Dear Forum members,
Like to have your opinion and level of Risk involved ...
Recently I came across property in T.C.Palya main road Ramamurthy Nagar.
landmark, Sacred heart road | behind GCC college | near to Bangalore movies.
Builder summarized property details like ...
*, Owner of the property is NRI, He has provided GPA to his father.
*, Builder (along with his partner) executed sale agreement with GPA. for a period of 6 months. and agreed for taking position or construction in the site.
*, Site is having e-Katha, with no D.C conversion certificate, He shared, owner already paid the fine and got the e-Katha for the property.
*, Builder is interested on constructing the house and sell it as independent House but not as site.
*, Final registration is between actual owner and end buyer.
*, Builder's proposal is to pay 20% of project cost as token and book for the House. six months no emi, and loan will be get arranged for balance amount at the time of registration.
*, Quoted price is 2800/sq.ft for site and 1660/sq.ft for construction. with no wooden works like wardrobe or kitchen interiors.
Well, that's it - end of the story.
I welcome suggestion, pros & cons, How to execute such kind of deal etc ...
Builder is holding 4 adjacent sites, all are 30x40 west facing sites. 25 feet road. 30 feet on Road side.
and all sites belong to single owner.
Thanks and Regards,
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