MODIFICATION AND AMENDMENT TO RERA-SALE AGREEMENT-KARNATAKA

The State Government, in a bid to rationalise and provide safety to the buyers of the property, has reviewed the contents and its impact of the Sale Agreement, which was notified earlier may come out with another set of conditions to safeguard the interests of the consumers/buyers.

But, has miserably failed to address the issues faced by the buyers, in spite of the complaints.  It is also felt that the complaints have not been properly redressed.  

As the RERA is still in its infancy stage, might need some more time to get ready with its arms to solve the issues faced by the buyers.

Hope, RERA might definitely a good law for the safety of the investments and transparency in the real estate transactions.

SEASONS GREETINGS TO OUR READERS

BEST WISHES TO ALL THE READERS ON THE OCCASION OF VIJAYADASHAMI

Better Connectivity to KIAL with four major roads- Proposal approved by the Government

Better Connectivity to KIAL with four major roads- Proposal approved by the Government

The State Cabinet, on Wednesday, approved a ₹2,095 crore proposal for upgrading four major roads in and around Bengaluru city for providing better road connectivity and ease traffic congestion to the Kempegowda International Airport (KIA) and the government-owned Karnataka Road Development Corporation Limited (KRDCL) is entrusted with the up gradation of  four roads with a total length of 150 km.

These single lane roads would be upgraded to two-lanes. The four roads are Hoskote-Budigere-Mylenahalli-Devanahalli International Airport Road (22 km, ₹420 cr), Nelamangala-Madhure-Byatha Road (43.5 km, ₹505 crore), Anekal-Attibele-Sarjapur-Vartur-Whitefield-Hosakote Road (47.5 km, ₹625 crore), and Harohalli-Uruganadoddi-KIADB Industrial Area-Jigani-Anekal Road (42km, ₹545 crore).

Illegal building/structure demolished in sadaramangala, tigalarpalya, Bangalore east by BDA

            Bangalore Development Authority (BDA) officials demolished the security check post of the apartment following a High Court order to clear the 80-foot public road for motorists. This road was blocked and the public could not use it for the past few years.
          BDA stated, that as per the Revised Master Plan 2015, this is a public road that was blocked by vested interests,  Following the writ petition filed by an applicant, the Karnataka High Court ordered the BDA to clear the road for public use before the next PIL hearing that is scheduled on September 12.

A 80ft road in tigalarapalya, sadaramangala, Bangalore east was blocked in an illegal and  unauthorized manner and  the HC has ordered us to clear the road before September 12 and the BDA complied with the High Court Orders.

RERA KARNATAKA NOTIFIED ON 10-07-2017

The much awaited Karnataka Real Estate (Regulation and Development Rules) Act, was finally notified by the State government on Monday.

Contrary to the earlier understanding that the rules would give exemption to ongoing projects, the final notification has brought all apartment projects where works are still going on under the ambit of RERA. The rules state that only those projects where all development works have been completed, and where sale and lease deeds of 60% of the apartments/houses/plots are executed, are exempted.

While the State Cabinet had approved the draft rules last week, confusion over what would constitute an ongoing project had persisted till the final notification. Government sources had indicated that projects, where 60% of the work was completed, would be exempted. However, the rules make it clear that the 60% clause will be applied only for sale and lease deeds, not for development works.

The rules exempt those layouts where streets, civic amenities sites and other services have been handed over to the local authority for maintenance. They also exempt apartment projects where common areas and facilities have been handed over to the registered association consisting of a majority of allottees. Projects where development works have been completed as per the Act and certificated by the competent agency, and where an application has been filed for the issue of completion certificate, are also exempt.

For those projects where partial occupancy certificate is obtained, the exemption is limited to the portion for which the certificate is obtained.

TAKE PRECAUTION - PREVENTION - AGAINST "WANNACRY" WATCH WEBCAST AT 11-00 A.M TODAY. http://webcast.gov.in/cert-in/

Dear friends,

It has been reported that a new ransomware named as "Wannacry" is spreading widely. Wannacry encrypts the files on infected Windows systems. This ransomware spreads by exploiting vulnerable Windows Systems. The Indian Computer Emergency Response Team has issued advisory regarding prevention of this threat.

In view of high damage potential of the ransomware a webcast has been arranged to create awareness among users/organisations.

The webcast on the topic "Prevention of WannaCry Ransomware Threat - session by CERT-In" will be broadcast onhttp://webcast.gov.in/cert-in/ on 15th May 2017 at 11 AM

Please do tune in to the broadcast to learn more and protect yourself.

Team MyGov

A GOVERNMENT OF INDIA INITIATIVE

RERA MIGHT BE NOTIFIED BY MAY 2017 - Buyers might be benefited by this legislation

 May 1, 2017 (RERA) (Regulation & Development) Act, 2016 (RERA) will be implemented from this day.

It is believed that  implementation of RERA is likely to bring in transparency in the sector. 

RERA will protect the interest of the homebuyer and ensure timely delivery of projects.

Under the Act, builders have to deposit 70 per cent of the collected amount in an escrow account to ensure that money is not diverted from one project to another. 

There will be fines and penalties if the developer does not adhere to delivery guidelines.

Moreover, regulatory bodies and appellate tribunals have to be set up in each state to solve builder-buyer disputes within 120 days. 

Besides, promoters will not be able to change a project's design without buyers' consent, and carpet area will carry a uniform definition - a common reason for builder-buyer disputes.

The Highlights of RERA are:

1)Escrow account: The developer will have to transfer 70 per cent money received from home buyers to an escrow account. This money will be withdrawn as per the stages of construction, approved by engineers and chartered accountants of builders. This will prevent developers from using the money raised for one project for any other project.

2)Pay for what you get: The buyer will pay only for the carpet area (area within walls). The builder can't charge for the super built-up area, as is the practice at present, where you get 900-1,000 sq. ft. carpet area if you book a 1,300 sq. ft. house (the rest is balconies and common spaces). 

The new law is expected to stop this practice.

3)Clearances before selling: Developers will be able to sell projects only after the necessary clearances. 

Under RERA, builders and agents will have to register themselves with the regulator and get all projects with more than eight apartments registered before launch. This will take care of common malpractices such as selling property before getting the necessary clearances. The builder will also have to disclose every detail about the project - number of apartments, carpet area, etc.

4) Five-year warranty: The builder will have to provide for any structural defect in the building for five years. 

5)  The prices and the implementation of RERA?

Property prices are not connected to RERA. It is determined by demand and supply in the market.  The prices will see a correction after the implementation of RERA. However, margins are expected to increase because of lower cost of construction and developers will be in a position to pass the benefits to customers."

6) Role of states: Although RERA is a central law, its implementation will depend on state governments, as real estate is a state subject.

Though RERA promises to bring transparency in the real estate sector, dilution of the Act at the state level is a cause for concern. A few state governments have done away with application of the Act on under-construction properties, while the Central Act clearly states it has to apply to both under-construction and new projects. 

TANKER WATER IS UNFIT FOR HUMAN USE IN BANGALORE

TANKER WATER IS UNFIT FOR HUMAN USE IN BANGALORE

Using water from water tankers – basically, groundwater from deep under the surface – then think twice. 

A shocking revelation by the Central water resource ministry last week was that underground water in Bengaluru Urban and Rural areas contains dissolved solids like hard metals and chemicals over and above the permissible limits.

According to the Centre’s estimates, groundwater in Bengaluru Urban and Rural districts has chemicals and other dissolved solids above permissible limits or the national average, thus rendering it unfit for human consumption.

The seemingly fresh water with crystal clarity may lure you, but what goes unnoticed is the extent of total dissolved solids in that water in Bengaluru.

 Its consumption might land you with severe kidney problems, cancers, blue baby syndrome and dental disorders as the water is contaminated with high levels of chemicals, metal fluorides, nitrate, salinity and iron, besides sewage due to unscientific handling of solid waste and sewage that allows sewage to percolate down into the groundwater.

 Karnataka health department, too, has ordered mandatory health certificate for water supplied through water tankers to ensure pure and contaminant-free potable water.

“The survey and the groundwater quality studies were taken up by the Central Ground Water Board (CGWB) and other state departments, showing sporadic occurrence of contaminants in groundwater above the permissible level prescribed by Bureau of Indian Standards (BIS). Various scientific bodies and premier research organisations have been directed to take up studies to assess the impact of these contaminants on human health,” the report stated.

As per the Centre’s data, water samples from Bengaluru revealed salinity levels above the permissible limit of electrical conductivity above 3,000 micro mhos/cm. Similarly, fluoride levels stood above the permissible levels of 1.5 mg/litre and nitrate levels above the permissible quantity of 45 mg/litre.

Bengaluru’s unregulated sewage is the root cause of all problems, especially the high levels of nitrates in the groundwater. “More than 50 percent of sewage is let into the storm water drains, thereby allowing it to percolate naturally and get into the underground water table. Unless we do something to change the sewage conveyance system. 

Anthropogenic is largely human-made pollution by unscientific handling of the sewage.”



THE RESULT OF USING CONTAMINATED WATER AND ITS EFFECTS


* Kidney-failure 

* Fluorosis affecting the gums and teeth 

* Contaminants get inside body through water and feeding on vegetables, fruits grown downstream of polluted water bodies and serious and chronic health disorders.

POWER TARIFF IN KARNATAKA WILL GO UP FROM APRIL, 2017

POWER TARIFF IS UP IN KARNATAKA FROM APRIL,2017

The average tariff increase is now 48 paise per unit ranging from 15 paise to 50 paise per unit for all categories. In the case of Bescom areas, three additional slabs have been introduced and was stated that this increase for the last year`s deficit.

The reasons  for the tariff increase include recovery of revenue gap of RS. 2,296 crore for FY 16-17 (which accounts for 42 paise per unit), increase in power purchase cost for 17-18 (which is about six paise), increase in fuel cost of thermal power plants and fuel adjustment cost (FAC) amounting to Rs. 280 crore, causing an average increase of 20 paise per unit. With the addition of FAC, the average hike would be 53 paise per unit.

Importantly, the KERC is drawing up guidelines to fix responsibility on officers of Escoms to conduct monthly grievance redressal meetings. The commission will levy a penalty up to Rs. 1 lakh per sub division by the officer concerned.

The Indian Space Research Organisation's workhorse rocket PSLV created a record today by launching 104 satellites in a single mission from the space centre at Sriharikota, Andhra Pradesh.

We congratulate all and every person directly and indirectly involved in this program for their contribution to the space history of INDIA.

We thank Mr.AS Kiran Kumar and congratulate him on the great success.

We thank one and all for their hard work and success.

The Indian Space Research Organisation's workhorse rocket PSLV created a record today by launching 104 satellites in a single mission from the space centre at Sriharikota, Andhra Pradesh.

Polar Satellite Launch Vehicle or PSLV, in its 39th flight (PSLV-C37), launched the 714 kg Cartosat-2 series satellite for earth observation along with 103 co-passenger satellites, together weighing about 664 kg at lift off.

Cartosat 2, India's nano satellites separated from launch vehicle

Engines switched off; PSLV reaches orbit

PSLV has crossed about 5000 km since it launched (approximately)

PSLV-C37/Cartosat-2 series Mission Lift off Normal as expected. PSLV-C37/Cartosat-2 series Mission Lift off Normal as expected: ISRO

Income Tax Investigation of Suspicious Cash Deposited by 18 lakh people post demonetization – will be sent notices via Email and SMS

Income Tax Investigation of Suspicious Cash Deposited by 18 lakh people post demonetization – will be sent notices via Email and SMS

As much as Rs 4.17 lakh crore of suspicious cash was deposited by about 18 lakh people post demonetisation of high value currency notes, CBDT Chairman Sushil Chandra said on Thursday.

Of the people whose data the income tax department now has, email and SMS queries have been sent to 13 lakh people today, he said addressing a post-Budget seminar here.

"We have (accumulated) around 18 lakh persons data amounting to Rs 4.17 lakh crore deposits into accounts.

Another data (for) 10 lakh is ready. We want that this should be completed and we have today issued 13 lakh SMS and email to the persons about whom we have details," he said.

The rest of the 5 lakh people would be receiving SMS and emails tomorrow for clarification under the "Operation Clean Money".

The Central Board of Direct Taxes (CBDT), he said, is moving on a very fast track to ensure all untaxed are brought under the tax net.

The information on 18 lakh depositors is part of CBDT's 'Swachh Dhan Abhiyan' (Operation Clean Money) drive that uses data analytics and taxpayer profiling to detect potential tax evasion on cash deposits post November 8 decision to junk 500 and 1,000 rupee notes.

He said the Income Tax Department has identified 18 lakh people who have made "suspicious" cash deposits post demonetisation.

Chandra had earlier this week stated that 10 days' time would be given to people to reply to the e-communication, and replies can be filed by logging on to the e-filing portal of the I-T department.

In the initial phase, the CBDT has put on e-filing portal the data of those persons who have deposited Rs 5 lakh or more of suspicious nature and have poor tax compliance after November 8, Chandra said.

He said data on 18 lakh taxpayers has been uploaded on e-filing portal. These people while filing reply have to explain to the tax department the sources of deposits.

The deposits will be compared with the income profile, turnover and other parameters available in the income tax data bank to see if they match with tax paying profile.