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Government Plans to Develop Uppal Junction to Ease Traffic Congestion

08 Jul 2020 | 123 Views

To alleviate traffic congestion at Uppal junction, the civic body has decided to make improvements which would facilitate transportation from Uppal to Dilsukhnagar routes. Uppal Cross Road to Get New Lease of Look On Tuesday, Labour Minister Ch Malla Reddy and Mayor Bonthu Rammohan launched the embellishing works at Ambedkar Statue junction in Uppal crossroads, which were taken by GHMC at a cost of Rs 28 lakhs. GHMC is currently working on developing the junction at 15 different areas, from which work has been done at ten highways already. Adding to this they are also planning to do development works at Secunderabad Railway Station, Bhoiguda, Mallapur, Aramghar crossroads and KBR Park. Previously, the municipal officials inspected the proposed 150-feet road project with four lanes from Nagole Metro station, along the Musi Nala to Ali Cafe, Amberpet. The government is concentrating on improving road networks and providing people with basic facilities to make Hyderabad one of the world's best cities. In addition to laying 7.5 km of the new road along Musi Nala, container drain construction is also planned. Also, officials are directed to start planting bulk trees and to undertake other projects. The proposed 150 feet wide road will benefit the commuters from Uppal, Nagole going towards Amberpet, Moosarambagh and Dilsukhnagar. Thus the infrastructural development of the Government would give Uppal a new look and attract people to own property in Hyderabad. By: Shailaja K

Builders of Telangana Request 2 Percent Tax Reduction on Stamp Duty

Builders of Telangana Request 2% Tax Reduction on Stamp Duty

08 Jul 2020 | 104 Views

Real estate developers in Hyderabad have urged the state government to reduce stamp duty to 2% which would provide stimulus to home buying in the city. At present stamp duty in Telangana is 4% for property registration. The proposed for the reduction of 2% cut on stamp duty would encourage the construction industry and also promote affordable housing. The rebate in the stamp duty rate can bring down the transaction cost significantly. Government to Reduce Stamp Duty Charges Telangana Government responded positively to the requests from the real estate builders seeking relief measures like reduction of stamp duty on flat registrations and revival of the real estate sector in the wake of the ongoing COVID-19 crisis. It assured that the government would examine their requests and ensure all support to the sector. Stamp duty is an agreement or transaction paper between two or more parties, with the registrar. Usually, it is a fixed amount based on the nature of the document or is charged at some percentage of the contract value stated in the document. It is not uniform across states and varies for a different type of documents. For instance, in the case of property registration, stamp duty is charged on the transaction value or circle rate (minimum price of a property, as per the government), whichever is higher. The representatives of various real estate builders poured out their grievances, seeking the State government’s support to revive the industry in the wake of the ongoing COVID-19 pandemic. They have sought several relief measures including the extension of building permission validity without any additional fee, reduction in stamp duty by 2 percent, the release of final layout plans, rationalisation of parking for IT buildings and demarcation of master plan roads, etc. The government stamp duty reduction would encourage builders to improve property developments in this tough business environment. By: Shailaja K

Create work life balance within the home - Home office Tips

Tips to Create your Home Office

07 Jul 2020 | 110 Views

A place where creative ideas flow. A room where you can run your business, take your office calls during work from home days, have a quiet space to look into the bills and schedules. When you are planning to extend your office routines and tasks to your home, it is time to spruce the space and bring in some home office setup ideas. Create your “me” space away from the playful kids, chattering family members, and any disturbances. There must be many hundreds of blogs rolling out home office design ideas. However, ultimately you should pick and organize according to your taste and requirement. Here is a guide to clear your confusion. 1. Find the Location: There might be times when you have extended work hours, forcing you to bring it home; at that moment, you cannot just squeeze yourself with a table in a corner. At this time, picking up any corner and concentrating on your deliverable is not possible, which is why it is better to have a home office setup. The first point from the home office setup idea is to find the right location for your workspace, which is away from distractions and has enough space for proper seating. 2. The Right Position While creating your home office setup, it is imperative to position the desk and the entire workspace where there is natural light or something to glance upon or positioning of a chair facing the door. 3. Form and Function – The Must: While you are jotting your home office ideas ensure you make both form and function equally important. For instance, while you are creating your workspace, make sure all your belongings are in the same room. Pick up furniture that has compartments to store the stationery and office-related documents. Nothing other than the office stuff should be in the table drawers or the cabinets of the workspace. Similarly, the furniture in this room or space should be coordinated with your home décor and complement with the remaining rooms. 4. Ergonomics – Right Investment: We have seen many who sit at someplace in the room in an awkward position and do not adhere to the ergonomics while working – leading to many issues. While creating a specific home office design, invest in a good office chair, which is ergonomically correct, and has comfortable seating. Ideally, it is good to pick a chair that is comfortable to sit and a table that provides and accommodates the complete ergonomic position all through the working hours. 5. Bring in the Light One of the key things in home office designs is to ensure there is enough light in the office room. However, the light you should also make sure that there is no glare on the monitor either from the window or from any other light source. To accentuate the workspace look, you can add a small table lamp for a quick bill check or any other task. 6. Add Greenery It is a known fact! Greenery has its effect on people, creating that peaceful space and pleasant aura. So, bring in the outer space into your own by adding a few planters to your workstation or in the same room. Tending to the plants can give you a small and enjoyable break from work. 7. Tuck It – Don’t Show It Computer, laptop, printer, and phone, these electronics cannot be beautified. So, display your creativity by sprucing up the workplace at home by tucking up the cords using a fabric cord cover or feeding them into a desk grommet, getting your workstation closer to the outlets, and so on. Do not let your office at home spread with tangled wires, instead wind them with a wire organizer or cord winders. These home office ideas will give you the feel of your office while working from home.

Government Assures to Look into All Needs of Hyderabad Realty Builders

07 Jul 2020 | 135 Views

Municipal Administration Minister KT Rama Rao assured the developers in Hyderabad that the government will take all necessary steps to improve the real estate sector, which is one of the largest employment generating sector. The government was aware of challenges that were faced by developers during Covid-19 pandemic and planned to take supportive steps to protect builders as well as construction workers. Support Measures to Strengthen Real Estate Sector In a meeting with representatives of various developers and builders associations of the city, Minister KTR stated that the Hyderabad had been on the development path for the last six years and that the construction sector had contributed a great deal to this. Several measures have been taken by the government to develop Greater Hyderabad, and many contractors, as well as developers, have helped migrant workers during the Covid-19 crisis. Unlike other metros in the country, the situation in Hyderabad is still better and the impact on the various sectors is not distressing. The Telangana government is planning to use this opportunity in some sectors like a pharmacy. Telangana government is planned to take more supportive measures for the continued development of Hyderabad metropolitan region. It was committed to enforce the new Municipal Act strictly and warned that the action would be taken on builders for dumping trash in lakes and water bodies. The developer’s associations raised issues like easing of building & layout permits, master plans and cement rates. The assurance was given to builders that the government would consider their requests positively and discuss with cement manufacturers on prices. Also, discussions would be held with Telangana Mineral Development Corporation officials about the availability of sand and make sure for the sufficient availability for stocks of sand. The government special measures for supporting the builders would address the crisis in the real estate sector in Hyderabad and revive the industry to a certain extent. By: Shailaja K

HDFC Allows Restructuring of Real Estate Loans for Stuck Projects

07 Jul 2020 | 97 Views

Housing Development Finance Corporation Limited (HDFC Ltd.) Chairman Deepak Parekh has proposed a one-time restructuring for real estate loans to revive the sector and speed up the completion of halted projects. Proposal for Restructuring of Real Estate Loans The proposal made to shareholders in the mortgage financier's annual report for fiscal 2019-20, for the restructuring of loans, easing of external commercial borrowing rules and immediate changes to the regulations to allow the end-to-end execution of online housing loans. The RBI permit is needed for a one-time restructuring for real estate loans. This has been a long-standing request and a measure implemented in the past to revive the sector. Approving for a restructuring of these loans and categorising them as standard assets will facilitate last-mile funding for stalled projects of real estate developers. At this unprecedented time, a constructive process is required to tackle financial stress in the real estate sector without bail-out packages. Allowing the problems to grow will lead to a rise in non-performing loans, which, in turn, would weaken the overall financial industry. To improve the sector, the real estate prices should be made realistic to reflect current market realities, as this can help developers to unload their unsold inventory and improve their cash flow. At the same time, to provide the realignment of ready reckoner rates as well. The Reserve Bank of India (RBI) was admired for its stance on allowing interest to be charged on loans under moratorium. It has been at the forefront, shouldering a huge burden to maintain financial stability. The plan was developed for a level playing field among NBFCs and housing finance companies to raise funds through the External Commercial Borrowings (ECBs). At present, Housing finance companies can only raise ECBs under affordable housing, where the housing project must have at least 50 percent of the floor space index for housing units with a carpet area not exceeding 60 square metres. This concept is in accordance with the government's main goal of allowing more individuals to become homeowners. The government should enhance its budget promise to ease the ECB 's standards for housing finance companies. However, this one-time real estate loan restructuring would spark a hope that the stressed real estate sector will make a faster come-back. By: Shailaja K

10 Unauthorized Buildings in Madhapur Demolished by GHMC

03 Jul 2020 | 303 Views

To make the city grow in a planned manner, the Greater Hyderabad Municipal Corporation (GHMC) undertook a demolition drive to remove the unauthorized constructions in Hyderabad. The illegal constructions include additional floors, sheds, stairwells and other structures encroaching upon public land. The civic body acts against such encroachments on receiving complaints from the public as well as based on its own field inspections. Civic Body Demolition Drive at Madhapur Illegal Structures A total of ten illegal buildings were demolished at Ayyappa society in Madhapur on Wednesday by the GHMC officials. It has identified 25 unauthorized structures at Ayyapa Society. Of them, 25 illegal buildings are found in Gurukul Trust Lands at Chandanagar circle, and 21 have been razed this week. The work on the remaining structures would be done soon. A survey is started to recognize such illegal constructions in Ayyapa society. The GHMC had already led its demolition operation at this Society earlier, but the buildings will begin to reappear. The demolition process showed that, despite the Supreme Court's status quo order, squatters were constructing unauthorized residential properties. Although there are about 200 buildings in the area, only new structures have been demolished by the civic body. The action was not taken against those who approached the court. GHMC had already communicated to TSSPDCL (Telangana State Southern Power Distribution Company Limited) and HMWSSB (Hyderabad Metropolitan Water Supply and Sewerage Board) to cut the supply of electricity and water to this type of unregulated buildings. Also, GHMC officials from the town planning section advised people about these illegal constructions who are purchasing land in Gokul plots. The Greater Hyderabad Municipal Corporation Demolition Drive on illegal buildings would protect investors and residential property buyers from the risk of financial and physical damage. By: Shailaja K

Government Mulls to Adjust HMDA Layout Norms

03 Jul 2020 | 267 Views

The Telangana government is considering changes in norms for layout development in HMDA limits. Due to the recent COVID 19 pandemic HMDA's revenues falling rapidly, the municipal administration department mull tweaks in HMDA norms. The department to allow layouts with 40 feet widened road instead of 100 feet to the extent of less than 10 acres. HMDA finding ways and means to attract more applicants because revenue would fall again and the real estate sectors witness a slowdown. The total revenue used to be about Rs 600 crore per year with a monthly average of Rs 50 crore. Now, in the last two months, Rs 20 crore has fallen. It is likely to fall further in the coming months. Major HMDA revenue comes from building and layout permits and 10% from apartment rents and municipal park fees. While there has been an improvement in the construction activity with almost Rs 550 crore revenue, income from the layout permits has decreased. HMDA officials are still working on relaxations that need to be extended for layout permissions and looking for the best possible way to keep the future projects in mind. As the construction and real estate sector set to take some more time to recover. Modified HMDA Layout Norms As per the new building and layout guidelines, HMDA layouts should have a 30 or 40 feet road width in Hyderabad and nearby districts. But since last year, the HMDA has been insisting on a road width of 100 feet to allow layouts over 10 acres. As a result, several hundred layout files kept stacking up, and this has had an impact on layout development. Also led to the rapid expansion of illegal layouts in the surrounding districts of Hyderabad. As per the development permission management system, HMDA has received only 1,324 open layout applications in the last one-and-a-half years, of those 846 have been approved. Now in the current year 2020-21, there are just 100 applications for layouts and buildings. HMDA, which has undertaken projects such as the Balanagar flyover, has met its expenditure by auctioning its land, such as the Uppal Bhagat layout plots. But, because of the pandemic and its impact on the real estate sector, it is stopped in its tracks and can not press ahead with land auctions. In the last three months, the city Authority has been able to acquire a meagre Rs 1 crore. Revenues through layout permissions lowered to Rs 20 crore in 2019-20 from Rs 80 crore in 2018-19. However, with the modifications in HMDA layout norms would encourage people to adopt planned layout development which is expected to improve the real estate sector. By: Shailaja K

GHMC to Complete Stalled Civic Projects in Hyderabad

02 Jul 2020 | 189 Views

The Greater Hyderabad Municipal Corporation (GHMC) plans to execute major civic projects in Hyderabad which have been halted because of the COVID 19 pandemic. As until mid-June, many GHMC officials were focused to control the spread of Covid-19, now decided to concentrate on stalled civic projects. GHMC Focus to Resume Halted Civic Projects GHMC officials planning to restart major civic projects in Hyderabad. Apart from that Revenue generation activities, monsoon-related works, infrastructure development, road restoration and laying of new roads would be given the same importance. Prior to the second week of June, officials property tax department worked hard to prevent the virus from spreading. They have been asked to examine property tax defaulters, visit homes to collect taxes and evaluate unassessed properties as well over the last three days. The sanitary and town planning department was also instructed to restart visits to the field. Traders were notified that before June 30 they have to renew their trading license. Penalties will be imposed if they fail to do so. The department of entomology is also in the process of fighting transmitted diseases. Apart from containing the spread of the virus, they are working on fogging and anti-larval operations. The Online grievance redressal system is also improved. If any problems occur, people can communicate directly with HoDs and the GHMC commissioner via a video call from 4.00 to 5.00 pm. The GHMC drive to restart civic projects in Hyderabad would develop infrastructure and boost investments in the city which helps to revive the real estate sector. By: Shailaja K

Will Real Estate Prices Drop Amid COVID 19?

01 Jul 2020 | 268 Views

The real estate market is preferred as one of the best investments and capitalizations an individual can make. Experts said it offers relatively lower risks and offers greater scope for diversification. In uncertain times also it provides for an income stream. In the wake of the recent COVID 19 pandemic, the big question on every potential home buyer’s mind, especially in big cities that whether residential real estate prices would fall which could make a property more affordable. But, despite the near-constant demand, extensive inventories and series of reserve bank rate cuts, for buyers, real estate prices have remained out-of-bound. Price Analysis The nine major Indian residential markets that include Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata, MMR, Noida, Pune registered negligible price growth. While the price movements in cities like Hyderabad and Pune have not been significant upward or downward however a healthy appreciation has occurred over the years. In MMR, property prices which were already considerably higher than the national average, the price increase was slow but remained steady. The housing markets in the capital region and Chennai have undergone limited growth. As for the future, people who expect a decline in the medium to long term property prices may be disappointed. Because based on some factors, property values are likely to show an upward movement in the post-Corona pandemic. Government Measures Project delays are on the cards as a supply of building construction materials that India imports from China is stuck in the wake of the pandemic as housing projects which rely heavily on supplies of fixtures and furnishings from China. The time gap would not only delay housing projects but eventually also raise the overall costs of construction projects as builders would have to rely on alternatives to meet their construction demands. The centre’s ‘Make in India’ initiative might get a boost from this challenging situation in the medium to long term. Under such a case, dropping prices is difficult to answer. However, the Government could take steps that could make investing in property more profitable for buyers. Also expected that the Government would support the real estate sector, the second-largest employment generator in the country, by waiving off tax on unsold inventory. Also, the reduced repo rate of RBI to 4%, making house loan affordable for home buyers. As a result, the interest rate on home loans is now as low as 7.75%. This will allow buyers to invest in property at a cost advantage. Depending upon the duration of the current COVID 19 crisis, the prices may or may not seem to decrease as the holding cost of the developers will go up while the pressure to liquidate unsold inventory will rise. The extent of price change in the almost to medium term would be predictable. However, the Government by invoking special measures would handhold the sector in the times of crisis that create confidence in the minds of the buyers and boost real estate. By: Shailaja K

Hunger and Hopelessness Pushing Migrants Back To Cities

30 Jun 2020 | 159 Views

With the unexpected COVID 19 pandemic, both economic and emotional factors had prompted migrants to return villages where their families live. But in the immediate future, the hunger and hopelessness were again pushing them back to the cities in Gujarat, Maharashtra, Karnataka and Telangana. Hunger Driven Migrants Back to City During the coronavirus lockdown, hunger forced many migrant workers from their dream cities to languorous villages, which now pushing them thousands of miles away with vibrant life and activity. Many employers who had abandoned them are sending train and flight tickets to bring them back. As with the return of migrants factories get back their life, construction activity picks up, and the seed season would start. Express trains run to locations like Ahmedabad, Amritsar, Secundrabad and Bengaluru, from where these workers hurried back to the city. Several companies in the manufacturing, industrial goods and real estate sector have even chartered aircraft to bring back their skilled and semi-skilled employees. The migrants returning to cities would suggest that economic activity may return to normal in India sooner. Among the reasons many labourers were returning to work is the fact that the majority of poor households have low savings. Upon returning to their homes, in a couple of days, the savings have run out. The professional jobs or companies in cities, where these employees are working for several years, produce much higher wages than those in the villages. Fear of the loss of employment would also motivate many to return, particularly for those who have worked in a certain organization for many years. Although not all migrants can come back, they can be a significant number. The advantage is that the economy will return to normal much faster than expected. Employers can get employees and start companies. With the months of lockdown, many businesses and construction sectors have faced not only cash and demand constraints but also a labour shortage. This challenge will be solved as migrants come back. However, with the migrants returning to the city would pave the way for reforming economic activity and revive the real estate sector. By: Shailaja K

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