Cera Sanitaryware plans to increase turnover to Rs 1,400 crore in FY19

On expansions, Somany said Cera is looking for a few more joint venture partners (JVs) for manufacture of tiles and setting up more galleries (exclusive showrooms)

Sanitaryware Ltd is targeting a turnover of Rs 1,400 crore to Rs 1,500 crore in the current fiscal and will also start production from its new polymer plant this financial year, its Chairman and Managing Director, Vikram Somany said today.

“Our turnover was Rs 1,180 crore in 2017-18 financial year. We are expecting a turnover of around Rs 1,400 crore to Rs 1,500 crore in 2018-19 fiscal,” Somany, told reporters here after launching the company’s display showroom “CERA Style Studio.”

The company has a total of nine CERA Style Studios in the country and plans to more than double the same in the next two-three years, he said.

On the new polymer plant, Somany said “we have started construction of our polymer plant which will be making plastic toilet seat covers, flush systems, cisterns and allied products made of plastics. We are setting up the factory in Mehsana in Gujarat with an investment of around Rs 25 crore.”

“We should start production (from the upcoming polymer plant) within the current fiscal itself by January-February 2019,” he said.

On expansions, Somany said Cera Sanitaryware Ltd is looking for a few more joint venture partners (JVs) for manufacture of tiles and setting up more galleries (exclusive showrooms), adding “we are thinking for another JV for tiles. It will be operationalised in the next fiscal.”

The company achieved 15 per cent sales growth last financial year.

“The market still remains subdued. But, we are hopeful to grow 18 to 20 per cent this fiscal,” the company’s Executive Director, Atul Sanghavi, said.

Cera has sanitaryware and faucet plants at Kadi in Gujarat and one of the tiles plants is situated in Nellore in Andhra Pradesh.

Filing and tracking complaints to become easier with MahaRERA

From August 1, filing and tracking real estate complaints is ste to become much simpler, with the Maharashtra Real Estate Regulatory Authority streamlining the process.

From August 1, filing and tracking real estate complaints is to become much simpler, with the Maharashtra Real Estate Regulatory Authority streamlining the process. 

Under the new system, complaints can be filed and tracked right on the MahaRERA website itself. Furthermore, there will be no need to submit hard copies of the necessary documents.

Once a complaint has been registered, the individual can upload the documents on the website and subsequently, track the progress of the complaint’s redressal.

Meanwhile, complaints being registered as “source complaints against unregistered projects” can also be tracked in a similar manner. The informant’s mobile number will be verified after the complaint is registered on a simple form. Earlier, such complaints were received through e-mail.

According to MahaRERA officials, it was decided to incorporate these changes after a year-long discussions in this regard with all the stakeholders involved.

“The 60-day time frame of redressal of the complaint will commence the moment an individual registers the complaint on the website and uploads the documents. There will no further requirement of hard copies of the documents as was the case earlier. This would mean the complaints will be addressed faster. Earlier, the 60-day period began only after the hard copy of the complaint was received and the notice served to the opponent,” MahaRERA secretary Vasant Prabhu said while speaking to TOI of the changes being incorporated as per the new order.

Even builders, who would need to be sent notices earlier, will now get the notice on their mobile number registered with the MahaRERA, Prabhu said, adding that this would save a lot of time as they will now not have to physically issue a notice on the registration of the complaint.

While in case of unregistered projects, instead of the earlier e-mail that a citizen would send out to MahaRERA with heavy documents attached highlighting the irregularities, a simple form will have to filled up by the complainant with a registered mobile number. “The complainant would be send an OTP and from there on they could track their complaint redressal,’’added Prabhu. Over the last one year over 7000 such complaints were registered on their website.

The point of the change is to make the process simpler for both the developer and the complainant. A standard operating procedure for handling complaints had become essential as the number of projects to be registered will increase in coming days, Prabhu said.

The procedure for source information on projects has been implemented with immediate effect. “Under the new system, informants can also view the status of their applications through their mobile number or the information reference number,” he added.

So far, more than 17,000 projects and 15,000 real estate brokers are registered under MahaRERA. The regulator has received 3,000 complaints, of which 2,000 were resolved.

Piyush Goyal to meet Real Estate Developers and banks today

The meeting would also be attended by representatives of housing finance regulator National Housing Bank (NHB), non-banking financial companies (NBFC), Niti Aayog and the Urban Development Ministry.

Finance Minister Piyush Goyal has called a meeting of real estate developers, bankers and other stakeholders today to firm up steps to deal with various issues, including land acquisition and taxation, being faced by the sector, sources said.

The meeting would also be attended by representatives of housing finance regulator National Housing Bank (NHB), non-banking financial companies (NBFC), Niti Aayog and the Urban Development Ministry.

The meeting will also focus on giving a boost to affordable housing and National Mission for Urban Housing which seeks to provide housing for all by 2022, the sources said.

The effort, they said, would be to understand the problems in the real estate sector and hear the industry on what the Central and state governments could do to improve ease of doing business.

As regards the taxation issues, the meeting would deliberate on the feasibility of bringing real estate within the ambit of the Goods and Services Tax (GST).

The Delhi government has been demanding bringing real estate under the GST.

Over 100 dangerous buildings yet to be vacated in Mumbai: Devendra Fadnavis

Maharashtra chief minister Devendra Fadnavis claimed that the city has 688 extremely dangerous buildings in Mumbai of which 121 have been demolished during the last 75 days.

Fadnavis was replying to questions asked by Raj Purohit, a BJP legislator from Colaba. The CM said out of the 688 most dangerous buildings in the city which should be vacated immediately, 555 are private properties, whereas 60 are government owned and 73 belonged to BMC. The CM cited the BMC’s pre-monsoon survey conducted in April 2018, while answering on the query.

Nearly 133 buildings are yet to be vacated as occupants are residing in them and are not ready to leave the buildings. “The process of vacating the buildings is going on and so is the calculation and certification of total floor space index (FSI), temporary arrangement of alternate accommodation by the landlord and disconnection of water and power supply of the building,” said Fadnavis in his reply.

While elaborating the status of 688 buildings, Fadnavis mentioned that 121 buildings had been demolished after the survey conducted in April 2018.

112 buildings have been vacated and 167 buildings are under litigation. While the technical committee has to decide on the fate of 37 buildings, the water and power supply of 118 buildings has been cut off and the process of discontinuation of services for 133 buildings is going on.

Maha RERA eyes 3,000 projects to be registered every year in Maharashtra

Maharashtra Real Estate Regulatory Authority (MahaRERA) said that around 3,000 real estate projects on an average would be registered with it every year.

The chairperson of MahaRERA Gautam Chatterjee, who was in the city recently for the two-day summit by Credai, said that it is mandatory for developers to get registered with MahaRERA. The event concluded on Saturday.

Ever since MahaRERA came into existence on May 1 last year 16000 projects have been registered with the authority, including the ongoing projects.

“At present all new projects would have to be registered with us. The developers cannot launch or advertise their projects until they get registered. Our aim is to see to it that on an average around 3,000 projects to be registered every year with MahaRERA,” said Chatterjee.

During his speech at the inaugural event Chatterjee had warned developers of action if their projects are not registered with Authority.

According to S Choklingam, state settlement commissioner and director of Land Records amendments are taking place in Land title acts.

“Maharashtra is the first state where leave and license agreements are registered at home online. It needs to check history of land before the land measurement and this is the time consuming process. Hence, we are working on simplifying the process, said Choklingam.

He added that his department is also in the process of giving digital property cards. Presently, department is in the process of modernisation.

“Last fiscal, the government had got the revenue of Rs 25,000 crore from this department,” added Choklingam.

Mangal Prabhat Lodha, chairman of Lodha Group said, “After agriculture, the realty is the largest sector that provides maximum employments. But the sector is passing through a phase of slowdown. The rising tax rates and declining profit margins are the major concerns of the sector. We need to pursue with the government on CREDAI’s platform to take positive decisions to boost the realty sector.”

Unitech home buyers marched to PM Modi’s door

 A group of 200 homebuyers from several projects of Unitechtried to march towards the Prime Minister’s residence on Sunday to protest the Centre’s decision of not taking over the company’s board, but were stopped midway by police.

The buyers demanded that the Centre take over the board, but with permission from the Supreme Court. They submitted a memorandum at the PM residence and claimed they had been called for a hearing on Monday.

Vivek Tyagi, a buyer of the Anthea Floors project in Gurgaon Sector 70, said around 100 homebuyers from Gurgaon were part of the team that submitted the memorandum, signed by the core committees of eight buyers’ associations and even former employees of Unitech who claimed they had not been paid ever since the arrest of the developers.

Over 20,000 homebuyers who have invested in 61 Unitech projects across NCR are yet to get their flats. A group of buyers had lodged a complaint with the corporate affairs ministry, which, in turn, had approached the National Company Law tribunal in December last year with an offer to take over Unitech Ltd. The tribunal had allowed the takeover and asked the Centre to appoint a new board of directors to refund the homebuyers and carry out pending construction work.

The takeover was, however, challenged by Unitech in the Surpeme Court, saying the tribunal could not have approved the Centre’s offer when the case was being heard by the Chief Justice of India.

The CJI had criticised the Centre for not seeking the court’s permission before taking over the board. The buyers said the Centre subsequently withdrew its offer to take over the board instead of securing the court’s permission and going ahead.

“We want the ministry of corporate affairs to take over the Unitech board after seeking permission from the Supreme Court,” said Rudra Patil, who has invested in Uniworld in Gurgaon Sector 33. The project was launched 12 years ago.

Some of the protesters took to social media to raise their voice. The group had gathered at India Gate before heading towards the PM residence. “Lakhs are screaming for the help of PM Modi. Acquire Unitech and deliver projects through NBCC or other credible builders,” tweeted Rudragouda Patil, a buyer.

A Unitech spokesperson declined to speak much, saying the matter was “sub judice in the Honble Supreme Court of India”.

“The hon’ble court has also appointed the amicus curiae and the amicus curiae floated a web portal for homebuyers. Many home buyers have put in for either refunds or possessions in the portal. Whatever will be decided by the Supreme Court of India will be complied with. Also, the Supreme Court is under process of auctioning some of the land of the company and the same shall be completed in next 4-5 weeks,” the company said.

Chennai Development body to allow housing in ‘catchment areas’

Ducking the blanket ban imposed by the Madras high court on conversion of water bodies and wet lands into residential layouts, the Chennai Metropolitan Development Authority (CMDA) is considering a proposal to reclassify catchment area near Avadi. While environmentalists have raised a red flag over the move as it would adversely impact the rainfall activity zone, the planning authority has said the site was “wrongly” declared a waterbody.

According to the reclassification notification published on the CMDA portal, an application has been filed with the planning authority seeking to change the land use pattern of a site falling in 16 survey numbers of Vellanur village in Avadi taluk of Tiruvallur district.

Though the quantum of land has been mentioned as 11.67.50, the unit for measurement is mysteriously missing, which has been categorised as ‘catchment area’ in the second masterplan of the CMDA. CMDA has sought objections, suggestions and representation from the public over the proposal seeking to reclassify it as residential layout.

Since Red Hills and Puzhal are major water sources for the city, the CMDA had declared contiguous areas of the reservoirs as ‘Red Hills catchment area’ to protect them from urbanisation. Vellanur comes under this radar of restricted development.

Founder of Environmentalist Foundation of India Arun Krishnamurthy, said catchment areas are rainfall activity zones that need to be protected. “If we are going to destroy such zones, it will lead to a waterless future,” he said. Similarly, another 3.23 hectares of land at Mannivakkam near Tambaram, that has been declared as partly-agricultural and partly-water body zone has also been sought for reclassification into residential layout.

When contacted, a senior CMDA official told TOI that these were not government land. “Moreover, a water body cannot be reclassified to any zone. Only land wrongly classified as water body can be considered (for reclassification),” the official said, adding that the revenue department should also certify that it was not a water body.

Haryana initiates process to cancel 11 land registries in Manesar

The Haryana Government has initiated the process to cancel all the 11 registries of land in Manesar which were done against the judgment of the Supreme Court. The Haryana government has initiated the process to cancel all the 11 registries of land in Manesar which were done against the judgment of the Supreme Court. “Action will be taken against those involved in selling government land fraudulently. Also, the ‘Intekals’ which were registered have been cancelled,” Gurugram Deputy Commissioner Vinay Pratap Singh said on Thursday. He said as per a March Supreme Court order, land was acquired in Manesar and the proprietary rights were given to the Haryana State Industrial and Infrastructure Development Corp (HSIIDC). “However, the earlier owner sold this land to another person and got the registry done. Taking note of this, the state government, on the basis of a preliminary inquiry, suspended the Tehsildar, Kanungo and Patwari. “The Nayab Tehsildar has been chargesheeted and departmental proceedings are being carried out against him. Also, the services of data entry operator involved in this matter have been terminated,” Vinay Pratap Singh said. The Deputy Commissioner said that nearly 4,000 claims and objections were received from people living in Gurugram city after a survey was conducted to determine compensation for the constructions and properties falling within a radius of 300 meters of Ayudh Depot in Gurugram. Under the Defence Act, construction is prohibited within the 900 metre radius of an ammunition depot and a case regarding this was also under consideration in the Punjab and Haryana High Court. “The committee set up by the Central government has given in principle approval by reducing the restricted radius form 900 to 300 metres,”. On the order of the court, survey of the properties located within the 300 metre radius has been done by the municipal corporation to determine the compensation for them.

PNB Housing Finance plans to raise Rs 10,000 crore through bonds

The board of directors of the company in a meeting held today approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore: PNB Housing Finance on Tuesday said it plans to raise up to Rs 10,000 crore by issuing bonds through public issue. The board of directors of the company in a meeting held today approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing. The company said the money will be raised in one or more tranches. It is promoted by state-owned Punjab National Bank, which holds 32.96 per cent in the housing finance subsidiary. The rest of 67.04 per cent is owned by institutional investors, including mutual funds, venture capital funds, foreign portfolio investors; financial institutions and banks; individuals and foreign companies. The company had registered a rise of 58 per cent in its net profit at Rs 829.41 crore in fiscal ended March 2018. Total income during the year stood at Rs 5,516.96 crore. PNB Housing had disbursed Rs 33,195 crore loans during 2017-18, an increase of 61 per cent over the preceding fiscal year. Its asset under management stood at Rs 62,252 crore as on March 31, 2018.

No fire safety measures in majority of Rajasthan housing board high-rises

The fire and emergency services department of Jaipur Municipal Corporation (JMC) often issues notices to owners of private and commercial establishments for flouting fire safety norms . In case of a fire, a majority of the Rajasthan Housing Board (RHB) high-rise buildings could turn into death traps for its occupants. The fire and emergency services department of Jaipur Municipal Corporation (JMC) often issues notices to owners of private and commercial establishments for flouting fire safety norms. But, it seems to have turned a blind eye towards the high-rises constructed by the (RHB) as more than 35 buildings have neither installed fire safety measures nor procured No Objection Certificate (NoC) from the JMC. High-rises situated in Pratap Nagar, Mansarovar and Indira Gandhi Nagar are posing serious threat to thousands of residents in absence of fire safety measures. In majority of high-rises fire extinguishers, sand buckets and other equipment to control fire are missing. Moreover, barring some fire-fighting measures like smoke alarms, sprinkler systems, which the fire department advises for all buildings and emergency staircase other security measures cannot be seen in these housing societies. Vivek Sharma, who owns a flat in Vyas apartment said, “The state government agencies are ignorant about such a major issue. Notices are only being issued to commercial establishment to earn revenue however, residents’ safety is not a concern. There is no fire-fighting system in place and thousands of residents are at risk,” A source in the JMC, who asked to remain unnamed, said, any building with ground-plus-four floors or more and a total height exceeding 15 metres is considered a high-rise. “These are classified further as residential, educational and institutional, and specific safety guidelines are provided for each in the National Building Code. It is mandatory for all high rises whether government or private to procure fire NoC,” said a source. As per the norms, an NOC from the fire and emergency services is mandatory for the local municipal authority to approve building plans. After the completion of construction, the structure is to be inspected and certified by the fire department to ensure that fire safety norms under the local building bylaws and the National Building Code have been followed as per the approved building plan. The fire safety clearance certificate is also to be renewed once every two years. However, the process is not followed as majority RHB apartments have not even procured NoC. “Many apartments including Pratap, Vyas, Gomti have not procured NoC,” said an RHB source.