DC Converted site in Machohalli

[sunil6639]

Hi,

I am new to this forum and here is my first question

I am planning to buy DC converted site in Machohalli (Magadi road, Bangalore).

1. Is it safe to buy DC converted site?
2. Can I get a loan from nationalized bank?

Thanks in advance.

[krish]

If the area comes under BBMP, then yes, there can be problem if the Katha can't be obtained. And nationalized banks will stick with A-Katha sites only. You can approach other banks like IDBI, DHFL etc for B-Katha site loans. But interest rate can be high.

[sunil6639]

Thanks a lot krish for your valuable reply. The site does not come under BBMP. It is DC converted with BDA NOC only. Should I stop proceeding with this site?

[mithung2000]

Problem with DC converted plots is that they do not have plan sanctioned from BDA. The owner might leave Roads now and later come back telling that he has just sold the plots and not roads.. similar thing happened to me.. You can go only if there is a aprroved plan!