Footprint of LUXURY
Luxury housing segment has been growing in spite of the slowdown in the realty sector all over the country. Developers are lining up a vast array of such homes for the HNIs and NRIs
Geetu Vaid

While slowdown has crippled the realty sector in the country to a large extent with low sale volumes and increasing inventory overhang, the luxury segment has managed to buck the slowdown trend so far. Commenting on the trend being witnessed in the Indian realty market, Ananta Raghuvanshi, Director Marketing and Sales, DLF India said that demand in the luxury segment has remained robust over the past couple of years and, “Luxury and super luxury real estate products seem to be immune to the ups and downs in the market sentiment. ”

Luxury housing primarily caters to the high-end investors. With the rapid pace of urbanisation, the urban families are increasingly opting for luxury homes. Property portal Makaan.com recently conducted a survey to measure whether the luxury housing (having a budget of Rs 1 crore +) is gaining momentum in India. The maximum number of people (58%) were of the view that there is an increasing demand for luxury segments while only 7 per cent said that they did not have much idea about it.

Steady growth

With new luxury projects being launched in the top metros regularly over the past couple of years and the developers claiming good sale and response, this market is slated to grow at a compounded annual growth rate of over 80 per cent during 2012-2014, according to the figures provided by research firm RNCOS.

Is luxury housing gaining momentum in India?

Surprisingly, in the 2008-12 period, with the global economy facing a downturn, the total value of luxury homes, launched in 182 luxury residential apartments, offering a total of 25,570 units across the top seven cities of NCR-Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata was around $ 30 billion, according to real estate consultants Jones Lang LaSalle.

The increasing demand of luxury segments can be attributed to the increasing rate of High Net worth Individuals (HNI) and the rapid pace of urbanisation. “ At a growth rate of more than 20 per cent, India has the fastest growing number of HNIs in the world, and real estate comprises approximately 40 per cent of their investment portfolio,” adds JLL.

According to global real estate consultancy, Cushman and Wakefield, developers are planning to launch about 9,000 homes in the super luxury segment across major cities in India over the next 2-4 years. Developers say luxury housing consumers generally demand residential units with an area of 4,500 to 7,000 sq ft.

The demand, no doubt is more in the metros as JLL figures show NCR having the biggest chunk of luxury housing in the country with a 35-40 per cent share, Mumbai with 20 per cent and Bangalore with 15-20 per cent are the other preferred locations for luxury house hunting.

Price point

The average price for a luxury segment real estate across India is above Rs 1 crore depending on the location and available facilities. Price points for luxury housing in the prime locations of Mumbai range from Rs 25,000 to 1,10,000 per sq ft, while similar projects in the prime areas of South and Central Delhi range from Rs 15,000 to 65,000 per sq ft. Gurgaon’s prime locations fetch Rs 7,500 to 30,000 per sq ft, while Bangalore’s luxury housing projects range from Rs 20,000 to 30,000 per sq ft.

There is availability of these luxury houses in metros like Delhi, Bangalore, Mumbai, Kolkata, Gurgaon and Chennai. The changing demographics of the country coupled with the rising aspirations initially brought up the existence of luxury housing.

Leading developers like Tata Housing Development Company, Sobha Developers, DLF, Kalpataru, Nitesh Estates, Unitech, Omaxe, Royal Palms and Lodha Developers are currently developing projects in cities like Mumbai, Delhi Pune, Goa, Bhubaneshwar, Bangalore and in Kerala, with the price of an average luxury home varying anywhere between Rs 1 crore and Rs 50 crore.

Tata Housing’s ‘The Promont’ project in Bangaluru is one such luxury housing project. Spread over across 14 acres on Bengaluru’s exclusive hill — Promont Hill at Banashankari, it offers elegantly-designed residences of double-height cantilevered terraces with landscaped gardens. The project is designed by world-renowned architect Moshe Safdie, whose most recent creation includes the Marina Bay Sands Resort in Singapore.

The DLF group that has delivered a number of luxury projects over the years, has not slowed down its launches in this segment. Sama Tara, the super luxury villas in Shimla, Sama Vana Luxury villas in Kasauli and Commander's Court in Chennai are some of the new offerings in the uber- luxury segment.

Lodha is yet another developer whose Fiorenza project in Mumbai’s suburbs became renowned for its association with Jade Jagger. The developer is enticing consumers with its grand sky villas; while Indiabulls’ Blu is another similar luxury project in Mumbai’s central district of Worli.

Supertech Limited has its ultra luxury Rs 2000 crore project Supernova in Noida for which it has entered into a partnership with Armani/Casa, the home and interior design division of the Armani Group to design ultra luxurious high-end residences – “Residences by Armani Casa”. The group is also going to come up with another project in association with Disney India. The Fable Castle project will be part of its integrated city project Golf Country, at Yamuna Expressway, Greater Noida.

Builders and developers of tier 2 cities are also exploring the luxury segment market and are providing the home buyers the option of luxurious, super luxurious and studio apartments. Tata Housing even has a luxury housing project, Ariana, in Bhubaneshwar, a city that has hitherto not been associated with high-end living.

So while Karnal has its set of expandable Spanish villas in the form of CHD Developers’ 'Spanish Meadows', the ATS group has Cassa Espana luxury homes coming up in Mohali. The footprint of luxury is visible all across the country. As Tata Housing’s MD and CEO Brotin Banerjee says, “Even Tier I and II cities that comprise primarily of a middle class population are also fast moving towards luxury housing, mostly on the back of ancestral money and the aspiration of living life, king size with their disposable incomes. We get many inquiries for our luxury housing project in Bhubaneshwar from Odiyas residing in US and UK.”

Loaded with luxury

A typical luxury home is spread over about 4,430 sq ft in Mumbai, whereas the comparable size of a home for an average family of four is about 800 sq ft. These high-end homes are typically located on private roads or extensively protected and gated private communities that boast of ultramodern security systems, making them a private heaven.

Given that these consumers are shelling so much, expectations run high. These multi-million dollar mansions, villas, apartments, penthouses and condominiums — call them what you want — offer ostentatious amenities and services that remain at the beck-and-call of their patrons.

Super luxury segments are equipped with world-class features both in terms of price and style, for example, there are sixth sense electronic fittings and 80 per cent oxygen-rich environment to boost the health of the residents.

From an entire room dedicated to a home theatre with state-of-the-art surround sound system, to a personalised library; from an open swimming pool in your terraced garden that overlooks the Arabian Sea to a stylish kitchen with ultramodern appliances that resembles a cooking show kitchen; from humongous walk-in closets that are straight out of the movies, to a tailored gym, coupled with a Jacuzzi and spa-sauna — the super-rich have it all.

Not surprisingly, these homes are all smart homes. These are intelligent living spaces that have been developed with the help of latest gadgets and technology in the world of interior design and architecture. Digital locks, electronic surveillance systems, in-built temperature control, wireless communication for Internet, in-house entertainment, sensors that enable residents to control ambience, light and temperature through pre-programmed machines are all regular services and amenities that developers use to woo these hi-end customers.

Dollar shower

Another reason for the luxury housing to gain momentum is the increasing investment by the NRIs in the Indian real estate industry. Moreover, at present, in comparison to hotels, the studio apartments are proving to be more convenient and sought after by the NRIs visiting India. Independent swimming pools, personalized Jacuzzis, private elevators that lead straight into your living room, complete home automation, modern clubs with exclusive members' lounges and spas - these are just some of the luxurious amenities that real estate developers are including in their luxury housing projects - a move that is aimed at the Non-Resident Indian (NRI) audience.

Aiding this agenda is the timely depreciation of the rupee against the dollar. With the rupee nose-diving to new lows compared to the global benchmark, homes in India are becoming cheaper for the NRI community.

Banerjee of Tata Housing says , “Tata Housing has been witnessing a steady response from NRI customers from UAE, Singapore, UK and even from US, ever since the Rupee has started to depreciate. The demand from the NRI segment has increased by 25 to 30 per cent as compared to the past.

“Interestingly, this demand is spread across geographies. We have steady demand for our uber-luxury housing project — The Promont in Bengaluru and Primanti in Gurgaon, from Indians living in US, UK and the Gulf. This is an opportune time for NRIs to invest in real estate in India due to lucrative pricing as well as the easing of lending norms for NRIs.” The world of high-end luxury and premium housing has seen a massive change in the past few years, especially with the exploding growth of India’s new affluents, a top-of-the-tier working class population that is single-handedly driven towards living the big life.

VAT burden to hit realty mart
Santhosh Kumar

Government’s decision to impose value added tax (VAT) on developers operating in Haryana is likely to push the overall pricing of developed units higher. Given that this additional financial burden will in all probability be passed on to the consumers, demand elasticity may be adversely affected. This could potentially lead to postponement of purchase decisions by end users.

The current real estate market scenario in Haryana is not amenable to this move. Property prices in the state are holding out and loan rates (and consequently EMI levels) are unlikely to come down in the near future. We can definitely expect there to be downward pressure on demand. While the state government may be able to generate additional revenue, this may not happen at the expected pace, given the market absorption being currently observed.

Developers all over the country pay VAT through its imposition on the construction materials like cement, sand, steel, etc. Haryana already charges different VAT rates on construction material. In this new initiative, the Government is proposing a two-way payment of VAT:

n The developer can pay VAT at the rate of 4% on project cost, which will include material, land and labour, or

n He can pay VAT against the bills generated on the purchase of cement, sand, steel and other construction materials used in the project.

Haryana is now also levying an additional tax burden on all developers who build houses for buyers who have an annual turnover of over Rs 5 lakh. This will more or less cover within its ambit most developers, builders and promoters.

Adding an additional cost burden on developers and contractors will have a cascading effect on the overall project costs. In the current situation, developers are struggling with decreased project sales, and matters are not helped along by high interest costs and high project prices. In other words, this will further slowdown the sales momentum in the state’s housing sector. There is, of course, a potential opportunity for developers, as they may be in a position to bear this additional tax burden while keeping their price constant. This would improve the competitiveness of their projects.

However, it is far more likely that these added costs will be passed on to the buyers, who are already struggling with high residential prices in cities like Gurgaon. This measure will make the otherwise relatively affordable realty market in Faridabad and Greater Faridabad costlier and less competitive vis-à-vis Noida and Greater Noida — areas that will not be affected by this move by the government.

— The writer is CEO – Operations, Jones Lang LaSalle, India

tax tips
Can my wife lease her house to my employer?
SC Vasudeva

Q. I am a bank employee and am living in a lease rent accommodation provided by my employer. A lease rent agreement has been signed between the bank and the owner of the house who is offering the accommodation. As per this arrangement the bank pays lease rent to the owner of the house every month and the employee gets the lease accommodation.

Now I have purchased a house in my wife's name after getting a personal loan from the bank for which I have to pay a monthly installment of Rs 24,000 to repay my personal loan. Now my question is, am I legible for lease rent accommodation if I will start living in the house which I have purchased in my wife's name and can my wife sign a lease rent agreement with my bank.
 — M Kumar

A. Your query does not indicate the source of investment in the house purchased in your wife's name. It seems that the bank borrowing which is stated to have been taken in your personal name has been utilised for purchasing the house in your wife's name.

On the basis of the facts given in the query it seems the source of investment in respect of the property can be linked to you, though the registration of the property is in the name of your wife. It may be possible for your wife to enter into a lease arrangement with the company in respect of such a property. However, income from house property under this arrangement will be clubbed with your income in view of the provisions of Section 64 of the Act.

Can I include travel expenses in LTCG calculation?

Q. For LTCG calculation, “expenditure incurred wholly and exclusively in connection with such transfer” is available as deduction. Which expenditures are being referred here as deduction? Are “travel expenses” and “expenditure incurred for newspaper advertisement” related to selling of the flat, covered under this head? What back-up documents are to be kept as proof? Are travel ticket, fuel bills (if travel by car), newspaper cutting and money receipt for advertisement given in newspaper a valid document?
 — RS Sharma

A. Any expenditure which is incurred wholly and exclusively in connection with transfer is allowable as a deduction from the consideration received or accruing on transfer of a capital asset for the purpose of computing the amount of capital gain. Expenses incurred for newspaper advertisement can be regarded as an expenditure, which is incurred wholly and exclusively in connection with the sale of flat and would be covered under this head. Normally, travel expenses can’t be considered as expenditure incurred wholly and exclusively in connection with transfer as it is difficult to determine and prove to what extent it was incurred for the purpose of sale of flat. As regards expenditure for newspaper advertisement, the documents mentioned by you are sufficient evidence to prove the expenditure.

Further, since travel expenses would not be considered as an expenditure which is incurred wholly and exclusively in connection with transfer, the question of documentation would not arise. However, if you can prove that such expenditure had been incurred wholly and exclusively in connection with transfer, the documents mentioned by you are a sufficient evidence. For example, if you are staying in Delhi and the house being sold is situated in Mumbai, the travel expenses for going to Mumbai for the execution of the sale deed may be allowed as deduction.

Can I get house rent rebate under Section 10B of the IT Act?

Q. I am a salaried person employed in HPSEB Ltd; (A State Govt. Undertaking). My gross salary amounts to about Rs  6,00,000 per annum. I am living in a private accommodation and am paying house rent @ Rs  4500 per month to the owner of the building. Also, I am getting House Rent Allowance @ Rs  2000 per month from my employer. Can I get house rent rebate under Section 10B of IT Act? If so, then to what extent? Please calculate. — Harichand Verma

A. You are entitled to claim exemption in respect of the house rent allowance subject, however, to the limit prescribed in Rule 2A of the Income-tax Rules, 1962 (The Rules). The amount which is not to be included in the total income of an assessee in respect of house rent allowance is to be computed in the following manner:

• The actual amount of the house rent allowance received by the assessee in respect of the relevant period.
• The amount by which the expenditure actually incurred by the assessee in payment of rent in respect of the residential accommodation occupied by him exceeds 1/10th of the amount of salary due to the assessee.
• The amount equal to where such accommodation is situated at Mumbai, Kolkata, Delhi and Chennai one half of the amount of salary and where such accommodation is situated at any other place 2/5th of the amount of salary. The least of the above amounts is allowed to be excluded from the salary in accordance with the above rule.

You will thus be entitled to an exemption of Rs 24,000 only.

Can my son avail benefits under Sec 80 C?

Q. My query relates to a query answered by you (August 10, 2013) on the benefits of Section 80C & 24(b) on house under construction. My son is an NRI who is paying instalments from bank loan towards an under construction flat. He is not likely to avail the above benefits even after the completion of the flat. Can he add the above benefit under 24(b) to the capital cost of the flat? — Krishan Dev Uppal

A. Interest paid on monies borrowed for purchase of a property can be treated as part of actual cost of the property. Your son can, therefore, add the amount paid to the cost of property. The High Court of Karnataka in the case of C.I.T. vs. Shri Hariram Hotels (P) Ltd. (188 Taxman 170) has held that the amount of interest payable on amount borrowed for acquiring a property can be accounted towards the cost of acquisition of property for the purpose of computing the amount of capital gain. This proposition is valid on the assumption that your son has not claimed the benefit under Section 24(b).

Help me in calculating LTCG

Q. Kindly help me in getting the following clarifications on LTCG Tax calculations by publishing in your esteemed newspaper as early as possible.

Long-Term Capital Gains Tax Calculations - FY 2012-13

LTCG tax arising out of sale of a plot if calculated by the method of availing basic exemptions, as detailed below, is sometimes more if it is calculated by deducting the indexed cost of the plot from the sale proceeds and taking 20 per cent to get tax figure (in both the cases).

Let LTCG tax be = Rs X

Basic exemption = Rs B (Rs 2 lakh present)

LTCG = Rs L

Taxable Income = Rs T

(Including salary, interest, LTCG etc. and availing admissible exemptions and deductions)

Then X = 20 per cent of L- [B-(T-L]

Kindly advise.

If my observation as at (1) above is correct.

In both the methods of calculating LTCG as at (1), 20 per cent is taken to get LTCG tax. Is it right?

Can we follow any of the above methods as at (1) to arrive at lower amount of LTCG Tax? — SP Gambhir

A. The method of calculating tax on long-term capital gain as given in the query is not correct.

Tax on long-term capital is computed by taking into account the total income as reduced by the amount of long-term capital gain. In case such total income is below the maximum amount which is not chargeable to income-tax, such long-term capital gain is required to be reduced by the amount by which the total income falls short of the maximum amount which is not chargeable to income tax. Tax would be payable on the long-term capital gain on the balance amount @20 per cent plus applicable education cess of 3 per cent thereon.

The correct method of ascertaining the tax on long-term capital gain is explained hereunder with the help of assumed figures.

Total taxable income (excluding LTCG): Rs 1,00,000

Capital gain: 2,00,000

The amount of Rs 2,00,000 being the limit up to which tax is not payable by an individual assessee who is not a senior citizen, he will be entitled to exhaust the above limit of Rs 2,00,000 and accordingly, the amount of taxable capital gain would be Rs 1,00,000. An assessee will be liable to pay tax on the above amount of Rs  1,00,000 @20 per cent plus applicable education cess of 3 per cent thereon.— s.p. gambhir

Be ready to pay tax on the sale of short-term asset

Q. I bought an under-construction apartment in May 2011. I plan to sell that property and buy another one with the sale proceeds. Please let me know if I will have to pay any tax on the profit made from sale of the first apartment. — Baldev Raj

A. You have not clarified whether the apartment has been completed or not. For the purpose of replying to the query, it is assumed that the apartment is still under construction and is intended to be used for residential purpose.

If you sell the said apartment before May 2014, i.e., within three years from the date of purchase of the apartment, any capital gain arising on such sale shall be a short-term capital gain and shall be taxable as per normal slab rates and no tax benefits shall be available even if a new property is purchased out of the sale proceeds of the apartment.

However, if the said apartment is sold after three years from the date of purchase and the entire net construction arising from the sale of the apartment under construction is utilised towards purchase of a new residential house within a period of one year before or two years after the date of sale of the apartment, then the entire capital gain shall be exempt from tax. It is important to note that the new house so purchased cannot be sold within three years from the date of its purchase.

email your queries to realestate@tribunemail.com

REALTY GUIDE
B K Sanghi

Q. I had built a house, on a 10-marla plot 26 years ago. Five years ago my son wanted to take a loan from the bank for which I gifted him half of these 10 marlas ( 5 marlas ) to enable him get the loan. I just gifted him the land and not the house that had been built on the said plot. The loan was sanctioned to my son “for the construction of a house” but he used the money for his personal needs. Now my son wants to grab the house on the land that I had gifted to him. My queries are:

• Can my son ask me to vacate the house (constructed by me), which falls on gifted 5 marla land?
• Can I claim the “cost of construction” of that part of house (constructed by me) from him?
• Can the gift deed be revoked? — Jagdish Pathania

A. First of all let me make it clear that you and your son have done something illegal by taking loan on a false pretence.

Once a gift deed is executed, it can’t be challenged or revoked. The person having the title of the gift deed is the absolute owner. Now, it is my advice that since this is a family matter, you can settle the issue amicably amongst yourself only.

real view
Strong policies can tackle slowdown
RP Malhotra

The real estate sector is passing through a recessionary phase - a long drawn recession. Ups and downs in the real estate trade usually match a sinusoidal or ECG graph. Like many other trades, the property market has a tendency for correction after a period of booming conditions. This correction usually is due to the oversupply of the product vis-à-vis lesser demand. The correction may also take place due to inflated prices created by market operators. After a correction the prices settle down till a further demand is created.

This time, however, the southern end of the graph of the real estate trade performance in the tricity area has gone a bit deeper. This unusual trend may be attributed to various factors. The factor of oversupply against the existing demand does not seem to be logical in the face of the fact that rentals in the region are on the rise. Increasing rents of residential accommodation in the tricity and its periphery shows that demand for the accommodation is there. But still a big chunk of developers of apartments are eagerly waiting for the prospective buyers and are offering attractive payment schemes.

Lack of affordable options

Affordability seems to be the major factor for this long-drawn recession. Housing is a basic need after food and clothing. However, due to the high prices, many of the end users eagerly dreaming of owing a house cannot afford the prevailing price tags. The monthly income of a majority of such aspirants does not fit in to the normal EMI regime at the prevailing home loan interest rates. Generally as per a thumb rule the price of the house/flat, to be within affordable range, must not exceed the aggregate income of maximum of seven years of the buyer. Only then can one afford to pay the EMIs at the prevailing interest rates comfortably after meeting other household expenses.

Going by this logic a buyer earning Rs 25,000-30,000 per month can afford to buy an accommodation in the price range of Rs 25 lakh and the one earning Rs 40000 per month can afford the price tag of Rs 35 lakh to the maximum. But take a look at the available housing inventory in the tricity area and one would find hardly any accommodation reasonably matching the status and requirements of the buyer in the above mentioned salary bracket. The prevailing price tag of an average flat of carpet area of 1,000 sq ft in Zirakpur and other adjoining periphery areas is around Rs 50 lakh and that of a flat of covered area of 1,500 sq ft is around Rs 70 lakh. Apparently, the number of buyers who earn Rs 8-10 lakh or more annually and can afford such category of accommodation, is limited.

Factors affecting prices

The price tag of a house depends on mainly three factors, namely land cost, material cost and labour. Land around a city like Chandigarh will always remain a scarce commodity and its price will continue to increase. The cost of construction material is largely governed by government policies and the commodity market has been eclipsed by high rate of inflation for the past five years or so. Faulty government policies have not been able to contain inflation, which has drastically affected the overall cost of the housing accommodation besides marring the overall growth of the country.

Then comes the issue of labour cost. The rates of daily wagers have soared to unexpected levels hiking the labour cost component to a considerable level in a housing project. Developers are helpless as far as the material cost and labour component is concerned as these are driven by the market forces. Hence, land is the major factor where the cost of the unit can be minimised.

What needs to be done

The government has to be pro-active to encourage the realty sector with support policies. Infrastructure development is needed to develop self-sustained townships at a distant of 15-20 km from big cities to cater to the vital need for cheaper accommodation. This shall also reduce the burden of the infrastructure of main city. PURA (providing urban amenities to rural areas), a social development programme floated by former President of India APJ Abdul Kalam can create wonders if applied in letter and spirit. Government must come forward to incentivise developers offering low-cost housing. For example a provision matching the withdrawn 80IB (10) income tax clause must be considered to be introduced to attract more investment in the housing sector.

Government may evolve a scheme of offering cheaper land to the developers in select pockets equipped with proper infrastructure with a rider of state controlled price regime of finish product.

A special home loan scheme for providing cheaper loans with a ceiling of one house in lifetime of a person may also be considered to give impetus to the sector besides offering accommodation at cheaper rates of interest.

— The writer is a Panchkula-based real estate expert

real talk
Buyers prefer ‘green’ features

Eco concerns have lead to an increased awareness about environment friendly building techniques leading to a drastic change in the way buildings are being constructed now. Developers now are more inclined towards providing not only the luxurious elements of modern-day living but also more sustainable and energy efficient buildings to the clients. Also because of the various safety norms, projects are being constructed to meet the demand and attain customer satisfaction across numerous residential and commercial properties. Abhay Kumar, CMD, Griha Pravesh Buildteck Pvt Ltd. talks about the new building techniques that are being used more commonly now. Excerpts:

What changes have been seen over the past decade in building techniques?

Buildings are being constructed now with more disaster-resistant and eco-friendly techniques. Before choosing the material and construction techniques, it has become necessary to think green.

Certain materials and methods are being used to suit the specific geographical locations. Thick walls with heavy thermal mass, for example, are more preferred as these modify the drastic change in temperature.

Today most of the construction materials being used contain recycled content. Many renewable techniques are being applied, such as using economical salvage and local materials which are readily available.

Which are the new techniques, concepts and technology that you have used in your projects?

We prefer using green construction techniques in our projects in order to meet green building guidelines. We have installed solar panels for common area lighting and hot water supply. Apart from rainwater harvesting systems, water recycling is being undertaken for gardening as well as plantations. Furthermore, we use less water, ensure energy efficiency, conserve natural resources, generate less waste and provide healthier spaces for residents. We also make it possible to meet the highest safety standards with Seismic Zone V sustainability to bolster safety norms.

You are using fly-ash bricks, what are the benefits of these?

We don’t use the conventional red bricks as these are heavier and are not environment friendly. We have been using the bricks that have cement and fly ash. These create thermal insulation and also help in sound proofing to some extent. These bricks are much lighter which reduces the load on the structure significantly. This ultimately makes the towers quite safe. Moreover, these bricks are highly durable and can be directly painted in dry distemper and cement paints without requiring a primer coat of lime plaster. Apart from providing smart looking brickwork, these also help in reducing dampness of the walls.

Is the Indian customer open to such changes and what has been the customer response to the use of these techniques in your buildings?

We have seen that the buyers perceive a developer to be more serious and credible if he offers green and innovative features in his project. Educated and aware buyers always opt for green buildings. It is pretty clear from the tremendous response of customers that they are whole-heartedly open to embrace such changes.

— As told to Geetu Vaid

Green house
Touch of nature indoors
CS BEWLI

Urban life now is all about traffic, dust and pollution. No wonder then that at the end of the day everyone wants fresh and clean environment at home. One way to improve the air quality in your home is to use plants indoors.

Indoor plants can also be used as key decor elements to make your decor style lively and vibrant. Fresh foliage provides contrast and texture to the existing interiors. Some of the plant species are easy to nurture and create greener and cleaner environment indoors.

Well-placed greenery not only brightens a space but is also linked to reduced stress levels in the area. A study by Dutch researchers shows that hospital patients with indoor plants in their rooms reported lower stress levels than patients lodged in rooms without plants.

Living room

To lend a natural look to the décor of living room, place a tall Ficus benjamina plant having a reasonable spread and standing about 4 ft in a unique and an ornamental planter. A ceramic dish with aquatic plants such as water lettuce, Salvinia natans, or floating fern makes an excellent decoration for the centre table or alternatively place flower petals and cut plants in a container and replace them every day.

Mantelpiece is a focus area in any room. A couple of good looking chlorophytums or crotons placed symmetrically along with other artefacts look good on the mantle piece.

Peace lily is another option as it is a shade-loving plant and watering twice a week is enough to produce blooms.

Floral display is at its best when it is created in a hanging basket and viewed at an eye-level height. A well-balanced and artistically prepared basket always attracts attention no matter where it is hung. Hanging basket with flowering plants is the sure shot and easy way to add colour and flair to a living room on special occasions.

Bedroom

The most recommended, relatively inexpensive and low maintenance plant for bedroom is Sanseveria trifasciata.

Kitchen

Plants tend to complement food and green foliage enlivens and calms the environment. Though it is difficult to find space for plants in a small kitchen, but a couple of small growing succulents such as kalanchoes and crassulas will thrive when placed on the window-sill. As the kitchen area is slightly warmer than the rest of the rooms, the soil in pots kept in kitchens tends to dry faster. So the approach for watering should be convenient as regular watering is essential in this area.

Bathroom

Plants that love low light and high humidity are suitable for the bathroom area as the moist environment helps them to grow well and also reduces their water requirement. These plants can be kept on window-sills, counter tops, in a corner, on a shelf or on the cistern. Where there is no space to keep pots, hanging pots is an option; this includes air plants also. These serve as gorgeous natural accessories to decorate your bathroom.

Plants that require high humidity, low light conditions and can be kept in bathrooms are: spider plant, snake plant, peace lily, pothos, ferns, bamboo and bromeliads.

Pot it right

Changing to a better pot is generally the quickest way to improve the look of a plant. Pots are available in various sizes, shapes, colours and materials. The shapes may be round, oval, square, rectangular or hexagonal with different textures; designer pots are also available. The pot should be able to hold the compost and blend with the colour scheme or should be in strong contrast to enhance the beauty of the room.

 

Tips to keep indoor plants healthy Check the soil before watering; water only when the top 1cm of the soil gets dry. Don't water with ice cold water. Fertilise soil with nitrogen, phosphorous and potash (NPK) once in two months during growing season. Don’t fertilise when the soil is dry. It is better to have two sets of such plants for their better survival and growth for regular availability of purified air in the rooms; these sets are to be placed alternatively in the rooms and out in filtered sun light. To promote growth, leaves should be sprayed regularly to clear the stomata holes of any dust and also to prevent tips of the leaves from dehydrating. Don’t place plants near a fireplace or a heater? Plants should receive enough of sunlight to promote a healthy photosynthesis process. Gradually shift a plant from a low light placement to direct sunlight. Repotting should be carried on need basis.

decor trends
Outdoor chic
Rajan Vashisht

Nowadays, it is easy to spruce up indoor and outdoor living space with accessories and garden products. Homes are no longer limited to the indoors only, but extend to the outdoor living areas as well. Whether one wants to host a dinner party or enjoy a quiet cup of coffee alone, the outdoors provide a perfect setting.

Optimum use of the outdoor space has become an important part of modern living. As a way of expanding the living area, many homeowners today incorporate great outdoors in their home decor project.

Vibrant elements

Creating or renovating an outdoor space has many elements. Landscape design, stonework and carpentry are all critical components of designing an outdoor haven. Similarly furnishings, lighting and accessories are also essential for creating a charming backdrop.

Deck up the patio

A patio or porch undoubtedly adds a welcoming outdoor living and entertaining space to any home. Today, modern living has gathered much momentum with a wide range of architectural home decor products. More than often, people spend a lot of effort and money on home decor and furnishing products. However, most of them ignore the patio or porch as a part of the overall home furbishing.

Choose the right furniture

An important consideration for picking outdoor furniture and accessories is the size and scale of the available area. Furnishings that are large or overstuffed can quickly engulf a small space. As a consequence one should look for furniture without arms that has simple lines and low backs.

Benches can be used along one or more sides of patio for additional seating. Also furnishings that can be folded or stacked and put away when not in use, work well for small spaces.

Most importantly ensure that the patio furniture and embellishments are as weather-proof as possible.

Outdoor furniture like simple low-back benches, rugs, throw pillows and chair cushions, all come in waterproof fabrics. Coupled with some garden products, the furniture can cheer up the overall outdoor living space.

Steel or wood construction in the patio furniture provides stability and longevity. However, without some stylish comforts such as soft cushions, the outdoor furniture will go largely unused.

Prints can work well in small spaces, as long as these are used sparingly. Stripes often work well on small patios because these can be used to create the illusion of height or length. When choosing patterns, stick with the ratio of 2:1 — two small-scaled patterns or textures with one sparsely used bold pattern to add interest and pop.

Container gardens

To add an extra zing, container gardens make excellent combination for small patios or balconies, and landscaping around the patio is a great way to enhance privacy and/or shade.

Be creative with the plants and combine various colours and textures in a single pot to make a unique arrangement.

Use pots in various shapes and sizes, and recycle unused household items, like wooden crates instead of traditional plant stand.

The patio space will be green, lively and have a personality of its own.

 

Lighting Lure When the sun disappears, a good source of lighting can make the patio welcoming as well as safe. Put lights near the walkways or on posts to show off the features of these areas. Solar lighting for the walkways is an ideal option for saving energy and reducing electricity bill. Rope or string lighting are popular mood setters, as are candles, which can also keep bugs away. Affixing little accessories, like a garden stool or umbrella, can add more personality where it's lacking. Garden fountains and wind chimes are also interesting choices for outdoor decor. A small water feature or bells can enhance a small patio and mask unappealing background noises. Successfully experiment with colour schemes and design to decorate the outdoor living area. However, make sure to keep the style consistent with the interiors in terms of architecture and ambience.

— The writer is working for Emaar MGF group

at home with fENG SHUi
Happiness on the table
Kavneet Aggarwal

The Feng Shui of the family dining room is very important if you want to activate for abundance luck for the family. The ideal location for the dining room is in the center or deep inside the home. When the heart of the home is regularly occupied by the whole family, it creates harmony and prosperity. The dining room is a middle ground where Yin personalities must interact with Yang persona. The two types must balance in order to raise the comfort level of the room and promote quality conversation. A dining room in perfect harmony is functional, free of distraction, and welcoming to all personalities of the household, including close family friends and relatives. Since the majority of your guests will never spend more than a glance inside this space, feel free to implement decorations that appeal to you and your family's taste.

When it comes to selecting auspicious dinning tables, it is useful to know that according to Feng Shui all the regular shapes are auspicious — square, rectangular, round, and even the octagonal Pa Kua shape. Each of the basic shapes also signify one of the Chinese elements, and it is the square (Earth), rectangular (Wood) and the round (Metal) shapes that are best for dining tables. The fire element shape is triangular, while the water shape is wavy.

Harmonious circle

The Chinese have always had a preference for round dining tables, because this is the shape that makes for harmonious meals. Family members quarrel and disagree less when the table is curved. A round table also has no sharp edges to disturb the harmony of the home. Indeed, it is rare to find anything but a round table in the dining rooms in Chinese homes and the larger the table, the more auspicious it is deemed to be. In addition, these tables are almost always made of the finest woods and are either carved with a collection of auspicious symbols or engraved with four-season fruits, plants, or flowers signifying auspicious abundance throughout the year.

The circle is also a special symbol signifying heaven chi. There is, thus, less possibility of energy becoming aggravating and the authority of the father figure is respected. Family members who sit together at a round table are deemed to be having a good relationship. To ensure good Feng Shui, individually and collectively, everyone should be allocated a seat around the table according to his/her best direction. Use the Kua directions to maximise their luck each time they sit down to dine together.

What is the Element of your Table. Activate the elements in dining room n the following manner:

Southeast: Enhance this wood sector with water elements such as blue curtains, cushions and rugs, or a water feature or aquarium to bring wealth luck.

South: Use red curtains, cushions and lights here to activate the fire element of this sector. This brings recognition and fame luck.

Southwest: Use red and ochre coloured décor here to strengthen the element of the sector to bring good relationship luck. Also enhance with lights or a crystal chandelier.

East: Use wood elements such as potted plants, flowers and cane furniture to enhance this corner to bring good health luck.

West: Display a portrait of family members with gold frame here to bring harmonious family luck and to activate the metal element.

Northeast: Place table lamps or crystals in this area to strengthen the earth energy here, to tap good education luck for the children.

North: Use an oil painting of a waterfall placed on the north wall to signify water coming from the North to enhance for good career luck.

Northwest: Paint the walls here white and match with grey curtains to activate the luck of the patriarch. Avoid too much red in this corner.

 

Tips to ensure an auspicious dining room Place the three star gods Fuk Luk Sau in your dining room to bring health, wealth and prosperity to the family. Fix a large mirror on one of the walls of your dining room to double the food on the table, symbolizing abundance. The best shapes for your dining table are round, rectangular or Pa Kua shaped (8-sided). Hang a chandelier in the center above the dining table. Display fresh flowers on your table to create vibrant chi energy. Arrange your family\ members to sit and eat facing their auspicious directions based on their respective Kua numbers. For wealth accumulation luck, display a bowl of garlic as a centerpiece to your dining table. The garlic need not be real. Place a Tang Bell at the side of your dining table. Knock the bell three times before starting a meal to welcome positive energies.

— The writer is a Panchkula-based Feng Shui and Vaastu Art expert and founder of Aartizen

Realty bite
RBI curbs to dampen sentiment

The Reserve Bank of India’s curbs on Indians investing in international real estate under the liberalised remittance scheme will dampen investor sentiment, property consultancy firm Jones Lang LaSalle said.

The RBI, seeking to support the battered rupee, recently announced measures to reduce foreign exchange outflows. The steps included disallowing the use of remittances by resident Indians to buy property overseas.

“The new restrictions have been introduced in an effort to stabilise the rupee. This move will have medium to long-term implications,” JLL CEO (residential services) Om Ahuja said in a statement. “Currently, the variety of options available on the international property market offer very attractive rental yield and valuations. This, now becoming restricted, is going to make planning difficult. The new restrictions will put a dampener on the sentiment of Indian investors who were considering this route,” Ahuja added. — PTI

Launch pad

The Jewel of Noida at Sector 75, Noida

Dasnac group launched “The Jewel of Noida” in Sector 75, Noida, earlier this week. The Rs 600-crore project will be an exclusive luxurious residential development spread over 5 acres with additional 2 acres of central green and surrounded by 8 acres of township green, being ensconced in the 150 acres eco city township in Noida's most affluent locality. The project has 7 towers consisting of 3, 4 and 5 BHK apartments with two categories of apartments ‘The Jewel Premier’ at a BSP of Rs 5,150 per sq ft. and ‘The Jewel Select’, private bungalow-style apartments with private elevators, pools and deck with BSP of Rs  8,150 per sq ft. There will be approximately 600 lifestyle apartments with an upcoming futuristic Iconic Tower to be launched at a later stage.

The project has been designed by a consortium of renowned architectural consultants from California and India. Grand Receiving lobbies with Imported marble, Multi-Level security, eHomes™ features, Valet Parking, Peripheral Traffic System, Solar Water Heating, Poolside deck with party lawns, Children Play Area, Health Club, Banquet Facility and Social lounge are just a few amenities available at The Jewel of Noida.

Ready-to-move-in apartments in Chennai

SARE Homes, a FDI real estate developer, has launched ready-to-move in apartments “Dewy Terraces” at SARE Crescent ParC located on the OMR road in Chennai.

Spread over 112.2 acres, SARE Crescent ParC township is located between the East Coast Road and the Old Mahabalipuram Road, and is a 30-minute drive from Tidel Park.

The new inventory in Dewy Terraces offers 2 and 3 bedroom apartments measuring between 907 - 1472 sq. ft. Built on stilt + 4 with lift, Dewy Terraces has private balconies, reserved car parking, ample power back-up, panoramic landscaping, and an exclusive 20,000 sq. ft. mega clubhouse within the township.

The price of these ready-to-move-in apartments starts from Rs 27.5 lakh.

My Shop at Lucknow

The DLF group recently launched ‘My Shop’ units at DLF City Centre in Vibhuti Khand, Gomti Nagar, Lucknow. The new product will provide a ready catchment to various brands, cafes etc. The city is a major market and trading place in northern India and an emerging hub for producers of goods and services. My shop, being in the heart of the capital of state, creates many more opportunities in the business and service sector with self-employed professionals burgeoning in the city.

Speaking on the occasion Ananta Singh Raghuvanshi, Director Marketing and Sales, DLF Universal Ltd said, “The construction of My Shop will commence after the monsoon season. It will offer ample parking space for the shopkeepers as well as the visitors. Subsequent to the launch of My Pad, we look forward to a similar response for My Shop as well. After Lucknow, we plan to introduce this international concept of living to various other cities like Ludhiana, Goa, etc. ” My Shop is designed to cater to a potential population of at least 25,000 residing in and around My Pad.

‘My Pad’ offered approximately 600 contemporary studio suites spread over 4.9 acres. While the upper floors of the complex provide studio suites, the ground and first floors are earmarked for high street shopping area.

— Based on information provided by the developers