Khata Status?

[Rajdeep Misra]

Hi,

I have booked a flat in Oak, E Block. I spoke to Indya Estates yesterday and was told the 2nd phase construction would be approved by June-end and mails will be sent to us for the Sale Agreement. 

When I asked them about the Khata status, they said the property will have B Khata. Now, B Khata does not entitle you to take home loans from PSU Banks such as SBI, whose interest rates are one of the lowest & have transparent charges. Moreover, advocates say we will have no legal right over the property if it is in B Khata. Registering and transferring property in future will be difficult. Can somebody please throw some light on this topic? I am really worried.

Regards,

Rajdeep

9742691405

[deepti anand]

Hi Rajdeep,

I also have booked flat in OAK in D Block. B Khata is a big issue which means property is constructed on illegal land. This was not told to me when I booked the flat, I also got my home loan approved from LIC...although we can convert B khata property to A khata by paying betterment charges to BBMP ( around 15K) but as told to me by my lawyer property still remains illegal. We need to take this with INDYA estates so that they clarify this.

[Pushkar Pushp]

A-Khata depends on couple of documents(OC + CC and few other) and guess for A Khata we need to wait for atleast 2 years from now on in case of "Greens" but yeah builder should have the commencement certificate and in the end while taking possession we have to ask for Occupancy certificate which will come from BMRDA - but yes this needs a regular follow up from each individual or in group and no one should agree to take possession without an OC - this will keep us on the strong side, also if the builder is deviating\violating the master plan more than a prescribed %age limit generally its 15% it becomes hard to get A- Khata and 95% of builders in Bangalore deviate from actual plan and later they get the violated plan approved where we talk about sakarma and all - so this we need to watch out for and keep following in terms of master plan and deviation which we can see down the line once the construction goes in full swing.

 

Just on a side note - B Khata is nothing illegal as such and you can sell property if you have B Khata - My 1st property has also got B Khata and we are staying there since 5+ years now and now we are in process of regularizing the same and we may get A Khata but all depends on BBMP and few more parameters. Also A-Khata in general needs to be applied when more than 50% occupancy is there in the society because its easy to get A-Khata when applied in bulk so for Greens it will be min 2 years from now.

 

Please share if any other inputs.

 

Regards,

Pushkar

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[Raj]

1. Do they have the commencement certificate?
2. Is A/B khata applicable only to BBMP properties or to BMRDA also?
3. I am also not clear about how the "no-emi till possession" will work. Will there be a tripartite agreement between the Bank, developer & buyer where the developer agrees to pay the emis OR do we have to pay the emis & the developer would credit it back to our accounts? What happens if there is a delay in completion & issue of OC? Will they continue paying the emi or is there a cut-off date after which we have to start making the payments?
Any other potential "legal"areas of concern that should be discussed with the developer?

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[Pushkar Pushp]

I would advise - to get all such answers people who have booked flats should meet and discuss the same with builder now only before its too late.

[Puspenjit]

I just executed my agreement. Indya gave a separate latter of undertaking where they clearly mentioned that they will credit the interest part 2days prior to the EMI date till possession(not to any fixed date). For that they have taken a form where all the bank details are mentioned and a cancelled check for validation. I think we should not worry about that.

- Puspen

[Raj]

Good idea. Lets meet this weekend at a common place, get introduced, make a list of questions & discuss as a group with the builder.