4,000 sq ft land in Warje freed of encroachments

PUNE: The Pune Municipal Corporation (PMC) on Saturday demolished illegal constructions spread over 4,000 sq ft in Warje.

Civic officials said these included residential and commercial establishments. The premises in the side and front margins were occupied without permission from the civic administration.

In February, the civic administration had acted against encroachments in Ambegaon, Bavdhan and Yerawada. Illegal constructions over 1,432 sq ft, 9,000 sq ft and 4,632 sq ft, receptively were demolished in the drive.

he civic body has acted against over 3,300 illegal constructions in the last year. As part of the drive, illegal sheds and houses built in concrete on an area of 22 lakh sq ft in slum pockets of Shivajinagar, Kasba Peth, Wadgaonsheri, Ambegaon, Katraj, NIBM Road and Pashan were demolished. The civic administration had taken action against multi-storied apartments and against illegal roller-compacted concrete (RCC) constructions and offices of political parties. To read more please visit - Times of India

Second house not in use? You are in for trouble

You might be penalised if you have a second house and don't give it out on rent or sell it off. The government is working on the modalities, Sachin Ahir, state housing minister, said.

In Mumbai, there are 41.86 lakh houses, according to the 2011 Census. Of this 4.79 lakh houses remain locked throughout the year, a house-to-house survey revealed. "This means that 12% of the houses remain empty at a time when there is a huge shortfall of houses. These houses are mostly bought for investment purposes," Pankaj Kapoor, managing director, Liasas Foras, real estate research firm, said.

"If these houses come in the market, the artificially created skyrocketing prices will surely come down. Also, rentals will go down," he said.

Ahir said the government wants to end such investor-driven market. "Genuine buyers and those looking for houses on rent suffer because of these 'investors'," he said. "We may follow the China model and tax/penalise such investors who go for second or more even more houses. This is a sensitive matter so the government is weighing the pros and cons."

"The survey found that the number of first-time buyers has gone down while the number of those buying a second or third or fourth house has gone up," Kapoor said. "This means no house for a genuine buyer while some investor continues to park his money in housing stock. This ultimately leads to artificial price rise."
To read more pelase visit - dnaindia.com

Lodha Casa Paseo Pioneering new trends of Modern Living Mumbai.

Lodha Group an enormous brand in the area of Real Estate inceptioned in Year 1980, the organization is Mumbai's one of the top real estate developer. We additionally presented the possibility of branded office spaces, with offerings at each level, from world class corporate working ambiance to boundless scale office campuses to mark boutique offices for building organizations. What’s more going beyond its part as a leading real estate builder, we socially answerable corporate, targeting on education as the best medium to enhance society. There is a sure process that goes on 'Behind the scenes" that captivates us to change and deliver the extravagant product that meets the vision. We concentrate on branded realty, with a trust in marketing and developing our real estate projects as "Branded Products" rather than commodities. With our reasoning our company has certain corporate morals unique to Lodha Developers due to which we think we are the organization that does things in a different manner. To read more please visit - industrytoday.co.uk

Redevelopment of old building in civic area part of cluster scheme’

NAVI MUMBAI: Thane guardian minister and MLA Ganesh Naik clarified at a press meet on Saturday in Vashi that the cluster development plan, approved by the state legislative assembly on Friday, also includes the redevelopment of dilapidated buildings in the Navi Mumbai Municipal Corporation’s (NMMC) jurisdiction.
The state legislative assembly had cleared the decks for cluster redevelopment in Thane and redevelopment plans for 22,000 houses in 95 gaothans in Navi Mumbai, both with 4 FSI (floor space index).
Naik said, “The cluster development plan approved by the state government is not mandatory for the residents. But those who are unwilling to undertake the project of dilapidated residential buildings shall be held responsible for any untoward incident of building collapse and loss of life.”
Questioned about the timeframe of the project, Naik responded that cluster development will take place in a ‘phased manner’ and will be a ‘time-consuming process’, as all residents need to be taken into confidence.
Speaking about the need for the project, Naik said that the haphazard construction of houses by PAPs in NMMC areas has resulted in a mess.
He cited the example of Juhugaon in Vashi , where there are problems like extension of storm water drains, water pipelines and laying electric cables. To read more please visit - indianrealtynews.com

Reits: A solution to many problems in Indian real estate

Over the past two decades, the global commercial real estate sector has seen a dramatic shift from private sector to public markets. The Indian real estate industry’s growing demand for additional sources of funds and the success story of global real estate investment trusts (Reits) is compelling enough to encourage the implementation of a similar regime in India with requisite adjustments. Typically, Reits invest in completed, revenue generating commercial properties and distribute a major portion of the earnings among investors. They have proven to be an attractive investment option for retail investors as well as for long-term pools of capital such as pension funds and insurance companies who prefer to have a regular income stream. Historically, global Reits have been able to generate significant market traction. The US Reit industry’s market capital, for example, has grown at an average annual rate of nearly 23% in the past 20 years.

Besides other advantages, Reits bring in increased transparency in the sector by adopting better corporate governance, disclosures and financial transparency practices. Being required to comply with the corporate governance, information disclosure and financial reporting standards laid down by the regulator, Reits will bring in a regular information exchange and availability in the public domain. This will result in higher professionalism with a clear emphasis on issues such as risks attached to titles and transaction costs. To read more please visit - livemint.com

Casa Bella Gold a hot residential project in Palava Mumbai.

Casa Bella has been qualified by the Lodha Group, as the city of dreams. Following the success of the same, the developer has introduced another project right at the entrance of this city and call it Casa Bella Gold, Palava. The developer has brought together the geniuses from different fields, the architectural genius of Mumbai based Kapadia Associates, infrastructural genius of UK based WSP Group and the reputed Singapore based designers for landscapes, namely Belt Collins for this hot residential project.
 

                                                             Palava City Map

Palava City Mumbai

Part of the mega township Casa Bella in Palava, there are several location advantages offered here at Casa Bella Gold Palava Mumbai including smooth rail and road connectivity.

As many as five types of apartments are on an offer of sale at Casa Bella Gold. These include the ever popular 1BHK or 1RK flats, 2BHK optima apartments, 2BHK ultima apartments, apartments known as 2BHK aura as well as 3BHK aura.

                                                     Floor Plan of Casa Bella Gold

3 BHK- Aura

2 BHK Ultima

Several amenities can be availed at flats of premium quality at Casa Bella Gold Palava. Each of these apartments include an air conditioned master bedroom, Jaguar bathroom fittings and designer ceramic bathroom tiles in toilets, a modern kitchen with a granite platform with a glossy finish, a stainless steel sink and vitrified floor tiles. Areas have been demarcated in each of these flats for wardrobes. House plans also include separate utility area for daily chores like washing and drying clothes and utensils. Important electrical requirements of the house like provision for a telephone connection and internet facility have also been proposed here. The home security system includes an intercom facility. Each apartment will also have space for a separate puja room.

The larger sized apartments suffixed by the name aura have better internal amenities. Here too separate wardrobe spaces will be allotted in all bedrooms and a separate puja room will also be included in the apartment design plans. Here air conditioners have been proposed in all bedrooms and dining room as well as drawing room. Wooden floor tiles in bedrooms and the finest marble floor tiles is laid out in these luxury flats. These apartments will be distinct for as per the house design plans, each of these also accommodate a private sun deck next to the drawing room. Roca sanitary ware and Jaquar bathroom fittings will make the toilets visually pleasing. As provision has been made to install automated lighting fittings which respond to motion, a visit to the bathroom will be most convenient for elderly people and kids besides being energy efficient. Home security system in these apartments include multiple tier security with video door phones. The Aura apartments within Casa Bella Gold, Mumbai include all the internal amenities provided in premium apartments and add more.

Residents of Casa Bella Gold will also be able to avail several external amenities too. These include a very stylish central square, a school with an Indian Certificate for Secondary Education (ICSE), a private station with contemporary fire fighting equipment, a state-of-the-art gymnasium, yoga and meditation centre, a sauna room, Jacuzzi, a 9 hole golf course, mall and multiplex, health facilities including a polyclinic, diagnostic centre, pharmacy etc managed by Hinduja Hospital, to name a few.

Other privileges at Casa Bella Gold, Mumbai include sports facilities to play cricket, basket ball, volleyball, tennis courts and badminton, picnic spots, creche, bus service to Dombivali Railway Station, party hall and play area for kids.

Want to know more about Stamp duty ?

 Stamp duty rates in Mumbai

Every December the Government of Maharashtra revises the Stamp Duty ready reckoner rates. These rates usually go up from 10 to 20% each year and thus making the minimum purchase price in a particular location on the basis of the Ready Reckoner Rates.

Let us understand what it means for a Property Buyer or an Investor in case you have not paid the Stamp Duty till date :

1. If you have not paid the Stamp Duty still and have taken the property as an Investor or an End User a few years back, then you just need to check the rate your agreement value is and compare the same with the existing Ready Reckoner Rate. In case you are nearly at Par, then you have 2 choices, either to do the Stamp Duty now or wait for the Price hike in the ready reckoner, if the rate goes up by 10% for example, then you will have to pay 5% of that 10% increase more than what you would have not paid otherwise.

2. Most of the Investors who have bought A grade or expensive properties already may not be impacted by this, but it important and worth it to check with your Developer about the present rates in the Location.
It will be interesting to see what the Government comes up this December, owing to the fact, that the property market has shown signs of depression. Also, if the Government increases the Ready Reckoner Rates, then the most advantage situation is for the Developers who may have smaller projects with lesser amenities or no amenities, there basic rates goes up and they are easily able to justify to the buyer that look the Circle Rates or the Ready Reckoner Rates are already high.

So it is in your best interest to make that one call to the Developers and understand the Agreement value and the corresponding Ready Reckoner Prices.

Mumbai's rapid urbanization to boost real estate industry

MUMBAI: Mumbai Rapid urbanization and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years, according to Real Estate 2020: Building the future, a new report from PwC. At the same time as the industry's opportunities grow, so too will assets invested into the sector, it said.

The report predicts that the global stock of investable real estate will rise by more than 55% to around $45.3 trillion by 2020, from a 2012 total of $29.0 trillion and will expand again by a similar proportion by 2030. The expansion will be greatest in emerging economies, where economic development will lead to better tenant quality and, in some countries, clearer property rights and will play out across housing, commercial real estate and infrastructure. To read more please visit - timesofindia.com