Realignment brings metro line closer to people’s bedrooms -The Hindu.

There is another realignment of Metro and is effecting another block of residents in jayanagar 8th block. Here is the link for the newspaper article.  I hope the information will help people who wants to buy properties in jayanagar and near jayadeva junction near bannerghatta road.

 

http://www.thehindu.com/news/cities/bangalore/realignment-brings-metro-line-closer-to-peoples-bedrooms/article5065440.ece?homepage=true#comments

Approval for bill to crack down on unscrupulous realtors

Centres plans regulator to keep unscrupulous builders on a leash

In a big relief to home-buyers, who are often duped by fly-by-night realtors, the Union Cabinet on Tuesday cleared the Real Estate (Regulation and Development) Bill. It seeks to establish a regulator that will keep unscrupulous builders on a leash and provides for a jail term to developers who put out misleading advertisements about projects.

A brainchild of Housing and Urban Poverty Alleviation Minister Ajay Maken, the Bill seeks to create a uniform regulatory environment. It will allow builders or developers to sell their projects only after they receive all statutory clearances. Furthermore, developers can launch projects only after getting all statutory clearances. The Cabinet discussed the Bill at its April 2 meeting, but deferred it for further consultations.

The Bill seeks to make it mandatory for a developer to maintain a separate bank account for every project to ensure that the money raised for it is not diverted. It provides for a clear definition of the carpet area and prohibits developers from selling houses or flats on the basis of an ambiguous ‘super area.’ Developers will be barred from collecting money from buyers before receiving all permits to start construction.

All clearances will have to be submitted to the regulator and displayed on a website before construction begins. The measure lays out strict provisions to deter builders or developers from putting misleading advertisements by carrying photographs of an actual site. Failure on the part of a developer to comply with these rules will attract a penalty, which may be up to 10 per cent of the project cost. A repeat offence can land him in jail.

Developers will be required to keep aside 70 per cent or less — as decided by the competent authority — of the buyer’s funds in a separate account to ensure timely completion of projects. The buyers are entitled to full refund, with interest, in case of any delay in the completion of projects. Registration of projects with the regulatory authority is a must. They will not be allowed to take more than 10 per cent in advance payment without a written agreement with buyers.

http://www.thehindu.com/news/national/approval-for-bill-to-crack-down-on-unscrupulous-realtors/article4782163.ece?homepage=true

I thought this info was important for property buyers. As this is applicable for private builders, it should surely go on to touch the government agencies who also announce large projects and do not develop the same for years and years.   -Thanks.

Expression of Interest From Interior Designers.

Expression of interest is invited  from reputed interior designers cosultants for a four star hotel interior designs and decorations at banjara hills, Hyderabad. The comapny is looking for company profile and summary of ongoing projects etc.

The contact details of company who owns the hotel is with me. If anybody interested in adding my paintings in their designs, i could provide the contact details. You can reach me on my email addresses.
cpbprasad@gmail.com, cpbprasad@yahoo.com

GOMP Through MPSEDCL Calls For EOI For A Co-Developer Of IT SEZ.

Government of Madhya Pradesh Through M.P.State Eclectronics Development Corporation Ltd, has called for Expression of Interest and REP for becoming a co-developer for establishing & marketing of IT SEZ at Bhopal, Gwalior and Jabalpur.

The areas identified are as below,

1.Bhopal 180 Acres – 02 Kms from Bhopal Airport.
2.Gwalior 30 Acres – 10 Kms from Gwalior Railway Station.
3.Jabalpur 90 Acres – 02 Kms from MPSEB Headquarters.

The last date for purchase of RFQ/REP is 14th April 2008, and last date for submitting is 15th April 2008, 4 PM, More details can be had from,

Shri Anurag Shrivastav
The Managing Director,
M.P.State Electronics Development Corporation Ltd,
147, Zone-1, MP Nagar
Bhopal- 462016
Tel-(0755)-2769823, (0755)-2769814,
Fax-(0755)-2769824,
email: anurag01@fastmail.fm, anurag@mp.nic.in
http://www.mpsedc.com

GOK Has Extended The Sakrama Deadline To 30.06.2008.

Government of Karnataka has extended the sakrama scheme deadline to 30.06.2008, where citizens could be help by the new government formed after May 08 elections.