REBI Property Experts

ENHANCING OCCUPATIONAL WELLNESS

noreply@blogger.com (E-commerce Department) — Sat, 11 Dec 2010 09:57:00 +0000

By: Braj Kishor Gupta

Ours is primarily a volatile age. Everything seems to be in a state of flux. Change has become a reality perhaps much more prominent than ever before. Against this background, we need to understand the concept of occupational wellness. It was till recently we only talked about occupational hazards. The focus then was on the limitations and seamy side of life. For instance, the employer would look for an opportunity to find faults with the employee. Today the same employer looks for a chance to appreciate the work done by the employee. This is a case of paradigm shift. This shows a change in our mindset, our desire to explore the brighter side of life. This is a welcome change.

This change has taken place due to the explosion of new knowledge. We live in the knowledge bank society. We are getting enlightened every moment unlike Buddha’s Enlightenment that happened but once. Today we know for sure that human mind is the most precious gift to humankind. It is of paramount importance to have a tranquil mind. To be at peace with oneself is all about achieving mental wellness. There is a direct link between personal wellness and professional wellness. So, there is no point talking about occupational wellness without ensuring that the individual’s needs are met & her/his emotional intelligence is also well taken care of. It is then and then alone that the person besides being at peace internally can be in harmony with the outside world. After all, everything is truly created twice, first in the workshop of mind & then in reality.

Fortunately, occupational wellness can be improved. Among many factors that can contribute to it, the following deserves special mention:

SELF ESTEEM- A person is in fact the sum total of the self esteem. It is important that the employee is made to feel good. It is this feel good factor that would go a long way in maximizing both personal wellness & professional wellness of the person. The person needs to be told about her/his strength time and again. William James, a noted psychologist is right when he says; the greatest desire in human nature is the craving to be appreciated.

LEARNING NEW SKILLS- In order to remain confident in life one has to keep learning new skills. After all, what was relevant till yesterday is fast becoming irrelevant today. We live in an age of obsolescence. There is a need to learn and acquire new skills & knowledge both for our survival and achieving excellence in life. This has a direct bearing on mental as well as occupational wellness.

ATTITUDE OF GRATITUDE- Life is indeed a beautiful blend of good and bad. We need to choose. Man is privileged to be a choosing creature. Hence, we can learn to count our blessings. The more we think of our blessings, the blessings will multiply. The Bible says what you focus on will multiply. Can we begin the day by thanking the Lord for heralding the new dawn & go to bed by showing our gratitude to Him for making our day.

Life is indeed the most precious gift of God. It is our birth right to smile & with smile around mental wellness and occupational wellness cannot be far behind

Mantri Square launches a unique retail training initiative - Mantri Square Edge

noreply@blogger.com (E-commerce Department) — Tue, 30 Nov 2010 06:59:00 +0000

Bangalore, November 9, 2010: Mantri Square Shopping Mall today launched Mantri Square Edge, a unique retail training initiative conceptualized by the Mall’s management Team in close association with the Indian Retail School and RetailSpark. The Mantri Square Edge is the first-of-its kind retail training and mentorship initiative in the country by any shopping mall. The objective of this training program is to empower and add an edge to people employed in the retail sector by providing thoughtful mentoring, insightful training and meticulous grooming.

Realizing the importance of and the growing need for polished retail professionals in the country, Mr. Jonathan Yach, CEO Mantri Square Mall, said, “Well trained staff makes for a stronger workforce, better management teams, and impacts business hugely. We recognized the need-gap that exists in the fast paced Indian retail industry for adequately skilled manpower and decided to create this unique training program to meet the demand. We want the entire retail sector to benefit from this program and have therefore invited participation from our in-house retail tenants to enroll their staff members and kick-start the program.”

The Mantri Sqauare Edge training program comprises of an elite panel of some of the country’s finest trainers in the retail space, with practical hands-on experience in a wide range of niche categories. The trainings are holistically developed and begin with identifying specific training needs and then designing, developing and delivering suitable training solutions.

Corporate trainings at Mantri Square Edge include trainings on Retail Fundamentals, Personality Development, Sales & Marketing Skills, Smart U and Communication Skills amongst others. These trainings encompass all the key learning needed for a fulfilling career in the retail sector. Whether the employee is a new sales recruit or an experienced sales manager, the Edge has modules that will sharpen and hone their skills.

The In-store Retail Assessment and Training which is a part of the Mantri Square Edge training program includes observation, guidance and refinement in day-to-day tasks such as body language, communication and team work. The In-store training also focuses on specifics such as identifying the target customer to visual merchandizing, inventory control, conversion rate and even handling complaints. The training modules at Mantri Square Edge involve a rigorous honing of sales and marketing skills, unique personality traits, retail fundamentals, social etiquette, communicative abilities and inter-personal and business relationship skills. The Mantri Square Edge will empower your employees to take greater pride in their work and emerge real winners.

Perty Prices May Crash As Loan Scam Hits Funding

noreply@blogger.com (E-commerce Department) — Tue, 30 Nov 2010 06:54:00 +0000

MUMBAI/NEW DELHI: Finance minister Pranab Mukherjee’s direction to state-run lenders to prevent a recurrence of the loans-for-bribes scandal, and banks’ decision to go for a critical appraisal of all real estate loans above Rs 50 crore may stall projects and drive developers to private funds.

Liquidity for the sector may dry up as bankers turn cautious in sanctioning fresh loans, forcing builders to cut prices to improve cash position, helping prospective buyers who have been holding on due to high prices.

DB Realty tumbled 10%, Indiabulls Real Estate lost 5.2%, DLF fell 3.8%, and Unitech declined 6% as a fund shortage threatens to derail their project execution, which had just started to show signs of recovery after the 2008 credit crisis.

The arrest of eight finance executives by the Central Bureau of Investigation on Wednesday on charges of taking bribes to sanction loans does not lead to a systemic risk since the amount involved is tiny, bankers and bureaucrats said. It is getting more attention than it deserves, they said.

“ banks and financial institutions should strengthen the NPA (non-performing assets) monitoring and management in their institutions to ensure that advance action is taken to identify incipient sickness and take appropriate action on it,” said Mukherjee.

A Bank of India official said, “All big-tickets loans, particularly to builders, will come under the scanner now. Recall of loans can happen if there is a fear that the quality of loans may suffer. But as of now, there is no such worry and hence it would not prompt us to recall loans.”

The arrest of finance sector executives for alleged corruption and passing on information regarding these transactions has shaken the banking sector. Bank of India, Central Bank of India and LIC Housing Finance , whose executives were arrested, have said they followed set norms and any violation may relate to individual cases involving specific executives.

“There is no chance of anything becoming NPA as a result of what has happened,” said TS Vijayan, Chairman of LIC, the parent company of LIC Housing Finance. CBI has said, in-custody LIC Housing CEO Ramachandran Nair, has confessed to the involvement of other board members, according to Times NOW news channel.

Some of the telephone conversations of these arrested executives have also been tapped, it said. “There will be repercussions in terms of increased caution by banks while lending to developers,” said Anuj Puri, Chairman & Country Head, Jones Lang Lasalle India. “Borrowing will become more expensive and the process involved in getting it will get lengthier as banks increase their vigilance levels.”

While the panicky bankers would stay from decision-making for a while, there is unlikely to be any recall of sanctioned loans that would be disruptive.

“There is no question of recalling loans since all the procedures of giving loans are followed,” said KR Kamath, CMD of Punjab National Bank , one of the banks named by CBI. “There is no need for any knee-jerk reaction. However, the loans that are sanctioned will be reviewed.”

An unintended consequence of the scandal could be lower prices for home buyers as developers look to sell at a faster rate to improve cash flows. “If one looks at the last three quarters, sales have been dropping and most developers have built lot of debt pressure on their books,” said Pankaj Kapoor, Managing Director of property consultant firm Liases Foras.

`This issue, along with tighter measures already announced by RBI in its policy review, may expedite the process of correction,” he said, estimating the correction to be at least 25%. This scandal need not necessarily be as bad as the ones in 1992 and 2001, when investors lost thousands of crores of paper wealth.

HDFC And JLL Fear Loans Will Be Dearer

noreply@blogger.com (E-commerce Department) — Tue, 30 Nov 2010 06:35:00 +0000

NEW DELHI: Major realty players and mortgage leader HDFC on Thursday expressed apprehensions that bank loans would become costlier in the wake of housing finance racket coming to light, but State Bank of India sought to allay any such fear.

Hinting at a price correction in the realty sector as a fallout of the scam, the HDFC chairman, Mr Deepak Parekh said every lender will become “cautious” while lending to companies in the real estate and infrastructure sectors.

“Some developers will bring prices down and sell…The unsold stock with developers is huge across the country. In this scenario, prices cannot go up definitely,” Mr Parekh added.

Global property consultant Jones Lang Lasalle said bank loans would be dearer and lenders would be extra cautious in offering loans to developers following the housing finance scam racket.

“There will be repercussions in terms of increased caution by banks while lending to developers. Borrowing will become more expensive and the process involved in getting it lengthier as banks increase their vigilance levels," JLL India chairman and country head, Mr Anuj Puri said.

State Bank of India chairman Mr O P Bhatt, however, sought to allay any such apprehension saying that the housing finance scam would not have any impact on loans to the realty sector.

“We are always cautious when we lend and you know there are always bad loans… Why should it impact (lending to real estate sector),” Mr Bhatt said.

“I won’t say that (the current system) is perfect. But there is no need for any alarm. I don’t think there is any systemic risk that we are talking about. These are individual cases,” he added.

The Yes Bank managing director and CEO Mr Rana Kapoor too said “it (housing finance racket) is just an aberration. It is exception to the rule so it is not going to have a serious impact”.

Real Estate IREO under Tax Scanner for Black Money Roundtripping

noreply@blogger.com (E-commerce Department) — Thu, 25 Nov 2010 06:36:00 +0000

Real Estate is the most Corrupt Sector in India regularly making news for scams and scandals.Most Real Estate Companies in India are under scrutiny for Tax Evasion,Contract Infringements,Siphoning of Pension Money,Consumer Harassment etc.However the game continues on without any conviction or prosecution.Politicians,Judges,Generals and Bureaucrats have all got a hand in this Real Estate Muck which was starkly brought out in the Adarsh Housing Scam.The Sector is riddled with inefficiency,ad-hocness,byzantine regulations which makes it an ideal hunting ground for corruption.

IREO,a new Real Estate Company which is making waves in India’s National Capital Region (NCR) with glitzy projects has now come under the tax scanner for illegal fund inflows from tax havens of Mauritius and Cyprus.It is alleged that black money from India has been roundtripped through these tax havens in the guise of Private Equity Money.It is an open secret that Black Money from India finds its way back to India through tax havens in the form of foreign investment when it just a roughtripping of domestic money.The figure quoted is around $1.5 billion of illegal money pouring into 26 companies associated with IREO.The company came into focus during the Commonwealth Scam and is linked to an Opposition Party leader.As usual their are denials,media circus and the whole thing will end as it does all the time with Nothing Happening.

India Real Estate: SEBI Asks AMCs To Keep Off Realty Debt

noreply@blogger.com (E-commerce Department) — Thu, 25 Nov 2010 05:57:00 +0000

MUMBAI: Capital

market regulator the Securities and Exchange Board of India (SEBI) has told

asset management companies (AMCs) to avoid exposure to real estate debt in

certain schemes. According to fund officials, SEBI has directed asset

management companies to mention a 'negative sector list' in their draft

prospectus, and give an undertaking that they will not invest in sectors

that appear in this list.

According to marketing officials at fund houses, the regulator is "prodding"

fund houses to include real estate in the negative sector list. However,

none of the fund houses ET spoke to, has received anything in writing on the

'negative sector list' or to limit their exposure to real estate companies.

"It is only conveyed to fund houses verbally. The directive to include real

estate in the negative list is happening more in the case of fund houses

that are launching capital-protected schemes," said the investment head of a

bank-promoted fund house.

The marketing head of a mid-sized fund house recently said at a press

conference that it has been asked by the regulator not to invest in bonds

issued by real estate companies. The fund house has also given an

undertaking that the capital protection scheme, which it recently launched,

will not invest in the black-listed sector, said the official. SEBI

officials were not available for comment. An email query to SEBI remained

unanswered at the time of going to press.

According to officials at fund houses, SEBI is worried about the debt

repayment ability of real estate companies, which often take on too much

debt. Also, the regulator is not satisfied with the reporting standards of

most real estate companies. Balance-sheet strength, land bank valuation,

authenticity of titles and project standards and execution are areas of

concern for SEBI. In October 2008, many real estate companies were unable to

meet their repayment schedule, forcing mutual funds to borrow externally to

meet redemptions.

"All regulators, including the RBI, are nervous about real estate," said

Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India, a real

estate consulting firm.

"At a broader level, we don't expect any trouble for developers. With

respect to non-payment of debt, we've not seen real estate companies

defaulting in the thick of recession. There was some rollover of debt, but

that was there for a short period. Credit risks have reduced greatly, with

most lenders opting to fund individual projects than capitalising the entire

company," added Anuj Puri.

According to analysts, real estate prices, across cities, have witnessed a

significant appreciation in the recent past. In fact, prices in some regions

have surpassed their highs of 2008. Real estate funding has also been picked

up over the past 11 months. The period between January and August has seen

private equity investors closing 25 real estate deals, totalling $990

million. Developers have raised Rs 1,109 crore by way of debt placements and

Rs 2,225 crore by way of public issues.

Indian Real Estate: Documents That Need To Be Registered Compulsorily

noreply@blogger.com (E-commerce Department) — Thu, 25 Nov 2010 05:48:00 +0000

The Indian Registration Act, 1902 and the Transfer of property Act, 1882 contain relevant provisions specifying documents that are compulsorily registrable, and those exempted from being registered. Under the law, some documents are compulsorily registrable.These include documents related to property. Registration of a document acts as a notice to the general public.

Under section 17 of the Indian Registration Act, 1902, there are a few documents that require registration compulsorily. These include:

A document of gift of property. Any gift deed irrespective of the value of the gifted property needs registration.

All non-testamentary documents that create interest, right or title in the property. All non-testamentary documents that extinguish any right, interest or title in the property.

Documents that declare, assign, limit or restrict interest, title or right in property.

All non-testamentary documents that acknowledge the receipt or payment of any consideration on account on a transaction pertaining to right, title or interest in property.

All non-testamentary documents transferring or assigning an award of a court which affects the interest, right and title in a property.

The documents may create, extinguish, assign, declare, limit or restrict interest, right or title in a property for the present or in the future.

Under Section 107 of the Transfer of Property Act 1882, lease of property from year to year, for a term exceeding one year, or reserving a yearly rent, must be done only under registration. The term “year to year” refers to a continuous lease from year to year – where the landlord has no option to terminate the lease at the end of the year without notice. The term “reserving yearly rent” means the lease has no definite period, but the annual rent is determined. The word “yearly” means the lease should run year after year or at least for more than one year. As such, any lease for over a year should be registered.

Friendly neighbourhood gladiators

noreply@blogger.com (E-commerce Department) — Wed, 24 Nov 2010 07:17:00 +0000

Place: Rajouri Garden - In this posh locality in West Delhi, two neighbouring families hardly miss even half a chance to hurl the choicest and the filthiest of abuses at each other. Apart from common place disputes over car parking slots, they are also at loggerheads as one of them is building another floor on his house. On the surface of it, this should and cannot be the reason for any fight. But the other neighbour claims that while constructing the additional floor, his neighbour is damaging his house.

Take another example. A weekly religious discourse with sound system blaring on full volume is an occasion for another big face-off between residents in a cooperative group housing society in Patparganj and organizers of the soiree.

What then is the remedy if two neighbours fight on one pretext or the other? Sunder Khatri, a Supreme Court advocate, says that the law does not provide any remedy to the aggrieved parties in such disputes. Even if you are aggrieved and take the matter to a court for some kind of remedy, the court may not give you any relief. It only suggests that both parties settle the dispute amicably.

Experts say that unlike the Registrar of Cooperative Societies of Delhi, the Registrar in Mumbai intervenes in the disputes of neighbours of cooperative societies. Zafar Iqbal, a Mumbaikar and expert on land matters, says that neighbours do not fight over petty matters in Mumbai. And even if they have some differences, they do not stoop to the level of their counterparts in Delhi. They apparently take care of their neighbours while keeping a dignified distance from them.

Is it possible that the manner in which you build, demolish, expand, develop or deal with your property would affect the interest of your neighbours? Sunder Khatri is of the view that a sane approach in these matters can save you from bigger trouble. “As the feeling of a neighbourhood is no longer very strong in places like Delhi, it’s better that one settles all their small or serious disputes with neighbours sensibly, without losing temper.

Otherwise, one is sure to invite trouble, big or small.” And if we talk about Delhi, where flaunting money power has become the order of the day, there are many who infringe upon their neighbours’ rights with impunity. And, they rely on ‘influence’ and money power. Most of the times, these things do not work and the properties are locked up in the legal tangles.

There are matters that can be talked over and settled. People assume many things about a neighbour without going into the factual aspects. Complaints are given, notices sent, one rushes to various authorities. It is invariably found that a simple talk or discussion between the two sides would have resulted in an amicable settlement, and saved both parties all the bother of legal wrangles. It is very difficult to have any guidelines to guide people in their attitude towards neighbours.

Neighbours in Delhi and NCR fight pitched battles not only over car parking lots and constructions, but also over a host of other issues. Another source of attrition is when one neighbour violates plans, sanctions, and regulations or permitted use of properties of an apartment block or society.

Another legal eagle says that when an owner develops or otherwise deals with his property, they must think from their neighbours’ point of view also. One must not overlook small things. And, one must never ignore warning signs, legal notices, and communication from the authorities.

‘Public nuisance’ is another common gripe between neighbours. Very often, you will find items in newspapers where neighbours fight after one party refuses to keep music down to a reasonable decibel level.

Another reason is when one puts his property to illegal or immoral use - here, not only will the owner hear from the neighbours, it is certain that he will invite criminal proceedings from law enforcement agencies as well. And converting residential property into commercial use like having small-scale units that pollute the neighbourhood is once again going to invite the wrath of the law.

Compound walls and fences are another source of dispute between neighbours and encroachments can only aggravate matters. These disputes can and should be resolved by having survey, verification of records and title deeds, and most of them can be resolved by having proper talk and legal advice. It is possible that the neighbour has laid large pipes that drain water from a common source. These and other such issues are very difficult to solve except by approaching civic authorities or courts.

It has been seen that problems also arise from trees - from their crossing over into the neighbours’ property! And, also remember that your pet can irritate your neighbours. Ferocious dogs and other ‘cute’ animals can create havoc in your neighbours’ lives. So, you should be very sensitive.

It goes without saying that one should live in a civilized manner so that your neighbours respect you. Talking about his neighbours, a Chinese-origin friend once said there is a saying in his country that they - neighbours - cannot live in a harmonious manner. He made this comment while talking about the strained India-China relations.

It is up to you to prove wrong the Chinese saying or follows the cornerstone of Islam, which instructs its followers to always look after the interests of the neighbours.

Real Estate Outlook for 2011

noreply@blogger.com (E-commerce Department) — Tue, 23 Nov 2010 06:38:00 +0000

The final 2010 edition of Global Market Perspective provides our view on the likely shape of commercial real estate markets across the globe in 2011. Over the next 12 months we expect to see a much greater divergence in real estate activity and performance and our top 10 trends for 2011 are:

1. Global direct commercial real estate investment volumes will rise by 25-35% on 2010 levels. A significant weight of equity capital will target real estate and fresh capital-raising will further enliven the market

2. Banks and servicers will adopt a more aggressive approach to the disposal of non-performing assets, leading to the release of more secondary product

3. The CMBS market in the US will continue to gather pace, but will remain well below pre-Crisis levels

4. Leasing volumes will be at their highest level since the Global Financial Crisis, with corporate occupiers displaying greater confidence to do deals - but they will continue to push for the best possible terms

5. Asia Pacific will lead the upswing in leasing markets, ahead of Europe and North America

6. Prime property will continue to outperform secondary. Expect double-digit capital value growth for trophy assets in many of the world’s high-order business hubs

7. Shortages of prime product in Tier I cities will encourage investors to widen their search to Tier II

8. Latin America will continue to build momentum, attracting strong corporate occupier and investor interest

9. A lack of available Grade A stock in many markets will start to limit relocation options for corporate occupiers

10. The domestic corporate sector will come to the fore in Asia Pacific, particularly in India and China

Sustainability And Indian Real Estate

noreply@blogger.com (E-commerce Department) — Tue, 23 Nov 2010 06:30:00 +0000

Taking action on India’s environmental crisis is no longer an option – it is a necessity. Sustainable real estate presents India with an unique and enormous opportunity to make concrete progress in the country’s effort to improve its environment. There is greater consciousness towards the environmental crisis in India with terms such as sustainable development, corporate social responsibility and triple bottom reporting becoming more common in the real estate industry. Nevertheless, despite the ever rising construction activity, awareness of sustainability in India has significantly lagged behind countries in the West.

Even so, the Indian commercial sector has begun to make conscious efforts towards creating sustainable real estate. With support from the Indian government, a number of construction projects that are currently underway are registered with the Leadership in Energy and Environmental Design (LEED). LEED is soon emerging as the preferred rating system as it is flexible enough to be applied to a diverse variety of markets and also because it enjoys the greatest recognition of the various international rating systems. This recognition is especially important when one considers that a prime motivator for developers to create a certified sustainable building is to differentiate their project from competition.

The government has introduced several schemes to encourage sustainability such as the Indian Renewable Energy Development Agency (IREDA) schemes for subsidising capital for installation of solar water heaters, encouragement of energy audits and management schemes, mandatory use of fly ash-based construction material, groundwater and rain water harvesting and most importantly increased monitoring of air and water pollution.

Sustainable development can be achieved through synergy between developers and occupiers to establish goals, undertake audits and ascertain where savings and improvements can be made. We need to focus on high-impact, low-cost solutions that can be implemented within a realistic timeframe. The importance of educating occupiers on the impact their use of space will have on sustainability outcomes is integral to the success of a sustainability programme.

To properly educate developers, their patterns of behaviour must be changed to accommodate and reinforce any sustainability features that have been implemented in a building. The main objective of any education and communications program should be to encourage developers and occupiers to follow practices such as energy and water conservation, waste management and improve indoor air quality.

Gagan Singh, CEO – Projects and Development Services, Jones Lang LaSalle India

Indiabulls rejects Bharat Mill ‘stop-sale’ request

noreply@blogger.com (E-commerce Department) — Mon, 22 Nov 2010 11:14:00 +0000

INDIABULLS Real Estate has declined to give any commitment to the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) that it will not promote or sell apartments at the proposed residential project on the Bharat Mill property. Indiabulls’ purchase of the mill has been contested by its rival, Lodha Group, two people familiar with the matter said.  The attorneys representing Indiabulls turned down a “request” from the authority to refrain from selling till it disposes of the case, the two people said. Both the companies declined to comment for the story. Lodha Group is contesting that rules for the bid for the mill property which was owned by National Textiles Corporation were not completely disclosed because of which it had lost the bid. The bidders were not told that they could sell proposed buildings even before paying up for the property.  NTC sold the eight-acre Bharat Mill property at Worli, Mumbai, to Indiabulls in August for 1,505 crore since it was the highest bidder. Lodha was the second highest with a bid that was 2 crore less than Indiabulls’. Lodha is seeking a re-bid for the project with a level-playing field and has offered to pay 1,602 crore for the property. Indiabulls, which had last week paid the first installment of 989.5 crore for the purchase of both the Poddar and Bharat Mill properties, had received bookings for over 40 apartments at the proposed residential tower on the Bharat Mill property. The apartments were offered for 18,000 to 23,000 per sq ft, a company official had said earlier.

Statue Circle to be revamped, more green.

noreply@blogger.com (E-commerce Department) — Mon, 22 Nov 2010 11:07:00 +0000

A major hangout for Jaipurites — Statue Circle — is all set for a revamp as possibilities to make it more green, spacious and beautiful are being explored.  The Statue Circle development plan received a major boost as an understanding was reportedly reached to acquire land from the adjoining properties.  The Jaipur Development Authority (JDA) has proposed acquiring a strip of 25-metre around the existing periphery of the circle.  A meeting of the property management and urban development officials were held on Thursday, under chairmanship of urban development minister Shanti Dhariwal, in which the acquisition exercise was approved.  The income-tax office, Birla Auditorium and a few private properties are located around Statue Circle. The affected land owners are expected to be provided compensation in non-monetary terms. The JDA is considering offering additional floor area ratio and other relaxation in compensation for the acquired area.  The private owners have assured unconditional support to the plans. Officials from the income-tax department and Birla Auditorium have no objection, however, a formal approval from senior officials is awaited.  JDA will soon formally start land acquisition and the development of the circle. “The original layout of the circle will not be changed, only the landscaping and plantation will be altered inside the existing circle. The additional land acquired will be used to widen the roads and other development work,” said a senior JDA official.  A prominent landmark, Statue Circle attracts considerable crowds during evening. Its proximity to major commercial institutions and government offices also adds to the number of vehicles passing through the area each day. The Statue Circle Road is estimated to witness a peak hour rush of more than 3,000 vehicles. Thus traffic congestion and parking-related issues have become routine.  Several designs have been previously proposed for development of the circle. A parking project was also proposed at the site. However, the tourism department had reportedly objected to any distortion with the heritage appearance of the circle.  According to the new proposal, the existing circle will only undergo a change in plantation cover. While some of the additional land will be used for road widening, the remaining land will be used of development of green space around the circle. Installation of a marble fountain and other facilities have also been proposed to provide additional attractions for tourists.  LAND TO BE ACQUIRED FROM  • Birla Audtorium  • Income Tax office  • Portion of JMC vacant land  • Hotel Haveli  • Land from two other private bungalows

New property tax scheme under dispute

noreply@blogger.com (E-commerce Department) — Mon, 22 Nov 2010 06:29:00 +0000

Kolkata

With the city poised for a change in the property tax assessment procedure, the civic headquarters at S N Banerjee Road is flooded with queries from citizens over the parameters that have divided Kolkata into seven zones (A to G) based on the level of development that is likely to determine the tax for each locality.

For instance, a host of citizens have questioned KMC’s decision to club Southern Avenue, a posh locality in south Kolkata, with neighbouring localities such as Sadananda Road or Pratapaditya Road under Category C, when the latter are no match for Southern Avenue, if real estate prices are anything to go by.

“How can a posh locality, namely Southern Avenue, be treated on a par with Pratapaditya Road, when residents of the former have better amenities than those residing at the neighbouring areas?” questioned Suman Chatterjee, a resident of Pratapaditya Place. Chatterjee has sent his objection to the KMC authorities. Similar objections have reached the KMC headquarters from residents of Sadananda Road, urging the civic body to either upgrade Southern Avenue to Category B, or place Sadananda Road under Category D.

Similar objections and suggestions are coming from 3,000 property owners across the city after KMC invited suggestions from citizens before it makes amends to its draft proposal. Some, however, have urged KMC to come clear on the parameters that were used to categorise the seven tax zones that civic authorities in other metros made public before introducing the new system.

According to a member of the seven-member municipal valuation committee, that has devised the parameters, necessary changes would be made in the assessment procedure, taking into account the objections and suggestions from citizens.

The huge response has prompted the civic authorities to arrange for “special hearing” sessions for citizens before the change-over to the new assessment method. “We have arranged for such special hearings at each corporation borough from the last week of November. This is the primary level. Later, we plan to arrange for a hearing session at Town Hall, where citizens can air their suggestions or grievances. The interaction will help us make the necessary amendments before we embrace the unit-area based assessment,” a senior official of KMC’s assessment department said.

KMC has sent all the suggestions in this regard to the three-member review committee set up to examine the suggestions and address anomalies. The committee — of which economist Avirup Sarkar is a member — will scan citizens’ feedback before it recommends changes.

The Trinamool Congress-run KMC board is in no hurry to introduce the UAA method for determination of property tax. Though Trinamool chief Mamata Banerjee wants mayor Sovan Chatterjee to adopt the new area-wise method, Chatterjee is waiting for feedback from experts before announcing the switchover.

MMiC Debabrata Majumder, who’s a member of the review committee, however, felt it was too early to introduce the new method. He said that though the city had been divided into seven zones and prices fixed for each zone, the entire exercise might undergo a change after receiving citizens’ feedback.

Compiled by Mr. Ulaganathan

Vasta

noreply@blogger.com (E-commerce Department) — Fri, 19 Nov 2010 05:04:00 +0000

Vastu in many parts of India has been a way of life. It permeates your use of color, the direction of furniture, the direction in which the house should face and a host of other issues. However, it is important to remember that Vastu is the way you live your life rather than something remote to be addressed from time to time.

Raakesh Chawla, our expert on Vastu has been advising individuals and corporate houses on how to enhance the quality of their lives with principles of Vastu.

As a large part of the country prepares to switch from one season to another, our expert takes you through the colour change that you have to effect in your house.

By Raakesh Chawla

Can you feel the slight nip in the air early morning and the cool breeze during late evenings. Its welcome winters and goodbye to summers and also time to redress your home according to winter colours.

Colours have a powerful influence on the human mind. Their use is inexpensive and easy. They can make or break the energy. Depending on their use, they make you warm, friendly, calm or irritable. You should choose a colour scheme that appeals to you and which encourages optimism and positivity in life.

When decorating the interiors of your home one should balance colours.

Delicate hues and tones should be balanced to create a soothing haven in your bedroom which is a place of rest and sleep. The colour scheme should produce a calming effect. Don’t forget to place your bed towards the south or east wall and avoid keeping the dressing table in front of it.

Colours should be bolder in the living room which is a place for entertaining guests. One could use bold prints, warm colours and large objects, which would stand out, and yet not go overboard or make the place look gaudy. The idea is to make the room warm and inviting. Palms and money plants or aquarium and water fountain along the north wall would add to the vibrancy of the living room.

A baby’s room should have bright colours, as that is what a baby sees and responds to. A baby cannot differentiate one pale pastel from the other. One could decorate the child’s room in bright pinks, yellows, greens or blues. However too many gizmos in the room is highly avoidable as this will take away the tranquility and make the child feel restless as he grows. For the school going kid, the study should face east. All books should be neatly tucked inside drawers rather than the study table burdened with the load of books above the kid’s head literally.

A small room should be decorated in light soft colours to create an illusion of space. Large rooms can have warm colours. Homes in plains or hot areas should be also be painted and decorated in light colours as this keeps the house cool. Warm colours attract heat; therefore, houses in hills can use lots of red.

It is ideal to paint the ceiling pale blue rendering a feeling of space. Any room getting lots of sunlight should be painted in cool tones of green and blue. A room which is cold and receives little sun, should have warm tones of yellow, orange, red etc.

The colours for principal direction along solar axis depict the rising sun (yellow) and setting sun (blue), where as along the magnetic axis reflects the energies of peace (green) and action (red). The cardinal direction are a derivative there of.

Indo-US Green Partnership

noreply@blogger.com (E-commerce Department) — Thu, 18 Nov 2010 10:25:00 +0000

The US and India took a concrete step to actualise the Green Partnership that they agreed to nearly a year ago. On Monday, US President Barack Obama and Prime Minister Manmohan Singh announced the setting up of Joint Clean Energy Research and Development Centre.

“We agreed to deepen our cooperation and pursuit of clean energy technologies, and this includes the creation of a new clean energy research centre here in India and continuing our joint research into solar, biofuels, shale gas and building efficiency,” President Obama said in his opening statement at the joint press conference. The proposed centre is part of the Partnership to Advance Clean Energy (PACE), which forms the core of the “green partnership”. Funding for the centre is expected from national budgets and the private sector. Each government proposes to commit $25 million over the next five years. Other partners in the centre would be expected to make equal contribution. The aim is to drive collaboration between government laboratories, universities, and businesses. Stressing that the partnership in clean energy would benefit both countries, President Obama said, “we can pursue joint research and development to create green jobs; give Indians more access to cleaner, affordable energy; meet the commitments we made at Copenhagen; and show the possibilities of low-carbon growth.” The two countries have also agreed to “new” partnerships, including forestry and sustainable development of land to “help meet the commitments we made at Copenhagen to combat climate change”. Forestry is an important prong of India’s efforts to deal with climate change, given the carbon sink potential of forests. India has formulated a Green India mission as part of its National Action Plan for Climate Change.

TN Board creating problems in redevelopment

noreply@blogger.com (E-commerce Department) — Thu, 18 Nov 2010 09:52:00 +0000

Chennai

The trend of re-developing old TNHB apartments is growing but the exercise is riddled with hurdles, mostly caused by the original promoter — the Tamil Nadu Housing Board.

The TNHB has been accused of being reluctant to grant owners a no-objection certificate for redevelopment. Till 2000, it issued sale deeds without properly conveying the rights over the undivided share of land (UDS) to owners. In effect, the buyers own only the footprint of the complexes and have no ownership rights over the thoroughfare, car park and surrounding play area. The Board never even obtained a patta from revenue department while originally developing the land. So, now the owners of TNHB flats don’t own a patta, which is necessary for redevelopment.

For re-development, the CMDA insists on owners/builders obtaining orientation sketch and NOC from the TNHB and patta from tehsildar. The applicant, who has to produce orientation sketch before revenue officials for patta, first pays 10% of the land’s guideline value (running into several lakhs in most cases) for the sketch and NOC. “The Board recovered the entire cost of the project — land cost, development charges, cost of construction and overheads — from the buyers at the time of sale, so there is no justification in demanding more money from the owners. The CMDA should approve projects without insisting on an NOC,” said P V Shanmugam, MD, Kgeyes, who has re-developed 12 TNHB projects.

The TNHB in the past had filled water bodies and promoted projects over them without reclassifying it as residential land. “It is now left to the apartment owners to get it reclassified,” said Shanmugam.

S Sankararaman, whose apartment in Tiruvanmiyur is being re-developed, says the project, started in May 2008, got delayed because of the TNHB and CMDA delaying NOC and approval. “I am very happy about the new building. But I had to wait for a long time,” he said.

D P Yadav, MD of TNHB, said: “It is the Board’s decision to insist on NOC and collect money in cases where the UDS is not conveyed.” The same Board had decided in August 2009 to do away with issuing NOC for re-development of its apartment complexes. The decision was retracted recently. V Jaggannathan, MD of Ramaniyam, said, “Going by the Housing Board’s logic, if footprints of the apartment complexes alone have been sold to owners, nobody can enter their house without trespassing Board’s land. We have no other option than approaching the court for remedy,” he added.

Check List

All owners should have obtained sale deeds from TNHB Owners should jointly apply for the orientation sketch from the TNHB Owners should jointly apply for patta at taluk office Negotiate collectively with builders who have a good track record Ask the builder to fix the selling price for his share, compare it with other nearby projects As the selling price goes up, land owners’ share also goes up Make the builder specify time required for completing the project

Elevated Roads driving Real Estate

noreply@blogger.com (E-commerce Department) — Thu, 18 Nov 2010 09:43:00 +0000

That improved infrastructure is often the harbinger of development is eloquently visible in two such road projects in the city. Two major elevated road projects have also created new residential neighbourhoods in the suburbs. In Bangalore south, the 10 km elevated Hosur Road expressway connecting Central Silk Board Junction to Electronics City has reduced travel time to just 10 minutes. In Bangalore north, the elevated Tumkur Road project connecting Yeshwantpur to Nelamangala which will soon be operational from this month will cut down commuting time to a mere 20 minutes.

Elevated Hosur Road to Electronics City

Since being operational from January 2010, the 10 km four-lane elevated road from Silk Board Junction to Electronics City in south Bangalore has helped bridge the tedious commute especially for IT employees, bringing down the travel time from 30 minutes along the ground level road to 10 minutes on the elevated stretch.

According to a senior National Highways Authority of India (NHAI) official, this premier road project has decongested the route along the Hosur Road which is the entry and exit point to Tamil Nadu. Heavy traffic which was a bane for commuters now flows freely on the ground level sixlane road.

To cater to the burgeoning need of the IT industry, the Master Plan 2015 has expanded the hi-tech corridor to include south, east and west parts of Bangalore. In south Bangalore, the hi-tech zone will now include the Outer Ring Road (ORR), Hosur Road and Electronic City as prominent hubs for both the IT and ITeS industries.

Realty potential

The signal-free expressway has fuelled realty developments flanking the route to Electronics City which is emerging as a premium office space with a host of software parks and biotechnology units setting up their centres here. Two biotechnology units, one at Electronic City and the other at Anekal, are coming up and are slated to create employment opportunities to residents around here, hence also spurring residential development.

Several villa layouts, row houses, or three-four bedroom apartments are coming up in Anekal, Bommasandra and around Electronics City, predominantly targeted at the IT workforce. Four major BDA layouts - KHB Suryanagar layout, Devraj Urs Layout, Nijalingappa Layout and the K C Reddy Layout - have been planned here.

Elevated Tumkur Road and Nelamangala

The six-lane Bangalore-Nelamangala highway stretch with a 4.5 km elevated portion will enhance connectivity to Tumkur and to the international airport through NH 207. With the completion of this Tumkur Road project, motorists can now drive between Nelamangala and Goreguntepalya (Outer Ring Road junction) in 15 minutes as against over an hour previously.

“Tumkur Road is NH 4 and a vital entry point from south and north Karnataka, Maharashtra and Goa into Bangalore and 80 percent of inbound traffic to the city comes from this route,” says a senior official of NHAI. “It is one of the busiest highways in terms of traffic and transports 1.2 lakh passenger car units (PCU) daily,” he adds.

Primarily a warehousing and transport area, Nelamangala has come into its own gradually with the city’s exponential growth. It is a taluk and according to the Taluk Industrial Development Plan (TIDP) of the Department of Industries and Commerce, it has potential for the promotion of around 900 units in tiny and small scale industries (SSI) sector, including services, besides 122 large and medium scale industrial units. Such developments are expected to result in creating direct employment for about 60,000 persons and indirect employment for about 25,000. Somapura nearby is emerging as a prime automotive spare parts manufacturing hub.

The improved Tumkur Road is scheduled for inauguration in the third week of November according to the official. The toll fee is minimal at Rs 15 per car for oneway and around Rs 25 for two-way entry. The cost of construction has been pegged at approximately Rs 719 crores.

Realty potential

Tumkur Road was always considered an industrial belt due to the factories and godowns in Peenya and Nelamangala. The completion of this road project is gradually spurring warehousing activity in the surrounding areas of Jalahalli, Dasarahalli, Yeshwantpur, Nagasandra, Madanayakahalli, as well as Peenya and Nelamangala. “This kind of expansion will generate employment for thousands of people in the warehousing and logistics sector. With so many employed in the industries and warehouses looking for accommodation close to their workplace, there is tremendous potential for budget housing along Tumkur Road,” says Zahed Mahmood, Director, Silverline Realty.

A few developers have launched their residential projects along this route, and social infrastructure such as hospitals, residential schools, colleges, showrooms and hotels are emerging on both sides of the highway.

Keep these in mind before buying property

noreply@blogger.com (E-commerce Department) — Wed, 17 Nov 2010 12:37:00 +0000

Buying a property is perhaps the single biggest investment made by a person during his lifetime. Therefore, it is a requisite to be extra cautious while on a lookout for purchasing property in India.

The basic thing to keep in mind while investing in real estate is the location. It is the most important aspect in the selection of property as the price is dependant on this. After zeroing in on the desired property it is advisable that the potential buyer studies the market for the market trends about prevalent rates of property in the vicinity and the last known transactions.

A budget should be set for the required property type according to the market standards, as each property dealer has his own set rates and one needs to bargain and bring him down to his standard rates.

The second priority is the builder reputation. If a buyer goes to a good builder, there is no need to verify things beyond a point because a good builder generally takes care of things like permission required for the purchase of the property. At the same time, there is no harm in conducting preliminary inquiries and having a run through with the lawyer. Do not buy a property if the title of property is not clear or marketable as it will cause problem in future and financial institutes refuse to finance on such properties.

The third thing to consider is the list of amenities and facilities associated with the property. Proximity to transport hubs, schools, hospitals, markets, central business districts, entertainment centres etc needs to be verified before finalizing the property. Further, it is also important to assess the potential resale value or the potential rental income of the property.

There are certain points which need to be kept in mind when a buyer is buying a project which is under construction. One should always ask for the allotment letter and the development agreement. The allotment letter contains details regarding the agreed price, payment and construction schedule, house plans, delivery date and builder’s liability in case of late completion or problems after possession. It is issued to the buyer upon payment of the 15% of the property value to the developer.

The development agreement is inked between the builder and the landowner and contains details regarding the terms and conditions on which the landowner has permitted development of his property.

In case of constructed properties, one should ensure that the seller has the title and possession of the property as well as the right to transfer the property. A check needs to be done if the building adheres to relevant municipal/planning authority requirements. Also a check needs to be done on whether dues such as property tax, society, water and electricity bills, etc. have been paid in full or not.

Finally, when the house is handed over to the buyer, the builder needs to give a Completion Certificate. A completion certificate is issued by municipal authorities who verify that the building complies with the approved plan. This is required for registration and other government formalities for the house.

House hunting? Here is the check list

noreply@blogger.com (E-commerce Department) — Wed, 17 Nov 2010 09:37:00 +0000

Come May, June, and the great movement begins, As the academic year draws to a close, in big cities people look for moving into new houses. Those who have been staying in rented accommodaton, are always on the look out for a bigger, better accommodation. It is also interesting to see many houses suddenly displaying `To let” boards.

A fabulous new job and the promise of a bright career are also good incentives for those working in the private sector to move cities. But when you land in a new city, you don’t find a decent place to live, and start wondering if you have made the right decision. Sometimes, one feels homesick and want to take the next flight home.

House-hunting is not that easy. Shady brokers, demanding landlords and badly maintained buildings are all part of the ordeal. But there are ways to get over them and land in a house of your choice and dreams.

Smart search

If it’s your first time in the city, it’s best to look for a place close to where you work/ study. You don’t want to have trouble finding your way back home or get lost in the maze of traffic for hours. Either friends are colleagues can be of help finding accommodation or certain websites like Sulekha can also help.

Then there are inevitable brokers, both organized and unorganized. Yes, they do charge quite a bit (one month’s rent usually) but they have a nexus which means you find a place faster and they seem to have the keys to all the good places. Definitely, one can avoid them but you will have to do a lot of running around to do and waste precious time and resources.

Home and away

Whatever method you use to scout, make sure you have a basic idea of the home you want. It helps narrow down your options.

It’s one thing to really like a place but it’s quite another to be able to afford it. Sometimes, the rent isn’t exorbitant, the deposit is. The trick is to negotiate a deal that suits both parties. One possibility is that if someone does not want to pay a huge deposit, some owners can agree if the rent is hiked by a thousand. Then they would be ready to reduce the deposit by even half. IT all depends on the negotiator’s skill.

Similarly, you could also negotiate for a lower rent with a higher deposit. After all, the deposit will come back to you at the end of the contract.

PG checklist

If one is opting for a PG accommodation, you will need basic furnishings , a self-contained bathroom, a gas stove/ hot plate/ refrigerator access, 24-hour water supply + geyser , Internet connection, a separate entrance, Liberal timings, Breakfast + dinner provided (though not necessary) are things to look for.

When you live as a paying guest, sharing accommodation with others, make sure to find a place that charges a fixed rent per person. This way if one person chooses to leave mid way; you and the others left won’t have to bear the brunt of a higher rent.

Rent checklist

Semi/ fully-furnished apartment (It doesn’t make sense to furnish an apartment if you are going to move eventually)
4-hour water supply + geyser
Gas connection, gas stove + refrigerator
Parking facilites
24-hour security

Once you have found the right apartment, make sure to visit it a couple of times before fnalising the deal. If you notice anything broken/ non-functional, ask the owner to have it fixed before moving in so that there is no danger of them refusing to pay for the repairs. Also, go through the agreement properly after it is prepared to make sure that there are no terms you don’t agree to. There are other things to keep in mind:

Does the property seem secure? Are there security amenities and staff?
Are your preferred amenities and transport links within easy reach?
Are there any potential nuisances?
What are the neighbours like?
Do repairs need to be carried out? (electrical points, geyser, gas stove etc)
What other bills are there and what are you liable to pay for? (Check and note all meter readings on the day you move in.)

Shifting

Shifting involves a lot of work from sorting, arranging , packing and unpacking. The process can take days and disturb your daily routine.

Here are a few tips to make it easy:

To start with, collect the basic packing materials well in advance. Make sure that you have plenty of wrapping paper, so save old newspapers. Also you will need many cartons in assorted sizes. All boxes should be in good condition and must have covers on them so that they can be closed and sealed.

Use plastic sealing tape rolls to reseal the cartoons and use whenever required. Get a permanent black marker for your packed cartons to label the contents, which will make it easy while unpacking.

Pack on a room-by-room basis - don’t pack items from the living room in cartons with articles from the kitchen. This will save much confusion later when it’s time to unpack. Bulkier but not-so-heavy articles, such as pots and pans, linen, small kitchen appliances would go in larger boxes. Very bulky lightweight articles such as blankets, pillows, stuffed toys, large lamp-shades, shoes, etc, would go into largest boxes.

Keep a record of the boxes and number each box. Be specific in your descriptions. Cut down cooking utensils and food supplies to bare essentials. Wastebaskets can also be packed while you switch to using bags. It’s best to pack your small kitchen appliances together in boxes rather than with other goods that are bulky or breakable!

Is your office safe?

noreply@blogger.com (E-commerce Department) — Wed, 17 Nov 2010 07:48:00 +0000

The recent fire tragedy in Bangalore’s Carlton Towers claimed nine lives and left 60 injured. In most high rise office spaces, it has increasingly been observed that fire safety has a low priority. Future office spaces too will be taller but are they really fire safe? Do we really take measures against fire protection while building our buildings?

Even though fire is one of the most common disasters to strike corporate offices, it is also the most preventable. Most companies think they are well protected, and most believe that fire could never happen to them. Yet, 70 per cent of businesses involved in a major fire either do not reopen or fail. Fires often start in unlikely places because those are the areas where fire safety has been overlooked.

Innovative building solutions in interior construction can go a long way in aiding passive fire protection. Fire protection is achieved through a combination of active and passive fire

protection. Active fire protection operates at the shortest possible time after detection of a fire and is often given good importance in building design. It includes things like smoke detection and alarm systems, fire extinguishers and sprinklers etc.

Passive fire protection is the art of compartmentalization of the fire through the use of walls, floors, ceilings to limit the spread of fire and ensure evacuation of people and protect data for long enough for it to be rescued or fire to be put off. If a simple concept such as this had been implemented at Carlton Towers many lives could have been saved. Recognizing the perils of fire and the consequent importance of using fire resistant materials to minimize damage, the National Building Code (NBC) regulations prescribe stringent fire safety protection norms.

Role of drywells

Gypsum products have been used over centuries in the construction space and are the material of choice because of gypsum’s unique properties. Gypsum is a light weight material which is formed as the result of evaporating sea water in massive prehistoric basins.

Gypsum is used as Plasterboard to create false ceilings and high performance drywalls and partitions. Gypsum based products and systems (Drywalls) provide excellent passive fire protection solutions ranging from 1 hour to 4 hours taking care of all 3 elements of fire protection - stability, integrity and insulation requirements of the system in equal measure.

Gypsum contains approximately 21% water content and about 79 % calcium sulphate which is inert below a temperature of 120 degrees Celsius. The bound crystalline moisture in gypsum content plays a significant role in excellent fire resistance properties which makes gypsum a material of limited combustibility.

Over 80% of all interior construction in the developed markets across all applications is with Drywalls. Gyproc Fire Protection solutions are achieved through a combination of Gyproc Fireline gypsum plasterboard and Gypsteel ULTRA metal framing systems. The Gyproc Fireline plasterboard is made of a pink paper liner wrapped around an inner core made primarily from gypsum plaster.

Three key factors influence the performance of Gyproc Fireline plasterboards:

The quantity of gypsum - i.e. board density
Board shrinkage - preventing gaps opening between boards and board pulling away from fixings
Board integrity - preventing boards from falling. The inclusion of glass fibres and shrinkage inhibitors of fire rated products give a much higher fire protection by limiting the board shrinkage and improving the integrity

Well known brands such as Saint-Gobain Gyproc have a range of drywall solutions which are very popularly used by India’s leading banks, offices, data centre providers etc. to provide 1- 4 hour fire protection for its walls. Saint-Gobain Gyproc India Ltd. is part of the 43.8 billion Saint-Gobain Group and provides innovative building solutions and state of the art products backed by world class technical and service support.

Mumbai’s second airport to be country’s first ‘green’ one

noreply@blogger.com (E-commerce Department) — Tue, 16 Nov 2010 11:57:00 +0000

Incorporating the Union environment ministry’s suggestions in Mumbai’s proposed second airport plan may have marginally reduced its annual passenger handling capacity, but the outline of the project submitted by the state to the Centre on Wednesday suggests it may be the ‘greenest’ airport in the country with the best security and passenger transport facilities. Metro and suburban rail networks, new roads and bus routes will connect the airport to Mumbai and rest of Navi Mumbai. The Centre’s environmental clearance to the project is now reportedly a formality, with Cidco accepting most conditions.

At a meeting held in New Delhi on Wednesday attended by experts of Union ministry of environment and forest (MoEF) and Cidco officials, the latter promised to build new wide roads, with a Metro rail connecting the existing and new airports, besides taking one of the metro routes up to Ferry Wharf in Mumbai across the harbour. Besides, there will be dedicated bus and rail routes linking the airport. Cidco has also promised to build innovative boundary walls to the airport which will act as noise barriers, on recommendations made by the environment experts. For the first time in the country, the rock strata below the airport will comprise engineering material that will reduce the noise levels to permissible limits. The experts had suggested Cidco offer proper Metro, suburban train and bus connectivity to the airport to reduce the movement of private vehicles towards the airport area and thus avoid air and noise pollution due to vehicles.

The changed specifications of the new airport have brought down airport capacity from around 61 mppa (million passengers per annum) to 59 mppa. Sources in the environment ministry said air travel demand, accessibility, availability of physical and social infrastructure and airport operational feasibility at the site won the new airport for Navi Mumbai against the site in Kalyan. The state team which drafted the plan for the ‘green’ airport was guided by the principal secretary in the urban development department T C Benjamin, and Cidco managing director Tanaji Satre, besides MoEF experts.

The new airport plan will ensure that mangroves on a mere 100 hectares will be uprooted against the earlier projected area of over 260 hectares. Cidco has also decided to evolve a separate mechanism that will prevent any bid by squatters to build illegal hutments around the airport area. The environmentally sensitive area will be monitored and structures which come up in the airport and nearby SEZ zones will be sound-proof. Cidco has already moved the airport 300 metres towards the south to avoid damage to the Gadhi river and a major portion of Waghivali village.

A new water channel connecting the Gadhi and the mouth of Ulve through Waghivali village will be built to take care of the water runoff from airport area during flooding and to keep the natural course of Gadhi and creek undisturbed. “The flow and depth of the Ulve river will be maintained while diverting it besides maintaining its capacity to absorb tidal flow in extreme weather conditions,” sources said. “Construction of only power saving buildings, avoiding damage to distant hillocks other than which have already been quarried and fall in the airport zone and taking care of bird species are other conditions we have complied with,” said a state official. Interestingly a BNHS report pointed out spelling mistakes in botanical names of the bird species, flora and fauna in Cidco’s reports, which it promised to correct.

After MoEF’s eco-clearance a permission from the high court will be sought to cut mangroves for airport construction and it will be a minimum nine months before actual construction begins. Connectivity

Cidco will provide Metro connectivity between Panvel and Santa Cruz via Mankhurd and the new airport and will add new roads and bridges

Dedicated bus service and a suburban rail network will also be set up to reduce air and noise pollution

Green Measures

Noise-absorbing boundary walls and signages to identify green belts were declared mandatory. Rock strata of the new airport will have engineering material to reduce noise levels to permissible limits. All structures will be sound-proof

A system to monitor pollution in creeks and channels will be evolved

Structures in the airport area will be energy efficient buildings saving up to 20% of power

Mangroves

The loss of mangroves will be only 100 hectares now as against earlier 260 hectares. There will be mangrove forests with irrigation canals on Waghivali island

Rivers

A new channel connecting Gadhi river and the mouth of Ulve will be built to take care of water runoff from the airport area during flooding and to keep the natural course of Gadhi river and Panvel creek undisturbed

A 100-metre wide riverfront on the west side of Gadhi along the boundary of the airport will be developed on the lines of the Sabarmati riverfront, with roads, pathways, promenade and garden

Ulve river’s flow and depth and its capacity to absorb tidal flow in extreme weather conditions will be maintained

Regular monitoring of quantity and quality of Ulve’s channel will be carried out besides de-silting it before every monsoon Final Measures | After MoEF’s eco-clearance, permission from the high court will be sought to cut mangroves for the airport’s construction and the process to appoint the developer will start

Diploma in Real Estate Marketing launched by NIREM

noreply@blogger.com (E-commerce Department) — Tue, 16 Nov 2010 11:48:00 +0000

If you want to position yourself for great opportunities in Real Estate in India and beyond, This course is for you…. National Institute of Real Estate Management (IDS NIREM), www.nirem.org, has launched a Diploma program in Real Estate Marketing. The course offers a step by step learning curve to understand the real estate business with particular emphasis on property sales, marketing and transactions.

Course objective is to provide comprehensive knowledge and develop practical property business skills that traditionally take years to acquire. With this knowledge and practical business skills, participants would be able to manage complex property transactions with confidence and success.

Divided into three stages, this three-month program is offered through a combination of class room teaching and practical training with real estate companies. The biggest advantage of this course is that there’s no need to leave job, as the flexible class-timings allow participants to study as well as work.

The program is targeted at real estate professionals as well as those who want to start their career in real estate. This course is also ideal for people planning to start their own real estate ventures. Candidates must have passed class twelfth in order to take admission in this course. Admission shall be offered on first-come-first-serve basis, starting from 25th November, 2010. Course is scheduled to start from 20th January, 2011. For further details, mail NIREM

Bangalore thirst most preferred investment desitnation

noreply@blogger.com (E-commerce Department) — Tue, 16 Nov 2010 05:53:00 +0000

In order to gauge the real estate trends that will be prevalent this year, Makaan.com conducted a nationwide survey, calling it “Realty Trends 2010” for Metros and tier II cities of India. As per the survey findings, Bangalore -- after Delhi and Mumbai--- is considered as the third most preferred real estate investment destination in 2010, nationally. Almost 11% of the national property seekers want to own a house in the city.

Delhi tops the charts with 34% buyers wanting to buy a house in the capital.
Mumbai follows the capital with 28% interested buyers nationally.
Hyderabad along with Bangalore has also attracted 11% property seekers each. The survey also reveals that the realty sector in 2010 is going to be driven by end user. Due to recession and fluctuating property prices, property seekers were shying away from making a property purchase last year, but with improving economy and slightly stable property prices; seekers are ready to jump into the market this year.

It’s interesting to know that most of the buyers, who are interested to buy a house, this year, want it for self-consumption; this confirms the fact that speculators, which drove the real estate boom in 2004- 07, are more or less out of the market. And, even the ones who are willing to invest at this time are the longterm investors.

67% of the national property seekers want to buy a house for selfconsumption.
Only 23% are looking for property options from a long-term investment perspective.
Short-term investors have only 10% takers.

When it comes to Bangalore, the trend is in line with the national findings, 64% of the property seekers from the city want to buy a house for self-consumption. On the other hand 26% buyers from Bangalore, who want to buy a house this year, are only looking it from long-term perspective. Only 10% survey takers from Bangalore want to invest for short term.

With 34% interested buyers, majority of property seekers from the city want to own a house in Bangalore South.
Bangalore North comes next in demand with 24% property seekers looking for options in that area.
21% survey takers prefer Bangalore Central for buying a house in 2010.
Bangalore east and west have attracted 14% and 1% interested buyers.

Commenting on the survey findings, Mr Aditya Verma , Business Head and Vice President, makaan.com says, “With economies stabilizing around the globe, the domestic market has also started showing signs of recovery and the buzz around property has started again. However, this time the buyer is more discerning and scrutinizing, while investing their money in projects. Our recent survey ‘Realty trends 2010’ is an effort to find out the psyche of the current property seekers and help them in making and informed property buying decision”.

The study was conducted on the portal between15th February 2010 – 5th March 2010. Majority of respondents who participated in the survey belong to the age group of 26 - 35 years. Conducted online, the survey saw participation from over 4,800 property seekers.

Source: www.makaan.com\survey

Prime Commercial Properties in Kolkata Metropolitan Area

noreply@blogger.com (E-commerce Department) — Tue, 16 Nov 2010 05:41:00 +0000

At Shakespeare Sarani (Theatre Road) Kolkata, in a Prestigious Classic Building s 1600 to 20,000 or more Sq.Ft of Ready Prime (Optional A.C/Furnished) with ample Car Parking, Fire Alarm, Full Power Back-Up and other State of Art Facilities are presently available on Best Deal Rates.

At Camac Street, Little Russell Street, Lower Range, Park Street & surrounding Prestigious South-Central Kolkata Locations 5000 Sq.Ft and more or less Prime Commercial Office s& Showroom s with option of ample Car Parking, Fire Alarm, Full Power Back-Up and other State of Art Facilities are presently available on Best Deal Term s & Rate s on Rent or Sale.

At Salt lake, Sector – 5 & New Town Large & Very Large I T Space s & Commercial Offices & other spaces available on STP, IT Parks & other Prime Prestigious Commercial Addresses on Best Deal Term s & Rates on Rent or Sale. At Ultadanga & PhulBagan near VIP Road & E M

Bypass ‘X’ing 2000 Sq.Ft more or less Commercial Space s available for Educational Training Institute , Bank & other Financial services or

other Office purpose with ample Car Parking, Fire Alarm, Full Power Back-Up and other State of Art Facilities are presently available on

Best Deal Term s & Rate s on Rent or Sale.

At Kankurgachi near VIP Rd. ‘X’ing & Mancktala Main Road Prestigious Premium Showroom s and Shop floor space s of 1000 to 5000 Sq.Ft with option of ample Car Parking, Fire Alarm, Full Power Back-Up and other State of Art Facilities are presently available on Best Deal Term s & Rate s on Rent or Sale. Excellent Space for Departmental Store, Garment, Furniture, Electronics & other hi-class items.

At VIP Road near it’s best Business Destination Area, around 12500 Sq.Ft Commercial Space available on Rent prefarebly for Educational / Computer Training Institute, Coaching Centre & other Office purpose. At VIP Road, New Town, E M Bypass, Salt lake area Stall, Shops, Showrooms, Restaurant and Commercial Spaces, Large & Small Office Space s in Shopping Malls & in Prestigious Commercial Buildings available on best deal s & terms.

At Posh Location s at Ballygange & VIP Road Small Boutique Hotel with Boarder & Business Rooms Restaurant, Lounge & L.ger Bar other facilities’ Available on best deal. On E M Bypass, Raichak near Haldia & other Prime Tourist & Business locations of Bengal Star & other category Hotel s available on best terms. Around E M Bypass, CIT Road, VIP Road, Salt Lake, New Town, LansDown and other area s Prime Utility Stand Alone Building s & other Small, Moderate & Large Commercial Spaces and other Office Spaces Ready or Made to Order is available on best terms.

At Dalhousie, BBD Bag, Bara Bazaar & surrounding area s 300 Sq.Ft and Onward Commercial Spaces Available for Office, Warehouse & other purposes available with best terms & deals. At Kolkata Surroundings & Suburban areas namely Khardah, Belghoria, Behala Thakupukur, Barasat and other Developing Business locations numerals Commercial Spaces & Properties available with best terms & deals.

Please Contact: ASM Commercial, REBI Kolkata. Lake District.

74/1 Narkeldanga Main Road. Kolkata – 54 .

Ph : 033 4000 2801/ 02,

Mobile : +91 90070 04092 (Mr. Dhiman Chakroborty)

Selling your property? Get the papers in order

noreply@blogger.com (E-commerce Department) — Mon, 15 Nov 2010 07:55:00 +0000

Planning to sell your old house to buy a new one? Undoubtedly, residential properties sell like hot bread in metros like Delhi, Mumbai or Chennai, or even in tier II towns like Pune, Coimbatore or Chandigarh. But you must keep in mind some of the important issues .

What are the essential documents you need to sell the house?
The documents required to sell a residential property are the housing society share certificate and the sale/purchase deed. Sale deed will confirm if the land is in the name of the seller and only he/she has the full right to sell the land. You need a copy of previous deeds, if required, to confirm the authenticity of the deal and the property. You also need original copies of stamp duty and registered house documents. The seller will also require an NOC from the housing society. In case of a joint ownership, the owner/owners have to submit documented consent. Home buyers insist on these documents if they are opting for a housing loan.

How should you file for missing documents?
Both the Malviyas as well as the Avasthys didn’t have a problem with missing documents as they had invested in new constructions. But, often old houses, which are 30-40 year old constructions, may not have proper registration. In such cases, the owner should ideally pay off the outstanding stamp duty and file for a registration. In the case of a missing share certificate, the intending seller should request the housing society to issue a duplicate copy. If the sale/purchase deed and/or chain of agreements/deeds are misplaced, an indemnity bond needs to be furnished by the seller, along with a confirmation letter from the housing society.

Is your property mortgaged with the bank?
You cannot sell the property if you are still servicing the loan. Remember that you can’t sell a mortgaged house if the buyer insists on accurate paperwork to apply for a loan.

How does one get an objective evaluation of the house?
The value of a property is decided by various factors, including the cost of similar properties in the same location, the view of the apartment, the available amenities in the building and the overall market trends in terms of appreciation and depreciation. Apart from checking out with your neighbours, get the property evaluated by 2-3 brokers to get a realistic quote.

What are the other clearances before putting the house on sale?
Apart from the title clearance and NOC from the society, the precise details pertaining to the age of the building, the floor plan, the carpet and built-up area, the conveyance of the society, car parking status, land title (free hold/lease hold/collectors land) and transfer charges of the building and the apartment need to be attended to.

What are the tax implications?
The capital gain would be exempt from tax under Section 54 and Section 54F if the sale proceeds are invested in a residential house and if you do not own more than one residential house at the time of purchase of such a house. But you have to purchase the new house within a year before the sale. Otherwise, this capital gain or net consideration is required to be deposited in a separate account before you file the return. You can reinvest only in a residential property. This doesn’t include a commercial property or vacant plot of land. Similarly, short-term capital gains enjoy no exemption.

The house you are planning to sell would be classified as short-term capital asset as the holding period is less than three years. There is no exemption available on reinvestment, be it a new house or capital gains tax saving bonds.