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The Stone Age
Double Dhamaka for Dehradun
No longer maal-a-mall
GREEN HOUSE
DLF to launch Infopark in Bhubaneswar
…withdraws from Kolkata project
Buying, selling property just got tougher
This column appears weekly. The writer can be contacted at sc@scvasudeva.com
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Renovation: Upper limit Rs 30,000
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The Stone Age
YOU can grow your garden into happy hunting grounds without really pruning your bank balance. Really, you do not need to cultivate a professional landscape artist or mingle your sweat with the earth below for harvesting the pleasure of relaxing in greener pastures.
All you need is some hard natural stonework to alleviate the way your garden looks. In fact, a bunch of garden accessories meticulously carved out of stone will do the trick for you. A birdbath here, a fountain there, benches in the middle with stone shells on the centre table will leave your garden blooming even in the dull hard winter. The best thing — this stuff does not wilt away!
My garden has no place to sit
FORGET wrought iron benches: their season is over. They look so unnatural and just do not gel with the surroundings. In any case, the public parks are weeded with these iron benches. A smarter choice is to allow polished, yet crude, stone benches to flourish in your garden. Another thing, the hard heavy benches leave little scope for the thieves to pluck the stuff away. “You can garland your garden by placing single benches all along the flower beds. Or else, you can go in for a cluster of smaller stools with a centre table cut out of stone,” suggests inside-outside expert Supreet Dhiman. “The stuff is available in so many colours and sizes. You even have stools with glistering polished tops and coarse sides. In benches, you can go in for the ones available in one metre or two-metre width, depending upon the style and comfort level you desire.” The stools for making four people enjoy the bliss of the early morning cuppa mingled with some hot, juicy, filmy gossip splashed across the feature pages of newspapers can be yours for as little as Rs 5,000. Just in case you wish to go in for something more elaborate, you can pick up the cluster costing around Rs 30,000. For the table to blossom, pick up stone leaves and even shells. The artistic effect can simply be enhanced by floating some petals in the bowls. Vases, too, will do the job. Again, the price depends upon the shape, size and design. An oval or egg-shape bowl with candle holes on one edge will cost you anywhere between Rs 2,000 and Rs 10,000. Before you place the bunch of stools and table in the middle, simply prepare the ground by sprinkling gravel and pebbles all around. Also remember to have stepping-stones in place for you to walk your way to style in your own house.
I want aestheticism to flower in my yard
NO probs. Raise sophistication in your front yard by simply picking up figurines. “You can plant figurines of lovebirds, the musician lady, the thinker, the contemplator or any other artifact you like,” says Delhi-based landscape designer Vipul Maheshwari. “It's also a good idea to have a Laughing Buddha around. Don't forget a tulsi planter. It's a must not because you have the mothers-in-law and the daughters-in-law watering the pious plant together in complete harmony on all those sobbing soap operas on television, but also because it's elegant and virtuous. A stone ball, a lamp and a washbasin here and there will add to your garden's splendour. Another thing! Birdbaths and birdfeeders placed at the corners look good. Once the birds take a fancy to the stuff, the tweet-tweet and the chirp will only help soothe tired nerves.
How can bliss flow in my garden?
YOU need a fountain of delight. Oh, worry not! You do not need to scratch your head with anxious fingers thinking of the expenses and the water bill. A miniature fountain that circulates the water is all you need. “The fountain needs no plumbing as it circulates the water. It comes complete with a motor, a hose, electrical fittings and a base. All you need is a power point nearby,” says Dhiman. “Just make sure it is placed in the north-east direction.” Also associated with nature-scape experts Besten & Company, she asserts: “A fountain in the garden is always inviting and a welcome addition. The slight babble of the rippling brook the trickling water generates is comforting. Water's presence, otherwise also, enhances the general atmosphere,” she asserts. “You can also have a stream flowing from one end to another,” suggests Chandigarh-based builder Joshi. “But a stream, complete with rapids and waterfalls, is the most expensive was of watering the lawn”. So folks, welcome the Stone Age, buy the stuff and reap the benefits of what you sow!
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Double Dhamaka for Dehradun
WITH tourism as mainstay of the Uttarakhand economy, decks have been cleared for setting up of the first five star hotel in the state capital, Dehradun. In fact, the state government has given clearance for the construction of two five-stars.
While one of the hotels would be constructed by the family of Olympic gold medallist Abhinav Bindra at their farmhouse, the other would come up in Garhi area of the city. There was no five-star in Dehradun and the nearest one is in Barlowganj, Mussoorie, owned by the Jaypee Group. Since, Dehradun became the capital of Uttarakhand after the formation of the separate state in November 2000, there was a need for a five star hotel in the capital. The one in Garhi would be constructed on build operate transfer (BOT) basis by Emaar MGF, a private company that has tied up with the Inter Continental Group of Hotels, Singapore. The hotel would come up near the government hotel management institute in Garhi area. The state government had given clearance to the proposal moved by Abhinav Bindra’s father to convert their farmhouse in Mokhampur into a five star hotel. A.S. Bindra had submitted a proposal for setting up a hotel to the Khanduri government before the Beijing Olympics. However, after Abhinav won the gold medal, the state government showed a keen interest in the project and virtually arranged for no objection certificates (NOC) from various government departments. Bindra Senior had promised to gift his son the hotel on striking gold in the Beijing Olympics 2008. "The hotel would be constructed over nine acres at Bindra Farms on the Haridwar Road," confirmed Swarn Singh, who is looking after the Bindras’ businesses in Dehradun. Abhinav was also born and brought up in Dehradun and schooled in the city. "We have been conveyed that legal work for the clearance of the hotel is almost complete and now we have to submit building plan of the hotel to the Mussoorie Dehradun Development Authority," Singh said. Authority vice-chairman R. Meenakshi Sundram confirmed the development. “Once we receive the building plan and after the requisite scrutiny it will be sanctioned without any delay,” she said. On January 14, Uttarakhand tourism secretary Rakesh Sharma had convened a meeting with Bindra and officials of the various departments, including revenue, Mussoorie Dehradun Development Authority (MDDA) and district magistrate Amit Singh Negi to discuss the project. During the meeting, Sharma directed officials of different departments to speed up the NOC process. The state government has also cleared obstacles in path of establishment of the other hotel by changing the land use pattern. "We hope that with the coming up of these two hotels, tourism in Uttarakhand — particularly Dehradun — would get a boost," said Uttarakhand tourism minister Prakash Pant.
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No longer
maal-a-mall
ABOUT a year back, malls were sprouting up in Ludhiana almost on an everyday basis. Over 20 malls, shopping complexes and multiplexes were set to come up, the hottest destinations being Ferozepur Road and GT Road on the Ludhiana-Jalandhar segment. In 2007, a whopping Rs 6,000-crore investment was estimated in construction of malls over the next two years.
Fast forward to 2009: Work on over a dozen malls in Ludhiana is on hold following the global meltdown. Projects on which work is pending include Festival City on GT Road, Omaxe Mall and Omaxe Plaza on Ferozepur Road, Spirit Global Mall, Gold Souk, Wedding Souk and Silver Oak on Mall Road. Builders are not even thinking of starting construction of new projects – some have been delayed for an indefinite period and many shelved altogether. The Tribune team visited several deserted sites for malls and shopping complexes on the Jalandhar Bypass Road. Construction activity appeared to have been suspended for a long time while a number of projects slated to come up on Ferozepur road. A leading local real estate consultant, requesting anonymity, says, "Numerous major projects have been stalled. Absence of buyers, the ongoing cash crunch, lack of liquidity in the market and builders' inability to raise credit from banks are the main reasons for the delay in completion. Moreover, the inflow of money from FDI has ceased, compounding the woes of the realty sector." Sources add that several projects were dependent on NRI funding, which has dried up of late. Sanjay Sabharwal, a local real estate agent, says, "Builders are waiting for the Lok Sabha elections before they start work on pending projects. They are hoping that the new government will help bring the economy back on track. Hence, the delay in completion of projects." Not only this, even malls that did come up in the city and its vicinity in the last one year are not witnessing much growth. Most complain of no attract takers for the swanky shops. Even shops that have come up in such malls are awaiting buyers, forcing many to shut shop. When the brave opened shop
MANY malls and shopping complexes did open up in the city in the last one year, including two multiplexes on Ferozepur Road -- Westend Mall, developed by liquor baron Ponty Chadha is already a hit with Ludhianvis while MBD Neopolis Mall, being developed by the Malhotra Book Depot (MBD) group over 4.5 acres near Rajguru Nagar, is almost ready. Flamez, yet another multiplex, has come up in place of Malhar Theatre. Other projects that opened up in the last one year are JMD Govardhan Mall opposite the railway station, Elite Arcade on the Mall Road and Ansal Plaza on Ferozepur Road.
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United colours of nature
Synchronise your plants’ flowering cycles & your garden will be a riot of colour all year round. Remember, colour doesn’t come from seasonal flowers alone, give these evergreens a try! Satish Narula A GARDEN is not just about planting the place green. Similarly, a green thumb also does not mean creating a green patch. In any garden, the all-green lawn is dominant and supplemented with all green shrubs, occasionally giving a spray of colours. My definition of a garden, however, is colour, more colour, and some more colour.
Nature is supreme. It is full of beauty and we only need an eye to see and appreciate it. The seasonal cycle provides opportunities for a riot of colour in the garden over a small period of time or at the most twice or thrice in a year followed by a gap period. What is needed is judicious planning and selection of species to keep the garden in colour throughout the year. Besides planting annuals, shrubs and climbers for flowers, one could make use of nature’s benevolence by using colourful foliage plants to keep the garden ever smiling. A gardener has to be an artist and a good visualiser. Designing a garden is like painting a canvass, which in this case is a lawn. It forms the perfect green background that can be dotted with colour patches. It is, therefore, important to create the complete garden on paper first and then proceed on ground. It is also essential to make a list of plants that have a value for foliage. See the accompanying picture -- the plant is cassava, also called Manihot. The lobed leaves have a yellow variegation that almost fills the blade. The petiole — the extension joining the leaf with the stem — is pink in colour and makes a perfect match with the green and yellow. The plant does not bear flowers but do you think it needs to? Even a single plant in the garden can lighten up the space. Being deciduous, it sheds leaves during winter but we have plenty of winter annuals to lend colour at that time. A very fast growing plant, it is used at times to give temporary curtain effect. It is propagated by cutting and this is the time to do so. When we talk about coloured foliage, croton reins. There is a wide variation in foliage from sprays and spots of deep yellow, red, pink, cream or even black. The plant is suitable to be grown indoors in pots and as an outdoor shrub. Provide it a shady and protected place -- like under a tree -- as it is prone to frost damage. This is also the place that otherwise does not let any other thing grow due to shade. Crotons can be easily propagated by air layering (gooti) method. The hibiscus shrub is the favourite with most gardeners, especially after the introduction of Hawaiian hybrids that yield bold blooms with fast colours. But there is one good old white variegated form that not only bears contrasting red blooms but has ornamental serrated foliage, too. During winter, the foliage turns pink-white making it more beautiful. Hibiscus is also propagated by way of cuttings. Aphelandra is another attractive plant with coloured foliage. The plant is thought to have a passionate appeal due to its flame-like, deep yellow bloom. Its big foliage with very prominent veins makes it very attractive and it is a favourite for both indoors and outdoors. Due to the giant foliar size, the pot size has to be matching. Outdoors, this plant needs special watering care, as stress even for a few hours may make the leaves sag. Mostly, this plant is accommodated near the entrance, in between the green collection of shade loving plants. It is also propagated by cuttings. (This column appears fortnightly) The writer is a senior horticulturist and can be contacted at satishnarula@yahoo.co.in
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DLF to launch Infopark in Bhubaneswar
REAL estate giant DLF has announced launch of an Infopark in Bhubaneswar at an investment of Rs 1,000 crore as the Orissa Government hoped the city would turn into a favoured destination of global IT players.
The IT SEZ would play a key role in attracting global IT giants to set up their operations in Bhubaneswar, chief minister Naveen Patnaik said, laying the foundation stone of DLF Infopark, which would come up in phases over 25 acre land and generate about 40,000 direct and indirect employment opportunities. Stating that employment opportunities had increased despite the economic slowdown, Patnaik said the new IT SEZ which would is coming up after TCS Development Centre, would strengthen the required infrastructure in the IT sector. A progressive policy has recently been unveiled by the state government for promoting small and medium enterprises, the chief minister said. The DLF project involving an investment of Rs 1000 crore would have ultra modern integrated facilities, modern workspace to companies along with service apartments, a luxury hotel and recreational facilities. The overall development would be spread over 54 acres, DLF officials said adding the Infopark would be followed by projects in other cities of Orissa.
— PTI
REAL estate developer DLF has withdrawn from the Rs 5,000-crore Dankuni township project near the metropolis citing the current economic recession. The company has also asked the West Bengal government to return Rs 270 crore deposited with it. Principal secretary Subesh Das, confirmed the develop-ment after a cabinet sub-committee meeting on industry in Kolkata. He said DLF would not be given partial stake in the project when it was set up by a different company. NKID Pvt Limited, a SPV floated by Indonesia's Salim group, Universal Success and Unitech, has expressed interest to undertake the project jointly with KMDA.
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Buying, selling property just got tougher
THE Government of India has advised state governments to be extra vigilant in matters of acquisition and transfer of immovable property in India by individuals residing outside India.
It has asked governments to satisfy themselves about the eligibility of individuals under the Foreign Exchange Management Act (FEMA) before registering a sale or purchase of immovable property in India. Relevant travel documents and the nature of visa may also be verified before registering such sale or purchase. Authorities may even consider reviewing registration of sale or purchase already made to determine its compliance with legal requirements. Persons acquiring immovable property in India will also have to fulfill requirements prescribed by the state authorities. The directions come after large-scale illegal purchase of immovable property in some parts of the country -- particularly Goa – by foreign nationals. Many organisations and social groups had also represented before the Central Government, expressing serious concern in the regard. It was also observed that foreign nationals coming to India and staying beyond 182 days on a tourist or other visa meant for a certain period were illegally acquiring immovable property in India in violation of the FEMA rules and regulations. A foreign company that has established a branch office or other place of business in India under the provisions of foreign exchange management regulations, 2000, can acquire immovable property in India, which is necessary for or incidental to carrying on such activity subject to stipulated conditions. Apart from above, a foreign national residing in India for more than 182 days during the course of the preceding financial year for taking up employment or carrying on a business, vocation or for any other purpose indicating his intention to stay for an uncertain period can acquire immovable property in India, as he would be a ‘person resident in India’ as per section 2(v) of FEMA, 1999. To be treated as a person resident in India under FEMA, a person has not only to satisfy the condition of the period of stay (more than 182 days during the course of preceding financial year) but also his purpose of stay as well as the type of Indian visa granted to him to clearly indicate the intention to stay in India for an uncertain period. To be eligible, the intention of stay has to be unambiguously established with supporting documentation, including visa. As per provisions of foreign exchange management regulation, an Indian citizen residing outside India and a person of Indian origin residing outside India may acquire immovable property in India other than agricultural land, plantation or farmhouse.
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Only principal amount counts
— Harikesh A. The deduction allowable under section 80C of the Income-tax Act 1961 (the Act) is limited to Rs 1 lakh for an assessment year. According to provisions of the said section, an assessee can claim deduction for repayment made towards the loan raised for the construction or the acquisition of a residential house within the aforesaid limit of Rs 1 lakh. You can, thus, claim a deduction of Rs 80,000 against your total income, being the amount paid towards the repayment of principal amount of the loan. The amount of interest paid on such a loan is allowable as deduction under section 24 of the Act against income from house property.
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Renovation: Upper limit Rs 30,000
Q. I have borrowed Rs 4 lakh for re-construction of my house. I intend letting out the house. Will the interest paid/payable for such loan be allowed as a deduction against the income arising from such property?
— Ashish Gupta A. Section 24 of the Act provides for the deduction of interest paid on capital borrowed for acquiring, constructing, or repairing of the house property. However, the deduction allowable for reconstruction, repairs or renewable of a house property is limited to Rs 30,000. Accordingly, in your case a maximum deduction allowable would be Rs 30,000 against the income from house property.
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No tax if...
— C.P. Gupta A. According to the provisions of section 23(2)(b) of the Act, the income from property that cannot be occupied owing to the employment of the assessee at a place other than the place where house is situated would be exempt from tax provided the following conditions are satisfied:
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He has to reside at that other place in a building not owned by him. n
The house property situated at any other place or part thereof is not actually let out during whole or any part of the previous year. n
No other benefit is derived from the above property by the owner. In case you satisfy the above conditions, the income of the house property situated at Chandigarh would not be taxable.
Q. I own some agricultural land in a village, which I have been using for agricultural purposes. It is likely to be acquired by the state government, as intentions in this regard have already been notified. If the same is acquired, what would be the position of taxability thereof? — Davender Singh A. The capital gain arising on the compulsory acquisition of the land would be exempt from tax in case: n
the land is situated within the municipal limits or is situated within such distance of the municipal limit as has been notified by the Government of India. n
the land during the period of two years immediately preceding the date of transfer was being used for agricultural purposes by an individual or his parents. n
the land has been compulsorily acquired under any law and the consideration thereof is to be determined or approved by the Central Government or the Reserve Bank of India. n
capital gain arises from the compensation or consideration for such acquisition of land is received by the assessee on or after April 1, 2004. The compensation or consideration includes the enhanced compensation or enhanced consideration also. In case you comply with the above requirement, the capital gain arising on the acquisition of the agricultural land would be exempt from tax.
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To save CGT, keep plot for three years
If I sell this plot now, what would be the tax consideration? I intend to buy a house immediately after selling this plot. Would this sale of plot result in capital gain and if yes, whether long-term or short-term and how can I get exemption? I was also told that I have to keep the plot for another three years to save on tax. Is it so? — Seema Saxena A. Your queries are replied hereunder: n The facts given in the query clearly indicate that the allotment has been confirmed in April 2008. The income, if any, arising on sale of the plot in the year 2009 would be treated as a short-term capital gain for the purpose of levy of capital gains tax on such income. n You can buy a residential house after selling the said plot but the benefit of exemption from the taxability of capital gains tax would not be available to you. n As indicated in (i) above, the sale of plot would attract the levy of capital gains tax and the capital gain would be treated as short-term capital gain. n You can get an exemption from the taxability of capital gains if the plot is retained for a period of three years from the date of allotment provided possession thereof is not taken within the period of these three years. In case the possession is taken, the period of three years would be counted from the date of the possession of the plot.
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WITH tourism as mainstay of the Uttarakhand economy, decks have been cleared for setting up of the first five star hotel in the state capital, Dehradun. In fact, the state government has given clearance for the construction of two five-stars.
Synchronise your plants’ flowering cycles & your garden will be a riot of colour all year round. Remember, colour doesn’t come from seasonal flowers alone, give these evergreens a try!
A GARDEN is not just about planting the place green. Similarly, a green thumb also does not mean creating a green patch. In any garden, the all-green lawn is dominant and supplemented with all green shrubs, occasionally giving a spray of colours. My definition of a garden, however, is
colour, more colour, and some more colour.
REAL estate giant DLF has announced launch of an Infopark in Bhubaneswar at an investment of Rs 1,000 crore as the Orissa Government hoped the city would turn into a favoured destination of global IT players.
The IT SEZ would play a key role in attracting global IT giants to set up their operations in
Bhubaneswar, chief minister Naveen Patnaik said, laying the foundation stone of DLF
Infopark, which would come up in phases over 25 acre land and generate about 40,000 direct and indirect employment opportunities.
THE Government of India has advised state governments to be extra vigilant in matters of acquisition and transfer of immovable property in India by individuals residing outside India.
It has asked governments to satisfy themselves about the eligibility of individuals under the Foreign Exchange Management Act
(FEMA) before registering a sale or purchase of immovable property in India.
Q. I took a loan house-building advance of Rs 4.5 lakh in December 2005 through the Haryana education department. My monthly deduction is Rs 9,000, a total of Rs 1.08 lakh per annum. Of this, principal is Rs 80,000 and interest Rs 28,000. Can I show the total deduction in interest in the Rs 1.5 lakh?
Q. I have a residential house in Chandigarh that I am not able to occupy because of my employment at Gurgaon. The house is lying vacant and I have kept a caretaker to look after the house due. Is the income from such property taxable?
Q. I was allotted a plot in Sector 79, Mohali, by the Punjab Urban Planning and Development Authority in 2001. After the draw, we were sent a letter of intent informing us about the draw in our favour and asking for a deposit if around Rs 1 lakh. The money was deposited well in time. Immediately after the draw, there was news of litigation of the same land. In April 2008 we got a letter confirming the allotment and asking for the installment, due in the month of April 2009.