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Checking in retirement resorts
A growing number of financially independent senior citizens now prefer to stay in retirement resorts instead of languishing in the quintessential old-age homes that they feel are “overcrowded” and “unsafe”.
Insecurity, loneliness and lack of companionship — some of life’s hard-to-swallow problems — become a daily reality for these elderly persons whose children either settle abroad, or in some other state, for better career opportunities. The concept of retirement resorts or complexes is gradually emerging as the most viable option among the senior members of society who are financially independent. They want to live with dignity and, above all, want to be secure. “Retirement resort is a new trend in India for people whose children live abroad or have transferable jobs. These resorts, apart from providing luxurious facilities, provide companionship and security — the two things most needed when you are old,” Chief Executive of HelpAge India Mathew Cherian., told IANS. R. Thiruvengadam, 78, and his wife, Kanaka, sold their house in Chennai in 2003 to shift to a flat in Classic Kudumbam, a retirement complex situated in Sholinganallur on the outskirts of Chennai. “People retire from work, not from life. I think most of the old-age homes present a pathetic picture, housing an abandoned lot. These resorts not only provide facilities and comfort, they provide security,” Thiruvengadam points out. Classic Kudumbam Director Rajesh Shankar says: “Seniors are often caught between the need for safety, access to medical care and other basic comforts. Their children are often not there to provide the care and security they need. This retirement resort offers a gym with age-friendly flooring, swimming pools with double gripping, prayer centres, medical centres, paramedics and emergency services.” Classic Kudumbam also offers a week-long trial stay for prospective residents — an opportunity to examine life in the community up close. Cherian, however, says: “These resorts are meant for the upper class only who have the money and resources to buy an apartment there”. Disagrees Ankur Gupta, Executive Director of Ashiana Housing, a Delhi-based real estate firm that is building India’s first retirement resort in Lavasa (Pune), Bhiwari and Jaipur (Rajasthan) called Ashiana Utsav. “We have a clientele from the middle-class segment as well, the apartments range from Rs. 6 lakh to Rs. 2.5 million,” says Gupta. “We studied the market before venturing into this business and found that the demand for such retirement complexes and resorts was on the rise,” emphasises Gupta. The company already has over 500 bookings from clientele from across the globe. “The idea is to bring everything at their doorstep without them having to go through the trouble and inconvenience,” he adds. Rajeev Mehrotra, 51, an engineer with Indian Airlines, told IANS: “I don’t think buying a flat in these resorts is expensive at all. My wife and I plan to shift there after we retire. I believe staying independently will strengthen the bond with my children. Moreover we will get to spend time with our age group,” he adds. According to a HelpAge India estimate, there are nearly 4,000 old-age homes in India now, and with the current rate of demand this is going to double by 2010. Ashok Gaur, who has also bought a flat in the Ashiana retirement resort entirely from his savings, says: “I believe you have to have your own resources to stay with dignity when you are old and not earning.” “Because no matter how much love and affection you give to your children, you really don’t know if they will take care of you once they grow up.”
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Residential realty index on anvil
An exclusive index, NHB Residex, for residential property prices is being developed to bring transparency in property deals, says NHB Chairman S.Sridhar
The National Housing Bank plans to launch a reverse mortgage scheme this year targeting senior citizens who can receive a secure income from their assets by availing of the scheme. “We plan to unveil a reverse mortgage scheme for senior citizens by the year end,” Chairman S. Sridhar told reporters. NHB has prepared a draft on the scheme and submitted it to the Reserve Bank of India for its approval. This product would be the first of its kind, he said. NHB intends to support primary lenders such as banks and housing finance institutions (HFIs) to implement the product by providing refinance to primary lenders. It also guarantees the obligation of primary lenders towards senior citizens. “The scheme has been discussed with the banks and actual delivery would depend on them,” he said. Senior citizens, aged 62 or above, opting for reverse mortgages would get a steady income flow for 15 years against their home value. The mortgage scheme would aim at monetising the value of the home owned by a senior citizen and the value would be done on the basis of the market rate. The proposed scheme intends novel financial support in absence of social security for senior citizens. The demand for housing will remain strong in India over the next 12 months but prices may come down in some big cities, the chairman of the regulator for housing finance companies said. Mr S. Sridhar said: “The demand for housing will remain strong though there may be some downward adjustment in prices of housing units in some metropolitan cities in the medium term.” He expected house prices in smaller cities would continue to rise due to property shortages. NHB, which is a wholly owned subsidiary of India’s central bank, estimates the overall housing shortage at 31.1 million units, particularly in rural India. The apex regulator for home loan companies, is developing an exclusive index for residential property price. “The index, to be known as NHB Residex, will bring transparency in property deals and benefit consumers,” Mr Sridhar said. A dedicated project aimed at developing such an index is on and a pilot study has already been carried out in the Delhi property
market. — TNS, PTI
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Colourful foliage of fragrance
Right choice of the climber is of utmost importance, says
Satish Narula
Amongst the entire flora available with the horticulturists, climbers are the favourite and there are reasons for it. Climbers, as the name implies, can reach and ‘enlighten’ any corner of the house whether accessible or not. A wide range of types is available, for sunny, semi-shade and full shade locations. They are available as heavy or light types. Select these for fragrance, colour, riot of blooms, or just for foliage. Above all, use them for effective screening. Right choice of the climber is, however, of utmost importance. An ill-advised planting, however, becomes an eyesore. Due to wrong placement, a climber could show poor growth or no flowering. In that case it is rendered not more than a few strings hanging on to the structure. Before site selection, one should be sure about the nature of the climber. To illustrate, in the accompanying photograph, the owner has made judicious use of climbers. The lower half of the house remains under shade due to adjoining house and the upper half fully exposed to sun. The owner has trained Golden Shower to grow at the top and Clerodendron, that grows well in shade, covering the lower half of the building. During January to April, both vines flower simultaneously and present a spectacular display. Other climbers that are suitable for sunny location are Quisqualis indica (Rangoon Creeper or Jhumka Bel ), Bougainvillea, Adenocalymma and even climbing roses. For semi-shade, you have a choice to make from Patrea volubilis, Lonicera japonica, Asparagus and Philodendrons. Patrea is a deciduous vine that sheds leaves during winters. As it awakes, it first gives a full show of blooms that come in abundance even before leaves appear. Do not be scared by tongue twisting names. You will get these vines in the nurseries by these names only. Rangoon Creeper, Lonicera and jasmines climbers are used for fragrance too and could be planted in the near vicinity of the bedroom. Some of the climbers are used exclusively for screening and are fast growing too. The screening effect could also be secured by tying a wire diagonally from the edge of wall at the base to the top of the floor and letting a climber follow the lead. Within no time, the fall will give the best type of protection from neighbour’s direct gaze. Ipomea species climbers, also called Railway Creeper, bear trumpet like blue flowers in abundance, almost throughout the year. Jhumka Bel and Vernonia or Curtain Climber are other good species to choose from. Curtain Climber gives growth in innumerable slender long twigs that hang down like curtain and can be clipped at any suitable height. This vine is suitable for covering a sunny window, door or a porch. It could also be trained on first floor of the house to give privacy or break direct sun. Bougainvillea and trailing roses could be trained for protection on the wires. They have sharp spines. There are climbers like Passion Flower that bear extremely ornamental flowers. Some also call it Ghari or Rakhi flower due to shape of the blooms. The climber is also valued for ornamental leaves that are deep green, smooth, shinning and lobed. The flower is held in high esteem by Christians who depict the flower that features ‘five angels’ and a small pink spot at the base that is the blood of Jesus and hence the name, the Passion Flower. It grows very fast. The basic problem that arises with the climbers is that these are planted mostly with no consideration for space in the floor. You may get growth in the initial years but when it is time for the climber to put forth the kind of growth desired, it stops growing. It happens in case of grapes too when it is planted in floor with a little provision for root breathing, spreading and feeding. The climbers should also be given at least five feet clearance for successful growth.
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Tagging sale label on home
A seller should put his house in order and understand buyer’s psychology, says
Raman Mohan
Buying and selling houses is no longer best left to the property dealers. While the middlemen will continue to have their role in the deals, nowadays, one needs to hone marketing and negotiating skills to get a good deal whether one sells or buys. The buyer and seller profiles have changed since the housing boom began a few years ago, thanks to lower interest rates and burgeoning pay packages. Ageing fathers no longer have the final word on what to buy and when to sell. The market-savvy new generation is taking all those decisions. In these conditions a lot depends on how one proceeds with the deal. If you are putting up your house for sale, you will need to work out a neat plan to get the best deal. First of all you must understand the basic psychology of a buyer vis-à-vis your own. You have lived in that house for years and have many fond memories of how life went by while you were ensconced in that house. So, you have emotions attached to the property. But the buyer comes with no sentiments attached for the property. To sell the house you have to ensure the house appeals to the prospective buyer.
Presentation
That brings us to presentation. Remember that the buyer starts inspecting the house right from the moment the car stops in front your house. A properly painted gate and a clearly visible name and number plate should welcome the buyer. Once he steps inside, a trimmed lawn and well-tended plants in the front lawn will make a good initial impression on the buyer. Most buyers inspect the property at twilight because of practical reasons. Make sure the driveway is lit softly from the gate to the garage. Harsh lights put off buyers. Have some lights on to make it bright and cheerful. Soft corner lighting in formal rooms is warm and welcoming. Different people have different lifestyles and habits. You may be used to an untidy house but a buyer hates a cluttered house. So keep the house tidy. Surely your clutter does not make your house less valuable, but for a fastidious young couple, it is sufficient to put them off a bit. No one likes to trip on baby’s toys or other pieces of furniture. Uncluttered rooms appear neat and spacious which makes a good first impression. Move unnecessary furniture out and keep the beds fresh and tidy. Though most buyers will hesitate to open your cupboards, as a seller it is your duty to open these and show the buyer the space inside the cupboards. The same rule applies here – tidy cupboards make themselves look bigger. Fix all broken handles and oil the hinges so the doors won’t creek. A well-maintained house gets a better price. Pay some attention to the walls. A patch here or there may need to be repainted. Do it before you expect buyers to come. Keep the floors clean and polished. Open all the windows and make sure it does not smell of stale tobacco. Hang some paintings that might go well with the bed linen. Washed curtains are a great help too. Fresh flowers in vases can brighten up even the dullest corner. Rule of the thumb: let life ooze from every corner.
Plugging leakages
The bathrooms need special attention. Once you decide you want to sell the house, call a good plumber and have all the leaky taps fixed. Pay attention to any leaks in the underground pipes. The tiles and the WCs need a close look. Have the tiles and other sanitaryware cleaned to a glimmer. An acid treatment to the WCs will make these spotless. A dirty and smelly bathroom can put off a buyer like nothing else. The same applies to the kitchen. The buyer’s wife and daughter are sure to inspect the kitchen very closely. While they might have hesitated opening your cupboards in the rooms, they will have no qualms in opening the kitchen cupboards to know what they can store where. So keep these tidy. The working platform and the stove should be clean and the exhaust fan or the chimney working. Make sure there are no unwashed filthy looking dishes in the kitchen sink. Keep the roof clean and swept. Bird droppings on a neglected roof can make the otherwise good property look aged. And lastly, keep your pets, especially large dogs away. A barking German Shepherd could hasten a buyer’s departure without a proper inspection.
Vicinity and amenities
As a buyer, before you decide to inspect a house you must decide which area of a town you want to live in. The area must have good approach roads, proper street lighting, water supply and sewerage facilities. Check for educational institutions, hospitals, shopping avenues nearby, green belts and rainwater drainage. Proximity to an industrial estate could easily mean more environmental and noise pollution. Look for proper garbage dumping and disposal facility. The availability of good public transport is an essential prerequisite. Once you have selected the area, before you inspect a house, check all legal documents like builder’s licence, approved building plans, titles, completion and occupancy certificates and other requirements from various municipal or other bodies. Make certain the taxes have been paid up-to-date and insist on an encumbrance certificate for at least a decade. If you are buying a flat or a row house in a society make sure that you are given the share certificates of ownership after the annual general meeting as these are required for loan approvals. Have a look at approvals from water supply, power boards, sewerage boards and other regulatory bodies. A valuation by a reputed valuer could help decide the price you will pay for the property. Before you finalise the deal you must verify plinth area of the apartment. Additionally, check carpet area and calculate if the difference between plinth area and carpet area is reasonable and within legal limits. If you are buying an older property, keep in mind all tips you have just read about selling a house. These would be a great help.
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Power of Attorney likely to become ineffectual
Is it the way out? R.P. Malhotra asks
To check stamp duty evasion Union Urban Development Ministry is planning to make a very vital and useful instrument of power of attorney (PoA) ineffectual. The government feels the instrument is being used to circumvent the registration. The government is likely to declare land transaction through power of attorney illegal to check evasion. Delhi will be the first state to implement the new norms. The model, framed by the Centre would be followed by other states subsequently. Existing property owners holding benami titles on PoA, under the new regime, would need to get these duly registered and regularised to freehold within a gap over period of 10 to 15 months by paying charges and stamp duty. Let us see how logical it is. Real estate is the country’s most unorganised, non-transparent and graft-ridden market. Eclipsed by faulty government policies, investors are forced to go for property transaction through indirect sales documents supported by GPA powers. Though highly dicey, it is done for two major reasons; one, to own non-transferable properties and two, for trading. In none of the cases, indirect sales have the purpose to evade stamp duty. Real estate — now more of a trading commodity — has have acquired the status of a full-fledged trade. It needs a policy for easy tradability of land and plots like other commodities. Being one of the major growth drivers and the largest employment generator, the sector needs to be freed from unnecessary, obsolete and regressive stipulations like resale embargo. Unlike other commodities where the tax burden is to be either borne by the end-user or imposed at first stage, real estate has to bear the brunt of compounded tax structure i.e., levied on each subsequent sale. Stamp duty even in case of trading in stocks is applicable on end-user at the time of physical delivery. A proposal of imposing a transaction fee/tax in the previous budget faced lot of fiasco from the brokers and the Finance Minister had to relax certain conditions. PoA is a document through which one, during his lifetime, may authorise a person to act on his behalf to do certain acts and deed as these would have been done by oneself in person. A person of extremely busy schedule, a gravely sick person, a person putting up away from the place and under many other suchlike circumstances when one cannot make oneself present to perform the act of signing the document to sell one’s property; the document of PoA becomes handy. —The writer is President of Samadhaan, an NGO — Sunil
Bandha, General Manager, Silver City “The abrogation of the GPA would spark off a host of legal problems leading to ‘multiplicity of litigations’. The GPA is the most-convenient document for the general public and in its absence, the lawyers would have to take the declarations suits for any property transactions. Given the pendency of cases with the courts, the making of declaration suits would consume a substantial time of the courts. Currently, the executive
magistrate and notaries can prepare the GPAs which are valid.” — Arvind Thakur, a Chandigarh-based lawyer
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TAX tips By S.C. Vasudeva Q. I have purchased a residential house on power of attorney basis. I have given the said house on rent. Is the rent received by me taxable as I am not the legal owner of the property? — Lalit Gupta, Haryana A. There is no doubt that the annual value of property is assessed to tax under Section 22 of the Act in the hands of owner even if a rent in respect of the property is being received by someone else. However, for the purpose of Section 22 of the Act, the owner must be a person who can exercise the rights of the owner. The Supreme Court in the case of CIT vs. Podar Cements P. Ltd. (92 Taxman 471), has held that owner for the purposes of Section 22 of the Act is a person who is entitled to receive the rent in his own right and as such where a property is handed over to a purchaser to enjoy fruits of the property by the builder, the purchaser is treated as real owner of that property even if no registered document has been executed in his favour. Accordingly, in my opinion the income from house property purchased by you on power of attorney basis would be taxable under Section 22 of the Act in view of the aforesaid Supreme Court decision. This is because in such cases, an agreement to sell is executed, the consideration is paid and the possession is also handed over to the purchaser. These three conditions in any case make you a deemed owner. Vacating property
Q. I had given a property on rent 10 years ago. I intend selling the property with a vacant possession to the buyer as otherwise the sale price gets reduced by approximately one-half. I have been able to persuade the tenant to accept a sum of Rs 10 lakh and hand over the vacant possession to me. An agreement to this effect is being drafted by my lawyer. Can this amount of Rs 10 lakh be allowed as a deduction while computing the capital gains? — Sumit Jain, HP A. The Madras High Court in the case of CIT vs. Venkataraman (1982) 137 ITR 846 has held that amount paid to a tenant to get property vacated is deductible from the gains arising from the sale of property. Accordingly, in my opinion you should be able to get a deduction of such an amount as the payment of such a sum would be in the nature of cost of improvement of the capital asset.
Unrealised rent
Q. I have a house property, which was let out to a company. The company has gone into liquidation and has stopped paying rent. I have taken up the matter in the court for recovery of the rent as well as for the vacation of the premises. The house property was let out for Rs 10,000 per month. How should I exclude the unrealised rent for the Annual Letting Value of the property for 2006-07? — Dharampal, Bathinda A. In accordance with the provisions of Section 23 of the IT Act, 1961, (The Act) unrealised rent can be excluded from rent received/receivable only if the following conditions are satisfied. 1. The tenancy is bonafide. 2. The defaulted tenant has vacated or steps have been taken to compel the tenant to vacate the property. 3. The defaulter is not in occupation of any other property of the assessee. 4. The assessee has taken all reasonable steps to institute legal proceedings for recovery of the rent or satisfies the assessing officer that legal proceedings would be useless. In case the above conditions are complied with, you can exclude the unrealised rent from the rent received/receivable. However for the purposes of determining the gross annual value net amount so computed shall be compared with the expected rent. The expected rent in this case will be higher of standard rent or municipal valuation of the property. The gross annual value would be higher of the net amount of rent received/receivable or the expected rent.
Section 54
Q. I am owner of a residential house in Gurgaon, which I intend to sell as I am going to settle permanently at Ballabgarh on account of family circumstances. I have seen some houses in Ballabgarh and because of large family I will have to buy two houses side by side as constructed houses in a large-sized plot are not easily available in the aforesaid city. I am informed that in case I sell my Gurgaon house, I will not get the benefit under Section 54 if I buy two houses. — Sunder, Hoshiarpur A. Section 54 of the Act uses the expression “a residential house”. There is a conflict with regard to this term used in the said section. The Income-tax Appellate Tribunal (Bangalore Bench) in a recent decision reported in 91 ITD 53 has held that there is no bar in acquiring more than one residential house to claim benefit under section 54 of the Act. As against this, the Mumbai Bench of the Income Tax Appellate Tribunal in a decision reported in 83 ITD 649 has held that term ‘a residential house’ means one and not many houses. On the basis of the above conflicting decisions, this issue would be settled by the High Court/Supreme Court only.
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Poaching on the green belt
Encroachment continues along the National Highway while authorities look on, says
Ravi S. Singh from Gurgaon
Hundreds of shops, including timber factories, have been set up illegally on the green belt of Haryana Urban Development Authority (HUDA), along the national highway (Delhi-Jaipur) in the city, by felling thousands of trees and uprooting saplings. The phenomenon of setting up illegal structures on the green belt has been taking place for the past many years, and the build up has matched with the gradual but high appreciation of the land value here. Although the malaise is endemic all along the national highway, the grabbing of government land, and that too in a green belt, stands out in bold relief, starting from the Jharsa crossing to the Rajiv Chowk in Gurgaon. This kind of grabbing can be seen at many other places in long patches along the highway. Either side of the stretch on the highway on the road from Jharsa crossing to a little before Rajiv Chowk is parallel to sectors 15-(1) and (II), 30, 32, 17 and 29. Those who have been watching the city grow over the last decade, vouch for the fact that the verdant green belt has been denuded of its green cover along the highway to the extent that the sight has now become an eyesore. The general apprehension is that if this pace of degradation continues, it would not be long when even a semblance of green along the highway would vanish. The Administrator, HUDA, Gurgaon circle, Mr S.P.Gupta, who took charge a few months ago, did concede that large-scale encroachments on the green belt had taken place. However, he said that the cases were pending in the court. He further said that his department was taking various measures to prevent new encroachments. The chief of the Forest Department in Gurgaon district, Mr Alok Verma said felling of trees on green belt required sanction from his department. But the maintenance of the green belt was the responsibility of HUDA. However, he agrees that when the degradation of the green belt was a continuous process his department should have been extra vigilant. The Forest Department was earlier armed with only the power to compound, which meant that the victims could pay the prescribed penalty money and escape scot-free. But the present Congress government, which took charge on March 5, 2005, has made it mandatory to challan the culprits, which means they would be prosecuted on charges of environment pollution. The crime and the modus operandi followed by land mafia, however, lies between various versions of HUDA and the Forest Department. According to many, with the collusion of a section of the officials of the two departments, the land mafia first fells trees and leave it at that. Gradually it fells more trees and levels the land around the area. Then springs an innocuous looking makeshift structure. The structure later becomes permanent and commercial activities commence. Later, extension of the premises is done and the process continues. Officials of the department keep silent or calibrate their apparent ‘punitive actions’ to allow the structures to come up and then allow the matter to go to the courts. Then every one swears by the concept of ‘sub judice’. The cases drag on in the courts for years and poachers remain in possession of the land. So audacious have been the operators that a huge banquet hall stands near Jharsa crossing. A good number of timber factories and several other units, along with the offices of realtors, have each encroached on a huge chunk of land, valuing several crores. These are doing flourishing business. While the misdeeds impinge on the green lung of the city and violate environmental laws, this grabbing also violates the Punjab Road Scheduled Act. Both of them clearly state that no construction can come up within 30 meters on either side of the roads. Also, with the expansion of the national highway, for which the construction works are at the fag end, road has become nearer to the illegal constructions. The existing situation awaits a major disaster in the form of road accident. According to many the argument that the matter is pending in courts and the courts entertaining petitions of the criminals on the issue was untenable. Many wonder what stops the HUDA, which flashes its power of demolitions and the court, to bulldoze illegal structures, such as those standing on green belt? The irony is that those who matter and the criminals who have poached on green belt swear by the name of God and public good. The commoners, however, continue to be dismayed at the appalling rate of degradation of the green lung of the city, which affects their right to a healthy life as elaborated in Article 21 of the Constitution by the Supreme Court in several cases.
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Showcasing aesthetics
New products to hit the market are a visual delight, notes Shveta Pathak
Latest products market has to offer for homes pay equal attention to durability, safety and pricing, besides looks. That is what one could conclude after a visit to Inside Outside fair held in Ludhiana recently. Be it decorative coating you want your walls to adorn, blinds in contemporary and traditional designs or the doors that offer “extra” safety, there is no dearth of options. Feroze Khan, Director, Valpaint, that has come out with decorative Italian paints for walls says: “By using Italian paints, the role of walls in giving a special look to rooms has become possible. We use special tools like spatula, spray, trowel and special brushes, for the usage of which we have trained manpower. Walls can now be painted in ways one had not thought was possible.” One can go in for an antique art effect, silk effects, give reflections of golden or other hues to already decorated surface or even give looks similar to marble et al. On the cost factor, in comparison to regular paints, it costs nearly Rs 200 per square feet.
And while a decorative coating gives a special look, the emphasis on curtains and blinds is no less in today’s households. “An increasing trend of using blinds in wooden finish is prevalent,” remarks Jaspal Singh of Sonex Decor Private Limited. Giving details on products the market has to offer in this category, he adds: “One can go in for imported blinds as well as those manufactured domestically, depending upon the budget. Besides, printed blinds too are a rage.” Adding to home’s safety are the right kind of doors and windows. Raja Roy, Marketing Manager, Supreme Doors, which has come out with German doors, made of aluminium, says: “These doors and windows offer multiple locking and can double as ventilators. They are being preferred not only for looks but also durability.” If you thought that the only options you had in flooring were marble or natural granite, sellers of vitrified tiles beg to differ. Aiming to replace the routine marble and granite in flooring, these tiles come in large size and offer features like low porosity, better strength and lower colour variation in comparison to Italian marble and natural granite. Santosh Moudgill, Assistant General Manager, Marketing, Kajaria Tiles, says: “With the launch of these tiles, we expect to capture a significant share of market for Italian marble and granite. The size is an advantage, plus they are aesthetically superior, offer high durability and are maintenance free.” On the price front, he says it is competitive and not more than what would cost one in comparison to other options. Another product on display that caught the attention of many was an antique wood style Spanish Bar imported by Madhu Spanish Bar. Ask Uttam Singh, company’s proprietor, how the bar is different and he tells you: “The look has quite attracted people and we already have sold off 10 pieces of the first consignment we received. It also comes with a 100-year warranty.” Carrying a price tag of around Rs 1.75 lakh, this bar is water resistant and alcohol resistant, a feature missing in the current products available in market.
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Strengthen roof for sturdy home
Treat roofs with waterproof coating chemicals right from the day lintel is laid. A person finds himself helpless if after spending lakhs on a house, cracks appear on the ceiling leading to leakage, say noted experts
Companies spend crores on advertisements but do not educate the middle and lower class. A house owner, who plans to spend between Rs 6 lakh and 8 lakh on his house, must hire a consultant for safety. Mix chemical with cement and sand while laying the lintel, which is useful to make concrete better and consistent. Choose good quality cement for better concrete workability, easier finish, higher compressive and flexural strength. There are chemicals in the market, which can be mixed before the roof is laid, to resist wet cracking, thermal cracking and those having a higher degree of cohesion and workability in concrete and
mortar. Companies are introducing latest techniques and durable products for better waterproofing solutions. For example, 200 ml of Pidilite LW is advised to be mixed with every 50 kg cement whereas Sika firm advises 100 gm of their chemical for every 20 kg cement. The mixture varies in size and quantity. Another company, Cico Technologies, has introduced Tapecrete P 151 in slurry form (one part of the product and two part of the cement) in such a quantity, which should be used within 20 to 30 minutes. The expense on waterproofing the roof comes between Rs 15,000 and Rs 20,000 for an 8-marla house. Experts are of the opinion that companies should disseminate information about their products to worksmiths like masons, engineers, and architects who play a vital role in construction. Besides chemicals, there are products like rustproof iron and cement, which strengthen the beams and the roof of the house for a longer time.
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Buzz on Bourses New Delhi: UTI Bank has announced to float a financial scheme for freehold residential plots at various prime locations in Faridabad offered by HUDA. This is yet another scheme where the bank is offering 100 per cent finance at attractive rate of interest. This time bank has made the scheme simpler for the applicants holding credit and debit cards. The scheme is available at various branches of UTI Bank in Haryana, Delhi and Chandigarh. — TNS Zion to invest Rs 100 crore
New Delhi: Real estate firm Zion Promoters and Developers Ltd plans to invest Rs 100 crore in next two years for constructing a residential project in Faridabad, Haryana. The city-based company plans to develop 250 apartments, besides penthouses, Zion said in a press note. The project is expected to cost about Rs 100 crore, which includes land cost as well.
— PTI
Nod for amalgamation
Mumbai: Real estate developer Ansal Properties and Infrastructure Ltd today said the Delhi High Court has approved the scheme of amalgamation and arrangement of Ansal Township and Projects Ltd with the company. The company informed the Bombay Stock Exchange that the amalgamation and arrangement was approved by the High Court today.
— PTI
SSI arm, school pact
Chennai: The real estate arm of SSI Ltd, Kalpathi Properties, has said it has tied-up with a leading school in the city to set up a primary and high school in the Rs 1,200 crore 5,000 apartment township coming up in Perambur here. The company signed an MoU with Bala Vidya Mandir, based in Adyar in Chennai, a company press note said. Kalpathi will provide the land and necessary infrastructure for the commencement of the operations of the school on a nominal long-term lease, it said.
— PTI
Petron to sell resorts
New Delhi: Petron Engineering Construction Ltd, engaged in providing construction services has said it is planning to sell its resorts division, Petron Resorts, for which it has received the board’s approval. “The Board of Directors has approved an enabling resolution for the sale and transfer of Petron Resorts (a resort division of the company) subject to approval by the shareholders of the Company under Section 293(1)(a) of the Companies Act, 1956,” a company statement said.
— UNI
ACE public issue
New Delhi: Action Construction Equipment Ltd (ACE) plans to raise Rs 60 crore from its Initial Public Offer, which hit the capital market, to fund its expansion that includes setting up a facility in Haryana. The company, which manufactures cranes, is eyeing an acquisition of a construction equipment firm in China and Italy and has earmarked Rs 7 crore for the purpose. The public issue, which closes on September 7, comprises 46 lakh equity shares of Rs 10 each at the price band of Rs 110-130. — PTI
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Vaastu keeps Himachal designers busy
Ancient skill plays a significant
role in hill architecture, says Vibhor Mohan
Even as the benefits of this
traditional Indian architecture and design system are being recognised
across the region, Himachalis never gave up on Vaastu and it continues
to play an important role in house building, right from selection of the
plot to the finalisation of nitty-gritty of the interiors. Feng Shui
is also fast taking roots in the region. Simple things like keeping
the entrance towards east and locating the kitchen towards south east
are known to synchronise the place of residence or business with the
nature’s energy, consisting of five basic elements. This releases
positive energy for the well being of the inmates. Sanjay Gupta, a
leading Vaastu and Feng Shui expert in the region, says while Vaastu is
applied before and during the construction of the house, Feng Shui is
more of a remedial science, which helps in rectifying faults, known as
‘Vaastu dosh’. The basics of Vaastu say that the plot should be
rectangular, the plinth level should be higher than the road level and
the drainage of water from the roof should be towards east. “It is
also believed that the toilet should not be near the entrance and
preferably not even visible from the entrance and submersible pumps
should always be placed towards north or east,” suggests Gupta.
Ranjit Kanokia, a Dharamsala-based architect, says 80 per cent of
clients are now keen on getting the house built as per Vaastu Shastra.
“In fact, some people go so deep into the intricacies that it
unnecessarily delays the completion of the house. I have a lady client
who has been studying Vaastu for over two years and is still not
satisfied with the design,” he says. “People from all strata of
society are now going back to Vaastu and it is no more seen as a
superstitious traditional mumbo-jumbo. Even in case of offices, the
owners want that they should be seated facing the entrance and the staff
should be facing south or west,” he says. Rajat Kant, a Dharamsala
resident, says he had problems giving his house on rent as most
prospective tenants would come with a magnetic needle and study the
entrance and location of kitchen and toilets minutely and end up finding
some fault with the design. “Going too deep into it makes Vaastu
subjective and creates unnecessary confusion and doubts in the minds of
the inmates,” he says.
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MNCs step in Manesar
Manesar, near Gurgaon, is emerging as the new destination for industrial and service providers. With government emphasis on providing best infrastructure, it is expected soon to be far ahead of other industrial and corporate sites.
Located on National Highway NH8, it is 32 km from the domestic and international airport. The city is well connected with metros like Delhi, Jaipur, Ahmedabad and Bombay by road and air. Booming as an enticing investment option, Manesar has attracted vast population with the infrastructure that have been put in place. Well-laid-out green roadside, sewerage treatment and disposal plant, state-of-the-art power house and water supply systems with elegant production house buildings and landscaped gardens are not only a visual treat but also a reflection on the careful planning.
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Urbanisation in Gurgaon, billed to be an upcoming international city, can be a good case study of things becoming deeply ugly and out of control if not effected on the template of ‘planned development’. If some unscrupulous officials of departments concerned are allowed a free run, an ecological disaster stares in the face if the present situation continues in this city. 
Call them scientific or
regressive but more and more people are now going back to Vaastu Shastra
for designing that perfect house that promises harmony with nature and
brings good health and prosperity.