writingonblog uncensored: IIM, Bangalore to help TN prepare Value Capture po...

writingonblog uncensored: IIM, Bangalore to help TN prepare Value Capture po...: Chennai: Tamil Nadu government is seeking the help of Indian Institute of Management, Bangalore, for helping in prepare Value Capture P...

IIM, Bangalore to help TN prepare Value Capture policy for Amrut cities

Chennai:

Tamil Nadu government is seeking the help of Indian Institute of Management, Bangalore, for helping in prepare Value Capture Policy for all Atal Mission for Rejuvenation and Urban Transformation (AMRUT) cities and towns in the state.

This comes as Ministry of Urban Development has come out with a policy framework for an innovative resource mobilization through Value Capture Financing (VCF) to enable States and city governments raise resources by tapping a share of increase in value of land and other properties like buildings resulting from public investments and policy initiatives, in the identified area of influence.

The proposed VCF policy framework that works as a guide to state and cites will assist in assessing the scope of resource mobilization, identifying the area of influence of proposed projects and optimizing resource mobilization.

The different instruments of VCF are ; land value tax, fee for changing land use, betterment levy, development charges, transfer of development rights, premium on relaxation of Floor Space Index and Floor Area Ratio, vacant land tax, tax increment financing, zoning relaxation for land acquisition and land pooling system.

It is learnt that a high-level meeting was held on January 31, 2018 where in Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited (TUFIDCO) has IIM Bangalore for implementation of Venture Capital Financing as transformative reforms in AMRUT.

A total of 33 towns in the state have been selected under the Amrut scheme of which eight are within the jurisdiction of Chennai Metropolitan Development Authority and 25 are under Directorate of Town and Country Planning (DTCP).

The Centre is keen about integrating VCF into project feasibility assessment for systematic and large scale adoption of capturing a part of potential increase in the value of land and other properties resulting from the proposed investment.

It is learnt that TUFIDCO has asked Chennai Metropolitan Development authority to submit details like planning development fund, charges for premium Floor Space Index, revenues from development charges, open space reservation charges and L&T Ramboll report on densification of MRTS corridor to Indian Institute of Management, Bangalore.

Value Capture is based on the principle that private land and buildings benefit from public investments in infrastructure and policy decisions of governance.

The Centre is planning to implement Value Capture Financing as the municipalities which receive a fair share of handholding support in the form of revenue and grants from the State as well as Central Governments are still struggling to meet their fiscal needs.A burgeoning urban population has also resulted in increased demands from the population for provision of services and amenities. Thus, adopting VCF mechanisms by municipalities will strengthen and augment the fiscal resources of local bodies, sources said.

Factfile:

1.  1. A McKinsey report has estimated that around Rs 325,000 crore1 of urban infrastructure investments are required annually.

2. The High Powered Expert Committee Report 2011 projects urban infrastructure requirement at 0.75%, which will increase to 1.5% of the GDP by 2032 (Rs 97,500 crore to Rs. 195,000 crore annually).

3.  Presently, national urban missions are investing about Rs 32,500 crore annually leading to an investment gap of nearly Rs 65,000 crore.

4.   Value Capture as practiced widely in the world is based on the principle that private land and buildings benefit from public investments in infrastructure and policy decisions of Governments.

5.  VCF tools can be deployed to capture a part of the increment in value of land and buildings. In turn, these can be used to fund projects being set up for the public by the Central/State Governments and ULBs

writingonblog uncensored: TN yet to file counter affidavit in 3,447 cases

writingonblog uncensored: TN yet to file counter affidavit in 3,447 cases: Chennai: Tamil Nadu government has yet to file counter affidavits for 3,447 cases despite setting up Court Case Monitoring System (CCM...

TN yet to file counter affidavit in 3,447 cases

Chennai:

Tamil Nadu government has yet to file counter affidavits for 3,447 cases despite setting up Court Case Monitoring System (CCMS), an IT-based application to monitor cases pending against the state government department or officials.

Official sources indicated that during a high-level meeting chaired by Chief Secretary recently, all secretaries have been urged to take effective steps to file the counter-affidavits at the earliest.

It is learnt that many a times the cases pertaining to departments have not been fed into the CCMS. The meeting has urged upon the secretaries to enter all contempt cases both pertaining to secretariat as well as department into CCMS, sources added.

The CCMS, which was created after more than 20,000 contempt of court petitions were pending against Tamil Nadu government officials in Madras High Court and Madurai Bench between the year 2010 to February 16, 2014.

Meanwhile, the state government has asked all secretaries and department heads not to make any noting on original High Court orders which are being used to appeal before the division benches.

It is learnt that Madras High Court Registry has been directed not to entertain any appeal with endorsements made on the copy of order.

This comes after an order was passed by the bench consisting of Justice K K Sasidharan and Justice P Velmurugan on February 21, 2018.

The judges in their order said that they have observed that the head of the department to whom the certified copies are dispatched by the registry tend to make endorsements on the order and the same copy is filed before the court and have directed the registry not to entertain any appeals with endorsements made on the copy of the order.

TN extends amnesty scheme for unauthorized buildings again!

Chennai:

Tamil Nadu government has extended the amnesty scheme by three months to grant lifeline to unauthorised buildings built before July 1, 2007 even as violators preferred to stay away rather than apply to regularise their buildings or flats.

As the original amnesty scheme for unauthorised developments set to lapse on Wednesday, a top official from the housing department said that the scheme has been extended by three more months.

As per information available with Express, Chennai Metropolitan Development Authority has till now received less than 500 applications for unauthorized building regulations. This is quite less when taken into account the number of unauthorized construction which could be more than 1.5 lakh.

The move comes after Madras High Court warned officials that they will be taken to task if they regularize buildings with setback violations. It is learnt that CMDA has sought legal advice from the advocate general whether to carry on with the regularization by regularizing building with setback violations. However, the advocate general has suggested to CMDA not to regularize setback violations of unauthorized buildings but to appeal against the court order.

Initially when the first deadline was extended due to poor response, only 35 have applied for the scheme. Sources indicated that the poor response is due to multiple infrastructure and amenities charges as penalty before regularising the buildings.

Interestingly, the current regularisation scheme is different from the earlier one. In the earlier regularisation scheme there were no conditions except credible evidence about the structure. Now they have included the required setback for regularisaing the building. “This has made many builders and developers think as T Nagar buildings won’t fall under the norms,” sources said.

writingonblog uncensored: Chennai Finance City planned across Anna Salai str...

writingonblog uncensored: Chennai Finance City planned across Anna Salai str...: C Shivakumar @ Chennai: Chennai Finance City project, which has remained elusive since the last 10 years, is likely to take shape with T...

Chennai Finance City planned across Anna Salai stretch

C Shivakumar @ Chennai:

Chennai Finance City project, which has remained elusive since the last 10 years, is likely to take shape with Tamil Nadu Infrastructure Fund management Corporation working out an action plan to develop commerce hubs alongside Anna Salai from beyond Guindy till business district of Parrys.

Sources told Express that the project, which was envisaged under the Vision 2023 of former Chief Minister J Jayalalithaa, will provide modern office space, connectivity and knowledge base to provide high-end support to corporate entities belonging to finance sector under one-roof and decongest residential areas.

It is learnt that Chennai has 400 financial industry businesses headquartered in the city of which 200 are located in the main residential clusters of Mylapore, RA Puram, Nungambakkam and T Nagar which are congested and has put pressure civic authorities for additional infrastructure. 

Sources indicated that the plan is to develop Chennai Finance City or Tamil Nadu Commerce Hub as infrastructure project to accommodate public-private financial institutions, start-up parks and to develop the objective of Chennai Metro’s transit oriented development (TOD).

It is learnt that land parcels on Anna Salai are being identified for the project. Sources said that eight acres of land belonging to Tamil Nadu Housing Board and 1.4 acres belonging to slum clearance board in Nandanam could be taken up for possible development as anchor and satellite office. Similarly, one location at Guindy near to Airport and other at Parrys need to be identified besides having nano office parks in Greater Chennai Corporation and Hindu Religious and Charitable Endowments land along Anna Salai.

Meanwhile, TNIFMC is conducting a market survey to ascertain the demand for office complexes, convention centres and other kinds of development. The reason to select Annna salai stretch is that it has all major localities of the city feeding traffic into it. It is learnt that Chennai Metro rail’s land in Nandanam is also being considered for the Chennai Finance city. 

The move for Chennai Finance City comes after the state government was toying of having such a project on the outskirts of the city. At that time the government was looking at Sriperumbudur or Oragadam for the proposed city, which is expected to create around 30,000 jobs.

Interestingly, it was in 2009, the then Deputy Chief Minister and Dravida Munnetra Kazhagam leader M K Stalin mooted the idea of financial city at Shollinganallur, in the IT Corridor of Chennai. Tamilnadu Industrial Development Corporation (TIDCO) then had identified 180 acres of land in Sholinganallur - Perumbakkam villages for the proposed Financial City. However the project did not take off.

Factfile;

1. The financial city is being proposed to decongest residential areas of Chennai city

2. Chennai has vibrant financial industry with 400 financial businesses headquartered in the city alone

3. 200 of such business are located in the residential clusters of Mylapore, T Nagar, RA Puram and Nungambakkam.

4. The development of commerce hub along Anna Salai is proposed as the stretch has all major localities feeding traffic into it

5. The upcoming Chennai Metro Project will improve the connectivity to this proposed financial hub.

writingonblog uncensored: More than 42 nations confirm participation in Che...

writingonblog uncensored: More than 42 nations confirm participation in Che...: Chennai: More than 42 countries will be participating in the DefExpo being hosted in Tiruvidanthal, Kancheepuram district, on the East C...

writingonblog uncensored: TN govt planning to float bonds and redevelop bus ...

writingonblog uncensored: TN govt planning to float bonds and redevelop bus ...: C Shivakumar @ Chennai: Tamil Nadu government is planning to revive the fortunes of state transport corporation, which is bleeding with ...

TN govt planning to float bonds and redevelop bus depots to revive fortunes of transport corporations

C Shivakumar @ Chennai:

Tamil Nadu government is planning to revive the fortunes of state transport corporation, which is bleeding with outstanding liabilities worth $ 1 billion mainly on account of retirement and salary dues, by monetizing the bus depots through redevelopment and by offering affordable housing bonds.

The Tamil Nadu Transport Corporation, which requires an investment of Rs 2,000 crore to replace non-functional fleet, is now looking at a revival plan by creating a viable fare structure and revision model, seeking low cost funding from German agency KfW to modernize the fleet with battery operated buses as well as reconstructing the depot to accommodate commercial, retail and residential real estate.

It is learnt from sources that Tamil Nadu Infrastructure Fund Management Corporation has offered to help in the bus depot redevelopment and integrating the bond with the project.

The bond being floated by the transport department can be redeemed against affordable housing apartments under Pradhan Mantri Awas Yojana or commercial or retail space in the newly developed depot sites when it becomes available.

The flats will be sold outright through a special purpose vehicle which will also perform the operation and maintenance of the building so that the quality of apartments is maintained.

The redeveloped bus depots are proposed to have three separate zones. These include the bus area, the commercial area and the residential apartment area catering to low income and middle income group.

It is learnt that apartments in the depot, which will be in prime areas, will be given to employees or ex-employees of transport department and the rest sold on commercial basis.

Initial proposal suggests that possible buyers of the bonds will be current and former employees of the transport corporations based on dues till March 31, 2018 as well as public sector banks on behalf of employees based on amounts due to them.

It is learnt that studies are being undertaken on site suitability for redevelopment of bus depots for commercial and residential purposes as well as res-alignment of roads.

Interestingly, the move by state government comes in the wake of housing department struggling over construction of 8.30 lakh houses under Pradhan Mantri Awas Yojana (PMAY) for urban areas as it doesn’t have enough funds or land to build homes for those who are houseless.

As on date the state has obtained sanction of 3.29 lakh houses from Centre under PMAY under the Credit Linked Subsidy Scheme (CLSS), Affordable Housing in Partnership scheme and Beneficiary Led Construction scheme. Sources said the Union government provides a subsidy of only Rs 1.5 lakh per house under the affordable housing in partnership while the cost of construction of multi-storied units in Chennai ranges from Rs 9 to Rs 10 lakh and Rs 8 lakh to Rs 9 lakh in other parts of the state.

Factfile:

1. The State transport corporation has outstanding liabilities of $1 billion mainly on account of retirement and salary dues

2.  It requires an investment of Rs 2,000 crore to  replace non-functional fleet

3. Among the various revival plan, the state government is looking at a proposal to redevelop existing bus depots and accommodate commercial, retail and residential properties.

4. Plans are also to avail the funds under the Pradhan Mantri Scheme to build affordable homes at the bus depot

5.  The bonds will be offered to current and former employees of transport corporations based on dues till March 31, 2018

More than 42 nations confirm participation in Chennai defence expo

Chennai:

More than 42 countries will be participating in the DefExpo being hosted in Tiruvidanthal, Kancheepuram district, on the East Coast Road near Chennai from April 11.

The four day DefExpo, one of the largest event of its kind in the world for the last 10 years, will be held in two lakh square metre of space. Both foreign countries and domestic defence industries will participate in the event.

The countries that have confirmed participation include major defence manufacturing nations like United States, United Kingdom, Russia, France, Israel, Korea, Sweden among others.

Several of the delegations participating in the DefExpo are expected to be at the ministerial level. Several top service officers from the three forces are also participating in the DefExpo 2018.

The main theme of DefExpo 2018 is to showcase India as a major hub of defence production in the world.

writingonblog uncensored: Chennai to join the list of 50 data driven cities

writingonblog uncensored: Chennai to join the list of 50 data driven cities: C SHIVAKUMAR @ Chennai: Chennai Smart City will soon figure among the list of more than 50 cities that has been certified by the World...

Chennai to join the list of 50 data driven cities

C SHIVAKUMAR @ Chennai:

Chennai Smart City will soon figure among the list of more than 50 cities that has been certified by the World Council on City Data Certification (WCCD), the first ever ISO standard for cities.

Once certified, Chennai can work towards emerging as smart and sustainable city with independently verified and globally comparable city data.

Three Indian cities --- Pune, Surat and Jamshedpur have got the certification from World Council on City Data, a global network of data driven cities under the City Data for Indian initiative.

The WCCD ISO 37120 certification if given for Chennai, which is an international standard, published for globally-comparable city data, provides a comprehensive set of indictors to measure the city’s social, economic and environmental performance in relation to other cities.   

Categorized under 17 themes and 100 indicators for city services and quality of life, ISO 37120 certification will guide the city towards a smart, sustainable, resilient, and prosperous future armed with independently verified and globally comparable city data. WCCD certification ensures data reliability with third party verification.

The certification is given to Indian cities after Tata Trusts partnered with WCCD and initiated City Data for India Initiative to explore technology backed models for collecting data and visualization to support evidence-based, data-driven governance and decision making.

The move to seek WCCD certification comes as Chennai’s smart city proposal features in the top 20 best propositions proposed by the cities in the country.

Sources indicated that Chennai before joining the City Data for India Initiative has to complete City Participation Agreement and the WCCD Certification and Registration Agreement to formalize its participation.

Once ISO 37120 certified, Chennai will be included in WCCD’s Global Cities Registry. The data pertaining to the city is then available on WCCD’s Open City Data Portal and can be accessed by civic bodies, state and central authorities, international bodies and the public.

According to United Nations (UN) report, 54 per cent of the world’s population currently live in cities, and by 2050, this proportion will increase to 66 per cent. It is learnt that data on cities will help policy makers and city planners steer and measure the performance of city services and quality of life.

1.  The World Council on City Data is the first ISO standard certification for cities

2.  More than 50 countries are part of the global network of data driven cities

3.  Chennai is vying for certification as its smart city proposal features in the top 20 best propositions proposed by the cities in the country

4.  Once ISO 37120 certified, Chennai will be included in WCCD’s Global Cities Registry.

5.  The data pertaining to the city is then available on WCCD’s Open City Data Portal and can be accessed by civic bodies, state and central authorities, international bodies and the public

6.  A comprehensive set of indictors will measure the city’s social, economic and environmental performance in relation to other cities.  

7.  It will help the city compete with global cities and ensure world class civic and other services are provided to Chennaites