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Iconic Tower could be fully Residential

zameenzaidad19 | 21 August, 2010 02:00

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NCR - based real estate developer LandCraft Developers Pvt Ltd has announced the launch of its second residential project - River Heights Status - on NH 58, which is coming up adjacent to its first project River Heights on NH-58 at Raj Nagar Extn in Ghaziabad, Uttar Pradesh.

The project’s 756 residential units are being developed on an 8-acre prime property comprising of 2 and 3 BHK units. The project is scheduled to be completed within a period of 30 months from the date of commencement of construction work. The project will have 2 & 3 BKH options ranging from 823 sq ft to 1244 sq ft and starting at Rs 3.08 lakh onwards.

Speaking on the occasion, Manu Garg, director, LandCraft Developers, said: “As part of our continuing efforts in creating value for customers in today’s challenging environment, we have done everything possible, based on the feedback from our old and prospective customers, to make this new venture unique in many respects.”

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GO, BUY YOUR HOME

zameenzaidad19 | 16 August, 2010 01:51

Normal 0 false false false EN-US X-NONE X-NONE There is an oversupply-like condition in the affordable housing segment. But with the kind of demand for these, the situation may soon be over unless people longing to buy that dream home of theirs make a quick decision

Prabhakar Sinha

If you are planning to buy a house, this is the right time. The economy is coming out of the recession and is expected to grow at 8.5% in the current financial year. But as the hangover of the downturn is yet to recede completely, property prices in upcoming areas are still quoting at the rates prevailing during the slowdown period.

Prices of apartments in areas like Noida, Greater Noida, Noida Extension, Raj Nagar Extension and Indirapuram have remained stagnant over the last six months. In fact, prices in these upcoming areas are quoting at substantially lower rates than the prevailing prices in 2008 - before the slowdown had hit the economy. However, as the demand has grown substantially in the last couples of months, developers are considering an increase in prices.

To beat the downturn, the developers introduced the idea of affordable housing, which brought the prices of apartments in the NCR within the grasp of the middleclass buyers. In order to bring down the cost, and consequently the selling price, the developers increased the density of apartments in the affordable segment of development.

But to maintain the quality of living in the affordable housing developments, Manoj Gaur, director of Gaursons, says developers like him introduced high-rise construction, which enabled them to retain a high proportion of green areas. Gaur, whose company is developing a township, Gaur City, in Greater Noida, popularly known as Noida Extension, said that while the launches of affordable housing helped end users to own their own home, on the one hand, they also contributed to the revival of the real estate sector in the country on the other hand.

The CMD of Supertech, which is constructing a couple of townships, Eco Village I and II in Noida Extension, said that there is a huge demand in affordable segment. Though these apartments are termed as affordable housings, he says, they are in no way inferior to the other constructions, which have no such appellations. He said that as most affordable houses in Noida and Greater Noida are being developed in large townships, they have better amenities than even luxury condominiums developed on comparatively smaller plot. Most of these affordable houses developed in townships of around 100 acres have a number of playgrounds, club houses, water bodies, hospitals, schools, colleges and educational institutions. Because of the highrises, around 80% of total ground area in these townships are left as open areas.

But, as a number of developers have launched a large number of such projects in the last one year, there is a huge supply of these apartments. This has created an oversupply-like condition for the time being. Gaur says that with the kind of demand they are experiencing in the affordable segment, the oversupplylike situation would soon be over. He said this is the first time when houses are really being developed for the middle class in metro cities. So far, upper-middle class or affluent people used to buy houses in these cities.

According to housing finance major, HDFC, the affordability factor, which is measured as the number of years' income of an average middleclass person required buying a house, has declined to 4.7 years in 2010.

In 1995, it was 22 years. Later, as the income of the average middleclass person rose sharply and the prices of apartments declined, the affordability factor declined to 11.1 years in 1997 and further to 5.9 years in 2000.The affordability further improved in 2004,when according to the HDFC index, only 4.3 years' income of an average middleclass person was required to buy a house. But, later, as the average property (twobedroom house) prices in metro cities shot up from Rs 14 lakh in 2004 to Rs 32 lakh in 2008,the affordability level worsened. By 2008, according to HDFC, one needed to spend five years' income to buy a house in 2008; but, in 2009, as the property prices fell, the number of years' income required to buy a house declined to 4.5 years in 2009. Now, as the demand has come back, there are chances that prices may start firming up. According to global realty consultancy firm, Cushman and Wakefield, "The market witnessed new launches in the mid-segment category on the back of a strengthening economy and revival of demand leading to appreciating capital values in the region."

The suburban locations of the NCR further expanded their horizons, with planned and improving infrastructure initiatives that resulted in the emergence of new residential corridors, such as Greater Noida Sector 1,2 and 4,which is also known as Noida Extension, Besides them, a number of new locations along Yamuna E-way, NH 24 and NH 58 have come up. The improvement in connectivity of these far-flung areas to the main city has also helped in expanding the horizon of the city.

As economic health will improve, employment opportunities will also improve. So, those that are waiting for prices to fall further may get disappointed. Therefore, if you are planning to buy a house for your own use, it is the time to take the plunge. FOCAL POINT

As the demand has come back, there are chances that prices may start firming up Those who are waiting for prices to fall and postpone their decision, may have their plans upset As the health of the economy will improve, the employment opportunities will also improve. This will give fillip to the demand

Courtesy ET Realty Dtd. 13-08-2010

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Nitesh Estates reports 6.7 crore profit

zameenzaidad19 | 16 August, 2010 01:38

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BANGALORE: City-based real estate firm Nitesh Estates has posted a net profit of 6.71 crore for the first quarter on sales of 37.39 crore. The comparative figure for last year is not available as the company was listed in May 2010, and this is its first consolidated result. The firm plans to launch a 6-7 million sq ft residential projects in the current fiscal.

Courtesy ET, dtd 13-08-2010

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LIVEN UP YOUR PRIVATE SPACE

zameenzaidad19 | 28 July, 2010 22:21

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Upkeep of the bathroom is as important as taking care of the bedroom. With the help of stylish fixtures, you can make it look good.

BATH TUBS AND SHOWERS Wide showerheads provide a forceful rainlike shower. However, hand-held showers are also very prevalent as they are extremely versatile - popular among both, the elderly and the young alike. Unless you have a very compact and minimalist bathroom, a shower enclosure is very essential. Depending on your choice, enclosures can be made in a variety of glass types, each contributing to your style quotient in a different manner. You can choose between clear glass or frosted/opaque glass.

MIRRORS AND CABINETS Every bathroom must have proper mirrors. The market is flooded with different styles of stunning mirror pieces.
With abundant choice in the market one can easily choose in accordance with an individual's taste and preference. Oppositely placed wall mirrors are considered very useful. The lights can be placed above the mirrors to aid better visibility.
Bathroom counters comprise of cabinet, vanity and countertop. Counters form the central part of bathroom interiors. Few large cabinets should be preferred over many smaller ones. Individually the cabinets and other parts are available in different colours, shapes, sizes and quality. Most people like to conserve bathroom space using cabinets. However, there is no point in having excess cabinets as it only eats up the otherwise useful space.

WASH BASIN Wash basins, though seemingly simple, are very important fixtures in the bathroom. They are available in a variety of styles and shapes. The standard material used is either porcelain or china. Numerous colours are available but people generally tend to prefer light shades. Wash basins determine the look and aesthetics of the entire bathroom. More often than not, wall-mounted basins are the overwhelming majority. Bathroom sinks should be designed to match with the surroundings. Large sinks are good if there is a lot of space. When it comes to the material, white ceramic is great.

Courtesy by : ET Realty Dtd: July 16, 2010

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THE ART OF PUBLIC HOUSING

zameenzaidad19 | 24 July, 2010 01:57

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While India should pay heed to de Soto, it should not ignore the Singaporean model either

The government’s plan to make India “slum free” is taking shape. Peruvian economist Hernando de Soto is being roped in to provide inputs. An ambitious scheme called the Rajiv Awas Yojana is being designed. This is a very important area because it goes to the crux of how to accommodate 300-400 million people in urban India in the next three decades. The urbanization process will redefine the country within a generation and we need to get it right. In previous columns, I have argued that we need to think of slums as “routers” in the migration process and that the property rights of the urban poor are not just about real estate ownership (“Slums defy concrete solutions”, BS, December 9 2010, and “Property rights for future migrants”, BS, March 10, 2010). In this article, I will look at the critical role that public housing can play in guiding the urbanization process.

Public housing is not a new idea and various versions of it have been tried across the world. However, it must be remembered that it has very rarely been a wholesale success. In many cases, it has created ghettos of poverty and despondency. In others, the relatively rich have “captured” the projects and have benefited from the subsidies. One of the few exceptions is Singapore where public housing projects played a very important role in transforming the city-state within a generation from a poor, slum-riddled port to one of the world’s most prosperous and advanced cities. What makes it even more impressive is that this was achieved by the mobilization of internal resources and not the deployment of a windfall from oil or some such natural resource

The Singapore story

In the early 1960s, Singapore suffered from severe housing shortages. A large section of the population lived in unhygienic squatter camps that were prone to frequent fires and communal tensions. In a single fire at Bukit Ho Swee in 1961, several people were killed and 16,000 people were made homeless. The race riots of July1964 left 23 people dead and hundreds injured. In other words, life in Singapore’s slums was no better than that in slums that we see in Indian cities today.

The British-run colonial government decided to set up the Housing and Development Board (HDB) in 1960. The agency had built over 54,000 housing units by the time Singapore became independent in 1965. In the initial phase, the flats were basic and were meant for renting. Over time, the quality and choice of housing were increased even as schemes were introduced to help people buy their homes. An important financing innovation in 1968 was to allow citizens to use money from the Central Provident Fund for down payments and servicing.

HDB housing grew very rapidly in the 1970s and 1980s. In tandem with this growth, the government invested heavily in common amenities such as health, education and public transport. Special efforts were made to accommodate small businesses as well as community hubs, such as sports facilities and places of worship. Today, about 80 per cent of Singaporeans live in HDB housing and 95 per cent own their homes. It is extraordinary that the citizens of one of the world’s most prosperous cities choose to live in public housing.

What can we learn?
I have found that Indian “urban experts” arrogantly dismiss Singapore as a small-scale experiment. I disagree. Singapore is a small country but it is a reasonably large city of 5 million — larger than all but six Indian cities. It has been able to dramatically raise the standards of living of its population in a very dense urban environment purely through internally generated resources. This is why, for the last two decades, a string of Chinese mayors have swallowed their pride and made a pilgrimage to the city-state. I know that Singapore’s public housing policies cannot be blindly applied to India, but there are some important principles that are universal and worthy of consideration:

Clear property rights are very important for creating a sense of ownership. However, note that there is a big difference in the Singaporean approach and that of Hernando de Soto. The latter is in favour of regularising squatter rights whereas the Singaporeans preferred to wipe the slate clean using public acquisition of land. From the Singaporean viewpoint, regularising squatter rights would reward squatting and ultimately undermine the very basis of property rights.
Public housing may be partly subsidised but it should not be too cheap — and never free. Instead, there is a housing ladder which starts with cheap rentals and ends in high-end condominium apartments like those in the Pinnacle complex. In other words, the urban poor are not seen as a static group in need of handouts. The underlying assumption is that people have aspirations and they will work hard and climb the ladder quite quickly if given the chance. This is very different from de Soto’s world of small holdings and micro-finance, where the poor improve their situation in tiny incremental steps. Perhaps the difference in world-view reflects the difference between the rapid growth experience of Asia and the slow growth of Latin America.
Management of the “commons” is critical. Thus, the Singaporean approach invests very heavily in common amenities, public transport, maintenance and so on. Residents of HDB estates are made to pay a small management fee every month. Similarly, every effort is made to cluster economic and social nodes within each HDB estate. Even informal sector activities like “hawker centres” are designed into the public housing system. Again, this is very different from de Soto’s approach that focuses on private ownership of property and largely ignores the commons.
Real estate laws are transparent and evenly applied by a quick legal system. This is a necessary corollary of properly defined property rights. This is one area where the Singaporeans and Hernando de Soto would strongly agree with each other.

The purpose of this article is to point out that there is an “Asian model” for thinking about public housing and slum upgrade. This does not mean that rockstar economists like de Soto should be ignored. He clearly has ideas that should be considered seriously. I merely hope that the Indian government will weigh various options before embarking on an important and expensive project.

Courtesy by : BS Dtd: July 14, 2010

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THE ART OF PUBLIC HOUSING

zameenzaidad19 | 24 July, 2010 01:57

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While India should pay heed to de Soto, it should not ignore the Singaporean model either

The Singapore story

Clear property rights are very important for creating a sense of ownership. However, note that there is a big difference in the Singaporean approach and that of Hernando de Soto. The latter is in favour of regularising squatter rights whereas the Singaporeans preferred to wipe the slate clean using public acquisition of land. From the Singaporean viewpoint, regularising squatter rights would reward squatting and ultimately undermine the very basis of property rights.
Public housing may be partly subsidised but it should not be too cheap — and never free. Instead, there is a housing ladder which starts with cheap rentals and ends in high-end condominium apartments like those in the Pinnacle complex. In other words, the urban poor are not seen as a static group in need of handouts. The underlying assumption is that people have aspirations and they will work hard and climb the ladder quite quickly if given the chance. This is very different from de Soto’s world of small holdings and micro-finance, where the poor improve their situation in tiny incremental steps. Perhaps the difference in world-view reflects the difference between the rapid growth experience of Asia and the slow growth of Latin America.
Management of the “commons” is critical. Thus, the Singaporean approach invests very heavily in common amenities, public transport, maintenance and so on. Residents of HDB estates are made to pay a small management fee every month. Similarly, every effort is made to cluster economic and social nodes within each HDB estate. Even informal sector activities like “hawker centres” are designed into the public housing system. Again, this is very different from de Soto’s approach that focuses on private ownership of property and largely ignores the commons.
Real estate laws are transparent and evenly applied by a quick legal system. This is a necessary corollary of properly defined property rights. This is one area where the Singaporeans and Hernando de Soto would strongly agree with each other.

Courtesy by : BS Dtd: July 14, 2010

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Brighten your living spaces

zameenzaidad19 | 24 July, 2010 01:27

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Natural lighting can change the ambience of the room, bring alive a dull room and transform it into a healthier living space. A room making the best use of natural lights embodies a perfect reflection of warmth and brightness.
    Along with artifacts and accessories, lights are also one of the important elements in home decoration. Lights, used as the highlighter of the room, can even make it look dull if not placed properly. Understanding the light in the room design is very important as it can bring a dramatic transformation to the design of the room. This light need not be artificial, even the slightest of sunrays coming inside the room can make the room more functional and lively.
    Natural light finds its place almost through all the corners available. It comes through openings including doors and windows. If there is enough of natural light entering into the room, directing it in the right direction can do an adequate job of lighting the room during the day time, thus reducing the dependence on artificial lights. Design and lighting
    North is the best direction to harness natural light. While designing the room the depth of the window source must be taken into consideration. The farthest distance of the light from the window should not be more than 26ft otherwise; the light will not penetrate and falter. Morning light is best from the east direction while rooms facing the west can use the evening light.
    Different types of glasses like mosaic, stained, coloured can be used to add colour an ambience and diffuse the light coming in.
Skylights
    Skylights are a major source for natural light. Different types of glass like mosaic, stained, coloured can be used to add colour and ambience. Skylights are mainly used in open areas and individual bungalows. They need to be maintained from time to time. Blinds or shades can be kept open during the day.
    The amount of natural light coming in can also be controlled through curtains, window coverings to shades with whatever element coming inside the room. One can even play with lights depending upon the direction of your room. If the room is facing north, it mainly brings in cold light. So, use of warm colours red, yellow or orange in your decor can balance the coolness of light. Also a touch of blue and green can add coolness. Use of darker colours can suit the décor if the room is facing south as the light coming in is usually warm and sunny. For rooms facing east, a mix of warm colours can balance the daylight. The light coming in from the west is usually during late afternoons and the evening sun. Highlighting rooms with neutral colour shades can bring in light effects. By understanding the layout and direction of light that falls into your room, one can use lights in the best ways.
    Harnessing natural lights is not only economical but also also energy efficient. Traditional skylights are an effective way to bring in natural light. In smaller areas flexible tunnels that can be bent around can be used to help the light pass. It works well for entry areas, hallways, inner bathrooms, and kitchen and closets where vertical light is unable to reach directly.
    Have natural lights depending on its use in the room.

Courtesy Times Property Dtd. July 16, 2010

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Brighten your living spaces

zameenzaidad19 | 24 July, 2010 01:27

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Courtesy Times Property Dtd. July 16, 2010

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Brighten your living spaces

zameenzaidad19 | 24 July, 2010 01:27

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Courtesy Times Property Dtd. July 16, 2010

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Preparing to invest in property?

zameenzaidad19 | 16 July, 2010 22:47

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Finance, documentation and legal matters are critical components in the process of buying a home. Property investors also need to evaluate returns and repayment of loan. Here is some of the major issues involved.

The first consideration when purchasing property, whether commercial or residential, is location. Depending on the intended use of the plot of land or building, you will be able to ascertain whether it is easily accessible to major roads and public transit, and whether it is close to amenities such as shopping malls, apartment complexes, recreational facilities, schools, and industrial belts. Also, find out if the property has easy access to utilities such as electricity and water.

Another crucial factor is development potential. Before buying a plot of land, you must determine whether it is possible to build upon it. A piece of land may be in a prime location, but you will lose the value of your investment if you discover that you cannot build upon it until after you buy it.

Factors that influence buildability include the quality of the soil and the general topography. Will the soil support the foundation of whatever structure you intend to build on the property? Is there sufficient drainage or is the land susceptible to flooding? Is there easy access to a sewage system? These are all essential questions for which the answers should be obtained before you complete your purchase.

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Hurley hunting haveli in desert

zameenzaidad19 | 16 July, 2010 22:24

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Jaipur : What rich and beautiful celebrities want they usually get, but Elizabeth Hurley’s dream of buying an “incredibly beautiful haveli” in the middle of a tiger sanctuary in Rajasthan may remain just a wish.

Tiger sanctuaries in Ranthambhore and Sariska are already reeling from heavy human traffic and the authorities would rather keep off visitors than help them settle down there.

According to government rules, human settlement is prohibited within 1km of the sanctuaries.

So grave is the problem that the Rajasthan government is working hard on shifting villages located inside the sanctuaries with offers of hefty compensation.

Hurley, who married tycoon Arun Nayar in Jodhpur’s Umaid Bhawan Palace in February 2007, has always been fascinated with Rajasthan, the land synonymous with romance and chivalry. Even before she tied the knot, Hurley had visited Udaipur and the nearby Devigarh fort a number of times.

The couple, tired of the constant media glare, had earlier moved to a 400-acre farm in the countryside of London and Hurley has been looking for a holiday home in peaceful environs for quite sometime now.

The actress, in an interview to The Independent newspaper of London, said she has zeroed in on a haveli in Rajasthan. “It’s a haveli, a town villa, in the middle of the tiger sanctuary. It’s incredibly beautiful, and so peaceful you feel you could tap back into your creativity and do some real fashion designing.”

But if she is willing to compromise on her wish, Hurley could yet find a haveli on the peripheries of the sanctuaries, that, too, for an affordable price.

Surendra Rajpurohit, managing director of real estate firm Blue Earth Consultants, said: “Hurley can find a haveli with 15 to 40 rooms within Rs 5 crore which perhaps would be too cheap for her. I think she would go in for a small fort or garh as it is called here, where the asking rate is now anything between Rs 20 crore and Rs 100 crore.”

Real estate agents said havelis are being sold at prices ranging from Rs 50 lakh to Rs 5 crore. Since foreigners are not allowed to purchase havelis directly, they usually tie up with an Indian company or partner and then proceed with the deal.

The sale of a haveli is usually a complicated transaction since they have numerous owners, many of whom live outside Rajasthan and abroad. NRIs or NRRs (Non-Resident Rajasthanis), therefore, prefer to take these old but majestic residences on lease for 30 to 40 years instead of buying them outright.

Rajpurohit said those who have taken havelis on lease are paying Rs 2.5 lakh per month for properties in Achewar and Bharatpur districts.

These havelis, spread over the entire state, especially in the Shekhawati and Bikaner regions, have a unique architectural style and were built between 1750 and 1930.

The buildings were built around courtyards to ensure safety and privacy of women and protection from the long and harsh summers.

The havelis are usually spread over sprawling areas from about one to five bighas, have gardens, courtyards and an average of 30 rooms.