DURING THE COURSE OF OUR VERIFICATION, WE HAVE FOUND OUT MANY SUCH DIFFERENT SCAMS AND CHEATING CASES WITH CLEAR INVOLVEMENT OF MANY FINANCIAL INSTITUTIONS. BBMP, IN MANY CASES HAD ISSUED KATHAS FOR SUCH PROPERTIES. THESE TYPES OF ILLEGAL PROPERTIES EXISTS AND BEING TRANSACTED AND REGISTERED.
THE MODUS OPERANDI IS AS UNDER:
THE BUYER APPROACHES A BANK FOR HOME LOAN, THE (FRAUD)BANK SANCTIONS THE LOAN AND THE BORROWER WILLFULLY DEFAULTS THE REPAYMENT OF LOAN. THE BANK ATTACHES THE PROPERTY AND CONDUCT A PUBLIC OR E-AUCTION. THE FOOLISH BIDDER, WITHOUT VERIFYING THE TITLES SUCCESSFULLY BIDS AND BUY THE PROPERTY.
IN A HIGH PROFILE CASE AT A POSH LOCATION IN KORAMANGALA, A NRI (KNOWS ABOUT THE ILLEGALITY AND FAKE DOCUMENTS), HAS BOUGHT A PROPERTY IN PUBLIC AUCTION BY (THIS BANK SANCTIONS ALL KINDS OF LOAN AND MOST OF IT FOR ILLEGAL AND UNAUTHORISED BUILDINGS ONLY) XXXX BANK, THOUGH THE TITLES ARE NOT GOOD AND THE NOTORIOUS NRI DELIBERATELY BOUGHT AND WAS TRYING TO SELL AND BY THIS TIME, HE WOULD HAVE SOLD AND REPATRIATED THE AMOUNT TO U.S.A.
WE ADVISED OUR CLIENT AGAINST BUYING AND SUBMITTED HIM THE SUPPORTING DOCUMENTS, THE NOTORIOUS NRI CLAIMED THAT THE TITLES ARE GOOD AND DISAPPEARED.
IN ANOTHER NOTORIOUS INCIDENT, LAST MONTH, A LEADING BANK, ADVERTISED E-AUCTION IN THE NEWS PAPERS ABOUT AN APARTMENT IN AN APARTMENT BLOCK, WHICH WAS ACQUIRED BY BDA AND THE FINAL NOTIFICATION WAS COMPLETED AND WAS NOT DENOTIFIED EVEN UNDER THE RE-DO SCHEME, AT RACHENAHALLY VILLAGE, BANGALORE EAST TALUK.
A COMPLAINT WAS LODGED WITH THE BANK AND THE BDA.
IN ANOTHER CASE, AT HRBR LAYOUT, XXXXXXXXXXXXXXXXX BANK HAD SANCTIONED RS60,00,000/- HOME LOAN, THE BUYER IS ANOTHER NRI, TRIED TO SELL WELL BUILT RESIDENTIAL PROPERTY WITH BBMP KATHA, THROUGH A GPA, IT WAS ACQUIRED BY BDA LONG BACK BY BDA. AFTER SEVERAL YEARS, THE BDA BROUGHT THE BULLDOZER TO DEMOLISH, THEN THE BUYER WOKE UP AND FIGHTING A LOOSING BATTLE WITH BDA. THE SELLER HAS EASILY POCKETED THE MONEY.
WE ADVISED OUR CLIENT AGAINST BUYING AND SUBMITTED THE SUPPORTING DOCUMENTS.
2 responses to “BDA-WARNING NOTICE – SALE OF PROPERTY IN HAL LAYOUT”
Why isn’t the name of the bank provided in such articles. Either you could give it directly or provide reference to some other news article which exposes the name of bank. It will be truly helpful to citizens only when bank is known.
Details cannot be provided as some matters are pending in the court and some are being tried and will be sub-judice to publish all of it. Genuine buyer will/must conduct a thorough scrutiny before the purchase. Many banks are involved in this scam. The common perception among the buyers is that the approval of a project by the bank validates the title is NOT AT ALL TRUE.
Hence, it is just piece of information for the interested.