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Delhi Real Estate Updates

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  • Re : Delhi Real Estate Updates

    LG steps in, Delhi development authority sells 870 Narela flats in 15 days

    Read more at:
    https://realty.economictimes.indiati...-days/94364387



    DDA has been offering 509 LIG and 772 EWS flats at Narela on a first come, first served basis from September 5, for which it has received 1,940 registrations and 870 flats — 619 EWS and 251 LIG flats — have already been sold.


    NEW DELHI: Delhi Development Authority (DDA) has sold 870 out of total 1,281 previously ‘unsold’ flats in Narela in the last 15 days on first come, first served basis after the intervention of lieutenant governor VK Saxena, who is also the DDA chairman, Raj Niwas said in a statement.

    The statement said that the LG’s intervention, which included amending the eligibility criteria for buying houses and efforts towards developing transport connectivity, security and health services in Narela, has given the sale of flats an impetus.

    DDA has been offering 509 LIG and 772 EWS flats at Narela on a first come, first served basis from September 5, for which it has received 1,940 registrations and 870 flats — 619 EWS and 251 LIG flats — have already been sold. The sale of all the 1,281 flats is expected to fetch Rs 196.9 crore, it said.

    In the meeting of DDA, chaired by the LG on August 3, it was decided to do away with the requirement of having annual individual income of less than Rs 3 lakh for applicants of EWS categories and less than Rs 10 lakh as family income. Instead, the authority decided to allot such flats only based on annual family income below Rs 10 lakh per annum as certified by competent officers or authority, which the statement said led to many more applicants becoming eligible.

    The statement also said that the decision to shift from lottery mode for allotment of houses to first come, first served basis, which provides the opportunity to the buyer to first see the property that he is buying and then decide, has also led to an enthusiastic response from the people.

    Raj Niwas said that on the instructions of the LG, Delhi Transport Corporation has started operating two buses each in two shifts on routes connecting Narela Pocket-G and Narela Sector-A1 to Central Secretariat through major localities in the city. It said that land has been allotted to Delhi Police for construction of 11 police stations in various sectors in Narela.
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    • Re : Delhi Real Estate Updates

      NCRTC to develop serviced apartments in Delhi's Jungpura

      Read more at:
      https://realty.economictimes.indiati...gpura/94371511



      The corporation plans to develop 149 one-bedroom units at the site and use the income generated from the serviced apartments to smoothen the operation of the RRTS trains, people in the know said.


      National Capital Region Transport Corporation (NCRTC), which is executing the Delhi-Meerut regional rapid transit system (RRTS) project, has identified 17.27 hectares of land in south Delhi’s Jungpura area to develop and lease serviced apartments.

      The corporation plans to develop 149 one-bedroom units at the site and use the income generated from the serviced apartments to smoothen the operation of the RRTS trains, people in the know said.

      NCRTC has invited quotations from companies for operating the proposed apartments.

      “The proposed scope of work for the operator is to function as an operator of the serviced apartments as studio apartments,” said NCRTC’s tender document, a copy of which has been reviewed by ET.

      According to the plan, common amenities like gym, yoga room, dining and kitchen and lounge areas will be on the ground floor while the recreational spaces--like terrace garden and sitting lounge—will be on the higher levels.

      “The services shall include operations and maintenance of the building, including sales and marketing of the inventory, maintenance of building infrastructure, housekeeping, etc. for the decided tenure,” says the tender document. “The operator will oversee the building, its services and its premises, including the landscape area and other common areas.”

      Being a transit-oriented development (TOD) zone, Jungpura is being developed in a manner that will ensure optimal use of land for residential, commercial, business and leisure purposes with good connectivity.

      As per the current master plan of the area, this includes residential towers and commercial complexes, among other planned connectivity measures.

      “In Delhi, where there is a scarcity of land, TOD policy is helping the real estate sector. Along with RRTS, Delhi metro has also auctioned space for mall and office space,” said a property consultant.

      State-owned NBCC is also developing office towers in south Delhi, while Rail Land Development Authority (RLDA) is opening up real estate around the railway stations.

      Jungpura is considered a premium area in the national capital. The metro station here has direct connectivity to the Sarai Kale Khan station, from where commuters will have access to all three corridors of RRTS.

      The idea of TOD policy is to provide access to all residential and commercial facilities within a walkable area so that people don’t commute long distances in private vehicles.

      “A TOD approach in Delhi will help bridge the distance between jobs and mass transit, resulting in much-needed integration between land use and transport services,” said the consultant cited earlier. “This is a critical paradigm shift which can potentially improve public transit ridership, reduce vehicular congestion and reduce greenhouse emissions and pollution in the long run.”

      Experts say that the upcoming network of rapid rail will revive the real estate markets of Ghaziabad, Meerut and other areas along the corridor, including Modinagar and Muradanagar.
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      • Re : Delhi Real Estate Updates

        Massive traffic jams across Delhi after overnight rain


        IANS / Sep 23, 2022, 12:08 IST



        Overnight incessant rain caused traffic snarls on Friday (ANI photo)

        NEW DELHI: Vehicles in the national capital were moving at a snail's pace at various places as roads were clogged with heavy traffic jams on Friday morning following the overnight incessant rain.

        According to the Delhi traffic police, waterlogging was reported near Hanuman Setu on Shanti Van to the Hanuman Mandir carriageway, Libaspur underpass, Maharani Bagh Taimur Nagar cut, CDR Chowk, Mehrauli towards Gurugram, Andheria Mode towards Vasant Kunj, Under Nizamuddin bridge, Singhu Border near petrol pump and MB Road towards Sainik Farm carriageway.
        Traffic snarls in Delhi after incessant rain #Video #DelhiRains #DelhiTrafficPolice https://t.co/zW4ilYc9kG

        — TOI Delhi (@TOIDelhi) 1663909946000
        The police advised the commuters to avoid all these stretches.

        The India Meteorological Department (IMD) has predicted a generally cloudy sky with moderate rain and thundershowers at almost all the areas of the city on Friday.
        #6ETravelAdvisory: Due to water logging in some parts of #Delhi, we advise passengers to keep enough travel time in… https://t.co/LRgtZuUr2R

        — IndiGo (@IndiGo6E) 1663912659000
        Even the IndiGo airlines has advised its passengers to keep enough travel time in hand while travelling to the Delhi airport as waterlogging has been reported from several parts of the city.

        On Thursday, the administrations in Gurugram and Noida, taking note of the weather conditions, issued certains advisories in their areaa.

        The Gurugram administration issued an advisory to private institutions and corporate offices to guide their employees to work from home to avoid traffic congestion on roads.
        In Noida, all government and private schools up to Class 8 will remain closed as several roads in the city were waterlogged due to the incessant rain.








        Massive traffic jams across Delhi after overnight rain | Delhi News - Times of India (indiatimes.com)
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        • Re : Delhi Real Estate Updates

          Delhi: NOC not needed for properties that became freehold before March 2000

          Read more at:
          https://realty.economictimes.indiati...-2000/94387669



          L&DO, which comes under the Union housing and urban affairs ministry, had in July issued directions to the Delhi revenue department, asking not to register any property without the NOC.


          High-end properties in Delhi that have been converted from leasehold to freehold before March 2000 can be registered without a no-objection certificate (NOC) from the Land and Development Office (L&DO), the department clarified on Thursday.

          L&DO, which comes under the Union housing and urban affairs ministry, had in July issued directions to the Delhi revenue department, asking not to register any property without the NOC.

          The move had stalled high-value property transactions in Lutyens' Delhi, South Delhi and West Delhi.

          "The additional requirement of NOCs from L&DO for freehold privately held properties had stalled several transactions in the most prime locations," said Amit Goyal, CEO, India Sotheby's International Realty. "This is the time when families living overseas and owning property visit India and this much needed clarity will restart the transactions momentum along with registrations of sale deeds, ATS and GPAs."

          NOCs will not be required for registration of wills, gift deeds, relinquishment deeds, rent agreements, and general power of attorneys (GPA) for both leasehold and freehold properties of L&DO, the department said in a letter to the revenue department of Delhi. There is also no need of NOCs for registration of shops which were under the jurisdiction of L&DO but were transferred to local bodies.

          "Further, there is no processing fee for the NOC and the NOC will be uploaded on the website," Niranjan Kumar Joshi, deputy land & development officer, said in the letter.

          "A momentum had built up post Covid-19 and luxury properties were in great demand," said Pradeep Prajapati, founder of boutique real estate consultancy firm Wealthvisory Capital. "With this clarification, hopefully the momentum will resume."







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          • Re : Delhi Real Estate Updates

            1,000 homes demolished in Delhi, 5,838 people hit, says report

            Priyangi Agarwal / TNN / Updated: Sep 25, 2022, 04:49 IST



            The report highlighted inadequate and delayed resettlement as evicted families have been waiting for rehabilitation for several years.

            NEW DELHI: A new report by Housing and Land Rights Network (HLRN) says that the government authorities, at both the central and state levels, demolished over 36,480 homes in 2021, thereby evicting over 2 lakh people from their homes across the country.

            In Delhi, various land-owning agencies demolished 1,123 homes for various reasons, affecting a total of 5,838 people.

            The national capital witnessed several incidents of such demolitions between February and July this year. The report alleged that in most of these cases, due processes were not followed and the affected persons were not rehabilitated. It said “forced evictions” lead to displacement of families, loss of homes and livelihood, disruption of children’s education, severe impact on health, and physical and psychological trauma among other consequences.

            Among the reasons that led to eviction of people in the national capital are slum-clearance, anti-encroachment or beautification drives and infrastructure projects.

            Delhi Development Authority (DDA) carried out several demolition drives to vacate government land in 2021. “In February 2021, DDA demolished 150 houses in Shastri Park. In Dhobi Ghat area, DDA along with police demolished 26 houses. In December 2021, DDA demolished over 140 houses in Kalkaji without any rehabilitation provided to the affected families,” HLRN claimed in the report. DDA did not respond to queries sent by TOI.

            The report highlighted inadequate and delayed resettlement as evicted families have been waiting for rehabilitation for several years. “In many of these cases, the rehabilitation has been ordered by the Delhi high court and the families have paid for alternative housing, often by taking personal loans at high interest rates. In Kidwai Nagar, around 400 affected people have been waiting for the allotment of alternative flats since 2017,” said the report.

            The report alleged that with the continued lack of coordination between governments and overlapping implementation of schemes for the poor, the evicted families in Delhi are forced to languish in inadequate living conditions, waiting to be rehabilitated by the state.

            HLRN in the report recommended to the Centre and state governments that due processes should be followed by ensuring that the free, prior, and informed consent of all affected persons is taken before any eviction project is finalised. The report said alternative accommodation should be urgently provided to all evicted families.









            1,000 homes demolished in Delhi, 5,838 people hit, says report | Delhi News - Times of India (indiatimes.com)
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            • Re : Delhi Real Estate Updates

              Delhi: NOC not needed for properties that became freehold before March 2000

              Read more at:
              https://realty.economictimes.indiati...-2000/94387669



              L&DO, which comes under the Union housing and urban affairs ministry, had in July issued directions to the Delhi revenue department, asking not to register any property without the NOC.


              High-end properties in Delhi that have been converted from leasehold to freehold before March 2000 can be registered without a no-objection certificate (NOC) from the Land and Development Office (L&DO), the department clarified on Thursday.

              L&DO, which comes under the Union housing and urban affairs ministry, had in July issued directions to the Delhi revenue department, asking not to register any property without the NOC.

              The move had stalled high-value property transactions in Lutyens' Delhi, South Delhi and West Delhi.

              "The additional requirement of NOCs from L&DO for freehold privately held properties had stalled several transactions in the most prime locations," said Amit Goyal, CEO, India Sotheby's International Realty. "This is the time when families living overseas and owning property visit India and this much needed clarity will restart the transactions momentum along with registrations of sale deeds, ATS and GPAs."

              NOCs will not be required for registration of wills, gift deeds, relinquishment deeds, rent agreements, and general power of attorneys (GPA) for both leasehold and freehold properties of L&DO, the department said in a letter to the revenue department of Delhi. There is also no need of NOCs for registration of shops which were under the jurisdiction of L&DO but were transferred to local bodies.

              "Further, there is no processing fee for the NOC and the NOC will be uploaded on the website," Niranjan Kumar Joshi, deputy land & development officer, said in the letter.

              "A momentum had built up post Covid-19 and luxury properties were in great demand," said Pradeep Prajapati, founder of boutique real estate consultancy firm Wealthvisory Capital. "With this clarification, hopefully the momentum will resume."
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