TREND MILL
Tubful of pleasure
A bathtub is no longer a filmy funda! As bathrooms get increasingly opulent, tubs and jacuzzis are almost a must, writes SAURABH MALIK. But be careful to know what you want before you go in for one. The choices are many!

Just about two decades ago, a pretty young thing — moderately obscure under the wobbly surface of rose petals floating gently on the shallow waters of pleasure in a bathtub — was only for bubbly advertisements. For, your own bathroom was small and dark, bare minimum cash pumped in by your dad or grandfather. Floor and walls of chips with a shower having blocked holes was all there was!

Of course, there was hardly any room for the mermaid to gently massage her out-in-the-open back with a loofah held firmly in tender translucent fingers, like in the ad on the small screen showing smaller serials.

Sitting back, you remember the only time you sunk into luxury. It was during a visit to the five-star hotel in Delhi for your cousin’s wedding.

Since then, you have just been planning to let financial resources flow into the bathroom for equipping it with a tub.

Well, it’s never too late. As 24x7 lifestyle channels bring out the craving in you, the sanitary and plumbing warehouses are saturated with bathtubs for you to dive deep into lavishness after carrying out little modifications.

“Before you take the plunge, just go deep into your requirements,” recommends inside-outside expert Savita Talwar. “What exactly do you want: A single person bathtub or a tub for two? It all depends upon the area and the type of the bathroom. A solo bath sounds good, if it is for smaller bathroom.”

The solo tub requires less water to fill, saves on utility bills and is easy to maintain. “Two person tubs are good for the master bath. They require more water and are not practical, unless these are to be used often by two people. Then, of course, the water does not require a change,” she asserts.

And then you have whirlpool bathtubs and air jet tubs. Just in case you do not know, air and water gush through a network of jets for a massaging effect in the whirlpool tubs. Air jet tubs push air for bubbling purposes.

Whirlpool tubs, as of now, top popularity charts. You know them by their popular names of massage-cum-bathtubs or jacuzzis. The basic model has body jets, a tub filler and mixer. Go in for the costliest ones and you get features like mini spa. Some of the imported ones even have a television screen, a DVD player, mini refrigerator and wine glass holder. The control panel is feather-touch and there are pillows for you to rest your head on as the water swirls all over.

Before picking one up, you should have a look at the manual. Is it self-cleaning? Where is the motor located? What are the noise levels? Is it shock proof?

Also see the size you want. If it is not circular or oval, the dimensions usually run between 55 inches and 72 inches in length; the width depends on the tub type. A five-foot tub is still universally popular size, otherwise. Colour is another issue. Pick one that goes with the wall paint or else repaint the wall to suit the tub! White continues to be the hot favourite.

Don’t forget the cost factor! “Tubs charged with technology are expensive,” says another interior designer Manisha Sharma. “A whirlpool tub can cost you anywhere between Rs 40,000 and Rs 2 lakh. Before you splatter away your money, be sure you plan to avail the benefits of the technology. Else, go in for free-standing claw foot bathtubs, corner bathtubs, alcove bathtubs and recessed bathtubs.”

You even have walk-in bathtubs, useful if you have specials needs or mobility problems. It essentially has an easy access door with entry close to the floor. Once in, the door seals for you to enjoy!

Material? You can take home a tub made of acrylic or fiberglass. It’s light, durable and easy to install. This is not all. For all you wood lovers, wood finish bathtubs are also available in the market. Alternatives include tubs made of steel or cast iron. So folks, happy bathing!

Tried & tested!

You can go in for Western style shallow and long bathtubs in which the bather lies down or eastern ones in which the bather sits up. Short and deep, they are known as “ofuro” in Japan. The concept of bathtubs is older than you can imagine. Early plumbing systems go back to 3300 BC, evident from copper water pipes beneath a palace in Indus Valley.

Evidence of the first personal sized bathtub was found on the Isle of Crete where a five-foot long hardened pottery pedestal tub was found. It is considered the "forefather of the classic 19th century claw foot tub".

Available information from the Internet suggests that around 500 BC, Roman citizens were encouraged to bathe daily in one of the many public baths. The Romans used marble for the tubs, lead and bronze for pipes, and created a complex sewage system for sanitation purposes. In the latter half of the 20th century, the popular claw foot tub gave way to a built-in tub. The Crane Company introduced colored bathroom fixtures to the US market in 1928.

Decongesting Shimla, Solan
End of a vision?
Himachal’s first satellite township stands denotified after govt fails to acquire land in stipulated time
Ambika Sharma

With the Himachal Pradesh Housing and Urban Development Authority (HIMUDA) failing to acquire requisite land in stipulated time, the state’s first satellite township project slated to come up at Waknaghat near Shimla has been denotified. This has put to an end a nearly six-year exercise, touted to decongest Shimla and Solan like “never before” by housing around 30,000 persons.

Roughly 5,227 bighas had been identified by the Himachal Pradesh Housing and Urban Development Authority for the project. Of this, barely 1,692 bighas belonged to the government, 3,018 was under private ownership and another 517 bighas had been set aside for IT-based industry. While Authority officials admitted to an in-principle approval from the Department of Industries for its use, all chief ministers have been announcing its use for IT-related activities. 

The township had been mired in controversy ever since its inception in 2003. Conceived by the then Congress government, it could not acquire the requisite 5,227 bighas land identified for the project during its five-year tenure. Allegations of politicians buying land to earn an easy buck were rife. Later, the project was again in trouble when a private entrepreneur — Skill Infrastructure — signed a memorandum of understanding with the state government to set up a special economic zone over nearly 800 hectares in the same area. This project, too, failed to take off due to non-availability of land. 

The Authority had invested Rs 20 to Rs 30 lakh on the project while working out modalities. Project officials, however, were hesitant to accept the fiasco. Chief executive officer S.K. Sood confirmed that the project had been denotified, but said efforts would be made to revive it. 

Another major problem confronting the project was the presence of a large number of trees, felling of which required a marathon procedure of obtaining permission under the Forest Conservation Act, 1980, from the Ministry of Environment and Forests. Though the Authority had moved a case with the forest department, it was not pursued. Officials said this, too, impeded successful completion of the township. 

What went wrong?

The project had failed to find favour with the locals right from the word go and there was stiff opposition from villagers who had rights on government land and were opposed to acquisition of their private land. The Authority had gone ahead with proceedings to acquire 3,018 bighas that were under private ownership. Though the issue was raised in all subsequent elections by villagers, land acquisition proceedings were notified and notices under Sections 6 and 7 of the HP Land Acquisition Act, 1894, served on them.

Landowners did file objections, as per the requirements of the act, but those could not deter the Authority from notifying Section 9 of the act under which the government was to announce award for the land. The Authority, however, failed to announce the award following opposition from landowners in the stipulated nine-month period, resulting in the project being denotified. 

Reason to cheer

The denotification has brought cheer to land owners, who had bought land in the vicinity of the notified area but had been debarred from either selling it or constructing houses on it due to a land use freeze.

Had the project gone ahead, nearly 110 families would have been rendered landless post-acquisition. Even worse, their rehabilitation plan had not been finalised, drawing more resistance from villagers.

GREEN HOUSE
Impossible is nothing
Filled up all available ground space in your garden? Well, it’s time to explore vertical limits, writes SATISH NARULA. Here’s how to take your garden to new heights!

Space is no restriction for a gardener with imagination. He or she can use every nook and cranny in the garden to advantage and light up any area with amazing features. Even after all possible ground space in the garden has been filled, they start moving vertically to utilise literally non-existent space!

The best effect in any garden comes when it is extended from ground to the sky. For this, various kinds of structures have been tried. The basket culture is not new. Similarly, stands of various descriptions have been used to hold pots. But a gardener cannot be content with what he has. He knows whatever can hold growing media, soil and plant can be used to do up the place. Even the sun does not seem to matter, as plants that are suitable for shade are used at such locations.

One of the trickiest areas to decorate in any garden is the wall running parallel to the drive-in. Normally, a very thin bed is left in front of it that is not sufficient to support plants. Also, anything grown along the drive-in impedes movement.

Under such circumstances, beds and baskets in walls come very handy. However, you have to be very cautious while selecting plants for such locations.

Plants must be very short and ready to take clipping or pruning without affecting their basic character -- if it has been planted for floral beauty, then it should keep flowering despite pruning. Selecting plants with blooms of a colour in contrast with the background is very eye catching. See the accompanying picture where a blue lantana has judiciously been used for such an effect.

These kinds of structures are becoming increasingly popular due to the availability of waterproof paints. These paints are also resistant to the harshness of the sun. In case of beds in walls, waterproofing chemicals could also be applied. For any hanging bed or pot, it is vital that it be very light weight and the soil mixture must have good capacity to hold moisture and provide nutrients.

Selecting suitable potting mixture that comprises mostly of nutrient-rich light material is the key. This can be achieved by including shredding of moss grass and using leaf mold in the mixture. The shreds of moss grass could be put at the top of the mixture too.

This column appears fortnightly. The writer is a senior horticulturist at PAU and can be reached at satishnarula@yahoo.co.in.

Fortnightly Alert

This is the right time to prepare baskets. For any above ground structure, it is very important to keep the potting mixture in a rich condition all year round. For wall baskets, it is very important to make them leak proof even when the wall has waterproof paint.

For this, before the mixture is filled, use a lining of poly-film. Be more cautious in cases where there could be water stagnation. The roots of the plant are very confined in a basket against a wall and could rot. Baskets hanging in the open are sturdier since moisture loss is faster and water holding capacity of baskets is limited. So, be careful while watering.

Keep watering frequency light and repeated rather than giving a good fill. Other effective material for use in baskets could be shreds of coconut or fine shreds of wood. They also absorb water well.

REALTY BYTES
Unitech to invest 600 cr for 5,000 affordable houses
Making dreams come true

Enthused by the robust demand for its affordable housing projects, realty major Unitech today said it would invest Rs 600 crore to develop 5,000 such units in seven cities across India. Unitech would launch affordable housing projects in seven cities this week. The projects would come up under ‘Uni Homes’ brand at an affordable price range of Rs 10-30 lakh.

Projects would come up at Noida, Greater-Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali. “The total area to be launched in these seven cities would be 4.5 million sq ft,” a company spokesperson said. The company has land to develop these projects and would invest Rs 600 crore on construction, he added.

Unitech is aiming to launch 30 million sq ft of housing space in FY’10, including 20 million sq ft under ‘Uni Homes’. So far it has launched 17 million sq ft housing area. “We have received overwhelming response from the customers and have sold more than 6,000 apartments comprising seven million sq ft of area,” he further said.

In order to achieve the numero uno status in the realty sector within a year, Unitech had announced to build 20,000 affordable houses at a cost of Rs 1,700 crore in May. “We made a mistake of only focusing on top two-three per cent of India’s population. Now we want to reach the masses and enter into budget and affordable houses. We will be the biggest player in the housing segment,” Unitech Managing Director Sanjay Chandra had said. — PTI

DLF, Unitech bid for 1700-cr Gurgaon land

DLF and Unitech, the country’s top two real estate firms, are understood to have bid for a 350-acre plot in Gurgaon with a reserve price of about Rs 1,700 crore.

According to sources, DLF and Unitech bid for the land meant for setting up recreation and leisure project, comprising commercial, residential and sports complexes. The bids were invited by Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).

This is the second time the bids were invited. Earlier in April, HSIIDC had closed the bids for the same project, in which DLF was the sole bidder.

‘Feel good factor returning’

The “feel good factor” is coming back into the real estate sector with enquiries for both commercial and residential space slowly picking up, Karnataka Confederation of Real Estate and Developers’ Association (CREDAI) said.

“The feel good is coming back”, Raj Menda, president, CREDAI-Karnataka told reporters while announcing a two-day realty expo from August 15, showcasing 150 properties of 32 leading property developers.

“In the commercial space, where corporates were zeroing in on office space, there has been a demand for 30 lakh square foot office space in Bangalore,” he said. Suresh Hari, Secretary, CREDAI, Karnataka, said: “Since April 2009, people have again started their quest for homes. More people are looking to stretch their hand as far as they can reach right now instead of foreseeing income rise in the future. This has resulted in the resurgence of affordable homes in the bracket of Rs 20 lakh to Rs 50 lakh. Banks have also opened out in reducing home loan rates”.

The realty expo would have 2500 houses that would be ready in the next six months and 18,000, which would be completed in one-and-a-half to three year period, indicating that developers were optimistic of sales picking up, Raj said. There has been a 60 per cent growth in the March 09 quarter over the December 08 quarter, he added. — PTI

Real estate lawyers hard-hit by economic crisis

With the real estate sector slowing down due to the global economic crisis, most lawyers who made a neat sum dealing with clients purchasing land are now left with petty cases.

“Earnings have come down for lawyers, who specifically concentrated only in dealing with real estate clients. Some of them have even started taking up pending cases,” Madras High Court Association president RC Paul Kanakaraj said.

The affected lawyers, once considered an ‘elite group’ among their peers across courts in the state during the peak period of the real estate boom, are no longer the envy of their fraternity.

Noted civil advocate C Ravindran said four years back, a lawyer used to charge clients who wished to register land, about one per cent of the total land value. “The lawyers’ commission percentage has slowly come down and is now a mere 0.5 per cent” he says.

Compounding their woes is the increase in the number of lawyers who have chosen to enter this sector despite the bleak prospects and a leap in those entering the legal profession, forcing many real estate lawyers to quit their vocation altogether, he said.

The lawyers used to verify the land document for clients wanting to purchase a house or flat, then go through the registration process and charge a certain amount for these procedures.

An advocate, who did not wish to be identified, said he used to charge a minimum of Rs 10,000 per client for legal verification of documents and other formalities. He used to deal with a minimum of 10 clients a month. “Now the scenario is totally changed. Due to the economic crisis and the fall in real estate business, I am not making any money at all,” he rued.

Confederation of Real Estate Association President Prakash Chella said the sector had seen a definite slowdown in the last one and a half years. “The slowdown was at its peak during 2008. We are hopeful that the market will soon return to normal,” he said.

Sources at the Commercial taxes and Registration department said the financial meltdown had resulted in a 3 per cent dip in revenue collection for the Tamil Nadu revenue department in 2008-09, based on land documents registered, compared to the same period last year. Revenue collection for 2008-09 was Rs 4,099.54 crore, compared to Rs 4,232.36 crore in 2007-08, a negative rate of 3.14 per cent.

This was in stark contrast to the scenario in 2006-07, when revenue collection figures shot up by 45 per cent over the same period in 2005, when the business was at its zenith. In 2006-07, the revenue department collected Rs 3,407.50 crore as registration fee, compared to 2,384.64 crore the previous year.

Registration of documents also showed a 23 per cent growth rate - 24,92,294 documents were registered in 2006-07, against 20,11,566 registered in 2005-06. Most of the lawyers now fervently hope that the gloomy economic scenario will soon be a thing of the past and the real estate business will start looking up again, which would see a change in their 
fortunes. — PTI

Tax tips
S.C. Vasudeva
The property is yours & so is tax liability

Q. I purchased a property in December 2005 for Rs 18 lakh in the names of my wife, a homemaker, and I. In June 2009, I sold it For Rs 32 lakh. My wife and I received a DD of Rs 16 lakh each. What shall be the captain gain tax payable by my wife?

She has no other income. Will the capital gain be her income or clubbed with mine? In case it is to be clubbed with my income, how will it be shown in the tax return?

My wife deposited the DD in her bank account. For tax purposes, will the interest income belong to her or me?
— Dr Darshan Kumar

A. On the basis of facts given in the query, it seems that the property was acquired from funds provided by you, as your wife did not have any source of income. It is, therefore, presumed that for all intent and purposes you were the owner of the property and there was no gift involved in the transaction. The reply to your query is based on the said presumption.

The cost inflation index for 2005-06 being 497 and that of 2008-09 being Rs 582, the indexed cost would work out at Rs 21,07,847. The capital gain on the said basis would work out at Rs 10,92,153. The cost inflation index for 2008-09 has been taken as index for 2009-10 is yet to be notified. The tax thereon for assessment year 2009-10 would be leviable @ 20 per cent plus education cess of 3 per cent thereon.

The interest earned on the amount of deposit of Rs 16 lakh in your wife’s account would also be taxable in your hands as the said amount of Rs 16 lakh belongs to you.

Your daughter can’t claim deduction

Q. In March 2007 my wife availed a Punjab National Bank home loan of Rs 20 lakh. During last FY 2008-09, she repaid Rs 2.5 lakh in EMIs. The interest charged by the bank was Rs 1.8 lakh.  Now my daughter, who was the co-applicant for the loan, contributed to the tune of Rs 2 lakh.

If I am correct, under IT rules, my wife is eligible for deduction u/s 24(b) Rs 1.5 lakh towards interest paid and u/s 80C Rs 1 lakh towards principal amount.

Then in May 2008, she sold a flat for Rs 30 lakh that she had acquired for Rs 10 lakh in June 1991. She paid the balance amount mortgage that she took from the bank for acquisition of the property for which she availed the home loan. Kindly clarify:
Is she entitled to the deductions stated above?
Can my daughter claim any IT deduction from her assessment for Rs 2 lakh paid back towards the loan?
What is the tax for capital gains? How can tax on capital gains arising from sale of plot be saved?
— J.K. Kalsi

A. Your queries are replied hereunder:
Your understanding with regard to availability of deduction under section 24 of the Income-tax Act 1961 (the Act) to the extent of Rs 1.5 lakh towards the interest paid and under section 80C of the Act with regard to the repayment of principal amount to the extent of Rs 1 lakh are absolutely correct.

Your daughter cannot claim any deduction in respect of Rs 2 lakh paid towards the home loan as co-applicant.

The long-term capital gain is subject to tax for assessment year 2010-11 @ 20 per cent plus education cess @ 3 per cent thereon. However, tax so payable can be saved if the capital gain is invested in purchase or construction of a residential house. The purchase will have to be effected within two years of the date of sale and the construction within three years of the date of sale. The capital gains tax can also be saved if the capital gain is invested in the acquisition of infrastructure bonds issued by the Rural Electrification Corporation Limited within six months of the date of sale.

CGT exemption
House must be in name of assessee

Q. I purchased a plot to build a residential house in Gurgaon. I could not construct the house due to non-availability of a bank loan — I am over 65. I intend to sell the plot and buy a flat in Gurgaon in the name of my son, who would be able to get a loan from his employer at a very reasonable rate of interest. Will the capital gain arising on the sale of the plot of land be exempt in case the flat is purchased in my son’s name?
— A.K. Sahai

A. In accordance with provisions of section 54F of the Income-tax Act, the net consideration from the sale of a long-term capital asset (capital asset held for more than three years) is required to be utilised by the assessee for the acquisition of a residential house within a period of one year before or two year after the date on which the transfer took place or for the construction of a residential within a period of three years of the date of the transfer.

The net consideration for the purposes of the section means, the full value of consideration received or accruing as a result of transfer of the capital as reduced by any expenditure incurred wholly and exclusively in connection with such transfer. The essential requirement of this section is that the acquisition or the construction of the residential house has to be in the name of the assessee.

In view of the above legal position, in case the flat is purchased in the name of your son, the capital gain arising on the sale of plot would be chargeable to income tax. In case the plot has been held for a period of more than three years, the capital gains would be treated as a long term capital gain and tax would be payable for assessment year 2010-11 (financial year ended 31st march 2010) @ 20% and 3% education cess thereon. In case the plot has been held for a period of less than three years, the capital gain would be treated as a short-term capital gain and would be taxable at the normal slab rate alongwith your other income, if any.

NRIs can remit $1 mn a fiscal by selling assets

Q. My husband and I are NRIs and live in the US. My husband changed his nationality from Indian to American but I am still an Indian national. I bought land in Gurgaon in 2000.

We sold our house in America in 2001 and with that money I built a house on the Gurgaon plot in 2002. Now, I want to sell the Gurgaon house and bring the money back to the US to buy a house there.

Can I bring all the money out of this sale to USA? Do I have to pay income tax on this sale of the house in India?
— Neha

A. Your queries are replied hereunder:
According to paragraph 5.1 of Master Circular dated July 1, 2009, relating to remittance facilities for Non-resident Indian/Persons of Indian Origin/Foreign Nationals issued by the Forex Department of the Reserve Bank of India, a Non Resident Indian or a person of Indian origin can remit an amount upto USD one million per financial year out of sale proceeds of assets for all bonafide purposes, subject to the satisfaction of the authorised dealer bank and on production of an undertaking by the remitter and certificate by a chartered accountant in the formats specified by the Central Board of Direct Taxes vide Circular No. 10/2002 dated October 9, 2002.

Further, as per paragraph 5.2 of the said Circular, Non-Resident Indian/Persons of Indian Origin may remit sale proceeds of immovable property purchased out of Rupee funds in accordance with the guidelines in paragraph 5.1 without any lock in period.

Repatriation of sale proceeds of residential property purchased by Non-Resident Indian/Persons of Indian Origin is permitted to the extent of the amount paid for acquisition of immovable property in foreign exchange received through banking channels. The facility is restricted to not more than two such properties. The balance amount can be credited to the NRO account and can be remitted under USD one million facility.

The capital gain arising on the sale of a house in India shall be subjected to capital gains tax. On the basis of the facts in the query, it seems that the house property was held by you for more than three years and, therefore, capital gains tax would be chargeable @ 20 per cent plus education cess of 3 per cent thereon. The tax will be computed by deducting the indexed cost of the house property from the sale proceeds of the house.

Buying a plot in Punjab
You can stand witness

Q. My mother wants to purchase a plot in Punjab. In the state, the first witness is the lambardar; can I stand as the second witness?
— Ashutosh

A. The sale deed in favour of your mother in respect of a property being purchased by her will be executed by the seller. At the time of registration of such a sale deed, both the seller and the purchaser have to be present before the sub-registrar. The signatures of the purchaser can be attested by anyone provided his identity is proved to the satisfaction of the sub-registrar. In my opinion, there should not be any difficulty in your being witness as to the attestation of signatures of your mother while effecting the registration of the sale deed in her favour.

This column appears weekly. The writer can be contacted at sc@scvasudeva.com.