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Real View: Himachal Pradesh-II
The flipside of boom
A large number of high-rise constructions — commercial as well as residential — along the NH-22 and various other roads in the Solan district give an impression of a booming realty scene and a strong economy in the area. But the reality is just the opposite. Serene no more Large scale construction activity continues in Solan area despite a dearth of buyers. Tribune photo: Pradeep Tiwari
Rental agreement
Launch pad
Ground
Realty
Decor
trends
Space sense
At home with
FENG SHUI
NHB hopes for more easing in ECB norms for housing fin cos
Realty bites
Tax tips
Loan zone
Vaastu wisdom
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Real View: Himachal Pradesh-II A large number of high-rise constructions — commercial as well as residential — along the NH-22 and various other roads in the Solan district give an impression of a booming realty scene and a strong economy in the area. But the reality is just the opposite.
Even though a large number of residential and commercial projects have come up here, these have not led to a corresponding increase in the value of properties. The property market has remained dull by and large as investors are wary of parking their money in the hill state because of confusion over the apartment Act. Along with this the ecological impact factor also plays an important role in the rise of prices here. On an average 25 to 30 per cent decline has been witnessed in the real estate markets in the area in the past few years Himachal might have drawn scores of realtors after enactment of the HP Apartment Act but the unplanned, unscientific and reckless constructions undertaken by the builders are not only putting pressure on the scarce natural resources but are also affecting the prices of property here, said a local property dealer. “Though the scenic environs lure buyers from plains to have a second home in the hills, the lack of basic facilities like water, power and roads are making them think twice before investing here and as a result very few transactions have taken place in the past year or so”, says S.K. Batta, a Solan-based property consultant. Interestingly, the number of unoccupied houses in the district has increased from 15.3 per cent in 2001 to 22.3 per cent in 2011 as maximum permissions to outsiders to buy land under Section 118 were granted in Solan in the last couple of years. This clearly indicates that outsiders are not staying in majority of these houses.
Tipping the balance Large scale construction along the NH-22 has tipped the ecological balance and is proving to be a drain on the civic amenities like water and power. This crass commercialisation carried out in utter disregard to the capacity of the hills has started reflecting on the water and power availability in the area. The construction of multi-storeyed buildings on steep slopes and nullahs have increased the threat of hazards like caving in of foundations and landslides. Lacking requisite infrastructure support like proper approach roads, ventilation and parking, this reckless commercialisation is a sureshot recipe for an environmental disaster. Several cases of buildings having collapsed due to improper constructions have surfaced in the past few years and landslides are a common occurrence on the roads where reckless digging has taken
place.
Need for proper policy The state government has been contemplating to do away with the controversial Himachal Pradesh Apartment and Property Regulation Act, 2005, by integrating it with the Town and Country Planning (TCP) Act as it had failed to regulate commercial constructions. Maximum permissions to the outsiders to buy land in the state were given after the enactment of this Act. There is a blind race to possess a summer cottage or a flat
here by the outsiders merely as an additional asset and in the process reckless flattening of fragile hill slopes is causing irreparable damage to the ecology. Since the area falls under the extremely sensitive high intensity seismic zone IV and V it is extremely vulnerable from the point of view of earthquake thus necessitating the need for undertaking preventive measures while undertaking construction. Though the Town and Country Planning Department has restricted the number of storeys to three while permitting an additional one for parking, its violation is evident all along the highway and various roads like Khil-Ka-Mor, Kumarhatti-Nahan, Dharampur-Kasauli, Kasauli-Jagjitnagar, etc., The builders have taken advantage of the policy of regularising illegal constructions which had been rolled out by successive governments in the state to indulge in this practice. Strict regulation of norms and denying fresh permissions can help save further damage to the hills. Flawed approach
In order to ensure preservation of an area, constructions have to be controlled. A majority of the builders are from the plains and as such their ideas are in conflict with the principles of hill architecture. This is manifested not only in the appearance of the structures but also in the use of such materials as reinforced concrete. The intricacies of hill architecture have been vastly overlooked by the builders who have constructed multi-storey concrete structures. Water woes
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Rental
agreement
As per the Registration Act 1908, all rent agreements for tenure of one year and above have to be legally registered. Being a legally approved document a registered agreement holds higher evidential value compared to a non-registered one. Usually in order to avoid the payment of the stamp duty and registration charges most landlords go for a lease agreement of 11 months which can be renewed on termination. At the same time in order to avoid paying tax on the rental income most landlords try and avoid signing a formal agreement. But in order to safeguard his rights a tenant should never take a house on rent without signing a formal rental agreement. For a tenant it's also a legal document which acts as a proof for tax benefits along with being a valid address proof when applying for a passport or PAN card. Also, a lot of times landlords take the tenants for a ride and make agreements favouring them. Often the clauses are dressed up in complicated legal jargon. Landlords also use readymade agreements downloaded from the Internet or purchased from a vendor outside the court. A tenant not vacating the property on the termination of the lease tenure is not an uncommon scenario. In such a scenario a landlord either goes to the court which may take years for resolution or he resorts to other alternatives like harassment.
The essential elements of a lease are:
For general understanding a ‘lessor’ is the person who transfers the property or in most cases the owner or the landlord and 'lessee' is the person who accepts the transfer of property or in most cases the tenant. Security deposit is usually equivalent to rent for two or three months. With increasing incidents of tenants hampering the property now landlords have started charging more amount as security deposit. But while demanding high deposits landlords are usually ready to negotiate. A landlord not returning the deposit or giving only a part of it is also a common trend. While signing the agreement a proper receipt should be demanded for the same along with inclusion in the signed agreement. A rental agreement is a significant document which safeguards the interests of both the landlord and the tenant. Therefore, it should be signed only after thorough study and analysis of the impact of each
clause.
Essential checkpoints
— The writer is CEO, Indiproperty.com.
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Launch pad
Godrej project in Ahmedabad Godrej Properties Ltd. (GPL) has launched an affordable housing scheme in their township project Godrej Garden City (GGC) in Ahmedabad. Five new towers, each ground plus 12-storey tall, will offer affordable 1 BHK apartments each measuring 600 sq. ft. at prices starting from Rs 16.5 lakh. Each tower will be equipped with 2 lifts and all apartments are open from two sides with no two apartments overlooking each other. GGC is located just off SG Highway in the heart of Ahmedabad. The project is within Ahmedabad Municipal Corporation (AMC) limits.
‘DAMAC Towers by Paramount’ in India Middle East’s largest luxury private developer, DAMAC Properties, is launching phase two of $1 billion luxury hotel and serviced residences ‘DAMAC Towers by Paramount’to Indian investors, following a sell-out event in Dubai. More than 200 units were sold in just a few hours, making it one of the most sought-after projects in the region. The project comprises 540 key Paramount Hotel and Residences and more than 1,000 units of DAMAC Maison – Paramount co-branded serviced hotel residences. The one, two and three bedroom serviced hotel residences will be managed by DAMAC Maison, the hospitality division of DAMAC
Properties. — Based on information provided
by the developers
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Ground
Realty There were times when wooden drawers were fabricated by the carpenter and slid into the slots made for these in the tables or cupboards. Often, such drawers posed problems in their smooth pulling out or pushing in. Some margin had to be kept for their movement and a little skewed nudge made these get stuck. The advent of telescopic channels has made this job much easier. However, certain aspects need to be kept in view while selecting telescopic channels. Here, have a look:
Material:
Also called ball-bearing slides, the telescopic channels are available in mild steel and stainless steel. Stainless steel channels are very costly. Prefer to choose zinc-coated mild steel channels as these pose no problem at all, allow smooth running and are much cheaper. Moreover, there is no chance moisture interfering with their smooth operation. MS channels are either painted or zinc coated to look like stainless steel channels. However, for kitchen trolleys, it is better to go in for stainless steel channels. Sizes:
Telescopic channels are supplied in various sizes. Here, size means the depth of the channel along the depth of the drawers. Available sizes are 10", 12", 14", 16", 18", 20", 22", 24", 30" and 36" inches. The sizes should be chosen carefully to suit the depth of drawers. Normally cupboard drawers need 20" size channels. The under counter drawers in kitchen also need 20" size channels. Drawers provided in the dressing table require channels of lesser depth. Ask the carpenter to give sizes carefully as channel depth has to be less than the depth of slots for the drawers. Ratings:
Telescopic channels are rated according to their load bearing capacity. The ones able to carry up to 30 kg load are called light-duty channels. Those carrying 40 to 45 kg are called medium-duty channels and the channels that can bear more than 45 kg are called heavy-duty channels. The load carrying capacity can be as high as 400 kg. Always remember that wider drawers should have higher rating channels. Mechanism:
Each telescopic channel further has a pair
of channels, the smaller channel running inside the bigger channel. The smaller size channel is fixed on the drawer and the bigger size channel is fixed on the wall of the slot. All telescopic channels have a locking system at the inner end. The smaller size channel gets locked when the drawers are fully pressed in. When the channel gets locked, a bit of extra pull is required to release the lock and thereafter, the run is smooth. Travel length:
Telescopic channels can have different travel lengths. Those channels that allow a drawer to open partially, say up to 75 per cent of the total slide length, are called partial-extension channels. Those allowing 100 per cent opening of the drawer are called full-extension slides. There are channels available that allow a drawer to extend beyond the length of the slide. Such telescopic channels or slides are called over extension channels. One may, therefore, choose the channels of travel length of his choice. Cost:
Telescopic channels are sold either on per inch cost basis or on size basis. On inquiring, normally, cost of 20 inch standard size channel is quoted. One should keep in mind that the quoted rate is for a pair of channels and not for a single piece. The reason for this is that channels are always used in pairs only. There is a large variation in the rates. Heavy discounts are provided on the MRP. A 20" size, non-hydraulic channel pair normally costs Rs 290 to Rs 300. Performance:
Each channel in the pair has a number of ball bearings provided in it. These ball bearings play a major role in the smooth operation of the channel. The performance of channel is directly proportional to the number of balls. The number of balls can be easily counted by the buyer. Look for channels having ball bearings with more than 30 balls in each channel of the pair. Screws for channels:
The normal tendency of the buyer is to choose star headed screws for all
the fittings to be provided in the house. However, for fixing telescopic channels, don’t choose star head screws. Their manufacturing is such that these don’t sit fully and often interfere with the movement of the inner sliding channel. Choose normal head screws. These sit in properly. Let the maximum size of screws be ¾ inch only as longer screws will cover the full thickness of 19 mm board ply and protrude on the other
end. Feather touch: The only purpose of spending money on purchasing telescopic channels is to make the trolleys and drawers travel ‘smooth like water’ and without any holds or interruptions. A small pull should make the drawer come out running and a small push should seat it in position. Carpenter’s skill in fixing the channels in perfectly horizontal position plays a significant role in the smooth running of drawers. Therefore, don't get satisfied by sweet talk and check each drawer and trolley yourself for smooth running. Once done perfectly, the provision shall delight you every time you open a drawer or pull out a trolley in the kitchen.
This column is published fortnightly
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Decor
trends The contemporary chic:
Anything contemporary has a different level of sophistication attached when it comes to pieces of décor. In this style the canopy beds too stand apart. They accomplish strong styles with unique subtleness and panache. The look lays ample stress on posts and brings forth well-finished chrome, metallic or wooden posts which are made visible with an act of deliberation. The fabric is not the main focus and can be left out completely and even if it is used it comprises light fabrics which are done in waves. Light colours with Suzani prints make a good combination. Even stripes work well but the colours should be picked from subdued palettes and light-sheer fabrics. The bed gives a clean-lined canopy and state-of-the-art bed posts. Cost-effective style:
Canopy beds is a luxury that can be made affordable by little customisation and a lot of thinking. It doesn't always call for a massive renovation to bring one into your dream house. A little forethought and you will feel that the charm is very much within your reach. To begin with one needs to settle in mind for the type of canopy one wants to install. A full canopy will demand a four-poster bed so if you don't want to replace your present bed a half or an overhead canopy is an equally enthralling idea. The U-shaped mountings are installed over the bed-head or swing-arms on either side, or a single hoop or rod attached to the ceiling. The fabric is always light in colour and texture and is left hanging at the fringes. Mosaic patterns and diffused prints weave a perfect picture and blend with all kinds of décor. One can make use of broad frills along the bed linen to completely escort the bed.
The princess Canopy beds bring magical verve to your house and promises to make your spirit soar when the onlookers are 'oohing' at the sight of the majestic charm created by them. They are available in different styles and it is a good idea to pick the one which will suit the décor and fits in the rhythm of your house. The rugged boy The stately appeal
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Space sense
Two areas which seek more attention are bedroom and living room. Well, creating a perfect ambience in a small bedroom can be a tricky thing to do. Clutter will invariably be a problem in even the best kept rooms and there will be not much room for solely ornamental items and objects. This can make the room look small, claustrophobic or cramped. However, with some decorating and arranging tips it is possible to make a small room appear more open and inviting.
Layer effect There are many ways through which one can create an illusion of space. The first way to provide such an illusion is through “layering”. It is done by arranging solid colours in front of each other in a contrasting fashion. This can be achieved, for example, by painting the walls in your room a specific colour and have the furniture in a different but in an equally solid colour. The trick here works particularly well with bright or vivid colours as it separates items from each other and removes clutter. However, one should use strong and vivid colours of different shades only as it does not allow things to blend with each other, thereby creating an illusion of gap between them.
Colour code Secondly, one can paint the dividing line and blocks on walls in different
colours. This makes the room appear spacious. Dense and overcomplicated wallpapers also create clutter in a room and should be avoided. Subtle break points, such as subtly contrasting white and cream alternating squares, can add noticeable depth to a room even if such depths do not actually physically exist. Human eye has a tendency to create a 3D illusion when they see a set of contrasting colours put one by one. Therefore, when similar wallpaper is placed on a comparatively smaller room human eye apparently perceives a bigger space around. This highlights the importance of the bedroom's walls being the most important part of the room when it comes to creating space.
Subtle touch On the other hand, space can also be created by removing unwanted items. Things which cover much space and have comparatively less utility can be shifted to somewhere else. For example, a huge sofa can be replaced with cane furniture which is smaller, lighter and thinner. This may apply to many things such as photo frames, flower vases etc. Use of soft textures, fittings and furniture also helps in increasing the space in a room, especially in bedrooms. Instead of a large cornered bed, one can use a low-height soft-edged bed with fitted sheets and quilt. Use of soft textures like silk or satin can also make a huge difference. — The writer is an architect working for Emaar MGF
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At
home with FENG SHUI The Feng Shui of the main bedroom has a significant effect on the harmony of the home, on its well being, and on the finances of the household. There are several aspects of bedroom Feng Shui. Shape of the room is important, as is the positioning of furniture and decorative objects in the bedroom. The layout, direction in which one sleeps are the other important factors in creating the right balance of Yin and Yang energies. A good balance of these two cosmic forces is different for bedrooms than for other rooms. In bedrooms the Yin components, which suggest calmness and quite, should ideally prevail because bedroom is a place of rest, recuperation, and relaxation. Basic guidelines
— The writer is a Panchkula-based Feng Shui and Vaastu consultant and founder of The Artizens
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NHB hopes for more easing in ECB norms for housing fin cos The National Housing Bank is looking forward to relaxations in external commercial borrowing norms for housing finance companies (HFCs) to enable larger number of players to tap the route.
“We are expecting to modify some of the features (with regard to ECBs), which are a little restrictive now,” NHB Chairman and Managing Director R V Verma said. This is being considered by RBI and the government to allow more players, he added. “The RBI has already sent its recommendations to the government which are being considered on share capital and networth of HFCs,” Verma said. The existing norms with regard to Rs 50 crore of paid-up capital and Rs 300 crore of net-owned funds (NOFs) are being examined to allow more players in the ECB fold, he said. The RBI had allowed real estate developers, developing low-cost housing, and housing finance companies to raise up to $ 1 billion through ECBs last fiscal. Verma also pointed out that the ECB limit for FY'14 would be determined after exhausting the limit for FY'13. The NHB has also sought some clarifications from the Finance Ministry regarding tax exemption in securitisation deals. “We are awaiting some clarifications from the Finance Ministry with regard to securitisation,” Verma said, adding that the housing finance regulator will go ahead with the proposed Rs 200-crore securitisation deals after the clarification. The FY14 Budget has provisions to exempt securitisation trusts from taxation. On loan disbursements, Verma said the NHB plans to increase loan growth by 20 per cent next fiscal. (NHB follows July-June financial year). “We plan 20 per cent growth in loan disbursement to Rs 20,000-21,000 crore in the next fiscal from Rs 17,000 crore target of this financial year,” he said. Verma also pointed out that the proposed Urban Housing Fund would start in one month. This year’s Budget has provisions for setting up an Urban Housing Fund to support affordable housing in urban areas.
— PTI
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Realty bites Realty firm ATS Infrastructure will be investing approximately Rs 600 crore over the next three years to develop a group housing project in Punjab.
The project — ATS Lifestyle — is spread over 22 acre and is part of company's 300-acres integrated township situated at Dera Bassi near Chandigarh. “We will develop about 1,000 apartments in this project,” ATS Group Managing Director Getamber Anand said. The project would be developed in two phases, he added. “The total project cost including land cost would be about Rs 600 crore,” Anand said. The investment would be funded through bank debts and advances from customers. The company is selling the first phase at about Rs 3,500 per sq ft. The size of the housing units ranges from 1,900 to 2,950 sq ft. “The construction of the first phase comprising about 500 apartments is undergoing and we expect it to get completed by end of the next year,” Anand said. The company has sold about 60 per cent of the first phase, he added. Anand said the company would soon be launching the second phase, which would also have 500
units, at higher rate. The construction of second phase would be completed by 2016. Besides this township, ATS Infrastructure is developing real estate projects in Gurgaon, Ghaziabad and Noida. The company has so far delivered about 5,000 apartments in the NCR and is constructing 2,500 apartments.
— PTI
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Tax tips Q. I have read your reply to a query ‘Clarification of ownership issue’ in February 16, 2013, issue. I also have a similar question. My father and mother transferred their share in a showroom in my name on May 21, 2010 vide notification ‘ ENDST 4159-H111(5)-2007/11927 (d/d 14-6-2007) to heirs in class-1 and entry/ Category of class 11 as per schedule attached to Hindu Succession Act 1956’. My brother and his wife have gifted their share in the same property to my wife on June 8, 2010.
My query is that will the period for which the property was held by my father and mother in my case, and similarly the period for which the property was held by my brother and sister-in-law in case of my wife, count towards calculating the three-year period for calculating LTCG. The said property had been held by my father, mother, brother and sister-in-law since March 1992.
— I. S. Ghuman
A. The period of holding by your father and mother as well as by your brother and his wife would be considered for the purposes of determining whether it is a long-term asset by calculating the period of three years in accordance with the provisions of Section 2 (42A)(b)of the Act. This Section provides that in the case of a capital asset which becomes the property of the assessee under a gift or succession, inheritance or devolution, the period for which the capital asset was held by the previous owner shall be taken into account for calculating the period of three years. Can I demand a fresh rent agreement? Q. I am living in an ancestral house as per the Will of my grandfather. My late father had constructed a house and willed it in my name in 1994. He gave this house on rent on my behalf to a retired person in 1994 without a legal rent agreement. The terms and conditions were written on a plain paper and carbon copy was signed by my late father, tenant and two witnesses. The original copy was retained by my father while the photocopy was given to the tenant. I am unable to trace the original copy of the agreement. Can photocopy be considered a valid document? Now, I want this tenant to make an agreement with me on stamp paper but the tenant has refused to do so on the plea that terms and conditions written and signed by him and my late father are being followed strictly for the last about 18 years and no any fresh agreement can be made at this stage. Can I force him to make a fresh agreement with me? As per the terms and conditions settled with my late father, the rent is increased by Rs 300 per year. I want to change this clause and make the annual increase Rs 500 instead of Rs 300. What should I do if the tenant does not agree to increase the rent in view of terms and conditions already settled with my late father?
— R. K. Gupta A. The facts in the query do not indicate whether the Will made by your father in respect of the house has been acted upon and the house has been mutated in your name and you have become the owner thereof. Presuming that the house has been mutated in your name and you have become the owner of the house, the tenant will have to enter into a new agreement with you as the old agreement with the earlier owner (i.e. your father) will not have a legal sanctity. A new agreement will have to be made from the date you became the owner of the house. The new document can contain a clause with regard to the yearly increase of rent receivable from the tenant I may add that before taking any action on the lines suggested by me, you should consult a civil lawyer as the issue involved is of civil nature and may have to be taken to the court of law. Repaying home loan through capital gains Q. My son has purchased a 3 BHK flat costing Rs 42 lakh against a home loan of Rs 30 lakh, for which possession was given to him by the developer in May, 2012. Earlier in 2007 my son had purchased 1BHK flat costing Rs 15 lakh against a home loan of Rs 12 lakh. At presently he is paying EMIs for both flats. Now he wants to sell the 1 BHK flat which shall fetch Rs 30 lakh. In addition to liquidating balance house loan amount of Rs 10 lakh for 1BHK flat, he also intends to pay back Rs 10 lakh against house loan for his 3BHK flat. Kindly advise us whether the amount of capital gain paid for payment of home loans for 1 BHK and 3 BHK flats would entitle him to tax relief, and whether such amount would be exempted from the capital gains tax.
— Col A. K Dhar
A. A person can avail exemption from the taxability of a long-term capital gain arising on the sale of a residential house in case such a long-term capital gain is utilised for the purchase or construction of a residential house within the period specified in Section 54 of the Income tax Act 1961 (The Act). Such exemption is also available in case the long-term capital gain is utilised for purchasing tax-saving bonds within six months of the date of sale of a residential house. The amount of long-term capital gain arising on the sale of one bedroom flat would not be exempted from taxability in case the amount of such capital gain is utilised for the repayment of the loans which were raised for buying one bedroom flat as well as a three bedroom flat. There is no provision in the Act which allows such exemption. Tax liability for my wife
A. The indexed cost of the house on the basis of cost inflation index for the year 1992-93 and 2012-13 works out at Rs 78,323. The amount of long-term capital gain would, therefore, be Rs 11,21,677 (12,00,000 - 78,323). Your wife can claim the benefit of exemption under Section 54 of the Income-tax Act 1961 (The Act) provided the house is owned by her and she utilises the amount of long-term capital gain for constructing first floor of such a house. The amount of tax on the long term capital gain of Rs 11,21,677 would be calculated @20.6 per cent ( 20 per cent plus education cess of 3 per cent thereon). The payable amount would be Rs 2,31,066. I may add that instead of investing the amount of long-term capital gain towards the construction of first floor on the house owned by you, your wife can save the aforesaid tax by investing the amount of capital gain in tax saving bonds which have a lock-in period of three years and carry interest @ 6 per cent p.a.
Clarification on ownership of joint property My query is that after purchase whose property will this house be i.e. of the wife or the husband? Also whether the rental income, if any, from this house will be considered wife’s income or husband's income for the purpose of income tax? Additionally if the husband purchases a house in the name of both without capital gain income, what will be the status of that house?
— Vijay A. The reply to the query published on February 16, dealt with an issue regarding the purchase of house in joint names of husband and wife in respect of which an exemption from leviability of tax on long-term capital gain was claimed. The issue with regard to the ownership of the property has to be determined with reference to the source of the funds invested in the house property. Therefore, in case the funds have been provided by the husband for purchase of property in joint names, the ownership of the property would be his. The rental income would also be assessable in the hands of the husband. The status of the property would remain same in case the property is purchased in joint names and funds have been provided by the husband. In this regard your attention is invited to the provisions of Section 64 of the Income-tax Act, 1961 (The Act), which provides that income arising from asset transferred directly or indirectly to the spouse by an individual other than for adequate consideration or in connection with an agreement to live apart, is taxable as the income of such individual. Email your queries to realestate@tribunemail.com
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Loan zone Q. What does a pre-approved home loan mean and who should take this loan? — Nitin Chopra A. If you have identified a property and decide to go in for a home loan and your loan application is rejected for some reason, then you may lose the property that you want to buy. It is therefore prudent to go in for a pre-approved home loan. It basically means that you get the home loan approved in advance. The housing finance company or the bank, as the case may be, will issue you a pre-approved loan certificate. However, there is a validity period for such a loan and usually it is approved for a period of six months. This means that you have to identify a property within a period of six months, or else the home loan stands null and void and you would lose the processing fees paid. Some of the advantages of this loan are:
Quick loan disbursal A quick loan disbursal is possible and should you be buying a ready-to-move-in property, it could be immensely helpful.
Ability to negotiate A pre-approved home loan makes you a serious buyer and improves your chances of negotiation with prospective sellers.
Charges Most banks do take a pre-approval home loan charge and refund it once you avail of the loan. It’s important to note that though you may have a home loan approved, it does not compel the bank or the housing finance company to lend. A lot would depend on the property documents that would be verified by the lender. It’s definitely advantageous to go in for a pre-approved home loan, provided you ensure that you can identify a property within a period of six months. If you are unable to do so, then you may lose the amount that you have paid as processing fees.
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Vaastu wisdom
Q. I had purchased a 14-marla plot in a PUDA-approved colony in 2011. At that time I didn't notice but found out later that a high tension wire was passing over a corner of my plot. Though this wire is very high and its huge poles are very far from my plot. Is it advisable to build a house on this plot? — Manjit Singh A. High tension wires produce magnetic as well as electric waves in the area from where they cross. These may pose health hazards in two ways. Firstly, these are always risky during storms, rains etc. Secondly, it is a Vaastu dosha because these wires emit negative Energy such plots should ideally be avoided. Q. I am pursuing MBA and our family has just shifted to a flat three months back. I have realised that I am not able to concentrate on my studies in my new room. I try to work hard but I keep getting distracted. I never had this kind of problem in our previous home and I think that there are certain Vaastu doshas in my room. Can you offer any solutions for my problem? — Meenakshi A. There is a possibility that the new place has some Vaastu defects. You should check the following points to ascertain this: Ensure that there is cross ventilation and proper sunlight in your room. Doors and windows in the southwest direction can adversely effect your concentration. So check the direction of doors and windows.
You can try the following remedies to improve the Vaastu alignment of your room:
Q. I have joined a new company as an executive but I am not getting good results despite hardwork. — Narender Singh A. Your office should make you feel energised and motivated and you can bring this positive change by keeping these points in mind:
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The Feng Shui of the main bedroom has a significant effect on the harmony of the home, on its well being, and on the finances of the household. There are several aspects of bedroom Feng Shui. Shape of the room is important, as is the positioning of furniture and decorative objects in the bedroom. The layout, direction in which one sleeps are the other important factors in creating the right balance of Yin and Yang energies. A good balance of these two cosmic forces is different for bedrooms than for other rooms. In bedrooms the Yin components, which suggest calmness and quite, should ideally prevail because bedroom is a place of rest, recuperation, and relaxation.
Q.
I have read your reply to a query ‘Clarification of ownership issue’ in February 16, 2013, issue. I also have a similar question. My father and mother transferred their share in a showroom in my name on May 21, 2010 vide notification ‘ ENDST 4159-H111(5)-2007/11927 (d/d 14-6-2007) to heirs in class-1 and entry/ Category of class 11 as per schedule attached to Hindu Succession Act 1956’. My brother and his wife have gifted their share in the same property to my wife on June 8, 2010.
Ideally as per the Nelson’s Slope Density Provisions, no construction should be allowed on slopes of more than 40 degrees and the TCP had also devised norms to check straight cutting of steep slopes. A slope of more of 45 degrees when cut becomes prone to slides. Engineers opine that when a hill slope is smoothened for construction slides tend to occur till the hill regains its original angle opine engineers.
Sustainable development in hills depends on the conservation and protection of the fragile eco-system. This includes protection of forest, bio-diversity, water resources and prevention of soil erosion.
A ‘rental agreement’ is critical in order to avoid disputes between the owner and the tenant at a later stage. It defines the duties and responsibilities of both the parties involved.
When registering a rent agreement the effective date should not be prior to the date on the stamp paper
Ansal API recen launched ‘Crescent Residences’ in Greater Noida. ‘Crescent Residences’ are a part of 2504-acre ‘Sushant Megapolis’, a Hi-Tech Township and the only one of its kind and size in the NCR. The new project will have 3BHK luxury homes that are 1,515 sq ft. in dimension. The basic sale price of these residences is Rs 2500 per sq ft.The price range of these homes start from Rs 27 lakh. The company is charging a booking amount of Rs 2 lakh per unit and is also offering 3 per cent inaugral discount to walk-in customers till March 31, 2013.
Hydraulic vs mechanical: Telescopic channels may be hydraulic or mechanical type. Hydraulic channels have a hydraulic piston provided at the inner end of the telescopic channel. When the drawer is given a gentle push, the hydraulic system gets activated and the drawer moves itself, slowly and completely in position, till it gets locked at the inner end. Watching drawers move inside on their own, and gently, is quite fanciful. However, hydraulic telescopic channels are much costlier than the mechanical channels.
Canopy beds or four-poster beds are among the ultimate luxury statements that one can put in one’s bedroom. These lend a royal appeal and romantic charm to a bedroom. Canopy bed styles have started to light the up-scale markets with a variety unseen before. These bring you a good combination of the tones of English royalty and contemporary artistry. The style check begins from the type of canopy that you fancy as some are just hung around the four-poster beds while others just add a touch of flair over the bed-head. It can stretch from simply the posts being kept nude to the use of opulent fabric. The fabric doesn't always mean lace and sheers as there can be a mix of heavy fabrics with wooden floors. The height of the canopy is also used to impact the overall appearance of a room. The style thus gets actually defined by the final appearance that one is trying to achieve. So lets take you through various appeals and the points which will help you get these.
As the name suggests, this will mark the idea of young girls who love to dream and cuddle in the coziness of their beds. It is every girl's fancy. So the fabrics play a major role. All the flair, frills and laces find a place in this décor. Floral prints, blocks, geometrical designs all can fit in a girl's nest. The idea is to keep the area full of energy with soothing pinks, beiges or light versions of green. The fabrics can be soft voiles, silk faille, iconic cottons or light sheers. Embroideries - a girl's best friend, can be resorted to lavishly as they enhance the mystic appeal and add substance to the decor. The posts can be wooden with elaborate carvings over the head.
This is the typical guy line and a clear masculine statement. Of course, the room has to have other elements to complete the look, but the bed canopy has to be picked with care. The posts of the bed should be of deep colour and shades of grey, light silver, browns make a good pick. The earthy tones add a solid effect. The use of fabric is confined to bed-backs or bedheads and strict valances, if required. It is a very airy canopy fitting to match the wandering minds that don't want to be confined and demand the feel of a sea-side cabana. The bed lines are focused and avoid intricate patterns.
This will hold good for large bedrooms that get a generous amount of sunshine. The bed is huge and has tall posts of wood with a carved finish over the edges. These can be enhanced with the use of valances done with rich fabrics. The fabric will surely hold a key position to complete the frame and the opulent brocades or faux silks is a good choice in these settings. Thick curtains are the buzzword here as the bed can be closed off while you are tucked inside leaving the rest of the room functional. The idea exactly is not merely to ensure privacy but to display a boldness in attitude and adding drama to the whole version. The pattern can be stretched to other upholstery beginning from bed linen to window drapes.
In today’s time when a square foot of area costs so much, it is important to make a maximum utilisation of the available space. A strategic use of every nook and corner has become mandatory.
Q. My wife purchased land in 1992 from HUDA for Rs 20,500 and sold it for Rs 12 lakh in 2013. We want to utilise this money to construct the first floor of the house which is in my name and had been purchased from HP housing board. Kindly advise if the money so received can be used as long-term capital gain? Is there need to transfer the house in her name or is there other way? She is a senior citizen and a housewife. In case we don’t use the money for construction then how much tax will be payable?
— Kant Ji Gupta
Q. Kindly refer to your reply to a query published in February 16,
issue (House in Wife’s Name).