Indian property investors warned of rogue developments
September 12, 2008 by OPPE News
Indian planning officials have warned property buyers not purchase units in unapproved development layouts after some were advertised through local TV and newspapers.
The Bangalore Development Authority (BDA) said it had noted private builder Granity Properties and been promoting sites in the ‘Europeon Township’, being built at Boodigere Cross near Old Madrass Road in the city.
The BDA also said the firm had said the proposed layout falls within the local planning area.
A BDA statement read:
“In this case neither has the BDA approved the layout plan nor were any layout plan proposals submitted by the company for sanctioning.
“Therefore the buyers and related companies are solely responsible for any problems emerging out of such transactions in unauthorised layouts.”
According to law in the area, it is mandatory to get a development’s layout plan approved by the BDA if it falls under Bangalore’s local planning area.
The authority also advised the public to not buy sites in unauthorised layouts and said a list of sanctioned plans were available on its website at www.bdabangalore.org.
The Granity Properties website also lists details of the European Township, saying BDA approval is “under process”.
A downloadable brochure on the project says it is where
“nature binds you in its spell of beauty and freshness”.
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This is really good information to buyers.