Picture life in Metropolis
A quiet clean, green world to call your own. Delightful apartments within a large, yet comfortably snug, 36-acre, self-contained enclave. With essential facilities and services right within your gates. Only 10 km from MG Road; 4 km before ITPL. In an area that is fast developing into a vibrant extension of the city; with malls, multiplexes and a growing community of young professionals.

Become a Metropolitan. Upgrade to Brigade.

Highlights
Architecture by Thomas Associates • 2- and 3-BHK apts • Luxury specs
• Multi-level parking Beautiful landscaping • Several gardens— Reflexology, Maze, Spice and Fragrant • Floral walk Amphitheatre • Club with swimming pool, sports facilities, gym • Shopping complex to accommodate supermarket, restaurant, laundromat, beauty parlour, travel counter, pharmacy, clinics, ATM, business centre • Serviced apts
• Sr. Citizens’ apts

The project half of
Bangalore has been waiting for.
A dream come true for thousands of citizens in the Malleswaram-Rajajinagar region.

A unique feature of this 40-acre enclave is that it will be accessible from two areas: One entrance is close to the sylvan surroundings near St. Peter’s Seminary, north of 18th Cross, 8th Main Road, Malleswaram. The other entrance is from Dr Rajkumar Road—the broad, uncluttered part of the road from Rajajinagar.

A range of well-planned apartments
Gateway will offer 2-, 3- and 4-bedroom luxury apartments —designed to suit a range of needs and budgets in a beautiful and self-contained enclave.

Your home will be set in a campus that includes apartment blocks, offices, a club, park, school, entertainment complex, hotel, hospital, cafes, a mall, a cineplex and other amenities—all laid out around a central 2-acre water body, to ensure privacy and open spaces.

A better quality of life
In a setting that’s both beautiful and practical, your quality of life will improve in every way: 24-hour security, water and electricity; trouble-free maintenance; conveniences close-by; a chance for the whole family to relax and socialise on “home ground”…and an invaluable sense of kinship and community.

Recent Changes to Tax Laws
The Finance Bill 2005 has proposed some significant changes to tax laws
affecting the Real Estate Sector and affiliated services like Clubs & Associations. A few excerpts are listed below.

Service Tax:
Service Tax is introduced on a 'Residential complex', having more than 12 residential houses or apartments with common areas or amenities like park, lift, parking space, community hall, common water supply or effluent treatment systems located within the premises. (This excludes a complex for construction by for personal use or for rent).

Service Tax is proposed to be levied at 10 % plus educational cess at 2 percent on 33% of the construction value and other services provided.
The one-time entrance fee and / or periodical fixed membership fee received by Clubs and Associations and charges levied on usage of facilities by members will also be subjected to Service Tax.

Residential Welfare Associations (RWAs) will be outside the purview of the Service Tax provisions when their objectives are to protect the interests of residents and take up matters with various authorities. However, where the RWA runs a club facility and charges a separate sum towards membership of the club, there would be a charge of Service Tax on such membership.

Value Added Tax:
Value Added Tax (VAT) has been introduced in Karnataka with effect from 01 April, 2005. VAT now replaces the Karnataka Sales Tax Act.
VAT is an indirect tax on consumption and resale. For the purposes of this Act, the Transfer of Property or Goods whether as goods or in some other form involved in the execution of works contract shall be deemed to have taken place in the state if the goods are within the state at the time of transfer.

VAT is calculated at 12.50% on Taxable Turnover, that is, after eligible deductions such as labour expenses from the total turnover.
Input Tax restrictions: Tax paid on goods specified in the Fifth Schedule (includes entire list of construction materials) purchased in the execution of works contract or put to use otherwise than for resale cannot be availed as input tax credit. Moreover, the goods specified in the Fifth Schedule cover all goods related to the construction industry.
In conclusion, all contracts will attract 12.50% tax. In view of the input tax restrictions for goods in the Fifth Schedule no input tax credit will be available for the tax already paid against goods purchased for the execution of works contract.

Income Tax:
The Finance Bill 2005 has proposed changes to payments made towards principal re-payments on housing loans availed by individuals and Hindu Undivided Families (HUF).

Under the proposed new Section 80C, an individual or a HUF, will be allowed a deduction from income of an amount not exceeding
Rs. 100,000/- towards principal repayments made by such individual or HUF, apart from other eligible payments.
—A. Anil Kumar, Sr GM—Finance and Co. Secretary, Brigade Group

Note: The facts presented above are correct at the time of going to print. As individual requirements vary from case to case, you are strongly advised to seek the advise of professionals / consultants before taking any investment decision.

Housing Loan Schemes

As on 23 April 2005. *Conditions Apply

• Loan amounts that can be availed depend on the housing finance institution
• Loan amount limit depends on the income of the applicant
• Security of the loan is the first mortgage of the property to be financed
• Loans can be availed from leading financial institutions
• Interest rates and EMIs are subject to change without notice, check with the financial institutions for prevailing interest rates
• Calculations are based on loan amount of Rs 10 lakh onwards