Saturday, July 13, 2013

TOI News >Kar. Realty

Sept. 3

Bachelor Tenants – Prohibited in a Society

Throws up many points of controversy, which need to be accorded a mindfully practical approach; not necessarily having regard to the viewpoint of those who regard and go in for purchase of a flat or apartment as an 'investment', as opposed to as a place for self-living. In a manner of speaking, the premdominant motive, foremost idea, is to 'let out'- verging on a commerical adventure-not for own purpose.
No doubt, 'bachelor' cannot be rightly abhorred  as belonging to a class, so as to discriminate and deprive one, of his right to 'reside' /have a place to live. Tgat is not to say, that a purchaser.owner of a flat/apartment has a birth right (so called 'fundamental right) to have full freedom to do or refrain from doing anything, which woould prove/turn oout to be detrimental, such as of nuisance value, to the rest of them....    

18th July

High-rises, signifying nothing?

Three stories of transition to an uncertain future.
— Girijaa UpadhyayMumbai shows how Indian urban building styles are sinking into a hole of dreariness and uniformity. »

  1.  Link.
  2. "....Now, the middle classes settled for a vacuous idea, urban efficiency. A myth was created that for an island city such as Mumbai high-rises represented the most optimal use of land. ..." Very truly said; Going to the grass-root (its very "foundation") , in a manner of blunt speaking, it is as good or bad a myth created as- "BUILDING CASTLES IN THE AIR"
  3. Building castles in air - Thesaurus (

    Synonyms for building castles in air at with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.

  4. If you have built castles in the air, your work need not be lost; that is ...

    "If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them." - Henry David Thoreau quotes ...

  5. What is the meaning of building castles in the air - Wiki Answers › ... › History  European History  Castles

    Can you answer these Castles questions? ... What changes happened to concentriccastles? Answer it! ... Air will flow out of a building if the air outside is?
  6. For more browse>>>
15th July

What PE funds bring to developers


In recent years instances do have come to one's notice that the referred practice, considered for valid reasons to be unlawful and irregular in view / the light of the governing special law of State (s), very much in vogue in the past, has been waning / declining, if not become totally extinct.

Grounds of objection against that obnoxious practice are more than one. The main motivation behind, a surreptious one, has been saving of, verging on evasion of, stampduty properly due. Another aspect that has been unwittingly or otherwise oversighted is the deleterious and adverse effect / consequence of such a highly irregular and condemnable practice is its impact on the very "property rights' sought to be secured by the specially framed / structured State enactment.

Bonafide guess is that, apart from the Stamp duty authorities waking up, though belatedly, to the reality/ sordid story behind,  even the developers/ promoters of such projects  have had a serious rethinking, culminating in the change in practice. So much so, the contract agreement (s) is (are) known to have  been reframed/restructured, thereby ensuring that proper stamp duty is paid on the aggregate consideration; not merely on the portion of agreed consideration  for transfer of the 'land' (i.e. undivided interest). The referred change in practice, however, might not be an answer or solution to the other adverse effect or consequence of the dual contract agreement referred to in the highlighted portion above.   

For a detailed analysis of the intricate aspects hinted at above, the published articles (citation given below) -may have to be read >

(2003) 3 MLJ Pg.5 (journal) 
(2003)(4) KAR. L.J.Pg.1

1.  Expert panel will keep realtors, land sharks in check

<> A Silver Lining ?

Xcerpts .
An expert committee would be set up to examine provisions of various Acts to recommend suitable safeguards," the budget says. This scheme is expected to be similar to the Real EstateRegulation and Development (RERD) Bill, approved by the Union cabinet recently.

Several housing cooperative societies and private builders have duped thousands of customers in the recent past, after promising to give sites or houses. Most of the unorganized projects do not even have a complete set of approvals from the authorities.

"An expert committee would be set up to examine provisions of various Acts to recommend suitable safeguards,"
For home (unit- flats /apartments) buyers, no doubt, a welcome news. Hoping on hopes, as always ever, they may be enthused with a feeling of relief, howsoever week or of low-intensity that be. The only solace or relief has to be found in the belief, - Better Late Than Never. The matter of public regret is that the men who have had the powers of governance from time to time in the past in the State but for so long have never cared to address selves to an area which had remained neglected , rather over-sighted , for too long to be justified for any sane reason. Having at last taken the initiative, it can only be expected that it is taken forward with all sincerity, on a top priority basis, and reforms are put in place ; and implemented in as effectively and speedily as feasible, but in a wholesome manner.
No need to specially add,- the empowered authorities are sure to find enough clues and guidance -galore, in public domain, in the form of grievances aired by the affected public . To be noted, those are not confined up-to the stage of acquiring,, but continue even thereafter; that is, after put in possession and start living as a community. This is in no small measure attributable to the crucial fact that suitable changes have not yet been made, though inevitably warranted, in the State Co-operative Societies Act, for bringing in the housing societies within its purview of administration. As is common knowledge, States like Maharashtra have for quite long  been in the lead; and set an ideal example, as a trend setter, for the others lagging far behind to simply follow.
 click here.

2. Revise guidance value annually, say realtors

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