FDI in Real Estate-What Does It Mean for The Common Man?

Budget 2014 might not have ushered in the instantaneous "Acche Din" expected by many, but there is no denying the fact that it certainly is a very positive and thoughtful budget that is the first step in coming closer to the much coveted dream of better days.

FDI (Foreign Direct Investment) in real estate is certainly one of the most talked about budget announcements this year and rightly so, as it is going to make things easier for the middle class in the real estate arena. In very simple terms, FDI in real estate implies that the dream of living in one's own house is not very distant for the middle and lower-middle class of the society.

Let us get an insight into how this move of Modi government of bringing FDI in real estate is beneficial for the common man:

1) The government has announced the minimum built-up area requirement to be relaxed from 50,000 square meter to 20,000 square meter to allow FDI. This simply implies that the foreign funds would flow more easily, which in turn would facilitate quality and timely completion of projects.

2) The government has also raised the bar on upper limit on FDI to $10 million from $5million, which again translates to cheaper, easier and faster funds for the sector. These benefits, sooner or later, will surely be passed on to the consumers.

3) Amplification of fund flows through the relaxing FDI norms will also help strengthen the battered rupee and will also help check inflation.

4) Very importantly, FDI in real estate will improve investor sentiment in the market, which will boost sales.

5) FDI in real estate would recuperate the investment climate and will also usher in transparency in the market.

It must be noted that FDI in the real sector hit rock bottom recently as it declined to less than $1.3 billion in the period April 2013 to February 2014. It was $3.1 billion between April 2012 and March 2013. The decline in FDI in the mentioned period is hugely attributed to the unveiling of a number of scams in the UPA regime as well as to the political uncertainty in the pre-election period.

The above mentioned steps are certainly a welcome-sign; here’s hoping that FDI in real estate would work wonders for construction industry and will also help the industry bounce back in the near future.

Role of E Khatha in Bangalore Real Estate Market

Given the pile of documents involved in real estate transactions, a first time home buyer is likely to get overwhelmed. The sheer volume of paperwork and the impediments involved in the process, often shapes it into a tiring and lengthy course. For a potential home buyer or an existing one, the word ‘Khata’ rings bell and sounds familiar.The latest development in this route is the ‘E-Khata’.

In the real estate jargon, Khata is basically the account/assessment of a property, which falls in the BBMP (Bruhat Bengaluru Mahanagara Palike)/BMRDA (Bangalore Metropolitan Region Development Authority) jurisdiction, in regard to taxation. Khata holds relevant information such as the owner’s name, area, location, size and built-up area. A khata in bangalore, which is filed online is termed as the e-khata. A khata and PID (Property Identification) number, however, is received once all the government verification on property is completed.

Electronic khata, popularly known as E-khata, is a tool for a plot owner to pay his/her tax in any nationalized bank. To apply for E-khata, the site photo, owner’s photo along with digital signature is a must. Electronic khata is applicable for new plots that fall under the BMRDA jurisdiction. Any individual owner having a valid khata, is entitled to E-khata. For unrelated sites, it will be in the name of the builder, and will be registered in an individual’s name only when 40% of the release order from the BMRDA is received. Only then an owner can transfer the khata in E-form.

Understanding the need/benefits of e-Khata

Considering the growth and expansion of the Bangalore city, the Karnataka Government has laid special emphasis in the process of computerizing land records. Among others, a person filing khata is entitled to obtain receipts when required, with the help of the PID (Property Identification) number. Furthermore, updated khata certificates along with extracts can easily be derived from the BBMP kiosks.

In a bid to prevent fraudulent activities, the Stamp and Registration department gave a nod to the computer generated khata (Form 9 and Form 11), which is mandatory to submit at the time of registration. With the help of the PID number that is generated on computerizing of the records, a property tax owner endowed with the option to access his/her khata and ante up online.

Issues related with it

With the announcement of E-khata, the registration of properties in gram panchayats, properties on the periphery of Bangalore and other urban sprawls across the State, has hit a dead block. Lack of adequate infrastructure to issue the computerized khata has emerged as the primary hurdle for a large number of panchayats, in regard to registration of properties.

As per market reports, property registrations scaled down by 50%, with the new rule coming into effect. Private developers were unable to register sites that were formed under the Bangalore Metropolitan Region Development Authority jurisdiction. Lack of proper infrastructure and user-friendly site has doubled the issues related with the E-Khata registration in the recent times.

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Peninsula Solitaire - an exclusive gated community, secure, impeccably planned executive villa project located onTindlu Village off Sarjapur, Bangalore. PIDPL has covered up different projects in Sarjapur. The Project features 166 Luxurious villas of various types which range from 1200 - 2000Sq. Ft. to match the different needs of customers.

PROJECT DETAILS:  Tindlu Village off Sarjapur, Bangalore

                            ·         Total Land Area 10.3 Acres - BMRDA approved  

Type	Plot  Area	Built Up Area	No of Bedrooms	No.of.Bathroom	Price
3 BHK	1200 Sq.Ft.	1542 Sq.Ft	3	3	Rs. 62Lacs
3 BHK	1500 Sq.Ft.	1827 Sq.Ft.	3	3	Rs. 74Lacs
3 BHK	1600 Sq.Ft.	1908 Sq.Ft.	3	3	Rs. 78Lacs
3 BHK	2000 Sq.Ft.	2201 Sq.Ft.	3	3	Rs. 92Lacs

Note: Only Registration Charges and Khatha Extra

QUICK GLANCE ABOUT THE PROJECT:

Peninsula Solitaire Spread across an expansive 10.3 Acres - BMRDA approved residential Layout. PIDPL pressures on greenery and provides an incredible 45% open area. The fully prepared club house provides you the best sports and leisurely features.

Peninsula Solitaire are wonderfully developed and practically built for the present day residing. Our houses are a statement to the point that you do not have to be a loving to drop madly in love with amazing elegance and appearance. As you walk around the residence, you cannot help but appreciate the way we incorporate our houses with the characteristics around. Properly chosen plants and creatures improve the natural scenery and perfect designs makes you look ahead to every day with a new where we live? Is home.

Locations from major land marks

SABIC R&D Campus	5 km
Dommasandra circle	7 km
Electronic city (via chandapura)	20 km
Wipro corporate office	15 km
Outer ring road junction	18 km
IT companies on ORR junction (Belandur- Marathahalli)	22 km
Central Silk board	26 km

Villa Types:

Type A: 30*40

Elevation Of 30*40 East facing Villa

Floor Plan Of 30*40 East facing Villa :

                                       

Elevation Of 30*40 West facing Villa :

Floor Plan Of 30*40 West facing Villa :

Type B -  30*50 :

Elevation Of 30*50 East facing Villa

Floor Plan Of 30*50 East facing Villa :

Elevation Of 30*50 West facing Villa  :

Floor Plan Of 30*50 West facing Villa :

Type C -  40*40 :

Elevation Of 40*40 East facing Villa :

Floor Plan Of 40*40 East facing Villa :

Elevation Of 40*40 West facing Villa :

Floor Plan Of 40*40 West facing Villa :

Type D -  50*40 :

Elevation Of 50*40 East facing Villa :

Floor Plan Of 50*40 East facing Villa :

Elevation Of 50*40 East facing Villa :

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Layout Map : 

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World Class Amenities:

·         Swimming Pool

·         Club House

·         Gymnasium

·         Party Hall

·         Badminton Court

·         Tennis Court

·         Table Tennis

·         Basket Ball Court

·         Library

·         Children Play Area

·         Rain Water Harvesting

·         Sewerage Treatment Plant

 WHY SARJAPUR? 

Sarjapura is located in a centralized location to ITPL, Electronic City and Marathalli Outer Ring Road where many of the IT Companies are situated. 

STRR which is passing through Sarjapura and connecting to Devanahalli International Airport with proximity of 45 Kms.  

Peninsula Solitaire is very closed by to the proposed Infosys campus of 400 acres of land, IT firm SEZ Zone and Wipro campus of 160 acres of land. It is fast becoming a major residential and commercial centre of Bengaluru. Over 4900 acres of BDA layouts announced & 900 acres of commercials.

3 BHK Duplex Villa in Sarjapur

Peninsula Passiflora Phase 2 is located at Sarjapur a mere 24 km from Silk board Circle, Bengaluru. The Proposed 350 acre of Infosys campus, 100 acre of Wipro campus and Sabic Research Center a mere 1km form project. Peninsula Passiflora Phase 2 is an exclusive gated community, executive villa project in Sarjapur, Benagaluru. The project features 27 Luxurious villas of different types ranging from 1200-2400 Sq. Ft. to suit the varying needs of customers.

How to Get BMRDA Approval For Layout - Peninsula Infra Developments

CONDITIONS FOR BMRDA APPROVAL OF LAYOUT:

1. The approval of layout is valid for 2 years duration. If the layout

development is not complete in 2 years time, the approval needs to be

renewed before the validity is expired.

2. Under site release regulation, on completion of civil works like

asphalting of road, under ground drainage, storm water drainage, drinking

water, electrification, Authority will inspect the layout and if found

satisfactory the sites vested with Authority(40%) will be released for

registration.

3. The park, road, civic amenities sites, under ground drainage, water and

electricity needs to be developed on priority basis within 18 months or

else the layout approval may be revoked without prior notice.

4. Sewage treatment plant will have to be established at appropriate

location conforming to Karnataka State Pollution Control Board guidelines.

5. A license issued under Karnataka Gram Panchayat Act / Karnataka

Municipality Act is essential before execution of development work.

6. Changes in the approved layout are not permissible without prior

approval from Authority.

7. Any existing tree or vegetation to be conserved to the extent possible

and new plants to be grown in the either sides of streets and park.

8. Building in the approved layout shall compulsorily adapt Rain Water

Harvesting and steps should be taken for augmentation of ground water at

layout level.

9. The roads, parks are to be developed and maintained, while civic amenity

sites are to be protected against encroachment till such time Authority may

deem necessary.

10. Approach to adjoining land or pieces of land within layout but not part

of it should be guaranteed.

11. The layout approval is technical in nature; it shall not be used to

prove ownership and any other right on the land.

12. The Authority is not responsible for any civil dispute relating to the

land.

13. If any information or records provided to Authority for approval turns

out to be fake, the approval is immediately revoked.

14. Advertisement for marketing of the plots in the layout should

compulsorily mention approval no. and date.

15. Footpath has to be built on both sides of road to facilitate pedestrian

movement.

16. If any of the above conditions are violated, the approval is revoked

with immediate effect without prior notice.

Top 10 Residential Villa and Apartment Projects in Sarjapur

M/s. Peninsula Infra Developments Pvt. Ltd., was established in 2008 with an aim of providing quality living spaces. Since then, we have evolved as a reputed company with business vertically spreading in to property development and construction contracting. In response to the growing need for quality housing and commercial space in the Cosmopolitian city of Bangalore. 

The Directors, with the vision of building a dream house to the economical class as also creating employment to the needy, have successfully created a niche in the field with currently 6 projects in hand and many more coming up.

Peninsula Projects Listed top in Wikipedia

What Is the Difference between a Villa and a House?

                   Villa refers to a country house in ancient Rome consisting of residential quarters and farm buildings around a courtyard. A house on the other hand refers to a dwelling that serves as living quarters for one or more families. Villa is also a term which was used to describe a Mexican revolutionary leader between 1877 and 1923.