Daily News and Views on Property Matters and Political Matters, Online TV & Cyber media.
Tuesday 25-11-2014 “Blunt and Sharp Daily News Portal”
Portal Website with online news daily at: www.propertypolitics.net Mobile: 9945116476
=====================================================================================================================
M.S.Yatnatti : Editor and Video Journalist: D.V.Ramu News Reporter: Swarnamba .R.L Video Journalist and reporter
=================================================================================================================================================
NO ENTRY MADE OF COURT ORDERS IN RTC
BY ANEKAL THASILDAR
By: M.S.Yatnatti: Editor and Video Journalist Bangaluru: Once again request is made to Anekal Thasildar to make entry of Interim court orders in RTC in
respect of court orders OS 2688/06 Dated 18-01-2011 (High Court Order in WP 6257/2012 (GM-CPC) Dated 23-08-2013 in respect of Survey Numbers
30/7 (0.05 Guntas) and 88/6 (1 Acres 08 Guntas) and 89/1 (2 Acres 13 Guntas) and 108/8(0-05 Guntas ) and 109/4 (0-12 Guntas) and 108/08 (0-05 Guntas
)and 108/10 (4 Acres -29 Guntas )and 30/9 (0-06 Guntas )and 78/6 (0-18 Guntas and 78/4(0-14 Guntas (Totaling 9 Acres 30 guntas) of Maragondanhalli
Village Jigani Hobli Anekal Taluka Bangalore Urban District.
Interim Court orders submitted to Anekal Thasildar with request to enter the court orders in RTC on 12-12-2007 but till today no entry is made in RTC and Several years
of applications and RTI applications were not sufficient for mutations in RTC. Is Corruption unlimited in Thasildars offices? Nothing happens without money? Court
orders submitted and even then mutation not done and still applicants are waiting for action. Revenue ministry in Karnataka has taken note of RTC Mutations not
happening legally at offices and now Thasildar is authorized to correct the RTC at Taluka Level Thasildars should do effect immediately mutations as interim or final court
orders . Thasildar cannot entertain any objections from anybody because it is pertains to court orders as per rules Thasildar is duty bound to effect the mutation as per
rules. Bhoomi (meaning land) is the project of on-line delivery and management of land records in Karnataka. It provides transparency in land records management with
better citizen services and takes discretion away from civil servants at operating levels.
Mutation is a process through which Owner's name or his particulars like liabilities get changed because of registered transactions and on receipt of J-Slip-Sale through
registered deed or court orders. Now criminal cases will filed against Thasildars if mutations are not done as per law. Applicants will be forced to file criminal complaints
under section 188 and 166 and 166A of IPC for getting the work done in Government officers.
What is Mutation: Mutation is a process through which Owner's name or his particulars like liabilities get changed because of some type of transactions. The type of
transaction may be one of the following:
1. J-Slip-Sale through registered deed. 2. Inheritance - Change of Ownership because of death of the Owner. 3. Division of Land within the Family.
4. Pledge / Release - Change in liabilities because of loan from bank or repayment to bank. 5. Court Decree - Based on the Court Order. 6. Alienation - Conversion of land
from agricultural to other purposes. 7. Acquisition by Government for Public purpose. 8. Grant of Land by Government to Poor People ."
Increasing guidance Value: Every regular intervals Government of Karnataka increases guidance value of properties and it impact the buyers and consumers and property
prices. Realty prices in Bengaluru are set to go north with the state government hiking the guidance value -the minimum valuation at which properties have to be registered
-by up to 30% and increase in guidance value taking effect 13-11-2014 . This makes registering properties more expensive since the guidance value is the base rate for fixing
stamp duty and other charges. Guidance values were last revised in August 2013 and this revision comes amid government assertions that it'll be an annual affair. The value
has been hiked across the state. Finance department sources said the hike was inevitable as revenue from stamp duties had seen a slump of 10-15% this year. Following the
revision, the revenue department expects to meet the target of Rs 6,800 crore in the next four months.
Reportedly the realty sector fears an increase in guidance value will reduce transactions in Bengaluru. “This is not good either for the industry or homebuyers. Instead of
increasing guidance value randomly , the government should look to conduct a scientific study of rates through an outside agency with inputs from both government and
developers. Such a study will give a fair amount of fixing guidance values,“ Suresh Hari, secretary , CREDAI Bangalore. Reportedly Farook Mahmood, chairman &
managing director, Silverline Group, said frequent increase in guidance value is not good as it creates unnecessary price hike and ultimately burdens the buyer who is
already coping with VAT and service tax, among others. We've also found that in many locations the actual values are much lower than the proposed new guidance values,“
he added. Revision objective; “Though the revision will bring more revenue to the exchequer, It is stated that Government main aim was to check the black money
component in property transactions. Actual transactions often take place much above the government's prescribed rates (guidance value).
Reportedly Residential land prices in Bengaluru are set to go north with an increase in guidance value taking effect 13-11-2014 . The second revision in 15
months has seen guidance value in some prime areas touch Rs 20,000sqft.The hike in guidance value the minimum valuation at which properties have to be
registered ranges between 5% and 30% across the city. Guidance value deter mines stamp duty and other charges to be paid during
registration.Sadashivnagar is the most expensive locality in Bengaluru, followed by Malleswaram and Cunningham Road, according to the official rates
announced on Thursday.Realty experts point out that the market value of properties on the top end is Rs 33,000sqft to Rs 35,000 sqft.Apartments in
Kingfisher Towers (the homes at UB City) continue to hold the record of being the most expensive residential properties, with guidance value hovering
between Rs 20,250sqft and Rs 21,350sqft.Guidance value in 90% of Sadashivnagar is Rs 20,000. The lowest guidance value in the locality, said to be home
to the first-generation rich postindependence, is Rs 15,000.Palace Orchards -a premium residential locality stretching between Cavuery Theatre and
Bashyam Circle in Sadashivnagar -has the second highest guidance value: Rs 20,000sqft. While flat prices tou ched the Rs 20,000 per sqft mark officially
last year, it's the first time price of land for residences has hit the Rs 20,000 mark, according to information provided by Bhojya Naik, deputy inspector
general, stamps and regis tration department.Guidance value on all arterial streets in CBD has been hiked between 5% and 15%.Kasturba Road recorded
the highest hike of 14%. The value on MG Road stretch from Kasturba Road to Trinity Circle and Commercial Street has gone up by 10% and 8%.
Property prices may go up with the State government proposing an upward revision in the guidance value of immovable properties in Bangalore. With the increased
guidance values in Bangalore from the government of Karnataka coming into effect, the real estate market of the city is expected to witness a hike in values. As per the
increased guidance values, the properties are expected to witness a hike of 20-30 per cent. “This increase has led to pushing up of the minimum price at which a property is
sold. As a result, the property will be registered at a higher amount,”.
Guidance value is set by the State Government and is the minimum value below which no residential property can be registered. It is the minimum price for registration
and not the price at which the property will be sold. The buyers will have to shell out a larger amount for stamp paper and registration fees which consequently, will
increase the property prices.What can be achieved by the New Guidance Value?.The minimum value at which a property can be registered will be the Guidance
Value.Stamp duty is 5% and registration fee is 1% of the property registration value.In 2011-12, government revenue from stamp duty and registration was Rs. 5,020
crores and for this fiscal year 2013 -2014, the target is Rs. 6,500 crores.With the introduction of the new Guidance Value, government is expecting to collect Rs 6,800 crore
as additional revenue, .lso, the plan is to set up a dedicated valuation cell to regularly monitor market values; and based on its input, the guidance values will be revised
annually.
=================================================================================================
================================================================
Page: 2; Daily News and Views on Property Matters and Political Matters, Online TV & Cyber media
Tuesday 25-11-2014 “Blunt and Sharp” Daily News Portal at: www.propertypolitics.net Mobile: 9945116476
================================================================
Registration mandatory and Stamp duty: Nonjudicial stamp paper of requisite value as prescribed by the Stamp Act of the State concerned. Deed of property needs to be
registered at the jurisdictional sub-registrar's office. All parties concerned need to be present at the time of registration. All documents should be presented in original. In
case the purchaser cannot be present personally before the sub-registrar, he can give a power of attorney to a representative to sign and present the documents on his
behalf. The photo of the purchaser, thumb prints and signature are entered on the mother deed. The documents should be presented for registration within four months
from the date of execution. If it is not done within four months, a grace period of another four months is allowed on payment of penalty. A maximum penalty of 10 times the
registration charges may be levied by the registrar. The liability to pay stamp duty as well as the registration charges lies with the purchaser of the property.Mother deed
traces history of ownership: Ownership of property changes hands through a series of transactions. It is very important to trace the ownership of a property, especially
when it is either being purchased or is being offered as a security. Mother deed acts as the main legal document as evidence ownership of property. It also acts as the main
document for further sale by the buyer as it establishes proof of his ownership. Mother deed is an important document in a property transaction. This is the document that
traces the origin of property as well as all other relevant conveyance deeds. It is the main document to determine ownership of a property. Tracing ownerships should
always begin with scrutiny of the earliest document recorded. If such documents are not made available, certified copies have to be obtained from the registering
authorities. This process should not be ignored. Earlier documents are called mother or parent documents.Subsequently, a property generally changes hands by various
modes like sale, gift, partition, and inheritance. Each change of ownership has to be traced with the help of a transfer document. The sequence should be in chronological
order, continuous and unbroken. Any missing link has to be carefully scrutinised by referring to the records at registering offices, revenue records and recitals in other
documents, and if possible, by ascertaining from the parties concerned. The flow should be traced up to the present owner. The right of each intermediate owner to transfer
the property should be thoroughly checked. It is important to note that the partition deed, gift deed, release deed, settlement deed, and power of attorney are not mother
documents. The buyer should ensure the title of the seller before the execution of the sale deed. It should be checked whether the seller is the true owner of the property. The
mother deed is executed between the original owner of a property and the agency transferring or selling it.
IIMB- MagicBricks Partner Launch Housing Sentiment Index:Research on real estate in India is in its infancy in spite of it being a major asset class estimated to contribute
about 6.3% of India's GDP in 2013 through private residential investment and consumption spending on housing services. National Housing Board's RESIDEX and RBI's
Housing Price Index (HPI) are currently the only available indexes tracking the Indian Real Estate Markets. There is however no credible and impassionate tracking of the
sentiment of residential real estate players in India currently. Indian Institute of Management, Bangalore (IIMB)'s Century Real Estate Research Initiative (CRERI) has
developed the first robust leading indicator of real estate sentiments beginning with the Indian residential market to serve this space. IIMB-CRERI has tied up with
MagicBricks (MB), a major online real estate portal with wide reach across the country and gathered data from home buyers through a survey questionnaire designed to
capture buyer sentiment, demographics and micro market preferences. The goal of this index is to effectively capture consumer sentiments in 8 major cities across India to
begin with. We consider this attempt to capture consumer sentiments in this sector a first of its kind in the country.
Makaan.com, fastest growing property website in India was established with the mission to connect relevant buyers and sellers of real estate , massively increasing the
propensity of transactions. The website is committed to help it's users make wise and profitable decisions relating to buying, selling, renting and leasing of properties in
India and key global geographies. Makaan.com is part of People Group, owners of world famous brands like Shaadi.com & Mauj Mobile.
moneycontrol.com was conceived as a personal finance portal in February, 1999 and it took almost nine months to give it birth on November 5, 1999. And this precocious
child of the cyberworld has been growing at a breath taking rate ever since. On the way, we had another memorable date with destiny, when we were acquired by eEighteen.Com Limited on June 1, 2000 and became part of the Television Eighteen India Limited group. Today, moneycontrol.com is the premier end-to-end business and
finance vortal for Indian netizens everywhere. Come, be part of the journey as our valued member and leave it to us to make this relationship click.
http://www.moneycontrol.com/property-rates/bangalore/99acres-residential.html?ver=1
http://www.indiaproperties.com : India's leading property site with thousands of properties for sale and rent in 215+cities across India. More than 180,000 visitors from over
145 countries search our site every month for their residential and commercial real estate needs. Properties of 27 categories like flats and apartments are listed or advertised
and allow to search, buy, rent or take on lease. Property owners list their properties for sale or rent; developers and builders list to advertise their projects to a global
audience; real estate consultants and brokers list properties to expand their market place. For queries, FAQs, drafts of legal documents or for resolving doubts, the
Research and Advisory section provides expert answers. Refer to the Knowledge Bank for home loan interest rates and real estate articles. There are calculators for EMI,
amortization and area conversion. Also included is a list of real estate glossary terms and a book on real estate (Property Matters Made Easy), which is a guide to buying or
selling a property. To know more about real estate, property, infrastructure and retail in India, subscribe to a free newsletter in one easy step. The newsletter archives
contain useful articles, tips, legal decisions, tax implications and valuable information on a variety of property related subjects. Bangaluru Known variously as the IT capital
of India and Silicon Valley of India, the city has been renamed Bengaluru (also spelt as Bengalooru). Its significant contribution to the lexicon of global IT is the term
"bangalored". The city pages contain a wealth of information useful while buying, selling or renting a property. It is convenient for those on transfer or relocation as the
property rates or market rates of various localities, areas and locations are listed mostly on "Rate per sq. ft." basis. Know more about the history of Bangalore, its
population, housing and commercial space demand, property prices, how it is divided into various zones and sectors. There is a lot of information and data on hotels,
boarding and lodging facilities, restaurants and eateries, banks and important telephone numbers of civic utilities like police, electricity service, hospitals and 24 hour
chemist shops. Movers, packers, move management firms and companies too can offer their corporate clients a total package deal with property and property related
information as well as relocation information like schools and admissions.
http://www.magicbricks.com : The portal provides a platform for property buyers & sellers to locate properties of interest & source info on real estate. Search Real Estate
Properties in India at Magicbricks, the best property site in India. Buy, Sell, Rent residential and commercial properties. Magicbricks, a division of Times Internet Limited,
is a wholly owned subsidiary of Bennett, Coleman & Co. Ltd (The Times Group) is a website that provides a common platform for property buyers & sellers to locate
properties of interest in India, and source information about all property related issues.
CONSULTANCY HELP LINE
You may have problems with Government Departments PWD, BDA, BMRDA, KIADB, TOWN PLANNING DEPARTMENTS AND
Development Authorities BBMP, Taluka office, D.C. Office, Corporation, K.S.R.T.C., Commercial Tax Offices, K.E.B., Pension
problems, Acquisitions of Land Problems , Khata, Bifurcation, Tax Revision. Banks Problems etc, which may be have been pending
for months, and years in Government files etc.
Everybody is facing Problems, Problems?
Kindly write to us, we analyze and convince our selves and if appropriate then we will take your problems, to concerned
authorities, ministries, i.e., through our Property Politics Daily News Portal and try to help you. We also provide consultancy and
Liaison service on case to case bases as per agreed terms and fees. Write your problems with Xerox copies,
M.S.Yatnatti , Editor and Video Journalist and Consultant Mobile: 9945116476
E-Mail: msyatnatti@yahoo.com propertypolitics@gmail.com
====================================================================================================================
Online News Portal Edited Printed Published and Owned By M.S YATNATTI at No 677 Gurukrupa Gnana Bharathi Layout Valagerahally Kengeri –Bangalore: 560059
Editor –In –Chief M.S YATNATTI E-mail :propertypolitics@gmail.com Phone : 9945116476
Unsolicited material may not be returned. The opinion of writers are their own ,not our .We are not responsible for incorrect advertisement listings and
.We do all we can to ensure correctness ,but readers are advised to recheck with concerned establishment before entering into binding contract .No part of this
publication should reproduced without our written permission. Legal jurisdiction restricted to Bangalore only