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real policy
Subvention plans rule festival offers
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REALTY BITES
tax tips
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Property owners breathe easy in Punjab
Ruchika M. Khanna
Earlier this week, the state government decided to reduce property tax imposed on all categories of properties, simplify the procedure for calculating tax; and, de-linked the property tax from the collector rate. The decision was taken after the state government faced wide- spread protests from people over the high property tax being imposed. Punjab had introduced property tax in 2013-14, and though the tax structure was diluted twice last year, the general opinion was that it was too steep. As resentment simmered over this, political pundits even cited this as one of the reasons behind the poor performance of the Akali-BJP combine in the Lok Sabha elections earlier this year. On the corrective path now, the government, after much deliberation, has reduced the tax to be collected on all kinds of properties in the state. Gulbir Garewal, who owns a commercial property at Rani Jhansi Road in Ludhiana, is relieved that better sense has prevailed and the government has reduced the property tax by half for commercial rented property. “Last year, I had to pay through my nose without getting any civic amenities in return from the local body. I believe that the tax charged by any local body should be proportional to the services being provided by it. At least some relief has been given to the property owners now,” he said. Though people will have to pay the old tax for last fiscal, from this year onwards a large cross section people have also been exempted from paying property tax. These include ex servicemen, widows, people who have vacant plots, people having less than 50 square yards of property and people owning upto 125 square yards of property (if it is single storey). Besides, self assessment of tax has also been introduced and only a half page form has to be filled. Punjab has been divided into three zones:
Each city is further divided into three zones , inviting different tax slabs (on per square yard basis for residential and per square feet basis for commercial property). Property tax on rented commercial property has been reduced from 15 per cent of rent initially to just 7.5 per cent now. While the move has been received well by the people, the government’s inability to regularise the over two lakh illegal colonies across the state, has failed to give a push to the real estate sector. Only a handful of these illegal colonies have been issued NOCs after their regularisation by the government since the policy was introduced last year. Shortage of staff and many clarifications in the policy, besides dual charges on regularisation (from both the coloniser and the individual plot holder in the colony) have served as dampners for this scheme. Satinder Singh Brar, a property dealer in Bathinda, says that while the reduction in property tax will have no impact on the real estate sector, it would have been better if the government been more pro active in regularising all illegal colonies, which in turn, would boost the realty market.
Fact file
BPL families, ex servicemen have been exempted from paying property tax, besides concessions being introduced for educational institutions ( to pay only 50 per cent tax) and land/ property owned by widows and physically challenged.
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Subvention plans rule festival offers
Even the buyers are scouting for good deals as the festival season is the time when the developers put the icing of attractive offers and discounts on their ‘inventory cake’. So if you are a prospective buyer then you have a whole array of festival offers right from gold coins to scratch coupons, to modular kitchens, ACs and cars to discounted price and easy payment plans to choose from. Taking a look at what the developers in the tricity region are offering it becomes evident that subvention schemes and easy- payment plans are the flavour of the season rather than gold coins and white goods. The main reason for this is that in spite of the positive sentiment in the market the developers are still burdened with liquidity crunch and inventory overhang and are not in a position to offer really “meaty” offers at this time. So according to market watchers most of what is being offered this time in the name of festival offers is nothing but the recycled payment plans which have “been decked up with festive festoons to lure buyers”. Cash strapped buyers also find ‘no EMI till possession’ and other subvention schemes attractive as these reduce their burden to some extent. “Due to high property prices and interest rates on home loans a mid-segment buyer welcomes the relief of not having to pay EMIs till the time he gets possession of his house. This has a double benefit as on the one hand the buyer doesn’t have to worry about the EMI burden, on the other hand he can benefit from price appreciation when he finally takes possession after 24 months or so”, says L.C.Mittal, Director Motia Developers Pvt Ltd. The group’s festival offer includes a subvention plan under which a buyer in its Motia Royal City project on Chandigarh-Ambala highway can book a flat by paying 25 per cent of the cost and the developer will pay the interest component on the EMI on the rest 75 per cent amount financed by the bank. Ansal API group is also offering a festive season scheme under which a buyer can book a home in its Orchard County project in Sector 115, Mohali, by paying 25 per cent of the total cost and pay the rest of the amount at the time of possession after 24 months. The group is also offering an additional 2 per cent discount for government and corporate sector employees. At Landmarks project in Sector 116, Mohali, too, buyers can book a flat by paying 30 per cent of
the amount initially and pay the balance at the time of possession. At Gulmohar Heights project on Khara-Kurali highway in Mohali district the developer is offering booking for 20 per cent of the cost and the rest of the payment at the time of taking possession. Apart from the subvention schemes some of the tricity developers are also offering direct discounts. “It is the schemes that offer a price cut make sense for a home buyer on a tight budget. That is why such offers get the maximum response during the festival season”, says Amit Mittal, Director Maya Garden group. At Maya Garden City project, also on the Chandigarh-Ambala highway, Zirakpur, the buyers are being offered by 1 per cent discount on the total cost for bookings finalised during the Navratras. The Emaar MGF group is offering a “down payment rebate” of 20 per cent for bookings in ‘Mohali Hills’ project in Mohali. The company is offering special discounts to the customers like ‘On Time Payment Rebate’ of 15 per cent wherein customers have to make the payment within 18 months from the date of purchase. Along with these, rebates are also being offered on Basic Selling Price (BSP) and Preferential Location Charges (PLC). These offers are applicable on all the residential as well as commercial projects of the township in Mohali. These festival season offers are not limited to the residential projects as developers having commercial projects in the tricity also have special offers for buyers looking to invest in commercial property here. Devaji group is offering 10 gm and 20 gm gold coins for booking a shop in its upcoming VIP Plaza project on VIP Road, Zirakpur. The Emaar MGF group also has a special possession offer for Mohali Hills' upcoming commercial space ‘Central Plaza’. The customers can avail the option of paying 40 per cent in three months and take possession, whilst balance 60 per cent is payable as rental in 15 months time. The Sushma Group is offering booking for commercial spaces in its commercial project in Zirakpur for
Rs 7.5 lakh with a no EMI till possession and 12 per cent per annum assured return offer tagged along with it. These are just a few of the festival offers available in the tricity region as almost each developer has something “special” lined up for the buyer here. However, the point of contention here is that whether this festival offer blitz actually jacks up the sale volume and brings momentum to the market or is just an annual ritual. Cautious buyers are taking these with a pinch of salt as Ropesh Kumar, who is working in an IT firm in Mohali, says, “ These offers actually help in creating a feel good factor in the market besides some hype as in the festival season the sentiment is generally positive. If analysed properly then most of these offers have very little to offer. While staggered payment and no EMI options are equally beneficial for the developers, offers of a modular kitchen, AC, or club membership are all about the services that are part of the overall package in any case.” But in a market plagued by slowdown for the past three years due to low investor interest and cautious end users, the feel-good factor is important as it will give confidence to the buyers to enter the market.
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To buy or not to buy
Prabhleen Bajpai
Let’s look at the various aspects which can help you make a better decision. Rent or EMI
Property prices have seen a dramatic increase in the past few years whereas rentals have comparatively stayed moderate. The rental in most cities in India is 2-4 per cent of the value of the property. Take for example, Vipin Kapur (33 yrs) who lives in Gurgoan in a rented apartment worth
Rs 90 lakh for a monthly rental of Rs 18,000. The rental he pays during the year is just 2.4 per cent of the value of the property. Since he can afford the property, he decides to buy a similar property; he pays
Rs 20 lakh as the down-payment and starts a monthly EMI of approximately Rs
70,000 @ 10.5 per cent interest rate. Going by these figures, at the end of 20 years, the total amount paid by him to the bank would be 42 per cent principal loan amount and 58 per cent interest. When a prospective buyer says, why pay the landlord when one can pay an EMI, remember, even the bank is going to charge a good amount of money as interest. One thing that will help is paying a bigger down payment, which will reduce the overall burden of a loan.
Uncertainty
What complicates the situation is the uncertainty of stay at one place, as most professionals tend to reallocate in pursuit of better career options. Take the case of Vipin Kapur, who has been offered a better job package that entails moving to Mumbai. So, what about his house now? Let’s explore his options: he can generate some money by giving his apartment on rent or sell it. If Mr Kapoor decides to dispose of the house in Gurgaon for
Rs 98 lakh, it will seem to be a gain of Rs 8 lakh, but wait! In these two years, he has paid an EMI of approximately
Rs 1,680,000 out of which his principal repayment was about Rs 2,30,000 (outstanding principal now
Rs 67,70,000) with Rs 14,50,000 as interest. On selling, the loan is paid and the down payment amount is recovered amounting to a total of
Rs 8,770,000 (2,000,000 + 6,770,000). He is left with Rs 1,030,000 but has paid much more as interest! Note that it takes 6-8 years for the property to become “no profit-no loss” as in the initial years, the EMI caters more to interest and less to the principal amount. So take the decison to buy a property only if you do wish to stay for a long time period even if not forever.
Earnings & expenses
Your earnings and expenses are one of the most crucial factors to consider. With a monthly income of
Rs 1 lakh, your loan eligibility would work out to be Rs 40-50 lakh for a 20-year loan commitment. Make sure that after catering for the EMI and other monthly expenses, you are left with a little surplus out of the salary. Make provisions for the requisite down payment and a contingency fund of
Rs 5-6 lakh. Also, keep in mind that with inflation not only will your expenses go up but the interest rates will also go up which can jack up your EMI.
Steady income
Most home loan tenures are for 15-25 years, which means that once you commit to it, the payment needs to be made on a fixed date of every month (you can avail a reprieve for 3 months in case you leave your job). You must be sure about your job stability , especially those in the private sector or self-employed people before leaping into it.
Convenience and choice
Some decisions involve both time and money. Would you prefer to stay in your own house and commute say two hours every day or be in a rented apartment which is 10 minutes from your work place? The same holds for schools and other services. These decisions affect your monthly budget, for example, your fuel expenditure which was
Rs 1500 a month may shoot up to Rs 5000 a month if you move into your own home in the suburbs. This choice to buy a house in such situations makes more sense when the rent you save contributes a substantial part of your EMI. The price-to-rent ratio helps here. It is the price of the prospective property divided by the annual rent; a figure of 15-20 is suggestive of buy and if it’s more than that think twice.
When to Buy?
Buying a house is perhaps one of the most important financial goals for most people. Timing it right can help you reap its real benefits. So, big question now is when to buy.
— The writer is Director, FinFix Advisors and Planners Pvt. Ltd.
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Charming abodes
Good luck charms can add that missing magic to your home. So invite some lucky charm to your home and shoo away the negative energies to welcome the festive season Vandana Khosla
No matter how scientifically inclined we become, no one can deny that there is an element of 'fortune' to everything we do. Good luck things promise to nurture that element of good fortune in our lives. Good luck charms are more like vitamins that will help you from within. Good luck charms can be used to enhance your best directions for wealth, work, sleep, marriage, family, health and so on. These can not only be used merely to get rid of the negative energies and omens but also make unique décor pieces. Even if you're not superstitious, it's often comforting to have a lucky charm or two around your home. Four leaf clovers, rainbows, ladybugs, horseshoes — these are just a few items that people associate with good luck. Here are a few good luck charms that are dedicated in promoting the well-being and good fortune by maximising the flow of energy, through a home. The color Red
Animal charm
Certain animal symbols have the power to act as good luck charms. Try incorporating some of these animals as a part of your home décor, whether as the subject of a figurine or artwork, or as part of a pattern on a rug or upholstered piece. Symbols of luck include dragons, tigers, horses, tortoises and elephants. Fish are considered a particularly auspicious symbol for a homeowner who wishes to attract wealth and prosperity.
Mirrors: Decorating with mirrors in particular promotes good luck by redirecting any negative
energy flow. Horseshoe: A well-known symbol of luck is that of the horseshoe. It is often associated with the properties to protect an individual from evil, and is known to keep the devil away from the house that has a horseshoe on the doorway. A horseshoe pointing upwards stores good luck inside forever. So revamp your homes this festive season and make it a better, warmer and positive place to live in by adding a touch of luck here and there. — The writer is an Interior Designer and Owner & Proprietor of Elvy Lifestyle. Wind Chimes: These are a kind of improvised bells that are Chinese in origin. These are hung from windows or doors so that whenever there is a breeze, they make a 'chiming' sound. This sweet tinkling sound is supposed to keep bad vibes at bay and cultivate positive energy. Wind chimes are beautiful good luck objects and the sound they make is very pleasing, so even without the aspect of 'luck' these can compliment your home decor very nicely.
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Lotus Greens to build 4 realty projects in NCR
Private equity firm Red Fort Capital has invested
Rs 365 crore in Lotus Greens’ projects and plans to pump in up to Rs 1,000 crore. It had infused
Rs 365 crore in the form of unsecured non-convertible debentures (NCDs). “We are coming up with four projects at one go in Gurgaon, Noida and Yamuna Expressway comprising over 5,000 apartments. These projects are worth
Rs 4,400 crore in terms of sales value,” Lotus Greens Vice Chairman P Sahel told reporters in New Delhi recently. The company would develop 300 plots and over 1,000 flats in
Noida, while another 3,200 flats would come up on Yamuna Expressway. Lotus Greens would also construct a mixed-use project in Noida comprising 300 serviced apartments, a 5-start hotel and 2.5 lakh sq ft office space. In Gurgaon, the company would develop 1,000 flats. The group also has plans to develop hospitality, health care and education projects.
Parsvnath sells 140 acres to Supertech for
Rs 665 cr
With this deal, Kotak Realty Fund has exited this township project. It had invested
Rs 110 crore in the project in 2012. Parsvnath had last week informed the BSE that it has transferred the land and development rights in the township project to Supertech but did not give any financial details. When contacted, Parsvnath Developers Chairman Pradeep Jain said, “We have monetised this asset as per the company’s strategy to reduce the debt and strengthen the execution of ongoing projects”. Parsvnath has a debt of about
Rs 1,200 crore, which will come down after this deal. As part of the monetisation plan, the company is looking to either sell the land parcels in
South-West India or form joint ventures with local builders for development. These land parcels in different cities of south and western states
are worth about Rs 1,000 crore. In the company’s annual report, Jain told
shareholders that the company has laid out a clear set of priorities for the next 12-24 months
to improve profitability. The company is executing about 50 projects with a total area of about 80 million sq ft. It posted a net profit of
Rs 16 crore over a turnover of Rs 561 crore last fiscal.
Faster construction with Russian tech in India now
The technology aids in high speed construction of structures using patented pre-cast systems and can be used for construction up to 22 floors in high seismic zones. ACIL is the only authorised implementing partner of KUB-STROY for all the projects
executed through this technology. The patented construction technology has been successfully implemented in more than 25 million sq ft of development in Russia and neighboring countries as well as in the Middle East and other parts of
the world. This high-mechanised technology is considered investment-friendly as it involves unaffected margin, enhanced product quality and timely delivery of the project. The precast structures made by using KUB 2.5 technology can be quickly erected on the construction site by means of mechanical equipments with minimal disruption to the site, saving energy and increased comfort. The manufacturing of these precast components is done through a simple production set up which requires less stocking space. Also the construction process is eco friendly and reduces wastage. The technology contributes to sustainable design in many ways, since there are no beams; the system provides better headroom and high flexibility for internal planning and alterations in future. Speaking about the benefits of the technology, Shobhit Uppal, Deputy Managing Director, ACIL said, “With KUB 2.5 technology, it is much simpler and easier in the construction of large volume projects as it reduces the dependency on manpower requirement at site at least till the finishing work starts. The pre-cast technology will improvise the efficiency and reduce the manpower during the completion of the project. It will ensure reducing the construction time by about 50 per cent till structure completion. We are committed to consistently achieve client satisfaction by providing all construction related services including design on turnkey basis and assuring timely completion of projects within budget and with excellent quality.” — TNS and Agencies
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Chintels Acropolis in New Gurgaon
The Chintels Group announced the launch of its premium residential project Chintels Acropolis in Sector 108, Dwarka Phase II, on the occasion of Navratras. Spread over nearly 40 acres the new project will have 23 residential towers with 1,341 apartments. The size of the 3/4/5 bedroom apartments will range from 181.16 sq. m to 603.86 sq. m (1950 sq. ft to 6500 sq.ft). The new project is a part of Chintels Metropolis - a self-sustained area development spread across sector 109, 108 & 106 in Gurgaon. Announcing on the launch, Prashant Solomon, Managing Director, Chintels India Limited said, "We welcome the auspicious Navratras by announcing the launch of our residential project. The areas of New Gurgaon comprising Sectors 109, 108 & 106 bordering Dwarka Phase-II are expected to follow the same growth curve as premium Gurgaon locations like Golf Course Road once the Dwarka Expressway comes up".
Godrej Aria in Gurgaon
Mumbai-based real estate developer Godrej Properties Ltd. (GPL) has claimed to have sold over 250 apartments, with an area over 400,000 sq. ft. in three weeks at the launch of its residential project, Godrej Aria, in Sector 79, Gurgaon. Spread over 7 acres, Godrej Aria consists of 6 high-rise towers and offers 386 apartments across approximately 650,000 sq. ft. of space. The project is being developed as a joint venture with group companies of Rizon Developers. The project will offer various amenities including a modern 15,000 sq. ft. club, a well-equipped gymnasium etc.
Lodha Estrella in Mumbai
Lodha grouplaunched 'Lodha Estrella', a 55-storey tower designed by Kelly Hoppen for Yoo at New Cuffe Parade in Wadala area of northeastern fringe of Mumbai, which will have 2 and 3 BHK apartments, priced between
Rs 1.5 crore and Rs 2.9 crore. Riding high on growing demand for its high-end luxury residential offerings, the group is expecting nearly
Rs 9,000 crore revenues this fiscal. "We have been offering international standard designs to our customers in most of our projects as they are expecting nothing less than a truly world class product. Considering the growing demand for our products, we expect to clock at least Rs 9,000 crore in sales this fiscal," managing director Abhishek Lodha told PTI. The company had reported revenues of over
Rs 8,000 crore last fiscal. In August, Lodha along with US billionaire Donald Trump launched the ultra luxury 75-storey Trump Tower, at the Lodha Park in the central part of the city at Worli. The price of the apartment ranges between
Rs 9 and Rs 18 crore. — Based on information provided by the developers
Casa Greens 1 in Greater Noida West
Radhey Krishna Group formally announced the launch of its project Casa Greens 1 at Greater Noida West. The group has adopted a unique method for all projects as it claims to open inventory for sale only after beginning construction of a particular tower. “It helps us to fulfill commitment of timely possession and in fact helps to sell the units easily by convincing the customer”, said Naveen Goel, Managing Director of the group. Working on the same model, the group has completed Casa Greens at VIP road, Lucknow in record time of two years and started the construction of Casa Green Exotica at Vrindavan Yojna, Lucknow, where aspiring customer can check inventory and construction update. The Greater Noida project has affordable apartments with three side open and the project is likely to be handed over by December 2017 to its buyers. Located on Plot no. GH-04A in Sector 16, Casa Greens 1 is spread over 5 acres adjoining a 7.5-acre theme park. The masterpiece is designed by renowned architect Hafeez Contractor and it has total 9 towers offering 850 apartments of 2 and 3 BHK in sizes of 1050, 1140 and 1490 sq. ft. in the price range of
Rs 30 lakh- Rs 45 lakh.
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Can my NRI friend execute GPA in my favour?
S. C. Vasudeva
A. Your friend can execute a General Power of Attorney in your favour during his visit to India. The General Power of Attorney so executed and registered with the Sub-Registrar will empower you to take the possession of the property as and when the builder asks your friend to take the possession. Such a power of attorney, apart from specifying those acts which your friend may like to delegate to you to carry out on his behalf, should also authorise you to appear before the Sub-Registrar for getting the sale deed registered in the name of your friend. A GPA, therefore, can be executed in your favour before these two events i.e. taking over of possession and registration of sale deed, take place.
Risky Proposition
Can this strategy be used to save tax? — Nripander Parkash Khanna
A. The query indicated that the property has been sold for Rs 20 lakh within the period of 36 months and you have sought advice whether tax on such a short-term gain can be saved by investing the entire amount in purchase of another house. The suggestion made by you for converting an expected short-term capital gain into a long-term capital gain by letting out the property for a period of 10 months or so to the buyer, prior to such a sale is academic and the reply to your suggestion is, therefore, based on my understanding of the law. The method of tax planning suggested by you should be avoided as it can lead to litigation. My reasons for avoiding the tax planning method suggested by you are as under:
I would, therefore, not advise an assessee to venture into a transaction that can lead to litigation.
How much stamp duty do I need to pay?
A. Stamp duty is leviable by different states at varying rates and therefore, the value of the stamp paper required for agreement to sell would depend on the stamp duty applicable in the state where the property is situated. This aspect will have to be checked up with the authority of the state concerned. In Delhi the 'agreement to sell' is required to be registered and stamp duty is payable on the basis of the consideration specified for the transfer of the property. You have not indicated the state in which you intend to buy a property and therefore, it is not possible to give a reply to your query in this regard.
Rental hassles
Q. I have signed a notarised leave and license agreement of 11 months. Licensee has sublet a part of my house to his sister and brother-in-law, which is against the clause in the agreement. Secondly, rent is not being paid by the licensee. Licensee is threatening me that he knows some powerful people and can use his connections to get me kidnapped if I start legal proceeding against him. The licensee and its family members always abuse me and my father whenever we request them to vacate our house. Also, aren't his sister and brother-in-law trespassers because they have moved into my house without my consent. I have not signed any contract with them and have not got any identification from them at all. Can I start the eviction process? Please guide me about the steps that I need to take in this regard? —
Davinder
A. The facts given in the query do not leave any other option for you but to initiate legal proceedings for the eviction of the property which has been given on leave and license basis. You can approach the court for being provided with police protection on account of the threats issued by the licensee and also for arranging the service of summons on the licensee. You are absolutely right in suggesting that the licensee's sister and his brother-in-law are trespassers and cannot occupy the property given on leave and license basis to the licensee. The same cannot be sub-let by the licensee. You should engage a good advocate for the purpose of taking steps on the lines suggested in the query. In fact, an advocate would be able to guide you much better as the queries raised by you have implications of civil and criminal law and have no relation to the income-tax proceedings.
Terms of contract
A. The proposition made by you can be covered in an agreement with the builder. The agreement should clearly provide that in case due to the circumstances mentioned by you in the query, the deal with the builder with regard to the purchase of plot (the specifications of the plot should be provided in such an agreement) does not mature, the amount of advance paid by you would be refunded within specified period from the date of the notice given to the builder for the refund of such amount. In case of delay beyond the said period the amount of advance not so refunded would carry interest at the agreed rate. In case of non-compliance of the covenants contained in the agreement by the builder, you will have a right to go to court for a specific performance of such an agreement. The issue raised by you has legal implications. I would, therefore, suggest that before taking any action on the lines suggested hereinabove, you should consult an advocate who is handling real estate matters.
Email your queries to realestate@tribunemail.com
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The “populist” decision of slashing down the property tax by almost 50 percent taken by the Punjab government earlier this week has brought some cheer for the people of the state. Though the reduction in property tax may not be able to give any fillip to the sluggish real estate sector in the state, it has definitely brought some relief to the common man.
Earlier this week, the state government decided to reduce property tax imposed on all categories of properties, simplify the procedure for calculating tax; and, de-linked the property tax from the collector rate.
The beginning of Navratras also marks the beginning of a hectic promotional phase for developers as the expectations of deals being finalised during the auspicious days become sky high. After lacklustre performance on the sales front during festival season over the past two years this year the developers are hoping for a better response from end users and investors in view of the improved economic and political environment.
Even the buyers are scouting for good deals as the festival season is the time when the developers put the icing of attractive offers and discounts on their ‘inventory cake’.
The “populist” decision of slashing down the property tax by almost 50 percent taken by the Punjab government earlier this week has brought some cheer for the people of the state. Though the reduction in property tax may not be able to give any fillip to the sluggish real estate sector in the state, it has definitely brought some relief to the common man.
The Punjab Cabinet gave a nod for amendments in the Punjab Municipal Act 1911 and Punjab Municipal Corporation Act, 1976 which allows exemption from tax to all properties measuring upto 50 sq yds and single storey houses on upto 125 square yard, flats for poor (upto 500 square feet super covered area). Religious places, cremation grounds, orphanages, historical buildings, all government health care centres, and old age homes, too, have been exempt from paying tax. 
The beginning of Navratras also marks the beginning of a hectic promotional phase for developers as the expectations of deals being finalised during the auspicious days become sky high. After lacklustre performance on the sales front during festival season over the past two years this year the developers are hoping for a better response from end users and investors in view of the improved economic and political environment.
Owning a house is a dream for many, a decision close to heart and one of the most aspired investments ever. Having a house of your own feeds your pride, giving a sense of satisfaction and security. And this is the reason why, many people feel “wouldn’t it better to pay an EMI and own a property, than paying a rent?” While there is a merit to this question, the answer is not always yes. However, in most cases “emotions” tend to dominate the “economics” involved in making a choice to buy or rent a house.
Every home tells a story of its own that's unique and during the festive season, this story reaches out explicitly as the decorations of every home reflect the tastes and personality of people residing in it. However, the desire for protection and positivity should not come from fear, but rather from the understanding that there is a wide variety of energies around us, and some of those energies are best left outside your own energy field.
Stimulating, energetic and vibrant, the colour red demands attention. Red is the colour of good fortune, you invite prosperity when you paint your front door red. You can gain the same effect even if your decorating scheme calls for a more muted shade of red, such as pink or plum. You can add freshness to your house this festive season by painting the front door red. The colour keeps you in a good mood and also makes your house look like a completely new place.
However, there are a few who believe that hanging it upside down allows all of the good luck, protective powers and good fortune
to shower upon you and your house.
Real estate firm Lotus Greens Developers will build four new projects in the NCR with expected sales of
Rs 4,400 crore over the next four years. The firm was founded last year by Nirmal Singh, one of the promoters of another realty firm
The 3C, has acquired 925 acres in Delhi-NCR for real estate projects.
Realty firm Parsvnath Developers has sold 140 acre land at Sohna, Gurgaon, to Supertech Ltd for
Rs 665 crore as part of plans to divest non-core assets to cut debt and complete ongoing projects.
ACIL (Ahluwalia Contracts India Limited),
one of the leading Construction Companies in the country, has entered into a Technical Collaboration with KUB-STROY, Russia, recently for high speed pre-cast construction using KUB 2.5 technology.
Q. An NRI friend of mine has booked a flat in NOIDA and I am forwarding all payments from his account to the developer. My friend desires to appoint me as his GPA to take possession and get the conveyance deed done in his name and subsequently manage the property as per his wishes. Can he execute a GPA in my favour?
— Harminder Singh
Q. Short-term capital gain of Rs 9,10,000 ( Rs 20 lakh - 10,90,000 sale price) is to be converted into long-term capital gain. I have some suggestion in this regard:
Q. Kindly intimate the value of stamp papers required for preparation of agreement to sell, if the total consideration amount is little less than Rs 25 lakh. Also let me know whether the registration of the agreement with the revenue authorities is mandatory. Prevailing position in 2007 may also be intimated. —
K.V Lall
Q. I want to buy a plot from a builder for which I will have to pay 25 per cent in advance and the remaining 85 per cent is to be paid via loan. I just want to have some documentation with builder to ensure that I get my advance payment back in case I fail to get a loan for the rest of the amount for any reason/or if the deal is not struck between me and the builder. Kindly suggest some way
for this. — Ashok Kumar