110 Village flats to be auctioned on May 21

New Delhi: For all those who wanted to buy a flat in the Commonwealth Games Village, here’s the chance. The Delhi Development Authority (DDA) is going to sell tender documents for auction of its two, three, four and five-bedroom flats from April 26 to May 21. They will first auction 110 units to ascertain the market rates for these flats. The reserve price has been kept at around Rs 16,500 per sq ft.

The DDA has around 711 flats with them. “The sale of these documents will take place at Vikas Sadan, INA. While we will receive the documents till 3 pm on May 21, the tenders will be opened by 3.30 pm the same day. Any person who has attained the age of majority can apply. The applicant must not,however, own any residential flat or plot in full or in part on leasehold or freehold basis in the urban areas in Delhi in his/her own name or in the name of their spouses or in the name of minor or dependent children,’’ said DDA spokesperson Neemo Dhar. The tender document can be purchased after paying Rs 1,050.

The flats up for auction are located in Towers 1, 4 and 9 and are two to five bedroom apartments varying in size from 1,443 sq ft to 3,405 sq ft. The land agency is planning to give fully-furnished flats.

“We are thinking of selling these flats along with the furniture that was put in during the Commonwealth Games, 2010,’’ said a DDA official. Flat buyers will have to pay extra for parking space.

Central and state governments and their subordinate departments as well as public sector undertakings can also apply. “They can apply for as many flats at they want but in separate tender documents,’’ said the official. NRIs or foreign nationals of Indian origin may also apply. But an individual can submit one tender only.

The Commonwealth Games Village is spread over 27 acres and comprises 34 towers. The developer, Emaar MGF, has already sold its share of 457 flats and several owners have already started taking possession of their flats except for those who own flats in Towers 5 and 15 as the issue of extra floor-area ratio is yet to be decided by the MCD tribunal.

According to sources, Emaar sold its flats at a price ranging from 11,000 to 13,000 per sq ft. The furniture from these flats is being removed by DDA presently, said officials.

“An individual will have to submit an affidavit, letter of intent and application, earnest money deposit, photographs and copy of PAN card. NRIs will have to give copy of individual passport besides other documents. Once the bids are accepted, a communication shall be sent to the successful bidder and the second stage of earnest money deposit will have to submitted within 30 days. A demand-cum-allotment letter will be issued and the allottee will then have to deposit balance premium before getting possession of the flat,” the official said.

source: http://www.indianrealtynews.com/category/real-estate-india/delhi/

Indian Real Estate Market: One of the Most Lucrative Sectors for NRIs

Indian real estate market is one of the most lucrative sectors for Non-Resident Indians to invest their foreign money. Moreover, this trend will continue for more 4-5 years as the consumption story of Indian real Estate market is not going to get over in near future leading to immense commercial growth prospects that in turn increase the demand for real estate. Although Indian Realty market is facing downfall, it is not correct to say that all cities are experiencing the same situation. It has been observed that some of the cities in India always have good chances of investment and these cities even in worst circumstances would be able to provide good investment returns. One more factor that attracts NRI’s to invest in India is the bigger geographical area. Unfortunately, NRI’s put their money into property prevailing in big cities and metros, but they should be informed appropriately about the outskirts of the big cities and even about the tier-2 cities that offer a great deal of real estate investment in present scenario.

Not only this, but the recent significant depreciation in the value of rupees in respect of dollar/pound/euro has given a profitable chance to the NRI’s to clandestine their foreign earned money into some good  investment plans. However, quite a few times NRI investors face some issues with liaison services in real estate industry, but once these intermediary services will improve more and more foreign investors would be lured to purchase property in India in lieu of high returns.

Foreign investment is also a good sign of growth for Indian Real Estate market as well. In this current state of affairs when the Indian Realty market is experiencing a huge downfall, the foreign investors seem to be the ray of hope. With more and more NRI’s investing in small and even big commercial properties in India, the Real estate market will soon see a huge intensification. It has been observed from past trends that around 70% of foreign investment has been done in residential sector, but according to the Indian developers there are various commercial investment opportunities also existing for the foreign investors who wish to set up a business in India.

However, it has been told by the real estate experts that present time when foreign currency is in appreciation, it is the encouraging time for NRI’s to make some good investment in realty market in India. Office plots, residential spaces and even apartments are easily available for NRI’s.

Indian property developers also have a notion that the downfall of realty market in India is the result of the global meltdown and depreciation of rupee. Their belief is not vague, but they also consider that ambiguities in western economies led to the build-up confidence of NRI’s into Indian market and they are keen on purchasing property here. Their investment is a huge support for Indian Realty market and soon with the rupee appreciation these investments will strengthen the economic situation as well.

source: http://indiarealestatemonitor.com/

Online sanctioning of industrial properties begins

NEW DELHI: The process of online sanctioning of building plans of industrial plots by Municipal Corporation of Delhi (MCD), which was earlier limited to residential properties, was kick started here today.

Briefing about the scheme, Municipal Commissioner K S Mehra said it is for industrial plots forming part of approved layout plan with fresh construction.

Earlier, the MCD had launched the scheme of sanctioning of building plans for residential properties in November last year.

Mehra said that till date 650 building plans for residential plots have been sanctioned online through the scheme. He said the scheme is being accepted well by property owners and architects.

Giving details of the software being used, Manish Gupta, Additional Commissioner (Engineering) said “the software has been developed in such a manner that it automatically scrutinises the submitted building plans with regard to the building bye-laws and Master Plan norms”.

Within one hour, he said, it automatically rebuts to the applicant or architect with errors and deviations in the submitted building plans.

He added that in this system all procedures are hassle- free, without any manual intervention for examination of the building plans as well as charges.

The official website of MCD has a list of architects empanelled online for facilitating owners preparing building plans as per bye-laws. They can also check the status of their application on MCD’s website.

The architects have also been imparted training and guidance regarding sanctioning of building plans online. The facility to deposit the applicable charges online through credit or debit cards has also been extended.

source:http://www.indianrealtynews.com/real-estate-india/delhi/online-sanctioning-of-industrial-properties-begins.html

Upcoming Event in May 2012 (Property Exhibition)

Click the link given below for the exhibition details:

http://www.indianpropertyfair.com/EMSnewsletter.aspx?nid=53

Vascon is committed to delivering green buildings

Vascon Engineers Ltd has more than 25 years of experience in conceiving, developing, constructing and managing varied projects. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.R Vasudevan, Managing Director - Vascon Engineers Ltd talks about the green initiatives by his company in real-estate development and their efforts towards developing green construction technologies. Interview by Renu Rajaram. 

Briefly tell us about Vascon Engineers and the Green initiatives by the company? Vascon is a developer cum contracting company having its headquarters in Pune, Maharashtra. Vascon is considered a top player in the Pune market and has its established presence in 16 cities across India. The company is committed to delivering green projects. Apart from the usual activities such as plantation of saplings, training on sustainable and green buildings etc, The company has constructed the greenest building on earth (at Hadapsar, Pune) and has two IGBC platinum pre-certified buildings under construction- one in Pune and one in Nagpur 

Your comments on Indian Green construction market and the potential for The Indian intelligent building management systems (IBMS) market? Indian green construction market and the IBMS are markets that are growing leaps and bounds in India. With more and more developers and clients realizing the importance as well as the advantages of the green products - it makes this a market with an enormous potential. 

How do you define a sustainable building? What are the measures for sustainable construction? A sustainable building can be defined as a building which optimizes the use of natural resources such as light, ventilation etc by designing the building keeping these criteria in mind as well as use of eco-friendly materials and methods during construction. 

What are your plans and strategies for promoting Green construction in India? 
Vascon requires that all its development projects are certified by at least one of the agencies - either LEEDS, GRIHA or IGBC. Vascon also promotes the use of eco friendly materials for its projects. 

Tell us about Vascon's approach to help buildings reduce consumption of energy, making them more environmentally friendly? Since Vascon is committed to delivering green buildings, this aspect plays a vital role right from the conceptualization stage. A well planned building can have a lot of advantages such as reduction in electricity bills, efficient water utilization and recycling of water, sewage treatment etc

Tell us about your R&D efforts towards developing Green construction technologies? Vascon has a team that is constantly exploring the use of green materials as well green technologies that can be used for the construction of our projects. 

The governance is geared to reduce India’s carbon footprint by 20- 25% by 2020. How can momentum for action be created? The first step towards reducing carbon footprint will be to create awareness amongst people. Educating people about the important aspects of a sustainable building as well as busting myths about green buildings is the correct way to start. Also if the government wants companies to reduce their footprints, there must be some concessions provided to them to change over from conventional systems to green systems. 

Your comments on factors promoting Indian real-estate going Green? 
The government needs to play a proactive role in promoting the Indian real estate sector going green. Green initiatives taken up by the developers must be appreciated and rewarded. Easy access to green material will be another factor that will drive this industry to go green 

What are your company’s efforts & approach to promote the ‘Vision of Green’to consumers and help them in using energy efficient products? Vascon is educating its clients about the various advantages of using sustainable and energy efficient products like LED lighting, sensor controlled lighting etc. We also encourage clients to use and promote these products.
source: http://www.projectvendor.com/ArticleDetailsByCategory.aspx?aid=834

Master Plan of Delhi 2021 with new land policy to offer options to thousands of homebuyers

The Master Plan of Delhi 2021 has been in force since 2007. Once this is reimplemented with the new land development policy, Delhi will also offer options to thousands of homebuyers. The capital city has still 27,628.9 hectares of land to fulfil the dreams of thousand of homebuyers.

The DDA ( Delhi Development Authority) has earmarked land at Zone J, K1, K2, M, N, L, O, P1 and P2 for raising residential projects. According to the projections in the master plan, nearly 24 lakh residential units are required for an estimated 23 million people by 2021.

According to the master plan, Delhi will be slum-free in the next 10 years by providing rehabilitation packages (built-up houses with all civic facilities) to slum dwellers. For this DDA has identified 23 sites (slum areas) for rehabilitation.

The master plan of Delhi includes chapters like regional and sub-regional frame, population and employment , Delhi urban area 2021, social and physical infrastructure , mixed land-use regulations, development code and plan review and monitoring.

The master plan 2021 has allocated 277 sq km for future urbanization by 2021. In the last fifty years, DDA has acquired 75,609.84 hectares and developed it for residential, recreational, commercial and institutional purposes. Now, with better and holistic planning, DDA intends to set new records and provide more amenities to people.

Delhi is spread over 1,483 sq km and divided into 17 planning zones: 1,159 hectare in Zone-A (Old City); 2,304 hectare in Zone-B (City Extension and Karol Bagh); 3,959 hectare in Planning Zone-C ( Civil Lines); 6,855 hectares in Zone D (New Delhi); 8,797 hectares in Planning Zone-E (East Delhi); 11,958 hectares in Zone-F (South Delhi I); 11,865 hectares in Planning Zone-G (West Delhi I); 5,677 hectares in Zone-H (North-West Delhi I); 15,178 hectares in Zone-J (South Delhi II); 5,782 hectares in Zone K-I (West Delhi II) and 6,408 hectares in Zone K-II Dwarka; 22,840 hectares in Zone-L (West Delhi III); 5,073 hectares in Zone-M (North West Delhi II); 13,975 hectares in Zone-N (North West Delhi III); 80,70 hectares in Zone-O (River Yamuna-River Front); 9,866 hectares in Zone P-I (Narela) and 8,534 hectares in Zone P-II (North Delhi).

Ram Gopal Gupta, a policy maker and city planner, says: “In the last 40 years, DDA constructed only 3.5 lakh flats. However, these did not suffice even for 1% of Delhi’s population. Due to lack of housing facilities in Delhi, 10 lakh people are dependent on nearby sates and metro cities in the NCR belt. According to records, DDA was constructing 10,000 flats every year 15 years ago, while in the last 10 years it managed to build 54,000 flats.

Today, DDA is not in a position to construct even 5,000 flats a year. The dramatic growth in Delhi’s population has led to congestions and shortages of civic amenities. One of the main causes for this spurt in population is the migration of people into the city from Bihar, UP, Punjab, J&K , West Bengal, Orissa, etc.”

SOLUTION
Today, the NCR cities are best suited to take the burden of housing from the national capital . The NCR has a total area of 33,578 sq km and includes parts of three states, Haryana, Rajasthan, and Uttar Pradesh, with Delhi as a full state.

The NCR is also characterized by the presence of ecologically sensitive areas like the extension of the Aravali ridge, forests, wild life and bird sanctuaries; the river systems of Yamuna and Hindon, and is a dynamic ruralurban admixture.

SUB-REGIONS OF NCR
The Haryana sub-region comprises nine districts: Faridabad, Gurgaon, Mewat, Rohtak, Sonipat , Rewari, Jhajjar, Panipat and Palwal, together constituting about 40% of the region. The Uttar Pradesh sub-region comprises five districts: Meerut, Ghaziabad, Gautam Budh Nagar, Bulandshahr, and Baghpat, together constituting about 32% (10,853 sq km) of the region.

The Rajasthan sub-region comprises Alwar district and constitutes about 23% (7,829 sq km) of the region. The NCT ( National Capital Territory) of Delhi constitutes about 5% (1,483 sq km) of the region.

DEVELOPMENT
In recent times, there has been a tremendous growth of Delhi and the NCR in terms of infrastructural developments and with the advent of major realty players like DLF, Ansal API, Ansal Housing , Unitech, BPTP,Amrapali, Supertech, Gaursons, Assotech, Parsvnath, Ashiana, TDI, Anantraj Group, Omaxe, JP, Antriksh, etc, the areas have been much in news.

Areas like Gurgaon, Noida, Greater Noida, Manesar, Faridabad, East Delhi Extension, etc, have been the areas fulfilling the housing needs of millions of people who live in and around Delhi. With the pressure of increasing population, unavailability of land, and lowering of water table, etc, developers are migrating to new places in the NCR to raise residential and commercial projects.

REHABILITATION SCHEME FOR SLUMDWELLERS
A novel project proposed by DDA, the “in situ” rehabilitation scheme, moves away from the agency’s previous model of shifting slumdwellers to the city’s fringes as part of rehabilitation package. For this, DDA has indentified 23 sites (slum areas). Consultants have already been appointed for 13 sites. The Kathputli colony near Shadipur Depot of North Delhi has been taken up in first phase.

Tenders will also be floated for the other 22 identified sites. Raheja Developers has been awarded the first of its kind, in situ slum re-development project over 5.22 hectares at Kathputli colony by DDA. The project envisages construction of 2,800 EWS units (with built-up area 30 sq metres per unit) with community facilities like a multi-purpose hall, Basti Vikas Kendra, a health centre, a Sishu Vatika, etc.

Arabtec, the firm which built Burj Khalifa in Dubai, will construct these 2,800 EWS houses and also the commercial complex under the slum redevelopment public-private partnership project between Raheja Developers and DDA, in a time-bound contract of two years.

QUICK BYTES
In the last 50 years, DDA has acquired 75,609.84 hectares and developed it for residential, recreational, commercial and institutional purposes The DDA has earmarked land at Zone J, K1, K2, M, N, l, O, P1 and P2 for raising residential projects.

Source: http://economictimes.indiatimes.com/features/et-realty/master-plan-of-delhi-2021-with-new-land-policy-to-offer-options-to-thousands-of-homebuyers/articleshow/12554634.cms?curpg=1