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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  • Originally Posted by cookie
    Mansi Taneja | New Delhi June 19, 2013 Last Updated at 19:22 IST
    Weak rupee spurs NRIs to buy '20% cheaper homes'The enquiries from NRIs for buying property in India have risen by at least 15-20% following the rupee depreciation


    Rupee depreciation may be bad news for the Indian economy, but not so for the non-resident Indians (NRIs) scouting for property back home. Cashing in on the opportunity to buy residential units cheaper by up to 20%, NRIs are queueing up big time.

    “The enquiries from NRIs for buying property in India have risen by at least 15-20% following the rupee depreciation. The enquiries may go up further once it touches the 60 mark,” Harinder Singh, managing director, Realistic Realtors, said. Eager to hardsell the Indian real estate story, Singh said "it is the most advisable time for NRIs to invest in India".

    The number of calls from NRIs have gone up to 800 per month from 200 earlier at Investors Clinic, a real estate portal, as the property prices for them has come down by 20-25%, according to Nishant Singhal, Director – Strategy & Alliances, Investors Clinic. Even before the rupee depreciation had begun, the NRI community had begun stepping up their enquiries in anticipation, according to analysts.

    Another real estate portal Commonfloor.com is seeing 10 lakh visits every month, which is double of what it used to get few months ago.

    Sumit Jain, CEO, Commonfloor.com, said the NRI traffic was coming primarily from the US and Australia. And the demand is more for high end properties.

    “With rupee depreciation, slowdown in real estate market and government policies including the one on farmhouses in Delhi, this is the right time for NRIs to invest in India,” Jain said.

    Delhi-NCR and Mumbai are still the most preferred destinations for NRIs to buy property, a property broker said.

    IndiaHomes, a property services company, also saw increased number of enquiries from NRIs for buying properties across segments. “There is an immediate spurt of interest for buying property in India but whether this would translate into actual transactions will only be known after some time,” according to Manish Mehta, Vice President, IndiaHomes.

    To cater to the NRI needs, IndiaHomes has customised its home page specific to countries where a potential buyer resides. It is also planning to open offices in the US, West Asia and South-East Asia by end of the year, where it already services customers through the online medium.

    On the other hand, Investors Clinic had facilitated 400 transactions for NRIs last year and average investment per NRI was around Rs 3 crore. It already has offices in Singapore and Dubai to tap the huge NRI market and offer customer care services as well as facilitate loans from various banks for its overseas customers.

    However, there are contrarian views as well. Joy Sanyal, Head – Development Initiatives, Jones Lang LaSalle India said there is not much traction. “NRIs are much more conservative than local buyers. It is too early to see an impact,” he said.

    BS


    Most of the figures quoted in above article are by likes of Investor Clinic, India homes, Realistic Realtors etc.

    When have these fine guys have said there is slow down?? As per them there was never a slowdown, there is no slowdown, and there will never be a slowdown.
    CommentQuote
  • Originally Posted by JD2012
    Digvijay jee, now days what is the best way to remit money to india where you get maximum rate ?

    For US and Dollar remit till Jan 2013, it was SBI remit, now they have stopped this service.
    Now what you have to do is to open a checking account with SBI USA any branch and remit using their services,money gets into SBI India or other banks account within 6-8 hours with same day rate, No one can beat SBI, track the rates for few days in below link and compare.
    NRI Services, NY - Rupee Dollar Exchange Rate
    CommentQuote
  • Originally Posted by htiwari
    For US and Dollar remit till Jan 2013, it was SBI remit, now they have stopped this service.
    Now what you have to do is to open a checking account with SBI USA any branch and remit using their services,money gets into SBI India or other banks account within 6-8 hours with same day rate, No one can beat SBI, track the rates for few days in below link and compare.
    NRI Services, NY - Rupee Dollar Exchange Rate


    Thanks htiwari.

    My son is in UK, can we do the same from UK ?
    CommentQuote
  • Originally Posted by JD2012
    Thanks htiwari.

    My son is in UK, can we do the same from UK ?



    Your son can go to any bank (where he holds an account) and request the bank to remit pounds to the Indian Bank. Your bank will be able to provide you the SWIFT details which are needed to make the remittance.

    Once the funds are received by your bank, you can negotiate a rate with your bank.
    CommentQuote
  • Originally Posted by JD2012
    Thanks htiwari.

    My son is in UK, can we do the same from UK ?

    Yes, SBI do have branches there, better call and inquire there!! compares rates and time of remit with banks and site too.
    CommentQuote
  • Originally Posted by JD2012
    Thanks htiwari.

    My son is in UK, can we do the same from UK ?

    No need to open bank account with SBI UK.

    SBI provides remit service same as ICICIs (MoneyToTransfer). SBI gives the best rate. Ask your son to register at the below link, money is transferred in 24-28 hours to any Indian bank account.

    https://remit.onlinesbi.com/glsuk/loginSecond.htm
    CommentQuote
  • Originally Posted by infosmith
    No need to open bank account with SBI UK.

    SBI provides remit service same as ICICIs (MoneyToTransfer). SBI gives the best rate. Ask your son to register at the below link, money is transferred in 24-28 hours to any Indian bank account.

    https://remit.onlinesbi.com/glsuk/loginSecond.htm

    Yes, you can try this for UK, but this SBI Remit service was stopped for USA on Jan 2013.
    CommentQuote
  • Originally Posted by JD2012
    Digvijay jee, now days what is the best way to remit money to india where you get maximum rate ?


    Good day forum mate,

    I think the best way to remit money to India is to send money to FCNR account, the money will remain in dollars. See the trend and if you really need to convert just wait for one INR bashing day.(as was today.)


    I feel axis bank is good, they claim to have best conversion rate and are always ready to compare with any bank. But you need to be little alert and proactive.

    However as some poster has said, SBI will give you hassle free better rates. ( I have no exp. with SBI, but I have heard they are among the best)

    The worst of the lot are Standard Charted and HSBC.


    PS : I feel we have gone way off the topic.
    CommentQuote
  • Fresh inquiry to start in allotment of Noida EWS flats

    NOIDA: Following orders of the UP urban development ministry, the Gautam Buddh Nagar district administration has started a fresh inquiry into alleged irregularities in allotment of flats under the Kanshiram Shehri Garib Awas Yojana in Noida. A three-member inquiry committee has been formed to verify complaints that several individuals have been allotted flats despite not fulfilling the eligibility criteria.

    Under the Kanshiram Awas Yojana, flats had been allotted to economically weaker sections of the society in Sector 45 of Noida by the erstwhile Mayawati-led BSP government in 2008.

    District magistrate Kumar Ravikant Singh has constituted the inquiry committee comprising Noida city magistrate Sanjay Chauhan, SDM Anju Lata and executive officer of Dadri Municipal Council, Abhisek Singh. It will verify allegations that allotments in Noida have been made to several individuals who rather than belonging to the EWS category were actually financially well-off.

    Officials said that as part of the inquiry, complaints regarding subletting of several flats after they had been allotted to their owners will also be verified. "Besides, it has also been alleged that several individuals were allotted flats based upon their proximity to highly placed officials in the state government. The committee will investigate the credentials of the allottees and check if they had fulfilled all necessary eligibility conditions as outlined in the scheme," said a senior official.

    "Allotments of around 250 flats will be investigated in the first phase," said an official.








    Fresh inquiry to start in allotment of Noida EWS flats - The Times of India
    CommentQuote
  • Originally Posted by infosmith
    No need to open bank account with SBI UK.

    SBI provides remit service same as ICICIs (MoneyToTransfer). SBI gives the best rate. Ask your son to register at the below link, money is transferred in 24-28 hours to any Indian bank account.

    https://remit.onlinesbi.com/glsuk/loginSecond.htm



    Thank you very much infosmith. I think we are going to use this service from here on.

    thanks once again.
    CommentQuote
  • I live in UK and transfer money using SBI. SBI gives best rate and if I tranfer before 2pm, I see money in my ICICI NRE account on same day. More importantly it gives the guaranteed rate.

    You need to have account in SBI UK for free tranfer.

    Earlier I used to use ICICI money to india, which used to take 2-3 days for money transfer and the rate it shows is not guaranteed. Mostly seen it is less than the tentative rate it shows.
    CommentQuote
  • NRIs

    kindly start new thread in general discussion forum and for God sake, spare this thread. :)
    CommentQuote
  • Yes absolutely.
    CommentQuote
  • Hello Friends..

    Inviting everyone in Delhi NCR to spare an hour and submit the objection letter against FAR increase to Noida authority.. Please please do me a personal favor and do come for this event,, even if you havent ever been active in the group.

    Its very critical, as the authority plans to turn our dream houses to chawls.. perhaps make them even denser than chawls. This impacts you badly whether you are an end user or an investor in mahagun moderene.

    The only way to fight against it is to submit an objection in person early next week. That is why we have set a time of 10 am to meet outside noida authority office..

    Friends for the love of god, please rise out of your slumber and come and join us in this.. We are very confident that we have a pretty watertight case against FAR. But we need you to support us..

    So with folded hands.. I, Pankaj Kapoor request you to come to the following place at 10 am this monday with a printout of the attached document, signed by yourself.. (ps - if you want any changes, do it for yourself before printing out)
    NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY
    Administrative Complex
    Sector 6, Noida - 201301
    District. Gautam Budh Nagar
    Uttar Pradesh, India
    Fax: 91- 120- 2422210-317
    Help Line No. 2425025,26,27
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  • The report names Noida and Greater Noida, Thane, Navi Mumbai, Whitefield in Bangalore, the southern suburbs of Chennai, Viman Nagar and Nagar Road in Pune, Gachibowli in Hyderabad and Rajarhat in Kolkata.

    Updated: Fri, Jun 21 2013. 12 44 PM IST

    Bangalore: Eight sub-markets are fast emerging as investment hotspots across the top seven cities in India as prime business districts have reached a saturation point, said property advisory Jones Lang LaSalle India (JLL) in a report.
    The report, Emerging Investment Hotspots—Mining Opportunities From the Complex Real Estate Terrain of India, was released at the Confederation of Indian Industry (CII) Real Estate Conclave in Mumbai on Friday.
    These emerging locations offer many real estate investment options with their relatively lower price levels providing incentives for future capital appreciation and healthy returns at a time when established city-centric locations don’t have much to offer in terms of development or meaningful price appreciation.
    The report names Noida and Greater Noida, Thane, Navi Mumbai, Whitefield in Bangalore, the southern suburbs of Chennai, Viman Nagar and Nagar Road in Pune, Gachibowli in Hyderabad and Rajarhat in Kolkata.
    “In such an environment of uncertainty, returns through capital appreciation and security of the invested capital are obviously prime concerns. The pertinent question of where to invest needs to be answered. This report seeks to do just that,” Anuj Puri, chairman and country head, JLL India, said in a statement.
    Residential launches will continue to remain strong in Noida and Greater Noida as this sub-market offers houses at affordable prices and good connectivity, said the report, while there is an impending oversupply situation due to a large supply of standalone office projects in the coming years. These standalone projects are expected to witness limited interest from office occupiers.
    Thane is seeing growing demand from cost-conscious occupiers, and will emerge as a prime business district where rental and capital values are expected to increase by almost 50% in the next five years from the last trough in 2009.
    “The southern suburb of Chennai, including corridors along the Great Southern Trunk (GST) Road, Old Mahabalipuram Road (OMR) and East Coast Road (ECR), has been witnessing fast development over the recent years. The growth in IT/ITeS sector has paved way for overall development of these precincts as it witnessed development of large scale residential townships from both national and local developers,” said the report.


    JLL report names 8 emerging realty investment destinations - Livemint
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