Category : Affordable Housing

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PM Urges Bureaucrats to Remove Difficulties to Achieve “Housing for All by 2022” Mission

Aug 1,2019 / By / No Comment
PMAY2

PM Urges Bureaucrats to Remove Difficulties to Achieve “Housing for All by 2022” Mission

Yesterday, PM Narendra Modi In the first “Pragati” review meeting of his 2nd term in PMO Office, repeated his government’s commitment to the “Housing for All by 2022” mission. PM also reviewed the progress of public grievances associated with the Pradhan Mantri Awas Yojana (PMAY-U).

The Prime Minister asked for dialogue with states which could help in resulting best exercises and further changes in the scheme.

Stressing the importance of Jal-Shakti, the Prime Minister also directed states to appeal maximum efforts towards water conservation, mainly during the current monsoon season.

He further recommended a feedback collection process utilizing technology wherein people with disabilities can provide information about inaccessible public premises.

This was the first meeting of Pro-Active Governance and Timely Implementation (Pragati) in Modi’s 2nd term in office.

He emphasized on the resolve of his government to assure that no family will be left without a home by 2022, and advised the officers to work energetically towards this goal, and remove all difficulties coming in the way.

Towards this end, Modi also examined the resolution of public grievances associated with the Department of Financial Services.

The PM also reviewed the working of the government’s desirous health insurance scheme Ayushman Bharat. He was notified that around 35 lakh beneficiaries have got the advantage of hospital admissions and over 16,000 hospitals have connected the scheme so far.

He tried to know what steps are being taken to control special cases of cheating and fraud, and I’ll-usage in this scheme.

Reviewing the improvement in Sugamya Bharat Abhiyan, the prime minister suggested for use of technology to develop a device to collect feedback from differently-abled on approachability problems being suffered by them in public premises.

The progress of 8-important infrastructure projects has been reviewed by the PM Modi in the railway and road sectors. These projects are span across various states including Bihar, Uttar Pradesh, Madhya Pradesh, Maharashtra, Odisha, Himachal Pradesh, and Gujarat, the statement said.

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Driving Factors in Kolkata’s Residential Real Estate

Jul 30,2019 / By / No Comment

Driving Factors in Kolkata’s Residential Real Estate

Kolkata, the state capital of West Bengal is one of the fourth most populous cities of India. Popularly referred to as the town of joy, the land is wealthy in its culture and tradition. When it comes to its real estate scenario, the city is witnessing rapid growth in all the segments ranging from high end to affordable properties.
City’s property market witnessed a couple of major enhancements in seeing that all the important estate market players have up their game, and are actively participating in this multi-core market.

The real estate sector in Kolkata, according to statistics, has shown a growth of 11% on a yearly basis.
There has additionally been the expansion of diverse townships. The Garia Baishnabghata Patuli township, the Behala township, the Alipore township and the currently emerging township in Rajarhat, New Town, Joka, Garia, Sonarpur, Barasat are a few examples.

This rising administrative district additionally provides cheap rent and fairly priced property compared to property costs in different metropolitans. The demand for property has seen a tremendous spike ever since the construction of the Metro Railways. There is already a metro corridor that connects Dum Dum to Tollygunge and was later extended to connect Noapara to Garia. The metro corridor currently under construction, also known as the East-West corridor will connect Salt Lake to Howrah, making connectivity a dream come true for commuters.

Kolkata is basically an End-user market and shown rapid growth in affordable housing in recent few Quarters. People living in B towns and working in Kolkata are preferring to buy property in the outskirts of Kolkata. The main reason for this is the affordable prices of properties in the outskirts.

Mukesh Agarwal pic

Insights by:
Mukesh Agarwal
Director, Maa Durga Properties

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Nagpur Municipal Corporation has planned to construct low-cost homes under PMAY on Orange City Project

Jul 9,2019 / By / No Comment
Nagpur Municipal Corp

Nagpur Municipal Corporation has planned to construct low-cost homes under PMAY on Orange City Project

As the construction of Metro Mall at the Orange City Street has begun, the Nagpur civic body has decided to start the construction of a hospital near Khamla and residential homes between Jaitala T-point and Yashoda Nagar as a part of the Pradhan Mantri Awas Yojna (PMAY) under Orange City Project.

City MP and Union Minister Nitin Gadkari in a meeting held last week directed the Nagpur Municipal Corporation to keep housing schemes under the central govt’s Pradhan Mantri Awas Yojana to encourage home buying affordable for the Middle Income Group (MIG) and Economically Weaker Section (EWS).

The proposed hospital buildings will come up in two buildings, of which one building would be a multi-speciality hospital and another one include OPD, radiology, pathology centres, and medicines.

The Nagpur Municipal Corporation following MahaMetro has started construction works for Metro Mall adjacent to Jaiprakash Nagar Metro Station at Radisson Blu Square. The basement work has completed and concrete work will start soon.

Orange City Street is also known as London Street project is being developed by the Nagpur Municipal Corporation in Maharashtra. The project includes 10 different expenses allocated for residential, commercial, IT Park, green zone, vegetable market, and medical zone. The remaining zones in the project are cultural, retail market, recreational, parks, parking etc.

It is being developed on 5.50 km on both sides of Wardha road- Somalwada-Khamla-Bhamti-Parsodi-Takli-Jaitala T-Point road stretch. The project will span across 75.34 acres of land. The total built-up area under the project is 10,75,984.40 sq mt. It will spread over a total of 21 plots and comprise 60 residential and 13 commercial buildings at the cost of 5,700 crores which was planned in the year 2007. This project received a negative response on Build-Operate-Transfer (BoT) model. Now, the Nagpur Municipal Corporation has come forward and taken the execution work in a phased manner. The civic body will sell the properties and recover the cost.

The civic body has made special building bylaws for the project to make it feasible and affordable for the Middle Income Group and Economically Weaker Section.

As per Abhijit Bangar, Municipal Commissioner of Nagpur, they are planning to begin construction works on five shopping malls at Cotton Market, Sokta Bhavan, Sakkardara, Netaji Market, and Budhwar Bazar within 6-months time period. They will soon start the tender process for Sokta Bhavan, Sakkardara and Budhwar Bazaar Complex.

For making the Orange City Street Scheme a success, the Nagpur Municipal Corporation (NMC) has come up with many initiatives including floating floor space index (FSI), special building regulation and use of all buildings for various purposes.

Image Sources: Google

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What is DDA’s Land Pooling policy says?

May 8,2019 / By / No Comment
DDA_01

Land Pooling Policy:

I have experienced consistent queries on DDA’s Land Pooling Policy asked by buyers who are interested in purchasing a property, particularly in Delhi. Some of them are what does Land Pooling Policy mean? How does it affect property buying and selling? Should you invest in a pooled land property?

Land Pooling is an idea where small pieces of land are owned by a group of owners who group for the development of infrastructure as per the plans of the Delhi Development Act 1957.

The idea behind land pooling is to combined small pieces of land into a large piece, develop necessary infrastructures such as water supply, drainage, and sewage system, make a plan for wider social and other infrastructure, including transportation and main roads, and return the developed land to owners or developers in a fixed ratio.  This is to assure the development of urban land parcels available in the city, particularly on its outskirts, in an effective, supportable or livable and equal manner. It will help to develop and extend the city in a planned manner by boosting the supply of new land and fulfilling the demand for housing.

According to Minister of State (I/C) for Housing & Urban Affairs has stated that the land pooling is a new model for the urban development of Delhi, where the private sector will play an active role in collecting land and developing physical & social infrastructure.

Land Pooling is a concept that where small chunks of land are owned by a group of owners who assemble for the development of infrastructure as per the provisions of the Delhi Development Act 1957.

Recently, Delhi has launched a web portal for the Land Pooling Policy. Under the new Land Pooling Policy, the role of DDA will be that of a coordinator and planner.

As a first step towards its functioning of the policy on fast track mode, the web-enabled interface on DDA’s website is for inviting Expression of Willingness for participation where any landowner of any land size falling in planning Zones K-1, L, N, and P-II may come forward to register on the website.

The policy grants a Floor Area Ration (FAR) of 200 for group housing/residential purpose, considering the availability of resources and services.  It is expected to generate about 17 Lakh housing units for 76 lakh people. In order to promote affordable housing, FAR of 15% over and above the maximum permitted residential FAR has also been allowed for EWS/ affordable housing. This will meet all the goals of Housing for All. Out of a total of 17 lakh housing units, more than 05 lakh housing units will be for the economically weaker sections of the society.

The new developments under the land pooling policy shall adhere to the mandatory green building standards as directed in the Delhi Master Plan (MPD) and building bye-laws by organizing policies like maximum use of recycled water for non-potable purposes, storage of rainwater, double pipeline, zero waste technology, etc.  Minimum 10% of all energy use shall be renewable through solar power or through other renewable energy sources.

Keeping in mind the goal of ‘Ease of Doing Business’ the complete process of development by Developer Entities/Organization will be through the Single Window System, which has been launched in February 2019, within the given time period.  Through this portal available on DDA’s website, Expression of Willingness would be encouraged for participation in the policy.

Under this new policy, single owner/multiple co-owners are required to register online and make payment of prescribed charges/fees, based on which a unique registration ID shall be provided to the applicant for future use.

The Khasra/land details and other uploaded documents shall be checked by DDA from the respective departments/custodian of the records. On joining/pooling of minimum 70% adjacent land of the sector and on completion of verification of revenue records, DDA will issue a Notice to agreed landowners of the sector, to form a single association called the Consortium. Under the policy terms, the consortium formed will be asked to prepare an Implementation Plan in discussion with all agreed landowner and sign a lawful contract agreement with them before applying to DDA as a single entity for initiating development within the sector.

The portal will continue open for a period of 6 months to assure maximum participation/pooling in the named sectors so that planning and execution of infrastructure can be initiated in a combined way.

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Best Affordable Housing Projects in Kolkata’s New Town

Apr 23,2019 / By / No Comment
Kolkata

Affordable Housing Projects in Kolkata’s New Town

Kolkata’s New Town is a fast-growing and planned satellite city of North 24 Parganas district of West Bengal. It is a part of the area covered by the New Town Kolkata Development Authority (NKDA). This new information technology and residential hub are being developed on the north-eastern fringes of Kolkata and considered as the best locality in Kolkata for investment as well as for end users.

This locality is a perfect option for those looking for affordable property. Prices here are at its record low currently – data available with CommonFloor.com show average prices stand at Rs 3,500/sq.ft.

But this locality is set to change now. This locality is getting a Metro connectivity. Construction of Line 6 of the Kolkata Metro is underway that will connect the Netaji Subhas Chandra Bose International Airport to New Garia while passing through New Town. This route is expected to be operational by 2021.

Since rates are expected to see an upward movement in the future, it is the right time for investors to ripe to put their money in real estate hotspot of Kolkata. There are many top localities in Kolkata for investment and Kolkata’s New Town is one of them. To support those investors who are willing to utilize the opportunity, CommonFloor lists 5 projects that in New Town that offer homes under Rs 50 lakh.

 

Jain Dream One

RERA ID – HIRA/P/NOR/2018/000070

This under-construction project by Jain Group of Industries offers 2 BHK apartments between 945 – 1080 sq.ft. Prices of these units run between Rs.45.36 L – 51.84 L.

The project, which will be ready for possession in December 2020, offers all the basic amenities for the dwellers, including a landscaped garden, gymnasium, clubhouse, children play area, an intercom facility, a 24×7 security system, badminton court, power-backup provision, etc.

 

Magnolia Signature

RERA ID -

This project by Magnolia Infrastructure Development Ltd offers 2 and 3 BHK apartments that range between 892 – 949 sq.ft in 2 BHK, and between 1155 – 1261 sq.ft in 3 BHK. Prices of these units run between Rs.32.11 L – 34.16 L for 2 BHK and Rs.32.11 L – 34.16 L.

The project, which will be ready for possession in December 2022, offers all the basic amenities for the dwellers, including a landscaped garden, community hall, gymnasium, children play area, an intercom facility, senior citizen park, 24 hours power-backup and water provision, etc.

 

GPS Meena Aurum

RERA ID – HIRA/P/NOR/2018/000213

This completed project by GPS Group that offers 2 and 3 BHK residential apartments in different configurations, ranging between 802 – 971 sq.ft for 2 BHK and 1123 – 1312 sq.ft for 3 BHK. These apartments are available in the price range of Rs.4.86 L – 30.10 L for 2 BHK and Rs. 4.86 L – 30.10 L for 3 BHK.

Amenities in the project include round-the-clock security, a gymnasium, Wi-Fi connectivity, fire fighting system, 24 hrs power backup facility, and a car parking area.

 

Ambey Eco Valley

RERA ID – HIRA/P/NOR/2018/000069

This project by Ambey Group offers 1 and 2BHK apartment configurations that will be available for possession by 2021. These units are available in different sizes, ranging between 914 – 1002 sq.ft for 2 BHK and 1268 – 1291 sq.ft in 3 BHK. Apartments in the project are priced between Rs 47.14 L – 51.14 L for 2 BHK flats.

This project is well-equipped with all basic facilities such as a community hall, swimming pool, gymnasium, etc.

 

Merlin Aspire

RERA ID – HIRA/P/NOR/2019/000372

This project by Merlin Group offers 1BHK apartments that range between 518 – 530 sq.ft. Prices of these units run between Rs 12.43 L – 15 L.

The project, which will be ready for possession in June 2020, offers all the basic amenities for the dwellers, including a gymnasium, senior citizen park, children play area, community hall, an intercom facility, a 24×7 security system, power-backup provision, etc.

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