REVISED GUIDANCE VALUE – SOON!


THE GOVERNMENT IS KEEN ON REVISING THE GUIDANCE VALUE OF THE PROPERTIES IN AND AROUND BANGALORE AND MIGHT BRING IT TO THE MARKET VALUE/PRICE SOON.

THE BUYERS WHO HAVE ALREADY BOOKED THE APARTMENTS/VILLAS/SITES IN PRELAUNCH OFFERS AND THOSE WHO MIGHT BE REGISTERING IT BY THE END OF JULY,2013  WILL HAVE TO BEAR  ADDITIONAL BURDEN OF STAMP DUTY AND REGISTRATION FEE BETWEEN  2% 10% DEPENDING UPON THE VALUE OF THE PROPERTIES.

THERE IS A CLEAR CUT INDICATION THAT THE REVISION OF VALUES WILL BE BETWEEN 20% TO 200%. 

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WHY SCRUTINY AND EXAMINATION OF PROPERTY DOCUMENTS AND VERIFICATION OF THE TITLES REQURIED?


It is advised to conduct a thorough scrutiny/examination of the property documents, licenses, approvals, katha and related clearances from an expert advocate, before entering into an agreement of sale.

The Sale Agreement and The Sale Deed are very important documents, which must be drafted with utmost care and all relevant details regarding the acquisition of the property, flow of titles, approvals, consideration, conditions and clauses must be incorporated as per the prevailing and enforceable laws.

The entire exercise of this examination is to ensure that the titles are in order and also to avoid the futuristic litigation.  But, this process, if diligently conducted, will provide a picture of the property titles, whereupon the purchaser can decide either to buy or to withdraw from the purchase, based on the report or opinion.

The Advocate cannot/might not promise or assure that there will not be any future issues or litigation. 

The Advocate  can study, scrutinise and examine the documents submitted and explanations given/provided by the seller and REPORT HIS VIEWS OR FINDINGS to the purchaser.  Based on such a report/view/opinion, the purchaser can decide, whether to buy it or not.

This study and examination is intended to avoid buying properties with defective titles or properties with discrepancies.

UNTOLD HORRORS OF XXX & XXXXXXXX (XXXXXX CONSTRUCTIONS) -THE BOMBER COMMAND !!!


THE GREATEST DEVELOPERS AND BUILDERS WILL NOT PROVIDE THE DOCUMENTS FOR BUYERS AS THEY CONTAIN ATOM BOMBS !!!!!!!!!!!!!!

YES.

IT IS TRUE.

THEY HAVE BOMBED THE HOPES OF MANY DECENT AND HONEST BUYERS!!!!!!!!!

THEY HIDE, CONCEAL AND IN A BID TO DECEIVE, DOCUMENTS ARE NOT SUBMITTED FOR LEGAL EXAMINATION AND VERIFICATION AND THE BUYERS MUST BUY IT BY INSPECTING THE XEROX COPIES. THEY DO NOT HAVE THE ORIGINALS.

THE MARKETING `L` BOARD GUYS ARE NOT AWARE OF ANY OF THE REPORTED DISCREPANCIES AND CRIMINAL CASES ON THE PROPERTIES WHICH THEY MARKET WITH GREAT FUN AND FARE. IT IS FUN FOR THEM AND FARE FOR THE BUYERS. BUYERS ARE SCARED ABOUT THESE DEVELOPERS CONTACT WITH XXXXXXXXXXXX.

HOW DID THE BANKS APPROVE THESE PROJECTS?

DID THE BUYERS QUESTION THESE BANKS?  NO

SANCTION OR APPROVAL OF BANK LOAN DOES NOT CONFER ANY RIGHT, TITLE AND INTEREST. 

IN CASE OF LITIGATION, THE BANK WILL NOT WAIVE THE LOAN. IF THE BORROWER DISPOSSESS THE PROPERTY OR IF THERE IS A LONG DRAWN LEGAL BATTLE ON THE TITLES, THE BANK WILL STILL RECOVER THE LOAN FROM THE BORROWER WITHOUT ANY MERCY, UNLESS THE BORROWER DECLARES INSOLVENCY

 

 

BUYING AN APARTMENT – FREE GIFTS


A CRUEL JOKE ENACTED ON THE BUYERS OF THE APARTMENTS AT BANGALORE:

BULLET PROOF VESTS AND PISTOLS ARE OFFERED AS GIFTS FOR THE PURCHASE OF PROPERTIES/APARTMENTS AND ADDITIONAL BONUS FREE GIFT IS LIFE LONG LITIGATION.

TODAY`S NEWS REPORT IS THE CLEAR INDICATION THAT SOME BUILDERS ARE ENGAGED IN SUCH (ILLEGAL)ACTIVITIES AND ARE FIGHTING FOR GOVT LANDS/RAJA KALUVE!!!!! SOME OF THEM HAVE ENCROACHED THE GUTTER/SEWAGE DRAIN TOOOOOOOO  !!!!!!!!!!!!!!!!!!!!!

BUILDER`S ANTICS & TACTICS AT BANGALORE


AS IT IS SAID, THE VIOLATIONS AND IRREGULARITIES ARE A WAY OF LIFE FOR CHEATS AND FRAUDS, EVEN THE GENTLEMEN `BUILDERS AND DEVELOPERS` ARE TAKING SHELTER UNDER THIS UMBRELLA. 

WHEN ILLEGALITIES/VIOLATIONS AND NON COMPLIANCE TO THE PREVAILING LAWS ARE BROUGHT TO NOTICE OR INTIMATED WITH SUPPORTING DOCUMENTARY EVIDENCE, THE OWNERS/SELLERS/DEVELOPERS, CORNERED WITH THE TRUTH AND FACTS, THEY RESORT TO LOTS OF ANTICS AND GIMMICKS: READ FEW SUCH STATEMENTS:

A)WE ARE LEADING BUILDERS AND DO NOT HAVE THE INTENTION TO CHEAT!!!(FALSE)

THE TRUTH IS:

THEY SUBMIT DOCUMENTS EITHER FAKE/TAMPERED/IRRELEVANT/MISREPRESENTED TO OBTAIN THE CLEARANCES FROM THE STATUTORY GOVERNMENT AUTHORITIES WITH A CLEAR INTENTION TO DECEIVE OR COMMIT FRAUD FOR BONAFIDE BENEFIT OR FINANCIAL GAIN.

B)WHEN PROVED, THAT THEIR DOCUMENTS OR LICENSES ARE NOT LEGAL OR REGULAR OR NOT AS PER LAW:

THEY TRY TO PROVIDE IRRELEVANT DETAILS AND CONTEND THAT IT IS THE LAW.

C). THE BANKS HAVE CLEARED OR APPROVED THE PROJECT, HENCE, THERE IS NO NEED FOR ANY LEGAL INVESTIGATION OR THE TITLES ARE ABSOLUTELY CLEAR.

NO.  IT IS NOT TRUE. BANK LOAN SANCTION WILL NOT CLEAR THE IRREGULARITIES/VIOLATIONS AND CONFER GOOD MARKETABLE TITLES. (AS PER THE DIRECTIVES OF THE RBI, THE BANKS CANNOT AND MUST NOT FINANCE OR LEND OR SANCTION HOME LOANS TO PROPERTIES WHICH ARE NOT CONSTRUCTED AS PER THE BYE LAW OR THE SANCTIONED PLAN AND HAVE IRREGULARITIES)

D). FINALLY, WHEN THEY ARE CORNERED AND DO NOT HAVE ANY ALTERNATIVES (LIES) TO SAY.

THEY SAY, THIS IS WHAT WE HAVE!!!!!!!!!!!!!!!!!!!

IF YOU WANT, YOU BUY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

IRREGULARITIES, VIOLATIONS, MISREPRESENTATON OF FACTS & CONCEALMENT OF FACTS BY TOP BUILDERS AT BANGALORE


IT IS NOTICED THAT IRREGULARITIES, VIOLATIONS, DEVIATIONS, MISREPRESENTATION OF FACTS, CONCEALMENT OF MATERIAL FACTS AND IRRELEVANT DOCUMENTS ARE SUBMITTED TO THE GOVERNMENT AUTHORITIES AND ALL THE BOARDS ETC TO OBTAIN THE LICENSES, APPROVALS, NOC AND CLEARANCES HAVE BECOME A PART AND PARCEL OF THE REAL ESTATE AND CONSTRUCTION BUSINESS.  OF LATE, EVEN, THE SO CALLED, TOP  BUILDERS ARE ALSO INTO  THIS KIND OF ILLEGITIMATE PRACTICE.

UNSUSPECTING HOME BUYERS, UNAWARE OF THESE INTRINSIC DETAILS, HAVE NEVER GO FOR INVESTIGATIONS IN TO THESE APPROVALS, NOC, CONSENT AND LICENSES. THE BUYERS ARE HAPPY, IF THEY GET THE HOME LOAN SANCTIONED AND ARE NOT WORRIED ABOUT THIS IMPORTANT ASPECT OF THE PROJECT OR THE CONSTRUCTION.

IT IS ALSO FURTHER NOTICED THAT IT IS WITH CLEAR INTENTION TO DECEIVE OR TO COMMIT FRAUD, DETAILS ARE CONCEALED OR HIDDEN OR MISREPRESENTED TO OBTAIN THESE CLEARANCES.  IF THESE IRREGULARITIES/VIOLATIONS/FALSE REPRESENTATIONS ARE BROUGHT TO THE NOTICE OF THE AUTHORITIES, THE LICENSES/APPROVALS/CONSENTS/NOC FROM THE GOVERNMENT DEPARTMENTS STANDS AUTOMATICALLY CANCELLED OR STANDS WITHDRAWN.

THE PROPERTY BUYER, WHO LAYS THE EMPHASIS ON THE GOODWILL OF THE BUILDER, REALISES HIS FOLLY, WHEN SUCH IRREGULARITIES ARE BROUGHT TO THE NOTICE AND ACTION TAKEN.  BUT IT IS TOO LATE FOR THE BUYER TO GET OUT OF IT.

IMMEDIATELY UPON SUCH DISCOVERY, A GROUP OF THE AFFECTED BUYERS WILL FORM A GROUP TO FIGHT/CONTEST THE PROCEEDINGS INITIATED BY THE AUTHORITIES,  WITHOUT THE SIMPLE KNOWLEDGE ABOUT THE ILLEGALITIES/VIOLATIONS/BLUNDER COMMITTED BY THE SELLER/BUILDER/DEVELOPER , UNDER THE DISGUISED LEADERSHIP OF THE BUILDER`S/SELLER`S/OWNER/`S AGENT TO RESOLVE THE ISSUE.

STAMP DUTY AND REGISTRATION FEE FOR PROPERTIES IN BBMP LIMITS


STAMP DUTY: 6.72% OF THE GUIDANCE VALUE OR THE CONSIDERATION AMOUNT SHOWN IN THE SALE DEED,WHICHEVER IS HIGHER.

REGISTRATION FEE: 1% OF THE GUIDANCE VALUE OR THE CONSIDERATION AMOUNT SHOWN IN THE SALE DEED,WHICHEVER IS HIGHER.

TOTAL: 7.72%.

IT IS APPLICABLE FOR SITES, HOUSES, APARTMENTS AND ALL TYPES OF PROPERTIES.