Aakar Realty Enterprises '_____ Realty Mediators

A Cosmos Realty Corporation - Mumbai, India: ROHA--- A INVESTORS NEW DESTINATION : "This Property is located near 8kms form Roha City & 14kms Roha Railway station which is in the Raigad district. The location features th..."

Private investments in India’s infrastructure projects crossed $25-billion mark in the first three quarters of 2009, as conducive government policies and liquidity in capital market opened the floodgates of corporate funds into the booming energy and transport sectors. An improved show by infrastructure industries helped India lead its South Asian neighbours in terms of economic performance, said a World Bank report. South Asian region is poised to grow by about 7% in 2010 and nearly 8% in 2011. “The average size of new (private infrastructure) projects tripled from $211 million in 2006 to $638 million in 2009,” World Bank’s advance report on the South Asia Economic Update 2010 said. In 2009, the top four initial mandated lead arrangers for project loans in the Asia-Pacific region were Indian banks. India’s energy and transport sectors attracted 40% of total investment commitments worth a record $26 billion. Investment commitments to new infrastructure projects with private participa...

The State Government has sanctioned several Development Plans in Maharashtra so far under the under the provisions of the Maharashtra Regional & Town Planning Act 1966. This time Government of Maharashtra has declared the housing policy is to facilitate affordable housing and create adequate housing stock for Lower Income Group (LIG) and Economically Weaker Section (EWS) on ownership or rental basis both. According to reports Government of Maharashtra this time not only have good news for common people but private land owners and MHADA too, as Govt. have opinion that “such housing stock can also be created on private land by incentivizing the owners with an additional FSI in Joint Venture with MHADA.” In accordance with the provision contained in section 37(1AA) Government invited to private developers, land owners and MHADA for Development of Affordable Housing on the basis of following conditions. Total Permissible FSI shall be 2.5 on gross plot area including basic (normal) FSI...

The massive scheme for low-cost rental accommodation launched in the city by the Mumbai Metropolitan Region Development Authority (MMRDA) may be changed into affordable housing on ownership basis in part. MMRDA officials said that they have written to the government for permission to go ahead with affordable housing along with low-cost rental housing. “We are awaiting the state government’s nod,” they said. The rental housing scheme was launched over two years ago by the MMRDA with a view to provide low cost flats to the needy in the city. The target set was 5 lakh units in five years with rentals ranging from Rs 800 to Rs 1,400 a month for a 160 sq ft flat. MMRDA officials said that the concept of affordable housing would be slightly different and will mean sale of flats which are 400 sq ft instead of the usual 160 sq ft units in the rental scheme. They claim that it would allow them to cater to the poorer section of the society and make the whole scheme more viable. Housing industry...

In order to check corruption, the Maharashtra Housing and Area Development Authority (Mhada) has decided to make it mandatory for cooperative housing societies to procure a noobjection certificate (NOC) from the deputy registrar of the cooperative department for redevelopment projects. A senior official said, “Unless, the NOC is received, we will not process any file pertaining to redevelopment projects. The decision has been prompted because of allegations and counter-allegations made by those involved in redevelopment projects. This will ensure that the names of Mhada officials are not sullied because of internal disputes within the housing society.’’ There are around 56 Mhada colonies in Mumbai and more than 2,500 buildings are being redeveloped because they are dilapidated. Redevelopment of these buildings has resulted in a windfall for the housing body, developers as well as residents because the government has sanctioned an FSI of 2.5 for Mhada colonies. A Mhada official said, ...

New team to work for improved coordination with Central & State Governments§ Calls for transparency in Govt. clearances§ Foot print to cover tier II and III cities and towns MUMBAI, March 15, 2011: With transparency high on agenda, CREDAI (Confederation of Real Estate Developers’ Associations of India) has embarked on a mission to ensure that the industry gets a fair image. Mr Lalitkumar Jain, the newly elected national president of CREDAI, today said: “We want to ensure total transparency at developer and the government levels.” He explained that real estate is being blamed as one of the major industries in the country that is faced with the issues of transparency. “Sad though, the developer community is at the receiving end. In fact, we are the oppressed ones and victims of red-tapism in many cases. The various approvals, from land purchase to building plans, take anywhere between two to three years.” “We need to obtain some 40 NOCs (No objection certificates) from different de...

Various steps have been taken in this year’s union budget to give a boost to housing sector finance. The existing scheme of interest subvention of 1% on housing loans has been liberalized by extending it to housing loan upto Rs. 15 lakh where the cost of the house does not exceed Rs. 25 lakh from the present limit of Rs. 10 lakh and Rs. 20 lakh respectively. On account of increase in prices of residential properties in urban areas, it has been proposed to enhance the existing housing loan limit from Rs. 20 lakh to Rs. 25 lakh for dwelling units under priority sector lending. To provide housing finance to targeted groups in rural areas at competitive rates, the budget proposes to enhance the provision under Rural Housing Funds to Rs. 3000 crore from the existing Rs.2000 crore. The Union Finance Minister Sh. Pranab Mukherjee while presenting this year’s budget has also proposed the creation of a Mortgage Risk Guarantee Fund under Rajiv Awas Yojana. This would guarantee housing loans tak...