No announcement yet.

Nagpur Best place for Real Estate Investment

This is a sticky topic.

Nagpur Best place for Real Estate Investment

Last updated: September 22 2021
1163 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Nagpur Best place for Real Estate Investment

    Nagpur: Standing committee chairman directs officials to concentrate only on property tax recovery

    NAGPUR: Standing committee chairman Sandip Jadhav directed officials and employees of property taxdepartment to keep aside all works and concentrate only on recovery of property tax for next two months. Jadhav directed the staffers to ensure 100% recovery by March 31.

    Jadhav and chairman of tax consultative committee Avinash Thakre continued zone-wise review meeting of property tax on Wednesday. Review meeting was held at Dhantoli and Hanuman Nagar zones on Wednesday. Meetings of Lakadganj, Ashi Nagar and Mangalwari zones were conducted on Monday followed by Nehru Nagar, Satranjipura and Gandhibag zones on Tuesday. Meetings of remaining two zones— Laxmi Nagar and Dharampeth— will be held on Thursday.

    Jadhav also noted down hurdles being faced by property tax department staffers in recovery of property tax. Staffers have assured to meet the target.

    Corporators and officials of Dhantoli and Hanuman Nagar zones were present in the meeting.

    Source: https://realty.economictimes.indiati...overy/62649992
    Talk TRUE; Talk IREF


    • Re : Nagpur Best place for Real Estate Investment

      Housing projects near Mumbai's Sanjay Gandhi National Park on wildlife board agenda

      As per the agenda of the 13th SBWL meeting, almost 60% of the projects to be cleared are for housing schemes of realtors falling in the vicinity of SGNP in Borivli and Tungareshwar Wildlife Sanctuary in ThaneVijay Pinjarkar | TNN | January 31, 2018, 14:30 IST

      NAGPUR: The State Board for Wildlife (SBWL) meeting on Wednesday, which is to be held after a gap of 16 months, seems to have been called to mostly clear housing and road widening projects by the National Highways Authority of India (NHAI) and Mumbai-Nagpur Super Expressway. The meeting will be chaired by CM Devendra Fadnavis, the SBWL chairperson.

      As per the agenda of the 13th SBWL meeting, almost 60% of the projects to be cleared are for housing schemes of realtors falling in the vicinity of Sanjay Gandhi National Park (SGNP) in Borivli and Tungareshwar Wildlife Sanctuary in Thane.

      Activists are aworried lot as they feel that road-widening projects will hit wild animals if mitigation measures are not announced along with the development plans.

      As per Supreme Court orders, any proposal which falls within the eco-sensitive zone (ESZ) of wildlife parks and which requires environment clearance under the Environment (Protection) Act 1986, and such proposals which fall within 10 km from the boundary of the parks require approval of the SBWL followed by the National Board for Wildlife (NBWL).

      Sources said the chief wildlife warden has recommended most of the projects with a uniform condition of depositing Rs 1 crore for conservation and development of SGNP and Tungareshwar to the projects outside ESZ but within 10 km but 2% of the project cost for those projects falling inside the parks.

      Also, ‘Ghodazari’ in Nagbhid forest range in Bramhapuri is all set to be notified as a wildlife sanctuary. Another crucial issue that will come up for discussion is bamboo flowering expected around 2021, when all the bamboo plants will flower and die, disturbing the ecological balance. The SBWL is likely to give approval to the felling and removal of trees and bamboo from Tadoba.


      Please read IREF rules | FAQ's


      • Re : Nagpur Best place for Real Estate Investment

        Over 3.07 lakh affordable houses to be built in Vidarbha

        It specifies the process of bidding, selection of builder, tender document and agencies that are to work as nodal organization overseeing each of the schemes in 382 citiesRamu Bhagwat | TNN | January 31, 2018, 15:30 IST

        NAGPUR: A successful private bidder executing an affordablehousing project under the Pradhan Mantri Awas Yojana (Urban) is permitted to sell 50% of houses in the scheme at rates of his choice while the rest will have to be sold at the price prescribed by the government agency. A floor space index (FSI) of 2.5 will be the other major attraction for the builder of the project to be implemented on public private partnership (PPP) basis.

        A 64-page government resolution, issued last week, provides detailed guidelines for the project. It specifies the process of bidding, selection of builder, tender document and agencies that are to work as nodal organization overseeing each of the schemes in 382 cities. The PMAY, initiated in 2015, has set year 2022 as deadline for affordable housing for all project.

        Under the scheme, the total number of houses to be built are 19.40 lakh. People booking for allotment of house under the economically weaker section category would get a total subsidy of Rs 2.5 lakh, of which Rs 1.5 lakh will be given by the central government and rest by the state. In Vidarbha, there is plan to build 3,07,831 houses. A major chunk or 1.21 lakh will be in Nagpur district.

        The GR further states incentives shall be given to projects developed under PPP on both private as well as government land: Fees for joint measurement of land under such PMAY projects will be charged at 50% of the prevailing rate. Stamp duty of Rs1,000 only per EWS house will be charged for first instrument executed for the purpose of allotment of residential premises admeasuring up to an area of 30 to the person belonging to EWS category.

        All other subsidies and incentives as per the PMAY (U) guidelines of March 2016 and subsequent amendments shall be given to such projects under PPP including Rs1.5 lakh from the Centre and Rs1 lakh from the state.

        The main highlight is 2.5 FSI shall be given to all the affordable housing projects under this PPP. Projects on land falling in Green Zone /No Development Zone are also permitted with 1 FSI for construction of such affordable housing.

        It also specifies that urban development department of the state shall separately issue a GR for exemption from development charges for projects under the scheme. All the projects are required to adhere to Development Control Rules (DCR), Development Plan (DP), Real Estate (Regulation and Development) Act 2016 and Rules and Regulations made thereunder. The projects should be registered with MahaRERA.

        The prices of 50% of the houses constructed under this scheme shall be fixed as per the prevailing pricing policy of Maharashtra Housing and Area Development Authority (MHADA). For the rest 50%, the selected bidder is permitted to fix the prices.

        If at any particular location the proposals received from multiple private parties exceed the demand registered for that location, then the private party which is willing to price maximum percentage of dwelling units (over and above 50%) as per the prevailing pricing policy of MHADA shall be selected as final bidder. In such case, the selected bidder can sell rest of the dwelling units in open market.

        One of the most important points is there is no involvement of the selected bidder or government for the maintenance of the units after the transfer of units to the allottee. Maintenance, therefore, is the responsibility of the beneficiaries.

        Please read IREF rules | FAQ's


        • Re : Nagpur Best place for Real Estate Investment

          About 11,000 structures to be razed for Nagpur smart city development

          NAGPUR: As many as 11,000 structures on 25,000 properties across 1730 acres in four areas of Bharatwada, Punapur, Pardi and Bhandewadi in east Nagpur will be demolished for area-based development under the Smart City project. NMC will rehabilitate the affected owners, said a senior Nagpur Municipal Corporation official. “The civic body will try to protect most existing structures,” he told TOI.

          NMC, through an Ahmedabad firm HCP Design and Planning Cell, has already prepared a town planning (TP) scheme. A hearing of property owners has been convened on the scheme on February 8 at 12 noon at Bhawani Mata Mandir hall in Pardi.

          “The actual work of Smart City project in Nagpur city will start from April 2018 and the deadline to complete 24 different works will be June 2019,” the officer said. NMC is expecting around 600-700 property owners to attend the meeting.

          According to the officer, under the area-based development, the main works include construction of 55 km roads, laying water and sewer lines besides providing health, education facilities, setting up of recreation facilities like playgrounds etc. The cost of first phase is around Rs 995 crore.

          For this, NMC has a corpus of Rs 387 crore which includes Rs 143 crore from state government, Rs 194 crore from Central government and Rs 50 crore from Nagpur Improvement Trust, said the officer. He added that by March-end, NMC hopes to receive Rs 100 crore and Rs 50 crore from both Central and state governments. Besides, NIT will also release its remaining share of Rs 50 crore before the end of this fiscal.

          In the next fiscal, NMC is expected to get the remaining share of Rs 196 crore from Central, Rs 52 crore from state and Rs 150 crore from NIT, respectively.

          Source: https://realty.economictimes.indiati...pment/62752685
          Talk TRUE; Talk IREF


          • Re : Nagpur Best place for Real Estate Investment

            NMC, Neeri, RTO plan to curb air pollution could cost Rs38,016 cr

            Proshun Chakraborty| TNN | Feb 3, 2018, 03:35 IST
            Nagpur: With a view to curb rising pollution in Nagpur city, Nagpur Municipal Corporation (NMC) is tying up with National Environmental Engineering Research Institute (Neeri) and Regional Transport Office (RTO). Neeri has suggested templates for development of an action plan to control air control, which would require approximately Rs38,016 crore.

            NMC chief engineer Vijay Banginwar told TOI that the action plan will be prepared in line with directions from the Maharashtra Pollution Control Board (MPCB). He said the plan will take help of all government agencies, including state's public works department, Nagpur Improvement Trust (NIT), National Highways Authority (NHAI), district collector's office, traffic police department, MPCB and MSRDC.

            Neeri's senior principal scientist and head of Air Pollution Control Division Padma Rao, senior scientist Sangita Goyal, NMC city engineer Manoj Talewar, executive engineer Aniruddh Chauganjkar, assistant regional transport officer Subodh Deshpande, NMC deputy engineer RW Raut and other senior officials attended a meeting to discuss measures to be taken to curb air pollution. Under the action plan, NMC proposes to take help of CCTV cameras installed under Smart City Project to identify vehicles creating air pollution. Such vehicles will be penalized.

            Banginwar also said NMC can use LED screens installed at many busy junctions to create awareness.

            Adulteration in fuel is also one of the main reasons of polluting vehicles. Detailed action plan to prevent such pollution will be needed, Banginwar stressed. Another reason for rise in city's pollution is slow progress of ongoing development works, including cement road and flyover works. The delay is causing frequent traffic jams, which is leading to air pollution.

            Another major factor in air pollution is non-synchronization of traffic signals. Neeri scientists said if signals are synchronized, vehicles would not stop at intersections and thus there would be lower air pollution. According to the Neeri's study, pothole free roads can also contribute to reducing city's air pollution.

            Other measures suggested include regular check and control on burning of municipal solid waste, and designated parking to reduce traffic congestion.

            It was also decided to promote battery operated vehicles like e-rickshaws, e-cars and also use of ethanol-run city buses, said Padma Rao. She said a review meeting on the action plan will be convened after 15 days.

            Please read IREF rules | FAQ's


            • Re : Nagpur Best place for Real Estate Investment

              Architects to get sanction power for small plots up to 200 sq m

              TNN | Feb 2, 2018, 21:25 IST
              Nagpur: Sanjay Bangale, chairman of PWD consultative committee of Nagpur Municipal Corporation (NMC), has directed the town planning department to give architects power to sanction open plots up to 200 sq m.

              The directives were issued on Wednesday following a thorough review by the committee of the various lands in the city. The aim behind the exercise is to provide better and transparent transaction system.

              In addition, the committee also reviewed the various plans sanctioned by the town planning department in the current financial year and the income generated in the procedure.

              Around 730 plans were submitted to the town planning department and only 230 were given green signal. The department has earned income of around Rs72.82 lakh in the process and expects to generate Rs90 crore until March end. The department had generated revenue of Rs105 crore in the 2016-17 financial year.

              Also, TDR was issued for 10 plots during the current financial year. Discussion was also held on bettering the schemes and policies in this regard and their proper implementation.

              Bangale also directed officials to ensure that banners put up near small trenches dug on roads should also mention date of completion and other relevant details.

              Please read IREF rules | FAQ's


              • Re : Nagpur Best place for Real Estate Investment

                2 grounds may turn into residential plots

                Anjaya Anparthi| TNN | Feb 3, 2018, 03:30 IST

                Nagpur: The Nagpur Municipal Corporation (NMC) has started the process to convert two playgrounds into residential areas, at Samata Layout in mouza Ambazari, and Friends Colony in mouza Borgaon in West Nagpur. Total area of the two playgrounds is 3,990 sq m (42,932.40 sq ft), almost as large as Abhyankar Nagar garden.

                The NMC general body will discuss and take a decision on the proposal for the playground at Friends Colony on Saturday. The proposal says NMC town planning department had sanctioned building plan for commercial purpose on this playground measuring 1,289.48 sq m on March 31, 1984, though reservation was for play ground in city's development plan.

                Friends Sahakari Gruh Nirman Sanstha had got sanction for the layout in 1,21,856.60 sq m. Residential use was approved in 70,000 sq m, roads on 30,585 sq m and open space 21,280.60 sq m on December 7, 1981. Open spaces were marked at six places in the layout. One of the open spaces with reservation of playground was 1,289.48 sq m land. After getting sanction of building plan for commercial purpose, the society sold the land to Tekchand Waswani on December 2, 1989.

                Waswani had submitted revision in building plan on August 24, 2007. NMC town planning department rejected the application citing land was reserved for playground on September 21, 2007. Claiming the same department had sanctioned building plan in 1981, Waswani submitted an appeal to the state's urban development department. In its order dated April 24, 2015, minister of state for urban development Ranjit Patil stressed the need for an inquiry for sanction given to commercial building on land reserved for playground. He also asked for change in the reservation.

                NMC records show no inquiry was conducted done into the case. However, the town planning department started the process, including public suggestions and objections, on proposal to change reservation. NMC said there were no suggestions or objections received. Then, the department tabled a proposal before the general body, which will be submitted to the government for consent, if approved by the general body.

                In Samata Society case, the land measuring 2,700 sq m is reserved as existing open space. NMC has issued notification on January 24 inviting suggestions and objections on the proposal to change reservation to residential.

                The proposal says Dr Ambedkar Housing Sahakari Gruh Nirman Sanstha had got approved layout from Nagpur Improvement Trust (NIT) on 12,828 sq m land in 1973. The society had complained that NIT reserved 5,224 sq m (40.72%) as open space instead of 25% as per norms. The society had filed an appeal with the UDD, requesting permission to bring into residential use 2,700 sq m land. UDD order dated September 10, 2001 had asked NMC to begin process to change reservation.

                An NMC official told TOI the UDD order with map was not found in the records with NIT or UDD, so the process was delayed. "The society had filed writ petition in the HC that directed NMC to follow the UDD order. Therefore, we invited suggestions and objections. We will submit the proposal before the general body and then UDD after completing the process. It is up to UDD to take a final decision on changing reservation or not," he said.

                Please read IREF rules | FAQ's


                • Re : Nagpur Best place for Real Estate Investment

                  Nagpur: Now, pay property tax on mobile app

                  NAGPUR: Enthused by the growing response to its online facility of paying property tax, Nagpur Municipal Corporation(NMC) will soon launch its mobile app to further speed up the process and encourage more people to carry out online transactions with the civic body.

                  According to tax department data, online payment is gradually getting popular. In 2016-17, the NMC received Rs 7.06 crore property tax through online payment mode. In this fiscal till February 5, it has received Rs 7.59 crore.

                  The NMC wants to encourage more people to pay property tax online. An NMC officer said, “The work on the mobile app for payment of property tax is nearing completion. It will be launched soon. This will enable locals to pay taxes with ease and also reduce the transaction time.” A demonstration of the app will be held on February 8, the officer said.

                  “Another major advantage of the app will be that the property owner can do self-assessment of his or her properties and cross-check with the assessment done by the NMC,” a senior official from the tax department told TOI.

                  The app will have features like calculate property assessment, compare the assessment with the property assessed by the NMC, pay property tax and history. If the owner spots any error or difference in the property tax assessed by the NMC and his/her assessment, one can also generate an online complaint.

                  On being asked about the modes of payment through the application, the officer said, bills can be paid through netbanking, credit cards, debit cards and immediate payment service (IMPS).

                  Source: https://realty.economictimes.indiati...e-app/62832005
                  Talk TRUE; Talk IREF


                  • Re : Nagpur Best place for Real Estate Investment

                    Nagpur civic body set to miss property tax target of Rs 566 crore

                    NAGPUR: M/s Cybertech Systems and Software Limited’s (private firm entrusted with the job of creating a comprehensive computerized geo-enabled property database of 5,31,453 properties to support assessment and consolidation of all revenues for NMC) assessed 2.43 lakh of the 6 lakh properties till the time its tender period was completed in December 2017.

                    NMC is yet to make new plans for appointing private party for assessment of remaining properties and the delay will further worsen its financial condition.

                    The NMC had entrusted the job to the private firm — M/s Cybertech Systems and Software Ltd — in 2015 for the door-to-door assessment of properties and deadline for the firm was of two years. The civic body had also extended its deadline till December end 2017. The motive for the move is Geographic Information system (GIS) base mapping to increase its revenue and to calibrate the identified unassessed properties.

                    The NMC has also completed the integration of 2.43 lakh properties surveyed by the agency.

                    With just 53 days left for financial year to end, the department has generated only 2.16 lakh property tax invoices and of them, it had printed only 1.39 lakh invoices. Until the NMC completes the assessment of remaining properties it will not be able to generate more invoices.

                    Even after 10 months of the current fiscal, the NMC has failed to generate invoices for the current fiscal and this delay would hit its property tax revenue collection target of Rs566 crore.

                    Till February 3, 2018, the tax department has recovered Rs129.04 crore tax. According to data procured from the tax department, the Laxmi Nagar zone has recovered Rs17.98 crore against a target of Rs133.20 crore. Similarly, Dharampeth zone recovered Rs14.22 crore against Rs71.73 crore, Hanuman Nagar zone recovered Rs13.84 crore (against Rs56.02 crore), Dhantoli 10.81 crore (Rs41.82 crore), Nehru Nagar Rs9.99 crore (Rs38.35 crore), Gandhibagh Rs6.70 crore (Rs21.72 crore), Satranjipura Rs8.30 crore (18.15 crore), Lakadganj Rs13.95 crore (Rs72.70 crore), Ashi Nagar Rs9.66 crore (Rs47.45 crore) and Mangalwari Rs15.35 crore (Rs65.11 crore).

                    Standing committee chairman Sandip Jadhav said he has already issued directions in this regard. He, however, failed to reply how the NMC will complete the remaining survey of properties in less than 53 days period for the current financial year to end.

                    Source: https://realty.economictimes.indiati...crore/62833738
                    Talk TRUE; Talk IREF


                    • Re : Nagpur Best place for Real Estate Investment

                      Decide on Sonegaon lake user in 2 months

                      Vaibhav Ganjapure| TNN | Updated: Feb 8, 2018, 10:50 IST During last hearing, the court had asked corporation to decide the mode of compensation to be granted to the owners of water body

                      NAGPUR: The Nagpur bench of Bombay high court on Wednesday granted two months to the Maharashtra government to take a decision on change of user of Sonegaon lake. It also directed the state urban development secretary to grant hearing to all the parties concerned, including the petitioners Prashant Pawarand Toran Harikumar Naidu before arriving at a conclusion. Other parties included lake owners Dr Rekharani Bhiwapurkar and Nagpur Municipal Corporation (NMC).

                      The court's directives came while hearing a PIL (No 71/2015) on civic body splurging crores on beautification and maintenance of the historic lake, despite it being a private property. The petitioners objected to NMC's move to provide compensation to the owners — Dr Rekharani Bhiwapurkar (late Dr Sudha Sutaria was other owner) — based on TDR. In October last year, the NMC's general body passed a resolution for changing lake's reservation, as TDR can't be granted on water body.

                      During last hearing, the court had asked corporation to decide the mode of compensation to be granted to the owners of water body.

                      The petitioners through counsel Avdhesh Kesari prayed for acquisition and conservation of the historic lake citing support from nearby residents of Sonegaonand Sahakar Nagar.

                      Please read IREF rules | FAQ's


                      Have any questions or thoughts about this?