Tag: Real Estate Properties

Kolkata- Popular Real-Estate Development Hub in India

Apart from being considered as one of the most idealistic cultural and educational hubs in the country, Kolkata is also referred to as a commercial center that has emerged out to be a lucrative medium for garnering huge profits in the business. In one word, the City of Joy is affordable. It is being sheltering millions since ages and with the rising popularity of the real estate arenas, this city will continue to umbrella many more. Be it the price of the food, commodities or any other things, Kolkata happens to be every citizen’s favorite and it is absolutely a delight to reside in one of the most charming cities in India which is enriched with add_watermark.phpsuch cultural and historical significances. So what makes Kolkata the most favorite destination of many Indians residing in the country?  This city, in particular has always been proffering the buyers with high-end residential and commercial properties at suitable localities within delightful price ranges. Investing in the real estate properties in the city has been extremely profitable and the effect to which lies in the attraction of many investors in the business. Thousands of investors regularly keep a track on the prices of the city’s properties (both residential and commercial) and keep buying and selling them according to the market situation.Since the property prices of the city are regulated by the consumers’ demand, hence the price rates do not fluctuate that much compared to the market condition of other contemporary cities and their properties.

Owing to the great bond that the city shares with the suburbs, the city is gradually spreading its wings towards building high-rise residential and commercial developments in the outskirts of the city.When it comes to possessing luxuriously designed villas, reasonable housing properties, the suburbs have it all and these fringes have been attracting the foreign as well the Indian investors since many years.The affordable prices and low-cost transport accessibility have enticed many people to invest in the city and take pleasure in earning huge profits. The apartments in south Kolkata are designed quite thoughtfully to provide the end-users with the best of residential and commercial experiences. Huge amount of real estate projects are designed in the heart of the city offering enormous potential to the investors as well as the end users.In the coming years, Kolkata will gain more potential in attracting the real estate investors around the world.

Rajarhat has been the crucial real estate destination for the investment of residential as well commercial developments since its emergence in the fringes of the city. It is one of the most popular hubs in Kolkata due to its price reasonability. According to the real-estate investment reports, Rajarhat has witnessed many foreign investmentsover the past few years. Many NRIs have made it a point to make huge investments in Rajarhat as the prices are extremely affordable.

Adding more districts in NCR to increase land supply: CREDAI

NEW DELHI: Hailing the inclusion of three more districts in the National Capital Region, realtors’ apex body CREDAI today said the move will lead to additional supply of land for development.

It cautioned however that the government prepare a master plan for development of the region or else builders will start accumulating land, leading to rise in prices.

The property consultant said there would not be any immediate impact on the property market of NCR.

Yesterday, the National Capital Region Planning Board (NCRPB) included Bhiwani and Mahendragarh districts of Haryana and Bharatpur in Rajasthan in NCR.

“It is a futuristic decision with vast ramifications for NCR region. Reports foresee almost 11 per cent increase in urbanisation of this area by 2021 and to reduce the pressure on Delhi, there was urgent need to expand the area,” CREDAI NCR President Anil Sharma said in a statement.

Stating that land is in short supply, Sharma said it was essential to expand the area to meet the future housing needs.

But, he cautioned that merely adding these areas to NCR will not serve the purpose unless infrastructure is developed in a rapid and planned manner.

“The decision should be followed up with preparation and implementation of Master Plan as soon as possible otherwise builders will start accumulating land, leading to speculative price rise,” he added.

Jones Lang LaSalle India CEO (Operations) Santosh Kumar said: “Its a long term decision. There would be no immediate impact of this on the NCR property market.

“More land parcel will come in the NCR. These districts would get central funds for infrastructure development. The connectivity of this region to the national capital will improve.”

The consultant noted that builders might start buying land, but it is unlikely that project would be launched in this region.

Source: The Economic Times

Corporator to rope in architect for slum infrastructure

To ensure better planning in slums, a corporator is now roping in an architect to design infrastructure in his ward specific to the local requirement.

BMC, which has provided for additional Rs 100 crore for slum projects, has asked ward offices to appoint consultants to plan such projects. Each corporator in wards dominated by slums has received Rs 15 lakh to Rs 1 crore for improvement of slum infrastructure.

Rais Shaikh, SP corporator from ward 132 in Chembur (east) is in the process of appointing an architect for basic civic infrastructure. “There are major lacunae in the existing infrastructure, especially in slums. For example, the civic administration has set up a drainage system, but there are missing links or broken drains that lead to water flowing back into the homes of slum dwellers,” said Shaikh.

Shaikh said the architect will study, analyse and design infrastructure and bridge the gaps. At present, setting up of infrastructure like drains, public toilets, construction and repair of roads is done by the local ward office. “The architect will also look at the need for green patches,” he said.

“BMC engineers work in isolation while setting up or repairing civic infrastructure. In most cases, it is not well-connected to reach the end-user,” said Shaikh.

Source: The Indian Express

Relief to builders, Centre relaxes green norms for high-rises

NEW DELHI: In what will be a big relief to builders in tightly-packed cities such as Mumbai, the environment ministry has done away with green clearances for high-rise buildings based on the width of the roads that they fall by the side of and the distance from fire-stations. It has left it to the state government to makes rules as they deem fit.

The move comes after several state governments — and Maharashtra in particular — had pleaded with the Union government to remove the regulations that the builders had strongly opposed.

The relaxation is expected to allow builders to put up higher multi-storey buildings on smaller roads and lanes in cities.

The rules required buildings above 60 metres can secure an environment clearance if they were on roads at least 30 metre wide. Such buildings had to be located within 2km of a fire station. Buildings between 45 and 60 metres needed to have an approach road that is at least 24 metres wide and at not more than 5km from a fire station. Buildings between 30 and 45 metres had to be located on roads at least 18 metres wide with fire stations not more than 10km away. Buildings between 15 and 30 metres required a 15-metre wide approach road, but no restriction linked to presence of fire stations was placed. The February 2012 regulations also required a no objection certificate (NOC) from the state fire department and the national or state disaster management authorities.

The provisions had been brought in considering safety measures for high rise buildings and increase in traffic in cities.

But after a lot of criticism that found support in the PMO, the environment ministry set up a committee under Planning Commission member K Kasturirangan to review these norms and other clearance conditions applicable to roads, SEZs and the real estate sector. The panel recommended doing away with the regulations and leaving it to the state governments to regulate the safety codes.

Source: The Economic Times

Karnataka governor returns Land Revenue Bill passed during BJP government

BANGALORE: Governor H R Bhardwaj on Wednesday returned the Karnataka Land Revenue (Second Amendment) Bill, 2012 , passed by both the Houses of the legislature in last days of BJP tenure.

The legislation was brought by inserting new section 94CC in the act with the intention of regularizing unauthorized occupation of revenue land belonging to government areas with dwelling houses constructed prior to January 1, 2012 by granting the land to unauthorized occupants after payment of small amount of fee.

Justifying the decision to return the bill, governor has said “The policy of regularization of encroachment of government land directly encourages illegal occupation of government land. This amendment will cause severe inroads into the lofty principles such as rule of law, equality before law, due to process, majesty of law, dignity of courts, inalienable fundamental rights, directive principles etc, which are enshrined in the constitution,” he said. He added that in the larger interest of the public, illegal occupation of government land has to be curbed.

Referring to Task Force for Protection of public lands headed by V Balasubramanian, Joint Legislature Committee constituted to go into the deadline of the problem of land grabbing and encroachments and also Supreme Court judgment in the case of Jaspal Singh Vs State of Punjab in January 2011, Bhardwaj in a strongly worded observation has said the amendment bill does not specifically prohibit grant/regularization of common land. “This amendment does not serve any public good or social cause, on the other hand it may lead to illegal grabbing of government land.”

Governor also observed that similar act was passed in April 1998 of regularizing the unauthorized occupation as a one time measure. “However it is not known why such lands under unauthorized occupation made prior to April 1998 could not be granted till now.”

Source: The Times of India