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Stuff dreams are made of
TREND MILL
Spire Edge is Asia-Pacific’s Best Office Development
GROUND REALTY
Luxury gets a new address
Flat sale
Capital gain deemed utilised when you get house possession
Partition HUF after sale of agricultural land
Bond-acquisition goes in column no. 24 of ITR
No tax on any gift!
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Stuff dreams are made of
A house in the lap of nature, just below the hilltop, under tall pine trees, above sprawling orchards overlooking a well spread out valley… A place where the snow layers the driveway in winter, the wind beats down mildly in summers and clouds caress your hair in the monsoon. Now who would not want a house in such an idyllic location?
Fortunately, Jammu and Kashmir offers several such excellent locations where isolated places of dwelling amidst scenic surroundings can be built. Unfortunately, no well-planned and executed colonies offering modern amenities have been available with unplanned and haphazard construction being the order of the day. But things are set to change in Kud town, five km short of the more popular and known hill station of Patnitop. Here, the state’s first properly planned housing colony is being developed by the JK Housing Development Corporation. Kud till now has been the poor cousin of Patnitop, a place where people stop by to eat its famous and sumptuous milk cake and world famous patisa or to fill bottles with what many believe is pure mineral water from a natural spring. Of late, many visitors have been taking a left turn from Madha Mor towards the housing colony. With 452 plots in high, medium and low-income groups up for grabs, the development scheme has been an instant hit. Plots were sold for Rs 149 per sq ft. Each marla cost about Rs 40,000. While LIG plots had an area of three marlas, MIG had five marlas and HIG seven marlas. Twelve-odd double storey huts have already come up with construction on in full swing at for others. Majority buyers are Jammu residents. While some have thought of the buy as an investment and plan to stay here post-retirement, most plan to build weekend houses. Says buyer Dr B.B. Sharma, “I have taken possession of the plot and am going to construct a small hut here with modern landscaping to spend the weekend away from the city. Summer is getting unbearable in Jammu and it will be worth the 100 km travel to enjoy two days in greener, cleaner and cooler environs.” Local businessman Ashwni Kumar, his brother and a common friend have bought three plots. “We plan to stay here together after retirement. A man only earns all life to spend the later part comfortably. Till I lead an active working life, I will bring my family here for weekends and holidays. They are all very excited!” he says. But for Nanak Nagar resident Kulwant Singh, the investment has a twin aim. Besides a summer holiday and weekend getaway for his family, he is planning to cash in on the tourist flow at Patnitop. "Patnitop overflows with tourists in summer and winter. Winters are busiest and tourists even spend the night in their vehicle for want of rooms. I hope to make some quick money during the tourist season by letting out rooms," he says. On its part, JK Housing Development Corporation is laying roads and fastening power supply wires. A new Mall Road from Kud to Patnitop that passes close to the colony is under construction. It won’t be just a normal highway. It will have a wide walkaway along the three-kilometre stretch of the Mall Road for morning and evening strolls. Even a few Delhi residents have bought plots in the area. A local resident not wanting to be named said his friend bought the land in his name as only state residents can buy land in Jammu and Kashmir, "I have given the friend power of attorney to live here. This is the only way outsiders can get land here."
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TREND MILL
Enviroment-Friendly and energy-efficient buildings are increasingly becoming popular and may grow over three times in the next five years, thereby offering new opportunities to the beleaguered construction industry.
"Today, India has close to 30 million square ft of green buildings; an amazing achievement given the fact that we had only about 20,000 square ft in 2003 when the movement started here," Ajay Mathur, director general for Bureau of Energy Efficiency (BEE) under the Ministry of Power, said. Market estimates take the figure to over 100 million square ft in the next five years, opening big opportunities for the industry," Mathur said. A green building uses less energy, water and natural resources, creates less waste and is healthier for the people compared to a standard building, according to the Indian Green Building Council (IGBC). The Bureau of Energy Efficiency is adopting various mechanisms for reducing power consumption substantially in a bid to combat climate change. The Bureau, which introduced star rating for determining the energy efficiency of electronic home appliances, has started a similar rating system for commercial buildings. "Our new initiatives, to promote green buildings include an exhibition (Empower India 2009), which will impart knowledge on the importance of green buildings," Mathur said. "Our other initiative includes assigning ECBC (energy conversation building code) to generate awareness and popularising energy-efficient green building designs suiting the climate condition in Tripura," he added. A total of 3,731 million units of electricity were saved in the year 2007-08 led by the initiatives undertaken by the BEE, according to a study conducted by National Productivity Council. — PTI
Mainstream Green architecture
IT is the architectural philosophy that aims to turn the conflict between nature and infrastructure into a synergistic confluence of commercial progress and environmental prosperity. Based on multi-dimensional innovations in design and product excellence, it emphasises on an eco-positive and environment-sensitive approach by taking advantages of renewable natural resources like using sunlight to lower energy consumption, vertical gardens, green roofs and indigenous plantations that not only reduce irrigation water utilisation by saving rainwater run-off but also aid rainwater harvesting, using materials from local sources, reduce loads and optimising energy
utilisation. A Mainstream Green complex consumes lesser amounts of energy as compared to traditional buildings. This results in financial benefits to the owners, health benefits to the occupants, environmental benefits towards the earth and fulfilment of corporate responsibility towards the community.
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Spire Edge is Asia-Pacific’s Best Office Development
Spire Edge is based on the tenets of Mainstream Green Development and is designed to be up to 30 per cent more energy efficient. Conceptualised by SpireWorld and developed in collaboration with A.N. Buildwell, the project is being brought to life by a team of world-renowned architects led by Dr Ken Yeang, the world’s foremost authority on sustainable architecture and father of bioclimatic skyscrapers. Located at Manesar in Haryana -- a destination that lies just off National Highway No. 8 and is rated amongst the six top growth destinations in India – the project is slated to be the new beacon of
Manesar. It will offer 13 lakh sqft of built-up space, efficient and scalable office spaces, expo and conference facilities, auditoriums, business suites, commercial/retail complex and a club — all stringed together harmoniously in a 10 acre campus. The 1.6-mn sqft eco-office complex embodies several unique features — 28-day water back up, scalable parking, flexible office spaces and vertical landscaping — making it a radical representation of the future in both form and function. Says managing director Ashish Bhalla, “Spire Edge will result in substantial energy-costs savings for its occupants in the coming months. I imagine with this recognition of its sustainable architectural solutions in a global forum, it will also set a direction for the way work & living spaces should be developed in the future. It is a vindication of our belief that environmental responsibility & infrastructure for commercial gains need not be in conflict.” The project also has its roots in Vaastu traditions. It is built in a spiral form that emanates from a pure centre and works with the basic principles of time, air and light. The spiral ends at the zenith of the signature building, serving as a beacon for the entire area. The active streets link the two energy zones. The greens throughout the site serve as positive energy sources with water as a fundamental guiding element altogether creating a symbiosis between nature, infrastructure and people for a peaceful co-existence. Later this year, Spire Edge will be the only Indian commercial project representing the entire Asia Pacific region at the International Property Awards 2009 and will be pitched against the winning entries from Europe, UK, Americas and Arabia for the much-coveted World’s Best in each category.
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GROUND REALTY
Market trends indicate that despite the availability of newer materials like aluminum and UPVC, wood remains the preferred choice for joinery work in houses. Termite problem may have prompted some builders to switch over from wooden to pressed steel chowkhats (or frames), majority still look for wood for doors, windows and ventilators. The choice prevails despite knowing that woodwork is the single most time consuming activity during construction of a house!
For those of you who have just joined us, the woodwork in a house is called joinery. The fittings that are put on doors, windows and ventilators for opening and closure of shutters are called joinery fittings. Smooth operation of joinery fittings adds to the joy of the homeowner while sturdy and strong fittings ensure security and safety. Joinery fittings are, therefore, to be selected carefully. Here are some guidelines: Types of
fittings: Joinery fittings can be in mild steel, stainless steel, aluminum or brass. Brass fittings are the costliest. Brass or steel fittings are oxidised while aluminum fittings are anodised. Steel fittings are also available with black enamelling. Similarly, brass fittings are chromium plated too. Fittings are given any of the gold, nickel, satin, chrome, matt or antique copper finish. In addition, attractive glass fittings are also available these days. Checkpoints: While choosing brass fittings, care has to be taken that fittings are in brass itself and not brass coated iron fittings. One should confirm this from the seller. For stainless steel fittings, check that the steel is of AISI 316 grade. While choosing aluminum fittings, check that the fittings are fully anodized. For this, check the certificate available with the retailer for anodic coating. For long-term surface finish of the fittings, this coating should be of AC 15 grade. As per IS 1868, aluminum fittings should not be having less than AC 10 grade anodic coating. Right
brands: Among Indian manufacturers, Ozone, Ebco, Oriental, Italica produce good quality joinery fittings. Italica fittings are not Italian but produced by a Rajkot firm. These fittings are cheaper in comparison to imported fittings. Locks produced by Godrej are known worldwide for their quality. Ebco produces doorstoppers, doorknobs, door handles and floor springs of fine quality. However, more and more house builders are today choosing imported fittings. Best of the imported fittings belong to Hafele, Dorma and Kich. These firms have now established their works in India. Hefele also sells a range of Italian fittings. Dorma is basically a German firm and holds an excellent range of fittings. Astec, another top German company, sells handles, knobs and locks in India. Working out the
numbers: Always prepare a schedule of fittings required for your house. Count the number of single leaf paneled or glazed shutters, double leaf panelled or glazed shutters, wire gauge shutters, single leaf glazed window shutters, double leaf glazed window shutters, single leaf and double leaf window wire gauge shutters and cupboard and wardrobe shutters. While the paneled or glazed shutters will require tower bolts, handles, stoppers and mortise locks, wire gauge shutters will require tower bolts, handles and helical door springs. Some paneled or glazed shutters may be provided with hydraulic door closers also. Glazed shutters for windows will require tower bolts, handles and eyes and hooks. Wire gauge shutters for windows will require handles and tower bolts only. Cupboard shutters will require tower bolts on inside of bottom, knobs, mortise locks and ball catchers. Drawers in cupboards will require sliding and pullout runners and knobs. One should take all these into consideration and carefully work out the size wise numbers of each type of fittings. Optional
fittings: Earlier, sliding bolts used to be provided on external doors. Nowadays, preference is for mortise locks and sliding bolts are rarely used. However, one may choose to provide these on some of the doors. Simple latch bolts are chosen as the additional locking arrangements and are provided on inside of most of the doors due to their convenient use and extra safety factor. Size of
fittings: Tower bolts used these days are of 10 inch, six-inch and four-inch size. The door handles used are four-inch size while window handles are three-inch. Sliding bolts, if used, are of 12 and 10 inch size. Note that a 10-inch tower bolt means a bolt of the size and not the base plate. Normally, a 10-inch tower bolt will have an 11-inch base plate. Similarly, other tower bolts also have an inch longer base plate. Fixing of
fittings: While fixing the fittings in position, some points must be kept in kind. Keep the height of latches and sliding bolts 80 and 85 cm above floor level for convenient use. Keep door handles one metre above floor level. Further, take care that these are fixed at least 10 cm away from the edge of the door or your knuckles may strike the frame and get hurt. Take special care while fixing door closers. It is a specialist’s job. The side of the door closer should be at least 4.5 inch away from the fixed end of the door. Take care that fittings are exactly horizontal or vertical. Carelessly fitted inclined fittings not only look ugly but also pose problems in smooth operation. Screws: After working out the number of fittings, length-wise numbers of screws should be worked out. Always check that the colour and finish of screws exactly matches that of fittings or fittings will lose their beauty. Take care that screws are fully driven in with a screwdriver and not hammered in. Hammered screws lose grip and become loose after sometime. Mortise
locks: Use of mortise locks is increasing these days. People prefer to provide these locks on all doors. Mortise locks are supplied in 2.5 inch, 3 inch and 4-inch sizes. Here, size means the depth of lock part that gets inserted into the thickness of door. See that depth of lock part is around 15 mm so that it fits conveniently into the thickness of the door. Choose six lever locks. Each lock should have at least two keys. Locks with three keys are also available. For the main door, such a lock can be chosen to allow three members of the family to keep separate keys with them. For additional features, look for heavy duty locks with anti-corrosive coatings. Mortise locks have a dead bolt that is operational with key for locking and a latch bolt that is operated with handle. Only dead bolt type or only latch bolt type locks are also available. For toilets, one may use only latch bolt type locks. Mortise lock
keys: A house may be having 12 to 20 panelled doors provided with mortise locks or mortise latches. Each lock has a pair of keys. One should always check that one mortise lock doesn’t get operated by the keys of other locks. Each lock should be operated by its own pair of keys only. Often, it becomes a headache for the house owner to locate the right key for a lock out of the bunch of keys looking similar. Number the locks and keys by using small sized stickers or inking numbers with a permanent marker. Numbers on the lock face and key can also be compared, but it’s time consuming. Duplicate keys with number stickers on them should be removed from key rings and stored together. Almost all locks are now provided with triplicate keys. Store extra keys safely for future use. Choices are
many: When it comes to handles, the range and choice available is beyond a house builder’s imagination! Handles can be pull or lever type. Pull type handles are back to back fixing type for similar handle on both faces of door or bolt fixing type for one face. Lever type handles can be hollow or solid type. For flush doors, knob locksets with lockable knobs on both sides can be chosen. For bathrooms, knob sets with emergency release slot on outside and push button knob on inside can be chosen. Another type of bathroom lock shows ‘engaged’ sign when bathroom is occupied so that one may not keep operating the handle and pushing the door from outside. On the main door, one must provide a security door chain and a door viewer with flap. This column appears fortnightly. The writer is deputy chief engineer, civil,
PSEB. He can be reached at www.jagvirgoyal.com
Handle with care!
Reputed companies take care of this aspect. Run your fingers along the edges of the handles. These shouldn’t feel too sharp. Try to grip the handle. All the four fingers of your hand should conveniently enter the handle and grip it without the edge tending to cut your hand. More important is to check the tower bolts. Often, their sharp cuttings pierce the finger skin when opened or closed a bit carelessly. Always check that the holes for screws in the fittings are counter sunk type so that the screws get driven in the fittings with their heads resting flush with the fitting surface.
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Luxury gets a new address
Lavish lifestyle and extravagance have been synonymous with residents of the industrial city of Ludhiana. Though recession hit economies the world-over, but as far as luxurious lifestyle is concerned, Ludhianvis refuse to make any compromise. Keeping a tab on their pulse, Janpath Estates has launched an environment-friendly project, Janpath Dreamz, for the elite.
Located six kilometres from Ferozpur Road, the project — expected to be ready by 2011 — will have twin shopping centres, a health club and community center all surrounded by a green cover. The campus will be spread in 10 acres along Sidhwan Canal and will be connected with a metalled road. The scheme comprises 79 villas of 310-350 square yards. The first phase would be completed in nine months. Project vice-president and Chandigarh’s former chief engineer V.K. Bhardwaj feels since it was a unique and luxurious concept, the elite will not think twice before investing in these villas. "There is no space available in Ludhiana. Moreover, the green cover has almost vanished. People want to live and lead a healthy life and this project will provide them the best," says Bhardwaj. The top floor would have a terrace with home-theatre. The campus will provide CCTV surveillance, water supply, power back-up, multi-level security, DTH facility etc. The construction of the sample villa began on August 5. As per models of the campus, landscaping, lush green lawns and water features blend with direct and indirect lighting to add to a sense of living with style and luxury. Besides, campus will be surrounded with species of trees like Chukrassia Tabularies, Fox tail palm, triangular palm, ficus lyrata and shrubs like Hibiscus, Dwarf, Raphis Humills, Galphimia Glauca and Ixora Coccinea. The project is a joint venture of leading industrial houses, including the K. Lall Group and Eastman Impex Group, both of which have interests in textiles, dyes, steel, hotels and customised forgings. Bookings will start within 10-15 days and the cost of each luxurious villa will be Rs 1.5 crore onwards.
What you get...
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Flat sale
Q. I wish to dispose off my society flat in Delhi. My queries are:
— Rishu Kumar A. Your queries are replied hereunder: I have presumed for the purposes of giving reply to your query that flat was held for more than three years. In case the flat was held for more than three years, the tax on capital gain would be chargeable @ 20% plus education surcharge of 3% thereon. In case the flat has been held for a period of less than three years, it would be a case of short-term capital gain. Such gain would be added to your other income and chargeable at the normal slab rate.
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Capital gain deemed utilised when you get house possession
Q. According to the Income-tax Act, to save capital gains tax out of sale proceeds of residential house, one has to invest the total capital gain into the purchase of residential house either one year before the sale deed or in construction of residential house within three years of sale deed.
I purchased a unit of exclusive floors (GF) of a private company in Mohali. The payment plan is construction linked 10 per cent of the total cost was paid in January 2009, at the time of booking, 15 per cent was paid in February 2009, when allotment letter was issued, rest of payment in seven-eight installments after the start of construction of floors. Construction has not started yet and may start by end of 2009. Once started, construction will have to be completed in 24-30 months, as per terms. My questions: —
Rakesh Kumar A. Your queries are replied to hereunder. Replies are based on the presumption that the residential house intended to be sold has been held for more than three years and the capital gain arising on such intended sale would be a long-term capital gain. The schedule for the sale of residential house may be decided accordingly.
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Partition HUF after sale of agricultural land
Q My father died in 1980. Since then I have been considered the ‘karta’ of HUF being the eldest among four siblings. We have nine acres joint agricultural land in a village and want to sell it. Its market price is Rs 2 crore. We want to divide the amount in four equal parts of Rs 50 lakh each and then utilise this amount as per requirement of each one of us. I want to purchase or construct a residential house out of the amount of sale of land, as I have no house.
— Gurmel Singh A. Your queries are replied hereunder:
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Bond-acquisition goes in column no. 24 of ITR
Q. I am a retiree, a senior citizen and PAN holder. My sources of income are only pension and interest. Hitherto, I have been using ITR-1 for submitting my income-tax return. I had purchased a residential plot in June 1961 for Rs 15,000. In June 2008, I sold it for Rs 10.5 lakh and deposited the entire amount with Rural Electrification Corporation for which I have duly received 105 bonds of Rs 10,000 each. Thus, I have no liability in the form of capital gains tax. However, I want to report the matter in my return for which there appears to be no column in ITR-1. Can I use column 25 of ITR-1 just to report about my transaction or is there any other alternative?
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D.K. Aggarwal A. The information with regard to the acquisition of bonds should be given in column 24 of ITR-1 under code no. 004. This column deals with the information regarding the transactions reported through Annual Information Return. Column 25 deals with the tax-exempt interest income and, therefore, it is not the correct column for reporting the acquisition
of bonds.
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No tax on any gift!
I want to know: — K.M. Singh A. Your queries are replied hereunder:
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J&K’s first properly planned housing colony in Kud near Patnitop offers dream
homes in idyllic surroundings
Enviroment-Friendly and energy-efficient buildings are increasingly becoming popular and may grow over three times in the next five years, thereby offering new opportunities to the beleaguered construction industry."Today, India has close to 30 million square ft of green buildings; an amazing achievement given the fact that we had only about 20,000 square ft in 2003 when the movement started here," Ajay
Mathur, director general for Bureau of Energy Efficiency (BEE) under the Ministry of Power,
said.
Market trends indicate that despite the availability of newer materials like aluminum and UPVC, wood remains the preferred choice for joinery work in houses. Termite problem may have prompted some builders to switch over from wooden to pressed steel chowkhats (or frames), majority still look for wood for doors, windows and ventilators. The choice prevails despite knowing that woodwork is the single most time consuming activity during construction of a house!
Lavish lifestyle and extravagance have been synonymous with residents of the industrial city of Ludhiana. Though recession hit economies the world-over, but as far as luxurious lifestyle is concerned, Ludhianvis refuse to make any compromise. Keeping a tab on their pulse, Janpath Estates has launched an environment-friendly project, Janpath Dreamz, for the elite.
Q. According to the Income-tax Act, to save capital gains tax out of sale proceeds of residential house, one has to invest the total capital gain into the purchase of residential house either one year before the sale deed or in construction of residential house within three years of sale deed.I purchased a unit of exclusive floors
(GF) of a private company in Mohali. The payment plan is construction linked 10 per cent of the total cost was paid in January 2009, at the time of booking, 15 per cent was paid in February 2009, when allotment letter was issued, rest of payment in seven-eight installments after the start of construction of floors. Construction has not started yet and may start by end of 2009. Once started, construction will have to be completed in 24-30 months, as per terms. My questions:
Q My father died in 1980. Since then I have been considered the ‘karta’ of HUF being the eldest among four siblings. We have nine acres joint agricultural land in a village and want to sell it. Its market price is Rs 2 crore. We want to divide the amount in four equal parts of Rs 50 lakh each and then utilise this amount as per requirement of each one of us. I want to purchase or construct a residential house out of the amount of sale of land, as I have no house.
Q. I am a retiree, a senior citizen and PAN holder. My sources of income are only pension and interest. Hitherto, I have been using ITR-1 for submitting my income-tax return. I had purchased a residential plot in June 1961 for Rs 15,000. In June 2008, I sold it for Rs 10.5 lakh and deposited the entire amount with Rural Electrification Corporation for which I have duly received 105 bonds of Rs 10,000 each. Thus, I have no liability in the form of capital gains tax. However, I want to report the matter in my return for which there appears to be no column in ITR-1. Can I use column 25 of ITR-1 just to report about my transaction or is there any other alternative?
India’s first mainstream green project bagged “The Best Office Development” award in India and the Asia-Pacific and “The Best Architecture” award for India at the recently-concluded Asia Pacific Property Awards 2009 held in Singapore.
WHILE choosing joinery fittings, do check that these don’t have any sharp edges. 
Good quality tower bolts will never cut into your hand, howsoever fast you may operate them. 
Q. I am 73 and an income-tax payee. My wife and I have no son and want to gift our property to our daughters as under: