INCOME TAX DEPARTMENT, SERIOUS FRAUD INVESTIGATION OFFICE, ENFORCEMENT DIRECTORATE AND ANTI MONEY LAUNDERING UNIT ARE EXAMINING FEW DEVELOPERS AND BUILDERS ALLEGED TO HAVE LINKS – A NEWS REPORT


A local news report highlighted the alleged tax evasion, illegal activities, prosecutable transactions, money laundering and BENAMI property acquisition and subsequent sale of the properties through this DEVELOPERS AND BUILDERS.

There are serious allegations around few hundred crores only against builders and developers along with a govinda jeweller- benami investment.

Three such names have appeared, but are (innocents and suspects) till they are convicted.

One such leading builder and developer, who has projects across India is associated with a relative of a famous politician and one such major project in Bangalore is marketed with much fanfare, but the buyers are not aware of the BACKGROUND of this Developer in North Bengaluru.

The other two are from a nearby state and any day or someday when LUCK runs out, will be a good SUBJECT for state enquiry and investigation either by CBI or ED or SFIO, ITO or DRI under various sections of the IPC.

Hope common sense prevails and buyers check the antecedents of all the concerned while buying properties.

 

DEFAULTING DEVELOPERS – approximately Rs.1 billion !!!!!


A press report in a leading daily highlight the LOAN DEFAULTED DEVELOPERS AND BUILDERS, who are on the verge of severe financial crisis, which will have an impact on the BUYERS OF PROPERTIES, who have already booked the apartments, villas, and sites.

Only a few such instances and incidents have come out and many are in severe financial distress, which might or cannot be redressed.

Few of them have RERA approval-!!!!!!

Beware and Be careful not to jump and dump hard earned money without proper scrutiny and investigation.

APARTMENT FOR SALE AT PRIME LOCATION AT BANASHANKARI 3 STAGE, 3 PHASE,`STERLING TERRACES`


An apartment measuring 2,200 sft (SBA) Approximately, well maintained with good interiors, 10 years old, STERLING TERRACES BSK 3rd Stage, 3rd Phase is for sale from the owner.

The Property has Occupancy Certificate. Up to date tax paid.  Latest Katha Certificate and Katha Extract available. No Loans.  No violation. No Deviation.  Very good community. No litigation.

Well maintained apartment complex in the entire BSK 3rd Stage.

AVAILABLE FOR SALE.

NO BROKERS AND NO AGENTS.

CONTACT:

ecopackindia@gmail.com

9342816151

9980866144

NEW TREND IN WORK AND LIVING AT METROS-ESPECIALLY IN A VEHICLE (LOADED) CROWDED BENGALURU


The industrial, commercial and IT hub employees are planning to shift or live in places close to the offices or factories or commercial hubs to SAVE time in commuting and to SAVE money.

Travelling to a far-off office has become a nightmare in Bangalore and employees face the brunt from pollution, travelling time and expenses.  In a bid to reduce travelling or commuting time and expenses are planning to shift or relocate their houses, if possible, nearer to or closer to their workplace.

Hence, the demand for apartments, houses and villas near the industrial, commercial and IT hub has increased and the incentive is in the form of PRICES OF PROPERTIES, in and around the area, along with connectivity has boosted the stagnant realty market.

PG Accommodations, on the other hand, are doing well in these areas.

Apart from changing the location, safety and security are also very important and the buyers must also be very careful about the location.

The realty market is not upbeat and all the builders and marketing agencies are planning new techniques to dump or dispose of their unsold inventories in the market, but are finding it very difficult to clear it.  New marketing strategies are evolved, but, not encouraging.

The Exchange Scheme offered by one of the builders appears to the first of its kind in Bangalore and is being sought after, as the builder has good market standing.

On the other hand, RERA has given a jolt to the small time operators and many scrupulous agents.

FEW GUIDELINES:

DO NOT EVEN THINK OF BUYING A PROPERTY WITHOUT RERA APPROVAL.

DO NOT EVEN THINK OF BUYING AN ILLEGAL OR UNAUTHORISED OR IRREGULAR PROPERTY, BECAUSE, IT WAS OFFERED – CHEAP.

DO NOT BUY B KATHA.

CHECK A KATHA, AS SOME KATHAS WERE AND ARE ILLEGAL AND ISSUED ON MISREPRESENTATION.

 

 

New Marketing Strategy for the sale of Properties in Bangalore-EXCHANGE !!!!!


NEW SCHEME-EXCHANGE OLD PROPERTY FOR NEW ONE

Loan Mela and Housing MELAS were arranged by the sellers/marketing agents/developers to boost the sale of the unsold inventory in the real estate market of Bangalore, Now, a new entrant with EXCHANGE of old properties with new apartments are being offered by a leading developer.

It is a good sign.  The Government on its part has increased the housing loan benefit for the affordable housing from Rs.25 lakhs to Rs.35 Lakhs.  This benefit along with income tax benefit under 80C must boost the sale and now, a middle-class family can have their own roof at a reasonable price.

RERA Karnataka is doing their bit to provide the clear titled property with proper approvals.

It is said that there are over 1,00,000 + apartments lying vacant in and around Bangalore and Bangalore is the only city, where the prices of the property have stabilised.

B Katha property, gram panchayat property may not be considered for the EXCHANGE.

Many leading builders with clear titles are offering their projects to the buyers, but are too far from the workplace.

Beware of prelaunch.  Never buy B Katha or illegal or buildings with violation and deviation.

The RBI might be coming up with a serious note and direction to the banks NOT TO PROVIDE FINANCIAL ASSISTANCE FOR PROJECTS WITHOUT RERA APPROVAL AND CC AND OC.

Illegal layouts and construction have come down drastically in the last two years.

The real estate market appears to be little BUYER FRIENDLY NOW.

Removal of encroachment of Raja Kaluve and Lakes will be taken up on priority


The New Government has already initiated the process of removing the encroachment across all Raja Kaluve and Lakes within the city’s perimeter and the process of identifying the leftover clearing will be taken up.

 

APPROVED SITE FOR SALE AT DEVANAHALLI


Satelite Town Ring Road Planning Authority (STRRPA)(Planning Authority) approved site for sale at Devanahalli.

Extent: 1,200 Square Feet approximately.

Seller: Developer.(Direct Negotiation)

Price: Rs.1,900/- Slightly negotiable.

Very close to Brigade orchids and the village.  Very good approach road.  Close to Cargo Road.

Bank Loan is available as the property is DC Converted, Approved by planning Authority and with E-KATHA IN FORM NO.9 AND FORM NO.11.

Buyers must conduct a thorough and diligent enquiry into all the aspects of the property.

Interested may contact us at:

ecopackindia@gmail.com

ecopackindia@live.com

ecopackindia@yahoo.com

Seriously interested may call between 11-00 A.M. to 5-00 P.M.

9342816151

9980866144