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On a shaky GROUND
tax tips
LAUNCH PAD
REALTY GUIDE
IN CONVERSATION
Small cities, big potential
Top investment
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On a shaky GROUND
The year 2011 is proving to be a good year for the realty sector in Sangrur and Barnala districts with a number of colonies coming up in the twin districts. However, the mushrooming of unapproved colonies has proved to be blot on the rosy growth path of the realty scene in these two districts. This has also created a lot of heartburn among the developers of approved colonies who feel that the large number of unapproved colonies would ultimately retard the development process in the area and may have a negative effect on property prices. State government has offered a number of sops to the sector to give it a boost. SAD government has not only reduced the minimum area stipulation for approved colonies from 25 to five acres, but has also slashed the development fee substantially. Jasbir Singh Grewal of Grewal Properties and Real Estate Sangrur, says "the government has decreased the minimum area requirement in case of small towns and has also slashed the external development fee from about Rs 8.45 lakh to Rs 4.85 lakh per acre in case of approved colonies outside the municipal limits (for approved colonies inside the municipal limits it is Rs 2 lakh per acre). These steps have given the much-needed boost to the realty sector in Sangrur. But in the unapproved colonies the developers are providing no facilities like electricity, roads, water supply and sewerage system and are, in fact, fleecing customers". Price Index "We, the approved colonisers, take so much pain and invest money (in the form of fees for getting forest clearance, no-objection certificate from the pollution board and for providing top class facilities to our customers) but the government has virtually failed to check the growth of unapproved colonies. This is very frustrating. The government should stop registration of the unapproved colonies, not provide electricity, water, sewerage connections and stop the development in these colonies in a strict manner",
suggests Grewal. Experts in the field suggested that the Punjab Urban Development Authority (PUDA), which can register an FIR against colonisers of such unapproved colonies outside municipal limits, should also wake up and take action in this regard. The Municipal Council that is authorised to act against unapproved colonies, too, should stop passing the maps and providing any sort of facilities in these colonies. The MC should also install display boards outside such colonies so that the customers don't fall into the trap of glib colonizers and agents. Another observer of the realty sector in the two districts said three approved colonies, including
Dreamland
He added that while the rate in approved colonies that have all the requisite facilities, in Sangrur is Rs 8,000 to Rs 9,000 per sq yd, in case of unapproved coloniess it is Rs 4,000 to Rs 6,000 per sq yd. The growth of unapproved colonies is more than that of the approved ones in Sunam and Malerkotla areas too. About five approved colonies have come in the Sunam area in the recent past whereas the number of unapproved colonies is around eight. In Malerkotla a 74 marla colony has come up near the Thandi Sadak area, while at least three unapproved colonies have come up this year in the area. Giving a brief scenario about the realty scene in Barnala, a property dealer of Barnala said unapproved colonies had outnumbered the approved ones in Barnala. The approved colonies which have come up there in the recent past include Dynamic Homes along Dhanuala road, West City along Bajakhaana road, a approved colony along Sanghera road and Ganpati Enclave along Handyaya road. Whereas the unapproved colonies which have come up in the corresponding time include a colony along Sanghera road, one near Noor Hospital along Thikriwaala road, a colony near Radha Rani colony along Sanghera bypass, Garcha road, a colony near Handyaya chowk, a colony near Inderlok colony, one near a pulley near a hospital along Dhanuala road, another one near the under construction overbridge, a colony near a poultry farm along Raikot road, a project near Trident factory and one near Jullar Kutiya. In spite of such massive development, the various government agencies seem to be passing the buck to each other. Deputy Commissioner Sangrur, Kumar Rahul, told The Real Estate, "We are taking the growth of unapproved colonies very seriously since it badly affects planned development of towns and cities. The district administration has asked SDMs to enquire into the unapproved colonies besides asking Municipal Council to act against the unapproved colonisers". "We are also planning action against the promoters of these unapproved colonies after deliberations with MC authorities, and other agencies", the DC said. The Executive officer of Sangrur Municipal Council Surjeet Singh while responding to the mushrooming growth of unapproved colonies in Sangrur said, "It is in our knowledge that unapproved development is taking place here", but he refused to divulge more on the topic. A source in the MC said that the body was keeping a watch on the unapproved colonies. Giving details of the action taken by the PUDA in case of unapproved colonies in Sangrur and Barnala, Amrit Gill, Additional Chief Administrator, PUDA Patiala range, said, "As per law we register FIRs against the unapproved colonisers with the police". She added that PUDA doesn't get much support from the police which fails to act in most of the cases. SSP Sangrur Harcharan Singh Bhullar, however, alleged that PUDA had never registered FIRs against unapproved colonisers. "If they are leveling such allegations against the police, then they should at least tell us in how many cases they have lodged FIRs and we haven't acted on those", Bhullar said. So while the government agencies' blame game continues, business is brisk in these unapproved colonies as investors are parking funds here in the hope that "all will be well" in the next few years and once the land is sold and people go ahead with constructions, the government will have no option but to provide the basic facilities and grant the necessary approvals to these colonies.
How colonisers take farmers for a ride
In majority of the cases where the colonizers have carved illegal colonies on farm land, they earn profit from the land by carving colonies without actually being part of the deal. The colonisers buy agricultural land by paying some amount in advance to the farmers without gaining ownership of the land. After that the coloniser looks for buyers for the land and when he gets the buyers he sells the land to them directly but the land is transferred from the farmer to the buyer directly. The coloniser then pays the balance amount to the farmers from whom he had bought the land. In this process the coloniser earns huge amount of money without actually putting himself at risk. The colonisers also earn more profit from the land as registration charges for agricultural land are much less than those for residential and commercial land.
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Cost of improvement
S. C. Vasudeva Q. The method of computation of Capital Gain also refers to the cost of any improvement thereto. What is meant by the cost of improvement? Can the Inflation Index be made applicable to such cost of improvement?
A. Cost of Improvement is the capital expenditure incurred by the assessee in making additions/improvement to the capital asset. The cost of improvement would also include any expenditure incurred to protect/complete title to such capital asset. The provisions relating to the application of cost inflation index to the cost of the capital asset are also applicable to the cost improvement. In such a case, the indexed cost of any improvement would be an amount which bears to the cost of improvement, the same proportion as cost inflation index for the year in which the asset is transferred bears to the cost inflation index for the year in which the improvement to the asset took place.
Expenditure on renovation part of total cost of house
Q. I have purchased a new flat in Gurgaon and have incurred expenditure on renovation. I have included the cost of this renovation for claiming exemption under Section 54 of the Act. The Assessing Officer, however, is of the opinion that the said amount is not part of the total cost of the house property, but is the cost of improvement. Such cost of improvement according to him cannot be taken as the cost of the residential house for claiming exemption under Section 54 of the Act. Please advise whether the action of the Assessing Officer is correct? A. Section 54 of the Act provides where a long-term capital gain arises on the transfer of a residential house, and the assessee has, within the specified period of the date, on which the transfer took place, purchased a residential house then the capital gains arising on such sale would be exempt to the extent of investment in the purchase of the new residential house. In my opinion, therefore, the term 'purchase' should include other necessary expenditure to make the residential house habitable and should be taken together with the cost of the new house. The Hon'ble Tribunal in 83 ITD 649 has held that in case a residential house is in a state of general disrepair and is not habitable, then the necessary repairs carried out to make the same habitable would constitute part of the cost of the new house for the purpose of claiming exemption under Section 54 of the Act.
Deduction on house rent
Q. I am a salaried person and am paying a rental of Rs 5,500 per month. I am staying these days at Karnal. The employer is not paying any HRA towards my house rent but I am getting a consolidated salary of Rs 45,000 per month. Am I entitled to any deduction of house rent paid? — Kamal A. In accordance with the provisions of Section 80GG of the Act, the deduction in respect of house rent paid by an assessee is allowable subject to the following: An amount of Rs 2,000 per month. *
25% of the total income for the year excluding long-term capital gain. * Amount of rent paid by the assessee in excess of the 10% of the total income before allowing any deduction under this Section. The deduction allowable under the aforesaid Section is limited to least of the amount computed as above. However, above deduction is not allowable where *
a residential accommodation is owned by the assessee, his spouse or minor child or HUF of which he is a member, at a place where the assessee ordinarily resides or performs duties of his office or employment or carries on his business or profession; *
the residential accommodation is owned by him at any other place and the assessee claims that the same is self occupied property thus having nil annual value; and *
the assessee is receiving house rent allowance from the employer. Presuming that you meet the conditions for allowability, the deduction allowable to you would be as under: 25% of Rs 45,000
Rs 11,250 Amount in excess of rent paid over 10% of income Rs 5,500 - 4,500 Rs 1,000 Maximum amount Rs. 2,000 The deduction allowable in your case thus would be Rs.1,000 p.m. For claiming deduction you should file a declaration in Form 10BA along with the return of income.
No rebate on rent
Q. At present I am working in a public sector undertaking in Gurgaon and during July-2010 I was transferred from Mumbai to Gurgaon. I am staying in Gurgaon alone in a rented house and paying Rs 10,000 per month as rent from July-2010 onwards I have a residential flat at Mumbai that I had purchased after taking loan from bank during 2007 and my family is staying there. The same is, therefore, reflected as self-occupied in my tax return. I am paying EMI to bank every month and am claiming tax benefit against interest to the tune of Rs 1,50,000 and benefit under Section 80C towards the principal amount. My query is: Apart from tax benefit, which I am claiming since 2007 under house loan from bank towards interest as well as principal amount, am I entitled to claim benefit towards rent I am paying to my landlord at Gurgaon from July-2010 onwards, if so under what clause and what will be the tax benefit. — Venkat A. In accordance with the provisions of Section 80GG of the Act, you are not entitled to the deduction of the house rent paid at Gurgaon. This is because the above-mentioned Section contains a proviso that in case any residential accommodation is owned by the assessee at any other place which is in his occupation and the annual rental value of which is being determined as 'NIL' being self-occupied property, no deduction shall be allowable under the aforesaid Section to an assessee for the amount of rent paid for his accommodation at a place other than that where the house is owned by him.
Capital Assets
Q. Kindly let me know what is meant by the term "capital asset" for the purposes of computing the capital gains? — Pradeep n Any stock-in-trade, consumable stores or raw material held for the purposes of business or profession. n Personal effects of the assessee, that is to say, movable property, including wearing apparel and furniture, held for his personal use or for the use of any member of his family dependent upon him. However, the following personal effects are treated as capital assets. *
jewellery * archaeological collections * drawings * paintings * sculptures or *
any work of art * Agricultural land in India provided it is not situated - *
in any area within the territorial jurisdiction of a Municipality or a Municipal Corporation or Cantonment Board, having a population of 10,000 or more; or * 6 ˝ per cent Gold Bonds, 1977 or 7 per cent Gold Bonds, 1980 or National Defence Gold Bonds, 1980 issued by the Central Government. *
Special Bearer Bonds, 1991. * Gold Deposit Bonds issued under Gold Deposit Scheme, 1999.
Q. What is meant by transfer of a capital asset? — Anand A. In accordance with the provisions of Section 2(47) of the Act "transfer", includes the sale, exchange or relinquishment of the asset or extinguishment of any rights therein or the compulsory acquisition thereof under any law or in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried on by him, such conversion or treatment or the maturity or redemption of a zero coupon bond. The term 'transfer' for the purpose of capital gain tax also includes *
Giving possession of immovable property under part performance of a contract. *
Any transaction which has the effect of transferring the immovable property. This clause is subject to the satisfaction of the following conditions: *
The transferor is a member of a cooperative society/ company/ association of persons *
An allotment of immovable property is effected by virtue of the membership or allotment would be made by virtue of such membership. *
The membership right is transferred which has the effect of transferring or enabling the enjoyment, of the aforesaid immovable property.
Value assessment
Q. I understand that there is a possibility of full value of consideration being substituted by the value adopted by the stamp authority? If so what are provisions in this regard? — Harinder A. Section 50C of the Act was introduced w.e.f. assessment year 2003-2004. The Section provides as under: *
There is a transfer of land or building or both. The capital asset may be long term or short term. *
The consideration reflected in the sale deed is less than the value adopted or assessed or assessable by any authority of the state government for the payment of stamp duty hereinafter referred to as 'stamp duty authority'. If the above conditions are satisfied, the full value of consideration will be as under for various situations: *
Where the assessee accepts the value adopted by stamp duty authority, such value is taken as full value of consideration. *
Where such valuation is disputed by the assessee, the value finally assessed or assessable is taken as a full value of consideration. *
Where the assessee claims that the value assessed or assessable by stamp duty authority is more than the fair market value. - fair market value determined by the valuation officer (if the same is less than the stamp duty valuation) is taken as full value of consideration. - in case the fair market value as determined by the valuation officer is higher, the value assessed or assessable by the stamp duty authority is taken as full value of consideration. The Valuation officer in this Section means the Valuation officer as appointed under Section 16A of the Wealth-tax Act 1957.
The writer can be contacted at sc@scvasudeva.com
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INDEPENDENT FLOORS
AIPL AMBUJA Housing and Urban Infrastructure Limited has launched independent floors in its DreamCity project in Amritsar recently. Until now only plots and independent villas were available in the project, but now the concept of "Luxury becoming affordable" has taken shape. Buyers can now choose to enjoy the privileges of a luxury upscale living by investing in Independent Floors- built on 250 sq.yd, 325 sq. yd and 357 sq. yd plots. The price will start from Rs 35.99 lakh onwards. All DC floors will feature Neo-Victorian architecture with generous interiors of high ceilings and spacious rooms. Each floor has been finished with closed attention to detail. A high-end material from vitrified tiles to marble to granite has been sourced from leading manufacturers thereby ensuring the best independent living. The group also has a project in the twin city of Gobindgarh and Khanna, under the brand name "DreamCity". E Square Supertech Limited recently launched "E Square", a premium new age retail-cum-office complex in Sector 96, Expressway Noida. E Square is spread over an area of around 7724 sq. mtrs. and will be built up on 5.5 lakh sq. ft. of the total area with G+UG Floor+24 floors. The project will be a mix of retail and upscale offices and entertainment zone. The size of the office spaces will range between 520 sq. ft. to 15000 sq. ft. The price of the plots is approx. ` 7300 per sq. ft. Located amidst the residential and IT hub of Noida, the project is just 10 minutes drive from Delhi and walking distance from the proposed Metro Station. The construction of E Square will start shortly and is expected to be completed within 24 months.
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Price correction
B K Sanghi Q. Is speculative demand is fueling unprecedented price hikes in tricity? Will there be any price corrections in the reality market in tricity in near future? — Karan Goyal A. In tricity, the demand has always outstripped the supply.It is because of this that unlike the metros the speculative demand is not fuelling the price hike here . Since the tricity provides world class living standards at Indian prices, despite some speculation in the property prices speculation alone does not guide realty rates here. As regards the answer to your second query, price correction is not going to happen in the near future. In fact, when supply is less and the demand is more the chances of the price corrections are always almost nil.The prices of the property in Chandigarh, Mohali and Panchkula have risen tremendously in the recent years and price correction is not likely in the near future simply because too many people are chasing too few properties. Wise investment
Q. Kindly answer my
questions: 1. Does the adage “Fools build houses and the wise live in them” hold true in the present times? 2. There are so many people who want houses yet is it possible to meet the growing need? — Kanchan Mehra A. The adage “fools build houses and wise live in them” is losing its relevance in the present times. As property is the best investment today. Returns from property are much more now. Moreover, awareness about the legal safeguards about your property ensures that your property gives you better returns without the fear of losing it to your tenant and occupier. The system of lease rent and owner friendly arrangements with the corporate sectors also rules in favour of the owner. Providing home to millions of people in India is , no doubt, a daunting task. With land becoming scarce, multi-storey flats seem to be the best bet for providing roof over the head of the teeming millions. With home finance becoming affordable and intense competition among the builders on the price front, house is no longer a luxury. The government and, toa certain extent, private builders have also taken up the job constructing houses for the poorer sections of society as part of their social commitment.
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Time to redefine architecture
Geetu Vaid
How has the field of architecture changed in India in the span of your career? Architectural practice is fast emerging as a complex and integrated multi-disciplinary and multi issue-based services, while creative design remains at the core. Architectural schools train and equip the minds of student architects to the sensitivities of design as a creative art form being able to conceptualise spatially with a balance of integrating components such as analysis of functional aspects of design, applied technology and building physics as a context based problem solving skill. Moving into practice, an architect gets to grapple with issue based realities as his/her output gets translated to built forms. The test that remains mostly unanswered is how not only the built forms but also the spaces in between impact the cityscape and user wellness. While the impact of development on environmental issues are beginning to get well researched and documented, little do we realise that architecture is evolving to a plane of environmental design that has a far reaching effect. The coming decades, in my view, will challenge the way we train and practice architecture. Are we doing enough on how the profession, individually and collectively, will cope and get on top of this challenge? If we do not, as a responsible profession, time and society will not wait for us to evolve but look elsewhere. Who else is better placed than architects to strike a balance between built development and sustainable environment? There is a need to redefine architecture and architect's role in society. The important issue today is the design of the environment. Architects must redirect their energies toward an environmental architecture, born of human needs and responding to vital physical, social, educational, and economic circumstances. What is your design philosophy and how you put it in practical use? Sustainable development is good business practice from the social, economic and environmental perspective and has become an inevitable reality at all levels of economic integration raising huge challenges for sustainable management of the environment and natural resources. Given, that the world is challenged by a changing climate, biodiversity loss, abject poverty and environmental degradation, Sustainable Development is the only way we can make a difference. Inherent in CRN's Design Philosophy is its focus on understanding the interrelationships between the building, its components, its surroundings, and its occupants, with a view to avoid : consuming more resources than necessary; negative impact on the environment and generating large amounts of waste. The firm's prime design goal has and continues to be to achieve high levels of building performance showing efficiency in water, energy and building resource management while providing the best indoor environment. What is climate-responsive design and how can it be incorporated in buildings around us? Climate Responsive Design simply put, is designing with the project's eco-context in mind, factoring in climate related characteristics of the Project Site while aiming to deliver the best quality and comfort for its occupants with little environmental impacts. These can be delivered by incorporating passive architectural design strategies, while minimising the need for electro mechanical interventions. What does future hold for architecture in India? Architects are directly linked with the built environment. Their work is not restricted to a particular site within the confines of the boundary wall around the periphery. The influence of an architect goes far beyond the above boundaries. Naturally, architects, through sensitivity to climate oriented design, people centric design, environmentally friendly design and an eco-centric approach can contribute substantially, not only to the well-being of those who use the facilities designed by architects but also achieve more for less in terms of natural resources, energy and conservation of eco systems. In the coming years, the two factors above, namely design for people and design for environment will be the two key focus areas which the budding architects should strive to excel through a combination of innate design skills and integration of better understood technology.
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Small cities, big potential
What is the growth potential of the hospitality sector in India in general and the region in particular? The growth of this sector has been very positive and robust over the past few months. After the 2009 downturn things are looking up all over the country. Revpar (revenue per available room) has shown double digit growth. Though different markets react differently and across the country, there has been a 10 to 15 per cent growth in revenue generation. As there is a wide gap between demand and supply as far as room availability is concerned, the growth graph will continue its upward march in the next few years also. What are the new trends that you foresee in this industry for this decade? This is a very dynamic sector as trends keep evolving as per the needs of end users. One major trend that I foresee is the shift in focus to the secondary and tertiary markets. Almost all the major groups are now willing to exploit the potential of these markets rather than just concentrating on the primary gateway cities. This shift will certainly give a new perspective to the luxury as well as mid-segment properties and will broaden the customer base and open new avenues for revenue generation. India traditionally has limited hotel room supply. One interesting factor is that hotel room supply is limited to five-star accommodation or the guest house rooms. There is hardly anything available to cater to the needs of the middle segment. India has 1.5 to 1.7 lakh hotel rooms as against China’s 1 million and 4 million in the US this shows how low we are in room availability. There are just 70,000 branded rooms available so there is a vast scope for expansion which is what we would see in the next few years. What is the potential in tier II cities? Smaller markets have immense potential. Actually the secondary and tertiary markets are outperforming bigger markets. So cities like Chandigarh, Ludhiana, Jaipur etc are profitable destinations for major hotel chains. Our properties in Ahemadabad, Pune and Gurgaon have drawn tremendous response. The hospitality sector in the region is witnessing a lot of activity with many international chains coming in, what are the reasons for this? The region has always been a prosperous part of India with people having exposure to international levelhospitality trends. The large NRI population too makes the region a profitable option for major players in the field. Rising income levels and a better economy along with growth of IT and other industries are the other factors which have driven up the demand for quality hotel accomodation. People are travelling more and tourist traffic too has increased. There was time when Chandigarh had two or three flights only but now there are at least 10 flights between Delhi and Chandigarh in a day so there certainly is more demand now. Which are the other projects your group is coming up with pan India and in the region? We have 12 hotels open and by the end of the year we will have 16 more properties and there are 32 more projects on the anvil. What is the USP of Marriot’s Chandigarh property vis a vis competition? Chandigarh property is the true luxury hotel in Chandigarh. Marriot is giving a true international luxury platform to the City Beautiful. The Rs 300 crore JW Marriott property is the second hotel by the Marriot International group of hotels in India under the brand ‘JW Marriott’. It will have 165 rooms apart from restaurants, health club and convention hall etc. We want to provide something exclusive to the local community. Our focus is to make JWMC a part of the city’s overall character and that has been our focus and USP. As told to Geetu Vaid
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Top investment
With Gurgaon, Sonepat, Faridabad and Panchkula humming with commercial and residential building activities, the real estate emerged as the most favourite sector for investors in Haryana in 2010, an Assocham study said.
Of the total investment of Rs 4.3 lakh crore under implementation, real estate accounted for Rs 2.4 lakh crore, it said. "Real estate industry got the lion's share of 56 per cent of the total live investments", the industry body said in its strategy paper on investment in the state. It said Rs 2.4 lakh crore were invested in major cities like Gurgaon, Manesar and Faridabad. "Bulk of investments was in Gurgaon, which is a critical hub of 500 companies with their back end operations here", Chairman of Assocham's northern region development council Lalit
Khaitan said. Besides Gurgaon, private builders are active in developing and selling real estate in the NCR towns of Sonepat, Faridabad and Bahadurgarh. Panchkula near Chandigarh is
also witnessing real estate boom. He said the state government needs to come up with policies keeping in mind issues like sanitation, environment and civic maintenance, so that the investments remain attractive in the long run. Services and electricity were the other destinations of investment,
it said. "Services and electricity attracted 25.2 and 13.5 per cent investment, respectively", the
paper said. The overall investments grew by 20.3 per cent over last year's Rs 3.5 lakh crore, it added. Khaitan said the major problem in the growth of the state is power. He said: "Power and land acquisition are among major impediments. Acquisition of land should be between buyer and seller. The land must be sold at market price and it should not be an agricultural land". — PTI
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Potted plants need extra care
Satish Narula The blistering summer sun adds significantly to the worries of gardeners. With each passing day the temperature rises and plants need more water. Low pressure and general scarcity of water generally leaves many parts of a garden dry. Moreover, there are restrictions over watering the gardens in the morning hours. In a way the restriction on watering the plants and gardens in morning hours is good. We advocate the application of water in late evening hours. By that time it is cool and the plants take up water with efficiency. There is no danger of the roots getting 'burnt'. Also there is a stretch of a few hours for the plants to recuperate and gain strength to brave the next day's heat. However, we have to do our bit to manage the bad times. Let us start with the potted plants. Potted plants need extra care as the soil in pots dries up fast because unlike garden soil there is no groundwater to keep it loist naturally. So if you don't water pots regularly the plants will get absolutely no water. Thus one has to be extra cautious with potted plants. The first and the foremost consideration is to keep the plants in shade wherever it is available in the home garden. The shade loving plants should never be left out in direct sun. Plants that are the most vulnerable to summer assault are dieffenbachia, dracaena, aphilandra, philodendrons and palms. Their due for the daily dose of water is more than what they can get from the earth. The scarcity of water worsens the situation. So it is better to fix priorities in the potted plants too. Some of the plants like asparagus, Ficus species plants, some of the cacti could also be given rest for a day or two. Cacti is being mentioned here specifically as many gardeners follow the myth that cacti don't need much water. The home specimens should be watered regularly, almost on a day-to-day basis preferably at night time. Plants do still better if placed in a transparent cover that allows a good supply of air from the sides. Over a period of time the soil in the pot becomes hard surfaced. When we water the pots these seem to fill up very fast. But, in fact, it is not so as the hard surface of the soil doesn't let the water seep into the deeper regions from where the roots can soak up water. Because of this sometimes plants wither in spite of being watered regularly in summers. For this, water the plants in pots at least thrice starting from one side and coming back again and again. It is still better if you could cover the surface soil in pots with some material like grass shavings, leaves, wood shavings or moss grass. Do not put stones on the surface of pot soil as they catch heat and burn the superficial roots. Keeping plants in groups also helps in conserving moisture and keeping the micro-climate better. An occasional syringing (washing) of plants by making a jet with a hose pipe is also good for their growth. (To be concluded) This column appears fortnightly. The writer is a senior horticulturist at PAU and can be reached at satishnarula@yahoo.co.in
Fortnightly alert
Zinc deficiency in citrus plants is quite visible as mottling of leaves where in the veins remain green and the rest of the leaf turns yellow. There is smalling and bunching of leaves too at the terminal giving broom effect. Zinc deficiency could lead to poor fruit development, premature fruit drop or even drying of terminals. Spray zinc sulphate, dissolved at three gram to a liter of water without the addition of lime. A week's difference should be kept in the spraying of zinc sulphate and Bordeaux mixture.
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of such colonies in these towns
AIPL AMBUJA Housing and Urban Infrastructure Limited has launched independent floors in its DreamCity project in Amritsar recently. Until now only plots and independent villas were available in the project, but now the concept of "Luxury becoming affordable" has taken shape. Buyers can now choose to enjoy the privileges of a luxury upscale living by investing in Independent Floors- built on 250 sq.yd, 325 sq. yd and 357 sq. yd plots. The price will start from Rs 35.99 lakh onwards.
GREEN HOUSE
The main considerations, which the people associated with this trade, divulge is the ratio of constructed area and area which according to government guidelines is to be left unconstructed for approved colonies. These colonisers generally don't follow the guideline of leaving 35 per cent land unconstructed and even sell this land to make more money. This results in congestion in these colonies. Other specifications like road width for main and side roads are also not adhered to.
— Ashok
— Gian
A. According to Section 2(14) of the Income-Tax Act 1961 (the Act), the term capital asset means property of any kind held by the assessee whether or not connected with his business or profession. However, the following assets are excluded from the definition of the capital asset: 
Building dreams is C. N. Raghavendran's passion rather than profession. Honoured with the Padma Shri recently, this eminent architect has been responsible for the design, engineering and implementation of a wide variety of projects pan India and abroad including UAE, Mauritius, Maldives, Sri Lanka, Bangladesh, Guyana, Malaysia and Zambia. Currently a partner of the well known C. R. Narayana Rao (CRN), Architects & Engineers, Raghavendran's focus from the beginning of his career has been on sustainable and environment friendly principles conducive to intelligent building concepts, much before it became a fashion statement. He shares his design philosophy and the latest trends in architecture in an interview. Excerpts:
Soaring realty prices, launch of prestigious residential and commercial projects in and around Chandigarh reflects the city’s love for luxury. An obvious fallout of the brisk retail and commercial growth is the advent of top league hotels in the city in the recent past. The city seems to be blinking radiantly on the radar of major national and international hotel chains. With JW Marriot soon to have a Chandigarh address, Rajeev Menon, Area Vice-President (India, Maldives, Malaysia, Australia), Marriot International, talks about what makes the city and the region a good choice for high-end hotel groups. Excerpts: