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08
11BRICKS
Investment in property isn’t just meant for grown-ups. If you’re in your first job after college and looking to get married soon, consider buying your own first house beforehand.
Chandigarh Capital Region Delhi NCR
Punjab / Haryana Himachal
REAL ESTATE PROJECTS
Publisher & Editor-in-ChiefJasmeet [email protected]
Editor Pankaj Sharma [email protected]
Feature Writers Priya Ghai, K.Singh, Rupinder, PD, Sheetal Singh
Art Director Rajesh Kumar
Graphics TeamBhupinder, Gagan, Sanju
Advertisement & SalesSandeep Kapoor, (M) 9818510511, [email protected]
Sales & SubscriptionMr. Ajay Gupta(M) 9216841278
Photography Rohit Bhatia
Pre Press Team: NBC, GopalProduction Team: Upinder, Vikas, Vijay
Advisory BoardHarpreet 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
CONTRIBUTORS AND
ASSOCIATES
contentsFebruary 2012 COVER STORY
Design & Print Production
19SAND REAL ESTATE & INFRASTRUCTURE NEWS
20
21
regional Permission required for construction
DLF Garden City Gurgaon
Gurgaon SEZ land demanded back by Haryana
Monorail expected by 2017 in Delhi
Parsvnath Developers Q3 net profit down 28%
nationalLIC Housing Finance floats urban development PE fund
Black money in Real Estate sector under scrutiny
Home loans may get cheaper
Fitch assigns negative outlook on Indian real estate sector
Govt. approves Rs 5,388 cr road projects in 3 States
Mumbai flat draws record price
BUY A HOUSEBEFORE YOU MARRY
An increasing number of young people are turning
to investment in property as a long term anchor to
their savings. “Buy a home – before you marry” is
about young salaried people going in for purchase
of property before they get married.
Limited Liability Partnership might’ve been recently
introduced in our country but it’s an established
concept in other countries of the world, especially
in the service sector. The concept of LLP combines
the organizational flexibility of a partnership firm
coupled with the advantage of limited liability
for its partners. A preferred vehicle for real
estate investment from a taxation standpoint, the
process of forming LLPs is very easy as compared
to Companies.
Declared a UNESCO World Heritage Site on 28
June 2007, The Sydney Opera House is one of the
20th century’s most distinctive buildings and one
of the most famous performing arts centres in the
world. With more than seven million people visiting
the site each year, it is one of the most popular
visitor attractions in Australia. It was designed by
Danish architect Jorn Utzon who’d won the design
competition launched to identify the best design
for the opera among 233 entries representing
architects from 32 countries. Ironically however,
he wasn’t invited to the opening ceremony of
the building in 1973 by Elizabeth II, Queen of
Australia.
about this issue
Pankaj SharmaEditor
4038
3236
realty coachGo property shopping with friends
flipsideCREDAI adopts 23rd Jan as ‘Mission Transparency Day’
in your good booksThe Total Money Makeover by Dave Ramsey
soft cornerAkshaya Patra Programme
25CEMENT
PROFESSIONAL KNOWLEDGE & MOTIVATION
22
23
international
Boom Time in Dubai Property Sales
Nike to develop new China HQs Campus in Shanghai
“New Cities Summit” in Paris this year
An equestrian village in France
NRIs send $4.6 billion dollars home
Vancouver beats Sydney in unaffordability index
eye-catchers
real estate championYatzhak Tshuva
architectural marvels Sydney Opera House
Becks, Posh redesigning their homes using feng shui
Juhu flat for newly-wed Bollywood couple
26
28
editorial
People generally take a home loan after they get married as they
feel that home is needed only when they have a family. I don’t
understand why they plan so late. An educated youngster gets
a job at around 21 to 23 years of age and provided he/she is
getting a salary of more than 20k a month, home loan can be
taken at a young age. Before you marry, as a young individual
your debts & expenses are at minimum and your capacity to
work is at maximum. And by the time one gets married, about
60% of home loan would already have been paid.
Starting this issue, Property & Wealth magazine is adopting the
mission, ‘to encourage all youngsters to buy a home before they
marry’. This month’s cover story is first step towards the mission
and in subsequent issues you will find it a monthly feature with
guiding steps on how to actually make this possible i.e. ‘buying
a home before you marry’. We as publication intend to carry this
objective so passionately that we would be blunt to the extents
that take a car loan only after you have sufficient money to pay
for home loans. Your children can go without a car ride but they
deserve a roof on their heads.
We believe, owning a house and having paid at least 60% of
the home loan before you marry, would ensure a comfortable
financial future to you and your family. Typically a bank assumes
that about 55-60 % of your monthly disposable / surplus income
is available for repayment of home loan. If you are not married
this may be even taken 75%, at least for your own calculation of
paying capacity. If your home loan is paid by the age 35 years,
this ensures a decent financial future as future surplus income
after having repaid the home loan can be fruitfully used for
higher education of children and for affording luxuries of life.
Buy a home before you marry
Jasmeet Dhamija Editor-in-Chief
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.
goes interactive www.facebook.com/propertyandwealth
Maninder Singh is a 29-year old electronics engineer
from Chandigarh. He is today the proud owner of a two-
bedroom apartment in Zirakpur, for which he has already
paid 83 EMI’s out of 120. Heeding to self advice an year
into his job with an MNC in the Tricity, Maninder followed
his mission to buy a house before he gets married. He
went in for a home loan at young age of 23, with no other
debts to bother him. The EMI plan was executed without
a hitch as he choose to buy a car only after he has owned
a flat of his own. He is all smiles today as his property has
appreciated in value, reaching a price tag which he might
find difficult to afford today.
The biggest advantage for young investors in property
is that they have time on their side. A home loan is
undoubtedly a huge financial commitment. But still, a
well-handled home loan early in one’s career can fetch
lasting returns in the long run which makes it a challenge
worth taking up. As time goes by, Maninder may choose
to reside in that house with his family or consider what
returns the asset could give to him as an investor. In the
latter case, he could either rent out the property and earn
a stable income or fix it up a bit and sell for a profit. It
seems to be a win-win situation for him, either way.
Marriage is on the cards for the young man in the coming
year. As he is also expecting his first promotion around
the same time, Maninder seems to have to have laid the
foundations for a comfortable life ahead. Marriage does bring
with it a load of responsibilities and owning a home before
one gets married
is a particularly
good decision.
Investment in
property isn’t just
meant for property
dealers per se. Nor
is it an investment
medium meant for
the rich. Property
can be owned
by anyone who
earnestly wants
to do so and is
able to garner his/
her resources
effectively and in
time. Our friend
here is most likely
to reap the benefits
of his foresight and somewhere in his mind, the two-
bedroom apartment he has been able to set aside as an
asset while he is young, will always be a source of strength
and satisfaction in his later years.
Let’s assume you’re one of our young readers who would
like to be in Maninder’s shoes. Or you might be a parent,
friend or well-wisher who would like to pass on similar
advice to a dear one. Purchasing property for the first
time can be quite an experience in itself and the following
Cover Story
... to live happily ever after!
BUY A HOUSEBEFORE YOU MARRY
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 608
general guidelines can be of immense value to the
purchaser:-
Yes! I’m buying a house
The most important thing to remember while going in for a
first-time purchase is that buying a home isn’t necessarily
a one-time exercise. Don’t wait for the ‘perfect’ place
at the ‘perfect cost’ to show up. Postponing that first
purchase indefinitely may prove counter-productive.
There’re many people out there who kept putting off
‘project home’ indefinitely, on some pretext or the other,
only to find themselves without a roof over their heads in
their 50s.
Money matters
Plan to buy a house you can afford and borrow only as
much as you can repay comfortably. In most cases, the
initial down payment is the biggest challenge. While it’ll
be ideal to meet this challenge with your own savings, it is
usually ancestral property or the ‘best wishes’ of friends/
09
It pays not to ignore suggestions on location,legal processes and finances before going in for a huge financial commitment like buying a house
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
relatives which eventually come in handy while raising
funds.
Don’t hesitate to consult your elders before taking the
final plunge. It pays not to ignore suggestions on location,
legal processes and finances before going in for a huge
financial commitment like buying a house. You also
needn’t indulge in extravagant furnishing like wood work,
drapes and décor. There is no limit to what one can spend
on amenities these days.
Location issues
Perhaps the most crucial element when deciding on a
home purchase is the choice of location. Do you intend
to settle down in the same city or does your work profile
require you to relocate to another State? In case you’re
required to travel a lot, it would be advisable to select
a location where your parents or relatives stay. In your
absence, they can monitor the construction work and
take care of legal formalities.
Selection of a good location also implies finding a safe
neighbourhood. Availability of schools, colleges and
healthcare facilities in the vicinity are advantageous. For
people who’re willing to travel some distance to work, they
may look for a cheaper option in comparison to prime
locations.
Research does count
Try and ascertain the right asking price for properties in the
area which interests you. It is a time-consuming activity
but you really need to meet as many property dealers
to be able to make a fair assessment. Also, there’re
many good property related websites one can look up
nowadays. Websites like magicbricks.com, 99acres.com
or makaansearch.com may prove immensely beneficial,
what with their ever-increasing operational range as well
as improving services.
Lender
A home loan is a long term commitment spanning 15 years
or more. Explore the market to choose a good housing
finance company keeping in mind factors like quality of
services offered, loan procedures and safe retrieval of title
deed.
Credit History
An impeccable track record of prompt repayment is one
of the first requirements your finance company would
be interested in. A history of default on credit card or
vehicle loans will reflect poorly on credit score. Young
home loan applicants generally have the advantage of
lower debts since they have no major financial obligations
and commitments.
Conclusion
Owning a house for your residential purpose is always a
priority. Rarely does one hear of cost of property coming
down. Increasing cost of property and home loan interest
rates also drives house rents up. “The sooner, the better,”
one would say and frankly speaking, any time is a good
time to buy a house for self-occupancy. If you get a house
that fits your budget and requirements, just go for it.
10
Cover Story
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
EMI affordability chart (before marriage - with 75% assumed disposable income
Monthly Salary Disposable Income 75% Flat Cost Loan Amount Loan Tenure EMI
21300
37500
47500
59500
15975
28125
35625
44625
2250000
3200000
4200000
5200000
1600000
2560000
3360000
4150000
240
180
180
180
15975
28299
37142
45875
` ` ` `` in months
BRICKS = REAL ESTATE PROJECTSThe 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.
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 parkingOptions: 3BHK, 4BHK, Penhouse.Villas, Plots
ATS Golf Meadows
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 66, MohaliHighlights: Mixed Use Residential, Office, mall & 5 star Hotel SiteOptions: 2BHK, 3BHK Residential Apartments,Office Space, Mall Space
Bestech Square
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
CHANDIGARH CAPITAL REGION
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
Ansal API Golf Links - II
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
12
Location: Gazipur, near proposed Golf Course, ZirakpurHighlights: Keyless biometric entry, every flat is corner & facingpark, hi-tech securityOptions: 3BHK only
Aero Homes
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sohana-Landran Road, Sector 90, MohaliHighlights: IT/ITES office spaces, roof top garden, 100% power backup, 24X7 hi tech secutiry. Invest 23 lakhs & get 23000- per month.
Accord Corporate Square
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: DLF New Chandigarh, Mullanpur, PunjabHighlights: Punjab’s First Eco Town, Foothill of Shiwaliks, Club House, 11 acres of greens100, 120 feet wide approach roads.Options: 350 and 500 sq yards plots
DLF Hyde Park Estate
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Location: Sector 112 Mohali Banur Highway, adjoining Chandigarh group of collegesHighlights: 50% green area. Shopping mall, site for 5 star hotelOptions: Booths, SCOs, residential plots 200, 250, 400 & 500 sq yards
RKM City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Pinjore Kalka Urban Complex, Sector 3Highlights: Panoramic View of the hills, site is situated on a plateau. only about 9 kms from Housing Board Colony Panchkula.Options: Independent Floorscurrently available only on resale
DLF Valley Panchkula
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Pinjore Kalka Urban Complex, next to DLF Valley & Amravati EnclaveHighlights: Surrounded by river & dam site on one end, mountains on the other end. 200 acre township with huge club houseOptions: Plots & Villas, 250,370,500,1000 sq yds.
IREO Five River
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 90, MohaliHighlights: World Class Building designed by Hafeez ContractorIn close proximity to Phase VIII B, an upcoming IT destination with several MNCsOptions: 3BHK and 4BHK
Multitech Tower 2
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 98 and 99 MohaliHighlights: 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.
IREO Rise & Hamlet
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
CHANDIGARH CAPITAL REGION
13
Location: VIP Road, ZirakpurHighlights: Sky banglows with drawing cum Dining Room,Family Lounge, Home Theatre room, Mandir, Store and Servant QuarterOptions: 88 flats of 4000 sq ft each and 8 penthouses of 7000 sq ft each
Ojas Grand, Zirakpur
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
Location: VIP Road, ZirakpurHighlights: AmphitheatreCommon Library, Club, Gym, Jogging Track. Ultra Modern UPVC Windows to keep your house insulated.Options: 2, 3, 4BHK Apartments
Savitry Greens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 3 BHK & 4 BHK Duplex apartments near upcoming Golf CourseOptions: 3BHK & 4 BHK Duplex aprartments.
Sushma Crescent
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 85, MohaliHighlights: Spread over 300 acres, Wave Estate has already completed all basic infrastructure needs. Greens & landscapes are well planned.Options: Plots, Villas, charming floors and plush condominiums
Wave Estate
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Chandigarh-Ambala HighwayHighlights: Designed by R204DESIGN, leading US architecture firm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming poolOptions: 3BHK flats 1885 sq ft.
Sushma Chandigarh Grande
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 97, 106, 107 MohaliHighlights: 300 acres integrated townshopOptions: Plots 360 to 500 sy yards Gardens Apartments 2BHK, 3BHK, Independent Floors
Unitech Uniworld City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
CHANDIGARH CAPITAL REGION
14
Location: Sector 115, Greater Mohali Highlights: Experience ‘Urban Living at its Best’ with planned infrastructure and world class amenities- all catering to the contemporary lifestyle. Options: Studio Apartments, 2bhk, 3bhk, 3bhk Penhouse
WWICS Imperial Heights
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Location: Sector 86, just 700 mtrs from Delhi Gurgaon ExpresswayHighlights: Possession to be offered in 3 yrs from bookingSecured gated community Adjoining the DLF project IFFCO Chowk - 15 minutes driveOptions: 2BHK, 3BHK, 1350 - 1890 Sqft
Ansal Heights 2
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location:NH-8, Sector 83, GurgaonHighlights: Modern gated 22 acres development , 8 Acres Central Landscaped Greens and Park, Near to ISBTOptions: 1,720 Sq.Ft. to 3,750 Sq.Ft. , 3BHK, 5 BHK Ground Floor, Duplex and Penthouse
Emaar MGF Palm Gardens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 110, GurgaonHighlights: Full feature clubhouse, Themed Landscapes, high-Response Security systems, World-Class fitness and Sports facilities, Green Architecture, Options: 3400, 3900 sq feet, 4BHK, 5BHK
India Bulls Enigma
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
DELHI NCR
15
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Jaypee Sports City, Greater NoidaHighlights: Tropical architecture, Yoga, aerobics, spa and massage rooms, India’s 1st Formula One Racing Track Options: 1, 2, 3, 4 BHK personal suites
Jaypee Greens Kassia
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Noida-Greater Noida ExpresswayHighlights: Foodball field, cricket field, cycling track, tennis& basket ball courts, Unique Y shaped apartments.Options: 2, 3, 4 BHK Apartments
Jaypee Greens, Garden Isles Towers
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 67, GurgaonHighlights: Singapore theme Luxury Residence Compact & Well ventilated Units Modern and Youthful productOptions: Area 1800 Sq.Ft. to 5500 Sq.FT.3BHK, 4BHK, Penthouse.
M3M Merlin
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
DELHI NCR
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
16
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Sector 137 NoidaHighlights: On Noida – G.Noida Expressway, South Delhi is 15 min. away thru DND flyoverSector - 18 Noida, Market is 10 minutes away, Amity University, Lotus Public School are in close vicinity.Options: 2BHK, 3BHK
Paras Tierea
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 93, GurgaonHighlights:80% GreeneryMeditation court, nature park3 side open apartmentAmphitheater & GymnasiumOptions: 2 / 3 & 4 BHK Residential Apartments 1297 to 2532 sq.ft.
Spaze Privvy
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector – 37 D, Ramprastha City, GurgaonHighlights: 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
Ramaprastha City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 82, GurgaonHighlights: Strategically located, In close proximity to proposed metro stationOptions: 2/3/3+1/4 BHK
Universal Aura
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Raj Nagar Extension, GhaziabadHighlights: Executive Luxury Flats, Private garden space and open terrace, Earthquake resistantOptions: 1/2/3 BHK 615 – 1350 sq.ft
SCC Heights
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: NH-8, DharuheraHighlights:Latest architectural standards & Vastu norms, just a few minutes away from shopping malls, hospitals, schools and other public utilities.Options: 1,2 & 3 BHK
Vipul Gardens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
PUNJAB / HARYANA
17
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Nakodar Road, JalandharHighlights: Jalandhar’s First integrated township, a new world of integrated living in an exquisite residential township spanning over 80 acres.Options: Villas, floors and
residential plots 200 to 350 sq. yds
Eldeco Greens
BudgetPlanner
BudgetPlanner
eward yourself with an improved lifestyle.R
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Nakodar Chowk, JalandharHighlights: Total Built-Up Area is 14864 sq mts approx with 3 floors of retail and 3 floors of offices.Options: Retail outlets, commercial office space, food court, cafe’s.
DLF Galleria
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Turning off the NH 95 near the Ludhiana-Ferozepur Road, a short drive along Sidhwan CanalHighlights: 500 acres with glittering lake at its centre, beautiful layouts, green environsOptions: 3-5 BR villas and apartments from 3000-8000 sq ft
Ireo Water Front
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: GT Road NH 1 Opposite Mac DonaldHighlights: 5 impressive residential towers going up to 12 floors with excellent space management, ergonomic interiors and delightful amenitiesOptions: luxurious 3 BHK,4 BHK duplex, 4 BHK with utility
DLF Park Place Jalandhar
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sectors 28 & 29 HUDA on National Highway1, KarnalHighlights: Spread across more than 300 acres, Karnal’s first truly world-class developmentOptions: Residential & Commercial
Alpha International City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Unitech Unihomes Sector 16 AmbalaHighlights: UNIHOMES is well connected to rest of the city and Haryana with Narnaul and Jhajjar highways running closeOptions: 2 BHK & 3 BHK lowrise affordable flats.
Uni Homes Ambala
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
HIMACHAL
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 yearOptions: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.
Amravati Hills
BudgetPlanner
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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
DLF Samavana
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dagshai HillsHighlights: Situated at height of 5500 sq feet. its un spoilt nature at its best with Villas, plots, 5 star resorts.Options: Luxurious independent villas, residential plots
Pine Wood Resorts
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dharampur Sapatu Road 2 kms from Hotel Victoria IntercontinentalHighlights: 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
Hill Farms
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BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Simla Hills, Bemloi, Near CPRI complexHighlights: Luxury Cottages Priced between 2.5 to 3.9 crores.Simla’s first residential gated complexOptions: Super area varies from 2700- 3100 sq feet. Luxury Cottages.
DLF Samatara
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in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Solan Simla Old Road, Kumar hattiHighlights: Beautiful fully furnished apartment With un spoilt view of the mountains.An ideal hill farm house.Options: 2BHK and 3 BHK
Pine Wood Cottages
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific
& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
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18 PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
SAND = REAL ESTATE & INFRASTRUCTURE NEWSAfter bricks, the next building material which comes to mind is sand, which we’ve
equated with current news related to Real Estate and Infrastructure.
20
Evader, Inc. subsidiary ASCC has announced that it has
launched Phase 1, a 480-unit integrated group housing
project, in New Chandigarh valued at around 165 crores..
ASCC is India’s leading real estate company and even
though there are several plotted developments in the region
by majors like DLF and Omaxe, this is the first integrated
group housing project developed in New Chandigarh
(Mullanpur) by a national real estate player. It’s situated
on 11 acres of lush greenery and 75% of the total property
area has been reserved as open space for the comfort
of residents. The project offers eight-floor buildings with
a total of 480 units located on the periphery of the city.
These ultra-modern apartments range in price from Rs.
19 to 35 lakhs and are available with two bedrooms, three
bedrooms and three bedrooms with attached servant room.
The project comes with 100% power back-up, health club
and swimming pool. There’s around the clock security and
water supply and a provision for gas being piped in.
In a recent development, the Delhi government has given
an in-principle approval to a 10.8 km elevated monorail
link between Shastri Park Metro Station and Trilokpuri via
Laxmi Nagar in East Delhi. The link is expected to be
functional by 2017. In the coming years, the monorail
is expected to roll in other major cities like Mumbai,
Chennai, Bangalore and Jalandhar. The transport system
has proved to be highly successful in crowded areas of
Japan, Malaysia and the United States of America.
The Haryana government is in talks with Mukesh
Ambani-led Reliance Industries (RIL) to take back 1,383
acres in Gurgaon as the company has failed to develop
the SEZ over the same. The company had entered into
an agreement with the State government in 2006 to set
up SEZ in Jhajjar and Gurgaon by setting up Special
Purpose Vehicle Reliance Haryana SEZ. Reliance
Haryana SEZ is a joint venture between Reliance
Ventures, a RIL subsidiary, and Haryana State Industrial
and Infrastructure Development Corporation (HSIIDC).
With Gurgaon-Manesar Master Plan 2025 fuelling a
boom in realty, real estate major DLF has announced
plans to develop a new zone spread over 450 acres by
the name of DLF Garden City located in Sectors 86, 87,
90, 91 and 92. This zone will comprise of group housing,
commercial and plotted development and the land is
nestled in the lap of 1000 acres open spaces.
The plotted development will offer plots of different sizes
ranging from 250 to 502 square yards.In keeping with
DLF’s signature statement, DLF Garden City will offer
all luxurious facilities such as 24X7 power backup,
community shopping, landscaped greenery, 24X7
security, gated communities, rain water harvesting, and
recreational facilities. They have joined hands with a
leading school to cater to the educational needs of the
residents.
Parsvnath Developers has reported a drop of 28 per cent
in its consolidated net profit because of higher inflation,
input costs, administrative and manpower cost as well as
higher cost of funds.
“This has collectively put pressure on margins,” said
Pradeep Jain, chairman, Parsvnath Developers. net
profit in the quarter ended December 31, 2011 fell to
Rs 22.54 crore from Rs 31.37 crore a year ago. The net
revenues, however, rose rose 7% to Rs 239.6 crore, from
Rs 224.4 crore.
Evader Inc Group Housing at New Chandigarh (Mullanpur)
Monorail expected by 2017 in Delhi
Gurgaon SEZ land demanded back by Haryana
DLF Garden City Gurgaon
Parsvnath Developers Q3 net profit down 28%
regional news
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Black money in Real Estate sector under scrutiny
Home loans may get cheaper
national news
21
LIC Housing Finance Ltd, or LICHFL, a subsidiary of
the country’s largest insurance company LIC, recently
launched a Rs 500-crore urban development fund. The
company announced its first closure at Rs 200 crore and
the fund is expected to raise the entire amount in 8 to 9
months. Both LIC and LICHFL have committed Rs 50
crore each to the fund. The fund will make investments
in companies involved in the development of mid-income
affordable housing schemes and income yielding micro
infrastructure asset through equity and equity-related
instruments.
The National Institute of Public Finance and Policy (NIPFP)
is conducting a study called ‘Estimation of Unaccounted
Incomes in India’ which means to review recent property
deals to check for the use of black money in the country.
The research was commissioned last June by the Central
Board of Direct Taxes, which falls under the Union finance
ministry. Incidentally, the first study on unaccounted
money was conducted by NIPEP in 1985 wherein the
estimates-which are not considered reliable-varied from
$462 billion to $1.4 trillion.
Rating agency Fitch has assigned a negative outlook to the
real estate sector for 2012 due to weak demand and high
cost of construction. As per Fitch ratings, high equated
monthly installments, resulting from significantly higher
interest rates, besides lower household surplus due to high
inflation and high residential unit prices, have reduced
affordability for properties. The Indian real estate market,
bruised by economic slowdown blues, will continue to be
subdued in 2012 on the back of weak demand and higher
construction costs.
The Govt. has approved three road projects in the states
of Himachal Pradesh, Haryana and Andhra Pradesh
entailing a total investment of Rs 5,388.36 cr. The Cabinet
Committee on Infrastructure cleared widening of Kiratpur-
Ner Chowk section in Himachal Pradesh at a cost of Rs
2,356.20 cr. The widening of 84.38 km stretch on National
Highway (NH) 21 will be implemented under NHDP phase
III. The project, on completion, will reduce the time and
cost of travel for traffic plying between Kiratpur and Ner
Chowk.
A 21st floor flat in Cuffe Parade’s Jolly Maker 1 building in
Mumbai was sold at a whopping price of Rs 29 cr at the
rate of Rs 1.11 lakh per sq ft. The highest rate ever in the
past was Rs 1.02 lakh per sq. ft. for a 19th floor duplex
flat in Worli’s Samudra Mahal which was sold for Rs 37.25
cr in 2010. The four-bedroom apartment, with a closed
garage with two car parks, was sold by the Jagwani family
(which runs a jewellery business) to Ashok Patni, one of
three brothers who own Patni Computers.
Home loans may soon come at more favorable terms for
borrowers, with the concept of mortgage guarantee set to
take off in the coming weeks. Mortgage guarantees will
ensure softening of interest rates as well as more credit
availability for retail home loan borrowers. India’s first
mortgage guarantee company, India Mortgage Guarantee
Company, will soon go operational. With mortgage
guarantee, which is basically a risk-mitigant, a home loan
borrower may be able to reduce his equity for taking a
loan.
LIC Housing Finance floats urban
development PE fund
Mumbai flat draws record price
Fitch assigns negative outlook
on Indian real estate sector
Govt. approves Rs 5,388 cr road projects in 3 States
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
22
The value of property transactions in Dubai increased by
20% during 2011 reaching AED143 billion for the year,
the latest data from the emirate’s real estate watchdog
shows. The Real Estate Regulatory Authority (RERA) said
that sales were boosted by 6,400 new property investors
who entered the market.
Dubai’s property market was devastated at the end of
2009 when a boom turned to bust as overseas investors
and domestic buyers deserted the market and this is the
first official sign that they are returning.
NIKE, Inc just announced plans for the development of a
new centralized campus for Nike’s employees in Shanghai,
China. The nearly 600,000 sq.ft. headquarters will be
built at The Springs, Tishman Speyer’s newest mixed-
use development in Shanghai’s Yangpu District. Nike’s
investment in developing this new centralized campus will
support its long-term business growth strategy in China,
where it celebrated 30 years of business in 2011. The
Springs is Tishman Speyer’s largest project in China and
follows the development of previous successful commercial
projects in Tianjin and Chengdu.
The New Cities Foundation, a Swiss non-profit organisation
dedicated to urban innovation in 21st century cities, will
hold the inaugural New Cities Summit from May 14-16,
2012 in Paris, France. The annual New Cities Summit
aims to be the leading annual global event on 21st century
urbanisation, with a unique focus on urbanisation in fast-
growing economies in Asia, the Middle-East and Latin
America. NCF’s work examines the complex challenges
which many Indian cities are faced by such as poverty,
social exclusion and environmental degradation.
France’s first equestrian village is being built in Moulin-
Haut in south west France aimed at buyers in the over 50
age range who want to live in a community with sporting
and outdoor activities. The development is being styled
as an Equestrian Village as research indicates there is
a demand among people aged 50 and over to have a
healthy and active lifestyle which horse riding can provide.
Developer, The Villages Group, is minimising the use of
concrete, aiming for maximum energy retention with
the use of high levels of insulation and energy reducing
glazing.
An estimated 30 million NRIs (non-resident Indians)
worldwide sent nearly $4.58 billion in remittances back
home regularly last year according to the World Bank,
as they continue to drive international property sales to
record highs in the sub-continent. India has pipped
China in receiving the highest amount of remittances
for five consecutive years now. China is thought to have
received $4.57 billion. Working abroad in at least 130
different countries, NRIs are driving a boom in domestic
house prices in India as they seek to invest in property.
Vancouver’s property market has overtaken Sydney’s as
the most unaffordable in the world behind Hong Kong
according to a new study. Research group Demographia,
in its study of 325 metropoiltan areas world wide,
revealed that Vancouver’s median homeprice is now
$678,000…10.6 times the median pretax household
income of $63,800, making it “severely unaffordable”.
Sydney’s home price to income ration was 9.2, while
Hong Kong topped the ranking with 12.6… a record for
the survey, surpassing Los Angeles’ 11.5 in 2007.
Boom Time in Dubai Property Sales
Nike to develop new China HQs Campus in Shanghai
“New Cities Summit” in Paris this year
An equestrian village in France
NRIs send $4.6 billion dollars home
Vancouver beats Sydney in unaffordability index
international news
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Becks, Posh redesigning their homes using feng shui
Juhu flat for newly-wed Bollywood couple
eye-catchers
The Beckhams are reportedly preparing
for their fourth baby’s arrival in the
summer by giving their London and Los
Angeles homes a feng shui makeover.
Pregnant Victoria has hired 600 pounds-
an-hour interior designers to overhaul
their mansions. The 36-year-old former
Spice Girl ordered that the decorations be
done in keeping with the ancient Chinese
art of feng shui, which looks to find the
right balance of life forces.
Riteish Deshmukh and Genelia D’Souza, who were
pronounced man and wife a few days back are all set to
shift to a flat in suburban Mumbai. Designed by Riteish
and approved by Genelia, it seems the flat reflects both
their tastes. Riteish-Genelia’s eclectic wedding was spread
over two days, with two kinds of weddings – while the
Deshmukh family conducted a Maharashtrian wedding
with much pomp and show, the D’Souzas played host to a
grand Christian ceremony.
23VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
CEMENT = PROFESSIONAL KNOWLEDGE & MOTIVATIONCEMENT 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
A leading Israeli businessman and noted philanthropist,
Yitzhak Tshuva is currently ranked 440 in Forbes
Magazine’s list of World’s Billionaires with an estimated
net worth of $2.6 billion (as of March 2011). Yitzhak
leads the Delek Group, a major oil and gas exploration
and production company based in Israel and also owns
real estate company the El Ad Group.
Born into a poor family of 11 who crammed into a single
room after immigrating to Israel from Libya in the 1940s,
this self-made real estate entrepreneur started his career
penniless. With literally no formal education, Yitzhak built
his success story based on sheer hard work, intelligence
and expertise. He became a contractor after leaving his
compulsory service in the Israeli army and earned a tidy
fortune in the construction boom that coincided with the
influx of Soviet Jews to Israel during the 1980s and early
90’s. The year 1998 marked a turning point in his life,
when he orchestrated a hostile takeover of Delek, Israel’s
second-largest oil and gas company.
Yitzhak Tshuva Israel’s Gas King
Monthly Feature
CEMENT
real estate champions
26
Israeli Billionaire Yitzhak Tshuva bought the celebrated New York Plaza Hotel in 2004 for $675 million
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
A household name in Israel today, Yitzhak went
on to build a global real estate empire that
includes New York’s Plaza Hotel which he’d
snapped up for $675 million in the year 2004.
He also controls property in Vegas along with
partner Nochi Dankner. The Las Vegas Plaza is
the working name for the duo’s $5 billion to $8
billion ultra-luxury casino hotel project. Yitzhak
also owns 20,000 housing units and 700,000 sq
mtrs of commercial real estate in North America
and Canada along with real estate portfolio
in Europe. He has made global investments
through three companies- Delek Group, Elad
Holdings, and Tshuva Holdings. Other business
interests of the tycoon include car dealerships,
cable TV, car insurance and natural gas wells off
the coast of Israel.
Saving the “Lowest Point on Earth”
In between Jordan and Israel lies the lowest point
on earth, the Dead Sea. It is one of the most
spectacular landscapes in the whole world as
also the world’s richest source of natural salts.
The Dead Sea’s shoreline is sinking by a meter a year, and
it is feared that it will literally “dry up” by the year 2050 –
unless immediate efforts are made to save what many are
calling one of the Seven Wonders of the Modern World.
The idea for a Red Sea-Dead Sea canal has been around
for several years. One of the main ideas being forwarded
to stabilize the water level of the Dead Sea is the much-
heralded, yet controversial, Red-Dead Sea Conveyance
Project, which involves digging a canal and a series of
water pipeline conduits 160 kilometers from the Gulf of
Akaba to a location on the salt lake’s southern perimeter
in order to bring between 1,000 and 2,000 MCM (million
cubic meters) of water annually to replenish and stabilize
its water level.
The proposed canal carries a price tag in billions of dollars,
making it prohibitively expensive for the Israeli, Jordanian
and Palestinian governments. Enter the private sector.
Tshuva and several other businesspeople, including a
Saudi prince, offered to foot the bill, on the condition that
they be allowed to build a string of real estate projects along
the route. Now, ironically, the original canal idea (touted
as the Dead Sea’s savior, but expected by many to actually
damage the Sea) may give way to an unabashed real
estate land grab. The Red-Dead Canal has encountered
opposition, needs government approval and will take years
to build in any case. But the project’s momentum may be
sufficient to get some big construction projects approved,
even without the canal itself as a centerpiece.
Tshuva mentioned the project in a speech he gave at the
Tel Aviv Stock Exchange in June 2009, when he painted
an optimistic forecast of “up to a million jobs” being
created by the Red-Dead Conduit Project, and by “spin-
off” industries connected with it. In the speech, reported
in Israel’s Globes financial newspaper, Tshuva talked
about increasing Israel’s freshwater supplies through
desalination, including the desalination of Red Sea water
destined for the Dead Sea. Yitzhak’s plan also includes
building of parks, lagoons and entertainment centers as
well as hotels and beaches along the banks of the canal.
In addition, there will be gardens along the banks, which
will represent the nations of the entire world.
27
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.
Yitzhak Tshuva
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
Monthly Feature
CEMENT
28
Sydney Opera HouseThe Sydney Opera House is a globally recognized
architectural landmark and a renowned performing arts
center. As synonymous with Australia as the pyramids are
with Egypt, the Sydney Opera House is recognized by the
World Heritage List as a “great urban sculpture carefully
set in a remarkable waterscape and a world famous iconic
building.”
The modern architectural marvel is located at Bennelong
Point, a peninsula that juts out into Sydney’s breathtaking
harbor. The building forever associated with Australia
was actually designed by an architect from Denmark,
according to the Australian Government. Architect Joern
Utzon entered a competition run by the New South Wales
government in the 1950s. The competition was open-
ended, without requirements for cost or design. The only
specification was that the building should hold two halls
for opera and symphony performances.
Architecture
Many people visit the Sydney Opera House to admire its
architecture, rather than to attend performances. The
Sydney Opera House is a “masterpiece of late modern
architecture,” according to the Sydney Opera House
official Web site. According to the City of Sydney, the
architectural design is especially unique in that it does
not borrow from historical precedent.
Venues
The Sydney Opera House actually has multiple
performance venues, according to its official site:
Concert Hall: The largest performance venue, the Concert
Hall, is the home of the Sydney Symphony, the Australian
Chamber Orchestra and the Sydney Philharmonia Choirs,
among others. Seating 2,679, the Concert Hall is a
magnificent room fashioned of white birch timber and
brush box.
The Opera Theatre: Mostly showcasing opera, ballet and
dance performances, the Opera Theatre is a proscenium
arch lyric theatre that seats 1,507 and boasts an opera
pit that can seat 70 musicians. Opera Australia and the
The Sydney Opera House is located on the peninsula Bennelong Point
architectural marvels
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Australian Ballet are among the outfits that perform in the
Opera Theatre.
The Drama Theatre: The Drama Theatre houses theatre
companies, such as the Sydney Theatre Company and
Bell Shakespeare, among others.
Playhouse Some of the same theatre companies that
use the Drama Theatre also use the Playhouse, which
is a smaller venue that is also designed for theatrical
performances, but usually those operating with one set.
It seats 398 people.
The Studio Modern music and other newer performances
are typically held in the Studio, which is the smallest
venue in the Sydney Opera House. Cabaret and spoken
presentations are held at the Studio, which seats up to
350 people.
Utzon Room The signature of the Utzon Room, a multi-
purpose room, is a large, colorful tapestry commissioned
by the architect.
Forecourt This outside venue provides sweeping views of
Sydney Harbour and is used for New Year’s celebrations,
concert performances and other events. The seating is
amphitheatre style and can be reached by the Monumental
Steps.
Recording Studio: This is a world-class studio for producing
and recording music.
Performances
The first performance at the Sydney Opera House was
Prokofiev’s War and Peace, presented by the Australian
Opera. According to the Australian government’s Heritage
Branch, the Sydney Opera House has hosted some of
the world’s greatest performers, including: Opera singer
Luciano Pavarotti, The New York Philharmonic with
conductor Leonard Bernstein, Dancer Mikhail Baryshnikov
& performers like Michael Jackson and Elvis Costello.
Facts and Figures
Since its 1973 opening, the Sydney Opera House has been
visited by more than 100 million people and has hosted
100,000 performances. Below are some interesting facts
and figures about the Sydney Opera House:
• 3,000 events are held there annually.
• It contains 1,000 rooms.
• 200,000 visitors tour the building each year.
• 2 million people attend performances there
each year.
29
As the world shrinks smaller and smaller, our aspirations of matching the physical environment of developed nations has only grown. Thanks to globalization, Indian entrepreneurs and industry professionals have also been exposed to the latest global trends and technological advancements in the field of construction.
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
30
Monthly Feature
CEMENT
know your home loans
Home Loans Expectations from Budget 2012
IT Exemption limit on interest on housing loans may be
enhanced to 3 lakhs from existing 1.5 lakhs a year.
What may turn out to be big cheer for home loan buyers,
the government is contemplating to enhance income tax
exemption for up to Rs 3 lakh paid as interest on housing
loan in a year, from the existing limit of Rs 1.5 lakh.
As our readers may already be aware that at present, a
deduction of up to Rs 1.5 lakh is available from taxable
income towards interest paid to bank on housing loans.
Besides, borrowers can enjoy exemption on payment
of principal amount up to 1 lakh but this is a clubbed
amount along with your savings as LIC,
With the property prices and interest rates rising with
this enhancement may give the much needed respite to
property buyers.
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Monthly Feature
CEMENT
The aim of realty coach column is to keep you abreast
with the latest trends and happenings in the sphere of
real estate. In this issue, we are writing about a new way
to buy property. It’s often a common problem that you
wish to buy property yet the money in hand that you have
it not enough to suffice the investment required. You have
friends with whom you can make this joint investment
but then you don’t want anything to go wrong and avoid
getting in to this sharing arrangement which has no terms
spelled out. Well read below and you will surely find a way
out of this.
Partnership firms, Private Limited companies are made
to do business. You may also have heard of a new form
of partnership that you can create and it’s called as LLP
(Limited liability partnership). This paves in a new trend
in realty shopping. A concept in which you can shop
for property with your friends with all terms spelled out
and yet not have any complicated legal frame work. So
if you wish to go shopping for property by pooling money
with your friends, do it a proper legal way. Form a limited
liability partnership (LLP), pool money as per percentage
of money you are putting in, use the money to buy land
parcels and then either wait for appreciation or you may
also partner with a developer to develop built-to-suit
residential projects and earn money in future.
This model gives handsome discounts while buying
and earns a profit when surplus inventory (property) is
offloaded. It also provides tax advantages.
The LLP model defines the rights of the members and
no one person gets singled out because of the liability
emerging from the company. Hence, risks are spread out
evenly. Any two or more persons with an intention to carry
out lawful business for profit can form an LLP.
Members of an LLP bring in land as equity and can make
a profit of 15-20% on project development that gets
distributed among members. Lawyers, doctors, bankers
and IT professionals are among
those who float LPPs to invest in residential projects in
places like Bangalore and Chennai.
“Developers see this as a great opportunity as it provides
a captive audience for their projects with minimum or no
marketing costs,” said Shrinivas Rao, CEO of real estate
consultancy Vestian Global.
IT professionals are pooling in crores to form an LLP to
invest in residential projects.
LLPs are also a preferred vehicle for real estate investment
from a taxation standpoint. There is no tax liability when
the profit gets distributed among members of a group. In
contrast, when a corporate entity declares dividends, they
pay a dividend distribution tax of 15.5%,’’.
• Over 80 IT professionals in Bangalore pooled
in crores together and formed an LLP to invest in
residential projects.
• LLPs are great from a taxation standpoint.
There is no tax liability when profits get distributed
among members of a group.
• Lawyers, doctors, bankers and IT professionals
are among those floats LPPs to invest in residential
projects in places like Bangalore and Chennai.
realty coach
32
Shopping Property with friends
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.
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
34
Monthly Feature
CEMENT
Regular jogging gives better overall physical condition
as well as some other health benefits, including mental
benefits such as relaxation and reduction of anxiety.
Most importantly for many, running is a good way to
lose weight and generally get fitter. Jogging makes
the heart stronger. It increases the capacity of the
blood circulation and of the digestive and respiratory
systems.
Islands are priced according to a number of factors,
including acreage, climate, distance from the mainland
and the political stability of the area. There was a
time when transportation, communication, electricity
and fresh water were all complicated concerns. It’s
a different story now with the proliferation of low-cost
tourism, wireless technology, solar energy, desalination
units and wind generators.
Nothing beats a private islandJog On
the prosperity seekers
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
35
One of the things that makes chess particularly effective
as a way to keep our brains in shape is that the game
has a built in system of reward and punishment.
Attention is a critical component of learning, especially
if we want that learning to endure over the long term.
Chess gives you an instant feedback mechanism that
can quickly punish any lack of attention.
Check mate!
The Law of Attraction simply states that
you attract into your life whatever you
think about.
...good health, a great mind & lots of money!
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012
The Confederation of Real Estate
Developers’ Associations of
India (CREDAI), the apex body
for private real estate developers
in India, has envisaged ‘Mission
Transparency’ crusade to
promote transparent real estate
transactions by rallying the
Government’s support for a
single window clearance system.
It declares 23rd January as the ‘Mission Transparency Day’
to commemorate the birth anniversary of Netaji Subhash
Chandra Bose and revive his philosophy of ‘Complete
Unconditional Independence for India’. CREDAI goes
that extra mile to infuse this philosophy into its vision to
promote red-tapism free single window clearance system
to achieve complete unconditional independence from
corruption in Real estate. This will weed out inefficiency
in the process right from land acquisition to issue of
completion certificate.
CREDAI, with this legendary campaign strives to translate
our freedom fighters’ vision of “Bharat Sone ki Chiriya”
(India a golden bird) into reality. CREDAI looks forward to
celebrate this ceremonious occasion every year on 23rd
January. Recounting the old motto of ‘Give me blood, I
will give you freedom’, CREDAI reinvents this motto to
retool it along the lines of ‘Mission Transparency Day’
for advocating, ‘Give us corruption free single window
clearance system and we will flood India with homes’.
CREDAI has promulgated stringent code of conduct for
the members’ compliance before assimilating them under
the CREDAI banner.
By taking ‘Mission Transparency Day’ forward as an
annual occasion, CREDAI members pledge to practice
internal discipline while adhering to the code of conduct
that protects the interest of all stake holders especially
the home buyers. CREDAI strives to achieve this mission
by enforcing ethical business practices for building a
credible real estate industry. While ‘Mission Transparency’
is a campaign advocated by CREDAI, it would exhort all
Monthly Feature
CEMENT
36
CREDAI adopts 23rd January as ‘Mission Transparency Day’
flipside
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About CREDAIIt is the apex body of the organized real estate
developers/builders across India, representing
pan-India associations of real estate and housing
developers. Since its inception in the year 1999, the
association has grown manifold with allegiance from
22 state/city level associations viz. Andhra Pradesh,
Chhattisgarh, Delhi-NCR, Goa, Gujarat, Jharkhand,
Karnataka, Kerala, Madhya Pradesh, Maharashtra,
Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh
and West Bengal with over 6000 individual member
developers encompassing over 60% of the organized
private sector real estate development activity in
member states/cities in the country. CREDAI has
been instrumental in rallying the cause of the Real
Estate sector by presenting the issues and concerns
of real estate developers to the Government. For more
information log on to – www.credai.org
“Give us corruption free single window clearance system and we will flood India with homes”- CREDAI
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
Mr. Lalit Jain, President CREDAI
stake holders including the Government body for a single
window, transparent approval mechanism that can lead
to faster acquisition of land, registration of land, statutory
approvals and speedier service connections resulting in
efficiencies of cost, quality and time. With the ‘Mission
Transparency’ drive CREDAI looks forward to establishing
a relationship of goodwill and credibility with all the stake
holders.
CREDAI National President Mr. Lalit Kumar Jain, who
pioneered the concept of Mission Transparency, sharing
his vision said, “‘Mission Transparency Day’ will be
registered as the red-letter day in the history of the Indian
Real estate. With this revolutionary endeavour , CREDAI
takes the giant leap forward to be the catalyst for the
next big change in the Indian Real Estate, that is 23rd
January, a Corruption Independence Day for Indian Real
Estate. Food, Clothing and Shelter being basic necessity
of humanity and with the gap between the rich and poor
increasing, it is imperative that this basic necessity of “
Housing for All” is addressed in an inclusive manner
by the stakeholders leading to creation of housing
stocks. Only a transparent mechanism can ensure the
inefficiencies plaguing the system to be eliminated. This
will culminate into reduction in cost. With this game-
changing crusade against corruption, we look forward to
a nation that is corruption free, thoughtful, full of vigour,
verve and absolutely fearless.
Builders. Entrepreneurs physically building the nation. The houses we live in and the offices where we go to work. They have a significant 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.
VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012 37
CREDAI Secretary Mr. T. Chitty Babu & chairman Mission Transparency Branding Mr. N. Nandakumar
Monthly Feature
CEMENT
38
in your good books
We’re all living in a marketing driven, credit oriented society, and it is important for us to exercise financial 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.
In his most popular book, The Total Money Makeover,
American financial author, radio host, television personality,
and motivational speaker Dave Ramsey offers a proven,
comprehensive plan for getting in shape financially. The
method of overcoming debt and achieving financial health
outlined by the respected financial expert of is not easy. It
requires sacrifice, hard work and total discipline. In fact,
readers would find printed on the bottom of every page of
The Total Money Makeover, this motto: If you will live like
no one else, later you can live like no one else.
As per the author: “If you will make the sacrifices now that
most people aren’t willing to make, later on you will be able
to live as those folks will never be able to live.” The first
five chapters of The Total Money Makeover focus primarily
on psychological hurdles that one must overcome in order
to be ready to build up their personal finances.
Hurdle 1: Denial
People in financial trouble more often than not simply
deny that there is a problem with their own finances. They
tend to forget that it is in fact the possibility of a disaster
as well as the possibility of great financial success which
they have failed to accept.
Hurdle 2: Debt Myths
Debt is never a healthy thing to have. Taking on car
payments because everyone does, is not smart. Dave
views on credit card usage can actually convince you to
switch over to the lesser used debit cards.
Hurdle 3: Money Myths
The most common myth regarding money is that it is the
key to solving all our problems. The truth however is that
money is nothing more than a tool. If we can use money
as a tool, we set ourselves free, otherwise money uses
us.
Hurdle 4: Ignorance
Most of the time, people are busy imitating what everyone
else does and consider that to be right. The right approach
to follow would be to sit down and analyse the problem to
be able to come up with a lasting solution.
Hurdle 5: Keeping up with the Joneses
Many people get into debt because they want to keep
up with people whose financial situation they don’t really
know about, and follow blindly.
The second portion of The Total Money Makeover consists
of Ramsey’s seven “baby steps” to financial freedom.
Dave’s a big proponent of the one step at a time concept
and proposes seven “baby steps” to financial freedom. By
following these in order — and not moving on to the next
until the current step is complete — readers gradually
progress from debt to wealth.
The Total Money Makeover A Proven Plan for Financial Fitness
Dave Ramsey
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
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Monthly Feature
CEMENT
The Akshaya Patra Programme is organized by the Akshaya Patra Foundation that provides mid-day meals through an
efficient distribution system to over 5 lakh school children every day, with the support of the Government of Karnataka
and a large number of donors. This scheme encourages the children from the most underprivileged sections of society to
attend school, giving them a chance to attain a better foothold in life, than their parents.
Prestige Group, Bangalore have pitched in by adopting over 550 school children of the Government Urdu School at DJ
Halli, Bangalore, and serving them hygienically cooked mid-day meals on a daily basis. Taking this a step further, they also
distribute school bags and stationery to these children on an annual basis.
Akshaya Patra Programme
40
soft cornerCorporate Social Responsibility (CSR) is represented by the contributions undertaken by 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.
PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6
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