National Federation Of Builders

NEW DELHI: The government has notified amendments in the Delhi's Master Plan which will also allow shop-cum-residence complexes to continue with activities permissible in a local shopping centre (LSC), subject to conditions.

The LSCs are government-approved marketing zones which cater to the day-to-day needs of the local population.

As per the amendments, in case the total floor area ratio (FAR) in the "existing building exceeds the permissible FAR on plots of size above 100 sqm and upto 250 sqm, such excess FAR (upto maximum 350) shall be permitted subject to payment of penalty charges amounting to 1.5 times the applicable charges".

The FAR is the ratio of a building's total floor area to the size of the piece of land on which it is built.

Over the past two years, the residential real estate markets in India have been passive. In Gurgaon, until the middle of 2016, the city witnessed subdued transaction activity and restricted new supply, with the demonetisation drive further impacting the market. Cautious buyer sentiment, coupled with high levels of unsold inventory, resulted in a slowdown in construction activity and sales.

While there were a few projects in the third quarter of last year, the focus of most developer ..

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Gurgaon’s residential real estate market in revival mode Gurgaons dominance as a corp hub and connectivity to Delhi are providing an impetus to realty growth.

NEW DELHI: Housing prices remained largely stable during the last month across the country's seven major cities while supply dipped marginally, according to property consultant CBRE.

"After recording an improvement in sentiments in August, the residential market saw a marginal dip in fresh supply of housing units during September," CBRE South Asia CMD Anshuman Magazine said in 'India Realty Market Update' for September.

The consultant tracks real estate market of seven ..

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WE wish To all A Very Happy Navratri .

Indian real estate market, in 2012, increase in circle rates in Delhi/NCR Property, had came as a huge dampener to the realty sector in 2012. Recently, the circle rates were raised in Delhi in the range of 20-200 per cent across different categories of properties in the city. Category A localities of Vasant Vihar, Shanti Niketan, Anand Niketan saw a steep hike of 200 per cent, Category B properties saw a jump of 50 per cent while properties in the remaining six categories – C to H – saw a hike of 20-25 per cent.
The decision, effectively, ‘spared’ people in middle-class neighbourhoods and urban villages across the city, and in many ways is being seen as a ploy to appease vote banks and garner greater moolah for the Delhi government’s revenue department.
But there are other aspects to this increase: for genuine buyers this may be good news as they can avail higher loans from banks and financial institutions. These institutions typically disburse loans on the basis of sales deed, which take into account circle rates. Buyers can avail up to 80-85 per cent of the total circle rate as home loan, which is extended only on the basis of the white component of transaction amount. But the major question is – what is the real implication of this raise for home buyers: is it a curse all the way or could it be a blessing in disguise
Real estate properties are registered at circle rates. Circle rates were introduced in July 2007 only and the capital was divided into eight categories. Circle Rate is the minimum valuation at which properties are registered with the government. On the upside, the revision in circle rates can help minimize the difference between the average market rate and the existing circle rates. While the increase tends to make registration of property a costlier affair, it also allows property valuation to move closer to fair or market value. It’s a well-known fact that market value of property is far higher than the value shown on the sale or lease deed to pay stamp duty.
The raise is expected to bring greater transparency into the Indian real estate market. Even as circle rates have been revised upwards, the prices at which properties are being registered continue to remain below the actual market value and provide scope for the absorption of black money in property transactions. Therefore increase in circle rates can definitely help bring about a greater degree of transparency in the market and while the total sales price will increase marginally with the upward revision in the base rates, it is likely that the impact on the consumer will be negligible. Therefore, it is unlikely that genuine buyers will defer property purchase or registration as a consequence of the upward revision in circle rates.

How are circle rates determined: It seems many factors are taken into account while determining the benchmark ‘circle rate’ like land rates, multiplicative use factors, cost of construction, type of structure, minimum rates of built-up flats and multiplicative factors for private flats. However ‘circle rates’ are not determined based on any specific methodology or calculation but rather as a function of market dynamics and trends, which reflect the number of properties being registered with the authorities concerned and the price bands at which property transactions take place. Property prices on the other hand are governed more by the principles of demand and supply.
Higher the base rate levied, higher will be revenues generated as registration fee and stamp duty is calculated as a percentage of the registered price of a property. So the increase in circle rates means greater revenue for the government. “The raise implies an increase in the capital gain tax, as the capital gain is computed with reference to low circle rates instead of market rate. It has been noted that with the increase in the circle rates, there has been a sharp drop in the registries, which take place at the all sub-registrars throughout Delhi.
The reason for this decline is the high charges for registration and less role of black money. Overall the increase will not only curb black money, but it will get more revenue and save people from accepting part-payment in black. The decision will deter to some extent real estate traders from making speculative investments. This will result in lesser avenues available to park ill-gotten wealth too. This is definitely a good step! The raise may curb speculation by those who had more un-accounted money, that is cash, and also due to high tax incidence. This is another step that will prevent the use of cash earned through corrupt means or earnings on which taxes are not paid.
It is unlikely that the genuine home buyer will defer registration of the property – after all a title deed is an important document, which a genuine buyer would like to possess despite increased cost. Moreover the net impact of increased circle rate would still be marginal compared to the property value. Developers, though not directly affected, say that they are negatively affected by this increase.
Rise in circle rates definitely restores transparency in the business, yet it does make a difference to the developers in the sense that developers might lose out on their project sales due to the addition of the cost component to the end user. Increase in circle rate implies additional stamp duty amount to be paid by the customer to the treasury, thus his total outflow will increase and there will be pressure on the developer to reduce the market rate so as to compensate for the extra stamp duty amount paid by the allottee.
Developers feel that while it becomes easier for a particular set of consumers to arrange for higher loans and formalize the purchase, another band of consumers might not want to pay as much in white money and the raise certainly tends to w**d out the latter.
Developers fear that the cost of land acquisition will increase. Increase in circle rate will not affect the prices of running projects, as the prices are determined through market dynamics; however prices of the future projects will increase as cost of acquiring land will increase.
The cost of acquiring land for residential projects is already very high in Delhi NCR and any increase in circle rates may shatter the dream affordable housing. Although increase in the circle rates will bring more transparency in the transaction, it will also increase prices of future projects in the same area, as cost of acquiring land increases.

new draft Master Plan for Delhi-2021 is a great opportunity for developers and investors as the new residential zone policy, expected to be notified by the in the near future, would open up 26 villages in southwest Delhi for development.
Delhi, the national capital, has the distinction of address value, apart from its status as the pre-eminent socio-economic hub.
The period of forty five days for suggestions or objections on the new residential zone policy published by the DDA on April 18 lapsed on June 2 and all the stakeholders are now eagerly awaiting the notification of this policy, which has been modelled on the lines of land pooling procedures.
DDA has finalized its policies on green belts, as well as for low-density areas. The low-density areas represent 26 villages where farmhouses on one acre would be permitted with up to 30% floor-area ratio (FAR). This policy declaration has, according to realty experts, triggered aggressive but hidden movement by investors, including NRIs, giving a big boost to these areas.
Experts say that although the policy on residential zones still awaits publication, investors are consolidating their stakes here silently, keeping in mind past experience where even a little demand raised the market to exorbitant levels. Those levels are still lower, compared to the going rates in the surrounding areas, and considering the new developments projected for these residential areas.
The most upmarket area in the NCR is Gurgaon while Noida, Faridabad, and Ghaziabad are a few notches lower considering Gurgaon’s job opportunities and its overall ambience.
The Najafgarh Jheel demarcates Delhi from Gurgaon on this part of Delhi. The area falling between the four landmarks, namely, the stretch of Jheel on one side, Dwarka on another, NH-10 (Rohtak Highway) on another, and Jhajjar (Haryana) on another has been named Zone-L in the new residential zonal development.
The villages on the periphery of Delhi would be retained as green belts, acting as the lungs of Delhi.
The upswing in residential zone land prices in Zone-L are likely to be higher in comparison to other zones like N, P1, P2, K1, K2, and J. This is on account of Zone-L’s USPs, namely: proximity to the IGI airport, close proximity to the forthcoming 186-acre 18-hole golf course, the planned second diplomatic enclave in Dwarka attracting VVIP security and its excellent ambience, the proposed AIIMS II, and the forthcoming Kundli-Manesar-Palwal Expressway, among others.
Prices in Zone-L currently range between Rs 3.75 crore and Rs 5 crore per acre, which were around Rs 2.5-3.25 crore per acre only about two months ago. Experts are of the view that the prices would further increase by not less than 50% once the DDA notifies the new residential policy. This could be a very rare opportunity for investors to buy land, as there is little or no land left in Delhi for further urban development.
Realty experts say that in the near future this area would be competing with the well-maintained South Delhi, as far as land prices and demand are concerned; the area is also in close proximity to South Delhi.
Out of the two brackets of land holdings, namely from 7.5 acres up to 50 acres (which get 40% residential FSI), the other, over 50acres, gets 53% residential plus 5% commercial plus 2% institutional, giving much more yield in terms of FSI and hence more lucrative investment option for investors.

Is Responsible For NGT Order ? Builders Or Buyers.

The directives of the National Green Tribunal have been creating a lot of ripples in real estate circles. The Tribunal has banned all construction activities in the area between NH 24 and Char Murti Chowk in Noida Extension and in the vicinity of the Golf Course in Gurgaon.

The repercussions of the Tribunal's order in the Okhla Bird Sanctuary case are still being felt by buyers and builders alike with no immediate resolution in sight. It must be mentioned that as many as 30,000 home owners have been affected by the NGT's directives with regard to the eco-sensitive zone around the Bird Sanctuary and many developers are waiting to give possession of flats that are in a complete state of readiness.

At some point one is forced to ask the question - who is actually responsible for this? The NGT might say that it is the builders that have brought this upon themselves by undertaking construction activities in eco-sensitive zones or by failing to adhere to the guidelines issued by the Ministry of Enviornment and Forests in 2010.

However, it is not actually that simple. Builders started their construction activities on the land which they acquired from developmental authorities which would tend to absolve them of blame - at least in this respect. Not being sensitive to the ambient environment, on the other hand, is a situation that developers are totally responsible for.

in lending rates may signal better times for real estate.

few days ago Raghuram Rajan, the governor of the Reserve Bank of India, had stated that the Reserve Bank of India had announced interest cuts and the cost of funds had definitely gone down. He had also stated that banks had not displayed the requisite keenness to pass on those cuts to other borrowers.

Banks, since then, have announced a cut in interest rates and that is welcome news for the property sector because a drop in lending rates will herald the beginning of good times after a significant period of less-than-encouraging growth. Simply put, a decrease in the interest rate means that the borrower can avail of funds at a cheaper rate. However, it also means that lenders have diminished opportunities of earning interest which encourages them to move towards the equity market to maximize future earnings.

Any side that you consider, a cut in interest rates is welcome news. “It is encouraging that these banks have taken the initiative, leaving other banks with little option but to follow suit”. “The housing loan segment is an extremely competitive one, and it is noteworthy that home loan disbursements in the Pune region had reduced significantly in recent times. With this positive development, we expect the rate of loan purchases via home loans to begin picking up in Pune, which is a very cost-sensitive market”.

The fact that banks have announced a drop in lending rates has also been welcomed by realtors like Arvind Jain, managing director of the Pride Group. “It is very encouraging to see that several banks are complying with the RBI’s strong indications for the need to reduce their lending rates”, he says. “This will have a favourable effect on sentiments currently prevailing in the housing sector, which have been dampened in the recent past”.

Of course there is no magic wand here and nothing is going to happen overnight. However, the process has begun well and as they say, well begin is half done.

Some Tips Will Make You Secure From Builders | Indian Real Estate Discussion.Get correct & proper Information From National Federation of Builders (NFB).
#अपना खुद का घर खरीदने का सपना हर नागरिक का होता है। बड़ी आय समूह वाले नागरिकों की बात है तो वे अक्सर प्रतिष्ठित, विश्वसनीय व ब्रैंडेड बिल्डरों के प्रॉजेक्ट में ही फ्लैट लेना पसंद करते हैं और खरीदते भी हैं। लेकिन, कई बार बिल्डरों के लुभावने वादों के चक्कर में आकर वे ठगे भी जाते हैं। इससे कैसे बचा सकता है, आज हम आपको बता रहे हैं...

1) पाई-पाई जुटाने की जुगत

घर लेने के लिए लोग जी-तोड़ परिश्रम कर रहे हैं। यहां तक कि सपने के घर को साकार करने के लिए पत्नी भी कोई न कोई नौकरी पकड़ लेती है ताकि वह भी परिवार के लिए कुछ अतिरिक्त रुपये जुटा सके। घर खरीदने के इस प्रयास में महिलाएं अपने सभी गहने तक या तो गिरवी रख देती हैं या फिर बेच देती हैं। इसके बाद भी उन्हें या तो बड़ी रकम होम लोन लेकर देनी पड़ती है या कहीं न कहीं से उधार लेना पड़ता है। इस जी-तोड़ मेहनत के बाद जुटाई गई रकम से किसी भी परिवार का यह सपना अक्सर पूरा भी जाता है। पर कई बार ऐसा भी हो जाता है कि सपने के घर को खरीदते-खरीदते बहुत सारे लोग किसी न किसी बिल्डर की चीटिंग का शिकार होकर अपना सब कुछ गंवा बैठते हैं।

2) अधिकांश बिल्डर ईमानदार

यहां हम स्पष्ट कर दें कि अपने पेशे के प्रति ईमानदार बिल्डरों का औसत 90 फीसदी से भी ऊपर है। लगभग हर जगह फैले हुए गिने-चुने बिल्डर ऐसे हैं जो गलत तरीके से अपने ग्राहकों के साथ चीटिंग करते हैं। इनमें से भी कई बिल्डर ऐसे होते हैं जिनके प्रॉजेक्ट जमीन सौदे को लेकर उपजे किसी न किसी विवाद के चलते बीच में रूक जाते हैं और कई बार तो हमेशा के लिए ही बंद हो जाते हैं।

3) फ्लैट की नाप-जोख

चीटिंग की सबसे अधिक गुंजाइश फ्लैटों के क्षेत्रफल की नाप-जोख में रहती है। नियमों के अनुसार, अब बिल्डरों को कारपेट एरिया के आधार पर ही अग्रीमेंट करना पड़ता है। इसके बावजूद यह जरूरी नहीं कि आर्किटेक्ट की डिजाइन में हॉल, बेडरूम और किचन/बाथरूम की जो वर्गफुट साईज दिखाई गई है, वह वास्तव में भी उतनी ही निकले। इसमें भी सीढ़ियों, लॉबी, कॉमन प्लेस और दीवारों तक के क्षेत्रफल को सुपर बिल्ट-अप एरिया के नाम पर बड़ी ही चतुराई से बेच दिया जाता है। हालांकि चोरी की यह चतुराई भी इक्का-दुक्का बिल्डर ही करते हैं। ऐसे में, आपको मिल रहे कारपेट एरिया का साइज नाप लें।

4)निर्माण का समय व गुणवत्ता

आपके प्रॉजेक्ट वाली इमारत के निर्माण में यदि निर्धारित समय से अधिक समय लग रहा है, तब भी आपको चौकन्ने हो जाने की जरूरत है। सामान्य तौर पर किसी 4 मंजिली इमारत में घर का पजेशन डेढ़ से दो साल, 7 मंजिली इमारत में पजेशन करीब 2 साल, 12 मंजिली इमारत में पजेशन करीब ढ़ाई से 3 साल और 12 मंजिल से अधिक ऊंची इमारतों में घर का पजेशन 3.5 से 4 साल के भीतर अनिवार्य रूप से मिल जाना चाहिए।

5)प्लॉन अप्रूवल का स्टेटस

चीटिंग की अधिकांश घटनाएं बिल्डिंग प्लान के अप्रूवल को लेकर भी होती हैं। गलत नीयत रखने वाले बिल्डर (एकाध विंग की छोटी इमारतों को बनाने वाले बिल्डर अधिक) अक्सर अपने निर्माण-स्थल पर निर्माणाधीन इमारत से जुड़ी जानकारी वाला बोर्ड या तो लगाते ही नहीं हैं या फिर कहीं ऐसी जगह पर लगाते हैं जिसे आसानी से देखा न जा सके। इसलिए ग्राहकों को फ्लैट खरीदने से पहले महानगरपालिका, नगरपालिका, नगर परिषद, सिडको या फिर ग्राम-पंचायत कार्यालय में जाकर बिल्डिंग के प्लॉन की मंजूरी होने या न होने की जानकारी ले लेनी चाहिए।

6)जमीन का सौदा हो सच्चा

अधिकांश बिल्डर जमीन के अधूरे सौदे के दौरान ही बुकिंग शुरू करते हुए बिल्डिंग बनाना शुरू कर देते हैं। उनकी कोशिश होती है कि उनकी जेब के रुपये कम से कम खर्च हों। ऐसे में अगर कोई भी विवाद बढ़ गया तो निर्माणाधीन बिल्डिंग का काम रूक जाता है। ऐसे में ऐसी अधूरी इमारतों का काम या तो तय समय से काफी वक्त देर तक लटका रहता है या फिर हमेशा के लिए बंद हो जाता है। इसलिए ग्राहकों को चाहिए कि अपना फ्लैट खरीदते समय वे सबसे पहली जांच उस जमीन के स्टेट्स के बारे में पता कर लें। यह जांच मनपा/नपा/नगर परिषद के स्थानीय विभाग कार्यालय या स्थानीय तहसील कार्यालय में जाकर की जा सकती है।

7)कुछ अन्य ध्यान देने वाली बातें

कुछ अन्य बातें भी हैं जिन पर फ्लैट खरीदने वाले ग्राहक को ध्यान देना चाहिए। ग्राहक को चाहिए कि जब वे अप्रूवड प्लान देख रहे हों तब इन बातों की भी पुष्टि जरूर कर लें जिसमें अनिवार्य सोलर पैनल, अनिवार्य रेन वॉटर हार्वेस्टिंग सिस्टम (50 हजार वर्गफुट से अधिक वाले प्रॉजेक्ट पर लागू), 7 मंजिली से अधिक ऊंची इमारत में अनिवार्य रूप से 2 लिफ्ट और 12 मंजिल से अधिक ऊंची इमारत में 3 लिफ्ट का होना, 7 मंजिल से अधिक ऊंची इमारतों में फायर-फाइटिंग सिस्टम का होना, 12 मंजिल तक एक और 12 मंजिल से अधिक ऊंची इमारतों में 2 रिफ्यूज एरिया का होना, हर फ्लैट मालिक के लिए पार्किंग की अनिवार्य जगह होना, ऊंची इमारतों में आकाशीय बिजली गिरने पर रूफ-टॉप पर अर्थिंग केबल का लगा होना जैसे काम शामिल हैं।

can refuse flat if not built in time and get money back: NCC.
bench presided over by Justice V K Jain said a flat-buyer agreement would bind the parties only when a buyer was willing to take over the possession of his property despite the delay.
banks from which the loans were taken, the banks had lien over the refund amount, in the event of cancellation or termination of the agreement.
The Commission, however, said the complainants were “entirely justified” in seeking refund since Parsvnath had failed in completing the projects either within the agreed time of 36 months or even within a reasonable time thereafter.

Real Estate Regulatory Bill approaching the final stretch.

cabinet has approved the Real Estate Regulatory Bill following a new set of recommendations. These changes will provide increase Indian real estate’s transparency levels.
Ministry has made new recommendations to the Real Estate Regulatory Bill (RERB), which were then sent over to the Prime Minister’s Office (PMO) for approval. The recommendations have been approved by the cabinet and the next steps would be to preset the Bill in Parliament where, if passed, it will become an Act.
Essentially, the minimum limit that a developer had to keep in an escrow account for the purposes of developing a specific project has been brought down from 70% to 50% and it must be noted that this amount needs to be deposited in the escrow account within a period of 15 days.

This provisions works out well for everybody because while it enables the developers to channelize funds collected for a specific project into land acquisition or for the development of other projects, the 50% mandate will ensure that the project for which monies have been collected, does not languish by the wayside.

The recommendations to RERB also provide for the inclusion of commercial real estate within its ambit. Brokers and agents will also be under the Bill’s umbrella and it is now mandatory for all under-construction projects to register themselves. In news that is definitely going to gladden the hearts of home buyers, no developer can make changes to the original plan or structural design of a project unless 2/3rds of the buyers in that particular project agree to such change.

Transparency in the real estate sector has been placed at a premium and the failure of a developer to register a project will make him liable for a penalty equivalent to 10% of the overall project cost and a continued case of non-compliance will attract an additional 10% penalty. A three-year prison term can also be looked at for continued offenders.

Probably one of the biggest issues against the Bill that had been moved earlier was that it prohibited redressal of consumer grievances by any other court or forum except for the real estate regulator. This provision had been brought in to avoid multiplicity of lawsuits but it has now been done away with in the new set of recommendations.

The ambit of the Bill has been increased to cover all projects that have not received their completion certificates, which is another bit of good news for home buyers.