Thursday, March 1, 2012

Officials held for property fraud - Hindustan Times

A prime property in posh Greater Kailash-1 in south Delhi worth crores of rupees was sold by illegally tampering with papers of another property located in north Delhi’s Malka Ganj. The actual owner of the GK-I property, who lives in the USA, came to know of the fraud when the buyers came
to the house to take possession. The fraud was perpetrated in connivance with revenue department officials, an inquiry has revealed.
The revenue department has suspended the Kashmiri Gate sub-registrar and the record keeper. A police complaint has also been lodged and they have been arrested.http://www.hindustantimes.com/Images/HTEditImages/Images/08-02-12-metro5.jpg
The GK property, N-128, belongs to Ram Avtaar Aggarwal. One Purshottam Oak sold it to Raj Singh Malik by forging the sale deed documents of a property in Malka Ganj.
Using the same forged documents, Raj Singh Malik had sold the property to a private developer whose papers had been registered at the Mehrauli sub-registrar office.
The genuine documents of the Malka Ganj property were tampered with by inserting the name and address of the GK I property in connivance of the revenue department officials.
The matter came to light when the person who had purchased the property went to GK I to take possession of the house.
“No one would have noticed that the papers were forged. All entries regarding the property had been done as per law. They had got hold of genuine sale deeds of a Malka Ganj property, which had been duly registered in the Kashmiri Gate sub-registrar office. When the property was being re-sold, the Mehrauli verified the documents to establish the trail from the Kashmiri Gate office and as all papers were in place, it registered it,” said a senior Delhi government official.
The legitimate owner then approached the Delhi government.
“When we scrutinised the document, we found out that the GK-I property owner had not sold the property to anyone. Rather, Raj Singh Malik had forged the documents with an intention of selling the property,” added the official.
“We have taken stern action and have suspended the officers. This will act as a deterrent for other officers too,” said Vijay Dev, Secretary (revenue), Delhi government.

मुंबई, कोलकाता में मकान के दाम घटे, दिल्ली में तेजी- Navbharat Times

मुंबई, कोलकाता में मकान के दाम घटे, दिल्ली में तेजी- Navbharat Times:

नई दिल्ली।। मुंबई और कोलकाता में चालू वित्त वर्ष की तीसरी तिमाही में रिहायशी मकान की कीमत में कमी देखी गई, जबकि दिल्ली में कीमत में तेजी दर्ज की गई। राष्ट्रीय आवास बैंक ( एनएचबी ) के घरों के बारे में जारी हाल के सूचकांक में यह बात कही गई है। इसके अनुसार कोलकाता और मुंबई में मकान की कीमत वित्त वर्ष 2011-12 की अक्टूबर-दिसंबर तिमाही में इससे पूर्व तिमाही की तुलना में 0.5 % घटी।

अन्य शहरों में सर्वाधिक गिरावट कोच्चि में दर्ज की गई, जो 15.5 % रही। इसके बाद क्रमश: हैदराबाद 6 % ,जयपुर 1.5 % और पटना 0.7 % का स्थान रहा। एनएचबी के अनुसार जिन शहरों में घरों की कीमत में तेजी दर्ज की गई, उसमें सूरत 9.4 % , चेन्नै 9.2 % , पुणे 8.9 % , दिल्ली 8.4 % और बेंगलुरु 7.5 % शामिल हैं। सूचकांक तैयार करते समय 15 शहरों में संपत्ति के दाम में उतार-चढ़ाव पर गौर किया गया।

घर खरीदने का यही है राइट टाइम- Navbharat Times

घर खरीदने का यही है राइट टाइम- Navbharat Times:

रवि तेजा शर्मा / सोबिया खान
अगर आप घर खरीदने की सोच रहे हैं तो देर मत कीजिए। इस साल प्रॉपर्टी के दाम कम नहीं होंगे। बैंक ऑफ अमेरिका मेरिल लिंच की हालिया रिपोर्ट में यह बात कही गई है और इसके संकेत भी मिल रहे हैं। गुड़गांव और नोएडा में प्रॉपर्टी खरीदने वालों की दिलचस्पी हाल में बढ़ी है। गुड़गांव में पिछले दो साल से हर तिमाही में एवरेज 5,200 घर बिके। इस बीच हर तिमाही में एवरेज 6,100 घर लॉन्च हुए। नोएडा में प्रॉपर्टी की डिमांड गुड़गांव के मुकाबले कुछ ज्यादा है।

देश भर में 6,000 से ज्यादा डेवलपर्स की नुमाइंदगी करने वाले कन्फेडरेशन ऑफ रियल एस्टेट डिवेलपर्स असोसिएशन ऑफ इंडिया (क्रेडाई) का कहना है कि दाम कम नहीं हुए हैं, इसके बावजूद सेल्स बढ़ रही है। क्रेडाई के प्रेजिडेंट ललित कुमार जैन ने बताया, ' पहला मौका मिलते ही डेवलपर्स कीमत 10-30 फीसदी बढ़ा देंगे। '

2009 में स्लोडाउन के वक्त कुछ शहरों में प्रॉपर्टी की कीमतें पीक पर पहुंच गई थीं। इससे सेल्स घटने पर बिल्डर मुसीबत में फंस गए थे। आज ऐसा नहीं है। डेवलपर्स वाजिब कीमत पर प्रॉजेक्ट लॉन्च कर रहे हैं। महंगाई के कंट्रोल में आने के बाद इंटरेस्ट रेट में कटौती की उम्मीद भी बढ़ रही है। सेंट्रल बैंक ऑफ इंडिया और बैंक ऑफ महाराष्ट्र ने तो पॉलिसी रेट में कमी से पहले ही लोन कुछ सस्ते कर दिए हैं। इस वजह से भी रियल एस्टेट मार्केट में गर्मी बढ़ रही है।

शोभा डिवेलपर्स के मैनेजिंग डायरेक्टर जे सी शर्मा ने बताया, ' 2008-09 की तुलना में अपार्टमेंट की सेल्स काफी अच्छी है। नए प्रॉजेक्ट लॉन्च करने का फायदा मिल रहा है। अगर इंटरेस्ट रेट कम होते हैं तो सेल्स में और सुधार होगा। '

गुड़गांव में अभी करीब 19,000 ऐसे घर हैं, जो नहीं बिके हैं। लियासेज फोरास रियल एस्टेट रेटिंग ऐंड रिसर्च के फाउंडर पंकज कपूर ने कहा, ' नए रियल एस्टेट प्रॉजेक्ट की सेल्स अच्छी है, लेकिन पुराना स्टॉक नहीं बिक रहा। 'देश के टॉप 6 रियल एस्टेट माकेर्ट्स में पिछले दो क्वार्टर में नए प्रॉजेक्ट लॉन्च होने से 125 मिलियन वर्ग फुट एरिया जुड़ा है। एनसीआर में इससे करीब 31 मिलियन वर्ग फुट एरिया जुड़ा है। हालांकि, कुछ बड़े शहरों में घर नहीं बिकने से इनमें पैसा लगा चुके इक्विटी फंड परेशान हैं। जिन बैंकों ने ऐसे प्रोजेक्ट के लिए लोन दिया है, वे भी मुसीबत में फंस गए हैं। ये बिल्डरों से प्रॉपर्टी की कीमतें कम करने के लिए कह रहे हैं।

Couple strangle landlady, chop her body to pieces - Hindustan Times

Couple strangle landlady, chop her body to pieces - Hindustan Times:

The young couple was unable to pay their rent on time and was hence subjected to regular verbal abuse by their landlady. But when the old lady started swearing against their newborn, the couple decided that enough was enough.

They then hatched a plot to eliminate the 60-year-old landlady Bishno Devi.

As per plan they strangled the old lady at her northwest Delhi's Bhalswa Dairy residence. The man, Sachin, 22, also chopped off her head and arms which the couple later tried to burn, police said.

They then stuffed the headless, armless corpse in a gunny bag and dumped it near her home. Other parts of her body were dumped at several isolated places, said the police.

Police arrested the couple twenty-eight days after they murdered the landlady.

Sachin, who works as a security guard, and his wife, whose name was not disclosed by the police, lived in a room at the victim's house on rent.

According to a senior police officer, Sachin, in an inebriated condition, strangled Devi to death on February 1, before fleeing with his wife and baby.

"Eight days later, the couple returned to the victim's house to check whether local residents had found out about her murder or not. They were surprised to find the body still lying inside the house," said the senior officer.

"Initially, they tried to set her body on fire, but when they failed, Sachin chopped her body parts and dumped them at deserted places," he added.

Romil Baaniya, additional DCP (northwest) said the murder came to light on February 11, when somebody spotted the body.

Sexier still: Osho bosses move on from free sex to free land | Firstpost

Sexier still: Osho bosses move on from free sex to free land | Firstpost:

Sexier still: Osho bosses move on from free sex to free land

Oshoworld.com

By Abhay Vaidya

Pune: Even 22 years after his death, spiritual mystic Osho, or Bhagwan Rajneesh, continues to spark controversy. This time, the issue is not sex, which always shadowed his name, but something even sexier: the fate of prime real estate belonging to the Osho International Foundation (OIF) at Koregaon Park, Pune, estimated at a value of around Rs 1,000 crore.

In recent weeks, what has grabbed the attention of the public – especially the community of his followers – is the incredulous gifting of prime properties by the OIF to an unknown trust in New Delhi, called the Darshan Trust.

The Osho Commune, renamed Osho International Meditation Resort after his death, is located at Koregaon Park along with other Osho properties spread on 25-30 acres of land and controlled by the OIF.

At a time when politicians, builders, generals and brigadiers are found involved in one land-grab scam after another, here is this extraordinarily generous OIF which seems to be on a property-gifting spree, claiming that maintaining and managing these properties has become a burden.

Opposing them are another set of Osho followers who have accused the OIF trustees of maladministration and complained to the Charity Commissioner, Mumbai.

The matter was exposed in recent months by two, long-time followers of Osho, Yogesh Thakkar (Swami Prem Geet) and Kishor Raval (Swami Prem Anadi), who discovered OIF’s application dated 19 September 2011, to the Charity Commissioner, Mumbai, under section 36(1)(a) of the Bombay Public Trusts Act, 1950.

The battle between factions of his followers is not new. Oshoworld.com

This application, signed by OIF trustee Mukesh Sarda, proposed to gift six units in Little Woods Coop Housing Society, plot number 22, Koregaon Park, to New Delhi-based Darshan Trust with its registered office at A-34, Defence Colony.

Sarda’s application on behalf of OIF said that the Darshan Trust had approached OIF “with a request for some space to accommodate the teachers and participants of its activities in Pune” and that the matter was discussed in detail at a meeting of the trustees on 14 August 2011.

As per documents submitted by the OIF to the Charity Commissioner, Sarda stated at this meeting that the the 6,611-square-foot property was “excess space”, not needed by the OIF. He also said that the OIF was finding it unaffordable to maintain and repair this property as it was not deriving any income from it.

The OIF trustees then decided unanimously at the 14 August meeting to donate the property to Darshan Trust subject to the approval and sanction of the Charity Commissioner. The condition stipulated was that the stamp duty, registration and other expenses towards “the alienation of the property” be borne by Darshan Trust.

Armed with documents obtained under the Right to Information Act, 2005, Thakkar and Raval questioned the gift proposal and filed a petition with the Charity Commissioner, challenging the OIF application. They were soon joined by another senior Osho follower, Nitin Phulphagar (Swami Nitin Bharati), in challenging various activities of the OIF, even as Osho followers within and outside the country began extending support.

While in the midst of this battle, Thakkar and Raval were shocked when they stumbled upon a 17 March 2011 decision of Charity Commissioner MK Chaure approving another OIF proposal to gift plot CTS No 3, Koregaon Park, Pune to the same Darshan Trust.

Measuring 5,387 sq m, this plot is located in Lane No 1 Koregaon Park, and was being used as a parking lot for the Osho Meditation Resort. According to the Osho disciples, the market value of this plot is estimated at more than Rs35 crore.

The reasons given by the OIF for gifting this property (excess space not required) and the conditions laid down for the transaction (Darshan Trust to bear cost of stamp duty, etc.) were similar to the previous application.

The OIF has never felt it necessary to explain these controversial gift deeds or reply to criticism. Whenever asked for an explanation by this journalist, OIF’s trustee and member (management team) Sadhana Belapurkar has restricted herself to saying that “the matter is subjudice.”

Another issue that worries Osho’s followers and admirers concerns his samadhi inside the meditation resort. After he was cremated in Pune on the night of 19 January 1990, Osho’s ashes were collected and put in an urn which was buried in his bedroom. This became his Samadhi, beautified with wall-sized glass windows, marble walls and flooring and an impressive circular chandelier.

The samadhi has a special significance in eastern cultures and naturally Osho’s followers and others want the sanctity of this place respected for all times.

However, the OIF, controlled by a group of his foreign followers, has a different view. Represented by Sadhana Belapurkar (also known as Amrit Sadhana), the OIF management went so far as to say in an interview to this journalist that it was “a mistake” on their part to use the word “samadhi”. As she explained, “We do not call it a samadhi. It is called Chuang Tzu (hall) where Osho gave his first lectures after arriving in Pune in 1974. As per Osho’s wishes, his ashes were put in an urn and buried there.”

Like all samadhis in India, Osho’s admirers who respect him for his many incisive commentaries on spiritualism, his emphasis on meditation and acceptance of sexuality, want the samadhi to be made accessible to the public. That has not happened so far.

These and many other issues were raised by Thakkar and Raval with the Charity Commissioner.

On 7 December 2011, Thakkar, Raval and Phulphagar applied for interim relief to the charity commissioner through an application alleging irregularities by the OIF management. The application alleged that some OIF trustees had formed a new company “Osho Multimedia & Resorts Pvt Ltd” in which they had vested interests. Those named as opponents in the application included Mukesh Kantilal Sarda (Swami Mukesh Bharti), Devendra Singh Devol, Sadhana Belapurkar, Lal Pratap Singh; Inner Circle Chairman Michael Byrne (Swami Jayesh); Inner Circle Vice-Chairman George Meredith alias John Andrews (Swami Amrito); and Inner Circle member Darcy Byrne (Swami Yogendra). (The Inner Circle is an informal group of Osho community individuals who run the show at OIF).

On another front, Thakkar and Raval have created a website www.oshowork.org to gather support for their crusade for transparency in the affairs of the OIF.

This is by far, the biggest battle between the opposing factions of Osho’s followers in recent years. The last big clash was the “copyright battle” which was lost by the OIF some years ago in its attempt to claim intellectual property rights over the word “Osho” and everything attributed to the spiritual master.


Novel furniture material - Economic Times

Novel furniture material - Economic Times:

Talk furniture, think wood. This used to be the mantra. Today, more than ever, furniture designers are exploring materials that can replace wood or probably be used along with it.

"Let's just say that there is a growing awareness that wood and its derivative products have been substantially over-exploited in the past 100 years for the production of many items, including furniture.

http://articles.economictimes.indiatimes.com/images/pixel.gifSo, as a consequence, people are looking at other materials, equally strong, durable and moldable into the desired shapes. Something which is also greener and environment friendly which will be accepted by a more discerning and educated segment of customers.

This trend has started with high-end products, where the client is prepared to pay to have the newest and the most advanced objects in their homes," says Nicola Obert, CEO and managing director of a store.

ALTERNATE MATERIALS

"Along with plastic derivatives and high-tech composite materials, glass and steel (preferably coated, anodised and chromed) are also becoming common in modern furniture factories, where design and technology can go hand in hand as part of their brands' philosophy," says Obert.

"Alternatives to wood are leather, glass, mirror, mild steel, stainless steel, brass, natural or artificial stone, cement, plastic, acrylic, p o ly - carbonate, foam, cardboard and polyrattan," says Shilpa Kalanjee Pastala, managing partner at a store. Kavita Wadhavkar explains that upholstered furniture (with a steel framework) is very popular.

"What is hot right now are pieces that resemble cane furniture but are actually plastic derivative. These look elegant outdoors and are also weather proof," she says. The sky is the limit for the creative. "If you want to go really whacky, one can use corrugated cardboard and ropes to make furniture. Inflatable furniture too has its own place. It is easy to shift about," says Wadhavkar.

USES

"Apart from the obvious aspect of preserving our trees and the environment in general, glass and metal alloys are very extensively used in modern furniture and they are typically not affected by humidity and other climate conditions. Moreover, they can be shaped by industrial tools that work in a controlled environment and can then be more easily replicated. The advantages of plastic and composite materials are the broad range of shapes that can be created from a simple product idea.

"Even aluminium has been recently utilised to obtain lighter product structures for home use.That was possible because of its largescale application in other industries ," explains Obert. "Depending on usag and application ,different materials have different advantages over wood.

Some advantages are practical in nature whereas some advantages are aesthetic ," says Kalanjee Pastala. However, if the look of the home is classy and old-world , you may not want to do away with wood. Ultimately, it also depends on the overall look of the house.

Education loan defaults becoming a problem

Education loan defaults becoming a problem:

नई दिल्ली [जागरण ब्यूरो]। ईएमआइ के भारी बोझ तले दबे लोगों की मासिक किस्तों में अब कमी आएगी। दो वर्ष के लंबे अंतराल के बाद ब्याज दरों में कटौती का सिलसिला शुरू हो गया लगता है। सरकारी क्षेत्र के तीन प्रमुख बैंकों ने होम लोन की दरों में कटौती की है तो देश के सबसे बड़े बैंक भारतीय स्टेट बैंक [एसबीआइ] ने शिक्षा कर्ज को सस्ता किया है। वैसे कर्ज की दरों में यह कटौती बहुत थोड़ी है, लेकिन जानकारों की मानें तो अन्य बैंक भी अगले कुछ दिनों के भीतर कर्ज सस्ता करने की राह पर जा सकते हैं।

सेंट्रल बैंक ऑफ इंडिया और बैंक ऑफ महाराष्ट्र ने होम लोन की दरों में एक चौथाई फीसदी की कटौती करने का एलान किया है। साथ ही इन बैंकों ने यह भी कहा है कि वे कोई प्रोसेसिंग शुल्क भी अब होम लोन ग्राहकों से नहीं लेंगे। सेंट्रल बैंक से 30 लाख रुपये तक के होम लोन 25 वर्ष की परिपक्वता अवधि के लिए 10.75 फीसदी की दर पर लिए जा सकेंगे। बैंक ऑफ महाराष्ट्र पांच वर्ष के लिए 25 लाख रुपये तक के होम लोन 10.60 फीसदी की सालाना दर पर देगा। प्रोसेसिंग शुल्क खत्म होने से भी ग्राहकों को 10 हजार से लेकर 15 हजार रुपये तक की बचत होगी। इसके पहले यूनियन बैंक ऑफ इंडिया ने भी होम लोन की दरों में मामूली कटौती की थी।

आने वाले दिनों में ब्याज दरों में कटौती की संभावना को मजबूत करते हुए एसबीआइ ने एजूकेशन लोन की दरों में एक फीसदी तक की कटौती करने का फैसला किया है। इसका एलान इस हफ्ते किया जाएगा। सूत्रों का कहना है कि बैंक चार लाख रुपये तक के एजूकेशन लोन पर ब्याज की दर चौथाई फीसदी कम करते हुए इसे 11.75 प्रतिशत कर देगा। चार से साढ़े सात लाख रुपये के लोन पर ब्याज की दर एक फीसदी तक घटाई गई है। एसबीआइ होम लोन की दरें भी घटाने पर गंभीरता से विचार कर रहा है।

दरअसल इस साल जनवरी में केंद्रीय बैंक की तरफ से नकद आरक्षित अनुपात [सीआरआर] में कटौती करने के बाद से बैंकों के पास पर्याप्त मात्रा में फंड बच रहे हैं। बाजार में मांग नहीं होने से बैंकों को घाटा हो रहा है। इसलिए वे कर्ज की दरें घटाकर मांग बढ़ाने की कोशिश कर रहे हैं। सीआरआर जमाओं का वह हिस्सा है, जिसे बैंकों को अनिवार्य रूप से आरबीआइ के पास रखना होता है।

औद्योगिक सुस्ती के गहराने की वजह से आरबीआइ पर ब्याज दरों को कम करने का दबाव बढ़ा है। माना जा रहा है कि मार्च, 2012 में जब केंद्रीय बैंक अंतिम मध्यावधि तिमाही समीक्षा पेश करेगा, तब सीआरआर में और कमी करेगा। अधिकांश बैंक उसके बाद ही ब्याज दरों में कमी का फैसला करेंगे। ग्लोबल निवेश सलाहकार सिटी बैंक ने अपनी रिपोर्ट में कहा है कि वर्ष 2012 में आरबीआइ ब्याज दरों में एक फीसदी तक कमी कर सकता है। इसे अर्थव्यवस्था की सुस्ती दूर करने के लिए जरूरी माना जा रहा है।

कैसे बने कमी के आसार

1. अर्थव्यवस्था की रफ्तार लगातार हो रही है सुस्त

2. औद्योगिक क्षेत्र की वृद्धि दर घटकर रसातल में आई

3. महंगा होने से होम लोन लेने वालों की संख्या घटी

4. बैंकों के पास पर्याप्त फंड, कर्ज देना हो गया जरूरी

5. थोक मूल्यों पर आधारित महंगाई की दर भी नरम पड़ी

जॉइंट प्लॉट है तो नक्शा भी जॉइंट पास होगा - Navbharat Times

जॉइंट प्लॉट है तो नक्शा भी जॉइंट पास होगा - Navbharat Times:

नई दिल्ली :
जिनके पास डीडीए के छोटे-छोटे दो प्लॉट हैं लेकिन वे दोनों को मिलाकर घर नहीं बना पा रहे हैं, उन्हें थोड़ा इंतजार करना होगा। डीडीए मास्टर प्लान में बदलाव कर इस प्रस्ताव को जोड़ने की तैयारी में है ताकि नक्शा पास हो जाए। यानी अगर कोई दो प्लॉट को मिलाकर घर बनाना चाहता है तो उसी तरह के नक्शे को पास किया जाए। अभी ऐसा प्रावधान न होने से हजारों लोगों को दिक्कत झेलनी पड़ रही है।

नियम के मुताबिक दो रेजिडेंशल प्लॉट का नक्शा एकसाथ पास नहीं हो सकता। अलग-अलग प्लॉट के लिए अलग-अलग नक्शा बनाना होगा ना कि दोनों को मिलाकर। करीब ढाई साल पहले एमसीडी ने तीन महीनों के लिए जॉइंट नक्शे पास किए थे। उस वक्त एमसीडी ने करीब 40 प्लॉट का नक्शा पास किया था जो दो प्लॉट को मिलाकर बनाए गए थे। तीन महीने बाद इसे बंद कर दिया गया। उस वक्त जिन लोगों ने इस उम्मीद के साथ अपने प्लॉट के साथ वाला प्लॉट भी खरीदा था कि वह घर बना लेंगे वह तब से आज तक इंतजार ही कर रहे हैं। ऐसे लोगों की संख्या सबसे ज्यादा रोहिणी में है। यहां डीडीए ने 26 मीटर, 32 मीटर, 48 मीटर और 60 मीटर के प्लॉट दिए हैं। जिन लोगों के पास यह प्लॉट हैं उनका सिर्फ एक प्लॉट में घर बनाकर गुजारा नहीं हो सकता।

प्लॉट मालिक राम अग्रवाल ने बताया कि मेरा 32 मीटर का प्लॉट है। जिस वक्त एमसीडी ने दो प्लॉट का एक साथ नक्शा पास करना शुरू किया था उस वक्त मैंने अपने प्लॉट से लगा दूसरा प्लॉट भी ले लिया था ताकि मिलाकर इतना बड़ा घर बन जाए जिसमें पूरी फैमिली साथ रह सकें। लेकिन एमसीडी ने फिर नक्शा पास करना बंद कर दिया। उस दौरान कई लोगों ने दो प्लॉट मिलाकर घर बना लिए। रोहिणी में ही करीब 25000 ऐसे घर बनाए गए हैं। अब नियम के मुताबिक वह अवैध हो गए हैं। उन्हें डर लगा रहता है कि कहीं कोई कार्रवाई न हो जाए।

कर्ज वसूली अमानवीय न हो: RBI- Navbharat Times

मदुरै।। भारतीय रिजर्व बैंक ने कहा है कि बैंकों को यह सुनिश्चित करना चाहिए कि कर्ज की वसूली के समय चूककर्ता (डिफाल्टर) कर्जदार को शर्मिंदगी न झेलनी पड़े।

रिजर्व बैंक के प्रमुख कानूनी सलाहकार जी. एस. हेगडे ने शनिवार रात यहां एक संगोष्ठी में यह बात कही। उन्होंने कहा कि बैंकों को धन की वसूली के लिए ट्रेन्ड एजेंट रखने चाहिए और यह इंपॉर्टेंट है कि कर्जदाताओं से 'मानवीयता' से पेश आया जाए।

उन्होंने 'सिक्युरिटीजेशन ऐंड रिकंस्ट्रक्शन ऑफ फाइनैंशल ऐसेट ऐंड इन्फोर्समेंट ऑफ सिक्युरिटी इंटरेस्ट ऐक्ट 2002' पर इस संगोष्ठी में कहा कि यह कानून किसी कर्जदार के विफल रहने पर प्रॉपर्टी की नीलामी की अनुमति देता है ताकि बैंक अपनी गैर निष्पादित आस्तियां कम कर सकें। लेकिन बैंकों को अपने कर्जदार से मानवीयता के आधार पर पेश आना चाहिए।

RBI asks banks not to overstate value of realty | Track2Realty || India's real estate e-newspaper

The Reserve Bank of India (RBI) on Friday came hard on banks for overstating realisable value of real estate properties they finance by including charges such as stamp duty and other levies. The RBI said the banks should not include these charges in the cost of the housing property they finance so that the effectiveness of loan to value (LTV) norms are not diluted.

“It has been brought to our notice that banks adopt different practices for deciding the value of the house property while sanctioning housing loans. Some banks include stamp duty, registration and other documentation charges in the cost of the house property,” the RBI said in a circular.

The RBI had in 2010 issued guidelines directing the lenders to provide loans only up to 80 % of the cost of property.

As per the rule, a homebuyer will have to arrange at least 20% of the property value on his own before seeking loan from a bank.

Prepaid meters: Regulators seek to clear legal hurdles

Prepaid meters: Regulators seek to clear legal hurdles:

The country’s power regulators have intensified their bid to encourage prepaid metering across the country, as they launched an initiative to seek the opinions of the Attorney General and Solicitor General to remove legal hurdles in the matter.

The Forum of Regulators (FoR), citing experiences in Maharashtra, West Bengal, Gujarat and Delhi, said the provision regarding the notice period to disconnect power was the primary bone of contention. This comes under Section 56 of the Electricity Act, 2003.

Prepaid meters are an alternative metering and billing arrangement that require customers to pay for electricity before it can be consumed. These meters can get recharged through coupons provided by meter supplier. There would be in-house display units which would keep check on consumption and credit balance. Besides, these meters have an in-built facility of credit alarm sensitising consumers about low credit. Plus, they have auto disconnection wherein the supply is automatically discontinued in case the consumer exhausts the credit limit or the load exceeds the specified limit.

FoR chairman Pramod Deo, who also heads the Central Electricity Regulatory Commission, said at the meeting of the regulators it was agreed that states could try to target groups of consumers, which include government and public-sector undertakings, temporary connections and consumer’s premises on the rent for introduction of prepaid meter.

“The CEA (Central Electricity Authority) will come out with specific regulations or guidelines on pre-paid metering and development of common platform for vending infrastructure,” he told Business Standard.

MahaVitaran, or the Maharashtra State Electricity Distribution Company which has already launched pre-paid metering, claims it has been a success. MahaVitaran managing director Ajoy Mehta said pre-paid metering currently applied to second-home owners and consumers with temporary connections. “Consumers, who have gone for pre-paid meters are quite happy,” he said. “MahaVitaran will further increase the consumers going in for pre-paid metering.”

An FoR official said the basic question that arises was whether or not the implementation of prepaid metering by a utility violates Section 56(1)(a)(b) of the Electricity Act, 2003. “Is there any provision in the Act that prevents the utility/licensee/regulator to mandatorily enforce supply through prepaid meters on the consumers? That is what we want to know,” he pointed out.

Thus, FoR has decided to seek the opinions of the Attorney General and Solicitor General to remove that uncertainty in the implementation of pre-paid metering, the official said. “Prepaid meters have been, to begin with, given in selected areas and classes of consumers. This is not violative of the Electricity Act,” he claimed.

No sharp increase in rent, rules HC

No sharp increase in rent, rules HC:

In a relief to a big population living in or running their businesses from rented accommodations in the Capital, the Delhi High Court has restricted the landlords from arbitrarily increasing the rent.

The court has ruled that the landlords cannot increase the rents in line with inflation or cost price index. A division bench headed by acting Chief Justice AK Sikri maintained that the 10 per cent increase in rent every three years provided under the Delhi Rent Act may be perceived as inadequate, but that is no reason to provide for a higher or more frequent increase. The court’s observation came while dismissing a plea of a landlord seeking a direction to increase the monthly rent of his tenant from Rs 150 to Rs 10,000 per month, citing inflation as a reason.

“A landlord of a premises governed by the Delhi Rent Control Act, 1958 is entitled to have increase(s) in rent only in accordance with the rules and not otherwise. Such a landlord cannot approach the civil court contending that the rent stands increased or should be increased in accordance with the inflation or cost price index,” the bench also comprising Justice Rajiv Sahai Endlaw said. “Even though the 10 percent increase in rent every three years provided under the Delhi Rent Act may be perceived by some as inadequate, that is no reason for this court to provide for a higher or more frequent increase,” the judges said. The court refused to interfere with the existing rules, saying it was the duty of the legislature. “The same (amendment of rules) falls in legislative domain. This court cannot step into the shoes of the legislature,” the bench said.

Expressing its serious concerns over the practice of increasing rent for mere monetary profit, the court said it would result in reducing the Rent Control Legislation to a ‘dead letter’ and defeating its purpose. “Owing to the prohibition against eviction, the landlord is not entitled to evict the tenant, but is nevertheless entitled to recover profits…the same would result in reducing the Rent Control Legislation to a dead letter and defeating its purpose. The same cannot be permitted. Thus, in the absence of a provision in the statute, it cannot be held that a landlord is entitled to market rent from a protected tenant,” the court held.

“The Rent Control Legislations enacted in the pre-independence and immediately after independence era to prevent exploitation of tenants provided a statutory mechanism enabling a tenant to pay rent at a standard rate as fixed by the rent controller which was generally lower than the prevalent market rent. The rent agreed between the landlord and the tenant binds both of them and neither is entitled to unilaterally vary the same,” the judges said in the judgement.

According to Vaid, the petitioner, he had let out his property to one Uttam Chand in November 1987 at a monthly rental of Rs 150, but Chand has not been paying rent since July 2009 after it was increased to Rs 10,000 per month. He submitted that after taking into account inflation and fall in the value of rupee, the value of the rent of Rs 150 would not be less than Rs 10,000. He contended that even the Municipal Corporation of Delhi (MCD) has started claiming house tax on the basis of Unit Area System. The High Court, however, said that the rent could be increased by the landlord every three years by 10 per cent as per section 6 read with Section 8 of the Delhi Rent Act.