Tag Archives: Investment in Bangalore

Sea facing vacation Homes at Gokarna Main Beach

Sea facing vacation Homes at Gokarna Main Beach

Millions search every day on internet and through different mediums for Beach properties, Sea view Home, Sea facing Land, Vacation Homes, Farm House, Farm land, etc. Thousands  find what they are looking for. Hundreds buy Beach properties in India in a year. If you are one among them don’t you think you have made million dollar deal for INR 5.5 lakhs?

Do not wait before we close our bookings soon. Only 16 units available.

Project Name: Local Space View

Project  Location: Main Beach Gokarna, Karnataka

Google Co-ordinates: 14°33’05.0″N 74°18’38.3″E

Total Land area: 8000 square feet.

Number of Blocks: 4

Each Block Land Area: 2000 square feet

No of Units in Each Block: 4

No of Floors in each Block: 2 ( Ground + First)

No of units in each Floor: 2

Super Built up area of Each Unit: 360 square feet

Each Unit consists of

Living cum Bed Room: 16*12=192 square feet

Kitchen: 8*8=64 square feet

Attached Bathroom and Toilet: 8*5= 40 Square feet

Open Balcony: 8*8= 64 Square feet.

Area/unit:360 square feet.

Ground floor cost INR11.5 lakhs/unit

You pay INR 6.5  lakhs

Booking amount: 2lakhs

Balance amount would be adjusted towards rental income over a period of 5 years.

First floor cost INR12.5 lakhs/unit

You pay INR 7.5  lakhs

Booking amount: 3.5 lakhs.

Balance amount would be adjusted towards rental income over a period of 5 years.

Project completion: March 2016.

Call now: 09035611299

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Income limit to buy Farm land in Karnataka

FARM LAND IN KARNATAKA

Bill on the table to increase the income limit to buy farm land in Karnataka.

The State government on Monday March 2015 introduced an amendment bill in the Legislative Assembly, seeking to increase the income limit for purchasing farm land to Rs 25 lakhs from Rs 2 lakhs.

The State government on Monday March 2015 introduced an amendment bill in the Legislative Assembly, seeking to increase the income limit for purchasing farm land to Rs 25 lakhs from Rs 2 lakhs.

On amendments to the Karnataka Land Reforms Act, 1961, the Minister said the government was contemplating amendments to Section 79-A that bars persons having an annual non-agricultural income of above Rs. 2 lakh from buying agricultural land.

The Karnataka Land Reforms (Amendment) Bill, 2015, also proposes to empower Deputy Commissioners of districts to grant permission for purchasing a certain extent of land for educational, industrial, religious and housing projects. The Bill was piloted by Revenue Minister V Sreenivas Prasad.

Merits of Amendement
Enhancement in the limit should help both farmers and Government of Karnataka. Transactions  with false income and under value of land can be avoided.

It is a good move as Government can expect some revenue from this amendment.

By Vidyadhar Naik– LOCAL SPACE    M:09035611299

Also see

 http://bangalorerealestates.in/farm-house-and-farm-land-in-bangalore/

Co-opertaive Housing Societies in Bangalore

Good News expected for Co-operative Housing Societies in Bangalore

Recent statement from state co-operation minister H S Mahadeva Prasad

“Government is working out on a solution for execution and delivery of sites to housing society members.”

Government should consider following factors while doing any amendments in the existing co operative housing society act.
1 Change of usage of land should be done on a single window scheme by appointing a separate agency. This would cut down time spent in processing all documents among various departments.
2 Large parcel of land should be permitted for change of   usage of land
3 Percentage of Associate membership should be increased in order to facilitate outsiders with state domicile to buy plots from these housing societies.
4 Plot should be allotted and registered within one year from the date of payment of all installments. Otherwise interest should be paid on the total amount for delayed
period.
5 Developer should register all plots in the name of society. Last minute tussle between Developer and Society should be avoided.
6 Society should not charge additional amount on the basic land cost as mentioned to its members.
7 Society should publish its progress report on acquisition of land and development activities on periodic basis to its members.
8 Members Investment should be safeguarded in proportion of land acquired by the society.
9 There should be transparency on the percentage of money spent from the members installments made to society.Money collected should not be diverted to other projects of
the society.

State Government should mitigate on these problems, site seekers should get sites on time. Co-operative Housing Societies in Bangalore can be a model to other housing societies in the country?.

By Vidyadhar Naik- Local Space. M: 09035611299

 

Farm House and Farm Land in Bangalore Call: 09035611299

Farm land and Resorts in Bangalore
Vinayaka Green Valley View and Resorts

 Farm House and Farm Land in Bangalore

INR 650/Sqft.

Plot size:2178 sqft

Plot size: 5445 sqft

Booking amount 30% Total cost.

Bank loans from HDFC and ICICI

Local Space brings you finest and best Farm House and Farm Land in Bangalore  with club membership under the foothills of Shivaganga and Kengal Hills. Located 55 kms from Yeshwantpur Bangalore and 3kms from Dabaspet on Bangalore-Tumkur Highway road. Unique opportunity to own Farm Land and Resorts membership in Bangalore. Resorts in Bangalore are common. But owning a farm land in Resort is specially made for you.

Under the foot hills of natural and holy serenity Shivaganga and Rocking Kengal. The sparkling background of nature’s beauty and privately held gated community farm land plots with built to suit cottage option.

Book now and own your Farm House and Farm Land in Bangalore

Bookings open now.

For Details call :  09035611299.

The Mumbai-Bangalore Corridor is likely to have exponential growth in residential, commercial and industrial segments along Bangalore-Tumkur National Highway NH4.

Why one should invest in the Bangalore-Tumkur Corridor.

1   Elevated Express and Flyover connectivity from Bangalore to Tumkur.
2  Bangalore Mysore Infrastructure Corridor (BMIC)
3  Metro Rail Phase I and II
4  Proposed Peripheral Ring Road
5  Presence of Global corporations like such as ABB. Kennametal, Widia,     ITC,Volvo, BOC, Reliance Packing Industries,etc. apart from                   small scale industries manufacturing ancillary parts for PSUs, automobile industries, garment industries, etc
6  The 14,000-acre zone around Vasantanarasapura village, will incorporate the Smart City and a Japanese village under National Investment and Manufacturing Zone (NIMZ
  A tech hub nearly 42 times the size of Electronics City is coming up in Bangalore’s backyard, complete  with a Japanese village and road, rail, and port connectivity). About 35 per cent of the land is to be dedicated to the manufacturing sector only. A food park will come up over 100 acres, while a machine tools park will get 500 acres
7 The likely investment into the zone is Rs 50,000 crore under NIMZ.
8  Estimated 2.5 lakh jobs, direct and indirect once MIMZ project completed.
9  The shifting of the Peenya industrial belt to Dobbaspet is also going to help Dobbaspet and surrounding area picking up its industrial activity.

Also see

http://www.business-standard.com/article/economy-policy/mumbai-bangalore-corridor-metro-to-transform-tumkur-road-113061301105_1.html

http://www.bangaloremirror.com/bangalore/cover-story/Bigger-by-42-fold-Tumkurs-NIMZ-will-give-eCity-a-complex/articleshow/38333013.cms

 

By  Vidyadhar Naik  M:9035611299

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Flats below 30 lakhs in Bangalore

Flats below 30 lakhs in Bangalore

Flats below 30 lakhs in Bangalore expected to be in more demand in the coming months in Bangalore. Bangalore is all set to see  increased  sale in housing from mid income group buyers in 2014. I list following factors for this expected good growth.

1Economic Environment:

CPI and Core Inflation value predicted to be under control. GDP likely to touch above 6 at the end of fourth quarter 2014-15 as per world Bank prediction. Over all it is going to be blend of transition and error correction year 2014-15 for India.

2 Housing Loan:

Housing Financial Institutions are getting equipped themselves with funds to support mid income group home buyers for housing loan. Recent arrangement of LIC HFL from overseas markets through external commercial borrowings (ECB) for $ 300  M  got approval from RBI is clear indication for this housing segment. Housing Financial Institutions are likely to target on flats below 30 lakhs in Bangalore

3 Infrastructure-Bangalore:

20-minute ride between the Kempegowda International Airport and the Hebbal flyover is on the verge of becoming a reality. First section of the six-lane measuring 3.7 kms elevated expressway along the Bellary Road and leading to the airport from Hebbal flyover to Kogilu Cross, after Yelahanka was made available to public on January 1st 2014. The two other sections of the expressway will be ready and thrown open to the public in 30 days. There are at least 20 major roads which are to be completed by April- May 2014. This will help buyers to look for houses in around theses area which are connected to major real estate corridors of the city. Road infrastructure development on the peripheral of NICE road has opened up new Real Estate corridor.

Metro Phase I to be fully ready by March 2015. Commercial operations between Peenya and Malleswaram would start at any day from now. Phase I span a length of 42.3 km and consist of 2 lines. M. G. Road to Byapanahalli in operation. Peenya to Nagasandra, Sampige Road to National College, National College to RV Road expected to be completed by DEC 2014.

The State government has decided to go ahead with the construction of a state-of-the-art peripheral ring road around Bangalore at a cost of Rs. 5,800 crore It would be a six-lane or an eight-lane road and the total length would be about 65 km.

State government trying its best and serious efforts to make infrastructure development of the city to fulfill its promises to Bangalore citizens and as well as keeping in mind coming MP Elections. These rapid developments would certainly reduce commuting time for Bangaloreans by 40% by the end of this year. Travelling time from dwelling places to work place or business place which is a major headache for Bangaloreans, likely to be solved in the next 12 months.

4 Civic agencies

BDA/BMRDA/BIAAPA/BMICAPA have put their norms and regulations in place. These agencies appear to be clearer about their responsibilities and their governing laws. This would create more confidence in buyers especially in mid income group who are looking for transparent buying process systems.CDP Plan of 2014 give clear picture about zoning areas and regulations. Metro Politian Committee expected to solve problems of Real estate community by making technical process and implementation corrections to obey  and implement High Court order in 3-4 months.

5  Real Estate Community:

Above and all entire Real estate community which includes Government Policy makers, Different Associations, Builders. Developers, Corporate real Estate houses, Property advisors and Consultants are evolving towards organized Real Estate sector.

I would like to conclude saying that Governments, Local Civic agencies, Housing financial institutions and organized real estate sector will provide a platform of fair and transparent deal for all buyers especially mid income group buyers in 2014. Let us also keep watch on inventory of unsold properties of the  year 2013-2014. Whether the sale comes from Information Technology professionals or investors for gain, but 2014 will be better one for  for flats below 30 lakhs in Bangalore

 

Following article may be useful to you:

http://bangalore-realestates.blogspot.in/2014/01/capital-gain-in-property-sale_11.html

 

LOCAL SPACE

Vidyadhar Naik-Property Consultant