PURCHASING A SITE:
1. Layout: You could purchase a site from a developer who has made a layout. You should ensure that the layout is converted from agricultural to residential use. You should also check the C.D.P. for land use and make sure that it is ear marked for residential user. The land in question should have no acquisition proceedings from the B.D.A. or The Karnataka Housing Board. It is very important to verify under whose jurisdiction the property is situated i.e., the Village panchayat, the C.M.C.(City Municipal Corporation) or Corporation. The layout plan sanction should be certified both by the B.D.A. and the local body under which the land is situated. However, nearly 95% of the developers do not take the layout plan sanction from the B.D.A. before subdividing a land into plots.
2. B.D.A. site: You could purchase a site from the B.D.A. as an original allottee. In order to apply for a B.D.A. site, you should meet the eligibility criteria of 15 years of residence in Karnataka and you should not have any other site in your name or in the name of your spouse or dependents. You should apply for the site in the layout that is available and pay the nominal fee required to the bank. A lease cum sale agreement is registered and you are put in possession of the property. Later the sale deed is registered in your name and the khata is issued. The B.D.A. has now abandoned the old scheme, whereby it was insisting that a house should be constructed within 10 years on the allotted site. The only condition is that the property shall be used for residential use.
3. Auction site: The B.D.A. also auctions its stray sites, which are normally corner sites or sites with unusual measurements. Notice of auctions of stay sites are inserted in the newspapers and the sites are allotted to the highest bidder, and a sale deed is executed later in the name of the person who has been the highest bidder.
4. Purchase from B.D.A. allottees: The second sale of B.D.A. sites are very popular. Most people do not get the site allotted even after applying several times. Such purchasers should always verify with the B.D.A. for authenticity of the sites. Care should be taken to verify if the site has, since its allotment, been mortgaged or if a G.P.A. has been given to third parties. Apply for and get the latest E.C. which is upto date. Inspect the original sale deed, which should be in the custody of the Vendor. This is especially important as there is sometimes a long lapse of time between allotment and the final sale deed.
5. Vacant Site: The last option is to purchase sites from other individual purchasers. For such properties, the full history of the property, up to date property tax paid receipts and insertion of paper notice of intention to purchase is very important. Always scrutinise the original documents. Verify who has possession of the property, which is especially important for purchase from Mohammedan owners, who have the right to give oral gifts of immovable properties that do not require registration.
PURCHASING A FLAT:
1. Second sale from owner: You could be purchasing a flat as a second sale from a person who has originally brought it from a developer. Check for dues to the association, the latest property tax paid receipt. Ensure that there are no F.A.R. violations on the property and that the sanctioned plan has been adhered to. This will be evident from the occupation certificate.
2. Purchase from developer: The purchase of flats from a developer is perhaps the most common, because of easy availability of bank loans, lower cost compared to an independent house and availability of facilities like club house and other amenities. The General Power of Attorney, The Joint Development Agreement, Sanctioned Plan, Tax paid receipt, Encumbrance certificate and title opinion from the lawyer are generally required. The documents very on a case to case basis. The agreements, have to be scrutinised to see if clauses relating to indemnities are to be inserted regarding good title, delivery on time with statutory clearances and repair of defects in building.
After purchasing an apartment of a site, the khata has to be changed to the name of the new owner. In the case of apartments, a sub number is allotted to each flat along with separate tax assessment orders. The time allotted for khata transfer is generally 45 days (statutorily) and you can apply for the same in the concerned office with the following documents:
1. Original sale deed with copy attached.
2. 2% of the value of the stamps in the sale deed as official fee to be paid by cheque.
3. Application form with court fee stamp.
4. N.S.C. certificate for a nominal value.
5. Affidavit in case of death of owner, from legal heirs along with death certificate.
For multistoried buildings, the original plot no. is subdivided into several sub numbers for the various flats and the property is assessed to tax. This sub number and assessment is normally a service offered by most developers to the purchasers. The khata is issued after this is done.