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MHADA Lottery 2019-2020: Online Application, Eligibility, Results, Draw Date, Winner List

The Maharashtra Housing and Area Development Authority (MHADA) conducts housing lotteries annually to provide affordable housing options to residents of Maharashtra. This article provides a comprehensive guide to the MHADA lottery for the years 2019 and 2020, including information on the online application process, eligibility criteria, results, draw date, and winner list.

Online Application Process:

The MHADA lottery application process is conducted online through the official MHADA website. Prospective applicants need to register on the website and fill out the online application form, providing all necessary details and documents as per the eligibility criteria specified by MHADA.

Eligibility Criteria:

To be eligible to participate in the MHADA lottery, applicants must meet certain criteria, including:

  • Must be a resident of Maharashtra
  • Must be at least 18 years of age
  • Must not own any property in Maharashtra
  • Must have a valid income certificate
  • Must fulfill other criteria specified by MHADA

Results and Draw Date:

Once the application process is complete, MHADA conducts a draw to select the winners of the lottery. The draw date is announced on the official MHADA website, and applicants can check the results online using their application number or other specified details.

Winner List:

After the draw is conducted, MHADA publishes the list of winners on its website. The winner list includes the names of the applicants who have been allotted housing units through the lottery, along with details such as the location of the property and other relevant information.

Conclusion:

The MHADA lottery provides an opportunity for residents of Maharashtra to own affordable housing units through a transparent and fair selection process. By following the online application process, meeting the eligibility criteria, and participating in the lottery draw, eligible applicants can fulfill their dream of owning a home in Maharashtra. For more information and updates on the MHADA lottery, applicants are advised to visit the official MHADA website regularly.

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SEBI Introduces Amendments to Regulations for Small and Medium REITs

NEW DELHI: The Securities and Exchange Board of India (SEBI) has enacted amendments to regulations governing small and medium Real Estate Investment Trusts (SM REITs) under the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2024.

These amendments, applicable to the 2014 regulations, are set to take effect upon their publication in the official gazette.

A Real Estate Investment Trust (REIT) is defined as an entity that pools a minimum of Rs 50 crore for issuing units to at least 200 investors, with the objective of acquiring and managing real estate assets or properties. This allows investors to receive income generated from these assets without assuming day-to-day management control.

Key provisions include the requirement for the investment manager to possess a net worth of no less than Rs 20 crore and a minimum of two years’ experience in the real estate industry or real estate fund management. Additionally, at least half of the investment manager’s directors must be independent, with no ties to other REITs or SM REITs.

To safeguard investor interests, the board reserves the right to appoint an individual to oversee the records and documents of the SM REIT. Moreover, each SM REIT scheme must have a distinct name, free from any misleading implications regarding guaranteed returns.

Under these amendments, SM REITs must ensure that assets proposed for acquisition are valued between Rs 50 crore and Rs 500 crore, with a minimum of 200 unitholders, excluding the investment manager and its associates. Furthermore, at least 25 percent of outstanding units in each scheme must be offered and allotted to the public.

SM REITs are prohibited from engaging in transactions with related parties, including facility and property management arrangements. Investment conditions mandate that the Special Purpose Vehicle (SPV) exclusively own all assets acquired or proposed by the scheme, with at least 95 percent of the scheme’s assets invested in completed and revenue-generating properties.

These amendments aim to streamline operations and enhance transparency within the SM REIT sector, ensuring adherence to stringent investment criteria and governance standards.

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UP Government Greenlights Lucknow Metro’s Second Corridor Project

In a significant move towards promoting green public transport, the Uttar Pradesh government has given the green light to the Charbagh-Vasant Kunj second metro corridor project in Lucknow. This ambitious project, with an estimated cost of Rs 5,801 crore, aims to enhance urban mobility with a modern and efficient metro network.

LUCKNOW: The Uttar Pradesh government has approved the construction of the 11.165 km-long Charbagh-Vasant Kunj second metro corridor project, with plans set to commence commercial operations on June 30, 2027. The corridor will feature 12 stations, seven of which will be underground and five elevated, as announced by state finance minister Suresh Kumar Khanna following the cabinet’s nod for the project.

The detailed project report is now slated to be sent to the Centre for further approvals.

Spanning from Charbagh to Vasant Kunj, the metro line will traverse beneath the earth’s surface, serving key locations including Gautam Budh Marg, Aminabad, Pandeyganj, City Railway Station, Medical Chauraha, and Nawazganj.

An official highlighted the rising demand for metro services in Lucknow, with over 8.70 crore commuters utilizing the existing metro corridor since its inception in 2017. The government’s focus on promoting a green public transport system to mitigate carbon emissions underscores the significance of this project.

The Charbagh-Vasant Kunj corridor will operate on the 750 DC traction system, offering efficiency and reduced maintenance costs compared to overhead electrification systems. The financing model for the project includes 60% funding from financial institutions and a 40% split between the state and central governments on a 20:20 ratio.

Nitin Ramesh Gokarn, additional chief secretary of the housing and urban planning department, expressed confidence in the project’s approval from the Centre, emphasizing its potential to revolutionize public transport in Lucknow. He affirmed the commitment to completing the project within 40 months, employing tunnel boring machines (TBMs) for expedited construction.

Despite challenges posed by the COVID-19 pandemic, the first corridor of Lucknow metro has witnessed a notable 35% increase in passenger ridership. With a robust operational model generating positive cash flow, the metro system is poised for further expansion and service enhancement.

The approval of the Charbagh-Vasant Kunj corridor underscores the state government’s commitment to modernizing urban transportation infrastructure and fostering sustainable development in Uttar Pradesh.

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Delhi Government Allocates Rs 500 Crore for Expansion of Delhi Metro

New Delhi: In its 2024-25 Budget presented on Monday, the Delhi government has earmarked Rs 500 crore for the expansion and improvement of the Delhi Metro, with Finance Minister Atishi highlighting that over 60 lakh individuals now utilize the service daily. Atishi revealed that in 2014, the daily ridership was around 24 lakh passengers.

Presenting the budget with a total outlay of Rs 76,000 crore, Atishi emphasized the government’s commitment to providing quality public transportation to every resident of Delhi.

Under the leadership of Chief Minister Arvind Kejriwal, significant strides have been made in enhancing the public transportation sector in Delhi, she noted.

From a total of 193 kilometers of metro network and 143 stations in March 2015, the Delhi Metro has expanded significantly over the past nine years, with the network doubling to 393 kilometers and the number of stations increasing to 288, Atishi added.

Highlighting the exponential growth, Atishi reiterated that while around 24 lakh passengers traveled daily on the metro in 2014, today, the number has surged to over 60 lakh commuters. The Delhi Metro now serves every corner of Delhi, extending its reach to areas such as the Tikri border, Samaypur Badli, Tikri Kalan, Badarpur border, and Shiv Vihar.

“In this financial year, I propose an outlay of Rs 500 crore for the Delhi Metro,” she announced.

The Delhi Metro stands as the largest and busiest rapid transit system in India, seamlessly connecting the country’s capital region with its satellite cities.

Operated by the Delhi Metro Rail Corporation, a public sector company established jointly by the government of India and the government of Delhi in May 1995, the metro system continues to be a vital lifeline for millions of commuters in the National Capital Region.

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Nitin Gadkari Pushes for Smart Village Concept to Foster Holistic Development

In Nagpur, Union Minister Nitin Gadkari emphasized the importance of establishing ‘smart villages’ alongside smart cities to ensure comprehensive development across the country. Gadkari highlighted his initiative to transform Bela village, located 30km from Nagpur, into a model smart village, expressing optimism about its potential replication nationwide.

Gadkari underscored the significance of generating employment opportunities in rural areas, citing innovative projects like the production of carpets from cloth waste materials as avenues for economic empowerment. He revealed the surprising affordability of these products, exemplifying the potential for rural entrepreneurship to thrive.

Addressing the bhoomipujan ceremony for various infrastructure projects, Gadkari advocated for the utilization of drones for urea spraying in farmlands, emphasizing the need for technological innovation in agriculture.

Furthermore, Gadkari emphasized the importance of empowering self-help groups and cottage industries in villages, envisioning financial independence as a norm for rural communities. He highlighted the success of projects like the cable-stayed bridge in Ambhora and announced plans for collaboration with business magnate Anand Mahindra to establish a resort in the area, showcasing the potential for rural tourism development.

Additionally, Gadkari assured improved transportation infrastructure to facilitate commuting between villages and urban centers, enabling youths to access employment opportunities in cities while residing in their native villages. This comprehensive approach, championed by Gadkari, aims to foster balanced development and inclusive growth across rural and urban areas alike.

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Housing Prices Surge by 20% in Major Indian Cities Over Past Two Years

Amidst a backdrop of positive economic indicators, housing demand has soared, propelling property prices upwards by approximately 20% across India’s top eight cities over the last two years, according to a joint report by Credai, Colliers, and Liases Foras.

The report encompasses Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune.

Bengaluru, Delhi NCR, and Kolkata have experienced the most significant spikes in average housing prices, registering an impressive 30% surge in 2023 compared to 2021 levels. This surge is driven by heightened demand, particularly in the mid and luxury housing segments.

In specific figures, Bengaluru saw a 21% year-on-year increase in 2023, followed by Delhi-NCR with a 9% rise and MMR with a 4% increase.

Despite a substantial influx of new supply, the unsold inventory notably decreased in 2021 and remained relatively stable until the end of 2023. Both 2022 and 2023 witnessed a surge in new property launches, particularly in the mid and luxury segments, across major cities.

Cities like Bengaluru, Hyderabad, Kolkata, MMR, and Pune experienced a 2-2.5 times increase in new supply over the past two years, reflecting robust market activity and enhanced developer-market confidence.

Boman Irani, President of CREDAI National, anticipates further momentum in housing demand and supply in 2024, not only in the top eight cities but also in Tier II and III regions.

According to Badal Yagnik, CEO of Colliers India, the real estate market saw a remarkable year in 2023, marked by significant growth in high-end and luxury segments, infrastructure-led development, and deeper price discovery across various markets.

Pankaj Kapoor, Managing Director of Liases Foras, asserts that the current real estate landscape is most productive when sales, supply, and prices experience balanced growth, emphasizing the importance of non-speculative price rises for a healthy market.

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Uttar Pradesh’s 51 Cities to Embrace New GIS-Based Master Plan

In a significant move towards organized urban development, Uttar Pradesh is gearing up to implement a novel master plan system based on Geographic Information System (GIS) across 51 cities in the forthcoming fiscal year.

The state’s housing department has initiated inquiries into the progress of GIS-based master plans currently in preparation by relevant regulatory bodies.

Out of the total 59 cities earmarked for structured development, the government greenlit GIS master plans for eight cities last year. Presently, the plans for 28 cities are in the final stages of review, while those for 23 others are in the outlining phase.

A crucial tool for effective land management, the master plan precisely delineates land usage within regulated areas. A senior official revealed that the plans for the 28 cities are slated for final approval within two weeks, with the remaining 23 cities set to finalize theirs by March 31. Notably, Ghaziabad, Kanpur, and Prayagraj are among the key cities yet to finalize their plans.

However, Lucknow’s master plan is on hold pending the notification of the Uttar Pradesh State Capital Region (SCR), which will necessitate a revised framework with Lucknow city at its core.

Regulatory authorities have been instructed to highlight roads with widths of 24 meters or more, depict future ring road alignments, and designate greenbelts exceeding 5 hectares in the master plan.

Nitin Ramesh Gokarn, Additional Chief Secretary of the housing department, emphasized the necessity for feedback from the chief town and country planner before the plans are submitted for state approval.

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Odisha Extends PMAY-Urban 100-Day Challenge Deadline to March 31

Odisha’s housing department extends the PMAY-Urban 100-Day Challenge deadline to March 31, fostering competitive spirit among urban local bodies to complete housing projects.

The housing and urban development department of Odisha has announced an extension of the deadline for the ‘100 Days Challenge’ for urban local bodies (ULBs) to complete houses under the Pradhan Mantri Awas Yojana-Urban (PMAY-U). The new deadline is set for March 31, extending from the earlier date of March 4.

Launched on November 24, 2023, the challenge aimed to incentivize and reward the best-performing ULBs for successfully grounding housing projects under PMAY-U. The objective was to instill a competitive spirit among ULBs, urging them to complete sanctioned houses within a time-bound framework before the scheme’s closure in December of the same year.

Debasis Singh, Director (housing), communicated the extension to all municipal commissioners and executive officers, citing the need to accommodate various central and state programs concurrently running during the challenge period, causing schedule overlaps. As a result, the ongoing 100 Days Challenge is prolonged until the end of the financial year to address these constraints effectively.

In adherence to the challenge, 115 ULBs in Odisha are categorized based on the number of housing units in progress. Category A comprises ULBs with over 750 housing units, category B includes those with units ranging between 250 and 750, while category C consists of ULBs with less than 250 units.

The extension allows ULBs additional time to meet the challenge’s objectives and complete housing projects under PMAY-U. It underscores the state government’s commitment to ensuring timely and efficient implementation of urban housing initiatives, ultimately benefiting citizens across Odisha.

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Indian Cricketer Yashasvi Jaiswal Acquires Rs 5.4 Crore Apartment in Mumbai’s Bandra

Indian cricket prodigy Yashasvi Jaiswal, currently making waves on the cricket field, has recently made headlines for his impressive performance. Despite being just 22 years old, he has already displayed remarkable prowess, notably surpassing the experienced James Anderson in a recent match. With two consecutive double centuries in the ongoing Test series against England, Jaiswal’s meteoric rise continues to captivate fans. Alongside his on-field exploits, news has surfaced of his recent real estate investment in Mumbai.

Jaiswal has acquired a luxurious apartment in X BKC for a staggering sum of Rs 5.4 crore. According to documents obtained by Liases Foras, the 1,100-square-foot flat situated in Wing 3 of a building in Bandra (East) was officially registered on January 7, as reported by TOI. The transaction was finalized at a rate of Rs 48,499 per square foot. Speculations regarding this purchase had been circulating for some time, and Jaiswal expressed excitement about the move around the time of his Test debut.

However, Jaiswal’s journey to success has been anything but conventional. Originally hailing from a village in the Badohi district of Uttar Pradesh, he ventured to Mumbai as a young boy in pursuit of his cricketing dreams. In those early days, he resided in a tent at Azad Maidan, illustrating his unwavering determination and dedication to the sport. Notably, he also extended a helping hand to a local vendor selling pani puri during his initial struggles. These anecdotes from his humble beginnings often resurface on social media platforms, underscoring the remarkable journey of this cricketing sensation.

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Maharashtra Government Unveils New Sand Mining Policy, Introduces Online Sand an System

In a bid to modernize sand procurement practices and combat illegal extraction, the Maharashtra state cabinet has announced a significant revision to its sand mining policy, now facilitating the online sale of sand by the government. This initiative marks a departure from the previous policy, which granted exclusive rights to the government for sand excavation and sales through designated depots.

Under the revamped policy, sales rates will be set on a no-profit-no-loss basis, ensuring equitable pricing for consumers. A consolidated tender will be solicited for the excavation, transportation, and establishment of depots, streamlining the entire sand procurement process.

For the Mumbai metropolitan region, the royalty fees are fixed at Rs 1200 per brass (equivalent to Rs 267 per metric ton), while regions outside Mumbai will incur a rate of Rs 600 per brass (or Rs 133 per metric ton). Buyers will be responsible for covering transportation costs from the designated depots.

The primary objective of the sand mining policy revision is to clamp down on illegal sand extraction, particularly from riverbed areas, and prevent its clandestine sale in the black market. Additionally, the policy aims to curb private entities’ unauthorized sand extraction activities and the detrimental impact of heavy trucks transporting sand on rural roads.

By actively participating in sand sales, the government anticipates a reduction in prices, thereby lowering overall construction costs for stakeholders in the industry.

To facilitate the implementation of the revised policy, depots will be established in all districts for sand storage and sale. A technical committee at the tehsil level will oversee riverbed excavation activities, while a committee chaired by the district collector will manage the tendering process and sales operations. Officials assure adherence to the directives of the National Green Tribunal to ensure environmental sustainability in sand mining activities.

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