Bangalore Realty: April 2007

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Bangalore Realty

Blog Archive 2007 (8) July (1) June (1) May (1) Monday, April 9, 2007 April (3)

Tips for the people who wanna buy land near International Airport
In mid of 2005, I started thinking of making my first real estate investment. I was an amateur, didnt have an idea of what one should look for while buying a land. My Dad helped a bit in know hows of real estate business, but that was not enough. After investing considerably in real estate over the years, I gained some knowledge & would recommend these things for any buyers who want to buy land near New International Airport area. 1. 2. 3. 4. Make sure to visit the site before making down payment Make sure to drop into Vendors office/Home Do thorough research on the Vendors authenticity Make payments in the form of Cheque/DD & never forget to collect the acknowledgement slip 5. Verify these documents without fail Absolute sale deed Khata Latest Tax paid Receipts Encumbrance Certificate BIAPPA approval document NOC from pollution control board Survey Map Zonal Regulation Map Mutation register extracts Validity of Power of Attorney Legal opinion to state that theres no acquisition proceedings BIAPPA release order(In case applied for BIAPPA approval) Validity of Power of Attorney if any

Tips for the people who wanna buy land near Intern... Again, theres an increase in interest rates of Ho... Real estate boom around Devanahalli area March (2)

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Posted by Galatea at 1:22 AM No comments:

Thursday, April 5, 2007

Again, theres an increase in interest rates of

http://bangalorealty.blogspot.in/2007_04_01_archive.html[1/5/2013 2:56:43 PM]

Bangalore Realty: April 2007

Housing Loan
As warned by the Bank & as I expected, interest rates have once again increased in this quarter. So, what should one choose? Fixed rate or Floating Rate? I dont have an answer for this. Ive seen finance advisers might give some answers that themselves are not sure of. Recently, I was talking to an executive of HDFC home loans; he speculates the floating rate can go upto 13%, not beyond that. I hope that turns true. With reference to RBIs hikes, already ICICI Bank hiked floating interest rates to 12.75% & HDFC Bank to 11.25% while the fixed rate remains at 13.25%. What it means to the buyers in Bangalore? I dont think buyers will shy away from buying land or apartment as the interest rates are going up. If they do then may be 10-20%. You call it a bubble; you call it Demand-Supply dynamics, real estate is growing crazily in Bengaluru. Disclosure: I'm on Housing loan with floating interest rate,there had been inrease in rates 2 times in the span of 7 Months & one more hike is notified in the Month of July :(
Posted by Galatea at 3:48 AM No comments:

Wednesday, April 4, 2007

Real estate boom around Devanahalli area

Real estate industry around Devanahalli area has grown without leaps & bounds. Here are some related FAQs to whom so ever it can help. Why this surge? -----------------As the first phase of new International airport is getting ready to be open by Apr 2008, the area around Devanahalli is a potential investment spot. Who administer the land around International Airport? -------------------------------------------------------A government body named BIAPPA stands for Bangalore International Airport Project Planning Authority owns the rights for land distribution, planning & approval around International Airport. Do they have a website? ------------------------Yes. They do. http://www.biaapa.in/ But, not updated since long time. Whats the address of BIAPPA office? -------------------------------------#10,Sulibele Road, Devanahalli Town, Bangalore Rural District, Bangalore-562110 Phone : 7682035

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Bangalore Realty: April 2007

Is there any Master plan for the land development? ----------------------------------------------------Yes. Theres a Master Plan published by BIAPPA which clearly mentions yellow zones for residential purposes. Zoning regulations have to be strictly followed to get the land registered.Please refer http://www.biaapa.in/for Jurisdiction section. Who are the main real estate players in that area? --------------------------------------------------Aishwarya Homes- I invested in their layout & made good profit City Square Developers-Bad Reputation of being a Fraud when they operated in the name of Happy Homes before rechristening themselves as CitiSquare developers. Renaissance Developers-Genuine.Tied up with Shoba to develop Villas. Aashraya Developers- No idea of their reputation What are the Projects currently going on in that area? ------------------------------------------------------Renaissance Ranch-Phase1 & Phase 2 Nirvana Builders-Phase1 & Phase 2 Villas near ITC Aishwarya Evergreen CitiSquare Vision Phase 1,2,3 & 4 Citi Square Bel Air Tulip Gardens Raashi Orchids RG villas Utopia The Retreat- satya sai developers Mulberry meadows Hollywood/Swiss Town Metrocorp-Villas- 1.24cr for 40x60 plot, 2cr 50x80 site Shoba Lifestle villas -2.5 cr Citi Square Aminini Aero Royal-Aishwarya Homes Aero Grand-Aishwarya Homes Aerozonna-Aishwarya Homes Aeropride-Aishwarya Homes Bonitas Residency Nitesh Key Biscayne-Villas Shriram bhairavi-Shriram PropCare Greek Agora Aspen heights Heritage Citi-Theres truck terminal planned in the same place according to Master Plan 2021 published by BIAPPA Vintage Homes-Lies in Green Belt according to Master Plan 2021 published by BIAPPA Aashraya Aero Spring Citi Square Transpark How many projects have BIAPPA approval? ---------------------------------------------Aero Royal Bonitas Bounty Citi Square Vision Partly Aero Grand-Partly Nirvana Builders Hollywood/Swiss Town Tulip Gardens-Partly Raashi Orchids Utopia

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Bangalore Realty: April 2007

Is there any Master plan for the land development? ----------------------------------------------------Yes. Theres a Master Plan published by BIAPPA which clearly mentions yellow zones for residential purposes. This plan is valid till 2021. Hows the land priced around that area? -----------------------------------------3-5 Kms vicinity of International Airport -Rs1500-1200 5-7 Kms vicinity of International Airport -Rs1200-900 7-10Kms vicinity of International Airport -Rs900-600 10-15Kms vicinity of International Airport -Rs600-400 What are rules & regulations for the layout developers to apply for BIAPPA approval? -------------------------------------------------------------------------------------BIAPPA will release only 60% of the plots to sell.40% will remain under government control. Observing the developments in the Layout and conformance to the development plan (40% of development including Compound, Sewage system, Roads, Plot numbering, Street lights, Water tank, Parks) the rest of the plots will be released for sale later. IVC road widening & the related chaos... -----------------------------------------IVC road stands for INTER VILLAGE CONNECTIVITY road. Widening of IVC road proposal is to connect MANGALORE/ HASSAN road (NH47) through NELAMANGALA via DODDABALLAPUR ROAD. This will also link TAVAREKERE from MAGADI ROAD. This will be made 300 ft road. Government has already put YELLOW STONES ON BOTH SIDES. People should not remove this stones. If removed, 25k penalty awarded. As of my knowledge, this development leads to some of the plots acquisition by Government in Airport City Layout by Citi Square and AeroCity layout by Aishwarya Homes. Is there any place to see in & around Devanahalli? --------------------------------------------------International Airport ofcourse!!!! Kidding, its not open for public visits yet. Jain Temple-Still Under construction,its expected to be complete by 2018. Ive visited it twicelooks good from outside, no architectural marvel as such. Devanahalli Fort-Ruled by Tippu sultanlooks interesting from the road Ive not seen it yet. Nandi Hills Disclosure: I owned a plot in Aero Royal purchased from Aishwarya Homes in late 2005. The deal went extremely well though there was a considerable delay in getting the site registered. They helped in reselling also & I sold it to a genuine buyer. Please dont think Im promoting Aishwarya Homes, Ive heard some of the people having bad experiences with them. I just turned out be lucky for not being one among them.Please do thorough investigation before shelling out hard earned money.
Posted by Galatea at 2:59 AM No comments:

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