DreamzGK releasing management quota flats

The demand for the affordable apartments is huge in Bengaluru. DreamzGK Infra is the pioneer in selling apartments at half the price than the market prices or even lesser and Dreamz GK had about 40 projects and all were sold in almost no time.  We congratulate our customers for such an over whelming response and what and where we stand today is for you, our valued customers. We publicly declared that all our apartments were sold out which is true as we had few apartments reserved for the employees with the management of Dreamz.

After the news spread that all the apartments were sold out, mails started coming and customers also gate crashed to our offices and requested us for more. So on customers’ demand we decided to dispose of the apartments for the employees to you which will be under the discretion of the management of Dreamz to sell these apartments.  We request all of you, desirous of buying apartments at Dreamz prices which is lesser than 50 percent of the market price to contact the management team of Dreamz or call the number in the advertisement.

DreamzGK releasing management quota flatsWhat we have on offer:

We have few 1, 2 and 3 BHK apartments in Dreamz Sarvottam located in J.P. Nagar.

We have few 2 and 3 BHK apartments in Dreamz Sadan located at Kundalahalli.

We have few 2 and 3 BHK apartments in Dreamz Samrudhi located at Koramangala.

Dreamz Susthapit has few apartments in Electronic City which are 2 and 3 BHK.

In Whitefield we have 1, 2 and 3 BHK apartments in Dreamz Swadhyay and Swadesh.

In Dreamz Sai Sagar near Puttenahalli Lake, J.P. Nagar we have few 2 and 3 BHK apartments left to be sold.

We request all the prospective customers desirous of buying apartments from Dreamz GK to come and meet our management team or call the number in the advertisement as the prices of these above apartments are priced at lesser than 50 % of the market price. Hurry, as there is no time left.  It’s either now or never.

Betterment Fee to be charged by BBMP for lands in illegitimate plans

Property owners who acquire sites or land that has not obtained necessary land use conversion clearance from the civic agencies and those lands for which several government agencies have issued DE-notification will be charged with betterment fee by the BBMP. This betterment fee will be divided into different slots by the Bruhut Bangalore Mahanagara Palike (BBMP) based on the size of the land.

The BBMP council also said that the land owners who pay betterment fee, there land will be categorized as A Khata. Presently, owners with B Khata properties are not qualified for bank loans, as B Khata properties don’t have authorizations from civic agencies like BMRDA and BDA.

Dreamz-GK-BBMP-NewsThe civic body, which is in need of money very much, has planned for an addition in flow of income up to Rs.200 crore, through this betterment fees.

Under the betterment fees, BBMP has developed two different slots; one slot for properties that measure up to 1,000 sq. mt. will have a betterment fee of Rs.350 per sq. mt. and the other slot being for lands measuring more than 1,000 sq. mt. would be charged with a betterment fee of Rs.300 per sq. mt. In regard to this, most of the lands to profit are sited in the peripheries of the city and have been incorporated in areas that come under the authority of BBMP.

The betterment fee fixed by the BBMP also gives malleable option of four installments to the property owners and for those property owners who want to pay the betterment fee in more than four installments should pay an interest of 1.5 per cent per month.

But, this decision of BBMP should be sanctioned by the Karnataka High Court, which has suppressed the previous two notifications of the BBMP regarding the same matter.

In regard to the betterment fee, the BBMP official said that the betterment fees are fixed depending on the amount spent in the development of the infrastructure and to be spent for the same in the major and newly added areas of Bangalore City. The officials also added that the plots that required the land use conversion clearance or denotified by the government agencies like KIADB, KHB, BDA, and other government agencies should be separated from the lands.

About Rs.200 crore revenue will be generated through the better fee that will make the building houses and selling lands easy for people, says one of the BBMP officials. The official also stated that the betterment fee scheme will benefit most of the sites situated in the peripheries of the city.

Another official also stated that the betterment fee is not applicable for revenue sites and is pertinent to only those sites in which land use conversion clearances are necessary. Previously, the BBMP had fixed an even betterment fee of Rs.550 that was disregarded in the High Court and now the reviewed betterment fee will be presented in the court within a week and will follow its instruction.

Please follow “Dreamz GK” blog for regular real estate updates. Click ‘Dreamz GK Reviews‘ to see our customer testimonials.

Government open ways for Multi – brand Retails Bangalore

Big establishments welcomed the Karnataka government’s node to allow foreign Multi-brand retail to start operations in the state, but small businesses intricate by the move expressed cited there objection over the decision, indicated they may protest the move. Further, there isn’t any rush for the foreign retail apparently in the state. Moreover none of the Multi brand retails have applied to The Central government for starting operations in India, without much clarity over the stringent policies to be followed set by the government has hampered the interest of the big Brands into entering the Indian market. The Bangalore Chamber of Industry and Commerce (BCIC), which comprises of big corporates, have shown a positive vibe over the state government’s decision, quoting it to be “a path breaking move”. This move by the Karnataka state government could possibly improve the retail trend while creating a lot of employment opportunities. Which could strongly be a driving force for the state’s economic growth and improve end consumers interest said M Lakshmi Narayan, president of BCIC and MD of global audio major Harman International India. H V Harish, senior VP at BCIC, also cited that government’s decision would give a boost to the agriculture and horticultural sector and also bring a boom into the real estate sector . The Federation of Karnataka Chambers of Commerce & Industry (FKCCI), been a local industry body that represents small and medium business. All this while they have been opposing, the transition of big brands into India through the multi-brand retail model. The organization said it did not want to make a comment based on media reports about the Karnataka government’s change in position on the matter. “We would be meeting the chief minister. After we speak with him and understand the government’s position, we will share our views,” said K Shiva Shanmugam, president of FKCCI. Not all have welcomed the decision with big heart, The Karnataka government’s decision have also faced a lot of opposition by many organizations, One such organization that have been most vociferously opposed to foreign retailers has been the Bangalore Wholesale, Food Grain, and Pulses Merchants Association. The members of the organization mostly operate out of the APMC yards. The opposition by the organization is not the first one, previously when German wholesaler Metro Cash & Carry entered Bangalore, the association had virulently opposed it, this made Karnataka government to strictly impose guidelines on the way Metro operated

View ‘Dreamz GK Reviews‘ by existing happy customers.

Source: The Times of India, Bangalore

First TDS then Registration, Bangalore Properties

Buying property worth over Rs 50 lakh? Then pay TDS before registering it, or income tax sleuths will come knocking on your door.

The TDS (Tax Deducted at Source) kicks in from June 1 with the implementation of Section 194-IA, announced in the finance budget of 2013-14. As per this section, the buyer should provide TDS documents on transfer or sale of immovable property (mainly land or house) other than agricultural land, before registering the property. The sub-registrars act as check-posts, if such transactions take place and TDS documents are not provided. This is applicable only if the transaction is Rs 50 lakh or above.

This was made clear at a workshop organized by the IT department and the stamps and registration department, to educate sub-registrars on TDS provision on the sale of immovable property, on 11th June.

Of the total transaction, 1% is TDS and 1% is levied as stamp duty, but in case the seller doesn’t provide PAN documents or gives an invalid PAN, the buyer should deduct 20% tax instead of 1%.

S Ravi, director-general of income tax (investment), said: “Sub-registrars ensure that PAN numbers and the permanent address of the seller should be available because many a time, in case of tax evasion and property sale, the original land owner is untraceable by the department. This should be done if the land is sold via a joint development agreement. PAN should be mentioned in all transactions, applicable under this section. Sub-registrars have been sending us a lot of information of TDS collection and cases of evasion too, but now there’s a format which should be adhered to. This format makes it easy for IT sleuths to track cases.”

Inspector-general of registration and commissioner of stamps AS Saleem said: “Out of the Rs 5,260 crore revenue the stamps and registration department collected last fiscal, 60-70% was collected from Bangalore Urban alone. Another Rs 500 crore comes from optional registerable documents like shares and loan bonds. We’re also trying to levy stamp duty on imported goods.”

What the law says

Section 194-IA of Income Tax Act — payment on transfer of certain immovable property other than agricultural land states: Any person, being a transferee, responsible for paying to a resident (transferor), any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to 1%of such sum as income-tax.

Note these

Who should pay TDS: buyer of the property

When it should be paid: before registering the property

Sub-registrars must note the permanent address and PAN of seller

In numbers

In 2010-11, 12,000 properties were registered across the state

In 2011-12, it was 3 lakh registrations

Source: The Times of India, Bangalore

Dreamz GK Infra Reviews

Dreamz GK Infra is coming up with new innovative concepts in Bangalore as well as outer city’s. We are really thankful to all our patrons who had blindly believed in Dreamz GK and our team work which brought a great satisfaction among themselves.

Initially 45 valuable costumers believed our new concept and booked the flats and then it has been multiplied to 450 and now it has crossed more than 4500.

The unrealistic market price where 24 lakhs worth of flat was sold for 45 lakhs and the buyers were getting squeezed & cheated.

Dreamz GK has risen a flat of revolution against this trend and today we proudly say that we not only raised the price of revolution but we permanently hoisted the flag of new revolution called PRICE CORRECTION

Our valuable costumers have saved more than 10-20 lakhs in process of buying our flats. The concept shows the savings of lot many costumers in this garden city Bangalore.

Dreamz GK Infra Upcoming projects :

  • Dreamz Sampoorthi – Electronic City Phase-2
  • Dreamz Swagat – Sarjapur Road
  • Dreamz Satsangh – HSR
  • Dreamz Susthapit – Electronic City
  • Dreamz Suvarna – Koramangala
  • Dreamz Samhita – J P Nagar
  • Dreamz Sadan – Kundalahalli
  • Dreamz Sanskar – Marathalli
  • Dreamz Sahitya – Jalahalli
  • Dreamz Sumadhur – Vidyaranyapura
  • Dreamz Suprabhata – Vidyaranyapura
  • Dreamz Sahavas – Begur Road
  • Dreamz Samata – Horamavu
  • Dreamz Swadesh – Whitefield
  • Dreamz Saakar – Horamavu

View more customers reviews please click here, ‘Dreamz GK Review