June - July 2012 - mchi-credai

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Page 02 C O N T E N T S COVER STORY Possible return to the ‘License Raj’? New Act to replace ‘MOFA’ SPECIAL REPORT One man takes on the cement cartel: Shankarbhai, Trustee BAI MCHI-CREDAI NEWS Convocation of MCHI-CREDAI - Rustomjee Academy USABF at MCHI-CREDAI Mumbai Felicitating Shankarbhai (BAI Trustee) Seminar on VAT MCHI-CREDAI UNIT NEWS Kalyan-Dombivali Unit Mira-Virar City Unit Navi Mumbai Unit Thane Unit Raigad Unit INTERVIEW Hans Fuchs, ACC Concrete Ltd. NEWS YOU CAN USE 06 08 12 14 17 18 Knight Frank India report Knight Frank Mumbai report SEAC – II in Maharashtra E D I T O R I A L Positive outlook amidst challenging times While one hopes for the best, and works with a positive outlook, as an industry we find that some positives have started happening post our interaction with the Hon’ble Chief Minister in May, and I hope the opportunities for more smiles increase. Something hurts, and let me share it with you. Recently, I have seen instances where we, the organised developers who work by the guidelines and rule book, seem to be getting into challenges and tough times more often than the segment who work without any ‘registration’ or ‘official status’. It is almost as if we developers who go by norms of regulations are being slapped with penalties and all sorts of new regulations. I am not sure what the message is here – is it that those who share data and work in a transparent manner face punitive action while those who work outside norms, rules and regulations are not dealt with? I hope not. I hope that we will not see a situation where you play by the rules and suffer just because of this. The Union Government's decision to extend the interest subsidy at the rate of 1 per cent on housing loans upto Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh for the year 2012-13 will mean that select projects in peripheral areas will gain. More important, it creates a positive sentiment among home seekers, which augurs well for real estate. Some decisions have not been as encouraging – RBI’s status quo in its credit policy, for one. It seems to overlook the importance of real estate sector in the national economy and GDP, the capital and labour intensive sector plays a key role in employment generation and accelerating growth. As I recall, the encouragement given to real estate in 1998 had kick-started the growth of cement and steel industries along with over 165 other industries including transport that with no additional cost incurred by the government. The risks attributed to real estate and the RBI advisories against lending to real estate have only harmed the sector and made housing costlier for consumers, apart from badly impacting the economy. The result has been that the governments – state, central and local bodies - have seen loss in revenue. The status quo on interest rates will further dampen the sentiment. On a positive note, I hope further policies will see rate cuts positively and conservatism does not become a lasting attitude. BOMAN IRANI HON. SECRETARY, MCHI-CREDAI & EDITOR, PROPERTYSCAPE PROPERTYSCAPE ISSUE • JUNE • JULY 2012 031603 Page 03
As we move into the middle of 2012, the months of June and July, it is not just the monsoon that is not coming up to expectations – I am seeing opportunities where the powers-thatbe could have done something positive which would have impacted sentiment at two levels – the economy and real estate. Sadly, it seems to be ‘opportunity missed’. First, there is disappointment at the RBI maintaining status quo in its credit policy. It seems the RBI is undermining the importance of real estate sector in India’s economy and GDP. The real estate sector plays a vital role in generating employment opportunities and accelerating the growth of the nation. From a Mumbai perspective too, this is an opportunity lost - being the financial hub of the country, the real estate sector in Mumbai will be negatively impacted by RBI’s status quo on credit policy On the positive side, we at MCHI-CREDAI welcome the BMC Chairman and High-rise Committee’s decision to approve the development proposals for 78 skyscrapers. Skyscrapers are defined as "buildings above the height of 70 meters”. We at MCHI-CREDAI believe this step, taken jointly by the Hon’ble Municipal Commissioner Shri Sitaram Kunte and the Committee is in the right direction. That’s the “Khushi”. However, MCHI-CREDAI is disappointed that the Committee did not find favour with the proposal of building high-rises on smaller plots – for us at MCHI-CREDAI that is the ‘Gham’. It is common knowledge that Mumbai faces an enormous space crunch. To add to this, people from all over the country come to Mumbai in search of livelihood. It is very difficult to provide housing facilities for all these people. MCHI believes the city has already exhausted its horizontal limits. In such a scenario, building high-rises in all the plots big and small is the only option. So, we move into the second half of the year, on a mixed note – and I hope we will have many more occasions for “Khushi”, as we move towards end-2012. PARAS GUNDECHA PRESIDENT, MCHI-CREDAI 04 Page 04 PRESIDENT SPEAK Mixed feelings . . . Kabhi khushi, kabhi gham PROPERTYSCAPE ISSUE • JUNE • JULY 2012 C R E D I T S PROPERTYSCAPE BUSINESS JOURNAL FOR THE REAL ESTATE INDUSTRY EDITOR Mr. Boman Irani EDITORIAL BOARD MEMBERS Mr. Pujit Aggarwal Mr. Deepak Goradia Mr. Sujal Shroff PUBLISHED BY: Mr. Zubin Mehta For and behalf of MCHI-CREDAI CONTENT & EDITORIAL CO-ORDINATION BY: A Media Inc. www.amedia.co.in Executive Editor: Kamlesh Pandya DESIGN BY: Source Printz PR & CORP. COMMUNICATIONS Ms. Shehnaaz Khambatta ADVERTISEMENT SALES: Mr. Ashok Lulla Mr. Shashikant Nimbalkar Mr. M A Patel Mr. Siddharth Mhatre Mr. Sidney Dsouza FOR ADVERTISING IN PROPERTYSCAPE CONTACT: MCHI-CREDAI Maker Bhavan II, 4th Floor, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400 020. Tel. 42121421 This Magazine is distributed to all members of MCHI-CREDAI, Members Associations, Housing Finance Companies and Allied Members. Material in this Publication may not be reproduced in any form without permission. Editorial opinion expressed by contributors in the Magazine are not necessarily those of the Editorial Panel and MCHI-CREDAI Trust. Printed and Published by Mr. Zubin Mehta on Behalf of MCHI- CREDAI and Printed at Source Printz and Published at MCHI- CREDAI, Maker Bhavan II, 4th Floor, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400 020. www.mchi.net Last issue: Apr-May 2012 Page 05
Page 1: Personal Billiards Room The Industr
Page 5 and 6: Cartelization by cement manufacture
Page 7 and 8: Page 12 MCHI-CREDAI NEWS MCHI-CREDA
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June - July 2012 - mchi-credai

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