MANOJa

NOIDA: The Greater Noida Authority (GNIDA) might be claiming that it is one step away from getting clearance for Master Plan 2021 from the NCR planning board, but there is no end in sight to the troubles of Noida Extension homebuyers. The buyers allege that several developers have been making unfair demands for extra payments. They have been threatening to cancel their bookings if they don't pay up. The buyers plan to gather at the Noida Extension roundabout on Sunday and present their grievances. They want clear guidelines from the developers.

The buyers also claim that several developers have been sending them demand as well as cancellation letters, either demanding extra payments or informing them about cancellation of their bookings on flimsy grounds.

"Several big developers have sent out cancellation letters to hundreds of flat buyers, particularly those, whose initial bookings were affected by the Supreme Court order denotifying land in Shahberi," said Abhishek Kumar of the buyers' umbrella body Noida Extension Flat Owners' Welfare Association. "These developers were supposed to shift the affected buyers to alternative locations or offer them refunds along with interest. As Master Plan 2021 is about to be approved soon, developers have instead started making unethical demands. The developers are now offering us refund cheques, fudging numbers and claiming that we have not paid a part of the due instalments. Hence, they are sending out cancellation letters asking buyers to collect their refunds," he said.

"I had booked a flat with one of the major developers in an upcoming project in Noida extension area. My booking was part of the Shahberi land. After the Court order, I went online and got an alternative flat. The developer, however, did not give any formal receipt in hard copy. Then, in December, I received a cancellation letter from the developer asking me to take my money back since my original booking was rendered useless by the denotification," said Shahdab Anwar, a buyer. "Several rounds of communication with the developer yielded no results and in April this year, the last time I went to the developer's office, I realized that the registration number that I had got online after taking the alternative flat, had been allotted to someone else. While my money is still with the developer, I am clueless about the status of my booking," Anwar said.

"We have made a list of the developers responsible for such practices. We have collated the details of the cancellation letters, demand letters, etc received," Devender Kumar, another buyer.









Builders threatening to cancel bookings: Buyers - The Times of India

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MANOJa

NOIDA: A day after Noida Authority warned of strict action against encroachers, Noida's Administrative Officer conducted an inspection roads and sidewalks in three sectors. He has instructed officers to conduct an inquiry, issue show cause notices and punish allottees encroaching upon areas beyond their jurisdiction. Meanwhile, the Noida CEO has directed officials to fine residents who haven't cleared area roads of construction material.

On Saturday, Administrative Officer Rajesh Prakash, accompanied by work circle officers and officials from departments of water, sewage, electricity, maintenance, health and horticulture conducted a detailed survey of sectors 19, 27 and 15A. Prakash found that the road space was massively being encroached upon and many vacant plots had been occupied illegally. "I have asked the respective work circle officers to immediately fence these vacant plots and free all space belonging to the government," Prakash said.

On finding parked vehicles eating into the green belt in Sector 15A, the AO told the officer concerned to issue a show cause notice to the residents. "If they do not clear the area, an FIR will be registered against them and the cost of the land will also be recovered from the allottees," warned Prakash. A former Noida Authority official was also found encroaching upon space in Sector 15 A.

Authority officials also found construction material and debris strewn on roads. Debris dumped on roads is not only an obstruction to vehicular traffic but can also cause accidents, said Prakash. A few days ago, Noida CEO Sanjiv Saran had given residents three days to remove building material from roads. "Project engineers of the Authority have been directed to remove the material and send the bill to the owner outside whose premises it is found," Prakash said.

If anyone carries out illegal construction, his property lease deed will be cancelled after the premise is sealed, the AO said.










Official inspects roads in 3 sectors, issues show cause notices to encroachers - The Times of India

MANOJa

NOIDA: In a bid to streamline traffic flow between Noida and Kalindi Kunj, the Noida Authority has finally invited the Expression of Interest for the much-delayed elevated road that will run above and parallel to the Shahdara drain. Once complete, the 5.8km elevated road, which will start from the Chilla regulator near Sector 14A and go up till the Master Plan Road-III, will not just decongest Noida, but also reduce driving time into Delhi, Faridabad and Ghaziabad.

According to Noida Authority officials, the tender formalities will be completed within the next 15 days. Once complete, the elevated road will serve as a dedicated fast-access, signal-free corridor for vehicles moving between Noida and Kalindi Kunj and reduce the travel time between Delhi and Noida considerably. The road will be constructed on stilts and each of the carriageways will be of three lanes on either side.

"With Noida caught in a continuous traffic jam due the ever increasing vehicle density, the city desperately needs major traffic solutions. This elevated road will bring great relief for commuters as it will reduce the traffic burden on roads of Sectors 14, 14A, 15, 15A, 17, 18, 38A, 94 and 95 besides Kalindi Kunj," said a Noida Authority official. A smoother access will also be provided to Jhundpura via the Udyog Marg, crossing of Sectors 12-22 and 56 on the Master Plan-I road and the Noida-Greater Expressway via the Master Plan-II road," he said.

The design for the elevated road has been approved by IIT-Delhi and the Authority is currently finalizing the alignment of the project. The project is scheduled to be completed within 18 months from the time when construction work begins.

Starting from Chilla Regulator near the Noida Gate to Kalindi Kunj located on the border of Noida and Faridabad, the Shahdara drain enters the city at Sector 14, 14A and runs along Sector 95 to drain out into the Yamuna below the Kalindi Kunj Bridge. Along the way, the drain flows under bridges located at Udyog Marg, Master Plan-I road, Master Plan-II road and the Noida-Greater Noida Expressway link road via Master Plan Road-III.








Process starts for elevated road along Shahdara drain - The Times of India

MANOJa

NOIDA: In a bid to streamline traffic flow between Noida and Kalindi Kunj, the Noida Authority has finally invited the Expression of Interest for the much-delayed elevated road that will run above and parallel to the Shahdara drain. Once complete, the 5.8km elevated road, which will start from the Chilla regulator near Sector 14A and go up till the Master Plan Road-III, will not just decongest Noida, but also reduce driving time into Delhi, Faridabad and Ghaziabad.

According to Noida Authority officials, the tender formalities will be completed within the next 15 days. Once complete, the elevated road will serve as a dedicated fast-access, signal-free corridor for vehicles moving between Noida and Kalindi Kunj and reduce the travel time between Delhi and Noida considerably. The road will be constructed on stilts and each of the carriageways will be of three lanes on either side.

"With Noida caught in a continuous traffic jam due the ever increasing vehicle density, the city desperately needs major traffic solutions. This elevated road will bring great relief for commuters as it will reduce the traffic burden on roads of Sectors 14, 14A, 15, 15A, 17, 18, 38A, 94 and 95 besides Kalindi Kunj," said a Noida Authority official. A smoother access will also be provided to Jhundpura via the Udyog Marg, crossing of Sectors 12-22 and 56 on the Master Plan-I road and the Noida-Greater Expressway via the Master Plan-II road," he said.

The design for the elevated road has been approved by IIT-Delhi and the Authority is currently finalizing the alignment of the project. The project is scheduled to be completed within 18 months from the time when construction work begins.

Starting from Chilla Regulator near the Noida Gate to Kalindi Kunj located on the border of Noida and Faridabad, the Shahdara drain enters the city at Sector 14, 14A and runs along Sector 95 to drain out into the Yamuna below the Kalindi Kunj Bridge. Along the way, the drain flows under bridges located at Udyog Marg, Master Plan-I road, Master Plan-II road and the Noida-Greater Noida Expressway link road via Master Plan Road-III.








Process starts for elevated road along Shahdara drain - The Times of India

Skye Luxuria

From the year 2007, Indian real estate has jumped from thousands to crores directly in the top locations. In this new era of life, almost every third person is doing a side business of property there. Land is the best asset to have.

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डीएलएफ ने लोढ़ा को बेची मुंबई की जमीन
नई दिल्ली, प्रेट्र : दिग्गज रीयल्टी कंपनी डीएलएफ ने मुंबई की 17 एकड़ जमीन लोढ़ा डेवलपर्स को बेचने का समझौता किया है। यह सौदा 2,700 करोड़ रुपये में हुआ है। डीएलएफ ने वर्ष 2005 में यह जमीन नेशनल टेक्सटाइल कॉरपोरेशन से 703 करोड़ रुपये में खरीदी थी। इस साल रीयल्टी क्षेत्र में हुआ यह सबसे बड़ा जमीन सौदा है। डीएलएफ ने अपने मुख्य काम प्रॉपर्टी डेवलपमेंट पर ध्यान देने की रणनीति की तहत इस जमीन को बेचा है। डीएलएफ ने एक बयान में कहा है कि कंपनी ने ज्वाला रीयल एस्टेट में अपनी पूरी हिस्सेदारी बेच दी है। कंपनी की अनुषंगी ज्वाला के पास ही वर्ली स्थित यह जमीन थी। डीएलएफ के सीएफओ अशोक त्यागी ने बताया कि कंपनी को अग्रिम राशि के तौर पर 500 करोड़ रुपये मिल चुके हैं। यह सौदा अक्टूबर तक पूरा हो जाएगा। यह सौदा निवेश पर रिटर्न के लिहाज से बेहतर रहा। इस राशि का इस्तेमाल कर्ज कम करने में किया जाएगा। डीएलएफ पर फिलहाल 22,680 करोड़ रुपये का कर्ज है। कंपनी ने चालू वित्त वर्ष में 5,000 करोड़ रुपये कर्ज कम करने का लक्ष्य रखा है। त्यागी ने बताया कि कंपनी होटल, रिसॉर्ट और पनबिजली परियोजनाओं को बेचने के लिए भी बातचीत कर रही है। डीएलएफ ने पिछले कुछ साल में होटल, प्लॉट, आइटी सेज, पार्क बिक्री से लगभग 8,000 करोड़ रुपये जुटाए हैं। लोढ़ा ने एक अलग बयान जारी कर बताया कि डीएलएफ से जमीन खरीदने के लिए उसका समझौता हो चुका है। यह अधिग्रहण हाल ही में हुए दूसरे सौदों से लगभग 4 गुना कम कीमत पर हुआ है। इससे कंपनी को फायदा पहुंचेगा। इस जमीन के मिल जाने के बाद हम मिश्रित इस्तेमाल का भूमि विकास कर सकेंगे। इस सौदे से पहले मार्च, 2011 में वेब इंफ्रा ने नोएडा में 6,570 करोड़ रुपये में 151 एकड़ जमीन खरीदी थी।

dainik jagran

fritolay_ps

Realty firm's manager held for fraud

BHUBANESWAR: The crime branch of police arrested another functionary of the dubious real estate firm , Sai Pragati Assets and Properties Private Limited, on Saturday night. The economic offences wing swooped down on Rabi Sankar Nanda, manager of the company in a restaurant at Laxmisagar.


"He was on the run. We will interrogate him to get more clues," said additional SP (economic offences wing) Rajendra Patnaik.


The company allegedly collected more than Rs 100 crores from people either to provide lands on cheaper rates or double their investments overnight. In view of growing public outcry, the police on March 7 had arrested the firm's owner and CMD Debashis Mohanty on charge of firing at some investors, who had mobbed him demanding their money. Two other employees of the firm were arrested earlier following wildcat protests by gullible victims. All of them are out on bail since May, sources said. The company officials were not available for comment.


The economic offences wing has already frozen the company's 14 accounts with more than Rs 2.71 crore deposits.

TOI

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Par panel for fast enactment of law to curb Benami Transaction

New Delhi: Accusing the government of not being sincere in perationalising the earlier law on benami transactions, a Parliamentary Committee has asked it to expeditiously enact a new law making punishment more stringent for the offenders.


In its report on the Benami Transactions (Prohibition) Bill, 2011, the Committee has suggested that there should be specific definition of relevant terms such as 'transaction', 'arrangement', 'trustee' in the new Act.


Benami transaction refers to sale or purchase of a property in fictitious name.


In view of the economic gravity of such transactions, the Committee's report which was tabled in the Lok Sabha today suggested that the provisions of the new Benami Transactions Prohibition law should extend to Jammu & Kashmir.


The Committee also said that to unearth the unaccounted wealth amassed by corrupt public servants, it would be necessary to prune the list of exemptions in the new law.


Although the government had initially enacted the Benami Transactions (Prohibition) Act in 1988, it could not be operationalised as no rules were framed. Later, the government decided to enact a fresh law on the subject.


"The Committee failed to understand as to why the government went into a slumber after promulgation of Ordinance in a hurry and enactment of law to prohibit benami transactions," the report said.


It further added, "The government was not sincere in operationalising the benami law. The Committee would expect that at least now the government will bring in this long overdue legislation with due seriousness and implement it at the earliest."


With regard to maximum punishment under the new law, the report said it should be retained at three years, as in the 1988 Act, instead of two years proposed in the 2011 Bill.


The Committee recommended that the government "review the definition clauses of the Bill, so as to include proper definitions for every relevant term in the Bill itself".


On exceptions in the new law, it said, "Exemptions should be pruned and there should be no exemption other than purchasing property by any person in the name of his/her spouse or unmarried daughter".


The Committee observed that the clause on 'Property held benami liable to confiscation' was silent on its applicability to agricultural land, which is a State subject.


"The Committee desire that necessary clarification may be provided in the enabling Clause, specifying the manner of confiscating the benami property involving agricultural land after examining the constitutional/legal position," it said.


The Committee also suggested that provisions should be incorporated in the new law to ensure that the Income Tax authority and agencies under the Prevention of Money Laundering Act should work in a coordinated manner to check illegal transactions.


It has also made a case for mandatory reporting of suspicious transactions to relevant authorities.


The committee wanted the government to prescribe adequate


checks and balances in the law to prevent the misuse of discretionary powers bestowed on the Initiating Officer so that genuine transactions are not subjected to avoidable harassment.


It further recommended the government to set up an Appellate Tribunal exclusively for speedy disposal of the cases under the proposed Act.

financial express

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Relax building rules to make best land use, says Assocham
New Delhi: As the country has limited land resource, city building rules should be liberalised to allow maximum covered areas in construction of houses and commercial buildings, Assocham President Rajkumar N Dhoot said today.


"Recommendations of the Ashok Chawla Committee on Natural Resources (in this regard) the Floor Area Ratio (FAR) should be implemented," the Assocham chief said in a statement here.


As per the FAR rules, a proportion of the plot size has to be earmarked for open space in the building. The builders have been demanding that this ratio should be reduced. It varies from state to state.


He said several other recommendations of the Chawla panel should also be implemented to ensure that no forcible land acquisition takes place and the farmers are compensated well.


As the committee suggested, a transparent and dependable system of land bank data should be put in place by the government. Besides, a part of the notional gains by the land acquirer should be used for public welfare in the areas.


"Land is a sensitive and sentimental issue for the farmers. But it is a crucial requirement for economic growth and removal of poverty. Some of the models adopted by the states like Haryana have been successful," Dhoot said.


He said farmers would agree for parting with their land if they too gain from the development process.


In its report submitted to the government in May, 2011, the Chawla Committee had made some useful recommendations which, if implemented, can resolve several of the knotty problems confronting the whole issue of land acquisition, Assocham chief said.


"The bottomline should be: win/win situation for the acquirer as also the farmers who is parting with the land," Dhoot said.


One of the most contentious issues relates to the quantum of compensation paid to the farmers. This arises out of a wide difference between the market price of land and the value which is shown in the government records, known as 'Schedule of Rates' (SoRs). The SoRs form the basis for giving compensation to farmers.


As per Chawla panel's recommendation, there should be regular updating of SoRs in line with the corresponding market rates. "Once the gap between the market rates and the SoRs is brought to a minimum, there would be less pressure for allotment of land at the so-called institutional rates," the chamber said.


So far as the national capital of Delhi is concerned, the government committee had suggested an immediate constitution of a regulatory body.

financial express

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'Housing prices in 16 cities rise up to 10.5%'

New Delhi: Housing prices have risen by up to 10.5 per cent in 16 major cities of the country in the April-June period, while only three towns have witnessed a marginal fall, according to National Housing Bank (NHB) data.


NHB 'RESIDEX' tracks the movement in prices of residential properties on a quarterly basis since 2007. The NHB RESIDEX now covers 20 cities.


"Residential housing prices in 16 cities have shown rise in prices in this quarter ended June, 2012 over the previous quarter ended March, 2012," NHB said in a statement.


The maximum increase in housing prices was observed in Pune (10.5 per cent) followed by Bengaluru (8.7 per cent), Patna (8.6 per cent), Ahmedabad (6.4 per cent) and Ludhiana (5.3 per cent).


Housing prices rose by 4.1 per cent in Lucknow, while homes became costlier in Mumbai by 3.7 per cent, Delhi and Kolkatta by 2.6 per cent each, Bhubaneshwar, Bhopal and Chennai by 1.7 per cent each, Surat and Guwahati 1.2 per cent each, and Vijaywada and Kochi by 1.1 per cent each.


However, housing prices declined in Jaipur by 2.6 per cent, Indore by 2.4 per cent and Hyderabad by one per cent, NHB said, adding that prices in Faridabad remained stable.


When contacted, NHB Chairman and Managing Director R V Verma told PTI that "housing prices are largely stable and there is no cause of worry. In the long run also, the prices are moving in a range bound".


Verma said the prices have increased marginally in the 16 cities, which he attributed to local factors like improvement in infrastructure.

financial express