Saturday, May 24, 2008

Mumbai sinking

Its not just water entering your doorsteps, its salt eating away the foundations of the building structures. Most people dont think about it but nature makes no exceptions between skyscrapers or slums

Bangalore residents cheated by VIP's

Scams comes in all shapes and sizes. We are used to politicians buying land cheap before carrying out major developments like Mr Gowda and company's association with Devanhalli. Now NDTV reports on scams in BDA plots which are bought by poor VIP's. A country of a billion scams. For every scam detected there could be 99% more undetected. Such is the state of the land of the Mahatma

Bangalore VIPs fake poverty for land
Yogesh Pawar
Tuesday, May 20, 2008 10:48 PM (Bangalore)

At the centre of Bangalore's land grab controversy is the very agency that's meant to build a better city, the Bangalore Development Authority (BDA).

They are meant to ensure affordable housing to those who cannot pay the high rates in Bangalore's real estate market.

But instead, BDA finds itself charged with selling the same land to a host of VIPs and politicians.

All the scam needs is, simple paper work to falsely prove that you are eligible for subisided BDA land.

To qualify for the land an applicant needs to prove:

* He/she has been a resident of Bangalore for over 20 years.

* He/she does not own any property in Bangalore.

* Most significantly that their annual family income is not more than Rs 1.20 lakh.

Many VIP's by using false affidavits have managed to get land allotted to them, they have also been passed off as Bangalore's underprivileged to get prime land at very low rates.

List of these ministers and former ministers cut across party lines like, Baburao Chavan, Ramalinga Reddy, M Diwakar Babu, S S Mallikarjuna, M Mallikarjuna Nagappa.

Former Members of Parliament, Vinayakumar Sorkae, R S Patil and Iqbal Ahmed Sardagi.

There are other former Members of Legislative Assembly and Council Venkatrammanappa, Yogesh Bhat, Basantha Reddy, Marilinge Gowda, A Narayanswamy, Sharanappa Thipanna Sunagara, B T Parameshwara, Gopala Pojar, R Narayana, Dinesh Gundu Rao, A S Guruswany, G V Sidappa, D G Shantha Gowda, B S Basavaraju, Katta Subramaniam Naidu, Sirak Shaikh, Vadnal Rajanna, Anasyumma Nataraj, H R Alaguru, M Shankara Reddy, Raja Venkatappa Naik, N Sampangi, Syed Azeem Peer S Khadri and S P Mudda Hanume Gowda Nagappa, Dr M Akbar Ali, K Kushal
T S Mruthyujayappa, V R Sudarshan, C Ramesh, Winfred Fernandes, Jalaja Naik, Profulla Madukar, Vimala Gowda and Nirmala Venkatesh.

S Nagraj, a petitioner said, "The mandate rule is that they should not own sites when they apply for ministers quota. but on the pretext of ministers' quotas, they have taken these plots. People who are standing in queue for getting these sites, have been deceived by the government."

It's a staggering scam and is only possible with the full cooperation of corrupt BDA officials. A scam which exposes the claim that Bangalore, has no land for low cost housing.

Activists have gone to court about this blatant corruption on the part of BDA officials.

R Shivaswamy, advocate and anti-corruption activist said, "BDA have cheated the government by giving the lowest stamp duty and the lowest land cost."

Times of India and Builders desparate to raise prices

First it is the Times of India which predicted a rise in housing prices due to higher input costs. The very next day the KOAPP has said an 8% rise in prices is inevitable due to the same reasons. The bottom line is that builders are trying to create a FUD (Fear, Uncertainity and Death) phenomenon in the bangalore market. Similar things happened in Pune last month where PBAP has gone on record saying they will hike prices. Instead of passing the increased costs to the consumer, why dont the builders lower the land bank prices which are quoted by the land owners. In a heavily politicized business the builders are beginning to feel the pinch.
Below is the Times article

Realty prices may go up in Bangalore TIMES NEWS NETWORK

Bangalore: A bullish inflationary scenario, ever-rising commodity prices, hardening of interest rates and strengthening of the rupee. These are the key factors that are making real estate developers in the city wake up to hard realities. Despite all these odds, realty players, so far, have been trying to have their feet on the ground shielding severe competition in terms of price pressures and uneven demand and supply conditions.

City realty developers have now decided to pass a portion of their burden to their patrons, realising the fact that they cannot afford to bleed anymore.

According to well-informed realty sources, the developer community is mulling a end-buyer price hike of 3% to 7%, to take a bit of respite. The price rise will impact all kinds of projects across the city in various stages of development. “Depending on stage of construction, the percentage price hike will vary. First only an incremental rise will be passed on. If the market situation continues to remain the way it is, another rise will take place,’’ said a source.

In the last 9 to 12 months developers in city have borne an input cost rise between 20% and 30%. Rising prices of steel, cement and labour have been driving input cost higher.


Inputs costs rise between 20% and 30%

Rising prices of steel, cement, labour drive input costs higher

Real estate price may therefore go up between 3% and 7%