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Tech touch for your home
Rapid gains
Rentals to remain under pressure
realty bites
at home with fENG SHUi
off the shelf GROUND REALTY Vaastu Wisdom tax tips REALTY GUIDE
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Tech touch for your home
The overall sentiment in the realty market may be pessimistic, but this has not obturated the introduction of new trends and attractions for homebuyers. While locality and price have always been the most important considerations, comfort and security, too, are among the key deciding factors for homebuyers. Seeing a marked preference for this, a large number of residential projects are now being equipped not only with state-of-the-art home automation systems, but integrated building management systems (IBMS) and machine to machine (M2M) compliance. So smart homes and smart buildings are the latest trend making waves in the Indian realty scene. While for the tech savvy Gen X buyers these smart homes are just an extension of their tech-governed lives, other groups of buyers are also lapping up these with an equal gusto due to the safety and economy factors. Triggers “Security and comfort have now become top priorities and are spurring demand for home automation in metro cities, more so in Noida NCR”, says Pawan Chawla, Director, Unnati Fortune World, while talking about the tech features in the project. The villas at Unnati Fortune World have electronic surveillance devices for residents to communicate with visitors and monitor the security status of the front gate and home door. Emergency alarms have been fitted that help alert security personnel. “Moreover, our home alarm systems can be programmed to have various life-saving sensors. Home security is not just being able to prevent burglary; it’s about being able to protect your life. Each one of our systems has the ability to add important sensors including life saving devices like: smoke detectors, medical panic alert, and more,” says Chawla Along with these reasons, the rising power bills due to increased reliance on electrical gadgets have also made a majority of homeowners look for ways to reduce the energy expenditure and use the gadgets more intelligently and responsibly. Tech-tuned homes Home automation has a number of elements right from digital door locks and video door phones, CCTV cameras, light automation or automatic switching on and off of lights to curtain and electric gadget automation involving automatic control of ACs, geysers, microwaves etc. in homes. A few years back this market did not exist and one couldn’t think of automating one’s home without ‘ripping’ apart one’s home, but now it is possible to have these systems put in place without much inconvenience and breakage. According to Singh, it can even be done within 24 hours. This is the reason that not only those living in apartments, but people having independent homes are also opting for this technology. “Currently a lot of demand is there in major metros, NCR, Mohali, Chandigarh, Pune and Bangalore”, says Singh. His company has provided home automation in Riverdale project in Zirakpur, besides in a number of independent homes in Chandigarh. However, in spite of its obvious benefits all is not hunky dory in the ‘automation land’. Monitoring and maintaining these systems is not without its hitches. High speed internet connection is required to run all these automation systems in your home, and that in itself can be a costly provision. Moreover, it is not possible to get such high speed connections everywhere. These are some of the concerns that the homebuyers have to be aware of. Beyond the four walls One way in which these problems have been dealt with is by expanding the scope of this technology to include complete buildings. The fast evolving world of automation systems is now also encompassing systems in whole buildings through Integrated building Management Systems and M2M integration. All machines are connected with high speed networks In M2M compliant buildings all the gadgets and machines in the complex are integrated with one another. So lifts, power back up, water supply, surveillance etc of the complete building are covered by this system. It is basically a microprocessor based, distributed processing for Automatic Control and Monitoring majorly covering temperature control, access control, surveillance etc, This means that lift protocol can be shared with software people and this way any maintenance related needs of lifts can be known much in advance like the lifts needing a change of belts, problems in lift doors etc are conveyed much in advance and much before the problems actually snowball into a crisis situation. In a similar manner the power back up systems that are being provided in most high rises and housing societies are archaic as the backup is not in consonance with the requirement of power during different times of the day. Like during daytime not much requirement is there as most of the people are at work, but in the evenings and in early morning hours there is need for more power. Through M2M this can be balanced perfectly. As if there are four generators then at the time of low power requirement only two will provide back up and the extra generators will automatically become functional if there is a power failure during peak hours.
Water can also be conserved by monitoring the moisture level of soil and by synchronising the sprinkler system with it. When the soil gets dry the sprinklers in an M2M system will make heavy sprinkling and less when the soil has moisture. So different functions can be pre programmed and give optimum results. “Through the M2M system the cost of electricity and water bills can be reduced significantly. There can be a saving of up to 30 per cent on electricity and water consumption through this”, says Abhay Kumar, MD, Grihapravesh Buildtech. The group that recently entered into a partnership with the Radius Group, has provided this technology in its upcoming project in Sector 77 in Noida and plans to extend it to all its projects in future. These systems are going to be very beneficial for the retail and commercial spaces where developers have to bear the cost of monthly maintenanace and common area expenses. As for the cost factor, according to Kumar an M2M compliant project attracts about 2 per cent extra cost than a normal one. The maintenance cost of the system is generally between
Rs 100 and Rs 150 per flat. “But provision of this system enhances the status of a project from mid-segment to luxury and tech savvy clients prefer these projects. We have had a very good response to this project so far”, he adds Though price is a major barrier for homebuyers as well as for developers at this stage, but the way in which technology is getting integrated into our lifestyles this trend of home automation and M2M systems is sure to add a new dimension to the realty scene in India. At what stage should one plan automation? It is highly recommended to go for home automation planning in the initial stage itself. *
A successful home automation project plan should include a series of detailed documents that will help to communicate the strategies that will enable both the client and the service provider to evaluate their progress at every step. These documents establish detailed expectations, accountability, and action items when issues arise so that they do not become problems. *
If automation planning is undertaken at later stages during construction,there can be problems due to the pre-installation of the wiring
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Rapid gains The Rapid Metro made its first journey to the Cyber City earlier this week, a month and a half after missing its October 2 deadline. The new metro will not only benefit commuters from Delhi going to offices in Gurgaon, but is also likely to improve realty fortunes in Gurgaon significantly, according to market experts. Since the already functional Metro line being operated by DMRC did not connect all areas in Gurgaon, the Rapid Metro will be a huge boon for people as it will cover a number of sectors. It will have six stations — Sikanderpur, DLF phase 2, Belvedere Towers, Gateway Tower, Moulsari Avenue and DLF 3. Market watchers opine that the consequent benefits of this connectivity factor will become apparent both in residential and commercial real estate in and around the areas falling in the Rapid Metro loop. While the Delhi-Gurgaon corridor had caused a steep increase in property prices, the private metro will impact commercial real estate in the area. Better connectivity after the Delhi Metro line became operational in Gurgaon had led to increase in property prices in the nearby areas. The prices in Heritage City project were around Rs 4,400 per sq ft when the Metro was launched in 2006, these jumped to Rs 4,800 per sq ft in 2007 and Rs 5,200 per sq ft in 2008 when construction was in full swing, the same project commanded a price of Rs 8,000 per sq ft when the Metro between Delhi and HUDA City Centre became operational. Developers plagued by rising inventories are pinning hopes on better connectivity promised by this metro link and are expecting sales to improve over the next few months. Transportation and connectivity being the biggest challenges in Gurgaon, the Rapid Metro is bound to turn things around, proving beneficial for consumers as well as developers. Many realty firms are coming up with projects along the Rapid Metro route. These include the joint venture of 3C Company and Orris Infrastructure — ‘Greenopolis’ — in Sector-89 Gurgaon and a series of projects by the Ramprastha Group. “Rapid Metro will not only make the life of people of Gurgaon much easier, it will also improve connectivity for those living in areas along Dwarka Expressway,” says Nikhi Jain, CEO of Ramprastha Group. “A project like the Metro Rail provides immense traction to all businesses located within the catchment area. Leasing activities in Cyber City will also receive a big boost by this development”, said one of the developers having an upcoming project in Gurgaon. Echoing similar sentiment Vidur Bharadwaj, Director, The 3C Company, says, “A project like the Metro Rail provides immense boost to all businesses located within the catchment area. Quick appreciation in the prices of real estate projects around the connecting zones of the Rapid Metro is a foregone conclusion and the impact is already being witnessed”. Leasing activities in Cyber City is also likely to receive a big boost. “After the second phase connects sectors 55 and 56, the residential prices in that area will witness an upsurge”, adds Bharadwaj. Though Gurgaon has been called India’s ‘Millennium City’, inefficient transportation and poor connectivity have remained its weak points. As a result of this the city residents had to spend more time in commuting to other areas of the NCR. “Gurgaon’s developers are doubly happy that while the Airport Metro may enter Gurgaon and the Rapid Metro may then join up to boost local connectivity,” informs Devinder Gupta of realty advisory Century 21. With rising public awareness about the impact of unsustainable practices, developers believe the spread of both the metros is a better alternative than merely augmenting the number of public transport services such as four-wheelers and two-wheelers, which would simply compound pollution and traffic problems within the region. However, it remains to be seen whether the prices will really appreciate in these areas as these have already touched saturation point in Gurgaon and the buyers are still in the wait and watch mode. Given the state of economy, it looks possibility that Rapid Metro may not fire the realty scene in Gurgaon.
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Rentals to remain under pressure Decline in supply of additional office space is likely to put pressure on rental values in the coming quarters, even as the demand is expected to be moderate, industry experts say. According to a report, less than 3 million sq ft of office space was added in July-September quarter, which is a decline of nearly 50 per cent compared to the same period in 2012, and 75 per cent compared to April-June quarter of 2013. “Owing to a slowdown in construction activity, pent up supply has been lined up across various micro-markets for release over the next 6-9 months, which might result in pressures on asset pricing,” CBRE South Asia Chairman and Managing Director Anshuman Magazine said. The demand for office space is likely to moderate or even be low in certain cities, mainly because corporates are now focusing on consolidation and relocation to quality locations with lower rentals. In Q3 2013, relocation and consolidation were primary demand generators for commercial office space, global consultancy firm Colliers International said in a report. During the quarter, six major cities — Mumbai, Delhi NCR, Bengaluru, Chennai, Kolkata and Pune recorded a cumulative rental space absorption of 6.2 million sq ft, which is 20 per cent less than 8 million sq ft year-ago. “The decreasing demand is a reflection of the prevailing low business and investor confidence. Due to the slowdown in the economy and the political uncertainty in the country, companies are deferring their decision to take up real estate,” Colliers’ Head of Research Amit Oberoi said. “Also a significantly large percentage of the uptake for office space is being generated due to companies relocating or consolidating their operations to a single larger but cheaper location,” he said.
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realty bites Unnati Fortune Group (UFG) bagged two prestigious awards for achievements in project development at this year's "Assocham Real Estate India: Excellence Awards" in New Delhi recently. While the group's latest commercial project, Unnati Fortune World was recognised as the "Best Emerging Corporate Hub"; the integrated community in Sector 119, Noida, The Aranya, received the top award for the first time in the category "Best Upcoming Quality Housing Project". Assocham awards is one of the industry's leading events to honour selected companies for showing best practices in different fields of the real estate sector. Indiareit raises
Rs 800 cr Pirmal Group’s real estate private equity firm Indiareit Fund Advisors has raised ~800 crore capital through a scheme. The company announced that ‘Domestic Scheme V’ has crossed the basic fund size of ~750 crore last week. The fund has exercised greenshoe option of ~250 crore in the wake of overwhelming demand and now it is targeting to raise ~1,000 crore. Indiareit Managing Director Khushru Jijina said, “This entire fund raise has been a testament to the strength our sponsor The Piramal Group”. Piramal Enterprises is one of largest diversified firms with presence in pharmaceutical, financial services and information management sectors. Pune realty firm ties up with Avenue Venture Pune-based Vastushodh Projects Ltd plans to raise ~40 crore through private equity (PE) funding to finance its ongoing real estate project. The company, constructing houses for middle and lower income groups, has tied up with Avenue
Venture Real Estate Fund, a Mumbai-based PE Fund, which has invested ~20 crore. “This is the first tranche of investment out of the total planned investments of ~40 crore,” Vastushodh Managing Director Sachin Kulkarni said in a statement in Mumbai. The company’s ‘AnandGram’ project is coming up on a 22 -acre plot on Pune-Solapur Highway. “This (funding) is indeed a welcome step and will provide a major boost to affordable housing segment, which was not getting the desired attention of PE investors so far. There is a big gap between demand and supply for houses in the range of ~5 to 30 lakh in urban Maharashtra and such funding can help reduce the gap with a greater pace,” he said. “We have launched two projects ‘AnandGram’ and ‘UrbanGram’ for lower and middle income group customers. AnandGram offers homes in the range of ~5 to 15 lakh and UrbanGram in ~15 to 30 lakh bracket,” added Kulkarni. The company has already completed construction of 1,700 housing units at multiple locations in and around Pune and is currently in the process of developing about 7.5 millions sq ft with over 13,000 units of affordable housing. — Agencies Low sales erode Omaxe net profit Realty firm Omaxe has reported 21 per cent decline in consolidated net profit at
Rs 18.15 crore on lower sales for the second quarter ended September 30, 2013-14 fiscal. It had posted net profit of
Rs 22.98 crore in the July- September quarter of the previous fiscal, 2012-13. Total income from operations fell by 21 per cent to
Rs 365.45 crore in Q2, 2013-14, as against Rs 461.64 crore in the year-ago period, Omaxe said in a filing to the BSE. Omaxe has presence in 30 cities across 9 states. With about 84 million sq ft of delivered space in both real estate and construction contracts, the company is developing 41 real estate projects — 13 Group Housing, 19 Townships, 9 commercial projects.
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at home with fENG SHUi In human beings, Ch’i is the spirit or the vital force that drives the body the way we appear, act, move or talk. It is the Ch’i that makes every organ of the body work. Human Ch’i can be enhanced by creating a healthy environment through Feng-Shui. The Ch’i of a house affects its occupants. The basic cures are the methods that are commonly used by Feng-Shui practitioners to help stimulate and lift the Ch’i energy of a building. There are some basic remedies to alter, moderate or raise Ch’i both inside and outside a building. These cures can meet a number of needs to resolve imbalances by improving Ch’i circulation. Some of these are: Crystals have long been considered batteries of nature. In Feng-Shui they become symbolic sources of power and energy. When placed or hung in front of windows, they attract more natural light and energy and disperse it throughout the room thereby providing farsightedness to the occupants and improving their lives. Lights Lights are powerful Feng-Shui cure outside a building. If installed properly outside an L-shaped structure, these can square off the missing corner. Light installed at the lowest point of the plot can check the outflow of Ch’i and money. Inside, light is Yang energy, as it can create a lot of activity in the room. Yang energy can be activated by installing bright spotlights. Bedrooms need more of Yin, therefore, subdued surroundings are created. Rooms for rest and play should have a balance of light and shade. Installing a dimmer switch in such rooms will enable you to adjust the level of lighting according to the level of activity in the room. Sound While light is a visible manifestation of energy, sound is an auditory manifestation of the same energy. Sound vibrations have an effect on Ch’i around them. The rasping, coarse or greeting sound badly disturbs the regular flow of positive energy, whereas clear, simple and sweet sounds stimulate Ch’i. Wind chimes have the desired effect of stimulating Ch’i beneficially. Wind chimes or bells can be hung in any area of home or office to stimulate Ch’i for the respective positive results. Position the wind chimes to stimulate the area that is most important in your life. When hung near the entrance, they also act as warning alarms. Living objects Having plants, flowers, fish bowls or aquariums, well looked after plants in or around the homes is one of the easiest ways of generating good Ch’i. However, unhealthy plants or dead leaves symbolise decay and bring bad Ch’i into the home. If you don’t have a green thumb then artificial plants can serve the purpose effectively. Plants with angular or spiky leaves encourage Yang energy and plants with smooth or mix rounded leaves contribute to Yin energy. A Yang plant placed in southern direction will bring in wealth and creativity, whereas a Yin plant in western section will encourage better family relationships. Plants can also resolve design imbalances. Another way of bringing life into your home is to place a fish bowl or aquarium in it. Healthy fish with clean and bubbling aquarium will release a good Ch’i into a room. Fish are used to absorb accidents and general bad luck. Therefore, the dead fish should replaced immediately. Flutes Flutes have symbolic and religious meanings. In China, bamboo flutes symbolise peace and good news. To moderate the oppressive effect of the beam, two flutes with red ribbon can be hung on the beam in slanting positions so as to create a partial Ba-gua formation. Flutes symbolise swords and are hung in homes and business places to drive away evil spirits and become protective. Mirrors, the so called Aspirin of Feng-Shui, cure a host of interior and exterior Feng-Shui woes. Outside they repel the evil Ch’i and provide protection to the inmates. If there is a road right in front of the home, then hang a mirror above the door. When used inside a building, these serve many purposes. Mirror tiles that distort the image should be avoided. Mirrors can balance a room which has an irregular shape. If hung in front of window, they can reflect the image of nature and generate beneficial Ch’i in a room.
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off the shelf The relationship that the modern, independent and style conscious woman of today has with her kitchen is very unique. She is no longer bound to it by traditions, the burden of patriarchal expectations or a sense of womanly duty. She is also not averse to being in the kitchen as she does not see this as a threat to her independence. Convenience rules Exquisite technology that looks splendid and is spectacular in terms of convenience is finding the maximum number of users today. Fittings that look great but are also excellent in terms of ease of use, installation and space-saving capacity, are becoming increasingly popular in Indian households. New collections of inventive kitchen faucets for domestic use target women who can do with some assistance while managing their daily kitchen chores. Conserving with style Water storage is another area where kitchen fitting brands are making great headway. As a woman builds her own universe, she aims to be socially conscious and also teach those in her family to be environmentally responsible. This can be achieved only if she demonstrates similar qualities in the kitchen herself. Many top brands are engaging in building products that lead to minimum wastage of water while ensuring a good, uninterrupted flow as this is a pre-requisite for kitchen chores. A poor quality faucet with limited pressure will simply not do for a multi-tasking, busy homemaker of today. Faucets with an extendible spray or stylishly shaped spouts with extendible mousseurs are thus becoming very popular. The levers deliver a perfect flow of water and adjust water flow and temperature precisely. Such simple, yet intelligent fittings can make any kitchen look sophisticated and beautiful, while maintaining functionality which is very important in this space. Indian kitchen designs nowadays complement the needs of households where the height of the work platform and placement of the units are made keeping in mind the average height of an Indian woman, Indian cooking habits and cooking procedures. Storage space Cabinets are also now specifically designed to provide storage for specific Indian kitchenware, a variety of ingredients, spices and containers that any ordinary Indian kitchen will have. Smart accessories Besides this, since Indian cooking involves a lot of high-heat cooking, deep frying, pressure cooking etc, premium kitchen accessories manufacturers are also making it a point to introduce technology that reduces the effects of spillage and facilitates removal of oil and water stains. Most high-end brands are ensuring that their kitchen accessories and products are ergonomically designed to increase the comfort factor. Child-proof accessories and fittings are also gaining traction. Anything that rules out harm to the little one and rules out the risk of scalding is sure to win favour. Those who prefer warm water can opt for upgrades which feature a customisable temperature preset function. The main idea is that no woman wants to feel like she is slogging in the kitchen anymore. She needs to feel pampered with products that make her feel that her convenience has been thought about and looked after. Such fittings, accessories and technologies ensure that this objective is achieved. The kitchen is no longer a space which a woman enters because she must. She chooses to be here and cook because either she finds this activity therapeutic or she enjoys it as a hobby or she revels in it as a means to show her family how much she loves them. This means she demands a space which is equipped with fittings that exude high comfort, splendour in style and facility in usage. Anything short of pure luxury combined with high functionality will find no place in her haven of creativity and love.
The writer is MD, Grohe India Pvt. Ltd. Brands, which are sensitive to the need of a woman to combine daily tasks with a clean and ever-elegant work space, are innovating to come up with products that minimalise the need to touch faucets while cooking. Just because one’s hands are dirty, doesn’t mean the fittings should end up being dirty as well. This is ensured by the use of touch-sensitive faucets that can be operated just by a tap on the body of the faucet or by placing one’s hands under the spout. Such hybrid fittings ensure everyday convenience that is coupled with beauty and style that make the stylish homemaker feel content with her environs.
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GROUND REALTY However, situation has changes a lot now. Spending capacity of the people has increased and so has the insatiable desire to make the house look unique and beautiful. Sliding bolts are no more provided on the external doors. These have been replaced by mortise and ultra locks. Each lock has a separate key. The external doors, the internal doors, wash room doors, sliding doors and the main door - all have different kinds of locks. Let's have a look at the present trend: Internal doors: Internal doors of the house are provided with mortise cylinder latch locks. The handles and plates of these locks are chromium plated and these are available in a wide range. The advantage of providing these locks on the internal doors is that with these one doesn't need to provide handles on both sides of the door. The lock lever acts as a handle. These locks can be operated with a key from both sides i.e. from inside as well as outside of the room. Otherwise, these can be locked with a key from the outside and with a twist of knob from the inside. Though it is easier to operate a knob from the inside to lock or unlock a door, the disadvantage of using of knob is that even a child can rotate it and lock oneself in a room. Washroom doors:
Washroom doors are provided with mortise latches only. There is no locking bolt arrangement in them. So tower bolts need to be provided inside the washroom to lock the door. Mortise latches help in avoiding provision of handles and thus save the cost of handles. These match the mortise cylinder latch bolts in appearance. Only difference in their case is the absence of locking bolt arrangement in them. Certain architects advocate provision of latch-bolt locks instead of simple latches on the washroom doors. The reason for this is the safety of the house. All washrooms have an external wall and a window in it. It has been noted that burglars usually break into homes through this route as washrooms provide the easiest entry to a house because no lock is provided on the washroom doors. Cupboards: Cupboards of the house are also provided with mortise dead locks or cupboard locks wherever required. Most of the cupboards are not provided with any bolts. Hydraulic hinges or magnetic catchers keep the shutters closed. However, if some house owner wants to keep a cupboard locked, he may choose one or two out of many in the house, for providing locking arrangement. Sometimes, a drawer provided inside a cupboard is also to be kept locked. Such drawers are also provided with particularly available drawer locks or dead locks. CP keyholes should be fixed on the cupboard locks also. Main door: The main door of the house is usually bigger in size and provided with double doors. Double doors should be provided with ultra locking systems. These locks are lockable both from inside as well as outside. Manufacturers reckon these locks as the most advanced security locks today. Wire mesh doors at the main door are often avoided by the house owners. But if these are there then they should also have ultra locks for double security. More facts about ultra locking systems: Ultra locking systems are provided with ultra keys. These keys can't be duplicated. The keys are reversible and can be inserted with any side up. These keys have multiple rows of pin depressions in them. Each lock is provided with a set of 4 to 5 keys. Installation of these locks has to be done carefully for their correct operation. Therefore, reputed companies offer their free installation in wooden doors. A guarantee of 10 to 15 years is often provided for such locks. Whenever a number of ultra locks are used in a house, the manufacturers arrange to provide a master key for all the ultra locks in addition to the normally provided keys. Tower bolts on main
door: Double doors on the main entrance when provided with ultra locks, should further be provided with tower bolts on the inside, both at the top as well as bottom. Double doors, even if locked with ultra locks, have quite large play whenever tower bolts are not provided and bolted. In case ultra locks are not of good quality, these may even give way under pressure and allow opening of the doors. While leaving the house, one should bolt one shutter from the inside by operating the top and bottom tower bolts and then lock the door from outside. Sliding doors:
Sliding doors are increasingly becoming popular with the people and are used at locations where an open shutter intrudes the passage or looks odd. Often, walk in closets are provided with sliding doors. Such doors should be made lockable by providing special sliding door locks. These locks have a hook bolt in them and are without handles. These are operational from both sides and provided with CP keyhole covers over the keyholes.
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Vaastu Wisdom Q. In reply to one of the queries published in this column, you had stated that south-facing homes may lead to health problems for female members of the family. We have a south-facing home. As not many alterations can be made to the construction of the house, what measures, in general, can/should be taken to ward off the ill effects of a south-facing home? — Kishen Verma In case of South-West facing homes, Rahu reportedly controls the luck. Installing RahuYantra minimises the problems. In all south-facing dwellings, a silver tape buried under tiles or floor on all entrances and exits is the best remedy. Secondly, installing a statue of red coloured monkey made of stone or marble on the very entry point is another very popular and successful remedy.
Q .What are things to be kept in mind for a square-shaped house (corner-plot) with one side facing east-south direction and the other south-west? — S. Singh A. This shape (with all angles of 90 degrees) is auspicious. It leads to success in all fields and promotes growth. Such plots offer good fortune to owner. * Southeast is owned by Agni. The representative planet for this direction is Shukra. * Southwest: This direction is owned by a demon called Nirti. The corresponding planet for southwest is Rahu. This is the strongest direction in the plot as it shows magnetic energies flowing from northeast. Right use of southwest gives a strong and healthy life. It can give you confidence, wealth and health. Southwest can give you name and fame. If the southwest portion is the highest in your building then that means your happiness and self-esteem will remain high. In nutshell, this is a good location. vaastu@tribunemail.com
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How can I compute capital gain? S. C. Vasudeva email your queries to realestate@tribunemail.com Q. I had purchased a plot in 1980 for Rs 10 lakh. I am now being offered Rs 10 crore for the same plot. Out of this, I shall have to pay Rs 10,00,000 as development charges, though the area is only partially developed. How do I compute my capital gain? Can I make use of the sale proceeds to construct another storey on my house? — Dharambir A. In accordance with the provisions of Section 48 of the Act, the cost of capital asset (the plot), which was acquired before April 1, 1981 is equal to the fair market value of the asset as on April 1, 1981. To get tax benefit on the capital gain earned on the sale of a plot, you can utilise the amount for the construction of a new residential house. The construction must be completed within three years after the date of the transfer of the plot. Also, the new house must be an independent one. This means that it should be used and transferable as a residential house independent of the existing ground floor.
What is the tax liability on rental income in India? Q. I am an Indian citizen I had gone abroad a few years ago and am working in Australia at present. I have inherited a house in India which has been let out. Please let me know if I have any tax liability in respect of the rent so received in India. I understand that the income earned in Australia is not taxable in India. Is that correct? — Rajiv Singh A. The answer to your queries is as under: Gross rent received = X Less House Tax paid = Y X - Y = A Less 30% of A Say B A - B = C (Taxable Income from House Property) *
The income earned in Australia would not be taxable in India. In case income in Australia is taxable on world income basis the above income would be included in your world income for taxability in Australia. You should, however, be entitled to relief under Double Taxation Avoidance Agreement in respect of the tax paid in India. Do we have to pay tax on insurance claim amount?
A. The amount of gain or loss on account of fire shall be computed as under in view of the provisions of Section 45 (IA) of the Act. It is provided in the said Section that any amount received from an insurer on account of damage or destruction of any capital asset due to fire etc; shall be deemed to be full value of consideration received or accruing as a result of transfer of such capital asset and any profit or gain arising for receipt of such money shall be chargeable to income tax under the head ‘Capital gains’.
Sale of agri land within city limits Q. I own five acres of agricultural land within the city limits of Palwal. The land had been purchased in 1982 for approximately ~5 lakh and has been used for cultivation for the past several years. The land was sold in October, 2012 and in November, 2012 I utilised the sale proceeds for purchasing some agricultural land beyond 20 km of the city limits of Palwal. Am I entitled to claim exemption in respect of the amount of capital gain arising on the sale of land within the city limits? — Jagjit Singh *
The taxpayer is an individual or a HUF. (The applicability of the benefit to HUF has been granted from the assessment year 2013-14). *
The agricultural land was used by the taxpayer himself or his parent for agricultural purposes for a period of two years immediately preceding the date of transfer. *
The taxpayer has purchased another land for being used for agricultural purposes by utilising the amount of capital gain within a period of two years after the date of such transfer. On the basis of the facts given in the query it is evident that the agricultural land had been used by you for agricultural purposes in the preceding two years immediately and after the transfer of such land another land for being used for agricultural purposes has been purchased by you by utilising the sale proceeds. The capital gain arising on the transfer of land within the city limits of Palwal should, therefore, not be chargeable to tax as you comply with the requirements of Section 54B of the Act.
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Wrong address in Will B K Sanghi ... Q.We are three brothers and two sisters. My father has made a Will leaving two ancestral houses in the name of my brother and me. But in the Will he has mentioned wrong house numbers. How can we set this right while getting the property transferred in our names in the MC records? Is any kind of registered affidavit acceptable for this? We live in Haryana. — J.H.Sharma A. A Will is a legal declaration through which a person — the testator — names one or more persons to manage his or her estate and provides for the distribution of his property after his death. There is no scope of correction while transferring your property on the basis of Will. You should try to satisfy the terms and conditions of the competent authority for clear and transparent title. If they agree with your affidavit then it is ok otherwise you should seek a judicial remedy.
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The overall sentiment in the realty market may be pessimistic, but this has not obturated the introduction of new trends and attractions for homebuyers.
While locality and price have always been the most important considerations, comfort and security, too, are among the key deciding factors for homebuyers. Seeing a marked preference for this, a large number of residential projects are now being equipped not only with state-of-the-art home automation systems, but integrated building management systems
(IBMS) and machine to machine (M2M) compliance.
“Home automation in India has come of age, and today most of the large buildings are going for automated homes. We are seeing a huge traction and the size of the market is growing exponentially”, says C.P. Singh, Founder and Chief Mentor, SMART Automation. All large players like L&T, Schneider etc are spending Rs 20 to 30 crore only on home automation products and this doesn't include lighting systems and security systems, adds Singh whose company has executed over 40 projects in the past two years. “The way this is becoming popular, we can see a 30 to 40 per year-on-year growth in this sector over the next year”, says Singh.
The expanding footprint of technology in homes has economic as well as social triggers. Increase in the number of nuclear families where both husband and wife are working and hence staying away from home for long hours has led to the need to stay in touch with children and the elderly back at home. 
Enhanced energy
efficiency: Energy efficiency is the foremost benefit of using automation systems. The use of energy saver lighting system such as LED, HVAC and solar lighting systems are preferred, which also fit perfect in the standards of stylish living. 
In the first phase, it will cover a stretch of approximately 5 km. The first phase loop will connect Cyber City with Sikanderpur Metro Station. The second phase will connect the Sikanderpur Metro Station and the densely populated sectors 55 and 56 as well as the Golf Course Road, which is one of the major hubs of commercial and residential real estate development in Gurgaon. 
Ch’i (pronounced as Chee), is an important factor In Feng-Shui. Ch’i means cosmic breath or energy.
Crystals
Mirrors
She has negotiated her relationship with the kitchen as a space where she likes to indulge in an activity that she loves, as a place that allows her to fulfill her innate desire to nurture without tying her down, a place where she plays with ingredients, throws in her imagination, experiments and creates something that reflects who she is. The modern kitchen, therefore, is now not just functional but is also sophisticated and sensuous. It is a beautiful extension of the elegant person who defines and works in this space.
Kitchen designs, faucets and fittings are undergoing a tremendous change in style, aesthetics, utility and durability to keep up with the desires/expectations of women who use this space the most. 
There were times when simple sliding bolts called aldrops used to be provided on the external doors of the house. The main door used to have a stronger one to lock it securely. All the inner doors of the house usually had the tower bolts only. Cupboards were provided with hasp and staples. The arrangement went well as these locks were easy to operate and just one key of the main door lock had to be taken care of and stored safely.
External doors: External doors, except the main door, should be provided with mortise dead locks instead of mortise latch locks. Mortise dead locks don't have any levers. Therefore, handles are needed to be provided on the inside and outside faces of such door shutters that are provided with dead locks. Mortise dead locks are safer and can be operated with a key only. These locks demand provision of CP or brass key holes to cover the holes driven in the doors by the carpenter. Just a key hole of these locks is visible.
Ultra locks with
knobs: An option available in ultra locks is to provide such locks on the main door operational with a key from outside but a knob from the inside. Availability of a knob on the inside helps in much easier use of main door shutters as main doors are the ones that are locked and unlocked frequently. Take example of a member of the house leaving the house for an early morning walk while others are asleep and he locks the main door from outside. When other members of the house wake up, they need not look for the key but simply operate the knob to unlock the main door.
A. In case of south and east facing houses besides health problems of women, financial difficulties, relationship unstability, pain in lower limbs etc can arise sometimes. One can install ShukraYantra or Vaastu Dosh Niwarak Yantra on the entrance
to reduce the ill effects of wrong direction. The glass panes can be darkened with film. Fix pictures of idols on both the walls of entrance.
So, while computing capital gain, this becomes the cost of the capital asset, which has to be further increased as per the Cost Inflation Index (CII) that is notified by the government every year. The CII for the year 2013-14 is 939. So, get the value of your plot, as on April 1, 1981, ascertained by an approved valuer. Obtain a certificate to establish the fair market value as on that date. The said fair market value, as on April 1, 1981, may be multiplied with the CII and divided by 100 to arrive at the amount deductible from the sale proceeds. The balance amount would be the amount of capital gain on the plot.
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The income earned in India in respect of the rent received from a house property is taxable in India. Presuming that you are not a senior citizen, in your case the maximum amount not chargeable to tax for assessment year 2014-15 is ~2 lakh. Therefore, in case the net income from property exceeds the above amount, you will be liable to file the income-tax return and pay the tax thereon. The net income from property would be computed in the following manner:
Q. Ours is a partnership concern which is manufacturing industrial fasteners. It is small scale unit based in Gurgaon. We have two factories. In one of the factories Plant and Machinery costing about Rs 5 lakh had been installed earlier. Its Block value as on March 31, 2013 was Rs 2,40,000. New Plant and Machinery had been installed in April this year valued at Rs 1,20,000 which was put into use on the day it was installed. There was a fire in this factory in September, 2013. We had taken an insurance policy to cover the risk of fire etc in respect of the building and plant and machinery. Both the factories were covered by insurance. The entire plant and machinery has been destroyed in this factory and the insurance company is looking into the claim papers. The surveyor has given his report and we are likely to get a claim amount of Rs 3 lakh only. We have been told that any amount received in excess of the loss is chargeable to tax under head short-term capital gain. Is it correct? What would be position as far as the capital gain/loss is concerned in our case. —
O.P. Goel
A. Section 54B of the Act provides that in case short-term or long-term capital gain arises on the transfer of agricultural land, same will not be taxable provided the following conditions are satisfied: