Category : Real Estate News

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Pimpri-Chinchwad uses Rainwater Harvesting to Battle Water Woes

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Pimpri-Chinchwad uses Rainwater Harvesting to Battle Water Woes

Summer has brought water woes to a lot of housing societies in Pimpri Chinchwad, which makes citizens spend lakhs of rupees on tankers. One culture in Pimple Saudagar has revealed such wasteful expenditure could be curbed. Roseland Residency executed a rainwater harvesting job on its assumptions and is now reaping the harvest of its foresight. The society is spread across 12 acres.

Chairman Santosh Maskar stated the overall daily need of water presently is 10 to 12 lakh litres, but they get just 70,000 to 80,000 litres every day from PCMC.

“In 2009, we began implementing rainwater harvesting to recharge groundwater so we could draw from the borewells and decrease our reliance on tankers. The pilot project was used in six buildings for Rs 2.5 to Rs 3 lakh. On executing the project, the cost is to Rs 40,000 each construction. We do not require any water tankers in the summertime,” said the chairman.

Rainwater harvesting is a way of collection and storage of rainwater in organic reservoirs or tanks, or the infiltration of surface water to subsurface aquifers (until it’s lost as surface runoff). One way of rainwater harvesting is rooftop harvesting. Together with rooftop harvesting, any surface — plastics, tiles, metal sheets, but not palm or grass foliage — may be used to intercept the flow of rainwater and supply a family with storage and drinking water. Other applications include water for livestock, gardens, and irrigation, etc..

Rainwater harvesting supplies a different water source. In places where water is difficult or expensive to find, rainwater harvesting is a supply of water that is fresh. In developed nations, rainwater is harvested to be utilized as a supply of water as opposed to supply, but the harvesting of rainwater may reduce utilization amounts or a family’s water expenses. Rainwater is safe to consume. Rainwater can also be independent of salinity or pollutants within soil water, raising the value of mobile drinking water accessible when rainwater harvesting is utilized. It may be used for cleaning, washing clothes etc.

The achievement of Roseland Residency could be reproduced by all housing societies. Ashok Shinde, chairman of Kunal Icon housing society, stated, “Our society has 450 apartments and 40-row homes. Each of the four borewells from the society dries up in February, and now we must rely on water tankers to our everyday needs from February to May.”

Anil Deore, secretary of Rosewood Apartment and Condominium co-operative society, stated, “Our society is just three years old. It’s 350 apartments, and we get just 35,000 litres of water every day from PCMC rather than the 1.25 lakh we need. In 2016, we needed to get tankers. We invest Rs 2 lakh a month .”

Both housing societies employed rainwater harvesting facilities in the assumption that water can be yielded by their borewells to recharge groundwater levels, but didn’t gain from it.

Maskar stated they’d assist home societies in Pimple Saudagar to implement rainwater harvesting and prevent the squander of lakhs of rupees on water tankers.

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An Awe-inspiring and Eco-friendly Feat of a Mulund Society

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An Awe-inspiring and Eco-friendly Feat of a Mulund Society

It is not news that global warming is on the rise. There is nothing new about the climatic effects that the phenomenon has, over the past few years. With increasing carbon footprints and widespread pollution, global warming levels have gone up, if that were possible. So much so, that the Paris accord was signed by nations across the globe to control and reduce the emission of harmful greenhouse gases.
With so much effort put in to stave away the effects of global warming at an international level, there are societies within India, that are doing their bit in conserving the environment. One such being Grace Co-operative Housing Society in Mulund West, who switched to solar energy, saving up to five lakhs yearly, and 41,000 rupees monthly on electricity bills.
With around 160 apartments, Grace Co-operative society installed over 94 solar panels to power lifts and common areas spanning across its five building complexes. The 29.4 KiloWatt power setup can generate up to 45,000 and 120 units of electricity yearly and monthly, respectively. The entire setup cost the residents, collectively, around 18.5 lakh rupees.
Despite the installation cost, the residents remain positive about the outcomes of their step to using renewable energy. In an interview with the Hindustan Times, a resident was quoted saying, “We expect to recover the cost of installation over the next three years. We will also be recovering Rs 5 lakh through a subsidy provided by Maharashtra State Electricity Board (MSEB) as per government rules.”
The residents also divulged in the interview that they currently use a net-metering system, that sends the excess power generated by the solar back to the grid. Any deficiency in electricity is imported from the panels as well. The system, in the end, not only benefits the residents of the society but also people in the city who experience daily power cuts. For the surplus current can be used to supply electricity to them.
Aside from adopting solar-powered electricity, Grace Co-operative Housing Society also segregates its garbage and recycles the same. They have been following this practice for four to five years now, and have recycled over 3.28 lakh kg organic wastes. Daily, every house segregates its dry, plastic, and organic wastes. The former is picked up by the civic body’s dumper truck, while the latter is dumped in the compost drums.
Inside these four drums, the organic wastes turn in to manure, which is, then, used to supplement the growth of over 100 trees planted within the society. Through this, they generate up to 30 kg of manure for the plants in one month alone. In the interview with the newspaper, a resident said, “We are following a zero-waste concept as there is 100% waste segregation in the society.”
In a world where the US has exited the Paris Accord, what Grace Co-operative Housing Society has achieved with a united wish to reduce their carbon footprints, is awe-inspiring. They, most definitely, set an example that every society should follow for years to come.

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Realtors appeal to the housing ministry to cut GST rate

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Realtors’ appeal for GST rate cutting

In a letter to the GST Council, brokers have requested that real estate agents be released from GST on services provided for affordable housing.

The Association of Certified Realtors of India (ACRI) has appealed to the housing ministry to reduce the 18% goods and services tax (GST) levied on brokers on the brokerage they earn from builders on each transaction and make it 5%.

Reduced GST on brokerage will help them overcome trouble and give better job opportunities to their community in coordination with the GST Council.

Brokers said they were fighting with a slowdown in sales and getting it difficult to sustain as builders refused to pay GST levied on sales.

“No builder is ready to pay GST on the brokerage. The channel partners are already squeezed; this is just an additional burden,” said Irshad Ahmed, president, National Association of Realtors.

The ACRI and the National Association of Realtors had also appealed to the central committee to withdraw the 5% fine on brokers. “The finishing and delivery of projects are not in our hand. We are only a marketing member and reliant on the information was given by the developers and authorities,” said Aggarwal.

The service tax levied on real estate agents’ services was raised to 14% from 12% in June 2015, just before GST was levied on realtors. The GST rate applicable for all services provided under the heading ‘real estate services’ on a fee or commission basis or contract basis and for services by way of renting of a residential home for use as residence is excluded from GST. Other rental aids attract GST at 18%.

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Uttar Pradesh RERA approved projects, builders, and agents

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Uttar Pradesh RERA:

Uttar Pradesh has been one of the most active states in the implementation of the Real Estate (Regulation and Development) Act (RERA) rules.

Uttar Pradesh RERA Rules, have been notified and the state’s RERA website was launched on July 26, 2017.

The UP government had launched a portal for online registration of real estate projects and for filing complaints against errant developers in the state under the Real Estate (Regulation and Development) Act, 2016 (RERA).

As of April 2019, approx. 2610 projects, 1415 developers, and 2725 brokers/agents have been registered under UP RERA.

The list of approved projects, agents, and developers have been uploaded in the UP RERA portal can be accessed by the public.

List of approved projects for Uttar Pradesh RERA: Click here to view

List of approved agents for Uttar Pradesh RERA: Click here to view

List of approved builders/promoters for Uttar Pradesh RERA: Click here to view

Uttar Pradesh RERA approved projects, builders, and agents

Projects

Residential – 2295

Commercial – 315

Developers/Promoters

1415

Agents

2725

Irrespective of these approved projects/agents, RERA has rejected several real estate projects as well.

List of residential projects in Noida

List of residential projects in Greater Noida

List of residential projects in Ghaziabad

List of residential projects in Lucknow

List of residential projects in Agra

List of residential projects in Kanpur`

List of residential projects in Varanasi

 Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any action taken based on the information provided.

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Resale of flat in Mumbai ensures your returns on investment

Resale Flats

Resale of flat in Mumbai ensures your return on investment

Taking a look at what’s currently happening in the resale flat market might help with the decision making. Before selling off your old flat, you need to know whether it is the right time to sell or not. The resale property markets mainly depend on the new supply. If there is a short supply of new houses, the resale market in that region grows. Almost every part of Mumbai where availability of land is a concern, there are many areas where demand is high and new supply is poor or limited.

 Due to limited supply in Mumbai, there are high risks that people looking for resale of the flat will get the right and attractive price. On the other hand, in areas where new supply is significantly high, the property seller should wait for the right time to get a good return on their investment.

There are hardly any pre-used flats or old flats available in a place like Napean Sea Road, Malabar Hill, Mahalaxmi, Bandra, and Juhu. As a result, property prices in these locations are very high and almost constant. Some other places like Bandra-Kurla Complex, Andheri, Powai, Santacruz, Vile Parle, Dahisar, Mira Road, parts of Thane and Navi Mumbai have also experienced higher property rates. These areas are witnessing a huge growth in commercial centers, recreational places, and infrastructure development. Owing to affordability and connectivity to major business hubs, the appreciation of prices remains constant. Most of the people are on the lookout for affordable housing options and these areas offer majorly to the sales volume of affordable flats.

If anyone is planning to resale their flat, first consider how old it is, location, new supply in the region, and return on investment among others. The age of the building should not negatively hit the price of the flat. People who owned a flat for more than a decade should definitely look at an exit and reinvest in some new project. But those who have bought their flats 5 years back, then the returns won’t be good enough as prices have remained stagnant for this period. If the owner of the property wanted to sell a flat urgently due to reasons like poor maintenance of the building, ineffective housing society, etc., then the owner of the property needs to make sure that he gets a return on investment of at least 10% for each year.

 Recent judgments and benefits on resale properties:

In December 2018, the Bombay High Court ordered that stamp duty authorities can not seek stamp duty on past transactions for resold flat.

 Maharashtra government allows resale of MHADA’s 5% quota flats.

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