[Oxy]

Originally Posted by Soumyajit9

What ? Which article ?

I am almost in the process of putting my life's savings in buying a new apartment near Sai Baba Ashram !!

After a search of about 50 upcoming apartments and toggling with the budget and 6 months of roaming around, we have finally found our dream house.
Should I hold on for sometime ? I might then run out of my choice of flat.

Read post #1619 on the previous page.

[Dieseltuned]

A query on Mumbai properties ::

We have a small budget of approx 30L INR and would like to invest in a 1 bhk. We have shortlisted a few properties in GLobal city, Virar west. Any body here has any idea about the prospects of this place ?

Regards
Dieseltuned

[vinay kamath]

the link:-
http://www.firstpost.com/india/relie...a-2244094.html

"The order is a relief for builders else buildings would have been demolished but it is a setback for farmers who had wanted more compensation. The farmers were demanding their land back while Greater Noida authority was unwilling to give back the developed land.

"The Supreme Court dismissed all petitions land acquisition. Farmers wanted some more compensation but that has not been accepted by the Supreme Court. This verdict will impact 65 villages of Noida and Greater Noida," a lawyer told CNN IBN.(continued)"

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the link:-
http://www.thehindu.com/news/cities/...ece?ref=tpnews

"After e-Swathu is implemented, experts expect a marginal decrease in the number of property registrations as Bengaluru has the highest number of illegal and unauthorised layouts.

Incidentally, the city accounts for over 70 per cent of the revenue generated by Stamps and Registration Department across the State.

Last year alone, Bengaluru Urban district saw over 3.61 lakh registrations that yielded Rs. 5,149 crore. This year (till May 10), around 35,000 registrations have been executed that have yielded Rs. 515 crore.

Sources in the Department of Stamps and Registrations said registration will only be ‘postponed’(continued)."

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the link:-

http://www.thehindu.com/news/cities/...ece?ref=tpnews

"e-Swathu will ensure e-khatas only to genuine properties.

Trouble could be brewing for thousands of property owners in “illegal and unauthorised” layouts as they may not be able to transact on their properties.

With the BBMP setting the stage for implementation of e-Swathu (e-property) scheme through which e-khatas will be issued to genuine properties, there will be a crackdown on bogus documents and transactions based on these documents.

The scheme has already been implemented in parts of Bengaluru Urban district and in rural areas of the State.(continued)"

[wanderer4x4]

This query goes out to the friends in Bangalore or members well acquainted with the Bangalore real estate scene.

I have a plan to invest in an apartment in Bangalore for a long term. I don't plan to stay there myself and plan to rent it out. I don't want something fancy and premium as my max budget is 40 L INR.

Now, I have seen many 2-3 BHK flats being advertised in that price range in all the realty portals all over Bangalore, hence I am kind of confused now. My queries to you guys are -

1) Which location should I go for? North towards the new airport, or south towards Hosur Road, Kanakpura Road etc or towards Bellandur, Sarjapur? My current need is "rentability" and future growth over a 5-8 years period.

2) Any reliable projects that members here can suggest?

3) Any pitfalls, scams that I should keep an eye out for as this is going to be a long distance deal?

[null]

Originally Posted by wanderer4x4

This query goes out to the friends in Bangalore or members well acquainted with the Bangalore real estate scene.

I have a plan to invest in an apartment in Bangalore for a long term. I don't plan to stay there myself and plan to rent it out. I don't want something fancy and premium as my max budget is 40 L INR.

Now, I have seen many 2-3 BHK flats being advertised in that price range in all the realty portals all over Bangalore, hence I am kind of confused now. My queries to you guys are -

1) Which location should I go for? North towards the new airport, or south towards Hosur Road, Kanakpura Road etc or towards Bellandur, Sarjapur? My current need is "rentability" and future growth over a 5-8 years period.

2) Any reliable projects that members here can suggest?

3) Any pitfalls, scams that I should keep an eye out for as this is going to be a long distance deal?

One good option could be Electronic City / BLR south. If you can get two small ones instead of a big one, it will be easier to rent them out due to the working population who will come there year after year. I think you will be able to get some decent ones around there for 20-25L. Check with your other contacts for an opinion I would suggest.

[wanderer4x4]

Originally Posted by null

If you can get two small ones instead of a big one, it will be easier to rent them out due to the working population who will come there year after year. I think you will be able to get some decent ones around there for 20-25L. Check with your other contacts for an opinion I would suggest.

Small one's would be 2BHK? I've seen many on the portals to be honest, but as of now not too sure about the right locality. If I can get a decent 2/3 BHK in around my budget, then I'll probably buy one only as managing two units from a long distance could be difficult. Also, if in the future my family/ daughter needs it, then it'd be useful.

So, may be I'll focus more around the areas that you suggest. What say members?

[vinay kamath]

PRESTIGE WHITE MEADOWS, WHITEFIELD

" The Bengaluru Urban district authorities on Monday took possession of three acres and 23 guntas of land at Pattandur Agrahara village in KR Puram Hobli of Bengaluru East Taluk on which the Prestige Developers had come up with a huge residential project comprising some 100 flats in two apartments and four luxury villas."

the link:-
http://www.deccanherald.com/content/...lats-four.html


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" Continuing the anti-encroachment drive, the Bengaluru Urban district administration on Monday recovered 3.23 acres of land, the base for the multi-crore Prestige White Meadows (Joy Icecream) residential project, in Whitefield area. The recovered land is said to be worth Rs 1,000 crore."

the link:-
http://www.bangaloremirror.com/Banga...w/47422044.cms

[srishiva]

Its getting very murky regarding land in Bengaluru. The real estate company representative says the land belongs to the apartment owners and they are the owners! So people vs govt? (emotional angle?)

[nowwhat?]

Originally Posted by srishiva

Its getting very murky regarding land in Bengaluru. The real estate company representative says the land belongs to the apartment owners and they are the owners! So people vs govt? (emotional angle?)

I doubt that argument by Prestige would fly as these apartments have not yet been handed over to those who bought it.

However one thing I would say knowing recent projects by so-called "reliable" developers is that their name seems to be mud and one has to be doubly careful and engage a good lawyer to vet the land acquisition.

Recent projects I know that are held up are: 1) Raheja Vivarea, where they fudged the elevation of the land and built more than 4 floors in an airport area, 2) Mantri's construction of a mall on Sarjapur Road which has been shot down by the National Green Tribunal with a hefty penalty. Also Sobha came in the news recently because they encroached on some lake property and this project is from Prestige.

Additionally, right near my house I know of one well-known builder who built on land belonging to the Indian Army, another one who built on top of a graveyard and a third one who bought land from over 100 heirs and no one is quite sure if all were covered.

[akhil_007]

Oh. Is army silent or have they taken up any measures to vacate the encroachment? I thought army will fence their properties and is always guarded.

[Vid6639]

I had seen the Embassy villaments near the golf course. They had a model flat and site office further away at Rustom bagh.

Luckily they didn't have any of the villaments available which we preferred.

2 weeks later we read about the nala they had covered and changed the design causing the golf course to get flooded. Looked like a major cover up.

These were super high end villaments at 15-17.5K/sqft.

[srishiva]

Originally Posted by akhil_007

Oh. Is army silent or have they taken up any measures to vacate the encroachment? I thought army will fence their properties and is always guarded.

I think there is a dispute on Inner ring road between defense and prominent minister's complex.
There is a dispute between railways and Mantri mall in Malleswaram. So no one is immune.

You need someone to function beyond defined job roles to be vigilant of such things which in this country is not normal.

[akhil_007]

Originally Posted by srishiva

I think there is a dispute on Inner ring road between defense and prominent minister's complex.
There is a dispute between railways and Mantri mall in Malleswaram. So no one is immune.

You need someone to function beyond defined job roles to be vigilant of such things which in this country is not normal.

I always thought defense forces can Defend their land. After all, they defend our country. Sad to note that the state of affairs has gone to dogs.

I hope criminal cases are filed against builders and they are punished rather than harassing people who bought the flats/ houses with their savings

[Pallavi]

A query for members familiar with the Nilgiris area, preferably around Coonoor.

Our uncle is looking for a retirement home and is very much taken by the crisp air and greenery of the Nilgiris. He will be retiring in 2.5 yrs and wants to purchase a house in that area.

His initial requirements are 3 bedroom house on a 1-2 acre plot. Decent medical and other facilities in 10km radius.

What is the price range he should be prepared for?

We googled up but the prices are all over the place. Your inputs are much appreciated.

[nowwhat?]

Originally Posted by akhil_007

Oh. Is army silent or have they taken up any measures to vacate the encroachment? I thought army will fence their properties and is always guarded.

Well the fact is for the past many years, the Army has been allocated a budget only on paper. When it comes to actually handing over the money, it wasn't actually given because the CAD was high.

Fencing requires money and moreover there has been a plan on paper for a road linking Ejipura to Agara, so perhaps they thought they will fence after that.

Army (actually the ASC which may be its weakest link) does wake up every once a while just like BDA, BBMP, LDA, etc. For instance, one house owner down my road whose house partly encroaches the Army land was adding the first floor of his house and was beset by Army trucks and hordes of soldiers who put an end to the construction. The house owner was terrified, he left the floor unfinished for 3-4 years and has built it now.

The problem in India is that justice is delayed which means that by the time it is delivered, the original crooks have usually gotten away.

Originally Posted by srishiva

I think there is a dispute on Inner ring road between defense and prominent minister's complex.

If you are referring to the Shantinagar House Building Society, that is a done deal now. The person behind it is a famous minister in the current dispensation. This land was marshland and part of the feeder streams to Bellandur lake which I visited a couple of weeks ago and it was frothing with foam. It has even come up in today's Deccan Herald. Read the part where it says that adjacent residents do not park their vehicles there because the foam discolors the paint.

All we can do now is to save the traditional rainwater feeder and rajakaluve (culvert) that connected the Agara and Bellandur lakes where Mantri was building a mall which has been recently stopped by the National Green Tribunal.