Tuesday, March 10, 2015

THE RISKS IN INVESTING IN UNAUTHORIZED LAYOUTS



http://bangalore5.com/BMRDA-Approved-Layouts/
In recent times, Bangalore has witnessed phenomenal growth in population due to various reasons such as pleasant weather conditions, better career opportunities and the like. As a result of this, there has been a rapid increase in the demand for house and house-sites here. In order to cater to this increasing demand, a large number of Developers and Property Dealers have come into picture and have been forming private layouts without following the mandatory procedure and requirement of law making the innocent purchasers to suffer.

To avert this mishap, it is necessary that the intending purchasers of immovable property in Bangalore to have some knowledge about the nature of the property proposed to be purchased by them to save themselves from the risk of investing in the immovable property with no valid and marketable title.

Authorities

There are only two authorities, which have been authorized to approve layouts in and around Bangalore viz., Bangalore Development Authority [B.D.A.] and Bangalore Metropolitan Rural Development Authority [B.M.R.D.A].

While the BDA approves the layout plans for formation of layouts in the lands falling within the metropolitan areas, BMRDA approves layout plans for formation of layout in the lands situated in the outskirts of Bangalore. Getting approval for the land conversion and layout formation from BMRDA is less time consuming, less expensive and easier when compared to procedure laid down by the BDA.

Development Plan

For planned development of a city, proper road network, parks, open space, civic amenities, and a proper approved layout is necessary. BDA is the authority in charge of planning and development to Bangalore Metropolitan Area. Comprehensive Development Plan [CDP] is prepared by BDA under the Karnataka Town and Country Planning Act, 1961.The last CDP was prepared and approved by Government in the year 1995, which is still in force.

Zonal Regulations

In order to promote public health, safety and the general well-being of the community, it is necessary to apply reasonable limitations on the use of land and buildings. This is to ensure that the development of the city takes place in accordance with the land use plan as proposed in the CDP in a most appropriate and healthy manner.

Generally, CDP is valid for a period of 20 years from the date of preparation of the plan. The following are the classification of land uses for various zones:

1.Residential
2.Commercial(retail and whole sale business)
3.Industrial (light and service industries, medium industries and heavy industries)
4.Public and Semi-public Utilities and Services.
5.Parks and Open space and playgrounds (including public recreational area)
6.Transportation and Communication.
7.Green-belt area

Unauthorised Layouts

Sites formed in unauthorized layouts are called Revenue Sites. The lay-outs which are formed without following the mandatory procedure and the requirements of law are called unauthorized layouts and can be classified into two:.

Converted land

In this type of layouts, sites are formed in the lands which are converted from agricultural to non-agricultural residential purpose after obtaining conversion order from the Deputy Commissioner and in conformity with the zonal regulations but without obtaining approved layout plan from the competent authority. Village Panchayats are not competent to approve the lay-out plans.

Agricultural land

In these layouts, sites are formed on the agricultural lands not converted and without obtaining approved layout plan from the competent authority. Purchase of this type of site is very risky as marketable title would not be available to the purchaser.

Sites formed in either of the classification referred to above are called as revenue sites. In such sites, electricity, water, sanitation and civil amenities will not be available to the site owners though providing of these facilities are the mandatory requirements as envisaged under the Karnataka Town Planning Act, 1961.

In formation of sites in these unauthorized layouts, Developers play a key role. In order to achieve maximum saleable area, the width of the road and the space allotted for providing civic amenities would not be as per law. The only intention of the developers in such unauthorized layouts would be to enrich themselves without providing even the basic amenities to the buyers.Purchasing sites formed in the converted land unauthorized layout is comparatively a better option to the one formed in the non-converted agricultural land. However, purchasing sites in unauthorized layouts will not convey valid and marketable title to the transferees.In fact, Bankers even refuse to provide loans for such sites either for the purchase or for putting up construction thereon. Thus, sites in unauthorized layouts are not recommended for purchase.

It is advised that the people who are desirous of purchasing house site may prefer to purchase sites in approved layouts for the reason that water supply, underground drainage, street lights, electricity supply, civic amenities are available in these layouts.

Valid and marketable title are conveyed to the purchasers. Value of sites appreciate considerably. Housing loan facilities can be availed for purchase of site and for construction and above all it is easy to dispose of these sites whenever needed. 

The following types of sites are suggested for purchase:

1.Sites allotted by BDA without lease.
2.Sites allotted by KHB without lease.
3.Sites allotted by Co-operative societies after obtaining approval for formation of layout from BDA or BMRDA along with order of release of sites.

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Monday, March 9, 2015

TIPS ON WHERE AND HOW TO INVEST


http://bangalore5.com


Man does not live only for food, cloth or shelter or for himself. He has certain social responsibilities to provide for his family and also for himself in old age. This naturally makes him save some portion of his earnings and invest in lucrative portfolios. After the basic needs of food, cloth and shelter are fulfilled he strives to improve his standard of living and to enjoy the fruits of hard earned money.

Investment avenues are many. But the investor should be prudent enough to select a proper area, which is safe and secured with assured reasonable returns. Earlier the bank deposits, stocks, mutual fund, insurance policies and bullion were most opted. With increased business, globalization of economy has unfolded many more areas. The investment has become very complex which has led to the emergence of specialized investment advisers.

Bank   deposits,   insurance policies, mutual funds have become unattractive because of low returns and failure of many companies. Stock market is unpredictable and volatile. Moreover, these investment avenues are for short-term which need close monitoring. Further the quantum of investment is generally small.

In recent past real estate has emerged as a safe and high yielding investment opportunity. Investment in real estate is a long-term investment and needs a considerable amount. It is not only financial but also sentimental and emotional investment.

The liberalization initiated by the Government has opened up the hitherto dormant Indian economy and many multinational companies set up their offices in major metros. The improved pay packets of vast middle class population opened many investment routes. The desire to own a roof over their head as early as possible and the migration of rural people to urban centres in search of assured income jobs, further expanded the real estate market.

However, as the demand exceeded supply, many fly by night operators appeared on the stage and indulged in speculation and an artificial price spiral, which resulted in crash of real estate market in latter half of 1990. But now the market has regained its potential. Only serious vendors and endorsers are operating in the market.

The yield in the realty market has to be calculated on the capital invested and annual rental returns less property tax, income tax and annual maintenance charges. This return varies according to the type of property residential, commercial or office space. In Bangalore the returns are about 8% for residential, 12% for office space and 15% for commercial space. There are certain determining factors, which play a crucial part in the property investment.

Where to invest? In other words the location. There is equal demand for all types of space in metropolitan cities and market trends are more transparent on account of competition and frequency of dealings. But smaller towns have potential of increased returns because of dearth of space. Local politics also plays its role in determining the returns in small towns.

Huge Investment: Investment in real estate needs higher amount and the minimum entry level will be in multiples of lakhs say about Rs. 20 lakhs for residential and much more for office and commercial space.

Time factor: The sale of property requires long time for finding a suitable purchaser and for complying with the legal requirements. Further, the appreciation of capital value of the land is slow but certain and stable unlike in stocks and shares.

Local Laws: The realty investment calls for more discretion and involves complicated processes like title verification, land  use according to local laws, floor area ratio, restriction on sale for some period and many more laws, rules depending upon the political environment.

Tax factor: Uncertain tax rules and rates which vary every year need to be considered. Property tax is an annual commitment which is being increased every year by self-assessment or capital based assess¬ment. Rental income also attracts income tax to be paid annually; sale of property attracts capital gains and purchase invites stamp duty and registration charges. Property tax & stamp duty varies from State to State.

Type of property: As stated earlier the type of property is also very important. It may be residential, commercial or office space. The demand and supply position of each sector needs to be carefully examined. Residential property calls for smaller investment. Commercial and office space need higher investment

Type of returns:  Real estate sector offers two types of returns namely:

(i) monthly return in the form of rentals and the returns on the lease amount invested in the bank securities or in business and (ii) the other type is the sale consideration on sale of the property. The amount to be invested also depends on the mode of returns expected. Generally, leasing of property is attractive only for business people. Lease amount does not attract interest. Commercial property and office space yield high returns to the extent of 15% whereas the residential property yield about 8%.

Risk Factor and Limitations of Legal Scrutiny

Tracing the title of the property is the most important step in purchasing the property which has to be done by an experienced advocate well versed in property laws. Property laws are very complex and vary from State to State. Further many times, age-old records need to be examined which may not be available with the parties or even in jurisdictional Sub-registrar's offices. Further legal scrutiny is based on the documents produced for verification. However, it is not the duty of the advocate to certify the genuineness of the documents from the concerned departments. Honesty and integrity of the seller is very important. Certain hidden facts like pending cases, prior agreements and government notification of the property cannot be traced easily by verification of the documents. However, paper notification about purchase of  property would help to unearth some claims.

Liquidity

Investment in real estate cannot be immediately converted in to cash unlike stocks, deposits. However, the property is most sought after security for bank loans and rents may be securitised by obtaining loans from the Banks.

Maintenance charges

Property needs periodical maintenance, which involves a considerable amount.
Landlord Tenancy problem: Most of Indian laws are pro tenant offering maximum protection to tenants but gradually they are being amended to strike a fine balance. But even now it takes much time to evict a tenant who has defaulted in payment of rents or who has violated the terms of agreement.

Political Environment

Government has maximum control on real estate sector. Sale or purchase of agricultural land has many restrictions in Karnataka. Land use restrictions exist in many towns. The major source of revenue  to Government is from the immovable properties in the form of stamp duty and property tax.  In   case of acquisition by the Government, the compensation paid is very much less than the market value.

Price  cycle

It has been observed that the real estate has regular ups and downs where the prices go on increasing for some period and slide down for some time. But this cycle is a long-term trend. Though the investment is huge, the investor needs to be patient to have a good return which takes a long time. It would be suicidal to expect appreciation in short run. Two components, the building and the land move in opposite directions, the building value gets depreciated and the land value gets appreciated.
Other factors

Some factors remotely linked to this sector play a crucial role in determining the price. Introduction of one-way traffic and construction of flyovers near the property decreases the value of the property. Vaastu nowadays has become important. Another area of concern is want of information in property market. The available information is too insufficient and often contrasting. Even the transactions recorded in registrar's office will not reveal the real price of the property as the amount other than what is mentioned in the document might have been paid.

Rental Income

The rental income from the properties is in the range of 0.5% to 1% p.m. on the investment. Apart from this income, the value of the property appreciates regularly, whereas in the case of bank deposits, the value of the money deposited gets eroded on account of inflation. The investment in agricultural properties and farm houses are not remunerative. The income from the agricultural property, is seasonal and depends upon weather and climatic conditions. Further, the sale of agricultural properties has many restrictions. The farm house demands good maintenance which proves costly and many times the income there from may not meet the maintenance charge even. The investment in real estate is a better option.

Real estate is the only sector which yields better returns apart from capital appreciation provided the investor is prudent and has taken necessary precautions.

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Monday, March 2, 2015

Aries Lakeview Apartments for sale in jakkur, Bangalore

2BHK Apartments, 3BHK Apartments, 4BHK Apartments Area Range 1195 – 2670 Sq.ft  for sale in Aries Lakeview Located in jakkur, Bangalore

http://bangalore5.com/project_details.php?id=242

Aries Lakeview
Aries Lakeview presents 182 carefully crafted apartments offering a panoramic view of the 150 acres Jakkur Lake. These homes are solely designed to create a serene ambience away from the hustle and bustle of the city, located minutes away from your workplace.

The location offers more than expected with its catchment area facilities.
The vicinity has many schools like Vidyaniketan School, Aditi Mallya, Canadian International, etc. Keep yourself entertained with nearby recreation facilities. Hospitals within the surrounding of the residence keeps you worry less during emergency and you don’t have to panic. Last but not the least, offices like Manyata Tech Park, Kirloskar, Hinduja are nearby.

Amenities:

Childrens play area
Club house
Garden
Swimming pool
Gym



The art of science of Fengshui 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, Fengshui 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 neighbouring 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 of chi 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 house 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 corners 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.


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Thursday, February 19, 2015

Krishna Aquabay 3BHK and 5BHK Apartments for sale at Electronic City-Bangalore

Krishna Aquabay Multistorey Apartments Area Range 1498-3257 Sq.ft Located in Electronic City, Bangalore offered with 3BHK Apartments and 5BHK Apartments

http://bangalore5.com/project_details.php?id=219

Description:

Most children are primed to imagine their dream home with the sun shining over the horizon, clouds dotted with birds, a small water body flowing by quietly, and a pretty garden abutting a small house. Well, if you want to experience this in reality, here's a chance: Krishna Aquabay is your dream home on the banks of Kammasandra Lake, just after the Hosur Road Flyover closer to Electronic City Phase 1 and 2. 

Krishna Aquabay is a beautiful project located in the heart of IT Hub i.e. Electronic City. The project offers multiple choices to the buyers ranging from 3 Bedroom homes with private gardens to spacious 5 bedroom duplex apartments with private terrace gardens. With the whole host of amenities next to the lake and more than 65% lung space the project offers green and serene lake-shore lifestyle. 

AMENITIES

Club House
Fully Equipped Gym
Squash court
Table Tennis
Billiards
Cards Rooms
SPA (Steam and Sauna)
Terrace café and bar
Crèche
Multipurpose Hall
Banquette Hall
Departmental Store
Swimming pool with toddlers pool with change rooms
Jogging track
Basket Ball Post
Children's play area
Car wash bay
Fishing Deck
Lake Lounges
Pseudo seating
Water bodies with fountains
Recreational party lawn
Open Amphitheater

Service apartments for comfort and luxury

The never you hear anyone talking about interim housing, extended stay or corporate housing you can safely assume that they are referring to service apartments. The hospitality industry has been transformed through this concept. Such an apartment is a special, fully furnished place or executive home that is provided instead of a hotel. Should you be vacationing with your family, changing locations or on an official tour, staying in a service apartment will give you the comfortable feel of a home.

These apartments differ from the usual hotel rooms in that they consist of well-furnished one, two and three bedroom apartments with separate living rooms and well-equipped kitchen. You have the facilities of room service, maid service and cook service. As compared to stay in a hotel it is hard to imagine getting such reasonably priced services in service apartments.

There is a growing class of builders who are taking seriously the need for construction of service apartments. They happen to be fully furnished units with well planned interiors and quality decor.

You may be charged as little as Rs 500 a day for certain service apartments and have added luxury for more money. A party hall, billiards room or a gym, these apartments offer everything that an expensive apartment or hotel could provide. You have a fridge, water-purifier, microwave, electric kettle, toaster, gas stove, crockery, cutlery, pressure cooker and kitchen vessels whatever you need. Along with that comes access to the internet, STD/ISD facilities, car rentals, fax and broadband service - whatever a business traveler may require.

You get more value for an affordable cost. Should the company be unable to afford hotel accommodation, think of the option of corporate housing. Certain service apartments are specifically built with a specific corporate house in mind. The location will be strategic, the interiors will be gorgeous, you will have 24 hour room service and what not!

Service apartments have several advantages. These include considerable saving on accommodation expenses, they are more spacious than a hotel room, you have your own lounge and kitchen, you have uninterrupted access to business and secretarial services. Most of these service apartments are located near shopping complexes, hospitals, restaurants, schools and office spaces. There is an inviting lobby with pleasing decor, fitness center, swimming pool and restaurant, continuous maintenance and cleanliness. You will also have the facility of ample closets and storage space for suitcases, garden and play area and all basic utilities.

Some home owners try to generate income by turning their homes into such living units. These will be in demand for marriage parties and for travelers. The homeowner must make sure that such activities are allowed in the complex. Many people have spent a lot of money in turning their homes into such a place but they are not always able to keep up with all the care and attention needed as it may prove too much for a single person to handle.



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Wednesday, February 18, 2015

2BHK Apartments for sale in Electronic City, Bangalore at DS-MAX Silver Oak


http://bangalore5.com/project_details.php?id=233

Description:
 
DS-MAX Silver Oak apartment offer everything that one needs to lead an effortless lifestyle. An awe-inspiring apartment perfectly priced to lead a magnificent life. It is for those who seek nothing but the best in an absolute eye-catching apartments.

Our luxurious residence offers 2 BHK and 3 BHK apartment for a better living, which is specially built to suit your requirements with ambiance, serenity and luxury living. The marvelously designed apartment are wonderfully positioned at “Kammasandra” Bangalore South. This luxurious residence is close proximity to Electronic city, where major IT firms such as Infosys, Wipro Technologies, CGI, Siemens and Hewlett Packard are located, easy access to many commercial centers in vicinity.

Since, DS-MAX Silver Oak apartment are centered in Silicon Valley Lifestyle it successfully drives your acceptation and requirement. It is integrated with finest design floor plan, comprising plenty of modern style and efficient living space. At DS-MAX Silver Oak every residents will acquire ever-lasting pleasure with its enhanced amenities.

AMENITIES

Lift Facility
Gymnasium
Power Back-up
Intercom Facility
Swimming Pool
Vitrified Flooring
Children's Play Area
Landscape Garden
Boundary Plantation
Provision for CCTV Cameras
AC Provision For Master Bedroom
Charging Point For Electric Vehicles
 
 

Property market saw a boom all over the country during the last few years, and the prices of properties made it impossible for a common man to think of buying any property in Bangalore during this period. Seeing this sudden boom in the real estate market, many developers entered into the real estate market in Bangalore, since Bangalore was considered to be the fastest growing city in the country.

No doubt, Bangalore is one of the fastest growing cities of the country as could be seen from the launch of major infrastructure projects, like construction of flyovers, widening of major and primary roads, construction of grade separators, under passes, Metro rail, Mono rail etc. The city has grown not only in area but also in population. Bruhat Bangalore Municipal Corporation now has within its jurisdiction 110 villages, Seven city municipalities and one town municipality surrounding Bangalore and thereby the area which was just 250 sq. kms is now almost 900 sq. kms.

The population which was about 40 lakhs is now about 80 lakhs. The entry of a number of multinational and IT, BT companies has also contributed to the growth of the city in the past   / two decades. The growth has not only attracted the young job seekers, but many educational institutions have been established in and around the city of Bangalore wherein students hailing from various parts of the country and abroad seek admission in various technical and managerial academic courses. All these factors have contributed to the growth of population of the city of Bangalore.

As the Bangalore city is now considered to be the destination for investment in trade and industry and the increase in population has automatically created a greater demand for accommodation both in commercial and residential sectors.
Most of the owners of residential / commercial properties in Bangalore are expanding their built up area by constructing many upper floors to meet this greater demand. To some extent this step may meet the demand for accommodation in the city.

When this upward trend in the real estate sector was in full swing, then the came the global recession and the recession has greatly affected the real estate industry, particularly the construction sector. Buyers were forced to defer their investments strategies for various reasons. As a consequence thereof, there remained a large number of flats vacant awaiting the prospective purchasers. This trend continued till recently and the property developers were under great strain. However, the situation is now slowly improving. 
 
The demand for accommodation, both for commercial and residential, is now much improved. Developers, who have developed the properties and were not able to sell their end products, will now be able to dispose them of. To off load their finished products, the developers who are ready with their completed projects are offering various incentives like concessions in prices, provision of swimming pools, clubs, gyms, small markets, gardens, playgrounds, easy payment schedules, etc within their project area. With these incentives and facilities it is expected that the buyers will now get motivated to invest their money in real estate market. The present situation seems to be quite favorable for middle and higher middle class people for investment immovable properties.

The demand for residential accommodation being very high the developers hope to sell their properties. In addition to this, the authorities, though late, have realized that the needs for basic infrastructure in all the localities have to be met expeditiously and are now responding favourably to such demands of the people.

Now that the infrastructure development activities are in full swing and the property developers too are providing some of the basic infrastructure needed within their project areas, banks are offering required funds in the form of long term housing loans, it is hoped, the prospective investor in real estate would come forward to invest their money on the immovable property to own property of his in the city of Bangalore. The real estate pundits also feel that it is the appropriate time for investment in the real estate since the real estate market seems to be steady and investor friendly.

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Tuesday, February 17, 2015

Apartments for sale at Electronic City, Bangalore in Krishna Goldfields available with 2BHK-3BHK Apartments


http://bangalore5.com/project_details.php?id=245

Description:

Getting more than what you ask for is always a wonderful feeling. That is exactly what translates smiles in to delight, and comfort into content. And when you want an equivalent to describe this feeling, Krishna Goldfields won’t let you down. It is much more than your expectations, much more in value and much more in experience.

Krishna Goldfields, located near Electronic City, Bangalore, comprises of 606 premium value homes spread across 6.62 acres with almost 85% open spaces and beautiful landscapes. Your home here is far beyond the walls of your house… it includes the sky, the stars, the breeze and plenty of greens.

Get used to ‘more’ in life with Krishna Goldfields.


AMENITIES

Swimming pool

Toddler’s pool

Half Basket Ball court

Children’s play area

Landscaped garden

18,000 sq.ft. Club house

Fully equipped gymnasium

Table tennis

Cards room

Steam and Sauna

Departmental store

Party hall

Aerobics hall

Creche

Pantry

Multipurpose hall
 
 
Approval of layouts and building plans

Of recent, the public are utterly confused about registration of transfer of properties.  The registration process, which was a smooth process hitherto, all of a sudden has become very tedious calling various documents, approvals, orders, which were not insisted earlier. A document, which is considered as correct in one sub registrar office is rejected as not correct in other sub registrar office.  Revenue department, Department of Inspector General of Registration and Commissioner of Stamps, all the sub registrars are utterly confused themselves and are unable to guide the public.

Karnataka Government by notification RD/174/MUNOMV/2005/ dated 23/4/2005 had declared the transfer of certain properties as opposed to public policy and instructed the registering authorities not to register the properties detailed in the notification.  Further, Government of Karnataka clarifying certain points referred in its notification dated 23/Aug/2005 clarifying certain points referred in its notification dated 23/04/2005, but has only compounded the confusion, adding to the misery of public and stubborn registering authorities, which is causing unnecessary harassment to the public.

The two important points, which have affected the registration are conversion of agricultural land to non-agricultural purpose and approval of layouts.  The agricultural land cannot be used for any other purpose, unless it is converted to non-agricultural purpose.  Under section 95 of Karnataka Land Revenue Act, the Government has recently introduced ‘Single Window’ system for conversion of land.

Apart from conversion of land, the layout should be approved by concerned authority, thereafter building need to be approved. Generally, Urban Development Authority, which is in the district is approving authority for layouts.  But many layouts are approved by City Municipal Councils, TMC, and Village Panchayats, which has led to low quality development works causing heavy financial burden on local boards and inconvenience to the public – The conversion of land for any purpose other than agricultural purpose should not be in violation of approved master plan, CDP proposals.

As far as Bangalore and surrounding areas are concerned, there are various planning authorities which approve layouts.  Each planning authorities has specified jurisdiction.  People should know that the Bangalore City Corporation, various City Municipal Councils, TMC or Village Panchayat do not have any authority to approve layouts which vests with Jurisdictional Planning Authorities.  Many problems have come because of the unauthorised and indiscriminate approval of layout by these authorities, which has exposed the public to hardships.

Approval of Building Plans.

Before discussing about planning authorities, we shall understand about the powers of local bodies like City Corporation, Municipal Councils, TMC, Village Panchayats to approve building plans.  Constructions are permitted only on converted lands and approved layouts.

Village Panchayats may approve building plans with ground plus one structures within their jurisdictional areas only.  Gramathana sites have come under strict scrutiny and many Panchayat Boards have mindlessly issued Form 9 & 10 and any approval of building plans on such gramathana sites requires extra precaution.  The gramathana sites can be identified by referring to village map of department of survey and settlement.  As per new circular such sites should be certified by village accountant enclosing a rough sketch of the gramathana site indicating the exact location in the village map and its boundaries.  If the gramathana site satisfies all these stipulations, the Government will not insist on conversion, and village panchayat may approve building plan of ground plus one floor on such site.  However, it is very difficult to identify genuine gramathana sites as lot of bogus documents are in circulation.

City Municipal Councils, TMC and Bangalore City Corporation may approve building plans upto ground plus three floors only.  Any building plans in excess of ground plus one in village panchayat areas and in excess of ground plus three floors in the area of city corporation and municipal councils needs approval from Town Planning Authorities.

Deemed Conversion

As stated earlier, the layouts have to come only in converted lands.  Hon’ble High Court of Karnataka in its judgement in BDA V/s. Vishwa Bharathi House Building Co-operative Society (1992(1) LJ 523B (DB) ILR 1991 KAR 440 (DB) has held that agricultural lands within the jurisdiction of a City Corporation is deemed to be converted.  But Government has clarified that there is no such deemed conversion, but the competent authority may grant conversion order.

Payment of Betterment Charges

It is also clarified that though the betterment charges are paid to the concerned local authority, and katha has been issued by the local authority, if such property is an agricultural land earlier to payment of betterment charges.  Conversion of land to non-agricultural purpose is necessary under the provisions of section 95 of Karnataka Land Revenue Act 1964.  In this circumstances payment of betterment charges and issuance of the Katha is not a conclusive proof  of conversion.

Planning Authorities

There are various planning authorities authorised to approve layouts in and around Bangalore.  They are;

1.   Bangalore Development Authority.

2.   Bangalore Metropolitan Regional Development Authority (BMRDA).

3.   Bangalore International Airport Planning Authority (BIAPA).

4.   Ramanagaram-Channapatna Urban Development Authority (RCUDA).

5.   Nelamangala Planning Authority.

6.   Magadi Local Planning Authority.

7.   Kanakapura Local Planning Authority.

8.   Bangalore Mysore Infrastructure Corridor Planning Authority (BMICAPA).

Each planning authority has specified jurisdiction.

The jurisdiction of BDA comprises the area of Bangalore City Corporation surrounding City Municipal and Town Municipal Councils and Village Panchayats and applications may be addressed to Commissioner, Bangalore Development Authority, Kumarapark, Bangalore-20.

The office of BMRDA is located at LRDE building, Ali Askar Road, Bangalore, and has jurisdiction on Bangalore Urban and Rural Districts and Malur  taluk of Kolar district, except areas covered under BDA, BIAAPA and other Local Planning Authorities.

BIAAPA also has its office at LRDE building, Ali Askar Road, opposite to Palace Guttahalli Bangalore-52, and has jurisdiction over the proposed new airport and its environs.

BMICAPA has jurisdiction over small area of about 65 Sqkms comprising Bangalore-Mysore Inter Corridor Area.

Other planning areas referred above have Jurisdiction over respective towns and environs.

Planning area under BMRDA is very vast, but infrastructure available in BMRDA is not enough for speedy disposal of approvals, causing much delay.

In other cases, not referred above the respective Urban Development Authority like Shimoga Urban Development Authority, Bellary Urban Development Authority has jurisdiction to approve the layouts, if the lands are situated in their geographical jurisdiction.  There are 27 Urban Development Authorities in the State.

Apart from these Urban Planning Authorities, if the land is situate in the areas of any planning authorities, the applications have to be referred to the member secretary of concerned planning authority.  There are 42 planning authorities in the state.

If the properties are located outside the jurisdiction of BDA, BMRDA, /BIAAPA, BMICAPA, Urban Development Authorities, Member Secretary Planning Authority, the application have to be submitted to Assistant Director, Town Planning.

Only these authorities have powers to approve layouts and building plans within its stipulations.  Any development activities have to be permitted by these planning authorities as per the provisions of various laws and local bodies have no authority to grant such permissions.
 
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