Tuesday, November 23, 2010

Friendly neighbourhood gladiators



Friendly neighbourhood gladiatorsPlace: Rajouri Garden - In this posh locality in West Delhi, two neighbouring families hardly miss even half a chance to hurl the choicest and the filthiest of abuses at each other. Apart from common place disputes over car parking slots, they are also at loggerheads as one of them is building another floor on his house. On the surface of it, this should and cannot be the reason for any fight. But the other neighbour claims that while constructing the additional floor, his neighbour is damaging his house.

Take another example. A weekly religious discourse with sound system blaring on full volume is an occasion for another big face-off between residents in a cooperative group housing society in Patparganj and organizers of the soiree.

What then is the remedy if two neighbours fight on one pretext or the other? Sunder Khatri, a Supreme Court advocate, says that the law does not provide any remedy to the aggrieved parties in such disputes. Even if you are aggrieved and take the matter to a court for some kind of remedy, the court may not give you any relief. It only suggests that both parties settle the dispute amicably.

Experts say that unlike the Registrar of Cooperative Societies of Delhi, the Registrar in Mumbai intervenes in the disputes of neighbours of cooperative societies. Zafar Iqbal, a Mumbaikar and expert on land matters, says that neighbours do not fight over petty matters in Mumbai. And even if they have some differences, they do not stoop to the level of their counterparts in Delhi. They apparently take care of their neighbours while keeping a dignified distance from them.

Is it possible that the manner in which you build, demolish, expand, develop or deal with your property would affect the interest of your neighbours? Sunder Khatri is of the view that a sane approach in these matters can save you from bigger trouble. “As the feeling of a neighbourhood is no longer very strong in places like Delhi, it’s better that one settles all their small or serious disputes with neighbours sensibly, without losing temper.

Otherwise, one is sure to invite trouble, big or small.” And if we talk about Delhi, where flaunting money power has become the order of the day, there are many who infringe upon their neighbours’ rights with impunity. And, they rely on ‘influence’ and money power. Most of the times, these things do not work and the properties are locked up in the legal tangles.

There are matters that can be talked over and settled. People assume many things about a neighbour without going into the factual aspects. Complaints are given, notices sent, one rushes to various authorities. It is invariably found that a simple talk or discussion between the two sides would have resulted in an amicable settlement, and saved both parties all the bother of legal wrangles. It is very difficult to have any guidelines to guide people in their attitude towards neighbours.

Neighbours in Delhi and NCR fight pitched battles not only over car parking lots and constructions, but also over a host of other issues. Another source of attrition is when one neighbour violates plans, sanctions, and regulations or permitted use of properties of an apartment block or society.

Another legal eagle says that when an owner develops or otherwise deals with his property, they must think from their neighbours’ point of view also. One must not overlook small things. And, one must never ignore warning signs, legal notices, and communication from the authorities.

‘Public nuisance’ is another common gripe between neighbours. Very often, you will find items in newspapers where neighbours fight after one party refuses to keep music down to a reasonable decibel level.

Another reason is when one puts his property to illegal or immoral use - here, not only will the owner hear from the neighbours, it is certain that he will invite criminal proceedings from law enforcement agencies as well. And converting residential property into commercial use like having small-scale units that pollute the neighbourhood is once again going to invite the wrath of the law.

Compound walls and fences are another source of dispute between neighbours and encroachments can only aggravate matters. These disputes can and should be resolved by having survey, verification of records and title deeds, and most of them can be resolved by having proper talk and legal advice. It is possible that the neighbour has laid large pipes that drain water from a common source. These and other such issues are very difficult to solve except by approaching civic authorities or courts.

It has been seen that problems also arise from trees - from their crossing over into the neighbours’ property! And, also remember that your pet can irritate your neighbours. Ferocious dogs and other ‘cute’ animals can create havoc in your neighbours’ lives. So, you should be very sensitive.

It goes without saying that one should live in a civilized manner so that your neighbours respect you. Talking about his neighbours, a Chinese-origin friend once said there is a saying in his country that they - neighbours - cannot live in a harmonious manner. He made this comment while talking about the strained India-China relations.

It is up to you to prove wrong the Chinese saying or follows the cornerstone of Islam, which instructs its followers to always look after the interests of the neighbours.

Monday, November 22, 2010

Real Estate Outlook for 2011


The final 2010 edition of Global Market Perspective provides our view on the likely shape of commercial real estate markets across the globe in 2011. Over the next 12 months we expect to see a much greater divergence in real estate activity and performance and our top 10 trends for 2011 are:

1. Global direct commercial real estate investment volumes will rise by 25-35% on 2010 levels. A significant weight of equity capital will target real estate and fresh capital-raising will further enliven the market

2. Banks and servicers will adopt a more aggressive approach to the disposal of non-performing assets, leading to the release of more secondary product

3. The CMBS market in the US will continue to gather pace, but will remain well below pre-Crisis levels

4. Leasing volumes will be at their highest level since the Global Financial Crisis, with corporate occupiers displaying greater confidence to do deals - but they will continue to push for the best possible terms

5. Asia Pacific will lead the upswing in leasing markets, ahead of Europe and North America

6. Prime property will continue to outperform secondary. Expect double-digit capital value growth for trophy assets in many of the world’s high-order business hubs

7. Shortages of prime product in Tier I cities will encourage investors to widen their search to Tier II

8. Latin America will continue to build momentum, attracting strong corporate occupier and investor interest

9. A lack of available Grade A stock in many markets will start to limit relocation options for corporate occupiers

10. The domestic corporate sector will come to the fore in Asia Pacific, particularly in India and China

Sustainability And Indian Real Estate


Taking action on India’s environmental crisis is no longer an option – it is a necessity. Sustainable real estate presents India with an unique and enormous opportunity to make concrete progress in the country’s effort to improve its environment. There is greater consciousness towards the environmental crisis in India with terms such as sustainable development, corporate social responsibility and triple bottom reporting becoming more common in the real estate industry. Nevertheless, despite the ever rising construction activity, awareness of sustainability in India has significantly lagged behind countries in the West.

Even so, the Indian commercial sector has begun to make conscious efforts towards creating sustainable real estate. With support from the Indian government, a number of construction projects that are currently underway are registered with the Leadership in Energy and Environmental Design (LEED). LEED is soon emerging as the preferred rating system as it is flexible enough to be applied to a diverse variety of markets and also because it enjoys the greatest recognition of the various international rating systems. This recognition is especially important when one considers that a prime motivator for developers to create a certified sustainable building is to differentiate their project from competition.

The government has introduced several schemes to encourage sustainability such as the Indian Renewable Energy Development Agency (IREDA) schemes for subsidising capital for installation of solar water heaters, encouragement of energy audits and management schemes, mandatory use of fly ash-based construction material, groundwater and rain water harvesting and most importantly increased monitoring of air and water pollution.

Sustainable development can be achieved through synergy between developers and occupiers to establish goals, undertake audits and ascertain where savings and improvements can be made. We need to focus on high-impact, low-cost solutions that can be implemented within a realistic timeframe. The importance of educating occupiers on the impact their use of space will have on sustainability outcomes is integral to the success of a sustainability programme.

To properly educate developers, their patterns of behaviour must be changed to accommodate and reinforce any sustainability features that have been implemented in a building. The main objective of any education and communications program should be to encourage developers and occupiers to follow practices such as energy and water conservation, waste management and improve indoor air quality.

Gagan Singh, CEO – Projects and Development Services, Jones Lang LaSalle India

Indiabulls rejects Bharat Mill ‘stop-sale’ request


INDIABULLS Real Estate has declined to give any commitment to the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) that it will not promote or sell apartments at the proposed residential project on the Bharat Mill property. Indiabulls’ purchase of the mill has been contested by its rival, Lodha Group, two people familiar with the matter said.  The attorneys representing Indiabulls turned down a “request” from the authority to refrain from selling till it disposes of the case, the two people said. Both the companies declined to comment for the story. Lodha Group is contesting that rules for the bid for the mill property which was owned by National Textiles Corporation were not completely disclosed because of which it had lost the bid. The bidders were not told that they could sell proposed buildings even before paying up for the property.  NTC sold the eight-acre Bharat Mill property at Worli, Mumbai, to Indiabulls in August for 1,505 crore since it was the highest bidder. Lodha was the second highest with a bid that was 2 crore less than Indiabulls’. Lodha is seeking a re-bid for the project with a level-playing field and has offered to pay 1,602 crore for the property. Indiabulls, which had last week paid the first installment of 989.5 crore for the purchase of both the Poddar and Bharat Mill properties, had received bookings for over 40 apartments at the proposed residential tower on the Bharat Mill property. The apartments were offered for 18,000 to 23,000 per sq ft, a company official had said earlier. 

Statue Circle to be revamped, more green.


A major hangout for Jaipurites — Statue Circle — is all set for a revamp as possibilities to make it more green, spacious and beautiful are being explored.  The Statue Circle development plan received a major boost as an understanding was reportedly reached to acquire land from the adjoining properties.  The Jaipur Development Authority (JDA) has proposed acquiring a strip of 25-metre around the existing periphery of the circle.  A meeting of the property management and urban development officials were held on Thursday, under chairmanship of urban development minister Shanti Dhariwal, in which the acquisition exercise was approved.  The income-tax office, Birla Auditorium and a few private properties are located around Statue Circle. The affected land owners are expected to be provided compensation in non-monetary terms. The JDA is considering offering additional floor area ratio and other relaxation in compensation for the acquired area.  The private owners have assured unconditional support to the plans. Officials from the income-tax department and Birla Auditorium have no objection, however, a formal approval from senior officials is awaited.  JDA will soon formally start land acquisition and the development of the circle. “The original layout of the circle will not be changed, only the landscaping and plantation will be altered inside the existing circle. The additional land acquired will be used to widen the roads and other development work,” said a senior JDA official.  A prominent landmark, Statue Circle attracts considerable crowds during evening. Its proximity to major commercial institutions and government offices also adds to the number of vehicles passing through the area each day. The Statue Circle Road is estimated to witness a peak hour rush of more than 3,000 vehicles. Thus traffic congestion and parking-related issues have become routine.  Several designs have been previously proposed for development of the circle. A parking project was also proposed at the site. However, the tourism department had reportedly objected to any distortion with the heritage appearance of the circle.  According to the new proposal, the existing circle will only undergo a change in plantation cover. While some of the additional land will be used for road widening, the remaining land will be used of development of green space around the circle. Installation of a marble fountain and other facilities have also been proposed to provide additional attractions for tourists.  LAND TO BE ACQUIRED FROM  • Birla Audtorium  • Income Tax office  • Portion of JMC vacant land  • Hotel Haveli  • Land from two other private bungalows  

Sunday, November 21, 2010

New property tax scheme under dispute

Kolkata

With the city poised for a change in the property tax assessment procedure, the civic headquarters at S N Banerjee Road is flooded with queries from citizens over the parameters that have divided Kolkata into seven zones (A to G) based on the level of development that is likely to determine the tax for each locality.

For instance, a host of citizens have questioned KMC’s decision to club Southern Avenue, a posh locality in south Kolkata, with neighbouring localities such as Sadananda Road or Pratapaditya Road under Category C, when the latter are no match for Southern Avenue, if real estate prices are anything to go by.

“How can a posh locality, namely Southern Avenue, be treated on a par with Pratapaditya Road, when residents of the former have better amenities than those residing at the neighbouring areas?” questioned Suman Chatterjee, a resident of Pratapaditya Place. Chatterjee has sent his objection to the KMC authorities. Similar objections have reached the KMC headquarters from residents of Sadananda Road, urging the civic body to either upgrade Southern Avenue to Category B, or place Sadananda Road under Category D.

Similar objections and suggestions are coming from 3,000 property owners across the city after KMC invited suggestions from citizens before it makes amends to its draft proposal. Some, however, have urged KMC to come clear on the parameters that were used to categorise the seven tax zones that civic authorities in other metros made public before introducing the new system.

According to a member of the seven-member municipal valuation committee, that has devised the parameters, necessary changes would be made in the assessment procedure, taking into account the objections and suggestions from citizens.

The huge response has prompted the civic authorities to arrange for “special hearing” sessions for citizens before the change-over to the new assessment method. “We have arranged for such special hearings at each corporation borough from the last week of November. This is the primary level. Later, we plan to arrange for a hearing session at Town Hall, where citizens can air their suggestions or grievances. The interaction will help us make the necessary amendments before we embrace the unit-area based assessment,” a senior official of KMC’s assessment department said.

KMC has sent all the suggestions in this regard to the three-member review committee set up to examine the suggestions and address anomalies. The committee — of which economist Avirup Sarkar is a member — will scan citizens’ feedback before it recommends changes.

The Trinamool Congress-run KMC board is in no hurry to introduce the UAA method for determination of property tax. Though Trinamool chief Mamata Banerjee wants mayor Sovan Chatterjee to adopt the new area-wise method, Chatterjee is waiting for feedback from experts before announcing the switchover.

MMiC Debabrata Majumder, who’s a member of the review committee, however, felt it was too early to introduce the new method. He said that though the city had been divided into seven zones and prices fixed for each zone, the entire exercise might undergo a change after receiving citizens’ feedback.

Compiled by Mr. Ulaganathan

Thursday, November 18, 2010

Vasta


Vastu in many parts of India has been a way of life. It permeates your use of color, the direction of furniture, the direction in which the house should face and a host of other issues. However, it is important to remember that Vastu is the way you live your life rather than something remote to be addressed from time to time.

Raakesh Chawla, our expert on Vastu has been advising individuals and corporate houses on how to enhance the quality of their lives with principles of Vastu.

As a large part of the country prepares to switch from one season to another, our expert takes you through the colour change that you have to effect in your house.

By Raakesh Chawla

Can you feel the slight nip in the air early morning and the cool breeze during late evenings. Its welcome winters and goodbye to summers and also time to redress your home according to winter colours.

Colours have a powerful influence on the human mind. Their use is inexpensive and easy. They can make or break the energy. Depending on their use, they make you warm, friendly, calm or irritable. You should choose a colour scheme that appeals to you and which encourages optimism and positivity in life.

When decorating the interiors of your home one should balance colours.

Delicate hues and tones should be balanced to create a soothing haven in your bedroom which is a place of rest and sleep. The colour scheme should produce a calming effect. Don’t forget to place your bed towards the south or east wall and avoid keeping the dressing table in front of it.

Colours should be bolder in the living room which is a place for entertaining guests. One could use bold prints, warm colours and large objects, which would stand out, and yet not go overboard or make the place look gaudy. The idea is to make the room warm and inviting. Palms and money plants or aquarium and water fountain along the north wall would add to the vibrancy of the living room.

A baby’s room should have bright colours, as that is what a baby sees and responds to. A baby cannot differentiate one pale pastel from the other. One could decorate the child’s room in bright pinks, yellows, greens or blues. However too many gizmos in the room is highly avoidable as this will take away the tranquility and make the child feel restless as he grows. For the school going kid, the study should face east. All books should be neatly tucked inside drawers rather than the study table burdened with the load of books above the kid’s head literally.

A small room should be decorated in light soft colours to create an illusion of space. Large rooms can have warm colours. Homes in plains or hot areas should be also be painted and decorated in light colours as this keeps the house cool. Warm colours attract heat; therefore, houses in hills can use lots of red.

It is ideal to paint the ceiling pale blue rendering a feeling of space. Any room getting lots of sunlight should be painted in cool tones of green and blue. A room which is cold and receives little sun, should have warm tones of yellow, orange, red etc.

The colours for principal direction along solar axis depict the rising sun (yellow) and setting sun (blue), where as along the magnetic axis reflects the energies of peace (green) and action (red). The cardinal direction are a derivative there of.


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