Will Bihar be the preferred real estate destination ever?


The real estate in Bihar has lately given some hope of resurgence. People are becoming more aware of their rights (the latest demonstration was their use of voting powers to call for a change of power) and wants to be a part of the developmental boom as in the rest of India. An 'Investment commision' has been formed which will look into facilitating Bihar's development and to promoting it as an investment destination'.

The state is under a process of image building for an investor-friendly state. It promises certain advantages over already developed states in terms of cheap real estate prices, limited labour-related issues and a large educated manpower at nearly one-third the cost compared to Tier I and II cities. However, Bihar is still to go miles before it does some significant improvement in infrastructure, socio-economic backwardness, and law and order.

Will the interests shown by so many of biggies like Tata Group, MaxHealthCare and ICICI translate into actual investment in Bihar?
Read more
Reply
483 Replies
Sort by :Filter by :
  • Centre OKs land transfer for airport building expansion Piyush Tripathi| TNN | Jan 25, 2017, 02.24 AM IST

    PATNA: The Jayaprakash Narayan International Airport of Patna may soon live up to its billing, to a great extent, as an international airport with the Union cabinet chaired by PM Narendra Modi on Tuesday approving a land transfer proposal for expansion of the airport to handle 30 lakh passengers per annum.

    The proposal pertains to transfer of Airports Authority of India (AAI)’s 11.35 acre of land in Patna’s Aneesabad to the Bihar government in lieu of 13 acres of land near the airport. The land near the airport will be used for construction of a world-class two-storey terminal building and development of other facilities.

    The state government has already okayed the transfer of its land to the AAI.

    The new terminal building will have the arrival area on the ground floor and departure lounge on the first floor. It will also have provision for operating six aerobridges for fliers to board flights from the first floor.

    “The Union cabinet’s nod was essential to commence work. We have begun the bidding process for selection of project management consultant, but the actual construction is likely to commence from July,” airport director R S Lahauria told TOI.

    Though the need for airport terminal expansion was being felt for over a decade, talks for the same gathered steam from April last year when Union civil aviation officials, including secretary R N Choubey, held a meeting with state chief secretary Anjani Kumar Singh at the airport. CM Nitish Kumar gave his approval in July last year.

    The first block of the new building is proposed to be developed over the existing location of state hangar which will be demolished after developing three hangars at the Bihar Flying Club nearby, including two for the state government and one for the flying club. After passenger operations are shifted to the first block, the existing terminal building will be razed to make way for the remaining portions of the new terminal building.
    A meeting of airport users consultative committee is also slated to be held at the airport on Wednesday in this regard.

    According to Lahauria, meanwhile, a proposal was also sent recently to the state government, requesting it to make available the land on the airport’s eastern side (towards the Chitkohra ROB) for extension of the runway. Against the length of 2,286m, only 1,954m remains available for flights take-offs because of location constraints.






    http://timesofindia.indiatimes.com/city/patna/centre-oks-land-transfer-for-airport-building-expansion/articleshow/56766317.cms
    CommentQuote
  • Decks cleared for fine if trash dumped on roads TNN | Jan 29, 2017, 02.00 AM IST


    PATNA: Decks have been cleared to impose fine on people for dumping garbage on roads and other public places in Patna.

    The Patna Municipal Corporation (PMC)'s Empowered Standing Committee had taken a decision to the effect at its meeting on January 10. The proposal was put up before the PMC board members, who approved it on Saturday.

    The board meet also approved the constitution of a task force for each municipal circle for collecting fines. While the PMC's New Capital circle will have a 15-member task force, its remaining three circles will have ten members each to collect fines.

    Sources said Rs 100 would be fined from every household while small shops would be fined Rs 200 for dumping garbage in public places. Big commercial organisations will have to cough up Rs 500 as penalty for the offence.

    The PMC board also okayed a proposal to up the charge for door-to- door garbage collection. Individual households will now have to pay Rs 60 per month whereas hotels and marriage halls will be charged between Rs 3,000 and Rs 5,000. Malls and hospitals having more than 50 beds will have to pay Rs 10,000 per month.

    The board also gave its no-objection certificate to the proposed interstate bus terminal coming up at Bari Pahari.









    http://timesofindia.indiatimes.com/city/patna/decks-cleared-for-fine-if-trash-dumped-on-roads/articleshow/56839360.cms
    CommentQuote
  • ‘Stagnant-hit’ realtors rejoice over ‘infrastructure’ status to housing TNN | Updated: Feb 2, 2017, 06.30 AM IST


    PATNA: 'Infrastructure' status to affordable housing and shorter capital gain tax period will provide much-needed momentum to Bihar's stagnant real estate sector, said realtors about the Budget presented in Parliament on Wednesday even as they described it as a potential game changer.

    "Affordable housing is a potential game changer as economically weaker sections and lower income group constitute a large population. Developers working on affordable housing projects will now be eligible for subsidies, tax benefits and access to preferential loan and lower borrowing rates from banks. They will be in a position to pass a lot of these benefits on to buyers," said CREDAI (Confederation of Real Estate Developers' Associations of India)'s honorary secretary Sachin Chandra.

    Capital gain tax period has been reduced from three to two years, which means reduced tax burden for someone who sells a house after two years of purchase. "This will benefit the middle income groups as well as investors. Currently, if a property is sold within three years of buy, the profit is treated as a short-term capital gain and taxed. If the property is sold after three years, it is considered long-term capital gain and taxed less. People would therefore wait for three years for selling a property. However, they can now sell it even after two years," said Builders Association of India (BAI)'s Patna chairman Navendu Thakur.
    The Budget also proposes creation of one crore houses for the poor by 2019 and training to 5 lakh masons by 2022. "States like Bihar face crisis of trained construction manpower. Thus Bihar gets doubly benefited," said Manikant, BAI's former national vice-president.






    http://timesofindia.indiatimes.com/city/patna/stagnant-hit-realtors-rejoice-over-infra-status-to-housing/articleshow/56923012.cms
    CommentQuote
  • Airport expansion: District administration transfers land to AAI TNN | Feb 19, 2017, 12.51 PM IST

    PATNA: Decks have been cleared for the expansion of terminal building at the city's Jayaprakash Narayan International Airport as the district administration has transferred 11.5 acres of land of state hangar, IOC depot and Bihar Flying Club to Airports Authority of India (AAI).

    The transferred land will be used for expansion of the airport and construction of a new terminal building with a capacity to accommodate 30 lakh passengers per annum.

    Patna DM Sanjay Kumar Agarwal informed that mutation of the 11.5 acres of land near the airport was done in favour of AAI on Thursday. "As per the agreement between the Centre and the state government, we have transferred 11.5 acres of land of state hangar, IOC depot and Bihar Flying Club to the AAI which can now initiate the work for expansion of the airport terminal building. We have also asked the AAI to soon hand over equivalent land to us as per the agreement made for this transfer," Agarwal told TOI on Saturday.

    Earlier, the Union cabinet on January 24 had given its nod for transfer of 11.35 acres of land to the state government by way of exchanging equivalent land of AAI at Anisabad.

    According to Patna airport director R S Lahauria, formalities related to physical transfer of land will be completed on February 28. "Now that the district administration has completed the formalities for mutation of land, we have decided to hand them over the equivalent land at Anisabad and take possession of the equivalent land in and around the state hangar on February 28," said Lahauria.

    As per the proposed plans, the first block of the new building will be developed over the existing location of the state hangar. First, the state hangar will be shifted next to Bihar Flying Club and three hangars developed — two for the state government and one for the flying club. After development of the new hangars, the existing state hangar will be demolished. Thereafter, the AAI will develop the first section of the new terminal building on that location. Once the first section of the new terminal building is ready, passenger operations will be shifted to it and the existing terminal building completely demolished. Finally, the AAI will commence construction of the remaining portions of the new terminal building.
    Sources claimed that the AAI has already started the bidding process for selection of project management consultant for preparation of the detailed design and drawings for the extended terminal building. The actual construction works is targeted to begin from July.







    http://timesofindia.indiatimes.com/city/patna/airport-expansion-district-admn-transfers-land-to-aai/articleshow/57226127.cms

    CommentQuote
  • Bihar's Bihta emerges as a real estate hotspot Office-bearers of Patna chapter of Builders’ Association of India (BAI) have claimed that enquiries have lately come from IT firms from Bengaluru for setting up IT parks at Bihta.TNN | March 08, 2017, 11:30 IST

    PATNA: The recent decision of the Centre and state government to commence commercial flight operation from Bihta airbase has come as a boon for realtors and property buyers eying lucrative deals in the industrial township.

    Office-bearers of Patna chapter of Builders’ Association of India (BAI) have claimed that enquiries have lately come from IT firms from Bengaluru for setting up IT parks at Bihta.

    “We have been approached by a couple of Bengaluru-based IT firms, which are interested in setting up IT parks at Bihta. The firms have said they set up IT parks within a radius of 20km around airports and Bihta would satisfy the criterion for the same. Besides, few big coaching institutes have also made enquiries for setting up residential coaching centres near IIT-Patna in order to tap the demand of students,” said N K Thakur, chairman of Patna chapter of BAI.

    He added the decision of road construction department to develop a dedicated expressway for the Bihta airbase has also added to the demand.

    Real estate experts claimed that Bihta is currently one of the most sought after options for property buyers in and around Patna as it has witnessed the facet of development in the recent years for being an industrial and education hub with advent of institutions like IIT-Patna, ESIC hospital-cum-medical college and a number of factories, including those of Molson Cobra and Hero Cycle.

    Several real estate firms are already working on ambitious residential projects, including mini townships spread over several hectares of land with provisions of basic civic amenities like roads, drainage, streetlights, schools and hospitals.

    “Vast expanses of land have been acquired by big real estate firms in and around Bihta in the past few years for executing ambitious realty projects. People started booking plots in big projects such as those related to township development from early 2000 and such projects are now taking final shape. The latest decision of commencing commercial flight operations from Bihta airbase is definitely going to act as a fillip for further real estate development there,” said Sachin Chandra, president- elect of BAI.

    Bihta is in fact set to get three four-lane roads connecting it to Patna. Apart from four- laning of Khagaul-Shivala-Bihta road (dedicated expressway for Bihta airbase), works are also in progress on four-laning of Patna-Buxar NH-30 and Bihta-Sarmera state highway (SH-78).








    http://realty.economictimes.indiatimes.com/news/residential/bihars-bihta-emerges-as-a-real-estate-hotspot/57530327

    CommentQuote
  • Jai Bihar

    Attachments:
    CommentQuote
  • Bihar to notify RERA by April 30 According to sources present at the meeting, once the Act is in place, builders, landowners and constructors will have to get themselves registered with the governmentSheezan Nezami | TNN | April 02, 2017, 09:38 IST

    PATNA: Urban development and housing department minister Maheshwar Hazari on Saturday said the state government will notify the much-awaited Bihar Real Estate (Regulation and Development) Act 2017 by April 30 to bring the unregulated real estate sector under its domain.

    The minister, who held a meeting with officials concerned to discuss modalities for the proposed Act, said, “All residential buildings consisting eight or more flats and having an area of 500sq ft or more will come under the purview of the Act.”

    According to sources present at the meeting, once the Act is in place, builders, landowners and constructors will have to get themselves registered with the government. “Purchase and sale of real estate properties will be allowed only through registered agents, whose licences will be valid for five years,” the sources added.

    Sources privy to the development said all the new projects have to be registered within 30 days of notification of the new rule and the ongoing projects will be given three months’ time for registration. “It will be mandatory for the builders to upload all information regarding their projects on the web portal of real estate regulatory authority. Flats will be sold on the basis of carpet area, and not super built up area, which many real estate agents do to fool the buyers. The super built up area also includes common areas like lobby, stairs and lift shafts,” they added.

    In case the project is delayed, builders, and not buyers, will have to pay monthly interest to the bank concerned. “Builders will also have to open a separate escrow account to deposit 70% of the money collected for the project. They will be allowed to withdraw the amount only for construction purpose. An appellate tribunal will also be formed to the listen to the grievances related to real estate sector,” the sources said.





    http://realty.economictimes.indiatimes.com/news/regulatory/bihar-to-notify-rera-by-april-30/57970140



    CommentQuote
  • Nitish Kumar should act against benami property of Lalu: Sushil Modi SuMo said he has been saying this for the last five-six days that the land was owned by Lalu familyTNN | April 10, 2017, 13:30 IST

    PATNA: Within minutes of the presser addressed by RJD chief to refute his allegations regarding controversial land deal for a mall near Saguna Mor, former deputy CM Sushil Kumar Modi on Sunday said he was happy that Lalu Prasad admitted the controversial plot belonged to his wife Rabri Devi and two sons Tej Pratap Yadav and Tejashwi Prasad Yadav.

    “It’s common knowledge that this is how benami transactions are made in the country. Lalu Prasad knows the trick of the trade. But, I request him to reveal all such land deals or I will do so in coming days,” SuMo said while asking CM Nitish Kumar to remove Tejashwi Prasad Yadav and Tej Pratap Yadav from his cabinet for not “disclosing their businesses and assets” to either the government or the Election Commission. Lalu admitted at a press conference that his wife and two sons are shareholders in the company which owns the plot of land on which a mall was being constructed.

    SuMo said he has been saying this for the last five-six days that the land was owned by Lalu family. “Now Lalu has himself admitted that his sons are involved in the business and since it is not declared by them in their annual declarations before the state government, the copy of which is on the website of Bihar government, CM Nitish should remove Tejashwi and Tej Pratap from his cabinet as he always asks the Centre to take action against ‘benami sampati’,” said Modi.

    “The case is related to Bihar and his two ministers. In this case, the Centre has no role to play. Nitish should act and prove that he is against those who have benami property,” he added.

    In a lighter vein, SuMo said Nitish should appoint Lalu and his family members as the economic advisers to him as the RJD chief can suggest how to invest just Rs4 lakh and reap Rs500 crore in some business. “The mall, when it gets ready, will have a market value of not less than Rs500 crore,” he said.

    The senior BJP functionary said he has checked the balance sheet of Delight Marketing Company. “It has not done any business in Bihar in the last 10 years, except buying the 2 acre plot of land near Saguna Mor. This further makes a strong case of benami property as Lalu family used people from RJD to get kickbacks on his behalf and later transfer the assets to his family to avoid legal scrutiny,” he said.

    SuMo said the land on which the mall is coming up actually belonged to Sujata Hotel Private Limited’s director Harsh Kochar who transferred the property to the Delight as part of thanksgiving exercise. RJD’s Rajya Sabha member and former Union minister Prem Chand Gupta’s wife Sarla Gupta held 70% of the shares in the company at that time. Lalu’s two sons Tejashwi and Tej Pratap were made the company’s directors in 2014 and this is a ‘clear case of benami transaction’, he said.









    http://realty.economictimes.indiatimes.com/news/regulatory/nitish-kumar-should-act-against-benami-property-of-lalu-sushil-modi/58104485

    CommentQuote
  • Bihar govt lowers registration charges on BSHB houses The state cabinet had last Wednesday given its nod for converting leasehold properties of BSHB into freehold upon payment of conversion charges at the rate of 10% of the value of the property as per the updated minimum value.TNN | April 20, 2017, 12:30 IST

    PATNA: Those interested in buying the housing properties of Bihar State Housing Board (BSHB) got another gift from the state government on Wednesday as the cabinet gave its approval for calculating stamp duty and registration fees on the conversion charges for converting the leasehold properties into freehold.

    The state cabinet had last Wednesday given its nod for converting leasehold properties of BSHB into freehold upon payment of conversion charges at the rate of 10% of the value of the property as per the updated minimum value.

    Senior officials said the move was intended to generate additional revenue for the housing board.

    Though individual allottees can get complete ownership of the properties, any development work will have to be done as per the layout plan of BSHB and building bylaws. The properties of BSHB since its establishment in 1982 include 2958.85acres of acquired land in 10 districts and around 11,500 housing units for different income groups.

    The state cabinet also held deliberations on the GST Bill of the central government, which would be tabled in the special session of the state assembly on April 24.

    The GST Bill, which will bring a uniform and single goods and services tax system in the country, has already been approved by the Lok Sabha and Rajya Sabha and requires ratifications by the state governments for its implementation. Bihar is apparently the first state in the country to initiate steps for approving the GST Bill.









    http://realty.economictimes.indiatimes.com/news/regulatory/bihar-govt-lowers-registration-charges-on-bshb-houses/58272899
    CommentQuote
  • Now, poor to get flats for Rs 2,000 per sq ft in Bihar According to the new policy, 15% of the flats in a building over 4000sqm or above of private developers will be reserved for economically weaker sections (EWS) and low-income groups (LIG). The quota will be 50% in government projects.Sheezan Nezami | TNN | May 19, 2017, 11:00 IST

    PATNA: The ‘Affordable Housing and Slum Rehabilitation and Redevelopment Policy 2017’ of the urban development and housing department, okayed by the Bihar cabinet on Tuesday, will help the poor realise their dream of owning a house.

    According to the new policy, 15% of the flats in a building over 4000 sqm or above of private developers will be reserved for economically weaker sections (EWS) and low-income groups (LIG). The quota will be 50% in government projects.

    The two category of people will be charged a flat rate of Rs 2,000/sqft irrespective of the city. That is, flats reserved for these sections under this policy will be made available to them at the rate of Rs 2,000/sqft even in the state capital.

    In EWS flats, the carpet area can vary from 290 to 323 sqft. It will be from 538 to 646 sqft in LIG flats. The EWS buyers will also be provided parking space for a two-wheeler while the LIG buyers will be allotted parking space for two mobikes.

    Applicants with annual income of up to Rs 3 lakh will be categorised as EWS and those with annual income between Rs 3 lakh to Rs 6 lakh will be considered LIG-category applicants.

    A state level sanctioning and monitoring committee headed by the chief secretary will monitor and ensure time-bound completion of the sanctioned projects.

    Among other incentives to realtors, the FAR (floor area ratio) will be allowed to be increased. FAR is the total covered area of all the floors divided by the plot area. Its increase is favourable for the builders as they can increase the area of construction, thereby bringing down the cost of flats.

    Realtor Sachin Chandra hailed the government’s policy. “The real estate market will now expand as it will now attract even those buyers who earlier did not have the purchasing capacity. Increase in FAR will help us construct more flats, but we have to see that there is no cap on the height. Or else, increase in FAR will be of no use,” he told TOI on Thursday.

    The policy also talks of another model under which land will be provided by the government and construction done on public-private-partnership mode. The selection of private developer will be made through open bidding.

    Under this model, the affordable housing area (AHA) will not be less than 75% of the total project area in cities with population of three lakh and above. In cities with population between one lakh and three lakh, the AHA will be 60% of the total project area. In smaller cities, the AHA will 50% of the total project area.

    Sources in the urban development and housing department said the housing shortage in the urban area in Bihar was estimated at 1.19 million by the technical group on housing shortage constituted by the Union government. At least 85% of the total shortage is in EWS and LIG categories.





    http://realty.economictimes.indiatimes.com/news/residential/now-poor-to-get-flats-for-rs-2000-per-sq-ft-in-bihar/58745786

    CommentQuote
  • Centre halts construction of mall tied to Lalu's family It is alleged that the mandatory environmental clearance from the State Environment Impact Assessment Authority (SEIAA) has not been taken for the projectTNN | May 20, 2017, 07:41 IST

    PATNA: In yet another blow to Lalu Prasad, the Union ministry of environment, forest and climate change has issued stay order on the construction of the Delite Mall at Saguna Mor in Patna. The mall is coming up on a two-acre plot owned by Lara Projects Limited Liability Partnership, an alleged shell firm run by the RJD chief’s family.

    It is alleged that the mandatory environmental clearance from the State Environment Impact Assessment Authority (SEIAA) has not been taken for the project. The Union ministry has asked the state government to stop the construction work and submit a compliance report within three weeks.

    The order has been sent to the state principal secretary (forests) with a copy each to the member-secretary of Bihar State Pollution Control Board, SEIAA chairman and Abu Dojana, CMD of the Meridian Construction (India) Limited, which is developing the mall. Dojana is an RJD MLA.

    The action has been taken in response to a memorandum submitted by state BJP MLC and former deputy CM Sushil Kumar Modi to the Union forest ministry on May 11.

    “Environmental clearance is required to be taken from the SEIAA for any construction over an area above 2 lakh square feet. However, no such clearance was taken in case of this mall with a built-up area of 7.66 lakh square feet. The SEIAA was supposed to report the violation to the Centre, but it didn’t,” Modi said at a press conference at the state BJP HQ in Patna on Friday.

    Modi said the mall is proposed to be a 12+2 (basement)-storey structure with provisions for a five-star hotel, a multiplex, a shopping mall, an office tower and 1,000 shops.

    The leader of opposition in the state legislative council claimed the Lara Projects has two shareholders, Lalu’s wife Rabri Devi (85%) and son Tejashwi Yadav (15%). The firm’s two directors are Chanda Lalu and Ragini Yadav, both daughters of Lalu.

    Dojana, however, said the construction work had not yet started and only excavation work had been carried out at the mall site. “We will approach the authorities concerned as and when we require to get environmental clearance,” the MLA said.











    http://realty.economictimes.indiatimes.com/news/regulatory/centre-halts-construction-of-mall-tied-to-lalus-family/58759401

    CommentQuote
  • Sushil Modi fires benami asset salvo at Lalu’s daughter The leader of opposition in the legislative council said the 3,267sqft plot is located adjacent to another piece of Lalan’s 1,088sqft plot gifted to Lalu’s wife and former CM Rabri DeviTNN | June 11, 2017, 07:17 IST

    PATNA: Former deputy CM and BJP MLC Sushil Kumar Modi on Saturday targeted yet another daughter of Lalu Prasad, saying the RJD president’s fifth daughter Hema Yadav was in 2014 gifted a prime land by Lalan Choudhary, who worked in the family’s cowshed for 20 years.

    Lalu has seven daughters and two sons, including Tej Pratap Yadav and Tejashwi Yadav who both are ministers in the Nitish Kumar-led grand alliance government in Bihar. His eldest daughter Misa Bharti is a Rajya Sabha member.

    The leader of opposition in the legislative council said the 3,267sqft plot is located adjacent to another piece of Lalan’s 1,088sqft plot gifted to Lalu’s wife and former CM Rabri Devi. At a presser earlier on Tuesday, Modi had claimed the land gifted to Rabri was worth over Rs 30 lakh.

    “Lalan thus gifted land worth over Rs 1 crore to the family. The two transactions took place within a fortnight,” Modi said on Saturday, and claimed Lalan in official records is a poor man, his name figuring on the BPL list and his address being a house allotted to him under Indira Awaas Yojana in Siwan district’s Barharia block.

    Releasing documents to buttress his claims, Modi said Lalan ‘bought’ one plot at Danapur, on the outskirts of Patna, from one Vishun Dev Rai for Rs 4.21 lakh on March 29, 2008. It was gifted to Hema on February 13, 2014. The land gifted to Rabri was ‘purchased’ by Lalan from one Rameshwar Prasad Yadav on March 30, 2009. There’s also a house on the land gifted to Rabri, Modi said.

    Both the land transfer (gift) documents contain clauses, which read: “The donor is very close to the donee for long and the donee is also financially helping and rendering service to him for long and therefore the donor disclosed his intense desire to gift his property.”

    Modi alleged quid pro quo. “Lalu family got the two plots in lieu of a jobs to the families of original landowners, Vishun Dev and Rameshwar. The lands were shown on paper to have been sold to poor Lalan in 2008-09 when Lalu was the minister for railways,” the BJP functionary said at a press conference on Saturday.

    Modi earlier held a series of press conferences and alleged Lalu adopted similar modus operandi to acquire properties from two former Union ministers and RJD MPs Raghunath Jha and Kanti Singh in lieu of offering them ministerial berths.

    The BJP MLC said he would soon write to the Income Tax department to probe the benami properties of Lalu family.

    The RJD reacted sharply to Modi’s fresh allegation. “I have said it earlier that Modi has completely lost the plot as to how he should engage with political rivals. He has to first decide whether he has become the self-declared custodian of what is legal and what is illegal. He is making such wild allegations only to get noticed by the Narendra Modi-Amit Shah duo,” said RJD national spokesperson Manoj Jha.











    http://realty.economictimes.indiatimes.com/news/regulatory/sushil-modi-fires-benami-asset-salvo-at-lalus-daughter/59090818


    CommentQuote
  • Lalu Prasad, family may face more cases over benami properties BJP leader and new deputy chief minister Sushil Modi has vowed to bring more cases of corruption involving Prasad and his family to light, even as the RJD chief and his younger sonMadhuparna Das | ET Bureau | August 05, 2017, 15:00 IST

    PATNA: Nearly 150 benami properties allegedly owned by the Rashtriya Janata Dal chief Lalu Prasad and his family are under the scanner of the central and state agencies following the collapse of the mahagathbandhan or grand alliance in Bihar.

    BJP leader and new deputy chief minister Sushil Modi has vowed to bring more cases of corruption involving Prasad and his family to light, even as the RJD chief and his younger son, erstwhile deputy CM Tejashwi Yadav, have started a campaign demanding action in the cases lodged against Modi and Chief Minister Nitish Kumar.

    “I have around nine cases. But I can explain those cases,” Modi told ET. “Five of them were lodged when Adhikar agitation (for demanding that the Centre grant special status to Bihar) was going on.

    Three of them are defamation cases slapped by Sadhu and Pappu Yadav. And a case was also lodged for rail roko. These cases cannot be equated with corruption charges worth thousands of crores against one particular family. They were never willing to explain those cases, they only shouted saying ‘political vendetta’.”

    The benami properties allegedly owned by Prasad and his family are located in Patna, Delhi and Aurangabad. Besides the land and soil cases, Modi has alleged a sand mining scam against Prasad’s family members and other RJD leaders.

    A police official said that a crackdown has been launched against RJD workers and supporters against whom criminal cases are lodged. “Around 100 men have already been rounded up. There are many cases, which were pending. All these cases will be investigated and all pending warrants will be executed,” said the official who did not want to be identified.

    While Tejashwi Yadav is already being probed by the central investigating agencies for his alleged involvement in the land scam, cases including zoo soil case have been initiated against Prasad’s elder son and erstwhile state health minister Tej Pratap Yadav.

    Responding to Tejashwi Yadav’s claim that the Central Bureau of Investigation had initiated a case against him when he was a minor, Modi said, “According to the FIR, charges against Tejashwi pertain to 2014, when he became a director of the company which bought land worth .`94 crore paying only Rs 94 lakh. As far as Tej Pratap’s case is concerned, it is small in stature. It is a case in which a misappropriation of .`40-50 lakh is involved. But the sand mining case is a more serious one. It will involve many RJD leaders and it is a case worth crores.”

    Following the collapse of the grand alliance, investigations have begun in at least a dozen cases, some of which are fresh while the rest are old cases that have been reopened, officials said.











    http://realty.economictimes.indiatimes.com/news/regulatory/lalu-prasad-family-may-face-more-cases-over-benami-properties/59925754
    CommentQuote
  • Rabri sold 3 flats to sand trader for Rs 1.72cr: SuMo Marchhia Devi was Lalu’s mother and the residential complex named after her is located on Gola Road on the ouskirts of PatnaTNN | August 08, 2017, 08:07 IST

    PATNA: Continuing his tirade against Lalu Prasad and family which led to the fall of Grand Alliance government in Bihar last month, deputy CM Sushil Kumar Modi on Monday alleged one Subhash Prasad Yadav, who is the director of three companies with stakes in sand mining in six districts of the state, purchased three of the 18 benami flats of Lalu’s wife Rabri Devi in Ma Marchhia Devi Complex at Patna on a single day on June 13 this year after paying her Rs 1.72 crore.

    Marchhia Devi was Lalu’s mother and the residential complex named after her is located on Gola Road on the ouskirts of Patna. Subhash, a resident of Hetanpur village in Danapur block, is director of Broadson Construction Pvt Limited, Banshidhar Construction Pvt Limited and Mor Mukut Private Ltd.

    Modi held a series of press conferences from April to June this year and made disclosures about alleged benami assets of Lalu and family. The charges led to raids against the family by central agencies, following which CM Nitish Kumar parted ways with RJD and Congress. He rejoined the NDA and formed his government again.

    “Anticipating seizure of their benami properties by the I-T and other central agencies, Lalu’s family resorted to selling them off. Subhash bought two flats in his name and one in his wife Lalti Devi’s name,” Modi alleged. “It betrays the close link between Subhash and Lalu. The sand trader also finances the RJD’s political activities,” Modi alleged and questioned why a sand trader, not anyone else, purchased the flats of Rabri.

    Modi asked Lalu to explain who all purchased the remaining flats, failing which he himself would reveal their names soon. He said he would submit the papers related to the flat purchase to CM Nitish Kumar and central agencies, and demand a probe into it.








    http://realty.economictimes.indiatimes.com/news/residential/rabri-sold-3-flats-to-sand-trader-for-rs-1-72cr-sumo/59964212

    CommentQuote
  • Changes in Bihar building bylaws soon: Sushil Modi Addressing a function to mark the launch of Bihar Real Estate (Regulation and Development) Rules, 2017 web portal here, Modi saidTNN | August 09, 2017, 11:30 IST

    PATNA: Deputy chief minister Sushil Kumar Modi on Tuesday said the state government will soon bring changes in the Bihar Building Bylaws, 2014 with special emphasis on ease of doing business, online processing and mixed use of land for residential and commercial purposes.

    Addressing a function to mark the launch of Bihar Real Estate(Regulation and Development) Rules, 2017 web portal here, Modi said the Real Estate (Regulation and Development) Act, 2016 (RERA) will play an important role in a state like Bihar where 1,200 people live in 1km area on an average. “There was a time when everyone was becoming a real estate developer, leading to unregulated growth,” Modi said, adding after the changes in building bylaws, builders may initially face hiccups, but they will benefit from it in the long run.

    The deputy CM said both Prime Minister Narendra Modi and Bihar CM Nitish Kumar are committed to realising the dream of ‘house for all’. He said builders should focus on green area, fire safety, solar energy and waste disposal.

    A source in the state urban development and housing department (UDHD) said draft for changes in Patna planning area has already been prepared and may become effective from October this year. For other cities, the draft will be prepared by March next year.

    “Plot less than 300 sq metre area or building less than 15 metre height will get automatic approval under ‘trust and verify’ concept. Also, one can collect no objection certificates from various departments online,” an official said.

    State UDHD minister Suresh Kumar Sharma stressed on the need of vertical growth of cities, keeping in mind scarcity of land.

    Bihar Vikas Mission research associate Pratyush Kumar said RERA would bring transparency in the real estate sector and protect the interests of both builders as well as buyers. “There is a notion that real estate regulatory act will have negative impact on the builders. This is absolutely wrong,” he said.

    Kumar said all the projects will have to be uploaded on the web portal with details of builders, architects, original approved map and five-year track record of builders, among other information.

    Even the builders came up with their suggestions and requested the government to bring certain changes in Bihar Real Estate (Regulation and Development) Rules.

    Chairman of Patna chapter of Builders’ Association of India, Bhavesh Kumar, said once a builder gets registered under the Act, there should be no need to register with individual urban local bodies where construction work has to be done. He favoured speedy trial of those projects on which vigilance case was going on.










    http://realty.economictimes.indiatimes.com/news/regulatory/changes-in-bihar-building-bylaws-soon-sushil-modi/59981154

    CommentQuote