HOME LOANS SHIFTING ATTENTION ON SMALLER CITIES

HOME LOANS SHIFTING ATTENTION ON SMALLER CITIES

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The market of real estate in metro Cities which has always been in great demand is now soaked. The story goes like this that the Country’s largest loan Lender Companies are now focusing on tier II and tier III Cities. According to them, smaller Cities have 18-20% growth in loan in the fiscal year 2012-13. The real estate industry in India is deeply drilled and has witnessed extreme highs and has also seen steadiness due to higher interest rates and high-end prices.
If Analysts believe that the market in tier I Cities is very volatile and smaller towns are holding up well and will be a key to growth. Contrary to this, they also say that home loans will mainly be sustained by metros as compared to smaller Cities. Hence, the Finance Companies are now garnering to mini Cities. Big Builders are now focusing attention to smaller Cities as they are less prone to inconsistency of the economics up and down.
One of the major reasons of the Lenders luring to small Cities because there is income rising in these semi-urban areas and also the standard of living is raised and many corporate are setting up campus in rich belts.

PERMITS FOR CONSTRUCTION OF BUILDINGS ACCOUNT FOR HALF OF CONSTRUCTION COST

PERMITS FOR CONSTRUCTION OF BUILDINGS ACCOUNT FOR HALF OF CONSTRUCTION COST

World Bank Report  

According to a report published by the World Bank, in Greater Mumbai, the various Permissions for construction works of the Buildings account for almost half the cost of construction.  It is further reported that “the cost of construction permit in Greater Mumbai is 46.05 percent of the cost of construction.” The report also highlights that it takes 27 steps and 162 days to obtain a construction permit.  For almost each of these steps, the developer or the land owner has to pay fees for obtaining construction permits.

  Whilethe report has already prompted the State Government to re-engineer andsimplify the process of obtaining the construction permit, the Brihan MumbaiMunicipal Corporation is yet to take steps to bring down the cost of obtainingsuch permits. 

Earlier, the Chief Minister of Maharashtra State declared that his Government had plans to extend the regime of allotting additional floor space index-ratio of built up area to total plot area, which exists in the suburbs of Mumbai to Thane and other areas in the Mumbai Metropolitan Region.  Builders present at the meeting when the announcement was made sought to decrease the premium which is charged on the basis of prevalent ready reckoner rates.

TheAnti Corruption Bureau Chief had earlier referred to rampant corruption whileissuing building permits in Mumbai.

Acting on the Chief Minister’s directives, the Brihan Mumbai Municipal Corporation had issued fresh guidelines to “simplify the construction permit process and reduce the time by eliminating certain procedures”.  It also allowed self-certification for declarations pertaining to property tax, pest control and debris removal at the under-construction site; while allowing third party certification for internal road layout, internal sewerage systems, parking layouts and vehicle movement within the plot, storm water drain and water requirements.

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PYRAMIDAL MAJESTY AND MYSTERY

PYRAMIDAL MAJESTY AND MYSTERY

 
 
Over the centuries, the Great Pyramid has been a continual source of admiration wonder and curiosity. It is subject to many mystic claims and theories such as pyramid power and curses. It is a constant challenge and inspiration for generations of architects and builders.After the lapse of many centuries, it is difficult to decipher what was in the mind of the architect when he designed the Great Pyramid. Nobody can give a plausible reason. But certainly a well defined plan or design should have directed and guided the master architect while constructing it. Its aesthetic brilliance, geometric splendour, complex internal features, coupled with the stunning precision of its construction, not only forever adds on to its enigma but also points to the necessity of an elaborate plan behind. Otherwise it is highly unlikely that, building such an elaborate edifice would have been undertaken and accomplished.
Unfortunately no records, plans, blueprints or direct accounts of the Great Pyramids construction have survived. No inscriptions or texts are contained in its chambers or the name of the architect is also not known. We have to make our own conjectures and conclusions, based upon the surviving exterior and interior architecture of it.
But all are unanimous in agreeing that its construction certainly must have been directed by at least one intelligible and knowledgeable individual who possessed considerable desim engineering and construction expertise. The precision of its construction leaves no doubt that it was a brilliant architectural concept, engineered to near perfection.
The Great Pyramid had been a source of Inspiration for architects to design pyramid-shaped structures. The first and popular creation was the Pei Pyramids in the courtyard of the famous Louvre Museum, in Paris. Grand in concept and exquisite in execution, it proves the ability of modern architects in adapting traditional architectural forms.
The new entrance to the Louvre Museum has become as famous as the museum itself. Ther, controversial neo modern glass pyramid designed by the Chinese-born American I M Pei produced scorn from traditionalists who felt it destroyed the dignity of the Renaissance courtyard. But progressive admirers hailed Pei’s 71 foot tall transparent pyramid as a sparkling synergy of ancient structure and modern method  a symbolic link between the old and the new. The pyramid is clad in a warm ochre, lightly tinted glass especially drawn by St. Gobain to be compatible with the honey -coloured stone of the facades of the old Louvre. It was commissioned in 1985 by the late French President Francois Mitterand and at his specific demand it has been constructed exactly of 666 panes of glass.
Not to lag behind in any modern venture, Bangalore has its own panoramic pyramidal structures. They range from the traditional to the ultra-modern. There are pyramid type of class rooms at Torepalya, Magadi Taluk in Bangalore rural district. These pyramid class rooms, said to be the first of its kind in the State, offer an ambience of peaceful environment without the jarring noise pollution.
One of the conspicuous buildings constructed by the Infosys technologies near Electronic City, is a mirrored building in the shape of a pyramid. Nearby in Electronic city, the Church of St. Francies de Sales has a pyramid-shaped church structure. Their quality of novelty,factors of convenience and preference by public had made the emergence of more pyramid-shaped structures in and around Bangalore a regular feature.

VAASTU TIPS FOR HEALTH & WEALTH

VAASTU TIPS FOR HEALTH & WEALTH

 
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Vaasthu is a technical subject and with a proper understanding of the interpretations and logical reasoning, many of the confusions and contradictions can be overcome.
Vaastu in Sanskrit means “Place of dwelling” and originates from the Vedas. “Veda” itself means Knowledge. Vaastu originated from one of the four Vedas known as the “ATHARAVANA VEDA”.
Vaastu also asserts through Vedic Philosophy that “Everything is interconnected.”
Vaasthu Purusha
As in other religions, Vaastu also has its many myths from Hinduism and one such thing is the Vaastu Purusha. The ancient texts say that the Vaastu Purusha – a human body with its head at East and arms stretched depict the various organs like bones, heart, blood vessels etc. The diagonal lines especially from NE to SW are the energy carriers. These points are most vital and need to be considered very carefully prior to putting up any structure.
The concept of Harmony vs. Disharmony in any plot needs to be analysed which is depicted by the “Vaastu Purusha” or “Demon Faced God”. Any mis-alignment or disturbance to vital area gives rise to energy imbalance and could be termed as a Vastu defect. The equivalent of the Vastu Purusha in FENGSHUI is the Dragon. The relevant deities and the elements as depicted below identify the 8 directions.
Vaastu originated with temple architecture and design. Today it is a very scientific and mathematical approach to construct a good building.The Sthapatya Veda deals with Temple Architectutre and the basic classification would be based on the application. Vaastu and Agama are two cultural sciences that have been in vogue in the land of Bharata from very ancient times.
Vaastu is an ancient Hindu Science, over 6000 years old, which creates harmony in a place when the orientation and placements are perfect. The Indian mythological ages Krita, Satya, Dwapar and Kali are in fact accounts of rise and fall of virtuous qualities through various period of history of life. Considering these aspects, the validity of Vastushastra rules can easily be traced to the laws of nature itself. The five basic elements of Vaastu are Space, Air, Fire, Water and Earth and they exist not only inside us but around us too. The elements are also related to specific corners in a site. Vaastu corrections could be said to be based on aligning the elements and are not disturbed.
The following are some of the tips on vaastu
Always open your bedroom windows for at least 20 minutes a day to allows fresh energy to come in. If not, you will be sleeping with stale energy every night. And if that happens, then how can you expect your life to let more good fortune to come to you. The bed should always be one foot above the ground to facilitate free flow of energy on the bedroom floor. Restriction in the flow of energy would also curtail your wealth earning chances.
A clear desk encourages clear thinking. It also helps boost monetary energy and creativity. The desk should be used to house the computer, phone and current paperwork. Anything else has to be considered carefully. Make sure all clocks within your house are in working order. If not, fix them or give them away, Clock, which do not work bring your finances to stand still. Slow clocks signify that you are behind your due date always.
The money safe of the house should be in the southwest corner of the entire building. In your personal room, keep it in the southwest corner of the room’s floor space.
Ensure that the taps in your bathroom or kitchen do not drip. The constant dripping produces negative energy. Dripping taps signify leaking wealth. Blocked plumbing indicates blocked financial energy somewhere in the occupant’s life. Clean up all your drains and ensure proper outflow of wastewater.
Never leave dirty dishes in the sink. Wash them as soon as you can. But not cleaning up as soon as possible shows a sense of incompleteness and disorganization in your finances. Breezy windows will assist the flow of energy in bathrooms and toilets. Otherwise toilets can actually pollute energy. We have to encourage the speedy flow of energy here, wash away the pollution and replace the energy as quickly as possible.
Sweeping the floor should be done towards the inside of the house. Never direct your cleaning actions towards the main door. This will cause a reduction in wealth. Brooms and mops are contraptions, which are involved in the removal of things. Keep them out of sight and preferably upside down. This will prevent the family’s livelihood from being swept away.
Do not have toilets above the main entrance. They generate negative energies, which will interfere with the positive energies entering through the main entrance.
There should be no shoes or slippers lying scattered around the main door of the house. Allow the space at the main door to be free and clear. The energy that rides with the wind will be corrupted with the dirt and smell of shoes and slippers and while entering your house will cause losses.

RIGHTS AND DUTIES OF DEVELOPER AND BUILDER

RIGHTS AND DUTIES OF DEVELOPER AND BUILDER

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It is an accepted truth that every person aspire to have his own Dream Home and it is not an exaggeration even if it is termed as Life Time Achievement to a common man.
Among st other things, first and foremost is that the Builder/Developer of a house/flat should ensure that the Purchaser who approaches him shall have abundant happiness in having acquired the House/Flat, and not only to himself but also to his family and his relatives shall have a peaceful life.
The Builder/Developer need not do any magic, or compromise in his legitimate earnings, but it would suffice if he is honest and shall avoid malpractices such as using low quality material for construction, not following the laid down rules and regulations of Statutory Authorities and should not be greedy and exploit the situation and harass the Purchaser.
The Builder/Developer shall get benefited from the Purchaser who is happy since he shall not only bless the Builder/Developer but will canvass for his business resulting which the business shall prosper and enable the Builder/Developer to reach a new scale of heights besides becoming more wealthy and influential.

REPAIRING CRACKS

REPAIRING CRACKS

 
 
No man – made structure can be expected to be free from defects, and be able to withstand nature for long. This rule is applicable to houses and buildings too. Some unexpected defect somewhere, some miscalculation, or some carelessness is enough to cause major mishaps.
The concrete cracks, and the plaster starts peeling off. These are some of the common problems in all buildings.
· If the concrete cracks, the defective portion should be removed without damaging the rest. The structure undergoing repairs must be supported using proper supports.
· The defective concrete should be removed or chipped off completely.
· If the steel bars have rusted badly a structural engineer should be consulted, and the structure should be strengthened using new steel rods.
· The entire surface to be repaired must be cleaned, and all defective material should be removed.
· If concrete or mortar is used, the amount of water added must be properly controlled. A lower water to cement ratio means that the concrete or plaster will be less porous and more durable.
. If several layers have to be repaired as in the case of plaster, each layer must be well cured with water or curing compounds.
Cosmetic Problems
If a house is 18 to 20 years old, you will start having problems with its looks. Very often the cement plaster will start peeling off. Most people just get the house whitewashed, without replacing the old plaster.
It is better to try out a branded paint putty on the walls instead of unbranded ones. The white, cement-based putty will offer additional strength to the plaster, and it will also make the walls, smoother and water resistant. This wall cure putty plays the dual role of acting as a paint putty and replacing POP.

NATIONAL GREEN TRIBUNAL

NATIONAL GREEN TRIBUNAL

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National Green Tribunal Act, 2010 (NGT) is an Act of the Parliament of India which enables creation of a special tribunal to handle the expeditious disposal of the cases pertaining to environmental issues. It was enacted under India’s constitutional provision of Article 21, which assures the citizens of India the right to a healthy environment.
The National Green Tribunal was established under Section 3 of the National Green Tribunal Act, 2010 (No. 19 of 2010 and came into force on 18th of October 2010) for the effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto.
The Tribunal’s dedicated jurisdiction in environmental matters shall provide speedy environmental justice and help reduce the burden of litigation in the higher courts. The Tribunal shall not be bound by the procedure laid down under the Code of Civil Procedure, 1908, but shall be guided by principles of natural justice. The Tribunal is mandated to make and endeavour for disposal of applications or appeals finally within 6 months of filing of the same. Initially, the NGT is proposed to be set up at five places of sittings and will follow circuit procedure for making itself more accessible; New Delhi is the Principal Place of Sitting of the Tribunal and Bhopal, Pune, Kolkata and Chennai shall be the other 4 place of sitting of the Tribunal.
Jurisdiction:
The Tribunal has Original Jurisdiction on matters of “substantial question relating to environment” (i.e. a community at large is affected, damage to public health at broader level) & “damage to environment due to specific activity” (such as pollution). However there is no specific method is defined in Law for determining “substantial” damage to environment, property or public health. There is restricted access to an individual only if damage to environment is substantial. The powers of tribunal related to an award are equivalent to Civil court and tribunal may transmit any order/award to civil court have local jurisdiction.The Bill specifies that an application for dispute related to environment can be filled within six months only when first time dispute arose (provide tribunal can accept application after 60 days if it is satisfied that appellant was prevented by sufficient cause from filling the application).
Also Tribunal is competent to hear cases for several acts such as Forest (Conservation) Act, Biological Diversity Act, Environment (Protection) Act, Water & Air (Prevention & control of Pollution) Acts etc. and also have appellate jurisdiction related to above acts after establishment of Tribunal within a period of 30 days of award or order received by aggrieved party. The Bill says that decision taken by majority of members shall be binding and every order of Tribunal shall be final. Any person aggrieved by an award, decision, or order of the Tribunal may appeal to the Supreme Court within 90 days of commencement of award but Supreme Court can entertain appeal even after 90 days if appellant satisfied SC by giving sufficient reasons.
To check pollution, NGT for variable office hours
The Tribunal also pulled up the Delhi government for failing to set up check posts at nine entry and exit points of the capital, as per its directions.
The National Green Tribunal (NGT) has suggested variable office hours for the government and private sector in Delhi to reduce vehicular pollution during peak hours and asked the government to deliberate with stakeholders on the suggestion.
It also asked the Noida Authority, Ghaziabad Development Authority and state governments of Delhi, Haryana and UP to file status reports on its directions. The stay on the Tribunal order banning plying of over10-year-old diesel vehicles would continue till the next date of hearing.
The NGT bench asked the Centre to adopt innovative measures to tackle air pollution, while directing it to file a status report on the compliance of previous directives. While asking the Centre to deliberate on the idea of “variable working hours” with all stakeholders, the Tribunal said, “Variable working hours could be a solution. Courts and government offices in Delhi open at 10 am and, if we have a gap of one or two hours, this will help in reducing vehicular emissions immensely… Even business establishments’ working hours could be regulated.”
Additional Solicitor General Pinky Anand said that existing laws were sufficient but the need was for “effective implementation” and “long-term measures”. She added that steps were being taken to reduce air pollution in compliance with the Tribunal’s order.
The Tribunal also asked the Centre to submit a report about the implementation of its previous directions and the pollution percentage, in terms of dust, vehicles and burning of materials. It also asked the Centre to specify its view regarding the life of a vehicle, in terms of pollution emanating from its emissions.

UTILISATION OF WATER RESOURCES

UTILISATION OF WATER RESOURCES

 
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Fresh water resources on the surface of the earth is limited. Only 23% of the water is fresh water both on surface and underground. Remaining water is salt water in the sea/ocean. Only 10% of water is stored in the reservoirs which is used for irrigation and water supply. In northern India (U.P, Uttarakhand) during the rainy season, many rivers flow above danger mark. Inter-linking of rivers will enable utilization of this surplus water avoiding the risk due to floods.

A large quantity of water flows to the sea/ocean through rivers unutilized. When there is shortage of fresh water, it is not desirable to waste the water unutilized. Inter-linking of rivers would have immense benefits and is to be implemented to use maximum quantity of water for the benefit of people. .

Increase in population requires additional water which is possible only by inter-linking to use part of the water that flows to the sea/ocean without reducing requirement of coastal areas and affecting the environment of coastal areas.

Interlinking is a major focus area of the present NDA Government. The Supreme Court felt during the year 2012 that the benefits of inter-linking projects would be immense. It will put an end to the drought conditions in the Country and make the country more than self sufficient in food and energy. The Supreme Court directed the Government of India to set up a committee to pursue the idea of inter-linking of the Country’s rivers.

First proposal for inter-linking of rivers was by eminent engineer and central minister Sri. K.L. Rao in the year 1972. Another expert; Capt. Dastur also recommended construction of Himalayan Canal for the northern and eastern rivers.

Inter- linking of rivers will help to raise the irrigation potential to 160 million hectares for all types of crops by the year 2050 compared to a maximum of about 140 million hectares through conventional sources.

About Yettinahole Project in Karnataka, the coastal areas are objecting to the project to utilize part of water from Nethravathi River and its tributaries to provide drinking water to ; Hassan, Chickmagaluru, Chitradurga, Tumkur, Madhugiri, Pavagada and Koratagere taluks, and will also fill up water in Hesarghatta Reservoir. It will also provide water to Devanahalli area around International Airport.

Irrigation Expert Sri. G.S. Paramasivaiya submitted a proposal to Karnataka Government on 23.3.2001 to divert flood water from Sakleshpur to 40 drought affected taluks of seven districts Chikmagaluru, Hassan, Mandya, Tumkur, Bangalore Rural, Bangalore Urban, and Kolar. Water is badly required to these areas, for drinking water and ground water recharge. Experts say that it is only flood water that will be diverted from upper portion of Western Ghats.

About the fear that trees will be affected in the Western Ghats Region if the diversion project is implemented , the Forest Department will have to plant more than the existing number of trees in the forest areas. Conserving water is possible by lining canals to reduce less water seepage. The Ministry of Environment and Forests has given clearance to take up the Yettinahole Project.

Objections by the environmentalists should be rejected and the people and agencies in the coastal areas and states in the northern districts convinced about the benefits of inter-linking rivers.

HOUSING PROJECTS INCOMPLETE, BANKERS ARE WORRIED OVER NEW LAUNCHES

HOUSING PROJECTS INCOMPLETE, BANKERS ARE WORRIED OVER NEW LAUNCHES

The practice of Housing Project Developers using loans meant for one project to kick-start other projects came into sharp focus at a meeting of Bankers convened by the Finance Ministry in Mumbai. This tendency of Builders to launch other projects when the earlier ones were not complete has caught the eye of Bankers.

On the issue of there being no thaw in property prices despite slowdown in sales, Bankers say, those who invested in housing projects or Bank-rolled them at the pre-launch and launch stages were preventing Builders from bringing down prices.

The meeting, which was presided over by D.K. Mittal, Secretary (Department of Financial Services), Ministry of Finance, comes in the backdrop of reports about the existence of large number of unsold flats with Developers/Builders in Cities like, Mumbai. The issue of unsold flats with Developers/Builders was flagged at a review meeting of Public Sector Banks last month in New Delhi.
Sufficient demand:

In meeting at Delhi, Finance Minister P. Chidambaram observed that when there is sufficient demand for dwellings in the cities, the presence of unsold flats amounted to blocking of capital.

Chidambaram says, unsold flats should be a matter of concern for Bankers, who have funded the Builders and Developers, on the one hand, and property Buyers, on the other. The refusal of Builders/Developers to reduce prices was cited as the main reason for flats remaining unsold.

If they bring down prices by 15-20 per cent, it should be possible to find ready buyers. The sale of such flats could provide a much–needed demand to push the economy.

At the Finance Minister’s behest, the Indian Banks’ Association has formed a Committee under the leadership of Ajai Kumar, Chairman and Managing Director, Corporation Bank, to look into the issue of unsold flats with Builders holistically. The Committee will also examine ways to put pressure on Builders to bring down prices and popularise housing loan schemes through incentives.

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REAL ESTATE BUSINESS AN AVOCATION TO MAKE QUICK MONEY  

Real estate business has become a vulnerable and an easy avocation to make quick and huge money by land grabbers, brokers and criminals by hook or crook. The dangerous, brutal and cruel face of ‘real estate’ business is exhibited in this case,” is how the Madras High Court Bench here began a judgement on Monday.
Ordering a CBI enquiry into the murder of Madurai-based businessman K. Jamal Mohamed in June, Justice N. Kirubakaran went on to state: “The case on hand only speaks about what is happening in the real estate business for more than a decade. In this case, the victim, main accused and some other accused are in real estate business.
“It also proves another important fact about entry of criminals into politics. The main accused, Sithik alias Mohammed Sithik, who kidnapped and murdered K. Jamal Mohamed (whose body was found in Kodaikanal on June 8) along with others, is a district president of Tamizhaga Makkal Jananayaka Katchi and his political office was used to detain the victim.
“Similarly, another accused, Abbas alias Karadi Abbas, is the south zone secretary of Social Democratic Party of India (SDPI). Accused Marimuthu is in-charge of Anaiyur locality in Madurai for Naam Tamilar Katchi (led by film actor-director Seeman). The antecedents of the above accused would show that they are involved in commission of offences.
“If such criminals enter into the political parties and become local leaders, the police cannot go near them easily for interrogation as they create law and order problem using their political clout.”The Judge said the deceased was the managing trustee of K.M. Allauddin Rowther Dharma Trust which owned extensive properties in and around Madurai.
Dispute over land
The victim had a dispute with one G. Ganesan with respect to ownership of 1.64 acres of land, worth over Rs.30 crore, at Arapalayam here.
Even as the issue was being contested before various courts, Mr. Mohamed went missing on August 31 and his body was found near Perumal Malai in Kodaikanal after the surrender of one of the accused in a Melur court near here on June 6.