Friday, February 28, 2014

2 & 3 BHK Apartment Sale in Jakkur,Bangalore @ Avani Gardens

Avani Gardens:

Avani Gardens is one of the popular residential developments in Jakkur, neighborhood of Bangalore. It is among the ongoing projects of Avani Builders. It has lavish yet thoughtfully designed residences.

Project Name: Avani Gardens
Apartment Type: Multistorey Apartments
Area Range: 1200-1550 sq.ft
Price: 38.88 Lacs to 50.22 Lacs
Location: Jakkur,Bangalore
Bed Rooms: 2&3 BHK

Article Regarding: Rectification of your document

Rectification deed is a document executed between parties for the purpose of effecting corrections of the mistakes of facts / typographical errors which are committed in the original/principal deed.

In one instances, one Mr. Sampath purchased a residential site at Peenya, Bangalore for a consideration of Rs. 4 lakhs and got the sale deed in respect of the said property registered.  After receipt of the sale deed, he discovered that the dimensions of the property provided in the schedule annexed to the said sale deed, were wrongly stated as “East to West 40’ and North To South as 30’” instead of “East to West30’ and North to South 40’.” In another instance one Mr. Rajagopal had a similar problem in the sale deed executed by him, wherein the boundaries of property purchased by him were wrongly stated. The mistakes committed in the above two instances are too common and are rectifiable.

However, the case of one Mr. Narasimhan was found to be slightly different, as he has purchased two individual properties from a common vendor under a common sale deed and thus both the said individual properties had a common schedule, annexed to the said sale deed.  Mr. Narasimhan, subsequently was shocked to discover that encumbrance certificate pertaining to the said properties did not reflect their individual sale, but only reflected the combined sale under a single property schedule.

There are many such instances to be found wherein mistakes creep into sale deeds, which are not properly verified and compared with the title deeds, revenue records, and those are usually documents, which are not drafted by professionals/advocates.  Sometimes, the area of the property, survey numbers, location, boundaries, municipal numbers, description and number offloors, are wrongly stated.  Names of parties are mis-spelt, consideration amount incorrectly stated, easementary rights not being properly dealt with.  In many of such cases, the real intention of parties to the deed may not have been reduced into writing.

Such mistakes, errors in the deeds require to be corrected by execution of a supplementary document namely a rectification deed.  Rectification of deeds is supported by the various canons of law and is an equitable relief usually granted by the Court of Equity and is based on doctrine of mistake of fact.  In order to execute a deed of rectification, there must be mutual bonafide mistake whereby the original deed does not reflect the true intention of parties to the said deed.

More importantly the said mistake should pertain to facts only and not  a mistake of law. However, a notable exception to the said rule is in respect to mistake of foreign law which is considered as mistake of fact for the said purpose.  Sections 20 and 21 of Indian Contract Act deals with this aspect of law.

When the parties to deed, agree to modify, add, delete any terms referred to in any original deed executed by them on a prior dated, to bring out their true intentions, it is necessary to reduce such correction into a duly executed document and to pay the requisite stamp duty in order to get the same registered with the concerned authority.

Rectification Deeds are executed out of mutual consent of the parties to Main Deed, and all such parties to the original deed should jointly execute the rectification of the same. However, a problem may arise where such mutual consent is not possible.  In such cases, the recourse is to file a suit before a competent court under section 26 of Specific Relief Act 1963.  The said section provides for relief to parties facing the problem stated above, where the real intention of the party is not properly reflected in the documents executed because of a bonafide mistake of fact or fraud, whereby either the party or his representative may institute a suit to have the said deed rectified.

The said section also empowers the courts to direct the rectification of an instrument, if the court satisfied that the deed does not express the real intention of the parties.  In such cases the original deed may be first be rectified and then the parties claiming rectification should seek sanction of the court to such rectification in his pleading and if the court so thinks fit, the same may be specially enforced.  This relief will be granted, only if it has been specially claimed in the pleadings.  However, if the said relief has not been specifically claimed, the court at any stage of proceedings at its own discretion may allow the party to amend its pleadings to incorporate the said relief.  This relief is entirely discretionary and when granted will not prejudice the rights acquired by a third party in good faith for value.

If the original deed is registered, the corresponding rectification deed also requires to be registered. The stamp duty and registration charges payable for registration of the rectification deed are as prescribed by respective states.

If the rectification deeds rectifies the mistakes of general nature, boundaries, spellings, etc the stamp duty and registration charges are Rupees One Hundred each, and if the rectification deed refers to the area, extent of the property, names of the executants, stamp duty and registration charges are as that of conveyance deed.

Thursday, February 27, 2014

Article Regarding “BASICS OF HOME LOANS”

Project Name:NBR Classic
Accessible Roads, Well Developed Residential Atmosphere with verdant landscape of serenity. The environment is fuelled with lots of open area allowing soothing air all around, the pictorial view of adjacent residential units brings you the perfect blend of luxury lifestyle with commercial affordability.

Project Name:NBR Classic
Multistorey Apartments
Area Range 929 - 1223 sq ft
Price 3000/Sq ft.
Location Begur Road,Bangalore
Bed Rooms 2 BHK

Once you think of buying yourself a house and go looking for that perfect dream house, only to find out that you are unable to finance your new house at the moment.  And you realize that you really want that new house.  You might at this point  consider the option of taking a bridge loan. A bridge loan is the scenario wherein if you have enough equity in your present home, the bridge loan will allow you to avail of a loan so that you can make a down payment and buy your new house.  The only catch here is that the interest rates on the bridge loan are much higher than those on the home loans.  Another thing to consider is that it is short-term loan, and there are also costs and fees involved.  Therefore you might do better for yourself, if you consider applying for a home loan The procedure is simple and of course you have to meet a certain eligibility criteria.  Once you have identified the house that you want to purchase, you can go ahead and approach any financial institution dealing or disbursing home loans.

Though applying for a home loan may seem like a very difficult task, it definitely need not be that way.  Given below are some Home Loan Basic that you need to know before you go about applying.  The first step to getting a home loan involves filling up the application form of chosen financial institution along with the required documents.  Do remember that you will need to pay a one time processing fee at this stage.  You will also require some important documents to get through with the loan processing stage.  In case your are an employed individual, you will require verification of your employment form, your latest salary slip/salary certificate which outlines all deductions for at least the last 6 months.  Form 16 from your employer for the last 3 years.  In case you are a self employed individual, you will need a Balance Sheet and profit and loss account of the business/profession along with copies of individual income tax returns for the past 3 years as certified by a  CA.

You will also need a note, which gives the information on the nature of the business, year of establishment, present bankers, form of organization, clients, suppliers etc.  And of course you will need a statement proving your net worth as an applicant.  Once you are past this stage you will need to submit the property documents.  After getting the approval from the financial institution where you plan to borrow, the loan will be disbursed to you.

Benefits ofHome Loans:  You can easily avail home loan from various companies which offer home improvement loans to finance the cost of tiling, plumbing, electrical work, grills, woodwork, painting, compound walls and almost all improvements for your house.  In fact  it must be a good idea to avail of these home loans, because they offer a number of added advantages as well.  One of the most important benefits of taking a home loan is the interest rate that is allowed on the home loan.  Fixed and variable interest rate options are also available for home loans.

Many financiers also offer home improvement loans at the same interest rate as they offer the home loans.  Most of the prevailing interest rates fall in the range of 7.75% to 8.75%  There is usually processing fee of 1.00% to 2.00%  also that is involved.  The other benefit of taking a home loan is the security that is to be currently being constructed as the security for the home loans.  Of course, most banks and finance companies do not finance more than 85% of the cost of the property mortgaged.  Perhaps the benefit that is most used is that of the tax benefit.  The interest that is paid on home loans are deductible from the annual value resulting in a lower taxable income.  For self occupied property, interest to the extent of Rs.30, 000/- is  deductible from taxable income.  The maximum amount of fund that can be received through the home loans varies between 50%-100% of the total cost.

Of course the loan amount is also subject to the repayment capacity of the borrower.  The usual rule states that the sum of all the monthly installments a borrower has to pay should not exceed 40%-50%  of his gross monthly income.  Apart from the income and margincriteria, the applicant needs to be a salaried or self-employed individual. And it is important that the loan is repaid before the retirement stage, or before the person turns 65 years in case he/she is self-employed.  On an average the repayment term of the home loans can be extended up to 15 years.

Home LoanAgreement :  With the ongoing flurry of activity and festivity prevalent in the home loan segment of India recently, a large number of people, in the euphoria to acquire that dream house, tend to overlook some of the most important clauses in the home loan agreement.  However, what they don’t realize is that these clauses have a significant bearing on wide number of areas ranging from interest rates to repayment schedules.

Some of the simple clauses of the home loan agreement regarding to simple matters, such as how often the housing finance company resets interest rates in a year can make a considerable impact on the floating rate home loans.  The norms in the industry practices suggest that interest rates for home loan consumers are reset only when the bank’s prime lending rate is changed.  Therefore it is the frequency of these resets that is really important Some of the finance companies offer home loan agreements wherein the interest rates are reset in each quarter.  Alternatively, there are other companies who do the revision only once a year.  Sadly not many home loan consumers are aware of the clause related to the fixed rate home loans, which the financial companies some times insert in their home loan agreement.

This ignorance can cause the customers unintended losses in case of revision of the fixed rate home loan rates.  Most of the customers are not aware that this particular fixed rate clause in the home loan agreement, permits the financial institutions to change the loan’s repayment schedule and terms and conditions.

The financial institutions in a rising interest rate environment might exercise this option in order to safe guard themselves and in the interest of their own company.  This move is usually not in the best interests of the customer or the home loan seeker as the modification of the repayment schedule, terms and conditions might affect the overall repayment of the consumer.  The long list of terms and conditions of the home loan agreement, usually contain clauses which might possibly have a number of significant implications for the consumer and therefore it is important that the consumer is aware and makes an informed choice accordingly.  Courtesy : M.Hemdev.

Wednesday, February 26, 2014

3 and 4 BHK Multistorey Apartments Now Avilable in Bangalore @ Rajaji nagar

The tallest, ritziest residential tower in Rajaji Nagar. 37 floors of sheer luxury in the city centre.

It is a project we believe befits your stature and will change the landscape & the skyline of this part of the city forever.Through this communication, we are pleased to offer you the privilege of an exclusive preview and a right to exercise choice in selecting your preferred apartment in this prized property, much before the official launch in the open market.For connoisseurs like you, Sobha Developers hardly needs an introduction. As a leading real-estate company based out of Bangalore &nb...

Apartment Type: Multistorey Apt
Area Range: 1950-4020 Sq.Ft
Price: 2.21Cr to 4.56Cr
Location: Rajaji Nagar,Bangalore
Bed Rooms 3 BHK,4 BHK

Bangalore is the fastest growing city in the country, in Asia or for that matter in the world are very commonly heard statements about Bangalore these days. As a Bangalorian staying in the city for nearly five decades would certainly agree with the fact that the city is growing fast, particularly for past two to two and a half decade.  But unfortunately the growth as we Bangaloreans know is unscientific and   haphazard.  Everybody wants to come to Bangalore from distant places in the state as well as from far off places in the country in search of living.  As a result population has grown to the extent of almost about fifteen times compared to 1955.

Easy availability of comparatively quite and economical labour and skilled workers, the city attracted lot of industrialist to start industries.  Industrial growth during the 60s and 70s was at its peak.  Then came IT industry.  The city got its title silicon valley.  Centre’s liberalised industrial policy gave boost to IT industry.  Bangalore became the choice destination for investments, in view of its salubrious climate and its topography.  Today IT industry in Bangalore is on the top in the world map.  Yes, really Bangalore is developed, industrially too.

But, the city has not developed its infrastructure though it has grown vast to an unimaginable magnitude taking its population to six million.  The roads in the erstwhile city limits have remained to be the same as they were in 50s even today.  The roads in newly added layouts are not wide enough and are not to the required standards.  The roads are not tarred for long and are full of pot holes and are difficult for monitoring.  The footpaths are not worthy to be called user worthy.  The city’s development, without the development of infrastructure, is not a good sign. 

There is no proper planning for improving the roads which cannot take the present ever increasing traffic.  The traffic has increased abnormally with the growth of automobile trade and liberalised bank finances.  In fact the present situation it is said, almost every house hold in the city, in most of the segments, have more than one vehicle.  In the 50s one could count the four wheelers and scooters moving on the roads, unimaginable!

It is said that in Bangalore there are in all about 21.85 lakhs vehicle running in Bangalore’s sub standard roads.  Of these 16.06 lakhs are two wheelers.  Apart from this every day about 700 vehicles are being added.  The reason for such large number of vehicles is only because of poor and inadequate public transport.  In addition to the fast moving automobile vehicles there are slow moving animal driven and men driven vehicles like pushing carts, etc, causing congestion and traffic jams.

With the addition of 700 vehicles every month the situation will certainly be grim.  We are to some extent now immune to the traffic jams in almost areas of the city.  It is difficult to imagine the road scenes in the next couple of years.  To reach from one end to the other end of the city it takes not less than two hours. With the annual growth of vehicles population and the bad roads, the situation does not augur well.  But nothing can be stalled.  The people concerned with the development of the city’s infrastructure only have to rise to the situation and should be able to respond favourably to the expectation of the citizens.  If situation is allowed to continue in the present state, we may have to look to the almighty helplessly.  Hope that situation will not come.

Tuesday, February 25, 2014

Now 1 BHK Apartment Sale in Bangalore @ Lilium Gardenia

 Lilium Gardenia:
LILIUM Garden is Located at Hebbal by Dhammanagi Developers, Dhammanagi Lilium Gardenia is one of the popular residential developments in Hegde Nagar, neighborhood of Bangalore. It is among the ongoing projects of Dhammanagi Developers Private Limited. It has lavish yet thoughtfully designed residences in 6 Blocks....

Project:Lilium Gardenia
Multistorey Apartments
Area Range 977-1593 Sqft
Price 41 - 65 lacs
Location Hebbal,Bangalore
Bed Rooms 1 BHK

Saturday, February 22, 2014

3BHK & 4BHK Multistorey Apartments Now avilable in Jakkur Bangalore at Unishire Signature

 Unishire Belvedere Signature is one of the popular residential developments in Jakkur, neighborhood of Bangalore. It is among the ongoing projects of Unishire Groups. It has lavish yet thoughtfully designed residences. Located in the much sought after neighbourhood close to Manyata Tech Park, Jakkur Double Road, off International Airport Road, the impeccable German Architect designed residences accommodate 62 exclusive Condominiums including 3, 4 and 5 BHK Simplexes, Duplexes and Penthouses in an elegantly crafted 18 floor high-rise. Besides, Unishire Belvedere Signature offers a host of modern facilities and unique features in tune with Unishire philo...

Project: Unishire Signature
Apartment Type: Multistorey Apartments
Area Range: 2439-3602 Sqft
Price: 1.28-1.62cr
Location: Jakkur,Bangalore
Bed Rooms: 3 BHK,4 BHK

Friday, February 21, 2014

Article regarding “ALLOTMENT OF SITES BY BDA”

Bangalore Development Authority has become hyperactive and has been distributing the sites in large numbers.  Naturally the people are eager to know the methodology adopted by BDA in allotting sites.  This write up gives the broad outlines of the procedure followed by BDA.

Bangalore Development Authority (Allotment of sites) Rules 1984 govern the allotment of sites.  These rules are periodically modified.

Whenever authority forms an extension or layout; offers the sites in such extension/layout to the general public, wide publicity will be given mentioning the location, number, area and last date for submission ofapplications.  The details are also published is not less than three newspapers of Kannada and English, which are published from Bangalore having wide circulation.

Authority is empowered to set apart, 40% of the site to economically weaker section at 50% value of the sites; out of this the 15% of the sites are reserved to Scheduled castes, 3% to Scheduled Tribe and 2% to the Schedule Tribes and remaining sites to economically weaker sections.

BDA may also allot sites on lease basis to educational religious, charitable institutions, which are registered under societies registration act, or Trust for public purposes.  But such allotment should not be more than 5% of the total site area in each layout.  Further sites reserved for civic amenities, public parks and playgrounds cannot be allotted in such manner.

Only the persons who have registered their names on payment of prescribed registration fee are eligible to apply for allotment of sites. The registration fee at present is as follows: -

 Site in sq. Mts.                                                            Fee                                                  
           a) 350 and above                                      Rs. 2,000/-
           b) 225 above but below 350                       RS.   500/-
           c) Below 225                                             Rs.   100/-

If the applicant withdraws the registration the registration fee paid less 10% will be refunded to the applicant.  Registration once done is valid for any subsequent attempts.

In case the applicant dies after registration, the spouse, of the deceased applicant is entitled to apply for allotment.  If the spouse is not alive the dependent children, will be deemed to have registered area have right to apply for allotment.

The registered applicant or his legal heirs have to apply for allotment of site in prescribed from (form II).  The applicant should also remit 12.50% of the notified cost of the site along with application as initial deposit.  The initial deposit payable in case of Schedule Castes, Schedule Tribes, are backward tribes is 5%.

The correctly filled application along with initial deposit should reach the authority before the time fixed for receipt of such application.  The BDA notification generally informs the mode of paying the initial deposits, by remitting to certain banks.  The completed application forms may also be handed over the specified branches.

In case the application is pending with BDA for allotment and the authority invites applications for further sites, the applicant should again apply in from II (A), but there is not need to pay initial deposit.

Only a person who is major, and a resident of Karnataka for not less than 15 years prior to the date of registration, and who or whose family members does not own a site or house on Bangalore, or not allotted any site or house by BDA or Housing co-operative societies is eligible to apply.

The requirement of 15 years residence in Karnataka is subject to relaxation in case of persons who are residents of Karnataka, but being employed in armed forces serving outside Karnataka; have gone out of the state for employment, higher education, but have bonafide intention to settle in Bangalore metropolitan area.  BDA may also waive this condition with the prior permission of the government, in case of persons who have achieved outstanding performance in field of art, science or in any other field.

a)        Backward tribes                                     - 2%
b)        Scheduled Tribes                                    - 3%
c)        Schedules Castes                                   - 13%
d)        Members of armed forces,                       - 10%
           Ex-Servicemen and members of
           Deceased service men
e)        State Government Employees                  - 10%
f)         Employees of Central Government            - 8%
           Public Sector Undertakings,
           Statutory Bodies owned or
           Controller by State or Central
g)        Physically handicapped                            -2%
h)        General Public                                        -50%
i)         Persons who have outstanding                  -2%
           Achievement in this field e.g.
           Arts, Science, sports

If sufficient number of applicants are not available in category A the balance sites will be transferred to category B, then to category C and then to category H (general public) likewise in the absence of sufficient number of persons in category, F, G, I, the balance sites will be transferred to category H (general public).

The word outstanding achievement is defined as achievement at state, national, international level, where an award or a medal is presented by the authorities duly recognized by state or central government.

The parameters for allotment of sites to all categories except, persons with outstanding achievement are: -

1)        Material status of the application, that is whether the applicant is single, married having dependent children,

2)      Income of the applicant; avid capacity to purchase the site and construct a house there on.

3)       Number of attempts made by the applicant.

4)      Whether any land of the applicant has been acquired by BDA for formation of layout for which he has applied.

The income criteria in case of Scheduled castes, scheduled tribes, Backward castes is not applicable.

In case of the applicants with equal number of attempts the elder applicants will have priority.

The BDA will constitute an allotment committee comprising three official members comprising three official members and three non-official members.  The chairman of the BDA shall be the chairman of allotment committee. The allotment of the sites by the committee is subject to approval of BDA.

The BDA reserves its right to alter value of the sits, and the allottee has option either to accept the altered value or decline it.

BDA informs the allotment of site to the applicant by a notice sent to the latest known address.  The successful allottee shall pay the balance amount of the site value within thirty days from the receipt of the notice of allotment. This period may be extended to 60 days only at the discretion of the BDA on request from the allottees. The allottee has to pay interest at 18% for the extended period on failure to remit the amount within the extend period; the allotment is liable to be cancelled.

The payment period is three years in case or persons belonging to Scheduled castes, schedules tribes, backward tribe, family of defense personal killed or disabled during hostilities and whose annual income from all sources does not excess Rs.1,800/- or belonging to weaker section as notified by the government from time to time.  The balance amount may be paid in three annual installments without interest.

On payments of the balance amount of the site value the allottee will get the sale deed duly executed. The stamp duty, registration charges, incidental expand should be met by the allottee.  If the allottee is married the sale deed will be in executed in the joint names of allottee and spouse.

If the particulars furnished in the application form for allotment is found to be false or incorrect, the Bangalore Development Authority may forfeit the site value deposited and the allotment cancelled.

Earlier, on payment of full value of the site, BDA was executing only lease cum sale agreement, with a condition that the house should be constructed within a period of three years.

The absolute sale deed used to be executed/registered only construction of the house and the completion of the 10 years lease period.  The relevant rules were amended during year 2000, paving way for execution registration of sale deed on payment of full value of the site.  The entire process will be completed in a very short period.

Another interesting aspect is that the BDA rules provide for voluntary surrender of the site at any time to BDA, and obtain the full refund of the amounts paid.

But nobody would surrender the allotted sites to the BDA, as the open market offers attractive rates.  Periodical amendments to the BDA (Allotment of sites) rules have removed many time-consuming procedures and restrictions.  The embargo sale of the allotted sites for a period ten years, construction of the house within three years nor more exists.  This modification makes people more interested in buying the BDA sites.

With regard to number of attempts in an interesting case, the national consumer forum has ruled against BDA.  The authority allotted a site to the applicant, which was later cancelled. The applicant has made six attempts, some as government employee and some under general category.  It was contended by BDA that number of attempts under each category have to be reckoned separately for allotment of site. The district consumer forum, and state commission decided against BDA, which went in appeal to the National Consumer Forum, which upheld the decision of lower forums. The national commission held hat plain reading of BDA rules makes it clear that at best it is silent on the point, that number of attempts to read in each category separately, or altogether, so when law is silent on a point, the benefit should to the complainant.

Disposal of stray sites, commercial sites, and corner sites is governed by a different set of rules.

BDA has a responsibility to the people.  It is necessary that various rules that govern the BDA’s activities made known to the paying public.  Authority should come out with simple andupdated version of the acts/rules, and be made available to the public at affordable price.

Wednesday, February 19, 2014

"2 and 3 BHK Multistorey Apartment Now Avilable in Bangalore, Sarjapur Road @ PSR Aster"

Welcome to PSR ASTER A BMRDA Approved 2&3 BHK luxurious residential apartments is located in the IT hub on Sarjapur Main Road, it is close proximity to many of the well known locations, Educational institutions, Hospitals, and Shopping Centers making it an attractive options for the Home buyers. It has total 344Units and the Apartments Super Built up Area will range from 1025 Sq.ft. to 1585 sq.ft. The compose Of PSR ASTER is Stilt-Parking Space, Ground +3 upper Floor Building with Seven Bloc..

Apartment Type: Multistorey Apartments
Area Range: 1205–1340 Sq.Ft
Price Rs. 31.33 Lacs onwards
Location: Sarjapur Road, Bangalore
Bed Rooms: 2bhk, 3bhk

See Here One Article Regarding: 

Properties and human beings are inseparable. With progress and social change over the ages the urge to own property, wealth has acquired demonic proportions. In the present day world, immovable properties are the most valued assets one can possess.

The desire to own material possessions reared its head in the inquisitive mind of the Stone Age man. Thus women, children came to be his first personal assets, followed by immovable properties. While literacy and social outlook have elevated the status of women and children, there has been no change worth the name as to the status of immovable property as the personal asset of the human being. So long this state of affairs continues problems relating to property transfer will persist. From Stone Age to cement age, it has been a long haul.

Partition is division of property held jointly by co-owners. When a property is divided each member becomes sole owner of his portion of the property. Each divided property gets a new title and each sharer gives up his or her interest in the estate in favour of other sharers. Therefore, partition is a combination of release and transfer of certain rights in the estate except those, which are easements in nature.

Partition is neither a gift nor a transfer of property. It merely breaks a joint right into several rights. It is not acquisition of property or exchange of property. It is a combination of release and conveyance of the rights of the property in favour of individuals. And therefore it can be effected orally. Partition is not transfer but when it assumes the form of transfer, the intention may be to hoodwink the creditors.

The basic character of joint Hindu family is that each member has inherited title to the property by birth. Each member has joint title to the entire property and that joint enjoyment of the title is converted by partition into separate title of the individual co-owner for his enjoyment. Therefore, it is now an establishedfact that partition is not transfer, but transformation of joint property.

There are some properties, which cannot be divided physically. If physical division is not possible, partition can still be effected by paying cash or other assets to a sharer in lieu of his or her share in the property. Such situation arises when the division of an estate is considered to be dangerous and unreasonable, and when such division dilutes the inherent value of the property, or when the immovable property is too small for division.

The instrument of partition is a document by which the co-owners of a property agree to divide the property among themselves by oral agreement or written agreement or by arbitration or through court. If a document of release shows that the executants are to get cash or other assets, the document is an instrument of partition. The basis of partition is equality. The parties shall share the property equally.

If there is no agreement among the co-owners for amicable division of the property, the only alternative is to sell the property by mutual consent or by court decree and distribute the sale proceeds among the co-owners. Any of the co-owners may also enforce partition through Court.

In a partition suit a court may have decreed partition of the property in the interest of the co-owners. But if it is found that the sale of the property and distribution ofthe proceeds to the co-owners is more beneficial, the court can at the request of the shareholders direct sale of the property and distribution of the proceeds to the co-sharers.

There are three types of co-owners: Joint tenants or tenants-in-common; Hindu Joint Family owners or coparceners; partners of a partnership firm.

Under the Hindu Law in general everyone being a co-owner in a joint ownership has a right to claim his share and such right cannot be denied to him if the property is held as joint tenants. Since joint tenancy is unknown to Indian law, there is not much difference between joint tenancy owners and tenants-in-common.

Christians and Muslims hold properties as tenants-in-common or as joint tenants and partition of such immovable property can happen by mutual consent or by partition deed or by court decree or arbitration.

Tuesday, February 18, 2014

2 BHK Multistorey Apartments in Bangalore Electronic City, at JMR Rose

"JMR Rose" is one of the popular residential developments in Electronic City, neighborhood of Bangalore. It is among the completed projects of JMR Developers Pvt Ltd. It has lavish yet thoughtfully designed residences.

Project Name:  JMR Rose
Project Type:   Multistorey Apartments
Area Range:    953 - 1082 sq. ft.
Price:             30.97 Lakhs to 35.16 Lakhs
Location:        Electronic City, Bangalore
Bed Rooms:    2 BHK