Category: Property matters

KHB Suryanagar Phase – 1 sites for auction on 28 January 2014

Attached is the ad in TOI dated 10 Jan 2014, for auction of corner sites in KHB suryanagar phase-1. These range from very big sites to smaller ones whose measurements in square feet are there as part of last column in the ad. the suggested price by KHB is 2,500 per square feet from where it would be bidding higher up.

Other details:

  • auction is on 28th Jan 2014 at 11:00AM at phase-1 KHB office in suryanagar.

  • 3 HIG sites, 8 MIG, and 4 LIG sites.

  • 50000 for registration at the location itself

  • first come first serve, based on token numbers

  • DD in the name of Griha Ayuktaru, Karnataka Griha Mandali

  • Tokens will be given at 10am

  • 25% of amount to be paid within next day if you win, in the bank

  • 2 passport color photos, and address proof to be provided

  • whoever has token issued in their name only they can participate and only they have to pay from their account if they win

  • KHB reserves right to change properties for auction or even cancel the auction without assiging any resons whatsover.

  • you can contact 27804400 or 9740335386/9980869439

Bhumi puja completed for netaji subhas chandra bose khb layout,nearbidadi

On 22nd JAN, 2013 in the times of india, KHB has released a notification for the bhumi puja for Netaji Subash Chanda Bose layout, at Bidadi. There are very sparse details (less details) on what exactly this layout will contain, but it prominently looks like they will offer individual sites and houses surely. The development may later incorporate apartments as well.

This function was presided by Jagdish Shettar, Somanna, GT Devegowda, the chairman of KHB, HD Devegowda and HC Balakrishna, MLA of magadi constituency.

There were no other details that were provided.

Tags: apartments, bangalore, bengaluru, bidadi, blog, bose, chandra, cm, devegowda, hd, housing, jagadish shettar, karnataka, khb, kumaraswamy, magadi, netaji, sites, subhash

KHB announces auction notification for 1st phase of suryanagar

-auction date is on 08-JANUARY-2013 at 11:30 AM.
-The auction location is at KHB suryanagar phase-1 office in khb suryanagar itself.
-The minimum stipulated recommended starting price is pegged at a rather steep Rs.2000 per sq.ft.
-These properties are sold at as-is-where-is basis. The initial fee for participating in the auction is Rs.50000 per site.
– DD or cash must be taken in the name of Commissioner, KHB, bangalore
– those unsuccessful would be refunded the amount after auction
– those winning the auction shall pay 25% of the amount along with 2 passport photos
– tokens will be provided at 10am. those coming later than 11:30 shall be disquaified from the auction
– if the winner does not provide 25% of the amount within 24 hours he shall lose 50000 without any reasons assigned
– Within 60 days the remaining 75% shall be paid
– in case this is not paid, bidder/winner shall lose the 25% as well
– the KHB reserves the right to cancel auctions without assigning any reasons for any of the sites published
– the winners are expected to register their sites with their own funds
– any alterations found in the stipulated dimensions shall be finalized by KHB and the bidders are bound by the same.

For more information contact 080-27804400, 9740335386 & 9980869439.

 

Tags: bangalore, bengaluru, khb, suryanagar, auction, january, real estate, land, plots, apartments

The phenomenon – part one

I always wanted to pen down this story, but time was at premium. It finally finds its way into this blog. This is not a story of a place. Its an article about the phenomenon called Koramangala and my gratitude for a chance to breathe, live and loathe it.

The year was 1983. But we were living in 1682. The mood wasn’t exactly one of jubilation but more of an urgency. An urgency to find a place which we could call our own, in anticipation of a family which would shortly burst at its seams. With many siblings of my father yet to be married, there was never a perfect time for this shift. Our then rented home 1682, in Rajajinagar had a reason to be vacated. With burgeoning rental demands, and for reasons beyond my comprehension when I was just six, and with pressure from everyone around, we had to vacate the place.

Koramangala was neither in the city, nor was a village. At best it wasn’t even lands that belonged to the rich and powerful Reddys those days. It was more of unexplored forest, which BDA decided to tame in the name of site allotments. My father had been allotted a site for five thousand rupees. Five thousand was like a current day fifty lakh figure to him with his rather abysmal salary levels and the last thing he could do was cough up this amount for the property. He had two choices – Koramangala and Indiranagar. While he could somehow locate the former, he was afraid to go to the latter area !! 🙂

After a lot of discussion and math crunching all the brothers decided to pitch in for the house so that my dad could enable the change in life. This in my opinion was the beginning and end of a joint family. The beginning was one of happiness and the seeds for the end were being sown not withstanding my oblivion about it.

The nearest  bus stop to Koramangala those days (80’s era) was can-you-believe-it Diary Circle which is a good 3-4 kms away. I would say its good for a heart patient as such, but for the good-for-nothing health freaks that we are, this was way too much. This also is the sole reason why my dad and grandpa are living/lived a healthy life. They walked this distance at least for a couple to three years before the phenomenon started happening. With just six houses for the entire eight blocks of Koramangala, this was nowhere near a phenomenon in the making.

From there what happened until now is the phenomenon.

From Orange to Black in one year!

Buy a house, get a mercedes free, Buy a flat stay along with a cricketer all your life (wondering doing what? batting and bowling along with him leaving my daily duties?), Buy a house, get gold jewelry in kilograms absolutely free. Wow. The way they were marketing their properties itself made a person feel Orange properties were upto nothing. Adding fuel to the fire they even started off a furniture mela, and an electronics exchange mela. Again things which were unbelieveable.

Well within a year, the colour has worn off. They are Black (listed) properties with criminal proceedings initiated against them now. Why? Since they did not deliver anything of what they promised but only ran away with investors money! Unbelieveable? well not really so. It was masterminded to absolute predictability. Yet we people never learn to listen to our intuition. Check it out yourself.

 

 

Real estate is back on a roll, get ready suckers :)

Someone told me the economy would take at least one year to recover. And I believed it to be so, until I saw these advertisements in the papers a few days back. Most of the ads seemed to scream: “Now is the time to buy an apartment, don’t let this chance go away, at just only yours truly 1 crore”. My quesiton is whether even 1/4 of the educated India population know how many zeroes are there to a crore. Yeah obviously only businessmen would buy such properties you and I may think, but there are a few ABCDs who are now ABReturnedDs who are smelling of green bills and some unfortunate mortals who also believe that they are in the same league only with a 75 lakh housing loan which will kill them shortly and eventually.

Look and click at the ads and you know what I am referring to.

While Mantri and Confident were just as usual marketing unaffordable stuff in some unnamed corner of Bengaluru, there are now a new set of new entrants of new offshoots of known big builders who are trying to cater to the “LOW END” 😀 people of Bengaluru who have now been pushed to being low end, due to their fate rather than anything else.

Our very own DSMax contributed to some newspaper real estate with their mini offerings all over Bengaluru. ND, Nitesh Estates and Salarpuria were showing off their age old offerings in a new colourful photograph. The ozonegroup was marketing its already marketed property “evergreens” for which it has found no takers until now.

Artha money is the new Orange Properties ka Baap trying to help every disoriented developer sell off his assets. I know how life can get when one gets disoriented. Even a small advice can make someone so gullible that he will fall for anything and everything. Its the same logic what some great netas use on the “aaaaaaaam admi”. Barring these Purvankaras new arm provident homes, and CSC led by mphasis ceo jerry rao and others of jaanagraha fame, are perhaps the only affordable stuff around Bengaluru. Note that I said “Around Bengaluru” – not in Bengaluru 😀 These guys are promising affordable homes at 17 lacs and 7 lacs respectively. We have to wait and see whether a person can enter a 7 lac house in the first place!

One thing is clear. As long as suckers like you and me are there in India, the builders will continue the exploitation and take us to even greater depths of agony, insolvency and bankruptcy. Happy home buying suckers!