Property & Wealth Vol 3, Issue 5 by Property & Wealth

contents

COVER STORY

Real homes, virtual spaces! With the avant-garde social media, market for real estate too has moved from real to virtual world making its marketing real-time, instant, collaborative and also glam!

propertywise News & Events 15 Hotspots

The 65th of FIABCI Congress

Avail Tax Benefits 28 Home Loans Check List 31 How likely is a post-election recovery in India? 32 What Is 'Spillover Demand' In

COVER STORY 08

Real Estate? 34 Preet City 36 Care Rates The Aranya (Phase-I) by Unnati Fortune Holdings Ltd 40

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Page 16

Page 28

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contents

prosperityseek Be a Prosperity Seeker

Amazing Buildings

Amazing Gadgets

World Heritage Sites

Eyecatchers

Amazing Getaways

Amazing Sites

Planetsavers 57 Amazing Facts

Bookshelf 59 Get Your Business Goals with Feng Shui

Healthy Living

Softcorner 64

Page 64

Page 48

Page 60

Page 62

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PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 05

from the

about this issue An estimated 20 million people shop online and predominantly for real estate. Statistics also show that Internet by real estate buyers has increased steeply over the years. Real estate online marketing has opened some innovative avenues to all those in real estate business. Our cover story this month highlights success stories of 3 such leading Indian portals. In the events round up, we take you for a preview of FIABCI 65th World Congress, an international summit of concern for all real estate professionals worldwide. If you have taken a home loan don’t miss out to read Smart Tax Saver article on page 28, which is a comprehensive guide for anyone who has questions regarding tax saving on housing loans. In our regular feature ‘amazing gadgets’, read an interesting write up on how a 3 D printer can build a 2 storey house for you. Our eye catcher this month is Indian born Satya Nadella who becomes the third CEO of Microsoft bringing in a relentless drive for innovation and a spirit of collaboration to his new role. The book shelf this month reviews ‘The Chinese way to wealth & prosperity’, by Justin Lee. It has stories & anectodes from the Chinese history & gives a snapshot of ‘8 timesless strategies for achieving financial successes.’ Get Your Business Goals with Feng Shui in a guiding article by Vaastu Shree, Vaastu Visharad Shri Naresh Singal. Today people with three digit age are common. There are about 1 lakh of them in US and the number is accelerating rapidly. In healthy living column, read about the six ways that will dramatically increase your chances of not only living 100, but living it in a healthy way. Wishing all our readers a prosperous financial year ahead. Jasmeet Dhamija Editor-in-Chief

06 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

CONTRIBUTORS AND ASSOCIATES Publisher & Editor-in-Chief Jasmeet Dhamija jasmeet@propertyandwealth.in

editorial

Editor Charu RS charu@propertyandwealth.in

Rebooting India

Feature Writers Monika Tandon, Satpal Kataria, PD, Rupinder

The poll bugle has been blown. The biggest festival of democracy has begun to unveil! Not only India but also the whole world is waiting for May 16 when the high budgeted Indian poll drama would bring out the real picture. This has indeed for the first time in Indian poll history been a war of products & brands 単 the administrator imaged Modi, the youth scion Gandhi or the next door common man Kejriwal. Like most other business sectors, the Indian real estate market as well as international investors holds breath for the outcome of the general elections. The sector eyes on-to some vital initiatives and regulations that have been gathering dust on bureaucratic tables yearning for attention. Be it the much-debated Real Estate Regulatory Bill, or bringing in FDI in multi-brand retail, the complexities and loopholes around them needs to be addressed first. Regardless of who comes to power, it is rather a matter of great concern as to how precariously our Indian economy is perched. All will percolate down to all aspects of every industry and sector. The prime thing here is to understand the current state of economy in India, the needs of Indian industry of making regulatory permission quick & transparent, attention towards better decision-making and hassle- free movement of physical goods away from lack of regulation and bureaucratic quagmire & REBOOT INDIA!! Charu RS Editor

Art Director & Visualiser Rajesh Bhardwaj Graphics Team Sunil, Mohinder, Mamta Advertisement & Sales Jatinder Kumar (M) 9216909442 jatinder@propertyandwealth.in Subscription Ajay Gupta Photography Rohit Bhatia Pre Press Team: Gopal Production Team: Vijay, Jitender Advisory Board Harpreet Pooja & Associates Architects Rajiv Gupta & Associates Chartered Accountant Vikas Chatrath, Advocate Printed & Published by Jasmeet Singh at Plot No. 437-A, Industrial Area Phase-2, Chandigarh. Owned by Jasmeet Singh, 220, Sector 19-A, Chandigarh & Printed at Savitar Press, Plot No. 820, Ind. Area Ph-2, Chandigarh. Print Production

info@ideaprintcity.com

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 07

cover story

Real homes, virtual spaces! With the avant-garde of social media, market for real estate too has moved from real to virtual world making its marketing real-time, instant, collaborative and also glam!

08 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

ecent surveys conclusively reveal that an estimated 20 million people shop online and predominantly for real estate. Statistics also show that Internet by real estate buyers has increased steeply over the years. Real estate online marketing has opened some innovative avenues to all those in real estate business as also investors who are keen on investing in real estate and buying properties because real estate is the single most investment where the value steeply appreciates over passage of time. Not only this, with souring economy and growing on-line credibility amongst Indian consumers, real estate marketers have resorted to portal based businesses especially to go global and capitalize on NRI investors. Leading realty developers are now using website portals, Facebook, Twitter and YouTube to reach prospective NRI buyers, helping them identify the right property, negotiate a deal, and help repatriate large sums of money home.

Especially developed apps and dedicated portals have made the online real estate shopping expedience a delight. But the job isn't done just with the creation of a brilliant product. That's where it begins. P&W takes a bird’s eye view of the growing online market and brings in the sanpshort of the India’s three leading www’s stories in the real estate- www.housing.com, www.sulekha.com, www.commonfloors.com The Housing Story! The map-based housing portal boasts of third-largest traffic within 2 years of inception. The venture is a start-up of 12 IIT B graduates all committed to innovation for enhancing house hunting experience. The company has expanded to 10 cities — Mumbai, Bangalore, Pune, Gurgaon, Chennai, Delhi, Noida and Ghaziabad, Hyderabad and Faridabad — and has 700 staff members.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 09

cover story

Advitiya Sharma, one of the co –founders, shares the Housing story with P&W’s, Charu RS. Excerpts. How the idea was conceived? It all began when we had to get down to house hunting. A group of us final year IITians decided to take up house hunting together. We got down to the accommodation hunt even before finals week, and you would think that a head start would have made things easier, but the whole process was nothing but a nightmare. Eventually, we did find a place that barely answered our needs. The only thought that lingered on was that many others must have faced this problem, and many others will if nothing is done about it.. We felt the need for a powerful tool which we would have loved to use ourselves and would’ve loved to share with others. In essence, we wanted something better, so we built it. And thus, Housing. com Who are the people involved? We are a group of 12 from IIT B. We are united by the vision to make house hunting a convenient and hassle free process for the Indian public. At Housing, each co founder has taken up a specific role in the company to suit his area of expertise. What are the financial implications & the fundings of the venture?

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Housing has created history by winning over a string of 3 investors in the short span of 1 year. The first round was led by Zishaan Hayath Co- founder of Chaupaati Bazaar , and the second funding was secured from Haresh Chawla, former CEO, Network 18. The recent third round was by Nexus VP, India’s Top Venture Capital Fund. The three rounds have not only lent us financial support, but have given us mentors that we can learn from. What’s housing’s USP? Housing is known for its commitment to authentic data. Housing.com is the only truth in Indian real estate. We have an in house team of data collectors, and a team for data verification in order to give people credible information about houses. Each listing on Housing is accompanied by real photos, and land plots have a 360 panorama view. All houses are mapped on our map based interface so that users know the real location. Moreover, we have a Data Science Lab to synthesize relevant information from the market for the benefit of our users. What’s the aim of selling houses through a portal. Hasn’t the tangibility factor affected it?

We want to bring convenience and credibility to the market. The idea was to replicate the offline house hunting procedure in the online medium. Housing.com has been built with the aim of achieving this. For the user interface, ‘maps’ was an obvious choice. It’s the best way to give users a feel of not only what lies inside the house, but also what lies around it, without actually necessitating physical presence. Real photos and detailed neighbourhood information gives users a virtual tour of the houses listed. Do you see yourself as a broker’s broker? How do u connect the ultimate consumer. Housing is the nexus between buyers and sellers. We also encourage houses being sold or let out by independent landlords. The actual deal is carried outside the operational area of Housing.com. How do think this would revolutionalise the real estate sector especially in India. The Indian real estate sector went online about a decade back. However, the sector is still plagued by the problem of lack of authentic information. It is Housing’s aim to weed out this problem and bring credible house hunting to the people of India. Something like a special Data Science Lab has never been done before in the Indian real sector. We want to develop the industry in terms of the addition of a whole new layer: authentic information. How does your growth chats look like in terms of following past one year. The growth of the company in just 1 year has bee phenomenal. We're now in 10 cities with over 750 people in the company. We've received 3 rounds of funding and have great partners and great mentors. Our unique data collection process was an innovation for the industry. And our biggest bet.

We have agents and landlords uploading 100's of listings. Everyday. So, the growth has been fantastic. And the next year is going to be really exciting. How do you intent to promote the portal? A magical thing happens when you give people innovative technology that they cause. That technology has the potential to go viral. And that’s exactly what it does. We're 3rd in the industry. and the platform gets 80 k + unique visitors. Every day. Just in 1 year. Solutions like those presented by Housing.com have the power to spread their reach all by themselves. We simply innovate, the innovations do all the rest. What are your future plans? You just bought the .com domain in of the most expensive domains. How do u plan to go global? In what could be the biggest domain deal of the year, Housing has acquired the .com domain for $500k. The company is expected to hit its first international expansion in the next six months. Projects in pipeline? Housing New Projects will be launched soon. For the first time ever, builders will have a beautifully constructed platform to showcase their upcoming projects. Housing New Projects is the one stop destination for buyers to know everything about their new home. It will display 3D floor plans, the estimated timeline and the entire builder profile. Recently housing has launched a PG section with focus on “Female Only” inventory. It’s a well reserached category and this move has come after a recent analysis by the portal that showed that a large number of people were applying for the low range accommodations that includes mainly PG’s by youngsters. At present, the listings are available for three cities viz. Mumbai, Delhi and Bangalore.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 11

cover story

The UNCOMMON SERVICES by www.COMMONFLOORS.COM

“

We have been working with apartment communities for nearly 7 years now, and CommonFloor Groups is the result of the knowledge we have gathered over these years. Residents can expect a whole new and improved user experience. Apart from a more efficient product, this version also provides a new identity to the CommonFloor. com’s apartment management offering. With over 1 lakh communities currently deploying our offering we are indeed one of the largest providers of Apartment management solution. With this launch we hope to make community management hassle free for many moree.

“

Untrue to its name Commonfloors.com has some of the uncommon and innovative services on offer. Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, the portals is an innovative online service that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.

The portal improving upon its earlier version, has recently launched a new version of its Apartment Management offering - CommonFloor Groups. Replacing the earlier version (CommonFloor Apartment Communities) - CommonFloor Groups now provides apartment communities across the country.

Remember the time when the padhosoi or the society-mate were part of your every day life! Trusting them with spare set of keys for emergency times, to taking letters on your behalf, or asking for ek katori shaakkar, or sharing sweet savories on birthday… the neighbors used to be the lifeline for helping in daily drudgeries of life!

Its users find it friendlier, more informative enabling better communication, management and coordination amongst residents, owners (residents or non-residential landlords) and RWAs (Resident Welfare Associations). Users will now access CommonFloor Groups through a new web page – www.groups. commonfloor.com.

Based on the same concept, the commonfloors.com encourages interactions amongst the apartment community bringing them closer and helping in search of your dream apartment. It is dedicated in meeting all aspects of consumers’ needs around their home and connects you to the relevant service provider.

Features for owners (residential and non-residential) Every user with a CommonFloor group account is provided a direct login. With this platform users can: 1. Voice concerns and bring important issues to the attention of other residents and the RWA 2. Track the status of an issue online anywhere anytime on the go 3. Use the payment gateway for online payments like maintenance fees 4. Access the repository of home service vendors like carpenters, architects, plumbers etc. for day to day home

With property listings from 120 cities, it has over 1 lakh projects listed with it and has funding from Accel Partners and Tiger Globa.

12 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

5. 6. 7.

repairs and maintenance Buy, sell or rent belongings within the community. Find and reach out to neighbours with common interests Form Interest groups (photography, yoga, football etc.)

Benefits for Resident Welfare Associations With the offering providing functions similar to Enterprise Resource Planning (ERP) RWAs can use the platform for management of all aspects of the community. The system allows the administrators to 1. Manage accounts 2. Delegate activities 3. Set reminders 4. Send notices 5. Monitor complaints 6. Manage parking 7. Keep track of vacant houses 8. Collect dues and generate receipts 9. Use the platform’s SMS and email services to circulate

important messages among residents

Currently over 1 lakh communities already deploy CommonFloor.com’s Apartment Management offering and would therefore be the first beneficiaries of the new version. Despite the vast amount of user information shared on this portal, CommonFloor.com ensures privacy of its users. Without user consent no data is passed to advertisers or vendors. With a shared inbox and data history, knowledge transfer from one committee to the next is extremely easy. CommonFloor Groups also has an updated, easy to understand help page for new users. Way ahead- a Mobile App With the objective of supporting residential communities 24 x 7 even when residents are on the go, CommonFloor.com will launch a mobile app for CommonFloor Groups. The app will allow residents to use all resident features offered by CommonFloor Groups and will be available for download on Android, Apple and Windows mobile phones. The Portal now aims at opening new avenues of consumer engagement and brand connect with this launch.

Thinking global acting local! @sulekha. com

Founded in 2002, Sulekha.com is of the earlier ones in the digital marketplace which caters all local needs and brings to its users everything at the fingertips. Sulekha caters to 29 Indian cities (Delhi, Noida, Mumbai, Navi Mumbai, Bangalore, Chennai, Hyderabad, Pune, Ahmedabad, Kolkata and Coimbatore) and at least 9 North American cities (Chicago, New York, Toronto, Austin). Fulfilling its aim to provide delightful discoveries everyday, Sulekha has launched a free app for iPad users to help find high value properties between Rs 1 and 25 crore across India. This app is an extension of its recently launched portal, "Pantheon" (http://pantheon.sulekha.com/). Pantheon is an exclusive showcase for high-end luxury homes valued between Rs. 1 and 25 crore in India. Its unique model is targeted to reach the very niche but growing HNI (High Net Worth Individuals) segment in India and NRIs abroad — constituting about 2 million households — through multiple channels such as Web, Mobile (iPad) and Print. Sulekha.com has now also launched its Pantheon iPad app which is available for free download from iTunes. The Pantheon iPad app will showcase premium properties using stunning visuals, compelling interactivity and dynamic alerts. The listings include individual houses, villas, apartments, flats, condos, farmhouses, beachhouses & new and upcoming projects. Covering a broad spectrum, the portal helps in connecting and transact with fellow consumers and local businesses hence lubricate and enable local digital commerce. Its spectrum includes: Property, Home Needs, Office Needs, Lifestyle, Health, Education, Mobiles, Eatouts, Cars, Travel, Jobs, Food

reviews for the app• One-stop solution which gives User information only about

high value properties across India and helps users contact

builders with a swipe

• Easy-to-use interface • Clutter-free and easily navigable layout •

Mobile platform enables anytime, anywhere access

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 13

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news & events REAL ESTATE & INFRASTRUCTURE NEWS EVENTS ROUNDUP

news&events Mantri Developers Comes up with an Attractive Investment Opportunity in Bangalore "Mantri Alpyne"

The Xander Group Invests 370 Crores in Rustomjee Mumbai

Bangalore

Mantri Developers comes up with yet another classic example of an attractive investment opportunity in Bangalore – Mantri Alpyne. The project is located at the posh locality of Banashankari, in close proximity to the planned development of BMICAPA hub. Project is scenic yet well connected to the city`s business districts, educational institutions and shopping areas yields a Mantri developers review. A cross pattern plan having 8 units per floor is proposed with a central circulation corridor and core. This arrangement ensures good light and ventilation to all apartments in a block. The 2.5 and 3 bedroom apartments have been positioned for the best views into the neighbourhood. The core has visual and spatial connectivity to the exterior allowing for natural ventilation and a dynamic play of natural light during the day. Mantri Alpyne is a blend of luxury and comfort.Mantri has always been at the top of the table in providing its customers with luxury and comfort. Mantri Alpyne includes amenities like swimming pool, toddler's pool, a widespread outdoor play field, an open amphitheatre, outdoor party area, children`s play area, basketball post , a pick up and drop off point and much more. The landscape includes an arrival plaza, beautifully landscaped gardens, with water bodies, beach edge wading pool with sand bed, mini forest.

Rustomjee received an investment of Rs 370 Cr (~US$61.5 MM) in one of its group companies, Kapstone Constructions Pvt Ltd (KCPL) from the private equity real estate arm of the global investment firm, The Xander Group Inc. This investment in KCPL and the partnership with Xander reinforces the growth momentum of the company. The capital received will be utilized for reducing debt and for further growth of the Rustomjee group. Commenting on the transaction, Boman Irani, Chairman, Rustomjee said, “This is the fifth private equity investment in our company and shows investors’ confidence in us. We are pleased to join hands with Xander. Their extensive industry knowledge and global experience will add significant value to our company. Our emphasis on transparency and fair dealing has ensured that investors are happy to be associated with our projects. We have provided successful exits to all our previous investors.” Commenting on the partnership, Rohan Sikri, Partner, Xander Investment Management Pte. Ltd. said, “Rustomjee is well positioned to capitalize on their development expertise across townships, premium residential projects and redevelopment schemes in Greater Mumbai and we are pleased to partner with them. This investment is representative of our continuing investment interest in the Indian real estate market for wellpositioned projects with quality partners." KCPL is currently developing Rustomjee Urbania, an IGBC certified, self-sufficient township in Thane, spread across 127 acres. The township will redefine standards of urban living with its modern living spaces, education, retail and entertainment centers complemented by unique amenities like padded play areas for children making it the most sought after residential project in Thane.

forthcoming events ArchiBuild - 2014 Venue: Himachal Bhawan, Chandigarh Date: 26-28 September, 2014 16 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

Chandigarh

news&events Journalist Association of India Honours Mr. Tarun Shienh (CMD - Premia Group) as "The Real Estate Guru" New Delhi

Mr. Tarun Shienh, CMD Premia Group was honoured with an award of ‘The Real Estate Guru’ at 21st National Award Ceremony organised by Journalist Association of India at Ashoka Hotel, for his excellence and leadership qualities in Real Estate sector. Sh. Oscar Fernandes MP , Rajya Sabha, Ms. Satya Bahin, former MP, Member National Commission Schedule Caste, (Guest of Honor), Justice Sunil Narayan (Judge), H K Sethi (Secretary General - Journalist Federation Of India) honored Mr. Shienh as ‘The Real Estate Guru’ and appreciated the way he has worked hard to make the industry organized. Tarun Shienh has made a stand for himself with his innovative approach, which has come with the vast experience in the industry. Tarun Shienh, CMD Premia Group – “The Real Estate Guru” has taken up the responsibility to elevate the real estate industry to the next level…by providing innovative & customized end-to-end solutions to the customers be it in

Residential Projects or Commercial Space. He is among those very few personals who with his commitments, innovative thinking and strong leadership qualities has set a success story for himself. The 21st National Award ceremony was organized by Journalist Association of India to recognize the services of all those who have excelled in their fields and have made a stand for themselves. A jury was made to select such personalities after studying their hard work that they have done for the society. Personalities like Vivek Oberoi, Rakhi Sawant, Ms. Krishika Lulla (Owner of EROS Group )Labh Janjua – singer of London Tumakda-‘Queen Movie’, Mr. Arun Bali, Daler Mehandi etc were some more awardees who were recognized to display exceptional work in their respective field and have become the touch bearer for the society and the nation.

forthcoming events 65th Fiabci World Congress Venue: Luxembourg Date: 17-22nd May 2014

Luxembourg

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 17

news&events GODREJ PROPERTIES Bangalore

SUPERTECH DEMOLITION NOIDA

The Allahabad high court has ordered (12th APRIL 2014) demolition of two 40-storey residential towers of Supertech’s Emerald Court in Noida upscale sector 93A for flouting building norms, a ruling that sent shock waves across the real estate markets in the NCR and rest of INDIA.

The Mumbai based real estate developer has entered into a partnership to develop a 100 acre residential township in North Bengaluru. The project, spread across 100 acres, will offer a potential saleable area of approximately 0.87 million square meters (9.4 million sq. ft.) though its proximity to the new international airport may lead to a reduced consumption of FSI. This project is proposed to be developed as an integrated township with a mix of residential unit types as well as a school, convenience retail, and other amenities to ensure an integrated self-sufficient lifestyle for its residents. The proposed site is strategically located between the Bangalore International Airport and Hebbal and has easy access to the city from the new signal free corridor created on NH7. The location is in close proximity to several IT parks and schools and is one of the fastest developing areas in the city. As with most GPL projects, this project will be developed as a profit sharing partnership. Mr. Pirojsha Godrej, MD & CEO, Godrej Properties said, “We are happy to have entered into an agreement to develop a large new township in Bengaluru. This will be our third township project after our projects in Ahmedabad and Mumbai and we will seek to create an outstanding destination. We are currently developing several projects in Bengaluru, which has been India's best performing real estate market and this new development will substantially strengthen our presence in this important city. This project fits well with our strategy of developing world class residential projects in key markets across the country.”

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A division bench of justices V K Shukla and Suneet Kumar ordered the demolition within a period of four months and directed the builder to refund home buyers money with 14 per cent interest compounded annually. The court also ordered prosecution of the builder and officials of Noida Authority which allowed the construction. The two towers Apex and Ceyane together have 857 flats whose price ranges from Rs 40 lakh to Rs 1.2 crore. Only 230 flats in the two under-construction towers remain unsold. The two towers are part of Emerald Court Group Housing Society located near the Noida-Greater Noida expressway. Builder to move Supreme Court In 2006, Supertech launched Emerald Court in Noidas Sector 93A Gets permission for 15 towers of 11 storeys each. But in 2009, adds two 40-storey towers with 85 flats;21 storeys already built RWA moves court in 2012,saying this was in violation of UP Apartment Act HC orders demolition, tells builder to return money to home buyers with 14 per cent interest Supertech says will move SC as buildings have approval of Noida Authority.

PUDA AUCTION LUDHIANA

A mega auction conducted by the Punjab Urban Planning and Development Authority (PUDA) to sell a piece of prime land (8.18 acres) in front of the Mini-Secretariat, LUDHIANy turned out to be a damp squib. Not even a single bidder took part in the auction as the senior GLADA officials, including Additional Chief Administrator Kuldip Singh and Estate Officer RK Popli, kept waiting at the “pandal” for a long time. Popli said many builders and developers had evinced interest in buying the land located on main Ferozepur Road prior to the auction but no one had deposited the earnest money.

UNAUTHORISED COLONIES HARYANA

Chief Minister Bhupinder Singh Hooda approved the notification to regularise 875 unauthorised colonies in the state. A spokesman for the Urban Local Bodies Department said 103 colonies had been approved in Ambala district, 41 in Fatehabad and 18 in Bhiwani. Similarly, 102 colonies had been approved in Jind, 66 in Faridabad, 76 in Gurgaon, 78 in Hisar, 44 in Jhajjar, 30 in Kaithal, 46 in Karnal, 47 in Kurukshetra, 26 in Mahendragarh and four in Mewat district.

REVISION OF PLANS CHANDIGARH

There is a ray of hope for real estate projects awaiting change of land use (CLU) licences from the state government. The department of town and country planning on Tuesday submitted a revised sub-regional plan to the NCR Planning Board (NCRPB). The builders, however, will have to wait till the board approves the revised plan. Last month, the Punjab and Haryana high court had barred the state government from issuing CLU licences to developers or government agencies in NCR because of the same reason.

NAVI MUMBAI AIRPORT Mumbai

The City and Industrial Development Corporation (Cidco), the nodal agency for the Navi Mumbai airport project, will initiate the ‘request for qualification (RFQ)’ process next Wednesday upon which multinational developers are expected to approach it to participate in the bidding. The RFQ issue was hanging fire for over 18 months since an agreement had not been reached with the PAPs. The civil aviation ministry and the Prime Minister’s office have cleared the tender documents, said Cidco vice-chairman and managing director Sanjay Bhatia.

NATIONAL HIGHWAY MANALI

Years after the survey to check feasibility of four-laning of the Kiratpur-Mandi-Manali national highway, the National Highway Authority of India (NHAI) sent a proposal for four-laning only up to Kullu. Rest of the 40km stretch between Kullu and Manali will be double-laned. The NHAI maintains that traffic flow on NH 21 is high only up to Kullu. Earlier, the proposal was to connect Manali with the four-lane highway. But according to the survey report, double lane highway between Kullu and Manali is sufficient for moderate traffic. NHAI project director, Shimla Satish Kaul, said they have sent a proposal of four-laning of the highway only up to Kullu for final approval. “The proposal is not final as the survey is still in its initial stages. We had been planning double-laning of the Kullu-Manali highway. If the double-lane road turns out to be inadequate, the Kullu-Manali bypass road can also be converted into double-lane highway,” he said. Meawnwhile, four-laning of the 84.37km-long Kiratpur-Ner Chowk highway is being done on war footing. Ner Chowk to Manali highway was to be four-laned in the second stage. The challenging task of widening of Ner Chowk-Manali highway, which will pass through tunnels and flyovers is yet to get final approval from NHAI. At present, the stretch from Ner Chowk to Manali on the national highway is in need of extensive maintenance. NHAI had not been spending much on maintenance work in the belief that spending on the highway, which would be converted into a four-lane stretch, would be useless. However, years after the survey, people are still waiting for a good road. PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 19

news&events Manpreet Grewal To Head The India Operations of Global Real Estate Giant RE/MAX India RE/MAX, the world's largest real estate network, having a pan India presence through 100+ Indian offices in 35+ Indian cities, appoints Manpreet Grewal as Regional Director - India Operations w.e.f April 1, 2014. Manpreet joined CybizCorp, the Master Franchisee of RE/MAX for India at the time of its launch in India over 5 years ago and has now been elevated to lead its real estate vertical. "Manpreet has been focused on mentoring, monitoring, motivating and managing our franchisees, agents and customers across the country and has significantly helped in bringing professionalism within the Indian real estate industry." said Sam Chopra, Chairman, RE/MAX India. Commenting on the appointment, Saloni Chopra, Vice Chairman, RE/MAX India said, "We are very proud of Manpreet and are confident that she possesses the perfect DNA required to take RE/ MAX to the next level in India." Ms. Manpreet Grewal, the newly appointed Regional

20 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

Director - India Operations says, "I am overwhelmed with this new development and attribute my meteoric rise to a combination of great teamwork and an even stronger leadership within RE/MAX in India as well as globally." Amongst other s i g n i f i c a n t Ms. Manpreet Grewal appointments at Regional Director - India RE/MAX in India, RE/MAX India Mr. Sahil Kapoor has been appointed as the Regional Director, RE/ MAX Delhi, Gurgaon and Noida multi-regions, effective 1st April, 2014.

CHANDIGARH CAPITAL REGION PROPERTY HOT SPOTS ZIRAKPUR 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

FOCUS THIS MONT H ZIRAKPUR R ZONE 2 + WEEKEND HOMES

Shushma

HOT SPOT IN FOCUS

Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed. 22 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

HOT SPOT IN FOCUS - ZIRAKPUR R ZONE 2

Kiran Apartment

Savitry Greens

Location: VIP Road (near Penta Homes), Ambala-Chandigarh Highway, Zirakpur

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

Highlights: - Modular Kitchen with Chimney - Free Car Parking - 2 AC’s - Texture Paint on 3 Walls - Water Purifier Options: 2BHK (1150sqft) IndependentYds.

Budget Planner

90 100 150 >200

` in Lakh

Budget Planner

90 100 150 >200

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

Possession in November 2012

Ojas Grand, Zirakpur

Jaipuria’s Sunrise Greens Location: VIP Road, Zirakpur Highlights: Choice of 2/3 premium apartments and penthouses characterised by Singapore architectural collabration. Recreational Club with Swimming Pool Options: 2/3 BHK, Penthouses

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

Budget Planner

90 100 150 >200

` in Lakh

Budget Planner

90 100 150 >200

` in Lakh

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

Pearls Nirmal Chhaya

Maya Garden Phase-3

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

Budget Planner

Ready to move in

90 100 150 >200

` in Lakh

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

Budget Planner

90 100 150 >200

` in Lakh

Zigma Wealth: 8146992437

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.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 23

WEEKEND/HOLIDAY HOMES

Amravati Hills

DLF Samavana

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 year Options: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.

Budget Planner

90 100 150 >200

` in Lakh

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

Budget Planner

90 100 150 >200

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

Zigma Wealth: 8146992437

Pine Wood Resorts

Hill Farms

Location: Dagshai Hills Highlights: 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

Budget Planner

90 100 150 >200

` in Lakh

Location: Dharampur Sapatu Road 2 kms from Hotel Victoria Intercontinental Highlights: 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

Budget Planner

90 100 150 >200

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

Mega Marketing: 9815740230

Kaisville

Pine Wood Cottages

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

Budget Planner

90 100 150 >200

SS Associates: 9876500036

` in Lakh

Location: Solan Simla Old Road, Kumar hatti Highlights: Beautiful fully furnished apartment With un spoilt view of the mountains. An ideal hill farm house. Options: 2BHK and 3 BHK

Budget Planner

90 100 150 >200

` in Lakh

Call 9815601347

24 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

98726-35220, 98156-01347

property wise

The 65th edition of the most dynamic and influential real estate event to be held in Luxembourg in May 2014! FIABCI 65th World Congress is an international summit of concern for all real estate professionals worldwide that will be held in Luxembourg on 20, 21 and 22 May 2014.

Congress days This World Congress is an intensive three days professional program composed of conferences led by internationally renowned speakers, expertsâ&#x20AC;&#x2122; debates, workshops and exhibition area as well as exclusive networking opportunities. 1500+ real estate decision makers from about 60 countries are expected to take part to this event. Business sectors from the real estate industry, including disciplines from building, 26 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

architecture, design, brokerage, property development, investment, project management, finance, expertise, funds, etc., will be represented. The program will be split into half days, each dedicated to specific topics. The conference theme, BUILDING HUMANITY, will be a guideline and the first one to be addressed to launch the 65th edition of the FIABCI World Congress.

Among the other topics to be addressed, Real Estate Opportunities will offer international professionals’ expertise dealing with the latest trends in the sector. Another half day dedicated to Cities & Technology will provide the keys to knowing more about how to improve management systems and future tools for real estate management. A specific theme about Finance & Tax will also be of interest for those who want to know more about regulations and transparency policies or the use of real estate for structuring their wealth. In addition, Architecture & Urban Design will deal with latest trends in international architecture and strategies for tomorrow’s cities. International and renowned guest speakers Each topic will be addressed by international keynote speakers, such as: Jeremy Rifkin - Leading the way to the Third Industrial Revolution Keynote speaker for the kick-off conference of the first half day BUILDING HUMANITY on Leading the way to the Third Industrial Revolution, Jeremy Rifkin is one of the most renowned contemporary economists and thinkers. Author of the Third Industrial Revolution book, he will highlight his theory on how fusion of new technologies and tools, combined with renewable energies can disrupt and improve our entire economic system, including real estate. Zhang Yue - The mission of architects Guest speaker for the topic Cities and Technology, Zhang Yue is Chairman and President of BROAD Group, also known as the man who built a 30-story building in 15 days. Using his experience, he will give an expert insight on The mission of architects or what’s next in most comprehensive building technics complying with today’s requirement for sustainable development. He is also at the origins of Sky City One’s project, the future highest tower of the world. Robert James Oliver - Executive wowen in real estate Guest speaker for the topic Real Estate Opportunities, Robert James Oliver is an International Asset and Property Management Professor, Master’s Programme, Department of Economics, SciencesPo. He is a career-long member of the Real Estate Board of New York and thanks to his international real estate experience, he will provide the audience with his expert view on Executive wowen in real estate. Rudy Ricciotti, Architect & Engineer Guest speaker of the last thematic half day on Architecture & Urban Design, Rudy Ricciotti is a renowned architect and engineer who won the Grand Prix National d’Architecture in France in 2006.

At the origins of striking projects in France, he has designed the Musée des Civilisations de l'Europe et de la Méditerranée in Marseille, Le Pavillon Noir in Aix-en-Provence. He also work abroad: the Berlin Philarmonic in Germany, the International Center of Art and Culture in Belgium or The Footbridge Of Peace Seoul. He will address the topic NO TITTLE. Other prominent speakers include Carlo Hein, President, FIABCI Luxembourg Flavio Gonzaga Nunes, World President, FIABCI Carlo Thelen, CEO, Luxembourg Chamber of Commerce Nicolas Mackel, CEO, LuxembourgforFinance Jason Hu, Mayor, Taichung City Government Wolfgang Feist, Founder, Passivhaus Institute Lily Chang, Chairwoman, Taichung Real Estate Development Association Pooran Desai, Co-founder, Bioregional Claude Turmes, Vice President of the Green Group in the European Parliament Paul James, Professor & Director of the Global Cities Institute (RMIT) and Director of the United Nations Global Compact Cities Programme Adrian Joyce, Secretary General, EuroACE Serge Krancenblum, Chairman, LAFO Michael Braungart, Professor, Cradle to Cradle The Meet & Match program will be soon available on the event website and will enable participants to meet professionals based on their profiles and interests. It provides the opportunity to generate new leads and benefit from great business opportunities. Indeed, each attendee will have the possibility of selecting people they want to reach and to organise their World Congress own schedule to take maximum advantage of this gathering.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 27

property wise

Be A Smart Real Estate Investor AVAIL TAX BENEFITS IF YOU HAVE EVER TAKE A HOME LOAN – REMEMBER THE FOLLOWING 5 POINTS 1. Home loan borrowers are entitled to tax benefits under Section 80C and Section 24 of the Income Tax Act. 2. In the case of co-owners may be 2 or even more then 2, all are entitled to tax benefits provided they are co-borrowers for the home loan too. The limit applies to each co-owner on individual basis. 3. A co-owner, who is not a co-borrower or a co-borrower, who is not a co-owner, cannot claim tax benefits. 4. The tax benefit is shared by each joint owner in proportion to his share in the home loan. It’s important to establish the share for each co-borrower to claim tax benefits. 5. The certificate issued by the housing loan institution, showing the split between principal and interest for the EMIs paid, is required for claiming tax benefits.

o make it more interactive, here a few direct questions to help you understand housing loans and tax planning.

Q-1What are Income tax benefits for housing loan under EMI Plan? You will be eligible to claim both the interest and principal components of your repayment during the year. • Interest can be claimed as a deduction under Section 24. You can claim up to Rs. 150,000 or the actual interest repaid whichever is lower. (You can claim this interest only when you are in possession of the house) • Principal can be claimed up to the maximum of Rs. 100,000 under Section 80C. This is subject to the maximum level of Rs 100,000 across all 80C investments (this section includes your Insurance premiums, PF or PPF deposits etc). Q-2 If I buy a house jointly with my wife and take a joint home loan, Can we both claim income tax deduction? Ans:-Yes, if your wife is working and has a separate source of income, both of you can claim separate deductions in your income tax returns. The repayment of principal amount

28 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

of the loan can be claimed as a deduction under section 80C up to a maximum amount of Rs.1 lakh individually by each co-owner. Each co-owner shall be entitled to the deduction individually on account of interest on borrowed money up to a maximum amount of Rs. 1.5 lakh. If the house is given on rent, there is no restriction on this amount. Both co-owners can claim deductions in the ratio of ownership. Q- 4 I plan to buy a house by raising loans from friends and relatives. Will I be eligible for tax benefit from all sources? Ans: – Interest payment to friends and relatives can be claimed u/s 24 but only against a certificate received from them. In the absence of the certificate, you would not be eligible for the deduction. The recipient of interest income who issues the certificate is liable to pay tax on the interest income that he receives. As far as the principal payments are concerned, they would not qualify for tax benefit as loans only from notified institutions and banks are eligible for such deductions. Q- 5 . Can I take advantage of tax benefits from a home loan as well as claim House Rent Allowance (HRA) ?

If you took a home loan and are still living in a rented place, you will be entitled to: 1. Tax benefit on principal repayment under Section 80C 2. Tax benefit on interest payment under Section 24 3. HRA benefit Of course, you can claim tax benefits on the home loan only if your home is ready to live in during that financial year. Once the construction on your home is complete, the HRA benefit stops. If you took a home loan, got possession of the house, have rented it out and stay in a rented accommodation, you will be entitled to all the three benefits mentioned above. However, in this case, the rent you receive would be considered as your taxable income. Q- 6. I have a home loan in which I am a co-applicant. However, the total EMI amount is paid by me. What is the total income tax exemption that I can avail of ? Yes, you can claim income tax exemption if you are a co applicant in a housing loan as long as you are also the owner or co owner of the property in question. If you are only person repaying the loan, you can claim the entire tax benefit for yourself (provided you are an owner or co-owner). You should enter into a simple agreement with the other borrowers stating that you will be repaying the entire loan. If you are paying part of the EMI, you will get tax benefits in the proportion to your share in the loan. Q- 8. I have two housing loans on two different properties. Can I get tax rebate under sec 80 C of both the loans? Yes, you can get the 80C benefit on both loans. However, the total amount that you will be entitled to will be a total of Rs 100,000 across both the homes. The interest paid on a home loan is not directly deductible from your salary income for either of your flat loans. Income from house property will be calculated for each flat you own. If either of theses calculations shows a loss, this loss can be set off against your income from other heads. As for Section 24 deduction, on your self occupied house you can take advantage of interest payments up to Rs.1,50,000. For the other property, you can claim actual interest repaid, there is no limit for the same

Q- 9.I live in Delhi in my own house. In 2008, I took a housing loan to fund the purchase of an under-construction flat in another city (Faridabad which comes under National Capital Region of Delhi but otherwise falls in Haryana). It is expected to be completed in FY14. I haven’t claimed any tax benefit so far. What happens to the loan installments I have paid so far? Can they also be claimed for tax benefit? According to the Income-tax Act, 1961, where the property has been acquired or constructed with borrowed capital, the interest payable on such capital for the period prior to the year in which the property has been acquired shall be allowed as deduction in five equal instalments beginning from the year in which the property is acquired. Thus, the interest included in the loan instalment paid by you during the construction period shall be eligible for deduction from the year in which the flat is acquired/construction is completed. The principal amount of the loan repaid till date shall not be available as a deduction under section 80C till the time the construction of the flat gets completed. Once the flat is completed and thepossession is handed over to you, you will be eligible to claim deduction for interest paid on the loan under section 24(b) and principal amount of loan under section 80C. The total amount of deduction available under section 80C shall be limited to Rs. 1 lakh. Thus, as of now, you are not eligible for any tax benefit on such loan repayments. Q. 10 Is there any additional deduction which I can claim in respect of Interest on Housing loan in addition to interest Under Section 24(b)? Ans. Finance Minister inserted a new section relating to the additional deduction in respect of interest on loan taken for residential house property. Assessee can avail the benefits of this section in two A.Y. 2014-15 & 2015-16.Purpose of this section is to promote house ownership & give a fillip to a number of industries like steel, cement, brick, wood etc. besides jobs to thousands of construction workers. to get more information on the please read the Full Article - Section 80EE Income Tax Benefit on Home Loan Interest

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 29

quotemagic

Don't wait to buy land, buy land and wait. Will Rogers

DOCUMENTS CHECK LIST FOR HOME LOANS Salaried Customers

Self-employed Professionals

Self-employed Non-professionals

Salaried NRIs

Self-employed NRIs

Application form with Photograph duly signed by all applicants

Application form with Application form with Photograph duly signed by Photograph duly signed by all applicants all applicants

Application form with Photograph duly signed by all applicants

Identity, Residence and age proof

Copy of valid passport showing visa stamps

Copy of Passport along with valid visa stamp

PAN Card copy of the main applicant

Copy of valid visa / work/ permit/equivalent document Supporting NRI Status of the Proposed account holder

Trade license or equivalent document

Last three Months Salary Slip

Education qualification certificate and proof of business existence

Proof of business existence

Latest contract copy evidencing salary/salary certificate / wage slips

Computation of income, P & L account and Balance Sheet for last three years Certified by the CA/CPA, or Any other relevant authority (or equivalent company accounts)

Form 16/ Income Tax Returns

Last three year’s income tax Returns with income computation

Business Profile

Overseas bank account Statement

Six months overseas bank account statements and Nre/Nro account

Last Six month’s bank statements

Last three year’s CA-certified / audited balance sheet and profit & loss account

Last three years’ income tax returns with income computation Last three years’ CA-certified / audited balance sheet and profit & loss account Processing fee Cheque

Last Six month’s bank statements

Last Six month’s bank statements (Self and business)

Processing fee Cheque

Note :- The above mentioned list of documents are inclusive and not exhaustive. The Bank / Financial Institutions may ask for any additional documents / information on case to case basis at their discretion.

property wise

How likely is a post-election recovery in India?

Elections round the corner and everyone is curious to know that what things will change post elections. For investors hopes are high that a new government will accelerate India’s economic growth, which officials last week said they expect to climb marginally from a decade low. We hear from JLL’s Anuj Puri about the chances of sunnier financial time after April-May’s general election.

32 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

hen Anuj Puri, JLL India Country Head and Chairman, boarded his flight to the WEF summit in Davos in late Jan 2014, he knew politics would be high on the agenda at the world’s most famous meeting of minds. India goes to the polls in April-May and after one of the worst chapters in the country’s recent economic history the stakes are higher than ever. For Puri the consequences of one election outcome are clear: a hung parliament won’t be good news for investment: “Investors want conclusive action,” says Puri. “We’ve had plenty of great intent, but too much over-promise and underdelivery. Investors at Davos are saying they’ll hold off for a couple of quarters for conclusive evidence that the new government means business. If it’s a hung parliament they just won’t be interested.” Latest opinion polls suggest the ruling Congress party is on its way out, with the opposition Bharatiya Janata Party (BJP), led by conservative nationalist Narendra Modi, set for record success. BJP will rely on its allies for a majority and Puri is hopeful coalition talks would run smoothly. “The worry is always that coalitions fall apart when it comes to handing out ministerial portfolios and top positions. But that shouldn’t be the case if BJP and its affiliates get in – they’re close allies who have worked together for years.”

Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India

not the case. I’d characterise the overriding feeling as ‘dissatisfied optimism’. Short-term there’s dissatisfaction, but long-term investors are far more optimistic, given the inherent potential. India is often referred to in the same breath as China – that’s how strong the fundamentals are. We

certainly have not been written off.” The net effect of the short-term anxiety and long-term confidence registered at Davos may be a zero sum gain for India. And that according to Puri is reason for relief, if not celebration: “I asked a major Indian business man what he thought was his conclusion at the end of the summit. He said nothing really very good or bad had come out of Davos for India…and that, in the grand scale of things, is a positive result.”

So is this short-term political uncertainty tainting the longterm outlook? Put aside pre-election political uncertainty and even the economic downturn and rising cost of living that has blighted the past few years, and India’s growth prospects are compelling. A vast army of young, educated Indians is set to turn the world’s second most populous country into a talent powerhouse; the median age is 26 (lower than the global average and much lower than China’s); the consumer base is growing fast as a swelling middle class comes online; by 2030 68 Indian cities will have populations of more than 1 million people, 13 cities will have more than four million and there will be six megacities of 10 million plus. Huge challenges and huge opportunities abound. Gauging belief in these fundamental growth indicators was one of Puri’s key objectives in Davos. His conclusion is positive: “My fear was that confidence may have abated, but that’s

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 33

property wise

What is 'Spillover Demand' in Real Estate? Developers study the locality's surrounding areas and analyze them for possible land acquisition and development potential. Builders with sufficient vision will have acquired surrounding land parcels well before the original location has reached its 'popularity peak'.

n real estate investment circles, we often hear the term 'spillover demand' or 'spillover effect'. It is a very important concept and serious real estate investors must have a clear grasp of it. Basically, the spillover effect in real estate pertains to the impact that a certain event or series of events in a locality has on adjoining localities.

34 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

The term spillover demand is most often used when a certain location is either reaching saturation point in terms of development potential, has begun commanding high property rates because of high demand, or both. When this happens, budget-bound home seekers who are interested in this area because of its location benefits or the desirability of the

neighbourhood are forced to look for options in the immediate vicinity. This is spillover demand. This is a predictable process with which both real estate developers and property investors are very familiar. Developers study the locality's surrounding areas and analyze them for possible land acquisition and development potential. Builders with sufficient vision will have acquired surrounding land parcels well before the original location has reached its 'popularity peak'. There is an obvious 'first mover' advantage for developers who sense and act on such opportunities well before the actual spillover demand hits the ground. Land prices tend to be lower, and the available plots tend to be of larger sizes. This enables them to plan larger projects at a future stage, which make for better brand positioning and also higher leverage when it comes to influencing the overall development of the area. However, there are also risks involved. The city planning and municipal authorities may be slow in providing basic infrastructure such as roads, sanitation and electricity and water supply in the areas adjoining the parent location. If this is the case, projects built in these areas will fail to attract home

buyers and investors until the locations themselves become viable. In a best-case scenario, a developer will have ensured that the city's development plan has indeed scheduled infrastructure enhancements to the new location. In Pune, some of the prime examples of spillover demand and infrastructure working together to successfully raise the real estate profiling of locations are Wagholi (spillover demand from Kharadi), Dhanori (spillover demand from Viman Nagar), Charoli (spillover demand from Dhanori, Viman Nagar and Kharadi), Baner (spillover demand from Hinjewadi) and Wakad (spillover demand from Hinjewadi and Baner). Timely infrastructure has been the common thread throughout these success stories. Likewise, the demand for homes in Mumbai spilled over from the unaffordable parts of the MMR to the Mira-Bhayander, VasaiVirar and Kalyan-Dombivali belts. However, Navi Mumbai has arguably been the greatest beneficiary of the spillover demand from Mumbai, thanks to superior infrastructure ensured by CIDCO. thus, the real estate market in now-prominent areas like Vashi, Koparkhairne, Airoli, Ghansoli and CBD Belapur is perpetual boom mode even today.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 35

property wise

Preet City - An Iconic Project in the Heart of Mohali Project is in the close vicinity of several landmarks like Mohali Cricket Stadium (PCA), the upcoming Mohali International Airport, the Knowledge Park that houses the Indian School of Businesses (ISB) and score of other prominent Head offices / institutions etc

36 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

he company incorporated in 2005 by visionaries Mr. Charan Singh Saini and Mr. K.S. Walia, who have led the company from an unknown entity to a prestigious brand well known all over the Tricity. Their foresight and experience continues to lead and inspire the team Preet City. The company is presently managed by a Board of Directors namely Sh. Charan Singh Saini, Sh. Kanwaljit Singh Walia, Sh. Narinder Singh & Sh. Yashpal. The board of Directors of the company is supported by a group of professionals in the field of real estate. The company is executing a Mega Project by the name `PREET CITY` at sector 86, S.A.S. Nagar Mohali (Punjab). It will be established as an inspirational icon comprising of residential plots, SCO`s, Group Housing Societies, Commercial pockets and multiplex business towers at a very reasonable price. The company is already armed with CLU of 104.33 acres of land in the first phase. All round construction work is in full swing. Market Niche Close to the Major Developed Industrial Areas & Renowned Institutions Like I.S.B & I.I.S.E.R & Upcoming IT SEZ where Giants like Infosys, Mahindra-Tech, Airtel are setting their operations. As India strides ahead into the new millennium, the seamless Tri-City (Chandigarh, Panchkula & Mohali) leads from the fore. Well connected to entire North India and especially to the Capital of India, at New Delhi, it is one of the key destinations of India. Mohali City is located strategically contiguous to Chandigarh, the capital of two most prosperous states of Punjab & Haryana. Thus Mohali presently offers quality of life and design system almost similar to Chandigarh with streamlined planning & architecture. Tricity region is targeted by an increasing number of outsourcing IT companies and other Multinational Companies (MNCs) who seek to capitalize on the rich investment opportunities available in the city. The Most Sought After Location, Sector 86 In the Heart of Mohali, next to upcoming commercial sector 87, PLP has an excellent location & advantages. Being a part of Mohali, our Mega Project namely “Preet Land promoters & Developers Pvt. Ltd” at Sector-86 is surrounded by Sectors 79, being developed by PUDA/GMADA, Sector-85 (Wave Estate of Wave Group, formerly The Chadda Group),

Sector-98 and Sector-87, which would also be developed by PUDA as Mohali City Centre similar to Sector-17 of Chandigarh. Multiplying its remarkable stance by countless folds, our Project is also in the very close vicinity of incomparable landmarks like the globally famous Mohali Cricket Stadium (PCA), the Chandigarh International Airport, the Knowledge Park that houses the Indian School of Businesses (ISB) and score of other prominent Head offices / institutions etc. Distances (Approx) from Sector-86 to Important Milestones Airport : 7.0 Kms ISBT 43 : 5.0 Kms ISBT Mohali : 3.5 Kms Mohali Railway Station : 3.0 Kms Fortis Hospital : 2.5 Kms PCA Stadium : 2.5 Kms Millennium World School : 3.5 Kms Y.P.S School : 7.0 Kms Market : 3.0 Kms Modern & Blissful Living It is located at the most premium site of the township, “Group Housing” project namely “Eiffel Towers” is also coming up at Sector-86, which is being developed by the company. This group housing would take modern living to new heights of comfort and bliss. It has been developed to ensure abundant spaciousness, natural sunlight and great ventilation. Located at an altitude that allows a scenic view it offers a living place of complete serenity. Advantages & Salient Features of PLP • “Preet Land Promoters & Developers Pvt. Ltd.” is a self-contained and integrated ultra-modern township with Residential, Commercial, Retail & Community / Recreational Spaces. • The Project area is approachable from all four sides by 200 ft. and 150 ft. wide sector roads and is seamlessly connected with Chandigarh & Mohali. • The road network of Sector-86 is designed after a careful study of vehicular traffic so that high traffic movement areas of township are confined and vehicles do not crisscross the residential areas, as far as possible. • All build-up structures of “Group Housings” will be earthquake resistant and will comply with Seismic Zone IV design requirements applicable for the area. •

Fortis Hospital, MC Bhawan of Mohali, famous schools

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 37

(like Millennium School, YPS, Doon School etc), PUDA Bhawan, PCA Cricket Stadium and other prominent land marks are just 2.5 kms to 4 kms away from Preet City. • A 450 acre Knowledge Park is located next to it which further strengths the position of the Tricity as the next big destinations for knowledge industries in the near future. • Residents & customer on shopping spree will have adequate parking spaces. • The largest industrial town in north India, Ludhiana is just 90 kms away. •

Apart from its beautiful residential space, high profile

38 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

Shop cum Offices (SCOs) will give our Mega Project a highstreet air. Luxury star hotels and dazzling mall, multiplex & entertainment areas are likely to add on in the very near future. It is anticipated that Grandeur will reflect at every corner of this ultra-modern township, transforming a normal life into a truly larger than life experiences.

(Advertorial)

quotemagic

Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world. Franklin D. Roosevelt

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 39

property wise

CARE Assigns “NCR 5-Star” Rating to The Aranya (Phase-I) by Unnati Fortune Holdings Limited Project Star Rating Rationale • Project developer quality Unnati Fortune Group is promoted by Mr. Anil Mithas (Chairman & MD), who has wide experience in the infrastructure industry. Since the group’s inception in 2001, its main focus was on the infrastructure sector which involved construction & up-gradation of roads, highways & other government infrastructure projects including construction of community centres and government buildings. The group also has a presence across other sectors like hospitality, manufacturing of disposable tableware and real estate. The developer has not yet delivered a group housing project as on date and at present has four ongoing projects in and around Delhi NCR including The Aranya- Phase I. • Project construction quality and amenities The company has tied up with experienced consultants for civil construction, architecture, structural planning and project management. The civil construction for the project is done by Tamta Construction Company Pvt. Limited, which has an experience of 32 years in this line of activity. Furthermore, the company has hired Fairwood project management & consultancy services Pvt Ltd for managing the operations at the site. Also, the company has tied up with Nexus Plus Consultants Pvt Ltd and Srishti Project Consultants Pvt Ltd as architects and structural consultants of the project respectively. Both these companies have considerable experience and have been associated with many other similar size projects in and around Delhi NCR. The enterprise resource planning (ERP) system used by Aranya has been developed by Pinga Solutions, one of the Real Estate ERP Providers, which provides the key reports regarding the sales details, collection efficiency, etc and the same are reported to the management frequently. Apart from the basic necessities like water provision, power backup, car parking, the project has various amenities including a club house with facilities like gymnasium, swimming pool, tennis and badminton courts, billiards & snooker and card room, 24/7 security guard service, advanced 40 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

fire fighting systems. Furthermore, there is a provision for rain water harvesting, sewage treatment plant and around 70% of the total area has been reserved for lawns, parks, open and landscaped greens that include swimming pool, aromatic garden, sports lawn, jogging tracks, graveled paths etc. • Project legal quality The land measuring 72594 sq. metres had been allotted to IVRCL Limited (IVRCL) from NOIDA on a leasehold basis for 90 years through a lease deed dated March 23, 2007. Further, Unnati Fortune group has obtained the development rights of the same from IVRCL through a general development agreement dated October 31, 2011. The company has its building plan and map approved for FAR of 1.5x from NOIDA, which corresponds to “The Aranya-Phase-I” and comprises of eight towers with 1,347 Flats. Going forward, the company plans to get the FAR increased to 2.75x and the increased number of towers and flats would be constructed in the next phases. • Project financial quality The total project cost of Rs.542 crore is likely to be funded

through Rs.47 crore of equity and the rest through customer advances. The funding risk of the project is medium as the company has already achieved comfortable sales booking of 56% as on September 30, 2013 with sale value of Rs. 370

crore, of which Rs.144 crore has already been received. Nevertheless, the high dependence on customer advances makes it imperative for the company to achieve sales progress as envisaged.

Project Profile Project Name

The Aranya Phase-I

Project Type Residential Project Location

Sector 119, Noida (U.P)

Development Type

Leasehold land from NOIDA for 90 years

Project Start Date

October 2011

Physical Construction Completion Date

June 2015

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

the date of signing builder buyer agreement

Total Saleable Area

18.35 lac square feet (lsf)

Construction Status

The development of project is at a initial stage. As on September 30, 2013, the company has incurred 30 % of its total construction cost. The construction for all the eight towers in phase-I is under process. As on September 30, 2013, while the construction has reached 9th floor for 3 towers at relative advanced stage, the foundation and 1st floor casting work is in progress in other towers

Project Developer Profile Name of the company developing the project

Unnati Fortune Holdings Limited

Project developer group

Unnati Fortune Group

Development Experience of the developer group Nil* No. of years in the industry

No. of projects developed till date

Nil*

Total Area developed till date

Nil*

No. of projects ongoing

* the company has wide experience in infrastructure sector which involved construction & up-gradation of roads, highways & other government infrastructure projects including construction of community centres and government buildings

Project Developer Unnati Fortune Group, promoted by Mr. Anil Mithas (Chairman & MD), has its presence across varies sectors like Infrastructure, Hospitality, Manufacturing of disposable tableware and Real Estate. Since its inception in 2001, the groupâ&#x20AC;&#x2122;s main focus was on the infrastructure sector which involved construction & up-gradation of roads, highways & other government infrastructure projects including construction of community centres and government buildings. The company has completed various projects since inception for renowned clients like Noida, Gurgaon Devepment Authority (GDA), Uttar Pradesh State Industrial Development Corporation (UPSIDC),

and Public Works Department (PWD). Other interests of the group involve manufacturing of highquality plastic disposable tableware (dinnerware, cutlery, plates, etc), operations of two service apartments (The Elite Address, Sector 119, Noida and Aranya Service Suites) and four ongoing real estate projects including Aranya in Noida and the adjoining areas. The group is managed by experienced professionals from diverse backgrounds. Mr. Anil Mithas, a first generation entrepreneur, has been associated with various start ups in PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 41

shipping, logistics and infrastructure industry. After gaining considerable experience from these sectors, Mr. Mithas diversified into the real estate sector with launching of four real estate projects including Aranya. He looks after the day to day operations of the group and is supported by an experienced management team compromising of Mr. Govind Sharda (Group CFO, experience of more than 30 years), Mr. Anoop Kumar Singh (Senior VP-Projects, Civil Engineer having 27 years of experience), Mr. Tushankur Saroha (VP – (Finance & Accounts), experience of more than 18 years), Mr. Aditya Kushwaha (AVP-Sales & Marketing, 6 years of experience associated with real estate industry), Col. Vinod Chaswal (VP-Commercial , experience of 28 years), Mr. Pranay Jain (VP- Projects, Civil Engineer with experience of 25 years) & Mr. Pankaj Sethi (Vice President Corporate Affairs, experience of 34 years) amongst many others. Project Details The project Aranya is a high-rise Group Housing Project located at Noida, spread over a land admeasuring 18 acres. The company has plans to develop the entire project in two phases, with the first phase comprising of eight towers with 1,347 Flats having saleable area of 18.35 lsf. The first phase of the project is scheduled to be completed by June 2015. The project is located in the city of Noida which falls within the National Capital Region of India’s capital New Delhi. The project is in close proximity of the already developed townships/ projects like Gaur Grandeur, Amrapali Platinum, Amrapali Zodiac, Eldeco Amantrum, etc. The land is a 4-side open plot

with green belt area of 20 metres all around. The project is located at a distance of approximately 6 kms from the nearest metro station (Noida City Centre metro station), 11 kms from Noida sector 18 (CBD of Noida), 27 kms from Connaught Place (Central Business District of NCR) and 35 kms from IGI International Airport. Also, the project neighbourhood area provides decent connectivity to adjoining schools, hospitals and commercial areas. The project has been designed in conformance with seismic zone IV requirements, as required in the area. Highlights of the Project • 70% of the total land area as green area. • Provision of STP with 70% of the waste water will be recycled and used in gardening and flushing purpose • Rainwater harvesting plant • Landscaped Greens with Children Play Area • Jogging Tracks • Advanced Fire Fighting systems with Water Sprinklers, Smoke Detectors, Fire Doors, Staircase, etc. • Infinity Swimming Pool • Over head tanks for each building. Underground sumps also available. • Lawn areas and club house • 100% Power back up (generators); Power Backup of 5 KVA for each unit. • Video Doorbell System and 24/7 Security guard • Basement Car parking • Water purification systems, Fan, lights, quality electrical switches, ward robes, etc in each unit.

Current status of the project Particulars

Remarks

Towers 1, 2 & 3

Foundation, Basements, Podium and 8th floor slabs completed; 9th floor in progress

Towers 4 and 5

Foundation complete. Basements being constructed.

Towers A, B and C

Foundation, Basements, Podium completed; 1st floor casting in progress

The development of the project is at an initial stage. As on September 30, 2013, the company has incurred 30% of its total construction cost.

associated with various reputed projects in and around Delhi NCR, primarily of groups like Omaxe, Amrapali. The same are also associated with the Unnati Fortune Group for the last 2 years.

Brief particulars about various contractors is as follows – 1. Architects The company has hired Nexus Plus Consultants Pvt Ltd (NPCPL) for providing consultancy for the overall layout and design of the project. NPCPL has an experience of over 20 years and has been successfully providing consultancy in the field of architecture and has successfully executed projects of various nature like Group Housing Schemes, Apartments, Residences, Commercial Complexes, etc. NPCPL has been 42 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

2. Structural consultants The structural consultants of the project are Srishti Project Consultants Pvt Ltd (SPCPL). SPCPL has an experience of 30 years and have been associated with 10 similar size projects in and around Delhi, primarily of the Amrapali group. The same are also associated with the Unnati Fortune Group for the last two years.

3. Civil Engineers The civil work is being handled by Tamta Construction Company Pvt Ltd (TCCPL). TCCPL has an experience of 32 years and have been associated with the Unnati Fortune Group for the last 1.5 years. Also, the entire construction is being overseen by the management team with an in-house team of engineers and technicians. 4. Project management The company has hired Fairwood project management & consultancy services pvt ltd (FPMCS) to manage the entire project at the site. FPMCS which has an experience of 21 years with working with groups like Jaypee, Sheraton Hotels, etc. Apart from managing the entire operations, the company also regularly provides details regarding the raw material procurement, usage, requirement, etc on a regular basis to the management. Also, the raw material procurement and labour contracts are managed by the company management. In order to maintain a high quality of its construction, the company procures steel from big players like TATA, SAIL, JSPL and JSW. The company has also established a laboratory on site, which is equipped with the latest technology and equipment for routine tests at the site. Moreover, the steel and the couplers being used in the construction are also tested from various laboratories outside. Also, the project uses a combination of column along with Raft foundation technique. Moreover, the developer uses Real Estate Management ERP system developed by “Pinga Solutions” to keep track of project’s quality and progress. The software prepares regular reports to enable efficient tracking of all pre sales services, post sales services, customer relations, etc. Also, the project management consultants of the company, Fairwood Project Management & Consultancy services Pvt Ltd, provides details regarding the raw material procurement, usage, requirement, etc on a regular basis. Also, the company has established a laboratory on site, which is equipped with the latest technology and equipment for routine tests at site and it regularly generates the necessary reports to ascertain the quality of the raw material used in the construction. Depending on the type of the reports, these reports are generated periodically and the same are shared with the management as they are actively involved in the day to day status of quality, sales and procurement. Project legal status The land measuring 72594 sq. metres had been allotted to IVRCL Limited (IVRCL) from NOIDA on a leasehold basis for 90 years through a lease deed dated March 23, 2007. Unnati Fortune group has obtained the development rights of the same from IVRCL through a general development agreement dated October 31, 2011.

The company has its building plan and map approved for FAR of 1.5x from NOIDA, which corresponds to “The AranyaPhase-I” and comprises of eight towers with 1,347 Flats. Going forward, the company plans to get the FAR increased to 2.75x by making the necessary payment as per NOIDA Authority rules, in consideration for allotment of increased FAR. The increased number of towers and flats would be constructed in the next phases. Key features of sale agreement The buyer agreement has been drafted and executed between developer and buyer. The buyer agreement provides details of possession timeline, key deliverables, payment schedule, penalty on buyer and seller, cancellation terms and maintenance terms among other details. Project financial status The total project cost of Rs.542 crore is likely to be funded through Rs.47 crore of equity and the rest through customer advances. The company has achieved comfortable sales booking of 759 units and 10.23 lsf (56%) as on September 30, 2013 with sale value of Rs.370 crore. Also, the company has already received Rs.144 crore (39% of the sales) as on September 30, 2013, thereby indicating reasonable collection progress. Nevertheless, with high dependence on customer advances, the sale of the remaining inventory as envisaged and the timely collection of customer advances would be important for completing the project in a timely manner. Also, the execution of the project is still in the initial stages with Rs.176 crore of cost incurred (32%), funded through Rs.32 crore of the promoters’ funds and the rest through customer advances. Therefore, as a significant portion of the project is still to be executed, the execution risk remains high. 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.

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.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 43

be a prosperity seeker

Kapil Sharma in forbes India Celebrity list

Brand Ambassador - Earth Hour 2014

Kapil Sharma stand-up comedian, anchor, singer and actor, selected among top 100 celebrities in 2013 Forbes India magazines and ranked 96th in that list. Currently he is hosting the Indian comedy show "Comedy Nights with Kapil". In 2008, Sharma hosted a comedy show Chhote Miyan and Jhalak Dikhla Jaa season 6. In 2009, he joined the comedy reality show Hans Baliye as a wild card entry. He also won comedy series Comedy Circus Ke SuperStars, Comedy Circus Ka Jadoo, Jubilee Comedy Circus, Comedy Circus Ka Naya Daur and Kahani Comedy Circus Ki on Sony India. At CNN-IBN Indian of the Year awards, Sharma was felicitated with Entertainer of the Year award for 2013 by Amol Palekar in recognition of his contribution to the show. In 2014 Lok Sabha Election, he has been declared the Brand Ambassador by Delhi election commission.

Bollywood star, Arjun Kapoor has teamed up with WWF-India to pledge his support to Earth Hour 2014 – WWF’s global campaign to raise awareness and inspire individual action on climate change. Earth Hour enables individuals, organisations, governments and groups to show their support for policies and practices that balance development and environmental concerns. Earth Hour is a worldwide movement for the planet organized by the World Wide Fund for Nature (WWF). Earth Hour engages a massive mainstream community on a broad range of environmental issues. It was started in Sydney, Australia in 2007.

44 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

The event is held towards the end of March annually worldwide.

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

REVA at Formula E Championship

Kangana Ranaut – The rising star

Good Bye Fuel, Hello Electric. Beginning September 2014, Mahindra REVA and Mahindra Racing will join the inaugural FIA Formula E Championship. Formula E is a new FIA championship featuring Formula cars powered exclusively by electric energy. The innovative all-electric global race series will include 10 races in its first season in leading cities around the world, including London, Beijing and Los Angeles, designed to raise awareness about electric vehicles as well as help advance EV technology. The Mahindra REVA Electric car latest model is pronounced as ‘Ee-too-oh’, the electric vehicle, e2o has been named keeping in mind the overall philosophy of “inspired by orange to go green” for sustainable living. The ‘e’ in Mahindra e2o stands for the energy of the Sun which is abundant and clean. The ‘2’ pronounced as ‘to’ signifies the connected technologies in the car, while ‘o’, represents ‘Oxygen’, the life force that sustains all of our existence on Planet Earth.

Kangagna has established herself as a leading actress of Hindi cinema with the comedy-drama movie 'Queen'. Born in a small town in Himachal Pradesh, Kangana Ranaut made her feature film debut with the 2006 thriller Gangster, for which she was awarded the Filmfare Award for Best Female Debut. She subsequently received praise for portraying emotionally intense characters in the dramas Woh Lamhe (2006), Life in a... Metro (2007) and Fashion (2008). Ranaut subsequently featured in the commercially successful films Raaz (2009) and Once Upon A Time In Mumbaai (2010). A comic role in the 2011 box office hit Tanu Weds Manu proved to be a turning point in her career, though this was followed by a series of brief, glamorous roles in films that failed to propel her career forward. She then portrayed a superwoman in the science fiction film Krrish 3 (2013), one of the highest-grossing Bollywood films of all time. PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 45

amazing buildings

World's largest solar furnace

s far as energy sources go, focused solar heat is ancient. In ancient Greece, glass vases were filled with water to create a "burning glass" and as the Greeks got better at creating lenses, focused sunlight was used to light sacred fires and even cauterize wounds. The most famous of these solar powered burning lenses is the system Archimedes is said to have used to ignite a fleet of Roman ships. And it wasn't just the Greeks and Romans who used solar power lenses either, "Visby" lenses made of ground rock crystal were used by the Vikings in the 1000s, and similar technology is believed to have been used by the Celts and even the ancient Egyptians.

The world's largest solar furnace is located in Font-RomeuOdeillo-Via, a commune in the sunny Pyrenees mountains on the French-Spanish border. The furnace consists of a field of 10,000 mirrors bounce the sun's rays onto a large concave mirror which focuses the enormous amount of sunlight onto an area roughly the size of a cooking pot which reaches temperatures above 3,000 Â°C or 5,430 degrees Fahrenheit. The solar furnace itself isn't exactly new. The first modern solar furnace was built in Mont Louis, in 1949 by professor FĂŠlix Trombe, and the current one was constructed in 1970. However the solar furnace continues to generate a beam of focused sunlight as powerful today as it was 3000 years ago.

quotemagic

Fact Of Life

If everyone is happy with you,

then surely you have made many compromises in your life.

If you are happy with everyone,

surely you have ignored many faults of other

amazing gadgets

Print a House using 3D printer The D-Shape 3D Printer is potentially capable of printing a two story building - complete with stairs, partition walls, columns, domes, and piping cavities - using only ordinary sand and an inorganic binder.

he growing popularity of 3D printers, such as theÂ PrintbotÂ or MakerBot'sThing-o-Matic, testify to the fact that additive manufacturing is slowly entering the mainstream. The devices are now small enough to fit on a desk and they can make all sorts of stuff, such as toys, chess figures, or spare door knobs. But what if you want to make something slightly bigger - say, a house? Then you need to turn to Enrico Dini, the founder of Monolite UK and the inventor of the D-Shape "robotic building system." The D-Shape is potentially capable of printing a two story building - complete with stairs, partition walls, columns, domes, and piping cavities - using only ordinary sand and an inorganic binder. The resulting material is said to be indistinguishable from marble, and exhibits the same physical properties, with durability highly superior to that of masonry and reinforced concrete. The building process is very close to what we'd expect of a huge 3D printer. A nozzle moves along a pre-programmed path, extruding a liquid adhesive compound on a bed of sand with a solid catalyst mixed in. The binding agent reacts with the catalyst, and the solidifying process begins. Meanwhile, the remaining sand serves to support the structure. Then, another layer of sand is added and the whole process is repeated. Since

48 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

it's computer assisted, no specialist knowledge is required to use the printer. All that's needed is a CAD design file. The desired structure is erected in a single work session, starting from the bottom up. The solidification process takes 24 hours to complete, but subsequent layers, 5-10 mm in thickness, may be added without delay. The annual output of the current model of D-Shape is estimated at 2,500 square meters (26,910 sq ft), which is equal to 12 two-story buildings. Reportedly, the building process takes a quarter of the time required to build an equivalent structure with traditional means. The time gap widens in the case of structures with custom shapes. Traditionally, Portland cement is used to achieve concave or convex forms. The process is extremely timeconsuming, as it often involves manual casting, intricate scaffolding, and other steps. D-Shape, by contrast, can handle such designs just as quickly as it handles regular walls. This all sounds very promising. However, since the inventors themselves haven't yet managed to print a proper house using their machine, we expect it may take some time for this technology to prove itself. Still, it seems like it already has a lot to offer, especially to those who value creativity over practicality. As you can see it puts Dini's efforts to revolutionize the construction industry into a broader perspective.

A true leader is one who is humble enough to admit their mistakes.

quotemagic

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 49

world heritage sites

China’s Great Wall is one of the world’s great feats of engineering and an enduring monument to the strength of an ancient civilization.

hina’s iconic Great Wall, actually a network of fortifications rather than a single structure, is the product of countless labors over a period of some two thousand years. Qin Shi Huang took the remnants of truly ancient fortifications, walls, and earthworks begun in the fifth century B.C. and linked them into a unified wall circa 220 B.C. as part of a massive project to protect China against marauding barbarians from the north. By the time construction on most of the stone-and-brick Great Wall, with its turrets and watchtowers, was completed during 50 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

the Ming dynasty (1368-1644) the chang cheng had become the world’s largest human-made object. A recent government mapping project revealed that the entire Great Wall structure spans some 5,500 miles (8,850 kilometers) from the Korean border west into the Gobi desert. Of that total 3,889 miles (6,259 kilometers) were actual wall, while 223 miles (359 kilometers) were trenches and (1,387 miles) 2,232 kilometers were natural defensive barriers, like rivers or steep hills, incorporated into the system.

eyecatchers

Satya Nadella ceo microsoft

ur eye catcher this month is Indian born Satya Nadella who becomes the third CEO of Microsoft bringing in a relentless drive for innovation and a spirit of collaboration to his new role.

Satya Nadella was born in Hyderabad, India in a Telugu family from Anantapur district in Andhra Pradesh to B. N. Yugandhar, an IAS officer who was a member of the Planning Commission during 2004â&#x20AC;&#x201C;2009 under Prime Minister Manmohan Singh. Nadella attended the Hyderabad Public School in Begumpet before attaining a bachelor of engineering in Electronics and Telecommunications from the Manipal Institute of Technology. After moving to the US, Nadella earned an MS in Computer Science from the University of Wisconsinâ&#x20AC;&#x201C; Milwaukee in 1990 and an MBA from the University of Chicago Booth School of Business. PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 51

amazing getaways

Â Jules Undersea Lodge Key Largo, Florida, USA

52 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

ules Undersea Lodge is 21 feet under the ocean's surface, and you'll enter the lodge through an opening in the hotel floor.Â

Originally an underwater research laboratory, the lodge rests in a mangrove lagoon, which serves as a natural nursery for reef fish like parrotfish, snapper, tropical angelfish, oysters, and anemones.Â Guests at the lodge are allowed an unlimited number of tanks for the hotel-provided scuba gear.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 53

amazing sites

THE BLACK FOREST

54 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

he Black Forest (Schwarzwald) gets its name from the dark canopy of evergreens, though itís also dotted with open slopes and farmland. And while some parts heave with visitors, a 20-minute walk from even the most crowded spot will put you in quiet countryside dotted with enormous traditional farmhouses and patrolled by amiable dairy cows. Itís not nature wild and remote, but bucolic and picturesque. As the setting of countless Grimm Brothersí fairy tales, the Black Forest happily plays up to its image as a land of cuckoo clocks, cherry g‚teaux, outlandish traditional garb, hefty halftimbered farmhouses and hill upon hill of dark evergreen forest.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 55

quotemagic

Life is a gift.

never forget to enjoy and bask in every moment you are in.

56 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

planetsavers

Get involved with Earth Day!Â Nothing is more powerful than the collective action of a billion people. Earth Day 2014 will seek to do just that through its global theme: Green Cities.

very year on April 22, over a billion people in 190 countries take action for Earth Day. From San Francisco to San Juan, Beijing to Brussels, Moscow to Marrakesh, people plant trees, clean up their communities, contact their elected officials, and more - all on behalf of the environment. Like Earth Days of the past, Earth Day 2014 will focus on the unique environmental challenges of our time. As the worldâ&#x20AC;&#x2122;s population migrates to cities, and as the bleak reality of

climate change becomes increasingly clear, the need to create sustainable communities is more important than ever. Earth Day 2014 will seek to do just that through its global theme: Green Cities. With smart investments in sustainable technology, forward-thinking public policy, and an educated and active public, we can transform our cities and forge a sustainable future.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 57

amazing facts

James Cameron (film director, producer, maker of The Terminator, Aliens, True Lies, Titanic, Avatar)

James Cameron Reached the Deepest Known Point in the Ocean Cameron was the first solo human to reach the bottom of the Mariana Trench. At 6.8 miles deep, it is perhaps more a more alien place to scientists than some foreign planets are. The 2.5-story ĂŹvertical torpedoĂŽ sub descended over a period of two and a half hours before taking a variety of samples.

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bookshelf

Michael Justin Lee

ith stories and anecdotes from Chinese history, both in the world at large and the particular ChineseAmerican experience, this book does provide some insight into Eastern philosophy, but it is a tenuous string to Chinese wealth and prosperity (and that assumes one considers the Chinese wealthy and prosperous, which certainly could be an interesting argument). The fact that this book is short, clearly written, and well-organized makes it a worthwhile read. Like most books on investing, however, the reader will have to wade through and weed out the less useful things to get the most from the book.

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 59

vaastu

Get Your Business Goals with Feng Shui Vaastu Shree, Vaastu Visharad Shri Naresh Singal, Vaastu & Feng-Shui Consultant. For any further queries on the subject, readers can contact him on mail@vaastunaresh.com

60 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

elieve it or not, but we all are a bit superstitious. We put our best efforts to give a perfect start-up to New Year day. Despite of late night parties with near and dears on 31st December, we get up on our routine time in the morning and go to office, school or college. Not only this, we work with more energy, with more enthusiasm with a pre mind set-up to give our best and to get the best in the year just begun. Isn’t it? Some of my friends, may be, wouldn’t like the tag of superstitious. They can call themselves optimistic. My dear friends, this optimism is required to begin well. And you must have heard the famous quote- well begun is half done. If you begin well your year it will definitely end well. You may begin with a goal to make your business more prosperous. You may plan for a more harmonious environment that both invigorates and supports you and the people you work with. Or you may set a goal for adding more zero/zeros to your annual turnover/salary. Dedication, hard work and a favor from luck is all you need to get your goals. If you want your dedication and hard work to be fruitful and a favor of luck you might want to consider the use of feng shui, the ancient Chinese art of placement. The literal translation for the Chinese words ‘feng’ and ‘ shui’ are ‘wind and ‘water’. It is through wind and water that chi (energy) flows through nature and universe. Chi should not be impeded but balanced so that any negative forms may be offset with positive adjustments. Follow the teachings of feng shui and enjoy its many benefits that can indeed help create a peaceful, successful, profitable work environment. • Declutter your desk and workplace- According to feng shui, work performance and business wealth can be increased by decluttering and establishing order on your desk. Productive chi cannot flow if all that “stuff” on your desk is blocking its movement and cluttering up your mind. • Take everything off your desk and clean up any cluttered areas around it. Put back only items that are used every day, and papers on your desk must be limited to those for one project only. Other items and papers should be placed elsewhere; in file cabinets, desk drawers, and storage cabinets/containers. • Add things that are lovely, positive and career-enhancing. Use the ba-gua to guide you. Ba-gua is one of the most powerful tools in feng shui to create positive changes. The ba-gua is an octagonal chart that depicts the eight points of a compass. Each direction on the compass focuses on a different facet of life. Using this knowledge can help to achieve goals in all aspects of life.

• South-east influenced wealth and fortune. To generate more wealth to your business, place a red or purple artefact on south-east corner. You can place a gem tree or wealth favouring laughing Buddha in this zone. • The eastern side of your desk is your health, growth and family area, represented by wood and the colour green. A plant would be nice in this space or a family picture in a wood frame. A bamboo tree is an ideal gadget for this area. • Position of Your Desk in a Room or Office- the happiness, success and prosperity you have in your business life is greatly influenced by the position of your desk. The optimal position is one in which your desk is set back to view as much of the room as possible, with your back to a wall. You should also have a view of both a window and the door, but never in direct line with the door. Diagonal desk and door alignment is best. The doorway or window should never be directly behind your back; to do so would invite negative energy. • Water is the most powerful symbol of money in feng shui. Its sparkling chi energy is beneficial for your health and prosperity but care must be taken to keep water fresh and clean. Fountains are wonderful but be sure their water flow is not blocked, stagnant or very rapid. Another great choice is either a fish tank or aquarium. Consider including goldfish in your tank as gold is a Chinese symbol for money and is thought to attract it. North and north-east are the ideal directions to place the water body. • Flowers and Plants- Live plants and flowers bring many positive elements into the workplace. Aside from their natural beauty, their green colour encourages personal and business growth. Avoid any cactus or plants with sharp-looking leaves as these may cause inflow of negative energy .To bring their positive influences, plants and flowers must be healthy and flourishing. If a plant dies, remove it and replace it with another. Keep in mind it better to have a silk plant than none at all. • Your date of birth can play vital role in achieving your desired goal for the year. Your date of birth can tell your personal favourable direction. Heading towards this direction in the office or placing a powerful feng shui gadget here can do miracles in your business. You may knw your personal favourable direction by consulting with a feng shui expert. He can also advise you that how you can get best out of that.

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healthy living

7 Secrets to Living to 100 in Good Health

hen the first U.S. Census was conducted in 1790, only 2 percent of the population was over 65. In 1900, the average American lifespan was only 47. People who made it to 100 were considered freaks of nature. Today, people with a three-digit age are common. There are more than 100,000 of them in the U.S., and the number is accelerating rapidly. But Dr. Jones believes that merely making it to 100 is setting the bar too low. Everybody’s goal should be to live longer – but also healthier. It’s that last part that is giving Americans trouble, he says. “We are living longer, but we are not necessarily living healthier,” says Dr. Jones, “this is mainly due to lifestyle factors, he said”. Here are six ways Dr. Jones says that will dramatically increase your chances to make it to 100 in good health: 1. Take control of stress. When you’re under stress, your body releases cortisol, known as “the stress hormone.” Cortisol accelerates your bodily processes, speeding up aging. Focus on relaxation in your daily life. Events themselves are not stressful 62 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

– it is your response that makes you tense. For example, if you’re stuck in traffic, don’t spend the time whipping yourself into road rage. Instead, listen to the radio, meditate, or pray – you’ll get there in the same amount of time, but you won’t be stressed out. 2. Get plenty of sleep. There is a myth that older people need less sleep. But adults need seven or eight hours, no matter their age. However, as you age deep, restorative sleep becomes more elusive. A few hours before bedtime, avoid caffeine or alcohol, relax quietly, and avoid activities that are stressful or require high alertness. Investing in a good-quality mattress and bed linens can also make a difference. 3. Laugh a lot. A good belly laugh reduces blood pressure, clears the lungs, and produces endorphins, the so-called “happy” hormone that reduces pain. The average child laughs 300 times a day. Adults: 17 times. Research shows that keeping laughter alive keeps you alive. Make it priority to look for humor in life. 4. Exercise daily. Your body craves movement. The worst thing you can do for your health is sit around and do nothing. Even if you’re 80, it’s never too late to start exercising, research shows. In fact, exercise benefits “late bloomers,” even more than people

who have been active their entire lives. That’s why someone who is 80 and starts a conditioning program can suddenly put on some muscle. The mistake people make is in treating exercise like it’s torture. The key is finding an activity you enjoy and making it part of your routine. 5. Find a companion. Studies show that people live longer if they are married, part of a couple, have close friends, or have pets. Make it a goal to meet people. Volunteer at church or community groups. Don’t be afraid to be alone, but beware of social isolation. 6. Use your brain. Years ago, doctors believed that, unlike other organs, the brain could not regenerate. Now we know this is not true. Important connections between brain cells can be re-established. When your brain is stimulated, more connections are

made, no matter your age. Stimulate your brain by learning new things. Take up a new hobby, learn a new language, or just break out of your routine. Take a different route home, explore a different neighborhood, and try eating with your left hand instead of your right. 7. Live in the moment. No matter how perfectly you live your life, you are not going to live forever. So pay attention to what is happening in the moment, and don’t waste valuable time mourning the past or worrying about the future. No matter what you’re doing, whether it’s spending time with your friends, being with your co-workers, or even just getting ready to go to sleep, relish every moment. Treat everyday as a gift – that’s why it’s called the “present!”

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 63

softcorner

Being Human

Bollywood Star Salman Khan’s charitable organization “Being Human”, is an NGO dedicated to spreading health care and education for the underprivileged. Salman Khan has undertaken several initiatives such as campaigning for the sale of “Being Human” merchandise like art and Gold coins. All the proceeds from goes to the NGO. A range of merchandise starting with his signature clothing line sells online and in stores for the benefit of the NGO. In November 2010, the organization tied with MDRI to raise awareness and create database of marrow donors in India for patients suffering from blood related illness such as leukemia and aplastic anemia. Khan facilitated the release of over 400 inmates who already had served their sentences but were locked up due to economic reasons. The artist even arranged the screening of a national award winning film produced under his banner for under privileged children. 64 PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014

Mr. Ajay Gupta

PROPERTY & WEALTH VOL 3, ISSUE 05, April-May 2014 65

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