Why does everybody love to hate the Indian real estate sector?

http://m.indiatvnews.com/business/india/why-does-everybody-love-to-hate-the-indian-real-estate-sector--15644.html

  Why does everybody love to hate the Indian real estate sector?
New Delhi: Over the years, Indian real estate has been a seemingly limitless source of negative hype. Scams, controversies, rumblings about delayed projects, agitations by consumers and debates about the over/under-regulation of the real estate sector have all provided ready cannon fodder for countless publications, internet forums and assorted activists. In fact, the real estate sector has drawn more media flak and outrage than any other industry in India.

This tempts the question – why is Indian real estate a sector that everyone loves to hate? It is a valid question, and one that many corporate heads, industrialists and big-ticket investors have asked me during my business travels abroad. The question – or variants of it - is sometimes asked in an amused and otherwise unconcerned manner, but more often with real interest tinged with worry. After all, almost everyone with a healthy investor instinct has or intends to have a piece of the massive Indian growth story, and any kind of participation in it invariably involves real estate.

There is no easy answer to this question, which is in any case a rather unfair one to begin with. Nevertheless, the generalized negativity about the Indian real estate sector that has been created in the public mind is a reality.

I usually counter the question with another question – “What have you read or heard about it that makes you think so?” My intention is not to be evasive, but to understand whether the question comes from a real understanding of the Indian real estate industry and its complexities, or whether it just a knee-jerk reaction to yet another hyped-up media report. Very often, the questioner is genuinely informed and has been following media stories about the sector quite closely, but no longer knows what to believe.

This is understandable, and I invariably ask my questioners if they have enough time for a detailed answer. After all, this confusion is the result of a war of opinion that has been waged against the Indian real estate sector for quite a while. The controversy is made even more complex by the fact that it is being actively encouraged by people who have no interest in presenting a more realistic picture of the Indian real estate industry.

What lies beneath

Real estate is something that lives and breathes at the very core of every Indian’s being, not least of all because it is considered the most important manifestation of success, wealth and power. Unfortunately, the fact that real estate transmits such signals in India has made it an object of not only admiration and desire, but also of something close to fear. While fear is invariably the result of a lack of understanding, it is nonetheless a very real force on the ground.

Naturally, any environment involving fear also needs villains. It is almost axiomatic that Indian real estate developers are the designated ‘bad guys’ – the greedy perpetrators of crimes against the helpless common man, wielding their wealth and political clout with impunity, with the sole intention of turning a profit and furthering their own agenda.

Such a stage-setting lends itself rather well to a protracted public drama involving the tantalizing element of good battling evil; of victims versus perpetrators. The epic battle of the Mahabharata, as it were, translated into present-day brick and mortar. Such a drama is readily absorbed by Indians almost by default, but is more damaging is the fact that it is also exotically interesting to foreign palates.

Market watchers in countries that India has or is seeking to have economic ties cannot but notice the bad press that Indian real estate is getting. This is how the unfair and wildly inaccurate blacks and whites of the Indian condition as depicted by ‘Slumdog Millionaire’, become superimposed on an industry which is - if fact be told - the backbone of the country’s economy.

If we take a closer look at Indian real estate today, there is no escaping how important it is:

* The Indian real estate sector generates employment for about 7.6 million people across the country last year * Real estate is the most single-important consideration for any foreign company eyeing Indian shores to launch operations and create countless more jobs * Real estate’s overall contribution to India’s GDP was estimated at about 6% in 2013 * Real estate constantly cross-fertilizes other industries like cement, steel, paint, chemicals, tiles, fixtures and fittings

The scams that have so seriously impacted the image and credibility of Indian real estate in the past were not the result of a unified developer nexus, but the work of individual players whose crimes have now been attributed to the industry at large. Should we not also consider how some of India’s biggest real estate developers took incredible risks to open up entire new cities to add to the country’s growth?

The urbanization that is the focal point of India’s economic growth hinges on the growth of its cities, and therefore on the products that real estate developers deliver. Wherever we see new cities rise from obscurity into prominence, there are developers restructuring skylines, building homes for population and office spaces for them to work in.

No Indian’s heart can help but swell with pride as they perceive a city like Mumbai, Gurgaon or Bangalore from the air as their planes prepare to land there. What gorgeous evidence of progress is displayed in the tapestry of skyscrapers jostling each other for space, road networks spreading out to connect new areas to existing ones, and office and manufacturing complexes providing the economic nerve-centres.

This is the work of real estate developers, but their contributions towards weaving the very fabric of our cities is overshadowed by the specter of antipathy that has been generated against the entire real estate sector. We must try to understand the basis for this antipathy before we can explain it.

At the end of the day, real estate is a business like any other, and no industry can claim to be free of flaws and anomalies. Almost every day, we hear about delayed projects, deviations from project quality and configurations, and additional payments being charged for changes in apartment areas. We read about how real estate is the first port of call for politicians looking to off-load their unaccounted funds, about developers who have launched projects on land which has not been cleared for development, and how others have been pulled up for flouting FSI and environmental norms.

Such things do occur, and the developers who practice business in such a manner must be held responsible and brought to book. However, these developers do not represent the industry as a whole – they are anomalies that must be eradicated, not symptoms of an industry-spanning pandemic of manipulation and wrongdoing.

A closer look at project delays

Most of the extensively-reported incidents of delayed project completion are often not the result of malpractice, but of a flawed regulatory environment. It is true that some unscrupulous smaller developers intentionally undertake a slower pace of construction if sales in the project are sluggish or a larger part of the project is unsold. However, in most of the cases being touted as evidence of a corrupt industry, delays have happened because the authorities have not granted timely approvals, and the morass of bureaucratic red tape that developers have to navigate for every project.

Before a project is officially launched on the market and offered to buyers, there are myriad permissions that a developer needs to obtain from the state and central agencies and ministries. This does not only lead to delays, but also cost escalations.

Like in any other business, the longer raw material is held, the higher is the holding cost – which, in addition to interest costs in case of borrowed funds, causes an increase in the overall price of the finished product. In real estate, land is the basic raw material for development, with construction materials being the variable costs. The longer a developer has to hold his land without getting any receipts through the sale of proposed apartments, the higher his project costs escalate.

The time consumed in obtaining all approvals adds to the total time expended in completing and delivering the project as per the promised times. Obtaining the 57-odd permissions to begin construction of a project can take as much as two years. During this time, the cost of acquisition or even just holding the land for a project rises. Builders already have to cover external and internal development charges, license costs and often charges for change of land use from various departments, which have also risen. Cost of construction has gone up by more than 35%, as well.

Again, if we consider changes in the apartment area or unexpected price increases after consumers have purchased properties from a developer, these too often occur because changes in project plans were required by the authorities before they issue an approval. There are many examples of how abrupt changes in regulations governing real estate development have worked against both developers and real estate buyers.

To cite just one – a couple of years ago, there were revisions made in the DCR regulations for the Mumbai Metropolitan Region which simultaneously road-blocked innumerable projects and added to overall development costs by about 15%, including the fungible premium builders had to pay for the additional 35% FSI option. The fact that this resulted in a cumulative 20% hike in construction cost and led to price increases across most projects in MMR is just one aspect of the story.

The other fallout was that developers had to re-work the specifications of their upcoming as well as on-going unapproved projects, which led to significant project delays. Apart from an exacerbated cash-crunch, developers also had to contend with the ire of their buyers.

Likewise, while certain instances of faulty land acquisition or title disputes are endemic to fly-by-night operators, it is also true that cases such as in the Noida Extension, land acquisition issues have been legally established to be the fault of the involved authorities. But as always, the blame has been conveniently laid at the feet of a vaguely-defined builder nexus.

The Indian real estate sector is changing

The ugly caricature of Indian real estate as an industry controlled by corrupt despots is naive, hopelessly outdated and extremely damaging to the country’s global image as a thriving economic dynamo. The fly-by-night players who were responsible for this image are still around, but their ranks are rapidly decreasing. In the meantime, it makes absolutely no sense to paint every real estate developer with the same brush. Most large listed real estate developers in India today have wholeheartedly embraced the mantra of complete transparency.

They are selling their products on the basis of declared carpet area, firmly refuse any hint of black money monies as part of their sales transactions, and do everything in their power to deliver their products on time. They are also fighting hard to correct the structural deficiencies of the overall regulatory system – not only because their businesses are suffering on account of conflicting rules and regulations, but because they are being held accountable for factors which are beyond their control. They take their roles as industry stakeholders very seriously, and are among the loudest voices in the outcry for positive change at a policy and regulatory level.

Common to all these players is a vision of Indian real estate as a level playing field in which the business of real estate development and consumption can be carried out in a rational, transparent and uniformly beneficial manner.

This is a long and detailed counter-argument to offer to a simple question – why does everyone love to hate Indian real estate? And for this reason, I only answer it if the question comes from someone who is willing to accept a balanced response, no matter how long it takes to give. (Anuj Puri is Chairman & Country Head at JLL India

PCMC chapter in Punes real estate growth story

http://m.moneycontrol.com/news/real-estate/pcmc-chapterpunes-real-estate-growth-story_1226222.html PCMC chapter in Punes real estate growth story

Arvind Jain Pride Group

When we look at Pune's real estate market, we see ample justification for it having emerged as one of India's most aspired-for residential property investment destinations today. Its advantageous connectivity to Mumbai is only the tip of the iceberg, though this fact did play a big role initially.

Pune also has an unmatched economic profile, with a huge number of multinational companies and industries active in and around the city. Pune's economy is significantly driven by foreign business, and this fact has resulted in the city becoming an independent economic microcosm that no longer depends on Mumbai - or, for that matter, any other city.

The jobs being created by the multitude of large domestic and global industries have made Pune one of the most important employment markets in India - and employment drives demand for real estate. This dynamic has resulted in a quantum boom in real estate development.

Without a doubt, Pune's urban growth has been phenomenal, and each year sees more and more people migrating into the city from all over India. The fact that Pune's population is growing so rapidly has made it necessary for new infrastructure to be put in constantly. However, even though we are seeing constant infrastructure upgrades in the city, the fact is that the Pune Municipal Corporation has been largely unable to meet the pressing requirements for better roads, parking, public transport or electricity and water supply.

This is indeed worrisome, as Pune will expand dramatically over the coming years, both geographically and in scope. One of the most important aspects that will need to be looked at is inter and intra-city road connectivity. Pune's many residential and commercial nodes need to be much better connected, and its connectivity to other key must also be upgraded cities. The work at hand includes the construction of new roads and widening of existing roads,building more flyovers and subways to reduce traffic congestion, and more reliable public transport.

In this scenario, the upcoming 90-meter wide Ring Road that will provide connectivity between the Pune Municipal Corporation and the neighbouring Pimpri-Chinchwad Municipal Corporation (PCMC) is an infrastructure initiative which will make a huge difference. But more than connectivity, the manner in which the Ring Road has been planned once again highlights how important PCMC has become in the overall Pune growth story.

The PCMC presents a picture of urbanization which is very different from that of Pune. PCMC has been globally acclaimed for its accent on planning and infrastructure. As a municipal corporation, it has won multiple important awards on various counts. In terms of its real estate sector, it is by far the hottest chapter in Pune real estate's growth story, thanks to its thriving industrial and automobile manufacturing belt.

In fact, the MIDC area in PCMC is a veritable Who's Who of massive multinational and domestic companies that are generating a tremendous number of jobs each year, and thereby driving the demand for homes in areas which provide ready access to these workplace hubs.

Among the most promising locations under PCMC's purview, areas such as Charholi enjoy the best of both worlds. Located on the border of the Pune Municipal Corporation and PCMC, this area benefits equally from the Bhosari-Chakan industrial belt and the Hinjewadi IT hub. It is also provides superlative access to important locations in the Pune Municipal Corporation such as the Pune Airport, the entire Nagar Road belt, Kalyaninagar and Koregaon Park.

It is interesting to note how the distance between the PMC and PCMC has shrunk over the years, even as Pune is growing exponentially. The Pimpri-Chinchwad Municipal Corporation is no longer an outlying sister city but is now, for all practical purposes, considered as partand parcel of Pune's larger landscape. As such, there is a high level of combined, symbiotic growth which will put Pune in an even stronger position in terms of attracting investments into its real estate sector in the future.

Real estate is taxed heavily and buyer ends up paying more

http://www.deccanchronicle.com/141116/nation-current-affairs/article/real-estate-taxed-heavily-and-buyer-ends-paying-more

  Real estate is taxed heavily and buyer ends up paying more DC | Suresh Hari | November 16, 2014, 06.11 am IST About six per cent of the total value of the property is collected by the government, merely for registering the details! It should instead come up with another model to fix stamp duty and registration charges.

The government has made an indisputable faux pas with its decision to hike guidance value. It should not have been done at all.

While the authorities are right in saying it will crack down on black money, why is the guidance value being used as a tool to increase stamp duty? All the government is thinking of is increasing its own revenue, but it has chosen a poor way of doing it.

What is the value of the services rendered during registration? It is mere record keeping work. The government doesn't authenticate or judge quality or verify documents.

About six per cent of the total value of the property is collected by the government, merely for registering the details! It should instead come up with another model to fix stamp duty and registration charges.

The bottomline here is that the customer suffers. Real estate is taxed heavily and the buyer ends up paying about 40 per cent of the property value in taxes! You pay a higher tax if you pick an apartment on a higher floor, because this is more expensive to purchase.

Why does a builder hike the rate by the floor? Simply because construction costs go up with the height of the building. The builder isn't necessarily collecting a higher profit by charging more.

Amenities like a clubhouse, pool and gym are also supposed to be 'adding value'. Why is that a mark for authentication? Does the government then declare these buildings five-star accommodations?

They also have a new system of identifying projects. For instance, if I am developing a property that I launch at 'x' price, it is listed before it is complete.

So the customer is paying x times three as stamp duty. We have been asking the government not to list projects that are incomplete, but have had no success. What we really need is an external agency to determine the guidance value of a property.

Guidance value, is in essence, a tool of information for the common man, to help him understand the price prevailing in a certain area.

It's also a tool for the revenue department, through which it can keep a watch on registration and black money. But why levy stamp duty? Yes, we want the process to be clean and transparent, and welcome any initiative to cut down on black money, but this is hardly the way to go about it.

The value also goes up with houses that face parks, lakes, the road or that are near a temple. The guidance value is a good indicator of these fluctuations and is normally fixed at about 70 per cent of the market rate.

As far as a builder is concerned, land is the basic raw material, so hiking the rates is disastrous for real estate. To add to this, construction costs are also constantly going up. So where does that leave the builders?

The government claims that construction is a priority sector, but it certainly isn't treated that way. There is no way they can achieve housing for all by 2020 at this rate. In fact, it won't be done even in 2080.

Hiking guidance value will most likely cause a slump. The market is slowly picking up but that will slow down, partly because of the rise in construction costs.

The government has sent a wrong signal to the market, creating an artificial bubble that will lead to inflationary pressure. The builders will bounce back, but can we say the same for the common man?

—The writer is secretary, CREDAI

Example A Builder purchased 5guntha land in Pune Gov.Ready reckoner is 20Lakh/guntha for land and 5100/sq ft for flat Economics of Gov.
Land purchase stamp duty+ registration + LBT
Is 7% =7,00,000/-
I sanctioned plan
Cost is Rs175/sq ft for development charges + LBT+other cost+noc + under table which is
=5000sq. ft*Rs175 =875000/-
Builder started booking and did agreement of flats
Customer paid stamp duty+registration + LBT
=5000sq. ft*Rs5100*7% =1785000
Addition
1% vat+3.09 service tax
=1042000/-
Govt Makes Rs.44,00,000/- from 5 guntha in Pune
Wait
Builder had already paid Rs.31,00,000/-
Income tax for land purchase amount of 1 Cr for white transaction
Wait
Who sold land to me paid
Rs.20,00,000/- for capital gain to Gov.
All in this process after construction work completed
Builder earned profit from this construction site was Rs.45,00,000/- and paid income tax for this project Was Rs.15,00,000/-
Final economic result of 5Guntha land transaction is
Builder Earned Rs.30,00,000/- and
Government earned Rs. 1,10,00,000/- ( Rs. One Crore Ten Lakh only) from 5 guntha land which’s cost was One crore which was developed by Builder Final result In public mind
Builders are looting People.
In democracy, Govenment Is selected by people. This is economics of current situation

Wait Height of all In all abovesaid transaction construction cost is not included in which service tax, VAT, sales tax etc. Has to be paid to Government

Maharashtra govt to simplify deemed conveyance for housing societies

http://wap.business-standard.com/article/pti-stories/maha-govt-to-simplify-deemed-conveyance-for-housing-societies-114111300755_1.html Maharashtra govt to simplify deemed conveyance for housing societies

Maharashtra government will simplify the 'Deemed Conveyance' procedures for convenience of the co-operative housing societies in the state.

"To protect the interest of the depositors in the co-operative credit societies and co-operative banks in the state, the Government will come out with a long term policy within the next three months," Governor C Vidyasagar Rao said in his address to the state legislature here yesterday.

Speaking on wide range of topics, the Governor said that after decontrol of sugar by the Central Government, it is being procured through open market for the public distribution system.

He said the state government will undertake long term measures to mitigate the adverse impacts of drought, specially in areas which are chronically drought prone.

The Water Policy will be reviewed keeping in mind the developments in Agriculture, Industries and the need of drinking water, he said.

Efficient fiscal planning based on completion of 75% of the completed projects, particularly in districts with backlog, and an all out effort to complete 50% of incomplete projects, including distribution systems by 2019 shall be the government's priority, he said.

Other top priority includes, efforts towards forest and wild life sanctuaries conservation. Conservation of tigers, with Nagpur as Tiger Capital of India, rehabilitation of villagers from tiger reserves and promotion of wild life tourism around Tiger Reserves in Vidarbha and Sahyadri regions.

"In view of the vision of Prime Minister to develop hundred smart cities in the country, my Government will develop maximum smart cities in the State in the next five years," he said.

On transportation, he said to improve mass transportation in the Mumbai Metropolitan Region, an integrated approach will be adopted which will include a network of roads, waterways, metros and mono rails.

In order to lessen the burden on the existing rail and road transport systems, the government will create basic infrastructure and amenities to promote Water Transport Projects on the East and West coasts of Mumbai, Navi Mumbai and Konkan region.

The objective of 'Housing for all: By 2022' will be achieved through large scale construction of affordable houses through Government and semi-Government agencies like MHADA, MMRDA, CIDCO and Nagpur Improvement Trust, he said.

The ‘Smart’ Option

http://www.businessworld.in/news/business/infrastructure/the-%E2%80%98smart%E2%80%99-option/1619064/page-1.html

 The ‘Smart’ Option
Building happy, futuristic cities is the flavour of the season. Earlier, polluted, over-crowded cities were seen as India’s ugly face; something nobody was doing anything about. Now, cities are ‘in’; urban India is where people are moving to. Call it the Modi-effect or a realisation that has come late, but governments at the Centre and the states are now tripping over themselves to announce new initiatives and reforms.

It cannot be otherwise. Today, 35 per cent of the country’s 1.2 billion people live in urban agglomerations. By 2050, half of India will be living in cities and towns. Meanwhile, neglect and lack of comprehensive civic programmes have made existing cities cesspools of deprivation. Nearly 45 per cent of Mumbai lives in slums, while for Kolkata and Chennai the figure is close to 30 per cent.

So when the Narendra Modi government unveiled its first budget proposals in July this year, it grabbed the bull by the horns. Finance minister (FM) Arun Jaitley put building homes and cities at the top of the development agenda, while Prime Minister Modi said ‘housing for all’ was not just a slogan but an achievable target by the year 2022. Simultaneously, the FM announced that the government was committed to building 100 ‘smart’ cities, and allocated Rs 7,060 crore for initiating the process. Everybody knew this was not enough to even set up the drawing boards for planning the new cities. So where is the money going to come from?

THE TOP 10 CITIES IN 2014

DELHI
MUMBAI
GURGAON
NOIDA
CHENNAI
HYDERABAD
BANGALORE
KOLKATA
PUNE
AHMEDABAD

Overseas investment is part of the answer. To attract money to construction and realty, the Union Cabinet has now approved dropping the minimum 10-hectare requirement for serviced housing plots and reducing the minimum floor area for FDI-compliant projects from 50,000 sq. metres to 20,000 sq. metres. The new norms also halved the minimum FDI requirement to $5 million from $10 million earlier. Further, the condition of a three-year lock-in period for developers of FDI-compliant projects has been dropped, making exits for foreign investors easier.

Beyond the hype though, little is known about ‘smart’ cities and where they are to come up. ‘Smart’ cities is a term used by European urban planners to define technologically advanced urban communities that use gadgetry to make life comfortable and transportation seamless and easy. Metropolitan commissioner for Mumbai, U.P.S. Madan, says for him turning the posh corporate enclave of Bandra-Kurla Complex (BKC) into a ‘smart’ city meant complete wi-fi coverage, electronic display of parking, intelligent signalling systems and a hi-tech security network with CCTV coverage to protect the community.

Others have defined ‘smart’ cities more comprehensively based on international experience stretching from Copenhagen to Cape Town and from San Francisco to Singapore. Anshuman Magazine, chairman and managing director of realty broker CBRE South Asia, flags a few important pointers: scientific governance at the municipal level; holistic urban planning; involving the urban citizen; smart technology; integrating green technology with human development; and addressing challenges of informal urban settlements.

What is also becoming clear is that the ‘smart’ cities the government has in mind will be new, greenfield creations, probably satellite towns of larger cities rather than re-engineered versions of decrepit metropolises. The government has announced a few — Ponneri in Tamil Nadu, Krishnapatnam in Seemandhra, Tumkur in Karnataka, Varanasi in UP, and the Gujarat International Finance Tec-City (GIFT). An initial concept note prepared by the Union Ministry of Urban Development has estimated the project development cost over 20 years to be around Rs 6.86 lakh crore, of which it proposes to earn Rs 39,000 crore from a slew of environmental and green taxes.

Fast-tracking infra projects will give good signal: P Hinduja

http://m.economictimes.com/news/economy/infrastructure/fast-tracking-infra-projects-will-give-good-signal-p-hinduja/articleshow/45086329.cms Fast-tracking infra projects will give good signal: P Hinduja
NEW DELHI: With infrastructure holding the key to India's economic recovery, government should fast-track projects in this sector to send positive signals to investors, noted industrialist Prakash Hinduja has said.

A $250 billion investment is needed just to boost basic urban infrastructure to get the lumbering economy to grow faster.

Hinduja, Chairman of the Hinduja Group of Companies in Europe, said there is also a need to concentrate on enhancing the India's technological and manufacturing prowess.

"Programmes on infrastructure, many projects are not moving. Foreigners have invested in infrastructure... If the government works on them and puts them on fast track, this will give a good signal to the world," Hinduja told PTI.

Praising the efforts of the government led by Prime Minister Narendra Modi, he said government's track record in the last 5 months has generated a positive sentiment among the global business community.

"The way government has been moving in these 5 months gives a good signal to the world. Stock market has gone up. Different projects are coming in. Investments are coming from abroad. In these 5 months so much movement has happened. It gives a proper feel that change is happening," he added.

Government has already made revamping the infrastructure sector in the country as its top priority with Modi chairing a high-level meeting earlier this month to review the progress on inter-linking connectivity-related infrastructure sectors.

Reviewing work in connectivity-linked infrastructure sectors, Modi has emphasised on faster inter-ministerial coordination and resolution of issues and laid stress on achieving visible results in clear time frames.

He has also directed strict monitoring of projects, based on monthly completion of targets.
Last month, stressing on the need to scale up urban infrastructure, Urban Development Minister M Venkaiah Naidu said the country needs to invest an estimated $250 billion over next 20 years for basic urban infrastructure like roads, transport and water supply.

Analysts say that infrastructure in India is poised for an explosive growth. Consultancy firm PwC in a report has said India's share of the overall Asia-Pacific infrastructure market is expected to continue to grow, reaching around 12.5 per cent or $6.6 trillion by 2025.

Besides infrastructure, Hinduja said, the government also needs to concentrate on developing the technological and manufacturing potential of the country.

He added: "The most important issue for India is technology and manufacturing. Like 'Make In India' is a good concept, but how to make that happen. You need technology. So slogan is that technology is top priority to be brought into the country where we are able to learn the skills and learn other programmes."

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पुण्यात गृहप्रकल्पासाठी "अच्छे दिन'

पुण्यात गृहप्रकल्पासाठी "अच्छे दिन' http://epaper1.esakal.com/5Nov2014/Enlarge/PuneCity/page4.htm
पुणे - दिल्ली, अहमदाबाद, बंगळुरू, मुंबई यांसारख्या महानगरांतील घरे बांधण्याचा वेग कमी होत असताना पुण्यातील गृहबांधणी मात्र चांगलीच वाढली आहे. देशात कोलकत्यातील घरबांधणीचा वेग गतवर्षीच्या तुलनेत सर्वाधिक 28 टक्के होता, तर पुण्यात तो दुसऱ्या क्रमांकाचा म्हणजे अठरा टक्के होता.

कुशमन ऍण्ड वेकफिल्ड या जागतिक स्तरावरील संस्थेने याबाबत पाहणी केली असून दिल्ली, अहमदाबाद, बंगळुरू, मुंबई यांसारख्या महानगरांमध्ये अशा प्रकल्पाची संख्या गेल्या वर्षीच्या तुलनेत घटली असल्याचे त्यात आढळून आले. देशामध्ये 166 नवीन गृहप्रकल्प गेल्या तिमाहीत सुरू झाले असले तरीही परवडणाऱ्या घरांच्या प्रकल्पात मागील वर्षीच्या (जुलै- सप्टेंबर 2013) तुलनेत यंदा 52 टक्‍क्‍यांनी घट झाल्याचे या पाहणी अहवालात नमूद केले आहे.

कुशमन ऍण्ड वेकफिल्ड ही जागतिक स्तरावर बांधकाम क्षेत्रात सल्लागार म्हणून काम करणारी संस्था आहे. या संस्थेतर्फे भारतातील आठ शहरांमध्ये जुलै- सप्टेंबर या तिमाहीत नव्याने बांधण्यात येणाऱ्या गृहप्रकल्पांची पाहणी करण्यात आली. या शहरांमध्ये यंदाच्या तिमाहीत 166 गृहप्रकल्प हाती घेतल्याचे दिसून आले. चेन्नईमध्ये सर्वाधिक 45 प्रकल्प तर अहमदाबादमध्ये सर्वांत कमी म्हणजे पाच प्रकल्पांची पायाभरणी यंदा झाली. या अहवालानुसार, देशातील या शहरांमध्ये मागील वर्षी (जुलै- सप्टें 2013) 43 हजार 800 सदनिकांचे प्रकल्प हाती घेतले होते. त्या तुलनेत यंदा 34 हजार 600 सदनिकांचे प्रकल्प उभारण्यात येत आहेत. यंदा 400 लक्‍झरीस्‌ सदनिकांचे प्रकल्प देशात उभारले जात आहेत. परवडणाऱ्या घरांची संख्या 9 हजार 800 वरुन 4 हजार 700 म्हणजेच 52 टक्‍क्‍यांनी घसरली आहे.

Govt to develop dry port in Pimpri Chinchwad

http://timesofindia.indiatimes.com/city/pune/Govt-to-develop-dry-port-in-Pimpri-Chinchwad/articleshow/45008645.cms

Govt to develop dry port in Pimpri Chinchwad

PUNE: The Centre will develop a dry port in Pimpri Chinchwad to enable export, Nitin Gadkari, Union minister for road transport and highways, said on Saturday.

Gadkari was speaking after inaugurating the Institute of Driving Training and Research, developed by Central Institute of Road Transport (CIRT) and Tata Motors on a public-private partnership basis.

The minister said the roads and ports in the country are congested and there was a need to develop inland transport. "Inland transport forms 20% of the total traffic in China, while it is only 0.5% in India. If tourism is to be promoted, there is need to develop inland transport," he said.

Gadkari said the CIRT must set up a centre here wherein research can be conducted in transport, automobiles, pollution control norms and other aspects meeting international standards. "We will provide all the funds needed for setting it up. Small models of the driving training institute should be set up in villages on a public-private partnership basis to train drivers and reduce accidents," he said.

The Union government will also encourage state governments to develop bus ports on public-private partnership basis to give facilities similar to those at airports to passengers. Hotels, restaurants, malls and other facilities at these bus ports will also generate employment, he said adding that the Union government will also give subsidy for gap funding to make them viable.

Gadkari said the Centre has prepared a draft suggesting changes in the Motor Vehicles Act 1988 and will make efforts to get it passed in the Parliament in the winter session. He said that negligence by drivers was responsible for the maximum number of road accidents, but there is also a need to improve roads and give proper training to drivers to reduce accidents.

The country will need around 4.7 crore skilled drivers by 2020. These drivers can also get jobs abroad, he added. Sent from my iPad