An article about " Bungalows at Apartment Rates "

Bungalows at Apartment Rates

Economic liberalization and globalization have created a whole new breed of wealthy Indians with a changed mindset willing to pay to get what they want.

The bungalow-scheme is their new luxury for the emerging affluent. Selling bungalow-plots at a price of a 3-bedroom-hall-kitchen apartment in metros is the new buzz among medium-to-large real estate developers due to rising demand. While the bungalows in most parts of Mumbai are crumbling down and making way for high-rises, Royal Palms, which is spread over 240 acre in Goregaon (East) in Mumbai, has recently launched a ready-for-possession bungalow scheme offering plots of 2,700 sqft for Rs 89 lakh. According to the company one can get a bungalow plot situated on a hill in Powai for the price of a 3- BHK flat in Powai.

What is being offered in this scheme is the once-in-a-life-time opportunity of having your own bungalow in Mumbai's western suburbs. Offering bungalow-plots and residential plot schemes to end-buyers gives developers a great option in the product mix offered to buyers, it was told.

Developers earlier focused only on group housing. Subsequently, the focus shifted to independent floors. Now, the time is ripe to tap this large market where there is significant demand for independent plots and villas. According to Mihir Nerurkar, executive director, Samira Habitat the company has set a target of selling 56 villa-plots by January 2010 and out of this, the company has so far / sold 50% at a price ranging from Rs 90 lakh to Rs 1.2 crore.

The Supreme Court (SC) has held that the government can't use its "extraordinary" powers to deprive an owner of his land as it would violate the citizen's Fundamental Right. The Court chided the Haryana government for proposing a sewage treatment plant near a school.

An article about " Furnishing of Living Room "

Furnishing of Living Room

Living room is an area of a house where the members of the family sit together and spend time. It is also a place where the family members entertain their friends. This part of the house is important and must be decorated in a special way. If you are not sure about the design structure of the room, consult various designing books and design a layout for your living room so that living room decor will be easier and faster.

Colour combination

Colour combinations play important role in creating a new look for your living room and hence smart selection of colours will instantly give you good feeling. You can choose contrast like black and white or one bolder shade with other lighter hues of the same shade. There are many designer wall treatments available in the market which can instantly give that contemporary or modem look for your living room.

Accessories

Second thing is the accessories, try to choose the accessories that seem to stand out to you the most. Unique and bold pieces will definitely help you enhancing the look of the living room instantly.

The room should not be crowded with furniture and artifacts to avoid a heavy end effect. The appearing should be one of warrnth and too much display may give a cold and commercial look. Just one or two costly pieces kept in the right places would give the message. There should be free movement with the seating arrangement.

If the flooring for the living room is not ready yet and you do not have time to change that, carpets or modem rugs available in various shapes and sizes in the market is the best option for you. Tryto mix and match things so that you can avoid unnecessary shopping and wasting your time for the things you do not need.

Furniture

When deciding on the type of furniture to fit in a room the nature of the occupant, the kind of use it is put to and the budget have to be kept in mind. The other side that has to be considered is the shape and size of the room.

According to the function of the room you have to build the seating. After deciding the concept you can take or ornate as long as it is functional. If there is a television the arrangement should be around the TV. If it is for conversation the chairs should be clustered according to that. There need not be a coffee table or display unit in the living area. The display unit does not have to be a traditional one but can be a plank jutting out of a wall in an aesthetic way, and then the wall becomes the display area. Fora typical high-end formal living room one could have two to three seating arrangements. For this the space should be large. A different material to bring in variety and emphasize an opulent setting could be used for each arrangement.

A small room will only allow one type of seating arrangement. According to the budget you could have leather, wood or cane seating. Hand painted blinds could be used instead of curtains and it will appear like a painting on the wall.

As the cost of wooden furniture is not too much it would come into the mid-segmentcategory although if it is solid wood it would be costly. You should preferably use dark wood to accentuate the decor.

There can be two and three seating arrangements with nestle tables and coffee tables. There can be a planter in the comer with imitation paintings as the originals would not fit into the budget. The setting would take on an opulent look with a woolen carpet, crystals and artifacts on a display unit and coffee table. Pinewood and rubber wood can be used to bring down the cost. Cheap metal furniture can look classy too and will go well with soft furnishing. You need to have a lot of maintenance for metal furniture. The cold look of metal can be disguised through silk throws, rugs and cushions. It can be improved by using lively colors. The color of the wall should be right.

Another option for a tight budget is cane and the cost depends on whether it is imported or Indian cane. A cane coffee table with colorful durries, ethnic paintings and jute blinds will give an ethnic effect. You can make the cane look costly with the use of soft furnishing. Arresting colors such as shocking pink or a mix of gold, blue and pink can be used.

An article about " SELL YOUR PROPERTY FASTER AND EASIER "

SELL YOUR PROPERTY FASTER AND EASIER

Marketing a house is always a challenge. Just like inoculations, house owners usually want to get the sale transaction completed as quickly as possible. Here are some fengshui tips to help your house move faster.

Correctly place your 'for sale' sign. Make sure the 'for sale' sign is to the right of the front door as you look at it. This is the yang, or energetic, side of the house.

Prospective buyers must be engaged in every way possible. Use these ideas to engage the senses of buyers at your home. Use lots of horizontal space. Clear off all the tops of everything (dressers, counters, shelves, etc.). Draw the eye to the comer diagonal to the door to each room. This makes the room feel larger and makes buyers focus on a fengshui good luck area. Make sure all entries and rooms can be entered easily and comfortably and that there are no mirrors opposite any door. Keep your home from being dead still by keeping something moving such as ceiling fans. Place a fountain close to the front of the house or keep music playing at all times, especially in the northwest comer of the house.

According to fengshui, earthy scents ate the most appealing to the widest range of people. So, opt for cinnamon and pine scents rather than floral or vanilla scents.

The front door is the most important area of the house in fengshui. Keep it immaculate, with lights turned on in front in the foyer, a new doormat and have something flanking either side of the front door, such as two pots of lush, healthy plants and flowers.

Have a table in the foyer or front room of the house, on the right as you enter the front door, with business cards, literature, a bowl of chocolates or cinnamon candies, and small vase of fresh flowers. Put this on a red-colored cloth. Make sure business cards are in an acrylic holderso they are not playing down on the job.

The northwest comer of a home is considered as the 'helpful people area'. Activate it with music playing here.

In fengshui, kitchens are prosperity and health areas. Insist on clear counters, clean, organized pantry, and wastebaskets and knives out of sight. Place a small, lush plant and jar full of cookies on the counter.

Buyers should never see a toilet when they enter a house or a room. Toilet lids should remain down and doors to bathrooms should always be closed.

Make sure there are no plants touching the house. This draws energy away from the house. No spindly plants since it make the house seem like it is dying. Give all the plants in and around your house a good sprucing up and no dead plants whatsoever.

To assist you over the mental hurdle of leaving buy the new owners a small gift such as a new front door mat or crystal candy dish filled with chocolates because chocolate is excellent fengshui.

An article about " VAASTU SHASTRA FOR REDEVELOPMENT PROJECTS "

VAASTU SHASTRA FOR REDEVELOPMENT PROJECTS

Vaastu Shastra, a science of environmental harmony and energy, can be effectively used for redevelopment projects in order to gain peace, harmony and prosperity. Vaastu can be used effectively for new construction and also for projects already designed. The following are the few tips to generate positive energy and better results:

Auspicious days

Date of commencement of construction is very important for bringing out better results. Normally, Monday, Wednesday, Thursday and Friday are good days to start construction and it is better to avoid Sunday and Tuesday for commencement of construction. Starting of construction in Shukla Paksha brings happiness. Stars such as Rohini, Mrigshira, Chitra, Hasta, Swati, Anuradha, Uttara Shada, Uttara Bhadrapa, Uttara Falguni, Dhanista, Shatabhisha and Revati are considered as good for commencement of construction.

Cleaning and leveling of land

Before commencement of any construction activity, clearing or removing the throne plants or dead trees and rocks is necessarily to be done. Similarly, leveling of land is very important under Vaastu Shastra. Proper leveling of land with certain portion of such land with little height than the remaining area would create a very good flow of cosmic energy which in turn would ensure uninterrupted progress of the construction work.

Vaastu Pooja

Vaastu Pooja IS also called Shanku Sthapana. Shanku means energy converter and Shanku plays a very important role to remove the negativeradiation / energy from the land. Shanku Stapana means the pooja done for laying the foundation stone and praying to the Shanku for his blessings for removal of negative energy from the land. Pooja is offered to Shanku and there after it is buried in the mid point of the plot since it is believed that the energy moves towards the centre or mid point of the plot. Thus, it is believed that the Shanku buried at the mid point will ensure suppression of the negative energy.

Starting point

The starting point of construction is very important under Vaastu Shastra. Thus, the construction should commence from South East and moved forward in a clockwise manner.

Builders / Contractors site office

Every builder or contractor builds a temporary site office at the construction site. Proper placement of this office including seating arrangements of the contractor or builder, his manager and other staff in the proper direction enhances the energy level of the persons working on the project. This, in turn, will help in getting better results from the staff and managers working on the project. The builders site office could situate in south or the west of the site and the owner/builder/manager should sit facing east and the rest of the staff sitting facing north.

Place for stores

Proper placement of machinery and construction material is also very important to generate positive energy and for smooth progression ofthe project. Electric machinery will give positive energy when placed in the Agni Sthan and the materials like sand and bricks should be stored in Prithvi Sthan or South. Temporary water tanks for construction should under no circumstance be placed in South - West since this will cripple the project and will bring losses to the developer.

An article about " Builder to pay Rs. 25 Lakh for fleecing Couple "

Builder to pay Rs.25 Lakh for fleecing Couple

The Maharashtra State Consumer Disputes Redressal Commission has ordered a Builder to pay Rs. 25 lakhs to a Doctor Couple form Mahim, after they were charged an extra Rs. 12 lakh under the garb of penal interest.

The couple had booked two flats in the SRA building in 1997 but received their possession only in 2008. According to the panel, the interest or penal interest charged on account of defaults is absolutely unjustified and is an excess recovery made by the Builder without a reason. So, each complaint is entitled to claim amount back.

The Builder will have to return Rs. 6.92 lakh, along with 18% on it since 2007, to Mrs. Dr. Sangeeta and to Mr. Dr. Hemanth Pikale. The duo will also receive Rs1 lakh each for mental agony caused to them and Rs. 25,0000 each for costs of the complaint. The Builder will also have to give them the Occupation Certificates. In 1997, the Pikales bought the flats, each 344 sq.ft. in a building in Mahim that was to be developed and constructed by innovative Constructions Pvt. Each cost Rs. 21.37 lakh. Even though possession was to be handed over in three years, the Pikales received them on January 8, 2008. They alleged that just before handing over the flats, through a letter in December 2007, the Builder demanded more money. In January 2009, the complainants issued a notice through their Lawyer and demanded compensation for 5the delayed possession and to return with interest Rs. 6.02 lakh, illegally recovered as penal interest. As the Builder did not respond, the couple lodged two separate complaints in the commission in 2009. The Builder denied the allegations. The commission referred to the submission made by Mrs. Dr. Sangeeta, that whenever the Builder raised a demand, she found the construction was not of the desired stage and so, the demand made was premature. According to the Commission, Inspite of the checking out what the demand was, she went on making the payment, but not strictly within 5 days of the demand received, as the Builder could not justify his demand. The Builder cannot blame the complainant for delayedpayment and cannot invoke clauses in the agreement to charge any interest.

An article about " EARTHQUAKE RESISTANT BUILDING "

EARTHQUAKE RESISTANT BUILDING

You must meet the criterion of minimum stiffness but it should not be made too stiff as that will draw greater forces from earthquakes and be harmful,

Flaws in the construction of high-rise buildings in many important cities in this country have made the people vulnerable to the serious dangers involved at times of earthquakes. It is high time this fact was grasped by the public. During the last two years there have been several conferences and workshops on the topic of reducing risk from earthquakes. People from the scientific and engineering community are interacting on issues related to earthquakes. 

There is unanimous agreement among the engineering fraternity in pinpointing the category of building which is mainly at risk among all the buildings in India. It happens to be buildings on stilts. This refers to the fact that buildings which have an open ground floor area that is often used as a car park are the ones referred to.It is a fact that most of the buildings on stilts would fall should there be a big earthquake whether in seismic zones 3, 4 or 5. Almost 60 percent of the Indian landmass belongs to these 3 zones with the greatest danger being in zone 5. There are four zones and zone 2 is the least dangerous. Zones 3, 4 and 5 include most of our important cities of Mumbai, Delhi, Hyderabad, Pune, Chandigarh and Kolkata.

Adding to the problem is the fact that buildings on stilts are all multi- storeyed. This makes the rate of casualty even higher than a low-rise building. If the government is conscious of this grave problem what is it doing regarding this. It seems that such a problematic issue is easier to sweep under the carpet. Even though the people in authority are aware of the situation it just seems to get bigger with more unsafe buildings being added in the cities.

It can however be resolved if faced in a methodical and timely way. Awareness must be awakened among the masses that all buildings on stilts are to be counted as unsafe till a safety certificate is given by a structural consultant. The majority of Indian cities have multi-storey buildings constructed on 9 to 12 inch (22.5 em to 30 em) thick columns and this is very inadequate even for zone 3. If there is a major quake these structures are bound to collapse and crash.

The owners or occupants should  have a structural check done for their building in order to pinpoint those that need to be upgraded by a structural retrofit. For this giant task India possesses thousands of structural engineers who can be of assistance. Small cells of individual consultants working on a building each would be very successful in a 

public-private partnership representation.  The majority of buildings in Indian cities and particularly those on stilts are deficient in stiffness. If any building is known to be lacking in stiffness it can be easily compensated by using concrete jacketing or additional columns. You have to take care that jacketing is done right down to the foundation. You must meet the criterion of minimum stiffness but it should not be made too stiff as that will draw greater forces from earthquakes and be harmful.

A retrofit tactic can be recommended by the engineer on the basis of computer analysis which can be communicated to the building owners to implement. After this process the owners should be burdened with the responsibility of keeping the building safe. The government may think of giving an incentive in tax for the money used on retrofit of residential buildings.

An article about " Some interesting fact about the Indian Real Estate "

Some interesting fact about the Indian Real Estate

In a country where there is traditionally the predominance of the agricultural sector, that sector continues to be greatest source of employment generation. The Indian real estate sector is the second largest employment provider in the country. This sector significantly contributes to the national income and Gross Domestic Product and it is expected there will be an average 10% increase annually in this sector.

The recent slump in the property market in India consequent upon the global economic downturn is reported to be fading away and the industry is projected to register considerable growth in the coming years.

The observation of the international property consultants Jones Lang LaSalle is significant in this context:

"Economic recovery during 2010-11 is likely to reinvigorate the interest of foreign investors in India's real estate market. We expect enhanced capital inflow in the realestate sector in the medium-to-long-term".

Again, Jones Lang LaSalle report says, that the faster economic growth of the nations like India, China, Brazil and Russia will pave the way for faster recovery of the real estate sector in those countries when compared with countries like the US and the UK. The Indian property market will be in an upswing from the last quarter of2009 and over the next 5 years and the industry will attract up to US $ 12.11 billion investment.

It is estimated that organized retail marketing sector will be in need of an additional 220 million square feet space by 2010 in addition to the requirements of I.T. and ITS organizations. This growth momentum will sweep across all tier -1 and tier - 2 cities.

In the construction industry, the Indian companies are making higher profit for their projects when compared with their US counterparts. Indian construction firms are making on an average 18 percent profit while the US companies are making much less than that.

The foreign institutional investors are very much confident of investing in Indian real estate and there has been a whopping 400 percent increase in the past six months.

An article about " Housing Loans "

Housing Loans

Reasons why the Self-employed are denied Housing Loans

Housing Finance benefit for self-employed individuals is a scheme given to people, who have low income and could not afford to buy a house. This benefit gives a chance to lie in adecent place without restraining the budget.

As long as you have the necessary requirements, you can apply for a housingbenefit.

Applying for a Housing Benefit, if you want to live in a decent accommodation, yet you do not have enough funds to obtains a fully furnished house and then you should apply for a housing benefit. This is not only for employed individual but also for self-employed. All you have to do is inquire from the concerned Agency, if you are qualified for such a benefit. When you apply for housing benefit, you should possess any of the following, such as income support, having a full timeor part time job as well as self-employed.

On the other hand, there are several factors that affect the awarding of the housing benefit to a self-employed individual.

•        The amount of rent that can be afforded by the applicant;
•          Council tax liability;
•          Number of family members, including the non-dependants.

   If you know that you are qualified for housing benefit, you should not delay claiming it. The firstthing to do is to proceed to the agency and complete the claim form. As much as possible, you should show proof of self-employment, proof of income and other requirements asked by the Office. If the claimant is self-employed, there are other requirements to be submitted before the claim is processed.

   Moreover, when applying for housing benefits for self-employed, you should ensure to meet the savings required. Likewise, the approval of the claim is based on the savings as well as personal circumstances of the claimant. It is also required to submit the audited business accounts and the self-employed earnings. On the other hand, if the Applicant does not have the audited accounts, self employed individuals have created the need for a special category of mortgage loans for self-employed Borrowers. While loans for the self-employed have been around for many years, recent streamlining of some programs makes the process simpler and safer for self-employed Borrowers. Despite the recent tightening of mortgage underwriting overall, the self-employed can still get mortgage loans. The primary problem that self-employed Borrowers face is that while their accountants are experts at reducing tax liabilities by minimizing current net income, underwriters rely on that same net income as a gauge of a self-employed Borrower’s earnings. That is great for minimizing your income tax liability but hurts your ability to qualify for a mortgage. The second major problem for the self-employed is that nearly all Mortgage Lenders require that Borrowers beself-employed for at least two full years. For the Lender, this means showing the last two years of tax returns showing two full years of self employment income. Since most people do not start their business exactly on January 1, what this really means is that you need to be self-employed for two January to December years in order to meet the two year test. Self-employed individuals are not necessarily more or less of a financial risk than employed Borrowers. However, the manner in which Borrowers are reviewed by underwriters for loanapprovals can often make a self-employed Borrower’s financial position look worse than it actually is.

   In the current mortgage environment, self-employed mortgage Borrowers will be required to document every aspect of their business and can expect to have every part of their tax returns and business Bank statements reviewed to make sure they are reallymaking the income claimed on their tax return.

An article about " Wall Decoration Techniques "

Wall Decoration Techniques

Since time immemorial interior surfaces of homes have been beautified by artisans and craftsmen with decorative paint techniques. These treatments that attract the eye are in vogue today for the purpose of camouflaging or improving design details or justadding some class to a sober decor.The main elements of expression in home design are texture, color and form. 

The structure of the environment is shaped by form and the mood is affected by color and texture. A room can be made colorful through the paint medium with its unlimited shades and methods that open up a new dimension of decor.Methods of decorative painting are of two types: The first type has faux finishes (faux means false in French) consisting of faux marbling, faux wood graining and Trompe l'oeil (to fool the eye) meaning to copy a real object or material. In the latter category is a style which forms realistic central points or vistas by freehand application. Another class of decorative painting methods consists of treatments that only decorate. In such are included sponging, ragging, combing, stenciling etc that are some of the adorning finishes to liven up interiors. For simulating rich surfaces without the cost of expensive building material marbling and wood graining arebest. Through faux marbling an illusion of the aristocratic natural stone is created in small to large spaces. 

As natural marble has depth and a variety of color it permits faux painters much liberty to produce finishes ranging from vivid to simple. The skill of applying various color paints to a uniform base coat is known as sponging and it accomplishes a finish that is multitone. It gives depth and texture to any wall and the depth increases according to the number of colors sponged over the base coat. Shades and sponge tints of the same hue as that of the base coat produce an air of calmness. In dragging a simple method is used made of only dragging a dry brush across a wet glaze that is applied over a base coat. It produces the texture of fine linen or grass paper. For making a strong visual statement complementary colors should be utilized. For a subdued effect tints and hues of the same color should be used.Combing is another type of dragging in which a comb is dragged through a wet glaze applied on a dry base coat. Various kinds of patterns may come with this method, e.g. Straight, moire, wavy, crosshatched and basket weave. 

The size of comb is according to the scale of the wall. If it is a large wall a wide comb is used and for small walls a narrow comb is used. A restful atmosphere is created through this and therefore it is useful in bedrooms. An impression oflight-hearted joy can be created through splattering color. It is an ancient technique of decorating walls. Using a splatter machine with nozzles that can be adjusted droplets of paint are sprayed on walls. A subtle effect is created when the base coat and splatter color are shades of the same color and an effect of confetti is created when several contrasting colors are used.Through stenciling walls can be decorated by emphasizing an edge or emulating a fabric print. It improves the decor of a room. 

Stencil borders can be done at any height, whether along the ceiling, at a chair rail height or around a window or door casing. It is not used only in borders but an illusion of wall paper can be created with a print matching that of the fabrics utilized in interiors. A method of hiding rough or uneven surfaces is known as ragging especially if flat paint is used both for the base and the glaze. Diverse textures are concocted with different effects that depend on the texture of the fabric and the haphazard wrinkles in the rag. Children's bedrooms which entail a lot of wear and tear are suitable for this method of painting. The proportions of the room and our personal tastes and creative ideas determine the category of pattern one chooses. During the festive season especially, walls can be dressed up in an exotic and innovativeway.

An article about " SALE OF DEVELOPMENT RIGHTS TAXABLE "

SALE OF DEVELOPMENT RIGHTS TAXABLE.  

                            

The tax payer instead of developing the land, transferred the development rights in respect of part of the land to a separate construction company. As per the agreement, the tax payer jointly with the trust was required to convey the land to the proposed buyers. Instead of developing land, the tax payer parted with the development rights in respect of part of the land forever. The possession of the land had also been given during the year along with development rights. This was an independent activity having no connection with the development of the remaining part of the land. The tax payer was following mercantile system of accounting as per which income accrues when it becomes due for payment.  In the instant case, the entire amount become due to the taxpayer in the relevant year on signing of development agreement and on handing over of the possession of the land. Under the mercantile system of accounting the accrual of income does not depend upon receipt of income.  Therefore, the income had accrued during the year since the transfer was complete during the year.  The postponement of payment does not stop accrual of income.  Therefore, even if part of the payments were received in subsequent years, the entire income had accrued during the year.  However, the Tribunal allowed the deduction in respect of cost of acquisition of development right.