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Old 16th September 2014, 07:26   #1516
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Default Re: The Property / Real Estate Thread

Akshay 380, this was cut off date for the date of completion of "violations" by the property owner. this was probably later extended to 31-03-2014 by the current government. Thankfully, the High Court has not yet permitted this scheme to be implemented. But I am not sure of the legal position as on date. As soon as the next headline on this appears, I'll post again with all my facts right : )


edit : these are the latest developments reported in the press:


1)

the link: http://www.deccanherald.com/content/...cted-bmpc.html

20 members elected to BMPC


As a major step to facilitate the implementation of the Akrama-Sakrama scheme, 20 members were elected unopposed to the Bangalore Metropolitan Planning Committee (BMPC) on Monday.

The committee was constituted based on the High Court direction on a petition by C N Kumar. The High Court had ordered the government to constitute BMPC ahead of implementing the Akrama-Sakrama scheme. The elections were conducted at the office of the Regional Commissioner Gaurav Gupta and all the parties had fielded candidates after arriving at a consensus.

The twenty members include 10 BBMP corporators from BJP – Dr Geetha Shashikumar, B Govindaraju, A H Basavaraju, G Manjunath Raju, Dr S Raju, B S Manjunath Reddy, C K Ramamurthy, S N Sridhar Reddy and P N Sadashiva. The committee has six congress members – M K Gunashekar, K Doddanna, Devika Rani Sridhar, Udayashankar, O Manjunath and R S Sathyanarayana, and two JD-S members – Thimme Gowda and L Nagarathna.

Election of 20 members was a major hurdle for the formation of the committee since other members are nominated by the State government.

2)


the link : http://www.deccanherald.com/content/...ng-akrama.html

Govt sets ball rolling on Akrama Sakrama in City, suburbs
Election to 18-member BMPC to be held on Sept 16
Paving the way for implementation of the Akrama Sakrama scheme in Bangalore and its suburbs, the State government has initiated the process of holding elections for constituting the 18-member Bangalore Metropolitan Planning Committee (BMPC) as ordered by the High Court of Karnataka.

All sitting corporators of the BBMP, chairpersons and deputy chairpersons of zilla, taluk and gram panchayats in the Bangalore Metropolitan Area (BMA) will elect 18 members from among themselves for the BMPC. The election is scheduled for September 16. Panchayat chairpersons and deputy chairpersons can elect two members.

Following the High Court order that the Akrama-Sakrama scheme cannot be implemented unless BMPC was formed, the government had instructed the Bangalore Regional Commissioner to initiate the process of forming the BMPC in its letter dated August 25, 2014.

The High Court had given the order on a petition by C N Kumar, who had questioned the validity of Section 14(A) of the Karnataka Town and Country Planning Act that empowers the State to allow usage of land for purposes other than that earmarked in the development plan.

As per the schedule of events, on September 15, nominations will be received, scrutinised, back nominations received, final declaration of candidates for election and announcement of results if elected unopposed. If the members are not elected unopposed, voting will be conducted and results announced later.

The committee will also have 10 members nominated by the State government, including the chief minister, urban development minister and a representative of the Union government from the National Capital Region Planning Board. Economists and experts in town planning will be special invitees.

The BMPC will also include MLAs whose constituencies fall under the BMA, and MLCs who are voters in the BMA.

The chairperson will be chosen from among the members while the commissioner of Bangalore Development Authority (BDA) will convene the meetings. The tenure of the members of the committee will run concurrently with that of the BBMP or panchayat of which they are members.



WHAT NEXT ??

Last edited by vinay kamath : 16th September 2014 at 07:42.
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Old 16th September 2014, 09:57   #1517
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Originally Posted by vinay kamath View Post
Akshay 380, this was cut off date for the date of completion of "violations" by the property owner. this was probably later extended to 31-03-2014 by the current government. Thankfully, the High Court has not yet permitted this scheme to be implemented. But I am not sure of the legal position as on date. As soon as the next headline on this appears, I'll post again with all my facts right : )
My dilemma here is to buy or not to buy a flat in a building with one illegal floor at top. Rest all documents are in place. The floor is not for sale. People have already moved in other flats but I doubt building will get OC with that floor in place. Promotor says they will get it done in Ak-Sak. How can I safeguard myself? I thought of putting a clause in sales agreement about OC being builders responsibility but dont know how it will work. Worst thing is so few builders give OCs and even less people are aware of it!
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Old 16th September 2014, 11:15   #1518
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Originally Posted by akshay380 View Post
My dilemma here is to buy or not to buy a flat in a building with one illegal floor at top. Rest all documents are in place. The floor is not for sale. People have already moved in other flats but I doubt building will get OC with that floor in place. Promotor says they will get it done in Ak-Sak. How can I safeguard myself? I thought of putting a clause in sales agreement about OC being builders responsibility but dont know how it will work. Worst thing is so few builders give OCs and even less people are aware of it!
If you are worried about it as you clearly are - then DONT. Why this kolaveri di?

This isnt gurgaon where every builder blatantly flouts the rules, even the big ones. (e.g DLF Belaire)

Now that you know, choose a high integrity builder - the property may be costlier now but will always maintain its value.
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Old 16th September 2014, 16:02   #1519
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Do not know about the feedback, but the rate in the areas mentioned by you are around ~4500-5500 per SQFT. This, is the market value and I believe the government valuation is almost the same now.
Thank you Dass.

Thats indeed a nice upcoming area. Saying that, half of our Bangalore commuter woes could be solved by implementing a nice metro radiating inwards from the suburbs to the city centre rather than the inward-out method.
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Old 30th September 2014, 22:17   #1520
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Hello team-bhpians,
Paging for anyone who has purchased in LGCL one street Hennur.
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Old 2nd October 2014, 14:33   #1521
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Hello BHPIANS!!
I'm looking for a 4BHK flat in Borivali West - Mumbai on rental basis. I'm trying to get one without a broker as far as possible as brokerage is 1m rent which comes to almost 60-65k!! Please helpif you've aware of a property in that area! Thanks!
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Old 3rd October 2014, 06:33   #1522
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Omg ! 65k rent in Borivali !
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Old 3rd October 2014, 07:36   #1523
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Hello team-bhpians,
Paging for anyone who has purchased in LGCL one street Hennur.

Beautiful property. Wonderful concept. Lovely aesthetic design etc.
I was very keen indeed.
What made me decide otherwise are listed below;
1. There's a severe water issue there in that general neighbourhood.
2. There are many apartment blocks coming up around the immediate neighbourhood which will put a lot of pressure on the infrastructure there.
3.The location is pristine and rural right now, but I would worry once the other apartments come, because then the road, being narrow and small would become very difficult to traverse.
4. The concept is lovely, but with several levels of up and down and the living, dining and other areas being on split levels, it might become irritating to have to trudge up and down inside the house on daily basis, especially for older people/seniors/ parents/ guests. (despite the fact that the project has a private lift which stops at all levels which helps in accessing one's living area directly from the car park)
5. Despite being such a lovely high end project, they have not seen fit to build for servants quarters etc.
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Old 5th October 2014, 15:10   #1524
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Beautiful property. Wonderful concept. Lovely aesthetic design etc.
Thank you Shankar. In addition to what you mention, the location advantage is what appeals to me the most.
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Old 16th October 2014, 18:43   #1525
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Omg ! 65k rent in Borivali !
Yes mate!
Rents for 4Bhk are hovering around 40k to 60k right now in Borivali West. Depends on the area and size of the flat.
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Old 16th October 2014, 23:26   #1526
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Thank you Shankar. In addition to what you mention, the location advantage is what appeals to me the most.
I'd suggest that you take a keen look at the construction before making a decision. While exploring a couple of LGCL properties in earnest, we found that quality of construction was extremely shoddy - starting from the material used through workmanship and eventually the finish.

While buying a house, we have found that the veneer of gloss or brands (of the builder or the material used) cracks all too easily. Aspects like joints in floor tiles, quality of wood work etc. are not "sexy", but go a long way in ensuring that a house is truly a great place to live in.
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Old 17th October 2014, 06:47   #1527
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I'd suggest that you take a keen look at the construction before making a decision. While exploring a couple of LGCL properties in earnest, we found that quality of construction was extremely shoddy - starting from the material used through workmanship and eventually the finish.
, but go a long way in ensuring that a house is truly a great place to live in.

I actually saw their other property on Hennur Main Road - "Beautiful World" or something. I went in and out of the Villas and peeked around quite a bit.
Those of course are super luxury villas and way over my humble abilities at the moment. Saying that, the location is lovely because those villas overlook a small coffee estate and they are spacious and generously sized. The quality of construction did not seem untoward at all.
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Old 17th October 2014, 06:58   #1528
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I actually saw their other property on Hennur Main Road - "Beautiful World" or something. I went in and out of the Villas and peeked around quite a bit.
Those of course are super luxury villas and way over my humble abilities at the moment. Saying that, the location is lovely because those villas overlook a small coffee estate and they are spacious and generously sized. The quality of construction did not seem untoward at all.
Glad that they have seemingly upped the quality ante. We looked at their projects in Indiranagar and Sarjapur road a couple of years back, before deciding to go for a unit in 77 East near the Old Airport.
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Old 17th October 2014, 07:08   #1529
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Omg ! 65k rent in Borivali !
yessir. in chennai itself you have 43-50k rent for a 3bhk in thiruvanmiyur so in Borivali Mumbai a 4BHK costing 60-65k is actually par for the course
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Old 17th October 2014, 09:25   #1530
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Looking for a 2 BHK for investment, preferably from a decent builder.

My only criteria is that it should be in a good location, so that it is easy to rent it out.

Is anything available in Bangalore in the 45-50 lakhs range?
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