Ensuring transparency in real estate
Oct 30, 2012
Source : The New Indian Express


With multi-rises mushrooming in the City, the State Information Commission (SIC) has directed the Bhubaneswar Development Authority (BDA) to publish details about major housing projects before giving them a go-ahead.
 In an order which could be of immense relevance to the citizens, the Commission observed that such a measure would give people adequate opportunity to air their grievances with the development authority.
 Invoking Section 4(1) (c) and (d) of the RTI Act which stipulates that every public authority is duty-bound to publish all relevant facts while formulating important policies and announcing the decisions which affect public, the panel felt that publishing the details of the project is necessary in view of the large-scale multi-storey and high-rise residential buildings being built in and around the City.
 The SIC order came after the BDA sat over the information sought by one Somesekhar Das Bhatta Mishra on the Cosmopolis housing project being executed by real estate firm Assotech Pvt Ltd. When Bhatta Mishra filed an appeal with the SIC, it got an inquiry carried into the delay by the Member, Planning of BDA. The Commission was informed that since the Planning Branch of BDA was undergoing renovation, records had been shifted to Land and Architecture sections where locating the records was difficult.
 Though the Commission felt that the reasons behind the delay were without any mala fide intentions, it observed that not only important facts about policies and decisions should be published by BDA, it must also provide reasons for its administrative or quasi-judicial decisions to the affected people.
 The Commission’s order is expected to bring in transparency about real estate projects in the City where their exponential growth has had an impact  - both positive and negative - on urban infrastructure and environment of the Capital.
 Over the past seven years, the RTI applications have jumped 100 times in Odisha, a record of sorts. From 447 applications in 2005-06, the applications number went past 42,036 in 2009-10. Last year, 35,649 applications were received out of which 34,503 were disposed of at a rate of 96.78 per cent. Of them, information was supplied to 86.59 per cent cases while the rest were rejected. At least four administrative departments achieved 100 per cent disposal.

Latest Realty News

PE investment in realty sector drops by 15% in Jan-Sept 2012
Oct 30, 2012
NEW DELHI: Private equity investment in the real estate sector declined by 15 per cent in the first three quarters of 2012 calendar year to Rs 3,500 crore compared with the year-ago period, according to global property consultant Cushman and Wakefield.
National honour for Bhubaneswar Municipal Corporation's e-services
Oct 30, 2012
BHUBANESWAR: The Bhubaneswar Municipal Corporation's e-governance delivery system for citizens has drawn national attention.
Mahindra Life Spaces bids Rs 260 crore for Chennai property
Oct 29, 2012
CHENNAI: Mahindra Life Spaces, part of the $15-billion Mahindra & Mahindra Group, has emerged as the highest bidder for a 4.85 acre plot of Madras Race Club in Guindy with a bid in excess of Rs 260 crore. This values the land at nearly Rs 3 crore per ground.
Local bodies in India must be made responsible for urban planning
Oct 29, 2012
The 2012-13 edition of UN Habitat’s State of the World’s Cities report, released two weeks ago, measures the prosperity of cities. Reactions thus far refer to the prosperity index and how Delhi, Mumbai, Hyderabad or Bangalore rank.
Mumbai realty market sees upward trend in on-going festive season
Oct 28, 2012
Mumbai : The Mumbai realty market, one of the leading property market in the country, is witnessing an upward trend during the ongoing festive season after a long spell of slowdown owing to lack of approvals, high interest rate, price escalation and general downtrend in consumer demand.
Chief minister asks officials to speed up Greater Ranchi project
Oct 28, 2012
RANCHI: Chief minister Arjun Munda on Friday asked officials to expedite the Greater Ranchi project as delay will only lead to increase in cost.
DDA to invite views on farmhouse policy
Oct 28, 2012
NEW DELHI: Delhi Development Authority will start inviting objections and suggestions on the farmhouse policy from next week. According to sources, the public will have up to 90 days to respond to the proposal for regularizing over 2,700 farmhouses in the city by re-designating them "country homes".
Road to investment revolution
Oct 28, 2012
BHUBANESWAR: The city's fast expanding real estate, education and IT sectors are often cited as shining examples of Bhubaneswar emerging as a preferred investment destination.
MCHI-Credai moves court against VAT
Oct 28, 2012
MUMBAI: Two days before the deadline for developers to pay value-added tax (VAT) on October 31, the Bombay high court will take up a couple of petitions challenging the levy.
Posh Palaspalli a picture of paradox
Oct 27, 2012
BHUBANESWAR: Palaspalli and the aerodrome areas in the city give a picture of social inequality despite rapid urbanization and growth.

Latest Realty News Of State

Realty Talk's