Dream Meadows can i take risk ?

[Hari]

I found Dream meadows mentioned in the BDA unauthorised layout pdf file. WHen i checked for the latest info at BDA site couldn't find any thing. I am planning to buy a plot and evaluating the risk associated with the purchase.

Dream Medows Layout,
M/S Aditya Estates & Properties,
No.246, 6th cross, CMH Road,
Indiranagar, Bangalore -560 038
Kundalahalli,
K.R.Puram Hobli

I want to understand more on what does this means.

Office of the Deupty Commissioner has
converted the land Mahadevapura CMC
has issued khath & approved the building
plans. Developer was heard by the
Authority Sub-comittee for unathorised
layout in its meeting held on 24-01-2006
has dicided to demolish the unauthoised
layout.

[ardesarchitects]

Hi Hari
Did you buy the plot in dream meadows? Did you buy it from the developer directly or second purchase. Can let me know what price you got it for or quoted?
Thanks in advance...........
regards
Ar.Praveen.N
Ardes Architects and Interior Designers
ardesarchitects@yahoo.co.in

[Hari]

No Praveen,

I didn't purchase the land , i took legal opinion from lawyer ( had to shell 5 k for it) and finally understood that there are multiple issues with plots at dream meadows. The price for which the owner was ready to sell was 1600/- (dated June 2009).

The issues starting from the sale deed, the dream meadows developers i e Aditya developers are already in the blacklisted ( you can check u r doc links) , they have done multiple cheating in that layout, i personally feel that even after the regularisation the sale won;t be easily possible due to land conversion issues, the land is not bought properly from the old owners, lot of owners will show that they have khatha and if you go and check at mahadevpura office they will clearly tell that they have never issued any khata. So what i felt is lot of current owners have been cheated by agents and they have given fake khatha . The developers have sold all the common areas and now no body has any clue on what is legal property. I checked with banks like SBI ,HDFC and they refused to give loans .

With all these issues , i felt it is not even worth taking risk, with BBMP taking over you will soon notice that either politicians will take control over the prime land or else BBMP will go with some park/ other civic amenities in that place.

Regards
Hari Krishnan

[ardesarchitects]

Hi Hari ,
Thanks for that valuable info (worth more than 5000/- )and a very fast response ,so you dealt with a direct site owner not the agent, can you pass on any contacts in that layout.

regards
Ar.praveen.N
Ardes Architects and Interior Designers
ardesarchitects@yahoo.co.in

[Hari]

Praveen,

Yes i was in touch with direct owner , . The plot which i was looking was bigger one 5000 sqft ( 50 * 80) , the owner name was Dinesh. I lost his contact no , but you can easily search in the internet to get his no's. He had posted couple of ads in our earlier MSN groups. Smaller plots are being sold for around 1800/- .I had contacted one owner seeing ad in TImes of India they had 3000 sqft plot and had asked for 1800/- .

There is lot of agents who deal in the layout, one common agent is SHalabh , he deals with Dream meadows layout but the guy always jacks up the price to around ~ 2000.Shalabh only got all the fake khatha and document for dinesh, i felt the owner is simple guy he is trapped and wants to escape from the mess.

I had to shell 5 k but i learned a lot after this , starting from what all documents is needed etc. There is even Nexus between agents , banks etc .

Simple Few tips
1.Always go and verify the documents by lawyer, preferably lawyers attached to govt banks. Cost will start from 1500/- to 5 k
2.Go to BBMP office and verify the Khatha and document directly, some times the private banks may pass the loan for land but when you start construction you will end up in lot of issues.
3.Only pay any token money after the legal approval is ready.
4.Prefer public sector bank, on a long run it will be cheaper .Generally when the rates go down, private banks doesn't reduce rates too fastly , public sector do it.Similarly when the interest rates go up private banks will never delay it.

[sreekbda]

What is the name / contact number of the lawyer you consulted? Pls share..

[rahuljay2k9]

Hi,

Its true that Dream Meadows layout is illegal. They dont have Khata and they all have fake documents.

You can look at Shriram Samskruti Layout which is inside Dream meadows which is legal.

Cheers

Rahul

[sandy]

Hi All,

thanks a lot for the information.. is that entire layout is illegal or part of it? I can see there are some apartments also in the layout, are they have the similar issues?

Thanks in advance..

[arigilamurali]

Mr. Sandy

Before come to the conclusion , you verify nessry documents.
As far as other layoout in the same layut is concern , better you insist your vendor to give all particulars and approch concern authority and verify authentisity of the said documents . that Apart you take opnion from the legal expert. Since you are intending to purchase private layout you must more carefull.

with regards
r.muralidara ( Advocate )

[sandy]

Thanks a lot Murali for the information... i will definitely go for verification. just wanted to verify to take the initial step about the layout. what are all the docs you need to verify the authenticity of the property?

I have few more questions,
what is the difference between "B.B.M.P Original Khata" and "B.B.M.P form 'B' khata". are these vaild for purchase and valid for bank loan?
I heard that we can get "khata" very easily by bribing 5-10k in govt offices. how reliable these information?
before going to legal expert it would better to know this information. please help me in this.

Thanks in advance...