Hello,
I am totally new to the real estate concepts and seeking your help and guidance in understanding the authenticity of the documents. I am planning to buy a property in Vijayanagar(RPC Layout), Bangalore. The current owner is the 7th owner of the property. He says its a BDA property which was first possessed to the 1st owner in 1976. Here are my questions:
1. The owner said, its a BDA property, but the Khatta Extract and the Khatta Certificate are all issues by BBMP. Even the property tax is being collected by BBMP for this property. He says, anything before 2005 will be counted under BBMP. Is this true?
2. The sale deed does not have the survey number for the property. He said, survey numbers are given only to the agricultural land which will be acquired by BDA and converted for construction. Is this true?
3. One of my friends was saying, I have to get the City Survey document ( Property Registration Card) from the City Survey office to confirm he is the correct owner of the property. When I checked about the Property Registration Card (P.R. Card) with the owner, he said its not required at all and also it will not be maintained anywhere. Is P.R. card maintained by BDA or City Survey Office. How can I get this card and is this required for buying the property.
4. Currently the property is sealed by a nationalised bank, since the owner was unable to pay the EMI for the home loan. Should I deal with the Bank or the owner for buying this property. How do these things work?
5. The owner says, the bank has sealed the property since three years, I am surprised that the bank has not taken the property for auction. How can this be possible?
6. Is there anyother caution I have take for buying this property.
I know, I have asked a lot of questions, but I would really thankful if someone can answer these questions and guide me on this.
Thanks a lot.
Kiran.
