Floor Plan of Sovereign Unnathi Residential Project

This blog is all about Floor Plan of the Sovereign Unnathi residential project which located off Hormavu-Kalkere Road in North Bangalore. It is launched by one of the renowned builders Sovereign Developers and Infrastructure Limited. It has a plan to build an apartment which meets international life style. The architectural designs of the upcoming towers are based on the latest models of buildings. It is vested over on 12.5 acres of land and 26 towers with total 1600 flats. This residential project was sold within month because of its affordable pricing structure.This is an under construction project. It is going to be completed within few days and will be handed over to the customers. For more details go through the official websites of the company.

Extra VAT for Buyers of Under Construction Flat

In a recent judgment issued by the Supreme Court, home buyers who buy under construction flats should pay VAT and the ruling says, the sales of under-construction flats include works contract in the builder-buyer agreement.

In particular the state government of Maharashtra and Karnataka will levy Value Added Tax (VAT) on the builders for their under-construction properties. Though, the Supreme Court judgment says that builders to be charged with VAT, it is evident that finally the buyers have to bear the cost. Builders, who have already paid the VAT levies, will not be inflicted with any interest or penalty. On the other hand, builders who have submitted ‘Special Leave Petition’ to evade the VAT charges should have to make their VAT payments. This may upset the capital of the industry and the capacity of the builders to make such payments.

Owing to the VAT infliction, the buyers who didn’t pay VAT previously will have to face the additional cost in case if the builder have included any applicable section in the under construction agreement to get rid of the VAT charges. The state and central government is likely to allow concessions or exemptions imposed on a certain type of small residential projects in order to defend the lower middle class segment from hefty VAT burdens.

There are few facets of state VAT in favor of the builders and home buyers like the option of appealing the state VAT contribution credits to decrease the gross VAT levies and few state VAT offers easy schemes to pay the VAT dues. However, this judgment of Supreme Court to pay extra VAT has the real estate sector more intricate by challenging the task of managing funds and completion of projects.

For more articles on real estate business news go to Sovereign Developers Reviews official blogs.

A Walkthrough on Sovereign Sonaa Residential Project

Sovereign Sonaa residential project has launched few days back by one of the reputed builders in Bangalore called as Sovereign Developers and Infrastructure Limited. The project is located at prime location of the Bangalore. It is just 500 meters away from Manjunath Nagar Metro Station. It is vested on over 9.0 acres of land and upcoming with 12 towers aggregating to more than 850 Flats. The builder provides all the amenities and facilities which support a luxurious lifestyle. For more details about the apartment and the company go through the official websites and blogs of the company.

Expectations of Home Buyers from Union Budget 2014-15

Union Budget, the most substantial economic and financial yearly event of Government of India, demonstrates the frameworks of yearly economic planning. It provides a guesstimate of expenses and incomes. The budget forms the cost control for a project, operation, or program, hence all the economy sectors, as well as the real estate is awaiting the forthcoming Union Budget 2014. In India, buying a property is regarded as a breakthrough with respect to financial investments, and generally home buyers watch out for the measures taken during the Budget so that they can plan accordingly. 

Let us take a look at what the home buyers look forward from the approaching union budget 2014-15, so here are some significant discoveries made from a recent research done in top metro cities more with than 1500 home buyers:

• Many home buyers in the country want to introduce the new and eighth Fundamental Right called ‘Right to own a house’ and it was observed that almost around 90 per cent of home buyers gave a massive response by saying that owning a house should be a fundamental right of every Indian Citizen.

• Most of the home buyers strongly advised for a robust redressal forum, where the buyers who are cuckolded or who has been depressed due to delay in projects, allocation cancellations, and many other concerns.

• Though many are unhappy and frustrated with the existing state of real estate sector, home buyers expect Union Budget 2014 to be optimistic and constructive and will have a positive influence.

The real estate industry concluded the year 2013 with few positive notes such as the introduction of Land Acquisition Bill and Real Estate Regulatory Bill in the parliament. On the other hand, on a majority gauge, the home buyers continued to remain downcast and embraced the concept of wait and watch strategybecause of the high property prices and interest rates onhome loan. However, this recent research among the home buyers also revealed that almost around 90 per cent of the home buyers are disappointed and exasperated with the existing scenario in the real estate sector of the country.

For more articles on real estate business go to Sovereign Developers Reviews official blogs.

Construction Status Sovereign Sonaa Residential Project

Sovereign Sonaa is a residential apartment project that launched by Sovereign Developers and Infrastructure Limited. The project is located in North Bangalore. It is a under construction project. This video is all about the construction status of the project. There is availability of 2BHK, 3BHK and 4BHKs in this luxury apartment project. For more details regarding the price list, amenities, infrastructure and business contact etc. go to the official website of the company and video given.

Property & Asset Management to Boost Real Estate Performance

Property & Asset Management will play an immense improved role in the instant and long-term future of real estate sector with the real estate market in India growing over the past decade that has raised the attention on the quality of constructions by buyers and sellers as well.

What is Property Management & Assent Management?

Property Management: Property management ensures day-to-day operational functionality like people, place, procedures, and technology in real estate asset. It also involves designing and executing strategic management plans like vendor management, risk management, coordination and procurement of service agreements, effective human resource management and operational health and safety.

Asset Management: It is a long-term function. It includes creating and implementing strategies to increase financial returns from a real estate asset and includes increasing income streams, risk mitigation, lease management, and improvement of the utilization of the real estate in terms of benefits and monetary returns.

Significance of Property & Asset Management: 

Property & Asset Management plays a vital part in the real estate development. It is classified into three stages and they are:

• The first stage includes pre-occupancy management in which the physical plan and design is organized with the organization plan as well as targeting implementation and other functioning costs.
• The second stage is the post-occupancy management, which includes constant maintenance of both built location and implements reducing operational risks.
• And, the third and final stage involves renovation management in which the on-going services and infrastructures are reviewed to enhance the building structure.

The implementation of proficient management practices right from the pre-occupancy stage boosts a real estate asset and decreases its functioning costs. This advantageous convergence of process proficiencies and cost savings is likely as Property & Asset Management can combine several resources, competences and technologies in the development of a real estate project to accomplish the greatest potential delivery results.

Property & Asset Management (PAM) in India:

Property & Asset Management will have an important role in the abrupt and long-term future of real estate, which is performing well in the country over the past decades and the increase in both buyers and sellers becoming quality buildings centric.With professional management, most of the companies and developers have recognized the property results with cost savings, higher customer satisfaction through developed environment and better protection steps.

Subcontracting of PAM services will allow developers to focus on their main business and control the proficiency of dedicated service dealers. Developers now involve the services of International Property Consultants (IPCs) to implement PAM, which is considered as an operational tool for property,management,maintenance, and optimization. This change can be seen in the increasing number of community living who has implemented specialized property management services by IPCs.

Though, the PAM firm in India is certainly still in a budding stage, it is developing fast due to the quick development in the real estate sector. With an enormous number of real estate projects being developed in the coming years, subsequently PAM will grow as the demand for high-quality property management and maintenance will increase from the customers of these ventures.

For more articles on real estate industry news go to Sovereign Developers Reviews blogs.

Glance at Sovereign Unnathi Construction Status

Sovereign Unnathi is a residential real estate project of Sovereign Developers. It is located at prime location of Bangalore. The project is spread over 12.5 acres of land. It consist of 26 towers aggregating to more than 1,600 Flats. The construction work of the apartment is going to be completed very soon. It is provided several world class amenities like Swimming Pool with Toddler's Pool, Tennis Court, Party Hall, Club House, Departmental store, Lush green landscaped garden and more. For more details go through the video and official website of the company.