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News Updates Ashiana


buys land in Alwar


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Timely project approvals may bring down housing costs by 25-40%: Kumari Selja


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The Minister of Housing and Urban Poverty Alleviation Ku- mari Selja has announced the setting up of an internal com- mittee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40%.


Ashiana Housing Ltd has bought a 4,154.73 square metre plot in Alwar district of Rajasthan in an auction con- ducted by the Urban Improve- ment Trust in Bhiwadi.


“The land will be utilised to develop a residential project comprising 4/5 BHK apart- ment with retail units on the ground floor,” the company has said. The total saleable area will be around 1,20,000 sqft.


Alongside, Ashiana has sold its 10.92-acre land in Jodh- pur which it had purchased in 2007.


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The committee, which will be chaired by Dhanendra Kumar, former chairman of the Com- petition Commission of India, will submit its report in four months.


“It is estimated that the cost to ultimate consumer could be 25 to 40% lesser if the time of granting approval is reduced to six to eight weeks,” she said.


Real estate industry experts say about 70 approvals are required for a typical housing project which take between two and three years. The lack of coordination among multi- ple government agencies and delays result in higher costs which need to be passed on to the consumer.


Bangalore properties geo-tagged


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Most of the 16 lakh properties spread over 800 sq kms and under the Bruhath Bangalore Mahanagara Palike (BBMP) jurisdiction have been geo- tagged. This exercise which commenced two years ago and spread over 800 sq kms in the city has proven to be an effective tool for analysing and displaying thematic maps of all the roads for proper evaluation and correction of zones.


Perhaps the first in the coun- try, this massive exercise was undertaken to regulate proper- ty tax and increase the collec- tion drive of the BBMP. About nine lakh properties have been validated through this dynamic database. The remaining 4-5 lakh properties are in the final process of validation.


You can now go to the BBMP’s website and obtain your unique property ID no. Once this is generated, you will be able to access your ownership details, dimension of property and view it on Google maps.


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