Q:
This is not a BBMP approved property. They have sold 80% flats. The building is ready for last 4 months and they are yet to apply for occupancy certificate. Wait at least till Jul2013 for BBMP verdict on occupancy to come out. There's no surety that BBMP will give some verdict by Jul2013, but verdict will surely NOT come out before Jul2013. Do not go by "SBI approval" of this property.
I would like to know how you know all these.. And are you sure about what you are telling? Why are you not providing your name or any other details.. so I am little confused whether to trust you or not..
Why don't you visit them and demand OC? Do not assume Khata certificate as a proxy to OC. In Jun2012, they told me that they will apply for OC by Jul end. They're yet to apply and may not till March. After they apply, it would take 3-4 months for BBMP to survey and give informal verdict. Without OC, the value of property is ~ as good as land value. Here comes the tricky part. Their loading is 30%. So with such a high loading, the undivided land portion in a 7-storey building would be 20-25%. So, your 1600sqft flat will fetch you 400sqft of undivided land portion for you.
One more caution: If after 6 months they come up with OC, do crosscheck it with govt authorities. Till then do not put any money on the table.
As far as price hike fears are there, each investor should decide for themselves. Have you ever thought why they are not constructing any other building right now? A builder who constructs a multi storey building never waits to begin his next construction.
29th October 2012
Oh I forgot to put my name. My name is Aneev. How does name and contact matter? Am mostly putting facts. Facts are not debated. Your choice...
29th October 2012
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