Govt may make registration must for 11 month leases

The government may make it compulsory to register “lease” documents even for a period of less than one year, a move aimed at putting property owners and tenants on a stronger legal footing in case of disputes.

An amendment proposed to the Registration Act, 1908, seeks to redefine “lease” to remove the provision which says that those for a period under one year need not be registered. The amendment would, however, exempt “lease” agreements pertaining to an amount which is below the “floor price”. The move is aimed at giving a stronger legal standing to sections like property owners and buyers or tenants who don’t have their lease documents registered, largely because the period they deal with is under one year.

The provision of non-registration is exploited by groups like landlords who tailor the lease in a way (like 11 months) to keep them from registration. Conversely, there are cases of land grabs or squatting where non-registered lease puts the owners on a weak wicket.

Sources said making registration compulsory for every lease could hinder business because of sheer volume and the government has thought of a “floor price” to make it binding. States are likely to be given the freedom to decide the “floor price” and they could fix it according to what suits the larger public interest there.

It is part of the changes that Union rural development ministry has proposed to the Registration Act, and are being vetted by the law ministry. The government may also make it mandatory to register powers of attorney. The transfer of property without registration causes loss to exchequer and is also a big source of disputes. Powers of attorney would be put under Section 17 of the act which deals with compulsory registration.

In another change, the “registered documents” relating to moveable and immoveable property would no longer be secrets in the registrar’s office for which officials are to be pestered or bribed for a glance. The changed law may throw the “Book 4” open for general viewing. “Book 4” or the Miscellaneous Register is a compendium of all registered documents of certain value which is not allowed to be accessed by the general public. Sources said it would enable citizens to verify facts like ownership details of certain properties.

A new clause is proposed to authorize ‘registration officers’ to refuse registration. Following the change in law, the officer could invoke his authority in case of documents relating to transfer of properties belonging to government, property under litigation, those belonging to charities or those whose transfer has been banned by states.

Source: The Times of India, New Delhi

Low Budget Villa Plots on ECR Road – Swarnabhoomi Cityscapes

• Villa plots are located around MARG Swarnabhoomi, a 1000 acre aspiration city
• 3 plot projects launched:“Bay view” , “Lake View Garden” & “Royal Orchard” in the rapidly developing urban area
• Huge appreciation value with proximity to:
  • BGR Energy & NTPC industrial projects
  • TTDC water sports and theme park
  • Shared facilities of MARG Swarnabhoomi
  • Proposed Southern Railway station in the future
• Starting from just Rs 4.99 Lakhs per ground

“Bay View”villa plot which is located at just 1 km from the beach on ECR and close to Cheyyur Lake start from Rs.9.99 lakhs* onwards per ground. Bay View comes with a 571 premium sea view plots which is located on the entertainment corridor, just 2kms from TTDC Boat House (Mudaliarkuppam) and proposed water sports & Theme Park.

Surrounded by nature’s freshness and lush greenery, “Lake View Garden” plots are premium pieces of land which comes with a price range starting from Rs. 7.57 Lakhs* onwards per ground. Lake View Garden offers 517 garden plots which are located on ECR in close proximity to Koovathur hospital and near proposed BGR Energy Plant.

“Royal Orchard” villa plot inspires by the serene power of nature and its beauty is located next to Tapovan Ultra Luxury Villas by MARG ProperTies in tranquil environment comes with a price range starting from Rs 4.99 Lakhs* per ground. Royal Orchard offers 397 garden plots off ECR which are located just 18km from Maduranthagm Railway station.

 

Location Map :

Visit :http://www.swarnabhoomicityscapes.com

Upcoming education institutes at MARG Swarnabhoomi

Operational educational institutes at MARG Swarnabhoomi

MARG Institute of Design & Architecture Swarnabhoomi (MIDAS)

MARG Institute of Design & Architecture Swarnabhoomi (MIDAS) – addressing global need for high quality architects, MIDAS is affiliated to Anna University of Technology, Chennai and is approved by the Council of Architecture, New Delhi. Spread acres 2.5 acres of land, the institute is equipped with all the modern amenities to provide quality education in the field of architecture.

MIDAS has gained acclimation for extensive industry led academia. Being part of MARG Swarnabhoomi, MIDAS students has opportunity to learn in 22.8 million sq ft of live laboratory. Series of academic excursion to architectural landmarks, participation in various architectural events & competition gives ample opportunity for experiential learning.

MIDAS is in its second year of operation. Current student strength at MIDAS is 135 (1st batch:  55, 2nd Batch: 80 students). MIDAS has received a Letter of Intent (LoI) from Council of Architecture, New Delhi, for adding another 40 seats to the B. Arch program, from the academic year 2013-14. The annual intake of B. Arch program post the increase will become 120.  Projected student strength in 2013-14 will be 255.

To know more about MIDAS, visit  www.midas.ac.in

Swarnabhoomi Academy of Music

Swarnabhoomi Academy of Music is the first ever professional college for music in India offering a range of programs in contemporary music like rock, jazz, classical and world music.

 

 

It aims at providing a challenging academic program in music that fosters a collaborative exchange of ideas and thoughts in a culturally rich environment exemplifying the notion of a global community. By blending the best of Indian traditional Gurukula based classical music pedagogy and contemporary western college education practice, the college seeks to not only provide a unique and rounded music education but also build character and personality in its students and prepare them for careers in music as performers, arrangers, songwriters, composers, producers, teachers and more.

It has recently tied up with McNally Smith College of Music, USA to offer a first of its kind exchange program for SAM students, leading to a degree at McNally Smith College of Music.

Since starting its Diploma Program in July 2010, SAM has hired 71 world class musicians from 25 countries as faculty. These include several Grammy nominated artists, MacArthur fellows and some of the most distinguished performing artists in the world.

397 students from India, USA, Tunisia, UK, Bangladesh, Democratic Republic of Congo, Oman, UAE, Germany, Argentina, Australia and Mexico have attended SAM’s Single Semester Certificate, 1 or 2 year diploma programs, workshops and camps so far. The 2013-14 will see another 150 graduate. SAM Diploma and short program alumni are some of the leading musicians in the country across all genres.

SAM boasts Best-in-Class facilities – An acoustically treated air-conditioned facility of 30,000 sq ft. with 10 ensemble rooms, individual guitar, piano, drum and vocal practice rooms, a library with over 500 titles, a media center with top of the line music work stations, 2 acoustically well designed recital halls, 2 outdoor performance areas and 17 individual huts for rehearsal. These are filled with 16 pianos, 26 drum sets, 30 Mesa Boogie and Vox Guitar Amps, 17 Bass Amps, numerous PAs, mixers and recording setups.

Over the next few years, SAM aims to diversify into inter-disciplinary programs, state-of-art recording studio complex, cultural tourism and wellness. However, core areas of activity like facility expansion & academic development will remain.

To know more about SAM, visit  http://sam.org.in

MARG Navajyothi Vidyalaya – A school focused on holistic education

Launched in FY 2011-12, MARG Navajyothi Vidyalaya is a K-12 school affiliated to CBSE, with modern classrooms equipped with advanced educational tools. The aim of the school is to provide quality primary education at an affordable cost.

Spread over 2 acres, it is the only school in the region which focuses on the overall development of children by including various extra-curricular activities in its syllabus. The school has gained acclaim for its unique teaching methodology, which includes smart classes and interactive learning.

The current count of students in MARG Navajyothi Vidyalaya is 400. In 2013-14, student strength at MNV will go up to 500.

To know more about MNV, visit  www.margnavajyothividyalaya.com

Exemplarr Centre for Employability & Learning (EXCEL)

EXCEL is Exemplarr Worldwide’s finishing school aiming to bridge the gap between the skills produced by the universities and the skills required by the industry. The school is focusing on bridging the gap between demand and supply in a few identified high growth industry segments in India. EXCEL endeavours to make Tier 2 and Tier 3 city students ready for the future demands by the industry.

The finishing school is part of a ‘Shared Training Facility’ at MARG Swarnabhoomi consisting of state-of-the-art academic, computing & residential facilities for students and faculty. The shared facility will be expanded year-on-year to simultaneously train about 1000 students at any point in time, in a completely residential mode. This will enable many corporates looking for readymade integrated training and residential facilities in a cost effective manner to avail this facility.

To know more about Excel Finishing School, visit  www.excelfinishingschool.com

Upcoming education institutes at MARG Swarnabhoomi

• MARG Institute of Technology Swarnabhoomi (MITS) -AICTE approved engineering college, will have BE programs in Civil, Mechanical, Electrical & Electronics Engineering
• MARG Institute of Management and Entrepreneurship (MIME) will offer management programs in Real Estate, Infrastructure, Port and Logistics Management
• MARG College of Arts & Science (MCAS) will offer degree programs in B.Com, BBA, BCA, B.Sc (Hotel Management) and B.Sc (Computer Science). The differentiator at MCAS will be the dual program which a student can choose and be more industry ready. It is the key differentiator to the college, attracting larger numbers
• Swarnabhoomi International School (SIS) -The school will be the first fully residential International school in 100 Km radius around MARG Swarnabhoomi
• MARG Swarnabhoomi Institute of Creative Technology (MSICT) -Initial student Intake at MSICT in year 1 (2013) will be 60 (30 for each course viz. multimedia/ animation)
• Central Institute of Technology (CIT) – Signed MoU with Central Institute of Technology (CIT), Western Australia to offer vocational courses in India
• Global Student Top Up Program (GSTP) will offer, primarily cognitive and skill related programs to the global youth

To know more about upcoming educational institutions at MARG Swarnabhoomi, click here

Government to relax SEZ land norms soon

The ministry of commerce and industry would soon announce relaxed land-related norms for Special Economic Zones (SEZs) to arrest the slackening pace of growth in these tax-free zones by making certain changes in the SEZ policy.

In a major amendment to the policy, enacted in 2006, for the first time the government will change the minimum land requirement across all sectors. It will reduce the threshold limit for each sectorspecific SEZ, in the wake of severe constraints faced by the developers in acquiring huge tracts of contiguous land. At present, the minimum land required for multi-product, multi-service, information technology and gem and jewellery SEZs is 1,000 hectares (ha), 100 ha and 10 ha each, respectively. This is also referred to as the ’10-100-1,000′ model.

The problem faced by most developers is with acquiring land for multi-product SEZs of 1,000 ha that is ‘vacant’ as well as ‘contiguous’.The government has now planned to reduce the minimum land requirement significantly.

Source: The Economic Times, Delhi/NCR

World class Engineering SEZ at MARG Swarnabhoomi

Engineering SEZ
An ideal destination to set up your manufacturing facilities

Welcome to a world class Engineering SEZ, designed to pursue business excellence on a land of new thinking. Spread over 311 acres of land with over 156 acres of processing area, the meticulously designed Engineering SEZ intelligently caters to every minute need of the engineering industry, making it an ideal destination to start up your operations.

SEZ in Chennai at MARG Swarnabhoomi

Engineering SEZ is set in the mega township of MARG Swarnabhoomi. The project has created a business-friendly ecosystem by utilising smart economy, smart governance, smart environment, smart people (social and human capital), smart mobility (ICT), and smart living.

Set on the strategic ECR stretch, “the growth corridor” of the future and being close to Chennai, Engineering SEZ has access to world class academia. It is also well connected via road, rail & airport and unlike other industrial clusters, it has all the facilities to foster business. Away from common din of the cities, located at scenic backwaters of ECR, the city is planned in such a way that it harmonizes with nature and offers scenic tranquillity and peacefulness to uplift human mind and soul.

VALUE PROPOSITION

World Class Infrastructure: The amount of effort and investment required to benchmark India in a global scale is only possible with involvement and expertise of private players in such projects. Engineering SEZ project is one of a kind, with a vision to provide world-class infrastructural amenities. Besides basic amenities like power, water and communication, it also has 24-7 security, technologically advanced medium for water treatment and recycling, etc. Companies in Engineering SEZ make use of better infrastructure and facilities, to enhance their production capabilities.

Holistic Ecosystem: Inspired by major R&D and innovation centers from across the globe, Engineering SEZ aims to develop a region with holistic ecosystem by providing an environment which nurtures innovation in the engineering sector.

In sync with Environment: Unlike other industrial clusters, Engineering SEZ not only has all the facilities to foster businesses but is also connected with nature. Away from common din of the cities, located at scenic backwaters of ECR, the entire city is planned in such a way that it harmonizes with nature and offers scenic tranquility and peacefulness to uplift the human mind and soul.

SEZ BENEFITS

Enjoy the host of benefits of setting up an operation in an SEZ:

• Duty-free import / domestic procurement of goods for development, operation, and maintenance of units
• External commercial borrowing by SEZ units up to US$ 500 million in a year, without any maturity restriction, through recognized banking channels
• Exemption from central sales tax and service tax
• Single window clearance for central and state-level approvals
• Exemption from state sales tax and other levies

INFRASTRUCTURE SOLUTIONS

• The infrastructure offerings of the Engineering SEZ provide design flexibility and space scalability to help companies get established and grow
• Choice of convenient factory facilities to match your needs
  • Plug & play infrastructure: Floor plate flexibility (10,000 sq.ft. onwards)
  • Built-to-suit format
  • Incubation centre
  • Developed land parcels: Spaces ranging from 1 acre to 20 acres

LOCATION ADVANTAGES

• Easy access to the sea of business opportunities
• Proximity to Electronic Hub
• Close to two major ports, a minor port and a domestic and international airport
• Engineering SEZ will have business access to cities in India and abroad  and they will enjoy ease of operation and save heavy cost on logistics
• Located on scenic East Coast Road (ECR), mid-way between Chennai and Puducherry

TN to get 6 more industrial parks soon

Industries minister on April 19 said six new industrial parks will be established across the state spread over 8,000 acres. He told the assembly that these parks would come up in Sriperumbudur, Cheyyar, Tuticorin, Madurai, Oragadam and Tindivanam.

The minister said the new park in Sriperumbudur will generate direct employment for 3,000 persons and indirect jobs to 20,000 persons. This park would be spread over 1,780 acres. “Many MNCs have evinced an interest to establish units in their park,” the minister said.

The Cheyyar industrial complex would entail an expansion on 2,300 acres of land while in the case of Tuticorin it would be 1,179 acres under Phase II for the Thoothukudi industrial complex. In case of the Madurai industrial park, the government is in the process of acquiring 1,478 acres and 720 acres of land in the Tindivanam industrial park. Land extending 616 acres will be added to the Oragadum industrial growth centre under Phase II of the project.

In addition, SIPCOT (State industries Promotion Corporation of Tamil Nadu) is also in the midst of preparing a comprehensive plan for Sriperumbudur with the help of consultants to upgrade basic social infrastructure and also housing facilities for employees in the region. “The government has issued orders for 100 acres of land each to be allotted by SIPCOT for setting up separate industrial parks for investors from countries like Japan, Korea, Finland, Germany and France to attract more foreign investment,” Thangamani said. The allotment would be made after acquisition of lands in the Sriperumbudur industrial park expansion (Vallam-Vadagal scheme).

In addition, SIPCOT has identified another 25,000 acres to develop the industrially backward southern districts. “It is proposed to create a land bank of 20,000 acres to fulfill the Tamil Nadu Vision 2023 document,” the minister said.

SIPCOT is exploring the possibility of establishing a water treatment plant to meet the present water requirements of 10 MGD (million gallons per day) for industrial park requirement either through a public private partnership model or with Chennai Metro Water.

TIDCO (Tamil Nadu Industrial Development Corporation) is also in the process of constructing bio park Phase II that will provide an additional lab space of 6.13 lakh square feet for bio technology, pharmaceuticals, nano technology and other research and development activities at a cost of Rs 150 crore at Taramani, Chennai and is also planning a LNG (liquefied natural gas) import terminal at an estimated cost of Rs 4,320 crore near Ennore.

Source: The Times of India, Chennai

All Star Faculty – SAM

The First Professional College Of Music In India to offer a range of programs in contemporary music that includes Rock, Jazz, Classical, Carnatic and World music. With world renowned faculty and top of the line facilities.

Swarnabhoomi Academy Of Music
www.sam.org.in

 

IT hubs like Chennai, Bangalore will see more SEZ developments

The relaxation of land norms for SEZs will have wide-ranging implications for commercial real estate development in the country.

SEZ in Chennai -Marg swarnabhoomi

Instead of 25 acres which used to be the minimum required area for developing a single product SEZ, now SEZs can be promoted on even a 6.6 acre land as IT development has accorded higher floor space index (FSI is ratio of land area to built-up area) in many cities. Chennai, for instance, permits 3.75 FSI for IT development. As per the new norm, the building should have one lakh sqm area (10.76 lakh sq ft) to be classified as SEZ in seven major cities. In category B cities, the minimum built-up area specified is 50,000 sq metres and in remaining ones it is 25,000 sq metres.

The most encouraging aspect is that many more IT companies will now be able to launch their own SEZs. Previously, only the largest IT players could have their own IT SEZs, given the capital required to buy 25 acres land. Developers will now be able to aggregate smaller contiguous land parcels and turn them into SEZs.

The vacancy level was very low in SEZs located close to Chennai city. Even as about one crore million sq ft of small IT parks is lying vacant in the city and outlying areas, there is no space in SEZs. “Owing to relaxation of norms, at least two to three new IT SEZs will come up close to the central business district in Chennai” While SEZs fetch between Rs 40 and Rs 50 per sq ft as monthly rental, stand-alone IT parks are available at even Rs 20 per sq ft.

Further, some IT SEZ developers who have already met the one lakh square metre built-up area criterion will now convert the balance land for residential use, giving the mixed-use edge while also making the formation of many more walk-to-work residential projects possible.

Real estate developers will now be able to also divide up their land holdings and allocate smaller parts to IT companies to construct their own IT SEZs.

Another important outcome is that it will now become easier to exit from SEZs, given that the transfer of ownership of SEZ units – including sale – has now been allowed. Moreover, real estate private equity funds with foreign capital will now be able to do smaller deals, and this is bound to bring in more FDI into the sector.

 

Jeff Richman Summer Jazz/Rock Shred Camp for guitar players – June 15,16,17 2013

Come and study at SAM for three days with a Jazz/Fusion legend and star guitar faculty of Musicians Institute (MI) in Los Angeles.

Virtuoso guitar master Jeff Richman is one of America’s most prolific guitarists in the Jazz/Rock and Fusion genres. Jeff has been among the ‘A’ list of Los Angeles players for the last few decades. His huge body of work includes concerts all over the world and 16 solo albums as leader on numerous record labels. He has performed with such major artists as B.B. King, Henry Mancini, Manhattan Transfer, Blood Sweat and Tears, Billy Cobham, Pat Martino, Steve Lukather, Eric Johnson, Dave Weckl, Vinnie Coliauta, Steve Morse, Simon Phillips, Steve Gadd, Airto Moreira, Flora Purim. His Compositions have been recorded by Cliff Richard, Robbie Krieger of The Doors, Vital Information and other artists. Jeff’s long list of performances in feature films and Television include Beethoven 3^rd and 4^th, The Hollywood Sign, Las Vegas, Never Ending Story, That thing you do and several others.

Links
www.jeffrichman.net

Jeff produced a series of 6 CDs featuring some of the world’s most in demand players for Tone Center Records. These CDs were tributes to John Coltrane, Miles Davis, Steely Dan, Mahavishnu Orchestra, Carlos Santana and Jeff Beck. He performed a few years back in Mumbai with an all star band of musicians from Yellow Jackets – Russ Ferrante, Jimmy Haslip and Will Kennedy. Jeff is currently in the studio recording his 17^th solo album with drum legend Steve Gadd, bass masters Jeff Lorber and Jimmy Haslip and keyboard stars George Whitty and Alan Pasqua.

Jeff has been a star guitar faculty at Musicians Institute for several years. His exceptional contributions to MI’s guitar program is well known. He is a world class educator, respected for his exceptional teaching methodologies.

Program for Camp

Jeff Richman, the consummate guitar player, teacher, composer and arranger will bring his decades of top-notch performance and LA studio experience to hone the technical and musical skills of Camp students. Through a well defined hands on approach designed to bring out all aspects of musicianship, Jeff will focus on melodic and chordal approaches to improvisation, composition, arranging and interpretation.

All day Classes and playing sessions will include listening, analysis, tools for effective studio playing, gear, playing over chord changes, pro guitar insights on stylistic approaches and more.

Jeff and the students will work with a Rhythm Section of brilliant musicians and SAM staff Wayne Fernandez on bass and Shyam Rao on drums in classes and ensembles to make the sessions fun, productive and practical. Students will work on a range of musical material including Jeff’s originals and will perform innovative arrangements of songs of artists such as Stevie Wonder, Jimi Hendrix, Jeff Beck, Herbie Hancock, Joe Zawinul, John Scofield etc, all customized by Jeff specifically for this Camp.

The morning sessions will be devoted to classes and afternoon sessions to ensembles. Student ensembles coached by Jeff will perform a concert at the end of the Camp at SAM’s beautiful terrace theater with world class equipment in a dream setting under the stars, making it a fitting finale to what promises to be one of a kind experience for guitar players!

Visit :http://sam.org.in/

Difference between Lease and License Agreement

•  Lease is an inheritable right, which is available as a right against any person in the world. License is not an inheritable right. It is personal and exclusive to the Licensee and on death it automatically stands revoked.
• Lease creates interest on the leased property in favour of the lessee. In License no such interest is created in the Licensee.
• • Lease interest can be assigned. License is not assignable.
• • Denial of Lessor’s title results in forfeiture of lease. It is not so on a License.
• • Remedy of breaches in case of lease is that lease can be enforced. In the case of License only suit for damages can be filed.
• • Termination of lease requires notice to be served on the lessee. Termination of License can be done without notice.
• • Lease deed requires registration under Registration Act 1908 and Transfer of Property Act 1882 if the value of property exceeds Rs 100 or lease duration exceeds 11 months. Earlier in case of leave and real estate License agreement registration was not compulsory. However according to recent amendment in Maharashtra, stamp duty and registration is made compulsory.
• • A Lessee can sue stranger or third party in his own name. A Licensee cannot do so. Hence it can be constructed from the above that under terms of agreement in respect to land and building for commercial purpose, exclusive possession is not given, and there is a covenant for delivery of vacant possession after expiry of the terms of agreement, the agreement would be a License and not a lease. Hence the cardinal distinction between a lease and License is that in the former there is a transfer of interest of the immovable property to enjoy, whereas on the latter case there is no transfer of interest on immovable property at all.
• License only acquires a right to occupy premises. When premises are given out on lease or tenancy basis, the legal possession of the premises in these cases is also deemed to be transferred to the lessee or tenant respectively. Source: Maharashtra Societies Welfare Association