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Banks give dull response to bid for plots, say scheme costly05-Feb-2012NOIDA: In an attempt to help displaced banks tide over sealing of their premises, the Noida Authority on Friday completed the allotment process of new commercial plots following the directions of the Supreme Court. Under the scheme, the Authority allotted plots in 23 sectors across the city. However, the number of bids made by the banks was surprisingly dismal – for the 77 plots on offer to accommodate the 104 bank branches displaced by the apex court order, the banks applied merely for 38.
The State Bank of India alone bid for 19 plots while Punjab & Sind Bank opted for five. Bankers attributed the same to the “exorbitant rates” of the Authority’s new scheme and the cumbersome construction work that will have to take up on these plots to accommodate the displaced branches. “Besides the high land cost of Rs 3-4 crore for each plot, the banks will have to put in at least another crore for construction that will also be time consuming. Adding to expenses would be the annual lease rent of Rs 10 lakh that the banks will then have to pay to the Authority for the next 11 years,” said Lead District Manager, Arun Kumar of Syndicate Bank. “All this money is required for just one branch. It is not wise to invest so much money on this and, hence, many banks have decided to look for space in existing commercial areas,” he added. Bankers say that until the SC order, they had been paying between Rs 70,000 and Rs. 80,000 per month as rent in residential areas. The displaced banks who did not opt for the Authority’s new scheme are now trying to rent vacant space in the earmarked commercial pockets close to residential areas. “A lot of commercial plots have vacant or underutilized space. The challenge for us now is to find a suitable, large enough spot to shift our operations within the six week period given to us by the court,” said a Karur Vyasa Bank official. Many banks are also contemplating shifting their operations to vacant plots in urban villages where the Authority permits commercial activity in 50 per cent of the total area. Besides being close to residential sectors, these areas offer vacant space at comparatively cheaper rates. No relief in sight for nursing homes till elections are over05-Feb-2012NOIDA: Even though banks have received a six-week breather from the Supreme Court, the fate of more than 50 nursing homes operating from residential plots hangs in the balance.
Noida Authority officials said that it is unlikely that their rehabilitation process will take place before the elections end in March, thus compounding problems for residents. Authority officials said that they could only offer the nursing homes a suitable scheme to accommodate them only after March. According to officials, they have limited land to offer to commercial establishments. “We had offered a scheme in October last year offering commercial plots at moderate prices, which would have been perfect for doctors who are running nursing homes for residential areas,” said SK Dwivedi, CEO, Noida Authority. The problems for doctors and residents can increase in such a situation as most of the available commercial plots are far away and in ill-maintained parts of the city, allege doctors. However, they are willing to move to such ‘undesirable’ locations as long as they get the commercial plots from the Noida Authority. “Our main priority is to get vacant commercial plots. We are no longer demanding for suitable plots and we will deal with whatever problems we face in the best way we can,” said Dr NK Sharma, Noida Doctors Association. According to the doctors, the Supreme Court’s decision to make permissible the use of 25 per cent of the Floor Area Ration (FAR) of the total residential area for professional use makes things simpler. “The Supreme Court has allowed doctors to run OPDs in their residences. If we get the suitable plots, we will shift our nursing homes to those plots,” explained Sharma. However, the relief offered to banks by the SC doesn’t necessarily mean that that same may be given to the nursing homes. “After we receive the court order, we will decide our further course of action,” said the CEO of the Authority. Aniruddha GhosalAniruddha Ghosal, TNN | Feb 3, 2012, 12.40AM IST
CNG supply to be affected on Sunday05-Feb-2012The supply of CNG in Noida would be affected on Sunday as Indraprastha Gas Limited is undertaking shifting work of some of its underground steel pipelines in the city on the request of Noida Authority. Apart from the CNG filling stations, supply would also remain unavailable to industrial units and commercial establishments running on natural gas, even though IGL has made alternate arrangements for supplying PNG to domestic households. Kids’ day out: Special children get sports lessons05-Feb-2012NOIDA: While playing in a school ground on a sunny winter morning is a routine activity for children, for this group of 20-odd kids with special needs, this is a rare indulgence. The children were introduced to games like badminton and athletics as part of a special workshop on Saturday. Organised by NGO Sanchetna, the workshop aimed at preparing these kids for Special Olympic Games. It was part of an initiative by Special Olympics Bharat to identify young athletes in the country with potential to represent the country at an international level. The Youth Athlete Programme works towards preparing these kids for Special Olympics by the age of 8. The unique programme is not only fun for the children but also stimulates their mental and physical growth, say parents. “The programme helps our children develop better social skills. It boost their confidence, in turn making it easier for them to play and interact with other children in the playground and elsewhere,” said Dimple Anil, principal, Billabong High International School, Noida. India has been participating in Special Olympics World Summer Games since 1987. In the 2011 edition, held in Athens, India sent the fourth largest contingent after Greece, US and China, with 235 athletes who competed with 7,000 athletes from 180 countries. The athletes were selected during different national events. India won 243 medals, including 92 gold medals. Indian GP showing swung it for me04-Feb-2012The Indian GP has changed the way India looked at motorsport. It has drummed up unbelievable levels of fascination and excitement among motorsport enthusiasts, media and the corporate world. I guess I can reveal this now since it’s of little consequence, that in the weeks following the Indian GP, some Indian investors were determined to acquire a majority stake in a Formula 1 team with two Indian drivers in it. The plan, however, didn’t come to fruition, but I knew where I wanted to be — F1 was my only focus following that eventful weekend. And understandably so, as you may recall that during the Indian GP, I was paired up with Daniel Ricciardo — a young and highly rated driver — and I was on an even footing with him throughout. It gave me a newfound confidence in my ability, and that is when I knew I still had business here. It immediately became apparent how difficult it was to stay in F1, but I never considered other alternatives. I ensured that I was physically and mentally ready for any opportunity and trained as hard as I possibly could. Obviously, there were a lot of discussions, long hours on flights and at airports, hotel stays and so on. Rolling the dice I am happy that the new management in HRT believed in me and gave me this opportunity, and I have every intention to make the best of it. Unique season The team has some very experienced people onboard now, like the new team principal, Luis Pérez-Sala, and my teammate Pedro de la Rosa. Saul Ruiz de Marco, (HRT F1 CEO), has a very good approach to what F1 should be. However, we all know it’s impossible to change things in F1 overnight, but we are certainly taking strides in the right direction. I remember Pedro from my first F1 test with the Jaguar team in 2001 — he was the team driver then. Even though I don’t know him very well, I know that he’s very experienced and has a pleasant personality. We should get along well — it’s not about trying to beat each other but working harmoniously to help the team progress. That is all I have to say for now. I am eagerly waiting to jump in the new car at the pre-season winter tests, unlike the last season when I first drove the new car on the opening race weekend in Australia. So, things are looking good and there is enough incentive and motivation for me to push as hard as I can from the word go. Narain Karthikeyan Karthikeyan back with HRT in Formula 1 for 201204-Feb-2012Walking towards the press conference area at the Taj Mansingh hotel, one got the feeling that Narain Karthikeyan would not spend much time talking about the launch of his merchandise after news broke that the 35-year-old had secured the final slot on the 2012 Formula One world championship driver line-up with HRT F1. Karthikeyan will become the first Indian driver in F1 to race in successive seasons, that too with the same team. It’s this continuity, despite the fact that 95% of HRT F1 personnel are new, that Karthikeyan is banking on to help him progress this year. That and the potential for some good fortune on the racetrack. “You might find a few surprises popping up this year,” said Karthikeyan when asked about the regulation changes in F1 that have led to the banning of exhaust blown diffusers. The one thing that Karthikeyan does not believe will be a factor in his performance, however, is his age. “How is that a factor?” retorted Karthikeyan when asked whether his or his team-mate, Pedro de la Rosa’s age would be a factor. “(Michael) Schumacher is 43, (Mark) Webber is in his mid-30s, I am in my mid-30s. You guys (media) are the ones who create this factor!” While age may not be a factor, experience is something the HRT F1 team principal, Luiz Perez Sala, values. “We are starting probably from the beginning,” said Sala via videoconferencing. “Both Pedro and Narain are experienced and we need this in order to build the team.” It is also Karthikeyan’s natural talent that made Sala — who competed for Minardi in 1988 and 1989 — firm up his mind on the Indian. “I first saw Narain driving in Monza in 2002 in the Nissan World Series. He drove hard over the kerbs and showed good car control. So, I started following him,” said Sala. The Tata effect “Tata is going to be one of the most important sponsors,” said Marcos from Spain. “We have to build a better car so that Tata get a good return on their investment in the team.” Marcos even raised the possibility of the team doing promotional events in India. HT Correspondent, Hindustan Times Pool resources to create value04-Feb-2012Delhi’s Master Plan allows plot owners to combine their individual properties and redevelop them into apartments he Master Plan of Delhi 2021 (MPD) has a provision for the cluster block Tapproach which is about existing plot owners can pool in their individual properties and redevelop them into apartments with better amenities and greater floor area ratio (FAR). The MPD also has provisions to encourage redevelopment through private participation -to redevelop either single units or through amalgamation. It also calls for voluntary participative development in rural areas. The cluster block approach allows plot owners to pool in their properties to arrive at the magic number of 3000 sq m, the minimum requirement as far as the size of the plot is concerned. Likewise, for tapping into the land in villages, unauthorised colonies and resettlement colonies, the MPD envisages a policy for 2000 sq m. The Master Plan also seeks to incentivise the redevelopment process. “To incentivise and redevelop, a maximum overall FAR of 50% over and above the existing permissible FAR on individual plots will be allowed subject to a maximum of 400. Higher FAR shall not be permissible in redevelopment of Lutyens’ Bungalow Zone, Civil Lines bungalow areas and monument regulated zone,“ it says. The beneficiary would be the end-user who would get products at the ideal price, while the developer would benefit from faster cash flow. As per the scheme, redevelopment and renewal is to be identified on the basis of the presence of physical features such as the Metro, roads, drains, high-tension lines and control zones such as monuments and heritage areas. In short, this means that there should be adequate infrastructure and the area under consideration should not be close to a heritage site. What this translates to is that if four families together have plots measuring a total of 3000 sq m which they wish to redevelop into multi-storey apartments with better amenities, they will be permitted 50% FAR. So, if the current FAR is 1.2, they may be allowed 1.8 under the new norms. As per the MPD, the government’s redevelopment efforts are targeted at unauthorised, resettlement and rehabilitation colonies but are more likely to happen in areas where large contiguous plots are available, places which may allow for easy aggregation of 3000 sq m land parcels. HT Estates Correspondent Farm side story04-Feb-2012There is no dearth of buyers for farmhouses even though prices jumped sharply after the extension of amnesty to those with unauthorised construction armhouse owners in Delhi would have been overjoyed when the Parliament recently passed the National Capital of Delhi Laws (Special Provisions), Second Bill 2011, FProvisions), Second Bill 2011, to make special provisions for the city for a further three years beginning January 1 this year. This extends the earlier act that was valid till last December. In simple terms, the new act extends by three years the amnesty provided by the previous one to farmhouse owners who faced action for unauthorised construction on their land and against acquisition of their farmhouses under any earlier notification. According to a survey conducted by the Municipal Corporation of Delhi (MCD) a few years ago, there were 2800 farmhouses on about 7500 acres of land in the city. By last year, there were an estimated 3000-plus farmhouses spread over 10,000 acres of land. In the past two decades, the authorities notified about 5000 acres of land for acquisition in 13 villages. The farmhouses that were on the notified land stood to be affected. Farmhouse owners were delighted last year when the government had tried to usher in a farmhouse policy that provided for regularisation of all farmhouses including those with unauthorised construction or those on notified land. However, the draft was emphatically shot down by non-official members of the DDA comprising MLAs and municipal councilors from the Congress and the BJP. The members labelled and decried the draft as a shocking move for the benefit of farmhouse owners, many of whom are the rich and powerful. As the draft was then seemingly shelved and a farmhouse policy is awaited, the government’s extension of amnesty for another three years did spell relief to the farmhouse owners in as much as that at least no action would be taken against unauthorised construction and that no land will be acquired. Not all the non-official members of the DDA though are impressed by the extension of the amnesty. One of the nonofficial members, BJP MLA Harsh Vardhan, who is also former BJP Delhi president, said that the government ought to have framed a clear policy. Why just postpone a decision and keep the sword hanging on those affected? Another non-official member, Congress MLA Subhash Chopra, who is also former Delhi Pradesh Congress Committee president, said the basic priority are the poorer sections, so the authorities should formulate schemes that would benefit them. The government should not drag its feet in formulating policies, he said. Meanwhile, the price of farmhouses and farmhouse land has risen to unexpected heights. This is especially so in the wake of the recently passed bill that extends the amnesty period. Farmhouse owners who faced the prospect of action against unauthorised construction in their properties or possible acquisition were the ones who most benefited. Since this also lifted the cloud of uncertainity on the fate of such properties, the prices appreciated enormously. A real estate agent Sandeep Chaudhury of Sagar Properties says that the price of farmhouses and farmland has grown three times what it was even six months ago. In West End Green in Rajokri, a two-and-half acre farmhouse could cost around R100 crore, he cited an example. Interestingly even though prices have sharply climbed, there are no dearth of buyers. So, the farmhouses enjoy a charmed position in the list of the most prime real estate holdings. Arati Bhargava in Ht Estates Doctors shift clinics to avert crackdown04-Feb-2012Noida: Even as the Noida Authority cracked down on the number of errant nursing homes operating from within residential areas, confusion prevailed amongst other doctors in the city regarding the implications of the Supreme Court judgement on January 23. Doctors said that they were still unsure about the exact implications of the Supreme Court’s decision to allow the use of 25% of the permissible Floor Area Ratio (FAR).
Even though commercial activity was disallowed by the Supreme Court in residential areas, thousands of doctors and other professionals were given relief by the apex court on January 23 when they were told that the use of 25 per cent of the FAR of the total residential area would be permissible for professional use, as opposed to the previous order wherein it had been stated that only 30 per cent of the residential area on the ground floor could be used. However doctors said that some confusion still persists regarding the exact implication of the court’s order. “The Noida Authority hasn’t made it clear to us whether they would be sealing our clinics or not. We run a clinic from our basement and in order to make sure that we don’t face formal sealing from the authority, we have shut down operations until things become clearer,” said Dr Ajay Rathore, who runs a clinic in sector 41. Some doctors, who had been running nursing homes from residential operations, shifted them to commercial locations. They explained that they had looked for alternative locations in commercial areas where they could operate on their own, so as to not inconvenience patients. “We have moved to a suitable location in SAB mall which is not very far from our clinic,” said Dr Sahai, who runs a private clinic in sector 19. The Noida Authority’s sealing drive only affected commercial activities in sector 19 in Noida and according to Noida Authority officials, sealing will continue in other parts of the city on Thursday. “The sealing will affect all nursing homes operating within residential areas in the city. As per the Supreme Court, doctors are only allowed to run OPD’s within residential areas and they can’t use more 25% of the FAR for professional use,” said SK Diwedi, CEO, Noida Authority. Aniruddha Ghosal | TNN
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