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Old 2nd February 2024, 11:57   #91
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Re: Bangalore Real Estate Musings

Quote:
Originally Posted by Everlearner View Post
. The rent agreements are due for renewal next month and I will ensure to include this in the formal agreement.

Yes, I any day prefer a good tenant over a few hundred rupees. In fact, I'm charging less rent for a tenant compared to others since he takes active effort in maintenance like monitoring the cleaning maid etc.,
If it helps, this is part of my rental agreement. Simple and straightforward. There's a clause on what is not in the maintenance charges somewhere below but language is on similar level.

Bangalore Real Estate Musings-screenshot_20240202_115212_samsung-notes.jpg

In a case of water issues if it occurs for my apartment, I would probably entertain a conversation with my owner (we got a pretty decent working relationship) but I think to give credit to him, he's been very honest on admitting when the expenses are attributable to him (as in the case of lift repair which wasn't explicitly worded in the agreement). We really appreciate that transparency in an owner-tenant relationship over a few financial costs / issues, or annual rent increase(s) we have seen recently.


P.s. Before someone asks, no the annual rental increase was not limited to just 2000Rs This agreement was made during Covid times when the rental scene in Bangalore was extremely beneficial to the tenants than landlords.

Last edited by ninjatalli : 2nd February 2024 at 12:03.
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Old 2nd February 2024, 12:04   #92
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Re: Bangalore Real Estate Musings

Logically, the cost of water tankers purchases should be split between all residents in the building (proportionately if possible ).

Water is not a free commodity, not sure why tenants should be complaining about bearing the charges.

And, everything cannot be driven by legal agreements - life happens and when it does, an open and logical conversation should be ideal option to consider.

And, if a tenant is being unreasonable, you must seek another - life is already too complicated to unnecessarily complicate it further with illogical arguments.

cheers
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Old 22nd February 2024, 13:56   #93
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Re: Bangalore Real Estate Musings

BBMP issues draft notification to restructure property tax calculation

https://www.thehindu.com/news/cities...le67870477.ece

Quote:
According to the draft, under residential properties, property tax for tenanted property will be 0.2% of the guidance value; for self-occupied tax, it would be 0.1%; and for fully vacant land, it would be 0.025% of the guidance value.
This will cause a massive increase in property tax as guidance values are extremely high in Bangalore. The administration is aiming for first world taxes and third world amenities.
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Old 22nd February 2024, 16:45   #94
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Re: Bangalore Real Estate Musings

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Originally Posted by androdev View Post


This will cause a massive increase in property tax as guidance values are extremely high in Bangalore. The administration is aiming for first world taxes and third world amenities.
I really feel sorry for those pensioners who have been staying in such places when land prices were in a different league, also those who have inherited such a place.

I fall in the former and will also end up in the latter also!
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Old 22nd February 2024, 17:06   #95
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Re: Bangalore Real Estate Musings

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Originally Posted by androdev View Post
This will cause a massive increase in property tax as guidance values are extremely high in Bangalore. The administration is aiming for first world taxes and third world amenities.
Perhaps I'm missing something in my calculation, but based on the guidance values I saw online for my area and some rough calculation, I see that my property tax will increase according to this new rule, but not by that much, about 15%

Has anyone else tried to do a rough calculation for their area? By what factor did it increase? (Again, I might have missed something.)

(Of course, that a lot of whatever we pay is being swallowed without getting anything in return is a different one.)
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Old 22nd February 2024, 18:42   #96
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Re: Bangalore Real Estate Musings

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Originally Posted by am1m View Post

Has anyone else tried to do a rough calculation for their area? By what factor did it increase?
I did a back of the hand calculation, came down to about 30% increase.
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Old 22nd February 2024, 20:08   #97
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Re: Bangalore Real Estate Musings

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Originally Posted by androdev View Post
The administration is aiming for first world taxes and third world amenities.
Somewhere the money given via guarantee schemes by Govt. had to be recovered. What better way than taxing the people to fill the coffers emptied by the schemes.

On the other hand, when people are paying in crores for a house, why complain when the Govt. asks for a few thousand more?
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Old 22nd February 2024, 20:21   #98
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Re: Bangalore Real Estate Musings

How did you guys find out the guidance value for your area? I tried searching for it on Kaveri portal but couldn't.
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Old 22nd February 2024, 20:42   #99
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Re: Bangalore Real Estate Musings

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Originally Posted by androdev View Post
This will cause a massive increase in property tax as guidance values are extremely high in Bangalore. The administration is aiming for first world taxes and third world amenities.
If this does happen, then we shall see a domino effect on house rentals or lease too. Overall the savings that people made on nil electricity bill and free bus ride is taken-back in this form. As they say 'There ain't no such thing as a free lunch'.
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Old 22nd February 2024, 21:06   #100
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Re: Bangalore Real Estate Musings

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This will cause a massive increase in property tax as guidance values are extremely high in Bangalore. The administration is aiming for first world taxes and third world amenities.
DKS spent a few hundred or even thousand crore from his pocket to win the election, he needs the money back. Maids in my apartment got Rs 2000 to vote.

This problem is with a freebie government with no solid revenue growth plan. Taxpayers will pay for freebies.
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Old 23rd February 2024, 09:05   #101
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Re: Bangalore Real Estate Musings

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Originally Posted by TorqueyTechie View Post
How did you guys find out the guidance value for your area? I tried searching for it on Kaveri portal but couldn't.
I tried to Kaveri portal first too, but couldn't find the information. Ended up just googling "guidance value <area name>" and found a PDF on some other site. May not be 100% accurate, or the very latest, but just wanted to do a rough estimate.
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Old 23rd February 2024, 09:09   #102
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Re: Bangalore Real Estate Musings

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Originally Posted by am1m View Post
I tried to Kaveri portal first too, but couldn't find the information. Ended up just googling "guidance value <area name>" and found a PDF on some other site. May not be 100% accurate, or the very latest, but just wanted to do a rough estimate.
Could you please upload the document here for the rest of us too?
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Old 23rd February 2024, 10:16   #103
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Re: Bangalore Real Estate Musings

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Could you please upload the document here for the rest of us too?
Haha, there are separate PDFs for each area, will be tough to upload them all.

Overall, if this is really the quantum of the increase, I think it's justified. At least for me, the property tax has been around the same for over a decade, that doesn't seem feasible given the rise in prices of everything else.

Again, to reiterate, I too subscribe to the sentiment- the BBMP/politicians are swallowing most of the money, so what is the justification. But things have to change.

Last edited by am1m : 23rd February 2024 at 10:18.
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Old 23rd February 2024, 11:01   #104
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Re: Bangalore Real Estate Musings

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Originally Posted by Red Liner View Post
Could you please upload the document here for the rest of us too?
Quote:
Originally Posted by am1m View Post
I tried to Kaveri portal first too, but couldn't find the information. Ended up just googling "guidance value <area name>" and found a PDF on some other site. May not be 100% accurate, or the very latest, but just wanted to do a rough estimate.
Quote:
Originally Posted by TorqueyTechie View Post
How did you guys find out the guidance value for your area? I tried searching for it on Kaveri portal but couldn't.
You can get the guidance valuation documents at this official government site for your area / city and if you are lucky, there might be guidance value at a street or complex level too. I haven't looked into these recently (post the guidance value increase), but I had used them extensively a year ago. Also iirc, the text in each of the pdfs was in Kannada but don't remember exactly.

https://igr.karnataka.gov.in/english - scroll to "Revised Guidance Values" -> to your city/area/etc.
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Old 9th August 2024, 17:31   #105
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🚨 FRAUD ALERT: Bhartiya City’s Nikoo Homes & Leela Residences - Harassment & Nightmare! 🚨

🚨 FRAUD ALERT: Bhartiya City’s Nikoo Homes & Leela Residences - Harassment & Nightmare! 🚨

I need some serious advice here! We invested in what we thought was a dream project – two 3 BHK luxury apartments (3011 & 3081) in Leela Residences at Bhartiya City, managed by the reputed Leela Hotels. But what we’ve experienced is nothing short of a horror story. Even nearly three years after OC from BBMP, from non-existent BESCOM connections to falling ceilings, incomplete amenities and endless legal battles, we're at our wits' end. The authorities are either oblivious or complicit.

We wanted to highlight the modus operandi of the developer and the potential nexus between the authorities and the developer. Here’s our story:

Background
  • Developer: Bhartiya Urban Private Limited
  • Location: Bhartiya City, Thanisandra, North Bangalore (125-acre project)
  • Project: Leela Residences – 176 luxury apartments managed by Leela Hotels
  • Attractions: Managed by Leela Hotels and claimed to be living in your own 5-star hotel. Additionally, a mall and multiplex are in the same compound.
  • This property's OC was issued in January 2022, so it's been close to 3 years. (OC is issued after the project is completed and ready for occupation!). Read below with that context in mind.



Our Nightmare

Even though none of these issues (in isolation) are severe, they are cumulative, and we failed to convince the authorities or the developer to address them.
  • Electricity Woes: No BESCOM connection for two years! We've been running on hotel power and generators. Frequent power trips and appliance damage are regular occurrences. Our electricity bill is issued on Leela Hotels letterhead with an illegal 18% GST. BBMP knows but ignores!
  • Access Road Issues: A 125-acre development does not have a proper road. The main road (is private property) and the other is a narrow back road through a village (which is also apparently litigated). We have yet to digest the blatancy that the property's access is questionable and was not disclosed. There are IG posts/videos (search "Namma Bangalore Bhartiya mall Trespassers" on Google) and a reddit post on this topic. How did the authorities permit such a project?
  • Dropping Ceilings: On Dec 31, 2023, a roof section collapsed from ten floors above and fell on the mall's pavement. See these pictures: one and two. A couple escaped by a split second.
  • Incomplete Construction: Despite having an Occupancy Certificate (which means everything is completed) that is three years old, the Penthouses in Tower B are under construction as of August 2024, and this is the condition of the clubhouse as of August 2024. Even the building facade is incomplete after three years (incomplete photo and completed look).



  • Lifts: The lifts stop working when it rains. A video shows a resident and a kid going to the 25th floor and jumping to the Leela Hotel. There were two incidents where the lift had free fall of 1-2 floors. Hearsay: the developer is skimping by not paying for an AMC.
  • Park Lies: The advertised 7-acre park has shrunk to less than half, with new office buildings encroaching. The brochure clearly states 7 acres; even on 08/08/24, Google results show the same.
  • Shoddy Materials: Windows that leak air and water (agreement promises double-glazed but worse than locally made), patched-up marble floors (promised vs actual), and fake marble counters in bathrooms (agreement promises marble counters, but the developer wants us to accept cheap plywood).
  • No Gas NOC: The apartment promised piped gas, but Gail refused due to a lack of adherence to norms. So, the condo provides gas via gas cylinders stored on the premises, which need special NOC but is not there. Both KSFES and BBMP are aware of this but have taken no action.



What We’ve Done
  • Before we purchased, we had a lawyer look through the documents. Based on the documents, everything seemed acceptable, but the documents turned out to be misleading.
  • Escalated to Developer: We sent numerous emails to the CRM team, then to CEO Ashwinder Singh, and finally to Chairman Snehdeep Agarwal. There was no substantial response, so we had to go legal.
  • Many resident owners sent a letter to management, but there was no action. Here is the letter issued over six months ago, but there has been no action so far.
  • Legal Action: Filed a RERA case (unsuccessful outcome) with all the information. The unfavourable order was in spite of RERA's Engineers report that apartments are not complete, and also recording that Developer obstructed inspection of amenities. The matter is currently with the High Court, which granted an injunction on the apartment sale.
  • Developer’s Response: Ignoring us, threatening prolonged legal battles, and trying to force us to accept subpar conditions and withdraw our cases (or face the delay in courts). (Note: they recently issued a cancellation letter on false grounds to harass us. We challenged in the high court)
Blatant apathy of authorities
  • BBMP – OC issued despite ongoing penthouse construction, no BESCOM connection, incomplete façade, flouting of firm norms, incomplete clubhouse, and pool having no OC.
  • Fire Department – how was NOC issued when norms for Gas piping and storage were not followed?
  • Lift (Department of Electrical Inspectorate) – How can lift freefall on multiple occasions if the inspection was done thoroughly?
  • RERA – How was completion status granted without a completion certificate, BESCOM sanction letter, inadequate NOC, or NOC for lifts? Even despite a written complaint, how was it ignored?
  • Leela Hotels – How did Leela Hotels lend their brand without due diligence?
Current Situation
  • Struggling with legal and mental harassment.
  • As a final resort, expose the developer on social media, hoping to make them answerable.
  • Legal cases and complaints to authorities are familiar grounds for the developer.

Please share if you've faced similar issues or have any advice on tackling such fraud. We're fighting for our homes and justice against blatant deceit and negligence.

Word of Caution

Before investing in Nikoo Homes or any other project, always request detailed specifications for materials (instead of vague terms like 'imported' or 'similar brand'), verify specifics for critical infrastructure such as road width and park size, and insist on key documents like the 'Deed of Declaration.' According to government regulations, the Deed of Declaration is mandatory when booking. Ensure that all promises the developer makes are clearly documented and legally binding. Verify access points and other essential amenities to avoid future disputes.
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