The Reserve Bank of India`s Governor Shri. Raghuram Rajan, today, cut the benchmark repo rate by 50 basis points to a 4-1/2-year low of 6.75 per cent in a surprise move.
The District Administration has recovered properties worth over Rs.150 Crores to Rs.200 Crores, at Hosakerehally, near PES College, Banashankari, Ring Road, Bangalore. A residential complex with 300 apartments appears to be in serious problem. (KIADB) in the same area. (Various irregularities noticed in the conversion and building plan approval) Banks might have blindly sanctioned the … Continue reading RECOVERY OF GOVERNMENT LANDS IN HOSKEREHALLY-RING ROAD-BANASHANKARI-NEAR PES COLLEGE
The forest department of karnataka has issued notices to over 50 persons including a powerful minister and three noted builders, who have several projects in that area, to submit their documents (title) and offer explanations towards such survey, revenue and title documents to the department. It is has been alleged that various persons have encroached … Continue reading SOBHA BUILDERS, MANTRI DEVELOPERS AND CENTURY DEVELOPERS MAY BE IN TROUBLE – IF PROVED
The State Government has increased the Guidance Value or the Circle Rates or the Market Price of the property in Bangalore Urban, Bangalore Rural District and Ramnagar District with 15 days notice to submit the objections, if any, with supporting documents or evidence. In some areas, the increase is very steep and on an average … Continue reading PROPERTY GUIDANCE VALUE REVISED OR INCREASED IN BANGALORE URBAN AND RURAL DISTRICT WITH 15 DAYS NOTICE TO FILE OBJECTIONS
The Fire and Emergency Services department has directed the BESCOM and BWSSB to stop the power and water supply to the NON COMPLYING errant apartment complex in bangalore around 139 buildings, in lieu with the High Court Directives and the State Government New circular regarding the safety of the buildings. It has also been noticed … Continue reading KARNATAKA – FIRE AND EMERGENCY SERVICES DEPARTMENT DIRECTS BESCOM AND BWSSB TO STOP AND DISCONNECT POWER AND WATER SUPPLY TO ERRANT HOUSING COMPLEXES WHICH HAVE NOT COMPLIED WITH SAFETY MEASURES
Bought an apartment or propose buy an apartment close or in the vicinity of the defence airforce stations like JAKKUR, YELAHANKA AND JALAHALLY, the builders of high rise structures MUST GET OR OBTAIN NO OBJECTION CERTIFICATE FROM THE AIRFORCE BASE OR STATION AND THE DEFENCE MINISTRY. It is to be noted neither the BBMP nor … Continue reading BUYING AN APARTMENT IN AND AROUND AND NEAR JAKKUR, YELAHANKA AND JALAHALLY AIRFORCE STATIONS ?????????????
The prestige white meadows (enjoy ice cream) bought by prestige group from joy ice cream, which was allotted to them by the Government to run an industrial unit, at a very low price, was sold to prestige. The price of apartments/villas in this project is all in crores. The land was acquired by the Government … Continue reading PRESTIGE WHITE MEADOWS – DROWNED IN LITIGATION
LAND SCAM IN ALLALASANDRA VILLAGE, NEAR JAKKUR, Yelahanka hobli, Bangalore Additional North Taluk, Bangalore Urban District. Former Chief Minister and JD(S) leader H D Kumaraswamy, in a press conference on September, 21, has alleged that major and medium Industries Minister R V Deshpande and his family encroached huge stretch of lands in Jakkur Allalasandra along with two notorious builders worth … Continue reading ENCROACHMENT OF FOREST LAND – LAND SCAM – ALLEGATION BY FORMER CHIEF MINISTER SRI.H.D.KUMARASWAY – ALLALASANDRA VILLAGE, NEAR JAKKUR, YELAHANKA HOBLI, BANGALORE ADDITIONAL NORTH TALUK – ALLEGATION AGAINST ONE MINISTER AND TWO BUILDERS
The Karnataka Government has directed the Fire and Emergency Services and allied departments to regularly conduct checking of residential and commercial complexes across the state regarding the compliance of the directives issued at the time of issuing the NOC to occupy the complex or the building. It has been found that over 13000 apartments/commercial complexes … Continue reading APARTMENT OWNERS ASSOCIATION IN KARNATAKA – MOSTLY LOCATED IN BANGALORE – MAY FACE HEAT FOR NON-COMPLIANCE OF DIRECTIONS OR CONDITIONS OF APPROVAL FROM FIRE AND EMERGENCY SERVICES DEPARTMENT
The Tamil Nadu government has decided to make it mandatory for all new multistory (more than four floors) buildings in the state to have solar power generation facility. The chief minister J Jayalalithaa said the rule would be applicable to all group developments (with more than eight dwelling units) also. In effect, it will cover … Continue reading Solar Power is a must for Multistory buildings in Tamil Nadu
Builders delaying handing over of buildings to buyers within time or using substandard material in construction are liable to pay damages to the purchasers for any financial loss or physical inconvenience suffered by them, a Delhi court has said. The court’s observation came as it decided a suit filed by Dalmia Cement (Bharat) Ltd seeking … Continue reading Builders delaying projects liable to pay damages -DELHI COURT
Builders and Sellers are never satisfied with the price they procured for their properties and at the same time nor the Buyers of properties are happy or satisfied with the price of the properties bought. This is a never ending fiasco !!! But, the prices in the property market in Bangalore is NOT LOOKING UP. … Continue reading PROPERTY PRICES IN BANGALORE REALTY MARKET IS NOT SHOOTING UP !!!!
International Monetary Fund (IMF) Chief Christine Lagarde has said that India is among the few bright spots in the global economy. Her remarks came at the meeting of G20 Finance Minister and Central Bank Governors on Friday where they discussed Chinese economic slowdown and monetary policy uncertainties looming large on global markets. Ms. Lagarde told … Continue reading India among emerging economies, if there is any growth, that is in India, says Christine Lagarde
The Department of Stamps and Registration is embarking upon the revision of guideline values for the registration of properties across the state and might effect the same by October, 2015. The revision of Guideline value has been taken up on a yearly basis and it is based on the market values. The property market in … Continue reading PROPERTY REGISTRATION VALUE MIGHT GO UP BY 10% TO 30% IN KARNATAKA
There is acute power shortage and there will be acute potable water shortage in the state, inspite of moderate rains. The scheduled power cut is for 4 hours in bangalore and it is more than 12 hours in rural areas. The water storage in the reservoirs is dwindling and the state could provide only One … Continue reading POWER CUT AND ACUTE WATER SHORTAGE IN KARNATAKA
The Finance Ministry has notified that the last day for filing income tax returns has been extended to 07-09-2015.
BDA has decided to allot sites after a very long time in Nadaprabhu Kempegowda Laout. A Press Report:
The Bangalore Development Authority might soon allot the apartments built and ready to move in to the applicants, but, wait for the price.
THE HIGH COURT OF KARNATAKA HAS RESTRAINED THE FOLLOWING THREE BUILDERS FROM CREATING THIRD PARTY INTEREST IN THE APARTMENTS OR PROJECTS ON MULTISTORIED APARTMENT COMPLEX AT BEGUR VILLAGE, BEGUR HOBLI, BANGALORE SOUTH TALUK, TILL FURTHER ORDERS. M/S.Sudela Constructions Private Limited (HIRANANDANAI) IN BANGALORE SOUTH (HIRANANDANI UPSCALE), DLF BANGALORE SOUTH AND ANNBEL BUILDERS AND DEVELOPERS BEGUR … Continue reading – DLF SOUTHERN HOMES PRIVATE LIMITED , ANNABEL DEVELOPERS AND BUILDERS AND SAUDELA CONSTRUCTIONS PRIVATE LIMITED – BEGUR ROAD – BANGALORE SOUTH – UNDER LITIGATION – NO SALES – NO SALE DEEDS – NO POSSESSION – NOT TO CREATE THIRD PARTY INTEREST – HIGH COURT ORDERS
The Government has decided to increase the property tax by 15% from 01-04-2016, as it was not renewed for the last 6 years. There is more news to Bangaloreans. Brace for Unscheduled power cuts in Bangalore for more than 2 hours a day and the duration of power cuts will go up due to power … Continue reading PROPERTY TAXES MIGHT BE INCREASED IN BANGALORE ALONG WITH UNSCHEDULED POWER CUTS