TREND MILL
Painting the town red, green & yellow!

Houses in Jammu’s Bhaitindi Colony.

LEAF green, sunshine yellow, earthy tones of brick, rich hues of copper, the unmistakable red of the falling leaves of the stately Chinar, the vermilion of Kashmiri chillies drying on windowsills in autumn… Well, it’s not the fashionista’s colour palette for this summer but the exteriors of many houses in Jammu!

Having left the myriad colours of bountiful nature behind in the Valley due to government jobs, business or militancy, of Kashmiri Pandits and Muslims are going all out to recreate the colours of their surroundings in the City of Temples. Consciously or unconsciously, they are using a slew of bright and unusual colours for the exteriors of their dream homes. The multi-hued houses not only stand apart, but have also become the rage among Jammuites, till now used to plain white, off white or cream exteriors!

It all began in the Bhaitindi area, home to Farooq Abdullah and other top ministers and Kashmiri Muslim leaders, who live six months in Jammu and Srinagar each. Scores of new houses belonging to Kashmiri Muslims that have come up in Bhaitindi display an architecture that is lavish, tasteful and indulgent. Double storey bungalows and villas in bright and eye-catching colours are a common sight. Similar is the case in Jammu’s Janipur Colony.

Explains Suresh Raina, a Kashmiri Pandit who has made Janipur Colony home now, “You won’t find many brightly painted houses in the Valley. Nature has so many colours there that our colours look monochromatic against the splendour of the Valley.” But when he migrated to Jammu with his family, he began to miss the colours of Kashmir. “I wanted to see the same colours every day but could not. The second best way was to repaint our home. It was not a conscious effort but something that happened quite naturally,” he tells.

The trend has caught the fancy of Jammuites in Channi Himmat and Trikuta Nagar as well. Bright paints are jazzing up walls, parapets, slopes and even windows . Jammu-based architect Sunil Nagari confirms the trend. “We get more and more clients asking for bright colours on exterior walls. They want orange, red, yellow and blue. As a professionally, I prefer light colours for exteriors like cream and grey, but then the client is always right!”

And why the trend? “Houses that are shown on TV are mostly brightly painted. That could be one reason and the other could be the Kashmiri influence. A Kashmiri client and his family once told me that he wanted his house to stand out in the neighbourhood and was very keen on an unusual colour. His children thought it looked very cool,” he smiles.

In some houses, only the frontage is painted with such colours. Amidst the concrete jungle of white, cream and grey, the bright houses are a feast to the eye and dazzle the city’s skyline. Architect Ajay Mengi says that people are playing with colour a lot more now. “Earlier, colours were restricted to the interiors. For exteriors, all homeowners wanted light, evergreen and low maintenance colours. Some even used stones, marble, butch work and brick tiles so that the house needed practically no painting, but after some time the houses start looking boring. If you use colour, you can give your house a new look every time you repaint.”

What an idea, but how does one go about it? “It is not simple,” says Mengi. The choice of colour can make or mar a building. To begin with we decide on what portions of the exterior to highlight — blocks, windows or mouldings. Bright colour building are prominent, appear large and closer to the eye. You see more of the building than the details,” he says.

Brij Bhushan Gupta, owner of a paint shop in Channi Himmat, says exterior paints of all colours are in great demand. "Of the ten customers who walk into my shop on a given day, eight opt for bright colours. Paint companies like Nerolac and Asian Paints have a very detailed shade card but if you want more, with the help of the computer you can get thousands of shades deep and pale!” he says.

“Colour rich exteriors make a lasting impression. Two or more colours used vertically across the facade give an illusion of height. If used horizontal, it lends an illusion of width to the structure. To highlight the best feature of the house, use another colour,” says Gupta.

Multi-colour houses are more weather proof and, therefore, low maintenance, says Ayaz Khateeb, an officer with the agriculture department. “Off white, soft white, bright white or ivory do not last beyond one monsoon whereas colours like green, red, blue, yellow or pink continue to look fresh for longer. In fact, after I got my house painted green, I realised dampness during the rains also reduced,” he says.

Balle balle Jalandhar to Karnal!
Six-laning of GT Road ups land prices along NH-1
Kanchan Vasdev

SIX-LANING of National Highway No.1 from Jalandhar to Karnal has jacked up prices of land along its route, particularly in Ludhiana, providing a much-needed breather for the realty sector reeling under the meltdown.

As soon as the project to widen the road to meet international standards began two months ago, residents of villages and cities who have land touching the road hit a jackpot. For the last few days their phones have not stopped ringing. Most queries come from investors who want to invest thinking this is the best time to invest, as prices were already low due to recession.

As the queries have increased, property owners do not want to settle for a compromise, as the sun seems to be shining bright on them. ‘‘I have received a number of phone calls in the last 15 days. Real estate agents, too, have suddenly got active. For the time being, I am holding on to my land. I know that once a smooth road is laid many investors would flock to open commercial establishments alongside. Many multinational food chains would also be coming,’’ said Baldeep Singh, a property owner near Bija village on NH-1. He said landowners had were demanding Rs 1.25 crore an acre against the current price of Rs 1.07 crore. "I know it is going to be much more once the road project is completed,’’ he said.

The best deals are open for land near Hardy's World in Ludhiana, a few kilometres ahead of Sutlej river. It is attracting queries between Rs 5 crore and Rs 5.5 crore an acre! Realty pundits say an acre could fetch as much as Rs 8 crore very soon! The mantra is to wait for the time being and not hurry up, they advise.

‘‘Wherever a road has been improved, property gets a boost. Footfall increases on the road and many commercial establishments like shopping plazas near cities, hotels, food chains and other commercial establishments come up. For this, huge chunks of land are required and it becomes a merry time for property owners. These become real cases of windfall gains,’’ said Parminder Singh, a real estate expert. ‘‘Renewed interest is being seen in land along this road (NH-1). We are hoping that within a few months the prices would go up manifold,’’ he said. Realty dealers say land prices are touching Rs 2.5 crore in the two-kilometre stretch from Doraha towards Sahnewal. From Manji Sahib gurdwara, an acre can set you back by about Rs 2 crore.

Residents of Phillaur, too, have struck gold. There, prices of an acre have risen from Rs 1 crore to Rs 1.25 crore. ‘‘For the last one year, we have been waiting for buyers, found none and reduced prices. Still, it was impossible to find a buyer. We hope the six-laning helps us,’’ said a farmer.

What the colours say

Blue: Natural and easygoing, you prefer a calm and restful environment at home. Blue signifies water and sky, so you are always attracted towards outdoors.

Scheme: Blue goes very well with cool and neutral colours. Sea greens, mauves, whites and greys complement blue. Dark blues can be teamed up with light shades of green, grey and mauve while for frosty blues, go for darker shades of greens and greys.

Green: You love nature and like working in a peaceful environment. At home you want everything to be in order and you expect peace everywhere. You like making friends and inviting them to your place.

Scheme: Scientifically, green is a neutral colour and can be used with both warm and cool colours. Looks best with blues for a cool look and bold yellows for a warmer look. Whites can also be used for elegance.

Red: Stimulating, enthusiastic, bold are some of your prominent characteristics. You don’t mind trying out new things. You have the capability to pursue original ideas with vigour. 

Scheme: Red is a very stimulating colour and is generally used to highlight one wall. But if your house is small, team up red with a cream. You can also try out very trendy orange to team up with peach. Orange, peach and white create a great peppy combination.

Yellow: You are known as spontaneous, energetic and fun loving. You are creative and always want to be different. You are open to try out new things and make them popular.

Scheme: Yellow and orange create a very warm effect while sea green and yellow make the room look cool yet energetic. Combine cool colours like green and blue with warm brown, yellow and red.

Mauve: This is cool color and signifies beauty and prosperity. You want to relax and appreciate the gifts of Mother Nature.

Scheme: Mauve can be used to create different ambience. If your house is small, silky lilacs are recommended instead of dark mauve, although you can use dark mauve on one of the walls to highlight it. Team this up with a lighter shade — choose from pale greens, sky blues, elegant grays or rich creams.

Orange: Orange signifies fire and vigour. You are enthusiastic and not afraid of challenges. You have the determination to take things head on. You want to excel in life. You enjoy limelight.

Scheme: Orange is excellent to highlight a particular section. It livens up the exterior and gives a warm touch. Orange works well with white, creams, brown and yellow. Peach or light orange can be tried with bold yellow for an attractive look. For a slightly calmer look, use peach and cream together.

Courtesy Nerolac Paints

Tax tips
Wealth tax 
The long & short of it
S.C. Vasudeva

Q. The Finance Minister in his budget speech stated that the wealth-tax limit is being raised from Rs 15 lakh to Rs 30 lakh. What is meant by the wealth-tax limit and wealth-tax is payable by whom. Also please explain what is covered for charging of wealth-tax.

— Bal Krishan

A. Wealth-tax is charged only on individuals, Hindu Undivided Families and companies. The wealth-tax for assessment year 2009-10 is chargeable if the net wealth of an assessee exceeds Rs 15 lakh @1 per cent plus applicable surcharge and education cess. The term net wealth means taxable wealth. It represents the excess of assets over debts that are owed by the assessee on the valuation date and have been incurred in relation to those assets that are included in the net wealth of the assessee. The Finance Minister has been proposed in the Finance Bill 2009 that the above limit of Rs 15 lakh would be raised to Rs 30 lakh. The following assets are covered under section 2(ea) of the Wealth-tax Act 1957 for the purposes of levy of Wealth-tax.

Any guest house; residential house; commercial property; and/or farm house situated within 25 kilometres from the local limits of any municipality or a cantonment board; but excluding:

— a house meant exclusively for residential purposes and which is allotted by a company to an employee or an officer or a director who is in whole-time employment, having gross annual salary of less than Rs.5,00,000,

— any residential house forming part of stock-in-trade,

— any house for commercial purposes which forms part of stock-in-trade.

— Any house which is occupied by the assessee for the purposes of any business or profession carried on by him,

— Any residential property which has been let-out for a minimum period of 300 days in the previous year; and

— Any property in the nature of commercial establishments or complexes;

Motor cars, other than those used in assessee’s business of giving cars on hire or held as stock-in-trade;

Jewellery, bullion, and furniture, utensils or any other article made wholly partly of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, other than those held as stock-in-trade by the assessee;

Yachts, boats and aircrafts, other than those used by the assessee for commercial purposes;

Urban land, being land situated in any area, within the jurisdiction of a municipality or a cantonment board which has a population of not less than 10,000; or within 8 kilometres from the local limits of such municipality or a cantonment board, as the Central Government may notify except the following urban land:-

— land on which construction of a building is not permissible under any law or the land on which building is constructed with the approval of the appropriate authority,

— any unused land held by the assessee for industrial purposes for a period of two years from the date of its acquisition by him, and

— any land held by the assessee as stock-in-trade for a period of ten years from the date of its acquisition by him;

Cash in hand, held in excess of Rs.50,000/-, in case of individuals and Hindu Undivided Families and in the case of other persons any amount not recorded in the books of account.

It may be added that there are exemptions in respect of certain assets which are contained in section 5 of the Wealth-tax Act 1957. One of such exemptions is one house or part of a house or a plot of land not exceeding 500 sq. meters belonging to an individual or a HUF. The above definition of assets being an inclusive one, other assets such as shares, debentures are not exigible to Wealth-tax. 

Deduction allowable only to house owner

Q. I have purchased a house in my name. The loan raised from the bank for its renovation and extension is in the name of my son (a major) having independent income and myself. Monthly repayment of loan installment is being made from the joint account in the name of my son and myself. Can my son claim income tax rebate for the principal and interest paid on the loan?

— D.R. Sharma

A. Section 80C of the Income-tax Act 1961 (the Act) allows an assessee to claim a deduction for the amount paid toward the repayment of loan borrowed from specified sources for the construction of a residential house. The deduction is allowable to an owner of the house. Such deduction is covered within the overall limit of Rs.1 lakh specified by the aforesaid section. Since your son is not an owner of the house, it would not be possible for him to claim the deduction in respect of the amount paid towards the repayment of the loan.

The income from house property is taxable in the hands of owner of the house and the deduction for interest payable in respect of the amount borrowed for the construction of the house permissible under section 24 of the Act, can thus be claimed by you only. Your son would not be entitled to claim the deduction for interest payable in respect of the amount borrowed for the construction of a residential house. 

Rental arrears taxable in year of receipt 

Q. I have let out a residential property to a person who did not make the payment of rent. The matter was taken to court and it took almost ten years to get the house vacated. The person who had occupied the property on the basis of the court order has paid the arrears of about Rs 5 lakh in this year. Am I liable to pay tax on such arrears?— 

Durga Prasad

A. Section 25B of the Act provides that in case the tax payer has let out a property to a tenant and has received any amount by way of arrears of rent from the said property which has not been charged to Income-tax in any of the previous year, the amount so received shall be deemed to be the income chargeable under the head “income from house property”. The same would be taxable in the year in which it is received. I presume that the income now received by you had not been declared in the years for which the same was due. I may further add that the amount of arrears received would become taxable in the hand of the recipient even if he is not the owner of the house in the year in which the same is received.

Q. I intend gifting a flat purchased in Gurgaon to my married daughter. What would be tax liability on such a transaction?

— Jayant

A. The Finance Bill proposes to amend section 56 of the Act w.e.f. October 1, 2009 so as to provide that the value of any property received without consideration or for inadequate consideration shall be included in the computation of the total income of the recipient. However, the proposed amendment would not be applicable to a gift made to a relative. The term ‘relative’ as defined in section 56 of the Act includes any lineal ascendant or descendant of the recipient. Accordingly, the above provisions would not be applicable to a gift made by a father to his daughter. There would thus be no gift tax or income-tax liability for gift of flat made to your daughter, even if the same is made after October 1, 2009.

Mumbai most preferred for investing in property

THE country's financial capital Mumbai ranked as the most preferred destination for investing in properties, while Chennai has displaced Bangalore in the South, a survey conducted by an online portal said. The survey, "Trend in residential space across top cities in the current scenario" ranked Mumbai as the most preferred destination to invest in property while in south, Chennai was the first place for property investments, overtaking Bangalore.

Cities like Patna, Nashik, Tiruchirapalli and Madurai have also become favourite destinations for property investments, the survey said. The survey received over 3,000 respondents and most of them showed interested in buying residential property. It said 60 per cent of respondents felt interest rates for home loan would come down further in the coming months, while 40 per cent evinced interests on properties with an area between 500 to 1,000 square feet.

As many as 50 per cent respondents were looking for properties for their personal use rather than just buying property for investment. Moreover, buyers aspired to services like water, security, connectivity by public transport, parking space over other lifestyle features that include gym, indoor game facilities, and swimming pool.  

Over 3,000 people from the metros and other cities, including Pune, Thane, Coimbatore, Ahmedabad and Vadodara participated in the survey.

Commenting on the survey findings, Murugavel Janakiraman Founder & CEO Consim Info remarked, “Market sentiments are reviving and people are willing to invest. This could be owing to a stable government and the price correction factor. Based on our survey, more than 60% of the customers are looking at buying residential property in the next 6 months. They also are expecting a lowering of interest rates on home loans.” — PTI

REALTY Bytes
Realty April-June net seen slumping as sales dip

MID-CAP real estate developers are expected to show a slump in sales by half to as much as 90 percent in the June quarter, as home buyers stay clear of purchases, according to a poll of brokerages.

Margins are also seen squeezed as many launch cheaper housing to boost unit purchases, but the firms are expected to show a fall in their bottomline by at least 60 percent, or plunge to losses during the quarter over a year-ago, according to the poll.

"Mid-income is boosting demand. There is a huge gap in supply-demand." Shailesh Kanani, analyst at Angel Broking said. "Margins (are) likely to come under pressure due to change in product mix," Macquarie Research said. "Sales expected to drop significantly year-on-year due to a slowdown in the physical property market."

Besides launching lower-cost housing, builders have tried to reschedule loan repayments and raise funds through share placements with institutional buyers in the first half of 2009. "Profit after tax (is) set to improve sequentially, and in the quarters ahead, owing to balance sheet deleveraging," Religare Hichens Harrison said in a report.

"Going ahead, we expect a build-up of momentum in launches in the affordable housing segment," a report by Edelweiss Securities said. "General confidence in the economy and affordability will be the key demand determinants over the next one year," according to the Edelweiss report. Commercial demand, which helps builders' expand, should revive by FY11, Angel's Kanani said. — Reuters

GROUND REALTY
Fountain of Delight

Always wanted a fountain in your garden but thought it meant too much work and money? Fret not, writes JAGVIR GOYAL. Technology has made it possible for a fountain to be fitted just about anywhere

SINCE ages, fountains have fascinated. They have made even the most serious of stop and watch the playful movement of water, enjoy the rhythmic dancing of lights to the pulsating music, feel the light spray on the face, extend a hand to have a feel of water and forget all their worries for a few moments. At such times, the curiosity to know the technology behind these beautiful creations has often crossed many-a-minds. At the same time, an unsaid appreciation for the unknown craftsmen behind these things-of-beauty has also arisen in the hearts.

All structures — dams or dockyards, buildings or bridges, towers or tunnels, spillways or super-passages, planetariums or auditoriums — have a serious purpose to serve. Fountains, however, are an exception. These are created merely to beautify a place or to bring soothing pleasure to onlookers. Yet their spell-binding spectacle makes people develop an emotional attachment with them. An exhibition of such a sentiment was witnessed a few years back in Patiala when city dwellers had strongly opposed the civic administration’s proposal to dismantle the Mall Road fountain that was hindering the smooth flow of traffic. Ultimately, the solution found was to install traffic lights by trimming the fountain structure but keeping the fountain in place.

Every house owner holds a desire to have a fountain in his garden. Maintenance fears, lack of space or the expenditure involved often force him to retreat and the dream remains unfulfilled. Few know that fountain technology has now attained such varying dimensions that it can be fitted in any space, howsoever little. Here are a few guidelines on providing a fountain in your front yard or lawn:

The basics: Basically, a fountain needs to have a pool to collect water, a pump to discharge or re-circulate the collected water and a structure with a few nozzles through which the water could be run to create water effects and fall back into the pool for recirculation. Instead of raising or creating a structure, a nozzle network can be laid in the pool itself to create jets. Light effects or sound effects are the additional options.

The pool: A pool may be constructed in concrete or masonry and lined with tiny glass mosaic tiles or glazed tiles to make it water-tight. Small size pools may be built in glass reinforced plastic (GRP) also. Stone, marble, sandstone, ceramics are other materials used for pool structure. Concrete gets preference over others as it is a leak proof material and can be lined with any material of choice. So prefer to choose concrete pool and line it with the tiles of desired color. Otherwise, choose readymade fountains of marble or sandstone or ceramics. A great choice is available.

The pump: The pump used to re-circulate water can be installed in a sump or in the pool itself. In case it is installed in the pool, it should be kept invisible by creating some structure of pebbles around it or by erecting a marble statue near it. Prefer to install it in a sump where water could be collected and then either discharged or re-circulated. Prefer to choose a water proof, submersible pump. These days, solar pumps of 20 W to 1 hp are also available to run the fountains. These can save electricity. A 1.5 hp, mono block pump working on single phase, 2200 volt, supply supplied through a submersible cable can well run a fountain.

The pipes: The fountain needs an inlet pipe to draw water in the sump or pool for its further circulation by the pump. A discharge pipe is required to drain out the water as and when the pool and the sump are to be cleaned. The water may also need a change after sometime. Then also, the drainage pipe will come under use. In addition, a pipe network between pump and nozzles is required to circulate water.

Water effects: Watch a demo and choose the water effects you want. The water effects may be of many types such as flowering, high cascade, ball shaped, finger thin, dancing, foaming, aerating, dome-shaped, column shaped, ring shaped, arch shaped, butter fly shaped, segmental or sky-scrapping jet type. Each type of effect can be created by using a different type of nozzle.

The nozzles: The nozzles are designed to give precise effects assigned to them. Choose nozzles that are made of corrosion free metals and given full epoxy coatings for longer life. Avoid plastic nozzles because of their little durability. Prefer brass, gunmetal, bronze or aluminum-alloy nozzles. Further see that the nozzles are provided with ball joints to allow their adjustment and to create the desired effect accurately.

Light effects: A fountain presents a joyous picture when light effects are added to it. It is easy to provide colorful lights in a fountain, however small in size it may be. An octagonal pool having a side length of about 3 feet can be well accommodated within an overall square area of only 6.5 feet X 6.5 feet and it can well accommodate even a musical fountain having as many as 20 lights.

Lights: Choose water proof lights or specially designed underwater lights. The lights are mounted on stainless steel or hot dip GI or epoxy coated brackets designed to hold the lights and to save them against theft. These lights are provided with reflectors to give better illumination. The wattage may vary from 60W to even 1000W. The lights have a clamp ring, colored glass and brass cable glands. Colored glass consists of two layers of toughened glass with a color filter sandwiched between them. Choose doubly insulated cables to prevent any leakage of current. Note that these lights are not suitable for use under dry conditions but should be in fully or partially submerged conditions for their longer life.

Electric control panel: Prefer to have a small electric control panel created to run the submersible pump and the lighting system. It can be custom built. Make it waterproof by using powder coated cabin. The control panel can have the incoming MCB, start push button, stop push button, fuses, overload relay, and an indicating lamp in it. An overload fuse and an earthing station should also form part of the Lighting system.

Sound system: An audio system can be used in large fountains to create sound effects. Sound effects are created through electronic controllers that can interpret all kinds of music. These are contained along with required electrical panels in a separate cabinet installed near the fountains. Speakers are located anywhere around as per site requirement. Shooting jets automatically synchronize themselves with the rhythm and the flow of music. The fountain water can be made to dance to Rock or classical, folk or jazz, pop or popular film music. Addition of sound effects convert the fountains from mere hydraulic structures to highly attractive entertainment sources.

New additions: Fountain makers are coming up with new developments and a lot of excitement seems to be in store. Mist effects lit by bright colours and generating an exalted state of delight are now being added. Soon, the spectacular and mesmerizing laser shows, now limited to big fountains, may land up in home fountains also.

Maintenance: Regular cleaning of the nozzles against clogging is most important to enjoy the fountain in full bloom. Occasional checking of electrical fittings and panel is also important. Water being circulated should be discharged and replaced with new quantity after a few days. The sump should be cleaned once in ten days.

More tips will follow. Till then, happy building!

This column appears fortnightly. The writer is deputy chief engineer, civil, PSEB.

He can be reached at www.jagvirgoyal.com 

Delhi most expensive Indian city for expats

THE national capital has become the most expensive city in the country for expatriates, even as depreciation of rupee against the US dollar has made Indian metropolises compared to other world cities cheaper for foreign assignees to reside in, a Mercer survey says.

According to the global HR consultancy Mercer's Worldwide Cost of Living Survey 2009, New Delhi is the most expensive location for expatriates to reside in, ahead of Mumbai, Bangalore and Chennai. However, all Indian cities have witnessed a decline in their rankings in terms of cost of living this year with New Delhi falling to the 65th position from 55th place in last year's survey, in the global list of 143 cities.

Mumbai, which had been the most expensive city for expats in India, has fallen to the 66th position from 48th in the 2008 survey. Further, Bangalore has dropped to 133 position from the 118 rank in last year's survey, while Chennai is the cheapest Indian city at 135 rank falling from 117 position last year.

"The decline in the ranking of all Indian cities is due to the devaluation of the rupee against most major world currencies... the rupee's loss of value may serve to attract globally mobile executives to business centres such as New Delhi, Mumbai and Bangalore," Mercer information product solutions' India head of global mobility Rupam Mishra said. "The difference in cost of living can be significant, particularly for those executives with families," Mishra added.

Mercer's survey covers 143 cities across six continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is a comprehensive cost of living survey and is used to help multinational companies and governments determine cost of living allowances for their expatriate employees.

Overall, a significant reshuffle of cities can be observed in this year's ranking, mainly due to considerable currency fluctuations worldwide, the survey said. The majority of European cities moved down in the ranking with Warsaw experiencing the most dramatic change, plummeting 78 places from 35th to 113th. London and Oslo, both previously at the top 10, dropped 13 and 10 places, respectively.

— PTI

Globally speaking...

TOKYO moved ahead of Moscow as the most expensive city for expatriates in the world and is followed by another Japanese city Osaka at the second place. Moscow comes at the third place in the global ranking and is followed by Switzerland's Geneva (4th), Hong Kong (5th), Zurich (6th), Denmark's Copenhagen (7th), New York city (8th place), China's Beijing (9th) and Singapore (10th).