Property Records to be Revised by January 15, Says Reddy
Dec 12, 2013
Source : The New Indian Express


BANGALORE: In an attempt to get information on built-up area of buildings and thereby generate more tax revenue, District Minister R Ramalinga Reddy has directed the BBMP to revise records of all registered properties by January 15.

Reddy made the announcement at a revenue review meeting at the BBMP’s South zone office on Tuesday. Reddy said in South zone alone, property identification (PID) numbers had not been issued to around 8,000 properties. “This apart, more than 50,000 properties in South zone have to be revised. In some cases such as commercial buildings, the owners have not declared the actual built-up area,” he explained.

Interestingly, the Minister also suggested that the Palike take the help of engineering college students for the task of revising property records. “It can be outsourced to a private agency too,” he added.

BBMP Commissioner M Lakshminarayana said

the Palike would outsource the task of surveying to private agencies. “We cannot depend on students alone as they are not experts. Along with surveyors, students can help revise the data related to properties,” he added. Mayor B S Sathyanarayana said the BBMP could collect nearly `500 in taxes if the property records were revised.

Frozen Works to Resume

Mayor Sathyanarayana said works that had been allocated a total of `522 crore but had been suspended later on would be taken up on a priority basis.

“I shall speak to the government and request them to release funds for the works that can be taken up on priority basis. Prior to this, chief engineers and zonal commissioners has to maintain the road history,” he explained. The road history includes data of nearly 93,000 roads. It will contain details about asphalting, street lights and drains. This is expected to avoid duplication and other misappropriation of funds.

“Officials have to meet with the elected representatives and give the list of works that has to be taken up on priority basis.  I shall give time till Saturday to the officials to submit the road history registry,” he said.

Waste disposal Tardy: Reddy

The Minister said the garbage disposal system in the city was not up to the mark. “People are paying taxes. It is Palike’s responsibility to provide better roads, clear debris and garbage. But I can see heaps of garbage piled up on main roads and prominent junctions.

The BBMP Commissioner or Mayor alone cannot clear the mess. It is the duty of officials who has to come out of their offices and travel through roads. Chief engineers and zonal commissioners has to travel around their jurisdiction in various wards. If they find garbage, engineers concerned should be informed,” he said


Latest Realty News

Property prices in Mumbai, Delhi highly overvalued, say analysts
Dec 12, 2013
BANGALORE: After years of double-digit growth, house price rises in major cities are expected to slow to just under 8 per cent next year as a cooling economy and rising interest rates deter new buyers, a Reuters poll showed.
Bangalore, Mumbai slip in investment destinations list: PwC
Dec 11, 2013
BANGALORE: Indian cities slipped further in the regional rankings this year, but did manage to retain a position in the top 25 real estate destinations of the Asia Pacific region. Delhi has maintained its ranking at 21st position while Chennai has made an entry for the first time at 22nd position while Mumbai and Bangalore slipped to the 23rd and 20th positions respectively in the list of investment destinations covered by the Emerging Trends in Real Estate Asia Pacific 2014, published jointly b
Motilal Oswal plans second realty fund
Dec 11, 2013
BANGALORE: Motilal Oswal Real Estate is planning to raise Rs 300 crore from Indian investors, via a real estate fund with a greenshoe option of Rs 200 crore.
Abu Dhabi Investment Authority to invest $250 million in Hines India Real Estate
Dec 11, 2013
BANGALORE | NEW DELHI: Abu Dhabi Investment Authority is investing $250 million ( Rs 1,500 crore) in Hines India Real Estate, the Indian arm of American property development and management firm Hines, amid a rise in overseas interest in the sector.
'Realty Sector Burdened by Too Many Laws'
Dec 10, 2013
BANGALORE: State members of the Confederation of Real Estate Developers Association of India (CREDAI) on Thursday strongly opposed the Real Estate (Regulation and Development) Bill, stating that the sector was already governed by too many laws.
With slowing economy & inflation, house prices to rise at slower pace in 2014
Dec 10, 2013
BANGALORE: After years of double-digit growth, house price rises in major Indian cities are expected to slow to just under 8 per cent next year as a cooling economy and rising interest rates deter new buyers, a Reuters poll showed.
BWSSB shuts valve on 90 real estate projects
Dec 09, 2013
BANGALORE:Commencement of at least 90 real estate projects in the newly added areas of the Bruhat Bangalore Mahangara Palike (BBMP) have been affected following the delay in the Bangalore Water Supply and Sewerage Board (BWSSB) issuing no objection certificate (NOC) .
Bengaluru real estate gets maximum private equity investment of Rs 1979 cr
Dec 09, 2013
BENGALURU: Bengaluru's realty market received the maximum private equity investment of nearly Rs 2,000 crore in the country during January-September 2013 with increased demand for leased office assets from institutional investors, according to property consultant Cushman & Wakefield.
Global IT firms hunt for properties in Indian cities to expand business
Dec 07, 2013
BANGALORE: Multinational information technology companies are on a property hunting spree across major Indian cities as they expand offices and hire more people to run them. The brisk investment flow has come as a blessing for the real estate sector, which has been struggling with falling sales and rising inventories for the last two year
Why should one consider Bangalore for investment?
Dec 07, 2013
BANGALORE: Bangalore’s realty market has a steady a mix of projects targeted at different price points. There is plenty of choice for the end user/ buyer market and second home/ investor market. The consumption rates for the residential segment are better in comparison with the other metros. The city has a large talent pool and the number of people moving in to the city has been steadily increasing. Students, interns/ trainees, working class and expats have been the major driving force for the r

Latest Realty News Of State

Realty Talk's