Uttar Pradesh website on RERA to be ready by end of July

The official website of Uttar Pradesh Rera, where the builders would be able to register or declare their projects as Rera compliant, is expected to be ready by the end of July.Till such time, builders willing to declare their projects Rera compliant would have to do it with hard copies of documents. The documents could be submitted with the interim Rera or the housing secretary of the government of Uttar Pradesh in Lucknow.According to Manoj Gaur, president, CREDAI - NCR, the process to go online has started and is only a matter of time. "Rera registration is nothing but a declaration of compliances with all the norms set by Real Estate (Regulation and Development) Act, 2016. So, only when a builder violates the agreed norms of Rera, does the prevailing law come into play. At the moment, the drill is about getting registered," Gaur said.Meanwhile, buyers who have been pushing for Fight for Rera, have tried to take up their issue with MLA Pankaj Singh and Union minister Dr Mahesh Sharma. "Buyers have taken their pleas to both Singh and Sharma and they have reassured that whatever was promised to the buyers would be met with eventually as soon the regulator is selected," Abhishek Kumar, president, Nefowa, said"Rera is already in play and the implementation process is on its last leg. There's no reason for buyers to get impatient," Manoj Gaur said.

Source-ET Realty 

Uttar Pradesh property: Yogi Adityanath government yet to notify RERA rules

The deadline for rolling out the Real Estate Regulation Act (RERA) is set to expire on July 30, but the country’s largest state, Uttar Pradesh, is nowhere near implementing it. The Yogi Adityanath government is yet to notify the rules, form a new authority, select its chairman and members, or even put the infrastructure in place. The previous Akhilesh Yadav government had drafted the rules of RERA and also notified them in October last year. But there was a lot of controversy over it and it was said the then Samajwadi Party government had diluted the definition of ‘ongoing project’ to keep a majority of projects in cities such as Noida, Greater Noida and Ghaziabad out of the purview of the real estate regulator.

After the new BJP government came to power in the state, it started the process of redrafting the rules afresh to protect interests of both the home-buyers and the builders. Speaking to FE on condition of anonymity, an official on the drafting panel said it has already submitted the revised rules to the government. “The rules will be cleared by a committee set up by the government for this, after which it would be cleared by the state Cabinet,” he said, adding that the applications for the chairman and members for RERA have also been forwarded to the selection committee. “The ball is now in the government’s court,” he said.

It may be mentioned that under the RERA Act, all state governments were given three months’ time to put all the necessary infrastructure and delivery mechanism in place to implement the law, including forming a new authority, appointing a chairman for it along with three members, opening a separate bank account for RERA to enable builders and developers to deposit charges and fee along with their registration papers , alongwith a functional website for project and agent registration.

Speaking on condition of anonymity, yet another official of the housing department conceded the fact that UP is unlikely to make it within the deadline. “Despite the fact that new rules have been re-drafted and applications for the appointment of chairman and members have been sent for vetting to the selection committee, we are nowhere near to getting RERA in place within the stipulated time as there is still a lot of work remaining and it is taking a very long time to get anything cleared, especially so as the UP assembly is in the midst of the Budget session. We had already sent a letter to the finance department for permission to open the bank account but there has been no response yet. Obviously, the state’s budget is a priority. Once the session ends on July 28, we hope things to move faster,” he said.

As per RERA Act, till the time a new chairman is selected, the principle secretary, housing has been asked to discharge the duties of RERA. But in the absence of rules and other infrastructure and delivery mechanism, it would be wishful to expect him to shoulder the responsibility with any seriousness.

NEW GURGAON RIDING HIGH ON INFRASTRUCTURAL ADVANCEMENTS

Catalysed by the availability of affordable homes, superior connectivity, great advancements in infrastructural developments and what all has been planned in terms of future growth prospects; New Gurgaon has off late emerged as a spirited residential and commercial hub in the National Capital Region. New Gurgaon has been immaculately planned and it’s two main clusters include Sectors 102 – 113 along the to be operational Dwarka Expressway and Sectors 76 – 95 & 95A. The region has seen keen interest from top developers such as DLF, Vatika, Ansal Housing, etc. and for that matter, even North India’s leading affordable housing developer Signature Global.

Commenting on how New Gurgaon is developing into a state of the art modern micro pocket, Avneesh Sood, Director, Eros Group says, “The two regions are emerging well into micro pockets and have been identified as budding strips for residential projects in Gurgaon, along the National Highway 8. The catchment area of these pockets extends from the sectors immediate after the Kherki Daula toll plaza and extending up to Manesar. Accessibility and good existing connectivity has also made this region more visible to the masses.”

New Gurgaon scores very high on connectivity front with direct access to NH 8, KMP Expressway and the Dwarka Expressway. With rail and air connectivity in close vicinity, it only adds more feathers to the cap and an ISBT has already been proposed close by to this micro pocket will only provide extra impetus to it’s growth quotient. Putting more weight on it, Pradeep Aggarwal, Co – Founder & Chairman, Signature Global says, “For the development of a region, infrastructure and connectivity go hand-in-hand and are of utmost significance. Without either one of them, the region can only witness growth at snail’s pace which in present time, won’t be considered suitable for development and returns. Projects like DMIC and Gurgaon Manesar Urban Complex give this region an edge over the others which is solely the reason why the workforce of Manesar and Gurgaon are eyeing the new developing sectors owing to the availability of affordably priced homes.”

In terms of other infrastructural developments, New Gurgaon has still a long way to go by the standards of what has been planned for this region. Social infrastructure is almost absent if one talks as of today but with considerably progress on physical infrastructure, social infrastructure will also catch up pace. However, from an investment point of view, New Gurgaon has all the attributes which makes it a preferred destination for better real estate returns. Explaining further on this, Rakesh Yadav, Chairman, Antriksh India Group says, “The pressure on the existing infrastructure is increasing day by day and newer areas need to be developed on priority. New Gurgaon is the outcome of one such decision but to help the cause further, these upcoming regions will have to well supported with socio – physical infrastructure enabling them to meet the standards of the millennium city. One of the key factors attracting buyers towards the area is its connectivity with Delhi on one side and Neemrana on the other via NH 8.”

Rental income beyond Rs 20 lakh to attract GST

Rental income from residential property has been exempt from GST but any earning over Rs 20 lakh annually from renting or leasing for commercial purposes would attract the levy.

Revenue Secretary Hasmukh Adhia said that if the house property is rent out for shop or office purpose, no Goods and Service Tax (GST) will be levied up to Rs 20 lakh.

"Rental income received from the residential house is exempt. But if you have given your unit to commercial enterprise, then it is taxable if you are getting more than Rs 20 lakh as rent," Adhia said at the GST Master Class.

The taxpayer earning more than the exempted threshold will have to register with the GST Network and pay taxes.

GSTN Chief Executive Prakash Kumar said that as many as 69.32 lakh registered excise, service tax and VAT payers have migrated to the GSTN portal. There are over 80 lakh such assessees in the earlier indirect taxation regime.

Out of the 69.32 lakh, as many as 38.51 lakh have completed the entire registration process and registration certificate is being issued to them.

The remaining 30.8 lakh taxpayers are being sent SMS and emails by GSTN so that they complete the registration process by giving the details of the business like main place of business, additional place of business, promoters details.

Besides, over 4.5 lakh new assessees have registered on the GSTN portal since June 25.

Adhia further said that the facility to amend the details of businesses provided to the GSTN portal at the time of registration will open on July 17. Also, registration for GST practioners will open on the same day.

Source: The Times of India, Delhi/NCR

Sick PSUs’ land to be used for low-cost housing

In a fillip to its flagship Housing-For-All programme, the Modi government has identified vast tracts of land in eight cities belonging to sick public sector undertakings (PSUs) to be monetised or leased for low cost houses for the poor. These cities include Gurgaon, Hyderabad, Pune and Ranchi.
Working on PMO directives, the ministry of housing and urban affairs has finalised a public private partnership model to provide affordable housing. A beginning would be made with land owned by HMT Bearings (Hyderabad 14.48 acre), Hindustan Antibiotics (Pune 62 acre), Heavy EngineeringCorporation (Ranchi 60 acre) and Indian Drugs and Pharmaceuticals (Gurgaon 10-15 acre).
“The biggest problem that the programme has been facing is the paucity of land. In many states, the beneficiaries have been identified but land remains an issue,” said a senior official.
A four-member committee constituted in May has finalised a working model. Land will be identified and then the PSU would either sell it or lease it out to a private partner, who would build low cost houses.
Private developers would be able to bid for the project and would be required to design the product mix and construct all the dwelling units. The committee has favored a cross-subsidy model for the private developer.
This would mean that the private developer would be given either a tract of land in another part of the city where it would be allowed to build high-end flats and sell them at a premium with a pre-condition of building low-cost housing in the identified PSU land.
Sources indicated that the two types of houses – low cost and high-end – could also be built on the same tract of land depending on the size.
Entire project cost inclusive of construction cost, taxes, and statutory levies would be borne by the developer. Infrastructure facilities and open spaces to be mandatorily provided have been identified. The developer would maintain the houses till they are allocated.
Sources said the National Buildings Construction Corporation (NBCC) has been tasked with identification of sick PSU land and framing a model memorandum of understanding and other contracts.
State governments would facilitate affordable housing projects through single window clearances and fast track approvals, waivers and reductions wherever possible.

Source- ETRealty

10 lakh houses to be constructed for the homeless in UP by 2019: Yogi

Charging the previous government of insensitivity towards the homeless, Uttar Pradesh Chief Minister Yogi Adityanath said today that ten lakh houses will be constructed in the state by 2019 for them.

"Prime Minister Narendra Modi had promised homes to the homeless but due to the insensitivity of the previous government the people of the state could not benefit from the scheme," Adityanath said at a programme to distribute letters to 568 beneficiaries of Pradhan Mantri Avas Yojna here.

The BJP government has decided to provide houses to ten lakh people till 2019 and 57,000 homeless people in Gorakhpur division will be provided a roof over their head this year,' he said.

Warning middlemen in the implementation of MNREGA, the chief minister said that beneficiaries can get work for 90 days and stern action will be taken in case of complaints in this regard.

Earlier, Adityanath met the family of martyr Saheb Shukla who lost his life in Kashmir valley last month at their native Kaniel village and handed over a cheque of Rs five lakh to them.

Inaugurating the 'school chalo abhiyan' in the primary school of the village, he also distributed school dresses and bags.

Source- ETRealty

Former chief secretary Rahul Bhatnagar is new head of GNIDA

GREATER NOIDA: Rahul Bhatnagar, former chief secretary of Uttar Pradesh, took charge as chairperson of the Greater Noida Industrial Development Authority (GNIDA) on Thursday. He said his focus would be on understanding the area in totality and to make a strategy for its holistic development.

When asked about his priorities, Bhatnagar said that though it was too early for him to comment, his emphasis would be on devising a transparent working environment. “I need to understand the problems and issues related to Greater Noida in detail before I work out my priorities. However, having viewed a presentation by a team of GNIDA officials, I believe the current burning issue is the builder-homebuyer impasse. The issues being faced by hundreds of innocent homebuyers will be resolved at the earliest, as per the directions of the chief minister,” he said.

“My aim will also be to provide entrepreneurs a conducive environment for setting up industry and for ease of doing business. I will motivate people to invest in the area, so as to promote the recently announced UP industrial policy. Projects like the two government hospitals in Greater Noida, Gautam Buddha University and Greater Noida stadium will be studied, and strategies devised for their optimum use. I will also propose that these facilities be adopted by the state government,” he said.

On being informed about several leaseback irregularities involving farmers and GNIDA officials, Bhatnagar said he would have the issue examined in detail and see that the guilty were brought to book. Bhatnagar was appointed chief secretary in September 2016 and till now had additional charge of principal resident commissioner UP, chairman PICUP, and infrastructure and industrial development commissioner. Now, besides being designated as chairman of GNIDA, the 1983-batch IAS officer also holds the post of the state’s investment commissioner.