THE REALITY OF THE REALTY MARKET


The real estate market is reeling under abnormal pressure due to NON-SALE, UNSOLD INVENTORY OR STOCK, DOWNWARD PRICE TREND, HIGH LABOUR COST, HIGH LAND COST AND ABOVE ALL , THE NEW LAW AND MOUNTING INTEREST.

Many of the builders will GO with the NEW LAW and few might remain.

The builders/sellers and brokers are creating artificial demand with different type of marketing technique and offering all kinds of baits to the buyers.

It is learnt that the banks, of late, in the last three months are feeling the default of the EMI and may soon begin the SEIZURE OF PROPERTIES OR ATTACH THE PROPERTIES IN coming months.

The builders are left of huge unsold stocks of apartments, but, they are clever liers, always boasting that all their projects are SOLD.

The reality is different in this sector.  

Unlimited lies.

Worst Quality.

Worst products.

Dangerous designs or structures.

Abnormal pricing.

Cheating by charging abnormal BESCOM and BWSSB Deposits.

VAT collected but not paid to Government and in many cases VAT is collected over and above the due amount.

SERVICE TAX collected and some of them have never paid it.

ARREARS OF TAXES is on the head of most of the builders.

All these factors will affect the buyers or the consumers.

 

OFFERS, DISCOUNTS, AMENITIES, CLUBS, LUXURY LIVING – RECENT TREND IN REALTY MARKET AT BANGALORE


Discounts, club memberships, offers, special amenities and various luxury facilities associated with the sale of apartments, villas and sites available to the gullible investors or the buyers,  offered by the developers and sellers is the new trend in marketing.

All the facilities and luxury living will remain only in the BROCHURES.  

How can these facilities and amenities offered?  At What cost?  At whose expense?

Where on earth the developers get money or funds to offer all these luxury living amenities?  

Are these offers really worth it? 

is the land cheap?

is the materials or the products used in the construction cheap?

is the labour cheap?

is the fees (unofficial) collected or spent  less?

is the administration and management cost low?

is the advertisement in newspapers and electronic media free ?

NO NO NO.  NEVER.  

Then How could the sellers/developers offer discounts, amenities and luxury living? 

All these offers, discounts, club memberships, amenities and luxury attachments and their value is ADDED in the Price.  Nothing comes free.  Nothing comes out of nothing.

The buyers pay for all of it.  Many buyers say that they bargained and got the best deal out of it.  God only knows their best deals.

The prices are shot up, the quality of the materials are compromised or cheapest product is used for the construction, construction quality is poor, the outdoor painting is the only factors, which might be good and all other factors used or utilised are cheapest among the cheap.

Study, understand, think and decide before buying the apartments.

 

PLATINUM CITY – WOES – WHEN WILL YOU GO TO JAIL? HIGH COURT


THE PLATINUM CITY APARTMENT COMPLEX AT YESHWANTHPUR MAIN ROAD, BANGALORE IS IN THE MIDST OF DEVIATION AND VIOLATION AND AN ANGRY COURT ASKED THE BUILDER, `WHEN WILL YOU GO TO JAIL`, AND THERE ARE INNUMERABLE NUMBER OF SUCH VIOLATORS AND DEVIATORS IN BANGALORE.

FAR THEFT(CHOR) IS COMMON AND THE BUYERS OF PROPERTIES ARE EQUALLY RESPONSIBLE FOR SUCH THEFT.  KNOWINGLY WELL, THAT THERE IS ABNORMAL DEVIATION AND VIOLATION IN THE CONSTRUCTION, IN MANY CASES, THERE ARE NO PROPER SANCTIONED PLANS AT ALL, BUY THEM, BECAUSE, THEY GET HOME LOAN.

THE BUILDERS MAFIA, BRIBES AND MISREPRESENTS THE FACTS TO THE BANKS AND FINANCIAL INSTITUTIONS AND THEY BLINDFOLD THEM, THE BANKS, IN A BID TO GAIN MORE BUSINESS, GRANTS THEM PRE APPROVAL AND THE BUYERS THINKING THAT `APPROVAL FROM BANKS MEANS THAT ALL THINGS ARE RIGHT AND THERE IS ABSOLUTELY NO PROBLEM WITH TITLE AND CONSTRUCTION, HENCE, THEY JUMP IN TO BANDWAGON AND THEN ENJOY THE MISERY FOR THEIR OWN STUPID DECISION.

WHEN THE LIES ARE DISCOVERED AND PENAL ACTION IS INITIATED, THEN, THE BUYERS, IMMEDIATELY BECOMES THE GREATEST HONEST CITIZEN, WHO HAS BEEN PENALISED NOT FOR HIS FAULTS, THE FAULTS OF THE GOVERNMENT, OFFICERS, BUILDERS, BANKERS AND THE WHOLE WORLD. 

WHEN THE MISTAKES AND LIES ARE POINTED OUT, IMMEDIATELY THEY TAKE THE SHELTER AND BLAME THE SYSTEM, SUB REGISTRAR, BBMP/BDA/BMRDA/DTCP/DC, ADMITTING THEY ARE NOT AWARE AND HAVE BEEN CHEATED.  IGNORANCE OF LAW IS NO EXCUSE. 

THE BUYERS OF ILLEGAL AND UNAUTHORISED PROPERTIES ARE NEITHER ILLITERATE NOR POOR NOR DEAF NOR DUMB, THEY ARE ELIGIBLE TO AVAIL HOME LOANS AT LOW INTEREST RATES AND THINK, THEY CAN MANIPULATE OR EXERCISE POLITICAL POWER AND EVEN INFLUENCE THE JUDICIARY, BUT ULTIMATELY FAIL AND WAIL.

THE PLATINUM CITY IS ALSO IN THE SAME SPOT.  DO NOT BUY PROPERTIES OF THIS TYPE, BECAUSE THE PROMOTER IS A CREDAI REGISTERED BUILDER OR TOP OR THE BEST BUILDER IN TOWN.  

ALL MOST ALL BUILDERS HAVE CASES OF ENCROACHMENT, VIOLATION AND DEVIATION, IT IS A PART AND PARCEL OF THEIR LIVES, THEY WANT TO LIVE WITH IT AND TRANSFER THEIR MISERY TO THE BUYERS AND ENJOY LIFE AT THE COST OF THE MISERABLE ONES WITH POSH OFFICES AND MERCEDES BENZ CARS AND FOREIGN JAUNTS. 

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.

THE RESULT OF THIS FAKE DOCUMENTATION IS : DEMOLITION & LITIGATION.

IT IS A WELL KNOWN FACT EVEN DURING 1960`S AND 1970`S, THAT NOBODY USE TO BUILD ANYTHING NEAR THE LAKES, UNDER ELECTRICITY LINES,NEAR RAJA KALUVE AND EVEN ON GOVERNMENT PROPERTIES.

THE SPROUTING OF DEVELOPERS AND BUILDERS, LAND MAFIA, TOUTS AND FRAUDSTERS PAVED THE WAY FOR ALL THE ILLEGALITIES.

IN 2012/13, DUE TO ABNORMAL DEMAND `B`KATHA CREATED, MOST OF THE PROPERTIES UNDER THIS CATEGORY HAS ITS OWN FLAWS, THE GOVERNMENT, EVOLVED A FOOLPROOF SYSTEM TO ISSUE `E` KATHA – ELECTRONIC MODE KATHA IN FORM NO.9 AND 11A AS PER THE DIRECTIVES OF HIGH COURT, THUS PUTTING AN END TO THE AGE OLD MANUAL KATHA.

EVEN, KATHA`S ARE NOT FOOLPROOF, AS IT IS ISSUED BY THE REVENUE AUTHORITY, BY SCRUTINISING THE DOCUMENTS SUBMITTED TO THEM AND IN SOME OF THE CASES, FAKE DOCUMENTS, BOGUS DOCUMENTS, FALSE STATEMENTS, CONTENTS TWISTED DOCUMENTS, FABRICATED DOCUMENTS ARE SUBMITTED, WHICH CANNOT BE OR COULD NOT BE VERIFIED NOT AUTHENTICATED AND KATHA IS ISSUED ON THE BASIS OF MISREPRESENTATION OF FACTS.

MANY BUYERS ARE UNDER THE CONCEPT AND IMPRESSION THAT A KATHA DELIVERS THEM GOOD AND MARKETABLE TITLES. IT IS NOT SO. IT HAS TO BE EXAMINED- HOW THE KATHA IS OBTAINED? WHAT ARE THE DOCUMENTS SUBMITTED? WHETHER APPROPRIATE AND APPLICABLE TAXES, CHARGES AND LEVIES ARE PAID OR NOT? WHETHER, ALL STATUTORY REQUIREMENTS ARE COMPLIED WITH IT OR NOT?

IN A CASE, AT BELLANDUR(CLOSE TO RING ROAD), IN A TOP END APARTMENT OF A FAMOUS BUILDER, THE RESIDENTS OR THE OWNERS(PRESENT), NOW, ARE PAYING BETTERMENT CHARGES TO GET THE KATHA OF THE PROPERTIES, AS SOME OF THE BANKS ARE DEMANDING THE KATHA AND SOME ARE IN THE PROCESS OF SALES.  THEY CANNOT WAIT FOR THE BUILDER TO PAY –  ARE IN A HURRTY – FORCED TO SHELL DOWN THEIR MONEY TO GET THE KATHA.

`A` KATHA, EC, BANK LOAN, BESCOM CONNECTION, BWSSB CONNECTION,PAYMENT OF TAXES AND TOP BUILDER`S NAME OR GOODWILL DOES NOT CONFER ANY RIGHT, TITLE AND INTEREST.

SOME OF OUR READERS WERE VERY ANGRY AND VENT OUT THEIR FEELINGS AND VIEWS STATING THAT THEY HAVE REGISTERED SALE DEED, THE TITLES WERE GOOD AND  LEGAL 15 YEARS BACK AND HOW IT IS NOT LEGAL TODAY. IT WAS NEVER LEGAL. EVEN THE SUB-REGISTRAR CANNOT REGISTER SUCH PROPERTIES, WHICH ARE IN REVENUE LANDS. IT IS CRYSTAL CLEAR THAT AGRICULTURE LAND CANNOT BE BIFURCATED AND SOLD AND IT IS ILLEGAL.  EVEN THE DC CONVERTED SITE DOES NOT CONFER ANY RIGHT, TITLE AND INTEREST WITHOUT PROPER APPROVALS FROM THE CONCERNED TOWN PLANNING AUTHORITY.  THE DC CONVERSION ORDERS ISSUED WAY BACK IN 1970`S AND 1980`S HAD CONDITIONS LAID IN ITS ORDERS THAT THE PROPERTIES WHICH ARE CONVERTED MUST OBTAIN CLEARANCE AND APPROVALS FROM THE APPROPRIATE AUTHORITIES AND ONLY AFTER OBTAINING SUCH CLEARANCE AND APPROVALS, THE MARKETABLE TITLES ARE CONFERRED.  THE MOST IMPORTANT CONDITION IN EVERY ORDER IS THAT IN THE EVENT OF “NON-COMPLIANCE” OF ANY OF THE CONDITIONS WILL RESULT IN THE AUTOMATIC CANCELLATION OF DC CONVERSION ORDER AND ACTION WILL BE INITIATED TO DEMOLISH ANY BUILDINGS OR STRUCTURES WHICH HAVE COME UP ON SUCH PROPERTIES AND THE EXPENDITURE INCURRED TOWARDS SUCH DEMOLITION WILL BE RECOVERED FROM THE OWNER AS REVENUE ARREARS.  THE USE OF SUCH LAND REVERT TO THE ORIGINAL USE, IN CASE OF NON-COMPLIANCE OF ANY OF THE CONDITIONS.  THE GOVERNMENT HAS THE POWERS TO DEMOLISH SUCH STRUCTURES WITHOUT INTIMATION.

BUT, THE BUYERS IN A BID TO ACQUIRE THE PROPERTY, HAS MISREPRESENTED THE FACTS BEFORE THE SUB-REGISTRAR AND GET THE DOCUMENTS REGISTERED.  IN THE SAME MANNER, THE KATHA IS ALSO OBTAINED.

NOW THE BUYERS ASK THE QUESTION? HOW DID SUB-REGISTRAR REGISTERED THE DOCUMENT? FACTS ARE TWISTED AND MISREPRESENTED AND THE BUYER/SELLER PAID XXXXX TO THE TOUT/AGENT TO GET THE SALE DEED REGISTERED AND AGAIN GETS THE KATHA IN THE SAME MANNER, GET THE POWER AND WATER CONNECTION AND PAY THE TAXES, FINALLY, WHEN IT IS DEMOLISHED, THE PROPERTY OWNER GRUMBLES AND CRIES.  

TITLES MUST BE CLEAR WITH MARKETABLE TITLES, ALONG WITH AUTHENTIC KATHA AND ALL STATUTORY APPROVALS, LICENSES, CC,OC AND POSSESSION.

IT IS SAD TO NOTE THAT MANY POOR PEOPLE LOST THEIR HOUSES IN THE RECENT DEMOLITION, WERE COMPLAINING THAT THEY HAVE `A` OR `B` KATHA, TAX PAID RECEIPTS, BESCOM CONNECTION, BWSSB CONNECTION AND REGISTERED SALE DEED. 

IT IS VERY SAD THAT THE HOUSES OF POOR ARE DEMOLISHED AND THE RICH GO SCOT FREE WITH LITIGATION FOR COUPLE OF YEARS AND THE NOTORIOUS BUILDER WHO STOLE THE GOVERNMENT LAND AND ROAD IS HAPPILY ROAMING AROUND AND SELLING HIS PROPERTIES.

THE COMMON STATEMENT MADE BY THE TOUTS, AGENTS AND THE BUILDERS IS THAT “THERE IS 90% DEVIATION EVERYWHERE, HAS THE GOVERNMENT GOT THE GUTS TO DEMOLISH? NO CHANCE” YOU CAN HAPPILY BUY AND IF SOMETHING GOES WRONG, WE WILL BE THERE- BUT THE TRUTH IS THAT YOU(THE BUYERS) WILL NOT BE THERE.

HENCE, CONDUCT DUE DILIGENT ENQUIRY AND EXAMINATION INTO ALL THE ASPECTS AND THEN PROCEED TO BUY. NO HURRY. IF YOU HURRY, WORRY WILL TAKE OVER.

HONESTY TOOK THE LIFE OF D.K.RAVI., I.A.S


HONEST IAS OFFICER D.K.RAVI IS NO MORE –  A PRESS RELEASE

IT IS BELIEVED THAT HE HAD RECOVERED THE LANDS OF THE GOVERNMENT IN KOLAR DISTRICT FROM A NOTORIOUS BUILDER AND HAD RAIDED THE TAX EVADERS AT (VAT TAX THIEVES) BANGALORE AND HE IS NO MORE.

DEATH IS THE REWARD FOR THE HARD WORK AND HONESTY!!!!!!!!!!!!!!!!!!!!!!!!!!

THOUSANDS OF CRORES HAD BEEN EVADED BY NOTORIOUS CRIMINAL (xxxxxxxx) AND HE HAD DETECTED IT, IT IS SUSPECTED THAT THESE XXXXXXX MIGHT HAVE DONE THIS JOB.

IS DEATH, THE REWARD FOR THE HONESTY?

ARREST ALL TAX EVADERS AND VIOLATORS.

BUYING AN APARTMENT – FREE GIFTS


A CRUEL JOKE ENACTED ON THE BUYERS OF THE APARTMENTS AT BANGALORE:

BULLET PROOF VESTS AND PISTOLS ARE OFFERED AS GIFTS FOR THE PURCHASE OF PROPERTIES/APARTMENTS AND ADDITIONAL BONUS FREE GIFT IS LIFE LONG LITIGATION.

TODAY`S NEWS REPORT IS THE CLEAR INDICATION THAT SOME BUILDERS ARE ENGAGED IN SUCH (ILLEGAL)ACTIVITIES AND ARE FIGHTING FOR GOVT LANDS/RAJA KALUVE!!!!! SOME OF THEM HAVE ENCROACHED THE GUTTER/SEWAGE DRAIN TOOOOOOOO  !!!!!!!!!!!!!!!!!!!!!