March 04, 2021 - CREDAI Bengal Homes
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
March 04, 2021
CREDAI Bengal Daily News Update | 04.03.21
Newspaper/ Online Financial Express (Online)
Date March 03, 2021
https://www.financialexpress.com/industry/housing-sales-in-chennai-
Link may-increase-at-least-30-in-2021-prices-may-rise-up-to-5-
proptiger/2205622/
Housing sales in Chennai may increase at least 30% in 2021; prices
may rise up to 5%: PropTiger
On prices, Rangarajan said a significant section of buyers have realised that prices are not
going to go down any further and discount offers offered by developers are also going down.
Housing sales in Chennai is likely to increase by at least 30 per cent this year, while prices may
rise by up to 5 per cent on the revival of demand for residential properties because of lower
interest rates and economic recovery, property brokerage firm PropTiger said on Wednesday.
The new housing supply will also rise this year in Chennai, it said.
PropTiger, which is part of Singapore-based Elara Technogies that also owns Housing.com and
Makaan.com, held a webinar ‘Real Insight– Residential Round-Up 2020 and outlook for
Chennai’s Realty Market’.
“Strong sales velocity is likely to happen in 2021, owing to the fact it took off in 2020 during the
months of July, August and September extending up to the festive season…Minimum 30 per cent
rise in demand is expected,” said Mani Rangarajan group COO of Housing.com, Makaan.com
and PropTiger.
“Broadly, we can see demand inching up to 2019 levels. The economy is gradually coming back
on track,” he told reporters in a virtual press conference.
In terms of new supply, Rangarajan said Chennai might surpass last year’s numbers of 12,380
units much before the year ends.
On prices, Rangarajan said a significant section of buyers have realised that prices are not going
to go down any further and discount offers offered by developers are also going down.
“The price of raw materials is rising. So a reduction in prices will be a challenge for developers leading to stability in them. We won’t be surprised if at this point a certain degree of price appreciation also takes place, to an extent of 5 per cent,” he added. Proptiger and Housing.com Head of Research Ankita Sood said housing sales fell to 10,452 units last year from 16,386 units during 2019 because of the adverse affect of the pandemic. She expressed confidence that sales would bounce back this year. New housing supply declined to 12,382 units in the 2020 calendar year from 13,756 units, Sood said. The average rate of new properties in Chennai stood at Rs 5,228 per sq ft at the end of 2020. In October 2020, Australia-based REA Group has acquired a controlling stake in Elara Technologies. REA Group, which is part of US-based News Corp, operates Australia’s leading residential and commercial property websites realestate.com.au and realcommercial.com.au and owns leading portals in many Asian countries. _____________________________________________________________________
Newspaper/ Online ET Realty (Online)
Date March 04, 2021
https://realty.economictimes.indiatimes.com/news/industry/over-80-
Link builders-in-maharashtra-get-approval-for-in-office-registration-
process/81323567
Over 80 builders in Maharashtra get approval for in-office
registration process
An official in the registration department said the Covid-19 pandemic and the ensuing
restrictions on travel have prompted the move to revive the real estate market.
The IGR, Maharashtra, has allowed 86 developers across the state to register new projects from
the latter’s facilities to ensure less footfall in the registration offices.
The builders would be provided with access to the software of the registration department to
enable the process. An official in the registration department said the Covid-19 pandemic and the
ensuing restrictions on travel have prompted the move to revive the real estate market.
“We plan to scale up the registration by the builders at their facilities to reduce the footfall in our
offices, particularly during the Covid-19 pandemic. We have 86 developers on board and want
more builders to register this year,” state inspector general of registration and stamps (IGR)
Sharvan Hardikar told TOI on Wednesday.
Confederation of Real Estate and Developers Association of India (Credai) national president
Satish Magar, who was among the first to get access to the registration process for his project in
Pune, said it was carried out smoothly without any middlemen and both the developers and the
clients were assured of good service.
Pune Credai president Suhas Merchant said such online registrations was the way to look forward
for the realty market keeping the ongoing situation in mind. “We are happy to see more builders
coming under the ambit of the new process,” he said.
The registration department official said the process was earlier tried with a few developers. A
different software was then used with some pre-conditions like 500 flats to register and a
dedicated BSNL line. “Now with the easing of conditions, more developers can be covered,” he
said.
The official said the entire process would be monitored by their office and there would be extra
checks on the builders who would be provided with the software.
In the meantime, the government is yet to issue any announcement on the Ready Reckoner rate.
The developers have been urging the government not to tincrease the RR rate this time. The RR
rates are usually announced in April. The last time the government announced the rate was in
September 2020.An official in the registration department told TOI that they were carrying out the process of assessing area-wise rates and would be following the usual process. The official said the rates would be ready by March-end, but the government would take the final call on the announcement. ________________________________________________________________
Newspaper/ Online ET Realty (Online)
Date March 03, 2021
https://realty.economictimes.indiatimes.com/news/infrastructure/andh
Link ra-pradesh-government-readies-blueprint-to-develop-suburbs-into-
smart-cities/81307512
Andhra Pradesh government readies blueprint to develop suburbs
into smart cities
In a move that could spur development in urban areas, the government has decided to
develop suburban areas with required civic infrastructure.
In a move that could spur development in urban areas, the government has decided to develop
suburban areas with required civic infrastructure.
The municipal administration department has readied a blueprint to make suburban areas
into smart cities. Interestingly, the state government has decided to offer house sites to the middle
and upper-middle income groups at reasonable prices in the layouts to be readied by the municipal
administration department. The plans will be rolled out after the completion of municipal
elections.
The urban development authorities (UDAs), which used to handle real estate business by readying
layouts with civic infrastructure, would be pressed into resume the business afresh. The UDAs
have stopped handling the layout business despite success in many towns and cities. Sources said
that the UDAs had confined themselves to the regulating authority to clear the plans for the
layouts due to pressure from influential real estate firms.
The urban development authorities had failed to play the role of enforcement authority to curb
illegal and unauthorised ventures by private parties. This resulted in many middle and upper-
middle income groups being duped by fake and illegal real estate firms.
Hundreds of housing layouts that have come up on the outskirts of the existing towns and cities
have remained idle due to lack of civic infrastructure. “The dreams of the middle-class of owning
a house were shattered by the civic bodies which could not act fast enough to expand the
infrastructure in the outskirts, leading to high stress on land values within the towns and cities.
This can be changed only when the basic infrastructure is available in the outskirts,” said Dr
Razaq Mohammed, an urban planner.Chief minister Y S Jagan Mohan Reddy has noticed the gap between the aspirations of the middle-class and the reality with regard to land value, particularly in urban areas. In order to bring down high land prices, the chief minister has directed the municipal administration department to develop layouts to offer house sites to the middle-class on a no- profit no-loss basis. ________________________________________________________________
Newspaper/ Online The Economic Times (Online)
Date March 03, 2021
https://economictimes.indiatimes.com/industry/services/property-/-
Link cstruction/noida-authority-to-take-action-against-developers-for-
delaying-registry-of-flats/articleshow/81313768.cms
Noida authority to take action against developers for delaying
registry of flats
The authority conducted inspection of 18 housing societies and found people living there for 4-5
years without registry, causing revenue loss to the state government.
Noida authority has threatened to take action against real estate developers who have offered
possession to homebuyers without doing the registry.
The authority conducted inspection of 18 housing societies and found people living there for 4-5
years without registry, causing revenue loss to the state government.
“Builders have been asked to complete the documentation in March. The Real Estate Regulatory
Authority (RERA) has also been asked to take necessary action in the matter,” the authority said
in a statement.
Supertech, Mahagun, Aims max, Imperial housing, Antriksh developers, Prateek realtors, Sikka
and Sethi attended the meeting.
The authority has also said that instead of paying dues in one go, the builder can pay the dues
during the registry of flats. Noida authority has given three months time to complete the registry
and will organise camp with the help of revenue department to facilitate the process.
____________________________________________________________________________________________Newspaper/ Online ET Realty (Online)
Date March 03, 2021
https://realty.economictimes.indiatimes.com/news/regulatory/chandiga
Link rh-administration-asks-estate-office-to-report-building-
violations/81314140
Chandigarh administration asks estate office to report building
violations
The administration is pushing for converting leasehold properties into freehold in
Industrial Area, phases I and II, and taking up matter with the ministry of home affairs
(MHA)
The UT administration has asked the estate office to submit a fresh report on building violations
in commercial areas of the city and Industrial Area.
Sources said the report will be part of UT’s fresh proposal to be sent to the central government.
The administration is pushing for converting leasehold properties into freehold in Industrial Area,
phases I and II, and taking up matter with the ministry of home affairs (MHA).
The meeting was deferred on number of occasion due to Covid-19. Before the coronavirus
lockdown in 2020, the matter was also discussed in the meeting chaired by UT adviser Manoj
Parida with the members of Industrial Advisory Committee of Chandigarh.
The administration had last converted leasehold plots into freehold in 1983 in commercial
category. The matter was also taken by up MP Kirron Kher with the MHA and ministry of urban
development (MoUD).
Industrialists are demanding for conversion of leasehold property into freehold in Industrial Area.
Recently, the administration had even conducted survey in Industrial Area for checking leasehold
plots.
The administration had set up Phases I and II of Industrial Area during the 1970s on an area
measuring 147 acres. The plots are governed by zoning and architectural control, which were
prepared as per the conditions prevailing at that time. There are 1,884 plots in both phases, of
which 700 are 1 kanal and above, while there are 443 and 180 plots measuring 10 and 15 marla,
respectively. There are as many as 381 plots of 5 marla.The UT administration had allowed business to business (B to B) activities in Industrial Area and need-based changes in Industrial Area. To meet their requirements, the owners have made changes in the building plans in violation of the byelaws. ________________________________________________________________
Newspaper/ Online ET Realty (Online)
Date March 03, 2021
https://realty.economictimes.indiatimes.com/news/regulatory/hc-asks-
Link telangana-government-to-follow-judicial-procedures-for-new-land-
act/81311387
HC asks Telangana government to follow judicial procedures for
new land act
The Bar Council too expressed concern in the past over the decision of the state in not
allowing advocates to represent the case of the property owners.
The Telangana high court on Tuesday directed the state government and its revenue authorities
acting as revenue tribunals under the new land Act to follow a judicial procedure of notifying the
land owners and relevant parties and hear them before passing any orders in respect of their
properties.
The bench of Chief Justice Hima Koli and Justice B Vijaysen Reddy gave this interim direction
while hearing a PIL petition filed by N Srinivasa Rao from Bhadradri Kothagudem district who
challenged the quick 30-day disposal of all pending litigations over land lying with revenue courts
without notifying or hearing the parties. Kowturu Pavan Kumar, the counsel for the petitioner
said that the tribunals should follow a judicious process.
The Bar Council too expressed concern in the past over the decision of the state in not allowing
advocates to represent the case of the property owners.
Advocate General BS Prasad defended the new system and claimed that thousands of age-old
litigations were meaningfully resolved and people are also happy about the development. “All
objections of the people are also being taken care of,” he said. The bench in its Tuesday order
directed the revenue authorities to notify and hear the parties till the next date of hearing. The
bench however refused to stay the orders already passed by the tribunals. The bench also directed
the state to furnish the details of cases its tribunals resolved in the last few months district-wise.
The case was adjourned to March 18.
________________________________________________________________www.credaibengalhomes.com on Social Media Our actions have an impact on everyone around us, within our neighbourhoods, communities and cities. Today, in the face of the pandemic, the world has suffered and fought together, and through our collection consciousness and resilient efforts we can fight #cancer too!
You can also read
