buyers beware

First of all a warm welcome to the buyer community. Whomever you might be an investment property buyer, first time buyer, key home buyer,  second time buyer, or cash buyer some basic rules you should follow in property buying as well as know some tricks to tackle the market, vendors & the like.

The government of each place specifies in its website , offices, & through news portals do's & don'ts for the buyers information. It is the buyers responsibility to be aware & informative. Ignorance is no excuse where you spend in lakhs & crores. Whether you earn in lakhs per month or year decision making regarding the area, size of the property might differ otherwise almost all the properties needs the same attention.

According to Bangalore whether within city limits or future expanding city (outskirts) there are authorities to help you out. Its solely the buyers responsibility to gather information. Just googling cannot help much with local information, a friendly chat with office colleagues, neighbors, shop keepers on the first run will fetch you valuable information. Before going to a builder collect all information & ensure his credibility, property management style, number of properties he's holding etc.


BMRDA
http://bmrda.kar.nic.in/

The BMRDA website gives out a valuable information with respect to regions that come under rural development.

The Bangalore Metropolitan Region Development Authority(BMRDA) Act is anAct to provide for the established of an authority for the purpose of planning, co-ordinating and supervising the proper and orderly development of the areas with the Bangalore Metropolitan Region and to provide for matters connected therewith. Whereas it is expedient to provide for the establishment of an authority for the purposes of planning, co-ordinating and supervising the proper and orderly development of the area within the Bangalore Metropolitan Region and to provide for matters connected therein.  

CONDITIONS FOR APPROVAL OF LAYOUT: 1. The approval of layout is valid for 2 years duration. If the layout development is not complete in 2 years time, the approval needs to be renewed before the validity is expired. 2. Under site release regulation, on completion of civil works like asphalting of road, under ground drainage, storm water drainage, drinking water, electrification, Authority will inspect the layout and if found satisfactory the sites vested with Authority(40%) will be released for registration. 3. The park, road, civic amenities sites, under ground drainage, water and electricity needs to be developed on priority basis within 18 months or else the layout approval may be revoked without prior notice. 4. Sewage treatment plant will have to be established at appropriate location conforming to Karnataka State Pollution Control Board guidelines. 5. A license issued under Karnataka Gram Panchayat Act / Karnataka Municipality Act is essential before execution of development work. 6. Changes in the approved layout are not permissible without prior approval from Authority. 7. Any existing tree or vegetation to be conserved to the extent possible and new plants to be grown in the either sides of streets and park. 8. Building in the approved layout shall compulsorily adapt Rain Water Harvesting and steps should be taken for augmentation of ground water at layout level. 9. The roads, parks are to be developed and maintained, while civic amenity sites are to be protected against encroachment till such time Authority may deem necessary. 10. Approach to adjoining land or pieces of land within layout but not part of it should be guaranteed. 11. The layout approval is technical in nature; it shall not be used to prove ownership and any other right on the land. 12. The Authority is not responsible for any civil dispute relating to the land. 13. If any information or records provided to Authority for approval turns out to be fake, the approval is immediately revoked. 14. Advertisement for marketing of the plots in the layout should compulsorily mention approval no. and date. 15. Footpath has to be built on both sides of road to facilitate pedestrian movement. 16. If any of the above conditions are violated, the approval is revoked with immediate effect without prior notice.