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Rising demand for affordable housing in west

Friday, May 28th, 2010

Areas in the Bangalore West such as Magadi, Jalahalli, Mathikere and Nagarbhavi are witnessing demand for residential options primarily due to the planned connectivity. Analysts estimated residential sales volumes in 2009-10 to be in the region of 250 million sqft which was higher over 2008-09 by two-thirds.

The improved connectivity will lead to a lot of businesses coming up here and will generate employment for thousands of people. The connectivity and resulting boost for industry in this region will push demand for affordable housing in west Bangalore. The widened Sarjapur Road saw a surge in residential high rises, IT parks and new retail establishments on either side. Similarly, Bangalore West is expected to see a growth in its residential and commercial market.

The Bruhat Bangalore Mahanagara Palike’s (BBMP) initiative to widen major roads in the city will not only speed up commuting time and ease traffic congestion, it will also improve connectivity and foster large-scale real estate development along the routes.The opening of the road from Summanahalli, Magadi Road to the Mysore Road-Ring Road junction has led to a new interest in housing options in this area. The BBMP has planned major signal-free corridors that will ease traffic in this area. The BMIC’s expressway is expected to fuel growth towards Bidadi. The Tumkur Road project will enhance connectivity towards Nelamangala and reduce congestion on the ORR.  The widening of the Bangalore-Mysore highway from the existing four-lane to a six-lane road has already begun.

Devanahalli, Hoskote, Attibele, Tumkur Road, Whitefield, and Doddaballapur Road are some of the areas that will benefit from proximity to the PRR. Many developers have come out with housing projects and sites in these areas. Areas along Bellary Road, Hennur Road, Yelahanka, Jalahalli, and Jakkur are emerging locations for Grade A residential developments. Tumkur Road, Hosur Road and Doddaballapur Road are emerging residential pockets for affordable housing segment.The Metro will connect residential, commercial, and industrial hubs, giving a greater impetus to realty and push up property prices.


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State government to bring control on private water suppliers

Tuesday, May 25th, 2010

Considering the situation related to water shortage and private water suppliers taking advantage, the state government is planning to bring control on private water suppliers who are supplying water through tankers. Government is planning to put a ban on the supply of water in tankers by private operators in the city. By controlling private water supply in city, the BBMP and BWSSB bore wells will get water which can be supplied to areas which are facing water problem.

“Water tankers are charging heavily from the people. We are planning to put a ban on the supply of water in tankers by private operators in the city. If private players want to supply drinking water, they must get water from outside the city. We are discussing with legal experts ways on how to curb private water suppliers,” said city in-charge minister R Ashoka.

Apart from this, the state has also decided to set up task forces in all the assembly constituencies in the city under the head of local MLAs. These Task forces will have full powers to take measures to solve the water crisis and to dig bore wells. “We have decided to appoint 150 men for each ward to supply water. In some areas, we will outsource the monitoring of water supply,” said Ashoka.


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The filtering process should not result in loss of rainwater

Monday, May 24th, 2010

Filter plays vital role in Rainwater Harvesting. Primary job is to keep organic particles and silt out of the rainwater to be harvested. The filtering process should not result in loss of rainwater to be collected or should not also result in choking and consequent flooding.

For individual homes, a simple drum with a cloth covered inlet is good enough. Passing the rainwater through a sand bed is simple and easy. For a 100 square metre roof area, one 60-litre drum filter is usually enough. There filiter available are many in the market and most of them do the basic job of keeping organic particles out. Go for the simpler and easy to maintain and to clean.They should also be cheap and easy to replace.


A bye-pass system helps in the filtration process because it is only the first 5 mm of rain which usually needs to be cleaned. The filter, if made of ferro-cement, can last longer and is much tougher than plastic. Ferro-cement does not crack in the sun and is much more eco-friendly than PVC. Before buying and installing a filter, ask what it does, the difference between input and output water quality and how easy is it to maintain.

Since a filter has to handle a heavy downpour at times it cannot function at micro-filtering the rain. It can only keep the larger particles free.The filtering process should not result in loss of rainwater to be collected. The entire rainwater harvesting system consists of a catchment, which is usually the roof, the conveyance, which are rainwater gutters and downpipes, the filters and finally the storage or recharge, which is a sump or a well.

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Change in the base rate will apply to new as well as old customers

Monday, May 24th, 2010

The existing borrowers can cheer now, as under the ‘base rate’ regime, to be effective from July 1, 2010. It is reported that the Reserve Bank of India, in its guidelines on the ‘base rate’ (the new benchmark that banks will use to price loans), has made it clear that any change in the base rate will apply to new as well as old customers. If you thinking of shifting your home loan account to another bank/HFC. Hold on till July 2010, when the ‘base rate’ regime starts and you may get an opportunity to shift to the ‘base rate’ without spending any amount. It is hoped that the ‘base rate’ system will enhance transparency in lending rates and usher a new beginning in the financial system of the country.

One of the major grouses of existing home loan borrowers is that they continue to pay higher interest, while banks and Home Finance Companies (HFCs) are offering much lower interest rates to new customers. The existing borrowers can cheer now, things are expected to change for the better. The ‘base rate’ system would be applicable to all banks and as such the housing finance regulator (National Housing Bank) may issue separate guidelines for home finance companies (HFCs) to ensure transparency in fixing interest rates on home loans.


Under the ‘base rate’ regime, the best part is banks will not be allowed to offer loans at interest less than the base rate fixed, which will have to be reviewed at least once in a quarter. For existing borrowers, banks will have to provide an option to switch over to the new system before the expiry of the existing contracts, on mutually agreed terms. However the RBI has made it clear that the bank cannot charge any switch-over fee for converting an existing loan from BPLR to the ‘base rate’ system.The ‘base rate’ may vary from one bank to another as RBI has allowed banks to choose any benchmark to arrive at the base rate for different loans, but the factors considered to arrive at the rate will have to be transparent and should be disclosed to the public.

Source: The Hindu

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It is impossible to solve problems overnight

Thursday, May 20th, 2010

“It is impossible to solve problems overnight. We have more than six lakh connections and lines that are more than 30 years old. Water supply in Bangalore is much better than in other metropolitan cities. We are doing our best to efficiently manage the available resources and infrastructure. I will answer the questions after receiving complaints from corporators.” - Said BWSSB chairman P B Ramamurthy.

After the conclusion of the BBMP council meeting to discuss the water crisis in the city, Bangalore Water Supply and Sewage Board (BWSSB) chairman P B Ramamurthy said that the board has been working on finding solutions to all problems.


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Rainwater Harvesting Deadline Extended and No Tariff Hike

Thursday, May 13th, 2010

Rainwater Harvesting is mandatory and May 27 was deadline to compulsorily fix rainwater harvesting in your house. All houses measuring over 60×40 ft were told to compulsorily install the equipment to save rainwater. The BWSSB has extended deadline of Rainwater Harvesting  by two months. The decision to extend the deadline for rainwater harvesting came after there were demands from residents to give them some more time to install the system.

BWSSB has postponed the move to hike the water tariff only after monsoon sets in. Bangalore Water Supply and Sewerage Board (BWSSB) in-charge minister Katta Subramanya Naidu said: “With the city facing shortage of water, we have postponed the move to hike the water tariff. We are now looking at implementing the hike only after monsoon sets in. After summer, you can expect hike in water tariff.’’

Stating that harvesting rainwater would be the best solution to mitigate water shortage in Bangalore, Katta said that recycled rainwater would be supplied to the city. To implement this plan, BWSSB plans to create six artificial lakes — two in Vrushabavathi Valley, two in Bellandur valley, one in Anekal and one in Hoskote. “Each lake will be developed in 1,300 acres. The estimated cost for the project is Rs 4,500 crore. Besides, the existing 135 lakes will also be used for this. Rainwater will be collected in the lakes and supplied to the city,” he said.

Source: Times of India


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BBMP issued notices for defacing the walls of the city

Tuesday, May 11th, 2010

The Bruhat Bangalore Mahanagara Palike (BBMP) issued notices to 20 film producers and distributors for defacing the walls of the city, especially in Gandhinagar. They were also asked to pay Rs 500 as penalty for each violation. “It’s the responsibility of the BBMP to remove banners and hoardings,’’ said K Manju, a film producer who paid the fine for defacing walls.

Archana, Assistant Commissioner (East), BBMP, said no one had the right to put up hoardings and banners without the permission of the BBMP.  “I had sent officials to remove such hoarding near Geo Hotel, but they returned after failing to find them,’’ she said. “I will send them on Tuesday again.”

A few months ago, officials of the BBMP slogged to issue notices to film producers and distributors for putting up movie posters and hoardings at unauthorised places. The BBMP issued notices to 20 film producers and distributors, especially in Gandhinagar for putting up movie posters and hoardings at unauthorized places and defacing the walls of the city.

But the BBMP officials have failed to apply the same measures against corporators. Many corporators were newcomers and were not aware of the procedure of taking permission from the BBMP to put up hoardings. “I am aware that many corporators and their supporters were putting up banners to thank voters for electing them. There cannot be a separate rule for corporators.  I, therefore, urge the BBMP officials to remove all banners and hoardings.” Mayor S K Nataraj said

“I will advise all the corporators to remove such banners during the forthcoming training program that is scheduled to be held soon.”  He said the program will also create an awareness among the corporators on how to keep the city clean.

  • Source: expressbuzz.com


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Green builder BCIL won ‘Realty Plus Excellence Award 2010′

Monday, May 10th, 2010

Green builder BCIL has won the ‘Realty Plus Excellence Award 2010′ for its premier project T-Zed Homes.BCIL T-Zed has won six awards from five countries in the last three years. Chandrashekar Hariharan, CEO, BCIL, received the award from Hooda, MP, at the Realty Plus Awards function held in New Delhi.

BCIL has won the ‘Realty Plus Excellence Award 2010′ for its premier project T-Zed Homes for demonstrating pioneering leadership values in the area of sustainable architecture and for marketing of green homes with high standards of luxury.The Realty Plus awards recognize individuals, organizations and projects that have created and delivered new benchmarks for excellence in the Indian real estate industry. The awards are given across various categories covering, residential, commercial and retail space. The “environment-friendly project of the year” title was conferred on BCIL for demonstrating excellence in developing holistically green property.

Mr. Chandrashekar Hariharan said, “It only reminds us all at BCIL that we have so many more new benchmarks to set and leadership initiatives to demonstrate for the building industry.” Last year, T-Zed became the first Completed Residential Apartment in the World to receive the LEED Platinum Rating, the highest rating for green buildings.The uniqueness of the property includes features like India’s first centrally air-conditioned (with no CFC and HCFC) residential campus and a campus which has no water supply connection from the outside.

Source: The Hindu


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Reduction in Stamp duty help Common Man

Monday, May 3rd, 2010

The State Budget has extended some concessions in the form of reduction in stamp duty charges. The stamp duty on sale agreements of immovable property (without delivery of property) has been reduced to 0.1 per cent of sale value, subject to a minimum of Rs. 500 and maximum of Rs. 20,000.The stamp duty on DTD (Deposit of Title Deeds, executed at the time of taking home loan or loan against property), has been reduced to 0.1 per cent of loan amount subject a minimum of Rs. 500 and a maximum of Rs. 50,000.

For a sale agreement to buy a house for a consideration of Rs. 50 lakh, the stamp duty last year was Rs. 12,500, which will now get reduced to Rs. 5,000. If you had taken a home loan of Rs. 40 lakh in the last year, the stamp duty on DTD would have been Rs. 10,000, which will now get reduced to Rs. 4,000.

The budget has rationalized stamp duty payable on leasing out property. The stamp duty payable for a residential property leased out for less than one year, the stamp duty payable is 0.5 per cent of annual rent and advance (deposit) taken, subject to a maximum of Rs. 500 only. If the property let out is commercial or industrial, the stamp duty payable would be 0.5 per cent of annual rent plus money advanced, without any maximum limit.

The stamp duty for lease period has been now reduced to one per cent for lease period from one year to 10 years. Further, stamp duty applicable on lease period of 10-30 years has been reduced to two per cent for lease period of 10-20 years and three per cent for lease period of 20-30 years.

The builders and developers will also benefit from the budget as stamp duty on sale agreement (joint development) has been rationalized to one per cent of market value with a maximum of Rs. 1.5 lakh. Similarly, stamp duty payable on Power of Attorney (given for developing/construction), has been rationalized to one per cent of market value, subject to a maximum of Rs. 1.5 lakh.

The State Government has been following the stamp duty rates as recommended in the National Habitat Policy in order to get various benefits available under JNNURM (Jawaharlal Nehru National Urban Renewal Mission). Hence one can expect the stamp duty charges on registration of immovable property to get reduced from the present six per cent to five per cent in the next budget (2011-12).


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BBMP property tax deadline extend till May 30

Monday, May 3rd, 2010

Friday was last date for property owners for availing 5% rebate on payment of property tax. Bringing relief to Bangalore’s property owners, BBMP has decided to extend the 5% rebate on payment of property tax by a month. BBMP commissioner Bharat Lal Meena said the palike had written to the government seeking an extension.

The property owners who want to avail a rebate of five percent on property tax can pay property tax 2010-11 in full on or before May 30. The deadline for the first half yearly payment without fine was May 30,BBMP extended to June 30.

BBMP commissioner Bharat Lal Meena said the palike had written to the government seeking an extension. Mayor Nataraj ruled out the opposition demand for a two-month extension.

Property owners can pay the 2010-11 half-yearly tax without fine up to June 30. Tax may be paid at all the BangaloreOne centres and at BBMP help centres.

Extended Deadline

  • May 30, 2010: Last date for 5% rebate if paid in full
  • June 30, 2010: Full payment or firsthalf installment of property tax 2010-11 without penalty

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