PROPERTY SERVICES – ADVISORY SERVICES – LIAISON – IDENTIFICATION OF PROPERTIES – EXAMINATION AND SCRUTINY OF TITLE, REVNUE, SURVEY DOCUMENTS – VERIFICATION and SURVEY OF PROPERTIES – CHANGE OF LAND USE – LAY OUT APPROVAL FROM AUTHORITIES – REGISTRATION OF PROPERTIES – RESOLVE GENUINE LITIGATIONS –
The opposition parties demanded a discussion on the alleged illegalities and encroachment by DLF in Bangalore South and sent a request to the Speaker, which was rejected and the opposition raised the issue in the legislative assembly and was promised that their submission will be looked into.
It is further alleged that one powerful politician is involved in the entire dealing and transaction, which must be investigated into.
Another big project, promising heaven on earth, in Bangalore north is promoted by the same group and documents pertaining to the illegalities had already been released to the public and the complaints had been lodged with the concerned authorities for action. Since, the alleged person is a highly powerful, the authorities are scared to take any action, leave alone the investigation.
THE BUYERS OF THESE PROPERTIES WILL DEFINITELY TAKE A HIT EITHER TODAY OR TOMORROW.
THE INVESTORS AND BUYERS ARE WOOED BY THE BUILDERS WITH ALL UNWORLDLY AMENITIES, WHICH ARE NEITHER AVAILABLE NOR COULD BE USED BY THE BUYERS, COMING UP WITH PRE LAUNCH PROJECTS, ALL ACROSS BANGALORE.
THE UNSOLD INVENTORY (UNSOLD APARTMENTS/VILLAS/SITES) IS ALMOST TOUCHING A LAKH SOON AND THE DEVELOPERS ARE IN GREAT FINANCIAL TROUBLE OR MESS, WITH OFFERS ONLY ON THE BROCHURES, ONCE, THE PROPERTY IS BOUGHT, ALL THE GLAM GOES TO HELL. (AS IN THE CASE OF SALARPURIA SATTAVA GREENAGE).
THE PRESENT ECONOMIC SCENARIO FOR INDIA IS GOOD, WHEREAS THE GLOBAL SCENARIO IS UNDER SEVERE STRESS AND THE RECESSION MAY SETBACK AT ANY MOMENT, THE BEGINNING CAN BE HEARD, SEEN AND SOON FELT WITH THE ONSET OF GREECE`S MISERY.
THE BUYERS, WHO NEEDS A HOUSE TO LIVE IN, IS ADVISED TO BUY AND NOT TO BUY AS A PART OF INVESTMENT AT THIS JUNCTURE, EVEN THOUGH, THE INTEREST RATES ARE BEING REDUCED, THE REAL ESTATE MARKET APPEARS TO BE BLEAK FOR SOMETIME.
THE PRE LAUNCH PROJECTS OF ALL THE TOP BUILDERS ARE IN JITTERY AND THE SWEET TALK OF THE MARKETING TEAM COMPELS THE BUYERS WITH ALL SORTS OF UNWANTED AMENITIES, WHICH CAN NEVER BE USED BY THE BUYERS, AND ARE UNABLE TO PROVIDE ALL THE CLEARANCES AND DOCUMENTS PERTAINING TO THE PROJECTS EVEN AFTER ONE YEAR OF LAUNCH.
THE CRIMINAL ADJUSTMENT AND COLLUSION WITH THE BANKS (OFFICIALS) TO ISSUE A LETTER OF PRE APPROVAL IS SEEN AS AN ABETMENT TO LURE THE UNSUSPECTING BUYERS TO BOOK THE PROPERTIES.
THE PROJECTS ANNOUNCED BY THE BUILDERS LONG BACK, (2008 TO 2012) ARE YET TO BE COMPLETED AND HANDED OVER AND SOME OF THEM DOES NOT HAVE OCCUPANCY CERTIFICATE, SOME DOES NOT HAVE BASIC AMENITIES, SOME HAVE CONSTRUCTION DEFECTS AND SOME ARE UNDER LITIGATION.
HULIMAVU, BEGUR ROAD, BANGALORE SOUTH, WHERE THERE ARE THREE MAJOR RESIDENTIAL PROJECTS, LAUNCHED WITH FANFARE WAY BACK IN 2009 IS YET TO MATERIALISE. APART FROM DLF, THERE ARE OTHER BUILDERS IN THE SAME REGION/AREA, WHO HAD ENCROACHED THE RAJA KALUVE AND MISREPRESENTED THE FACTS ABOUT THE WIDTH OF THE ROAD AND TRIED TO GET MORE FSI OR FAR AND WAS CAUGHT AND ARE DRESSING THEIR WOUNDS.
BUT THE INNOCENT BUYER, WHO, BASED UPON THE BUILDER`S (MISQUOTED) CREDIBILITY AND COLOURFUL BROCHURE, BORROWED HOME LOAN/LOANS AND PAID THESE BUILDERS, ARE YET TO SEE THE LIGHT OF THE DAY OR GET THE POSSESSION OF THE APARTMENTS.
IN CASE OF ANOTHER BUILDER, THE CRIMINAL CASE INSTITUTED BY THE BMTF, JUST GOT OVER AND THE PLAINTS ARE THINKING OF ANOTHER SUIT AGAINST THIS BUILDER AND GOD ONLY KNOWS, WHEN HE WILL COMPLETE AND HAND OVER THE PROJECTS AS WAS DEPICTED IN THE BROCHURE.
ALL THESE BUILDERS ARE VIGOROUSLY MARKETING THEIR PRODUCTS AND THE INTERNET`S REAL ESTATE WEBSITES CARRY THE DETAILS (for money) EXCEPT THEIR MISADVENTURE AND NON DELIVERABLE PROMISES.
REAL ESTATE MARKET IS ABUZZ WITH LARGE QUANTITIES OF UNSOLD (COMPLETED) APARTMENTS AND THE RENTS ARE HALVED IN MANY AREAS.
NO WATER – NO ELECTRICITY – NO OCCUPANCY CERTIFICATE
ONLY FALSE PROMISES
FREE BALAJI DARSHAN AT BANGALORE
A NEWS REPORT IN PRAJAVANI, KANNADA NEWSPAPER ON 18-04-2015 CARRIED A PUBLICATION ON THE DLF MATTERS
Aggrieved buyers of flats in DLF Westend Heights New Town on Bannerghatta Road staged a protest demanding completion of the project and handing over of the flats. Though the project was launched in 2008, flats are yet to be handed over to buyers. Shyam Sundar, a naval officer posted in New Delhi and one of the buyers, alleged that the builder was supposed to hand over the flats in 2012. “Of 1,922 flats, only around 200 have been handed over to buyers over the past three months. However, these flats lack basic amenities.
The builder has been claiming that they will hand over the flats after getting Occupation Certificate (OC) from the BBMP,” he said. He said that in October 2011, the project cost was reduced from Rs. 534 crore to Rs. 264 crore. The number of flats was reduced from 1,975 to 1,922, but the built-up area was increased. Responding to the allegations, a DLF spokesperson claimed that the flats would be handed over in a phased manner from May-end. “We are in the process of applying for the OC from BBMP. The power connections will be given by early May, and work on water connectivity will be taken up on Saturday,” she added.
THE AGREEMENT HOLDERS/BUYERS/BOOKIES HAVE GATHERED BEFORE THEIR (DLF) SITE OFFICE AT AKSHAY NAGAR, BEGUR TO PROTEST AGAINST THE BUILDER FOR NOT HAVING DELIVERED THE POSSESSION OF THE APARTMENTS, WHICH WAS DUE TO BE DELIVERED IN 2012.
IT IS A WELL KNOWN FACT THAT THE BUILDERS PLAY MISCHIEF WITH THE BUYERS AT THIS STAGE TO MAKE A KILLING.
MOST OF THE PRE LAUNCH PROJECTS FACE THE SIMILAR FATE, AS THE CURRENT PRICES ARE VERY HIGH, IF THE BUYER CANCELS THE AGREEMENT OR WITHDRAWS FROM THE PURCHASE, THE BUILDER WILL MAKE HUGE PROFITS. IT IS ESTIMATED THAT THE PROFITS ARE OVER 50% ON THE PRICE BOOKED IN 2009 AND 2010.
THE BUYER/BOOKIES ARE IN CATCH 22 SITUATION, IF THE BOOKING IS CANCELLED, THEY LOOSE NOT ONLY THE INTEREST AND ALSO 10% TO 20% OF THEIR INVESTED OR PAID MONEY AND THE BUILDERS USE IT FOR THEIR BENEFIT.
ANOTHER FREE LUNCH PROJECT (MEGA PROJECT) WITH REGULAR ADVERTISEMENTS IN NEWSPAPERS AND IN ELECTRONIC MEDIA IS TRAPPING MANY GULLIBLE INVESTORS AND BUYERS WITH COLOURFUL BROCHURE AND SWANKY OFFICE BUT WITHOUT CLEAR TITLES, APPROVALS AND LITIGATIONS.
ALL THESE PROJECTS HAVE BEEN APPROVED BY MAJOR BANKS, EVEN THOUGH, THERE IS VIOLATION, DEVIATION AND LITIGATION BOTH CIVIL AND CRIMINAL.
IT HAS TO BE SEEN WHETHER THIS WILL BE ANOTHER SUCCESS OR FLOP.
THERE IS NO FREE LUNCH, THERE IS ONLY A PRE LAUNCH, ONLY FOR THE BUILDERS !!!!!!
THE HONEST AND GENUINE BUYERS OF APARTMENTS/FLATS WILL BE IN FOR ROYAL JOLT, IF THEY CHECK THE CREDENTIAL OF THE BUILDERS/DEVELOPERS REGARDING TAX COMPLIANCE.
MAJORITY ARE TAX EVADERS AND IF FOUND OUT, THEY WILL ELIMINATE THE OFFICER AS THEY DID TO LATE.D.K.RAVI. IT IS THE LAND/BUILDERS MAFIA.
THEY MUST BE INVESTIGATED BY THE COMMERCIAL TAX DEPARTMENT, INCOME TAX DEPARTMENT, ENFORCEMENT DIRECTORATE, SERIOUS FRAUD INVESTIGATION OFFICE, BANGALORE METROPOLITAN TASK FORCE, COD AND THE CENTRAL BUREAU OF INVESTIGATION, JOINTLY AND ALL OF THEM WILL BE BEHIND BARS FOREVER FOR CHEATING, FRAUD, MISREPRESENTATION OF FACTS, TAX EVASION, FRAUDULENT MANIPULATION, FORCED OR COERCED PURCHASE OF LANDS FROM INNOCENTS.
IT IS SUSPECTED THAT BUILDERS (MAFIA) AND A SMUGGLER TURNED JEWELLER ALONG WITH A POWERFUL POLITICIAN BEHIND THE KILLING OF LATE.D.K.RAVI.
THE COMMERCIAL TAXES DEPARTMENT HAS WOKEN UP AND RAIDED SEVERAL BUILDERS LIKE MANTRI, DS MAX, EMBASSY AND NITESH AND COLLECTED OVER 140 CRORES IN THE ARREARS OF VAT COLLECTED BY THESE BUILDERS FROM THE BUYERS OF THE PROPERTY.
IT IS TO BE NOTED THAT THESE BUILDERS COLLECT THE VAT OR COMMERCIAL TAX FROM THE BUYERS, IN THE EMI AND NEVER PAID IT TO THE GOVERNMENT.
FURTHERMORE, THERE ARE MANY SMALL TIME DEVELOPERS WHO ARE ABSCONDING OR ADDRESS LESS NOW OR WILFUL AND DELIBERATE TAX EVADERS HAVE NOT BEEN BROUGHT INTO THE NET.
IF THE DEPARTMENT ACTS DILIGENTLY, IT CAN COLLECT OVER RS1000/- CRORE OF THE TAX PAID BY THE BUYERS OF THE PROPERTIES.
MAJORITY OF THESE LEADING TAX EVADERS HAVE NOT ISSUED VAT BILL-TAX BILL- TO THE BUYERS OF THE PROPERTY.
ANOTHER GREY AREA WHERE SERVICE TAX PAID BY THE BUYERS OF THE PROPERTY HAS BEEN MANIPULATED AND TAXES COLLECTED HAD NOT BEEN DEPOSITED WITH THE DEPARTMENT.
IT HAS BEEN WIDELY REPORTED THAT THE COMMERCIAL TAXES DEPARTMENT HAS INITIATED PROCEEDINGS AGAINST THE REALTY MAJOR `xxxxx` AT BANGALORE FOR THE RECOVERY OF TAXES ON ITS PROJECTS ON DEVANAHALLY ROAD AND OTHER AREAS.
AS REPORTED EARLIER, NOTICES HAD BEEN ISSUED TO FEW REAL ESTATE COMPANIES IN BEGUR, BANNERGATTA ROAD AND THE DEPARTMENT IS INVESTIGATING INTO THE AFFAIRS OF THE OTHER DEVELOPERS, WHO HAD MANIPULATED THE ACCOUNTS TO EVADE VALUE ADDED TAXES.
ANOTHER MAJOR REAL ESTATE COMPANY WHICH HAD BEEN SLAPPED WITH A NOTICE OF ABOUT RS10 CRORES BY THE DEPARTMENT, MAY SEIZE/ATTACH THE BANK ACCOUNT SOON.