Buying BDA Sites
Posted: July 15th, 2015, 12:15 pm
Hi,
I have seen a BDA site in JP Nagar 8th Phase 2nd Block for purchasing. When I verified the papers, I realized that the site has been allotted to the first party in 1998. However, he has paid the amount only in Feb 2015 and got it registered. Later he has sold it to another party (second owner) and now I am buying from the second owner.
My question is whether it is allowed in BDA to sell the site to first party after 17 years of allocation? Allotted in 1998 May, but sale deed issued in Feb 2015 (at the same price as it was decided during allotment in 1998)? My lawyer says it is not allowed and documents need to be verified properly. Also, the allotment letter says that the site allotment will be cancelled if the full amount of site is not paid within 150 days from the date of allotment. In such a case, how was this deal executed?
Regards
Guru
I have seen a BDA site in JP Nagar 8th Phase 2nd Block for purchasing. When I verified the papers, I realized that the site has been allotted to the first party in 1998. However, he has paid the amount only in Feb 2015 and got it registered. Later he has sold it to another party (second owner) and now I am buying from the second owner.
My question is whether it is allowed in BDA to sell the site to first party after 17 years of allocation? Allotted in 1998 May, but sale deed issued in Feb 2015 (at the same price as it was decided during allotment in 1998)? My lawyer says it is not allowed and documents need to be verified properly. Also, the allotment letter says that the site allotment will be cancelled if the full amount of site is not paid within 150 days from the date of allotment. In such a case, how was this deal executed?
Regards
Guru