Think India Foundation

Water at dirt cheap rate for builders

Gurgaon : At a time when the city is reeling under an acute water crisis, the Haryana Urban Development Authority (Huda) is busy selling water to private developers at dirt cheap rates.

To make matters worse, the authority has been claiming that it doesn’t have enough canal water, which is supplied to New Gurgaon localities such as DLF City, Sushant Lok, Southcity and Huda sectors. Read more

Source : www.hindustantimes.com

DLF Phase 3 residents protest water shortage

Gurgaon : Irked over the inadequate water supply, a large number of residents and members of the residents’ welfare association (RWA) of DLF City Phase-III staged a protest against the Haryana Urban Development Authority (Huda) and DLF Estate Developers Ltd. at Moulsary Avenue Road on Monday.

Carrying banners and shouting slogans, the residents blocked both sides of the road in DLF City Phase-III, causing a traffic jam for nearly an hour. Read more

Source : www.hindustantimes.com

GDA to implement schemes for urban poor

LUCKNOW: Training their eyes on the urban poor this time, the Ghaziabad Development Authority (GDA) has approved 29 proposals that are expected to benefit the Economically Weaker Sections (EWS) and farmers residing in the region.

According to an announcement made by the GDA vice chairman Santosh Kumar Yadav, the latest proposal entails a payment of Rs 3500 per sq metre, equivalent to 6% farmers of the developed plot, from the total acquired area. According to existing plans, GDA will also enforce an existing affordable housing scheme, under which builders will allot 10% of the total flats constructed to Low Income Group (LIG) and EWS families. Read more

Source : timesofindia.indiatimes.com

Mumbai takes the lead in green housing projects

Mumbai : Quicker govt clearance is drawing more developers to plan environment-friendly buildings.

More green residences are coming up in Mumbai over the past couple of years  since the state has made it easier for these projects; higher costs may not be an issue much longer. 

According to experts with the Indian Green Building Council (IGBC), of the 2 billion square feet of green construction projects across the country, a quarter are registered in Mumbai. Read more

Source : www.dnaindia.com

BRTS drives land rates up 50% on Iskcon-Bopal stretch

Ahmedabad: After the skyrocketing rates it witnessed in the last couple of years, realty sector in Amdavad has not seen much movement for about a year now. However, the announcement of high density corridor along the BRTS route and proposed Metro corridor in the new development plan (DP) by Ahmedabad Urban Development Authority (Auda) has infused some life into the realty market at least in residential zone-II (R-II). 

 

Land prices in R-II zone on the stretch from Iskcon Circle to Bopal have appreciated by 65%, reveal nearly half a dozen realty deals that took place recently. In the new DP for Ahmedabad, the development authority has provided more construction area by raising the floor space index (FSI) limit from 1.2 to 4. This means that a developer can build a 40,000-square metre area on a 10,000 sq m plot now. “Real estate projects have become more viable along the corridor because of higher FSI,” said Neeraj Tomar, head of Ahmedabad operations at Jones Lang LaSalle. Read more

Source : daily.bhaskar.com

Jaipur Development Authority seeks govt nod for vertical growth in Jaipur

JAIPUR: The Jaipur Development Authority (JDA) is all set to provide relaxations in norms for multi-storey buildings that is expected to provide benefit to the big developers in the city. A proposal for amendments in the building bylaws has been sent to the state government. 

According to the proposal, multi-storey buildings on a plot size of 1,000 sq metre to 2,500 sq metre with height up to 30 metre to 40 metre can be constructed after leaving 9 metre setback. However, according to existing building bylaws, for a 30 metre to 35 metre-high building, the developer has to leave 11 metre setback area, while for 35 metre to 40 metre-high buildings, 12 metre setback area is required. Read more

Source : timesofindia.indiatimes.com

LBT will lead to corruption, Credai Chairman says

MUMBAI: Opposing the Maharashtra government's decision to impose local body tax(LBT) in lieu of octroi, developers' apex body CREDAI Chairman Lalit Kumar Jain said the new levy will result in rise in corruption and be detrimental to business as well as consumers. There is a potential threat of it becoming breeding ground of corruption. 

Jain, who is also the chairman and managing director of Kumar Urban development Limited, said the government should instead raise VAT to compensate for octroi. Read more

Source : timesofindia.indiatimes.com

Lodha group hopes customers will bite at top end of market

The developer is busy promoting its World Towers project that it claims will be the tallest residential building in the world

Lodha group says nearly 60% of the World Towers project has been sold. Photo: Sanjay Borade/Mint

Mumbai: Lodha Developers Ltd, which specializes in upscale apartments for the super rich, is busy promoting a tower in Worli in Mumbai that it claims will be the tallest residential building in the world, ensuring that residents are situated far above the urban snarl after having paid around Rs.12.5 crore for the privilege.

The breathless tone of the advertising for World Crest may not necessarily convince those who can afford such accommodations. Read more

Source : www.livemint.com

Himachal to allow FDI in realty

Shimla (IANS) : The Himachal Pradesh government has decided to allow foreign direct investment (FDI) in realty for developing new satellite towns near Shimla, Solan, Dharamsala and Mandi, Town and Country Planning and Urban Development Minister Sudhir Sharma said here Monday.

"We have decided to develop new satellite towns near Shimla, Solan, Dharamsala and Mandi towns by allowing foreign direct investment (FDI) in real estate," Sharma told IANS. Read more

Source : www.newstrackindia.com

Illegal constructions on rise in Rajahmundry

Rajahmundry: The rapid urbanisation in the last decade has paved way for more construction activity, particularly in urban and in adjacent areas to municipalities.

Picture for representational purpose only.

It is said that deviations are said to be playing a very key role from the original plan approved and in some cases this activity is being carried out as there is no fear of action on the part of the authorities. It is learnt that personal interests of some of those at the helm is leading to continuation of this mode unabated. Read more

Source : www.deccanchronicle.com

Tata’s new residential project in Bhubaneswar

The gated community, christened Ariana, will offer one, two and three BHK units at a tentative price tag beginning Rs 27 lakh

Tata Housing Development Company has launched Ariana, Bhubaneswar’s first integrated residential complex at Shankarpur. Read more

Source : www.mydigitalfc.com

Guwahati to expand by 66 sq km: Neog

GUWAHATI – The Guwahati Development Department (GDD) plans to expand Guwahati by another 66 square kilometers to accommodate the city’s rapid growth and development.

Announcing this during the inaugural ceremony of the three-day ARIEDA Realty Expo-2013 at the Maniram Dewan Trade Centre, Ajanta Neog, Minister for PWD and GDD, said that a committee had been formed to resolve differences of opinion about issues relating to building permission with builders and others associated with the industry. Read more

Source : www.assamtribune.com

SEZ developers allowed to use land for industrial colony

CHANDIGARH: Haryana government today rolled out a new policy framework allowing developers to use land locked up in SEZ projects for setting up 'Industrial Colony' or 'Cyber City' as one time measure to attract investments. 

This decision was taken by the state cabinet which met here under the chairmanship of Chief Minister Bhupinder Singh Hooda here today. Read more

Source : economictimes.indiatimes.com

Top state official to probe Mumbra building crash

Mumbai : Almost a month after a building collapsed in Shil Phata in Mumbra killing 74 people, the state government issued directives to conduct an investigation by a single-member panel of additional chief secretary (ACS).

The urban development department headed by chief minister Prithviraj Chavan issued a government resolution (GR) to this effect on April 26. Read more

Source : www.hindustantimes.com

Risks without returns

External commercial borrowing for low-cost housing is a bad idea

It has been reported that a high-level committee of officials from the finance ministry and the Reserve Bank of India is due to meet soon in order to consider whether affordable or low-cost housing projects can access more external commercial borrowing, after being treated like "infrastructure" sectors. It makes economic sense for traditional infrastructure companies, such as those building highways or pipelines, to obtain financing at lower rates and for longer time periods, as infrastructure development is not like most other investments - a large number of people share the benefits, making it hard to keep out free riders and thus equally hard to fund; there are high externalities for local entrepreneurs and business; and the initial investment can sometimes be recovered only in decades. Housing in general, while it does have considerable social and economic externalities, does not feature the exclusion or the free rider problem. Nor do companies see pay-offs in the same decades-long time frames as do real infrastructure firms. The economic logic to treating them identically is shaky.

On the other hand, current real estate companies have been signally unable to take advantage of the demand for affordable housing. According to the Report of the Working Group on Financing Urban Infrastructure for the 12th Five-Year Plan, 99 per cent of the housing shortage of 24.7 million units at the end of the 10th Plan was related to low-income groups. The financing required for affordable housing during the 12th Plan, the report concludes, is Rs 8.5 lakh crore, of which Rs 2 lakh crore is needed for building and upgrading the surrounding infrastructure. Read more

Source : www.business-standard.com

R 267-crore 'largesse' for private developers

Chandigarh : While farmers are a happy lot after getting Rs. 1.35 crore per acre during the land acquisition process for housing projects, panchayats have been deprived of their legitimate share from the common pathways between farm holdings. 

The money in question in two blocks of SAS Nagar district, Majri and Kharar, stands at Rs. 267 crore for 198 acres of net area of the pathways dividing the fields acquired by private colonisers. Read more

Source : www.hindustantimes.com 

Real estate society takes 400 members for ride

SAS Nagar : A real estate society has been found to have violated key provisions of the Punjab Apartment and Property Regulation Act, 1995 (PAPRA) under the Greater Mohali Area Development Authority (GMADA), putting at risk nearly Rs. 200 crore of its 400 members. 

Sky Rock City Welfare Society at Behrampura villagers in the district collected Rs. 10 lakh to Rs. 85 lakh from each of its 400 members despite not having developer's licence, a mandatory requirement for carrying out such a step. As punishment GMADA has cancelled licence of the society's promoter, which means cancellation of its registration with GMADA. Read more

Source : www.hindustantimes.com

Bangalore’s reality lags behind image

BANGALORE, India — Two decades ago, this bustling melting pot was an advertisement for a new, confident India. Bangalore’s young, unapologetically cosmopolitan, English-speaking workforce drove India’s economic rise and put the city on the global map, making it synonymous with the country’s information technology revolution.

Sanjit Das/Bloomberg - Pedestrians and traffic move along Brigade Road in Bangalore, India.

But these days, Bangalore’s reputation is taking a beating. Read more

Source : www.washingtonpost.com

Housing dream or nightmare?

We need a tough regulator to rein in unscrupulous real estate builders.

Builders enter into one-sided contracts with home buyers. — P.V. Sivakumar

The recent collapse of a residential building in Thane, Maharashtra, that killed 74 and left more than 60 injured underscores the urgency of bringing a tough regulator for the real estate sector. Read more

Source : www.thehindubusinessline.com

Saradha Group’s 63 boxes, Boston servers kept Sebi at bay for 3 years

New Delhi : The collapse of West Bengal’s Saradha Realty may have come as a big surprise to investors, but the state’s authorities and the capital market regulator Securities and Exchange Board of India have been pursuing the case for over three years while failing to make any headway. During this time, Saradha ran circles around Sebi, giving it 63 cartons of meaningless records, promising another 170 more boxes, and even saying the records were located in servers in Boston, the codes of which were with staffers.

In other such collective investment schemes that Sebi is pursuing, the markets regulator has admitted that companies have found it easy to get stays from various courts. According to a Sebi official, Sebi also took up the matter at the level of the Financial Stability and Development Council — the highest authority in India dealing with the financial sector — and asked for the Sebi Act to be amended to give it full powers to monitor such schemes. Read more

Source : www.financialexpress.com

Infra experts' meet opens today in Patna

PATNA: Infrastructure development has played a significant role in the progress of the state and, as such, the Bihar government has invited engineers, architects and real estate giants from across the country to discuss building technology that would benefit the upcoming projects and accelerate the growth rate of the state's economy.

The three-day event in the form of midterm session of Indian Building Congress (IBC), being organized by the state building construction department and Bihar State Building Construction Corporation Limited, opens on Friday. It will feature panel discussions on topics such as 'Skill development in construction industry' and 'Drainage problem in Bihar'. There will also be a talk on 'Infrastructure development' in the context of Bihar by Delhi-based S S Chakraborty. Several papers will be presented in three technical sessions to be held as part of the event. Read more

Source : timesofindia.indiatimes.com

Rating system for green buildings launched

MUMBAI: Indian Green Building Council (IGBC), part of Confederation of Indian Industry (CII), has launched a first-of-its-kind rating system to address sustainability aspects in existing buildings. 

The rating tool facilitates building owners and facility managers in implementation of green building strategies, measure their impacts and sustain the performance in the long run, a CII statement said. Green existing buildings have the potential to bring about operational savings in energy and water consumption to a tune of 15-30%, apart from enhanced air quality. Read more

Source : timesofindia.indiatimes.com

Vacant IT buildings in Chennai may soon turn into malls, offices

CHENNAI : Buildings constructed in and around the city for the Information Technology sector by availing special benefits could now be converted for other purposes.

Chennai Metropolitan Development Authority has given the green light to the proposal by Confederation of Real Estate Developers’ Associations of India (CREDAI) to convert such buildings, sources told Express. The authority had recently held a detailed discussion on the request from CREDAI. Read more

Source : newindianexpress.com

BMC had rejected proposal to dereserve garden plot at Worli highrises

The BMC had in 2001 rejected a proposal by the Sukhada and Shubhada cooperative housing societies to de-reserve a garden plot and rezone it for residential purposes. This is the same area that was added to the plot thereby allowing the society to avail of extra FSI (floor space index) and raise the height of the twin towers. Sukhada, 14-storeyed and Shubadha, 32-storeyed, mostly house politicians and businessmen.

"The public purpose is not served (if the 'garden' plot is de-reserved/deleted) and the proposed modification (to rezone it as residential) will be beneficial only to developers of the adjoining residential plots and therefore garden may be developed on the plot," said the December 11, 2001, letter by the then BMC's chief engineer of development planning department to the Under Secretary of the Urban Development Department. Read more

Source : www.indianexpress.com

Faridabad homebuyer robbed of crores?

Faridabad : Are you a homebuyer who has paid more than R 1 lakh to your builder for ‘external development charge (EDC)?’ If yes, then you could be among thousands of homebuyers in the Greater Faridabad area, who have paid more than  what they were supposed to... And this ‘extraction’ could total a whopping R 1600 crore. 

A part of the audit report of the committee which states that there is no standard formula regarding charging of EDC

In what could turn out to be the biggest case of cheating of the vulnerable middle-class homebuyer, some alert consumers have discovered that they could have been forced to pay extra money to their builders – anything between R 1 lakh and a whopping R 5 lakh – for EDC, which is levied on the builders by the government for connecting their projects to sewage, water supply systems – anything which is considered to be ‘external development’. Read more

Source : www.hindustantimes.com

DDA to build five new sub-cities in Capital

New Delhi : In a few years, Delhi is expected to get five new sub-cities on the lines of Dwarka and Rohini, thanks to the Delhi Development Authority’s (DDA) new land-pooling policy. 

Since 1961, DDA’s policy has been to acquire large tracts of land to develop housing but that approach hasn’t been able to meet the city’s soaring demand for affordable housing. The land-pooling policy allows developers or large landholders to pool in land for development and get back a share in lieu of it. Read more

Source : www.hindustantimes.com

Government's indifference provokes Greater Noida's farmers

Greater Noida : The indifferent attitude of the state government towards their "genuine" demands has pushed Greater Noida's farmers to the edge. Although they have been staging protests and stopping construction of housing projects by private builders, they could not make much impact.

According to the protesters, they would strip down to underwear and shout slogans in front of Prime Minister Manmohan Singh and a legion of foreign delegates when they visit Greater Noida's India Expo Mart for the Asian Development Bank (ADB) summit in first week of May. Read more

Source : www.hindustantimes.com

MMR cluster redvpt to have FSI of 4

Mumbai : All layouts of 4,000 sqm or one acre will now be able to avail four times the total built-up space currently permissible. Chief minister Prithviraj Chavan formally declared in the state legislature of the government’s decision to offer a Floor Space Index (FSI) of 4 for all cluster redevelopment projects in the Mumbai Metropolitan Region.

While developers welcomed the long-awaited decision that is expected to give a sharp thrust to housing, especially affordable housing, in the 4,000-sq km area of the MMR, urban development department officials said the government hopes to promote development of township-style spaces with integrated residential and commercial space in this region. The region includes residential hubs such as Thane, Kalyan-Dombivli, Ulhasnagar, Navi Mumbai, Vasai-Virar and Mira-Bhayander. Read more

Source : www.dnaindia.com

Delhi has only 10 inspectors for 30,000 lifts

NEW DELHI: At a time when the union urban development ministry is pushing for vertical growth, the Delhi government is unable to ensure safety of lifts installed in high-rises. It has just 10 lift inspectors to check around 30,000 licensed lifts, and not a single licence has ever been cancelled. 

The electrical inspectorate of the labour department is facing acute staff shortage. It has 18 personnel, including three deputy electrical inspectors and five assistant electrical inspectors. Of the 18 posts of electrical overseers or sub-inspectors, eight are vacant. "Licences are issued by deputy- and assistant-level inspectors. Renewal of licence and routine checks are done by sub-inspectors. But we are not able to routinely check lifts as we don't have sufficient staff," said a senior official with the labour department. Read more

Source : timesofindia.indiatimes.com

No check on unauthorised constructions in UDA region

VIJAYAWADA : Many builders go ahead with their projects without approval

The pending files in Vijayawada Guntur Tenali Mangalagiri Urban Development Authority (VGTMUDA) seem to have paved way for unauthorised constructions in the UDA jurisdiction, while the extended jurisdiction and shortage of manpower has crippled the activities in the UDA.

About 300 files pertaining to building plans are pending clearance from the UDA whose jurisdiction is spread over two districts -- Krishna and Guntur. With the expansion, 631 villages from both the districts have been included taking the total number of villages to 819, municipalities to seven, and municipal corporations to two. Read more

Source : www.thehindu.com

Redevelopment only way forward for Mumbai: Experts

MUMBAI : With the availability of land in Mumbai drying up, real estate experts believe redevelopment is the only way forward for the megapolis.

Big developers are now pursuing redevelopment projects to make the most of incentives offered by the State. (Above) A file photo of an old building in Mumbai that was being redeveloped.

“Availability of land is scarce. Due to sky-rocketing land prices and limited expansion possibilities, redevelopment has become the need of the hour,” says Nikhil Bhatia, head of real estate consultant CB Richards Ellis’ Western Region. Read more

Source : www.thehindubusinessline.com

Missing cog in the realty machine

Known is the fact that Chennai's suburbs are transforming into the new city centres, but are social infrastructure and residential development keeping up?

A high-rise in Kelambakkam, OMR.

The past few years’ development has changed the urban landscape across India. Chennai is no exception. The city has witnessed profound changes in its urban development with suburbanisation following the pattern of developed countries. Changes in consumer demand, increasing private automobiles, diffusion of social infrastructure, and desire for quality life have led to the decentralisation of urban geography. Read more

Source : www.thehindubusinessline.com

Now, a Property Records card in Karnataka

The Survey and Settlement Department plans to issue it to each property in urban areas. 

Perhaps, there is no other sector of the Indian economy other than the real estate ownership document sub-segment which has undergone many avatars. There are, in fact, multiple authorities who claim administrative powers over land, building, roads, etc., but no authority or official takes full and complete responsibility to certify the ownership rights of any property in its entirety. While the Transfer of Property Act, 1982 can be considered a basic legislation dealing with the sector, many other Central and State legislations, like Land Ceiling and Registration Act, 1976, Urban property Act/s, Urban Development Authorities Act/s etc., all over the country have spread their jurisdiction only in parts over property. Read more

Source : www.thehindu.com

Maharashtra to plug loopholes in slum rehabilitation projects

MUMBAI: With a view to curtail trading of the letter of intent (LoI) secured by builders in slum schemes, the state government is proposing a mechanism in which the credentials of a builder applying for a Slum Rehabilitation Authority (SRA) project will be scrutinized, said minister of state for housing Sachin Ahir.

"Under the mechanism, the Slum Rehabilitation Authority (SRA) will verify the builder's past record, financial stability, schemes completed before an LoI or approval is given," said the minister. Read more

Source : timesofindia.indiatimes.com

Redevelopment wave hits Chennai

Chennai : What do you do if you have an ancestral home that is too large for your nuclear family? A large number of families in Chennai who were faced with this problem have now found a solution to this dilemma. And the answer is redevelopment!!

What is redevelopment and how does it benefit the owner of the house? A growing number of house owners in different parts of the city are entering into joint ventures with developers. As per this venture, independent houses are being demolished and reconstructed by these developers as structures having three to four floors each. The owner gets to keep 75 per cent of the profits while the developers get 25 per cent of the share. Read more

Source : content.magicbricks.com

Sting operation: Over 30 cops suspended for taking bribes

It was a day of shame for Mumbai police as IBN-Live reported that 36 policemen were suspended after they were caught taking bribes, though there is some uncertainty about that figure as other news organisations have reported it was 32 policemen who have been suspended.

According to an IBN-Live, report, a sting operation by a social activist showed them accepting bribes from residents of illegal constructions in Mumbai’s Kurla area. This comes following the collapse of an illegal building in Thane that claimed 74 lives. Read more

Source : www.firstpost.com

Certificate pill for land ailment in Bhubaneswar

Bhubaneswar : Cashless real estate transactions will soon become a reality for land losers and some builders here.

In the near future, if you happen to lose a portion of your land to city development, the Bhubaneswar Development Authority (BDA) will compensate you with a document called transferable development right (TDR), which is worth the value of your land. Read more

Source : www.telegraphindia.com

Lens on illegal Kolkata highrises

KOLKATA: The state government seems determined to crack down on illegal highrises in the city and its outskirts. It plans to amend building laws to tackle the menace in tougher way.

Urban development minister Firhad Hakim has called a meeting at Writers' Buildings on Thursday with mayor Sovan Chatterjee and building experts to discuss the issue. Read more

Source : timesofindia.indiatimes.com

Urban planning: Institute to train civic bodies in the offing

New Delhi : Government is mulling to set up an institute for bridging the skill deficit in the area of urban planning and development especially among officials of civic bodies, Union Minister Kamal Nath said today. 

"The government is looking at setting up an Urban Institute of India which is very much needed for training and imparting skills to municipal officers...Urban planning which is very much needed because we have a huge skill deficit in this sector," Nath told reporters here. Read more

Source : www.business-standard.com 

Pocket-friendly homes for all in Bhubaneswar

BHUBANESWAR: The state government is all set to create 5,000 affordable housing units in the city soon by involving private developers, housing and urban development (H&UD) secretary Injeti Srinivas said here on Tuesday.

"Government will provide land to private developers for the housing units at Gothapatna. The expression of interest will be published within two to three months," Srinivas told reporters. Read more

Source : timesofindia.indiatimes.com

Govt plans relief for Sainik Farms

NEW DELHI: The Union urban development ministry has fast tracked two crucial proposals that would bring big relief to property owners in colonies such as Sainik Farms, Mahendru Enclave and Anantram Dairy by regularizing farmhouses and to over 22 lakh apartment owners in the capital by giving them exclusive ownership of builder flats.

In the first case, the Central ministry will soon take the issue of regularization of the illegal farmhouses to the Union Cabinet for "in-principle approval". Though this won't end the ordeal of thousands of property owners in these affluent colonies since government would later decide about the penalty or charges that the residents would have to pay for regularization, this single decision would make it clear that these colonies will never be removed or razed. Read more

Source : timesofindia.indiatimes.com

Realty activity revives in smaller cities, but developers cautious

India’s small cities are an attractive draw for real estate developers, offering steady demand for low-priced homes

 Small cities are likely to emerge as metropolitan clusters because of the rapid urbanisation in the country. Photo: Ramesh Pathania/Mint

Bangalore: Small cities and towns are experiencing a revival in real estate activity this year as the overall market rebounds, although developers have tempered their enthusiasm as these areas were the worst hit during the sectoral slowdown last year.

Astrum Homes, set up by promoters of Fire Capital Fund and a few US-based professionals in 2011 to develop mid-income housing projects in smaller cities, is back to launching projects after a year, but has extended by two years its earlier target of building 32,000 homes by 2015. Read more

Source : www.livemint.com

Thane building collapse highlights the dangers of corruption and distorted real estate markets

The sheer scale of the Thane tragedy, which took 74 lives even as 60 more were injured, has prompted some sort of action from the authorities: the builders and six others have been arrested, including officials whose collusion may have had a role to play in the building collapse. But given that thousands of buildings in Thane are illegally and equally shoddily constructed, and perhaps an even greater number in its southern neighbour Mumbai, far more wide-ranging actions are needed to prevent the recurrence of tragedies such as this.

It now appears that pretty much every norm in the rule book was violated in putting up the eight-storey building which, according to eyewitnesses, collapsed like a house of cards. There was no approved plan, sub-standard materials were used, no occupancy certificate was obtained from the municipal authorities, the litany goes on. Most outrageously, in order to make official demolition procedures tough, many poor people appear to have been invited to take up temporary residence in the half-constructed building — which accounts for the high casualty figures when it collapsed. Obviously, such gross violation of rules wouldn't have been possible without official collusion and corruption. Read more

Source : timesofindia.indiatimes.com

Green building concept gets cold shoulder in Madhya Pradesh

INDORE: Despite government incentives, concept of green buildings has failed to catch fancy of real estate developers in Madhya Pradesh. This is much in contrast to booming real estate markets like Gurgaon (Haryana), Mumbai, Bangalore and Hyderabad where 'green' is the in-thing.

Not a single building in the state is rated 'green building,' which uses less water, optimizes energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to conventional buildings. There are 352 green-rated buildings in the country, approved by Indian Green Building Council (IGBC). Read more

Source : timesofindia.indiatimes.com

Regulatory authority in Punjab soon for out-of-court settlement of property disputes

CHANDIGARH: Punjab government has decided to set up a regulatory authority in the state for out-of-court settlement of disputes between plot-holders and developers, between developers and concerned development authority and government. This is expected to go a long way in mitigating the hardships faced by developers and general public with regard to allotment of plots and approval and development of housing projects. 

The government will also set up an appellate tribunal to settle the appeals that may arise against the decisions of the regulatory authority. This is one of the major highlights of the Housing & Urban Development Policy 2013, unveiled by the state government. Read more

Source : punjabnewsline.com

'Corruption begins after sanctioned realty plan'

New Delhi/GURGAON: The provision of "compounding construction" is the main reason behind corruption in government, the Haryana industries secretary said at a two-day seminar on "Emerging Frontiers For Spatial Planning: Development of Human Resource for Promoting Real Estate and Property Management" by NAREDCO ( National Real Estate Development Council) on Friday.

Y S Malik, financial commissioner & principal secretary, department of industries, commerce & IT, government of Haryana pushed the idea of doing away with two separate rules for sanctioning building plans as common practice. Read more

Source : articles.timesofindia.indiatimes.com

The concrete jungle obeys no rule

The callousness with which the basic principles of putting up a building have been ignored is a pointer to the scant regard Indians seem to have for their laws. The builders’ mafia has always lived by its own rules, which means it flouts every known regulation to serve the huge demand for dwellings in urban India, now expanding like never before as waves of migrants move from the villages to towns and cities in search of livelihood.

The Thane building collapse is yet another tolling of a giant warning bell on how little we care for safety in the sardines-in-a-can experience of the mega cities. What happened in a Mumbai suburb could happen just about anywhere as the urban crush grows. At what cost this unfettered urban growth is being undertaken is a measure of the scant value we put on lives. Read more

Source : www.asianage.com

Policy changes key to affordable housing

Affordable housing is the key to India's realty industry being able to change lanes to the fast track but cost escalations due to delayed permissions, lack of access to cheap credit and shortage of building material are proving to be major hurdles. The solution: Policy changes covering land to lending.

The demand for affordable homes alone, in the range of Rs.1-5 million, is in the range of five million. Over a third of new homes is in this category. According to industry statistics, out of 500,000 homes to be delivered this year, a large part will be the affordable housing segment. Read more

Source : www.newstrackindia.com

Glut of properties hits prices in south Delhi

NEW DELHI: A glut of new residential properties in south Delhi, combined with the ongoing economic downturn, has ended the real estate bull run in the city's tony enclaves. Not only are prices stagnating, in colonies like Greater Kailash and Saket apartments are said to be selling at a discount. 

Interviews with property brokers bring out the same refrain: Dhanda manda hai. They explain that virtually every other house (kothi) has been turned into builder buildings - typically four floors on stilts - creating a large number of floors for sale. And there are not that many buyers. In fact, floors are staying unsold for six-seven months. Read more

Source : timesofindia.indiatimes.com

We will ensure millions of homeless can fulfill their dream of owning a house: CREDAI

CHENNAI: The newly elected body of the Confederation of Real Estate Developers' Association (CREDAI) is embarking on a multi-pronged agenda to work closely with the various governments with focus on affordable housing, green buildings and water harvesting and skill development among construction workers.

"The task force report on affordable housing is already with the government and we will impress upon the concerned departments to facilitate its implementation for ensuring that the millions of homeless fulfill their dreams of owning a house," said Lalit Kumar Jain, chairman, CREDAI said. CREDAI also set up a youth wing reflecting the increasing number of young entrepreneurs joining the profession. Read more

Source : timesofindia.indiatimes.com