BBMP loses a developed PARK for the second time

By: Unknown on 5:26 AM

This is the second time BBMP lost 16 guntas of land if you have remembered our previous post on how court verdict BBMP to loose plot and now  it is finalized. The land which measures about 17, 425 sq. ft. and was a well-developed park in Jaraganahalli, off Bannerghatta Road close to J P Nagar to one Mr. V Krishna Murthy. On February 2016 BBMP lost 10, 889 sq. ft. of park land located at Koramangala V Block to a Jayanagar resident Mr. Pratap Kumar Reddy. This park is situated in Bommanahalli and the price of 17, 425 sq. ft. of land costs around Rs. 14 crores at the rate of Rs. 8, 000 per square feet. The first one that BBMP lost was estimated to be costing about Rs. 20 crores.

This park that was lost by BBMP to Mr. V Krishna Murthy consisted of a play area, pathways and a garden. This was developed by BBMP at a cost of Rs. 1.5 crores which is necessarily tax payer’s money. BBMP developed the park and fenced it and subsequently fought a law suit with Mr. Murthy for eight years. 

Jaraganahalli Park built in illegal land by BBMP

After eight years BBMP lost the case on the final verdict of the court on April the 5^th 2016 in the XXVII additional City Civil Court to Mr. Murthy.

In the final verdict the court directed the BBMP to remove the fencing of barbed wire and also to demolish the cemented road in the park. Subsequently BBMP should hand over the possession of the park to Mr. Murthy. The court ordered that Mr. Murthy is the sole owner of the property with survey no. 72/1A2 and the other is the OS no. 591/2003.

After one of the defendants, Mr. J N Lokesh working as an Assistant Engineer did not appear in the court for the purpose of cross examination, was the case discarded. Subsequently another assistant engineer who was another defendant appeared and was examined. In his written statement he maintained that Sy. No. 72/1A is in the name of Mr. V Krishna Murthy.

The lower court passed the judgement stating that the government had acquired the 3 acres of the said land for the purpose of constructing the residential layouts which was meant to be distributed to the economically weaker sections of the society. But the court gave the verdict that except for the land for the said purpose BBMP did not have any rights on the other remaining properties. Hence all the 16 guntas of the land does not belong to the BBMP.

The court maintained that Mr. Murthy had put a compound wall and also did construct a shed on the property. This meant, the court maintained that he was in the lawful possession of the property. On top of that the court also maintained that the records show that Mr. Murthy has sold only five acres of land out of the 16 guntas. The court maintained that this land was fenced by BBMP on the deputy commissioner’s directions on the date of February 24^th 2014 in the presence of the police officials. 

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Plots Gives Better Return On Investment

By: Unknown on 2:08 AM

Common man is always in a state of confusion to decide whether to invest in plots or flats in Bangalore. Flats look like a smart investment as people are assured of guaranteed return on investment in terms of monthly rentals and appreciation of property value. Let’s take a look at pros and cons of investing in plots or flats and help the buyers make the informed decision prior to venturing into such deals.

While buying an apartment customer does not think much about planning, designing and building a home. The buyer just pays the amount and occupies the home that has been provided to him by the builder. He can buy home but cannot make many changes to it, except the interiors.

On the other hand the customer buying residential plots in Bangalore has the flexibility of building the house immediately or at a later stage, whichever is comfortable to him. But he has to spend quite a lot of time to get the home designed, source the raw materials, build the home and manage the manpower.

When a person chooses to buy a site in Bangalore, especially, in rapidly developing areas, then he can reap rich benefits after few years.  When buying a site in a developing area of Bangalore the buyer has to pay lesser amount compared to developed areas of Bangalore. But after a while, when the area witnesses rapid growth and there is a huge influx of people, then the price of the land in that part of Bangalore keeps appreciating at a faster pace. It is not the same with flats because flats become worn out after few years and its value deteriorates compared to a plot in Bangalore.

The constructed home on plots carries the value of home along with the land, while a flat carries just the value of total carpet area along with the common area of an apartment. In some respects buying a flat helps the customers to gain tax benefits from the time of buying it, but, this doesn’t hold same with buying residential land plots. The customer will get the tax benefit only when he finishes constructing a home at that place.

There are few more downsides of buying a flat. The government regards one flat as a place of residing while any other flat apart from it, will be considered as a source of income, especially, in the form of rental. This rental amount is taxable to the customers. But the plots are not subjected to this type of a tax unless the customer has rented it out.

Though, both the sides of this argument carry pros and cons. The amount of time and energy spent on maintaining a plot in Bangalore is much lesser compared to the flats that are rented out. Thus, people can confidently buy sites in Bangalore and hope for better returns, but, they need to consult a lawyer in regards with the authenticity of the paper.

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