Purchase of Lease-cum-sale BDA site

[nagsbhat]

One agent showed me a BDA site which has the lease-cum-sale with 10 year bond. He said after 10 year I have to pay penalty of SR value to BDA and get the khata directly in my name without even contacting the seller. Anyone knows the details of such deals?

Regards,
Nagendra

[rewatcher]

Until the owner gets the absolute sale deed, he is not supposed to sell the site. That is the whole point of BDA giving 10 years lease-cum-sale deed. The idea is to curb people applying for BDA sites with the sole intention of selling it as soon as it is allotted. Check with a lawyer before buying such sites which are still within the lock-in period. In my opinion, you should stay away from such deals.

[jackalbda]

AFAIK, lease-cum sale with BDA is a conditional deed . If the condition of 10year(or whatever time for that matter) lease is not met by the allottee, the deed becomes invalid and BDA has all the rights to cancel the allotment.

My Lawyer had told me the above info and ha

d rejected a handful of documents which I had asked her for opinion. IMHO, you should not go for this, if the lease period is not over ( thats not clear form the post though).

[nagsbhat]

I dropped the idea of buying such a site. Consulted a lawer and he told that BDA has the right to cancel the allotment if the site is sold before the lease ends.

Thanks for all your reply!