Bangalore ranked India's top business destination

Bangalore, known as India's silicon city, has been ranked as the country's top business destination, followed by Chennai, Mumbai and Pune in terms of infrastructure, human capital, city culture and basic quality of living, says a survey.

While Delhi does not figure on this list, Noida and Gurgaon from the National Capital Region have been ranked 17th and 19th respectively.

The survey, conducted by Global Initiative for Restructuring Environment and Management (GIREM) and real estate consultancy firm DTZ, also found that smaller cities like Indore (5th), Bhubaneswar (6th) and Coimbatore (7th) are competing with top metros in the race to be ideal business destinations.

The list includes a total of 21 top business destination in the country. Ahmedabad has been ranked 8th, followed by Nagpur at 9th and Kochi at the 10th place.

Commenting on the findings of the report, GIREM Chairman Sankey Prasad said that few of the top 21 business destinations in India are already established while others have the potential to emerge as major business destinations.

"The ranking provides companies across industries and sectors with insights for future investment opportunities," Prasad added.

The ranking rated the cities based on factors such as human capital, energy, water, transport, housing, healthcare, climate, office space availability and city culture, which constitute the basic eco-socio-economic parameters critical in determining the growth of the city.

"With the metros already bursting at their seams, it is important to have options that are fresh for investments and conducive for business operations," DTZ Chief Executive Anshul Jain said.

Jain further noted that "in order to relieve the burden on the established metro cities, it becomes all the more important to encourage the Tier II cities to grow up to their potential so as to meet a twin objective of de-congesting metros and nurturing talent in Tier II cities."

The others in the list include Chandigarh at 11th place, followed by Hyderabad (12), Mangalore (13), Vadodara (14), Jaipur (15), Calicut (16), Kolkata (18), Navi Mumbai (20) and Vishakapatnam (21).

Source BT-October 22, 2013  | 

Prestige Lakeside Habitat Booking started

Prestige Group  new pre launch of Residential project near vartur lake ( Whitefield - Sarjapur road).

It gives us immense pleasure to share the “New Pre launch” of “Prestige Lake side Habitat ”, Gunjur near Vartur lake Bangalore. Prestige lake side Habitat  will be a gated community spread across 102 acres of land with in 24 Blocks with 29 high rise buildings with  2, 2.5,3 & 4 BHK apartments approximately ranging between 1161 sq.ft to 2882 sq.ft.   And  271 independent villas of  3 & 4 Bed room  approximately ranging between 3030 sq.ft to 4827 sq.ft.

LOCATION	Gunjur, Near Vartur Lake
DISTANCE	From ITPL 6.5 km
	Close to Forum Value Mall
EXTENT OF LAND	102 Acres approx
TYPE OF PROJECT	High rise Residential Apartments & Independent villas
TOTAL Flats	3426 no
TYPE OF APARTMENTS	2 BR,2.5BR, 3BR,& 4BR
AREAS (APPROX)	2BR   : 1195sft - 1216sft, 2.5BR: 1346sft, 3BR   : 1655sft - 1697sft, - 2134 sft, - 2280 sft, 2381 sft 4BR   : 2830 sft - 2882sft,
BOOKING AMOUNT	2BR- 3Lacs, 2.5BR-4Lacs, 3BR-5Lacs,  4BR-7.5Lacs,

TOTAL  Villas	271 no
TYPE OF Villas	3BR, & 4
AREAS (APPROX)	A type 3 BR   : 3030 sft - 3117sft, B type 3 BR   : 4003 sft - 4033sft, C type 3 BR   : 4827 sft - 4934sft,
BOOKING AMOUNT	A type - 10 Lacs, B type - 10 Lacs,C type - 10 Lacs,

The launch offer is INR 4770per sq.ft (base price) for apartment  and INR 7650 - 8000 per sq.ft (Base price) for Independent villas plus other additional towards view/floor premium, deposits and taxes extra as applicable.

Please note, the price offered is subject to change. In case if you may have any clarifications please feel free to contact us.

The project is now open for pre launch bookings, offer valid for a limited period only, for floor plan etc feel free to call us we will email the details of the same.

To Book Your Flat, please feel free to contact me at

Nasir Shariff

98440 11876 

411 30 786 

email :  nasir@mnrealestates.com  / mnrealtors@gmail.com

More about Khata Status

The status of land as ‘A’ or ‘B’ Khata in Bangalore is a burning issue for many property buyers. With many of them not knowing the implications of Khata, its significance and other legalities related to it.

Properties falling under all areas which were previously under the Gram Panchayat jurisdiction and later came under the jurisdiction of Bruhat Bangalore Mahanagara Palike (BBMP), were given a property identification number, post the payment of all due taxes and registered in a ‘B register’. Such properties are called ‘B’ Khata properties. After the payment of betterment charges to BBMP, ‘B’ Khata properties need to get enrolled as ‘A’ Khata properties. For this, these properties should have DC conversion and tax receipts.

Can you transfer Khata to your name?

Yes, it is possible to transfer Khata to your name. In order to get this done, one has to go to the BBMP office and apply for Khata transfer with the required set of documents.

“For transfer and change of name in Khata, the owner of the property has to give a letter of requisition along with the title deed and the latest tax receipts to the Assistant Officer of the sub-division or range. The application for Khata transfer is the same as that for registration.

Source . MB

Prestige Sunrise Park, Pre-Launch Electronic City

Prestige Group  new launch of Residential project at Electronic City.

It gives us immense pleasure to share the “New Pre launch” of “Prestige Sunrise Park”, off Hosur Road, Electronic City 1^st Pahse, Bangalore. Prestige Sunrise Park will be a gated community spread across 25 acres of land with  in 2 Blocks with 14 high rise buildings with 1, 2 & 3 BHK apartments approximately ranging between 631 sq.ft to 1647 sq.ft.   

LOCATION	Electronic City -1st Phase
DISTANCE	From Hosur Main Road 1.2 km
	Close toWipro office, opp fire station
EXTENT OF LAND	25 Acres approx
TYPE OF PROJECT	High rise Residential Apartments
TOTAL Flats	1153 no
TYPE OF APARTMENTS	1BR,2BR, 2.5BR, 3BR,
AREAS (APPROX)	1BR   : 631sft -828sft 2BR   : 1123sft - 1154sft, 2.5BR: 1363sft, 3BR   : 1603sft - 1647sft,
BOOKING AMOUNT	1BR- 2Lacs, 2BR- 3Lacs, 2.5BR-4Lacs, 3BR-5Lacs,

 

The launch offer is INR 3900 per sq.ft (base price) plus other additional towards view/floor premium, deposits and taxes extra as applicable.

Please note, the price offered is subject to change. In case if you may have any clarifications please feel free to contact us.

The project is now open for pre launch bookings, offer valid for a limited period only 

To Book Your Flat, please feel free to contact me at

98440 11876 - 411 30 786 

email : mnrealtors@gmail.com

Prestige Misty Waters Booking started

Upcoming development Prestige Misty waters at Hebbal.

Sprawled over 5.7 acres at Hebbal, off. ORR, Prestige Misty Waters is adorned with Characteristic Elevation, Quality hallmark of Prestige and a splendid view and landscape. 

Close proximity to the city, the International Airport, IT Parks, Hospitals, Malls & Schools, and Prestige Misty Waters is all set to create the most desirable address of the city. Tucked in 200 meters away from the ORR, makes the address more tranquil and cut away from the hustle and bustle.

Brief of Prestige Misty Waters: -

www.mnrealestates.com

Location	Hebbal, Off ORR, North Bangalore
Distance	From Hebbal Flyover 1 km   To Manyatha Tech 2.5 kms
Type of Development	Premium High rise Residential Apartments
Type of Apartments	2BR, 2.5BR, 3BR, 4BR
Total Land extent	5.7 acres
Total no of units	552 units
Total no of floor	Tower 1 & 2 – 23 floors, Tower 3 – 22 floors, Tower 4 – 25 floors
Size of Apartment*	2 BR units (ranging between 1129 sft -1135 sft), 2.5 BR units (ranging between 1292-1335), 3 BR units (1991 sft) & 4 BR units (2423 sft and 2399 sft)
Booking amount	2BR- 3Lacs, 2.5BR- 4Lacs, 3BR- 5Lacs, 4BR- 7.5lacs
Price	Rs.6000/- for Tower 1 & 2, Rs.6250/- for unit no 1,2,7,8 of Tower 3, Rs.6500/- for unit no3, 4, 5, 6 of Tower 3 and Rs.6750/- for Tower 4.
Floor Hike	Rs.20/-sft

Please find the enclosed booking form, project details and pricing for your reference.

We warmly welcome you to be part of “Prestige Misty Waters”.

Please Note you are required to carry the below at the time of booking:

• 2 cheques – 1^st cheque for the booking amount & 2nd cheque for the balance 20% of the sale value which will be dated 1 month from date of booking.
• 1 passport size photograph of the applicant & co-applicant
• PAN card no of applicant and co-applicant.
• The areas and floor plans are tentative and subject to minor changes based on sanctions/approvals.

Precondition for allotment :

• Balance 20% of the Sale value (rounded off to the closest value) to be paid
• Cancellation fee will be applicable as per the booking form.

for further details and booking kindly get in touch with us

Nasir Shariff

www.mnrealestates.com

98440 11876

Comming soon...Just one card with all property data

Property Card

BANGALORE: Make sure you have all property documents in order before survey department officials knock on your doors for registration under Urban Property Ownership Record (UPOR) process.

A first in India, the project seeks to streamline the ownership registration of urban properties and will kick off soon in Bangalore. It envisages issuing Property Record (PR) cards to property owners.

The cards will serve as the only authorized ownership record and have everything from the property sketch to its liabilities to its nature and identity of ownership.

Over 20 lakh properties in Bangalore will be covered under this project. The first phase covers 50 wards in Rajmahal Guttahalli, Sanjaynagar, Malleswaram , Vasantnagar, Yeshwantpur , Gayatrinagar, Rajajinagar, Vijayanagar, Jayanagar East, Siddapura and Yediyur. Tendering is under way for surveying and property document verification process.

What will PR card have?

A PR card will have details on property liabilities, sketch, map, boundary disputes, details on lease deed and the type of ownership The card will also have details on the right of way, light and air PR card is different from khata, which is a tax-paid certificate The PR-issuing process to involve leading banks so that property liabilities are up to date

Property cards to eliminate frauds

Ambitious Project Will Computerize Details Of 20 Lakh Properties In Bangalore

Survey settlement commissioner V Ponnuraj, also joint secretary to the chief minister, told TOI that the PR card will be a legitimate document based on which buyers can take a decision.

The UPOR will also entail computerization of all details of properties in the city and will go a long way in checking property frauds.

Tushar Girinath, secretary, land and UPOR, said every property owner should possess a PR card, which will instill belief and enhance confidence in conveying procedures like lease or sale.

Bangalore has grown exponentially in the past few decades. With its population surging, villages on the border of the city are being converted into urban spaces. But such properties are the root cause of much confusion. According to a survey, land is at the heart of major disputes in the city. A PR card will provide owners of all properties in the city security and safety by eliminating frauds, Girinath said.

Unravelling UPOR project

Urban Property Ownership Record aims to streamline registration of urban properties The project will cover over 20 lakh properties in Bangalore; first phase to cover 50 wards With computerization of property details, project aims to check frauds

PR cards to be mandatory

Once the UPOR is put in place, no registration process can be done without handing over the PR card pertaining to the property the buyer. '' Sub-registrars will have to facilitate the buyers to take a look at the PR card to have all details about the property, its ownership, exact area of land and liability on the property if any. If the property is in revenue pockets where agricultural land has been used for non-agricultural purpose without obtaining land conversion permission, we will still issue the PR cards. But the remarks section will mention the violation of land usage. If someone is in the process of buying such properties, s/he can get to know more about the property under remarks section . Nothing can be hidden from the buyer,'' said V Ponnuraj, commissioner, survey settlement , and joint secretary to the CM.

To get the PR card, the owner must provide the khata issued by the local body, registration certificate issued by the stamps and registration department and related documents during the draft PR card verification process. Those who do not possess the said documents will have trouble in getting PR.

Source TOI

 

Green buildings a growing trend in Bangalore

BANGALORE: Karnataka is home to 41 green buildings, the fourth largest figure for any state in the country. Of them, 39 are in Bangalore.

Green buildings are fast catching the imagination of the people. Though the penetration level is just around 5%, the Indian Green Building Council (IGBC) is happy the residential sector is coming up with such buildings.

Going by industry prediction, the residential sector — both independent houses and residential apartments — are set to outnumber commercial buildings by 2030 in India.

Maharashtra tops the national figure with the highest number of green buildings, followed by the National Capital Region. Tamil Nadu holds third position.

According to figures with IGBC, there are 1,909 registered buildings in the country, of which 187 are in Karnataka.

What is a green building?

A green building is one which uses less water, optimizes energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to a conventional building. A building is assessed based on its predicted performance over its entire lifecycle. The stages identified for evaluation are:

Pre-construction: Intra- and inter-site issues like proximity to public transport, type of soil, kind of land, location, flora and fauna before construction activity starts, natural landscape and features.

Planning and construction: Issues of resource conservation and reduction in resource demand, resource utilization efficiency and recovery, reuse, and provisions for occupant health and well-being. Prime resources considered are land, water, energy, air and green cover.

Operation and maintenance: Of building systems and processes, monitoring and recording of energy consumption, occupants’ health and well-being and issues that affect the global and local environment.

How they are rated

The Leadership in Energy and Environmental Design (LEED India) Green Building Rating System is a nationally and internationally accepted benchmark for the design, construction and operation of high-performance green buildings.

Part of the Confederation of Indian Industries, IGBC Green Homes is the first rating program me developed exclusively for the residential sector. It is designed to rate new residential buildings — individual homes, high-rise apartments, gated communities, row houses — and existing residential buildings.

Builders have to register themselves for the green rating, once construction is complete. The project team then evaluates all the possible points under the rating system using a checklist.

GRIHA rating

Green Rating for Integrated Habitat Assessment (Griha) is the other popular system for evaluating green buildings.

Launched by The Energy and Resources Institute, it is suitable for all kinds of buildings in different climatic zones of the country. Griha has 300 projects registered with them in the country, of which 14 are in Karnataka.                                                                                                                                   source irn

Things an NRI should consider while investing in India

Things an NRI should consider while investing in India


If you are a non resident Indian (NRI) and you are looking to invest in Indian market, then there are a handful of things that you need to know before investing. Considering the downward journey of most of the developed economies in the past few years and the fact that Indian economy is en route to stability despite being marred by high inflation and interest rates, India emerges as an investment destination. India has managed to remain stable compared to other emerging economies and it is advisable that you can opt to invest more in your home country than the country where you work or staying at present.

Types of accounts
Before making any investments, you need to know the type of accounts you would be investing from. Being an NRI, ask yourself few questions before deciding upon the type of accounts – Does the fund in the account comprise of your salary? In which currency do you want to hold your account?

There are two types of NRI accounts:
(1) NRE account: In NRE account, your funds in foreign currency are converted into Indian rupees, at the rate prevailing at the time of transferring the funds from your account. The funds in NRE account are freely repatriated.
(2) NRO account: If you want to transfer Indian earnings through an account, then NRO account is suitable for you. You can deposit foreign currency in the account, too. The interest earned is subject to tax deduction at source at the rate of 30%. You cannot, however, repatriate funds in NRO account to abroad.
Assess each NRI investment avenue
First, you need to make up your mind as to where to make the investment. Investment decisions are not something which you impulsively take. Weigh each and every investment options before making the investment.
You can make direct investment into equities. Before investing into equities consider time horizon of investment and expected return as compared to risks being taken. Before investing in mutual funds, be sure to know all the fund house rules. Real estate can be a good choice for your investment as high price appreciation on properties in major cities is an undoubted possibility.

Taxation
Regarding taxation, you need to know all the different rules pertaining to different sources of income. For any income that is received in or arises or accrues in India is taxable for an NRI. However, any income that is received in or arises or accrues outside India is not taxable.
In case of dividends declared by equity oriented funds, i.e. of the mutual funds you are investing, more than 65% of assets are invested in equities, then being an NRI investor, your income is not taxed. Similarly, dividends declared by debt-ridden mutual funds (where less than 65% assets are invested in equities) are also tax-free.

Any mutual funds unit, if held for less than a year, is called a short term capital asset. When you sell units in equity oriented mutual fund are sold (redeemed) within one year of being held, then you incur either short term gains or loss. The short term gains are taxed at 15% on gain. However, when you sell off debt ridden mutual fund within a year, then tax is levied under slab rules for individuals.
When units in equity oriented mutual fund are sold off after a duration of more than a year, then gain on such units redemption is tax free. In case you sell off debt ridden mutual funds after being held for more than a year, gains are taxable as long term capital gains.

source cf

1 BHK @13.9 lakh onwards

We feel pleasure in sharing details of new residential project at pre launch booking , 

Brookwoods located off Old Madras Road, Budhigere. The project is spread in 10.5 acres with a well planned 1 BHK Apartments and will have best of amenities and features like swimming pool, Tennis Court, Gardens, Tree Plaza and more.

Designed by renowned Architect Haafez Contractor, Brookwoods is a perfect culmination of living and value. Spacious balcony, lofts for storage and separate washbasin, bathroom and toilet are some of the significant features of the apartments.

We would like to inform you that, we have commenced the bookings and have introduced a limited period pre-launch offer


1 BED ROOM : 13.9 Lakhs onwards
Booking Amount : 1 Lakh

For further details and booking feel free to 
contact us 98440 11876 or

email us : nasir@mnrealestates.com
mnrealtors@gmail.com

1 BHK for 15 Lakhs* Onwards

Pre launch Booking Started



1 Bed room flat  with built area 500 sq ft  For Just  Rs.15 Lakhs* onwards Approx

Total Land Area : 10 Acre with 60% open space with all facilities back up power and lots more..


MG Road                   30 minutes
Airport                        45 minutes
ITPL                           15 minutes
Whitefield                   15 minutes
Outer Ring Road         15 minutes

To know more about the project register with us for the
pre launch booking....


For Booking call  MN REALTORS
Email : nasir@mnrealestates.com
Mobile : 98440 11876
Land Line : 080 4113 0786

Flat for rent at Whitefield

PSN 3 bed room, 2072 sft flat with all wood work and light fittings , brand new flat for rent : Rent : 32 including maintenance.

For further details feel free to contact us

Nasir Shariff
98440 11876

Capital Gains Tax ---

How to save capital gains tax while selling a house?

What is capital gains tax?

Capital gains means the profit obtained from the sale of a non inventory asset which had been purchased at a lower price than the sale amount. Capital gains tax is the tax levied on this profit. Capital gains tax may be levied on sale of various assets – bonds, stocks, precious metals and property.

Buying property for investment purpose and selling it off later is a regular practice. However, if you are looking at making profit from selling your ancestral property or selling a house which you had bought earlier, you should keep an eye on the tax payable on the gains.
Capital gains on property

In India, if a property is held for more than 36 months, then the profit obtained form its sale is regarded as long term capital gains. If the property is held for less than 36 months,i.e. 3 years, then the gains made of sale is regarded as short term. While long term capital gains are taxed at a rate of 20%, short term gains are taxed at normal rate.
In case of shot term gains, an individual is taxed as per the tax slab he/she falls under. For example, if he/she falls under 20% tax slab, then 20% tax will be levied on capital gains.
Ways to save capital gains tax:

1. Indexation

In case of long term gains, i.e. the property being sold after 3 years, tax is calculated as per indexation. Indexation involves cost inflation index on the basis of which cost of acquisition of the property is recalculated. As the inflation factor is taken into account, cost of the asset is increased and gains is reduced. Hence the tax payer gets benefitted from indexation.

Indexation rates are notified for every financial year by the government. The indexed cost is calculated as per the following rule:
Indexed cost = original cost x (indexation rate for year of sale/indexation rate for the year of purchase)
Long term capital gains are calculated as: Capital gains = Sale price – Indexed cost

Indexation is included in determining profit in case of long term capital gains. As the tax payer is able to inflate the cost of his/her assets, it is advisable to hold the asset for more than 3 years, so that you can lessen the tax as compared to short term gains.
2. Investment in real estate

You can claim tax exemption under Section 54 on the long-term capital gain on sale of a property. If you buy a house within two years or construct a house within three years with all the profit made of sale, then you can avail tax exemption.

You can avail tax exemption if you had bought a second house within a year before selling the first house.
Further, you can avail tax exemption under Section 54 (F), too. For this, you need to own not more than one house and invest sale proceeds from assets other than a house in real estate. Real estate investment in India must be made in residential properties, not in commercial properties or vacant plot, in order to avail tax exemption.

3. Investment in capital gain bonds

You can avail tax exemption on sale of a house if the profit is invested in either bonds of the National Highways Authority of India and Rural Electrification Corporation Limited for three years. The investment has to take place within six months of realising the profit, i.e. selling the house. However, investment is allowed only up to Rs 50 lakh in a financial year. Usually the interest on these bonds is around 5-5.5%.

Hence, few factors should always be kept in mind when you are going to buy or sell a property. While making profit by selling a house, you need to know which tax bracket you fall under when calculating capital gains tax and also whether or not indexation can save tax payable for you.

Source- CF

Flat for sale at cox town

Exclusive 3 bed room flat with all fittings/ fixtures  for sale the apartment is situated at cox town.
Built area =1650 sft.

For any further details feel free to contact us

Prestige Tranquility Flats for sale

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   Prestige Tranquility, spread across 38 acres of lush green landscapes and vast open expanses, offers you a wonderful home in perhaps the quietest environment that money can buy.
   
   Located in Budigere, off Old Madras Road, Bangalore, Prestige Tranquility offers a choice of one, two and three bedroom apartments, beautifully crafted to suit your needs, tastes and most importantly, your budget. It offers you the freedom and the reassurance to live life on your terms!
   
   Prestige Tranquility comes with all contemporary lifestyle amenities like a Fully Equipped Clubhouse, a Swimming Pool, a Gymnasium and more. All rounded off by an ambience that is blissfully tucked away and yet readily accessible via the expressway, which is why at Prestige Tranquility, we say “Welcome to a New Universe”.
   
   Few Flats available for re-sale at Prestige Tranquility
   
   1 BHK : 664 sq ft
   2 BHK :1139 sq ft
   3 BHK : 1820 sq ft
   
   All premium flats for any further details feel free to contact us
   
   Nasir Shariff
   98440 11876