 |
|
| REAL ESTATE |
|
|
|
|
|
Satellite township plan goes haywire
Himachal Pradesh is indecisive on the land use option at Waknaghat, reports
Ambika Sharma
The
state’s first planned satellite township, slated to be set up at Waknaghat in Solan district, is shrouded in uncertainty with the state government indecisive on the land use option. Though the Himachal Pradesh Housing and Urban Development Authority (Himuda) is at an advanced stage of acquiring land, there is little hope of the project coming through. A private entrepreneur, Skill Infrastructure, has signed a memorandum of understanding with the state government and has proposed to set up a special economic zone (SEZ) in nearly 800 hectares of land lying in the same area. Now the satellite project has hit a roadblock. The SEZ project has also received in-principal approval from the Centre. It now awaits a state government nod and the enterprise is in the process of acquiring the requisite land. On the other hand, Himuda is proceeding ahead with the land acquisition and notices under Sections 6 and 7 of the HP Land Acquisition Act, 1894, have been served on the villagers. As many as 5,227 bighas of land has been identified by Himuda. Out of this, barely 1,692 bighas of land belongs to the government while 3,018 bighas is under private ownership. Another 517 bighas has been set aside for the IT-based industry. It was an ambitious project announced right after the present government took over in 2003. Ever since that announcement, the government has been professing it as a project to decongest Shimla by accommodating nearly 30,000 persons. Nearly four years have lapsed in identifying the requisite land as it met with a massive opposition from the villagers. Director (Industries) Anil Khachi said a final decision is awaited in this case. The terms and conditions on how to facilitate Skill Infrastructure involving grant of royalty, if any, to Himuda which has been working towards acquiring land, has to be decided. It is also not clear which project would come through and in how much proportion, he added. He confided that it was a multiple-utility project involving housing, commercial as well as industrial activity. A decision was yet to be taken whether the Himuda should be accommodated for housing project, along with the Skill Infrastructure, or whether the project should remain an independent entity. Officials of Himuda, who were equally perplexed with the developments, said earlier an option was floated by the Department of Industries wherein Himuda and Skill Infrastructure were to work as a joint venture. It was, however, rejected by the department consequent to which further decision was awaited. They added that the authority had invested between Rs 20 lakh and Rs 25 lakh on the satellite project till now and if it was transferred to Skill Infrastructure at this stage, a substantial amount of royalty should be paid to the authority. With uncertainty dogging the township, officials of Himuda had no concrete idea about the fate of the project. The ambiguity of government’s will was further manifested in the observations of the minister concerned. Though the ruling Congress had all along been professing that it was an ambitious project where the first planned township was being planned to decongest Shimla, now they chose to say that the land use would depend upon the government’s further directions. Harsh Mahajan, the minister concerned fervently held that the authority was directed to acquire land and it was the sole prerogative of the government as to how this land would be used. “While the land acquisition process was likely to be completed soon, the authority would await government instructions on how to use this land.” He could say little on the future of the satellite project and said it would depend upon the government’s decision. The likelihood of the township taking form appears bleak now in the light of the present developments. With nearly 35 to 40 per cent flats in Shimla remaining unoccupied, officials opine there was not much scope for those buying flats in Waknaghat. Further, it was being felt that the proposal had been floated to provide better remuneration to the land owned by certain politicians in the area. Villagers have shown little inclination to surrender land. With nearly 110 families becoming landless in the process of land acquisition their rehabilitation has become a major question.
|
|
|
Multiplexes for industrial hub
Ludhiana to get Flamez and West End Mall this month, finds out Jupinderjit Singh
Ludhiana, the city of industries, is all set to figure prominently on the multiplex map in the region with two new plazas and as many as eight auditoriums, equipped with the latest film screening facilities, ready to roll out this month. City residents had already lapped up the experience of a shopping mall at Ansal Plaza. It is time now for shopping, along with a never before cinematic experience in the form of PVR cinema at the Flamez Multiplex, while Waves Cinemas will showcase at the West End Mall in Rajguru Nagar on the Ferozepore road. Flamez, situated on the Malhar road, where Malhar cinema once used to be, is all set to open doors on July 15 while West End Mall, situated on the west of the city, would be inaugurated on July 29. The dates have been finalised with room for last minute changes. These two would be the first multiplexes of the city. Though there are 20-odd cinema halls in the industrial hub of Punjab, only Orient and, to some extent, Arti Cinema can claim some standard movie viewing. With these new cinemas, all will have a run for their money. The hype surrounding Flamez multiplex is largely because it would mean the initiation of the city movie buffs into the PVR culture. Shikhar Verma, Asst Manager, Flamez, said people would get to experience world-class interiors and acoustics, ambient lighting, computerised ticketing, real time online booking. The multiplex would have four screens and 1,100 seats. West End Mall will house a four-screen cineplex with 1,053 seats equipped with the finest facilities. “Waves Cinemas will be the highlight of the mall. The projector system will be from Kinoton, Germany. The mall will feature sound system by Martin, UK; floors with carpets from Brintons, UK, and a platinum lounge. Both malls have already given space to major eateries like the KFC and other well-know food chains since Ludhiana has its own unique culture of eating out Besides, all major brands would open showrooms at the malls. At West End Mall, besides the three floors being dedicated to men, women and kids wear, a spa, health club and an entertainment centre for children will form the part of the infrastructure.
|
||
|
Estate talk Alpha G plans a township in Amritsar, says S. Satyanarayanan
Strict
monetary measures initiated by the Reserve Bank of India to check overheating in the real estate and housing sector will lead to wiping out of some of the new and inexperienced real estate developers and consolidate professional and transparent realtors, says Alpha G:Corp Development Private Limited CEO S.K. Sayal. “When the market is buoyant, you don’t need experts. Everyone makes profit, the quantum may vary. However, under strict monetary regime, which triggers slowdown, only experienced, transparent and professional players can succeed,” Sayal told The Tribune while sharing his companies recent achievements and future projects. “If this stringent monetary policy continues for next six months, many small players will be wiped out or acquired by big companies. In fact, the situation is building up well for companies like ours to get into acquisition mode,” he says. Opening up of FDI in real estate has been a boon to the industry, but the foreign players will associate with only that Indian firm, which is professionally managed, Sayal says expressing happiness over Morgan Stanley Real Estate taking equity share in Alpha G:Corp worth Rs 300 crore. Alpha G:Corp has projects spread across the country, including projects in Amritsar, Gurgaon, Kurukshetra, Karnal, Patiala, Jalandhar, Jaipur, Ropar, Udaipur, Ahmedabad and several other cities in Punjab, Rajasthan, Uttaranchal, Gujarat and
Madhya Pradesh. According to Sayal, the company is developing a Rs 600-crore
integrated township, Alpha International City, Karnal, comprising 350 acres of plotted development. In Amritsar, the company has launched a mixed use mega project, City Centre project, spread over 25 acres on the GT Road. The company is also due to launch an integrated township of 135 acres — Alpha International City — in Amritsar in August 2007, he says.
|
||
|
HOME DECOR Designer sanitaryware and vitrified finish are in vogue, notes Devendra Malik As people’s living style has changed over the decades, the designing of bathrooms has also undergone drastic changes. From mere convenience-oriented arrangement to luxury-aimed design, bathrooms have now become an ultimate expression of style. Colour
Natural colours are most versatile but designers are incorporating bolder colours like red, blue, forest green, emerald green, terracotta and rust. These colours are used everywhere – from actual walls to the sink as well decorative tiles. A three-colour scheme consists of main, secondary and accent colours. The main colour is used on most surfaces, the secondary colour on the cabinets or walls, and the accent colour in at least three places or for one major feature. The eye is drawn to the lightest colour first, so the walls are painted the lightest if these are not the focus. The accent colour is usually the brightest to the darkest in a scheme. If one has a hygiene fetish, then white is the colour. Choose between a warm white and a cool white, and then select a specific hue so that the white and the off-white elements do not compete with each other. Dark cabinets require a spacious, well-lit room.
Light
Bathrooms need to have one of the most flexible lighting schemes in the whole house. It needs to be bright enough to enable one to apply make up or shave. Fixtures with frosted glass covering are in vogue. These diffuse light to give a subtle effect. Apart from the fixtures that are attached to the wall, a series of low voltage spotlights or down lighters are also popular. These cast pools of light onto the surface below and have a good effect on water and glass.
Reflection
Using glass blocks as partitions is the new trend. It provides both natural light and privacy. The other alternative to glass these days is silver acrylic sheeting, which gives an undistorted mirrored reflection. This is half the weight of glass and is practically unbreakable. It comes in various colours, this being appropriate material for a mirrored door-the ideal space saving device in a tiny bathroom. Stained, patterned and wired glasses are the popular types.
Storage in style
Readymade furniture offers a large variety of designs and finishes that make it a convenient option. Shelves or elegant vanity with drawers provides handy access for day-to-day items. Shelves below the washbasin can have pullout baskets, providing flexible storage options and turntables that are ideal for storing smaller cosmetic and beauty accessories. Readymade designer bathroom furniture and storage option are also available.
Horizontal and vertical
A dynamic flooring pattern or a deep wall colour can make a lot of difference. Walls account for the largest surface area of any room, making the choice of a decorative finish very significant irrespective of it being ceramic or mosaic, tiles, wallpaper or paint. The finish influences the entire bathroom’s character. Bathrooms are constantly exposed to water and moisture. Therefore, it is important to cover the area with water resistant materials. Surfaces, which are capable of withstanding water splashes, detergents or grease marks and regular cleansing are ideal. Stones, marbles, granite slabs and mosaic tiles are the most common material available. Ceramic tiles are the most popular ones in Indian bathrooms. These are made of fire-pressed clay, which is then glazed and fired again to give a high-gloss or matt finish. Certain retail outlets provide with an option of custom-made tiles where the tiles are screen-printed to pattern/painting or even a photograph. Embossed or hand-painted tiles are the other fashionable option. Another attractive and suitable wall and floor option available is the glass mosaic tiles, the true vitreous mosaic composed of squares of glass. Vitrified clay or ceramic mosaics with eggshell finish are available in astounding shades and ranges. These are usually sold in panels. Like ceramic tiles, they can only be fitted on a hard flush surface and are fixed with the help of adhesives. The joints between the pieces are filled with white cement or other recommended grouting medium after removing the paper. Generally, the pattern of small pieces provide sufficient visual interests and manufactures now have vast collections catalogued for easy selection.
The writer is a New-Delhi based interior designer. His email id is
devendramalik@yahoo.co.in
|
||
|
GREEN HOUSE Replant indoor beauties after removing mud balls, suggests Satish Narula
They
were all there in the thick of woods. Some of them were even confined to places where the sunlight never touched the floor. We saw them, we liked them and we tamed them so that they could be kept indoors. Yes, we are talking about the shade-loving plants. This is the time to know everything about such plants. There is a wide range of indoor or shade-loving plants. When we visit a nursery, we want to have them all. It is because of the beauty of the colourful foliage or the flowers. They look fresh and healthy while in the nursery but no sooner are they brought home than they start wilting. There could be mortality too. It is difficult to understand the cause. By following the tips given hereunder, you will be able to understand what they want. While in the nursery, the plants are kept in almost similar conditions as they were in when they were born. They are under the cover of a shade net, get regular showers from overhead sprinklers and kept in the company of many of their kin getting that much-needed ‘cosy’ (read humid and shade) effect. The shine and the lustre in the beginning is original, which is the same as they get when segregated from mother plant. After we bring them home we must provide them the conditions just like the environs they were already in. Mostly, nursery workers get such plants from as far off places as Saharanpur, Kolkata or
Bangalore. Such plants brought from distant places are raised in thick clayey soil. When a person visits to buy them, these are extracted from temporarily made beds and given with small but firm mud balls. This is mostly the case with crotons, palms or dracaena. The mud ball is too small to support the growth of the plants, which is already under a shock due to the severing of the roots done to transport more number of plants at one go. This results in drying over a period of time. The plant’s demand for nutrient and water is not matched by the uptake affected by the severed roots resulting in heavy mortality. One can take a chance to have such plants and replant them with certain modifications but beware, never buy such fruit plants. The mortality may occur even in the fourth or fifth year of planting, at the time of fruit bearing. Pull out the dead plants and you will have the hard ‘original’ mud ball intact! The roots never got a chance to leave the ball. After getting the ornamental plants, if you feel the mud ball is too hard, you can wash the soil off or break the lower half and plant in a freshly prepared soil, sand and well-rotten manure mixture. This is the right time to do so. The plants should then be placed under the shade of a tree for a few days, till these get established. These plants relish syringing the most. It is watering the plant with a spray made by obstructing hose at the outlet, at least thrice a week. It is like rain-everyday for the plants. It also gives shine and lustre to the foliage. While keeping the plants indoor, care should be taken to place them near a place where they get fresh air. Filtered light is welcome. Keeping the plant at one place, especially near a light source (a window) may bend it towards the source. Keep rotating the pot every third or fourth day. This keeps the plant upright. Do not keep the plant at a place where there is darkness. You will have sick-looking plants with long and weak joints. Plants like aspidistra have better tolerance to light stress. It is better to place the plants in groups in the porch. Never ever think any plant is an indoor plant and could be kept inside for longer periods. You must take out them and keep them under the shade of a tree or shade aspect for ‘recuperation’. It is better to bring them out in stages, shifting them to the veranda and porch first before bringing them out in the open. Keeping two sets of plants prepared would fill the gap. Keep an eye out for insect or disease attack. — The writer is a senior horticulturist from PAU. His email id is
satishnarula@yahoo.co.in
|
||
|
TAX tips By S.C. Vasudeva Q. We two brothers inherited a residential house from our father after his death in 2001. The said house was sold in 2004 i.e. after three years of the date of death of our father. I invested my share of sale proceeds in a capital gains scheme account of a nationalised bank as I intend to invest the said amount in buying a residential house at a place where I am employed. It has not been possible to purchase the house on account of the substantial raise in prices of residential properties in Punjab. The capital gains scheme account will be maturing by the end of this year. Is it permissible to get the term extended of this particular account? If not what would happen to this amount lying with the capital gains scheme account. — Radhey Shyam, Jalandhar A. There is no provision in the Act for extending the term of the capital gains scheme account. Since you would not be able to construct or acquire the property within the specified period, the capital gain which was earlier exempt because of the investment in capital gains scheme account will be chargeable to tax under Section 45 of the Act as the income of the previous year in which the period of three years from the date of the transfer of original asset expire. You will have to follow the procedure for closure of account in accordance with the provisions of Capital Gains Accounts Scheme, 1988. Own house
Q. I stay with my parents in a rented accommodation. The rent is being borne by me as I am getting house rent allowance from my employer. I have also bought a house, which is about half a kilometre away from the house where I live. The possession of the said house is expected by early 2008. I have borrowed part of the consideration for the residential house from a nationalised bank. Can I get the deduction for the following in my taxable income: (a) Interest on housing loan (b) Repayment of loan (c ) House rent allowance — B.S. Kainth, Mohali A.
You can claim deduction of interest up to Rs 1,50,000 against income from house property and that of repayments towards the principal amount of loan to the extent of Rs.1,00,000 under Section 80C the IT Act, 1961 (the Act). Both these deductions will, however, be available after you have taken the possession of the house. The interest before taking possession is deductible in five equal instalments beginning in the year in which you take the possession. The total limit of deductible amount would, however, be Rs.1,50,000. You can also claim exemption of HRA within the prescribed limits. It would be in your interest to submit all these details to your office so that they can take these into consideration while deducting tax at source.
Lost papers
Q. I bought a property on my mother and my daughter (then a minor) name in 1988. It is an apartment in Haryana and I moved my furniture and lived till 1996. All association dues are paid till date. The property is not registered due to a slight dispute with the builder. I now want to sell the property but have a problem. I can’t find my original purchase papers or taking over the possession papers. My daughter is now mature and has given me the power attorney. My mother has given me the power of attorney to sell. Can I sell without registry? Can I sell without original papers? — Vijay Sethi A.
It will be in your interest to obtain duplicate documents relating to the original purchase as well as the possession of the apartment. This will establish the year of purchase and the cost price for the purpose of computing the capital gain if any on the intended sale by you. In accordance with the provisions of the Section 2(47) of the Act, a transfer of a capital asset can take place by allowing the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in Section 53A of the Transfer of Property Act, 1882. In other words, if the possession of an immovable property has been given in lieu of the consideration towards the transfer of the property, the transfer would be deemed to have been effected as far as the provisions of the Act are concerned. Therefore, it may be possible for you to sell the property without the original papers. This would of course depend upon the buyer who may like to have various precautions in this regard including the reduction in the amount of consideration payable to you. As indicated herein above, the registration is not essential for transfer under the Act. The necessity of the same would also depend upon the buyer of the property.
Primary borrower
Q. I am a salaried person. I had bought a plot in 2001 in the name of my mother and two brothers. My mother is a housewife. Later, we had to take housing loan from bank and as my brothers did not having adequate income, my mother transferred her share in my name to take loan on my name. 1. I am a holder of 33 per cent share in property. 2. A housing loan stands in my name as primary borrower and my brothers as co-borrowers. 3. All repayment is being done by me as my brothers do not have sufficient income and do not claim any rebate under income tax from this loan repayment. 4. How much percentage of loan repayment and interest payment can I claim under the IT Act? — D.D.Goyal A.
On the basis of the facts given in the query, it seems the plot was purchased on the name of your mother and two brothers but the funds were provided by you. However, the fact that you are holder of 33 per cent share in the property goes against the above presumption. It is, therefore, not possible to give a correct reply to your query unless it is explained as to who provided the funds for the buying of the plot. I may add that the deduction for payments towards repayment of loan are allowable to a person who is the owner of the house and, therefore, it is very essential to ascertain this fact.
Change of use
Q. I have purchased an agricultural land, which I intend to use for extending my existing manufacturing activity. I have applied to the government for the change of use from agricultural land to non-agricultural land. I may have to pay a substantial amount for such conversion. Will the above expenditure be allowed as deduction in computing the profit and gain in the business? — R.S. Nagrath, Batala A.
The amount paid for converting agricultural land into non-agricultural one cannot be termed as revenue expenditure and would not be allowable as deduction against income from profits and gains of business under the provisions of the Act. The amount would be added to the cost of land and may be possible to argue that it represents the cost of improvement to the land acquired by you.
The writer can be contacted at sc@scvasudeva.com
|
||
|
Bathrooms are becoming more of a ‘centrepiece’ at home. Design trends range from bold and colourful to simple and elegant.
Glass bends, fuses, moulds, shatters, and welds. They can be painted and etched. All these wonderful possibilities, along with the prime property of transparency and reflection, make glass the latest material for designers. Carved and layered glass doors, glass entry systems, decoratively etched windows, mirrors, carved glass bath, and shower enclosures become works of art when created in carved and etched glass. 
