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अथॉरिटी ने 1 मार्च को शहर के विभिन्न हिस्सों में नौ कमर्शल प्लॉट की स्कीम घोषित की थी। इसके फ्लोर एरिया रेश्यो (एफएआर) को लेकर विवाद अब तक चल रहा है। हालांकि, अथॉरिटी ने प्लॉट खरीदने वालों को इस संशय को दूर करते हुए ब्रोशर के साथ पांच एफएआर को मंजूर करने वाले अफसरों के हस्ताक्षर वाला नक्शा भी साथ में संलग्न किया है। इस स्कीम की टेक्निकल बिड 22 मार्च को खुलेगी। सेक्टर 15 में मेट्रो स्टेशन के पास वाला प्लॉट कुल 25 हजार 300 वर्ग मीटर का है। यहां पांच एफएआर को मंजूरी दी गई है। कुल मिलाकर ग्राउंड कवरेज 50 फीसदी है यानी प्लॉट हासिल करने वाली कंपनी को लगभग सवा लाख वर्ग मीटर तक के कंस्ट्रक्शन की अनुमति होगी। अथॉरिटी ने 400 गाडि़यों की पार्किंग बनाकर इसे फ्री में अथॉरिटी को ट्रांसफर करने की शर्त जोड़कर मेट्रो पाकिर्ग की राह आसान कर दी।

गौरतलब है कि अभी तक इस प्लॉट में नोएडा अथॉरिटी का हेल्थ, इलेक्ट्रिक एंड मेंटिनेंस, हॉर्टिकल्चर और स्टोर आदि डिपार्टमेंट के ऑफिस थे। इनमें से ज्यादातर ऑफिस सेक्टर-39 स्थित बिल्डिंग में ट्रांसफर किए जा चुके हैं। अब इस प्लॉट के कुछ हिस्से में एक ट्रीटमेंट प्लांट बना हैं और दूसरी तरफ स्टोर है। यह स्टोर कहां जाएगा, यह अभी तय नहीं है। इतना जरूर साफ किया गया है कि अभी तक गुलमोहर मार्केट को मेन रोड से जोड़ने के दो रास्ते थे, अब यह मार्केट तीन मार्गों से डीएससी रोड से जुड़ जाएगी। मार्केट के पिछले हिस्से को सीधे पेट्रोल पंप के निकट से बनने वाली सड़क से जोड़ा जाएगा।

ब्रोशर में एक अन्य जानकारी यह भी दी गई है कि मेन डीएससी रोड और कमर्शल प्लॉट का साइट के बीच 15 मीटर चौड़ी एक सर्विस रोड भी बनेगी। इन सबके बीच एक धर्मकांटा घिर गया है। इस प्लॉट के बिक जाने के बाद धर्मकांटे का क्या होगा, यह अभी साफ नहीं हो पाया है। खास बात यह है कि सेक्टर 15 और 16 में रिजर्व प्राइस एक लाख 16 हजार रुपये प्रति वर्ग मीटर है मगर फ्री पार्किंग की शर्त सिर्फ सेक्टर 15 के प्लॉट पर ही लगाई गई है।

सोमवार को धरना स्थल पर जेपी ग्रुप के अधिकारी और प्रशासनिक अफसर पहुंचे। उन्होंने धरने पर बैठे किसानों से बातचीत की। वार्ता के दौरान अंडरपास बनाने पर सहमति बन गई। किसान नेता अजित दौला ने बताया कि जेपी ग्रुप ने अंडरपास बनवाने के लिए लिखित में आश्वासन दिया, इसके बाद धरना समाप्त करने की घोषणा कर दी गई।

The income ceilings of EWS and LIG are presently defined at Rs 3,300 per month per household and Rs 3,301-7,300 per month per household had been fixed on 2006 prices. These have now been revised to Rs 5,000 per month for EWS and Rs 5,001 to Rs 10,000 per month for LIG based on 2006 prices, the ministry of housing and poverty alleviation said today.

The move had been reported by The Indian Express three weeks ago. In order to account for the rise in per capita income, inflation and construction costs, the proposal to revise the income ceiling has been under consideration of this ministry.

“The revised income ceilings shall be applicable for definition of beneficiaries under government schemes for housing, including Interest Subsidy for Housing the Urban Poor Scheme (ISHUP), Basic Services for Urban Poor (BSUP)/ Integrated Housing & Slum Development Programme (IHSDP),” the housing ministry said.

The existing upper ceiling of Rs 3,300 per month for EWS and Rs 7,300 per month for LIG will continue to form the basis for calculation of affordability and subsidy.

Though pledging of shares is considered the last fund-raising avenue, several developers are taking the route, indicating their difficulty in raising finances, according to a report published in DNA.

Ravi Kiran Aggarwal and Pujit Aggarwal, promoters of Mumbai-based niche realtor Orbit Corp, have pledged 96.43 per cent and 35.26 per cent of their shares, respectively, as collateral to raise debt of Rs 100 crore. The value of the collateral works out to Rs 327 crore, thrice the amount raised as debt. The collateral (of 1.16 crore shares) has been pledged in three tranches, the report added.

Rama Shriya Yadav, chief financial officer, Orbit Corp, said, "We have raised some debt as we are actively looking for project acquisition in south Mumbai."

Pradeep Jain and family, the promoters of New Delhi-based Parsvnath Developers, have also pledged 84.88 per cent of their holdings, it said.

The company had failed to raise money through its qualified institutional placement (QIP) last year. It is looking at raising Rs 242 crore by the end of this month through private equity.

But pledging more shares makes availing funds from banks more difficult.

Source: Realty Plus Realtors back to share-pledging to raise funds

A salesman at a liquor vend in Raj Nagar, Ghaziabad, said: ‘‘This is the amount we are charging. We are not forcing you to buy liquor. You can go elsewhere. But, in UP you won’t get liquor cheaper anywhere else.’’

Since the state-run sugar federation took over the monopolistic sale of liquor from private individual licencees, overcharging has become the order of the day. Senior sugar federation officers were not available for comment. Ghaziabad excise department chief Harjit Singh said: ‘‘We have been getting complaints about overcharging. We have booked liquor vends under the Excise Act and recovered about Rs 30 lakh in fines. But little has changed. The excise department is helpless.”

Noida assistant commissioner of excise J Upadhyaya said fines were not a deterrent. ‘‘We cannot cancel the federation’s licence as we will be left with no liquor vends. The vendor has a monopoly in western UP,” he said. There have been unconfirmed reports that the same licencee is likely to be appointed to sell liquor in western UP in the next financial year.

Said Rajeev Talwar, executive director, DLF: "The equation which was there previously of acquiring more land banks have changed and all developers today are more focused on delivering projects."

Reality analysts also believe most of the top developers learnt their lesson that delivery is the most important aspect and the projects left incomplete during the slowdown need to be completed first.

"All the developers in north India acquired a lot of land during the pre-slowdown time and they did it across the country to construct hotels, commercial property, retail complexes and many more. But, as the slowdown came by, lots of the projects never started or were stopped mid way. This sent out a clear signal that there is no point in doing so many things at the same time and now most developers are consolidating on doing their ongoing projects, as they realise delivering them on time is the key," said Santosh Kumar, CEO Operations, Jones Lang LeSalle Meghraj.

The demand for land is now in smaller plots, in places where residential projects are doing well. "Developers are still looking for land in Gurgaon as there is lot of demand for residential projects, but the focus is on only buying land where one witnesses clear demand, rather than just increasing the land banks," added Kumar.

Source: Business-standard By Atanu Kumar DasRealty firms in north focus on clearing backlog

The GNIDA acquired land in Thiroda village in 2000. Farmers were given 80 per cent of the land compensation. But two dozen farmers have not yet been paid the remaining 20 per cent of the compensation amount. For 10 long years, the distressed farmers have been making trips to the office of the additional district magistrate (LA), but to no avail.

Last year, the hapless farmers moved the high court, which directed GNIDA to pay the balance compensation along with 15 per cent interest to the affected farmers. But since the farmers were not paid compensation within the set timeframe, they again approached the court.

Sachin Bhatti, secretary, Kisan Vikas Samiti, said in spite of court orders the farmers were not paid their dues, while the land in question had been taken over by GNIDA and allotted to some other organisations. This is injustice to farmers.

Meanwhile, sources in GNIDA say the authority has appealed against the decision of the high court.

This summer, get ready for the biggest reality pro- gramme ever to hit your TV screens--the Commonwealth Games talent-hunt show.

The organisers of the show- piece event, now just six months away, are in talks with TV chan- nels to produce a reality show based on a hunt to find the next sporting superstars hidden in the country's nooks and corners. The nationwide search will have most of the Olympic sports, mainly outdoor ones, and inv- olve teams from CGW organis- ers with local sports authorities to hold trials in your neighbour- hoods in four corners of the country.

"It will bring India's pres- ent champion athletes closer to the people. It will invite everyone to come and play.

And it will help identify the future talent," Suresh Kalmadi, chairman, CWG Organising Committee, said. This will not only fish out the unknown athletes but also turn the whole process --from trials to selections to finals--into a daily fix of reality TV, complete with behind-the-scenes drama.

Everyone can participate, irrespective of age and back- ground. Only the winners in each category will clear the var- ious selection levels.

"The Games will leave a lega- cy of the Olympic sports in a land of cricket and more crick- et," he said.

htreporters@hindustantimes.com

Source: Hindustan Times by Avishek G Dastidar & Sidhartha Roy Everyone's Invited : Games Get A Reality Twist, CWG Talent-Hunt Show To Find Nation's Future Sports Stars

With six months left to the Commonwealth Games, India Tourism Development Corporation (ITDC) has finally unveiled the 2,709 DDA flats that will be opened up to delegates and tourists alike in Vasant Kunj’s D-6 pocket. From the latest gadgets like LCD television screens, ACs and other household accoutrements to artefacts and handicrafts gracing each room, these Games flats promise to be a pan-India insight into the country’s art and heritage. Divided into five blocks named after rivers Sindhu, Ganga, Narmada, Brahmaputra and Kaveri each block will reflect a region in which the river flows. And to emphasize the heritage of that region, the flats in the block will house handicrafts, paintings and other works of art from the area.

That’s not all. While the furniture in the rooms has been sourced from China and Malaysia besides India, the design of the flats has been altered so as to give a world-class feel, said sources. Said a senior ITDC official, ‘‘DDA was asked to make several structural changes in the flat layout, so that the overall effect was pleasing besides being utilitarian.’’ As part of the changes, DDA has not only built lifts and put in intercom facilities in the blocks but also given plaster of Paris (POP) finish to all rooms, put in vitrified floor tiles, latest bathroom fittings and accessories, wardrobes with full length mirrors and the works.

‘‘The flats will be run like hotel rooms and will have a kettle and fridge for guests. For food, guests can avail the services of the three food courts which will also be run 24X7 by ITDC during the Games,’’ added the official.

Source: Times Of India By Rumu Banerjee 2,709 theme-based flats for CWG

A government official will be at your door with two forms -- and 50 questions, including on your family size, the kind of toilets you have, the kind of house you live in, if you have access to electricity, the assets you possess, your occupation and your educational qualifications.

After the forms are filled up, the official will collect your photo and fingerprint you.

Three government processes -- Census 2011, preparation of the national population register ( NPR) and issuing unique identification numbers -- have been amalgamated in this exercise. The census form has 35 questions, while the NPR form has 15.

While you may have to spend some time on the forms, the government will be spending close to Rs 8,000 crore on the exercise. This will ensure that the country's 1.2 billion residents are counted, identified and given a national identity card with a unique identification number on the lines of US's social security number.

Home minister P. Chidambaram termed it the biggest such exercise conducted since humankind came into existence.

As many as 24 crore households in 7,742 towns and 6.08 lakh villages will be covered to create a comprehensive identity database and strengthen the security of the country.

Source: Mail Today By Aman Sharma Mapping An Identity: The biggest headcount, Exercise Starts In Delhi From May 1

This week, a group of dedicated volunteers under the auspices of the Art of Living Foundation will make a humble beginning by launching a citizens’ movement for cleaning the river’s ghats. You can join them in an act of penance and exhort others to do so. The Commonwealth Games deadline was never achievable for this river that’s our lifeline. It will need faith and persistence to stay the course and ensure that the government gets all the support it needs in its endeavour to clean the river.

Click On Image For Large View

It has pinned its hope on the interceptor sewage system which will bring results by 2014. Hopefully, it will reduce the pollution load in the river and take us one step closer to keeping the river alive. In fact, till Wazirabad the point at which it enters Delhi the river is not in such a pathetic state. This is where it is diverted into two main canals which take its water to various treatment plants for supplying it to the city.

Having extracted whatever we could from the river, we mount a scandalous assault on it all through its 22-km journey across the Capital. Sewage and industrial effluents are dumped into the river by numerous drains that carry the city’s filth. According to Central Pollution Control Board (CPCB), Delhi is single-handedly responsible for about 70% of Yamuna’s pollution. The river suffers because on its banks is a large city with insufficient sewage treatment infrastructure, poor maintenance of existing treatment plants and sewage carrying channels and no fresh water for most part of the year.

The interceptor system is pending clearance with the cabinet and work can kick off earliest by July, say officials. It would take at least three years to complete it. Delhi, therefore, cannot expect a clean Yamuna till about 2014. Ramesh Negi, CEO, Delhi Jal Board (DJB) says this is the most viable solution to the sewage problems till the entire city is not connected via sewerage.

Source: Times Of India THERE’S HOPE FOR YAMUNA

डीएमआरसी के अफसरों ने बुधवार को नोएडा और ग्रेनो अथॉरिटी के अफसरों के साथ मीटिंग की। ग्रेनो अथॉरिटी के सीईओ मुकुल सिंहल ने डीपीआर सौंपे जाने की जानकारी दी। उन्होंने कहा कि अभी कुछ मसले शेष हैं, जिन पर दो-तीन मीटिंग के बाद फैसला ले लिया जाएगा। उसके बाद इस प्रोजेक्ट पर काम शुरू हो जाएगा। डीएमआरसी ने काम शुरू होने के बाद चार साल में प्रोजेक्ट पूरा करने का वादा किया है।

उन्होंने बताया कि डीपीआर के अनुसार ग्रेटर नोएडा के लिए मोनो रेल के बजाय मेट्रो ही चलाई जाएगी। 29 किलोमीटर लंबे इस रूट पर 22 स्टेशन होंगे। शुरुआत में 20 स्टेशन बनाने का फैसला लिया गया है। प्रोजेक्ट के सेकंड फेज में मेट्रो 130 मीटर रोड के किनारे से होती हुई नोएडा के सेक्टर-32 पर पहुंचकर एक कॉरिडोर बनाएगी। मीटिंग में इस बात पर भी चर्चा की गई है कि गेज स्टैंडर्ड हो या ब्रॉड। प्रोजेक्ट का खर्च किस तरह कम किया जाए। मेट्रो की आमदनी किस तरह बढ़ सकती है।

प्रॉपर्टी मार्केट में आई गिरावट का असर सरकारी खजाने पर पड़ते देख यूपी गवर्नमेंट ने अक्टूबर 2009 में एक आदेश पारित किया था। इसके मुताबिक नोएडा अथॉरिटी, ग्रेटर नोएडा अथॉरिटी और यमुना अथॉरिटी के वैसे आवंटी जिन्होंने प्लॉट आवंटन के 6 महीने बाद भी रजिस्ट्री नहीं कराई, उन्हें सर्कल रेट पर रजिस्ट्री करानी होगी। लेकिन ऐसे आवंटियों को फिर से राहत दी गई है। एडीएम फाइनैंस शिवाकांत द्विवेदी ने बताया कि ऐसे आवंटी अब 31 मार्च तक अथॉरिटी के अलॉटमेंट रेट पर ही रजिस्ट्री करा सकते हैं। इसके बाद सर्कल रेट लागू होंगे। माना जा रहा है कि इस आदेश से मार्च में स्टांप विभाग को मोटा राजस्व मिलेगा। गौरतलब है कि वित्तीय वर्ष 2009-10 में रजिस्ट्री कम होने से स्टांप विभाग की कमाई लक्ष्य से काफी कम हुई है। अब तक 600 करोड़ रुपये का राजस्व मिला है जबकि लक्ष्य 1000 करोड़ रुपये है।

सूत्रों ने बताया कि इस तरह के लगभग 150 आवेदन तो इंडस्ट्री डिपार्टमेंट में पेंडिंग हैं। इसी तरह की एक सूची इंस्टिट्यूशनल डिपार्टमेंट में पेंडिंग चल रही है। इंस्टिट्यूशनल से जुडे़ अफसरों का कहना है कि जो 10 पर्सेंट देकर ट्रांसफर करा रहा है इसे ट्रांसफर की इजाजत दी जा रही है मगर यह लीगल रूप से सही स्टेप नहीं है। सूत्रों का कहना है कि यह फाइल दो डिप्टी सीईओ के पास से होकर पहले सीईओ कम चेयरमैन के पास पहुंची। वहां से इसे फाइनैंस डिपार्टमेंट में भेज दिया गया। इसके बाद से यह फाइल डंप हो गई है।

क्या फंसा है पेच
नोएडा अथॉरिटी को इस छूट से संबंधित प्रस्ताव 29 दिसंबर 2009 को हुई बोर्ड बैठक में रखना चाहिए था लेकिन ऐसा नहीं हो पाया। तब से अथॉरिटी की कोई बोर्ड बैठक भी नहीं हुई है। बैठक होने के बाद ही इस बिंदु पर मुहर लगेगी। तब ही इन केसों को क्लियर किया जा सकता है।

आवंटियों की कटेगी जेब
मानव सेवा समिति के प्रेजिडेंट यू. के. भारद्वाज ने इस मामले को चेयरमैन कम सीईओ के सामने रखा है। उनका कहना है कि यदि 1 अप्रैल से पहले आवंटियों की समस्या का समाधान न हुआ तो रजिस्ट्री और लीज डीड पर 10 पसेर्ंट से लेकर 600 पर्सेंट तक का भार पड़ेगा। उदाहरण के रूप में अभी तक 3700 रुपये प्रति वर्ग मीटर की दर से आवंटित प्लॉट पर स्टांप 185 रुपये प्रति वर्ग मीटर की दर से लग रहा है। सर्कल रेट लागू होने पर यह दर बढ़कर 1100 रुपये रुपये प्रति वर्ग मीटर हो जाएगी।

क्या बोले अथॉरिटी अफसर
इस बारे में नोएडा अथॉरिटी के डिप्टी सीईओ सी. बी. सिंह का कहना है कि रेट तय करने का कार्य अंतिम चरण में है। इस पर जल्द ही फैसला होगा।

ग्रेटर नोएडा रोडवेज के एआरएम कपिल शर्मा ने बताया कि नोएडा के सेक्टर-37 तक सिटी बसें चलाने के लिए उन्होंने लोगों की राय ली है। अगर इस रूट पर कोई राय देना चाहता है तो वह उनके मोबाइल नंबर 9868394966 पर फोन कर सकता है।

उम्मीद है कि इस रूट पर खूब सवारियां मिलेंगी क्योंकि यहां इंडस्ट्रियल यूनिटें और कॉलेज हैं। यहां दिल्ली और नोएडा से भारी संख्या में लोग ड्यूटी करने आते हैं। नॉलेज पार्क में कई कॉलेजों को होने के कारण इसका रूट इस तरह से बनाया जाएगा कि छात्रों को इसका फायदा मिल सके। नोएडा के दूसरे मेट्रो स्टेशनों से भी सिटी बसों को जोड़ने की योजना है।

प्रमुख सचिव ने बताया कि 31 मार्च को वित्त वर्ष खत्म होने के बाद जीडीए के पास 703 करोड़ 72 लाख 87 हजार रुपये शेष रह जाएंगे। नए वित्त वर्ष के लिए 1215 करोड़ 54 लाख 50 हजार रुपये की आय का लक्ष्य रखा गया है। नए वित्त वर्ष में जीडीए 1742 करोड़ रुपये खर्च करेगा, उसके बाद भी 176 करोड़ 84 लाख 37 हजार रुपये बैलेंस रह जाएगा।

उन्होंने बताया कि मधुबन आवासीय योजना में ग्रुप हाउसिंग सोसायटियों के लिए एफएआर बढ़ाकर 2.75 कर दिया गया है। अभी तक एफएआर 2 था। ग्रुप हाउसिंग को बढ़ावा देने के लिए बिल्डरों को कुछ छूट दी गई है। आथिर्क मंदी के मद्देनजर छूट को आवश्यक माना गया है। इसके अलावा बैठक में बिल्डरों को कुछ अन्य छूट देने का फैसला किया गया है। अभी तक बिल्डरों को पांच साल में भूमि का पूरा पेमेंट देने के बाद ही कब्जा मिलता था। मगर अब सिर्फ 10 प्रतिशत एडवांस देकर ही बिल्डर कब्जा ले सकते हैं। बाकी रकम वह 6 साल में किस्तों में दे सकते हैं।

प्रमुख सचिव ने बताया कि गाजियाबाद के मास्टर प्लान को चार भागों में करके अलग-अलग जोनल प्लान बनवाया जाएगा। जोनल प्लान से लोगों को यह जानना आसान हो जाएगा कि किस जोन में कौन से विकास के कार्य होने हैं। इंदिरापुरम योजना में महागुन मेन्शन से शिप्रा मॉल तक जाने वाली सड़क का नाम शहीद कैप्टन देवेंद सिंह जस पर करने के फैसले पर बोर्ड ने अपनी मुहर लगा दी। वैशाली आवासीय योजना में अनंत एजुकेशन सोसायटी को और इंदिरापुरम में दशोहा एजूकेश्न सोसायटी को क्रमश: 2400 वर्ग मीटर और 2558 वर्ग मीटर भूमि का आवंटन किया गया है। वैसे स्कूलों के लिए 21 प्लाटों के लिए 70 प्रार्थना पत्र आए थे। बोर्ड बैठक में दो स्कूलों के लिए भूमि आवंटन के मामले ही रखे गए थे।

मधुबन-बापूधाम आवसीय योजना में जिन किसानों की जमीन का अधिग्रहण हुआ है उन्हें दी जाने वाली 6 प्रतिशत भूमि में 2 प्रतिशत कमर्शल भूमि देने और स्कीमों में 17 प्रतिशत का आरक्षण दिए जाने का प्रस्ताव शासन को भेज दिया गया है। एनएच-24 पर प्रकाश व्यवस्था को नगर निगम को ट्रांसफर करने के बाद 15 मीटर हाइट के एलिवेटर प्राधिकरण उपलब्ध कराएगा।

प्रमुख सचिव ने अधिकारियों को आदेश दिया है कि जिन स्कूलों को जीडीए अथवा किसी भी अथॉरिटी ने रियायती दरों पर भूमि का आवंटन किया है उन स्कूलों को अपनी बिल्डिंग के बाहर बोर्ड लगाकर यह दर्शाना होगा कि उनके यहां गरीब छात्रों के लिए क्या-क्या सुविधाएं दी जा रही है। यह आदेश नए और पुराने सभी स्कूलों के आवंटियों पर लागू होगा।

A bench comprising Justices Dalveer Bhandari and Mukundakam Sharma, while allowing the appeal of state of Haryana, noted `It may be pertinent to mention that in order to ensure that there is no evasion of stamp duty, circle rates are fixed from time to time and the notification is issued to that effect.

`The issuance of the said notification has become imperative to arrest the tendency of evading the payment of actual stamp duty.

`It is a matter of common knowledge that usually the circle rate or the collector rate is lower than the prevalent actual market rate but to ensure registration of sale deeds, at least at the circle rates or the collector rates, such notifications are issued from time to time by the appellants.' Justice Bhandari, speaking for the bench through his 17-page judgement further said, `It would have far reaching ramifications and consequences if the genuineness of the sale price entered into by the buyer and the seller cannot be questioned, then in majority of cases it is unlikely that the state would ever receive the stamp duty according to the circle rates or the collector rates. The approach of the High Court is totally unrealistic.' In the present case, Manoj Kumar had purchased a commercial plot measuring 788 square yards in Faridabad on November 10, 1999 and paid only Rs 31,000 as stamp duty by under-valuing the price of the plot at Rs 1, 95,000.

Faridabad District Collector, however, demanded the stamp duty of Rs 5,13,050 at the circle rate of the plot (i.e., Rs 4,200 per square yard) and the value of the property worked out to be Rs 33,09,600. Authorities told Manoj Kumar to pay the balance stamp duty of Rs 4, 82,050.

Source: www.indlawnews.com SC: No registration of property below govt circle rates

It is a bricks and mortar industry that caters to the local market. Yet it is so vast that it is creating untold riches. As people move to cities to build their careers, builders are fueling their aspirations for a dream home. The builders themselves have built their companies with successful initial public offerings and by attracting foreign investment. It's a good time to be in Indian real estate, with buoyant prices and never-ending demand.

Yet it is our contention that the industry, indeed the economy as a whole, is on some shaky ground.

First of all, the overall challenge India will face is in dealing with urbanization. We have clearly not been able to use urbanization as part of an inclusive and healthy economic growth strategy. In fact, we have been able to attain a commendable level of economic success despite failing urban infrastructure and services.

Today, even though only 30% of India's population lives in urban areas, cities contribute more than 60% of the country's GDP and account for 90% of government revenues. Urbanization is a key component of economic development. But, as reflected in the state of most Indian cities, little attention is given to their well-being and advancement. The dire and unbearable conditions of our cities are a result of slow and small-scale interventions to ever worsening conditions. They are a result of a complete lack of long-term strategic thinking.

Devita Saraf is the CEO of Vu Technologies; Prathima Manohar is president of The Urban Vision think tank in Mumbai.

Source: Wall Street Journal By DEVITA SARAF and PRATHIMA MANOHAR India's Real Estate Boom Is on Shaky Ground

The Noida Authority is developing a big parking lot opposite the Raddisson Hotel in Sector-18. The new parking lot on plot number L-2 will be ready by the end of this month.

This, along with the existing parking lot L-1, would be the only authorised parking space in the sector.

The decision has dismayed traders who feel their clientele might face inconvenience or sales might dip. They allege it to be a move for the benefit of rich groups.

"The Noida Authority had constructed a parking lot in front of Centre Stage Mall. The malls and hotels do not need parking lots. Ideally, they should have their own parking arrangements," said Kidar Bansal, president, Sector-18 Market Association.

"The parking lots are required for small shopkeepers who cannot have any parking space. Both the existing parking lot and the one coming up are far from the main shopping area in the sector. No shopper will be interested in parking his vehicle and then come to our shops. It will kill our business," said Yoginder Singh, executive member of the association.

District magistrate Deepak Agarwal has reportedly approved this decision in a meeting with officials of the department concerned. It will hike circle rates in Noida and Greater Noida by 20%. Besides, there is a possibility of a hike in circle rates for villages and rural areas.

To date, there are more than 9,000 properties which have not so far been registered in Greater Noida. These include 3,760 (agricultural sector), 2,806 (individual houses), 1,250 (group housing), 224 (industrial), 66 (institutional) 450 (builders) categories.

At present, circle rate in Noida ranges from Rs 18,000 to Rs 40,000. In Greater Noida, circle rates vary from Rs 14,000 to Rs 17,000. From April 1, the minimum circle rates in Noida will be Rs 20,000 while the maximum will be Rs 46,000.

In villages, circle rate at present are from Rs 8,000 to Rs 9,000. After the hike, it will be between Rs 9,000 and Rs 10,500

The district magistrate said a meeting in this connection has been held with the stamp and registry department. A decision to hike circle rate up to 20 per cent has been taken. The registry of property will be done as per the revised circle rates from April 1, the district magistrate said.