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Nagpur Best place for Real Estate Investment

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  • Rajesh Dhote
    started a topic Nagpur Best place for Real Estate Investment

    Nagpur Best place for Real Estate Investment

    One of the fastest growing Tier III cities in India -Future IT and Aviation city - Companies like Boeing, Satyam computers, HCL, Dell, Hexaware, DLF, Ascendas etc. has already finalized their projects. Adjacent to IT SEZ(Wardha Road – NH7) is Proposed International Cargo HUB(MIHAN – Multimodal International Hub Airport at Nagpur, (www.madcindia.org ), which is first and only such kind of project in the country being developed in Nagpur by a joint venture between Maharashtra Airport Development Corporation (MADC) and the Airport Authority of India (AAI). Second Capital and third big city in Maharashtra. Nearby is the new VCA cricket stadium.
    Last edited April 25 2007, 08:46 AM.

  • MANOJa
    replied
    Nagpur Improvement Trust to hold lottery for PMAY houses again

    Addressing a press conference on Wednesday, NIT trustees Bhushan Shingane and Vijay Zalke said out of 4,479 PMAY tenements, only 1,200 had been allotted. File photo

    NAGPUR: Civic agency Nagpur Improvement Trust (NIT) has decided to hold lottery for its tenements built under Pradhan Mantri Awas Yojana (PMAY) as many applicants could not get bank loan during Covid lockdown.

    Addressing a press conference on Wednesday, NIT trustees Bhushan Shingane and Vijay Zalke said out of 4,479 PMAY tenements, only 1,200 had been allotted. “Many people could not get loans, so we want to give them another chance. These houses are located in Wathoda, Tarodi and Wanjri,” they said.

    When pointed out that the very objective of the scheme was defeated if banks were not giving loans to poor for buying PMAY houses, the two BJP leaders said, “It is a central government scheme being executed by NIT. Banks are independent bodies. We can’t influence them.” “Banks should give loans to applicants as the house is the collateral,” said Zalke.

    Other decisions taken in the board meeting include handing over four sewage treatment plants (STPs) in Jaitala area to Nagpur Municipal Corporation, allotting vacant pre-fabricated houses in Nandanvan to needy people, okaying NIT’s 12.5% share for upgrading Government Medical College and Hospital (GMCH) and All India Institute of Medical Sciences (AIIMS), maintenance of NIT gardens etc.












    https://realty.economictimes.indiatimes.com/news/residential/nagpur-improvement-trust-to-hold-lottery-for-pmay-houses-again/78802153

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  • MANOJa
    replied
    Nagpur civic body stops razing 134 illegal buildings after protests and HC stay

    The construction did not have permission from civic body or Nagpur Improvement Trust. The drive, planned on directives of Nagpur bench of Bombay high court, was stopped after the same court issued a stay.
    NAGPUR: Tension gripped Baghdadiya Colony near Baba Farid Nagar on Tuesday morning after Nagpur Municipal Corporation’s anti-encroachment department reached to demolish 134 illegal pucca houses. The construction did not have permission from civic body or Nagpur Improvement Trust. The drive, planned on directives of Nagpur bench of Bombay high court, was stopped after the same court issued a stay.

    “A dharna by residents, led by West Nagpur MLA Vikas Thakre, and a subsequent high court stay order procured by a couple of residents forced NMC to put the action on hold,” NMC enforcement inspector Sanjay Kamble told TOI. “Now, we will initiate action after reviewing the court stay order,” he added. The anti-encroachment department demolished around 15 temporary structures in the locality, he said.

    While hearing four petitions of residents, the Nagpur bench of Bombay HC on Tuesday granted a stay to demolition of their properties by the NMC. While issuing notices to the government and other respondents, the court had kept the issue for final disposal after eight weeks. “There shall be stay to the demolition of the properties in question,” the HC said.

    Sources in NMC told TOI that the matter of illegal constructions of such a large number of pucca houses came to fore after the then municipal commissioner Tukaram Mundhe received a tip off. He was told about a completely illegal three-storey bungalow of alleged mastermind in honeytrap audio clip case Sahil Sayyed in Baghdadiya Colony near Baba Farid Nagar.

    Following Mundhe’s directives the department had demolished Sayyed’s illegal bungalow constructed by encroaching on two 500 sq m plots. Sayyed tried to prevent NMC action and approached the high court, where he had cited the many other illegal properties in the localities in his neighbourhood.

    It later surfaced that almost 134 constructions on the 288-plot layout spread across 16 acres belonging to Sataranjipura Badi Masjid Sanstha were unauthorized, with no permission obtained either from NMC or NIT. Later, the high court directed NMC to demolish all illegal properties within eight weeks.

    Sources said several complaints had been filed with Mangalwari zone about illegal constructions in the locality. The zone officials stayed mum for almost 48 days after the HC order to demolish all illegal constructions. With just eight days left to implement the order, the enforcement team of Mangalwari zone led by assistant municipal commissioner Harish Raut went to demolish the structures on Tuesday. In the past too, despite having all information, the zone had done nothing, sources alleged.








    https://realty.economictimes.indiati...-stay/78402307


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  • MANOJa
    replied
    PWD blames NMC, Metro for debris at KP

    Vaibhav Ganjapure | TNN | Aug 26, 2020, 05:29 IST

    Nagpur: The Nagpur bench of Bombay high court on Tuesday adjourned hearing on Kasturchand Park PIL after respondents, including PWD, filed their affidavits stating that they were following the court directives.

    The PWD, which filed the affidavit through additional government pleader Deepak Thakre, informed that work of compound wall is underway, but work on its remaining portion allotted to MahaMetro is yet to start. It blamed MahaMetro and NMC for failure to remove the debris from the historic ground. Due to heavy rains, removal of debris couldn’t take place soon, it informed, adding there isn’t any encroachment inside the ground.

    The reply filed by PWD executive engineer Janardhan Bhanuse said the NMC had declined to deploy security guard near the heritage structure at the KP. The HC was hearing a suo motu PIL (No 45/2017) on encroachments and neglect of the historic place.












    https://timesofindia.indiatimes.com/...w/77750415.cms



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  • prashant.tiwari1186
    replied
    Not sure what articles you read. Nagpur is not tier III. Infact a Tier II city which is much better than many other Tier II city of same league.

    Leave a comment:


  • MANOJa
    replied
    EOW arrests three realtors in Nagpur for duping investor

    It’s learnt the three realtors had floated a couple of firms and lured several investors promising Rs2.16 lakh annually as returns by cultivating aloe vera at a farmland in Samudrapur of Wardha district.
    • TNN
    • August 11, 2020, 11:00 IST

    NAGPUR: Three real estate businessmen Vijay Shelke, his brother Nischay Shelke and Mahendra Gavai have been arrested by the Economic Offences Wing (EoW) of the crime branch for allegedly duping an investor by over Rs7 lakh. The three have been remanded in police custody till August 13.

    It’s learnt the three realtors had floated a couple of firms and lured several investors promising Rs2.16 lakh annually as returns by cultivating aloe vera at a farmland in Samudrapur of Wardha district.

    The three had claimed that they would produce aloe vera gel and the profit would be distributed among the investors.

    The trio had lured the victim investor to pay for the development and cultivation charges as a part of the investment formalities.

    They had allegedly promised to transfer the land in the name of the victim after the payment, but later did not formalize the deal leading to the registration of the offence.







    https://realty.economictimes.indiati...estor/77476276

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  • MANOJa
    replied
    To widen road by 2 metres, 3.5k trees to be chopped


    Vijay Pinjarkar | TNN | Jul 8, 2020, 04:00 IST


    Yavatmal: To broaden 61km road between Yavatmal-Darwha-Kukta by two metres (6 feet), the public works department (PWD) will cut at least 3,500 shadowy trees aged between 50-100 years.

    Over 100 big trees have already been felled near Jamwadi and Tiwasa villages in the last few days in non-forest area. The base of these felled trees was 5 to 6 feet.

    The existing road is 10.5-metre wide (34 feet) with shoulders and PWD plans to make it 12-metre (40 feet). PWD superintending engineer Dhananjay Chamalwar said, “Yavatmal-Kukta road is being widened under hybrid annuity model (HAM). It was sanctioned four years ago at an estimated cost of Rs280 crore. The decision was taken by my predecessors. I’m just implementing it.”

    A site visit on Sunday found that the two-lane (state highway 282) is already wide and has huge indigenous tree species on both sides, mostly planted during British era. A 10-km forest patch makes the road more picturesque and PWD itself has installed sign boards cautioning people to go slow as there is presence of tigers in the forest area.

    “Though Tipeshwar wildlife sanctuary is around 60km as crow flies from the said forest, dispersing tigers from the sanctuary have made these small fragmented patches their home and road widening will affect them badly. There is no need to widen the road as traffic volume is not so high. Besides, 75km road from Digras-Darwha-Karanja is already being widened,” says Yavatmal district honorary warden Ramzan Virani.

    A Mahagaon youth Rasul Sheikh said, “The patch with huge tall trees acts as powerhouse of oxygen. At no cost, this road should be widened. Only tarring can solve the problem. Earlier, while four-laning NH-361 Wardha-Yavatmal-Nanded road, forest connectivity near Kalamb has already been lost. Tree felling should be done near curvatures only to improve visibility. Last year, I had seen a tiger crossing the road near Umarda forest nursery.”

    Yavatmal deputy conservator (DyCF) Bhanudas Pingle says, “The PWD has not yet submitted any proposal for forest land diversion for road in forest area. The agency will need permission under Forest (Conservation) Act (FCA), 1980. Tree felling is done in non-forest area.”

    The ministry of environment, forest and climate change (MoEFCC) regional environment committee member Suresh Chopne says, “By taking up the work in non-forest area, PWD is creating a fait accompli situation. It did the same thing while constructing roads surrounding Tadoba. The PWD will complete work in non-forest area and tomorrow will blame forest department for delayed permission in completion of the project.”

    “The large-scale tree felling is being done despite Supreme Court saying that contribution of full-grown trees as powerhouses of oxygen should be taken into account. What is the value of oxygen that a tree gives in a lifetime? That is a cost that is ignored. It must be factored in,” says Virani.

    However, Chamalwar says, “We will try to save around 1,500 trees by changing road alignment and not felling trees on one side from where a water pipeline passes to MIDC. Secondly, as suggested by Yavatmal guardian and forest minister Sanjay Rathod, tree transplantation will also be thought of.”

    The superintending engineer said the trees will have to be felled as they fall in that two-metre roadside strip which is part of widening. Locals are for widening the road. Earlier, the proposal was for 30 metres but was reduced.

    Virani says the road cost doesn’t include transplantation or mitigation measures. The expanded road will create a narrow bottleneck in forest patch causing more accidents.

    Ugly Face Of Development

    Government of India is upgrading existing state highway corridors having single lane/intermediate/two lane carriageway to two-lane with paved shoulders/four lane configurations
    Existing road is already a two-lane and is being increased by 6.5 feet for which 3,500 trees will be felled

    In 2015, highways ministry sanctioned over Rs2,800 crore for 800km roads in Yavatmal district, but wildlife mitigation plans in forest areas find no place

    Yavatmal-Darwha road work is part of it. Idea is to boost artery for movement of goods from Chandrapur & Yavatmal districts to Mumbai

    Goods transported are mostly cement from factories in Chandrapur to Akola, Amravati, Mumbai & seasonal crops and agricultural products











    https://timesofindia.indiatimes.com/...w/76843399.cms
    Last edited July 8 2020, 08:23 PM.

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  • MANOJa
    replied
    Nagpur civic body notice to demolish 97 unsafe buildings in 15 days

    Municipal commissioner Tukaram Mundhe on Wednesday issued a public notice warning of action and fine of Rs25,000 in case owners, occupants, tenants of the 173 buildings failed to follow the orders within prescribed time period.
    NAGPUR: With monsoon round the corner, the Nagpur Municipal Corporation (NMC) has conducted structural audit of many buildings and declared 173 as dilapidated and unsafe. Directives have been given for demolition of 97 buildings within 15 days.

    Municipal commissioner Tukaram Mundhe on Wednesday issued a public notice warning of action and fine of Rs25,000 in case owners, occupants, tenants of the 173 buildings failed to follow the orders within prescribed time period.

    As per the notice, 97 buildings have been declared totally unsafe under category C-1 and directed to vacate and demolish. Under category C-2A, there are 25 buildings that need to be vacated and where necessary repairing and strengthening works are to be done.

    Under category C-2B, repair works have been ordered at 35 buildings without vacating them. Minor works are to be done without vacating at 16 buildings falling under category C3.

    The notices to all the buildings have been issued under subsection 1, 2, 3 and 4 under section 264 of the Maharashtra Municipal Corporations (MMC) Act.

    “Rains threaten old and dilapidated buildings, thus risking lives of its occupants, people passing by and adjacent residences. NMC zone offices conducted inspection as per guidelines issued by state government on November 5, 2015 for pre-monsoon activities,” the notice stated.

    Owner/occupant/tenant, and not NMC, will be responsible in case of any incident, as per the notice. “As per section 265 of MMC Act, owner or occupant of the building is responsible for inspecting and keeping the building safe. It is mandatory to get structural audit done for buildings with life of over 30 years from structural engineers empanelled by the NMC. Also, it is mandatory to inform the NMC if any portion or entire building is dilapidated or collapsed,” the notice stated.

    The NMC will give certificate to owners/occupants after completion of repairing works suggested by the structural engineers. For any further details, the interested can contact assistant commissioners. The NMC has also made available disaster management cell with helplines numbers — 0712-2567029, 2567777, 7030972200 and 101.

    TOI on May 8, 2019 had reported that 20,016 buildings across the city are over 30 years old, as per data of property tax department.










    https://realty.economictimes.indiati...-days/76191157

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  • MANOJa
    replied
    Nagpur: Property tax dues over Rs 679 crore as 60% owners default

    The cumulative tax dues, excluding the current year’s property tax demand, have now crossed Rs679.04 crore from 4,36,681 property owners.
    NAGPUR: As many as 60% property owners in the city have defaulted on the Nagpur Municipal Corporation (NMC) property tax in 2019-2020.

    As per the property tax department, of 6,84,750 property owners, only 2,75,480 have paid tax of Rs108.77 crore for the last financial year, while 4.09 lakh residential and commercial property owners haven’t paid their dues of Rs125.19 crore.

    The cumulative tax dues, excluding the current year’s property tax demand, have now crossed Rs679.04 crore from 4,36,681 property owners.

    The department’s data reveals that the biggest number of tax defaulters are from Laxmi Nagar zone where 43,415 property owners owe Rs125.72 crore to the NMC, followed by Nehru Nagar zone (60,659 property owners, Rs120.03 crore arrears) and Ashi Nagar zone (97,153 property owners, Rs102.40 crore dues).

    NMC has taken several initiatives to improve tax collection, especially arrears. The total outstanding arrears have increased to Rs679.04 crore from Rs514.75 crore in 2019-20, which were Rs323.36 crore in 2018-19.

    Sources said the arrears are piling up because of objections and litigations over tax invoices being generated by the civic body. The NMC has made no efforts at the zonal level to resolve the objections submitted by property owners.

    Sources also added that intervention by corporators too was responsible for mounting property tax arrears. “Many times, elected representatives, including office-bearers in the civic body, succeed in preventing the civic administration from taking any punitive action,” admitted a senior official.

    With the civic body’s deteriorating financial situation, sources stressed that the causes for this huge outstanding revenue needs to be addressed urgently and rigorous efforts should be made to reverse the trend of increasing arrears so the dues can be brought to manageable levels.

    Citing an example, sources said in 2014-15, the arrears from property tax stood at Rs130.69 crore, but have grown to Rs679 crore — which is approximately five times over the last six years. Sources pointed out that among the defaulters, big commercial establishments and government offices account for over Rs250 crore dues.

    NMC’s tax department should adopt a two-pronged strategy to reduce such huge dues — focus on optimizing disposal in terms of numbers and allocate development fund on the basis of tax paid in every prabhag, said sources.














    https://realty.economictimes.indiati...fault/75882407

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  • MANOJa
    replied
    Nagpur civic body eyes Rs 261 crore property tax

    Assistant municipal commissioner Milind Meshram told TOI that printing of 7.31 lakh tax invoices for financial year 2020-21 is already on.
    NAGPUR: Facing poor recovery amid the lockdown, Nagpur Municipal Corporation (NMC) will start distributing property tax invoices to citizens from May-end.

    Assistant municipal commissioner Milind Meshram told TOI that printing of 7.31 lakh tax invoices for financial year 2020-21 is already on. All 10 zones will start distribution of invoices from May-end. To encourage early tax payment, 4% incentive is given for payment of property tax for the entire year before May 31.

    The NMC has pegged the current year’s tax demand to Rs261.60 crore from 7,31,421 property owners.

    Meshram said due to coronavirus scare, printing of tax invoices got delayed by a month this year. So, the civic body has decided not to impose penalty on the taxpayers till December 31. “This year, the NMC will not levy any interest for delay in payment of tax in this calendar year,” he said, adding for payment after December 31, a simple interest of 2% will be levied.

    According to the officer, those who pay half-yearly tax after receiving invoices before December 31 will get 2% rebate and those clearing the annual tax at a single go will be entitled to get 4% discount in their general tax amount.

    The NMC’s property tax collection in the last financial year was Rs245 crore. Last year, the NMC had delayed distribution of tax invoices because of non-focus works like Swachh Bharat mission, Lok Sabha and assembly elections. The coronavirus scare is all set to further hit the recovery due to poor financial condition of the taxpayers too.

    Standing committee chairman Vijay Zalke admitted to poor tax recovery by the NMC. “Once the city overcomes the Covid scare, I will ensure that NMC starts focusing on property tax collection and all 10 assistant municipal commissioners will be taken to task,” said Zalke.

    The property tax department has calculated Rs112 crore as current year’s demand from 6.60 lakh property owners, Rs57.19 crore from 65,238 residents, Rs12.12 crore from 3,488 citizens.

    TOI had already highlighted poor recovery due to absence of any punitive action by the NMC. Even in last fiscal, the NMC had managed to recover only Rs123.28 crore of the Rs233.73 crore current demand.












    https://realty.economictimes.indiati...y-tax/75778320


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