Subscribe in NewsGator Online

Add to Technorati Favorites!

Follow by Email


Most Popular Links

Monday, December 31, 2012

Residents brace for battle

GURGAON: Residents of New Palam Vihar colony and the Haryana Urban Development Authority (HUDA) are on a collision course after the latter decided to start construction work on the stretch of the Northern Peripheral Road (NPR) project close to New Palam Vihar in Gurgaon.

HUDA is racing against the March-end deadline for the completion of the project. Senior HUDA officials claimed that all the obstacles coming in the way of the ambitious project would be cleared. “The completion of the project in all the stretches is a top priority and for that the Gurgaon police’s help has been enlisted. There are certain areas where a large number of policemen are required to remove illegal structures,” said a senior HUDA official on condition of anonymity. As per tentative plans, HUDA officials, accompanied by police personnel, would start demolition next week.

The project is crucial for improving road connectivity between Gurgaon and Dwarka. The 150-metre-wide roads will connect Dwarka and Kherki Dhaula on NH-8. The one-kilometre stretch near New Palam Vihar is turning out to be the biggest battle for HUDA.

Fearing a violent backlash from the residents, HUDA has also sought massive police presence to accompany them for the demolition drive near New Palam Vihar colony. Refusing to reveal details of the demolition drive, another HUDA official said: “The request for sending adequate number of police officers has been accepted and several teams of HUDA officials have been formed already.” The HUDA officials are not disclosing the exact numbers of houses or plots, which might face the axe in the forthcoming demolition next week. “The details have been prepared in consultation with the legal team and survey of the exact site map. For clearing these structures the required permission have already been sought,” said the official.

The NPR work came to a halt due to a high court stay secured by over 300 houseowners in New Palam vihar colony.

As per the new strategy, HUDA has now singled out the plots, houses and other structures, which are not covered under the court’s stay. The problem now is that some of these structures are close to the colony and not covered under the court’s order. And the residents are opposed to any work on those plots as well. “We will not allow any construction activity in the vacant plots or land or structure inside the colony. Allowing HUDA to work here will make life difficult for all the residents,” said a colony resident.

On Friday, the residents stopped the demolition of a factory and the HUDA officials had to leave the site. “The residents will not allow any construction work in or near the colony,” said another resident.

HUDA officials, however, defend their right to take over the plots and start working. “The construction work will happen on the vacant plots which are not covered by the court orders. The residents should not have any problems with that,” said another HUDA official.


Friday, November 30, 2012

Plot owner ask to pay extra money

GURGAON: The Haryana Urban Development Authority (HUDA) Thursday asked plot owners in sectors 27, 28, 42, 43 and 57 here to shell out by December 1 extra amount of money on their properties in view of the increased compensation to land owners in these sectors.

HUDA officials said the financial burden was passed on to the plot owners after a court order directed the authority to increase the compensation payouts in the five sectors. ,The sector-wise break-up of the extra amount to be paid by plot owners is: Rs 6,282.25 (sector 27), Rs 5,269.39 (sector 28), Rs 4,847.39 (sector 42), Rs 4,678.41 (sector 43), and Rs 5,612.80 (sector 57). People from the economically weaker sections, barring those in sector 28, will also have to bear the extra financial burden of Rs 698.03 (sector 27), Rs 538.61 (sector 42), Rs 519.83 (sector 43) and Rs 799.09 (sector 57).


Wednesday, October 31, 2012

Lucknow Development Authority to demolish illegal structures in Lucknow

LUCKNOW: To check the rampant unauthorised constructions across the city, Lucknow Development Authority vice-chairman Rajiv Aggarwal has instructed executive engineers to start immediate demolition of unauthorised constructions and illegal structures. They have also been asked to provide photocopies of the sanctioned maps of various housing projects to people, if demanded, as per the Information Act 2005.

The vice-chairman held a meeting on Tuesday with the executive engineers to initiate an effective drive to prevent unauthorised constructions in the city. “In order to make people aware of various constructions happening in their area, it would be mandatory for the engineers to provide photocopies of the sanctioned maps of that multistory buildings or group housing societies if required by them. This would help them to know if the construction is legal or not,” said Aggarwal.

Aggarwal added that executive engineers who would delay in providing maps copies would be taken to task.


Sunday, September 30, 2012

Greater Noida-Ghaziabad link to be ready soon

GREATER NOIDA: Work on completing the 22km link road between Greater Noida’s Zeta sector and NH24 is likely to start next week as Greater Noida Authority (GNA) and Ghaziabad Development Authority (GDA) claim to have cleared the remaining encroachments on the way. A 1.5km portion of the alignment has been pending for almost nine years now due to various reasons.

GDA on Friday said it would relocate the 50-odd farmer families who have their residential plots on the road alignment to land provided by GNA in Chipiyana village, Greater Noida, in the next 10 days. GNA had allotted 7.71 acres to GDA in July for rehabilitating the affected families.

The 130m wide signal-free road, when completed, will cut down travel time between Greater Noida and Ghaziabad to just 20 minutes. The road begins at the New Holland factory in Greater Noida and meets NH24 at the Vijay Nagar bypass in Ghaziabad. It will be extended later to the Meerut highway.

GNA CEO Rama Raman told TOI that most of the 22km road is ready. However, work could not start on the 1.5km stretch as the abadi land of Bahrampur Akbarpur and Chak Birampur villages lay on it. While GNA managed to settle the issue with the villagers, GDA did not have land to relocate them.


Thursday, August 30, 2012

Despite slowdown, housing prices bullish across cities

According to the residential real estate index prepared by the National Housing Bank (NHB), the housing prices in 16 cities including Delhi, Mumbai, Chennai, Bangalore, Pune, and Kolkata improved in the quarter ending June 2012, compared to the previous quarter ending March 2012.

In fact, in most of these cities, prices improved quarter after quarter since January-June 2009 quarters barring in a few exceptions like Bangalore, Hyderabad , Jaipur, and Indore, where prices have corrected in some quarters.

But when compared to prices in January-June 2009, when the index was first announced , the prices in the latest quarter have shown a significant jump.

It is also because January-March 2009 was the first quarter when the impact ofglobal bank crisis of 2008 was fully realized. In fact, the index of property prices in Delhi continued to fall till January – March 2010, when the index touched 106, from 121 in January-June 2009.

According to the NHB, the prices of residential properties in 16 cities have shown an increasing trend in the range of 1.1% in Kochi to 10.5% in Pune, in April-June 2012 quarter , against the previous quarter.

At the same time, it saw marginal decline in three cities – Jaipur, Hyderabad and Indore. Faridabad remained stagnant in this quarter.

According to the data prepared by the NHB, the maximum increase was observed in Pune, by 10.5%, followed by Bangalore (8.7%), Patna (8.6%), Ahmedabad (6.4%), Ludhiana (5.3%), Lucknow (4.1%), Mumbai (3.7%), Delhi (2.6%), Kolkata (2.6%), Bhubaneswar (1.7%), Bhopal (1.7%), Chennai (1.7%), Surat (1.2%), Guwahati (1.2%), Vijayawada (1.1%), and Kochi (1.1%).

Three cities have shown marginal decline in prices over the previous quarter, with a maximum decline of 2.6% observed in Jaipur, Indore (2.4%), and Hyderabad (1%).

The data has been prepared by NHB RESIDEX, which tracks the movement in prices of residential properties on a quarterly basis, an exercise it has been conducting since 2007.

However, according to the NHB Residential Index, the property prices in the NCR region increased by around 11% in the last one year, while a close look of different micro markets give a different picture.

The property prices in certain developing pockets like Dwarka Expressway in Gurgaon went up by almost 50-80 % in the last one year. Similarly, in other developing pockets like New Gurgaon and Golf Course Extension Road, property prices have gone up by 30-50 %.

In Noida, prices of property on the Noida-Greater Noida Expressway increased by almost 30% since June 2011. In Ghaziabad too, prices in Indirapuram and Vaishali went up by around 30%. In certain pockets like Crossings Republik, where possessions have been given to buyers, the prices have improved by almost 50% in the last one year.

However, prices in the matured markets of Delhi, Gurgaon , and Noida have not appreciated so sharply during the period, as they are already very high. As in the index, when prices of properties located in different areas are taken into account, it does not give a clear picture. But, the index has vastly improved and reveals the prevailing bullish trends in the property markets in the NCR.

Compared to prices in January-June 2009, when the index was first announced , the prices in the latest quarter have shown a significant jump

Tuesday, July 31, 2012

RBI monetary policy: Realty firms unhappy over decision to keep rates changed

NEW DELHI: Real estate firms and property consultants today expressed disappointment over RBI’s decision to keep rates unchanged and said the sector urgently needs cut in interest rates to boost housing demand.

“There is once again disappointment from RBI. There was no change in the rates in previous policy announcement and the real estate sector was expecting a rate cut this time,” said Lalit Jain, President of the apex realtors’ body CREDAI.

“We don’t see any positive policies from government which will boost the real estate sector and economy as well,” he added.

The Reserve Bank today left key interest rates unchanged. Property consultant CBRE South Asia Chairman and Managing Director Anshuman Magazine said: “The RBI’s decision to keep the rates unchanged is very disappointing. The real estate market direly needed a rate cut to boost investor sentiment”.

The realty sector is the growth-engine of the nation’s economy, but it seems the sector does not figure in RBI’s policies at all, Magazine added.

Cushman & Wakefield Executive Managing Director, South Asia Sanjay Dutt said RBI maintaining status quo on policy front is not positive news for both home buyers and developers.

“For the housing sector, this may not be a very positive news as end-users, who have been postponing their purchase decision on account of still high inflation and high interest rates, cannot expect any relief in the near future,” Dutt said.

The outlook for the sector remains cautious as persistent high inflation rates are keeping construction costs up, which are not expected to come down in the near future, Dutt added.

Expressing displeasure over RBI’s decision, M3M, Head-Finance Gaurav Jain said: “We expected some rate cuts from the first quarter review by RBI, however RBI kept the key rates unchanged.”

“We need to understand that the inflation today is not due to high demand, but supply constraints which lead to continuous increase in the input costs, including the cost of funds,” Jain added.

CHD Developers Managing Director Gaurav Mittal said the growth of the real estate sector would be fuelled only by a rate cut.

“We hope Reserve Bank will take cognisance of this fact and we will see a rate cut in the next policy,” Mittal added.

Friday, June 29, 2012

Pre launch offer lands Gurgaon builder in trouble

CHANDIGARH/ GURGAON: Advertising the pre-launch offer of residential flats before building plans were approved has landed a New Delhi-based Gurgaon colonizer in the soup, who is now facing the threat of losing his licence.

The director general (DG) of town and country planning (TCP), T C Gupta, on Friday turned down the application of Aurochem Buildprop Pvt Limited, the colonizer, for an additional license for group housing colony on 9.39 acres of land in Sector 112, Gurgaon.

In his orders issued on Friday afternoon, T C Gupta, the DG also informed about initiating the proceedings of cancellation of the main license of the colonizer.

The order accessed by TOI mentioned, “It is evident that you have indulged in malpractice which can’t be ignored by the department. Whereas, legal action is being taken with regard to the main licence, no additional licence can be granted since the legal status of the main license itself is clouded.”

Enquiries revealed that the action by department followed the advertisements issued by Earth Infrastructure Ltd, a company which announced the pre-launch offer of flats to be developed by Aurochem Buildprop, who was accorded the licence.

It is alleged that the Earth infrastructure released the advertisements much before the building plans were approved by the town and country planning department. According to official records, the colonizer was given a license to construct a group housing colony on the land measuring 10.318 acres of land in Sector 112.

While the process of approval of building plans of flats of approved colony was in progress, Earth Infrastructure Ltd released the advertisement of pre-launch offer. At the same time the colonizer applied for an additional license on the land measuring 9.39 acres.

“The advertisement of pre launch offer was released in the month of August and September 2011 whereas the building plans of the colony were approved in the month of December. Secondly, the advertisement did not have the necessary details like license number etc. Thirdly, the advertisement was issued by the company which had no records, including a request of even of transfer of licence from the licencee to Earth Infrastructure, hence this is a breach of trust,” T C Gupta said.

Meanwhile, the department has asked the local authorities to ascertain the details of bookings done by Earth Infrastructure limited or any other agency hired by colonizer for the sale of flats during the pre-launch offer.

Thursday, May 31, 2012

DLF debt still at a whopping Rs 22,725 cr

India’s largest realty firm DLF has reduced net debt by only Rs 33 crore in the fourth quarter of last fiscal, 2011-12, to a whopping Rs 22,725 crore and aims to cut it further from expected divestment of non-core assets up to Rs 4,000 crore in next six months.

According to a presentation by an analyst, DLF’s net debt stood at Rs 22,725 crore as on March 31, 2012 from Rs 22,758 crore at the end of third quarter of last fiscal.

It plans to reduce debt through “strengthen operational cash flows, enhance momentum on non-core divestments along with a moderation in land aggregation and capex”.

On non-core asset divestment, DLF said: “Potential value for further divestments in next six months stands at Rs 3,000-4,000 crore”.

DLF has raised about Rs 1,774 crore in last fiscal through divestments of non-core assets, including plots and IT parks. The divestments proceeds has reached Rs 4,844 crore till date.

The overall target of divestment of non-core assets of Rs 10,000 crore would be achieved in the medium term, it added.

“The company has also made significant progress in divestment initiative of non-core assets and expects closure in the near term,” DLF said, adding the company is looking to sell its hotel business Amanresorts, a prime plot in Mumbai and wind energy business.

As part of business strategy for this fiscal, DLF wants to conserve cash with moderate capex and land acquisition and protect margins through ‘cost escalation’ clauses.

It would “focus on high margin projects (Luxury/Plotted); moderate volumes in mid-income segment” and also concentrate on fresh launches with the improvement in the approval cycle.

Yesterday, DLF had reported a 39 per cent fall in its consolidated net profit at Rs 211.70 crore for the quarter ended March 31, 2012 on account of higher interest outgo. It had posted a profit of Rs 344.54 crore a year-ago period.

The revenue fell by four per cent to Rs 2,747 crore in the Q4 of 2011-12 fiscal from Rs 2,870 crore in the corresponding period of previous fiscal.

For the entire 2011-12 fiscal, the net profit fell by 27 per cent to Rs 1,200.82 crore from Rs 1,639.61 crore in the previous fiscal. The revenue rose marginally at Rs 10,224 crore in 2011-12 from Rs 10,144 crore in 2010-11 fiscal.

Tuesday, March 27, 2012

MCG to assert over private colonies

NEW DELHI/ GURGAON: The city’s municipal body took the initiative to take over the private colonies by seeking a status report from the urban local bodies. But the department of Town and Country Planning (DTCP) that gives licences to private developers revealed that not a single private developer in Gurgaon has applied for completion certificate for any of their projects. This has jeopardized the plan of their takeover by the civic body.

Obtaining a completion certificate is a pre-requisite for transfer of the areas to the municipal corporation. “Despite the government coming out with a piece of legislation that allows the developers to pay a one-time fee to get partial or total completion certificate for over a year, not a single developer has opted for this,” disclosed T C Gupta, director general of DTCP.

As per the norms, a civic body can take over colonies developed by private players or any government agency five years after they get their completion certificate. Once the transfer happens the municipal body takes over the maintenance of all such colonies.

Considering that developers were keen on keeping the maintenance with them despite several instances of residents dragging them to court, the state assembly in 2010 had passed the Haryana Development and Regulation of Urban Areas (Amendment) Act. The legislation has allowed the builders and colonizers to pay a one-time infrastructure augmentation charge to get full or partial completion certificates.

The measure was also meant to raise funds that would be used %by the local authorities to provide much-needed infrastructure facilities like roads and sewerage.

“The developers could have taken this opportunity to get the completion certificate. The legislation also allowed the government to levy infrastructure augmentation charges in lieu of the waiver of 15% cap on profit margin for developers,” Gupta said.

As per the norms set by the government, private builders were not allowed to make more than 15% profit under the earlier provisions of the Act, but the rule was hardly followed.

Officials said that the developers used to fudge the balance sheets to show their profits always remained under 15%. This happened since the market forces and conditions decide the property rates and the norms %set by the government are rarely adhered to.

Meanwhile, sources said that the private builders are not interested in handing over their colonies to the municipal corporation which %will end their perennial source of revenue. “They get a lot of revenue in the form of maintenance charges and don’t want to dry that source. There is also a section of residents which wants the present system to continue since it fears the service level might get worse if the MCG takes over,” said a senior government official.

Source: http://timesofindia.indiatimes.com/city/gurgaon/MCG-to-assert-over-private-colonies/articleshow/12434451.cms

Sunday, March 18, 2012

Sewree flat sold for Rs 5.25 cr

A residential apartment measuring approximately 1,500 square feet in Sewree was sold for 5.25 crore. This was one of the new developments which is amongst the premium developments in the area and is equipped with all modern amenities such as gymnasium, swimming pool, garden among many others.

The location is well connected and enjoys proximity to the office districts of Nariman Point and BKC. The social infrastructure of the area includes several education, healthcare and retail developments which have added to the attraction of the place.

New Delhi

In a recent transaction, a newly-built apartment in Vasant Vihar, admeasuring 2,200 square feet, was leased at a monthly rent of approximately 300,000. The apartment has 4 bedrooms and a terrace garden and is newly constructed with all modern amenities.

This prime South Delhi location has always been an established residential district which offers high-end developments and is preferred by expatriates and consulate members for its proximity to the office districts, international schools and established retail destinations.

Source: Cushman & Wakefield
Source: http://economictimes.indiatimes.com/markets/real-estate/news-/sewree-flat-sold-for-rs-5-25-cr/articleshow/11299483.cms

इंडस्ट्रियल जोन में बस सकते हैं घर

नई दिल्ली
दिल्ली में इंडस्ट्रियल प्लॉट में रेजिडेंशल यूज की इजाजत मिल सकती है। मास्टर प्लान 2021 का रिव्यू चल रहा है। डीडीए की मीटिंग में कई अहम सुझावों पर चर्चा की गई। दिल्ली में घरों की कमी पूरी करने के लिए इस सुझाव को अहम माना गया। उपराज्यपाल ने भी सुझाव को पसंद किया और उम्मीद की जा रही है कि मास्टर प्लान में बदलाव कर इंडस्ट्रियल प्लॉट में रेजिडेंशियल यूज करने का अधिकार दे दिया जाएगा।
मास्टर प्लान 2021 में कहा गया है कि दिल्ली में 1 लाख घरों की कमी है। अनुमान लगाया गया है कि 2021 तक 24 लाख अतिरिक्त घरों की जरूरत पड़ेगी। इसमें 40 पर्सेंट जरूरत दिल्ली के इलाकों के रीडिवेलपमेंट से पूरी हो सकती है। टारगेट पूरा करने के लिए सिर्फ रेजिडेंशल जोन में ही नहीं , बल्कि दूसरे जोन में भी रीडिवेलपमेंट की बात कही गई है। मास्टर प्लान में रेजिडेंशल एरिया की अधिसूचित रोड में कमर्शल इस्तेमाल की इजाजत दी है।
1996 में सुप्रीम कोर्ट के आदेश के बाद काफी इंडस्ट्रियल जमीन रीडिवेलपमेंट के लिए मुहैया हो गई क्योंकि कई बड़ी और भारी इंडस्ट्री बंद हो गई या दूसरी जगह शिफ्ट हो रही हैं। इस तरह की 2000 स्क्वायर मीटर से ज्यादा की एरिया है , जो चारों तरफ ग्रीन एरिया से घिरा है और रेजिडेंशल डिवेलपमेंट के लिए फिट हैं। सुझाव में कहा गया है कि इंडस्ट्रियल प्लॉट मंे रेजिडेंशल ग्रुप हाउसिंग डिवेलपमेंट के लिए इस्तेमाल होना चाहिए , जिसमें 15 पर्सेंट कमर्शल स्पेस हो सकता है।
मुंबई में भी ऐसे इंडस्ट्रियल इस्तेमाल के जोन को अलग कैटिगरी में रखा है जहां कमर्शल के साथ रेजिडेंशल इस्तेमाल की इजाजत है। दिल्ली में भी इसकी इजाजत मिलने से ग्रुप हाउसिंग ऐसे एरिया में बनेंगी , जो पहले से विकसित है। इन्हें खड़ा करने पर ज्यादा पैसा नहीं लगाया पड़ेगा। मास्टर प्लान में इंडस्ट्रियल यूज जोन में ओल्ड एज होम , हॉस्टल , नाइट शेल्टर की इजाजत है , जो नेचर से रेजिडेंशियल हैं।

Source: indianrealtynews

Union Budget 2012-13: Pranab Mukherjee ignores ground realty, say builders

Predicting an escalation in property prices, top players in the realty sector said they had been ignored by the finance minister.

Lalit Kumar Jain, chief of the Confederation of Real Estate Developers’ Association of India (CREDAI), said the announcement on external commercial borrowings (ECB) for affordable housing was a minor respite but still meaningless. Jain, who is also chairman and managing director of Kumar Urban Development Ltd, added, “We contribute 6.5% to the GDP and expected a big boost from the budget for affordable housing through special schemes, an interest subvention of 5-7 % for LIG (low income group) and EWS (economically weaker section) housing and promotion of rental housing through tax exemption.”

Jain pointed out that the interest subsidy on home loans was too low. The Budget has extended the scheme of interest subvention of 1% on housing loan up to Rs 15 lakh where the cost of the house does not exceed Rs 25 lakh for another year.

Gaurav Gupta, director, Omkar Realtors & Developers , lamented that the realty sector had got nothing to boost market and customer sentiments. “There are no indications of this sector being granted the status of an industry , which it much deserves . On the contrary, the increase in service tax will push up realty prices as the additional cost will be passed on to the buyers.”

Tata Housing MD and CEO Brotin Banerjee added, “Initiatives to make affordable housing available to a larger section of the society have only been met partially.”

There were some who welcomed the proposals. Sachin Sandhir, MD, RICS South Asia, felt it “exceeded expectations ” given the pressures on the fiscal situation.


Tuesday, February 28, 2012

Residential rentals continue to rise

There is bad news for those who live on rent assuming they save some money and tide over high interest rates cycles by not availing a home loan. A number of localities across cities have witnessed significant rental rate appreciation in 2011 due to rise in demand for rental accommodation, according to latest data available with property portal 99acres.com. And that is not all as the trend seems to be sustainable. “Residential rentals may keep on moving upwards. Initial trends coming in indicate that rentals may rise this year too,” says Vineet Singh, business head, 99acres.com.

However, commercial rentals have fallen in the same time frame. Rentals across premium office spaces have declined in some prominent markets, according to a report by property consultant Cushman and Wakefield.
Why moving up

According to industry estimates, developers are going slow on execution of real estate projects. As a result, there is a drop in supply of residential apartments in most prime markets. Therefore, new emerging residential areas are still not able to meet the huge housing demand. “The rental rates have moved up significantly during 2011 because of two key reasons. First, the expected supply of residential properties announced in early 2009 has not been able to reach the market yet due to delay in construction. According to estimates, around 500,000 units in key markets that were to come in the market by end of 2011 are delayed by another year. Second, there has been an increase in lateral hiring by corporates. With job scenario getting better for most in the country, people have more to spend,” says Singh.

Also as new emerging areas lack the necessary infrastructure, they cannot be used for living.

What it means for you

While renting may be cheaper than buying, owning a property at any stage makes sense. “You should not time your investment with the market while buying a property. If you can afford to buy and bear your monthly expenses, rent along with the equated monthly instalments, you should enter the market any time,” says Ganesh Vasudevan, vice-president and business head, IndiaProperty.com, a Chennai-based property portal.

“While residential rental yield in India is around 2-3%, gains from capital value appreciation is much more than the yield on that property. This gain usually beats the rate of inflation. So it makes sense to buy,” added Vasudevan.

Also, with indications of interest rates softening and no correction in property prices, it is time you think of investing in a property.

Source: http://www.livemint.com/2012/02/26203312/Residential-rentals-continue-t.html

Tuesday, January 31, 2012

Flats crumbling: DDA to pay up for upkeep

10L One-Time Payment For Maintenance

New Delhi: For years poor maintenance of DDA group housing societies has been a sore point with flat owners.Finally,there is a silver lining in the clouds.

DDA has decided to pay up for maintenance and repair the common areas in these societies.Now,each DDA group housing society or colony comprising 100 or more houses will get Rs 10 lakh each as one-time payment for upkeep.

The decision was taken on the sidelines of the 2012-13 budget meeting on Monday.The land owning agency has constructed more than 100,000 houses in the last few decades.

Sources say a large number of houses,which were constructed around 30 years back,are in urgent need of repair.

In many old DDA colonies boundary walls,staircases,shafts for pipes are broken.These colonies are in a very bad shape.It has been decided to give Rs 10 lakh per 100 dwelling units for repair and maintenance of the colonies to RWAs,which are registered with us, said Jitender Kochar,member,DDA.

A DDA official said,The request for repair from RWA will be examined by DDA officials.The engineering department will prepare the estimates for repair and maintenance based on which the money will be released.

Sources say low income group (LIG) and Janata flats are in a dilapidated condition.The middle income group (MIG) and high income group (HIG) housing units are still in better shape as individual allottees are maintaining them.However,most of the flats need urgent repair, said a DDA official.

Following directions from Lieutenant Governor Tejendra Khanna,the land owning agency is also working on a proposal for societies or colonies,which require extensive repair work.

As per the plan,DDA will pay 50% of the total repair cost while the rest will be paid by RWAs.

There are several societies which need a facelift.And the expenditure on them is likely to run into crores.In such cases,DDA will pay just 50% of the total cost incurred on repair and maintenance.This is mainly for old group housing societies, said Kochar.
The DDA also approved its budget for 2012-13 on Monday.

The land-owning agency is optimistic about getting revenue worth Rs 7888.26 crore in 2012-13 from disposal of land,houses and shops.The agency also plans to spend a large chunk of its earnings on construction of housing societies.

It has allocated Rs 1,277 crore for the construction of houses and shops in Dwarka,Narela and Rohini in the next financial year.

It also plans to construct community halls and sports facilities in various part of the city for which Rs 39.90 crore and Rs 97.31 crore has been allocated respectively.
With an aim to provide healthy and better environment to Delhiites,the agency has allocated Rs 638 crore for the development of greens in the city.

Meanwhile,DDA has decided to refund Rs 1.05 lakh to 212 people who had applied for 2010 house allotment scheme.

Their initial deposit while applying for the draw was forfeited by DDA as they had provided wrong information in their application forms.

Earlier,DDA was not planning to return the money,but now it has been decided that DDA will deduct Rs 20,000 and return the rest of the money to 212 applicants, Kochar said.


1277.55 cr allocated for construction of houses and shops

39 cr allocated for construction of 13 community halls

638.44 cr for maintenance of greens.Special focus on development of Astha Kunj,Sat Pula Lake complex and Yamuna River Front

97.31 cr for sports complexes

91.31 cr allocated for covering drains between Lajpat Nagar and Defence Colony and construction of clover leaves,underpass slip roads at Sarita Vihar

Source: http://timesofindia.indiatimes.com/city/delhi/Flats-crumbling-DDA-to-pay-up-for-upkeep/articleshow/11694391.cms

View my complete Profile

Contact Us

Real Estate
Verification No.:*
contact form faq
Year 2009
May 2009

pril 2009

March 2009

February 2009 Year 2008
Page copy protected against web site content infringement by Copyscape