Posts Tagged ‘Bangalore East’
Tuesday, November 17th, 2009
BBMP has sent nearly 2 lakh notices over the past 10 days. May 30, 2009, was the last date to pay the second half installment without penalty for 2008-09. Technically, the BBMP has powers to issue notices from September. However, the process was delayed till the compilation was complete.
In its drive to catch errant taxpayers for the previous block period (2008-09), the Palike has surprisingly been snaring a few regulars. This has shocked both residential and commercial property owners. Venkatesh, staying in an apartment on Sarjapur Road who promptly paid tax for both block periods within the rebate period, was shocked when he received the notice. It said the BBMP is yet to receive tax on his property for the previous year.
BBMP revenue officials, who confirmed the mistakes had indeed happened, said it could be in cases where people paid tax on the cut-off date or later. “We admit it’s a mistake but you needn’t panic if you have the receipt. You must produce it and ignore the notice,’’ a BBMP official said.
According to BBMP records, only 7.63 lakh property owners of the overall 20 lakh properties in Bangalore have paid tax for 2008-09. This includes 2.6 lakh owners in core areas which have 6.9 lakh properties. A majority of residential property owners in the newly added areas are yet to enter the tax bracket for the previous block period. All this when the November 30 deadline for payment of second-half instalment for the current block period is not too far away.
Reference:
Times of India
Tags: Apartment, Apartment India, Bangalore, Bangalore East, bbmp, bbmp bangalore, Housing India, indian real estate, notice to defaulting property owners, property, property owners, property tax, property tax 2008-09, Real Estate India, Tax calendar
Posted in Bangalore, News | No Comments »
Friday, October 16th, 2009
FIRE Luxur Developer Pvt. Ltd. announced the launch of Phase 1 of its township ‘The Empyrean’ at Bangalore. FIRE Luxur Developers Pvt. Ltd. is a JV company formed between FIRE (First Indian Real Estate) Capital Fund, a Private Equity Fund focused on Indian Real Estate and The Nilgiris Group of Bangalore, with a project outlay of over USD 350 million.
The Empyrean is located on the outskirts of Bangalore, towards east of Whitefield, away from the congestion of the city. It’s proximity to five existing and upcoming IT Hubs, is expected to make it a preferred destination among the IT/ITeS professionals.
The low rise, low density residential development has multi- housing option including five spacious options of villas with sizes ranging from 2,095 sq ft to 5,500 sq ft, very attractively priced at an average overall price of Rs 2250 per sq ft. All the major amenities are clustered at the centre of the Township, with a Clubhouse, Primary School and Shopping Centre nestled around a Central Park, designed in neighbourhood cluster format providing easy on-foot accessibility for every resident.
The project has already received Environment Clearance from the State Level Environment Impact Assessment Authority, Karnataka and the Layout Plan Approval from Department of Town & Country Planning.The Empyrean will be developed as a modern ‘Garden City’, offering a differentiated proposition in a city dotted with frantic real estate growth.This is the third investment in India after ‘Silver Springs’ in Indore and ‘The Empyrean’ in Nagpur.
Reference:
fire luxur announces the launch of its township project the empyrean at Bangalore
Tags: Apartment, Bangalore East, environment clearance, fire luxur, garden city, launch of new project, layout plan approval, silver springs, The Empyrean, The Empyrean Bangalore, township project, whitefield
Posted in Builder | 1 Comment »
Monday, September 21st, 2009
From November you can get facilities from your Bangalore One right at your doorstep. Bangalore One starts service in mobile vans. Besides easy payment of power and water bills, you can also get your passport made.This initiative of the state’s e-governance department is called `E-services on wheels’ or mobile Bangalore One.
Bangalore One centers will come right to your doorstep. All the facilities now available at Bangalore One will also be available in Mobile Bangalore One. Two mobile vans with five computers each will travel in designated areas. The schedule of mobile Bangalore One will be informed in advance and they will stop for a minimum of two hours depending on the area’s need.Centers like Bangalore One will be launched in the other eight corporations soon.Tenders for the same has been called and soon will know about the private parties offering the services.
Reference
Bangalore One at your doorstep from November
Tags: Bangalore, Bangalore East, Bangalore one, indian real estate, property, Real Estate India
Posted in Bangalore | 1 Comment »
Monday, September 14th, 2009
It is good time for investing in residential property. Localities in each zone of Bangalore are emerging as prime residential areas.
A region is good for investment with various reasons such as easy commuting to key areas in the city, good connectivity with the Outer ring road, commercial development, good social infrastructure, industrial growth etc.
Residential segments in the north and northeast Bangalore such as Hebbal, Nagavara-Outer Ring Road (ORR), Yelahanka, Sahakaranagar, Jakkur, Coffee Board Layout, HRBR and HBR Layout, Banaswadi, off Kempapura Road, Amruthahalli, Hennur Road, and Thanisandra Road are the best options for investments. Devanahalli and Yelahanka are emerging as good alternatives to set up facilities. The international airport spurred growth in the north, and many companies are shifting here Yelahanka has seen significant residential spread over the past eight years. Due to good connectivity with the Outer Ring Road, the Hebbal flyover, and the underpasses, the 18-20 km to M G Road can be easily covered. There are approximately 4,000-5,000 units under construction to be completed in two years’ time here.
Major demand for housing in south Bangalore comes from the IT/ITeS segment. The completion of the flyover from Central Silk Board to Hosur Road will boost residential development along this stretch through smooth connectivity. Koramangala, Madivala, BTM Layout, HSR Layout to Sarjapur-Outer Ring Road, and Kanakpura Road up to Metro in the south-east and in South Bangalore, areas from JP Nagar to Bannerghatta Park, including Vijaya Bank Colony, Meenakshi Temple belt are good for investments.
In the east, Marathahalli, Brookefields, and Whitefield are witnessing residential development. The easy commute from the east to the international airport through the Outer Ring Road and the signal-free junctions will see the emergence of the east and north as major residential and commercial hubs.
In the west, The Vijayanagar belt, Nagarbhavi, Bangalore University belt up to Rajarajeshwarinagar and Kengeri satellite town, are emerging as good places to investment. There is good social infrastructure with a host of educational institutions and hospitals. Jalahalli and Peenya have the potential for residential development since there will always be an inflow of workforce looking for homes nearby due to locality close to industrial areas.
Tags: Apartment, apartment buy-sell, Bangalore, Bangalore East, Housing India, indian real estate, investment, market trend, property, Real Estate India, residential property, Tips
Posted in Bangalore | No Comments »
Thursday, August 27th, 2009
Tax evasion was causing huge losses to the BBMP as people were avoiding paying crores of rupees. In the past, many Bangaloreans reduced the size of the buildings or commercial establishments or even knocked off one floor in a multi-floor building to reduce the property tax amount. If you’ve cheated while paying your property tax, you’re not going to get away so easily this time.
This year, BBMP roped in neighbors to get information about evaders. Informants were assured their identity would not be disclosed. This yielded great dividends and BBMP received about 20,000 tip-offs through emails alone. About 10,000 alerts came through letters and telephone calls. “GIS technology helped BBMP confirm the violations,”
BBMP used GIS to record details of assets which come under the tax net. Detailed maps are drawn showing the area of the plot, taxable areas and the tax details. The moment the owner pays the tax his payable details, paid details are tallied and details of tax evaded are calculated. The GIS mapping also shows details of nonpayment of tax and the list of payments. Even small evasions are shown by GIS.
Common complaints of tax evasion
- Residential sites used for commercial purpose
- Wrong zone where tax is less
- Building given for rent declared as own-use
- Reduced built-up area
All tax evaders will receive notices shortly. BBMP has fixed targets for BBMP officials to issue these notices. After issuing the notice, owners will be asked to reply and the final list of all tax evaders will be posted on the BBMP website. Tax evaders have to pay double the fixed tax with an interest of 2%.
Tags: Apartment, Bangalore, Bangalore East, bbmp, GIS mapping, indian real estate, property, property tax, property tax return, Real Estate India, tax evaders
Posted in Bangalore | No Comments »
Thursday, August 20th, 2009
Real estate sector always come up with innovative way to secure your investment. Buying a home is dream of common man and affordable housing has made dream come true. “Affordable housing” is a term used to describe dwelling units whose total housing costs are deemed “affordable” to those that have a median income.
Affordable housing denotes the basic human need for a comfortable home that offers value for money and cost is relative to the amount that the buyer can afford. Experts here suggest that homes costing no more than five times the buyer’s annual income can be considered affordable.
According to a Planning Commission Report, the urban housing shortage as in March 2007 was around 24.71 million and it will increase to 26.5 million by 2012. Ninety-nine per cent of this shortfall in housing is with regard to Economically Weaker Sections (EWS) and Low-Income Groups (LIG) which contributes to squatting and slum formation. Apart from the existing shortfall, the increasing urban population, which is expected to reach 576 million in 2030 from the current figure of 328 million, will add to the affordable housing demand.
Some developers have either shifted to affordable home projects or made some change in project to make their existing project fit for affordable home. If you already own a house, investing in a second property may not be a bad idea. You can get tax benefit on your second home. Buy a second house that meets your needs, available finances and lifestyle. The economic slowdown is proving to be a blessing in disguise for the common man, especially as far as housing is concerned.
Lower interest rate, construction cost and easy home loan makes investing or buying affordable home easy.The future of affordable housing for the next few years to come is indeed bright. Energies of all stakeholders are focused in the right direction to meet a common goal. Public-private partnerships will be a vital tool and the way forward to address affordable housing.
Tags: affordable home, Apartment, apartment buy-sell, Apartment India, Bangalore, Bangalore East, cut down, Home Loans, Housing, Housing India, indian real estate, market trend, property, Real Estate India, recession, Second homes
Posted in Apartment Buying | 1 Comment »
Wednesday, August 19th, 2009
The Karnataka land revenue bill 2009 seeks to regularize unauthorized layouts and house sites developed prior to December 31, 2008. The details of the regularization process will be drafted in the rules to be formed under the amendments to the Land Revenue Act. There are large number of people who had constructed houses in unauthorized layouts or on unauthorized sites and were not in possession of valid ownership documents.
The Karnataka land revenue bill 2009 seeks to regularize unauthorized layouts and house sites developed prior to December 31, 2008.
It is a one-time measure to provide relief to a large number of people who had constructed houses in unauthorized layouts or sites. Nearly five lakh persons have purchased such sites and built houses thereon and are facing undue hardships. This is a one-time comprehensive scheme subject to certain reasonable conditions.
The legislation seeks to regularize all unauthorized structures and even the layouts and house sites formed on revenue lands, which include agricultural lands. In a way, the regularization announced under the Revenue Act is another format of the Akrama-Sakrama scheme contemplated nearly two years ago and has been awaiting implementation. However, that scheme is only pertained to jurisdiction of BBMP while amendment of bill is applicable to all over the state.
Under the new legislation, unauthorized structures or sites in natural drains, on government lands, the applicant has no title, beneath high tension lines etc., will not be regularized.
The H.D. Kumaraswamy-led coalition Government had taken pains to implement the Akrama-Sakrama scheme in 2007 and it was then estimated that nearly six lakh unauthorized constructions in Bangalore would stand to benefit. Under the new legislation, some of the conditions include — unauthorized structures or sites in natural drains, on government lands, coming in the way of existing or proposed rings roads, national highways etc, belonging to another person over which the applicant has no title, beneath high tension lines etc., will not be regularized. Property owner with more than two floors have to produce a certificate from a structural engineer and a no-objection certificate from the Fire and Emergency Services Department.
Links to Refer:
Opposition for debate on Land Revenue Bill
Unauthorised layouts, sites to be regularised
Tags: Akrama-Sakrama scheme, Apartment, Apartment India, Bangalore, Bangalore East, bbmp, indian real estate, karnataka land revenue bill, market trend, property, Property Registration, Real Estate India, regularize unauthorised layouts, Tips
Posted in Bangalore | 1 Comment »
Saturday, August 1st, 2009
It is good time for home buyers, especially buyers looking for affordable home. The government has taken some positive step to boost realty sector. Tax holiday has been announced for ongoing infrastructure projects which were approved during 2007-08 and projects to be completed before 2012. Earlier, the provision was limited to only projects sanctioned before March 2007 and the project to be completed before March 2010.
The government has decided to reduce interest rate one per cent for one year on home loans less than Rs 10 lakhs for a house costing Rs 20 lakhs. The move is expected to boost realty sector and the realty sector is directly or indirectly support other sectors. This measure will have positive impact on economy.
The interest subsidy is aimed at mid-segment housing loan borrowers. One caveat is the cost of the house should not exceed Rs 20 lakhs. Also, the subsidy will be available only for one year. This interest subsidy will be routed through scheduled commercial banks and housing finance companies registered with NHB. A number of developers have been considering getting into this segment. The move to extend by two years the tax exemption available to builders of smaller homes is also likely to persuade builders to reduce the cost of such homes. The minister has urged the developers to pass the tax benefits to customers.
Working of One per cent subsidy
The government has decided to reduce interest rate one per cent for home loan up to Rs 10 lakhs for house costing Rs 20 lakhs, for one year. This means, if you take home loan for 9 per cent and your loan amount is less than Rs 10 lakhs to buy a house costing Rs 20 lakhs, you are eligible for one per cent subsidy.
The Bank deducts one per cent interest from your loan and collects only 8 per cent interest on your home loan from 9 per cent. The one per cent interest subsidy will be routed through scheduled commercial banks and housing finance companies registered with NHB. It means a one-time saving of Rs 7,596 for anyone who takes a Rs 10-lakh 20-year loan at an interest rate of nine percent, with the subsidy taking his effective interest rate down to eight percent.
Tags: Apartment, Apartment India, Bangalore, Bangalore East, Buying, Home Loans, Housing, Housing India, Housing Societies, income tax, indian real estate, market trend, property, Real Estate India
Posted in Bangalore | 2 Comments »
Monday, July 27th, 2009
BESCOM (Bangalore Electricity Supply Company Ltd) has announced the phone numbers of Superintending Engineers in and around Bangalore as helplines for registering monsoon-related complaints. In view of heavy rain in different part of state, BESCOM has will provide quick relief to public for restoring power supply and arrangement has been made for the same.
Citizen of Bangalore can register their complaints in case of electric poles or conductors are affected in rain. BESCOM will restore power supply as soon as possible after receiving complaint from public. The helplines in BESCOM Bangalore are as follows:
The phone numbers are:
- Bangalore: 223427019449844604 (North), 9449844605 (South)
- Tumkur :2278225, 9448279008;
- Kolar :222017, 9448279008
- Davangere :259210, 944879094;
- Chitradurga :222620, 9448279094
- Ramanagaram :7272866, 9448279007;
- Chikballapur: 270166, 9448279008
BESCOM applications for various purposes are available in its sub-divisions for all types of LT connection and in division offices for all types of HT connection. The applications for various purposes can be downloaded from BESCOM website http://www.bescom.org/
In some of its O&M subdivisions, official were refusing to register applications for new power connections under the pretext that applications were to be registered through licensed electrical contractors only. Instructions have been issued by BESCOM to field officers to accept applications submitted by customers directly.
If any official did not register the application or refuse to register new power connection, public can bring the same to notice of BESCOM vigilance on
- Superintendent of Police-office:- 22381838 and 9480625877;
- Deputy Superintendent of Police:-9448094801 and
- Executive Engineer, Vigilance:-9448094802
Links to Refer:
BESCOM announces helplines for monsoon-related complaints
Tags: Apartment, Bangalore, Bangalore East, Bescom, electricity, helplines, Housing, market trend, property
Posted in Bangalore | 2 Comments »
Tuesday, July 14th, 2009
Bangalore Citizen often confuse with Bangalore One and BBMP One. Earlier Bangalore One used to collect property taxes but in current Year property tax is collected only at BBMP One but people gather at Bangalore One centers to pay their property tax confusing BBMP One and Bangalore One as same.
“Bangalore One” center are run by the e-governance department and provides a host of citizen services from accepting payment of phone bills to booking of tickets. While “BBMP One” is re-christen of BBMP help centers mooted by ABIDe (Agenda for Bengaluru Infrastructure and Development) task force for providing BBMPs civic services.
Earlier Bangalore One used to collect property taxes but in current tax period 2009-10 BBMP has opened its own help center to accept the payment. Bangalore One and BBMP One sounds similar and citizen gather at Bangalore One to pay their property tax and turns irritated when they told they have to go BBMP citizen center to pay property tax for 2009-10.
Last Saturday, people gathered at Bangalore One to pay their property tax 2009-10 and turned irate when they told that they had to pay their tax at Palike Help Center. After this incident, Bangalore One centers posted notice stating property tax has to be paid at Palike Help Center.
BBMP officials admitted that it had caused quite a bit of confusion and the name was given only on ABIDe’s insistence. Now BBMP officials are calling BBMP One as Palike Help Centers or Contact Points to avoid confusion. Bangalore citizen can continue enjoying the service of Bangalore One from accepting payment of phone bills to booking of tickets except payment of property tax. BBMP accepts property tax for 2009-10 at BBMP One and also accept online at BBMP official site.
Links to Reference:
ABIDe Moots BBMP One Centres
Bangalore One- BBMP One Not One
Bangalore One
BBMP
Tags: Apartment, Apartment India, Bangalore, Bangalore East, Bangalore one, bbmp, BBMP One, citizen service center, indian real estate, property, property tax, property tax 2009-10, Real Estate India
Posted in Bangalore | 2 Comments »
