Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 21st November 2011, 22:12   #886
BHPian
 
sam_boy's Avatar
 
Join Date: Jan 2009
Location: OD10 -> KA-01
Posts: 219
Thanked: 142 Times
Default Re: The Property / Real Estate Thread

Urgently need a 2Bhk for rent in Whitefield area in Bangalore for rent for a friend who is relocating from Kolkata.

Any leads would be of great help !!!
sam_boy is offline   Reply With Quote
Old 21st November 2011, 22:20   #887
BHPian
 
Wheeliej's Avatar
 
Join Date: Mar 2006
Location: Bangalore
Posts: 278
Thanked: 42 Times
Default

For rentals check the websites like sulekha magicbricks and commonfloor. Giving any suggestions on available apartments gets classified as doing commercial activity on team bhp even when one is not making any money but just helping out a friend
Wheeliej is offline   Reply With Quote
Old 22nd November 2011, 17:12   #888
Senior - BHPian
 
Join Date: Jul 2008
Location: Bangalore
Posts: 2,026
Thanked: 373 Times
Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by penpavan View Post
On reading it means that you cannot sell a property unless you have registered it!
Very major decision! So if this is true then you may expect that number of people doing flat/apartment/site squatting on the basis of only sale agreement (with the intention of selling the flat at higher price later) will decrease.
It categorically states that from now on, SALE AGREEMENT is no more a legal document and only SALE DEED is.
Well the news paper report has mixed up two things leasehold and irreversible GPA. And some responses are confusing on agreement to sale etc. So let me chip in my understanding probably some lawyer friend can correct me If I am wrong.

1. Absolute sale deed was always the only 100% reliable document to prove the ownership and such properties which owners are free to sell were known as "free hold" properties.

2. Some individuals and companies were taking long terms lease ( example 99 years ) and then this lease was transferred to 3ed party.
Example Company A owns a shed and use for 10 years and then lease is transferred to Company B ( for rest 89 years) these kind of properties were known as "leasehold ". In this case The original lease document should state that the lease is transferable.
The court order does not say anything about "leasehold" so no change in status as against some portion of TOI report.

3. Irreversible General Power of Attorney : In some cases in order to avoid registration charges people were making an irreversible GPA in name of another person , A GPA can be made on 200Rs stamp paper and usually authorities another person to do property transaction on your behalf / collect money. GPA is usually reversible but in some special cases a person can give irreversible GPA forgoing his own rights on property. This is similar to handing over property to another person ( Watch movie Bazigar for details on how an irreversible POA can cause damages ).
Till now transactions with irreversible GPA were not resulting in registration charges payment and the intermediary was able to do a sale ( 1 transaction instead of 2).

This is made illegal and now the property should be necessarily registered in name of the person who is selling it.

However I think this brings no change to the GPA holder executing the sale on behalf of actual seller for example if you purchase a flat from some big group the person who executes the sale is an employee holding GPA to execute sale on behalf of company. Or a relative executing the sale as property holder is out of station etc.
Maybe some legal eagle can throw light on this.


4. Agreement to sale : This is an agreement between developer/seller and a buyer , This agreement does not confirm a sale/ownership but just lays down the specifications of development and schedule and price at which sale will happen. This agreement is basically a contract
The court ruling does not say anything to make it illegal.
Usually HFC /Banks loans to first buyer against the property itself and their representatives collect the sale deed at the time of registration but sale agreement was never a collateral in itself though HFC collect them for preventing buyers to transfer property.

If there is any breach in contract from either side they can still move to court IMHO
So no change in status for first purchaser

4. Unregistered sale agreements even after development is over and property is handed over.

In case the sale deed is not registered it is clearly the fault of purchaser + seller of not registering and paying the stamp duty so now court is forcing them to register mandatory
So you can not sell if you do not have registered sale deed with you

Last edited by amitk26 : 22nd November 2011 at 17:14.
amitk26 is offline   Reply With Quote
Old 22nd November 2011, 18:23   #889
BHPian
 
menonrajesh's Avatar
 
Join Date: Mar 2006
Location: Bangalore
Posts: 210
Thanked: Once
Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by Steve_Austin View Post
Anybody in Bangalore willing to share their firsthand experience with Salarpuria projects/apts ?
Hey Steve, did you decide with Greenage? Thought of checking to see if there are going to be any TBHP friends in my neighbourhood

Sorry that I saw your post so late and couldnt help when you wanted info on the project.
menonrajesh is offline   Reply With Quote
Old 22nd November 2011, 18:29   #890
BHPian
 
Steve_Austin's Avatar
 
Join Date: Nov 2010
Location: Bangalore
Posts: 74
Thanked: Once
Default Re: The Property / Real Estate Thread

Yeah Rajesh,

Done.. Paid booking advance for a 2 BHK in Oak Block and getting the loan thing sorted out.

I'll be happy if they handover as per the expectation set i.e., June 2012 (Fingers Crossed).

What about yourself...
Steve_Austin is offline   Reply With Quote
Old 22nd November 2011, 18:34   #891
BHPian
 
menonrajesh's Avatar
 
Join Date: Mar 2006
Location: Bangalore
Posts: 210
Thanked: Once
Default Re: The Property / Real Estate Thread

Thats a great news. And Congrats!

I am in Juniper.

Sending a PM now.
menonrajesh is offline   Reply With Quote
Old 22nd November 2011, 18:51   #892
Senior - BHPian
 
coolclouds's Avatar
 
Join Date: Jul 2009
Location: Garden City
Posts: 1,790
Thanked: 513 Times
Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by ukderebail View Post
I have worked for a construction products and services for some time and have built a house in Bangalore, with my experience i would like to give some basic or rudimentary advice to prospective house owners :
Thanks for the info.
By any chance, you know someone who can draw good 30X40 plans and give estimate, preferably freelancers?
coolclouds is offline   Reply With Quote
Old 22nd November 2011, 19:01   #893
BHPian
 
ukderebail's Avatar
 
Join Date: May 2011
Location: Bangalore
Posts: 153
Thanked: 39 Times
Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by coolclouds View Post
Thanks for the info.
By any chance, you know someone who can draw good 30X40 plans and give estimate, preferably freelancers?

I was lucky to get the drawing done by my uncle who is a PWD engineer. I suggest you try to get some engineering college students who are passing out of civil or architecture. It is ideal to have someone who is staying close by to the construction site, so that frequent site visits can be possible.
ukderebail is offline   Reply With Quote
Old 22nd November 2011, 22:11   #894
Senior - BHPian
 
Join Date: Dec 2006
Location: NH209
Posts: 1,607
Thanked: 700 Times
Default Bangalored: some help needed

Am an UPSC aspirant. That makes me theoretically neither a student nor unemployed. Written my exams and awaiting results, at the same time preparing for the next attempt too.

Sometimes in life, things go according to the plan and sometimes otherwise, and so it happened that i am getting married in a fortnight. But it is the rule, neither happiness nor disaster comes pre-announced.

She is working in an IT firm in Electronics city(phase 1). So i am shifting there, and since i am supposed to be studying most of the time, i am looking for accomodation suggestions from bhpians.

PS: I planned to restrict the flat/house rent to around 6-7k per month, and since it is a couple with no guests visiting, i guess a 1 BHK is more than enough. I am used to simple living(IT wife permitting, lol)

Last edited by ramzsys : 22nd November 2011 at 22:13.
ramzsys is offline   Reply With Quote
Old 23rd November 2011, 10:33   #895
BHPian
 
rohan_iitr's Avatar
 
Join Date: Feb 2009
Location: Bangalore
Posts: 992
Thanked: 401 Times
Default Re: Bangalored: some help needed

First of all, wrong usage of the word Bangalored.

Electronics City is an SEZ, almost 10 kms away from the edge of the city. If your wife is working in Electronics City, the logical thing would be to stay near Electronics City. But this would mean that you are at least 10 kms away from civilisation.

Other approach would be to live in areas like Koramangala, HSR layout, BTM layout or JP nagar. In this approach, your wife would have to commute 15 kms one way. Not a problem if company bus is available.

Best approach would be to discuss with your wife which area she would prefer to stay in.

Real estate agents would assist you in house hunting, they charge one month rent as their service charge. The landlord will take 10 months rent as a security depost. Be prepared to cough up the amount upfront.

Rohan
rohan_iitr is offline   Reply With Quote
Old 23rd November 2011, 10:50   #896
Senior - BHPian
 
mayankjha1806's Avatar
 
Join Date: Jan 2011
Location: BLR/Gurgaon
Posts: 2,132
Thanked: 820 Times
Default Re: Bangalored: some help needed

Alternatively you could live in Electronic City, living there will be much cheaper (as far as rent is concerned) but for buying anything you might have to commute quiet a distance.

If you guys go out rarely to shop then that would be the right place for you (Saying this as i am assuming you would be with books most of the time, and the only shopping you might do is basic home groceries). If not then this would be a bad choice. Also i am not sure how safe that area is others can comment. HSR and Kormangala would be expensive then the stated rent.
mayankjha1806 is offline   Reply With Quote
Old 23rd November 2011, 17:27   #897
BHPian
 
deep_bang's Avatar
 
Join Date: Mar 2007
Location: Bangalore / Boise
Posts: 579
Thanked: 278 Times
Default Re: Bangalored: some help needed

As Rohan and Mayank suggested, staying in EC is a good bet if you are fine to be away from the city. There are no shopping malls or theaters or such at present in EC. The nearest hub is koramangala, which will be about 10 to 13kms from EC.

The other option is to live in HSR or Koramangala as others suggested.

The 3rd option is to live on new layouts developed around Haralur road and Hosa road. Remember that these are new localities, so you might not have all the amenities, but these will be about 6 to 8 km to EC, and about 3 to 5 kms to HSR, about 5 to 7 km to Koramangala. They will also be cheaper than HSR.
deep_bang is offline   Reply With Quote
Old 23rd November 2011, 19:17   #898
BHPian
 
Join Date: Mar 2011
Location: Goa
Posts: 267
Thanked: 88 Times
Default Re: Bangalored: some help needed

Hi, here is what I consider is the best option for you.

Stay at Gotigere/Kalena Agrahara in Bannerghatta road. There are numerous apartment projects of various sizes here and the rent will be much lesser than HSR/Koramangala. EC will be just 15 mins drive and most companies have pickup/drop to this place.

You have Meenakshi mall just 5 mins away and Jayanagar/JP nagar is also nearby.

The best part being a teambhpian would be that you can go for drives to various locations like Coorg, Chickmaglur, Ooty, Mysore, Wayanad etc without fighting the city traffic.

And with regards to your exam preparations I would also suggest you get a Library membership at IIM-B (should cost around 1200-2000 for a year) which would be 15 mins drive. I see many folks there in the library preparing for UPSC exams. I go there to prepare for CFA exams. I guess the green campus and the huge library offers great ambience for studying, plus you can join "brains" with other candidates.

For your apartment search do use "commonfloor.com".

Congrats for getting engaged and all the best!

Rgds

VW

Last edited by VindyWheels : 23rd November 2011 at 19:18.
VindyWheels is offline   Reply With Quote
Old 23rd November 2011, 19:26   #899
Senior - BHPian
 
scopriobharath's Avatar
 
Join Date: Nov 2007
Location: Chennai
Posts: 3,563
Thanked: 1,174 Times
Default Re: Bangalored: some help needed

Quote:
Originally Posted by ramzsys View Post
Am an UPSC aspirant. That makes me theoretically neither a student nor unemployed. Written my exams and awaiting results, at the same time preparing for the next attempt too.

Sometimes in life, things go according to the plan and sometimes otherwise, and so it happened that i am getting married in a fortnight. But it is the rule, neither happiness nor disaster comes pre-announced.

She is working in an IT firm in Electronics city(phase 1). So i am shifting there, and since i am supposed to be studying most of the time, i am looking for accomodation suggestions from bhpians.

PS: I planned to restrict the flat/house rent to around 6-7k per month, and since it is a couple with no guests visiting, i guess a 1 BHK is more than enough. I am used to simple living(IT wife permitting, lol)
Electronic City is little far from the "happening" place, but note that It is connected to Koramangala, MG Road, Majestic, KR Market with frequency of a bus every 5 mins. You have both private and govt buses on this route. you will NOT get a house in Koramangala side for 6/7k. I was paying 3000/- for a PG in Dairy Circle in 2006. Rents are skyrocketting here. Even in electronic city there is only a remote chance for a house in this budget.

Personal suggestion is to stay as close to the workplace as possbile. Your spouse's daily commute will be to office only. When you want to socialize (movies / hotels etc) you can take an auto rickshaw / bus to koramangala. I think this will be once a week at the max.
scopriobharath is offline   Reply With Quote
Old 24th November 2011, 12:20   #900
Distinguished - BHPian
 
Nikhilb2008's Avatar
 
Join Date: Jul 2006
Location: Bangalore
Posts: 4,770
Thanked: 4,224 Times
Default Re: Bangalored: some help needed

I am doing my MBA in a college in Electronic City. I would like to dispel some myths associated with it!

1). Yes, it's far from civilisation. Most networks dont give consistent 3G coverage in E city. In some places (near Neotown, for example), you get BLAZING speeds. In 99% of my college campus, it's just 2G speeds.

2). A nilgiris has opened in E-City now. It's quite a big one. They stock most of the basics. Fruits, veggies are quite decent. Good selection of snacks. They also have a counter serving fresh bakery products. Grocery shopping will be quite easy on a day to day basis.

3). Lots of eateries in varying budgets. You have Cafe Fresh where you can fill your stomach for 150/-. You have Dominos, Pizza hut and TWO outlets of Mast Kalandars. You have dozens of small places where you can eat everything from South Indian to North Indian. There is a small Punjabi Dhaba where you get some really nice North Indian food. Whenever I go with friends, we eat to our heart's content and the bill rarely cross 120/- per head. You have expensive places like Crowne Plaza. You have Radha Regent, Lemontree and Lords Plaza as well. They are expensive but not in the league of Crowne Plaza. Crowne Plaza buffet is close to 900/-. Lord's, RR and Lemontree are close to 350/- per head. For desserts, you have Baskin Robbins near Infosys Gate 6. Yoiu also have the cake shops of various hotels in the area. There is also a Just Bake near Velankanni Tech Park (Patni Computers office).

4). Regular Volvo service from Infosys bus stand to Madiwala. From Madiwala, Koramangala is very near. At non-peak times, it will take you about 30-40 mins to reach Forum from E city by bus. If you have a car/bike and take the expressway, it will be closer to 15-20 mins.

5). The BETL expressway shrinks the distance. Everyone says 10 kms from Koramagala but on the expressway, 10 kms is covered in about 6-7 stress-free minutes. 55/- for a daily pass. Or better still, get an OBU. You can either get a monthyl pass or get a balance-based pass. I have a balance based pass and for the first trip in the morning, 35/- gets deducted. When I return, another 20/- gets deducted. 3rd trip onwards, nothing gets deducted. When you pay Rs. 55/-, you can travel unlimited no. of times on the Expressway.

For a bike, it is much cheaper. If you need to travel out of E-City every single day, then it makes sense to get a monthly pass which costs around 1000/-. Otherwise, get a balance-based pass.

Warnings: Some areas of E city are quite deserted after 9:00 pm and feel unsafe. Please note, I say "FEEL" unsafe. There are not many crimes reported in E city and it is reasonably safe. Travel within E-City is a problem unless you have a vehicle of your own. Getting autos is always tricky. No one will agree to charge you by the meter. Everyone will rip you off. Even to get from your apartment to the Infosys Bus Stand, autos will rip you off. The best thing is to get the phone numbers of some auto services. That's what we have in our college. Some phone nos. are listed and the people at the other end of the line will arrange for autos at a given time.

During peak hours, lots of rashly driven taxis are flying around E city. Be careful. It's a wonder that not many accidents occur inspite of these morons.
Nikhilb2008 is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
A trip out of Real estate to TEA ESTATE - Our Valparai vacation ch.nathan Travelogues 47 4th May 2012 16:00
Interesting website for availing discounts on bulk buying for cars, real estate etc. DCEite Shifting gears 0 6th September 2010 16:15


All times are GMT +5.5. The time now is 00:40.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks