Friday, 21 September 2012

Tax holiday for commercial vehicles on e-way over

The tax holiday is over for commercial vehicles plying between Delhi and Gurgaon. Making it clear that private vehicles travelling on the expressway can still enjoy free rides, the Punjab and Haryana High Court today directed the charging of toll tax from the commercial vehicles from 6 this evening.


The court also gave Delhi-Gurgaon Super Connectivity Limited (DGSCL), the toll plaza operator, two days to increase the number of toll lanes from 32 to 53.

As the case came up for hearing this morning, the Division Bench of Acting Chief Justice Jasbir Singh and Justice R K Jain also appointed Punjab and Haryana High Court’s former Chief Justice Mukul Mudgal as local commissioner to inspect the area and submit its report by Monday. Justice Mudgal will report to the High Court, if the concessionaire has implemented the decongestion plan submitted by it.

The Bench also directed DGSCL to implement the proposals submitted by it to decongest the expressway by Sunday.

The case will come up for further hearing on Tuesday.

The Delhi Municipal Corporation had earlier moved the High Court, seeking directions for imposing toll tax on commercial heavy vehicles. The corporation asserted that commercial vehicles were entering Delhi from the Gurgaon side to avoid toll tax. As a result, the rush had increased on the expressway and its effect could be felt right up to Dhaula Kuan in Delhi. It added that a dedicated lane could be earmarked for commercial vehicles for the purpose of collecting the toll tax.


Sunday, 16 September 2012

Property Updates : Gurgaon

Golf Course Extension Road is going to be the next destination for luxurious residential projects in Gurgaon. This developing stretch has carved a niche for itself in a very short period, as it is on a 30-minute drive from the Indira Gandhi International Airport and has easy accessibility to NH-8 and South Delhi through the Gurgaon-Faridabad Expressway. Relatively, Golf Course Extension Road is a new locality . During the slowdown, the number of transactions dropped considerably, but with improving infrastructure and a growing demand for premier lifestyle housing segments, the realty scenario on this stretch has now changed. Developers and prompters are now raising golfthemed apartments and luxury villas. Top realty players like DLF have already launched several premium projects like Aralias and Belaire on this road. While projects like these have done their bit in promoting the area, the area turned into an end users destination with the development of Road No. 9 from Sikandarpur to Golf Course Road. The extension of this road to connect to Sohna Road further opened up the area to development. Apart from DLF's projects, the other launches along this stretch are Ansal API's Esencia, M3M's Golf Estate, Pioneer Group's Pioneer Park, Emaar MGF's Emerald Hills, Tata's Raisina Residency and IREO's Grand Arch. Sectors like 55 and 56 along the Golf Course Extension Road already have a large number of cooperative group-housing societies, which have created a critical mass of population on this stretch. The new stock coming up here is 3- or 4BHK luxury apartments of 1,500-2 ,500 sq ft, quoting at a base rate of Rs 11,000 sq ft. Commercial projects like Global Business Foyer, Paras Twin Towers, Suncity Business Park, and Ninex Time Tower have already been handed over for possession. The availability of commercial space has increased by approximately 30%. In the retail segment on the Golf Course Extension Road, Emaar MGF has launched the Emerald Plaza mall. Unitech has launched two office space projects - Unitech Business Park and Silvertone. M3M is coming up with Golf Estate duplex apartment on 75 acres in Sector 66. Golf Estate has three parts: Fairway West, Fairway East and Fairway Polo Suites. Fairway West is expected to be completed in 2014, while the entire project, including Fairway East and M3M Polo Suites, are likely to be completed within the next three years. Fairway East and M3M Polo Suites offer 3BHK units of 3,655 sq ft, 4BHK units of 4,465 sq ft, 4BHK duplex of 5,465 sq ft and 5BHK Simplex of 5,600 sq ft at Rs 11,000 per sq ft. - Dharmendra Kumar

Tuesday, 11 September 2012

Michael Schumacher Tower Gurgaon

Dream HomeDream home where luxury has no limit....

Inspired by the concept of unique “Human Architecture”, planned by Michael Schumacher “The legend” himself and this project MSWCT (Michael Schumacher World Champion Tower) is been presented by Homestead (United Kingdom).

Some of the fantastic Specifications are as under:-

Project Name
Michael Schumacher World Champion Tower in Gurgaon, India
Project Land
5 Acres
Location
Sector-109 (Best Residential Sector in Gurgaon)
Total Flats
85 (One tower & rest open green area with hi-tech club and swimming pool)
High Rise Floors
34

Michael Schumacher himself will inaugurate the project launching on 16 September 2012 and the construction will be started on 16 October 2012

Completion of project will be done within 3 Years. There is a Helipad on the top floor of the Tower. In this whole world there are only 7 such towers. Club and swimming pool is free for the persons booking the flats during this launch. There is a swimming pool and gym in each flat of this project.

Persons holding flats in this project- Michael Schumacher himself own a flat in this project and will stay have whenever he will visit India .Some of popular Bollywood and Hollywood actors will own a few flats Great sports persons of this particular time will also be involved in the ownership of few flats.

Area 3750sq.ft Area 5500sq.ft
BHK 4 BHK 5
BSP 10500/- BSP 10500/-

Saturday, 8 September 2012

NDMC To Recover Property Tax


Facing a serious financial crunch, the North Delhi Municipal Corporation has decided to recover all the property tax dues. For this, the corporation has decided to publish the names of tax defaulters in newspapers. Officials say that defaulters will be given a month’s time to settle the dues after which the corporation will initiate legal action against them.

“We have been trying to avoid this for long, but now we are left with no option. We will take stringent action against the defaulters if they don’t pay up,” Yogender Chandolia, chairman, standing committee, North Corporation, said.

The corporation will publish the list of people who have dues more than Rs 5 lakh pending against them.
As per official records, there are 1,070 defaulters and the total amount to be recovered is Rs 120 crore. “This is a huge amount for our corporation. Our annual property tax collection target is Rs 350 crore. Post-trifurcation, our financial condition has deteriorated. We had to cut down on our expenses. We are now struggling to boost our revenue, but the options are limited,” said Chandolia.

The erstwhile MCD, too, had published the names and addresses of 4,816 defaulters last year. Councillors say that the embarrassment faced by people will help ensure faster payment. The amount due was Rs 637 crore. Officials say that a good sum was recovered by the corporation. “The previous exercise had yielded good results. We are hopeful that this time too we will be able to get a good response,” said Chandolia.


Wednesday, 5 September 2012

Property Updates : Delhi & NCR

Delhi’s skyline could resemble Manhattan’s or Shanghai’s if urban development minister Kamal Nath has his way. The minister has mooted verticalisation of Delhi in the new master plan for 2021 by allowing higher floor area ratio in the city, which is expected to increase housing stock considerably and rejuvenate some old commercial areas.
“Property prices in Delhi are too high today and the only way they can come down are by increasing supply,” says Anshuman Magazine, chairman and managing director (south Asia) at property advisory firm CB Richard Ellis.
Property rates in Delhi, especially in the south and central parts, today are comparable to those in cities like New York and London.

As the city has grown to a population of 17 million, these unsustainable prices and lack of vertical development have pushed home buyers towards new urban conglomerations around the city like Noida, Gurgoan, Ghaziabad,Faridabad and beyond. Today, the average property prices in Delhi are at least two to three times that in Gurgaon and Noida.
Delhi currently has an FAR of 1.2 (and 3.5 for plots under 100 sq metres) for residential and 1-1.5 for commercial compared to 13 in Shanghai and 15 in New York and Manhattan. Noida too has a higher FAR of 3, Gurgaon allows comparatively more at 1.75 and Hyderabad has allowed unlimited FAR if certain conditions like providing adequate parking are met.
The tallest building today in Delhi is the Municipal Corporation of Delhi’s Civic Centre with 28 floors. In comparison, Supertech is building an 80-storey building in Noida. In Manhattan, the famous Empire State Building, which was completed in 1931, has 102 floors. FAR is the ratio of the total floor area of a building to the plot area and the concept behind it is utilisation of land in the most optimal manner.
Today, many people travel to Delhi for work as the overall population density has been spread over a larger area. “Delhi has failed to give housing to the common man due to limitations on FAR and density norms. It also aided in the creation of slums. If FAR is freed, land cost for development will come down, bringing down property prices,” says Navin Raheja, president of the National Real Estate Development Council and a developer with projects in both Delhi and Gurgaon.
So far, what has stopped the Delhi government from allowing higher FAR is the possible strain on infrastructure, like roads, water, power, sewerage that will follow such densification, but that worry still remains.
The city’s infrastructure is creaking. Infrastructure like power, water and roads are already stretched to the hilt due to decades of poor planning. Many areas in Delhi still face frequent power cuts and shortage of water, both potable and otherwise. Massive traffic snarls are common in most parts of the city that face shortage of road space because of an increase in the population of motor vehicles.
Urban development experts warn that if norms are changed and taller buildings are allowed without making a concrete plan to improve infrastructure across the city, it could lead to a worse situation. “We need to get our infrastructure development plan in order before embarking on verticalisation. The government could charge for giving higher FAR and that money should be properly utilised to strengthen infrastructure,” says Gaurav Jain, a town planner and managing director of Samyak Properties & Infrastructure.
Internationally, most such decisions are taken after a thorough study of the infrastructure in a city, which includes the impact of increasing FAR on traffic, water and power availability and sewerage, says Magazine.
Architect Ashok Lall, who works in the field of sustainable urban development feels simply allowing tall buildings everywhere will lead to an unsustainable situation in the city. “Once you go beyond six floors, the energy required to take water, sewerage and people up and down goes up 20%,” he says. According to Lall, the optimal, energy-efficient FAR is around 1.2, which is currently allowed in the city.
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