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Old 25th August 2013, 22:55   #1306
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Default Re: The Property / Real Estate Thread

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Originally Posted by rjstyles69 View Post
Folks, need help with the law when it comes to apartments. I quite recently picked up a 3bhk duplex apartment and had a few queries regarding modifications and changes that can be made. My apartment association is driven purely by red tape bureaucracy and the office bearers(a few of them) behave as though they own the whole building. Questions1 - I have two balconies(apart from the terrace) and I want to put up sliding glass shutters. Now this has been strongly opposed by a few nincompoops in the association stating that this is against the norms laid out by the govt. Does something like this exist at all ? 2 - Also the passage that leads to the balconies in question has a door and an adjacent window. My idea was to remove the existing door/window combination and put up a French sliding door like the one in the pic below. Once again the blokes are at it again saying that its illegal. No pillars are being touched or no wall on the outside is being altered, I am planning to fix these sliding doors exactly in the dimensions as the added width and height of the existing door and window. I am new to this and wanted to know if such rules exist at all ? From what I saw there are a few other apartments in our building which have the same kinda work done.
Apologies for back to back posts (rather replies). First item would be possible and it can be seen from safety/security angle. I had done it inspite of resistance from builder as my son had just walking and we were staying on 10th floor in one of puravankara apartments adjacent to Marathahalli bridge. This can also be classified as temporary change as it can undone without much effort. Second one would be a bit audacious and not advisable as it falls in category of permanent changes.

Last edited by deepaktpatil : 25th August 2013 at 23:11.
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Old 26th August 2013, 14:12   #1307
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Default Re: The Property / Real Estate Thread

Thanks for the reply Deepak! After clarification, the lawyer said that the stamp duty DD of private bank is OK but the registration DD needs to be of a nationalized bank. Also, he mentioned to give the DDs few days in advance of the actual agreement signing.
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Old 4th September 2013, 18:28   #1308
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Default Re: The Property / Real Estate Thread

The Real Estate market is already going through worst scenario. Plenty of Commercial Spaces unsold in Mumbai Market.

The only ray of hope for developers was residential projects generating some cash-flows.

With RBI tightening home loans norm it was final nail in the coffin for the developers lobby which is already facing liquidity crunch.

RBI has debarred upfront 80:20 loans for residential flats
80:20
or 75:25 schemes refer to offers where a builder sells flats soon after the launch of a project. The incentive for the buyer is with just 20 - 25% upfront payment, he / she is ensured of getting flat upon completion for the rate it is booked. Such schemes are made possible by a tripartite agreement between the buyer, the builder and the lender whereby the builder agrees pay upon the loan installment until the delivery / possession of the flat purchased by the buyer.

http://timesofindia.indiatimes.com/b...edium=referral
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Old 11th September 2013, 12:42   #1309
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Default Re: The Property / Real Estate Thread

Now you can claim your refund from the builder for car parking charges :

ĎCanít charge flat buyer extra for parking slotí

Emphasising that a flat buyer cannot be charged extra for a car parking space, a consumer forum has fined a developer that committed this "unfair trade practice".

"Car parking area is the common area of the society. Therefore, the opponent (the developer) had no right to charge any amount for the sale or use of the parking space," observed the forum. It took into consideration a Supreme Court judgment which held that a developer can only sell a flat and has no right to sell a parking space.

http://timesofindia.indiatimes.com/c...edium=referral
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Old 11th September 2013, 13:30   #1310
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Originally Posted by mannubhai View Post
Now you can claim your refund from the builder for car parking charges :

ĎCanít charge flat buyer extra for parking slotí

Emphasising that a flat buyer cannot be charged extra for a car parking space, a consumer forum has fined a developer that committed this "unfair trade practice".

"Car parking area is the common area of the society. Therefore, the opponent (the developer) had no right to charge any amount for the sale or use of the parking space," observed the forum. It took into consideration a Supreme Court judgment which held that a developer can only sell a flat and has no right to sell a parking space.

http://timesofindia.indiatimes.com/c...edium=referral
To add some clarity:
A builder cannot sell anything which he has not constructed (i.e. : open car parks).
All open area (along with the land ) eventually belongs to the society upon handover.
But if its a stilt or covered area, then it can be sold.
Basically you can't sell something that wasn't built
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Old 11th September 2013, 16:48   #1311
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Default Re: The Property / Real Estate Thread

Mods : Please delete this if it is against rules

Friends,

I am looking to buy a resale property or a ready to move in property in East Bangalore, 560066.

Open for options for 2 BHK, 3BHK

If anyone in the know is planning to sell the flat, please PM me.

Highly appreciated.
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Old 11th September 2013, 17:40   #1312
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Default Re: The Property / Real Estate Thread

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Now you can claim your refund from the builder for car parking charges
The agreement has to mention the amount charged for the parking slot for the buyer to claim refund. In most cases, the agreement's just say that the price for the flat is x.xx Cr which includes parking. Legally, there is no way you can catch them. What the court should do is make it mandatory to include the complete break up of the amount mentioned in the agreement. That way builder's will be cornered and have no means to do any jugaad. At least, the agreement for my flat does not mention any amount for parking. It just says 2 parking spaces are to be allotted. Smart guys these builders!

I also have a question:

I am buying a property in Navi Mumbai. My lawyer says CRZ , civil aviation & IMD approvals either should be with the buiilder or if the same is not applicalbe to the project, then the builder's artithect should issue a letter to that effect. Builder says CC is enough and since these rules don't apply to the project in question so it is very difficult for any person to issue a letter to that effect. I am saying that the letter will obviously be based on the rules in force today. The letter is not a guarantee that the government will never impose such rules in the future but just a protection to me that based on rules in force today, I am safe with this purchase.

What do the experts feel?
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Old 11th September 2013, 18:06   #1313
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Originally Posted by amit View Post
The agreement has to mention the amount charged for the parking slot for the buyer to claim refund. In most cases, the agreement's just say that the price for the flat is x.xx Cr which includes parking. Legally, there is no way you can catch them. What the court should do is make it mandatory to include the complete break up of the amount mentioned in the agreement. That way builder's will be cornered and have no means to do any jugaad. At least, the agreement for my flat does not mention any amount for parking. It just says 2 parking spaces are to be allotted. Smart guys these builders!

I also have a question:

I am buying a property in Navi Mumbai. My lawyer says CRZ , civil aviation & IMD approvals either should be with the buiilder or if the same is not applicalbe to the project, then the builder's artithect should issue a letter to that effect. Builder says CC is enough and since these rules don't apply to the project in question so it is very difficult for any person to issue a letter to that effect. I am saying that the letter will obviously be based on the rules in force today. The letter is not a guarantee that the government will never impose such rules in the future but just a protection to me that based on rules in force today, I am safe with this purchase.

What do the experts feel?
CC is commencement of construction. So if you have cc to a certain floor, you are allowed to build till that. That is it, nothing else.

CRZ, EC, IMD, MCZMA,NCZMA,CFO NOC and many others are needed in various parts of Mumbai. Many rules have got changed in past few years and applies to building under construction as well. That explains the large number of projects stuck in the past 2-3 years.

If you are buying an under construction property, then you should understand the risk involved as delays are a major concern in Mumbai today.

If you are planning to stay in the house and not merely invest, i would STRONGLY recommend a ready to move-in flat( not even possession in 3 months promise types) preferably having full OC. Its worth the extra money.

PM if it is a specific project, I'll try and find out details about it.

my opinion: hold on to your money; at least in Mumbai, prices are surely crashing ( its already crashed quite a bit) within 1 - 1.5 years
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Old 4th October 2013, 12:26   #1314
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Default Do you know anything about the IVC road??

Hello Everyone, I am looking for some investment options near Dodaballapur and have been hearing a lot about the proposed IVC (inter village connectivity road).

From what I have heard, IVC is a 300 feet wide road connecting Dodaballapur and Bengaluru International Airport and there are multiple big projects coming up on this stretch.

However, I have always heard that this project (IVC) is dropped and all the development talks are just rumors.

Does anyone from Bangalore please comment on what is true?? is the IVC a reality in making??
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Old 4th October 2013, 12:28   #1315
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Default Re: Do you know anything about the IVC road??

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Originally Posted by vinair View Post
Hello Everyone, I am looking for some investment options near Dodaballapur and have been hearing a lot about the proposed IVC (inter village connectivity road).

From what I have heard, IVC is a 300 feet wide road connecting Dodaballapur and Bengaluru International Airport and there are multiple big projects coming up on this stretch.

However, I have always heard that this project (IVC) is dropped and all the development talks are just rumors.

Does anyone from Bangalore please comment on what is true?? is the IVC a reality in making??
There's already development on that stretch. It's got villas and apartments coming up.

Road is currently single lane and good drive. 25 mins to airport from Dodaballapur.
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Old 4th October 2013, 12:35   #1316
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Default Re: Do you know anything about the IVC road??

Hey thanks Vid! yups, I too saw some good projects on either side of this stretch. But when looking up for info on the net (for IVC), there seems to be very little info.

I could not find anything mentioned in the BIAPPA website as well.

I heard about IVC and also about a IRR on the same stretch! I am now even more confused as to which would be what in future!
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Old 7th October 2013, 18:40   #1317
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Default Re: The Property / Real Estate Thread

NOIDA query

Hi,

Any feedback on Jewel of Noida?
http://www.thejewelofnoida.org/

TIA
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Old 15th October 2013, 22:11   #1318
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Default Re: The Property / Real Estate Thread

Akrama - Sakrama is back in news in Bangalore. Looks like with the congress govt and the congress appointed governor at the helm, this long delayed money spinning activity will finally see the light of the day.
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Old 30th October 2013, 11:57   #1319
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Default Re: The Property / Real Estate Thread

Any advise on Aditya Grand please? This layout is right on the old madras road, 10 km away from the Tin Factory flyover in Bangalore. The quoted rate is about 2300 per sqft.

Looks great in terms of location, however, Bangalore is too risky a location in terms of land litigations and developers vanishing before a layout is ready and handed over.
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Old 30th October 2013, 15:28   #1320
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Default Re: The Property / Real Estate Thread

Any ideas about: http://giftgujarat.in/?

How is the progress?

Current rate for residential property is 2000 Rs./ sq. ft. (just hearsay).
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