Monthly Archives: Jan 2020

Affordable Housing blog Infrastructural development Infrastructure development in India LPP Real Estate Smart Residential Living

Land Pooling Policy 2020

Jan 30,2020 / By / No Comment

Land Pooling Policy (LPP)

Delhi Development Authority (DDA) has formulated a Master Plan 2021 for Delhi to improve city planning in the divided zones under the Land Pooling Policy (LPP). Land Pooling Policy is the consolidation of small land parcels to make them into one larger land for construction in order to accommodate the residential and commercial solutions to the people of Delhi NCR. Under the Land Pooling Policy of Master Plan Delhi-2021, the national capital region will begin the smart city plan.

Land Pooling Policy was announced by the urban development ministry in September 2013. The initial phase would see several landowners/developers/societies to pool their land and assign it to the government for developing a percentage of land and retain a percentage to build infrastructure. Delhi Development Authority and the developers would operate in partnership for the development of the LPP Zone.

As per the Master Plan Delhi-2021, 6 Zones amongst a total of 15 zones come under the Land Pooling Policy. These zones are J Zone of South Delhi, K Zone of South West Delhi, and L zone in West Delhi. These zones will attract population and thus the difficulty of housing solutions will be fixed under the LPP.

Land Pooling Policy has encouraged the development of the Indian real estate market and retaining hopes of the builders. Homebuyers can buy luxurious houses at affordable rates in all the prime localities of Delhi NCR. The cautious use of large land parcels will benefit the stakeholders. It’s more beneficial to invest in the LPP approved projects and experience living around robust infrastructure. 

Key Amendments:

  • Timely development of infrastructure.
  •  Enabling farmers to pay development charges.
  • Mandatory EWS housing units.
  • Full utilization of approved floor area ratio (FAR).
  • Urbanization of 20,000 hectares of land.
  • 95 villages are coming together to develop.
  • Provision of 14-16 lakh housing units in Delhi.
  • 48-60 percent of the land to be returned back to the owners.

Major benefits of Land Pooling Policy:

  • The archaic Land Acquisition Policy has been mastered by the LPP, thus promoting proper land-use and bringing out transparency in land management.
  • Better revenue for the landowners and the government.
  • Better living at affordable prices.
  • PPP Model has been introduced, and it is the first time the government sector is working with private entities to construct quality development in the prescribed zones.

dda

Image Source: Quora

The dark red areas in the above map are the residential centers where the maximum population of Delhi resides. The red spots on the map imply that the residential centers of the city that are fully populated cannot accommodate any more residents on the currently available land. Delhi needs to expand to meet the needs of the migrant population which is expected to be 2.3 crores by 2021. The current infrastructure is only equipped to handle 1.5 crores of the 1.9 crore residents.

llp pic 

Distribution of land returned to DE (60%):

  • Gross residential – 53%
  • City-level (commercial) – 5%
  • City-level (public/ semi-public) -2%

Distribution of land returned to DE (48%):

  • Gross residential – 43%
  • City-level (commercial) – 3%
  • City-level (public/semi-public) – 2% 

Which areas will come under the ambit of this policy?

To compensate for the 50-60k acres of land requirement in the upcoming years, areas like Narela, Najafgarh, and Bawana will witness land pooling and development. About 89 of the 95 villages have been listed as urban villages that will accommodate development. This system is a part of the master plan for Delhi-2021 according to which the city of Delhi will be developed.

The master plan has highlighted the following roles in infrastructure development for each:

DDA:

  • Time-bound development of Master Plan Roads.
  • Create a plan for physical infrastructures such as water supply, sewerage, drainage, provision of social infrastructure, and traffic and transportation infrastructure including metro corridors.
  • External development in a time-bound manner (external development charges and other development charges acquired for city infrastructure shall be payable by DE on the actual cost incurred by DDA)

Developer Entity (DE):

  • Approval of layout/ detailed plan from DDA
  • Demarcation of roads as per layout plan, sector plan, and obtain verification of the same from the concerned authority.
  • Develop sector/ internal roads/ infrastructure/ services in its share of land (which includes water, power supply lines, rainwater harvesting, STP/ WTP, etc.)
  • Timely completion of development and its maintenance with all facilities (open spaces, roads, and services till the area is handed over to the Municipal Corporation)

Special Provisions for the Economically Weaker Sections (EWS):

As per the master plan, the developer entity will assure sufficient provision of EWS and other housing as per the Shelter Policy of the Plan. Aside from this, the developer entity shall also declare the prescribed built-up spaces, EWS dwelling units, and LIG Housing components to the DDA as per the policy.

  • The EWS Housing unit size range within 32- 40 square meters.
  • 50% of EWS housing stock to be maintained by DE for regulated sale for community service personnel and the remaining 50% to be sold to DDA, which will be improved as per CPWD index at the time of handing over. 

Development Framework and Control Measures

The Government/ DDA will be answerable for creating and implementing a framework for Land Pooling Policy to:

  • Frame detailed regulations including process and a timeline for participation in a time-bound manner. The laws shall be put up in public domain for capturing views of all stakeholders by giving a 30-day time frame
  • Create a dedicated unit for dealing with approvals of Land Pooling applications
  • Create a Single Window Clearance wherein all the agencies accountable for giving time-bound clearances will meet regularly as per notified timelines.

DDA shall formulate the following norms pertaining to the policy:

  • The residential Floor Area Ratio (FAR) of 400 for group housing to be applicable on net residential land exclusive of 15 percent FAR reserved for Economically Weaker Section (EWS) housing. Net residential land to be a maximum of 55 percent of gross residential land.
  • This is explaining the concept of building higher to support more population
  • FAR for city-level commercial and city-level public/semi-public development to be 250.
  • Subdivision of residential areas and provision of facilities shall be as per MPD-2021.

How shortly will it be implemented?

Lieutenant Governor Anil Baijal has approved and notified DDA Land Pooling Policy, and the implementation is set to begin once proposals are built on the final draft.

Apart from this, the developers have already started pooling land and we can see housing units soon.

What’s in it for a Delhi resident?

Being a Delhi citizen, you can expect approximately 25 lakh housing units in the coming 10 years. That means cheap and affordable housing.

If you are not a Delhi Resident, you can still invest your money in the land pooling scheme so to be a part of one of the biggest real estate booms in India.

Read More
Affordable Housing Budget 2019-20 Budget 2020 gst Home loan Income tax Real Estate Smart Residential Living

Real Estate expectations from Union Budget 2020

Jan 29,2020 / By / No Comment
CF-BLOG

Union Budget 2020 Expectations

The Union Budget 2020 will be presented on 1st February by the Finance Minister, Nirmala Sitharaman. Given the policy reforms undertaken by the government over the past couple of years, the real estate industry is hopeful that the upcoming budget will provide the much-needed impetus. The year 2019 saw the government take numerous steps to help improve market sentiment and revive real estate demand. Reforms such as capital gain benefit, tax exemption on notional rent, incentivizing Affordable Housing, the revised rental income limit for TDS, and thrust on infrastructure growth were highlights of the Union Budget 2019.

This time around, the sector expects the Budget 2020 to lower the GST rates on under-construction projects, increase the NBFC credit liquidity, implement single-window clearances for project approvals, redefine the Affordable Housing price bracket, allocate additional funds for PMAY scheme, and fuel investment in infrastructure.

In this backdrop, Commonfloor conducted a real estate survey on builders across India to capture their expectations from the Budget 2020. More than 300 builders participated in this survey to express their views and expectations.

Top_Sol

The majority of the builders (31%) expect the Budget to lower the GST on under-construction projects. GST reduction clubbed with the revival of Input Tax Credit can provide relief to the builders and housing can be made available at lower prices. After the reduction in GST rates in 2019, the government had withdrawn Input Tax Credit. The next key expectation of real estate is to address the challenge of NBFC (Non-banking Financial Company) liquidity. Liquidity will ensure positive momentum with a steady supply of ready-to-move homes. Also, single-window clearances can aid in procuring quick approvals so that project delays can be avoided. In the past few years, Affordable Housing has been the major growth driver. Still, it needs some reforms as currently only those houses are awarded affordable status and subsequently reduced GST rate of 1% which has a carpet area less than 60 sq.m. and falls under the price cap of Rs 45 lakh (GST rate for under-construction house is 5%)

Demand

Around 50% of the builders surveyed feel that the increase in Home Loan tax exemption is the primary factor boosting real estate demand. A further extension to the existing 2-lakh tax rebate on home loan interest rates will push the fence-sitters to buy homes. It could result in a higher demand for housing, especially in the affordable and mid-segment categories. Interestingly, “Redefinition of Affordable Housing” and “Income Tax Removal on Notional Rent” got equal responses from the builder community. The abolition of income tax on notional rent from the second self-occupied house benefits those with two houses and encourages home buying.

Sentiment image

One-third of the builders surveyed feel that the GST rates are the most vital component hurting homebuyers’ sentiment. Apart from GST, project delays and high property prices are the other factors that affect consumer sentiments. Builders feel that the initial aid of Rs 25000 cr last-mile funding for stalled projects is insufficient for the realty sector and that it needs to be executed on a larger level on a priority basis. Moreover, home loan interest rates and high government taxes such as stamp duty and registration could be reduced to propel demand in the market.

Fuel

Foreign Direct Investment is a key driver of economic growth and a medium of non-debt finance for any country’s economic development. One-fourth of the builders surveyed responded that single-window clearance will streamline the approval process and can bring about a major boom in FDIs for the realty sector. The next two major factors that can drive FDI are ‘clarity on entry-exit norms’ and ‘stamp duty exemption on FDI transfer’. More FDI in real estate will provide the necessary thrust to the current slump in the market.

Builder Bytes

Ajith Alex George, Director of 42 Estates says, “The real estate category in India requires bold fiscal measures from the union budget. The sector is going through a liquidity crisis with stalled projects across India, an economic booster required for the industry as a whole. Ease of Funding both on the supply and demand side along with quicker processing can again make this one of the key growth sectors. Approvals of projects have gotten better however there could be better clarity on some of the norms and changes in regulations, especially around taxation. Single-window clearance and query handling can make the process easier for the sector.

From the home buyers’ perspective, interest rates on home loans have to be reduced, we have been hearing further reduction on personal tax rates and stamp duties, this can strengthen the buying power of the home buyers which will have a compounding impact on the industry as both residential and commercial projects would get a better demand-side environment. The government is already doing its bit with the PMAY showing good traction, a further increase in subsidy rates for affordable housing can further help percolate this initiative. These steps might give the much-needed boost to the confidence of the developers and buyers alike.”

Mr. Amarjit Bakshi, CMD at Central Park says “Initiatives have already been taken to aid the real estate sector, such as tax concessions and availability of low-cost loans for developers and buyers. Reforms were put into place to promote rental housing as well as boost affordable housing, empowering the middle class and first-time home buyers.
We expect policy changes to boost consumption in the economy and improved liquidity for the industry by easing fund availability for the real estate sector, enabling the sector to come back on track, since it generates more than 6.5% of the GDP. It is expected that to boost investor interest, the limit of home loan interest will be increased. Announcing an industry status to the sector will bring manifold benefits.

Conclusion:

The implementation of the above-mentioned measures will help revive real estate growth to a great extent and give a thrust to home buying sentiments, which in turn will revive the economy. To generate cash flows for struggling builders, it is quite evident that the stress fund will be a big boost, but it would address only a small portion of the stalled projects. The rest could only be addressed by NBFCs and banks.

The real estate sector has long needed an industry status that can help to procure finances at a lower cost, especially now, when credit availability is a major headwind. The momentum of infrastructure development should continue from last year so that growth is decentralized and migration to urban centers remain under check. The real estate sector is optimistic that the upcoming budget will usher fresh stimulus in terms of bold fiscal measures to outperform its growth from last year.

Read More
blog Decor maintenance Real Estate News Smart Residential Living

Tips to sell your house faster.

Jan 24,2020 / By / No Comment

When you are selling your house in a buyers’ or sellers’ market, the basic points to sell a house will never change. Buyers will be most interested in your house during the first few weeks it’s on the market, so you are in the best state to sell your house when your house is ready to be sold. Too often there are numerous homebuyers that are being trapped in selling their house. By using the below tips, you can expect an offer in very less time.

Few simple steps for how to sell your house:

  • Be sure if you really want to sell your house:

You will save a lot of time if you don’t start the process of selling your house even before you know if you are ready for it. Here are a few things that you must be assured about a few questions:

·         Be sure if you can afford the cost of selling a house

·         Be sure if you are ready to leave this house

·         If you have built up enough equity in this house to sell

·         If space is the issue with the house then is buying a new house a good move or not.

If you are sure about all the above concerns then you can go ahead for it. To sell your home fast, you must take an active role in this process. You must take note of all the potential flaws. Do your entire homework, just to show how great your property is.

  • Find the right real estate agent:

Every seller deserves a better agent. You must be choosing a real estate agent who will be as much involved in selling your house as you are and who will suggest you what’s wrong and what’s right and how can you improve it by helping you coordinate with everything that is involved in your home buying process. When you are choosing an agent to work with, take options and referrals from people whom you trust and who has been through the home buying and selling process. Consider your particular needs and find an agent who would help you develop your home selling process. You will definitely have a lot of options when choosing your agent, so choose one who is fit for your situation.

  • Choose the correct time to go on the market:

The Indian housing market has its own ups and downs throughout the year and the schedule is pretty set. You must watch out for the perfect season where it is more likely to watch when buyers will look to buy a house. If you are trying to sell your home faster, then you must take advantage of this activity.

  • Capture professional pictures of your House:

Pictures of your house are very important when the buyer will see your house, they will understand to schedule a meeting or not. Good photos should highlight your house and photos must consist of all the features of your house. Photos must be taken in such a way that the space looks warm and inviting as much as possible. Photos are one of the most important parts of the listing, so make sure that it’s done in the right way.

  • Price it appropriately:

Everybody wants to make as much money as possible by selling their house, but it’s important to be realistic about the property. If your goal is to sell your home fast then pricing it appropriately will help you sell your home faster. You don’t have to underprice it but just try to price it smartly.

  • Declutter:

As soon as you know that you are going to list your home on online portals, it is always better to remove clutter from your house. The less stuff you have cluttering your home, the more buyers will be able to see the space itself, and not the items occupying the space.

  • Depersonalize:

Buyers must be able to see the property clearly, and they will have a tough time if they are looking at your family photos. The sooner you can remove any items that personalize the home, the better you can present a blank slate to the buyers who want to buy your property.

  • Staging your house:

Decluttering and depersonalizing are part of staging your house but not all of it. To sell your house quickly, your house needs to be decorated in a way that highlights its best assets. You must rearrange your furniture to open up space. Painting your walls with neutral colors, repairing all the imperfections, getting rid of anything that your house does not want, holiday decorations and all such staging tips will make sure that you are developing your house that will appeal to buyers and will show the buyers that they won’t need to do much work when they move in.

  • Be accommodating:

The selling process can be a bit of pain, mostly when buyers start scheduling their visit and you should get out of your house. Arrange the schedule so that it is comfortable for the buyer but not ideal for you. If you suggest any new time then there might be a chance where the buyer will lose his interest and might not visit your property.

  • Feedbacks:

Some buyers will contact your realtor after giving feedback on the property, be it good or bad, but many don’t.it’s important to get clear feedback from every single agent to know if you are doing right or wrong. Make sure your realtor is always up to the mark with the buyer’s agent to get their view on the property and find out if buyers liked your house or not. Then use the feedback to make the changes accordingly.

The average time takes to sell the house is between 65-70 days, but it is unquestionably possible to sell faster than that if you take the time to optimize each aspect of the house selling procedure. You can do everything in your ability to make sure that when the right buyer will come along, they know instantly that they have found their perfect fit.

 

Read More
blog Decor interior design trends Smart Residential Living vastu

2020′s latest flooring options.

Jan 22,2020 / By / No Comment
CF_Blog_03

TOP FLOORING OPTIONS FOR 2020

Flooring trends keep changing throughout the years as homeowners obtain new tastes and also technology enables a greater variety of flooring designs. Flooring finishes varying from ebony to driftwood became very famous in recent years. Few unique trends that had picked up are allowing flooring imperfections such as the mineral streaks and knots to create a natural look. It was also a significant year for faux flooring. Tiles that resemble wood were, particularly, in trend. 2020 is expected to bring with it the latest and exciting trends.

CF_Blog_01 (1)

Trend #1. Fumed Wood Flooring – Stronger Color & Grain

Fuming provides the wood rich dark tones and improves the natural grain of the wood. The final look is much more luxurious when compared to stain wood flooring. Using liquid ammonia on the wood risks damaging the fiber and could reduce its structure. To maintain expectations and safety concerns–do lots of research if you are planning to use fumed wood flooring.

CF_Blog_07

Trend #2. Bleached & Blanched Woods

Bleaching your current wood flooring or replacing it with ready-made blanched flooring will never fail to give your current wood flooring the bleached look which is often expensive and tedious work.  The 2020 bleached and blanched trend is continuing to be very popular. Although we expect this trend will transform all styles of homes since it is so breathtaking.

CF_Blog_04

Trend #3. Distressed Wood & Concrete Tiles

The distressed floor style has been around for quite a while but has become even more popular just recently. Next year, expect to see more homeowners choose for that luxury aged look in their flooring. Distressed flooring undergoes artificial aging and styling methods that provide it a slightly worn finish. Distressed concrete flooring can be integrated into most types of decors but works best in industrial and contemporary home styles.

CF_Blog_05

Trend #4. Wood Flooring Laid Out In Pretty Patterns

All of us are very much familiar with the basic side by side format of wood pieces laid on a floor –a description that usually relegates them to practical rather than decorative methods. But if you have been considering combining a unique twist to one of the spaces in your house, you can now add patterned wood layouts back to your list of stylish flooring options. 2020 brings with it a new look. Specifically, we are seeing an increase of Chevron or Herringbone-pattern designs in homeowner’s kitchens, bathrooms and more. Patterned floors are officially here, and you should not miss out.

CF_Blog_06

Trend #5. Vintage Black & White

Vintage has always been about bringing back the warmth and memories of decades past. In 2020, black and white tiles are earning a strong comeback. It’s not the same old black and white tiles that enhance historic homes. Alternatively, it’s bold, graphic, and more luxurious.  More and more homeowners need a unique twist to the vintage flooring style. This incorporates smaller tiles with bolder graphic patterns. This absolutely blends vintage with contemporary for the perfect look and feel.

CF_Blog_02 (1)

The general feeling moving into 2020 is that no one is convinced anymore with traditional materials. Homeowners need flooring materials that have been given proper treatment to make them unique in design and texture. Whether it is fumed wood, blanched flooring, textured tile or wood resembling tiles; buyers are looking for fresh and exciting choices. Fortunately, 2020 addresses quality, variety, style and it is not going to disappoint anyone.

 

Read More
Decor Fun Posts Life at home Real Estate smart city mission Smart Residential Living vastu

2020′s latest trends on Bathroom design.

Jan 22,2020 / By / No Comment
CF_Blog_01

Top Bathroom Ideas for 2020:

Just like every other part of the home, bathrooms are sensitive to fashion and design trends. The novelties in the washroom must be considered carefully because the investments in bathroom modification are more substantial and need some excellent ideas. Bathroom reconstruction or modification won’t be done so easily hence one must put a lot of thought and care when doing it. Once the concept of the bathroom modification is happening, the whole living space design arrangement must be considered and the entire style of the house must be done in a visual idea. There are a variety of bathroom design trends for minimalist bathroom designs for urban dwellings and the luxurious large houses with Jacuzzi, bathtubs, and large walks.

CF_Blog_02


  • Freestanding bathtubs and sinks:

A bathroom classic will never go out of style and it is easy to see what kind of décor they match and if you want a modern look or something more classic according to the interior you choose. Though they might be expensive, bathtubs and sinks will increase the value of your home as well as will retain the value of your house.


  • Private vanity setup:

A practical choice in many bathrooms is two sinks are better than one. With a double vanity setup, two people can use the same bathroom without any disturbances as there will be ample space for both of them and their personal items. The important centerpiece, the mirror can be designed as you wish. It can be elegant or stylish as per your choice. This trend is important because it makes your vanity a primary focus and will provide the flexibility of how your items are placed in front of the mirror and sink.

An accent wall will never fail to provide a centralized look to your bathroom. You can highlight the bathtub or whatever to create a focal point for your vanity. An accent wall is a wall in your bathroom that is made from a different material and different color to contrast against the rest of your bathroom. Popular choices as per trend for this year are marble, brick, tiles, natural stone, wood, etc. you can choose the choice of your material and can paint it as per your choice and create the look accordingly.


  • Choices of bold colors:

Adding a striking look or creating vibrancy to your bathroom doesn’t always require new sinks or cabinets, sometimes you can just repaint your existing bathroom as per your choice. All the conventional interior colors like lime green, black, white can be used and one should make sure to choose more saturated spaces to paint and create more warmth and depth look to your bathroom.


  • Heated floor technology:

A very common problem for everyone with going into the bathroom at night is stepping on the cold floors, and the heated floor technology has been around in countries like Rome. This trend is now increasing in popularity due to advances in electrical heating technology. Heated floors are of two types, hydronic and electric. Hydronic is a merely updated version of roman technology which requires installing the entire house with a floor heating system with rubber tubes that circulate the heat from your water heater. The other type is called electric, which is a thin panel that is installed under the floor and is controlled by your thermostat and timer.


  • Inclusion of modern light fixtures:

It is an easy and cheap way to upgrade your bathroom by installing a small sconce anywhere near the mirror. It can greatly change the mood and lighting in your space. You can add small chandeliers or hanging bulbs where they can greatly amp up the mood desired. You can also make your own fixtures which will give you a much more personal style and add more vibrancy to your space.

  •  

    Matte fixtures:

The demand for matte finished countertops, sinks, cabinets, bathtubs, ceilings are on the rise and it doesn’t seem to be diminishing anytime soon. With matte finishes, dust is not visible and the material is not easily absorptive. You can consider matte black if you want to give your bathroom a modern look that won’t be easily forgotten.

  •  

    Hidden or enclosed toilets:

For those who prefer more privacy, hidden or enclosed toilets are those that are separated by either a small wall or a sliding door. You can get creative by choosing designs that are barren and you can get creative by making this small enclosure in your own room by changing the wallpaper and by adding more accents like light fixtures, creating a more personalized look for you. When you Look up and get lost. They’ve all been caught staring off into the sky when they watching the clouds move along. This dreamy cloud wallpaper design gives a constantly moving impression and features a beautiful hue of color set atop a neutral-colored backdrop. Suitable for any room for adults or kids. Different styles of cloud wallpaper use different cloud colors to create a modern look. The print design adds an artistic touch. This cloud print is truly unique. We have a wide range of popular cloud wallpaper suitable for different situations.


  • Water-efficient toilets:

With water usage being a huge concern for the environment, water-efficient toilets are on the rise. It is recommended to get a water-efficient toilet if you are installing a new toilet in the long run. It Will reduce the total amount of water used, which will greatly affect both your water usage and sewage bill through the years.


  • Energy-efficient bulbs:

A common trend now is using energy-efficient bulbs which will provide a different sort of brightness, but more importantly use about 80% less energy and will last twice as long. All the light fixtures will be fitted with energy-efficient bulbs which will definitely benefit the environment as well as your bill.

  •  

    Adding plants:

A bathroom is an oppressive place and you can always give a green touch to make your washroom more appealing to make the area more vibrant and alive. You can actually grow many plants better in your bathroom due to the low light, warmth, and humidity that a typical bathroom has. So you can try adding some plants to your bathroom and add some air-purifying strength to your bathroom which can create a wonderful look for your washroom.

  •  

    Sound system:

Music is always a good way of relaxation and reduces distress. Adding a few small speakers in your bathroom can create a calming and relaxing environment. There are waterproof speakers in the market for very affordable prices if you want to make your showers more relaxing.

  •  

    Diverse tile textures:

A pretty common trend is diversifying your tile textures. Tile textures are those where you can create interesting patterns with your tiles that can feel more soothing to bare feet. You can also change the tiles in your shower or bath by giving your space a rustic feel depending on the colors you wish to incorporate.

  •  

    Adding photo gallery:

It is a trend that not only can be done in your bathroom but also in your entire house. You can take a piece of art that you love and display it in the center of your bathroom. You can also paint on the wall of your bathroom.

While many of these trends are popular for seemingly good reasons, it’s by your standards that your bathroom should be designed. At the end of the day, it is always important to implement designs and styles that will make your bathroom more comfortable for you.

 

Read More
1 2 3 4
займ с плохой кредитной историей