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Property complaints will be resolved by the Chandigarh administration

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Team iPropUnited
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A camp will be organized by the administration along with the staff of all the wings, to resolve property owners’ issues of both commercial and residential properties.

The estate office Chandigarh administration is ready to organize two days camp for the public to allow the owners of both commercial and residential properties to settle property-related matters.

The authority is planning the camp on December 10-11. The staff of all the wings and senior officers of the estate department will available at the time of camp to give resolutions to the people’s objections.

According to the reports, multiple issues like completion certificates of the properties, building plans, updation of property records, online applications, transfer of properties, etc are key issues.

This will be the second such camp in recent, also It is expected that the department will provide resolutions for the hurdles in the online system as people could believe to make use of the online platforms in the time ahead.

Of late, the UT administration recently transferred many employees to other departments, who either completed three years here or not performing to rationalize the estate office, also the department had identified some corrupt officials.

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Developers in Kalyan and Dombivli prepared forged documents to get certified by RERA

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Team iPropUnited
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The architect is in danger for exposing the scam involving renowned developers, IIAA demanded to provide police security for him.

Architect Sandeep Patil exposed the RERA scam in Kalyan and Dombivli involving 65 developers. The architect community supported him and seek for his security.

The Indian Institute of Architect Association asks the Thane police to provide police protection to Sandeep Patil in a news conference on Monday. The community said that his life is in danger for exposing the scam, which involved many influential people.

Patil exposed 65 developers in Kalyan-Dombivli who prepared an illegal copy of the documents to get the RERA certificate and did not take any permission from the town planning department of KDMC.

Patil alleged that the Special Investigation Team is investigating the case, is under threat, and has not yet arrested many developers who were involved in the scam.

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Make any changes in 7/12 extracts by applying online

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Team iPropUnited
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Citizens can make any changes in 7/12 extracts without visiting the revenue offices. They can apply for the changes online by registering on the public data entry portal.

Officials said that the state settlement commissioner’s office of Maharastra, has developed software that will allow citizens to make any change in mutation entry of 7/12 extract by registering on the portal, and corrections will be made within 40 days.

This facility will enable any landholder of the state to apply online for changes, said Sarita Narke, state director of Digital India Land Records Modernisation Programme.

Sarita Narke said that the software is easy to use and will help to avoid congestion in the talathi offices, bringing more transparency to the process. Also, citizens can track the status of their applications.

Sarita Narke said that the facility was launched during the Covid period but fewer people were aware of it. The facility needs to be used by more people for carrying out changes in the 7/12 extracts.

The process for registering and applying for changes in the portal is simple.

For registering one has to visit the Mahabhumi website and click on e-HAKK link that will open the portal for registration. Thereafter one can choose from 10 services, including applications for corrections, name addition, and heirship by going on 7/12 mutations.

To apply for any changes the services will require scanned documents after that an application will be generated. The application will be forwarded to the talathi online for verification of the documents and the mutation number will be generated if the documents get verified.

The official said that one can track the documents as well as application status by using the mutation number on the main Mahabhumi website under Bhulekh and the Aapli Chavadi portal.

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Greater Noida Authority issued a policy, said that building’s facade is mandatory to lighten up at night

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Team iPropUnited
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Officials of local authority said that compliant with policy the facade areas of the building will require to lighten up at night, and soon it will be mandatory for highrise buildings and the major roads of Greater Noida. According to the policy, 40% of the building’s facade will have to be light up.

In the first phase, lights will be installed on buildings on both sides of the 105m wide road before the Noida Authority office and on a 130m wide road connecting Greater Noida with Noida Extension.

Some house and commercial outlets in the Alpha and Delta sectors will be lighten up along with the road before the authority office in Knowledge Park IV and the 22km road linking Greater Noida and Noida Extension.

The authority has came up with tihis plans to adorn the city, roundabouts and other public places with are instructed to be painted with vibrant colours.Ritu Maheshwari, Greater Noida authority CEO, instructed officials to make a policy on façade lighting in a recent review meeting.

Ritu Maheshwari said that the lightning up the roads and highrise building will enhance the city’ beauty. Housing projects, Educational institutes and corporate offices will be asked to lighten up the building’s facade by installing light on the sides of the building facing towards the main road.

Noida Authority had prepared a policy in August 2022, includes that lighting up the facades of the buildings will be mandatory on the Noida-Greater Noida expressway.

According to the policy four months are given to the building owners from the issued date of letter and the layout will have to include the clause of installing lights, otherwise the layout will not be approved.

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Jiangxia District government retrieved the land-use over undeveloped sites at the Evergrande Technology Tourism City

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Team iPropUnited
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Jiangxia district’s Planning and Natural Resources Bureau stated that the government of the district had recouped the land use throughout undeveloped sites at the Evergrande Technology Tourism City.

A report by the district’s Planning and Natural Resources Bureau, the government of Jiangxia District, central city of Wuhan has recouped the rights of land-use throughout undeveloped sites at the Evergrande Technology Tourism City on November 16.

Municipal district said the 134,500 hectares of land had been retrieved that had been previously held by a unit of debt-laden developer China Evergrande Group and had not paid for it.

The unit of Wuhan Baden City Investment Co Ltd has occupied the land as developer of Evergrande Technology Tourism City

A right to use the land is the Chinese equivalent of ownership, eventually the state always held the title.

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Statements of Shriram Housing Finance on merger talks, valuation may pose hurdles

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Team iPropUnited
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In an especial interaction, managing director of Shriram Housing Finance Ravi Subramanian said ET, “There is only one active prospect that we are pursuing, but there again, valuation is a hurdle. I won’t pay recklessly to grow,”

Shriram Housing Finance, a subsidiary of Shriram City Union Finance is trying to achieve a modest lender in the affordable housing spaces for acquisition and creating a new joint organization while the valuation mismatch can erupt obstructions to the scheme.

The targeted company is probably to be in the Rs 2,000-3,000 crore league.

Further Subramanian said, “the discussions are still going on. But we have to get them to the table at the end of the day.. If it works out, it is ok. If it does not, we will be building ourselves,”

The lender is analogously planning a Rs 1,000-crore capital raise to fund its business growth which is probably to be in the first quarter of the next financial year. Shriram City Union Finance comprises 85% in its housing unit infused Rs 500 crore last year into it.

According to the MD, the mortgage lender recorded a loan asset growth of 54% YoY to Rs 6,546 crore by the end of September and is heading to achieve the Rs 10,000 crore mark by September 2023, ahead of the earliest target of March 2024.

He said, “That is why we are not willing to bend backwards and make an offer at any valuation.”

It can also strengthen the vast network of the Shriram group for business growth.

Further Subramnian said, “So there are two independent channels (organic and inorganic), which we are pursuing at full steam.”

About 35-40% of its business ensue from the southern states—Karnataka, Tamil Nadu, Andhra Pradesh and Telangana and analogously being very strong in Gujarat.

The official said that the company may explore finding a new investor for capital raising.

He said, “Last time we raised money from our existing investors, but this time, we will most likely go outside and discover.”

The company was about to achieve Fullerton India Home Finance in 2020 earlier Sumitomo Mitsui Financials ultimately bought it, according to the familiar people of that matter.

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Over Rs 190 crore raised from anchor investors ahead of IPO- Keystone Realtors

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Team iPropUnited
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Morgan Stanley, Saint Capital and Abu Dhabi Investment Authority had nearly 35 per cent of the anchor investor share.

NEW DELHI: Rustomjee, a brand owned by Keystone Realtors on Friday said it saw participation from a wide variety of investors and has collected above Rs 190 crore from anchor investors’ days before its initial public offering (IPO). The company has decided to allot 35.21 lakh equity shares to 16 anchor investors at Rs 541 apiece, taking the transaction size to Rs 190.5 crore, according to a circular uploaded on BSE website.

Apart from Abu Dhabi Investment Authority, Morgan Stanley and Saint Capital the domestic mutual funds such as Aditya Birla Mutual Fund, IDFC Mutual Fund, Tata Mutual Fund and Quant Mutual Fund also participated in the anchor investor portion. The international anchor investors accounted for nearly 35 per cent of the anchor investor portion.

SBI Life Insurance and HDFC Life Insurance Company too were part of the anchor investors.

The Mumbai-based Keystone Realtors is aiming to raise Rs 635 crore through the IPO, which consists of a fresh issue of equity shares totaling up to Rs 560 crore and an Offer-For-Sale (OFS) worth Rs 75 crore by promoters.

The issue, will open for public subscription on November 14 and conclude on November 16 starting with a price band of Rs 514-541 a share.

As part of the OFS, promoter Boman Rustom Irani will now sell shares worth up to Rs 37.5 crore and stocks to the tune of Rs 18.75 crore each will be offloaded by Percy Sorabji Chowdhry and Chandresh Dinesh Mehta.

The company plans to use the net proceeds for funding the repayment/prepayment of borrowings made in past to the tune of Rs 341.6 crore. Funds will be directed for funding the acquisition of future real estate projects and general corporate purposes.

Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 27 equity shares and in multiples thereof.

Founded in 1995, Keystone Realtors has 32 completed projects, and has 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR) that includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under their Rustomjee brand.

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Unauthorised construction blight to city’s orderly development: Delhi HC

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Team iPropUnited
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It was observed during dismissing an appeal against an order of demolition of unauthorised construction carried out in a property in south Delhi’s Hauz Khas.

NEW DELHI: Unlawful constructions are a nuisance to orderly development of the city of Delhi, which is already at its full mature capacity and cannot be allowed to continue to stand in perpetuity, the high court has observed. The observation came while dismissing an appeal against an order of demolition of unauthorised construction carried out in a property in south Delhi’s Hauz Khas.

Justice C Hari Shankar did not interfere with the September 14 order of a trial court, which had also dismissed the challenge to tribunal’s decision of ordering demolition of unauthorised construction on the property.

“Unauthorised constructions are a bane to orderly development of the city, which is already bursting at its seams and cannot be allowed to continue to stand in perpetuity,” Shankar said.

The Municipal Corporation of Delhi (MCD) had issued a show cause notice way back in September 2011 alleging that unauthorised constructions had taken place at the property in Hauz Khas whereas the demolition order was issued in October that year.

The owner of the property challenged the show cause and demolition order before the high court in 2013, which had quashed the demolition order and asked the petitioner to give a reply to the notice.

The property was again booked for demolition with a notice on December 9, 2020, alleging more unauthorised construction there. The demolition order was challenged before the MCD tribunal, a trial court and the high court, which refused to grant any relief.

“It’s now nearly 10 years since the order dated February 8, 2013, was passed by this court…. It’s time that a quietus was arrived at and the dispute set at rest,” the high court said.

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Breather for cooperative housing societies as AGMs & audit deadlines extended due to the back log because of Covid- Mumbai

By
Team iPropUnited
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According to housing society federations several societies took longer time this year to clear their audit for earlier fiscal 2020-21 due to Covid and thus had a backlog for recently ended fiscal 2021-22 to be cleared yet.

MUMBAI: Over 65,000 cooperative housing societies across Mumbai metro region have been offered extra time by the state government to hold their AGMs till December 31 and audit submissions till Oct 31.

The last date for AGMs and audit submission for the recently ended fiscal 2021-22 was set as September 30 which the Maharashtra Societies Welfare Association (MahaSeWA), a federation of cooperative societies in the state, wanted to be extended till the end of this year so that auditors and societies could get enough time to complete delayed accounting procedure without much hassles.

About only 25% societies have submitted their accounts so far with a many still remaining to complete the required formalities according to experts lookout.

Majority societies are already struggling hard to get their deemed conveyance (land title transfer to society from builder) and redevelopment approvals that have been stuck due to legal complexities and the red tape besides issues related to lack of unanimity among members, fee escalations, fights for nominations, titles and maintenance, and alleged corruption.

Poor performance of website in accepting audits online, lack of enthusiasm among administrators, lack of accountability in the process, and overloaded registrars who have to handle 2000 societies each are some of the other reasons that are leading to delays, say activists

In the absence of deemed conveyance the land ownership of housing societies is still in the hands of builders who rent out terraces to cell tower and advertisement companies, besides selling or using parking, TDRs and FSIs to earn money.

Since conveyance and redevelopment had to go through multiple state government departments, they were taking much longer time, say cooperative activists however pointing out that conveyance proposals were getting cleared faster after reaching the consumer court.

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Illegal structures survey begins in forest areas of four villages of Faridabad

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Team iPropUnited
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GURUGRAM: In forest areas of four villages of Faridabad, the Haryana government has started the verification of structures built. Officials in the forest department said they would need four days to verify the status of the land and anyone found to have built the structures illegally would be sent show-cause notices from next week.

Supreme Court order of July 21 states that the land notified under special orders of Section 4 of the Punjab Land Preservation Act, 1990, should be treated as forest and Provisions of the Forest (Conservation) Act, 1980, would be applicable in these areas.

Some of the villages where land is notified under the PLPA are Ankhir, Mewla, Maharajpur, Anangpur and Lakkarpur. According to forest department’s data, around 850 acres are notified under Section 4 of the PLPA in these four villages. Officials said mostly small farmhouses and boundary walls are built on the land.

Raj Kumar, divisional forest officer of Faridabad said, “We have prepared a list of such properties and started the verification of land documents. We are assessing the status of the land in the four villages where constructions have taken place in forest areas. Once the documents are scanned, the owners of illegal properties would be sent notices from next week,”

Additional chief secretary (forest and wildlife) Vineet Garg said the properties built before October 24, 1980 — when the Forest (Conservation) Act came into effect — would be exempt from demolition if the owners submit evidence.

In keeping with the Supreme Court order, Garg had on September 14 directed the Faridabad district forest officer to “prepare the list of structures, based on satellite image, drone-mapping along with ground report… so as to ensure that no unauthorised structures are left behind.”

The SC judgment — in the Narinder Singh Vs Divesh Bhutani case — was based on appeals filed by property owners against a 2013 NGT order, which had restrained any non-forest activities on PLPA-notified land in Anangpur.

Another appeal that had been clubbed to the petition was against a notice to remove illegal farmhouses and banquet halls on forest lands in Anangpur, Ankhir and Mewla Maharajpur.

PLPA, enacted in 1990 to preserve land from erosion, is currently applicable in 10 districts of Haryana — Panchkula, Ambala, Yamuna Nagar, Nuh, Gurgaon, Palwal, Faridabad, Mahendergarh, Rewari and Bhiwani.

So far, the government has sent show-cause notices to the owners of more than 130 structures built illegally in the Aravalis in Faridabad.

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