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Sailing after the slump
real reax: increase in floor area ratio in delhi
tax tips decor trends Ground Realty
realty bites
project watch
launch pad
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Sailing after the slump
Property business has started flourishing gradually in Haryana in general and in Panipat in particular, after slump of about three years.
“We faced so much difficulty in running our business as there was virtually no sale or purchase of plots, houses or flats was happening during the past three years due to slump in the market. So much so, several property dealers, including me, were thinking of changing our business but suddenly the real estate market has started flourishing now. Thanks to the formation of stable governments at the Centre and in the state”, says Naveen, a leading property dealer based in the city. “Two major projects that are being set up at Panipat and in the adjoining district of Karnal too have encouraged people to buy properties in Panipat,” he added. As connectivity is a major trigger for real estate growth any announcement in this regard always have a positive impact on the property value of an area. The clearing of decks for a high speed train to be run from Kashmiri Gate in Delhi to Panipat Refinery a few months ago is one such growth driver according to the market watchers. This high speed train will cover the 111-kilometre distance between Kashmiri Gate and Panipat Refinery in just 72 minutes. The work for this project is already on. Secondly an announcement was made to set up a domestic airport at Kunjpura in the adjoining Karnal district a few months ago. Kunjpura is just 25 kilometre from Panipat. So the residents of Panipat will also benefit from this airport. The work for giving a practical shape to this project is already on and the domestic airport is likely to be constructed within the next few years. So apart from the buyers who need houses for immediate living, several persons have now started investing in property in Panipat keeping in mind these two projects that will improve connectivity to the area, said Dhara Singh, another city- based property dealer . Increasing awareness and demand for a better lifestyle are the other factors that have increased demand for newly developed townships and residential societies in this area. Several residents of old localities that have narrow lanes and inadequate civic amenities are gradually shiting towards the well-planned colonies on the ourskirts having wide roads and ample green areas. They are also investing in plots, houses and flats in the newly developed colonies. So, all these factors have given a boost to property business in Panipat in the recent past. However, in the absence of any major housing project launched by the Haryana Urban Development Authority (HUDA) in Panipat recently, the buyers are left with no option but to invest in the properties developed by private builders. Interestingly, Haryana CM also urged private builders in a function in New Delhi a few days ago to build affordable houses for the masses in various parts of the state as according to him, the state government can not meet the increasing demand of new houses on its own. So, currently a number of residential properties, apartments, flats, houses, villas and plots are available in the various colonies developed by private builders. TDI, Eldeco, Parsvnath, Ambience, Ansal API, Redpro Group Housing, Splendor Forum, Herman Properties Limited, Golden Bricks and Pardesi Group are some of the developers who are coming up with residential and commercial projects in this area. Expressing concern over the free run being enjoyed by the private builders due to lax government policies, Devendra Kathuria, who has recently invested in a plot in the city, says that buyers have to be very careful about the terms and conditions mentioned in the sale deeds while dealing with the private builders. “Buyers should be aware of the hidden charges imposed by some of private builders even several months after buying the residential property”, said Kathuria. Mentioning his case he said the private builder took internal development charges (IDC) and external development charges (EDC) from the buyer at the time of buying residential property but usually they did not deposit the IDC and EDC with the town planning department of state government on time. So the town planning department imposed penalty on the builder and the builders are now asking the buyers to pay this on the plea that IDC and EDC charges had been increased by the government. Similarly some private builders also charge holding charges, security charges and club charges afterwards while there is no mention about such charges at the time of purchasing the property. The buyer felt cheated while depositing such charges, Kathuria added. Suggesting that the new buyers should be aware of such charges and clarifywith the private builder at the time of buying residential properties in order to avoid any harassment in future, Kathuria also urged the state government to keep a check on private builders to stop them from taking hidden charges from the buyers afterwards.
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real reax: increase in floor area ratio in delhi
The Central Government’s approval for the proposal to increase the FAR in Delhi state recently has got a positive response from the industry players. The increase in FAR is for residential plots which are 750 square meters or higher, wherein the FAR has been increased to 200 from 150. For plots bigger than 1,000 square meters, the FAR has gone up to 200 from 120 and ground coverage has been increased from 40 per cent to 50 per cent. This move will result in bigger apartments — and with no change in density norms, ticket-sizes may rise as well. Rohit Raj Modi, President, Credai NCR, said, “On behalf of the industry, we welcome this move as it will address the rising problem of providing accommodation to all and in realising the dream of ‘Housing for all by 2022’. This extra FAR would definitely help developers with extra space and thus would help match the demand and supply gap in Delhi”. Commenting on the impact of this move Anuj Puri, Chairman & Country Head, JLL India, said, “If used judiciously, this provision in conjunction with the increased FAR can be utilised for increasing the housing stock on residential plots going forward. Only then will some movement towards creating more houses and an associated reduction in prices will be likely. With height restrictions for individual residential plots not increased from the current 17.5 meters along with stilt parking provisions, developments are likely to remain of same height”. Calling it an opportunity for more vertical growth Vinay Jain CMD AVJ Group, “We appreciate the decision to increase the FAR, though it will only have figurative difference on the real estate market. FAR has been increased from 150 per cent to 200 per cent on 750-1,000 sq. m plots, it has been raised from 120 per cent to 200 per cent for plots of 1,000 sq. m and above. The additional FAR allowance will be valuable for redevelopment in projects. It will positively bring in more supply in the market and create outlook for more affordable housing, this is also an opportunity for developers to grow vertical.” There is also likely be an impact on group housing plots, where ground coverage that was previously 33.3 per cent will now be 50 per cent. This will allow for bigger apartments to be built, though FAR here was already 200 under the master plan. No height restrictions were applicable for group housing plots, and hence there is no issue for such developments with regards to height provisions. A sizeable uptick in the stock prices of listed players which are likely to be holding prime lands in Delhi — notably DLF, Unitech and Anant Raj — has been seen. “Better valuation for such land on account of increased FAR for residential plotted developments is the likely factor behind this increase in their respective stocks. The impact may be seen in the short-term, but there should be more going forward when the mid-term review of the master plan 2021 is completed and the changes notified by the end of the year”, added Puri. Experts are, however, keeping their fingers crossed about the exact impact of this move on the property prices as it will be clear once the issues of change in density, number of dwelling units and height are addressed in detail. Though no clarity has been given so far on an increase in the dwelling units allowed on the larger plots, there is a provision in the draft Delhi Master Plan 2021 which allows for an increase in the number of dwelling units. Under this provision, the cost of a concurrent augmentation of associated civic infrastructure has to be borne by the developer and paid to the authority. “This provision in the draft master plan can be used to increase the number of dwelling units”, added Puri. Mohit Goel, CEO, Omaxe Limited said, “The increase in FAR will encourage vertical and new development in Delhi. It is a good move by the government to allow more space for development. This will help stem the rise in price of homes in Delhi and give a boost to affordable housing. However, this move will put immense pressure on Delhi's infrastructure and resources for which the government must think ahead.” “We think that increase in FAR shall be effective if it is accompanied by increase in dwelling units, density and height, said
Modi.”
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How much LTCG tax should my wife pay? S. C. Vasudeva Q. My father-in-law had left a residential property in his daughter’s name through a registered Will. He had constructed that house in 1989-90. He expired in November 1995. The house was sold in 2012 for Rs 30,87,500. The cost of acquisition of the house was Rs 3,96,894 and the expenses incurred on sale were Rs 60,000. Out of the sale proceeds a sum of Rs 30,00,000 was deposited on September 19, 2012 and Rs 1,50,000 on January 3, 2013 under the long-term capital gain scheme under Section 54 EC. Exemption was availed for two years to purchase another residential property. However, my wife could not purchase the property within a period of two years as prescribed under the income tax law. Now she wants to pay the long-term gain tax. Kindly let me know the tax liability, including interest, if any, to be paid to the department. — A.S Anand Your wife will have to pay tax for the assessment year 2015-16 (financial year 2014-15) on the said amount of
Rs 10,61,490 @ 20 per cent plus education cess of 3 per cent thereon. The amount of tax would work out as
Rs 2,18,667. There would be no interest chargeable in case the aforesaid amount of tax is deposited in two installments i.e. on December 15, 2014 and March 15, 2015 in its entirety. Q. I was allotted a house by the Greater Noida Authority in November, 2007. The total cost of the house was
Rs 42,34,650. The house was to be constructed by the authority and its possession was to be handed over to me within three years of the allotment. However, I was supposed to make the full payment (plot + house) within three months of the date of allotment. The details of my expenditure on this house are detailed below: 1. Initial payment on December 18, 2007:
Rs 4,25,000 2. Remaining payment on February 26, 2008 : Rs
38,09650 This includes a loan of Rs 25 lakh from LIC, which has now been fully paid in the form of 73 EMIs (March 2008 to March 2014) of
Rs 27,198 and pre payments of Rs 3 lakh, Rs 8 lakh and Rs 6,33,491 on 4/2/2012, 8/1/2011, and 28/3/2014, respectively. 3. June, 2011, Water charge, PLC and document charges:
Rs 1,39,520 4. March, 2012, Registration charges: Rs 2,08,000 5. Compensation paid to the farmers on behalf of authority (Nov 2014):
Rs 2,93,000 Due to delayed construction, the possession certificate however, was given on June 29, 2011 and I started taking tax rebate against loan interest from 2012. Now I am selling this house for
Rs 63.5 lakh. What will be my tax liability? a) The figures of EMI in respect of equated monthly installments have been given in the query. It is not possible to ascertain the amount of interest included in such installments. Therefore, the amount of interest could not be added to the cost of the house. b) The amount of
Rs 1,39,520 paid towards water charges, PLC and document charges has been included as part of the cost for computation of the indexed cost on the assumption that these initial payments are also part of the cost of the house. c) Compensation paid to farmers amounting to
Rs 2,93,000 has also been included as part of the cost, assuming that this amount is not refundable to you by the Greater Noida Authority. Q. Our family has an inherited house which is more than 100 years old for which no registration record is available. If the family decides to sell the house and transfer the sale proceeds to HUF, can it avail rebate by investing the long-term capital gain in purchasing a new house. Please further clarify the following points:
A. Your queries are replied hereunder:
Rebate on loan against term deposits Q. I am a senior citizen and I had booked a flat in joint name with my son for
Rs 125.00 lakh during 2013-14. As per terms of agreement 35 per cent of the payment was to be made with in six months from the date of booking and the balance 65 per cent at the time of possession of the flat. I had paid 5 per cent as booking amount and 15 per cent payment was made within three months during F.Y. 2013-14 and another 15 per cent on May 19, 2014. I took demand loan of
Rs 15 lakh against term deposits in my name for making payment of installment of
Rs 19.09 lakh due on May 19, 2014 at interest rate one per cent higher than the term deposit rate i.e. 11 per cent. I am also paying TDS on the interest accrued on term deposits and am calculating my taxable income after adding interest accrued on term deposits along with my pension at the time of filing my income tax return. The possession of the flat is expected after one year. Kindly clarify the position on the interest paid by me on the demand loan against term deposits can be claimed against interest accrued on term deposits during the assessment year 2015-16 for making payment of installment for flat with regard to provisions of income tax laws. —
R.P. Setia A. The amount of interest paid on demand loan of Rs 15 lakh against term deposits has been raised for making payment of installment which was due on May 19, 2014. The amount of interest paid on such a demand loan would be taken as an increase in the cost of the flat booked by you. It may, therefore, not be possible for you to claim the amount of interest paid as deduction against your total income as the amount has not been borrowed for the acquisition of a residential house. It may also not be allowed as a deduction against the interest earned on the term deposit as it does not have a nexus with the amount of interest earned.
email your queries to realestate@tribunemail.com
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Metallic inspiration
Meenakshi Taneja Lighting fixtures, room furniture, decor accessories and decorative materials make architectural interiors more functional and beautiful. The trend for this season will talk volumes about the modernity of shapes and sizes packed with glamour, metallic leather, pleated furniture, statement dining tables, and splash of colours. The new rage this season is adding a touch of metallic glint to your interiors. Everywhere you look metals are a hot trend — from the warm gold, brass, and copper accents to the cool chrome, nickel and stainless steel applications there is no doubting that metals are here to stay! From hammered copper countertops to custom kitchen backsplash tiles, copper is the answer to the warm aesthetic questions in your head. While fireplaces are known for their natural rock, brick or tile surrounds there is an emerging trend to bring copper to your fireplace area as well. Consider using reclaimed copper sheets from other home renovation projects or seek out an artisan or kitchen range hood welder who may specialise in copper trim applications for your interiors. Lighting fixtures such as chandeliers, wall sconces and pendant lights are showing off their new golden hues and bringing these into your home along with darker hues will add a dramatic flair to your interiors. Depending on your design style there’s a variety of plumbing fixture styles to choose from whether it’s the traditional with ornate detailing or the minimalist modern styles to suit your contemporary home.
Hues and fabrics
Along with the metallic touch colours, too, are making a statement in homes. Leave gray, beige and grudge in the rearview mirror in favour of deeply-saturated hues like navy and plum. In fact, navy is considered a new neutral for its ability to blend with other colours and styles. If a darker shade on the wall seems too scary, start with a piece of furniture like a sofa or sectional as your focal point and work from there. It’s time to feel the rich ness of the season with luxury fabrics simple leaving cottons and linens and embracing the luxurious velvet and earthy suede. These fabrics are sophisticated yet durable, and can hold up to the darker colour schemes. Go easy on accessories Less is more when it comes to decorative objects around the house. This year try leaving behind kitschy, purposeless accessories. Choose objects, artwork and photos with personal significance to keep your decorative collection from getting out of hand. Branch out beyond framed prints and make your 2014 art collection stand out. Sculptural pieces add dimensionality to your walls. A range of materials and textures like felt, horn, ceramic and even macramé create unique focal points and conversation topics. For many years, dark tones like mahogany and cherry dominated the wood furniture market. This year caramel and honey tones have taken the spotlight. The softer look blends with any design style and keeps furnishings from feeling heavy or fussy. Pattern is making a comeback. Do not over focus on colour blocking as historic patterns are being recreated with the strongest new trend. Foresee fabrics and wall coverings bringing small and massive floral with white backdrops, vintage prints with a twist of white, bold colours and patterns thrown onto a white canvas. With regard to patterns the trend will be to clash your fabrics and stimulate the senses, this goes hand in hand with the yellow trend. Have more fun with your palette by throwing together stripes, floral, hand sketches and geometrics in an array of colours and textures. — The writer is Executive Director,
VRIETI
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Conceal cleverly Jagvir Goyal A number of items and materials get hidden or "go" under cover during the construction of a house. Some items are to be compulsorily hidden, while others are covered for aesthetic purposes. Extra precaution needs to be taken while doing this because any problem in these at a later stage can result in a lot of hassle for the home owner. Let's have a look at some of these items: Trap covers Precautions: Whenever such an arrangement is made, the plumber needs to take care that the drainage and sewerage system laid by him is flawless. He should see that proper slope has been given to the pipes, the joints have been made leak proof and no dirt or garbage enters the pipes as it will accumulate in the gully traps and block them. The flooring man should create angle shaped marks exactly defining the four corners of each cover in the floor topping. These marks should be permanent sort, created with a chisel or machine and should always remain visible. In case a problem is faced at some stage due to blockage of a gully trap or manhole then the floor topping can be cut off along these marks to remove the cast iron cover and tackle the problem.
Rainwater pipe system Till a few years back, all the rainwater pipes coming down from the terraces were discharged in the open by jointing a bend at the lower end of each of the pipes and then creating a raised concrete platform below each pipe to receive the rain water from the pipes and to allow it to flow out into the open. With the provision of rainwater harvesting system becoming mandatory, the discharge of rainwater pipes into the open has been stopped. The vertical rain water pipes are now joined with horizontal pipes laid to slope below the ground floor level. These horizontal pipes then lead to the rainwater collection chamber. So all the rainwater drainage system has now become hidden. Precautions: Under the hidden rainwater disposal system, it has become more important for the house owner to ensure that none of the vertical rain water pipes hidden in the walls gets blocked with dust, dirt, stone grit, bird droppings or leaves etc. Rooftops and terraces are often the most neglected areas of the houses and sometimes don't undergo cleaning operation for weeks together. In houses where the rooftops and terraces are inaccessible, this problem is more acute. It should be ensured by the house owners that the top of rainwater pipes are provided with iron gratings fixed over them so that no big stone or debris enters the vertical pipe and blocks it. Further, the roofs and terraces should be got cleaned at regular intervals and during this cleaning operation, the tendency of sweeping the dirt into the rain water pipes should be avoided strictly.
Submersible pump system In most of the houses, the submersible pump is provided many feet below the ground level to draw water and to pump it to the overhead tank. Even if the municipal water supply is available, such a system is created as an alternative water supply system for use in case the municipal corporation’s tubewell is not working. A chamber is created at ground level at submersible pump location and covered with a 2 feet X 2 feet cast iron cover. Often, flooring is laid over this cover also. Good quality pumps don’t get damaged for years together and there is no need to take them out ever. However, to take care of the situation when the pump or its winding gets damaged, get the corners of the cast iron cover marked on the flooring also so that the flooring could be cut along these marks when required. Otherwise, the flooring portion can be got cut in the first instance itself and laid loose over the CI cover.
Conduits under false ceiling Precautions: Special care must be taken by the electrician in laying the wires in the conduits above the false ceiling. Preferably, there should be no joints in the wires laid in the conduits above the false ceiling. Such joints, howsoever well covered with insulation tape may create trouble at some stage when the gum of the insulation tape loses its grip, the joints become naked and lead to a short circuit. Electrician should also ensure that he has not missed laying any wire in the conduits. Similar precautions should be taken for air conditioning work also. In case some LED strips are to be added to the false ceiling, connections for the same should also be completed.
— This column is published fortnightly
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realty bites
The Punjab Cabinet earlier this week approved the setting up of Punjab State Affordable Housing Development Authority under the Chairmanship of Chief Minister for providing “affordable housing for all”. A decision to this effect was taken by the Cabinet in a meeting held under the chairmanship of the Punjab Chief Minister Parkash Singh Badal in Chandigarh. The authority would construct one lakh dwelling units for the poor in the state in the next two years with special emphasis on providing housing to the economically weaker sections (EWS), Lower Income Group (LIG) and other vulnerable sections of society such as Scheduled Castes, Backward Classes, Minorities, senior citizens and physically challenged persons in the state. The Deputy Chief Minister or Housing and Urban Development Minister, Local Government Minister, Finance Minister, Labour and Employment Minister, Rural Development Minister and Chief Secretary will be the members of the authority, while Secretary Housing and Urban Development would be its Member Secretary.
Puravankara to develop Rs
500-crore project Realty firm Puravankara Projects has entered into a joint venture for developing a 30-acre,
Rs 500-crore housing project in Pune. Bangalore-based Puravankara group has formed JV with Pune-based Oxford Group and Mumbai-based EKTA World. “We have entered into joint venture for the development of 30 acres of prime residential land in Mundhwa, east Pune,” Puravankara Projects Joint Managing Director Ashish Puravankara told PTI. “We will be developing about 1,600 housing units covering 2 million sq ft area. The project is likely to be launched by March next year after getting necessary approvals and it will be delivered in four years,” he added. Puravankara is currently developing 25.52 million sq ft of projects and nearly 80 million sq ft is in pipeline over the next 7-10 years. Apart from Bangalore, the company has presence in Kochi, Chennai, Coimbatore, Hyderabad and Mysore. It is also developing project in Sri Lanka.
MoU on green buildings International Finance Corporation (IFC), a member of the World Bank Group will work with the realtors’ apex body CREDAI to promote development of green buildings in the country. An MoU to this effect was signed in the presence of Minister for Environment and Forests Prakash Javadekar, IFC said in a statement. “IFC and the Confederation of Real Estate Developers' Associations of India (CREDAI) have partnered to promote green buildings in the country through IFC's EDGE certification,” it added. EDGE, which stands for 'Excellence in Design for Greater Efficiencies, is a standard that focuses on energy and water efficiency in buildings. As per the agreement, CREDAI will encourage its members, including local chapters, to incorporate resource efficiency in their design using EDGE. To qualify for the certification, these efficiencies must result in savings of at least 20 per cent in energy, water, and materials over the local standard practices. IFC would train members and share global best practices and knowledge with CREDAI on green building technologies. “This partnership has the potential to transform the housing market and put India in a leading position to apply a green rating system for homes on a large scale,” CREDAI President (Elect) Geetamber Anand said. — TNS
Govt eases norm on purchase, sale of leasehold properties The revenue department has asked all registrar offices to allow purchase and sale of leasehold properties and the decision came into effect from today. Though, there were restrictions, transactions had been taking place through general power of attorney. Officials said properties that have changed hands but were registered through power of attorney or sale agreement will be allowed for sale and purchase transactions. The Revenue Department had forbidden purchase and sale of leasehold properties in 2011. “It is clarified to all Sub-Registrar that under Section 17 (1-A) of the Registration Act, the documents containing contract to transfer for consideration any immovable property is compulsorily registrable document if having been executed after the commencement of Registration (Amendment) Act 2001, (w.e.f. 24.09.2001). “An agreement to sell in respect of immovable property is covered under Section 17 (1-A) of the Registration Act and is a valid document to be registered if so desired by the parties and as such all these documents cannot be refused by Sub-Registrar,” the circular said. The decision is likely to benefit lakhs of property owners in the national capital as they will be able to sell their properties. The government decision, experts said, may fuel hike in property prices. The property owners had been demanding relaxation in the norm for many years and now the decision will benefit areas such as Rohini, Vasant Kunj, Dwarka, Janakpuri. The Delhi Development Authority (DDA) owns such leasehold properties and the restriction had been imposed after commercial activities were reported in some of the colonies owned by the agency. DDA officials said the decision will help owners of leasehold properties in a major way. — PTI
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project watch
Wave City Center, the 152-acre township in Noida Sector 32 and 25A being built by Wave Infratech, announced the launch of a new subvention scheme with 20:80 financing options. With this the buyers/ investors now have the option of booking 3 & 4 premium serviced residences in Amore by paying 20 per cent on booking and no EMI till possession. Amore offers luxury residences available in 3 and 4 bedroom options with a wide variety of luxury features. Talking about the subvention scheme, C.J. Singh, Senior President, Sales & Marketing, Wave City Center said, “With the launch of the 20:80 scheme at Amore, Wave City Center is trying to initiate a concept of making luxury within the reach of customers. We have tied up with Reliance Capital to finance 80 per cent of the home cost; and as per general financing laws the customer should be eligible for the pre-approved loan from Reliance Capital to make the most of this offer”.
Tata Value Homes ties up with Housing.com Tata Value Homes, a subsidiary of Tata Housing, has tied up with realty portal Housing.com to sell homes online. The partnership will allow customers of Tata Value Homes to use Housing.com’s 3D rendering platform ‘Slice View’ to check the properties offered by the former. Tata Value Homes has listed its four projects in three cities, including Bengaluru, Chennai and Pune, on the portal and the average price of the flats is around
Rs 30 lakh. Tata Value Homes, which started selling homes online last December as a part of Google’s Online Shopping Festival, has also tied up with Snapdeal.com and launched its own e-commerce platform tatavaluehomes.com to sell its properties online. It has so far sold 700 homes online, generating over
Rs 300 crore in the value, which is almost 45 per cent of its sales.
Omaxe plans to raise Rs
100 cr via debt securities Realty firm Omaxe plans to raise
Rs 100 crore through private placement of debt securities in order to fund construction activities of its ongoing projects. The company’s board will meet on December 2 to consider a proposal to raise funds through issue of debt securities on private placement. When contacted, Omaxe Chief Executive Officer (CEO) Mohit Goel told PTI, “We are looking to raise up to
Rs 100 crore through non-convertible debentures. We are taking up this proposal to the Board for approval”. He said the company would utilise the fund on construction activities of the existing projects. Omaxe has a land bank of about 4,400 acres in 30 cities across nine states. The Delhi-based firm is executing 42 real estate projects that include 18 townships, 14 group housing and 10 commercial. Omaxe posted 24 per cent decline in its consolidated net profit at Rs 13.88 crore for the second quarter ended September 30 against
Rs 18.15 crore in the year-ago period.
DDA to launch bigger housing scheme in 2016 Even while it wrapped up the draw for its biggest housing scheme ever on Tuesday, DDA has already started planning for the next housing scheme. DDA is expected to offer more than 35,000 flats in its next housing scheme, which is likely to be launched in mid or end of 2016. The flats would be mainly located in Rohini, Dwarka and Narela apart from Vasant Kunj, Sheikh Sarai, Defence Colony and Kalkaji. According to DDA Vice Chairman Balvinder Kumar the 2016 housing scheme is going to be even bigger than the latest one with over 35,000 units. According to officials most of these flats would be one bedroom type, meant for the economically weaker section (EWS) category. However, there would also a sizeable number of two bedroom and three bedroom flats on offer. The prices of the flats are expected to be 15-20 per cent higher than the flats offered in the 2014 housing scheme but would be much more lower than prevailing market rates. Apart from Rohini, Dwarka and Narela, where DDA has large tracts of land in its possession, flats in smaller pockets would also come up in other parts of the city where the land development agency has scattered vacant land. — TNS and Agencies
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launch pad
Delhi-NCR-based real estate developer Airwil Group hads launched a commercial project ‘WoW or World Of Wishes’ at Mohan Nagar, Ghaziabad. The group already has several state-of-the residential, commercial and retail projects running across the region. World of Wishes will offer a wide range of options including retail spaces, commercial spaces -office and studio apartments. Spread over 2.5 acres WoW is a green building project and is expected to be delivered by December 2017 and property options are available at
Rs 13000 per sq ft (bsp) onwards.
Meadows Villas on
Noida Expressway NCR-based developer Mahagun Group has recently launched the premium range of signature villas at Meadows, located at Sector 150, Noida, just off the Noida-Greater Noida Expressway. Spread over a 7-acre golf centric landscape, each of these villas in bareshell and finished options will be spread across 4,900 sq. ft. The 28 state-of-the-art villas are contemporary in design and will have double height living rooms, five bedrooms, a family lounge on each floor and a private garden with swimming pool, dedicated home elevator etc. The project has been designed by Hafeez Contractor. Meadows is a certified green project conforming to “GOLD” standards of “IGBC” and a Vaastu-compliant site.
Biz Life in Noida Proplarity Group has forayed into NCR real estate market with its first commercial project, Biz Life in Sector-62, Noida. The project spread over 5 acres will have retail, commercial and IT/ITeS space in the 35-storeyed building. The price of office spaces starts from Rs 6,750. —
Based on information provided by developers
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Property business has started flourishing gradually in Haryana in general and in Panipat in particular, after slump of about three years. “We faced so much difficulty in running our business as there was virtually no sale or purchase of plots, houses or flats was happening during the past three years due to slump in the market.”
Jagvir Goyal
“This area is going to be on the growth radar over the next few years as Karnal is the constituency of the new Chief Minister Manohar Lal Khattar. So the people of Panipat also expect development of the adjoining district of Panipat during his tenure and this factor is encouraging buyers to invest in properties in Panipat,” added Dhara Singh.
A.
Based on the facts mentioned in your query the indexed cost of the property would work out at
Rs 19,66,010 on the basis of the data given in the query. The amount of net consideration being
Rs 30,27,500, the amount of capital gain would work out at Rs 10,61,490. 
A.
On the basis of the facts given in the query a long term loss of Rs 22,66,165 works out in respect of the intended sale of the house for
Rs 63.5 lakh. It may be added that the above computation has been made after taking into account the following issues as the relevant particulars have not been given in the query.
Each year we see a flurry of new home trends hitting the markets. The high street offers a wide array of furnishings and accessories to balance the personality of your home as well as the idea of a living space that goes hand in hand with dynamic fashion. 
If you want to add glam to your bedroom, try adding golden metallic wallpaper that has a slight sheen behind your bed as an eye-catching accent wall. 
There was a time when gully traps and manholes provided for sewerage and drainage purposes were covered with cast iron covers and no flooring was laid over these covers. But nowadays in most of the houses, the courtyard flooring is laid over these covers also. The plumber keeps the top level of these gully traps and inspection chambers or manholes at such a level that the flooring base material and topping could be laid over it. Thereafter, the flooring man does his job and lays the floor over the cast iron covers.
Whenever POP false ceiling is provided in part or full area of the house, all the electrical conduits and wires are laid above the false ceiling. Wherever required, these conduit ends are taken out of POP ceiling to attach the lights, fans or chandeliers to them at a later stage. Like the conduits for electrical fixtures, the air conditioning ducts or cooler ducts are also laid above the false ceiling. For hanging chandeliers, certain chains are to be hung from the hooks provided in the roof. These chains are also hung and taken out of the false ceiling. The area above the POP false ceiling becomes inaccessible after completion of false ceiling.
In a major relief, the Delhi government has lifted restriction on sale of leasehold properties which will benefit lakhs of property owners and may trigger hike in real estate prices.