Archive for the ‘Real Estate’ Category

Chennai Real Estate Forging Ahead

Monday, August 29th, 2011

Indias real estate development is expected to grow at a pace of 30 per cent annually. This has a direct impact on the mega cities, especially the four metropolitans that provide real estate opportunities to grow manifold. Chennai real estate cannot be far behind.There has been a huge demand for real estate in Chennai amongst the commercial and residential properties. In recent years, the city of Chennai has experienced a complete turnaround in its all-round infrastructure. The combined initiatives of the Government of Tamil Nadu and the Central Government are paying rich dividends in terms of approval of real estate projects related to infrastructural upgradations in Chennai.Tata Realty and Infrastructure Ltd (TRIL) announced an agreement with Tamil Nadu Industrial Development Corporation (TIDCO) to jointly develop an IT special economic zone (SEZ). TRIL is a new enterprise of Tata Sons Ltd, the holding company of the Tata Group. The Sell House Fast SEZ will be implemented in two phases – the first phase of 2.30 million square feet will be ready by end-2009 and the remaining 1.70 million would be completed by 2011. TRIL has embarked on several projects for real estate and infrastructure development.Located on a 25-acre plot in Taramani, the SEZ will include a five-star hotel or service apartments, an international convention centre and help generate direct employment for 40,000 people and indirect employment to another 15,000. Chennai real estate most certainly contributes in boosting economy of the state.Not only Chennai Real Estate is developing rapidly along side the government of Tamil Nadu but also foreign developers are showing valuable interest in the Chennai real estate. For instance, the Lee Kim Tah Township development in Siruseri, near Chennai, reflects the success of Singapore companies who have forged successful partnerships with their Indian real estate counterparts.

Agricultural Land / property Purchasing in Bangalore Law Information

Wednesday, June 29th, 2011

Before purchasing any sites especially agriculture land for non agriculture purpose approval under relevant laws viz. Karnataka Land Reforms Act, 1961, the Karnataka Land Revenue Act, 1964 along rules and other provisions of law is must. And Bangalore Metropolitan Regional development Authority (BMRDA) is regulating authority to approve layouts on outskirts of Bangalore.Clear title and documentation are hard to come by with agricultural land of Bangalore (Karnataka). The following is a useful checklist of documents for review by a Bangalore law firm / lawyer before purchasing Agricultural land:Mother deed and sale deed: It is very important document to trace the ownership of agriculture land. And it is basic document that shows how the property at the commencement was acquired there after there will be series of transactions such as sale gift law in Bangalore etc. Akarbandi: Land topography sketc buy my house h issued by State Revenue Authority viz. survey department. It establishes the survey number and to whom the particular survey number was originally allotted and the land / property revenue assessment details. Encumbrance Certificate: Certificate from State Revenue Authority stating that there is no lien on the land / property (Has to be obtained for the last 30 years) Family Tree of the vendor: State Revenue Authority document required to ascertain whether other family members have a stake in the property Saguvali Chit: It is also called Grant Certificate. This is issued on Form No..VII in case of grant of Govt. land to the eligible persons for cultivation. This establishes title of the persons in the Saguvali Chit to the land granted.Conversion Order: Conversion certificate has to be obtained for non agriculture purpose & that has to be checked to determine whether it is DC converted or not.