REAL ESTATE

 


Withstanding quakes
‘Shaken and stirred’ in high-rises

Safety is the chief concern of those living in high-rise buildings in India Even though the tremors that rocked several parts of north India last Tuesday were mild, yet those who ‘tasted’ these in high-rise buildings were ‘shaken as well as stirred’ as questions regarding the safety of these buildings cropped up in post-quake discussions.


Scary heights: Safety is the chief concern of those living in high-rise buildings in India

Gold’s loss, realty’s gain?
The free fall of gold prices over the past few days has not only lead to positive sentiment in the market as low gold prices spell good time for the economy of the country, the sentiment in the “slow” real estate market has also got a boost in the past few days. Zar (gold) and zameen (land) have been the most coveted assets in human history and both of these are the preferred investment options. With the realty scene remaining lukewarm over the past 18 months, most investors had preferred to invest in gold as the returns there were good with the prices rising substantially.

tax tips
Get house value reassessed
Can I claim rebate on interest paid to relative?
Do I need registry before selling the flat?
Definition of ancestral property
How can I calculate my partners’ share?

loan zone
How does reverse mortgage work?
Q. I am 66 years old ans I own a house on 500 sq yd plot in Chandigarh. What is reverse mortgage loan? Can I get a reverse mortgage on my property?

Vaastu wisdom
Q. I have been advised against having a basement in our house, but because of space constraints we want to utilise the exptra space. How can we make a basement Vaatu compliant?

buyer - builder deal
Plug the loopholes in sale agreement
After all the running around you have finally made up your mind and chosen your dream home. Do you think it is the end of your worries and it’s just a matter of time and you’ll soon sign the ‘sales agreement’ to become a proud home owner? In reality post-selection procedure is more crucial than the selection procedure. Are you are wondering why and how? This is the stage where one actually has to pay for a home from his life’s savings.

1.4 lakh homes unsold in NCR
More than one-fourth of the total 5.2 lakh housing stocks being constructed in the national capital region (NCR) are unsold due to weak demand, according to property consultant Knight Frank.

decor trends
Pendant lights, chandeliers in classic and modern designs are instrumental in adding style Cool lighting
Lights are an important functional component of any home, but these are fast becoming swish style statements also reflecting the aesthetic quotient of the homeowner. Here we take a look at some of the home lighting trends that are ‘hot’ this summer. There is a huge variety of new and interesting options to pick up the perfect light for every space.

Pendant lights, chandeliers in classic and modern designs are instrumental in adding style

new tech on the block
Walls that breathe
Ventilated walls are earning increasing recognition in the world of contemporary architecture specifically because of the numerous benefits and in depth technological innovations.

Latest trends on display at Euroluce lightning trade fair in Milan Luxury show in Milan
Wardrobes made from exotic Japanese wood by Armani, a brass and leather ‘Donatella Versace’chair and other home furnishings from Italian luxury designers were on show in Milan last week in an effort to woo wealthy tourists and high end hotel developers. Fashion groups such as Versace and Armani diversified into home design decades ago in an effort to capture a bigger slice of the $750 billion global luxury goods market.
Latest trends on display at Euroluce lightning trade fair in Milan

Ground Realty
Master the mechanics of a modular kitchen
The concept of modular kitchen has now received universal recognition. The basic principle to be followed while going in for a modular kitchen is to have a clutter-free, efficient, well -illuminated, wide and open kitchen in the South East part of the house. Often there are area and direction constraints yet the architects and house owners try their best to apply this principle to the maximum possible extent.

launch pad
Gurgaon gets retirement homes
Addela Group’s launched its first project of retirement homes — Addela Dignity Homes — at Gurgaon earlier this week. Addela Dignity Homes is a multi-residence housing facility meant for senior citizens.

realty bites
Expensive delays
Property prices in India shoot up by 40 per cent due to delays in starting of projects, which require 34 procedures to get clearance, taking an average of over six months time and the issue needs to be addressed, according to the Economic Survey.

 

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Withstanding quakes
‘Shaken and stirred’ in high-rises
Vivek Shukla

Even though the tremors that rocked several parts of north India last Tuesday were mild, yet those who ‘tasted’ these in high-rise buildings were ‘shaken as well as stirred’ as questions regarding the safety of these buildings cropped up in post-quake discussions.

Are tall buildings that are coming up in our cities built to withstand earthquakes of higher magnitude?

Is it even possible to build an earthquake-proof building? The answer is yes and no. “There are of course, engineering techniques that can be used to create a very sound structure that will endure a moderate or even a strong quake. However, during a very strong earthquake, even the best-engineered building may suffer severe damage,” says Dr Chandra Ghosh, a noted Civil Engineer working for National Institute of Disaster Management (NIDM).

According to NIDM, over 90 per cent of the so-called Reinforced Framed Buildings across India are vulnerable to any kind of natural disaster.

“The number of tall buildings in our country is increasing by two per cent every year, and the construction process of most of these goes on without any stringent checks on the techniques used. The construction is progressing at a rapid pace and most of the ongoing constructions are not following any guidelines,” claims Prof. Anil Dewan of School of Planning and Architecture.

The builders, on the other hand, disagree with this contention of the experts as Gaurav Mittal, Managing Director of CHD Developers, says, “I can claim that we and all the leading realty firms construct tall buildings according to norms. It is possible that some shady builders don’t conform to the safety standards in the basic structure as has been proved in the building collapse in Mumbra near Mumbai.

Strong action should be taken against such offenders as they ruin the reputation of sincere developers.”

“We are bound by law to provide structures that can withstand earthquakes. To make sure that builders follow the norms in this regard, the National Distater Management Authority has made it compulsory for all new constructions to be earthquake-resistant, especially in cities located in seismic zones,” adds Mittal.

Safety standards

Buildings are designed basically to support a vertical load in order to support the walls, roof and all the stuff inside to keep them standing. Earthquakes present a lateral, or sideways, load to the building structure that is a bit more complicated to account for.

One way to make a simple structure more resistant to these lateral forces is to tie the walls, floor, roof, and foundations into a rigid box that holds together when shaken by a quake.

Experts say that engineers design buildings to withstand as much sideways motion as is possible in order to minimise damage to the structure and give the occupants enough time to get out of the buildings safely in case of an earthquake.

The most dangerous building construction, from an earthquake point of view, is an unreinforced brick or concrete block. Generally, this type of construction has walls that are made of bricks stacked on top of each other and held together with mortar. The roof is laid across the top. The weight of the roof is carried straight down through the wall to the foundation. When this type of construction is subjected to a lateral force from an earthquake, the walls tip over or crumble and the roof falls in like a house of cards. “Construction techniques can have a huge impact on the death toll after earthquakes,” says Sanjay Khanna, director of Kailash Nath Projects Pvt Ltd.

Based on the 2011 Census, the Technology Building Council categorised the type of buildings in India —bricks, concrete, bamboo, etc. Out of these, only 2.6 per cent of our building stock is reinforcement-framed. Of these, as many as 90 per cent are vulnerable to damages as these are unauthorised constructions. Of the total number of buildings, 45 per cent are made of bricks without pillars, which are highly vulnerable to earthquake.

According to a study conducted by the NIDM, 60 per cent of India’s total land area is earthquake-prone. Another startling fact is that the entire Himalayan range is vulnerable to earthquakes that can measure over 8 on the Richter scale.

In the light of these facts, the departments concerned must work overtime to ensure that nobody dares to make buildings by violating the norms.

What can buyers do to check builders’ claims

Najma Alim, director of ILD group, has a suggestion for the would be buyers of flats in residential and commercial buildings. “Buyers must ensure that the builder gives them the ‘structure certificate’.

They can check if earthquake resistant elements have been used in the foundation.

They can also get information regarding the depth of the foundation, reinforcement of walls, plinth and whether other basic guidelines have been followed by the builder.

“However, I would like to make it clear that here is no such term as earthquake- proof as no building can be entirely safe from earthquakes,” concludes Najma.

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Gold’s loss, realty’s gain?
BK Sanghi

The free fall of gold prices over the past few days has not only lead to positive sentiment in the market as low gold prices spell good time for the economy of the country, the sentiment in the “slow” real estate market has also got a boost in the past few days.

Zar (gold) and zameen (land) have been the most coveted assets in human history and both of these are the preferred investment options. With the realty scene remaining lukewarm over the past 18 months, most investors had preferred to invest in gold as the returns there were good with the prices rising substantially. Tracking the trends of the last decade alone one sees a tremendous difference in the gold prices from Rs 5,700 per 10gms in 2003 to Rs 32,000 per 10 gm in 2012. But with prices dipping to Rs 26,000 in the past few days, the golden metal has surely lost its sheen in the eyes of investors.

A recent survey by PHDCCI had also revealed that the preferred asset for Indian investors is the real estate sector, followed by gold and silver.

“The investment pattern in the country suggests that investment flow have been highest in the traditional modes of investments such as in real estate market followed by gold and silver,” the survey of PHDCCI said.

It said due to the uncertain economic environment and sluggish growth in financial markets, investors are pumping money towards safe and less risky investments as compared with highly volatile investment avenues such as stock market.

In such a scenario the focus will shift towards real estate that has been starved of investors’ funds over the past few months, opine experts.

“Realty has always been a steady rock on which to base investments. Analysis of prices over the past decade reveals that despite lows and slumps, realty has always paid off the investors”, says Ravi Sharma, a Zirakpur-based builder.

“Any investment in land has, in the long run, paid premium and it has been observed that over the years the gold hordes were gradually being converted into land holdings”, adds Sharma.

Land prices and investment have remained head and shoulders above all other available options of investing in gold, futures trading, utilities trading and commodities trading

The prices of land and gold were neck and neck, while gold held the advantage of involving lesser investment and better returns. While land has the benefit of being non-pilferable. In india the trenads are now more for investing in land.

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tax tips
Get house value reassessed
SC Vasudeva

Q. I sold my ancestral house measuring 112 sq. yd in Bhatinda for Rs 8.6 lakh in September 2012. The house was built by my grandfather in 1958-59. I got the value of the house assessed from a renowned valuer of Bhatinda and he assessed it as Rs 8 lakh in 1981. After my grandfather's death the house was transferred in the name of my grandmother and after her death it was in the name of my father and then my mother. After my mother's death it was transferred in my name. I sold this house in September 2012 for Rs 8.65 lakh. I am a senior citizen above 70 and am currently living in Panchkula. I have purchased bonds of NHAI for Rs 2 lakh and the balance amount is in bank.

Please clarify whether:

  • I need to payany income tax on balance amount.
  • Should I invest all the money in bonds having a lock in period of three years.
  • Any other alternative can save me from paying any income tax or there will be tax to be paid at all. romesh chandra bansal

A. Your queries are replied hereunder:

  • The value of the house as on April 1, 1981 having been determined as Rs 8 lakh by an approved valuer, there would not be any capital gain as indexed cost of the house on the basis of index for financial year 2012-13 would work out at Rs. 68,16,000 thereby resulting into a capital loss of Rs 59,51,000. In my opinion the value of Rs 8 lakh as on April 1, 1981 determined by the valuer seems to be on a higher side. You may please look into this aspect before taking any decision as to the utilisation of the capital gain, if any, determined on the basis of a different value as on April 1, 1981. On the basis of figures given in the query you are not liable to pay any tax on long term capital gain.
  • A person who is not interested in paying tax on capital gain, has an option to utilise the amount of capital gain towards the acquisition of tax-saving bonds. These bonds have to be bought within six months of the date of sale which period has since expired in your case. The acquisition of such bonds after a period of six months would not enable you to save tax leviable, if any, on the amount of the capital gain.
  • Another option available is to utilise the amount of capital gain for the purchase or construction of a residential house. The purchase is required to be effected within one year before or two years after the date of the sale of the residential house. The construction has to be completed within three years after the date of sale of the residential house.

Can I claim rebate on interest paid to relative?

Q. I purchased a house after borrowing money from my brother-in-law, and am paying him interest on a yearly basis on the borrowed money. Kindly clarify

  • Can I claim rebate in tax on interest paid up to Rs 1,50,000?
  • Can I claim rebate under Section 80C on the principal amount being returned annually.

What are the formalities to be completed to avail the above two rebates. promod kumari

A. A deduction under Section 80C is allowable in respect of amount repaid towards the amount borrowed for the purchase or construction of a house if the borrowing has been made from the following sources:

  • Central/State Government, or
  • Any bank, including a co-operative bank, or
  • Life Insurance Corporation of India, or
  • The National Housing Bank, or
  • Certain categories of institutions engaged in the business of providing long-term finance for the construction or purchase of residential houses in India, or
  • Any public limited company or co-operative society engaged in the business of financing the construction of houses, or
  • The assessee’s employer where such employer is a public company or a public sector company or a university or a college affiliated to such university or a local authority or a co-operative society, or
  • The assessee’s employer where such employer is an authority or a board or a corporation or any other body established or constituted under a Central or State Act [Section 80C(2)(xviii)(c)].

The amount not having been borrowed from the above sources, deduction under Section 80C of the Act would not be allowable. However, you would be entitled to claim a deduction for interest payable on such loan from ‘income from house property’ to the maximum extent of Rs 1,50,000 provided the borrowed amount has been utilised for purchase or construction of a residential house which is self-occupied.

Do I need registry before selling the flat?

Q. I had purchased a plot for Rs 3 lakh in 2002 and sold the same in 2010 for Rs 25 lakh. After selling the said plot I purchased a flat for Rs 30 lakh in 2010 itself and made full and final payment to the builder in May 2010. The possession of the said flat was given to me in October 2011. However, the conveyance deed (sale deed) has not been registered till date. I want to sell the abovementioned flat now. My queries are:

  • Is the sale deed a must before I sell the said flat?
  • The capital gain benefit availed from sale of flat in 2010 shall be counted from the date of payment to the builder or from the date of possession or from the date of the sale deed? sham lal

A. Your queries are replied hereunder:

  • You have stated in the query that the possession of the flat has been taken by you in October, 2011 and that full payment towards the cost of flat has been made. You must have entered into an agreement with the builder. Normally such agreements do provide for the execution of a conveyance deed in favour of the buyer or his nominee. In case such a clause is included in the agreement, it may be possible to persuade the builder to execute a conveyance deed in favour of the buyer directly making you a confirming party. In case such a clause is not contained in the agreement, you may try to persuade the builder to execute a conveyance deed in the manner indicated hereinabove. This will obviate the necessity of incurring the stamp duty and registration charges again.
  • The exemption claimed by you under section 54F of the Income-tax Act 1961 (The Act) would be available from the date of the ownership of the flat i.e. the date on which the possession was taken by you.

Definition of ancestral property

Q. I want to know what ancestral property actually means. Normally, it is believed that the property inherited by a person from his/her father after his death or otherwise is ancestral property. Is this contention true? If not, then, whether the term ancestral property applies to the property purchased/acquired by one's father, grandfather or great grandfather? hardeep singh

A. Ancestor means "a person from whom someone is descended". Accordingly a property inherited from father, grandfather or great grandfather would be treated as ancestral property. The property may have been purchased by the father, grandfather or great grandfather or even by great great grandfather. The term 'ancestral' has to be understood from the point of a person who inherits the property after the death of any of his ancestors. Such ancestral property may have been purchased or inherited by the father, grandfather or great grandfather.

How can I calculate my partners’ share?

Q. In April 2007, I purchased a house in HIMUDA, Mandhala (Baddi) through a draw of lots. Total cost is around Rs 16,55,000. We are four partners, but the plot is in my name only. Initially we paid 25 per cent money. The remaining amount we paid in five equal instalments within next three years. Each one of remaining three partners gave me cheques of equal value during the time of payment of instalment in my favour. Then I deposited from my account to HIMUDA. Now, first we have to get conveyance deed get done in my name as the plot is in my name, then we want to sell it. Today market price is Rs 50,00,000. Now, how much tax do I have to pay on this amount (after adjusting inflation index) and how much money I have to give them back from the remaining profit? Please advise me. arun gupta

A. The query does not indicate as to when the possession of the plot was taken. In case the possession is going to be taken at the time of execution of conveyance deed, you should hold the plot for more than three years so that the plot can be treated as a long- term capital asset. This will enable you to take the benefit of cost inflation index and any gain arising on sale of such a capital asset computed on the basis of indexed cost would be treated as a long-term capital gain. Such long-term capital gain would be taxable at a lower rate of 20 per cent plus education cess of 3 per cent thereon.

It seems from the facts in the query that the possession was not taken before the execution of conveyance deed. If this presumption is correct the capital gain of Rs 33,45,000 (50,00,000-16,55,000) would be taxable as short-term capital gain and would attract at the normal slab rates together with any other taxable income.

email your queries to realestate@tribunemail.com

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loan zone
How does reverse mortgage work?
SC Dhall

Q. I am 66 years old ans I own a house on 500 sq yd plot in Chandigarh. What is reverse mortgage loan? Can I get a reverse mortgage on my property? promode kumar uppal

A. Senior citizens owning a house but having inadequate income to meet their needs can opt for reverse mortgage loan. A homeowner who is above 60 years of age is eligible for this loan. It allows him to turn the equity in his home into one lump sum or periodic payments mutually agreed by the borrower and the banker

No repayment is required as long as the borrower is alive. However, borrower should pay all taxes relating to the house and maintain the property as his primary residence.

Things to know

The property should have a clear title. The amount of loan is based on several factors: borrower’s age, value of the property, current interest rates and the specific plan chosen. Married couples will be eligible as joint borrowers for financial assistance. In such a case, the age criteria for the couple would be at the discretion of the lending institution, subject to at least one of them being above 60 years of age.

The loan shall become due and payable only when the last surviving borrower dies or would like to sell the home, or moves out permanently. As per the scheme formulated by NHB, the maximum period of the loan period is 15 years. The residual life of the property should be at least 20 years. Where the borrower lives longer than 15 years, periodic payments will not be made by lender.

However, the borrower can continue to occupy the property. While, after the death of the home owner, the legal heirs have the choice of keeping or selling the house. If they decide to sell the home, the proceeds of the sale would be used to repay the mortgage, with the remainder going to the heirs. Amount can be used for following purposes: upgradation, renovation and extension of residential property. For uses associated with home improvement, maintenance/insurance of residential property Medical, emergency expenditure for maintenance of family For supplementing pension/other income Meeting any other genuine need. However, using reverse mortgage amount for speculative, trading and business purposes is not permitted.

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Vaastu wisdom
Madan Gupta Spatu

Q. I have been advised against having a basement in our house, but because of space constraints we want to utilise the exptra space. How can we make a basement Vaatu compliant? seema

A. Preferably there should be no basement at all so you have been advised rightly. But at the same time high cost of land has made it mandatory to utilise every inch of space. So some points can be kept in mind to keep the Vaastu dosha of a basement in check.

  • The basement should not be in south or west of the building. If at all it is so, it can be used as a godown or for storing provisions.
  • The basement must be at least 9 ft high.
  • Use only thee eastern and northern part of a basement.
  • Do not use basement for any auspicious work or for having a pooja room.
  • No member should live or have a room in the basement.
  • If the basement is in the north-east corner it is beneficial too.
  • In case the basement is in north keep the heavy things in the southwest direction. Sitting and facing the north or building a ventilation on northwest side is considered good and useful for business.
  • The only colour that can be used for painting it is white. Blue should not be used in basements.
  • A basement in east or north with cash counter on the ground floor can prove beneficial.

Q. I am interested in purchasing some agricultural land for a farmhouse. Kindly guide me about the Vaastu principles that I should keep in mind in this regard. narayan singh

A. Keep the following points in mind while purchasing agricultural land:

  • Agricultural land should have a slope towards east or north.
  • The land should never be multi-level.
  • The plot should be square or rectangular in shape. It should not have a cut in the south-east or the south-west direction.
  • Underground water storage, tanks, boring and other structures should be located in the northeast direction.
  • Wells should not be situated in the northwest, southeast or the southwest directions as it will lead to losses.
  • The farmhouse or the hut in the field should be in the southwest direction.
  • A high thick compound wall 10 to 20 ft in length and 6 ft in height should be in the south and west side of the southwest direction of the field. A full-fledged wall compound or a raised platform in west and south direction will also prove beneficial. There should never be a compound wall or a raised platform in east or north directions.

Q. We are constructing a house. Can you kindly tell us the proper direction for car porch. ajit singh

A. Porch or portico should be in the eastern or northern directions. If it is in west, the south-west corner should be vacant and if it is in south then the southeast corner should be vacant.

  • The roof of the porch should be located in east or north and should be 2 ft shorter in height than the main building. Porch with a downward slope towards north is considered auspicious.
  • A car parked in the porch should never face south. If the face comes towards the west of the northwest, the car remains in the porch for a very short time. It means that there will be a lot of travelling for the owner.

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buyer - builder deal
Plug the loopholes in sale agreement
Ganesh Vasudevan

After all the running around you have finally made up your mind and chosen your dream home. Do you think it is the end of your worries and it’s just a matter of time and you’ll soon sign the ‘sales agreement’ to become a proud home owner?

In reality post-selection procedure is more crucial than the selection procedure. Are you are wondering why and how? This is the stage where one actually has to pay for a home from his life’s savings.

Rather than reading and analysing the impact of each and every clause in the agreement or consulting a property lawyer, most of the times buyers simply sign it. They usually think it’s too long or they simply ignore it as the language is too technical or at times they are overwhelmed about owning a house and hence, fall in the trap. Developers take advantage of the buyers’ ignorance and draft agreements which are highly biased towards the developers.

It’s not that you need to be careful only when dealing with grade B or C developers. As a matter of fact most of the well known develops in India, including the likes of DLF and BPTP have also been questioned and penalised by CCI in the recent times for taking buyers for a ride.

Here is a list of checkpoints that a buyer must keep a check on before signing the sales agreement with the developer:

1 Firstly a sales agreement is a legal document that lists the terms and conditions of the transaction. These are agreed upon by the parties involved and bind the parties to fulfil their part of the commitment.

2Most of the contracts have a clause stating that the given plans are tentative and therefore, there can be alterations in the final product. Also, the final price of the house is adjusted accordingly. There should always be a mention of the permissible extent of such changes.

3Usually the builders sell on super built up area which includes the actual area of the house along with an unaccountable addition for common spaces. One should be careful and should make the developer include the details of carpet area and super area in the agreement.

This also gives the buyer an account of the extra charges demanded with respect to alterations in the plans at a later stage.

4Details of all the charges starting from the basic cost of the house to all the extra charges the buyer has to bear should be clearly mentioned. All the levied charges like utility charges, maintenance fees, club house membership charges, parking charges should be included in the agreement.

There have been cases especially in Mumbai where developers have sold the parking to external parties even when as per the contract they belong to a resident of the society.

5Details of the payment plan for disbursement of future payments must be included.

6The person responsible for paying the government taxes like Municipal Tax, Sales Tax should be included.

7Delay in delivery of the project is not uncommon today. A developer knows beforehand that in most of the cases he would not be able to stick to the execution plan. They promise a petty amount as a delay fees say Rs 10 psft per month. But on the other hand almost all the possible delay clauses are covered in the agreement leaving the buyer with heavy EMIs but no house to live in.

Rather than accepting figures like 2 years from starting of the project one should insist on the exact date to be stated in the agreement.

8Unlike the tiny delay fees, the penalty charged for delay in payment from the buyer is hefty say Rs 50 psft or even Rs 250 psft or Rs 500 psft. A developer can charge anything for a tiny mistake or delay on buyers end.

9There are times when the government alters the building norms. To densify the developed city areas they increase the FAR (Floor Area Ratio). It should be clearly stated who owns and gets the benefit out it.

10Another critical and must do point is registering the sales agreement to avoid litigation at a later stage. Being a legal document it helps in case of a fraud and creates a public record of your property.

In case of any discrepancy a buyer should always go to the consumer court as they favour buyers. Also, buyers facing similar problems should collectively work on the issue to build up pressure on the developer and other concerned parties. Consumer forums and other social networking mediums are also strong in today’s time.

In the end, with absence of any regulation defining real estate practices in India, it is a buyers’ duty to check the agreement before signing it. It is advisable to consult a lawyer and demand alterations in the agreement if required before formally signing it. It’s always best to do a check on builders’ track record.

The writer is CEO, Indiaproperty.com

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1.4 lakh homes unsold in NCR

More than one-fourth of the total 5.2 lakh housing stocks being constructed in the national capital region (NCR) are unsold due to weak demand, according to property consultant Knight Frank.

The property consultant’slatest report on the NCR residential market said regarding the housing prices that there has been a steady price appreciation in most of the micro-markets even though demand remained subdued in the NCR market. It attributed the rise in prices to increase in construction cost and investor demand.

The NCR market witnessed about 31 per cent decline in the new home launches at 33,500 units during the second half of 2012-13 fiscal compared with the year-ago period, while sales fell by 12 per cent to 33,200 units in the review period.

“Nearly 5,20,000 residential units are under various stages of construction in the NCR market. The NCR residential market has an estimated 1,40,000 units of unsold inventory which is approximately 27 per cent of the units under construction,” Knight Frank said in its report.

About 66 per cent of the unsold units are concentrated in Noida and Greater Noida due to the start of a number of big projects in these locations.

“Even though it is quite high, there is an improvement compared to early 2012 where both these markets (Noida and Greater Noida) together constituted nearly 78% of the unsold units,” it added.

The report also revealed that almost 50 per cent of housing stocks being constructed is expected to be ready for possession by the end of 2014. “Quite a number of projects that were launched in 2010 have seen execution delays pushing the completion dates to 2014 and early 2015.” The developers continue to cope with execution pressures as construction costs have risen, in turn requiring more funds to be diverted towards existing projects, the consultant observed.

“Overall the NCR residential market remained subdued with sluggish demand and lower project launches. Nearly 33,500 residential units were launched in H2 FY13, showing a dip of almost 31 per cent compared to H2 (second half) of FY 2012,” the report said. On sales, the consultant said the “NCR residential market observed total absorption of 33,200 units in H2 FY13 showing a dip of about 12 per cent compared to H2 FY12”. Nearly 65 per cent of the absorption has been in the affordable and mid-segment housing. — Agencies

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decor trends
Cool lighting
Arpita Matta

Lights are an important functional component of any home, but these are fast becoming swish style statements also reflecting the aesthetic quotient of the homeowner. Here we take a look at some of the home lighting trends that are ‘hot’ this summer. There is a huge variety of new and interesting options to pick up the perfect light for every space. The key here is the joy of spectacular lighting that transforms one’s home and that, too, at affordable prices.

Summers make the statement of being bright and bold in the home and hence the new colour in vogue is emerald green flaunting its rich tone and sophistication. To add to it, monochromatic rooms with a hint of bright, bold and decisive colour choices are in.

Lead with LED

Owing to focus on energy efficiency, the demand for LED, halogen, xenon and fluorescent lighting is on the rise. Using LED lights has become a norm these days and the innumerable LED lighting solutions available in the market are ideal to create spectacular moods and ambience with the advantage of lower electric bills and extended luminescence.

The effective version of fluorescent tube, T5, and compact fluorescent lamps (CFL), also called as “green lighting”, are also becoming popular. These are not only more durable, use less power but also lead to optimum utilisation of building colours, materials and design etc. There are various companies, including firms like Eon Electric, which are working towards developing highly efficient cost-effective LEDs.

Dynamic choice

Another way to brighten up one’s home is via dynamic lighting using varied lamps whose colour, intensity and temperature can be controlled to create the desired ambience. Apart from halogens and LED recessed lights, another current trend is the use of concealed lighting for illuminating living rooms as well as bedrooms.

Fixtures and placement trend circumscribes recessed lighting and track lighting that are already popular in kitchen and living rooms. Inclination must be towards choosing a unique fixture that highlights your favourite furniture or artwork.

In kitchen, ‘tape lighting’, which essentially are a strip of LED lights taped under and over cabinets are creating a buzz in the market. These are also available in thin, energy-efficient fluorescents with strips of xenon and halogen mini lights. Another effective option is pendants. These are not only available in a variety of shapes, colours and style but are instrumental in avoiding glare, increasing the scope of ambient lighting.

In exterior lighting, low-voltage technology comprising of fiber optics making it safe to use, is in demand.

Other trends include lights aimed upwards dramatising specific features and lights aimed downwards highlighting pathways. So, this summer bring home a range of lights that are crafted keeping in mind that you deserve nothing but the best.

The writer is an architect working for Emaar MGF group

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new tech on the block
Walls that breathe

Ventilated walls are earning increasing recognition in the world of contemporary architecture specifically because of the numerous benefits and in depth technological innovations.

Permitting free usage of facades in a modern and brand new style is the perfect answer to demanding project and performance requirements.

Ventilated façades are currently regarded as the most effective, safest system for installing ceramic tiles on façades, providing the building with numerous aesthetic as well as technical advantages. These are quick to install and their maintenance is minimum. They are therefore a practical and expedient solution for creating the outer coverings of buildings. Ventilated facades are successfully used in the restructuring of various buildings.

The ventilated wall, from an aesthetical and architectural point of view, also allows extreme flexibility in the use of materials, colour and sizes, providing the professionals with the freedom of expression in terms of varied design options.

The technology

Ventilated facades are a complex, multi-layer structural solution that enables “dry” installation of ventilated walls. This reduces the amount of heat that buildings absorb in hot weather conditions due to partial reflection of solar radiation. The heat is absorbed by the covering, the ventilated air gap and the application of an insulating material. This, in turn, helps in achieving considerable reduction in the cost of air conditioning. Vice versa, in winter, ventilated walls manage to retain heat, resulting in savings in terms of heating.

This is developed to protect buildings against the combined action of rain and wind by counterbalancing the effects of water beating on walls and keeping the building dry. This is offered with high level aesthetic characteristics and undisputed advantages of heat insulation and soundproofing.

This also protects the buildings giving considerable advantages of wall durability over time and energy, especially where tall, exceptionally exposed, isolated buildings are concerned.

With inputs fromSanjeev Ranjan, GM, Marketing, Somany Ceramics Ltd.

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Luxury show in Milan

Wardrobes made from exotic Japanese wood by Armani, a brass and leather ‘Donatella Versace’chair and other home furnishings from Italian luxury designers were on show in Milan last week in an effort to woo wealthy tourists and high end hotel developers.

Fashion groups such as Versace and Armani diversified into home design decades ago in an effort to capture a bigger slice of the $750 billion global luxury goods market. But they continue to add items from drinks coasters costing 100 euros ($130) to leather-covered wardrobes in an effort to lure buyers across the luxury spectrum from the aspirational European middle-class to wealthy Asians and property developers. “We have always looked at distant parts of the world, but this is inevitable now with the economic problems in Italy,” designer Giorgio Armani told Reuters at an evening presentation of his Armani Casa 2013/14 collection at his theatre in Milan. Armani, who used natural but rare materials such as Japanese tamo wood for a trunk-shaped wardrobe and banana tree stripes for round gaming tables, has made home design an integral part of his group.

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Ground Realty
Master the mechanics of a modular kitchen
Jagvir Goyal

The concept of modular kitchen has now received universal recognition. The basic principle to be followed while going in for a modular kitchen is to have a clutter-free, efficient, well -illuminated, wide and open kitchen in the South East part of the house. Often there are area and direction constraints yet the architects and house owners try their best to apply this principle to the maximum possible extent.

Accessories

If you are going in for a modular kitchen a number of accessories will have to be fitted in to make the space clutter-free and functional as mentioned above. Thus all the available space above or below the counter has to be made use of. The accessories include a double-bowl sink, a silent and efficient chimney, a hob or burner, a microwave, a water purifier or RO system, a geyser, a fruit and vegetable purifier, appliances like food processor, mixer grinder blender, a toaster, a refrigerator and the storage system.

The mantra

The mantra to have a clutter-free and efficient kitchen is to create sufficient storage in it in such a manner that it remains easy to store or take out a thing as and when required. A large variety of storage accessories are available in the market. The house owner has to carefully select a few as per his requirement s instead of trying to provide every type of trolley, basket, rack, shelf or partition in the kitchen.

Storage accessories

The storage accessories include baskets, pull outs, pantry units, tall units, corners, carrousels, grain trolleys, Glass Tray Plate Trays, commonly known as GTPTs, railing systems, wall-mounted holders, pole systems, drawer systems and under the sink systems. Each accessory further has a large variety to choose from. For example, the baskets may be pull-out type, plain or perforated baskets, plate baskets, vegetable baskets, cup and saucer baskets, plate baskets, cutlery baskets, bottle baskets, partitioned baskets or glass baskets. Similarly, other accessories, too, have many variants and the customer has a large choice at his disposal.

Depth of cabinets

The cabinets below the counter top have a depth equal to the width of the counter. Normally, the counter top is 24 inch wide. So the cabinets shall also be 24 inch deep. In large kitchens, U-shaped counter top is provided and sometimes, the depth of side shelf is kept lesser while that of the main counter is 24 inch. Cabinets below such side shelves are, therefore, less deep.

The overhead cabinets are mostly kept 12 to 15 inch deep so that these don’t strike the head while working at the counter top.

The depth of cabinets is important to keep in mind while deciding the size of trolleys and baskets etc to be provided in the kitchen. If this is not done, many of the chosen trolleys may not fit in to the cabinets.

Choosing the right depth

Once the depth of cabinets is known, the depth of trolleys to be fixed inside them should be worked out. The cabinet shutters are normally ¾ inch thick. Another ¾ inch goes into the back wall of cabinets. Some space is to be left to allow the hydraulic hinges of the shutters to operate. A 20-inch deep trolley or basket should therefore be chosen to fit smoothly in a 24-inch deep cabinet. In overhead cabinets and under counter cabinets of lesser depth, preference should be given to provision of wooden or steel shelves. The shelves could be fixed or removable type.

Choosing the right width

The spacing of the partitions fixed in the space below the counter should be decided by the architect very carefully by keeping in mind two things: First is the accessories that have to be accommodated and the second, the available width of these baskets, trolleys and other accessories. A margin of 1.5 inch should be kept to accommodate the telescopic channels that allow the pulling out of accessories. Therefore, in a cabinet of 16.5-inch width, it will be possible to provide a 15-inch wide trolley. The bottle racks are normally 4 -nch wide. To accommodate such pull out bottle racks, a 5.5-inch wide cabinet needs to be planned. All cabinet widths should be planned in this manner.

Essential items

Any number of storage accessories may be provided in the kitchen as per space available. However, a kitchen should essentially have a set of tandems, two or three sets of pull out baskets of different sizes, some box cutlery accessories, a pull-out bottle rack and a tall unit.

Normally, two corners are available, one of which should be provided with a carrousel or rotation basket while the other may be kept reserved for big sized multiple items. The corner basket should be able to rotate through 270 degrees.

GTPT

It is essential to provide a Glass Tray and Plate Tray (GTPT) in Indian kitchens. However, the utensil stands that have always been a part of the Indian kitchens have more capacity and are convenient to use. It is wonderful if the architect accommodates such a utensil stand in an overhead cabinet near the sink so that overall concept and symmetry of the kitchen is not disturbed. Often, the main problem faced in it is the height of the stand which is more than that of overhead cabinets. Sometimes, this is tackled by cutting off the hooks at the bottom of utensil stand. While choosing GTPT, it is better to choose one fitted with a drip tray.

Grain trolley

It is essential to have one pull-out basket in the kitchen to accommodate the drum containing the flour. The height of this container to be stored in this basket should be noted and vertical spacing among the baskets should be adjusted to allow sufficient space above the grain basket. In case flour bags are to be stored then the grain trolley can be of lesser height. Grain trolleys are costly items and one may simply choose a plain basket to use it as a grain trolley.

Material

Prefer to choose the kitchen accessories like baskets, trolleys, pull-out racks, side mounted racks in tall units, GTPTs and other items in stainless steel. AISI 304 stainless steel is costly and the accessories made of this steel have almost double the cost of AISI 202 stainless steel items. Ensure that the steel used in the items chosen by you is good and safe for storage of food items. Use a magnet to ensure that the SS used in the accessories is free of iron. Thus avoid any possibility of rusting of trolleys etc in future.

Availability

Though the baskets, racks and other items are produced by the manufacturers for varying depths, widths and heights, only a few popular sizes remain available with the retailers. Tell them an odd size and it shall never be in stock and you shall be asked to wait. Therefore, check the availability of sizes chosen by you in the market before freezing the cabinet sizes and design. Otherwise completion of your kitchen may remain pending for a long period.

Rates

Large discounts are allowed by the suppliers on the MRP list of kitchen storage accessories. The discount may vary from 40 per cent to even 55 per cent. Get a copy of the MRP list, negotiate and save your hard earned money.

Planning the storage system

The kitchen storage system should be planned by dividing the space available into two categories — space below the counter and space above the counter. Normally, the top of kitchen counter is kept at 32 inch above the floor level of kitchen as this height facilitates easy working on it. Leaving aside a 4 inch depth for RCC slab and the granite fixed over it and another 3 inch for studs supporting the under counter cabinets, a 25 inch height is available for under-counter storage system. Similarly, leaving a head space of 24 inch above the working counter, overhead cabinets can be fixed all over the working counter to store items.

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launch pad
Gurgaon gets retirement homes

Addela Group’s launched its first project of retirement homes — Addela Dignity Homes — at Gurgaon earlier this week. Addela Dignity Homes is a multi-residence housing facility meant for senior citizens. The home has an apartment-style and suite rooms for single person or a couple. The additional facilities are provided within the building include meals, gathering, recreation, health and hospice care. Addela Dignity Homes is an initiative which offers paid homes where care will be provided on fee basis. Facilities include hobby clubs, activity rooms, swimming pools, health clubs and libraries. The ready to move in units in the project have all the basic amenities like TV, refrigerator, ACs etc and it will cost elders Rs 12,000 per month per head to be a part of this high-end lifestyle.

Lakegrove township at Kundli

TDI infracorp, launched “Lakegrove” — an integrated township built around artificial lake in Kundli-Sonepat. The township will have high rise floors, waterside floors; Independent villas and plots which offer a serene view of the lake. Speaking during the launch, Kamal Taneja, Managing Director, TDI Infrastructure Ltd said, "With projects in Kundli-Sonepat, customers will most benefit as housing options here is at a relatively less price point as compared to Gurgaon, Noida and Faridabad which makes the area the best place to invest in. The Lakegrove township has been designed by World's leading Architectural firm HOK. We hope the township will definitely attract people not only from North Delhi but also from Haryana, Himachal and other adjoining areas".

The Waterside Floors will have G+4 floors with independent elevators. It will offer 3 BHK & 3 BHK study, 4 BHK Duplex and 4 BHK study duplex at a competitive price as compared to housing options in Noida, Gurgaon or Faridabad. The seamless drive from Rohini in north of Delhi will give the residents an option to explore affordable housing in that area.

Strategically located, in north of Delhi on main NH 1 in Kundli-Sonepat, TDI Lakegrove is 15 minutes away from the upmarket residential hubs of North and Northwest Delhi.

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realty bites
Expensive delays

Property prices in India shoot up by 40 per cent due to delays in starting of projects, which require 34 procedures to get clearance, taking an average of over six months time and the issue needs to be addressed, according to the Economic Survey.

According to the survey , “India’s housing and real estate sector faces many challenges. There are 34 procedures and the average time taken is 196 days, which increases the sale value by 40 per cent. ”

Citing the latest report by the World Bank, the survey said India is among the top countries in terms of housing and workspace needs, but it ranks 182nd in construction permission processes.

“Rapid increase in land prices, absence of a long-term funding and lending market at fixed rates, limited developer finance, the Urban Land Ceiling Regulations Act (ULCRA) continuing in some states, existing lower floor area ratio in cities, high stamp duties and difficulties in land acquisition are some other issues, which need to be addressed,” it said.

Real estate and the housing sector have a share of 5.9 per cent in India’s GDP and witnessed a growth of 7.2 per cent in 2011-12. The growth of the realty services has been impressive consistently at over 25 per cent since 2005-06 with 26.3 per cent rise in 2011-12.

The survey also pointed out that property prices have moderated during the current financial year.

“As per the National Housing Bank RESIDEX index for the quarter July-September 2012 compared to April-June 2012 (covering 20 cities, with 2007 as base year), there is a general decline in prices of residential properties in some smaller towns, while the increase in other cities is mostly marginal,” it added.

In view of increased urbanisation, the housing demand in cities has increased over the years. — PTI

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