Set Your Eyes on Bangalore's Navi Mumbai Neo Bangalore Takes Off

Neo Bangalore is taking off with great promise. Neo Bangalore aka Hoskote. The promise of Hoskote makes it another Navi Mumbai in making. A planned township, with established industries coming in and world-class connectivity, that's what Neo Bangalore is all about. The government too has seen the promise of Hoskote and that would translate into better facilities and sops.

Those who have expressed interest in this growth area have given a number of reasons. Primarily, the attraction is to live in a place that will be well planned and has good infrastructure. As one industry player said, “Neo Bangalore should be able to distill all the good features of Bangalore city and highlight the same. The soothing greenery, the lure of managed growth and the promise of a bustling activity will be enough to attract people here.” That's exactly how it had happened in Navi Mumbai. Aimed at decongesting Mumbai, Navi Mumbai became a hot   property   with the land rates doubling more than ten-folds as businesses and residences came up to accommodate the people. Today, it is a well known destination to live and work.

Similarly, the city of Bangalore is welcoming a similar satellite township that will take on its multitudes. Neo Bangalore fits the bill perfectly.

Why Neo Bangalore

At Neo Bangalore it would be exactly like living in old Bangalore with swanky new facilities. “People are nostalgic about old Bangalore but they definitely want the buzz of the new. A satellite town like Neo Bangalore will combine the two elements making it a winsome solution,” says an old Bangalorean who is quite fed up of traffic and mushrooming commercial establishments in his once-upon-a-time quiet neighbourhood.

Neo Bangalore will be able to extend the promise of Bangalore city without diluting its ethos or credence. As people begin to look at other cities as an alternative to Bangalore, it becomes logical to look closer home for an answer. Neo Bangalore will satisfy all those who remain true Bangaloreans.

The Promise:

Satellite Township

With Bangalore being one of the fastest growing cities of India, several new developments have happened. Among them is Neo Bangalore, an area of great promises and expectations. It is not a place where time will stand still. It will be about great ambiance, good infrastructure and fantastic connectivity.

Infrastructure

The government recently inaugurated a BMTC bus depot built at the cost of Rs 4.70 crores. A new integrated satellite township with proper infrastructure has been put in place. Good road planning has taken a precedent over here. The proposed Satellite Township Ring Road (STRR) covering 284 km will connect Hoskote with important satellite towns around Bangalore. The Intermediate Ring Road (IRR) covering 188 km, also connects Hoskote to the rest of Bangalore. The tremendous growth experienced the last three years has led to an increase in property prices, if reliable industry sources are to be believed. The year-on-year increase of prices is said to be about 30%.

Bangalore Real Estate Market and How It Looks Like

Bangalore has been the quickest developing city of India for years. IT has been the real development driver and is in charge of aggressive development in the real estate sphere in the city. Being the IT center of India, Bangalore has a multi-cultural populace with great social base, incredible instructive establishments and always redesigning physical foundation. Presently, the most guaranteeing micro-markets for residential living are Outer Ring Road (ORR), Sarjapur Road, Whitefield and North Bangalore.

Luxury Residential Living:

Bangalore is the third-biggest center point for High Net worth Individuals (Hnis). It is assessed to be home to in excess of 10,000 individual dollar millionaire tycoons. Bangalore has a substantial base of exiles living and working in the city. The inhabitants are decently voyage, well cultured and have incredible tastes.

There has been expanded interest for top of the line private homes in the city, especially in the Central Business District (CBD), Secondary Business District (SBD), Whitefield, North Bangalore and Outer Ring Road sub-markets. We expect buyer interest for top of the line private activities in these sub-markets to be enduring over the short term.

Bangalore is a standout amongst the most guaranteeing markets for villa ventures in India. Villa and row house advancements are most dynamic in North Bangalore, ORR, Sarjapur Road and Whitefield micro-markets. Top of the line private property purchasers in Bangalore are extremely sensitive regarding civilities, quality and unit sizes.

Mid-Income Housing:

This portion is basically determined by people working in the IT and ITES industry. The principle driving components for this portion are social foundation, close vicinity to work environments, great physical framework and access to good hospitals and schools and other educational institutions.

In view of these reasons, micro-markets, for example, Whitefield, the ORR IT passageway, Electronic City and few ranges in North Bangalore have seen a relentless interest from the mid-wage segment of the population.

Moderate Housing:

The interest from this fragment originates from amazingly value sensitive buyers – accordingly, reasonable tasks are created in the suburbs as these zones offer huge area bundles at lower securing expenses. Zones, for example, Mysore and Hosur Road, Kanakapura  and so forth have seen appeal for this portion.

By and large, these residential offerings are made moderate by lessened unit sizes, bargaining on community luxuries and different Usps which were commonly given as differentiators to the contending ventures in the micro-market/city.

Reasonable housing has seen consistent request on the edge of Bangalore, in all headings. Accessibility of huge area bundles at lower value focuses has supported these advancements. Likewise, the arranged Metro Rail and Peripheral Ring Road have expanded the interest on the edge of Bangalore.

With expanded interest, "moderate" lodging tasks have seen an increment in the capital costs and are presently evaluated higher than or like mid-pay section ventures.

These ventures have additionally seen considerable increase in capital qualities in light of expanded expense of area securing and development.

2 & 3 BHK Residential Apartments

Gopalan Olympia, one of the most eco-friendly residential projects in Bangalore, throws open the gates to an exclusive world of elegance, welcoming you to a heaven. Step into the nature of prudently designed green complex that is naturally lit on all the three sides and offers private and spacious 2 and 3 bedroom luxury apartments.

A conveniently planned residential extravaganza, designed on the principles of vaastu, Gopalan Olympia has all amenities & delightful extras that meet the needs of your life style.

Gopalan Olympia promises not just great living environs, but also a lucrative investment opportunity in one of India’s fastest growing metro cities, Bangalore. It is a home you’ll love coming back day after day.

Located at Kombalgudu, just 1 km away from the Mysore Road, this property keeps you in touch with Bangalore’s pulse points. Surrounded by reputed educational institutions, hospitals & social infrastructure, you could say life begins to take on a new shade of convenience here.

Resource from: www.99acres.com/microsite/gopalan-enterprises-gopalan-olympia-kumbalgudu-mysore-road-bangalore/about-project/

Budget 2015 Brings REITs Closer to Realty

REIT regulations expected to bring much-needed relief to cash-strapped developers

Introduction of REIT regulations has been lauded as one of the most important reforms in the real estate sector as it is expected to bring relief to the cash-strapped developers. It is expected to free up cash for developers of commercial assets, who have been facing liquidity issues with limited options for raising funds.

REITs are essentially trusts or companies that raise capital by issuing units or raise debt from investors, invest directly or through a special purpose vehicle (SPV) into revenue-generating real estate assets such as; shopping centres, offices, commercial spaces, etc. The income thus generated from assets of REITs is distributed among its unit holders.

Finance Act 2014 paved the way for introduction of REITs in India. It introduced specific provisions regarding taxation which was one of the key factors for the success of REITs. It was accorded a ‘tax pass-through’ status which means that income earned by the trust would be taxed in the hands of unit-holders and not trust, avoiding double taxation on the same income.

However, there were some issues that the industry felt were not adequately addressed by the finance minister in the last budget. From a taxation standpoint, there were some issues regarding sponsor taxability and some of the provisions being highly tax-inefficient vis-a-vis the sponsors. There were certain gaps on the pass-through front, concerns about levying dividend distribution tax or DDT at the SPV level, the stamp duty on contribution of assets to REIT, etc., which needed to be addressed.

Against this backdrop, the real estate sector was hoping that Budget 2015 would address some of the issues and provide the much-needed impetus to the sector.
The finance minister in his Budget speech acknowledged the need to give a boost to REIT listing in India as its success could play a pivotal role in reviving activity in the sector. Budget 2015 amendments have now brought the sponsor at par with the investor by allowing him to avail of the benefit of concessional tax rate on transfer of units of a REIT that have been subject to security transaction Tax (STT). Thus, short-term capital gains arising thereof would be subject to tax at the rate of 15%t and tax exemption has been provided in respect of long-term capital gains, a welcome step that puts the sponsor’s REIT units at par with other listed securities as far as the tax rates are concerned.

Further, rental income received by REIT for directly owned assets, has been given a pass-through and is not subject to withholding on distribution to the REIT. Such leasing income will be taxable only in the hands of the REIT investors and is subject to withholding on distribution by REITs to unit holders. The withholding is at a 10% rate for resident unit holders and at the applicable rate of tax for non-resident unit holders. It is yet to be seen whether non-resident unit holders will be allowed concessional rates prescribed under the applicable tax treaties.

However, some key areas including exemption from levy of DDT for the SPVs, applicability of minimum alternative tax or MAT on the sponsor at the time of contribution to the REIT have still not been addressed. Though passthrough status has been provided for rental income received by the REIT, no such amendment was made in respect of other revenue streams such as maintenance income received by REIT, making the structure possibly inefficient.

The policy is still silent on tax treatment in case of direct transfer of immoveable assets to the trust and while the Budget addressed concerns regarding transfer of shares of SPV by a sponsor providing them with a concessional tax rate, the holding period of three years for REIT units to qualify as long-term capital asset still does not put them at par with listed equity shares for which such period of holding is only 12 months.

Allowing foreign investments in REITs can be critical for its successful implementation. Amendments in foreign exchange management act or FEMA regulations for permitting foreign portfolio investors or FPIs and NRIs to invest in units of REITs without any cap or restrictions would be a welcome move. Modifications in the external commercial borrowings or ECB regulations should also be made so that REITS can leverage foreign debt.
Another issue that requires attention is applicability of stamp duty on transfer of asset by a sponsor to a REIT. Such charges etc render this model as highly cost-inefficient.

Sobha Rain Forest (Aspirational Homes)

Sobha Developers launched their new residential apartment project called Sobha Aspirational Homes  (in March 2015). Located in Balagere, near Varthurwithin close proximity Marathahalli, Outer Ring road, Varthur road, Sarjapura Road and Whitefield known as ‘Golden Quadrilateral’, the project is a boon for those looking for luxury and comfort in their dream home. Based on the theme it is being made, the project is rightly called Sobha Rain Forest

Sobha is well known for its quality standards and commitment. They are planning to develop this apartment project with pre-cast technology using best in class imported machinery from Germany and Italy. This makes these apartments all the more a wanted place for the people here.

Sobha Rain Forest Options
This project is spread over a massive 81 acres with a capacity to house almost 6000 families. The apartment size is expected to be in the range of 650 to 1200 square feet. Offering 1 BHK and 2 BHK apartments, these residences are specially designed keeping in mind nuclear families and professionals.

The prices Sobha homes has always been competitive and this time is no different. These apartments are competitively priced to make sure that they are well within the reach of the customers.

The Park and The Plaza by Sobha Developers

Sobha Developers is one of the most well known real estate developers in Bangalore. It has offered numerous real estate projects till date. Even today it has numerous projects both in residential and commercial sector, helping its customers realize their dream of owning a home, a home well planned, well constructed and well executed equipped with all the latest amenities.

One of the projects offered by them in The Park and The Plaza. Located on Kanakapura Main Road in South Bangalore, it is one of the highlights of the area and boasts of architecture like never before. Spread over 10.7 acres it has a total of 657 apartments distributed into 2 blocks with each block having 18 floors along with a ground floor.

The amenities are also ultra luxurious and something to look forward to:

Amenities
Sports Amenities
•    A 50mts long 3 lane
•    Swimming pool
•    A 25mts swimming pool
•    & Kids Pool
•    World-class Skate Park
•    A multi sports ground
•    A kid’s play area
•    A traffic park for kids
•    Kids racing bay

Leisure amenities
•    A picturesque lake promenade
•    A huge pet park

Amenities Indoor,
Block I, Leisure amenities
•    A grand amphitheater
•    A Plush clubhouse with indoor games, provision for adventure cycling and camping, gymnasium, pool
•    Table in the lounge area, foosball & multi-purpose party hall

Service Details
•    STP - Sewage treatment plant, Water Treatment plant, Organic waste converter, Visitor Car parks