Payment of site value to BDA by allottees.

prerana48
Posts: 3
Joined: November 5th, 2016, 2:19 pm

Payment of site value to BDA by allottees.

Postby prerana48 » December 7th, 2016, 12:56 pm

There is no information by BDA as to when we, i.e., allottees of sites in BDA Kempegowda Layout have to make payment of site cost.
Any member having information in this regard can kindly share.
Regards,
M. RAMESH BABU
Cell: 8050 851 620

msn1270
Posts: 1275
Joined: June 17th, 2009, 2:21 pm

Re: Payment of site value to BDA by allottees.

Postby msn1270 » December 29th, 2016, 3:32 pm

As per BDA Statement, They have already sent the allotment letters to all the successful applicants.
They've given 60 Days time to pay the balance amount without any interest. If the applicant fails,
he can ask for extension by submitting an application for another 1 Month with an interest of 18% of
the total value of the Site. Again if he fails, i think he can get another attempt with 90 days grace
period with an interest rate of 21%.

Anyone who can't pay within these 3 attempts will loose their allotment automatically.

prerana48
Posts: 3
Joined: November 5th, 2016, 2:19 pm

Re: Payment of site value to BDA by allottees.

Postby prerana48 » December 29th, 2016, 8:30 pm

HI
I have received allotment letter.
I visited Block No.7 and located my site.
only storm water drain work is done and quality is very very poor.

msn1270
Posts: 1275
Joined: June 17th, 2009, 2:21 pm

Re: Payment of site value to BDA by allottees.

Postby msn1270 » January 2nd, 2017, 11:43 am

Hi Prerana

Firstly It's a BDA Layout. BDA is busy in raising funds for the present Govt for their next year election by all possible options including the most opposed steel bridge.

So, We can't expect anything more from them for next 2-3 years. Keep it as an investment with a time period of 6-10 years, you can get very good benefit in the long term compared to any other mode of investment.

s v kumar
Posts: 5
Joined: April 7th, 2017, 10:54 am

Re: Payment of site value to BDA by allottees.

Postby s v kumar » April 11th, 2017, 4:23 pm

It is very correct what is said except that the time frame could be easily 8 to 10 years as is the case with earlier layouts

GPM
Posts: 14
Joined: March 17th, 2015, 3:35 pm

Re: Payment of site value to BDA by allottees.

Postby GPM » April 17th, 2017, 3:57 pm

Boss, SMV layout framed in 2004.. its been almost 14 years still not proper developments in overall layout.. BDA is now just like raise a fund for their election and for high command to win their hearts..

msn1270
Posts: 1275
Joined: June 17th, 2009, 2:21 pm

Re: Payment of site value to BDA by allottees.

Postby msn1270 » April 17th, 2017, 6:28 pm

You may be right. Getting developments is not as easy as we think in terms of KHB or BDA sites. But definitely returns can be expected in the long run.

In 2000-03, SMV layout & Nagarabhavi area 30X40 site was allotted at a price of Rs. 2.25 lakhs. Today same site is commanding anywhere between 40-80 lakhs based on its location and preference. In the long run, you will definitely get the benefits. But Its highly not recommended for those who dream for returns in a short span of 3-5 years or wants to construct & settle down there in the near future.

Same way today's Jayanagar, JP Nagar, Koramangala, HSR Layout, RT Nagar...etc, were all formed mostly 30-50 years ago. Today no ordinary citizen can buy a small dimension site also in these areas.

GPM
Posts: 14
Joined: March 17th, 2015, 3:35 pm

Re: Payment of site value to BDA by allottees.

Postby GPM » April 17th, 2017, 6:36 pm

Yes, I agree.. but considering current govt policies and money transaction restrictions.. and IT rides and all.. going forward in future we can’t expect the same old days as black money buyers so.. we shouldn’t relive much more on investments.. Just sharing my thoughts here..


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