Tuesday, October 22, 2013

RER frank talk

Real Estate Reporters Frank Talk

Myhna Heights an inspiring project from Myhna Properties located in Sarjapur Road Bangalore with 2BHK apartments and 3BHK Apartments. 

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

N D Passion Pent house an innovation from ND Developers on Sarjapur Road Bangalore with Exclusive amenities like Children's play area, Swimming Pool, Club House, Basket ball court and Many more... 3BHK Apartments  and 4BHK Apartments available in this ND Passoin Penthouse. Click here to know more...

Click on below links for more information 

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