Is it mandatory to go have Katha certificate issued by BMP / BBMP for buying a property in Bangalore?
Question asked by Kiran from Florida, USA:
Sir/Madam,
I was going through some of the posts at your website.
I have an issue and require your assistance.
I am Kiran living in Florida, USA.
I wanted to buy a 3-Bed Rood apartment in Bangalore.
We checked the documents provided by the builder with a lawyer and as we got a satisfactory feedback we entered into sale agreement to buy the flat.
We paid around 6 lakhs during that process and also started the home loan process.
The bank says that they need the Khata certificate from the Builder issued by BMP. The builder says that he has the Khata certificate issued by CMC. Also, the bank asks for tax paid receipts for the current year, which the builder provided a copy. The bank people say that the tax paid receipt is invalid and the dates and years are messed up with a whitener.
Now, is it mandatory to go have
1. Katha certificate issued by BMP / BBMP.
2. Tax paid receipt for the latest year.
3. If I want to cancel the sale deed and get back the money is it possible? What are the formalities?
Please let advice us.
Kiran
Florida
Vatsala Answers:
The CMC areas have merged with the BBMP area. For registration purpose, the sub registrar is insisting on Khata from BBMP and up to date tax paid receipt. However the BBMP is delaying the issue of Khata for administrative reasons. This is a temporary situation. You can give a bond to the bank stating that as and when these documents become available, you will furnish the same to them. If you want to get out of the deal, you can try sending a legal notice to the builder asking for the BBMP Khata and tax receipt, failing which you cannot complete the transaction and will therefore rescind the contract. Vatsala
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