property & wealth feb issue

08

11BRICKS

Investment in property isn’t just meant for grown-ups. If you’re in your first job after college and looking to get married soon, consider buying your own first house beforehand.

Chandigarh Capital Region Delhi NCR

Punjab / Haryana Himachal

REAL ESTATE PROJECTS

Publisher & Editor-in-ChiefJasmeet [email protected]

Editor Pankaj Sharma [email protected]

Feature Writers Priya Ghai, K.Singh, Rupinder, PD, Sheetal Singh

Art Director Rajesh Kumar

Graphics TeamBhupinder, Gagan, Sanju

Advertisement & SalesSandeep Kapoor, (M) 9818510511, [email protected]

Sales & SubscriptionMr. Ajay Gupta(M) 9216841278

Photography Rohit Bhatia

Pre Press Team: NBC, GopalProduction Team: Upinder, Vikas, Vijay

Advisory BoardHarpreet Pooja & Associates, Architects Rajiv Gupta & Associates, Chartered Accountant Vikas Chatrath, Advocate

Published, Owned and Printed by

Sh. Jasmeet Singh

at Plot No. 437-A, Industrial &

Business Park, Phase - II, Chandigarh

Printed at M/s Savitaar Press,

Plot No. 820-21, Industrial Area

Phase - II, Chandigarh

CONTRIBUTORS AND

ASSOCIATES

contentsFebruary 2012 COVER STORY

[email protected]

Design & Print Production

19SAND REAL ESTATE & INFRASTRUCTURE NEWS

20

21

regional Permission required for construction

DLF Garden City Gurgaon

Gurgaon SEZ land demanded back by Haryana

Monorail expected by 2017 in Delhi

Parsvnath Developers Q3 net profit down 28%

nationalLIC Housing Finance floats urban development PE fund

Black money in Real Estate sector under scrutiny

Home loans may get cheaper

Fitch assigns negative outlook on Indian real estate sector

Govt. approves Rs 5,388 cr road projects in 3 States

Mumbai flat draws record price

BUY A HOUSEBEFORE YOU MARRY

An increasing number of young people are turning

to investment in property as a long term anchor to

their savings. “Buy a home – before you marry” is

about young salaried people going in for purchase

of property before they get married.

Limited Liability Partnership might’ve been recently

introduced in our country but it’s an established

concept in other countries of the world, especially

in the service sector. The concept of LLP combines

the organizational flexibility of a partnership firm

coupled with the advantage of limited liability

for its partners. A preferred vehicle for real

estate investment from a taxation standpoint, the

process of forming LLPs is very easy as compared

to Companies.

Declared a UNESCO World Heritage Site on 28

June 2007, The Sydney Opera House is one of the

20th century’s most distinctive buildings and one

of the most famous performing arts centres in the

world. With more than seven million people visiting

the site each year, it is one of the most popular

visitor attractions in Australia. It was designed by

Danish architect Jorn Utzon who’d won the design

competition launched to identify the best design

for the opera among 233 entries representing

architects from 32 countries. Ironically however,

he wasn’t invited to the opening ceremony of

the building in 1973 by Elizabeth II, Queen of

Australia.

about this issue

Pankaj SharmaEditor

4038

3236

realty coachGo property shopping with friends

flipsideCREDAI adopts 23rd Jan as ‘Mission Transparency Day’

in your good booksThe Total Money Makeover by Dave Ramsey

soft cornerAkshaya Patra Programme

25CEMENT

PROFESSIONAL KNOWLEDGE & MOTIVATION

22

23

international

Boom Time in Dubai Property Sales

Nike to develop new China HQs Campus in Shanghai

“New Cities Summit” in Paris this year

An equestrian village in France

NRIs send $4.6 billion dollars home

Vancouver beats Sydney in unaffordability index

eye-catchers

real estate championYatzhak Tshuva

architectural marvels Sydney Opera House

Becks, Posh redesigning their homes using feng shui

Juhu flat for newly-wed Bollywood couple

26

28

editorial

People generally take a home loan after they get married as they

feel that home is needed only when they have a family. I don’t

understand why they plan so late. An educated youngster gets

a job at around 21 to 23 years of age and provided he/she is

getting a salary of more than 20k a month, home loan can be

taken at a young age. Before you marry, as a young individual

your debts & expenses are at minimum and your capacity to

work is at maximum. And by the time one gets married, about

60% of home loan would already have been paid.

Starting this issue, Property & Wealth magazine is adopting the

mission, ‘to encourage all youngsters to buy a home before they

marry’. This month’s cover story is first step towards the mission

and in subsequent issues you will find it a monthly feature with

guiding steps on how to actually make this possible i.e. ‘buying

a home before you marry’. We as publication intend to carry this

objective so passionately that we would be blunt to the extents

that take a car loan only after you have sufficient money to pay

for home loans. Your children can go without a car ride but they

deserve a roof on their heads.

We believe, owning a house and having paid at least 60% of

the home loan before you marry, would ensure a comfortable

financial future to you and your family. Typically a bank assumes

that about 55-60 % of your monthly disposable / surplus income

is available for repayment of home loan. If you are not married

this may be even taken 75%, at least for your own calculation of

paying capacity. If your home loan is paid by the age 35 years,

this ensures a decent financial future as future surplus income

after having repaid the home loan can be fruitfully used for

higher education of children and for affording luxuries of life.

Buy a home before you marry

Jasmeet Dhamija Editor-in-Chief

[email protected]

A PG in Mass Communication, Jasmeet is heading

one of the most reputed publishing units in

Chandigarh for the past 12 years. He’ s worked for

a leading national daily in the past followed by a

successful stint with a leading national publication

as Chief Editor. The journalism bug never left him

and his keen interest in property business resulted

in the formation of this magazine.

goes interactive www.facebook.com/propertyandwealth

Maninder Singh is a 29-year old electronics engineer

from Chandigarh. He is today the proud owner of a two-

bedroom apartment in Zirakpur, for which he has already

paid 83 EMI’s out of 120. Heeding to self advice an year

into his job with an MNC in the Tricity, Maninder followed

his mission to buy a house before he gets married. He

went in for a home loan at young age of 23, with no other

debts to bother him. The EMI plan was executed without

a hitch as he choose to buy a car only after he has owned

a flat of his own. He is all smiles today as his property has

appreciated in value, reaching a price tag which he might

find difficult to afford today.

The biggest advantage for young investors in property

is that they have time on their side. A home loan is

undoubtedly a huge financial commitment. But still, a

well-handled home loan early in one’s career can fetch

lasting returns in the long run which makes it a challenge

worth taking up. As time goes by, Maninder may choose

to reside in that house with his family or consider what

returns the asset could give to him as an investor. In the

latter case, he could either rent out the property and earn

a stable income or fix it up a bit and sell for a profit. It

seems to be a win-win situation for him, either way.

Marriage is on the cards for the young man in the coming

year. As he is also expecting his first promotion around

the same time, Maninder seems to have to have laid the

foundations for a comfortable life ahead. Marriage does bring

with it a load of responsibilities and owning a home before

one gets married

is a particularly

good decision.

Investment in

property isn’t just

meant for property

dealers per se. Nor

is it an investment

medium meant for

the rich. Property

can be owned

by anyone who

earnestly wants

to do so and is

able to garner his/

her resources

effectively and in

time. Our friend

here is most likely

to reap the benefits

of his foresight and somewhere in his mind, the two-

bedroom apartment he has been able to set aside as an

asset while he is young, will always be a source of strength

and satisfaction in his later years.

Let’s assume you’re one of our young readers who would

like to be in Maninder’s shoes. Or you might be a parent,

friend or well-wisher who would like to pass on similar

advice to a dear one. Purchasing property for the first

time can be quite an experience in itself and the following

Cover Story

... to live happily ever after!

BUY A HOUSEBEFORE YOU MARRY

PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 608

general guidelines can be of immense value to the

purchaser:-

Yes! I’m buying a house

The most important thing to remember while going in for a

first-time purchase is that buying a home isn’t necessarily

a one-time exercise. Don’t wait for the ‘perfect’ place

at the ‘perfect cost’ to show up. Postponing that first

purchase indefinitely may prove counter-productive.

There’re many people out there who kept putting off

‘project home’ indefinitely, on some pretext or the other,

only to find themselves without a roof over their heads in

their 50s.

Money matters

Plan to buy a house you can afford and borrow only as

much as you can repay comfortably. In most cases, the

initial down payment is the biggest challenge. While it’ll

be ideal to meet this challenge with your own savings, it is

usually ancestral property or the ‘best wishes’ of friends/

09

It pays not to ignore suggestions on location,legal processes and finances before going in for a huge financial commitment like buying a house

VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012

relatives which eventually come in handy while raising

funds.

Don’t hesitate to consult your elders before taking the

final plunge. It pays not to ignore suggestions on location,

legal processes and finances before going in for a huge

financial commitment like buying a house. You also

needn’t indulge in extravagant furnishing like wood work,

drapes and décor. There is no limit to what one can spend

on amenities these days.

Location issues

Perhaps the most crucial element when deciding on a

home purchase is the choice of location. Do you intend

to settle down in the same city or does your work profile

require you to relocate to another State? In case you’re

required to travel a lot, it would be advisable to select

a location where your parents or relatives stay. In your

absence, they can monitor the construction work and

take care of legal formalities.

Selection of a good location also implies finding a safe

neighbourhood. Availability of schools, colleges and

healthcare facilities in the vicinity are advantageous. For

people who’re willing to travel some distance to work, they

may look for a cheaper option in comparison to prime

locations.

Research does count

Try and ascertain the right asking price for properties in the

area which interests you. It is a time-consuming activity

but you really need to meet as many property dealers

to be able to make a fair assessment. Also, there’re

many good property related websites one can look up

nowadays. Websites like magicbricks.com, 99acres.com

or makaansearch.com may prove immensely beneficial,

what with their ever-increasing operational range as well

as improving services.

Lender

A home loan is a long term commitment spanning 15 years

or more. Explore the market to choose a good housing

finance company keeping in mind factors like quality of

services offered, loan procedures and safe retrieval of title

deed.

Credit History

An impeccable track record of prompt repayment is one

of the first requirements your finance company would

be interested in. A history of default on credit card or

vehicle loans will reflect poorly on credit score. Young

home loan applicants generally have the advantage of

lower debts since they have no major financial obligations

and commitments.

Conclusion

Owning a house for your residential purpose is always a

priority. Rarely does one hear of cost of property coming

down. Increasing cost of property and home loan interest

rates also drives house rents up. “The sooner, the better,”

one would say and frankly speaking, any time is a good

time to buy a house for self-occupancy. If you get a house

that fits your budget and requirements, just go for it.

10

Cover Story


EMI affordability chart (before marriage - with 75% assumed disposable income

Monthly Salary Disposable Income 75% Flat Cost Loan Amount Loan Tenure EMI

21300

37500

47500

59500

15975

28125

35625

44625

2250000

3200000

4200000

5200000

1600000

2560000

3360000

4150000

240

180

180

180

15975

28299

37142

45875

` ` ` `` in months

BRICKS = REAL ESTATE PROJECTSThe first requirement of building a wall is to get bricks and the first requirement of dealing in property is to know about the Real Estate

projects undertaken by various developers across the country.

Location: Township Derra Bassi, 12 kms from Chandigarh.Highlights: 300 acre integrated township Club with swimming pool, squash court,indoor sports, basket ball. Spacious Apartments with abundant parkingOptions: 3BHK, 4BHK, Penhouse.Villas, Plots

ATS Golf Meadows

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 66, MohaliHighlights: Mixed Use Residential, Office, mall & 5 star Hotel SiteOptions: 2BHK, 3BHK Residential Apartments,Office Space, Mall Space

Bestech Square

BudgetPlanner

BudgetPlanner

in lakh

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

Disclaimer Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific

& accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

CHANDIGARH CAPITAL REGION

Location: Sector 116, Greater Mohali Kharar - Landran Road.Highlights: IT & Institutional set ups nearby. Golf Course &Ansal Plaza coming up in vicinity.Options: Independent Floors, Plots, SCO’s

Ansal API Golf Links - II

BudgetPlanner

BudgetPlanner

in lakh

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

12

Location: Gazipur, near proposed Golf Course, ZirakpurHighlights: Keyless biometric entry, every flat is corner & facingpark, hi-tech securityOptions: 3BHK only

Aero Homes

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sohana-Landran Road, Sector 90, MohaliHighlights: IT/ITES office spaces, roof top garden, 100% power backup, 24X7 hi tech secutiry. Invest 23 lakhs & get 23000- per month.

Accord Corporate Square

BudgetPlanner

BudgetPlanner

in lakh

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

Location: DLF New Chandigarh, Mullanpur, PunjabHighlights: Punjab’s First Eco Town, Foothill of Shiwaliks, Club House, 11 acres of greens100, 120 feet wide approach roads.Options: 350 and 500 sq yards plots

DLF Hyde Park Estate

BudgetPlanner

BudgetPlanner

in lakh

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

For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]


Location: Sector 112 Mohali Banur Highway, adjoining Chandigarh group of collegesHighlights: 50% green area. Shopping mall, site for 5 star hotelOptions: Booths, SCOs, residential plots 200, 250, 400 & 500 sq yards

RKM City

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Pinjore Kalka Urban Complex, Sector 3Highlights: Panoramic View of the hills, site is situated on a plateau. only about 9 kms from Housing Board Colony Panchkula.Options: Independent Floorscurrently available only on resale

DLF Valley Panchkula

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Pinjore Kalka Urban Complex, next to DLF Valley & Amravati EnclaveHighlights: Surrounded by river & dam site on one end, mountains on the other end. 200 acre township with huge club houseOptions: Plots & Villas, 250,370,500,1000 sq yds.

IREO Five River

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 90, MohaliHighlights: World Class Building designed by Hafeez ContractorIn close proximity to Phase VIII B, an upcoming IT destination with several MNCsOptions: 3BHK and 4BHK

Multitech Tower 2

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 98 and 99 MohaliHighlights: Ireo Hamlet is 32 acre gated township with club of its own.Options: Plots 250, 350 sq yards, Villas and low rise, mid rise 1BHK, 2BHK, 3BHK apartments.

IREO Rise & Hamlet

BudgetPlanner

BudgetPlanner

in lakh

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




13

Location: VIP Road, ZirakpurHighlights: Sky banglows with drawing cum Dining Room,Family Lounge, Home Theatre room, Mandir, Store and Servant QuarterOptions: 88 flats of 4000 sq ft each and 8 penthouses of 7000 sq ft each

Ojas Grand, Zirakpur

BudgetPlanner

BudgetPlanner

in lakh

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



Location: VIP Road, ZirakpurHighlights: AmphitheatreCommon Library, Club, Gym, Jogging Track. Ultra Modern UPVC Windows to keep your house insulated.Options: 2, 3, 4BHK Apartments

Savitry Greens

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 3 BHK & 4 BHK Duplex apartments near upcoming Golf CourseOptions: 3BHK & 4 BHK Duplex aprartments.

Sushma Crescent

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 85, MohaliHighlights: Spread over 300 acres, Wave Estate has already completed all basic infrastructure needs. Greens & landscapes are well planned.Options: Plots, Villas, charming floors and plush condominiums

Wave Estate

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Chandigarh-Ambala HighwayHighlights: Designed by R204DESIGN, leading US architecture firm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming poolOptions: 3BHK flats 1885 sq ft.

Sushma Chandigarh Grande

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 97, 106, 107 MohaliHighlights: 300 acres integrated townshopOptions: Plots 360 to 500 sy yards Gardens Apartments 2BHK, 3BHK, Independent Floors

Unitech Uniworld City

BudgetPlanner

BudgetPlanner

in lakh

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




14

Location: Sector 115, Greater Mohali Highlights: Experience ‘Urban Living at its Best’ with planned infrastructure and world class amenities- all catering to the contemporary lifestyle. Options: Studio Apartments, 2bhk, 3bhk, 3bhk Penhouse

WWICS Imperial Heights

BudgetPlanner

BudgetPlanner

in lakh

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



Location: Sector 86, just 700 mtrs from Delhi Gurgaon ExpresswayHighlights: Possession to be offered in 3 yrs from bookingSecured gated community Adjoining the DLF project IFFCO Chowk - 15 minutes driveOptions: 2BHK, 3BHK, 1350 - 1890 Sqft

Ansal Heights 2

BudgetPlanner

BudgetPlanner

in lakh

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

Location:NH-8, Sector 83, GurgaonHighlights: Modern gated 22 acres development , 8 Acres Central Landscaped Greens and Park, Near to ISBTOptions: 1,720 Sq.Ft. to 3,750 Sq.Ft. , 3BHK, 5 BHK Ground Floor, Duplex and Penthouse

Emaar MGF Palm Gardens

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 110, GurgaonHighlights: Full feature clubhouse, Themed Landscapes, high-Response Security systems, World-Class fitness and Sports facilities, Green Architecture, Options: 3400, 3900 sq feet, 4BHK, 5BHK

India Bulls Enigma

BudgetPlanner

BudgetPlanner

in lakh

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



DELHI NCR

15


Location: Jaypee Sports City, Greater NoidaHighlights: Tropical architecture, Yoga, aerobics, spa and massage rooms, India’s 1st Formula One Racing Track Options: 1, 2, 3, 4 BHK personal suites

Jaypee Greens Kassia

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Noida-Greater Noida ExpresswayHighlights: Foodball field, cricket field, cycling track, tennis& basket ball courts, Unique Y shaped apartments.Options: 2, 3, 4 BHK Apartments

Jaypee Greens, Garden Isles Towers

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 67, GurgaonHighlights: Singapore theme Luxury Residence Compact & Well ventilated Units Modern and Youthful productOptions: Area 1800 Sq.Ft. to 5500 Sq.FT.3BHK, 4BHK, Penthouse.

M3M Merlin

BudgetPlanner

BudgetPlanner

in lakh

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


DELHI NCR



16


Location: Sector 137 NoidaHighlights: On Noida – G.Noida Expressway, South Delhi is 15 min. away thru DND flyoverSector - 18 Noida, Market is 10 minutes away, Amity University, Lotus Public School are in close vicinity.Options: 2BHK, 3BHK

Paras Tierea

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 93, GurgaonHighlights:80% GreeneryMeditation court, nature park3 side open apartmentAmphitheater & GymnasiumOptions: 2 / 3 & 4 BHK Residential Apartments 1297 to 2532 sq.ft.

Spaze Privvy

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector – 37 D, Ramprastha City, GurgaonHighlights: A township spread over 450 acres, 0 km from Dwarka Expressway & Metro Station, 15 min. drive from IGI Airport. Options: Premium Condominiums 1725, 1750 and 2025 sq feet 3 BHK

Ramaprastha City

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sector 82, GurgaonHighlights: Strategically located, In close proximity to proposed metro stationOptions: 2/3/3+1/4 BHK

Universal Aura

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Raj Nagar Extension, GhaziabadHighlights: Executive Luxury Flats, Private garden space and open terrace, Earthquake resistantOptions: 1/2/3 BHK 615 – 1350 sq.ft

SCC Heights

BudgetPlanner

BudgetPlanner

in lakh

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

Location: NH-8, DharuheraHighlights:Latest architectural standards & Vastu norms, just a few minutes away from shopping malls, hospitals, schools and other public utilities.Options: 1,2 & 3 BHK

Vipul Gardens

BudgetPlanner

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in lakh

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




PUNJAB / HARYANA

17


Location: Nakodar Road, JalandharHighlights: Jalandhar’s First integrated township, a new world of integrated living in an exquisite residential township spanning over 80 acres.Options: Villas, floors and

residential plots 200 to 350 sq. yds

Eldeco Greens

BudgetPlanner

BudgetPlanner

eward yourself with an improved lifestyle.R

in lakh

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

Location: Nakodar Chowk, JalandharHighlights: Total Built-Up Area is 14864 sq mts approx with 3 floors of retail and 3 floors of offices.Options: Retail outlets, commercial office space, food court, cafe’s.

DLF Galleria

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Turning off the NH 95 near the Ludhiana-Ferozepur Road, a short drive along Sidhwan CanalHighlights: 500 acres with glittering lake at its centre, beautiful layouts, green environsOptions: 3-5 BR villas and apartments from 3000-8000 sq ft

Ireo Water Front

BudgetPlanner

BudgetPlanner

in lakh

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

Location: GT Road NH 1 Opposite Mac DonaldHighlights: 5 impressive residential towers going up to 12 floors with excellent space management, ergonomic interiors and delightful amenitiesOptions: luxurious 3 BHK,4 BHK duplex, 4 BHK with utility

DLF Park Place Jalandhar

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Sectors 28 & 29 HUDA on National Highway1, KarnalHighlights: Spread across more than 300 acres, Karnal’s first truly world-class developmentOptions: Residential & Commercial

Alpha International City

BudgetPlanner

BudgetPlanner

in lakh

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

Location: Unitech Unihomes Sector 16 AmbalaHighlights: UNIHOMES is well connected to rest of the city and Haryana with Narnaul and Jhajjar highways running closeOptions: 2 BHK & 3 BHK lowrise affordable flats.

Uni Homes Ambala

BudgetPlanner

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in lakh

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


HIMACHAL

Location: 3km from Solan on Solan Sabathu Road.Highlights: Registry for built up area for built area Even for non Himachlis. Enjoyable weather round the yearOptions: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.

Amravati Hills

BudgetPlanner

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: Simla Hills, Bemloi, Near CPRI complexHighlights: Luxury Cottages Priced between 2.5 to 3.9 crores.Simla’s first residential gated complexOptions: Super area varies from 2700- 3100 sq feet. Luxury Cottages.

DLF Samatara

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




18 PROPERTY & WEALTH-FEBRUARY 2012, VOL 1, ISSUE 6

SAND = REAL ESTATE & INFRASTRUCTURE NEWSAfter bricks, the next building material which comes to mind is sand, which we’ve

equated with current news related to Real Estate and Infrastructure.

20

Evader, Inc. subsidiary ASCC has announced that it has

launched Phase 1, a 480-unit integrated group housing

project, in New Chandigarh valued at around 165 crores..

ASCC is India’s leading real estate company and even

though there are several plotted developments in the region

by majors like DLF and Omaxe, this is the first integrated

group housing project developed in New Chandigarh

(Mullanpur) by a national real estate player. It’s situated

on 11 acres of lush greenery and 75% of the total property

area has been reserved as open space for the comfort

of residents. The project offers eight-floor buildings with

a total of 480 units located on the periphery of the city.

These ultra-modern apartments range in price from Rs.

19 to 35 lakhs and are available with two bedrooms, three

bedrooms and three bedrooms with attached servant room.

The project comes with 100% power back-up, health club

and swimming pool. There’s around the clock security and

water supply and a provision for gas being piped in.

In a recent development, the Delhi government has given

an in-principle approval to a 10.8 km elevated monorail

link between Shastri Park Metro Station and Trilokpuri via

Laxmi Nagar in East Delhi. The link is expected to be

functional by 2017. In the coming years, the monorail

is expected to roll in other major cities like Mumbai,

Chennai, Bangalore and Jalandhar. The transport system

has proved to be highly successful in crowded areas of

Japan, Malaysia and the United States of America.

The Haryana government is in talks with Mukesh

Ambani-led Reliance Industries (RIL) to take back 1,383

acres in Gurgaon as the company has failed to develop

the SEZ over the same. The company had entered into

an agreement with the State government in 2006 to set

up SEZ in Jhajjar and Gurgaon by setting up Special

Purpose Vehicle Reliance Haryana SEZ. Reliance

Haryana SEZ is a joint venture between Reliance

Ventures, a RIL subsidiary, and Haryana State Industrial

and Infrastructure Development Corporation (HSIIDC).

With Gurgaon-Manesar Master Plan 2025 fuelling a

boom in realty, real estate major DLF has announced

plans to develop a new zone spread over 450 acres by

the name of DLF Garden City located in Sectors 86, 87,

90, 91 and 92. This zone will comprise of group housing,

commercial and plotted development and the land is

nestled in the lap of 1000 acres open spaces.

The plotted development will offer plots of different sizes

ranging from 250 to 502 square yards.In keeping with

DLF’s signature statement, DLF Garden City will offer

all luxurious facilities such as 24X7 power backup,

community shopping, landscaped greenery, 24X7

security, gated communities, rain water harvesting, and

recreational facilities. They have joined hands with a

leading school to cater to the educational needs of the

residents.

Parsvnath Developers has reported a drop of 28 per cent

in its consolidated net profit because of higher inflation,

input costs, administrative and manpower cost as well as

higher cost of funds.

“This has collectively put pressure on margins,” said

Pradeep Jain, chairman, Parsvnath Developers. net

profit in the quarter ended December 31, 2011 fell to

Rs 22.54 crore from Rs 31.37 crore a year ago. The net

revenues, however, rose rose 7% to Rs 239.6 crore, from

Rs 224.4 crore.

Evader Inc Group Housing at New Chandigarh (Mullanpur)

Monorail expected by 2017 in Delhi

Gurgaon SEZ land demanded back by Haryana

DLF Garden City Gurgaon

Parsvnath Developers Q3 net profit down 28%

regional news


Black money in Real Estate sector under scrutiny

Home loans may get cheaper

national news

21

LIC Housing Finance Ltd, or LICHFL, a subsidiary of

the country’s largest insurance company LIC, recently

launched a Rs 500-crore urban development fund. The

company announced its first closure at Rs 200 crore and

the fund is expected to raise the entire amount in 8 to 9

months. Both LIC and LICHFL have committed Rs 50

crore each to the fund. The fund will make investments

in companies involved in the development of mid-income

affordable housing schemes and income yielding micro

infrastructure asset through equity and equity-related

instruments.

The National Institute of Public Finance and Policy (NIPFP)

is conducting a study called ‘Estimation of Unaccounted

Incomes in India’ which means to review recent property

deals to check for the use of black money in the country.

The research was commissioned last June by the Central

Board of Direct Taxes, which falls under the Union finance

ministry. Incidentally, the first study on unaccounted

money was conducted by NIPEP in 1985 wherein the

estimates-which are not considered reliable-varied from

$462 billion to $1.4 trillion.

Rating agency Fitch has assigned a negative outlook to the

real estate sector for 2012 due to weak demand and high

cost of construction. As per Fitch ratings, high equated

monthly installments, resulting from significantly higher

interest rates, besides lower household surplus due to high

inflation and high residential unit prices, have reduced

affordability for properties. The Indian real estate market,

bruised by economic slowdown blues, will continue to be

subdued in 2012 on the back of weak demand and higher

construction costs.

The Govt. has approved three road projects in the states

of Himachal Pradesh, Haryana and Andhra Pradesh

entailing a total investment of Rs 5,388.36 cr. The Cabinet

Committee on Infrastructure cleared widening of Kiratpur-

Ner Chowk section in Himachal Pradesh at a cost of Rs

2,356.20 cr. The widening of 84.38 km stretch on National

Highway (NH) 21 will be implemented under NHDP phase

III. The project, on completion, will reduce the time and

cost of travel for traffic plying between Kiratpur and Ner

Chowk.

A 21st floor flat in Cuffe Parade’s Jolly Maker 1 building in

Mumbai was sold at a whopping price of Rs 29 cr at the

rate of Rs 1.11 lakh per sq ft. The highest rate ever in the

past was Rs 1.02 lakh per sq. ft. for a 19th floor duplex

flat in Worli’s Samudra Mahal which was sold for Rs 37.25

cr in 2010. The four-bedroom apartment, with a closed

garage with two car parks, was sold by the Jagwani family

(which runs a jewellery business) to Ashok Patni, one of

three brothers who own Patni Computers.

Home loans may soon come at more favorable terms for

borrowers, with the concept of mortgage guarantee set to

take off in the coming weeks. Mortgage guarantees will

ensure softening of interest rates as well as more credit

availability for retail home loan borrowers. India’s first

mortgage guarantee company, India Mortgage Guarantee

Company, will soon go operational. With mortgage

guarantee, which is basically a risk-mitigant, a home loan

borrower may be able to reduce his equity for taking a

loan.

LIC Housing Finance floats urban

development PE fund

Mumbai flat draws record price

Fitch assigns negative outlook

on Indian real estate sector

Govt. approves Rs 5,388 cr road projects in 3 States


22

The value of property transactions in Dubai increased by

20% during 2011 reaching AED143 billion for the year,

the latest data from the emirate’s real estate watchdog

shows. The Real Estate Regulatory Authority (RERA) said

that sales were boosted by 6,400 new property investors

who entered the market.

Dubai’s property market was devastated at the end of

2009 when a boom turned to bust as overseas investors

and domestic buyers deserted the market and this is the

first official sign that they are returning.

NIKE, Inc just announced plans for the development of a

new centralized campus for Nike’s employees in Shanghai,

China. The nearly 600,000 sq.ft. headquarters will be

built at The Springs, Tishman Speyer’s newest mixed-

use development in Shanghai’s Yangpu District. Nike’s

investment in developing this new centralized campus will

support its long-term business growth strategy in China,

where it celebrated 30 years of business in 2011. The

Springs is Tishman Speyer’s largest project in China and

follows the development of previous successful commercial

projects in Tianjin and Chengdu.

The New Cities Foundation, a Swiss non-profit organisation

dedicated to urban innovation in 21st century cities, will

hold the inaugural New Cities Summit from May 14-16,

2012 in Paris, France. The annual New Cities Summit

aims to be the leading annual global event on 21st century

urbanisation, with a unique focus on urbanisation in fast-

growing economies in Asia, the Middle-East and Latin

America. NCF’s work examines the complex challenges

which many Indian cities are faced by such as poverty,

social exclusion and environmental degradation.

France’s first equestrian village is being built in Moulin-

Haut in south west France aimed at buyers in the over 50

age range who want to live in a community with sporting

and outdoor activities. The development is being styled

as an Equestrian Village as research indicates there is

a demand among people aged 50 and over to have a

healthy and active lifestyle which horse riding can provide.

Developer, The Villages Group, is minimising the use of

concrete, aiming for maximum energy retention with

the use of high levels of insulation and energy reducing

glazing.

An estimated 30 million NRIs (non-resident Indians)

worldwide sent nearly $4.58 billion in remittances back

home regularly last year according to the World Bank,

as they continue to drive international property sales to

record highs in the sub-continent. India has pipped

China in receiving the highest amount of remittances

for five consecutive years now. China is thought to have

received $4.57 billion. Working abroad in at least 130

different countries, NRIs are driving a boom in domestic

house prices in India as they seek to invest in property.

Vancouver’s property market has overtaken Sydney’s as

the most unaffordable in the world behind Hong Kong

according to a new study. Research group Demographia,

in its study of 325 metropoiltan areas world wide,

revealed that Vancouver’s median homeprice is now

$678,000…10.6 times the median pretax household

income of $63,800, making it “severely unaffordable”.

Sydney’s home price to income ration was 9.2, while

Hong Kong topped the ranking with 12.6… a record for

the survey, surpassing Los Angeles’ 11.5 in 2007.

Boom Time in Dubai Property Sales

Nike to develop new China HQs Campus in Shanghai

“New Cities Summit” in Paris this year

An equestrian village in France

NRIs send $4.6 billion dollars home

Vancouver beats Sydney in unaffordability index

international news


Becks, Posh redesigning their homes using feng shui

Juhu flat for newly-wed Bollywood couple

eye-catchers

The Beckhams are reportedly preparing

for their fourth baby’s arrival in the

summer by giving their London and Los

Angeles homes a feng shui makeover.

Pregnant Victoria has hired 600 pounds-

an-hour interior designers to overhaul

their mansions. The 36-year-old former

Spice Girl ordered that the decorations be

done in keeping with the ancient Chinese

art of feng shui, which looks to find the

right balance of life forces.

Riteish Deshmukh and Genelia D’Souza, who were

pronounced man and wife a few days back are all set to

shift to a flat in suburban Mumbai. Designed by Riteish

and approved by Genelia, it seems the flat reflects both

their tastes. Riteish-Genelia’s eclectic wedding was spread

over two days, with two kinds of weddings – while the

Deshmukh family conducted a Maharashtrian wedding

with much pomp and show, the D’Souzas played host to a

grand Christian ceremony.

23VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012

CEMENT = PROFESSIONAL KNOWLEDGE & MOTIVATIONCEMENT is known for its binding property and in this Section, we’ll be fortifying the information gained in previous Sections with some

Professional Knowledge & Motivation

A leading Israeli businessman and noted philanthropist,

Yitzhak Tshuva is currently ranked 440 in Forbes

Magazine’s list of World’s Billionaires with an estimated

net worth of $2.6 billion (as of March 2011). Yitzhak

leads the Delek Group, a major oil and gas exploration

and production company based in Israel and also owns

real estate company the El Ad Group.

Born into a poor family of 11 who crammed into a single

room after immigrating to Israel from Libya in the 1940s,

this self-made real estate entrepreneur started his career

penniless. With literally no formal education, Yitzhak built

his success story based on sheer hard work, intelligence

and expertise. He became a contractor after leaving his

compulsory service in the Israeli army and earned a tidy

fortune in the construction boom that coincided with the

influx of Soviet Jews to Israel during the 1980s and early

90’s. The year 1998 marked a turning point in his life,

when he orchestrated a hostile takeover of Delek, Israel’s

second-largest oil and gas company.

Yitzhak Tshuva Israel’s Gas King

Monthly Feature

CEMENT

real estate champions

26

Israeli Billionaire Yitzhak Tshuva bought the celebrated New York Plaza Hotel in 2004 for $675 million


A household name in Israel today, Yitzhak went

on to build a global real estate empire that

includes New York’s Plaza Hotel which he’d

snapped up for $675 million in the year 2004.

He also controls property in Vegas along with

partner Nochi Dankner. The Las Vegas Plaza is

the working name for the duo’s $5 billion to $8

billion ultra-luxury casino hotel project. Yitzhak

also owns 20,000 housing units and 700,000 sq

mtrs of commercial real estate in North America

and Canada along with real estate portfolio

in Europe. He has made global investments

through three companies- Delek Group, Elad

Holdings, and Tshuva Holdings. Other business

interests of the tycoon include car dealerships,

cable TV, car insurance and natural gas wells off

the coast of Israel.

Saving the “Lowest Point on Earth”

In between Jordan and Israel lies the lowest point

on earth, the Dead Sea. It is one of the most

spectacular landscapes in the whole world as

also the world’s richest source of natural salts.

The Dead Sea’s shoreline is sinking by a meter a year, and

it is feared that it will literally “dry up” by the year 2050 –

unless immediate efforts are made to save what many are

calling one of the Seven Wonders of the Modern World.

The idea for a Red Sea-Dead Sea canal has been around

for several years. One of the main ideas being forwarded

to stabilize the water level of the Dead Sea is the much-

heralded, yet controversial, Red-Dead Sea Conveyance

Project, which involves digging a canal and a series of

water pipeline conduits 160 kilometers from the Gulf of

Akaba to a location on the salt lake’s southern perimeter

in order to bring between 1,000 and 2,000 MCM (million

cubic meters) of water annually to replenish and stabilize

its water level.

The proposed canal carries a price tag in billions of dollars,

making it prohibitively expensive for the Israeli, Jordanian

and Palestinian governments. Enter the private sector.

Tshuva and several other businesspeople, including a

Saudi prince, offered to foot the bill, on the condition that

they be allowed to build a string of real estate projects along

the route. Now, ironically, the original canal idea (touted

as the Dead Sea’s savior, but expected by many to actually

damage the Sea) may give way to an unabashed real

estate land grab. The Red-Dead Canal has encountered

opposition, needs government approval and will take years

to build in any case. But the project’s momentum may be

sufficient to get some big construction projects approved,

even without the canal itself as a centerpiece.

Tshuva mentioned the project in a speech he gave at the

Tel Aviv Stock Exchange in June 2009, when he painted

an optimistic forecast of “up to a million jobs” being

created by the Red-Dead Conduit Project, and by “spin-

off” industries connected with it. In the speech, reported

in Israel’s Globes financial newspaper, Tshuva talked

about increasing Israel’s freshwater supplies through

desalination, including the desalination of Red Sea water

destined for the Dead Sea. Yitzhak’s plan also includes

building of parks, lagoons and entertainment centers as

well as hotels and beaches along the banks of the canal.

In addition, there will be gardens along the banks, which

will represent the nations of the entire world.

27

God stopped manufacturing land a long time ago but He forgot to hang a board anywhere on total number of occupants allowed. Thus, while the human race has kept multiplying over the years, the total land allocated to them has always been limited and permanent. Some of the smartest people in the world have turned to Real Estate as a profession but not all of them have succeeded. And only those out of them with ‘something extra’ could eventually make it to the top.

Yitzhak Tshuva


Monthly Feature

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28

Sydney Opera HouseThe Sydney Opera House is a globally recognized

architectural landmark and a renowned performing arts

center. As synonymous with Australia as the pyramids are

with Egypt, the Sydney Opera House is recognized by the

World Heritage List as a “great urban sculpture carefully

set in a remarkable waterscape and a world famous iconic

building.”

The modern architectural marvel is located at Bennelong

Point, a peninsula that juts out into Sydney’s breathtaking

harbor. The building forever associated with Australia

was actually designed by an architect from Denmark,

according to the Australian Government. Architect Joern

Utzon entered a competition run by the New South Wales

government in the 1950s. The competition was open-

ended, without requirements for cost or design. The only

specification was that the building should hold two halls

for opera and symphony performances.

Architecture

Many people visit the Sydney Opera House to admire its

architecture, rather than to attend performances. The

Sydney Opera House is a “masterpiece of late modern

architecture,” according to the Sydney Opera House

official Web site. According to the City of Sydney, the

architectural design is especially unique in that it does

not borrow from historical precedent.

Venues

The Sydney Opera House actually has multiple

performance venues, according to its official site:

Concert Hall: The largest performance venue, the Concert

Hall, is the home of the Sydney Symphony, the Australian

Chamber Orchestra and the Sydney Philharmonia Choirs,

among others. Seating 2,679, the Concert Hall is a

magnificent room fashioned of white birch timber and

brush box.

The Opera Theatre: Mostly showcasing opera, ballet and

dance performances, the Opera Theatre is a proscenium

arch lyric theatre that seats 1,507 and boasts an opera

pit that can seat 70 musicians. Opera Australia and the

The Sydney Opera House is located on the peninsula Bennelong Point

architectural marvels


Australian Ballet are among the outfits that perform in the

Opera Theatre.

The Drama Theatre: The Drama Theatre houses theatre

companies, such as the Sydney Theatre Company and

Bell Shakespeare, among others.

Playhouse Some of the same theatre companies that

use the Drama Theatre also use the Playhouse, which

is a smaller venue that is also designed for theatrical

performances, but usually those operating with one set.

It seats 398 people.

The Studio Modern music and other newer performances

are typically held in the Studio, which is the smallest

venue in the Sydney Opera House. Cabaret and spoken

presentations are held at the Studio, which seats up to

350 people.

Utzon Room The signature of the Utzon Room, a multi-

purpose room, is a large, colorful tapestry commissioned

by the architect.

Forecourt This outside venue provides sweeping views of

Sydney Harbour and is used for New Year’s celebrations,

concert performances and other events. The seating is

amphitheatre style and can be reached by the Monumental

Steps.

Recording Studio: This is a world-class studio for producing

and recording music.

Performances

The first performance at the Sydney Opera House was

Prokofiev’s War and Peace, presented by the Australian

Opera. According to the Australian government’s Heritage

Branch, the Sydney Opera House has hosted some of

the world’s greatest performers, including: Opera singer

Luciano Pavarotti, The New York Philharmonic with

conductor Leonard Bernstein, Dancer Mikhail Baryshnikov

& performers like Michael Jackson and Elvis Costello.

Facts and Figures

Since its 1973 opening, the Sydney Opera House has been

visited by more than 100 million people and has hosted

100,000 performances. Below are some interesting facts

and figures about the Sydney Opera House:

• 3,000 events are held there annually.

• It contains 1,000 rooms.

• 200,000 visitors tour the building each year.

• 2 million people attend performances there

each year.

29

As the world shrinks smaller and smaller, our aspirations of matching the physical environment of developed nations has only grown. Thanks to globalization, Indian entrepreneurs and industry professionals have also been exposed to the latest global trends and technological advancements in the field of construction.


30

Monthly Feature

CEMENT

know your home loans

Home Loans Expectations from Budget 2012

IT Exemption limit on interest on housing loans may be

enhanced to 3 lakhs from existing 1.5 lakhs a year.

What may turn out to be big cheer for home loan buyers,

the government is contemplating to enhance income tax

exemption for up to Rs 3 lakh paid as interest on housing

loan in a year, from the existing limit of Rs 1.5 lakh.

As our readers may already be aware that at present, a

deduction of up to Rs 1.5 lakh is available from taxable

income towards interest paid to bank on housing loans.

Besides, borrowers can enjoy exemption on payment

of principal amount up to 1 lakh but this is a clubbed

amount along with your savings as LIC,

With the property prices and interest rates rising with

this enhancement may give the much needed respite to

property buyers.


Monthly Feature

CEMENT

The aim of realty coach column is to keep you abreast

with the latest trends and happenings in the sphere of

real estate. In this issue, we are writing about a new way

to buy property. It’s often a common problem that you

wish to buy property yet the money in hand that you have

it not enough to suffice the investment required. You have

friends with whom you can make this joint investment

but then you don’t want anything to go wrong and avoid

getting in to this sharing arrangement which has no terms

spelled out. Well read below and you will surely find a way

out of this.

Partnership firms, Private Limited companies are made

to do business. You may also have heard of a new form

of partnership that you can create and it’s called as LLP

(Limited liability partnership). This paves in a new trend

in realty shopping. A concept in which you can shop

for property with your friends with all terms spelled out

and yet not have any complicated legal frame work. So

if you wish to go shopping for property by pooling money

with your friends, do it a proper legal way. Form a limited

liability partnership (LLP), pool money as per percentage

of money you are putting in, use the money to buy land

parcels and then either wait for appreciation or you may

also partner with a developer to develop built-to-suit

residential projects and earn money in future.

This model gives handsome discounts while buying

and earns a profit when surplus inventory (property) is

offloaded. It also provides tax advantages.

The LLP model defines the rights of the members and

no one person gets singled out because of the liability

emerging from the company. Hence, risks are spread out

evenly. Any two or more persons with an intention to carry

out lawful business for profit can form an LLP.

Members of an LLP bring in land as equity and can make

a profit of 15-20% on project development that gets

distributed among members. Lawyers, doctors, bankers

and IT professionals are among

those who float LPPs to invest in residential projects in

places like Bangalore and Chennai.

“Developers see this as a great opportunity as it provides

a captive audience for their projects with minimum or no

marketing costs,” said Shrinivas Rao, CEO of real estate

consultancy Vestian Global.

IT professionals are pooling in crores to form an LLP to

invest in residential projects.

LLPs are also a preferred vehicle for real estate investment

from a taxation standpoint. There is no tax liability when

the profit gets distributed among members of a group. In

contrast, when a corporate entity declares dividends, they

pay a dividend distribution tax of 15.5%,’’.

• Over 80 IT professionals in Bangalore pooled

in crores together and formed an LLP to invest in

residential projects.

• LLPs are great from a taxation standpoint.

There is no tax liability when profits get distributed

among members of a group.

• Lawyers, doctors, bankers and IT professionals

are among those floats LPPs to invest in residential

projects in places like Bangalore and Chennai.

realty coach

32

Shopping Property with friends

Investment in Property can be a tricky affair. There are various things which need to be looked into at the time of buying or selling a house. Matters related to taxation laws, procedure of registration or transfer of property. As the name suggests, Realty Coach is going to take up one or more key terms or issues every month to be explained to make matters simpler for you.


34

Monthly Feature

CEMENT

Regular jogging gives better overall physical condition

as well as some other health benefits, including mental

benefits such as relaxation and reduction of anxiety.

Most importantly for many, running is a good way to

lose weight and generally get fitter. Jogging makes

the heart stronger. It increases the capacity of the

blood circulation and of the digestive and respiratory

systems.

Islands are priced according to a number of factors,

including acreage, climate, distance from the mainland

and the political stability of the area. There was a

time when transportation, communication, electricity

and fresh water were all complicated concerns. It’s

a different story now with the proliferation of low-cost

tourism, wireless technology, solar energy, desalination

units and wind generators.

Nothing beats a private islandJog On

the prosperity seekers


35

One of the things that makes chess particularly effective

as a way to keep our brains in shape is that the game

has a built in system of reward and punishment.

Attention is a critical component of learning, especially

if we want that learning to endure over the long term.

Chess gives you an instant feedback mechanism that

can quickly punish any lack of attention.

Check mate!

The Law of Attraction simply states that

you attract into your life whatever you

think about.

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


The Confederation of Real Estate

Developers’ Associations of

India (CREDAI), the apex body

for private real estate developers

in India, has envisaged ‘Mission

Transparency’ crusade to

promote transparent real estate

transactions by rallying the

Government’s support for a

single window clearance system.

It declares 23rd January as the ‘Mission Transparency Day’

to commemorate the birth anniversary of Netaji Subhash

Chandra Bose and revive his philosophy of ‘Complete

Unconditional Independence for India’. CREDAI goes

that extra mile to infuse this philosophy into its vision to

promote red-tapism free single window clearance system

to achieve complete unconditional independence from

corruption in Real estate. This will weed out inefficiency

in the process right from land acquisition to issue of

completion certificate.

CREDAI, with this legendary campaign strives to translate

our freedom fighters’ vision of “Bharat Sone ki Chiriya”

(India a golden bird) into reality. CREDAI looks forward to

celebrate this ceremonious occasion every year on 23rd

January. Recounting the old motto of ‘Give me blood, I

will give you freedom’, CREDAI reinvents this motto to

retool it along the lines of ‘Mission Transparency Day’

for advocating, ‘Give us corruption free single window

clearance system and we will flood India with homes’.

CREDAI has promulgated stringent code of conduct for

the members’ compliance before assimilating them under

the CREDAI banner.

By taking ‘Mission Transparency Day’ forward as an

annual occasion, CREDAI members pledge to practice

internal discipline while adhering to the code of conduct

that protects the interest of all stake holders especially

the home buyers. CREDAI strives to achieve this mission

by enforcing ethical business practices for building a

credible real estate industry. While ‘Mission Transparency’

is a campaign advocated by CREDAI, it would exhort all

Monthly Feature

CEMENT

36

CREDAI adopts 23rd January as ‘Mission Transparency Day’

flipside

xxxxxxxxxxxxxxxxxxxxx

About CREDAIIt is the apex body of the organized real estate

developers/builders across India, representing

pan-India associations of real estate and housing

developers. Since its inception in the year 1999, the

association has grown manifold with allegiance from

22 state/city level associations viz. Andhra Pradesh,

Chhattisgarh, Delhi-NCR, Goa, Gujarat, Jharkhand,

Karnataka, Kerala, Madhya Pradesh, Maharashtra,

Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh

and West Bengal with over 6000 individual member

developers encompassing over 60% of the organized

private sector real estate development activity in

member states/cities in the country. CREDAI has

been instrumental in rallying the cause of the Real

Estate sector by presenting the issues and concerns

of real estate developers to the Government. For more

information log on to – www.credai.org

“Give us corruption free single window clearance system and we will flood India with homes”- CREDAI


Mr. Lalit Jain, President CREDAI

stake holders including the Government body for a single

window, transparent approval mechanism that can lead

to faster acquisition of land, registration of land, statutory

approvals and speedier service connections resulting in

efficiencies of cost, quality and time. With the ‘Mission

Transparency’ drive CREDAI looks forward to establishing

a relationship of goodwill and credibility with all the stake

holders.

CREDAI National President Mr. Lalit Kumar Jain, who

pioneered the concept of Mission Transparency, sharing

his vision said, “‘Mission Transparency Day’ will be

registered as the red-letter day in the history of the Indian

Real estate. With this revolutionary endeavour , CREDAI

takes the giant leap forward to be the catalyst for the

next big change in the Indian Real Estate, that is 23rd

January, a Corruption Independence Day for Indian Real

Estate. Food, Clothing and Shelter being basic necessity

of humanity and with the gap between the rich and poor

increasing, it is imperative that this basic necessity of “

Housing for All” is addressed in an inclusive manner

by the stakeholders leading to creation of housing

stocks. Only a transparent mechanism can ensure the

inefficiencies plaguing the system to be eliminated. This

will culminate into reduction in cost. With this game-

changing crusade against corruption, we look forward to

a nation that is corruption free, thoughtful, full of vigour,

verve and absolutely fearless.

Builders. Entrepreneurs physically building the nation. The houses we live in and the offices where we go to work. They have a significant role to play in mitigating one of India’s basic yet biggest challenges – shelter for its teeming millions. And to play this role well, they need to be heard.

VOL 1, ISSUE 6, PROPERTY & WEALTH-FEBRUARY 2012 37

CREDAI Secretary Mr. T. Chitty Babu & chairman Mission Transparency Branding Mr. N. Nandakumar

Monthly Feature

CEMENT

38

in your good books

We’re all living in a marketing driven, credit oriented society, and it is important for us to exercise financial prudence to stay out of trouble. There are many good books available on Financial Planning and we’ll be introducing our readers to one such book every month.

In his most popular book, The Total Money Makeover,

American financial author, radio host, television personality,

and motivational speaker Dave Ramsey offers a proven,

comprehensive plan for getting in shape financially. The

method of overcoming debt and achieving financial health

outlined by the respected financial expert of is not easy. It

requires sacrifice, hard work and total discipline. In fact,

readers would find printed on the bottom of every page of

The Total Money Makeover, this motto: If you will live like

no one else, later you can live like no one else.

As per the author: “If you will make the sacrifices now that

most people aren’t willing to make, later on you will be able

to live as those folks will never be able to live.” The first

five chapters of The Total Money Makeover focus primarily

on psychological hurdles that one must overcome in order

to be ready to build up their personal finances.

Hurdle 1: Denial

People in financial trouble more often than not simply

deny that there is a problem with their own finances. They

tend to forget that it is in fact the possibility of a disaster

as well as the possibility of great financial success which

they have failed to accept.

Hurdle 2: Debt Myths

Debt is never a healthy thing to have. Taking on car

payments because everyone does, is not smart. Dave

views on credit card usage can actually convince you to

switch over to the lesser used debit cards.

Hurdle 3: Money Myths

The most common myth regarding money is that it is the

key to solving all our problems. The truth however is that

money is nothing more than a tool. If we can use money

as a tool, we set ourselves free, otherwise money uses

us.

Hurdle 4: Ignorance

Most of the time, people are busy imitating what everyone

else does and consider that to be right. The right approach

to follow would be to sit down and analyse the problem to

be able to come up with a lasting solution.

Hurdle 5: Keeping up with the Joneses

Many people get into debt because they want to keep

up with people whose financial situation they don’t really

know about, and follow blindly.

The second portion of The Total Money Makeover consists

of Ramsey’s seven “baby steps” to financial freedom.

Dave’s a big proponent of the one step at a time concept

and proposes seven “baby steps” to financial freedom. By

following these in order — and not moving on to the next

until the current step is complete — readers gradually

progress from debt to wealth.

The Total Money Makeover A Proven Plan for Financial Fitness

Dave Ramsey


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The Akshaya Patra Programme is organized by the Akshaya Patra Foundation that provides mid-day meals through an

efficient distribution system to over 5 lakh school children every day, with the support of the Government of Karnataka

and a large number of donors. This scheme encourages the children from the most underprivileged sections of society to

attend school, giving them a chance to attain a better foothold in life, than their parents.

Prestige Group, Bangalore have pitched in by adopting over 550 school children of the Government Urdu School at DJ

Halli, Bangalore, and serving them hygienically cooked mid-day meals on a daily basis. Taking this a step further, they also

distribute school bags and stationery to these children on an annual basis.

Akshaya Patra Programme

40

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