March 12, 2021 - CREDAI Bengal Homes
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
March 12, 2021
CREDAI Bengal Daily News Update | 12.03.21
WEST BENGAL NEWS
Newspaper / Online ET Realty (Online)
Date March 11, 2021
Link https://realty.economictimes.indiatimes.com/news/industry/hidco-to-
allot-22-plots-for-bengal-silicon-valley-project/81445860
HIDCO to allot 22 plots for Bengal Silicon Valley project
The expression of interest was floated last month in which it was said that interested tech
companies will be able to start applying online after an initial period of 30 days from the
date of publication of the notice.
The online plot application for Bengal Silicon Valley in New Town started from Wednesday. A
total of 22 plots covering 63 acres will be allotted in the sixth phase.
A Whatsapp helpline no (8334903379) has also been introduced. Following the decision taken in
the state cabinet meeting earlier, the Housing Infrastructure Development Corporation (Hidco)
put up the 22 plots for online allotment.
The expression of interest was floated last month in which it was said that interested tech
companies will be able to start applying online after an initial period of 30 days from the date of
publication of the notice.
Hidco has already handed over allotment letters to several organisations whose applications to
get plots at the Bengal Silicon Valley in its phase 2 and phase3 was earlier approved.
Some of these companies are Indian Statistical Institute, SAMEER, WBEIDC, Skymap Global
India Pvt Ltd, Vikram Solar Ltd and others.
Officials said that the online allotment of plots has been introduced to make it hassle free and
speedy. Interested industry, entrepreneur and start-ups can now apply online for setting up tech
industries including IT, IT enabled services, robotics, artificial intelligence, Internet of Things
(IOT), telecom, genetic engineering, bio-technology and others.
________________________________________________________________
OTHER NEWS
Newspaper / Online ET Realty (Online)
Date March 11, 2021
https://realty.economictimes.indiatimes.com/news/allied-
Link industries/cement-prices-up-4-in-march-as-demand-from-infra-and-
real-estate-pick-up/81445696
Cement prices up 4% in March as demand from infra and real
estate pick up
“Companies are more concerned about incremental volumes. So, the announcement of large
price hikes in the coming days could be just to push more volume at existing rates,” said
Binod Modi, research analyst, Reliance Securities.
The Centre’s infrastructure push, a pick-up in real-estate demand and industry consolidation have
helped drive pan-India cement prices by around 4% in the first week of March. Prices climbed
around 18% in the south and 11% in the west.
“Companies are more concerned about incremental volumes. So, the announcement of large price
hikes in the coming days could be just to push more volume at existing rates,” said Binod Modi,
research analyst, Reliance Securities.
Demand remained firm as continued traction in infrastructure building, affordable housing and
rural consumption drove volumes, Modi added.
The cement industry is beginning a new cycle, said a report by Morgan Stanley on Wednesday.
“The current cycle should be supported by both pick-ups in the CAPEX cycle and upturn in the
housing industry. We expect cement demand to increase at a CAGR of 9% over F21-23 (in line
with real GDP growth) and believe that demand could surprise positively,” the said analysts
Gaurav Rateria and Mukund Sarawogi in a report by Morgan Stanley.
While the West and East saw average price hikes of Rs10-20/bag, prices rose by Rs5-15/bag in
North and Central regions and Rs20-30/bag in South. Dealers indicate companies may announce
further hikes in the coming days to ensure the sustainability of the current increases, given year-
end pressures to achieve volume targets, said ICICI Securities in a sector research report on
Tuesday.
On a year-on-year basis, Q4 FY21 prices are up 15% in South, 8% in West, 2-3% in North /
Central regions and are still down 3% YoY in East.
Except for the South, dealers expect prices to sustain in other regions.
Price increases are also attributed to an increase in input and logistics cost.
“Petcoke prices are up 6% QoQ, international coal prices are up 48% QoQ and average dieselprices are up 9% QoQ,” said Devesh Agarwal, a research analyst from IIFL in a report on Monday. The strong demand momentum could offset the impact of subdued prices. We maintain our positive stance on the sector, he added. Analysts expect the cement sector to post strong earnings growth at more than 30% YoY in Q4 of FY 2021. “Industry likely to post highest-ever quarterly volumes of around 105mnte (our estimate) with 20-22% YoY growth during Q4FY21E implying ~85% pan-India utilisation,” said the ICICI Report. Morgan Stanley has raised FY 23 earnings estimates up to 13%, driven by better realization/margin assumptions, and are 4-15% ahead of consensus. ________________________________________________________________
Newspaper The Telegraph Date March 12, 2021 _________________________________________________________
Newspaper / Online ET Realty (Online)
Date March 12, 2021
https://realty.economictimes.indiatimes.com/news/residential/boost-
Link for-self-redevelopment-societies-can-now-take-housing-finance-
loans/81460443
Boost for self-redevelopment: Societies can now take housing
finance loans
This is for the first time that cooperative housing societies have been allowed to borrow
from housing finance companies (HFCs).
In a major boost to self-redevelopment of cooperative housing societies, the Reserve Bank of
India (RBI) has included them in the list of allowed borrowers for housing finance loan.
This is for the first time that cooperative housing societies have been allowed to borrow
from housing finance companies (HFCs). Earlier, societies in Mumbai could obtain loan for self-
redevelopment only from the Mumbai District Co-operative Bank.
In a master direction issued last month the RBI said, “Housing finance shall mean financing for
purchase/construction/reconstruction/renovati-on/repairs of residential dwelling units which
includes loans to individuals or group of individuals including co-operative societies for
construction/purchase of new dwelling unit.”
Activist Chandrashekhar Prabhu said it is good news as it would encourage more societies to take
up self-redevelopment. “There are 150 HFCs registered with the RBI many of whom have loaned
to builders who have defaulted and these companies have lost money. It would be safer for them
to lend to housing societies. HFCs can take money from National Housing Bank and disburse this
to housing societies,” he said.
Prabhu said that he would urge the RBI to further allow nationalised and private banks to lend
directly to cooperative societies for self-redevelopment. “Today, no rule stops banks from loaning
to housing societies, but the problem is that in case of default who will be responsible. The
government seems apprehensive about these societies when they are the safest to lend to as they
are middle-class people and will not default,” he added.
Scarcity of open land means that Mumbai can now develop only through redevelopment.
The current template of developer-led redevelopment is a failure, often not delivering the
promised homes, and definitely not in the volumes required. Self-redevelopment appears to
be the panacea. The authorities must tweak the financial ecosystems to align to this new
reality.TimesView
But Salil Rameshchandra, president, Federation of Grantees of Government Land, said the RBI
needs to do more. “Many societies are in need of redevelopment, as their plot size is small, no
builder is interested. The RBI must prepare guidelines on how non-banking finance companies(NBFC), HFCs and all banks can provide support to such societies.” On the likelihood of societies defaulting on repayment, Rameschandra said it is very unlikely as residents would be the biggest losers if they do not redevelop in time. “The norms for housing societies need to be more relaxed than what they are for builders. The RBI needs to look at the changing housing scenario and make guidelines accordingly,” he suggested. ________________________________________________________________
Newspaper / Online ET Realty (Online)
Date March 12, 2021
https://realty.economictimes.indiatimes.com/news/residential/share-of-
Link studio-apartments-supply-in-top-cities-dips-for-first-time-in-seven-
years/81450991
Share of studio apartments supply in top cities dips for first time in
seven years
For the first time in the last seven years, the share of studio apartments in total supply has
declined to 15%, truncating the uptrend witnessed across major Indian cities due to
preference for compact apartments, showed data from Anarock Property Consultants.
Amidst rising demand for relatively bigger size apartments led by the COVID19 pandemic
realities, property developers’ focus on compact studio apartments, which had emerged as a
favourite option among urban millennials in the last few years, has come off.
For the first time in the last seven years, the share of studio apartments in total supply has declined
to 15%, truncating the uptrend witnessed across major Indian cities due to preference for compact
apartments, showed data from Anarock Property Consultants.
In the backdrop of spiralling demand for such configurations by both single and married
millennials in top cities, developers increasingly launched projects that offered these in the last
seven years. The share of these apartments across the top seven cities had risen to 19% in 2019
from mere 4% in 2013. But in 2020, the scenario changed with the pandemic denting its growth
string.
“If we look back at previous years, out of the total 2,102 projects launched in 2013 in top 7 cities,
just 75 projects or 4% offered studio apartments. The share increased to 5% in 2014 and
henceforth we saw an on-year increase in the overall share of projects that offered these until
2019 when the share stood the maximum at about 19%. It was only in 2020, probably impacted
by the new pandemic realities - that the overall share dipped to 15%,” said Anuj Puri, Chairman,
Anarock Property Consultants.
The city-wise trend clearly reveals that the concept of studio apartments is more of a western
region phenomenon with Mumbai Metropolitan Region (MMR) and Pune bucking the trend.
"Over the past few years, due to heightened real estate prices across MMR, homebuyers have
preferred to settle for studio or smaller ticket-size apartments. However, the pandemic has
completely transformed the decision making rationally from the perspective of quality of living.
The value of owning a home has come to the forefront and this coupled with attractive real estate
prices, low interest rates, reduced stamp duty and registration charges, work from home culture
etc have resulted in a shift in home buying trends,” said Deepak Goradia- Vice Chairman and
Managing Director, Dosti Realty.
According to him, the demand for 1 BHK and 2 BHK homes has increased significantly. Even
among second time homebuyers, the aspiration levels have increased greatly pushing the averageticket size of property upwards. Out of the total 884 projects launched in 2020 across the top 7 cities, nearly 130 projects offered studio apartments forming 15% share of total supply. In contrast, 2019 had witnessed total launches of 1,921 projects, of which 368 projects or 19% offered studio apartments. Of the total project launches with studio apartments in all top 7 cities between 2013 and 2020, MMR and Pune together comprised a whopping 96% share. In contrast, southern cities including Bengaluru, Chennai and Hyderabad didn’t really catch on this frenzy and saw the launch of just 34 projects during the same time period. Property prices and affordability are the key factors driving this preference or acceptance among homebuyers. By definition, a studio apartment has a single large room combining a living room, a kitchenette and a bedroom. Only the bathroom is separated by a wall. Such apartments are usually preferred by bachelors, students, newly married couples or even those business travellers who frequently visit a city for work. Despite being small in size, studio apartments became the favoured option for many with smaller budgets but preferring to live in proximity to key employment hubs. This drop in share of these apartments can also be related to the fact that 2020 was the year when demand for bigger homes began to rise substantially amidst the new pandemic realities of the Work from Home model and online education. Resultantly, developers changed their offerings to suit the new realities and hence curtailed the supply of studio apartments across cities. ________________________________________________________________
Newspaper / Online ET Realty (Online)
Date March 11, 2021
https://realty.economictimes.indiatimes.com/news/industry/over-4700-
Link conveyance-deeds-authorisation-slips-issued-under-pm-uday-till-feb-
26/81445527
Over 4,700 conveyance deeds, authorisation slips issued under PM-
UDAY till Feb 26
Puri said the Delhi Development Authority received 61,184 applications on PM-UDAY
portal for grant of rights under the scheme till February 26, out of which 23,884 have been
processed and 12,959 disposed.
A total of 4,731 conveyance deeds and authorisation slips have been issued under the Pradhan
Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY) till February 26,
Union minister Hardeep Singh Puri told Rajya Sabha on Wednesday.
In a written reply to a question, Puri said the Delhi Development Authority received 61,184
applications on PM-UDAY portal for grant of rights under the scheme till February 26, out of
which 23,884 have been processed and 12,959 disposed.
"Delhi Development Authority has informed that as on 26.02.2021, 4,731 conveyance deed and
authorisation slip have been issued under Pradhan Mantri - Unauthorized Colonies in Delhi Awas
Adhikar Yojana (PM-UDAY) Scheme," Puri said in the reply.
Under the scheme, people living in unauthorised colonies can apply for ownership rights of their
properties.
The procedure for submission and processing of applications is simple, information technology-
enabled and available online, Puri added.
In 2019, the Union Cabinet had approved a proposal to grant ownership rights to people living in
unauthorised colonies. Later, Parliament had passed a bill to grant ownership rights to the
residents.
Later, the Central government had introduced the PM-UDAY scheme, under which people living
in these colonies can apply for ownership rights of their properties.
________________________________________________________________Newspaper / Online The Economic Times (Online)
Date March 11, 2021
https://economictimes.indiatimes.com/industry/services/property-/-
Link cstruction/swamih-fund-approves-rs-165-crore-for-greater-noida-
project/articleshow/81452169.cms
SWAMIH Fund approves Rs 165 crore for Greater Noida project
“We have given consent in relation to dues of the builder which need to be paid to the authority.
A review meeting was called on Wednesday and we will meet 3-4 developers on March 15 to
discuss how can they avail this fund to complete the stuck project,” said a spokesperson for the
Greater Noida authority.
The Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund has approved Rs
165 crore to Capital Infratech Homes Pvt. Ltd, a Greater Noida based developer.
The last mile funding will benefit 900 homebuyers as the fund will help developer to deliver the
450 flats by October 2021 and rest by February 2022.
“We have given consent in relation to dues of the builder which need to be paid to the authority.
A review meeting was called on Wednesday and we will meet 3-4 developers on March 15 to
discuss how can they avail this fund to complete the stuck project,” said a spokesperson for the
Greater Noida authority.
While the impact of liquidity issues was felt across all asset classes, the residential real estate was
the most impacted.
By the end of 2019, nearly 5.76 lakh units (launched in 2013 or before) valued at over Rs 4.64
lakh crore were among the delayed and stalled projects across the seven major cities in the
country, according to ANAROCK Research.
To mitigate this impediment the government has initiated the Alternate Investment Fund (AIF)
with a corpus of Rs 25,000 crore in 2019.
This move was directed towards stressed residential real estate assets under construction which
are yet to be completed, including those that are declared Non-Performing Assets and have been
admitted for insolvency proceedings.
The government’s SWAMIH Fund has already sanctioned Rs 12,079 crore for over 81,000 units
across 123 projects in the country.
According to NAREDCO, developers are now bullish for the growth ahead and optimistic for an
unprecedented recovery.“ While the SWAMIH Fund has done well, there are many stalled and delayed projects, recovery of which will need ramping up of the quantum of the fund as also allowing financial institutions to participate in the process,” said Niranjan Hiranandani, National President, NAREDCO. ____________________________________________________________________________________________
Newspaper / Online ET Realty (Online)
Date March 11, 2021
Link https://realty.economictimes.indiatimes.com/news/regulatory/bengalur
u-civic-body-gets-ready-to-rake-in-a-property-tax-bonanza/81445770
Bengaluru civic body gets ready to rake in a property tax bonanza
With Rs 2,606 cr in the bag, Bruhat Bengaluru Mahanagara Palike likely to collect more
tax this year than the last
The Bruhat Bengaluru Mahanagara Palike (BBMP) has always been chided for lagging behind
when it comes to implementing welfare schemes or keeping the city clean. But, for the first time,
it seems all set to overachieve in one department -- property tax collection.
The BBMP had fixed Rs 3,500 crore as its target for property tax collection from around 18 lakh
properties in Bengaluru for 2020-21. With the lockdown due to the Covid-19 pandemic, a huge
shortfall was expected in collection of property tax but the civic body has successfully collected
Rs 2,606 crore till March 9, 2021 from April 1, 2020. The collection of property tax was Rs 2,659
crore (76 per cent) against the target of Rs 3,500 crore in the financial year 2019-20.
The BBMP has already achieved 75 per cent of the target at Rs 2,606 crore for the financial year
2020-21. It is expected to collect more than Rs 50 crore in the next 20 days (till March 31) to
surpass the total amount of property tax collected during the last fiscal year.
“The success in collecting property tax is due to conducting weekly meetings with the revenue
department to monitor the progress of the tax collection. The BBMP has prepared a list of top
100 defaulters of property tax and taken measures to collect the arrears,’’ said BBMP
Commissioner N Manjunath Prasad.
Among the eight zones of the BBMP, Mahadevapura Zone tops the list at Rs 7.16.25 crore, while
the East Zone is in second position at Rs 500.23 crore, South Zone in the third place at Rs 388.16
crore, West Zone Rs 269.08 crore, Bommanahalli Rs 266.54 crore, Bommanahalli Zone Rs
266.54 crore, Yelahanka Zone 218.69 crore, Raja Rajeswari Nagar Rs 175.77 crore, and
Dasarahalli Zone Rs 71.45 crore.
A recent pre-Budget meeting attended by former Mayors and others had advised the BBMP
Commissioner to focus on collecting property tax and also bringing more properties under tax
net. The civic body had also made an attempt to hike the property tax for residential and
commercial properties between 15 per cent and 30 per cent during the last year but it decided to
put the proposal on hold.
The success in collecting property tax is due to conducting weekly meetings with the revenue
department to monitor the progress of tax collection–Manjunath Prasad, BBMP chief
The BBMP Commissioner said that he had instructed the revenue department to take moremeasures to collect the property tax arrears. “Now, the BBMP can auction immovable properties of the defaulters to recover the arrears. Earlier, the BBMP revenue officials used to auction movable properties to recover the arrears,’’ the Commissioner said. The BBMP Bill 2020 empowers the civic body to recover property tax dues by auctioning immovable properties of the defaulters. “It was not possible for the revenue department officials to recover the property tax arrears from defaulters. The new rule enabling the civic body to recover the property tax arrears by auctioning immovable properties of the defaulters will be a great help for the civic body to collect the tax,’’ he said. ________________________________________________________________
Newspaper / Online ET Realty (Online)
Date March 11, 2021
Link https://realty.economictimes.indiatimes.com/news/residential/launched
-in-2009-yeida-starts-registry-of-residential-plots-now/81445636
Launched in 2009, YEIDA starts registry of residential plots now
Around 11,000 of 21,000 plots are being readied here and the registry process of more than
7,000 plots has already been initiated.
After a gap of 12 years, the Yamuna Expressway Industrial Development Authority (YEIDA) has
started the process of executing registry of residential plots in sectors 18 and 20.
Launched in 2009, the pockets and blocks in the two sectors were developed over the past three
years. Around 11,000 of 21,000 plots are being readied here and the registry process of more than
7,000 plots has already been initiated. The development work is in the final stages in blocks I and
J of Sector 18 as well as blocks A, B, C and D in Sector 20. Work is going on in full swing in
blocks R, S, T and U in Sector 20.
But a number of people who have been handed plots after registry are still struggling because of
a petition in the Supreme Court. A doctor from Faridabad, who has been awarded a 1,000 sqmt
plot in Block C of Sector 20, said, “The Authority has taken from us an enhanced compensation
for paying the farmers. I have spent about Rs 74 lakh since 2009 as land premium and interest.
However, a petition of the Yamuna Authority against a Allahabad High Court order is pending
before the Supreme Court. Till that is decided, there is no way we will be able to start construction
work in our block.”
Situated about 15km away from Pari Chowk ahead of Jaypee Sports City, YEIDA has facilitated
about 5,500 registries in the two sectors. By March 31, the authority is targeting to execute 2,500
more.
Meanwhile, those representing the association of buyers in the Yamuna region have forwarded a
six-point demand to the authority before more registries are carried out.
“The problem is that after the registry is done, an allottee is given three years to complete
construction work. After that, penalties are levied for the delay. Farmer issues in C, D, R, S, T
and U pockets of Sector 20 are yet to be settled and no construction work can take place till the
issues are resolved,” said Safal Suri, a member of the association.
Arun Vir Singh, chief executive officer of YEIDA, said the outcome of the petition was awaited.
“But we will soon hold camps to sort out the problems in certain blocks and facilitate physical
possession to allottees. We want people to settle down in the Yamuna region at the earliest,” he
added.
________________________________________________________________Newspaper / Online ET Realty (Online)
Date March 11, 2021
https://realty.economictimes.indiatimes.com/news/residential/hyderab
Link ad-residents-of-housing-complex-protest-over-insufficient-
amenities/81445822
Hyderabad: Residents of housing complex protest over insufficient
amenities
Residents, gathered in front of the society holding placards to protest. ‘No amenities, no
swimming pool,’ ‘Victims of GHMC, suffering from 12 years’ read the placards.
Residents of a housing society in Moti Nagar, Jubilee Hills, protested against the builder on
Wednesday. They alleged that the amenities promised to them were not fulfilled.
Residents, gathered in front of the society holding placards to protest. ‘No amenities, no
swimming pool,’ ‘Victims of GHMC, suffering from 12 years’ read the placards.
“There was an open land in our housing society, we were promised parking in that land. But now
the land has been registered and sold to another individual,” said Jaypal Singh Nayal , vice-
president of Flat Owners Welfare Association.
Police say they received a complaint from a private individual who purchased the land from
builder. “Some residents removed the flex banner which was raised by the individual who
purchased the land from the builder,” said TP Naidu, sub-inspector, Sanathnagar police station.
Cops said the previous association members agreed the open land would be allocated to an private
individual and residents would get amenities in one floor.
________________________________________________________________www.credaibengalhomes.com on Social Media Families that cook together, eat together, laugh together - stay together. Find a home where you can do the things you love, only at CREDAI Bengal Homes: https://www.credaibengalhomes.com/all-projects/
You can also read
