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Showing posts with label affordable Housing at low price. Show all posts
Showing posts with label affordable Housing at low price. Show all posts

Saturday, 1 November 2014

Dangerous Home Investments in New Constructions


Cheaper Construction & hidden risks

                     @ lower price offer


Violation Of Norms In Areas Proposed To Be Merged With PMC As Gram Panchayats Grant Easy Nod


The district administration will survey constructions in the city's fringe areas to check of there have been any violations of sanctioned plans and town planning guidelines. Following the collapse of a six-storey building in Narhe, officials said they would identify such constructions and take action against their owners.Additional district collector Pradip Patil said, “We will take all necessary steps to identify buildings that have violated norms, such as construction of additional floors. We will verify if the plinth has been checked, the completion certificate has been obtained and structural audit conducted. We will initiate stern action against those found breaching the norms.“ Sources said that preliminary observations indicate that the plan of building which collapsed was sanctioned, but an additional floor was constructed without permission. Also, the quality of construction was very poor and the completion certificate was not obtained. The authorities are also verifying whether the plinth checking and structural audit of the building was conducted.



Officials said that further action would be initiated once exact details on the building's construction are verified.
In a survey last year, the district administration had identified over 8,000 illegal constructions and encroachments in villages around Pune. Apart from Ambegaon and Narhe, there has been a surge in illegal construction activity in several fringe villages, including Wadki, Shivne, Manjari, Mangdewadi, Wagholi, Yeolewadi, Undri and Bhilarewadi. The administration had served notices to owners of many such illegal structures and action too was initiated against some, but that has not acted as a strong deterrent.
Narhe, where the building collapsed, is among the 34 villages proposed to be merged with the civic limits. The final process for the inclusion of these fringe villages had started in May with the state government issuing an official merger notification, following which there was a rash of construction activity in these areas, with many illegal constructions or poor quality constructions coming up. Local gram panchayats issuing building permissions easily fuelled the construction boom.
Officials said the district administration has limited manpower to monitor illegal constructions and initiate action against them. It also lacks technical know-how and expertise, nor does it have civil engineers and architects to keep a tab on the quality of buildings coming up in these parts.
The officials had issued notices to illegal buildings but could not initiate action against them. District authorities had asked the state government to create a separate cell with experts, adequate manpower and machinery , but the proposal is still pending. Officials said they would now follow up the proposal with the government.
Officials said in 2011, an extensive drive in Ambegaon and Narhe areas was undertaken when portions of about 35 illegal buildings were demolished. The administration had borrowed machinery from the PMC and private players.Sources said bills for the machinery used then have still not been settled.
In 2013, a similar drive was taken up along the Pune-Satara highway in Khed-Shivapur area when authorities removed illegal buildings that were blocking the road widening work.
Audit of buildings in 34 villages likely
Pune: Buildings in fringe villages proposed to be merged with the civic limits may now undergo structural audits after a building collapsed in Narhe on Friday morning. Civic officials said they will press for audits across villages once they are merged with the PMC limits. Narhe is among the 34 villages proposed to be merged with the civic limits.
PMC's standing committee of PMC may approve a proposal to streamline constructions in these villages, by setting up rules for constructions. According to the proposal, all the building permissions given to construction companies in these villages should be cancelled and constructions on amenity spaces should be stopped.
Meanwhile, buildings in Pune city are largely safe, officials said.Prashant Waghmare, city engineer, said a number of demolition drives had been carried out in the city and now there were no “extremely risky buildings.“ Over 180 such buildings were demolished during the drives and PMC is taking action against the few “dangerous structures“ left.

Friday, 20 December 2013

Affordable Housing an Urgent Need for all Indian Cities


Urgent need of affordable housing


Rent  or  Smaller  House 


       Affordable housing in the last couple  of years has been the most discussed  topic in CREDAI as well by many analyst.  Infrastructure  industry leaders  like to believe that there has been a lot of progress on the affordable housing front but the fact is that a lot more needs to be done to meet the actual demand  of  the mass youth.


      Studies  showing a  demand for  1.2  Crore  affordable homes and the demand for these homes comes from buyers with a monthly  income of   Rs 15,000-25,000 range.

This affordable housing Schemes will be a solution for the people  to move away from  renting in poor areas with high rentals, providing a build home with clear title,  lighting, water and electricity.
Small Flats with a size range of 230 sqft – 275 sqft will be an ideal space range for this income group. Which can be purchased at a cost of  8 – 10 lakhs max.
Research analyst are worked and found this pocket are free for Developers to Enter. But the hindrance may be the Profit margin on each unit may be very negligible.
Low income housing Profit margin are much  low, which could be a deterrent for developers to get into this segment. “It would help if the government declared real estate as an industry. This will allow real estate players to get capital at cheaper rate and more easily. Eventually, it will help in reducing prices of homes,” says Geetamber Anand, president, CREDAI.
Another big problem with low income housing is that 70 per cent of low income people don’t have access to home loan. According to industry experts, inefficient government policies are also hampering the development of affordable housing. We also see other problem with government norms. When you develop a low-cost housing, the norms should be different than the one apply to the high income group.
Whether it is low-income or high end Housing , certain development such as road width, parking, documentation, etc also required. There require  more incentive to do authorised development rather than unauthorised developments.
“Also, because people don’t want to buy homes far away from their workplace is also a reason that not many affordable homes have come up”, says Manish Srivastava, CEO Muthoot Housing Finance Company Ltd. “So, you need good infrastructure as well to encourage housing to come up near all cities,” he says.
Every Indian City must have this kind of Low income accommodations for the future of the youth coming to City in search of Job and picking up mid level or low  paid Jobs. Helping them to invest rather than paying heavy rents for prolonged period. I’m sure such schemes are extremely ideal for  beginners to  start with and later on  move  to a bigger one as most of us dream.

Sunday, 8 December 2013

Discounted Property Rates on Coming Index


Discounted Property  Rates Claim Now than Never



Magicbricks.com  recent  Property Index  gives a clear idea  of property availability  price quote and comparisons.  Its clear that the  structured real estate market function on defined metrics which  act as indicators to the health of the country's economy. India’s  housing Charts  are different  with all kind of  this projections, even though  many may compare this present charts with US housing  data which shocked  markets around the world five years ago.
Much of  Indexes  developed by  modern  Guru’s  and publish  in the market,  people use as reference  to wards real estate housing purchases.  Ground reality is far different than the charts when one approach for a Home Buy.  Many Sensible buyers are not referring to chart when they sit across a negotiation table.  
Affordable Housing  projects developed by almost all the  company  are maintaining a substantial satisfactory demand – sales- creation graph. Price Index lines as one watch in the graph  is not visible and taken in to account  while negotiations, considerations work when it comes to closing of a deal. Holding close to Index certainly creating adverse effect  between buyers and Property developers.   

FREE Property Posted in many  Digital portals like MagicBricks.com, domydeal.in, Quikr,  are mostly posted by Agents, they are  the same property  but in multiple site. This doesn’t  mean all this  property in the market is going to create a seen like BUY ONE and take ONE FREE.  Even Reputed builders Use this free  posting facility  along with brokers and agents creating  adverse effect with in their Brand name and reputations in the real estate market. Since  they are displayed  in the lot  people do claim  for 20% discount on this property on to days market. 

Indian Property Investors and Developers also Dealers want to see a steady  rise and demand of  few Hundreds  may be every Week  in all towns, , that  is not happening now.

Going through the index and further adding self projection, many people may even think of selling their  own home, thinking of buying it cheaper  after a Property Crash. NO, Indexes are only for marginal study purposed not ideal for Common man to make drastic decisions.  

Indian Common man need a Home which take decades to happen or life time EMI & Earnings.
 Indexes vanishes  as  months  old  stories !!