Board irons out development bottlenecks
Jan 12, 2013, 01.41AM IST TNN

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.
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  • It seems that it will cover on going Projects as well!
    CommentQuote
  • Drat of the bill says that any project which has got all the approvals prior to the time period of one year from the date of coming into effect of the bill, will not be required to register with the regulating authority. hence will be out of ambit of this bill.
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  • Can you post that clause here
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  • Originally Posted by dineshsays
    Can you post that clause here


    I could not locate the latest version but this is from the draft version of the bill.

    (b) where the promoter has received all requisite approvals and the
    commencement certificate for the development of the real estate project prior to
    commencement of this Act;

    & for phased development, each phase needs to be registered.

    Explanation.—For the purpose of this section, where the real estate project is to
    be developed in phases, every such phase shall be considered as a stand alone real
    estate project, and the promoter shall obtain registration under the Act for each phase
    separately
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  • Originally Posted by Vinayjoshi
    Drat of the bill says that any project which has got all the approvals prior to the time period of one year from the date of coming into effect of the bill, will not be required to register with the regulating authority. hence will be out of ambit of this bill.


    Does that mean, even clauses like "developer liable to paying the same interest as the EMI being paid by the consumer to the bank back" don't apply for existing projects?

    All this is a bit far fetched at this point as customers are still dependent on the state governments to set up RERA for complaints to be heard. Not sure how soon UP govt. will implement this.
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  • The prrojects Where the approval for commencement of development has been granted are not required to REGISTER under RERA. BUT developers will hv other obligations under the Act
    The very objective of If the Bill will be defeated if it excludes the ongoing projects which r stuck since eternity.
    If there is no protection for existing buyers of uncompleted projects b ready for massive AGITATAIONS.
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  • The best thing is the bill is covering ongoing projects as well..
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  • Originally Posted by sandy20535
    The best thing is the bill is covering ongoing projects as well..


    i dont know from where it is coming and who started giving this false info. It was clearly communicated in one of the recent property show by a legal expert "this bill doesn't apply retrospectively and old projects not covered except where permission has been granted in last 12months from the day it becomes law."

    Registering property details can be asked but not putting 70% money in escrow account so stop hoping your 5year old project will fall under this. This will be like repeat of Vodafone case and Govt will burn lot of bridges so No, it doesnt apply on old projects.

    (anyone still remember Ads by Lodha group asking to vote before election and then thanking to vote for Modi govt after election? Do you think govt will do anything to burn bridges with this builder community? Who will pay for next election then?)
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  • This will cover the existing projects if they are launching fresh phase/towers (if they seek fresh approvals) for the same.
    CommentQuote
  • Originally Posted by rareal
    This will cover the existing projects if they are launching fresh phase/towers (if they seek fresh approvals) for the same.


    Yesterday on NDTV it was discussed that all the projects that have not received Completion certificate or Occupancy Certificate will be under the regulator.
    Even I was wondering about this. But r u sure existing towers that are under construction will not get benefit.
    Existing buyers are concerned about that carpet are declaration etc. But yes, five years structural quality assurance etc. Will definetly create a diff.
    Plz. Share if you have exact info..
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  • Although fine print will be decoded soon but it seems highly illogical n irrational if ongoing projects r not given protection.
    If interest, penalty , imprisonment etc r not applicable in case of ongoing projects the developers will become even fearless.
    But precise section of RERA WILL hv to be dissected.
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  • Originally Posted by sandy20535
    Yesterday on NDTV it was discussed that all the projects that have not received Completion certificate or Occupancy Certificate will be under the regulator.
    Even I was wondering about this. But r u sure existing towers that are under construction will not get benefit.
    Existing buyers are concerned about that carpet are declaration etc. But yes, five years structural quality assurance etc. Will definetly create a diff.
    Plz. Share if you have exact info..


    I haven't seen the actual bill that was finally tabled.

    As per the original bill, only new phases of the existing projects would be brought under this. But standing committee also recommended to bring in all the existing projects.

    We just need to wait for the bill document to know it clearly.
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  • As per the following site, the ongoing projects are covered!

    Rajya Sabha clears Real Estate Bill to make consumer the king

    This site quotes from VenkaiahNaidu's speech on the improvements to the bill that has been tabled.

    1.The Government has gone beyond the recommendation of the Select Committee and now requiring developers to deposit 70% of the collections form buyers in a separate accounts towards the cost of construction including that of land as against a minimum of 50% suggested by the Select Committee;

    2. Norms for registration of projects has been brought down to plot area of 500 sq.mts or 8 apartments as against 4,000 sq.mt proposed in the draft Bill in 2013 and 1,000 sq.mts or 12 apartments suggested by the Standing Committee;

    3. Commercial real estate also brought under the ambit of the Bill and projects under construction are also required to be registered with the Regulatory Authority. About 17,000 projects are reported to be at various stages of development;

    4.Capret area has been clearly defined which forms the basis for purchase of houses, eliminating any scope for any malpractices in transactions

    5.Ending the earlier asymmetry which was in favour of developers, both consumers and developers will now have to pay same interest rate for any delays on their part;

    6.Liability of developers for structural defects have been increased from 2 to 5 years and they can’t change plans without the consent of two thirds of allottees;

    7.The Bill provides for arranging Insurance of Land title, currently not available in the market which benefits both the consumers and developers if land titles are later found to be defective;

    8.Specific and reduced time frames have been prescribed for disposal of complaints by the Appellate Tribunals and Regulatory Authorities; and

    9.A provision is now made for imprisonment of up to 3 years for developers and up to one year in case of real estate agents and consumers for any violation of Tribunals and Regulatory Authorities.
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  • I think by lowering the threshold to 8 units and 500 sq m , they have made this too inclusive and the regulator will be flooded with claims and counter claims. In the end the enormity of the numbers will work to the advantage of the builders.
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  • what will be the effect of the bill on the prices of Resale or ready to move or completed property?

    They were sold as per super area at the time of launch and construction and even today their rates are quoted based on super area.
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