Think India Foundation

Confusing DC rules bring just two proposals in two months

Mumbai : The implementation of the new Development Control (DC) rules has brought the real estate development in the city to a grinding halt. TheBrihanmumbai Municipal Corporation (BMC) received only two proposals in the last two months compared to 15 a day during peak time. The civic body has not cleared either of the proposals.

“Only two developers dared to submit their proposals in two months. The poor response will have a long cascading effect on the city’s development and real estate prices. The market moves on the calculation of demand and supply. If the supply dries up, prices will skyrocket once again,” an industry expert told DNA. Read more

Source : dnaindia.com

Cops wait for complaint to curb illegal parking at Galleria

Gurgaon : Facing criticism for not lodging an FIR against a contractor, who has been running a parking lot in Galleria Market illegally, the city police on Thursday put the ball in the court of developer under whose area the vacant land falls. Last week, the Sector 29 police station had refused to register a complaint filed by the Haryana Urban Development Authority (Huda) against the contractor, Sanjay Dagar. Apart from Huda, residents of DLF City also complained before the police commissioner KK Sindhu. 

On Thursday, the police commissioner said the department cannot take action against the contractor until the land owner files a complaint. Read more

Source : hindustantimes.com

Metro Rail helps property prices shoot up in Hyderabad

The Hyderabad Metro Rail project has become the buzzword for the city’s realty sector, which has pinned all its hopes on this Rs 14,132-crore project to revive a stagnant market. Buyers are finding the project attractive owing to easy accessibility and the development that is expected to take place once the project commences operations within five years. Real estate developers have been prominently highlighting Metro Rail connectivity in their brochures and publicity material to attract buyers. They are luring customers by predicting that property prices will escalate in the areas surrounding Metro Rail stations in the next five years.

The real estate sector has seen poor demand since 2007 due to the global recession and later, from 2009, due to political turmoil in the wake of the statehood agitations. The commencement of the Metro Rail work along three corridors spread over 71 km has thus revived hopes of a real estate boom. Agents say the Metro has become a determining factor in the escalation of property prices in the city. Read more

Source : deccanchronicle.com

Weaker sections to benefit as housing policy tightened in Rajasthan

JAIPUR: Now, people from the low income group (LIG) and the economically weaker section ( EWS) in the state can dream big to stay in posh group housing schemes and townships as the UDH department has decided to strictly implement its housing policy.

According to urban housing and development ( UDH) officials, private builders have to reserve a portion of group housing projects for the economically weaker segments (EWS) and the low income group (LIG) segment as per the housing policy. So far, the builders and the developers used to produce affidavit that they will reserve area in this regard. However, till date it was never done. Read more

Source : articles.timesofindia.indiatimes.com

Nagaland chief minister Neiphiu Rio calls for development of Kohima suburbs

KOHIMA: Nagaland chief minister Neiphiu Rio on Wednesday stressed on the need to expand the state capital Kohima and establish satellite townships and sub-urban areas on the outskirts of the city. Addressing a gathering after inaugurating the 11-km road from Viirie to Kohima constructed under MGNREGS, Rio urged the state's real estate owners to have a positive mindset and handover their lands to government for developmental works as it would ensure better and proper planning in the expansion of the state capital.

The CM also greeted the people on the occasion of Sekrenyi festival and congratulated the Kohima Village Council and Village Development Board (VDB), Kohima, for successfully completing the road, which was constructed at a cost of around Rs 1.5 crore. Lauding the land owners of Kohima Village for donating the land for developmental works, Rio hoped that the establishment of the road will ease the flow of vehicular traffic in Kohima and improve transport and communication in the area. Read more

Source : timesofindia.indiatimes.com

Bangalore’s growth: Planning still in progress

Bangalore : Sprawling malls and multi-storey complexes continue to sprout at a frenetic pace in India’s technology capital.

However, increasing concern that Bangalore’s development is unplanned has prompted experts in various fields to gather in the city on Thursday to find ways to ensure the growth is solid and not fluid. Read more

Source : dnaindia.com

Various bodies unite for Bangalore's solid growth

Bangalore : A bunch of senior civil and urban planners and representatives of various industries will participate in a meet organized by Global Initiative for Restructuring Environment and Management (GIREM) on Thursday, Feb 22 to assess whether master plans for Bangalore's growth are solid enough to cater to the exploding population of the city and discuss how all stakeholders can add value to these plans.

Moreover, the participants will assess the role of metro in easing commuting problems, security aspects and whether the large IT firms can share transportation services to lessen vehicle congestion on roads. Read more

Source : news.oneindia.in

BDA lets housing complex crop up inside a ‘park’

Babus, IAS officials allow illegal conversion of 7.9 acres of land, ignore alteration of building plan by developer

The apartment blocks coming up on Bannerghatta Road will have 301 flats

Bangalore : Corruption has crept so deep into the BDA and the state administration that a 7.9-acre piece of land originally meant for a park now houses a residential complex and the owner of the plot has even sold the area marked in the building plan ‘sanctioned’ by BDA as the approach road.

After hearing a private complaint about the discrepancies, in which a few senior IAS officers have also been accused of giving the go-by to the rules, the court directed Lokayukta police to investigate the matter and submit a report before March 30. Read more

Source : bangaloremirror.com

Green townships in Gurgaon: Builders turning their attention on green buildings

Apart from vertical developments, builders are also focusing their projects on green developments. For this, they are getting approval from GRIHA (Green Rating for Integrated Habitat Assessment), in India. Some developers like Ansal API, 3C, Central Park,Chintels Ltd,Earth Infrastructure and Falcon Group have already launched projects in and around Gurgaon, under this system.

The latest is Ansal API's Esencia in Sector 67 on Golf Course Extension, Gurgaon. Esencia Community offers well-designed homes with the best of amenities. Esencia Township has been registered as a pilot project for rating under GRIHA. The 3C has got 47 acre in Sector 89 to develop a Green Township. Read more

Source : articles.economictimes.indiatimes.com

CCI scrutinising cases against property developers

Mumbai (PTI) : The Competition Commission of India (CCI) is scrutinising several cases against developers for allegedly abusing their dominant position based on the information received by customers, investors and NGOs, a senior official said today. "We are receiving information from various stakeholders. We are scrutinising all the cases and we will submit a report to the commission in a month's time," CCI Director General A K Chauhan told reporters on the sidelines of RICS Real Estate Conference 2012 here today. "We have pooled in all the information and are working on it," he said. Chauhan said most of the cases they are investigating were similar to the complaints received against real estate developer DLF. 

Flat buyers had filed a complaint against construction major DLF in May 2010, challenging the delay in possession and alleged arbitrary changes to the building plan and structure. DLF's project Belaire was to originally consist of five towers with 19 floors each, but DLF later increased it to 29 floors. "We have received information about developers both small and big across the country. It is not restricted to any urban or metro but also in Tier I and II cities," he said, adding, "once the report is submitted, the Commission will pass necessary remedial orders." Read more

Source : ibnlive.in.com

Traffic improvement plan to be implemented soon in Chennai

CHENNAI : A comprehensive transport strategy will soon be adopted for Chennai with the Unified Metropolitan Transport Authority (UMTA) starting to function, according to the Tamil Nadu Housing Secretary, Mr Phanindra Reddy. 

Development plans: Mr D. Jayakumar, Speaker of the Tamil Nadu Assembly, viewing a stall at the Fairpro 2012 along with Mr T. Chitty Babu (third from left), President, Credai, Chennai, and Mr N. Nandakumar (second from left), Secretary, Credai, in Chennai on Friday. — Photo: Bijoy Ghosh

Addressing media persons following the inaugural of Fairpro 2012, a property fair organised by the Confederation of Real Estate Developers Associations of India (Credai), he said the first meeting of the UMTA was held recently and a Executive Committee led by the Chief Secretary is to be constituted. Read more

Source : thehindubusinessline.com

15 TP schemes to be passed in next 15 days in Surat

SURAT: Gujarat urban development minister Nitin Patel has promised to clear Surat's 15 town planning (TP) schemes pending with the state government in the next 15 days. Of Surat's 125 TP schemes, 24 have sanctioned status, 22 sanctioned preliminary status and 58 sanctioned draft status. Drafts for 18 TP schemes and proposal for three have been submitted to the state government by the municipal corporation.

Inaugurating the three-day property show organized by Surat Builders Association (SBA) and Confederation of Real Estate Development Association of India (CREDAI) in the city on Friday, the minister promised to announce the state government's policy on building height during the assembly session. Emphasizing on the need to have affordable housing schemes, the minister promised developers that the state government would provide incentives to them if their plans also accommodated people from the marginal sections of society. Read more

Source : timesofindia.indiatimes.com

Realty boom in Manesar: Real estate market growing at a frenzied pace

Once a sleepy village of about 1,000 dwellings units on Delhi-Jaipur Highway (NH-8 ), Manesar has now transformed into an industrial and commercial hub.With the availability of all basic services like health facilities, schools,a post office,banks,warehouses and cargo facilities, IMT Manesar has seen a massive influx of corporate traders, realty players, manufacturers, industrialists, and also MNCs.

Only 32 km from the IGI airport and 45 km from Connaught Place, Delhi, Manesar is well connected to Delhi and Gurgaon. The real estate market in Manesar has been growing at a frenzied pace ever since several top MNCs moved in here. Rates of commercial properties in Manesar have increased by 35-40 % in the last six months. Read more

Source : articles.economictimes.indiatimes.com

Jaipur: Now, own a home on Delhi-Jaipur highway!

Jaipur: The world is running out of living space. And, India has an answer. The ministry of surface transport wants to turn areas abutting major highways to turn into residential hubs. Rajasthan will lead the way.

Initiating a new model of highway-at-your-doorstep, the Road Transport and Highways department has proposed development of integrated townships along a 230-km stretch of Delhi-Jaipur expressway. Read more

Source : daily.bhaskar.com

Maharashtra bars arbitrary changes in land reservations by civic bodies

AT a time when most municipalities in the state are due for a revision of Development Plans (DPs) — the 20-year land use blueprint — the state government has clamped down on the arbitrary changing of public reservations by urban local bodies. In a majority of cases, the changes were found to have been made to facilitate private residential projects.

The state government has over the past month cleared the revised DPs for 40 municipalities, with five more slated to be cleared by April. Some of the cities and towns whose DPs have been sanctioned include Pimpri-Chinchwad, Nashik, Sangli, Ichalkaranji and Pandarpur. Read more

Source : indianexpress.com

Retail biggies now chase online consumers

Rising real estate costs have forced them to start Web stores

NEW DELHI : After turning urban Indians into mall-rats, the Big Daddies of retail are wooing India's growing population of Internet users for additional revenues. Almost all major retailers have in the last six-eight months launched or are in the process of launching their online business.

Retailers hope to tap the youth market through online format

Just last week, More, the retail arm of the Aditya Birla Group, set up a virtual store called Moremegabuys.com. It showcases deals in 32 different product categories. Tata-owned Croma, a part of Infiniti Retail, says it will be launching its online format shortly, while Shopper's Stop is looking at adding a shopping option on its Facebook page. Early mover Future Group-promoted FutureBazaar is targeting a daily sales of Rs one crore from its portal. Read more

Source : thehindubusinessline.com

Hospitality industry hobbled by land costs, taxes, delays: CII

New Delhi : High real estate costs, lack of any tax incentive and bureaucratic hurdles are huge problems for the growth of the hospitality industry that is one of the country's top job earners, a survey revealed Sunday.

"The high costs of real estate and lack of any tax incentives by the government are acting as hurdles for the hospitality sector. These challenges are further accentuated by overall infrastructure deficit in the country," said a Confederation of Indian Industry (CII)-PricewaterhouseCoopers (PwC) survey. Read more

Source : hindustantimes.com

Is Sonipat-Kundli region another Gurgaon in the making?

With realty prices soaring in Delhi in recent years, action is shifting to the suburbs and the satellite towns. Affordable property prices, proximity to the metro city, enhanced infrastructure and the availability of spacious residential and commercial spaces are the key factors driving the growth of these towns and suburbs.

And one such fast-developing region is the Sonipat-Kundli region in Haryana. In fact, the Sonipat-Kundli region has developed so fast in the past few years that some industry observers have already started viewing this region as the next Gurgaon in the state. Read more

Source : articles.economictimes.indiatimes.com

Builders feel investor heat, bite buyback bullet

Some are funding it from internal accruals, while many want to avoid the put option

Mumbai : Thursday was a big payday for Deutsche Bank (DB), which ended its tumultuous relationship with the Mumbai-based Lodha Group. For DB, the exit was a windfall — a neat 55 per cent profit in four years.

Such buybacks are rising. Indian real estate saw 14 such private equity (PE) exits, worth $457 million (around Rs 2,285 crore) in 2011. Of these, promoters bought out existing PEs or other financial sponsors in eight deals, according VCCEdge, the research platform of VCCircle. Read more

Source : business-standard.com

DLF, state govt get HC notice over allotment of 350 acres in Wazirabad

GURGAON / CHANDIGARH: Allotment of around 350 acre prime land, acquired for public purpose by Haryana government, to real estate giant DLF for developing luxurious golf villas and golf course in Gurgaon has come under the scanner of Punjab and Haryana high court.

The HC on Thursday issued notices to the state government and DLF seeking their response on the issue. Division bench headed by Chief Justice Ranjan Gogoi has also issued notices to Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Haryana Urban Development Authority (HUDA) asking them to file a reply by April 19. DLF is developing air conditioned apartments/villas and an 18-hole golf course on the land under the project 'The Magnolias'. Read more

Source : articles.timesofindia.indiatimes.com

Did builder in Punjab sell you plot he doesn't own?

Chandigarh : Here's a scam warning for those who have recently bought plots and apartments from private property developers.

The dream home you own, or the plot on which you aim to build it, may have been sold to you by people who do not even own it. Read more

Source : expressindia.com

Property registration falls in Ahmedabad

Ahmedabad : Despite all-round development of Ahmedabad and the growing urbanisation, property sales deed registration in the city has declined, which indicates that the realty market is entering into slowdown. The city witnessed 1.05 lakh sales deed registrations at 14 sub-registrar offices during 2011, which was 1.09 lakh in 2010. It shows a decline of 3.5% in the city.

The comparative property sales deed registration data of 2010 and 2011 reveals that the city and west zone have witnessed a fall, while the east has registered a growth. The west zone, covering sub-registrar’s offices in Memnagar, Vadaj, Paldi, Vejalpur, Daskroi (agriculture), Sola and Bopal, witnessed registration of 50,601 sales deeds in 2011, which were at 57,664 in 2010, thus showing a decline of 12.24% over the previous year. Read more

Source : dnaindia.com

Study links polls to slump in real estate business

CHANDIGARH: A study focusing on election funding and cement consumption in at least 17 states of the country, including Punjab, has highlighted the role of black money in elections. The study, done by two Indian-origin US political scientists, has established how cement sales are linked to elections due to a deep nexus between politicians and real estate developers.

While electoral activity in Punjab ended recently and wait for results is on, the state has registered an overall slump in construction activity in the past two months. The authors of the study, Devesh Kapur of University of Pennsylvania and Milan Vaishnav of Columbia University, compiled information on the monthly consumption of cement and the timing of elections in India's 17 major states from 1995 to 2010. Read more

Source : articles.timesofindia.indiatimes.com

E-toilets opened at Ernakulam Childrens Park

KOCHI: District Collector P I Sheik Pareeth on Saturday inaugurated the e-toilets installed at Ernakulam Children’s Park as part of the Clean City movement initiated by the Confederation of Real Estate Developers of India (CREDAI) in association with Muthoot M George Group.

The e-toilets are constructed on the model of those successfully installed at Kakkanad, with special facilities for women and disabled people. The toilets also have a sewage treatment unit attached to it. Read more

Source : ibnlive.in.com

Two Cidco plots sold for 123 crore

MUMBAI: Two commercial plots owned by City Industrial Development Corporation (Cidco) in CBD Belapur, Navi Mumbai, were sold for Rs 123 crore on Friday. Marriot Realtors emerged the highest bidder for plot no 18 & 19 measuring 7,162 sq m (almost two acres) when it quoted Rs 1.22 lakh per sq m. Its bid worked out to Rs 87 crore.

The second plot (no 74) measuring 3400 sq mts fetched Cidco Rs 1.06 lakh a sq m or about Rs 36 crore. The winning bidder was Mahadev Patel of NMS Enterprises. Read more

Source : timesofindia.indiatimes.com

Builders urge PMC to lift ban

PATNA: Days after Patna Municipal Corporation(PMC) imposed a ban on any further construction at the nine upcoming high-rises on the bank of Ganga, city builders on Saturday requested the municipal body to take back the ban. 

The chairman of Bihar chapter of Builders' Association of India (BAI), Manikant, said: "Such reports (about imposition of ban) have shown real estate industry in Bihar in a bad light." Read more

Source : timesofindia.indiatimes.com

Good living needs good housekeeping

India has a dynamic and rapidly evolving real estate industry catering to the housing needs of a growing urban population. The choices available to buyers today range from plotted developments to apartments to group housing complexes.

An increasing number of real estate developers have graduated from selling not just a home, but one with a lifestyle attached. Most projects are marketed that way, and most home buyers are attracted to the spin. Read more

Source : indianexpress.com

‘New DCR rules favour projects in island city’

Mumbai : Developers with projects in the suburbs have lashed out against the state government’s new building rules, which they allege discriminates against redevelopment projects in the suburbs at the cost of favouring those in the island city.

On January 3, Chief Minister Prithviraj Chavan announced the amendment to the Development Control Rules (DCR) wherein areas such as individual terraces, balconies and ornamental projections could be granted in the form of 35 per cent chargeable FSI. While it was initially proposed that there has to be a compulsory side open space of 6 m for all projects, the final rules reduced it to only 1.5 m in case of cessed building redevelopment and slum rehabilitation projects on smaller plots. This concession was not extended to redevelopment projects in the suburbs. Read more

Source : expressindia.com

Heritage Committee report puts UT in a fix over approving building plans in Chandigarh

Chandigarh : For the past six months, building plans of several houses in city’s upscale sectors are on hold for the want of approval from the UT Administration’s department of Urban Planning. In fact, the Upper Committee of the Plan Approval Committee of the Administration which approves building plans of the houses above two kanal, has not sanctioned even a single building plan starting from July 2011.

While the officials of the UT Administration say that the delay is due to the fact that the Heritage Committee has recently in its report recommended not to disturb the layout plan of the city and the given FAR (Floor Area Ratio) was set to disturb the same. This was holding up all building plans. On the contrary, the applicants who have been waiting for an approval of the building plan say that since the recommendations had only come in December, why did the authorities did not approve these earlier. The UT Estate office’s building byelaws clearly mention that any building plan has to be approved within a period of 60 days or else it is deemed to be approved. Read more

Source : indianexpress.com

More cities, cheaper land needed for affordable housing

NEW DELHI : Though affordable housing is the need of the hour for a developing country with a large population such as India, several roadblocks need to be first removed to achieve this dream.

At a meet organised by the National Housing Bank titled ‘Growth with Stability in Affordable Housing Markets,' challenges such as poor accessibility of finance and shortage of land in urban spaces were highlighted. Other factors necessary are a transparent and supportive legal system and innovation in the sector. Read more

Source : thehindubusinessline.com

Pinjore-Kalka Urban Complex plan in final stages

Haryana Urban Development Authority’s (HUDA) much awaited Pinjore-Kalka Urban Complex project is likely to see the light of the day shortly as the layout plan for the ambitious project is almost ready.

HUDA had acquired the land for the project and are waiting for an approval from director of town and country planning. Read more

Source : indianexpress.com

No construction in urban areas without HUDA approval

CHANDIGARH:No construction can be carried out in the urban and notified areas of Kururkshetra, Ladwa, Pehowa and Shahabad without the permission of Haryana Town and Country Planning Department.Stating this here on Tuesday, a spokesman of the Department said that the Department has been declaring the plots sold in unauthorized colonies as illegal from time to time.

It had come to the notice of the Department that some property dealers were misleading the people and selling the plots in unauthorized colonies by saying that unauthorized colonies would be regularized after removing the encroachment.However such colonies would not be regularized till a written order was issued by the government in this regard. Read more

Source : punjabnewsline.com

Time ripe for financial institutions to invest in housing: Selja

New Delhi: Minister of Housing and Urban Poverty Alleviation Kumari Selja Monday said time was appropriate for the banking sector and other financial institutions to play a greater role, along with the government, to provide affordable housing to the poor.

Delivering the keynote address here at an international seminar on "Growth and stability in Affordable Housing Markets", Selja said there has been a steady growth in the housing finance companies in India who are serving as dedicated outlets for the housing credit delivery. Read more

Source : zeenews.india.com

Next generation will not see animals, plants: Builder

Mysore : ‘Hassle-free system will reduce cost of building houses’

“We have destroyed what is priceless. It would be no surprise if the next generation inherits a earth sans birds, animals or plants. It is the legacy what we leave to our children. Children should become ambassadors for any movement and adopt what is right, only then can Earth be preserved,” said founder of Spectral Service Consultants Prem C Jain after releasing a technical volume of Buildtech at NIE indoor stadium here on Saturday. Read more

Source : deccanherald.com

Luxury housing staging a comeback on the realty market

Spurred by new product offerings, greater influx of end-user demand and an increasing upwardly-mobile segment, luxury and ultraluxury housing projects, with prices ranging between Rs 1 crore and Rs 15 crore, again seem to be making a comeback.

Mahagun Marvella, Raheja Revanta, Lodha Fiorenza, Lodha Aurum Grande, Oberoi Exquisite, Unitech's Nirvana Country2 Espace Premiere and Orris Aster Court are some of the premium projects, some ready, others under construction. In fact, dozens of luxury projects are coming up in the NCR alone, with Gurgaon and Noida being the hub of such projects. Read more

Source : articles.economictimes.indiatimes.com

MNC's now prefer Noida over NCR; planned townships, access to Delhi cited as reasons

Noida has been seeing an increase in the number of multinationals setting up base here. This has resulted in a large-scale migration of skilled and unskilled workers to this place. Infrastructure has developed in tandem - wide roads, big commercial centres, and institutions - which have lifted the stock of this place among developers, end users and investors.

Noida has obviously benefited from the urban stress being faced by Delhi, which is under pressure from a lack of space, sky-high property prices, and a large population . The prominent developers who have helped in the growth story of Noida include Jaypee, Amrapali, Prateek Group, Gulshan Homz, JM Housing Ltd, Earth Infrastructures Ltd, Ajnara India Ltd, etc. Read more

Source : articles.economictimes.indiatimes.com

Private sector takes up cudgels in Gurgaon

Gurgaon : In almost one year from now, India’s first private metro rail will start running on a 6.1-km elevated track, connecting offices of multinational companies, swanky shopping malls and up-market residential complexes. 

The Rs 1,000-crore Rapid MetroRail Gurgaon (RMG), being constructed by real estate major DLF Limited, will not only boost the local transport system but will also serve as a robust feeder system for the existing Metro line. Likely to start operations by early 2013, the track will have six stations. Read more

Source : hindustantimes.com

Builders disregard SC order on car parking

CHENNAI: As India celebrated its 63rd Republic Day on Thursday, about 100 elderly home buyers observed a one-day fast protesting against their builder, a quasi-government organisation, which is levying hefty charges on them for providing stilt car park, a thing the apex court in the country had ruled illegal in 2010.

The customers were echoing the concerns of almost every home buyer in the city. Most Chennai builders have been collecting hefty amounts for providing car parking facilities, from Rs 75,000 to Rs 1.5 lakh for open car park and Rs 1.5 lakh to Rs 3 lakh for stilt car park. Though many individual buyers would have raised objection to such practices, such an organised spirited protest is being staged for the first time. Read more

Source : articles.timesofindia.indiatimes.com

Maharashtra govt issues notification for affordable homes in state

The state government has issued a notification making it mandatory for all projects on more than 2,000 sq m land to reserve 20 per cent of the plot or constructed space for smaller sized affordable housing.

The rule would be applicable to the 26 municipal corporations and all municipal councils in Maharashtra. The notification issued by the state urban development department is meant to promote the concept of inclusive housing at a time when most developers, especially in Mumbai, are in the business of creating luxury housing. In a bid to prevent any misuse of the policy, the notification states that developers will not be allowed to amalgamate the smaller flats or land under any circumstances. Read more

Source : indianexpress.com

44% of housing units under Rs 35 lakh unsold in major Indian cities

NEW DELHI: Around 44% of apartments under Rs 35 lakh are lying unsold across the top seven cities in India. According to the research conducted by Knight Frank Research and Indicus Analytics under the product name eyestate, 28% of the total residential properties under construction in the seven urban centres- Mumbai, the national capital region, Kolkata, Bengaluru, Hyderabad, Pune and Chennai-are under the Rs 35 lakh price bracket, catering to almost 80% of urban households.

" Contemporary market belief would lead us to assume that all or most of this product would be absorbed as it is within the affordability criteria, but this is not the case," says the report. Read more

Source : articles.economictimes.indiatimes.com

BMC time-frames could cut bribes

MUMBAI: Municipal commissioner Subodh Kumar on Tuesday finalized guidelines for time-bound approval of building plans and fixing responsibility in the civic hierarchy . Officials could delay building plans for extraneous reasons by seeking irrelevant information, which forced builders to pay bribes for faster clearance.

Last year, the Practicing Engineers', Architects' and Town Planners' Association ( PEATA), the oldest and largest body representing the professionals, said it took an average 558 man days for Brihanmumbai Municipal Corporation ( BMC) permission. Read more

Source : articles.timesofindia.indiatimes.com

New DC rule may deliver only eyesores

Mumbai : Developers can now freely convert the spaces allotted for flower beds, balconies and voids into living areas but will have to pay a premium to the Brihanmumbai Municipal Corporation (BMC).Besides bringing in transparency in the use of floor space index (FSI), the modified Development Control (DC) rule will regularise illegal alterations.

An FSI is the amount of construction allowed on a particular plot. Higher the FSI, more the number of floors that can be added. "It will surely stop illegal additions and alterations done by bribing local civic engineers and elected representatives. Now, a developer or a buyer has to pay a premium to the civic body to use flower beds and balconies as living areas. As a result, no developer will propose the ornamental and elevation features in the plan," said a BMC architect. Read more

Source : dnaindia.com

Pune realtors’ body releases directory

The Estate Agents’ Association of Pune (EAAP) has released the seventh edition of `EAAP Directory’ 2012-16. The directory was unveiled by Lalit Kumar Jain, president, (national), Confederation of Real Estate Developers’ Associations of India (CREDAI).

The EAAP Directory will act as a ready reckoner for individuals and organisations related to the real estate industry and will be useful for buyers and sellers of property, said a press release. It will have a database of registration offices in and around Pune, contact details of all EAAP members, useful tips on buying and selling property and conversion tables along with articles contributed by industry veterans, said the release. Read more

Source : indianexpress.com

VUDA needs to pull up socks to implement revised development plan

VADODARA: Citizens and realtors alike may be upbeat as Vadodara Urban Development Authority (VUDA) has revised the development plan for the year 2031 which was also notified recently. However, concerns are being raised about its implementation. The general view being that if the implementation of town planning scheme and land acquisition process is delayed, then there would be haphazard development in the fringe areas.

With around 75 new town planning (TP) schemes under consideration as part of the development plan, VUDA will have to conduct extensive surveys in various areas and also acquire lands. Read more

Source : timesofindia.indiatimes.com

Govt shortchanged farmers?

GURGAON: Alleging that farmers and land owners have been shortchanged by the Haryana government, members of a citizens' body have alleged that HUDA "wrongfully" acquired land for the development of major and sector roads under the new master plan which covers 57 new sectors.

The members of the Gurgaon Citizens' Council have alleged that this act has not only benefited the private developers but has also left the state exchequer poorer by close to Rs 8,000 crore. The organization has written a letter to the state chief minister, Bhupinder Singh Hooda, to investigate the case. Read more

Source : timesofindia.indiatimes.com

How Megacities Are Changing The Way We Live

Amid a clutter of 24-hour arc lights, gigantic cranes and dumper trucks, a behemoth is rising out of a field of churned mud on the outskirts of Chengdu in south-west China. Commuters skirt its vast perimeter fence on their way to the new metro link that cuts under the city. They barely glance at what looks like just another huge construction project in a cityscape that changes every month.

This project, though, is different. When finished later this year, its developers proudly boast, it will be the world’s largest standalone building. The New Century Global Centre is a leisure complex that will house two 1,000-room five-star hotels, an ice rink, a luxury Imax cinema, vast shopping malls and a 20,000-capacity indoor swimming pool with 400 metres of “coastline” and a fake beach the size of 10 football pitches complete with its own seaside village. Alongside will be another massive and futuristic structure, a contemporary arts centre designed by the award-winning Iraqi-born architect, Zaha Hadid. Read more

Source : psfk.com

High-tech townships being promoted as dream destinations by builders

Construction of two high-tech cities (over 2,500-4 ,500 acres) is underway near Ghaziabad and Greater Noida, within the NCR, after the clearance from the government.

High rise township

With facilities like schools, playgrounds, a golf course, hospitals, internal roads, shopping centres, malls, etc, under one roof, these projects have caught the attention of homebuyers. In the first phase, slated to be complete in 4-5 years, more than 10,000 flats will be available in these high-tech city projects. Read more

Source : economictimes.indiatimes.com

Boomburbs: the next urban wave

The near double digit growth rate in India is bringing in its wake migration of people, both highly skilled and unskilled, from the hinterland to urban centres. India now has nearly 400 million people living in urban areas, having added 50 million of them in the last decade alone.

This wave of growth is impacting how existing cities are expanding and new cities are being built, by design and by accident. To address this growth, the government is planning to build new cities, both next to existing ones and at ‘greenfield’ locations, as growth in existing megacities is spilling over to their suburbs and the inherent deficiencies in planning, or the lack of it, are choking them. Read more

Source : indianexpress.com

Small town, big spends

Non metro cities hold tremendous potential for marketers

Coimbatore skyline. Photo:M. Periasamy

Don't dismiss the small towns. That's where the big pockets are, when it comes to quantifying the purchasing power of the country. Recent research has shown that cities such as Chandigarh, Ahmedabad, Jaipur, Lucknow, Indore and Pune have three quarters or more of the affluence levels of Mumbai.

This is precisely why marketers are rushing towards smaller towns. Their enthusiasm, according to a MART study, is also triggered by the availability of adequate land at a reasonable price. These towns have the advantage of low construction costs and lower rentals. Read more

Source : thehindu.com

New city to reclaim old Patna

Having officially stepped on the road to Bihar’s development, architect Hafeez Contractor feels Patna can join the league of the most beautiful cities across the globe through meticulous planning

Architect Hafeez Contractor

Rating the Bihar capital as a tier-III city in the country at present with “poor” development, architect Hafeez Contractor sketched a bright future for the riverside city with a meticulous planning mantra. Read more

Source : telegraphindia.com