To give a boost to real estate and construction, the government plans to issue guidelines for state on streamlining approval procedures for development projects. The guidelines will incorporate recommendations and key findings of the committee on streamlining approval procedures for real estate projects that was set up by the housing ministry.
When investing in an apartment or a house, the first time buyers should be careful about additional charges such as taxes and maintenance, which he reckons only after the deal is struck and the details are explained to him.
Besides the cost of the property calculated per sq.ft for the total are, the buyer has to plan additional 20-30 percent of expenditure on stamp duty, registration fee, service tax, advance deposit of maintenance charges for 12 months, legal charges, water and electrical connection fees, car parking, club charges and other charges.
Home buyers have the choice of buying either an under-construction property one one already built and ready to occupy. It depends on your motive of buying the house, budget and the level of flexibility. Broadly speaking, a house under construction makes more sense if you are an investor. But if you are an end-user and plan to live in it, a ready to occupy property may be a safer choice.
The environment ministry is likely to ease green norms for the real estate sector, giving a boost to developers wanting to construct high-rise buildings. The relaxation is expected to allow builders to put up higher multi-storey buildings on smaller roads and lanes in cities.
The DNA Property Redevelopment Conference cum Exhibition answered queries about redevelopment at an interactive seminar with experts from the industry, who came together to simplify redevelopment for the audience.
“There should be no dissent among the society members. Select a reputed PMC and follow the 79 (A) process. Ensure there is transparency in the tender and selection process. The society’s expectations should be realistic. Do background check on the developer. Most reputed developers give a similar level of construction quality and amenities. Check for disrupting aspects among the members like pending court cases, etc, that may percent or delay the process.” – Krishna Jhala, Head Redevelopment, Rustomjee.
The commercial and residential sectors constitute the major markets for the real estate industry in India. These sectors also consume a lot of energy and contribute significantly to greenhouse gas emissions. As per an official draft (Modern Building Bylaws for Construction of Green Buildings) by the Town and Country Planning Organisation, Government of India, “In a typical residential building in India, approximately 60 per cent of the total electricity is consumed for lights, 32 per cent for air conditioning and 8 per cent for refrigeration.” Considering this, it’s a no-brainer that if investment were not an issue then there’s no reason that any building should shy away from the green option.
Notwithstanding the ECBC, there are certain top builders who believe that the process of constructing green buildings commences at the site selection and the design level itself. Reasons Boman Irani, Chairman and Managing Director, Rustomjee Developers, “The windows and the doors must be placed in the manner that they cut direct sunlight to reduce heat gain, while letting the rooms get enough air flow through cross ventilation. The site’s closeness to the public transport system too is reckoned, which helps in reducing the dependence on private vehicles that contribute to the carbon emission.” Apparently, post designing, construction material must be procured within the vicinity and must be compliant to the principles of re-use. Instead of bricks, fly-ash concrete blocks for building purposes should be used.
Read more: Jealously green?
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