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Dear ck.kislay,
You are subscribed to the thread "Delhi Real Estate Updates" by MANOJa, there have been 2 post(s) to this thread, the last poster was MANOJa.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 2 2018 02:10 PM
[h=1]North Delhi civic body to charge DMRC Rs 80 crore as property tax[/h] A senior official said DMRC only paid a service tax at the rate of 5% of its property tax as �it was categorised as a government establishment[URL="https://realty.economictimes.indiatimes.com/author/479239614/mayank-manohar"]Mayank Manohar[/URL] | TNN | March 02, 2018, 14:00 IST NEW DELHI: The cash-strapped [URL="https://realty.economictimes.indiatimes.com/tag/north+corporation"]north corporation[/URL] has brought in a [URL="https://realty.economictimes.indiatimes.com/tag/resolution"]resolution[/URL] to hike the [URL="https://realty.economictimes.indiatimes.com/tag/property+tax+rate"]property tax rate[/URL] for Delhi Metro Rail Corporation ([URL="https://realty.economictimes.indiatimes.com/tag/dmrc"]DMRC[/URL]) by 20 times. A senior official said DMRC only paid a service tax at the rate of 5% of its property tax as �it was categorised as a government establishment. However, as per Section 119 of Delhi Municipal Corporation (DMC) Act, DMRC doesn�t hold the stature of a government establishment�. According to the proposal, �Under Section 119, only Union properties are exempted. DMRC is a company incorporated in Companies Act and North DMC should consider levy of property tax upon DMRC�. DMRC pays Rs 50 lakh annually as service tax, a civic official said, adding that under the proposal, it would have to pay Rs 80 crore every year as property tax. �The north corporation is going through a severe financial crunch and charging property tax will give us a boost.� At least 50 DMRC properties fall under the jurisdicition of the north corporation. The standing committee of the corporation approved the proposal on Wednesday and directed the commissioner to withdraw the earlier resolution passed by the civic body on the service charge and raise a fresh demand. Standing committee chairman Tilak Raj Kataria said, �The proposal will now be tabled in the house meeting.� DMRC refused to comment on the matter. The demand was originally raised before the trifurcation but DMRC had moved the high court against it. However, the official said, an agreement was signed after the lieutenant governor held a meeting in 2011, which categorised DMRC under government establishment and the decision to charge service tax was approved. [url]https://realty.economictimes.indiatimes.com/news/regulatory/north-delhi-civic-body-to-charge-dmrc-rs-80-crore-as-property-tax/63133356[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 2 2018 02:11 PM
[h=1]Delhi Development Authority proposes new building byelaws[/h] Construction firms, contractors of three-storey flats or bigger shopping complexes may be responsible for structural flaws or defects in constructed building.[URL="https://realty.economictimes.indiatimes.com/author/10299/nidhi-sharma"]NIDHI SHARMA[/URL] | ET Bureau | March 02, 2018, 10:29 IST NEW DELHI: Architects, structural engineers, construction companies, contractors and site engineers building three-storey flats or bigger shopping complexes may be responsible for any structural flaws or defects that occur within 10 years of the building being constructed. Tightening Delhi�s development control rules, the ministry of housing and urban affairs has proposed an amendment in Unified Building Bye-Laws for Delhi 2016, which would now hold responsible all contractors and even site supervisors of defects in a building constructed on plot size of 750 square metres and upwards. In simpler terms, it brings under the ambit of Unified Building Bye-Laws plots in swanky residential colonies like Greater Kailash Part I, Green Park, Vasant Vihar, Satya Niketan and Defence Colony. These posh colonies have seen increased building activity by private builders who build multiple flats on one residential plot with an average size of 750 to 1,000 square metre and sell them floor-wise. Even shopping complexes or malls in areas � like [URL="https://realty.economictimes.indiatimes.com/tag/vasant+kunj"]Vasant Kunj[/URL] or Saket � being built would come under this. The amendment would mean that every architect would now have to take decennial professional liability insurance to cover for such liability. This is in line with international practices where architects take professional indemnity insurance to safeguard themselves against any future litigation involving structural defects accusations. The Unified Building Bye-Laws 2016, which were notified in March 2016, had put this �latent defects liability� clause only for plots with 20,000 square metre and above. This bigger plot size limit had rendered the clause completely useless as it put 80-90% of Delhi out of the ambit of latent defectliability on the architect or engineer. In practical terms, a 20,000 square metre plot would house a 35-40 storey highrise building with three flats on each floor. This had been introduced when India attempted to improve on its Ease of Doing Business rankings. [URL="https://realty.economictimes.indiatimes.com/tag/world+bank"]World Bank[/URL] had accorded importance to the provision of latent defect liability. Now, the Centre has moved the amendment reducing the plot size. The proposed amendment reads, �The following shall be held liable for anystructural flaws or defects in all risk category of buildings having plot area 750 square metre and above after it is in use: 1) architect 2) structural engineer 3) Site supervisor/ site engineer 4) construction company including contractor/ sub-contractor�� The amendment has been put in public domain for a month to invite suggestions and comments. After the mandatory notice period of a month, it would be notified. [url]https://realty.economictimes.indiatimes.com/news/industry/delhi-development-authority-proposes-new-building-byelaws/63133587[/url]
With warm regards,
Team IREF
With warm regards,
Team IREF
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