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area watch: dehradun
Poll arithmetic of realty gains Ground Realty vaastu wisdom Launch pad
project watch
realty bites tax tips
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area watch: dehradun
From offering a dream house in verdant valleys to a house that allows a daily dip in the Ganges, Uttarakhand has always been among the top destinations on buyers’ wish list and the property market has witnessed a dream run in the past. But the recent spate of natural calamities in the state coupled with an overall slowdown in the real estate sector had badly hit property fortunes in this hill state, especialy in 2013.
According to market watchers there has been an overall slump of 35 per cent in the property market and very few buyers are in the market despite the launch of several new projects in the state. “Property transactions have taken a hit due to the general slowdown that has been witnessed throughout the country and our studies have placed Uttarakhand among the nine states where the property business had taken a hit due to various factors,” says D.S Rawat, National Secretary of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) . The devastating floods last year in the higher regions of the state have, however, led to mass scale migration of people from these regions to the lower pockets in the state. With the number of people keen on settling down in Dehradun and the adjoining areas of Rishikesh and Haridwar and Udham Singh Nagar rising, the demand for housing has seen an upward trend over the past few months. In Uttarakhand buying is mostly restricted to domicile holders. Flats or apartments are largely free of such restrictions. Destinations and trends The local demand is being fulfilled by local developers who are quick to understand the needs of the customers. In the last year alone in capital Dehradun around 50 housing projects have been sanctioned and most of these are located around Sahastradhara falls and Rajpur Road. “Dehradun is a vibrant real estate market. It is a traditional end-user market, and this presents investment opportunities in the realty sector which have not been tapped thoroughly”, says Nazia Izuddin, President of S.N Group that is coming up with two luxury housing projects— Aures Valley in Dehradun and Kervan Hills in Mussoorie foothills. Theme based townships is the latest trend that is catching up in the state, especially in Dehradun. The Max India group launched a senior living project Antara in Purukul (Dehradun) in 2013. Spread over 20 acres Antara encompasses a dedicated health and wellness centre with 218 apartments for the affluent senior citizens to be handed over in 2016 based on an innovative lease model. “This is an initiative dedicated to caring for the elderly by taking care of their day to day health, safety and recreational needs,” said Kenneth Sannoo, Director Community Development, Antara Senior Living. With independent apartments ranging between 1500 sq ft to 7000 sq ft fulfilling the disability standards of USA and priced between ~1.4 crore-~5 crore, the company’s target is the affluent citizens who would like to lead a certain lifestyle under a caring environment. Gathering momentum The prices of commercial and residential properties in Dehradun and Mussoorie have already shot up with big players like Parsvnath, Ansals and DLF looking for land parcels in these tourist attractions. There are several factors that make Dehradun attractive for a real estate investor or end user. The city’s distance from Delhi, and surrounding areas such as Gurgaon and Noida, is the shortest when compared to that of any other hill state. Earlier, Dehradun used to be a preferred destination for those wanting to settle after retirement or for children’s education in North India. But now the city is increasingly becoming a destination for the young employed due to the availability of other job opportunities and entrepreneurship in tourism related projects. This has also changed the profile of properties in demand here now. Villas are available now only in limited numbers and at a premium while apartments are gaining popularity. The demand for rental accommodation is also high. “In the coming year, rental demands will increase and rental income on properties will also increase”, adds Nazia. To satiate the desire of the customers, litchi orchards are being cut on a regular basis giving way to multi storeyed buildings in several places in Dehradun. In the Dalanwala area, more than five multi-storeyed structures have come up and more are being planned. This demand has kept prices competitive. In Banjarwala, Premnagar and THDC (Rishikesh) the priceof plots has escalated, “A plot measuring 200 sq yd whose cost was pegged around ~10 lakh, till a few years ago, has now risen to ~25 lakh,” said Umesh Agarwal, a local property dealer. “The price appreciation has been quite steep. To top it even the construction costs are high due to the rising cost of material,” said Anil Sharma, Project Head (Dehradun) Supertech that will soon start work on it’s Doon Square Housing project in the Sahastradhara area. “Increasing economic opportunity has led to a larger influx of end users to Dehradun in the past decade. Land is limited in Dehradun due to large reserve pockets and forest areas because of this, real estate prices are on a constant rise. Gated communities catering to lifestyle centric holistic community living is a trend that is picking up and emerging at a large level in Dehradun”, says Nazia. The experts forsee some movement and momentum in the property market after the elections.
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Poll arithmetic of realty gains
There is no doubt that the actions and inactions ascribable to the current government have given ample anxious moments to homebuyers and developers. The next government’s economic and employment policies will be key drivers to growth in the real estate sector for the next five years. 2012 and 2013 were not the best years for the Indian realty market, and the slowdown impacted all asset classes, except in a few pockets. Revival is, no doubt, the need of the hour. Realty after elections With just a few weeks to go before the world’s largest democracy chooses its new government, fence-sitting investors and homebuyers will remain spectators for that period and make their moves. Many assume that property prices will shoot up post elections, but this expectation is unfounded as too many factors are at play, regardless of which party wins. Election results do not make or break a market, but they do affect market sentiments to a significant degree. Over the last few quarters, political uncertainty has significantly weakened buyer confidence in many regions. A decisive win for any of the alliances will uplift homebuyer sentiment and the property market will see a return of buyer demand due to the reinstatement of confidence. Post elections, if the road to recovery is unhindered, property buyers may very well re-enter the market in good numbers. Great expectations Political uncertainty certainly has a tangible effect on the Indian real estate market, and it is not easy to separate political uncertainty from broader economic factors such as job creation and interest rates. A better vision on infrastructure will help make the market more buoyant. New infrastructure initiatives have a tendency to boost pricing of residential property in the immediate vicinity. The manifesto of one of the parties in the electoral fray mentions several initiatives in the infrastructure space, with an intended spend and spending $1 trillion on upgrading India’s infrastructure over the next decade. It also commits to significant expansion of and improvement in the Indian Railway network, including covering cities with a population of million plus by high-speed rail. The manifesto also mentions upgrading the infrastructure of the port sector, developing inland waterways to strengthen infrastructure and encouraging public private partnership for the creation of world-class airports. The manifesto of this party’s strongest opponent has a lot to live up to. Considering the disdain with which it dismissed the opposing party’s manifesto, what the real estate sector would expect from this party is a dedicated focus on housing and infrastructure investment, given its vision of a 12 per cent GDP growth rate. The key factors currently at play in the Indian real estate sector are unsold inventory, absorption and interest rates. It is unlikely that these factors will change immediately post polls, regardless of which party wins. Over the longer term, what will matter most to the real estate sector are a hard relook at FDI in housing, REIT legislations and the effective implementation of the Real Estate (Regulation and Development) Bill. The Reserve Bank of India will play a key role in the post-election scenario, be it in bringing down the interest rates for home purchase, or allowing flexibility to reintroduce subvention schemes, or restructuring debt for debt-ridden developers. The RBI’s role in deciding whether to ease lending rates in order to make it easier for more people to qualify for a loan and magnitude of down payment needed to buy a home will also impact the real estate market. Undoubtedly, a new stable government will boost businesses and ignite investor confidence. However, the real impact of any changes will not reflect in the economy for at least another one year, and the effectiveness of any new initiative is something that only the future can tell. A combination of bottomed-out property prices, low interest rates and a return of buyer confidence can create the perfect environment for recovery — and even a bull run. If the incoming government is able to keep interest rates low and employment generation high, it will provide a platform for a far more stable and investment-friendly real estate market. —
The writer is COO – Business, JLL India Cash crunch ahead of elections In India, the property market is a key election financier, and considerable amounts of unaccounted money are generally pumped out from the real estate sector to fund the elections. Before the polls, developers are expected to provide liquidity to politicians so as to finance their campaigns. Many developers who are funding possible candidates are delaying their projects due to the lack of liquidity. The timing is certainly bad. Reduced housing absorption has already adversely impacted developers’ liquidity and in turn, their funding ability. Political commentators also note that certain properties are sold below market rates in order to generate cash for the election campaigns. Given this situation, many developers cut down on new launches and focus solely on selling the existing inventory.
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The art of personal touch Bhawna Jaimini ...
The duplex apartment of artistically endowed couple Debashish and Mahua Gupta is situated in Bengali-community dominated Chittranjan Park area in New Delhi. The house has been designed by them and got so much involved in the process that they had to halt all other activities in their lives while the construction was going on. Mahua recalls, “We used to pack our lunch in the morning and station ourselves at the site all day long. each and every detail in the house was important for us and we made sure that no aspect was ignored.” Art has been the focus as well as the connecting thread in the lives of this couple and this is what is reflected amply in their home also. After years of globetrotting and living in different cities in different countries as a professional, Debashish now works with Infosys . Though he always wanted to be an artist, he pursued a career in commerce after failing to get into the Lalit Kala Academy. “I left painting for years at end and then one fine day I picked up the colours because Mahua wanted me to paint something for her and I have not stopped since then”, Debashish adds. The house displays most of his works. Mahua is an artist who used to hand paint sarees. She had worked with leading designers like Ritu Beri and Tarun Tahiliani and is now a full-time interior designer. Speaking on this career change, she says, “I discovered my passion for interiors while doing my own house and took up more projects later on.” Spatial quality The couple hired an architect initially but decided to do things their own way later on. “We wanted full freedom to execute and develop our spaces,” explains Debashish while adding, “after living in so many countries for years, I had so many ideas that it made no sense in trying to communicate these to a third person. We hired a contractor, carpenter and a painter and worked with all of them on the site itself.” Their spacious 5-bedroom apartment has been designed to cater to all the members of the family, including Debashish’s parents and their 10-year-old son. The guest bedroom and the parents’ bedroom along with the drawing and dining are kept on the lower floor, while the TV lounge and rest of the bedrooms are on the upper floor. The drawing-cum-dining space is attached to an open kitchen and connected with two bedrooms on ground floor with a vestibule. A wooden staircase connects the upper and lower floor and opens into the TV lounge and small library which also doubles up as Debashish’s studio on weekends. Decor Among the couple, Debashish is fond of bright colours while Mahua likes neutral and dull shades and due their opposite tastes, the decor is balanced between bright and dull. The palette has been kept in shades of mauve and off white and walls are adorned with paintings and sketches made by Debashish. He usually paints on weekends and plans to have an exhibition in one or two years and plan to give up the corporate world completely to pursue his artistic ambitions. The furniture pieces that have mostly been designed by the couple themselves are not only exclusive but also accentuate the design ambience of the interiors. Mahua says that after wasting days to find the right kind of furniture within their budget, they decided to sit with the carpenter and design everything themselves. The quirky bamboo sofa set in the drawing room is also custom made — by a bamboo furniture manufacturer in Delhi. Their experiments with design were not all smooth as they also had a few goof ups in the process like the dining table ended up being twice as heavy than a normal one. Lighting and ventilation The couple has put in extra effort in devising the lighting for the house. In the daytime, the dependence on artificial lighting is almost zero as rooms get enough natural daylight throughout the day. The drawing room is abutted by a huge floor to ceiling glass opening that brings in diffused daylight. But at night the house has provision for lighting according to the mood of the inhabitants — from sombre to bright. The couple has added a very interesting feature to help the circulation of air in the house and keep it well ventilated. Instead of using solid flush doors, they have punctured the door with wooden blinds which lets the air flow without compromising the privacy. FThe journey continues The couple had initially wanted a terrace garden in the house but the whole process of building the house and doing everything on their own exhausted them so much that they postponed the plan. But Debashish is keen on having it and will soon start work on it. They also have the ground and first floor with them which they have rented commercially for some time and may convert it into an interiors’ showroom in the years to come.
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Checks to create chrome magic Jagvir Goyal The use of chromium plated bath and kitchen fittings in houses has become a universal phenomenon now. Chromium plated fittings, popularly called as CP fittings are being increasingly chosen by the house builders. These fittings keep shining for years together if maintained properly and lend a touch of class and luxury to washrooms and kitchens. Here are certain essential points that should be kept in mind to keep these glistening and hassle free: Essential CP fittings: These days a number of bathrooms are planned in every house and each bathroom essentially has overhead shower, taps, diverters, wash basin mixers or pillar cocks, bib cocks with or without long body, stop cocks, some angular cocks, the bottle traps, cistern wall plates for concealed cisterns, CP wastes for wash basins, soap dishes, towel rails or rings and wash basin shelves. Kitchen has provision of regular taps over the sink or the sink cocks with swinging spouts. All these items are produced in chromium plated brass. The shelves and towel rails may sometimes be in acrylic. However, a majority of house builders choose chromium plated towel rails while glass shelves supported on CP brackets are preferred to acrylic shelves. Optional CP fittings: In addition to essential CP fittings, some optional items are also added by the house builders to the bathrooms for convenience and to have a lavish look. These optional items include telephonic or hand showers, health showers attached to the seat, toilet paper holders, towel racks with single or multiple shelves, soap dispensers, tumbler holders and bath tub spouts in case a bath tub is provided in the bathrooms. All these items are also chromium plated. Make: For easy maintenance of CP fittings, it is essential that the fittings chosen are manufactured by a reputed manufacturer. Reputed manufacturers don't compromise on the quality of CP fittings and make these undergo many tests. The copper component in fittings is kept around 60 per cent and the zinc component around 39 per cent. The dimensions are maintained accurately and the furnaces used to cast the fittings are chosen as high temperature furnaces by them. Tests: Reputed manufacturers make the fittings undergo prescribed tests before these are passed by their QC cell for sale. The fittings are made to clear the high pressure leakage tests successfully. The valves and cartridges are made to undergo life cycle tests, the number of cycles touching even 5 lakh. Buyers can always ask for the test clearance certificate of fittings from the dealer before finalising the deal. Thus, as a first step towards easy maintenance of CP fittings, one should always choose fittings of reputed companies only. Regular maintenance:
Most important step for the maintenance of CP fittings is to wipe them clean with a soft dry cloth every morning after use. The rag used shouldn't cause any scratches on the fittings. Clean these with soapy solution every fortnight. This will remove any scale or stains on them. Let the soap be your bathing soap only. Don't use strong detergents. This should be followed religiously. Never apply any acid solution on these fittings. Diverters:
Diverters are provided in the bathrooms these days to have an optimum mix of hot and cold water and further to switch the water supply to the overhead shower or the spout as required. Due to their consistent use, these diverters become hard to rotate over a period of time. Never fiddle with the diverters nor apply extra force to rotate them. Instead, call the local service personnel of the company who will remove the CP part of diverters, clean and grease them well and the rotation will again be as smooth as silk. This job hardly consumes any time but should be got done from an authorised plumber only. Overhead showers: The showers have a number of very small holes to deliver water in spray form. Often, these holes get clogged by the salts present in water. Choose showers that have rubber openings provided in the holes. Cleaning such showers of salts clogging the holes is easy. Just rub your fingers on the rubberized holes for sometime while the shower is in running condition and all holes will be reopened. In case a long time has elapsed since the cleaning of shower, you may get it unscrewed and then clean its holes with a brush. After sales service: Always buy CP fittings from a company that has a long-term base in India and provides excellent after sales service. Always take bills and keep them safely as these documents will be required during service of these costly items. Ignoring the bills just to save VAT is not a wise idea as in that case you can't ask the company to provide after sales service. —This column is published fortnightly
All branded taps, spouts and faucets are provided with aerators these days. These convert the water flow into a beautiful foam flow. The aerators need cleaning at regular intervals. Otherwise their fine mesh gets clogged. So clean the aerators every fortnight. Do it bathroom to bathroom and it hardly takes time. Earlier, a key used to be required to remove the aerators. These days, no key is required and you can remove them just by rotating them in anticlockwise direction with your fingers.
Chromium thickness
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A touch of glass Madan Gupta Spatu ... Q. Will the use of stained glasses inside the home in bedroom or in kitchen lead to energy imbalance or sreate a Vaastu dosha? — Vijay Gupta Chandeliers made from beveled pieces of stained glass can be used to a create colorful effect in dining room. Stained glass panels are also used as drawer fronts or cabinet fronts entwined within shelves in nicely decorated offices. Stained glass items thus offer an opportunity to create matchless décor with various colours, themes and artworks. You can make your house beautiful by using stained glass in any form, and according to Vaastu principles, too, there is no ill effect of using this in homes or in offices.
Q.We are going to start the construction work of our house soon. Our architect has planned large glass panels and full length windows for the new house. Is it advisable as per Vaastu to have large window panes in houses? — Meera Kumar A.Sunlight is necessary to sustain life. The energy should flow without any hindrance. There should be a constant flow of sunlight from north or east in the morning to fill the house, brighten it and kill the germs and bacteria. These days following the same principle, big glass panes are fitted without wood work in the houses, malls, business places to allow more sunlight which saves energy bill besides making the environment very lively. If the house is south facing, then one can paste reflective silver film on the glass to reflect the negative energy.
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Launch pad
Shourya Group recently launched a 300-acre integrated township project “Shouryapuram” on NH-24, Lal Kuan, Ghaziabad. Well connected to NH-24 and NH-58 and in close vicinity of Kavinagar the project will have plots and apartments in the affordable range. The apartments will be in 655 to 2055 sq ft area and in the price band of ~29 to 45 lakh. The project is likely to be completed by December. 2018. Springdale in Dharuhera Real estate group Vardhama n Real Estate and Promoters announced the launch of its first residential project “Springdale” in Dharuhera, Haryana. The 9-acre project will have 2/3 BHK apartments in the price band of ~ 2,995 per sq ft. The project is likely to be completed by 2016. Speaking about the project, Jaideep Aggarwal, Director, Vardhman Real Estate said, “Daruhera which has emerged as one of the prime location for living after Gurgaon and Manesar has a good potential and offers best value for money”.
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project watch Paras Buildtech has started offering possession of first phase of Paras Tierea, located in Sector 137, Noida Expressway. Spread over an area of 30 acres, Paras Tierea is the first project in Sector 137 where possession for the select towers has been handed over to the buyers. In this phase, 12 towers with approximately 1,150 units (2BHK — 482; 2BHK+Study — 280; 3BHK+Servant — 388 units) are being offered for possession, apart from a commercial centre for shops. Construction work starts The construction work at Homeland Heights in Sector 70, Mohali, was commenced with a bhoomi pujan ceremony at the project site last week. The Homeland Buildwell Pvt Limited that is developing this luxury project has already delivered residential projects in the region. According to the group’d Director Umang Jindal the group will deliver the project before Diwali in 2016.
Karnal’s biggest food court in CHD City CHD Developers Ltd. that is developing CHD City project along NH-I in Karnal has made its 50,000 sq ft food court fully operational. Christened 'Daana Paani' this food court spread over an area of 2.64 acres is the biggest in the city and houses well-known food brands like Haldiram’s, Costa Coffee, Pizza Hut, Subway, Vaango, Chawla’s, Ni-hao, Baskin Robbins and Juice Lounge . Haldiram’s will cover about 7000 sq ft of the food court. The group has invested ~25 crore on this food court.
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realty bites India’s third largest private sector bank, Axis Bank, launched ‘Asha Home Loan’ earlier this week on the occasion of its 20th Anniversary. This is a 30-year home loan product for first-time home buyers in the lower income segment seeking affordable EMIs. Asha Home loans are for customers with family incomes of ~8000-10,000 per month and above. The customers can pool their family income instead of depending on their individual income only. The product offers loans as small as ~1 lakh and up to ~15 lakh in small towns (population < 10 lakh) and up to ~25 lakh in larger towns (population > 10 lakh) The loan can be availed in both floating and fixed rate options, at attractive interest rates, with simple documentation. The appraisal methodology has been formulated keeping in mind the profile of this customer segment. Asha Home Loans offers loans up to 90 per cent of the market value of the property. Speaking on the launch, Jairam Sridharan, Head Consumer Lending and Payments, Axis Bank said, “We see tremendous potential in the affordable housing segment. The customer segment having lower level of income and aspiring to own their first house in the peripheral areas of Tier1cities or within Tier II and III cities has largely remained untapped. Asha Home Loan would help bridge this gap. We are happy and proud to partner in the progress of the life of our lower income customers.” This new loan scheme is available to both salaried and self-employed resident Indians. Loans can be availed for new, resale, ready, under construction property, as well as for purchasing a plot.
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Fair division of property share S. C. Vasudeva email your queries to realestate@tribunemail.com *
I have suggested for ethical division among us based on equity irrespective of the span of services rendered by each of us. *
My younger brother is in favour of a legal division i.e. in accordance with the share of services contributed by each. *
Both of us have discussed this issue but younger brother is not willing to change his stance. I do not want my youngest brother to suffer. Kindly advise us how the interests of all of us can be protected? There is another hypothetical question: If it was an ancestral property, then how the division would have taken place. What would have been the share of each brother? Kindly enlighten whether the elder or the youngest son deserves any preferential share in the ancestral property. — a reader
A. A legal division of the property occupied by all of you will have to be on the basis of the amount contributed by each one of you towards the purchase of plot and the construction of the house property. There is no provision in law whereby seniority of a brother is to be considered for the purposes of such division. However, in order to avoid a dispute members of the family can always enter into a family arrangement on a mutual basis. In case of ancestral property the rules are slightly different in as much as this would vary on the basis of Will, if any, made by the ancestor . In case there is no Will, the division would be on the basis of the provisions contained in Hindu Succession Act, 1956. There is no concept of seniority with regard to the transfer of property after death of a person in case of an ancestral property.
Is the compensation amount exempt from tax? Q. I had inherited agricultural land owned by my father in a village near Sonepat. The same has been acquired by the government for starting some educational institution. What are the tax implications with regard to the compensation received/receivable from the Government of India? — Jagraj Singh A. The answer to your query is based on the premise that the agricultural land was such which was covered within the jurisdiction of the municipal authority or was within such distance from the local limits of municipal authority as has been specified in Section 2(14)(iii)(b) of the Act. The capital gain arising on account of the compulsory acquisition is exempt from tax subject to the fulfillment of the following conditions: *
The capital gain arises to an individual or a HUF from the transfer of a land which was being used for agricultural purposes by such HUF or individual or a parent of his. *
Such transfer is by way of compulsory acquisition under any law, or a transfer the consideration for which is determined or approved by the Central Government or the Reserve Bank of India. *
The capital gain as arising from the compensation or a consideration for such land received on or after first day of April 2004. The term compensation referred to hereinabove includes compensation as enhanced by any court, Tribunal or other authority. In case
you comply with the above requirements the capital gain arising on such compulsory
Can I get an interest break on home loan? Q. I am employed in a bank at present and have availed of a home loan in respect of which I am claiming rebate from my taxable income for the installments paid and the interest charged. The loan will be repaid in 300 installments (200 for principal and 100 for interest). According to the scheme the repayment of installments is adjusted towards the principal amount at first and the interest payment will start after the principal amount has been repaid. My question is whether I can claim rebate on the interest due in respect of such a loan? — Ranjit Kumar A.
Section 24 of the Act deals with the deduction allowable under the head “Income from House Property”. The phraseology used in the said Section would include interest payable. Therefore, in case the company collects the loan first and interest later, the borrower will be able to claim the deduction under Section 80C of the Act in respect of principal amount and the interest which is due for payment under Section 24 of the Act. It may be added that the deduction can be claimed once i.e. either at the time of accrual or at the time of payment.
Delayed possession can cost you claim to rebate A.
Your queries are replied hereunder: * In accordance with the provisions of Section 80C of the Income Tax Act, 1961 (The Act) an assessee can avail of rebate towards the repayment of the principal amount of loan only after the possession of the flat. Accordingly, it may not be possible for you to claim deduction in respect of installments being paid towards the repayment of principal amount of loan. *
However, a relief is available in respect of the interest paid/payable for the pre-construction period. An assessee can claim deduction in respect of such interest in five equal installments from the year in which possession of the flat is taken. It may be added that the yearly deduction allowable in respect of interest for the current as well as 1/5th of the pre-construction period interest will be limited to ~1.50 lakh for a self-occupied house. Further, the construction of the residential house should be completed within three years from the end of the financial years in which the amount was borrowed for the construction of the house so as to be eligible for claiming the aforesaid deduction.
Tax exemption on investing capital gain in a plot Q. I own two residential houses at different places in the country. These were acquired during my service tenure when I was posted at these places. The intention was to settle down at one of these places but I have now decided to sell these houses. These two houses are more than three years old. I have retired and am going to settle in Faridabad (Haryana) as it is close to Delhi and I have purchased a plot there. My queries are: *
Am I entitled to exemption from the leviability of capital gain tax if I invest in a plot? *
If not then what should be done to avail the exemption from the taxability of capital gain? —
Gian A. The answers to your queries are as under: * The acquisition of plot would not entitle you to an exemption from the leviability of the capital gain tax arising on the sale of two houses. *
To avail the exemption from the taxability of the capital gain arising on the sale of the residential houses, you should start the construction of the house on the plot acquired at Faridabad. In case the capital gain arising on the sale of the houses sold by you is not fully utilised for acquisition of plot and construction thereon till the due date of filing the return of income under Section 139 of the Act, you should deposit the balance amount of capital gain in an account with a bank under the capital gain scheme. A proof for the opening of such an account and deposit of amount therein should be kept on record so that the same can be produced before the authorities, if so required. The amount in such an account has to be utilised for the construction of the house. The construction of the residential house must be completed with in three years of the date of sale. If this is not completed within this period then the exemption allowed to you would be withdrawn.
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designer dens
Paras Buildtech has started offering possession of first phase of Paras
Tierea, located in Sector 137, Noida Expressway. Spread over an area of 30 acres, Paras Tierea is the first project in Sector 137 where possession for the select towers has been handed over to the buyers. In this phase, 12 towers with approximately 1,150 units (2BHK — 482; 2BHK+Study — 280; 3BHK+Servant — 388 units) are being offered for possession, apart from a commercial centre for shops.
The market at present is largely end-user driven as migrants from higher regions as well as buyers from Delhi and other parts of the country are looking for residential properties in in the Doon valley and in the picturesque hill stations of Mukteshwar, Nainital and Chaukhutia (Amora). 
There is a sense of hope among developers for a positive post-poll scenario. Will things start looking up for the sector after the general elections? Will clarity on the new government lead to businesses investing? So far, none of the campaigns have outlined a comprehensive proposal for recovery of the real estate market , specifically in terms of providing more housing and managing interest rates.
Aerators
Chromium plating of bathroom and kitchen fittings is a costly affair. Some manufacturers may refrain from depositing required thickness of nickel and chromium over brass and may thus save on this account. Brass is first electroplated with nickel and a layer of about 10 micron is deposited. Over it, certain minimum thickness of chromium layer is deposited to lend a shining effect to the fittings. After the completion of electroplating, the chrome deposit of the fittings is checked through salt spray test, temperature resistance test, electroplating surface durability test and chromium thickness test. For the user, the chrome thickness should never be less than 0.3 micron and may go up to even 0.7 microns. The house builder may ask the retailer for these details while buying CP fittings.
A.
Stained glass window panels and stained glass pieces with mirrors augment the beauty of living room. Everlasting colors appearing through prism of glass are invigorating. Stained glass refreshes the look of bathrooms too.
Q.
We three brothers jointly pooled our resources and bought a plot in 1974 for
Rs 78,000 in our joint names. My contribution as the eldest brother to the family finances was spread over 20 years, that of my second brother was for 7 years and that of the youngest was for 4 years. We kept earning and kept pooling our resources till 1989 when a silent unwritten division took place and coincidentally each of us happened to occupy the portion of the house which was constructed during the said period of 15 years out of family funds nearly in proportion to their contribution. The present market value of the house property is around ~5 crore. Now we want to sell this house and distribute the the proceeds among us but there is hitch in this regard. 
Q.
I had booked a flat in one of the buildings being constructed in Noida in 2010 and by the end of 2013 I had made full payments to the builder on the basis of the agreed installments. The possession of the flat was to be given by March 2014, but the building is not complete till now and the handing over may be approximately after one year. Apart from the repayment of loan I am also paying EMIs of the loan raised from a bank for purchasing this flat. Please advise me whether I can claim the interest on the loan as well as the amount be repaid towards the loan raised for purchase of the flat. —Raghvendra