Saturday, September 7, 2013

Frank talk on Housing sector bangalore 5


In order to gain the benefit of 100 per cent income tax rebate under Sec.80-IB(10) of the Income-Tax Act,1961 in respect of the profits and gains arising from the business undertakings developing housing projects, a large number of builders have speed up their construction activities throughout the country including Bangalore. But the demand for apartments in and around Bangalore has not gone up as expected mainly for the reason that the overhead expenses in respect of purchase of an apartment would come to more than 25% of the total cost. 

The over- head expenses would, inter alia, include revision of registration charges and stamp duty, corpus deposit, stamp duty on mortgage loan, fluctuations in lending rates on housing loan by Banks, charges for car parking, service tax and the like. This has forced the intending buyers to make suitable adjustments in their financial planning and 
strategies. 

Granting incentives to builders on Housing projects is definitely a welcome move. But, at the same time, the cost of an apartment/house should be within the reach of a commonman Government should have formulated the scheme in such a way that the benefit of incentive could percolate downwards and not to fatten the purses of rich builders. 

Government may, at least, stabilize lending rates on house construction/purchase, remove stamp duty on mortgage loans and increase income-tax rebate on investment in construction/purchase of house/apartment by individuals and other intending investors. - Editor

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Friday, September 6, 2013

Advocate Selvakumar RER Frank talk on Land conversion


The Government of Karnataka has put ban on conversion of land from agriculture to non-agriculture and approval of layouts till the end of December,2006, for formulating a master plan for six zones around Bangalore viz., Nelamangala, Magadi, Kanakapura, Anekal, Hoskote, Ramnagar and Channapatna by BMRDA. This means that if a real estate developer wants land acre around Bangalore, he has to wait at least till the end of December, 2006, as BMRDA hopes to complete the task by this time. 

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Though planned development of city's suburbs is welcome, the moot point is whether the BMRDA would be able to complete the project within the stipulated period. 

If analysed on the basis of the progress of BMIC project, the answer would be in the negative. Thus, there would be no land development activity in the areas noted above for a considerable time. 

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Government of Karnataka has already spent crores of rupees on Out-line Development Plan, comprehensive Development Plan, Structural Plan and BIAAPA Area Plan. When Government has already got several plans at its hands, without meticulously analyzing and implementing these plans, Government ought not to have gone in for a new Master Plan. 

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The Government has probably failed to notice the financial loss due to banning on conversion of lands till end of December, 2006 and the expenditure involved in the completion of this new task. In addition, the land developers who have invested their huge money on lands may knock the doors of courts or may move out of the State because of the ban. 

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It is suggested that whenever any such far reaching decisions are taken, involvement of all the concerned and affected would help the project in its successful implementation. 

Thursday, September 5, 2013

Legal advices and property matters...

Sri. S.M. Krishna, Chief Minister of Karnataka, who is also in charge offinance presented the budget proposals on 21'1 march 2003. Budget follows the usual trodden path, taxing what is left but in the central budget.
Middle class has to bear the burden with the imposition of APMC cess, and tax on power bills. Flat purchasers are worst hit.

Though reduction in stamp duty and registration charges are welcome, continuation of additional stamp duty on behalf of local bodies in the form of cess will continue to be a burden. The removal of slab system and introduction of uniform 8% of the stamp duty on purchase of flats is burden to middle class who purchase economy budget flats. The burden is more on small budget flats, which tapers at the higher end.
The following table shows the increase of the Flat First Registration:

Value of flat
Present
Revised
Difference
(% in brackets)
3,00.000
18,300
34,200
15,900



(86.88%)
5,00.000
32.600
57,000
24,400



(74.84%)
10,00.000
84,100
1,14,000
29,900



(35.55%)
18,00,000
1,83,300
2,05,200
21,900



(11.94%)























The middle classes, because of paucity of funds generally prefer low budget flats. Flats optimize the land use and provide safety and security. In a single stroke, the state government has negated the various tax sops, progressive measures of central government to make housing affordable. 

In contrast the upper class, builders, promoters are rewarded by reducing the stamp duty on developmental agreements and general power of attorney for land development to Rs. 1000/- from the present 2% and 4% of market value. Taxing the end users will definitely effect the real estate sector adversely, particularly multiple housing projects, which are slowly gaining ground. Will the government think for a while? 


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Wednesday, September 4, 2013

bangalore 5 services with the taken from RER...


          Housing is a social cause. The government should endeavour to provide shelter to everyone. In vast country like India, government alone  cannot attend to this and may take many decades to achieve this goal. To hasten the process government should at least facilitate the housing construction, by establishing separate agencies, making available required material at concessional rate, and by tax sops to encourage builders. 

          The establishment of the National Housing Bank is a landmark in this direction, which was followed by formation of many housing finance companies. Some of the scheduled commercial banks floated subsidiaries exclusively to finance housing. Reserve Bank of India advised the banks to earmark 3% of their incremental deposits to the housing finance. These institutions have played a remarkable role in the property industry. 

          Reserve Bank of India, acted as a catalyst by pursuing the soft interest regime which has further accelerated the housing finance with reduced interest rates. Government of India became pro active by increasing the tax benefits on housing loans. These, coupled with intensive campaign have made everyone aware of the importance of the housing. Increased savings in tax payment have helped many people to divert such savings towards loan repayment. 

          At present housing finance is buoyant. In fact, when all other sector were plagued by recession, housing sector became saviour of the commercial banks and also economy of the country. 

          Many industries depend on housing sector. Major chunk of the labour force, especially from weaker class depend on construction industry to earn their bread, But there is a threat looming large in the form of Kelkar Committee Report. The committee has proposed to restrict interest exemption up to 50,000 on loan amount of Rs. 5,00,000 and no exemption at all above 5,00,000.

          Real need of the day is to remove the ceiling of Rs. 1,50 lakhs of the loan interest exemption on the capital borrowed to acquire a house for self occupation, but not to reduce it. The proposals of Kelkar committee, if accepted would only dampen the enthusiastic borrower and would adversely effect the housing sector. 

          Property industry is eagerly awaiting the outcome with crossed fingers with a hope that the government of India will not accept the recommendations of Kelkar committee, but will further increase the existing tax benefits to the property industry. 

          Housing finance companies should also come out with innovative schemes and increase the repayment period to 30 years, so that the people living in rented houses own houses and pay EMI instead of rents. 


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Tuesday, September 3, 2013

Bangalore 5 Fung Shui services

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               The art of science of Feng shui is increasingly gaining recognition among real estate professionals and even in town planning, and is closely related to the practice of Vaastu. It is basically a tool to harmonize and align the dwelling place and is concerned with the flow of 'Chi' the Chinese term for movement of energy, in order to release blocked energy which may have an effect in the corresponding areas of our lives. Nowadays, Feng shui is known to maintain the value of real estate holdings and even in countries like the USA and Canada, buyers often prefer a property that has been approved by a Fengshui expert.

                Fengshui gives importance and relevance to the five elements of water, wood, fire, earth and metal. It focuses on aligning the general layout of the dwelling and creating a balance in order to enhance the flow of Chi. It seeks to do this through the strategic placing of doors, windows, furniture, cots and stove. In addition, factors such as ventilation, the source of water and levels of the land must be in the right order so that the right place, approach and tuning can be achieved. 

                Nowadays there are many self- styled experts on Vaasthu and Fengshui who have distorted their use through offers like 'single window' services, often lumping it together with gemology, astrology and numerology. It has become non- functional because of the wrong advice imparted by such folk to clients. One must also remember that there is no dwelling which can be described as being 100% Vaasthu or Fengshui perfect. It certainly does not offer a remedy for controlling the force of birth of death, but rather improves our capacity to think and function better. 

                In Singapore, the town has been planned in keeping with the Fengshui texts known as the 'secrets of the 5 dragons,' that involve mountains, water resources and the movement of traffic as mean of creating prosperity for the country. In Taiwan and Malaysia, services of Fengshui experts are often used to assess the value of the property and to increase its worth before offering it to prospective buyers. Fengshui services are included in the offer of a single window service by The Appraisal Institute of Canada. Some great international corporations such as the Chase Manhattan Bank, Citibank and Morgan Guaranty trust in Hong Kong and Taiwan do not hesitate to employ experts in this art for the help. 

                From the perspective of Fengshui, a house is not just a physical structure but is an entity that can either nurture your life or undermine it. It believes that the flow of Chi is what really decides the value of your property. People are automatically attracted to a home that has an abundance of positively flowing chi. There is a distinct relationship between the value of a property and good Fengshui. Homes with good Chi often command high prices in any neighborhood. Those homes that sit on the market longest are the ones in which energy is blocked and stagnant.

                Earlier it was considered ideal for a home to have the famous Chinese green dragon-white tiger design in it. This means that there should be certain levels in the house, e.g. the back should be higher than the front and the right side should be lower than the left. This was supposed to protect the centre of the house and was known as the armchair design. Since it is difficult to create such levels in modern day life and as we cannot control the shapes of neighboring buildings, one could adapt the method by planting trees or using lights mounted on poles to create a higher back effect in a house. 

                Some guidelines are available to ensure that your house is in harmony with the principles of Fengshui. One could explore the area to see if the design is harmonious and has a sense of beauty. Environmental pollution, the condition of sewage drains and the presence of high tension wires etc., could be noted. The appearance of the front door of the house is important. A front door has the ability to either welcome you or drive you away. Opportunities are supposed to enter through it and it should convey a feeling of pride. 

                Another important thing to note is the feel and smell of the house. Is there a light and airy feeling or a dark and ominous effect? If it is situated on a blind alley, the flow will be blocked and will have no outlet. You must also see whether the house is situated at a T-junction or a cross road. You should also walk around and examine the houses foundation, as it will eventually decide your life experiences. It should be solid without any cracks. Symmetrical shapes are ideal and offsets and angles should be avoided as they indicate fragmentation. 
A road is said to conduct CHI energy throughout the environment and traffic movements. It is not good to live near highways and busy roads. Neither is it considered healthy to be situated at the end of a road or at a T junction. In this case, putting up a hedge of healthy green plants would act as a shield. On the other hand you could reposition the door or put up a porch. Another method is to use mirrors, but one has to be careful of danger to oncoming vehicles at night. 

                Buildings which are at an eye- level with or under a flyover are not good as the home is likely to feel drained of energy and oppressed. If the flyover appears to bend and cut through the building it is particularly harmful and one way to avoid this is to use dark glasses on the window panes. Another method to overcome the overpowering effect of the flyover is to put up the lights at the four comers of the house, focused towards the lower surface of the flyover. 
A noteworthy feature is whether the garage is detached or not. A detached garage is best as it allows Chi to move around freely. You should also check the ceiling for watermarks and make sure that there are plenty of windows. It is considered inauspicious to have bathrooms and kitchens in the centre. 

                Even if your home is having some basic features which are out of harmony with the guidelines of Fengshui, it can be adapted though it may not be a perfect solution. Homes of this kind are known to exhibit a remarkable change after being corrected through the art of Fengshui. Fengshui seeks to make your dwelling place supportive to its occupants and gives practical ways to adjust yourselves to the surroundings and the environment.

Monday, September 2, 2013

Bangalore 5 property web-portal Garden services...


       Before you have a garden design in place, you must first decide what you are looking for in a garden. If you want your garden to stand out, you must think of a design that looks different. 

Formal approach
       If you are the kind who likes neat edges, straight lines, and trimmed borders, a formal garden may appeal to you. A rectangular lawn with straight flower borders and circular flower beds may be the right choice for you. A straight driveway and a rigid design may just complete this formal look. Everything in this garden is symmetrical with not a hint of anything that's natural. 

       When the plot size is small, it often limits the choice for a natural looking landscape and so the formal look may just be the right choice in that case. A small formal garden with flower beds and roses is still popular among gardeners as it allows them to grow a variety of plants. The design element does not play a major role here.

Courtyard garden
       If space is a major constraint, there is another way out too. Your backyard could be turned into a patch of green. A courtyard garden with floor tiles, green foliage and a shrub or two can have a strong impact even if there are just a few plants. 

Rose garden
       Nothing can beat the rose garden. In terms of colour and beauty, the rose garden offers unlimited choice. There are numerous varieties, colour options and combinations. Care must be taken to see that the beds are edged with seasonal flowers and bulbs. The garden will look bare when the roses are pruned and it's important that there are different kinds of seasonal flower in bloom always. 

Parterres and knot garden
       Parterres consist of a series of shaped beds or compartments that together form a pattern. These are gardens that are designed to be viewed from the upper windows of grand houses. They are expensive, slow to establish and labour intensive. But the final effect can be quite stunning. 

Stone and gravel garden 
       Stones and gravel can be used effectively to create a garden that's 
unique and easy to maintain too. Drought-tolerant plants must be chosen to see that they don't wilt in summer. The choice of plants is, therefore, limited in a rock garden. A large rock or boulder can be used as a focal point and a variety of plants can be grown in groups. 

       Choose a design that appeals to you, get the right plants, and you can start your garden. As long as you know what you want, it does not matter how exotic the design theme is. With plants that are chosen to suit the climate and landscape, it's easy to achieve the garden you have planned. Not only this, greenery around us leads to the advantages of anti- pollution, environment friendly measures which gives us oxygen-rich air to breathe in, where health.

       Benefits for the body and cosmetic benefit for healthy and glowing skin also integrated. Lots of ways are there to green small spaces and if you live in a small space and have a small home and no sprawling garden, what you need is little imagination and effort to have the pleasure of greenery. 

       If a tiny ground is fronting your home, create a small patch of green by filling it with fertile soil and planting a few plants which won't grow into large trees requiring big space. There are plenty of potted plants ju t ideal for tiny spaces, where you can create a small garden in your balcony or terrace. A small sculpture in an affordable material placed in between the plants looks attractive. A floor lamp will also enhance the space. You can also hang lantern above the plants from the ceiling. If you have a tiny backyard, you can add a series of grooves with plants there. 

       If you feel you don't have the space or time to tend a set of plants, then just add one simple creeper or plant in a small comer with a small sculpture in the niche above it and a small and elegant overhead lamp or with a painting hanging on the wall above and this will also make for a pleasant green comer. If your lifestyle necessitates long stay away from home and absolutely no access to green plants, there are some plants which can do without watering for long periods of time and also use dried flowers and ferns in a small corner for similar effects. 

       When there is absolutely no space on the floor or balcony, then the window sill is a good option as a space for placing a few slow- growths, small-size plants. Another option is hanging plants, these can be placed just outside the entrance or in the balcony either overhead or suspended from the railings.

       Another location for greenery in such space-cramped homes would be a study table or a corner of the kitchen counter. Small desktop plants can be requested for these locations. Terrarium is a kind of garden which is a zero-maintenance one once it is installed, and décor object by itself. It is ideal for homes short of space as it is like a small indoor garden by itself. 

       Terrariums are bottle gardens. However, they are not to be confused with plants growing out of a bottle as for e.g., the money plants you see in many homes. Terrariums contain a plant or several small plants, complete with supporting soil all contained within a glass case and growing within this moist enclosed space. Since a clear glass case with lid is an ideal option, you can even use old or discarded aquariums or any wide-mouthed glass pitcher for this, slow growth plants are ideal for terrariums and generally speaking flowering plants are not suitable.

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