Tuesday, August 24, 2010

REALESTATE POLICIES - DELHI

cONTENTS

· INTRODUCTION

· THE PRESENT REAL ESTATE SCENARIO

· THE LAND RULES

1. REGISTRATION ACT, 1908

2. The Delhi Land Reforms Act, 1954

3. THE DELHI DEVELOPMENT ACT 1957

4. The Delhi Rent Control Act, 1958

5. THE DELHI LAND HOLDINGS (CEILING) ACT, 1960

6. THE DELHI LANDS (RESTRICTIONS ON TRANSFER) ACT, 1972

7. THE DELHI URBAN ART COMMISSION ACT, 1973

8. The Delhi Apartment Ownership Act, 1986

9. THE NATIONAL CAPITAL TERRITORY OF DELHI LAWS,2009

· INTRODUCTION

Delhi is also known as the National Capital Territory of Delhi (NCT), is the second-largest metropolis in India. With over 17.3 million residents, it is the sixth largest metropolis in the world by population.

It is the site of many ancient and medieval monuments, archaeological sites and remains. In 1639, Mughal emperor Shahjahan built a new walled city in Delhi which served as the capital of the Mughal Empire from 1649 to 1857. Some of the World renowned historical sites of Delhi include The Red Fort, Qutab Minar & India Gate.

New Delhi houses important offices of the federal government, including the Parliament of India, Rashtrapati Bhavan (Presidential House) & The Supreme Court of India.
The National Capital Territory of Delhi is spread over an area of 1,484 sq. km. Delhi has a maximum length of 51.9 km and the maximum width of 48.48 km.

It borders the Indian states of Uttar Pradesh on East and Haryana on West, North and South.
Extreme temperatures range from −0.6 °C (30.9 °F) to 48 °C (118 °F).[

Public transport in Delhi is provided by buses, auto rickshaws and a Metro rail system.

A diplomatic hub, home to the embassies of 160 countries, Delhi has a large expatriate population. Hindi is the principal spoken and written language of the city. Other languages commonly spoken in the city are English, Punjabi and Urdu. Of these, English is an associate official language, and Punjabi and Urdu second official languages.

· REAL ESTATE SCENARIO IN DELHI

Delhi Property in India has seen a steep and fast paced growth over the last few years. Delhi Real Estate and the surrounding satellite cities of Noida and Gurgaon, have become a major attraction for both builders and investors.

The capital city has an impressive infrastructure to boast of, with an International airport, arrival of Metro rail, plenty of five star hotels, and world class luxury standards of residential and commercial properties. Moreover, due to the advent of many multinational companies setting up their offices and commercial establishments in Delhi and the NCR it has become a lucrative deal to invest in Delhi Residential Property, Noida Property and Gurgaon Property.

Demand for properties in Delhi and the NCR has increased due to the easy availability of home loans in India. Investment in Delhi and in the NCR has become a major attraction for foreign investors, NRI’s and multinational companies. Thus the face of the real estate market in the city is changing too fast.


· REGISTRATION ACT, 1908

The main purpose for which the Act was designed was to ensure information about all deals concerning land so that correct land records could be maintained. The Act is used for proper recording of transactions relating to other immovable property also.

The Act provides for registration of other documents also, which can give these documents more authenticity. Registering authorities have been provided in all the districts for this purpose.

· The Delhi Land Reforms Act, 1954

(Act No.8 of 1954)

[20th July, 1954]

· Introduction

An Act to provide for modification of zamindari system so as to create an uniform body of present proprietors without intermediaries, for the unification of the Punjab and Agra systems of tenancy laws in force in the State of Delhi and to make provision for other matters connected therewith.

· Comments

As from the date of declaration of Bhumidhari rights the person in whose favour the Bhumidhar rights are granted becomes a new tenure holder enjoying all the rights conferred under the Act and subject to all the liabilities imposed by the Act.

The interest in land conferred upon a Bhumidari is not proprietory right which has been abolished but a new right declared under the Act. They are thus special rights created under the Act. Any incidence attached to the right before the commencement of the Act could not be added to the new rights conferred under the Act.

· THE DELHI DEVELOPMENT ACT 1957

[61 of 1957, dated 27.12.1957]

· Introduction

An Act to provide for the Development of Delhi according to plan and for matters ancillary thereto.

To be enacted by Parliament in the Eighth year of the Republic of India.

· Short title, extent and commencement

(1) As soon as may be after the commencement of this Act, the Central Government shall, by notification in the Official Gazette, constitute for the purposes of this Act an authority to be called the Delhi Development Authority (hereinafter referred to as the Authority).

(2) The Authority shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power to acquire, hold and dispose of property, both movable and immovable and to contract and shall by the said name sue and be sued.

The main outcome was the commencement of a new civic body named the DELHI DEVELOPMENT AUTHORITY.

1. Objectives

  • The objects of the Authority shall be to promote and secure the development of Delhi according to plan and for that purpose the Authority shall have the power to acquire, hold, manage and dispose of land and other property, to carry out building, engineering, mining and other operations, to execute works in connection with supply of water and electricity, disposal of sewage and other services and amenities and generally to do anything necessary or expedient for purposes of such development and for purposes incidental thereto.

· The Delhi Rent Control Act, 1958

(59 of 1958)

[31st December, 1958]

An Act to provide for the control of rents and evictions and of rates of hotels and lodging houses, and for the lease of vacant premises to Government, in certain areas in the Union territory of Delhi.

Be it enacted by Parliament in the Ninth Year of the Republic of India as follows:-

· Introduction

Most of the persons living in urban areas are somehow directly or indirectly affected by the law of rent control which is provincial in nature and it differs from State to State, The law which was applicable to Delhi was Delhi and Ajmer Rent Control Act, 1952 (38 of 1952). During the course of its applicability many difficulties were being faced and it was considered necessary to enact a comprehensive law for Delhi. In order to achieve this objective the Delhi Rent Control Bill was introduced in the Parliament.

· Act 59 of 1958

The Delhi Rent Control Bill having been passed by both the Houses of Parliament received the assent of the President on 31st December, 1958. It came into force on 9th February, 1959 as THE DELHI RENT CONTROL ACT, 1958 (59 of 1958).

· List of Amending Acts

1. The Repealing and Amending Act, 1960 (58 of 1960).

2. The Delhi Rent Control (Amendment) Act, 1963 (4 of 1963).

3. The Delhi Rent Control (Amendment) Act, 1976 (18 of 1976).

4. The Delhi Rent Control (Amendment) Act, 1984 (37 of 1984).

5. The Delhi Rent Control (Amendment) Act, 1988 (57 of 1988).

……The Delhi Rent Act, 1995

· THE DELHI LAND HOLDINGS (CEILING) ACT, 1960

· Introduction

  • An Act to provide for the imposition of a ceiling on land holdings in the Union territory of Delhi and for matters connected therewith.

    To be enacted by Parliament in the Eleventh Year of the Republic of India.


    Short title extent and commencement.

(1) This Act may be called the Delhi Land Holdings (Ceiling) Act, 1960.


(2) It extends to the whole of the Union territory of Delhi, but shall not apply to-

· (a) the areas which, immediately before the 1st day of November, 1956, were included in a municipality or in a notified area under the provisions of the Punjab Municipal Act.1911 (Punjab Act 3 of 1911), or in a cantonment under the provisions of the Cantonments Act, 1924 (2 of 1924);

(b) the areas owned by the Central Government or any local authority; and

(c) the areas held and occupied for a public purpose or for a work of public utility and declared as such by the Chief Commissioner or the areas acquired under any enactment relating to the acquisition of land for a public purpose.

· THE DELHI LANDS (RESTRICTIONS ON TRANSFER) ACT, 1972

(ACT NO. 30 OF 1972)

[13th December, 1954]

· Introduction

An Act to impose certain restrictions on transfer on transfer of lands which have been acquired by the Central Government or in respect of which acquisition proceedings have been initiated by that Government, with a view to prevention large-scale transactions of purported transfers or, as the case may be, transfers of such lands to unwary public.

To be enacted by Parliament in the Twenty-third Year of the Republic of India as follows:

· Short title, extent and commencement –

(1)This Act may be called the Delhi Land (Restrictions on Transfer) Act, 1972.

(2)It extends to the whole of the Union territory of Delhi.

(3)It shall come into force at once.

Prohibition on transfer of lands acquired by Central Government

No person shall purport to transfer by sale, mortgage, gift, lease or otherwise any land or part thereof situated in the Union territory of Delhi which has been acquired by the Central Government under the Land Acquisition Act, 1984 or under any other law providing for acquisition of land for a public purpose.

· THE DELHI URBAN ART COMMISSION ACT, 1973

An Act to provide for the establishment of the Delhi Urban Art Commission with a view to preserving developing and maintaining the aesthetic quality of urban and environmental design within Delhi.

To be enacted by Parliament in the Twenty-fourth Year of the Republic of India

· The Delhi Apartment Ownership Act, 1986

(Act No. 58 of 1986)

  • Introduction

The Delhi Apartment Ownership Bill, 1986 seeks to achieve the object of enabling the conferment of heritable and transferable right in an apartment including its proportionate and undivided interest in land and other common areas.

The scarcity of land in Delhi because of very rapid urbanization has led to a vertical growth of buildings. Multi-storied residential buildings, integrated development of commercial institutional and industrial areas and flatted factories have resulted in a marked increase in the number of multi-storied buildings in Delhi containing a number of apartments, sharing land and other common facilities. In the case of flats constructed by agencies like the Delhi Development Authority, while the super-structure is conveyed to the allotted, the land is conveyed to a registered agency and the flottees jointly which apart from separating the ownership of land and super-structures, interposes the registered agency in future transfers of properties.

The existing arrangements also involve the intervention of the Government and agencies like the Delhi Development Authority in the litigation or dispute regarding management of common areas which arise between the lessees and the buyers of the apartments. The legislation therefore proposes to meet the persistent demand for statutory recognition of an apartment as a unit of property, capable of transfer and for statutory recognition of an apartment as a unit of property, capable of transfer and for a statutory organisation clothed with adequate powers for management of common areas in multi-storeyed buildings.


· THE NATIONAL CAPITAL TERRITORY OF DELHI LAWS

(SPECIAL PROVISIONS) BILL, 2009

REFERENCES :

www.indlaw.com



Proposals…

MCD To Hike Tax On Commercial Property

The Municipal Corporation of Delhi (MCD) is all set to increase tax on commercial property in the Capital. The MCD Standing Committee chairman, Ramkishan Singhal said that the corporation would review the tax policy for commercial property and bring a new proposal wherein the tax would be increased.

Wednesday, August 4, 2010

Class 4 | 4-8-2010 | Real Estate Policy

Project work assigned on collecting information on Indian policy related to real estate, eg SEZ, tax breaks for specific industries, etc.

Due date - 25-8-2010

Important - your bibliography is primate.