google.com

Translate

Search This Blog

Loading...

Follow by Email

Loading...

Thursday, December 18, 2014

Resolve Campa Cola flats row, SC asks residents, civic body

The Supreme Court on February 3 asked the Campa Cola Residents Association and the civic body in Mumbai to find out within four weeks a solution to the row over certain illegal and unauthorized flats which face demolition in view of its earlier order.
“The Attorney General is asked to sort out the matter. It is better to try to sort out the issue within four weeks,” a bench of justices S J Mukhopadhya and Kurian Joseph said.
The court’s remarks came when senior advocate Mukul Rohatgi, appearing for the residents body, said the proposal, which may include a plea for either regularization of illegal construction or relocating flat owners, was being finalized and would be submitted to Attorney General G E Vahanvati within two weeks.
It said the AG would consider the proposal and decide within four weeks.
Referring to earlier proceedings, the bench said the main matter had already been decided and moreover, “the review petition against the judgment has also been dismissed”.
“So far as the government is concerned, it can do anything. We do not want to say anything.” it said.
Earlier, the apex court had asked the unauthorized flats owners to vacate the premises by May 31 as no specific proposal could be worked out to provide them space in the compound for new construction.
The order was passed after Vahanvati said, “After considering all aspects we are not in a position to work out any specific proposal.”
The bench, which stayed the demolition of the unauthorized flats by taking cognisance of media reports, had said that it took the humanitarian ground into consideration to extend the date of demolition from November 11, 2013 to May 31, 2014 as the Attorney General had sought time to come out with a specific proposal for permanent solution.
It had asked the municipal corporation to take action in accordance with its February 27, 2013 order after the May 31, 2014 deadline ends.
The court on February 27 had ordered the Brihanmumbai Municipal Corporation to demolish the illegally constructed flats and on October 1 refused to re-consider its earlier order and had set November 11 deadline to vacate 102 flats which were declared as illegal.
Source: The Times of India, Mumbai

Milan Mall to reopen as garment hub soon

Milan Mall to reopen as garment hub soon

By Yogesh Sadhwani, Mumbai Mirror | Nov 27, 2014, 01.20 AM IST
Milan Mall to reopen as garment hub soon

RELATED

Loading
Shut down in 2011, the 190-odd shops at the Santacruz shopping plaza are being taken up mostly by garment wholesalers, and the mall is expected to be fully operational in four months.

Three years after it downed shutters, Milan Mall at Santacruz will soon reopen, this time in a new avatar. The mall that used to house several retail stores and a theatre, is now taking shape as a garment hub. 

A leading realtor has been roped in by the owners - Milan Theatres Pvt Ltd - to sell around 190 shops across four floors, and insiders reveal that most of them will be taken by garment wholesalers operating in the area. 

Milan Mall joins the list of shopping plazas that turned around from the brink of collapse. Thrown open in 2007, the mall which had Big Bazaar as its anchor store and a theatre, closed down in 2011. Ever since there was talk that it would make way for a residential project, but the owners put speculation to rest when they brought in B Kandhari Properties, a known real estate consultancy firm. 

"We studied the potential of the locality and found there were around 3,000 garment traders in the area. They were in need of space, which we had in abundance. Hence we decided to start a garment hub," said Vicky Kandhari of B Kandhari Properties, who runs the firm with his father Biharilal. "After our announcement, we have received an overwhelming response and several garment traders have already booked shops," Vicky added. 

Insiders said the mall, built on a 3,511 sq mt plot, will have 190-odd shops between 160 and 400 sq ft which will be sold depending on their location for Rs 25,000 to Rs 40,000 per sq ft. The mall is expected to be operational in four months. 

Milan Mall follows on the lines of Orchid City Centre (Mumbai Central) and Atria Mall (Worli) which were on the blink of closure and have made a comeback. City Centre was to be shut down when a fire engulfed Manish Market and traders there, who were looking for alternative space, were welcomed by Future Markets Network Ltd, which was managing City Centre. In no time the mall turned around and today commands rental of between Rs 400 and 675 per sq ft a month. 

Similarly, most shops downed shutters in Atria, which started in 2006 with stores of several high-end brands. However, Atria Mall Management Ltd recently offered a ray of hope not just to the mall but to other store owners by leasing out one-third of the mall area to Shoppers Stop. The owners believe it will increase foot-falls, and generate business for other stores too. The new anchor store is yet to open. 

Not long ago, the owners of Dreams Mall in Bhandup which was not doing well, decided to turn it around and announced opening of a 230-bed hospital. It was to open in June, however, has been put on hold as permissions are yet to come through. To make maters worse, BMC recently issued notices to 400-plus shops and the mall owners for misusing space and taking over common areas.

Property prices in Mumbai likely to correct by up to 20%

Property prices in Mumbai likely to correct by up to 20%

Mumbai
Piling up inventory and rising demand from home buyers may result in declines in property prices by nearly 20 per cent in the Mumbai metropolitan region (MMR) over the next few months, according to a study.
The study conducted by ASK says the demand for housing in the MMR is expected to increase to nearly 1.20-1.25 lakh units annually over the next three years, while the property prices are likely to correct to up to 20 per cent in the next few months, mainly because of the large inventory.
The demand for housing has been driven largely by sectors like finance, media, telecom, 
entertainment
, IT/ITeS, gems and jewellery and trading industry and will continue to do so in the future as well.
“The imminent economic growth would result in rising incomes, higher addition of jobs, and need for housing. The expectations of softening interest rates, standardisation in approvals and various policy initiatives will provide boost to the real estate sector,” ASK Group CEO and Managing Director Sunil Rohokale told reporters here today. At the same time, providing housing that meets the end-user budget would be the real challenge, he added.
ASK Property Investment Advisors CEO and Managing director Amit Bhagat said that increasing suburbanisation of the Mumbai region and demographic growth indicates a housing need of 1.20-1.25 lakh units annually over next 3 years.
“We expect prices to not go up due to balanced demand-supply, while growth corridors are expected to witness rise in demand from end-user,” he said.
“We expect nearly 20 per cent correction in prices in the next few months,” he added.
In the last five years, property prices had increased by nearly 20-30 per cent, he said. In FY14, nearly 1.29 lakh units were launched, while the inventory was around 2,46,700 units.
Bhagat said locations like Chembur, Ghatkopar, Navi Mumbai and Andheri will be the future growth centres, mainly because of the infrastructure projects coming up in these markets.
“Scarce land availability with limited floor space index (FSI) in the island city has compelled commercial and residential development to move north-wards. Besides, various infrastructure projects coming up in the suburban regions has attracted developers to develop more projects in these markets,” he added.
Source: The Economic Times, Mumbai

Bandra: The most promising destination

Bandra: The most promising destination

Mumbai
Star-studded suburb Bandra is a mix of the old and new, where Portuguese architecture and old churches sit alongside large, trendy Bollywood residences. Also, with its collection of boutiques, restaurants and street markets, it is a great place to shop, eat or simply wander around.
Rakhi D’Sylva, finance professional, recently shifted from Australia and bought a house on Carter Road. Rakhi feels that “Bandra is certainly a good place to reside in, for locals and expats. It has a younger vibe and is close to several trendy restaurants and shops and is only an hour from south Mumbai via the sea link.“
The area has arisen from old architectural buildings and infrastructure, to become one of the most popular suburbs of the city . Today, Bandra is an even more cosmopolitan suburb, characterised by the presence of caf├ęs, restaurants, boutiques and art galleries. The area has seen massive transformation thanks to an infrastructure boom and amenities to support simplified and serene living. The location, in totality, has emerged as an attractive destination from an investment perspective, as it benefits from the abundance of leisure and lifestyle choices.
Real estate agent Naved Khan, says, “Bandra is a very popular destination and the kind of buildings that are coming up here, the lobbies, swimming pool, gymnasium and gardens, etc., you don’t find these in south Mumbai anymore.“
Talking about the most happening suburbs, Hiral Sheth, director-marketing and sales, Sheth Creators, says, “Bandra, strategically located in the western suburbs, not only beckons the soul but also mesmerises you at once, with the opulent lifestyle that it offers. This location offers good connectivity, affluent high-rise residential developments, topnotch commercial hubs and glamour and pride to the society. The locality offers booming social infrastructure with several schools, colleges, designer jewellery showrooms, high-end boutiques and convention centres.“
South Mumbai has always been the preferred home to Mumbai’s upper crust for years. However, now with virtually no land to be had in the island city, the elite are moving into the suburbs and Bandra seems to be the hot new destination. Accroding to Harikesh, senior VP marketing and sales, Tata Housing, “Though Mumbai has always been the most fa vored real estate destination, affordable property prices and better connectivity is encouraging homebuyers to look at places situated in the vicinity.“
The area has the unique advantage of being in close proximity to south Mumbai and the suburbs, and the residential areas have posh pockets like Pali Hill, Carter Road and Bandstand, which are the most famous of the lot. With the town planning of Bandra east, Bandra Kurla Complex done by MMRDA and with the kind of road connectivity and open spaces reserved for recreation, etc., there is a lot of scope for further development of residential as well as commercial properties.
Not just the 
entertainment
 industry, but business offices and consulates too, are now moving to Bandra with great speed. Om Ahuja, CEO residential services, JLL India, informs how “Bandra west, is a popular residential destination since it holds high lifestyle value, despite the fact that it faces a significant degree of traffic congestion. This area is always a preferred destination for prime property seekers because of its elite profile, and because of the high level of available shopping, healthcare, education and recreational facilities. Developers here are offering products in redevelopment schemes.“
Sheth adds how “There are numerous residential and commercial projects being launched in Bandra.This destination enjoys a status that is similar to that of Nariman Point and is already providing the perfect solution to absorb future growth of offices and commercial activities successfully. This location has showcased tremendous growth in the changing times and the development of infrastructure and the standard of living.“
Also, many big developers are showing keen interest in the area. According to the company spokesperson of Kalpataru Limited, “The developers are focusing on this area due to the central location of the suburb. Bandra offers close proximity to the major business hubs in Mumbai as well as to the domestic and international airport.“
The presence of international schools such as the Dhirubhai Ambani International School, the American School of Bombay and five star hotels like Trident, Sofitel and Grand Hyatt, raises the social quotient of this locality. Dinesh Kuwadia, chairman and founder, Happy Home Group, says, “The social infrastructure in Bandra, is the best in the suburbs. Within a span of three to five kms, one gets good hotels, schools, hospitals and the connectivity of the Bandra Worli Sea link, Santacruz-Chembur Link Road, along with the cosmopolitan atmosphere, is keeping alive Bandra’s tag as the `Queen of suburbs’.“
The main growth factor for residential development in this area is that corporate Mumbai has been moving northwards to Bandra and Santacruz. BKC, for sure, has emerged as the most-preferred location for new spacious offices. Many renowned financial institutions have their offices in BKC. The presence of the Bharat Diamond Bourse, has further promoted the commercial identity of this location. Sachin Deodhar, president-sales and marketing, Rustomjee, says, “There is no clutter and chaos unlike in other parts of the city, which ensures a smooth ride to your destination. The area provides an ideal balance between work and leisure.“
Source: Times Property, The Times of India, Mumbai

BMC stops builders from prohibiting meat eaters buying flats

BMC stops builders from prohibiting meat eaters buying flats

The BMC general body on Thursday passed a resolution saying the civic authority should stay construction of any residential project if a builder refuses to sell flats on grounds of caste, religion or food preferences.
BJP, which is part of the ruling alliance at the civic body, was left isolated on the issue, indicating how parties are ganging up against BJP and its traditional vote-bank. The resolution introduced by the Maharashtra Navnirman Sena, was supported by Shiv Sena, BJP’s partner, Congress and SP.
“Many developers in the city refuse to sell flats to buyers who eat non-vegetarian food. Even though flats are available for sale, developers refuse only because the buyer is of a specific caste, religion or a non-vegetarian. The BMC should immediately stay the commencement certificate and intimation of disapproval, two documents necessary to start and continue construction of a building, to such developers,” said MNS corporator Sandeep Deshpande, who moved the notice of motion without naming any community.
“The BMC should amend the development control rules to give relief to non-vegetarians,” the corporator told TOI, adding: “Most developers don’t refuse to sell on record, which makes it difficult for a prospective buyer to complain.”
Deshpande’s move sparked a ruckus in the general body meeting, with Sena, Congress and SP members seconding the resolution and BJP opposing it. The mayor took a poll by show of hands and declared that the resolution had passed with majority (see box). The resolution will now be forwarded to the municipal commissioner for further remarks, said a corporator.
Thursday’s resolution seems to be more an act of political posturing than an act of conviction. A senior BMC official said it is not necessary that the commissioner put the resolution into action. “The municipal commissioner can reject the resolution or keep it on hold for the time being or if he wishes, he can clear it and forward it to the state government for further action,” said the officer.
Legal experts agree that the resolution is not binding on the municipal commissioner. “The BMC Act as well as the Maharashtra Regional Town Planning Act give the commissioner sweeping powers to put conditions in the IOD or commencement certificate issued to a builder. But this is a discretionary power and the commissioner is not bound to do it even if a resolution to that effect is passed by the corporators,” said IPS officer-turned-lawyer Y P Singh.
The resolution, even if cleared, is likely to run into the BJP state government, pointed out experts.
After the resolution, parties vented. “There should not be any discrimination in the city. There should be a debate on the issue of development and not on issues which would lead to divisions in the community,” said Manoj Kotak, BJP leader in the BMC.
Shiv Sena leader Yashodhar Phanse hit back, saying even his party colleague and corporator Arvind Dudhvadkar had been refused a flat because he is non-vegetarian. Samajwadi Party leader Rais Shaikh said the city is known for its cosmopolitan culture and everything should be done to preserve it.
In 2005, the Supreme Court on a petition by a Zoroastrian cooperative housing society upheld a bye-law that allowed rent or sale of flats only to members of a particular religion or community. The ruling has since emerged as the yardstick in dealing with most community-based cooperative housing disputes.
Advocate Jamshed Mistry said a rule that prohibits discrimination is unlikely to fall foul of the law. “Why should anyone be discriminated against on the basis of their diet? The Constitution provides equality before law,” he added.
Perhaps a better way forward on the issue could be in the hands of the state government, which has the power to make and change laws. “If the state wants, it can bring changes in the Maharashtra Ownership of Flats Act or the Cooperative Societies Act or the DC rules to ban any discrimination on the basis of caste, religion or eating habits while selling flats,” said Y P Singh.
Sujit Mahamulkar and Shibu Thomas, Times of India

E-mutation of land records from April

E-mutation of land records from April

Mumbai
From April next year, citizens will be able to enter their names in the Record of Rights register online. It is also popularly known as the 7/12 uttara (extract).
Once a purchase purchase deed is registered, citizens will not have to visit the tehsildar/talathi office for mutation to be carried out on the 7/12 extract. Rather, this will be done electronically and the person can get a certified copy from the talathi’s office, Setu Kendra or the Citizen’s Service Centre within a fortnight, said settlement officer Chandrakant Dalvi.
Dalvi said citizens currently have to make numerous trips to the office and the use of technology will eliminate this human interface. The Anti-Corruption Bureau has rated the state revenue department as the most corrupt. This year alone, 297 cases were registered and 392 officials caught. Last year 148 cases were registered in the same period. Where citizens have access to the internet, they will be given a code number and can access the information on the mahabhoomi website, said S S Sandhu, principal secretary, revenue.
The digitisation of land records of 127 talukas has been completed and that of 102 talukas has already been uploaded on the state data centre. The digitisation of records for all 358 talukas is expected to be completed by December end.
“Uploading takes time as after digitisation we have to clean up all mismatches, mistakes in the 7/12 extract. We allow the data to be uploaded only after all corrections are carried out, ensure mutations and crop cultivation are updated. These are then run through a software to ensure they are clear and legible,” said Dalvi. The state revenue department has already started training tehsildars, talathis and circle officers of the revenue department for carrying out e-mutations.
Dalvi said once a sale/purchase deed is recorded with the registrar’s office, it will be electronically communicated to the revenue staff dealing with e-mutation. The department will have to ensure that all stake-holders are informed and hearings conducted wherever necessary. “If no objections are received then the mutation will be certified and updated within a fortnight,” he said.
In August, the Inspector General of Registration and Controller of Stamps released its charter of services whereby citizens can demand the documents be registered within 30 minutes from the time of submission (if all documents are in place and the executants as well as identifiers are present).
Source: The Times of India, Mumbai

Property sizes in Mumbai region falling since 2012: Survey

Property sizes in Mumbai region falling since 2012: Survey

Mumbai
Sizes of homes across the Mumbai metropolitan region (MMR) are shrinking over the past two years as real estate players are developing small-sized properties keeping in mind the price factor.
The home size has decreased by as much as eight per cent since 2012 and the trend is likely to continue as the population grows and property prices increase, property portal Commonfloor said in its study.
“…since 2012, it may be found that property sizes have constantly decreased, while prices have almost remained the same or marginally increased,” it said. The trend started as early as 2009 but became increasingly visible over the last two years.
“One of the main reasons for increasing number of small-sized properties is the affordability aspect. Prices in Mumbai have seen a meteoric rise over the last few years. Yet every individual aspires to own a home there. Keeping in mind the affordability aspect of buyers, realty players have started launching properties that are smaller in size.”
Buyers don’t mind compromising on the size of the properties if they fall within budget and are in the city limits, the survey said. “Secondly, the MMR is witnessing a rapid increase in population over the last few decades. Mumbai is currently the seventh most populous city in the world and in the league of Tokyo and Delhi. An increasing population raises concerns for available space. This may be considered a key contributor to the reducing property sizes,” it said.
Source: Economic Times, Mumbai