Clean Thane Mission

Be it making bio-fuel from nirmalya (holy waste) or making the city digi-smart by launching an app, Thane has seen a wide range of developments in all spheres and always been at the forefront of new changes. Interestingly, Thane Municipal Corporation has ensured public participation in all initiatives.
With major infrastructural projects in the pipeline and several developments already taking place in the city, there is also a need to ensure cleanliness. And so, on 20th June, Mayor Sanjay More announced a cleanliness competition for housing societies, residential complexes and even slums of Thane. “The societies which win in this competition will be rewarded with 5% rebate in property tax for one year,” said Sandeep Malvi, Public Relations Officer, TMC.

While larger housing societies will be adjudged on parameters like solid waste management, tree plantation, efficient water utilisation, rain water harvesting, maintenance of fire equipment, regular payment of TMC taxes, voting awareness among residents, etc, slums in the city will be ranked on cleanliness of surroundings, water utilisation, gutter and nullah cleaning, electricity maintenance, etc.

The contest begins on July 15 and ends on September 15. TMC will examine the participant societies and slums from September 16 to October 16. Interested housing societies and slums can fill up the forms available at SWM office at Pachpakhadi by July 15.

Tata Realty & StanC acquire commercial assets worth Rs. 250 crore in Gurgaon

In a deal valued at Rs 250 crore, Tata Realty & Infrastructure and Standard Chartered Private Equity have purchased the commercial assets of Gurgaon-based builder M3M as a joint venture.
“The joint venture between the subsidiary of Tata Sons & the StanC NBFC acquired 25 acres @ Rs. 10 crore per acre from Gurgaon based builder in the first quarter of the FY,” said a source familiar with the development.
While the Tata group company has been exploring various investment options across Mumbai and National Capital Region, M3M has recently raised Rs 1,250 crore from Indiabulls Housing Finance also for a residential project.

Can a person looking to rent a house, be refused tenancy by housing societies? If legal experts are to be believed, housing societies frame their own laws. There are broad guidelines, or bye-laws, that every housing society adopts when it is registered. These rules and regulations govern the day-to-day functioning of the housing society. These are very essential for smooth running of the society.

Ajay Kumar, a 25 year old qualified professional has a harrowing experience whenever he has to look for a rented place. He has no criminal record either yet; he is refused leased accommodation by most housing societies. The reason? He is single. “Being single is a disadvantage because many housing societies prohibit their members from leasing their apartments to bachelors. They refuse to give no-objection certificate (NOC) to flat owners who agree to lease out their property to a group of singles,” Ajay explains.

Although disallowing tenancy to bachelors is the most common reason, it is not the only one, according to real estate experts. Generally, a group of singles is more likely to rough up the place and become annoyance for other members of the society. Moreover, bachelors tend to relocate more frequently and this doesn’t provide stability in rental income as compared to that from families.

Among other reasons for refusal of tenancy is having pets like dogs or cats. It is feared that pets my dirty the society premises or harm children. Further, people with certain meal preferences have also been denied lease. And the starkest is the rejection of tenancy on the basis of religion.
But, can the housing society overrule the flat owner? The by-laws of the society are framed under the Co-operative Societies Act, which provide specific guidelines to be registered with the municipal corporations, its governance structures, common area maintenance rights, dos & don’ts, accounting practices and various other covenants related to leasing/ purchasing a house within the society. In addition, The Act also offers a degree of flexibility to societies to add regulations of their own. For example, if there is a rule for tenants that they cannot park their vehicles in the parking slots allotted to members, then the housing society has every right to enforce it.

Individual societies are legally empowered to deny tenancy based on their by-laws. Although it is the legal right of the owner to lease his property, the housing society also has a say in it.

Can the by-laws be legally challenged? If a tenant feels a housing society has been unfair in any aspect, he can file a police complaint against it, claiming infringement of his rights as a citizen. “Any regulation which infringes on the fundamental rights of an individual can be challenged in the court of law. Every Indian citizen has the right to reside anywhere in the country and discrimination is not permitted on the basis of religion, caste, sex, eating habits or marital status,” proclaims Vinod Sampat, president, Cooperative Societies Residential Users Association, and a real estate lawyer.

Builder offers flats cheaper than MHADA, sued for misleading ad

A real estate firm, Ekta World, in their recent ad campaign showed an image of Anil Kapoor, who is endorsing the brand, claimed that it is selling flats at rates cheaper than MHADA’s. Ashok Mohnani, the owner of Ekta World, claimed that while in Virar MHADA’s latest homes were priced at Rs 6,500 per sq ft; the rates of his project are Rs 5,500 per sq ft.
However, Maharashtra Housing and Area Development Authority are furious with the construction company because the claims of the firm are false. MHADA officials have asked their Vice President S S Zende to initiate action against the firm for misguiding people. Zende said the proposal to initiate action against the builder has been moved to the vigilance department.
The builder on the other hand, maintains that he has done nothing wrong. “If MHADA serves me notice, I will reply to it,” Mohnani argued, adding that When MHADA-held lottery in February sold flats at prices higher than the market rate, we decided to launch such a campaign and it is solely based on the data that is available on the MHADA website.
The website of Ekta World shows a comparison between their rates and MHADA’s in Virar. According to their calculation, the per square meter rate quoted by the builder is R63, 418, while MHADA sold the same at Rs 73,816.

The housing authority has consulted Advertising Standards Council of India, that talks about fair competition and the technical department will check whether the prices and the areas of both the projects are the same and if not, then the advertisement will prove to be misleading. “We have goodwill and it no one can fiddle with it,” said a MHADA official.

What do you know about carpet area, built-up area and super-built-up area?

Nowadays, finding a home of one’s choice has become both easy and risky because of the wide variety of options available to choose from. A number of builders are out there providing you all that you require in a dream home in terms of construction, infrastructure, and much more.
However, finding out a home that matches your taste is not enough. Knowing a bit more technical details about your future home will keep things in your favour with less chances of builder exploiting your ignorance.

Homes are generally charged on the basis of the area. But, the usable area is not always same as that of the chargeable area. The difference between the usable are and the area you are charged for gives the space that is included in calculation.
There are certain terms which a buyer needs to keep in mind before buying a home because these terms will help you to calculate the amount you need to pay and evaluate whether the house is worth the money.

Carpet Area
Technically, carpet area is the net usable area measured wall to wall from its inner surfaces. Thus the thickness of the inner walls is not included. Carpet area is the actual usable size of the flat/villa minus the thickness of the wall.
This also includes the bathroom and kitchen. Any common areas outside the apartment like staircase, lift, security room, etc., are excluded from this calculation.

Build-up area
This is the gross area of the flat which comprises the carpet area as well as the thickness of the walls and the ducts. The build-up area can be 15-25 per more than the carpet area and sometimes known as the plinth area

Super Build-up area
It includes common amenities such as the area of lift shafts, lobby, and corridor, proportionately divided among all flats. The common usable areas, such as swimming pool, garden, and clubhouse may also be included in it. In other words, super build-up area is the total saleable area.
Ideally, the area of the common spaces should be calculated and added proportionately to each flat. However, the builders rarely do this. They consider 1.25 as the multiplying factor for calculating super build-up area, which is the result of multiplying the carpet area with 1.25. This would increase the total saleable area by approximately 25%.

The builders normally call it as the loading charge and sometimes also charge as high as 50% as there is no specific rule for loading charges. Thus for a 1000 sq ft flat which includes the super build-up in real only has 500 sq ft carpet area.
Hence for all those who are looking forward to own your dream home, it is very important to at least have a rough idea of these terms so that the builder cannot bluff things and make you pay for more than you are being offered in actual.

About Author:
Ankita Aggrawal is a business architect in real estate industry. She has 5 years of experience and she has got knowledge about various real estate projects including Villas in Bangalore . Projects in Bangalore, commercial properties,Residential properties etc.

Builder constructed temples to earn money, also booked for duping 455 real estate investors

Delhi-based builder, Manoj Bhardwaj, a director of Arun Dev Builders, is alleged to have conned nearly 455 depositors looking to invest in real estate. The accused is wanted in nine cases and has been arrested for duping investors in the National Capital Region and other places in North India,” Additional Deputy Commissioner of Police (South) Nupur Prasad confirmed.

Bhardwaj, who is in his early 50s, was arrested from his residence in Raju Park area of Neb Sarai in south Delhi. Apparently, He was in the real estate business for the last 22 years and lured people to purchase properties at throwaway prices. Interestingly, the builder had also constructed over 35 temples in various places to earn money from offerings and donations made by devotees.

He baited people by showing them his alleged projects in cities like Haryana, Rajasthan, Delhi and Uttarakhand.

“Bhardwaj had put up his company’s boards in different cities in North India where he took his prospective customers to trick them into a purchase,” the police officer said adding that several complaints against the accused were lodged in police stations in Gurgaon, Faridabad, Dharuhera and other places and investigations are on in the matter.

Now, Noida real estate attracts Sachin Tendulkar

The twin cities of Noida and Greater Noida have been attracting several celebs for a few years now and the latest to join the band wagon is the God of cricket, Sachin Tendulkar! The Master Blaster bought a flat at a housing society in Greater Noida and his wife Anjali came down to the city for the paperwork.

The legendary cricketer Kapil Dev also bought a flat in the same society, which adjoins an 18-hole golf course. Captain Cool Mahendra Singh Dhoni has spent a substantial amount for purchasing three plots and a flat on the Noida Expressway in 2010.
While Tendulkar is the seventh international cricketer to buy property in Noida, there are other actors and singers also who have investments in the city. Sadly though, none of these houses has turned into homes.

For cricketers though, a property in Noida is for either investment or business.
Given Kapil Dev’s fondness for golf, who is a national-level senior golfer now, the residents of Noida hoped that he would make the city his second home. However, the former World Cup-winning captain has chosen not to move to the city. As for Mr. Dhoni, his visits to Noida in the last six years have mainly been for ad shoots or promotional events.

Others like Ajay Jadeja and Saba Karim have chosen to buy land here and utilize it for their businesses. Both run cricket academies on their properties in Noida. Saba Karim’s academy in Sector 132 is the oldest in the city.

Hrithik Roshan

Hrithik Roshan, the heartthrob of millions is not only one of the best actors in town, but also an exceptionally smart investor. Speaking about his entrance into the real estate market, the handsome actor reveals that he trusts only real estate as a reliable investment instrument. “The first investment I made from my money was in a property,” he says.

“Buying a property is always a very sound decision,” says the star, who knows more than a thing or two about being hot property.

The Roshans have an extensive lineup of residential and commercial spaces in Mumbai as well as other parts of the country and abroad. Hence, for Hrithik, property is the best bet in investment ever.

Unitech shares slump over 2 per cent on compensation order

On a complaint filed by two home buyers—Diwakar Mishra and Vinay Kumar Singh—who had booked apartments in Unitech’s Noida luxury residential project in October 2010 and supposed to get possession by April 2012, NCDRC had asked the developer to offer possession of the flats on or before October 31, 2017 along with “compensation @ 12% per annum w.e.f. 16.04.2013 till the date on which possession is offered to them or till 31.10.2017, whichever is earlier.

The National Consumer Disputes Redressal Commission (NCDRC) had ruled in 2015 that Unitech will have to compensate the complainants on simple interest basis as they had already paid 95% of the amount for the property and the construction is still far from complete. Since the real estate company had failed to comply with the NCDRC order, the Supreme Court had earlier asked it to deposit a sum of Rs. 5 crore by June 10, 2016.

Upon petition from the builder for extension of time, the SC has now ruled that, “the sum of Rs. 5 crore be deposited with UCO Bank by August 5, 2016 failing which, the respondents are at liberty to move an application for contempt of this Court and in that event, the Directors of the petitioner-company may be sent to custody,” Justice Dipak Misra and C Nagappan said in their order.

The real estate firm Unitech is under the lens for extreme delay in completion of a high-end residential project Burgundy which was launched on the Noida-Greater Noida Expressway near New Delhi.

Following the footsteps of other Bollywood biggies, Emraan Hashmi too is keen to purchase a property in Dubai. As a regular traveller to the
UAE, he would stay in hotels and therefore, Emraan is desirous of owning a property like a holiday home.

“Emi already has bungalows in goa and a few properties in Mumbai but was looking for real estate options in Dubai for a long time now,” reveals a source close to the actor.

Like other actors, Emraan is interested in picking up an apartment on a 99-year lease rather than a sea-facing bungalow. United Arab Emirates has no property tax along with good rental options. Moreover, buying and selling of real estate is much simpler there. Nevertheless, unlike other stars, Emraan has no plans to sell the property anytime soon.

It is learned that Emraan has already shortlisted a few properties and will finalise one in next to no time. The apartment he’s most keen on is located in one of the hotspots of Dubai, the Sheikh Zayed Road. The place has big hotels and good restaurants among other prime facilities. It is also one of the roads that links the old section (Diera) to the new (Jumeira).