It has been noticed that Some are obtaining A katha from BBMP by misrepresenting the facts and submitting fake or bogus or manipulated or forged documents and either have constructed illegal or unauthorised apartments or formed layouts (DC Converted) and are selling it. Be Careful and conduct diligent enquiry before the purchase.
A katha does not confer any right, title and interest, even though, it is a secondary title document. Any approval, clearance, plan sanction, permission and NOC by mis representation of facts, fake or bogus documents, lies, forged documents and manipulated documents, all the APPROVALS, NOC,PERMISSIONS, LICENSES and APPROVALS obtained does STANDS AUTOMATICALLY CANCELLED AND THE AUTHORITIES OR THE CONCERNED OFFICES/OFFICERS HAVE PROSECUTING POWERS TO INITIATE APPROPRIATE PROCEEDINGS AGAINST SUCH OFFENCE.
A Press report on the purchase Benami Properties and its consequences.
Even though, the present seller may not be the original BENAMIDAR, but, if the property has tabs, tags, links, precedence, connection, transaction and illegalities, BENAMIDAR OR if it is a benami property, DO NOT BUY IT.
A Chartered Accountant during the course of a meeting advised the buyers that even if the property has changed several hands, it must not be BOUGHT or avoid any transaction with such groups or properties for the safety and security. The banks on the otherhand, will sanction loans or approve the projects for any and every type of properties, but the buyers must beware.
Approval of projects or sanction of loans DOES NOT CONFER ANY RIGHT, TITLE AND INTEREST and it is issued with all and every sort of sundry condition and is issued at the insistence of the developer. It is NOTHING BUT A MARKETING TRICK, to appease or trap the buyers.
A PRESS REPORT IN PRAJAVANI NEWSPAPER.
IT IS SAD TO NOTE THAT, IN ORDER TO ATTRACT AND SELL THE PROPERTIES, THE SELLERS/BUILDERS/MARKETING AGENTS MAKE STATEMENTS LIKE”THE PROJECT IS APPROVED BY XXXXXX BANK” OR “FINANCE/LOAN IS AVAILABLE FOR THE PURCHASE”, BUT IN MOST OF THE CASES THE BUILDER/SELLER/MARKETING AGENTS OR THEIR AGENTS OFFER FREE SERVICE OF ‘GETTING THE HOME LOAN’ AS A PART OF THEIR SERVICE TO THE CLIENT, BUT THE FACT IS THAT SANCTION OF LOAN NOR THE APPROVAL WILL CONFER ANY RIGHT, TITLE, INTEREST AND OWNERSHIP OF THE PROPERTIES.
THE BUYERS/PURCHASERS OF PROPERTIES ARE MISLED BY THIS WRONG/FALSE STATEMENT AND MISREPRESENTATION OF FACTS.
50% OF THE APARTMENTS HAVE DEVIATIONS, VIOLATIONS, LITIGATIONS AND IRREGULARITIES, WHICH THE BUYERS ARE NOT AWARE.
DO NOT BE FOOLED AND MISLED BY THE STATEMENTS LIKE` PROJECT APPROVED BY BANK` OR LOAN IS AVAILABLE` OR `THE SELLER ALREADY AVAILED BANK LOAN`.
IT IS LEARNT THAT IN SOME CASES, WHEN THE OWNER/SELLER WANTS TO SHIFT THE LIABILITY/RISK, THE PROPERTY IS SOLD TO UNSUSPECTING BUYERS STATING THAT XXXXX BANK HAS APPROVED AND THE BUYERS TRANSFER THE EXISTING LOANS FROM BANK TO THE OTHER.
IT IS A VERY TRICKY AFFAIR. WHEN A BANK BECOME AWARE OF ILLEGALITIES/LITIGATION/VIOLATION/DEFAULT OF THE CLIENT, IT WANTS TO CLEAR/SHIFT THE RISK/LIABILITY, TO ANOTHER LENDER/BANK. THEY ADOPT SCRUPULOUS METHODS TO CONVINCE THE BUYER TO AVAIL LOAN IN A DIFFERENT BANK AND SHIFT THEIR RISK.