Industrial News

By -


TELANGANA TO COLLECT LAYOUT REGULARISATION FEE BASED ON LAND VALUE


Municipal Administration Minister KT Rama Rao, informed the assembly the state government decided to collect Regularisation fee based on the land value at the time of Registration of the plot by the applicant instead of the current registration value. It might come as a boon to thousands of poor and middle class families who purchased plots several years ago and have to get them regularised now.


OVER 29,000 RTM FLATS LAIN VACANT IN DELHI


Over 29,000 ready-to-move flats constructed for the urban poor under Jawaharlal Nehru National Urban Renewal Mission in Delhi have lain vacant for a long time. One of the main reasons behind these flats not being allotted yet is the lack of coordination among the multiple agencies involved.


A Delhi government official claimed that one reason why no one has been shifted is the reluctance of land-owning agencies to pay Delhi government for the relocation. Under the Delhi Slum & JJ Rehabilitation and Relocation Policy, notified in 2015, a land-owning agency has to pay Rs 7.5-11.3 lakh per flat to DUSIB in advance to meet the cost of construction, land and process of relocating residents of slums. The land-owning agencies benefit by having their plots freed of encroachment.


KARNATAKA TO REGULARISE 21,000 ACRES OF WASTELAND


The Karnataka State Government plans to sell ‘B’ kharab land (Wasteland) within 18km of Bengaluru at double the guidance value. The cabinet recently cleared a proposal to amend the Karnataka Land Revenue Act, 1964, to enable the government to sell about 12,000 acres of ‘B’ kharab land in Bengaluru Urban and 9,000 acres in Bengaluru, which is expected to fetch around Rs 2,500 crore. “Whenever the government allots land, that land sometimes contains kharab land, for which the government would not have recovered the cost. In Bengaluru, land prices have shot up so much that this land, too, fetches good value for realtors. Therefore, the state will recover cost from them to legalise it in their favour. Most kharab land is used to build housing or commercial complexes,” said law minister JC Madhuswamy.


UP RERA URGES STATE TO REDUCE STAMP DUTY BY 2%


The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has requested the state government to reduce the stamp duty on property registration by two percentage points to help attract homebuyers amid unprecedented demand shrinkage caused by the pandemic. Additionally, it has also requested a flat Rs 2,000 registration fee for agreement-to-sale documents, which is currently at 25% of the stamp duty charges.


A Rs 50-lakh property sale attracts Rs 2.5 lakh stamp duty at 5% on present rates and an additional Rs 65,000 has to be paid (25% of Rs 2.5 lakh) as registration of agreement to sale. If this move implemented, is expected to give a boost to the realty sector, providing relief to developers with unsold inventory over the years.


GST OFFICIALS SEIZE INCRIMINATING DOCUMENTS FROM BRICK KILNS


A team of 60 GST officers conducted searches in 21 places of four major brick manufacturers in Thadagam and surrounding areas in Coimbatore district. The officials seized incriminating documents and materials exhibiting tax evasion after search. “The tax evasion may run into atleast Rs 10 crore,” said an official.


As many as 196 brick kiln units are presently operting at Thadagam and surrounding areas in Coimbatore district. The building bricks attract 5% of GST. “Many brick manufacturers did not maintain invoice for the sales and they involved tax evasion. Based on the intelligence received and developed by the Goods and Services Tax (GST) department, the search was conducted for the four major brick manufacturers,” said the official.


THE APPROVED PLOTS NUMBERS IS ON THE RISE IN CHENNAI


The number of approved plots is on the rise in Chennai Metropolitan Area (CMA). Realtors said the trend means that authorised housing plots are coming for sale in the market and promoters with unsold unapproved plots are regularising their layouts.


The Chennai Metropolitan Development Authority (CMDA) has approved 57 housing layouts comprising 4,461 plots in the city and suburbs that fall in the three neighbouring districts between January and July this year. A majority of approved housing sites in 2020 are located in the western suburbs such as Kundrathur, Poonamallee and Avadi. Eighty-two housing layouts with 4,285 plots were approved by the planning authority during the same period last year. The rush by promoters with unapproved plots was the major reason for the jump in the number of applications seeking nod from the CMDA.


INTEREST WAIVED ON PREMIUMS FOR REDEVELOPMENT PROJECTS


Another relief for Mumbai developers, the Maharashtra Housing & Area Development Authority (MHADA) waived interest payable on premiums for redevelopment projects under Development Control Rules 33 (5) and affordable housing projects under Prime Minister Awas Yojana (PMAY) scheme from March 25 till December 24, 2020, due to force majeure conditions.


K-RERA PENALTY ON MARKETING UNREGISTERED PROJECTS


Kerala Real Estate Regulatory Authority (K-RERA) has warned promoters, agents and firms against marketing of real estate projects through printed, visual and social media without doing mandatory registration with RERA. The authority has cited that in case of RERA registered projects, the promoters shall show the RERA registration number in a visible manner in all their advertisements/prospectuses. Likewise in the case of the projects that are not bound to be registered, the promoters shall have to indicate/write the same clearly in all the advertisements/prospectus.


CEMENT DEMAND TO DROP BY 10 TO 15 %


Cement demand is expected to decline by 10 to 15 % year-on-year in the second quarter (July to September’2020), India Ratings and Research (Ind-Ra) said recently. Rural demand will continue to outperform urban demand and companies having higher individual home builder exposure will remain better placed. Companies like Dalmia and Prism Johnson witnessed lower-than-average volume declines aided by their higher rural exposure.

However, Ind-Ra expects around 65 per cent of the announced capex for FY21 to come onstream (around 20 million tonnes expected in FY21), given that much of this is in advanced stages. In conjunction with the decline in the demand, the additional capacity will widen the oversupply in the market, said Ind-Ra


Popular posts from this blog

Weird Architecture - Part II

By -
Image
Wuxi Wanda Cultural Tourism City Exhibition Center - Wuxi, China A giant rotating teapot, this building is a Chinese exhibition centre designed to reference local customs. The building's rotating structure also allows it to serve as a micro roller coaster, ferris wheel and water park.  Cube House - Rotterdam, Netherlands Designed by architect Piet Blom, this set of tilted houses was designed based on the concept of "living as an urban roof". Cubes of conventional houses are tilted by 45 degrees and rest upon hexagon-shaped pylons. The purpose of this design is to optimise the space and have improved distribution of the rooms inside.  Dancing House - Prague, Czech Republic Dancing House was designed by Vlado Milunic in cooperation with Frank Gehry in 1992, and completed in 1996. It serves as the building for Nationale-Nederlanden, a Dutch insurance company. Its deconstructivist style (or "new-baroque") was controversial at the time because it stood out so much co...
Read more

Difference between TMT Bar and TOR Steel

By -
Image
Steel bars are integral part for all type of construction that is used to reinforce the concrete. In construction, steel bar is the most important material because it is not only reinforcing the concrete but also saves the construction from easy wear and tear due to rust or any natural calamity such as an earthquake. Here we will discuss about the different types of steel bars that are of different categories. Generally the property and type of steel bars varies depending on the geographical and environmental factors. In present days’ construction technology prefers to use TMT bars in construction but before it, till 90’s CTD or TOR steel were used vastly. TOR  stands for Toriseg Steel Corporation of Luxembourg. It refers to a brand name. The name became so popular that TOR became synonymous with  CTD  or Cold Twisted Deformed steel bars. During the time period seventies to nineties, TOR steel was used for reinforcement purposes of the construction massively. Thereafter, ...
Read more

9 Amazing Indian Architectural Styles Part 1

By -
Image
Indian Architecture has always been inquisitive due to its magnanimity and the arty creations. Our country has a plenty of monuments, baroque and modernistic buildings which echo the tales of their era. Did you know that among the 830 World Heritage Sites listed by UNESCO, 26 belong to the Indian Soil? India has seen a number of architectural styles which developed the course of history. In this article, we are trying to take an overview of 9 such amazing Indian architectural styles! Temple Architecture Temple architecture has deep roots in India. It has developed in almost all the regions in the country. Although the origins of the style are the same, we can see a substantial differentiation and variety of architectural styles in temple construction. This variety is mainly caused due to the geographical, climatic, racial, ethnic, linguistic, and historical diversities in India. Primarily, the Indian temple architecture has been classified into three broad types, namely; Nagara or the ...
Read more