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Street Smart
Lane houses seem to be an innovative concept, especially for those living in the fast lane, writes
Kanchan Vasdev
Further, with ever spiralling land prices, these identical houses constructed, as the name suggests, on both sides of a lane, are easy on the pocket too. To realise housing dreams of the ‘instant’ generation, who want a readymade house, builders have come up with this innovative idea. A number of units, which are replicas of each other,
are constructed in a lane so as to utilise the available land optimally. The concept, introduced recently in Ludhiana, is the first of its kind in the state. The builders are pleased with the response of the buyers as all houses were sold off even before they were ready. The concept has taken shape in the peripheral areas of the city, where at least an acre of land was used for constructing 15 duplex houses in a lane with a common entrance and a common parking area. The main features of these houses are that these are fitted with a state-of-the-art security system and are fully furnished. These are also provided with all electrical appliances, including TV sets,
refrigerators and even airconditioners. "When I introduced the concept, I was very jittery about whether or not it would be a success. But well before I could construct the 15 houses, all were sold out. A family even moved in just after a house was completed," says a builder, who did not want to be quoted. Seeing the response, he felt so encouraged that he started with yet another
project of lane houses just a few metres from the first site. Lane houses came to Haibowal in Ludhiana for the first time. There were 16 of them in a lane, measuring 125 square yards each. These were sold for Rs
20-25 lakh each. The architecture was such as to appeal to the with-it generation of buyers. "We used accessories that were contemporary. The interiors were done by new-age designers. Whosoever came looking for the house, decided to buy it," claims "When the entire package, including 125 square yards of land, was available for Rs 20-25 lakh, the idea became affordable. The houses were designed such as to to get adequate sunlight and air and fulfilled the requirements of a modern family. All one had to do was just walk in, with the minimum of paraphernalia. “Otherwise, buying land, getting a site plan
sanctioned, constructing the house, procuring material, getting it designed and, finally, painted would
cost anyone a lot of time and money. “To cap it all, we have provided matching furniture and fully fitted bathrooms that complete the dream-house look, especially for the corporate class. These houses are now available on resale also," he says. It was only after the sure shot success of the Haibowal project that builders targeted Sarabha Nagar Extension, near Daad village. Till that time only farmhouses were being sold there. Smart builders decided to utilise the farmhouse land for setting up lane houses. And there they are. Fifteen houses of Lohtia Dream Lane have already been sold and more are coming up. "We did not need to advertise, word-of-mouth publicity by couples helped. An amount of Rs 25 to 35 lakh was not difficult for corporate couples to arrange, especially those recently transferred to the city. They would have in any case rented out a place, but the easy availability of bank loans prompted them to buy these houses instead," says Parminder Singh, a real estate dealer. He says that after the success of the concept, at least 10 builders are now coming up with more such houses in the periphery. The demand for accommodation being on the rise, with more and more establishments, including
MNCs, coming to the city, any innovative idea for pocket-friendly housing was bound
to be a hit.
LANE RANGER
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They’re identical houses facing each other across a lane that provides a common approach and parking area. There’re no houses at the back of these units.
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Villa Vista
Two well-known big real estate players from India and abroad have come together to form FDI joint venture projects in the holy city of Amritsar.
Reputed names in the realty sector, Impact Projects Pvt Ltd and South Asian Real Estate Limited (SARE), in a significant joint venture for an equity fund company, based out of the Isle of Man, have decided to invest Rs 18 crore to build mega housing and commercial projects here. Launching the joint venture group recently, the spokesman for the company Sanjay Joshi said that this company had acquired about 100 acres in close proximity to the GT Road bypass for building residential plots, villas, group housing, a commercial area, a hotel, a school and institutional as well as recreational centres. Joshi said that SARE was a private equity fund investing in India in real estate with a focus on residential townships in
Tier-II cities. SARE had a corpus of US $ 400 million and the Impact-SARE township would be built on 120 acres at the Amritsar bypass. The project would be completed by 2013 and comprise 762 villas, 557 apartments and recreational centers, he added. Another small township of about 50 acres had also been planned in the vicinity of Amritsar while SARE had struck a deal for 14.53 acres of the total site. The project was likely to be completed in the next two years.
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Homes alone
The objects for the decoration of doors as prescribed in the texts are: (a) kula devta---the image of the family deity. Its dimension should not be more than one hasta (length), that is about 18" (b) Two prathiharis (sentinels or guards): decorated with ornaments, bearing a staff and swords in their hand, well clothed, glowing with youth and beauty, along with lady prathiharinis and placed on both the sides of the door (c) Dhaatri — a dwarfish nurse, followed by her maid companions, happy jesters or vidhushakas (d) Shanka and padmanidhi emitting coins (e)The asthmangala on the seat of lotus wearing a sacred garland of eight auspicious symbols.(f) Goddess Lakshmi seated on a lotus, well décor:ted and being bathed by elephants (g) A cow with her calf, well ornamented with flower garlands etc. It should be noted that nowadays, people in their overenthusiasm to decorate the house use figures of Gods like Krishna, Ganesh, Vishnu etc, and also many other prohibited motifs. This should be avoided and only the prescribed motifs should be used.
Direction
Most of the scholars of vaastu are of the opinion that there is no harm in having a door facing west (actually it is the third best option after east and north) but the one facing south should be avoided. The reasoning is that we do not do anything or perform any religious function facing the south, except the last rites or the death anniversary of departed souls. The age-old as well as prevalent traditional practices should be taken into consideration in such matters. Since the south is attributed to Yama, the Lord of Death, Indians generally do not accept an entrance to a building from the south. It does not matter if the subsidiary door is located in the south. The evil effects of a door facing south can be countered to a large extent by having another door towards the north north-east or east north-east. Experts also say that the main entrance door should never be located in the centre, always off-centre and in the favourable zone (i.e.north-north east in case of north, east north-east in case of east and west-north west in case of west), but not in the extreme edge in any case.
Defects to detect
Great importance is given to the quality of materials, workmanship, shape, proportion and size of wood, woodwork and the artstic style. Nearly 17 possible defects in woodwork must be avoided. Doors which make a noise when opening or closing are considered bad. Doors which shut by themselves too are considered inauspicious. The tradition of decorating doors, which is maintained even till today, is ancient yet important as a plain door is considered inauspicious. It is not only the doors but even the house walls, ceilings, assembly halls etc, which are decorated and practically all decorative motifs which are prohibited and permitted in secular architecture have been prescribed. Those which are prohibited are 49 in number and those which are permitted are 17.
Wood for the door
It is suggested that old and young trees should not be used in the wood for the main door because the former show signs of decay in colour and oil content and the latter lack the required size and strength. The proper age of the tree to be cut is about 66. The following trees are considered unfit for use in buildings:
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Trees grown in cemeteries, on the roadside in villages, on the bank of tanks and in the vicinity of temples. Cutting of trees should commence on an auspicious day and time and if the tree falls either to the south or to the west, it should be abandoned and deemed unfit for use, but not before due ‘shaanti’ and other rituals are performed. All these precautions only indicate how meticulous our ancestors were in every aspect of architecture. It will be of interest to note that the sex of the trees can be determined by examining their tender leaves. If the number of veins on the right side is in even numbers and that on the left side is odd, then the tree is a male and vice-versa. If the number of veins on both the sides are equal, whether in even or odd numbers, then the tree is impotent. The wood of impotent trees is considered auspicious for the construction of ashramas, temples etc. Wood from Saguvani (Teak), Ashoka, Shrigandha (Sandal wood), Bevu (Neem), Sal etc, is good for buildings. The wood from Aala[(banyan), Kali, Mango, Palm etc, trees are of a secondary variety. The wood from auspicious trees like Ashwatha, Atti, Cocount etc should not be used in buildings.
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REAL TALK
Budget hotel properties are witnessing rapid expansion, says Vilas Pawar, CEO, Choice Hotels, India, in a chat with
Ruchika M. Khanna
What is the scope of budget hotels in India when the big players are
fast reeling under inflation? In this era of rising inflation, when big players in the hospitality sector are considering slashing of room tariffs, the budget hotels are seeing a further growth, especially in the Tier-II and Tier-III towns. With domestic travel having seen a surge because of reduced airfares, this increase in travel will positively affect business in our mid-market hotels across the country. As of now how many Choice Hotels are operational in India? Choice Hotels International manages around 500 hotels in 44 countries. In India, the group is managing 25 hotels, 18 hotels are under construction and there are plans to manage around 70 hotels in the country in the next three years. What are your plans for expanding your footprint in India? Choice Hotels India has signed up 20 new properties that are currently under various stages of development. This will add about 1,800 rooms across India with an estimated budget of around Rs 800 crore, in the next two years. Of the 20 new hotels, three will be in the NCR and five in Punjab. Consequently, the company will also increase staff from the present 2,500 to 4,500, as the total number of rooms managed by it would reach up to 4,000. What are your plans for expansion in Punjab? We propose to open our first hotel in Amritsar by the end of August. The 40-room Inn hotel in Amritsar will offer all amenities to travellers. We have also tied up for a 60-room Quality Inn Hotel in Zirakpur. The hotel, spread over an area of 1 acre, will be operational from next year and offer a restro-bar, discotheque and health club facilities to travellers. Besides, we will also open two hotels in Ludhiana and one each in Bathinda and
Baddi.
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Tax tips
In continuation of the tips on calculating capital gain, here are other exemptions:
An important point to be noted in this regard is that though the capital gain is chargeable on a different rate than the income arising under other heads, (on which tax is chargeable at the slab rate), in case the tax payer has an income under the head capital gain as well as under other heads of income, the benefit of the limit up to which tax is not payable is duly allowed under the provisions of the Act. This aspect can be explained by the following example: The income of a senior citizen from sources other than long-term capital gain is Rs.1,20,000. He has also earned long-term capital gain of Rs.80,000 on the sale of shares of an unlisted company. He will not be liable to pay tax on Rs.80,000 as his total income, including a capital gain of Rs.80,000 is less than the limit of Rs.2,25,000 up to which tax is not payable by a senior citizen for assessment year 2009-10. Investment of long-term capital in the acquisition/ construction of a house so as to save capital gains tax: There are two Sections 54 and 54F of the Act which deal with such an exemption. Section 54 provides exemption to long-term capital gain arising from the transfer of a house, the income of which is chargeable under the head 'income from house property'. Such exemption is allowable only to an individual or a Hindu Undivided Family. To claim the exemption, it is essential for the taxpayer to purchase or construct a house within the specified time period. For purchasing a new house, the specified period is one year before or within two years after the date of transfer of the house. For constructing a new house, the requirement is to complete the same within three years from the date of transfer of a house. The amount of exemption is equal to the amount of capital gain earned on the transfer of a house or the amount invested in acquiring or constructing the property, whichever of the two is lower. The other Section dealing with the exemption is 54F. The exemption under this is available to only an individual or a Hindu Undivided Family. The exemption is available only if the capital asset which is transferred is a long-term one but other than a residential property. For example, it may be a plot, commercial property, gold, share or any other asset but not a house. For claiming the exemption under this Section the taxpayer is required to purchase or construct a house within the same time period which has been referred to herein above in the case of Section 54. The exemption under this Section is available only if on the date of transfer of the original asset, the taxpayer does not own more than one house other than one which is acquired on the transfer of a capital asset. The taxpayer is also not permitted to purchase another house within a period of two years or construct another one within a period of three years after the transfer of the original asset. The amount of exemption is equivalent to the capital gain if the net consideration is invested in the acquisition of the house. If the investment is less than the amount of net consideration, the exemption from the taxability of capital gain is limited to the proportionate amount. The net consideration has been defined to mean the full value of consideration for the transfer of property as reduced by the expenditure incurred wholly and exclusively in connection with such a transfer. It may be added here that for the purposes of Sections 54 and 54F, the cost of the house would include the cost of the land on which it has been built. Acquisition of long-term specified asset to claim exemption from taxability of capital gain: The exemption from the taxability of a long-term capital gain arising on the transfer of a capital asset can be availed by all taxpayers i.e. an individual, firm, company or any other person if they invest full or part of a long-term capital gain in long-term specified assets within six months from the date of transfer of the capital asset. Such bonds have a lock-in period of three years and cannot be transferred within this period. Such bonds cannot even be given as a security for obtaining a loan from a bank or from any other person. The long-term specified asset mean bonds issued by the National Highway Authority of India and Rural Electrification Corporation Ltd, if such bonds are redeemable after three years and are issued on or after April 1, 2006. It may be added that an investment made by a taxpayer on or after April 1, 2007 in the long-term specified assets mentioned above cannot exceed Rs 50 lakh during any financial year. (Concluded) The writer can be contacted at sc@scvasudeva.com
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GREEN HOUSE Satish Narula
Nature cannot be replicated though there exist poor man-made imitations. Different kinds of flora find their unique expression in the form of flowers, leaves, unusual shapes, colours etc to, basically, attract the attention of the insects for the purpose of pollination to continue their species. But there are certain plant species that have been given by Mother Nature to mankind mainly to remind of His presence. See the accompanying picture of an amazing Bromeliad species, Neoregelia carolinae ‘Tricolour’. If you want to give it another name, call it the ‘Blushing Bromeliad’. It is not only the beauty of a species that attracts horticulturists to it but the curiosity factor too. For example, the bromeliads need their central cup to be filled with water all the time whether the roots get it or not. Basically, being plants growing in rainforests, they thrive on the big branches, their roots finding anchorage by clasping the tree limbs. They may either be aerial or terrestrial. The water stored in the cup is also used by birds, snakes and other small animal life in the forests. This is one of the most beautiful kinds of Bromeliads in which the colour changes with bright light in the centre of the leaves at the time when the plant reaches maturity. The plant has three colours: the green, banded longitudinally with ivory or yellow spiny rimmed leaves and a deep maroon, pink or dark red central whorl. When I brought this plant it was totally green with yellow stripes. It had come from the hills, where it was kept in the shade. I placed it out in the sun and within a matter of a few weeks, colour developed in the whorl. I put it in the semi-shade before the leaves got baked by the summer sun. The leaves are thick and leathery. The flowers appear in the centre, emerging from the water cup. Such plants need very friable and forest-rich soil with a light material like moss, leaf mould, sand, loam, etc. The addition of charcoal and brick pieces gives additional benefit. They are best suited for plantation in shallow and wide pots. The flowering bunch appears in the centre of the plant and as the flower matures, the growth stops. The life of the flowers is quite long but ultimately the plant has to die after it bears the blooms. The brightly coloured central whorl also starts fading. But do not worry, look at the base of the plant, you will find a new plant emerging as an offshoot. This can either be detached to be inserted in sand or allowed to grow to ultimately replace the original. The writer is a senior horticulturist and can be contacted at satishnarula@yahoo.co.in
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If you want to live in a well-furnished house, replete with all basic amenities and designed by a professional, but you don't have the time to construct it, then lane houses, a concept picking up fast in Ludhiana city, could be your solution.
The distinguishing features of these lane houses are as folllows:
The door is the outer face of the house and of the people who live in it. If care is taken to make the entrance a positive energy space, it bodes well for the inmates.
Benefit of exemption limit available: 