BARGAIN TIME FOR HOME BUYERS


The Real Estate Market might get stabilised by the beginning of 2018 after the lull due to demonetisation, GST and RERA.

The new launches have come down drastically.

The builders are offering 0% interest and host of other facilities and amenities to attract the Home buyers in Home Melas.

There are huge unsold stocks (apartments and sites) lying with all the builders and hence, by 2018, IT IS BARGAIN TIME.  The other benefits include decreased interest rates, but, it is beneficial for self-occupation.

The rent yield after deducting all expenses and taxes is between 1% to 5% P.A., but, if there is a dispute or litigation with the tenant, or there is a vacancy for few months, the rent yield will be wiped out and there will be a negative benefit.

High-end villas, Apartments, and Properties are not in much demand.  There is a moderate demand for the apartments in the ranges between Rs.25 lakhs to Rs.50 Lakhs.

It is also said that there are over 1,50,000 UNSOLD apartments and over 50,000 new ones are underway and thus a total stock of over 2,00,000 apartments remain unsold as inventory with the builders by the end of 2018, which will be a boon to homebuyers to negotiate and bargain the best prices ever at a cheaper interest rate.

DO NOT BUY UNAUTHORISED APARTMENTS, B KATHA APARTMENTS, ILLEGAL BUILDINGS AND NEVER TRANSACT WITH AGENTS WITH CRIMINAL BACKGROUND.

There are tooooooooo many offers ONLINE and beware and be careful to transact with such sellers/agents.

For safe buying:

1). Choose RERA approved projects.

2). Buy and transact directly with reputed builders who have a very good rating and goodwill.

3). There are toooooo many agents, trying to sell on behalf of these leading builders, but they have a percentage of profit. Avoid them for your own sake.

4). Transact or contact RERA APPROVED AGENTS. Check for their background before contacting them. Do not contact Agents with political contacts and criminal background.

5). All the negotiation, transaction and payments only through CHEQUES OR ONLINE and obtain receipts for the same.  

6). Do not sign any MOU or Agreement before the completion of the entire process.

7). Never make any payment to anyone before the completion of the entire process of the sale agreement.

8). NO CASH TRANSACTION OR DO NOT BUY ANYTHING FOR CASH or PAY CASH TO ANY PERSON OR MARKETING FIRM OR BUILDER OR AGENT.

9). Conduct a thorough and diligent examination and verification of all the title documents and approvals, before entering into any AGREEMENT.

10). NEVER BUY B KATHA PROPERTIES, because it is cheap or comparatively cheaper than the others, but there WILL BE A CATCH

AKRAMA – SAKRAMA – UPDATE – A NEW YEAR GIFT FROM THE GOVERNMENT FOR THE REGULARISATION OF VIOLATION AND DEVIATION


AKRAMA – SAKRAMA – UPDATE – A NEW YEAR GIFT FROM THE GOVERNMENT FOR THE REGULARISATION OF VIOLATION AND DEVIATION

The Government of Karnataka will notify the AKRAMA-SAKRAMA Scheme, may be from 02-01-2017 and the applications can be submitted till April, 2017.

In a bid to thwart any attempt to bring in a STAY ORDER, the Government has submitted a CAVEAT in the Supreme Court of India.

The Scheme will be enforced subject to the Supreme Court directives.

It is estimated that there are over 10,00,000 properties which have deviated from the sanctioned building plan and over few lakh sites which are in the revenue belt and DC Converted in unauthorised layouts.

B katha sites, if, eligible can regularise and the buildings with a deviation and violation of 50% in case of residential buildings and 25% in case of commercial buildings can be regularised under this scheme.

The state government on Saturday decided to invite applications from property owners for regularisation of illegal properties within the limits of the Bruhat Bangalore Mahangara Palike (BBMP).

A high-level meeting of BBMP, BDA and Urban Development department chaired by CM Siddaramaiah resolved to give four months time to the public to submit their applications for regularisation.

The state government, after resolving a few technical issues within the scheme, has finally decided to issue an official notification inviting applications from the public. Addressing media persons, Bengaluru Development Minister KJ George said, “The government has set a deadline of four months to submit applications by the public. Those properties built before 19 October 2013 are eligible for regularisation.” Elaborating further, George said, “There will not be any change in the fee structure which is based on the guidance value of the property.

All residential properties with 50 per cent deviation and commercial properties with 25 per cent deviation will be eligible to apply under the scheme.

Public can submit their applications online as well as manually at BBMP offices. Any property, which has deviation and had failed to apply under the scheme, will be mapped and mercilessly demolished after the end of the deadline.”

 

 

UPDATE ON AKRAMA AND SAKRAMA


The Bangalore City Minister, The Commissioner, BBMP and officials held a meeting and discussed about the process and procedures to enforce the Akrama – Sakrama scheme and it was learnt that the cut-off date may be extended and the 2013 (old) guidance value may be set as the value parameter and the procedures to be adopted for the regularisation.

If the VIOLATERS, does not submit the application within 3 months, the Government may cut off power and water supply to such properties, to pressurise the violators to tow in the line.

 

Conversion of B katha to A katha


The B Katha owners are very lucky that the katha is being regularised or converted to A katha and are thinking, just by paying the charges, it could be done.

Wait and follow the procedures.

The Government is coming out with the new notification and guidelines soon.

Every B katha cannot be regularised or converted.  Only those eligible are regularised.  Even, if the katha is regularised, based on misrepresentation of facts or lies or false declarations, it will STANDS CANCELLED, once it is scrutinised.

AKRAMA – SAKRAMA UPDATE


The Government may notify the scheme with complete details in a fortnight, making changes of the date from which the notification will come into effect.

Majority of the B kathas will be regularised.  But, Majority of the buildings which have large scale violation beyond the prescribed limits CANNOT BE REGULARISED, even if they have A katha, obtained by misrepresentation of facts and false details.

But, the scheme will be challenged in the Supreme Court by the interested parties.

 

REGULARISATION OF B KATHA – IF IT IS LEGAL AND DC CONVERTED


B-Katha can be regularised under the Akrama Sakrama Scheme,  if it is legal and if it is DC Converted for Residential use(Genuine) and get A katha in BBMP limits.

We provide comprehensive service for multiple sites or layouts conversion or regularisation of B Katha Sites and properties (Genuine owner, Genuine Title, Clear documents, without litigations) to A Katha. No Free Queries and No Free Consultations.