Panchkula’s poor cousins come of age
Geetu Vaid

Peer Muchalla, Ghazipur and Dhakoli are the three locations that sit right next to Panchkula and have long been seen as ‘poor man’s’ choice. But with a huge residential inventory, improving infrastructure and road connectivity, these areas are promising better living conditions now

High rises have changed the skyline of sleepy villages

While the sweltering heat of June and blazing sunshine is keeping people indoors, the thinning clouds of uncertainity that had been looming over the realty sector are making end users and investors venture out in the market looking for good deals. According to market watchers in tricity region, the realty graph of the periphery market of Zirakpur has shown an upward thrust over the past few weeks.

Though different pockets in Zirakpur have a number of residential developments in the premium and luxury segments, most of the inventory here is still in the affordable and mid-segment range. The affordable tag has been the main reason behind minimal correction in Zirakpur market unlike the property market in Chandigarh, Panchkula and Mohali in 2012 and 2013. But it was not completely untouched by the effects of the slowdown as there were certain pockets, especially the areas a little off the Delhi highway like Peer Muchalla, Ghazipur, Dhakoli etc, that saw a significant drop in sales.

Work on laying sewage pipes in progress at Ghazipur

In fact, Zirakpur had never seen a crash in prices or a correction since its development started almost 15 years back and 2012-2013 was the first time that it got a jolt basically due to buyer reluctance. But this has come as a boon for the area as several of the fly-by-night developers have vanished from the scene and only those developers who have some financial standing and capacity to hold in a slow market are now in the market. As a result the buyers have the surity that their money will be safe and they will get the best of amenities and delivery as per the promised timelines. It is these very aspects that have made areas like Peer Muchalla, Ghazipur and Dhakoli stay on top of the buyers’ wishlist.

According to market watchers even in slowdown there was some price appreciation here. As Prateek Mittal, Executive Director, Sushma Buildtech says, “While the appreciation was about 20 to 22 per cent four years back, in the past two years it was in the range of 10 to 11 per cent which was better than most other locations in the tricity periphery”.

With the market gaining momentum after the elections, these pockets are attracting buyers looking for affordable apartments. Though the number of inquiries from prospective buyers was high even when the buyers and investors were in the wait-and-watch mode, it is over the past couple of months that customers have actually started closing the deals. Rajiv Aggarwal, Director of Devaji Group says that in the 15 days after the formation of the new government he had closed as many as 30 deals for the upcoming commercial project of the group in Peer Muchalla.

Actually the period of slow sales and stagnation in these pockets has given an advantage to the builders as the infrastructure development during this period has improved living conditions here. “During the lull some important development works were taken up in these areas and as a result these areas now offer not only affordable prices but better living conditions also”, says Suresh Walia, a local property consultant.

The inventory

Buyers looking for affordable homes are increasingly zeroing in on areas adjoining Panchkula like Ghazipur, Peer Muchalla and Dhakoli. These have over 25 residential projects in different stages of construction, and people are already living in over 15 completed projects. A majority of developers in these areas are local as big players have little presence here. The Sushma Group has as many as five projects planned in Ghazipur over an area of 25 acres. These include Sushma Crescent, Elite Cross, Urban Views and Green Vista, which offer mid segment, premium and luxury options to home buyers. “Our group will be constructing over 1,100 flats in this area out of which the possession of 200 has already been handed over,” informs Mittal.

Peer Muchalla, that many prefer to call a “poor cousin” of Panchkula, has been the preferred location for those looking for a house in the vicinity of Sector 20, Panchkula. The initial haphazard colonisation that led to the launch of several projects without proper infrastructure and road connectivity has now given way to planned developments wherein developers are paying extra attention to ensuring proper sunlight in the apartments, better floor area, parking space and green belts. In the residential segment the main inventory is in Bollywood Heights, Victoria Heights, Imperial Residency, Panchkula Heights by APS Group, Chinar Heights by Chinar group, City Heights and Vrindavan Garden. While a three BHK in the secondary market is between Rs 65 to Rs 85 lakh in the projects where possessions have already been handed over, in the upcoming projects 2BHK apartments are availble for Rs 30 lakh onwards.“Proximity to Sector 20 Panchkula is the main factor because of which I opted for a flat in Peer Muchalla even though flats were available in projects in Dera Bassi and along Delhi highway for the same price”, says Dr A.S. Sardana who has finalised a house deal recently. The number of commercial complexes coming up in Peer Muchalla has also seen a rise inthe past one year. Being the catchment area for an area with over 10,000 flats, there is ample demand for shops and small office spaces here and with the ticket size being much less than that in the neighbouring Panchkula, this area is also a good investment option. “In Panchkula one will not get a small shop for less than 1 crore but here just a couple of kms from Sector 20 one can get a 250 sq ft shop for Rs 16 lakh”, says Rajiv Aggarwal of Devaji Group that is constructing a commercial complex Venetian Towers in Peer Muchalla.

In Dhakoli some of the main projects are Spangle Heights, Palm Heights, Golden Sand Apartments, Maple Heights, Green Valley Apartments and Motia Heights. A 3BHK apartment is available in the range of Rs 45 to Rs 65 lakh here depending on the builder and the stage of construction of the project.

Dealing with challenges

Though infrastructure challenges involving proper road and sewerage networks and electricity supply are difficult to be overlooked at the moment, yet the steps being taken to provide better civic amenities will soon address all these concerns. The Zirakpur master plan has benefitted these areas as now the development has to be according to set norms. There is proper provision for link roads and green areas around most of the upcoming projects. While Peer Muchalla is Sector 5 NAC Zirakpur, Ghazipur will be the Sector 15 according to the masterplan.

Poor power supply is one of the major problems in the Punjab area so most of the housing societies coming up here are equipped with an effective power back up. As Mittal says, “ We know that electricity problem is a major concern for our buyers, so we have provided an effective as well as a cost effective power back up. The monthly cost of this power back up facility is not more than Rs 50 per residential unit”.

Poor connectivity with the main highways as well as poor condition of inner roads were the main reasons of low appreciation of property prices here and the main complaint of the end users who had moved into the flats in areas like Peer Muchalla and Dhakoli. But with the new masterplan the areas for roads have been demarcated. “Ghazipur has good connectivity as the 150 ft road connects to old Panchkula-Ambala highway and within the area the roads are at least 60ft wide”, says Mittal.

A 9-acre green belt and park has been developed by the MC in Ghazipur to increase the green cover and provide open recreational area for residents.

Thus, as optimism grows about the economic growth and the growth of the real estate sector, these micro markets on the periphery are hoping to have distinct identity of their own as areas offering good living conditions rather than just being the haphazard overgrowths of the bursting-at-the-seams Panchkula and Chandigarh.

Green house
Flexible floral treats
Amarjeet batth

Landscaping is all about maintaining variety, harmony and colour by balancing different elements as well the type of plants used. While trees and shrubs are the key components of a garden, there are certain tricky corners and wall faces that are difficult to blend into the overall look of the garden. The most suitable element for these areas are the climbers or vines that can add a subtle grace and also lend colour. Climbers are grown primarily for their colour, showy leaves, scented flowers, foliage and trailing habit. A few climbers are herbaceous (annuals), while others are woody (perennials).

The right positioning and placement of a climber is very important in the garden. A climber adds charm to the garden by its trailing habit or by clinging with tendrils and reaches areas which cannot be covered by trees and shrubs.

Climbers are the most adaptable and flexible plants in a garden as these can be trained on an arch frame at the entry gate, put on the barbed wire to form a colourful fence, be trained along elevations of the buildings to soften the hardness of the structure. They can creep along external walls of the house and are also placed on various fabricated structures like gazebos, pergolas and umbrella-shaped canopies, on pillars and on stands placed along small roads and paths in the garden. In absence of any special structure they can even be made to twine around another plant.

They produce best foliage and flowers in full sunshine, in well-drained soil and with adequate watering. There are some shade-loving varieties too. These require little care except for an occasional removal of deadwood or diseased branches and trimming.

Summer months offer a few promising climbers which are very successfully grown and provide a bounty of flowers.

Quisqualis indica: The flowers of this climber appear in clusters and resemble a woman’s ear rings. The shape of flowers has given this plant its local name as Jhumki Bel. It is also called ‘Rangoon creeper’ and is a ligneous vine which is grown as an ornamental climber that can go up to 8 meters. It is a fast-growing climber with dense foliage and profuse flowering.

The flowers are highly scented and change colour from white to pink to red. It flowers almost round the year and shows vigorous growth in summers and rainy season. However in winters the flowering is reduced. This climber needs prning in winters to maintain its desired form.

Enticing and entwining blooms

Gmelina - Yellow Allamanda -Yellow Antigonon - Pink or white Thunbergia - Blue to mauve Tecoma grandiflora – Orange Bougainvillea – Varied colours Ipomea palmate (Railway climber) - Blue Passiflora caerulea (Rakhi Flower) – Mauve Jasminum grandiflorum (Chameli) - White Flowers. Jasminum samboc (Moghra, Motiya) – White Flowers. Quisqualis indica ( Jhumka Bel ) - White to pink to red.

Tecoma grandiflora: It sheds leaves during winters and bears large trumpet-shaped orange blooms in summers. It requires lots of sunlight and is thus used to cover big walls to give a charming look to a bare wall.

Gmelina hystrix: It is not native to India, but grows well in this region. It can be planted at the entrance of the house or on planters on the wall to showcase the luxurious fall of foliage and yellow-coloured flowers.

Ipomea palmata: Also called the ‘railway climber’, it bears blue flowers. It is a fast-growing climber which blooms almost round-the-year.

Allamanda cathartica: It is an ornamental vine known for its large yellow fragrant flowers. It does not twine or have tendrils and needs support material like a fence to flourish. It can be pruned into a shrub. If it is not pruned then it will sprawl.

Antigonon lectopus: A coral creeper with heart-shaped leaves having pink or white flowers also grows lavishly on fence and walls.

In garden sometimes there are dried up trees, which can be used as supporting structure for a fast- growing climber like Thunbergia grandiflora which bears blue to mauve coloured flowers.

Bougainvillea: It is the most popular and common variety in the region, which provides lush green foliage and creates a spectacular colour effect almost all round the year. Bougainvillea looks most vibrant when in full bloom for its richness and profuse flowering. It is available in a wide range of colours like mauve, purple, white, golden, orange, shades and tones of red. It can also be grown in pots, trained on stands and used as a hedge.

Jasminum samboc (mongra, motia): This climber is mostly grown as a bush. It starts flowering from April onwards. It is grown for attractive and sweet fragrant white flowers. Jasminum grandiflorum (Chameli) also produces white flowers with a rich fragrance.

Loan zone
Retrieve a lost cause
S. C. Dhall

What if you lose your original property papers? What is process of taking housing loan against duplicate registration deed.

It is always better for home buyers to check all the requisite property documents before making the final call. Property documents are the most significant thing while buying or selling a home. But in case if you lose your documents then here’s what you can do:

• It’s not that you will not be able to sell your house as you have lost the original documents. There are solutions for each and every single thing and in such cases, duplicate documents is an option. You need to get the duplicate documents if you want to sell your property that has no original papers. Duplicate documents will also help you to secure a bank loan in case if you are buying a new one. But be prepared to spend a hefty sum from your pocket to make a hassle-free deal in future.

How to obtain duplicate papers?

When you misplace such important documents, the first and foremost step is to file a police complaint. The owner should file an FIR stating that the documents have been lost, misplaced or stolen, and get a copy of the complaint. If the house is mortgaged and the documents have been misplaced by the bank, the FIR will still have to be filed by the owner. If you are a buyer then it is your right to ask the seller to provide you with a copy of the FIR.

Moreover, the home owner has to put an advertisement in daily newspapers including English and regional language ones, stating the loss of the original documents. Even a buyer can place such an advertisement and through it call for any claimant to the property within 15 days of the advertisement being printed.

The owner can also apply for a duplicate share certificate from the housing society depending on the police complaint. The housing society can put up the share certificate application on their society meeting and if it gets the nod from everyone concerned, then the society will issue a copy of this certificate after charging a certain amount.

Another important document which both the owner and the buyer need to have is the NOC, i.e., no objection certificate. Without this certificate, it will be very difficult to obtain a loan from any lender.

The next procedure which the owner has to do is to get an undertaking on a stamp paper, affirming on the loss of the original documents. The undertaking should outline the details of the property, the text of advertisement published in the newspaper, and the police complaint number. It should also clearly state that all the details mentioned in the undertaking are true. Then these document will be registered, attested and notarized with an attorney.

Get duplicate copy of the original sale deed

To get a duplicate copy of the sale deed, you need to visit registrar’s office as it keeps all the records of transactions in its jurisdiction. The owner will have to submit copies of the police complaint, share certificate from the housing society, the newspaper advertisement, and the undertaking, at the deputy registrar's office and pay the required charges. He/she will then be issued a copy of the sale deed,

If it is an old property, then it is also advisable to get a title report of the document to ascertain that the property is free of encumbrances. As the deputy registrar's office will have all the details of the property, you can get this document from there easily.

realty bites
Brigade Group to invest Rs 750 crore in 8 hotels till 2020

Brigade Hospitality Services, a part of real estate developer Brigade Group, plans to invest around Rs 750 crore to open up to eight new hotels by 2020. The company partners international hospitality chains like the InterContinental Hotels Group and Accor is looking at cities, including Bangalore, Mysore and Chennai, for the new properties. “We propose to invest between Rs 650-750 crore in our upcoming six to eight hotels. This cost is exclusive of the land price,” Brigade Hospitality Services Ltd CEO & Executive Director Vineet Verma told PTI.

Of the new upcoming hotels, two will be opened in the later half of 2015 — Grand Mercure, Mysore in partnership with Accor and the Holiday-Inn Tidel Park, Chennai in partnership with InterContinental Hotels Group (IHG), he added. When asked about the other cities where the hotels will be located Verma said: “The remaining projects are still in the planning stage. However, the development would be made in key city locations of Bangalore, Mysore and Chennai”.

On being asked about financing for the upcoming projects Verma said: “We propose to fund our new projects through a combination of internal accruals and debt. We are also open to taking in investment partners and are on the look out.” The realty major had earlier entered into a partnership with global hospitality chain InterContinental Hotels Group to open Holiday Inn Express hotels is also open to other such pacts.

“We have signed an MoU with IHG for setting up 10 Holiday Inn Express hotels. While the focus will be to expedite the setting up of these properties, there are other international brands as well with whom we work. Some of our other hotel projects will be in association with these brands,” Verma said. The business model followed by the group is that while it owns the properties, it enters into management contracts with established hospitality chains, which run the hotels.

DHFL reaches out to low and mid-segment homebuyers in Punjab

The second largest private sector housing finance company in India, DHFL, is going to expand its footprint in Punjab and Chadigarh by focusing on affordable housing in the northern region.

The company that already has offices in Chandigarh, Ludhiana, Jalandhar, Amritsar and Patiala opened two new offices in Bathinda and Sangrur earlier this week to reach out to the lower and middle income (LMI) segment home buyers in the state. “Our focus is to reach out to the lower and mid-segment borrower who wants to own a home. We operate in the average loan segment of Rs 12 to 15 lakh for such borrowers who find it difficult to arrange finance from banks and other lending agencies”, said Rakesh Makkar, President & CDO, DHFL, at a press conference in Chandigarh earlier this week.

Sharing the home loan lender’s plans for the region Makkar said DHFL would be opening five more offices in the region at Gurdaspur, Khanna, Hoshiarpur, Pathankot and Ropar during FY 2014-15.

“Punjab and Chandigarh have witnessed an exponential growth in housing demand, with the influx of major IT companies. This has further triggered the need of affordable housing in the region, on account of allied sectors’ growth. Over 75 per cent of DHFL’s home loan portfolio in the region accounts for sub Rs 12 lakh ticket size home loans”, he added.

Currently DHFL has 10 per cent share in the loan segment in Punjab and has seen 60 per cent growth in business during 2013-2014. The company has 7,195 customers in the state and a portfolio size of Rs 1148 crore

DHFL offers a wide array of home loan products catering to the needs of its customers, including home loan, home extension loan, home improvement loan, plot loan, mortgage loan, leased rental finance and non-residential property loan.

It also refinances project loans essentially for development of low and middle income (LMI) housing projects.

Besides offering a 30-year repayment option, the company also offers special schemes for rural housing with 9.6 per cent interest rate and for women.

Parsvnath to monetise land parcels

Parsvnath Developersplans to either sell the Rs 1,000-crore worth land parcels in South-West India or form joint ventures with local builders for development.

“We are planning to monetise our land parcels in southern and western part of the country in cities like Chennai, Hyderabad, Kochi, Goa, Mysore and Palghat. We will sell these plots if we get a good price or form joint ventures with local developers,” Chairman of Parsvnath Developers said recently.

The group currently has 85 acres in Kochi, 35 acres in Chennai and 75 acres in Mysore. The funds raised from divestment would be primarily used for debt reduction. Parsvnath is targeting to reduce the debt to Rs 500 crore by March 2016 from the existing Rs 1,300 crore. Parsvnath Developers reported a consolidated net loss of Rs 22.84 crore for the quarter ended March on lower sales against a net profit of Rs 14.84 crore in the year-ago period.

Total income from operations dropped by 50 per cent to Rs 90.17 crore during the fourth quarter of last fiscal from Rs 181.87 crore in the corresponding period of previous year.

The group has completed 54 projects and it is currently working on 49 projects with a total area of 72 million sq ft. — PTI

Tax tips
Dispute over share in property
S. C. Vasudeva

Q. My father expired in 1991 without executing any Will regarding an 11-marla house in Chandigarh. The house has been transferred in the name of us four brothers and one sister. Three brothers and my sister are living in their separate houses/government accommodation in Chandigarh. One brother has occupied the house after the death of my mother in 2004.

The youngest brother who is occupying the house is neither doing any partition of the house nor interested in selling the house. He is not interested in any other settlement also and is not allowing me to enter the house. He also threatens to call the police and file a false criminal complaint/case against tanyone trying to enter the house. My other two brother are not taking an interest in this property as they have their own houses.

I am a senior citizen and own a small house in Chandigarh. My son is married and is living with me. Kindly advise me on the following:

• Whether my youngest brother who is occupying the house can stop us from entering the house?
• What measures should be adopted for occupying our share in the house.
• Can I sell my share/rights in this property? — vidya Sagar

A. Your queries are replied hereunder:

• Legally your youngest brother can’t stop you from entering the house, as you are one of the co-owners of the house.
• The alternative in this case seems to be, to approach the court for a settlement of the dispute and division of the house in five equal portions.
• You can sell your portion of the property provided the same is clearly identifiable.
• The other alternative is to approach one of the elders in the family for help in sorting out the matter without any recourse to the legal action as the litigation would be time consuming. In case it is possible to do so, it would be the most appropriate thing under the circumstances.

How much fine do I have to pay?

I am now compelled to take a legal recourse against the deduction and the mental agony caused due to this. Please suggest if the case is strong enough to survive legal scrutiny. — Anamilka

You would be liable to file your tax return in ITR-2.

Tax on sale of inherited house

Q. My deceased father had an inherited a house through a registered Will by his father in 1954. My father bequeathed this house to me through a registered Will before his death in December, 2013. If I sell this inherited property now then what will be my income tax liability. — Ravi

Realty bites
CCI orders fresh probe against DLF

Fair trade regulator CCI has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office space buyers at one of its commercial projects in Gurgaon. Some other group entities of the real estate major have already faced probe by the Competition Commission of India (CCI) with regard to various other cases of anti-competitive practices. CCI had also imposed a fine of Rs 630 crore against DLF for abuse of its dominant market position a residential real estate case, but the company had challenged the same.

The latest probe would be carried out against DLF Universal, upon a complaint that alleged the realty company of imposing certain anti-competitive clauses in the ‘Commercial Office Space Buyers Agreements’. The case pertains to the DLF’s commercial office space in Corporate Greens project at Sector 74A in Gurgaon and the CCI has asked its Director General (DG) to initiate an investigation against DLF Universal Limited. After looking into the complaint, CCI said in a 11-page order that it is “of the prima facie opinion that despite the presence of other developer in commercial real estate space in Gurgaon such as, Emmar MGF Land Ltd, Unitech, Spaze Towers Pvt Ltd, Vatika Ltd, Bestech Indian Pvt Ltd, JMD Ltd, DLF Group appears to be dominant in the relevant market”.

“Having examined the clauses of the agreement, it appears that some of them are unilateral, one sided and loaded in favour of the opposite party (DLF Universal),” CCI said in an order dated June 23. The fair trade regulator added that “the conduct of DLF Group, emanating from its dominant position in the relevant market, prima facie, amounts to the imposition of unfair terms and conditions on the commercial office buyers which is anti-competitive...”.

Launch pad
Green Bay Golf Village

Real estate group Orris Infrastructure recently launched Green Bay Golf Village, along Yamuna Expressway. The project is close to the F1 Track (Buddha Intenational circuit) and will be spread over 100 acres. The township will have group housing by the name of Golf Homes, premium residential plots and commercial spaces as well. “This project will also have NCR's first12-hole executive golf course,”said the MD of the group Amit Gupta. The group housing will be spread over 4 acres having 624 1, 2, 2 + study, 3, 3 + study and studio apartments (unfurnished), apartments. The project is likely to be completed in four years.

VANN at Sohna road

CHD Developers Ltd. announced the launch of VANN in Sector 71, Sohna Road, Gurgaon earlier this week. Forest is the underlying theme of this Rs 300 crore project. “Every apartment in this project will exude the fragrant charm of a spice garden, which will house numerous aromatic herbs and spices”, said Ravi Saund, COO, CHD Developers Ltd. A world-class club with swimming pool, pool-side gym and bistro, a special yoga-cum-meditation deck to relax and rejuvenate; tennis court, cricket net, mini football zone and outdoor fitness area; a kids’ zone with skating rink, are the other highlights of the project.

— Based on information provided by the developers