A leading builder from Pune has done the unthinkable. Krome builders is offering 1BHK and 2BHK flats on the outskirts of Pune at half the existing rate in the area. Krome is planning to construct a 425 apartment complex spread over 400 acres in Vishrantwadi, which is a 20-minute drive from Koregaon Park a posh Pune locality.
While the rates in Vishrantwadi are between Rs 2,800-3,500 per sq ft, Krome is offering flats at Rs 1,500-2,000 per sq ft. This means a flat measuring 300 to 750 sq ft will cost you anywhere between Rs 5 to 15 lakh. The project will be launched in August and bookings start in the same month. Nainesh Nandu, managing director, Krome, said, "With the slashed rates, the profit margin will be a little less. But we will buy construction equipment in bulk and optimise our resources. We plan to use vitrified tiles, aluminum windows and sanitary ware of the best quality. If people think we will compromise on quality, they are mistaken. They can have a look at our other projects."Krome's competitors are stunned by the move. Michele Arora of Property Help, a brokerage firm in Pune, said, "Buyers will be attracted to the project if the builder offers flats at 50 per cent discount." Meanwhile, builders in Mumbai say it's impossible to adopt a similar strategy here. A realty expert, who did not wish to be named, said, "Builders in Mumbai need huge profits. That's the only reason they are unwilling to reduce the rates."A prominent builder said, "We are here to do business, not charity." Rajesh Vardhan of the Vardhaman Group says land rates are too high in the city for a similar move. But Vibhoo Mehra of Mumbai Properties, a brokerage firm, said, "The land rates are a lot cheaper in the suburbs. I don't understand why the builders can't slash rates in those areas."
Free BMW, gold with bungalow Krome builders that was earlier known as Kubix Realties had offered buyers a BMW car, two kilos of gold or a year's EMI free with their 5,400 sq ft, Rs 2.98-crore bungalow in Pune in November. The bungalow had four bedrooms, a servant's room, three parking lots, and a password protected personalised elevator. The door locks were also password-protected
Sunday, August 16, 2009
High Powered committee clears two DCR 33(9) cluster projects in favour of Nish Developers and Shreepati Group
The skyline is set for a drastic change with the high-power committee for cluster redevelopment giving the go-ahead to two projects at Girgaum and Parel each. All low-rises here would be mowed down to make way for skyscrapers.
The two projects, one by Nish Developers and the other by Shreepati Group, will be the first among several similar projects expected to come up on prime plots. The minutes of a committee meeting, released on Thursday, say the panel will forward these two proposals to the government for approval under the recently amended DCR 33 (9) that allows a higher vertical limit when building clusters in a minimum area of one acre are redeveloped.
Developers can profit by selling 55 to 80 per cent of the area used for rehabilitating tenants. The project by Shreepati Group will see ground-floor to four-storey-high structures being razed and replaced by 15 to 45 storey highrises. A total 735 tenants from Pimpalwadi, Sukhanand chawl and Amarwadi at Girgaum will be rehoused in flats with a minimum area of 300 sq ft while the developer will make his profit by selling flats in two 50-storey towers. The project will now be forwarded to the urban development department.
At the 26,321 sq m New Islam Mill compound in Parel, Nish Developers will construct 22- to 50-storey towers. “It is a private mill and has been defunct for 74 years,” said developer Kailash Agarwal. The 650, second-generation workers’ families staying in 80 sq ft flats with common toilets will now be rehoused in flats of 300 sq ft.
In both projects, some flats will be handed over to the Maharashtra Housing and Area Development Authority for public housing. 33A third proposal, for redevelopment of Bhendi Bazaar by Saifee Burhani Trust, will be taken up again at the committee’s next meeting. While several have voiced fears that the mounting number of highrises will hit infrastructure, municipal commissioner Jairaj Phatak, chairman of the committee, said, “The developers will have to pay infrastructure charges which will offset the money spent on augmenting water supply and sewerage.”
He said the construction will contribute to the BMC’s coffers in terms of the octroi levied on the material brought in as well as higher property taxes.
Upgrade-IShreepati Group: developer RR ChaturvediArea: 12,318 sq m at Pimpalwadi (left) in Girgaum Now: 25 structures, up to G+4 Proposed: Rehab into one G+15, three G+22; besides one G+39, two G+45 for saleCost estimate: Rs 300 crore
Upgrade-IINish Developers; developer Kailash Agarwal Area: 26,321 sq m on New Islam Mill compound, Parel Now: Six G+4 residential; 85 ground floor commercialProposed: Rehab into six G+22 residential, one G+35 commercial structures; besides two G+50 for saleCost estimate: Rs 700 crore
The two projects, one by Nish Developers and the other by Shreepati Group, will be the first among several similar projects expected to come up on prime plots. The minutes of a committee meeting, released on Thursday, say the panel will forward these two proposals to the government for approval under the recently amended DCR 33 (9) that allows a higher vertical limit when building clusters in a minimum area of one acre are redeveloped.
Developers can profit by selling 55 to 80 per cent of the area used for rehabilitating tenants. The project by Shreepati Group will see ground-floor to four-storey-high structures being razed and replaced by 15 to 45 storey highrises. A total 735 tenants from Pimpalwadi, Sukhanand chawl and Amarwadi at Girgaum will be rehoused in flats with a minimum area of 300 sq ft while the developer will make his profit by selling flats in two 50-storey towers. The project will now be forwarded to the urban development department.
At the 26,321 sq m New Islam Mill compound in Parel, Nish Developers will construct 22- to 50-storey towers. “It is a private mill and has been defunct for 74 years,” said developer Kailash Agarwal. The 650, second-generation workers’ families staying in 80 sq ft flats with common toilets will now be rehoused in flats of 300 sq ft.
In both projects, some flats will be handed over to the Maharashtra Housing and Area Development Authority for public housing. 33A third proposal, for redevelopment of Bhendi Bazaar by Saifee Burhani Trust, will be taken up again at the committee’s next meeting. While several have voiced fears that the mounting number of highrises will hit infrastructure, municipal commissioner Jairaj Phatak, chairman of the committee, said, “The developers will have to pay infrastructure charges which will offset the money spent on augmenting water supply and sewerage.”
He said the construction will contribute to the BMC’s coffers in terms of the octroi levied on the material brought in as well as higher property taxes.
Upgrade-IShreepati Group: developer RR ChaturvediArea: 12,318 sq m at Pimpalwadi (left) in Girgaum Now: 25 structures, up to G+4 Proposed: Rehab into one G+15, three G+22; besides one G+39, two G+45 for saleCost estimate: Rs 300 crore
Upgrade-IINish Developers; developer Kailash Agarwal Area: 26,321 sq m on New Islam Mill compound, Parel Now: Six G+4 residential; 85 ground floor commercialProposed: Rehab into six G+22 residential, one G+35 commercial structures; besides two G+50 for saleCost estimate: Rs 700 crore
High Powered committee clears two DCR 33(9) cluster projects in favour of Nish Developers and Shreepati Group
The skyline is set for a drastic change with the high-power committee for cluster redevelopment giving the go-ahead to two projects at Girgaum and Parel each. All low-rises here would be mowed down to make way for skyscrapers.
The two projects, one by Nish Developers and the other by Shreepati Group, will be the first among several similar projects expected to come up on prime plots. The minutes of a committee meeting, released on Thursday, say the panel will forward these two proposals to the government for approval under the recently amended DCR 33 (9) that allows a higher vertical limit when building clusters in a minimum area of one acre are redeveloped.
Developers can profit by selling 55 to 80 per cent of the area used for rehabilitating tenants. The project by Shreepati Group will see ground-floor to four-storey-high structures being razed and replaced by 15 to 45 storey highrises. A total 735 tenants from Pimpalwadi, Sukhanand chawl and Amarwadi at Girgaum will be rehoused in flats with a minimum area of 300 sq ft while the developer will make his profit by selling flats in two 50-storey towers. The project will now be forwarded to the urban development department.
At the 26,321 sq m New Islam Mill compound in Parel, Nish Developers will construct 22- to 50-storey towers. “It is a private mill and has been defunct for 74 years,” said developer Kailash Agarwal. The 650, second-generation workers’ families staying in 80 sq ft flats with common toilets will now be rehoused in flats of 300 sq ft.
In both projects, some flats will be handed over to the Maharashtra Housing and Area Development Authority for public housing. 33A third proposal, for redevelopment of Bhendi Bazaar by Saifee Burhani Trust, will be taken up again at the committee’s next meeting. While several have voiced fears that the mounting number of highrises will hit infrastructure, municipal commissioner Jairaj Phatak, chairman of the committee, said, “The developers will have to pay infrastructure charges which will offset the money spent on augmenting water supply and sewerage.”
He said the construction will contribute to the BMC’s coffers in terms of the octroi levied on the material brought in as well as higher property taxes.
Upgrade-IShreepati Group: developer RR ChaturvediArea: 12,318 sq m at Pimpalwadi (left) in Girgaum Now: 25 structures, up to G+4 Proposed: Rehab into one G+15, three G+22; besides one G+39, two G+45 for saleCost estimate: Rs 300 crore
Upgrade-IINish Developers; developer Kailash Agarwal Area: 26,321 sq m on New Islam Mill compound, Parel Now: Six G+4 residential; 85 ground floor commercialProposed: Rehab into six G+22 residential, one G+35 commercial structures; besides two G+50 for saleCost estimate: Rs 700 crore
The two projects, one by Nish Developers and the other by Shreepati Group, will be the first among several similar projects expected to come up on prime plots. The minutes of a committee meeting, released on Thursday, say the panel will forward these two proposals to the government for approval under the recently amended DCR 33 (9) that allows a higher vertical limit when building clusters in a minimum area of one acre are redeveloped.
Developers can profit by selling 55 to 80 per cent of the area used for rehabilitating tenants. The project by Shreepati Group will see ground-floor to four-storey-high structures being razed and replaced by 15 to 45 storey highrises. A total 735 tenants from Pimpalwadi, Sukhanand chawl and Amarwadi at Girgaum will be rehoused in flats with a minimum area of 300 sq ft while the developer will make his profit by selling flats in two 50-storey towers. The project will now be forwarded to the urban development department.
At the 26,321 sq m New Islam Mill compound in Parel, Nish Developers will construct 22- to 50-storey towers. “It is a private mill and has been defunct for 74 years,” said developer Kailash Agarwal. The 650, second-generation workers’ families staying in 80 sq ft flats with common toilets will now be rehoused in flats of 300 sq ft.
In both projects, some flats will be handed over to the Maharashtra Housing and Area Development Authority for public housing. 33A third proposal, for redevelopment of Bhendi Bazaar by Saifee Burhani Trust, will be taken up again at the committee’s next meeting. While several have voiced fears that the mounting number of highrises will hit infrastructure, municipal commissioner Jairaj Phatak, chairman of the committee, said, “The developers will have to pay infrastructure charges which will offset the money spent on augmenting water supply and sewerage.”
He said the construction will contribute to the BMC’s coffers in terms of the octroi levied on the material brought in as well as higher property taxes.
Upgrade-IShreepati Group: developer RR ChaturvediArea: 12,318 sq m at Pimpalwadi (left) in Girgaum Now: 25 structures, up to G+4 Proposed: Rehab into one G+15, three G+22; besides one G+39, two G+45 for saleCost estimate: Rs 300 crore
Upgrade-IINish Developers; developer Kailash Agarwal Area: 26,321 sq m on New Islam Mill compound, Parel Now: Six G+4 residential; 85 ground floor commercialProposed: Rehab into six G+22 residential, one G+35 commercial structures; besides two G+50 for saleCost estimate: Rs 700 crore
PEATA urges Heritage panel to relax regulations
A Leading body of Architects and Engineers, which feels that the city’s stringent heritage regulations are getting in the way of construction activity, has submitted a list of suggestions to the Heritage Panel.
The Practising Engineers', Architects' and Town Planners' Association (PEATA), led by president Manoj Dahisaria, met chairman Dinesh Afzulpurkar and other members of the Mumbai Heritage Conservation Committee on Thursday. The heritage committee is currently reviewing its laws in order to "strike a balance between developmental needs and conservation''. Some of the guidelines being considered for adaptation have been drafted from the local laws of Ahmedabad and Hyderabad. These allow construction work at a distance of 30 m from Grade I structures rather than limit them 100 m away, as Mumbai's regulations do. Dahisaria said, "Development is an important issue for the city that can only grow vertically for lack of space. Redevelopment projects are being sidelined due to the inordinate emphasis on conservation." Citing the example of Five Gardens, Dahisaria said, "We are prevented from developing specific precincts. This overenthusiasm needs to be curtailed. We are happy that the heritage panel understands and appreciates our viewpoint.'' Afzulpurkar said he would forward PEATA's proposal to the state government. City historian Sharada Dwivedi is alarmed at the prospect. "Relaxation of the laws will certainly jeopardise the heritage we will leave behind for our children.''
The Practising Engineers', Architects' and Town Planners' Association (PEATA), led by president Manoj Dahisaria, met chairman Dinesh Afzulpurkar and other members of the Mumbai Heritage Conservation Committee on Thursday. The heritage committee is currently reviewing its laws in order to "strike a balance between developmental needs and conservation''. Some of the guidelines being considered for adaptation have been drafted from the local laws of Ahmedabad and Hyderabad. These allow construction work at a distance of 30 m from Grade I structures rather than limit them 100 m away, as Mumbai's regulations do. Dahisaria said, "Development is an important issue for the city that can only grow vertically for lack of space. Redevelopment projects are being sidelined due to the inordinate emphasis on conservation." Citing the example of Five Gardens, Dahisaria said, "We are prevented from developing specific precincts. This overenthusiasm needs to be curtailed. We are happy that the heritage panel understands and appreciates our viewpoint.'' Afzulpurkar said he would forward PEATA's proposal to the state government. City historian Sharada Dwivedi is alarmed at the prospect. "Relaxation of the laws will certainly jeopardise the heritage we will leave behind for our children.''
Inquiries to buy flats increasing in city
Buyers may have been conspicuous by their absence despite property prices correcting upto 35% in the past one year. But a stable government at the Centre seems to have given a fillip to the city's property market. In the past few weeks, real estate brokers and developers say there has been an increase in the number of inquires for flats, and in some cases, deals have been struck.
Though property experts differ to whether this revival of interest is genuine or it is a sign of prices more or less bottoming out, developers are taking the opportunity to entice fence sitters to book flats by hiking rates.
"Buyers are not very keen to buy underconstruction property as they are not very sure that the projects will be completed on schedule. Also, interest costs are involved, making underconstruction properties more expensive. As a result, they are queing up to buy ready properties which is in short supply with most builders. Taking advantage of this, developers are hiking the price to cash in on increased demand,'' said Mahesh Ahuja of Dreamz Housing Ltd at Thane, who in the past few weeks have struck 5 deals.
Echoing a similar view, Rajiv Jain of Jaisons Property Management who has sold 2 flats in Bandra, said, "The reason people are buying is rates have reduced substantially upto 30%. People also believe the economy is doing good. The improved sentiments is reflecting their confidence to purchase.''
Prakash Ahuja of Prakash Estates in Andheri says though there is a renewed interest, the buyers are not those who have to take a home loan of upto 80%. "If a flat is worth say Rs2 crore, these buyers are those who need to loan of just Rs40-50 lakh. They have money that just needs to be parked somewhere,'' said Ahuja. Chauhan of Bharat Estates at Kandivili said that the market is very fluid and it will be some time before it becomes clear whether the trend (sales) will continue.
Interestingly, property consultants like Pranay Vakil, chairman of Knight Frank and S Sriniwasan, executive director of Kotak Realty Fund, said that correction is more or less over. "Correction is more or less over. Prices will not go up in the next six months as there is lot of volume in the market. Pricing would be more or less firm,'' said Vakil.
"Despite the hype due to the budget, developers will not reduce or hike the rate if he has sold 80% of the total flats. The eagerness to offload would be less as the real estate sentiments are much better now.''
Sriniwasan said, "Any future correction would be due to passage of time. There will be no price hike as there is a lot of supply in the suburbs beyond Bandra. So, if a buyer purchases a property in January 2010, he is likely to find almost the same rate as prevailing currently.''
The experts' views apart, the ground reality seems to be a tad different. DLF, a major realty giant, is still not out of the red. They have backed out of their plans to set up four Special Economic Zones in the country. The company has sold its stake of 5 acres of the 8 acres it purchased jointly with Akruti City at Prabhadevi.
A majority of developers have stalled projects and adopted cost-cutting measures by reducing some staff in order to remain cash-rich in the economic crises. Pankaj Kapoor of Liases Foras, a real estate rating agency, said: "Actually, it is a mystery to me to how developers are claiming sales when the market is still sluggish. I believe that there is still scope for another 20% correction. There is a huge volume of almost 3 crore sq ft of ready flats available in the market and that is bound to affect the pricing.''
Though property experts differ to whether this revival of interest is genuine or it is a sign of prices more or less bottoming out, developers are taking the opportunity to entice fence sitters to book flats by hiking rates.
"Buyers are not very keen to buy underconstruction property as they are not very sure that the projects will be completed on schedule. Also, interest costs are involved, making underconstruction properties more expensive. As a result, they are queing up to buy ready properties which is in short supply with most builders. Taking advantage of this, developers are hiking the price to cash in on increased demand,'' said Mahesh Ahuja of Dreamz Housing Ltd at Thane, who in the past few weeks have struck 5 deals.
Echoing a similar view, Rajiv Jain of Jaisons Property Management who has sold 2 flats in Bandra, said, "The reason people are buying is rates have reduced substantially upto 30%. People also believe the economy is doing good. The improved sentiments is reflecting their confidence to purchase.''
Prakash Ahuja of Prakash Estates in Andheri says though there is a renewed interest, the buyers are not those who have to take a home loan of upto 80%. "If a flat is worth say Rs2 crore, these buyers are those who need to loan of just Rs40-50 lakh. They have money that just needs to be parked somewhere,'' said Ahuja. Chauhan of Bharat Estates at Kandivili said that the market is very fluid and it will be some time before it becomes clear whether the trend (sales) will continue.
Interestingly, property consultants like Pranay Vakil, chairman of Knight Frank and S Sriniwasan, executive director of Kotak Realty Fund, said that correction is more or less over. "Correction is more or less over. Prices will not go up in the next six months as there is lot of volume in the market. Pricing would be more or less firm,'' said Vakil.
"Despite the hype due to the budget, developers will not reduce or hike the rate if he has sold 80% of the total flats. The eagerness to offload would be less as the real estate sentiments are much better now.''
Sriniwasan said, "Any future correction would be due to passage of time. There will be no price hike as there is a lot of supply in the suburbs beyond Bandra. So, if a buyer purchases a property in January 2010, he is likely to find almost the same rate as prevailing currently.''
The experts' views apart, the ground reality seems to be a tad different. DLF, a major realty giant, is still not out of the red. They have backed out of their plans to set up four Special Economic Zones in the country. The company has sold its stake of 5 acres of the 8 acres it purchased jointly with Akruti City at Prabhadevi.
A majority of developers have stalled projects and adopted cost-cutting measures by reducing some staff in order to remain cash-rich in the economic crises. Pankaj Kapoor of Liases Foras, a real estate rating agency, said: "Actually, it is a mystery to me to how developers are claiming sales when the market is still sluggish. I believe that there is still scope for another 20% correction. There is a huge volume of almost 3 crore sq ft of ready flats available in the market and that is bound to affect the pricing.''
Service Tax refund in SEZ zones
F.No.354/163/2006-TRU
Government of India
Ministry of Finance Department of Revenue
(Tax Research Unit)
*****
Room No.153, North Block,
New Delhi, the May 20, 2009.
Circular No. 114/08/2009-ST
Subject: Refund of service tax paid on taxable services which are provided in relation to the authorised operations in a Special Economic Zone – Reg.
Notification No.9/2009-Service Tax, dated 3.3.2009 was issued to provide refund of service tax paid on taxable services specified in section 65(105) of the Finance Act, 1994 which are provided in relation to the authorised operations (as defined under SEZ Act, 2005) in a Special Economic Zone (SEZ), and received by a developer or units of a SEZ, whether or not the said taxable services are provided inside the SEZ.
2. Notification No. 15/2009-Service Tax, dated 20.05.2009 has been issued to amend the aforesaid Notification 9/200-ST dated 3.3.2009 to provide unconditional exemption to services consumed within the SEZ without following the refund route thus dispensing with the requirement of first paying the tax by the service provider and then claiming the refund thereof by developer/unit. The exemption by way of refund would be limited to situations only when taxable services provided to SEZ are consumed partially or wholly outside SEZ.
3. In cases where refund needs to be claimed, notification No. 15/2009-Service Tax, dated 20.05.2009 provides for certain conditions. One of the conditions is that the Assistant / Deputy Commissioner should satisfy himself that the said services have been actually used in relation to the authorised operations in the SEZ. This may be primarily done through the documents submitted with the claim. The notification requires that the refund claim shall be accompanied by the following documents,-
(i) a copy of the list of specified services required in relation to the authorised operations in the SEZ, as approved by the Approval Committee;
(ii) documents evidencing payment of service tax.
5. The Assistant / Deputy Commissioner may, in select cases, especially where the refund amount claimed is significant cause verification of the end-use of services consumed for which refund claim is filed.
6. Board’s Circular No. 809/06/2005-CX, dated 01.03.2005 read with Circular No.857/15/2007-CX, dated 02.11.2007 which prescribes the procedure relating to sanction and pre-audit of refund / rebate claims, shall apply mutatis mutandis to cases where the individual refund claim amount exceeds Rs.5 lakh under the said notification.
7. As regards the issues relating to jurisdiction for the purposes of refund of service tax, STC code to be issued to the developer or unit of a SEZ and document evidencing payment of service tax, Board’s Circulars No. 101 /4 /2008-ST, dated the 12th May, 08 and No. 106 /9 /2008-ST dated the 11th December, 08 shall apply mutatis mutandis to the refund scheme under this notification. 80% of the due refund amount is to be sanctioned as adhoc interim refund to developer or unit of SEZ, within 15 days of filing of a refund claim, subject to the condition that refund claim is complete and contains the requisite documents.
8. It is reiterated that refund of service tax paid on taxable services used in relation to the authorised operations in the SEZ should be disposed of expeditiously. The refund claims should be finalized within a maximum period of 30 days from the date of filing of refund claim and in any case not beyond 45 days from the date of filing of the refund claim.
9. Commissioners are advised to put in place a system of review and monitoring of disposal of refund claims filed and disposed within the prescribed time limits.
10. Any difficulty faced in implementing the above provisions may be immediately brought to the notice of the undersigned.
(J. M. Kennedy)
Director (TRU)
Government of India
Ministry of Finance Department of Revenue
(Tax Research Unit)
*****
Room No.153, North Block,
New Delhi, the May 20, 2009.
Circular No. 114/08/2009-ST
Subject: Refund of service tax paid on taxable services which are provided in relation to the authorised operations in a Special Economic Zone – Reg.
Notification No.9/2009-Service Tax, dated 3.3.2009 was issued to provide refund of service tax paid on taxable services specified in section 65(105) of the Finance Act, 1994 which are provided in relation to the authorised operations (as defined under SEZ Act, 2005) in a Special Economic Zone (SEZ), and received by a developer or units of a SEZ, whether or not the said taxable services are provided inside the SEZ.
2. Notification No. 15/2009-Service Tax, dated 20.05.2009 has been issued to amend the aforesaid Notification 9/200-ST dated 3.3.2009 to provide unconditional exemption to services consumed within the SEZ without following the refund route thus dispensing with the requirement of first paying the tax by the service provider and then claiming the refund thereof by developer/unit. The exemption by way of refund would be limited to situations only when taxable services provided to SEZ are consumed partially or wholly outside SEZ.
3. In cases where refund needs to be claimed, notification No. 15/2009-Service Tax, dated 20.05.2009 provides for certain conditions. One of the conditions is that the Assistant / Deputy Commissioner should satisfy himself that the said services have been actually used in relation to the authorised operations in the SEZ. This may be primarily done through the documents submitted with the claim. The notification requires that the refund claim shall be accompanied by the following documents,-
(i) a copy of the list of specified services required in relation to the authorised operations in the SEZ, as approved by the Approval Committee;
(ii) documents evidencing payment of service tax.
5. The Assistant / Deputy Commissioner may, in select cases, especially where the refund amount claimed is significant cause verification of the end-use of services consumed for which refund claim is filed.
6. Board’s Circular No. 809/06/2005-CX, dated 01.03.2005 read with Circular No.857/15/2007-CX, dated 02.11.2007 which prescribes the procedure relating to sanction and pre-audit of refund / rebate claims, shall apply mutatis mutandis to cases where the individual refund claim amount exceeds Rs.5 lakh under the said notification.
7. As regards the issues relating to jurisdiction for the purposes of refund of service tax, STC code to be issued to the developer or unit of a SEZ and document evidencing payment of service tax, Board’s Circulars No. 101 /4 /2008-ST, dated the 12th May, 08 and No. 106 /9 /2008-ST dated the 11th December, 08 shall apply mutatis mutandis to the refund scheme under this notification. 80% of the due refund amount is to be sanctioned as adhoc interim refund to developer or unit of SEZ, within 15 days of filing of a refund claim, subject to the condition that refund claim is complete and contains the requisite documents.
8. It is reiterated that refund of service tax paid on taxable services used in relation to the authorised operations in the SEZ should be disposed of expeditiously. The refund claims should be finalized within a maximum period of 30 days from the date of filing of refund claim and in any case not beyond 45 days from the date of filing of the refund claim.
9. Commissioners are advised to put in place a system of review and monitoring of disposal of refund claims filed and disposed within the prescribed time limits.
10. Any difficulty faced in implementing the above provisions may be immediately brought to the notice of the undersigned.
(J. M. Kennedy)
Director (TRU)
Extra FSI for private plots in Dharavi
Owners of private land pockets in Dharavi that have so far been kept out of the purview of the Rs 15,000 crore Dharavi Redevelopment Project (DRP), can now avail of higher vertical limit in case they decide to be part of the project.
A month before the financial bids for the project are set to be opened, the state government has decided to amend the development control rules so that privately-owned land pockets totalling five hectares can get a Floor Space Index (FSI) of 4, which is at par with the clusters of slums that are part of the project.
As of now, the private plots have a FSI cap of 1.33 as is the norm in the rest of the island city. “If these plot owners join the project, their plots would not stand out incongruously when the rest of Dharavi is developed later. The state will give them an additional FSI of 2.66 over and above the prevailing FSI. However, landlords will have to purchase this FSI by paying a premium that will go to the Dharavi Development Authority,” said a senior state government official.
Till now, only 150 hectares of the total 240 hectares of land in Dharavi were included in the DRP. The slums will be razed to make way for highrises, where eligible slumdwellers will be housed in flats with a minimum area of 269 sq ft.
Of the remaining land, five hectares is privately owned while the rest of the 85 hectares comprise the green zone under Mahim nature park, a sports complex, BEST bus depot, roads, a cemetery and land owned by the railways. The private plots belong to Tata Power, Estrella battery, Johnson and Johnson as well as a few residential buildings.
A month before the financial bids for the project are set to be opened, the state government has decided to amend the development control rules so that privately-owned land pockets totalling five hectares can get a Floor Space Index (FSI) of 4, which is at par with the clusters of slums that are part of the project.
As of now, the private plots have a FSI cap of 1.33 as is the norm in the rest of the island city. “If these plot owners join the project, their plots would not stand out incongruously when the rest of Dharavi is developed later. The state will give them an additional FSI of 2.66 over and above the prevailing FSI. However, landlords will have to purchase this FSI by paying a premium that will go to the Dharavi Development Authority,” said a senior state government official.
Till now, only 150 hectares of the total 240 hectares of land in Dharavi were included in the DRP. The slums will be razed to make way for highrises, where eligible slumdwellers will be housed in flats with a minimum area of 269 sq ft.
Of the remaining land, five hectares is privately owned while the rest of the 85 hectares comprise the green zone under Mahim nature park, a sports complex, BEST bus depot, roads, a cemetery and land owned by the railways. The private plots belong to Tata Power, Estrella battery, Johnson and Johnson as well as a few residential buildings.
State to map coastal zone areas with the help of satellites and post them online
If you are wary of coastal norms when buying property or even a flat in the city, the environment department’s proposal may come as a relief to you. The State government has decided to map Coastal Regualtory Zone (CRZ) areas along the 720-Km coastline. The cabinet cleared the plan on Wednesday.
The CRZ stretches will be mapped by Nagpur-based Maharashtra Remote Sensing Application Centre (MRSAC) with a resolution of 1:4000. This means even with just the property survey number, you can find out whether it falls in the CRZ area.
This Survey will be carried out first in parts of Thane, Raigad and Sindhudurg coast. In the next phase, the state will carry out a similar exercise for Mumbai. Here, the resolution of the maps will be much higher at 1:400,” said Valsa Nair, environment secretary.
It will be done with the help of satellites and will be made available online for the citizens. Armed with this information, it will be easy to find out whether the construction is permitted here and what the exact environment norms are.
Coastal Stretches up to 500 meters of high tide line and the land between the high tide and low tide lines is designated as CRZ. “One of the reasons touted is the lack of clarity about the exact CRZ boundaries and norms. Once we carry out the survey, there will be more clarity about coastal norms, the CRZ boundaries. There also won’t be a scope for confusion or misuse,” says Environment Secretary, Valsa Nair.
The CRZ stretches will be mapped by Nagpur-based Maharashtra Remote Sensing Application Centre (MRSAC) with a resolution of 1:4000. This means even with just the property survey number, you can find out whether it falls in the CRZ area.
This Survey will be carried out first in parts of Thane, Raigad and Sindhudurg coast. In the next phase, the state will carry out a similar exercise for Mumbai. Here, the resolution of the maps will be much higher at 1:400,” said Valsa Nair, environment secretary.
It will be done with the help of satellites and will be made available online for the citizens. Armed with this information, it will be easy to find out whether the construction is permitted here and what the exact environment norms are.
Coastal Stretches up to 500 meters of high tide line and the land between the high tide and low tide lines is designated as CRZ. “One of the reasons touted is the lack of clarity about the exact CRZ boundaries and norms. Once we carry out the survey, there will be more clarity about coastal norms, the CRZ boundaries. There also won’t be a scope for confusion or misuse,” says Environment Secretary, Valsa Nair.
Apex court will become the ultimate authority for final green clearances on new industrial projects
To avoid a confrontation with the judiciary, the government has decided to replace the proposed National Environment Tribunal with a green bench to be formed by Supreme Court judges.
The national green bench will be the highest judicial body to deal with environment related court cases, especially those where industrial plans are often ranged against civil society concerns. All civil disputes relating to mandatory environmental and forest clearances required for new industrial projects will be settled by this bench.
“The whole idea behind setting up the green bench is to form a specialised tribunal of judges with the ultimate authority resting with the Supreme Court.” Jairam Ramesh (pictured), Union minister for environment and forest.
Setting up the bench means the government has jettisoned the National Environment Tribunal Bill 2007 that would have clipped the authority of the judiciary at several levels to deal with environment issues. The Cabinet note circulated by the ministry of environment & forests notes that the bench would also replace the National Environment Tribunal, which was never notified as well as the National Environment Appellate Authority.
Ramesh said his ministry has moved a Cabinet note to set up this specialised judicial body. He also clarified that the ministry is working out a proposal to reconcile the working of the new green bench with the various committees set up to assist the Supreme Court in various environment-related cases. About 50 disputes relating mostly to mining, hydel and coal-based power projects are lying with the Supreme Court, as they have run into environmental and forest clearance related obstacles.
Applauding ‘judicial activism’, which took the lead in environmental protection, the minister said he is looking forward to work closely with the courts to ensure that environmental laws in the country are adhered to. According to Ritwick Dutta, a Delhi-based lawyer specialising in environmental issues, the government did not notify setting up of the environment tribunal nor the appellate authority despite setting up the latter in 1997. No key officials have been appointed to the authority so far.
The position of chairman to NEAA is vacant for last nine years and position of vice-chairman is vacant for the last four years.
Making environmental and forest clearances of industrial projects transparent, the environment ministry has changed the Environment (Protection) Rules, 1986. It is now mandatory for project developers to make public the ministry's clearance letter.
The compliance status of the project promoters also needs to be put in the Public Domain. The ministry proposes to put the status of all the 250 pending industrial projects for environmental and forest clearances online, for getting response from the public. The mandatory Environmental Impact Assessment norms makes the maximum time for clearances to 210 days for environment and 150 days for forests.
The national green bench will be the highest judicial body to deal with environment related court cases, especially those where industrial plans are often ranged against civil society concerns. All civil disputes relating to mandatory environmental and forest clearances required for new industrial projects will be settled by this bench.
“The whole idea behind setting up the green bench is to form a specialised tribunal of judges with the ultimate authority resting with the Supreme Court.” Jairam Ramesh (pictured), Union minister for environment and forest.
Setting up the bench means the government has jettisoned the National Environment Tribunal Bill 2007 that would have clipped the authority of the judiciary at several levels to deal with environment issues. The Cabinet note circulated by the ministry of environment & forests notes that the bench would also replace the National Environment Tribunal, which was never notified as well as the National Environment Appellate Authority.
Ramesh said his ministry has moved a Cabinet note to set up this specialised judicial body. He also clarified that the ministry is working out a proposal to reconcile the working of the new green bench with the various committees set up to assist the Supreme Court in various environment-related cases. About 50 disputes relating mostly to mining, hydel and coal-based power projects are lying with the Supreme Court, as they have run into environmental and forest clearance related obstacles.
Applauding ‘judicial activism’, which took the lead in environmental protection, the minister said he is looking forward to work closely with the courts to ensure that environmental laws in the country are adhered to. According to Ritwick Dutta, a Delhi-based lawyer specialising in environmental issues, the government did not notify setting up of the environment tribunal nor the appellate authority despite setting up the latter in 1997. No key officials have been appointed to the authority so far.
The position of chairman to NEAA is vacant for last nine years and position of vice-chairman is vacant for the last four years.
Making environmental and forest clearances of industrial projects transparent, the environment ministry has changed the Environment (Protection) Rules, 1986. It is now mandatory for project developers to make public the ministry's clearance letter.
The compliance status of the project promoters also needs to be put in the Public Domain. The ministry proposes to put the status of all the 250 pending industrial projects for environmental and forest clearances online, for getting response from the public. The mandatory Environmental Impact Assessment norms makes the maximum time for clearances to 210 days for environment and 150 days for forests.
BMC to make a mandatory rule to replace water pipelines in residential buildings after every 15 years
BMC has decided to make it mandatory for housing socieites to replace their water pipes after every 15 years. The civic body loses 400 million litres of water daily because of leakages. The proposal of making it mandatory for housing societies to replace pipelines every 15 years has been agreed upon by Municipal commissioner Jairaj Phatak ‘ in principle’ and it will be tabled before the standing committee for approval on Wednesday.
The BMC and the state government have made structural audit of housing societies compulsory every 15 years. On this basis, the water pipelines should also be replaced every 15 years.
All the water lines are underground and very old. These old network of pipeline has corroded in the past hundred years and leaks at various points. Due to the leakages, the BMC is losing 400 million litres of water per day. Moreover, leakages in pipelines have led to contamination of water. If BMC makes it compulsory for housing societies to change pipelines every 15 years, it will help stop the leakages and save water.
BMC to make a mandatory rule to replace water pipelines in residential buildings after every 15 years
The BMC and the state government have made structural audit of housing societies compulsory every 15 years. On this basis, the water pipelines should also be replaced every 15 years.
All the water lines are underground and very old. These old network of pipeline has corroded in the past hundred years and leaks at various points. Due to the leakages, the BMC is losing 400 million litres of water per day. Moreover, leakages in pipelines have led to contamination of water. If BMC makes it compulsory for housing societies to change pipelines every 15 years, it will help stop the leakages and save water.
BMC to make a mandatory rule to replace water pipelines in residential buildings after every 15 years
BMC to amend DCR to install water recycling plant in every upcoming residential projects with over 200 flats
The Civic Body has decided to amend DCR to pave way for water recycling plant in every upcoming residential projects with over 200 flats. According to Additional Municipal Commissioner Anil Diggikar this rule will be incorporated in Development Control Regulations and all constructions with over 200 flats will have to comply.
State government issues public notice for Private Helipad at Cuffe Parade
GOVERNMENT OF MAHARASHTRA
ENVIRONMENT DEPARTMENT,
(MAHARASHTRA COASTAL ZONE MANAGEMENT AUTHORITY)
MANTRALAYA, MUMBAI- 400 032
PUBLIC NOTICE
Maharashtra Coastal Zone Management Authority (MCZMA) has received a proposal from M/s. Ruchi Properties Pvt. Ltd. seeking No Objection for establishing a rooftop helipad at Plot No. 39, Sea Wind, Cuffe Parade, Mumbai, which falls in Coastal Regulation Zone-II (CRZ-II). The helipad will be for private use and not for commercial service. It could, however, also be utilized for any emergency evacuation in case of fire, medical, natural calamities, disaster management and defense emergencies.
The Government of India in MoEF has permitted location of helipads on rooftops in Coastal Regulation Zone areas for private use under their Order of 25th February 2009. The said order gives the authority to MCZMA to grant permission for such proposals having investment less than Rs. 5.00 crores after considering suggestions/ objections of the residents in the vicinity, if any. Suggestions and objections, if any, are hereby invited from “A” Ward, Mumbai
residents for the proposed helipad.
These may be submitted in writing within 15 days of the date of publication of this Notice to: The Member Secretary, Maharashtra Costal Zone Management Authority, 2nd Floor, Room No. 217 (Annex), Manatralaya, Mumbai- 400032. Details of the proposal are available on the following pages.
Member Secretary
Maharashtra Coastal Zone Management Authority
Environment Department
Date: 3rd June 2009.
ENVIRONMENT DEPARTMENT,
(MAHARASHTRA COASTAL ZONE MANAGEMENT AUTHORITY)
MANTRALAYA, MUMBAI- 400 032
PUBLIC NOTICE
Maharashtra Coastal Zone Management Authority (MCZMA) has received a proposal from M/s. Ruchi Properties Pvt. Ltd. seeking No Objection for establishing a rooftop helipad at Plot No. 39, Sea Wind, Cuffe Parade, Mumbai, which falls in Coastal Regulation Zone-II (CRZ-II). The helipad will be for private use and not for commercial service. It could, however, also be utilized for any emergency evacuation in case of fire, medical, natural calamities, disaster management and defense emergencies.
The Government of India in MoEF has permitted location of helipads on rooftops in Coastal Regulation Zone areas for private use under their Order of 25th February 2009. The said order gives the authority to MCZMA to grant permission for such proposals having investment less than Rs. 5.00 crores after considering suggestions/ objections of the residents in the vicinity, if any. Suggestions and objections, if any, are hereby invited from “A” Ward, Mumbai
residents for the proposed helipad.
These may be submitted in writing within 15 days of the date of publication of this Notice to: The Member Secretary, Maharashtra Costal Zone Management Authority, 2nd Floor, Room No. 217 (Annex), Manatralaya, Mumbai- 400032. Details of the proposal are available on the following pages.
Member Secretary
Maharashtra Coastal Zone Management Authority
Environment Department
Date: 3rd June 2009.
Union govt directs state governments to guarantee Land titles
Government of India
Ministry of Urban Development
Dr. M. Ramachandran
Secretary
Ministry of Urban Development (Government of India)
D.O. No. N-11025/53/2007-UCD Dated the 25th March, 2009
Dear Chief Secretary/ All states,
As you are aware, introduction of property title certification system in Urban Local Bodies
is one of the key reforms under the Jawaharlal Nehru National Urban Renewal
Mission. All States and cities have committed to implement the reforms under the
Memorandum of Agreement signed with them. In order to help the cities and
States develop better understanding of various issues and options, I am enclosing a
brief on property title certification system containing recommendations of a Task
Force set up for the purpose which I hope would serve as a useful reference
document.
The objective of the reform is to enable the cities in moving towards
guaranteed title systems. It seeks to create a public record of titles which truly
describe the property as well as the title and has a system for reflecting any
transaction in real time. The current revenue records are at best presumptive and
do not convey title. Needless to say, a property title certification system would
require legal changes which can be effected through an overriding law for
amendments to existing laws. In this regard, States may find useful to learn from
experience of Andhra Pradesh and Rajasthan in order to arrive at solutions best
suited to them.
The record of titles could be created over a period of time. However, it is
envisaged that three sets of registers would be maintained: a) register of titles, b)
register of disputes and c) register of charges and covenants. There would be a
title registration officer, a land titling tribunal and a land titling appellate tribunal.
The title registration officer, a land titling tribunal and a land titling appellate
tribunal.
The title registration officer could be the collector or such other authority
as deemed appropriate by the States. However, it is important that the
responsibility of maintenance of land records is assigned to one department
ultimately. The register of titles; disputes; and charges and covenants together
would constitute the complete record of title of all lands. Once the initial exercise
of creating the three registers is completed, the register of titles could be notified
for filling of objections, if any, and properties with clarity of title could be taken as
conclusive. The States could then guarantee these titles. If records are accurately
maintained, the financial implications of such guarantee could be met from small
premium on guaranteed transactions.
It needs to be reiterated that a property title certification system is based on a
sound system of land records and efficient use of IT would be key to success to
ensure auto-updation and validation of transactions.
We intend to organize a workshop based on the enclosed brief as well as
Ground Rules earlier circulated on Challenges to Implementation of Security of
Land Title in Urban India soon for further facilitation of the process. We shall
revert soon. Meanwhile, the brief could be reviewed at the State level.
Yours sincerely,
Sd/-
(M. Ramachandran)
To
Chief Secretaries/Administrators
of all States and UTs
Ministry of Urban Development
Dr. M. Ramachandran
Secretary
Ministry of Urban Development (Government of India)
D.O. No. N-11025/53/2007-UCD Dated the 25th March, 2009
Dear Chief Secretary/ All states,
As you are aware, introduction of property title certification system in Urban Local Bodies
is one of the key reforms under the Jawaharlal Nehru National Urban Renewal
Mission. All States and cities have committed to implement the reforms under the
Memorandum of Agreement signed with them. In order to help the cities and
States develop better understanding of various issues and options, I am enclosing a
brief on property title certification system containing recommendations of a Task
Force set up for the purpose which I hope would serve as a useful reference
document.
The objective of the reform is to enable the cities in moving towards
guaranteed title systems. It seeks to create a public record of titles which truly
describe the property as well as the title and has a system for reflecting any
transaction in real time. The current revenue records are at best presumptive and
do not convey title. Needless to say, a property title certification system would
require legal changes which can be effected through an overriding law for
amendments to existing laws. In this regard, States may find useful to learn from
experience of Andhra Pradesh and Rajasthan in order to arrive at solutions best
suited to them.
The record of titles could be created over a period of time. However, it is
envisaged that three sets of registers would be maintained: a) register of titles, b)
register of disputes and c) register of charges and covenants. There would be a
title registration officer, a land titling tribunal and a land titling appellate tribunal.
The title registration officer, a land titling tribunal and a land titling appellate
tribunal.
The title registration officer could be the collector or such other authority
as deemed appropriate by the States. However, it is important that the
responsibility of maintenance of land records is assigned to one department
ultimately. The register of titles; disputes; and charges and covenants together
would constitute the complete record of title of all lands. Once the initial exercise
of creating the three registers is completed, the register of titles could be notified
for filling of objections, if any, and properties with clarity of title could be taken as
conclusive. The States could then guarantee these titles. If records are accurately
maintained, the financial implications of such guarantee could be met from small
premium on guaranteed transactions.
It needs to be reiterated that a property title certification system is based on a
sound system of land records and efficient use of IT would be key to success to
ensure auto-updation and validation of transactions.
We intend to organize a workshop based on the enclosed brief as well as
Ground Rules earlier circulated on Challenges to Implementation of Security of
Land Title in Urban India soon for further facilitation of the process. We shall
revert soon. Meanwhile, the brief could be reviewed at the State level.
Yours sincerely,
Sd/-
(M. Ramachandran)
To
Chief Secretaries/Administrators
of all States and UTs
Tata, L&T in fray to redo Mantralaya
The ambitious makeover project for the Mantralaya precinct has finally generated interest among developers, yet another indicator of the renewed optimism in the real estate sector. A few months ago, when tenders were first invited for the Rs 1,200-crore project at Nariman Point, it received a tepid response. Only three developers submitted offers but each quoted 30 per cent lower than the actual rates, forcing the government to invite fresh tenders.
Mantralaya sources said that this time, within days of calling for new bids, several top developers such as Tata Housing, Larson & Toubro, Hiranandani Developers, BE Billimoria and Company, Unity Infraprojects, Supreme Developers, Infrastructure Leasing & Financial Services Ltd (IL&FS), DB Realty and the Pune-based Kakade Group have already collected the tenders. The last date for submission is July 14.
Bipin Sankhe, chief architect of Maharashtra, refused to comment on the tenders collected but said, “We had called for tenders early this year before the code of conduct came into force. At that time, the market was going through a slump due to which we had to call for fresh tenders again. Today, after the elections, the market is much better and we expect a good response.”
The developer who clinches the deal will get a lucrative four-acre plot at Nariman Point on a build-operate-transfer basis. In return, the developer will have to renovate the Mantralaya, add a glass façade to the existing New Administrative Building and build an underground tunnel to link the two buildings to Vidhan Bhavan. Besides, the developer will also be required to construct a rest house for dignitaries, an MLA hostel and offices for political parties.
The rows of 20 quaint ministerial bungalows will be razed to make way for staggering 60-storey twin towers. Three such pairs of towers will be built for ministers, judges and bureaucrats. Ministers and judges would get about 30 luxurious duplexes, bureaucrats 60.
For the construction of the twin towers, the reservation of a 16,000 sq m public garden near Mantralaya and part of the 24-m-wide proposed road would be deleted, sources said. The design for the twin towers, prepared by Architect Raja Aederi Consultants, envisages private gardens on each floor of the highrise for every minister, judge and bureaucrat.
Mantralaya sources said that this time, within days of calling for new bids, several top developers such as Tata Housing, Larson & Toubro, Hiranandani Developers, BE Billimoria and Company, Unity Infraprojects, Supreme Developers, Infrastructure Leasing & Financial Services Ltd (IL&FS), DB Realty and the Pune-based Kakade Group have already collected the tenders. The last date for submission is July 14.
Bipin Sankhe, chief architect of Maharashtra, refused to comment on the tenders collected but said, “We had called for tenders early this year before the code of conduct came into force. At that time, the market was going through a slump due to which we had to call for fresh tenders again. Today, after the elections, the market is much better and we expect a good response.”
The developer who clinches the deal will get a lucrative four-acre plot at Nariman Point on a build-operate-transfer basis. In return, the developer will have to renovate the Mantralaya, add a glass façade to the existing New Administrative Building and build an underground tunnel to link the two buildings to Vidhan Bhavan. Besides, the developer will also be required to construct a rest house for dignitaries, an MLA hostel and offices for political parties.
The rows of 20 quaint ministerial bungalows will be razed to make way for staggering 60-storey twin towers. Three such pairs of towers will be built for ministers, judges and bureaucrats. Ministers and judges would get about 30 luxurious duplexes, bureaucrats 60.
For the construction of the twin towers, the reservation of a 16,000 sq m public garden near Mantralaya and part of the 24-m-wide proposed road would be deleted, sources said. The design for the twin towers, prepared by Architect Raja Aederi Consultants, envisages private gardens on each floor of the highrise for every minister, judge and bureaucrat.
Tata, L&T in fray to redo Mantralaya
The ambitious makeover project for the Mantralaya precinct has finally generated interest among developers, yet another indicator of the renewed optimism in the real estate sector. A few months ago, when tenders were first invited for the Rs 1,200-crore project at Nariman Point, it received a tepid response. Only three developers submitted offers but each quoted 30 per cent lower than the actual rates, forcing the government to invite fresh tenders.
Mantralaya sources said that this time, within days of calling for new bids, several top developers such as Tata Housing, Larson & Toubro, Hiranandani Developers, BE Billimoria and Company, Unity Infraprojects, Supreme Developers, Infrastructure Leasing & Financial Services Ltd (IL&FS), DB Realty and the Pune-based Kakade Group have already collected the tenders. The last date for submission is July 14.
Bipin Sankhe, chief architect of Maharashtra, refused to comment on the tenders collected but said, “We had called for tenders early this year before the code of conduct came into force. At that time, the market was going through a slump due to which we had to call for fresh tenders again. Today, after the elections, the market is much better and we expect a good response.”
The developer who clinches the deal will get a lucrative four-acre plot at Nariman Point on a build-operate-transfer basis. In return, the developer will have to renovate the Mantralaya, add a glass façade to the existing New Administrative Building and build an underground tunnel to link the two buildings to Vidhan Bhavan. Besides, the developer will also be required to construct a rest house for dignitaries, an MLA hostel and offices for political parties.
The rows of 20 quaint ministerial bungalows will be razed to make way for staggering 60-storey twin towers. Three such pairs of towers will be built for ministers, judges and bureaucrats. Ministers and judges would get about 30 luxurious duplexes, bureaucrats 60.
For the construction of the twin towers, the reservation of a 16,000 sq m public garden near Mantralaya and part of the 24-m-wide proposed road would be deleted, sources said. The design for the twin towers, prepared by Architect Raja Aederi Consultants, envisages private gardens on each floor of the highrise for every minister, judge and bureaucrat.
Mantralaya sources said that this time, within days of calling for new bids, several top developers such as Tata Housing, Larson & Toubro, Hiranandani Developers, BE Billimoria and Company, Unity Infraprojects, Supreme Developers, Infrastructure Leasing & Financial Services Ltd (IL&FS), DB Realty and the Pune-based Kakade Group have already collected the tenders. The last date for submission is July 14.
Bipin Sankhe, chief architect of Maharashtra, refused to comment on the tenders collected but said, “We had called for tenders early this year before the code of conduct came into force. At that time, the market was going through a slump due to which we had to call for fresh tenders again. Today, after the elections, the market is much better and we expect a good response.”
The developer who clinches the deal will get a lucrative four-acre plot at Nariman Point on a build-operate-transfer basis. In return, the developer will have to renovate the Mantralaya, add a glass façade to the existing New Administrative Building and build an underground tunnel to link the two buildings to Vidhan Bhavan. Besides, the developer will also be required to construct a rest house for dignitaries, an MLA hostel and offices for political parties.
The rows of 20 quaint ministerial bungalows will be razed to make way for staggering 60-storey twin towers. Three such pairs of towers will be built for ministers, judges and bureaucrats. Ministers and judges would get about 30 luxurious duplexes, bureaucrats 60.
For the construction of the twin towers, the reservation of a 16,000 sq m public garden near Mantralaya and part of the 24-m-wide proposed road would be deleted, sources said. The design for the twin towers, prepared by Architect Raja Aederi Consultants, envisages private gardens on each floor of the highrise for every minister, judge and bureaucrat.
An underground sewage water reclamation based MBR technology
With Developers becoming more eco-friendly, many have started adopting newer technologies to save water and thus foster a sustainable appraoch of living. In One of the Residential projects of Kalpataru Ltd known as Kalapatru Aura, an underground sewage water reclamation plant is been set up based on the Membrane Bio Reactor (MBR) technology. The water is designed by by EIMCO water technologies and it uses Kubota Submerged Membranes from Japan. The Plant is fully automated and Programming Logic Controlled (PLC). The complete system headwork and MBR system is located underground. The treated recycled water is used for flushing and gardening purpose.
Moreover, there is a system to place harvest rain water from the rooftop. There is a drip irrigation system for landscape irrigation along with efficient water pumping systems, which have VFD( Variable Frequency drive).
Moreover, there is a system to place harvest rain water from the rooftop. There is a drip irrigation system for landscape irrigation along with efficient water pumping systems, which have VFD( Variable Frequency drive).
Central Govt to finalise Real Estate Model Bill by Aug-Sept
A model Bill for regulating the real estate sector is expected to be finalised by August-September timeframe, the minister for housing and urban poverty alleviation, Kumari Selja, said recently while unveiling the 100 day agenda for her ministry. The Model Bill would propose a regulator and aim to address the concerns of consumers as well as the real estate industry. The finer details of the Model Bill is still not ascertained.
"We have initiated a dialogue with all key stakeholders including private sector, NGOs, and various States to prepare the model Bill for regulating the real estate sector. There are two-fold concerns, one from consumers who are sometime exploited and the other aspect is the real estate industry which is saying please help us get the clearances," the minister said. A senior Ministry official said that the model Bill would focus on affordable housing and also address regulation and registration.
The minister said that a key focus area for the Ministry over the next 100 days would be formulation of Rajiv Awas Yojana for slum dwellers and the urban poor, with a view to promote a slum-free India in the next five years. The Government would extend support to States willing to assign property rights to people living in slums, said Selja.
"We have initiated a dialogue with all key stakeholders including private sector, NGOs, and various States to prepare the model Bill for regulating the real estate sector. There are two-fold concerns, one from consumers who are sometime exploited and the other aspect is the real estate industry which is saying please help us get the clearances," the minister said. A senior Ministry official said that the model Bill would focus on affordable housing and also address regulation and registration.
The minister said that a key focus area for the Ministry over the next 100 days would be formulation of Rajiv Awas Yojana for slum dwellers and the urban poor, with a view to promote a slum-free India in the next five years. The Government would extend support to States willing to assign property rights to people living in slums, said Selja.
CHS building declared as Slum
A 75-year-old Goregaon home-maker has knocked on the doors of the Bombay high , challenging the decision of SRA to declare a cooperative housing society building as Slum. The writ petition filed by Shobhana Sharadchandra Kulkarni points to an alleged nexus among some members of Gulmohar Housing Society, the builder and the SRA to declare the ground-plus-one-storey building as a slum in order to avail of the benefits of a much higher floor space index (FSI). The property is located off Aarey Road in Goregaon (W) and Kulkarni stays in a tiny 366 sq-ft flat there. The developer, Yashwant Gandhi of Yash Realtors, was not available for comment despite repeated attempts to contact him on Sunday. Even as the petition is expected to come up for hearing later this week, demolition of the building has already started. Interestingly, an advocate hired by the society to prepare a draft agreement with the builder said he was now moving a complaint before the metropolitan magistrate in Borivli under Section 145 of the CrPC, which deals with breach of peace because of dispute over immovable property. "Some elements in the society, in connivance with the developer, have made changes in the agreement and are wrongfully using my name. The development of this property seeks to unleash more crime and terror against all the parties,'' said advocate Firdaus Irani. "The question is that can a property, which was auctioned by the BMC in 1982 and sold to a housing society, be deemed to be shown as a slum? Moreover, can the BMC sell a slum area?'' asked Irani. According to Kulkarni's petition, the process followed by office-bearers of the managing committee and the authorities, in connivance with the developers, is "apparently fraudulent, illegal so as to declare the said area as slum area in order to achieve their ulterior goals''. The society had bought the building in a public auction conducted by the BMC in 1982 and, subsequently, its proposal for registration was considered by the department of cooperation; it was given registration as a cooperative housing society. The petition states that thereafter, the municipal commissioner issued a sale certificate in favour of the society on February 19, 1983. "The certificate clearly sets out the facts of purchase of the said property in public auction by the society,'' it said. Stating that she never opposed redevelopment of the society ever since discussions started in 2004, Kulkarni said at no point of time were the members told that the society had applied to the "respondent authorities for declaring it as a slum area''. "The petitioner states that with the active help of the developer and the office-bearers of the society, the file of the society for declaring itself as (a) slum area appears to have been moved very speedily for obvious reasons,'' it said. With the help of her son, Kulkarni said, she obtained copies of all relevant documents by making applications under the Right to Information Act. She was shocked to find that "without carrying any actual inspection, record was created to show that the property of the society was, in fact, a slum area and it was not fit to occupy and co-habit''. "The petitioner states that after getting part of the information, the petitioner issued a legal notice to the respondents, including the local police station, pointing out the illegalities committed. Though the authorities, society and the developers received the said notice, none of them has even bothered to reply,'' said Kulkarni. In 2000, the SRA conducted a special drive to notify slums in the Goregaon area. Even at that time, not a single occupant of Gulmohar Society was issued any such card as hutment dweller.
State govt to allow hotels and resorts near river banks
The river water policy, proposed by the state environment department, will allow setting up of hotels and industries in no development zones on the banks of rivers, even those that supply drinking water. The policy issuing guidelines for the location of industries along river banks in the state will be in force once the government resolution is passed on Monday.
Taking into account the quality of water, the 20 river basins in the state are categorised A-I, A-II, A-III and A-IV. The industrial activities are restricted according to the classification. But the new policy proposes classification of rivers on the basis of designated use of water, and not its quality.
Of the 20 classified river basins, 12 are in A-II category, including Savitri, Vashishti, Shastri, Gahi, Balganga, Bhogeshwari, while only a couple of them are classified A-I. A 3-km of the area on either side is no development zone in the A-I category. For A-II, the restriction is 1 km on either side of the river.
The proposed policy will allow resorts and hotels with their own sewage plants to come up within this distance. Non-polluting industries too will be able to enjoy this benefit on the banks of the river basins with A-II classification."The Maharashtra Tourism Development Corporation has been demanding permission for hotels and resorts.
Hotels and resorts with water sports are in great demand. The hotels with their own sewage plants, including septic tanks and soak pits, will be allowed to set up the establishments. They will, however, have to discharge the waste on the other side of the river and that too 100 meters away from the banks. This means no smaller hotels will be able to get the permission," said environment secretary Valsa Nair-Singh.
Non-polluting industries including engineering, orchard, nursery can set up shop. "Earlier, the distance of the restriction was gauged from the outer line of the industry premises, but the new proposal has suggested the measurement from the actual area of activity and Flood Line (Red line)," an official said.
Taking into account the quality of water, the 20 river basins in the state are categorised A-I, A-II, A-III and A-IV. The industrial activities are restricted according to the classification. But the new policy proposes classification of rivers on the basis of designated use of water, and not its quality.
Of the 20 classified river basins, 12 are in A-II category, including Savitri, Vashishti, Shastri, Gahi, Balganga, Bhogeshwari, while only a couple of them are classified A-I. A 3-km of the area on either side is no development zone in the A-I category. For A-II, the restriction is 1 km on either side of the river.
The proposed policy will allow resorts and hotels with their own sewage plants to come up within this distance. Non-polluting industries too will be able to enjoy this benefit on the banks of the river basins with A-II classification."The Maharashtra Tourism Development Corporation has been demanding permission for hotels and resorts.
Hotels and resorts with water sports are in great demand. The hotels with their own sewage plants, including septic tanks and soak pits, will be allowed to set up the establishments. They will, however, have to discharge the waste on the other side of the river and that too 100 meters away from the banks. This means no smaller hotels will be able to get the permission," said environment secretary Valsa Nair-Singh.
Non-polluting industries including engineering, orchard, nursery can set up shop. "Earlier, the distance of the restriction was gauged from the outer line of the industry premises, but the new proposal has suggested the measurement from the actual area of activity and Flood Line (Red line)," an official said.
more cluster proposals screened in island city
The proposals for cluster redevelopment of old buildings in the island city are mounting by the day. The high-power committee for cluster redevelopment on Tuesday screened 10 proposals under the new policy. It was the second meeting of the panel and the proposals screened included three from Shreepati Developers, five from Bhattad Group and one each from Neelkamal Realtors (DB group) and Ratansi Architects. While in-principle approvals have been granted to most projects, a panel member said, “We will scrutinise the proposals and ask the developers to make certain modifications. The projects will then be recommended to the state urban development department for final approval.”
Name of the Builder: Shreepati Developers
Project Location: Saat Pansare Chwal and Parsi Wadi at NM Joshi Marg
Plot area: 10,798 Sq mtr
Existing Structures: 11 G+4 storey structures + 30 shanties
Existing tenants: 357
Proposed Structure: Three 20 storey towers for rehab, one 40 storey tower for sale
Name of the Builder: Shreepati Developers
Project Location: Krishna nagar, Parel
Plot area: 20,152 sq mtr
Existing Structures: 50 three to four- storey structures
Existing tenants: 1604
Proposed Structure: six 27 storey towers for rehab, three 45- storey towers for sale
The latest proposals include phase II of Shreepati Developers’ Pimpalwadi project at Girgaum .
Name of the Builder: Hem Bhattad Developers
Project Location: Private land near Tokersy Jivraj Road, Sewri
Plot area: 52,480 Sq mtr
Existing Structures: 35 G+ 2 storey structures + 400 shanties
Existing tenants: 1039
Proposed Structure: Four 21 storey towers for rehab, one 45 and one 60- storey tower for sale
The Bhattad Group has submitted five proposals including above, totalling 20.50 acres of land in Bhuleshwar, Sewri and Girgaum . Around 3,000 families residing in these pockets will be rehoused in 20-storeyed highrises, while the developer will construct 60-storey towers as his profit component. The developer is the landlord in four of the group’s projects.
“We will try to incorporate the commissioner’s suggestion on public car parking, wherever possible. Already at our Sewri project, we have decided to construct 5 lakh sq ft of public car park on an adjoining mill plot in addition to the private parking for 3,000 cars within the project,” said company director BR Bhattad, who is also the executive president of Property Owners Association.
Name of the Builder: Ratansi Architects
Project Location: Botawala Chawl, Masgaon
Plot area: 4,721Sq mtrs
Existing Structures: 10 two storey structures
Existing tenants: 422
Proposed Structure: Three 20 storey towers for rehab, one 53 storey tower for sale
Name of the Builder: Neelkamal Realtors (DB Realty Group)
Project Location: Turf Estate, Mahalaxmi
Plot area: 57,265 Sq mtrs
Existing Structures: Rows of single storey commercial structures
Existing tenants: 135
Proposed Structure: One 15- storey commercial tower with five levels of podium for rehab, one 22- storey residential tower, one 5- level podium + 15 storey commercial tower for sale
The committee had earlier screened three proposals at Girgaum, Parel and Bhendi Bazaar. Under the cluster policy, a developer who takes up demolition and reconstruction of the pre-1960 buildings in a minimum area of 1 acre (4,000 sq m) in the city will be allowed very high vertical limit. He will also get an incentive area for sale in the range of 55 to 80 per cent of the area used for rehabilitating the tenants.
Municipal commissioner Jairaj Phatak who heads the committee has asked developers to make provision for public parking in addition to the private parking space proposed in their projects. The commissioner, in consultation with the traffic department, has asked the developers to modify their proposals so as to make space for public parking for at least 100 cars in each project. Such developers can, under the BMC’s newly-amended DCR 33/24, avail themselves of an extra floor space index (FSI). This incentive FSI will be equal to 50 per cent of what the developer constructs and hands over to the BMC for the purpose of public parking.
Name of the Builder: Shreepati Developers
Project Location: Saat Pansare Chwal and Parsi Wadi at NM Joshi Marg
Plot area: 10,798 Sq mtr
Existing Structures: 11 G+4 storey structures + 30 shanties
Existing tenants: 357
Proposed Structure: Three 20 storey towers for rehab, one 40 storey tower for sale
Name of the Builder: Shreepati Developers
Project Location: Krishna nagar, Parel
Plot area: 20,152 sq mtr
Existing Structures: 50 three to four- storey structures
Existing tenants: 1604
Proposed Structure: six 27 storey towers for rehab, three 45- storey towers for sale
The latest proposals include phase II of Shreepati Developers’ Pimpalwadi project at Girgaum .
Name of the Builder: Hem Bhattad Developers
Project Location: Private land near Tokersy Jivraj Road, Sewri
Plot area: 52,480 Sq mtr
Existing Structures: 35 G+ 2 storey structures + 400 shanties
Existing tenants: 1039
Proposed Structure: Four 21 storey towers for rehab, one 45 and one 60- storey tower for sale
The Bhattad Group has submitted five proposals including above, totalling 20.50 acres of land in Bhuleshwar, Sewri and Girgaum . Around 3,000 families residing in these pockets will be rehoused in 20-storeyed highrises, while the developer will construct 60-storey towers as his profit component. The developer is the landlord in four of the group’s projects.
“We will try to incorporate the commissioner’s suggestion on public car parking, wherever possible. Already at our Sewri project, we have decided to construct 5 lakh sq ft of public car park on an adjoining mill plot in addition to the private parking for 3,000 cars within the project,” said company director BR Bhattad, who is also the executive president of Property Owners Association.
Name of the Builder: Ratansi Architects
Project Location: Botawala Chawl, Masgaon
Plot area: 4,721Sq mtrs
Existing Structures: 10 two storey structures
Existing tenants: 422
Proposed Structure: Three 20 storey towers for rehab, one 53 storey tower for sale
Name of the Builder: Neelkamal Realtors (DB Realty Group)
Project Location: Turf Estate, Mahalaxmi
Plot area: 57,265 Sq mtrs
Existing Structures: Rows of single storey commercial structures
Existing tenants: 135
Proposed Structure: One 15- storey commercial tower with five levels of podium for rehab, one 22- storey residential tower, one 5- level podium + 15 storey commercial tower for sale
The committee had earlier screened three proposals at Girgaum, Parel and Bhendi Bazaar. Under the cluster policy, a developer who takes up demolition and reconstruction of the pre-1960 buildings in a minimum area of 1 acre (4,000 sq m) in the city will be allowed very high vertical limit. He will also get an incentive area for sale in the range of 55 to 80 per cent of the area used for rehabilitating the tenants.
Municipal commissioner Jairaj Phatak who heads the committee has asked developers to make provision for public parking in addition to the private parking space proposed in their projects. The commissioner, in consultation with the traffic department, has asked the developers to modify their proposals so as to make space for public parking for at least 100 cars in each project. Such developers can, under the BMC’s newly-amended DCR 33/24, avail themselves of an extra floor space index (FSI). This incentive FSI will be equal to 50 per cent of what the developer constructs and hands over to the BMC for the purpose of public parking.
State Govt approaches Apex court for permission to issue Ordinance for regularisation of slums till 2000
The state government on Wednesday decided to push for the regularisation of slums built up to 2000. Eye on the assembly elections, the cabinet decided it would approach the Supreme Court for permission to issue an ordinance to extend the cutoff date for protection of such structures.
The present cutoff is January 1, 1995; the cabinet wants it at January 1, 2000, by amending the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971. Slums built within the cutoff are eligible for civic amenities. The move would involve an addition of 3,84,830 hutments to the 7,96,129 built till 1995.
With the legislative assembly not in session, the elections due in October and the issue pending in court, the cabinet decided to apply for permission. Extending the cutoff date for slums was one of the promises made in the 2004 election manifesto of the Congress-NCP alliance; Chief Minister Ashok Chavan said the government was fulfilling it. He said the government would process a special leave petition in the apex court and, after the court’s approval, issue an ordinance.
The realty industry believes extension would improve the feasibility of SRA schemes. “Though the decision is based on political agenda, the extension will help several schemes that didn’t take off because of deadline disputes,” said developer Sunil Mantri of the Maharashtra Chamber of Housing Industry. From the developer’s perspective, he said, the move would mean an increase in rehabilitation tenements and sales.
Mayor Shubha Raul called it a “very unfortunate decision”. “The Congress-NCP government is out to woo voters. Most of these slumdwellers are Bangladeshis. We cannot solve the problems of locals who have been here for decades; how can we cope with the extension to new slumdwellers?” she said. The issue has been pending in the Supreme Court since the state challenged a High Court order that had questioned the propriety of extending the cutoff date periodically. The state had regularised hutments till 1976 after a census and then stretched the deadline to protect slums up to 1980, 1985 and 1995.
The decision is aimed at appeasing slum-dwellers who had pitched their hutments after 1995 and were seeking protection. The move is expected to brighten the prospects of the Congress-NCP alliance in the elections. MLAs from Mumbai, especially, had been lobbying for an extended cutoff considering that the slum-dwellers were their voters.
Slum activists welcomed the government’s plans but questioned the very concept of a cutoff date. Developers welcomed the prospects of more business but noted that the move involved a political agenda.
Simpreet Singh of Ghar Bachao Ghar Banao Andolan said, “The government is just fulfilling an old promise before the poll code of conduct is enforced. It is a good move to an extent but piecemeal, not a holistic solution to housing problem in Mumbai.”
Amita Bhide, professor in the Tata Institute of Social Studies’ urban studies department, called the cutoff concept arbitrary. “As long as the city is open to migrants, the right to housing can’t be restricted to a particular class. Also, the idea of treating a post-1995 structure as legal denies eligibility to those who have been in the city for decades but have bought a new structure.”
He found the state position contradictory: it wants 2000 as the cutoff date for the Mumbai Urban Infrastructure Project and schemes for the Mithi river, airport slums and Dharavi redevelopment, but has specified none for the World Bank funded Mumbai Urban Transport Project. This means shanties cleared from one area only mushroom in another.
The present cutoff is January 1, 1995; the cabinet wants it at January 1, 2000, by amending the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971. Slums built within the cutoff are eligible for civic amenities. The move would involve an addition of 3,84,830 hutments to the 7,96,129 built till 1995.
With the legislative assembly not in session, the elections due in October and the issue pending in court, the cabinet decided to apply for permission. Extending the cutoff date for slums was one of the promises made in the 2004 election manifesto of the Congress-NCP alliance; Chief Minister Ashok Chavan said the government was fulfilling it. He said the government would process a special leave petition in the apex court and, after the court’s approval, issue an ordinance.
The realty industry believes extension would improve the feasibility of SRA schemes. “Though the decision is based on political agenda, the extension will help several schemes that didn’t take off because of deadline disputes,” said developer Sunil Mantri of the Maharashtra Chamber of Housing Industry. From the developer’s perspective, he said, the move would mean an increase in rehabilitation tenements and sales.
Mayor Shubha Raul called it a “very unfortunate decision”. “The Congress-NCP government is out to woo voters. Most of these slumdwellers are Bangladeshis. We cannot solve the problems of locals who have been here for decades; how can we cope with the extension to new slumdwellers?” she said. The issue has been pending in the Supreme Court since the state challenged a High Court order that had questioned the propriety of extending the cutoff date periodically. The state had regularised hutments till 1976 after a census and then stretched the deadline to protect slums up to 1980, 1985 and 1995.
The decision is aimed at appeasing slum-dwellers who had pitched their hutments after 1995 and were seeking protection. The move is expected to brighten the prospects of the Congress-NCP alliance in the elections. MLAs from Mumbai, especially, had been lobbying for an extended cutoff considering that the slum-dwellers were their voters.
Slum activists welcomed the government’s plans but questioned the very concept of a cutoff date. Developers welcomed the prospects of more business but noted that the move involved a political agenda.
Simpreet Singh of Ghar Bachao Ghar Banao Andolan said, “The government is just fulfilling an old promise before the poll code of conduct is enforced. It is a good move to an extent but piecemeal, not a holistic solution to housing problem in Mumbai.”
Amita Bhide, professor in the Tata Institute of Social Studies’ urban studies department, called the cutoff concept arbitrary. “As long as the city is open to migrants, the right to housing can’t be restricted to a particular class. Also, the idea of treating a post-1995 structure as legal denies eligibility to those who have been in the city for decades but have bought a new structure.”
He found the state position contradictory: it wants 2000 as the cutoff date for the Mumbai Urban Infrastructure Project and schemes for the Mithi river, airport slums and Dharavi redevelopment, but has specified none for the World Bank funded Mumbai Urban Transport Project. This means shanties cleared from one area only mushroom in another.
no occupation certificate, if no water conservation plan says BMC
The BMC will act on developers who are not incorporating self sustainable features for water conservation, like rain water harvesting, in their projects.The move comes at a time when the BMC has enforced a 15% water cut. Occupation certificate (OC) of new constructions that don't implement measures such as preventing leaks in piping, installing or converting to water conserving fixtures, insulating hot water pipes, recycling greywater, collecting rainwater and installing water meters, will be withheld. The development control (DC) rules have provisions for water conservation. "With abundant water, we have observed a complacency on developers' part. However, the situation today demands that BMC act with greater rigidity against those who violate norms,'' said Jairaj Phatak, municipal commissioner. Civic planners and activists have long demanded that developers incorporate environmentally conscious models into their projects. However, only a handful are incorporating such elements. Several proposals come to civic offices without developers accounting for inadequate water supply in the area, officials said. No clear plans were submitted on how any water shortfall would be met. "Inadequate water supply arrangements and increased dependence on tankers is a common norm,'' an official said.
Real Estate rising in Mumbai
The downturn is easing and it’s not just the stock markets that have perked up. Builders across the city have started hiking property rates, reacting to a rise in demand. Many builders have increased rates by 5 per cent to 30 per cent in the last three months.Take the case of Earth Developers, who are constructing two towers at Girguam and Khetwadi. The launch price, three months ago, was Rs 12,000 per square feet; it has shot up to Rs 15,000 in July. Managing Director Bhupesh Jain attributes the demand and hike to shortage of houses in the island city. “There is shortage and people don’t want to leave this part of the city,” said Jain.
“There is a feel-good factor, especially as there’s a stable government, so we have hiked rates,” explained Dharmesh Jain, chairman and managing director, Nirmal Lifestyle. The group, which launched Zircon in Mulund for Rs 5,400 per square feet two months ago, is now demanding Rs 5,652. The Nahar Group, which has the Nahar Amrit Shakti project in Powai, was selling flats at Rs 5,252 per square feet in April, but now it’s quoting Rs 6,000. Flats at Mantri group’s Mantri Park in Goregaon were being sold for Rs 5,200 three months ago, it’s Rs 5,800 now.
It’s not just Mumbai that’s seeing this trend. Urbania, a project by Rustomjee Builders in neighbouring Thane, has upped its rates from Rs 2,900 per square feet (in 2007) to Rs 4,000. Abhishek Kapoor, chief executive officer, Urbania, said buyers are returning to the market. “We are sure of further appreciation,” said Kapoor. Some builders have started announcing new projects. Raj Thackeray’s Matoshree group is coming up with four projects.“Due to the slowdown, we had deferred many projects but now as markets have stabilised, we are coming up with the projects,” said Nitin Sardesai, director, Matoshree
Source: HT-
Date: 01/08/2009
“There is a feel-good factor, especially as there’s a stable government, so we have hiked rates,” explained Dharmesh Jain, chairman and managing director, Nirmal Lifestyle. The group, which launched Zircon in Mulund for Rs 5,400 per square feet two months ago, is now demanding Rs 5,652. The Nahar Group, which has the Nahar Amrit Shakti project in Powai, was selling flats at Rs 5,252 per square feet in April, but now it’s quoting Rs 6,000. Flats at Mantri group’s Mantri Park in Goregaon were being sold for Rs 5,200 three months ago, it’s Rs 5,800 now.
It’s not just Mumbai that’s seeing this trend. Urbania, a project by Rustomjee Builders in neighbouring Thane, has upped its rates from Rs 2,900 per square feet (in 2007) to Rs 4,000. Abhishek Kapoor, chief executive officer, Urbania, said buyers are returning to the market. “We are sure of further appreciation,” said Kapoor. Some builders have started announcing new projects. Raj Thackeray’s Matoshree group is coming up with four projects.“Due to the slowdown, we had deferred many projects but now as markets have stabilised, we are coming up with the projects,” said Nitin Sardesai, director, Matoshree
Source: HT-
Date: 01/08/2009
BDD Chawls
BDD is divided into four zones such as Worli, Naigaon, NM Joshi Marg at Parel and Sewri. There are 121 BDD chawls at G.M.Bhosale Marg, S.S.Amrutwar Marg and 32 BDD chawls at Sakhubai Mohite Marg. The decrepit chawls has 16,544 tenants and the project cost is 3000 crore according to the housing department. A technical report is prepared for BDD redevelopment in 2007 by a committee formed by the government in 2005. The BDD chawl is maintained by PWD department- Government of Maharashtra. A source has revealed that Land title of BDD chawl will soon be transferred to MHADA by the state government.
The Chief Minister’s Task Force committee report in 2004 had recommended that BDD chawl should be redeveloped by only private developers. It also recommended that GOM should sponsor open bidding and award the contract to the highest bidder for an FSI of 4. The funds raised will flow into Mumbai Development Fund (MDF).
The Chief Minister’s Task Force committee report in 2004 had recommended that BDD chawl should be redeveloped by only private developers. It also recommended that GOM should sponsor open bidding and award the contract to the highest bidder for an FSI of 4. The funds raised will flow into Mumbai Development Fund (MDF).
State seeks rule change to take over mill land
In a significant development, Chief minister Ashok Chavan has asked for an amendment to Development Control Rules (DC Rules) in order to enable the state government to take possession of mill lands where the mill owners have either failed or refused to set aside land for housing the mill workers.
Mr Chavan is learnt to have asked the department of Urban Development and Housing to draft a proposal to this effect within a week and make an amendment. This, incidentally, would be the state’s third attempt to take over unused mill land. The CM office had asked the UDD and Housing Department to identify mills which have not submitted their development plans to avoid transfer of land.
The amendment to DC Rules will facilitate state to take over 2/3rd of mill land in all such cases. This step will benefit 2.5 lakh mill workers in Mumbai alone. The issue pertains to Mumbai’s 18 textile mills, which are under a legal obligation to set aside 1/3rd of the total available land for MHADA to construct low cost housing schemes for mill workers. Another 1/3rd option will be available for BMC for civic amenities. The mill owners will get to retain an equal portion of land for commercial development. In all, these 18 mills are required to allocate 11 hectares of land to MHADA for Houisng. But the mills have been able to set aside about 7 hectares of land so far. Some mill owners claim that they have not yet carried out commercial development on their land and hence not necessary to set aside 2/3rd for MHADA and BMC
Mr Chavan is learnt to have asked the department of Urban Development and Housing to draft a proposal to this effect within a week and make an amendment. This, incidentally, would be the state’s third attempt to take over unused mill land. The CM office had asked the UDD and Housing Department to identify mills which have not submitted their development plans to avoid transfer of land.
The amendment to DC Rules will facilitate state to take over 2/3rd of mill land in all such cases. This step will benefit 2.5 lakh mill workers in Mumbai alone. The issue pertains to Mumbai’s 18 textile mills, which are under a legal obligation to set aside 1/3rd of the total available land for MHADA to construct low cost housing schemes for mill workers. Another 1/3rd option will be available for BMC for civic amenities. The mill owners will get to retain an equal portion of land for commercial development. In all, these 18 mills are required to allocate 11 hectares of land to MHADA for Houisng. But the mills have been able to set aside about 7 hectares of land so far. Some mill owners claim that they have not yet carried out commercial development on their land and hence not necessary to set aside 2/3rd for MHADA and BMC
Affordable houses a distant reality
The economic slump might have forced developers to chant the mantra of affordable housing but a reality check shows that it has not led to any significant increase in affordable homes anywhere in the country.
A report on affordable housing, released by the global property consultancy Knight Frank on Wednesday, reveals a tremendous gap between the preferences of buyers and the projects under development. The report states that the housing requirement for the Rs 3-10 lakh income group across 7 cities is 2.06 million housing units by 2011. These include Mumbai, NCR, Chennai, Pune, Kolkatta, Bengluru and Hyderabad. This potential market comprises 37 per cent of the total demand and translates into a market size of Rs 3,300 billion.
“Due to compulsions of the present situation, developers have been forced to shift their focus from premium to affordable housing segment. Even then, the actual number of affordable houses that have been announced pan India are not more than 10,000 units. Of these, barely 30 per cent projects have taken off on ground,” said Gulam Zia, National Director for Research and Advisory services at Knight Frank.
The report shows that good connectivity of the house to workplace tops the factors influencing the buyer’s choice of location. The report also states that although a number of affordable housing projects have been announced, most of them are located in distant suburbs which do not have adequate infrastructure. For instance, in Mumbai the upper limit of affordability is Rs 4,400 per sq ft, a category of homes available only beyond Borivli and Mulund.
Zia added that government intervention is required to create affordable homes. “Like in cases where government land is auctioned, there could be some conditions on the developers that they should create homes for low, middle and high income groups. It is grossly unfair that only high income groups should be able to live in central areas,” said Zia.
Pranay Vakil quoted a recent HDFC research that says that an affordable home in its true sense should cost 3.5 times a person’s annual income. However in today’s market, the average home buyer is forced to shell out a price that is 5.1 times his annual income. “The time around Dussera-Diwali will show the real story of whether the market is really improving,” said Vakil.
Source: Indian Express
Date : 13/08/09
A report on affordable housing, released by the global property consultancy Knight Frank on Wednesday, reveals a tremendous gap between the preferences of buyers and the projects under development. The report states that the housing requirement for the Rs 3-10 lakh income group across 7 cities is 2.06 million housing units by 2011. These include Mumbai, NCR, Chennai, Pune, Kolkatta, Bengluru and Hyderabad. This potential market comprises 37 per cent of the total demand and translates into a market size of Rs 3,300 billion.
“Due to compulsions of the present situation, developers have been forced to shift their focus from premium to affordable housing segment. Even then, the actual number of affordable houses that have been announced pan India are not more than 10,000 units. Of these, barely 30 per cent projects have taken off on ground,” said Gulam Zia, National Director for Research and Advisory services at Knight Frank.
The report shows that good connectivity of the house to workplace tops the factors influencing the buyer’s choice of location. The report also states that although a number of affordable housing projects have been announced, most of them are located in distant suburbs which do not have adequate infrastructure. For instance, in Mumbai the upper limit of affordability is Rs 4,400 per sq ft, a category of homes available only beyond Borivli and Mulund.
Zia added that government intervention is required to create affordable homes. “Like in cases where government land is auctioned, there could be some conditions on the developers that they should create homes for low, middle and high income groups. It is grossly unfair that only high income groups should be able to live in central areas,” said Zia.
Pranay Vakil quoted a recent HDFC research that says that an affordable home in its true sense should cost 3.5 times a person’s annual income. However in today’s market, the average home buyer is forced to shell out a price that is 5.1 times his annual income. “The time around Dussera-Diwali will show the real story of whether the market is really improving,” said Vakil.
Source: Indian Express
Date : 13/08/09
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