This is not a BBMP approved property.

Q: This is not a BBMP approved property. They have sold 80% flats. The building is ready for last 4 months and they are yet to apply for occupancy certificate. Wait at least till Jul2013 for BBMP verdict on occupancy to come out. There's no surety that BBMP will give some verdict by Jul2013, but verdict will surely NOT come out before Jul2013. Do not go by "SBI approval" of this property.

honest realtor, Bangalore

28th October 2012

Buying property in Indira Iris, HBR Layout, Bangalore

india iris

occupancy certificate problem

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Replies (8)

Fire NOC is cleared. the price is about to be raised. Try your luck.

Ram Sankar Panda , Apartment Resident

14th August 2014

Comment

Indira Iris has received the Fire NOC. Please let me know if you have any queries.
Regards,
Ram

Ram Sankar Panda , Apartment Resident

10th August 2014

Comment

good to know

Kailas Senan, Apartment Resident

11th August 2014

I would suggest for new buyers to verify the documents with a good lawyer. I got information that Indira Iris does not have fire safety approval and solar approval, due to that the occupancy certificate is delayed. There may be other reason too and the contact persons Mr.Krishanswami and Senthil are not disclosing the actual reason for the delay in getting the OC. Most of the buyers in Iris complaint about the delay in getting the OC.

Kailas Senan, Apartment Resident

10th October 2013

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Hi, I am looking to buy an apartment in Indira Iris, Thanisandra Road, Nagavara. I would like to know whether they got the BBMP approval. What was the verdict of July 2013?

Kailas Senan, Apartment Resident

24th September 2013

Comment

Could anybody tell me if its worth buying an apartment in Indira Iris on Thannisandra road , 1 km from Nagawara signal.

My concerns-
1. Will the widening of thannisandra road have any impact on the apartment
2. Its an 8 story building with 72 apartments . DO they have all proper approvals. (builder is claiming to have all)
3. Coming of metro on nagwara will have any negative impact on it.

Satya

shweta,

24th April 2013

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I would like to know how you know all these.. And are you sure about what you are telling? Why are you not providing your name or any other details.. so I am little confused whether to trust you or not..

Veena K,

29th October 2012

Comment

Why don't you visit them and demand OC? Do not assume Khata certificate as a proxy to OC. In Jun2012, they told me that they will apply for OC by Jul end. They're yet to apply and may not till March. After they apply, it would take 3-4 months for BBMP to survey and give informal verdict. Without OC, the value of property is ~ as good as land value. Here comes the tricky part. Their loading is 30%. So with such a high loading, the undivided land portion in a 7-storey building would be 20-25%. So, your 1600sqft flat will fetch you 400sqft of undivided land portion for you.
One more caution: If after 6 months they come up with OC, do crosscheck it with govt authorities. Till then do not put any money on the table.
As far as price hike fears are there, each investor should decide for themselves. Have you ever thought why they are not constructing any other building right now? A builder who constructs a multi storey building never waits to begin his next construction.

honest realtor, Bangalore

29th October 2012

Oh I forgot to put my name. My name is Aneev. How does name and contact matter? Am mostly putting facts. Facts are not debated. Your choice...

honest realtor, Bangalore

29th October 2012

But what about the cost in future.. the rates will increase by that time.. I cannot wait till then to invest.. please help..

Vasanth,

29th October 2012

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