Designing homes for senior citizens involves careful planning and attention to detail in order to foster their requirements and make homes livable, says Suchita Patil
Most housing societies have a large number of senior citizens, and there is now a growing awareness that they need spaces that are adapted to their needs. Senior citizens have a number of requirements and a normal house or society complex may not be well equipped with the right facilities. Architects and designers point out the importance of building senior citizen friendly spaces, with facilities that will help them lead a healthy, pleasant and a hassle freelife.
M H Dalal, CMD, M H Dalal Architects Pvt Ltd, says, “The concept and ethos while designing a home for senior citizen should be such that it allows them to live independently with dignity. There are certain parameters, which need to be considered while designing. A few of the physical parameters are that all edges and corners must be rounded as far as possible, the width of all doors should be adequate enough to make them wheelchair accessible, there should be a sliding bathroom door to facilitate easy movement, wide passageways, grip rails at strategic locations, no level difference in flooring, anti skid tiles, and switches placed at manageable levels, among other things. Besides, the complex should also have good amenities and infrastructure that are unique to such a complex, such as a library, small canteen, and physiotherapy clinic instead of a gym, multi-purpose hall, advanced security systems like video door phones, panic buttons, and pendant buttons to help in case of emergency.”
Niteen Parulekar, design principal, Niteen Parulekar Architects Pvt Ltd, says, “With age, their bones become fragile and eyesight weakens. So stress should be given on maximum use of natural lights with cross-ventilation, dimmable lights with light switches located in accessible locations along with use of technology like video-door phones, alarm system. An old age home must have easy access to hotline services like hospitals, ambulance in case of emergency.”
Citing the demand, many developers too are showing interest and coming with senior citizen friendly facilities in their projects. R Karthik, senior vice-president marketing, Lodha Group, says, “There is a definite need for designing homes for senior citizens. With regards to safety, there are motion sensors for automatic lighting in bathrooms along with medical facilities to take care of any emergency. For example, we have signed with the Hinduja Hospital to set up a medical facility at our township at Dombivali for our projects Casa Bella and Casa Bella Gold.”
Kaizad Hateria, GM, Corporate customer relations and sales, Rustomjee, says, “ Townships or gated communities are the best for designing homes for senior citizen homes. Providing security through video conferencing, guard on call through videophones, grills at the door, through checks in gated communities while entry and exit of a person in the township will make it more user friendly. At our project Rustomjee Urbania, we have even consulted experts for fixing lampposts such that the height and distance between the two lampposts, avoids the falling of shadows directly on the ground, which will be very helpful for them.”
Manju Yagnik, vice-chairperson, Nahar Group, points out that the concept is still market driven. The demand exists but both senior citizens and developers are yet to wake up towards this need. She says, “The facilities enabling wheelchair entry into the lobbies, anti-skid tiles, accessible light points and bells in the house and providing at least one stretcherlift in the normal projects can really help senior citizens in their day-today life. Considering the security, avoiding multiple entries, video door phones along with providing easy shopping, medical and recreation facilities within their complex are necessary.”
Talking about the demand and response from the consumers, M H Dalal says, “Senior residences across the world are of different types including adult living, enriched living, assisted living and specialty care. In India, the demand is high for assisted living space, but at the moment, we mainly have the adult living module and we are trying to convince developers to develop some part of their huge projects in the form of an ‘oasis’ for senior citizens, and have at least 5% of their living spaces designed that are conducive to senior citizen homes. Golden Nest in Pune by Vascon Engineers has been developed and work is going on another project in Bhopal by Aakriti Dwellings Pvt Ltd. The developers in Mumbai too are actively discussing such projects. He strongly feels that there exists a vibrant demand and that entrepreneurs should take development and management of such homes as a business module as is prevailing in other parts of the developed world.”
With the trend moving towards nuclear families, creating an environment that enables an older person to feel independent and gives them the pleasure of staying in their own house should be the aim of all home design.
Courtesy:- Times Property dt:- 26/12/2009
Monday, December 28, 2009
SKY GARDEN
New-age windows, sky gardens that are weatherproof and are visually and acoustically planned out, are some of the novel elements that architects are trying. Rajati Bakshi writes
Amad rush of development in the Indian metros has resulted in the construction of over-bridges and causeways, unsurpassed vertical growth in residences and office spaces, and luxury apartments that are spread across cities. In this concrete jungle, green spaces are at a premium.
Today, million-dollar apartments are springing up all over the country, which boast huge structures, rich interiors, luxury amenities, all ensconced in premium locations. But the question still stands. What creates value in apartments?
While location is important, a business consultant points out, “Design is an equally necessary component. One needs to optimize the use of space even in grandeur.” The director of Raghav Realtors Pvt Ltd says: “Due to scarcity of space in Mumbai, the concept of outdoor living is almost non-existent. All open area is taken up by the apartment. Although outdoor culture is much more prevalent in Delhi, the utility-based integration of outdoor space is a must.”
Som Bakshi, a nationally and internationally awarded director-cum-cinematographer has used his visual acumen to provide simple design solutions that retain the grandeur and urbaneness of luxury apartments and also create outdoor spaces that are supremely unique.
Proportionate windows: The visual evolution of the human eye has progressed from a ratio of 3:4 vision to 16:9 and promises to move into the realm of 20:9 in the future. This can be seen in TV screens that were earlier rectangular in shape, but now, have moved firmly into the realm of panoramic screens.
This change is yet to be firmly incorporated as a design element in the construction of our windows. Currently, windows unfold the view of the city in vertical, rectangular or square-ish manner - a discerning eye invariably finds something amiss in this visual element. The hot glare of the noon sun pours in, requiring us to put heavy shades and double curtains.
To bypass this problem, in a luxury apartment created in Geetanjili Enclave, in the heart of South Delhi, Som Bakshi created windows that mirror the ratio that our eye demands today. These windows are in the ratio of 16:9 and provide panoramic views of the city.
“Although cinemascopic windows are now a fixture in the west, they have added advantages for India. Not only do they suit the visual evolution of the human eye, but they also slice off the hot glare of the Indian skies to reveal a gentler view of the city,” says Bakshi.
Experience the outdoors: Green spaces are at a premium everywhere. To transport the activities that would normally have taken place in the closed rooms of an apartment to a carefully constructed and cocooned sky garden with aesthetics, privacy and luxury was a problem that was put to rest. By bridging the gap between indoors and outdoors, the cinematographer created a permanent outdoor sit-out for up to a hundred people with a surround sound system and home theatre setup at the rooftop sky garden.
As a consequence, this increased the scope of the outdoor space and brought it to an experiential level - of music, a fireplace, an outdoor cinema, and a bar. Weatherproof, visually and acoustically planned out, and trend setting, this setup is perfect whether hosting an intimate evening or for a party.
Courtesy:- Times Property dt:- 26/12/2009
Amad rush of development in the Indian metros has resulted in the construction of over-bridges and causeways, unsurpassed vertical growth in residences and office spaces, and luxury apartments that are spread across cities. In this concrete jungle, green spaces are at a premium.
Today, million-dollar apartments are springing up all over the country, which boast huge structures, rich interiors, luxury amenities, all ensconced in premium locations. But the question still stands. What creates value in apartments?
While location is important, a business consultant points out, “Design is an equally necessary component. One needs to optimize the use of space even in grandeur.” The director of Raghav Realtors Pvt Ltd says: “Due to scarcity of space in Mumbai, the concept of outdoor living is almost non-existent. All open area is taken up by the apartment. Although outdoor culture is much more prevalent in Delhi, the utility-based integration of outdoor space is a must.”
Som Bakshi, a nationally and internationally awarded director-cum-cinematographer has used his visual acumen to provide simple design solutions that retain the grandeur and urbaneness of luxury apartments and also create outdoor spaces that are supremely unique.
Proportionate windows: The visual evolution of the human eye has progressed from a ratio of 3:4 vision to 16:9 and promises to move into the realm of 20:9 in the future. This can be seen in TV screens that were earlier rectangular in shape, but now, have moved firmly into the realm of panoramic screens.
This change is yet to be firmly incorporated as a design element in the construction of our windows. Currently, windows unfold the view of the city in vertical, rectangular or square-ish manner - a discerning eye invariably finds something amiss in this visual element. The hot glare of the noon sun pours in, requiring us to put heavy shades and double curtains.
To bypass this problem, in a luxury apartment created in Geetanjili Enclave, in the heart of South Delhi, Som Bakshi created windows that mirror the ratio that our eye demands today. These windows are in the ratio of 16:9 and provide panoramic views of the city.
“Although cinemascopic windows are now a fixture in the west, they have added advantages for India. Not only do they suit the visual evolution of the human eye, but they also slice off the hot glare of the Indian skies to reveal a gentler view of the city,” says Bakshi.
Experience the outdoors: Green spaces are at a premium everywhere. To transport the activities that would normally have taken place in the closed rooms of an apartment to a carefully constructed and cocooned sky garden with aesthetics, privacy and luxury was a problem that was put to rest. By bridging the gap between indoors and outdoors, the cinematographer created a permanent outdoor sit-out for up to a hundred people with a surround sound system and home theatre setup at the rooftop sky garden.
As a consequence, this increased the scope of the outdoor space and brought it to an experiential level - of music, a fireplace, an outdoor cinema, and a bar. Weatherproof, visually and acoustically planned out, and trend setting, this setup is perfect whether hosting an intimate evening or for a party.
Courtesy:- Times Property dt:- 26/12/2009
Tuesday, December 22, 2009
Hansmukhi Developers. Launches 1, 2, 3 bedroom apartments Race course in Dehradun
At Hansmukhi we promise that we will change the way you live with real estate firm, because we are determined to give you the most luxurious living apartments, flats and villas at the most affordable prices. Race course valley is a mini township with affordable apartments and villsas that brings in world class housing standards. We believe that it is not only the comforts of your homes, houses, apartments and villas which matter but also the location and environment you live in.
that is why we chose to build your dream houses, homes, apartments, flats, and villsa in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury houses, homes, apartments, flats, and villsa at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you in dehradun afordable housing houses, homes, apartments, flats, and villsa.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities in your houses, homes, apartments, flats, and villsa.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in your houses, homes, apartments, flats, and villsa.
Jogging Track.
Power Lifts for every tower.
Power Backup in your houses, homes, apartments, flats, and villsa
RO water system.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV.
Two Tier security system in your houses, homes, apartments, flats, and villsa.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen in your houses, homes, apartments, flats, and villsa *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space in houses, homes, apartments, flats, and villsa.
For more info log on to http://www.zameen-zaidad.com/race-course-dehradun.aspx
that is why we chose to build your dream houses, homes, apartments, flats, and villsa in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury houses, homes, apartments, flats, and villsa at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you in dehradun afordable housing houses, homes, apartments, flats, and villsa.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities in your houses, homes, apartments, flats, and villsa.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in your houses, homes, apartments, flats, and villsa.
Jogging Track.
Power Lifts for every tower.
Power Backup in your houses, homes, apartments, flats, and villsa
RO water system.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV.
Two Tier security system in your houses, homes, apartments, flats, and villsa.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen in your houses, homes, apartments, flats, and villsa *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space in houses, homes, apartments, flats, and villsa.
For more info log on to http://www.zameen-zaidad.com/race-course-dehradun.aspx
Hansmukhi Developers. Launches 2, 3 & 4 Bedroom Apartments in Dehradun Garden Estate
At Hansmukhi we promise that we will change the way you live, because we are determined to give you the most luxurious living at the most affordable prices. Race course valley is a mini township that brings in world class housing standards. We believe that it is not only the comforts of your home which matter but also the location and environment you live in.
that is why we chose to build your dream house in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in in your Residential Apartments.
Jogging Track.
Power Lifts for every tower.
Power Backup in your Residential Apartments.
RO water system in your Residential Apartments.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV in your Residential Apartments.
Two Tier security system in your Residential Apartments.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space.
that is why we chose to build your dream house in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in in your Residential Apartments.
Jogging Track.
Power Lifts for every tower.
Power Backup in your Residential Apartments.
RO water system in your Residential Apartments.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV in your Residential Apartments.
Two Tier security system in your Residential Apartments.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space.
Saturday, December 19, 2009
DLF-DAL MERGER
Promoters to gain from merger
Supriya Verma Mishra ET INTELLIGENCE GROUP
IT’S that feeling of deja vu. Delhi-based real estate developer DLF has announced a merger of its commercial realty arm DLF Assets (DAL) with itself — a move aimed at repaying some of DAL’s debt.
This merger is also aimed at consolidating all commercial properties under DLF, which will help add an annual income of close to Rs 500-600 crore in the form of lease rentals from 2009-10. DAL currently earns around Rs 325 crore from lease rentals.
The new structure involves the merger of DLF subsidiary DLF Cyber City Developers with Caraf Builders and Constructions, which is the holding company of DAL. The valuation ratio approved by the board for Cyber City and Caraf is in the ratio of 60:40. This means that DLF shareholders will have access to 60% and promoters to 40% of the merged entity. However, this will be a cashless transaction.
DLF sells commercial property to DAL, which is controlled by KP Singh who owns 78% in the latter along with his son and DLF promoter Rajeev Singh. DAL buys commercial property from DLF and collects lease rentals from it. With this merger, the debt on DLF’s books would be an additional Rs 2,460 crore.
Caraf, along with its subsidiaries, has four 3.3 million sq ft rent and a majority stake in DAL, which owns four SEZ properties with total leased area of 6.4 million sq ft. On the other hand, Cyber City has 6.7 million sq ft of builtout space across commercial buildings in Gurgaon and two operational malls in Delhi. Cyber City can further develop commercial and retail space in Gurgaon and Mumbai.
Due to non-availability of detailed numbers, we did some back-of-the-envelope calculations. Cyber City has a rental and development income of Rs 1,450 crore for FY09. The value of this company after the debt consideration comes close to Rs 11,300 crore, about 10 times its profit of Rs 1,100 crore. Capitalising DAL’s rental income at an average 10% capitalisation rate and considering a net debt of Rs 2,460 crore, DAL could be valued at roughly Rs 3,050 crore.
It shows that though the promoter’s share has come down in DAL, this merger provides access to high-rental yielding land. Whether the merger will really work out for the shareholders or not is yet to be clear, but it should certainly work out to the advantage of the promoters.
Courtesy:- ET dt:- 18/12/2009
Supriya Verma Mishra ET INTELLIGENCE GROUP
IT’S that feeling of deja vu. Delhi-based real estate developer DLF has announced a merger of its commercial realty arm DLF Assets (DAL) with itself — a move aimed at repaying some of DAL’s debt.
This merger is also aimed at consolidating all commercial properties under DLF, which will help add an annual income of close to Rs 500-600 crore in the form of lease rentals from 2009-10. DAL currently earns around Rs 325 crore from lease rentals.
The new structure involves the merger of DLF subsidiary DLF Cyber City Developers with Caraf Builders and Constructions, which is the holding company of DAL. The valuation ratio approved by the board for Cyber City and Caraf is in the ratio of 60:40. This means that DLF shareholders will have access to 60% and promoters to 40% of the merged entity. However, this will be a cashless transaction.
DLF sells commercial property to DAL, which is controlled by KP Singh who owns 78% in the latter along with his son and DLF promoter Rajeev Singh. DAL buys commercial property from DLF and collects lease rentals from it. With this merger, the debt on DLF’s books would be an additional Rs 2,460 crore.
Caraf, along with its subsidiaries, has four 3.3 million sq ft rent and a majority stake in DAL, which owns four SEZ properties with total leased area of 6.4 million sq ft. On the other hand, Cyber City has 6.7 million sq ft of builtout space across commercial buildings in Gurgaon and two operational malls in Delhi. Cyber City can further develop commercial and retail space in Gurgaon and Mumbai.
Due to non-availability of detailed numbers, we did some back-of-the-envelope calculations. Cyber City has a rental and development income of Rs 1,450 crore for FY09. The value of this company after the debt consideration comes close to Rs 11,300 crore, about 10 times its profit of Rs 1,100 crore. Capitalising DAL’s rental income at an average 10% capitalisation rate and considering a net debt of Rs 2,460 crore, DAL could be valued at roughly Rs 3,050 crore.
It shows that though the promoter’s share has come down in DAL, this merger provides access to high-rental yielding land. Whether the merger will really work out for the shareholders or not is yet to be clear, but it should certainly work out to the advantage of the promoters.
Courtesy:- ET dt:- 18/12/2009
Friday, December 18, 2009
DLF CYBER CITY ACQUIRES CARAF BUILDERS
DLF has acquired Caraf Builders & Constructions (‘Caraf’), which owns DLF Assets Private (DAL), from promoter KP Singh’s family. DLF’s board approved the transaction recently. DLF’s wholly owned subsidiary DLF Cyber City will acquire Caraf in a cashless transaction.After the transaction, the promoter stake in Cyber City will be 40%, while DLF’s stake will come down to 60%.
“The valuation ratio approved by the board accepted the relative valuation of Cyber City and Caraf in the ratio of 60:40. Consequently, the company would have an economic interest in the integrated entity of 60% with the residual 40% economic interest being held by the shareholders of Caraf (who are the promoters of the company),” DLF said in a statement. The transaction is aimed at consolidating the group’s rental assets under DLF to ensure a steady cash flow to DLF. It will also help in eliminating the conflict of interest between promoter entities and DLF,while facilitating management inte-gration and overlap elimination.
Courtesy:- ET Realty dt:- 18/12/2009
“The valuation ratio approved by the board accepted the relative valuation of Cyber City and Caraf in the ratio of 60:40. Consequently, the company would have an economic interest in the integrated entity of 60% with the residual 40% economic interest being held by the shareholders of Caraf (who are the promoters of the company),” DLF said in a statement. The transaction is aimed at consolidating the group’s rental assets under DLF to ensure a steady cash flow to DLF. It will also help in eliminating the conflict of interest between promoter entities and DLF,while facilitating management inte-gration and overlap elimination.
Courtesy:- ET Realty dt:- 18/12/2009
Wednesday, December 16, 2009
DLF Group Launches Commercial complex in pune
Pune is at the confluence of the Mutha and Mula river, surrounded by hills and lies in the natural settings having pleasant climate.
Regarded as Oxford of the East
Location for Industrial Engineering, Logistics business – This has drawn dlf-it-park-pune.aspxinvestments from ITES / BPO
MIDC has set up 3 IT Parks:
Hinjewadi
Talawadi
Kharadi
Access to Mumbai by Air, Rail & New Expressway ( with 2-1/2 hours from Mumbai)
A dlf-it-park-pune.aspxmulti-block development of approx. 1.6 million sq.ft. (Phase I) set in large landscaped campus of 60 acres.
Specification
Design
* Building designed by Renowned Architects.
* Structure designed to Seismic Zone specifications-One level higher than mandatory requirement by the govt.
* NFPA Compliant Building.
Systems
* 100% Power Back Up.
* Central air-conditioning.
* Sufficient Stilt and Basement Parking.
* Provision for Telecom Infrastructure.
Value Add
* dlf-it-park-pune.aspxProfessional Property Maintenance by DLF Services Ltd.
* Experience of Maintaining Over 6 million sq.ft. office buildings to global standards.
* Low operating cost through economies of scale.
* Committed delivery schedules.
* Amenities like Food Court, Bank ATM's, Gymnasiums, Retail zone as a part of the complex.
for more inco log on to http://www.zameen-zaidad.com/dlf-it-park-pune.aspx
Regarded as Oxford of the East
Location for Industrial Engineering, Logistics business – This has drawn dlf-it-park-pune.aspxinvestments from ITES / BPO
MIDC has set up 3 IT Parks:
Hinjewadi
Talawadi
Kharadi
Access to Mumbai by Air, Rail & New Expressway ( with 2-1/2 hours from Mumbai)
A dlf-it-park-pune.aspxmulti-block development of approx. 1.6 million sq.ft. (Phase I) set in large landscaped campus of 60 acres.
Specification
Design
* Building designed by Renowned Architects.
* Structure designed to Seismic Zone specifications-One level higher than mandatory requirement by the govt.
* NFPA Compliant Building.
Systems
* 100% Power Back Up.
* Central air-conditioning.
* Sufficient Stilt and Basement Parking.
* Provision for Telecom Infrastructure.
Value Add
* dlf-it-park-pune.aspxProfessional Property Maintenance by DLF Services Ltd.
* Experience of Maintaining Over 6 million sq.ft. office buildings to global standards.
* Low operating cost through economies of scale.
* Committed delivery schedules.
* Amenities like Food Court, Bank ATM's, Gymnasiums, Retail zone as a part of the complex.
for more inco log on to http://www.zameen-zaidad.com/dlf-it-park-pune.aspx
DLF Limited launches Residential apartment With assured returns in indore
Discover the land of opportunities – Indore
The city of Indore with a splendid past boasts of an equally bright future. Indore City is today the commercial and IT hub of central India.
Over the years, the city has welcomed people from all over to evolve into a truly cosmopolitan population.
As one of the fastest growing cities in India, dotted with lush green surroundings, brimming with new job opportunities and diverse talent pool, Indore is ideal for comfortable living and working. And DLF is here to complement the ever growing lifestyle of Indore with world-class homes.
Discover all you desire at Gardencity
The best way to understand nature is to make it a part of your life. DLF well & truly brings this sentiment to Gardencity, where you live amidst nature and enjoy a contemporary lifestyle. Gardencity's 82 acres of pollution-free environs gives the residents a perfect answer to beat their stressful lifestyle. The township has been aesthetically designed by Hafeez Contractor while the landscapes are beautified by a renowned Singapore based consultant.
With theme gardens like Ornamental Garden, Spiritual Garden, Bonsai Garden, Zodiac Garden, Gardencity brings you a step closer to nature. With a Club, School, Shopping Mall and a well-equipped Fortis Hospital within the vicinity, DLF fulfills its promise of bringing world-class lifestyle to Indore.
Clubhouse
Discover lavish clubbing facilities that pamper you
An exclusively designed club, one of the biggest in Central India, will pamper you and your family with lavish facilities. The club is built in an area of about 2.5 acres and will offer a whole new world of leisure activities. Whenever you'll want to take time out from your busy life and schedules, you'll end up feeling naturally relaxed and rejuvenated at the club. This world-class clubbing facility will cater to the leisure needs of its members.
Discover the new face of Indore at Gardencity
Gardencity, New Indore brings a cosmopolitan lifestyle to Indore with homes equipped with all modern facilities, catering to people aspiring a luxurious lifestyle.
The lush green 82 acres of Gardencity offers plots in various sizes ranging from 1800 sq.ft. to 3600 sq. ft. enveloped by open spaces.
It also boasts of a world-class club, international school for your child's future, a fully equipped 100 plus bed Fortis Hospital, shopping complex and a shopping mall with multiplex right on the AB Bye-Pass Road.
IPTV ready for enhanced entertainment.
Power distribution through underground cabling.
Discover a new world of leisure and lifestyle near you
A stress free life awaits you when you enter Gardencity, New Indore. Located in the midst of green gardens where peace and tranquility prevails, every moment spent here will complement healthy living. State-of-the-art facilities like swimming pool, gymnasium, tennis & squash courts and pool side café, truly gives 'leisure' a new dimension. Besides, you can also engage yourself in a refreshing morning jog or make yourevenings delightful at the community centre. What's more, you can also enjoy the advantage of being located in the midst of nature. Along with other modern amenities, this place is a perfect retreat to calm your senses.
Subject to terms and conditions.
For more info log on to http://www.zameen-zaidad.com/DLF-Garden-City.aspx
The city of Indore with a splendid past boasts of an equally bright future. Indore City is today the commercial and IT hub of central India.
Over the years, the city has welcomed people from all over to evolve into a truly cosmopolitan population.
As one of the fastest growing cities in India, dotted with lush green surroundings, brimming with new job opportunities and diverse talent pool, Indore is ideal for comfortable living and working. And DLF is here to complement the ever growing lifestyle of Indore with world-class homes.
Discover all you desire at Gardencity
The best way to understand nature is to make it a part of your life. DLF well & truly brings this sentiment to Gardencity, where you live amidst nature and enjoy a contemporary lifestyle. Gardencity's 82 acres of pollution-free environs gives the residents a perfect answer to beat their stressful lifestyle. The township has been aesthetically designed by Hafeez Contractor while the landscapes are beautified by a renowned Singapore based consultant.
With theme gardens like Ornamental Garden, Spiritual Garden, Bonsai Garden, Zodiac Garden, Gardencity brings you a step closer to nature. With a Club, School, Shopping Mall and a well-equipped Fortis Hospital within the vicinity, DLF fulfills its promise of bringing world-class lifestyle to Indore.
Clubhouse
Discover lavish clubbing facilities that pamper you
An exclusively designed club, one of the biggest in Central India, will pamper you and your family with lavish facilities. The club is built in an area of about 2.5 acres and will offer a whole new world of leisure activities. Whenever you'll want to take time out from your busy life and schedules, you'll end up feeling naturally relaxed and rejuvenated at the club. This world-class clubbing facility will cater to the leisure needs of its members.
Discover the new face of Indore at Gardencity
Gardencity, New Indore brings a cosmopolitan lifestyle to Indore with homes equipped with all modern facilities, catering to people aspiring a luxurious lifestyle.
The lush green 82 acres of Gardencity offers plots in various sizes ranging from 1800 sq.ft. to 3600 sq. ft. enveloped by open spaces.
It also boasts of a world-class club, international school for your child's future, a fully equipped 100 plus bed Fortis Hospital, shopping complex and a shopping mall with multiplex right on the AB Bye-Pass Road.
IPTV ready for enhanced entertainment.
Power distribution through underground cabling.
Discover a new world of leisure and lifestyle near you
A stress free life awaits you when you enter Gardencity, New Indore. Located in the midst of green gardens where peace and tranquility prevails, every moment spent here will complement healthy living. State-of-the-art facilities like swimming pool, gymnasium, tennis & squash courts and pool side café, truly gives 'leisure' a new dimension. Besides, you can also engage yourself in a refreshing morning jog or make yourevenings delightful at the community centre. What's more, you can also enjoy the advantage of being located in the midst of nature. Along with other modern amenities, this place is a perfect retreat to calm your senses.
Subject to terms and conditions.
For more info log on to http://www.zameen-zaidad.com/DLF-Garden-City.aspx
Thursday, December 10, 2009
Dreamline Clolnizers & Developers develop new Residential Apartments in jaipur
Project Name The Residency Jaipur
Name of Builder Dreamline Clolnizers & Developers
Project Type Residential Apartments
Price As below
Location Jaipur
Agent Shri Aditya Estates 42470622, 9810445860
The jaipur Residency is Residential Apartment located at Diggi-Malpura Road, Teh-Phagi, Jaipur. This Residential Apartments Scheme is hardly 7 minute drive from The J.D.A. Residential Scheme, Rohini Nagar Phase- 1 and 2. River Dhund is also flowing near by 'The Jaipur Residency. Here you can admire the beauty of nature. This is a perfect place to relax in weekends after those busy working days. So throw yourself into the lap of nature and experience the divine peace and rejuvenate your body and soul.
About The Jaipur Residency Residential Apartments
Eco friendly & Green Environment Gated Project
24 hours water supply
Free hold Farm House available in various sizes in this Apartments
Club House
Swimming Pool
Round the Clock Security
Mega Park with water body
Wide road for easy approach
Religious place
For more info log on to http://www.zameen-zaidad.com/the-residency-jaipur.aspx
Name of Builder Dreamline Clolnizers & Developers
Project Type Residential Apartments
Price As below
Location Jaipur
Agent Shri Aditya Estates 42470622, 9810445860
The jaipur Residency is Residential Apartment located at Diggi-Malpura Road, Teh-Phagi, Jaipur. This Residential Apartments Scheme is hardly 7 minute drive from The J.D.A. Residential Scheme, Rohini Nagar Phase- 1 and 2. River Dhund is also flowing near by 'The Jaipur Residency. Here you can admire the beauty of nature. This is a perfect place to relax in weekends after those busy working days. So throw yourself into the lap of nature and experience the divine peace and rejuvenate your body and soul.
About The Jaipur Residency Residential Apartments
Eco friendly & Green Environment Gated Project
24 hours water supply
Free hold Farm House available in various sizes in this Apartments
Club House
Swimming Pool
Round the Clock Security
Mega Park with water body
Wide road for easy approach
Religious place
For more info log on to http://www.zameen-zaidad.com/the-residency-jaipur.aspx
Parsavnath Developers Ltd Develop new Residential Apartment in Lucknow
Project Name Parsvnath Planet
Name of Builder Parsvnath Developers Ltd..
Project Type Residential Apartments
Price Rs.2050@sq.ft(3BR & 4BR)
Location Lucknow (UttarPradesh)
Price List Type of Unit Accommodation Saleable Area (Sq.Ft.) Basic Rate Per Sq.Ft. (Rs.) Down Payment Rate Per Sq.Ft. with 6% rebate (Rs.) 3 BR 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies
1675 2200 2068
3 BR+S 3 Bedrooms, Living Room, Dining Room Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies & Servant Room with Toilet 1775
4 BR 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser) Entrance Foyer & 3 Balconies 2050
4 BR+S 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilets with Dresser) Entrance Foyer, 3 Balconies & Servant Room with Toilet 2175
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies 1790
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Store, Entrance Foyer, Lobby, Loft, 3 Balconies 1875
3 BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies and Servant Room with Toilet
1890
3BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser) Store, Entrance Foyer, Lobby, Loft , 3 Balconies and Servant Room with Toilet 1975
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Powder Room, Lobby, Entrance Foyer, Utility Balcony, Servant Room with Toilet & Terrace of 452 Sq.Ft. 3025
4BR+S Bridging PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Family Lounge, Lobby, Utility Balcony, Entrance Foyer, Servant Room with Toilet & Terrace of 452+ 291Sq.ft. 3300
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilet with Dresser), Family Lounge, Study, Entrance Foyer, 2 Balconies, Servant Room with Toilet & Terrace of 540+ 145 Sq.Ft. 3725
For more info log on to http://www.zameen-zaidad.com/parsvnath-planet-lucknow.aspx
Name of Builder Parsvnath Developers Ltd..
Project Type Residential Apartments
Price Rs.2050@sq.ft(3BR & 4BR)
Location Lucknow (UttarPradesh)
Price List Type of Unit Accommodation Saleable Area (Sq.Ft.) Basic Rate Per Sq.Ft. (Rs.) Down Payment Rate Per Sq.Ft. with 6% rebate (Rs.) 3 BR 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies
1675 2200 2068
3 BR+S 3 Bedrooms, Living Room, Dining Room Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies & Servant Room with Toilet 1775
4 BR 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser) Entrance Foyer & 3 Balconies 2050
4 BR+S 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilets with Dresser) Entrance Foyer, 3 Balconies & Servant Room with Toilet 2175
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies 1790
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Store, Entrance Foyer, Lobby, Loft, 3 Balconies 1875
3 BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies and Servant Room with Toilet
1890
3BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser) Store, Entrance Foyer, Lobby, Loft , 3 Balconies and Servant Room with Toilet 1975
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Powder Room, Lobby, Entrance Foyer, Utility Balcony, Servant Room with Toilet & Terrace of 452 Sq.Ft. 3025
4BR+S Bridging PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Family Lounge, Lobby, Utility Balcony, Entrance Foyer, Servant Room with Toilet & Terrace of 452+ 291Sq.ft. 3300
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilet with Dresser), Family Lounge, Study, Entrance Foyer, 2 Balconies, Servant Room with Toilet & Terrace of 540+ 145 Sq.Ft. 3725
For more info log on to http://www.zameen-zaidad.com/parsvnath-planet-lucknow.aspx
Wednesday, December 9, 2009
MSEZ WITHDRAWS LAND ACQUISITION PETITION IN SC
In a development that could mark the end of Reliance Industries CMD Mukesh Ambani’s dream to build India’s biggest special export zone near Mumbai, Mumbai SEZ (MSEZ) is learnt to have withdrawn its review petition before the Supreme Court that sought to expedite land acquisition for its Maha Mumbai SEZ.
MSEZ’s decision to pull out its petition comes in the wake of the SEZ board of approval (BoA) refusing the company a further time extension for the land acquisition. The BoA recently directed the company to approach the Maharashtra government to begin the entire process afresh after it failed to mop up enough land within the stipulated timeframe. In June 2009, the SC order refusing to stay a Bombay High Court decision that declined to give any directive to state authorities to speed up land acquisition for the 10,000-hectare project came as a setback for the company. The Ambanipromoted MSEZ wanted the high court to direct the Raigad district administration to complete the land acquisition before the June 6 deadline under the Land Acquisition Act. It noted that the district authorities had not completed the process even two years after the Maharashtra government allowed the company to set up a multiproduct SEZ in the region.
The HC refused to grant relief by an order on May 22, 2009, against which the company filed an appeal before the SC. The apex court too in the first week of June rejected the company’s demand to stay the HC ruling. In its petition, Mumbai SEZ submitted that the HC failed to appreciate that the district collector was duty-bound to pass a consent award within two years of the land acquisition notification dated June 8, 2007, after declaration under Section. 6 of the Land Acquisition Act in cases where land owners had voluntarily consented for sale of their land and entered into sale agreements. The consent awards must be passed before June 8, 2009. If not, the entire acquisition proceedings would lapse, causing grave financial loss to the petitioners who had already invested Rs 600 crore in the project, the petition noted.
Though the SC rejected the demand, it allowed the company to file a review petition which was subsequently submitted. This has now been withdrawn by the company.
Courtesy:- ET dt:- 08/12/2009
MSEZ’s decision to pull out its petition comes in the wake of the SEZ board of approval (BoA) refusing the company a further time extension for the land acquisition. The BoA recently directed the company to approach the Maharashtra government to begin the entire process afresh after it failed to mop up enough land within the stipulated timeframe. In June 2009, the SC order refusing to stay a Bombay High Court decision that declined to give any directive to state authorities to speed up land acquisition for the 10,000-hectare project came as a setback for the company. The Ambanipromoted MSEZ wanted the high court to direct the Raigad district administration to complete the land acquisition before the June 6 deadline under the Land Acquisition Act. It noted that the district authorities had not completed the process even two years after the Maharashtra government allowed the company to set up a multiproduct SEZ in the region.
The HC refused to grant relief by an order on May 22, 2009, against which the company filed an appeal before the SC. The apex court too in the first week of June rejected the company’s demand to stay the HC ruling. In its petition, Mumbai SEZ submitted that the HC failed to appreciate that the district collector was duty-bound to pass a consent award within two years of the land acquisition notification dated June 8, 2007, after declaration under Section. 6 of the Land Acquisition Act in cases where land owners had voluntarily consented for sale of their land and entered into sale agreements. The consent awards must be passed before June 8, 2009. If not, the entire acquisition proceedings would lapse, causing grave financial loss to the petitioners who had already invested Rs 600 crore in the project, the petition noted.
Though the SC rejected the demand, it allowed the company to file a review petition which was subsequently submitted. This has now been withdrawn by the company.
Courtesy:- ET dt:- 08/12/2009
RETAIL SECTOR TO GROW TO $410 B BY 2010: ASSOCHAM
The Indian retail sector is expected to grow at a rate of 5.5% to $410 billion (around Rs 19,03,844 crore) by 2010 from the present about $300 billion, Assocham said on Monday. The chamber said that organized retail, which at present accounts for nearly 5 per cent of the overall retail market, is likely to touch $13 billion (around Rs 60,375 crore) by 2010 from $9.23 billion (around Rs 42,000 crore) currently. "The size of Indian retail sector is estimated to grow by a compound annual growth rate of 5.5%, to become $410 billion market by 2010," it said.
Courtesy:- ET dt:- 08/12/2009
Courtesy:- ET dt:- 08/12/2009
Thursday, December 3, 2009
Make your home loan process simple
Are you planning to go in for a home loan in the near future? Kavita Sriram has a step-by-step guide to make the process of availing a home loan easy
The process of acquiring a home loan is a long one. Here is a step-by-step guide that can help a prospective homebuyer.
Formal application
The process of acquiring a home loan starts off with an application supported with necessary documents. Some banks charge a processing fee at the time of applying for a loan. This fee is usually a non-refundable amount of around 0.5 percent of the loan amount. Most lenders seek personal details, income information and details about your education, property and estimated purchase cost in the application form.
Documents for proof
The home loan applicant is expected to furnish certain valid documents as proof.
Some documents needed:
• Certificate of income
• Proof of age
• Photo ID
• Continuity of service
• Residence address proof
• Employment details
• Educational qualifications
• Property to be purchased
• Bank account details
Verification of application
The bank conducts an elaborate verification on creditworthiness, and on issues such as previous defaults and other debts. Depending on your income level and financial condition, the lender computes your loan eligibility. If the bank suspects your repayment capacity or if the information given by you is incorrect, your loan application may be turned down.
Property evaluation
Experts visit and evaluate the property you intend to purchase. Banks usually have a team of legal experts who make legal verifications of documents. A home loan is a secured loan where the property you intend to purchase is used as collateral. Hence, the lender conducts technical valuations and monitors the various stages of construction through the tenure of the loan.
Home loan agreement
The lender sends an offer letter that contains details of the loan amount sanctioned, interest rate applicable, tenure, repayment options and terms and conditions associated with the home loan. The applicant must read the loan agreement carefully and sign it if he has no objections to it. Apart from post-dated cheques that must be submitted to the lender, the applicant must pay stamp duty and other fees.
The original property documents are retained with the lender till the loan amount is repaid by the borrower.
Loan disbursement
After the home loan agreement is signed, the loan disbursal process begins. There may be slight variations in the process/sequence from lender to lender.
Identify the right property that is free of litigations and is located in a good neighbourhood. Then select a good lender who offers low rates and doesn't levy heavy penalties and fees. If you have all documents in order and no previous history of defaults, getting a home loan will not be an ordeal at all.
Courtesy:- FT dt:- 22/11/2009
The process of acquiring a home loan is a long one. Here is a step-by-step guide that can help a prospective homebuyer.
Formal application
The process of acquiring a home loan starts off with an application supported with necessary documents. Some banks charge a processing fee at the time of applying for a loan. This fee is usually a non-refundable amount of around 0.5 percent of the loan amount. Most lenders seek personal details, income information and details about your education, property and estimated purchase cost in the application form.
Documents for proof
The home loan applicant is expected to furnish certain valid documents as proof.
Some documents needed:
• Certificate of income
• Proof of age
• Photo ID
• Continuity of service
• Residence address proof
• Employment details
• Educational qualifications
• Property to be purchased
• Bank account details
Verification of application
The bank conducts an elaborate verification on creditworthiness, and on issues such as previous defaults and other debts. Depending on your income level and financial condition, the lender computes your loan eligibility. If the bank suspects your repayment capacity or if the information given by you is incorrect, your loan application may be turned down.
Property evaluation
Experts visit and evaluate the property you intend to purchase. Banks usually have a team of legal experts who make legal verifications of documents. A home loan is a secured loan where the property you intend to purchase is used as collateral. Hence, the lender conducts technical valuations and monitors the various stages of construction through the tenure of the loan.
Home loan agreement
The lender sends an offer letter that contains details of the loan amount sanctioned, interest rate applicable, tenure, repayment options and terms and conditions associated with the home loan. The applicant must read the loan agreement carefully and sign it if he has no objections to it. Apart from post-dated cheques that must be submitted to the lender, the applicant must pay stamp duty and other fees.
The original property documents are retained with the lender till the loan amount is repaid by the borrower.
Loan disbursement
After the home loan agreement is signed, the loan disbursal process begins. There may be slight variations in the process/sequence from lender to lender.
Identify the right property that is free of litigations and is located in a good neighbourhood. Then select a good lender who offers low rates and doesn't levy heavy penalties and fees. If you have all documents in order and no previous history of defaults, getting a home loan will not be an ordeal at all.
Courtesy:- FT dt:- 22/11/2009
PERK UP REALTY
With the real estate sector gradually emerging from the pangs of recession, there is need to create a mechanism to put the sector back on the growth track and avoid pitfalls Sandeep Rai
The recent global financial meltdown has completely shocked the world even though the Indian economy as a whole has largely been insulated against global economy slowdown. Despite that, the Indian real estate sector had been severely hit in the mayhem. Nevertheless, there have been some improvements in the market sentiments now and lot needs to be done to ensure the growth reaches its original momentum. Now we expect that normal buying cycle is back. But there are certain concerns. This is the time when the real estate market will witness fundamental change for now buyer will look for need based accommodation. He will be highly cautious and choose on the basis of performance rather than euphoria. With the focus shifted to affordable housing, the real estate sector will now speak more about volumes. As per Dr. M. Ramachandran, secretary, ministry of urban development, "There is a dearth of more than 24 million low cost households in the country", which is actually a whopping figure. The major question that arises in this context is of availability of land which according to the sector pundits is a scarce commodity by all means. Nevertheless, there are a few who do not agree that land is not available for development. According to Anshuman Magazine, CMD, CBRE India, "There is a general perception that there is shortage of land for urban or low cost housing development but the fact is that still we are using only a very small percentage of land. And I am of the opinion that there is enough land available. All we have to do is to create good infrastructure. The more the infrastructure is developed, the more the land can be brought in to use for development. And infrastructure here does not only mean roads and bridges but includes schools, hospitals, social infrastructure, etc., and that's where the government can play a major role. Second thing is the availability of low interest capital both for buyer and developer which will obviously allow more people in the range who can afford to borrow money to buy and this consumption will bring in more supply."
The second major concern has been the pricing. According to Jaipal Reddy, "We had real estate boom with mind boggling prices and we had a slowdown, but, part of this slowdown was caused by the rush of real estate companies for top end apartments and buildings." With complete focus on niche segment, the household prices hit the roof, a mistake the sector cannot afford to repeat. According to Rohtas Goel, president, NAREDCO, "To overcome the challenges, the real estate developers have already bottomed out the prices and have not only launched affordable housing but have also revisited their ongoing projects and redesigned them into affordable models. Now developers have started working on water thin margins and are also ready to work hand in hand with the government to achieve its social objective of providing housing for all through public-private partnership as a mission." However, to fulfill this task what is needed is a consensus model which will be ideal, transparent, workable and implementable and that will be of interest to all the stakeholders. Well there has been some focus of the government in introducing reforms, yet, to revive the real estate sector much is left to be done to increase the pace of growth and to fulfill the dreams of millions of houseless in India and the motto of government for housing for all there is need for government to provide some more relaxations at this point of time. Sums up Goel, "Given the demand and emphasis of the government on affordable housing, there is a need to re-introduce section 80IB10. Under the section a developer gets tax benefits if he constructs the property in four years time. It is requested to increase the time frame since these are the times of recession and developers find it increasingly difficult to complete construct within the allowed time frame. Government needs to take a re-look into the direct tax code which is likely to be introduced in 2011. And since it has certain negative points for individual buyers such as abolition of benefits under 80C for the return of housing loan, discontinuance of benefits under IT act for self occupied property, etc., encourage states to reduce stamp duty to 5% and provide a system of credit for each stage of sale. At this point of time every transaction has a stamp duty. If some property is sold at Rs. 10 lakhs and in the next stage it is sold at 15 lakh rupees so the levy should be on Rs. 5 lakhs and not on Rs. 15 lakh, since tax on Rs. 10 lakhs has already been levied. Similarly the custom duty on capital equipment used in construction should be reduced from 8% to 4%."
Courtesy:- TOI dt:- 20/11/2009
The recent global financial meltdown has completely shocked the world even though the Indian economy as a whole has largely been insulated against global economy slowdown. Despite that, the Indian real estate sector had been severely hit in the mayhem. Nevertheless, there have been some improvements in the market sentiments now and lot needs to be done to ensure the growth reaches its original momentum. Now we expect that normal buying cycle is back. But there are certain concerns. This is the time when the real estate market will witness fundamental change for now buyer will look for need based accommodation. He will be highly cautious and choose on the basis of performance rather than euphoria. With the focus shifted to affordable housing, the real estate sector will now speak more about volumes. As per Dr. M. Ramachandran, secretary, ministry of urban development, "There is a dearth of more than 24 million low cost households in the country", which is actually a whopping figure. The major question that arises in this context is of availability of land which according to the sector pundits is a scarce commodity by all means. Nevertheless, there are a few who do not agree that land is not available for development. According to Anshuman Magazine, CMD, CBRE India, "There is a general perception that there is shortage of land for urban or low cost housing development but the fact is that still we are using only a very small percentage of land. And I am of the opinion that there is enough land available. All we have to do is to create good infrastructure. The more the infrastructure is developed, the more the land can be brought in to use for development. And infrastructure here does not only mean roads and bridges but includes schools, hospitals, social infrastructure, etc., and that's where the government can play a major role. Second thing is the availability of low interest capital both for buyer and developer which will obviously allow more people in the range who can afford to borrow money to buy and this consumption will bring in more supply."
The second major concern has been the pricing. According to Jaipal Reddy, "We had real estate boom with mind boggling prices and we had a slowdown, but, part of this slowdown was caused by the rush of real estate companies for top end apartments and buildings." With complete focus on niche segment, the household prices hit the roof, a mistake the sector cannot afford to repeat. According to Rohtas Goel, president, NAREDCO, "To overcome the challenges, the real estate developers have already bottomed out the prices and have not only launched affordable housing but have also revisited their ongoing projects and redesigned them into affordable models. Now developers have started working on water thin margins and are also ready to work hand in hand with the government to achieve its social objective of providing housing for all through public-private partnership as a mission." However, to fulfill this task what is needed is a consensus model which will be ideal, transparent, workable and implementable and that will be of interest to all the stakeholders. Well there has been some focus of the government in introducing reforms, yet, to revive the real estate sector much is left to be done to increase the pace of growth and to fulfill the dreams of millions of houseless in India and the motto of government for housing for all there is need for government to provide some more relaxations at this point of time. Sums up Goel, "Given the demand and emphasis of the government on affordable housing, there is a need to re-introduce section 80IB10. Under the section a developer gets tax benefits if he constructs the property in four years time. It is requested to increase the time frame since these are the times of recession and developers find it increasingly difficult to complete construct within the allowed time frame. Government needs to take a re-look into the direct tax code which is likely to be introduced in 2011. And since it has certain negative points for individual buyers such as abolition of benefits under 80C for the return of housing loan, discontinuance of benefits under IT act for self occupied property, etc., encourage states to reduce stamp duty to 5% and provide a system of credit for each stage of sale. At this point of time every transaction has a stamp duty. If some property is sold at Rs. 10 lakhs and in the next stage it is sold at 15 lakh rupees so the levy should be on Rs. 5 lakhs and not on Rs. 15 lakh, since tax on Rs. 10 lakhs has already been levied. Similarly the custom duty on capital equipment used in construction should be reduced from 8% to 4%."
Courtesy:- TOI dt:- 20/11/2009
Tuesday, December 1, 2009
TAX REBATE ON HOME LOAN INTEREST
The interest component of home loan repayment can be deducted from income while computing your tax liability, says Ashish Gupta
Under the Income Tax Act, interest on a home loan is tax deductible provided the specified conditions are complied with. The deduction is available while computing income under the head ‘Income from House Property’. Deduction on interest paid is available even if the house is not rented out and is either lying vacant or has been self-occupied.
The relevant provisions are contained under Section 24 of the Income Tax Act. The loan should be taken for construction, acquisition, repair or reconstruction of property. The main condition is the assessee should borrow the money for housing purposes. The interest should be payable on the borrowed capital.
For the purpose of computing income or loss under the head ‘Income from House Property’ for a self-occupied house, a normal deduction of Rs 30,000 is allowed in respect of interest on borrowed capital. However, a deduction on interest up to a maximum limit of Rs 1.5 lakhs is available if the loan has been taken on or after April 1, 1999 to construct or buy a house. The construction or acquisition of the house should have been completed within three years from the end of the financial year in which the capital was borrowed.
This higher deduction is not allowed for interest on capital borrowed for the purposes of repairs or renovation of an existing house. To claim the higher deduction, the assessee should furnish a certificate from the bank on the capital borrowed, specifying the amount of interest payable, and the purpose - construction or acquisition.
The two essential conditions necessary for availing the higher deduction are the amount must have been borrowed on or after April 1, 1999 and the acquisition or construction of the house
must have been completed within three years from the end of the financial year in which the capital was borrowed. There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the house could have commenced before April 1, 1999 too. As long as the construction or acquisition is completed within three years from the end of the financial year in which the capital was borrowed, the higher deduction is available. It is also to be noted that there is no stipulation regarding the construction or acquisition of the house being entirely financed by capital borrowed on or after April 1, 1999. A loan taken prior to April 1, 1999 will carry a deduction of interest up to Rs 30,000 only. However, in any case, the total amount of deduction of interest on borrowed capital cannot exceed Rs 1.5 lakhs in a year.
In case a property has been acquired or constructed with borrowed capital, the interest payable on the amount borrowed for the period prior to the previous year in which the property has been acquired or constructed is also eligible for deduction. The interest is deductible in five equal instalments commencing from the previous year in which the house has been acquired or constructed. The first instalment is deductible in the year in which the construction of the property is completed or the property is acquired. The balance four instalments are deductible in the four subsequent years.
The interest is allowed as a deduction on accrual basis i.e. on due basis. It is not necessary that it should have been actually been paid during the year. Under the Income Tax Act, only the person who has taken the loan can claim tax rebates.
Courtesy:- TOI dt:- 21/11/2009
Under the Income Tax Act, interest on a home loan is tax deductible provided the specified conditions are complied with. The deduction is available while computing income under the head ‘Income from House Property’. Deduction on interest paid is available even if the house is not rented out and is either lying vacant or has been self-occupied.
The relevant provisions are contained under Section 24 of the Income Tax Act. The loan should be taken for construction, acquisition, repair or reconstruction of property. The main condition is the assessee should borrow the money for housing purposes. The interest should be payable on the borrowed capital.
For the purpose of computing income or loss under the head ‘Income from House Property’ for a self-occupied house, a normal deduction of Rs 30,000 is allowed in respect of interest on borrowed capital. However, a deduction on interest up to a maximum limit of Rs 1.5 lakhs is available if the loan has been taken on or after April 1, 1999 to construct or buy a house. The construction or acquisition of the house should have been completed within three years from the end of the financial year in which the capital was borrowed.
This higher deduction is not allowed for interest on capital borrowed for the purposes of repairs or renovation of an existing house. To claim the higher deduction, the assessee should furnish a certificate from the bank on the capital borrowed, specifying the amount of interest payable, and the purpose - construction or acquisition.
The two essential conditions necessary for availing the higher deduction are the amount must have been borrowed on or after April 1, 1999 and the acquisition or construction of the house
must have been completed within three years from the end of the financial year in which the capital was borrowed. There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the house could have commenced before April 1, 1999 too. As long as the construction or acquisition is completed within three years from the end of the financial year in which the capital was borrowed, the higher deduction is available. It is also to be noted that there is no stipulation regarding the construction or acquisition of the house being entirely financed by capital borrowed on or after April 1, 1999. A loan taken prior to April 1, 1999 will carry a deduction of interest up to Rs 30,000 only. However, in any case, the total amount of deduction of interest on borrowed capital cannot exceed Rs 1.5 lakhs in a year.
In case a property has been acquired or constructed with borrowed capital, the interest payable on the amount borrowed for the period prior to the previous year in which the property has been acquired or constructed is also eligible for deduction. The interest is deductible in five equal instalments commencing from the previous year in which the house has been acquired or constructed. The first instalment is deductible in the year in which the construction of the property is completed or the property is acquired. The balance four instalments are deductible in the four subsequent years.
The interest is allowed as a deduction on accrual basis i.e. on due basis. It is not necessary that it should have been actually been paid during the year. Under the Income Tax Act, only the person who has taken the loan can claim tax rebates.
Courtesy:- TOI dt:- 21/11/2009
VARDHMAN GROUP TO FORAY INTO HOSPITALITY, FOODS BIZ
Real estate developer Vardhman Group on Sunday said it has incorporated two separate entities to foray into the hospitality and food segments. "We have started two entities - Vardhman Fantasy and Vardhman Foods. Vardhman Fantasy will take care of the hospitality part," Vardhman Group's managing director Rajesh Vardhan said here.
Courtesy:- ET dt:- 23/11/2009
Courtesy:- ET dt:- 23/11/2009
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