Wednesday, July 31, 2013

Frank talk on Transfer of Development Rights and Development Rights Certificate by real estate reporter

Transfer of Development Rights and Development Rights Certificate 

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         Bangalore Mahanagara Palike has identified 45 roads for widening. The list includes some very old and narrow roads like Avenue Road. The proposal requires large scale acquisition of land. The civic body, it is learnt to have issued notices to the property owners inviting them to opt for Transfer of Development Rights (TDR). Under this/scheme if the land owners voluntarily surrenders the land to the Bangalore Mahanagara PaIike , they will get Development Rights Certificate (DRC), which entitles them to enhanced FAR, one and half times of the land surrendered. This enhanced FAR may be used by the owner in any of their properties

         FAR has its own value, meaning and purpose. Restricting and prescribing FAR in relation to the area of the site is to regulate proper growth, and to ensure availability of natural air and light not only to the owner of the site, but also to neighbours. Allowing the utilization of enhanced FAR in any of properties of the owner would lead to irregular growth of the city, spoiling the beauty and skyline and also infringing the rights for air and light of the neighbour. This may even spoil the neighbourhood relations and lead to litigation. 

         Further, Development Rights Certificates are tradable Anyone who has violated the FAR may purchase DRC and regularize his construction. This is unethical and amounts to marketing the honesty. Anyone who has violated the law may become honest person, provided he has money, money becomes more powerful than law. 

         Instead of TDR, DRC the Mahanagara Palike may as well acquire the land and compensate the owner Some of the identified roads, such as Avenue Road, are almost heritage roads, which are centuries old and needs to be preserved.

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Tuesday, July 30, 2013

RPR frank talk on Foreign Direct Investment

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The Union Government has allowed cent percent foreign direct investment in construction sector. The Cabinet Committee on Economic Affairs has taken a decision in this regard. The investment is allowed
under automatic route in townships, housing, built-up infrastructure and construction! development projects.

The minimum area to be developed is 10 hectares for housing and 50,000 sq. mtrs in case
of construction development projects. However foreign investors are not allowed to sell undeveloped land. This would avoid speculation in real estate. Repatriation of original investment will not be allowed for three years. The move would help manufacturing sector like cement. steel, brick making etc.

It is note worthy, that the investor has to obtain completion certificate from local authority, as the project has to confirm to the state!local laws. This would bring more foreign direct investment apart from improving the quality of construction. The local players will be exposed to international standards.

However, this may increase the land prices around urban centres, accelerate urbanisation and disappearance of agricultural lands. The housing may become costly and not affordable by low income group.

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Monday, July 29, 2013

Bangalore Real Estate reporters frank talk on Issues

Incapable BMP

The traffic of Bangalore is notorious. This is because of increased number of vehicles, about 
two million in urban agglomeration, concentration of workplaces at a common centre, bad condition of roads and uncertain city transport. 

Bangalore mahanagara palike (BMP) has the responsibility of maintaining the roads. But it has utterly failed in its duty. The resurfacing of roads is a recurring work, which has to be done at periodical intervals. But sub-standard work, poor quality of materials used, have made repairs /resurfacing to be done too frequently eating into the already poor finance of BMP. Corruption, the collusion of officials of BMP with contractors is too well-known and not a secret. Many roads are resurfaced only in books of BMP and bills are paid, though actually no work is done. Will BMP come out with dates of last repair / resurfacing of roads as per its records so that public will respond about real position. 

Lokayukta in his recent inspection of on-going works has exposed the inferior quality of materials used and execution of works. BMP has to plan the works so that works executed are of accepted standard and make the supervising overseeing officers responsible for any lapse. Bills have to be paid only after certification by an expert from outside the BMP. Certain percentage of bills has to be retained towards defect liability which has to be released only after lapse of certain time. Black listing of erring contractors should be impartial. 

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Saturday, July 27, 2013

Real estate Reporters frank talk on Tsunami

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       What a tragic end to the year 2004. The devastating tsunami tidal waves have destroyed the south east coastal line of India, apart from other south east coastal countries like Indonesia, Thailand. Tamilnadu, Andhra Pradesh and Kerala have borne the brunt of deluge. Tsunami waves move at a speed of 400-500 miles per hour. 

         The estimated death toll is increasing day by day, but the actual numbers may more than what is reported. Number of people untraced. deaths not reported are many more. 

         Apart deaths, many have lost their homes, savings, many have become orphans, destitute. 

         The Country, which boasts of many scientific achievements, launching of satellites has no system of pre-warning of tsunami waves. Though Tsunami warning system is available, our country did not install the system reportedly for want of funds, which could have saved thousands of lives, assets worth crores of rupees, and many crores to be spent on rehabilitation. At least it is the time to go for such system in collaboration with other countries like Sri Lanka, Bangladesh, Pakistan, Thailand, and Indonesia. Coastal regulation/rules have to be revised. 

         We the countrymen have a duty to respond to the call, contribute generously to approved rehabilitation funds, participate in relief programmes. We shall celebrate the New Year in low key avoid pomp and show and even consider spending a minute in silence praying for the brothers and sisters who lost in the tragedy and those survivors left behind.

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Friday, July 26, 2013

Real Estate reporters Bangalore Frank talk on Issues

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         Bangalore is expanding at unimaginable pace. Villages and Towns at the outskirts are being sucked into this development. Agricultural lands are converted to residential, commercial, industrial purpose, where monotonous concrete jungles spring up. Bangalore Development Authority is acquiring the lands in large scale for formation of residential layouts. 

         Though many multi storied buildings are coming up, the growth of the city is horizontal preying into countryside. Apart from displacement and migration of agriculturists, agricultural labourers, artisans, this type of growth result in low density and fuels urban sprawl leading to further problems like inadequate infrastructure, transportation. 

         Bangalore is evidencing this phenomenon, Land cost is also increasing, The infrastructure is cracking. The cost of providing infrastructure like water supply, drainage, roads, to single independent houses is more, increasing the cost of sites, houses, Instead of this horizontal growth, the Bangalore Development Authority may adopt high density - low - rise buildings, where many residential houses are constructed in two or three storeys, optimizing 'the utilization of land. Each residential unit may be allotted to applicants, who own the units with undivided share in the land

         This will arrest the uncontrolled growth of the, city. avoids too much burden on infrastructure, transportation. Importantly, saves agricultural land, agriculturists and those who depend on it. The land cost remains affordable

Thursday, July 25, 2013

Bangalore real estate reporters frank talk

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             The recent budget of state government had evoked much protest from information technology sector and the chieftains of the government bent over their backs to appease the ruffled feelings of IT czars.

             Though the citizens of City, who pay all sort of taxes to the Governments, Municipal Corporations vented their anguish over the bad conditions of roads, potholes, wild traffic, faulty drainage, the responsibility was squarely transferred to unabated rains.

             The common man find it difficult to meet any authority in any of the offices, whereas highly placed officials rush to the offices of IT bigwigs to discuss their grievances, that too at their convince.

             The proposed elevated road connecting the Bangalore to Electronics City is an aberration, malignant development, ignoring the entire populace of this City.

             Common Bangaloreans remember that development works worth Rs.100 Crores were identified during December 2003 with grass root level meetings in 10 wards. This laborious exercise consumed six months, but the proposals have been thrown to the dustbins. But elevated road gets approved in no time. This has sent strong negative message to the citizens, the government, local bodies are there only for the convenience of mighty, moneyed, opinion 'leaders, and not for honest citizens who have only duties to pay the taxes, but do not have rights.

             The City needs uniform development and not isolated partisan developments. Elevated road is not priority, but the rulers lack clear policy on priorities. Proper roads, good side walks, supply of potable water, sanitation facilities are of immediate priorities.

             Who is concerned about the common man, who has momentary importance once in five years.

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Wednesday, July 24, 2013

Exclusive Bangalore properties on ...

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         Bangaloreans who were at the mercy of private builders, had happy times, when Bangalore development Authority, became super active, formed layouts and allotted sites In Anjanapura and Vishweswaraiah layouts. 

         The much publicised Arkavathy layout attracted overwhelming response, many borrowed from banks and applied for sites. Banks while advancing collected interest upto certain period, with a hope that allotment procedure would be completed early, and refunds received from BDA would liquidate the loans of those who did not get sites. The process is shelved and the applicants have to bear the additional interest burden. This has doused the enthusiasm of many banks who have lent to the applicants. The BDA has notified (preliminary) the acquisition of lands for hi-tech city long back.But the final notification is not yet issued. Because of this, the private developers cannot form private layouts . 

         The Authority is almost inactive. It is not only formation of layouts and allotment of sites. Even the layout formed by private developers are pending for approvals, and only eight private layouts are approved in the last three years. Private builders who have invested crores of Rupees in purchasing the land and developing it have to wait for years to get approvals from BDA. which they can hardly afford. This has led to many unauthorised layouts. Since neither BDA is forming the layouts nor approving private layouts, the supply is too limited. This has increased the land cost abnormally. The ultimate sufferer is common man. If the BDA cannot meet the demand, it should encourage private parties, by according approvals in a some stipulated time. 

         May be BDA is burdened too much with its multifarious activities for which no infrastructure is available. Delay in completion of flyovers, grade separators points in this direction. Many of the flyovers costing crores of Rupees to exchequer are not properly located. The flyover at Dairy Circle has not eased the traffic and stranded traffic on flyover is very common. Many traffic experts opine that flyovers just shift the traffic congestion but do not solve. 

         It is advisable for BDA to concentrate only on formation and approval of layouts. 
Editor-Selva kumar

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Tuesday, July 23, 2013 real estate reporter frank talk

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              We have had hung assembly. Now we have a hung government, a hastily cobbled coalition, which has more to cuddle power than governance. 

              Nothing has moved since the announcement of elections. There was caretaker government for weeks after elections, then a cabinet of just Chief and Deputy Chief Ministers more engrossed in distributing, sharing important portfolios. At last a semblance of cabinet came into existence through many portfolios yet to be allotted. The Chief Minister, who is addled with many portfolios, had his table piled up with voluminous letters of former Prime Minister and Chief Minister, accusing each other. The government is deeply concerned in mollifying the powers behind than governing the state. 

              The CET chaos, the BDA blunder, Uma Bharathi muddle; the government is racing towards cul-de-sac. I I 

              The much-publicised flyovers which are unfinished have become money guzzlers and traffic nuisance. Arkavathy Layout, a dream of many home aspirants has been shelved. With no clear cut instructions on Betterment tax, the City Municipal Councils surrounding the city have become powerless, leading to unauthorised constructions, layouts. Virtually, there is no development in any area, many projects started by the previous regime, remain unfinished, Nobody finds government or governance in the state. 

              The middlemen, commission agents are having a field day. The coalition seems to be a mix of oil and water. Common man is left in a lurch. 

              The partners in coalition should realize their responsibility to the people, coalesce, and give at-least an average governance, or allow the people to have another say.

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Monday, July 22, 2013 real estate reporters frank talk

              We have Karnataka State budgetary proposals before us. The budget is termed as pro-farmer and moving to the villages. The previous budgets presented by then Chief Minister and Finance Minister SrI. S.M.Krishna were christened as pro-IT and Bangalore centric. Rightly. 

              The budgets in our country have become political tools. targeted more at vote banks. appeasing some particular group and retaining power than economic documents

              With the change of the guard, the nature of budget also undergoes a change, that is why we have undeveloped, underdeveloped, over developed sectors, haphazard growth. 

              What country needs is neither village or city centric budget, but a growth centric budget with certain targets. It is not that. cities or villages alone are responsible for growth of an economy. 

              Both urban and rural sectors contribute equally to the growth of the economy and any budget should concentrate on planned growth of all sections/sectors. It should be free from politics, and successive budgets should have common thrust on certain identified goals. No doubt it cannot be purely a document of economics. The state has some social responsibilities too, which should find a place in budget. 

              The budget have to find a permanent solution for such social responsibilities and any subsidies have to be gradually reduced. Further, they are often reduced to taxing exercises akin to rob the Peter to pay Paul. What is not taxed in the union budget is taxed in State budget. At times, taxes are aimed at groups, sectors which support the political opponents of the ruling party. Heavy taxation of any commodities, sectors, beyond reasonable limit leads to evasion of tax, undervaluation of assets, corruption, which affects the fiscal targets. So, the budgets do not have any common goals and miss sustained thrust. 

              The political parties should place the growth of the economy, development of the country above the vote bank and prepare budgets for overall development of all sectors in a planned measure.

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Saturday, July 20, 2013 real estate reoperters frank talk...

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              Work of Bangalore Mahanagara Palike has been exposed again. The Lokayukta has whipped the somnolent BMP officials into hurried action. Having assured the Lokayukta that they would keep the City clean, garbage free, by 18th June, the BMP was shells hocked to see the Lokayukta on his rounds on 19th June, pointing to piled up dirt, uneven, unkempt side walks, unhygienic eating places. Health Department has to face the full fury of the Lokayukta, who recommended suspensions of some officials and cancellation of license of hotel

              The pity is that the well paid BMP officials require prodigal from such high authority as Lokayukta to do their menial jobs, which only elucidates, degenerated work culture; deep rooted Corruption. One often feels that the Lokayukta alone be in charge of entire state to root out corruption, and enforce discipline. 

              The city is well known and most preferred destination of multinational companies, and global conferences. The BMP often does some cosmetic work to showcase during guided tours of city. But they are of temporary nature. The sight at Central Bus Station, Railway Station is that of shame. Stray cattle, dogs, walk freely with gay abandon. The overflowing dustbins, uncovered manholes, uncontrolled hawking on footpaths, mosquito menace, the list is unending. The reported cases of fallacious malaria, the worst of its kind is matter of concern. 

              Will at least now the insolent inactive, inefficient corrupt creed BMP officials wake up and make the City clean and hygienic. They cannot expect Lokayukta to keep vigil on them. They owe a duty to the tax paying citizens.

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Friday, July 19, 2013

Leading Property advocates frank talk on Issues..

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            Fractured Verdict; All the political parties who were dreaming of occupying the pivotal chair at Vidhana Soudha are dumbfounded. The unseen voter has proved how powerful he Is, 'A coalition government of any two major fronts Is the only possibility but it should be coalescent. 

            Whatever may be the form, nature of the government, it should not lock the land by legislating too many restrictions on property transactions. This would only increase the land price, and hoarding of the land with the middlemen playing havoc, leading to artificial price spiral, a repetition of post 1996 scenario. The incoming government should realise the importance of real estate sector, mother of all sectors, on which many major small cottage industries are dependant. 

            The government must further liberalize the land transactions.The conversion of agriculture lands to residential, commercial or industrial purposes requires more relief to avoid construction, layout formation in revenue lands. But building byelaws and FAR should be strictly enforced to ensure planned development. 

            Stamp Duty on property transactions is very high in Karnataka, because of which many transactions are under valued and not registered. Though the uniform stamp duty in the entire country is a distant dream, the incoming government may lower the stamp duty to a reasonable level and should not increase the guidance market value of the property

            The proposed Capital based Property Tax has not found favour with public, with too many aberrations, abnormal increase of tax of residential properties. The property tax should not be a burden to property owners. The incoming government shall review the Capital based property tax and advise the local bodies to continue the present self assessment scheme for some more years. 

            The present green belt area needs revisit. With the rapid and explosive expansion of the city, the green belt area has lost its relevance, more often helping the corrupt officials. lnsteod of having a green belt area around the city, sufficient lung spaces may be developed all over.

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Thursday, July 18, 2013

Bangalore 5 property webportal Recommended Builders Recommended Builders with websites

  1. 2A Construction
  2. Aashrithaa properties pvt ltd
  4. Adhaar Properties
  5. Ahad Builders
  6. Aisswary Builders or Aisshwarya Group
  7. Akme Projects ltd
  8. Alpine Housing Development Corporation
  9. AMIGO Shelters
  10. Anugraha builders &developers
  11. Apna sapna
  12. Arattukulam Developers
  13. Artha Property
  14. Ascent builders pvt ltd
  15. Ashed Properties and Investments
  16. Asset builders
  17. Aswani Properties
  18. ATZ Properties
  20. Axis concept construction
  21. Azven Realty
  22. Bearys properties & development pvt.Ltd
  23. Bhagyashree Developers
  24. Bhairavi Properties
  25. Bharath High tech builders
  26. Bindu promoters and developers
  27. Blue Valley
  28. Bren Corporation
  29. Brigade Goup
  30. canopy estates pvt. ltd
  31. canopy estates pvt. ltd
  32. Capita Land Realty:
  33. Casa Grande Private Limited
  34. Celebrity HousingProjects
  35. Century Real Estate :
  36. Chartered Housing P ltd:
  37. citilights estates pvt. ltd:
  38. CMRS Group :
  39. Comfort Shelters Pvt Ltd:
  40. Concorde Group:
  41. Confident Group:
  42. Crescent Constuctions:
  43. Damden properties:
  44. Deccan Group:
  45. Definer Group:
  46. Dhammanagi Developers Private Limited:
  47. Divya Properties:
  48. Donata Developers:
  49. DRA:
  50. Dreamz GK Infra:
  51. DS-Max Properties ltd:
  52. DSR Infrastructure:
  53. Duo Associates:
  54. EAPL Group:
  55. Embassy Group:
  56. Esteem group:
  57. ETA Star Property Developers Ltd:
  58. Eternity Structures:
  59. Evergreen Properties & Investments:
  60. Exotica housing and infrastructure:
  61. Ezzy Group:
  62. Fire luxur developers pvt. ltd:
  63. First Homes:
  64. Flora n flora :
  65. Fortuna Constructions :
  67. Geown Properties :
  68. GG Properties:
  69. Gina Engineering Company Pvt Ltd:
  70. GNR Group:
  71. Godrej Properties:
  72. Goel Ganga Group:
  73. Gopalan Enterprises:
  74. GR Constructions:
  75. H M Constructions:
  76. Hinduja Group:     
  77. House of Hiranandani:
  78. Hoysala Projects:
  80. i1 Properties:
  81. Imperium Constructions:
  82. Indiya Estate pvt ltd:
  83. Indraprastha Shelters Pvt
  84. Jain hights:
  85. Jain Housing:
  86. Jana Jeeva Estates:
  87. Janaadhar India Pvt Ltd:
  88. JR Housing Developers:
  89. Karle infra Project:
  90. Keerthi Constructions:
  91. Keerthi Estates:
  93. Klassik Enterprises:
  94. KMF Builders & developers:
  95. KNS Infrastrecture:
  96. Krishna Enterprises:          
  97. Kumar Properties:
  98. Laa Developers:
  99. Legacy Groups:
  100. Legend Property:
  101. LGCPL(Lalith Gangadhar Constructions Pvt Ltd):                         LGCL two projects
  102. M.S Groups:
  103. maangalya Developers:
  104. Mahaghar Properties pvt ltd:
  105. Mahaveer groups:
  106. Mak Infrareality:
  107. Mana Projects:
  108. Manar Developers:
  109. MANASA INFRA Promoters:
  110. MANTRI:
  111. Manyata Developers: under const
  112. Max Warth Reality:
  113. Millennia Realtors or Group :
  115. MJR Infrastructure Pvt Ltd:
  116. Mountain Groups:
  117. Myhna Properties:
  118. mythreyi Develoers:
  119. Nambiar Builders:
  120. Nandi Builders & Developers :
  121. Nandi Housing:
  122. Narayan Enterprises:
  123. Narayana enterprises:
  124. NBR Developers:
  125. NCC Urban Infrastructures:
  126. ND Developers:
  127. Neeladri Properties:
  128. Niranjan Develoeprs:
  129. Niranjan Group:        
  130. Nirman Sonestaa Developers:
  131. Nishaant Properties:
  132. Nishitas Properties:
  133. Nitesh Estates:
  134. North East Properties:
  135. NSR Developers:
  136. Oceanus Group:
  137. Ozone Groups:
  138. Paras Group:
  139. Pashmina Builders & devalopers:
  140. Plama Developers:
  141. Platinum Projects:
  142. Prabhavathi builders:
  143. Prestige Group:
  144. prisha properties:
  145. Prodevmco Transcity Developers:
  146. Provident Housing Ltd:
  147. Pruthvi Builders & Developers:
  148. PSR Group of companies :
  149. PSR GROUP:        
  150. Puravankara Projects:
  151. Pushpam Group:
  152. Pyramid Developers:
  153. QVC Realty:
  154. Radiant Group:
  155. Raja Housing Ltd:
  156. Raja Housing pvt ltd:
  157. Ranka Group:
  158. RBD Developers or Shelters :
  159. Reddy structures or mahaveer group
  160. Reliaable Developers:
  161. Richmond Builders:
  162. RNS Infrastructure:
  163. Rohan Builders ltd:
  164. Sai Associates :
  165. Sai Krishna Constructions Pvt Ltd:
  166. Sai Leela Developers:
  167. sai Paryavaran Constructions:
  168. Sai Sanndhi Estates:
  169. Saiven Developers Pvt Ltd:
  170. Saket Engineers pvt ltd:
  171. Sakshi Developers  :
  172. Salarpuria Group:
  173. Samruddhi Group:
  174. santosh enterprises:
  175. Sapthagiri Developers:
  176. Sattva Group:
  177. Scion Builders:
  178. SGR Buildtech:
  179. Shanders:
  180. Shravanthi Shelters:
  181. Shriram properties:
  182. shyamaraju and company or Divyasree developers :
  183. Siroya Constructions:
  184. SJR Group:
  185. Skyline Builders :
  186. SLS Developers:
  187. SLV Projects Pvt Ltd:
  188. Sobha Developers:
  189. Sooraj Constructions:
  190. Sovereign Developers:                
  191. Sowparnika Projects P Ltd:
  192. Space and Place infra:
  193. Sree Reddy Properties Pvt Ltd:
  194. Sree Vandana Infra Build pvt ltd:
  195. Sri Gayathri Projects:
  196. Sri Sai Laksmi Contractors & Builders Pvt. Ltd:
  197. Srinivasa Developers:
  198. SRR Homes:
  199. SSPDL:
  200. Star Gold Builders:
  201. Sterling Developers:
  202. Sukritha Buildmann:
  203. Sumadhura Infracon:
  204. Suraj Group:
  205. Surbacon Development pvt ltd:
  206. SVS Constructions:
  207. SVS Infrastructures:
  208. Tekton Estates pvt ltd:
  209. Terracon Projects Pvt Ltd:
  210. The Advantage Raheja:
  211. The Monarch Properties:
  212. total environment building systems:
  213. Triangle group:
  214. Trinetra Constructions:
  215. Trishul Developers:
  216. UKN Properties:
  217. umiya holding pvt ltd:
  218. Unishire Projects:
  219. Upkar Developers:             
  220. Vaastu Structures:
  221. Vaishnavi Constructions:
  222. Vaishnavi Group:
  223. Valmark Builders:
  224. Value Design Build pvt ltd:
  225. Value Realty & Projects:
  226. vaswani estates developers:
  227. Venus Homes:
  228. veracious builders & developers pvt. ltd:
  229. Vertex Infras Builders and Developers:
  230. Vijaya Enterprises :
  231. Vikram Trinetra Group:
  232. Vinayaka Builders & Developers:
  233. Vishal promoters & builders:
  234. Vishnupriya Group:
  235. Vishwas Bawa Builders :
  236. VKC Developers:
  237. Vmaks Builders Private Limited:
  238. Vrindavan Shelters pvt Ltd:
  239. VRR Builders:
  240. White Stone Builders:
  241. Windsor Developers:
  242. Zeffares Sterling estate:
  243. Ziva Ventures: