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More homes on Haryana platter
RBI repo rate cut
Decor trends
Green house
Home Imrovement Realty Bites
Tax Tips
REALTY GUIDE
Vaastu wisdom
Launch Pad
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More homes on Haryana platter
The dream of owning a house is going to become a reality for more people in Haryana very soon. In a development that will make housing available to a larger section of society, the Haryana Government has relaxed norms for the grant of licences to group-housing societies across the state.
Under the revised norms framed by the Department of Town and Country Planning, the licences to develop a group-housing society can now be granted for an area up to five acres instead of the current 10 acres." The decision, which has been hailed as pro-people, would give a boost to the housing sectors and go a long way in popularising apartment culture in a state where land is becoming scarce and costly with the each passing day," a senior government official said. Currently, the licence for developing a group-housing project can be considered in any residential sector in an area measuring up to 20 per cent of the sector (net planned) area. But the minimum 10-acre clause was coming in the way of many such projects. As some officials revealed that there were instances where the licence application for independent group-housing projects were not considered since the available area left within the 20 per cent area limit was below 10 acres. However, the new rules would be applicable with regard to the new applications only. Moreover, the applications already received would be decided as perthe existing policy. The applications against which the letter of intent has been issued or licences issued or rejected will not beentertained again, the officials added. Allaying the fears that the urban planning norms would be compromised, the officials said the provision of community facilities shall continue to be governed by the actual requirements of the project andurban planning norms. The housing projects, which had earlier been granted licences, shall not be allowed to be de-licenced for the purpose of availing benefit under the present policy. In fact, strict enforcement of the existing urban planning norms would be the hallmark of the new rules and any deviation would not be allowed from the existing rules and regulations, the officials added With major towns in Haryana, particulary in the National Capital Region (NCR) bursting at the seams due to large-scale urbanisation, the builders and general public have given thumbs up to the new rules. "The revised norms would give the much-needed boost to the housing sectors which is passing through a correctional phase," says V.S Aggarwal, director of a well-known construction company based at Gurgaon. Another builder said the bureaucratic redtape needed to be reduced as it delayed the housing projects unnecessarily and put extra financial burden on the buyers. "The real estate sector in the state is still highly regulated. There is need for the state government to be more pragmatic and transparent in its functioning so that the housing dreams of lakhs of people in the state could be realised," he added. Reflecting the positive response of investors and end-users Dilip Kumar, an IT professional and investor, said the new rules would give a boost to realty sector in the state. "As the real estate sector is a major driver of the state's economy, more dwelling units would mean more competition among the real estate players ensuring a better deal to the end users
and investors." However, striking a note of caution, Sikandar Singh, a resident of Faridabad, said, "While the norms seem to be good and for the benefit of the public, the state government should ensure that the urban planning norms were not sacrificed at the altar of
urbanisation."
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RBI repo rate cut
These are the questions that are doing the rounds in realty circles ever since a cut in repo rate was announced earlier this week. The RBI surprised everybody by decreasing the repo rates by a full 50 basis points (0.5 per cent). “I think fence-sitters will come into the market now," says Lalit Kumar Jain, president, Confederation of Real Estate Developers Association of India (Credai). He expects home sales to go up by 10 to 15 per cent on a month-on-month basis and 20 per cent cumulatively on a yearly basis. But will home loan lenders oblige home loan seekers? The industry watchers are hopeful of a rate cut in the wake of this move. As Harsh Roongta, CEO, Apnapaisa.com. opines, “It is heartening to see ICICI, Punjab National Bank (PNB) and IDBI Bank lower their home loan interest rates already. The last interest rate cut was in April 2009. Between March 2010 and October 2011, RBI had raised interest rates by 3.75 per cent through 13 consecutive rate hikes.” ICICI Bank’s revised base rate will be 9.75% as against 10%. ICICI Bank has reduced its benchmark prime lending rate by 0.25% and its ‘Floating Reference Rate’ for Cautious cheer Though the RBI move has lifted the spirits in the realty sector on the whole, not everyone is sharing the cheer. However, several would be buyers are also apprehensive as the increased sales usually translate into appreciation in the property prices. If that be the case now, then whatever benefit they are hoping to get from low home loan interest rates may be significantly diluted by property becoming costlier. The industry watchers also feel that the prices are not likely to go down any more. According to Om Ahuja, Ceo, Residential Service, Jones Lang LaSalle, “It is unlikely that property prices will come down because of this rate cut. In fact, it is very likely that there will be an upward bias on property rates because of the anticipated high sales.” “With the signs of economic recovery and this cut which has led to low home loan rates, one can expect better sales in the coming quarters,” said Sanjay Khanna, Director of Kailash Nath Projects Pvt Ltd, adding, “It is a well-known fact that the real estate sector is heavily dependent on non-banking finance. Till the time the liquidity situation improves and banks start lending, I don’'t think sale prices will reduce.” However, keeping in mind the fact that the RBI has only increased rates nearly 13 times over the last two years, the current drop is not going to bring home loan rates close to the 9% range which was the rate in 2009. On the supply side, prices of apartments are not going to drop as the increase in input costs due to the excise rate revision and high inflation over the last year. Given this scenario, I expect only a marginal increase in residential sales over the next two quarters, says Ganesh Vasudevan, Vice-President and Business Head, IndiaProperty.com With banks tightening credit to the real estate sector, developers were forced to take money from non-banking finance companies at 16-18 per cent and from private equity funds at 20-24 per cent, say property consultants. Welcome relief Another major relief for home loan customers is that the pre-payment charges for home loans are now withdrawn. This means, that if somebody pre-pays the loans, there can't be any pre-payment charges. Hailing this move Gaurav Gupta, Spokesperson, Raj Nagar Extension Developers' Association, says, “This will force banks to pass on the benefit to even the existing customers as otherwise they have the option of moving to other banks where the rates offered are competitive and as per current market scenarios. However, the fundamentals of the real estate sector will not change drastically with the RBI move. With the RBI’s announcement of reduction in interest rates on home loans, there is now a possibility of people buying affordable homes and it will initiate positive sentiment towards home loans. Though many banks have, in the recent past, voluntarily abolished the pre-payment penalties on their floating rate home loans, there is a need to ensure uniformity across the banking system in this regard. The Confederation of Real Estate Developers Association of India
(CREDAI) said the pre-payment penalty clause will add to the cheer in the sector. Pradeep
Jain, Chairman, Parsvnath Developers Ltd and Chairman CREDAI said, “The RBI has removed pre-payment penalty clause which is definitely going to bring cheer to the borrowers.” Accepting the Damodaran Committee recommendations to abolish foreclosure charges levied by banks on pre-payment of home loans, the RBI has instructed banks to not levy foreclosure charges/pre-payment penalties on home loans on a floating interest rate basis. “Buying a house should be a little easy now as the RBI has slashed repo rate. Now, consumers can look forward to a reduction in the interest rates on housing loans,” feels Devinder Gupta, CMD of DGS Realtors, adding “the repo rate cut should translate into lower home loan rates for consumers. It would benefit home owners, boost consumption, investment demand and lead to a more positive market sentiment.”
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Decor trends Which explains why new -age architects are being driven by a sudden sense of urgency. The realisation of dwindling energy resources has seen a dramatic alteration in construction plans and homes are being designed in such a way that they make abundant provisions for natural light. However, those living in relatively older houses are realising that there is hardly any scope for making use of the free light beaming down on them everyday. Is there a way out for them? Architects and interior decorators say that by making a few changes they, too, can reduce their reliance on artificial lights and illuminate their homes naturally. New windows To get the optimum natural light it would be best to try and create a window on the southern wall as this gets the maximum amount of sunlight throughout the day. However, you would have to take professional help to create a new window in order to avoid disturbing the wall structurally. This must be done aesthetically so as not to affect the overall look of the house or apartment. The rule of the thumb is that a window should not be more than 15 per cent of the total wall area. This is an adequate size to effectively light up the room with sunlight. Glass walls But large windows, French doors and glass walls will not entirely illuminate the room. There will be nooks and corners that will still be dark. Here designers recommend a clever use of decorative mirrors that can be positioned to reflect light where direct sunlight does not reach. Clear out the blocks Once the windows and glass doors are in order it would be important to clear any bushes or trees or any other external growth that blocks out sunlight. Though cutting them is not advisable it would be best to trim them in such a way that you get the maximum natural illumination inside the house. This process would have to be repeated every few months. Change the drapes Once the windows are re-done, it would be time to change the drapes. These should be made from a special light fabric that can be tied back. Or, if privacy is an issue you can go in for sheer fabric of voile or muslin that lets in the sunlight but shuts out nosy neighbours. You could also consider using blinds. These are a trendy, no-fuss and easy-to-maintain smart option to let in as much light as you desire. Do not use heavy curtains as these would block out the light and defeat the very purpose of having large windows in your room. Also you should make sure that the window glass is spotlessly clean. A dirty window can block almost 60 per cent of sunlight. Tubular skylight A trend that is becoming increasingly popular in upmarket homes and apartments is of ‘tubular skylight’. This is a periscope kind of devise that transmits sunlight through a roof opening of around three sq. ft. by the means of a cylindrical tube made of a highly reflective material. The skylight lights up a room but does not transmit the heat. So no matter what floor you are on the flexible tubing will reach your apartment and illuminate it with natural sunlight. With the increased emphasis on natural lighting in homes, designers are coming up with novel concepts of letting the sun inside the rooms. Numerous studies have shown that natural light beaming down from the sky is great for health. It regulates the body's rhythm, energises us and positively impacts the mood. It improves general well being besides conserving energy that is becoming scarcer by the day…and night! A view of the sky Another popular way to let sunlight cascade into the house is to have an open-to-sky shaft with sloping fibreglass panes. This will let the sunlight in but shut out the strong winds and rain. However, the panes should be the ones that open easily. This will ensure not just adequate natural light but also ventilation when required. — NF
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Green house
We have already talked about Adenium or the desert rose which is a favourite with plant collectors for its unique caudex and beautiful flowers. The glory of this flowering plant increases manifold with grafting as its hybrid varieties are becoming increasingly popular these days.
Adenium hybrids bearing clusters of colourful multi-petal flowers and beautifully carved caudices are among the most sought after plants all over the world. The technique of grafting has made it possible to produce a number of mature plants within a short span of time to meet the demands of adenium enthusiasts. Grafting of adeniums is an easy and enjoyable task which should be experienced by all plant lovers. As there are numerous adenium hybrids with beautiful flowers, there is always a temptation of having more and more of such plants. Grafting is the best way to reproduce more adeniums of the same kind with an added advantage of a good caudex and without much labour. Large scale propagation of adeniums for commercial purposes is usually done through grafting only. Vigorously growing adenium obesum is normally used as a stock material for grafting. Grafting should be carried out during the growth period and this is the right time to graft. Both flat grafting and V-cut grafting are suitable for adeniums. Some of the popular adenium hybrids are Red Rambo, Purple Viola, Sweet Blossom, Double Bonanza and Triple Amazing. Hybrid adeniums should be bought only after seeing the colour of their flowers because many hybrids are being sold by different names, but end up giving the same flowers. Multi-grafting an eye catcher To create a stunning and a masterpiece adenium having abundance of colours in a variety of flowers, adenium hybrids are multi-grafted on to each and every branch of a mature adenium obesum plant. Graft to beautify variegated adeniums Variegation in adenium occurs in the form of blotches and stripes due to mutation in leaf cells, which replaces the normal green portion of the plant leaf in different degrees with white, yellow, and cream or any other colour. With reduced green in the leaves, these plants do not remain as robust as their counterparts with full green leaves. Hence to have a robust variegated adenium with an oddity, it becomes imperative to graft it onto a vigorously growing adenium obesum. Bonsai bounty These floral adenium beauties are natural bonsai material and can be trained into bonsai in a comparatively short time. Select adenium having a broad root base and long branches. To give the desired bonsai shape to the plant flexible wires are used. For the branches to become softer and easier to wire it should be ensured that the plant is not watered for 4-5 days before wiring is done. Keep pruning the leaves periodically to create a good foliage effect. — The writer is President of the National Cactus and Succulent Society of India. Hybrids — a preferred choice n
watering only in summers. n Bear a natural bonsai character and hence need less time to be trained. n
Wide choice. n Almost disease free except that the plants rot due to over watering. Materials required for grafting
adenium: n Rootstock of at least a year -old seed grown adenium obesum in active growth with a well developed caudex; seed grown adenium forms a better caudex as compared to plants grown from cuttings. n
4-5 cm of scion cutting in active growth from the desired adenium species which is required to be propagated; thickness of which should be less than the root stock thickness. Remove all the leaves except 1-2 at the top. n
A sharp knife sterilised in boiling water for about five minutes to avoid any infection. n
Plastic tape to hold stock and scion together. n
A transparent and a clean plastic bag to help create some humidity to promote better union. Post grafting care n
Place the grafted plant in a shady and cool location. n
The compost should be kept moist till the sprouting of fresh leaves on the scion following which the plastic bag is removed. n
Gradually shift the plant to partial sunlight and later to full sunlight. n
Remove the tape after the grafting union has fused well. It usually takes about a couple of months. n For good growth of scion, remove any sprouts coming from the root stock with a knife. Pick of the week Faucet fashion Check out Prayag India’s Swirl series single lever basin mixer faucets that are minimalistic in style and trendy. A fashionable tap fitted in a basin, the faucet comes with a lever and is capable of mixing water effectively while maintaining a perfect flow. With an array of benefits the sturdy construction and surface plating of 0.3-0.7 micron chrome and 10-14 micron nickel adds to the enhanced usage of the faucet. Possessing features such as optimum resistance to corrosion, cold & hot water and fully foam flow, Single Lever Basin Mixer provides smooth functioning with the usage of best possible technology. It comes for a price of Rs 4920. The raw effect Check out Pergo's new, patented design feature Natural Variation that gives each plank a chalked and rustic look creating endless pattern variations just like natural wood. The new feature provides a combination of the distinctive character of genuine wood flooring with all the advantages of durable laminate. The planks are available in 1288x195x9mm and are priced at Rs195/sq ft
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Home Imrovement
Do thorough research Advance research is always best to know what you want and how you want to renovate your home. A detailed study of the current trends and your needs and budget will go a long way in achieving a perfect harmony between ideas, desires and the ground reality. There are ample sources where you get options on how to renovate your home properly. Ensure that you make a list of things you want to refurbish. You can consult professional home renovators who can renovate your home the way you want it. Another easy way to search is to surf the Internet where you can get vast options that suit your priority. Look into magazines, books and websites for new trends and designs. Visit your neighbours, friends and relatives who have renovated their homes recently and hear their experiences. This would be a great help for you to get ideas, insights and inspirations. Setting a budget is one of the major steps involved in renovation. Apart from the renovation cost, there are other things also which you should consider while finalizing your budget. These include cost of labour, materials, interior designer, cost of architect, cost of paints, furnishing and also cost of living arrangements — i.e. an alternate place to live during renovation. Proper budgeting will help you in the long run because for every single thing you have a pre-determined figure. You can also visit professionals who can help you to set the total cost of renovation. Seeking pre-approvals If you are planning to take loan for renovation then secure the loan before starting the renovation. It is better to secure a loan at an early stage because getting a loan approved may be time consuming, which can cause delay in your renovation process and you can have problems with the contractor or builder. There are loans for renovations such as home-improvement loans, construction loans, personal loans etc. Engage a builder to turn your renovation concept into blueprints and with the help of that you can approach the contractors. Good builders will always give you fruitful ideas and suggestions regarding designs and cost outlook that will match perfectly with your budget. You can ask your builder to quote the overall price for renovation. Ensure that you provide all required information to your builder to avoid further difficulties in future. Approach a renovator In renovation process, this is one of the most important steps. Ensure that you approach a professional renovator for your home as it involves costly investment. Before approaching a renovator, do a quick search about the renovator and past work experience. You can ask your friends and relatives about their experience on some professional renovators and their style of work. To avoid future hurdles, you need to get good renovator to hand-over your home for renovation. Contract procedure After you have decided the budget, contractor and the renovator, it is time to sign the contract papers. The contract paper should include all the work details and specifications, start date of construction, payment schedules etc. before signing the contract, read every detail mentioned in the contract paper. Be watchful Signing the contract and assigning your home for renovation is not the end of the story. You have to be attentive and keep an eye on work progress. It is your home so it is your responsibility to look whether the renovator is going in the right direction or not. Check on the renovation process and see the work is going in the way how you wanted and your home is going to look the way you had wanted it to look. Check with the renovators whether the trend and design you’re looking for being executed properly or not.
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Realty Bites
SARE (South Asian Real Estate) Homes won three awards at the Realty Plus Excellence Awards 2012 - North recently. The three awards included, 'Residential Property of the Year' for Green ParC-II in Sector 92, Gurgaon; 'Affordable Housing of the year' for Ebony Greens on NH-24 in Ghaziabad; and 'Emerging Developer of the Year' (South) award for its project MeadowVille on Koltahur GST in Chennai. Realty Plus Excellence Awards (RPEA) is an annual award, which felicitates the contribution of real estate companies. The winners were chosen after a rigorous selection of developers from the entire northern region.
SARE Homes is a FDI-funded real estate investment and development company. At present it has invested in seven integrated projects in Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore which represent approximately 36.5 million sq. ft. of developable area. — TNS Adani Realty to invest 1,200 cr in Mumbai project Adani Group's real estate arm Adani Realty Business plans to invest Rs 1,200 crore for constructing a 29-storey structure in suburban Mumbai. "We plan to invest around Rs 1,200 crore for this project which will be one of the tallest structures in this area. We expect to launch the project in May-June," Adani Realty Business Chief Executive Officer Tarwinder Singh said in Mumbai recently. The upcoming project in the plush area of Lokhandwala Complex and Seven Bungalows in Andheri, will offer premium retail and commercial office space of about 1.3 lakh sq ft and nearly 7.5 lakh sq ft of residential space, he said. "The newly-proposed project has been specially designed, keeping in mind the requirements of different categories in Mumbai. It is well connected to different parts of the city and also close to many up market entertainment and retail hubs," Singh said.
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Tax Tips
n If one has booked an under-construction flat for which payment has to be made to the builder at different stages of construction, then is it possible to withdraw the amount from the capital gains account in installments as per the payment schedule for the flat? n
In-spite of an agreement whereby a builder promises to give possession of the flat within two years, if the handing over of the flat is delayed beyond two years, is there a provision to obtain extension of the stipulated period of utilising the capital gain?
— teji bakshi
A.Your queries are replied hereunder: There should be no difficulty for making payment to the builder in installments by withdrawal of such installments from the bank account maintained under capital gain scheme. The account under the said scheme is meant for the purpose of utilisation of the amount so deposited towards the purchase or construction of a residential house, as the case may be. There is no provision in the Income-Tax Act 1961 (The Act) for the extension of the period of two years for purchase of a residential house for utilisation of the capital gain. In few cases, however, it has been held by the Income-Tax Appellate Tribunal that where a person has paid the entire amount for the purchase of a residential flat but the possession thereof has not been handed over within the period of two years specified in the Section, the assessee should not be denied the benefit of exemption under Section 54 or 54F of the Act. In case you claim the exemption on the said basis, you should be prepared for the litigation on this issue.
What are best options to save tax?
A.On the basis of the figures mentioned in the query, the indexed cost of the agricultural land would work out at Rs.1,78,588. The amount of capital gain would thus be Rs 5,91,412 (7,70,000 - 1,78,588). You will be liable to pay Income-Tax on such capital gain @ 20 per cent plus education cess of 3 per cent thereon. The amount of tax liability would work out at Rs 1,21,831. You have following options to save the aforesaid tax: n
You can invest the amount of capital gain towards the purchase of tax-saving bonds within six months of the date of sale of the land. n
You can purchase a residential house by utilising the amount of Rs 7,70,000 within two years after the sale of the land. n
You can construct a residential house by utilising the above amount of Rs 7,70,000 towards the construction within three years after the date of the sale of the land. So much of the amount as is not utilised for the purchase or construction of a residential house before the due date of filing the tax return should be deposited in a bank under the capital gains scheme account on or before such due date for being utilised towards the purchase or construction of a residential house within the period specified hereinabove. Please note that this reply is based on the presumption that the agricultural land purchased by you was not situated within the municipal limits or within such distance of the municipal limits as notified by Central Government in this regard.
Is patwari's refusal justified? Q.I purchased an 8x 24 ft booth plot in 1990 in a residential-cum-commercial colony carved out of a village agriculture land very close to a big town of Punjab. The colony was subsequently regularised by the state government. It is now having functional residences and commercial shops etc. and the area is likely to come under municipal limits in the near future. Then in 2009 I constructed the booth and it has been lying locked since then and as I don't want to pay unnecessary electricity charges, I have not got the electricity connection also.
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Although I had got the plot registered in 1990, but due to negligence and ignorance I could not get the mutation done. Now I want to sell the booth. The prospective buyers insist on mutation and hence FARAD. However, when I approached the area patwari, he said that mutation can't be done now because there is no land left in that particular khasra. The registration document is in my possession and the plot and constructed booth on it is also in my possession. No one has ever raised any type of objection earlier. n
What should I do? Is there any way of getting the mutation done under the prevailing circumstances?
— atul gulati A.You should approach the authorities by making a written request for the mutation of the land beneath the booth. In case of refusal on their part, the only alternative is to approach the Court for seeking a direction to the authorities to effect the mutation.
Get mutation to avoid problems
Is it required to get it done with the patwari also?
- sudhir gupta
A.It will be advisable to get the mutation done with the patwari so as to avoid any complication in future.
Can I contest a Will to get my share?
A.You have stated in your query that the Will was made by your father but it has not been clarified in whose favour the Will was made. In case the land was inherited by the three brothers in accordance with the said Will, then it will be difficult for you to contest the devolvement of the land to three brothers unless you can prove that the Will was obtained by your brothers due to fraud or undue influence. In case of a self-acquired property, the deceased's wish would prevail as he had a right to execute a Will in favour of any person who may not be a relative of the executor of the Will.
Can I construct one room to avail of exemption?
A.An individual assessee can claim exemption from the taxability of the long-term capital gain under Section 54 of the Act provided the long-term capital gain is utilised towards the construction of a residential house in his name. The exemption can be claimed if an independent floor is constructed on the existing house. It may, therefore, not be possible for you to avail the exemption in case only one room is constructed which cannot be considered as an independent residential house.
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REALTY GUIDE Q.My mother and my uncle were named by my grandmother as joint inheritors of her property (house with shops in the front portion) in her Will. However, this property has not yet been divided between my mother and uncle and is still in the name of my late grandmother in revenue records. My uncle is settled in USA for more than 30 years, while we live in the said property. As at present we are facing serious financial problems, we want to sell our share of the property. My uncle is well off and is not interested in doing so. What is the way out in such a situation? — rajdeep singh A.To make a clear and transparent title of the property in the question it is advisable you should first of all Probate the Will. Probate means copy of the Will certified under the seal of a court of a competent jurisdiction. Probate of a Will, when granted, establishes the Will from the death of the testator and renders valid all intermediate acts of the executor as such. It is conclusive evidence of the validity and due execution of the Will and of the testamentary capacity of the testator. A Probate differs from a succession certificate. A Probate is issued by the court, when a person dies testate i.e. having made a Will and the executor or beneficiary applies to the court for the grant of a Probate. Probate can be granted only to the executor appointed by the will. The appointment may be express or implied by necessary implication. On the satisfaction that the Will in question has been validly executed the court will grant probate to the executors named in the Will. After obtaining the Probate your mother and uncle will become the undisputed absolute owners of their shares in the property. Then your mother can sell her share. New schemes in tricity Q.Can you give me some information about new affordable housing schemes to be launched in Chandigarh or in the areas nearby by CHB and
HUDA? — rahul chaudhary A.Some of the new schemes are: n
The Chandigarh Housing Board (CHB) has planned to float a new housing scheme preferably for EWS during 2012-13. n
As part of its Panchkula Residential Plots Scheme (HUDA) is to offer 635 residential plots in Panchkula and this scheme shall open in May 2012 n
The Haryana Urban Development Authority (HUDA) will launch new residential plots schemes in the already-developed residential Sectors in the different urban estates in the state soon.
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Vaastu wisdom Q. I will be purchasing a plot to construct a house. How can I determine the correct directions of a plot? — s.l. shingari
A. The direction of a plot can be determined easily by using a compass. Make two lines crossing each other dividing a paper in four equal parts at 90-degree angle. Place a compass on paper in the middle of your plot and align it with two lines in the North and the South of the needle of the compass. Extend these lines on the plot and mark it to have the exact direction. Q.Which is the best location for bedrooms?
— shikha sharma, gurgaon. A.The southwest portion of a house is ideal for having bedroom for adults. If you have a double-storey house then the master bedroom on the first floor and in the southwest direction would be good. Q.What should be the best location of storeroom?
— vivek varma A.Storeroom should be made in the northwest or southwest portion of the house. It is very beneficial if grains and other provisions are stored in a room located in the northwest direction. All heavy things may be stored in the southwest of a storeroom. Garbage may be collected in the southern side of a house. Q.Is it true that, north and east are the only auspicious directions for the main door of house/workplace?
— ajit singh ahluwalia A.Generally it has been observed that the health of women doesn't remain good in houses that face south i.e. the houses whose main door is facing south. But it is not entirely true that north and east are the only auspicious directions. Actually it is a person's birth data that determines auspicious directions for his home. Every individual has four favorable and four unfavorable directions as per his/her date of birth. If north or east comes under unfavorable direction on the basis of the date of birth of a person then these will bring adversity. One must seek expert opinion to know about the right directions. Home truths Q. We live in a rented flat and the kitchen and bedrooms of this house are not as per the vaastu principles. Should we take steps to correct it even though it is not our own house?
— m.s. oberoi A. The vaastu dosh of a house will have ill effects for the people living in it, be it the owners or the tenants. So if you feel that in your rented house there is a mismatch of directions leading to a negative balance of energies, then you should take corresponding remedial measures immediately.
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Launch Pad
Elevations and Creations and Nine O Nine Realtors Pvt. Ltd., recently launched a new real estate company ECNON. The new joint venture will be investing Rs 350 crore to develop three projects in the NCR region over the next three to four years. Talking about the these projects Kushal Dev Rathi, MD & CEO of Elevations & Creations, said, "Out of these, group housing and an office project will be developed in Noida, while another office complex will be built in South Delhi. The company will construct 850 housing units in the residential complex, proposed to be built in Noida. The company is in talks with authorities for the two projects that will be coming up in Noida."
Godrej Properties spreads wings Real estate developer Godrej Properties has entered into an agreement for developing about 1.36 acre of land in the posh area of Alipore in Kolkata. "Like most Godrej Properties projects, this project will be done on a joint venture basis. The project is expected to be launched in January, 2013 and is estimated to be completed in 3 years," the company said in a statement. The project is envisioned as a luxury project with modern specifications and will be 14-storey tall, it added. "This will be our fourth project in Kolkata and fits in well with our strategy of adding quality residential projects in different parts of the country," Godrej Properties Managing Director Pirojsha Godrej said. The company is currently developing significant projects in 12 cities across India. Plots on offer Taneja Developers & Infrastructures Ltd. (TDI), has added residential plots to its bouquet of products in TDI City-I, Sector 117, 118 & 119, Mohali. The sizes of the plots offered in the 300-acre integrated township are 250, 350, 500 and 1000 sq. yd. Speaking on the occasion Sanyam Dudeja, COO-Punjab, TDI Ltd. said, “With the upcoming 200 ft wide Airport Road the property rate in the periphery will definately rise. This is the best time to invest in property. The initial price of the plot in TDI City-I was 6500 per sq. yd., currently it is 30,000 per sq yd. and is expected to rise up to 45,000 per sq yd. owing to the upcoming airport road. ”
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The dream of owning a house is going to become a reality for more people in Haryana very soon. In a development that will make housing available to a larger section of society, the Haryana Government has relaxed norms for the grant of licences to group-housing societies across the state.
Q.My mother and my uncle were named by my grandmother as joint inheritors of her property (house with shops in the front portion) in her Will. However, this property has not yet been divided between my mother and uncle and is still in the name of my late grandmother in revenue records. My uncle is settled in USA for more than 30 years, while we live in the said property.
Will home sales get a boost after the Reserve Bank of India cut repo rates by 50 basis points? Should we also expect the property prices to fall? Will the fence-sitters now apply for home loan?
Don't we wish we could save energy and make our homes ‘greener’ and also cut down on our power bill? Yes most of us would like to do that. In fact, by increasing our dependence on natural lighting during day time we can conserve precious energy and save on our power bills.
Designers say that if you have wall space, then you can either carve out new windows or simply enlarge the smaller ones. Traditionally a window has been a hole-in-the-wall. But today, windows signify much more. If made properly they give the house an abundance of natural light. 
Alternatively, you could break down a window and convert it into a French door. Another bright idea employed by some architects is to change wooden doors into glass doors which can let in plenty of sunlight. In some apartments an entire non-load bearing wall can be made of glass. 
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Require small space and hardly any care.
KRUZE Chair designed by Boss of UK by Cherry Hill Interiors is now available in India. It is made of 4-star plished aluminium pedestal base, black American walnut or oak showwood outershell, upholstered innershell in fabric/leather. It weighs around 16 kg. Price on request.
Renovation — the very mention of the word evokes mixed feelings. While one the one hand renovating your home can mean a better, trendy and contemporary look for your home, on the other hand it also means a lot of expenditure and hassle of tackling the contractors and running around to get clearances and buy materials. So renovation, no doubt is a daunting task which gives cold feet to many a braveheart. Here are some basic steps to follow which would help you to a certain extent:
Q.My queries are regarding investing the money got from selling a property if one deposits the entire amount in a capital gains account.
Q.I had purchased 58 marlas agricultural land in the Barara panchayat area in April 2004 for Rs 1,09,200. I sold this land in October 2011, for Rs 7,70,000. What will be my tax liability? Also suggest some options to save tax. — sanjeev gupta
Q.I have property in municipal limits in Ambala Cantonment for which mutation has been done with MC.
Q.My father died in 2005 and my mother is also no more now. We are three brothers and five sisters. A Will was made by my father and as per that Will my father's land was divided among our three brothers only. Me and my younger sister are married and settled abroad for the past 30 years. The Will was registered five years before my father's death. The mutation of land was made in our absence and against our wishes. How can I claim my share in the property now? Can I go to court and will I get it? My other sisters don't want anything.
— charanjit kaur
Q.I have got two residential houses; one is in my name, while the other one is owned jointly by me, my wife and two sons. I and my wife occasionally live in the house which is in my name and the upper floor of this house has been rented out. But most of the time we live in the house that is owned jointly by us. I want to spend the sale proceeds worth Rs 10 lakh on the addition/ alternation/ renovation plus construction of one new room in my jointly owned house. Can I do so to avoid capital gains tax? What are the other ways to save tax?
— additya kapoor