10-Oct-2019

06-Dec-2019

12-Mar-2020

https://www.credaibengalhomes.com/developers/login/

CREDAI Bengal Daily News Update | 12.03.20

WEST BENGAL NEWS

________________________________________________________________________________________________

Newspaper/Online The Times of India

Date March 12, 2020

OTHER NEWS

SBI cuts MCLR by up to 15 bps across tenors

Overnight and one-month MCLRs have been reduced by 15 basis points to 7.45 per cent

each. Three-month MCLR has been revised to 7.50 per cent from 7.65 per cent.

The country's largest lender State Bank of India (SBI) on Wednesday said it has reduced its

marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenors,

effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent

from 7.85 per cent earlier, the SBI said.

This is 10th consecutive cut in MCLR by the bank in the current fiscal.

Overnight and one-month MCLRs have been reduced by 15 basis points to 7.45 per cent each.

Three-month MCLR has been revised to 7.50 per cent from 7.65 per cent.

The new two-year and three-year MCLRs stand reduced by 10 basis points to 7.95 per cent and

8.05 per cent, respectively.

On Monday, another state-run lender Union Bank of India had announced cut in its MCLR by 10

basis points across all tenors, effective March 11.

This is the ninth consecutive rate cut announced by the Mumbai-based bank, since July 2019.

The bank has cut its one-year MCLR to 8 per cent from 8.10 per cent. The overnight MCLR has

been revised to 7.55 per cent, while the new one month rate stands at 7.60 per cent, the bank had

said.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 11, 2020

Link https://realty.economictimes.indiatimes.com/news/residential/sbi-cuts-mclr-by-up-to-15-

bps-across-

tenors/74572114?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

Rural development ministry to seek two more years to meet

PMAY-G target

Unable to meet its target of providing a house to every rural household under Pradhan Mantri

Awas Yojana (PMAY-Gramin), the rural development ministry would seek an extension of two

years for the flagship programme. The approved mission period for PMAY-Gramin would end

on April 1.

According to sources, the rural development ministry would seek Cabinet approval for extension

till March 31, 2022. The mission, which was launched in 2016, had set an initial target of

constructing 2.95 crore houses based on Socio-Economic Caste Census 2011 data.

The ministry had set the target of constructing 1crore houses in the first phase of PMAY-Gramin

by March 31, 2019. However, till February 27 this year, 96.84 lakh houses had been completed.

In the middle of the first phase, the ministry scaled down the target to 2.47 cr from 2.95 cr. Now,

even with the pared target, the ministry still has to complete 1.47 crore houses. So- urces told ET

that the ministry would put before the Cabinet that even beyond March 31, 2022 there would be

a spillover of 5-6 lakh houses.

A senior official said, “We are seeking extension till March 2022 but the mission would need

another 1-2 years to complete the task. The spillover would be anywhere between 3 and 4%.”

Even as the ministry is seeking an extension, it is working on the reasons for the spillover. It has

found two main reasons – death of identified beneficiaries and temporary or permanent migration

for work. In many cases, the beneficiary dies and does not have a legal heir.

The ministry has now decided that the land for the house would be transferred to a landless person

in the village. A seniority list is maintained in every block and the person next in queue could

also be entitled to get the house. In case of migration, a village would need to identify the

households and hold a gram sabha to delete their names from the list of beneficiaries.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 12, 2020

Link https://realty.economictimes.indiatimes.com/news/residential/rural-development-

ministry-to-seek-two-more-years-to-meet-pmay-g-

target/74586685?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

Credai seeks single window clearance, reduction in stamp duty in

Tamil Nadu

The single window system would throw the entire building approvals online, wherein all

applications including planning permission and completion certificates would be processed

at a click of button.

The Confederation of Real Estate Developers Associations of India (Credai) has sought the Tamil

Nadu government to launch a single window system for building approvals and reduce stamp

duty.

In a letter to chief minister Edappadi K Palaniswami and deputy chief minister O Panneerselvam,

Credai Tamil Nadu chairman S Sridharan said the state government should implement the long

awaited single window clearance. It would pave the way for dynamic and vibrant growth of

the industry in the state, he added.

The single window system would throw the entire building approvals online, wherein all

applications including planning permission and completion certificates would be processed at a

click of button.

Credai Chennai chapter president W S Habib said the government should take immediate steps

to reduce stamp duty.

"With amendments to the Tamil Nadu Combined Development and Building Rules, we expect

that further measures such as reduction in stamp duty on a par with other states will benefit the

revival and robust growth of real estate of the state," he said.

Tamil Nadu has the highest combined registration fee and stamp duty -- 11%.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 12, 2020

Link https://realty.economictimes.indiatimes.com/news/industry/credai-seeks-single-window-

clearance-reduction-in-stamp-duty-in-tamil-

nadu/74586860?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

No time frame can be given for redevelopment of New Delhi

station: Railway minister

Ministry of Railways has entrusted the work of redevelopment of New Delhi Railway

Station to the Rail Land Development Authority (RLDA) under Public Private Partnership

(PPP) mode.

No time frame can be indicated for the redevelopment of New Delhi Railway Station as the

project is first-of-its-kind and "complex" in nature, the railways ministry told parliament on

Wednesday.

In a written reply in Lok Sabha, Railway Minister Piyush Goyal said the Ministry of Railways has

entrusted the work of redevelopment of New Delhi Railway Station to the Rail Land Development

Authority (RLDA) under Public Private Partnership (PPP) mode.

The process for preparation of Detailed Project Report, master plan and bid documents has been

initiated by RLDA, he said.

"Station redevelopment projects at this scale in PPP mode are first-of-its-kind and complex in

nature, and require detailed techno-financial feasibility studies and statutory clearances from

urban/local bodies etc. Therefore, no time frame can be indicated at this stage," Goyal told the

House.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 11, 2020

Link https://realty.economictimes.indiatimes.com/news/infrastructure/no-time-frame-can-be-

given-for-redevelopment-of-new-delhi-station-railway-

minister/74579183?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

Thiruvananthapuram civic body to offer same dimension flats

under LIFE Mission

Thiruvananthapuram civic body may execute 52 dwelling units comprising 20 units of

37.75m2 and 32units of 40.01 m2 instead of 44 dwelling units at a maximum estimated cost

of Rs.4.62 crores.

The city corporation has decided to prioritize harmony and equality over space and comfort in

implementing the first LIFE tower under state’s housing mission in the state capital.

The corporation planned to construct the first apartment complex under LIFE

mission at Karimadom which was earlier chosen for another housing scheme under basic services

for urban poor ( BSUP).

Officials brought to the notice of the administration that 320 dwelling units have already been

constructed under BSUP at Karimadom and the dimensions of flat in terms of plinth area, number

of bedrooms varied for BSUP and LIFE mission.

Officials learned that having two set of flats with different dimensions to house people in the

same area would create social inequality and could lead to problems that would derail the

objectives of LIFE mission.

In BSUP, the plinth area unit is 40.30m2 and it has one bedroom, multipurpose hall, kitchen,

toilet cum bath and a balcony/ verandah. While in the LIFE mission project, the plinth area of the

flat is 46.45m2 and with two bedrooms, a hall, kitchen, balcony and separate toilet & bath.

Corporation mayor K Sreekumar informed LIFE mission that implementing dwellings of

differing facilities may cause social issues among the residents of the colony. Hence, he requested

to give sanction to Thiruvananthapuram Corporation to take forward LIFE Tower project of

executing 52 dwelling units comprising 20 units of 37.75m2 and 32units of 40.01 m2 instead of

44 dwelling units at a maximum estimated cost of Rs.4.62 crores.

The corporation has identified 50 cents of land for construction of LIFE towers in Karimadom

colony. A total of 560 dwelling units are proposed to be built under BSUP scheme, of which 320

units have been completed and 112 units are under construction.

LIFE mission CEO wrote to the state government that the deviation request by corporation can

be considered favourably and LSGD has now given sanction to alter the approved dimension of

flats in LIFE tower which will be constructed at Karimadom.

Project officials with housing mission had to deal with numerous instances where beneficiaries

continuously alleged complaints regarding selection, shifting to interim shelters and even

grievances that flats had been awarded to ineligible beneficiaries. It is in the light of these previous

Newspaper/Online ET Realty (online)

Date March 11, 2020

Link https://realty.economictimes.indiatimes.com/news/residential/thiruvananthapuram-civic-

body-to-offer-same-dimension-flats-under-life-

mission/74569041?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

experiences that the officials recommended cutting down on space and rooms to ensure peace and

equality in the housing colony.

The city corporation is set to purchase nine acres for the construction of apartment complexes

under LIFE housing mission after a series of botched attempts to find plots for housing

complexes.

________________________________________________________________________________________________

Goa set to miss NGT's deadline to complete coastal zone

management plan

The NGT had directed NCSCM, the Chennai-based agency entrusted with drawing up the

plan, to submit the final draft after a public hearing to the Union environment ministry by

March 31, 2020.

The state government is set to yet again miss the National Green Tribunal’s (NGT) deadline to

complete the long-pending coastal zone management plan (CZMP) for the state, since the

National Centre for Sustainable Coastal Management (NCSCM) is yet to submit a draft CZMP

and hold the public hearing.

The NGT had directed NCSCM, the Chennai-based agency entrusted with drawing up the plan,

to submit the final draft after a public hearing to the Union environment ministry by March 31,

2020. It also said that the final notification has to be issued before April 30, 2020.

“The deadline cannot be met as a notice of one month has to be issued for public hearing once

the draft CZMP is received,” said a senior official in the environment department. He said that

once the hearing is conducted, the government again has to accept or reject the objections and

suggestions given by the public at the meeting.

The state government has written to NCSCM to know the status of the draft CZMP, an official

said. The centre also has to incorporate the new high tide line (HTL) in the CZMP.

The state government had directed the department of survey and land records (DSLR) to map all

the bunds and sluice gates across the state and furnish the details to the NCSCM.

Recently, the National Coastal Zone Management Authority (NCZMA) accepted the state

government’s request to demarcate the high tide line (HTL) along bunds and not around

mangroves in khazan lands for CZMP. It, however, rejected the state’s plea seeking reduction of

the no-development zone (NDZ) for headlands to 10 metres.

A number of village panchayats and municipalities had earlier demanded that the HTL be

demarcated along bunds and not around mangroves. They had even submitted their respective

CZMPs to the Goa Coastal Zone Management Authority (GCZMA).

During a presentation to the national authority, the GCZMA had highlighted the impact breached

bunds have had on CRZ boundaries in khazan lands that are eco-sensitive, low-lying areas

traditionally not influenced by tidal action.

It had consequently demanded that the demarcation of HTL in khazan lands that have been

inundated due to breach of bunds be dropped, and that the HTL be restricted up to the bunds and

be mapped as such.

Newspaper/Online ET Realty (online)

Date March 11, 2020

Link https://realty.economictimes.indiatimes.com/news/infrastructure/goa-set-to-miss-ngts-

deadline-to-complete-coastal-zone-management-

plan/74578648?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

In August 2019, the government sought three months extention to complete the CZMP but could

not complete it.

In November 2019, it sought another extention.

The first CZMP for Goa was prepared in 1996. However, this was done without survey numbers,

and was considered a base plan for the 2011 CZMP.

But when the public began getting notices for demolition of houses, then chief minister Manohar

Parrikar took the plan up seriously and asked the NCSCM to prepare the 2016 CZMP.

________________________________________________________________________________________________

Telangana HC to hear illegal building cases on priority basis

GHMC Commissioner Lokesh Kumar who was present in the court informed the bench

that there are 10,600 complaints seeking demolition of illegal buildings in Greater

Hyderabad.

The Telangana high court on Wednesday sent out a stern message that those who are hiding

behind stay orders obtained from courts to protect their illegal structures are no longer safe.

The high court also asked GHMC commissioner Lokesh Kumar to submit details of all cases on

illegal structures that were pending with the high court as well as the civil courts. The court also

directed its registrar general to keep all such courts informed of the fact that the CJ bench is seized

of all such matters.

“We will create a special category for all such cases and would resolve all of them on a priority

basis,” said a bench of Chief Justice Raghavendra Singh Chauhan and Justice A Abhishek Reddy,

while hearing a plea filed by C R Sudhinder Kumar of Kruparam Bagh near Sultan Bazar in

Hyderabad. The plea questioned the construction of five storey illegal structure in the area.

GHMC Commissioner Lokesh Kumar who was present in the court informed the bench that there

are 10,600 complaints seeking demolition of illegal buildings in Greater Hyderabad. This is in

addition to the 1.10 lakh illegal structures that are awaiting regularisation orders under building

regularisation scheme.

“Of the 10,000 buildings that were declared illegal, we could demolish 3,400 buildings. But we

were rendered helpless with respect of 4,600 illegal buildings whose owners obtained stay orders

from courts”, Lokesh said.

The CJ assured the commissioner that they would be designated as special category cases and

would be resolved on a priority basis.

“We cannot allow people to raise illegal structures and they cannot be permitted to abuse court

process later,” the bench said, adding “We will take up a special drive to clear the city of illegal

structures”. “Law of the land has to prevail and errant builders should be made to hear the sounds

of bulldozers”, the CJ added.

The bench also told the GHMC chief to be cautious with his staff who were seemingly hand-in-

glove with the illegal builders. “You have to take stringent action against them. Otherwise they

will pull the wool over your eyes,” the bench said.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 12, 2020

Link https://realty.economictimes.indiatimes.com/news/regulatory/telangana-hc-to-hear-

illegal-building-cases-on-priority-

basis/74586783?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12

PACL case: Sebi bans Sonu Nigam from selling, transferring

agricultural land

In its order, Sebi said Nigam has been "prohibited from disposing, transferring, alienating

or charging" agricultural land of over 53 acres in Karjat.

Markets regulator Sebi has barred playback singer Sonu Nigam from disposing or transferring

agricultural land in Karjat area in Maharashtra that he had purchased from a company of crisis-

ridden PACL group.Sebi has put several restrictions on PACL, which collected more than Rs

60,000 crore from investors through illegal collective investment schemes over a period of 18

years. The group is not allowed to sell or transfer any of its assets.

Nigam has a farmhouse in Karjat, which is 62 kilometres away from Mumbai.

In its order, Sebi said Nigam has been "prohibited from disposing, transferring, alienating or

charging" agricultural land of over 53 acres in Karjat.

The PACL committee, which has been entrusted to sell properties of PACL and use the sale

proceeds to refund investors, received a letter in April 2018 from Jan Kalyan Trust informing the

committee about the sale deed made and registered on January 15, 2018 in the name of Sonu

Agamkumar Nigam for agricultural land situated in Karjat.

As per the letter, the property is of a sister concern of PACL Ltd -- Wital See Marketing Ltd and

at the time of purchasing the property payment was made by PACL.

In its submission to the committee in May 2018, PACL said that more than 99 per cent share

capital of Wital See Marketing is controlled directly by its 21 associate companies.

Accordingly, Wital See Marketing is an associate company of PACL and the committee has

directed that these properties should be attached by the markets regulator.

Apart from Nigam, Wital See Marketing has also been directed to furnish complete details of

movable and immovable properties held by them within two weeks, the Securities and Exchange

Board of India (Sebi) said in dated March 9.

In December 2015, Sebi had ordered attachment of all assets of PACL and its nine promoters and

directors for their failure to refund the money due to investors.

Sebi had asked PACL, as also its promoters and directors, to refund the money in an order dated

August 22, 2014. The defaulters were directed to wind up the schemes and refund money to the

investors within three months from the date of the order.

________________________________________________________________________________________________

Newspaper/Online ET Realty (online)

Date March 11, 2020

Link https://realty.economictimes.indiatimes.com/news/regulatory/pacl-case-sebi-bans-sonu-

nigam-from-selling-transferring-agricultural-

land/74580210?utm_source=Mailer&utm_medium=&utm_campaign=&dt=2020-03-12