24-june-2019 · largest retail development 2.5-million-sq-ft lulu international shopping mall in...

24-June-2019

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CREDAI Bengal Daily News Update | 24.06.19

MHADA LODGES COMPLAINT AGAINST UNISPACE

HEIGHTS' DIRECTOR FOR CHEATING

Hemant Arya, director of Unispace Heights Pvt Ltd, has allegedly violated agreement for 2

Matunga flats

The Matunga police have lodged an FIR against Hemant Arya, Director, Unispace Heights Pvt Ltd,

on charges of cheating and criminal breach of trust of IPC levelled by MHADA‘s Mumbai Building

Repairs and Reconstruction Board (MBR&RB). The charges were based on a complaint that the

developer has violated the preconditions of NOC for redevelopment by not executing an agreement

for two redeveloped flats in Annapurna Bhavan, a 12-storey cessed building in Matunga‘s

Mahilashram Road.

MBR&RB is the nodal agency for redevelopment of cessed buildings under DCR 33 (7) and one of

the preconditions for granting NOC to Unispace Heights in April 2010 was that the builder had to

sign a registered agreement for Permanent Alternate Accommodation of the rehab flats.

The complaint, lodged by MBR&RB Executive Engineer, F North Division BS Walekar, was filed

after repeated complaints by 52-year-old Dr Dipti Patankar and her 81-year-0ld mother Vibhawari

Naik, co-lessees of the building plot who were allocated flats 901 and 902, that the developer had

violated the agreement terms.

In her complaints to MHADA, Patankar and Naik had alleged that Unispace Heights Pvt Ltd had

agreed to provide 1000 sq ft flats to them, but actually provided rehab 693.95 sq ft carpet area for flat

901, and 693.63 sq ft carpet area for flat 902 in violation of the development agreement.

Though the mother-daughter took possession of the flats in November 2017 under protest, they

refused to sign the agreement for the new flats unless they were compensated for 307 sq ft of carpet

area for each flat lost. Their complaint says the developer included fungible, duct area, lift lobby and

other dry service area in the carpet area, and claimed flat 901 had 911 sq ft carpet, and flat 902 had

899 sq ft.

―How can other unusable and illegal areas be included in our carpet area? How can the lift lobby

outside my flat door be included in my carpet area? The development agreement says the lessee flats

will be 1000 sq ft including 880 sq ft plus 120 sq ft usable carpet area for duct, boxes, lift lobby,‖

said Dr Patankar, who had also demanded one year‘s outstanding rent from April 2017 when the

developer obtained Part OC till March 2018.

Newspaper/Online ET Realty (online)

Date June 24, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/mhada-lodges-complaint-against-unispace-heights-director-for-cheating/69920472

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Following the dispute, a joint measurement was carried out by MBR&RB‘s deputy engineer on

December 6, 2017, together with the resident architect of Unispace Heights which confirmed 693.95

sq ft and 693.63 sq ft carpet areas of both flats.

The MBR&B Chief Officer Dinkar Jagdale had on May 8 asked the developer to execute and register

agreements for the two flats as per ―the carpet area provided as per MCGM approved plans and

without including the other unusable areas‖.

Developer Hemant Arya, who was in Australia when contacted, denied that he has given less carpet

area and questioned the actions by MBR&RB and the Matunga police in lodging the FIR.

On behalf of Arya, his lawyer advocate Harshvardhan Salgaokar said, ―The allegation is false as the

carpet area is provided as promised. The BMC carpet measurement done by authorities confirms this.

The owner has been sent repeated requests, reminders for registering the flat but she has not replied

to those requests.‖

On the issue of rent, Salgaokar said ―Rent is payable until OC is received and that requirement has

been duly complied with. Also, this issue had been referred to the police by the complainant much

earlier, but the police closed that inquiry on the basis that the case is civil in nature.‖ He said the

agreement has an arbitration clause, but his client‘s offer to go for arbitration to resolve the dispute

was not accepted by the owners.

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JAYPEE BUYERS PROTEST AT JANTAR MANTAR,

SEEK GOVERNMENT INTERVENTION

In their petition to Sitharaman, the homebuyers have appealed to the government to direct

IDBI Bank and NBCC to resolve their differences on the resolution plan and IDBI Bank to

vote for NBCC's resolution plan.

NEW DELHI: Homebuyers of Jaypee Infratech Sunday urged the government to direct IDBI Bank

to vote in favour of state-run NBCC's bid for the acquisition of the debt-ridden firm and prevent it

from going through liquidation process. On Sunday, hundreds of Jaypee homebuyers held protest

at Jantar Mantar here and are planning to submit a petition to Finance Minister Nirmala Sitharaman

in this regard.

In their petition to Sitharaman, the homebuyers have appealed to the government to direct IDBI Bank

and NBCC to resolve their differences on the resolution plan and IDBI Bank to vote for NBCC's

resolution plan.

They also demand that the majority vote of homebuyers in the CoC be treated as the vote of the

whole voting sub-class of home buyers.

Debt-ridden realty firm Jaypee Infratech's creditors, which include banks and homebuyers, met last

week to assess the progress of the ongoing insolvency proceedings and decide the future course of

action.

According to sources, the Committee of Creditors (CoC) did not take any decision on the way

forward. The decision on whether to consider bids of Adani Group or Jaypee Group would be taken

after a hearing in this matter in the National Company Law Appellate Tribunal (NCLAT) on July 2.

This is the second round of bidding process to revive Jaypee Infratech, which went into insolvency in

August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an

IDBI Bank-led consortium.

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Date June 24, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/jaypee-buyers-protest-at-jantar-mantar-seek-government-intervention/69920406

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DLF-GIC JOINT VENTURE TO BUILD OVER

2.5 MILLION SQ FT MALL IN GURUGRAM

The new project, to be known as Down Town, will be constructed on a 23-acre land parcel

owned by DLF in Gurugram.

GURUGRAM: Singapore‘s sovereign wealth fund GIC is strengthening its alliance with India‘s

largest listed realty developer DLF as it seeks to participate in helping build the country‘s

biggest retail mall of more than 2.5 million sq ft, said two persons with direct knowledge of the

development.

The new project, a retail and commercial-led mixed-use development to be known as Down Town,

will be constructed on a 23-acre land parcel owned by DLF in Gurgaon. The plot is on the highway

opposite DLF‘s 2.5 million sq ft commercial project Cyber Park.

―The retail mall will be part of this 8 million sq ft project that will also have component of serviced

apartments, five-star hotel and commercial development. The project will be developed in two-three

phases in more than five years,‖ said one of the persons cited above.

The development, to be executed through DCCDL, is expected to supersede the country‘s current

largest retail development 2.5-million-sq-ft LuLu International Shopping Mall in Kochi and DLF‘s

own 2-million-sq-ft Mall of India in Noida.

The DLF-GIC joint venture was formed in late 2017 after the promoters of the realty firm K P Singh

and his family had sold their stake in rental arm DLF Cyber City Developers Ltd (DCCDL) to the

Singapore investment firm.

In addition to their commercial leasing business engagement, GIC and DLF are already working on a

high-rise residential project with estimated saleable area of 7 million sq ft near Central Delhi. This

project in Delhi‘s Moti Nagar will be DLF‘s first residential project under the newly initiated

business model of selling ready-to-move-in homes.

―The DCCDL platform in joint venture with GIC has been designed to take the form of a business

trust, a private Real Estate Investment Trust (REIT),‖ said the other person.

ET‘s mailed queries to both GIC and DLF remained unanswered.

Under the agreement with GIC, DLF can sell completed, yielding commercial projects to this joint

venture or build-to-suite yielding commercial assets for this entity. It can also sell land parcels

earmarked for commercial development in the near future to this joint venture.

DLF has already identified certain assets and land parcels for transfer to DCCDL and has been in

talks with GIC for the same.


Date June 24, 2019

Link https://realty.economictimes.indiatimes.com/news/retail/dlf-gic-joint-venture-to-build-countrys-largest-mall-in-gurugram/69920446

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As part of transaction between DLF and GIC in late 2017, the promoter family had sold the entire

40% stake in DCCDL for Rs 11,900 crore or $1.9 billion. This deal included sale of 33.34% stake in

DCCDL to GIC for Rs 8,900 crore or $1.4 billion and buyback of the remaining shares worth Rs

3,000 crore or $0.5 billion by DCCDL.

Global private funds, including Blackstone Group, Canada Pension Plan Investment Board (CPPIB),

APG Asset Management, Xander Group and GIC, have started investing in the retail sector to

diversify their investment portfolios in the country and more funds are eyeing such alliance

opportunities.

In one of India‘s biggest transactions to help build a property investment platform, private equity

major Warburg Pincus last month entered into a $1-billion alliance with Mumbai-based developer

Runwal Group to fund retail-led mixed-use projects across the country.

Leasing activity in retail real estate has been on the rise and several prominent malls are witnessing

robust inquiries for more space from leading brands. In the absence of incremental supplies, demand

is rising as existing occupiers are seeking larger spaces.

Private equity investors have revived their interest in retail real estate, after a few years of reduced

focus, as part of a strategy to diversify investment portfolios at a time when consumption levels are

on the rise. Indian retail real estate witnessed over 300% year-on-year jump in investments at Rs

1,000 crore during the quarter ended April, showed recent data from Cushman & Wakefield.

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STUDENT HOUSING SEGMENT CATCHING THE FANCY

OF GLOBAL FUNDS & BUILDERS

India has the youngest population in the world, with approximately 18% of the 1.3 billion-

strong population aged between 15 and 24 years.

BENGALURU: Institutional investors and builders are showing a lot of interest in India‘s

growing student housing segment as they look to tap the potential of this segment.

Global funds and local developers such as Warburg Pincus, Sequoia Capital, Goldman

Sachs and Shearwater Ventures are either invested or has firmed up plans to invest in this space.

Student accommodation across India is expected to reach 13 million beds over the next five years

from 8 million at present. Currently, the bulk of the student housing demand is serviced by the

unorganised sector comprising rented accommodations and private hostels which often fall short of

students‘ expectations, said a recent Knight Frank report.

―The Indian student population base is growing consistently; this growth coupled with push from the

government to promote more enrolment for higher education is a perfect recipe for the student

accommodation market to flourish. The forecast is promising and is likely to offer investment

opportunities in this alternate asset class for domestic and international investors,‖ said Shishir

Baijal, chairman & managing director, Knight Frank India.

While about $100 million has been invested into the

Indian student housing market in 2018, Knight Frank

estimates the current potential demand for student

housing in the country to be approximately $50

billion.

―The demand-supply gap along with huge demand

for shared accommodation has led to an increasing

interest from investors to build and operate high

quality alternative accommodation,‖ said Rajeev

Bairathi, managing director, Shearwater Ventures.

The firm plans to roll out 5,000 beds for student

housing in north India over the next year under the

MiNest brand.

―India has a large addressable rental population

across students and young professionals which is

expected to grow significantly as a result of rapid urbanization, increasingly unaffordable housing

prices/rentals and shortage of on campus housing infrastructure,‖ said Anish Saraf, managing


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/allied-industries/student-

housing-segment-catching-the-fancy-of-global-funds-builders/69900905

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director, Warburg Pincus, that has formed joint venture with Lemon Tree Hotels to set up rented

accommodation for students and professionals.

India has the youngest population in the world, with approximately 18% of the 1.3 billion-strong

population aged between 15 and 24 years. By 2020, the Indian government wants 30% of all in the

age group of 18 to 23 years to be enrolled in higher education courses. This would increase the

country‘s student population to 40 million, a figure which is nearly double the current number of

students studying in the US.

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CREATE A 'STRESS FUND' FOR COMPLETING STUCK PROJECTS: HOME BUYERS

BODY TO GOVERNMENT

Forum For People’s Collective Efforts (FPCE), which was earlier known as Fight for RERA

and had taken lead to push for the real estate regulation law, has also suggested the

government to notify home buyers as “primary secured creditors” instead of the current status

of “unsecured creditors”, which puts them in disadvantage when insolvency proceedings start

against the builders.

NEW DELHI: An apex body of home buyers has demanded the government to set up a Rs 10,000

crore ―stress fund‖ for completing pending real estate projects in the next five years. It has suggested

government should strip off personal and company assets of promoters of delayed projects to recover

the amount spent for completing the works using the ‗stress fund‘.

Forum For People‘s Collective Efforts (FPCE), which was earlier known as Fight for RERA and had

taken lead to push for the real estate regulation law, has also suggested the government to notify

home buyers as ―primary secured creditors‖ instead of the current status of ―unsecured creditors‖,

which puts them in disadvantage when insolvency proceedings start against the builders.

A secured creditor is usually a bank or other asset-based lender that holds a fixed or floating charge

over a business asset whereas unsecured creditors include suppliers, customers and contractors. The

unsecured creditors rank after the secured creditors in insolvency proceedings.

Highlighting that homebuyers have put their lifetime savings and face risk of losing, the consumers‘

body in a letter addressed to finance minister Nirmala Sitharaman said, ―We suggest the government

should immediately, either through the Finance Bill or otherwise, move an amendment to the

Insolvency and Bankruptcy Code, providing for home buyers to be made ‗primary secured

creditors‘.‖

The consumers‘ organisation in its suggestion for the full Budget to be presented next week has

sought the government to constitute a task force under the housing ministry to identify projects

nearing completion and can be taken first using the ―stress fund‖. It also suggested that a public

sector company can be assigned with the task to complete them.

Earlier, a high-level panel set up by Uttar Pradesh government had recommended creating a similar

fund for viable stuck projects in Noida and Greater Noida.

___________________________________________________________________________


Date June 24, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/create-a-stress-

fund-for-completing-stuck-projects-home-buyers-body-to-

government/69920509

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INDORE CIVIC BODY DEMOLISHES TWO DANGEROUS BUILDINGS

Officials said that an illegally constructed two-storeyed building at Sikandarabad Colony in

Juna Risala and a triple-storeyed building of Abhimanyu Verma at Murai Mohalla in

Chhawani were demolished by anti-encroachment wing of IMC.

INDORE: Continuing with the drive against dilapidated structures, Indore Municipal

Corporation (IMC) on Friday demolished two residential buildings in Juna Risala and Chhawani.

The civic body had already declared both these multi-storeyed buildings as not fit for living.

Officials said that an illegally constructed two-storeyed building at Sikandarabad Colony in Juna

Risala and a triple-storeyed building of Abhimanyu Verma at Murai Mohalla in Chhawani were

demolished by anti-encroachment wing of IMC. Three families were living in the first building,

which was constructed next to a nullah. Officials claimed that the building was construction without

permission, and its foundation had become weak. ―The building had already tilted a bit, and posed

serious life risk,‖ said officials.

IMC vehicles and staff had to get into the nullah to bring the structure down as there was no space

for team to carry out demolition. The entire building came down within a few seconds after its

foundation was struck and it was pushed by an earth moving machine towards the nullah to prevent

any damage to property located next to it.

At Murai Mohalla, IMC staff had to face heavy opposition from occupants of a 60-year-old building.

Over 45 people including women and children lived in it. IMC had been requesting them to vacate to

avoid any untoward incident.

―The entire structure was in bad shape. Even our staff was scared to enter the building. Despite

repeated warning notices, occupants were not ready to leave, so we went ahead and forced them to

vacate before demolition,‖ said IMC deputy commissioner MS Chouhan.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/indore-civic-body-demolishes-two-dangerous-buildings/69899625

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KOLKATA CIVIC BODY TO DEMOLISH 'HIGHLY INSECURE' BUILDINGS

The mayor said that the civic body would take care of the rights of the tenants and ensure that

no tenants are evicted.

KOLKATA: The civic body has decided to demolish ‗highly insecure‘ buildings which have

become vulnerable in the monsoon. Mayor Firhad Hakim announced this at the civic body‘s monthly

meeting on Saturday. Hakim was replying to a query from Prakash Upadhyay, a Congress councillor,

who sought to know about the fate of insecure buildings across the city.

Hakim conceded that it was becoming extremely difficult for the Kolkata Municipal

Corporation (KMC) buildings department officials to protect several dilapidated buildings which

have grown old and developed major cracks. ―We don‘t want loss of lives following collapse of

insecure buildings — particularly in monsoon. I have asked the buildings department officials to

identify extremely vulnerable buildings and demolish those at the earliest to save the lives of the

inmates,‖ Hakim said.

However, the mayor said that the civic body would take care of the rights of the tenants and ensure

that no tenants are evicted. ―In most cases, tenants die every time an insecure building collapse

because. The residents insist to stay in the dilapidated buildings and seldom move out in fear of

losing the property,‖ Hakim said.

After identifying and demolishing a dilapidated building, the KMC buildings department will set up

makeshift homes for the tenants at the site. This apart, the KMC assessment department will record

names of each tenant to protect their interest. Finally, the buildings department will be asked not to

sanction plans of any buildings or structures on the same land without a proper rehabilitation of the

tenants. ―We need to take these measures to safeguard the interests of tenants. Otherwise, the tenants

may get deprived of their rights once a dilapidated building is demolished,‖ Hakim said.

A KMC buildings department senior official conceded that over 100 buildings were in vulnerable

state and needed to be demolished immediately.

―Going by the borough-wise list of insecure buildings, we need to demolish over 100 buildings to

save the residents. But in most cases, tenants resist any demolition drive fearing that they would be

rendered homeless,‖ a KMC buildings department official said.

___________________________________________________________________________


Date June 23, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/kolkata-civic-body-to-demolish-highly-insecure-buildings/69912723

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KOLKATA CIVIC BODY STARTS DRIVE AGAINST PROPERTY TAX DEFAULTERS

The KMC assessment department has chosen 10 wards across central and south Kolkata as

part of a three-month drive to mop up over Rs 100 crore from prime commercial properties.

KOLKATA: In a bid to augment revenue, Kolkata Municipal Corporation (KMC) has launched a

drive against major property tax defaulters in the city. According to a KMC revenue department

official, majority of the defaulters own commercial properties and each of them owes tax worth Rs 1

crore or more to the civic body.

The KMC assessment department has chosen 10 wards across central and south Kolkata as part of a

three-month drive to mop up over Rs 100 crore from prime commercial properties.

The drive that had started on June 18 has yielded results. According to a KMC assessment

department official, the civic body has already mopped up Rs 9 crore from a well-known property

located on Middleton Street. The entire property (G + 18 storey building) was rented to several

private and government offices.

The dues had been pending for a decade. Promit Chatterjee, a deputy assessor-collector of the KMC

assessment department, said that more prominent properties would be raided in the next two months

to mop up the pending revenue. ―We have formed several crack teams to take on the habitual

property tax defaulters,‖ Chatterjee added.

As part of the drive, the KMC has been taking several steps to make the defaulters pay up the

pending taxes. The civic authorities will first put up posters on the defaulters‘ properties. In the next

step, they will send distress warrants, asking the owners to pay the dues within a stipulated time.

Failure to pay outstanding property tax on time, even after being served the distress warrant, will

attract final punitive step, which will empower the civic body to auction the properties of the

defaulters to realize the dues.

The KMC has planned to send distress warrants to many properties in the Central Business District

(CBD), including in areas like U N Bramhachari Street, Camac Street, Chowringhee Road and

Theatre Road. Besides, many properties in prime commercial areas like Park Circus, Ballygunge,

Elgin Road, Bhowanipore and areas located off Eastern Metropolitan Bypass will also be raided as

part of the stringent drive, said a KMC assessment department official.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/kolkata-civic-body-starts-drive-against-property-tax-defaulters/69901937

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MAHARASHTRA GOVERNMENT GETS RAILWAY

LAND FOR DHARAVI PROJECT

The rehabilitation process can be started without further delay with this land, he said.But the

government will have to see if this violates the sanctity of the bid that was already floated by

the state

MUMBAI: Chief minister Devendra Fadnavis, while replying to the Opposition in the legislative

assembly, said the state government had acquired 45 acres of land from the Railways for Rs 800

crore for the Dharavi redevelopment project.

The rehabilitation process can be started without further delay with this land, he said. But the

government will have to see if this violates the sanctity of the bid that was already floated by the

state.

"We will seek the advocate-general's opinion if fresh tenders have to be invited or the process can be

carried out with the two bids we have received before obtaining the railway land," he said.

The state government had sought around 107 acres of land, but the railways made available 45 acres

only.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/maharashtra-government-gets-railway-land-for-dharavi-project/69902561

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LUDHIANA: GLADA OFFICIALS DEMOLISH

MORE THAN 30 ILLEGAL COLONIES

The demolition was carried out in villages Kutbewal Arian, Noorwala, Bahadurke, Kasabad,

Jamalpur Leli, Sujatwala, Khawajke, Rahon Road, Gaunsgarh, Meharban , Kakka, Dhoula,

Bhamian Kalan and Hawas of Ludhiana district under the supervision of GLADA officials.

LUDHIANA: The officials of Greater Ludhiana Area development Authority (GLADA) cracked

down whip on under construction illegal colonies at various places in the city on Friday. The officials

demolished more than 30 illegal colonies with the help of police force. The demolition was carried

out amidst resentment in the colonizers.

The demolition was carried out in villages Kutbewal Arian, Noorwala, Bahadurke, Kasabad,

Jamalpur Leli, Sujatwala, Khawajke, Rahon Road, Gaunsgarh, Meharban , Kakka, Dhoula, Bhamian

Kalan and Hawas of Ludhiana district under the supervision of GLADA officials. More than 35 cops

from police station Meharban and Jamalpur and security personnel from Pesco accompanied in the

process.

Sonam Choudhary, estate officer (regulatory) said that more such demolition drives will be carried

out in the coming days.

Bhupinder Singh, additional chief administrator, GLADA, appealed colonizers to stop such illegal

development of colonies and apply for regularization in the current regularization policy. He also

appealed the residents not to buy plots in such unauthorized colonies.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/ludhiana-glada-

officials-demolish-more-than-30-illegal-colonies/69902035

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BRING DOWN CONSTRUCTION CAP IN RED ZONE

TO 600 YARDS IN MAVAL: SHRIRANG BARNE

Red zone is an area around defence plots like ordnance factories, where construction is not

allowed. Areas around Dehu Road and parts of Talawade have been facing issues due to the

limitations in red zones.

PUNE: Maval MP Shrirang Barne raised the issue of red zone in the Lok Sabha on Friday,

suggesting that the limit of construction from these areas be brought down to 600 yards (0.54 km)

against 2,000 yards (1.8 km) from the outer crest wall of certain defence establishments in Maval.

Red zone is an area around defence plots like ordnance factories, where construction is not allowed.

Areas around Dehu Road and parts of Talawade have been facing issues due to the limitations in red

zones.

Barne said in his 2-minute speech that many people had houses within the red zone and most of them

were registered legally with the local authorities. ―Many of the houses and factories are within what

Army defines as a red zone. Yes, the security concerns are also important but these houses and lands

have been registered by local authorities and people have paid for them. In 2013, the armed forces

had increased the red zone area to 2,000 yards from 600 yards. This needs to be scaled back,‖ he

said.

Industry representatives said they were unable to get government clearances or bank loans as many

micro, small and medium enterprises had land in the red-zone area.

Experts, however, said the MP would have to fight a long battle for it to be resolved. ―I have already

taken it up 7-8 times with the ministry of defence in the previous tenure. The ministry had assured

action as late as in April 2018 meeting,‖ Barne told the lawmakers.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/bring-down-

construction-cap-in-red-zone-to-600-yards-in-maval-shrirang-barne/69902246

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CITIZENS & SMALL BUILDERS IN VIJAYAWADA

HIT BY NON-AVAILABILITY OF SAND

However, since the officials are not making the sand available to anyone other than those with

valid permissions, citizens constructing their houses face a problem.

VIJAYAWADA: Citizens of Vijayawada and those in Krishna district continue to suffer as the state

government reviews the existing free sand policy. Citizens constructing their houses and numerous

small builders in the city are hit by non-availability of sand.

While announcing the scrapping of existing sand policy, the government directed all district

collectors to continue the free sand policy and ensure uninterrupted supply of sand. Accordingly,

Krishna district collector Mohammed Imtiaz held a meeting with officials and allotted sand reaches

in the district to the companies carrying out various infrastructure works.

However, since the officials are not making the sand available to anyone other than those with valid

permissions, citizens constructing their houses face a problem.

In Krishna district, there are four sand reaches operated by the government at Chevitikallu, Kanchala,

Kasarabada and Sanagapadu. All the four reaches are allotted to companies executing big infra

projects like Kanaka Durga flyover, Benz Circle flyover and national highway expansion. Anyone

who wants sand from these reaches will need approvals from revenue department. Those in need of

sand for construction are, therefore, running from pillar to post to get approvals. This has angered

locals who cannot mine sand now. ―It will cost me a lot to fetch sand from Kanchala. The process of

taking approval itself is time consuming and my project got delayed. I thought I will complete the

works before the onset of monsoon,‖ said M Sambasivarao, an irked city resident who was building

his house.

Recently, angry locals stopped vehicles carrying sand at Kanchala.

Mohammed Imtiaz, on the other hand, said they are facilitating everyone including individuals in

need of sand. ―Some reaches are located far away and here, the people are suffering. However,

situation will stand like this till the new policy comes into force. We are expecting new policy to

come in a day or two,‖ he said.

___________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/industry/citizens-small-

builders-in-vijayawada-hit-by-non-availability-of-sand/69901283

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BUILDERS WILL HAVE TO REVEAL DRINKING WATER SOURCE: KARNATAKA

DEPUTY CM

According to sources, the statement came after a few apartment dwellers made oral complaints

about not getting adequate Cauvery water.

BENGALURU: Deputy chief minister G Parameshwara, who also holds the Bengaluru development

portfolio, on Friday sent builders into panic mode by announcing they will soon have to give an

undertaking revealing from where they plan to source potable water for apartment complexes they

develop on the city‘s outskirts.

―Apartment complexes are coming up everywhere and Bengaluru‘s growth is unstoppable. The

source of drinking water for apartment dwellers on the outskirts is the biggest concern. We want to

resolve the issue by getting builders to reveal from where they plan to provide potable water. They

(builders) can‘t wash their hands of the responsibility by providing only borewell water,‖

Parameshwara said at an event in Malleswaram.

According to sources, the statement came after a few apartment dwellers made oral complaints about

not getting adequate Cauvery water. The increasing level of total dissolved solids (TDS) in borewell

water, which ups the risk of skin diseases, is among the primary complaints from people living on the

outskirts.

The Confederation of Real Estate Developers Association of India, however, is not amused. Suresh

Hari, chairman, Credai-Karnataka chapter, said it‘s the government which needs to provide potable

water to every citizen and not builders.

―All adequate measures are taken till the project is under builders. Once it‘s handed over to the buyer

association, we don‘t know they tackle the water crisis and from where tankers are called. We do

provide Cauvery water connections to apartment complexes and each unit by paying pro rata charges

to the BWSSB, and it‘s their responsibility to provide water,‖ he explained.

Credai-Karnataka chapter president Kishore Jain echoed his views. ―If Cauvery water is not enough,

it‘s the government‘s responsibility to find other sources,‖ he added.

Parameshwara is expected to meet water board and urban development department officials to

discuss amendments to the Bangalore Water Supply and Sewerage Board (BWSSB) Act. Tushar

Girinath, BWSSB chairman, said: ―This is a multi-departmental issue. The urban development

department, housing department, BWSSB and law department need to take a call.‖


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/industry/builders-will-have-

to-reveal-drinking-water-source-karnataka-deputy-cm/69901220

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STPs mandatory for high-rises

Parameshwara said BWSSB will make it mandatory for builders to construct sewage treatment plants

in highrise apartments so that treated water can be utilised for gardening and other purposes.

According to norms, new complexes with 20 or more units need to have their own STPs.

___________________________________________________________________________

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GURUGRAM: HOUSING FOR OFFICERS NEXT TO ADMIN HUB

Beside the proposed administrative tower that will house government offices in a single

complex, there will also be a residential complex with 1,500 flats, said an official on Saturday.

GURUGRAM: The city will soon get a residential complex for government officers working at mini

secretariat and other employees of the Gurugram administration.

Beside the proposed administrative tower that will house government offices in a single complex,

there will also be a residential complex with 1,500 flats, said an official on Saturday.

This was discussed in a meeting chaired by additional secretary (revenue) Keshni Anand Arora on

Saturday.

According to the layout plan, there is a proposal to construct a women‘s police station. A community

centre will also come up inside the complex, the official said. Moreover, the flats are expected to be

in a 15-storey building. However, the architect of the structure said the number of floors is subject to

change.

Arora said the new administrative and residential complex will have 25-metre to 30-metre wide roads

on four sides of the complex. ―A three-level parking has also been planned for the complex. The

basement of the tower will have the parking space of around 4,000 vehicles,‖ said an official.

Arora, in a meeting in March this

year, had formed a committee

under PWD superintending

engineer Chandramohan to

prepare a layout for the

administrative tower.

The officials in that meeting

were also told to come up with

a comprehensive traffic

mobility plan for the area

around the administrative tower. Besides this committee, Arora had also formed another committee

to draw up a list of all the government departments, which will be housed at the tower.

While the departments at the mini secretariat will get a new administrative complex, the demand for

an office for the Municipal Corporation of Gurugram is not being fulfilled.


Date June 23, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/gurugram-

housing-for-officers-next-to-admin-hub/69912771

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On June 22, mayor Madhu Azad raised the issue with MCG commissioner Vinayak Singh. The

commissioner had told Azad that he has spoken to the officials and was told that the office will be

built in the Vyapar Bhawan at the Mehrauli road.

A proposal to develop a complex to house HSVP, MCG and GMDA were also discussed in a house

meeting of the MCG.

___________________________________________________________________________

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CHANDIGARH HOUSING BOARD TO OFFER 3 BHK FLAT FOR RS 1.76 CRORE

Earlier, the CHB had estimated Rs 2.08 crore for a three BHK flat, Rs 1.64 crore for a

two BHK flat, Rs 1 crore for a one BHK flat and Rs 60 lakh for one BHK (EWS) flat.

CHANDIGARH: The Chandigarh Housing Board (CHB) would provide a three-bedroom

hall kitchen (BHK) flat for Rs 1.76 crore and a one BHK flat for Rs 99 lakh to allottees under

a housing scheme in rates double of similar flats in the market and even of some of the CHB.

The CHB through a public notice has asked all successful applicants of the UT Employees

Self Finance Housing Scheme 2008 to give their consent within 21 days for payment in five

instalments with applicable interest.

Earlier, the CHB had estimated Rs 2.08 crore for a three BHK flat, Rs 1.64 crore for a two

BHK flat, Rs 1 crore for a one BHK flat and Rs 60 lakh for one BHK (EWS) flat. As the

decision was taken to construct the flats for UT employees on ―no profit no loss‖ basis, the

prices were calculated to Rs 1.76 crore for a three BHK flat, Rs 1.35 crore for a two BHK

flat, Rs 99 lakh for a one BHK flat and Rs 58.07 lakh for a one BHK (EWS) flat. When the

scheme was

announced in 2008,

the rates were Rs

34.70 lakh for a three

BHK flat, Rs 24.30

lakh for a two BHK

flat, Rs 13.53 lakh for

a one BHK flat and Rs

5.76 lakh for a one

BHK (EWS) flat.

Raj Kumar Pal, chief

patron, Property

Consultants

Association,

Chandigarh, said, ―The

CHB is not a private builder but a government body. The rates finalised by it are on the

higher side. A three BHK flat is available in CHB‘s own scheme in Sector 63 between Rs 80

lakh and Rs 1.05 crore. The CHB should reconsider its decision.‖ A successful applicant of

UT‘s employees housing scheme said when the scheme was floated in 2008, the price of a

two BHK flat was around Rs 24 lakh. He was hopeful of owning a house in Chandigarh.


Date June 23, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/chandigarh-

housing-board-to-offer-3-bhk-flat-for-rs-1-76-crore/69912740

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―After 11 years of struggle, the CHB is asking me to pay an unrealistic amount. This is not

acceptable,‖ he said.

On the other hand, a senior CHB official explained the prices are on the higher side because

the ministry of home affairs had permitted the UT administration to allot land only on

collector‘s rate. As the collector‘s rate was higher, the prices of the flats had also increased.

―We cannot do anything as we are constructing the flats on no profit-no loss basis,‖ he said.

Housing scheme approved on Jan 2

On January 2, the cabinet chaired by Prime Minister Narendra Modi approved the proposal of

UT employees‘ housing scheme pending since 2008. Recently, the Centre had submitted

before the Punjab and Haryana high court that the proposal to allot 61.5 acres of government

land to the CHB for the purpose had been sent to the cabinet secretariat.

Total land of 73.3 acre was earmarked for the construction of 3,930 dwelling units for the UT

employees. Out of which, 11.8 acre was already in the possession of the Chandigarh Housing

Board (CHB). Around 61.5 acre of government land was to be allotted to the Chandigarh

Housing Board.

The Chandigarh Housing Board (CHB) was appointed as a nodal agency for implementation

of the scheme. Accordingly, it advertised the scheme on leasehold basis for 99 years for the

employees of the administration in 2008.

_____________________________________________________________________

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NAVI MUMBAI: WITH 16 PROPOSALS VASHI TOPS LIST OF REDEVELOPMENT

PROJECTS

The identification committee, appointed by the state government, has cleared 18 proposals as

of now, of which 16 are in Vashi, one each in Koparkhairane and Nerul nodes.

NAVI MUMBAI: The oldest and the most developed node, Vashi has sped ahead with

redevelopment plans of dilapidated buildings.

The identification committee, appointed by the state government, has cleared 18 proposals as of now,

of which 16 are in Vashi, one each in Koparkhairane and Nerul nodes.

There are some 30-40 redevelopment proposals sent to the committee for scrutiny, according

to NMMC.

A civic source said, ―redevelopment will now speed up because the relaxations made for obtaining

clearances from high-rise and environment committees.‘‘

Redevelopment of Cidco buildings has got a boost with the state government granting 2.5 FSI and

relaxing the norm of consent of two categories of condominiums—housing societies and

associations.

The societies now require 70:30, while associations 51% consent of flat owners.

The slump in the construction industry was expected ease and the changes effected by the Fadnavis

government for easing redevelopment in 2017 is now expected to yield the desired result, said

observers.

An earlier study conducted by the civic body had stated that the redevelopment was the future of the

city involving huge investments.

The NMMC confirmed that a branded real estate developer (Godrej) has entered the redevelopment

sector in housing construction, and currently the proposal for redevelopment of a cluster of buildings

on two adjacent plots in sector 9, Vashi has been moved by the housing society.

Redevelopment proposals are largely moved by developers, but in this case the agreement between

flat occupants was yet to be inked with the developer, the civic body said.

The Cidco buildings in Vashi have often reported ceiling collapse and injuries sustained by

residents.

They are decrepit run down and were declared ―unfit for human habitation'' way back in 1997 by

Bombay IIT in its audit report.


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/navi-mumbai-

with-16-proposals-vashi-tops-list-of-redevelopment-projects/69899451

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These are largely JN 1, JN 2 and some JN 3 type buildings. JN 1, JN 2 are very small and will now

stand to benefit through 2.5 FSI for redevelopment. There are 135 buildings in sectors 9 and 10 in

Vashi.

___________________________________________________________________________

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MAHARASHTRA'S RATIONING OFFICE TO GET BACK

FLOOR IN RELIANCE CENTRE AFTER 22 YEARS

The past two years have been riddled with legal notices going back and forth, and now the food

and supply department has paid Rs 22.34 crore to the land acquisition officer in the District

Collectorate for reoccupying the space.

MAHARASHTRA: Government‘s Food and Supply department is all set to take physical

possession of the prime 6,216 sq feet space on the third floor of Reliance Centre in Ballard Estate.

The department occupied the floor until January 1997, when Reliance asked them to vacate the

building owing to repairs and renovation. When the building was ready to reoccupy in 2002, the

department, then called the rationing office, was allegedly denied re-entry. The matter went to court

and Reliance lost the case in 2017.

The past two years have been riddled with legal notices going back and forth, and now the food and

supply department has paid Rs 22.34 crore to the land acquisition officer in the District Collectorate

for reoccupying the space.

Kailash Pagare, controller of rationing and director of civil supplies, confirmed to Mumbai Mirror

that his department has completed the payment as per the award announced by the Collector‘s office

and they are waiting to get physical possession of their original office space.

Milind Ingle, superintendent of Mumbai city land records, told Mirror that a two-day notice will be

issued to the parties concerned before physically occupying the building. ―If the other party refuses

to accept the notice, then our officer will stick a copy of it on the building and take one-sided

possession after 48 hours,‖ Ingle said.

The story so far

Built on Bombay Port Trust land, Reliance Centre (Crescent House in 1997), was owned by ICI, a

Kolkata-based company. The State Controller of Accommodation, a dedicated department involved

in allocating space to various government departments, earmarked 6,216 sq feet in the building for

the controller of rationing in 1970.

The property came into Reliance‘s possession when an undivided Reliance Industries took over some

ICI businesses in the early 1990s. Until 1997, the third floor of the building was occupied by the

deputy controller of rationing. That year, Reliance decided to rebuild the place and asked the

department to temporarily vacate the premises and offered them alternate space in Mistry building on

Gunpowder Road, in Mazgaon.

However, the department‘s bid to reclaim the floor was allegedly blocked in 2002 when the building

was ready. A bitter legal battle ensued and the Supreme Court ordered in favour of the state


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/commercial/maharashtras-

rationing-office-to-get-back-floor-in-reliance-centre-after-22-years/69901098

of 34

government. Meanwhile, the food and supply department has had offices at Khanna building in

Worli and Supply House in Parel.

Mumbai Mirror sent an email questionnaire to a Reliance spokesperson but did not receive any

response till the time of going to press.

___________________________________________________________________________

of 34

TWO CRORE HOUSES TO BE BUILT IN VILLAGES

UNDER PMAY IN THREE YEARS: PRESIDENT

Addressing the joint sitting of both Houses of Parliament, the President said women are being

given priority in the registration of houses being built under the PMAY in the rural areas.

NEW DELHI: Nearly two crore houses will be built in the villages under the Pradhan Mantri Awas

Yojana in the next three years, President Ram Nath Kovind said Thursday.

Addressing the joint sitting of both Houses of Parliament, the President said women are being given

priority in the registration of houses being built under the PMAY in the rural areas.

The Pradhan Mantri Awas Yojana has two parts -- PMAY (Gramin) and PMAY (Urban). Under the

mission, the government aims to ensure 'Housing for All'.

"Under this scheme, nearly two crore new houses will be built in the villages during the next three

years," Kovind said.

In his speech, he also stressed on the urban transport infrastructure to cater to present and future

requirements.

While developing infrastructure, attention is also being given to address the challenges posed by

pollution, he said.

On the issue of the National Common Mobility Card (NCMC), the President said, "The facility of

'One Nation, One Card' has been launched to realise the dream of seamless mobility.

In March this year, Prime Minister Narendra Modi had launched the indigenously-developed NCMC

to enable people to pay multiple kinds of transport charges, including metro services and toll tax,

across the country.

Dubbed as 'One Nation One Card', the inter-operable transport card would allow the holders to pay

for their bus travel, toll taxes, parking charges, retail shopping and even withdraw money.

The President said the government was developing a transport system, which is not only fast and

safe, but also environment friendly.

"For this, special emphasis is given to public transport. The metro rail network is being expanded

rapidly in several cities," he said.

__________________________________________________________________________


Date June 22, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/two-crore-

houses-to-be-built-in-villages-under-pmay-in-three-years-president/69883701

of 34

DDA TO TURN AREAS AROUND METRO

STATIONS INTO COMMERCIAL HUBS

A DDA official told TOI that this TOD policy was put in the public domain for suggestions and

criticism, which have been received.

NEW DELHI: As part of its Transit Oriented Development (TOD) policy, Delhi Development

Authority plans to turn areas around busy Metro stations into commercial and residential hubs. As

part of a pilot project, these hubs are expected to come up at the metro stations at Mayur Vihar

Extension, Dwarka Sector 21, Rohini Sector 18, Mukundpur, Sarojini Nagar and INA.

A DDA official told TOI that this TOD policy was put in the public domain for suggestions and

criticism, which have been received. The official added that the final draft will soon be put before the

DDA board for approval, following which work on developing the areas near the five metro stations

will begin. These stations have been chosen keeping in the mind their high footfall.

The plan to develop high-density commercial-cum-residential areas near metro stations was initiated

to reduce congestion and pollution on Delhi roads. With areas near the metro stations being

developed as TOD nodes, people will be able to visit them for work, shopping or recreation by the

metro, thereby reducing pressure on the roads.

These hubs will be built by private developers by following the guidelines laid down by DDA and

Unified Traffic and Transportation Infrastructure (Planning & Engineering) Centre. Builders will

develop them on their own or form a consortium with other developers if required. They will have to

submit detailed plans and designs of the hub to a committee, which will have officials of the land-

owning body and local civic agencies. Once the NOC is given, work will go on under the supervision

of DDA.

While the TOD policy earlier focused on mixed development along transit corridors, its objective has

now been changed to focus on high-density, mixed-use developments around transit nodes. As part

of the policy, apart from busy metro stations, areas near transit nodes such as railway stations and

rapid rail stations will also be developed.

With the draft policy now nearly ready, work on the project is expected to begin as soon as the draft

is approved during the authority's meeting chaired by Delhi LG Anil Baijal.

The policy allows a high floor area ratio of 500 for development of areas around such nodes.

___________________________________________________________________________


Date June 21, 2019

Link https://realty.economictimes.indiatimes.com/news/commercial/dda-to-turn-

areas-around-metro-stations-into-commercial-hubs/69887101

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ONLINE PROPERTY CARD APPLICATION SYSTEM

SOON IN MANGALURU: DISTRICT COMMISSIONER

The district will also introduce SMS alert system to share updates on the status of property

card applications to the applicants.

MANGALURU: Soon, the property owners in Mangaluru will be able to submit applications for

property card online.

Dakshina Kannada district administration is preparing to launch the online application portal for the

convenience of property owners under the Urban Property Ownership Records(UPOR) project of the

department of survey, settlement and land records.

The district will also introduce SMS alert system to share updates on the status of property card

applications to the applicants.

Property card has been made mandatory for all land transactions in Mangaluru city from June 10.

Deputy commissioner S Sasikanth Senthil said while the SMS alert system will be launched within a

week, the online application portal will be ready within two weeks.

―Property owners may submit applications for property cards online by uploading the copies of sale

deed, khata and other documents. After the verification, the applicants will be given draft property

cards within 48 hours if all records are in order. The final property cards will be issued within 30

days after the issue of draft property cards. In case of any shortcomings in the documents, applicants

will be given an appointment to visit the property card registration centre,‖ the DC said.

On current status of property card distribution in Mangaluru, Senthil said out of 1,53,466 properties

in 32 villages within Mangaluru City Corporation (MCC) limits, final property cards have been

distributed to 22,206 applicants as on June 17.

While documents have been collected from applicants of 88,031 properties, approval has been given

for 41,579 draft property cards, wherein 28,584 cards have already been distributed.

After making property card mandatory for land transactions, 43 property registrations took place in

the Mangaluru Sub-Registrar Office, the DC said.

―Property card is a very useful revenue record, which every property owner should obtain. However,

people need not rush to the property card registration centres in a hurry. Only those who are making

property transactions need to obtain the same immediately and others may apply for it in the days to


Date June 21, 2019

Link https://realty.economictimes.indiatimes.com/news/technology/online-

property-card-application-system-soon-in-mangaluru-district-

commissioner/69891014

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come. We have made all arrangements to speed up the process of property card distribution. While

four tahsildars and 40 surveyors are working for the purpose, an average of 80 – 100 applications are

being processed every day,‖ he added.

___________________________________________________________________________

of 34

CHENNAI: SUNDARAM FINANCE TO ACQUIRE SUBSIDIARY, SUNDARAM BNP

PARIBAS HOME FINANCE

The acquisition will make the housing finance company a wholly owned entity of Sundaram

Finance.

CHENNAI: BNP Paribas Personal Finance has agreed to sell its entire 49.9% stake in mortgage

lender Sundaram BNP Paribas Home Finance Limited to its partner Sundaram Finance Limited

(SFL), for Rs 999.67 crore.

This sale comes amid BNP Paribas Personal Finance decision to exit housing finance business in the

retail sector.

The acquisition will make the housing finance company a wholly owned entity of Sundaram

Finance.

―Given the strong synergy with the SFL‘s auto lending and related businesses, this acquisition will

further strengthen our footprint in the retail financial services space,‖

T. T. Srinivasaraghavan, managing director of SFL, said.

―We have built up a successful and respected brand in the housing finance sector in India. BNP

Paribas Personal Finance has added a lot of value to the technical aspects of the business and been a

valued business partner,‖ he added.

The housing finance company, had reported a net profit of Rs 146 crore in FY 2019.

___________________________________________________________________________


Date June 21, 2019

Link https://realty.economictimes.indiatimes.com/news/allied-industries/chennai-

sundaram-finance-to-acquire-subsidiary-sundaram-bnp-paribas-home-

finance/69883600

of 34

KMDA STARTS FEASIBILITY STUDY FOR RUBY

FLYOVER AND FOOT OVERBRIDGE

_________________________________________________________________________

Newspaper/Online The Times of India

Date June 24, 2019

Link https://timesofindia.indiatimes.com/city/kolkata/kmda-starts-feasibility-study-

for-ruby-flyover-and-foot-overbridge/articleshow/69920380.cms

of 34

BUILDING WITH 150-YR-OLD HOSP GETS ER MAKEOVER

_________________________________________________________________________

Newspaper/Online The Times of India

Date June 24, 2019

Link https://timesofindia.indiatimes.com/city/kolkata/building-with-150-yr-old-

hosp-gets-er-makeover/articleshow/69919909.cms

of 34

OYO SEES SPACE FOR A GLOBAL HOSPITALITY PROPERTY FUND

___________________________________________________________________________

Newspaper/Online The Economic Times

Date June 24, 2019

Link https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/oyo-sees-

space-for-a-global-hospitality-property-fund/articleshow/69920495.cms?from=mdr

of 34

NBFCS ASK RBI TO RELAX TIMELINE FOR LIQUIDITY COVERAGE NORMS

___________________________________________________________________________

Newspaper/Online The Economic Times

Date June 24, 2019

Link https://economictimes.indiatimes.com/markets/stocks/news/nbfcs-ask-rbi-to-

relax-timeline-for-liquidity-coverage-norms/articleshow/69920840.cms

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