First of all i would like to wish everyone a very pleasant 2011 .
To start the year petrol prices have already gone up. To add to it, along with the rising mercury house rents are also going up in Bangalore. So in the new year I decided to book a flat. Its better to pay EMI than paying rent. I got to know that one flat is on sale in the same apartment where I am staying currently. This is a six years old apartment with basic amenities. the biggest advantage of the apartment is its location. Its very near to the IT park where most of the software companies have their offices. The apartment is on the main road and there is a shopping mall just opposite to it. Petrol pump, supermarket, Mc Donald's, Basking n Robbins, good hospital, temple all these are situated just a stone throw away from the apartment. There was hardly any reason not to go for the flat. On top of all these the flat is a very specious and properly lighted one.
I immediately collected the flat owner's phone number from the apartment manager and called him up. We decided to meet in the weekend and finalize the price. On Sunday i got up early, took bath and went to temple. After all it was my first house deal. The owner had already reached my place by the time I came back from the temple. i didn't even have time to have my breakfast. We talked and decided on the price. He handed over to me the set of documents of the flat and I handed him over the cheque for the advance amount for booking the flat.. I was feeling like flying in the air.
The next day I started my loan processing. Everything was clear and there was no issue with my eligibility for the loan. So I was quite sure that the loan would get approved. I had started dreaming about the colour of the drapes, the new furniture and a small party :). After 4 days a bank person came to take some photographs of the flat. When he was about to leave he told something that pulled the land below my feel. The one line- ' The apartment comes under road widening. So I have to check it'....and that's it. I asked him how did he get to know and he told that its mentioned on the boundary wall.
I was shocked to death. How could I be such a dumbo not to notice something like this. The apartment has proper approvals...how can it come under road widening. I rushed outside to see what is written on the boundary wall. Can anyone guess what was written ? 3.4with a upside arrow mark beside it in red colour. What would one understand from it? I had seen that from since the day I came to this apartment and I had thought its the height of the boundary wall. What is 3.4? it is meter or feet or cm or hour? What the hell someone will understand from that?
The bank person took the measurement and confirmed that the flat will not get affected, but some portion of the building might get affected. I was heart broken and almost made up my mind not to go for the flat. The owner is yet to return my advance amount.
I am just 26 and by God's race was saved from a risk. But i could not sleep thinking about the families who have bought the flats investing all their savings. What is their fault? They have put their life long savings or have taken loans to own a house in Bangalore city that has been approved by the authorities. If their house will get affected they will get some compensation based upon the Govt valuation and I don't need to tell the difference between Govt valuation and the price at which the flats get sold. अब तोह भगवन ही भरोसा .
To start the year petrol prices have already gone up. To add to it, along with the rising mercury house rents are also going up in Bangalore. So in the new year I decided to book a flat. Its better to pay EMI than paying rent. I got to know that one flat is on sale in the same apartment where I am staying currently. This is a six years old apartment with basic amenities. the biggest advantage of the apartment is its location. Its very near to the IT park where most of the software companies have their offices. The apartment is on the main road and there is a shopping mall just opposite to it. Petrol pump, supermarket, Mc Donald's, Basking n Robbins, good hospital, temple all these are situated just a stone throw away from the apartment. There was hardly any reason not to go for the flat. On top of all these the flat is a very specious and properly lighted one.
I immediately collected the flat owner's phone number from the apartment manager and called him up. We decided to meet in the weekend and finalize the price. On Sunday i got up early, took bath and went to temple. After all it was my first house deal. The owner had already reached my place by the time I came back from the temple. i didn't even have time to have my breakfast. We talked and decided on the price. He handed over to me the set of documents of the flat and I handed him over the cheque for the advance amount for booking the flat.. I was feeling like flying in the air.
The next day I started my loan processing. Everything was clear and there was no issue with my eligibility for the loan. So I was quite sure that the loan would get approved. I had started dreaming about the colour of the drapes, the new furniture and a small party :). After 4 days a bank person came to take some photographs of the flat. When he was about to leave he told something that pulled the land below my feel. The one line- ' The apartment comes under road widening. So I have to check it'....and that's it. I asked him how did he get to know and he told that its mentioned on the boundary wall.
I was shocked to death. How could I be such a dumbo not to notice something like this. The apartment has proper approvals...how can it come under road widening. I rushed outside to see what is written on the boundary wall. Can anyone guess what was written ? 3.4with a upside arrow mark beside it in red colour. What would one understand from it? I had seen that from since the day I came to this apartment and I had thought its the height of the boundary wall. What is 3.4? it is meter or feet or cm or hour? What the hell someone will understand from that?
The bank person took the measurement and confirmed that the flat will not get affected, but some portion of the building might get affected. I was heart broken and almost made up my mind not to go for the flat. The owner is yet to return my advance amount.
I am just 26 and by God's race was saved from a risk. But i could not sleep thinking about the families who have bought the flats investing all their savings. What is their fault? They have put their life long savings or have taken loans to own a house in Bangalore city that has been approved by the authorities. If their house will get affected they will get some compensation based upon the Govt valuation and I don't need to tell the difference between Govt valuation and the price at which the flats get sold. अब तोह भगवन ही भरोसा .
