Buying a property in Bangalore

Q: I am purchasing a flat in Bangalore. The original Allocation agreement showed the flat in landowner share. Recently they got the document updated to show it in Builder share with signatures of all landowners. However this document is not yet registered. The builder says the registration has no consequence to my purchase and he shall do it at a later date post my registration. Should I consider it safe and buy the flat? The builder is reputed and has sold almost all flats.

Gairik Deb, Bangalore

25th February 2014

Legal in Bangalore

buying property in bangalore

allocation agreement

landowner share

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Replies (4)

What kind of property will fetch me good returns in the coming future?

Vishwanath, Bangalore

9th December 2014

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Bangalore is known as the IT Hub and the city witnesses a high demand for premium and middle level apartments/flats category which are equipped with all amenities for IT professionals. :) :)

Pratap, Bangalore

9th December 2014

I agree with you Pratap, but what I feel another reason can be that festivals season is here and many developers offers discounts and freebies which seems to be attractive. The demand for premium homes have increased from HNI’s and NRI’s. Today, most of the demand for housing comes from NRI’s hence, the Bangalore market will not face any changes.

In future the property price might increase due to soaring cost. So this is the right time to buy a property.

Yogendra, Bangalore

9th December 2014

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Me and my dad is planning to buy a property in Bangalore but before that I want to know if it is the right time to buy a property?

Vishwanath, Bangalore

9th December 2014

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According to be this is the right time to buy a property in Bangalore as the city is turning out to be one of the hottest destination for real estate investors. Bangalore has always been driven by end-users and it houses many multinational companies and offering many job opportunities. This is the major reason why end users investing in Bangalore from all over the country.

Pratap, Bangalore

9th December 2014

They are the registered owner because the flat had been originally allocated to the landowner and the same is registered. Still the original allottees are the owner and not the builder even though the documents are updated but the same has not been registered yet. Unless and until the builder get the agreement registered he will not become the owner and has no legal right to transfer the same. He cannot transfer which he does not own.

Rakesh, Bangalore

25th February 2014

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