TDR Scam in BBMP- Some builders may or might or really in trouble!!!!

The recent Transferable Development Right SCAM in BBMP will ultimately affect the innocent property buyers, in fact, majority are APARTMENT BUYERS.

The fact is that these BUILDERS have bought the TDR and made good use of it and are constructing or constructed the complexes, may be illegal. It is a long legal battle.

The advance booking apartment GUYS and the buyers are in SERIOUS LEGAL TANGLE for quite some years. The legal opinion may not be complete or may be insufficient to look into these issues. These builders refuse/decline/reject to give proper details and clarification or documents related to the TDR.

A famous CREDAI member name is widely known for the purchase of TDR.

What is TDR.

The Government Body like BBMP acquires private property for public purpose for road widening and as usual cannot pay the property value or consideration or compensation, hence, if the land acquired is 1 feet, TDR is issued for 1 1/2 feet or 2 feet for the additional or extra construction over and above the FAR or FSI. The result is that the buyer gets LESS UNDIVIDED SHARE IN THE LAND.

This is free BALAJI DARSHAN offered by this type of Apartment complexes by the developer, the buyer need not go to the Tirupati for BALAJI DARSHAN, the builder, puts the NAMA (lll) right in their air conditioned office and the buyers are thrilled. The NAMA is invincible and these buyers pay for their penalty even without knowing, for another 5 to 20 years.