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Nagpur Best place for Real Estate Investment

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Nagpur Best place for Real Estate Investment

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  • Re : Nagpur Best place for Real Estate Investment

    NIT to accept TDR too for extra 30 percent FSI

    Anjaya Anparthi | TNN | Updated: Dec 9, 2018, 12:42 IST

    NAGPUR: In a major shift in policy regarding additional floor space index (FSI) of 30%, the Nagpur Improvement Trust (NIT) has decided to allow plot owners and builders to avail the facility by giving transferable development rights (TDR).

    At present, only premium (payment as per ready reckoner value) is permissible to the avail the facility.

    The NIT board of trustees, in a meeting held recently, has approved the new provision. The resolution will now be submitted to the state government for approval. After the government’s consent, amendment will be made in the city’s development control regulations (DCR).

    The provision of TDR will be available for areas under the jurisdiction of the NIT. It will also come into force in areas under Nagpur Municipal Corporation (NMC) if its general body passes the resolution and submits the same to the government.

    Additional FSI of 30% is proving beneficial for plot owners as well as builders. Even, chief minister Devendra Fadnavis had availed it for his under-construction house at Trikoni Park in Dharampeth.

    As per the proposal tabled before the NIT board of trustees, facility of TDR for additional 30% FSI is being provided to encourage efficient use of land. “NIT and NMC acquire reservation lands. Acquisition of reservation lands is very important for implementation of city’s development plan (DP). Due to financial crisis, it is not possible for the NMC and NIT to pay amount for acquiring the reservation lands. Also, land owners seek TDR surrendering their properties as they cannot develop for their own purposes due to the reservation. TDR market was affected with the provision of additional 30% FSI only on payment of the premium. Facility of submitting TDR in place of premium for additional 30% FSI will boost the TDR market,” the proposal said.

    The provision of paying premium for additional 30% FSI available to plot owners and builders will remain unchanged.

    Pune Municipal Corporation is the first in the state to implement the facility. Following Pune model, the NIT has planned to extend the same in the city.

    NIT trustee and also NMC standing committee chairman Virendra Kukreja said the facility will be introduced in NMC areas if there is any demand. “If the policy is implemented here, it will be a win-win situation for all,” he said.

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    • Re : Nagpur Best place for Real Estate Investment

      No takers for NIT’s Gokulpeth mall plan

      Anjaya Anparthi | TNN | Dec 10, 2018, 03:15 IST

      Nagpur: The Nagpur Improvement Trust (NIT) has received no response from private companies for development of shopping mall planned in place of the existing vegetable market, shops and commercial complex in Gokulpeth despite the land being situated at a prime location.

      The NIT board of trustees, in a meeting held a few days ago, decided to go for fresh tendering process. Accordingly, tender will be floated based on develop, build, finance, operate and transfer (DBFOT) model.

      An NIT official told TOI that only two private companies — SIWL Private Ltd and Galaxy Infrastructure — from the city attended the pre-bid meeting, but did not participate in the bidding process. No other company turned up during the bidding process.

      The NMC had first planned the project in 2004. There were disputes between the NMC and the NIT over ownership of the land. Later, it came to fore that NIT owns the land.

      Chief minister Devendra Fadnavis had also directed the NIT to take up the project following which the civic agency had initiated necessary steps.

      In 2014, the NIT had appointed architect for preparing the design of the proposed mall. Later, the NIT roped in transaction adviser for pre and post tendering process.

      The plan is to develop G+21 floor shopping mall on sprawling 14,205.55 land. The mall will come up on the land where at present vegetable, mutton markets, shops around the market and G+3 floor commercial complex situated on West High Court road exist. Apart from commercial facilities, the NIT will provide proportionate space to its 73 lease holders and NMC’s 223 lease holders in the proposed mall.

      Another major advantage of the mall will be parking facility for 1,000 four-wheelers and 2,500 two-wheelers. The estimated cost of the project is around Rs 400 crore.

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      • Re : Nagpur Best place for Real Estate Investment

        NMC starts removing advt boards, posters from trees

        TNN | Dec 12, 2018, 03:40 IST

        Nagpur Muncipal Corporation (NMC) officials and Green Vigil foundation volunteers remove add boards from the t... Read More

        Nagpur: The Dharampeth zone of Nagpur Municipal Corporation (NMC), in association with its garden department and volunteers of Green Vigil Foundation, on Tuesday launched a drive to remove illegal hoardings, advertisements boards, posters that are defacing trees and other public property.

        Commercial establishments putting up advertisements are also being fined.

        However, the civic body faced resistance from citizens of some localities during the action.

        It was a long-time demand of environmentalists to take action against the damage caused to trees due to advertisements. Recently, Green Vigil Foundation wrote a letter to NMC garden department’s advisor Sudhir Matey requesting removal of advertisement boards from trees.

        The NMC removed e-cart load of flex boards and nails from the trees in the zone during its almost two-hour drive in various roads. The roads included Dharampeth zone office to Gokulpeth Fruits Market road, the one surrounding Children’s Traffic Park, Traffic Park to Dharampeth School Road, Shankar Nagar Square to Bajaj Nagar Square etc

        The civic body removed around 42 illegal hoardings on Day 1.

        Matey told TOI that the establishments putting up hoardings and posters on trees will be punished as per the Maharashtra Prevention of Defacement of Property Act, 1995, and Tree Preservation Act, 1975. After these actions, an FIR will be registered against the violators.

        TOI has been highlighting the issue since long. In the past too, similar action had been initiated but despite actions, advertisement boards and posters continue to be fixed on trees.

        Kaustav Chatterje, Green Vigil Foundation’s founder and green activist, said trees are not meant to be defaced. “When nails are fixed on the bark of trees, it creates a pathway for fungal infection and slowly the tree dies,” said Chatterjee.

        Junior engineer with NMC’s Dharampeth zone PWD, Gajanan Warade, said that fine will be imposed in accordance with the advertising policy of NMC. As per the policy, the NMC can charge a fine of Rs100 per day for small posters and boards. “For big hoardings, we can impose a fine between Rs300 and Rs500,” he said.It was for the NMC and the zones to prevent agencies, traders and educational institutions from using the trees for their advertisement purposes, which affected the growth of trees. The authorities should prevent this kind of anti-environment activities through stern action on a regular basis, failing which, such illegal hoardings will continue to come up in trees, said onlooker Rakesh Sahare welcoming the drive.

        Matey said similar drive will be launched in other nine zones where a team of zonal sanitary officer, deputy engineer of PWD, junior engineers and sanitary workers will be formed to remove advertisements and hoardings.

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        • Re : Nagpur Best place for Real Estate Investment

          Consumer forum slaps Rs 1.10 lakh fine on Nagpur's Jham Builders

          A bench comprising President Sanjay Patil and members — Nitin Gharde and Chandrika Bais — also directed Jham to return Rs2.81 lakh deposited by complainant, Vasant Nagar resident Archana Dahiwade, with 10% interest from December 31, 2013.Vaibhav Ganjapure | TNN | December 12, 2018, 10:00 IST

          NAGPUR: In yet another setback to the Jham Builders and Developers, which allegedly duped hundreds of gullible home buyers, the District Consumer Disputes Redressal Forum here, has slapped Rs1.10 lakh fine on its director Hemant Jham for failure to handover a flat booked by a complainant.

          A bench comprising President Sanjay Patil and members — Nitin Gharde and Chandrika Bais — also directed Jham to return Rs2.81 lakh deposited by complainant, Vasant Nagar resident Archana Dahiwade, with 10% interest from December 31, 2013. Out of total fine, Rs1 lakh are towards mental and physical harassment and Rs10,000 towards litigation costs.

          While delivering an ex-parte judgment, as Jham failed to either reply to its notices or appear before the forum, the judges ruled that he indulged into “unfair trade practices” and “deficiency in services”, as per Section 12 of the Consumer Protection Act, 1986.

          According to the complainant, she had booked a flat by paying Rs51,000 to Jham Builders and Developers office at Kanhaiya City, near Somalwada on Wardha Road in October 2012. The flat scheme was to come up at Mouza Waghdhara in Hingna town.

          She deposited more money in three instalments of Rs1,30,000, Rs60,000, and Rs40,000, on April 24, November 15 and December 31, 2013 respectively. She had planned to take a home loan from the bank for paying rest of the amount, but on June 20, 2017 she came to know that the builder had duped hundreds of customers like her. On further enquiry, she realized that Jham didn’t start any construction activity on the land at Mouza Waghdhara, where she was promised a flat.

          An aggrieved Dahiwade then lodged a complaint before the consumer forumdemanding directives to the builder to refund her amount with 18% interest and Rs2 lakh compensation towards mental and physical harassment.

          Jham however preferred to skip the forum’s hearing, despite receiving the registered notice issued by it. He also failed to present any clarification before the judges. Consequently, the forum proceeded the case ex-parte and came to the conclusion that the complainant had proved her charges made against the builder by producing receipts of payments she made.

          While partly allowing Dahiwade’s complaint, the judges told the builder to complete formalities within a month.

          Last year in June, the city police’s property cell has seized 30 acres land, worth around 40 crore, owned by Jham Builders and Developers at Waghdhara, after receiving complaints from over 400 investors like Dahiwade, who were allegedly defrauded by the builder.


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          • Re : Nagpur Best place for Real Estate Investment

            NMC's fire department declares 132 bars and restaurants unsafe

            Proshun Chakraborty | TNN | Updated: Dec 14, 2018, 09:27 IST

            Representative image

            NAGPUR: The Nagpur Municipal Corporation (NMC) fire and emergency services department has declared 132 restaurants and bars in various parts of the city unsafe for not complying with fire safety norms.

            The highest number of establishments to be served notices by officials for functioning without a no-objection certificate (NOC) from the department are in Sakkardara. Notices were served to 46 establishments in the southern part of the city.

            The fire department said the audit had been going on for more than 10 months and was initiated after the Mumbai fire tragedy last December. A team has inspected almost all restaurants and bars in the city. The officials inspected close to 191 establishments and served notices to them. All the establishments have been given some time to comply with the norms or face closure notices.

            Of them, around 59 restaurants and bars have already started the process of installing firefighting systems, while 132 ignored the notices, said an official. “So, under Maharashtra Fire Safety and Prevention Act, 2006, these restaurants and bars have been declared unsafe,” the officer said.

            Data compiled by the department says there are over 100 bars, restaurants and eating joints under Narendra Nagar fire station. Of which, nine were declared unsafe. Under Civil Lines fire station there are 42 eating joints and 45 bars and restaurants, and of them 29 lack firefighting systems.

            Similarly, of 14 bars and restaurants under Kalamna station, 11 were declared unsafe. Cotton Market too has 11 bars and restaurants declared unsafe. In Sugat Nagar fire station jurisdiction, four are unsafe. Similarly, Lakadganj station has 18 bars and restaurants, declared unsafe.

            “Now, we will approach MSEDCL, SNDL and NMC’s water works department OCW to disconnect power and water supplies of these establishments,” the officer said.

            To a query, the officer said before declaring the building unsafe, the department had issued notices to the owners or occupants of the building to comply with firefighting norms. Once a reply to the notice is received, and based on action taken, the department proceeded to declare the buildings unsafe.

            An inspection of 3,635 high rise buildings by the fire department this year had found that around 73% high rise buildings, including hospitals, do not comply with basic fire safety measures. TOI has highlighted these major violations on several occasions.


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            • Re : Nagpur Best place for Real Estate Investment

              AFD submits DPR of Nag riverfront project

              TNN | Dec 14, 2018, 01:03 IST

              Nagpur: The Nagpur Municipal Corporation’s ambitious Nag river rejuvenation plan received a boost on Thursday as the Agence Française deDéveloppement (AFD) — French Development Agency — has completed draft of riverfront development plan of Nag river and submitted the DPR of Rs1,600 crore to municipal commissioner Abhijeet Bangar.

              Later, AFD will also provide funds for the plan. “The French team was campaigning in city for the last four days and presented a seminar on riverfront development plan. “The NMC had prepared a concept plan of the project and after several visits and inspecting the river, the France agency prepared a draft detailed project report of Nag riverfront development project,” a senior official from the Nagpur Municipal Corporation told TOI.

              Under the riverfront development project, both sides of Nagpur river will be beautified and areas near the river as tourist and recreational places. Spots like temples, gardens etc situated on the river’s banks will also be re-developed.

              “Now, AFD will finance the project as it has already prepared the DPR,” said the officer.

              TOI was the first to report on October 29 about AFD preparing DPR of the plan and also funding it. AFD is likely to provide Rs1,054.58 crore (140 million Euros) of total estimated project cost of Rs1,600 crore. The AFD has also provided technical support for preparing master plan of the project.

              In August this year, the NMC’s Nag pollution abatement plan too received a boost after Japan International Cooperation Agency (JICA) had agreed to fund 85% of the Rs1,252.33 crore project.


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              • Re : Nagpur Best place for Real Estate Investment

                Oppose blind growth to save nature: Expert

                TNN | Updated: Dec 14, 2018, 10:23 IST By: Bhagyashree Kashyap

                NAGPUR: The rapidly growing society has a humongous challenge of maintaining a balance between commercialist and ecological civilization for which systematic efforts should be made to use natural resources judiciously, said HM Desarda, a renowned economist and former member of State Planning Commission, on Thursday.

                Delivering a lecture on ‘Moral direction of societal development’ at Dada Dharmadhikari and RK Patil commemorative function organized at Sarvoday Ashram, Desarda said, “It was a sad state of affairs that we are treating nature like a pile of resources in this century when we should be working towards creating a more sustainable environment fit for all creatures to live in.”

                Advocate Ashutosh Dharmadhikari, trustee of the ashram and social activist Leela Chitale were present at the programme.

                Desarda said, “We are exploiting nature to our benefit. We have the technology which can be used to make advancements in renewable resources like solar, wind and biofuels. Instead, we are pitting it against countries to establish our power. This consumerist attitude should stop,” he said.

                Desarda spoke passionately about the consumerist society, lack of ethical values in people and plight of the earth. “We say technological advancement equals human race’s development, but we are turning a blind eye towards the fact that such a growth was becoming destructive for nature. Humans are making earth anthropocentric when we should be searching for ways to coexist.”

                “We are increasingly becoming a capitalist and socialist race when we should be making major paradigm shift to change our lifestyle. We mistake growth for development which, in reality, is an antithesis,” Desarda said.

                He termed the recent shooting of T1 tigress Avni as an extremely sad incident. “We encroached on the tigress’s territory and created a conflict between man and animal. When Avni retaliated, we silenced her. Humans have no right to take away their home in the name of development. Rather, we should find ways to accommodate all species. It is an opposition to blind growth, not blind opposition to growth.”

                He gave examples of Mahatma Gandhi’s reformative ‘Make in India’ campaign and said, “He neither opposed development nor did he fall prey to commercialization. His principles stand tall today which we must bear in mind.”

                “We should educate communities, create awareness about fast depletion of resources. Imbibing ethical value of empathy towards nature can be a start in creating a more inclusive environment,” reasoned the economist.

                Chitale spoke about Gandhi’s core values and belief and said, “This ashram stands at the centre of belief of the Mahatma and, as a society, we need to instill these values in us today more than any other time.”


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                • Re : Nagpur Best place for Real Estate Investment

                  Nagpur: After 71 years, Sindhi Colony residents to get ownership titles

                  Chief minister Devendra Fadnavis will begin distribution of ownership rights at a programme on December 16 at Timber Market, Ghat Road. Union minister Nitin Gadkari and others will be present.Anjaya Anparthi | TNN | December 15, 2018, 17:00 IST File photo

                  NAGPUR: After waiting for 71 years, residents of Sindhi Colony, Khamla, are all set to get ownership titles for the lands on which they reside and carry on their business.

                  Slum-dwellers from eight areas will also get ownership titles.

                  Chief minister Devendra Fadnavis will begin distribution of ownership rights at a programme on December 16 at Timber Market, Ghat Road. Union minister Nitin Gadkari and others will be present.

                  Sindhi Colony at Khamla, and nine slums — Saraswati Nagar, Fakirawadi, Rambagh, Jattarodi, slum behind Kundanlal Gupta Library, Borkar Nagar, Bansod Mohalla, Kafla Vasti, and Imambada-2 are situated in South-West Constituency represented by the CM

                  Ruling party leader in Nagpur Municipal Corporation (NMC) Sandip Joshi said in a press conference on Friday that around 800 people from Sindhi Colony and 1,500 residents of nine slums will benefit. “Sindhi community people were not getting ownership titles for one or the other reasons despite being assured after partition. Earlier, they were asked to pay at the rate of ready reckoner value for their lands. Fadnavis issued a new notification making the process of issuing ownership titles to these people very easy. They will get ownership titles by paying only Rs350. Documents of 123 of the total 800 people are ready. Some people are facing issue of submission of documents since partition, and these will be resolved,” he said.

                  Joshi said people residing in all slums under NMC’s jurisdiction will get ownership titles. “Slum-dwellers who constructed shanties in these nine slums before 2005 are getting ownership titles now. There are another 2,000 slum-dwellers who have constructed shanties between 2005 and 201, and they will also get ownership titles soon. A survey in this regard will soon start,” he said.

                  Joshi said people residing in slums cropped up on Indian Railway land, and properties owned by private parties will have to wait. “We held discussions with some private parties, who are ready to hand over the land to NMC. A proper policy will be prepared to solve the issue,” he said.

                  Joshi said NIT too has started giving ownership titles to shanties on its lands. “There are many slums on NIT lands, so the process will take at least one year,” he said.

                  Joshi said slum-dwellers too are required to pay only Rs350 to get ownership titles. “Up-to-date property tax receipt is a must. Some people have to clear their property tax dues. I have asked the civic chief to look into the issue. The civic chief has powers to waive off interest on late payment. Slum-dwellers can pay dues if interest is waived off,” he said.

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                  • Re : Nagpur Best place for Real Estate Investment

                    Concrete Road Project: Three stretches to remain closed

                    Anjaya Anparthi | tnn | Dec 15, 2018, 22:26 IST

                    Nagpur: The Nagpur Municipal Corporation (NMC) will close parts of three roads for execution of Cement Concrete Road Project Phase-III. After a delay of over one year, the project is all set for execution.

                    Municipal commissioner Abhijit Bangar has issued notification to close down parts of three roads. Left side of road from Krida Chowk to Tukdoji Putla Square in South Nagpur will remain closed between December 20 and March 20. Two-way traffic will be allowed on other side of the road.

                    Similarly, right side of the road from Mangalwari Railway Crossing gate at Nara Ghat (in North Nagpur) via Harijan Colony, Old Jaripatka, Mecosabagh and CMPDI will be closed between December 15 and March 15. Here too, two-way traffic will be allowed from the other side of the road.

                    Left side of road from Chhota Tajbagh to Wanjari Nagar overhead water tank in South Nagpur via Tukdoji Putla will be closed for traffic between December 20 and March 20. Traffic of two sides will be permitted on other side of the road.

                    Under phase-III project costing Rs237.28 crore, 42 roads with a length of 42km in 10 packages will be concretized.

                    Couple of days ago, left side of South Ambazari Road from Mate Square to Shraddhanandpeth Square was closed for traffic for concretization under phase-II. Now, works of phase-I, phase-II and phase-III go on simultaneously.


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                    • Re : Nagpur Best place for Real Estate Investment

                      Metro puts amusement park DPR on hold

                      Ashish Roy | TNN | Dec 16, 2018, 03:24 IST

                      Nagpur: MahaMetro has asked the consultant appointed for preparing the detailed project report (DPR) of international level amusement park on Krazy Castle land to put the process on hold. It was also planning to hold an international contest for designing the park. This too has been postponed. Metro officials said that they were not sure when they would get possession of the land.

                      It seems that Nagpur Improvement Trust’s (NIT) concessionaire Haldiram Foods is delaying the transfer process. NIT has taken a stand that it won’t hand over Krazy Castle land until Haldiram is compensated. The firm has sought Rs162 crore compensation from the civic agency for surrendering the land before end of the lease period.

                      Union transport minister Nitin Gadkari had appointed a committee under divisional commissioner to fix the compensation. The new divisional commissioner Sanjay Kumar had asked Haldiram to submit cash flow statements of past years so that its notional loss in the remaining years could be determined. However, in spite of passage of three months Haldiram has not submitted the documents.

                      When contacted, Haldiram Foods’ director Kamal Agrawal refused to comment on the issue.

                      MahaMetro had sought only a part of Krazy Castle land for building its viaduct. However, Haldiram told NIT that if this land was taken away the park would lose its charm and it would incur huge revenue loss. MahaMetro then offered to take the entire land. Gadkari in a meeting held in late February backed Metro’s stand.

                      According to activist Sandeep Agrawal, Haldiram’s compensation claim of Rs162 crore is highly inflated. He had submitted a detailed statement to the divisional commissioner countering the claims of Haldiram point by point. For example, he pointed out that the company had claimed appreciated value of its assets instead of depreciated one, which is the usual practice. It has claimed that it would have to pay 15 years’ salary to its employees on termination of their services. The usual practice is to pay three months salary.

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