Posts Tagged ‘Bangalore’
Tuesday, March 9th, 2010
A week after the Budget made homes more expensive by imposing a service tax of 10% on the cost of construction, banks are now ratcheting up interest rates by 0.25-0.50%. Bankers say they expect rates to rise by another 0.25-0.50% after two-three months when the Reserve Bank ups rates in general at its next credit policy review in April.
All new home buyers will now have to pay 0.25-0.50% of additional interest. This is because the Reserve Bank of India has impounded more bank cash to check inflation, with the cash reserve ratio being raised by 0.75% to 5.75% in February. New borrowers will have to shell out Rs633 more in terms of equated monthly installments (EMIs) compared to people who have already raised their loans.
Home loan vendors are not making the buying decision any easier. Kotak Mahindra Bank, too, has announced a hike in home loan rates. On Thursday, leading home financiers ICICI Bank and Housing Development Finance Corporation (HDFC) ended their “teaser home loan” schemes, under which rates were as low as 8-8.25% in the initial years.An ICICI Bank spokesperson said that the “two-year fixed-rate home loan scheme has been discontinued from March 1, 2010. The current floating home loan rates are 8.75% for loans up to Rs 30 lakh, 9% for Rs 30-50 lakh and 9.5% above Rs 50 lakh.”
Tags: Bangalore, buying a home, home loan, home loan gets pricier, News, property, real estate, Real Estate India
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Tuesday, February 23rd, 2010
Hike in power tariff may propotionally increase your water bills as BWSSB has written to government for hike in water tariff. In order to meet BWSSB’s increasing monthly expenditure on power charges,BWSSB has written to the government asking for a proportional hike in the water tariff.
In case the government approves BWSSB’s proposal, there might be a proportional hike in water tariff for both domestic and commercial consumers. “We are incurring almost a 11.5% increase in our monthly power charges, paying Rs 2.5 crore extra a month. In case the government approves our proposal, there might be a proportional hike in water tariff” said BWSSB chairperson P B Ramamurthy at a meet at FKCCI.
On Tuesday, there will be no water supply in the North and East parts of Bangalore.The crisis follows a sudden sludge in the motors and almost all the machines have stopped functioning since monday evening. The supply will be restored after Tuesday as the repair work is in progress.
Source: The Time of India
Tags: Bangalore, Bangalore East, bwssb bangalore, Hike in power tariff, hike in water tariff
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Friday, February 19th, 2010
State bank of India one of leading banks in India will organize a three-day ‘SBI Loan Utsav’. The SBI loan utsav 2010 starts on Friday 19,2010 on 4 pm at its local head office campus on St Mark’s Road.
While announcing that the bank will offer spot loans at an interest rate of 8 per cent, it said that customers can visit the stalls from 11 am to 7 pm on Saturday and Sunday. Over 40 top builders/developers of Bangalore and major auto dealers are participating. On Friday, it is open between 4 pm and 7 pm.
The builders will showcase more than 25,000 apartments in SBI loan utsav 2010. SBI is partnering with SBI Card, SBI Life and SBI Mutual Fund in organizing the Utsav. SBI loan utsav is organized at its local head office campus on St Mark’s Road in association with The Times of India.
Customers can visit the stalls on three days to choose from over 25,000 apartments. Major auto dealers will present the latest offerings from their stable.They can also select their favorite cars from a wide range available at the exposition.
Tags: apartments, Bangalore, Bangalore Property, car loan, home loan, Loan, SBI, SBI Home Loan, sbi loan utsav, sbi loan utsav 2010, spot loan, st marks road bangalore
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Wednesday, February 17th, 2010
The BBMP is planning to restart collecting betterment charges, which was stopped five years ago. To bail out the BBMP from the financial crunch, the government planned to bring the Sakrama scheme, which was turned down by Governor Hansraj Bhardwaj. Now the BBMP has recommended the collection of development fees from those who live in illegal layouts and want development activities in their areas.
There are around five lakh properties in the City which are illegal and have not paid betterment charges. The BBMP started working on this idea a few months ago and formed a committee led by the Palike’s zonal commissioners, chief engineers, finance and revenue officials.
According to the Palike sources, the BBMP has proposed to charge Rs 1.2 lakh for a 2,400 square feet site, Rs 60,000 for a 1,200 square feet site and Rs 30,000 for the 600 square feet site.
Source: Deccan Herald
Tags: akrama sakrama bangalore, Bangalore, Bangalore East, bbmp, bbmp bangalore, bbmp property, betterment charges, illegal layouts, property
Posted in Bangalore, News | No Comments »
Tuesday, February 9th, 2010
According to an estimate, nearly 2.5 lakh property owners have not paid their property tax for 2008-09 and 2009-10. Now, the civic authority plans to do a door-to-door survey to issue notices to the defaulting property owners and make them pay the dues.The demand notice will give them 15 days time to make the payments with two per cent penalty.
“Our officials have been visiting all these buildings and issuing notices to the occupants, irrespective of whether they are the owners or not,” said an official. BBMP expects to meet the shortfall of Rs 400 crore in the two months time.
Despite issue of notices,many of property owners has not paid property tax 2008-09 & 2009-10 under SAS.If the property tax for 2008-09 has been paid, property owners can avail the facility of online paying for year 2009-10 by using Visa/Mastercard on BBMP’s website.
The property owners without Occupancy Certificate can pay property tax under Self Assessment Scheme (SAS) with their title deed (sale deed).The property will be registered in BBMP’s B-Register until regularization of property.The property owners cannot file self assessment declaration once assessment order is issued. BBMP requests property owners co-operation during inspection and assessement by BBMP officials.
Last chance for defaulters
- For payment made after 30th November 2009, an interest of 2% per month will be levied.
- Property owners paid property tax for 2008-09 can avail the facility of online paying for the year 2009-10 by using Visa/Mastercard on BBMP’s website.
- The property owners without Occupancy Certificate can pay property tax under Self Assessment Scheme (SAS) with their title deed (sale deed).
- The demand notice will give property owners 15 days time to make the payments with two per cent penalty.
- Further action will be taken against them as per the provisions, if defaulters do not pay their dues even after receiving demand notices.
- Log on www.bbmp.gov.in or your nearest Help center for more details.
Tags: Apartment, Bangalore, Bangalore Property, bbmp, bbmp bangalore, citizen service center, Housing India, indian real estate, property, property tax, property tax 2008-09, property tax 2009-10, Real Estate India, regularization
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Tuesday, February 9th, 2010
Rainwater Harvesting (RWH) appears to have opened a new window of employment to plumbers, who are in huge demand.There are approximately 60,000 houses which need to implement the system in Bangalore by May 2010, and 8,000 of them have already implemented it, according to BWSSB.
Each project can cost from Rs 4,000 to about Rs 40,000, which includes the material and labour cost. BWSSB is also trying to get the 12.5% VAT exempted from materials required for rainwater harvesting.The mandatory clause will be applicable for all new structures on a sital area measuring 1,200 sqft (30×40) and above, in the case of existing structures, it will be applicable for those built on a sital area of 2,400 sqft (40×60) and above.
When the order was issued, there were hardly any plumbers to do the skilled job, now there are around 400 plumbers trained by BWSSB, Karnataka State Council for Science and Technologies (KSCST) and IISc, and are available to implement the system wherever required. NGOs like Samvada are also training youth. “Around 10 youth trained by Samvada are busy meeting the demands of several calls. Their charges are site-specific and they specialize in rooftop rainwater harvesting for houses, hospitals, factories or any commercial establishments”-said program associate, Samvada, Satish K S.
The training process for rainwater harvesting will continue for the next three years. From April, another 500 will be trained and certified. Anyone can take up this training, and no formal qualification is required. As of now, BWSSB’s registered plumbers are being trained.
The Bangalore Water Supply and Sewerage Board (BWSSB) has proposed relaxation of Value Added Tax (VAT) for filters intended to motivate the public to opt for RWH before the May 27 deadline. To motivate plumbers to carry out Rain Water Harvesting (RWH), BWSSB has announced cash incentives if they attain specific targets.
Source: Times of India
Tags: Apartment, Apartment India, Bangalore, bbmp, bwssb, bwssb bangalore, Housing India, indian real estate, property, rainwater harvesting, rainwater harvesting for apartment, Real Estate India, RWH a new window of employment
Posted in Bangalore, News | No Comments »
Wednesday, February 3rd, 2010
The Bangalore Water Supply And Sewerage Board (BWSSB) will conduct water adalats to redress public woes or any other disputes related to water supply and sanitation. The water adalat of BWSSB, Central-1 sub-division, will be held on Wednesday from 9.30 a.m. to 11 a.m. at the office of the Assistant Executive at Chikkalalbagh.
Grievances of consumers coming under the jurisdiction of Chikkalalbagh, LLR and Bashyam Park service station limits will be heard. Call 22945187 or 22945188.
Tags: Bangalore, bangalore bwssb, BWSSB water adalat, water adalat
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Monday, January 25th, 2010
The Bangalore Water Supply and Sewerage Board (BWSSB) has proposed relaxation of Value Added Tax (VAT) for filters a key component used in the installation of the RWH structures. At present, nearly 12.5 per cent VAT is being charged on the cost of the filters.The filter, the most vital component in the RWH apparatus, is used to remove dust and other solid matter present in water.
Rooftop rainwater harvesting systems are now mandatory for new buildings in 18 of India’s 28 states. A rule requiring all new buildings in Bangalore to incorporate water harvesting systems will be extended to all cities in Karnataka state next year. Section 72A of the Act mandated that all new buildings of sital area of 1,200 square feet (30 x 40 site) and above and existing buildings having a sital area of 2,400 square feet (40 x 60) install RWH structures in their premises.The deadline for complying with the Act expires on May 27 this year.
BWSSB move is intended to motivate the public to opt for RWH before the May 27 deadline.There are three types of filters presently used in the different types of RWH methods: a pop-up filter, a rainy filter and a sand filter.The Rainy filter costs Rs 5,000 and the discount could bring down the price to Rs 4,400. The BWSSB is also calling for Expression of Interest from manufacturers of filters, said a source. To motivate plumbers to carry out Rain Water Harvesting (RWH), the Bangalore Water Supply and Sewerage Board (BWSSB) has announced cash incentives if they attain specific targets.
Reference:
Deccan Herald
bwssb proposes tax rebate rwh filter
Tags: Bangalore, bwssb bangalore, incentives for plumbers, rain water harvesting system, RWH deadline, Tax rebate on RWH filter, VAT on RWH filter
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Monday, January 18th, 2010
with the Governor, H.R.Bhardwaj, suggesting a thorough discussion on the issue on the floor of the Legislature, the hopes and aspirations of a large number of Bangaloreans to utilize the Akrama-Sakrama scheme and thus legalize their dwelling unit continues to remain a distant dream.
The much-touted scheme of the ruling BJP aimed at pleasing Bangaloreans has thus hit a roadblock right away with the Opposition parties keen on a full-fledged discussion on the subject which is likely only in the budget session of the State Legislature in March. Sources in the two main Opposition parties in the two Houses of the Karnataka Legislature, the Congress and the Janata Dal (Secular), told The Hindu that they are happy with the decision of the Governor to refrain from promulgating an ordinance.
“In 2004, the Governor T N Chaturvedi returned the ordinance with this message and then the government took three years to rectify and following objections the law was passed. It was also challenged in the Karnataka High Court which had stayed it. So how do you expect me to bypass both the legislature and judiciary?” asked Governor, H.R.Bhardwaj.
“It is an important subject which involves the lives of several lakhs of people. There has to be a full-fledged discussion on the Karnataka Town Planning (amendment) Bill.”
The two main Opposition parties in the two Houses were not per se against the Akrama-Sakrama scheme but were keen on a detailed discussion. It should be ensured that the scheme is only for the benefit of the common people and not for safeguard the interests of the real estate developers or commercial builders who have indulged in gross violations of building bye-laws.
The number of unauthorized constructions in the State has swelled with every passing year and what was four lakh when the regularization scheme was first proposed in 2004 has now touched nearly 13 lakh of which 10 lakh is in Bangalore alone.
Given the nature of the reply given by the Governor to the proposal of the State Cabinet to promulgate an ordinance, the regularization scheme is expected to be implemented well after the elections to the council of the Bruhat Bangalore Mahanagara Palike scheduled to be gone through on February 21. People will, however, have a year’s time to apply for regularization from the date of commencement of the process, although the cut-off date for regularisation has been fixed — December 3, 2009 — the date on which the State Cabinet approved the scheme.
Link to Refer:
The Hindu
Tags: akrama, akrama sakrama bangalore, Akrama-Sakrama scheme, Apartment, Apartment India, Bangalore, Bangalore East, bbmp, bbmp akrama sakrama scheme, bbmp bangalore, indian real estate, property, Property Registration, Real Estate India, sakrama
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Wednesday, January 13th, 2010
Real estate major Sunil Mantri Group, has identified Bangalore as a strategic target for expansion with the launch of an integrated residential community project christened as Mantri Premero, in close proximity to major IT companies, the Electronic City, and ITPB. The total net worth of the project, would be Rs. 250 crore.
Speaking on the launch, Sunil Mantri, Chairman, Sunil Mantri Group commented, “Bangalore, being one of the most prominent landmarks on the world map, inspired us to develop good quality homes and spaces that are on par with world-class standards. Now, with Mantri Premero, Bangalore will have exclusive lifestyle homes with the blend of affordable amenities that integrate nature with every day dwelling”. Complete News here.
Tags: Bangalore, launch of new project, Mantri, Mantri Premero, New Project
Posted in Apartment Buying, Bangalore, Builder, Housing India, New Project, News | 2 Comments »
