Thursday, October 31, 2013

Bangalore Developmental Activies by BBMP


The Karnataka Government vide Gazette Notification dated 2.11.2006, has brought under the jurisdiction of Bangalore Mahanagara Palike seven City Municipal Councils, one Town Municipal Council and 111 villages surrounding Bangalore City Corporation area to improve and co-ordinate infrastructure development for road and transportation net work, water supply and underground drainage, solid waste management, upgrade quality of urban civic services and for better co-ordination in service delivery system. After inclusion of these areas, the Bangalore Mahanagara Palike has been declared as Bruhat Bangalore Mahanagara Palike. The jurisdictional area and the responsibility of Bruhat Bangalore Mahanagara Palike has gone up considerably on account of this inclusion. So also the revenue to BBMP. The Bruhat Bangalore Mahanagara Palike is successful in collecting several crores as property tax for the year 2008-09 under self-assessment scheme. 

Though the Bruhat Bangalore Mahanagara Palike has come into existence w.e.f. 2.11.2006, the progress of developmental works in the newly added areas are not very satisfactory. Most of these areas continue to maintain their old status quo as far as civic amenities are concerned. No visible changes are forthcoming in these newly added areas despite 212 years have elapsed. 

Since now the BBMP has a large chunk of money at its disposal, it may speedily undertake developmental activities such as providing good motorable roads, construction of commercial complexes, opening up of new hospitals for the poor, uninterrupted cauvery water supply, good sanitary systems etc. in the newly added CMC, TMC and village panchayat areas without sacrificing the developmental works of the areas falling within the jurisdiction of old Bangalore Mahanagara Palike failing which the purpose of formation of Bruhat Bangalore Mahanagara Palike would be of no avail to the public. 

Advocate Selvakumar

Wednesday, October 30, 2013

RER franktalk on Stamp Act in Karnataka


Rcently, the Government of Karnataka has amended the Kamataka Stamp Act, 1957 imposing stamp duty on agreements to sell at 0.25 [point two five] per cent which is very abnormal and not matching with the stamp duty levied in other neighbouring States. The revised rates are effective from lst April, 2009. 

Advocate Selvakumar

Article 5(e)(ii) under Schedule to Amendment Act, 2009 is relevant here and it deals with the agreements or memorandum of agreements relating to sale of immovable property wherein possession of the property is not delivered and according to which the stamp duty payable would be 0.25 [point two five] rupees for every one hundred rupees or part thereof on the market value equal to the amount of consideration. Thus, for an agreement to sell of the value of the property of Rs.50,00,000/-., the stamp duty payable would be Rs.12,500/- whereas before this amendment the optimum stamp duty payable was only Rs.200/-. In the neighbouring State of Tamil Nadu, the stamp duty payable on agreement to sell is only RS.IO/- irrespective of the amountofsale consideration. 

Selvakumar Advocate

Advocate Selvakumar Bangalore

Advocatessk Bangalore

On the basis of the agreement to sell, normally the purchasers of immovable property would approach the barucs for housing loan. Banks do insist on payment of stamp duty at the prevailing rates for considering the loan application since under-stamped agreements to sell are not enforceable in a court of law. Therefore, the home loan borrowers are compelled to first spend money on stamp duty on agreement to sell, and then approach banks for housing loans. If the deal with the vendor fizzles out, the amount spent by the purchaser towards payment of stamp duty for agreement to sell would go waste since there is no provision for getting refund of stamp duty paid in such circumstances. However, for obvious reasons, some of the property developers are still paying stamp duty for agreements to sell only at Rs.200/- which is not correct. 

Selvakumar Advocate Bangalore

Property Advocate Selvakumar Advocate Bangalore

Advocates in Bangalore

In view of its abnormality, prevailing global economic recession and the weakened purchasing capacity of the borrowers, the Government of Kamataka may look into the matter afresh and revert back to the old slab system of payment of stamp duty with optimum duty of Rs.200/- for agreements to sell where possession of the property is not delivered to fall in line with other southern States. 

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RER frank talk on guidelines value of bangalore 5 localities

The global economic recession has affected the purchasing power of a large number of people and thereby the real estate industry throughout the country, including Bangalore, is facing unprecedented sufferings. At this juncture, the decision of the Government of Karnataka in its budget for 2009-10 to reduce the stamp duty on registration of immovable properties is welcome

By reducing the stamp duty on registration of properties, the Government of Karnataka has attempted to give new lease of life to the real estate industry, when we cumulatively consider the effect of the discount offered by the developers in the value of apartments by 15 to 20 per cent with other lucrative incentives coupled with the reduction in the interest rates by the banks on home loans. 

But, the property buyers would have got the real gift from the Government of Karnataka had it brought down the guidel ines value of properties keeping in mind the present market trend. The guidelines values now in force were fixed when the real estate market and the property values were at their peak. Thus the Government may constitute a committee of experts to look into this aspect and recommend the fair guidelines value to be fixed for properties III different localities of Bangalore and its suburbs.

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Friday, October 25, 2013

RER frank talk on Bangalore 5 regions Infrastructure


City of Bangalore has been growing by leaps and bounds so also the demand for civic amenities by the residents. The demand of the residents for civic amenities are not met successfully in spite of best efforts by the concerned municipal and planning authorities making the problem gigantic. No emphasis is needed to explain the problems faced by the residents of Bangalore - whether be it in traffic management or power supply or water supply or public transport or medical care or housing for poor, we can hear lot of grievances from the people and the Government's failure to redress them.

Then what is the solution? 
Solutions may be many. But, in my view, development of full fledged townships in and around Bangalore could be a solution to ease out the pressure on the already over populated city of Bangalore.As a first step in this direction, the Government should speedily develop road and rail infrastructure from city centres to the satellite townships and provide cheap, efficient and quick transport facilities to these areas so thatthe people could settle down there easing out pressure on the central areas.

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Government may take cue that people residing in Tumkur but employed in Bangalore do make daily trips from Tumkur to Bangalore and vice versa. This is possible because of good transport facilities available in this sector.Good motorable roads and comfortable road and rail transport systems coupled with other infrastructural facilities for development of schools and colleges, hospitals, play grounds, parks, creches, market centres, entertainment halls, small and medium industries and commercial establishments would motivate people to settle down in the satellite townships. This in turn would ease out thepressure on the available infrastructural facilities in Bangalore, which is found to be far from sufficiency.

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Thursday, October 24, 2013



It is no secret that not only the value of immovable properties have come down considerably for the last several months, but there are no buyers of properties even at the lowered figure. The number of transactions in Sub-Registrars offices throughout the country can be said to be almost negligible. 

This situation is likely to continue for few more months or for one or two years and till the global economic situation stabilizes and the employment opportunities improve.

Though the market value of properties are down by 30 to 40 per cent and the property developers are ready to sell their properties at the reduced prices, the State Governments are still in no mood to reduce the guidelines value of properties fixed by them when the property market was at boom and are turning a blind eye to the ground realities with the result that the  purchasers of immovable properties have to pay stamp duty and registration charges at a higher value as fixed under guidelines value than payable at the prevailing fair market value. This attitude of the State Governments is highly deplorable and can be termed as a crime on the society and the people. 

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At least now when the market value of immovable  properties have come down considerably and the purchasing power of a large number of people is reduced beyond imagination, while the banks have reduced their interest rates on 
housing loans under instructions of Reserve Bank of India, it would nothing but be fair and proper for the State Governments to initiate action without further delay to reduce the guidelines value to fall in line with the market value of properties, In Karnataka, the revised guidelines value of properties as per the revised rates effective from 19.4.2007 is definitely on the higher side. 

It is not the prerogative of the Government to continue maintain the guidelines value fixed by it when the property prices were at their peak even when there is slump in the real estate market. When the government swiftly acts to make upward revision of guidelines value to get more revenue, in the 
same fashion the Government should swiftly act to reduce the guidelines value when the market is on the downward trend.

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Tuesday, October 22, 2013

RER frank talk

Real Estate Reporters Frank Talk

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The year 2002 had been a phenomenal year in many respects. The property market, hit by the economic slowdown in the west, post 9/11, the uncertainty in the domestic software industry and the investment possibilities put a positive spin on the situation as the year progressed. There were certain national Singapore Travel Guide events too that scarred the year 2002 to a large extent. 

The terrorist attacks on the Akshardham Temple and the Raghunath Temple, the Godhra carnage, the scams in the property sector, like the multicrore fake stamp paper racket, building plan sanction racket, land misappropriations and issuance of fraudulent documents by some BDA officials. 

But a lot of good has come of 2002 in the housing finance sector and the property industry in general. The rates have firmed-up to realistic levels, and they are no longer reflective of the financial status of the IT professionals. Other boosting factors include the Financial Bill of 2002-03. It was a beacon of good things to come. 

The bill abolished the role of appropriate authority of Income tax department in property transactions, extended the interest - concession on home loans and created urban reform inventive fund. The central government liberalized the property transactions and repatriation norms of NRI and persons of Indian origin, opened the realty sector to foreign direct investment, permitted the Port Trust to lease their lands for 100 years for purposes other than port related activities.

 The National Housing Bank came out with much awaited rules of foreclosure norms of the bill, passed in parliament in the year 2000. All these positive developments Universal Studios Singapore were capped with passage of Securitization Bill by both the houses. The State Government has enacted a progressive Rent Act. 
But much needs to be done. Many states are yet to Sentosa Tour abolish the Urban land Ceiling Act. Many obsolete laws are in need of amendment. 

The Coastal Zone Regulations warrants re-Iook. Capital gains tax and investment demands liberalization. Uniform and affordable stamp duty, further liberalization of the norms of FDI, flexible land conversion laws, development of infrastructure are the pressing issues

We can expect much more from the new year, since all the obstacles have already been tackled by the property industry in the good old 2002. On a different note, we are proud to announce that our subscription Singapore Night Safari and readership base has grown considerably. You, the readers have brought us this far in our efforts to be the number one real estate property magazine and provide the people quality information and guidance

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Monday, October 21, 2013

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We take care of all procedures and formalities on the documentation part and we have a vast experience in handling the legal procedures on property dealing. All pre-sale and post-sale services will be done on time to reduce your stress and save the time on the deal. Thus we provide a happy atmosphere here to make your life happy and peaceful. Searching a potential property within the budget considerations is a great task and we can handle it with ease as we have a good experience in the Bangalore property business.

We take care of the amenities to be provided in the project homes within the budget provided by you. A complete service oriented company that finds a solution on the searching and finding a suitable apartment or property. We have a well trained administration team and a legal team that handles any sort of issues and if needed soft and smooth solutions provided. We know the market rates and the future developmental activities of the area and the future value of the properties in Bangalore. The investment you made upon on the guidance of Bangalore Property 4 U will be certainly a worth investment ever in your lifetime.


Searching a property in Bangalore 5 regions made easy and we list all the properties in our website to make you understand and decide on the purchase with knowledge. Nothing will be left on the information part of the property and the value of the each item will be given to the buyer to make a worth investment.

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Saturday, October 19, 2013

RER frank talk on Road Management in Bangalore 5 regions


Bangalore is presently known as the city of LT. hub, Medical Hub, fastest growing city and international city. The population and the area of the city also is growing at an alarming speed. When Bangalore is considered to be an International City, the civic amenities available here should match the international standard. But, the position is in the other way round though several multinational organizations have their establishments here. 

Real Estate / Property Matters

The Real Estate team of Universal Legal consists of specialist lawyers advising on structuring, negotiating, documenting and executing real estate transactions.

The main grievance of the public is that the roads of Bangalore are pathetic. There is inordinate delay in repairing the roads and there is laxity in supervision. No roads of the city can be said to be free from repair and safe or comfortable for driving.. Though huge sums of money are spent on maintenance of these roads, the conditions of these roads revert back to its bad shape within a couple of months of repair. Reasons for this are many and obvious and are in the knowledge of all concerned.

S. Selvakumar, M.A.,M.B.A.,LL.M., is one of the leading Advocates in Bangalore and he has been rendering useful legal services to the public since 1984 by enlightening them about the intricacies involved in property transactions.

To over-come the difficulties faced by the public and to speed up the work of repairs and monitoring of such works, a separate department known as Department of Minor Works may be created by the Government of Karnataka. This department shall exclusively attend to the work of road repairs, repair to sanitary and water lines, street lighting and such other allied works which are presently under the jurisdiction of BBMP, BWSSB, BESCOM etc.. 

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It should have a separate Toll free contact number similar to 100 and should function 24 hours daily. It should have full-fledged staff with impeccable character and material required to attend to the complaints of the public without delay. Strict monitoring ofthe works carried out by this department by an High tech body and strict vigil over the fund utilization by this department by the authority nominated by the Comptroller & Auditor General of India is also necessary to avoid pillage of public money. 

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In case, the repair work requires involvement of a qualified contractor, this department should award the work without much delay by calling quotations from the panel contractors. The repair works are to be completed within the time schedule and the work executed by the contractor should be subject to defect liability clause and a portion of the contract sum must be withheld till the expiration of the period under defect liability clause.

Friday, October 18, 2013

RER franktalk on Present Real Estate Scenario

The global recession has hit not only the financial institutions and share markets in the country but also the real estate sector. On the one hand, there is no demand for high cost apartments and there is an unsold stock, while on the other there is a great demand for housing from poor, lower and higher middle class for economy houses

Government should never forget that the slump in the real estate market will have a direct bearing on other sectors as well such as Steel, Cement, electrical, paint, glass and wood industries etc. The real estate industry provides employment to a large number of skilled, unskilled and technical personnel. Not only this, the Real estate industry is a great revenue earner for the States both under direct and indirect taxes

Since Housing is one of the basic necessities, Government should initiate urgent action to cater to the housing needs from all categories of people. Formation of Special Residential Zones for construction and supply of residential accommodation for poor, lower and middle class people at affordable costs, motivating the private property developers to construct economy houses or apartments for poor, lower and upper middle classes by offering subsidy or incentives, introduction of Single Window Clearance system to avoid delay in getting approval from BDA/BMRDA and No Objection certificates from different Governmental bodies such as, BWSSB, BESCOM Pollution Control Board, etc., reduction in the levy of taxes such as VAT, Service Tax, etc., levied on the raw materials used in the construction industry and reduction of stamp duty and registration charges and the estimated market value of the immovable properties and buildings fixed by the Government could be some positive steps in this direction.

The levy of property tax can be on slab system basis instead of percentage basis. Further, the commercial banks may be instructed to provide housing loans to the people with reduced rate of interest with an assurance that the rate of interest will remain stable during the tenure ofthe loan period.

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Thursday, October 17, 2013

RER frank talk on Bangalore city Traffic problems...

City Traffic Problems 

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The Bangalore city has been plagued by the problem of traffic congestion which has a direct bearing on the living conditions of the people and growth of business and in addition it acts as a major contributor to air pollution in the city

The reasons for traffic congestion would include bad conditions of roads, poor traffic management and dearth of proper infrastructure such as flyovers and to a certain extent few indisciplined drivers. 

Bad conditions of roads such as narrow roads, potholes on the roads, badly laid roads and median would cause hurdle in the free and smooth movement of vehicles leading to traffic jam. Poor traffic management i.e. uncoordinated traffic lights, inability to enforce lane or speed discipline, inability to divert traffic to alternative roads to ease traffic jam on a particular road would in no small measure add to the problems of traffic congestion. 

Insufficient infrastructure such as inadequate flyovers, pedestrian underpass, badly designed traffic junctions also contribute to the traffic problems ofthe city. It is needless to say that the people at large and the industrialists and the business people in particular are fed up with the traffic problems of the city. It would be a great service to the citizens of the town if the Government in power and the authorities at the helm of affairs would sit together and find a coordinated solution to the problem. 

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In so tackling the problem, the Government can seek views and guidance of the resident welfare associations and such other knowledgeable individuals before finally arriving at the solution. Expeditious completion of Metro Rail and Mono rail projects would also help in redressing the traffic problems of the city. 

Thursday, October 10, 2013

RER Frank talk on Changed made in Land Conversion Procedure


As per the existing procedure, agricultural lands are to be got converted for non-agricultural residential purposes in the name of the Agriculturist. If a Developer identifies any property, he has to enter into an agreement with the landlord and spend money for purchase of land, for obtaining NOC and sanctions for Layout or Building Plans from various authorities, in addition to making payments towards plan sanction fees, licence fees. 

Cauvery Cess, professional charges for architects, etc, and apply for approval of layout or apartment building plan with the Town Planning Authority [BDA] involving lot of procedure which may take nearly one year. The developer has to apply for conversion in the name of the Agriculturist and has to pay the necessary charges for such conversion. 

What is B.M.R.D.A.?

According to the existing procedure, only after approval of the plan, the developer is entitled to get the Official Memorandum for conversion land. Only upon the Developer getting the conversion order in the name of the Agriculturist he can get the property registered in his name. Some times, after obtaining the plan sanction, the Office of the Deputy Commissioner may refuse to issue the Official Memorandum on some frivolous technical ground putting the promoter to undue hardship and difficulty. 
An analysis of the present procedure would go to show that it is highly cumbersome, time consuming and unhealthy. Hence the new proposal ofthe government for initially getting the land converted and thereafter getting the plan sanctioned for development of the converted land is a welcome move. It would not only solve the sufferings of the Developers but also would encourage them to undertake a large number of projects with confidence which in turn would benefit the consumers. 

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