Bidadi’s Smart City Project in Bangalore is Set to Soon Turn Into Reality

The much anticipated Bidadi Smart city project, Bangalore’s very own Gurugram will soon come into existence. The greater Bengaluru Bidadi smart city planning authority is executing a master plan for a 9,178.29 acre technology park, under the concept of work-life-play. The planning force operating under the BMRDA have expressed their intent to establish their master plan for the venture coming up is slated to arise in and around 38 villages in Bidadi and Ramnagara district, about 35 km from Bangalore.

Recommendations and grievances can be filed before January 17th, 2017 either by post or in person   to the BMRDA office said an official from BMRDA.

The official explained that the smart city, coming up off Bangalore-Mysore highway, will help lessen pressure on the existing prominent IT hubs located in Electronic City and Whitefield. Bidadi Township is comfortably positioned off Satellite town ring road hence commuting won’t be a major issue. Official also went on to say that this township will create more job opportunities to people from Mysore as well.

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Thought the project was envisaged a decade ago with the state cabinet clearing it in 2006, acquiring land has been the major stumbling block. In fact, major property development firm DLF had bagged the development rights in 2009. But it was only in 2015 that BMRDA decided to resurrect the venture. The Chief Minister, in this year’s budget, had declared assembling a separate planning authority for this project.  With the initial estimated cost around 15,000 to 20,000 crore with an office space of 2 million square feet, the master plan will declare the exact cost of this project.

Ingenious compensation models are being identified as the share of private land (6,336 acres) is huge compared to that of government land (2,198 acres). KG Gollarapalya, Aralalasandra, Byramangala, Bannigiri, Kanchugaranahalli, Kanchugaranahalli Kaval, Kempaiyyanapalya, Mandlahalli are some of the villages where the project is expected to come up.

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Dreamz GK: Mega Home Fair This Navratri

Get into the festive spirit this Navratri, by purchasing your dream home from Dreamz GK with a once in a lifetime offer. Flats and apartments offered at a flat 50% off to surely make you as a buyer not think twice.

Like their tagline, Dreamz Gk truly stands for ‘innovation’. Since their existence, they have gone on to be a recipient of a staggering 16 National and International awards and has a prominent name in the real estate industry. Dreamz Infra has launched their latest festive offer which is sure to create frenzy. DreamzGK is known for building dream homes to their clients.

Their latest offer is set to make citizens of Bangalore happy as the flats and apartments they have on offer this Navratri covers all the prominent locations in Bangalore. They are offering 1, 2 and 3 BHK flats in noticeable locations like Electronic City, JP Nagar, Sarjapur Road, Koramangala, HSR Layout, Kundalahalli, Silk Board, Horamavu, Whitefield and Hennur Main Road. With prices starting for a 1 BHK from 9.35 lakhs, 2BHK as low as 10.90 lakhs and 3BHK as low as 22.80 lakhs, it is sure to make any prospective buyer looking for a flat this festive season does not think twice.

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Navrathri Offer on Flats

When you invest in a DreamzGK Infra venture you know you are getting quality with these flats and apartments equipped with world-class facilities and amenities, and also from the support from their exceptional support staff to guide you along the way in securing your dream house. Buying a house is a big investment and a lot of thinking goes into it to make an informed decision and with Dreamz GK you know you’re in good hands with the impressive track record this real-estate company has had in satisfying their clients.

To make this deal, even more, sweeter Dreamz Infra has decided to give a lucky customer a chance to win a free flat or apartment which worth 25 lakh. If you are still not convinced by this offer you can call the company and request for a site visit to any of their locations where their developments are and ask for a site visit to change your mind, and be impressed with the transparency and the quality Dreamz GK provides to its customers.

So what are you waiting for? An offer like this doesn’t come often as the famous saying goes “it’s better later than never”.

Dreamz Infra Ganesha Chaturthi Dhamaka

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India is a land of many god and goddesses many shapes and sizes. Many Indians are devotees of them and some are totally dedicated to their god. Therefore, for many people the Hindu festival of Ganesh Chaturthi is a sacred time to celebrate lord Ganesha, the god of new beginnings. This auspicious day comes once a year with the blessings of the elephant god for the success for every new activity people undertake. Dreamz Infra brings to you with this special occasion the Ganesha Chaturthi Dhamaka. Location of the offered projects is best. The offer covers multiple projects, one is in JP Nagar and other two in Whitefield . Dreamz Samhita is located in the posh high demand areas in JP Nagar. Dreams Samhita is constructed with the area of plot size 23958 sft. Flats in this project are of 950 sft.-to 1463 sft. Total No. of available flats are 126 on G+5 floor construction. Ganesha Chaturthi Dhamaka will give 3 lucky buyers opportunity to win 3 free flat worth 20 Lacs each in Dreamz Samhita. That’s not all you can book your house and get a chance to win free TV/ Refrigerator/ Washing Machine and many others. Ganesha Chaturthi Dhamaka gives you the ultimate opportunity to buy discounted rated flats in Dreamz Swadhya & Swadesh which are luxurious projects in Whitefield areas and you can avail them at most economic rates in this offer. So if you have plans to buy homes this year, Dreamz Infra Ganesha Chaturthi Dhamaka is the offer which will end the search for your new beginning.

Dreamz Offering free farm land with every purchase of flat

Dreamz Infra has established itself as the mother of affordable housing in Bangalore. The company has been relentlessly making endeavours to sell flats and apartments at the prices within the reach of everyone. This time the company has few apartments in the almost completed projects. They are at the best of locations and have all the luxury amenities that one can expect. Dreamz Sneh at Marathahalli, Dreamz Samhita at J P Nagar, Dreamz Sangam at Silk Board, Dreamz Sampoorna at Electronic City, Dreamz Sumadhur at Vidyaranyapura, Dreamz Sai Sagar at J P Nagar and few more projects have almost completed the construction. Apart from these there are other under construction projects also.

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But there is a surprise that Dreamz Infra has brought to you this time. That is,the company is offering free farm plots worth Rs. 4 lakhs free of cost along with the bookings of these flats in Bangalore. This is the charm of this short timed mega offer, claims the company. The company sources say that there are free site visits along with home loan assistance from the company’s side. There is other assistance also if the customer needs and so there is a great rush after the news of the offer is circulated. The company is following the principle, first come first served and there are too much of rush. So people who wants to avail such an opportunity have to be quick. One more last word but not the least is that there is no reason to think that the flats are priced high and the prices of the farm lands are included in it. Practically speaking the company is in to mass sale and hence can afford it. The flats for sale are even 40 percent lesser than the market rates and bears the hallmark of Dreamz Infra pricing. But over and above that you would get a farm land free. So if this is not an opportunity for the customers, then what is it, asks the company sources. So, dear home shoppers, be quick in your investigate and quickly grab the opportunity if you feel it is worth it.

Budget 2016 – Great For Affordable Housing Sector

The budget has been published with much furore and the real estate sector had many wishes and the finance minister also tried to help the sector which is evident in the budget proposals say the experts. Overall the budget seems to have been growth oriented and progressive. The reasons are many along with the striking factor that the budget points out is that the spending is proposed to be hiked by a startling 23 percent. This certainly indicates that it is proposed to usher in many activities and investments in the sector. Along with the way the government was going in boosting the housing sector especially the affordable housing sector and the measures like the REIT and the mobilization of funds this budget seems to have been an extension in these efforts. The experts and the trend watchers opine that this budget has been geared for the common good and the good of the greater sections of the public in general. Here we try to uphold the salient parts of the budget that goes to make the nation’s real estate more robust.

The proposal like the deduction of tax on profits from a housing project for apartments constructed up to 30 sq. meters in the four A-1 cities and a deduction of up to 60 sq. metres in other cities of India are welcome by the sector. This will be applicable for the projects approved between June 2016 and March 2019 but if they are completed within a period of three years. This measure will certainly boost the supply in the affordable sector though the developers will be subject to alternate taxes at the minimum.

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The other advantage that the experts speak of is the distribution made out of the proceeds and the income generated of the Special Purpose Vehicles and the subsidiary companies of the Real Estate Investment Trusts (REITs) and also the Infrastructure Investment Trusts (INvITs) which has a specific shareholding would not be subjected to the Dividend Distribution Tax for the distribution of the dividends after a specified date. The experts opine that this is certainly a very progressive step to boost the growth of the REITs which would also help in pumping fresh capital to the sector.

Another benefit given to the mid sector buyer is the proposal of deduction of an additional interest of Rs. 50, 000 annually for loans of up to Rs. 35 lakhs for the first time home buyers. The loans must have been sanctioned in 2016-2017 where the cost of the house purchased does not exceed Rs. 50 lakhs.

This measure the experts opine will directly boost the home buyer’s sentiments. Another good news for the real estate sector is the exemption of service tax on the construction of affordable housing and apartments within a limit of 60 sq. metres under any of the schemes of the state or the central government including the schemes of Private Public Partnership (PPP) model which is also welcome by the experts and said the measure is in the right direction.
Another aspect of the measures taken on the rental segment is also one that is beneficial for the general public. The tax exemption for the rent paid has been increased from Rs. 24, 000 to Rs. 60, 000 which will help a lot for the rental segment. The trend watchers remark that this proposal will take into account the increments of rising rental prices in the cities due to high demand of quality housing.

There has been few good news for the ancillary industries related to real estate like the materials used for construction. In this regard the exemption of excise duty made available to the concrete mix industry being manufactured at the sites of constructions is a move that is also welcome by the government. Another proposal that was applauded by many which we mention lastly but definitely not the last is the digitization of the land records which is a much awaited step in the way of lessening the land disputes. The experts feel that these proposals go well with the direction that real estate has been geared to take and this will certainly render the sector to yield more and contribute more in the GDP of the country.

34 Percent Of Constructed Space Delayed By A Year.

Statistics says that about 34 percent of the constructed space across 25 cities across the nation which amounts to 3.2 billion sq. ft. of constructed space is delayed by a period of over a year. The value of the delayed construction is estimated at about Rs. 1, 65, 064 crore which is about 1.32 percent of the gross domestic product (GDP) of India.

An independent research organization Liases Foras has been measuring the average cost of the construction which is about Rs. 1, 500 per square feet.  The report says that the project delays are the biggest hurdle in the real estate industry of India. This is also the cardinal reason for the higher prices of properties and the rise of prices too in many parts of India.

According to the estimate,after the clearance of the New Real Estate Regulatory bill by the parliament there could be some improvement in the execution of the projects. Due to the likely improvement of transparency, accountability and surveillance there could be marked improvement of delay in the completion of the projects which is an off shoot of improved efficiency. Many realtors and the veterans feel that the bill fails to bring under its purview many of the concerned government authorities, which are responsible for the clearances and approvals of projects. This is the reason the problems of the sector cannot be said to be solved totally. In this regard the developers and the veterans remark that faster approvals are also something that concerns the common consumers. The single window system of clearance of the real estate projects as aimed by the regulatory authorities wherein both the promoters and the projects can be monitored with the digitization of the land records may help in fastening the process of completion. But the experts feel that the bill has to evolve at much more length in order to make the mechanism of shortening the sanctioning process.

In this regard many realtors and experts feel that the government should first of all introduce a single window clearance system and then attempt to bring the real estate regulatory bill. They feel that the regulator is failing to address the needs of the real estate sector in carrying the business in an efficient manner. Furthermore it fails to improve the approval process either.

Realtors Suggest The Ways to Boost the Construction of Affordable Sector

Interestingly enough there is a paradox in building the affordable housing in India. It apparently seems that there is an acute shortage of the low cost and the affordable housing but there is an oversupply of high-end housing. The reason why the developers are not shifting their focus from the high-end housing to the affordable housing is mainly for the policy irregularities. It is estimated that in the next decade a number of people as large as 3 billion will shift to the urban areas and the cities in the next decade or so. If this happens there will be a huge shortage of housing in the time to come. Already the shortage of housing in India is estimated at a figure of 19 million units. Of these, a huge 95 percent is in the affordable and low-income housing groups.

There are few of bottlenecks in the building of affordable housing and low cost housing in the nation. The first hurdle is of course the low margins in the affordable housing construction along with the hurdle of multiple approvals and clearances which are the same from different authorities. Land issue is another concern which is the dearth of cheap land and the land plots that are available in remote locations but they are not so rich in infrastructure to cater to the demand.

The next major issue isthe financing of the affordable sector housing and the banks and financial institutions has a ceiling on real estate funding. The banking industry favours the high end projects from reputed builders with high margins which for obvious reasons gets more preference over the affordable housing projects.

The next problem is the tax rates that the real estate sector attracts at different points of the transactions of the real estate projects which amount to 25 percent of the property rate. This becomes too cumbersome for the developer.

Measures to boost affordable sector

The industry veterans and the trend watchers suggest few of the measures and recommendations which can help and create a solution for the higher supply of the affordable housing sector.

For easy availability of funding and direct tax benefits granting the infrastructure status to the affordable sector would be a feasible solution.

A reduced stamp duty clearance with a single taxation may be like that of GST can be a crucial step, suggests many. The 80 IB provision of Indian Income Tax Act which has provisions of liberal income taxes for real estate construction in the affordable sector is recommended to be reinstated.

A single window clearance is also a remedy which will be a short route to rounding off about 35 to 40 major approvals from varied departments, local authorities and agencies that a group housing project needs to obtain. The entire exercise as per the realtors takes about more than two years and eventually results in escalation of costs and delays in completion.

The cost of capital should also be lowered in case of affordable housing which many feel should be ideally excluded from the different RBI ceilings. It is even better if the RBI instructs the banks to include such funding in the Priority Sector Lending (PSL) as classified by all the banks.

The availability of land for the affordable sector is also a step that the state governments should implement and in that implementation of a zoning process can be a key in boosting the construction of affordable housing.The government should also designate areas where housing friendly rules for zoning would apply with higher norms of FSI and FAR with relaxed norms of density.

The government-led schemes for affordable housing like the AMRUT, Atal Mission for Rejuvenation and Urban Transformation, Pradhan MantriAwas Yojana (PMAY) and other such central and state government schemes should be helped to propagate with more resource mobilization with such policy measures and administrative structures.

According to the Reserve Bank of India statistics an investment of Rs. 70 trillion is needed for the construction of infrastructure development, affordable housing, construction of urban roads and modern transportation over the next couple of decades. A section of the trend watchers feel that when the New Real Estate Regulatory Bill is passed in the parliament the real estate regulator so constituted under the provisions of the bill will look into these issues and may inculcate few of the low-income customer friendly initiatives.