A startling news clipping read states that Fully Developed Sites attracts GST. The order has to be examined in depth to understand the levy of GST. This will affect the realty sector across the country at a time, when the realty sector reeling under multiple issues.
It was announced in the media that the karnataka state government has taken a decision to repeal or scrap Section 79A and 79B of the KLR Act. Earlier the aforesaid sections restricted the purchase of agriculture lands by non agriculturists, as it might be repealed and notified soon, anybody, or any non-agriculturist can buy the … Continue reading PROPERTY MARKET-Non-Agriculturists can also buy agricultural lands in karnataka-Notification Awaited
There is regular briefing on the daily coronovirus affected persons and areas by the respective district and municipal administration, warning the citizens to maintain safety distance and cleanliness. It is learnt that Covid-19 has engulfed all zones of Bangalore and wards. There are too many intruders and illegal entrants to Bangalore from other states, jumping … Continue reading Covid-19 is spreading its wings across Bangalore-Few Hotels and Restaurants have become the super spreader
The State Government has decided to regularise the illegal constructions of residential buildings with penalty for the buildings constructed 12 years ago. The penalties have also been decided and the same will be notified soon.
Any indian citizen (except NRI) can buy agricultural lands in karnataka and can covert it for residential use (if it lies in residential zone) or industrial use (if it lies in industrial zone) or Commercial Activity (if it lies in commercial zone) as per the Zonal regulations of the Town Planning Authority. The buyer need … Continue reading PURCHASE & TRANSACTION OF AGRICULTURAL LANDS IN KARNATAKA MADE EASY
It is learnt that the Government of Karnataka has repealed Section 79A and 79B of the Karnataka Land Reforms Act, thus paving the way for the easy transaction and sale of agricultural lands in karnataka without the RTC and Income Limits. Now, anybody can buy and sell agricultural lands in karnataka. (Subject to the official … Continue reading ANY BODY CAN BUY AGRICULTURAL LANDS WITHOUT INCOME CEILING IN KARNATAKA
We thank all the Corono Warriors.
There are few NRI properties for sale. Please check the acquisition of property by the NRI whether it is as per the legal parameters and also a serious investigation into the tax issued related to it. We suggest the buyers to avail the services of a Chartered Accountant with NRI expertise in money and tax … Continue reading Purchase of Properties from Non-Resident Indians and the regularised properties
It is learnt that the Government will come out with an amendment and will be filed before the Supreme Court to obtain its clearance to regularise the illegal buildings and it is proposed to regularise the DC Converted or B Katha Sites. Similarly, the buildings constructed on BDA Acquired land estimated around 2000 acres to … Continue reading AKRAMA-SAKRAMA-REGULARISATION OF ILLEGAL BUILDINGS- An Update
The BBMP Commissioner issued a notification dated 28-04-2020 extending the property tax rebate period from 30-04-2020 to 31-05-2020 to the citizens due to Covid-19. Property owners and tax payers can avail this offer and can pay taxes to BBMP online.
As usual, the BBMP has proposed the conversion of B katha to A katha and the file has been sent to the Government for the approval and further action on this. This is to regularise the DC Converted sites, which are not approved by the planning authorities like BDA and BMRDA. Katha change does not … Continue reading ANOTHER MONEY SPINNER-BBMP Propose to convert `B` Katha to `A` Katha
It is learnt that the Government is seriously considering the amendment to the KTCP Act to kickstart the Notorious AKARMA-SAKRAMA, by modifying or amending or changing the clauses, which are objected to it in the Supreme Court. Akrama-Sakrama may be a reality after 13 long years. In all the probability, The Scheme may be implemented … Continue reading AKRAMA-SAKRAMA-Regularisation of illegal, unauthorised and buildings with deviation in Karnataka-2020
The money strapped Government is making all efforts to collect money in all the available ways. Borrow.Sell BDA corner sites.Bring in the AKRAMA-SAKRAMA.Levy new tax.Regularise houses illegally constructed on THE BDA LAND.Regularisation of DC Converted Property.Revenue Sites registration. The easiest way to get money, not for any development, for survival, is to BORROW. This has … Continue reading COMING-COMING-NEVER CAME-THE NOTORIOUS AKRAMA-SAKRAMA-
Many tempting offers, so many free bees and at lowest rates- It is a TRAP. There are over 2,00,000 apartments ( new-old-resale-bank attached-distress sale) and many more will be in the market within 3 to 6 months. The realty sector will have more properties to SELL, but their prices have not COME DOWN OR REDUCED. … Continue reading ON LINE Sale of Properties – Watch out – Do not jump out and book – WAIT
https://youtu.be/pkk0tk5WUtA WE THANK ASHWINI KUMAR BHAT AND HIS TEAM
Just for a change, let us watch this and save our precious nature and forest. https://youtu.be/Rszpqf0vTxk
The lockdown announced by the Government has adverse impact on the economy and it might take a long time for the recovery. The RBI has announced the deferment of the EMI on the personal loans, Credit Card and Home Loans for 3 months. But the dues must be paid with interest in the coming months. … Continue reading Coronovirus effect on the personal finances and property
In order to contain the Coronovirus, the State Government of Karnataka has clamped complete lock down and has advised citizen to self quarantine themselves by staying back home. Severe legal action will be taken on those who violate it. Except Emergency and Essential Services are permitted. All other services are hereby stalled and all stores, … Continue reading CORONOVIRUS-LOCK DOWN OF THE ENTIRE STATE BY THE ADMINISTRATION
In a major setback to BBMP, the SC declined to entertain the application for a TI and said that it would confirm the order of the High Court related to the survey and subsequent removal or demolition of illegal structures or constructions in the BBMP Limits. Earlier, the High Court of Karnataka directed the BBMP … Continue reading BBMP gets slap from SC for the application on the High Court Orders regarding Illegal and unauthorised buildings and constructions