Patiala’s Business mess
Umesh Dewan

With its green and serene environment, prestigious educational institutions, good sports and medical facilities, and world famous handicrafts, Patiala is undoubtedly one of the most prosperous and progressive areas of Punjab. But in spite of all this, the realty sector in the city is not really booming. Though residential development in Patiala, which till few years back had plotted developments only, has moved into the era of planned colonies, the growth of commercial areas is fast becoming haphazard and unregulated. The realty sector in the city can get a major boost if the state government gives nod to the resolution of Patiala Municipal Corporation to declare eight residential roads as commercial. But the government has overlooked the issue for the past two years.

Some three years back the Patiala MC House had passed resolutions declaring eight city roads as commercial. These included road from Raghomajra Pulley to Ayurvedic College; from Gurdwara Dukhnivaran Sahib to Madhu Clinic; from Tripuri from house of Ajit Singh Kooner to Kohli Sweets Chowk, and then Kohli Sweets Chowk to B.N. Khalsa School Chowk; Sanaur Road Kanchian to Amar Marbel; YPS chowk to Thikriwala chowk, Opposite Polo Ground (left hand side); from Sirhind Road to Jhill village; Bhadson Road to Seona Road along drain and Street Number 1 to 7 of Hira Bagh, Rajpura Road.

The main objective behind declaring these roads as commercial areas was to generate revenue in the form of the Change of Land Use (CLU) charges, and the composition fee to be charged from buildings that have come up on these roads where commercial activities are being carried out illegally. As per the government rules, an applicant is required to pay Rs 2,197 per sq yd CLU charges for getting a residential building converted into a commercial establishment. The CLU charges of Rs 2,197 per sq yd double if the building’s height is increased by 38 feet and 6 inches. The CLU rates are also increased by 10 per cent every financial year.

According to real estate agents in the city, with the declaration of a road as a commercial zone the land value goes up drastically. “Just imagine that CLU charges for a 500 square yard plot amounts to about Rs 11 lakh. If the government approves the resolutions passed by MC declaring the eight roads as commercial zones, civic body could generate crores in the form of CLU charges. These funds could be utilised for the development of the city and could change the face of Patiala”, said Patiala Municipal Commissioner Manjit Singh Narang.

Satish Goyal of Sara Group that deals in the realty sector, said, “How can real estate sector get a boost, when the sale and purchase of commercial properties is limited to just a few areas? Until and unless the government allows the setting up of commercial establishments on some roads, which are otherwise residential areas, the property business would continue to suffer.”

Expressing similar views, a majority of other property consultants also opined that in cities like Ludhiana, the real estate sector had witnessed a major boom because of the fact that the respective MCs of these cities had cleared the decks for commercial activity along roads in residential areas. This had increased the volume of sale and purchase of commercial property.

“If CLU charges for 500 sq yd area touch the figure of Rs 11 lakh, one can easily imagine that how much the land value would increase once the residential plot is converted into a commercial one. The value of the land would appreciate three-fold at least”, said another real estate agent Pradeep Khurana.

Though none of the above mentioned eight roads has been notified as commercial by the government as of now, commercial establishments have come up on all these roads in gross violation of the laws.

Though there is no data available about the exact number of “unauthorised” buildings or those in violation of building norms, the way illegal construction activity is going on in the posh Upper Mall Road area, it appears that the day is not far when this road will become a concrete jungle. “Patiala MC authorities have turned a blind eye to mushrooming of commercial buildings in residential areas like New Lal Bagh on Upper Mall”, rued Prithipal Singh and P.S.Bhinder who live in the said area.

Official speak

Patiala Municipal Commissioner Manjit Singh Narang said notices had already been issued to the violators and in certain cases demolition orders had also been passed. 

Multi-storey commercial buildings flouting norms

As per Patiala MC building bylaws, building plans for multi-storey commercial buildings are sanctioned only after the buildings meet all the conditions specified in the bylaws. What is worrying is the fact that PMC officials have not taken any concrete steps so far to check the construction of such buildings and to initiate stringent action against the violators. A majority of multi-storey building, especially restaurants, shopping complexes, showrooms etc, are not in accordance with the bylaws. As per the bylaws each building must have a fire lift, sufficient parking space, and an open staircase connecting all floors for fire safety. Besides, the details of exit points and location of generator. transformer and switch gear room have to be displayed prominantly. But hardly any building has these features.

What Punjab Municipal Corporation Act, 1976, says

According to Section 258 of the Punjab Municipal Corporation Act 1976, no person shall erect or commence to erect any building, or execute any of the works, except with the previous sanction of Municipal Commissioner, nor otherwise than in accordance with bylaws made under this Act in relation to erection of buildings or execution of works. Inquiries show that all commercial buildings on YPS chowk to Thikriwala chowk, and from Gurdwara Dukhnivaran Sahib to Madhu Clinic have come up without the sanction of any building plan.

Zero in on perfect office space
Harinder Singh

For those looking for a new office space area availability and budgeted rentals are the most important considerations. These two, no doubt, are the primary factors that one should keep in mind while selecting office space , but there are some secondary aspects, too, which can largely affect your daily operations and manpower productivity.

Analysis of neighbourhood profile, branding and visibility, infrastructure, communal facilities and security issues were more prevalent in retail sector, but with a new wave of multinationals and coprorates establishing themselves with large area requirement the scope of decisions in commercial real estate in India is undergoing a change. Besides, the average term of lease varies from three to nine years, with most of the conventional leases for corporate confirmed for nine-year contracts. Long term perspective further underlines the need to conduct an essential check on a series of external factors that influence businesses directly or indirectly.

Legally titled papers

Review each document, including approvals for possession, carefully. Confirm whether the landlord has authenticated title papers and he has legal rights to further lease/sell the property. If required, hire an experienced consultant who can offer you genuine advice on legal formalities or enroll your legal advisor to verify the documents of title of the property under consideration to avoid any misunderstanding or fraud involved in it.

Authorised power and water supply

Though most of the builders pose to have sanctions for power and water supply, it’s important to check the authenticity of their claims. It is difficult to run operations on power backup in the absence of regular supply. Additionally, fancy facades and marble interiors call your attention to check the profile and expertise of the facility management agency appointed by the developer. It is the agency’s responsibility to facilitate the physical operations of the building ranging from general repairs, cleaning, groundskeeping, plumbing, lighting, building maintenance and security. Review agency’s services and their charges which are usually referred as maintenance charges to be paid monthly or quarterly.

Infrastructure

Well constructed roads and developed infrastructure make it convenient for visitors and employees to reach their workplace in time without much hassle which, in turn, increases productivity. Betterment of infrastructure also ensures better property value in the long term. Also ensure that extreme weather conditions like heavy rainfall, storms, have no adverse effect on the building.

Security

As most crimes are directed toward individuals or offices that have little or no security planning in place, one natural concern and key priority is a space that is safe. The area around office should be well lit with enough streetlights and sufficient traffic movement most of the time so that employees, especially women, can feel safe at odd hrs as well. It can have a large effect on the morale of employees and can keep them motivated.

Visibility

Try to get better visibility on the building premises by obtaining prominent signage space on the building façade. Though landlords may grant permission in the first case, a consultant can help you by negotiating on such terms. A clear signage placed at a prominent location on the building will help in strengthening your identity and presence. In the case of buildings with wide frontage, a signage on the front side may come at a premium, but it is usually worth spending.

Neighbourhood

Check the neighborhood profile, quality of construction, availability of restaurants nearby; presence of premium properties and hotels adds value to the address. It is also the value of the location that will give you better chances of refinancing. There is also a need to look at its surroundings and anything that goes beyond the fence. Before you buy, research the neighborhood well.

Easy accessibility

It always pays to be near a public transit station. Try to select space with clear approach which is convenient to reach. Because most individual travel is related to some economic activity, it affects the performance of businesses in companies significantly.

Competition placement

Mapping competitor’s placement is significant for your business growth. You need to be at par with competitor’s approach else you may lose your customers to the other operators.

Check for residential set up

Residential areas around the office complex assure easy availability of manpower. The location in a declining area offers no scope for growth of the business and the company will not have the ability to obtain highly skilled employees.

Access to clients, vendors and dealers

If you have frequent visitors then you would want an address which is easy to find and logistically convenient for material transfer. The approach should be clear and quick.

Usually space occupiers have a tendency to focus on supply factor, market trends and prevailing rentals, conduct an empirical investigation and look beyond the wall and roof design to ensure an effective space acquisition.

A careful consideration of these factors will help you choose the optimal location for your office. Hiring an expert consultant always helps in locating the right space and conduct detailed investigations on minor and major points affecting the business in long term. Above all, a consultant can also provide you comparative analyses of all the property options available suiting your space requirements in the preferred location, negotiate lease terms, thus, ensuring that you get best value for every penny spent on real estate.

The writer is the Managing Director of Realistic Realtors Pvt. Ltd.

real talk
Integrated townships in trend

The trend of integrated cities has gathered momentum in the northern region and it reflects a significant change in the demands and expectations of home buyers. Sanjay Rastogi, who is Director of Saviour Builders Pvt. Ltd. and spokesperson of Gaur City project that is coming up in the Noida Extension area talks about this trend.

How relevant is the integrated township concept especially when we talk in the context of NCR region?

Nowadays, customers try to seek those properties or areas where facilities like playgrounds, hospitals, schools, and shopping malls are within their reach, and integrated townships fulfill these expectations. NCR has emerged as a favorite destination for mid-segment buyers and IT companies. In terms of transport, there is excellent connectivity between Delhi, Noida, Faridabad and Gurgaon through Metro now. Besides this NHAI is also working out a plan to widen the existing national highways which will further ease the congestion on roads and reduce the commuting time.

A lot of projects are coming up in the Noida extension and Greater Noida areas, what makes this area a hot destination for end users as well as investors?

The real estate sector is all about the NCR region. High prices and non-availability of space in Delhi has helped the developers in this area in a big way. Expectedly, the dividends spilled over to the NCR, which was soon flooded with malls, multiplexes, townships, various educational institutes, hospitals and clubs. Wide roads, lush greenery and huge open spaces add to the demand of this place. Infrastructure is very sound here and authorities have done marvelous planning. Good connectivity with Delhi and the increased demand for housing have caused a rapid expansion in areas around Delhi.

Launch of a number of projects in places like Noida, Greater Noida, Ghaziabad, Gurgaon and Faridabad has made developers go in for competitive pricing and this has made this area a hot destination for buyers looking for a dream house at affordable rates.

What is the ideology of your group?

To deliver the best houses as per buyers' needs in affordable segment and provide timely possession.

The choices of home buyers have undergone a huge change. How do you balance quality with affordability?

Since it's an end user market we have planned to build minimum size flats which can meet customer need as well as pocket both.

What factors should a home seeker keep in mind while selecting a particular builder or a project?

In this competitive market it is certainly a tough job for home seekers to make the right decision. They, however, have to resist the temptation of saving a few thousand rupees and cross check each and every claim of the builder. The main points are:

1. Legal possession of the land

2. Sanctioning of the map.

3. All the concerned NOCs

4. Last but not the least, builder's profile and their delivered projects.

What are your comments on the overall real estate scenario in the country?

This sector has seen a healthy revival in the past few months. With the economy coming out of the recession and expected to grow at the rate of 8.5% in the current financial year, this is the right time to take an action for those who have been waiting for sometime now to purchase a house. As real estate is one of the crucial requirements to achieve high economic growth, it is definitely the safest investment to make in the country in all terms.

— As told to Geetu Vaid

REALTY BYTES
Realty conclave

The four-day International Property Affaire and Realty Conclave opened in Gurgaon earlier this week (to conclude today). Industry captains and the who’s who of the real estate world converged on a single platform with the sole aim of bringing transparency and accountability in the real estate market.

India’s top-notch real estate developers, financiers, associates and service providers participated and showcased their existing and upcoming properties at the conclave.

Based on the theme ‘Transforming Realty through Corporate Social Responsibility Initiatives’, the brand vision of Gurgaon 2020 was to make it one of the 10 best cities in the world and this requires commitment to the cause of CSR which is about contributing back to the society.

Organised by the Real Estate Developers Council (REDCO) Haryana, International Property Affaire and Realty Conclave as a part of the Gurgaon Shopping Festival, this exhibition was termed as India’s largest and most prestigious real estate exhibition.

Major developers like DLF, Unitech, Emaar MGF, Ambience, Bestech, Raheja participated in the event, and also launched REDCO Property Guide for the residents of Delhi-NCR region.

According to Col. (Retd) Prithvi Nath, Honorary Secretary, Redco, Haryana, emphasized that, “International Property Affaire and Realty Conclave provided an unprecedented opportunity not only to the industry players but also to the visitors who got firsthand experience of meeting the leading real-estate developers, financiers, associates and interior designers under one single roof.”

“It is a unique concept in the real estate industry which will provide complete assistance from experts on matters related to all property needs to end consumers. It will also offer customised real estate packages with financial assistance and assurance with 100 per cent transparent dealings. In one word, it is your one-stop-shop for real estate investment solutions in India,” said Sandeep Kapoor, Managing Director, Relio Quick India Pvt. Limited, who executed the event.

Supertech IPO

New Delhi: Real estate firm Supertech will be launching initial public offer (IPO) in the next 12-15 months to raise Rs 2,500 crore.

The Noida-based developer has appointed global property consultant Knight Frank for valuation of the company.

“We plan to bring IPO in the next 12-15 months. We have hired Knight Frank for valuation of the company,” Supertech Chairman and Managing Director R K Arora told reporters here after unveiling a new corporate logo in New Delhi earlier this week.

Supertech, which is currently developing 35 projects worth Rs 10,000 crore in Uttar Pradesh and Uttaranchal, plans to file the draft red herring prospectus (DRHP) with market regulator SEBI in the next 6-8 months.

Asked about how much funds would be raised, he said: “The valuation of the company is being done. But based on initial estimate, the IPO size would be of Rs 2,500 crore. The company would dilute stake up to 20 per cent”.

Emaar MGF, Ambience, Sahara Prime City, Lodha Developers are among other developers who are planning to launch IPO.

The fund would be utilised for pan-India expansion. “We will soon be launching two housing projects in Mumbai and Bangalore. We will build 1,800 units over 150 acres.

The company has tied up with land-owner,” he said.

The company would invest Rs 500 crore on Mumbai housing project and another Rs 200 crore in Bangalore.

Besides real estate, Supertech is planning to increase its presence in the hospitality sector. The company is bringing three Carlson Group of hotels in Rudrapur, Haridwar and Meerut having a total of 350 rooms. These three hotels would be operational by March 2011.

It would come up with its chain of budget hotels ‘Hyphen’ in Meerut. Currently, there is one budget hotel in Haridwar. — PTI

99acres.com ties up with Singapore portal

New Delhi: Realty portal 99acres.com announced its association with Singapore’s leading property portal propertyguru.com.sg.

Under the agreement, an international menu tab with ‘Singapore properties’ link has been introduced on the 99acres.com website which will direct consumers to propertyguru’s home page, the company said in a statement.

In addition, an ‘India’ link has been added to the international section of propertyguru site that will drive users to 99acres.com homepage.

“This collaboration will help serious buyers and investors in India access exclusive property classifieds of Singapore. Joining forces with experts will mutually benefit both the partners and will enable each of us to offer our users a simplified property search experience,” said Vineet Singh, Business Head for 99acres.com. — PTI

M2K unveils new condominiums

New Delhi: M2K group has unveiled plush new well appointed units within their flagship project Victoria Garden, in the heart of the Delhi at Ring Road, adjoining Model Town. Ensconced in the mid of the concrete jungle, Victoria Garden is one of the biggest projects of its kind from M2K in Delhi. According to Manoj Kumar, Vice-President, M2K Group, “The continued support and success of Victoria Garden has inspired the company to present new units in what is already, a landmark in Delhi. And since there are severe limitations on availability of space in Delhi, this might perhaps be the last opportunity for anyone to possess a high end apartment and live a lavish life in the heart of Delhi.”

M2K already has several projects, including multiplexes and housing projects in the Capital. Some of the successful projects of the company are White House, Symphony Floors M2K County at Dharuhera, M2K Corporate Park Shopping Plaza, and Victoria Gardens among others. 

Acquisition of agricultural land

Q. Section 4 was imposed on our agricultural land in January 2002, and ultimately land was acquired by HUDA via Section 9 in January 2005. We filed a case for more compensation in the court against HUDA. The court ordered HUDA to give more amount to the land owner. But HUDA, besides giving us the amount, also deducted TDS of Rs 47,00,000 from our amount.

My quieres are as under:

n Is it right that no tax can be deducted if the land which is ancestral and is being used for agricultural purposes two years prior to the notification of Section 4?

n Can we get our deducted tax refunded?

n We had been cultivating this land prior to 1980 till 1999. It is our ancestral land, but our land was vacant from 1999 till January 2002, the year in which Section 4 was notified before 1999 crops are shown in farad. Onwards farad shows (khali) i.e. without crop. That was because animals used to destroy crops so we did not cultivate it after 1999. Can we still claim the tax rebate?

n Also I have heard that some ruling of Supreme Court has come in 2009 that compensation awarded to farmer by court or HUDA is part of land acquired. Hence no tax can be deducted. Is it true?

n If the land is banjar, kadim or khali as shown in farad. Can we still get our TDS refunded?

— Ravinder Kumar

A. The facts in the query are not complete as you have not indicated whether the agricultural land was situated within the jurisdiction of municipality etc. or in an area within such distance, not being more than 8 km. from the local limits of any municipality etc, as has been notified by the Central Government having regard to the factors specified in Section 2(14) of the Income Tax Act 1961 (The Act). Agricultural land which is not situated within the jurisdiction of municipality etc. or is beyond the notified distance from the local limits of municipality etc. is not treated as a capital asset and capital gain arising on sale of such a land is not exigible to tax.

Section 10(37) of the Act inserted by Finance (No.2) Act, 2004 effective assessment year 2005-06 exempts any gain arising on the compulsory acquisition of agricultural land which is situated within the jurisdiction of municipality etc. or within the notified distance provided the following conditions are satisfied.

Such land during the period of two years immediately preceding the date of transfer was being used for agricultural purposes by an HUF, or an individual or his parent.

Such transfer is, by compulsory acquisition under any law, the consideration of which is determined or approved by the Central Government or Reserve Bank of India.

The gain from such compensation or consideration for transfer has arisen on or after April 1, 2004.

The compensation or consideration for above purposes includes enhanced compensation decided by a court or Tribunal or other authority.

From the facts given in the query it is clear that the land was not being used for agricultural purposes during the last two years. Therefore, if the agricultural land (whether capable of being cultivated, banjar or khali) was situated within the jurisdiction of the municipality etc. or within such distance as has been notified by the Central Government, you would be liable to pay tax on capital gain arising on compulsory acquisition of such a land. Tax deducted at source would be adjusted against the amount of tax payable by you on the gain arising on the compulsory acquisition of agricultural land. 

TAX TIPS
S.C. Vasudeva
Rectify mistake

Q. I have thrown my individual property as corpus into the pool of HUF. The property is inherited by me from my father by way of Will. I came to know later on that I have done wrong after reading your column that it  will attract section 64(2) of IT Act. A piece of land of the above mentioned property had been acquired by NHAI for Rs 16 lakh in financial year 2007-2008. I have not claimed exemption under Section 10 (37) under IT Act, instead I have purchased REC bonds for Rs 12 lakh to claim deduction under Section 54 in the name of HUF. I have furnished PAN of HUF to obtain form 16 A. I have filed the return for the said income as karta of HUF in respect of compensation of Rs 16 lakh. The value of land was Rs 2 lakh. The balance is Rs 14 lakh. Deduction was claimed under Section 54 by investing Rs 12 lakh in REC bonds. Now will I get deduction under Section 54 or total  income Rs 14 lakh will be clubbed with my individual income or only taxable income will be clubbed i.e. Rs 2 lakh. I am filing my return from rental income as HUF from above said properties. Please let me know how to rectify mistake in future. If there is any remedy for past mistake?

— Deenanath

A. Section 64 (2) of the Income Tax Act 1961 (the Act) provides that in case an individual has converted his individual property with an act of impressing such individual property as a property belonging to the family, the income derived from such converted property or any part there of shall be deemed to be the income of such individual and not of the family. On the basis of facts given in the query, the taxable amount of capital gain and any other income arising from such property shall be deemed to arise to you and the same would be taxable as your income.

The amount of capital gains will be computed by taking into account the indexed cost of the plot of land which has been acquired by National Highway Authority of India and deducting such indexed cost from the amount received as compensation. If such cost was Rs 2 lakh, the amount of capital gain would be Rs 14 lakh. In case the amount of capital gain so computed is Rs 14 lakh, tax saving bonds having been purchased for Rs 12 lakh, you would be entitled to the proportionate benefit computed in accordance with the provisions of Section 54 F (1) (b) of the Act. You should henceforth start including the income from converted property as part of your income for the purpose of filing your tax return. The error in respect of earlier years can be rectified by filing a reversed return which can be filed within one year of the end of the assessment year. The years in respect of which a reversed return cannot be filed on account of limitation as mentioned herein above, a letter may be filed during the course of assessment proceedings requesting him to regularise the assessments by initiating an action under Section 147 of the Act.

Rolling over LTCG

Q. I am working in foreign shipping maintaining NRE status. I purchased my first house in Gurgaon in 1988 from NRE account, and a second house in Dehradun in 1993 after taking permission from RBI foreign exchange department, which was granted. I am still maintaining NRE status. I want to sell my house at Gurgaon and purchase a house in Chandigarh before April 2012. Please advise:

n If I can roll over the LTCG for buying second house in Chandigarh?

n Should I need to take permission from RBI/IT department again to buy the second house?

n I have plans to stay in India in future and don’t want to repatriate money from my sale deeds.

n If I sell the Gurgaon house after April 2012, then what are the changes as per new DTC in respect of LTCG?

n If I have to pay wealth tax for owning two houses as an NRE.

— Shantanu

A. Your queries are replied hereunder:

You can roll over the long-term capital gain for buying a residential house in Chandigarh. However, the roll over must be within the specified period and by following the requirements of deposit of unutilised amount of capital gain in a bank account under capital gain scheme before the due date of filing tax return. Such account can, thereafter, be utilised for purchasing a house in Chandigarh.

No permission would be required from tax department or RBI for the purchase of a residential house. The consideration for such acquisition should be out of funds received by inward remittance through normal banking channels or by debit to your NRE/FCNR(B)/NRO Account.

Direct Taxes Code does contain a provision for roll over. The period of roll over has, however, been curtailed. You would, thus, be entitled to such a benefit after April 1, 2012.

In the given case computation of the capital gain under Direct Taxes Code would be made by deducting the following amounts from the full value of consideration accrued or received as result of the transfer of the capital asset (referred to as investment asset in the Code):

The indexed cost of acquisition

The cost of improvement, if any

The amount of expenditure incurred wholly and exclusively in connection with the transfer of the asset.

The amount of relief for roll over of the asset.

The deduction in respect of roll over amount shall be computed in the following manner:

Ax (B+C+D)/E

Where

A= the amount of capital gains arising from the transfer of the original investment asset;

B= the amount invested for purchase or construction of the new asset within a period of one year before the date of transfer of original investment asset;

C= the amount invested for purchase or construction of the new asset by the end of the financial year in which the transfer of the original investment asset is effected or six months from the date of transfer, whichever is later;

D= the amount deposited in an account in any bank by the end of the financial year in which the transfer of original investment asset is effected for six months from the date of transfer, whichever is later in accordance with the Capital Gains Deposit Scheme framed by the Central Government;

E= the net consideration received as a result of the transfer of the original investment asset.

Wealth tax shall be payable under the Code in respect of the second house if the same has not been let out for a minimum period of 300 days during the financial year. 

GREEN HOUSE
Last call
Satish Narula

When I say the wait is over, the gardeners know what I am talking about. This is the time when the gardeners can start planting the winter annuals as this is the time to look forward to for various activities.

For estate agents this is the time to decorate their estates to present a "pretty picture" to potential customers. This is also the time for institutions to do planting with an eye to participate in the forthcoming flower and garden competitions. The marriage palaces can quote higher rentals when these are tastefully decorated, of course with plants. But make sure you do it the right way and not make a mess of it.

If you have not yet chalked out your planting plan, then this is the final call. You can't afford to delay it any further. Any delay might mean losing the season or the beds will not put forth their best. There may be gaps, uneven growth in the beds due to different ageing or delay in growth. Planting done in a hurry may also not give its best due to the wrong placement of beds and species adjacent to each other.

First and the foremost consideration in planning is to consider the mass effect or appeal. In vast areas like estates, marriage palaces, clubs, institutions etc. the bed size should be large for each species. In case very large beds have to be made, then the species planted on the border area could be different from the main species. The border species should be very dwarf in nature. You can now get seedlings of most of the species to appropriately choose colour and height of the plants. But the more is the area allocated to a species the more particular one has to be about the level of the bed. It should be like a table top or else the growth in the bed will not be uniform. In case of slope, even when gentle, nutrients tend to get accumulated on one side of the bed providing extra nutrition to the plants on that side giving extraordinary growth. This will give poor quality bloom which may also be delayed as compared to those on the other side of the bed. You will, thus, get a bed that will be in full bloom in one half and the other half in a vegetative phase.

Watering in the bed should be very gentle. A harsh stream will again carry nutrients from one end to the other. It may also expose the roots of seedlings or carry the plants with them creating gaps that are difficult to fill at later stage.

In case artificial hillocks are made then the species of annuals selected should be those that need lesser water, last longer and are very hardy. It is not that water is not available but due to undulations, the distribution may not be uniform and it may affect the look of the bed. Species like mesembryanthemum (burf), nasturtium, phlox, petunia, daisy etc are good for such locations.

Make sure the planting of contrasting colour species is done side by side; this will give a good effect.

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

Fortnightly alert

The nip in the air heralds the onset of winter. The deciduous plants like peach, plum, pear, grapes, mulberry, fig etc are readying themselves to go to sleep (dormancy). At the most they may need one watering. After that watering has to be stopped completely so that they can shed leaves and go dormant. 

launch  pad
Jacaranda Crest

Falcon Realty Services Pvt. Ltd, a company actively involved in land acquisition and land consolidation in India for over two decades and a premier in green building design and architecture, has unveiled independent town homes called “Jacaranda Crest” as a part of its ‘Global Eco City’ project, which is coming up on NH-8. Jacaranda Crest is a set of independent homes with four, five and six bedrooms in the price band of Rs 1 crore and above.

Commenting on the new set of luxury homes in Jacaranda Crest, Bhim Yadav, CEO, Falcon Realty Services Pvt. Ltd. said, “It is almost after two years that the luxury residential space has started looking up. According to Cushman and Wakefield, over 8,000 residential units in the luxury segment are expected to be ready by 2013. The total supply expected this year will be 85,000 units of which about 14% will be luxury projects. Homes in Jacaranda Crest will be luxurious and exclusive and will be a part of our prestigious project Global Eco City.”

MAN Opus

Mumbai: The MAN Group has launched its premium residential project near the Dahisar check-naka, called MAN Opus.

The project that comprises 23-storey six towers along with separate parking facilities for each, is expected to set a new benchmark in privileged living.

The project is located on the Western Express Highway near suburban Dahisar check naka. It is also in close proximity to Dahisar and suburban Mira Road railway stations (3-kilometres each) and within the range of 25-minutes from the domestic and international airports.

In the backdrop of festival season and an overall boom in the real estate market, the MAN Group has received an overwhelming response from buyers, registering 45 per cent of total sales during the pre-launch offer.

Commenting on the launch, MAN Infraprojects’ Director, Nikhil Mansukhani, said, “Mumbai has barely any land left for development and demand for housing is increasing. Developers of the city will have to expand their horizon beyond mere construction and look for opportunities on the outskirts, where there is availability of land for mass housing with greater facilities and lifestyle coupled with the developing infrastructure facilities. Taking this thought forward, MAN Group has launched MAN OPUS near the Dahisar check-naka.” — PTI

India may face shortage of 26 mn houses by 2012

New Delhi: India will face a shortage of over 26 million houses by 2012, which would lead to spurt in housing prices as demand-supply gap widens amid rising purchasing power of the middle class people, a consultancy firm has said.

"With India back on a high growth trajectory, demand for commercial and residential space is likely to witness an upward trend," consultancy firm Ernst and Young said in a report.

Demand for residential property is rising sharply because of growing young working population, increasing urbanisation, declining household size resulting in more nuclear families with growing household income and improved availability of loans.

Co-chairman of FICCI Real Estate Committee Pranay Vakil said over $1.2 trillion investment was needed to meet the rising demand for urban development.

He said that the urban population in India would nearly double to 600 million in the next 15 years from nearly 350 million now, and this would put massive pressure on urban infrastructure, including roads, power and water supply.

Dean Hodcroft, partner-head of real estate for Europe, Middle East, India and Africa at Ernst and Young, said India needed institutional reforms to attract more investments in infrastructure development projects.

He said the country's macro-economic fundamentals were in great shape and it was poised to reap huge benefits of growth. "India needs to fix the institutions to attract more private investments, including foreign investments," he said.

Comparing the investment climates in India and China, Hodcroft said: "While it is easy for investors to get into China, it is extremely difficult to get out. In contrast, it took time for foreign companies to enter India, but exiting is comparatively much easier."

He noted that India was lower ranked in areas that were easy to fix. — IANS