MUMBAI A premium residential apartment located in Central Mumbai was
purchased in a primary sale at a total cost of Rs 14,00,00,000. The 4-bedroom
unit is spread across an area of approximately 4,000 sq ft and commanded an
average capital value of Rs 35,000 per sq ft, which is at par with the range of
Rs 34,000-55,000 per sq ft prevalent in the location. The apartment comes with
four dedicated car parking lots. The apartment is situated on a higher floor at
a residential project located in Mahalaxmi. The project boasts of numerous
value-added amenities like club house, landscaped garden and walkways, barbeque
location and an amphitheatre, in addition to three swimming pools for the
residents. Central Mumbai has been witnessing many premium developments as
residential demand in the location from end-users as well as investors is high.
The location is situated at a comfortable distance from major business
districts of Nariman Point and Bandra-Kurla Complex, while Central Mumbai
itself is developing into an office location. It has remained steady in terms
of capital values for high-end property and is expected to remain stable in
short to medium term. BANGALORE A high-end residential apartment
admeasuring
2,500 sq ft was sold for a total value of Rs 1,50,00,000 in a premium
residential complex located near Hebbal Lake. The 3-bedroom apartment fetched
approximately Rs 6,000 per sq ft which is in line with the values prevalent (Rs
6000-13,000 per sq ft) in the location. This apartment, which is part of a
premium residential development, offers to its customers a wide variety of
services, including club house and sports facilities such as squash, badminton
and a swimming pool. Hebbal is one of Bangalore’s rapidly expanding residential
markets. While the area is situated in the North, the location enjoys
connectivity through the ORR and other arterial roads into the city and to the
major commercial and retail destinations across the city. The residential
market had registered a considerable correction in its capital values of
approximately 32% in 2009. However, it has seen some appreciation in the past
quarter and is expected to remain steady in the short-tomedium term. KOLKATA An apartment, located on EM Bypass
and admeasuring
2,393 sq ft was sold at a total cost of Rs 1,04,98,460 (Rs 4,220 per sq ft).
This is one of the city’s upcoming residential locations with many mid- and
high-end residential units, which have been witnessing some active end-user
demand, post the recent economic slowdown. The location enjoys proximity to the
established CBD and SCBD and to the new IT hubs of Salt Lake and New Town
Rajarhat, thus making it an ideal location for residential development. After
having experienced a slowdown, the location has started to see some revival and
a resultant increase in capital values of approximately 8% over the previous
quarter and is expected to remain stable with an upward bias in shortto-medium
term. Courtesy:- ETdt:- 09-April-2010
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After 6th pay award to government employees,
it is now the turn of lakhs of PSU
bank employees to earn a 17% pay hike, with arrears from 1997. With NCR alone having over a lakh bank employees, realty
firms are eyeing them as a captive customer bank, says
Sarthak
RK Bhandari, a senior official in
railways, had not thought of buying a
house before the implementation of 6th Pay Commission report for government
employees. And understandably so — before the report came in, his salary was
not enough to run both the household as well as pay an EMI on a home loan.
Once the much awaited pay commission report was implemented and salaries of
government employees increased appreciably, Bhandari booked a flat in a residential project of a
reputed realty firm in Ghaziabad.
"As my office is in Baroda House, I thought I should book my flat in Ghaziabad. That is
nearest to my office compared to other NCR
cities", says a delighted Bhandari.
Well, this is the story of a large number of government employees. There is no
doubt that last year, when realty sector was also facing the heat from economic
slowdown and people were loosing jobs, it was these government employees who
had given necessary push to realty firms. According to Samir Jasuja, CEO of
PropEquity, government employees were the ones to come to the rescue of realty
sector when the chips were down. It was a most unexpected bonanza for realty
firms. "The best thing about government employees was that there is no
issue of job loss for them. And, secondly, they got good hike in salaries after
6th pay commission report was implemented. That was enough for them to buy
their dream homes."
Realty experts say that even though many cash-rich
government employees with secure jobs are still looking for suitable homes, the
coming weeks and months would see a flurry of activity when public sector bank
employees would also get their new pay scale. The new pay scale has already
been implemented with an average hike of 17% in salaries. Now, realty firms
would and should try to woo them as well as bank employees will surely throng
new projects to book their flats.
In a recent survey by realty advisory, Century 21
India, around 12,000 flats would be available in both Ghaziabad and Greater Noida this year.
Devinder Gupta, CEO of Century 21 India, feels it is high time developers woo
both government employees and bank employees. "The over one lakh Delhi and NCR based bank employees can be tapped to buy
flats. As they do not get government accommodation, unlike many government
employees, they would like to buy their own houses," he says.
According to V K Suri, secretary of All India Bank
Officers' Association, there are over one lakh employees based in Delhi and NCR, and they would also get hefty arrears,
effective from November
1,1997. Moreover, they would be given new pay scales from, probably
next month. "I know for sure that many colleagues of mine have already
started looking for flats in the ongoing projects of various realty firms. Once
they get their arrears, as well as new pay, they would in all probability start
booking for their new homes," says Suri, who is also looking for a flat -
either in Ghaziabad
or Greater Noida - for investment purpose.
Do realty firms have a strategy to woo both government
and bank employees to book into their projects? Sunil Jindal, CEO of SVP
Developers, says that there cannot be any developer worth his salt who is
oblivious to the fact that they have a ready clientele in bank employees, even
as a large number of government employees are still on the look out for a
suitable home. "Our marketing guys are already on the job and they are
contacting government employees and bank employees. And due to their efforts,
we managed to sell over 200 flats in our projects in Indirapuram and Ghaziabad, during the
last 12 months or so," says Jindal.
The supply in Ghaziabad
will be spread across locations like Indirapuram,
Vaishali, Vasundhara and Raj Nagar Extension. According to a Knight Frank
report, 40% of this supply will be in the 3BHK category and 46% in the 2BHK
category. Due to availability of cheap land parcels on NH-58, Raj Nagar
Extension and NH-24, builders have explored these areas for developing
affordable projects. Supply in Greater Noida will be located in sectors Alpha,
Beta, Pi and Sigma. Ghaziabad
is all set to establish itself as a middle-class affordable realty destination,
while Greater Noida will emerge as a premium housing area. Realty experts also
point out that while Greater Noida means a good investment because of great
infrastructure, Ghaziabad
scores over Greater Noida because it is closer to the national capital.
"As Metro has already reached Noida and Ghaziabad, there is no
doubt that both these places will see a flurry of activity among new buyers of
flats," says Anil Sharma, MD of Amprapali group.
Meanwhile, Avinash Aggarwal, marketing director of OrangeCounty,
says that they (government employees) have always remained very high on their
agenda. That is a reason why developers always try to sell their products to
them. Aggarwal says that they follow values very vigorously and see to it that
they give them hundred per cent to their customers in terms of satisfaction.
Experts say that those who work for government or
semi-government organizations generally look for flats between the range of Rs
30 lakh and Rs 50 lakh.
Meanwhile, experts also say that there is still enough
scope to book flats in places like Gurgaon, Sohna, Sonipat, Bhiwadi, Faridabad and Meerut.
Prospective buyers should not ignore these places if
they want to invest money. "As they say, property always pays," says
Alimuddin Rafi Ahmed, MD of ILD group. In all these places, developers like
ILD, Omaxe, Supertech, DLF
and several others are building projects with great speed. Naturally, one would
not be a looser if they were to book flats in the projects of these players.
Today, National Highway 58 in Ghaziabad is among the important places to
invest in. This stretch has been seeing a lot of development and investment
potential. "For any person who is looking out for an affordable house, this stretch
promises a lot. Many developers are coming out with projects on this stretch to
meet burgeoning demand of middleclass end users," says Sanjeev Shrivastava, MD
of Assotech.
In a nutshell, it can be safely said that developers
will pull out all stops in wooing sarkari babus and banks employees over the
next couple of months.
Courtesy:- Times Property dtd:- 06-02-2009
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2 Bedroom flats Multistory apartments for sale in Faridabad
Description – KLJ Greens, 2 Bedroom
flats Multistory apartments for sale @Rs. 24,30,100 in Sector 77 in
Faridabad. Near the proposed expressway which puts in close proximity to Delhi and Noida. Best
accessibility of Project from FNG Expressway, Proposed Metro Station Just 3 Kms
At a short drive from New Delhi is the upcoming project in
Faridabad - KLJ Greens. the complex is meticulously planned with 2, 3 and 4 bedroom
apartments, earthquake resistant structure, power back-up and round the
clock security.For recreation and rejuvenation the complex will have a club,
swimming pool, tennis court, greens and jogging tracks. there will also ba a
shopping centre stocking the best brands, as well as provision for medical
facilities for the residentsStructure: Earthquake resistant R.C.C. framed
structure with infill brickwork.
Wall Finish: Internal – All internal walls plastered &
painted in pleasing shades of oil bound distemper & P.O.P. Cornice in
drawing & dining areas.
External – Aesthetically designed classical exterior with
texture paint finish.
Flooring: Living / Dining – Vitrified tile flooring
Bedrooms -Vitrified
tile flooring
Balconies – Anti skid Ceramics tiles
Toilets: Dado – Selected ceramics tiles
Flooring – Anti skid ceramic tile flooring & granite
counter top for washbasins
Fittings – Washbasin, EWC, a mirror, tower rail, hot &
cold water mixer fittings (without geyser)
Dado – Ceramic tiles upto 2’-0” height above working
platform, rest with acrylic emulsion paint
Platform – Working platform in granite top with stainless
steel sink
Windows: Powder coated aluminum windows / equivalent with
shutters
Doors: All doors shall be hardwood frame / quality flush
doors.All door shutters shall be flush type except main entrance door, which
shall be of decorative type with eye piece, night latch, safety chain &
good quality brass fittings.
Water Supply: Hot & cold water mixing arrangement in
each flats, 24 hours water supply ensured with large underground &
over-head tank with boosting arrangement.
Electrical: PVC recessed copper wiring with provision of A/C
point in all rooms with convenient & adequate provision of light &
power points as well as T. V. & telephone points in all rooms.
Lifts: Granite finish lift lobby for electricity controlled
lifts with 100% power backup.
Fire System: Fire protection system in accordance with the
latest NBC code
Power Supply: 3 phase connection in all flats with mandatory
power backup facilities of 5 K.V.A.
Buyers can now pick and choose the
brands of chandeliers, sanitary ware, kitchen appliances and even home
furnishings that would be fitted in their lavish condominiums as developers
jostle against each other to sell high-end houses priced upwards of Rs 1 crore.
The idea is to inject an element of
uniqueness in each flat in an apartment despite similar super-structures.
DLF, for instance, is allowing buyers of its super-premium
luxury projects such as Aralias, Belaire and Park Place at Gurgaon to use the services
of architects to specify the interior design. The alter ations allow changes in
bath fittings, flooring and minor tweaking in the structure.
"Our aim is to provide
exclusive living experience ensconced in luxury, which can only be taken care
of if we account for the unique tastes and preferences of the customers,"
a senior DLF executive told Hindustan Times.
Mumbai-based Ackruti City
Developers' have offered similar options. "We are offering four different
standards of customised interior options for an individual to choose from in our residential
project Jewell at Andheri in Mumbai," company chairman Hemant Shah
said.
"The idea behind the initiative
is to make living a unique and pleasurable experience for an individual buying
flats in the company's residential projects," Shah said.
Analysts, however, said developers
would have to carefully walk the wedge to ensure that there is no slip up in
quality. "The customers should ensure that the quality issues are taken
care off well," said Anuj Puri, chairman of real estate consulting firm
Jones Lang LaSalle Meghraj.
"Customisation requires redoing
the interiors of an apartment, which escalates the cost. While the buyer of a
luxury villa is willing to shell out extra money for the ambience, the same may
not be applicable for midincome buyers for whom price is the sole important
factor," said Ansal API
spokesperson.
Millennium Spire-- a Singaporebased
private equity fund --plans to offer customised options for its midincome
housing projects as well.
"Instead of the pre-conceived
built up apartments, we will offer floor areas for sale in which the end-user
would decide upon the number of rooms to be built on the area bought,"
Ashish Bhalla, managing director, Millennium Spire, said.
Bhalla said the company would launch
5,000 such units over the next few weeks at Gurgaon. These
"apartments-on-demand" will be priced in the range of Rs 2,500 to Rs
3,000 per sq ft. "Architectural customisation will be the unique selling
proposition for our houses," Bhalla said. Average size of a residential
unit has been coming down in recent years "We will give them such
choices.". The customisation bug, however, has not bitten all real estate
developers.
Unitech, Parsvnath and Omaxe said they
do not have any plans to offer any customisation in their apartments. "We
do not have any projects in our portfolio wherein we would like to offer
customisation to our customers," said R. Nagaraju, general manager
corporate planning, Unitech.
Spokespersons for Parsvnath and
Omaxe too denied any such offering by the companies in their real estate
projects.
Courtesy:- HT Business dt:- 02-01-2010
Parsvnath Developers Ltd Launches Commercial complex Parsvnath City Plots in Vastrapur, Ahmedabad
Unfolding a fascinating business opportunity at Vastrapur, Ahmedabad – a
place which is in the heart of city, is on the brink of educational
institutions and traditional business centres. It is also conveniently
accessible by high end consumers.
Coming up at this high potential zone on Judges Bungalow
Road is City Centre, Vastrapur, Ahmedabad. With convergence of various key
verticals that make integrated retailing a resounding success, Parsvnath City
Centre, Vastrapur offers distinct advantages for sustained growth.
High visibility to shoppers across all levels
Unique product mix which allows competitive environment
conducive for growth
Better retailer satisfaction due to world-class
infrastructure
Uninterrupted power supply with
100% power back-up DG sets of International Standards electrical wiring and
outlets separate metering for each shop.
Ventilation
Through centrifugal fans wherever
required plumbing storage tanks for raw & treated water, soil, waste &
vent pipes grease traps for kitchen.
Fire Detection system
Alarm system, hose reel provided,
wet riser provided, yard hydrant provided fire extinguishers provided,
automatic sprinkler system, break glass units and alarms.
Internal Finish
POP/gypsum board false
ceiling/aluminum ceiling in public areas. Stone/vitrified tiles/stainless
steel/textured paint. Covering on the walls in common spaces plastered &
OBD painted walls in shops.
Security System
CCTV & other hi-tech controls.
Round the clock security.
Exterior Finish
Permanent finish including stone
cladding, composite aluminum sheets, Reflective glass, curtain wall &
texture paint finishes.
Lighting
Facade lighting, street lighting,
adv. & glow signage, all the required internal and task lighting.
Common Facilities
Common toilets in each floor,
modern high class glass fronted lifts, piped music in all public areas, public
address system, parking in basement connected through lifts, escalators,
elevators, atriums
Suppose
a borrower takes a home
loan at a floating rate of interest. Unlike
with a fixed rate loan, the interest rates can move in either direction. If the
floating rates go down, the borrower will be benefited as his EMI outflow goes
down. On the contrary, if the floating rates move in an upward direction, the
borrower's EMI outflow will increase.
How
does a borrower cope with increase in rates? What are the options before a
borrower who is struggling to make EMI repayments every month?
•
Increasing the tenure of the loan could bring some immediate relief. However,
the longer the tenure of the loan, greater is the associated cost of borrowing.
•
Try to pay off high interest rate debts first and refrain from taking fresh
loans. Analyse how much debt you've accumulated and curb your spending habit
•
Move from floating to fixed rate if uncertainty of rate changes is stealing
your peace of mind. However, when
moving from floating to a fixed rate loan, the
borrower is charged a conversion fee. Sometimes these fees and penalties could
eat into your actual conversion benefits
•
Talk to the lender. Explore if he has any convenient repayment options that
could bail you out of your financial crunch
•
Explore if you can make prepayments. In case you have some other savings, even
a partial prepayment could greatly reduce your monthly EMI commitment. Some
lenders charge a small penalty for prepaying
•
If you are paying a far higher rate than other borrowers, perhaps switching to
another lender may not be a bad idea
Courtesy:-
FT dt:- 20-12-2009
Trinity Builders Launches New 2,3BHK Apartmentin in kochi
A project in association with "VC Homes" on the
ageless banks of the Periyar, Trinity unveils yet
another exemplary idea for living. Trinity Aquamarine, a tribute to the
perfection of Mother Nature that inspires us in all our creations.
Scheduled for completion in 2010, the property comprises of 3 BHK apartments,
excellent facilities like clubhouse, swimming pool, health club ensures that
you will always enjoy yourself. All Bedrooms and Living room of all the
apartments has the river view. Surrounded in such glorious settings Trinity
Aquamarine offers homebuyers and property investors another unique investment
opportunity.
Specification
RCC framed structure, Block Masonry Plastered with Cement
Mortar.
Over looking the river Periyar, rooms have excellent cross
ventilation.
The Authority of Advance Rulings (AAR) has cleared the air on taxation of a foreign realtor that has a tie-up with an domestic entity by ordering that the duration of work must be calculated from the day the effective work on the project beings rather than form the date of signing the contract.
Calculating of the number of days of work is crucial for a foreign company as it determines the tax liability of its earnings.
Foreign firms are often signed up by Indian infrastructure developers to do a part of the construction work. Examples of such arrangements include the Dahej LNG project where Petro net LNG awarded contracts to a consortium of foreign companies.
The AAR’s ruling came in the case of Cal Dive Marine Construction (Mauritius) Ltd, which signed an agreement with Hindustan Oil Exploration Company (HOEC) for laying undersea pipelines in the Cauvery basin. The AAR was hearing the calculation of “the period of activity undertaken” by Cal Dive, a bone of contention between the I-T authorities and the company.
Cal Dive inked the pact with HOEC on December 4, 2007 for $59,174,200. As per the double taxation avoidance agreement between India and Mauritius, the construction project undertaken by the foreign company must continue for nine months so as to make its income taxable in India. While the revenue department contended that the duration of operations for Cal Dive should be calculated from the date of signing the contract, the company argued that the period of work was lesser than the nine-month period. In a relief to Cal Dive, the AAR rules that the date of calculation should be the date from when the work has begun.
Commenting on the AAR’s ruling, Ernst & Young tax partner Amitabh Singh said the decision will provide guidance on how to calculate the number of days for taxing foreign companies involved in construction in country.
For that cozy, creative and unique look to your dream bathroom, Anjali Tiwari offers a few tips
Bathroom flooring should be chosen keeping safety in mind. There are lots of options for bathroom flooring in the market. But it will be wiser to set the budget before going to the market. The most popular options are bathroom carpets, bathroom carpet tiles, ceramic floor tiles, bamboo flooring, laminate flooring, vinyl linoleum flooring, hardwood flooring. The options in bathroom tiles are numerous. They come in various quality, colours, sizes, patterns and shapes.
There is no doubt that bathroom carpet adds warmth and softness to the floor. In winters, you cannot imagine going barefoot but if you have a carpet in the bathroom, then you can take that step - barefoot!
But, a bathroom carpet is not easy to maintain as a wet carpet makes the flooring dirty and also creates an unpleasant odor. So, it is better to use throwaway rugs instead of carpets for comfort. But if you are really keen on bathroom carpet flooring then use vinyl border around the bath, toilet and basin and put a few bath mats on it to soak in water and moisture from your feet. The most popular carpet in the bathroom is one with foam backing.
In comparison, carpet tiles are easy to install and if there is any defect in any one tile, you just have to replace the tile, while for a bathroom carpet flooring you have to tear down the whole carpet in case of any defect.
Vinyl linoleum flooring is durable and easy to clean and maintain. Marble flooring and good quality tiles are also durable, easy to clean and require no maintenance.
It is said that laminate bathroom flooring may or may not be used for wet floors, but you can use high quality laminate bathroom flooring with high gloss finish. This type of flooring requires maintenance. Stone finish in bathroom laminate flooring is durable and looks beautiful.
Hardwood flooring is durable but needs extra care. Normally, in hardwood flooring, oak and pinewood is used. Bathroom with hardwood flooring looks sophisticated and elegant. There is one more quite economic option of bathroom flooring — the ceramic bathroom floor tiling, which requires little care while installing. Ceramic bathroom tiles are durable, come in lots of colours and easy to clean. These types of tiles do not get too slippery when it gets wet. But it is advisable that one chooses slip-resistant surface in ceramic tiles for bathroom safety.
Another great option for bathroom flooring is bamboo flooring that does not require much maintenance. If you do not wish to spend more money in bathroom flooring but simultaneously want to create a dream bathroom, you can opt for unglazed tile, but they need much maintenance and need to be cleaned frequently.
Bathroom floor tiles come in square, rectangular, hexagonal and octagonal shapes, while accent tiles are generally diamond shaped and come in smaller sizes. For giving larger look to a bathroom, use same colour tiles on floor and walls. Tiles that are too large look ridiculous in small bathrooms, and preferably, one must use smallersized tiles with small designs for bathrooms with limited space.
Use of two different colours of tiles is another great option. On the floor choose the tiles in one colour while choose another colour on the walls and thus give a dramatic look to your bathroom. Tiles of all colours normally go well with white colour as their contrasting colour. For giving warm and cozy look to the bathroom, use tiles of yellow, light orange and peach colour. Bold colours lend a contemporary look to the bathroom, while floral tiles on walls with soft pink or light green colors bespeak a Victorian style. For those with a partiality for the Mediterranean look, hand painted tiles interspersed with terracotta tiles fit the bill.
For spa-like bathrooms use tiles in cool blue colours. To make the bathroom look larger, use tiles in light shades like bone, white and neutral. But if you want to use bright-shade tiles in a smaller bathroom, use them only as highlighting tiles. You may install floor-heating system such as electric floor heating to warm the surface of cold tiles.
