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All Stories67 Faridabad Unauthorised Colonies To Be RegularisedBy ugesh sarkar, Section Faridabad Real Estate Property
The people residing in unauthorised colonies have a reason to cheer as it was their long-pending demand.
The Municipal Corporation of Faridabad (MCF) on Tuesday passed a resolution for regularisation of 67 unauthorised colonies in Faridabad. The 35-member House met this afternoon and besides many other issues deliberated on the issue of unauthorised colonies. Amid the din, the resolution for regularisation of the 67 unauthorised colonies was passed with almost all the corporators describing it as "a landmark step for overall development of Faridabad". This was the second time such a resolution was passed. Last year, a resolution for regularisation of 77 unauthorised colonies was passed and sent to the state government for approval. But, officials said, the proposal was returned with a few objections, forcing the civic agency to conduct a new survey. The proposal for regularisation of 67 unauthorised colonies will now be forwarded to the state government through Gurgaon divisional commissioner for final approval. "Some unauthorised colonies form part of my ward, which I represent. The clearing of a regularisation proposal will certainly make life in these colonies worth living," said Rajinder Bamla, Corporator of Ward number four. Source: Hindustan Times 67 Faridabad Unauthorised Colonies To Be Regularised Extension Of Delhi Metro To YMCA Chowk ClearedBy yogisharma, Section Faridabad Real Estate Property
Decks have been cleared for the extension of Delhi Metro to YMCA Chowk, Faridabad as the Haryana Chief Minister, Mr Bhupinder Singh Hooda today approved the State Government's share of Rs 1,588.60 crore for Metro link to Faridabad.
A decision to this effect was taken in a meeting presided over by the Chief Minister here today. It was informed that the total cost of the project has been estimated as Rs 2,533 crore and the Central Government would bear an expenditure of Rs 544.40 crore. Mr Hooda said that the project is stipulated to be started in October 2010 and would be completed by March 31, 2013. The 13.875 kms long fully elevated Metro link from Badarpur line would have nine stations upto the YMCA Chowk, Faridabad. This would be an extension of the Central Secretariat-Badarpur line of Delhi Metro. Mr Hooda said that the project would ease traffic congestion and promote area of Faridabad in a big way. The State Government had earlier also got Metro to Gurgaon and this would be another landmark achieved by the Congress Government for the larger benefit of the people, he further added. The Principal Secretary to Chief Minister, Mr Chhatar Singh, Additional Principal Secretary to Chief Minister, Dr K.K. Khandelwal, Financial Commissioner and Principal Secretary, Town and Country Planning Department, Mr K.K. Jalan, Financial Commissioner and Principal Secretary, Finance Department, Mr Ajit M. Sharan and other senior officers of the State Government were present in the meeting. Haryana Government agreed to the proposal of Faridabad to connect with Metro Rai Source:www.indianews.org.in Extension of Delhi Metro to YMCA Chowk cleared Solar Heating System Must In Faridabad on The Houses Constructed On 500 sq yard And MoreBy Ni3, Section Faridabad Real Estate Property
The Haryana government has intensified campaign for maximum use of solar energy in Faridabad. The government has made it mandatory to set up solar water heating systems on the houses constructed on plots the size of 500 sq yard and more.
"Yes, we have made installation of solar water heating system on rooftop of the houses coming up on 500 square yard and more mandatory in Faridabad," said B.C. Sharma, project officer, Haryana Renewable Energy Department, Faridabad. He said the systems were also mandatory for multi-storey buildings, hospitals, hotels, institutes, tourist complexes, motels and some government buildings also. "The houses coming up on 500 square yard plot sizes will not get completion certificates if solar water heating systems are not installed," said Rattan Singh, sub divisional Engineer, HUDA Faridabad. He said the order received from chief administrator's office in Chandigarh in this connection would be strictly followed in the coming up new sectors in Faridabad. Meanwhile, Municipal Corporation of Faridabad is in the process of replacing about 33000 street lights by energy efficient lights. Source: Hindustan Times Solar Heating System Must In Faridabad Roads Identified For Legal Commercial UseBy Ni3, Section Faridabad Real Estate Property
The committee constituted to identify the roads in residential areas where commercial activities are carried out and are beyond redemption, has suggested 50 such roads in Faridabad and Ballabgarh. It has sent the recommendation to the state government for approval.
Conceding that commercialisation had become a necessary evil in some colonies in various districts of Haryana, the state government had agreed in principle to regularise shops and commercial establishments under various municipalities. ![]() For Faridabad, a committee was constituted under the chairmanship of Gurgaon Divisional Commissioner, T. K. Sharma, Commissioner, Municipal Corporation of Faridabad, Mehtab Singh Sehrawat, and Deputy Commissioner, Parveen Kumar. The criteria for selection was that the commercial establishments must be situated along the roads that are 12 m wide or more; 40 per cent of the road must be already commercial; 50 per cent area of the shop for which the change of land use (CLU) from residential to commercial is being sought must already be under commercial use. But it came with a rider that CLU will not be allowed in any of the government approved areas that come under the Haryana Urban Development Authority (HUDA), Haryana Housing Board, Town Planning Scheme and Haryana State Industrial and Infrastructure Development Corporation.
MCF sources said the roads that have been identified for commercial use fall in the New Industrial Township (NIT), approved colonies in NIT zone, Old Faridabad and Ballabgarh. "The basic idea is to do CLU against some conversion charges and provide better civic amenities, including parking facility, with that money in these markets," said an MCF official, who is not authorised to talk to the media. pandita_pk@rediffmail.com Source: Hindustan Times By Pawan Pandita Roads identified for legal commercial use Click On "Full Story" For More... (475 words in story) Full Story & Your Comments Municipal Corporation of Faridabad (MCF) Allows Floor-Wise RegistrationBy ugesh sarkar, Section Faridabad Real Estate Property
The state government has framed a policy for floor wise registration/transfer of hous- es in the municipal areas, there- by allowing house owners to sell only a part of their dwelling units.
Senior Town Planner, Municipal Corporation of Faridabad (MCF), S. C. Kush confirmed the order in respect of the new policy to include the colonies in New Industrial Township, Old Faridabad and Ballabgarh falling under the municipal juris- diction. The applicants will pay one per cent extra over and above the stamp duty for registration of a floor. This extra duty will go to the local body, MCF in the case of Faridabad. Thousands of house owners and people keen to own a dw- elling unit in these areas will benefit. "I have been living on the first floor in Neighbourhood- 5 for the last five years. But I cannot afford to buy a house here. However, if a floor is on sale and registered in my name, I can think of settling down here," said Harish Mishra, an officer in a factory. pandita_pk@rediffmail.com Source: Hindustan Times By Pawan Pandita MCF allows floor-wise registration Click On "Full Story" For More... (367 words in story) Full Story & Your Comments Faridabad To Get Mega Industrial TownshipBy ugesh sarkar, Section Faridabad Real Estate Property
In Industrial Model Township (IMT) is slated to become a reality in Faridabad soon. Coming up on 1,800 acres of land near Ballabgarh, work on this project is likely to begin next month.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), which has acquired land for this purpose has entrusted the task of develop- ing it to a Hyderabad-based infrastructure company -- Ramky Infrastructure. "Work on infrastructure development on the IMT will start soon," Bhagmal, General Manager, HSIIDC, Faridabad said, adding that HSIIDC has issued a letter of acceptance to Ramky Infrastructure. The HSIIDC acquired about 1832 acres of land in villages like Chandawli, Machgar, Nawadah, Sutai and Mujedi for the purpose. "Infrastructure development will take three to four months, after which plot- ting will be done," Arora said. The minimum industrial plot will be 450 square metres and the maximum could be 10 acres. prabhu.razdan@hindustantimes.com Source: Hindustan Times By Prabhu Razdan Faridabad To Get Mega Industrial Township (163 words in story) Full Story & Your Comments Draw Of 2000 Faridabad Plots On June 21By ugesh sarkar, Section Faridabad Real Estate Property
The wait is finally over for more than 2.50 lakh people who had applied for res- idential plots in Faridabad about six months ago. The Haryana government has decided to hold the draw of the residential plots on June 21.
"We have decided to hold draw of various residential plots at Faridabad and Palwal on June 21 at sports stadium in Sector 12, Faridabad", Arvind Malhan, Estates Officer, Haryana Urban Development Authority (HUDA), Faridabad told HT on Tuesday. Haryana Government had announced invitations for allot- ment of 2000 residential plots in Faridabad on Haryana Day i.e on November 1, 2009. Though HUDA had invited application for allotment of residential plots in 16 town- ships of Haryana, Faridabad topped the list with about 2000 residential plots announced for allotment. The scheme commenced on November, 06, 2009 and the bookings ended on 5th of January, 2010. The list of the applicants has been put on HUDA's offi- cial website www.huda.gov.in. The highest rate per square metre was in Sector 56 and 56 A where the price had been fixed at Rs 10,763 in 1 kanal (traditional unit of land, roughly .125 acres) category followed by Rs 9,900 in 1 kanal, 14 marla (20 marlas make a kanal) and 10 marla categories in Sector 2. The lowest rate is Rs 5,580 per square metre for six marla category in Sector 64. prabhu.razdan@hindustantimes.com Source: Hindustan Times By rabhu Razdan Draw Of 2000 Faridabad Plots On June 21 (1 comment) Your Comments >> Shops In Residential Areas To Be RegularisedBy ugesh sarkar, Section Faridabad Real Estate Property ![]() Shopkeepers running their business in residential areas had been facing the threat of sealing forlong.Theshopssituatedalong the road dividing Sectors 7 and 10 were sealed and desealed a couple of years back in the abse- nce of a clear-cut policy. Urban Local Bodies Minister Mahender Pratap said the gov- ernment has agreed in principle to regularise commercial establishments in residential areas and a final shape is being given to the policy in the matter. It will be implemented soon, he added. Asperanestimate,over25,000 shops are running in residential areas in the three zones, New Industrial Township, Old Farida- bad and Ballabgarh, under the municipal jurisdiction. Source: Hindustan Times Shops in residential areas to be regularised Click On "Full Story" For More... (345 words in story) Full Story & Your Comments Faridabad To Get 7 Flyovers, Delhi-Agra Stretch Of NH-2 To Be Widened From 4 To 6 LanesBy simi, Section Faridabad Real Estate Property After Gurgaon,its now the turn of Faridabad to get a series of flyovers on the National Highway which runs along the city.Flyovers will be built across all the major seven crossings between Delhiborder and Ballabhgarh. The project is part of the widening of Delhi-Agra stretch of NH-2,which will be expanded from the present four to six lanes.This will be the next round of massive road development work in Faridabad undertaken by the National Highways Authority of India (NHAI).The agency is presently constructing an elevated corridor to make the Delhi-Badarpur junction signal-free.Its likely to be completed before the Commonwealth Games. As per the widening plan,six-lane flyovers would be constructed at NHPC Chowk,Badkhal Lake,Old Faridabad Chowk,Ajronda Chowk,HUDA Residency,HSIIDC Chowk and Bata Chowk in Faridabad.At present,these intersections witness major snarls during peak hours and during night due to heavy movement of trucks on the highway.While the construction of flyovers would ensure non-stop movement for traffic heading towards Agra,it will also reduce the waiting time for vehicles heading towards different sectors of Faridabad. The NHAI is going to award the widening of the 180km stretch between Delhi and Agra soon.Reliance Infrastructure has emerged as the preferred bidder for this project. The next round of NHAI board meeting is likely to clear the awarding of the project and then the process will start, a senior official said. The urbanized stretch will also get both subways and foot over bridges (FOB) for safe passage of pedestrians. Enough provision for safe passage of pedestrians has been included as a part of the project to ensure that here we dont face a Gurgaon-like situation many pedestrians have been killed while trying to cross the expressway, said a senior NHAI official.
Once completed,the total travel time on this stretch will reduce drastically,though commuters will have to pay toll for each km they travel on this corridor.NHAI officials claim that after the completion of the project,it would take not more than two hours to cover the distance between Delhi and Agra as the maximum design speed on this The BOT project takes off from Delhi-Faridabad border,and goes through Agra and Mathura districts in UP and Faridabad in Haryana. Source: groups.google.com By Dipak Kumar Dash Delhi-Agra Stretch Of NH-2 To Be Widened From 4 To 6 Lanes Houses For Slum Dwellers, Finally, Funds Release For The Rehabilitation In FaridabadBy akansha, Section Faridabad Real Estate Property
The Centre has finally agreed to release the last tranche of its share of funds for the construction of houses for the rehabilitation of slumdwellers in Faridabad under the Jawaharalal Nehru National Urban Renewal Mission.
The houses are being constructed under two projects, one in Bapu Nagar and the other in Dabua colony. Nearly 90 per cent of the construction work on these projects has been completed. Work had to be stopped a few months ago as the Centre declined to release its share of funds due to lapses on the part of the Municipal Corporation of Faridabad (MCF). The Union Ministry of Housing and Urban Poverty Alleviation agreed to release the funds at a meeting with officials of the Haryana government and the MCF in Delhi recently. As per the plan, 50 per cent of the project cost was to be borne by the Centre. The state government was to bear 20 per cent and the MCF had to share 30 per cent of the cost burden. However, the MCF got into a financial crisis and allegedly failed to meet its obligation for several months. The cost of the project is about Rs 64 crore. The last tranche of the Central government is Rs 8 crore. According to Commissioner of the MCF Mahtab Singh Sehrawat, the possession of the dwelling units would be given to the intended beneficiaries within three months. Source: tribuneindia.com By Ravi S Singh Houses For Slum dwellers Delhi Mtero.......Faridabad Ab Door Nahin....By ugesh sarkar, Section Faridabad Real Estate Property
मेट्रो के फरीदाबाद पहुंचने का रास्ता जल्द ही साफ होने की उम्मीद है। केंद्र सरकार के दखल के बाद अब फरीदाबाद तक जाने वाली मेट्रो की राह में आ रही अड़चनों को सुलझाने का काम शुरू हो गया है। दिल्ली मेट्रो भी चाहती है कि अगर उसे मंजूरी मिलती है तो वह कॉमनवेल्थ गेम्स के बाद इस लाइन पर निर्माण कार्य शुरू करना चाहती है। लेकिन दिल्ली सरकार का कहना है कि पहले यह साफ होना चाहिए कि अगर भविष्य में कभी भी फरीदाबाद लाइन पर मेट्रो को घाटा होता है तो उसकी भरपाई कैसे होगी। अब केंद्र सरकार ने कहा है कि वह इस समस्या का रास्ता निकालने की कोशिश करेगा।
उधर, दिल्ली मेट्रो से भी कहा गया है कि वह ऐसा फॉर्म्युला तैयार करे कि अगर घाटा हो तो उसका पता लगाया जा सके कि यह घाटा हरियाणा एरिया की वजह से हुआ या दिल्ली एरिया की वजह से ताकि उसी राज्य से उसकी भरपाई की जा सके।
पानी और मेट्रो
केंद्र ने बुलाई बैठक
ताइवान मेट्रो फॉर्म्युला
कैबिनेट नोट पेंडिंग Source: Navbharat Times दिल्ली मेट्रो...फरीदाबाद ; अब दूर नहीं RPS Group's False Claim of Green; Has Sold land in RPS Savana to KR Mangalam SchoolBy Savana, Section Faridabad Real Estate Property
Hi,
RPS Savana will not have the 85:15 (green:concrete) ratio anymore as the most of the green areas promised and advertised in brochures earlier have been allocated to schools and a dispensary. The main green area near the entrance which was earlier marked as a Theme Park, 5 acres has been allocated to KR Mangalam World School for a high school and 1.25 acres has been allocated to a Dispensary. The 2 green areas between Bluebeech and Bayberry towers have been allocated to primary schools. When enquired about the change of plan from the initial advertised master layout without intimating the Savana owners, they said as per DTCP (Directorate of Town & Country Planning Haryana) schools and dispensary falls under basic amenities which need to be provided by RPS to have the master plan approved by the authority. RPS has also sold another tract of land within Savana earlier shown as badminton, tennis courts, as commercial land. They said they are not liable to inform any Savana allotees in any change of plan to the master layout. RPS Group still falsely claims on their website about 85% green and 15% green ratio in RPS Savana. Moreover RPS Group is promoting and advertising RPS Palms on the basis of RPS Savana, all the proposed facilities of RPS Palms will be shared with RPS Savana. In RPS Savana, as per RPS Group paying for a PLC does not guarantee you a park or lawn facing apartemnt, its only the open space between apartment the proposed lawn or park. RPS Group will also not be able to provide electricity, water and sewerage supply from goverment authorities to the Savana township. Even after 4 years since the launch of project, RPS Group has no clue if goverment will be able to provide basic amenities to the Savana residents, they suggested setting up own infrastructure in RPS Savana for electricity, water,etc, the cost of which will have to be borne by customers. This is being debated on the forum http://www.rps-savana.co.in/forum/index.php (2 comments) Your Comments >> Two Hotels Coming Up In Faridabad For The Commonwealth GamesBy ugesh sarkar, Section Faridabad Real Estate Property
While Haryana Tourism may still be thinking of expanding its resorts in Faridabad to accommodate guests during the Commonwealth Games, two private enterprises are coming up with a four-star and a three- star hotel in the city.
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In view of the Commonwealth Games, Haryana Urban Devel- opment Authority (HUDA) had proposed six hotel sites a cou- ple of years back. However, only two of them could be auctioned.
Senior officials of Haryana Tourism had visited Surajkund early this year to work out the possibility of making makeshift rooms for the Games instead of raising permanent structures. However, a four-star hotel, Tapasya Hotel and Resorts Ltd (THRL) is coming up in Sector 21C. THRL Deputy General Ma- nager Pawan Sharma said near- ly 80 per cent of the construc- tion work is over and the hotel will be opened in the first week of July. He said the six-storied hotel has three levels in the basement as well. The hotel has ample space for parking vehicles in the basement as well outside the building in the hotel com- plex, added Sharma. He said the hotel would also have a swim- ming pool and spa for guests. A three star hotel, `K' Hotel, is ready for opening in Sector 31. `K' Hotel Director R. K. Bansal said that his hotel is all set to receive the guests for the Commonwealth Games. "We are ahead of schedule. We are in touch with senior officials of Haryana Government who are coordinating the arrangements to be made for the Games guests in Faridabad," he said. pandita_pk@rediffmail.com Source: Hindustan Times By Pawan Pandita Two Hotels Coming Up In Faridabad For The Commonwealth Games House Owners Will Have To Start Paying Tax In FaridabadBy Addie, Section Faridabad Real Estate Property
The tax holiday for house own- rs in the city is likely to get over oon. The state government has onstituted a committee in this egard that will soon submit its eport. Residents who have been vailing of the facility of non- payment of house tax will have o start paying it again soon.
The state government annou- nced waiver of house tax to those who are living in self-occupied houses and have not rented out ny portion of it from April 1, 008. Such house owners did not ayanyhousetaxtotheMunicipal Corporation of Faridabad (MCF) or the financial years 2008-2009 nd 2009-2010. It reduced the ncome of the municipal body onsiderably. However, the reason for the esumption of payment of house ax is not the poor income of he municipal corporation. The entre-sponsored Jawaharlal Nehru National Urban Renewal Mission (JNNURM) envisages eneration of resources by the municipal body. Faridabad is he only city in Haryana to have been chosen under JNNURM. MCF has prepared the city evelopment plan worth Rs 2,204 rore for the civic turnaround fthecity.Withsubstantialreduc- ion in income on account of house tax being waived off, the tate government is contem- plating having more funds that would provide the matching grant to be given by the MCF. pandita_pk@rediffmail.com Source: Hindustan Times By Pawan Pandita House Owners Will Have To Start Paying Tax Click On "Full Story" For More... (384 words in story) Full Story & Your Comments Gurgaon Nagar Nigam Se Faridabad Nagar Nigam Ko 6 Crore Milenge...By Addie, Section Faridabad Real Estate Property
गुड़गांव नगर निगम से फरीदाबाद नगर निगम को आगामी गुरुवार और शुक्रवार को छह करोड़ तीस लाख रुपये उधार मिलने वाले हैं।
प्रदेश सरकार ने गुड़गांव नगर निगम को फरीदाबाद के विकास के लिए 100 करोड़ रुपये लोन देने का निर्देश दिया है। गुड़गांव नगर निगम की तरफ से अभी तक फरीदाबाद निगम प्रशासन को 45 करोड़ रुपये मिल चुके हैं। प्रदेश सरकार ने गुरुवार को तीन करोड़ साठ लाख रुपये देने की तारीख तय की है। इसके अलावा शुक्रवार को दो करोड़ सत्तर लाख रुपये निगम को मिलेंगे। 45 करोड़ रुपये में 18 करोड़ रुपये सीवरेज व्यवस्था में खर्च किए जाएंगे, जबकि 35 लाख रुपये स्ट्रीट लाइटों पर खर्च होंगे। इनके अलावा गौंछी नाले का काम भी पूरा किया जाएगा। Source: Navbharat Times गुड़गांव नगर निगम से छह करोड़ मिलेंगे Property Rates In Faridabad Up By 25 PercentBy ugesh sarkar, Section Faridabad Real Estate Property
Buying property in Faridabad has become costlier.
The district administration has hiked the circle rates up to 25 percent. The new rates have come into force from April 1. "We could not hike circle rates in the recession period and now as the market has sta- bilised, we thought circle rates should be revised upwards," Praveen Kumar, Faridabad deputy commissioner said. He added, "Every effort has been made to ensure that the hike should not pinch the com- mon man." The new circle rates in com- mercial areas in Eros, Charmwood, Greenfield Colony, Inderprastha Colony, Springfield Colony, Itmadpur, Kant Enclave, Ashoka Enclave have been fixed at Rs 31,250 square yard. There has been a consider- able rise in circle rates in R- Zone area, which mostly falls across Nehar, popularly called Neharpar. Circle rates have gone up from Rs 48 to 50 lakh per acre to Rs 55 lakh per acre. In the industrial segment, Mathura road area is costlier.Rs 4 crore per acre has been fixed as new circle rate in Sector 30-31, close to Mathura road. In other places on Mathura road, over Rs 3 crore per acre has been fixed as new circle rate. prabhu.razdan@hindustantimes.com Source: Hindustan Times By Prabhu Razdan Property Rates In Faridabad Up By 25 Percent Faridabad Municipal Corporation Prepares 25-cr Facelift PlanBy ugesh sarkar, Section Faridabad Real Estate Property
The Municipal Corporation of Faridabad (MCF) has proposed to give a new lease of life to a big nullah which passes through the district before it merges with the Yamuna, said Mahtab Singh Sehrawat, commissioner of the civic body.
While speaking at an interactive session with the industrialists organised by the Faridabad Industries Association (FIA) recently, Sehrawat revealed that the MCF had sent a Rs 25-crore proposal to the government for first phase of the project. The nullah, which was once a virtue for this industrialised city, has now become its bane. It once acted as a natural drainage system for the city. Now, it is full of sewage and plagued with high pollution. Also, at umpteen places people have encroached upon its areas on both sides. The nullah has become shallow on account of large amount of garbage and non-biodegradable waste being constantly dumped into it. For most part of the year, it remains choked and instead of acting as natural drainage system, the water from it now backflows in various parts of the city during the rainy season. Source: The Tribune By Ravi S. Singh Faridabad MC prepares 25-cr facelift plan Click On "Full Story" For More... (368 words in story) Full Story & Your Comments Facelift Of Faridabad's Biggest Nullah PlannedBy ugesh sarkar, Section Faridabad Real Estate Property
The Municipal Corporation of Faridabad (MCF) has proposed to give a facelift to the biggest nullah here that passes through a long stretch of land before flowing into Yamuna river. The announcement regarding this was today made by the commissioner of the civic body, Mahtab Singh Sehrawat.
Speaking at an interactive session with industrialists organised by the Faridabad Industries Association (FIA), Sehrawat revealed that the MCF has sent a Rs 25-crore proposal to the state government for the first phase of the proposed facelift of the nullah. The nullah, which was once a virtue for this industrialised city, has now emerged as a major bane. It once acted as a natural drainage system for the city. However, now it is full of sewage and plagued with highly polluted water. Also, at umpteen places people have encroached upon the areas on both sides of the banks. The bed of the nullah has become shallow on account of a large amount of garbage and ecologically dangerous non-biodegradable waste being constantly dumped there. Source: The Tribune By Ravi S. Singh Facelift of Faridabad's biggest nullah planned Click On "Full Story" For More... (346 words in story) Full Story & Your Comments In Kolkata, Property Prices See The Fastest Rise, Move 16.8% UpBy akansha, Section Faridabad Real Estate Property
Property values in Kolkata have risen at the fastest pace among Indian metros since 2007, according to the National Housing Bank's (NHB) Residex--an index of property prices.
Property values in Kolkata rose by an average of 16.8% while those in Bangalore fell by 15.6% in the period. Fewer speculative deals and lower base prices saw the eastern Indian metropolis outpace hotter property markets such as Mumbai and Delhi, where property values rose at a comparatively sedate average of 7.5% and 7.3%, respectively.
![]() The NHB residex, which was launched in July 2007, measures property prices in six-monthly intervals. The index currently captures data submitted by a variety of sources, including housing finance companies and real estate agents, for 15 cities, with plans to widen the index to 63 so-called tier I cities and state capitals in the future. Of the 15 cities, only the West Bengal capital Kolkata, Faridabad in the national capital region, and Bhopal in Madhya Pradesh saw average double-digit growth in this period.
Jaipur saw prices rise 19% (over 2007 levels) in the January-June 2008 reporting period. Prices fell 3.4% in the six months between July and December and declined another 38.3% in the first six months of January. Analysts, however, said high prices in some of the smaller cities could be a combination of low starting prices and low supply leading to higher price growth. "The base is very low, so when prices in these cities move even slightly it seems like a big increase. While in Mumbai even if prices shoot up, the increase is not so much because of the high base," said Anshuman Magazine, managing director of real estate consultant CB Richard Ellis. Source: livemint.com In Kolkata, property prices see the fastest rise, move 16.8% up Click On "Full Story" For More.... (569 words in story) Full Story & Your Comments Faridabad Municipal Body Demolishes Illegal ExtensionsBy akansha, Section Faridabad Real Estate Property ![]() On Day 1, boundary walls of farmhouses, banquet halls razed The Municipal Corporation of Faridabad and the district administration carried out a demolition drive of unauthorised construction and encroachments along Surajkund Road in Faridabad on Saturday. It was the first day of extensive action against illegal buildings in the stretch between the shooting range and the Gymkhana Club in Sector 21. The civic body brought down boundary walls of 16 banquet halls and farmhouses. The owners had either built their property without seeking the change of land use (CLUs) or had encroached upon civic body land on both sides of the road, officials said. "This is lawful action which we have initiated against defaulters," said Municipal Commissioner Mehtab Singh Sehrawat. On Saturday, the civic body brought down six temporary shops and completely demolished two banquet halls. The owner of Eden Garden, where a boundary wall was brought down, cried foul. The owner, Sanjeev Malhotra, said, "I have all the sanctions and approvals in place. The action of the civic body was uncalled for. We may lodge a complaint against the officials who carried out the demolition drive without prior verification," said Malhotra. On their part, civic body officials said the wall was adjacent to an illegal building which was demolished. The owner should have brought the issue to their notice. Though the civic body tried to ensure that the demolition was a low-key affair and began their drive very early, several owners showed stay orders which prevented the officials from carrying out the operation as planned and had to wind it up by 1 pm. Source: The Indian Express Faridabad municipal body demolishes illegal extensions
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