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TREND MILL
TAX TIPS
Demand for office space rises by 19 pc
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TREND MILL
Bathrooms are spaces typically designed for adults. Dull colors and hard-to-reach areas can make the bathroom less attractive and accessible. Key things to remember when designing children’s bathrooms are safety, having fun, accessibility and storage. Plan the bathroom around a kid-friendly concept so that it is a version of the child’s world, a room that the kid can associate with an enjoyable activity. So, experiment with colours, textures and shapes. Children are fascinated by neons, dark and bright
shades!
Making children more self-sufficient in the bathroom will make everyone’s life easier. Invest in an automatic motion sensor that turns on the light when a child enters the bathroom and turns it off when they leave. Also, installing nightlights will help keep kids from tripping or bumping into something until the light switch can be reached. Theme for a dream Says architect Amitabh Bendre, “To make your kid’s bathroom more fascinating, create a mural based on animals or cartoon characters, and choose accessories that will echo the theme. Provide safe toys to play with while being bathed. That way, your child can focus on having fun rather than on the soap and shampoo that irritates the eyes and makes them cry.” Tip: When the wallpaper, shower curtain and border all have bright and bold theme characters, the bathroom can look cluttered. Instead, use a character-driven shower curtain next to a solid painted wall in a complimentary colour and maybe a theme border. Work as a team If two or more children are sharing a bathroom, draw out a list of wants in terms of colour, storage needs and themes. “Space permitting, try to separate areas for each child so that there are lesser squabbles. These split areas will also allow for slight décor differences based on each child’s favorite colour or theme,” he says. Buy bright towels and get the child’s name embroidered on each. If towels are left out, there will be no guessing as to whose it is! Tip: Install a long countertop with double sinks for quicker access. Safety saves TODDLERS and small children face a host of possible safety issues every time they enter a bathroom. Making the bathroom safe and accessible for little arms and hands will go a long way towards achieving this goal. The idea is to think about potential pitfalls of the bathroom from a small child's point of view. Use anti-slip or anti-skid tiles and flooring. The wet area or the shower area should be well segregated. If a bathtub is planned, ensure it is shallow. A bath mat or rug to catch water outside the tub is another simple precaution. Ensure that all products have soft, rounded edges and angular finish to minimise injury due to fall or otherwise. Also colours used and finish of every product should be non-toxic in nature. All products used by kids should have anti-bacterial coating on the ceramic and plastic surfaces. For wall-mounted fixtures or products, pre-check load-bearing capacity and the fixing should be quite durable and strong. Keep cleaners and other hazardous chemicals out of reach. Place them in a cupboard with a lock or warning sticker your child understands. Ensure there are no electrical switches and sockets at child-level and near water outlets. Think present DECORATING a kid's bathroom is not a forever thing. Enjoy it while you can and when the kids get tired of it, start over. Homemaker and mother of twins, Ashima Goyal learnt this the hard way. “Just two years ago, I decorated my boys’ bathroom in kid colours and themes. This year they entered their teens and as a birthday present wanted me to overhaul their ‘kiddy’ bathroom for something grown up," she says. "I had to get the cartoon-motif wall and floor tiles changed and practically redo the bathroom!” Tip: Go for decor you can change easily, like paint, towels, curtains. Market watch USING trendy concepts in fixtures, bath fittings and sanitaryware canmake any bathroom attractive. Creating a child-friendly bathroom requires various elements, says V. Krishanmurthy, head of marketing at Hindware that recently launched the Poncho series for children. “People are now making bathrooms especially for kids and are paying lot of attention towards safety. So, they are switching over to low height closets.” Take Hindware’s Poncho, the little froggy that promises to hop, jump and play with every toddler in the washroom. It comes in blush red, sunshine yellow, electric blue and spring green. The frog-shaped basin with built-in pedestal, eye design bowl space to keep soap dishes and chrome-plated insert for overflow hole add complete new and attractive look to the washrooms and is priced at Rs 21,715. “The low-height Poncho water closet and washbasin makes it easier for every child to use independently, while its vibrant colours and shape pampers every kid and make the washroom a true fun room,” says Krishanmurthy. With a little creativity, common sense, appropriate supervision, and a few pointers you can make the bathroom happier much safer for young children. So, get cracking!
Welcome change!
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Happy building!
Don’t let construction of your dream home turn into a nightmare.
Contractors and workers call you 24x7 telling you work has stopped because there is no cement. Why where you not told before? Well, the answer no homebuilder has found till yet! You rush to the site. Your heart aches to see workers sitting around, raw material carelessly stored and being wasted. Purchase of less or more quantities leads to wastages of time and money. They do it all the time, a seasoned house owner tells you sympathetically. Availability of excess quantities of items makes workers careless and ends up in wastage. Piecemeal purchases result in loss of output. So, what is the way out? Stringent calculation of material required and regular record keeping. Here are some guidelines that may make construction and record-keeping simpler: Cement assessment
THE exact quantity of cement required for construction of a house varies depending upon design and specifications and cannot be specified. Many consultants and organisations do suggest some cost percentages for various materials and ask you to work out the required quantities from the cost components. Don’t follow these percentages or you will land up with surplus or short quantities. Best method is to work out the area of your house plan and use it. Working out the house area takes no time. Calculate the cement required for your house by taking a factor of 35 bags per 100 square feet area. A house having an area of 2,000 square feet will, therefore, require about 700 bags of cement.
Steel simplified
THE next abundantly used item on the list is steel. Its quantity depends on a number of factors, most vital being whether you are using RCC foundations or brick foundation. Consultants suggest RCC framed structures and provision of RCC bands at many locations to make the house earthquake resistant. In such cases, requirement of steel will increase significantly while that of bricks will decrease. For a normal house with brick foundations, you can calculate approximate requirement of steel quantity on the basis of 2.5 kg of steel per square feet area of your house. Thus, a house having an area of 2,000 square feet will require about 50 quintals of steel. Diametre diary: Sometimes, you need to work out the weight of steel of a particular diametre. There is a simple method for it. Just square up the diametre of the steel bar in millimeter and multiply it by 0.617. This will give you the weight of 100-metre length of steel. For example, to work out the weight of 10 mm diametre steel, first square it up. It is 100. Now, multiply with 0.617 to get 61.7. This is the weight of 100-metre length of 10 mm diametre steel. Or we can say that 10 mm dia steel weighs 0.617 kg per metre length. Similarly, you can work out weight of any other diametre of steel. Remember this simple formula and steel weight calculations will always be easy for you.
Bricks calculated
TO know the quantity of bricks required, add up the length of a nine-inch thick wall for each storey of the house in metres. Now, add up the length of 4.5-inch walls for each storey in metres. Take its half and add the figure to the length of nine-inch walls. Multiply this total length with 336. You will get the number of bricks required for each storey. For foundations, about 60 per cent of the bricks required for a storey will be required. This way, approximate quantity of bricks required for a house can be known.
Fair percentages
FOR a house, cost of materials can be assumed as about 70 per cent of the total cost. Cost of labour and rented materials can be taken as about 30 per cent of total cost. Cost of cement, bricks and steel together can be taken as about 33 per cent of the total cost. These all are thumb rules and these costs may vary from building to building.
Plinth area rates
WHEN you are getting a house built yourself, top class construction should cost about Rs. 900 per sqft, excluding the cost of land. Middle class construction should cost Rs 700 per sqft while simple, low budget construction should cost Rs 500 per square feet without cost of plot. These rates look very less in comparison to the rates charged by the builders for the flats and villas sold by them because in the case of builders, the cost of land, too, gets divided among dwelling units. However, wherever the builders quote their rates on the basis of super area instead of plinth area, the buyer should work out the actually charged plinth area rate by dividing the total cost by the plinth area of the house.
Keep a diary
THIS is a very important tip for house builders. It will help you keep complete control over the progress of work, expenditure and many other parameters. Always maintain a daily diary for your house. Divide it into five parts. In the first part, enter date-wise receipts of materials in a tabulated form. Major items like cement, steel, wood, bricks etc and small items like CI pipes, GI pipes and fittings, paints, joinery fittings etc get controlled through it. In the second part, enter date-wise record of work done. Note down the dates on which there was no work due to rain, material shortage or any other reason. In the third part, enter the dates of casting of RCC items and work out the dates up to which curing of the same is to be done and the dates on which shuttering is to be removed. This part will act as a ready reckoner to control the quality and safety of RCC work. In the fourth part, note date-wise expenditure and payments made to the contractors and suppliers. In the fifth part, make miscellaneous notes like names, addresses, contact numbers of suppliers and other useful information. As the house progresses, this diary will become a highly precious reference and record book for you.
This column appears fortnightly. The writer is deputy chief engineer, civil,
PSEB.
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Capital gain to be taxable in 2012-13
S.C. Vasudeva Q. I sold shares in a private limited company on August 8, 2008 for Rs 9 lakh (cost of acquisition Rs 1 lakh in May 1984). I own a residential house. The entire amount of Rs 9 lakh was deposited under capital gain scheme in March 2009 i.e. before the date of filing the return with the intention of buying a residential house. I have now acquired a residential house in a town in Haryana for a sum of Rs 6.4 lakh. Please let me know the amount of capital gain on sale of shares as well as that chargeable for assessment year 2010-11 (i.e. previous year 31.03.2010), the treatment of unutilised amount and when can I withdraw the same? — Radhey Shyam A. Your queries are replied hereunder:
Net consideration: Rs 9,00,000 Original amount of capital gain: Rs 4,34,400 Un-utilised amount: Rs 2,60,000 Amount of taxable capital gain: 2,60,000/9,00,000 x 4,34,400 = 1,25,493 Effective exemption under section 54F of the Act: 3,08,907 (4,34,400 – 1,25,493) The amount of Rs 1,25,493 would be chargeable to tax as long-term capital gain after the expiry of three years from the date of transfer of shares. The date of transfer being August 8, 2008, the period of three years would expire on August 7, 2011. The capital gain would thus be taxable in the assessment year 2012-2013. You can withdraw the amount of Rs 2.6 lakh any time after August 7, 2011.
House transfer It’s a short-term capital gain
— Dr Devinder Singh A. I assume that you have invested the net consideration (sale price less expenditure incurred wholly and exclusively in connection with such sale) to purchase a built-up house at Patiala. The utilisation of the net consideration for the purchase of the house plot at Patiala would entitle you to claim the exemption from the taxability of capital gain of Rs 18 lakh arising on the sale of the plot in the year ending March 31, 2009 relevant to the assessment year 2009-10. In case you have sought such exemption and the residential house at Patiala is sold within a period of three years from the date of purchase of the said house, the amount of capital gain arising from the transfer of the plot not charged earlier shall be treated as long-term capital gain of the year in which the Patiala house is transferred. The capital gain, if any, arising on the transfer of Patiala house shall be treated as a short-term capital gain. Replies to your other queries are given hereunder:
Pay tax & remit sale amount; bank will help
— Sukhdev Singh A. I assume that your mother has settled in Malaysia for good. Reply to your queries is based on the said presumption:
You can claim deduction on house loan
— Raman Garg A. According to the provisions of section 24 of the Act, income from house property is required to be computed after making deductions amongst other items, amount of any interest payable where the property had been acquired, constructed, repaired, renewed or re-constructed with the borrowed capital. In view thereof, you would be entitled to claim the deduction of interest payable on the amount borrowed by you from the government for the construction of the house.
This column appears weekly. The writer can be contacted at sc@scvasudeva.com
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Demand for office space rises by 19 pc
According to a latest report by global realty consultant Cushman & Wakefield (C&W), the average demand in India's eight major cities rose by 19 per cent at 6.7 million sq ft during July-September period over the previous quarter. "Bangalore witnessed the highest demand in the quarter with 2.3 million sq ft followed by Mumbai at 1.2 million sq ft and Chennai at 0.98 million sq ft," C&W said. However, demand in the NCR region was down by 30 per cent at 0.66 million sq ft from the previous quarter, it
added. C&W attributed the decline in demand to "subdued interest from the corporate sector in anticipation of further decline in values along with shelving of their expansion plans". The report said the total supply during the last quarter was much more than demand and was estimated at about 15.9 million sq ft, which was led by Mumbai with 3.73 million sq ft. NCR and Kolkata followed with 2.26 million sq ft and 1.7 million sq ft, respectively. "The gap between supply and demand increased to over 130 per cent (from 50 per cent) in the last quarter, increasing the average vacancy across major cities in India to 17 per cent from the previous quarter's 13-18," the report said. The consultant observed that rentals in the three-month period declined by up to 13 per cent in these cities. Chennai witnessed a decline of rentals for office spaces between 8 per cent and 13 per cent. In Hyderabad, the fall in rentals was to the extent of 9-11 per cent, while in Bangalore, it was down by 5-8 per cent. Although office rentals in Mumbai stabilised, the declining trend continued in the NCR and it was estimated at up to 6 per cent.
— PTI
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FACED with the universal challenge to make kids enter the bathroom for a bath? Since staying dirty is usually not an option, consider remodelling your bathroom to help make the process easier on everyone. Soon, the daily duel could soon be a thing of the past and your child could be excitedly dragging you to the bathroom for a splash!
Bathrooms are spaces typically designed for adults. Dull colors and hard-to-reach areas can make the bathroom less attractive and accessible. Key things to remember when designing children’s bathrooms are safety, having fun, accessibility and storage.
GROUND REALTY
FACED with the universal challenge to make kids enter the bathroom for a bath? Since staying dirty is usually not an option, consider remodelling your bathroom to help make the process easier on everyone. Soon, the daily duel could soon be a thing of the past and your child could be excitedly dragging you to the bathroom for a splash!
PICKING out the colour scheme and décor is the time to have some serious fun. If the bathroom adjoins the bedroom, continue the same colour scheme or theme on through. Themes for children’s bathrooms are endless, so think about their hobbies and interests as a starting point. Some popular children's bathroom ideas are creatures (frogs, monkeys, ladybugs, sharks, insects, butterflies), sports, beach, aquatic, fairy tale and classic rubber duckies.
BRING several pre-approved options home for your child to think about so that they feel more involved in the design process. Encourage kids to contribute. Try to incorporate their artwork into a space they're going to use a lot. Let them decorate a mirror frame! “Not everything has to match — it's for a child and should have some sort of fun and adventure,” says Bendre.
WHETHER your children have their own space or share the bathroom with the family, the bathroom should be a fun, safe place for the family. So rented house or self-owned, this is possible by making some changes in any existing bathroom. The key is to keep the bathroom friendly and inviting for your children. Here is how:
Give your kids a space of their own. Reserve a drawer or shelf at their level for towels, soap, toothbrush, toothpaste and bath toys. Since it's their shelf, they should also have the responsibility of keeping it clean.
YOU started construction of your dream house with stars in your eyes, searching high and low for the best architect with the perfect design, the finest wood and luxury marble… but six months into construction and you can’t wait for it to get over! 
Q. I sold a plot in October 2008 for Rs 27 lakh with a capital gain of Rs 18 lakh. To invest the earnings and avoid capital gain tax, I invested the amount in January 2009 in a built-up house at Patiala. Now, I want to sell the house and buy a flat. The sale price is the same. Rather, I’ll lose some amount due to registry expenses. If I sell the house and buy a new flat for Rs 25 lakh, what shall be the tax implications?
Q. My mother inherited a plot in Amritsar and some agricultural land in the village. She now resides in Malaysia. We plan to sell the same and transfer the proceeds to her account in Malaysia legally. How can we transfer the money and do we have to pay any taxes? 
Q. I am working with the Haryana Government. I have taken a house-building loan and the principal amount is being detected by the government but interest will be deducted after the complete deduction of principal amount. Kindly let me know whether I will be entitled accrued interest on the principal amount for tax benefit. I have been verbally informed that I will not give benefit of interest since at present they are not taking interest.
VACANT office spaces have seen demand for them rise by 19 per cent during the last quarter amid signs of economic recovery, although the same weakened in the National Capital Region on hopes of a further drop in rentals, a report has said.