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Rajasthan Housing Board uploads a list of flats for e-auction. JAIPUR: Rajasthan Housing Board(RHB) has planned for the e-auction for the first time in the state, The RHB has updated the list of properties with their details on its website. The committee has planned to sell off its more than 9,500 flats on discounted rates in an e-auction starting from September 30 2019. The bidders willing to participate in the online auction can register themselves after September 20. The uploaded list comprises a specification of the flats, including category (EWS, LIG, MIG), floor, location, colony, the reserve price and images describing the condition of the property.  As per the proposal, the RHB has divided discount prices on those houses in two categories – 0% to 25 % and 0% to 50 %. The discounts on flats are assessed after considering the location, condition and other factors.  The committee has also used a reverse bidding process for auctioning their houses for the first time...

The RERA Act mandates registration of all ongoing housing projects with a minimum of eight units and 5000 sq ft including housing plots and layouts meant for sale.  Chennai: Builders and developers are complaining that their projects are delayed as staff shortage, this is effecting to the registration of housing projects with the Tamil Nadu Real Estate Regulatory Authority (TNRERA). Following concerns over lack of staff slowing the registration process, the real estate regulator is formalising service rules to appoint permanent workers. As per sources, Registration of housing projects with TNRERA consumes a minimum of two months. Registration is crucial because of housing projects would qualify for loans only after the project is approved by RERA. Besides housing units cannot be sold to customers without TNRERA number. We have done 3 registration in the last two years and an acute shortage of staff is affecting speedy disposal of the application said by developer TNRERA’s reg...

New property cards for flat owners across Maharashtra PUNE: All flat owners in the state will soon get additional property cards, That contains details such as carpet area, amenity space and bank loan information, along with their 7/12 extracts. The 7/12 extract is an extract of the property register maintained by the revenue department of the governments of Maharashtra. In rural areas, the ownership of a particular Plot of land can be established on the basis of the 7/12 extract. The Maharashtra government on Wednesday released the “vertical property rules” to create a database of all flats, homes and commercial complexes in a bid to check fraudulent transactions. “The government will soon put up the draft for instructions and objections,”  said by a senior government official. The Settlement Commissionerate and Directorate of Land Records had been pushing the proposal to ensure that city survey offices in urban areas and collectorates in the rural belt have detailed record...

Tamil Nadu eases permission procedures for construction of small houses CHENNAI: Planning to build a residential home  within 1200 square feet built-up area, You may need to just apply for online seeking planning permission and commence constructions. The Tamil Nadu state government announced an order to this effect, which was made public on Wednesday. The order of the municipal administration and water supply commission dated August 21, 2019, stated that this new exemption to ease the planning permission procedures for smaller constructions can be utilised for constructions that are carried out in an area within 2500 square feet with the built-up area below 1200 square feet. While applying for planning permissions can be filed online, the existing process of physical inspection by officials from the corresponding local bodies at the construction site has been kept aside for such constructions. Constructions will be allowed only on approved plots . Image source Google The ...

Chawl tenants await possession of their homes for 27 years. MUMBAI: One of the worst cases of redevelopment has gone wrong, 10 families living in a chawl in Malad East still waiting for possession of their tenements 27 years after they vacated the chawl for redevelopment. The families have now approached the city Court in Dindoshi with contempt of court petition against the developer Damodar S Mudaliar of Web India Construction for violating consent terms signed in July 2018. They have also filed a complaint with the Economic offences wing demanding criminal proceedings against the developer. As per the petition, Mudaliar a local developer purchased the Banijabai chawl form the owner in 1987 and approached the chawl residents for redevelopment.  In 1990, Brihanmumbai Municipal Corporation(BMC) granted an Intimation of Disapproval (IOD) and in 1992, They have received the Commencement Certificate to built a G+2 structure. In 1992, They have vacated Chawl and moved the resi...

Charms City by Charms group Charms City in Titwala, Developed by Charms group. The project is spread over 7 acres which comes with 7 Storeyed buildings and 2 Landscaped Gardens. Charms City offers 1 & 2BHK Apartments at this prime locality in Mumbai, these Apartments are extravagantly designed RCC Structure & earthquake-resistant with beautiful art to keep a perfectly balanced life with nature. The Project has a well-designed drainage system running & Paved with square stones around. There are amenities to make your life effortless, simple and full of ease i.e, Ample Car Parking, Gymnasium, Generator backup for common lighting, Intercom facility & Party Hall, etc. Charms City has different Towers named as Avon, Branco, Corsica, Dalen, Ebro, Krisko, Iroise, Jilaco, Florence, Georgia, Heilbron. The first phase of the project is nearing its finish with around 500 buyers. Developers have launched another phase of the same project. RERA ID Charms City is a RERA registe...

Article 370 revoked Can outsiders now invest in Jammu and Kashmir Real Estate On 5th Aug, PM Narendra Modi Government declared its judgment to remove Article 370 form the Indian Constitution, which has given special status to Jamma & Kashmir. Now Jammu and Kashmir is a union territory with the legislature. Special status, basically meant that those living in J&K were governed under separate laws as compared with other Indians including matters related to basic rights, Property benefits legislation and so on. Abrogating Article 370 means that Jammu and Kashmir will no longer have a separate flag. It also means that Indians, around the country, will have the freedom to purchase property in J&K and settle there – a benefit that had been discarded to them earlier. Real estate transactions are highly restricted in Jammu and Kashmir so far. Article 35A gave  J&K government the power to decide who can be permanent citizen of the state and only those individuals we...

Government to build two lakh houses for poor in Bengaluru Housing for All Mission for the urban area will be implemented by PM Narendra Modi during 2015-2022. This mission aims for Providing homes to all eligible families/beneficiaries in India by 2022. Bengaluru : BJP Government has set an ambitious target to build two lakh houses over 1,000 acres for people from the economically backward section. In Keeping with Prime minister Narendra Modi’s Vission of “Housing for all by 2022”. Chief Minister BS Yediyurappa told the Government has decided to build Residential projects  with 10 to 12 storied buildings in several parts of Bengaluru in the next 4 years, with necessary facilities such as lifts. “Our aim is to ensure everyone has a house by 2022. It is Prime Minister Modi’s wish,” he said after a marathon meeting with officials of the finance department. “This year we have fixed a target of two lakh families,” he said. “To complete this, we have identified 1,000 acres of l...

Profit from real estate safely with experts like SmartOwner Over the past few decades, real estate has delivered higher compounded returns than other investments. So why isn’t everyone taking all their money and putting it into a Bangalore apartment, a Pune commercial property, or a real estate fund? Because the returns might look attractive, but the process of finding the right investments is complex. There are many moving parts, and regular investors are not equipped with enough time or information to understand the details and identify the best opportunities. This explains why for every person who seems to have made a retirement-worthy fortune from a real estate investment, there seems to be another person with burnt fingers, left unhappy and disillusioned with this asset class. At best, these bad experiences range from the hassle of paperwork and red-tape to sub-par returns and project delays, at worst they can be victim to project failures, market crashes, or even scams. The fa...

Realty Fact Editor in Chief, Kumar Saurabh talks to Sathish Rajendren, Co-Chairs- CoreNet Global India Chapter & COO Knight Frank Q1) Elaborate on the key topics to be discussed in this year’s CoreNet Global’s Annual India conference to be held on June,19 th in Bangalore ? The conference will deal with the transformation being brought about by corporate real estate (CRE) in structuring and execution of India’s overall corporate strategy. To name few key topics that will be discussed are: Geopolitical and Trade Tensions – The session will set to examine strategic real estate planning decisions as challenges including unpredictable policy outcomes and a volatile trade environment impact supply chains, regional costs, and long-term budget decisions. Intelligent Workplace – The focus of this session is to: Identify elements of green building design & smart technology that goes into making workplace intelligent Understand the social, cultural & human asp...

CBRE  South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the findings of its latest report titled ,  “Programming Asia Pacific’s Tech Cities as Global Tech Hubs ”. According to the report,  despite the absence of any principal city or cluster of the same status as Silicon Valley, technology companies continue to fuel office demand in the APAC region. Burgeoning growth of the region’s technology sector accounted for  23%  of total leasing activity in 2018. Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE ,  “India is home to an increasing number of tech unicorns and Asia Pacific is increasingly defined as the region leading in the rapid adoption of disruptive technology. However, there is still room for growth in terms of identifying locations where business conditions, innovation and talent come together to form a globally competitive digital hub”. He further added , “Improved acces...

The quintessential Indian’s yen for investing in real estate continues. The latest data vouchsafes the visible return of investor sentiment for real estate, and the enthusiasm is not limited to traditional property hotspots of the big cities. ANAROCK’s recent second edition of its Consumer Sentiment Survey confirms that investors are equally – if not more – upbeat on the prospects that India’s Tier 2 & 3 cities offer. Lack of affordability in the larger cities is the primary hurdle to the largest investor base, and property investors are now looking at smaller towns and cities. However, their increasing bullishness on Tier 2 & 3 cities as against their tier 1 counterparts is not just on account of their relatively more affordable property prices, but also because of their better growth prospects.   Infrastructure – The Connecting Force It is fairly well known that the metros are bursting at the seams and that new infrastructure – the most effective driver of...

The construction industry continues to play a pivotal role in the country’s economic growth and in the nation’s development plans. As per industry estimates, India’s construction industry is expected to become the third largest construction market globally by 2022. In this context, the selection of construction material is of paramount importance. The general sentiment within the industry is that steel is going to be a great enabler for the Indian growth story, particularly for the downstream sector. Construction and infrastructure occupy the lion’s share of this growth in demand. According to a recent industry report by Steel Authority of India Limited (SAIL), there is 7% growth in domestic steel consumption led by investment in construction and infrastructure. Also, the proposal to bring construction material in the lower GST slab will further give fillip to the industry. While composite steel construction is preferred in industrial and commercial construction, steel is also gai...

The Indian real estate is evolving at a rapid pace. Touted as one of the biggest investment destinations in India, the reality market offers huge growth potential to both residential and commercial buyers. Today, its growth is also being fueled by the ever-changing corporate environment – in both Tier 1 and Tier 2 cities – which are witnessing a prompt surge in the demand for bigger, better office spaces by national and multinational companies. Year 2018 has witnessed an increased occupancy trend in corporate real estate even from Non-IT companies, including healthcare, biotech, telecom, consultancy businesses and more. Commercial property in Bangalore is most favored by multinationals, closely followed by Chennai, Delhi NCR, Hyderabad, Pune, and Ahmedabad.   Indian real estate sector is evolving at a pace never seen before. With an enhanced focus on employee satisfaction and retention, new standards are being set and latest trends are evolving in corporate real estate, fueli...

I have often been asked this question – “How do you manage your finances so well? I genuinely try to save up. But I can never understand where my money gets spent. It simply disappears towards the end of the month and I am left with a bare minimum in hand.” I have time and again emphasized to my friends, family and colleagues – Money matters should always be given priority at every stage of life. It is extremely important to understand cash flow on a monthly basis, so that there is an appropriate ROI mechanism that can be implemented. Budgeting acts like a road map, helping you understand you finances better, while encouraging you to plan smarter. But why is it so important to plan your finances? #1 – It creates awareness If your salary is your sole source of income, then budgeting is the ultimate solution to all you finance related woes. Understanding your spending habits helps you become a wise spender, consciously leading you towards informed decision making. #2 – It helps you ...

Shapoorji Pallonji Real Estate, one of India’s most trusted and oldest real estate brands, has announced its entry into Thane residential market with the launch of its first premium residential project Northern Lights. The project is spread over 4.8 acres of land and will offer different unit configurations of 2 BHK premium homes . The project site is strategically located on Pokhran Road No. 2 which is one of the most preferred residential destinations in Thane. It is located adjacent to the Eastern Express Highway. As a location, it also enjoys proximity to well-developed social and civic infrastructure like education institutions, hospitals, commercial centres, retail zones and shopping malls. Shapoorji Pallonji Northern Lights is a thoughtfully designed premium project and will offer modern living with more than 60 lifestyle amenities and features such as the Pool Deck, Music Room, Children Play Area, Electronic Gaming Room, Library, Swimming Pool, Multi-purpose Lawn, Cricket Pit...

The dream of owning a house near to the Dwarka Expressway seems to have come an inch closer with the recent foundation laying of Delhi corridor of 29-Km Dwarka Expressway. The project was conceptualized under the Gurugram Master Plan 2021. Dwarka Expressway or the Northern Peripheral Road (NPR) was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram. However, it was further extended to the Kherki Daula toll plaza, intercepting NH-48, as per the Master Plan 2025. After the project is complete, it will boost access to the IGI airport and major parts of Delhi. The completion of the expressway will not only benefit the developers and the buyers but will also give a new ray of hope to the real estate market of Gurugram. Many developers such as DLF, Vatika Group, Mapsko Group, CHD Developers and AlphaCorp have their projects around the stretch. Expressing happiness over an inauguration ,  Ashish Sarin, CEO, AlphaCorp  said, “It has been a prolonged wa...

Ashok Leyland, flagship of the Hinduja Group, and one of the largest commercial vehicle manufacturers in India, has been awarded LEED v4.1 Buildings Operations & Maintenance certification at the Platinum level today, for its corporate office building in Chennai. LEED v4.1 is the newest version of the LEED (or Leadership in Energy and Environmental Design) rating system, developed by the U.S. Green Building Council (USGBC). With this honor, Ashok Leyland becomes the first office in India and fourth in the world to receive LEED v4.1 Platinum certification.   Mr. N.V Balachandar, President – HR, Communication and CSR, Ashok Leyland   said,  “ We were awarded LEED Gold certification in 2009 and by striving for continuous improvement we have now been able to receive LEED v4.1 Platinum certification at our corporate office. We are the only corporate office in India to have received this certification. Sustainability is an integral part of  al...