property & wealth jan issue
DESCRIPTION
Financial Resolutions to keep you ahead in 2012TRANSCRIPT
FINANCIAL RESOLUTIONSTO KEEP YOU
AHEAD IN2012
10
08
11BRICKS
1213
14
Accord Corporate Square Aero HomesAnsal API Golf Links - IIATS Golf MeadowsBestech SquareDLF Hyde Park Estate
Keep your finances on track and stay out of debt in an year of economic uncertainties.
DLF Valley PanchkulaIREO Five RiverIREO Rise & HamletMultitech Tower 2Ojas Grand, ZirakpurRKM City
Savitry GreensSushma Chandigarh GrandeSushma Green VistaUnitech Uniworld CityWave EstateWWICS Imperial Heights
CHANDIGARH CAPITAL REGION
1516
17
Ansal Heights 2Emaar MGF Palm GardensIndia Bulls EnigmaJaypee Greens KassiaJaypee Greens, Garden Isles TowersM3M Merlin
Paras TiereaRamaprastha CitySCC HeightsSpaze PrivvyUniversal AuraVipul Gardens
Alpha International City Ansal API Green EscapeDLF GalleriaDLF Park Place JalandharIreo Water FrontUni Homes Ambala
DELHI NCR
PUNJAB / HARYANA
REAL ESTATE PROJECTS
18Amravati HillsPine Wood ResortsDLF SamataraDLF SamavanaHill FarmsPine Wood Cottages
HIMACHAL
Publisher & Editor-in-ChiefJasmeet [email protected]
Editor Pankaj Sharma [email protected]
Feature Writers Priya Ghai, K.Singh, Rupinder, PD, Sheetal Singh
Art Director Rajesh Kumar
Graphics TeamBhupinder, Gagan, Sanju
Advertisement & SalesSandeep Kapoor, (M) 9818510511, [email protected]
Sales & SubscriptionMr. Ajay Gupta(M) 9216841278
Photography Rohit Bhatia
Pre Press Team: NBC, GopalProduction Team: Upinder, Vikas, Vijay
Advisory BoardHarpreet Pooja & Associates, Architects Rajiv Gupta & Associates, Chartered Accountant Vikas Chatrath, Advocate
Published, Owned and Printed by Sh. Jasmeet Singh at Plot No. 437-A, Industrial & Business Park, Phase - II, ChandigarhPrinted at M/s Savitaar Press, Plot No. 820-21, Industrial Area Phase - II, Chandigarh
CONTRIBUTORS AND
ASSOCIATES
contentsJanuary 2012 COVER STORY
10 Financial Resolutions to Keep You Ahead in 2012
Design & Print Production
25CEMENT
The World’s Greatest Real Estate Investor 26
The Empire State Building 28
Know your HOME LOANS 30
7 Things to Consider While Taking a Home Loan 32
The Prosperity Seekers 34
2011 The Year of Indian Realty Revolution 36
The Laws of Money 38
Soft Corner 40
19SAND
REAL ESTATE & INFRASTRUCTURE NEWS
PROFESSIONAL KNOWLEDGE & MOTIVATION
“Money makes the mare go” they say and making
(and sticking to!) sound financial plans can go a
long way in solving life’s problems. The 10 Financial
Resolutions we’ve listed in the Cover Story this
month are common tidbits of advice you’ve probably
come across very often. You see, we didn’t spend
time trying to make up fancy resolutions for you
to keep. Since what really works everytime when it
comes to finance is more often than not - sticking to
the basics!
There was a time when Prannoy Roy’s “The World
This Week” used to be a major draw on T.V. but
thanks to the internet, it seems like we’re now forever
plugged into “The World This Milli-Second”. And
when it comes to putting together some interesting
stuff on international landmarks and distinguished
realtors for our readers, P&W isn’t doing too badly,
thank you. In this issue, find out how the Empire
State Building in New York, also hailed as the 8th
wonder of the world not too long ago, was in fact the
result of American envy. And have you heard about
the Company which now owns King of Pop, Michael
Jackson’s Neverland?
about this issue
FINANCIAL RESOLUTIONSTO KEEP YOU
AHEAD IN2012
10
Pankaj SharmaEditor
20
21
22
23
regional
Delhi Tops India Livability Index
Property Prices May Revise Soon
RTI Uncovers Benami Properties in HP
Pay More for Power in Tricity
Projects Worth Rs 450cr for Sonepat
Himalayan Ski Village
national
Realty Stocks in 2012
Mahindra Holidays buys Property in Goa
50 Hilton Hotels in India in 5 Years
Infrastructure Debt Fund
Dipping Office Space Demand
DDA Could Go
international
Russian Tycoon’s $1 billion Investment in US Realty
New World Trade Center
World’s Richest Cat
Singapore Levies Extra Stamp Duty
Australian Residential Property Market
Canadian Builders to Plan for Retirement Years
eye-catchers
Burj Khalifa the Real Star of ‘Ghost Protocol’
‘Twilight’ Home for Sale
editorial
Property & Wealth wishes all its readers a very Happy &
Prosperous New Year. A leap year, 2012 has 366 days in store for
us. 366 days of sunshine, rain or snow. Days of joy and sorrow,
celebration and mourning, victory and defeat. Like any other year
we’ve known. Make the most of 2012.
An ancient calendar of the Mayan people of Central America, the
Book of Changes or I Ching in Chinese, the Holy Bible and the
most revered seer in the world – Nostradamus. Stirring, ominous
predictions made by these entities regarding a date which stares
back at us from the last month of the New Year calendar. Friday
the 21st of Dec, 2012 might eventually end up like the Y2K scare
did a few years ago, but be prepared to bear the onslaught of
increasing hype on the same as the date draws closer.
The Prosperity Seekers. The latest additon to Cement Section
brings forth an interesting approach to the whole idea of prosperity.
It is based on the Law of Attraction, an intriguing concept which
states simply that “you attract into your life whatever you are
thinking about”. True seekers of prosperity cannot ignore the
importance of a resourceful mind and a healthy body in their
quest for a healthy bank balance! Expect to find a mix of all three
desires in this cocktail feature of P&W.
366 Days
Jasmeet Dhamija Editor-in-Chief
A PG in Mass Communication, Jasmeet is heading
one of the most reputed publishing units in
Chandigarh for the past 12 years. He’ s worked for
a leading national daily in the past followed by a
successful stint with a leading national publication
as Chief Editor. The journalism bug never left him
and his keen interest in property business resulted
in the formation of this magazine.
goes interactive www.facebook.com/propertyandwealth
The age-old tradition of making New Year resolutions is
something the Romans started way back in 153 B.C.
when they placed Janus, a mythical king of early Rome,
at the head of the calendar. They named the first month
of the year after Janus, the god of beginnings and the
guardian of doors and entrances who was always depicted
with two faces, one on the front of his head and one on
the back. Thus he could look backward and forward at
the same time. At midnight on December 31, the Romans
imagined Janus looking back at the old year and forward
to the new.
Well, the Romans are no longer around now and for most
of us who’ve just stepped into 2012, there’s a lot more
to worry about. At the recently held fourth annual CFA
Institute European Investment Conference in Paris, former
chief economist at the International Monetary Fund, Simon
Johnson said, “We are now looking straight into the face
of a great depression.” Mainstream economists predict a
profoundly negative economic, political and social outlook
for 2012 and according to some, we’re headed towards
a steeper decline than what was experienced during the
Great Recession of 2008 – 2009.
Adding to the
gloom is the great
deal of attention
that a certain date
in the calendar has
sought. 21 Dec
2012 . Also known
as Doomsday. All
the hullabullo
about the Mayan
calendar ending in
2012, predictions
from religious
books and made by people from different ages. Scary
concepts such as reversal of magnetic poles, an obscure
planet colliding with the earth and entering of intense rays
through black hole around the same time, also abound.
To make matters worse, an internet technology called the
Webbots Project has moved apocalyptic prophecy into
the internet age, predicting that the world will end on 21
December 2012. “What a New Year!”, one would say.
“And how does one plan for a year which is prophesied to
end with the end of the world?”
Cover Story
Be always at war with your vices, at peace with your neighbors, and let each new year find you a better man.
Benjamin Franklin
10 Financial Resolutions to Keep You Ahead in 2012
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 508
The usual new year resolutions of shedding weight or
giving up smoking will always be made. How about
making some financial resolutions this year? No matter
what the experts would call it, 2012 is another year we’re
going to add to our CV while on earth. So, putting aside
all predictions and theories about the end of the world,
let’s see how we could be a little more financially secure,
while we’re around!
RESOLUTION 1 Clear Financial Objective
Get started by defining a clear and concise financial goal
for the year. A realistic goal would take into account your
current income, savings and measurable growth prospects.
If Nostradamus could make all those predictions about
how the world is going to be, you could at least be able
to ascertain the amount you would have left in your bank
accounts by the end of the year!
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 09
You will be surprised by the amount some hollow pigs made of mud can save for you over a period of just one year
RESOLUTION 2 Debt Prioritization
Somebody said that “Debt is the slavery of the free”. In
these times, however, it is difficult to imagine zero debt.
Make a list of all your liabilities, organising them by annual
interest rate. Try and pay off those loans with the highest
rates. It would even be wiser to to sell off assets like saving
bonds etc. yielding lower rates of interest, if required. Not
being able to use the credit card judiciously is the perfect
recipe for disaster.
RESOLUTION 3: Retirement Plan
If you’ve been putting off today what you can’t afford to
do tomorrow, its time to correct that. In spite of a growing
acceptance that we must plan and save for our retirement
and the worldwide pension crisis, a majority of the people
miss out on proper planning for a happy retired life. Time
flies quickly and those who fail to plan, have actually
planned to fail. Retirement planning is best done while
young.
RESOLUTION 4 The Magic of Small Savings
Traditional savings methods like post office accounts
and recurring deposits in the bank in your locality are
unbeatable tools to keep you in the savings habit. The
value created through such means might be low, but is
always certain.
RESOLUTION 5 Restrict Number of Accounts
Opening multiple accounts in various banks and financial
institutions only leads to chaos. Moreover, they charge
fees for everything under the sun. Go through all the
plastic cards invading your wallet, see if you can minimise
them. In most cases, some accounts are even forgotten
soon after opening.
RESOLUTION 6 Earn From What You Love Doing
This would be the most important resolution you could
make this year. Identifying what you’re passionate about
doing and turning that into a career option is about the
best way to earn money. The trick lies in turning your
passions and hobbies into profit. There’s no dearth of
amazing jobs such and the world will always need full-
time ice cream tasters and video game testers!
RESOLUTION 7 Piggy-Bank
Remember the innocuous but cute piggy bank your
parents bought for you? Bring home one to drop all the
coins you bring home at the end of the day. You will be
surprised by the amount some hollow pigs made of mud
can save for you over a period of just one year. That money
can go into your electricity and telephone bills. Stay clear
of credit cards for those expenses.
RESOLUTION 8 Pass it On
Some of the most wealthy people in the world have
propounded the power of generosity. If you can do
something worthwhile for the less fortunate for say 5% of
your income, you’re doing yourself a good turn. Not only
are we able to change other people’s lives for the better,
a better sense of financial freedom too prevails in us this
way.
RESOLUTION 9 Use Your Home PC
A lot of personal finance software is currently available for
use. They’re simple to use and very effective to monitor
income and expenditure. Housewives can start keeping
track of daily expenses on the omnipresent MS Excel
instead of notebooks and know the difference. Even
children can be taught to maintain a record of sundry
expenses. Frugality is a discipline and it pays to learn
early.
RESOLUTION 10 A Good Book Every Month
There are books for learning how to cook, how to fix your
computer and how to play football. The printed word
allows us to communicate directly with the most brilliant
financial minds the world has seen. They say ideas live
on and if you can pick just one brilliant financial idea per
month from all you read, its certainly worth it.
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 510
Cover Story
BRICKS = REAL ESTATE PROJECTSThe first requirement of building a wall is to get bricks and the first requirement of dealing in property is to know about the Real Estate
projects undertaken by various developers across the country.
Location: Township Derra Bassi, 12 kms from Chandigarh.Highlights: 300 acre integrated township Club with swimming pool, squash court,indoor sports, basket ball. Spacious Apartments with abundant parkingOptions: 3BHK, 4BHK, Penhouse.Villas, Plots
ATS Golf Meadows
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 66, MohaliHighlights: Mixed Use Residential, Office, mall & 5 star Hotel SiteOptions: 2BHK, 3BHK Residential Apartments,Office Space, Mall Space
Bestech Square
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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.
CHANDIGARH CAPITAL REGION
Location: Sector 116, Greater Mohali Kharar - Landran Road.Highlights: IT & Institutional set ups nearby. Golf Course &Ansal Plaza coming up in vicinity.Options: Independent Floors, Plots, SCO’s
Ansal API Golf Links - II
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 512
Location: Gazipur, near proposed Golf Course, ZirakpurHighlights: Keyless biometric entry, every flat is corner & facingpark, hi-tech securityOptions: 3BHK only
Aero Homes
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sohana-Landran Road, Sector 90, MohaliHighlights: IT/ITES office spaces, roof top garden, 100% power backup, 24X7 hi tech secutiry. Invest 23 lakhs & get 23000- per month.
Accord Corporate Square
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: DLF New Chandigarh, Mullanpur, PunjabHighlights: Punjab’s First Eco Town, Foothill of Shiwaliks, Club House, 11 acres of greens100, 120 feet wide approach roads.Options: 350 and 500 sq yards plots
DLF Hyde Park Estate
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Sector 112 Mohali Banur Highway, adjoining Chandigarh group of collegesHighlights: 50% green area. Shopping mall, site for 5 star hotelOptions: Booths, SCOs, residential plots 200, 250, 400 & 500 sq yards
RKM City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Pinjore Kalka Urban Complex, Sector 3Highlights: Panoramic View of the hills, site is situated on a plateau. only about 9 kms from Housing Board Colony Panchkula.Options: Independent Floorscurrently available only on resale
DLF Valley Panchkula
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Pinjore Kalka Urban Complex, next to DLF Valley & Amravati EnclaveHighlights: Surrounded by river & dam site on one end, mountains on the other end. 200 acre township with huge club houseOptions: Plots & Villas, 250,370,500,1000 sq yds.
IREO Five River
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 90, MohaliHighlights: World Class Building designed by Hafeez ContractorIn close proximity to Phase VIII B, an upcoming IT destination with several MNCsOptions: 3BHK and 4BHK
Multitech Tower 2
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 98 and 99 MohaliHighlights: Ireo Hamlet is 32 acre gated township with club of its own.Options: Plots 250, 350 sq yards, Villas and low rise, mid rise 1BHK, 2BHK, 3BHK apartments.
IREO Rise & Hamlet
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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.
CHANDIGARH CAPITAL REGION
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 13
Location: VIP Road, ZirakpurHighlights: Sky banglows with drawing cum Dining Room,Family Lounge, Home Theatre room, Mandir, Store and Servant QuarterOptions: 88 flats of 4000 sq ft each and 8 penthouses of 7000 sq ft each
Ojas Grand, Zirakpur
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: VIP Road, ZirakpurHighlights: AmphitheatreCommon Library, Club, Gym, Jogging Track. Ultra Modern UPVC Windows to keep your house insulated.Options: 2, 3, 4BHK Apartments
Savitry Greens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 3 BHK & 4 BHK Duplex apartments near upcoming Golf CourseOptions: 3BHK & 4 BHK Duplex aprartments.
Sushma Crescent
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 85, MohaliHighlights: Spread over 300 acres, Wave Estate has already completed all basic infrastructure needs. Greens & landscapes are well planned.Options: Plots, Villas, charming floors and plush condominiums
Wave Estate
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Chandigarh-Ambala HighwayHighlights: Designed by R204DESIGN, leading US architecture firm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming poolOptions: 3BHK flats 1885 sq ft.
Sushma Chandigarh Grande
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 97, 106, 107 MohaliHighlights: 300 acres integrated townshopOptions: Plots 360 to 500 sy yards Gardens Apartments 2BHK, 3BHK, Independent Floors
Unitech Uniworld City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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.
CHANDIGARH CAPITAL REGION
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 514
Location: Sector 115, Greater Mohali Highlights: Experience ‘Urban Living at its Best’ with planned infrastructure and world class amenities- all catering to the contemporary lifestyle. Options: Studio Apartments, 2bhk, 3bhk, 3bhk Penhouse
WWICS Imperial Heights
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Sector 86, just 700 mtrs from Delhi Gurgaon ExpresswayHighlights: Possession to be offered in 3 yrs from bookingSecured gated community Adjoining the DLF project IFFCO Chowk - 15 minutes driveOptions: 2BHK, 3BHK, 1350 - 1890 Sqft
Ansal Heights 2
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location:NH-8, Sector 83, GurgaonHighlights: Modern gated 22 acres development , 8 Acres Central Landscaped Greens and Park, Near to ISBTOptions: 1,720 Sq.Ft. to 3,750 Sq.Ft. , 3BHK, 5 BHK Ground Floor, Duplex and Penthouse
Emaar MGF Palm Gardens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 110, GurgaonHighlights: Full feature clubhouse, Themed Landscapes, high-Response Security systems, World-Class fitness and Sports facilities, Green Architecture, Options: 3400, 3900 sq feet, 4BHK, 5BHK
India Bulls Enigma
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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.
DELHI NCR
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 15
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Jaypee Sports City, Greater NoidaHighlights: Tropical architecture, Yoga, aerobics, spa and massage rooms, India’s 1st Formula One Racing Track Options: 1, 2, 3, 4 BHK personal suites
Jaypee Greens Kassia
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Noida-Greater Noida ExpresswayHighlights: Foodball field, cricket field, cycling track, tennis& basket ball courts, Unique Y shaped apartments.Options: 2, 3, 4 BHK Apartments
Jaypee Greens, Garden Isles Towers
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 67, GurgaonHighlights: Singapore theme Luxury Residence Compact & Well ventilated Units Modern and Youthful productOptions: Area 1800 Sq.Ft. to 5500 Sq.FT.3BHK, 4BHK, Penthouse.
M3M Merlin
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
DELHI NCR
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-JANUARY 2012, VOL 1, ISSUE 516
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: Sector 137 NoidaHighlights: On Noida – G.Noida Expressway, South Delhi is 15 min. away thru DND flyoverSector - 18 Noida, Market is 10 minutes away, Amity University, Lotus Public School are in close vicinity.Options: 2BHK, 3BHK
Paras Tierea
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 93, GurgaonHighlights:80% GreeneryMeditation court, nature park3 side open apartmentAmphitheater & GymnasiumOptions: 2 / 3 & 4 BHK Residential Apartments 1297 to 2532 sq.ft.
Spaze Privvy
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector – 37 D, Ramprastha City, GurgaonHighlights: A township spread over 450 acres, 0 km from Dwarka Expressway & Metro Station, 15 min. drive from IGI Airport. Options: Premium Condominiums 1725, 1750 and 2025 sq feet 3 BHK
Ramaprastha City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sector 82, GurgaonHighlights: Strategically located, In close proximity to proposed metro stationOptions: 2/3/3+1/4 BHK
Universal Aura
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Raj Nagar Extension, GhaziabadHighlights: Executive Luxury Flats, Private garden space and open terrace, Earthquake resistantOptions: 1/2/3 BHK 615 – 1350 sq.ft
SCC Heights
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: NH-8, DharuheraHighlights:Latest architectural standards & Vastu norms, just a few minutes away from shopping malls, hospitals, schools and other public utilities.Options: 1,2 & 3 BHK
Vipul Gardens
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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.
PUNJAB / HARYANA
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 17
For More Details Post on wall at www.facebook.com/propertyandwealth or mail at : [email protected]
Location: KMP Expressway, SonepatHighlights: Pitch Put Golf Course, High class gymnasium with world class machinesOptions: 2, 3, 4 BHK residential apartments
Ansal API Green Escape
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Nakodar Chowk, JalandharHighlights: Total Built-Up Area is 14864 sq mts approx with 3 floors of retail and 3 floors of offices.Options: Retail outlets, commercial office space, food court, cafe’s.
DLF Galleria
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Turning off the NH 95 near the Ludhiana-Ferozepur Road, a short drive along Sidhwan CanalHighlights: 500 acres with glittering lake at its centre, beautiful layouts, green environsOptions: 3-5 BR villas and apartments from 3000-8000 sq ft
Ireo Water Front
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: GT Road NH 1 Opposite Mac DonaldHighlights: 5 impressive residential towers going up to 12 floors with excellent space management, ergonomic interiors and delightful amenitiesOptions: luxurious 3 BHK,4 BHK duplex, 4 BHK with utility
DLF Park Place Jalandhar
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Sectors 28 & 29 HUDA on National Highway1, KarnalHighlights: Spread across more than 300 acres, Karnal’s first truly world-class developmentOptions: Residential & Commercial
Alpha International City
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Unitech Unihomes Sector 16 AmbalaHighlights: UNIHOMES is well connected to rest of the city and Haryana with Narnaul and Jhajjar highways running closeOptions: 2 BHK & 3 BHK lowrise affordable flats.
Uni Homes Ambala
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
HIMACHAL
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 yearOptions: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.
Amravati Hills
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
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
DLF Samavana
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dagshai HillsHighlights: 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
Pine Wood Resorts
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dharampur Sapatu Road 2 kms from Hotel Victoria IntercontinentalHighlights: 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
Hill Farms
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Simla Hills, Bemloi, Near CPRI complexHighlights: Luxury Cottages Priced between 2.5 to 3.9 crores.Simla’s first residential gated complexOptions: Super area varies from 2700- 3100 sq feet. Luxury Cottages.
DLF Samatara
BudgetPlanner
BudgetPlanner
in lakh
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Solan Simla Old Road, Kumar hattiHighlights: Beautiful fully furnished apartment With un spoilt view of the mountains.An ideal hill farm house.Options: 2BHK and 3 BHK
Pine Wood Cottages
BudgetPlanner
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PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 518
SAND = REAL ESTATE & INFRASTRUCTURE NEWSAfter bricks, the next building material which comes to mind is sand, which we’ve
equated with current news related to Real Estate and Infrastructure.
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 520
Delhi has beaten all other cities to emerge as the best place
to live in India, according to Livability Index 2011 compiled
by the Institute for Competitiveness, an international think-
tank. Livability refers to an urban system that contributes
to the physical, social, mental and personal development
of all its inhabitants. The index takes into consideration
various associated and crucial dimensions of livability
criterion for the fifty cities, and sums up nearly 300
indicators.
A study by HT of the balance sheets of India’s top 10 listed
developers revealed a massive oversupply and a slowdown
in sales. It revealed an estimated Rs 31,000 crore worth
of unsold properties belonging to top realtors including
DLF, HDIL and Omaxe. Real estate prices are expected to
fall sharply in several pockets of Delhi-NCR and Mumbai
close to mid 2012 but those from top developers in prime
locations may not see a correction.
The UT Electricity has proposed a substantial hike
of 50% in electricity bills. The hike in the UT will be
lesser than that in Mohali and Panchkula. The proposed
hike, for the period between April 1, 2012, and March
31, 2013, would be effective only after the approval of
the Joint Electricity Regulatory Commission (JERC), the
body constituted to decide on power tariff in the Union
Territories (UTs).
Haryana CM Bhupinder Singh Hooda has recently
announced a slew of developmental projects worth over
Rs 450 crore for Sonepat. He laid the foundation stones
of Rs 40-crore railway over-bridge at a level crossing
near Sonepat railway station, Rs 69.58-crore project to
increase drinking water supply up to 135 litres per head
in the town, Rs 21.72-crore storm water drainage scheme
to get rid of the water-logging problem in various areas
of Sonepat town and two 33 KV power substations with
estimated cost of Rs 2.60 crore each to meet the power
requirements of HUDA’s Sectors 12,13, 14 and 15.
US billionaire Alfred Ford has pumped in $300 million
to develop a Himalayan ski village near Manali. The
project has got an approval from the State Infrastructure
Development Board and is awaiting a nod from the
cabinet. The proposed resort which will spread over an
area of 100 hectares and feature 100 hotel rooms, 300
villas, 150 condominiums, spa facilities, a convention
center, shops and restaurants. The project is likely to
generate revenue worth Rs. 50-60 crores.
A hotel in Manali and a farmhouse built on a 12-bigha
patch of land on the outskirts of Kullu have been ordered
to vest with Government for violation of Section 118 of HP
Land Reforms & Tenancy Act 1972 by DM BM Nanta. The
properties, estimated to cost around Rs 11 cr are owned by
Ajay Chautala, grandson of former Deputy Prime Minister
late Devi Lal. The land was bought in 1978 and the case
was pending in the DM’s court for the past 14 years. The
DM’s order came in a plea of RTI activists who had sought
information of benami properties .
Delhi Tops India Livability Index
Property Prices May Revise Soon
Pay More for Power in Tricity
Projects Worth Rs 450cr for Sonepat
Himalayan Ski VillageRTI Uncovers Benami Properties in HP
regional news
Mahindra Holidays buys Property in Goa
50 Hilton Hotels in India in 5 Years
national news
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 21
According to experts, realty and metal sectors, which saw
maximum value destruction amongst the BSE sectoral
indices this calendar year are not likely to pick up in
2012. While the BSE Sensex declined by 23.45 per cent
in the calendar year-to-date, sectoral indices of the realty
and metal sectors plummeted by 50.26% and 46.92%,
respectively. Investors had to brace for hard times as
growth slowed and interest rates rose, leading to reduced
transactions and rising vacancy rates.
Mahindra Holidays & Resorts has acquired a 106-rooms
property in Goa as part of its expansion at popular holiday
destinations in India, taking the total to 330 rooms in
entire Goa. The latest acquired property will now operate
as Mahindra Emerald Palms. The company is a leading
player in leisure hospitality and offers vacation ownership
membership. The concept of vacation ownership lets
people own a property for a specified period of time.
Seeking to turn a new chapter in the funding of the clogged
and inadequate infrastructure sector, India Infrastructure
Finance Company Ltd. (IIFCL) will float a $1 billion (Rs
5,000 cr) infrastructure debt fund with the participation of
private players. With a targeted $1 trilion needed by India
to overhaul its infrastructure sector in the next five years,
IIFCL has been given the go ahead by the Finance Ministry
to facilitate new funding sources. The Infrastructure Debt
Fund was proposed by Finance Minister Pranab Mukherjee
in the budget this year.
The commercial property market in India experienced
a slow-down due to the global economic scenario. The
demand for office space across the top six cities in the
country was down 20% in the July-September quarter at 8.5
million sq. ft. compared to 10.5 million sq. ft. in the previous
quarter according to a Nomura report. A further drop of
5-10% in the October-December quarter was predicted by
Cushman & Wakefield. While new space leasing has dried
up in many markets, a number of corporates have been
looking for relocation and consolidation.
The Finance Ministry has initiated work on a proposal to
replace Delhi Development Authority (DDA) with a new
regulator for the capital’s housing sector. The move is
likely to face resistance from the DDA which has prepared
an ambitious 2021 Master Plan for Delhi. The Master Plan
entails planned development of 202 square kilometers to
make the capital a global metropolis.
Hospitality firm Hilton Worldwide is aiming to operate 50
hotels in the next 5 years in India and launch new brands
‘Conrad’ and ‘Waldorf Astoria’ -- in the country from its
global portfolio. The firm announced introduction of its
middle segment brand ‘Hampton’ in the Asia Pacific region
with the opening of a hotel at Vadodara in Gujarat under
a franchise agreement with Baywood Hotels India. Hilton
has more than doubled its properties in India this year by
launching six hotels.
Realty Stocks in 2012 Infrastructure Debt Fund
Dipping Office Space Demand
DDA Could Go
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 522
Russian billionaire Mikhail Fridman, the owner of financial
conglomerate Alfa-Group, is set to invest up to $1 billion
in properties on the east coast of the US. He is launching
a real-estate fund together with New York-based property
developer and manager Rosen Partners to focus on
distressed properties from Boston to Miami. Russian
tycoons consider US real estate a relatively safe haven,
especially at this time of political uncertainty in Russia.
A decade after the 9/11 attacks, the new World Trade
Center complex is steadily taking its place in the skyline.
One World Trade Center has reached the 90th floor, with
one floor being added a week, and the Fumihiko Maki-
designed 4 World Trade Center has nearly reached 60
floors. The 9/11 Memorial’s enormous reflecting pools
opened on the 10th anniversary of the attacks, and in
time, the complex will have a transit hub, performing arts
center and a trio of additional towers.
Tommasino, a pet cat from Rome, has been left a
staggering ten million euros after his owner died (just under
$13,100,000). When Maria Assunta, the affluent widow
of an Italian property tycoon, passed away at the age of
94, she chose to leave her estate to her beloved cat. The
4-year old street cat that was rescued from the streets of
Rome, now lives outside Rome at an undisclosed address
with a care-taker, so as to avoid con artists and potential
kidnappers. The feline is Forune Magazine’s richest cat
and the third wealthiest animal in the world.
Singapore has introduced new taxes on residential
property purchases to curb excessive investment by
foreign buyers. Foreigners and corporate entities will
now have to pay an unprecedented extra 10% stamp
duty when buying a residential property in Singapore.
Foreign purchases accounted for 19 per cent of all
private residential property purchases in the second half
of 2011, up from 7 per cent in the first half of 2009.
Foreign investors now dominate the Australian rental
residential property market with close to a third of the
new apartments in key cities (about 13,000 apartments).
Unlike the late 1980s when there was a Japanese
office and hotel development boom, this time 92% of
all apartments being proposed or developed by foreign
firms are said to be owned by Singaporeans.
Canadian house builders are being urged to consider the
aging population when designing new home developments
for the future. Several industry organisations are
concerned that not enough residential property in
Canada is suitable for the growing number of retirees that
will begin to increase throughout the population in the
years ahead. Although there are many companies that
specialise in providing comfortable homes for the over-
50’s that include a range of communal facilities such as
healthcare and entertainment activities along with onsite
eateries not all seniors will want to move into ‘readymade
retirement residences’.
Russian Tycoon’s $1 billion In-vestment in US Realty
New World Trade Center
World’s Richest Cat
Singapore Levies Extra Stamp Duty
Overseas Investors Dominate Australian Residential Property Market
Canadian Builders to Plan for Retirement Years
international news
Burj Khalifa the Real Star of ‘Ghost Protocol’
‘Twilight’ Home for Sale
eye-catchers
Tom Cruise plays the indestructible
superspy Ethan Hunt in Mission
Impossible-Ghost Protocol, the
franchise’s fourth installment. Hold your
breath when you watch him step out from
an open window high up in Dubai’s Burj
Khalifa, currently the tallest manmade
structure in the world at 2,716 feet. The
48 yr old superstar, who was in India
recently for the promotion of the movie,
himself performed the heart-stopping
stunts shown in the movie.
A Westside compound of vampire romance movie
‘Twilight’ stars Robert Pattinson and Kristen Stewart has
hit the property sale market in Los Angeles approximately
for six million dollars. The west-facing luxury property
measuring 2,604-square-feet has the view of Bel-Air and
Stone Canyon Reservoir. The property was constructed in
1990s and is situated on nearly half acre of land. 21-year-
old Stewart and 25-year-old Pattinson, who had starred as
couple in reel-life, are leading life together in real life.
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 23
CEMENT = PROFESSIONAL KNOWLEDGE & MOTIVATIONCEMENT is known for its binding property and in this Section, we’ll be fortifying the information gained in previous Sections with some
Professional Knowledge & Motivation
Thomas J. Barrack, Jr. is the founder, Chairman and
CEO of Colony Capital, the world’s 3rd largest private
equity real estate firm. In 2005, Fortune Magazine dubbed
Tom Barrack as the “World’s Best Real Estate Investor.”
He is a current member of the Forbes 400 List.
The grandson of Lebanese immigrants, Tom Barrack grew
up in the Los Angeles suburbs in the 1950s, where his
father ran a grocery store. Tom went to the University of
Southern California, where he was a star on a national-
championship rugby team, worked on campaigns for
California Republicans, and in 1972 got a law degree.
His first job was at the firm of Herb Kalmbach, President
Nixon’s personal attorney, but he didn’t stay long. One
of the firm’s biggest clients, construction giant Fluor
Corp., needed a volunteer to live in Saudi Arabia for a few
months to negotiate a contract. Saudi Arabia was hardly
a posh posting, but with oil dollars rolling in, it was deal
Tom Barrack The World’s Greatest Real Estate Investor
Monthly Feature
CEMENT
Real Estate Champions
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 526
Colony Capital owns a majority stake in Neverland Ranch, the former residence of Michael Jackson
central. Barrack leaped at the chance. When
his Fluor assignment ended, Barrack stayed on
and went to work reviewing deals for two young
Saudi princes.
Barrack learned Arabic and immersed himself in
the local folkways. Barrack became a powerful
middleman, and over 4½ years did tens of
millions in deals for the princes, who collected
rich commissions. Barrack himself made
just $200,000 though but the education was
priceless. In 1976 Barrack returned to California,
where he was hired to run a company that built
industrial and office parks. He ran the company
until 1982, learning all about real estate. He
followed this experience with an unhappy stint
at Watt in Washington D.C. and a brief run as an
investment banker, before billionaire Bob Bass
recruited him to do real estate deals.
In 1991, Barrack formed Colony Capital. Based
in Los Angeles, Colony Capital has had a
meteoric rise. Its hotel investments include not
only the Raffles and Fairmont groups but also
the Costa Smeralda resort in Sardinia, Hotel Guanahani in
the Caribbean, the Aman resorts hotel chain, The Savoy
Group, the Stanhope Hotel in New York, the Atlantic
City Hilton and the Las Vegas Hilton. Colony Capital
owns a majority stake in Neverland Ranch, the former
residence of Michael Jackson. Barrack sunk $35M into
Michael Jackson’s famed Neverland Ranch—bailing the
King of Pop out of his substantial debts—and a host of
hotel properties around the world. The company has
invested more than $34 billion in non-performing loans,
hotels, resorts, casinos, condominiums, and global
developments.
As of September 2011, Tom is the 833rd richest person
in the world, and the 375th richest in the US, with an
estimated wealth of US$ 1.1. billion. A man of immense
charm, a swashbuckler who moves at a furious gallop yet
exudes an aura of calm. He’s constantly circling the globe
in his Gulfstream IV and lives on a 1,200-acre mountain
ranch near Santa Barbara, California. In the summer, he
lives in a castle in the South of France. He is married, and
he has four children, three of which are from a previous
marriage. Tom might not really qualify as a celebrity, but
he sure rubs shoulders with them, he and Rob Lowe are
partners in the media investment fund that purchased
Miramax Studios.
Barrack has done deals with Saudi princes, Texas oilmen,
a Caribbean dictator--even with renowned American
business magnate Donald Trump. He bought the Fukuoka
Dome, Japan’s Yankee Stadium, in part because he
calculated that the titanium in the retractable roof was
worth as much as the purchase price. He bought and sold
New York City’s Plaza hotel, turning a fast $160 million
profit, as well as London’s tony Savoy chain, netting
another $270 million. It takes a lot to impress Donald
Trump. Viewers of the original US version of the hit TV
show The Apprentice will know just how stingy he can be
with his prais. But there is at least one person who makes
Trump sit up and take notice. “Tom has an amazing vision
of the future, an ability to see what’s going to happen that
no one else can match,” observes Trump.
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 27
God stopped manufacturing land a long time ago but He forgot to hang a board anywhere on total number of occupants allowed. Thus, while the human race has kept multiplying over the years, the total land allocated to them has always been limited and permanent. Some of the smartest people in the world have turned to Real Estate as a profession but not all of them have succeeded. And only those out of them with ‘something extra’ could eventually make it to the top.
Thomas Barrack is the founder, Chairman and CEO of Colony Capital
Monthly Feature
CEMENT
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 528
The Empire State BuildingEver since it was built in 1931, the Empire State Building has
been the world’s most famous office building. Rising 102
stories from the middle of New York City and standing 1,250
feet tall, the Empire State Building is also America’s favorite
architectural icon. Millions of tourists flock to the skyscraper
to get a glimpse from its 86th and 102nd floor observatories.
It stood as the world’s tallest building for 40 years until the
construction of World Trade Center’s North Tower in 1972.
The Eiffel Tower started it all
The construction of this gigantic icon was indeed a race to
the sky. When the Eiffel Tower (984 feet) was built in 1889
in Paris, American architects took up the challenge to build
something taller. By the early 20th century, a skyscraper race
was on. By 1909 the Metropolitan Life Tower rose 700 feet (50
stories), quickly followed by the Woolworth Building in 1913
at 792 feet (57 stories), and soon surpassed by the Bank of
Manhattan Building in 1929 at 927 feet (71 stories).
When John Jakob Raskob (previously a vice president of
General Motors) decided to join in the skyscraper race, Walter
Chrysler (founder of the Chrysler Corporation) was constructing
a monumental building, the height of which he was keeping secret until the building’s completion. In 1929, Raskob and his
partners bought a parcel of property for their new skyscraper at 34th Street and Fifth Avenue, New York. On this property
sat the glamorous Waldorf-Astoria Hotel. Not knowing exactly what height he had to beat, Raskob started construction on
his own building.
The Building Plan
After deciding on and obtaining a site for the skyscraper, Raskob needed a plan. He hired Shreve, Lamb & Harmon to be
the architects for his new building. It is said that Raskob pulled a thick pencil out of a drawer and held it up to William Lamb
and asked, “Bill, how high can you make it so that it won’t fall down?” The team was able to plan for 1,250 feet while the
Chrysler Building was completed at 1,046 feet with 77 stories.
The Empire State Building, New York City
Architectural Marvels
Builder Takes Charge
As part of their bid to get the job, builders Starrett Bros. &
Eken told Raskob that they could get the job done in eighteen
months. With such an extremely tight schedule, Starrett Bros.
& Eken started planning immediately.
Clearing the Site
The first section of the construction timetable was the
demolition of the Waldorf-Astoria Hotel. When the public
heard that the hotel was to be torn down, thousands of people
sent requests for mementos from the building. Though some
of the materials were sold for reuse and others given away for
kindling, the bulk of the debris was hauled to a dock, loaded
onto barges, and then dumped fifteen miles into the Atlantic
Ocean.
The Steel Skeleton Goes Up
The steel skeleton was built next, with work beginning on
March 17, 1930. Two-hundred and ten steel columns made
up the vertical frame. Twelve of these ran the entire height of
the building. Other sections ranged from six to eight stories
in length. The steel girders could not be raised more than 30
stories at a time, so several large cranes were used to pass the
girders up to the higher floors. The builders created various
innovations that saved time, money, and man-power.
Up & Down the Tallest Skyscraper
The Otis Elevator Company installed 58 passenger elevators and eight service elevators in the Empire State Building.
Though these elevators could travel up to 1,200 feet per minute, the building code restricted the speed to only 700 feet per
minute based on older models of elevators. The builders took a chance, installed the faster elevators (running them at the
slower speed) and hoped that the building code would soon change. A month after the Empire State Building was opened,
the building code was changed to 1,200 feet per minute and the elevators in the Empire State Building were sped up.
Inauguration Time!
The entire Empire State Building was constructed in just one year and 45 days – no mean feat! It came in on time and under
budget. Because the Great Depression significantly lowered labor costs, the cost of the building came to $40,948,900
which was much below the $50 million expected price tag. The Empire State Building officially opened on May 1, 1931
to a lot of fanfare. A ribbon was cut, Mayor Jimmy Walker gave a speech, and President Herbert Hoover lit up the tower
with a push of a button.
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 29
As the world shrinks smaller and smaller, our aspirations of matching the physical environment of developed nations has only grown. Thanks to globalization, Indian entrepreneurs and industry professionals have also been exposed to the latest global trends and technological advancements in the field of construction.
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 530
Monthly Feature
CEMENT
Know your HOME LOANS
Home loan FAQ’sWhat is an EMI?
EMI (Equated Monthly Instalment) is the amount payable
to the lending institution every month, till the loan is paid
back in full. It consists of a portion of the interest as well
as the principal.
How is an EMI calculated?
EMI Formula: l x r [(1+r)n /(1+r)n-1 ] x 1/12
l = loan amount
r = rate of interest
n = term of the loan
What are the eligibility conditions for a home loan?
The eligibility may differ from lender to lender. However,
most of them would require you to be:
a) An Indian resident or NRI
b) Above 21 years of age at the
commencement of the loan
c) Below 65 when the loan matures
d) Either salaried or self employed
What are the interest rates offered for home loans?
What are: Daily Reducing, Monthly Reducing and Yearly
Reducing?
Interest rates differ from bank to bank. It depends on RBI
base rate also. The current rates are about 10 to 13%.
The interest on home loans in India is usually calculated
either on monthly reducing or yearly reducing balance. In
some cases, daily reducing basis is also adopted.
Annual reducing
The principal, for which you pay interest, reduces at the
end of the year. Thus you continue to pay interest on a
certain portion of the principal which you have actually
paid back to the lender.
Monthly reducing
The principal, for which you pay interest, reduces every
month as you pay your EMI.
Daily Reducing:
The principal, for which you pay interest, reduces from
the day you pay your EMI. Very few banks in India follow
daily reducing method.
What is the best way to select the cheapest home loan?
Decide how much EMI can you comfortably pay. It will
depend a large on tenure also. Keeping the loan period
same, ask for EMI from each bank for an x amount.
What is a fixed rate of interest?
Some institutions have a fixed rate of interest, which
means the rate of interest remains unchanged for the
entire duration of the loan. This means you do not benefit,
even if rates of interest drop in the market.
What is a floating rate?
This is the rate of interest that fluctuates according to the
market lending rate. This means you stand the risk of
paying more than you budgeted for in case the lending
rate goes up.
Are securities required for home loans?
Generally speaking, the property to be purchased itself
becomes the security and is mortgaged to the lending
institution till the entire loan is repaid. If the property is
not prime located, or your credit profile is not very good
then some banks may ask for additional security such as
life insurance policies, FD receipts and share or savings
certificates.
What is the time required for loan application approval?
Depends how fast you can provide the required documents.
It generally takes about 3 to 15 days.
Monthly Feature
CEMENT
1. What is the Rate of Interest?
If your CREDIT history and CIBIL scoring is good, you
deserve a good rate of interest. Check out at least 3
bankers before deciding what is the prevailing interest
rate at the point of your borrowing home loan.
2. What is the tenure for which you want to take home
loan?
If you can comfortably afford a higher EMI go for 10 or
12 years as you would be paying much lesser interest in
that case.
3. Is your Rate of Interest, Fixed, floating or a mix of fixed
and floating.
Check out what suits you most, a EMI that is fixed for its
entire tenure (Fixed ROI), a Fixed EMI for first 2-3 years
and then floating for the balance tenure, or EMI that is
totally floating that is which depends on RBI fixing the
Base Rate.
4. Check out if you are allowed to make part pre
payments.
You might get a bonus if you are salaried or make some
wind fall profits if you are in business. Check out whether
you’re allowed to use the same to pre pay a part of your
home loan.
5. Check out if there are there any fore closure charges.
There may not be if you are closing from your own
resources, but what if you are switching loan from one
banker to another banker. Check out what are foreclosure
charges in case pre payment is through third party
funding.
6. Get your loan amount insured. You want your family to
inherit your home not the home loan.
In the unlikely instance of any thing unfortunate happening
to you, the property should get transferred to your nominee
and the balance loan amount should be waived. This is
home loan insurance and you must get it done for the
peace of mind and good will of your family. The loan is
also waived of in case of any major health problem or
permanent disability. You need to check the loan terms
carefully. Do not feel shy in checking this out and don’t
go by the verbal commitment of the bank marketing
personnel. He may promise you heavens but you need
to cross check on every commitment. Read the terms of
insurance carefully.
7. Get your Home loan Insured against Job Loss.
An interesting feature that is available nowadays is job
loss insurance where your Insurer pays the EMI till the
period you are not employed. Check out the policy papers
for details before opting in for the same.
realty coach
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 532
7 Things To Consider While Taking A Home Loan
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 33
Investment in Property can be a tricky affair. There are various things which need to be looked into at the time of buying or selling a house. Matters related to taxation laws, procedure of registration or transfer of property. As the name suggests, Realty Coach is going to take up one or more key terms or issues every month to be explained to make matters simpler for you.
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 534
Monthly Feature
CEMENT
There is no better way to kick off your day than to wake
early. The extra hours gained are perfect to start with an
exercise routine and eating your breakfast. Mornings
are also the most productive time of the day. The blood
flow to your brain is high, helping you to work and
concentrate well.
Japanese auto giant Toyota will officially introduce
its premium brand Lexus in India by 2013 through
fully imported route. Toyota created the Lexus brand
in 1989, having concentrated majorly in the US ever
since. It only came to Europe in the first half of the last
decade. In fact, it didn’t launch Lexus in Japan till just
two years ago.
Lexus cars will be officially available for sale in India by 2013
Early to bed and early to rise
the prosperity seekers
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 35
People who’re in the habit of reading, not only make
the best use of their spare time but also keep their
minds away from the worries that might chase them if
they sit brooding, doing nothing. Avid readers tend to
have a better grasp on realities and are known to be
better judges of people.
Cultivate the habit of reading
The Law of Attraction simply states that
you attract into your life whatever you
think about.
...good health, a great mind & lots of money!
The India of
today is going
through a
transition period.
This is a period
where the country is shedding its coat of the past and
moving towards a new beginning alongside a new identity
as a global superpower. While the Indian economy is
surging all steam ahead, the major catalyst to this growth
is the realty sector. This sector which contributes about a
large share to the economy is one of the major harbingers
of the growth of Indian superpower.
While 2011 has seen some monumental policy decisions
by the Government to bring in more transparency, the year
has also seen some major setbacks for the sector. While
at first the realty sector and the country in general was
dogged by the Land Acquisition controversy majorly at
Greater Noida in Uttar Pradesh, CREDAI and its partners
in general have been vocal about the Government clearing
its stand and bringing in more transparency into the
proceedings. While we as an apex body can only toe the
line laid by the Government, we urged the Government to
demarcate clear rulings so that neither the land owners,
the general buyers and nor the developers are short-
charged by impending Governmental policies. While the
year saw interest rates being hiked 13 times since March
2010, this has adversely affected the liquidity in the market
which has stalled investments into the sector. With lower
liquidity, the real estate sector did find it hard to come
up to its expected revenue generation targets which have
adversely hampered the growth of this booming sector.
While the year end credit review by the RBI has stalled
the credit rates, we expect the rates to come down in the
coming year which will help in re-boosting the sector, thus
bringing in more avenues of growth to this sector, which
will thus help in economic augmentation of India.
While over the year, the landmark regulatory bill has more
or less settled the contentious issue, we as a body are
still trying our best to bring in greater transparency and
more ease in this booming sector. One positive to have
come out of this year has been the Reserve Bank of
India’s landmark policy to increase the housing loan limit
under the priority sector wherein loans up to Rs 20 lakh
irrespective of the location, to individuals for purchase
or construction of dwelling unit per family, has been
increased to Rs 25 lakh. This move which will greatly help
the real estate industry and especially the lower income
groups is a major step in the emancipation of the Indian
real estate sector. We are pretty much confident that this
move will give the much desired boost to the industry and
will give a sense of relief to the home buyers in the metros.
Another positive to have come out of this year was the
11th National Convention of CREDAI which brought to
fore the future vision of the real estate sector. Harping on
‘Mission Transparency’, the conclave aimed at invoking
a single window clearance model alongside bringing out
a uniform code of conduct for the real estate developers
which proposes to bring in maximum transparency in this
sector. With an eye on the projections of the future, this
conclave aimed at resolving hurdles that inhibit the real
estate sector – whether these are of policy, financing, or
technology – and move towards penning down a roadmap
for India’s future.
Monthly Feature
CEMENT
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 536
2011The Year of Indian Realty Revolution
flipside
While 2011 has been a year of major ups and downs
for this sector, the general sentiment of the real estate
sector has been one of anticipatory boom and we wish
that the real estate sector can break off the shackles it
has been bound for long and can come out transparent
and become one of the major contributors to the Indian
economy. With the general outlook of the markets
remaining gloomy in view of the expected downturn in
international markets, it is the Real Estate sector which
has taking the revolution forward. From providing urban
and rural India with affordable housing to contributing to
the GDP of the country, real estate sector has been the
revolutionary in armour for the country. A sector which
has contributed an estimated US$ 45 billion alone in the
year 2010, the sector is bound for bigger things to come.
While 2011 with its avant-garde movements have taken
the sector into the echelons of major contributors to the
Indian economy, the fall of 2012 promises to bring with it
a clearer vision, ground-breaking policy decisions and a
clearer frame for the evolution and the following revolution
of the real estate sector.
With 2012 being touted as the year where real estate
sector will find its bearing in the imminent growth of India’s
superpower might, we expect sweeping changes to come
in this sector. Expecting more policy reforms in real estate,
better transparency and Governmental impetus for growth,
the sector is poised for big turns and as showcased by the
precision planning and implementation of projects like the
Greater Noida sports conclave and better public-private
partnership model as showcased by the Government
of Gujarat, the time is ripe for the real estate sector to
be one of the major contributors of the emerging Indian
economic might. A recent report by Jones Lang LaSalle
which suggests that the realty space in India could see
over USD 2 billion worth of outflows next year, the time
is ripe for the effects of the realty revolution of 2011 to
bear fruits. With more than 20 million sq. ft. of retail and
housing space to be added in the coming year up from
the 14 million sq. ft. plus growth in real estate which 2011
accounted for, the realty sector is all set to be harbinger of
‘India Shining’ and contribute to the GDP of the country in
its truest potential sense.
Builders. Entrepreneurs physically building the nation. The houses we live in and the offices where we go to work. They have a significant role to play in mitigating one of India’s basic yet biggest challenges – shelter for its teeming millions. And to play this role well, they need to be heard.
VOL 1, ISSUE 5, PROPERTY & WEALTH-JANUARY 2012 37
Mr. Lalit Jain, President CREDAI
This article is authored by Mr. Lalit Kumar Jain, National President, CREDAI
Monthly Feature
CEMENT
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 538
in your good BOOKS We’re all living in a marketing driven, credit oriented society, and it is important for us to exercise financial prudence to stay out of trouble. There are many good books available on Financial Planning and we’ll be introducing our readers to one such book every month.
Suze Orman is a two-time Emmy Award winner and the
author of six consecutive New York Times bestsellers.
Named in 2007 by BusinessWeek as the top female
motivational speaker in the United States and in 2008
by Time magazine as one of the 100 most influential
people in the world, Suze is also a contributing editor to
O, The Oprah Magazine and The Costco Connection. Her
name has become synonymous with money, and she is
undeniably the most-listened-to personal finance expert
in America today. The Laws of Money, the Lessons of Life
is a groundbreaking book in which she is able to reveal a
revolutionary new paradigm of personal finance.
The 5 Laws of Money are vital principles that you need to
know whether you are old or young, male or female, with
or without money, a novice or a veteran investor. In the
compassionate stories adapted from real-life situations
strewn across the book, Suze shows how us how these
five laws operate without exception -- at all times, in every
culture -- and apply to everyone. The universal truths and
lessons contained within each law help you learn how to
keep what you have and create what you deserve. Anyone
can -- and must -- put these laws to use today in order to
survive and thrive in these times of constant upheaval and
financial turmoil.
The Laws of Money, the Lessons of Life provides an
eminently sensible, highly effective process for gaining
control over your life and your money. Through pointed
questions about your attitudes toward money and insightful
financial exercises and personal guidance, Suze deciphers
the false hopes and fears that keep you from making
smart, confident decisions and choices about money. Her
take-charge optimism and realistic action plans will jolt
you out of any financial confusion or paralysis, whether
you’re beginning your career or at a midpoint, planning
for or already in retirement. You will learn to assess your
current spending, savings, and investments, and acquire
a sure sense of what you can do with the money you have
and the money you want to have. A thorough guidebook
is included that helps you put the laws into immediate
action and see their lessons manifest in your own life.
Profound and practical, The Laws of Money, the Lessons
of Life will help you get out of debt, create what you want,
and protect your money, your family, and your future.
With these laws as your guide, you can avoid ever being a
financial victim again.
The Laws of Money5 Timeless Secrets to Get Out and Stay Out of Financial Trouble Suze Orman
Monthly Feature
CEMENT
The Ekal Vidyalaya Foundation is tax exempt, registered non-profit service organization dedicated to education and village
development in rural India. Ekal’s philosophy is to take a holistic approach to social and economic development.
The Ekal movement is the largest, grassroots, non-government education movement in India, operating in over 36,263
villages and educating over 8,97,178 children in rural India.
The Ekal Vidyalaya movement aims to help eradicate illiteracy from rural and tribal India by 2015. To date, Ekal Vidyalaya
is a movement of over 34343 teachers, 6,000 (Approximately) voluntary workers, 22 field organizations (scattered in
22 Indian states), and 8 support agencies as on January 2011. With this tremendous human force, the Ekal Vidyalaya
movement strives to create a network of literacy centres that will educate and empower children in rural and tribal India.
Ekal Foundation
PROPERTY & WEALTH-JANUARY 2012, VOL 1, ISSUE 540
soft cornerCorporate Social Responsibility (CSR) is represented by the contributions undertaken by companies to society all over the world. Not to be left behind, major corporates in India have included CSR programmes to their to-do lists. Property & Wealth dedicates this page to all such initiatives.
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