Hi Sir,
I am from Banglore, I am planning to purchase a plot in Ankeal in a gated community. This layout is approved by BMRDA. The builder has quoted me around 30L. I am ready to go for this and want to pay the entire amount and get the plot registered. The issue is there are alot of unreleased plots from BMRDA. The developer want me to book the plot by paying 1L and then after that said he will give legal documents for verification and a time of about 20 days for this and if i am ok with the legal documents he want me to go ahead with an agreeement. He says that as this is an unreleased plot he cannot register the plot on my name right now but want to go in an agreement first after i pay 25% of the total amount and then once the plot is releaes(probably in april 2013) he will call up for registration. There is a new rule from BMRDA that the developer will be given only soome % of plots for selling at the time of starting the layout and after the developer completes the entire developmental activities like club house, sevage, rainwater harvesting etc then BMRDA will release the other remaining plots for sale. So, Can i go ahead with an agreement with the developer? is it safe. What is the validity of the agreement. I would like to have an advise of yours. Thank u in advance
