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Unfortunately the loan we take from the bank is an unlimited liability and not the limited liability. That means whatever happens to the site as a borrower we are liable to pay the loan. If you stop EMI even then legally speaking bank can take your other properties, future earnings etc to cover the loan. I am not sure if you have read the detailed T&C along with the loan.
There is a bigger issue with formation of layout and our own mistakes. We buy sites and never build the house for 5-10 years. And if you look at the developments very few people construct the house soon after they buy. The layout would have been formed 10 year ago when society would have given less than 1 lakhs per acre compensation and now an acre would go for 5-6 crores. Land owner is naturally tend to be emotional and try whatever he can do to get the tittle back. Imagine a land owner with 10 acre getting the tittle back with current market value of 50-60 crore. He will spend any amount to appoint a lawyer to get the case won.

It is true that govts responsibility is to do what Dr. B. Ravindranath said. However, we as site owners don't vote, don't live in the same area whereas landowner votes, part of some/all of the political system. and politicians will have to hear their voice.

The judgement is only for 11.5 acres, that is for Respondents R3 to R7.
In Judgement copy, it is clear mentioned that contention is between Society and respondents R3 to R7 for 11.5 acres(Geeta Devi Shah, Ramaiah and family).

Hi All,
Any update on outcome of sunday meeting?

hello all

Please join/check the Google Group below:
http://groups.google.com/group/bcchsl-site-owners-forum

Judgement is pertaining to only 2 survey numbers, the landlords pf these survey nos have not taken any compensation and the land is also not acquired, . Some miscreants are creating a nuisance since from the begining, all these miscreants have taken the compensation and handed over the land, I can tell the names who doing atrcocity Renukappa, Akkulappa. When ever sombody constructs the house tries to clean the site, these people come shout and take some money and keep quite, this is what happening since long time. Surprisingly many of these miscreants are brokers and sold the sites to the people. These miscreants are almost all illetrates and they can do nothing except atrocity. Some lawyers are encouraging these miscreants that there is a scope to get your land and fight in court, unfrotunately our judicial system is also not able to dismiss this kind of cases. Current situation is many site owners are meeting in the layout regularly and there is office setup here and SP of Ramnagar is supporting the site and house owners. I suggest the people in thsi forum go and check what is happening, recently a week back around 600 people(site owners, society and house owners) gathered and now layout cleaning is in progress, they have setup around 6 cameras to record if there any atrocity happens and police force also there.

Any updates on the legal issues with this property? I am looking at buying a plot and would be interested in getting some up-to-date information. My lawyer verified all the documents and told me that CURRENTLY everything looks fine.

He also told me that the farmers of other survey numbers can file a case since it will be easy money for them (farmers).

What do you guys think?

Hi,

The land in question was with society and sites were not yet formed in the case which society lost.

Farmers of other survey numbers cannot approach court for the simple reason that they have already taken compensation and it has been more than 15 years since the acquisition was carried out. Delay and latches come into perspective. Also BDA has already formed the layout and now the properties are under BBMP.

Regards
Pradeep

Thanks Pradeep.

I purchased this BCC layout property 2 weeks ago. I am happy with the rate and the area.

Thanks for the inputs.

Hi All,


I am looking for a site in this layout.

can you please let me know which survey numbers are in trouble so that I can cross verify with the owner.


thanks
Vamsee

Hello,


Any Inputs PLEASE ??



thanks and regards
Vamsee