Property & Wealth Sep 2012 Issue

News Desk 13

Hot Spots 17

CREDAI Real Estate

Awards 2012 26

Homebuyers Throng Best

Time Property Expo 30

Relief from Parking Woes 32

Realty Check For India’s Retail Real Estate Sector 36 Global Retail Banking Study 38

Realty Strokes 41

What Does ‘Quality

Construction’ Really Mean? 42

A Note On The Regularisation

Of Delhi’s Illegal Colonies 44

Happy Entrepreneurship 46

Competition at the

Workplace 48

Quote Magic 50

Keeping the traffic forecast in mind,

the Chandigarh Metro Rail Project is

planned to cater to the needs of about 3

lakh riders initially which will gradually

be strengthened so as to serve the

residents of the Tri-city as one of the

major modes of public transport

13

36

08contents September 2012

PROPERTY & WEALTH VOL 2, SEPTEMBER 2012, ISSUE 0104

property watch

METRO TICKETChandigarh Metro Rail By 2018

earn

COVER STORY

Good Old Fixed Deposits! 52

The Magic of Compound Interest 54

Planetsavers 56

52save

Publisher & Editor-in-ChiefJasmeet [email protected]

Editor Pankaj Sharma [email protected]

Feature Writers Satpal Kataria, K.Singh, Rupinder PD, Sheetal Singh

Art Director Rajesh Kumar

Graphics TeamGagan, 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

Printed & Published by Sh. Jasmeet Singh at Plot No. 437-A, Industrial Area Phase-2, Chandigarh.Owned by Sh. Jasmeet Singh,220, Sector 19-A, Chandigarh & Printed at Savitar Press, Plot No. 820, Ind. Area Ph-2, Chandigarh.

CONTRIBUTORS AND ASSOCIATES

Be a Prosperity Seeker 58

Bookshelf 60

Eye-Catchers 61

5864

contentsSeptember 2012

live inspired

soft corner

05PROPERTY & WEALTH VOL 2, SEPTEMBER 2012, ISSUE 01

editorial

about this issue

India’s first rapid railway transit system opened commercial

services in 1984 in Calcutta (now Kolkata). With the

opening of the Kolkata Metro, India became the fifth

country in Asia and the 82nd in the world to possess the

prestigious Underground Railways System. Closer home,

the first Delhi Metro train was flagged off in 2002. As of

now, Metro projects are in varying stages of completion in

major cities like Mumbai, Bangalore, Hyderabad, Chennai,

Cochin and other cities.

A close friend just got back from a business trip to Dubai.

Excited about his trip, he showed us a lot of photographs

from the trip. He was all praise about the extraordinary

level of comfort the people of Dubai have managed to

achieve, despite apparent shortcomings of a particularly

hard terrain. And in particular, he didn’t stop raving about

their fantastic metro railway system. Dubai inaugurated

its metro network in Sep 2009, becoming the first urban

metro network to run in the Gulf’s Arab states. It is the

Middle East’s first driverless, fully automated mass-transit

system. In fact, Guinness World Records has declared

Dubai Metro as world’s longest fully automated metro

network spanning 75 km.

Like our fellow-citizens, we too are excited with the prospect

of commuting by Metro Rail from one end of Chandigarh

to the next. They say all good things don’t come without

their quota of difficulties or problems. Residents of the

Tricity must prepare to deal with a lot of excavation and

construction work happening in the region for a period of

five years (and that is a statement full of hope)! After all,

it might be difficult for us to beat the Dubai Metro System,

but haven’t you heard, TEDHA HAI PAR MERA HAI!

Waiting for Trains

Jasmeet Dhamija Editor-in-Chief

As the Tricity prepares to upgrade its public transport

system by installing Metro Rail Services by 2018, one is

reminded of the flagging off ceremony of neighbouring

National Capital’s much-awaited Delhi Metro train. It was

on Dec 24, 2002 that the then PM, Shri A.B. Vajpayee did

the honours. Residents of Chandigarh and surrounding

areas look forward to an improved version of the modern

public transport system. We take a look at the current

administrative plans regarding the dream mega-project in

our Cover Story this month.

There is another good thing lined up for residents of

Chandigarh. In view of the rising vehicular density of the

city, the proposed multi-level parking facility in Sector 17

is eagerly awaited. In fact, authorities have short-listed

the construction firm for the project and work is likely to

commence in September this year.

Around 40 lakh residents living in illegal colonies in Delhi

are likely to benefit from the regularisation drive which is

a hot topic in the Capital nowadays. In a special article

sent to us on the subject by Mr Santhosh Kumar, Jones

Lang LaSalle India, he describes the hurdles which the

authorities as well as residents of the affected colonies

would have to confront.

What does it take to be a happy entrepreneur? There can’t

possibly be any fixed rules in the world of entrepreneurship.

We would like to call it a creative process. But still, a

couple of guidelines on the topic may just come in handy,

especially for beginners. Also, in this issue, check out

varied articles regarding competition at the workplace,

fixed deposits and other topics plus, of course, the regular

monthly features.

Pankaj SharmaEditor


Cover Story

08

CHANDIGARH METRO RAIL BY 2018

A total of 37.573 km metro rail project has been proposed, including 23.468 km elevated and 14.105 km underground in the first phase

METRO TICKET

A cherished dream of Chandigarhians for a

long time, the detailed report of Chandigarh

Rail Metro Project was recently presented

to Punjab governor and UT administrator

Shivraj Patil by a team of officials from Delhi

Metro Rail Corporation (DMRC). The 37 km long project

is estimated to cost around Rs. 10,900 cr. The DMRC

team, headed by its Managing Director Mr. Mangu Singh,

also presented the copies of the Detailed Project Report

(DPR) to the Punjab Chief Secretary and Director Town

Planning Haryana for the Chief Ministers of the respective

states.

Project Highlights

In total, about 30 stations have been earmarked in the

project, each at an average distance of 1.210 km on

the North-South corridor and at an average distance of

1.206 km on the East-West corridor. Keeping the traffic

forecast in mind, the project is planned to cater to the

needs of about 3 lakh riders initially which will gradually

be strengthened so as to serve the residents of the Tri-city

as one of the major modes of public transport.

A total of 37.573 km metro rail project has been proposed,

including 23.468 km elevated and 14.105 km underground

in the first phase. The proposed north-south corridor in

Chandigarh will comprise 8.04 km underground and

4.43 km elevated track and the east-west corridor has

a proposed length of

6.04 km underground

track and 19.04 km of

elevated track. Punjab

will have a total track

length of 7.8 km and

Haryana will have a total

track length of 6.41 km

running through its

territory. Chandigarh

residents can refer

appended route map

to know the nearest

proposed metro station to where they live.

The proposed north-south corridor (Corridor-I) will

commence from Capitol Complex to culminate at

Gurudwara Singh Shaheeda via Sector 9, ISBT-17, Aroma

Chowk, Sector -34, Sector 43 ISBT, Sector 52, Sector 62,

Sector 70. The north-south Corridor will have 4 elevated

and 6 underground Metro stations. The proposed East-

West Corridor (Corridor II) will begin from Grain Market

near Sector 21 Panchkula and will reach up to Transport

Terminal via Raili village, Bus stand, City Centre, HUDA

office Complex, MDC Panchkula, Housing Board Chowk,

Railway Station, Timber Market, Sector 26, Sector 7,

Sector 9, GMSH-16, PGIMER, Khuda Lahora, Sarangpur,

Mullanpur, Air Force Station. The east-west corridor will


09

have 15 elevated and 5 underground metro stations.

Prepare to Bear

No free lunches in this world and though nothing has

been finalised as yet, the Metro rail project for the Tricity

is likely to put an extra burden on tax-payers in the city.

As per the detailed Metro project (DPR) submitted by

Delhi Metro Rail Corporation (DMRC), residents of the

Tricity may have to bear the funding and running cost of

Metro rail project. In the DPR of Tricity metro, DMRC

has proposed to levy metro cess on the sale of petrol and

diesel in the city for the funding of the project.

Out of the total project cost (inclusive of land cost) estimated

at Rs 10,900 crore in the first phase, the development of

Metro project in Chandigarh portion is estimated to cost

Rs 8245 crore, Rs 1,427 crore in Punjab portion and Rs

1,228 crore in Haryana portion. Apparently, generating

funds for the ambitious project would be an easy for the

UT Administration. According to DMRC, metro cess on

the sale of petrol and diesel in the city could be tapped

for raising funds for metro project. If the same is imposed,

the citizens would have to pay more for petrol and diesel

in Chandigarh.

In addition to that, the DMRC has also proposed to levy

green tax on the existing vehicles in the city. At present,

the city has nearly 10 lakh vehicles registered with the UT

The Chandigarh Metro Rail system will have state-of-the-art information and telecommunication system for the benefit of commuters at the stations and inside the trains


Registering and Licensing Authority (RLA). The vehicles

include a large number of two wheelers, including

motorcycles, scooters and four wheelers. Levying

additional charges on new registration of vehicles in the

city has also been proposed by the DMRC. Imposing tax

on the commercial vehicles entering Chandigarh urban

area has been suggested by the Corporation to generate

funds for the metro project.

Environmental Concern

Definitely a dream project of the UT Administration, a

lot of plans and facts are being taken into consideration

before going forward and laying the foundation of the rapid

transportation system for the Tricity. An alarming number

of 2,968 trees which fall inside the proposed route of the

metro would have to be cut down in order to proceed with

the construction. It is estimated that this number of trees

absorb 5.19 lakh kilograms of carbon dioxide a year. It

would not be easy to compensate the damage done by

the destruction of the trees but I guess what cannot be

cured, must be endured. After all, the population keeps

expanding at the seams and there has always been a lack

of public transport.

India’s Need of the Hour

The importance of public transport in this era of

urbanisation cannot be over-emphasised. As of now, the

facilities available at present in most cities of the country

are rudimentary, mostly run by private enterprises. Due to

its large carrying capacity, Metro rail system proves to be

energy-efficient. It is estimated that the cost of carrying

a passenger per kilometre in a metro system is one-sixth

or one-fifth the cost of a road transport system. A rail-

based system proves to be faster, more viable, safe and

comfortable.

Today, there are 19 cities in the country with more than

two million people, 14 cities with three million people,

and seven cities with more than five million population.

A committee on urban transport set up for the twelfth

five-year by the Planning Commission has proposed that

all cities with five million populations should get a metro

immediately. Fortunately, that has started everywhere,

except in Ahmedabad, where things are still in the DPR

stage. Delhi has completed its project. Bangalore has

opened a section. Work is on in Chennai, Kolkata and

Mumbai. Cities with a population of three million and

above are also in line. For cities with two million people,

10

Since its inception, Sheikh Mohammed, PM and Vice President of the UAE, aimed to make the Dubai Metro the best in the world


the committee has projected an additional two years for

the work. Closer home, the Punjab Govt. has put the

Ludhiana Metro Project on the ‘fast track’, the Rs. 10,300

crore project is expected to be completed in a time period

of five years.

One of the most common questions which arise in this

scenario is whether less populous cities should all have

metro or rail-based systems as the backbone of their

public transport. But the fact is that we still need road-

based bus feeder and complementary systems and that

is unavoidable.

Some Reasons to Cheer the Metro Project:

• Metro will save 80% time of the people which they

spent in travelling.

• If people will use metro more instead of personal

vehicles then it will save them around 60% of diesel/

petrol.

• The administration will save 80% of money which it

spends on maintenance of roads.

• It will give employment to 1700 people initially.

11

STATIONS ON EAST-WEST CORRIDOR

1. Transport terminal, near Radha Soami Satsang Beas land2. Near Air Force base3. Mullanpur, near GMADA housing scheme4. Sarangpur, near Westend Education Park5. Khuda Lahora6. PGI7. General Hospital (intersection of Madhya Marg and Udyan Path)8. Matka Chowk9. Sector 7-18 junction10. Sector 26-27 junction11. Timber market12. Chandigarh railway station13. Housing Board Chowk14. Mansa Devi Complex, Panchkula15. HUDA Office Complex, Panchkula16. City Centre, Panchkula17. Panchkula Bus Stand18. Sector 14 District Centre, Panchkula19. Raili Village20. Grain Market, Panchkula

(Stations from PGI to Timber Market will be underground)

STATIONS ON NORTH-WEST CORRIDOR

21. High Court22. Matka Chowk23. Sector 17 football ground24. Aroma Chowk25. Sector 3426. ISBT-4327. Sector 5228. Sector 62 near Gurdwara Amb Sahib29. Sector 70 (between market and adjoining ` residential area in Sector 69)30. Gurdwara Singh Shahaeedan, SAS Nagar

(Stations from High Court to ISBT-43 will be underground)

KEY FEATURES OF PROPOSED CHANDIGARH METRO

Passenger announcement systemThe system will be used for transmitting messages from the operational control center and the local stations. Announcements from stations will override those from the control center in case of an emergency.

Train destination indicator systemLED/LCD based boards with adequate visibility at convenient locations in all stations to provide bilingual visual indication of status of running trains.

Centralised control systemIt will provide accurate time through a synchronization system of clocks driven from a master clock fed from a global positioning system placed at the operation control room. The system will ensure identical display of time at all locations.

Passenger information display systemThe displays will be located at convenient locations at all the stations to provide bilingual visual indications of the status of the running trains and will typically indicate information such as destination, arrival/departure time and also special messages in emergencies. The boards will be provided at all platforms and concourse of all stations. The system will be integrated with passenger announcement system.

CCTV systemIt will provide video surveillance and recording for each system. The system will have a mix of fixed cameras and pan/tilt/zoom (PTZ) cameras. These will be located at areas where monitoring for security, safety and crowd control is necessary.

Train radio systemDigital train radio (TETRA) communication between motorman of moving cars, stations, maintenance personnel and central control.

Train protection systemUsing, automatic train protection system, movement of all trains to be logged on to central computer.


GET A REAL HOLIDAY, CALL US ON

T H E T R A V E L C O M P A N Y

traveleela

newsdeskREAL ESTATE & INFRASTRUCTURE NEWS

14

regional

With the number of vehicles rising

consistently and the Chandigarh

Municipal Corporation failing to

provide adequate parking facilities

to commuters, now after Sector 17,

the need for a multi-level parking lot

is being felt in the commercial areas

of Sectors 22 and 35. In a detailed

letter to the Municipal Commissioner,

the SP (Traffic) in a has requested

the civic body to explore the feasibility

of construction of multi-level parking

lots in these two sectors in the central

and southern part of the city.

As a new initiative, the Punjab

Govt. has set up a State Urban

Development Mission which is an

overarching body to direct policy

and programme formulation for the

holistic development in the state for

full coverage of all basic amenities,

recognising specificities of all cities.

The State Govt. would spend Rs.

8,635 cr to provide 100% basisc

amenities in terms of water supply

and sewerage.

The much awaited action in the

infamous booth allotment scam,

which had rocked the city about

two years ago, may finally come

through, with at least half a dozen

allotees set to face the music. With

the three-member probe committee

recently submitting its inquiry report

and recommending action against

Complaints regarding flats allotted

under the 2010 housing scheme are

pouring in from across the Capital

about unfinished and unlivable flats.

Though DDA officially maintains that

only 700 flats remain to be done,

in Ganga block of Vasant Kunj D-6

and Dwarka’s sector 18-B, allottees

of many other areas are complaining

that work is yet to be completed in

their flats too.

Times Property Expo 2012Venue: Epicentre Date: 28th Sep to 30th Sep 2012

Real Estate Banking & Finance ExpoVenue: Grounds Opp M/s Vardhman Date: 19th Oct to 21st Oct 2012

Multi-Level Parking

State Urban Development Mission

Booth Scam

Complaints regarding flats

forthcoming events

Chandigarh

Chandigarh

Chandigarh

New Delhi

Mining

Municipal Corporation

Haryana

Gurgaon

Nearly 20 months after the Supreme

Court ruling that suspended mining

in the Aravalis, the Haryana Govt.

has drawn up a fresh plan to revive

mining in the crucial mountain

range. In fact, the Govt. has already

identified 609 hectares for mining.

The mayor and other senior MCG

(Municipal Corporation Gurgaon)

officials have finally decided on a site

for the new MCG office. A 4.5-acre

vacant land near the bus terminal in

the old city has been earmarked for

the MCG office.

Ludhiana Gurgaon

newsdesk

half a dozen allotments which have

been found in violation of the terms

and conditions laid down for these

allotments.


national

15

Though it was due for a long time to

owners of 87 acres of land acquired

by Tata Motors, the cabinet recently

approved Rs 2 lakh per acre to land

losers in Dharwad, Chief Minister

Jagadish Shettar’s home district.

Tata Motors has agreed to pay an

additional Rs. 1.76 cr towards the

ex-gratia amount.

Builders and real estate contractors

feel that lack of adequate labour

force would have a detrimental effect

on the construction industry due to

the recent exodus of labourers from

the northeast from Chennai. Since

most of the labourers who come from

northeast are unskilled labourers,

labour sub-contractors engage them

at a salary much lower than local

workers.

Times Property Expo 2012Venue: Hotel Lalit AshokDate: 06th to 07th October 2012

GIHED Property Show 2012Venue: Gujarat University Exhibition Date: 12th to 14th October 2012

A Mumbai-based NGO has sought

demolition of a 52-storey building

in Central Mumbai for “blatant”

irregularities accusing Brihanmumbai

Municipal Corporation of showing

undue favours to the developer.

Janhit Manch, the NGO, has filed

a PIL alleging irregularities in the

construction of `Palais Royale’ in

Worli, which would be the tallest

building in the metropolis after

completion.

Ex-Gratia

NE Exodus

forthcoming events

Bangalore

Justice Reddy of the High Court

has directed the District Collector

of Chittoor to instruct tehsildars to

earmark 1% of the total land in a

village or 10 acres of land for grazing

and plantation purposes.

The West Bengal Pollution Control

Board (WBPCB) has come down

heavily on errant industrial houses

in and around Kolkata and issued

closure notices to 18 such units

for flouting pollution control norms.

Four units have been slapped with

closure orders this month itself.

The authorities took notice of these

Plantation

Water Pollution

Hyderabad

Kolkata

Chennai

Building DemolitionMumbai

The Maval SDO has passed an

order asking the Lavasa Corporation

Limited to pay an additional Rs 25

crore nazrana for nearly 485 acres

(194 hectares) of land, that had been

originally given to landless persons

under the Maharashtra Agricultural

Lands Act, 1961, acquired for its hill

city project.

Lavasa CorpPune

AhmedabadBengaluru

factories after receiving complaints

from locals. The units were polluting

the surroundings by emitting

obnoxious smells and harmful

gases.

newsdesk


16

international

The Diedo Palace in Venice is

just one of hundreds of historical

properties up for sale across Italy as

the government tries to reduce the

country’s deficit. The move, hoped

to raise €1.5 billion for the economy,

has listed barracks, fortresses and

royal residences on the market,

alongside a castle built by the pope

in the 1270s

Royal Isabela, the $100 million golf

community and private membership

club in Costa Isabela at the northwest

edge of Puerto Rico, has opened “Las

Casitas,” reserved for guest stays,

and “La Casa,” the main hospitality

center that houses the property’s

signature restaurant. Located 90

minutes from San Juan International

Airport and just 20 minutes from

Aguadilla International Airport, the

Royal Isabela community stretches

along 426 oceanfront acres from

ocean side to the tops of cliffs that

range in elevation from 150 to 350

feet above sea level.

Solar energy has been around for

years. But one house in Barcelona

has taken it in a surprising new

direction. Solar House 2.0, built this

year on the city’s waterfront, uses

the time-tested green energy but

combines with it modern technology

to create something unique: a 3D-

printed, solar-optimised building.

Mathematically adjusted and pre-

fabricated on computer before being

assembled on the site, the house was

built in just two weeks. And the most

revolutionary part? If you want to

print your own home, the Barcelona

building plans are open source and

available to anyone for free.

Soopy Abdulla, the lucky winner of the

Al Jimi Mall Shop & Win promotion

was officially awarded his prize today

at a special media event which was

held at the mall. He was was very Buyers from Indonesia, China and

India are boosting demand for private

Rumah 123 Property FairVenue: Mall Ciputra Date: 08th Oct to 14th Oct 2012

The Property ShowVenue: Hyatt RegencyDate: 27th Oct 2012

Heritage on Sale

Las Casitas

Solar House 2.0

Lamborghini Prize

forthcoming events

Italy

Puerto Rico

Barcelona

Abu Dhabi

Indian BuyersSingapore

TorontoWest Jakarta

residential properties in Singapore.

The latest figures from the Urban

Redevelopment Authority (URA)

show that sales, excluding Executive

Condominiums, soared in July 2012

and was up almost 42% compared

with the previous month. Three out

of the top four best selling projects

were located in the suburban areas.

newsdesk

excited as he was handed over the

keys to the legendary Lamborghini

Gallardo LP550-2 by Mohammed Al

Zaabi Head of Property and Facilities

Management at Aldar Properties.


hot spotsCHANDIGARH CAPITAL REGION PROJECTS

1. Zirakpur R Zone 1

2. Zirakpur R Zone 2

3. Mullanpur - New Chandigarh

4. Kansal

5. Aerocity

6. Mixed Land Use & Industrial Sectors 82, 66, 66A

7. Landran - Banur Road (Right Side)

8. Landran - Banur Road (Left Side)

9. Kharar Landran - Road

10. Balongi - Kharar Road

Disc

laim

er: M

ap is

not

to s

cale

and

pur

ely

for

illus

trat

ive

purp

ose.

Acc

urac

y of

the

map

is n

ot g

uara

ntee

d.

HOT SPOT IN FOCUS

20

Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.


Location: VIP Road (near Penta Homes), Ambala-Chandigarh Highway, ZirakpurHighlights: - Modular Kitchen with

Chimney - Free Car Parking

- 2 AC’s - Texture Paint on 3 Walls

- Water Purifier

Options: 2BHK (1150sqft)

IndependentYds.

Kiran Apartment

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.

Possession in November 2012

Location: VIP Road, ZirakpurHighlights: Choice of 2/3 premium apartments and penthouses characterised by Singapore architectural collabration. Recreational Club with Swimming PoolOptions: 2/3 BHK, Penthouses

Jaipuria’s Sunrise Greens

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space

Location: VIP Road ZirakpurHighlights: Surrounded by lush green gardens. Club house having facilities as swimming pool, table tennis, library, yoga centreOptions: 3BHK, Penthouse

Maya Garden Phase-3

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Zigma Wealth: 8146992437

HOT SPOT IN FOCUS - MULLANPUR NEW CHANDIGARH


21


Location: VIP Road ZirakpurHighlights: •Club house complete with all recreational and leisure facilities•Covered car parking•Provision for piped LPG supplyOptions: 2BHK, 3BHK, 4BHK, 5BHK Penthouse

Pearls Nirmal Chhaya

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Ready to move in

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

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

0 10 20 30 40 50 60 70 80 90 100 150 >200


22

HOT SPOT IN FOCUS Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.


23



HOT SPOT IN FOCUS - ZIRAKPUR R ZONE 1


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


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, apartments and plush condominiums

Wave Estate

BudgetPlanner

BudgetPlanner

in lakh


Location: Sector 104, Pearl City, Mohali (PB)Highlights: Balcony Gardens, Guest Rooms, Creche & Child Care Centre, 3 Tier Security, Club houseOptions: 4 BHK apartments, Penthouse with splendorous balcony gardens

Taj Tower

BudgetPlanner

BudgetPlanner

in lakh

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

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

Location: Sector 97 Mohali,Highlights: Assured Return Plan- 5 Screen Multiplex- Family Entertainment Center- Surface + 2 level basement parking- Centralized Air-conditioningOptions: Office space, Retail Space, Food Court

Unitech Down Town Business Centre

BudgetPlanner

BudgetPlanner

in lakh



0 10 20 30 40 50 60 70 80 90 100 150 >2000 10 20 30 40 50 60 70 80 90 100 150 >200

0 10 20 30 40 50 60 70 80 90 100 150 >2000 10 20 30 40 50 60 70 80 90 100 150 >200

0 10 20 30 40 50 60 70 80 90 100 150 >2000 10 20 30 40 50 60 70 80 90 100 150 >200


WEEKEND/HOLIDAY HOMES

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

BudgetPlanner

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

BudgetPlanner

BudgetPlanner

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

BudgetPlanner

BudgetPlanner

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

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Kais Village, KulluHighlights: First of its kind group housing in HP, Unique terraced landscaping all around.Options: Exclusive low rise designer apartments and Luxurious villas

Kaisville

BudgetPlanner

BudgetPlanner

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

24


Sales Organisers/Dealers: Call 9216841278 to Advertise in this space Zigma Wealth: 8146992437

Sales Organisers/Dealers: Call 9872635220 to Advertise in this space Mega Marketing: 9815740230

SS Associates: 9876500036 Call 9815601347


Glamour Meets Realty

CREDAI Real Estate Awards 2012Grand Hyatt, Mumbai

11 Aug 2012

27

The CREDAI Real Estate Awards 2012 held in Grand

Hyatt, Mumbai was graced by leading celebrities of the

film industry. The ‘Brigade Group’ bagged two prestigious

awards of the real estate industry and were declared

winners of the CREDAI Real Estate Awards 2012. The

Brigade Group took away ‘The Best theme based township’

award for the Brigade Gateway and ‘The best commercial

office space of the year’ award for the World Trade Center

in the CREDAI Real Estate Awards 2012.

It was a star-studded evening as celebrities Kareena

Kapoor , Malaika Arora, Neha Dhupia and Sameera

Reddy performed at the awards ceremony. Boman Irani

and Ayushmann Khurana were the hosts of the show.

The ESSGEE Real Estate Developer’s ‘UMAID

Heritage(Jodhpur)‘ won the award for the Best Innovative

Structure. S2 Realty’s ‘Anandgram (Yavat)’ won the award

for Best Low Cost Residential Apartment in Non-Metros.

Sobha Developers ‘Sobha Adamus’ won the award under

the category of Best Individual Dwelling (Row Houses).

Lakshachandi Developers won the award under the

category of Best Apartment(Lifestyle). ALM Infotech

Private Ltd. won the award for the Best Shopping Mall.

Other noteworthy winners of the CREDAI Real Estate

awards 2012 include Ganesh Housing Corporation, Asvini

Foundation, Marathon Realty, Skyline Builders, Rajhans

Construction Pvt. Ltd,City Corporation Ltd, Satyam Gokul

Corporation, Ideal Real Estates Private Ltd, Vascon

Engineers Ltd. and Ashiana Housing Ltd.


Chairman - Events & Awards Committee, Mr Jaxay Shah; President CREDAI Mr Lalit Jain and Hon. TreasurerMr Shekhar G. Patel at the awards ceremony

HOMEBUYERS THRONG BEST TIME PROPERTY EXPO

The two day long Property Expo held at Hotel Shivalik

View, Chandigarh from 4th August to 5th Aug, 2012

received an overwhelming response from prospective

buyers and investors who thronged the venue to gather

information on the property markets of Chandigarh,

Mohali, Zirakpur, Gurgaon, Delhi, Noida, Shimla, Jaipur

and other cities. The Expo had a number of reputed

builders participating. Ansal API, Ansal Housing, Ansal

Buildwell, Spaze, Anand Ultima, Dream Value, New York

Residency, Mega Marketing, Hollywood Heights, Artha

Money, Mahalaxmi Groups, Canfin Homes, Karshni and

Prop Invest showcased more than 60 projects.

Testimonials

Vikas Wahi, MD, Prithvi Infradevelopers Pvt.Ltd., New Delhi

We are pleased to convey our thanks for the opportunity

to represent our Company in such a prestigious property

show. We wish to place on record the cordiality and services

accorded to us during the tenure of the Exhibition. It was

a clientele that we got the chance to interact with, from

the elite class of society, which is possible only through

participation in such property exhibitions. We look forward

to be a part of more such occasions to participate in the

future.

Ankur Gupta, Manager Marketing, Ansal Housing

We are pleased with the overall response we got at

Property Expo. We got some quality leads and hope to

close them soon.

Rohit Tiwari, Managing Director, Dream Value Developers

Pvt. Ltd.

It was really good experience of property expo in

Chandigarh & Ludhiana with Fidele exhibitions & events.

Company managed expo very well. We got very good

response in our both our projects.

A huge gathering of visitors from different walks of life flocked to various counters and stalls at the event, each of which had something unique to offer

The Expo had a number of reputed builders who showcased more than 60 Real Estate projects

30

As per a survey carried out by Rail India Technical

and Economic Services (RITES), against the need

for 10,074 equivalent car space (ECS) in Sector

17, only 6,658 ECS exists. In other words, with

the phenomenal rise in automobiles in Chandigarh, parking

woes in Sector 17 and other prominent areas in the City

have escalated over the years. And finally, after a long wait,

the Municipal Corporation has short-listed a company for

the proposed multi-level parking project at existing Gurdev

parking lot in Sector 17. In the final bidding held on August

14, the MC short-listed one firm out of the six companies and

according to sources, the bid of M/S Gautam Builders was

the lowest.

Estimated at a total cost of Rs 46 crores, work on the project

is slated to begin in the second week of September 2012

and will be completed in the next 18 months. It will be a

three-storeyed parking with basement and surface parking

that will accommodate 950 cars. The proposal for the multi-

level parking lot at this site was mooted two years back and

the general house of the MC approved it on March 30. It

was decided that the construction would be done by the

Municipal Corporation.

The first multi-level parking lot that had been proposed by the

MC in Sector 17 could never take off and it is under arbitration.

Having been approved in 2007, the parking lot kept getting

delayed after hitting several roadblocks. The project finally

went into arbitration and the site could not be used till the

issue was resolved. After that the multi-level parking lot at a

new site was proposed.

Relief from Parking WoesCity’s Residents Look Forward to Multi-Level Parking

With Chandigarh Municipal Corporation failing to provide

adequate parking facilities to commuters in the light of

rising number of vehicles in the City, the need for similar

multi-level projects is also being felt in the commercial

areas of Sectors 22 and 35. In a detailed letter to the

Municipal Commissioner, the SP(Traffic) has requested

the civic body to explore the feasibility of construction of


31

multi-level parking lots in these two sectors in the central

and southern parts of the city. It is apparently for the

first time that UT’s traffic police have asked the Municipal

Corporation to look at the possibility of constructing a

multi-level parking lot in any of the sectors in the city. It

has been seen that since both these sectors have several

educational institutions apart from huge commercial

areas, the parking spaces available are far from adequate.

Consequently, management of traffic in these areas has

become a daunting task.

An ideal solution for today’s traffic problems, multi-level parking is gradually coming up many major cities in the country


36

Subash Bhola, Senior Manager - Research, Jones Lang LaSalle India

Realty Check for

India’s RetailReal Estate Sector


So far, 2012 has been a challenging year for

most of the key sectors of the Indian economy

- the retail real estate sector has not been

an exception. The demand in terms of net

absorption has remained subdued in 1H12

amid careful expansion by retailers.

In 1H12, net absorption of retail space fell by 57% from

the levels seen in 1H11. The watchful stance by retailers,

coupled with the lack of quality malls and the fact that

some select quality projects postponed construction, were

the main causes for the sluggish absorption.

In the past six months, only 2.3 million sq ft of operational

retail space has been added to the market across the top-

seven cities of India. On the back of this small supply, the

overall vacancy rate declined to 18.8% at end-2Q12 - a

drop of 140 bps from 4Q11. Because of the uncertain

economic climate and weaker business sentiment,

developers have been and continue to be cautious about

new mall launches.

In 1H12, 22% of the total retail supply for 2012 became

operational, with the remaining supply in advanced

stages of construction and 51% of it ready for fit-out. As

compared to other cities, Kolkata and Pune have higher

pre-commitments in projects that are ready for fit-out and

expected to commence operation in 2H12, with large

spaces signed by anchor retailers and large-format stores

in these cities. About 32% of the retail space expected to

become operational in 2H12 is in the ‘50-100% structure

ready’ stage.

In accordance with the preference of retailers, most of

the recent absorption is skewed towards malls with better

quality. This trend is largely prevalent in major Tier I cities

such as Mumbai and NCR-Delhi. At end-2Q12, NCR-

Delhi and Mumbai together accounted for 64% of the

total retail space in India, housing 149 of the 240 malls

currently operational in the country’s top-seven cities.

A modest increase of 1-2% in rents was recorded in

select cities such as Mumbai, Chennai, Pune and Kolkata

in 2Q12, while rents in other cities remained stable at

the levels seen in 1Q12. Of the top-seven cities, Pune

saw the highest increase in rents - up by 1.6% - while

Mumbai and Chennai each saw a rise of 1.0%. At 1.3%,

the growth in Kolkata’s rents was moderate compared to

the previous quarter’s sharp rise of 3.5%.

Persistently high core inflation and lower GDP growth

forecasts for FY 2012-13 are likely to moderate consumer

spending over the coming quarters. The absorption rate is

predicted to moderate to 27% by end-2012, falling from

the 41% figure recorded in 2011. This is due to subdued

absorption in 1H12 and a low level of pre-commitment in

the malls expected to commence operations in 2H12.

Because of to the limited availability of new malls and the

low vacancy rates in the existing prime malls, retailers

in cities such as Hyderabad, Chennai and Bangalore

continue to actively lease space on high streets. A policy

change could be a significant boost for absorption, and

therefore supply; however, it is uncertain when India’s

Government will allow FDI in multi-brand retail.

A new retail report released today by Jones Lang

LaSalle emphasises that changes across the

global retail banking environment continue

to be driven by political, economic and

technological trends. These trends will lead to continued

bank expansion in frontier markets, offsetting the search

for greater efficiency in developed markets.

The report, entitled Global Retail Banking: key trends for

retail real estate, identifies that changes in global retail

banking will be fuelled by increasing customer demand for

innovation, flexible service capability and banks actively

managing their brand’s presence in a retail environment.

These drivers will result in retail banks making substantial

changes to their established branch networks in developed

markets. As a result, Jones Lang LaSalle predict that as

much as 50% of existing retail bank branches in the

developed world will be obsolete by 2020, as banks assess

their space requirements. However, this decline will be

offset by increased numbers of retail bank branches in

developing countries such as Brazil, China and India.

Iain Mackenzie, Head of Jones Lang LaSalle’s Banking

Industry Group in Asia Pacific said:

Global Retail Banking Study by

Jones Lang LaSalle Tells a Tale of Two Worlds

New research predicts significant changes to global retail banking by 2020

38 PROPERTY & WEALTH VOL 2, SEPTEMBER 2012, ISSUE 01

“Asia Pacific is a region of contrast with mature markets

such as Australia and Japan sitting alongside developing

markets including Indonesia and China. The key to

success here will be to develop a far more customized

branch network able to service a customer base that

ranges from people still making physical cash deposits or

taking out $100 micro-loans, through to high-net-worth

individuals demanding personalized services and first-

class experience.

Technology is the game changer. For banks in developing

markets that are not as invested in legacy systems, there

is significant opportunity to bypass the large, expensive

and potentially obsolete physical branch networks and

explore alternative channels that are flexible, mobile and

tailored for their customers. This ability to customize and

the flexibility to bring innovations to market quickly may

provide many banks in this region with a competitive

advantage over their Western counterparts, similar to what

we have seen in the telecommunications industry.”

Robert Bonwell, CEO EMEA Retail, Jones Lang LaSalle

explained:

“The perfect storm facing the global banking industry

continues unabated. However, within the kaleidoscope of

increasing regulatory, legislative and legal scrutiny, retail

banks face the greatest opportunity of all retail sectors to

unlock the power of their real estate networks.

New retail formats and new technology offer diverse

options for those looking to drive efficiency of legacy

branch portfolios, enter new markets or increase their

competitive advantage. The challenge is to ensure that

accelerating retail bank real estate change remains a

priority and gets the attention it deserves.”

Anuj Puri, Chairman & Country Head, Jones Lang LaSalle

India, adds an India-specific viewpoint:

“Leasing in the Indian office space is dominated by three

industries – Information Technology (IT/ITES), Banking

Financial Services & Insurance (BFSI) and Manufacturing.

These sectors have contributed to over 75% of the leasing

transaction volumes across Indian cities since 2003. By

the nature of their business, banks need to occupy fairly

large floor-plates in central business district locations.

Thanks to their financial clout, multinational banks have

so far been able to achieve this objective in India. Some

of the largest real estate deals in the country have been

by banks. At the same time, there has been a constant

drive for consolidation, centralization and modernization

of facilities within bank’s premises.”

.

Key findings of the report include:

• Retail banks increased focus on ‘multi-channel’;

with banks focussed on getting the right physical

presence in the right place, supplemented by mobile

and internet banking services.

• Increased customer segmentation; focussing efforts

on which services to provide to whom, where and

how.

• Hi-tech experimental branches; with 24 hour access

to call centre staff through video conferencing and

other technological developments, and a move to

mimicking customer-centric retail environments.

• More attention to data storage requirements;

increased online and mobile transaction volumes

Mr. Rajesh Singla, Director, Universal Infrastructures, is a qualified Civil Engineer running his construction business for the past 20 years. The company has completed several mega projects including Thapar University at Dera Bassi, Shri Guru Granth Sahib World University at Fatehgarh Sahib, Rajiv Gandhi National University of Law at Patiala to name a few.

In an exclusive talk with Property & Wealth Magazine, Mr. Singla shares his vision about the company’s latest and ambitious venture ‘The Taj Towers’ located at Pearl City, Sector 104.

P&W: The Taj Towers’, the name itself sounds grand. What

prompted you to choose this name and how exactly do you

see it becoming grand?

RS: I wish to share that primarily our company is into

construction business. Hence we have the key advantage

of managing the quality as well as pace of construction.

‘The Taj Towers’ is a personal ambition and my company

will leave no stone unturned to make this actually grand.

We have done meticulous planning as regard layouts and

amenities. The 4BHK ultra luxurious apartments & pent

houses will have splendid balcony gardens and several

other unique features. We hope to live up to the expectations

of customers spending their hard earned money with us.

P&W: Can you share a few amenities that you have planned

at ‘The Taj Towers’?

RS: Since it is categorised as luxury apartments, we’ve

paid special attention to amenities in the project. We’ll be

providing under one roof, a host of amenities which would

cover almost everything a family needs. To be more specific,

the project includes turfed balcony gardens, crèche &

child care facilities, non-stop water & power supply, 3 tier

security, elderly care centre & nurse centre, guest rooms &

Club TAJ, 24 hour chemist & doctor on duty, entertainment

zone, restaurant, swimming pool, wi-fi facility, mini theatre,

fitness centre etc.

P&W: If we ask you to list the 3 best reasons to live at ‘The

Taj Tower’, what would they be?

RS: Well, if I have to count the 3 best reasons, I would

say, a) Location, as its on National Highway and having

connectivity with 200 ft wide road to Chandigarh, b)

Amenities that we are providing, which I have already

listed above c) an assurance for timely delivery. As you

can understand, being a construction company we are not

dependent on any third party sourcing for the construction

work and we already enjoy 2 decades of experience in the

construction business.

ViewsInterview/Opinions/Remarks

Realty Strokes

39PROPERTY & WEALTH VOL 1, MAY 2012, ISSUE 9

Today, one of the factors one looks for while

buying a home is quality construction. A home

buyer wants to ensure that the home will:

• Be safe and sound for its inhabitants

• Remain inhabitable for a maximum possible amount

of years

• Not develop problems over time

• Not entail huge repair and maintenance costs

• Have good resale value if one decides to sell it

These are aspects which are next to impossible to judge

when a residential project is new or only a couple of years

old. Naturally, most property developers will ensure that

everything looks ship-shape on the surface even if they

do not necessarily follow quality construction norms. Even

on the resale market, we will find that the current owners

of a resale flat will undertake cosmetic touch-ups to make

their home look as new and unflawed as possible.

Banks do only a cursory check on a project’s overall

construction quality while evaluating a home loan

proposal. It has become a common marketing practice for

developers to claim that their projects are of high-grade

construction. Those who do so without justification are

aware that most home buyers are not equipped to make a

value judgement on such claims.

Home buyers often select properties on the basis of

location advantages such as availability of public transport,

shopping and hospitals. In larger cities like Mumbai and

Delhi NCR, plots in such locations are quickly snapped

up by developers because they know that the location

itself will sell their projects. Because of this, they will often

develop these projects at the lowest possible cost because

their greatest

expense lies in

the purchase of

the plot.

The situation is

not as severe

in smaller cities

like Pune.

C o m m u t i n g

distances are

smaller, which

means that

home owners

manage to reach

w o r k p l a c e s ,

s h o p p i n g

outlets, healthcare facilities and places for family

entertainment faster. This is one of the primary reasons

why land costs - and therefore finished property costs

- in smaller cities are more rational. However, many

developers try to cut costs wherever possible, so there is

still a high incidence of inferior construction going on in

cities like Pune.

How To Judge Construction Quality

To begin with, a developer’s brand is a fairly good indicator.

Brand value has different meanings in different cities.

For instance, the most reputed developer brands in a

city like Mumbai also have the biggest price tags. Quality

construction in their projects is assured, but so are ruinous

property costs. In Pune, a developer’s brand evolves more

on a reputation for consistently high quality in offered

amenities and construction. Such a reputation spreads

quickly by word of mouth and becomes a benchmark for

42

What Does ‘Quality Construction’ Really Mean?


Kishor PateHon. Secretary, CREDAI (Maharashtra)

The average life-span of a project that has been built on quality construction parameters is around 80 years

their visual appeal but also prolongs the life of these

surfaces. If one finds that cheap paint has been used,

this is evidence that the developer does not feel that

investing in good paint makes sense because the surfaces

themselves are not made to last.

CONCRETE QUALITY

The quality of the concrete used in a building depends on

what grade of concrete has been used, what the concrete/

sand ratio is and whether the concrete was allowed to cure

for a sufficient amount of time. One rule of thumb is that it

should not be too easy to drive a nail into the walls.

OPEN AREAS AND LANDSCAPING

Though it may not be immediately obvious, the presence

of sufficient open areas and landscaping has a symbiotic

significance with relation to construction quality. The

availability of open areas implies that the builder has

not made filling every available square foot with sellable

construction, and that he intends to provide a wholesome

and pleasing experience to his customers. Similarly,

aesthetically done landscaping indicates that the buildings

in a project are built to last and deliver value for the longest

possible time.

The True Value Of Quality Construction

The average life-span of a project that has been built

on quality construction parameters is around 80 years.

After this period, a project will usually come up for

reconstruction. It should be remembered that the true

investment value of a residential unit such as a flat does

not actually lie in the flat itself, but in the flat owner’s share

of the land that the building occupies.

In other words, it is the undivided land portion of the

investment that one has made in a flat that amounts to

the actual value of one’s investment. However, in real

estate market terms, the longevity of a building is very

much linked to how much it will fetch on the resale

market, or how long an investor can derive rental income

from it. From the point of view of personal use of a flat for

occupancy, quality construction ensures that the owner

will incur much lower maintenance and repair costs and

enjoy its security and comfort for much longer.

overall value and quality.

Because their reputation for quality construction is

their primary ambassador in a very competitive market,

branded builders employ only trusted contractors and

ensure proper quality control throughout the construction

process.

In other words, a builder’s brand status in a city like Pune

is a reasonably good guideline to follow. This holds true

in new constructions by such a builder as well as resale

properties in his projects. The most important hallmark of

quality construction is that it endures.

There are various ways in which a home buyer can check

on the general quality of construction:

FOUNDATION

Patched cracks in a building’s exterior can be an indicator

that the project has a faulty foundation. Other signs to look

for are small cracks in walls of a flat, creaking or sticking

doors and windows and improperly aligned or uneven

floor, bathroom and kitchen tiles.

DESIGN

A quality construction project is designed in such a way

that the weight of the overall structure is evenly and

scientifically distributed. Also, a developer focused on

quality will not spare costs when it comes to providing

detailed finishing and intricate detailing, both in the

building’s common areas and within the residential units

themselves.

FIXTURES

Developers who pride themselves for quality construction

do not allow their contractors to use cheap taps, window

frames, door handles, electrical outlets and fittings.

Likewise, common facilities such as lifts will be by

established manufacturing brands and will be under a

maintenance contract by a reputed facilities management

agency. Any evidence of obscure, unfamiliar brands

should be viewed with suspicion.

PAINT

Cheap paint on walls and doors is easy to detect. Good

paint on walls and wooden surfaces not only enhances


44

Santhosh Kumar, CEO – Operations, Jones Lang LaSalle India

A Note On The Regularisation Of Delhi’s

Illegal Colonies


The Centre has responded positively to the

Delhi Government’s appeal to regularise more

than 1600 of the city’s unauthorised colonies.

However, the truth is that even after this

notification, the ground reality in that these colonies are

unlikely to change for now.

There are several hurdles on the road ahead:

Individual Rights: The residents there will still have to

await the declaration culminating in ownership rights

that will grant them the legal right to buy, sell and register

their properties, besides carrying out construction work at

these sites. Only colonies have been given a legal tag and

not the individual houses. Every house owner residing in

one of the unauthorized colonies will have to apply to the

respective corporation for getting the property registered.

People will have to get their building plans approved from

the civic agency.

Multi-Ownership: Considering that most of the houses in

these colonies are builder flats built on a single plot, there

is multi-ownership issue attached to these properties.

Presently, there is no policy under which such owners can

apply for having their houses regularised. A new policy

will have to be framed by the civic agencies and DDA.

Layout Plans: The Corporations will have to prepare the

layout plans wherein the basic facilities and infrastructure

that needs to be created will be earmarked.

Infrastructure: A number of colonies that were regularized

in 1977 are still in shambles, with basic infrastructure

such as sewage, parks, dispensaries and street lights

missing. The Government will have to ensure creation of

infrastructure to make the move meaningful.

Meanwhile, because of this move, it is expected that many

of the existing structures will go for redevelopment. Local

builders are likely to lead this trend. Getting fresh land will

prove to be a challenge, and this may prevent the entry

of new players.

Builders are expected to assemble and redevelop

structures in vertical fashions. Also, construction activities

are expected to pick up pace. This holds the potential for

increasing supply in the affordable housing segment. All

building activity in these colonies will remain a domain

of small-timer builders, at least in foreseeable future.

Housing options available in all such colonies are in

the highly affordable segment and will be attractive to

the large migrant population with limited budgets. Only

smaller players will have the motivation to capitalize on

the renewed interest by this category.

Currently, there is negligible infrastructure development

and no availability of basic amenities, resulting in demand

levels that are less than spectacular. That said, these

colonies have the most affordable housing options of all

available housing stock, and offer an opportunity to a large

migrant population in Delhi to fulfil their dream of owning

a house in Delhi. With the regularization move, that dream

has been given further impetus and will prompt many

builders to assemble and redevelop the structures to

further lure this population segment.

Though a lot of rental stock is already available in these

colonies, there is likely to be an overdrive in construction

as builders will try and lure buyers with the regularization

tag. Illegal constructions are learnt to have taken off in

many colonies ever since the news of regularization

were announced, as well. This will result in more units

being available for rent. Considering the current lack of

infrastructural development and civic amenities, demand

is not likely to gain any significant momentum. With

supply outpacing demand, moderation in rentals can be

expected.

With regards to the effect on adjacent authorized colonies,

it needs to be seen how seriously Government actions the

needed infrastructure for the regularised colonies. As

such, the surrounding colonies will be not immediately

impacted by this move. However, in the long run, prices

in all such colonies may rise, depending upon how the

infrastructure development paces up. With significant

infrastructural developments and other amenities making

inroads in all such colonies, all the adjacent authorized

colonies will also witness price appreciation and increased

rentals.


Happy Entrepreneurship


Owning your own business certainly has its

trying moments. For someone who’s taken the

leap from being employed to self-employed,

the numerous awkward moments like being

pulled up for being late or agonising over whether to stay

home with a sick child are things of the past. But the

challenges of being on their own and facing weird market

situations could bog anyone down. Unless, of course, the

new entrepreneur has learnt how to keep his cool under

all circumstances. For example, he could remember

having learnt how NOT to be the worst boss, having

observed his own boss in the past! They say being an

entrepreneur and being a happy entrepreneur are two

very different things. It’s true that some people are not

cut out to be entrepreneurs. And that’s certainly a good

thing because the business world would be chaotic with

everyone trying to do their own thing. But when you see

people whom you would call happy entrepreneurs, you

realise that there are certain characteristics which they

possess. Characteristics which sooner or later lead them

to success in their respective endeavours:

Visionary Leadership

An entrepreneur to be happy must enjoy being the

visionary leader. He is able to sit back and envision what

the business and the industry will be like in years to come.

That is a skill that can guarantee his staying power in the

business.

Risk Taking Ability

If someone has to really enjoy the ride in the challenging

world of entrepreneurship, one needs to inculcate a sense

of adventure, an ability to sustain oneself outside the

comfort zone. Be ready to enjoy the thrill of victory when

you surmount the risks you take.

Acceptance

It’s hard when it’s your business and your creation but

the quicker you learn not to take it personally, the more

successful you will be. No matter how great or valuable

your service or product may be, you’re bound to come

across people that will criticise you. That shouldn’t deter

you.

Patience

Starting out with a business of your own, you need to keep

reminding yourself that this is what you’ve chosen for the

rest of your life. When people seek financial freedom

and don’t get results immediately, they get disheartened.

Most successful entrepreneurs understand that there’s no

such thing as overnight success. Patience is an important

factor which can determine your success.

A Bit of Everything

Last but not the least, a happy entrepreneur is one who

can be a jack of all trades. When running a business,

you’ll be required to be doing a little bit of everything. You

need not be an expert at everything, which is close to

impossible. However, a general understanding of various

concepts related to your business should stand you in

good stead.

Don’t be discouraged if you don’t fit into everyone’s

personal view of how to be a happy entrepreneur. In fact,

winning businesses have been started by people of every

personality style. Yet overall, the facts remains that about

two-thirds of startups fail and thus it makes sense not to

ignore warning signs.

Competition at the Workplace


Working alone, away from the constant prying

eyes of our colleagues and supervisors,

we tend to lose our competitive edge. If

you’ve ever had the chance to work from

home for a period of time, you must have realised that

though teleworking does have its advantages, sometimes

the benefits of a regular workplace environment are sorely

missed.

Collaboration is the “in” word as far as modern

management consultancy is concerned. Not only does

a healthy competition with co-workers improve the

overall performance of the work in many instances, the

act of comparing yourself with them can highlight our

strengths and weaknesses. Several good companies

foster competitive internal environments to boost their

productivity. Former GE CEO Jack Welch’s famous “forced

ranking” system is an example where top GE executives

would rank employees by performance and they generally

let the bottom 10% go. An aggressive system like this

may or may not work, but some competitive behaviour

at the workplace is more than welcome for an inspired

output.

It keeps you on top of your game

Ever watched an ant building a nest on her own? She does

so with little enthusiasm, moving around as if tired of life

and perhaps bored with the whole business of excavating

earth. Now, if you give our ant a co-worker, you can

watch her transformed into a dynamo. She becomes a

workaholic, even an Olympian among insects.

Much in the same way, the sheer presence of an

“audience” which competes with you or simply observes

your work may boost your performance.

Reminds you of what you can do

The workplace enables one to assess the abilities of

our colleagues in comparison with our own. That can

encourage us to bring out the best in ourselves by looking

for the skills and qualities which make us unique in our

own way. Identifying what’s unique about us is the key to

improvement at work.

Collaboration

A healthy amount of competition can help expose our

weaknesses and strengths as much as our competitors.

The idea is to find a way to work together so that you can

help compensate each others’ weaknesses and building

on your strengths. Collaboration at work is all about

teamwork.

Good managers understand how competition affects

employees and how to build competition in a positive way.

Competition, in fact, comes in two flavours. While direct

competition is a one-to-one experience that produces

only one winner, Cooperative competition on the other

hand makes a team work together to achieve a goal for

the group. So, while too much competition within the

workplace can lead to lower productivity, hard feelings and

loss of focus; an intelligent manager carefully oversees

competitive situations.


50

“Do we go forward towards a new vision of an America in which prosperity is shared? Or do we go backward to the same policies that got us in the mess in the first place?”


52

Good Old Fixed Deposits!


Since conservative investors invest most

of their savings in safe avenues like bank

deposits, it is very important for them to earn

an extra percent from other relatively safe

saving instruments. Fixed Deposit or FD is

a financial instrument provided by banks which provides

investors with a higher rate of interest than a regular

savings account, until the given maturity age. The tenure

of an FD varies from 10,15 or 45 days to 1.5 years and can

be as high as 10 years. These investments are covered

under Deposit Insurance & Credit Guarantee Scheme of

India and also offer Income Tax and Wealth Tax benefits.

The defining criteria for an FD is that the money cannot be

withdrawn before date of maturity as in case of Recurring

deposit or Demand deposit. To compensate for the low

liquidity, FDs offer higher rates of interest. Usually the

interest on FDs is paid every three months from the date

of deposit and credited to the customers’ Savings bank

account. In case of premature withdrawl, the interest is

paid at the rate applicable at the time of withdrawl. Banks

can also charge a penalty for premature withdrawl.

Some of the main benefits of FD

• Loans which customers can avail against FDs up to

80% of the value of their deposits at 1 to 2% over

the rate offered on the deposit

• Non Resident Indians (NRIs) and Person of Indian

Origin (PIOs) can also open these accounts.

It is important to note that tax is deductible by the banks

on FDs in case interest paid to a customer at any branch

exceeds Rs 10,000 in a financial year. This is applicable

to interest payable as well as reinvested per customer per

branch and is known as Tax Deducted at Source or TDS

(presently fixed at 10% of the interest). Banks issue Form

16A every quarter to existing customers as a receipt for

TDS.

Apart from banks, today investors have many options

to invest in FDs with companies like Ansal Housing,

Apollo Hospitals, Unitech, Bilcare and Godrej Properties.

Typically, one can earn around 9-12% from these company

fixed deposits. The problem with investing with these

companies is the absence of a ‘rating’. This is because

apart from NBFCs and housing financecompanies, other

companies need not go for a ratingfor their fixed deposits.

It is thus important to study how the company has been

faring in the market over a respectable period of time. In

case of companies listed on stock exchanges, you can

get yearly and quarterly numbers of these companies on

websites of the exchanges.

HIGHEST RATE OF INTEREST ON FDs

CURRENTLY OFFERED BY BANKS IN INDIA

53

Name of the Bank

Catholic Syrian Bank

Lakshmi Vilas Bank

Lakshmi Vilas Bank

Tamilnad Mercantile Bank (TMB)

Dhanalakshmi Bank

Yes Bank

State Bank of Hyderabad

State Bank of Patiala

Period of fixed Deposit

>2 years to 3 years

1 year to < 2 years

2 years to < 3 years

1 year to < 2 years

500 days

15 months 15 days to 16 months

1000 days

555 days

Rate of Interest (%)

10.00%

9.80%

9.75%

9.75%

9.75%

9.60%

9.50%

9.50%


54

The Magic of Compound Interest

Albert Einstein referred to it as the eighth wonder

of the world. Compound interest helps you in

amassing wealth by making your money work

hard for you. A lot of people don’t understand

the practical aspect of compound interest. Though

everyone comes to know about compound interest while

in school, he tends to forget to apply its power where it

matters the most, in the creation of wealth. The crux of

the phenomenon of compounding is that the earlier we

start saving, the easier wealth building becomes for us.

What does Compounding Mean?

Compounding refers to re-investment of the interest

earned, at the same rate at which the principal was

invested year after year. Let us understand this with an

example. Assume that you make an investment of Rs.

1000 in a fixed deposit for 3 years at an interest rate

of 10% p.a., compounded annually. This is how your

investment will grow:

Take note that at the end of year 2, your interest is calculated on Rs. 1,100 and not Rs. 1,000. That’s where the brilliance

of compounding comes into play. Had simple interest principle been followed, you would have earned interest on Rs. 1000

and hence interest earned in year 2 would have been lower by Rs. 10 and in year 3 it would have been lower by Rs. 21.

Period Amount at the beginning of the year Interest Earned @ 10% p.a. Year-end balance

Year 1 1,000 1,000*10% = 100 1,100

Year 2 1,100 1,100*10% = 110 1,210

Year 3 1,210 1,210*10% = 121 1,331


Instrument of Investment Frequency of Compounding

National Saving Certificate Half yearly

Public Provident Fund Annually

RBI Relief bonds Half yearly

Post office Time deposit Quarterly

Kisan Vikas Patra Half yearly

Government Securities Half yearly

Bank FD’s Minimum: Quarterly

Corporate FD’s Minimum: Quarterly. It differs from entity to entity

Corporate Bonds Minimum: Quarterly. It differs from entity to entity

Compounding is a very powerful tool and in order to

obtain maximum benefits out of it, we need to focus on

two things. One is TIME and the other is FREQUENCY.

Time

An early start can give your money the advantage of longer

amount of time which can work wonders for you. You

don’t have to wait till you think you can save a big amount

regularly. Even if the amount is small, just remember to

be regular. That is the secret. Let us understand this with

an example of two friends Sheila and Raj:

At the age of 25, Sheila invests Rs. 10,000 @7% p.a. for

10 years

At the age of 35, Raj invests Rs. 10,000 @7% p.a. up to

the age of 58

Let us assume that both of them retire when they are 58

years. What will be the difference in the wealth amassed

by each friend by then? Although Sheila has invested only

Rs. 1,00,000 she is able to amass Rs. 7.5 lakhs by the

age of 58 years because she started investing 10 years

earlier than Raj. On the other hand, in spite of investing

a total of Rs. 2,40,000 Raj is able to amass just Rs. 6.22

lakhs (Rs. 1.27 lakhs lower). This clearly indicates that

the time for which the investment is done is the key, not

the sum. Even a small sum of money can make you richer

if you are able to invest early.

Frequency

The greater the frequency of compounding (i.e. daily,

monthly, quarterly, semi-annually or annually), the better

the results. An amount of Rs. 20,000 invested in a fixed

deposit at an interest of 10% p.a compounded at varied

frequencies and also for different tenures will yield the

following results:

Under the quarterly compounding option, the amount of

money amassed is the highest, followed by semi-annual

compounding and then by annual compounding.

• By end of year 1, quarterly compounding earns you

Rs. 26 more than semi-annual and Rs. 76 more

than annual compounding


Rs. 194 more than semi-annual and Rs. 562 more



Rs. 635 more than semi-annual and Rs. 1,826 more


Investment Options with the Feature of Compounding

For tax saving purposes and also for general investment purpose like retirement planning, many of us invest in fixed

interest instruments. Interest on the same is compounded at varied intervals.

56

Close that Tap! A minute of keeping the tap open without reason can send up to 10 precious litres of water down the drain.

planetsavers


58

The aging process, which is largely an artificial condition

caused mainly by autointoxication or self-poisoning,

can be slowed down by practicing yoga. By keeping

the body clean, flexible and well lubricated, one can

significantly reduce the catabolic process of cell

deterioration. To get the maximum benefits of yoga, a

combination of the practices of yogasanas, pranayama

and meditation is required.

For all the lovers of luxury cars in India, there’s good

news. Aston Martin, the British manufacturer of luxury

cars made popular by video games and Bond movies,

has decided to enter the expanding markets in India.

Priced at about 3 crore, the car would be available at

the Infinity Cars showroom in Mumbai.

Aston Martin in IndiaThe Power of Yoga

be a prosperity seeker


59

When independent brain areas involved in math

processing receive stimulation, other parts of the

brain responsible for music, reading and personal

relationships also “morph and grow,” according to

research reported by Edutopia, an education website.

Math problems and brain teasers allow the mind to

explore possible solutions from small clues. Toys that

incorporate math grouping problems include Rubik’s

Cube, Number Planet and Topsy Turvy.

Mind Your MathematicsThe Law of Attraction simply states that

you attract into your life whatever you

think about.

...good health, a great mind & lots of money!


If you’re looking for a time –tested book on prosperity,

“Seed Money in Action” written by Dr Jon Speller is

a great book to read. Published way back in 1965,

this old little booklet has gone through 53 editions

and sold more than 10,00,000 copies worldwide. The

basic message of the book is that as you give, you will

receive ten-fold in return. This ancient secret has helped

create millionaires and billionaires throughout time, and

still works today.

There is, however, an interesting catch in the situation

where you receive ten-fold for what you give. When you

decide to give, you need to do so with a mind-set of non-

judgmental expectation. People who do that are in the

flow. They give and they receive. If you’ve noticed, most

people who are broke are practicing the scarcity principle

and not the seed money principle.

For most people who are having money problems, it is

difficult for them to imagine how they would give away

some money. Yet the secret to prosperity as per this

famous booklet is not only to give away some money, but

go so far as to think the proper way AS they do that.

Dr Jon adds many additional illustrative cases to John

Hoshor’s original Seed Money. The book shows some of

the ways you can remove mental blocks which impede

your tenfold return.

Book currently available with www.amazon.com for $15.96 (Rs 886.34)

Seed Money in Action

Jon P. Speller

60

Bookshelf


Mary Kom Five-time world champion in the 48 kg category, the diminutive boxer from Manipur increased her weight category from 48kg to 51kg in order for her to be eligible for participation in London Olympics 2012. Olympics medallist Mary Kom will soon be a celluloid character too, courtesy filmmaker Sanjay Leela Bhansali and director Omung Kumar who are making a movie on her life.

64

Soft Corner

Bollywood star Vivek Oberoi was among the 4 Indians listed in Forbes ‘Heroes of Philanthropy’ in 2011. Awarded the Red and White Bravery Award in 2006 for helping re-build a village which was hit severely by the Tsunami, Oberoi, then at the age of 28, assembled six truckloads of relief supplies and also adopted one of the affected villages in the Cuddalore district of Tamil Nadu. He and his family has founded the Yashodhara Oberoi Foundation (YOF). His philanthropic activities also include Project Devi for cancer patients and Banyan for mentally challenged homeless women. In all, he has donated Rs 30 lakhs and also helped raise Rs 250 lakhs to support education, health and disaster relief.

Vivek OberoiAge 36 yrs


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Property & Wealth Sep 2012 Issue

Documents

dubai metro

kolkata metro

metro projects

chandigarh metro rail

urban metro network

fantastic metro railway

delhi metro train

end of chandigarh