Notification Dated 12th August 08 saying Lal Dora area is Residential. Click Here to View
Delhi is best bet for realty developers, investors: Report
Source: Realty Plus
November 13, 2009
Delhi continues to be the preferred choice of developers and investors for real estate with fast-paced improvements in physical infrastructure, emerging flyovers, underpasses, pedestrian walkways, high-capacity buses, hotels and townships being a key influencing factor, according to a latest report.
A FICCI- Ernst & Young scorecard of top 30 cities in 2008, said improved air quality, and reduced slum population in Delhi also helped improving the quality of life. The growth of Gurgaon and Noida as preferred destination for office space for some leading global companies contributed to the business environment index.
Mumbai ranked a close second and scored better on the business environment index though its pace of infrastructure development was slower.
The report indicates that a functional metro railway, modernisation of the international airport, road widening projects and dedicated efforts to make the ring roads signal free had gone down well with the respondents.
Compared with the 2007 report, cities ranked between 11 and 20 have seen a shuffle of sorts. Goa is a notable entry into the top 20. Vishakhapatnam, Kochi, Coimbatore, Amritsar, Bhubaneswar, Guwahati and Madurai moved up in the order, while Vadodara, Bhopal, Rajkot and Lucknow dropped lower.
The report, comprising the rankings and factors influencing the growth of the 30 cities, key trends and tax and regulatory climate, and the developer-investor survey was released at a FICCI real estate summit here on Thursday.
Ganesh Raj, partner and national leader, Real Estate Practice, Ernst & Young, said “This year’s report among others covers key trends and tax and regulatory climate across six key geographies, city rankings and developer-investor survey. The real estate sector seems to be one of the worst hit sectors across all geographies in the economic slowdown.”
Some key findings of the survey indicated that the market seemed to have recovered faster than what many expected. The sentiment on the sector was optimistic with 77 per cent of the respondents believing that the pain was short-lived this time. However, many respondents warned that the quick recovery, frantic buying and new launches could once again cause a real estate bubble and advised cautious planning.
Delhi and Mumbai saw high-end residential continuing to be relatively strong compared with the rest of the country, though sales had considerably slowed down. Eighty per cent of the investors were in favour of funding the residential segment. Markets across most regions are primarily driven by end-users. In Mumbai, the high-end residential segment in particular is slowly experiencing short-term investors creeping in, the report said.
DDA denotifies colonies in South-west-east Delhi
At a meeting chaired by the Lieutenant Governor of Delhi, the Delhi development Authority (DDA) decided to denotify several areas of South, West & East Delhi. As per reports received through PTI, this move would pave the way for civic agencies like MCD to extend their services to these areas.
Some of the areas listed for denotification include colonies like Masoodpur, Mahipalpur, Mehrauli, Vasant Kunj Enclave and other Laldora colonies under development area 176 in the South-West zone. The denotification of this area also would indicate that MCD would take immediate control of building activities as per building byelaws and provisions of Municipal Corporation Act, as the same would apply henceforth, a DDA spokesperson said. Similarly, denotification of development area 18, 74, 100 and 181 in the east zone which includes areas such as Yamuna Marginal Bund, Gazipur, Hasanpur, Mandawali Fazalpur, Shakarpur, Gharoda Neem Ka Bangar, Shahdara, Chiraga Mondli, Dallupura, Chilla Saroda Bangar was also approved.
“Never mind. Suffer for some more time” – says Supreme court
By Ruchika Bhardwaj
The title of this article is not supposed to scare, but to point out the objectivity with which the highest courts are tackling the many relevant, as well as frivolous cases filed in the Supreme court, related to the Delhi Master Plan MPD 2021.
During last week, a three Judge bench of Justice B Sudershan Reddy, P Sathasivam & G S Singhvi declined to have an early hearing to many a petitions and applications moved before it on the properties which were sealed OR related to unauthorized constructions in Delhi. The Apex court reasoned that the principal issue which they would consider first is the challenge to the validity of the Delhi master plan 2021. It also gave heed to the more than 400 odd applications which are in some way connected with the principal issue of the validity of MPD 2021. Several NGOs and vested interest parties had challenged the validity of the MPD 2021 on grounds that many of the decisions taken under the draft master plan 2021 would lead to chaos in the capital as it is already reeling under shortages of power, water, civic infrastructure, motorable roads etc.
While some counsel were pushing & pleading that the Apex court take up individual applications relating to sealing, at an earlier date than September 2009, the bench issued a cryptic rejoinder – “Never mind, suffer for some more time. It is just a question of a few days more”. Very rightly so. It has decided to address the core issue of the validity of the MPD 2021, rather than the individual applications.
One would recall that the court had said last year that the relief sought by many applicants claiming relief under the latest amendments to the master plan, as well as the various regularization of unauthorized colonies would be subject to the outcome of the matter already under the courts’ scrutiny. Moreover, a high powered committee assisting the courts in assessing the feasibility of de-congesting the city had expressed reservations on the rapidly growing population without a corresponding development of infrastructure.
Senior counsel Ranjit Kumar pointed out during the hearing last week that since most of the arguments & pleadings have been concluded, the court can fix the matter for final hearing.
We are likely to hear more about this around the 15th of September’ 09. Like they say – “Inshallah, let brevity be injected so that we decisively move forward, rather than sway sideways”.
Are current Gurgaon prices sustainable?
TOI reported this on 17th July 09
Haryana has entered into a deal with real estate developers to provide affordable housing and is inviting expressions of interest for building 8,000 flats in NCR areas in the state. In a move expected to give a big push to the housing sector in Gurgaon and Faridabad, the Haryana Housing Board is in the process of inviting expressions of interest for building 8,000 flats in these cities and some other places in the national capital region areas. This is in addition to the 38,000 housing units, majority of them in NCR, planned in the next two years.
Under the latest project, the state will enter into an agreement with real estate developers to provide affordable housing to middle and lower middle class under the public private partnership mode.
‘‘Since we do not have land in Faridabad and Gurgaon, we will be joining hands with private colonizers whose projects have been stuck due to the (economic) slowdown. We’ll prefer those who have the licence, and then those who have enough land,’’ said S P Gupta, chief administrator of the housing board. The announcement follows chief minister Bhupinder Singh Hooda’s assurance to developers that steps will be taken to counter the slump in the real estate market. It will also fulfil his commitment of providing cheap housing to locals, especially those in NCR cities of Gurgaon and Faridabad. Among the other areas selected for the project are Bawal (in Rewari district close to Gurgaon), Badhi (Sonepat) and Karnal. Officials claim that around 828 units would come up at Badhi, a township to the north of Delhi.
* There would be Supply of approx. 50,000 acres of R- Zone developable/ urbanizable land in Delhi. Hence more land available for development.
* Land prices in Delhi even today is 60% lower than Gurgaon, it means lower FSI cost.
* Development norms in Delhi are likely to be more simplified.
* Quality of construction is likely to be better in Delhi.
* Haryana Government likely to construct houses in Price range of Rs 20- 25 Lacs.
Above points indicates that, If Delhi prices are x, Gurgaon prices has to be x-20% (20% lower than Delhi) .
Six more metro routes proposed by Government
Dated: 20th June 09
Government has proposed six more metro routes in Delhi based on the demand. Three routes out of six are similar to those suggested by Delhi Metro Rail Corporation (DMRC) on the basis of the detailed project reports (DPRs) prepared for Phase III and Phase IV in the capital.
Following Metro lines are proposed on bases on commuters’ demand & population density:
- Rithala to Bawana via Barwala
- Narela to Najafgarh via Bawana
- Mundka to Delhi border via Gherva
- Dwarka Sector 6 to Shahbad Mohammedpur
- Jehangirpuri — Dhaula Kuan-Moolchand-Nehru Place-Kalindi Kunj
- Jehangirpuri to Sagarpur
Three of the proposed routes, however, are similar to the ones proposed in DMRC’s Metro masterplan. For instance, the survey has identified a Metro link from Rithala to Bawana via Barwala and DMRC’s phase III plan also has a Rithala-Barwana route. Also, the survey has proposed a Mundka-Ghevra-Delhi border route, while DMRC has plans to extend the Mundka line to Bahadurgarh in Phase III. The Jehangirpuri-Kalindi Kunj route proposed in the survey also finds similarity in DMRC’s proposed link from Mukundpur to Dhaula Kuan.
The other routes proposed by DMRC for Phase III, which are still awaiting the Delhi government nod, include links between Mukundpur to ISBT Sarai Kale Khan, Central Secretariat-Mandi House-Daryaganj-Welcome-Nawada, Rithala-Barwala, Airport link to Gurgaon Sector 48 to Sushant Lok, extensions in Badarpur, Faridabad and Ghaziabad proposed as part of Phase III. As planned, this will add another 114.67 km of Delhi Metro to the NCR.
As per the practice, the routes suggested by DMRC are submitted to the government for approval, and construction on the new lines begins only after that. There have been instances in the past where the government has made alterations to some of the suggested routes, and the decision of the government in such matters is considered final.
This indicates the good future of Zone –L & N under Delhi Master plan (MPD)- 2021
Higher Education Institutes permitted on Lal Dora Land
New Delhi: In a declaration made by Delhi’s Chief Minister Sheila Dikshit stated that all the academic institutions operating in“lal dora” land will be allowed to operate in the coming academic session 2008-09.
She made this public on Monday saying that, “Perspective plan for technical education”. The government was committed to facilitate continuation of the existing higher educational institutions, which were passing out approved courses from “lal dora” (delhi) and other non-confronting areas. Moreover, the Government has given approval to increase in intake of students as well as introducing new courses.
Other higher institutions benefiting from this decision of her’s are Guru Gobind Singh Indraprastha University, 13 institutions currently functioning in lal dora land including those in rented premises and seven diploma level institutions running under the Directorate of Training and Technical Education