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Real Estate News in Tier II & III Cities

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Real Estate News in Tier II & III Cities

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    Kerala relaxes land rules for title deeds

    In a relief to settlers in highland areas, the Kerala Government has decided to waive restrictions on transaction of farmland held by them as part of the condition for issuing title deeds.

    A meeting of the State Cabinet today decided to take away the restrictive provision in this regard by amending the rules under the Kerala Land Assignment Act.

    Addressing reporters after a Cabinet meeting, Information Minister K.C. Joseph said the ceiling set on such land held by each title holder would also be increased to four acres from the present one acre.

    Scores of settler farmers holding lands in upland areas such as Idukki and Wayanad and other high range areas prior to January 1, 1977, which was earlier set as the cut-off date for assigning title deeds, would benefit from the decision.

    The first phase of issuing title deeds will begin in Idukki later this month, the Minister said.

    The Centre shelved the decision to implement the Kasturirangan report last week, apparently under pressure from States such as Kerala.

    Kerala relaxes land rules for title deeds | Business Line
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    • Re : Real Estate News in Tier II & III Cities

      HI to all,
      I have a land for sale in thanjavur in tamil nadu. It is located in posh area of thanjavur medical college road.
      It comes under the Corporation limit of Thanjavur.
      Interested people can PM me. I can send u pics and video of my land and also i will arrange a site visit.
      I am not a broker. It is my own land.
      Thank you
      Last edited January 7 2014, 10:31 AM.


      • Re : Real Estate News in Tier II & III Cities

        Conversion of leased land into freehold in Ambala
        Selja looks up to Rahul for prompt redress

        Manish Sirhindi
        Tribune News Service

        Ambala, January 15

        With the elections approaching fast, the issue of conversion of several acres of leased out land in the sadar area to freehold properties continues to be a major issue in Ambala.

        The 99-year-old lease is coming to an end within the next few years and would affect more than 6,700 families, which have set up their business on the land and are now uncertain as to what would be their fate after the lease period gets over.

        While the state government has been silent over the issue due to political reasons, Union Social Justice and Empowerment Minister Kumari Selja and a delegation of local Congress leaders took up the matter with Rahul Gandhi seeking prompt redress of the issue.

        The land had been leased out to the occupants during the British rule and they continued to run their respective businesses on the same premises even after independence.

        Maninder Singh, a local resident who occupies a piece of land in the sadar area, which was leased out to his grandfather, said they were now uncertain as to what would be the fate of the lease holders. They had repeatedly taken up the matter with the higher authorities, but the state government had been delaying a decision on the issue as the sadar area was represented by a BJP legislator, he alleged.

        Varinder Singh, another occupant of the leased land, said though there was no legal hassle in converting the leased out land to freehold properties, the government was reluctant to take a decision in this regard.

        Pritam Singh, another lease holder, said most of the occupants were even ready to pay the market rate of the land occupied by them in case these were converted into freehold properties.
        Dil Jawan Hai To Jahan Hai


        • Re : Real Estate News in Tier II & III Cities

          Compensation for landowners revised

          MALAPPURAM: The government has revised the compensation for the land to be acquired for constructing the Angadippuram railway overbridge ( ROB) on NH 213 near Perinthalmanna.

          The work of the bridge was delayed for several months due to the delay in reaching a final decision regarding the compensation amount for landowners. A meeting convened by district collector Biju on Tuesday decided to revised the amount.

          Landowners will formally hand over their consent letter to revenue officials by January 31. Landowners had, in December, refused the initial offer of Rs 3.32 lakh and Rs 2.71 lakh for the two categories of land in the area. A total of 46 cents owned by 40 persons are to be acquired for the Rs 16-crore project.

          Compensation for landowners revised - The Times of India
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            Bhubaneswar Development Authority to 'implode' illegal units

            BHUBANESWAR: The Bhubaneswar Development Authority (BDA) will use 'controlled blast' to raze illegal portions of a building in the city for the first time, more than a year after it announced to use the technology in January 2013.

            The BDA has identified a multi-storey structure at Madhusudan Nagar where it would make use of the 'implosion method'. The method allows razing of illegal portions of a building without harming the authorized parts through use of a detonator.

            Vice-chairman of BDA Vishal Dev on Wednesday wrote a letter to commissioner of police R P Sharma, seeking permission for using explosives to demolish the structure. "You are requested to accord administrative permission in favour of BDA to procure the explosive materials (power gel-90 and electric detonator) and use of the same by its consultant (Sarwate) for demolition of the unauthorized portion of the building (plot 889)," Dev wrote in the letter.

            S B Sarwate, an Indore-based explosion expert, has used the method to raze over 200 buildings in Chhattisgarh, Maharashtra, Madhya Pradesh, Gujarat and Rajasthan, official sources said.

            Secretary, BDA, Srikant Kabi said the agency has made all preparations to execute the technique. "We will decide on the date once police give us permission to use the explosives," he said.

            The BDA has started a drive against illegal structures in the city. Recently, it razed a building at Jaydev Vihar and another at Kharavela Nagar using bulldozers. The state government has identified around 140 illegal buildings in the city.

            Bhubaneswar Development Authority to 'implode' illegal units - The Times of India
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              Shilphata building collapse case: High court grants bail to two Thane Municipal Corporation officials

              THANE: The Bombay high court on Tuesday granted bail to two Thane Municipal Corporation (TMC) officials who were arrested in connection with the Shilphata building collapse case.

              According to sources, deputy municipal commissioner Shrikant Sarmukadam was allegedly accused of accepting a bribe of Rs 50,000 from the builder to allow him to construct the building at Lucky Compound. Assistant municipal commissioner Shyam Thorbole was also arrested for allegedly accepting a bribe of Rs 1 lakh for granting permission to the builder to construct the illegal building. Last month, NCP corporator Hira Patil was granted bail in the case.

              The hearing was scheduled at the judge AR Joshi at Bombay High Court and the judge then granted bail to Deputy Municipal Commissioner Shrikant Sarmukadam and Assistant Municipal Commissioner Shyam Thorbole. Last month the NCP corporator Hira Patil from Shil area was granted bail.

              Sources informed that Thorbole was arrested allegedly for taking bribe of Rs 1 lakh related to construction of illegal building while was arrested on 11th April for taking the bribe to stop the demolition. Sarmokadam is allegedly accused of accepting a bribe of Rs 50,000 from the builder to allow him to construct the building at Lucky compound in Shil area.

              While the High court rejected the bail plea of other accused which include the main accused developer Salim and Jamil, Rafiq Kamdar, Najiruddin Chaudhary and Subhash Waghmare.

              On April 4, 2013, 74 persons were killed and 34 other injured after the illegal building in Lucky Compound came crashing down.

              This incident unearthed the nexus between the builders, civic officials and politicians. The arrests were made after the cops found the builder's diary, in which he had mentioned all the names of the people who he had paid bribes to.holy builder-civic official and political nexus leading to arrest of several officials in the case. The crime branch which took the investigations had then arrested the accused by the sleuths for the crash of an illegal seven-storey building located at lucky compound. The arrests were made after the builder Salim Siddiqui who had reportedly maintained a diary in which he kept a detailed record of the bribes he paid and to whom and the names of the TMC officials and other had figured which led the officials to fall in net of the crime branch.

              Shilphata building collapse case: High court grants bail to two Thane Municipal Corporation officials - The Times of India
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                Coimbatore municipal corporation stumbles upon encroached reserve plot

                COIMBATORE: The city municipal corporation, on a mission to reclaim reserve sites and remove encroachments, has stumbled upon a 12.36 cent reserve site in PM Samy Colony here in Rathinapuri with concrete structure encroachments. The site has been surveyed and uploaded in the list of reserve sites on the civic body's web portal with official remarks that encroachments be removed.

                Ironically, the squatters are not private parties who could be evicted using civic machinery, but a police station, Tangedco assistant engineer's office and the local post office. These function out of three separate buildings at the site that have been rented out to these departments. "We will take procedures to get the land transferred to the city corporation. It is rightfully Open Reserve Space and has to be handed over to the civic body. We are not getting any rent from the property," said S Sivarasu, deputy commissioner, Coimbatore Municipal Corporation.

                The issue was also raised at the corporation council meeting held here on Thursday. Rathinapuri ward No 48 councillor R Prabhakaran pointed out that the civic body should take immediate steps.

                "Some private individuals from the locality are collecting rent from the police, electricity and post office," Prabhakaran added.

                While TOI visited B 15 Rathinapuri police station, police personnel confirmed that the police station was on rent and was shifted to the premises about six years ago. The employees at the TANGEDCO office also said the same but claimed they did not have any information about private individuals collecting rent for the buildings. "I recently joined here in Rathinapuri police station and I am not aware about this matter," said D Suresh, Inspector, Rathinapuri police station.

                Senior officials at the city municipal corporation added that the matter will be brought to the notice of the corporation commissioner but will has to be dealt with carefully as the encroachments were rented out to vital government departments . A senior official with the town planning wing of the corporation added that they will consult their legal department for further appropriate action.

                As per the reserve site survey list of the corporation on its website, the 12.36 cent plot in PM Samy Colony is one among the eight reserve sites surveyed in the ward.

                Coimbatore municipal corporation stumbles upon encroached reserve plot - The Times of India
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                  Lack of civic sense biggest challenge to clean city: GMC

                  GUWAHATI: Guwahati Municipal Corporation (GMC) blamed residents' lack of civic sense as the primary obstruction to keeping the city clean.

                  "We have been trying to make people aware. Community participation is very important if the city has to be kept clean. We can keep on implementing new projects and installing dustbins, but unless people cooperate it will be a waste," GMC commissioner, S Viswanathan, told TOI, adding that the GMC was planning to add more schemes to keep the city clean.

                  GMC started an experimental initiative recently, using 11 compactors in two shifts and installing 200 dustbins as part of a Rs 5.65 crore project. Compactors are capable of carrying three trucks' worth of garbage.

                  "We will add another 200 dustbins, focusing on the primary collection of garbage from residential and other places. The public has to cooperate with us to make the project a success," Viswanathan added. Besides, 1,000 litter-bins will be added to the streets to collect garbage. The GMC will conduct awareness drives, especially among school children. "Cleanliness must begin with kids. If we can make them aware, half the job will be done. We will also use hoardings to spread awareness," Viswanathan said.

                  Lack of civic sense biggest challenge to clean city: GMC - The Times of India
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                    Administrative goof-up impedes Jind bypass construction

                    Fearing non-payment of dues, farmers deny land to government
                    Parvesh Sharma
                    Tribune News Service

                    Jind, February 2
                    Jind residents will have to wait longer before they have smooth traffic on city roads. Reason: The administrative problems have slowed down the construction of the Jind bypass.

                    More than one-and-a-half years after the acquisition of land in 13 villages for the project, the government has paid only six villages. Fearing non-payment, farmers have refused to surrender their land without getting payment in advance.

                    Sources said to construct the proposed bypass from Pindara, Virjav, Baibatpur, Jind, Amarheri and Ahirka villages to the Narwana road, the government has acquired more than 300 acres spread over 13 villages. Though many farmers denied giving their land initially, they agreed when the government offered handsome amounts in return.

                    Details show that in November 2012, the government paid six villages and had fixed the dates for the payment to other seven villages. The District Revenue Officer (DRO) was appointed nodal officer for the process. But before the scheduled date, the DRO was suspended due to some official reasons and since then, no action has been taken to release the payment to the remaining seven villages.

                    “Many farmers have threatened to launch an agitation if the authorities do not pay them at the earliest,” said a government official associated with the bypass project.

                    Farmers have demanded from Chief Minister Bhupinder Singh Hooda to take strict action against the officials concerned.

                    “The government has released the amount. I have joined here some days back and the payments of the remaining seven villages will be released soon,” said Ami Chand Saini, DRO, Jind.

                    Delayed project

                    The government has acquired more than 300 acres spread over 13 villages for the Jind bypass project
                    One-and-a-half years after the acquisition of land in 13 villages for the project, the government has paid only six villages.
                    Agitated, many farmers have threatened to launch an agitation if the payments are not made at the earliest
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                      Riding high on ‘spiritual’ connect


                      Several Tier II and Tier III destinations with a religious connect are attracting buyers and developers and the real estate scene is blooming there

                      The dark clouds of slowdown that have been hovering over the real estate sector in India have cast a gloomy shadow over most urban centres. The Tier II and Tier III cities that were being projected as the growth centres of the future a couple of years back have also suffered a massive slump and most of the developers, who had planned projects in the smaller centres, have put these on the back burner.

                      However, in the midst of this grim scenario in the Tier II and III cities, the cities with a religious connect are the only ones that seem to have withstood the headwinds of slowdown. “There is no major slump in the demand in religious towns. In fact, on the contrary there is an annual increase of 15-17 per cent for such properties”, says R.K Arora, CMD, Supertech, whose group has big-ticket commercial projects coming up in Haridwar.

                      No wonder then that temple towns and religious cities like Haridwar, Rishikesh, Mathura-Vrindavan, Ajmer-Pushkar, Dwarka, Varanasi, Allahabad, Shirdi etc have seen a steady influx of developers and new projects over the past few months. End users looking for a second home as well as investors looking for rental returns and capital appreciation are driving the demand here.

                      The growth drivers

                      Commenting on the factors that are responsible for this steady demand Navneet Bhadla, Director, Brys Group says, “With the rising affluence when people look for a second home they normally opt for a holiday home, and in the Indian context these holy places are the best bet for a holiday home as it serves many purposes, ranging from the need for a holiday home to the potential that these places offer in terms of rental yields”.

                      “Contrary to the notion that youngsters are turning away from religion, the reality is that the noise, tension and insecurity of jobs in cities are pushing them towards these destinations that promise to bring inner peace. They may not take sanyas and live permanently at these places, but they do like to visit occasionally. Those who are financially well-off like to buy a flat or place to stay which could alternatively work as investment option too”, says Kunal Banerji, Group Advisor, Shri Infratech

                      Moreover, the appreciation potential in these places is also very high as compared to that in other cities where the market is already saturated.

                      “The developers also have the added advantage of low capital stakes due to less investment in land and better sales and that too by genuine buyers”, adds Bhadla. This is one of major reasons why many established developers have either forayed into these cities or are planning to do so soon, adds Bhadla.

                      “Besides the local builders several big players are also active in these religious centres in order to cash in on the demand from those looking for a second home close to a religious centre. Sales volumes are good here. For example in Haridwar and Rishikesh many people from Delhi, Punjab, Gujarat and Rajasthan are buying ready-for-use property so the demand is good”, says Sudarshan Negi, a Dehradun-based property consultant who also deals with property in Haridwar and Rishikesh.

                      Platter of options

                      Variety and range are the other factors that have kept the real estate market buoyant in these centres. With demand controlling the supply here, the developers are offering products to suit every pocket. So there are villas and cottages for the affluent, and studio apartments and serviced apartment for those with a limited budget.

                      “The price range that buyers look at while purchasing property ranges in these cities ranges between ~2500 per sq ft. to a higher range of ~4000 per sq ft approximately”, says Neeraj Gulati, Managing Director, Assotech Realty.

                      Talking about the buyer profile in Haridwar Sushant Muttreja MD Cosmic Group, says, “People from Delhi, Punjab and UP and locals working in indistrial units comprise 75 per cent of the investors here and the rest are NRIs”. The demand for affordable properties that assure good rental returns is more here. “The prices are lower here which makes these holy destinations a much sought after buy”, adds Arora. Many developers are offering assured rental returns also to the buyers. According to Ravi Saund, COO, CHD Developers Ltd, his company is offering time-share options for its properties in Haridwar.

                      Those with deep pockets also have a lot to choose from in the form of furnished cottages and villas. Cosmic Group’s ‘The City of Romance’ at Narender Nagar near Rishikesh is one such project that offers cottages, villas, presidential suits and studio apartments with seven-star facilities like theme restaurants, discotheque, spa and naturopathy therapy center, yoga and meditation caves, swimming pool and gymnasium , club and lot more.

                      Project watch

                      Haridwar and Rishikesh have emerged as major realty hubs for end users as well as investors. Among some of the main projects here are :

                      Among the oldest projects is the AEZ Group’s Aloha Rishikesh in Tapovan Village along the Badrinath highway. It was launched in 2005 and possessions have been given to a majority of buyers. Spread over five acres, this project has approximately 200 one and two-BHK units. The original cost of the units was from Rs 24 lakh onwards and according to property consultants operating in the area the resale price now is anywhere between Rs 65 to Rs75 lakh. A resort is also coming up within the project.

                      CHD Developers Ltd has a project — Sri Gayarti Lok Apartments in Haridwar with the Shivalik mountain range on one side and Ganges on the other. The project has been approved by the Haridwar Development Authority and is located on the Delhi-Haridwar National Highway (NH-58).

                      The Cosmic Group recently launched its township project — City of Romance in Rishikesh. It is located at an altitude of 4,500 ft and is 25 km from the spiritual city, on the Rishikesh Tehri-Gangotri-Yamnotri–NH-94. On offer are British style villas of 7,456 sq ft area in G+ 2 floors.

                      The work is also in progress at Antriksh Developers’ 25-acre project — NRI City in Haridwar. On offer are 300 plots and 700 flats located in the SIDCUL complex that houses major companies such as Hindustan Lever, Mahindra, ITC, Havells and the Hero Group. On offer are plots of sizes 120 sq yd to 180 sq yd, priced at ~3,425 per sq ft.

                      Unnati Fortune Group is currently in the process of acquiring land in Haridwar and awaits a few approvals. Its project is spread across 60-70 acres and mainly has 1BHK units of 650 sq ft priced at Rs 24 lakh.

                      Anil Mithas, CMD, Unnati Fortune Group says, “It has been observed that people with religious mindset prefer affordable units in Haridwar but those with the sense of adventure and style prefer luxury units in Rishikesh. We are planning to launch around 120 villas spread across 12 acres priced at Rs 1.5 crore there. This will be launched within a year”.

                      The commersial property scene here too has huge potential. “The kind of brands coming to this region are attracting a lot of people from areas like Roorkee and Saharanpur, which has given a boost to the commercial market in Haridwar”, says Arora of Supertech. The Supertech Group has a commercial projects like Pentagon Mall and hotels like Hyphen and 5-star Radisson Blu in SIDCUL, for which it has a tie up with Carlson Hotels Worldwide.

                      Mathura-Vrindavan is another such destination which has seen realty boom over the past few years. the Shri Group has a large number of projects coming up in the twin cities. These include SHRI Radha Vintage, New Mathura; SHRI Radha Florence, Vrindavan; SHRI Radha Valley, Mathura; SHRI Radha NRI Greens, Vrindavan etc. CHD Developers, Karmayogi group and Pushpanjali Constructions are some of the other major players in this market. NRIs and people from Delhi are the main investors in this area. Prices too are affordable in comparison to those in Delhi-NCR. A ready-to-move in 2BHK flat (1,100 sq ft) is available for around Rs 24 lakh and furnished studio apartments.

                      Shirdi is another such destination. This spiritual epicenter of the saint Sri Sai Baba attracts lakhs of devotees each month and the demand for second homes is growing here. Assotech Realty recently launched serviced residences — Sandal Suites at Shirdi. With an investment of Rs 100 crore, the project is spread over 2.5 acres and will consist of 142 suites.

                      Thus, with a steady supply and sustained demand, the realty scene in these religious centres is likely to remain upbeat in the near future as Shravan Govil CEO, REPL sums it up, “These towns offer good value preposition since real estate prices are much lower then the major metro cities thus attracting the buyers. These homes make the investors connect with the religious towns even stronger besides working out as an investment solution.”
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