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RWAs Welcome DDA Move to Hike Floor-Area Ratio

2012-10-23T02:58:00.003-07:00

A large number of cooperative housing societies have welcomed DDA’s notification allowing higher floor-area ratio (FAR) for existing group housing societies, approved by the LG’s office. Since the increased FAR – from 150 to 200 – applies only to new constructions, these societies are considering bringing down old structures to make way for new buildings.

The provision for higher FAR in cooperative societies is part of the new master plan. “We were getting a lot of queries from group housing societies that wanted to make use of the excess FAR. However, it was felt that the exisiting societies cannot be allowed to extend the structures as this would undermine the strength of the building and put people’s lives at risk. The only way they can make use of the additional FAR is by constructing another block or tower on the premises,” said a DDA official.

There are thousands of cooperative housing societies in Patparganj, Mayur Vihar, Rohini, Vasundhara Enclave, Dwarka, etc. Barring new societies in Dwarka and Rohini, residents say all apartments constructed on DDA land are generally dilapidated, contain four or eight storeys, and lack parking space. In Patparganj, composed only of housing societies, many societies are exploring the idea. “We are working on the proposal and checking with DDA on how to move forward. We have approached many builders, but we’re yet to zero in on any one of them. We need to first wait for the final notification from DDA,” said Santosh Mangal, secretary RWA of Ksheer Sagar cooperative housing society (Kailash Apartments) in Patparganj.

He added, “This society was made in accordance with the FAR 20 years ago. Once the higher FAR is incorporated into the amended master plan, we plan to seek flat owners’ consent for redevelopment plans. At present, the society has three floors, but with the additional FAR we will be able to take it 12. Additional facilities, such as a two-storey underground parking, are also on agenda. Each flat owner will get a larger area and the additional flats made with higher FAR can be sold by the builder to cover his costs,” he said.

However, if even a single flat owner disagrees, the proposal would have to be shelved. Flat occupants will have to be relocated during the reconstruction. MN Bhattarcharjee, who is part of an NGO, has taken up the case of redevelopment of such buildings, said, “We have sent a memorandum to the urban development minister to expedite the process. Many housing societies were constructed without architectural or engineering assistance three decades ago. Many of these structures are showing signs of aging. The main problem with redevelopment is of funds. This can be resolved if a builder can sell the additional flats he constructs with higher FAR in place of old buildings,” he said.

Cooperative society owners in Mayur Vihar Phase I and Vasundhara Enclave have approached DDA for details and are drawing up similar plans. Sushil Kumar from Dwarka forum, however, said most societies in Dwarka were relatively new and many flats were still empty, so they were not looking at any such proposal.

Officials said the additional FAR is permissible under Master Plan 2021, and the decision was taken by senior officials at a meeting in the LG’s office in April.

“To avail the higher FAR, society members will have to take permission for demolition of old structures, and building the newer ones, complying with building regulations of the government or DDA as applicable. The process is lengthy and requires consent of all flats owners,” added an official.

HUDA administrator reopens U-turn against Punjab and Haryana high court order

2012-10-11T04:39:00.000-07:00

Hundreds of residents living in the societies behind Ambience Mall protested at the 32-lane toll plaza on Delhi-Gurgaon Expressway against blocking of the U-turn after a recent court order. HUDA administrator Praveen Kumar then removed the barricade, saying he had enough video evidence of Tuesday’s chaos to convince the court that the decision was in the interest of the public.

Kumar took the bold step despite the reluctance showed by private concessionaire Delhi-Gurgaon Super Connectivity Ltd (DGSCL) and local police. The Punjab and Haryana high court in its order on Monday had banned the U-turn near the toll plaza for vehicles going towards Ambience Mall. The court had directed the Haryana police that the U-turn should not be used as a crossover from service lane/carriageway from one side to another side.

Kumar, who had observed the traffic jams on Tuesday, reached the toll plaza on Wednesday morning and negotiated with the protesting residents. He then convinced DGSCL officials and local police about his decision to remove the barricade. After this, a crane was brought and the barricades were taken away.
The DGSCL officials, however, said the responsibility for violation of the court order was solely that of the HUDA administrator, and insisted that the toll operations were running smoothly. Gurgaon police said their job was to follow the orders of the court. “We can’t allow vehicles to go towards Ambience Mall because that may lead to contempt of court. However, if a senior HUDA official is taking the responsibility, we will not interfere,” said Ravinder Tomar, ACP (traffic).

Later, Kumar visited the area around Ambience Mall to find an alternative route for the residents and mall visitors so that they could avoid the chaos on Expressway. HUDA is now planning a U-turn under Udyog Vihar flyover for this purpose.

“The permanent solution to this issue is to build either a flyover or an underpass from Gurgaon side to service lane towards Ambience Mall,” said Raj Singh Gehlot, managing director, Ambience Group. The next court hearing is on October 17.

DGSCL can’t ‘paint the sky blue’ for you amidst heavy traffic jams and protests by residents on Wednesday morning, private concessionaire, DGSCL, seemed disinterested in commuters’ woes. When questioned over absence of proper signboards on the carriageway, Manoj Aggarwal, CEO Highways (O&M), DGSCL, said “if they (commuters) were blind, he could not paint the sky blue”. That’s not it. When asked for opinion on HUDA’s suggestion that one lane on each side of the toll plaza should be made free for commuters to take

U-turn, he told the reporter to talk to the official spokesperson, or just write whatever he felt like.
After the court banned the ‘L’ turn, those heading towards the mall or their homes were stranded. People were forced to pay Rs 42 – twice the regular amount – at the toll plaza and take 5-6 km detours just to take a U-turn.

Properties Would Get Sealed If Conversion Charges Not Paid

2012-10-08T23:47:00.001-07:00

Starting October 15, East Municipal Corporation will undertake a sealing drive against properties that have not paid the conversion charges.

Commissioner of corporationS S Yadav said notices have been sent to the property owners, whose conversion charges are still due.

“We have to take action against those who are not paying their tax to the corporation. They have been given advantage of mixed land use, and paying money for it should not be a problem. In fact, there are instructions to the officials to ease the process for those who want to pay,” Yadav said.

Approximately 18,600 properties have been identified as non-payers of conversion tax.

Shahdara-South has around 14,000 properties that are not paying conversion charges and Shahdara-North has 4,600 such properties.

“It is loss of revenue. We need to take stringent action, like sealing. The people should know that conversion charges protects their properties,” a senior official of the civic agency said.

The municipal corporation will also seal mobile towers that have not even applied for a license. “Our figures run into thousands when it comes to sealing of mobile towers. These towers do not include the ones that are waiting for a licence,” Yadav said.

Chairperson for Standing Committee (East) Mehak Singh said the BJP will ask the commissioner to rethink the sealing drive.

“We want that people should be given a chance to pay their tax. There should be more camps. Opportunities given should be given to people, rather than sealing their properties,” Singh said.

DDA to Push Transit Linked Development Projects

2012-10-07T23:42:00.003-07:00

NEW DELHI: DDA on Friday decided to fast-track transit-oriented development projects (ToD) and notify certain projects and corridors where Delhi Development Authority will develop the influence zone following development control norms.

According to officials, the pilot ToD project will be the Karkardooma project and the corridor influence zone will be the Chhattarpur Arjan Garh corridor, Peeragarhi-Tikri Kalan corridor, Nehru Place-Badarpur corridor and the Dwarka Mor-Dwarka Sector 21 corridor.

DDA also decided to frame a policy for continuation of seven temporary cinemas in the capital. “It was explained that the cinemas which had been in existence for a long time but have no legal status can be regularized with certain conditions. It was decided that floor area ratio (FAR) for these cinemas will be allowed up to 100 subject to a maximum of 2,000 sq m of the built-up area. In case a hall has more land, the rest of the area will be kept green. For parking, it was decided that it should be 3 ECS per 100 sq m of the built-up space,” said an official.

Amendments to the 2021 master plan also came up in the DDA meeting which decided to allow multi-disciplinary clinics under ‘clinic’ in the ‘other activities’ column of mixed-use regulations. This came following a request from the Delhi government that activities like physiotherapy, pathological labs should be allowed under the ‘clinic’ category to make all facilities available under one roof. DDA officials said public feedback had been invited for this amendment, but as no objection or suggestion had been received, it was placed before the meeting and the same was approved.

DDA also suggested that for every community hall being constructed by it, a floor should be earmarked for elderly people’s recreation and relaxation/reading. The suggestion was welcomed by the lieutenant governor and DDA would work on the plan.

A proposal for setting up a national institute of technology in Zone PI, Narela sub-city, was also approved as land is not available in other parts of Delhi. The human resource development ministry has requested for the institute, which will be developed as a full-fledged university campus.

DDA has also decided to make fresh recruitments. Recruitment of assistant executive engineers (civil) and AEE (electrical and mechanical) will be done through GATE 2013. “Successful applicants will be called for interview. For ministerial cadres at the level of assistant directors, professionals such as MBAs, chartered accountants and cost accountants will be recruited. This will also apply to the recruitment of assistant account officers,” said an official.

Surveys Of Newly Regularised Colonies In Delhi

2012-10-05T03:42:00.002-07:00

Delhi Government will soon carry out surveys in 895 unauthorized colonies which were regularized last month to find out their basic infrastructural requirement.

Officials Thursday said agencies like PWD and DSIIDC will carry out the surveys following which developmental works will be started in the colonies.

The government has already prepared CDs containing maps, boundaries and all relevant information relating to each of the 895 colonies.

The CDs have been distributed to concerned MPs, MLAs and Resident Welfare Association seeking their support in carrying out development works in the settlements.

The government plans to spend Rs 200 crore initially for carrying out development works in the colonies.

Officials said the basic purpose of preparing the CDs is to ensure better coordination among all concerned parties in carrying out the developmental works.

Out of 895 colonies which were regularized last month, 312 settlements are on private land while 583 colonies came up on government land.

The Government is also in the process of allowing sale and purchase of properties in the colonies on private land.

Allowing sale and purchase will bring relief to lakhs of residents as government had restricted sale and purchase in the settlements after issuance of provisional regularization certificates in 2008.

Delhi Government had issued provisional regularization certificates to over 1,639 unauthorized colonies ahead of assembly polls in 2008. The then Dikshit government, while distributing the certificates, had promised to regularize the colonies if Congress came to power for the third term.

Delhi Markets to Get More Floor Area Ratio

2012-10-04T00:00:00.000-07:00

Exactly a month after Union development minister Kamal Nath outlined his vision for Delhi to go vertical, in the mid-term review of the Master Plan 2021, Delhi Development Authority (DDA) on Monday came out with a public notice inviting objections and suggestions for the first set of 23 amendments finalized so far. The public has 90 days to file comments before the amendments go through several stages to the final notification stage.

According to the proposed modifications, the focus of the review clearly seems to be on group housing and development norms that will allow multi-storey flats to come up in planned areas. For instance, it is proposed to provide additional floor area in residential plot group housing for community needs such as community hall, creche, recreation centre, library, reading room, senior citizen club and society office. The proposal states that additional floor area at the rate of 0.6% of the permissible area — subject to a minimum of 400 sq m and maximum of 1200 sq m — be allowed. The additional FAR will be over and above the coverage allowed to the society for residential use. The master plan, so far, allows additional floor area up to a maximum of 400 sq m for community facilities.

To ease the way for redevelopment of local shopping centers and sub-city level markets, it has been proposed to incentivize the redevelopment with a maximum overall FAR of 50%, over and above the existing permissible FAR. “Due to their proximity to residential areas, these markets need to be redeveloped to overcome the environmental and traffic problems. Traders associations shall share the responsibility of redevelopment to modern wholesale markets for sub-city level markets. Existing built-up commercial centers may also be redeveloped if need be with enhanced FAR subject to payment of appropriate levies,” read some of the modifications proposed for the mid-term review.

For new housing meant for urban poor, it has been proposed that developers of group housing shall ensure that at least 15% of proposed FAR be constructed for community service personnel and lower income category. The modification states that employer housing of central government, state government and other government agencies are not required to follow the requirement of FAR or dwelling units for community service personnel and lower-income category.

The current lot of amendments in the public notice is just the first of a lot. “These are all based on feedback received from the public at the time of the mid-term review several months back that has been filtered/discussed in detail by expert groups and approved by the Authority. After this, more than 4,300 suggestions were received in the six open-houses held by DDA. These are still being examined by various expert groups,” said a senior official of DDA’s planning department.

“After we receive public feedback on the finalized 23 amendments, these will be placed before a board of inquiry and then come back to the Authority for approval. Finally, they will be sent to the UD ministry for final notification,” said DDA spokesperson Neemo Dhar.

New Gurgaon To Meet Increasing Housing Demand

2012-10-03T00:50:00.000-07:00

Located between Old Gurgaon and Manesar, New Gurgaon that comprises of the newly carved sectors of the Haryana Urban Development Authority is one another growth corridor that is now offering a healthy supply of housing units. Several well known developers have announced their projects in the new sectors of 81, 82, 83, 84, 85, 86, 91, 92, 93 and 95.

In the last four months, Gurgaon has witnessed an increase in demand for housing. Most of this demand is now met by projects coming up in these new sectors. It is for this reason property rates in New Gurgaon have risen by almost 6% with maximum demand concentrated in sector 81 and sector 95.

However, majority of the buyers consist of long-term investors. “Investors are seeing an immense potential in the properties in New Gurgaon due to its neighboring areas and good connectivity,” says Rajar Baweja, Baweja Properties, a property brokerage firm in Gurgaon. In addition to this, industry estimates suggest that workforce in neighboring areas of Manesar and Gurgaon is also buying in these sectors.

New Gurgaon’s easy connectivity with three highways namely the National Highway 8, the proposed Dwarka and Kundli-Manesar-Palwal Expressways makes it lucrative for investors and buyers. Also, places of importance such as airport, railway station and the proposed ISBT are located very close to New Gurgaon.

New projects

Being one of the most promising areas, Sector – 81 in New Gurgaon is seeing a large number of projects by developers such as Bestech Group, Vipul Limited, Vatika Group, Lavanya and Godrej Properties. Besides these, there are DLF Homes Ltd., Orris, S.S. Group, SLS Developers, Ansal, Crescent Parc, etc. also building their 2, 3 and 4 BHK units in other sectors of Gurgaon. Most projects are expected to complete by end of 2015. Some others such as Vipul Limited, Vatika Group and Orris have declared the expected completion date by end of 2013.

Developers are building more numbers of 3 BHK units in comparison to 2 BHK units. The price of a 1,460-2,660 sq ft, 3 BHK unit in New Gurgaon may range between Rs. 50 lacs and Rs. 1.50 crore. A 1,800-4,200 sq ft, 4 BHK unit could be purchased for Rs. 70 lacs to Rs. 2.60 crore. While very few projects are including 2 BHK units, the same offering 1,200 to 1,600 sq ft is priced around Rs. 60 lacs to Rs. 78 lacs in the new projects.

FDI in retail will boost Real Estate Sector

2012-09-22T18:58:00.000-07:00

The recent announcement by the RBI of strong growth in the service sector in 2011-12 has brought cheer to the real estate developers, as it may sustain the present high demand of commercial real estate in the near future. The projected slowdown in overall economic growth globally, and particularly in India, to 6.5% in 2011-12 , as against 8.4% in 2010-11 , has affected the sentiment in the market place. The recent decision of the government to allow foreign direct investment (FDI) in the multi-brand retail sector will also help the real estate sector in the country. This will also increase the demand for commercial space in the market. At the same time, as the demand for office space will continue to be strong, fresh jobs creation in the country will also see a strong growth. Normally, when a company takes 1,000 sq feet of office space on rent, it employs around seven people to fully utilize that space. That means, at least seven new people will enter the job market and, on average , five out them will buy residential apartments. Therefore, a consultant said that according to the thumb rule, the requirement of residential space increases five times that of the commercial space used. Therefore, if the demand for the commercial space remains strong, it will also continue to give a fillip to the residential real estate. Pankaj Renjhen, the managing director (retail services) of Jones Lang LaSalle, says: "The real estate retail industry will benefit immensely due to increase in demand and increased investor confidence. We can also expect increased transparency in the retail real estate sector. Additionally, the country will flourish in terms of quality standards and consumer expectations, since the inflow of FDI into the retail sector is bound to pull up the quality standards and costcompetitiveness of Indian producers in all the segments." The government has taken an important step with this decision , Renjhen says. From a retail real estate point of view, this decision will open up immense opportunities in the medium and long term, as the demand for quality real estate will rise. Currently, some retailers are cash-strapped and this will provide a sort of bailout option to them, he says. Overall, the investment by local and new international retailers that are likely to come into the sector will definitely also take the form of investments into real estate at the front end in terms of retail store spaces and of the back end, in terms of better quality warehouses. The new international entrants will be willing to take longer-term bets and invest in stores which will be sustainable over the long haul. Competition will increase as Indian retailers shape up and intensify their expansion plans, which had been fairly low over the past few years. Also, it will increase the interest and confidence level of real estate developers to set up quality shopping centres. They now have reason to set behind them their experiences post-2008 , and can once again consider investing in this asset class with a clear vision on long-term profit, Renjhen says. Subash Bhola of Jones Lang LaSalle India, the global consultant in real estate sector, says: "The economy's service sector has experienced strong growth and is advancing at a rate of 8.5% in financial year 2012. This indicates that a major slowdown in office real estate demand is not likely to occur - the service sector generates the highest demand for office space in the country." Bhola says that recently, the annual GDP of 6.5% growth during April 2011-March 2012 released by the Reserve Bank of India resulted in a negative sentiment throughout the real estate industry . Consistent with this, in the first half of 2012, the demand for commercial real estate moderated on the back of office occupiers that remained cautious about their expansion plans. However, over the years, the service sector has been the growth engine of the Indian economy. Its growth rate has outperformed the overall growth rate of the country's GDP, which includes the service, agricultural and industrial sectors - the three major sectors of the economy. In a report, Bhola says the slowdown in GDP growth in 2011-12 can mainly be attributed to high interest rates, inflation and a significant contraction in industrial production. However, the growth in the service industry , at 8.5%, has been robust enough to support overall GDP and the sector itself. The IT-ITeS sector, which is one of the major constituents of the service industry, recorded a growth rate of 13% in 2011-12 and is expected to grow at a similar rate during the next financial year. Additionally, the banking, financial services and insurance industries (BFSI) registered a robust growth rate of 10% in 2011-12 . Although the manufacturing and industrial sector is performing poorly now, the continued health of the service sector is likely to compensate for it by contributing a larger share. The RBI projected that the Indian economy would grow at 6.5% in financial year 2013. Compared to many major world economies, this growth rate is fairly healthy; in addition, an established service sector should help India resist any slowdown in office real estate demand. The service sector comprising BFSI, information technology, consulting , trade, and communication is the major driver of demand for commercial real estate in the country. The service sector has also been one of the country's core sectors over the past decade, as its contribution to GDP has significantly increased from 50% in financial year 1996, to 63% in financial year 2012. In financial year 2012, when all the other sectors, including industrial and agricultural, performed very poorly, at an average of 3.1%, the service sector recorded a healthy growth rate of 8.5%. It is estimated that in 2011, the service sector accounted for about 70% of the demand for commercial office space in seven major Indian cities - Mumbai, the Delhi-NCR , Bangalore, Chennai, Hyderabad, Pune and Kolkata - with the remaining 30% coming from manufacturing and other industries. In the service sector, the IT-ITeS and BFSI industries contributed the most, at 35% and 16% respectively. However, another global consultancy firm Cushman and Wakefield says that given the current global economic uncertainty, IT-ITeS companies have been somewhat conservative in their expansion plans and are focussing more on consolidation. As a result, companies from other sectors like consulting, BFSI, manufacturing, etc, seem to have been garnering more shares in the fresh absorption pie for commercial office spaces this year. BFSI companies are most active in Mumbai and Pune, compared to other cities. The share of the BFSI sector in the total absorption for Mumbai has increased to 55% in the third quarter, up from the 22% in the previous quarter, while the share has been around 15% in Pune; the same has been around 3-5 % in other cities. Bhola says consulting services have shown strong office space demand over the years, which has grown from nearly 3.8% of the total demand in 2009 to 13% in 2011. Therefore, the growth of commercial real estate demand depends principally on the growth of the service sector. Cushman and Wakefield also feel similarly.

Tax holiday for commercial vehicles on e-way over

2012-09-21T02:49:00.000-07:00

The tax holiday is over for commercial vehicles plying between Delhi and Gurgaon. Making it clear that private vehicles travelling on the expressway can still enjoy free rides, the Punjab and Haryana High Court today directed the charging of toll tax from the commercial vehicles from 6 this evening.

The court also gave Delhi-Gurgaon Super Connectivity Limited (DGSCL), the toll plaza operator, two days to increase the number of toll lanes from 32 to 53.

As the case came up for hearing this morning, the Division Bench of Acting Chief Justice Jasbir Singh and Justice R K Jain also appointed Punjab and Haryana High Court’s former Chief Justice Mukul Mudgal as local commissioner to inspect the area and submit its report by Monday. Justice Mudgal will report to the High Court, if the concessionaire has implemented the decongestion plan submitted by it.

The Bench also directed DGSCL to implement the proposals submitted by it to decongest the expressway by Sunday.

The case will come up for further hearing on Tuesday.

The Delhi Municipal Corporation had earlier moved the High Court, seeking directions for imposing toll tax on commercial heavy vehicles. The corporation asserted that commercial vehicles were entering Delhi from the Gurgaon side to avoid toll tax. As a result, the rush had increased on the expressway and its effect could be felt right up to Dhaula Kuan in Delhi. It added that a dedicated lane could be earmarked for commercial vehicles for the purpose of collecting the toll tax.

Property Updates : Gurgaon

2012-09-16T23:55:00.000-07:00

Golf Course Extension Road is going to be the next destination for luxurious residential projects in Gurgaon. This developing stretch has carved a niche for itself in a very short period, as it is on a 30-minute drive from the Indira Gandhi International Airport and has easy accessibility to NH-8 and South Delhi through the Gurgaon-Faridabad Expressway. Relatively, Golf Course Extension Road is a new locality . During the slowdown, the number of transactions dropped considerably, but with improving infrastructure and a growing demand for premier lifestyle housing segments, the realty scenario on this stretch has now changed. Developers and prompters are now raising golfthemed apartments and luxury villas. Top realty players like DLF have already launched several premium projects like Aralias and Belaire on this road. While projects like these have done their bit in promoting the area, the area turned into an end users destination with the development of Road No. 9 from Sikandarpur to Golf Course Road. The extension of this road to connect to Sohna Road further opened up the area to development. Apart from DLF's projects, the other launches along this stretch are Ansal API's Esencia, M3M's Golf Estate, Pioneer Group's Pioneer Park, Emaar MGF's Emerald Hills, Tata's Raisina Residency and IREO's Grand Arch. Sectors like 55 and 56 along the Golf Course Extension Road already have a large number of cooperative group-housing societies, which have created a critical mass of population on this stretch. The new stock coming up here is 3- or 4BHK luxury apartments of 1,500-2 ,500 sq ft, quoting at a base rate of Rs 11,000 sq ft. Commercial projects like Global Business Foyer, Paras Twin Towers, Suncity Business Park, and Ninex Time Tower have already been handed over for possession. The availability of commercial space has increased by approximately 30%. In the retail segment on the Golf Course Extension Road, Emaar MGF has launched the Emerald Plaza mall. Unitech has launched two office space projects - Unitech Business Park and Silvertone. M3M is coming up with Golf Estate duplex apartment on 75 acres in Sector 66. Golf Estate has three parts: Fairway West, Fairway East and Fairway Polo Suites. Fairway West is expected to be completed in 2014, while the entire project, including Fairway East and M3M Polo Suites, are likely to be completed within the next three years. Fairway East and M3M Polo Suites offer 3BHK units of 3,655 sq ft, 4BHK units of 4,465 sq ft, 4BHK duplex of 5,465 sq ft and 5BHK Simplex of 5,600 sq ft at Rs 11,000 per sq ft. - Dharmendra Kumar

Michael Schumacher Tower Gurgaon

2012-09-11T01:02:00.001-07:00

Dream home where luxury has no limit....

Inspired by the concept of unique “Human Architecture”, planned by Michael Schumacher “The legend” himself and this project MSWCT (Michael Schumacher World Champion Tower) is been presented by Homestead (United Kingdom).

Some of the fantastic Specifications are as under:-

Project Name	Michael Schumacher World Champion Tower in Gurgaon, India
Project Land	5 Acres
Location	Sector-109 (Best Residential Sector in Gurgaon)
Total Flats	85 (One tower & rest open green area with hi-tech club and swimming pool)
High Rise Floors	34

Michael Schumacher himself will inaugurate the project launching on 16 September 2012 and the construction will be started on 16 October 2012

Completion of project will be done within 3 Years. There is a Helipad on the top floor of the Tower. In this whole world there are only 7 such towers. Club and swimming pool is free for the persons booking the flats during this launch. There is a swimming pool and gym in each flat of this project.

Persons holding flats in this project- Michael Schumacher himself own a flat in this project and will stay have whenever he will visit India .Some of popular Bollywood and Hollywood actors will own a few flats Great sports persons of this particular time will also be involved in the ownership of few flats.

Area 3750sq.ft Area 5500sq.ft

BHK 4 BHK 5

BSP 10500/- BSP 10500/-

NDMC To Recover Property Tax

2012-09-08T00:23:00.000-07:00

Facing a serious financial crunch, the North Delhi Municipal Corporation has decided to recover all the property tax dues. For this, the corporation has decided to publish the names of tax defaulters in newspapers. Officials say that defaulters will be given a month’s time to settle the dues after which the corporation will initiate legal action against them.

“We have been trying to avoid this for long, but now we are left with no option. We will take stringent action against the defaulters if they don’t pay up,” Yogender Chandolia, chairman, standing committee, North Corporation, said.

The corporation will publish the list of people who have dues more than Rs 5 lakh pending against them.

As per official records, there are 1,070 defaulters and the total amount to be recovered is Rs 120 crore. “This is a huge amount for our corporation. Our annual property tax collection target is Rs 350 crore. Post-trifurcation, our financial condition has deteriorated. We had to cut down on our expenses. We are now struggling to boost our revenue, but the options are limited,” said Chandolia.

The erstwhile MCD, too, had published the names and addresses of 4,816 defaulters last year. Councillors say that the embarrassment faced by people will help ensure faster payment. The amount due was Rs 637 crore. Officials say that a good sum was recovered by the corporation. “The previous exercise had yielded good results. We are hopeful that this time too we will be able to get a good response,” said Chandolia.

Property Updates : Delhi & NCR

2012-09-05T23:46:00.000-07:00

Delhi’s skyline could resemble Manhattan’s or Shanghai’s if urban development minister Kamal Nath has his way. The minister has mooted verticalisation of Delhi in the new master plan for 2021 by allowing higher floor area ratio in the city, which is expected to increase housing stock considerably and rejuvenate some old commercial areas.

“Property prices in Delhi are too high today and the only way they can come down are by increasing supply,” says Anshuman Magazine, chairman and managing director (south Asia) at property advisory firm CB Richard Ellis.

Property rates in Delhi, especially in the south and central parts, today are comparable to those in cities like New York and London.

As the city has grown to a population of 17 million, these unsustainable prices and lack of vertical development have pushed home buyers towards new urban conglomerations around the city like Noida, Gurgoan, Ghaziabad,Faridabad and beyond. Today, the average property prices in Delhi are at least two to three times that in Gurgaon and Noida.

Delhi currently has an FAR of 1.2 (and 3.5 for plots under 100 sq metres) for residential and 1-1.5 for commercial compared to 13 in Shanghai and 15 in New York and Manhattan. Noida too has a higher FAR of 3, Gurgaon allows comparatively more at 1.75 and Hyderabad has allowed unlimited FAR if certain conditions like providing adequate parking are met.

The tallest building today in Delhi is the Municipal Corporation of Delhi’s Civic Centre with 28 floors. In comparison, Supertech is building an 80-storey building in Noida. In Manhattan, the famous Empire State Building, which was completed in 1931, has 102 floors. FAR is the ratio of the total floor area of a building to the plot area and the concept behind it is utilisation of land in the most optimal manner.

Today, many people travel to Delhi for work as the overall population density has been spread over a larger area. “Delhi has failed to give housing to the common man due to limitations on FAR and density norms. It also aided in the creation of slums. If FAR is freed, land cost for development will come down, bringing down property prices,” says Navin Raheja, president of the National Real Estate Development Council and a developer with projects in both Delhi and Gurgaon.

So far, what has stopped the Delhi government from allowing higher FAR is the possible strain on infrastructure, like roads, water, power, sewerage that will follow such densification, but that worry still remains.

The city’s infrastructure is creaking. Infrastructure like power, water and roads are already stretched to the hilt due to decades of poor planning. Many areas in Delhi still face frequent power cuts and shortage of water, both potable and otherwise. Massive traffic snarls are common in most parts of the city that face shortage of road space because of an increase in the population of motor vehicles.

Urban development experts warn that if norms are changed and taller buildings are allowed without making a concrete plan to improve infrastructure across the city, it could lead to a worse situation. “We need to get our infrastructure development plan in order before embarking on verticalisation. The government could charge for giving higher FAR and that money should be properly utilised to strengthen infrastructure,” says Gaurav Jain, a town planner and managing director of Samyak Properties & Infrastructure.

Internationally, most such decisions are taken after a thorough study of the infrastructure in a city, which includes the impact of increasing FAR on traffic, water and power availability and sewerage, says Magazine.

Architect Ashok Lall, who works in the field of sustainable urban development feels simply allowing tall buildings everywhere will lead to an unsustainable situation in the city. “Once you go beyond six floors, the energy required to take water, sewerage and people up and down goes up 20%,” he says. According to Lall, the optimal, energy-efficient FAR is around 1.2, which is currently allowed in the city.

Introducing Intelligence Consultancy Services

2012-08-29T04:05:00.001-07:00

Intelligence Consultancy Services is a premier real estate development company engaged in multi-dimensional portfolio that includes Residential, Commercial, Industrial, Retail and Hospitality Segments. The company aims to provide excellent returns to customers on their real time investments and hence, enjoy a formidable reputation among real estate investors all across the country.

We have excelled in the area of providing proficient real estate services which includes services in the core areas of strategic consulting, valuation/appraisals, agency services and project management. Having a wide range of options available as per the client’s budget, we offer the best deals suiting your requirements. Our services offer our clients with the ability to canvas and pursue a variety of substitutes to determine the most cost effective solutions for their needs.

At Intelligence Consultancy Services, we have a highly experienced, dynamic and qualified team working 24x7 to fulfill our client’s requirements. We are committed to deliver the projects in time following international construction standards. Regular surveys are conducted to record changing trends of the industry that enables us to be the best in today’s fast changing world.

Services

We offer our clients with the following real estate services:

Commercial Property Purchase/Sales	Purchase and Lease Services
Property Brokerage Services	New Construction Services
Property Representations	Buyer & Tenant Representations
Site Selection & Acquisition Services	Feasibility Services
Market Surveys	Investment Analysis
Investment Syndications	Real Estate Speculations
Market Research Services	Property Management Services

Why Us?

# We locate the perfect property to suit your needs based on our sound experience of the market

# We provide superior services at a very nominal charge

# We believe in long term relationships based on mutual trust and understanding

# We recommend only those investments that will fetch assured returns

# We can go to any length to deliver our promises