Budget 2017 Is Good News for Real Estate sector

The developers have welcomed the budget 2017 presented by the Finance Minister Arun Jaitley.  Provisions like constructing one crore houses for homeless by 2019  and raising PM Awas Yojana allocation from Rs 15,000 cr to Rs 23,000 cr are being welcomed.

Kishor Pate, CMD - Amit Enterprises Housing Ltd.:

The Budget has announced that 1 crore rural houses will be created by 2019, and the outlay for rural housing under PMAY is Rs. 23000 crores from the previous Rs. 15000 crores. This will help address the housing needs of the homeless and those living in 'kachha' houses in the rural areas, and potentially help reduce pressure on urban areas if it is in conjunction with employment generation

The total allocation for infrastructure is a whopping Rs. 396135 crores in 2017-18. This is very good news for the real estate sector, as the correlation of infrastructure with real estate growth is a well-established fact.

Affordable housing has finally been given infrastructure status. This will mean cheaper loans for developers of budget housing and significantly boost the Government’s target of Housing for All by 2022. The Affordable housing has seen a significant change in the Government’s existing scheme, with the qualifying size requirements now changed from built-up area to carpet area of 30 sqm and 60 sqm for projects within the municipal limits of the large 4 cities.

On the all-important front of personal income tax, the existing tax rate for incomes between Rs. 2.5 lakh to 5 lakh has been reduced to 5%, and taxpayers in other categories will also save Rs. 12,500. While this will definitely boost the overall consumption story, it unfortunately will not have any significant impact on housing demand. However, the FM did indicate that lending rates are likely to come down in the wake of the demonetisation move. A decline in interest rates would have positive implications on housing demand.

Anil Pharande, Chairman - Pharande Spaces:

Project completion timelines for affordable residential projects have now been increased to 5 years, which comes as a relief to developers of such housing as it will allow them more time to sell their inventory.

 The Budget has focused on improving rural connectivity through higher kilometers road construction per day. Also, railway stations redevelopment has received a shot in the arm, with 27 stations to be allocated in the current year. This will help connect more areas and create new development corridors. It has also announced that the PPP mode will be used for select tier 2 airports, and a relaxation of AAI Act for commercial usage of land. The Government will also announce a metro rail policy for implementation and financing of such projects, which will generate additional employmentand therefore interest in home purchasing.

With five tourism zones to be established via Special Purpose Vehicles (SPVs), we will see an increase in tourism to the focus areas, with a direct boost to hospitality. It will also increase appetite for second-home investors focused on the tourism-related rental income in these areas.

The Government has announced that 250 proposals for electronic manufacturing worth 1.2 lakh crore have rolled in. Obviously, this has a direct potential correlation to employment generation and therefore demand for housing in and around the identified manufacturing nodes.

Read More

Hegemony of Western Media Should End : Arnab Goswami

The west should not teach us anymore how to do journalism. Time has come to put the mirror back on western media. We will challenge the dominance of western media from Indian soil,  eminent journalist and former Editor in Chief of Times Now Arnab Goswami said on Tuesday.

Goswami was delivering a speech as the Chief Guest of the Bharatiya Chhatra Sansad (BCS) in the first session on the topic ‘Freedom of Expression: How Much is Too Much’. The three-day Parliament has been organized by MIT School of Government & Bharatiya Chhatra Sansad Foundation, Pune in association with the Ministry of Youth Affairs & Sports, Govt. of India, Ministry of Higher & Technical Education and Ministry of Sports & Youth Affairs, Government of Maharashtra & Pune Municipal Corporation.

Prof. Dr. Vishwanath D. Karad, founder president, World Peace Center (Alandi), MAEER’s MIT, Pune; Shri. V. Vaithilingam, Hon. Speaker and Former Chief Minister, Puducherry Legislative Assembly and Prof. Rahul Vishwanath  Karad, Founder Convener, Bhartiya Chhatra Sansad, Initiator & Dean, MIT- SOG were present at the session.

Goswami added, “A lot of politicians did everything to silence us. They told us you will be on streets if you take on the Central Government. But we were not afraid. The time has come for the birth of independent media in this country.” 

Talking about recent issues he said, “We need to silence them who want to silence Zaira Wasim. We are not going to tolerate the elements who publicly make a 16 year old girl to apologize. No country in the world has the courage to challenge religion. We fought for women’s entry to Haji Ali and Shani Shingnapur. Even if our vocal cords tear, we will stand for the right against the dirty practices”, he added.

Talking about his new venture, Republic, he said, “One man cannot change the country, nor even a group of journalists. We the people can. Many laughed on the dream of global Indian news media. I say, Republic will win and they will lose. Idealism will win and money will lose. Republic is not just a news channel, it is a movement which will put back peoples’ voices.” 

He said, “We will decentralize Indian journalism. The journalism in Delhi is corrupt. The center of journalism is no more Delhi, it is places like Mumbai, Pune, Bangalore, etc.”

Vaithilingam, said, “There should be clear balance between constitutional rights and responsibilities in freedom of speech. Freedom of Speech should not challenge sovereignty and unity of India. Indian model of freedom of speech is less appreciated in the world.”

Tamo Mibang, Hon. Vice Chancellor, Rajiv Gandhi University, Arunachal Pradesh, in his opening remarks, said, “To govern India, a land full of diversity, is difficult. Too much talking of one group disturbs other’s freedom. To stop the functioning of parliament is not a good sign for democracy. We should sit and talk on main issues.”

Adv. Swati Nakhate said, “The credit of Maratha Silent Marches goes to the whole Maratha Community. There were no particular leaders, all participants were leaders. Many politicians were surprised to see so many people coming out in numbers, which they hardly manage to arrange. We will always stand against the injustice to women.”

Dr. Rajiv Saizal from Kasauli, Himachal Pradesh was conferred the Ideal Youth MLA award at the hands of chairman of the session.

Read More

Optimism for New Year

The days of optimism being defined by half-filled and half-empty glass are over. Now it is the time of ATM queues where optimism is tested to its utmost. This must be the parting gift by the outgoing year to the coming one!

Read More

India to play crucial role in International Laws – Aniruddha Rajput

The government has decided to offer more opportunities to the youths with changing times which is a welcome step. The world is looking at India with expectation. The India will play a crucial role in framing in the international laws in future, said the international law expert Aniruddha Rajput here on Saturday.
Shri. Rajput was speaking at the felicitation and interaction program organized by Vishwa Samwad Kendra (West Maharashtra) for his election to the International Law Commission (ILC) of the United Nations. Vinayakrao Thorat, Paschim Maharashtra Karyavah of Rashtriya Swayamsevak Sangh, Ravindra Ghatpande, secretary of VSK and Milind Kamble, editor, VSK were present on the occasion.
Speaking in humorous vein, Shri. Rajput said, “Even though we are independent nation, we were yet dependent on others for making laws. Even today we have laws based on Roman system. We were 'rule takers' till now and are becoming 'rule givers' now. 'Their system is our system' should be changed now. India will decide the direction and nature of international law in coming days.
Shri. Rajput is the youngest lawyer and the first Maharashtrian to be elected to ILC at the age of 33 years in its 68-year history. Shri. Rajput got most – 179 votes – among the seven candidates elected from the Asia. In this regard, he said, “Experienced persons and bureaucrats were given preference in our country till now. However, the government has now decided to give more scope to the youths. Foreign Minister Sushma Swaraj herself interviewed me and gave me an opportunity to represent India. She must be commended for this. One may imagine the changing circumstances by the fact that other countries changed their candidates after India chose a youth.”
He credited his success to the values imbibed by RSS saying, “Lot of people have contributed to my upbringing. I have come here after so many individuals spent man-hours. Had I been unsuccessful, their toiling would have been wasted.” He also shared many memories with many RSS dignitaries including Late Sarsanghchalak Rajju Bhaiya.
Speaking about the world's perception of India, he said, “The world expects a lot from us. Now we should think whether we fulfill those expectations.”
Aniruddha's mother and father Dhananjay Rajput also shared memories of his childhood and his upbringing.

Read More

Pune Has Always Stood by Me - Deepa Malik

“"Pune has always supported in my bad & good days also. I had to face many adverse conditions which inspired me in my journey," said Deepa Malik, an Indian athlete & Silver Medal winner in Shot Put Rio Paralympics 2016.  She was delivering a lecture to the students on ‘Ability Beyond Disability’ organized by MAEER’s MIT Group of Institutes, Pune & Rotary Club of Pune University. Prof. Sharadchandra Darade-Patil, Dean, MAEER’s MIT, Pune presided over the function. 

            Prof. Dr. L. K. Kshirsagar, Principal, MAEER’s MIT, Pune, Prof. Dr. M. S. Nagmode, Principal, MIT College of Engineering, Rtn. Pallavi Deshpande, President Elect Rotary Club of Pune University, Pune, Rtn. Dev Shahane, President Rotary Club of Pune University, Pune, Rtn. Mahesh Bhagwat, President Elect Rotary Club of Pune University, Pune, Rtn. Sujata  Kulkarni, Youth Director, Rtn. Prachi Dharamsi were present on this occasion.
            Deepa Malik  said, “I was hospitalized for three years during my childhood in Southern Command Hospital, Pune.  Everybody around me used to tell me success stories which gave me courage to face the situation. It created a positive outlook towards any situation and it became a habit throughout my life. My father was in armed forces who always tried his best to elevate me. Almost all of my organs are affected. But I fought the situation always.”
            “One fine day, I was told that swimming can help me to improve my health. This was a turning point in my life. I started thinking how I can make progress in this direction. I heard the word Paralympic and it gave a dream before me. I could earn medals at national and international tournaments as everybody knows. The main thing is that determination is a driving force behind all these activities. I had taken part in a beauty contest also where I got a crown.”
            “Everyone, especially the students, must understand that you are the architect of your future. Nobody can stop you from achieving the success in the world. Every disaster or adversity is an opportunity for success. I hope the young generation will follow this message.”   
            Prof. Sharadchandra Darade-Patil said, “Deepa Malik is really Idol not for Indian youth but everybody here as well as in the world.” He quoted a few poems.

Read More

We must plan for the future, says PM Modi after laying foundation of Pune Metro Rail Project

We must plan for the future and everything cannot be seen from a political point of view, said Prime Minister Narendra Modi today while laying  the foundation stone of Pune Metro Project (Phase-1). He added that we must plan adequately for growth of our cities.
 Addressing a large gathering at the New Agriculture Ground in Pune, the Prime Minister said India is urbanizing at a very quick pace and therefore, it is essential to work in two directions by simultaneously improving quality of life in villages and  thinking about mitigating the challenges of our urban areas with a long term vision and plan.
Also present on the occasion were  Governor of Maharashtra  Chennamaneni Vidyasagar Rao, Chief Minister of Maharashtra  Devendra Fadnavis, Union Minister for Urban Development M Venkaiah Naidu, Union Road Transport Minister Nitin Gadkari, Human Resources Development Minister Prakash Javadekar, Senior Ministers of Government of Maharashtra , Members of Parliament and other senior leaders.
The Prime Minister said that the central government is actively working on the Rurban Mission, which caters to those places that are growing and urbanising quickly. The Prime Minister said that the gains of the present are vital but we need systems that cater to the needs and aspirations of the future too. He said that it is the Government’s endeavor  that whatever projects are taken up are completed within the scheduled timeframe.The Prime Minister said that the Government is working on gas grids, water grids, digital network, leveraging space technology, and using technology to help farmers.
He stated that in this nation everybody is equal before the law and everyone has to follow the law. He added that if the evils of corruption and black money were removed earlier, he would not have had to take the decisions that he took.
Noting that Pune is a city of learning, he exhorted the city to take the lead in embracing online banking and exploring the facilities available. In this nation, the voice of 125 crore Indians will be heard; this voice cannot be subverted by a select few, the Prime Minister said.
The project, being executed by Pune Municipal Corporation (PMC) is being set up at a cost of Rs. 11,420 crore under the aegis of Maharashtra Metro Rail Corporation Limited (MAHA-METRO). In the first phase, two corridors of the Pune Metro Rail Project would be taken up for development, covering a length of 31.254 km. The  two corridors are from Pimpri-Chinchwad to Swargate covering a length of 16.589 km (11.57 km elevated and 5.019 km underground) and Vanaz to Ramwadi covering 14.665 km (fully elevated). This is the third metro rail project in Maharashtra. 
Proposed project will go a long way in the sustainable development of the rapidly growing city. Stations have been located so as to serve major passenger destinations and to enable convenient integration with other modes of transport. The Pune metro rail alignments are expected to provide much needed connectivity to commuters and will traverse through some of the densest and traffic congested routes in the Pune metropolitan area. The population of 50 lakh of Pune Metropolitan Area is expected to be benefited by this metro corridor.

Read More

Uddhav Thackeray - The Man Who Perfected the Art of Sulking

By aligning with MLA Bachchu Kadu, the maverick politician from Vidarbha, Shiv Sena's Executive President Uddhav Thackeray has yet again proved that he was dead serious about opposing BJP. Kadu, who runs his outfit Prahaar in Vidarbha, is known mainly for his outlandish agitations. Since these agitations involve people's core issues, he enjoys a huge following in the region. It is the same region where Shiv Sena faced noticeable losses during the recently held municipal elections. It is the same region where BJP registered its strong performance accounting for almost one-third of its seats in the same elections that lifted it up to the top spot. 

Thus, joining hands with Kadu will ensure that Shiv Sena will leverage the former's popularity to challenge the blitzkrieg of its once-ally. Shiv Sena needs an aggresive leader in Vidarbha to counter BJP while Kadu needs a party like Shiv Sena. Interestingly, Kadu, an independent MLA from Achalpur in Amravati district, has extended support tp the Devendra Fadnavis' government. It is another marking of Thackeray's sulking and taking  his saffron friend-turned-adversary head on.

Actually another of his current adversaries and cousin Raj Thackeray pioneered this art. However, none has matched the level of perfection that Uddhav Thackeray has attained. He has given shape to a new kind of politics in Maharashtra where he is the ruler and opposition and that too concurrently! 

Just before completing (one must stay away from using the word 'celebrating!) two years in the Devendra Fadnavis-led government, Uddhav Thackeray came up with another salvo. In the meeting held with the Shiv Sena shakha pramukhs and vibhag pramukhs, he was understood to have expressed his displeasure on the non-performance of his party ministers. He reportedly conveyed his unhappiness over the fact the party didn't use the power even when after being part of the ruling coalition.

One doesn't know how much salt these reports hold, but it is hardly surprising even when they turn out to be entirely true. Ever since the Fadnavis-led government has assumed charge, Shiv Sena has received a raw treatment. To start with, its ministers were allocated with non-descript portfolios and most of them were made state ministers. Thus, most of them are working under a BJP minister.

Except for Industries Minister Subhash Desai, no Shiv Sena leader has been able to showcase his prowess, let alone achievements. For example, Environment Minister Ramdas Kadam fought a  long battle with the bureaucrats in his ministry for the authority to approve development projects. It was CM Fadnavis himself who had to intervene and pacify the matter.

At various occasions, Uddhav Thackeray has expressed the need for giving more authority to Shiv Sena ministers. However, the CM has exploited the vulnerability of its apparent ally and actual rival. The recent results of the municipal councils in the state have established Fadnavis as an able leader and Shiv Sena as the foremost rival of BJP. Having decimated Congress and Nationalist Congress Party, the CM enjoys popular support and goodwill of party bosses. 

Uddhav Thackeray harmed his own interests when in the fever of election campaigning, he compared Prime Minister Narendra Modi and BJP president Amit Shah to Aurangzeb and Afzal Khan.  Both the leaders are known for their self-loving nature. They could have never taken that diatribe easily. As was expected, they harbored a hatred for their faithful friend for 25 years. It was only because of CM Fadnavis' insistence that Shivsrna was allowed an entry to the government, as the CM didn't want any truck with the NCP. 

Uddhav Thackeray, who inherited a blatantly raging party from his father Balasaheb Thackeray, moderated it to a great measure. He tried and managed to turn a party of vandalism into the party of discourse and debate.  Now, he wants to take the U-turn and make the cadre furious again. The matters become a bit complex here because after enjoying the  power for two years, not many Shiv Sena members are ready to abandon it. This explains Uddhav Thackeray's helplessness in sticking to power even after so much humiliation.

 This is a very curious turn in Maharashtra's politics. Both Shiv Sena and BJP flourished in the state, as in other parts of the country, on the strong Hinduist agenda. As they gained force, after going through a roller coaster ride, both are them in power today. However, neither of them is talking of Hindutva anymore.

On one hand BJP, buoyed by Narendra Modi's cult status, is talking about development and infrastructure. On the another, Shiv Sena's Hinutva has zeroed on anti-Pakistanism. It has lost many of its basic ingredients that made it palatable and appealing to masses,say, two decades ago. And yet, both of them are enjoying a comfortable ride in the absence of credibility on the part of  opposition parties - Congress and Nationalist Congress Party.  

Read More