BMRDA Site - Query

[amit_pearl2]

Hello Friends,

Once the layout has BMRDA approval, does this mean that the land is safe? Does this mean that the layout is free from litigation?
Will there be problem of grand children or legal herir of seller, down the line trying to claim stake?

Finally On Bannerghatta Road, which is the first BRDA approved layout?

please provide your inputs.

Amit

[PlotGuy]

No land is free from any litigation including BDA sites today or tomorrow.

[amit_pearl2]

Thanks PlotGuy.Was away from this forum from a long time. i was just wondering if senior member like you, bdamaga and others are still in there.

Well to some extent i tend to agree that high real estate prices are reason for litigations/ grand children trying to claim stake after 4 to 5 decades.

What is the best way to settle out these issues. Court would take years and Years. Only the lawyer will benefit.
Is Out of court the only settlement? What is the ideal price to pay if one tends to settle it outside the court? Can a lawyer
play a role in clean settlement.

Regards
Amit

[Ramesh_A]

I am planning to buy a site in tejaswini nagar, I have two concerns before buying that property.

broker nearby said that the site has got litigation since the son of a owner is demanding the equal share, I do not know how do I check if the site has got any issues?

My another concern is the nearby that site there is a big quarry(no longer used) few people comment thats going to be a park and others mention a big apartment is going come up there, it would be of great helpful for if anyone has any information regarding this.

[amit_pearl2]

Ramesh,

Did you verify the documents with lawyer? Owner son asking for Half share, is this inherited property? If father has brought with his own money he can
do what ever he wants. Contact a good lawyer and he should be able to give you the right advice.

Its hard to find sites without issues in bangalore. it is important to find how serious the issue is. what is survey number and price quoted.

Suprise thing broker told about this issue? Usually brokers look for thier commission.

Amit

[Ramesh_A]

Hi Amit,
I'm yet to verify the documents with lawyer, but one of the broker has seriously warned me against buying this site here. I'm not sure about which survey number he is talking about. The site is facing north and the price quoted is 2200/sqft. Even surprising thing for me that broker is telling all this, may be he is showing off that he is a very honest broker. He personally took interest in showing some sites which are under litigation. He is also more interested selling sites in Pavamana Layout than this, it could be one of the reason.
Ramesh

[amit_pearl2]

Yes... it is very difficult to get the actual insight. You know sometime neighbours also provide misinformation. This has happened. may be they dont want a structure to come up next to thier house. this will redue sunlight right? it might sound so stupid but its true.

Your broker may be very geniune guy or else may be he will have to share the commision in one layout and not in other. So for potential profit for him would be get customers where he has max profit.

Both pavamana and tejaswini nagar are developed layout. tejaswini has location advantage. Take the papers, let lawyer look into the details....

both pavamana and tejaswini nagar have B khata- are you getting loan