Wednesday, June 4, 2014

Salarpuria Melody Apartments for sale Located at Mysore Road, Bangalore available with 2BHK and 3BHK Apartments.

Salarpuria Melody Multistorey Apartments Area Range 1237-1811 Sq.ft, Located at Mysore Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.
 
http://bangalore5.com/project_details.php?id=641
 
Description:
 
Step into Melody, a sweet and rhythmic tune greets you .Your home will be bounded by lush greenery, open spaces which is an over whelming feeling giving you enough space to sprawl out.

It has broad prominent pathways, giving it a picture perfect setting for you and your family. This residential enclave has 308 well crafted homes designed meticulously to meet global standards and adorned with a host of amenities.

Apartments ranging between 1265 sqft and 1800 sqft with 2 and 3 bedrooms options are now available for booking. Just located on Mysore road t is in close proximity to the proposed IT corridor, ring road, NICE corridor, renowned super specialty hospital, shopping complexes and well named schools. The area of location is increasingly becoming the destination of the future with the upcoming IT corridor, various important IT/Corporate identities and the Metro Rail hub on Mysore Road.
 
Amenities:
 
swimming pool,
club houses,
gymnasium, 
indoor game area
 

Investment in real estate should be without any risk, and should be possible to get reasonable returns and appreciation in value. Investment is made after satisfying about the land and building prices. An investor experienced in real estate market will work out the purchase price based on several considerations. Others who are not knowledgeable in these matters may pay a higher price or involve in complications.

Location:

The land located in a rural area beyond the influence area of the city will fetch a lower price than the land in the rural area within the influence area of the urban settlement. Dry agricultural land will fetch lower price than the irrigated land. In the same rural area the land facing a highway will fetch more value than the land facing a village road away from the highway. Prices are more for lands along the national highway or major district road. The reason for this is the potential it has for industrial or commercial development.

In the urban areas, land value will be more in bigger cities compared to lands in smaller urban areas.

Lands which are within the urbanisable area of the Master Plan will be costlier than the lands in the green belt / agricultural zone. Within the urbanisable area of the master plan, the lands in commercial zone will be costlier than lands in residential zone or industrial zone.

Authorised properties with approval of competent authorities like; BDA, BBMP, etc will be in demand and it is possible to get higher land value. Lands within I nearer to the central area of the city will fetch more value.

Schemes of development authorities:

Lands adjoining scheme areas of BDA I development authorities will be costlier as it is possible to extend the developed roads and utility services of the developed scheme.

Floor Area Ratio (FAR):

Lands with higher permissible FAR will be costlier as the saleable area I usable area will be more. Builders consider this aspect in proposing the lands for their project. FAR will be more for lands on wider roads and such lands will have more demand.

Central area:

Lands in the central area or nearer to the central area of the city will get more value than lands in extensions or suburbs. Activities which attract well to do public like; fashionable shopping area, modem malls, star hotels, facing golf course or major public parks, etc will get higher land value.

Nature of the locality:

Lands in localities like; M.G.Road, Levelle Road, Palace Orchard, High Grounds, etc will have higher land value compared to lands in localities with lower income groups.

Quality of development:

Lands I buildings in projects of reputed developers I builders will get higher rates due to the quality of construction, facilities provided, landscaping, the type of people occupying the buildings, etc. Properties nearer to popular convents, and good civic amenities like park, play ground, etc, will have more demand with higher value.

Commercial complexes: 

In case of commercial complexes, the units facing the road will have more demand and value compared to the units inside.
Ground floor units will have more demand than the upper floor units. Examples of this aspect are the Barton Center, Public Utility Building, West Minister (on Cunningham Road), etc. 

Parking: 

Reserved parking available in office units in commercial complexes, and flats in apartments will have more demand than those without reserved parking. It is worth to buy a unit with reserved parking even if extra money is charged for the parking space as the vehicles are safe and cleaner in the reserved parking. 

Facilities in the building complex: 

Higher value is possible in tall buildings with availability of bore well in view of shortage of BWSSB water, and diesel generator to use lift and general lighting during power cuts in summer months, and other facilities for playing, club house, etc. 

Guidance value: 

For registration of properties before introduction of Guidance Value by Government, the stamp value fixed was on the basis of discretion by the Sub-Registrar. This discretion power was misused and corruption was rampant for undervaluing property. There was also a procedure for appeal to the deputy registrar on the value fixed by the sub-registrar, which power was again misused for reasons known. Government used to lose lot of revenue by undervaluation of properties by the property owners in collusion with the officials of the registering authorities. 

It was a good proposal of Government in fixing the guidance values for both lands and buildings avoiding the discretion power of registering authorities and under valuation by property owners. Another advantage of the guidance value was arriving at the property tax in the Self- Assessment Scheme of the BBMP / local body on the basis of guidance values fixed for various areas of the city. 

Guidance value is also useful in Akrama -Sakrarna Scheme for fixing the fine amount for regularizing unauthorized sites and buildings, and violations from building sanctions. This scheme was withdrawn after agitations from the residents welfare organizations and law abiding citizens against the scheme, and agitations also by property owners involved to reduce the fine amounts which were heavy. There is also a case pending in the High Court against the scheme. The bill sent by the Government was returned twice by the Governor. The first time it was returned stating that the scheme will encourage unauthorized developments and building violations. 

The observation second time was to submit the bill only after disposal of the case pending in the High Court. BBMP / BDA which are responsible for allowing unauthorized constructions and building violations are keen to introduce the scheme to get huge amounts as fine for regularization. Periodical revision of Guidance Value may be done once in two years to update the values according to the increase in market values, latest trend in potential for development, etc., and to get more revenue. The aspects mentioned in this article may be considered while revising the Guidance Value. As far as possible, there should be no element of discretion by the officials of the registering authorities to avoid corruption and under valuation. The details of Guidance Value should be clear to the investor to plan the investment. The procedure for appeal should be simple and quick. 

Hope the Revised Guidance Value will be clear and simple, the values are almost equal to the market values, and useful to the investors in real estate.
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