Incomplete projects in Indore & Bhopal get MP-RERA breather

Indore

Over a dozen real estate projects led by Indore and Bhopal have sought extension from MP Real Estate Regulatory Authority (RERA) after they failed to complete project as per proposed deadline at the time of registration.

At the time of registration of project under RERA, promoters have to propose deadline for completing the project and if deadline is breached, promoter has to take extension from the authority or else the project will fall in illegal category.

RERA chairman Anthony De Sa said, “There are over a dozen projects that have asked for extension. Extensions are being granted so that they do not become illegal projects. In case of illegal the project will be of no use to the allottee and the builder.”

The authority is giving extensions after promoter pays a certain fee and project remains under regular monitoring. De sa said extensions are given with mandatory condition that it does not any way affect right of allotee and they get compensation for delay.

According to Rera, extensions can be given for a maximum one year in phased manner while under certain circumstances considering interest of allottees, extensions can be above a year.

Recently at a hearing in Indore, an Indore based commercial project costing around Rs 13 crore has been granted an extension of 3 months over an year.

Sources – www.realty.economictimes.indiatimes.com/news/industry/incomplete-projects-in-indore-bhopal-get-mp-rera-breather/68377731

Inadequate pipe length can harass your neighbour

Detect Issues

Moisture patch noted on bathroom ceiling.

Describe Issues

In above floor’s bathroom, outlet pipe connecting in trap is short in length & spreading water in slab/ flooring bed mortar; this is creating moisture patch in below floor i.e where issue is detected. If not rectified at proper time, can further lead to spreading of moisture  in associated area and will lead to water dripping from ceiling at adjacent below storey. This will affect occupants by creating inconvenience due to heavy repair work as also unhealthy living condition.

Direct Solutions

We recommend :
1. short pipes to be extended using coupler/elbow by using solvent cement,
2. floor outlet to be cleaned by wire brushing & grouting by plumber with ’tile grout’/non-shrink grout.

‘Secret 7’ ways to save energy at home

Want to spend less and save more? Here are the ‘Secret 7’ ways to do so.

Energy conservation is important and very beneficial. The two major motives for conserving energy are to save on utility bills and protect the environment all through simple energy-saving measures. By simply taking few small steps towards living a more energy-conscious lifestyle, you can begin to enjoy all of the perks of being energy efficient. There are many different ways to reduce your household’s energy use, ranging from simple behavioral adjustments to extensive home improvements. Here are seven common ways to conserve energy and save electricity in your home.

1. Replace Glowing lights

The average household dedicates 11% of its energy budget to lighting. Traditional incandescent lights convert approximately only 10% of the energy they consume into light, while the rest 90% becomes heat. Turn off incandescent / shining lights when you are not in the room.

2. Adjust your day-to-day behaviors

To reduce energy consumption in your home, you do not necessarily need to go out and purchase energy efficient products always. Energy conservation can be as simple as turning off lights or appliances when you do not need them. The behavioral adjustments that have the highest potential for utility savings are using your air conditioners (AC) in a limited manner in the summer.

What is the best way to run AC?? It is always better to run AC at 25+ degrees and put the fan on at slow speed.

This will cost less electricity and your body temperature will also be in the range and there will be no ill effect on your health. Another advantage of this is that the AC will consume less electricity, the blood pressure on the brain will also decrease and Saving will ultimately help reduce the effects of global warming. How?? Suppose you save about 5 units per AC per night by running AC on 26 Degree and other 10 lakh houses also do like you then we save 5 million units of electricity per day. At the regional level this savings can be crores of units per day. Please consider the above and do not run your AC at all below 25 degrees. Keep your body and environment healthy.

3. Weatherize your home

Weatherizing or sealing air leaks around your home, is a great way to reduce your heating and cooling expenses. The most common sources of air leaks into your home are vents, windows, and doors. To prevent these leaks, you should ensure that there are no cracks or openings between the wall and vent, window, or doorframe.

4. Older appliances are often less energy efficient

Electricity rates are increasing every year. The appliances of today are much more efficient than their predecessors as they have made energy-saving leaps over the years. Replace the old ones with energy efficient products.

5. Take shorter showers

Ahem! Please do not get angry on me for saying this but I am just helping you to save energy. I know it really feels relaxing, rejuvenating and soothing taking a long shower. But did you know that a typical shower head spits out an approx average of 2.5 gallons per minute. Reducing your shower time by 4 minutes per day may save 3650 gallons annually if you shower once a day. So just make your shower time shorter.

6. Let your Computer/Laptops hibernate

You knew that frogs and other amphibians are the only ones who can hibernate? Well think again. You can set your Computer/Laptops to Hibernate also. It is a power-saving state designed for Computer/Laptops. Hibernation puts your open documents and programs on your hard disk and then turns off your computer. Of all the power-saving states in Windows, hibernation uses the least amount of power. Put your computer to hibernate mode instead of using a screen saver so it uses less electricity during periods of inactivity. And the best part is Hibernation of your computer can reduce your electric bill too.

7. Unplug battery chargers

Once charging of your device is complete, unplug the charger from the device and electrical outlet when the batteries are fully charged or the chargers are not in use. Many chargers draw power continuously, even when the device is not plugged into the charger. As Cambridge professor David MacKay points out, that half a watt equates to saving one hot bath’s worth of energy every year if you unplug your charger when it’s not in use. You have heard it from the best so you know what to do now.

Since the ‘Sultry Summer’ has already arrived, it’s the best time to use our ‘Secret 7’ ways in to use.

MR Kamble appointed as Chairman of Karnataka RERA

Bengaluru

The Real Estate Regulatory Authority (RERA) of Karnataka has finally appointed M R Kamble, a retired IAS officer, as the chairman.

The authority that was notified on July 10, 2017 has seen four interim chiefs since inception.

Karnataka Real Estate Regulatory Authority constituted a 3-member team to appoint the chairman of the RERA authority apart from setting up a tribunal with a High Court judge as part of it. The housing department received nearly 60 applications for the top post.

The K-RERA has appointed the chairman and the prayers of home buyers have been listened. Hoping the RERA functions to bring desired relief to the homebuyers, ” said MS Shankar, secretary, Forum for People’s Collective Efforts.

However, the government is yet to notify model sales agreement as per central government rules and RERA appellate tribunal members. “The appellate tribunal appointment has been with held for now,” said Shankar.

“We had submitted request to the government to reconsider the transfer of RERA secretary K S Latha kumari for the smooth transition,” said Shankar.

The Karnataka government notified Karnataka Real Estate (Regulation and Development) Rules-2017 in the state gazette in July last year with the setting up of Karnataka RERA.

The law was passed by Parliament in March 2016 to address the woes of millions of homebuyers and to ensure better governance in a sector that was hitherto unregulated. According to the RERA registration, Maharashtra has the highest share of registered projects under RERA, followed by Uttar Pradesh, Gujarat, Karnataka and Madhya Pradesh.

Sources – www.realty.economictimes.indiatimes.com/news/regulatory/mr-kamble-appointed-as-chairman-of-karnataka-rera/68273238

Waterproofing at roof – can save wall closet

Detect Issues

Crack and peeling off laminate noted on wall closet.

Describe Issues

As seen by infrared images of both internal & external side of the affected area, flow of moisture noted from planter box at roof level. Roof Garden waterproofing system not found at planter box. If not rectified, moisture can spread in associated areas and further damage it & also laminate can be affected by termite.

Visual image

IR image

Roof Garden waterproofing system not found

Direct Solutions

We recommend installation of roof garden planter box waterproofing system.

RERA rules: 10 important facts to know

The government notified the final rules to implement the Real Estate (Regulation and Development) Act, 2016 (RERA) that aims to bring transparency and set accountability in the sector and help in completion of stalled projects. The rules will be applicable for five Union territories without legislature of Andaman & Nicobar Islands, Dadra & Nagar Haveli, Daman & Diu, Lakshadweep and Chandigarh.

Here are the key points you should know about:

  1. Pay Compensation: Developers will now be required to refund or pay compensation to the allottees for delay in projects with an interest rate of the State Bank of India’s highest marginal cost of lending rate plus 2% within 45 days of it becoming due. This would come to around 11% to 12%.
  2. Deposit Money: For the completion of ongoing projects, developers will have to deposit 70% of the amount collected and unused within three months of applying for registration of a project with the Real Estate Regulatory Authority in a separate bank account.
  3. Punishment: The rules also contain clauses providing for compounding of punishment with imprisonment for violation of the orders of Real Estate Appellate Tribunal against payment of 10% of project cost in case of developers and 10% of the cost of property purchased in case of allottees and agents.
  4. Sale of Properties: Discrimination in sale of properties on any grounds will also not be entertained under the new rules. Adjudicating Officers, Real Estate Authorities and Appellate Tribunals shall dispose of complaints within 60 days.
  5. Certification: In respect of the ongoing projects that have not received completion certificate in specified time, developers will have to make public the original sanctioned plans with specifications and changes made later, total amount collected from allottees, money used, original timeline for completion and the time period within which the developer undertakes to complete the project.
  6. Carpet Area: Promoter shall also declare size of the apartment based on carpet area even if it was earlier sold on any other basis.
  7. Registration: For registration of projects with the authorities, developers will be required to submit authenticated copy of PAN card, annual report comprising audited profit and loss account, balance sheet, cash flow statement and auditors report of the promoter for the immediate three preceding years, authenticated copy of legal title deed, copy of collaboration agreement if the promoter is not the owner of the plot. Promoter also has to declare information regarding the number of open and closed parking areas in the project.
  8. Income Tax Returns: The requirement of disclosing Income Tax returns proposed earlier has been withdrawn in the final Rules keeping in view the confidentiality attached with them and as pointed out by legal experts and promoters.
  9. Fee for Registration: To incentivize registration of projects and Real Estate Agents with Regulatory Authorities, fee for the same has been reduced by half based on suggestions from promoters for reduction of fee.
  10. Information about Details: To enable informed decisions by buyers, Real Estate Regulatory Authorities will ensure publication on their websites information relating to profile and track record of promoters, details of litigations, advertisement and prospectus issued about the project, details of apartments, plots and garages, registered agents and consultants, development plan, financial details of the promoters, status of approvals and projects etc.

Sources – www.realty.economictimes.indiatimes.com/slide-shows/rera-rules-10-things-to-know-about/55156347

Safety Hazard – Light point above gas stove provision

Detect Issues

One wall light provided above cook top gas stove provision.

Describe Issues

Light above gas stove position is unsafe as oil vapour from cooking will damage wire & fixture. If chimney is placed, light point will be unusbale. If not rectified at proper time, this can cause electrical & safety hazard for occupants.

Direct Solutions

We recommend to provide waterproof light fixture or changing the location of light before painting.

Size of Real Estate Market to grow to USD 650 billion by 2040: Niti Aayog

New Delhi

Indian real estate market is expected to jump over fivefold to USD 650 billion by 2040 and its share in the country’s gross domestic product (GDP) is set to double from the current seven per cent, Niti Aayog Vice-Chairman Rajiv Kumar said Friday.

“The government is committed not only to real estate sector but all aspects of it. The government is very conscious and cognisant of what happening in the sector and how it contributes to the economy,” he said while addressing a global luxury realty conclave organised by India Sotheby’s International Realty.

Kumar said the recent Interim Budget has demonstrated that the government would take steps to make sure that the real estate sector grow and develop further so that this industry contributes even more to the economy.

The Centre has offered a lot of tax incentives to developers building affordable houses and also tax sops to homebuyers looking to purchase second homes.

Highlighting the importance of this sector, the Niti Aayog vice-chairman said the real estate sector is contributing seven per cent to the country’s GDP and its share is expected to double by 2040.

The current size of the real estate market is already USD 120 billion dollar and this will grow to USD 650 billion by 2040, he said, adding that the industry employs 55 million people now and this number will rise to 66 million as it grows.

“This sector is heart of the economy. It has backward linkages with 200 other industries,” Kumar said.

He also said the real estate sector would contribute more with rapid urbanisation.

Kumar said the two legislations — the goods and services tax and the RERA — implemented by the government would help in organised growth of this sector.

He asked real estate companies to blend best of Indian culture and best of global facility and technologies in their future development of properties.

Speaking on the sidelines of the event, Embassy group President (Residential Business) Reeza Sebastian said there is a good demand for completed housing units in all categories including luxury homes.

Tata Housing Managing Director and Chief Executive Officer Sanjay Dutt said the demand for luxury houses is slow and this has given an opportunity to better our product portfolio in terms of design and other services.

Colliers International National Director Gagan Randev said: “Luxury real estate market has become much more discernible with a preference in most markets for gated communities offering a luxury lifestyle. Developers are differentiating their high end products and this has resulted in success of branded residence.”

Gaurs Group MD Manoj Gaur said the luxury housing is looking up and its demand is growing because of a growing number of high networth individual in the country.

Amit Goyal, CEO of India Sotheby’s International Realty, said this is the third edition of global luxury real estate conclave, which provides a platform where all the stakeholders come together to discuss the ever-changing luxury property market.

India Sotheby’s International Realty is part of the of US-based Sotheby’s International Realty, which operates a global network of over 22,000 affiliates with 970 offices across 72 countries, dealing in luxury real estate properties.

Sources – www.realty.economictimes.indiatimes.com/news/industry/size-of-real-estate-market-to-grow-to-usd-650-billion-by-2040-niti-aayog/68114021

Even door frames have specific hinges

Detect Issues

Wooden door hinges used in aluminium door frame.

Describe Issues

Due to usage of wooden door hinges in aluminium door frame, stability of frame will get reduced with air pressure. Hence frame will get loose and panel will rattle. Moreover aluminium doors are designed to move door both ways, but due to usage of wooden hinges it will be not able to move both ways. It can create problem for residents in future.

Direct Solutions

We recommend review and replacing with aluminium door hinges / floor spring.