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Aishwarya Raj Singh

Aishwarya Raj Singh
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Andhra Pradesh CM ordered to launch all housing works by March 31

By
Aishwarya Raj Singh
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CM of Andhra Pradesh Y S Jagan Mohan Reddy asked officials to ensure 100% grounding of all 15.60 lakh houses by March 31 which are being constructed across the state in the first phase.

Andhra Pradesh CM ordered to launch all housing works by March 31

On Wednesday the chief minister connected with district collectors, SPs and other officials through a video call from his Tadepalli camp office. Reddy told them to focus and resolve court cases and provide assistance to the beneficiaries in availing bank loans for their houses and instructed the collectors, JCs and municipal commissioners to conduct periodical inspections.

The chief minister also asked them to set up brick manufacturing units within the layouts to reduce transportation charges and procuring cement and steel at subsidy prices. He ordered officials to sanction house sites to eligible persons within 90 days of application.

Further, he ordered officials to focus on the OTS scheme by organizing special camps for handing over registration documents.

Speaking on Spandana grievances, the chief minister said the Spandana portal has been updated and petitions can now be tracked and added that collectors should review the progress of petitions twice a week.

He said collectors should focus on pending petitions and check why they have been pending longer than the stipulated time and added that petitions be effectively resolved. The chief minister said 11% of petitions are those filed a second time and directed the collectors to focus on why the petitioners were not satisfied the first time.

He also said that the collectors should visit RDO offices thrice a month and review issues related to revenue, lands, development activities and village/ward secretariats.

CHB planning to start online services for transfer of properties in February

By
Aishwarya Raj Singh
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Online services for transfer of properties to be started for residents by the Chandigarh Housing Board (CHB) which will allow residents to apply from their homes without visiting office.

CHB planning to start online services for transfer of properties in February

The NIC has customized the “Service Plus’” module for three services while the rest are being in process of finalization.

The three services include NOC for transfer deed of lease rights; transfer of leasehold property on registered transfer-deed of lease rights; and transfer of freehold property through sale/gift/transfer deeds.

An official said they are planning to start the services in February and certain steps like a helpdesk to be set up at the reception where one can apply through online mode need to be taken.

Yashpal Garg, CEO, CHB said, “The chief accounts officer will oversee the process with assistance of the system analyst.”

Attach property of defaulting builder, MahaRERA tells Thane collector

By
Aishwarya Raj Singh
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According to the reports the Maharashtra Real Estate Regulatory Authority (MahaRERA) has instructed the Thane collector to attach the property of a builder and recover dues of Rs 80 lakh for delayed possession of flats and pay to the buyers.

Attach property of defaulting builder, MahaRERA tells Thane collector

Last December the residents of Atlantis approached MahaRERA when they failed to get possession of their flats and also dues payable by the builder for delay in possession. Last week Dr. Vasant Prabhu, Secretary MahaRERA issued recovery warrant which gave sense of relief to the 15 residents who had invested in the Atlantis project in Panchpakhadi area of Thane.

The project involves two multi-storeyed buildings with nearly 150 flats was to be completed in 2012 but got delayed following which buyers approached the RERA in 2018 that directed the developer to pay interest to buyers starting March 2019 till the time they got their homes.

Last December matter was heard by the RERA wherein the developer refuted claims of residents and sought dismissal of the application which was rejected by the body. “It is clear the builder delayed payment of interest amount to the buyers as per previous order issued by the MahaRERA and also failed to hand over possession to them. The residents are entitled to seek interest,” said the order by Dr. Prabhu.

Vinod Doulatani, director at the STG group developing the project told TOI that the interest amount as quoted by the residents isn’t verified and needs rectification. Nonetheless, the developer claimed he will soon approach residents to take possession of their flats and settle the issue at the earliest.

Gurugram’s town planning department plans to recommend a ban on NBCC

By
Aishwarya Raj Singh
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The Town and Country Planning (TCP) department of Gurgaon received complaints of shoddy construction and poor workmanship by buyers in a group housing project delivered by the state-owned construction firm NBCC.

Gurugram's town planning department plans to recommend a ban on NBCC

Due to the complaints, TCP is planning to recommend a ban on NBCC. Residential property buyers of Green View in Sector-37D of Gurgaon are seeking a refund from NBCC based on safety issues over society buildings.

IIT Delhi in their structural audit report has also termed them “unsafe” to live in. The district town planner Sanjay Kumar said, “We will send the recommendation to the state government to not give a license to NBCC for any project till they satisfy the residents of Green View.”

However, an executive from the firm said, “Any rumor of barring NBCC from issue of license is unsubstantiated and hence denied”. According to the executive, NBCC has been taking all necessary measures to protect the interest of its buyers, including safety. As per a letter written by residential property buyers, the construction of 786 flats was initiated in 2012 and was supposed to be delivered by May 2015.

Out of 786 flats, NBCC managed to sell only 263 flats. The rest of the 523 flats remain unsold till date. G Mohanty, President, Association of Apartment Owners (AOAO), NBCC Green View said, “In a meeting in September 2021, the homebuyers’ association demanded a complete buy-back of flats with interest and other compensation, to which CMD, NBCC had agreed and said that they would put the proposal for buyback before their board of directors.”

Based on the letter, NBCC issued a notice on October 20, 2021, requesting residents to vacate their flats within 15 days for repair and maintenance of all the units without offering them any alternative accommodation. Many of the homebuyers also approached the Delhi High Court and asked for a complete refund of their money. February 23 is fixed as the next date of hearing by the court. A few homebuyers also approached the National Consumer Disputes Redressal Commission (NCDRC) to get their issues resolved.

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Kolkata civic body requested to apply strict rules for unsafe buildings

By
Aishwarya Raj Singh
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The state municipal affairs and urban development department received a proposal from the KMC to amend its buildings department rules that enable the civic administration to vacate an unsafe building.

Kolkata civic body requested to apply strict rules for unsafe buildings

Mayor Firhad Hakim, replied to a query raised by Ellora Saha, a councilor representing Burrabazar, regarding the acquisition of highly vulnerable buildings on Friday. According to him rigorous efforts were made and still going on to save the lives of residents of the city’s rickety buildings by vacating them and demolishing the portions that can be dangerous.

According to Hakim, KMC would be in a better position to reconstruct the unsafe buildings keeping the interests of the tenants intact, once the state agrees to the amendment in buildings department rules. He said, “We need stricter rules. We won’t harm the interests of the tenants as they will be given space when a condemned building is demolished for reconstruction.”

“Lucrative businesses are being run in the residential units which are not structurally sound. They don’t bother to take trade licenses from the KMC for running businesses and the electrical wires hang dangerously. They may cause a major fire incident,” Saha said. The mayor conceded it was a problem and he will look into it.

According to a survey UK landlords raise rents for new tenants by record 9.9%

By
Aishwarya Raj Singh
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In London during late 2020, as the pandemic hit the demand in big cities the rents hiked by more than 6% and they increased by 10.9% over the past year.

According to a survey UK landlords raise rents for new tenants by record 9.9%

In 2021 most landlords in Britain hiked the rents they advertise to new tenants. During the three months to December 2021, average residential rents for homes advertised on property website Rightmove were 9.9% higher than in the same quarter a year earlier.

According to the Rightmove rents in Britain would rise by a further 5% in 2022, due to lack of available properties for renters. Also, as per the statement passed by the Royal Institution of Chartered Surveyors last week, rents in Britain would rise this year.

As per the data of Britain’s statistics office, private rental prices across the United Kingdom increased by 1.8% in the 12 months to December, which is the fastest increase since mid-2017. That covers all rental contracts including new ones.

Commercial projects in Sohna Road- ‘South Gurgaon’

By
Aishwarya Raj Singh
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Some of the top commercial projects in Sohna Road- ‘South Gurgaon’

Gurugram paved the way for the growth of real estate in North India and now Sohna Road is falling in the footsteps. Sohna Road is evolving as an interesting destination with residential, commercial and mix use properties. Situated in the south of Gurugram it is also known as ‘South Gurgaon’. The economic expansion over the decades has resulted in increased urbanization and a substantial increase in the migrant population. With the influx of populace comes the need for residential homes as well as commercial complexes. The infrastructure development, quality of life index and civic amenities all are being planned and executed well and Sohna Road is witnessing a significant real estate expansion.

The packed down nature of MG Road and the high cost of Cyber City made the companies look for alternate address to save rentals as well as to stay away from the traffic hues. Sohna Road in the vicinity showed up as the best option because of easy access to NH-8 which allows businesses to access both old and new Gurgaon. Sohna Road, is thus a significant option for commercial property investment. Thus in our zest to bring you the top trending properties for investment or purchase, here are some of the biggest projects in Sohna Road.

Whiteland Urban Cubes 71

Urban Cubes 71 is a RERA approved (57 of 2021) SCO (Shop cum Office) development with a total of 34 state-of-art buildings with maximum development facing the main road making it highly attractive. The project is an ideal investment destination as it offers ownership of commercial land parcel being developed with the concept of High Street Retail encompassing jaw dropping features and elements. A landmark destination surrounded by dense catchment of almost 70,000 residential units and 33 million sq. ft. of office space is already garnering tremendous interest from major retail players for leasing across all segments.

Urban Cubes 71 enjoys excellent connectivity with NH-8 & Sohna road along with promising avenues of Gurugram and proximity to the offices of reputed MNC’s namely American Express, Google, TCS, Genpact. The project is situated across DLF Almeda, a fully developed premium residential township & in close vicinity to Tatvam Villas project. The upcoming Clover Leaf flyover connecting SPR to NH-48, NPR (Dwarka E’way) and CPR, planned to be the biggest traffic hub of Gurugram, is hardly 3 mins away from the project.

Highlights of the Projects:

  • The project is first SCO with LEED certified platinum rating; development with Centralized services; Power backup, water treatment & HVAC solutions.
  • This project is first SCO development with Horizontal leasing provision. For the first time SCO can offer larger floor plates.
  • The project is loaded with unprecedented features & elements meeting the service requirements of Retail and F&B brands across sectors
  • Situated on the junction of 150m wide Golf course road extension and 84m wide sector dividing road in the heart of SPR at sector 71, Gurugram.
  • It has 850 ft. wide frontage on Main SPR road.
  • Integrated service corridors for seamless movement across SCO units from any floor.
  • A future ready development with independent Entry/Exits on every floor.
  • Amphitheatre with LED screen for Live screenings & events.

Aspiring to reinvent the realm of Real Estate in India Whiteland Corporation headquartered in Gurugram is a new-age real estate development company based on the unique foundation “Committed to Excellence”. Their passion is to build innovative, international standard projects that set the benchmarks for craftsmanship, sustainability, and customer satisfaction.

Elan Epic

Located in Sector 70, Gurgaon, the Elan Epic is a thoughtfully planned one, equipped with all amenities for a comfortable living. The prices for this diligently designed Elan Epic project are offered in the Rs. 55. 0 Lac – 1. 10 Cr range. The property is a part of an integrated township which spreads over an area of 4 Acre. The project has a total of 510 units, constructed with robust quality.

The carefully laid out units of this Commercial complex are sure to mesmerize most buyers. This skillfully crafted project has Under Construction units. The project boasts of a range of configurations viz Commercial Shop which are charming, yet durable. These property units that are designed to offer a happy lifestyle are available from Commercial Shop (400. 0 Sq. Ft. – 600. 0 Sq. Ft.). The project is divided into 1 towers, conceptualized to offer ease of living. The launch date of this grand project is 01 December 2018. This well-constructed project is ready for possession as of 01 December 2022.

Highlights of the Projects:

  • It is equipped with all the modern facilities and amenities, such as Earth quake resistant, Gymnasium, Vaastu Compliant, Intercom Facility, Internet/Wi-Fi Connectivity and Fire Fighting Equipment.
  • The properties in Elan Epic are available in 1 configurations and 2 varied layouts (or floor plans), Commercial Shop is available in super area of 400 and 600 sq. ft. super area.
  • It has world-class fine dining hanging Pod restaurants, Bar, Food Outlets for those on the go open-air.
  • Direct Access From 90 Meter Wide Road
  • This project has early 1 Km of Retail Circuit on Each Floor
  • It also has Hong Kong Themed markets
  • Elan Epic is located on the Southern Peripheral Road (SPR) and just a few minutes away from NH-8

Elan Buildcon Private Limited is a Private incorporated on 27 May 2014. It is emerging as an Indian realty major; fully capable of delivering great value to its clients. Through wide ranging expertise, Elan Group is all set to offer unique residential, commercial and hospitality projects. The group aims at creating connection between discerning individuals and intelligent spaces to create exciting new prospects in developing India through innovations, new technologies and research.

Platinum Tower

Spaze Platinum Tower is a project by Spaze Towers Pvt. Ltd. located in Sector 47, Gurgaon, offering simple yet spaciously designed commercial shops and office spaces over a span of 3.4 acres. Spaze Platinum Tower price rate starts from Rs. 2.60 Cr onwards. The project strives to give its occupants the best investment property. Spaze Platinum Tower plot areas for its commercial office spaces range from 1242 sq. ft. to 4000 sq. ft. Spaze Platinum Tower spaces are designed with wood work, vastu/feng shui compliant and aesthetic interiors.

Spaze Platinum Tower is a RERA Certified Project. It  provides numerous essential amenities for its occupants like 24*7 power back up, lifts, water supply, RO water system, water softener, electronic security, maintenance staff, water supply, rain water harvesting, waste disposal, intercom facility, reserved parking, service & goods lift, etc.

Highlights of the Project:

  • The property is centrally air conditioned with climate control, traffic management system, ample parking spots in the basement and surface parking for visitors, 24*7 CCTV camera surveillance and firefighting equipment.
  • Spaze Platinum Tower is primly designed for Zone V seismic consideration with world class landscaping by international consultants.
  • The project is adjacent to the main Gurgaon-Sohna Highway and close by to hospitals, shopping malls etc.
  • Various utilities in the close vicinity include Tikri Gaon / Mallview Town Bus Stop, Raheja Mall, GD Goenka Public School, Medanta the Medicity, Syndicate Bank ATM, Apollo Pharmacy, Domino’s Pizza, More Hypermarket, Grand Cinemas, Bharat Petrol Pump etc.

Spaze Group currently have 16 projects spread across the city of Gurgaon. 11 of which are commercial, 4 residential and 1 IT Park. Spaze Group has established itself as one of the key players in retail and residential real estate development in Northern India: having delivered more than 5 million sq. ft. area of ready-to-occupy space in both residential and retail spaces

M3M 65th Avenue

M3M 65th Avenue in Sector-65, Gurgaon by M3M India is a commercial project. The project offers Shops and it is well connected by different modes of transportation and built by combining the strengths of well-grounded experience with the dynamic needs of modern times. The project is spread over a total area of 14.41 acres of land.  The construction is of 2 floors.  An accommodation of 800 units has been provided.

Highlights of the Project:

M3M 65th Avenue is offering amenities to facilitate all business needs like:

  • NCR’s largest 14.41 acres high street retail market
  • Catchment of Over 15000+ HNI families
  • Multiple stepped court and colossal landscape courts
  • Dedicated food courts and food zone within the premises on 1st Floor
  • Dedicated F&B (food and beverages) street creating a social hub and destination of evenings
  • Restaurants and F&B (food and beverages) outlets at different levels create an out of the world experience
  • Wall Street keeps your daily needs in check by providing an array of convenience stores.
  • Park Avenue is your chill out zone amidst landscaped parks, glittering frontage, cozy sidewalk café and organized sitting space.
  • 8 Screen PVR Complex, Exquisite Dining Avenues, Dazzling Pubs and many more

M3M today, is No.2 in India & No. 1 in North India with a reputation for identifying emerging real estate markets, recognizing aspirations in lifestyle evolution, perfecting the modulations of luxury and responding with projects that capture the unique spirit of changing India. In less than a decade, M3M has emerged as an illustrious real estate developer with speed, class and innovation being at the core of its vision. The Group has launched a slew of iconic projects, designed and developed by world-class partners. They epitomize the new bustling Millennium Gurugram.

During the last financial year, the Group recorded Sales worth 5,500 Cr. In terms of area, close to 10, 00,000 sq. mtr. (10 million sq. ft.) of real estate was developed by M3M last year, making it one of the largest real estate conglomerates across the country. Approx. 15, 00,000 sq. mtr. (15 million sq. ft.) of area will be developed by the Group in near future as well. The brand is ranked #1 in North India and is amongst top 2 brands in the country.

Orris Market 89

Orris Market 89 in Sector-89, Gurgaon by Orris Builders is a commercial project. The project offers Shops and Service Apartments and it is well connected by different modes of transportation and built by combining the strengths of well-grounded experience with the dynamic needs of modern times. This is a RERA registered project which is spread over a total area of 3.86 acres of land. Orris Market 89 has a total of 4 towers. The construction is of 13 floors.  An accommodation of 816 units has been provided. Offering 32 amenities to facilitate all business needs.

Highlights of the Project:

  • With luxury residential developments and large integrated townships located within walking distance, Orris Market 89 will be right where the action.
  • A mixed use of high street retail and studio condominium complex that is poised to stand tall amidst the skyline of Sector-89, New Gurgaon.
  • Commercial Investment Opportunity.
  • First Three Floors for Retail Shops.
  • Strategically Located on Pataudi Road.

Through a decade-long endeavor to ensure the highest possible quality of life to their patrons, Orris has quickly grown from being one of the top real estate property developers in Delhi/NCR to an organization well-diversified in the fields of Real estate, Entertainment, Hospitality, Warehousing Parks & Education. With huge land bank in Delhi NCR and over 4000 happy families, the group holds a leading position.

Jewar airport site is all set to offer 416 housing plots

By
Aishwarya Raj Singh
-

The residential plot scheme launched by the Yamuna Expressway Authority in December near the upcoming Jewar airport closed on January 24 with over 30 times the response.

Jewar airport site is all set to offer 416 housing plots

YEIDA received 13,889 applications on Wednesday for 416 plots on offer in sectors 16, 18 and 20 of YEIDA, placed 6km from the upcoming airport. These plots’ sizes vary from 120-500 sq. mt. and 1,000-4,000 sq. mt., with a circle rate of somewhere between Rs 17,400 and Rs 17,800 a sq. mt.

Maximum number of around applications were received for plots of 120 sq. mt. which is more than 7,000 applications whereas for plots of 500 sq. mt. minimum of two applications were received. Mostly, large-size plots of 1,000, 2,000 and 4,000 sq. mt.  received only 128, 27 and 21 applicants, respectively. According to officials, once the model code of conduct is lifted, the draw of plots will be conducted.

“A total of 13,889 applications were received for 416 plots offered under the scheme. This number may increase after the consolidation of data. The circle rate will be Rs 17,800 per sq. mt.  for plots up to 200 sq. mt., while it is Rs 17,400 for plots above 200 sq. mt.” said Shailendra Bhatia, OSD to YEIDA.

“This huge response shows the huge interest of people in the Yamuna Expressway area. Apart from the upcoming airport in Jewar, interest has also risen due to the different development projects that have been launched by us, including the International Film City, industrial parks and a high-speed rail project,” the senior YEIDA official added.

Earlier too, YEIDA had launched a residential plot scheme of 440 plots.

State government provided relaxation for affordable housing scheme in Rajasthan

By
Aishwarya Raj Singh
-

The Rajasthan government has given relaxation to the developers who are constructing affordable houses under PPP (Public Private Partnership) mode. Government has also provided relaxation to construct multi-storied affordable houses on private land.

State government provided relaxation for affordable housing scheme in Rajasthan

The decision was taken after the pace to construct affordable houses including economic weaker section (EWS) and lower income group (LIG) slowed down due to existing policies, which became a hindrance in achieving a target of 4,200 houses.

An official said, “For a building having height up to 45 meters, the developers will be provided 6 meter setback. For this, there will not be any requirement to seek approval of the state government. Similarly, the urban improvement trusts (UITs) and development authorities (DAs) can provide a height clearance up to 30 meters and 40 meters respectively, at its level without seeking higher approval.”

An order was issued on May 31, 2017 for the same in which registered architects were authorized to approve the projects. However, on July 17, 2018 an order was also issued in which UITs and DAs were given rights to provide height clearances, instead of architects due to which process was stalled.

An official said, “Now, in recent order issued the project approved between 2017 and 2018 by the architects will not require the state government’s permission again.”

The state government is planning to take a loan from the Housing and Urban Development Corporation Ltd (HUDCO) to complete the construction work after. “After the successful allottees of Chief Minister Jan Awas Yojana and affordable housing scheme failed to deposit instalments during the pandemic the many projects are stalled. The projects will be completed after taking the loan.”

To complete these projects department will take a loan of Rs 200 crore. While Rs 160 crore will be spent to construct the pending 19,244 houses under Jan Awas Yojana, Rs 40 crore will be spent for constructing 4,112 affordable houses.

Chargesheet filed against IREO realty group promoter Lalit Goyal, others by ED

By
Aishwarya Raj Singh
-

On Friday first charge sheet has been filed against real estate group IREO’S vice chairman and MD Lalit Goyal and others in a money laundering case related to an alleged multi-crore real estate scam by the Enforcement Directorate (ED).

Chargesheet filed against IREO realty group promoter Lalit Goyal, others by ED

A Special Prevention of Money Laundering Act (PMLA) Court in Panchkula, Haryana has taken cognisance of the chargesheet, also called the prosecution complaint, the federal probe agency said in a statement.

Mr. Goyal was arrested on November 16 last year in this case by the agency. The arrest of MD Lalit Goyal came when he was stopped from flying abroad on November 11 at the Indira Gandhi International (IGI) Airport by immigration authorities while “trying to leave the country”, on the basis of an ED-issued Lookout Circular (LOC). He is currently in judicial custody.

The agency has accused Goyal and others of perpetrating a real estate fraud alleging that “1,050 homebuyers and investors of IREO Projects like IREO Fiveriver, The Corridors, IREO City, Gurgaon Hills in Haryana and IREO Waterfront Township in Punjab, among others, had made advance payments but are yet to receive their booked flats/plots despite lapse of more than 4-5 years”.

IREO Group of companies, the ED said, could not complete its projects due to “diversion and siphoning of funds”.

ED said, “Customer receipts to the tune of ₹1,225 crore have been diverted outside India in the form of redemption, purchase, transfer and buy-back of shares, FCDs or fully convertible debentures etc. violating the FDI policy and other laws. The modus operandi adopted by the group includes routing of funds to India from various entities based in tax havens like British Virgin Islands, Mauritius, recording of fictitious expenses in the books of account, writing off project in progress, interest-free loans and advances to sister concerns and round-tripping of funds through shell companies and creation of assets within and outside India.”

ED also said the he is a “settler and named beneficiary of an overseas trust which owns and controls entities holding assets outside India”.

It said the global ‘Pandora Papers Leak’ also named four entities which are beneficially owned by Goyal and are holding assets of more than USD 77.73 million (₹575 crore approximately) overseas.

The ED’s criminal investigation against Goyal was filed after taking cognisance of as many as 30 FIRs filed by police stations in Panchkula and Gurgaon in Haryana, Ludhiana in Punjab and Delhi.

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