Reliance ADAG to develop township in Navi Mumbai in collaboration with Wanda Group (China)

Anil Ambani signed a MOU with Wanda group of China to develop 135 acres of land in Navi Mumbai near Ghansoli.It will be the first integrated township to be developed by Reliance ADAG in collaboration with Wanda group.The other will be in Hyderabad.

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Collector cancels land allotments

Map of Mumbai city district and Mumbai suburban district, with major roads, railways and water bodies. (Photo credit: Wikipedia)

The Mumbai Suburban Collector Sanjay Deshmukh has decided to end the misuse and violation of land allotment agreements. Mr Deshmukh has recently cancelled the allotment of Jolly Brothers and Gyankendra Shikshan Sanstha and Shivshruthi Krida Kendra.Jolly brothers was allotted 60 acres of land near Kanjur marg railway station worth 3000 crores for Industrial purpose but was found to be in violation of the lease terms. Similarly, Gyankendra was allotted 4000 sq meters of land in Andheri but it was found that construction work was not completed in two years, as specified in the lease agreement. The ownership of the land has been transferred back to the govt. In the case of Shivshruthi, it was found that the organization had entered into an agreement with a developer to develop the land thereby illegaly creating a third party interest. Along with the above, more than 135 builders, housing societies and educational institutions have been served a notice after it was noticed that they too had prima facie violated the lease terms.
It may help to know that most of the 12.5% land allottees in Navi Mumbai are also in violation of the lease terms with CIDCO when they sign development agreements with builders. CIDCO has the powers to cancel all such land allotments provided a complaint is made to them. Buyers who are victims of such Development agreement scams are requested to approach CIDCO for cancellation of the same and re allotment in the favor of flat buyers/societies. CIDCO can then sign the Lease Deed directly with the Society and convey the land and building in the name of the Society.

Competition commission probing 5 real estate companies

DLF logo

5 real estate companies-DLF,JP associates, Larsen and Toubro, Tulip infratech and Omaxe are the subject of an investigation by the Competition Commission of India for alleged anti-competitive practices.

Over 23 cases have been registered against these companies.

15 cases against DLF have already been concluded and the company has been fined over Rs.650 crores.

Flat purchasers can approach the CCI if they have been forced to sign one sided agreements favoring the builder, as is the case in most real estate deals these days.

The Competition Act has also been amended to give the CCI to whet all M&A (merger and acquisition) deals and search and seizure raids henceforth.

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Sewri-Nhava Sheva trans-harbour link gets environment ministry approval

There is good news for people living in Navi Mumbai. The proposed Trans-harbour  from Sewri in Mumbai to Chirle.http://upload.wikimedia.org/wikipedia/commons/c/ce/Mumbai_trans_Harbor_link.jpg) in Navi Mumbai has received approval from the Environment Ministry. This bridge (6 lane expressway) will span 22 kms and reduce the journey time from Navi Mumbai to Sewri to a mere 15 mins. It will also reduce the pressure on the current bridge in Vashi. Travel time to the upcoming airport will also be reduced. The earlier approval of the Environment ministry had lapsed due to delay in the bidding process, which has now prolonged its construction time. Environmental activists had objected to the bridge saying that no public hearings for the fresh application and that the bridge was not allowed as per the new CRZ notification of 2011.
The bridge is likely to be completed in the coming decade by 2017.

http://www.youtube.com/watch?v=6XbanMboMWw

For more information:http://en.wikipedia.org/wiki/Mumbai_Trans_Harbour_Link

Automatic deemed conveyance to be given by govt

In a major breakthrough for the conveyance problem of housing societies, the govt has now stepped in and made it clear that any builder who refuses to give conveyance to the flat buyers or co-op housing societies within 4 months of handover of flats to the buyers, the local deputy registrars office will give a deemed conveyance certificate automatically after being approached by the flat buyers.
This will bring to end the long and sordid chapter in indian housing. Builders use the conveyance ploy to avoid handover of land and building to housing societies and continue to fleece buyers in the name of NOC. After being approached by flat buyers ,the deputy registrar will call the builder and flat purchasers/societies. If it is found that the conveyance has not been given even after 4 months of handover of flats, the registrar will issue a deemed conveyance certificate.
Let us hope that this scheme is not just on paper but actually implemented in true spirit.
The person responsible for the same in Navi Mumbai is Mr.Deshmukh (JT Registrar of Co operative societies at Konkan Bhavan at CBD Belapur).Housing societies no longer have to submit 21 documents which were required earlier. Now, only the relevant documents have to be filed before the registrar. He will pass an order within 6 months of receiving the application in the set format.