--Nov Oct--2019 · The Nashik Municipal Corporation (NMC), in a bid to promote composting of wet...

10-Oct-2019 20-Nov-2019

CREDAI Bengal Daily News Update | 20.11.19

WEST BENGAL NEWS

Kolkata civic body to amend building rules to curb pollution from

debris

A number of measures have also been made compulsory to deal with bulk generation of

waste following demolition of a big building or a huge concrete structure.

The Kolkata Municipal Corporation (KMC) is set to amend its building rules to make it

mandatory for everyone to take adequate precautionary measures before demolishing a building

to stop air pollution.

A number of measures have also been made compulsory to deal with bulk generation of waste

following demolition of a big building or a huge concrete structure.

Those razing a particular structure have to ensure that demolition debris don‘t get mixed with

other solid waste. Additionally, they must make sure the debris are kept on the premises.

Littering or deposition of demolition waste has been prohibited as this might not only contribute

to the growing air pollution but also create hurdles in traffic movement.

Disposal of demolition waste, like concrete, steel, bricks, mortar and plastic, will be segregated

and the applicant will also need to give an undertaking that all stipulated measures will be

followed to control air pollution at the site. The applicant will also have to bear the expense of

transportation if the civic solid waste manage department is approached to take such debris

away.

Newspaper/Online ET Realty (online)

Date November 19, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/kolkata-civic-body-to-amend-building-rules-to-curb-pollution-from-debris/72123672

According to a buildings department official, an implementation committee for the national

clean air programme had, in July, suggested incorporating certain restrictions in the KMC

buildings rules in case of demolition of a structure with a view to protecting the air in the city.

Accordingly, the KMC top brass decided to amend the rules — rule 20 — that will

accommodate the norms of construction and demolition waste management. When building rule

20 gets amended, it will put some restrictions on demolition of a building or concrete structure.

According to the new set of KMC building rules, those applying for bulk waste generation will

need to submit a waste management plan to the buildings and solid waste management

departments. If the estimated waste generation is more than 20 tonnes a day or 300 tonnes in a

month, prior approval must be sought from the municipal commissioner. The buildings

department will seek an undertaking from an architect or the Licenced Building Surveyor that

certain measures would be taken in case a lot of building wastes are generated after demolition.

Earlier, anyone applying for demolition of a building would just intimate the date of demolition.

There was no restriction on grounds of pollution.

________________________________________________________________________________________________

OTHER NEWS

Nashik civic body to give 5% concession in property tax for

building composting wet waste

Concession in property tax will be implemented after an approval from the civic body’s

general body meeting.

The Nashik Municipal Corporation (NMC), in a bid to promote composting of wet waste, is

planning to introduce 5% concession in property tax for all buildings that carry out this process

on their premises.

Concession in property tax will be implemented after an approval from the civic body‘s general

body meeting. Municipal commissioner Radhakrishna Game said such tax concession would be

introduced shortly to encourage citizens for composting wet waste.

―The NMC collects 550 tonne of wast from across the city through 225 garbage vans. This

include both dry and wet waste. It costs around Rs 2,000 per tonne to collect the filth from the

city. Hence, we are planning to introduce concession in property tax for those buildings that

resort to composting wet or green waste,‖ he said.

According to Game, the objective is to encourage people to start composting wet waste on their

premises of their buildings, apartments or societies.

The move is aimed at reducing the waste that the civic body collects from households on a daily

basis and that will in turn save money spent on the collection of waste.

The NMC is already giving 5% concession in property tax to citizens who are using solar

power. Another NMC official said they are also creating awareness among people about

composting of green waste in view of the Swachh Survekshan programme 2020 — launched by

the Ministry of Housing and Urban Affairs (MoHUA).

―We are organising clean establishment competitions for buildings, school, colleges and

government offices. Those resorting to composting of wet waste will definitely get more

marks,‖ the official said.

This is the fifth edition of the annual cleanliness survey that is to be held in January 2020 and

the NMC has already started preparations in this connection.

Nashik did not fare well in the last survey (2019) as its ranking dropped from 63 in 2018 to 67



Link https://realty.economictimes.indiatimes.com/news/regulatory/nashik-civic-body-to-give-5-concession-in-property-tax-for-building-composting-wet-waste/72123395

among 425 cities. ―We have identified the areas where we did not perform well during the last

survey and that led to drop in ranking of cleaning cities. Citizens feedback and documentation

of activities were the major areas where we did not do well last year,‖ the NMC official said.

―Hence, we want to increase participation of citizens in view of the Swachh Survekshan so that

the ranking of the city improves this time,‖ he added.

________________________________________________________________________________________________

Aadhaar-property linking not an easy road: Experts

The Supreme Court in September last year had upheld the Constitutional validity of

Aadhaar, making it a legal proof of identity and address for over 1.2 billion holders.

Mandatory Aadhaar-property linking can become a reality only after necessary changes are

introduced in the Aadhaar Act without conflicting the Supreme Court ruling on the subject,

experts stressed.

There have been reports that the Centre is in final stages of bringing in a law to make Aadhaar-

property linking mandatory to weed out ‗benami‘ (proxy) transactions and increase

transparency, among others. ―For this to happen, Aadhaar Act needs to be revisited and the

SC‘s consent will also be required,‖ an expert said.

The Supreme Court in September last year had upheld the Constitutional validity of Aadhaar,

making it a legal proof of identity and address for over 1.2 billion holders. However, the apex

court had scrapped certain key provisions of the Aadhaar (Targeted Delivery of Financial and

Other Subsidies, Benefits and Services) Act, 2016, to protect privacy and data breach.

As per the SC ruling, private entities, such as telecom operators, banks, educational institutes

and other players, were barred from seeking mandatory Aadhaar details of individuals for

providing various services. ―While Aadhaar would remain crucial for carrying out property

transactions, one has to wait and watch as to how it can be possible to make it mandatory,‘‗ a

property developer said.

Many states have already introduced Aadhaar-verified property registration after making due

changes in the Registration Act rules. In case of Maharashtra, Aadhaar-linked registration was

brought in to avoid the need of witnesses at the time of registration.

―Homebuyers can use their Aadhaar card for property registration without producing two

witnesses to carry out the transaction. Those who appear at the sub-registrar‘s office without the

Aadhaar card would, however, have to come with the two witnesses,‖ a revenue department

official said while citing the amended rules of the Registration Act.

The official, however, reiterated that Aadhaar was not mandatory for property registration yet in

the state. ―Land is a state subject and a central law or a high court judgment cannot be binding

on other states. For a change like this, the Supreme Court judgment on Aadhaar would have to

be revisited,‖ another revenue department official said.

Credai vice-president Shantilal Kataria said if Aadhaar-property linking was made mandatory, it

would usher in transparency and ease of doing business, among others. ―It will also help in



Link https://realty.economictimes.indiatimes.com/news/industry/aadhaar-property-linking-not-an-easy-road-experts/72135032

detecting immovable properties of individuals, if this change is brought in,‖ Kataria added.

Developers said the move would also encourage serious investors to look at sizable and long-

term investments in the residential sector, thus, giving it a push in terms of supply.

________________________________________________________________

Tax department wants realtors to reverse transition credit

Many real estate developers had claimed transition credit on under-construction

apartments and claimed these are stock or inventory for them but the tax department has

sent notices and disallowed these claims.

Real estate players that had set off taxes paid under earlier tax regime against their Goods and

Services Tax (GST) liabilities have started receiving tax demands from the indirect tax

department. The tax department wants real estate developers to reverse the credit claimed as

transition credit, said people in the know.

Many real estate developers had claimed transition credit on under-construction apartments and

claimed these are stock or inventory for them but the tax department has sent notices and

disallowed these claims. The tax liability for some of the top players runs to hundreds of crores,

said the people mentioned above.

Real estate developers had paid sales tax and other indirect taxes on raw materials such as

cement and steel bought before GST was rolled out on July 2017. Many realty players hoped

they would pass these taxes to the customers when they sell the apartments, and claimed this

under the transition credit mechanism.

―Many real estate developers had paid tax under the erstwhile tax regime on materials and

claimed as transition credit under GST. The tax authorities are denying such credit on the basis

that material is already used in the unsold apartments. However, once GST is payable on such

unsold inventory then credit should also be allowed,‖ said Rohit Jain, partner, ELP.

Industry trackers said many real estate players are also facing scrutiny over input tax credit.

Input tax credit refers to a mechanism under the GST framework wherein the tax a company

pays when it buys raw materials or other services can be passed on to the buyer when the goods

or services are sold.

This is not for the first time that real estate players have been at the crosshairs of the tax

department. Some companies had dragged the government and the indirect tax department to



Link https://realty.economictimes.indiatimes.com/news/industry/tax-department-wants-realtors-to-reverse-transition-credit/72135069

court over GST levied on these deals in what could jeopardise long term land lease deals.

ET had on September 17 reported that realty players had filed a writ petition in the Rajasthan

High Court over the matter. As per the current regulations, 18% GST is levied on any long-term

lease transactions, and industry trackers said the GST paid becomes pure cost as it cannot be

used as input tax credit in case the recipient wishes to construct any commercial building there.

The companies had claimed credit on input costs such as steel, cement and sand used for

underconstruction buildings to offset future GST liabilities. The indirect tax department claims

that some developers also claimed credit in cases where buildings were already completed when

GST was rolled out on July 1, 2017.

Industry experts said the rules for availing tax credits are very transparent. Eligibility of input

tax credits for real estate developers depends on whether the apartments are sold before receipt

of occupation certificate and the proportion of activities completed in a project before and after

July 1, 2017, when GST was rolled out.

________________________________________________________________________________________________

Mohali: Purab Apartments to be utilised as residential colony for

government officers

The committee will formulate the policy for allotment of vacant flats to bonafied officers

as per their seniority.

The Punjab government has fomed a seven-member committee and tasked it with the utilisation

of Purab Premium Apartments in Sector 88, Mohali as a residential colony for IAS and IPS

officers.

The committee will formulate the policy for allotment of vacant flats to bonafied officers as per

their seniority.

The committee, constituted by the Punjab chief secretary, comprises principal secretary finance,

principal secretary housing and urban development, principal secretary general administration

department, finance commissioner (revenue), secretary water supply and sanitation,

secretary PWD and Mohali deputy commissioner (DC).

Mohali DC Girish Dayalan said, ―In the first phase, 300-odd flats may be utilised and later as

per requirement, more flats will be added to the housing scheme.‖

Dayalan said the move would boost the failing project, as increased occupancy of half of the

flats will ensure that there is no longer a desolate look and feel to the complex. Commercial

activity may also increase with the opening of empty shops. This would also raise the demand

for the other unsold flats, he opined.

Moreover, if the flats are allotted to senior government officers, it would accord a sense of

prestige and repute to the project, as opposed to the incidents of disorderly conduct, affrays

reported here in the past, the DC said.

―Besides this, Greater Mohali Area Development Authority (GMADA) would also generate

revenue through the allotment of vacant flats to government officers posted at Mohali.‖

In 2017, GMADA had constructed 1,620 premium apartments — Type-I, Type-II and Type -III

— in Sector 88. Out of the 1,620 houses, 980 houses have already been allotted. The project has

27 towers of 60 flats each, a community centre and a sports complex with indoor and outdoor

sports facilities.

There are around 700 vacant flats at Purab Premium Apartments which have fallen prey to

disrepair due to non-occupation. Further, there have been many incidents of violence and brawls

at the complex in the recent past.



Link https://realty.economictimes.indiatimes.com/news/residential/mohali-purab-apartments-to-be-utilised-as-residential-colony-for-government-officers/72118427

________________________________________________________________________________________________

New Delhi ninth fastest growing global prime residential market;

Bengaluru, Mumbai in top 30: Report

While New Delhi and Mumbai have moved up by one and two places, respectively, from

10th and 30th ranks in the previous quarter, Bengaluru has slipped five places to 20th

rank in September quarter.

New Delhi has emerged as the 9th fastest growing prime residential market in the world, with

average luxury home prices in areas such as Greater Kailash, Vasant Vihar, Anand Niketan,

Defence Colony and Green Park rising 4.4% on-year in the quarter ended September, showed

Knight Frank Prime Global Cities Index.

Among other key markets, Bengaluru and Mumbai ranked ranked 20th and 28th on the list with

prices moving up 2.1% and 0.8%, respectively.

While New Delhi and Mumbai have moved up by one and two places, respectively, from 10th

and 30th ranks in the previous quarter, Bengaluru has slipped five places from 15th rank to 20th

rank in September quarter.

New Delhi saw a 4.4% rise in weighted average capital value of prime residential properties to

Rs 33,511 per sq ft, while Bengaluru, comprising areas such as Richmond Town, Frazer Town

and Langford Town recorded a 2.1% rise in capital value to about Rs 19,709 per sq ft, the index

showed.

Mumbai, comprising areas such as Cuffe Parade, Napeansea Road, Colaba, Lower Parel, Worli,

Tardeo, Juhu, Bandra Kurla Complex (BKC), Santacruz (W), Bandra (W), Khar (W) and

Prabhadevi, registered a 0.8% increase in average capital value to Rs 64,775 per sq. ft.

―While Delhi and Mumbai have moved up in their rankings, luxury home prices have remained

stable in both the cities in the past three months. Delhi‘s prime residential market, which is

characterised by its tight supply, had witnessed a growth of 4.4% in March 2019 quarter,

leading to this performance in the Prime Global City Index,‖said Shishir Baijal, Chairman &

Managing Director, Knight Frank India.

Moscow leads the index this quarter with prime home prices rising by 11.1% over the 12

months to September 2019, followed by Frankfurt 10.3% and Taipei 8.9%. Seoul was the

weakest-performing global city in the year to September, with luxury home prices falling by

12.9%.

A prime residential property is defined as the most desirable and most expensive property in a



Link https://realty.economictimes.indiatimes.com/news/residential/new-delhi-ninth-fastest-growing-global-prime-residential-market-bengaluru-mumbai-in-top-30-report/72129856

given location, generally defined as the top 5% of each market by value. The Prime Global

Cities Index is a valuation-based index tracking the movement in prime residential prices in

local currency across 45 cities worldwide.

_______________________________________________________________________________________________

Kozhikode civic body stops accepting new building plans to

upgrade software

The decision pertaining to it was taken following modifications in the Kerala State

Building Rules.

Corporation authorities have stopped accepting new applications of building plan approval

submitted online, till it completes online software upgradation incorporating the recently

updated Kerala Municipality Building Rules (KMBR) 2019.

The decision pertaining to it was taken following modifications in the Kerala State Building

Rules. Bangalore based e-Governments Foundation, that designed the software for the city

corporation for the web based online building plan approval system, has commenced the

upgradation of Suvega software incorporating Kerala municipality Building Rules 2019. The

representatives of the company are expected to complete the software upgradation within a

month.

The upgradation of plan approvals of commercial buildings is expected to be made in the

second phase. They had designed this software with the financial aid from the Malabar chamber

of commerce last year.

According to the corporation officials, they have decided to clear all pending files of more than

500 building permission applications received till November 7 midnight. The pending files will

be cleared using old KMBR once the state government issues order pertaining to it. The civic

body had launched the scheme in 2018, May to help the public avoid visiting corporation office

multiple times to obtain building plan approval.

The corporation receives online applications and sends SMSs to the registered number of

building owners about acceptance and rejection of it once the software automatically detects

KMBR violations. The building owner needs to visit the corporation office only for the

verification of the original documents. The fee can be remitted using the online banking facility.

Corporation town planner A M Jayan said that many modifications have been made to the

KMBR 2019.

―The civic body authorities have already held talks with the firm for the speedy completion of

software incorporating all the sections and provisions in the 2019 KMBR. Preference is being

given to upgrade the plans of residential buildings and the software upgradation is expected to

be completed in a month,‖ he said.



Link https://realty.economictimes.indiatimes.com/news/regulatory/kozhikode-civic-body-stops-accepting-new-building-plans-to-upgrade-software/72122410

________________________________________________________________________________________________

Smartworks ties up with 2 realtors for largest co-working

space deal

This facility would have green certification and design implementation of Internet of

Things (IoT) for building management. Neetish Sarda, founder of Smartworks, said with

robust office space demand in Pune, their new facility would help in meeting office space

demand in the region and Pune was geared to lead the next wave of growth.

Co-working space company Smartworks has signed a pact with Amar Builders and Pristine

Properties in Pune to set up India‘s largest co-working facility. Smartworks has leased

5,00,000-sq ft space in an upcoming project, Amar Pristine Eighty Three (AP83), in Koregaon

Park.

The facility will be operational by 2021. With this new facility, Smartworks retains its market

leadership position in Pune and also claims to be a leader across the country in this space. AP83

is the largest deal in terms of space signed by any co-working space provider in India.

Smartworks has over 6,000 seats across its four facilities in Pune with over 90% occupancy and

AP83 will be its fifth facility in the city.

This facility would have green certification and design implementation of Internet of Things

(IoT) for building management. Neetish Sarda, founder of Smartworks, said with robust office

space demand in Pune, their new facility would help in meeting office space demand in the

region and Pune was geared to lead the next wave of growth.

Smartworks recently raised $25 million from Singapore-based Keppel Land, a real estate

developer and multi-faceted property firm. Presently, Smartworks has 23 operational centres in

nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq ft in Delhi-

National Capital Region, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune.

Smartworks caters to over 400 organisations, comprising mainly large enterprises and high-

growth start-ups such as Amazon Web Services, Bacardi, DHL, Ernst & Young,

Hitachi, Jaguar Land Rover Automotive, Microsoft Corporation and Petronash.

_____________________________________________________________________

Newspaper/Online Financial Express (online)


Link https://www.financialexpress.com/industry/sme/smartworks-ties-up-with-2-realtors-for-largest-co-working-space-deal/1769616/

Yes Bank acquires 20.6% in Tulip Star Hotels

Tulip Star Hotels, owns a prime sea-facing five-star hotel property in Juhu, Mumbai of

the same name.

HIGHLIGHTS

Tulip Star Hotels, owns a prime sea-facing five-star hotel property in Juhu, Mumbai of

the same name

The hotel Tulip Star was earlier known as Juhu Centaur and sold as part of the

divestment process

Yes Bank has acquired 20.61% stake in Tulip Star Hotels by invoking a pledge on the

company‘s shares. The stake was pledged by Ezeego One Travel – a part of the Cox & Kings

group which collapsed earlier this year.

Tulip Star Hotels, owns a prime sea-facing five-star hotel property in Juhu, Mumbai of the same

name. The hotel Tulip Star was earlier known as Juhu Centaur and sold as part of the

divestment process. Tulip Star had earlier entered into an agreement with a local developer

Siddhivinayak Realties for the property.

In July this year, Yes Bank acquired an 18.6% stake in defaulting travel company Cox & Kings

and 30% stake in its affiliate Ezeego1 Travel & Tours. The shares were acquired by the lender

upon invocation of pledged shares.

Cox & Kings is promoted by Peter Kerkar‘s son of Ajit Kerkar, the former chairman of Indian

Hotels, which runs the Taj group of hotels. The travel company had made large investments

globally acquiring travel businesses in the UK.

On Wednesday, the company informed the stock exchanges that the Bombay high court has

allowed IATA to encash a bank guarantee of Rs 24.3 crore issued by the company.

________________________________________________________________________________________________



Link https://realty.economictimes.indiatimes.com/news/hospitality/yes-bank-acquires-20-6-in-tulip-star-hotels/72125324

--Nov Oct--2019 · The Nashik Municipal Corporation (NMC), in a bid to promote composting of wet...

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