Saturday, March 29, 2014



There are various modes for transfer of property like sale, gift, and mortgage; similarly one of the modes is exchange of properties, which is a species of transfer of property akin to the barter system which use to be a common mode of carrying out day to day commercial transactions.

In barter system movable and immovable properties are exchanged based on the requirements of both the transacting individual.  For example a cow was exchange for food grains, spices was traded for gold and so on and so forth.

Section 118 of Transfer of Property Act deals with Exchange, which is defined as a transaction where two persons mutually transfer the ownership of one thing, for the ownership of another.  The definition encompasses the exchange of both movable and immovable and the only condition being that one of the two properties to be exchanged should not be for money.

To simply define, it is a mutual grant of equal interest, the one in consideration of the other.  Exchange is different from sale.  Section 54 of the of property deals with sale, which is defined as transfer of ownership in exchange for a price paid, part paid or part promised.  The word “price” is defined in sale of goods act as money consideration.  As for as exchange; the money cannot be transferred, for any other property.  Thus the distinguishing factor is the mode of payment of consideration, i.e., money in the case of sale where as in case of exchange, it is paid in kind.  Out concern at present is exchange of one immovable property with another immovable property.  If the values of both properties are not equal, then the difference in the value has to be paid by money.

Section 119 of the Transfer of property provides for remedy for defective titles of the properties in exchange.  For example A and B exchange properties later on ‘A’ finds that the title of the property received from B is defective.  The ‘B’ is bound to make good the loss suffered by ‘A’, even if ‘A’ so desires to return the property received from ‘A’ canceling the exchange transaction.  This liability extends to the legal heirs of B and also to the transferees, who have received the property exchanged without monetary consideration like Gift.  However, the liability does not bind the bonafide purchaser.  The procedure is similar to that of sale, where first an agreement of exchange is drawn.  Section 120 of the Transfer of property provides that each party to the deal has rights and liabilities as that of seller as to what he give and that of purchaser as to what he takes.  Thus the rights and liabilities of the seller and purchaser as dealt in section 54 and 55 of transfer of property act will apply subject to the terms of agreement of exchange.

The transaction is complete only, when mutual delivery of possession of respective properties is completed as evidenced by deed of exchange.  When a party to an exchange has not been put in possession of the property, which he is entitled; then he is entitled for a return of the property transferred by him provided the property is still in possession of the other party or his legal representatives or a transferee without consideration.

Registration of Exchange Deed is compulsory and the stamp duty and registration changes are as per the respective State laws.  In Karnataka exchange of property attracts stamp duty as that of conveyance based on the market value of the property with the greater value amongst the two properties, which are the subject matter of exchange.

TROPICAL NIRVANA Villas Area Range 2950 - 3250 sq.ft., Located at Sarjapur Road, Bangalore available with 3BHK Villas and 4BHK Villas.


Super-luxury, suburban, limited edition villas located in the midst of the fast-emerging Bangalore suburb of Whitefield-Sarjapur Extension – the one-line description of the superior product that is Tropical Nirvana. It is, however, this multi-layered description that encapsulates the several advantages of the project: a location in a serene neighborhood which is witnessing tremendous commercial & social infrastructure development activity; the limited edition approach driven by extremely high standards of design and specification coupled with an alluring Balinese design approach; and easy access to the best urban facilities and a range of premier amenities.

A great living option in a premier, ensconced enclave, Tropical Nirvana is also a very exciting investment destination. A combination of the product profile and location ensure that the project is poised to witness significant value appreciation in the mid to long term. Upcoming campuses of major IT corporations in the vicinity, easy access to the IT hubs of Whitefield to the North and Sarjapur to the South, high commercial activity and creation of hubs for social activity, retail – ensure that the location of Tropical Nirvana will be a high activity urban centre very shortly.

With all of these attributes, Tropical Nirvana signifies a moment – the point in time when the desires of the heart and the conditions of logical thinking all come together to create an irresistible proposition.

Friday, March 28, 2014

An Article About "FDI in Real Estate"

Though the Indian economy was opened up and liberalization was set in, Foreign Direct Investment in real estate was not much encouraging.  Foreign investors preferred stock markets for investments.  Though there was much potential in real estate, the property laws of the country and investment climate deterred the investors.  The real estate is the mother of all sectorsand supports many industries.  Even the Government of India earlier restricted the foreign direct investment for political and security reasons.

It is estimated that our country will require $24 billion of investments in next five years and development of real estate sector is vital for economic prosperity.

The previous government led by Atal Bihari Vajpayee realised the importance of reality sector; further liberalised the norms of FDI in township development, information technology parks, special economic zones and hospitality sector.  But many felt dilution of norms is half hearted.  No doubt the new norms allow 100% FDI, but certain restrictions like minimum block-in-period of three years before repatriation of original investments and project completion stipulation that is 50% of the project should be completed within five years of possession of land work as road blocks.  As such there were only few proposals in the beginning and later on FDI in reality swelled may be owing to immense potential available in the country.  Many foreign construction companies areseeking clearance for investment as the reality sector.

Apart from the available potential there are other factors which have attracted FDI

A)        Increased demand
B)       Improving economy
C)       Availability of housing loans at reduced interest rates

Confederation of Real Estate Developers of India (CREDAI) informs that the sector is set to witness capital infusion of about $7 bullion next year; out of which $ 5 billion is from foreign investors.

China is a serious competitor to our country, as foreign investors prefer either China or India. But of late, the investors are moving to India as they find that property sector in China is reaching a point of saturation and as most of landed property there are leasehold and owned by the Government.  Whereas in India the property is mostly freehold and potential is huge.  Our Bangalore scores over Mumbai as to the freehold land.  Another important factor is returns on investment in commercial or residential property which are comparatively higher in India, particularly Bangalore.  The chart below shows the returns on investments.


Yield rates P.A.

Commercial (Offices)
Hong Kong

Many plots of sick and closed industries are being developed into apartments, shopping complexes, and recreation centres.  The respective state governments are also encouraging such developments as they earn more revenue from such developed properties.  Foreign investors see a golden opportunity in investing in such developments, but domestic builders, relators do not have resources to siege the chance.  The following chart lists the major Foreign Direct Investments in India.  Bangalore has the distinction of highest foreign direct investment. $791 million from Canada based Royal Indian Raj International corporation for Royal Garden City, a fully integrated township is coming up.  The total development will include 35,000 residential units with an investment of approximately $2.9 billion and is scheduled to be completed by 2015 in various phases.


Dubai-based Emaar Group has invested $100 million in a township project in Hyderabad that includes a hotel and a golf course.

Jakarta-based Salim Group is to invest over $ 100 million in a 309-acre (124 hectares) township project in Kolkata.  This Rs.500 million ($ 11 million) project will be developed as a joint venture between Salim Group and the Kolkata Municipal Development Authority.

High Point Rendel of UK, US-Based Edaw Ltd and Kikken Sekkel of Tokyo have teamed up to work on a township development project in Jharkhand.

Canada-based Royal Indian Raj International Corporation is coming up with $791 million for Royal Garden City, a fully integrated township in Bangalore.  The total development will include 35,000 residential units with an investment of approximately $2.9 billion and is scheduled to be completed by 2015 in various phases.  This is the highest FDI investment till date.

CESMA International Pvt. Ltd, a subsidiary of the Singapore government’s housing agency, alongwith the Andhra Pradesh State government, is promoting a township in Hyderabad.
Lee Kim Tah Holdings (a Singapore – based company) with an investment of $115 million is developing a 100-acre mega township along with commercial complex and related social infrastructure near Mumbai.

The Andhra Pradesh Housing Board has approved a 50- acre township in Vijayawada. CESMA International will construct houses and apartment blocks here.

Malaysian developer IJM is working on a township spread across 35 acres in Hyderabad near Hi-tech City.

Ho-Hup construction Company Berhad is coming up with a 125-acre development project at Shamshabad in Hyderabad along with the Andhra Pradesh Housing Board.

SembCorp Engineers and Constructors Pte Ltd, Singapore, is working on eight projects in Mumbai, Pune and Bangalore.  The company has invested $50 million.

Universal Success Enterprise Limited of Indonesia has signed a memorandum with Delhi-based developer Unitech Ltd for a $155-million information technology park and housing project in Kolkata.

Singapore’s fifth biggest property group, Keppel Land Ltd made its first foray into India after buying land in India’s Software capital Bangalore for $ 13 million.  Keppel Land, which is partnering Purvankara Projects Ltd, is developing the first phase of condominium project located in an area known for high-tech campuses.  It will be launched in early 2006.

Singapore-based Evan Lim & Co Pte Ltd is associated with a township development project in Visakhapatnam, Andhra Pradesh.

Uniworth Tranquil Row houses Area Range 1093 - 2506 sq.ft., Located at  Kengeri, Bangalore available with 3BHK Row Houses.

Homes at Tranquil are set on memory lane, yet they are a benchmark for tomorrow’s homes. A contemporary way of living with features that are both sensitive to you and the environment.

Every home hosts a verdant sanctuary, a private garden. Your personal space to decorate as you desire. Ideal for small get-togethers, al-fresco dining or an afternoon siesta.

Rainwater harvesting serves as a self-sustained water source. Rainwater is collected in a central storage area, treated and reused. A resource-sensitive, eco-friendly system, it ensures Tranquil never has dry spells. Waste water treatment ensures every drop is conserved, while keeping Tranquil green. Solid and liquid waste is biologically and safely treated at a central treatment plant before being recycled to be used in the landscape and garden areas.


Thursday, March 27, 2014

Mahaveer Tranquil Apartments for sale Located at Whitefield, Bangalore - 2BHK & 3BHK Apartments.

Mahaveer Tranquil Multistorey Apartments Area Range 1148 - 1832 Sqft, Located at Whitefield, Bangalore available with 2BHK Apartments and 3BHK Apartments.


Mahaveer Tranquil’s has been designed to offer an environment of perfect luxury, enshrouded in a unique ambience of peace and harmony lavishly spread over acres of undisturbed greenery. Located behind Vydehi Hospital – whitefield, the project is taking shape in such a way that every brick will enlighten your imagination…

Common Amenities

A magnificent swimming pool along with a Toddlers Pool.
Multipurpose Hall.
Children's play area.
A well equipped gymnasium.
Club House.
Jacuzzi & Steam.
Tennis court.
Squash Court.
Library (Provision).


Wednesday, March 26, 2014

Mahaveer Zephyr Apartments Located at Bannerghatta Road, Bangalore available with 2BHK and 3BHK Apartments.

Mahaveer Zephyr Apartments Area Range 1031 - 1618 sq.ft. Located at Bannerghatta Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.


Apartments that have enough space to just lie down and gaze with unabashed admiration at the twinkling stars on the azure skys… If you ever wished reveling in the city closest to your heart, touched by the nostalgia of your childhood…Live in it to experience a whole new life of freshness. Pristine, unpopulated away from the hustle bustle of city yet close to its best nuances.

Common Amenities

•     Multipurpose Hall.
•     Pre party hall with lobby
•     A well equipped gymnasium with lobby
•     Jacuzzi with change rooms.
•     Indoor games.


Tuesday, March 25, 2014



The concept of apartments is of recent origin in Bangalore, and first apartments were constructed in Malleswaram an extension known for bungalows with vast open space and gardens. 

Apartments have certain special features like owners owning undivided share of the land, sharing facilities payment of maintenance charges, which necessitated separate statute.

The State of Maharashtra was first to enact “Maharashtra Apartment Ownership Act 1970, which came into force from February 19, 1971.

Karnataka Apartment Ownership Act, 1972 was first published in Karnataka Gazette extraordinary on 23.07.1973, and came into force from 01.04.1975.

Apartment, Flat and Building etc.

Apartment is defined in Karnataka Apartment Ownership Act as “a part of the property intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floor ( or parts thereof) in a building intended to be used for residential purposes and with a direct exit to a public street, road or highway or to a common area leading to such street, road or highway.

Flat, according to Flat Ownership Act is a separate and self contained set of premises used, intended to be used for residence or office, or showroom or shops or go down (includes a garage) the premises forming a part of a building.

A building contains four or more apartments or two or more buildings each containing two or more apartments with a total four or more apartments of all such buildings and comprising a part of the property

Common areas and facilities

The unique feature of apartments is common areas and facilities, which is common to all owners, have to be shared with others and none will have absolute ownership over them.  This includes the land on which building is constructed, the foundation, columns girders, beams, supports, main works, roof halls, corridors, lobbies, stairs, stairways, fire escapes, entrances and exits of the building, basement, cellars, yards, gardens, parking areas, storage spaces, the premises for lodging of janitors, persons employed for management of property, installations of central services like power, light, gas, hot and cold water, heating, refrigeration, air conditioning, incinerating, elevators, tanks, pumps, motor fans, compressors, ducts, and in general all apparatus and installations existing for any common use.  Further, community and commercial facilities and all other parts of the property necessary or convenient to its existence, maintenance, safety or normally in common use.  However, all such common areas and facilities have to be mentioned in deed of declaration to be registered with the jurisdictional sub-registrar.

When there are common areas and facilities expenditures is required to maintain, to upkeep them. The expenses towards maintenance and upkeep of common areas and facilities are common expenses or maintenance charges, which has to shared by all apartment owners, based on the area of their apartments common expenses means “all sums lawfully assessed against the apartment owner” by the Association of apartment owners expenses of administration, maintenance, repair or replacement of common areas and facilities, expenses and expenses agreed as common expenses in byelaws.

Every apartment owner has to share the common expenses based on the super built area of his apartment and has to be paid periodically.

Any unpaid common expenses shall constitute a charge on such apartment, except charge if any on apartment for payment of government and municipal taxes and all sums unpaid on first mortgage of the apartment as per section 19 of the Act.

As the common expenses are shared there cannot be any loss but chances of surplus funds are there, which is common profits.  Common profits means balance of all income, rents, profits, and revenues from common areas and facilities remaining after deduction common expenses.


Like various commonly used words having different meaning the property also had distinct meaning as the Act.  This includes land, building all improvements and structures thereon, allowed in freehold or held on lease or as a occupant under any law relating to land revenue and all easements, rights, appurtenances belong thereto and all articles of personal property intended to use in connection with which have been or intended to be submitted to the provisions of Act.

Deed of declaration

If any apartment owner wants to be governed buy the provisions of this Act, he shall execute a deed of declaration of apartment under this Act, which has to be registered with jurisdictional sub registrar. Deed of Apartment contains, description of land on which the building is constructed, whether the land is freehold or leasehold, complete description of building, mentioning the number of floors, basement number of apartments and principle materials of which it is constructed, number of each apartment, location, area, number of rooms, immediate common area to which it has access and any other data relevant for proper identification, description of common areas and facilities, value of the property, each apartment, percentage of undivided interest in common areas and facilities for each apartment, name of the owner, voting rights, use of each apartment.

Separate assessment

Each apartment with its percentage of undivided interest in the land, common areas facilities will be deemed as separate property for assessment of tax on land and building.

Status of apartments

Each apartment together with its undivided interest in land, common areas constitute a heritable and transferable immovable property.  Accordingly the apartment owners may transfer his apartment with its undivided interest in land, common areas, facilities by way of sale, mortgage, lease, gift, exchange in any other manner, may also make bequest of the same under law applicable to transfer and succession of immovable property.

LGCL LUMINAIRE Villas Area Range 2879 - 3429 sq.ft., Located at Old Airport Road, Bangalore available with 4BHK Villas.


LGCL Luminaire is a 4-acre enclave, inspired by the Palm Villas in the Middle East, with just 72 luxurious villas on Old Airport Road. WIth its swaying palms, arched spaces with sloped roofs and burnt clay tiles, LGCL Luminaire is an oasis right in the middle of the city!

Just a stone's throw away from Indiranagar, these villas ranging from 2554 sqft to 3554 sqft, have everything that is rare in the city centre; stretches of greenery, fresh air, serenity, premium specifications and a host of modern amenities like private gardens and independent terraces. It boasts of a 12600 sqft clubhouse that consists of a well-equipped gymnasium, a billiards room, a squash court, an entertainment room, a business centre, a well-stocked library and a world-class spa.

Within a 2 Km radius of LGCL Luminaire, you have a golf course, a world-class hospital, top notch IT parks and the Central Business District. Located in the heart of the city, a home at LGCL Luminaire will find it's place in your heart.


Integrated play area
Multi-purpose game zone
Winding forest walk
Entry bay
Aqua scape
Club house 
(Gym, Squash court, Swimming pool, Spa, Billiards, Miniplex, Business centre)


Monday, March 24, 2014

SKC Tulip Multistorey Apartments Area Range 1137 - 1226 sq.ft., Location Kengeri,Bangalore, Bed Rooms 2BHK Apartments and 3BHK Apartments

SKC Tulip Multistorey Apartments Area Range 1137 - 1226 sq.ft., Location Kengeri,Bangalore, Bed Rooms 2BHK Apartments and 3BHK Apartments


Sri Krishna Constructions (India) Pvt. Ltd., the promoters of the project are in the business of real estate development for over a decade. The group has successfully developed and launched projects in various parts of Bangalore. The core strength of the group is to deliver high quality projects at a reasonable cost thereby benefiting the consumer.

SKC Tulip, is a premium apartment project in the group’s flagship project, SKC White Meadows situated at kengeri satellite town which is just off the Mysore road. The Project is just a km away from Kengeri Ring Road, Mysore Road and Kengeri Metro Station. The Project is also adjoining to NICE Road on Mysore Road. SKC Tulip, is an BBMP approved apartment project with latest amenities and facilities that shall make you and your family proud of owning a home in the best neighborhood at Kengeri.

Life’s a Fiesta, spread over acres of pride at the SKC White Meadows campus, SKC Tulip comprises of premium 2 BHK and 3 BHK Living Spaces that are 100 % vastu compliant. The campus comes with lots of open space, landscaped gardens, boulevard, water fountain, children’s park, amphitheatre, club house and swimming pool.


8 passenger lift.
Rain Water Harvesting.
Clubhouse with Swimming pool.
24/7 Security.


Saturday, March 22, 2014

Senart Citys Avantikaa Multistorey Apartments Area Range 1178 - 1509 sq.ft., Located at Sarjapur Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.

Senart Citys Avantikaa Multistorey Apartments Area Range 1178 - 1509 sq.ft., Located at Sarjapur Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.

Senart City's Avantikaa, a prized 2 & 3 Bedroom spacious apartments, promises a well-comforting life. It is a 90 apartment tower on a 60000 Sq Ft land with 75% of open area facing a large swimming pool & deck with all the apartments poised to get 100% natural sunlight and air with each floor containing only 9 units of 2 & 3 BHK apartments along with basement car park facility. Built for those who value a quality living. This BMRDA approved apartments comes with an array of amenities for a joyful life. What's more, the clubhouse comes with facilities like fully equipped gym, indoor sports facility room and shuttle court/mini party area.

Besides it is located close to Bangalore's major commercial hubs Marathalli-Sarjapur IT corridor & yet keeps you away from the noise, the dust & the pollution. The icing on the cake will probably be the price. Avantikaa is highly affordable in comparison to other projects in & around Bangalore. So welcome to your new home.


Friday, March 21, 2014

Manar Pureearth Villas Area Range 1675 - 2316 sq.ft., Located at Sarjapur, Bangalore available with 3BHK Villas and 4BHK Villas.

Manar Pureearth Villas Area Range 1675 - 2316 sq.ft., Located at Sarjapur, Bangalore available with 3BHK Villas and 4BHK Villas.

Imagine living in an earth that is heavenly, natural and a manifestation of purity, right in the midst of a concrete jungle like Bangalore. That’s what Pureearth is, a piece of a paradise. It is a place where earth is true to you and offers you the opportunity to go back to earth and live among its splendour.

Experience this joy of living in the serene land of purity and nature at Manar’s Pure earth which has 200 exclusive villas located at Sarjapur. Just like the pure happiness of a child walking on rain-soaked mud for the first time, playing with it endlessly. Pure earth brings you the happiness which is timeless and cherished forever. Discover the delightful essence in living amidst unparalleled beauty of nature, in the wide open spaces, in the pure greenery, and in the fresh cool breeze. Relax and unwind at home nestled by pure earth. Spending quality time with your family and hearing the joyful laughter of your children would not be just on a vacation now. Live with this happiness every day, throughout your life. Find joy in what truly matters

Pureearth is a place where modernity seamlessly blends into nature to create an easier and smoother life with ultramodern recreational places and important conveniences, Pureearth promises you a better life.

Entrance Plaza
Water Feauture
Amphi theatre
Childrens Play area
Bamboo walk
Multipurpose Lawan
Elders Jogging Track
Excersise station
Basket Ball Court
Tot Lot
Club house Arcadia
Swimming pool
tennis court
party lawn