BDA called for 5,000 sites claim as a new year gift to all individuals who are looking for properties in Bangalore. Let us see the details and eligibility with respect to BDA Kempegowda Layout Notification 2018.
BDA Kempegowda Layout Location and Layout Map
Where is this BDA Kempegowda Layout located in Bangalore? It is situated between Mysuru Road and Yeshwantpur, along NICE Road. The exact location may differ as I am just sharing the Google Map. If you need more clarity, then check the same with BDA.
Who are eligible to apply for BDA Kempegowda Layout Notification 2018?
# You should be domcile of Karnataka for at least 15 years prior to the date of registration.
# Applicant must be 18 years of age on 31st January 2018.
# You are not eligible for a site if you have already been allotted a site/house/flat or any other type of accommodation on ownership basis by BDA, KHB or any other House Building Co-Operative Societies or any other agencies.
# You are also not eligible if either you or your family (Spouse, children, grandchildren, parents, sisters, and brothers of such person who are wholly dependent on him) own a site/house/flat within Bangalore Metropolitan area.
# You are also not eligible if you acquire a site or house in subsidized price in any part of Karnataka or anywhere in India.
BDA Kempegowda Layout Notification 2018 Price
# For 20X30 EWS category it is Rs.900 per Sq Ft.
# For 20X30 sites it is Rs.1,800 per Sq Ft.
# For 30X40 sites, it is Rs.2,000 per Sq Ft.
# For 60X40 sites it is Rs.2,200 per Sq Ft.
# For 80X50 sites, it is Rs.2,500 per Sq Ft.
Do remember that this is the basic cost. You have to additionally bear the cost of Stamp duty and registration fee as per the applicable rates.
Number of sites available under BDA Kempegowda Layout Notification 2018
Below is the list of the number of sites available under BDA Kempegowda Layout Notification 2018 (this includes the size of each site and also the initial deposit you have to pay).
Note:-1 Meter = 3.28 Feet and 1 Sq. Meter=10.76 Ssq Feet.
You notice that there are around 1,000 sites of 20X30 EWS category sites, 500 20X30 General Category Sites, 2,500 30X40 category sites, 700 60X40 category sites and 300 80X50 category sites.
Hence, in total under BDA Kempegowda Layout Notification 2018, BDA planned to sell 5,000 sites.
Last date to apply for BDA Kempegowda Layout Notification 2018
Application forms are already available from 28th December 2017. The last date for applying is 9th February 2018.
Other details of BDA Kempegowda Layout Notification 2018
# You can get application forms at authorized bank branches of Canara Bank, Corporation Bank, Axis Bank, ICICI Bank, Syndicate Bank, Vijaya Bank & Yes Bank. These branches are located in Bangalore and also across Karnataka state.
# 50% of the total sites are available for General category. The remaining 50% of the sites are reserved for various categories like SC/ST/BC/Govt employees/ Persons with disability etc.,
# The initial deposit payable by you will not carry any interest. However, this will be adjusted towards the final payment of site value. If you do not get the allotment, then the amount will be refunded to you without any interest.
# Sites will be allocated based on seniority of the applicant.
# The purchase will not be complete SALE DEED. But it is a 10 years (in my view) Lease Cum Sale Deed (Check with BDA about years because they have not clearly mentioned the tenure). Hence, you are not allowed to sell the property for 10 years from the date of allotment.
How to apply for BDA Kempegowda Layout Notification 2018?
# Visit the authorized bank and pay the applicable registration fee.
# The bank will issue a Registration card. You can then obtain the Application form at the bank (application fee is Rs 400 for general category and Rs 200 for others).
# As per the required initial deposit, draw a DD/Cheque in favor of BDA, Bangalore.
# Submit the completed application form along with the DD/Cheque at the branch of the bank where you have obtained the application form.
# The last date for submission of filled in application with initial deposit and registration fee is 9th February 2018.
# After receiving the applications, the BDA will announce a ‘Provisional list’ of successful applicants.
# The unsuccessful applicants can raise objections (if any) on the allotments done.
# Once this process is completed, BDA will announce the ‘Final List of Allottees’. Those who get the allotment will have to pay the remaining dues as per the BDA rules and can proceed for Lease Cum Sale Deed.
# For those applicants who do not get the allotment, BDA will issue the ‘refunds’ (Deposit amount).
BDA Kempegowda Layout Notification 2018 -Should you apply?
# BDA sites are worth to purchase in Bangalore if you are planning for your own usage. Because they develop the sites with well planning.
# No risk of documentation and legality as it is the Government organization.
# This is not the complete SALE. But a Lease Cum Sale agreement of 10 years (exact year not specified in the advertisement). Hence, you are not allowed to sell the property for the 10 years. Hence, by doing this, BDA completely avoided the speculators or the buyers who are planning to purchase for the sake of INVESTMENT.
# The location is far from IT companies. Hence, this may be a bit negative of this layout.
# You can go ahead and apply if you are planning for your own use but not as an INVESTMENT.
# Process may be lengthy (may take a year or so). Hence, you have to be ready.
# There is no perfect disclose of how the allotment process will be. Hence, this creates some ambiguity in the minds of genuine appliers.
Finally, I suggest you to go ahead and apply if your intention is to own a site and built a home for your usage but not for investment. Because lock-in of your money due to lease cum sale deed is the biggest hindrance for me.
Refer complete notification:-Download BDA Kempegowda Layout Notification 2018/