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Wednesday, 7 December 2016

NECESSITY FOR A REAL ESTATE ACT FOR REGULATION AND DEVELOPMENT

NECESSITY FOR A REAL ESTATE ACT FOR REGULATION AND DEVELOPMENT

The promoter regulation exhibitions of diverse States tried to oversee what could be considered as excesses by the area division i.e., (i) assembling monster entireties notwithstanding going before the backing of improvement proposals, (ii) making a home advance on the property before or in the wake of going into a comprehension of offer with pariahs, without letting them know of the home advance, (iii) not passing on lofts in time, (iv) changing approval orchestrates midway, (v) not trading apartment suite to individual level purchasers or to cabin social requests, with the friendly trust that the FAR/FSI in the zone would addition and they could advantage, (vi) gathering monstrous upkeep costs and siphoning it off through swelled charges, (vii) issuing misleading advertisements, et cetera. All these and diverse issues ought to be managed by the Law, and can't be left to market qualities, since the merited lifetime speculation assets of locals are incorporated. Despite a couple States bringing laws, there is no denying that the Real Estate zone is still a champion amongst the most unregulated, in so far as relations between the fashioner/promoter/designer and the purchaser are concerned. As being what is shown, there is a fundamental prerequisite for a model Real Estate (Regulation and Development) Act.

The Central Government had reported a Model Real Estate (Regulation and Development) Act, which was set up for trade before it was brought before Parliament. It envisions managerial and re-evaluating forces to direct, control and propel change by improvement, arrangement, trade and organization of private pads. Regardless of the way that the model authorization is an acknowledged move to pass on control to the division, the proposed institution is not tying on States, which need to request separate establishments.

The regulatory force proposed is despite existing forces under particular adjacent, masterminding, salary and obligation establishments. There are numerous licenses and respects to be gained before starting change and, investigating the way our systems work, the new proposed forces would simply put off backings, add to the cost and make additional structures that would simply set the clock back.

This is the season of liberalization. The proposed order will simply take the area business back to the grant raj period. Development of additional forces has reliably incited more corruption. Over the top solicitations by forces interminably incite puts off and cost increasing, finally borne by the purchaser. Vitality to such powers has generally incited its misuse, and no system to deal with this threat has yet been found. Especially in the Real Estate division, promoters ought to be made reliable and at danger so that the plenitudes grumbled of by the nationals and monetary authorities are managed by Law coordinated through Courts.

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Tuesday, 6 December 2016

Sensible Colours

Sensible Colours

If you are using many clolours in one single room, make sure you use a colour at least three times in the same room.

» You could use shades and tints of that colour, e.g. your curtains, pillows and tablecloth can be of the same colour. This gives a look of harmony and help avoid the 'too much' and 'confused' look.

» For filling space, use warm colours like reds, yellows and oranges. They tend to grab the eye and fill the space and are soothing and warm.

» For giving an illusion of more and open space, use cool colours like blues, greens and violets.

» Use vertical stripes on walls and curtains for an illusion of height.

» Light coloured walls and ceilings make the room look larger and more spacious.

» Try to avoid contradicting colours and themes, If you want your room to look larger and need to use cool colours to achieve it, choose a theme which goes with cool colours.

» If same coloured sofa, carpet and other upholstery give a monotonous look, use colourful cushions and wall hangings to break the monotony.

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Monday, 5 December 2016

WOODEN FLOORS

WOODEN FLOORS

In recent times, picket floors have caught patrons fancy in a very huge means. Inside homes, one will notice them within the master suite, the front room, the area and therefore the kid's room. Among the business institutions, the restaurants, low retailers, and up market stores that are additional in variety have started putting in picket floors currently.

Today, picket floors became additional widespread chiefly thanks to their aesthetics. They give the impression of being terribly lovely and that they conjointly impart a natural feel to your interior. They’re specially suited to households that litter youngsters, who tend to pay lots of your time on the ground. They’re terribly straightforward to keep up. All they need is regular wiping and that they still look sensible for years. Picket floors are terribly straightforward to put in.

An entire High financial gain cluster (HIG) flat may be wrapped in twenty four to forty eight hours, those that have an interest, will lay these picket floors over their existing floors. They need a tongue and might groove the mechanism. Suppose, one does not need to continue with the picket floors, they'll conjointly uninstall them simply. If one is shifting from one house to a different, he/she will take apart of their picket floor together with them, with none harm either to the ground or to the house.

Wooden floors area unit created from individual boards and it conjointly works in step with their advantage. If one a part of the ground gets broken, they solely ought to replace one or 2 boards. Hence, in recently, most brands provide a guaranty of a minimum of ten years. picket floors are of 2 categories: Real picket floors and laminate picket floors.

While the previous, because the nature implies, is created from real wood, laminate floors area unit created from high density fiber boards. the previous area unit dearer and would value something between Rs.200 and 600 per sq.ft. But, they conjointly get broken additional simply and thus need additional careful maintenance. Laminate floors, in contrast are cheap. Their value ranges from Rs.100 to 250 per sq.ft, and area unit additional immune to harm. The great factor is that, nowadays, even the laminate floors look sensible and real as real picket floors.

Dual Width:

Today, individuals get picket floors wherever the planks are accessible in 2 widths. Interior Designers, recommend that they must use the planks with the larger breadth in larger areas and victimization the narrower planks in a very smaller room create a way of house.

Wide Variety:

Wooden floors area unit made up of a good type of woods.

Precautions:

When one installs picket floors, he/she can't be as rough and carefree in their usage, as they'd be with a tile floor. Here, are a number of precautions that they need to observe:When they're effort their house, they ought to} check and must make sure that all the faucets in their home are properly closed. Suppose water leaks out and accumulates on the picket floor for a substantial length of your time, the ground would possibly get broken.

Another disadvantage of picket floors is, that one heel's of his/her shoes would produce lot of noise, even supposing some brands have currently introduced the product that absorb a part of the sound. Finally, picket floors are a class of whose time has return. If one is reconstruction a brand new house, or refurbishing their recent one, they'll think about putting in picket floors. The sheer fantastic thing about picket floors can enliven their home decoration for years to return.

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Sunday, 4 December 2016

NEW CONCEPTS IN BUILDING TECHNOLOGY PAVE THE WAY

In the high-tech age of the twenty-first century ,builders and building technology developers in India no longer talk about the cost of building large structures. They are more concerned about their life-cycle cost and environmental sustainability. They emphasize the aesthetic aspect as can be seen from some of the structures which dot the skyline of our metropolitan cities. The growth in knowledge oriented sectors has led to the increase in the economy so that developers are investing huge sums in the infrastructure.

The cost to the environment of materials used is of utmost importance. Pre-engineered buildings are an example in which the construction cost includes environmental cleanup cost. We are familiar with the mess created by energy production facilities. One way to overcome this is through the use of more fly ash for roads and buildings. This can be mixed in ready mixed concrete to reduce waste on site mixing. This also leads to quick settling concrete so that scaffoldings can be quickly stripped for the next operation.

According to the seismic rezoning of the country, a city such as Chennai would be in Zone 3 seismic region. This leads to congestion of reinforcement in the joints, and in order to overcome this, self-compacted concrete with special admixtures are being used. Rebarring technologies are improving so that walls are now stronger. New curing compounds are being utilized to reduce water use.

It is a commonly heard complaint about the big noise pollution at construction sites. To negate this, pre-case in piles are being used by builders for pile driving work.

Corrosion too is a great hazard. All new technologies do not make for seismic safety. The use of high-strength rebars for example may be harmful from the point of view of seismic safety.

Newer technologies are emerging in the use of high tensile steel and post-tensioning technologies are gaining importance. The post-tensioning technology is applied to get over the problem of the sagging of load bearing beams and structures on account of excess weight. VSL India is using it for large slab structures, bridges, stadia and dams. With this the steel reinforcement is lighter and the foundation load is less. This technology which popularizes the most tensioned slab saves both cost and time for the client.

Although high-tensile steel should definitely be used in modern construction of tall buildings and bridges, it is not as ductile as mild steel. Therefore it should be appropriately designed. The key is to use high strength steel which has good ductility. This is possible today with rapid advancement in the manufacture of rebars. Steel which has an adequate uniform elongation for protection against seismic and other dynamic loads is ideal.

These new concepts in building technology are incorporated into the system for economy and affordability as well as seismic safety. They are setting the trend for future construction.

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Friday, 2 December 2016

Selection of the Property

Selection of the Property

The registration has commenced pertaining to all the properties consequent to the relaxation of the ban imposed on the registration of certain properties. The ban on the registration has created an awareness in the public not to invest on the property which is improper. On the other hand, the recent demolition drive undertaken by BMP in Koramangala has created a sense of fear among the public to invest on the property in and around Bangalore. Walking on the road involves risk; nevertheless we cannot sit at home. Likewise, investing in the property also involves certain risk, but we have to take certain calculative risks which will help us to live in a dream house and also appreciation on our investment.

Unknown Area

No advocate can give clear cut assurance on the properties. There may be few transactions which cannot be traced from the documents produced for scrutiny, such as previous agreement entered into with somebody, pending court litigation between the family members or outsider, etc, which are the risky areas that cannot be traced by seeing the property documents. However, advertising public notice in the leading daily, having wide circulation in the area where the property is situated, will help to trace certain adverse claims, if any, before purchasing such property. However, such Public notice is only a precautionary measure and may not be binding on any one having interest in the property if the same is ignored or may have not seen the notice at all. If the same is noticed by anyone having any kind of interest over such property, then opportunity will be given to them to file the objection before the purchase of the property and subsequently, issues cropped pursuant to such objections could be sorted out by the Vendor. The purchaser can also back out from such transaction.

I herewith give certain guidelines as to where to invest and how to select the property in order to overcome any kind of ambiguity regarding purchase of any property.

Registration and Title

Even though all the properties can be registered by the concerned Sub-Registrar, mere registration would not convey the title. Registering officer will act only in the ministerial capacity and do not have power to asses the Genuineness and marketable title of the property. Infact, the Sub-Registrars are more concerned with the stamp duty and registration charges. No one can give better title than what they themselves have, is the basic principle of the Transfer of Property Act. A vendor having marketable title can lawfully convey the property and register in the concerned Sub-Registrar in favour of the purchaser and if the vendor has defective title, conveying the same and getting it registered will not perfect his title as there will be a lot of confusion as to whether the property is legally valid or not.

Clear Marketable title

Before purchasing the property, marketable title, Genuineness of the document, enforceability of the title has to be scrutinized along with a thorough verification as to whether the relevant provision of the laws and other rules and regulations of the revenue authorities has been duly complied. Origin of the property, flow of the title and present status has to be verified with the help of an advocate, who is having experience on such matters.

B.D.A.Sites

Bangalore Development Authority, previously known as City Improvement Trust Board, allotted sites having the perfect title, compared with another title. BDA, being a statutory body, has got its own procedure envisaged in the BDA ACT in acquiring the lands from the private parties, formation of layouts along with all infrastructure like power, water and roads. Generally, impetus is given for providing civil amenities and width of the roads as per the town planning ACT. Layouts already developed has been provided with all the facilities immediately, for which we will have to pay moderate rate. Likewise, Co-operative societies layout, private layouts approved by BDA are governed by the rules and regulations of the BDA only. However, purchasing such property is advisable after scrutiny of the title thoroughly.

BMP Sites

A property falling under the BMP Area are generally old properties. Vacant properties are very few.

Generally ready built houses or old houses are available for sale. Title of the property is required to be traced from the origin with successive deeds of transfer, computerized Khata and computerized Khata extract to be checked up.

If required, city survey map and Building sanction plan has to be verified. Sometimes, larger extent of properties would be divided into smaller portions and in such case, only certified copies of the title deeds would be available. Old 7 CMC area, 1 CMC area including 111 villages included in the BBMP area from 16/01/2007. The newly added BBPM area do not have proper infrastructure facilities such as Road, water, sewerage line etc., most of these sites and houses do not have A Khatha or Building Plan Approved by the competent authority and purchasing this type of property having high risk.

BMRDA Approved Sites

Recently, lot of layouts approved by BMRDA i.e., Anekal Planning Authority(APA), Nelamangal Planning Authority(NPA), Magadi Planning Authority (MPA), Hosakote Planning Authority(HPA), Kanakapura Planning Authority(HPA), Bangalore International Airport Area Planning Authority [BIAAPA] are coming up in the outskirts of Bangalore, with proper planning and development. This is due to the recent ban on registration of such properties without BMRDA Release Letter.

Recently, BMRDA has changed its rules and regulations, wherein only 60% of the sites would be released at the time of approving layout plan, while remaining 40% of the sites will be released after completion of the entire layout.

Accordingly, the Sub-Registrar refuses to register such sites without the release letter. So it became mandatory on the part of the developers to develop the entire layout and get the release order of the balance 40% of the sites. After the relaxation of the ban on registration, Sub-Registrar is registering BMRDA sites without release order, which, infact has affected the developmental activities of such layouts.

Few of the promoters are selling the sites without providing basic facilities with an assurance to develop the same, but fail to do the same.

The government has to take initiative and should make it mandatory to submit order of release of sites at the time of registering BMRDA approved sites, in order to safeguard the interest of such purchasers.

Gramathana Sites

These are gramathana sites, originally available in Village Panchayat areas, and which are few in number.

They can be distinguished from Kaneshumari number, assigned to them. The agricultural lands have survey numbers. In such properties, it is necessary to examine village records along with Form No.9 and 10 which confirm that the particular property is original Gramathana site or not.

But many village Panchayats issue form No.9 and 10, though they are not Gramathana sites.

Many such sites fall in green area belt areas, where construction of residential building is restricted. Extra caution is necessary while buying Gramathana Sites.

Revenue Sites

These are the sites formed in an agricultural land. Unless it is converted for non-agricultural residential purpose, it remains as agricultural land. Formation of layouts is not permitted on agricultural land. Further, layouts need the approval from BDA or BMRDA.

The revenue records such as Pahani and mutations of these lands remain in the name of the original owner even after it is purchased by others. It is not advisable to purchase the Revenue sites.

Advent of Apartments

The rapid growth of demand for Apartments in Bangalore, within a year, has totally changed, wherein, average rate of a standard apartment per sqft of Rs.3000/- has now enhanced to present rate of an average standard apartment attaching to the city area at nearly Rs.4000/- per sqft.

Now a days people prefer to live in the apartment concept because of the safety, social life and facilities available there.

Increase in the land cost, increase in the construction material and construction labour cost, government levies like service tax, sales tax, stamp duty and registration charge have also contributed for the tremendous growth of the apartments in the recent times.

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Thursday, 1 December 2016

Defect in property is different from defect in title

Defect in property is different from defect in title

In recent times, dealings in real estate in Bangalore have been at the peak. Predominant reason for this is the growth of IT sector and the eagerness of the people to invest their money in real estates in and around Bangalore. As the real estates require huge investments, the purchaser has to take necessary precautions before investing his money to save himself from future complications. If the property transferred suffers from any defect in the title of the vendor, the purchaser does not get good and marketable title. Therefore, the purchaser has to make doubly sure before finalizing the deal, that the vendor has got a valid and marketable title.

Marketable Title:

The term “Marketable title” means a title which is clear and free from reasonable doubts and is a title good against everybody. Thus, it is the title which establishes full ownership of the vendor to the property intended to be conveyed, without reasonable doubt. A buyer is not bound to complete the sale if there are defects in the title to the property which are material and latent. The defect to be material, it is to be of such a nature that if the purchaser were aware of it he would not have entered into the contract of sale at all.

Doubtful or defective title:

A title is said to be doubtful when the vendor does not have any conclusive evidence to prove the ownership. The defects in title are generally latent defects which can be found only on investigation of title by perusal of documents, by an eminent advocate, carrying out searches of Government Departments and Municipal records and by making reasonable enquiries. The vendor is bound to disclose such latent defects known to him.

A title becomes doubtful:

 Where the doubt arises by reason of some uncertainty in law itself;

 Where the doubt pertains to the application of some settled principle or rule of law.

 Where a matter of fact upon which a title depends is either not in its nature capable of satisfactory proof or is capable of such proof but yet not satisfactorily proved.

The ownership of the vendor to the property intended to be sold, must be the property traceable from the previous title deeds commencing from the Deed which can be considered as a good root of title and for this purpose at least 30 years previous title would need to be verified. The property should have already been properly transferred from all predecessors-in-title and no third person other than the Vendor should have any right or claim thereto.

Thus, for example, if ‘A’ has sold the property to B and if it is found that the property under sale belonged to a Hindu Joint Family property and ‘A’ has sold it neither for legal necessity nor after obtaining the consent from Co-Parceners, then the property sold to ‘B’ is said to be defective.

The following are a few instances where the title cannot be termed as defective:

 An omission to disclose a prior agreement for sale by the Vendor is not a defect in title.

 Title by adverse possession is marketable and not a defective title, if proper title by such possession can be successfully made out. A title may be good although there are no Deeds but there must have been such a long uninterrupted possession, enjoyment and dealing with the property as to form a reasonable presumption that the title is absolute .

 Loss of title deed is not a defect, if the loss can be explained satisfactorily.

Defect in property:

Defect in property is different from the defect in title. A defect in the property only prejudices the purchaser in the physical enjoyment of the property but the defect in title exposes the purchaser to adverse claims. This difference has been enunciated in Section 55 (1) (a) of the Transfer of Property Act, which provides that the vendor is bound to disclose to the purchaser any material defect in the property or in the vendor’s title. The defects in property are generally patent defects which can be seen on an inspection of the property and the Vendor need not disclose the same so long as the same does not lead to defect in title.

Root of title:

In investigating title and in considering whether the title is marketable and free from reasonable doubts, it is necessary to find out the root of the title. Documents are considered as root of the title. A good root of title is a document purporting to deal with the entire property conveyed, which does not depend upon the validity of any previous instrument and without inviting any suspicion on the title of the Vendor. It may also be described as a document of transfer of property showing nothing to cast any doubt on the title. An instrument, the effect of which depends on some earlier document is considered as an instrument with insufficient root of title. In India, there is no law which stipulates statutory period for examination of root or commencement of title. However, it is advisable to investigate the title for a minimum period of 30 years unless the circumstances warrant production of documents beyond 30 years.

Though our law makes it obligatory on the part of the vendors to disclose the defects in title before the sale of a property, purchasers have also to exercise due diligence and investigate the title of the property before purchasing the same, to avoid future complications.

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