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The Hindu : Apartment prices keepsoaringReal estate services firm Cushman & Wakefield has said that property values in South Mumbai, where BJP MP Vinod Khanna recently bought a flat for Rs. 30 crore at Rs 1.2 lakh per square feet, would further appreciate, though marginally, in the second half of the year due to demand-supply mismatch.“Demand for prime property has been on a constant rise as South Mumbai has been the traditional business capital and economic hub of the city. South Mumbai is expected to witness growth and increase in values as the potential increase in supply is restricted,” Cushman & Wakefeld’s Joint Managing Director Sanjay Dutt said.MismatchPrice is usually a function of demand and supply mismatch and that is what has been pushing up the values in South Mumbai.“Mumbai is definitely one of the most expensive cities in South /South-East Asia with 3-4 bedroom prime property transacting anywhere between Rs. 10 crore and 20 crore,” he said.Root causeThe growth in Mumbai is linked to the growth of job opportunities, especially in high paying services sectors, which has resulted in attracting talent leading to rise in demand.Simultaneously, the supply was severely constrained due to delay and slow development cycle. Mill land took 10 years to reach the present stage of development. - PTI…More

The Hindu : Water quizIn our quest to underline the importance of saving water for human sustenance and emphasise the advantages of rainwater harvesting and treatment procedures, PropertyPlus has been bringing out a weekly column ‘Waterwise.’The aim is to create awareness on the reward and compensation that one draws out of prudent water uses.Our ‘Water Quiz’ will be yet another attempt to inform and educate you on the facts and data related to water. We do hope our efforts help in increasing your general knowledge which would also help you realise the overriding significance the subject draws in the present social scenario, where increased population and buildings throw additional demands on saving the ‘elixir of life.’Several right answers in our questions that require detailed explanations would be elucidated by our columnist, S. Vishwanath, for giving you a better perspective of the subject and make you understand the core issues involved. Happy quizzing!QUESTIONS:1. ‘Vav’ is the Gujarati name for…a) A river b) A bread and potato dish c) A step well d) Joy2. On the rivers of ancient India sacred spots are identified based on the river flow e.g. Paschim Vahini or Uttara Vahini based on the direction of the river flow. On the river Cauvery temples are built when the river swings…a) North b) South c) East d) West3) Suranagas are water carrying tunnels dug into hillocks to draw water. These are usually found in…a) Andhra Pradesh b) Kerala c) Tamil Nadu d) Gujarat4) The ‘kupa manduka’ – an allegory for a person with no world view- is the legendary frog (manduka) in the…a) River b) stream c) pond d) Well5) Most of the water bodies in South India are man made signifying a hydraulic civilization with a great understanding of water. In Karnataka these would be called by various names such as ..a) Kere b) Katte c) Kunte d) All of the before6) The kalyani or a…More

The Hindu : ForumN.C.S. RAGHAVANARVIND RAGHAVANSettlement of houseQuestion: I have a house in Gangenahalli Extn in my name and have settled the payment through a Central Government home loan. Now I want to transfer the property to my wife and three children. In this connection I had read the article ‘Transfer of property’ in The Hindu PropertyPlus dated April 7, 2007, by Gopinatha Rao. It contained details on ‘Will’ and ‘settlement deed.’ The settlement deed, the author said, works out fine as it is financially viable.Please advise me on how to go about the entire procedure as I have no idea how to flag off the formalities required, to make the settlement a peaceful one.C. Narayana318, 6th A Main,HRBR Layout,II BlockBangalore.Our legal experts respond: It is presumed that you want the ownership of the house passed on to your wife and children only on or after your death. In such an event, the only legal document that can be prepared is a “will.” The following legal implications of a will have to be understood:The will comes into effect only after your death.You can revoke the will any number of times and there is no finality about it even when you make the first will now.Subject to the aforesaid restrictions, you can make out a will and get it registered. There is no stamp duty payable on such a will. However, a nominal registration fee of Rs.200 is to be paid.The will has be registered in Book–III maintained by the registration authorities. Such a document is not available to the public and will be treated as a private document only.A will duly made and registered can be absolutely safe from your point of view and by registration of the same, it can be made safe and secure for your wife and children. However, if you want to make any changes, you are legally entitled to do so by amending…More

The Hindu : Stability at last?The demand-and-supply mismatch in India leaves us with a shortage of over 23 million residential units, says CREDAI-Karnataka. A look by RANJANI GOVINDA huge colourful map with nearly 200 housing projects spread across the length and breadth of Bangalore welcomed visitors at the CREDAI’s two-day real estate exposition (formerly KOAPA) last week in the city at Hotel Grand Ashok, Kalinga Hall. Sponsored by LIC Housing Finance and co-sponsored by ICICI Bank Home Loans, the two-day event featured 36 property developers from Bangalore who had projects not only in the city but also in Mysore, Chennai, Hyderabad, Pune, Goa and Kochi.AdvantageSaid Balakrishna Hegde, president, CREDAI-Karnataka, “The advantage lies in the fact that our body of real estate developers (bound by the Code of Ethics) bring to such expos not only projects in Karnataka but also from other cities where there is a boom. CREDAI-Karnataka also held an expo in Dubai earlier and its second international one is in Singapore this month.”The growth in the real estate sector in India is evident from the Foreign Direct Investment (FDI) estimates for the next three years which is around $ 25 billion. The growing interest is due to increased earning capacity and change in perception of living standards, even as the real estate has emerged as a sunshine sector.“The enhanced keenness of international private equity fund towards India is because of the unattractive options in the U.S. in the wake of sub-prime crisis and this is one of the factors directly creating a healthy environment for real estate in India,” adds Mr. Hegde.Increased ratesRegarding residential demand, Mr. Hegde said, “The supply-and-demand mismatch in India leaves us with a shortage of over 23 million residential units, as of now. The growth story is therefore here to stay. Bangalore is still affordable with apartments available between Rs.2,500-Rs.3,000 per sq. ft. within 15 km from central Bangalore, whereas Mumbai is…More

The Hindu : Buying a plot, however big or small it might be, needs to be done with careful consideration. A small piece of land can become a big nightmare for a buyer, if the basic details are not scrutinised properly. Whether it is for investment option or to build a house, a buyer cannot afford to ignore the basic points before purchase. The list given below will be ‘a handy note’ for those planning to purchase to a plot.The process is1. Check the title of the land.2. Get the approvals from the statutory bodies.3. Complete the documentation of purchase of the land.4. Handle post-registration issues.Let us examine each one separately…Check the title of the landFind out whether the seller is individual/partnership/HUF/etc. Thoroughly check and satisfy yourself with the marketability of the property title in terms of whether the owner is the original owner and whether the title deed is original. Obtain legal opinion through an advocate of repute, who can examine the deeds to establish the ownership of the property by the seller.Similarly, if you are buying a resale plot, ask for the purchase agreement, which is the agreement between the current seller and the previous owner and get it scrutinised by an advocate. He/she will identify whether the seller is truly entitled to sell the property, whether any mortgage exists on the property and if it has been paid off and whether there is any lien on the property. Retain a copy of this document and also check the original.Get approval from the statutory bodiesThe nature of land, whether residential/commercial/ industrial/agricultural, has to be ascertained. All land in India is considered as revenue land or agricultural land. A ‘conversion order’ is the base for any land to become any one of the above categories. This order has to be issued by government authorities. This has to be verified.Ask for all the legal documents in original. Check…More

The Hindu : New safety measures in New YorkNew York City Mayor Michael Bloomberg has proposed measures to improve construction safety, including bigger fines and the power to stop work by faulty companies. “We will suspend or revoke their ability to do business in New York City,” the city’s acting building department chief, Robert LiMandri, said at a news conference attended by Bloomberg and other city officials.Bloomberg unveiled the proposals for tougher regulation of construction companies after a accident last week in which a crane smashed into a high-rise apartment building, killing two building workers. There was another crane collapse in March, and 15 people died in building accidents in just the first five months of this year. That is more deaths than in any single year in the past four to five years, Bloomberg said. “This year’s unacceptably high number of construction fatalities underscores that we must do more.”Noting the buildings department is conducting a review to identify the best practices in the industry, headded “these new laws will give them valuable tools to keep New York safe.”- Reuters…More

The Hindu : When there is a boom in the jobs sector with the economy growing at eight per cent, there is no way the demand for housing can be sluggish, according to CREDAI (Confederation of Real Estate Developers’ Association of India). It is only that genuine buyers were waiting for a drop in prices which never happened. The reality is, instead of going down, Bangalore market has actually stabilised.Since January 2007, the cost of construction materials, labour and other essentials has gone up very steeply. There has been a 56 per cent increase in steel prices, 24 per cent increase in cement prices, and a 35 per cent increase in labour cost with an overall interest rise of 20 per cent per annum.The price as of April 2008 stood at: Steel — Rs. 42,000 per mt; cement — Rs. 248 per bag; labour — Rs.472 per sq. ft.; and interest – 13.25 per annum.RG…More

The Hindu : Ensuring a perfect balanceIt is a twin core, where you can read two as one and one as two. This particular twin-core ikebana arrangement rooted in plant material leads our thoughts to philosophic issues… concepts like dual self, virtual reality and so on.“The shape of these Sri Lankan ceramic vases inspired me to use them as a pair,” says Sogetsu Ikebana teacher Malathi Pandurang.Marked splitWhile the inner curving outlines of the two vases complement each other to create a unitary effect, it can also be read as a marked split. The perfect balance between the two vases enables them to be read as one, though they are two.Two kinds of plant material have been used too — the solid and vivid heliconia and the cloudy and fragile limoneum flowers.Rocklike“It is a very simple composition, actually. After putting the two vases together it looked too solid and rock-like, so I tempered it with a cloud of tiny limoneum flowers. And to complement the container, I used solid-looking heliconia flowers,” Malathi explains.As Malathi Pandurang points out, the possibilities of working with two vases are endless.Various patternsYou can place the vases one behind the other, at an angle, etc., and accordingly opt for different kinds of plant material. For instance, you can create a linear composition, using a tall slender vine or sturdy zigzagging branch and bunch up a mass of vividly coloured chrysanthemums or alstromeria over it.Grown widely in Ooty, these flowers are available with florists….More

The Hindu : Audio solutions for theatre effectHome theatre systems that were a rage have given way to high-end audio solutions, says Abhijit Dev KumarThe science of sound which rules the universe has finally forayed into our living rooms. Entertainment is no longer limited to the visual impact and is incomplete without the sound itself. Over the years, home theatre systems that were a rage have given way to high-end audio solutions and it doesn’t get better than this.When John Abraham was seen zooming on his bike in the movie ‘Dhoom’, the shot seemed surreal for viewers in the multiplex.It seemed as though he had just zipped past from one end of the theatre to the other. Now that’s what you call an audio solution!When home theatre systems hit the market it was a rage among the middle classes. “Get the theatre to your homes” was the message that all electronics biggies wanted to drive home. Most of the systems came with a 5.1 channel output along with a woofer for the bass aspect of sound.Advancing technology has made sure that one’s olfactory senses are treated to mind-blowing audio effectsand a movie watching experience that is really worthwhile. This is what has come to be known as an audio solution.CategoriesHome theatre systems are categorised as per their channel output. The set comes with a DVD player, speakers and an added woofer.The number of speakers ranges from two to seven in a set and some brands have two woofers on the offer. These sets are classified from 2.1 (two speakers and a woofer) to 7.1 (that’s seven speakers and a woofer).On the other hand, audio output for high-endsolutions range from 3,000 watts to over 20,000 watts. Each speaker in the audio solution has its own designated output and has to be placed in its designated spot in the room.For instance, in a 5.1 set, one centre speaker, two rear…More

The Hindu : Frequent power cuts dampen the spirit of a city in the process of rapid commercialisation. The new international airport, and other civic infrastructure projects planned, promise much for Bangalore. It will draw more entrepreneurs looking for a base in the region. It will also open up opportunities for investors looking for newer prospects in sunrise industries here.However, power supply remains a major concern. And it has been so for many years now.The demand-supply gap that has worried entrepreneurs and economists alike has been the bane of the city. The problem lies in the dependence on hydro electricity. The truant monsoons caused havoc in the past and extensive load shedding was an annual feature. Copious rains apart, the funds needed to generate power too are demanding. Due to all this, city planners are forced to look for more innovative ways to cater to the demand.Renewable energy has always been a dependable and clean source that comes at a relatively lower cost. There are various renewable energy sources.“Poultry litter is one such innovative source possible,” suggests Ramakumar Purushottam, Vice President-Renewable Energy, Enzen Global Solutions, an energy and environment consulting firm. “This relatively new concept of renewable energy has already made its debut in India.”“A two MW grid-interfacing power plant that generates power using waste from the poultry industry was commissioned in August last year in Goundampalayam village in Tamil Nadu. This was perhaps the first of its kind in the country. It is estimated that for a generation of two MW of power, the plant will need 325 tonnes of poultry waste,” apprises Ramakumar.It is difficult to estimate just how much a sizeable power project using poultry waste will cost for a city like Bangalore. It is also difficult to estimate the quantity of power that can be generated from such a plant. But surely there are many advantages of tapping sources such as poultry waste for…More