BENGALURU: The Bangalore Development Authority (BDA) has recommended that BDA site owners in Nadaprabhu Kempegowda Layout Phase-II be handed over the Absolute Sale Deed immediately after full payment of the site’s cost. Presently, site allottees need to wait for 10 years before they are handed the document.
A total of 4,970 allottees have been provided sites in KG Layout Phase-II. The move, decided upon during the BDA Board meeting on Saturday, will also be extended to the 5,000 site allottees of Phase-I later. “It is being sent to the government for approval now,” a senior BDA official told TNIE, adding, “Many site owners had requested us for it.
At present, we only issue a lease-cum-sale deed to a site allottee. The lease period runs to 10 years and the allottee can sell the site only after the expiry of the lease period.”
BDA is reintroducing this move after 14 years, another official said. “During Chief Minister S M Krishna’s period from 1999 to 2004, Absolute Sale Deeds were given to BDA Layout allottees in Anjanapura, Vishweshwaraya Layout and Banashankari. It was withdrawn later.”
B Mohan, allotted a 40x60 site in Bhimmanakuppe, said, “I welcome the proposal wholeheartedly, and so will many others. I have no plans to sell it, but at least 25 per cent of allottees would like to sell it to meet marriage or education expenses for their children. Not having to wait for 10 years to do it will be a big relief.”
N Sridhar (63), who got a 30x40 site in Komaghatta area, also expressed his happiness with the proposal.
“I salute BDA if they can introduce this. You must remember that most allottees are senior citizens. If the Absolute Sale Deed is in our hand, we can even mortgage our site if required to meet our medical ailments or other financial emergencies.” He added, “During my lifetime, if I want to transfer the site in the name of my wife, son or daughter, I can now do so rather than wait for 10 years to do it.”
However, AS Surya Kiran, allotted a 30x40 site in Challaghatta area in Phase-II, said he would have preferred if BDA had reduced the period of handing over to five years instead of the existing 10, rather than do away with it altogether.
“The move would plunge many allottees into a mini real estate business. Most will not carry out any construction on their plot and wait for the right time to sell their sites,” he said, adding that such a scenario would affect him, since many civic amenities are provided by BDA only after several houses come up in a layout.