Firstly I would like to thank our forum Advocate Mr. Muralidhara. I did my property legal opinion, sale agreement & deed drafts with him. He was very co-operative and very knowledgeable. He is open to discussions/suggestions. In a nutshell, I strongly recommend him to all our fellow MBS (MY BDA SITES) folks.
Sorry for a delayed response. My deal was for Rs. 2200/sft. These days the negotiations with broker/owners start at Rs. 2500/sft and actually settle between 2100 to 2300, based on the direction of site facing, actual site location etc.
I will also share a couple of insights into the Kanakashree layout setup. The total layout has been made on 62 acres of converted land. And the BDA approval was obtained on a joint agreement between Kanakashree Housing Co-op Society, BLR and Mr. Basavaraja who is the developer of the layout and the actual land owner too.
Hence as per their agreement, a good 60% of sites come under the society's ownership, which are allotted to its members. The remaining approx 40% is Basavaraja' share. These figures are excluding parks & common areas. The society's share is called Block A and the other is Block B.
I purchased it through a vendor who had inturn purchased it from Basavaraja some time back. And the deal was brokered and i paid 1% + 1000 bucks to the real-estate agent.
The biggest drawback in this layout is that the sellers want almost all black i.e. govt guidance alone in white and remaining from your pocket. And some deals are for a 50-50 split where 50% can be white. Also there are deals where you pay some fixed amount like 15lacs or so in Black and rest in white. Fortunately for me, my vendor accepted for a 75%-25% deal where 75% is white from bank loan and ofcourse the remaining from my pocket.
Be aware, the current govt. valuation is at Rs. 180/sft. I registered my site in end of july 2011 and i saw a notification at the SRO, Bidarahalli that the govt valuation is pegged at Rs. 600/- and will be in effect quite soon.
Please feel free to ask for more details, if i can help.