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Vol 1, Issue 03

50/- Nov 2011

@

Buddh International Circuit Realtor’s Victory Lap

REAL ESTATE PROJECTS CHANDIGARH CAPITAL REGION DELHI NCR HIMACHAL

REAL ESTATE & INFRASTRUCTURE NEWS NHB’s DIWALI GIFT REAL ESTATE FOR SENIOR CITIZENS PROPERTY RIGHTS & HINDU WOMEN

2 New

Monthly Features inside

Flipside Realty Coach

PROFESSIONAL KNOWLEDGE & MOTIVATION KNOW YOUR HOME LOANS PROPERTY INVESTMENT FOR NRIs PANAMA CANAL

‘Burger’ King Ray Kroc & McDonald’s Real Estate


contents November 2011

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COVER STORY

BUDDH INTERNATIONAL CIRCUIT REALTOR’S VICTORY LAP

CONTRIBUTORS AND ASSOCIATES Publisher & Editor-in-Chief Jasmeet Dhamija jasmeet@propertyandwealth.in Editor Pankaj Sharma editor_inbox@propertyandwealth.in Feature Writers Priya Ghai, K.Singh, Rupinder, PD, Sheetal Singh Art Director Rajesh Kumar Graphics Team Bhupinder, Gagan, Sanju Advertisement & Sales Sandeep Kapoor, (M) 9818510511, sandeep@propertyandwealth.in Photography Rohit Bhatia Pre Press Team: NBC, Gopal Production Team: Upinder, Vikas, Vijay Advisory Board Harpreet Pooja & Associates, Architects Rajiv Gupta & Associates, Chartered Accountant Vikas Chatrath, Advocate Published, Owned and Printed by Sh. Jasmeet Singh at Plot No. 437-A, Industrial & Business Park, Phase - II, Chandigarh Printed at M/s Savitaar Press, Plot No. 820-21, Industrial Area Phase - II, Chandigarh

13 BRICKS

REAL ESTATE PROJECTS

CHANDIGARH CAPITAL REGION

DELHI NCR

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Accord Corporate Square Aero Homes Ansal API Golf Links - II ATS Golf Meadows Bestech Square Chandigarh Royale City

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DLF Hyde Park Estate DLF Valley Panchkula Godrej Eternia IREO Five River IREO Rise & Hamlet Multitech Tower 2 Ojas Grand, Zirakpur Savitry Greens Sushma Chandigarh Grande Sushma Green Vista Unitech Uniworld City Wave Estate

HIMACHAL

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Amravati Hills BTM Apartments DLF Samatara DLF Samavana Hill Farms Pine Wood Cottages

Angel Jupiter Ansal Heights 2 Aster Court Premier Civitech Sampriti Emaar MGF Palm Gardens India Bulls Enigma

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Jaypee Greens Aman-II Jaypee Greens Kassia Jaypee Greens Orchard Jaypee Greens, Garden Isles Towers Krescent Homes M3M Merlin Paras Tierea Ramaprastha City SCC Heights Spaze Privvy Universal Aura Vipul Gardens


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SAND

REAL ESTATE & INFRASTRUCTURE NEWS

Pune Slum Rehab Scheme

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Real Estate for Senior Citizens

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Bombay Dyeing’s Realty Design

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Infosys in Bengal

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Ahmedabad Metro

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Property Rights & Hindu Women

28

Habitat Scheme for Rural Poor

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Delhi’s Sealing & Demolition Drive

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Fixed Rate Home Loans

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Noida Extension Price Burden

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NHAI’s Rs 10,000 cr Public Issue

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New York Clinches Top Position

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Godrej Properties Engages

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Moscow Attracts More Companies

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AAI to Build Residences in Pune

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bimba & lola’s 1st London Store

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Railways Pay Land Losers

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Asia on Top

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New NH5 Projects

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Brad Pitt Puts up Bachelor Pad for Sale

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NHB’s Diwali Gift

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Shilpa Shetty’s Real Estate Endeavour

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Ray Kroc ‘Burger’ King & McDonald’s Real Estate

CEMENT

PROFESSIONAL KNOWLEDGE & MOTIVATION ‘Burger’ King Ray Kroc

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Panama Canal

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Know your home loans

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Property Investment for NRIs

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How to Stop Worrying and Start Living

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Realty Coach

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Flip Side

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DLF’s 250 Skill Training Centres

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Architectural Marvels of the World Panama Canal

Know your home loans

How to Stop Worrying and Start Living

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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editorial A PG in Mass Communication, Jasmeet is heading one of the most reputed publishing units in Chandigarh for the past 12 years. He’ s worked for a leading national daily in the past followed by a successful stint with a leading national publication as Chief Editor. The journalism bug never left him and his keen interest in property business resulted in the formation of this magazine.

iNspiration We’ve all read up something or the other about Apple’s cofounder, chairman, and CEO over the past one month following his death. There is however, a special remark he’d made about customer experience while addressing co-workers at Apple Inc. which I would like to mention here, and it goes thus: “One of the things I’ve always found is that you’ve got to start with the customer experience and work backwards to the technology. You can’t start with the technology and try to gure out where you are going to try to sell it.” To my mind, this was one of Steve’s strongest mantras. The customer is our guiding light and if you can see an improvement in a product or service from the customer’s point of view before your own, you cannot go wrong. It’s a tip worth remembering. It were strong fundamentals like these which set Steve apart, which made him the towering inspirational gure he is to the world today. And talking about inspiration, there is really no dearth of inspiration for inspiration seekers. Did you know that even in the present economic downturn, Indians topped the list of buyers in the world’s tallest tower, the Burj Khalifa in Dubai? They acquired space worth US $7.9 million in the rst seven months of its opening. “What better address than ‘B R Shetty, 100, Burj Khalifa, Dubai’,’’ said Dubai’s local businessman of Indian origin, the multi-millionaire entrepreneur B R Shetty when he bought out the 100th oor of the skyscraper.

jasmeet@propertyandwealth.in

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PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

Jasmeet Dhamija Editor-in-Chief


Ex-Sgt Pankaj Sharma sought premature retirement from Indian Air Force after 17 years of service to do ‘something else’ in life. He’s literally taken life as it comes, thereafter, working with an insurance company and following that up with managing the affairs of an IT Centre. It was a chance meeting with his school Principal, where she exhorted him to take up writing as a career, which eventually steered him to Property & Wealth.

About This Issue The top choice for Cover Story of the month had to be the Buddh International Circuit, venue for the recently concluded F1 race held in Greater Noida. Narain Karthikeyan, India’s rst Formula One driver, has ranked the Buddh International Circuit among the best ve F1 tracks in the world. Even top international drivers have expressed that among all the Hermann Tilke-designed circuits, the BIC was the most interesting. It would be fair to say that the Real Estate industry in India has touched a new high with the inaugural success of BIC. With BIC, the Jaypee Group has been able to place a little known district near the country’s capital on the global map and has lived up to its motto of “No Dream Too Big”. Property & Wealth has always endorsed the global outlook and this issue onwards, we’re going to include more interesting Real Estate related facts from around the world in the Sand Section. The Real Estate industry is the second highest employer in the country after agriculture. In other words, millions of people are presently engaged in this industry. ‘Flipside’ is a special addition to Sand Section; a monthly feature which will be highlighting their issues and concerns. But it is the inclusion of another interesting feature to the Cement Section—Realty Coach—which takes the cake. Based on feedback received from our dear readers, Realty Coach aspires to be just that, a coach. Expect to nd all sorts of advice related to property, whether you’re a buyer or a seller.

editor_inbox@propertyandwealth.in

Pankaj Sharma Editor VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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Cover Story

Buddh International Circuit

Realtor’s Victory Lap

The 5.14km long Buddh International Circuit has been designed by world-renowned German architect and racetrack engineer - Herman Tilke istory turned a page on the 30th of October, 2011 when India hosted its rst F1 race on the Buddh International Circuit in Greater Noida, Uttar Pradesh. The sheer magnitude of the event is yet to sink in, as millions of F1 fans in the country still pinch themselves in disbelief. The seeds of this grand carnival were sown in Oct 2007, when an exclusive 10-year contract to host the premier

H

F1 drivers Narain Karthikeyan (L) and Karun Chandhok (R) pose with Sameer Gaur, Managing Director and Chief Executive of JPSI

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PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

race was signed between Jaypee Group, which is a Rs 15,000 crore well diversied infrastructural conglomerate in India and F1 boss Bernie Ecclestone. Buddh International Circuit The 5.14km long Buddh International Circuit (BIC) has been designed by world-renowned German architect and racetrack engineer, Herman Tilke, who has also designed other world-class race circuits in Malaysia, Bahrain, China, Turkey, Indonesia, the UAE, South Africa, South Korea and the US. BIC has been designed as one of the fastest, most exciting motor racing i circuits in the world. It is well suited to the requirements of powerful, high-spec racing cars and motorcycles and will host some of the most challenging motorsports events on the planet. The track’s combination of 16 corners, high-speed straights and dramatic changes in elevation has been designed to provide ample opportunities for overtaking, which is what makes motor racing exciting. The centrepiece of the circuit is the nearly one-kilometre long back straight, which is sandwiched between two uphill right-handed hairpins - turns 3 and 4. A series of corners then leads


The Buddh International Circuit at Jaypee Sports City.

the cars to the amazing turn 10, a banked right-hander that almost doubles back on itself. At the same time, in terms of adherence to safety norms and regulations, runoff areas, medical facilities, facilities for the media and overall infrastructure, BIC measures up to the best in the world.

Turns: 16 Highest point of elevation: 14m Width of the track: Between 18m – 20m Top speeds on the circuit: About 320km/h for an F1 car Total seating capacity: 1,10,000 Approximate cost of building the track: US$400 million Distance from New Delhi: 40km approx.

BIC: Philosophy behind the name and the logo The name ‘Buddh International Circuit’ has been chosen with reference to the area where the racetrack is situated – Gautam Budh Nagar district (near Greater Noida). Because of its location, naming the circuit ‘Buddh International Circuit’ was a logical choice for the company. The BIC logo is a stylized ‘B’, the letter that stands for ‘Buddh’ and for ‘Bharat’. The orange, green and white colours used in the logo are representative of the Indian ag, while the curves in the stylized ‘B’ in the logo represent the lines of the racetrack.

About Jaypee Sports International Limited (JPSI) Established in October 2007, Jaypee Sports International Ltd., a subsidiary of Jaiprakash Associates Ltd. (JAL) successfully constructed India’s premier motorsport destination – Buddh International Circuit (BIC). More than 5,000 people worked at the site for nearly two-and-a-half years to build the circuit, which cost $200 million. The total expenditure on bringing the pinnacle of motorsport to India amounts to $350-400 million. In addition to F1, the track is also expected to host other top-level international motorsport events from 2012 onwards.

Buddh International Circuit: Fact Sheet Length: 5.14km

BIC is a part of Jaypee Sports City, which is spread over 2,500 acres. This facility will include a cricket stadium

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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Cover Story that is being developed in two phases and which will have a seating capacity of 1,00,000 people. There will also be a hockey arena, a sports training academy and infrastructure for other sports. Jaypee Sports City, the country’s rst fully integrated megacity built around a sporting lifestyle and featuring premium residential and commercial spaces, has been designed by world-renowned architects and planners, SOM. One of the world’s leading design consultants for the hospitality, leisure and entertainment industries, SOM has made a signicant contribution to making Jaypee Sports City the best of its kind anywhere in the world. Conclusion It’s a bit ironical that while all major car and motorcycle manufacturers are present in India, and given the fact that there has been a healthy interest in motorsport in the country for many decades, we still have a serious dearth of motor racing infrastructure. The Sriperumbudur circuit near Chennai and the Kari Motor Speedway near Coimbatore aren’t really up to the task of accommodating very fast, powerful machinery. And yet, these two tracks are all we had before BIC came up. A relatively small country like the UK has at least 18 motor racing circuits, while India has all of two. Its rst live pictures were beamed to India in the early nineties and by the time the turn of the millennium came along, people began dreaming for the racing world to descend here. It has been two decades in the making. But when Dr. Vijay Mallya and F1 supremo Bernie Ecclestone posed together in the paddock on the eve of the race, the world came to know that Formula One had nally come to India! The event will always be a spectacle to remember, after all who can forget the moment when the ‘Gods of Speed’ descended in Noida.

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PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

Real Estate Backdrop Jaypee Greens Sports City Yamuna Expressway Industrial Development Authority (YEIDA) launched an 8,350 plots scheme in the year 2009. Jaypee Group bought out 5,000 acres and 2500 acres was allotted for Sports Development Zone (SDZ) by YEIDA on noloss- no-prot basis; two patches of land were given by YEIDA for development of the Yamuna Expressway. SDZ was the scheme of YEIDA and when it was launched that time DLF also got a plot 2500 acres but after six month of allotment this land DLF withdrew from this development scheme. Jaypee Sport City is being developed along the Yamuna Expressway. Yamuna Expressway is an aspirant project of YEIDA which is being constructing by Jaypee Infratech Ltd. It is a 165 long road Noida-Greater Noida Expressway to Agra. Along this Expressway, ve cities have been planned and one of them is near Greater Noida. Jaypee Sports City is the part of this city. In addition, YEIDA has proposed land for industrial units. It is a place where there would be transport hub. Warehouse with wide storage capacity will be developed where goods will load and unload. Besides industry, educational institutions will enhance this city.


Bricks, Sand & Cement Investment in property can be compared to the act of building a wall. The content of Property & Wealth has been divided into three distinct Sections namely BRICKS, SAND & CEMENT in which different aspects of property business are taken up separately. BRICKS Section is dedicated to announcement of REAL ESTATE PROJECTS SAND Section is dedicated to REAL ESTATE & INFRASTRUCTURE NEWS CEMENT Section is dedicated to PROFESSIONAL KNOWLEDGE & MOTIVATION


BRICKS = REAL ESTATE PROJECTS The first requirement of building a wall is to get bricks and the first requirement of dealing in property is to know about the Real Estate projects undertaken by various developers across the country.


CHANDIGARH CAPITAL REGION Accord Corporate Square

ATS Golf Meadows

Location: Sohana-Landran Road, Sector 90, Mohali Highlights: IT/ITES ofce spaces, roof top garden, 100% power backup, 24X7 hi tech secutiry. Invest 23 lakhs & get 23000- per month.

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Location: Township Derra Bassi, 12 kms from Chandigarh. Highlights: 300 acre integrated township Club with swimming pool, squash court,indoor sports, basket ball Spacious Apartments with abundant parking Options: 3BHK, 4BHK, Penhouse. Villas, Plots

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Chandigarh Royale City

Location: Sector 116, Greater Mohali Kharar - Landran Road. Highlights: IT & Institutional set ups nearby. Golf Course & Ansal Plaza coming up in vicinity. Options: Independent Floors, Plots, SCO’s

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Location: Sector 66, Mohali Highlights: Mixed Use Residential, Ofce, mall & 5 star Hotel Site Options: 2BHK, 3BHK Residential Apartments, Ofce Space, Mall Space

Ansal API Golf Links - II

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Bestech Square

Location: Gazipur, near proposed Golf Course, Zirakpur Highlights: Keyless biometric entry, every at is corner & facing park, hi tech security Options: 3BHK only

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Location: Chandigarh-Patiala Road Highlights: 200 acre integrated city just next to Aerocity Options: Plots 200 sq yards and 250 sq yards

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details 14

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

mail at : bricks@propertyandwealth.in


CHANDIGARH CAPITAL REGION DLF Hyde Park Estate

IREO Five River

Location: DLF New Chandigarh, Mullanpur, Punjab Highlights: Punjab’s First Eco Town, Foothill of Shiwaliks, Club House, 11 acres of greens 100, 120 feet wide approach roads. Options: 350 and 500 sq yards plots

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Location: Pinjore Kalka Urban Complex, next to DLF Valley & Amravati Enclave Highlights: Surrounded by river & dam site on one end, mountains on the other end. 200 acre township with huge club house Options: Plots & Villas, 250,370,500,1000 sq yds.

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DLF Valley Panchkula

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Multitech Tower 2

Location: Industrial and Business Park 2, Chandigarh Highlights: Spread over 4 acres, Eternia is an ultra modern commercial complex with 4.8 lac sq feet of commercial space. Options: Ofce and Retail Space

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Location: Sector 98 and 99 Mohali Highlights: Ireo Hamlet is 32 acre gated township with club of its own. Options: Plots 250, 350 sq yards, Villas and low rise, mid rise 1BHK, 2BHK, 3BHK apartments.

Godrej Eternia

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IREO Rise & Hamlet

Location: Pinjore Kalka Urban Complex, Sector 3 Highlights: Panoramic View of the hills, site is situated on a plateau. only about 9 kms from Housing Board Colony Panchkula. Options: Independent Floors currently available only on resale

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Location: Sector 90, Mohali Highlights: World Class Building designed by Hafeez Contractor In close proximity to Phase VIII B, an upcoming IT destination with several MNCs Options: 3BHK and 4BHK

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details

mail at : bricks@propertyandwealth.in

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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CHANDIGARH CAPITAL REGION Ojas Grand, Zirakpur

Sushma Green Vista

Location: VIP Road, Zirakpur Highlights: Sky banglows with drawing cum Dining Room, Family Lounge, Home Theatre room, Mandir ,Store and Servant Quarter Options: 88 ats of 4000 sq ft each and 8 penthouses of 7000 sq ft each

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Location: Gazipur, Zirakpur, Near Chandigarh Highlights: Premium 2 BHK apartments near upcoming Golf Course Options: 2BHK aprartments 1276 sq. feet. WiFi zone, round the clock security with CCTV.

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Savitry Greens

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Wave Estate

Location: Chandigarh-Ambala Highway Highlights: Designed by R204DESIGN, leading US architecture rm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming pool Options: 3BHK ats 1885 sq ft.

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Location: Sector 97, 106, 107 Mohali Highlights: 300 acres integrated townshop Options: Plots 360 to 500 sy yards Gardens Apartments 2BHK, 3BHK, Independent Floors

Sushma Chandigarh Grande

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Unitech Uniworld City

Location: VIP Road, Zirakpur Highlights: Amphitheatre Common Library, Club, Gym, Jogging Track. Ultra Modern UPVC Windows to keep your house insulated. Options: 2, 3, 4BHK Apartments

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Location: Sector 85, Mohali Highlights: Spread over 300 acres, Wave Estate has already completed all basic infrastructure needs. Greens & landscapes are well planned. Options: Plots, Villas, charming oors and plush condominiums

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details 16

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

mail at : bricks@propertyandwealth.in


DELHI NCR Angel Jupiter

Civitech Sampriti

Location: Indirapuram, Ghaziabad Highlights: Vastu friendly layout, large balconies, 10 min from Anand Vihar ISBT Delhi Options: 2 & 3 BHK 1056 to 1850 sq.ft.

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Location: Sector 77, Noida Highlights: North - East facing corner plot with 45 mtr. road on both sides, Central garden, Vaastu compliant, All are corner ats Options: 2, 3 & 4 BHK

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Ansal Heights 2

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India Bulls Enigma

Location: Sector 85, Gurgaon Highlights: 3/4 BHK Vaastu Compliant Luxury Apartments, Imported Modern Options: 3 & 4 BHK 1970 – 2410 sq.ft

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Location:NH-8, Sector 83, Gurgaon Highlights: •Modern gated 22 acres development •8 Acres Central Landscaped Greens and Park •Near to ISBT Options: 1,720 Sq.Ft. to 3,750 Sq.Ft. , 3BHK, 5 BHK Ground Floor, Duplex and Penthouse

Aster Court Premier

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Emaar MGF Palm Gardens

Location: Sector 86, just 700 mtrs from Delhi Gurgaon Expressway Highlights: Possession to be offered in 3 yrs from booking Secured gated community Adjoining the DLF project IFFCO Chowk - 15 minutes drive Options: 2BHK, 3BHK, 1350 1890 Sqft

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Location: Sector 110, Gurgaon Highlights: Full feature clubhouse, Themed Landscapes, high-Response Security systems, World-Class tness and Sports facilities, Green Architecture, Options: 3400, 3900 sq feet, 4BHK, 5BHK

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details

mail at : bricks@propertyandwealth.in

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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DELHI NCR Jaypee Greens Aman-II

Jaypee Greens, Garden Isles Towers

Location: Sector 151, NoidaGreater Noida Expressway Highlights: Feng Shui / Vaastu Compliant Clubhouse & Community Centre 100% power backup Options: 2BHK, 3BHK, Duplex 850 to 2017 sq feet.

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Location: Noida-Greater Noida Expressway Highlights: Foodball eld, cricket eld, cycling track, tennis & basket ball courts, Unique Y shaped apartments. Options: 2, 3, 4 BHK Apartments

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M3M Merlin

Location: Wish Town, Noida Highlights: Greg Norman designed golf course view, 5 min drive from South Delhi, Cascading greenery of landscaped parks &thematic gardens Options: 1235 – 4285 sq.ft. 2,3&4 BHK

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Location: Noida, Sector 134 Highlights: Chip & Putt Golf Course Beautifully designed landscaped areas Options: 1115- 2375 sq. ft 2 3 & amp, 4 BHK Residential Apartments

Jaypee Greens Orchard

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Krescent Homes

Location: Jaypee Sports City, Greater Noida Highlights: Tropical architecture, Yoga, aerobics, spa and massage rooms, India’s 1st Formula One Racing Track Options: 1, 2, 3, 4 BHK personal suites

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Location: Sector 67, Gurgaon Highlights: Singapore theme Luxury Residence Compact & Well ventilated Units Modern and Youthful product Options: Area 1800 Sq.Ft. to 5500 Sq.FT. 3BHK, 4BHK, Penthouse.

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details 18

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mail at : bricks@propertyandwealth.in


DELHI NCR Paras Tierea

Spaze Privvy

Location: Sector 137 Noida Highlights: On Noida – G.Noida Expressway, South Delhi is 15 min. away thru DND yover Sector - 18 Noida, Market is 10 minutes away, Amity University, Lotus Public School are in close vicinity. Options: 2BHK, 3BHK

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Location: Sector 93, Gurgaon Highlights:80% Greenery Meditation court, nature park 3 side open apartment Amphitheater & Gymnasium Options: 2 / 3 & 4 BHK Residential Apartments 1297 to 2532 sq.ft.

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Vipul Gardens

Location: Raj Nagar Extension, Ghaziabad Highlights: Executive Luxury Flats, Private garden space and open terrace, Earthquake resistant Options: 1/2/3 BHK 615 – 1350 sq.ft

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Location: Sector 82, Gurgaon Highlights: Strategically located, In close proximity to proposed metro station Options: 2/3/3+1/4 BHK

SCC Heights

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Universal Aura

Location: Sector – 37 D, Ramprastha City, Gurgaon Highlights: A township spread over 450 acres, 0 km from Dwarka Expressway & Metro Station, 15 min. drive from IGI Airport. Options: Premium Condominiums 1725, 1750 and 2025 sq feet 3 BHK

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Location: NH-8, Dharuhera Highlights:Latest architectural standards & Vastu norms, just a few minutes away from shopping malls, hospitals, schools and other public utilities. Options: 1,2 & 3 BHK

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details

mail at : bricks@propertyandwealth.in

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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HIMACHAL Amravati Hills

DLF Samavana

Location: 3km from Solan on Solan Sabathu Road. Highlights: Registry for built up area for built area Even for non Himachlis. Enjoyable weather round the year Options: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.

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Location: Kasauli Hills at 5000 feet, nearly 15kms from Kasauli amidst pristine environment. Highlights:Each Villa & Apartment providing a panoramic view of Mountains. Landscaped Gardens, Swimming Pool & Gym. International 5 star Hotel Options: Villas and Apartments

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Pine Wood Cottages

Location: Simla Hills, Bemloi, Near CPRI complex Highlights: Luxury Cottages Priced between 2.5 to 3.9 crores. Simla’s rst residential gated complex Options: Super area varies from 2700- 3100 sq feet. Luxury Cottages. 0

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Location: Dharampur Sapatu Road 2 kms from Hotel Victoria Intercontinental Highlights: Panoramic View of the valley. Non Himachalis can buy in their own name. Specially imported pre fabricated apartments. Options: 1BHK/2BHK on 400 sq yard Plot

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Hill Farms

Location: Solan Simla Bye pass Kumar Hatti Highlights: furnished apartments each unit has three sides opening-provides Abundant living, ventilation & further 270 degree wide angle view of scenic beauty of mountain Chain Options: 2BHK Apartments

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Location: Solan Simla Old Road, Kumar hatti Highlights: Beautiful fully furnished apartment With un spoilt view of the mountains. An ideal hill farm house. Options: 2BHK and 3 BHK

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Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specic & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

For More Details 20

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

mail at : bricks@propertyandwealth.in


SAND = REAL ESTATE & INFRASTRUCTURE NEWS After bricks, the next building material which comes to mind is sand, which we’ve equated with current news related to Real Estate and Infrastructure.


national news

Pune Slum Rehab Scheme

Ahmedabad Metro

The success of the slum rehabilitation work in Yerawada, Maharashtra, will be a part of an international exhibition at the United Nations (UN) in New York, from October 15 to January 9. The exhibition has been organised by the Samithsonian Institution’s Cooper-Hewitt, National Design Museum. The rehabilitation scheme is run under the Union government’s Basic Services for the Urban Poor (BSUP) programme. The exhibition is titled ‘Design with other 90%: CITIES’ and funds for the project are granted under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The cost of each unit of housing in this scheme is Rs 3 lakh, of which 10% comes from the beneciary, 50% from the Central government and 10% each from the corporation and the state government. The exhibition at New York explores the design solutions that address the challenges created by rapid acceleration in urban settlements.

The Ahmedabad-Gandhinagar metro rail project is getting bigger. The rail project linking the twin cities is now taking shape of a network covering other cities of Gujarat. The Gujarat Metro Grid (GMG), as the Rs 1 lakh crore project has been named, is being designed as a multi-modal transport system, including metro, providing connectivity to passengers as well as freight movement. As per the original plan, the metro route was to link industrial areas like Dholera, where a special investment region is coming up, with Gandhinagar via Ahmedabad. In its new avatar, important destinations across Gujarat will be connected through rail. Chief minister Narendra Modi is netuning the provisions of GMG, which has a 20-year horizon, and is likely to make an announcement soon. The project consists of metro rail, mono rail, light-weight transportation system, servicing urban and municipal areas, especially major cities of Ahmedabad, Vadodara, Surat and Rajkot.

Bombay Dyeing’s Realty Design The 132-year old textiles rm Bombay Dyeing is getting its biggest makeover ever. Beginning this scal year, over half of the company’s revenues will be generated by the real estate business, which will grow to 75% in ve years. The Wadia Group and Bombay Realty, the group’s real estate arm, have a land bank of around 10,000 acres spread across the country, including 700 acres of prime land in the city of Mumbai that were acquired at rock bottom prices, historically by group rms Bombay Burmah, Bombay Dyeing, Britannia and the current and erstwhile promoters in the 1800s and 1900s. In what could be a windfall for the shareholders of the company, the Wadias have nally decided to get into real estate development in a big way. The real estate division of the company commenced partial property development at Spring Mills at Dadar in central Mumbai in 2005-06, but the big thrust is expected from this scal year. In 2010-11, only a quarter of its revenues of Rs 1,950 crore came from the sector.

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PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

Habitat Scheme for Rural Poor The rural development and drinking water and sanitation ministries have prepared an “integrated habitat development scheme”, which is a convergence of three existing schemes — rural housing, drinking water and total sanitation schemes. In order to cover as much ground as possible ahead of parliamentary elections scheduled in 2014, the aim is to roll out the proposed scheme by December 2012. The ministry is looking to bring in a private partner, HDFC, for the scheme. The aim is to ensure integrated development of habitations. Drinking water and sanitation facilities are absolute essentials in any housing project, however, providing all three requirements seldom happens at the same in the rural areas. The proposed houses would be permanent constructions of at least 300 square feet, with toilet facilities and a minimum of three taps from the common water supply source, which should have 24 hours supply.


Fixed Rate Home Loans Axis Bank has become the rst lender to come out with a mortgage scheme where the interest is xed for the entire loan term. The bank will charge interest at 11.75%. The bank has said that it guarantees the xed rate for a tenure up to 20 years. The loans are available for up to 85% of the property value for loans up to Rs 20 lakh and 80% of the property value for loans above Rs 20 lakh. Other lenders HDFC, ICICI Bank and LICHF offer a combination of xed and oating rate loans where the interest rate is xed for the initial years. For smaller-sized loans, Axis Bank’s xed loan rate works out almost 100 basis points higher than the 10.75% on oating rates. But on larger loans the difference between the oating rate and xed rate loan ranges between 50 basis points to 75 basis points. Axis has launched the xed rate loan, Nischint, at a time when RBI has been sending out signals that it may have to raise rates yet again to keep ination under check.

NHAI’s Rs 10,000 cr Public Issue Investors will soon get the option of investing in taxfree infrastructure bonds worth Rs 10,000 crore, as the National Highways Authority of India (NHAI) plans to come out with a public issue by the middle of November. NHAI had earlier planned to go for private placement in order to raise funds faster but later decided to go in for the public issue due to the prevailing interest rate scenario. Raising funds is a part of NHAI’s nancial plan to raise Rs 63,000 crore in the next 20 years. The highways authority will use this to make the payment for its build, operate and transfer (annuity) projects and viability gap funding. Annuity is a model of road building. In this model, the developer builds the road and the government pays it in installments. The government has a huge annuity liability of Rs 24,386 crore for 41 projects. NHAI has announced to award 59 projects covering 7,994 km with a total cost of around Rs 60,000 crore. But in the current nancial year, it does not plan to borrow any money apart from Rs 10,000 crore from the market.

Godrej Properties Engages Godrej & Boyce Godrej Properties has entered into an agreement with Godrej & Boyce (G&B), under which the realtor will act as a development manager for development of the group-owned land in suburban Mumbai. Privately-held Godrej & Boyce is into various businesses including home appliances, security equipment, furniture and process equipment among others. Godrej Properties will act as development manager and will be responsible for the conceptualisation, design, sales, and marketing of all future development on the G&Bowned Vikhroli land and for its services, Godrej Properties will receive a fee of 10% of the total revenue generated from the development.

AAI to Build Residences in Pune The Airports Authority of India (AAI), Pune continues to wait for the sanction of a 10-acre government land for its project to build residential quarters for AAI and Central Industrial Security Force (CISF) ofcials and employees. As of now, most AAI and CISF ofcials are residing at homes rented on their own in areas such as Vishrantwadi, Tingrenagar and Lohegaon. A residential complex is a long-pending project of the AAI, Pune. In fact, the AAI had initially sought a 20-acre land but, has since scaled down the requirement to 10 acres. Postmerger of the erstwhile International Airports Authority of India and the AAI and the Lohegaon airport modernisation works that began in August 2008, the number of AAI staffers in Pune has gone up signicantly.

VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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national news

Railways Pay Land Losers

NHB’s Diwali Gift

Indian Railways has duly compensated the owners of land it plans to acquire for the 19.5-km Dankuni-Furfura Sharif rail project in West Bengal. While some of the 193 plot owners accepted cheques reluctantly, saying they know they will certainly lose their land and fear losing out nancially if they refuse compensation, others returned dejected on hearing about the “measly compensation amount” and lack of assurance about a job for a member of each family giving up land. Before the polls, Trinamool had assured that compensation apart, a member of each family that loses land for the project would get a railway job. Notices under Section 4 of the Land Acquisition Act had been served a week in advance to acquire the land comprising 33 plots.

There is good news for thousands of homeowners who have availed of loans from any of the 54 housing nance companies (HFCs) with the National Housing Bank banning levy of pre-payment penalty. NHB, which is the housing nance regulator, has also asked HFCs to ensure that all borrowers pay the same interest rate, irrespective of when the loan was taken. The two decisions will cover all HFCs ranging from HDFC to LIC Housing Finance and Dewan Housing Finance and both come into effect immediately. By notifying the new rules, NHB has initiated a step that the Reserve Bank of India has been contemplating for a while. Although the banking regulator has discussed the issue with banks and ombudsmen, it is yet to notify the norms. As a result, only 33% of the Rs 5 lakh crore housing nance market will benet from NHB’s decision.

New NH5 Projects With trafc woes multiplying on the National Highway-5, which passes through the port city of Vishakapatnam, the National Highways Authority of India (NHAI) has chalked out a massive plan to construct eight yovers and 11 underpasses, besides foot overbridges. The project is estimated to cost Rs 790 crore. Plans are also afoot to widen the roads from four lanes to six lanes. The construction work is expected to begin in the rst quarter of next year. The authorities have identied key junctions in the city from Maddilapalem to Lankelapalem, a 25-km stretch, which comes under NHAI jurisdiction. The need for expansion of the roads was felt with the number of four-wheelers, two-wheelers and autos’ increasing by fourfold compared to the year 2000. NHAI ofcials are also planning to install FOBs at schools, nursing homes, temples and residential areas, besides a pedestrian underpass at Burma camp area.

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Real Estate for Senior Citizens At a macro level, though the real estate sector is facing challenging times, there are rms exploring niche areas to drive business growth. A nascent trend gaining ground in the real estate landscape is developing homes for senior citizens. According to the 2011 Census, there are more than 10 crore Indians above 60 years of age in India. Steadily increasing life expectancy, lack of safety and security in urban areas, rising number of nancially independent senior citizens and trend of nuclear family life have made senior citizens an ideal target customer for niche offerings by real estate rms. Retirement homes offer services such as facilities management, easy access to healthcare services, security systems, recreation facilities and spiritual enclaves, among others.


Infosys in Bengal IT bellwether Infosys Technologies is expected to begin construction work on the 50-acre plot in Rajarhat Action Area III in another four months. Rajarhat is a fast-growing planned new city near the Netaji Subhash Chandra Bose International Airport near Kolkata, West Bengal. The place is an impressive information technology and computer engineering hub. The company has recently paid the entire amount — Rs 75 crore — for the land and it would get possession of the plot after conducting a joint inspection with Housing Infrastructure Development Corporation (HIDCO). As per procedure, the company, after getting possession of the land, needs to apply to the state government to obtain SEZ status. Then it will apply to the Central Ministry of Commerce and Industries for project approval. This would be the rm’s rst centre in the state. It employs more than 1,40,000 globally and aims to add a total of 45,000 people across the globe this year.

Property Rights & Hindu Women A Hindu woman or girl will have equal property rights along with other male relatives for any partition made in intestate succession after September 2005, the Supreme Court has ruled. A bench of justices R M Lodha and Jagdish Singh Khehar in a judgment said that under the Hindu Succession (Amendment) Act, 2005, the daughters are entitled to equal inheritance rights along with other male siblings, which was not available to them prior to the amendment. The apex court said the female inheritors would not only have the succession rights but also the same liabilities fastened on the property along with the male members. The apex court passed the ruling while upholding the appeal led by Ganduri Koteshwaramma, daughter of late Chakiri Venkata Swamy, challenging the Andhra Pradesh High Court’s decision not to recognise equal property rights of women along with their male siblings.

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Delhi’s Sealing & Demolition Drive Intensifying the sealing and demolition drive in the capital, Municipal Corporation of Delhi (MCD) recently razed unauthorized constructions and sealed illegal portions of 63 properties in Rohini and Civil Lines zones. Properties in Model Town, Shalimar Bagh, Mukherjee Nagar, Kamla Nagar, Kanhaiya Nagar and other areas under Civil Lines zone and Rohini zone faced the action. The civic agency has been carrying out a survey in the city, identifying dangerous and illegal constructions, and properties that have illegally built portions that aren’t part of the sanctioned building plan.

Noida Extension Price Burden on New Buyers The Allahabad High Court has cancelled land acquisition in Uttar Pradesh’s Greater Noida villages of Chakshahberi, Abdullapur and Devla. Farmers of 61 other villages will get a hike of 64 percent in compensation, the court ruled. The HC has ordered the suspension of any construction activity in the area where land acquisition has not been scrapped before it is assured that the developments work was in accordance with the norms laid down in the masterplan of National Capital Region (NCR) Planning Board. Authorities would now have to return the acquired land in three villages of Yusufpur Chak Sahberi, Abdullapur and Devla which has been scrapped by the court. Farmers who have received compensation in these three villages would return the money to the authorities. As per the agreement between Greater Noida Authority and the developers after the settlement in Patwari village, a part of the increased compensation package will be borne by developers. They, however, have assured that the higher cost will not be passed on to existing buyers.


international news

New York Clinches Top Position

bimba & lola’s 1st London Store

Investors are ooding into commercial property markets in core global cities, with New York attracting the most investment during the last year, according to a report from global property consultant Cushman & Wakeeld. ‘The Big Apple’ city as it is popularly known, knocked London off the top spot as the city attracting the most commercial property investments in the world as it witnessed a 165% increase in the year to Q3 2011. The ‘Winning in Growth Cities’ report identies the largest and fastest-growing cities in terms of commercial real estate investment, the difference in pricing, as well as demand and activity within individual sectors. The report is based on estimates for the year to Q3 2011.

Spanish fashion brand bimba & lola has entered the UK market for the rst time with a new store at Westeld London. Advised by Cushman & Wakeeld, bimba & lola has secured a 1305 sq ft store on a 10-year lease on the ground oor of Westeld London adjacent to Phase Eight. bimba & lola’s eclectic and contemporary collections include accessories as well as ready-to-wear garments. The brand was launched in 2006 and is currently present in 12 countries with a total of 115 stores across Europe, Latin America, Asia and the Middle East. London joins other European capitals, including Madrid, Lisbon & Paris, where bimba & lola has a presence.

Asia on Top London is the leader for overseas investors. Tokyo saw activity ease as the disruption of the earthquake; tsunami and nuclear disaster disrupted the market but still held on to third place.

Moscow Attracts More Companies Moscow has been ranked the most desirable European city for companies to expand into for the second year running, according to a survey by global property consultant Cushman & Wakeeld. The number of European companies which expect to locate in Moscow within the next ve years has jumped to 57 from 47 in 2010. London, Paris and Frankfurt remain the top three European cities in which to do business overall. As well as increasing its lead as the number one city for companies to expand in, Moscow has also risen signicantly in the ranking of best European cities in terms of easy access to markets. This year it takes 11th position, up from 19th in 2010.

Industrial commercial property rents in Asia jumped by over 5% last year in contrast to the rest of the world where the occupational market deteriorated in the majority of markets, according to Cushman & Wakeeld’s Industrial Space Across the World 2011. Globally, rents in industrial locations decreased by around 1.2%. The same decline was true in the U.S. as a whole, and EMEA (Europe, Middle East and Africa). The report, which monitors rents and total occupancy costs in 53 countries, reveals that Jakarta, Beijing and Singapore performed very strongly in 2010. In the ranking of the most expensive industrial locations around the world, Singapore climbed from 19th position to 4th with a rental increase of 14.9%. Rents in the Greater Jakarta area in Indonesia jumped by 21.7% and in Beijing, by 17.5%. London’s Heathrow maintained its number one position for the tenth year running with an occupancy cost of €235 per sq m per year. Tokyo remained in second place (€183 per sq m per year), and Geneva (€164 per sq m per year) moved up to third from fourth last year.

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celebrity news

Brad Pitt Puts up Bachelor Pad for Sale at $ 13.75 million Hollywood star Brad Pitt is reportedly selling his 4-bedroom Malibu Beach bachelor pad for a whopping $13.75 million. He had purchased this property in 2005, right after his divorce with ex-wife Jennifer Aniston and right before his another attempt at romance with Angelina Jolie. The pad originally cost the “Ocean’s Eleven” star $8 million, after which he introduced certain changes in the home, such as the inclusion of a heated lap pool and a tennis court. Six years after putting the property for sale, an additional $5.5 million was added to the price, quite a surprising development given that all the other luxury real estate property in the country have gone down in market value. In fact, the property was already put up for sale in 2009 for $18 million but was slashed down before it entered the real estate market again this year. The bachelor pad measures 4,088 square feet and sits on 1.26 of prime land in the Encinal Bluffs area of Malibu. It was originally built in 1962 and now features glass walls, ocean views, three replaces, a walk-in freezer, and dark bamboo oors. It has direct path that gives access to the beach and features Cindy Crawford and Leonardo DiCaprio as neighbors. Not a very bad deal at all for a fan rich enough to purchase it.

Shilpa Shetty’s Real Estate Endeavour Bollywood actor and Big Brother winner Shilpa Shetty and her Britishborn Indian businessman husband Raj Kundra are foraying into the real estate business in a big way by launching a premium residential apartment complex near the Mumbai domestic airport and by bidding for Hindustan Unilever’s Gulita property in Worli. The co-owners of the IPL cricket team Rajasthan Royals also announced a tie-up with a Mumbai entrepreneur to launch an Indian property discount site, targeting group buyers looking for a bargain. Kundra Constructions, Kundra’s company, has bought a plot of land near the Mumbai domestic airport, where it will construct premium residential apartments priced between Rs 1 crore and Rs 5 crore. The project will be launched in the next three months and Kundra is open to partnership for further development. 30

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3


CEMENT = PROFESSIONAL KNOWLEDGE & MOTIVATION CEMENT is known for its binding property and in this Section, we’ll be fortifying the information gained in previous Sections with some Professional Knowledge & Motivation


CEMENT

Real Estate Champions Monthly Feature

Ray Kroc ‘Burger’ King & McDonald’s Real Estate During the early 1950s in America, a 50 year old entrepreneur selling milk shake-mixing machines reached a small hamburger stand run by two brothers, Dick and Mac McDonald. The McDonald brothers’ restaurant was unlike any Ray had ever seen. In contrast to the popular drive-in restaurants of the time, it was self-service, had no indoor 32

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

seating, and the menu was limited to cheeseburgers, hamburgers, fries, drinks and milk shakes, all of which were produced in an assembly-line fashion that enabled customers to place their orders and receive their meals in less than a minute. Kroc quickly calculated the nancial rewards possible with hundreds of these restaurants across the country.


God stopped manufacturing land a long time ago but He forgot to hang a board anywhere on total number of occupants allowed. Thus, while the human race has kept multiplying over the years, the total land allocated to them has always been limited and permanent. Some of the smartest people in the world have turned to Real Estate as a profession but not all of them have succeeded. And only those out of them with ‘something extra’ could eventually make it to the top.

But when he approached the McDonalds with the idea, they told him they weren’t interested in doing it themselves. So Kroc offered to do it for them. The brothers agreed, and gave Kroc the exclusive rights to sell the McDonald’s method. McDonald’s Real Estate For some time after his hire, Kroc was struggling to make the business protable. He wasn’t bringing in enough revenue from his franchised restaurants. Part of his trouble was in getting the funds to pay for the land and the building for the restaurant. In order to maintain control over operations, Kroc needed to franchise one store at a time, rather than a whole slew of stores over a particular geographic zone, which is what other food chains did. Although other chains could attract big investors, the franchisees Kroc attracted didn’t have the funds to pay for the land and the building. That all changed in 1956 when he hired Sonneborn, who convinced him that the real money was in real estate. Sonneborn’s idea was to have the McDonald’s company lease a plot of land and the building for each restaurant. The company would then sublease to the franchisee who would run the restaurant. Sonneborn further developed the plan to eventually take out mortgages to own both the building and the land. Kroc soon established the Franchise Realty Corp. to nd willing landowners. At rst, McDonald’s charged franchisees markups of 20 percent of lease costs, but it eventually increased this to 40 percent. Franchisees were responsible for insurance and taxes, ensuring a steady prot for the company as long as the restaurant stayed in business. But that’s not all: The rent due to McDonald’s could be even more if the restaurant was doing well. The franchisee

had to pay either the stipulated lease markup or 5 percent of the sales -- whichever was higher. Kroc and Sonneborn also requested up-front security deposits from the franchisees. What the franchisees didn’t know was that this capital would fund the opening of more restaurants. Overall, this created a symbiotic relationship between the franchisee and the company -- McDonald’s Corp. had a vested interest in the ongoing success of its individual restaurants McDonald’s Brand Loyalty This business plan gave Ray Kroc the success and leverage he needed to get the loan to buy out the McDonald brothers in 1961. By 1963, Kroc opened his 500th McDonald’s restaurant. In 1965, the company went public, and Kroc made $3 million. Two years later, he took McDonald’s restaurants outside the U.S. to Canada, and eventually to Europe and Asia. His wealth would amass to $500 million in the following 10 years. Twenty years after it went public, McDonald’s was included in the 30-company Dow Jones Industrial Average. The McDonald’s Web site boasts that the company has been a wise investment, saying about $2,000 worth of stock in 1965 would translate to more than $3 million worth in 2006. As we’ve seen, McDonald’s is drenched in the business of real estate as much as it is in food. And, as we’ve all heard, the three most important elements of real estate are “location, location, location.” Back in Kroc’s days with the company, he would y around in a plane or helicopter looking for the best spots to set up McDonald’s restaurants. He specically looked for land near schools and churches in a community. Today, Mc Donald’s boasts of 32,000 restaurants serving more than 60 million people in more than 100 countries every day.

“The denition of salesmanship is the gentle art of letting the customer have it your way.” – Ray Kroc VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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CEMENT

Monthly Feature

Architectural Marvels of the World Panama Canal

Aerial view of Gatun locks on the Panama Canal

he 48 mile-long (77 km) international waterway known as the Panama Canal allows ships to pass between the Atlantic Ocean and Pacic Ocean, saving about 8000 miles (12,875 km) from a journey around the southern tip

T

with the United States. The Hay-Bunau-Varilla Treaty allowed the U.S. to build the Panama Canal and provided for perpetual control of a zone, ve-miles wide on either side of the canal.

of South America, Cape Horn.

History of the Panama Canal From 1819, Panama was part of the federation and country of Colombia but when Colombia rejected United States plans to build a canal across the Isthmus of Panama, the U.S. supported a revolution that led to the independence of Panama in 1903. The new Panamanian government authorized French businessman Philippe Bunau-Varilla, to negotiate a treaty

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Although the French had attempted construction of a canal in the 1880s, the Panama Canal was successfully built from 1904 to 1914. Once the canal was complete the U.S. held a swath of land running the approximately 50 miles across the isthmus of Panama. The division of the country of Panama into two parts by the U.S. territory of the Canal Zone caused tension throughout the twentieth century. Additionally, the self-contained Canal Zone (the ofcial name for the U.S. territory in


Panama) contributed little to the Panamanian economy. The residents of the Canal Zone were primarily U.S. citizens and West Indians who worked in the Zone and on the canal. Anger ared in the 1960s and led to anti-American riots. The U.S. and Panamanian governments began to work together to solve the territorial issue. In 1977, U.S. President Jimmy Carter signed a treaty which agreed to return 60% of the Canal Zone to Panama in 1979. The canal and remaining territory, known as the Canal Area, was returned to Panama at noon (local Panama time) on December 31, 1999. Additionally, from 1979 to 1999, a bi-national transitional Panama Canal Commission ran the canal, with an American leader for the rst decade and a Panamanian administrator for the second. The transition at the end of 1999 was very smooth, for over 90% of the canal employees were Panamanian by 1996. The 1977 treaty established the canal as a neutral international waterway and even in times of war any vessel is guaranteed safe passage. After the 1999 hand-over, the U.S. and Panama jointly shared duties in defending the canal. Operation of the Panama Canal The canal makes the trip from the east coast to the west coast of the U.S. much shorter than the route taken around the tip of South America prior to 1914. Though

trafc continues to increase through the canal, many oil supertankers and military battleships and aircraft carriers can not t through the canal. There’s even a class of ships known as “Panamax,” those built to the maximum capacity of the Panama canal and its locks. It takes approximately fteen hours to traverse the canal through its three sets of locks (about half the time is spent waiting due to trafc). Ships passing through the canal from the Atlantic Ocean to the Pacic Ocean actually move from the northwest to the southeast, due to the east-west orientation of the Isthmus of Panama. Panama Canal Expansion In September, 2007 work began on a $5.2 billion project to expand the Panama Canal. Expected to be complete in 2014, the Panama Canal expansion project will allow ships double the size of current Panamax to pass through the canal, dramatically increasing the amount of goods that can pass through the canal.

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CEMENT

Know your HOME

LOANS

Monthly Feature

An informed customer is an empowered customer. If you’re considering to go in for a home loan, a proper understanding of key terminologies and a little knowledge will enable you to seek out the best option available.

Customers are subject to pay one time xed processing charges while getting the loan sanctioned which is calculated against the sanctioned loan amount and not on the loan application amount. This fee is charged to cover cost of loan processing incurred towards the credit appraisal, legal, technical, site visit, etc. Most of the nancial institutions charge this fee on Approved Proposals only.

PROCESSING FEES

Rate of interest gets directly affected by monetary policy and is guided by RBI/ Regulatory bodies based on economic conditions and international market behaviour which keeps on changing from time to time. Variable or oating rates are periodically adjusted based on the reference rate (commonly known as Prime Lending Rate/Base Rate).

VARIABLE RATE OF INTEREST

Factors affecting ROI of a loan: • Money supply and inflation pressure in economy • Provisioning norms by regulaiory bodies • Cost of operations • Transaction risk • Operating margin etc. Rate of interest movement in last one year in Home Loan market (aggregate) At different ROI

9.5%

9.75%

Per lac EMI (9%)

1,044

1,059 1,075

Tenure in months (22%)

TIPS & TRICKS

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162

166

10% 10.25% 10.50% 10.75% 11%

171

1,090

1,105

177

183

1,121 1,137 189

197

From the above it can be observed that increase in rate of interest impacts more (negatively) on loan tenure as compared to EMI. Figures clearly reect that there is 9% increase in EMI or 22% increase in tenue against 1.5% increase in ROI keeping others constant. So its always advisable to go for increase in EMI than tenure. In the current periods, where in RBI is increasing Base Rate and banks are forced to increase rate of interest it is advised that if you can afford an increase in EMI its better not to go for increase in tenure.

PROPERTY & WEALTH-NOVEMBER 2011, VOL 2, ISSUE 3


CEMENT

HIGHLIGHT: 3

2

1

NRIs are legally permitted to acquire any kind of immovable property in India

NRIs look at India to get better appreciation on their investment

Locations and amenities both play a vital role in context of the NRI buyer

Property Investment for NRIs

RIs are allowed to participate in real estate investments by way of investments in variety of infrastructure projects. It can be the construction of residential and commercial properties, development of townships at city

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and regional level, constructing infrastructure facilities like roads and bridges in urban areas and investment in participatory ventures. The status of an NRI as a property owner is not much different from the Resident Indian;


just like any other property owner, NRIs pay property tax

continues to outperform all other world regions as prices

to the concerned authorities, though NRI property tax is slightly different from what Indian residents pay. So NRIs and also PIOs are legally permitted to acquire any kind of immovable property in India, with the exception of agricultural land, a plantation or a farm house.

here rose on average by 8.0% in the last 12 months. The Indian residential real market is growing, fed by huge domestic demand. The strength of the Indian real estate market makes it a safer bet of the lot and India represents an economic scenario that has evolved separately and on very different parameters from the economies in most developed countries. As an emerging economy, with an emerging and maturing real estate market, it continues to be of interest to NRIs and foreign investors affected by the recession in the West. Domestic consumption and stable economic growth has made the country

The factors that drive the sentiment amongst the NonResident Indians to invest in a property back home are many. The idea to have a base in the home country where one can return to is a prime reason that motivates the NRI buyer and there are a growing number of NRI investors who look at India to get better appreciation

withstand major nancial meltdowns in the recent past. Factors like robust economy, easy access to capital, higher disposable incomes, most importantly; aspirations towards a better quality of life are the key drivers for the demand of luxury real estate among overseas buyers. The investment in real estate by NRIs can be looked at in two contexts —one as pure investment and second as end use driven. Locations and amenities both play a vital role, especially in context of the NRI buyer, who comes with a global exposure. Amenities such as club houses, amphitheaters and other sports amenities like swimming pool, skating Rink, children’s Play Area, gymnasiums, squash sourt, tennis court etc. complement the packages on offer these days. Apart from the sentimental attachment to the home country, the prospect of attractive rental income is also a major driver for NRI demand. Besides, appreciation of properties in India is constantly going upwards and being a growing economy, this process is expected to continue in the coming decades. Property rates in most of the developed countries are going down and looking at the trend of the GDP and overall growth of economy in those countries, there is no sign of appreciable improvement expected in near future. To top it all, NRIs have cheaper access to funds since they get home loans at very low interest rates i.e around 4-5% which is available easily.

on their investment. According to Knight Frank’s recent Global Price House Index, though markets worldwide have been struggling with growth, Asia VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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BOOKS

We’re all living in a marketing driven, credit oriented society, and it is important for us to exercise nancial prudence to stay out of trouble. There are many good books available on Financial Planning and we’ll be introducing our readers to one such book every month.

Monthly Feature

How to Stop Worrying and Start Living Dale Carnegie ale Breckenridge Carnegie (November 24, 1888 – November 1, 1955) was an American writer, lecturer, and the developer of famous courses in self-improvement, salesmanship, corporate training, public speaking and interpersonal skills. He was the author of “How to Win Friends and Inuence People” (1936), a massive bestseller that remains popular today. In “How to Stop Worrying & Start Living” which was rst printed in Great Britain in 1948, Dale Carnegie complies time tested wisdom on how to avoid worrying about problems you can’t affect. He outlines some basic principles to help you stop worrying while drawing from common sense, from people who have achieved peace and happiness and from the sayings of philosophers, business leaders and others.

D

Lack of nancial wisdom has more to do with a misplaced attitude towards money than anything else. The following excerpt from “How to Stop…” says it all: I know what it means to live for twenty years in houses without a bathroom or running water. I know what it means to sleep in bedrooms where the temperature is fteen degrees below zero. I know what it means to walk miles to save a nickel car-fare and have holes in the bottom of my shoes and patches on the seat of my pants. I know what it means to order the cheapest dish on a restaurant menu, and to sleep with my trousers under the mattress because I couldn’t afford to have them pressed by a tailor. Yet, even during those times, I usually managed to save a

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few dimes and quarters out of my income because I was afraid not to. As a result of this experience, I realised that if you and I long to avoid debt and nancial worries, then we have to do what a business rm does: we have to have a plan for spending our money and spend according to that plan. But most of us don’t do that. For example, my good friend, Leon Shimkin, general manager of the rm that publishes this book, pointed out to me a curious blindness that many people have in regard to their money. He told me about a book-keeper he knows, a man who is a wizard at gures when working for his rm-yet when it comes to handling his personal nances! ... Well, if this man gets paid on Friday noon, let us say, he will walk down the street, see an overcoat in a store window that strikes his fancy, and buy it-never giving a thought to the fact that rent, electric lights, and all kinds of “xed” charges have to come out of that pay envelope sooner or later. No-he has the cash in his pocket, and that’s all that counts. Yet this man knows that if the company he works for conducted its business in such a slap-happy manner, it would end up in bankruptcy. Here’s something to consider-where your money is concerned, you’re in business for yourself! And it is literally “your business” what you do with your money.


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Monthly Feature

Realty Coach

Home Loans & Income Tax Savings Home Loan helps you buy a house at easy installments and if you can plan your investment with little care & knowledge, it can help you and your spouse save a lot of money that you pay as income tax. And let me make it clear that these savings are no tax evasion but tax planning. These savings are the major reason making a home loan different from other loan products. Besides making you aware of the tax benets, the current topic will help readers to get answers to following important questions 1. Are income tax benets available on purchase of ats or plots or both? 2. Are income tax benets available to both borrower and co borrower? 3. What are the income tax benets on Home Loans ? 4. Are income tax benets available on 2nd home loans on purchase of 2nd house ? For the purpose of clarity, I am writing on this topic in the sequence, answering each of the important questions listed above.

interest (including interest on land loan as well as the construction loan) till the end of the previous year shall be taken together and one-fth of this cumulated interest plus the interest payable for the specic year will be eligible for deduction. No tax benets are available in respect of the principal paid back during the years in which the construction is not complete. In case you take a loan for purchasing apartment or at, you again become eligible for tax benets only once the construction is complete for the at in question.

2. Are income tax benets available to both borrower and co borrower? In case the home loan is taken by two or more people with independent income sources, then all of them can avail tax benets with respect to the same housing loan to the extent of the amount of loan taken in their own respective name and thereby their contribution towards the repayment of a loan. Any one planning to buy a house should undergo proper tax planning and avail maximum tax benets under the home loans.

1. Are income tax benets available on purchase of ats or plots or both? The most common answer that you will often get to this query is that there are no tax benets available on a loan to buy a plot of land. However if you take a composite loan (for purchasing land) and for doing construction there on or you rst take a loan to purchase land and then may be a year later take a loan to do construction, you are eligible for tax benets subject to the condition that you complete the construction within 3 years of taking loan on the purchase of land. Also the rst tax benets are available only in the year of completion of construction. In that year, the accumulated 42

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3. What are the income tax benets on Home Loans? Your home loan EMI consists of two parts - interest and principal repayment. The bank gives a detailed worksheet of the loan calculation and of the bifurcation of the EMIs paid by the borrowers. These monthly repayments are qualied for deductions from income tax. Income tax benets are available under SECTION 24 and Section 80C of the Income tax Act. Interest paid on housing loan The Income Tax Act offers incentives to attract people to invest in housing property. Section 24 of the Income Tax Act makes one eligible for deduction on interest paid on a housing loan.


Investment in Property can be a tricky affair. There are various things which need to be looked into at the time of buying or selling a house. Matters related to taxation laws, procedure of registration or transfer of property. As the name suggests, Realty Coach is going to take up one or more key terms or issues every month to be explained to make matters simpler for you.

As per the Income Tax Act, the maximum amount eligible for deduction is Rs 1.5 lakhs provided the loan is taken on or after April 1st, 1999.

benet for the principal amount paid in your EMI.

Interest paid is allowed as expenditure even if the property is self occupied and there is no gross annual value. Interest paid during the pre-construction period of the house is not eligible for deduction in that year. However the amount is deductible in ve equal installments commencing from the year in which the house is acquired or constructed. The rst installment is deductible in the year in which the construction of the property is completed and the balance four installments are deducted in the four subsequent years.

Tax benets on second house If an individual plans to invest in a second home then this property is not treated like the rst one which is a self occupied property. Here the borrower is only eligible for benets of interest repayment of the home loan where as benets of principal deduction are not given to the borrower. However there is no cap on the interest repaid unlike the Rs 1.5 lakh limit under Section 24 for selfoccupied property but you need to add rental income, called annual value of your second house, to your income.

4. Are income tax benets available on 2nd home loans?

Principal Amount paid on housing loan The principal amount (your EMI minus interest amount) paid on housing loans are entitled for deductions. Under section 80C of the Income Tax Act, deduction up to Rs 1 lakh per year is available in respect of repayment of the principal amount of a loan taken to buy or construct a residential house. Moreover payment made for stamp duty, registration fee and other expenses incurred for transferring the property in the name of the borrower are eligible for deductions. However, all these deductions should not exceed the limit of Rs 1 lakh.

If you have any further query or specic questions, please mail it across to realtycoach@propertyandwealth.in

Disclaimer: While every effort has been made to ensure the accuracy of the information provided in the content, Property & Wealth magazine is not responsible for any loss caused to any person whatsoever who uses the information supplied. Please verify the information or any changes in laws from your lawyer or CA before taking any investment decisions based on above information.

The installments paid are eligible for deduction only if they are made during the ongoing nancial year. They are not allowed on accrual basis unlike the interest deduction on housing loans. Important thing to note is that your insurance premiums, school fees for kids, PF, PPF amount or other similar savings also fall under Section 80C, the maximum limit for which is Rs. 1 lac per nancial year. Hence if you already have substantial savings, you will not be able to take much VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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Monthly Feature

FLIPSIDE

Big Dreams, Big Buildings & Stumbling Blocks

Builders. Entrepreneurs physically building the nation. The houses we live in and the ofces where we go to work. They have a signicant role to play in mitigating one of India’s basic yet biggest challenges – shelter for its teeming millions. And to play this role well, they need to be heard.

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. Having in its fold more than 300 Chambers and Trade Associations, and serving more than 2 lakh members from all over India. It has witnessed upswings as well as upheavals of Indian Economy, and contributed signicantly by playing a catalytic role in shaping up the Trade, Commerce and Industrial environment of the country. Streamline economic growth amid rising population: ASSOCHAM Tuesday, November 01, 2011 India should allocate over six per cent of its budget in health and education sectors each with emphasis on quality and efciency through public private partnership (PPP) model to control rising population and streamline economic growth, apex chamber ASSOCHAM said today, a day after the world’s population reached seven billion. The country with 1.2 billion people is expected to overtake China around 2030 when the Indian population reaches 1.6 billion. The population growth will mean a nation full of working-age youth, which could allow the already booming economy to maintain momentum. Gurgaon drives Haryana’s economic development: ASSOCHAM Monday, October 31, 2011 With a share of Rs 1,826 crore and over 24,200 assesses Gurgaon accounted for about 23 per cent of total tax worth 44

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Rs 8,044 crore realised from 1.7 lakh assesses under the Haryana VAT Act 2003 during 2009-10, apex industry body ASSOCHAM said today highlighting the district’s contribution in state’s economic development. Besides, Gurgaon also accounted for about 7 per cent of total tax realised under the Central Sales Tax Act 1956 with a share of Rs 285 crore of the total Rs 4,063 crore. Of the total 1.67 lakh assesses, about 24,000 were from Gurgaon. Formula 1 GP to help India brand promotion globally: ASSOCHAM Friday, October 28, 2011 Apex chamber ASSOCHAM has said the Formula 1 Grand Prix race in India could generate revenues of over Rs 90,000 crore in the next ten years and create 15 lakh new jobs opportunities for technical, skilled and commercial workers. The intangible benets could be much more as India has thousands of companies with ambition to compete on the global stage. While many of these companies have bluechip brands domestically, they are either lesser known or unknown to a global audience. CII is a non-government, notfor-prot, industry led and industry managed organisation, playing a proactive role in India’s development process. Founded over 116 years ago, it is India’s


We picked the top organisations in the country linked to the builder community in different capacities. Organisations with the vision and the power to channelise their efforts towards the realisation of every Indian’s basic yet sometimes biggest challenge- Shelter.

premier business association, with a direct membership of over 8100 organisations from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 90,000 companies from around 400 national and regional sectoral associations. CII to organise EXCON 2011 South Asia’s Largest Exhibition on Construction Equipment & Technology (23-27 November in Bangalore) Oct 12, 2011 Confederation of Indian Industry (CII) organised a Roadshow on EXCON 2011 - India’s premier event for the Construction Equipment & Technology. EXCON 2011 is scheduled to be held at the Bangalore International Exhibition Centre (BIEC), Bangalore from November 2327, 2011. Spread across 220,000 square metres and with a participation of over 600 exhibitors, including 200 foreign companies, EXCON 2011is the largest exhibition on construction equipment in South Asia. This event is supported by Government of Karnataka as the Partner State and the Indian Earthmoving & Construction Industry Association is the Sector Partner & Builders Association of India. CII urges states to replicate land reforms initiated by Punjab and Rajasthan Sep 27, 2011 CII has been a strong advocate for legalizing the leasing of agricultural land on long tenure basis through legislation. On the lines of CII’s proposal the states of Punjab and Rajasthan have announced policy for land reforms. Complimenting the two States Mr Rakesh Bharti Mittal, Chairman, CII National Council on Agriculture & Vice Chairman & MD Bharti Enterprises Ltd. said that the two states have prolonged the lease period as well as ensured the owners right on his land which is a welcome step .

CII Welcomes Land Acquisition Bill – Concerned About Compensation Costs Sep 05, 2011 CII welcomes the fact that R&R is being dealt with Land Acquisition comprehensively in the same piece of legislation, and the fact that implicitly the government has clearly spelt out that beyond a reasonable threshold, land acquisition for public purpose would be done by the government. However, CII is concerned about the cost of R&R that would be loaded on industry and the solatium ratios that are spelt out. While CII is absolutely in favour of appropriate and adequate compensation for people who are affected by land acquisition, we believe that the costs have to be reasonable for industry to remain viable. The Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body for private real estate developers in India. CREDAI represents over 5,000 developers through 20 member associations across the country. It’s numerous initiatives and activities help developers come together and work towards better practices, improved customer service and a stronger realty industry. Allahabad HC verdict relieves builders and aam janta: CREDAI NCR Noida, 21st.oct’2011: Honoring the Allahabad HC Verdict on Noida Extn to scrap off land acquisition in the three villages of Asadullahpur, Sahaberi and Deola, CREDAI NCR said that the balanced verdict mirrors the interests of distinguished groups in the society including developers, farmers and the home buyers. The Allahabad High Court ruling brings a positive ray of hope for the builders by allowing them the construction

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following the approval from the National Capital Region

Estate Developers’ Association of India (CREDAI) has

Planning Board.

reached out to Competition Commission of India (CCI) to intervene against exorbitant price hike by leading cement manufacturers. The members of CREDAI Executive Board Mr. Getamber Anand, Mr. Sanjeev Srivastava, Mr. R.K. Arora met Mr. H.C Gupta, Chairman, CCI and Mr. R Prasad, Member, Competition Commission of India (CCI) to probe charges of creating articial shortage of cement by cement manufacturers in the market. CCI has also informed CREDAI of having evidence of the same.

Disposing off all other petitions, the court also ruled out that no more construction can happen in the area until and unless a prior approval is sought from the National Capital Region Planning Board. CREDAI National’s views on the proposed land acquisition bill New Delhi, September 07, 2011: CREDAI (Confederation of Real Estate Developers Associations of India), the Apex body of developers in India with more than 6000 members, today shared its view on the latest proposed land acquisition bill.

75% in the price of cement despite of the constant price of its inputs.

CREDAI strongly feels that this is an unviable land policy, which would lead to unplanned growth and creation of slums and urban grid-locks in our rapidly congested urban areas so far as land for Realty sector and Urban Development is concerned.

It was pointed out by CREDAI delegation that the real estate industry has been witnessing constant price hikes in cement stocks while the input cost for the cement industry is stable. The cost of coal and limestone has not increased in last one year. The gap between demand and supply has been articially created by the cement manufacturers. However, the cement manufacturers have been maintaining that the production has been less than what the demand is and also that the facilities are closed for maintenance. The cement manufacturers were operating on a production capacity of 94% ve years ago, last year it was reduced to 73% and currently it is below 70%, thereby resulting in shortage of cement in the market.

According to Mr. Pradeep Jain, Chairman, CREDAI, “Incorporating R&R for all private projects above 50 acres will severely restrict the supply of land for organized housing. Urbanization is an uncontrollable force. If we do not facilitate it in an organized manner, all the incremental population will be housed in slums with dire consequences for our economy. Housing prices will become further unaffordable. In the long run, even farmers whom this bill seeks to protect, will suffer hugely as development of fringes of urban centre will largely be in the form of unauthorized developments and they will not realize the true economic potential of their lands. Government should do away with the numerous onerous and articial impediments placed in the way free commercial transactions. This will be harmful for the economy, the urban middle and lower middle class, and ultimately the farmer.” CREDAI reached out to CCI to intervene in the matter of creation of articial shortage of cement by cement manufacturers New Delhi, 5th October, 2011: The Confederation of Real 46

The real estate industry has witnessed an increase of Rs 100 plus per bag in last one month which is an increase of

PROPERTY & WEALTH-NOVEMBER 2011, VOL 1, ISSUE 3

The National Association of Realtors - India (NAR-INDIA) has been registered in June, 2007, as a non-prot society under the Societies Registration Act of India. NAR-INDIA is headquartered at New Delhi. The objectives of NAR_ INDIA are to streamline and promote the profession of real estate brokerage in India so that we achieve transparency, accountability, fair dealing and ethical practices for overall good governance in the industry.


NAR-INDIA signs MoU with NHB National Association of Realtors - India ( NAR-INDIA ) has signed a Memorandum of Understanding with the National Housing Bank ( NHB ) for developing a more broad based mechanism for the purpose of collecting information on housing prices for ve cities namely Bangalore, Chennai, Hyderabad, Kolkata and Pune to start with for NHB RESIDEX, a subsidiary of the Reserve Bank of India on Jan 18th 2010 at New Delhi. NAR-INDIA is the apex all India association of real estate brokers and the NHB is the premier national level housing nance regulator of the Government of India. This MoU aims at a public-private partnership wherein the real estate broker members all over the country who are members of NAR-INDIA would provide market inputs for the NHB developed RESIDEX, the ofcial property price index of the country. The signing of this MoU is a step towards generating authentic real estate information across cities in the country so that it helps in fair price determination and improved transparency in the business. On behalf of NHB, Raj Pal, principal advisor and on behalf of NARIndia Ravi Verma, president, signed the MoU

importance to the Housing and Real Estate sector, thereby declaring housing for all citizens by the year 2010. Navin Raheja, MD, Raheja Developers new Head of NAREDCO Navin Raheja, CMD, Raheja Developers Ltd has been elected as the President of NAREDCO. NAREDCO, a regulatory body established in 1998 under the aegis of Union Ministry of Housing and Urban Poverty Alleviation. The other new members elected include Sunil Dahiya, MD, Vigneshwara Developers Pvt. Ltd.– SENIOR VICE PRESIDENT Mr. Sunil Mantri, Chairman, Sunil Mantri Realty Ltd. – VICE PRESIDENT Mr. Rajesh Arora, MD, Arora & Associates Infradevelopers Pvt. Ltd. – MEMBER FINANCE. Speaking on the occasion Mr.Raheja said that with the support of the Government and other members of the council, he would certainly try his best to bring transparency in the sector and visions to provide roof to every common man in India.

Women Realtors in India. How can women contribute to Indian Real estate? This question was answered by Ms. Gretchen Faber at the recently concluded NAR India 3rd Annual Convention. She said that only way is by women lending a helping hand to other women. She was happy to say that around 57% realtors in the NAR group are women. The association offers a chance to arrange leadership trainings, share best practices across table and so on. The rate of involvement of women in Real estate is increasingly positive and growing and there is no ceiling for women’s growth and income. National Real Estate Development Council (NAREDCO) was established as an autonomous self-regulatory body in 1998 under the aegis of Ministry of Housing and Urban Poverty Alleviation, Government of India. It is in this year that the Government of India redrafted the National Housing & Habitat Policy, giving due VOL 1, ISSUE 3, PROPERTY & WEALTH-NOVEMBER 2011

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soft corner Corporate Social Responsibility (CSR) is represented by the contributions undertaken by

Monthly Feature

companies to society all over the world. Not to be left behind, major corporates in India have included CSR programmes to their to-do lists. Property & Wealth dedicates this page to all such initiatives.

DLF to invest Rs 200 crore for 250 Skill Training Centres

DLF Foundation, the corporate social responsibility arm of the country’s largest realty rm DLF, will invest Rs 200 crore to establish 250 centres for skill training of one million unemployed youth. These centres would come up under agship programme DLF LIFE (Learning Initiatives For Employment). The rst centre was inaugurated at Okhla, in the national capital, yesterday. The objectives of these centres would be to train youth with employable skills and make them industry-friendly. These centres will provide training in elds like construction, IT, retail, marketing, customer relations, hospitality and electronics, among others, with assured employment linkages.

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(Don’t forget to tick your choice on reverse)


Forthcoming Real Estate Events

PHD Chamber is organizing Punjab International Trade Expo 2011 (PITEX 2011) from 1st to 5th December 2011 for the fourth consecutive year at Amritsar. PHD Chamber is organizing this 5-day mega Trade Exhibition in collaboration with the Punjab Govt. as the host state. The fair shall be organized at Ranjit Avenue, Ajnala Road, Amritsar.

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Property & Wealth Magazine Nov 2011 Issue