REAL ESTATE |
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OUTLOOK 2012 Has the fall in property prices in the tricity region in 2011 made 2012 a year of golden opportunity for investors of all categories? B.K. Sanghi lists the points that make tricity an ideal investment turf and also finds out whether it is really the Time to make a kill? Chandigarh is among the fastest growing, high per capita income regions of the country. With an average Rs 1,20,912 per capita (as per 2011 Census), it ranks second in the country only after Goa. The recent and gradual influx of national and international business giants and IT multinationals like Quark, Infosys, Dell, IBM, Tech Mahindra etc has made the City Beautiful a hub of growth and an attractive destination for professionals, and thus the realty scene holds a lot of promise in the years to come. Tax tips
Launch Pad
Realty Bite
Living with vaastu
Ground Realty
More towers in Wellington Heights
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OUTLOOK 2012 Chandigarh is among the fastest growing, high per capita income regions of the country. With an average Rs 1,20,912 per capita (as per 2011 Census), it ranks second in the country only after Goa. The recent and gradual influx of national and international business giants and IT multinationals like Quark, Infosys, Dell, IBM, Tech Mahindra etc has made the City Beautiful a hub of growth and an attractive destination for professionals, and thus the realty scene holds a lot of promise in the years to come.
While there is no dearth of demand in the residential segment from end users, a substantial NRI population and the well-heeled from Punjab have always maintained the strong investor base for tricity's realty mart. With end users in a wait-and-watch mode at present and biding their time till prices and home loan interest rates stabilise, for the investors it can be a good time to park their funds in different projects as per their investment capacity because the prices are very low. However, those looking for quick returns should not make any hasty move in the first few months of 2012 and should follow the end users' strategy for the time being. But for those with long-term investment goals the time it may be a wise move as future holds a lot of promise of price appreciation. A confluence of a number of factors make 2012 a good time to invest in property in and around Chandigarh. Because of its strategic location this city of the future is on the top of the wish list of big realtors and investors. While the 1980s focused on Mumbai, the 1990s saw the realtors' focus shift to Delhi and the National Capital Region (NCR), the first decade of this millennium focused on Bengaluru, and the next decade (2010-20) seems to be drawing all real estate focus on the tricity area in particular, and on other emerging Tier-II cities in general. The second decade of the millennium, thus, definitely belongs to the tricity as far as the growth of the realty sector is concerned. With the coming up of the IT Park, Metro and international airport projects, Chandigarh seems to be the only oasis of orderly development in the congested and chaotic concrete jungle of metros. World-class living standards offered by Chandigarh, Mohali and Panchkula will spur construction activity in the years to come as a large number of people, including politicians, bureaucrats and businessmen, prefer to settle here. However, there is need for co-ordinated efforts to develop the Chandigarh capital region in a holistic manner.
Mini townships, big opportunity
What makes the tricity and its vicinity an ideal realty destination is the fact that it already adheres to a great extent to the internationally inspired development mode which developers of township properties have only recently begun addressing. Today there is a burgeoning market for the internationally-accepted and acclaimed property development model of integrated townships.
This model holds out the promise of maximum value for money to buyers, based on high-grade common infrastructure and shared facilities in some of the more cost-effective, but nevertheless, progressive areas. With big players like DLF, Omaxe, TDI, Emaar MGF, Unitech, IREO, Shipra, ATS etc coming up with integrated township projects in areas around Panchkula, Mohali, and Zirakpur there is a huge choice available for those with a longer investment trajectory.
High rental value
A fact that has had a significant impact on the property market in the region is the fact that rentals have not decreased to any extent in the tricity. These have rather been growing higher and higher. With an influx of employees of IT companies and over one lakh students joining the ranks of 'Paying Guests' each year, rental market will continue to boom in the next year also. This makes property within the tricity region an attractive option for investors as apart from
capital appreciation they can get good returns from rentals also in the next few years.
Pricey Bill
Experts see the current lull in the property prices in the region an ideal time to invest also because once the land acquisition Bill became a reality, it would be very difficult to pick up property in the next few years. The Bill has several clauses that, once accepted, would put the lid on the availability of land for real estate development besides increasing cost input implications for all land development and housing projects. The Bill proposes to offer higher prices of land for original landowners besides certain riders that dictate that Rs 2,000 per month should be paid to the landlord for two years. There is also the inherent clause of employment guarantee to project affected family member. The Bill also stipulates that the land under acquisition for a particular project be utilised for project completion within 10 years, failing which the project developer would be required to surrender the land to the actual owner. If these recommendations are incorporated in totality then it is predicted that the real estate prices will go through the proverbial roof. As per industry mavens once the new land acquisition Bill is enforced, the land prices and cost of construction of housing would experience at least 20% to 25% increase. The developers will have little choice but to transfer the entire burden of this increase onto the customer, who has already been crushed under the rising cost of living governed by erratic inflation swings. The time is, thus, ripe for taking a plunge in the property market and invest in residential or commercial property in the tricity. However, a word of caution, this is by no means the time for speculative buying in real estate. It is the investment buyer who will line a neat nest egg in the times to come. Anyone willing to dip into vital resources for investment in the tricity perimeter is sure to reap a rich harvest once the boom begins. The writer is a city-based realtor and President of the Haryana Group Housing Federation (HGHF)
IMPACT OF REFORM MOVE
Owing to market sentiment the overall residential market is expected to witness a drop in prices by 10 to 15 per cent in Mumbai and Delhi in the next few months. We are not likely to witness a drop in NCR where residential property prices range between Rs 3500 to 5500 per sq ft The impact of farmer's agitation and the proposed land acquisition Bill that the government has introduced to address the issue seems to be a knee-jerk reaction and it will only increase the cost of acquiring land. Further, the Bill will adversely affect urbanisation as it will be impossible to acquire 50-100 acres of land parcels at one place for any planned development. Also with the land acquisition cost going up, property prices are likely to rise. The provisions in the real estate regulation Bill are also likely to lead to price hike, as the Bill will add to the number of windows of clearance. — Getamber Anand, Managing Director ATS Group & Vice President CREDAI
Luxury
housing
The concept of luxury housing is comparatively new in India, there are only a handful of players in this segment and limited numbers of such properties are constructed which makes it a small niche segment. This segment of therealty market has remained immune to the global economic meltdown as there is a steady influx of wealth giving rise to the affluent class. Hence, their buying capacity remains unaffected. There has been 30-40% rise in luxury property demand in 2010- 2011. There will not be many challenges for developers in this particular segment because of the following reasons:
The only challenge that I see as a developer is meeting the expectations of the luxury segment. Since their purchasing capacity is higher, their expectations in terms of standard of living, lifestyle and aesthetics of the properties they would invest in are also very high. As long as the developers are able to take care of that, the year ahead looks very promising. — Shridev Sharma,
MD Kamrup Housing Projects Pvt. Ltd.
Latent demand to rule market
The industry has weathered a challenging year in 2011 quite well and 2012 promises to be an exciting year. If inflation moderates, we can expect a downward pressure on interest rates from the second quarter onwards which will further increase absorption in the residential market. Besides this, the drop in transactions over the last two quarters has built up latent demand, which will play out over the first two quarters in terms of increased offtake of ready to move in properties. The industry is still in an oversupply situation as far as commercial office space goes and we see the situation reversing only by 2014-15. The opening up of FDI in multi brand retail, as and when it happens will spur fresh demand for retail office space, particularly in Mumbai, Bengaluru and the NCR. The biggest challenge for realtors will be quick liquidation of current inventory and delivery to committed timelines. In fact we expect prices to increase from the second quarter onwards. It is a good time for buyers to finalise properties now as prices are not likely to drop in most markets and interest rates are likely to be stable with a downward bias. — Ganesh Vasudevan, Vice-president and Business Head, IndiaProperty.com
Challenging times
“I am hoping that there will be a lot of change happening in 2012. Design and technology is changing because every day the availability of land is decreasing and now developers are using new technologies. Trends are changing and many people are talking about green and eco friendly and high-rise buildings. Last year we were talking about affordable housing in the price bracket of Rs 20 lakh- 40 lakh, but this year the definition of affordable segment will change and this bracket go up to 35 lakh-50 lakh. With Noida authority increasing the FAR which allows developers to construct high rise apartment that will increase the quantity of residential units. In 2012 I am expecting new land acquisition Bill and CREDAI will put more transparency in to the system. In 2012 cost of projects will go up while rising home loan rates have exerted pressure on buyers, developers have been constrained by the rising costs of construction and debt. We are now looking at scenario where both developers and buyers are impacted by adverse macro-economic factors. Rising inputs costs caused developers to slow down on construction and new launches. — Manoj Goyal, CMD, KDP Buildwell Pvt Ltd
CONSTRUCTION
It is a fact that construction is not just more prolific than before, it's also much more expensive. In 2011 the cost of construction went up by nearly 10 per cent (approx) as compared to the 4 per cent (approx) increase in 2010. These increases have primarily been due to the high demand for commodities all over the world and partly due to increase in fuel prices. Generally there has been an increase in the cost across the board and prices of basic raw materials such as steel, cement, sand, aggregates and bricks have gone up. Several supply side constraints are responsible for the inflationary pressure on the building materials sector, and some of the industry related constraints are shortage of raw materials, rising energy costs, low productivity, distribution and marketing difficulties. While the main exogenous reason has been the economic and regulatory environment in which the building materials industry operates. In 2012, given the current scenario and the expected interest increases by RBI, I believe that the first half of the next year may witness a steady increase in the construction costs and may lead to a slowdown in terms of construction activity and delay in projects. But I firmly believe that good projects done by developers with a good track record will continue to find buyers, though it looks like a challenging year in the first half. — Nikhil Jain, CEO, Ramaprastha Builders
ECONOMIC CONSIDERATIONS
“Unlike 2011, the new year is expected to bring in cheer as RBI has decided to shift from its tightening bias towards monetary policy. No further interest rates are expected and thus buyers can feel relieved. Demand is expected to remain stable. A little price hike can be expected especially in projects that are being delivered or are nearing completion. Noida and Ghaziabad are expected to witness improved absorption". — Vijay Jindal, CMD, SVP Group “Because of the prevailing uncertainties on the global market and the likelihood of further interest rate hikes by the RBI in the early part of 2012, sentiment in the residential market will remain cautious over the short term. The absorption rate — meaning the ratio of sales over inventory in the market — is likely to be low, and the incidence of new launches will decline. Rise in capital values will be marginal because of low sales. Overall macro-economic conditions will keep investor sentiments at cautious levels, both in terms of FDI and FII. FDI inflows, which are currently muted because of the slowdown in the country's GDP growth rate, will probably remain sluggish over the short term. However, as the Indian economy continues to show its resilience in 2012, foreign investors will gain confidence and India will become attractive among competing investment destinations. — Sanjay Rastogi, Director, Saviour Builders Pvt Ltd “There should be sharp improvement in the prospects of real estate all around. Interest cycle is likely to turn and with the impending fall in interest rates, buying sentiment should improve. Developers also are mostly avoiding the premium segment which is susceptible to greater volatility. Demand for middle class housing, especially in Tier II towns will continue to be robust. Developers who focus on execution and delivery should not face any stress. Of course, there will be pockets of pain in areas of frothy demand and in case of overstretched developers, but that is a normal market occurrence and can be expected in any given year. Overall, both developers and home buyers have a lot to look forward to in 2012. — Pankaj Bajaj, President, CREDAI NCR
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Tax tips
Q. My wife owned a house that had been constructed in May, 2000 at a cost of Rs 5 lakh. She died intestate on October 12, 2008. I and my daughter are the legal heirs of the house, which was sold in May, 2011 for Rs 13 lakh. What will be the exact amount of capital gain in this case and how can one avoid paying LTCG.
My daughter, who is married, is constructing a house which is going to cost approximately Rs 40 lakh and is likely to be completed in the next one year. The plot is in the name of my daughter. If I invest some amount in the house being constructed by my daughter and she gives an affidavit stating that I had spent my portion of the capital gain in the new house then will I be able to save on LTCG tax. — Dharam Paul Dadhich A. Your queries are replied hereunder:
Bifurcating gains as per share in property
Q. A plot was purchased in the name of my wife in 1987. The title of land is in the name of my wife. From 1987 to 1989 we constructed a building on the above said plot. While my wife contributed two thirds of the construction and land cost, I contributed the rest one third towards the cost of land and construction of the above mentioned property. I have not charged any interest for my contribution from my wife. We have rented out the above said premises. We are paying income tax on the rental value as per Section 64 of the IT Act (two thirds by my wife and one third by me). We are also claiming benefit under Section 24 of the IT Act. Now we want to sell this property. If we purchase a residential house by selling the property, then will the LTCG tax be saved if the residential house is purchased in the name of my wife as per Section 54 as my wife is owner of the house. Please also inform if the purchased house is also rented out then the rental income will be taxed in the same way as in case of the present property? — Dev Raj A.
On the basis of facts given in the query, it is evident that both you and your wife were joint owners of the residential house in the ratio of two third and one third. Accordingly, on the sale of the residential house, your wife would be able to save tax on the two third share of the capital gain by investing the same in the construction/purchase of a new residential house. In case the new house is in the name of your wife only, then she will be liable to pay tax on the rental income. The amount of capital gain to the extent of one third arising on the sale of the old residential house will be exigible in your hand. Since the same has not been utilised for the construction/purchase of the residential house, you would be able to save the amount of tax on the capital gain so earned in case you invest the amount of capital gain in the acquisition of tax-saving bonds within six months of the date of sale of the residential house.
Construct house or buy bonds to save tax
Q. I am a retired pensioner. In June 2011, I sold some ancestral land that I had inherited for Rs 45 lakh. The land was agricultural land that had been inherited by my late father and was outside the limits of any municipal corporation. I have invested the sale proceeds in buying a plot in Mohali Hills, on which I don't have any plans to build any house in the near future (not for at least next five years). I may be getting the possession of the said plot by end of 2012 as the area is still being developed by the private real estate company. Please advise, whether I need to pay any capital gains tax? If yes, then how much? Is there a way to save the capital gains tax? — H. S. Chauhan A.
You have not indicated whether the agricultural land inherited by you from your father was situated within such distance of the municipal limits as has been notified by the Central Government. In case the agricultural land was situated outside the municipal limits but situated within such distance as has been notified by the Central Government, such agricultural land will be treated as a capital asset. Any gain arising on the sale of such land would be exigible to income tax. You have also not indicated the fair market value of the agricultural land as on April 1, 1981 to enable me to compute the capital gain arising on the sale of such land. You can save the tax leviable on the capital gain provided you construct a residential house on the plot in Mohali within three years after the date of sale of the agricultural land and utilise the full amount of Rs 45 lakh towards such construction. Otherwise you can save the tax on the capital gain provided you invest the amount of capital gain in the acquisition of capital gains tax saving bonds within six months of the date of sale of the land.
Mechanics of a gift deed
Q. I am a senior citizen (73). My wife has already expired and I have one daughter, who is married. I have a small flat in Chandigarh in my name. It had been allotted to me by the CHB. The flat is currently rented out. Kindly advise me on the following points:
— D.R. Batra A. Your queries are replied hereunder:
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Launch Pad
Puri Constructions Pvt Ltd, recently launched its luxury housing project — Diplomatic Greens — in Gurgaon. Strategically located in Sector-111, this master planned, mixed use community is spread over sprawling 51 acres with a 1 km long front directly on the Dwarka Expressway.
The project with G+12 floors with only 12 towers is expected to be completed by 2015. Each floor will have two spacious apartments only with a choice of 3 and 4 bedrooms apartments along with 8 ft wide balconies and verandas on both sides, to ensure abundant light and ventilation in every apartment. The ground and first floors in every tower will comprise duplexes with their own private pools and gardens. Another aspect of the project will be the super luxury apartments — only one on each floor. The project will also have a club house spread across 20,000 sq ft and comprising themed landscaped gardens and recreational facilities like three tennis courts and swimming pools. Diplomatic Greens has been designed by internationally acclaimed architecture firm ARCORP and come in the price range of Rs 1-3 crore.
Hotel BRYS Fort
BRYS Hotels Pvt. Ltd. recently announced the launch of its first hotel BRYS Fort in Jaisalmer. BRYS Hotels Pvt. Ltd. is a BRYS Group enterprise active in the hospitality sector promoting India as a tourist destination. Making the announcement, Rahul Gaur, CMD, BRYS Group said, "BRYS Fort is a perfect destination for all travelers looking for a royal experience in a majestic ambience. I am confident that BRYS Hotels will create new benchmarks in the hospitality sector and take the group to the next level." Spread over nine acres, BRYS Fort has all modern amenities for leisure as well as business travelers. It is a perfect venue for high-class leisure and business travelers from both international and domestic markets. Equipped with luxurious rooms and suits styled in a unique and spectacular fashion and all modern amenities this 5-star hotel gives a panoramic view of the Jaisalmer city.
Fleur Greens
Acron Developers Pvt. Ltd. has launched an eco-friendly residential development, Fleur Greens, at Aldona in North Goa. This project will have 10 apartments in one and two BHK configurations. Fleur Greens is Acron's second residential development to be planned for platinum rating by the Indian Green Building Council on the basis of approved design features and construction practices. The 1BHK apartments are approximately 1053 sq ft and the 2 BHK apartments are approximately 1242 sq ft. The apartments priced in the range of Rs 23-36 lakh approximately. "Fleur Greens is ideal for home buyers and investors looking for reasonably priced and well-designed residences close to Mapusa, which is close to all the services, markets, schools, temples, churches etc. Apartment owners can enjoy the peaceful countryside environment away from the hustle bustle of the city. The famous Calangute and Baga beaches are a 30-minute drive", said a company spokesperson. — As per information provided by the developers
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Realty Bite
As the second home phenomenon gains currency in the Mumbai-Pune-Nashik belt, realty player Eiffel Group has earmarked Rs 300 crore for the next three years to launch more projects in the region, referred to as Maharashtra's 'golden triangle'.
“We will be investing around Rs 300 crore for acquiring land and building the necessary infrastructure in this area. Besides, we may also develop certain residential facilities here, which we can promote as second homes,” Eiffel Group Director Shirish Mulekar told PTI. “Eiffel Group is primarily into plot development. In realty parlance, plotted development means a developer sells large tracts of land after building basic infrastructure like sewage systems and roads,” he said. "Investment in real estate is the best option today. There is an enormous appetite for plots situated within a 90-100 km radius of the Mumbai-Pune-Nashik belt, both for ownership as well as investment,” he added. He said areas such as Pen, Neral, Khalapur and Pali, near Mumbai, are a part of the golden triangle and are on the cusp of rapid development, as several infrastructure projects are coming up in the vicinity. “Buyers are looking for investing in prime home projects in the city and its vicinity as prices are on fire in the city. But a property with a lower ticket price gives an opportunity to a common man as well as investors,” he said. Moreover, Maharashtra has laid huge emphasis on infrastructure in the golden triangle, such as Panvel-Karjat rail connectivity, the Murbad highway and Sewri-Nhava Sheva trans-harbour link. The company has already acquired 500 acres in the area for plotted development and plans to acquire another 2,500 acres over the next two years. In August, 2011, the company had entered into an agreement with India Realty Excellence Fund (IREF), managed by Motilal Oswal Private Equity Advisors, to undertake plotted development projects at Karjat. “We have already tied up for Rs 100 crore through the IREF deal. Eiffel will be pumping in Rs 100 crore. Besides, we will tie up with other financial institutions for another Rs 100-150 crore,” he said. — PTI
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Living with vaastu
Religions can be different but the principles governing worship are more or less the same everywhere. And worshipping is just another form of meditation. Puja room is an important part of an Indian household. By creating a room for worshipping, we, in fact, create a room to get charged with positive vibrations and that energy energises our environment, mind, body and soul. Meditation increases one's efficiency, progress, prosperity and peace of mind. However, these days due to space constraints many people can't have a separate worship/puja room. But one can always create space for connecting with the Creator. Here are some points as per Vaastu, which you should keep in mind to get the maximum benefit of meditation whether you live in a big house or a small flat.
Precautions
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Ground Realty
Construction of a house demands preparation of a number of drawings and details by the architect. There are many major and minor items involved in construction work. Each item can be taken in hand and executed only when the drawings showing its full details are available. While the architect has to understand that his job is endless till the actual completion of the house, the house owner must not allow the working gangs to take up an activity unless its drawing, well prepared with full application of mind has been made available. It is, thus very important to know in detail about the drawings that will be required for getting a house constructed.
The drawings required for construction of a house can be divided into many categories. Let us consider each category and the drawings required under it:
Basic drawings
The basic drawings of the house are its key plan, the ground-floor plan, first-floor plan, the basement plan in case a basement is being constructed, the elevation of the house and plans of higher level floors, if any. These are the few drawings that take maximum time for finalisation. Keeping the building bylaws in view, the architect presents many plan alternatives before the house owner, makes changes in them as per demand till the time the owner finally zeroes in on one of the plans. Once the ground floor plan is ready, first floor drawing and the elevation drawings are easier to finalise.
Structural drawings
These drawings are the most important from the structural safety point of view. These include the foundations and column drawings, the drawings of basement walls and slab in case a basement is to be constructed, the plinth band drawing, the lintel band and window projections drawing, the ground floor slab drawing, first floor lintel band and projections drawing, first floor slab drawing and staircase drawings. The structural engineers of the architect prepare these drawings after making design calculations and by evolving earthquake-resistant design of the house. Similar drawings are required for upper floors also if the house has more than two storeys. Each structural drawing shows the dimensions of the beams, columns, slabs and other members and the steel reinforcement to be put in these structural members. The quantity of steel required and its cut lengths are worked out from these drawings.
Water supply drawings
The position of various fixtures in the toilets like the seats, wash basins, the bath tub and the showers stands already decided in the plan drawings. Kitchen in plan also shows the position of sinks and refrigerator. The water supply drawings are prepared for these fixtures to show complete layout of water supply pipe network inside and around the house building. Connections of pipes to the submersible pump or municipal water supply, to the overhead tank and to various fittings in the toilets, kitchen and other areas like ducts, front courtyard, back courtyard, washing area etc. are shown in these drawings. These drawings are prepared by keeping one point in view that no water supply line passes under a floor but is run in the walls only.
Toilet details
A drawing is prepared for each toilet separately. It shows the exact position of its provisions like the seat, shower, shower cubicle, bathtub, wash basin, mirrors, towel rails, shelves, cabinets, hooks etc. The size, colour and make of the fittings are also shown. Details of flooring, wall tiles, height of wall tiling are also shown in these drawings. Drainage drawings: These drawings show the location of all drainage pipes embedded in the walls. The pipes connecting floor traps to the vertical drainage pipes and the location of soil waste pipes are marked. Generally, the architects use a colour code to identify the waste water pipes, rain water pipes and soil waste pipes. The position of gully traps, inspection chambers and manholes is also shown along with slope of horizontal pipes. The make, diameter and specification of pipes, traps and other fittings are also shown. A drawing for each floor has to be prepared separately.
Electrical conduit drawings
These drawings show the position of switch boxes, fan hook boxes, light boxes, conduits for wiring, their sizes and specifications, conduits for split air conditioners, conduits for LCD and DTH cables, exhaust fans, call bells, gate lights, lawn lighting, concealed lights in cupboards and other fittings. These drawings need to be prepared very carefully by visualising the position of ACs and LCDs and other fittings. The light switch boards need to be kept near the entrances for easy location in the dark unless switches with glow light are being used. A drawing for each floor and all electrical embedment in the RCC needs to be prepared.
Terrace plan
A terrace plan drawing showing the location of rainwater pipes and slope of the terrace floor towards these pipes needs to be prepared separately. The rainwater pipes need to be located carefully in outer walls so that all pipes get almost equal terrace area for drainage purposes. The location of water tank should also be marked. Provision of gratings over rainwater pipes to avoid their blockage by foreign objects should be shown in the drawing itself so that these are not missed by the contractor.
Kitchen detailed drawing
A drawing showing the details of kitchen should always be prepared. It shows the location of the kitchen shelf, its height and width, wall tiling above the shelf, location of sinks and refrigerator, storage cabinets, tall unit, type of trolleys and baskets, location of chimney, burner and other minute details. The type of flooring, the specifications and makes of all fittings are also given in the drawing. The type of shutters for cabinets and their design is shown as per choice and liking of the house owner.
Woodwork drawings
A number of drawings need to be prepared to cover the woodwork in the house. One exclusive drawing is devoted to the main entrance of the house as people like to have an extra wide door-cum-window at the entrance with a special design of the door. One drawing showing the sizes, widths, sill levels and top levels of all doors and windows needs to be prepared. It shows the paneled, glazed and wire-mesh portions, size of door frames, thickness of doors and sizes of shutter members. This drawing helps in working out the quantity of wood required in the house. Another drawing showing the door and window designs is to be prepared.
Cupboard drawings
Drawings showing details of walk-in cupboards, wall cupboards, LCD panels, shoe racks, meter niche, sliding doors if any, study cabinets or units, puja cabinet (in case a separate puja room is not provided), crockery cabinet, dressing cabinets are also required for packing a house with all the provisions dreamt by the house owner.
Railing and molding drawings
Drawings showing details of staircase railings and balustrade need to be prepared separately. These days, molding is preferred to be provided around the door and window frames. It is better to get its drawing prepared and to get it made at site from the carpenter rather than buying readymade molding from
the market. Miscellaneous drawings: In addition, drawings of false ceiling or POP work need to be prepared. Drawings of main gate, boundary wall showing its design and features, name plate, balcony railings, window grills (if provided), staircase details, curtain rods, security provisions, spiral staircase, normally provided in the back terrace, front steps and courtyard flooring, gas cylinders' location and pipe, recharge well are also prepared as per requirements. — This column is
published fortnightly
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More towers in Wellington Heights
TDI group recently added almost 154 flats in three new towers in its Wellington Heights project in TDI city Mohali, Located on the Chandigarh-Kharar road and built in a scheme area of 7.45 acres in Sector 117 of TDI City Mohali, the new towers will have 2 and 3 BHK apartments at competitive prices.
Speaking about the customer friendly payment plans offered by TDI, Sanyam Dudeja, COO-Punjab of the group, said, " We are offereing two payment schemes to customers - subvention scheme and construction-linked scheme. Under the subvention scheme, the property is offered at a basic price of Rs 2750 per sq ft. As a part of this scheme, the customer has to initially pay 15 per cent of the total cost and no payment is to be made for the next 36 months. The price in the construction-linked scheme is Rs 2650 per sq ft and in this scheme the customer has to make the payment as the construction progresses". — TNS
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