REAL ESTATE

 


Haryana law to rein in rogue developers
Even as the Union Cabinet approved the Real Estate (Regulation and Development) Bill on June 4, Haryana has already taken the lead and is all set to have a real estate regulator in a bid to make property transactions transparent in the highly unregulated realty sector.

tax tips
How can I save capital gains tax under the law?
Tax liability if builder fails to give possession in 3 years
Depreciation on goodwill
Can I sell a plot without taking possession?

vaastu wisdom
Direction wise
Q.Which direction should one face while conducting a satsang/kirtan at home or for prayers?  — rohan

Loan zone
Q. Is a home loan borrower bound to take insurance cover ? — ankita walia

guest column
See the red flags before investing
Investing in property is one of the most difficult financial decisions that one has to make. It requires a lot of hard work, careful consideration of your family aspirations, personal motivations, financial limitations and prevalent policy and real estate norms, all of which impact your decision in one way or another.

realty bites
New home launches tumble in NCR
Property market of the National Capital Region (NCR) saw 39 per cent fall in the new launches of apartments to about 7,600 units during January-March period compared with the previous quarter, global realty consultant Cushman & Wakefield (C&W) said.

decor trends
Staircase to aesthetics
Well-designed interiors can successfully augment the aesthetic appeal of any house. As a consequence while working on the interiors, it is imperative to stay focused on the basic elements and render a unique, creative dimension to them. When one talks of concentrating on the basics, stairs in a house immediately come to our mind.

Green house
Small summer retreat
Summer is the time when one is naturally drawn to water and what's better than having a small water body in your garden. A lily pool is an ideal choice if you have some spare space as it provides an ideal place to sit next to in the evenings or early in the morning and savour the cool and fragrant ambience. 

Add a touch of colour to your home
Home is where the heart lives, and we all look forward to our dream home after a long and tiring day to relax and relieve stress. However, our home also needs small changes or renovation time to time to gel with changing weather. Rather than changing everything, some experiments with colour themes of fabrics, furnishings, wall and roof, curtains, furniture and light can give entirely new look to your home décor.





 

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Haryana law to rein in rogue developers
Real estate regulator to protect interest of buyers
Pradeep Sharma

Even as the Union Cabinet approved the Real Estate (Regulation and Development) Bill on June 4, Haryana has already taken the lead and is all set to have a real estate regulator in a bid to make property transactions transparent in the highly unregulated realty sector.

In fact, with the Haryana Assembly passing the Haryana Real Estate (Regulation and Development) Bill, 2013, decks have been cleared for the constitution of the Haryana Real Estate Regulatory Authority to protect the interests of property buyers and have regulated and planned development of the real estate sector in the state.

“The broad contours of the proposed authority are modelled on the Central Bill and are primarily aimed at twin objectives of the registration of real estate projects and the registration of real estate agents for making real estate transactions hassle-free and transparent for the benefit of the common man,” a senior government functionary said.

Under the new regime, “no promoter shall book, sell or offer for sale, or invite persons to purchase in any manner any immovable property or part of it without registering a real estate project with the authority.”

The authority would provide a registration number to the promoter, including a login ID and password for accessing the website of the authority and create his own web page to upload the details of the project. “In this way, the details of projects, including the advertisements issued by promoters, would be put in public domain and the investors would be able to access the requisite information with avoid frauds in property transactions,” the officials highlighted. To check ‘pre-launch’ bookings and speculation in the realty sector, the Bill makes it mandatory for promoter to enter into a written agreement for sale with buyers after paying an advance of 10 per cent of the total cost of the property. Now, it would be mandatory for developers to launch projects only after acquiring all statutory clearances from the authorities concerned. Currently, pre-launches, without mandatory clearances are a routine affair, leading to speculation in the realty market.

Official sources said the government was in the process of naming one chairman and at least two members of the committee. The authority would have the powers of the civil court and empowered to settle “any dispute between the promoter and allottee”. It would be mandated to make recommendations for protecting the interests of allottees and promoters, order investigations and issues directions for the regulated and planned development of the state.

The appeals against the order of the authority would go to the Appellate Tribunal, which would be the final authority to adjudicate on authority’s orders. All proceedings before the tribunal would be deemed to be judicial proceedings under various provisions of the Indian Penal Code.

Welcome move

Welcoming the move to have a regulator for the real estate sector, B.K. Sanghi, president of the Haryana Group Housing Federation, termed this a revolutionary step in the direction of instilling ethics in the real estate sector. “If implemented in letter and spirit, the provision of the new Bills would go long a long way in checking the fly-by-night operators in the real estate sector,” he added.

Tarun Sharma, an end-user, said currently almost all builders took the gullible investors and end-users for a ride by giving misleading advertisements and not delivering the promised amenities in the housing and commercial projects.” At least, the new regime would provide an alternative grievances redressal mechanism to the investors and end-users,” he hoped.

Independence concerns

With builder-politician-bureaucrat nexus ruling the roost in the real estate in Haryana, questions are being raised at the efficacy of the authority in curbing malpractices by unscrupulous builders. Since the realty sector in currently highly regulated, the effectiveness of the new authority is being questioned, as the state government would be the sole authority to name the chairman and members. It is feared that the authority may be used as dumping ground for retired bureaucrats and state government’s favourites. 

The new checks

Registration of real estate projects, agents must.

New projects to be in public domain.

Pre-launches, misleading ads to be checked.

Authority and tribunal to have powers of a court.

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tax tips
How can I save capital gains tax under the law?
S. C. Vasudeva
email your queries to realestate@tribunemail.com ...

Q. I applied for a 250 square yards plot on January 1, 2001, and also deposited Rs 93,750 as 10 per cent of total cost of the plot. The letter of intent was issued to me by GMADA on March 30, 2001, and I further deposited Rs1,40,625 as 15 per cent of total cost. The draw of lots was held on February 17-18, 2009, and I was allotted a plot No. 1757 in Sector 80, Mohali. GMADA issued me a letter of allotment on February 10, 2012. It was mentioned in the allotment letter that the tentative cost of plot is Rs 9,37,500 (@Rs 3,750 per square yards). As per condition of allotment letter, I was supposed to obtain the possession within 60 days, failing which it will be presumed to have taken over the possession. The first installment of Rs 2,01,565 (Rs 1,17,190 + 84,835), including 12 per cent interest, was due on February 20, 2013. But, I deposited Rs 3,50,000 as advance payment on October 22, 2012, and Rs 88,150 on May 17, 2013. I need your valuable advice on the following points:

If I sell this plot, whether entire proceed would be treated as short-term capital gain or long-term capital gain. Can I deposit the entire sale proceeds in the Capital Gains Account (long term or short term) and utilise it on maturity. What would be the tax implication in such a case?

Can I utilise a part of the sale proceeds for the construction of the second floor of my existing house at a separate location and the remaining sale proceeds for the purchase of another plot/built up house/flat in Mohali or any other place or Can I deposit the balance amount in (long term or short term)? What would be the tax implication in such a case?

What is the time period for which the sale proceeds deposited in the fixed deposit would not be taxable?

Is it necessary to have a physical possession of the plot? How would the period be counted for ascertaining short-term/long-term capital gain?

Can I distribute the amount to my wife, sons and daughter? One of my sons is living abroad, can I send his share to him? How much amount can be sent to him out of the sale proceeds to the plot?

Whether GMADA can charge interest on installment @ 12 per cent as per the clause of allotment letter if the plot is not feasible for construction as the development works such as road, water supply, sewerage and electricity, etc., are not completed.

How can I save the capital gain tax in best possible way under the law?

Kindly advise me on the above points. Please intimate the rate of wealth tax/capital gain tax also. — o.p. bhatia

A.Your queries are replied hereunder:

In case the plot is sold in the year 2013, any gain arising on sale of plot will be treated as a short-term capital gain. A capital asset held for more than three years is considered to be a long-term capital asset. Any gain arising on sale thereof is treated as a long-term capital gain.

In view of the fact that the gain arising on the sale would be in the nature of short-term capital gain, any deposit in a bank under capital gain scheme would not enable you to save tax on such a gain. Short-term capital gain is taxable at the slab rate applicable to your total income.

The sale proceeds can be utilised for any purpose after payment of due tax as indicated above.

There is no such scheme in the Income-tax Act 1961 (The Act), which enables a tax-payer to save tax leviable on capital gain by depositing the sale proceeds of capital asset in a fixed deposit with a bank.

It is always better to have a physical possession of the plot because it enables you to see the exact location of the plot in the area in which it is located.

The period of three years would be counted from the date of possession and in case the plot has been held for a period of more than three years taking into account the date of possession, it will be treated as a long-term capital asset and any gain arising thereon will be taxable as long-term capital gain.

As indicated above, you can utilise the sale proceeds of the plot in any manner subject to the payment of tax as indicated above.

You can send the share of your son who is settled abroad without any problem. A resident individual is allowed to remit up to $2,00,000 per financial year (April-March) to a non-resident relative.

The charge of interest on delayed installments is based on the agreement signed with the land owning authority. In case the development of the area has not taken place as promised by the authority in the allotment letter, you can always approach the court for giving the desired relief.

Options to save tax have been provided in the Act in respect of tax payable on long-term capital gain. There is no provision in the Act, which enables a person to save tax on short-term capital gain.

Wealth tax is payable in case net wealth of a person exceeds Rs 30 lakh @ 1 per cent of the net wealth which exceeds the sum of Rs 30 lakh. It may be added that only specified assets are chargeable to wealth tax. Long-term capital gain is chargeable to tax @20 per cent plus education cess of 3 per cent thereon. Short-term capital gain is chargeable to tax at the slab rate applicable to an assessee's total income.

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Tax liability if builder fails to give possession in 3 years

Q.LTCG of Rs 40 lakh accrued in February, 2012 which stands deposited in specified capital gain bank account in July, 2012. This capital gain will be utilised for purchase of under-construction residential flat within three years from a builder. However, from realty market inquiry, I came to know that the project will not be ready for possession before June, 2015. More than one year has already lapsed. Actually the ready-to-move-in units are costlier as compared to the under-construction one and I may not be able to afford on in order to invest the capital gain in time. Please tell me that apart from purchasing an already built up flat within two years or a flat in an advanced stage of construction as a second buyer from original purchaser within three years, what are the other options available for me? Is the exemption available for acquiring a flat in case its declared date of completion is after three years of the date of accruing the capital gain but payment is released by me within three years from the capital gains bank account. — r.k.gupta

A. The Income-tax Appellant Tribunal Mumbai Bench has recently held in Kishore H. Galaiya vs. I.T.O. ITA No.7326/Mumbai/2010 that in case the assessee has paid full amount to the builder and in the process utilised the entire amount of capital gain towards such payment, but the builder has not given the possession of the flat as agreed, within the period of three years, the assessee will not be liable to pay tax on the amount of capital gain arising on the sale of a capital asset. Thus in case the amount of capital gain is so utilised within three years you should not be liable to pay tax on capital gain even if the possession of the flat is not given by the builder within the said period of three years. The Hon'ble ITAT for the above conclusion relied on the decision of Bombay High Court in the case of CIT vs Mrs. Hilla J.B. Wadia (216 ITR 376).

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Depreciation on goodwill

Q. Can we provide depreciation on intangible assets (goodwill)? 
— piyush single

A.Goodwill is a fixed asset and is to be classified as an intangible asset in the financial statements. Goodwill arising on amalgamation represents payment made in anticipation of future income and should be amortised on a systematic basis over its useful life in accordance with the provisions of Accounting Standard (AS)-14 Accounting for Amalgamations. The standard also provides that it is considered appropriate to amortise goodwill over a period not exceeding five years unless a longer period can be justified. The Supreme Court in Commissioner of Income-tax, Calcutta vs. Smifs Securities Ltd. (348 ITR 302) has held and the goodwill is an asset, and that the assessee company in the process of amalgamation had acquired a capital right in the form of goodwill because of which the market worth of the assessee company stood increased. Accordingly, goodwill being in the nature of an intangible asset should be eligible for depreciation under section 32 of the Income-tax Act 1961 (The Act). In my opinion, therefore, it will be appropriate to amortise goodwill over a period of five years and claim depreciation for tax purposes in accordance with the provisions of Income-tax Rules 1962 (The Rule).

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Can I sell a plot without taking possession?

Q.I own a residential plot in Gurgaon and am the original allottee. The plot was allotted to me in 2004 from HUDA for which an allotment letter was issued. All the required payments were made in yearly instalments which finished in March, 2011. I was asked to take the possession of the plot in January, 2010, but I have not taken it as yet as I don’t want to build on it. My queries are:

Can I sell the plot without taking the possession of the plot?

If I sell the plot, will it be a long-term or short-term gain?

As the original price of the plot is Rs 7,18,200, what will be my tax liability?

What if I build a house on the plot and then sell it, what will be my tax liability?

What are the tax implications if I transfer the plot to my mother as a gift?

And just for information, when the plot was allotted to me, I was an Indian citizen and now I am an NRI.

If I want to sell my plot, what documents do I need to prepare? Will it be only conveyance deed? — tarun

A.Your queries are replied hereunder:

You can sell your right in the plot without taking the possession of the plot. If the plot is sold in 2013 without taking the possession, it would be a case of long-term capital asset as the plot was allotted in 2004 and any gain arising on sale thereof shall be treated as long-term capital gain.

It is not possible to compute your tax liability as the sale price of the plot has not been indicated in the query. In case you intend to build a residential house on the plot it would be essential for you to take possession of the plot. Therefore, it would be essential for you to hold such house for a period of three years from the date of construction so as to claim that the gain arising on such sale should be treated as a long-term capital gain. In case the sale is made within three years, gain arising on such sale shall be treated as a short-term capital gain and will be taxed at the slab rate applicable to your total income.

It is not possible to compute the tax liability on the sale of the house as necessary particulars regarding sale price etc. have not been indicated in the query.

There would be no tax implications in case the plot is gifted by you to your mother. This will, however, necessitate execution of a gift deed which would attract stamp duty leviable on the basis of the market value of the plot.

The change in status from resident Indian to non-resident Indian would not make any difference as the taxability of the capital gain.

In case you want to sell the plot, execution of conveyance deed would be essential. The same will also have to be registered with the sub-registrar. You may check up with HUDA whether any permission from them is also required for such a sale.

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vaastu wisdom
Direction wise
madan gupta spatu

Q.Which direction should one face while conducting a satsang/kirtan at home or for prayers? 
— rohan

A.Earlier each room had a puja room or an area marked specifically for prayers but now due to paucity of space, in many homes the prayers area has been reduced to just a puja shelf. According to Vaastu principles the northeast corner i.e. Ishan corner is the right and correct place for the kirtan/satsang. Puja room should always be clean and no other things except puja materials should be kept there. At any cost pooja room should not be placed outside the house. However, if such a situation is unavoidable then one has to follow certain specifications. A four- side walk is lucky for pooja room, try it, but only with stern specifications. As for the satsang area one should ensure that thee flow of air in the area is not interrupted. Kirtan/satsang hall can be seated at Brahmastan(middle of the house is called Brahmastan). The strongest influence of natural law on earth comes from the sun. As it crosses the sky it generates different qualities of energy. Homes should be designed so that different energies of the sun correspond to the specific function and activity. 

Q. I am always scared of thefts and burglary as it has happened thrice in my home. Where should the valuables be kept in house? 
— shikha

A.Valuables such as jewellery, ornaments, cash, costly utensils, etc should ideally be kept in the northern direction. This is the direction of Kuber — the god of wealth and prosperity. Therefore, this is the best place for a treasury room. Cash box or safe (almirah) should be placed in this room along the south wall in a manner that it opens towards the north and the person opening it faces south. Installing modern gadgets like cameras, electronic safes etal will also help. Install a Mangal Yantra of copper on the entrance of your house as a remedy if pilferage/thefts/burglaries are very frequent.

Q. For the safety of our family members we keep arms and ammunition at home. Can you suggest the 
proper place to keep these so that legal complications can be avoided? 
— ajaib singh.

A.A room in the south-west corner has been mentioned as the right place for keeping weapons in Vaastu Shastra. This area can also be used as a place to store heavy articles, tools and kits or keeping such articles which are used seldom, or as a store for unserviceable waste articles.

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Loan zone
s. C. dhall

Q. Is a home loan borrower bound to take insurance cover ? — ankita walia

A. Bank nowadays usually offer an insurance product and convince the customer s that the approval of the loan is conditional to his taking the policy. If the customer refuses, the bank will find ways to reject the loan or offer a lower amount, which may not meet the customer’s requirement.

A home loan customer who is availing of a home loan running into several lakhs of rupee, may not mind spending a few hundreds or thousands as premium, especially if the bank convinces that without the insurance the home loan will not be approved.

In some cases the bank may approve the loan, but delay the disbursal of the money. If the borrower has already zeroed in on a house and is facing a time limit to pay the money, he may succumb to the pressure and agree to take the policy, in order to get the funds on time.

However, taking an insurance to cover your loan amount is a good option and one should avail of this opportunity. But there have been cases where some private banks have been “forcing” clients to take health or life insurance covers. This you can refuse if you already have an insurance cover.

When faced with such a situation, the best option is to refuse the insurance. If the bank rejects your loan application, then the onus is on the bank to explain why it is rejecting the loan.

Banks are required to convey the reason for rejection of the loan, in cases where they have rejected a loan application, according to Ombudsman. If the explanation is not satisfactory, customers can approach the bank’s Customer Grievance Cell. If within a month they don’t get a response, they can approach the Office of the Banking Ombdusman or alternatively, the consumer forum, consumer court or civil court.

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guest column
See the red flags before investing

Ravi Saund COO, CHD Developers Ltd.
Ravi Saund COO, CHD Developers Ltd.

Investing in property is one of the most difficult financial decisions that one has to make. It requires a lot of hard work, careful consideration of your family aspirations, personal motivations, financial limitations and prevalent policy and real estate norms, all of which impact your decision in one way or another. Choosing to invest in the right developer is extremely important. Here I have stated the warning signs which the buyers should be wary of while choosing the right developer:

Developer’s legal background: Taking keen interest in knowing the legal background of the developer will help the buyer ensure that the developer has not been in any legal hassles.

Be aware of fly-by-night operators: Investors must be wary about fly-by-night operators and even the more established players who are unable to fulfill their commitments to the buyers.

Track record of delivery of projects: The track record of the developer in delivering projects is a key criterion while buying property. A developer with an impressive track record will surely deliver better than any other developer.

Financial stability of the developer: The reason why you need to keep a track of the financial stability of the developer is because it determines the credibility that the developer enjoys in the market.

Transparency and accountability of the firm: The state of a listed company is more visible to the buyer and it can help in taking a comprehensive investment decision. A listed firm provides higher transparency and accountability as its activities directly impact its share prices. Listed firms have an edge over other real estate companies as they are under the scanner of SEBI.

Regulatory approvals: Make sure that the title to the land that of the project and all the regulatory approvals are in place. This needs to be done irrespective of the nature, size and reputation of developer. The buyer should insist on verifying all documents pertaining to land title, approvals of building plans and commencement of construction.

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realty bites
New home launches tumble in NCR

Property market of the National Capital Region (NCR) saw 39 per cent fall in the new launches of apartments to about 7,600 units during January-March period compared with the previous quarter, global realty consultant Cushman & Wakefield (C&W) said.

In the top eight cities of the country, C&W said an estimated 38,000 residential units were launched in the first quarter of 2013, registering a marginal fall of about 2 per cent over the previous quarter. These major eight cities are NCR, Chennai, Kolkata, Bengaluru, Mumbai, Hyderabad, Pune and Ahmedabad.

“The NCR witnessed the launch of approximately 7,600 units, a decline of 39 per cent compared to the previous quarter,” C&W said in a statement.

The new launches were concentrated in the suburban locations of Gurgaon (66 per cent) and Noida (34 per cent) with over 80 per cent of units catering to the mid-range segment. “Due to the subdued demand, Noida witnessed a steep decline in new launches at close to 70 per cent and ended up being the primary contributor for the overall decline in number of launches in the NCR,” the consultant said.

Chennai, Mumbai, Hyderabad and Ahmedabad also witnessed decline in new launches of residential units by 39 per cent, 3 per cent, 89 per cent and 62 per cent, respectively.

“New residential units launched more than doubled in Bengaluru and Pune in the last quarter, increasing by 144 per cent and 109 per cent, respectively,” C&W said. Kolkata saw a modest increase of 3 per cent.

On prices, the report said most locations in Delhi witnessed stable capital values in both mid- and high-end segments. However, capital values in the high-end segment in South Central Delhi witnessed 15 per cent appreciation over last year due to limited supply and high demand. Among the suburban locations, Gurgaon saw higher appreciation due to the high demand from both end-users, the workforce working in the various companies located here and investors, coupled with the limited project completions.

Gurgaon (NCR) saw a change in the capital values in the luxury/high-end and mid-end residential segment at 29 per cent and 18 per cent, respectively, over last year, C&W said.

Housing.co.in raises $2.5 mn

Realty portal Housing.co.in, started by a group of IIT-Bombay students, has raised $2.5 million of funding from Nexus Venture Partners.

“The current round of funding will allow the company to aggressively expand its technology and data sciences teams with over 30 IITians in these teams,” a statement said.

Moreover, the company is also building a large headquarters only for the technology team, which will be one of the major investment.

“We are very happy to partner with and receive mentoring from India’s leading VC, Nexus Venture Partners. Their experience in building high technology companies in India and abroad is what attracted us. We were just amazed by the speed of their decision making and trust they had in our team,” Housing.co.in co-founder Advitiya Sharma said.

Housing.co.in was founded eleven months ago by a group of IIT-Bombay students. The portal has a unique user interface which empowers users with the ability to view a house without necessitating physical presence.

“The Housing team is disrupting online search for home buying and renting in India like never before. We were very impressed with the vision, passion and speed of execution of the founding team and we are very excited to partner with them,” Nexus Venture Partners Co-founder Suvir Sujan said.

Mumbai top investment destination for office properties

Central Mumbai has emerged as top investment destination for office properties with 19 per cent annual return as prices are expected to rise 63 per cent over five years, global realty consultant Knight Frank has said. The rental values of office space in central Mumbai are estimated to rise by 47 per cent by 2017, according to its report ‘India’s Top Business Districts To Invest In’.

“At 19 per cent per annum, Mumbai’s central business district will yield the best investment return in the country,” Knight Frank India Chief Economist and Director (Research and Advisory Services) Samantak Das said.

While the capital values of office properties in central Mumbai are expected to increase at Rs 27,400-37,200 per sq ft in 2017 against Rs 16,800-22,800 per sq ft last year, the monthly rentals are expected to increase to Rs 206-279 per sq ft from Rs 140-190 per sq ft during the period under review.

“Central Mumbai and suburban business district (SBD)-west grab the top two spots in the overall list,” the report said. Mumbai’s (SBD-West) will give a return of 15 per cent. Availability of talent, conducive business environment, international air connectivity, presence of prominent stock and commodity exchanges along with headquarters of several banks form the backbone of the financial industry in Mumbai, the consultant noted.

India's financial capital's office space has seen highest occupancy of 26 per cent from the banking, financial services and insurance (BFSI) sector, followed by IT/ITeS segment with 25 per cent demand.

Hyderabad (SBD), Mumbai (BKC & off BKC) and Pune (SBD East) are at third position in terms of investors return at 14 per cent per annum. The business districts of the National Capital Region (NCR) and Bengaluru, despite being the largest office markets in the country, will lag behind other cities in terms of investor return, Das said.

The office properties in Delhi-NCR would give an annual return in the range of 8-11 per cent to investors.

DLF targets new sales booking

Realty major DLF Ltd has said it is targeting more than 50 per cent jump in new sales booking to Rs 6,000 crore in the 2013-14 fiscal. The company said it will invest Rs 3,000-3,200 crore on construction of various projects this year.

DLF Ltd, the country’s largest listed developer, said it aims to bring down net debt to Rs 19,000 crore by June and reduce it further to Rs 17,000 crore by end of this fiscal.

“We are targeting sales of about 8-10 million sq ft this fiscal, at Rs 6,000 crore. Last year, we sold 7.23 million sq ft, at Rs 3,900 crore,” DLF Ltd Chief Financial Officer Ashok Tyagi said.

Asked how it plans to bring down the company’s net debt, Tyagi said: “We are aiming to reduce our debt to Rs 19,000 crore by June with the help of funds raised from the recently concluded Institutional Placement Programme (IPP).”

DLF has raised Rs 1,863 crore through the issue of over 8.1 crore fresh shares to institutional investors, enabling it to dilute promoters stake to 75 per cent in line with market regulator SEBI’s minimum public shareholding norms.

The company said it will focus on bringing down the debt level by 50 per cent in the next three years and see free-cash flow remains positive by 2014-15 fiscal. — PTI

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decor trends
Staircase to aesthetics
ARPItA MATTA

Well-designed interiors can successfully augment the aesthetic appeal of any house. As a consequence while working on the interiors, it is imperative to stay focused on the basic elements and render a unique, creative dimension to them. When one talks of concentrating on the basics, stairs in a house immediately come to our mind. How people choose to design the stairs of their house is a matter of personal choice. Well, gone are the days when staircases were made solely for the purpose of functionality. Today, these can be a central design feature capable of transforming the interior of a house. In fact, they do more than connect levels; their visual presence is a design statement in itself. Staircases are fast becoming a priority for home-owners, seeing their potential to add that 'wow factor' to a house. Not only that, a well-designed and accessorised flight of stairs not only adds a touch of glamour but also complements the specific design theme of the house interiors.

A staircase is a practical necessity in any house. Whether a house is built in a classic style or a contemporary one, the choice of banisters, balustrades and handrails of the staircase greatly impact the overall design. For instance, a sleek, stainless steel staircase works well in homes with a high-tech, contemporary style whereas a very grand home with an impressive entrance hall requires something more majestic. While most old, traditional colonial houses have large banisters and an elaborate staircase with carved handrails, the modern ones may flaunt a spiral staircase and curved banisters with designer metal handrails and decorative grills. Converting spiral stairs into show pieces for in-house libraries or family rooms is also quite in vogue.

As far as custom-made stairs are concerned, there are different options available in the market like - steel, glass, timber, copper or aluminum. With them one can experiment with newer and bolder styles of banisters, balustrades glass and handrails while maintaining parity with the overall style, design and theme of the house and its interiors. From practical utility to high value artistic renderings, stairs are indeed witnessing an experimental revolution in terms of designs and varieties.

There is a lot more to stairs than one can fathom. Besides being used for reaching upper and/or elevated sections of a house, stairs can also be used to add life to an otherwise dull space - in a unique manner. A staircase can be developed in many shapes like curved, cantilevered, and spiral or suspended depending upon the aesthetic maturity of the home owner. In fact, there are innumerable possibilities which can turn the staircase into the most important focal point of the house.

Typically, stairs are expected to be a long-lasting addition to the interiors of a house. Therefore, they must be versatile to withstand time as well as rapidly changing interior design trends. One of the latest trends is the use of glass. The light, ethereal aesthetic of glass creates an illusion of a floating staircase. The translucent nature of glass maximizes the use of light and space, creating an 'airy' feel. A frosted, opaque effect, achieved through sandblasting, can be a good way to increase the safety of the staircase since it provides a better friction underfoot.

Stainless steel is another material gaining popularity on account of its strengths and looks. Although it is often associated with very bare, minimalist architecture, it can, in fact, take on a range of different looks. A combination of stainless steel and glass creates a dramatic as well as stunning look. The trick is not to over-use it and to experiment with different finishes like bright, matt, brushed etc. One should invest an equal amount of time to define the design of a staircase which can magnify the look of a house. After all, they are the one's responsible for taking us a level up, isn't it!

— The writer is an architect working for Emaar MGF

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Green house
Small summer retreat
Amarjeet Singh Baath 

Summer is the time when one is naturally drawn to water and what's better than having a small water body in your garden. A lily pool is an ideal choice if you have some spare space as it provides an ideal place to sit next to in the evenings or early in the morning and savour the cool and fragrant ambience. Nymphaea odorata commonly known as water lily is an elegant flower that can add beauty to any landscape. The flower that comes in various hues of white, blue, yellow and red has large heart-shaped floating leaves that make it an ideal choice for a small lily pool.

A lily pool may be located near a corner of the garden where it can get partial shade. The foliage around the pool will further enhance its aesthetic beauty. The size of the lily pool could vary according to the space available. Nymphaea will grow well and can flower even in less than 1 sq m area. The main consideration is that water pool should be shallow. The depth of water in the pond is maintained at 30 to 45 cm level.

Sunny locations are generally avoided, because water gets heated which is not desirable especially in a small shallow pool. Also high temperature will kill the small fish which are an integral part of such a pool because still water usually becomes breeding area of mosquito larvae and is great favorite of Black Molly and gold fish. During winter the arrangement for poly cover is required to prevent the foliage and the fish from the extreme low temperature.

The water lily plants are grown from a tuberous stock which is produced by the plant in the water. They can be set in the lily pool during February-March. Soon tiny leaves start emerging from the tubers which gradually come at the surface. Alternatively, it can be planted in shallow pot filled with well manure soil barely covered with water and as it starts sprouting the plant is transferred into the pond. The stalks arise from thick, fleshy, creeping underwater stems that are buried in the soil.

The selection of varieties should be made to have sporadic flowering from March till November. However, most of the varieties flower during the rainy season, a few are highly scented.

Once the lily pool is established it requires little care. Fertiliser can be added by putting a handful of it in a thin cloth wrapping and sinking it into the loose mud around the roots of the water lily plants.

So find a suitable place in your garden and create your own little pool with flowers and fish to give you company on a sultry summer evening.

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Add a touch of colour to your home

Home is where the heart lives, and we all look forward to our dream home after a long and tiring day to relax and relieve stress. However, our home also needs small changes or renovation time to time to gel with changing weather. Rather than changing everything, some experiments with colour themes of fabrics, furnishings, wall and roof, curtains, furniture and light can give entirely new look to your home décor.

Colour combination: The right combination of colour and fabric for furnishings, bed spreads and curtains makes your house look livelier and also increases its fashion statement. Firstly, avoid using dark printed bed sheets and pillow covers from bedroom and living room area. Remove all the brighter shades curtains and go for a soft and smoother look. Use lighter shades bed sheets and curtains, especially during summers. Shop for floral prints bed sheets and curtains in the market and if there is a painter inside you, you can explore your creativity skills. For curtains, use of linens in neutral tones or even diluted coloured tones is highly recommended. So, opt out for shades like pastel, white, off-white, mint green, light brown. Stylish cushions and accessories in luminous colours with varied designs work well and definitely match the perfect ambience.

The colours used in the home should be cool neutrals or pastels with pop of colour in accessories and accent pieces which match its present mood itself. Some of the hot colours of the season are in trends like orange. It is basically continuing in popularity from last season, and has become brighter and more prominent. Yellow is a warm and happy colour of sunshine, which is a great accent colour to be used in home furnishings. Poppy red is another exciting colour for spring summer which adds lots of energy to a space. And if you are fond of green, then emerald green is vivid and full of life. If you don't want to take so much pain, then try keeping walls neutral with a focal wall covered in wallpaper subtly matched to the décor. Choosing furniture: Furniture should be light with a few white high-gloss accent pieces along with some dark wood veneer polishes forms up a cool metallic look. Usage of fresh flowers in the flowerpot will add a refreshing factor in your living room. Also, it will make your house look brighter in summer.

Handy tips: Vijay Kumar Jindal, CMD- SVP Group says: "To suit all weather, one can select white colour for the roof and the wall. You can play with light colours for walls like light green, sky blue, sea green for kids. Light coluors, especially white colours, actually suit in the shinning summers and easily gel with winters, too. In our projects we don't go for yellow, green or red coloured lights because it automatically increases the heat capacity in room and raises temperature from normal and consume more electricity. Generally, we install CFL lights or tube lights to make a room bigger and beautiful and cut down the heat capacity and heavy bills."

Inputs by Honey Jolly, Design Head, Home Ettu.

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