UP-RERA cancel Ansal API Project, Penalise Supertech, Mahagun

uprera-revoke-ansal-api-project-penalise-supertech-mahagun

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) imposed a fine under Section-63 of RERA against several developers and builders. The list consists names of well-known developers and others as well. Some of them are Supertech, Mahagun India, Ansal Properties and Infrastructure, and Logix Infrastructure. The fine imposed for the lack of compliance with authority orders.

Fine a totaling Rs 1.24 crore was imposed on these developers. Other developer names include Sare Saamag Realty, T.G.B. Real Estate, Nivas Promoters, Newtech Promoters and Developers, I.V.R. Prime Developers, Logix City Developers, and La Residentia Developers.

The authority ordered these developers to enforce their orders and pay the fine amount within one month, otherwise, the fine will be levied as arrears of revenue from the land.

Show-Cause Notice to Ansal API-

UP-RERA has canceled registration of Ansal API project at Pocket 4, Sector-O, Sushant Golf City. The authority sent a show-cause notice to the developer and reason to revoke the registration of their project in May 2019 for violation of the registration terms and conditions.

After considering the developer’s response, the authority puts a stay on the decision of show-cause notice. For a duration of 4 months subject to the nine conditions described in the mentioned order. The developer did not comply with the order, and the authority on 5 September 2020 ordered the developer to submit a report on compliance with its order.

After considering the response of the Ansal API Promoter dated 14 October 2020 and their oral presentations, the authority immediately decided to withdraw the registration of this project due to the violations of following rules:-

Violations by Ansal API developer-

  1. Irregularities committed during the sale of project units.
  2. The money received from the allottees without getting a sanctioned map of the project and it comes under the illegal trading practice. 
  3. The developer has not done any work in the last 9 years, that is, since 2011.
  4. The developer misuse an amount of Rs 16.03 crore received from the allottees of the project.
  5. The required compliance’s, including the QPR of the project, not presented on the authority website.
  6. They didn’t follow the guidelines of the local authorities regarding complaints from the allottees. 

The authority restricts the developer’s access to the project registration page, which is available on the authority’s website. It also froze the project’s escrow account in HDFC Bank, Hazratganj branch. Further the authority has set up a project monitoring and advisory committee chaired by UP-RERA member Bhanu Pratap Singh to facilitate the remaining project work in accordance with RERA section 8.

UP-RERA has taken this decision to protect the home buyer’s interests and ensure compliance with the provisions of the RERA Act. This is the third project of the Ansal API that has been de registered by the authority.

Hearing Option is available-

UP-RERA also decided to allow the parties a physical hearing option from 1 May 2021, subject to strict compliance with the Covid-19 Protocol, where applicable. The parties not allowed to change the physical hearing option after choosing it.

The Authority reviews complaints virtually through the electronic legal system, taking into account the need to include Covid-19.

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ORERA Fines Two Realtors for Violations of RERA Act

Ghaziabad Development Body asks Residents to vacate Alaknanda Towers

ORERA Fines Two Realtors for Violations of RERA Act

ORERA in its order said that the developer must pay a fine of 20 lakh within two months. Otherwise strict action would be taken in accordance with the law.

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has issued orders imposing a fine of two separate developers of 20 lakh each for breach of various aspects of the Odisha Real Estate Regulation and Development Rules 2017.

Advertising without registration- 

In its one order, ORERA slashes Rs 20 lakh fine on a developer for breach of Section 3 of the Act. This act states that developers may not reserve, offer to reserve, sell or advertise their properties without registering such projects with ORERA. Any violation in this regard carries a fine of up to 10 percent of project costs, the law says.

ORERA has booked the case and said in its current order that the developer applied for online registration in December 2019. For a project in the village of Bhubaneswar at Rudrapur, but without getting permission of registration. They started putting up hoardings and advertising in the city and other parts of the state. In January 2020 they advertised properties online as well.

ORERA in its order said that the developer must pay a fine of 20 lakh within two months of the order, otherwise strict action would be taken in accordance with the law.

Firm did not issue sale agreement-

In its another order, ORERA charged a real estate firm Rs 20 lakh, for failing to issue a sale agreement with a home buyer. The buyer has paid a booking amount of Rs 11 lakhs for a property located near Fire Station Square, Bhubaneswar. ORERA placed this order in response to a complaint by the buyer himself.

Sources said that in December 2017, a buyer reserved the property and paid the reservation amount of Rs 11 lakh, and received an allotment letter. The buyer then requested a sales agreement. After which the developer emailed a document that was not in the correct format. When the buyer objected, the developer refused to listen, after which a complaint was filed.

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Chandigarh Housing Board (CHB) to Auction 110 Residential Properties

chandigarh-housing-board-CHB-to-auction-110-residential-properties

A CHB senior official said the property had been empty for years and deteriorating as well. Since CHB could not auction this property for many years, it was decided to auction this property in stages.

Chandigarh: Council officials have begun the auction process for 110 residential properties. Following the completion of the auction process for 110 residential properties (self-owned properties), the Board of Directors will begin the auction process for 150 commercial properties (leasing) and 11 residential properties (rental) next month.

Auction through E-Tendering-

According to the official, the property will only be put up for auction through e-tendering. CHB recently lowered the reserved price of this property by 9-20%. CHB’s proposal was also recently approved by the Chandigarh administration.

The reserve price was reduced by 10-20% after seeing the low response to CHB’s attempt to put the property for auction last year. These 270 properties are located in sectors 51, 63, 38 (west), 39 and Manimajra. Among the properties, 51 new apartments are being offered at auction, which has been part of the most expensive CHB housing project in the city. In addition, the commercial properties are also situated in Manimajra, Sector 51, 61 and Maloya that will be put up for auction.

A senior official said the property had been empty for years and its condition was also deteriorating. Since CHB could not auction this property for many years, it was decided to auction this property in stages.

Flats Offered at Varied Price Range-

After registration with CHB, interested parties have 10-15 days to apply for the auction.

For the real estate auction, the board has already set the base price of HIG apartment (rent) in sector 39 at Rs 1.05 crore. Likewise, the reserve price for the three-bedroom apartment in sector 63 was set at Rs 86.24 lakh. The price of a two-bedroom apartment in sector 51 is between Rs 80 and 84 lakh respectively. 

The reserve price for a 1 BHK apartment was set at 39.37 lakh and for EWS it was 24.35 lakh in Sector 49. Likewise, the reserve price for a 2 BHK apartment in sector 49 was set to vary from 69.86 lakh to 71.25 lakh. Taking into account the location of the floor.

The base price for a 2 BHK apartment in sector 63 is set at 67.29 lakhs. The base price for HIG (rental) apartments in sector 45-A is set at Rs 1.06 crore. Likewise, the price of a restaurant in Manimajra is also Rs 2.58 crore. The reserve price for a small corner stand (booth) is set at 97 lakhs.

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No compensation if agreement doesn’t provide for it: TNRERA

no-compensation-if-agreement-doesn't-provide-for-it-TNRERA

CHENNAI:  The Tamil Nadu Real Estate Regulatory Authority (TNRERA) said the home buyer would not be entitled to compensation after accepting the promoter terms and conditions that rule out for delay in delivery.

The case concerns a contract without a construction contract between the builder and the buyer of the house, and the brochure does not contain details about the reason for late possession of that apartment. The section in the brochure on construction delay states that if construction is delayed for any reason, no interest or compensation is paid.

Agreeing with terms, the prosecutor made an application for allotment of the dwelling unit. Consequently, the claim for compensation for the delay is not substantiated, said G. Saravanan, bailiff at TNRERA.

Possession without Car Parking

A housing project in the city was carried out by the non-profit organization i.e, Indian Railway Welfare Organization. 

The prosecutor, one of the leading members of the organization, demanded an allotment. Although the project launched in 2006, ownership given in 2019 without a car parking facility. The prosecutor requested compensation for the lack of open parking and delayed delivery of apartment.

Countering this, the developer denied all allegations, saying the delay was due to permits from local agencies. The permits from these local bodies or agencies were not in his control. According to the developer, the prosecution had no right to require open parking as it was optional and subject to the availability of land.

No Compensation-

TNRERA said- After hearing the views of both parties, TNRERA advised that no amount was charged for car parking space. The prosecutor also did not opt for an exclusive parking space either. In light of the circumstances, it cannot be said that the prosecutor had suffered any mental agony. Hence, the prosecutor was not entitled for any compensation.

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Ghaziabad Development Body asks Residents to vacate Alaknanda Towers

ghaziabad-development-body-asks-residents-to-vacate-alaknanda-towers

The Ghaziabad Development Authority (GDA) has expressed concern over the miserable condition of a multi-storey Alaknanda Towers in Vaishali. The authority has recently asked residents of the apartment to leave the building immediately until the retrofitting and renovations works completed. 

In a letter dated March 6 to Alaknanda Towers Resident Welfare Agency (RWA), GDA Chief Engineer WN Singh said that Rs 3.5 crore would be needed to complete the renovation. As the agency owns some of the apartments, it is willing to pay some part. The letter also stated that RWA is fully responsible in the case of an adverse event.

Building is structurally strong-

Specifically, Ghaziabad Municipal Corporation (GMC) declared Alaknanda Towers, which has 10 floors and 79 apartments, dangerous in August 2018. GMC had said the residential complex is not safe for the residents but also for people living nearby. Thereafter, the Faculty of Engineering department at Jamia Millia Islamia University conducted a safety audit of the tower in 2019. The report said the building was structurally solid but required maintenance and retrofitting work. 

However, the residents’ bodies of the complex are outraged by the GDA letter. They said the repair work was to be conducted by the authorities themselves. As the maintenance of building was not handed over to RWA, the GDA denied this claim, which was done in 2011 in the presence of RWA officials.

RWA challenged GDA-

Amit Kumar, RWA official, said, The building is constantly deteriorating and the GDA will be completely liable for any mishap or loss of life. We have also questioned the GDA stance in Allahabad High Court and also lodged the complaint with the State grievance redressal portal. If the maintenance was outsourced to RWA, how did the authority set up a fire-fighting in the apartment? Recently, it also advertised an ad for unsold flats in the society. The GDA tower has approximately 23 flats.

RWA also challenged the GDA’s claim maintenance: “Through RTI, we receive a delivery note, without any official seal and not even done with a GDA letterhead. Our RWA was first established in 2015.”

Meanwhile, a senior GDA spokesman said RWA has two options. “Either they pay for the retrofitting and maintenance work. Or they should make an agreement with a builder to construct a new tower with a higher FRA. Thus, the developer will receive additional floors to sell and the owners will receive new flats for free. 

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56,000 Applications to Convert Agricultural land to Non-Agricultural use

56000-application-to-convert-agricultural-land-to-non-agricultural-use

Gujarat: The State Government Revenue Department received about 56,000 applications over two years, 2019 and 2020, to convert agricultural land to non-agricultural use.

On Saturday, Kaushik Patel, state revenue minister provided this information. In response to a series of questions from the MLAs in Congress in the on-going budget session of the Gujarat Assembly.

In 2019 and 2020, according to a written response in the assembly, it was requested to convert 57.73 crore square meters of agricultural land for other purposes. The government gave permission to convert 13.47 crore square meters of agricultural land in 2020 and 16.80 crore square meters in 2019.

In his written responses, the Minister informed the Assembly about the revenue from this process. The State Government received revenue of Rs 1,152.33 crore in 2019 and Rs 899.95 crore in 2020. This revenue generated by giving permission to convert agricultural land to non-agricultural land in 2019 and 2020.

Hence, this implies that out of 57.73 crore square meters of land, the government has already given permission to convert about 30.27 crore square meters of agricultural land for non-agricultural use and the permission is given during the year 2019 and 2020. If the process of application continues like this, the State government’s Revenue Department can issue permits to convert more agricultural land for non-agricultural use.

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YEIDA Begins Registry of Residential plots Launched in year 2009

YEIDA-begins-registry-of-residential-plots-launched-in-2009

The department took further compensation from us for payments to farmers. Since 2009 I have spent approx. Rs 74 lakh as land premium and interest. However, the Yamuna authority’s petition against the Allahabad High Court decision is pending before the Supreme Court.

Greater Noida: After 12 years of gap, the Yamuna Expressway Industrial Development Authority (YEIDA) has begun the registration process of creating a registry of residential plots for sectors 20 and 18. 

Launched in 2009, pockets and blocks in two sectors have evolved over the last three years. About 11,000 of the 21,000 residential plots identified and the registration process for over 6,000 plots has already begun. The development is nearing completion in blocks J and I in sector 18 and blocks A, B, C, and D in sector 20. Work is continuing at full capacity in blocks R, S, T, and U in sector 20.

YEIDA is located approx. 15 km from Pari Chowk in front of Jaypee Sports City. It has completed approx. 5,500 registrations in two sectors. Authorities plan to implement another 2,500 registrations by March 31. Meanwhile, representatives of buyers associations in the Yamuna area have submitted a six-point demand to the authorities before making more registries of the plot.

Problems with Allottee-

But more people who received plots after registration are still facing difficulties because of a petition in the Supreme Court. A doctor from Faridabad said.- “The department took further compensation from us for payments to farmers. Since 2009 I have spent approx. Rs 74 lakh as land premium and interest. However, the Yamuna authority’s petition against the Allahabad High Court decision is pending before the Supreme Court. Until a decision is made, there is no way we will be able to start the construction process in our block.”

Safal Suri, a member of the association said.- “The problem is that after the registration is completed, the allottee gets three years of time period to complete the construction. Further fines are imposed for delay. Farmers’ problems in sector 20, pockets C, D, R, S, T, and U, have not been resolved yet. And construction work cannot be completed until the issues are cleared up.” “The result of the petition was expected. But soon we are holding camps to resolve problems in specific blocks and making physical possession easier to allottees. We want people to settle in the Yamuna area as soon as possible.”

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Maharastra: About 1,000 Cidco plots up for grabs over next 12 months

about-1000-cidco-plots-up-for-grabs-over-next-12-months

At a time when the real estate market is in the midst of the pandemic, Cidco’s offer could be a blessing for those seeking plots for bungalows, row houses, and major development over the next year. The planning agency is deciding to auction about 900 plots in a period of the next 12 months.

Plot auctioning is a profitable deal

Over one month the Cidco had earned nearly around Rs 1,100 crore from auction of residential plots. In February, it received a record rate of 2.63 lakh per square meter bid for a plot in Sanpada. The auction of residential plots in Navi Mumbai will help Cidco to raise significant funds. Thus assisting with its innovative and upcoming projects. Cidco aims to raise over Rs 400 crore in a month from the auctions of these plots. 

In January, Cidco auctioned 26 plots for bungalows and a 66 sq mt plot in Ghansoli. And this generated a huge profit for Cidco. This auction brought in as much as Rs 1.30 lakh per sq mt, while the normal price for plot in Ghansoli ranged from 30,00 to 34,813 rupees per sq mt. Likewise, a plot of approx. 208 sq mt in New Panvel (E) sold for Rs 1.09 lakh per sq mt. However the base price for a plot in New Panvel was Rs 39,000 per sq m. 

Cidco will now auction several plots in Navi Mumbai in the upcoming 12 months. During this period, approx. 1000 plots, of varying sizes from 40 sq mt to 4000 sq mt are expected to be offered. Of these, Cidco has reserved around 200 to 400 plots for Bungalows of varying areas from 30 to 400 sq mt. Officials from Cidco have said the largest plots ranging from 1,000 sq mt to 1 hectare are in demand by builders. 

Benefit of Cidco Plots-

The plot bidding of Cidco offers several benefits and is good for various reasons. Plots with MMR titles are very few and are rarely available, however plots listed in the Cidco auction have clear ownership and MMR titles. MMR titles provide information related to the plots like when the plot was acquired, registration date, etc. Apart from this, different infrastructure projects are about to launch in Navi Mumbai which enhances the connectivity of this locality. 

Sanjay Mukherjee, Cidco vice-chairman and managing director said. “Cidco about to bring out a large stock of small plots that need to be handed over to small real estate developers so, that they can enter the market in difficult times. Also, it is the best opportunity for a middle class to own a bungalow.”

Manohar Shroff, vice-president of MCHI-CREDAI Navi Mumbai unit, said. “The feedback of the auctions was good since Cidco has raised its ancillary FSI. Builders are pricing these plots high and offering larger homes. It is beneficial for CIDCO as well as builders.”

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Delhi Govt reduces Home Loan Interest and Circle Rates

delhi-govt-reduces-home-loan-interest-and-circle-rates

The Kejriwal government gave Delhiites another gift along with reducing the circle rate. The government has lowered the interest rate from 7.45% to 6.75% for availing residential loans. These interest rates are much lesser than the rates offered by private banks. 

There is great news for people who dream of purchasing a house in Delhi. The Kejriwal government has cut circle rates by 20%. In addition to this, the interest rate on the loans has been reduced by 1%. With this decision, the circle rates of different categories including residential, industrial, and commercial properties in Delhi were reduced by 20%. This reduction is valid for next six months only. 

Arvind Kejriwal, Chief Minister, Delhi, said- “We are gradually progressing and recovering from the economic and financial loss during the pandemic. The Delhi government is taking all essential steps to reduce the strain on the pockets of common people. Considering this, the Delhi government has decided to reduce the circle rate by 20% in the public interest.”

Reduction in loan interest rate

The Kejriwal government gave Delhiites another gift along with reducing the circle rate. The government has cut down the interest rate from 7.45% to 6.75% for availing residential loans. These interest rates are much lesser than the rates offered by private banks. With this decision, it will be easy to repay the installment every month. Earlier people had to pay an installment of Rs 803 per month per Rs 1 lakh. After reducing the mortgage rates they only have to Rs 760.

The decision helps in recovery of real estate sector- 

The Delhi government acknowledged that the pandemic had a major impact on the nationwide economy. Different business sector particularly real estate sector has experienced an unprecedented recession. During COVID-19 period, millions of construction workers had lost their jobs. Now it’s the time to strengthen the real estate industry and to generate job opportunities. Therefore, the Delhi government hopes that this decision by the Delhi Cabinet will help in recovering the real estate sector for long term. 

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SBI, HDFC, Kotak Offer Lowest Home loan Interest Rates!

banks-offer-lowest-home-loan-interest-rates

Over the next few days, the home buyers can get great deals with minimal interest rates on stamp duty relief, offers, home loans, and the availability of options from good developers. We are already seeing that the demand for residential real estate has recovered. Also consumers are now accepting that it’s the best time to buy real estate.

Major financiers, including the State Bank of India (SBI), Housing Finance Corporation (HDFC), ICICI Bank, and Kotak Mahindra Bank, are expected to bring home loan interest rates down to record highs. It is expected that lowered interest rates will boost housing sales. 

HDFC, the country’s largest private mortgage lender has lowered the interest rate on home loans from 6.8% to 6.75%. The rate cuts announced just days after banks such as the Kotak Mahindra Bank and SBI announced rate cuts.

In recent days, SBI has offered a discount of 70 bps with an interest rate of 6.7% and onwards for a limited period. This offer will discontinue at the end of March.  

Kotak Mahindra Bank also announced that it will lower mortgage rates by 0.10 percentage points for a limited period. Customers will be able to take advantage of a 6.65% mortgage loan until 31 March as part of a special offer following the interest rate cut.

Banks aim to attract clients for home loan before the end of the financial year. The lower interest rates on home loan have expanded better buying opportunities for home buyers.  

For several days the real estate experts demanded that banks should transmit the advantage of lower repo rates to consumers. The real estate sector has benefited enormously from historically low mortgage rates in addition to momentary reductions in stamp duty in some states.

Experts opinion on Low Home loan interest rates- 

Developers believe that lower home loan rates expected to increase demand for housing sector.

Pritam Chivukula, Secretary, CREDAI-MCHI and Co-Founder, Tridhaatu Realty said. “The favorable interest rate environment is likely to persist for some time. It is unexpected that interest rates will fall beyond the current level. Over the next few days, the home buyers can get great deals with minimal interest rates on stamp duty relief, offers, home loans, and the availability of options from good developers. We are already seeing that the demand for residential real estate has recovered. Also consumers are now accepting that it’s the best time to buy real estate.”

Ashok Mohanani – President, NAREDCO Maharashtra said. “The desire to own a home is already growing. As consumers see it as a necessity in this unfamiliar era of the COVID-19 pandemic. In order to take advantage of stamp duty, there has been tough competition among financial institutions over the last few days to provide consumers with the best mortgage rates. These factors are helping to stimulate the demand for real estate that was temporarily affected by the pandemic.”

Jayesh Rathod, Executive Director, The Guardians Real Estate Advisory said. “Lowering mortgage interest from major banks will certainly increase the real estate demand significantly. Currently, the lowest interest rates ever, below 7%, are inspiring consumers to buy property quickly. Low interest rates are also attracting more and new customers to the market. The purpose of the low-interest rate is to accelerate economic growth in the country which ultimately increases consumption.”

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Ascendas India Trust to acquire Industrial Project in Chennai

ascendas-india-trust-to-acquire-industrial-project-in-Chennai

Ascendas Property Fund Trustee, curator of Ascendas India Trust (a-iTrust), has signed a forward purchase agreement with Casa Grande Group. According to this agreement, they will acquire Casa Grande Group’s first industrial plant in Mahindra World City, Chennai. The company announced this deal in a media release. 

The project is an industrial plant with a net leasable area of approx. 0.42 million square feet. It is pre-leased to Pegatron Technology India, a wholly-owned subsidiary of Pegatron Corporation, with a 7-year lock-in period and annual hikes. 

a-iTrust will also offer funds for the development of the project under the Forward Purchase Agreement. It offers to fund the development of the project on the completion of certain circumstances. One of them is, it will acquire 100% of the shares of the entity that develops the project.

It also has the opportunity to offer more funding for the development of industrial amenities. These industrial amenities will be approx. 0.37 million square feet, subject to lease and other conditions to be met. Construction expected to complete in mid-2021.

The preliminary effect of the proposed acquisition for the financial year 2020 per unit distribution (DPU) became 0.04 Singapore cents. The acquisition of this industrial property will increase the size of a-iTrust’s committed portfolio by 1.8% from approx. 22.8 million square feet to approx. 23.3 million square feet.

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HC asks Panel to verify list of Affordable Flats built by Hiranandani Group

HC-asks-panel-to-verify-list-of-affordable-flats-built-by-hiranandani-group

In February 2012, on a PIL, the high court ordered Hiranandani to build about 1,511 apartments of 40 sq mts (430  sq ft). And 1,592 apartments of 80 sq mts (861 sq ft) before starting any further construction.

On Wednesday, the Bombay high court ordered a committee to find out how many flats built by Hiranandani group. In the Powai Area Development Scheme following its 2017 order, giving it time to complete construction.

The order by Chief Justice Dipankar Dutta and Judge Girish Kulkarni was passed at Hiranandani’s request for an extension of the October 2017 deadline. To complete construction of four wings of Castle Rock, five wings of Regent Hill, three wings of Atlantis, and two buildings.- Sorrento and Maple.

PIL aganist Hiranandani-

In February 2012, on a PIL, the high court ordered Hiranandani to build about 1,511 apartments of 40 sq mts (430  sq ft). And 1,592 apartments of 80 sq mts (861 sq ft) before starting any further construction.

A group of activists Kamlakar Satve, Rajendra Thacker, and Medha Patkar filed a PIL and said, Hiranandani signed a lease of 230 acres of land in 1986 in a tripartite agreement. with the state and the MMRDA to build affordable housing. However, the petitioners claimed that the apartments combined into 4,000 to 5,000 sq ft apartments and sold at higher prices.

At the request of the developer, HC in October 2017 granted a deadline of June 2021 for completion of construction. It also set up a committee to review the developer’s approval. The developer sought cancellation of the postponement and a major extension of the deadline from January 2022 to June 2023. It cited Covid-19 as the reason for the delay.

Hiranandani’s Senior advocate, Milind Sathe, said, most of the apartments were ready, but the balance could not be restored due to the pandemic. Further, he said, in October 2017, approximately 886 apartments of 80 sq mt left unconstructed. Of these, 844 flats built, 43 remained. Out of 1,511 flats with an area of 40 sq mt, 403 were built.

Gayatri Singh, Sumedha Rao, and Mihir Desai, petitioners’ advocates–disputed the facts and figures. They claimed that the commercial construction made in breach of the 2012 order, and even after October 2017, they consolidated and sold the apartments for which BMC had issued a notice in 2020.

The judges then reconstituted the previous committee and ordered it to visit the site and report back two weeks later. “Find out if all the numbers are correct,” the Chief Justice said.

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Govt. to issue Rs 625 crore for pending Amrapali projects by next week

govt-to-issue-rs-625-crore-for-pending-amrapali-projects-by-next-week

On Thursday, the Supreme Court informed that SBI Capital’s fund of Rs 625 crores will finally be issued by next week to finance six pending projects by the real estate company Amrapali. So, to ensure the delivery of apartments to home buyers.

The Supreme Court Panel, chaired by Judge Uday Umesh Lalit, listened to petitions filed by many Amrapali property buyers in Noida and Greater Noida after failing to receive their home on time, as promised by the developer. 

The Housing and Urban Development Corporation (HUDCO) has also today demonstrated its willingness to fund Amrapali projects on specific terms and conditions. The High court asked lawyer M.L. Lahoty, for their opinion on the same by next morning. MR. M.L. Lahoty is a lawyer who has spoken on behalf of many home buyers, and Noida/Greater Noida authorities. 

In addition, the High Court today rejected application from the Economic Offences Wing (EOW). EOW has requested to share all initial information reports (FIR) in Uttar Pradesh to the Delhi police in this case. But the court made it clear that other enforcement issues arising, in this case, continue in the court. And the hearing will be carried on tomorrow morning.

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Noida Authority taking Action against Builders for Delaying Registry of Flats

noida-authority-taking-action-against-builders-for-delaying-registry-of-flats

Noida authority intimidated to take action against developers who offered properties to buyers without a registry of flats.

The Noida Authority conducted an inspection or checked 18 housing societies and found people living in them for 4-5 years without a registry, leading to a loss of revenue for the state government.

Noida Authority conducted a meeting with developers- 

Several developers including Mahagun, Imperial housing, Supertech, Prateek realtors, Aims max, Antriksh developers, and Sikka attended the meeting.

The authority has given 3 months to complete the registry. And is organizing a camp with the help of revenue and tax department to ease the process. It has also said that instead of paying dues immediately, the developer can pay the dues at the time of registry of apartments.

In the meeting the authority said- “Builders need to complete paperwork in March. The Real Estate Regulatory Authority  (RERA) was also asked to take the necessary measures in this regard.”

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ETS Machines Will be Used for Land Survey in KATIHAR

ets-machine-used-for-survey-in-katihar

The ETS machine is capable of measuring land parcels in a few minutes. One can measure the width, length as well as locate the land and the distance to it, within a radius of 18-20 km.

KATIHAR: Farmers will soon be able to get land registration information such as ‘khatta’, ‘khesra’ and ‘chauhaddi’ (land boundary) with a single click. The complex procedure for measuring land boundaries is now an old thing. As the Electronic Total Station (ETS) simplifies the land measuring task. 

Survey admins, kanungo inspectors, settlement officers, and other community representatives in the district are happy with this decision. Some have said it will be a game-changer for land-related issues such as registration, mutation, land sales, and other land-related problems.

What is an ETS Machine and how it works?

The ETS machine can measure more than 40 land parcels with 100% accuracy within a radius of 18-20 km.

To start the survey or measurement process, the land border of three villages taken into account to form a tri-junction. Then a prism kept at the center of this tri-junction. A powerful beam is released from an ETS machine standing on the circular dividing line between two villages. The beam hits the prism, which returns to the machine. 

The beam returning after hitting the ETS machine provides exact distance, width, length, and other information of land. The machine works at night and even in the rainy season. 

Brajkishore Sadanand, District settlement officer said- “The ETS machine is capable of measuring land parcels in a few minutes. One can measure the width, length as well as locate the land and the distance to it, within a radius of 18-20 km.”

An officer said- “While the survey method is being carried out, the prism is carried by the ETS operator and two spotting workers. An agency in southern India, which previously conducted aerial survey work, has been tasked with conducting a ground check. In this ground check, the company will collect several information related to land.”

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Why Pune Cantonment Board (PCB) is Sealing Properties?

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Why Pune Cantonment Board (PCB) is Sealing Properties?

pune-cantonment-board-sealing-properties

We have already given sufficient time to defaulters to pay the dues. We have issued notice to them and if they do not pay the dues by 5 March, then PCB will seal their properties under the Cantonment Act, 2006.

The Pune Cantonment Board (PCB) has decided to seal the properties if the defaulters fail to pay property tax by 5th March 2021. According to a PCB official, the board has already sent notices to more than 240 people. Most of them are owners of hotels, clothing stores, and other types of commercial shops. 

What traders said?

Traders and businessmen said that a legal dispute between former tenants and owners is one of the main reasons for the tax delay. Some property owners have debts of a few crores and are unable to pay due to lack of business last year because of pandemic. Therefore, they resorted to partial payment.

According to a PCB official- 

The PCB expects to collect around Rs 38 crores from over 12,000 property tax defaulters. However it has collected about 18 crore so far, currently they are left with limited revenue sources of income and real estate tax is one of them. Some owners have paid some part of property tax however they hope to recover 100% from them. 

Amit Kumar, PCB’s CEO, said- “We have already given sufficient time to defaulters to pay the due tax. We have issued notice to them and if they do not pay the dues by 5 March, then we will seal their properties under the Cantonment Act, 2006. Their property will remain sealed until we get the pending dues.”

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3.17 lakh PMAY-Gramin houses are not completed in Rajasthan

rajasthan-3.17-lakh-PMAY-G-houses-are-not-completed

According to a report by the rural development department, approximately 3.16 lakh houses are incomplete under Pradhan Mantri Awas Yojana-Grameen (PMAY-G). Barmer district has the highest number of such houses i.e, 49,121, Banswara comes second with 33, 815 incomplete houses. Jodhpur with 21,837 ranks third in terms of incomplete houses.

According to data of the Rural Development Department, the construction of 13.33 lakh approve houses under PMAY-G completed from 2016-17 to 2020-21.

Even after 12 months of approving the first installment of funds, 79,437 houses still not completed. After 9 months of approving the first installment of fund, 86,425 houses are yet to be completed. After 6 months of approving the first installment of fund, 1.77 lakh houses still not completed.

In Jaipur, out of 13,455 authorized houses under PMAY-G, about 11,000 houses have been completed and 2,408 houses are still incomplete.

Rohit Kumar Singh, Additional Chief Secretary (ACS) of the department has ordered all district collectors to complete the remaining 3.17 lakh houses. Those houses should be complete at the rate of 4,768 houses per day by 31 March. (These directions issued on 15 January 2021).  

Wages hike- 

After 2 month of ‘Pura Kaam, Pura Daam’ movement in the state under MGNREGA, the wage rate in the Rural Development Department selected district has risen to Rs 196. A department official said, the average wage rate had risen from Rs 169 to Rs 193 in the first fortnight of the movement. In the third fortnight, the campaign covering more than 20 different activities. The fourth fortnight would cover all the activities under the scheme.

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Rajasthan Govt. Reduces Stamp Duty and DLC Rates!

rajasthan-govt-reduces-stamp-duty-and-dlc-rates

Lower DLC rates improves the demand. Earlier, when a consumer bought a flat of up to 50 lakh, he/she had to pay a total of 8.7% stamp duty. But now, after the reduction, the buyers will only have to pay a total of 5.7% stamp duty including other taxes. Hence, this will definitely boost morale of the affordable home buyers. 

To increase the demand of the developers in the state, the CM declared a reduction in stamp duties on residential units in multi-story buildings. The stamp duty has been reduced from 6% to 4% and is valid till June 30, 2021. However, this benefit is only applicable to buyers who purchase an apartment of Rs 50 lakhs.

The government also reduced stamp duty for EWS and LIG category. Under the Affordable Housing Scheme, the stamp duty for EWS and Low Income Group (LIG) has been reduced to 0.50% from 1% and 2%. 

Builders, buyers, and developers have praised the government’s move to lower DLC rates in the state. The reduction is unlikely to bring a substantial change in market conditions. It is expected that reducing DLC rates improve the demand and give better leverage to deal-making. 

After the pandemic, the demand for housing under EWS and LIG categories has increased at a fast pace. The reduction in stamp duty will definitely boost morale of the affordable home buyers. Additionally, this government initiative will provide capital gains tax relief for the entire sector, on property valuations that are below the DLC in many areas.

Expert opinion- 

Gopal Prasad Gupta, Rajasthan Credai chairman also appreciated and welcomed this government approach. He said- “During the pandemic and lockdown period, the stamp duty increased to 6% from 5% as a result both consumers and the real estate industry faced a downturn. The total stamp duty has gone up about 8.7% including 1% registration fee and 30% other taxes.”

Earlier, when a consumer bought a flat of up to 50 lakh, he/she had to pay a total of 8.7% stamp duty. But now, after the reduction, the buyers will only have to pay a total of 5.7% duty including other taxes. Hence, this not only reduces the overall cost of an apartment but also benefits buyers financially. 

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600 Plots Offered Near Upcoming Jewar Airport

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600 Plots will be Offered Near Upcoming Jewar Airport!

600-plots-will-be-offer-near-upcoming-jewar-airport

The authority said, the number of offered plots could increase because it would also include the surrendered plots. After the approval of a film city and agreement of Jewar airport, the land prices on the Yamuna Expressway have risen at a fast pace. 

Yamuna Expressway Industrial Development Authority (Yeida) is about to offer approximately 600 plots at Greater Noida near the Jewar airport. The scheme will be launched after getting approval from the Real Estate Regulatory Authority (RERA). 

About plots- 

Yeida will offer several plots of varying sizes from 60 sq-m to 4,000 sq-m and the price of plots start from Rs 11 lakh and goes up to Rs 6.6 crore. This scheme will be launched once Yeida gets approval from the Real Estate Regulatory Authority (RERA). Plots will be assigned to the relevant people through the lottery system. With the plots valued at Rs 16,400, the authority wishes to generate a total capital of Rs 400 crore from this program. 

Payment Tenure- 

The allottee can pay the entire amount of plot in one go or in 10 installments. Five years is the minimum time period to pay the installments. 

The authority said, the number of offered plots could increase because it would also include the surrendered plots. After the approval of a film city and agreement of Jewar airport, the land prices on the Yamuna Expressway have risen at a fast pace. 

Also check:- plots in Yamuna Expressway

Arun Vir Singh, CEO of Yeida said.-“The demand for plots near the upcoming Jewar Airport is really high and we are receiving several queries regarding plots. We have filed for the RERA approval on Friday and expect to get it in one or two days.” “The candidates will get one month’s time period to apply for the scheme and have to submit 10% of the total plot amount in advance. Three types of payment modes are given to allottees and the process of draw will begin in mid-April”.

RK Arora, chairman, Supertech Ltd, said.-“The prices of plots near Yamuna Expressway have also risen in the last few months. We have two integrated urban areas on the Yamuna Expressway and are witnessing a great demand for plots from investors”.

Manoj Gaur, CMD at Gaurs Group said.- “We started work as soon as the government allowed construction activities to begin after post lockdown and that will ensure timely delivery”.

Gaurs Group also has an integrated township near the upcoming Jewar airport. The township is receiving a great interest from the homebuyers as well as investors. 

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Delhi-NCR Witness Increase Demand for Affordable Homes

Good News! Delhi-NCR Witness Increase Demand for Affordable Homes

delhi-ncr-witness-increase-demand-for-affordable-housing

The demand for affordable housing in Delhi-NCR cities, specially Gurugram contributed 32% of the entire demand. Between 2018 and 2020, more than 79,830 economically priced apartments launched in Delhi-NCR. Out of this, almost 50% falls under the affordable priced region.

For the past few years, the real estate sector is passing through a tough phase. But now, with the improved demand and supply, the sector is gaining momentum particularly in Delhi-NCR area. The demand for affordable housing was the highest during the pandemic situation. Apartments costing under Rs 45 lakhs are especially in great demand. 

Anarock Survey-

According to a survey conducted by property consultant Anarock, the affordable houses accounted for 30% of the demand in the year 2019. The demand was about 40% in the year 2020 which is almost a 10% increase. Around 38% of the total economical housing demand across the country was from Delhi-NCR. Kolkata was second with 21% in terms of demand.

Also, the demand for affordable housing in Delhi-NCR cities, specially Gurgaon contributed 32% of the entire demand, which was followed by Greater Noida (24%).

Further, the survey shows that between 2018 and 2020, more than 79,830 economically priced apartments launched in Delhi-NCR. Out of this, almost 50% was in the affordable priced region. It should be noted that the last twelve months has observed 18,530 models, of which 61% are affordable housing.

According to the Affordable Housing Policy Amendment, 2013, now one parking for each housing unit is free, which means that the buyer will get the additional facilities without paying any additional price.

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Delhi Govt. disburses Rs 3.18 crore to 488 construction workers!

delhi-govt-disbursed-3.18-crore-to-construction-workers

181 construction workers received claims under the maternity scheme. 131 workers received claims under the education scheme. 51 under the pension scheme, and about 52 workers under the funeral and death scheme.

On Thursday i.e, February 18, the Delhi government donated Rs 3.17 crore to 487 construction workers under several welfare schemes. The cheques handed over to the recipients by Manish Sisodia (Deputy Chief Minister and Labour minister) at an event held at the Delhi Secretariat. 

Manish Sisodia considered and eased the grant-giving process for construction workers. It applies to those who are registered under the Delhi Building and Other Construction Workers Welfare Board.

Deputy Chief Minister said:- “It is the government’s duty to provide assistance to those in need. “Delhi government is always available to the needy people. Every construction worker in Delhi, whether a contractor or a laborer, should have faith that my government always stands with them in difficult times. The people of Delhi should have such level of confidence in the government.” he further added. 

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Delhi Government disburses money under different types of schemes

181 construction workers received claims under the maternity scheme. 131 workers received claims under the education scheme. 51 under the pension scheme, and about 52 workers under the funeral and death scheme. Those who comes under such category schemes but didn’t receive the claims need to call on 1076 number. A government official from the department would come to their home to verify documents for the registration process.

After the registration, the applicants can receive approximately Rs 34,000- Rs 50,000 for the marriage of their son or daughter. About Rs 2,00,000 for accidental death, Rs 1,00,000 for natural death, and Rs 1,00,000 for disability. Around Rs 500- Rs 11,000 for education purpose, Rs 2000- Rs 10,000 for healthcare, Rs 30,000 for maternal healthcare, and approximately 10,000 rupees for final rites. 

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Fire department Seals Malibu Town’s Club in Gurgaon!

fire-department-seal-malibu-town-club-in-gurgaon

The fire department has closed a residential society club for non-compliance of fire safety standards. On January 7, the fire department inspected Malibu Town, during the inspection, no fire control system was found in the town club.

“While conducting an inspection, no fire control system was found at the building of Maple Club in Malibu Town. The department had also issued a deadline to the developer for installing the system. But he failed to install the system within given time period.” said an official from fire department. 

Problem with Maple Club-

On January 7, the fire department inspected Malibu Town in response to a complaint by a resident named Raman Sharma. During the inspection, no fire control system was found in the town. Considering this, the fire department, on January 12, issued a notice to the developer. On February 12, officials from the fire department conducted another club inspection, but the fire system was not installed despite the notice. 

As a result, the fire department sealed the Maple club for violation of fire safety standards. And approached the Gurgaon police to lodge an FIR against the developer. 

Isham Singh Kashyap, Assistant Divisional Fire Officer has described the condition of club-

Maple club is a part of the residential building, specially designed for social gatherings. However, the condition of this club is not good and its basement was found to be in a poor condition. Such type of negligence from Malibu Real Estate not only violates the terms and conditions of the Haryana Fire Service Act. But it is also a threat to the lives of people. So, we have requested the Gurgaon police to lodge an FIR against the developer. 

In November the town and country planning (DTCP) disapproved the township’s completion certificate for failure to complete construction of community sites. Out of 16 approved community sites, only 11 sites have been constructed according to the building norms. 

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Property Details in Haryana will be Digitized of all Cities- Anil Vij

haryana-government-to-digitise-property-details-of-all-cities

The properties in different cities will have unique ID numbers, thus imposing limits on invalid registries. Also it will restrict the fraudulent practices with regard to category and area of properties. 

Anil Vij, Home and Urban Local Bodies Minister, Haryana said- 

Chandigarh, Haryana:- On Wednesday Mr. Anil Vij said, the goal of the state government is to digitize the property information of all cities. Survey of about 87 urban bodies is about to be completed in this regard. Data of more than 8 lakh properties in 41 cities has been digitized. 

Benefits of property digitization- 

As per an official statement these digitized properties will have several data. Online data for these properties is available with geographical location along with several other details. The details will include address, name, mobile number, category, region, ID number and owner’s photo. 

The residents of these cities will be able to approach the closest landmark with their property picture, description of property and a drone image of their property. As it will be located geographically, thus one can access the property details by clicking on property tax management system claims/objection portal. The portal was launched by the Minister on Wednesday. 

The properties in different cities will have unique ID numbers, thus imposing limits on invalid registries. Also it will restrict the fraudulent practices with regard to category and area of properties. 

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Notice issued to 30 Residential towers in Gurugram!

show-cause-notice-issued-to-30-residential-towers-in-gurugram

More than 20 residential property owners have been served a show cause notice for doing commercial activities. They were violating some important building norms and were doing commercial or business activities on residential premises. 

The department of urban and country planning has found several properties in un-authorized colonies. They are located at Uppal Southend on Sohna Road and Palam Vihar. The owners of these properties were found to be involved in commercial activities from residential buildings. 

The department has cautioned the owners of the specified buildings, either to obtain mandatory permission that applies in the event of unobtrusive activities in the permitted area, otherwise to stop the activities immediately.

RS Batth District town planner said, the property owner told to submit their answers before falling in their office that the process of sealing will be initiated against them. 

However, there are some activities, which come under the non-nuisance category. The property owners can seek permission for such type of activity from the department.

What is Show Cause Notice?

A show cause is a type of court order that requires justification from one or more parties to prove something to the court. Generally, these orders issued when a judge needs more clarification before deciding whether the party who requested the order correct or not.

The person to whom the notice has been issued must clearly state in court all the points raised in the notice. Otherwise, the court can punish him, if the person found responsible for the misconduct.

Officials point of view- 

A show cause notice has been given to 10 building owners at Uppal Southend on Sohna Road as they were doing business activities. They were running CA offices, dental clinics, guest houses, beauty parlors, etc. through residential facilities. The gates were built on the inner streets of the society. A resident has lodged a complaint against it on the CM window. Considering these aspects notices were served to concerned people. 

Similarly, in Palam Vihar, about 23 property owners were given notices for doing business activities. As per norms of legalized colonies, no commercial activities can be conducted from residential buildings. 

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Christie’s International Real Estate Comes India

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DDA Receives 30,979 Applications for Housing Scheme!

DDA-receives-30979-applications-for-housing-scheme

DDA in its 2021 housing scheme is offering flats in different locations like Jasola, Dwarka, Vasant Kunj, Rohini, and Manglapuri. According to a report, there are 255 HIG (higher income group) flats on offer. The DDA has now stop receiving the application and Tuesday was the last day of submissions

On Tuesday i.e, 16-02-2021, the Delhi Development Authority received approximately 30,978 applications for the 2021 Housing Scheme offering 1,350 flats. The DDA has now stopped receiving the application and Tuesday was the last day of submissions. According to a senior DDA official, they have received payments of only 19,973 applicants out of the total applications. 

About New DDA Housing Scheme- 

DDA in its 2021 housing scheme is offering flats in different locations like Jasola, Dwarka, Vasant Kunj, Rohini, and Manglapuri. According to a report, there are 255 HIG (higher income group) flats on offer. The majority of HIG flats situated in Jasola. 

A total of 13 flats are on sale in Vasant Kunj, at different price ranges. The price of flats in Vasant Kunj starts from 1.42 crore and goes up to 1.73 crore. The price of Pocket 9B flats in the HIG (higher income group) category starts from 1.97 crore and goes up to 2.14 crore. 

Majority of MIG (middle income group) flats available in Dwarka sector 19-B, approximately 350 MIG category flats available in Dwarka Sector 19-B. 347 flats in Dwarka Sector 16 and a total of 4-5 flats in Vasant Kunj. 

277 EWS (economically weaker category) flats are for sale in Dwarka’s Manglapuri area. 

About Deadline-

There is no plan of extending the deadline, a DDA officer said to a reporter. 

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