VALUATION OF PROPERTIES – A BANKER’S VIEWPOINT

VALUATION OF PROPERTIES – A BANKER’S VIEWPOINT

Whenever a customer approaches Bank seeking credit facilities from the Bank, invariably securities are insisted upon. Sometimes, loans are sanctioned on the worth of movable assets and advances are collaterally secured by evenhanded or straightforward mortgage of lands/buildings. Typically facilities extended by one Bank are taken by another Banker, not solely with regard to the previous securities given by the purchasers however with respect of the assets generated out of Bank’s finance.

In essence, valuation of the properties is an important operates within the day-after-day disposal business of the Banks.  Even to shield the assets charged to the Bank or funded by the Bank, insurance policies need to be taken and for that purpose additionally valuation is required.

Usually, the worth of a property depends upon the materials of that it’s created of, the age of the property, the geographic location, the surrounding developments, the neighborhood, etc.  One necessary issue that contributes to the worth of a property is that the clarity of title of its owner and also the encumbrances riding on that.

Some folks have a conception that a appraiser want solely to require care of the fabric and placement facet and it's not his orbit to appear into the title facet of it. However the conception isn't correct because the title to the property incorporates a touching on its valuation.  A property infested with long-drawn litigation or varied claims won't actually, fetch the worth it'd have otherwise got with a transparent title.  Similarly, a property occupied won't be able to command a similar worth if it's owner occupied, since the buyer should pay right smart quantity of cash and additionally time to induce vacant possession of the property.  Thus, possession of the property is as title thereto whereas inward at its worth.  Hence, whereas crucial the worth of a property, the appraiser ought to detain his mind the devolution of title, the particular possession of the property, varied claimants over it like minors or court orders adversely affecting possession and title to the property.

A valuer, whereas assessing a property, ought to ascertain the custody of the first title deeds to establish the likelihood of evenhanded mortgages over the property.  Discreet searches within the Sub-Registrar’s workplace, Taluk/ Municipal Offices and also the Offices of assorted Township/Development Authorities that have an effect on the native administration of the property for ascertaining whether or not the property is constructed on any reserved space or prohibited space or the likelihood of a buying deal by regime – of these factors have an effect on the valuation of the properties.

In one instance, once the valuation of the property was done by one appraiser for ‘X’ Bank, another appraiser of a similar Bank seen a similar set of documents were deposited with another establishment and also the aforementioned establishment has already place a similar property for auction.  Such things will happen once there are made-up set of documents given as security.

In another incident, it happened that aside from being multiplicity of establishments claiming to own taken mortgage of the property, there happened to be multiple persons bearing a similar name as patron and once the Bank determined to require possession of the encumbered property, they may not do therefore because the identity of the property which of the owner of the property couldn't be tallied because the person speculated to have encumbered the property denied even having gone to the Bank in question and lodged a police report.

Apart from such risks in identity of property and its holder, the appraiser should be additional careful whereas submitting his report on valuation. tho' it's necessary for the appraiser to enquire concerning the genuineness of the owner of the property and also the property in question, he ought to submit his report back to the involved authority, ideally head to head or with ample care to avoid interpolations.  In one instance, a Bank entrusted the valuation of secured property to its empanelled appraiser however later it transpired that the particular valuation and also the report on valuation accessible to the involved authority varied terribly wide and iniquity was suspected.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law

DELIGHTFUL EXTERIORS TO BUILDING

DELIGHTFUL EXTERIORS TO BUILDING

Treating the facade of a built structure with accessories can beautify an ordinary exterior turning it into a visual delight. Cladding is one treatment that can transform a wall from just a vertical feature to something of character form and proportion in any home. Normally, the front part of a building receives treatment as it is the part visitors are greeted with. Where a building is situated in a large estate and is open to view from all sides elevation treatment can be given to the whole exterior.

Very often there are multiple uses for accents. For instance when a concrete or brick wall is covered with flamed or polished granite, the wall is protected by the hard stone, maintenance costs are reduced and it increases the elegance and splendor through the elevation. If it is desirable to decrease the feeling of expansiveness and hardness of this material one can have grooves and striations to divide the whole into smaller parts. There can be colored grouts or metal strips such as brass to produce an effect and to create a focus on framed areas. Differently colored granite will induce interest and lessen the dullness of a solitary material.

For an ethnic feel clay tiles can be used to clad walls with a theme running through the entire home. One can utilize translucent glass blocks to form a wall that is used at the entrance and leads into an enclosed, dimly-lit space giving privacy. Simple doors and windows are made into special openings through the treatment of fenestration. The shape and size of the frames and shutters, the security grills and the chajjas lends a visual decorative quality.

Though they are flat traditionally, when they are sloping they can change the architectural face into a traditional or Grecian one if decorated with a pediment and pilasters. An appealing extra is a window box for plants. The garden is elevated to eye level where it can be seen and gives an accent to the opening with lovely greens and flowers. The grills usually of cast iron or mild steel or aluminum can be very ornamental for traditional style or simple and smart for contemporary homes.

When the built form is dynamic through the alteration of profile heights or a varied mixture of solids and voids or through combining flats and slopes accents are possible. The illumination should create a play of shadows making the simple facade into a splendid one.

Pillars, patios, pergolas and water bodies can be distinct pieces or merged with the building. Design languages with foreign elements such as skylights, dormer windows and a faux fireplace can add drama. You can treat these particular items in a different way to give them an emphasis thus upgrading their effect. For impact use textured paints.

Ornamental eaves for sloped roofs, moldings and cornices along walls and ceilings, and creepers growing up stone walls are some ideas to add to the outer design plan. Mosaics and murals, exposed brick walls and artifacts can also be incorporated. Accents should be used moderately to add refinement.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

DEFINING NECESSITY OF AN APARTMENT SOCIETY

DEFINING NECESSITY OF AN APARTMENT SOCIETY

In Bangalore, rapid growth of the Apartment culture is seen for the last five years. Now-a-days the educated people generally opine that owning an Apartment is safer than an independent house.

After the hectic day in office or business, one would like to socialize for some time. In such case, Apartment living offers excellent opportunities for group living with a diverse culture.

Object of the society:

The motto behind forming the society is to build harmonial relations with a bond of common habit and common usage and inculcate the fellow feelings, which itself transforms into a new community wherein they live as each is for all and all for each. Further such societies are also necessary for maintaining Electricity, Water Supply, maintenance of lift, Security, Cleaning of the premises, Parking, Collection of Garbage, preserving various statutory and accounting records. Apart from this, the society also looks after affairs, which includes economic betterment and social welfare.

Constitution of the society:

After completion of the construction of an Apartment, Owner of the flats/residents of such apartment, form an association, to take care of the needs of the residents and maintenance of common facilities. The society must consist of minimum of 7 members. In addition to the above, Managing Committee should consist of at least one or two lady members for effective governance of the society.

Mandatory registration of the society:

After formation of such societies, the same has to be mandatorily registered under the Karnataka Apartment Ownership Act or Societies Act. Since most of such societies are functioning without getting it registered, it is advisable to register in order to give legal sanctity and clarity for their activities.

Participation of the members:

The members of the society should actively and jointly participate in casting the vote for appointment of the members to the Managing Committee.  They should participate in every General Body meeting and appoint the Managing Committee members who are honest, disciplined, duty conscious, and hard working. Generally, retired officers are preferred to be employed as the Manager of the said committee, as the presence of the aforesaid aspects and qualities are essential to run the Society efficiently who can carry out their duties at the best of their abilities.

The members of the managing committee should not have the impression that they are the landlords of the Society. Further, they should also not dictate their own terms and conditions or their say in the Society but have to keep in mind that they are the respected persons duly appointed by the members of the Society to look after the interest of members of the Society.

The following points are required to be covered in their bye-laws in order to practically sort out issue, which may arise now and then such as:

1. The administration of every property shall be governed by bye-laws, a true copy of which shall be annexed to the Declaration.  No modification or amendment to the bye-laws are valid, unless set forth in an amendment to the Declaration and such amendment is duly recorded and a copy thereof is duly filed with the competent authority.

2. The bye-laws shall provide for the following matters, namely:-

a. The election for the  Board of Managers should be among the apartment owners and that the terms of at least one-third of the members of such Board shall cease  annually; the powers and duties of the Board, the compensation, if any, of the members of the Board, the method of removal of the elected  members from the office of the Board; and whether or not the Board may engage the services of a Secretary, a Manager or Managing Agent, and specifying which of the powers and duties granted to the Board by this Act or otherwise may be delegated by the Board to either or both of them;

b. Method of calling meetings of the apartment owners; what percentage, if other than a majority of Apartment owners, shall constitute a quorum;

c. Election of a President should be from among members of the Board of Managers and he/she shall preside over the meetings of such Board and of the Association of Apartment Owners;

d. Elected  Secretary  should keep a minutes book wherein resolutions shall be recorded;

e. Elected Treasurer should keep the financial records and books of accounts;

f. Maintenance, repair and replacement of the common areas and facilities and payment therefore;

g. Manner of collecting from the apartment owners their share of the common expenses;

h. Designation and removal of persons employed for the maintenance, repair and replacement of the common areas and facilities;

i. The method of adopting and of amending administrative rules and regulations governing the details of the operation and use of the common areas and facilities;

j. Such restrictions on the requirements respecting the use and maintenance of the apartments and the use of the common areas and facilities not set forth in the Declaration, as are designed to prevent unreasonable interference with the use of their respective apartments and of the common areas and facilities by the several apartment owners; and

k. The percentage of the votes required to amend the bye-laws.

3. The bye-laws may also provide for the following matters, namely:-

a. Subject to the provisions of this Act, provision for regulating transfer or partition of any apartment and percentage of undivided interest in the common areas and facilities appurtenant to such apartment, subject to such terms and conditions as may be specified in the bye-laws;

b. Provisions enabling the Board of Managers to retain certain areas of the building and lease to non-residents for commercial purposes and for distribution of resulting proceeds to the apartment owners as income or application thereof in reduction of their common charges for maintaining the building; and

c. Any other provisions, not inconsistent with the provisions of this Act, relating to the audit and accounts and administration of the property and annual and special general meetings, annual report and the like.

These guide lines are the golden rules which are required to be followed for the smooth functioning of the apartment societies. The duty also lies on the co-owners of the apartment to duly co-operate and coordinate with the functioning of the society which in turn contributes for their peaceful enjoyment.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

DRAFT DEVELOPMENT PLAN

At any conferences, seminars, discussions or at meetings the only statement that is commonly made is “Bangalore is the fastest growing city in the country, in Asia or in the World”.  No doubt it is time that this is the fastest growing city, whether we should appreciate it or we should curse ourselves for this unwarranted ugly unplanned growth is a point that worries every one. So far all the plans, if any, have been totally flouted. No building byelaws have been followed; no law governing the growth has been respected. However with industries, multinational companies coming in, people from everywhere have found Bangalore to be their destination for earning their livelihood and thus Bangalore is growing. There has been unscientific growth all around, occupying the available land whether agricultural or non agricultural.  There have been large scale encroachments on Government lands and the stage has reached when nothing can be done to set right the things.

Now Government has come out with a comprehensive development plan for the Metropolitan City of Bangalore through French consultancy services.  What are the guiding principles, if any, in this exercise involving crores of rupees is not known? One thing appears to have been disclosed is, it is a plan for the next ten years, i.e. till 2015.  This so called ‘CDP 2015’ has been displayed by Bangalore Development Authority for Public viewing at the city’s youth centre viz. Yavanika. People are visiting in 100’s and 1000’s. A common man can hardly make out any thing.  The maximum that a common man does at the exhibition is tries to find out, after a couple of hours searching, his place or his site. For what purpose this search is not known.

For a common man it is not possible to know about the ultimate purpose of the CDP.  What the basic idea behind the plan and why for ten years!  Well, it is only for the planners to explain and convince the common man.  What a common man in Bangalore wants is – good roads, jam free traffic movement, well organised and on scientific basis the city’s public transport system, open spaces and gardens, good school buildings, market places, adequate water supply, efficient drainage system and so on, and not just the plan for the next ten years of which one year is almost over.

Various major infrastructure works are in progress now.  What is needed is the works are completed expeditiously as per schedule and not to talk or debate on future plan.  Bangaloreans are aware of the slow pace of execution of the various infrastructure works like the International Airport, Metro rail, some flyovers etc.

What is required in the circumstance is that the authorities concerned should periodically give the status reports about the works in progress about the schemes already planned and are yet to be taken up.  The delay in completion of the works affects the citizens and the business community.  If there is a delay in completing the flyovers and the roads connected with those flyovers the shop keepers, business establishments have to face loses apart from inconvenience.

For any growth, planning is necessary but any such plan should be in the interest of the common man and for the benefit of the citizens.  If the plan is made keeping in view the immediate need and executed in time and on schedule it would be more in the interest of a common man.

The CDP 2015 provides for large scale industrialisation, large scale population influx from all over, without any indications of halting the expansion.  If such planning continues we may all see the city of Bangalore with a radius of 100 Kms, i.e. Tumkur, Mysore, Kolar all becoming part of Bangalore City.  No thought is given while preparing the present 2015 plan about the developments of other cities like Belgaum, Hubli-Dharwar, Mysore, Gulbarga and Mangalore.  The other cities have been deprived of their basic needs and their developments.  Bangalore means the entire state or the state means Bangalore that is what a common man feels.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

Decorating Home Interior

Decorating Home Interior

Interior Decoration art is not an elusive and impossible one to learn or acquire. And also it is not expensive so that more money is consumed, with some basic and fundamental tips and ideas, one could proceed without any hesitation or fear the great art of decorating. The only requirement possesses a sense of selecting apt colors and placing things among proper structure, design and color combination.

If you are a keen observer, then use your keen sense of observation to cultivate your knowledge of interior decorating and increase your awareness of how color and light, line and form and space and material shape our world. The first step to start any decorating project is taking an objective inventory of what you already own, the way you seasonally review the clothes in your closet, access the furnishings in your rooms.

Whatever the time projection for decorating your home - three months, six months or longer, you need to make a work-in-progress plan and set of series of reasonable goals. This simple written plan will help you remain on track.

Always balance practically with panache. In decorating terms, panache is that personal touch you give the ordinary, by turning it into something uniquely your own. Adding fringed shades to an average chandelier; placing a casual wicker rocker next to a prized antique or daring to paint walls a dramatic fuchsia when everything else is being are a few examples of how to personalize your surroundings with your own dash of panache. And the best thing is that this 'panache' or does not have to be expensive. A vast variety of wall finishes, wall textures, motifs, wallpapers, borders and price ranges can also add beauty and drama to the rooms without breaking your bank account!

Giving change a chance requires patience and trust. Just remember that all change even for the better requires a period of adjustment. Put your mind at ease about a few decorating misconceptions the most common one being that because your home is on the smaller side of your decorating budget is small, you will not able to create a luxurious ambience.

Many people who have small apartments have open and spacious looking interiors because of the right colors of veneers and lamination, along with the right selection of wall paints and fabric colors. And their interiors have achieved a stylish and chic look at a budget which doesn't bum their pockets. They are not deprived of living in a stylish house everyone dreams of.

Try some of these gender friendly tips:

For Master Bedroom:

• Keep floral prints to a minimum.
• Use contemporary versions of a floral rather than a traditional bouquet motif.
• Combine floral with more gender neutral patterns, such as stripes.
• Choose a handsome geometric design.
• Use solid colors and rely on textures instead of pattern to make a statement.
• Select simple tailored treatments for beds and windows.
• Paint or paper the room in deep rich tones rather than in soft pastels. 

For Kitchen:

Clean lines, open spaces, neutral colors and maximum accessibility to cabinets and drawers are integral to a kitchen's design. They not only make for a charming, contemporary style kitchen but provide easy access to utensils and worktops for residents who are wheel chair bound.

Living Room Grandeur:

1. Cover the frame in a solid and the seat and back cushions in a print on top only. Then you can reverse the cushion for a solid look.
2. Using three co-coordinating fabrics, cover arms with one, back and front with second and seat and cushions with the third.
3. Try mixing textures, leather and tweed for a casual look. 

For dining or occasional chairs:

• Cover the front in a solid or print the back in a check.

• Cover the seat in a solid and wrap the back in a different solid or coordinating stripe.

• Alternate fabrics on individual dining chairs.

Perfect Texture:

Texture in a home is conveyed through the look and feel of the fabric, furniture and finished surfaces of walls and floors. Texture refers to the smoothness or roughness of a material. Furniture texture refers to a variety of materials used in constructing furniture, wood, glass, wrought iron, wicker, upholstery.

Surface textures are the materials used to cover floors and walls: wood, tile, stone, brick, carpet, wall covering, paneling or paint in smooth, rough, glassy or matte finishes. Using texture to enhance a room's design.

Rough textures: suggest casualness and informality reduce the appearance of ceiling height or wall expanse. Make color appear darker. Help to disguise dirt and dust.

Smooth textures: Suggest luxury and formality. Increase the appearance of ceiling height or wall expanse. Reflect more light and make color appear lighter. Reveal dirt and dust. Discover for yourself the satisfaction of decorating your home on your own terms - smartly and simply.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

Construct your dream home

Construct your dream home

Home-building is not just building a structure built with brick and mortar. But it is something more. It includes decoration, furnishing, styling and designing of the building. Each room, starting from kitchen to bedroom and living room to bathroom, must be well arranged and equipped. Wide variety of accessories and items that suits each room is available in the market. Home building includes renovation of traditional homes into modern ones.

Home building is an art where you make a simple space converted into perfect and comfortable living space. Before constructing a home you must have a plan about the building structure, design and decorations. Apart from these aspects people look to the vaastu sasthra, and feng shui aspects and your house should conform to this requirement as well. If you have children then there comes the question of childproofing your home. Each room of your home must be well equipped, designed, and decorated according to your taste and requirement.

There are many options like luxury homes, modern home, contemporary home, etc. The most important thing of home building is the plan. You must have a clear idea of your requirement-whether be it small or big a house. If you need to get a stylish and beautiful home then you need to do minute thorough homework. You must choose the style ranging from traditional to modem ones that suits you well. After selecting the style just check with the colors that matches the style. Everything must be doubly checked.

Nowadays there is wide variety of furniture from traditional ones to latest ones. If you like traditional ones then go through the web sites or magazines and choose the one that suits your home. There are building designers who can help you. The designers will do according to your taste.

Decoration makes your home a real one. It is no secret that all homemakers, architects and other professionals related to home building industry find new ideas to make their work unique. From time immemorial, people plan and construct beautiful homes. Nowadays there are many facilities which can make your dream come true. You can find eminent architects, engineers, and contractors who can give you their best work. There are many magazines, websites and books which tell you and show the best plans and you may choose the plan which most suits you. Garden is an essential part of homes. Everyone loves to have a garden space. You can have a perfect garden along with beautiful and stylish homes.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

Color that enliven office

Color that enliven office

People tend to splash a lot of color in their homes but offices are kept on a subdued note. Or they may go to the other extreme and make the office a garish profusion of childlike coloring. Workplace colors should be refined and subtly introduced. Different vibes belong to different colors. Red, yellow, orange and brown have a warm aura while colors such as blue, green, pink and violet have a pacifying effect. The area, function and size of the space should decide the shades selected for the office.

Wall paints, furniture, lamination and furnishings are the canvas on which the color effect may be created. Neutral hues such as beige, grey, black and cream are most commonly chosen. A combination of grey and blue goes well for a balanced effect but experimenting a little with different shades may lend your office a unique look.

Different areas in the office should be demarcated according to their use, such as the reception, lobby area, lounge, cubicles, pantry, private cabins and the boardroom. The entire ambience of the workplace can be transformed through a judicious choice of cheering shades.

When somebody first visits your office the first impression they will get will be from the reception area. Sunshine yellow is an enlivening color for the background of this space and the company logo and name plaque can be displayed on the wall behind the front desk. If yellow is present, a tinge of orange will give a vibrant look. A fresh feel is imparted by a mix of yellow and orange.

Red combined with grey or beige may deepen the aura although alone it may have a disturbing effect. The reception area should not be done up in white or it will result in a lifeless appearance. If white must be used at least one bright color should be added on it to make it lively. The walls and floor could be embellished with bright objects.

Most of the employees spend their time in cubicles, so this place needs to be decorated in tranquil shades. Bright blue, maroon, magenta or purple combined with cream, grey or white will exude a positive glow. The place will gain openness and spaciousness. If it is a vast, extensive area you should have color coding with sectioning to have an appealing effect. Three shades of the same color or two cool colors and a single matching warm color will lighten up the atmosphere.

For the private cabin, a sober color, touched by bright green or navy blue in an accessory or wall frame will reduce some of the monotony. A board room in white with luxury chairs in rosewood or cherry color will give an opulent yet subtle look. Red upholstery will match well with this. The color gold used in brass planters, gold-plated chair backs and gold rimmed wall frames will add a regal touch to the board room.

As long as the element of 'serious business' is maintained, colors can be utilized to give energy to the work space. Employees will be enthused to perform at their highest level of creativity and a gentle yet motivational appeal will be imparted to the office decor.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

Books at Home

Books at Home

A collection of Books is a treasure trove for the entire family. The children grow with them. Elders find enlightening moments whenever they browse through its pages. Taking care of them is as important as using them.

Whatever may be the advancements in the field of information technology, where enormous information is crammed into CDs and multimedia packs, books retain their own slot in the dissemination of knowledge? Reading habits are to be inculcated among children. Most of the people, though they may not be in the habit of regular reading, always make it a habit to buy books, whenever the chance arises. Arranging them in order is very important. In order to make the books more accessible, they might be displayed prominently in the living room or family room. This not only encourages active reading habit amongst the members of the household, but also adds an interesting dimension to the usual decorative knick- knacks.

For the bibliophiles and serious collectors, library editions, rare books and author signed copies are some of the books that are good for putting on display. On the other hand, a wide range of subjects such as fine arts, photography, interiors, travel, history, philosophy, biographies and many more branches of knowledge form an eclectic collection, that proclaims the good taste and varied interests of the collector. Adding a few visually appealing books such as, coffee- table books with their decorative jackets and colorful plates will add to the variety.

Open shelves, end tables, and cabinet tops can be used to display books. Coordinated book sets such as reference books, encyclopedias, atlas, etc., are more suitable for open shelves while books with decorative jackets are apt for end tables. Decorating interiors with books is gaining a lot of popularity and some websites and book stores even offer books in great numbers.

If the collection of books is more for a display an exclusive bookshelf to hold them will be the best alternative. One could invest in a bookcase made of wood or metal that has a glass front, which protects the books from dust while at the same time allows the books to be viewed from outside. Instead of arranging all the books vertically and stacking them against one another, the books could be spaced out and arranged in different styles to break the monotony. To get a more attractive display, different arrangements on each shelf could be made. One could also use picture frames, curios and other collectibles to make the exhibit more striking.

A couple of books on accent tables, in attractive baskets on end tables, placed vertically on a shelf at the entrance, all add interest and warmth to the decor, but it should always be better to ensure the look remains uncluttered. Some bookmarks should be kept handy in an attractive ceramic bowl or tray and then the look is complete. Arranging books and family photographs to fill any empty comer wi 11 also create an interesting look.

Bookends are a useful accessory which could further add interest to book arrangements. Bookends should always be selected in proportion to the size of the books that they support. Ornate or carved, animal figurines such as horse. elephant, odd shapes, book ends in wood, iron, marble, stone, bronze or brass all add up to the visual appeal to the decor.

Safeguarding the Books:

After having acquired such valuable collection of books, spending precious energy, time and money, it is important to take utmost care of the collection of books. It is advisable to store books in a constant temperature environment, preferably 20 to 24 degrees Celsius. High humidity can cause moulds to grow and damage the books, while low humidity can affect the glue in the book bindings. A relative humidity of 45-55 percent is considered to be ideal. Exposure to too much light and dust should also be avoided.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law 

APARTMENTS AND FLATS

APARTMENTS AND FLATS

Apartment:

Karnataka Apartment Ownership Act 1972, defines apartments as follows:  “ A part of the property intended for any type of independent use, including one or more rooms, or enclosed spaces located on one or more floor (or parts thereof) in a building, intended to be used for residential purposes, with direct exit to a public street road or highway or to a common area, leading to such street, road or highway.

Penthouse:

Pent house is a very expensive and comfortable apartment or set of rooms built on the top of a tall building with vacant space in front.

Duplex House:

A type of house divided into two parts with two separate homes in it, upper and lower. An apartment with rooms on two levels is called as Duplex house.

Building as per Karnataka Apartment Ownership Act:

Building means a building containing four or more apartments or two or more buildings each containing two or more apartments of all such buildings and comprising a pair of the property.

Common expenses:

Common expenses means

•  All sums lawfully assessed against apartment owners by the Association of Apartment owners.
• Expenses of administration, maintenance, repair or replacement of common areas and facilities.
• Expenses agreed as common expenses by the bye-laws.
• Expenses declared as common expenses by the provisions of Karnataka Apartment Ownership Act or by the declaration or the bye-laws. 

Common profits:

Common profits means balance of all income rents, profits, and revenues from the common areas and facilities remaining after deducting the common expenses.

Promoter:

Promoter is one who constructs or causes to be constructed a block building of flats or apartments for the purpose of selling the same or all of them to other persons or to a company, co-operative society or others.

Flat:

According to flat Ownership Act 1972, the flat is different from apartment, though n common usage both similar, Flat is described a separate and self contained set of premises, intended to be used for residence or office or showroom or shop or godown, and includes a garage, the premises forming a part of a building. The apartment has to be used only for residence.

Apartment owner:

Apartment owner means the person or persons owning an apartment and undivided interest in the common areas and facilities in percentage, specified and established in declaration.

Deed of declaration:

Deed of declaration is an instrument by which property is submitted to the provisions of Karnataka Apartment Ownership Act 1972. It contains description of land on which buildings is constructed, details of building like number of stores, number of apartments, description of common areas, and limited common areas etc.

For More..........:

Advocate Selvakumar

Legal Articles

Property Articles

Legal queries

Property Documentation

Property registration

Purchase of property

Stamp duty, Mortgage

Apartments

Transfer of property

verify property

Lawyers

Bangalore advocates 

Civil law