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Ankur Maheshwari

Ankur Maheshwari
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Budget 2022 Rs 48,000 crore allocated, 80 lakh houses to be completed in FY23 under PMAY

By
Ankur Maheshwari
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On Tuesday, Finance Minister Nirmala Sitharaman announced allocation of whopping Rs 48,000 crore for completion of 80 lakh houses under the Pradhan Mantri Awas Yojana (PMAY), both rural and urban, during the next fiscal year.

Budget 2022 Rs 48,000 crore allocated, 80 lakh houses to be completed in FY23 under PMAY

In her budget speech, the Finance Minister said, “In 2022-23, 80 lakh houses will be completed for the identified eligible beneficiaries of PM Awas Yojana, both rural and urban. Rs 48,000 crore is allocated for this purpose.”

She also said that the Centre would work with states for reduction of time required for all land and construction related approvals, for promoting affordable housing for middle-class and Economically Weaker Sections (EWS) in urban areas.

“We shall also work with the financial sector regulators to expand access to capital along with reduction in cost of intermediation,” the minister said.

To improve the land records management, she said that the states will encouraged to adopt Unique Land Parcel Identification Number to facilitate IT-based management of records.

“The facility for transliteration of land records across any of the Schedule VIII languages will also be rolled out,” she said.

The adoption or linkage with National Generic Document Registration System (NGDRS) with the ‘One-Nation One-Registration Software’ will be promoted as an option for uniform process for registration and ‘anywhere registration’ of deeds and documents.

As per the Economy survey done on Monday, 33.99 lakh houses were completed in 2020-21 and 26.20 lakh units as on November 25, 2021 under the Pradhan Mantri Awas Yojana – Gramin (PMAY-G) programme.

If we talk about the Pradhan Mantri Awas Yojana-Urban (PMAY-U), 14.56 lakh houses were completed in FY21. In 2021-22, 4.49 lakh houses were completed till December 2021.

Request received by Telangana government to reconsider hike in property registration charges

By
Ankur Maheshwari
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On Thursday amid the third wave of Covid-19, the real estate industry representatives, appealed to the Telangana state government to increase property registration charges that are expected to be implemented on February 1.

Request received by Telangana government to reconsider hike in property registration charges

The Telangana government is planning to increase registration charges in the beginning of next month by 20 percent to 50 percent based on the kind of the property. Previously in July 2021, the state had revised the registration costs and hiked the stamp duty from 6% to 7.5%

P Ramakrishna Rao, president, Credai –Hyderabad said, “Two revisions within such a short span will be difficult to withstand, especially given the current Covid-19 situation. Also, with most realty-related offices being affected because of the third wave we have not been able to complete our pending transactions. We hope the government reconsiders its decision and puts it off for later,” He also added, “The fact that the cost of raw material, particularly steel, has shot up drastically, has only added to our worries,”  The Telangana Real Estate Developers Association shared Rao’s concern to the state.

R Chalapathi Rao, president of the group said, “If this happens, within a matter of months the market value of properties will see an increase of almost 100%. How is this fair to the industry or the customers?”

He added, “We would not have objected to the increase in registration charges if the government had not revised all other fees – like stamp duty and NALA (land conversion tax) – as well. This, with the UDS menace, Covid-19 impact and higher raw material values, is going to hit the sector hard.”

Ahmedabad: The urban development officials claim 95% of properties in Nagarpalikas are illegal

By
Ankur Maheshwari
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According to the urban development officials in a recent survey of buildings or properties with mandatory Building Use (BU) permission on across the state, around 95% of the 34 lakh-odd properties under the municipality or nagar palika jurisdiction in Gujarat do not have legal BU permission.

Ahmedabad The urban development officials claim 95% of properties in Nagarpalikas are illegal

As per the officials the survey is expected to be finished by February 20 and the purpose of this survey of 8,000-odd buildings in the state is to help draft a legislation that will guide citizens to compulsorily get a BU permission for their properties.

A senior urban development department official said, “The exercise was undertaken after the high court questioned, why despite the GRUDA Act, there were several buildings in Gujarat that were devoid of legal permission. The truth is that people in municipalities and municipal corporations never came forward to get BU permission due to revenue issues.”

While highlighting the issue within nagarpalikas, the official told TOI that in case of older buildings constructed before 2007, authorities or citizens did not really care whether properties were built on land with non-agricultural (NA) clearance and, in this process, avoided applying for BU permission.

2008 onwards the state government made NA permission compulsory to apply for BU permission. The UD official said, “This flip-flop and lack of clarity on mandatory processes prior to BU requirement was the reason for this massive confusion. It also stopped people from coming forward. Now we are stuck with buildings which have 2-3 floors that are not part of the original building plans across municipalities and municipal corporations.” The UD official also said that the GRUDA Act or impact fee law came into force without conducting a scientific study.

The senior UD official also claims, “The anomaly of BU nod persisted despite the implementation of The Gujarat Regularisation of Unauthorised Development Act in 2001, which was an effort to regularize buildings made prior to November 22, 2000. A decade later, the same Act was again brought into force to regularize buildings constructed prior to March 28, 2011. Both these efforts did not solve the issue of buildings without BU.”

Satellite Hills, Indore to hand over possession to around 70 plot buyers on Monday

By
Ankur Maheshwari
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After a long wait 70 plot buyers of Satellite Hills get justice as local administration has now decided that on Monday they will provide possession over the properties they have paid for.

Satellite Hills, Indore to hand over possession to around 70 plot buyers on Monday

As per ADM Abhay Bedekar, on Friday a team of revenue officials laid a line of lime-powder as marking of plots in Satellite Hills to provide the possession to around 70-72 buyers on Monday.

He said, “There are around 90 complainants, who had purchased plots in Satellite Hills but were yet not provided the possession by the colonizers including Ritesh alias Champu Ajmera and his partners.”

Abhay Bedekar-ADM also added that remaining about 20 complainants will be returned the money by the colonizers as no plot is available in the colony to distribute them.

Kerala government to nix as many as 530 ‘Raveendran Pattayams’

By
Ankur Maheshwari
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The government has issued orders to cancel as many as 530 land titles issued by violating land assignment rules, 1964, in at least 10 villages in Devikulam taluk in Idukki, infamously known as ‘Raveendran Pattayams’.

Kerala government to nix as many as 530 ‘Raveendran Pattayams’

The land titles were issued by the then deputy tahsildar M I Raveendran, who was holding the charge of additional tahsildar in Devikulam, in 1999, by overstepping his powers.

A meeting convened by former revenue minister E Chandrasekharan on June 18, 2019 had decided to cancel all these titles, which have time and again been a controversial subject whenever the land issues in Munnar and Devikulam have come to the public domain.

On the basis of the decision, the government had constituted a five-member team led by a deputy tahsildar to examine these titles and cancel the illegal ones, while issuing fresh titles for the eligible assignees.

After a detailed examination, the five-member committee had reported the government about the fake titles and recommended that these titles be cancelled. On the basis of the recommendation of the committee, the government has now decided to cancel the titles as per the rule 8 (3) of land assignment rules, 1964 and the rules 21 (1) and 21 (4) of Kannan Devan Hill (reservation and assignment of vested lands), rules, 1977.

As per the rule 8 (3) of the land assignment rules, the registry may be cancelled owing to misrepresentation of facts or if it is assigned in excess of the limits of the powers delegated to the assigning authority or if there is an irregularity in the procedure. As per the section 21 (1), 21 (4) of the Kannan Devan Hill rules, the assignments can be cancelled if there are similar violations.

The government has also ordered the district collector, Idukki, to immediately take back the copies of the files in this regard that were confiscated by the vigilance and anti-corruption bureau for inquiry into the matter, within 15 days.

After cancelling the titles, the present title holders will have to apply for fresh titles before Devikulam tahsildar. A special team consisting of a deputy tahsildar, two surveyors, one revenue inspector and two special village officers will be deployed in each of the village where these fake titles have been issued. The district collector has been asked to finalise and shortlist the fresh applications on the basis of their eligibility, and complete the steps for assigning the titles to all the eligible applicants within two months, as per the latest order.

SDMC announces waiver of previous years’ property tax in newly regularized unauthorized colonies

By
Ankur Maheshwari
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With everyone’s eyes on the upcoming municipal polls later this year, the standing committee of the BJP-led SDMC, in its budget proposals on Tuesday did not impose any new tax and also announced a waiver of the property tax of previous years for the residents of the recently-regularized unauthorized colonies within its jurisdiction, according to an official statement.

SDMC announces waiver of previous years’ property tax in newly regularized unauthorized colonies

The Standing Committee Chairman of the South Delhi Municipal Corporation (SDMC) BK Oberoi also rejected a proposal in the civic body’s budget for 2022-23 to increase taxes on residential and commercial properties, the statement said.

Oberoi also announced that eight new health centres will be set up within the SDMC’s jurisdiction.

All the three civic bodies of Delhi — North, South and East — are scheduled to go to polls before May.

The statement said Oberoi announced a waiver of the property tax of previous years for the residents of the recently-regularized unauthorized colonies.

Oberoi was quoted as saying in the statement, “As per the amnesty scheme, property tax of residential property for previous years will be waived if a taxpayer deposits property tax of financial year 2021-22. Property tax of non-residential property for previous years will be waived if a taxpayer deposits property tax of last three financial years i.e. 2019-20, 2020-21 and 2021-22.”

The standing committee chairman also approved a proposal to open eight new health centres.

He said a computerized OPD registration facility will be started at all the health centres of the civic body.

According to civic officials, the SDMC’s revised budget estimates for 2021-22 stood at Rs 4,668.26 crore, while the budget estimates for 2022-23 stood at Rs 4,826.43 crore.

Oberoi also announced the setting up of a resource centre in each SDMC zone for Children with Special Needs (CWSN).

“Standing Committee Chairman announced a hike in the Boys’ Fund from Rs 40 per year to Rs 100 per year,” the statement said.

Civic officials said under the Boys’ Fund, an amount is given to the school principals for small-scale expenditures for the students’ benefits.

Oberoi said the SDMC has signed a memorandum of understanding (MoU) with the Indian Solar Energy Corporation to install 10-kilowatt solar rooftop plants at its buildings.

He informed the committee members that the SDMC, under the UDF Fund, has set up 20 sewage treatment plants (STPs), each with a capacity of 50 kiloliters per day, at 16 locations.

“SDMC has signed a MoU to set up a CBG plant having capacity to dispose of 100 TPD wet garbage at Hastsal. To ensure garbage management, waste segregation is being done at 16 model wards. One small mechanical sweeping-cum-jetting machine will be made available in each zone,” Oberoi was quoted as saying in the statement.

In the revised budget presentation, he said an engineered landfill site is being set up at Tehkhand, near Okhla. A waste-to-energy plant is also being set up on a 15-acre land at this site.

Assets worth Rs 410 crore of Omkar Group and Viiking Group attached by ED under PMLA

By
Ankur Maheshwari
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The ED (Enforcement Directorate) has attached flats and plots of land worth Rs 410 crore of Maharashtra-based Omkar Group and Viiking Group in a money-laundering case.

Assets worth Rs 410 crore of Omkar Group and Viiking Group attached by ED under PMLA

The group properties include flats worth Rs 300 crore of Omkar Group in Tower C of sale building namely Omkar 1973 based in Mumbai’s Worli and an open land situated at Viram in Pune worth Rs 80 crore of Viiking Group belonging to Sachin Joshi.

ED launched the investigation on the basis of an FIR filed by City Chowk Police Station, Aurangabad.

Last year on 25 & 27 January ED had conducted a search and had arrested Babulal Varma, Managing Director of ORDPL, Kamal Kishore, and its Chairman. Sachin Joshi was arrested later on.

The ED had, earlier, filed a prosecution complaint on March 26 last year before the Session Court, Bombay.

ED, during the investigation, found that loan amount Rs 410 crore was fraudulently acquired by Surana Developers Wadala, LLP a sister concern of ORDPL through falsely increased slum dwellers numbers and FSI.

“Out of Rs 410 crore, an amount of Rs 330 crore was laundered into the sale building of Omkar Group and an amount of Rs 80 crore approximately was laundered through Sachin Joshi and his Viiking Group of companies under the guise of services and investment,” the ED said.

Property tax waived off for houses upto 500 sq. ft. in Mumbai by Maharashtra cabinet

By
Ankur Maheshwari
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On Wednesday the Maharashtra cabinet approved the state government’s decision to waive property tax on houses up to 500 sq. ft. in Mumbai.

Property tax waived off for houses upto 500 sq. ft. in Mumbai by Maharashtra cabinet

Chief Minister Uddhav Thackeray had announced the decision on the New Year’s Day which will benefit 16.14 lakh residential units, the Chief Minister’s Office said in a statement.

The waiver will result in a revenue loss of Rs 462 crore for the exchequer. The Mumbai municipal corporation will bear a loss of Rs 417 crore while the state government will bear the burden for the remaining Rs 45 crore deficit, officials said.

The cabinet on Wednesday also decided to waive the tax on school buses for the period between April 2020 – 31 March 2022, the start of the coronavirus pandemic.

Vehicles owned or hired on contract by schools and used only for transporting school children will be eligible for the concession, the CMO statement said. The tax already paid would be adjusted in future dues.

 

Extension of 90 days granted by NCLAT for insolvency resolution process of HDIL

By
Ankur Maheshwari
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In a relief to an association formed by home buyers of flats to be built by Housing Development and Infrastructure Ltd (HDIL) in a project called ‘Whispering Heights’ and other buildings at Kurla, the NCLAT set aside a NCLT order of September 2021 and granted 90 days extension to a resolution profession in a ‘Corporate Insolvency Resolution Process’ (CIRP) of HDIL to enable the Resolution Professional (RP) and Committee of Creditors (CoC) to complete ‘project wise resolution’.

Extension of 90 days granted by NCLAT for insolvency resolution process of HDIL

The CIRP was initiated against HDIL after Bank of India invoked the insolvency and bankruptcy code against the developer in 2019. The RP is a person, usually a chartered accountant, appointed primarily to ensure revival of the corporate debtor. The process has to be completed in 330 days.

The association of flat buyers requested the Resolution Professional to undertake a project-wise plan which was approved by CoC on September 8, 2021 with the aim to divide HDIL assets into eight projects. The RP had thus moved the NCLT for time, which was declined as over 730 days later the CIRP was far from completion.

As per the reports the NCLAT said that the reasonable time should be given to ensure projects get completed as 1,500 flats were proposed to be built at Whispering Heights project in Kurla and the SC has said it is in the interest of all stakeholders for a corporate debtor to be back on its foot instead of being sent into liquidation.

The Whispering Tower Flat Owner Welfare Association and a similar association for Majestic Towers in Bandra which has 290 home buyers and Galaxy Apartment at Kurla as well as Sarang Wadhawan, ex-promoter of the real estate company HDIL-presently in judicial custody-had moved National Company Law Appellate Tribunal (NCLAT) against a September 29, 2021 order of the National Company Law Tribunal (NCLT) Mumbai bench which rejected the extension plea filed by Resolution Professional of HDIL, Abhay Manudhane, saying the CoC had passed the resolution due to pressure from home buyers.

Advocates Soumya Sanyal for Whispering Tower, Sunil Fernandes for Majestic Towers and Disha Shah for Wadhawan essentially sought an appeal of the NCLT order that closed the resolution process and ordered housing projects and other assets of HDIL be liquidated – in which case thousands of home buyers, many “from lower middle classs” get nothing – no flat or refund.

Greater Noida plot allottees can now get ‘no dues’ certificates online

By
Ankur Maheshwari
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The Greater Noida Industrial Development Authority (GNIDA) became the first in the state to implement enterprise resource planning (ERP) software provided by IT firm Tech Mahindra to allow plot allottees to obtain no dues certificates online.

Greater Noida plot allottees can now get ‘no dues’ certificates online

The facility, which was rolled out over the weekend for three industrial sectors-Ecotech 7, 10 and 11 is likely to be extended to include overall 143 services, like building plan approval, water and sewer connection, functional certificate, mortgage certificate, mortgage permit, map surrender certificate, address change among others officials said.

The authority also plans to provide the online service to all industrial, residential, commercial and institutional allotments, with exception of builder allotments.

“We are working on handing over the rights to allottees to get about 143 services very soon. We are the first authority in the state to introduce ERP. On January 7, we launched the beta version of the multi-pronged project Enterprise Resource Planning system. The link for ERP is available on Greater Noida Authority website,” GNIDA CEO Narendra Bhooshan said.

To avail the service, allottees will have to complete the formalities of submitting necessary documents under the ‘Know Your Allottee (KYA) option and follow a three-stage verification process using a one-time password sent to the allottee’s registered mobile number and Aadhaar number. “Till now, the authority was carrying out these works physically. Now, this right has been given to the allottees,” Deep Chandra, the ACEO of GNIDA, said.

With this, Bhooshan said, GNIDA was moving towards becoming a complete e-office. “The authority has become paperless now. With ERP, we have gone several steps ahead of other government departments to bring people’s interaction on the digital platform. It’s also the need of the hour given the spread of Covid pandemic,” he said.

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