Factors to consider while buying Property in Bangalore- Difference Between 'A' Katha & 'B' Katha Plots

1. Never ever buy BBMP B Katha Site

BBMP has two registers in BBMP Office, all the plots/Layout which has official approval from BBPM will be treated as BBMP A Katha and natinalised bank will provide loan for these plots.

All illegal / unauthorised private layouts which has not got BBMP approval are listed in "B" register in BBMP Office, there is no KAtha called "B" Katha, this is the official wordings from BBMP Corporate office,

if you want to self check, take the so called "B" katha document to get loan from natinalised bank, they will reject your loan strait away... Buying "B" katha site is your own Risk


2. Never Promote Black Money transactions in Real Estate (Ask Agents to show owners who want atleast 70% or more white money, to be on safer side)

Assume if you are buying a BDA Site in Banashankri 6th Stage BDA LAyout, the owners will quote 3500 to 4000 Rupees/Sq ft, but the agreement value will be for only 15 LAkhs for 30 x 40 Site..

Rest of the money you will have to pay by cash as black money, and doesn’t not carry any agreement for black money, and the land grabbers will make use of this black money

transactions to mislead the Software professionals  and other  hard earned salaried proffesionals , simple myth is how can to trust a unknown owner by paying hefty 70% black money with out any transactions proof..

3. Never ever make any transactions for Plot with Agent who has put up agreement with Owner(Find out real owner from the noted property portal like  99acres, magicbricks etc who advertise their proerty as direct owner)

For example a person has seen one site in Kanakapura road Judicial layout and shortlised it, but later he found that he need to make all transaction with agent who has put up agreement with owner... and he will show the

owner only during property registration...

The Agent has made agreement saying he paid one lakh as token advance for 30 40 plot at 3000 Rs/Sft and will clear remaining amount in 3 months... during this 3 months he will be searching salaried

 professionals  who desperately want to buy some property in bangalore.  With the help of that agreement now he has become proxy owner and quoting the plot rate at 4000 Rs/Sft.
These Agents will  artificially inflate property prices and make the hard earned salaried professionals into trap for overpriced property prices and struggle repay loan for 20+ long long years.



Suggestions

1. Do direct transaction with Owner (find direct owners in noted property portals like  99acres, magicbricks etc, you can take help of locaL agents but clearly mention you need direct owners who prefer at least 70% white money).

2. Buy plot only if it is BDA or BBMP A Katha and which gets loan from Nationalised bank.

3. Verify the original identinty of the person deeming as plot owner by verying the Photo Identity Card in original before making any transactions, as there are lot of mid-man and proxy owners

3. Take legal opinion from reputed Property lawyer by paying some 5 to 10K fees.

4. Never ever buy BBMP "B" katha as it is Bogus Katha and there is not physical existence of "B" Katha

5. After you buy your plot make fencing and mention board as "Not for SAle" and try to construct home in couple of years to avoid malformed property transactions from junk land grabbers.


Source : http://mybdasites.com/viewtopic.php?t=3973