CHENNAI – BENGALURU EXPRESS HIGH WAY is on Fast Track – Industrial Corridor is all set to pick up


The National Highways Authority of India is acquiring lands for the widening of Express Highway to Chennai to 6 lanes and thus reducing the distance between Chennai to Bengaluru to 276 KM and a travelling time of 3 to 4 hours to reach either destination.  This will accelerate the development across a part of Karnataka … Continue reading CHENNAI – BENGALURU EXPRESS HIGH WAY is on Fast Track – Industrial Corridor is all set to pick up

AKRAMA SAKRAMA – BBMP CIRCULAR – IT IS STILL IN THE COURT


AKRAMA SAKRAMA CIRCULAR-BBMP- MORE CONFUSION Though the Akrama Sakrama is still hanging in the High Court Of karnatka, The BBMP has issued a circular regarding the Akrama Sakrama, The circular, for the first time, puts forth a guideline to calculate the violations and deviations with retrospective CDP/ODP plans which were prevalent during the year of … Continue reading AKRAMA SAKRAMA – BBMP CIRCULAR – IT IS STILL IN THE COURT

LIES AND LIES – NOTHING MORE


1). WE HAVE ALL LEGAL DOCUMENTS. If so, why the Government recovers the land? Even the Government has documents. The Government allotted the land for industrial use at a very cheaper price with a condition that it must be used for industrial purpose only, hoping that the joy ice cream will provide jobs and develop … Continue reading LIES AND LIES – NOTHING MORE

PROPERTY BUYERS ARE TAKEN FOR A ROYAL RIDE BY THE BUILDER AGAIN – LIFE LONG LITIGATION –


THE STATE GOVERNMENT HAS HANDED OVER 3.2 ACRES OF LAND AT SURVEY NO.42, PATTANDUR AGARAHARA, WHITEFIELD TO THE KIADB FOR THE ALLOTMENT OF INDUSTRIAL LAND FOR INDUSTRIAL PURPOSE TO BE ALLOTTED TO JOY ICE CREAM COMPANY ON THE CONDITION THAT IT MUST NOT BE USED FOR ANY OTHER PURPOSE OTHER THAN INDUSTRIAL AND SPECIFICALLY FOR … Continue reading PROPERTY BUYERS ARE TAKEN FOR A ROYAL RIDE BY THE BUILDER AGAIN – LIFE LONG LITIGATION –

PRESTIGE GETS THE BAD TASTE FOR ENCROACHMENT INDUSTRIAL LAND – SOLD BY JOY ICE CREAM – ENJOY


THE DISTRICT ADMINISTRATION HAS FINALLY FLOGGED THE HIGH AND MIGHTY-THE CREDAI`S NOTED BUILDER FOR HAVING BOUGHT THE INDUSTRIAL LAND FROM JOY ICE CREAMS VIOLATING THE ALLOTMENT AND SALE DEED CONDITIONS AND TRIED TO OBTAIN THE BUILDING PLAN AT SURVEY NO.42,PATTANDUR AGRAHARA, WHITEFIELD, BANGALORE. THE STATE ADMINISTRATION HAS DONE A MARVELLOUS JOB IN RECOVERING A HIGHLY … Continue reading PRESTIGE GETS THE BAD TASTE FOR ENCROACHMENT INDUSTRIAL LAND – SOLD BY JOY ICE CREAM – ENJOY

REALTY MARKET ACROSS INDIA – A SLOW DOWN


There is an eerie silence in the realty market and there is gradual fall in the fortunes of the sector over the last couple of years has failed to halt the downlisde, despite the big announcements and promises by the government on reforms across sectors including ease of doing business and Income Tax deduction of … Continue reading REALTY MARKET ACROSS INDIA – A SLOW DOWN

NATIONAL PENSION SCHEME – AN ADDITIONAL DEDUCTION OF Rs.50,000/- (SUBJECT TO CLARIFICATION)


NATIONAL PENSION SCHEME – Additional Deduction of Rs. 50,000/- Further w.e.f. FY 2015-16, in addition to the deduction u/s 80 CCD (1), deduction of Rs. 50,000 has been on contribution in NPS. (U/s 80CCD(1B))(Subject to the clarification from the Finance Ministry)             The National Pension System (NPS) was launched by Government of India on … Continue reading NATIONAL PENSION SCHEME – AN ADDITIONAL DEDUCTION OF Rs.50,000/- (SUBJECT TO CLARIFICATION)

TRUE FIRST RANK HOLDER IN PUC EXAMINATIONS AT KARNATAKA


17 YEAR OLD SHALINI GETS `1ST RANK`  IN `LIFE AND HUMANITY STUDIES` !!!!!!!!!!!!!!!!!!! `BRAVO` – WISH HER ALL THE BEST IN HER ENDEAVOR SHE HAS PROVED THAT `WHERE THERE IS A WILL, THERE IS A WAY` A NEWS REPORT 17-year-old works as maid in five houses, secures 85% CONGRATULATIONS She has scored 84. 8 per … Continue reading TRUE FIRST RANK HOLDER IN PUC EXAMINATIONS AT KARNATAKA

Service Tax – 14% will come into effect only from the date of notification


The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 now becomes Finance Act (No.20), 2015. However, it is to be noted here that increase in the rate of Service tax from 12.36% to flat 14% (Subsuming Education cess and Secondary & Higher Secondary … Continue reading Service Tax – 14% will come into effect only from the date of notification

D C CONVERTED SITES AND COMPLICATIONS WITH REGULARISATION OR AKRAMA SAKRAMA


THE RESIDENTIALLY CONVERTED LAND BY THE ORDER OF THE DEPUTY COMMISSIONER OF THE DISTRICT IS USUALLY MENTIONED AS DC CONVERTED OR CONVERTED SITES IN KARNATAKA, THE USE OF SUCH LANDS IS CHANGED FROM AGRICULTURE TO NON AGRICULTURE PURPOSE AND APPROPRIATE FINE IS PAID, BUT THIS ORDER CARRIES WITH IT, NUMBER OF CONDITIONS, WITHOUT THE COMPLIANCE … Continue reading D C CONVERTED SITES AND COMPLICATIONS WITH REGULARISATION OR AKRAMA SAKRAMA

BUYING A PROPERTY/APARTMENT IN ARKAVATHY LAYOUT ZONE – WATCH OUT


THERE ARE TOOOOOOOOO MANY COMPLEX ISSUES SURROUNDING THE ARKAVATHY LAYOUT SITES AND APARTMENTS. SOME HAVE BDA APPROVED BUILDING PLANS FOR APARTMENTS AND SOME ARE BDA APPROVED LAYOUTS AND SOME ARE TECH ZONES BY DEVELOPERS, BUT, ALL OF THESE HAVE TO BE COMPULSORILY SCRUTINIZED. BDA IS A TECHNICAL BODY, PROVIDES/SANCTION/APPROVE LAYOUTS AND BUILDINGS AS PER THE … Continue reading BUYING A PROPERTY/APARTMENT IN ARKAVATHY LAYOUT ZONE – WATCH OUT

MANTRI GROUP PUNISHED – NATIONAL GREEN TRIBUNAL LEVIES PENALTY ON MATRI TECHZONE PVT LTD


NATIONAL GREEN TRIBUNAL (NGT) IMPOSED A HEFTY PENALTY OF RS.139.85 CRORES TO THE Mantri Techzone Pvt Ltd  and Core Mind Software and Services Pvt Ltd, is developing massive commercial projects, including Special Economic Zone (SEZ), hotels, residential apartments and mall, spread across 80 acres land immediately abutting the Agara Lake and more particularly identified as lying … Continue reading MANTRI GROUP PUNISHED – NATIONAL GREEN TRIBUNAL LEVIES PENALTY ON MATRI TECHZONE PVT LTD

REALTY MARKET IN BANGALORE


THE SALE OF APARTMENTS HAS SLOWED DOWN DUE TO ABNORMAL PRICES AND DWINDLING OF THE DEMAND.  THE RENT SCENARIO IS MUCH WORSE.  THE RETURN ON INVESTMENT IN RESIDENTIAL BUILDING IN THE FORM OF RENT AFTER THE MAINTENANCE AND TAXES IS 2% TO 8% AND IN COMMERCIAL BUILDINGS, IT IS 2% TO 16% AND IN INDUSTRIAL … Continue reading REALTY MARKET IN BANGALORE

LOSS OF PROPERTY/HOUSE-DUE TO ENCROACHMENT AND VIOLATION – Examine and initiate appropriate legal proceedings immediately


DO NOT JUMP INTO LEGAL JUNGLE, WITHOUT THOROUGH AND DILIGENT ENQUIRY, COLLECT ALL THE NECESSARY DOCUMENTS AND EVIDENCE AND THEN INITIATE APPROPRIATE LEGAL ACTION AGAINST THE SELLERS-WHO HAS SOLD THE PROPERTY TO YOU. MANY, WITH HALF KNOWLEDGE PROMISES THE AFFECTED PROPERTY OWNERS THAT THEY CAN RECOVER THE LAND LOST.  DO NOT BELIEVE AND LOOSE YOUR … Continue reading LOSS OF PROPERTY/HOUSE-DUE TO ENCROACHMENT AND VIOLATION – Examine and initiate appropriate legal proceedings immediately

PROPERTY LOST/DEMOLISHED IN THE LAKE BED, GOMALA, CIVIC AMENITY SITES, GUNDU THOPU, BDA, KIADB LAND AND OTHER ENCROACHEMENTS SOLD BY LAND MAFIA AND DEVELOPERS = THE LOOSERS/PROPERTY(PRESENT) OWNERS OF THE PROPERTY CAN SUE THE SELLERS/BUILDERS AND RECOVER THE AMOUNT ALONG WITH DAMAGES AND COMPENSATION


HAVE YOU BOUGHT A PROPERTY, WHICH IS TERMED AS ILLEGAL OR IRREGULAR OR SOLD WITH FAKE OR FABRICATED DOCUMENTS OR CLOSE TO RAJA KALUVE OR LAKE? DO NOT LOOSE HOPE.  THE OWNERS, IF ALL OTHER THINGS ARE GOOD, CAN FIGHT AND INITIATE ACTION AND RECOVER THE LOSS, BASED ON THE DOCUMENTS ON WHICH IT IS … Continue reading PROPERTY LOST/DEMOLISHED IN THE LAKE BED, GOMALA, CIVIC AMENITY SITES, GUNDU THOPU, BDA, KIADB LAND AND OTHER ENCROACHEMENTS SOLD BY LAND MAFIA AND DEVELOPERS = THE LOOSERS/PROPERTY(PRESENT) OWNERS OF THE PROPERTY CAN SUE THE SELLERS/BUILDERS AND RECOVER THE AMOUNT ALONG WITH DAMAGES AND COMPENSATION

DEMOLITION, RECOVERY, ENCROACHMENT, A KATHA, B KATHA, E KATHA, NO KATHA ETC


WAY BACK IN 1960`S TO 1980`S, THE PROPERTY PURCHASE WAS USUALLY DONE THROUGH KNOWN PERSONS OR CHANNELS OR NEIGHBOURS AND THERE WAS NOT MUCH OF "HOME LOANS" AT BANGALORE AND DUE TO THE SUDDEN DEVELOPMENT, THE PRICES SPIRALLED AND THE TOUTS STARTED THE MISCHIEF WITH MANIPULATED-FAKE-BOGUS-WRONG REPRESENTATIONS-FACTS OF THE PROPERTY CONCEALED- TO MAKE MORE MONEY. … Continue reading DEMOLITION, RECOVERY, ENCROACHMENT, A KATHA, B KATHA, E KATHA, NO KATHA ETC