Registration of Revenue Sites Increasing Rapidly

The strategic decision taken by the Karnataka Government to register the revenue sites has received good response from the real estate consumers.This decision seems to be welcomed by the real estate observers and they want this registration process to extend till April 2014.It is also observed that about 5,831 site registrations have taken place till now in many suburbs of Bangalore City and in the month of December 2013 alone the number has increased by 25 per cent.        

One of the officials of the Registration and Commissioner of Stamps says that the site registrations will shoot up and is likely to continue in the first quarter of the ongoing year.

One of the revenue department officials in Chikkajala an outskirt of Bangalore City says that the registration of sites is more where a huge land parcels that fall under revenue site category are available and it is particularly in the outskirts and its surrounding of Bangalore City.  

The increase in the number of site registration is considered due to the two significant decisions taken by the government.

Registration of B Khata sites without title deed and deviance

Permitting gram Panchayats to issue Form 9 (Tax Assessment Register Extract) and Form 11 (Tax Demand Register Extract) the important documents required for site registrations.

The government has removed the 6-month ban on Form 9 and Form 11, which was imposed earlier and to register ones site under gram Panchayat these forms must be produced.

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Video of Sovereign Sonaa Construction Status - SDIL

Sovereign Sonaa Luxurious Apartment is under construction project. It is located at Off Tumkur Road and Opposite to Parle-G Factory. Sovereign Developers and Infrastructure Limited is the builder of this project. It is targeted to finish the construction work before promised period.

There are availability of 2BHK, 3BHK and 4BHKs. Below are the project details:

Project Name: Sovereign Sonaa 

Location:  Off Tumkur Road, Bangalore

Price List: 2BHK 925 Square Feet - 53 Lakhs Onwards

                  3BHK 1200 Square Feet - 68 Lakhs Onwards

                  4BHK 2175 Square Feet  - 1.25 Crore Onwards

For more details go through the official website of the company

Tips To Minimize Your Home Buying Stress

Everyone who has bought a home or who is willing to buy a home know the tension involved in the buying process of a home as it is a matter of fact that it involves one’s lifetime savings as well as investment.

Home buying usually is a stressful process as it is one’s decisive decision in their life that takes their whole savings and involves emotional experience. When your emotions are involved in the buying process of a home, chances are there that those emotions can go out of hand when you face some unexpected situations like:

• Sellers/builders can be aggressive and unreasonable
• Defects may be revealed during home inspection
• Loan may be rejected
• Builder is not communicating with you properly
• Issue in property title
• Your employer could go bankrupt

Buying a home is a task that should be given to your head and not to heart, as being too sentimental may make things go wrong endlessly, hence as a buyer you have to plan the buying process carefully and should not give place to incongruity and frustration. Here are the two major significant factors that one should keep in mind while planning for buying a home and to reduce the stress involved in it and they are:

• A through research about market strategy and to ask all the question and leave no doubts on your mind
• To analyze and evaluate the financial requirement and be prepared to face financial challenges.

The process of deciding and eventually buying a home should be purely based on a watchful plan (consisting Plan-A & Plan-B) and patience.

Conducting a thorough market research will result in substantial savings, both in matters of finance and emotions. So, find a reliable real estate agent or a builder and tell them your requirements and budget and here are some list that buyers should check in the builders or agents offerings:

• Price of the property
• Down payment
• Loan amount and terms of your loan
• A closing date of your loan
• Points to check in your contract like inspections, loan, and appraisal
• Allotment of closing costs
• Time period for delivery and occupancy

The most important aspect that a home buyer should consider is the expenses involved in buying as financial would give a major hit to the buyers’ emotion and to be aware of all the cost included in it like down payment, stamp duty, registration charges, legal costs, EMIs and makes sure about hidden charges.

Be prepared to face all the expenses gives a clearer idea to home buyers about  what they are doing, what they can actually afford, and in which situations and criteria they may restrict in spending money. All things considered in a proper planning will give the home buyer confidence to control the situation and thereby minimizing their stress involved in the home buying process.

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Bangalore Real Estate Developer -Sovereign Developers and Infrastructure Limited

Sovereign Developers and Infrastructure Limited is a premiere real estate company based in Bangalore. It has won the Emerging Developer of the Year award for their professionalism in the realty business. They have many satisfied customers across the city. The builder is well known for their affordability pricing structure of the flats. Sovereign Unnathi of their luxury apartment projects has won the "Affordable Housing project of the year-2013". The company also launched many other projects called Sovereign Sonaa and Sovereign Lakeview. All the projects of the builder are under construction. For more details go through the official website of the company.

Sovereign Developers Unnathi Construction Status from Sovereign Developers and Infrastructure Limited

Image Gallery of Sovereign Lakeview - SDIL

Sovereign Lakeview is one of the luxurious residential project in Bangalore. It is launched by one of the premiere builders called Sovereign Developers and Infrastructure Limited. The amenities of the apartment is of high standard life style which includes swimming pool, children play area, club house, tennis court, jogging track and more. It is located at central part of the Bangalore city and all the facilities (hospitals, banks, educational institutions, transportation etc. ) are available within few distances. The construction work of the project also already started and going smoothly. For more details regarding company and apartment visit official websites. 

 

Puny Sales Prediction for 2014 leaves Debt-ridden Realty Market in Anxiety

With the foresee of weak sales for 2014, debt ridden real estate developers would find it difficult to lessen the debt considerably and the weak cash flows may in fact load up their debt on their account.

One of the analysts says that the increase in bookings and effective cash flows in 2014 the debt level could be controllable for many real estate companies, which concentrated in decreasing their debt by liquidating their assets and other stratagems.

A fall in economic growth to 4.5 per cent in the previous fiscal year is considered as the sluggish in a decade due to which high rates have hurt the consumer sentiments and sales of residential and other segments of real estate.  For the second time in the pipeline, the economic growth is predicted to stay below 5 per cent.

The cumulative net debt of 11 registered real estate companies increased slightly by Rs.1,000 crore to Rs.42,000 crore in the quarter ended December on quarter-on-quarter basis and furthermore debt reduction is not anticipated in the near period. Because, the drive in sales is likely to be fragile in the first half of 2014-15 and most of the companies are in the stage of execution of projects that were launched in 2012-13.

One of the Gurgaon based top real estate developers in the country says that without effective cash flows selling of assets to lessen high debt is fine negative,which means debt is rising.The management also specified that the qualitative part of debt is fast improving, and once their under-construction shopping mall becomes effective, healthy rentals will start flow in.

While in Mumbai, the scenario is no different, many real estate developers say that there main focus is to reduce debt and look forward to complete their ongoing projects for robust rental returns.

One of the industry experts says that the revenue bookings for most real estate companies in the December quarter exhibited no progress except in Bangalore. He also added that sales prediction for both NCR and Mumbai metropolitan region (MMR) is low and hence no further reduction in debt will happen

On Contrary, the Bangalore developers continue to witness a robust effective performance with strong sales bookings and healthy projects in row across South India.

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An Over Look on Sovereign Sonaa Gallery

Sovereign Sonaa is a upcoming luxury apartment located off Tumkur Road and opposite to Parle-G Factory. It is vested over on 9.0 acres of land and every flat designed according to 100% Vastu as well as modern design elements. The construction work of the project is already started and aimed to complete within the promised period. It has plan to build the apartment with 850 luxurious flats. For more details regarding the project details please go through the official websites of the company.