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MHADA Lottery Scheme 2020 Mumbai

Feb 24,2020 / By / No Comment
MHADA Housing Scheme 2020

About MHADA Board

Housing is the most important aspect of human life, all of our efforts and all of our govt’s efforts are Housing for All by 2022”. Every year, the MHADA has plans to unveil several lottery schemes under the MHADA Lottery Scheme 2020 to provide affordable housing options to the homeless population of the state. Under the govt’s ambitious housing scheme, the Pradhan Mantri Awas Yojana (PMAY). MHADA will offer affordable housing options in different cities of the state. This housing scheme is available for residents of Mumbai only. The process of the scheme will start at the beginning of the year 2020. Interested applicants can apply online for this lottery scheme.

MHADA Lottery Scheme 2020

MHADA, established in 1948, is a housing scheme released by the Housing and Area Development Authority, Government of Maharashtra for the people of the state. Desired applicants can apply for the scheme under four categories economically weaker section, lower-income group (LIG), Middle-income group (MIG) and High-income group (HIG) category. Registration of flat will be done by online & offline both process. We are sharing some important information and dates about the Mhada Pune Lottery scheme 2020.

What are the objectives of MHADA Lottery 2020?

The main purpose of this MHADA housing scheme 2020 is to give housing to economically backward, poor people at affordable rates. The central government is bound to offer housing for All by 2022, for which the center is providing housing to the urban poorer under the Pradhan Mantri Awas Yojana (PMAY).

What is the MHADA Lottery Scheme?

MHADA first came up with a low-cost housing scheme in 2012, under a lottery system for 2593 apartments in Mumbai. Since then, in subsequent, it has announced similar lottery schemes, like the MHADA Lottery 2017 Mumbai and more recently as well.

Types of Lottery under MHADA:

  1. Mumbai Board MHADA Lottery 2020
  2. Pune Board MHADA Lottery Scheme 2020
  3. MHADA Housing Scheme Konkan Board
  4. Amravati Board MHADA Housing Scheme
  5. Nashik Board MHADA Housing Scheme Draw
  6. Nagpur Board MHADA Housing Scheme Draw
  7. MHADA Housing Scheme Draw For Aurangabad Board

MHADA Pune lottery 2020: Important dates, Information

Name: Mhada Lottery

  • Location: Pune
  • Department: Maharashtra Housing and Area Department Authority (MHADA)
  • Launched By: Maharashtra Government
  • The commencement date of the application: Announced soon
  • Last date of application: Announced soon
  • Application Mode: Online
  • Scheme Type: State Government Scheme
  • Official Website: lottery.mhada.gov.in

Procedure: Important Date

  • Online Application (Last Date): 10 December 2019
  • Online payment (Last Date): 10 December 2019
  • List of accepted applications: 16 December 2019
  • Draw Date: Update Soon
  • The applicant can check the result of winner list Mhada Lottery Pune 2019-  Click Here

Read this also- MHADA Lottery 2019-20: Results Declared for Pune Board Lottery

Types of lottery schemes under MHADA

Categories

No of units

Flat price

EWS

63

Under Rs 20L

LIG

126

Rs 20L to 30L

MIG

201

Rs 35L to 60L

HIG

194

Rs 60L to 5.8 Cr

Location wise flat details

Location

No of Flats/Houses

Antop Hills

278

Pratiksha Nagar

89

Gavanpada Mulund

269

Mankhurd

316

Siddharth Nagar Goregaon West

24

MHADA Pune Lottery Scheme 2020 Online application

The office has announced the lottery scheme to provide for under budget housing in Pune. Mhada. Registration for the scheme has started online soon. for check yourself click HERE. Applicants can apply for this till the first 3 months of 2020, and all important dates announced soon.

MHADA Pune Lottery Scheme 2020: Eligibility Criteria

To check your eligibility criteria for MHADA Lottery Scheme 2020, you must fulfill all the below-mentioned criteria:-

  • The age of the applicants must be above 18 years.
  • A Certificate of  Domicile.
  • If the applicant’s monthly income is between Rs 25001-50000. He can apply for LIG flats.
  • If the applicant’s monthly income is between Rs 50001-75000. He can apply for MIG flats.
  • If the applicant’s monthly income is between Rs 75000 or above. He can also apply for MIG flats.

Allotted Flat types and Categories

Categories

Allotted Flats

For EWS

63

For LIG

126

For MIG

201

For HIG

194

Applicant’s Monthly Income

Categories

Monthly Income

LIG

Rs 25001-50000

MIG

Rs 50001-75000

HIG

Rs 75000 or above

How to apply for the MHADA housing scheme 2020?

You can apply for the MHADA Housing Scheme 2020 in 5 simple steps whose mention below.

  • Visit the MHADA official website
  • Click on Register
  • Fill the form with your details
  • Create the Login user name and password
  • Click on Submit

MHADA Housing Scheme 2020: Documents required

If you participate in the Mhada Housing Scheme 2020, you must have the below-mentioned documents list:

  1. Domicile certificate
  2. School leaving certificate
  3. Passport
  4. Birth certificate
  5. Driving license
  6. Voter ID card
  7. Aadhaar card
  8. PAN card

Recent Projects under MHADA

The Housing Projects are coming on the following given locations:

  1. Sahakar Nagar Chembur
  2. Shastri Nagar
  3. Chandivali
  4. Powai
  5. Ashokvan

MHADA lottery Pune 2020 Important Contact details

Mhada Lottery Helpline Number- 9869988000, 022- 26592692, 022- 26592693

For more details click on the website (lottery.mhada.gov.in)

Can the Applicant sell the MHADA flats Pune?

Yes, an applicant who will win the MHADA flats can sell their flat after 6-years of purchase.

What is the procedure to seek application for MHADA Housing Scheme 2020?

Procedure to seek application for MHADA Housing Scheme 2020:

  • Visit the official website of MHADA (https://lottery.mhada.gov.in/)
  • Register urself and create an account
  • Enter all the details with the mobile no and generate OTP
  • Verify your mobile no to confirm your registration
  • Now select the MHADA Lottery Scheme for which you want to apply
  • Fill the details appear on the screen with all the required details
  • Upload the documents as listed above in JPEG format
  • Submit the application form and make online payment

How to check the MHADA Lottery Result online?

Procedure to check MHADA Lottery Result 2020:

  • Visit the official website of MHADA (https://lottery.mhada.gov.in/)
  • Under the Homepage, click the “Lottery Result” option
  • Click view option
  • Again click view option as per your scheme code and category
  • A PDF file will appear on the screen with winner name and flat number

What is the procedure to check the MHADA Lottery waitlist?

  • Visit the official website of MHADA (https://lottery.mhada.gov.in/)
  • Under the Homepage, click the “Lottery Result” option
  • Click view option
  • Scroll the page and waitlist will show after winner list
  • Again click view option as per your scheme code and category
  • A PDF file will appear on the screen with winner name and flat number

MHADA Lottery 2020 Refund Policy

For unsuccessful applicants, the authority will initiate the refund process within 7 working days of the draw date. In the case of the Pune Board Scheme, MHADA will start refunding application money to all the unsuccessful candidates of the housing scheme from 20th November 2019 onwards. And the process may run till the end of the month.

How to check the MHADA Lottery refund status?

  • To check MHADA Lottery refund status:
  • Visit the MHADA official website (https://lottery.mhada.gov.in/)
  • Furnish certain details like application number or year of the lottery
  • After entering the correct details, you will be redirected to a page having a section where you can check the refund status.

Image Source: Addressofchoice

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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.

 

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How to Check Land Records Online In Karnataka?

Jan 8,2020 / By / No Comment
Bhoomi Karnataka

Online Land Conversion brought necessary transparency and accountability in the procedure and curb delays and corruption in the system. Karnataka has been at the forefront ever since the launch of this scheme. It is the first state to digitize all its land records under the Bhoomi project.

Bhoomi: An aid to Digital India campaign

In a bid to bring transparency and accountability in the property-related activities, Karnataka’s Revenue Department has brought all the land record activities online. “Bhoomi” is a project jointly funded by the Government of India (GoI) and the Government of Karnataka (GoK). It is a flagship project started by Karnataka State Government to maintain Land Records. This land record management system was introduced in 2000. It uses advanced online technology for land management under which all the manual Record of Rights (RTCs) which are examined at the time of data entry were digitized and made available to the citizen through Kiosk Centres. All the ownership or any other changes in the Record of Rights (RTCs) are executed through mutation as per the Karnataka Land Revenue (KLR) Act using the Land Records database.

For the convenience of the citizens, Bhoomi offices have been set in over 175 taluks and 6000 Gram Panchayats of the state. In each of these centers, LR Kiosk & Application Kiosk have also been set-up. Any citizen or farmer can directly walk into one of these offices and apply for an RTC by providing the required documents. An individual can also check the status of his/her application in these centers by using the acknowledgment number.

Bhoomi Portals offers a list of services managed by the Government of Karnataka:

  • List of New Taluks
  • i-Record of Rights, Tenancy and Crops (i-RTC)
  • Mutation Register
  • Kodagu Disaster Rescue
  • RTC
  • Mutation Extract
  • RTC Information
  • Tippan
  • Revenue Maps
  • Mutation Status
  • Registration of Citizen
  • XML verification of RTC
  • Citizen Login
  • Register of Dispute Cases

Also, to make the land conversion procedure easier and smooth, the Karnataka government has started the online process to convert agricultural land into non-agricultural land for commercial use after paying a nominal fee. This move will undeniably improve the state’s ease-of-doing-business and make the land conversion system hassle-free.

Process of registering yourself at the Bhoomi Portal?

In order to avail of the services offered at Bhoomi, you will be required to register at the Bhoomi Portal before login. Below are a few useful tips for registration:

Step 1: Visit for the official Bhoomi Login page-. www.landrecords.karnataka.gov.in

Step 2: Click the “Create Account” icon to redirect you to the Sign-up page

Step 3: Enter the required details along with the Captcha Code

Step 4: Click on ‘Submit’ to register yourself at the Bhoomi Portal

One can effortlessly log in to the Bhoomi Portal and download the appropriate deeds within a few minutes! Below is the step by step-by-step process to assist you to download your property papers.

How to check/view Karnataka Land Records online?

To view the Karnataka land records online, one will simply have to login to the Bhoomi Portal and follow the step-by-step process-

Step 1: Log in to www.landrecords.karnataka.gov.in

Step 2: Under the projects tab, click on ‘Bhoomi’

Step 3: Under services, click on ‘Citizen services’

Step 4: Next click on ‘RTC’

Step 5: Enter your details such as name, mobile no, email id, and Aadhar card number

Step 6: Enter land details such as district, taluk, hobli, village, survey number, surnoc, hissa number, and validity period of RTC.

Step 7: Click on ‘view RTC’ or ‘Pay & Download’ option

Step 8: Pay via your credit card/debit card/internet banking

Step 9: Download the PDF format and take a print out

Apart from Bhoomi, the revenue department of Karnataka has designed several other projects for the benefit of citizens. Some of them are CLWS (Crop Loan Waiver System), Parihara, Name match algorithm, and the Dishaank app.

Government of Karnataka to link lands digitally

One of the principal upcoming projects of the Karnataka Govt. is a drone-based survey that will be conducted across various districts of Karnataka. The Government of Karnataka has signed an agreement with the Survey of India in this respect. It is one of its kind movement, initiated by the state government at a cost of Rs 125 crore.

The project intends to update the RTC or Pahani (RTC) and link the lands digitally i.e., geo-reference them. Phase 1 of the project is supposed to be achieved within a time-frame of two years. Bengaluru, Ramanagara, Belagavi, Uttara Kannada, Hassan, and Tumkuru districts will be covered under Phase 1. Gadag, Mysuru, Dharwad, Dakshina Kannada, Kalaburagi, Davanagere, Kodagu, and Vijayapura are supposed to be included in the next phase.

Is there any benefit of Bhoomi Portal for farmers?

Yes, the Bhoomi Portal has proved to be a useful guide for farmers to avail of land-related documents and records throughout the years. The portal offers services to farmers to avail necessary documents such as:

  • Land records copy could be used by farmers later for applying for loans or any other purposes.
  • By giving the plot number or the name of the landowner, a copy of RTC can be easily taken.
  • To adjust land records in case of sale or inheritance of land, mutation requests can be used by farmers.
  • For protecting crops or claim insurance, crop data in the i-RTC can be used later.
  • The portal also gives farmers access to check the application status of mutation requests.
  • For land-related disputes, a farmer is required to submit land dispute documents at courts. In this situation, he can easily avail of the necessary documents from the Bhoomi Portal.
  • A farmer can request another inspector/controller at the Taluk level if the revenue officer fails to approve the mutation request in 50 days, to complete the request.

What is RTC? Which all information a landlord can get from RTC?

The RTC (Record of Rights, Tenancy and Crops) is also known as Pahani. It is an important land record in Karnataka that is issued to the existing landowner. The documents include the owner details and all the land-related details such as:

  • Information about the landowner
  • Tenancy
  • Area of the Land
  • Type of land
  • Water Rate i.e. how much of water is to be utilized to keep the land
  • Identification of soil type
  • Crops are grown on the land
  • Commercial, agricultural and non-agricultural residential flood area
  • Nature of possession
  • Liabilities such as bank loans on the land

How to register land in Karnataka through Bhoomi Portal?

Mentioned below are a few steps that are required to register land under Bhoomi Portal in Karnataka:

  • First of all, an individual must buy stamp paper and keep all the documents handy
  • Submit the required documents to the Sub-Registrar in charge of that particular jurisdiction
  • After verifying these documents, the individual will have to pay a fee for registering the land
  • A receipt for registering the land will be given to him/her
  • The photo of the individual will be taken at the same time
  • Verbal approval between the buyer and seller will be required, along with a witness
  • After registering the documents, a unique registration number will be assigned to this document
  • Once the registration process is complete, the rural land sale information is passed on to the Patwari for adding the entries in the Jamabandi register, which is the Record of Rights.

Karnataka Land records recent updates

  1. In February 2019, Karnataka formally inked an agreement with the Survey of India to conduct a technology-driven, drone-based survey.
  2. In October 2019, Karnataka Govt’s partnership with the Survey of India decided to link land records to digital maps.

Image Source: Onlineyojana.in

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AMRUT Mission: Only 15% Funds Utilised In Last 4 Years

Aug 28,2019 / By / No Comment
Amrut-Mission

AMRUT Mission: Only 15% Funds Utilised In Last 4 Years

  • Before moving ahead on the project issues, I would like to figure out some information on AMRUT. The AMRUT was launched by Prime Minister Narendra Modi on June 2015 in 500 cities across the country, covering about 60% of the total urban population.
  • Looking forward to this, the BJP-led NDA government under Prime Minister Narendra Modi has launched 3-major urban flagship schemes in 2015. These are  Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and the Pradhan Mantri Awas Yojana-Urban (PMAY-U) to enhance the infrastructure of Indian cities. The project was accepted and honoured by the industry experts, and if accomplished with a will, the mission could change the appearance of cities and towns where even basic facilities are lacking.
  • With the Budget 2019 that brought bundles of packages for these schemes. But the government still lagging behind its targets, development in the sector remains shadowy.
  • However, even after 4-years of its implementation, out of the total budget, only 15% fund has been used according to the data provided by the Ministry of Housing and Urban Affairs. Around 1,885 projects worth Rs 5,075 crore (15% usage of total mission target) have been completed. More than half of the projects are under implementation (cost Rs 62,201 crore).

What Government Data says:

  • As per the Ministry of Housing and Urban Affairs, around Rs, 1,768 crores was allocated for the green spaces and parks sector, and a total of 2,355 park projects costing Rs 1,522 crore was engaged under the AMRUT mission.
  • Along with the completed projects, 990 projects cost Rs 812 crore are under headway.

How Indian Cities Contribute To country’s GDP?

  • Indian cities are more urban than admitted and share between 59% and 70% of India’s Gross Domestic Product (GDP). The three-month-old NDA government in their budget for FY 2019-20 has estimated about 48,000 crore for the ministry of housing and urban affairs which is an 11.8% increase since last year’s budget.

Why Is This Project Legging Behind?

  • AMRUT Cities are experiencing overlook due to unfamed development. Air quality and congestion are worsening, house prices continue to rise, and amenities and services like clean water, public spaces, public transport, and solid waste management are badly unsatisfactory. The local bodies committed to controlling cities do not have sufficient funds, skill, or staffs to plan for and face these difficulties.

How The Funding Is Distributed Among The States?

  • Being a central approved scheme, the funding support is given to the amount of 50% of the project cost in case of cities with a population of less than 10 lakh each and up to 1/3rd in the case of cities with a population of above 10 lakh each. The total cost being Rs 77,640 crore (including central assistance of Rs 35,990), the funds are being issued in parts to the states keeping in mind the developmental work being done. Until now, 14 states which include  Chattisgarh, Tamil Nadu, Karnataka, Andhra Pradesh, Bihar, Jharkhand, Gujarat etc., have received 20% of the budgeted amount under the scheme AMRUT.

After four years of its implementation here is our main findings:

  • While the union budget expenditure on urban development in 2018-19 was the highest ever, as a share of the grand total this had actually declined by 0.2 percentage points to 1.7% of the budget.
  • Barely 7-20% of the central assistance earmarked for the three flagship schemes have been used since their launch, indicating that states remain chronically underfunded.
  • In the three schemes, work has been sanctioned for not more than a 3rd of the set targets which will meet their deadlines in 2019-20 and 2021-22. The number of works actually completed is even lower.
  • Over 1,100 parks developed across the country under Amrut Mission as per the Housing Ministry.
  • According to the housing ministry, more than 4,288 acres of land is being developed as green spaces and parks under the AMRUT mission. Until now, over 1,159 parks have been developed under the mission across the country. These parks have children friendly provisions, disabled-friendly features, open gyms, etc.

Latest reforms on AMRUT:

  • Out of 97,93,386 lakh target, 62,78,571 lakh street lights have already been replaced with LED lights.
  • Energy audit of water pumps has been completed in 358 cities; MoUs have been signed for another 446 cities.
  • The online building permission system (OBPS) has become functional in Delhi and Mumbai. It has also been implemented in 439 AMRUT cities.

Mission Under Progress:

  • Sewerage projects work is in progress.
  • AMRUT Water Pipeline work is in progress.
  • Until now, Rs 5,077 crore has been spent on 1,891 projects.
  • Rs.62,200 crore awarded for 3,133 projects.
  • NITs issued Rs.7,646 crore for 289 projects.
  • DPR approved Rs.6,025 crore for 265 projects.
  • Total State Annual Action Plan was for Rs.77,640 crore.

Focus Areas Of The Scheme With The Budget Output:

  • As AMRUT Mission targets on the basic infrastructure, the following were the target areas of the scheme with the budget output:
  • The centre has spent Rs 9,011 crore on water supply.
  • Rs 1,436 crore spent on Pedestrian, non-motorised and public transport facilities, parking spaces etc.
  • Rs 2,969 crore spent on stormwater drains to reduce flooding.
  • Rs 1,768 crore spent on improving the amenity value of cities by creating and promoting green spaces, parks and recreation centres, especially for children.
  • Rs 32,456 crore spent on sewerage facilities and septage management.
  • For all that AMRUT mission fixed timelines for each of the target areas, some of the states are advancing of the timelines and have completed most of the works like strengthening e-governance policies, digitisation of Urban Local Bodies, the professionalization of municipal bodies, revision by building by-laws, municipal tax and fees and Swachh Bharat Mission which is popular among all.

Suggestion:

  • Indian cities need urgent reform in order to unlock their economic potential and transform the quality of life. So, the NDA government requires to connect on observing the amount of urban growth, enhance land usage, legitimize urban local bodies and spend in public transport networks.

Image Sources: RajRAS

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Incentives To GIFT City in Union Budget 2019 Could Encourage Financial Activities

Jul 13,2019 / By / No Comment
Gift_City

Incentives To GIFT City in Union Budget 2019 Could Encourage Financial Activities

 

Overview:

Gift City, located in the north on the banks of river Sabarmati and is a financial Central Business District between Ahmedabad and Gandhinagar in Gujarat. Gift City (Gujarat International Finance Tec-City) is a business district developed by the Govt. of Gujarat through a joint venture company. It is India’s first operational smart city and International Finance Service Centre is our PM Narendra Modi’s dream to create a financial hub like Singapore or Hong Kong in his home state. The idea for GIFT City was developed during the Vibrant Gujarat Global Investor Summit 2007. East China Architectural Design & Research Institute and Fairwood Consultants India were chosen for the planning of the city. 3 phases of 4 years each is planned for the development of the project. On the other hand, GIFTCL planned to develop an area of 85 million sq ft. to make sure that the city has its world-class facilities for connectivity, technology, communication, societal services, etc. for an upgraded living and work experience. The city is strategically located and well connected to the cities of Ahmedabad and Gujarat which is located at a distance of 26.6 km and 11.2 km respectively via Gandhinagar-Ahmedabad Road and Gujarat SH 71. Features of this project include an underground utility tunnel, a district cooling system, and automated vacuum waste collection. Many of these features are being introduced in India for the first time. Shah Pur, Lavarpur, Ratanpur, Pirojpur, Raysan Valad, Mahavirpuram are its neighbouring localities.

India’s only International Financial Service Centre (IFSC), at GIFT City, Gandhinagar, is one of the most challenging efforts of the Government for making foreign financial transactions to the Indian region. At present, financial sector performers such as banks, insurance companies, insurance brokers, stock exchanges, depositories, mutual funds, alternative investment funds (AIFs), and other SEBI-registered agents are allowed to establish shop at IFSC. Over the past few years, the Government has shifted its minds consistently towards it to make a commercial function for global financial professionals to relocate their operations to IFSC. It will be important to justify the taxation structure in IFSC so that it balances the tax structure in other global financial markets.

In February, the NDA government had presented in Rajya Sabha the International Financial Services Centres Authority Bill, 2019. The Bill plans for the establishment of an authority to support and control the financial services market in the International Financial Services Centres business in Special Economic Zones in India.

 

GIFT CITY IFSC Project Status:

GIFT One Tower in DTA, GIFT Two Tower in DTA, Jamnabai Narsee International School in DTA, TCS Tier 4 Data Centre in DTA, Hiranandani Signature Tower IN IFSC, Aspire One & Two – Incubation Centre in IFSC, Domestic Tariff Area, International Finance Service Centre (Finance & IT/SEZ) are completed and operational.

World Trade Center GIFT City – 4 towers under construction, Janaadhar Mangala, Brigade Tower in IFSC, Brigade IBIS Styles Hotel in DTA, Gift International Center, Savvy ATS tower in IFSC are all under-construction and full pace.

 

Gift City Features:

All the electricity cables will be underground and its power grid will be designed by ABB Groups of Switzerland.

Gas supply to the city will be provided by the existing gas Network of GSPL for gas transmission pipelines.

The cooling system will be provided by District Cooling System in GIFT City which will reduce the operational cost by 30-40% and avoids the capital cost of implementing coolers in each building.

All waste of the city will be treated through plasma gasification which will be automatically sucked through underground pipes.

 

Proposed and Planned Infra under GIFT City:

There is a plan to run a multimodal mix of the transport systems such as MRTS/LRTS/BRTS, etc for both intercity transport (to Ahmedabad, Airport, and Gandhinagar) and Intra-city transport.

They are also a plan to use Walk-to-walk concept between private and public transport.

GIFT City will have its own metro stations.

There is also a design for the use of electric personal rapid transport system in the city.

 

Look at how tax SOPs in the budget 2019 will offer impetus to Indian IFSC at GIFT City:

Union Budget 2019 introduced by Hon’ble Finance Minister Nirmala Sithraman unfolded floodgates of incentives for India’s first IFSC known as Hiranandani Signature located at GIFT city, Gandhinagar, Gujarat. With a view to improving infrastructure and development of a world-class financial hub, some tax benefits have already been given to various businesses operated out of IFSC like Banking and Financial Services, Insurance and Reassurance etc. The Union budget 2019 revealed plenty of extra tax SOPs with an aim to produce a positive environment for Indian as well as global financial service professionals to work from Indian IFSC. The idea is to give much-required incentive to the Indian International Financial Service Centre as a flourishing financial hub competing with the global members like London, Dubai, Singapore etc.

 IFSC international business is around $56 billion holding around $22 billion by the banking and $30 billion by insurance units. Over the next few years, GIFT IFSC alone could add $1 trillion to Indian industry and infrastructure and support to reach the $5-trillion GDP target over the next few years. To reach this challenging target, the Finance Minister awarded lucrative tax relief and a holiday which will bring more competing businesses to be operational at GIFT IFSC.

In her budget speech, Nirmala Sitharaman said that the government will trigger the execution of appropriate law to form an International Financial Services Centre (IFSC) authority that will define an up-to-date regulatory architecture for such world-class financial hubs and government is bound to put all required regulations and infrastructure in place to develop IFSC.

The government has proposed to provide several direct tax incentives to an IFSC. This would include extending income tax waiver of up to 10 years from 5 years, 100% profit-linked deduction under section-80LA in any 10-year block within a 15-year period, exemption from dividend distribution tax from current and accumulated income to companies and mutual funds, exemptions on capital gains to Category-III AIF and interest payment on the loan is taken from non-residents.

Apart from tax aspects, the major challenge includes fixing the uncertainties in the regulatory structure for IFSC and increasing the expertise of doing business. It is expected that these financial year incentives, guided by the establishment of a consolidated financial controller, will definitely contribute the much-needed push for IFSC to become a success in India.

Image Sources: Google

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