Category: flats in kolkata

Excavation Shoves Some Heavy Weight Shock To Kerala Realty

This time natural storage falls short to please the real estate demand of Kerala. Even after leading construction companies are ready to peg away as much least possible out of the quarry materials but the resource seems quite uneager this time. Sources say that against the escalating demand quarry materials meet a severe scanty. This inadequacy is hooks up with the abiding strike of the Small Scale Quarry Owners Association which has been giving the entire Kerala realty market several sleepless nights. The pending level of works is mounting higher with every passing day. The works of building development, infrastructure development are in the queue for this scarcity of quarry and other crusher products such as metals, granite, crushed stones, manufactured sand and boulders.

Things are taking even worst turn after the completion post 2 weeks of the following strike. According to the sources the strike was called up on December 19th and has been continuing till the time. Construction companies are putting accumulative efforts to wind up the strike and they have pledged to use limited amount of material to block further wastage of these raw materials on a promissory note but insufficiency has no camaraderie with any supply chain as concluded by the Quarry Owners Association.

K. A. Jith, a private contractor who takes up the work of houses and small buildings of the district opined, “The quarry strike after demonetization has affected us badly. We could not accumulate sufficient quantity of materials owing to demonetization effect and we are now finding it impossible to get materials.’’ It seems that the scarcity has been forced to go operators on strike.

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Almost 2500 quarries in Kerala are on indefinite strike from December 19 claiming instant intrusion to safe-guard the small quarries. The Supreme Court had lately issued an order making prior environmental clearance (EC) compulsory for all quarries counting small quarries and the quarry owners of which the state government did not give any thought to deal with the worries of small quarry owners. Kerala realty has been witnessing the repetition of the identical hard-hitting strike affecting the real estate business after 2010.

“The construction works had been at stand still for nearly two weeks after demonetization and when people started getting small amounts from banks for purchasing materials, we are facing shortage of materials, said P Naveen, mason worker. It has affected the livelihood of many people and immediate action is required to settle the issue, he added. Instead of protecting the environment the government employees give environment clearance to large scale quarry owners to carry out mining at Poramboke land and revenue land,’’ affirmed M K Babu, state general secretary of the quarry owners association.

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By LNN (Liyans News Network)

New Registration Rule Of West Bengal Under RERA

RERA was introduced to aim at enhancing property buyers’ right protection. Real estate in particular has effective role in Indian GDP. Again economic activities don’t symbolize GDP. Over the years real estate industry has been pointed as a sector of illegal money perking and delay in the registration and delivery process. Now HUPA has asked every state government to get registered under notified RERA. Gujrat has been the first state to register notified RERA. Now it’s West Bengal’s turn to submit notified real estate norms. As per the act state government needs to submit ‘’lay out plan’’- a plan of the projects representing the division or the proposed division of land into plots, roads, open space, amenities etc. and any other details as may be necessary.

It all starts with the plot registration clause
Act’s second chapter consist the rules for real estate project registration. For registration purpose a documents that are needed-
1. Authenticated PAN card, audited balance sheet of the previous financial year and valid income tax returns of past 3 years of the promoter.
2. Legal deed of the plot reflecting title of the promoter to the particular land with all other legal documents that proves that the land doesn’t have any third party involvement.
3. The details of loan and other debts on the land on which the development is proposed.
4. The correct measurement of open parking allotment.
5. In case the owner is any third-party or under any joint ownership there should be a proper written consent of the owner or JV agreement, copy of collaboration agreement and development agreement.
6. The promoter will pay the registration fee at the time of application by way of a demand draft on any listed bank for a sum calculated as the rate of:

a. Rupees 10/ sq mtr for residential projects where the area of land proposed to be developed, doesn’t exceed 1000 sq mtr., or 20 Rupees/ sq mtr for residential projects where the area of land proposed to be developed exceeds 1000 sq mtr.

b. Rupees 50/sq mtr for commercial or any other projects where area of land proposed to be developed doesn’t exceed 1000 sq mtr or Rupees 100/ sq mtr area of land proposed to be developed exceeds 1000 sq mtrs

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If the promoter applies for withdrawal of the application for registration before the expiry of the registration period of 30 days provided registration fee to the extent of ten percent paid under sub rules or rupees fifty thousand whichever is more, shall be retained as processing fee by the regulatory authority and the remaining amount shall be refunded to the promoter within thirty days from the date of such withdrawal.

Land registration process in India has been quite a lengthy and complex process which straightway affects the possession delivery and causes delay after the completion of the project.

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By LNN (Liyans News Network)

Environmental Clearance Won’t Create Exigency In Real Estate Development

Government now has relaxed environmental clearance process for upcoming real estate evolution in the course of ‘Housing for all within 2022’ project. The changes are likely to dash off through gazette. The central government has to make the clearance portion easier to fast-track the deliverance time of residential projects. Under this rule small projects will have to produce ‘self-declaration’ documents to meet environmental conditions. Whereas the bigger projects need to seek prior green approvals before the construction puts on the board. Therefore along with every other required legal documents before registration builders are bound to show environmental approvals if they are asked for the same.

These changes came in front in the past week with the gazettes as bye-laws in the environment impact assessment to stroke up the approval process for realty development. “Since the states are now required to bring changes in the respective building bye-laws so that it won’t be in conflict with the central notification, the implementation of the new rules will take nearly six to seven months,” said Manoj Kumar Singh, joint secretary in the environment ministry. This inclusion has been made following the footsteps of countries like Japan and Singapore. Speaking about the entire process Sing also informed, “Idea is to make more buildings follow environmental norms. It integrates standard environmental conditions with the building permission to cut delays.”

The following gazettes confirmed that residential projects sized 5000 sq mtr up to less than 20,000 sq mtr comes within range of fulfilling ‘environmental conditions’ through self-declaration and certification process. According to the law the local authorizes have the final say regarding conformity of the green laws. If you want to buy flats in Kolkata you should have a clear idea of whether the builder is well aware of this major submission. This category of project was under supplanting group. “The local authority may issue the building permission incorporating environmental norms in it and allow the project to start based on self- declaration and certification,” it said. Projects that are sized of 20,000sq mtrs to less than 1,50,000sq mtrs will be absolved from the existing modus operandi of ‘prior environmental clearance’ from the State-level Environment Impact Assessment Authority (SEIAA), due its time-depleting infrastructure. Now construction companies don’ need to go to SEIAA. This category of buildings now will get real-time ‘building permission’ and ‘environmental clearance’ from local civic bodies which will be having an ‘environmental cell’ for checking the environmental parameters.

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Now this cell will process online applications and come forth with it in a meeting of committee of development authorities and Municipal Corporation. The committee will audit and settle the environmental clearance will be issues to be incorporated format by the local authority. This entire move is aimed at ‘ensuring ease of doing responsible business’ and integrating the permission for construction. The key factor of the notification is to bring low budget flats within 2022 for the lower income socio-economical group in urban areas. Under the notification, only building projects of the size of 1.5 lakh sq metres to less than 3 lakh sq metres will have to go to the SEIAA for prior green clearance while the projects having more than 3 lakh sq metres will go to the environment ministry’s central assessment authority.

By LNN (Liyans News Network)

Country’s ‘Ease Of Doing Business’ Rankings Hit By Construction Delay

Indian economy is slowly getting back on the line with a fair ascend in the capital graph across the major cities. Reportedly Central government has come up with various kind of dynamism in order to rectify the process, wistfully there has been no positive response in India’s ranking in ‘ease of doing business’- declared by the World Bank in latest report. Specifically the existing civic administration and lagging process of real estate development approval can be spotted as unfavorable aspects behind the static condition. Here we shall probe how this delay is impacting ease of doing business.

Complex approval process–

There’s an existing ponderous approval system which has 3 lengthy stages involved i.e.- pre construction, in- construction, post-construction approvals-
Pre-construction– This is the phase when builders seek approvals for the site and construction lay-out, building permit from the civic bodies, archeological and environmental clearance, road access sanctions, civil aviation, fire and ground water authority
In-construction approvals contain pollution clearance and power infrastructure clearance
Post-construction is clearing building completion approval, possession certificate barring service plan and service connection permit

Single Window Clearance–

For accelerate the approval process the sector has a major need of single window clearance process for simplifying the approval gateway. However, the Union Urban Development Minister has announced that a new system will be set up for speeding up the real estate construction sector project approval process under which all projects will be sanctioned within two months from the time of application.

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India has been receiving foreign fund assistance from the tie ups with Korea, Japan and Cyprus. As per the latest report on EODB by World Bank titled ‘Doing Business 2017: Equal Opportunity for All’ India holds the rank of 130th among 190 other countries. This year a lot of improvement has been seen in the electricity connectivity where as the major whiner is the real estate property registrations and construction permits for drop rankings. Construction permit ranking this year is 185th.
According to the current infrastructure despite of the existing GST bill the tax structure is still very fragile. However the bill is partially in action there has to be major modification implemented in the entire construction business and registering properties in India. After the execution of ‘Insolvency and Bankruptcy Code’ India should witness substantial rise in the rankings expected. Adding on every Indian state is working on notifying RERA rules and formation of property civic body based on which this sector will get relieved from complex approval policy and obtain a single window clearance system approval policy that it had been looking for a long time. Now 162 days have been limited for a construction permit. Adding on in a recent report of HUPA it’s revealed the urban local bodies will be given more authorities in terms of enabling the single window clearance system.

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By LNN (Liyans News Network)

Smart City App To Enable Kolkata’s Next-Gen Real Estate Business

Smart phone apps for travelers while the person in on road. It could be the ultimate tool to guide you up to your destination. Now compass, alarm clock, weather, calculator etc for every distinguished facility there is either an in sum app or individual for smartphones and other gadgets. A gadget’s expediency can be increased with installation of convenient apps. Now Kolkata to introduce the smart city New Town app which will provide New Town information, places of attraction, restaurants and other relevant other details of the very place. With this launch potential property buyers will get an improved vision of the availabilities and exact sites of flats in Rajarhat.

Reaching places in New Town will be comfortable for the residents and greenhorns. Not just the area and the address, through this app they would get updated with the upcoming events and services in the area. This is another revolutionary step of HIDCO (West Bengal Housing Infrastructure Development Corporation) to promote residential sale in New Town Area. This app is called as ‘Smart City New Town app’. Even tourists can log in through this app to know about popular areas and other places of their interest.
Bus stands, bus timings, locating any address and buying books from digital library- all these purpose can be solved just by tickling the app. Café Ekante welcomes people for table reservation via using this app. This app also has ‘audio-tour’ feature that makes you listen about various places of your liking. Authorities said that the idea is to have a mobile app to spread awareness among the residents and outsiders about the various happening places in New Town, locations of those places, guides to reach there, information about the events happening at places like Eco Park, Mother’s Wax Museum, Rabindra Tirtha, Nazrul Tirtha and many others.

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Previously many other systems in New Town had been digitized. Not as an after-effect, but much before the demonetization this area of Kolkata started accepting virtual payments for buying residential items. There was an e-auction arranged by HIDCO for land distribution among the builders and individuals. Adding on The New Town Kolkata Development Authority (NKDA) is planning to make available all applications for the 100 residential plots online, and offer net-banking facility for depositing money for the purpose. They are also making payment to several agencies through using RTGS, NEFT and other Net banking options. This App can be downloaded on iOS and android operated handsets. This app will be incorporated with various other features and development, stated by the authorities.
It is important to keep in mind that many apps will require you to be online in order to get the latest information, again with the availability of free Biswa Bangla wifi residents won’t have to pay lengthy and unhappy internet bills. This is a unique method to abbreviate real estate market sloth and wipe out negative market sentiments. With the overall digitization the civic body is now in process to boost real estate sale of this Smart City.

By LNN (Liyans News Network)