News

The Hindu :

A.P. Govt. reduces registration cost to support construction activity

The Andhra Pradesh Government has drastically cut the registration charges of apartments with a plinth area up to 1,200 sq.ft. for two years from January 1, 2009. This has been done with a view to revive the construction activity that is going through a slump.

Those buying flats in Andhra Pradesh will have to pay only 2.5 per cent on the value of the apartment towards registration charges as against 7.5 per cent that is prevalent now. The registration charges will include transfer duty (two per cent) and registration cost (0.5 per cent). In addition, the Cabinet has resolved to exempt builders of housing units with a plinth area up to 1,200 sq.ft. from payment of building approval fee and building permission fee up to June 2009.

In yet another incentive, it decided to allow builders to pay “impact of fee” in case of structures proposed above 15 metres height, in six instalments during the construction period.

The builders, however, would have to beginconstruction within six months of getting the layout approval and complete the construction in two years to get these fee exemptions and instalment-payment benefit.

The Government has said that the incentives would ensure housing to the middle class and, at the same time, avoid layoffs in cement, steel and other related industries.

However, this move has evoked mixed response from the industry. One ofthe complaints has been about the restriction on the plinth area. Many of the ongoing projects have a large chunk of apartments with a plinth area over and above 1,200 sq.ft. and the cut down does not apply to these.Comprehensive policy needed

Many builders want a comprehensive policy on the lines of the one for the IT sector. The Cabinet decision coupled with the slashing down of the interest rates on home loans will sure enhance the buoyancy of the industry and…More

The Hindu : y>It is easy to grow fig trees at home, says Hema Vijay

Sometimes, plants work the same way posters do; they send a message. That is, assuming that you care to read the unwritten lines. The fig tree, in particular, does it in style.

This tree has a great deal of mythology wound around it in many religions, probably because of this simple fact. Its edible fruits pack in Vitamin C, the B-complex vitamins, besides minerals such as calcium, phosphorus, iron, potassium, magnesium, andsome dietary fibre and protein as well.

In fact, fig was one of the first plants to be cultivated by human beings, as far back as 9400–9200 BC, even before the cultivation of wheat or legumes. Well, it doesn’t really take much persuasion to use a winning face as a mascot.

In the open garden, the fig tree can grow to a height of 3-10m. As bonsai, the fig tree raised by Indira Mehta is about a feet tall. It stands austerely erect, with its branches streaking off in straight lines along many directions, making for a great angular profile.

On an ethnic floor like athangudi or terracotta tiles, it emanates a terrific appeal, one that is a curious combination of the rustic and the elegant.

“If you notice pest attacks on the fig, spray pesticides sparingly. When kept inside the apartment, you can just spray a solution of detergent and water”, advises Indira Mehta. Water the plant just enough to keep the soil wet.

And finally, heard what the fig tree seems to be saying? That mythology is sometimes nothing more than common sense dressed up?

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The Hindu : y>In most of the places, the guideline value is lower than the prevailing market value. In a few cases, it may be higher than the market value, writes C.H.Gopinatha Rao

Guideline Value is a public document indicating the minimum value of the land that will be considered for registration. This value will help the registering officer to detect prima facie any undervaluation of property.

In most of the places, the guideline value is lower than the prevailing market value. In a few cases, the guideline value may be higher than the market value.

When the consideration indicated in the document presented for registration is less than the guideline value, the Registrar shall keep the process of registration pending.

If the parties decided to appeal, the Registrar would refer the matter within a month to the Special Deputy Collector (Stamps).

The Special Collector may then determine the market value of such property and duty. If the determined amount indicates any difference, then the difference amount shall be payable within a specified period.

If the parties are still unconvinced or want to contest the Collector’s decision, they can appeal to the Inspector-General of Registration. The market value will then be fixed by the Inspector-General of Registration and the value may even be higher than the value fixed by the Special Deputy Collector (Stamps).

When the Special Deputy Collector is determining the value, he or she is bound to refer to the transactions that have happened prior to date of the registration of the instrument under consideration.

The Kolkata High Court in the case involving Jogat Mohan Kapur and Wealth Tax Officer ((1995)211 ITR 721) held that working backwards for arriving a hypothetical value would be irrational.

The author is past National President, Institution of Valuers.

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The Hindu : y>Real estate prices in Mysore have declined by nearly 20 to 30 per cent in the last few months, and very few registrations are taking place, says R.KRISHNA KUMAR

The Mysore Urban Development Authority (MUDA) is in a fix. For, having faced public criticism for its failure to clear the pending 1.47 lakh applications of site aspirants through allotment, it has come under fire for not doing much to prevent speculators and pure investors from walking away with the chunk of allotment.

Vijayanagar 4th Stage is a classic example of speculators and investors having a field day, with the genuine site aspirants being left high and dry.

Reckoned to be among the most well-developed localities in the city, it has drainage facility, power and water, not to speak of wide roads criss-crossed by service roads that lead to the interiors.

Allotment of sites at Vijayanagar 4th Stage was completed in the 1990s. But the entire landscape seems desolate with hardly any construction activity visible in the vicinity though the area is “completely developed” in the parlance of the realtors. This has been the case since many years though it is only now that a few structures are coming up. It is also a favourite destination among NRIs planning to invest in property.Very few transactions

A majority of the sites have changed hands after the original sale and the asking rate till a few months ago was in the region of Rs.1,000 to Rs.1,250 per sq.ft. Now with the downturn in the market, there is hardly any transaction taking place with the site owners not in a hurry to dispose off the property until the price soars again.

Not surprisingly, the issue came up before the MUDA in its general meeting and it was announced with much fanfare that the site owners would be issued notice and warned that the allotment would be cancelled and the sites withdrawn…More

The Hindu :

Every additional gadget increases load on the distribution board

With every gadget you add, not only the consumption increases but also the load on the distribution board. The circuit breakers adopted in these boards have to be proportionate to the load.

For example, if an apartment or the house uses special equipment and in addition takes on general loads like tubelights, ceiling fans, and decorative/picture lights, battery chargers, then the current flowing through the conductor may reach 65 to 70 amperes when about 75 per cent of the equipment are being used. Hence, it is recommended in such cases to use 80 amphere Miniature Circuit Breaker (MCB) as a main incomer instead of normal 63amphere.More popular

Manufacturers are now focusing on MCBs & Residual Current-protection Devices (RCDs) beyond 63A. They are enhancing MCB and RCD ranges up to 125A.

Manufacturers have started offering MCBs rated from 80A to 125A in C and D characteristics (MCB types as based on the type of the load connected). Also, RCDs are available up to 125A with A/AC type (A/AC are types of RCD chosen as per fault current in circuit).

Looking at the increasing area of houses and subsequently the loads, 80A MCBs / RCDs are getting more popular in the residential segment since all MCBs are governed by Indian Standards IS 8828:1996 and RCDs by Indian Standard IS 12640 part 1&2.Mandatory

As per Ministry of Commerce & Industry, Department of Industrial Policy & Promotion, it is mandatory for MCBs to have BIS (Bureau of Indian Standards) done as per IS 8828:1998 & RCCB/RCBO to have BIS done as per IS 12640 part 1 & 2.

The author is the Product Manager Distribution Boards, Electrical Installation Technology, Siemens Ltd.

DHAVAL HARVE

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The Hindu : K. SUKUMARAN

The RBI has issued fresh directives to district, State and central cooperative banks with respect to granting housing loans. A look by K. SUKUMARAN

Big question: Banks have to be careful about status of land while sanctioning housing loans

Two steps forward and then three steps backward! This is another pitiable story of the home loan segment. The RBI has been forced to tighten the rules to be followed by lending institutions, especially cooperative banks and financial institutions operating in the rural backdrop, in the wake of a recent Delhi High Court judgment. Let us look into the repercussions of this move in the aftermath of other serious threats.

Banks have their own rules and guidelines for sanction of loans for each and every purpose. Cooperative banks too have adopted general guidelines for lending. They are, sometimes, more liberal than the commercial banks. There are a good number of institutions in the cooperative sector whose approach to business development and customer service are excellent. Many cooperative banks are fully computerised and they match other banks in expeditious disposal of customer requests, including consideration of home loans, though in quite a large number of cases they go by the standing and reputation of the customer.RBI’s recent diktat

The RBI has issued fresh directives to district, State and central cooperative banks in respect of granting housing loans, the salient features of which are:

To check whether the housing loans they have sanctioned or will be sanctioning, are for an authorised or unauthorised structure.

Sanctioned plan by the competent authority be obtained in the name of the applicant who approaches the bank for loan and who owns a plot/site or land.

An affidavit-cum-undertaking be obtained from the person who is seeking the loan to the effect that he or she shall not violate the sanctioned plan and the construction shall be strictly as per the plan.

It shall be…More

The Hindu :

A partnership firm is a creation of a contract between persons called “partners” and each partner can represent the other partners and the firm as their agent. There is “mutual agency” between partners in the sense that each partner is both a principal and an agent at the same time.

A partner has rights and interests in the partnership property in his own right, subject only to the sharing of the same with the other partners.

Mutual legal relationships between partners are governed by the provisions of the Indian Partnership Act, 1932, while the legal relationship between the trustees and the beneficiaries are governed by the provisions of the Indian Trusts Act, 1882.The process

Who can be an author of the trust, how does he create a private trust? A person who creates a trust is the author of the trust and he declares a sum of money or a specific property including an immovable property owned by him, as trust property.

Such a person should not only be the owner of the sum of money or property so declared as trust property, he must also be a person who is legally competent to contract and to effect a transfer of property. This would mean a minor or a lunatic or a person of unsound mind or a person who is disqualified under law from contracting, cannot be an author of a trust. The author executes an instrument of trust formally creating a private trust by declaring a specified sum of money or property as trust property.Stamp duty

Where the immovable property owned by an individual is made into a trust property by him acting as an author of the trust, the stamp duty payable on the same will be only a nominal sum of Rs.500 if he becomes the sole trustee. This has to be carefully noted. If there is another person appointed as…More

The Hindu : y>Blinds can also be combined with sheer curtains to create the desired contemporary effect. Take a look at the patterning at Nicora Interiors,says RANJANI GOVIND

– PHOTO: MURALI KUMAR K.FASHIONABLE WINDOW COVER: From bamboo to banana fibre, these window blinds have everything green in their makeover, says Chotti Barua of Nicora Blinds operating in Bangalore, Delhi and London.

Transformation of curtains into modern contemporary formssaw plain, un-pleated blinds take shape over the last decade or so. And it was then that Chotti Barua conceptualised the boutique ‘Blind Love’ that dealt with custom-crafted solutions to a novel kind of window covering.

“I flagged off my endeavour around 12 years ago at my garage in Indiranagar and soon saw people taking to the fad,” says Chotti. “People would enthusiastically bring in their fabric and get thrilled to see them transformed with a fresh look. Curtains have always been there, but it’s trendier approaches hitting the market that make people latch on to a vogue.”

Design couple Chotti and Pranab Barua have taken a huge step in furthering their passion with ‘Nicora Interiors’ on Lavelle Road, which has expanded on the same theme with greener concepts weaved in the enterprise. Not just that, the store also offers a range of co-ordinates and accessories to make the décor exercise a complete one.

“The uniqueness about our venture is that we do not depend on exclusive fabrics that cut into one’s pockets. What makes us steer away from the humdrum is the time we impart to our customer needs, and our consultancy services that make it a personalised deal,” says Chotti.Detailing and styling

Nicora deals with and specialises in natural fabrics. “It’s not the natural fabrics alone…detailing and styling is where we dedicate ourselves in for being a class apart. If there are banana fabrics in the market, where we differ is our offer of bleached banana fibre or the banana-and-hibiscus-blend…More

The Hindu : y>The Indian Institute of Architects’ recent national convention, with eminent architects from the international arena, looked at ways in which architects and architecture can make a difference to society. A report by NANDHINI SUNDAR

PHOTOS: K. BHAGYA PRAKASHALL ABOUT THE BUILD: Gurunath Dalvi, President, Indian Institute of Architects, Nandan Nilekani, Co-Chairman, Infosys and Architect K. Jaisim of Jaisim Fountainhead, during the inaugural function of NATCON 2008, organised by The Indian Institute of Architects in Bangalore recently. -

In a city that has seen a meteoric rise in the concrete structures that mushroom all over its domain, some exotic, some more of an eyesore, robbing its landscape of its famed green cover, the Indian Institute of Architects held a national convention recently to look at ways in which architecture can make a difference.

The convention focused on aspects such as sustainability, urban high-rise, agriculture, incorporating culture and traditions into design, and cybertecture, besides cautioning against “false prophets from the west.”

The speakers, who were eminent architects from the international arena, provided plenty of food for thought, listing ways and means by which architecture can make a difference in an era where global warming has become a critical factor. Nandan Nilekani, Co-founder, Infosys Technologies, was the chief guest.Development and environment

Talking about the role of architecture in the era of globalisation, Nilekani used the broad thesis of his recently published book as the basis of approach to have the right paradigm and create sustainable buildings. Stating that in the history of development, there is a linear connection between energy consumption and growth, he said, “going forward, development should be linked with environment.”

Calling for the effective use of technology to create sustainable buildings, he felt submission electronically of every building plan would be an excellent idea. “There could be simulation software to decide the best orientation for a building.” He further called for an integrated approach to design…More

The Hindu :

Designing calls for skills, especially with the kind of teasing variety available in each and every segment of interiors today

Your floor tiling, wall paint and textures and furniture mainly lead you to what kind of decoration your window and door openings would need. Depending on this, your floor would be adorned with carpets, durries, or modern floor mats available in myriad natural materials today.

“Interior designing is not exactly one-to-one matching, but we scrupulously read the character that each element throws across. I would love to combine antiques and Kashmiri carpets and bring in some ornamentation in the scalloped curtains. But for a neo-modern makeover, perhaps a French window could take in silk-and-bamboo-window blinds with a mat that would just be enough to cover the centre-settee,” says visiting interior designer from Mumbai, Shoba Diwakar, involved with soft furnishing for films and television serials.

A few years ago, a leading architect, Mies Van Der Rohe, overwhelmed by the astounding variety of fabrics brought together from across the world in one of Holland’s biggest home-textile trade fairs, said: “It proves, God is in the details.” True to every syllable, the architect’s thought is echoed in the weft and warp of the variety that has inundated the market today. The words ‘home furnishing’ conjure up myriad images of décor, besieged by a nerve-racking variety of fabrics and finishes available for dressing up your homes.

Let alone curtains, floor tiles or carpets, it is accessories, like jewellery, that call the shots now. “Windows don’t just open up to the outside world, the aesthetics is a world by itself,” says Shoba.

From metal strings hooked to windows to pelmets that are passé, today we see sheer curtains, Roman blinds, scallops, tie-backs, hold-backs, tassels, channels or rods that make a statement, finials that artfully finish the running of the rods, or even simple and aesthetic end caps.Media influence

“These are…More