Thinking of Buying Luxury Flats in Delhi? Here Are Some Basic Guidelines

A new property buying with needed luxury amenities in Delhi is no longer a cheap deal in today’s time. Thus, before exploring high-road apartments and the list of amenities that can tranquilize your lifestyle, you need to fix your budget and move ahead to purchase one. Always keep in mind stretching budget might get you a better living in capital, but this might put your future savings at risk at the same point of time. So, don’t let dim your rainy day fund, just to showcase your standard of living. Here are some areas, where you might get tentatively lesser priced apartments in Delhi location.  You might get some tricks and tips throughout this write-up and case your budget accordingly.

Things should not show about the sq ft area. Other costs such as- stamp duty, parking, floor rise, registration, will appear as add-ons. So these things you should know well, before you enter into the big blue marble. So, before fall into the loop of best negotiable price, being showcased by the leading online property portals, you should know the hidden costs that would likely to mount up your budget. First things first, search property online, compare their price and reviews before speaking to a realtor. Take outright information of the locality, before visiting the site. Buyers should be well aware of the due diligence on builder’s previous track record and the quality of the construction he had delivered. If you have limited budget, buying a slightly older property can too serve your purpose.

Delhi NCR is cheaper than that of the other prime real estate locations of Delhi. Capital location has barely any place left for budget apartments. Keeping that projected view mortal, NCR had peripheral areas of Delhi is containing some healthy array in budget lifestyle apartments. These apartments can prove to be better choice of investment, if you continue focusing on three stakes in a clasp.

1. Budget. 
2. Location and 
3. Amenities.

 By far you must have observed the aspect ‘amenities’ we kept at the last in the list. So, this is how you should move ahead in property investing. South and central Delhi are categorized as posh locations. Finding most lavish apartments in this location can be easily done.

Here are some expensive areas of Delhi, could be chosen for upscale living such as- Greater Kailash, Paschim Vihar, Vasant Vihar, Saket, Aurangzeb Road, Defence Colony and Hauz Khas. These areas hem in most popular healthcare institutions, academic institutions, business towers and eminent historical architectures. Delhi is the place came in limelight of late due to its resale residential market and emerging property investment location NCR. Thus, property investment should be planned, which ever place you select to buy residential property one thing is assured that you will get numerous lifestyle facilities.

-LNN (Liyans News Network)- Buy/Sell/Rent property online. To buy affordable flats in Kolkata visit the most trusted online real estate portal of Kolkata. Connect with us for availing the best looking apartments within your budget.

Aadhar-Based Property Authentication a Rat’s Nest

In a tussle with benami deals, unaccounted income and illegitimate land absorption Indian government is planning to mandate Aadhar-based authentication of real estate document registration. Sources revealed that Aadhar recognition is must for every citizen and every valid transaction in India. Earlier Supreme Court declared that with the implementation of Aadhaar, the government had saved over Rs 50,000 crore on various schemes to help the economically weaker section of the country as well as pensioners. Aadhar linking is mandatory for allotment of PAN cards and filing IT returns. Now, property authentication appears to be top of the table of governmental agenda.

For immovable property validation central government necessitates few documents such as- agreement of sale and power of attorney for electronic registration purpose. Thence, electronic registration process is also in the pipeline. Sections 32 and 32A of the Registration Act, 1908 will be amended by the government to provide legal patronage to Aadhaar-based verification of documents. A draft of the amendments will be sent to the Union Cabinet for sanction, followed by the Parliament. Still the government hasn’t come out with any official statement regarding this matter.

For property registration Aadhar authentication process is a must undergo. Apart from downsizing the benami property consumption, housing department will ensure foolproof property titles for the buyers. State governments and Union Territories have been previously directed by the Department of Land Resources of the Rural Development Ministry to notify rules upholding “consent-based Aadhaar authentication” during the time of property registration.

Demonetization and the Benami Transactions (Prohibition) Amended Act, 2016, are two major union governmental policies just to restrict unaccounted black money inflow to real estate sector. Not only for property title verification, Aadhaar card holds a significant role in future property tax payment. Yet, digitization of land records has already been done in several states like Andhra Pradesh, Telangana, Haryana, Uttar Pradesh, Maharashtra, Chhattisgarh and Maharashtra. The linking of Aadhar card with land records will soon be followed after that.
“Until the government hasn’t come up with an official statement or press release we shouldn’t indulge these speculations. But this rollout will help government to track illegal properties and their title holders to a great extent,’’- said Mr. Bipin Tripathi, a resident of a renowned housing apartment in south Kolkata.
Asking about the development of affordable flats in Kolkata Mr. Tripathi also said, “There is merely any clamour regarding urban budget housing development under PMAY in Kolkata. But getting a 2 bhk budget flat within 25-28 lacs in Kolkata is not a big deal any day.”

-LNN (Liyans News Network) 

Against the increased registration fee home sales surge in Kerala

Government has already hiked the registration fee and cultivated new registration rule for properties which came into action since July 2016. Reportedly, these two major reforms couldn’t affect the realty sale in Kerala, the sales of apartments in particular. Against all odds, there was an ascending trend in sale in this state observed after revived realty law enforcement. Buying home with RERA assurance appeared to be secured choice of investment to the potential buyers.

After RERA and GST implementation market inclination has become heavier to the ready-to-move apartments, despite their relatively high prices. Buyers are increasingly showing their interest in on-hand projects that have valid occupancy certificates. The real estate industry is witnessing significant change in all real estate practices post RERA. The act strictly prohibits builders to advertise their under-construction projects. While OC ready projects are attracting healthy volume of buyers.

Affordable housing sector is another provision where limited investment can return, some serious steady proceeds.  Rather than spending a hefty volume in luxury apartments, people these days seems to be really interested in affordable flats in Kolkata and other major cities across the country. Kolkata has been mentioned separately, for the city still has some best alternatives in the category of budget flats within spending plan.

According to the updated data of the registration department of Kerala, the total number of apartments registered in 2015-16 was 7,438 in Kerala. This figure increased to 8,039 in 2016-17. The registration department pinned on the increased resilience in real estate has come along with the entry of new set of real estate builders over the past one year in the real estate economy.

However, this growth not up to the expectation of the industry players. According to the market professionals due to the money ban hit property sale had been significantly downwards since the last couple of quarters of the prior fiscal. Had the demonetization move not stir the market the registration volume would have been much higher in comparison to this numbers. The real estate market in Ernakulam has witnessed a marginal increase in terms of property absorption for 2016-17, while the increase in Thiruvananthapuram and Kozikode is remarkably high.

While the registration volume in Kerala has touched the apogee in 2013-14 and 2014-15, the stamp duty and the registration fee were 6% and 2 % correspondingly. The total value of apartments ­ as confirmed in the registration documents in 2016-17 ­ was Rs 2,622.08 crore. The revenue drawn by the government in terms of stamp duty in the course of registration of apartments in 2016-17 ­ was Rs 166.5 crore, while it was Rs 52.2 crore through registration fees.
The existing statistics of the department show is somewhat will confer buoyancy to builders who have been facing a further crisis with GST implementation. The drooping period is only provisional and the industry is anticipating that it will get back to its old rhythm within sometime.

-LNN (Liyans News Network)

Real Estate Slowdown- A Retrospective Overview

Indian property prices are to go up in coming days. The resurgence of property price attributes to the recent couple of policy changes of Indian government. Government is now aiming to attract global revenue into domestic economy. Affordable housing sector is supposed to be the key resource with which government is targeting to bring in. Meanwhile, rumour has it, both residential and commercial business in the country are about to see a corresponding slowdown.

At present developers are busy in reframing their business and the procedure of project registration with regulatory authority and they are very much annoyed with the rigid provisions of RERA. Sustaining business under RERA intervene won’t be that straightforward. There’s a double digit jump in home loan sector derived from loans of lesser than 25 lac in value. Affordable housing sector alone contributed 30% of the total procurement. 33 percent overall surges in home loan over a year earlier.
There is also another report which far from the original which said that there was a decline of one per cent in the number of home loan disbursements of over Rs 25 lakh in value. It can be mentioned as a slowdown anyhow, even though the margin is negligible. Up till now this calculation stands less than a fourth of the total number of home loans disbursed. Especially, the share of loans of more than Rs 25 lakh, disbursed for home loans came down to 24 per cent from 30 per cent the prior year. This holds solid and glaring that in 2016-17 a higher number of people preferred to seek loans of minor denomination, in comparison with 2015-16. Also, regardless of a decline in the number, the total number of loan disbursements during the year raised 23 per cent.

Speaking about the low budget flats under PMAY, it’s foreseen with this pace of project development it’s impossible for affordable housing sector to meet the deadline of 2022. Both the rural and urban projects under central government flagship are mostly on calendar. Even 30% of the project development is not accomplished in a right manner. Low-budget flats in Kolkata and its outline areas are yet to be materialized. Between FY 2016-17, a new trend has been observed in home loan disbursement sector i.e. - a huge slog of 48 per cent in the number of loans of up to Rs. 2 lacs which is also an upshot of government’s push to promote ‘Housing for All by 2022’. In this horse race luxury housing sector has been constantly encountering lower market demand successively. New project launch and luxury property sale have been notably reduced post GST. Yet mid budget flats, those are ranged under Rs. 50 lacs are still in demand. But residential properties with price tags of Rs 1 crore and more are detectably going under on-hand inventory category. These hi-end properties are mostly from the tier I cities.

From its inception till now affordable housing sector has been the centre of the attention of the administrative policies. Accordingly, the developers have been directed towards the development process of budget housing instead of luxurious one. Thus, there is a decline in contention for hi-end residential developments.

-LNN (Liyans News Network)

Bombay High Court Ordered Builders To Be Registered By July 31

Bombay high court (the Nagpur bench) has directed a group of builders to comply with a July 31 registration deadline under Real Estate Regulation and Development Act (RERA), 2016. What happened was a group of builders have applied for the extension of the month end deadline set under the revised Real Estate Act.

After hearing a petition filed by four builders, who questioned the constitutional validity of certain strict and frivolous provisions of the new law which according to them shouldn’t be applicable for the projects that have started before RERA had come into frame and at under-constructional stage.
Against which the union government mentioned in an affidavit that RERA is not against constitution nor it is a retrospective application as ongoing projects are not complete. The centre in its affidavit also said that "The Real Estate Act does not envisage penalty for violations prior to the commencement of the Act.'' The Real Estate Regulation and Development Act (RERA), 2016 was passed in March 2017. Builders have been found largely belittling its legal importance.
Limited percentage of builders has registered under RERA as of now, while the deadline is just at approaching stage. Government also highlighted that the provisions of RERA where it clearly cited that the responsibilities of the promoter and related penalties for the violation. All these were declared nationally from May 1 and accordingly developers should get registered by far. Already the government has allowed 3 months extension period for the registration purpose.

As per the last update a division bench of Justice Bhushan Dharmadhikari and Justice Rohit Deo allowed petitioners — Swapnil Promoters and Developers, Swapnil Associates, Sukhyog Construction and Guru Construction — to revise their petition within a week and adjourned the matter to August 21 for additional hearing.
Senior counsel Mr. Sunil Manohar, who appeared for the developers, said that the developers would comply with the registration deadline for sure but the state should not take intimidating action against the developers. Additional Solicitor stated that if there were no breaches, for instance, "if the builders didn't issue any advertisements or take flat bookings from customers, there would be no question of taking any action".

According to the petition, the provisions where it is stated that opening an escrow account and maintaining 70% balance for the existing project development is against real estate sale and it’s unconstitutional as well from the perspective of real estate business development.

“People who want to buy property in Kolkata incoming days must have to check few things before coming to any agreement with the builders for instance they need to check whether the project and the developer is registered with RERA authorities and having a valid registration number. It’s also recommended for their better security to crosscheck developers’ and realtors’ track record on the state RERA website. Buyers are also advised to be sure about the project’s authentication such as whether the project has received required certificates from several authorities or not for their better security,”- said Mr. Mahesh Somani West Bengal RERA & Realty expert.

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Few Important RERA Revelations

Projects that have completed the construction part, yet to set up the promised amenities won’t be eligible to the have Occupation Certificates. There are total 82 of such ongoing projects in Noida and Greater Noida location as per the sources. Both states are trying to safeguard those projects that have been issued or applied for occupancy certificates from RERA realization. These builder projects won’t be under Haryana RERA ambit. Unchanged criteria of ongoing projects would have created a huge problem. Several groups’ of homebuyers were on the verge of filing petitions in court. This indicates a large number of ongoing projects will fail to obtain the benefits of RERA as these projects won’t be required to register.

State RERA rules of Haryana have kept out massive numbers of ongoing projects of revised RERA regime. Out of 90% ongoing projects belong to Gurugram. Noida City holds the top position, in worst deliverance of the projects. Market experts hope a little difference in Gurugram as both UP and Haryana government have used same yardsticks for under construction projects which are supposed to be come under their state Real Estate (Regulation and Development) Act. This appears to be a big-time difference with the central RERA regime. Central RERA rules made it clear that no project can be dispensed without completion certificate. In Gurugram 90% of the estimated projects (flats/houses) approx 1.7 lac units are in several completion stages of development. These projects have either received the completion certificates or have applies for the same. Sources have also revealed that many of these projects have got part-completion (also an occupancy paper). These projects won’t be part of Haryana RERA. Part-completion doesn’t make the project to be counted out from RERA.
In a real estate project if any tower is under construction and other towers are complete, builder has to apply for separate completion certificate for the under-construction tower. This is supposed to be the most discernable dilution of central RERA Act. Buyers are extremely unhappy with the state government’s rule as it favours the builders where the main issue of the state has been delayed project deliverance.

“Shunning or diluting central law dents the fundamental purpose of RERA implementation. RERA aims at how well the buyers’ rights get protected throughout the entire real estate transaction starting from property selection to the deliverance. Real estate sector dwelling with negative market sentiment, majorly for the delayed deliverance and abrupt change is course of actions by the builders. Inferior quality of the construction or dearth of amenities- these are the most prominent accusations among the others. As West Bengal is on the verge of RERA notification, buyers keep on questioning us whether the state RERA will do complete justice in order to protect the buyers’ rights.”

Dilip Bose, a retired defence professional said, “I have purchased a property in north Kolkata in Feb’ 2016, which was supposed to be delivered by this year June. The developer is constantly holding us up saying he has not received the OC from the state RERA authority. Under this circumstance I doubt how far RERA will be effective to safeguard buyers’ rights”.
Alike Mr. Bose the entire real estate market is in vague whether RERA will be that powerful to provide unbiased judgement to the buyers. Let’s just wait till July 31.

-LNN (Liyans News Network)

RERA To Curb Activities of Real Estate Agents

State Government of Karnataka has submitted state RERA regulation. Over the preceding years property price has been blown up and set out of mass reach in cities like Begaluru, Pune, Delhi and Mumbai. This occasion had given birth of too many brokers with trivial knowledge of real estate, who used to operate quite smoothly and blossomed in their respective business as well. Now, their business might undergo some serious setback post RERA age. These small time brokers and developers are the sole causes of ill-portrayal of Indian real estate to the global real estate.

The state RERA rules highlights that, not only projects, it’s also mandatory for the realtors to get registered under RERA authority, in three months starting from July 10, 2017. Defaulters will be punished under state RERA regime. They will have to comply with the governmental ruling and intervene to up and continue their realty practice. Earlier, they used to be indispensible especially when the requirements are up for residential ones. They used to draw high commissions and overcharge the potential homebuyers.

Registration with the regulator is obligatory because only registered real estate agents can only survive their business practice. In this way they would be accountable for their business activities. RERA will publish registered and rejected application on its website, as part of the rule.

RERA will set the realty business free from fraudulence 

Some industry experts say that Karnataka RERA rules aim to protect buyers’ rights on large scale and retrieve more transparency into real estate industry. It’s calculated that about 70% of the brokerage firms will close down their business or will merge with relatively large real estate companies with experience of 2-3 years in realty practice.  Most of the agents are turning away registration, as they are finding RERA rules hard-wearing. It’s because of the market slowdown these agents ruled the business. The penal factor of RERA has made the situation even tough. RERA will clog all possible easy ways for the brokers and developers to reach up to the latent customers.

According to a statistics about 10 lacs real estate brokers in real estate are neither registered nor regulated. Many of them don’t have any real estate business background and under qualified for this business. These agents used to have their own sales agenda in fleecing their customers. Lack of proper regulation indulged them in doing their own. Now, under RERA only registered brokers are allowed to carry keep up their business.

Real estate will be no longer considered as a sector of unprofessionalism 

Taking advantage of real estate ignorance of the clients won’t be spared under RERA stricture. Homebuyers will be thoroughly protected in every available service from the brokerage sector. New rules will swipe away non-credible brokers from the realty business. Brokers will have to discontinue their business if found guilty under new regime.

_LNN (Liyans News Network)- Buy property in north Kolkata and avail 7.5% post GST discount. Visit our online property portal to have detailed information about such properties. Enrich your home-buying experience with us.

For Smart City Projects It Requires Bigger Contribution From The Architects

Property demand might wave under the flagship of the smart city project. But, execute this mammoth project; it requires well-skilled architects in bulk. Presently, the country needs creative and ambitious input from the best architects of the cities. Recently a seminar held in the capital on ‘Redefining Indian Sustainable Smart Cities’, which was attended by noted architects and market experts. Architects don’t only have major roles in planning the entire project, but they will also make sure the plan is full-proof to take away future issues. The seminar was organized by Outokumpu India, a Finland-based Stainless steel giant.

Government has selected 100 cities for ‘100 smart city mission’ for this massive project. A sincere execution of this project can boom the entire real estate market. Smart city projects are having all the technical and engineering support, but architects are missing from the upcoming projects in the country, which is major concern of the market players at present. Speaking of smart cities, Kolkata got to know about the smart city concept with the inception of the flats in Rajarhat.

Architects have a significant role in forming the model of the smart cities, keeping in mind major bullets such as increasing population and abrupt changes in climatic condition. For solving these potential threats, the Council of Architecture (COA) is setting up five research training institutes (architectural colleges) in Delhi, Bangalore, Mumbai, Bhopal, and Bhubaneshwar. These advanced colleges will be having model making labs and climate labs, for catering better knowledge in architectural studies. Presently, 90% of architectural colleges don’t have this kind of lab facility, as it’s a costly affair.

A model smart city should be having basic infrastructure like- clean water supply, proper sanitation system, urban transport connectivity and digitally sound public security with long-lasting effect. Stainless steel would be the preferred material for building construction and durability within budget. Using high-quality stainless steel will bring down the future maintenance cost. Not just high-quality buildings and aesthetics smart city project is aiming to groom the poverty level, employment sector, greeneries, social amenities and related services for maintenance.

-LNN (Liyans News Network)- Enjoy huge discount on luxury properties under the category of  residential property sale in Kolkata available under www.liyans.com. Increase your savings with your home buying. Visit us for investing in upcoming smart projects in Kolkata. 

Still in Doubt Regarding RERA Stipulation? Banks Seek Further Collateral From The Builders

Leading market players such as ICICI, State Bank of India and Yes Bank are seeking additional pledge on housing loan disbursement to the realty developers. In some lending agreements banks asked the borrowers to avail the loan against their personal property mortgage. Banks are worried that the new real estate law might impact their existing set of home loan terms and conditions.

What’s collateral?
In lending agreements the term ‘collateral’ is referred as secure lending. It’s an asset-based lending. Under any circumstance if the borrower defaults the agreement, in terms of repayment of principal or interests, bank has the authority to seize the respective property. Collateral must be equal or greater than the loan or credit extension amount.

What RERA suggests-
As per the revised law of Real Estate (Regulation and Development) Act, 2016 (RERA), a developer should maintain 70% money received from the home buyers in a separate (escrow) account. This would allocate only 30% of the sales proceeds. Earlier on, builders used to jumble this entire collected amount for other project development. RERA will finally uproot every tangle from the inception.
Now banks are considering that following this strict regulation might lead to violation of RBI preset provision rules. In one of such cases, a reputed Mumbai-based builder, who borrowed certain amount through a consortium of banks and other non-banking financial companies (NBFCs), might put in the soup. The developer had pledged his upcoming G+5 residential project as collateral and the lenders had full control of sales receipts. After RERA, additional collateral option in a project has become extinct.

“Under RERA regime a developer needs to put up his personal belongings/immovable asset as collateral rather than any of his real estate ventures. Definitely, he will be asked to give his personal guarantee, - said West Bengal RERA and realty expert Mr. Mahesh Somani.

What banks have been directed to?
The authority mailed ICICI, SBI and Yes Bank. As per the latest update banks didn’t respond to the same. Speaking on the same banks said that it’s too early to opine on this matter. Quoting the comments of the CEO of HDFC, “30% of the sales proceeds over which lenders have right, is only towards the principal repayment by the developer while interest is to be serviced out of the balance 70%. Even though lenders had access to 100% of the sales proceeds prior to RERA, they hardly used the entire sum."

The leading property portal in Kolkata banks will soon modify their existing norms as per RERA stricture. Yet, banks don’t want to reveal their policy. Mortgage lenders are worried if their projects get stuck under RERA. Lenders including NBFC and PE firms are thinking of ways to defend this unexpected risk. There are many instances where banks have invested with a buyback security or an option of converting debt to equity and approving part of the project. In a bid to import transparency to the realty sector RERA is going to make loan conditions difficult, expected by the market trackers.

LNN (Liyans News Network)
  

Developers To Put To Use Precast And Dry Well Systems To Speed Up Affordable Housing Project

Big news for budget homebuyers more volume of affordable projects are going to hit the market in no times. It’s not that government has approved more projects than scheduled. It’s for meeting the timeline of central government flagship project ‘Housing for All by 2022’. In order to develop comprehensive projects, now developers are aiming to use up new construction techniques like aluminium shuttering, precast concrete technology and fast drying systems to deliver projects within the specified time limit. Thus, it’s predictable that along with the other metros residential property sale in Kolkata will also speed up. Highlighting Kolkata as property price in Kolkata is cheaper than the other states, coining which Kolkata holds the capacity to lure the investors from various blocks of the income brackets.

Property consultant company Colliers International suggests that particularly after the Real Estate Regulatory Authority (RERA) Act underlines timely deliverance of projects, developers are considering advanced techniques and automation for rapid development of their respective projects. Adoption of modern technologies will help them to a greater extent for timely deliverance and well as top keep going under stringent RERA norms. Delay in deliverance will cost them greater than their business.

Buyers now demand fast completion of a world-class quality project against their investments. Besides, the growing need for commercial properties side-by-side the residential ones also insists faster development of the due projects. Thus, it has become the need of the moment to use advanced construction materials and mechanism to meet the market demand. The construction business in India is presently on the verge of taking up new technology, digitization, advanced materials. Artificial intelligence is the latest addition in the block. It has the potential to singlehandedly sort out all-inclusive issues of the development process. These technologies are not only economical but reduce the input of extensive manual labour, advanced earthquake resistance, more durability than traditional constructional process such as- higher carpet area, smooth finish on walls and lower on continuance..
Sources say that about 2 million affordable homes are yet to be built under PMAY scheme across the country and all these need to be completed within 2022 withal.

The entire development needs to be certifiably durable so that affordable housing sector can attract heavy investment and bring realize bigger success to union government’s one of the most ambitious projects till this time. Many private developers have started using these technologies to finish their affordable housing projects and to boost this noble initiative of the government for providing homes to the homeless and economically weaker section of the society. Experts say that today’s affordable housing is tomorrow’s big ticket. Affordable housing is currently going through the roofs with government’s incentives and reduced home loan interest facilities. It’s also discounted from GST ambit. There is also significant (20-25%) growth in housing loan business coming from the demand of apartments priced under 30 lacs.  Currently, developers are full of hands with attractive options of budget apartments.


-LNN (Liyans News Network)

Realtors Demand M-sand Production To Snowball

Private players are facing major criticism for reducing the production volume of river sand (M-sand) from the entire realty market of Coimbatore.  This time construction contractors and realtors association have accused manufacturing companies and relatives authorities for the same. As per the latest market statement the supply of M-sand has dropped from 40,000 loads of sand to 4000 per day.

The prime reason behind this shrinkage in supply is limited numbers of manufacturers in the region. Sources say that, there are not more than 12 local manufacture companies of M-sand in the area.  In a press conference subjected to the scant production issue president of the Builders Association of India, Coimbatore, K Rajavel said, "Earlier the cost of one load (275cubic feet) was Rs 12,000, and now it costs us Rs 35,000. While we are with the state government in trying to regularise the sale of river sand, we urge the chief minister to regularise the manufacturing of M-sand too."

In Coimbatore the total production capacity of M-sand is 50 loads as revealed by the president of the Coimbatore Civil Engineers Association R Karthick. Apparently this production is insufficient to serve for Coimbatore region. In comparison to Coimbatore other states are manufacturing greater volume of M-sand. Using M-sand is better than using natural river sand in the construction process. River sand is really useful for plastering purpose. M-sand (Manufactured sand) is perfect alternative river sand which eventually dries up fast. Again M-sand is cheaper than river sand (Rs. 2000 for 100 cubic feet).

Now, realtors of Coimbatore are unable to purchase M-sand from the next-door states as they are legally bound by the Mines Act. Thus, the only way to fulfil the requirement of the state is to make better the production volume of districts and the states. State government should intervene in this matter as soon as possible to standardize and the licensing the production process as well.
Depending on the capacity it requires 5 acres of land and 3-5 crore investments on machinery, materials and man power. It’s not that there is shortage of mining in the state. On an average 100 people from different districts are willing to set-up manufacturing units and they are waiting for the state government’s single nod.

Realtors confirmed that this matter is already on the table of the state ministry and the chief minister of the state has promised to check out this matter. Former chief minister J Jayalalithaa announced that M-sand can be used for the construction purpose of offices and PWD buildings. Currently, the realtors are facing problems regarding mining, environmental clearance and power permissions. In a bid to aware the state government to their demands, the realtors’ associations will march from the Womens' Polytechnic College to VOC Park and meet collector T N Hariaharan and place their demands.
-LNN (Liyans News Network)- Browse our online property portal if you are interested in buying flats in Rajahat. Only in Kolkata we are having the best wide range of listed luxury properties in Rajarhat. Have a close look at the lifestyle apartments/penthouse/ bungalows in Rajarhat.

No 5-Years Lock-In Clause In DDA Housing Scheme 2017?

It seems that dark clouds of worries to be dispersed soon for people who bought homes under the Delhi Development Authority's 2014 housing scheme. DDA is likely to allow its existing buyers for selling apartments without going through the drawn-out process of 5-years lock-in clause.
 The land legacy officers lately revealed to the sources that a proposal discontinue the lock-in period for resale of flats will be on the table in no times. Sources also said that the Delhi Development Authority has decided it might abdicate the lock-in clause for its upcoming, revised housing scheme of 2017. The five year waiting period was introduced in 2014, to ward off speculators and property investors from applying for allotment of apartments, exempting them instead of actual home seekers.

JP Aggarwal, principal commissioner, land disposal and housing, DDA, confirmed on Tuesday July 4, 2017, that the agency was well-informed related the demand to drop the clause from the contracts of the 2014 allottees and that a meeting to realize similarity between the two housing schemes would look at the proposal.
Regarding the new plan execution Aggarwal said, "Under the earlier contract, the allottees were required to pay 10% of the total cost after a period of five years. If the lock-in clause is removed, they will have to pay the amount right away."

It’s an open secret that allottees of the same area are having major grievance against authority for inferior basic civic infrastructure in these colonies. These people are dealing this severe negligence of the authority as they are contract-bound under DDA Housing Scheme, 2014. In case, the lock-in clause is reversed, then the people who were allotted flats will have to straight-way pay 1.33 lacs (approx). This would add some major woo to their existing sufferings.
Residents of Rohini and Narela, where the most numbers 2014 flats are located, are considering taking this matter to the central housing ministry as they feel that government need to intervene and take onus of the infrastructural development in and around the complex. There are no local markets; the approached roads are in also bad in shape, no street lights. Thus, the area is turning really unsafe in the evenings.

Apart from this, residents are suffering from poor quality of drinking water. Till date the water is being supplied through tankers. There is no permanent solution of this water issue. The authority should install property water treatment plant before sanctioning application of the new allottes. On which, Mr. Aggarwal confirmed that the appointed engineering wing is already started working on the water supply issue in these mentioned areas. He also confirmed that before new allotment water issue will be resolved. Residents also complained that due to awful condition of the infrastructure property price in this area has not increased a bit in the past 2 years. They now want DDA to adjust their repayments and give concessions.

-Liyans News Network (LNN)- Buy luxury residential properties in your favourite location in Kolkata with huge price off. Find on discount luxury properties under residential property sale in Kolkata category of our online property portal. Over 3 lac+ listing across 100+ cities.