Archive for January 2017

Public objects to proposal for enhanced density for group housing plots in Noida

Residents of Noida have opposed the amendment, which will increase density of residential units in group housing plots above 1650 persons per hectare (ppha).

Public objects to proposal for enhanced density for group housing plots in NoidaNOIDA: Following a board meeting held in October last year, Noida Authority has proposed to amend its building bye-laws 2010. Having issued a public notice for incorporating the revisions, the Authority on Wednesday sought objections and suggestions for the proposed modifications from the public after which it will seek approval from Uttar Pradesh state government. The amendment foresees increasing density of residential area on group housing plots.

However, residents of Noida have opposed the amendment, which will increase density of residential units in group housing plots above 1650 persons per hectare (ppha). They have shot down the proposal citing Noida already being congested and an increased density in population would put pressure on existing infrastructure and basic amenities.

“We have recorded the objections raised by the residents, which will be presented in the next board meeting after being evaluated and resolved,” Deepak Agarwal, Chief Executive Officer (CEO), Noida Authority told TOI. “Our observations will then be forwarded to the state government before we can implement the revision,” he explained.

Speaking to TOI, Shailandar Baranwal, one of the residents who had raised the objections during the meeting on Wednesday with the Noida Authority’s planning and building cell departments said that the master plan of a city is a city development plan, which has already been designed and approved.

“Basic design data for the master plan is based on the physical, socio-economic surveys and prevailing building bye-laws. Based on this basic data the calculation of total land requirement for different uses and population of the city is fixed,” he explained. “On the basis of this, population and available land area, infrastructural facilities all over the city are defined. Any change in the building by-laws will change the overall character of the city. Hence in our opinion the change in building bye-laws, more particularly in density, will change the population of the city. This changed population will affect the provisions of various infrastructural facilities besides causing burden on them,” he said. “We have objected to this,” he added.

The amendments in building byelaws have also proposed that additional proportionate residential units be allowed on purchasable FAR for group housing plots. “Maximum density after purchasable FAR is allowed to group housing plots after amendment is proposed to be 1650 ppha. But as per our information the Noida Authority has already allowed a density of 1732 ppha since year 2012. How has this been done? Is the authority seeking approval from the public after builders have already been allowed to increase the number of units,” he asked. “We have demanded that a committee be formed and all such cases be examined for violation and appropriate action be taken against them,” Barnwal added.

Public objects to proposal for enhanced density for group housing plots in Noida

 

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The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Gr Noida authority collects details from Supertech’s Czar project; to submit in court on February 8

According to GNIDA officials, measures for setback area, parking spaces, built-up area and residential unit size in the society located in Omicron-I was also taken.

Gr Noida authority collects details from Supertech Czar project; to submit in court on February 8GREATER NOIDA: A day after Allahabad high court stayed the allotment of flats in Supertech Czar Suites project in Greater Noida, the Greater Noida Industrial Development Authority (GNIDA) mobilized teams of officials to gather details of the project. GNIDA officials on Thursday visited the project to obtain measurements of the actual land area used for the project. Allahabad high court has asked GNIDA to furnish details of the housing project on February 8 hearing.

According to GNIDA officials, measures for setback area, parking spaces, built-up area and residential unit size in the society located in Omicron-I was also taken. “I have asked my officials from the architect and planning department to collect all information,” said Deepak Agarwal, chief executive officer (CEO), GNIDA. “I have also directed officials to collect physical details of number of units the builder has built on the project. How many were sanctioned and allowed by GNIDA. How many have been constructed without permission, their area and numbers will also be recorded,” he said. “If we find any discrepancies in the allowed units and those constructed, we will take the appropriate action,” he added.

Agarwal further told TOI that they had not yet received the AHC order in the case. “We are awaiting the official court order copy. Once we receive it, we will comply with the court’s directions. Our action taken report along with our detailed findings about the project will be filed in our reply during the next court hearing, which is on February 8, 2017,” he explained.

The court had on Wednesday directed GNIDA not to issue completion certificates for the project and take appropriate action in accordance with the law against the builder. It also directed GNIDA to ensure one of its officers was present in court during the next hearing to assist the judges with facts of the case.

Czar is located in Sector Omicron 1 of Greater Noida and built across 20 acres that Supertech group was allotted in 2006. Around 450 families live in the society. Home buyers in the project had approached the judiciary when they did not get reprieve from GNIDA regarding their protest that the builder had built over 1,000 residential units in violation of sanctioned building plans.

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The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Mumbai builder gets 2 years jail for defying forum order to hand over flat

Forum chief A Z Telgote and member Tryambak Thool found Mishra had failed to hand over the flat within the promised time despite getting the entire sum of Rs 8 lakh.

Mumbai builder gets 2 years jail for defying forum order to hand over flatMUMBAI: In a significant ruling, a Thane consumer disputes redressal forum has held a builder guilty of non-compliance of an order passed nine years ago and sentenced him to two years simple imprisonment. The forum also imposed a fine of Rs 10,000 on the builder, R D Mishra, for failing to hand over a Navi Mumbai flat along with Rs 50,000 in damages to a buyer, as directed by the forum in April 2008. The ruling comes as a ray of hope for consumers who, when faced with an unexecuted order, must brace for a fresh round of legal battle. Activists allege that builders often don’t comply with consumer forum orders, either fully or partially. On January 4, the forum convicted Mishra, proprietor of Mishra Builders, over one such non-compliance application filed by Andheri resident Jagjit Gulhati.

Forum chief A Z Telgote and member Tryambak Thool found Mishra had failed to hand over the flat within the promised time despite getting the entire sum of Rs 8 lakh. In April 2008, based on the buyer’s complaint of defici ency in service, the forum had directed Mishra to hand over the flat to Gulhati with all the amenities, Rs 50,000 as compensation for mental agony and Rs 2,000 towards litigation expenses–within two months. It also directed him to pay Rs 200 per day for each day’s delay . However, more than 100 months later, the buyer’s wait for possession did not end.

The builder challenged the 2008 order all the way to the Supreme Court and lost–the apex court upheld the forum’s order. Mishra said the flat was not handed over to the buyer as he had not made the complete payment and was yet to shell out Rs 1 lakh. The builder said he was ready to give the possession, but was waiting for the balance amount. The buyer said he had paid the full amount.

The forum observed that the builder’s argument about the amount due to him was “raised for the first time“ and that after the April 2013 Supreme Court order, it was “obligatory for him to hand over possession immediately“ which he failed to do, making him liable to face punishment. The forum also observed that till June 2015, the building was not completed as the builder had stated in the affidavit that work on installation of a lift was yet to be completed. On January 4, the forum held that the buil der’s version about money be ing due to him could not be re lied uponand said, “He deliberately av oided complian ce of the order and de prived the buyer of his legitimate right since 2008.“ The Consumer Protection Act provides for penal action when a person fails to comply with an order.

Hailing the order, consumer activist Shirish Deshpande said, “It is not common at all for builders to be sent to prison for failing to comply with a consumer forum or a commission order. Orders like these are rare and serve to send a warning to builders that they should set their house in order.”

DISCLAIMER
The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Lending rates cut leads to balance transfers in home loan market: ICRA

Key lenders that together account for over 65 % of the home loan market, now offer interest rates in the range of 8.5-8.7 % after the reduction, compared with their earlier rates of 9.1-9.3 %, the agency said.

Lending rates cut leads to balance transfers in home loan market: ICRAKOLKATA: The lending rates cut, which effectively set off a price war in the Rs 13 trillion home loan market, could lead to increased competition and balance transfers in the highly competitive housing loan market, rating agency ICRA said in its report.

With a bulk infusion of fresh liquidity arising out from the demonetisation, State Bank of India reduced the lending rates for home loans by 50 bps to 8.6 percent (for floating rate loans), various lenders followed suit.

Key lenders that together account for over 65 % of the home loan market, now offer interest rates in the range of 8.5-8.7 % after the reduction, compared with their earlier rates of 9.1-9.3 %, the agency said.

“While the reduced rates are applicable for new loans and loans linked to Marginal Cost of Funds based Lending Rate (MCLR), this could lead to increased competition and balance transfers in the highly competitive Indian housing loan market, especially the prime salaried segment,” the report said.

Loans linked to MCLR for banks were less than 15 percent of the overall home loan book, it said.

The report said lenders might also try to retain borrowers by giving them the option to shift to a lower interest rate by paying a fee.

Housing finance companies (HFCs) would also benefit from the reduction in MCLR by various banks and should be able to re-price a portion of their liabilities.

However, the report said the smaller HFCs are likely to get impacted more on account of their relatively higher operating cost ratios.

“Given that only a few HFCs would be able to match the interest rates being offered by banks , this could lead to some balance transfers from HFCs to banks and hence an increase in banking sector market share,” the report added.

DISCLAIMER
The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

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