weekly realty digital magazine · 4. luxury living homes to be more expensive. the union budget...

Gautam Gambhir’s choice Serabella

08 June 2013

All about circle rate?Ministry sources said 22 states had given their approval to the Bill while five states wanted certain amendments.

‘Yeh Jawaani Hai Deewani’ set to enter 100 crore club GURU

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Weekly Realty Digital Magazine

GYAN FUNNYJOKES & Many More

3Union Cabinet ap-proves Real Estate Regulatory Bill

Union Cabinet approves Real Estate Regulatory Bill

Cover Story

Read Inside

page no. 8

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Important Helpline Nos.11

News & Updates - Noida

6

Knowledge & Entertainment

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bollywood & Cricket updates

8

Cover Story 4-5

Guru Gyan

3

Edited by - Priyanka Jadon | [email protected] - Danish Suhail | [email protected] - Sunil Bidaliya | [email protected]

Our Team

Contents

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Guru Gyan

1. Additional Rs. 1 lakh Interest De-duction for first time home Buyers.

Individuals can take first time home loan of upto Rs 25 Lakh in 2013-14 will be allowed an addi-tional tax deduction of interest up to Rs. 1 Lakh.

2. 1 % TDS on sale/Purchase of Prop-erty above Rs. 50 Lakh.

The union budget 2013 purposes to levy 1% TDS on sale of immov-able properties of above Rs 50 Lakh, but exempts agriculture land.

3. Rs 2,000 Crore Fund for Urban housing development.

The Finance Minister P.Chidam-baram proposes to start a fund for urba housing to mitigate the huge shortage of houses in urban areas. He asks National Housing Bank to set up the fund in consultation RBI, proposes to provide Rs. 2,000 crore for it.

4. Luxury Living Homes to be More expensive.

The Union Budget 2013 makes luxury homes costlier by cutting abatement on service tax on a flatwith a floor area iver 2.000 sq.ft OR prices exceeding 1 cr. Rate of abatement reduces from 75% to 70%.

5. Unmet Expectation & Demands.

The long standing demands such as Infrastructure status, Regulatory Bill, One window clearance etc to the Real Estate sector has not been acceded to. Expectations are not met from this Budget 2013.

Budget 2013-14 HighlightsAll about circle rate?


Cover Story

Union Cabinet approves Real Estate Regulatory Bill

A Bill providing for setting up a reg-ulator for the real estate sector and having provisions like a jail term of up to three years for developers who make offences like putting up misleading advertisements about projects repeatedly was approved by the government Tuesday.

The Real Estate (Regulation and Development) Bill, approved by the cabinet, seeks to provide a uniform regulatory environment to the sec-tor. It also intends to make it man-datory for developers to launch projects only after acquiring all statutory clearances from relevant authorities. Builders and develop-ers who become repeat offenders may even face a jail term of up to three years.

The Bill makes it mandatory for builders to clarify the carpet area of the flat. This would be made uniform for the entire country. This rule would make the concept of super area - which is often used to mislead owners - virtually non-exis-tent. The Bill has provisions under which all relevant clearances for real estate projects would have to be submitted to the regulator and also displayed on a website before starting the construction, sources said.

The proposed legislation has tough provisions to deter builders from putting out misleading advertise-ments related to the projects carry-ing photographs of the actual site. Failure to do so for the first time would attract penalty which may be up to 10 percent of the project cost and a repeat offence could land the developer in jail. The Min-istry of Housing and Urban Poverty Alleviation is working on bringing all projects under a single-win-

dow clearance. While the Airports Authority of India and municipal bodies have come on board, there are some objections from the Envi-ronment Ministry which are being looked into.

Ministry sources said 22 states had given their approval to the Bill while five states wanted cer-tain amendments. These chang-es have been incorporated in the Bill cleared by the Cabinet today, sources said. Chhattisgarh is the sole state to still oppose the Bill. Builders and developers will have to get all clearances - from ti-tle deed to project cost - cleared before construction begins. FAR (Floor Area Ratio) will also have to be specified clearly by the builder.

While the Regulator in the states will be appointed by the state gov-ernments, in Delhi the Urban De-velopment Ministry will appoint the regulator. DDA is likely to be made the regulator in Delhi, sourc-es said. The Regulator will also be the appellate authority in cases of dispute. This will save the owners the hassle of running around to different authorities for redressal.

The developers will also have to specify the common area in the society. The term “apartment” has been specified in the Bill and will include the space to be provided for a garage

Key provisions of the Bill

1. Establishment of a Real Estate Regulatory Authority - Government has proposed to appoint a chair-person with two other members supporting him. The people who get appointed as part of the regu-latory authority should have suffi-cient professional knowledge and experience in the field of public ad-ministration, urban development, finance, law or management.

2. Transparency and Powers of the Regulatory Authority - This author-ity is also going to maintain a web-site which will have the records of all real estate projects with all oth-er details as provided in the appli-cation at the time of registration.

3. Registration with the Regulato-ry Authority - The builder is going to file all the details of his proj-ect with the regulatory authority and provide all necessary details of property dealers or middlemen


Cover Story

dealing in the project.

4. Establishment of Appellate Tri-bunal - The bill will also provide for the establishment of a real es-tate appellate tribunal, which will decide upon any dispute and will hear appeals against any decision of the regulatory authority.

5. Obligations of a Promoter - This model bill has also outlined the role of the property developer and their duties towards the regulato-ry authority and also the property buyers. The developer is obligat-ed to provide all documents and information for inspection to the prospective buyers. The builder en-

ters into a written agreement with the buyer before taking any ad-vance money. After the execution of the agreement, the builder will not be entitled to create a mort-gage charge on the plot, building or apartment, without the prior written consent of the buyer.

6. Offences and Penalties - In order to make the proposed act effective, the Government will also penalize those who will not comply with its clauses. The penalties range from up to three years imprisonment for not registering a project or for not complying with the orders of the Appellate Tribunal to monetary penalties which may be ascertained

on a daily basis for non compliance or as a percentage of the develop-ment costs or sale price.

The Model Real Estate Bill seeks to bring clarity and consistency in the fast growing Indian real estate sector. The proposed Act will lead to better information sharing and decision making, between build-ers and the consumers. Further, by seeking to establish the Regulatory Authority and Appellate Tribunal, the Model Act provides for a forum where disputes could be heard by a specialized expert body, which would result in speedy dispensa-tion of justice.


News & Updates - Noida

Akhilesh Yadav keeps ‘safe’ distance from NoidaNOIDA: Thirty-nine-year-old Akhilesh Yadav might be projected as a tech-savvy, new-age politician who dis-tributes free laptops, but he seems to have superstitious beliefs, much like his father, Mulayam Singh Yadav. In keeping with the promise made during the assembly elections last year, Akhilesh distributed 8,000 free lap-tops on Monday.

Though nearly 2,500 students were from Noida and Greater Noida, his choice of Ghaziabad over Noida, barely 20km away, as the venue has fuelled speculation about the jinx keeping him away from the city.

In April too the CM had inaugurated infrastructure proj-ects in excess of Rs 3,700 crore in Gautam Budh Nagar from Lucknow, bypassing Noida.

Despite the SP’s attempt at an image makeover after being voted to power, pundits say Akhilesh can, at best, be viewed as a chip off the old block if he continues to keep Noida at a safe distance, purely for superstitious reasons. Dynamic, young and characteristically candid is how the UP chief minister is often described. He is the one who scripted the SP’s spectacular victory in the assembly elections and gave the party a modern face. He has been instrumental in shedding the party’s image as anti-English and opposed to technology. If he allows himself to be held back by the old forces, the effect could be damaging.

But then, Akhilesh is not the only CM to fall prey to the Noida jinx. The “visit Noida and lose power” superstition has haunted politicians for the past 20 years, with nei-ther Noida nor Greater Noida figuring in many of his pre-decessors’ itinerary. The Delhi-Noida flyway, thrown open in 2001 by CM Rajnath Singh, was inaugurated from the Delhi side and not from Noida. In 2002, Mayawati laid foundation stones for two Noida-based projects, the Gautam Budh University and the Noida-Greater Noida Expressway from Lucknow. Akhilesh Yadav follow suit. After coming to power, he chose to inaugurate Yamuna Expressway through remote control from Lucknow.

The jinx attached to Noida goes back several years. The belief, a figment of popular imagination, started doing the rounds in the 80s. The first CM to lose his post was N D Tiwari in 1989, who was voted out of power report-edly after his visit to the industrial township. According to the superstition, Mayawati lost the elections in 1997 after visiting Noida; the jinx also claimed the chair of Kalyan Singh in 1999. In 1995, when Mulayam was the CM, he had lost the elections held immediately after his visit to Noida.

The jinx is supposed to have worked once again on Mayawati, who had braved the odds in 2011 and visited Noida to flag off India’s first Formula One Grand Prix at the Buddha circuit. A few months later, she went there once again to inaugurate the Dalit Prerna Sthal. She was lost the assembly elections in February 2012.


Knowledge & Entertainment

IT IS THE LITTLE THINGS THAT MAKE A BIG DIFFERENCE

There was a man taking a morning walk at or the beach. He saw that along with the morning tide came hundreds of starfish and when the tide receded, they were left behind and with the morning sun rays, they would die. The tide was fresh and the starfish were alive. The man took a few steps, picked one and threw it into the water. He did that repeatedly. Right behind him there was another person who couldn’t understand what this man was doing. He caught up with him and asked, “What are you doing? There are hundreds of starfish. How many can you help? What difference does it make?” This man did not reply, took two more steps, picked up another one, threw it into the water, and said, “It makes a difference to this one.”


Excavation begins at Site-AquacasaRudra Projects


woolywood & Cricket update

Champions Trophy: India beat South Africa by 26 runsIndia. Foreign tour. Good start. You’ve rarely had the chance to use the three together since India’s ODI World Cup triumph in 2011. The horror of the Natwest Series in England and the CB series in Australia, seem distant memories now. After back-to-back wins in the warm-ups, India opened the

Champions Trophy with a convincing 26-run win over South Africa here on Thursday.

Rohit Sharma and Shikhar Dhawan provided the team something it had been missing in that barren run — solidity at the top. The duo’s 127-run opening partnership was just what the doctor ordered.

A South Africa attack minus Dale Steyn and with an injured Morne Morkel re-duced to 6.5 overs didn’t look threatening, barring the odd bouncer which thud-ded into the batsman’s helmet. The fact that part-time off-spinner JP Duminy, who picked up 1/41 off his 10 overs, was the best of their bowlers doesn’t bode well for the Proteas and underlines the importance of Dale Steyn.

A fact quantified by the South African selectors’ policy to use Vernon Philander primarily for Test matches.

If Sharma and Dhawan laid the platform it was utility all-rounder Ravindra Jadeja who added the finishing touches. The southpaw’s 29-ball 47 pushed India to 331/7. Before the match, television pundits had hinted at a piece of trivia, that in the final analysis, proved to be just that. Trivial!

‘Yeh Jawaani Hai Deewani’ set to enter 100 crore clubDirector Ayan Mukherji is definitely reaping the success of his recently released ‘Yeh Jawaani Hai Deewani’ starring the ex-couple Ranbir Kapoor and Deepika Padukone.Released only four days ago the romantic comedy has recorded a profit of Rs 75 crore which has also beaten the superhit ‘Dabangg 2’. Sources claim that the profit may rise upto 100 crore in the first week itself which grants the film entry into the elite 100 crore club, a recent fad for bolly-wood.The film has been produced by Dharma productions and also stars Kalki Koechlin and Kunaal Roy Kapur. The film boasts of starlet Madhuri dixit in an special appearance song “Ghagra” which is definitely a crowd puller especially for all the movie buffs.The film has recorded phenomenal success with a unanimous response from the public. The public has welcomed the pairing of Deepika and Ranbir yet again which has worked in the films favor. The film has made a profit of over 20 crores in the international circuit itself.Ayan Mukherji’s debut film also with Ranbir Kapoor was Wakeup Sid which was a major hit among the youth and the same seems to be followed in ‘Yeh Jawaani Hai Deewani’.Another USP of the movie are the foot tapping numbers such as ‘Badtameez Dil’, ‘Diliwali Girlfriend’ etc.Taran Adarsh, trade analyst and film critic seemed boggled with the film’s success while tweeting “rewriting the rules of the game”.

Shikhar Dhawan reacts as he reaches 100 runs not out as he plays against South Africa during their group stage ICC Champions Trophy cricket match in Cardiff, Wales. AP photo/Alastair Grant


Important Helpline Nos.Police Control Room 2525100 ,, 2351324 ,, 2350100In case of Accident 2528058 ,, 2521073SO Sec- 20 2523102 ,, 4349042SO Sec- 24 2411173 ,, 4349045SO Sec-39 2577100SO Sec-49 2573665 ,, 4349046SO Sec-58 2580412 ,, 3223308SO Phase 2 2568600Fire Service Fire Station Harola 2521111Fire Station Sec-58 2562901Fire Station Phase 2 2562999Fire station Greater Noida 2569109Power Control Room 2441614 ,, 2444100 Telephone GM 2441100BSNL Help Desk 2051005BSNL Customer Care Service 2441500 ,, 2440198Hospitals Asha The Child Care 2584931Apollo Hospital 2445353 ,, 4012000Bhardwaj Hospital 2450222 ,, 2450333City Hospital 2522303 ,, 2522784Diabetic Clinic 2547235Dermatology Service 2529503 ,, 2529785Dhama Clinic 2508254 ,, 2506167District Hospital (Emergency) 2456174Dr Chauhans Ortho & Nursing Home 2520599 ,, 2544333

Dr Lal Path Lab 2539510 ,, 2539512ESI Hospital 2411350 ,, 2411352ESI Despensary Sec-12 2553720ESI Despensary Sec-24 2411350 ,, 2411352Fortis Hospital 2400222 ,, 2400444Goodwill Hospital 2500611 ,, 2500711Indo Gulf Diagnostics 2519505 ,, 2519506Kailash Hospital & Heart Institute 2444444 ,, 2445566Max Hospital 2549999Metro Heart Institute 2533491 ,, 2519489Metro Multyspeciality Hospital 2522056 ,, 2522959Noida Medicare Centre 2453809 ,, 2453801 ,, 2453808Noida Psychiatric Clinic 2587215Prakash Hospital 2504050 ,, 2505555Prayag Hospital 2575555 ,, 2570209Samvedana Hospital 2506611 ,, 2506622Sperm Solutions 5319451Sumitra Hospital 2507625 ,, 2507725 ,, 2556455Vinayak Hospital 2444222 ,, 2444333 Medical Stores 24*7 All Days Chemist (Bharadwaj Hospital) 4310338Ganesh Medicose, Sec-18 2511744Kaushal Medicose, Sec-34 2590235Neelkanth Chemist, Sec-27 4357583NeelKath Drugs Pvt Ltd (Vinayak Hospital)

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Sources : Hindutan Times, Navbhart times, Times of India, Mail Today

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