Property & Wealth_Jul 2013

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newsdesk 15 hotspots 19

Weekend/Holiday Homes 24

Your Personal Retreat 26

Safe Investment In Residential Property 28

Real Estate Regulator Will Bring Oligopoly In The Sector 32

India's Emerging Retail Destinations 34

Dissecting The Role Of Real Estate Regulator In India 36

Need For Ombudsman For Real Estate Brokers 39

projectwatcher 40

There's no end to what a person can achieve if he is willing to experiment. As one of UK's better known property educators today, Sunil Jaiswal has always advocated looking at property "in a different way". In fact, his own foray into the property business was far from conventional. After he'd read RDPD, our Rockstar-turned-IT Consultant-turned Property Consultant embarked on an unusual quest; to find a property that would be bought entirely through a mortgage.

15

08contents July 2013

04

propertywise

COVER STORY

PROPERTY & WEALTH VOL 2, ISSUE 11, July 2013

PROPERTY ROCK! Sunil Jaiswal’s Remarkable Journey

be a prosperity seeker 44

quotemagic 46

eyecatchers 47

Understanding CIBIL Score 48

44prosperityseekplanetsavers 50

bookshelf 51

Why Stop Multitasking 52

Vaastu Guidelines for Your Garden 54

softcorner 56

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 TeamAntima, Arun

Advertisement & SalesDirector Marketing: Sandeep Kapoor (M) 9818510511, [email protected] Sales & Advt Ajay Gupta (M) 9216841278

Sales & SubscriptionMr. Ajay Gupta(M) 9216841278

Photography Rohit Bhatia

Pre Press Team: NBC, GopalProduction Team: 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

contentsJuly 2013

05PROPERTY & WEALTH VOL 2, ISSUE 11, July 2013

editorial

about this issue

There was a time in the late 90s when almost everybody

I knew was into Multi-Level Marketing. I remember

being invited, and sometimes forcibly taken to some ‘life-

changing’ open sessions addressed by well-groomed,

brilliant speakers.

No sooner had the host/s introduced them to the

audience, the ‘great leaders’ would start weaving their

magic. They were so full of knowledge and knew whatever

you needed to know about being successful in life. And

one of the many ‘tools’ they recommended for anyone who

wished to be on this journey, was to read themselves to

sleep with some best-selling, self-help books. The book

invariably mentioned the most in these meetings was Dr.

David Schwartz’s ground-breaking masterpiece, aptly

called “The Magic of Thinking Big”. The other book they

mentioned in the same breath was Robert Kiyosaki’s “Rich

Dad Poor Dad”. More often than not, the rest of the talk

at those meetings was also gratifying and uplifting. But

though I sat there and clapped to every truism uttered by

the ‘leaders’ or to the success stories recounted by people

in their network, I couldn’t really bring myself to join any

of these get-rich schemes. And I soon forgot the names

of the books.

Years later, I am again confronted with a testimony of the

second book mentioned above. Acclaimed Property Guru

and the protagonist of our Cover Story this month, Mr.

Sunil Jaiswal candidly acknowledges the big change he

has experienced in life, after he’d read “Rich Dad Poor

Dad”. Well, I guess a good book’s a good book after all,

whether or not everybody gets to read it!

Bookish Knowledge

Jasmeet Dhamija Editor-in-Chief

“Property Rock!” is the story of Sunil Jaiswal, a once-

upon-a-time Rock artiste (yes!) who now runs a rocking

Property Exhibitions company in Dubai. As another

successful edition of Indian Property Show, the flagship

event of Sumansa Exhibitions, recently came to a close in

Dubai; we trace the extraordinary journey of its CEO – how

a computer whizkid in school and a guitar-wielding young

man on stage, turned to Property as a business.

Considering the high stakes involved, safety in investment

in property is highly desirable and to be able to minimize

one’s risk while investing in Real Estate, there are several

factors that need to be borne in mind. Turn to page 28 to

know more.

With all eyes on the long-pending Real Estate Regulator Bill

to be tabled in the Monsoon Session of Parliament, we bring

you two write-ups on the subject from different standpoints

in the industry. Also in PROPERTYWISE this month is an

article on “India’s Emerging Retail Destinations”.

Founded in 2000, CIBIL is India’s first Credit Information

Company. “Understanding CIBIL Score” explains in

detail about various aspects of CIBIL Score. Also in

PROSPERITYSEEK this month, read why Multitasking isn’t

the best way to get things done.

A garden in the house can be a source of great joy for the

family. In our Vaastu Shastra feature this month, renowned

Vaastu expert Mr. Naresh Singal gives us some guidelines

on the subject.

Pankaj SharmaEditor

Do check us out on www.facebook.com/propertyandwealth

06 PROPERTY & WEALTH VOL 2, ISSUE 11, July 2013

Cover Story

Strumming his guitar onstage as Rhythm Guitarist Blake Peterson to "Peace Just in Heaven" in the company of other members of Millennium (one of the first metal bands in India) must be a pleasant but distant memory for him. But Blake is now Sunil Jaiswal, and he doesn't have a guitar in his hands. Having ventured into Real Estate a long time ago, he's built a multi-million pound portfolio from scratch in the UK, following that up with hugely successful campaigns in Florida in the US, India and now in Dubai. Quitting his IT business in 2003, he began a new business of teaching people how to deal and invest in property and also finds the time to run an event management company that holds property shows around the world.

PROPERTY ROCK! Sunil Jaiswal’s Remarkable Journey

08

Bangalore's legendary 90s' metal band Millennium. From left: Lead guitarist Rio Golesorkhi, lead vocalist Vehrnon Ibrahim, drummer Nader Mohandese, bass player Malcolm Greig and rhythm guitarist Blake Peterson, in this 1988 photo.


What happens when a Rockstar turns

to Property as a career? He ends

ups creating some more

(land) records! Seven

years into its existence,

when Bangalore-based heavy metal band

Millennium split up in 1995, their tall and

handsome rhythm guitarist Blake Peterson

a.k.a. Sunil Jaiswal migrated to the UK. Falling

back on his sound computer skills acquired in

school, he easily landed a programmer's job with a

software company, on the very next day after his arrival.

When he'd shown them what he was capable of, Oasis

400 started contracting him out to other companies.

Jaiswal then decided to set up his own business as an

IT consultant and went to work for major companies in

and around London. He soon got a business partner,

the company started expanding and together they

opened an office in India.

For some time, Jaiswal seemed content in his

world. He had a nice house, a nice car and a

family. Things were looking up for Dukeswell

Solutions too, as he'd just picked a consulting

assignment with a major shipping company

that paid him a cool £ 700 (appx Rs 64,000)

per day. Everything seemed to be in place

and in fact anybody in his position would've

felt smug and successful. However, one

fine day in 1999, Jaiswal walked into a

bookshop and picked up a 'life-changing'

self-help book that really changed his life

forever. First published in the 90s', Robert

T. Kiyosaki's famous bestseller "Rich Dad

Poor Dad" has sold over 26 million copies

worldwide. Widely available even today, the

book obviously makes for interesting reading

and it wouldn't be hard for someone like me to lay my

hands on a copy of my own. But what's hard for me is to

guess how many of those 26 million copies could actually

find readers who managed to put Mr Kiyosaki's financial

wisdom to practical use. In Sunil Jaiswal's case, however,

the book has been dramatically life-altering. He has, on

many occasions openly admitted that it was this particular

book that pointed him in a new direction that promised to

provide 'passive' income, a term hitherto unknown to him.

Looking at ways he could "have money work for him and

stop just working for money", Jaiswal eventually decided

to venture into real estate.

Fourteen years on, Sunil Jaiswal is a name to reckon

with in the property world. He is the Chief Executive of

Sumansa Exhibitions, the Dubai-based company (he'd

started in 2006) behind the Indian Property Show, an

event especially created with NRIs in mind. Out of several

other enterprises Jaiswal has initiated, one of them credits

special mention. Reality Expansion was borne out of a

burning desire to "teach people how to buy property."

It all started with filling out a Finding Your Uniqueness

workbook recommended to him by a trusted friend.

Having read it from page to page, he woke up two

days later and knew instinctively what was next

in the scheme of things. Armed with a new-

found energy and still oblivious of his skills, Jaiswal

formulated a one-day course of his own. In five days,

he got 11 people to attend the course that turned

out to be hugely successful. Encouraged

by the attendees who returned to thank

him for the millions he put into their own

pockets, Jaiswal made sure he did a better

job each time he stepped into a class. "I

got them out of their rat races," he says

with pride. What comes as a surprise

to us, is the fact that Jaiswal later

opted to sell Reality Expansion in

Jan 2006. When someone asked

him about how he could leave

a multi-million pound company,

Jaiswal's ready answer to that, said

it all - "The next thing will be bigger

and a lot of fun." And he's kept his

word.

The UK-India Connection

Jaiswal's father Umashankar left India for England many

years ago, fell in love with and married an Englishwoman

called Rosetta Cloe. In 1982, when Sunil was 12 years

old, the family went to India on a visit that lasted four

months. They travelled to Delhi, Lucknow, Bangalore and

Varanasi, Umashankar's hometown. The next year, they

took off for India again and this time, it wasn't going to be

a visit. It was for keeps.


Never having forgotten the sweltering heat that greeted

him in India when he got off the plane, he says, "I

remember heat in India as being unbearable when we

got off the plane in Mumbai that May. I also remember

kids playing cricket on the road in that heat, which was

an amazing sight. As was seeing a cockroach for the first

time!" A couple of days later, this young lad born and

bred in Heston (near Southhall), London, found himself

attending classes in Clarence High School, Bangalore -

where he did his 8th, 9th and 10th.

For his secondary schooling, Jaiswal was sent to the

prestigious Bishop Cotton Boys' School where he found

the love of his life, computers. Soon branded as a 'child

prodigy' due to the effortless ease with which he took

to coding and designing software, Jaiswal literally "took

to computers." One of his most memorable moments

at Cotton's was the day he won a prize for developing

software that simulated heart rhythms. For the same

event the following year, he found his name missing from

list of participants. The organisers of the event refused

to let him compete, saying he was too good for the

competition and letting him participate would be unfair to

the others. They did, however, remember to felicitate him

with a special prize. After secondary school, Jaiswal's

father wanted him to graduate and thus he enrolled

for commerce classes at Sri Nijalingappa College. As

it turned out for him, his lack of knowledge of the local

language did him in. Half the classes at the College were

conducted in English and the other half was in Kannada.

At the end of the first year, he failed one examination.

And what do you think he did next?

The rebellious teenager that he was, Jaiswal or Blake

Peterson as he was then known, picked up the guitar.

Not as an instrument to play out his angst but to be part of

India's first superstar band, Millennium. He's the lanky,

long-haired (reminds me of Ishant Sharma coming in to

bowl) young man you could still watch on the famous Rock

band's videos available on Youtube. Having spent some

years as a performing artist with this passionate group

of 'head-bangers', it was time to move on. "Millennium

didn't make serious money," he says and adds, "Playing

heavy metal in India was not the smartest way to do that!"

Since his family had good friends in the UK and Australia,

it had to be either of these places. Having spent 13 years

in the UK, Jaiswal chose UK.

10

Following his astounding success in property dealings, Sunil Jaiswal began a new business of teaching people how to deal and invest in property through his ‘Property Secrets’ course.


11

Property Rock!

While Jaiswal leaves no opportunity to credit Robert

Kiyosaki's bestseller for having opened his eyes towards

true financial independence, he also doesn't forget

mentioning an engaging discussion he once had with

another Robert Kiyosaki fan, a colleague called Andy

Southhall. As both avid readers discussed threadbare the

concepts outlined in the book, the conversation centered

around passive income streams - the idea of setting

yourself free from the rat race by letting your money go to

work for you. Southhall had apparently just made his first

million buying and selling property in London and that

must've been inspired his audience no end.

There's no end to what a person can achieve if he is willing

to experiment. As one of UK's better known property

educators today, Sunil Jaiswal has always advocated

looking at property "in a different way". In fact, his own

foray into the property business was far from conventional.

After he'd read RDPD, our Rockstar-turned-IT Consultant-

turned Property Consultant embarked on an unusual

quest; to find a property that would be bought entirely

through a mortgage. For one year, he scoured the web

and talked to umpteen investors, brokers and solicitors

about his Zero Down Payment plan of buying property,

but few listened. He looked at 200 properties across the

UK, attempting 3 different deals worth 8.5 million pounds.

And one fine day, when he thought he'd had enough, his

big hunt came to an end. In his own words, he'd found

"the right broker, the right mortgage product, the right

solicitor and the right house".

The house that Jaiswal bought for £ 250,000 (about Rs

229,87,500) is a sprawling one in Milton Keynes, a large

town in Buckinghamshire, about 72 km North-West of

London. The minute he'd bought the property, he had an

equity of £ 25,000 and thus he owed £ 225,000. However

on the day of closing, he was able to take out £ 50,000

of tax-free money from that property. In addition to that,

the property also paid him a handsome return of £ 800

in rental income (the difference between the mortgage

payment and the rent received). Needless to say, Jaiswal

had found his pot of gold. "I did it again and again and

again," he says and "by 2003, I had a multi-million pound

portfolio - which gave me more than 700 a day!"

In two years, Jaiswal's property income surpassed his

income from

the IT business

which he had in

London and in

India. In 2003,

he took another

m o m e n t o u s

decision. Of

quitting his IT

business to

focus full time

on Real Estate.

About Property

Secrets Course,

a course he

has designed

to teach people

how to deal in

property, Jaiswal says, “We had eleven people on our

first course, all of whom got fired up by what I told them.

A month later, three of them bought one million pounds

worth of property and within three months, all eleven had

bought at least one property. After this, I realised this was

what I wanted to do: help people, help them understand

property and get inspired because it can get them what

they want."

The Indian Property Show

In December 2005, Jaiswal and his partners in Dubai

came up with a plan to host an exhibition for Indian NRIs.

They figured that many Indians came to Dubai to make

money, so they could return to India sometime and own

their home. It thus made sense to put up an exhibition

of Indian properties for them. With each passing year,

the Indian Property Show founded in 2006 continues to

grow in terms of number of developers participating as

well as footfall generated, showcasing Indian properties

worth billions of rupees. And with Jaiswal at the helm

as CEO of Sumansa Exhibitions, he's been able to impart

a lot more value to the show. So you have interesting

add-ons like dedicated kiosks on legalities, Vaastu and

"Know Your City" seminars on high-growth areas in India

by industry experts.


12

The Indian Property Show 2013

Spread over three days, the hugely successful 12th edition of Indian Property Show held in Dubai World Trade Centre

came to a close on the 22nd of Jul 2013. With more than 17,000 visitors and about 120 exhibitors, this year's edition

also turned out to be the biggest one yet. There were developers from a host of Indian cities - from Delhi, Noida, Gurgaon,

Jaipur, Mumbai, Pune, Chennai and Bangalore. 174 stalls displayed apartments, villas, row houses, commercials and

plots ranging from Rs Ten lakhs to Rs 23 crores.


13

Marking their presence at the extravaganza this year were some of the biggest players from the Indian real estate industry like Indiabulls and the Lodha Group.

Despite the unprecedented footfall in this edition of the show, the organisers made every effort to ensure a good experience for visitors.

As part of their promotional campaign, pioneering Real Estate consultancy Investors Clinic hosted Indian cricket superstar and their brand ambassador during his visit to Dubai for the show.

There were open sessions addressing various queries of the visitors regarding legal issues related to property purchase and Vaastu.


98726-35220, 98156-01347

newsdeskREAL ESTATE & INFRASTRUCTURE NEWS

regional national international

16

regional

In a fresh development which is likely

to push up property prices further,

builders in Haryana are set to be

brought under the scanner of the

Excise and Taxation Deptt. as the State

Government prepares to bring them

under the ambit of Value-Added-Tax

(VAT).

The Times Property Expo 2013 Venue: Pragati MaidanDate: 12 Jul to 14 Jul 2013

Property & Investment Expo 2013 Venue: Hotel Shivalik ViewDate: 17 Aug to 18 Aug 2013

VAT

forthcoming events

Chandigarh

After the High Court had expressed

its displeasure over the procedure

adopted by the administration in cases

of transfer of property, the Chandigarh

Administration has decided to make

issuance of public notice mandatory

for transfer of immovable properties

and without this, no transfer will be

effected.

Property Transfer

Chandigarh

Presiding over the 26th meeting

of the Punjab Regional & Town

Planning & Development Board,

Chief Minister Parkash Singh Badal

has officially approved renaming

the Local Planning Area (LPA),

Mullanpur, as 'New Chandigarh' and

he has asked the Greater Mohali Area

Development Authority (GMADA) to

develop it as a world-class planned

city on modern lines.

Though it has already received its

forest clearance on April 16, the

proposed six-lane, 179.5 km long

expressway connecting Faridabad to

Mathura and Agra project undertaken

by the National Highways Authority

of India (NHAI) has no provision for a

wildlife corridor.

As per provisions made in the draft

bill of the State Urban Housing

and Housing Policy 2013, mixed

land use can soon be a reality

in Noida, Greater Noida and

Yamuna Expressway areas wherein

commercial activities can be carried

out from sectors earmarked for other

uses like residential, institutional and

industrial.

Mullanpur Renamed

No Wildlife Corridor

Chandigarh

Faridabad

Mixed Land Use Noida

ChandigarhNew Delhi

newsdesk

High Rises Delhi

Union Urban Development Minister

Kamal Nath's push for vertical growth

in the city has found support with the

Delhi government. As per a statement

issued by Delhi Urban Development

Minister Arvinder Singh Lovely, basic

services like drainage, water supply

and power distribution network will

have to be strengthened if vertical

expansion in the city is allowed.


The Pune Municipal Corporation

(PMC) is planning to start a mandatory

registration process for builders so

that they can be held accountable for

constructions carried out within the

PMC limits and no construction projects

will be allowed without registration. As

of now, only the structural auditors and

architects are registered with the civic

administration.

As per a study conducted by

international realty consultant Jones

Lang LaSalle, Chennai's unsold

housing stock has risen from 20,000

units a year ago to 45,000 units now.

Also, as against 80,000 apartments

sold in the last quarter of 2012, only

65,000 units were sold between

January and March this year.

national

17

In a transaction handled by property

consultant DTZ, California-based

social networking site Linkedin

recently booked 74,341 sq ft of

space in Prestige Technology Park in

Bangalore. The 22-acre Technology

Park also houses other big companies

like JP Morgan and Adobe.

The Times Property Expo 2013 Venue: Hotel Lalit AshokDate: 10 Aug to 11 Aug 2013

Prompt Property Fair 2013 Venue: Chennai Trade CentreDate: 16 Aug to 18 Aug 2013

Linkedin

forthcoming events

Bangalore

In a series of tweets, former IPL

commissioner Lalit Modi has made a

sensational claim that three Chennai

Super Kings players had links with

a real estate tycoon, who is also

a bookie and has close links with

Gurunath Meiyappan and other IPL

franchisee owners. He further went

on to claim that this person had

also given several flats to players in

Mumbai, Noida and Delhi.

Lalit Modi

Builder Registration

New Delhi

Power Project Kolkata

Pune

Unsold Housing Stock Chennai

ChennaiBengaluru

newsdesk

The Stamps and Registrations

Department has launched the

'Anywhere Registration' of property

project in two more districts of

Hyderabad that are Medak and

Nalgonda. Under this project, citizens

are allowed to register their property

in any of the Sub-Registrar Offices

(SROs) within the district.

Anywhere Registration Hyderabad

Reminiscent of Tata Motors' decision

to shift its Nano factory from Singur

in West Bengal to Sanand in Gujarat,

authorities at the Power Grid

Corporation of India have decided

to shift a power transmission project

from Karanidighi in North Dinajpur

to Kishanganj, just 50 km away in

neighbouring state Bihar.


18

international

Home Buyer and Property Investor Show Venue: Melbourne Convention & Exhibition CentreDate: 23 Aug to 24 Aug 2013

Phillipines Property Show 2013 Venue: Marina Bay Sands Convention Centre Date: 31 Aug to 01 Sep 2013

Europe's Tallest Tower

forthcoming events

Empire State Building New York

London

In May this year, the Bureau of

International Expositions (BIE)

met to review the legitimacy and

preparedness of the five city-bids to

host the 2020 edition of the World

Expo. Thailand's Ayutthaya was

eliminated due to lack of government

support. The remaining four cities in

the fray are Yekaterinburg (Russia),

Izmir (Turkey), Sao Paolo (Brazil) and

Dubai (UAE). Dubai's existing world

class transportation infrastructure and

reputation for staging international

events already puts it well ahead of the

other bidding cities.

World Expo Bid Dubai

Melbourne Singapore

Microsoft founder Bill Gates has

reportedly purchased an estate in a

famous equestrian neighborhood in

Florida for $8.7 million. The second

richest man in the world and wife

Melinda reportedly paid cash for 4.8-

acre property. Dubbed the "winter

equestrian capital," Wellington is a

popular hotspot for celebrities and

home owners include New York City

Mayor Michael Bloomberg, Bruce

Springsteen and Tommy Lee Jones.

Bill Gates Florida

One of India's largest listed real estate

developers, India Bulls has announced

plans to launch offices in some Gulf

countries. The company already has

set up base in Dubai's Karama area

and now it has outlined plans to open

representative offices in Saudi Arabia

and Bahrain by the end of 2013.

India Bulls Gulf Countries

newsdesk

New York's iconic Empire State

Building is at the centre of a bidding

tussle after the owner of London's

Burlington Arcade made a cash

offer of more than $2.1bn. It is the

third bid in two weeks, threatening

to disrupt plans by Malkin Holdings,

the controller of the building, for an

initial public offering.

Chinese property company Dalian

Wanda is to build Europe's tallest

residential building alongside the river

Thames in the heart of London. The

670 foot tower block in Vauxhall will

be taller than other leading landmarks

in the city such as the BT Tower and

St George’s Wharf. Overall, the £700

million project will also have offices, a

public square, shops, restaurants and

a five star hotel.


CHANDIGARH CAPITAL REGION PROPERTY HOT SPOTSZIRAKPUR R ZONE 1

ZIRAKPUR R ZONE 2

MULLANPUR - NEW CHANDIGARH

KANSAL

AEROCITY

MIXED LAND USE & INDUSTRIAL SECTORS 82, 66, 66A, 66B

LANDRAN - BANUR ROAD (RIGHT SIDE)

LANDRAN - BANUR ROAD (LEFT SIDE)

KHARAR LANDRAN - ROAD

BALONGI - KHARAR ROAD

ZIRAKPUR R ZONE 2

FOCUS THIS MONT H

22

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


23

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.

HOT SPOT IN FOCUS - ZIRAKPUR R ZONE 2

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

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

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

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Maya Garden Phase-3

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Zigma Wealth: 8146992437


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

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Ready to move in

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Ojas Grand, Zirakpur

BudgetPlanner

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


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` inLakh

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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

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

DLF Samavana

BudgetPlanner

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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

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

Hill Farms

BudgetPlanner

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

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

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

24

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.

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

` inLakh

` inLakh

` inLakh

` inLakh

` inLakh

` inLakh



Your Personal Retreat

A peaceful hamlet nestled in the tranquil hills

of lower Himalayas, Kasauli is a land seeped

in rich history. The valley, abound in the

serene forests full of oak and chestnut trees,

is 60 minutes away from Union Territory

Chandigarh.

SamaVana - Welcome to Heaven on

Earth!

A leisurely retreat cradled in the quaint

colonial repose of Kasauli, SamaVana is a resplendent celebration

of good Living at its best. It is at a height of 4500-5200 ft above sea level.

Sprawled across approx 58 acres, Samavana

offers plots, apartments & villas.The project is

approved under Apartment Act of Himachal

Pradesh through HIMUDA.

Located in the quieter part of Kasauli,

SamaVana offers you the best of both the

worlds. It is away from the hustle bustle of

the city life yet is close enough for a leisurely

trip whenever one desires. The new

Parwanoo bypass starting from Timber trail

to HP has reduced the Chandigarh- Kasauli

Samavana Villa-Perspective View

Samavana Club- Perspective View


travel time to just 60 minutes. With this new route, you can now bypass the congested bylanes of Pinjore,

Kalka, and Parwanoo making your drive pleasurable through the meandering roads of the hills. The

closest airport to Kasauli is in Chandigarh from where; drive to Samavana is an hour and thirty minutes.

Proposed Offering:

• The Plot sizes vary from 894 to 3059 sq yards approximately. Size of the Villas and the

apartments varies from approximately 3500-4919 sq ft and 1384 and1592 sq ft respectively.

• Luxury Club spread over 9 acres. Features at

the club include a Gymnasium, Pool side

Café, Cards Room, Multipurpose Hall,

Billiards, Bar, Restaurant, Party Hall, Decks at

different levels and Kids Play area.

• Option of engaging DLF empanelled

contractors and interior designers for

construction of the Villas.

• Endless views- Serenity of the Valley to a

distant glittering night view of Shimla city

• A no carbon zone: Movement of Vehicles is

allowed only till the main entry/ exit point and

the residents thereon will travel in golf carts/battery operated cars making it an environment

friendly development.

Key Distances:

Chandigarh Airport - 65 Kms approx

Lawrence School, Sanawar - 13 kms approx

Dharmpur - 17 kms approx

KalKa Railway Station - 40 kms approx

Shimla Airport - 85 kms approx

It is a project suited to the connoisseurs of fine luxury living, hence it is only fitting that it be sold

exclusively and By Invitation Only. To register your interest, please write to:

(Advertorial)

28

Kishor PateHon. SecretaryCREDAI Maharashtra

There are many variables that can have a negative effect on one's property investments. Being aware of these is an inalienable part of successful property investment.

Safe Investment In Residential Property


29

The Rising Cost of Money

Increasing inflation is the first factor that inhibits the

profitability of a real estate investment. While investing in

any kind of property, one should always consider what

the overall earnings would be worth at the point in time

one wishes to liquefy them. If one fails to plan for the

inflationary effect, further property purchases may be

out of reach – rendering the whole concept of real estate

investment an exercise in futility.

A simple method of establishing whether inflation will

erode one’s real estate investment is to determine if the

interest rate earned on one’s savings is less than or equal

to the rate of inflation. If it is, it means that your real estate

investment too will suffer because of inflation. One needs

to establish whether the average price for property rentals

in the location one wishes to invest in will remain higher

than the rate of inflation in the long term. If it does not,

there is not much point in investing in that location.

Death and Taxes

Property taxes are yet another aspect that can negatively

influence property investments. While buying a property

with the intention of reselling it for a profit or renting it out,

one should remember that profits arising from both the

sale of a property and monthly rental income generated

are taxable. The yardstick here is not how much one

earns from one’s property, but how much one manages to

keep after the taxman has taken his cut.

It is very unwise to invest in a property without first

consulting with one’s chartered accountant or an

experienced real estate professional. While there is no

way of avoiding property taxes, it is certainly possible

to make the taxation scenario more realistic. This calls

for current knowledge of property taxation laws, which

often change without warning. One needs to determine

one’s post-taxation cash flow in order to know just how

valuable one’s property investment will be in the long run.

Fate – Your Constant Silent Companion

Finally, there is also always an aspect of free-floating risk

attached to property investments. For instance, buying a

property with the intention of selling it at a profit afterwards

always involves a degree of uncertainty and chance of

loss. One can judge the current appreciation value of a

certain location with a fair degree of accuracy, but there is

no way of anticipating all developments:

• The neighborhood may fall out of favor with buyers

• There may be unsuspected litigations attached to

the property

• Though superficially sound, the property may be legally

untenable because it has substandard construction or

does not conform to required earthquake-resistance

parameters

• The Government may decide to acquire the land the

property stands on at the minimum rate for infrastructure

development

• The investor may need to sell the property at a moment’s

notice – and at a loss - to cover other urgent financial

commitments

• There may be a natural calamity such as a flood,

rendering the entire location unmarketable

To Summarize

To minimize one’s risk while investing in real estate, one

needs to know:

• Exactly how much profit will accrue from the property in

a given time frame

• How much it will cost to make the property marketable

• How long it will take for it to attain its highest possible

market value

• What the state of the market is now, and what it will be

in the near and distant future

• What the possible losses could be with regards to all

applicable variables

• If the potential profit of buying a property outweighs the

various implied risks

• If the current cost justifies future earnings (via sale in

the short term of rental income in the long term)

• If one is financially sound enough to buy the property

now, or whether it would be more prudent to await

improved financial circumstances


32

Real Estate Regulator Will Bring Oligopoly In The Sector

With the Union Cabinet approving

the Real Estate (Regulation and

Development) Bill, the popular view

is that it will help property buyers

benefit and make the system more

transparent. The real purpose of the Bill is to give a

reliability of the delivery of the project once it is launched.

While the Bill has its good intentions, precedents show us

how such regulations usually eliminate the small builders

completely.

Highlights of the Bill:

1. All residential projects having units that are more

than 4,000 sq mts will fall in the ambit of this regulation.

2. All projects to be launched only after all the

permissions have been received for the construction of

the project.

3. About 70% of all the money collected for the project

has to be used only for this project.

4. Projects to be sold on carpet area only.

5. Each state will have a tribunal for redressal of

complaints.

In the past India has seen regulators like IRDA, SEBI, TRAI,

CCI, RBI, DGCA, ICAI. What each of the regulator has

undoubtedly brought in is the required “buyer benefit”.

However, a side effect of such a regulator’s impact on the

market is consolidation. For example, the proposed Real

Estate Regulator in the new Bill makes it compulsory for all

new projects which are more than the size of 4,000 square

meters to follow a few rules. Now such a regulation would

actually harm the big projects and builders would try to

divide projects and do smaller projects only. However,

a few factors like cost of construction, cost of marketing

and the cost of providing common facilities push builders

to do larger

projects only.

The customer

eventually thinks

that he should

invest his hard

earned money in

a project which

is regulated

rather than an

‘unscrupulous’

builders’ unviable

project. This

breaks the back

of small builders,

who survive on a

single scheme at

a time.

These days in a metro city there is already a lot of

consolidation with a few names like Lodha, DLF,

Hiranandani, etc. dominating the real estate sales market.

Lodha claims sale of Rs. 10,000 crores in the last fiscal

which is more than DLF’s sale of Rs. 9,000 crores in

the same period. In a Tier 2 city, there are a lot of local

builders operating in selected areas of the city. Usually

the local builder association has about 2,000 small and

medium builders which are now dormant – due to slow

market conditions. The SME segment has already got the

burden of lack of reliable brand, inability of having fixed

salaried staff and inability to invest in modern techniques

of construction. When such a builder wants to scale up

to large sized projects, he will need to comply with the

Regulator’s provisions which will deter him further.

Manan ChoksiRegional DirectorRE/MAX Mumbai, Gujarat & [email protected]

The customer eventually thinks that he should invest his hard earned money in a project which is regulated rather than an ‘unscrupulous’ builders’ unviable project. This breaks the back of small builders, who survive on a single scheme at a time.


33

We have seen in stock market that eventually all the

small and medium sized IPO and brokers are eliminated

from the market. It is said that SEBI regulations have

closed more brokers than the slow market. So we have a

handful of stock broking houses like Motilal Oswal, Angel

Broking, Share Khan, etc. who own practically the lion’s

share of the market. It is said that unless a broking house

has 10,000 customers, there is no viability to run the

operation. Oligopoly is the future of real estate sector, be

it a builder or a broker.

The proposed Bill has a concept called “registered

brokers”. Hence brokers are also going to fall in to the

ambit of regulation, which until now has been totally out

of regulation. Such regulations in other countries have

streamlined the entire industry and have brought a lot

of transparency. Brokers slowly adapt to the regulated

world and start building their own brand. This indirectly

regulates the secondary market also.

Even CREDAI (Confederation of Real Estate Developers

Associations of India) has ‘strong reservations’ according

to the CREDAI President C. Shekhar Reddy. He has

expressed his concerns about the License Raj re-entering

the real estate world and unnecessary victimisation

of members. It is important that the Bill maintains

equilibrium between the developers and end users.

Implementation of this Bill as it is will cause substantial

increase in cost to buyers. In the long run the Bill has the

potential to actually shatter the government’s initiative of

‘housing for all’ at affordable rates.

Right now the Cabinet has passed the Bill and it is

scheduled to be tabled in both the houses in the monsoon

session. The Bill most probably will get passed uneventfully

as officially only the state of Chhattisgarh has opposed

it. So the regulator will actually cause ‘irregulations’ as

it is not conducive to the small time brokers and is quite

lopsided in approach. Oligopoly seems to be imminent.


34

India's Emerging Retail Destinations

For retail players, stagnation and obsolescence are

two sides of the same coin. Though expansion is often

a challenge in a curtailed economic environment, it is

nevertheless a necessary function for success. Retailers

who wait too long to expand into new territories, or are

content to stay where they are, are missing the growth

wave and will eventually lose their market relevance.

As such, all Indian and global retail brands operating in

India have plans to expand into cities where economic

momentum is picking up. In these cities, most local

retailers already have a footprint, but branded national

and international brands also have their sights trained on

these emerging cities.

The upcoming cities that retailers are considering with

increasing seriousness today are:

• Jaipur

• Kochi

• Ludhiana

• Indore

• Nagpur

• Udaipur

These emerging cities are emerging as lucrative as

retailers/brands are attracted by the increasing incomes

and rising brand awareness among consumers there.

Also, a substantial number of shopping malls are being

planned or are already under development in these

cities. Sales in the modern retail stores in these cities

are quite encouraging, and this is paving the way for the

establishment of even more organised retail.

• Indore: Traditional high streets still dominate Indore's

retail landscape.

However, high

street retail is

gradually yielding

market share to

organised retail

with the arrival

of new malls and

shopping centres

in the city. M.G

Road along

with Jawaharlal

Nehru Road

was traditionally

Indore's retail

hub before the

emergence of

markets adjacent

to Palasia

Chauraha and Bombay Hospital.

• Kochi: Retail activity in Kochi has traditionally been

concentrated on a central high street, with M.G Road

being the dominant retail corridor. The other emerging

retail destinations in Kochi include Marine Drive, Vytilla

Junction, Palarivattam and Edapally. Shopping malls are

also emerging in areas such as Maradu and Edapally. The

Upcoming mall developments include Lullu Mall, among

others.

• Ludhiana: Ferozpur Road is the main growth corridor

for retail in Ludhiana; consequently, it has seen the

highest incidence of major organized retail developments

with Ansal Plaza, Flamez Mall and Westend Mall. Over

Pankaj RenjhenManaging DirectorRetail ServicesJones Lang LaSalle India

These emerging cities are emerging as lucrative as retailers/brands are attracted by the increasing incomes and rising brand awareness among consumers there. Also, a substantial number of shopping malls are being planned or are already under development in these cities.


35

time, various national and local developers have entered

the market - these include Ansal API, DLF, MBD Group,

Omaxe and Chadha Group.

• Jaipur: Jaipur has progressed tremendously on the

retail front, and is considered one of the most important

emerging retail destinations of North India. It has shopping

malls with multiplexes operational at various locations in

the city. Organised retail has come up and is proliferating

in areas such as Tonk Road, Malviya Nagar and Ajmer

Road, among others.

• Udaipur: The traditional retail destinations of Udaipur

include Bapu Bazaar, Chetak Circle, Suraj Pole, Nehru

Bazaar, Bada Bazaar and Chand Pole. Organised retail is

also widespread throughout Udaipur, with Durga Nursery

Road, Shakti Nagar and Sudkhadia Circle having the

largest concentration of new entrants. Shopping mall

developments are beginning to make their presence felt

in Udaipur, in light of the growing demand among local

consumers for a modern shopping experience.

• Nagpur: In Nagpur, unorganised retail has more or

less always existed in areas such as Itwari and Sitabuldi,

and in western part of the city. The city’s established

prime retail areas include Dharampeth, Ramdaspeth,

Gokulpeth, Central Avenue, Gandhibagh and Sadar.

Shopping malls are also operational in Nagpur, and a lot of

retail brands are entering there. Presently, Central Nagpur

is a noteworthy retail destination in terms of shopping mall

developments - however, both West and South Nagpur

are rapidly emerging as the next generation retail hubs.


36

Dissecting The Role Of Real Estate Regulator In IndiaThese emerging cities are emerging as lucrative as retailers/brands are attracted by the increasing incomes and rising brand awareness among consumers there. Also, a substantial number of shopping malls are being planned or are already under development in these cities.


Karan KhetanSenior Analyst Research & REISJones Lang LaSalle India

The Central Government Cabinet approved

the Real Estate (Regulation & Development)

Bill on 5 June 2013. The aim of the bill is

to create a Real Estate Regulatory Authority

and an Appellate Tribunal that will act as

a watchdog for the housing sector, primarily towards

protecting consumer interests while creating an alternative

redress mechanism for any disputes that may arise.

The bill demands greater disclosure from the developer

community and a higher level of project accountability

to remove the information asymmetries from the housing

market.

Like the US, where local city laws hold primacy over

county and national laws in matters relating to real estate,

land and urban planning, including housing, is a state

subject in India. In a quasi-federal state like India, states

act as independent, autonomous agents in respect of

subjects that are under their purview.

While the US does not have a single window regulator,

this bill seeks to remove this obstacle by letting the states

set up their respective Regulatory Authority. Another

major positive step is the compulsory registration of real

estate agents, which is likely to provide another level

of protection to buyers while also preventing concerns

regarding money laundering by the non-organised broker

community. A major bill provision is the standardisation

of area measurement, with carpet area to be the measure

when this bill is enacted.

Effective legislation, judicial activism and regulatory

mechanism together lead to a vibrant industry with

greater emphasis on protecting consumer interests. With

a literally exploding housing demand, there was a definite

need to bring in greater disclosure norms. Developers

would need to provide the status of all approvals as well

as sanctioned plans to buyers and will not be able to sell

their project without obtaining the required approvals.

The bill has

also sought to

ensure that the

buyer’s payment

is utilised for the

development of

the particular

project by

n e c e s s i t a t i n g

the creation

of an escrow

account where

the customer

advances paid

will be used only

for that project’s

completion. This

limit has been

revised from 70%

earlier to 70% or less as decided by the respective states.

The bill also seeks to make the developer responsible for

adhering to the timelines and specifications committed to

for project completion.

However, there is a need to analyse if certain inherent

challenges facing the housing sector have been given a

miss in this draft. At first glance, the Government is yet to

streamline the approval process, which significantly slows

down the project launch date and adds to the cost burden

of the developer.

There is no clarity on which law will have precedence in

the case of a dispute between the Central Government and

state policies. The idea of fostering greater transparency

may come at the cost of housing projects becoming more

expensive if the approval process adds to the holding

cost of the developer. That the regulator will be effective

and that this is a positive step is not debatable. However,

the extent of effectiveness and the implementation at the

state level are possible hindrances going forward.

Zigma Wealth Corporate Office:-

With FDI cap revision taking place at a

time when rupee is almost touching

historical low of Rs 60 a dollar level;

as well as India emerging as one of the

most promising South Asian economies

in light of China‘s growth story coming to a halt in face

of demographic challenges, investment in Indian Real

Estate sector looks good in global markets.

Surely all global eyes now rest on Indian markets especially

in terms of real estate sector. What is now required of this

resurrected sector is to be more professionally managed

and organized. It’s time to systematize and statutorily

regulate the Indian Real Estate sector.

In order to grab the knocking opportunities, to enlighten

Indian realtors and train them to imbibe and adhere

to international best practices, thus inspiring investor

confidence, the 5th Annual Convention of National

Association of Realtors in India (NAR India) is being held

in New Delhi from 6- 7 July 2013. Previous editions of the

Convention were held in Pune, Chennai, Hyderabad and

Mumbai respectively.

NAR India is the apex body for brokers pan India, with

its outreach to over 1,700 members across 24 cities. It is

affiliated to NAR US, the world's largest realtor association,

having presence in 42 countries round the globe.

NAR India has issued Code of Ethics and Standards of

Practice NAR-INDIA for its members to promote fair &

uniform trade practices & induce professionalism. “This

self-regulation will help shape statutory regulation as well,

which will be a win-win situation for developer, broker as

well as customer. We have also given inputs representing

the Real Estate brokers in the regulatory bill,” said Samir

Chopra, Chairman, NAR-India, 5th Annual Convention.

A special Women Committee has been set up, encouraging

woman participation in Real Estate brokerage industry.

“The main aim of this Convention is to streamline and

promote the Real Estate brokerage as a profession in

India so that we achieve transparency, accountability, fair

dealing and ethical practices for overall good governance

in the industry”, said Kalpesh Shah, President, NAR-

INDIA.

Looking at the contemporary scenario, a customer-centric

approach is what the service sector requires, and a broker

being a service provider must develop all the expertise

to cater to client’s customized needs. Providing details

on the topics to be discussed at this Convention, Prof.

Dr. P. S. N. Rao, Chairman, NAR-INDIA has announced

that this year the focus is to help brokers drive customer-

oriented solutions to problems. The Convention will moot

for transparent & hassle free service for customer, regulate

and promote trade fair trade, he added.

A special Broker–Developer interface has also been

organized. About 1,000 delegates are expected to attend

the Convention with international delegations from around

14 countries- India, US, UK, France, Bulgaria, Ireland,

Dubai, Singapore, Argentina and Germany to name a few.

NEED FOR OMBUDSMAN FOR REAL ESTATE BROKERS

39

With the 5th edition of the Annual NAR India Convention & Exhibition coming soon to the Capital, the organizers set up a Road Show to mark the event on the 26th of June 2013. Ms Charu Gupta from P&W attended the show & reports:


“Unlike Insurance Regulatory and Development Authority (IRDA), Real Estate sector doesn’t have a regulatory body. NAR India in the times to come will be instrumental in regularising the brokerage industry and help appoint Ombudsman at National & State levels.”

Samir Chopra, Chairman, NAR-INDIA, 5th Annual Convention.

Parsvnath's Privilege

40

projectwatcher


About CARE

Credit Analysis & Research Ltd. (CARE) was promoted in 1993 by some of the leading Indian banks and financial

institutions. Major shareholders of CARE include IDBI Bank, Canara Bank and State Bank of India. CARE is amongst the

premier credit rating agencies in India and provides credit rating, research and information services. CARE Ratings is well

equipped to rate all types of debt instruments including Commercial Papers, Fixed Deposits, Bonds, Debentures, Hybrid

Instruments, Preference Shares, Loans, Structured Obligations, Asset Backed Securities, Residential Mortgage Backed

Securities etc. CARE’s rating methodologies are in line with the best international practices.

Project Star Rating Rationale

• Project developer quality

The developer, Parsvnath group, has 21 years of

experience in developing real estate projects and has a

pan-India presence. As on February 28, 2013, Parsvnath

Developers Limited (PDL) has 33 ongoing projects

spread over a total area of 50.54 million square feet msf,

which comprises 13 residential projects, 10 integrated

townships, 10 commercial complexes, including malls

and 3 Delhi Metro Rail Corporation (DMRC) BOT projects

and an IT park.

• Project location, construction quality and amenities

The project site is located near Noida-Greater Noida

Expressway (four kms) and Pari Chowk (three kms). Also,

there is a proposed metro station close to the project. The

project is backed by the track record of in-house project

team of PDL, adequate project amenities and recreational

facilities such as club house, fitness centre, swimming

pool, children’s play area. Also, there is provision for rain

water harvesting and about 80% of the area has been

reserved for lawns, parks, open and landscaped greens.

• Project legal quality

The Developer has acquired land from Greater Noida

Industrial Development Authority (GNIDA) for a lease

period of 90 years (as per lease deed dated January 12,

2007) and as such the title is clear. Besides, the project

has received majority of clearances. However, approvals

for building plans and clearance from Airport Authority of

India (height clearance) are pending for renewal.

• Project financial quality

As per the current development plans of the company,

major construction funding is dependent on customer

advances. The required equity is fully deployed and the

debt is already sanctioned. The balance project cost of

Rs.140 crore (32% of total project cost) shall be funded

by remaining debt drawdown and customer advances.

CARE Assigns “NCR 4-Star” Rating to Parsvnath Privilegeby Parsvnath Developers Limited


Project Name Parsvnath Privilege

Project Type Residential

Project Location Greater Noida

Development Type Leasehold land from GNIDA for 90 years

Project Start Date April 1, 2010

Scheduled Project Completion Date June 30, 2015

Agreed upon Possession to the customer The developer proposes to deliver residential units within 36 months of

commencement of construction of the particular block in which the flat

is located. As per the management, the last block completion date is

scheduled at June 2015.

Total Saleable Area 1.78 million square feet (msf)

Construction Status The construction work is in advanced stage with 68% of the project cost incurred till March 2013. The project is planned to be completed in phases with possession of 8 towers starting in March 2014, and remaining 12 from June 2015. For Phase-I, building structures have been constructed and internal finishing work has commenced. For Phase-II, the work is in progress with basements complete and floors under construction.

42

Project Developer Profile

Name of the company developing the project Parsvnath Developers Limited

Project developer group Parsvnath Group

Development Experience of the developer group 21 years

No. of years in the industry 21 years

No. of projects developed till date 33

Total Area developed till date 16.1 msf

No. of projects ongoing 33 (51 msf)

Project Profile

Project Developer

PDL was incorporated on July 24, 1990, and is a Delhi-

based real estate development company with a pan-India

presence across 45 cities and 16 states. The company

largely focuses on North India, where it has established

a brand name ‘Parsvnath’. As on February 28, 2013,

PDL has 33 ongoing projects spread over a total area of

50.54 msf and comprises of 13 residential projects, 10

integrated townships, 10 commercial complexes including

malls and three DMRC BOT projects and an IT park. Mr

Pradeep Kumar Jain, Chairman of PDL, has more than

two decades of experience in the real estate sector.

Project Details

“Parsvnath Privilege” is a high-rise group housing project

being developed by Parsvnath Developers Ltd. The project

is spread over a land admeasuring approximately 25

acres in Sector Pi, Greater Noida, for constructing G+20

storied 952 air-conditioned 3BHK apartments. Average

size of each apartment is close to 1,855 sqft. The site

is located close to (approximately 4 km) Noida - Greater

Noida Expressway and has major projects in its vicinity.

Total saleable area of the project is 1.78 msf.

The project has various amenities such as club house,


43

fitness centre, swimming pool, children’s play area. Also,

there is a provision for rain water harvesting and about

80% of the area has been reserved for lawns, parks, open

and landscaped greens.

Highlights of the Project

• Landscaped Greens with Children Play Area

• Jogging Tracks

• Club with Swimming Pool

• Fitness Centre

• Dining Lounge

• Piped Gas Supply

• Fire-Fighting System

Construction Status of the Project

The construction activities such as RCC works, brick

work, internal & external plaster, water proofing, electrical,

plumbing and fixing of railings are in progress and pile

foundation work in all towers has been completed. For

Phase-I, the building structures are ready and internal

finishing work has commenced. For Phase-II, the work

is in progress with completed basements and floors

under construction. The company also had a sample

flat constructed at the site. As on March 18, 2013, the

developer has incurred 68% of the total project cost of

Rs.441 crore. Brief particulars about various contractors

is as follows –

1. Architects

The principal architect of the project is Rajinder Kumar

Associates. The firm was established in 1969 and has

worked on reputed projects like LEEDS Certified “Platinum

Rated” ITC Centre (Gurgaon), Grand Hyatt (New Delhi),

Radisson (New Delhi) and Maurya Sheraton

Hotel & Towers (New Delhi), Microsoft & Ericsson

Corporate Offices (Gurgaon). The firm has successfully

completed over 500 projects in India and abroad.

2. Structural consultants and civil engineers

The structural and civil work overall supervision is being

managed by PDL’s in-house team of engineers, architects

and specialists.

Project Legal Status

• Land has been acquired by GNIDA on lease (for 90

years) under lease agreement dated January 12, 2007,

and as such the title is clear.

• PDL has received environmental clearance from

Ministry of Environment & Forests and layout plan is

approved by GNIDA for an FSI of 1.5x. However, the

building plan approval and clearance from Airport

Authority of India have expired and are under-process of

renewal.

Project Financial Status

The total estimated project cost of Rs.441 crore is being

funded by way of equity capital of Rs.77 crore, term loan

of Rs.150 crore and balance from customer advances.

Although, the company has already brought in the

promoter contribution and has tied-up the entire debt

requirement of Rs.150 crore; the residual funding risk

has high dependence on customer advances, which are

also linked to timely completion of construction.

As on March 18, 2013, PDL has already incurred Rs.301

crore that includes lease premium to GNIDA (Rs.30

crore), construction cost (Rs.205 crore), financial costs

(Rs.36 crore) and other administrative and marketing

costs (Rs.31 crore). Remaining cost of about Rs.140

crore will be funded by balance term loan disbursement

and advances from the customers.


Disclaimer

CARE’s star rating of real estate projects is an opinion on the developer’s ability to execute the real estate project in timely

manner and with the agreed upon quality standards. Besides, it is an opinion of the legal quality of the project. The

analysis draws heavily from the information provided by the developer and information obtained from sources believed

by CARE to be accurate. However, CARE does not guarantee the accuracy, adequacy or completeness of any information

and is not responsible for any errors or omissions or for the results obtained from the use of such information. Also, CARE

does not guarantee the adequacy of title search done to arrive at the legal quality of the project. CARE’s Real Estate Star

rating is also not a recommendation to buy, sell or hold the rated real estate property. CARE shall also not be liable for any

losses incurred by users from any use of such rating. Most of the developers whose real estate projects are star rated by

CARE have paid a rating fee.

44

Hollywood's action film star Jackie Chan, who enjoys a

huge fan following in India, led a delegation at the first

ever China Film Festival held recently in New Delhi.

Expressing his love for Bollywood music and dance

sequences, Chan said he was waiting for the right

script and film director before venturing into an Indo-

Chinese Cine collaboration. Wearing his trademark

smile, Chan sang a Chinese song "I love my country,

I love the world" to a thundering applause accorded to

him by a packed audience at Siri Fort Auditorium.

In his second avatar as Chairman of Infosys, Mr. Murthy

has said that the task of "rebuilding a desirable Infosys"

would take at least 3 years and it would involve taking

some "tough decisions resulting in pain". Addressing

shareholders at the $7.5-billion IT company's Annual

General Meeting, he said, "Executing this strategy may

require me to change some of my long-held beliefs.

But then, I too believe in Sir Winston Churchill's words

that improvements require change and the quest for

perfection requires us to change as often as necessary."

N.R. Narayana MurthyJackie Chan

be a prosperity seeker

45

While it was Miss Connecticut Erin Brady who was

crowned 2013 Miss USA that night, it was fellow

contestant Miss Utah who bagged all the attention the

morning after. 21-year-old Marissa Powell's awkward

answer to a question from one of the judges on the

show went viral. But how does it matter if someone

botched an answer on US national television with a

fumbling, incoherent answer? It was fun to see how

the third runner-up of a competition could outscore

the winner, in terms of global reach. And for that, we

don't have to read too much into her "figure out how to

create education better" phrase!

Marissa Powell

name, fame, money, social work… know what gives you a kick!

After a struggle of over 14 weeks, Delhi boy Ripudaman

Handa won the Golden Apron, Rs 1 crore as prize

money and a chance to write his own cookery book as

Season 3 of Masterchef Kitchen Ke Superstars came

to a close. The 23 year old gym instructor won the

kitchen battle by defeating Doyel Sarangi, homemaker

from Kolkata and Varanasi-based Navneet Rastogi,

who comes from a family of caterers. For this season

of the popular show, auditions were held across 20

cities in the country, and the top 12 made it to the real

competition.

Ripu Daman Handa

46

quotemagic

“If you can dream it, you can achieve it.”

Zig Ziglar

Celebrated American author, salesman and motivational speaker Zig Ziglar died at the age of eighty-six at a hospital in the Dallas suburb of Plano, a city in the state of Texas. A World War II veteran, Ziglar became the top sales person in several organisations before he ventured out on his own as a motivational speaker and trainer.


eyecatchers

47

Shikhar DhawanCricketer, Indian National Team

Winner of the coveted 'Golden Bat' for scoring the most runs in the Champions Trophy tournament, explosive left-handed batsman Shikhar Dhawan dedicated his performance to the victims who had lost their lives in the recent flood that affected the state of Uttarakhand.


Understanding CIBIL Score

48

Credit Information Bureau (India) Limited

is India's first Credit Information Company

founded in August 2000. In the past,

lenders had to rely on their own assessment

of a customer before giving any loans or even

credit cards, but now the situation has changed with the

availability of individual credit information through CIBIL.

Lenders can now fetch details on your credit worthiness

from CIBIL. So now, all approvals for home loan, personal

loan, auto loan and credit cards and at what interest will

be determined by your credit score.

CIBIL already has a large database of customers with their

credit scores. Lending institutions dip into this database

for assessing their creditworthiness. Since now your

credit scores will be a key reason to determine your loan

sanction, it has become important for you to monitor your

credit score now that it is available from CIBIL. Elsewhere

in the world, if you haven't been given a loan on account of

a low credit score then you have the option of approaching

select lenders who specialise in lending to borrowers who

have recently come out of a bad credit situation. But this

system doesn't exist in India. So it becomes all the more

critical for you to monitor your score to ensure that your

loan does not get rejected on the grounds of a poor credit

score.

CIBIL already has a large database of customers with their credit scores. Lending institutions dip into this database for assessing their creditworthiness.


49

What does a CIBIL Score look like and how much is a good

score?

A credit score is generally a 3-digit number within the

range of 300 and 900. The higher the score, the better it

is. This score will reflect information from several lenders

and across various loans.

What is the information that a credit report contains?

The report contains basic details of the consumer (name,

id, etc.), personal details (date of birth, passport number

etc.), location details (address), details of bank accounts

such as auto loans, home loans, personal loans and

credit card (overdue accounts, highest amount of credit

sanctioned in case of credit card, overdue amounts -

oldest, latest, last payment, account ownership, closure,

sanctioned credit in case of credit cards and other cards,

number of times credit report requested by the creditor

along with the name, enquiry purpose, date and amount).

Is my credit score the same across different agencies?

As the source of information for each credit agency may

not be the same, scores are bound to differ. All the

lenders may not report to all the agencies. Besides, as

competition in this space increases, each player will want

to launch innovative products and new ways of capturing

information which may affect the credit score.

Is it okay to access my score from one agency only?

In countries such as US where individual credit scores

have been in existence for long, experience from market

information suggests that credit report of one agency may

differ completely from the other. Besides, there may be

errors in the report of any single credit agency which you

will spot only if you access your credit report from all the

agencies. In the US, evidence suggests that 25% of the

credit reports contain errors that are serious enough to

cause denial of credit. In order to ensure your financial

soundness, and also protect yourself from any credit

reporting errors, it seems logical to access your credit

report/score from all the agencies.

What if my credit score isn't correct?

Gurdeep (name changed) applied for a home loan from

a bank. The bank rejected his loan application on the

grounds that his credit report mentioned that he has a

long overdue outstanding amount on a credit card. This

took Gurdeep by surprise as the issue was amicably

settled with the bank, post which he stopped using

the credit card. He got the bank to acknowledge the

same and subsequently informed CIBIL, presenting the

acknowledgement from the bank as proof for his claim.

CIBIL then verified and incorporated the updated, correct

the information in his credit report and he was granted a

loan.

In case there is an error?

Errors are bound to happen due to incorrect reporting by

lenders or due to human errors. In such a situation, you

need to report the error to CIBIL with valid proof and if you

are not satisfied with the action you can lodge a complaint

with the banking ombudsman's grievance cell, which will

take up the issue and evaluate it from a neutral stand.

How often is the credit score updated?

Updating the credit report is supposed to be an ongoing

process. Lenders send updated data regarding an

account to the agencies. It depends on how may credit

accounts the individual has and when there is a change

in the credit data. The moment there is a change in the

credit data, it will reflect in the credit score.

What makes this system foolproof for lenders?

Akash has taken a home loan from Bank A and has been

paying his EMIs on time. Simultaneously, he has taken

an auto loan from Bank B and has defaulted on the last

few payments. If Akash now applies for a personal loan

from Bank A, assuming that since he has paid his home

loan EMIs with the bank in a timely manner, he may not

be granted a personal loan. This is because, he may not

be aware that Bank A has now obtained a credit score

from CIBIL (CIBIL has varied sources of information from

which it collates credit data and then arrives at a credit

score) where he shows up as a defaulter with another

bank. This could either result in a rejection of his personal

loan request or the bank might charge him a high rate of

interest.

What is the benefit of a good score to a consumer?

The most significant advantage of a good credit score is

that you can use it to negotiate with the bank for a more

favourable interest rate.


planetsavers

Hydroelectric PowerIt is the most efficient source of energy in comparison to coal, gas or nuclear. Countries like Norway, Sweden and Switzerland enjoy the highest standard of living in the world because they developed their hydro resources before going for other options. For that matter, even neighboring Bhutan which has a higher per capita income than us, makes extensive use of hydroelectric power.


First published in 1989, this is not just a

business and self-help book, but what some

might call a "manual for life". Translated into

38 languages, the book has sold more than

25 million copies worldwide and is a must

read by anyone who's serious about achieving success

and effectiveness in all facets of their lives.

The book begins with the astute observation that people

perceive the world differently and so, part of achieving

insight involves making a "paradigm shift" which causes

us to perceive things differently. After he has prepared

the reader for this, the author goes on introduce the seven

habits in a proper order.

bookshelf

Last time we checked, this book was available with www.flipkart.com at a discounted price of ` 275/- only.

The 7 Habits of Highly Effective

People Stephen R. Covey



Why Stop Multitasking

53

The ability to juggle work is a standard job

requirement these days. But researchers

have another name for this supposedly

desirable skill, they call it chronic multitasking.

There's been a lot of research on multitasking

over the last decade and they've all come up with one

conclusion i.e. Multitasking doesn't make anyone more

productive! In fact, studies have found that multitasking

can actually result in us wasting around 20-40 % of our

time, depending on what we're trying to do.

Multitasking is a weakness and not a strength. In 2010, a

study by neuroscientists at the French medical research

agency Inserm showed that when people focus on two

tasks simultaneously, each side of the brain tackles a

different task. Imagine trying to talk to someone and write

an email at the same time. Both of these tasks involve

communication and you can't really speak to someone

and write a really clear and focused email at the same

time. Since the tasks are too conflicting – your mind gets

overloaded as you try to switch between the two tasks.

Now think about listening to someone as you try to write

an email. These two tasks are still manageable together

and that's because they involve different skills. But it is

natural for your attention to fade in and out as you're

writing and trying to listen at the same time.

Research also shows that heavy multitaskers are less

competent at doing several things at once than light

multitaskers. In other words, in contrast to almost

everything else in your life, the more you multitask, the

worse you are at it and practice, in this case, works against

you. In fact the biggest problem with multitasking is that

it is bound to lower the quality of our work. Trying to do

two things or more things at once may not fetch good

results at all. When we're switching tasks, our minds

have to reorient to cope with the new information. If we're

doing this rapidly, like when we multitask, we simply can't

devote our full concentration and focus to every switch.

A major downside to multitasking is the effect it has on

our stress levels. Dealing with multiple things at once

does make one feel overwhelmed, drained and frazzled.

On the other hand, think of the satisfaction you've always

derived when you've devoted your full attention to one task.

You're able to focus, and you'll probably finish it feeling

as if you've not only completed something, but done it

well. When University of California Irvine researchers

measured the heart rates of employees with and without

constant access to office email, they found that those

who received a steady stream of messages stayed in a

perpetual "high alert" mode with higher heart rates. Those

without constant email access did less multitasking and

were less stressed because of it. And it's not only the

physical act of multitasking that causes stress; it's the

consequences, as well, says Winch. "If you do poorly on

an exam because you studied while watching a baseball

game on TV, that can certainly trigger a lot of stress—even

self-esteem issues and depression."

But by far the most telling effect multitasking can have on

our lives is that forget seeing the forest for the trees or the

glass half full—people who are busy doing two things at

once don't even see obvious things right in front of them,

according to a 2009 study from Western Washington

University. Specifically, 75% of college students who

walked across a campus square while talking on their cell

phones did not notice a clown riding a unicycle nearby.

The researchers call this "inattentional blindness," saying

that even though the cell-phone talkers were technically

looking at their surroundings, none of it was actually

registering in their brains.

When we're switching tasks, our minds have to reorient to cope with the new information. If we're doing this rapidly, like when we multitask, we simply can't devote our full concentration and focus to every switch.


Vaastu Guidelines for Your Garden

54

Vaastu Shree, Vaastu Visharad

Shri Naresh Singal,

Vaastu & Feng-Shui Consultant.

For any further queries on the

subject, readers can contact him

on [email protected]

If there is sufficient space left after construction of a house, people generally prefer to have a small garden and

few prefer larger garden. Those who have lesser space they go for either small terrace garden or plantation in

balcony. This tendency is growing faster in metro cities.

Most often they ask for the Vaastu guidelines for garden. Here the guidelines for the garden plants are

explained as per Vaastu. These guidelines will surely help you if you have a garden in your house or if you are

planning to have a small garden in your premises.


GARDEN COMPONENTS AS PER VAASTULAWNS

The Lawns should be in the East or the North, where a

swing with North-South axis can be placed.

PATHWAYS

The pathways should be curvy and should not be straight.

FLOWER POTS

The flower pots should not be kept on the compound

wall as it increases the height of the wall, specially the

wall of North, East or North-East. They should be placed

on the ground in these directions, but they should not

be taller than 3 feet and the water should not get logged

under them.

WATER BODIES

A small water-fall can be constructed in the East or the

North leaving the North-East corner of the garden. If

there is a swimming pool in the garden, it should be in the

North or North-East direction. A small pond, whose water

is regularly changed, can be constructed in North. A fish

pond can be had in the West part of the garden.

BENCHES

Benches are useful in big gardens and can be placed in

the open space in the East and the North direction so that

people sitting in these directions face either East or West.

OTHER USEFUL TIPS FOR GARDEN

As a general rule, gardens in homes or factories should

always be in the North or West and within the confines of

the compound. Here are few simpler Vaastu suggestions

for the garden within the house limits:

A Basil plant is a very positive influence within the limits

of a house.

Plants of Palm, Paras Peepal, Pakar, Sirish, Neem and

Bilva, if planted in proper direction, that is the North or

the West, bring favourable results.

Bilva, Madhuka and Peepal are very favourable on the

West of the house limit.

Goolar is good towards the South of the house compound.

Kanakchampa in the North brings virtues and wealth.

Coconut and Banana plants within house limits are very

good for mental peace and health.

A water pond in a favourable direction, with Lotus, brings

fortunes.

The entertaining unit for the children is recommended

towards the North-West of the garden.

As far as possible plantation should be avoided in the

South, South-West & North-West corners.

No large plant should be planted exactly in the centre of

a site.

Thorny succulent plants must not be grown within the

house limits. Cacti are considered very dangerous and

harmful for a residential unit. They purport to bring

tensions and create fractious relationships.

The Ber plant should not be cultivated within the house

limits. It increases enmity.

Bamboo should never be grown within the house limits in

the ground.

A swimming pool in the centre, towards the South, South-

East or South-West and even the North-West create undue

events. It brings negativity in the health of the residents.

A swimming pool is good in the East, North or even in the

West.

The fountains or water ponds within a house limit should

not be built in the centre and should follow the same

principles as the placement of swimming pools. Placed

wrongly, they cause problems with respect to mental

peace and health.

Fountains or ponds are very good towards the North-East.

This is also applicable to artificial springs.

Huge, heavy statues or other exhibits are best towards the

West, South or South-West.


56

Are You Going To Help?

State Governments, Corporates, Businessmen, NRIs, Professionals, Housewives, Students... in this hour of need, we've heard of help pouring in from all quarters for victims of the monstrous Himalayan Tsunami that ravaged the State of Uttarakhand in June this year. Some of the most motivating instances in this regard is the donation of Rs 10 lakh by a section of prisoners along with the staff of Tihar Jail, or the sum of Rs 20,000 deposited in the Prime Minister's Relief Fund by a group of young ragpickers in New Delhi. You might be someone who's already done his part, but to those readers who're still thinking about this, our message is:

"PLEASE CONTRIBUTE. IT WILL TAKE MONTHS, IF NOT YEARS FOR PEOPLE'S LIVES TO COME BACK TO NORMAL IN UTTARAKHAND. WITH YOUR CONTRIBUTION, YOU COULD REDUCE THEIR PAIN AND MISERY."

UTTARAKHAND TRAGEDY

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