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real trend: independent floors Slice of independence 
The contours of real estate trends are generally defined by the customer demand. This basic demand-and-supply equation is the factor that is fuelling the current trend of independent floors in the tricity area. Floors in Ground + 2 configuration in two or three bedroom options are the hottest selling products in the realty mart at present and generally fly off the shelves fast.
While astronomical land prices in tricity and its periphery would ideally make a perfect pitch for residential units in high rise 10-15 storey towers, the buyers’ demand has jacked up the supply of independent floors with almost every developer worth his salt coming up with an independent floor project.
Mumbai, Delhi slip on realty rankings
ECB boost for
Rentals move up in Delhi
decor trends
Green house
tax tips
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real trend: independent floors
The contours of real estate trends are generally defined by the customer demand. This basic demand-and-supply equation is the factor that is fuelling the current trend of independent floors in the tricity area. Floors in Ground + 2 configuration in two or three bedroom options are the hottest selling products in the realty mart at present and generally fly off the shelves fast. While astronomical land prices in tricity and its periphery would ideally make a perfect pitch for residential units in high rise 10-15 storey towers, the buyers’ demand has jacked up the supply of independent floors with almost every developer worth his salt coming up with an independent floor project. Though floors have been on the realty horizon for a while, it is within the past six to eight months that these have climbed up the trend meter considerably with several new projects being launched. With two major developers — TDI group and Ansal API — launching two independent floors projects in the Mohali area in the past 10 days, the developers now seem to be playing the affordability card by keeping the price band at par with that of an apartment in a high rise. The TDI group has even strategically christened its new launch ‘Affordable Homes’ where in a three-BHK floor is being offered in the range of Rs 33.5 to 38.5 lakh (depending on the floor and including the EDC charges). The project will come up in the group’s TDI City, Sector 110-111, Mohali. Ansals API, the other group that also launched its Victoria Floors project in Golf Links-II project in Sector 116, Mohali last week, has a two-BHK offering in the price range of Rs 29.9 lakh to Rs 37.7 lakh (depending on the floor).
Key drivers Commenting on this trend Ritesh Sehgal, VP, Omaxe Ltd., says, “Initially plots used to be in demand in a state like Punjab. However, oflate, in suburbs like Mullanpur, independent floors are more popular. The desire to experience the joys of community living and avoid the construction blues are the reasons that have jacked up the demand for independent floors”. According to Sehgal an interesting angle here is that most of the buyers are end-users who now have better finance options at their disposal. With end users driving the demand in this segment the developers have to offer products with the maximum value for money. Moreover, as end user is the buyer, floors are perfect for integrated city projects as these buyers will ultimately move in thus increasing the livability of a new ‘mini’ city. “Punjabis have always had a soft corner for land and independent homes and in big cities these floors come closest to owning an independent home for those who can’t afford the astronomical property prices in big cities like Chandigarh. This is the main reason for increased demand for independent floors here”, says I.P. Singh of Chadha Realtors. “I had a choice between going for an apartment in Zirakpur societies or a floor in Mohali area and as there was very little price difference, I went in for an independent floor as I can have front and backyard and there will be no hassle of parking etc.,” says Bhram Sharma who recently booked a floor in Omaxe project in Mullanpur.
Low maintenance charges is another factor that make many end users opt for an independent floor, says Deepak Makhija of Ansal API group. Terming it to be a win-win situation for the builders as well as the buyers Sanyam Dudeja, COO Punjab for TDI group said, “We are able to keep the prices competitive as the cost of construction as well as the time taken to complete these projects is less than that for building a high rise where a large number of clearances like fire safety, parking, provision for lifts etc have to be catered for before starting the construction and all this increases the cost factor”. “As independent floors are smaller projects volume wise, so at a time the developer has to build say less than 500 units so construction and sale is also faster. Plus it is a good investment in any case”, adds Dudeja.
Projects and prices Independent floors have emerged as the buyers’ favourite in integrated city/township projects along the Kharar and Landran-Banur roads as well as in the Mullanpur area and in the Pinjore-Kalka Urban Complex. In most of these ‘mini cities’ the builders are coming up with more than one such projects. While the TDI group already has handed over possession of 150 units in My Floors and 240 units in Tuscan Residency will be ready in another three to four months, Ansal API already has three projects —Luxury Floors, Exclusive Floors and Happy Homes — in its Golf Links-I in Sector 114, on Kharar-Landran road. Gillco City, Acme Floors, Premium Acres, in Mohali also have these floors on offer. While in this area of Mohali there is ample choice even for the salaried class, in Panchkula and Mullanpur, the independent floors come wrapped in an aura of luxury. While DLF, had offered over 1,900 floors in its DLF Valley in Pinjore Kalka Urban Complex, Sector 3, the price band is steep at around Rs 5,100 per sq ft making an 1850 sq ft floor cost around Rs 94 lakh. But the high prices are not a dampner for the demand for floors as Rakesh Kerwell, Director, North, DLF says, “In Mullanpur DLF had recently offered independent floors in its Hyde Park township and the 200 units each with a ticket price of around Rs 78 lakh were booked in a matter of days”. Omaxe, the other major player in Mullanpur also has over 1,000 floors in its kitty in three projects — Ambrosia, Cassia and Silver Birch — in its 700-acre Omaxe New Chandigarh Project. The price range is between Rs 2200 to Rs 3800 per sq ft. Though three-bedroom is the ideal size, independent floors in the affordable range are also available in two bedroom option for smaller families. With no hassle of paying society and parking charges and more independence and quality life, independent floors is a trend that is going to keep the realty scene abuzz in the tricity for a long time.
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Mumbai, Delhi slip on realty rankings Uncertainties prevailing in the real estate market for the past few years have resulted in the country no longer being an attractive investment destination for international investors, says a recent survey. Bangalore, Mumbai and Delhi, which are the top three realty markets in the country, have sharply slipped to 19th, 20th and 21st positions, respectively in the list of 22 investment destinations in the Asia Pacific region, the survey ‘Emerging trends in real estate 2013’ by the Urban Land Institute and PricewaterhouseCoopers (PwC) said. In 2012, these three cities were placed at the 10th, 15th and 12th position, respectively, in this study. “The uncertainties in the real estate market are holding back international investors from investing in the country as they were doing in the last few years. Given the current scenario, where there is little or no clarity on policies, foreign investors will continue to adopt a cautious approach,” PwC India executive director Gautam Mehra told reproters while releasing the report earlier this week. According to the survey, Bangalore is perceived to be a mature market and has demonstrated fairly stable prices and reasonable absorption trends. However, the report notes that the Southern metro’s over-reliance on the sluggish global IT industry translates into low growth potential in the medium term. The financial capital Mumbai is plagued with over-supply across asset classes, resulting in record levels of vacancy and stagnant yields, it says. The report, however, has cast a positive light on Delhi and the surrounding NCR area in view of the expected master development plans for Delhi, Gurgaon and Noida, indicating a flight of capital from the Western and Southern regions to the North in the medium-term. However, the report paints a rosy picture going forward. It says despite various issues plaguing the sector, there is hope ahead especially after the recent decision to permit foreign investment in multi-brand retail, Mehra said. “The favourable demographics and inherent but latent demand continue to be redeeming factors. Several micro-markets continue to provide suitable investment opportunities for investors and end-users alike,” he said, adding the need of the hour is to deliver focused political and economic reforms. “While the domestic realty sector may currently be grappling with certain socio-political and economic issues, particularly rising inflation and interest rates, uncertainty on fiscal policies, and subdued interest from opportunistic investors, there appears to be light on the horizon,” he says. From a regulatory standpoint, the introduction of the alternative investment fund (AIF) regime seeks to streamline and regulate the myriad of investment schemes, in a bid to boost investor confidence, he says. “One area that is yet to be developed is the real estate investment trust (REIT) regulation, which can provide an additional exit route for investors and enable retail money to be channelised into the sector through a regulated network,” Mehra concludes. —
Agencies
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ECB boost for low cost housing The Reserve Bank has allowed real estate developers and housing finance companies to raise up to $ 1 billion through external commercial borrowings (ECBs) in the current fiscal to promote low cost housing projects.
“It has been decided to allow ECB for low cost affordable housing projects as a permissible end-use, under the approval route. ECB can be availed of by developers/builders,” the RBI said in a circular. Besides developers, the central bank said housing finance companies (HFCs)/National Housing Bank (NHB) can also raise ECBs for financing prospective owners of low cost, affordable housing units. Slum rehabilitation projects will also be eligible for raising ECBs to fund affordable housing projects. ECBs are considered attractive as cost of raising the loan overseas is lower than that of domestic borrowings. Besides, they provide an additional avenue to access large amounts of funds from global financial markets. As per the guidelines, developers/builders with a minimum track record of five years in undertaking residential project will be eligible to raise ECBs. With regard to HFCs, the circular said that only companies with a minimum paid up capital of Rs 50 crore and minimum net owned fund of Rs 300 crore would be eligible to raise ECBs. It further said the maximum loan amount for individual buyers should be capped at Rs 25 lakh subject to the condition that the cost of the individual housing unit would not be more than Rs 30 lakh. On the limit of ECB for promoting low cost affordable projects, RBI said it would be $ 1 billion for 2012-13 and would be reviewed annually. The initiative follows the announcement made by the government to promote low cost affordable housing in the Budget for 2012-13, it added. The decision to permit developers and HFCs to raise ECBs was taken by the High Level Committee on External Commercial Borrowings in August to reduce the shortage of housing for low income groups in major cities and towns. The Confederation of Real Estate Developers' Association of India, an apex body of the organised real estate developers, had estimated the funding gap in housing sector at around $ 70 billion in the next five years. — PTI
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Residential rentals in the Delhi-NCR region have moved up by 25 per cent in the last two years. A study by 99acres.com, has showed that all localities in the Delhi-NCR region have witnessed rental values appreciate on an by over 10 per cent on an annual basis.
Commenting on the same Vineet Singh, Business Head, 99acres.com said, “Every year residential rentals in Delhi/NCR have seen about a 10-15% per cent jump. This is largely due to Delhi being a highly supply constrained market where the demand for dwelling unit outstrips the supply by a huge margin The slow new project market and delayed construction of ongoing projects especially in the NCR region may lead to rentals continuing to escalate over the next couple of years. Rentals in Noida will increase at a rate of 10-15% yearly, however Gurgaon will see about 15% to 25% increase in the coming months. This trend will continue in coming years as well because there are with very few projects in a completion stage in Gurgaon, while in Noida there is huge inventory in pipeline to be delivered over the next few years.” A look at the rental prices of a 3BHK house in key localities of Delhi shows that the residential areas of Kalkaji in South Delhi and Paschim Vihar in West Delhi witnessed the maximum appreciation.
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decor trends Gone are the days when kitchen was a cramped up space where women had to bend or stand on tip toe to reach for a utensil or a jar. Modular kitchens are redefining the way kitchen looks by unifying the three essential factors viz optimum utilisation of space, ensuring ease of cooking and enhancing the design and aesthetic value. Kitchen is no longer a domain that is frequented by the cook or the lady of the house. It is slowly transforming into a place where a family sits comfortably for breakfast or a cup of coffee. There is no jostling for space or coughing your lungs out due to the fumes emanating from the stove. A kitchen to live in is a phrase that is soon turning into a reality with innovative designs and technology to lure the clued-up customers. Modular kitchen is now poised to usher in modern kitchen that personifies style, elegance and comfort cooking.
What’s new in kitchens? When you ask this question, you are not actually referring to what is cooking in kitchen today. Cooking anyway has become an enjoyable experience with the advent of modular kitchens. In today's times it is observed that customers have a penchant for seeking modular kitchens that augment their style and is a perfect combination of design and technology. Some of the emerging trends in modular kitchen designs are: Interesting designs Welcome to handleless kitchens! In these the unique hollowed profile of the door is laid out horizontally for base units and vertically for columns making for easy handle-free opening. Surfaces Countertops and shutters in ceramic base are the latest trend. These are perfectly scratch proof. So no matter you scratch it with knife, pour hot tea or any chemical it is not going to affect your kitchen. Doors in glazed porcelain are practical, valuable and recyclable, designed to be indestructible. Shapes While kitchens in modern category are already coming in rounded forms curved kitchens in solid wood, too, are attracting buyers. Wine chillers A connoisseur of wine will value this idea. Wine refrigeration units maintain idyllic temperatures in the 45-60°F temperature range. These units are specifically designed to keep vibration to a minimum, while holding the wine sideways in a cool,
LED lights You no longer need to strain your eyes or flash a torch light into a shelf to try to find items of your choice. Luminous shelves come with built in LED lights that can be turned on or off by pressing the activator button. Chimneys A chimney is no longer an unattractive protruding contraption that mars the beauty of a modular kitchen. The new-age chimneys are ductless and come with special filter technology. This is the reason these chimneys can be hanged and resembles like a chandelier and apt for someone going for open kitchen option. Other than hanging chimneys these days one can go for chimneys mounted on a wall, roof or even on the floor in accordance with the kitchen design. Veggie wash These days people prefer to wash vegetables and soiled plates in two different places. A novel idea is to provide a smaller bowl which can be mounted on separate island or anywhere else so that it maintains working triangle. Kitchen is becoming a popular style statement and when conceptualising a kitchen, sky can be the limit. Since the past few years, the concept of modular kitchens has become well accepted in India and almost 80 per cent of new houses today opt for modular kitchen. With reputed modular kitchen manufacturers offering a complete range of material, style, design, accessories and combinations for their customers, it will not be a hyperbole to say that modular kitchen units convert the kitchen into a place to live in!. — With inputs from Leena Agarwal, Design Head of Cucine Lube India
Touch and behold! Another path-breaking design idea that will soon take the modular kitchen world by storm is the bluemotion system that works on the touch mechanism. While you can automatically open drawers and doors with the slightest touch, closing them is smooth and quiet. Flap doors on the other hand are easy to open and this allows you to set where you want to stop them. No matter how hard you push the cabinet door or drawers, this mechanism simply doesn't allow it to bang. Needless to say, it ensures gentle and silent closing of cabinet doors and drawers.
Discover the joy of cooking
in small kitchens too
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The ornamental edge
C.S Bewli ... There are many varieties of hybrid ornamental kale which have been developed from edible kale. They bear loose and curly leaves with wrinkled edges that come in brilliant shades of white, pink, red, blue or violet. The leaves form a tight rosette rather than a head and are connected to short stems. Ornamental cabbage forms a head similar to that of edible cabbage with broad smooth leaves and wavy edges.
Propagation is usually through seeds, but when fresh seeds are taken, the success of germination is more. Both ornamental kale and cabbage have similar cultural habits. Kales are usually not considered edible as they are known to have a bitter taste; however, some people use these as garnishing and as a decorative lining for serving dishes due to their unique appeal. Peacock, Nagoya, kamome species of ornamental kale and Osaka species of ornamental cabbage do very well in the region. It normally takes about three months' time for the kale to bloom fully; one can have kale throughout winter by sowing seeds at different times. Seeds sown in October will give full fledged kales in December.
To develop kale from seeds These plants are resistant to most of the diseases and are rarely affected by pests; the main damaging pests are caterpillars; these can be handpicked and sprayed fortnightly with a mixture of 2 ml each of malathion and rogor fortnightly. — The writer is the President of National Cactus and Succulent society of India
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Saving tax on multiple deals
S. C. Vasudeva ... Q.I had purchased a residential house in Amritsar for
Rs 38,000 in September, 1980 and had paid Rs 14,560 on Registration charges, dalali and other miscelleanous expenses (though I have no proof of this expenditure). Later on in 1981 I constructed the upper portion of this residential house and according to the architect's report I spent
Rs 13,300 (making the total cost of the house Rs 56,860). I spent another Rs
30,000 on the renovation and repair work of this house between 1981 and 2012 (for which I have no receipts/evidence). Kindly clarify the following points:
A. Your queries are replied hereunder: In case the house is purchased jointly i.e. in your and your wife's names, you can save the tax leviable on capital gain provided capital gain arising on sale of residential house in respect of the residential house at Amritsar is utilised towards your share in the new house. Your wife will have to utilise the amount of net consideration for purchasing her share for the new residential house. In case your son also becomes one of the co-owners to the extent of 1/3rd share in the house, the exemption would be allowable to each one of you to the extent of share in the new residential house. Can a relinquishment deed be withdrawn? Q. Kindly advise me on the following points:
The relinquishment deed can be withdrawn in case the same has not been given effect to. A revocation deed may have to be prepared for withdrawal of such a relinquishment deed.
Tax liability of senior citizen Q. I am a senior citizen and am drawing a pension of Rs 52,000 (per year). I sold a plot for Rs 3,85,000 in April 2012, which my late husband had purchased for Rs 44,000 in 1995. I got 2/3rd share of this plot amounting to Rs 2,56,000. My queries are as under:
A. Your queries are replied hereunder: Does a transfer of power of attorney attract capital gains? Q. Can you please clarify the following:
—
R .a. Singh
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vaastu wisdom
Q. Could you kindly prescribe as per Vaastu which colour of marble flooring is suitable and where? — subhash gupta
By knowing the compass directions and relevant sectors in your plot, you can adapt a blend of design and aesthetics by choosing appropriate flooring material. Q. Is there any significance of fixing replicas of Swastika, Om, Ganesha, Ek Onkar or any religious sign on the entrance? — pritam singh
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Keys handed over
He said that including these projects, the company has four projects in Chandigarh and four housing projects are coming up in Punjab in Ludhiana, Pathankot, Bathinda and Malerkotla. Phase II of Godrej E-City in Bengaluru Godrej Properties Ltd. (GPL), the real estate development arm of the Godrej Group, recently announced the launch of Phase II of Godrej E-City, its residential project in Electronic City, Bengaluru. Phase II will consist of two five-storey buildings with total saleable area of approximately 2 lakh sq. ft. Customers can choose from 2, 2.5 and 3 BHK apartments, ranging from 981 sq. ft. to 1,575 sq. ft. at prices starting from about Rs 42 lakhs. The entire development is expected to have approximately 800 apartments with about 1 million sq. ft. of space. Spread over approximately 15 acres, this project is planned to be launched in three phases. Godrej E-City will offer various amenities including a modern clubhouse, a well-equipped gymnasium, swimming pools, a health club, a conference hall, and a convenience store. Sports facilities such as an indoor squash court, a badminton court, a children's play area and a jogging track will be provided besides indoor game facilities like
table tennis and snooker.
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Gone are the days when kitchen was a cramped up space where women had to bend or stand on tip toe to reach for a utensil or a jar. Modular kitchens are redefining the way kitchen looks by unifying the three essential factors viz optimum utilisation of space, ensuring ease of cooking and enhancing the design and aesthetic value. Kitchen is no longer a domain that is frequented by the cook or the lady of the house.
. It is slowly transforming into a place where a family sits comfortably for breakfast or a cup of coffee.
There are many varieties of hybrid ornamental kale which have been developed from edible kale. They bear loose and curly leaves with wrinkled edges that come in brilliant shades of white, pink, red, blue or violet.
The leaves form a tight rosette rather than a head and are connected to short stems. Ornamental cabbage forms a head similar to that of edible cabbage with broad smooth leaves and wavy edges.
The funds raised through ECBs could be used either for developing low cost housing projects or for providing loans up to Rs 25 lakh to individuals for buying units with a price tag of Rs 30 lakh or less.
dark environment.
A good storage space in the form of a row of cabinets or a set of drawers can be the cynosure of all eyes provided they are ergonomically designed and obey your command! If a cabinet door refuses to obey your order, you may invariably use force to open it thereby loosening the screws on the hinges. State-of-the-art motorised mechanism available now has raised the comfort element to a new level. With this mechanism, the folding doors on the wall unit can be opened by applying just a light pressure on the front panel with your hand or an elbow. Even the large front panels open upwards with a complete lack of gravity, thus giving an optimum view and access to the cabinet interior. 
Space is a luxury that is not omnipresent in every Indian kitchen. The corners are often left unutilised making these a dumping ground of unused items. This not only spoils the ambience of the kitchen but may also prove to be unhygienic in the long run. A smart design idea can convert this space into a corner floor unit with an extended steel basket built into door. This unit comes with a pull-out chopping board with a solid wood top and the extended peninsula that can be used as a breakfast counter, if required. This design idea typifies comfort without compromising on style and elegance.
Ornamental kale besides being a popular winter annual gives a different and a unique texture to the garden with an instant appeal. It is grown for its colourful foliage and not for its flavour and is a great alternative to showy flowers. They are care-free and easy to grow plants that do well in beds and also in pots of about 30 cm. They normally grow about 30-35 cm across and give their best when placed in groups; one large ornamental kale placed at a suitable place can be a centre of attraction of any garden to create an eye- catching splash of bold hues throughout the growing season.
What will be the capital gain on this, as I sold this residential house in October, 2012 for
Rs 12 lakh? 
A.
In case of joint family property the partition can always be in unequal shares and therefore while executing a deed of partition it is possible to reduce the share of any of the co-parceners who are entitled to seek a partition of the joint Hindu family property. There should not be any need for any relinquishment deed for such cases. However, in case a person is interested in executing a deed for relinquishing his share in the joint family property, he can do so by executing a relinquishment deed. Such a deed can also be executed for relinquishing a share in father’s self-acquired property. 
A. Your queries are replied hereunder: 
A.Flooring in a building not only breathes life in terms of décor and aesthetics but also defines how the energy flows there. Flooring plays a significant role in beautifying the look of the house. Among the natural segment flooring we have marble, granite and slate. Natural materials like wood tend to carry the chi more easily. According to Vaastu the use of natural materials is preferred for flooring so materials like mosaic, ceramic tiles and marble are acceptable. By using Vaastu principles we can harmonise the sectors of the home based on the five elements by choosing the appropriate material and colour of flooring.
A.Holy symbols have unique positive energy which we derive in religious places also and they do shower bliss on the residents. Swastika and Om represent the flow of auspicious energy and create an opportunity for the proper development of the mind, body and soul, and in turn generate positive thoughts for all round development. If you are fixing any idol or picture of Ganesha on the entrance, then you must fix it in a way that the gaze of the deity is towards the house. If any statue in marble has been fixed on the front wall, then a similar and identical piece should be fixed on the back.
Emerging India Housing Corporation marked the completion of its project in Sector 126,
Mohali, by handing over the keys to residential units to home owners.The project is located on the
Chandigarh-Kharar road. The Managing Director of company Gurpreet Singh Sidhu handed over the keys to the owners. Giving details of the group's other projects Sidhu said the company will be coming up with Emerging Heights 2 project in
Panchkula. This project would be completed by Baisakhi next year, while the third project coming up near Sante Majra would be completed by March 2014.