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Punjab realty scene Down with poll chill Real estate deals and investments seem to have taken a backseat as Punjab readies for feverish election activity. Umesh Dewan reports about the poll-induced realty slowdown in the state With Punjab Assembly elections due early next year, the state is already in the election mode and the main political parties have started canvassing on a large scale. While the air is rife with speculation about the fate of different political parties, there is a lull in the realty sector in the state as business has almost come to a stand still in many districts of the state.
tax
tips
Green
house
Dining
Room
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REALTY
GUIDE
loan
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BOOK
SHELF
Project
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REALTY BYTES
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Punjab
realty scene As per realtors and consultants operating in the state investors seem to be in no mood to park their funds in any real estate deal at this juncture and prefer to wait for the next government to take charge before making any investment. Not only has the sale and purchase of commercial property come to a standstill, but there is virtually no buyer for residential property as well. Information gathered from several parts of the state revealed that except for the industrial town of Ludhiana, property related deals in many parts of Doaba, Majha and Malwa regions have come to a halt. This, however, is not something new as such trend is witnessed each time during elections, say industry insiders in the state. Another interesting fact that came to the fore was the general view among property dealers that if Congress came to power then there will be a sudden boom in the real estate business in the state. Patiala waits In the royal city of Patiala — the hometown of the former Punjab CM Capt. Amarinder Singh — presently, there is no activity pertaining to the sale and purchase of property. Speaking to TNS, chairman of city based Sara Group, Satish Goyal, said, "There is no buyer in the market for residential and commercial property in Patiala at the moment. As government's policies pertaining to the real estate sector, setting up of townships, multiplexes, shopping malls and colonies, matter a lot for the investors, they prefer to wait till the elections are over. Even, after the formation of the new government, it will take almost three months for the real estate business to
gain momentum." On the issue of boom in the realty sector during the Congress regime, he said whenever Congress has been at the helm of affairs, the policies have been investor friendly and housing and commercial sectors have flourished. "No Objection Certificate (NOC) from various departments, power and water connections and other formalities, are completed in a hassle free manner during the Congress government's rule, which is the main factor behind heightened real estate activity during the tenure of the Congress government", he added. Expressing similar views, Gurpal Juneja of Juneja Realators said that from the township and shopping mall point of view, Patiala was still behind Ludhiana, Amritsar, Jalandhar and Mohali, the sale and purchase of the commercial property, including the Shop-Cum-Offices (SCOs) and commercial complexes, had witnessed a spurt over the past five-seven years, and the number of residential colonies had also gone up considerably in the city. "There is no unusual property boom like in other cities like Ludhiana, Amritsar and Mohali but considering the real estate scenario, Patiala is one district that would see major real estate activity after the next government takes over. However, as of now, the market scene in Patiala is not good, as there is hardly any land deal being executed these days. Once, the elections are over, commercial properties in the city would be selling like hot cakes and the realty sector would flourish", he added. At present two major township projects — Tricone City and PDA-Omaxe City — are coming up in Patiala. During the past two years, the auctions of the freehold SCOs sites in PDA-Omaxe City, SCOs on Jail Road and many other areas, had received an overwhelming response from the bidders. Bathinda blues While the real estate business in former CM's home town is at a standstill, the scene in Bathinda, the home turf of the present Chief Minister is also not encouraging
Amritsar limps Likewise, in the holy city of Amritsar, the property business is very slow. But seeing it as a usual trend, Amritsar based real estate consultant, Surinder Singh, said, "It is on record that during the Congress regime, more private investors and multinational companies undertake major housing and commercial projects. Now, there is fear among big time investors that in case they start their project before elections, then they might face some hurdles in completing the same in case of a change in government. Past experience reveals that for at least next six months the real estate business will take a backseat in Punjab". However, in some of the cities like Jalandhar and Mohali, the sale and purchase activity is on but here, too, the volumes are not very high. Real estate consultants said a majority of the deals pertaining to the sale of land are mostly for the residential purpose. Interestingly, while rest of the Punjab is witnessing a slump in the realty business, property business in the financial capital of the state - Ludhiana - is unaffected. According to real estate experts, the buying capacity of the people and the fact that businessmen from outside the state invest a lot in
Ludhiana, are the main factors responsible for this. The forthcoming elections have virtually had no effect on this particular district. Speaking to Real Estate Kamal
Chatly, president of the Ludhiana Property Dealers Association, said if the hosiery business goes well in the city, then the sale purchase of property goes up, notwithstanding the fact that which political party is ruling or which political party would form the next government. "Furthermore, big corporate groups invest happily in Ludhiana due to tremendous demand for residential accommodation here. Housing colonies, apartments, flats and other residential accommodations are always in demand in Ludhiana because of which the realty scene never cools down here. Likewise, for the commercial property as well, there is hardly any effect of the elections. Being the industrial hub Ludhiana is always at number one position in terms of the sale and purchase of commercial property, setting up of shopping malls and other commercial complexes", he said.
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tax
tips
n What will be the total Capital Gain in this case? n
My total income from bank interest is Rs 30,000 per year and I am filing IT Return regularly. My age is 56 years. Can I show the balance of capital gain towards my income? n
How much amount of capital gain i.e. Total capital gain - Amount paid for flat (Rs 15 lakh) can be retained and in which account. Can it be kept in savings account or a new capital gains account has to be opened? Or I have to purchase bonds for the balance amount. In case the amount is to be kept in capital gains account in a bank, what will be the procedure to withdraw money for making payment for flat (I have to pay balance of Rs 5 lakh in December, 2012 at the time of possession of the flat). In case the builder is unable to give possession by December, 2012 then till which date can the amount be retained in capital gains account or we can make the payment to builder any time to save tax. — Savita Rani A. Your queries are replied hereunder: n
The amount of long-term capital gain on the basis of figures given in the query would work out at Rs 17,00,797. n
You will be entitled to exhaust the maximum limit up to which income tax is not chargeable taking into account the amount of long-term capital gain. The maximum amount on which income tax is not chargeable for assessment year 2012-13 (year ending March 31, 2012) is Rs 1,80,000. The amount of capital gain worked out above being Rs 17,00,797, you will be liable to pay tax on capital gain of Rs 15,20,797 (17,00,797- 1,80,000) @ 20.6 per cent. n
You should deposit a sum of Rs 3 lakh in a bank under the Capital Gain Scheme account in case you want to avail exemption from the taxability of the amount of capital gain. This is because you have already invested Rs 15,00,000 towards the purchase of a residential house. There may not be a necessity to buy bonds for the aforesaid amount since you have to pay balance amount towards purchase of residential house by December, 2012, which I presume would not be less than Rs 3 lakh. This is because you are required to purchase/construct a residential house by utilising the amount of net consideration which in your case is Rs 18 lakh. The deposit under capital gains scheme should be made before July 31, 2012. n
The balance amount payable towards the purchase of residential house can be directly paid to builder from the bank account opened under the capital gains scheme. n
The bank has to be informed with regard to the utilisation of the account maintained under capital gains scheme account. n
A residential house can be purchased within two years after the date of sale of a capital asset. On the basis of facts given in the query the residential house should be purchased before July, 2013. It would be advisable to make the payment of the balance amount to the builder before the said date so that the claim for exemption can be contested.
When I got married in 2008, I requested my dad to change titles and deeds, as I have an elder brother who lives in India. As per my request my dad changed titles to my name by transferring the property as gift to me. After that I had collected all the documents of Gift Deeds, link documents etc. My query is: n
Can my dad cancel the gift deeds and change titles to his name. For the past one year he has not been on talking terms with me. I have got only a few of the receipts for the money transferred from my account to his in India. n
What will be the best way to procede further in this case. — Raj Kumar A. The facts in the query indicate that the gift deed has been executed and registered in your favour. You should get the mutation of the plots effected in your name with the municipal authorities. Once this is done, it may not be possible for your father to get any change effected in the records. It would also be worthwhile to get boundary walls constructed on your plots. Further, a signboard indicating the name of the plot owner should be put up on such boundary walls. It may be added that a gift is complete only if it is made without any recourse to take back the gifted property and therefore, it may not be possible to cancel the gift where a gift deed has been registered. HRA exemption for unemployed period Q. I am a salaried employee. I was not employed from August, 2010 to November, 2010 during F.Y. 2010-2011 and did not get any HRA for the unemployment period. I got HRA during the period of my employment in the financial year and I am claiming exemption u/s 10 for the HRA (received through the employer). Can I claim exemption under 80GG for the unemployment period? Please clarify.
— Ravi A. You can claim the deduction under Section 80GG of the Income-tax Act, 1961 for the period for which you were not in receipt of the house rent allowance.
We have been reminding him repeatedly to register the land (we are ready to pay the balance amount). But he has failed to do so as there is some problem regarding ownership of land there. About a month ago he gave us a cheque for Rs 7 lakh that we had paid to him already as the land could not be registered in our name because of some dispute. However, when I deposited the cheque in the bank, it bounced. I tried to call the builder and went to his office but found that the office had been closed; he was not even present at his residence. Now, that I am in such a situation, is it worth filing a criminal case or approach the State Consumer Court? What are the best options for me at this point of time? Please advise on all possible measures which I can take now to get justice without wasting too much time. — Raghav A. In my opinion you should file a criminal case against the builder in respect of the dishonour of cheque issued to you as well as take up the matter in the State Consumer Court for not honouring the commitment made by him. You can also approach the court for seeking specific performance of the agreement entered into by you for the purchase of the land.
Selling
plot to
NRI — Rajendra A. It seems that the intending purchaser is a person of Indian origin. This is evident from the fact that he wants to settle in India. If that be so, he is permitted to acquire a residential house in India provided the payment for the purchase of the house is made out of funds received in India through banking channels by way of inward remittance from any place outside India or from the funds held in Non-resident Account maintained in accordance with the provisions of the Foreign Exchange Management Act 1999, and the regulations made thereunder.
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Green
house The single most important factor in growing a healthy cactus is the correct potting mixture. The compost used should be porous and rich in nutrients. Mix 50 per cent each of coarse sand and mature dung manure (or leaf mould). To a cubic foot of this mixture add: n
Nitrogen, Phosphorous, Potash (NPK) in equal ratio - 50 gm Looking beyond
potted cacti Dish gardening is an art of planting small ornamentals plants in shallow vases or dishes in a creative manner. A pretty impressive miniature landscape can be developed in a dish garden of cacti and succulents. These plants are ornamental in nature and come in various shapes, sizes and colours. Such dish gardens have become popular among plant lovers, as these plants can remain in the dish for years. They can be placed artistically to enhance the ambience of your home during special occasions and also make excellent gifts for special friends. Creating a dish garden
n
Spread half an inch layer of crocks or gravel at th e bottom of the dish for better drainage and fill the dish with moist potting compost leaving one centimetre space below the rim of the dish.
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Dining
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Noted architect Azmal Zaheer Khan of Delhi-based Kothari Associates says that unlike in the past, now more and more people give lot of importance to their dining room at the time of construction or when they decorate it. It is clear that finally the dining rooms is getting its due and now more than the taste of food, both host and guest also look the ambience of your dining room. Colour code According to Nuzhat Alim of ILD group, “While decorating the dining room, one has to put a lot of focus on colours. Before setting up a dining room, you need to consider the colours that you are using therein and the effect that these will have on the people who use the room. Otherwise, you might end up with guests who eat hardly a fraction of what you serve and rarely feel like having a conversation.” While decorating or give new look to your dining room, it is very important for you to take care of the colour of the walls. Interior decorator Asha Thakur says that orange is a colour that is associated with stimulating the appetite. You can also use different shades of orange. If you don’t want to use orange to a large extent, such as for painting the walls, incorporate it into things like napkins and tablecloths. Will warm colours go well with your dining room? “Of course,” says Thakur, adding, “Gold can go well for a dining room. If your room does not receive much natural lighting in the day, then you can use a warm colour on the walls and finish it with a glaze. This will make the room look pleasing during the day and at night also.” And if you want to give a formal look to your dining room, keeping it subdued, then colours such as deep beiges and browns will be just perfect. Talking more about the colour of your dining room, it is said that yellow and cream are the other colours that go well with the overall purpose of a dining room i.e. to eat and socialise. Yellow is believed to stimulate conversation at the dinner table. As far as cream is concerned, it is quite soothing and creates a restful atmosphere. However, some shades of yellow can be affected by light, turning into a displeasing shade of green. So, make sure to use the colour cautiously. Experts suggest that blue and pink should be avoided in a dining room. Since one can find very little blue food in nature, the colour works as an appetite suppressant. It might make people feel less hungry and is thus, best avoided. The shade of pink, too, should be avoided in the dining room. Like blue, pink is also considered to repress the appetite of a person. Dishy furniture Sanjay Khanna of Delhi-based Kailash Nath Projects Pvt.Ltd, says, “I feel that the dining room is getting its due now as people spend lot of time and money in order to make it grand. I also feel that you buy the perfect dining room furniture that not only suits your needs, but also shows the importance of space for your family.” Talking more about the furniture of dining room, Khanna suggests that apart from the dining table and chairs, one also needs certain other pieces of furniture, such as a hutch, sideboard, chest of drawers, buffet, sideboard, china cabinet, etc. Light and air It is a well known fact that the first and foremost reason for setting up a dining room is to create a place where people can have food. Along with that, it is often the place where people host breakfasts, luncheons and dinners. Dining room is meant to serve as a space for having food as well as conversation. If you want to enjoy your meals in dining room, then proper ambience is very important. It can be enhanced by providing proper ventilation, sufficient lighting and enough space. Keep the dining table at least two feet away from the wall so that getting in and out of the chair is easy. Convenience of serving food should also be kept in mind. Proximity of the dining area to the kitchen makes serving effortless. The dining table should be big enough to accommodate all the food items. A small cupboard close to the table will be handy for holding cutlery, napkins, salt, pepper and other items which you may need for dining. Dining is a pleasure and should be enjoyed in comfort. It is also the only activity in a day for which the entire family gets together. A bit of planning is required to make your dining room a comfortable and convenient place to enjoy your dining. If you are lucky enough to have a separate dining room, consider ways to use the room more often for greater efficiency. Admittedly, if you can consider all these suggestions, your dining room can become like the dining room in the Chopra mansion.
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South facing flats are not considered healthy particularly for women. The tiles in kitchen should not be black. — The writer is a Chandigarh-based Vaastu Consultant and Astrologer. Readers can send their suggestions/queries at realestate@tribunemail.com
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REALTY
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Q. When my husband expired a few years ago, he had a house in his name built from his own resources. He did not leave a Will. So,as per law the house was transferred to me and my two children in equal shares, i.e. 33 per cent each. Later on my children transferred their share in the house to me. Now I have 100 per cent share. I know that if i don’t leave a Will, the house will be divided equally between my children. I want to know if i can Will the house to anybody, or to one of my children.
— Surekha. A. For all intents and purposes you are the absolute owner of the said property having clear title in your name.You can transfer or dispose of the property as per your discretion. As far as the Will for the property is concerned, you have complete liberty to leave it in anyone’s name. In case you do not leave a Will, both your children will be the legal heirs and co-sharers in the property after your death. Besides your son you could also will your property to a third person. However, when willing the property to someone or your child/children, take certain precautions. The drafting of the Will should be done carefully with the help of an expert. Moreover, the consideration amount, and other reasons for the Will such as love and affection (considered as consideration) should be clearly mentioned so that the beneficiaries of the Will are not inconvenienced after your death. According to the recent Supreme Court judgement on GPA, a probate of the Willed property must be got executed by the court. If you follow these guidelines then it would save the beneficiaries much botheration at a later stage. Foul plot Q. I am the owner of an 8 marla plot bought and registered (intekal done) on October 23, 1994. However, we did not take the possession of the said plot. In the meantime some influential persons got this plot registered in their name in April, 2003 (intekal done again) due to a mistake made by the Patwari who alotted them extra land when the intekal of their adjoining plot was done in February 2003. These people have constructed a boundary wall around our plot and it is now in their possession. They also have a registry and furd showing their ownership. How can I get my plot back now? — Jatinder Shahi, Pathankot A. From your query it appears that the registry and mutation was done in your favour (8 marla plot i.e. approximately 1/24 part of 1 acre plot). However, proper documentation commonly known as “nishandehi”(i.e. North, East, West and South of the plot and proper map of your 8 marla plot) seem to be missing in your case. While mutation is done by the patwari, “nishandehi” is done by Patwari in case of an approved colony and by the owner in the case of an unapproved colony. Khasra number is given to one acre plot and after that further divisions are made and plots are registered to individual owners. The individual plots are then registered by the tehsildar. So it was not due to the mistake of the patwari that extra land was given to that infleuential owner. It could be lack of knowledge or a smart move by the vested interests to deny you your rightful plot. Now the position is that if you have proper “nishandehi” in your favour, you would get immediate relief from court of law. If not then you have a weak case. In case, the opposite party also does not have a proper “nishandehi”, then you could go in for an amicable settlement with the opposite party.
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loan
zone If you have rented out a property to an individual or a company, it can come handy during an emergency. You can get a loan against the rent you are yet to receive in the future from your tenant. Such a loan would be cheaper than a personal loan and your tenant will pay the equated monthly installments on your behalf. While most banks provide loans against rent receivables only if the property is rented out to reputed firms and banks.
LOAN FEATURES Amount: Banks provide loans in the range of Rs 50,000 to a few crore. The amount you can avail depends upon the quantum of future rental income that you would receive in keeping with the tenor of the lease. Repayment tenor: This could be as high as 10 years depending on the lease tenor as well as your repaying capacity. The cost: The rate of interest varies between banks but in general it is 50-100 basis points less than that charged on personal loans. You also need to pay processing fees which again varies from bank to bank and depends on the loan amount. DOCUMENTATION Normally, a bank enters into a tripartite agreement with you and your tenant, whereby the tenant agrees to pay the rent directly to the bank. The bank also signs a separate term-loan agreement with you. You would be required to submit a few documents, including the tenancy agreement, authorised building plan, title deed of the property, your bank statements, IT returns and PAN number.
— S.C.Dhall
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BOOK
SHELF “It was January 1975. I picked up
my pen to sign a share transfer form. I was about to sell all my shares in DLF," Singh revealed in his autobiography Whatever the Odds. "On the desk before me was a
cheque in my favour for Rs 26 lakh or Rs 2.6 million, being the approximate book value of the shares. It was the amount I would get for severing my links with DLF forever," he added. Singh's father-in-law had told him to sell his shares in DLF, he said. "One does not even think of questioning the family patriarch, one simply does what one is told to do. That was the culture in
our families," Singh writes. However, the company's then Chief Financial Advisor Y.S. Tayal cautioned
Singh to think carefully before signing the share transfer document. "I will be retiring from DLF in a few weeks, so I can speak my mind freely. I feel it is my moral duty to apprise you of the implications involved. Once all of you sign all the share transfer forms and accept the cheques, it would mean that your family will get permanently disassociated with DLF forever. Please think about it," Tayal had said. As per the proposed share sale agreement, Singh and his wife Indira were to get Rs 26 lakh each. Indira's sister Prem was to get Rs 20 lakh for selling her stake. "It was a wake-up call for me. In a flash, I realised the truth of what he was saying and the implications of giving away my DLF shareholding," Singh said. The Chairman of the country's present largest realty firm recalled that his father-in-law had almost closed down DLF after private sector developers were forced out of urban land development business by government regulations. "Had I signed it, my DLF story would
have ended there and then. My life would have been entirely different and, perhaps, this memoir would never have been written," Singh said. Singh's autobiography was released by Jack Welch, the former Chairman and CEO of GE, earlier this week. DLF has a market capitalisation
of Rs 35,363.57 crore and Singh and his family members hold 78.6 per cent stake in the company. The book talks of DLF’s success story and also gives an account of Singh’s journey — from a small town in Uttar Pradesh to England, where he became a part of high society, to an army career and finally to the top most position at DLF. Singh also mentions about a crisis in his personal life when his wife miraculously escaped from a helicopter crash on January 2, 2001. "In every person's life, there comes a time or an incident which brings about a re-awakening. In my case, it came...when a helicopter crash near Mussoorie killed several of my dearest friends and almost extinguished the light of my life, my wife Indira," he wrote. Singh said he had never faced such an emotional turbulence before. This incident also led to his son Rajiv Singh becoming active in DLF businesses. In the autobiography, Singh also
mentions about his friendship with Julie Rosemary Wells in early days during his stay in England in 1949. "Just being together with her gave me a kind of happiness that I had never known before. I looked forward to and enjoyed every excursion with her. But there was a downside to all this fun and frolic. I was neglecting my studies," Singh recollected. Later he returned to India and joined the Army before getting into businesses.
— PTI
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Project
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Possession is on for independent floors in 'My Floors' project in TDI City, Mohali. My Floors is part of TDI City II being developed by Taneja Developers & Infrastructures Ltd. in Mohali and comprises three BHK independent floors as G+2 on a plot size of 250 sq yard. Out of the total 144 units possession has already been given for 72 units. The units come in the price range of Rs 38 lakh to Rs 42
lakh.
Possession process on at Spectrum The Paramount Group, an NCR-based real estate group has started the possession of its commercial project, Spectrum. The project is located at India's first global city, Crossings Republik at NH-24, Ghaziabad. Spectrum spans over an area of 16,272 sq. ft., which can accommodate a population of more than 2 lakh. The project has 36 retails shops, area of which ranges from 215 sq. ft. to 1561 sq. ft. The
commercial project has a hypermarket, food court, entertainment zone and
sundry stores. The project is a four-storey tower that offers a huge hyper market on its lower ground floor and ground floor, a shopping area on its first floor, food court on its second floor and ample parking area in the basement of the tower.
— TNS
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REALTY BYTES
Realty major Unitech has sold 3.71 million sq ft of area worth Rs 2,088 crore and reduced its debt by nearly Rs 400 crore in the first half of this fiscal.
In a presentation, the company said that it haD launched nearly 6 million sq ft between April and September period of this fiscal. “Over Rs 2,000 crore of sales bookings achieved during H1 2011-12,” it said, adding that the average sales realisation stood at Rs 5,633 per sq ft. Out of 3.71 million sq ft that it sold during the first half of this fiscal, Unitech said the housing sector accounted for 3.22 million sq ft. In sales booking, the housing segment contributed Rs 1,565 crore, while the non-residential vertical accounted for Rs 523 crore, the presentation said. Unitech said its debt has reduced by Rs 394.69 crore in the first half of the current financial year. The company had a consolidated net debt of Rs 5,144 crore as of September 30. Yesterday, Unitech had reported a 47 per cent decline in its consolidated net profit at Rs 92.46 crore for the quarter ended September 30, 2011. The net sales fell by 3 per cent to Rs 626.06 crore in the second quarter of the current fiscal as against Rs 644.51 crore in the same period of the last fiscal.
Ascott plans to double presence in India by 2015 Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about $ 250 million (Rs 1,250 crore). The Singapore-headquartered company currently has seven properties in India, of which two are in operation and the others are under construction across various locations. "We were looking at India for over four years (before having our presence). These seven properties would have about 1,400 units. From our strategy perspective, we want to take it to 4,000 units by 2015. We are also in discussion with some owners who don't want to sell the property but they look at professional managers," Ascott Ltd Chief Investment Officer, Ronald Tay said. The company manages Ascott Residences, Citadin A'part Hotel and Somerset Serviced Residences. While "Citadin Richmond Hotel" is operational in Bangalore, it recently inaugurated their Somerset Serviced Residence in Chennai. Tay said they were focusing on a market which attracts huge FDI. "FDI is increasing in India. I think it is growing steadily. Demand is there in India specifically because India and China is where growth is happening very fast. When developed markets are growing at four per cent,
India and China grow at six per cent", he added. Tay said when markets tend to
grow at such a rate, a lot of foreign travellers visit the countries and this is where their company sees opportunities (in emerging markets like China and India). Tay said Ascott has over 15 years of presence in China and currently
manages about 7,000 to 8,000 units. It intends to have about 12,000 units in China by 2015. "In China we have presence in major cities like in Shanghai and are now moving into Tier-II and Tier III cities. We go along with the Corporates. The intention is to replicate same plans across India", he added. On plans for the Indian market,
he said, "We are interested in India just because it is a very big market. We are targeting corporate business. You don't find us in tourist places like Goa". As part of their global strategy the company also planned to increase it to 40,000 units by 2015. "We are global players. We have 28,000 units now. We have big presence. We want to have 40,000 units by 2015," he said.
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With the increase in population, the prices of land have sky rocketed resulting in smaller houses having no room for gardens or even for big pots. Not only this, the longer commuting time and busy work schedules have left people with little time to devote to gardening. Annuals and other plants need lots of soil, space and water and in metropolitan and big cities there is scarcity of water also. So in such a scenario cacti appear to be the best bet for those looking for plants that need less care and maintenance. Cacti need smaller pots, less space, soil and water and have the unique ability to grow well without much attention. If you are away on a holiday, most of the cactus varieties will survive and may also surprise you with flowers on your return. Here we bring you some tips and tricks on growing cacti successfully so that you can have a beautiful but low maintenance garden.
With Punjab Assembly elections due early next year, the state is already in the election mode and the main political parties have started canvassing on a large scale. While the air is rife with speculation about the fate of different political parties, there is a lull in the realty sector in the state as business has almost come to a stand still in many districts of the state.
Q. My father had purchased a plot in August, 1989, for Rs 23,000, including stamp duty, and gave me GPA duly registered in 1990. He also got a Will registered in my favour in 2003. He expired in May, 2008. I sold this plot in July, 2011, for Rs 18 lakh. In August 2011 I booked a flat worth Rs 35 lakh jointly with my daughter. The possession of the flat is likely to be given in December, 2012. I have paid Rs 15 lakh from the sale proceeds of the plot sold by me and Rs 15 lakh were paid by my daughter in September, 2011 through a bank loan. The balance amount is to be paid during August -December, 2012 on getting possession of the flat. My queries are:
Q. I am an NRI living in London for the past 10 years. As I have been sending money to my dad in India for all these years, he had bought plots in his name at my native place.
Q. We plan to buy a plot in Noida from a builder. He promised to register the land in our name once we paid Rs 15 lakh. We have told him that we will only pay Rs 7 lakh in advance and the rest will be paid at the time of registration. He agreed to it and also gave us an agreement stating that he would register the land before June, 2011.
Q. I have a residential plot for sale in Hyderabad. A person settled in Nairobi wants to buy that since he wants to come back to India shortly. Can you please tell me what are the legalities involved in such a transaction. What are the documents of the buyer that I should be checking etc.
With the increase in population, the prices of land have sky rocketed resulting in smaller houses having no room for gardens or even for big pots. Not only this, the longer commuting time and busy work schedules have left people with little time to devote to gardening. Annuals and other plants need lots of soil, space and water and in metropolitan and big cities there is scarcity of water also. So in such a scenario cacti appear to be the best bet for those looking for plants that need less care and maintenance. Cacti need smaller pots, less space, soil and water and have the unique ability to grow well without much attention. If you are away on a holiday, most of the cactus varieties will survive and may also surprise you with flowers on your return. Here we bring you some tips and tricks on growing cacti successfully so that you can have a beautiful but low maintenance garden.
some container for a couple of weeks to make it ready for use.
A friend once visited the Mumbai home of veteran film maker late B.R. Chopra after the release of Amitabh Bachchan and Hema Malini starrer ‘Baghban’ was so impressed with the dining room of Chopra house that he kept on narrating the grand dining room for several weeks. He was really impressed with the ventilation and lighting of Chopra’s spacious home.
The scarcity of land in cities has lead to vertical growth and more and more homebuyers are now buying flats and apartments in high rise buildings as these are much more affordable than independent houses. There are many factors which a home buyer considers before finalising a particular apartment. These generally include location, scope for future development, facilities like gardens, lifts etc; resale value, legal contracts and finance. But for those wanting to keep vaastu aspect also in mind it is a tough job. As unlike an independent house or plot it is very difficult to get a flat that conforms to vaastu principles. The buyers have very little choice in deciding the directions and positioning of different areas in their home. Though some builders are coming up with projects where vaastu principles have been incorporated in the basic design, it is difficult to find such projects. Flats differ from independent houses which is why their vaastu also varies in some ways. A flat generally has 2-3 rooms with attached toilets made improperly at anywhere. Though some remedial steps can be taken to achieve vaastu balance in one's flat, there are some rules laid down for flat selection which must be considered before choosing a flat:
With private builders facing severe problems due to the government regulations in 1970s, DLF Chairman K.P. Singh had almost decided to exit the real estate business by selling all his shares that would have given him and his wife Rs 26 lakh each.
