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Housing For All 2022: PMO Urges Govt. Departments To Identify Vacant Lands For Affordable Housing

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Housing For All 2022

It’s been almost three years since the current government took over office, back in 2014. One of the most important agenda that was initiated by the PMO was mission Housing for all 2022, where it was proposed to build around 2 Cr. houses for the Economically Weaker Sections and Low Income Groups in urban areas by the year 2022. The goal was to overcome the crunch deficit of affordable housing in the urban sector. The government is leaving no stone unturned to make this mission successful. Recently, the PMO has asked all government departments to identify lands that have not been utilized yet, especially in already developed government colonies. The main objective is to make maximum utilization of land resource to expand affordable housing projects.

The government is planning to build a land bank in order to push the efforts to build affordable housing. One of the major challenges that have been hindering affordable housing initiatives is the scarcity of lands, as addressed by various states. This is a very vital step taken by the PMO, in order to boost the initiative, with the hope to locate more land packets and then sending proposals to respective state governments, making them aware of the land availability. The entire mission is closely monitored by the PMO, to track the progress. According to a senior official “It has been observed that some states are doing better as compared other states. These states have ready beneficiary lists and land availability is not an issue. So under the new directives, all ministries have been asked to prepare a list of colonies where affordable housing can be built.”

As of now, the Centre has approved affordable housing projects worth ₹ 90,ooo Cr. across 30 states and Union Territories. The Ministry of Urban Development is trying to identify already developed government colonies as they have all required amenities and approvals. As far as approvals are concerned as many 16.42 lac affordable housing projects have been approved. Tamil Nadu with 2.27 lac houses is leading the table, followed by Andhra Pradesh with 1.94 lac houses and Madhya Pradesh with 1.81 lac houses. Efforts are also being made to collect the best practices followed by various states and Union Territories in order to share them with other states. The PMO is expecting a positive response, with more active participation from different states.  The mission housing for all is yet to go a long away, but this can be considered as a very positive move to ensure that the mission is a huge success.

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Under A New Affordable Housing Policy, Assam To Build 83,000 Houses

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Assam To Build 83,000 Houses

Under a new Affordable Housing Policy, Assam government said it would build 83,000 houses in urban areas for the financially weaker section of the society.

CM Sarbananda Sonowal directed the Urban Development Department to prepare the policy at the earliest.

According to an official release, “Government of Assam would soon adopt an Affordable Housing Policy in the state taking into consideration the specific needs of the financially weaker section of the society and effecting suitable modification of the existing by laws.”

The decision was taken at a meeting in which proposed projects of the Assam State Housing Board were discussed.

During the meeting the CM said, “Our government is committed to ensure housing for all and we would construct 83,000 houses at urban areas for the Lower Income Group (LIG) and Economically Weaker Section (EWS).”

The Assam State Housing Board was asked to to complete survey of its assets and conduct their valuation in a time bound manner so that bigger projects could be taken up by the CM.

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Jaypee Group Sets Target Of 24000 Flats By 2020

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Jaypee Group

2020 is targeted by the debt-ridden Jaypee group for the completion of pending 24,000 flats in Noida. The construction has been started with a cost of about Rs 8000 crore. Out of this amount, Rs 6000 crore would come from the home buyers and the rest would have to be infused, says the Jaypee advisor Ajit Kumar. Jaypee group started the construction of 32,000 flats in its township at Noida in 2007, out of which 8,000 units have been delivered so far.

These 28,000 units from the total flats were taken up by the Jaypee Infratech, which has already gone into insolvency, while the remaining 4,000 units were with Jaypee group’s flagship firm Jaiprakash Associates. Now under the orders of Supreme Court and National Company Law Tribunal (NCLT), Jaypee group intends to complete and deliver all 32,000 units by 2020.

6,300 flats and 1,500 plots have already been delivered by the group, aiming for a target of 5000 units by the June. Applications for 1,500 occupational certificates have been submitted, whereas additional certificates for 3,500 units are in the process.

Jaypee group is in the hold of enough assets, including vacant land parcels, if in case they have to pay all bank dues and a heavy compensation to home buyers for the delays in possession of flats. As the group is investing about Rs 20-30 crore a month on construction by the funds coming from toll collection of Yamuna Expressway and home buyers.

An IDBI Bank-led consortium application was submitted to the National Company Law Tribunal, seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code, later getting a successful admission.

A few months later, an NCLT-appointed Insolvency Resolution Professional (IRP) took over Jaypee Infratech, for the recovery of bad loans. As Jaypee Infratech faced huge protest from home buyers, due to a major delay in the deliveries of the real estate projects.

While handing over the management of Jaypee Infratech to IPR, the court placed a restraining order on its real estate promoters, directors and managing director, barring them from any kind of international travel, without court’s prior permission. Solely concerned about the home buyers, the court assumed a non-lenient behavior in this matter.

On September 11, the Supreme Court appointed senior advocate Shekhar Naphade as an external supervisor to assist the proceedings of the IRP, which will submit a resolution plan indicating how to safeguard the interests of home buyers and secured creditors.

On October 27, a public notice was issued by IRP Anuj Jain, seeking applications from entities with regard to the resolution of Jaypee Infratech Limited. Several expression of interest (EOIs) got submitted under it, as the resolution plan needed to be approved by the creditors and the NCLT.

The Yamuna Expressway, connecting Delhi and Agra, is one of the major constructions done by the Jaypee Infratech in the field of road construction and real estate business.

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Drafting A Rental Agreement

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Rental Agreement

The rent agreement is a document that seals the arrangement between a landlord and the tenant, it is to help them, forming a good healthy relationship. However, all the provisions and necessary laws should be mentioned clearly in the document as it can be a potent instrument that can be used and misused. With an aim to create a mutually beneficial relationship, these agreements are made to avoid any kind of disputes between the tenant and the landlord.

The basic necessity for an agreement is the background check, a crucial element for tenants as well as landlords, which must be completed before entering into a rental agreement. As the sole purpose of a background check is not only security but it is also important for a perspective of evaluating the advantages and disadvantages of renting.

For the tenant, applying for a rental agreement is like a job interview. As there is need to become presentable in a mature, trustworthy and financially responsible manner. Similarly, the landlord should make sure that the tenant presents the right credentials. Therefore, the agreement calls for a thorough background check. From the tenant’s employment history, contact information and the proof of income, everything has to be taken care of.  

Almost all of the rental agreements are made on notarised stamp papers. There exist some chances of violation from either the parties, despite the document being a legal contract. Therefore, to avoid these violations, the agreement must be registered at the local sub-registrar’s office. Sound clauses and provisions in a lease agreement, only add to the integrity of the document, protecting the interests of both the parties.  

With a proper definition of the roles and responsibilities of the tenant and the landlord. A proper format for the provisions, emphasizes on the mentioning of the tenancy period, the renewal time of the lease, the clause of repair and responsibilities, the frequency and the date of rent payments. All the repairs and maintenance should be completed before taking up a property on rent. All the electrical wiring and plumbing must be checked before occupying, as it will safeguard the tenant from unnecessary expenses that may crop up in future. Pending dues such as electricity and development charges must be checked beforehand.

During the signing of the rent or lease agreement, the presence of two known witnesses is a must. Due to the deterioration of the law stature and the order situation in major cities, the authorities are pressing for the verification of the tenants. The landlords are also asking for the copy of employment letters from the tenant’s employer. A Landlord must insist on a police verification for a tenant, who is a non-native of the city.  

In general, there are ready templates being used by most of the lawyers, who assist in framing the rent agreement. But it is not necessary that these provisions can’t be changed. All the needs can be tailored in the agreement, according to the requirement, with clauses that are mutually acceptable to the tenant and the landlord.

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