REVISED GUIDANCE VALUE – SOON!


THE GOVERNMENT IS KEEN ON REVISING THE GUIDANCE VALUE OF THE PROPERTIES IN AND AROUND BANGALORE AND MIGHT BRING IT TO THE MARKET VALUE/PRICE SOON. THE BUYERS WHO HAVE ALREADY BOOKED THE APARTMENTS/VILLAS/SITES IN PRELAUNCH OFFERS AND THOSE WHO MIGHT BE REGISTERING IT BY THE END OF JULY,2013  WILL HAVE TO BEAR  ADDITIONAL BURDEN OF … Continue reading REVISED GUIDANCE VALUE – SOON!

REAL ESTATE REGULATION – A REALITY


THE CABINET ON TUESDAY CLEARED THE MOST SOUGHT AFTER REAL ESTATE(REGULATION AND DEVELOPMENT) BILL 2013, SEEK TO SET UP THE REGULATOR IN EVERY STATE TO PROTECT THE INTERESTS OF THE BUYERS AND TO ENSURE FAIR PRACTICES IN THIS SECTOR.

RBI DIRECTION ON CHEQUE RETURN CHARGES – Levy Cheque return charges only if customer is at fault


RBI/2012-13/493 DPSS.CO.CHD.No. 2030/03.06.01/2012-2013 May 7, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs /Local Area Banks Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Delay in re-presentation of technical return cheques and levy of charges for such returns As … Continue reading RBI DIRECTION ON CHEQUE RETURN CHARGES – Levy Cheque return charges only if customer is at fault

TECH PARK NEAR HEBBAL


A SMALL TIME SILK CLOTH MERCHANT ON CHOWDESHWARI TEMPLE STREET, NEAR AVENUE ROAD, FROM AN UNKNOWN DESTINATION IN RAJASTHAN, CAME WITH 0000000000,CLAIMS TO BE AN EXPORTER,  BUILT A REAL ESTATE EMPIRE WITHOUT ANY EDUCATIONAL NOR TECHNICAL BACKGROUND, WORTH OVER RS1000 CRORES IN A VERY SHORT SPAN WITH THE HELP OF POLITICIAN AND BUREAUCRATS, ALLEGED TO … Continue reading TECH PARK NEAR HEBBAL

UNTOLD HORRORS OF XXX & XXXXXXXX (XXXXXX CONSTRUCTIONS) -THE BOMBER COMMAND !!!


THE GREATEST DEVELOPERS AND BUILDERS WILL NOT PROVIDE THE DOCUMENTS FOR BUYERS AS THEY CONTAIN ATOM BOMBS !!!!!!!!!!!!!! YES. IT IS TRUE. THEY HAVE BOMBED THE HOPES OF MANY DECENT AND HONEST BUYERS!!!!!!!!! THEY HIDE, CONCEAL AND IN A BID TO DECEIVE, DOCUMENTS ARE NOT SUBMITTED FOR LEGAL EXAMINATION AND VERIFICATION AND THE BUYERS MUST … Continue reading UNTOLD HORRORS OF XXX & XXXXXXXX (XXXXXX CONSTRUCTIONS) -THE BOMBER COMMAND !!!

WATER SCARCITY WILL BE TOO ACUTE THIS SUMMER


DUE TO A FAILED MONSOON, DEPLETION OF UNDERGROUND WATER TABLE AND POOR WATER STORAGE POSITION IN THE RESERVOIRS FEEDING BANGALORE; MARCH, APRIL AND MAY 2013 WILL BE A NIGHTMARE !!!! TG HALLI RESERVOIR STORAGE POSITION HAS ALREADY REACHED ITS LOWEST EBB IN YEARS  !!!! KRS WATER LEVEL MAY TOUCH THE DEAD STORAGE BY FEB, 2013, … Continue reading WATER SCARCITY WILL BE TOO ACUTE THIS SUMMER

REGISTRATION OF PROPERTY DOCUMENTS IN KARNATAKA IS PARALYSED


DUE TO THE STRIKE BY THE OUTSOURCED DATA ENTRY OPERATORS, THE REGISTRATION OF PROPERTIES HAVE BEEN TOTALLY PARALYZED IN THE STATE AND EXECUTION OF PROPERTY DOCUMENTS CONTINUED IN SNAIL PACE IN SOME OF THE SUB-REGISTRAR OFFICES.  SOME SUB-REGISTRAR OFFICES FUNCTIONED WITH VERY FEW STAFF AND THE DATA ENTRY OPERATORS WHO ARE THE MAIN OPERATORS WERE … Continue reading REGISTRATION OF PROPERTY DOCUMENTS IN KARNATAKA IS PARALYSED

Fake BBMP NOC for power connection- under investigation – A news report- BUYERS OF APARTMNET-BEWARE !!!! NO POWER CONNECTION


The BESCOM`s vigilance wing noticed a blatant contradiction in a BBMP ‘NOC’ and sought a clarification. The BBMP’s technical vigilance cell immediately spotted the forgery – the letterhead was fake and the signature did not tally with that of the engineer concerned  The Bescom`s vigilance wing which alerted the BBMP commissioner to the fraud and … Continue reading Fake BBMP NOC for power connection- under investigation – A news report- BUYERS OF APARTMNET-BEWARE !!!! NO POWER CONNECTION

DECLARATION CUM INDEMNITY BOND SIGNED BY THE HOME LOAN BORROWERS


HOME LOAN BORROWERS ARE UNAWARE OF THE FACTS THAT AT THE TIME OF AVAILING THE HOME LOAN EITHER FOR THE PURCHASE AND CONSTRUCTION OF THE HOUSE(COMPOSITE LOAN) OR FOR THE PURCHASE OF THE HOUSE OR APARTMENT, A DECLARATION CUM INDEMNITY BOND WILL BE SIGNED AS PER THE DIRECTIVES OF THE RESERVE BANK OF INDIA, WHICH … Continue reading DECLARATION CUM INDEMNITY BOND SIGNED BY THE HOME LOAN BORROWERS

BUILDER`S ANTICS & TACTICS AT BANGALORE


AS IT IS SAID, THE VIOLATIONS AND IRREGULARITIES ARE A WAY OF LIFE FOR CHEATS AND FRAUDS, EVEN THE GENTLEMEN `BUILDERS AND DEVELOPERS` ARE TAKING SHELTER UNDER THIS UMBRELLA.  WHEN ILLEGALITIES/VIOLATIONS AND NON COMPLIANCE TO THE PREVAILING LAWS ARE BROUGHT TO NOTICE OR INTIMATED WITH SUPPORTING DOCUMENTARY EVIDENCE, THE OWNERS/SELLERS/DEVELOPERS, CORNERED WITH THE TRUTH AND … Continue reading BUILDER`S ANTICS & TACTICS AT BANGALORE

IRREGULARITIES, VIOLATIONS, MISREPRESENTATON OF FACTS & CONCEALMENT OF FACTS BY TOP BUILDERS AT BANGALORE


IT IS NOTICED THAT IRREGULARITIES, VIOLATIONS, DEVIATIONS, MISREPRESENTATION OF FACTS, CONCEALMENT OF MATERIAL FACTS AND IRRELEVANT DOCUMENTS ARE SUBMITTED TO THE GOVERNMENT AUTHORITIES AND ALL THE BOARDS ETC TO OBTAIN THE LICENSES, APPROVALS, NOC AND CLEARANCES HAVE BECOME A PART AND PARCEL OF THE REAL ESTATE AND CONSTRUCTION BUSINESS.  OF LATE, EVEN, THE SO CALLED, … Continue reading IRREGULARITIES, VIOLATIONS, MISREPRESENTATON OF FACTS & CONCEALMENT OF FACTS BY TOP BUILDERS AT BANGALORE

FORFIETURE OF EARNEST MONEY DEPOSIT/SECURITY DEPOSIT/ADVANCE PAID FOR THE PURCHASE OF PROPERTY


Advance/ Security Deposit/Earnest money is paid or given at the time when the contract is entered into and, as a pledge for its due performance by the depositor to be forfeited in case of non-performance, by the depositor. It (Advance/earnest money deposit/security deposit)represents the guarantee that the contract (clauses in the sale agreement) would be … Continue reading FORFIETURE OF EARNEST MONEY DEPOSIT/SECURITY DEPOSIT/ADVANCE PAID FOR THE PURCHASE OF PROPERTY

ENCUMBRANCE CERTIFICATE ?


  WHAT IS ENCUMBRANCE CERTIFICATE? IT IS A SEARCH DOCUMENT. WHY  IS IT NEEDED? IT DISPLAYS THE CHARGES ON THE PROPERTY.  IT IS TO KNOW THE CREATION OF MORTGAGE OR A CHARGE OR AN AGREEMENT OF SALE ON THE SCHEDULE PROPERTY. WHICH GOVERNMENT OFFICE ISSUES THE ENCUMBRANCE CERTIFICATE? JURISDICTIONAL SUB-REGISTRAR OFFICES. HOW TO GET IT? … Continue reading ENCUMBRANCE CERTIFICATE ?

HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012


Date: Jul 02, 2012 Master Circular – Housing Finance RBI/ 2012-13/73 DBOD. No.DIR.BC.07/08.12.001/2012-13 July 2, 2012 Ashadha 11, 1934, (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Master Circular – Housing Finance Please refer to the Master Circular DBOD No. Dir. BC. 03 /08.12.001/2011-12 dated July 1, 2011 consolidating the instructions / guidelines issued … Continue reading HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012

BMRDA/BIAPPA/APA/HPA/NPA- APPROVALS DOES NOT MEAN THAT TITLES ARE CLEAR


BMRDA/BDA AND DC CONVERSION ORDERS OR LAYOUT APPROVALS DOES NOT CONFER ANY RIGHT, TITLE AND INTEREST AND EVEN THAT KATHAS ISSUED BY THE BBMP. BMRDA/BDA/BBMP/DC APPROVALS ARE CRYSTAL CLEAR IN THEIR ORDERS THAT THE AUTHORITIES ARE NOT LIABLE NOR RESPONSIBLE FOR ANY KIND OF LITIGATION.  THE APPROVALS ARE GIVEN ON TECHNICAL BASIS ONLY.  ALL APPROVALS … Continue reading BMRDA/BIAPPA/APA/HPA/NPA- APPROVALS DOES NOT MEAN THAT TITLES ARE CLEAR

Service tax on construction services-A clarification from the department


Circular No. 151/2/2012-ST F.No.332/13 /2011-TRU New Delhi, 10th February, 2012 Subject: Service tax on construction services — regarding. Many issues have been referred by the field formations, in the recent past, seeking clarification regarding the levy and collection of service tax on construction services [clauses (zzq),(zzzh) of section 65(105) of the Finance Act, 1994], in the light … Continue reading Service tax on construction services-A clarification from the department

B-KATHA – HOME LOANS


IT HAS COME TO OUR NOTICE THAT SOME BANKS ARE OFFERING HOME LOANS ON `B` KATHAS.   PLEASE DO NOT SEEK THE DETAILS OF THE BANKS, WHICH ARE OFFERING IT,FROM US. THE SANCTION/OFFER OF LOAN WILL NOT CONFER ANY RIGHT, TITLE AND INTEREST AND THE BUYERS ARE ADVISED TO BE VERY CAUTIOUS BEFORE THE PURCHASE. … Continue reading B-KATHA – HOME LOANS

HOME LOANS AND GOVT PROPERTY -LAND GRABBING AND ENCROACHMENTS – BORROWERS ARE IN DOCK !


IT IS SAID THAT THE PROPERTIES IN THE VICINITY OF TANK BEDS,GOMALA LANDS, KAALU DHARI, BANDI DHARI,GUNDU THOPU, CA SITES IN BANGALORE EAST, NORTH, NORTH ADDITIONAL, ANEKAL AND SOUTH TALUKS, WHICH BELONGS TO GOVERNMENT SOLD ON FAKE/FABRICATED/GRANT CERTIFICATES/CERTIFIED COPIES OF BOGUS DOCUMENTS TO BUILDERS AND LAND MAFIA HAVE CONSTRUCTED MANY APARTMENTS AND THE BANKS HAVE … Continue reading HOME LOANS AND GOVT PROPERTY -LAND GRABBING AND ENCROACHMENTS – BORROWERS ARE IN DOCK !

Pre closure/foreclosure charges for home loans – Government Directions –


Government, in May 2010, advised Public Sector Banks, Indian Banks’ Association and National Housing Bank that no pre-payment charges may be levied by the lending institutions when the loan amount is paid by the borrowers out of their own funds; and if any pre-payment charges are to be imposed on housing loans, the same need … Continue reading Pre closure/foreclosure charges for home loans – Government Directions –