According to property consultants, there has been a significant spurt in registrations in Bangalore, especially on the peripheral areas of the city and its surrounding regions which boast of ample revenue sites.
@Chetan, Bangalore and its suburbs witnessed as many as 5831 registration of sites in December. As per the revenue department of Bangalore, Q4 2013 witnessed 25% more registrations of revenue sites in comparison to its previous year.
As per my knowledge there are lot of risk in buying a revenue site or a land because there are obstacles to over come the revenue sites like:
a) Regularization of the sites. This can only be done by paying betterment charged to BBMP
b) Going through DC conversion or land use conversion process to convert the land from agricultural to non agricultural use.
c) You will not get Khata Documents also.
Sometimes regularization is not possible for all the revenue sites :(
The potential rewards of Revenue Sites can be extremely attractive. Many buyers makes the current prices of these lands very attractive. If the regularization and conversion of the site goes through, you stand to gain in a very significant way. :):)
Hello Tejesh, Sometimes what happen is that houses are built in the surrounding sites that have not yet gone through the DC Conversion process, which makes the construction done on these sites are illegal. These kind of lands are known as Revenue Lands or Revenue Sites.
On the other hand, if no construction has been done yet the developers have converted the agricultural land into residential layouts without going through the DC Conversion process that kind of land is also known as revenue sites.