DO NOT BUY A PROPERTY BASED ON BDA/BBMP APPROVAL AND BANK APPROVAL


In a latest judgement by the High Court of Karnataka quashing the acquisition of land for the formation of site by societies, it is clear and evident that ALL THE DILIGENT EXAMINATIONS REGARDING THE PROPERTY MUST BE CONDUCTED THOROUGHLY BY EXPERTS IN THE REAL ESTATE FIELD.

BDA/BBMP approvals are CONDITIONAL and all the NOC from KSPCB,BESCOM,BWSSB,AAI,BSNL,F&E Services and HAL are FITTED WITH innumerable conditions.

Bank approval of a project or sanction of bank loan does not confer any right, title and interest.

A recent trend noticed is that some financial institutions have violated, deliberately and circumvent the Delhi High Court Orders and RBI guidelines and are sanctioning home loans to the potential Home Buyers of B Katha properties and illegally built apartments and homes.

It is dangerous.  Be Careful. 

MANY BUILDERS THOUGH THAT THE NGT ORDERS ON THE LAKE BUFFER ZONE IS NOT RETROSPECTIVE AND SOLD THE PROPERTIES ARE IN FOR A SHOCK, AS THE NGT HAS DIRECTED THE BBMP TO APPEAR AND CLARIFY THE ISSUANCE OF CIRCULAR.