Noida Authority Board proposes to revise its building byelaws

NOIDA: Following widespread farmers' protest after the Noida Authority Board proposed to revise its building byelaws to include abadi land falling in villages, Rama Raman, Chairperson and CEO of Noida said that they had withdrawn the proposal. Raman said that the proposal would only be implemented after building a consensus of the villagers.

Speaking to TOI, Raman said that his team of officials would soon hold a meeting of village heads to educate them on the necessity of governing building activities for the sake of safety and security of the rural population. Rampant unauthorized constructions are being carried out on village abadi areas and threat of widespread calamity if a natural disaster strikes was another reason for implementing the byelaws. "However, we want the villagers to come forward with their misgivings, suggestions and objections regarding the implementation of the byelaws," said Raman. "We want them to understand that the move is in their own interest. We will implement the byelaws, which are ready to incorporate, only after we receive a consensus," he added.

Raman further said that their objective was not to harass the villagers but to enhance their rural areas through planned development on the lines of residential sectors in the city. "We are also undertaking an exercise to map the rural areas. A pilot project wherein 81 villages are being mapped, is currently underway," Raman explained. "Once in place, each house in the village will be mapped and allotted a particular number using aerial imagery captured by drones. The project is expected to be completed by April next year," Raman said.

According to officials, the Noida Authority had in October last year drawn out a draft of revised byelaws to include village areas. The move had come following reports of a large-scale illegal occupation on such land besides a government order from the Uttar Pradesh chief secretary received on October 20, 2014 restricting all district panchayats from clearing any building layout plans.

Following the decision of the Noida Board earlier this month of making the byelaws optional for villagers, locals from nearly 81 villages had gathered to lodge their protest against the decision. Accusing the Noida Authority of adopting arm-twisting methods, hundreds of villagers had threatened to intensify their stir against the building regulation norms.

SOURCE: ETRealty.com

SHRI GROUP RECEIVES LIFETIME ACHIEVEMENT AWARD FOR DEVELOPMENT OF MATHURA

Lucknow: In an exclusive event The Hindustan Achievers Award 2015, organized at Lucknow, to honour the real estate developers for their exceptional contribution to real estate in the state of Uttar Pradesh, Shri Group, a very renowned name in the realty market of Mathura & Vrindavan received the Lifetime Achievement Award for it’s extraordinary contribution towards the development of Mathura. The event was attended by a huge gathering of people associated with the realty sector. The awards were presented by Shri Ram Naik, Honourable Governor of Uttar Pradesh, who was also the chief guest for the event. 

Lifetime Achievement Award is awarded for exemplary contribution in a sector which not only defines the achievements the winner has had but also the path that they have set for others to follow. Shri Group is one such developer and a very established name in the realty markets of UP for its residential projects, townships and resorts predominantly in the regions of Mathura and Vrindavan. These projects carry state of the art infrastructure and have been planned keeping mind all aspects of living. This was indeed an initiative which sets them apart from others and made them torch bearers for the sector which is the reason for them winning the award.

Ecstatic over winning this award, Mr. Sudeep Agarwal, MD, Shri Group said “It is a great honour to have been presented with a Lifetime Achievement Award and we are truly obliged towards the jury who considered us for this. Somewhere we feel that we deserve to lift this award as it takes a lot of time, energy, planning, execution and funds to deliver what we have delivered in these regions for almost two decades. We have been working very hard towards adding value to structures and this award means that our efforts have been both appreciated and recognized which will surely encourage us to keep moving forward.”

About the Company:

A journey of 84 years through years of building Prosperity for All started as a commodity house in Mathura in 1931. The man behind the vision "Mathura Bane Metro" took it unto himself to radiate the city of divine Krishna with his hard work and dedication. And he lay the foundation of a secure future for the family of SHRI Group, the residents of Mathura, Today known far and beyond, the Group emerged to venture into city of Greater Noida West with a master designed by hafeez Contractor and yet again the melodious boom is set to make a mark with quality construction and trust of customers achieved over years.

RBI RATE REDUCTION AHEAD OF FESTIVE SEASON BRINGS CHEER IN THE SECTOR

      In a much anticipated move by RBI considering the inflation entering comfort zone, the repo rate has been slashed by 50 basis points. The new repo rate now stands at 6.75 percent from the previous 7.25 percent. Reverse repo rate is now at 5.75 percent; Cash Reserve Ratio (CRR) at 4 percent and Statutory Liquidity Ratio (SLR) at 21.5 percent respectively, remains unchanged. Since the first bi-monthly RBI policy review back in January, the apex body has reduced the key rate by 125 basis points or 1.25 percent, bringing it down to 6.75 percent from 8 percent. What this suggests is that, banks will now be under pressure to lower their lending rates, the benefit of which will be directly passed on to the customers via reduced EMIs. 

“The target of 6 percent inflation by January 2016 is likely to be achieved considering the major conditions that have been met since the last policy review in August. This move was thus pretty much on the cards looking at the economic recovery witnessed over the last couple of months. With various key banks in India already on a reducing rate spree, a rate reduction by RBI here will open the gates for further rate reduction by banks, thus assisting the customers with less pressure on their pockets”, elucidates Mr. Kushagr Ansal, Director, Ansal Housing. Adding to the fact, Mr. Ashok Gupta, CMD, Ajnara India Ltd. avers “RBI has been extremely pro-active in terms of bringing relief to the economy and pushing the banks forward to provide final benefit directly to borrowers through reduced EMIs. Real estate sector in particular was in dire need of repo rate reduction as we are standing right on the verge of final festive season of the year. Sentiments will now become better as customers will be expecting banks to lower their rates that will be profitable for them prior to a big purchase such as, property”.

Perfect reasons to slash rate:

With monsoon season being highly unstable, weakening industrial production and investment activities, retail and food inflation kept under check, this decision has come out as a pro-active supply side management one. “Despite the monsoon deficiency and contained food inflation pressure through resolute government actions by managing supply, the disinflation has been quite broad-based and inflation barring food and fuel has also come off its peak in June. Since the beginning of this calendar year, RBI had assured of a rate cut cycle this year which it has followed owning to the economic recovery and fair chances of meeting the target inflation by January next year. This move is greatly welcomed especially for this sector considering the rising inventory levels which will now see a momentum if banks reduce the lending rates, something that is quite evident”, explains Mr. Mukesh Khurana, MD, Rudra Buildwell.

"The residual question now becomes; the extent of transmission of these cuts. Not many banks have been following the rate cut cycle, the loss of which has been pushed onto the customers. On the flipside, major banks in India such as SBI, ICICI, HDFC and few others have been keeping their lending rate cycle in sync with the RBI’s repo rate cycle. This has provided relief to a major chunk of buyers taking loans for property. Also, banks with high liquidity can easily afford to decrease their lending rates without touching the deposit rates but banks with lesser liquidity are first forced to decrease the deposit rate which on the other hand increases their liquidity then can they bear the drop in the lending rates" adds Mr. Vikas Bhasin, MD, Saya Homes.

A drop in the deposit rate directly leads to lesser returns on investments such as fixed deposits, etc. Thus, major players of the banking industry are able to satisfy the complete demand whereas other banks can either provide higher returns on investments or charge less on the amount lent to the public. “Several banks made reduction in lending rates earlier this month and many held back as well. There exists a direct relation between reduction in lending rates by banks and an increase in demand for property. It is then just a matter of proper timing by the banks while adjusting the rates. Few days from now, the festive season of the Hindu calendar is about to commence where massive demand is observed every year, and this is the time when potential customers plan and allocate their funds for the big purchase. Thus, a fall in lending rates today will promote the sentiments in the market and allow people to strategize their upcoming purchase. RBI has played its part well today and now the ball is in banks court”, enlightens Mr. Vivek Gupta, Director, Vardhman Estates & Developers (P) Ltd.

Road to recovery all clear:

For a long while now, real estate sector has been reeling under heavy pressure of rising prices and unsold inventory across all major cities. The bigger problem is that these cities are the perfect catchment areas for the developers due to the presence of ready infrastructure and civic amenities for the future residents. Although, each year we observe heavy footfall at project sites of these regions during the festival season and thus, a slow real estate sector gets the much needed push each year towards the end of the calendar year. “We were pretty sure of a rate cut in this bi-monthly policy of RBI as the next two months are full of festivals and this time around sentiments are usually flowing well. A reduced lending rate ahead of festival season will make the property prices look lighter to the customers as monthly instalments will come down. This will enhance the purchasing power of the customers thereby allowing them even go ahead with a better purchase. For instance, due to reduced EMIs, one will be able to afford a bigger unit or a much lavish one. Hence, a much awaited road towards the recovery of this sector is looking fairly visible”, states Mr. Ankit Aggarwal, CMD, Devika Group.

Banks following the legacy:

For the last few months, banks have been on a rate reduction spree due to continuous nods by the RBI and frequent repo rate cuts as well. In the beginning of this month, HDFC had reduced its lending rate by 35 basis points bringing it down to 9.35 percent, standing shoulder-to-shoulder with ICICI and SBI. Although, SBI has announced a further rate reduction by 40 basis points, bringing its lending rate to the lowest in the industry at 9.30 percent which will be effective from 5th October, 2015. Reduced banking rates will have a positive impact on the demand for the sector, and with final festive season of the year about to commence; it will be a win-win situation for all. “The reduction in lending rates by banks has been coming at the right time as we are inching closer towards the final festive season of the year where most property purchasing takes place. It was also imperative on the banks behalf that these rates were reduced as frequent nods had already come from the RBI chief and this time also, a good 50 basis points have been reduced. Still there is ample room for lending rate reduction by banks as we see SBI has already announced a 40 basis points reduction. The platform is now all set for the realty sector to deliver its goods in the upcoming festival season in India”, concludes Mr. Deepak Kapoor, President-CREDAI Western U.P. & Director, Gulshan Homz.

States agree to comply with environmental guidelines for urban construction projects

NEW DELHI: State governments have broadly agreed to comply with the proposed environmental guidelines for construction projects in urban areas.

This broad consensus on the subject emerged at a consultative workshop on 'Climate Change Mitigation in Urban Sector' organized by the ministry of urban development with all the stakeholders in New Delhi on Monday.

The ministry of environment, forests and climate change made a detailed presentation on 'Environmental Guidelines for Buildings' containing about 30 parameters to be complied with for efficient management of energy, water, land, solid waste, air quality and noise levels during pre-construction, construction and post construction period.

The workshop has been organized to sensitize states and other stakeholders on the need for green construction in view of the fact that the building sector consumes 40% of electricity generated in the country, 30% of raw materials and 20% each of water and land resources besides generating 30% of solid waste and 20% of all effluents.

The stakeholders also came to a broad consensus on many other aspects. They agreed that at least 1% of connected applied load of power shall be met from renewable energy sources such as photovoltaic cells or wind mills or hybrid mode. All common area lighting must be of LED/solar lights and energy meters must be installed to measure over all energy consumption; regular energy audit shall be ensured through energy auditors certified by the Bureau of Energy Efficiency; one tree shall be planted for every 100 square metre of land area. When trees are to be cut or transplanted, compensatory plantation of three trees for every tree cut to be ensured; Rain water harvesting plan to be designed providing one recharge bore for every 3,000 square metres of land area. A minimum of 30% of area open to sky (unbuilt) to be left unpaved to facilitate ground water recharge and reduce heat island effect. Area covered with grass will be treated as unpaved area.

States also agreed that Sewage Treatment Plants (STP) would be installed to ensure treatment of 100% solid waste generated and adopting decentralized STPs for larger projects; natural flow of storm water channels can't be altered without the approval of competent authority and entry and exit points of such channels must be retained; organic waste composter/vermiculture pit with a minimum capacity of 0.3 kg/tenement/day to be installed; seperate wet and dry bins to be provided at the ground level facilitating segregation of waste and all non-biodegradable waste would be handed over to authorized recyclers; fertile top soil must be retained to the maximum and for reuse on the site, since it takes about 500 years for formation of one inch of fertile top soil; and possession of buildings to be handed over only after drainage and water connections are in place and No Objection Certification obtained from the competent authority.

Durga Shankar Misra, additional secretary (urban development) urged states to be pro-active in ensuring compliance with green construction norms in view of the commitment of the central government to mitigate emission of greenhouse gases responsible for climate change.

SOURCE: THE ECONOMIC TIMES

EDUCATIONAL PUSH FOR THE POOR BY GULSHAN HOMZ

Delhi/NCR: As a part of their flagship CSR initiative, NCR realty major, Gulshan Homz has gone ahead and adopted a primary school in Chak Saberi Village of Visrakh, Gautam Buddh Nagar. This comes forward as a great initiative for their ongoing efforts to build a better society along with the options for a better living. GulshanHomz is already involved with a lot many CSR initiatives which set them apart from other corporate. 

The adopted P S Chak Saberi School, was a primary school established in the year 1997 and is a Hindi medium co-ed school. It runs from 1st till 5th standards and houses 8 classrooms. The faculty comprises a total of 6 teachers; 2 males and 4 females. The present situation of the school is between ridges; which is highlighted by the fact that the school has an almost empty library and also a playground but then again, not ample facilities for the students to utilize for their overall mental and physical development. The faculty members are provided residential facility in the premises itself. There are no running meal facilities for children in the school.

Gulshan Homz would be taking immediate steps setting up an activity resource centre which shall provide books, art and craft materials and colours along with sports equipment for the school children. They also plan on making provisions for safe drinking water for everyone attending. The school’s infrastructure also needs immediate attention, for which Gulshan Homz would be actively co-ordinating with local education authorities and try to achieve results fast. “Every child has the right to quality education and sports equally. Helping them have access to these will be a cherished step taken by us. Primary schools are the budding grounds for future and taking up such initiatives will definitely help us give back to the society what we can. We would love to keep building on this initiative and hope others to join on the path ahead”, said Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz. His thought clearly reiterates the commitment of Gulshan Homz to fulfil its responsibilities as a good corporate entity.

About the company:

Gulshan Homz is a leading real estate builder in Delhi NCR. Started with the core value of customer centrism in early 1990s, this company strives for excellence in their work. This they achieve by adhering faithfully to the highest ethical and technical standards of profession and business. They have always given top priority to customer satisfaction through relentless efforts to provide better services.  Customer value has been built through meeting delivery timelines.

REALTY SECTOR GETS ITS FIRST EVER PEOPLE’S CHOICE AWARD

New Delhi: In an exclusive first of its kind real estate awards, ICCPL, one of the leading PR companies of India launched, ‘India International Property Awards’-2015. In the esteemed presence of Mr. Sudhanshu Mittal, who is a prominent face in Bhartiya Janta Paty (BJP), the award night took place. The Red Carpet cum Paparazzi event was organized at The Lalit Hotel, New Delhi amongst the presence of stalwarts of Indian Real Estate who on the day, were not looking less than celebrities.

In every sector or industry, it is the people who play key role in brand building of the organisations.

Every individual needs a roof over their head and voting for their satisfaction derived from this roof was something which was still untapped in the realty sector. India International Property Awards (IIPA) brought this idea to the forefront and made sure that everyone votes for the deserving brands. This also meant that the transparency and credibility of the awards would be unquestionable. Also with 7 participating regions, namely Delhi/NCR, Chandigarh, Lucknow, Pune, Mumbai, Bengaluru and Kolkata  and an enthralling number of 68,55,360 votes recorded, 53 winners were selected by the ‘People of India’. IIPA 2015 was held to honour and felicitate the success and achievements of the flag - bearers of Indian Real Estate Sector that included several award categories such as Projects, Debutants, Developers, Professionals, Consultants and few others. This was followed with a thanksgiving to the sponsors, partners and all the associated parties, as the event concluded with a royal dinner and cocktail.

Speaking on the successful launch of the event, Mr. Dushyant Sinha, Founder of IIPA said “Real estate sector has always been seen from the corner of the eyes still searching for its true identity even after being one of a prime contributor towards India’s GDP and employment. IIPA as a platform was designed to fulfil the dreams of the people of India who wanted to choose the best amongst the rest, thereby assisting everyone else to identify true leaders of this sector. Still, this dream could not have been a reality without the tireless efforts and dedication of the entire team behind IIPA. A special word of thanks to the sponsors and partners of the event without whom this night would have gone incomplete. Finally, we would like to congratulate the winners and thank the people who voted and made sure the best won.”

About IIPA:

India International Property Awards (IIPA) is a set of awards in the honour of those organizations and individuals who have done excellent and high quality work in the real estate sector. IIPA would help to recognize all the eminent players who have positively contributed towards the growth of realty sector. Awards would be segregated under various categories such as Projects, Debutants, Developers, Professionals, Consultants, etc.; winners out of these will be decided by the public.

Noida: Now, building bylaws to govern abadi land too

The Noida Authority board has approved a decision to bring abadi land in villages under the purview of its building bylaws. The authority had decided to do so in the wake of the Nepal earthquake and subsequent devastation.

The Greater Noida Authority already governs all construction being carried out in village abadi area since 2011.

However, hundreds of villagers are opposed to the move. On September 24, residents from nearly 81 villages gathered to lodge their protest against the decision. Accusing the Noida Authority of adopting arm-twisting methods, nearly 600 villagers threatened to intensify their stir against the building regulation norms.

Talking to TOI, farmer leader Joginder Awana said they have been living in Noida for several decades and the Noida Authority could not suddenly implement building regulations. "It is unconstitutional and without our consent," Awana said. "Instead of developing the rural areas of Noida, the Authority is trying to browbeat us," he said. "We will not follow the norms," he added.

The residents further said they would take to the streets but would not agree to the regulations. "In the next two months we will hold meetings in different villages and will hold a maha-panchayat eventually to chart our next course of action," a villager said.

Meanwhile, Noida Authority officials said they would hold a meeting of village heads to educate them on the necessity of governing building activities for the sake of safety and security of the rural population. The Authority had in October last year drawn up a draft of revised bylaws to include village areas.

The move had come following reports of large-scale illegal occupation on such land besides a government order from the Uttar Pradesh chief secretary received on October 20, 2014, restricting all district panchayats from clearing any building layout plans.

According to officials, the bylaws - when implemented - will define permissible ground coverage, percentage of commercial activity, parking spaces, height of boundary wall, fire safety norms in keeping with the National Building Code and number of floors.

These will be according to the plot size and in tune with Noida's prevailing norms, officials said. The district panchayats have been allowing construction in the abadi areas, when they never had the right to pass layout plans, officials said. Therefore, all such construction is illegal, they added.

SOURCE: magicbricks.com

Noida slashes land conversion rate to 10%

More than a year after the UP government had issued a gazette notification approving mixed land use policy in the city, the Noida Authority on September 18 reduced the conversion rate from 25% to 10% on popular demand and on the lines of a similar policy being followed in Delhi.

Till now, allottees owning residential and industrial property could convert it into mixed land use by paying an 'impact fee' to the Authority, which is 25% of the cost difference between the prevailing residential or industrial sector rate and the reserve price of the commercial rate of the area where the property is located.

However, the Noida Authority board has now approved the reduction in the conversion fee to 10%. "The same formula will be used for conversion to mixed land use for both residential and industrial properties. But the impact fee will have to be paid in lump sum," said Rama Raman, chairman of Noida Authority. Electric and water charges will also be applicable as per commercial rates, officials said.

Raman said the conditions of the rest of the existing policy remain unchanged. As per the policy, the amended building regulation of Noida envisages mixed land use permitting commercial activity in residential and industrial plots situated on 24-metre-wide roads. While guest houses and banks will be allowed on a residential plot, auto showrooms, art galleries and museum will be permitted on industrial plots.

Mixed land use is currently allowed on 25% of permissible FAR on the ground floor of industrial plots. Guest house and banks are permitted on all floors up to permissible FAR limit on residential plots. The policy also allows certain support facilities to allottees after conversion to mixed land use as per prevailing building and zone regulations of Noida's Master Plan-2031.

For industrial plots these include office, bank, showroom for display/sale of industrial goods manufactured in the unit, gym, health club, creche, day-care centre. Internet cafe, dispensary, and taxi and auto rickshaw stand.

Support activities for residential plots include office, canteen, personal service shop, bank, ATM, creche, health centre and dispensary. Allottees will have to provide parking provisions within the premises as per provisions of Noida’s building regulations.

Source: Magicbricks