Soon, buyers can call Kalyan-Dombivli civic body’s helpline to check if property is legal – ET RealEstate

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KALYAN: Those looking to buy a home in the twin city of Kalyan-Dombivli will soon be able to verify if the property is legal or not by just making a phone call to the local civic body.

The Kalyan-Dombivli Municipal Corporation had decided to launch a helpline for citizens seeking property details and also issue weekly action-taken reports on illegal structures and ‘dangerous’ buildings for the public to access.

According to local RTI activist Kaustub Gokhale, there are nearly two lakh illegal structures in Kalyan-Dombivli. Of these, 67,000 had been built before 2004, as per the Agyar committee report submitted to the Bombay high court in 2016.

The KDMC move came after the HC, while taking serious note of Bhiwandi’s Jilani building collapse that had claimed 38 lives, recently asked all civic bodies in Mumbai Metropolitan Region, including KDMC, to submit an action-taken report on ‘dangerous’ and illegal structures in their jurisdictions.

“A team from the town planning department will man the helpline. We will provide property details, including whether it is legal or not, so that people do not get cheated,” KDMC commissioner Vijay Suryawanshi told TOI. “Through the complaints we receive on the helpline, we will also know about new illegal constructions.”

Builders have lauded the KDMC initiative. Shrikant Shitole, president of MCHI-CREDAI Kalyan-Dombivli unit, said: “We welcome the bold move taken by the KDMC chief because it is in favour of both property buyers and developers.”

Gokhale pointed out: “Illegal structures are built using inferior quality material and without proper planning which may prove risky for residents.”

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Godrej Properties to acquire 20-acre land parcel in Kalyan near Mumbai – ET RealEstate

MUMBAI: Godrej Properties, realty development arm of the Godrej Group has entered into an agreement to acquire a 20-acre land parcel in Kalyan near Mumbai.

The company is planning residential development on the plot and expects around 1.5 million sq ft saleable area. The project will comprise primarily residential apartments of varied configurations with a small amount of retail and commercial space.

“We are happy to add this new project in Kalyan to our portfolio. This fits well with our strategy of deepening our presence in key markets across India’s leading cities,” said Pirojsha Godrej, Executive Chairman, Godrej Properties. Ends

In an exclusive interaction with ET in August, Godrej had stated that the company is looking to leverage its robust brand and financial position to tap consolidation opportunities through distress situations arising in the real estate sector due to the ongoing pandemic.

According to him, Godrej Properties is well prepared to tap growth opportunities that may present themselves given that there is some distress in the sector with a lot of developers struggling.

In July, Godrej Properties had raised Rs 1,000 crore through non-convertible debentures on a private placement basis for a term of 3 years at 7.5%. It had also raised Rs 2,100 crore last year through a qualified institutional placement (QIP).

Apart from its independent developments, Godrej Properties has already been using asset light and capital efficient joint developments and alliances to support its growth and market share.

The company has reported consolidated net loss of Rs 20 crore in the June quarter that was marked by Covid19 outbreak’s impact on the economy. Total income for the quarter had declined 76.7% from a year ago to Rs 165 crore.

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