Wednesday, April 30, 2014

2BHK & 3BHK Luxury Residential Flats for sale off Kanakapura Road, Bangalore at Liberty Square.

Liberty Square Multistorey Apartments Area Range 1250 - 2155 sq.ft., Located at Kanakpura Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.

Style, luxury, and elegance are the pinnacle of design for Liberty Square at Providence. Located in exciting Las Vegas, NV, we are close to all that city life has to offer while still providing the opportunity of a serene atmosphere. Come by and imagine yourself enjoying the sun around our shimmering swimming pool and spa. Spend time with friends and loved ones at our contemporary clubhouse with a plasma-screen TV. Our apartment homes come with Energy Star appliances for efficient electricity use including washer and dryer. Call us today and schedule your private tour to see why Liberty Square at Providence is the perfect place for you to call home!


Community Amenities
Access to Providence Jogging Trails, Parks with Playgrounds, Athletic Fields, and More
Beautiful Views of the Mountains and City
Business Center with PC, Printer, Fax and Wi-Fi Internet Access
Contemporary Clubroom with Kitchen, Plasma TV and DVD Player and Wi-Fi
Emergency Maintenance
Fully Equipped Fitness Center with individual TV's and towel service
Outdoor Fireside Lounge
Picnic Area with Barbecue Grills
Private Pool and Spa Featuring Wi-Fi Access and Cabanas
Quick Access to I-95/215

NHB lightens lending Norms

The National Housing Bank(NHB)India's housing regulator has proposed new and tougher landing norms governing housing finance companies. This tightening move will impact home loan seekers across segments.

NHB has mandated that housing finance firms make greater provisions for loans extended to companies and builders while at the same time, limiting the amount a person can borrow against property.

The new rule require housing finance companies to provision, or keep aside, 0.4% of the total outstanding loans by September 2011. This would apply to all loans other than individual housing loans. National Housing Bank Chairman and Managing Director, R. V. Verma said that the regulator wants the housing finance firms to build up adequate capital reserves for the segment, which can be very volatile and prone to risk.

The new norms also limit the amount a person can borrow against property to 90% when the value of the property is less than Rs.20 Lakhs. earlier there was no limit no such loans because they were classified as the priority sector. All other loans against property have been capped at 80% ofthe property's value.
NHB is of the view that since this segment is very competitive, some lenders were tempted to extend up to 100% loan against property. Such loans have the potential to impact the balance sheet of a lender in the long run.

The norms also mandate a risk weight of 12.5% for new home loans above Rs.75 lakh. This implies that for every rupees lent, lenders would have to keep aside Rs.l.25.

Verma, justified this by informing that most of the developed economies have similar guidelines for housing finance companies.

The regulator has also directed housing finance companies to maintain a 2% provision on teaser loans. This includes any other loan with special rates, where the interest rate is low in the first few years.

Anil Sachidanand, CEO of Dewan Housing Finance acknowledging the new norms to be positive said, these steps which will help in ensuring a level playing field in the industry.

The housing finance firm has less than 2% exposure towards builders or corporate. Sachidanand is of the view that the cap could have been lowered to around 80% for loans less that Rs.20 lakh for that would ensure that borrowers have to pay more from their side and encourage savings.

Bangalore properties like Apartments / Villas / Plots / Independent Houses ....
Real Estate Properties are available in Bangalore City.......
Bannerghatta Road

Tuesday, April 29, 2014

ND Passion Elite Located at Harlur Main Road (Off Sarjapur Road), Bangalore 3BHK & 4BHK Apartments for sale.

ND Passion Elite Apartments Area Range : 1330 to 2880 sq ft., Located at Harlur Main Road (Off Sarjapur Road), Bangalore 3BHK Apartments & 4BHK Apartments.


For those who prefer to inhabit in a privileged world, the address has finally arrived. Experience the wonderful balance of architecture, design features and aesthetics at N.D. Passion Elite. A panoramic sweep of luxury condominiums on Harlur Main Road (off Sarjapur Road), created with passion and inspired by you. The built-up area occupies only 28% of the total 3 acres affording abundant lung spaces. Vehicular access is restricted to the project periphery allowing residents to safely traverse the community areas. Ample basement and stilt level parking decongest the surface of the site. N.D. Passion Elite comprises of 5 blocks with basement + stilt + 8 upper floors featuring 3 / 4 Bedroom apartments and 4 Bedroom penthouses.

Area: 3 Acres
Number of Flats: 147
Number of Bedrooms: Three & Four

The impact of global recession is far reaching. It has brought slump in the stocks and shares market, lost employment opportunities to a large segment of people, there is collapse of software industry, insecurity of employment in I.T. industry, lesser purchasing power on account of reduction in wages, strict vigil and restrictions in the lending activities by banks and financial institutions, slump in real estate market and so on. 

Because of the global economic recession all the fly by night operators who were instrumental in the artificial rise in the price of properties in Bangalore regions have disappeared from the scene and only the reputed property developers are left in the field.

Present trend in real estate market The purchasing power of a large number of I.T. employees has come down to its lowest level because of under-employment or unemployment in the I. T. sector, and there is no demand for properties from this category of people. Even the persons who have made some investment in real estate are trying to wriggle out of such property dealings.

This unprecedented development has put the property developers in a fix. They are compelled to sell their properties at lesser price than the rates at which they had originally quoted. The property developers have to pay principal and interest on the money borrowed in addition to other liabilities. To save themselves from this situation, the property developers have now started offering discounts ranging between 20 to 30 per cent on their quoted prices and also freebies to allure the prospective buyers.

Prior to global recession, the property developers were dictating the terms to the purchasers. The Investment purchasers were at the mercy of flying property developers and had to line with the terms and conditions of the developers. Not only this,  the developers were unavailable for discussion and negotiations for the purchasers and the purchasers had to be satisfied by holding discussions with the marketing staff of developers.

Now, the trend is the other way round. Developers do wait for the purchasers, treat them with respect and entertain them with good hospitality so that at least they could market few of their apartments to meet their ever increasing expenditure. In order to save the real estate sector from collapsing, the Reserve to globalization and the swift development of Information Technology in India, many international companies have set up their offices in major metros and also have started looking at India for their specialized service in this technological field. Thus employment opportunities in the country grew up considerably. To keep up the time schedule and prompt execution of work, these Indian organizations have started encouraging the technocrats and other staff with best pay pockets.

The growth of Bangalore regions as the International Information Technology Hub has attracted a large number of people not only the Indians residing within the country but also the foreign nationals. Thus, the purchasing power of a large number of youngsters have gone up very steeply who have started searching for safe and secure investment routes.

Bank of India has directed the commercial banks to grant housing loans at the reduced rate of interest which is around 8 per cent per annum. Dull Market Despite this, the people are still not persuaded and are awaiting for further reduction in the value of properties. Not only the developers are finding it difficult to market their apartments, even the individual property owners who desire to dispose of their property are finding it difficult to get prospective buyers. Only the individual owners who are in dire need of money and who are left with no option but sell their property are selling their properties by offering discounts ranging between 20 to 40 per cent of the market price.

Presently, supply is more than the demand as for as real estate market is concerned. Effect of globalization Prior to the year 2000, the real estate scenario in Bangalore 5 regions was totally different and the property dealings were very nominal. But due policies, mutual funds have become unattractive due to lesser return on investment and because of failure of many companies while the stock market is found to be unpredictable and volatile. Moreover, these investment avenues are for short-term which need close monitoring requiring the services of specialized investment advisors though the investment could be small. This leaves us to consider the option of investment in real estate

The desire of a large number of IT. young personnel to own a roof over the head at the early stages of life with high purchasing power and the migration of rural people to Bangalore in search of assured income jobs has increased the demand for properties in Bangalore considerably. Added to this, the incentive given by the Union Government by way of exemption of the interest paid upto Rs.1,50,0001- on the housing loan from the tax net in addition to other already available incentives and exemptions also Investment options Investment options are many. 

But the investor should be prudent and select a proper sector which is safe and secure with assured reasonable return. Earlier, bank deposits, stocks, mutual fund, insurance policies and bullion were the preferred options. But now, Bank deposits, insurance motivated these high salaried people to concentrate on investment in real estate. Real estate sector The investment in real estate is high yielding and a long term.

Bangalore properties like Apartments / Villas / Plots / Independent Houses ....
Real Estate Properties are available in Bangalore City.......
Bannerghatta Road

Monday, April 28, 2014


An article From Advocates about Maintenance of Apartments 

The trend for the high rise buildings in Bangalore started during late eighties when the builders from Bombay launched. Building projects in Bangalore. The attraction was rapid  growth of Bangalore between 1971-81 which was the highest in Asia in addition to the salubrious climate, beauty,(this is almost lost today) cheaper land and higher F A R permissible compared to Bombay and the hospitable citizens of Bangalore. Rahejas, Ranka, embassy, mittal, Bhaktavar are some of the builders who started their activities in Bangalore during that time Local entrepreneurs also started building activity like .Prestige, India Builders and others. Their intention was to make most of the situation.

Due to enormous potential for building activity, hundreds of building activity, hundreds of apartments and considerable number of commercial complexes had come up in Bangalore. Those who lived in flats were mostly outsiders. Local people even now like to have independent house.

To enable regulation of apartments, the following two acts were passed in Karnataka on the lines of Mumbai acts.

1 Karnataka ownership Act, 1972, 2 Karnataka Ownership flats (Regulation of the Promotion of construction, sale management and transfer) Act, 1972.Even now majority of the apartment dwellers are not aware of these acts, and rules issued under these acts, which came into force from 2.04.1975 No one is following these ACTS.In Bangalore the Co-operative Housing Societies or the Owners Associations are being followed the choice being left to the group of buyers of flats.

Most of the Co-operative societies were registered under the Co-operative Societies Act.

Associations are registered under the Karnataka societies Registration Act, 1960. In Mumbai a group of persons form a housing society, mobilize funds, purchase land, build apartment, live in the apartment and maintain the building. Where as in Bangalore, builders build the apartment sell the flats during construction and later. The buyers form apartment Housing Society Owners association for only maintenance purposes. The builders register the flats in favour of the buyers. Later transaction is between the owner of the flat and the subsequent buyer. The seller relinquishes his membership in the Society / Association and the buyers become a member of the Society / Association.

Bye laws:

After registration, the Apartment Society frames its bye laws and gets it approved from the Co-operative Department or under society act. The byelaws should be in accordance with the Act and provisions. The byelaws provide for election of Committee and office bearers for management of the society Elections to the committee in case of housing Co-op Society are conducted by the Returning Officer appointed by the co-operative Department as per procedure. In the case of Association or Society the General Body elects the office bearers. Byelaws provides for membership. General Body Meeting, Special General Body Meeting.

Committee, powers of the committee, accounts & audit and in general management of the Housing Society or Association. The Department of Co-operative approves the Byelaws and returns to the Society for following the provisions.In case of an Association, the Registrar of Societies along with the Memorandum approves Rules and Regulations of the Owners Association.

Services Rendered:

The services provided by the society / Association are water supply, general lighting, lifts, security, cleaning of the premises, garbage removal, gardening, colour washing, periodical painting, civil works repairs, water supply and drainage repairs, electrical repairs etc. As there is power shortage in the state with power cut twice a day, generator service for lift, common area lighting,and pumping of water is provided in some buildings. Intercom facilities from the flats to the security area is also provided in some buildings, club, health club, swimming pool, dish antenna & library facilities are provided in luxury apartments. Some societies also organize social activities for the benefit of residents


a. Security: Security arrangements are made through a security agency or by appointing security personnel directly by the Society! Association. Two or Three shifts are arranged to the convenience. The security personnel are also entrusted with the water pumping duties to maintain water supply throughout the day from borewell and B.W.S.S.B. water, responsibility of common area lighting, reporting in case of lift problem etc., is also entrusted to the security-men. Collection of milk at security gate is also entrusted to the security men. For additional income, the security men clean the vehicles of the occupants during their off period. They also get tips when they help the occupants for odd jobs. Occupants help useful security men with food, clothes, tips loan etc. the security men are also used to send messages and letters by the occupants.

b. Sweeper: Sweeper is entrusted with removal of garbage baskets from the doors of flats, which are dumped on the roadside garbage bins, or other arrangement to clean the garbage. They sweep the common area and are supposed to maintain the premises clean. They are also useful for odd jobs of the occupants

c. Gardeners: Gardeners maintain the plants and lawn where garden is maintained. In case of only a few plants frequent supervision by a gardener or watering of plants by the sweeper is arranged.

d. Plumber / Electrician: The services of a plumber are arranged in some apartments! complexes for one or two hours fixed according to convenience. He will help in. replacement of washers in taps and stoppage of minor leaks. Similarly services of an electrician, or a plumber-cum- electrician service is arranged.

e. Secretary / Manager: A paid Secretary in case of an apartment Society / or a Manager in case of commercial complexes is employed. His duty is to send maintenance bills to the occupants, collect maintenance charges, maintain accounts, supervise the work of security men, sweeper, gardener, plumber, and electrician and provide liaison between the occupants and the office bearers. He will also arrange for maintenance repairs and replacements. He will assist in the conduct of meetings, payment of water and electricity bills, and correspondence. Good maintenance depends of an effective and useful Secretary Manager.

Maintenance Charges: Maintenance charges fixed to cover the routine charges like salaries, water and electricity bills, minor repairs, correspondence, overheads, and extra amount to maintain a development fund to meet major repairs like replacement of motors and pumps, water supply and drainage arrangement, replacement of bore well pipes, replacement of water proof course, replacing electrical wiring system etc. Fixation of maintenance subject, which attracts arguments between the office bearers and the occupants. In some cases additional resources are generated by leasing additional parking spaces, advertisement hoardings, S.T.D. booths etc. transfer or N.O.C fee is also collected whenever, there is resale of flat office on its / shops. 

Good management enables availability of adequate funds of good maintenance and major repairs. Occupants should elect service minded officer bearers in their own interest for good facilities and living environment. Absentee land lords:Normally 10% or more flats in apartments of Bangalore are owned by outsiders from Bombay, Calcutta, Hyderabad and other places in India as well as from abroad. The percentage being more in the apartments of Cantonment, Central areas, and Bangalore south. Nowadays apartment constructions has spread all over Bangalore including out skirts. 

Myhna-Heights Apartments Area Range 1075 - 1737 Sq.ft, 2BHK, 2.5BHK and 3BHK Apartments Located in Marthahalli, Bangalore.

Built to add to your lifestyle, Myhna Heights is a complete ensemble of home and leisure rolled up in one. For instance, the very entry itself is designed to be grand. Impressive and elegant, the road to everything else will be a discovery. Because inside the fence of Myhna Heights, there’s more to discover at every step. More that compliments your life and style.

Swimming Pool
Toddlers Pool
Multipurpose Hall
Health Club
A/C Gym
Jogging Track
Children's Play Area
Strategic Location
Premium Quality Construction
100% Vasthu
Excellent Ventilation

Bangalore properties like Apartments / Villas / Plots / Independent Houses ....
Real Estate Properties are available in Bangalore City.......
Bannerghatta Road