Write at Apartment-Bangalore.com

Posts Tagged ‘News’

How about a honeymoon in Space?

Monday, June 21st, 2010

Once the ambitious ‘Space City’ materializes, space would be just 100Km from Bangalore. The Space City focuses on boosting real estate, hotels and hospitality, leisure and tourism sectors. It will have UFOs, galaxy-shaped shuttle station, a virtual museum and star hotels. The project, which is expected to provide employment to 20,000 people, has been planned to be pollution-free. Once a person enters the city, he will have to travel around either by monorail or electric cars.

How about a honeymoon in space? The honeymooner space luxury would be available in various categories, three star to six star hotels. All this would be a reality once the ambitious ‘Space City’ materializes. The journey for the Space City began on Saturday, with the state government’s high-level clearance committee on investments, headed by chief minister B S Yeddyurappa, giving its in-principle approval.

The project promoter is Marib Infrastructure India Private Limited, a joint venture of Abu Dhabi and Malaysian firms. Sheik Sultan Bin Mohd Bin Khalid Al Nahyan, a member of Abu Dhabi’s royal family and one of the main promoters of Marib Group, is expected to arrive in Bangalore by next month-end for project consultations with the state government.

The ambitious ‘Space City’ to come up on a sprawling 1,600 acres at a whopping Rs 18,500 crore investment at Bagepalli in Chickballapur district, it will be the first of its kind in the country. The project, which is expected to provide employment to 20,000 people, has been planned to be pollution-free.  The project combines unique, futuristic themed and varied project components. It will have science and technology park, exhibition centres, malls and media-linked events. Besides, the project will fill the space for the real estate needs.

It will be a state-of-the-art multi-functional educational, entertainment project focusing on science, technology, innovation, art, design, ecology and entertainment among others. Land acquisition and water would be the two challenges for the project. However, as it is a dry area, land wouldn’t be a problem. The government has suggested to the project promoter to go in for rainwater harvesting, zero discharge and utilization of treated water.

Source: Times of India


Tags: , , , , , , , , , , ,
Posted in Bangalore, News | No Comments »

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.


Tags: , , , , , , ,
Posted in News | No Comments »

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


Tags: , , , , , ,
Posted in News | No Comments »

Daughters have equal rights in property

Monday, March 22nd, 2010

Karnataka High Court on Friday upheld the Hindu Succession Amendment Act, 2005. A daughter is entitled to equal share like the son in the co-parcenary property and the marriage in no way affects her right to equal share in that property. This means those daughters born after June 17, 1956, when the parent Hindu Succession Act came into force, can challenge proceedings with regard to their coparcenary properties.

The division Bench headed by Justice N Kumar observed, Son is a son until he gets a wife, however a daughter is a daughter throughout her life. A married daughter is also a co-parcener and is entitled to equal share like the son in the co-parcenary property and the marriage in no way affects her right to equal share in that property. The daughters can challenge proceedings with regard to their coparcenary properties but cannot challenge where there is a registered partition deed and when a partition has reached finality in court by a final decree from the highest court.

Coparcenary is a type of co-tenancy where property descends to two or more persons on the death of the owner.Since the passing of the Hindu Succession Act, 1956 (‘the Act’), one issue which was constantly agitated by the liberals was regarding the right of a daughter or a married daughter in coparcenary property of a Hindu Undivided Family.

The amendment wants to give such rights from the day the Act came into force. This is the will of the people, the Bench observed.

Tags: , , , , , ,
Posted in News | No Comments »

Reduction in stamp duty is a boon

Friday, March 12th, 2010

In recent Karnataka budget 2010-11, the decrease in stamp duty is expected to cause some optimism among home buyers. Real estate sector is gradually becoming active and reduction in stamp duty in recent budget is boon for for those homebuyers or investing in real estate.

Stamp duty on Deposition of Title Deed (DTD) would be would be reduced to 0.10 per cent from previous 0.25 per cent subject to a maximum ceiling of Rs.50,000. For amalgamation and de-merger of companies, present rate of 5 per cent would be brought down to 3 per cent. One per cent duty would be imposed on papers of Transfer of Development Rights (TDR).

An appropriate amendments would be brought in to stop stamp duty evasion in transfer of apartments/flats. Stamp duty on Agreement to Sale to be modified from 0.25 per cent to 0.10 per cent subject to a maximum of Rs.20,000. After further simplifying of duty structure in respect of lease and license, Stamp Duty at the rate of 0.50 per cent will be imposed for a period up to 1 year subject to a maximum of Rs.500 for residential buildings. Stamp Duty would be imposed one, two and three per cent respectively for a period of one year to 10 years, 10 to 20 years, 20 to 30 years, based on average of one-year. rentals and advance

Stamp Duty and Registration Fee exemption

In the recent budget 2010-11, it is decide to exempt Stamp Duty and Registration Fee fully in respect of loan documents of rainwater harvesting units, houses built under Indira Avas Scheme and non-conventional sources of energy – like solar and bio-gas energy units. Stamp Duty and Registration Fee exemption will be granted in respect of documents transferring properties for public purposes, free of cost to local bodies and urban development authorities. Duty in respect of annulment of all kinds of documents will be simplified.

Tags: , , , , , , , , , , , , ,
Posted in News | 2 Comments »

Buying A Home and Home Loans get pricier

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: , , , , , , ,
Posted in News | 2 Comments »