DKS Bought Allotted Land, Says Hiremath
Feb 22, 2014
Source : The Indian Express


BANGALORE: Declaring that he would meet the Governor soon to demand action against Energy Minister D K Shivakumar, social activist S R Hiremath on Friday accused the minister of buying 10 acres of land allotted for a layout in Kodigehalli.

Hiremath claimed the land of the NTI Employees’ House Building Co-operative Society was under acquisition for formation of a layout. The activist said the Society was among the 45 house building co-operative societies (HBCS) indicted by a committee in 1988. Though the initial request for land was for 66 acres in Kodigehalli village, it was increased to 171.37 acres in just two months. However, in the agreement between the society and the government in 1984, a total of 322 acres in three villages — Kodigehalli, Kothihosahalli and Byatarayanapura — were acquired.

In 2005, Shivakumar allegedly bought 10 acres in survey numbers 65(p), 66, 67, 68, 69 and 70 at Kodigehalli for `10 crore. Hiremath accused the Minister of purchasing the land through his personal assistant N Chandrashekhar for SBG Housing Pvt Ltd. “The purchased land was under acquisition and Chandrashekhar mortgaged the property with Andhra Bank in 2011 and raised `75 crore. This is illegal as the land was acquired under the Land Acquisition Act. Further, SBG Housing Ltd even transferred it to a Mumbai-based real estate firm to construct an apartment complex,” Hiremath alleged.

Meanwhile, reacting to MLA Ramesh Kumar’s statements, Hiremath said his NGO, Samaj Parivartana Samudaya (SPS), was ready for any probe into funds received by it from foreign countries.

 “The organisations, including SPS, fighting against people who have encroached government and forest lands, will intensify protests. Kumar’s baseless allegations are vengeful acts of a person who has not only grabbed over 60 acres of forest land but continues to occupy the land,” Hiremath maintained.


Latest Realty News

Bangalore the most preferred place for buying house: ASSOCHAM survey
Feb 22, 2014
BANGALORE: The city is the most preferred for buying a house in 2014 thanks to connectivity, infrastructure and basic facilities, according to the findings of a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Growth poles on the realty map
Feb 22, 2014
BANGALORE: The latest Residex, the residential property price index released by the National Housing Bank (NHB) shows that while home prices are in general witnessing an upward movement, the prices in several Tier-II and III cities during the October-December quarter have seen an increase of the same levels as metropolitan markets or even greater.
Bangalore: The tall storey
Feb 20, 2014
BANGALORE: Bangalore is known for its bungalow culture. It’s not surprising then that the country’s IT capital doesn’t have a great skyline. That maybe about to change. In a daring move real estate developers are reaching for the stars in a bid to give Bangaloreans a skyline to shout about.
Bangalore real estate rings in new year with PE deals
Feb 19, 2014
BANGALORE: Just 45 days into the New Year and Bangalore is seen to be racing ahead in attracting private equity investments in the real estate sector. Many deals topping $10 million (above Rs 60 crore) have been concluded or are in advance stages of closing, said multiple industry sources.
Commercial property market sees upward trend
Feb 19, 2014
BANGALORE: Positive indicators for growth are increasingly evident across the real estate sector with results pointing to a slightly faster improvement in retail real estate compared with office and industrial. At the forefront of these trends are the UAE and Japanese real estate markets, where the Occupier Sentiment Index (OSI) and the Investment Sentiment Index (ISI), are firmly entrenched in positive territory. Significantly, twelve month forward expectations for rents and capital values in b
CM sets roads rolling to nowhere
Feb 17, 2014
BANGALORE: CM Siddaramaiah's allocation for Bangalore's roads - a surprising Rs 8,800 crore - is enough to beat Singapore's smooth network. The funds are earmarked for roads and related infrastructure, including road widening, elevated corridors, grade separators etc. But look close, and there's nothing concrete about the plans.
Karnataka Budget: Thrust on infrastructure
Feb 17, 2014
BANGALORE:The State government’s budget for 2014–15 proposes projects worth Rs. 9,476.86 crore for Bangalore to remove traffic bottlenecks, expand the public transport network, increase water supply lines and create new drainage pathways.
Uniform stamp duty on joint development projects in Bangalore
Feb 17, 2014
BANGALORE: This is good news for real estate developers and landowners. The budget has proposed a uniform stamp duty of 2% on joint development projects, bringing down land registration cost.
Demand for commercial space on uptrend in PBDs of Bangalore
Feb 16, 2014
BANGALORE: With its landlocked area, competitive property rentals and infrastructure initiatives, Bangalore is an attractive destination for occupiers. While the Peripheral Business Districts (PBDs) of Outer Ring Road (ORR) and Whitefield have been performing well, more recently, north-east and north Bangalore have come into prominence.
Two teams to probe realtors’ murder
Feb 15, 2014
BANGALORE: The police on Friday formed two teams to investigate into the murder of two Bangalore-based realtors whose bodies were found with heads severed in Kollegal forest of Chamrajanagar district on Tuesday.

Latest Realty News Of State

Realty Talk's