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Area watch:
Yamunanagar Jagadhri Ground Realty Thinkstockphotos/Getty images Tax tips Loan zone
Launch pad
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Area watch:
Yamunanagar Jagadhri A steep rise in the prices of property in these twin cities of Haryana has driven the investors and end users away triggering a slowdown Despite witnessing a major boom over the past five years, property market in the industrial hubs of Yamunanagar and Jagadhri is in the grip of slowdown which has affected the realty sector across all major cities and towns in the region. Largescale entry of speculators and investors in the market has actually triggered the slowdown as exorbitant prices are being quoted which most buyers are not willing to
pay.
The market here had seen a steep rise in prices from Rs 2,000 a sq yd about six years back to over Rs 35,000 per sq yd at present. But instead of translating into profits for investors, this boom has actually become a major hurdle in the property trade as end users have virtually disappeared from the market due to such high prices. The current drought of buyers in the market, however, is a recent phenomenon as market watchers say that things were not so glum till a year back. Pritam Pal Singh, a local property dealer says till a year back, Yamunanagar and Jagadhri were hot destinations to invest in property. “Property in the twin towns was a money-spinning affair as it offered various options for residential, commercial and industrial properties. Investors could easily find profitable opportunities in residential and commercial real estate in the twin cities. A sound infrastructure base here also attracted buyers to go in for residential and commercial properties, apart from buying industrial plots. Even the rental values had soared considerably,” he adds. And it was not without a reason that the twin cities were seen as lucrative real estate destinations. The two cities have a strong industrial base as these are home to some of the major industries, including the Northern Railway Workshop, Shree Gopal Paper Mills of Ballarpur Industries Limited and Saraswati Sugar Mills, which is perhaps the largest sugar mill in Asia and ISGEC heavy engineering limited along with around 400 big and small metal and plywood industries that bring in huge profits through their trade. This strong industrial connect had increased the investor interest, and with a number of investors parking their funds in this belt in the hope of getting good returns the prices of property soared immensely. But the boom spurred by speculation is actually driving the end users away as prices went beyond their reach. The substantial influx of cash in the area, too, has not been able to sustain the property market due to the high prices of plots and commercial property. Optimistic about the growth potential of the twin towns, a number of major property developers, including TDI, Omaxe and Ansal API, also launched some ambitious projects here. Many of these residential projects have elicited a lukewarm response from the end users. There were very few takers even for the plots carved out by Haryana Urban Development Authority (HUDA). Talking about the current situation, Narinder Kumar, a leading property dealer in the area, says most of the property trade is taking place in the HUDA sectors even as the cost of plots is still very high. Plots are available for Rs 50 lakh to over Rs 1 crore depending upon the location in the HUDA sector. “It is only here that some transactions are taking place,” he said. However, one positive aspect of the whole scenario is that the two cities have some well-planned and state-of-the-art residential projects lined up. The big builders are providing quality lifestyle and amenities in their projects. As for the ongoing residential projects of private builders in the two cities, Ansal API has come up with Sushant City, Yamunanagar, which is spread over 150 acres of landscaped greenery and an ultra-modern ambience. Plots, houses, parks, shopping complex, club house institutions, hospital, dedicated entertainment zone, kids play area are a few of the important features of this project. The Ansal Town, which is spread over 60 (approx.) acres, is strategically located in Sector 20 on the main Ambala road. It initially offered freehold residential plots and independent G+2 floors, in the price range of Rs 15 to Rs 45 lakh. According to Krishan Chand, another property dealer, the realty market could have bounced back after the state government’s announcement of a plan to develop Phase II of the Manakpur industrial sector. This new phase was slated to bring in more industries increasing the demand for housing. But the project remains a non-starter because of several reasons. The high cost of investment, which included exorbitant development charges over an investment Rs 4,500 per sq yd, had kept the industries away. Chand says the failure of this project had dampened the hopes of property dealers. He said as of now the investors are maintaining a cautious approach. The festival season, too, is not likely to give a fresh lease to the realty market this year. Parveen Kamboj, a local industrialist, said the slowdown in the twin cities triggered by the skyrocketing prices of property might take some time to end as the buyers as well as the investors are staying away as the returns are not that attractive at the moment. “However, the situation is likely to change in the next few months,” he added.
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The perfect floor beneath your feet Jagvir Goyal
When the structure of the house has been erected and the walls plastered with cement mortar, a house builder becomes impatient to lay the flooring at the earliest and get rid of the messy and dusty atmosphere created inside the building by the basic building materials like cement, bricks, sand and coarse aggregate. Only after the laying of flooring does one start having a feeling of getting somewhat near the completion of the house. The flooring to be laid constitutes of a top layer and one or two under layers. Flooring layers:
There is a large choice of floor finish materials available these days. These include Rajasthan marble, tiles, granite, katni, Italian marble, terrazzo, wood and PVC. However, whatever material you may choose for the top layer of flooring, the under layers remain the same. And the final and long-term performance of all the floorings depends on the proper laying of under layers of flooring. Therefore, utmost attention and care is required during the laying of under layers of flooring. General trend:
It has, however, been seen that least attention is paid by the building contractors to the proper laying of under layers of flooring. The general trend is to deposit the dry stone or brick aggregate over the leveled earth, to further deposit moist mix of sand and cement over it and then to apply the rammer over it. Such a work and trend is not at all acceptable for the proper laying of the final flooring layers which are so costly and beautiful but lose their grandeur owing to poor laying of under layers. Under layers:
The under layers or the base to support the top layer of flooring needs to be strong, well compacted and well treated to provide full bearing and support to the top layer. When the floor base is to be laid on the earth, it has two layers: First layer is of sand and the second of lean mix concrete. If the base is laid on concrete slabs like basement slab, ground floor slab etc, then the under layer has to be in lean concrete only. Preparation to lay the under layers:
Before laying the under layers of flooring, the earth filling inside the foundations should be leveled and well compacted. It should be specifically seen that it has no organic growth or vegetation in it. The earth surface and depth should be treated with anti termite chlorpyrifos solution. The solution should be liberally sprinkled on the surface and near the foundation walls. It should also be poured in the depth of filling by driving holes in the filled earth. Level of earth surface:
The top level of the floor should be marked on the walls and the earth level should be carefully decided and maintained. No slope is provided in the floors inside the rooms. An 8 inch depth is required to lay the sand and lean concrete. Normally, the earth level should be kept about 10.5 inch below the floor level. Ideally, it should be 9 ½” inch below the floor level but practically, it has been seen that the flooring gang demands more than 1 ½” depth to lay the flooring material and the mortar under it. Thus, a 10.5 inch depth allows a 2.5 inch margin to lay the floor topping and the mortar underneath and the flooring gang is happy with that. The sand layer:
For the ground floor, the first under layer shall be of pure fine sand. It should be kept 4 inch thick. Fine sand should be specifically purchased by telling the sand supplier that you need it to fill it below the floors. The sand should preferably be screened to remove all vegetation and gravel. The sand layers can be well compacted by frequent application of water in the rooms after laying of sand layers. If the sand doesn’t contain any earth, it doesn’t require rammer to compact it. The provision of sand layer will avoid settlement of floors. Concrete layer:
The lean concrete layer should be kept 4 inch thick. The concrete layer should be laid over well compacted sand layer in ground floor and on the concrete slab itself in first floor and above. A lean mix of 1: 6:12 is sufficient for the lean concrete layer. In case the lean concrete layer is laid over sand, stone ballast is used in it. When the lean concrete is laid over concrete slab, brick ballast is used in it. For wooden flooring When wooden flooring is to be provided in some rooms, another concrete layer should be laid over the lean concrete. The concrete mix used should be 1 : 2 : 4 for this layer. The\is concrete layer should be well compacted and finished to be perfectly in level so that no difficulty is felt during the laying of wooden tiles. The top level of this concrete layer should be kept just 10 mm below the finished floor level to accommodate wooden tiles and the sheets under them. This concrete layer should be cured well to provide a strong base to the wooden flooring. Flooring level over concrete slab:
When the flooring is to be laid over concrete slab, no sand layer is provided over it. In this case therefore, if the flooring level is kept 6.5 inch above the slab surface, the lean concrete, the top layer and the mortar layer underneath it can be laid easily. Brick ballast: Normally, brick ballast of good quality is not available at the brick kilns. What most of brick kilns do is to convert poor quality bricks into brick ballast and then sell it. Such brick ballast, if used in the lean concrete, shall get crushed when rammer is applied over it to compact it. Otherwise it will provide a weak base to the flooring. To have good quality brick ballast, a house builder should keep stacking the brick bats that get generated due to breakage of bricks during brickwork of his house. Later, labourers should be employed to convert the stack of brick bats into brick ballast of required size. The size of brick ballast should be kept around 40 mm. In case sufficient brick ballast is not generated, look out for some old and dismantled building and buy the brick bats or brick ballast from that site. This brick ballast, produced from the bricks that stood the test of time shall be strong and durable. Use a mixer:
Use of a mixer to produce lean concrete is often avoided by the labour contractor. His modus operandi is to first dump the brick or stone ballast over the slab or sand and then lay a layer of cement and sand over it. Insist on use of a mixer to produce lean concrete for floors. Ask him to prepare all the rooms at one level for laying of concrete and then engage a mixer for a day to mix the lean concrete. As the labour contractors are reluctant in hiring a mixer, they should be made to commit the use of a mixer to lay lean concrete at the time of assigning the job to them. Ram the concrete layer well with rammers. Apply water to lean concrete for next few days for its curing. The base is ready:
Before laying the final floor over lean concrete, prepare the base by cleaning the top of lean concrete with a wire brush. Remove all the loose mortar deposits, muck and debris from it. Wet the lean concrete well to receive the mortar layer. Check the top level of this concrete base with water level and create finished floor level marks in four corners of each room and at other required points. The flooring man will fix small pieces of marble or tiles etc at these points by keeping them at same water level. The base is now ready to lay the final flooring finish. This column is published fortnightly
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Tax tips Q. I am an NRI and am interested in investing in a residential flat. I have been advised by various real estate dealers that there is no restriction for NRIs to make such investments. Is there any permission required? I am being assessed in India in respect of some interest on deposits and rentals from a property acquired before I became an NRI. — Ram Pal A. NRIs can make investments towards the acquisition of a residential property without any permission from RBI or any other authority in India. Rental income from such properties will be deposited in NRO account and such account can be repatriated to you in accordance with the prescribed regulations. You would also be able to repatriate the sale proceeds of such residential property in case direct investment is made through your NRE account. How can I save LTCG tax on buying a plot? Q. I own two residential houses in two different cities. I had purchased these during the tenure of my service in these cities. The intention was to settle down at one of these places but now I have decided to sell these houses. These two houses are more than three years old. I have retired from active service and am going to settle in Noida and have purchased a plot there. My queries are:
A. Replies to your queries are as under:
Can my father claim tax exemption? Q. My father owns two different residential plots that have been in his possession for more than three years. He wants to sell these two plots and buy a new residential flat from the sale proceeds. The new house will cost Rs 80 lakh. The sale of one plot will fetch him Rs 40 lakh and the other Rs 30 lakh. Please advise:
A. Your queries are replied hereunder:
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Can brother-in-law be
a co-applicant? S. C Dhall Q. I am a Haryana Government employee. Can bank sanction a home loan with my brother-in-law as a co-applicant? —
Bhim Singh A. Though it is possible for two people get a home loan jointly, the relationship between them matters, apart from their credit profiles. Banks as a rule don’t allow friends or even siblings to take a joint loan. A joint home loan can be taken by a married couple or a parent and his or her child. In some instances, brothers are allowed to take a joint loan. However, sisters or brothers-in-law generally are not eligible to become co-applicants. Banks insist that all co-owners of the home must be co-borrowers in a joint home loan, though the reverse is not stressed. Also, you have not mentioned the loan amount that you are looking at and your respective incomes to help us evaluate your eligibility. If you must add a co-applicant to increase your loan eligibility, opt for your earning spouse or son or daughter.
I am unable to pay EMIs Q.
— Madan Lal A. The Banking Codes and Services Board of India (BCSBI) offers a free-of-cost credit counseling service to individuals who have taken home loans, personal loans, vehicle loans or incurred credit card debt up to a maximum limit of Rs 50 lakh. The service is available only if you have taken a loan from member banks of BCSBI The list of members, which currently has 80 banks, includes all state banks and most private banks and many co-operative and rural banks. This service is also available to micro and small enterprises. How to seek BCSBI’s help
The customer has to apply to BCSBI using an application form which is available online. The customer is then asked to meet a credit counselor of BCSBI who takes into consideration all details and creates a debt restructuring plan if needed. This plan is made in consultation with the bank which has lent to the customer. It must be noted that there is no compulsion for the bank has to accept the plan. The bank is free to reject or accept it partially or completely. The BCSBI counselor acts only as a mediator. All details shared by customer and bank with the credit counselor are kept highly confidential and customers are welcome to share all details with counselor.
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Garden
Gyan Choosing the right seasonal plants is not an easy task. Some of the main factors that should decide the selection of flowering plants are site, space and availability of sunlight. The height of the plants and form of flowers are also important criteria for selecting a variety. The manner in which the flowers are going to be displayed is another important factor. Always decide in advance whether the plants will be used for screening, background, border, edging or in pots and window boxes. Seasonal flowers give an impressive display when planted against a green herbaceous border. A single variety of flowers is generally grown in small or medium-sized flowerbeds. One can play on contrast by planting different kinds of flowers in different colours in a large flowerbed. However, you will need to ensure that the blooming period and duration of the selected varieties is the same else the short blooming flowers will form dry patches and be an eye sore. Size selection In public gardens where there are trees under which grass does not grow wellshade-loving plants like Salvia, Cineraria or Begoia will make the dull area lively. Make circular flowerbeds around the tree trunks to give a floral base. Where the garden area is big, a large impressive flowerbed is desirable. There could be multiple flower beds with single variety in different colours viz Petunia, Antirrhinum, Phlox, Verbina. Different kinds of flowers when planted together also form a good combination like you can try the Petunia/ Salvia/Petunia combination. The Perfect match Screening— Hollyhock, Lady's lace Background— Sweet Pea, Corn Flower, Larkspur Border— Antirrhinum, Corn Flower, Helichryson Flowerbed— Acroclinum, Antirrhinum, Kale, Branchycome, Calendula, China Aster, Sweet Sultan, Wall flower, Cosmos, Dahlia, Sweet William, Dimor, California Poppy, Gerbera, Gypsophila, Lupin, Stock, Nemesia, Petunia, Salvia, Cineraria, African Marigold, French Marigold, Nasturtium. Edging— Antirrhinum dwarf varieties, Branchycome, Pink, Candytuff, Sweet Alyssum, Ice Plant, Verbena, Pansy. Pots— Bellis perennis, Branchycome, Pansy, Kale, Dahlia, Sweet William, Carnation, Pink, Matricaria, Gazania, Lupin, Ice Plant, Nemesia, Petunia, Salvia, Cineraria, Nasturtium, Pansy. Window-boxes— Calendula, Geranium, Petunia, Phlox, Nasturtium, Verbena, Pansy. Colour effect
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Go classy with cladding While remodeling homes, homemakers would want their walls also to match with the theme of the home along with flooring and furniture, ‘Wall Cladding’ is the practical and attractive wall finish that provides protection as well as insulation inside the home. Depending upon the interiors wall cladding is available in metal, stone, timber, PVC or even vinyl form with the latest trend among homemakers being wooden wall cladding. Wooden cladding not only provides a natural appeal, versatility warmness, but the strength of wood also makes it an ideal choice for internal cladding. Wooden wall cladding serves decorative as well as aesthetic purpose. It can be laid either horizontally or vertically, or you can use it on just one part of the wall depending on the look that you are trying to create. Made out of coconut shell chips, which are made of natural coconut, this is light weight, durable and attractive. Wood is a natural insulator and wood wall cladding offer good thermal and acoustic insulation. Wood wall cladding combined with upholstery can make for a soft and warm ambience that allowances for concealing flaws and unsightly features like cables and exposed wiring. This is not possible in surface paints or wallpapering. Wood wall cladding provides a smooth clean surface, pleasant to view and touch. It is also a great option to stop dampness from ruining the interiors of a room. — With inputs from Gaurav Saraf, Joint Managing Director, Square Foot
Features
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Chandigarh Infinium Sushma group and Gupta Builders and Promoters have launched commercial project Chandigarh Infinium on Chandigarh-Delhi highway in Zirakpur earlier this week. The project is spread over an area of 4 acres and will have 7 lakh sq. ft. of office space. It will offer adapt-to-suit work space as per an entrepreneur’s office needs and requirements. The flexible office spaces will have a low common area maintenance charge as these are designed to reduce solar radiation and increase the efficiency of air conditioners. The company is offering the entrepreneurs a wide selection of flexible payment plans such as down payment discount plan, construction-linked plan, 12% assured returns plan and the flexi assured return plans. Michael Schumacher World Tower in Gurgaon London-based real estate player, Homestead, has announced the launch of the ‘Michael Schumacher World Tower’ in Sector 109, Gurgaon. Spread over approximately 5 acres, this project will consist of 28 high-rise floors and offer about 100 homes in the price range of Rs 12,000 to 14,000 per sq ft. The homes will have high efficiency in terms of areas offered. The project will have features like cantilevered helipad and glass dome at the top of the building and a duplex apartment space penthouse. In addition to that there will be a clubhouse. The development also includes a museum and a café dedicated to Michael Schumacher.
Oyster Grande in Gurgaon Adani group launched Oyster Grande project on the Dwarka-Manesar Expressway in Sector 102, Gurgaon earlier this week. Adani Realty has formed a 50:50 JV with M2K Group for this project that marks the company’s foray into high potential NCR market. The group housing project will be spread over 42 acres with a developable area of 3.5 million sq ft. The company will be developing apartments and independent floors in the mid and premium segment. The project is expected to be completed in four years time. — Based on information provided by
the developers
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A steep rise in the prices of property in these twin cities of Haryana has driven the investors and end users away triggering a slowdown
When the structure of the house has been erected and the walls plastered with cement mortar, a house builder becomes impatient to lay the flooring at the earliest and get rid of the messy and dusty atmosphere created inside the building by the basic building materials like cement, bricks, sand and coarse aggregate. Only after the laying of flooring does one start having a feeling of getting somewhat near the completion of the house.
S. C
Dhall
Seasonal flowers add life and colour to a garden. These are spaced between trees, shrubs and lawn and create a balance and proportion in the landscape. A majority of the winter annuals’ seedlings are transplanted in the flower beds between September and November and these start blooming from December onwards. A huge variety of flowering plants are available these days and it is very easy to get lost in the huge array of colours and shapes available in nurseries. 
Flowering plants are planted in descending order of their height to give depth to a flowerbed. Plant the tall flower viz Larkspur, Antirrhinum, Coreopsis, Holly Hock in the background and place medium-sized flowers varieties like, Marigold, Calendula, Antirrhinum, Lupin, Sweet Sultan in the middle. Front edging is commonly planted with Alyssum (white/blue/pink) Candytuft (white) and Ice Plant (mix or single colour). Ice plant gives a sparkling effect to the garden when it is grown along the pavements. 
An aesthetically planned flower bed with right colour choice always gives a vibrant effect. Winter flowers are generally of warm colours and as the weather starts becoming hot pleasant colours like pink, mauve give a soothing effect. A gardener must know about the basic colours (red, green, yellow) cool colours (blue, green) warm colours (yellow, orange, red) neutral colours (black, white). White flowers are commonly grown to accentuate the colours of the accompanying flowers. Muncell Colourwheel can help in choosing the right colour scheme.