Indian Real Estate

NEW DELHI: The urban development ministry is planning to resurrect rent control, first in the Capital and thereafter, if the states are willing, in all the major metros. The government proposes to fix rents within a price band of Rs 4-9 per sq ft per month for residential properties.

A ceiling on rent for commercial spaces is also being mooted in the range of Rs 50-125 per sq ft per month. “The proposal is part of the draft Rent Control Act, which would act as a model for the entire nation,” a government source said. The model act will first be implemented in Delhi, and state governments will subsequently be asked to follow suit.

Even though real estate is a state subject, the urban development ministry regulates property-related issues in the Capital due to its special status. Rent control is seen by economists as a populist measure that leads to under-supply of residential accommodation

Rent control, when compounded by tenancy protection that significantly dilutes the property rights of the landlord, is to blame for the creation of slums, thanks to severe under-investment in low-cost housing that follows, according to urbanisation experts.

Accordingly, the draconian Delhi Rent Control Act of 1958 was sought to be replaced by the Delhi Rent Control Act 1995, which provided for rents to be determined by the prevailing demand and supply levels. However, thanks to powerful lobbies, who occupied prime commercial space paying next-to-nothing as rent, the Act was never notified.

The present move to reintroduce rent control would have to first repeal the 1995 law. The proposal is likely to invite strong resistance from landlords and potential investors in real estate development, underpaying tenants would welcome such a move though.

Various agencies under the urban development ministry are working on rent models, which would be mutually viable, for property owners as well as tenants. A similar bracket will also be worked out for commercial properties, though the agencies have not decided the concrete price points yet.

“Comments have also been sought from Delhi government and the Municipal Corporation of Delhi, which has done a census of the organised spaces in the city. Their suggestions will also be taken into account,” said a senior government official. Even in some relatively low-cost locations of the national capital, rents are as high as Rs 15 per sq ft now.

According to sources, on the commercial front, there had been an upward pressure on rentals due to the recent demolition drive. “To help such shop owners, the ministry plans to set a Rs 50-125 price band for rent,” a source said.

NEW DELHI: Morgan Stanley Real Estate plans to pump in over $1bn into the Indian realty sector over the next five years. The investment bank has already invested around $140m in two real estate companies, and one service apartment project in Pune over the last six months.

“These investments would include equity positions in realty companies and stakes in specific projects,” said Zain Fancy, executive director and head of Morgan Stanley Real Estate for the Asia-Pacific region. The real estate arm of Morgan Stanley manages around $51bn in real estate assets world-wide on behalf its clients.

The fund has picked up equity stake in Bangalore-based Mantri Developers and Delhi-based real estate firm Alpha G for around Rs 300 crore each. In Pune it has pumped in around $7.5m in a service apartment project. “We plan to bring in our global expertise in asset management to India,” he added. Along with Alpha G, the fund is looking at setting up large format retail and township projects in the tier II and III cities, which are FDI compliant.

Alpha G on its own plans to invest over Rs 4,600 crore in new projects over the next three to four years with focus on Ahmedabad, Amritsar, Bangalore, Chennai, Dehradun, Gurgaon, NCR, Karnal, Mumbai, Pune, and some cities in Punjab and Rajasthan. Alpha G is currently looking at developing four-five projects in Punjab. Bullish on Indian realty sector, Mr Fancy said India will continue to enjoy a lower affordability ratio along with China. “China, however is ahead of the curve, with Indian real estate sector lagging behind by couple of years,” he added.

India is yet to catch up in terms of sheer volume of transactions that the Chinese real estate market enjoys. Further China is better placed infrastructure wise compared to India, Mr Fancy said. He said that the fund would work closely with its global retail partners and facilitate their entry into the country. Morgan Stanley has 10-15 retail clients in its portfolio. Over the past year, there has been renewed activity in Indian realty that has been attracting attention of several global real estate funds.

Merrill Lynch forecasts the Indian realty sector to grow from $12bn in ‘05 to $90bn by ’15. Industry estimates say around $5bn of private equity funds are chasing Indian realty projects.

MUMBAI: In the past, nations fought wars for control over land. In times to come, we will witness a different kind of war, individual’s endeavour to accumulate scarce land which will be the largest source of power. The scramble for land in the recent past has seen the emergence of half a dozen men, who hold between them an enormous 1,30,625 acres (537 sq km) enough to build a city bigger than Mumbai.

Mukesh Ambani Landholdings: 60,000 acres Where: 35,000 acres in Maharashtra and 25,000 acres in Haryana under special economic zones

First on the list is Mukesh Ambani. With two special economic zones (SEZs), Mukesh controls 60,000 acres of land in two states. This includes 35,000 acres in Maharashtra under the Maha Mumbai project and 25,000 acres in Haryana. Mumbai SEZ will be developed with an estimated investment of Rs 25,000 crore whereas investment in the Haryana SEZ would be around Rs 40,000 crore. The land owned by Reliance is more than half the size of Mumbai city. Of total land, only 15,000 acres will be used for industrial units. Current SEZ norms allow Ambani to develop whatever he wishes on the remaining 45,000 acres.

Sanjay Chandra Landholdings: 24,460 acres Where: 20,000 acres in Haryana for a special economic zone. Smaller tracts of land in Bangalore, Kolkata, Chennai and Hyderabad
Unitech MD Sanjay Chandra holds about 24,460 acres of land. The largest chunk is under a 20,000 acre SEZ in Haryana. The government has given in-principle approval to the project. Chandra has also bought around 400 acres each in Bangalore and Kolkata. In Greater Noida and Hyderabad, Unitech owns 140 and 180 acres, respectively. It also owns 1,000 acres in Gurgaon and 340 acres in Noida. Unitech is said to have acquired 2,000 acres in Chennai.
Subrata Roy Landholdings: 20,000 acres Where: 10,000 acres in Maharashtra under Aamby Valley project and over 100 acres of land in 100 cities across India

While SEZs have helped Ambani and Chandra own vast tracts of land, Subrata Roy has amassed his 20,000 acre empire without a single SEZ. Back in 2001, Subrata Roy asked his man Friday, Sunder Lal, who heads Sahara Infrastructure and Housing, to start acquiring land in excess of 100 acres in 100 shortlisted cities. By April this year, the company had around 9537 acres of land in various cities, according to Sahara. This land will be used for integrated townships. Sahara also claims to have acquired 10,000 acres in Maharashtra for its ambitious Aamby Valley project.

Anand Mahindra’s Mahindra Gesco owns around 10,000 acres. “We have 9,000 acres between three SEZs and another 1100 acres in Faridabad,” said Arun Nanda, V-C, Mahindra Gesco. These SEZs are located in Maharashtra, Rajasthan and Tamil Nadu. The SEZ in Chennai is operational. The Jaipur SEZ is expected to be developed within the next five years with an investment of around Rs 1,100 crore. In Mumbai, Ajit Gulabchand’s Hindustan Construction Company (HCC) is planning to increase his land holding from the current 10,000 acres. It is planning to acquire 1,000 acres in Thane and Panvel. The 10,000 acres that HCC has is for a township project around Warasgaon Dam, near Pune. Last on the list is DLF’s K P Singh. The company is adding 2893 acres to its holding of 1372 acres.

Many other players are also buying land across the country. Sushil Ansal-controlled Ansal Properties, is one such player. It reportedly holds around 4,000 acres of land. Other leading players Anand Mahindra Landholdings: 10,000 acres Where: 9000 acres spread across Maharashtra, Rajasthan and Tamil Nadu for SEZs, 1100 acres in Faridabad Ajit Gulabchand Landholdings : 10,000 acres Where: 10,000 acres of land under an SEZ in Pune and about 1000 acres in and around Thane and Panvel Kushal Pal Singh Landholdings: 1,372 acres Where: Centred in and around Gurgaon. He is slated to add 2893 acres to his kitty

Q&A Grandhi Mallikarjuna Rao, chairman, GMR Group
Grandhi Mallikarjuna Rao, 56, is chairman of the Bangalore-based GMR Group, a major player in the infrastructure, roads and power utilities sectors. Mr Rao — who is fondly called ‘Malli babu’ by people in his native Rajam town in Srikakulam district of Andhra Pradesh and G.M. Rao in industry circles — is an amazing success story in corporate India, growing from a small-town jute trader to the head of a Rs 2,500 crore business group.
The GMR group, as the leader of different consortia, is building the new international airport in Hyderabad, and is modernising the Indira Gandhi International Airport in New Delhi. The group has four power projects with a gross capacity of 963 Mw, of which two are operational, one is set to achieve COD and one is under development. It is also developing six projects. GMR Infrastructure Ltd is entering the capital market with a public issue, and expects to raise between Rs 800 crore-Rs 953 crore. The media-shy Mr Rao is a mechanical engineer by training from Andhra University.
How did it all begin?My family had a small jute trading business in Rajam, which my father divided between my brothers and myself in 1972-73. After my engineering degree, I had joined the Andhra Pradesh government’s public works department, but I worked there only for five months, before joining the business. I wanted to diversify my business, so I applied for a scooter dealership in Visakhapatnam, which did not happen. So, I renewed my focus on the jute trade, buying and selling the commodity.
Subsequently, with great difficulty, I managed to buy a jute twining factory in Chennai and moved the machinery to Rajam. I also got into the sugar and brewery business, all in Srikakulam district. Things changed for me when I was invited to join the board of Vysya Bank (now the ING Vysya Bank), after the banking regulations pertaining to board composition were changed in the early nineties.
The bank had two rights issues in the early nineties, which faced the prospect of not being fully subscribed. I invested in both rights issue, borrowing from friends and family, which made me the single largest shareholder in the bank. I first moved to Hyderabad, and then to Bangalore in 1994 because it was difficult to commute from Rajam to Bangalore, where the bank is based.
What prompted you to enter the infrastructure sector, given that in India the common perception is that the government should create infrastructure like airports and roads. Honestly, the focus on infrastructure began during my time with Vysya Bank. The bank had NPAs of 15.6 per cent, and I worked closely with the top management to reduce the NPAs to about 4.6 per cent. This entailed constant interaction with government, RBI and industry officials. The reduction in the bank’s NPAs gave us credibility, and, around that time, the power generation sector was being opened up to the private sector.
The GMR group set up two power plants — the 220 Mw Tanir Bavi project in Karnataka and the 200 Mw Basin Bridge. We will be commissioning the 320 Mw Vemagiri power plant soon. I believe that public-private partnership is the best way to develop the sorely-needed infrastructure in India.
After we decided to focus exclusively on infrastructure projects, the GMR group exited from all other business, including banking, insurance and brewery. The group’s other interest is in sugar, while the ferro alloys business has been given on a long-term contract.
But you did not have the track-record of building or modernising airports or laying roads. Or setting up power plants, for that matter. Do you believe that GMR has the bandwidth to execute such major projects?We have a very strong management team in place. More importantly, the GMR group always makes it a point to work with world-class companies. We have Fraport AG, one of the largest airport management companies in the world, which manages the Frankfurt Am Main airport, and Malaysia Airport Holdings Berhad, which manages the Kuala Lumpur International Airport, as our partners for modernising the Indira Gandhi International Airport in Delhi, along with Airport Authority of India. For the Hyderabad project, we have MAHB as a partner, while UEM, a Malaysian road management firm, manages our road projects in India.
The GMR Group developed expertise and management bandwidth during the nearly five-years it took for the signing of the agreement for the international airport in Hyderabad. For the Delhi and Mumbai airport projects, we worked with 16 international consultants, investing over Rs 32 crore, to draw up the bid.
Were you surprised when the government said the GMR consortium had emerged as the favoured bidder on various parameters? The GMR-led consortium was given the choice of taking up the modernisation and expansion of the IGIA and the Chhatrapati Shivaji International Airport in Mumbai. What made you choose IGIA?No, I was not surprised. We had put in a lot of hard work to make the bids. The consortium had also made a financial commitment of about Rs 4,000 crore even before the technical bids were opened, with ICICI Bank providing Rs 3,200 crore and PNB, Rs 750 crore.
The GMR group chose IGIA for two reasons. IGIA sits on 5,000 acres of land, so there is enormous scope for development. Also, under the contract, we can develop 250 acres of the land for commercial purposes. Delhi International Airport Private Ltd., the joint venture company which is modernising the airport, has the management contract for IGIA for 60 years. DIAL will be giving 46 per cent of its revenues to the government. IGIA currently has annual revenues of Rs 600 crore.
DIAL has already begun work on improving the facilities for passengers and air traffic. Under the first phase, DIAL will be investing Rs 2,800 crore. It will be building a common arrival and departure terminal spread over three million sft. The first phase will be completed by 2010, as per schedule.
What would be the status of the existing employees of IGIA?The airport has 2,300 employees, and under the contract we will retain 60 per cent of them. The first thing we did after DIAL got management control of IGIA was to bring in a change management firm to calm the anxieties of the employees.
Will the GMR group be bidding for the modernisation of the Chennai and Kolkata airports as well?Yes, of course. But right now we are focussing on building a world-class airport in Hyderabad, which we expect to complete in early 2008, and in New Delhi.



GMR Infrastructure Ltd., which is modernising Delhi airport, will hit the capital market on July 31, with its IPO to raise up to Rs 950 crore. The IPO comprises 3.81 crore shares at a price band of Rs 210-250. Retail inve-stors would, however, be given a five per cent discount.
GMR Infra would use the proceeds raised from the issue to part finance modernisation of Delhi airport and the greenfield Hyderabad international airport, besides in other power and infrastructure projects. The issue closes on August 4 and the listing is expected in September. At the upper limit of the band, the company would raise about Rs 954 crore and at the lower end about Rs 800 crore

Hyderabad, July 26: Influential people in the government have made crores of rupees on land deals with a simple three-step method, using agencies like the AP Industrial Infrastructure Corporation and Hyderabad Urban Development Authority.

Hundreds of acres of land have changed hands by this simple method: 1. Get land acquisition announced and drive down the prices of land to be acquired. 2. Buy land cheap from panicky sellers. 3. Get acquisition withdrawn. One example is Vattinagulapalli. The APIIC moved a proposal to acquire 229.29 acres on 12 January, 2005, in several survey numbers including 70 to 73, 118 to 126, 133 to 135 and 137 to 139.

A contractor, a pharmaceutical group and a film producer almost immediately stepped in and bought off the lands. “When the rate was Rs 1 crore to Rs 1.25 crores in Vattinagulapalli, they bought land for Rs 25 lakhs to Rs 30 lakhs,” V.N. Prasad, a local landowner, told this correspondent.

The APIIC then proposed withdrawal of the acquisition move. “There will be many restrictions on land use because the area is covered under GO Ms No. 111 which regulates growth in the 10-km radius of Himayatsagar and Osmansagar,” a senior APIIC official said.

It took one-and-a-half years for the corporation to that there were restrictions. To date, the withdrawal has not been officially announced. Since May 2004 when the Congress took over, the APIIC has proposed acquiring 4,508.36 acres of land for IT parks and 2,958.09 acres for industrial purposes in Ranga Reddy district.

Another 5,500 acres has been acquired or is in the process of acquisition by Hyderabad Urban Development Authority for the Outer Ring Road and 3,000 acres for the satellite townships.
In Gopanapally, transactions went on despite litigation over acquistion of 439.15 acres in several survey numbers including 145 to 152, 158 to 163 and 267 to 286. Following the APIIC move, some landowners approached court and obtained status quo.

“Contrary to our fears that registrations will be hampered if the case is in the Supreme Court, several people made transactions as can be seen from number of registrations,” a senior official of the stamps and registration department told this correspondent. After the first requisition was made on January 10, 2005, registrations took place in June, October, November in 2005 and March 2006.

The APIIC withdrewing a proposal to acquire land in Poppalaguda just when the Ranga Reddy district administration had completed the process. The APIIC board meeting passed a resolution withdrawing the acquisition. “The lands were knocked off by influential people about a year ago for Rs 10 lakh to Rs 35 lakh against the market rate of Rs 2 crore and above,” sources said. The government transferred a senior APIIC official reportedly for objecting to withdrawal of acquisition.

The list of hit-and-run APIIC acqisition is long. Here is a sample:

* The APIIC is considering withdrawal of acquisition of 565.16 acres in Gundlapochampally in survey numbers 510 to 512 and 520 to 522.

* APIIC proposed a Discovery City and sent requisition to the Ranga Reddy district collectorate on December 23, 2004. Then the corporation sent an intimation hinting at withdrawal.

* APIIC proposed hardware park in Bongloor in Ibrahimpatnam mandal and sent requisition on January 12, 2005, but has decided to withdraw it.

In January 2006, the APIIC proposed to acquire 1,148.12 acres in Sitarampur village of Shabad mandal and 1,245.39 acres in Aloor village of Chevella mandal for establishing industrial parks. The district officials are apprehensive about the fate of the acquisition proposal keeping in view the previous instances.

Ten thousand employees work in the twin buildings for Bell South in America. More than 5,000 work in a single office complex for AT&T. Then why does Infosys need thousands of acres of land? If Wipro and IBM can work out of rented offices in Bangalore, why can't Infosys?' writes an angry blogger about Infosys.
It is not just bloggers, many people in Bangalore say they fail to understand why the software giant is acquiring land not just in Bangalore, but all over India.
Infosys is today said to be the largest owner of land among IT companies in India, and not everyone is happy about this. Last year, former prime minister H D Deve Gowda took on Infosys, levelling charges of land grabbing, accusing the company of doing little for Bangalore's growth as an IT hub.
So why does Infosys need so much land?
Officially, Infosys says the company believes in building its own facilities to enhance productivity and maintain a young, collegial culture for the organisation.
Infosys' global headquarters and campus at the Electronics City, Bangalore, is the world's single largest software development facility among IT services companies. The company has large campuses and facilities at various development centres in India.
These centres are equipped with the latest technology and solutions for enterprise networking, office productivity, collaborative software engineering, and distributed project management. They also include facilities for ongoing education, fitness, sports, and multi-cuisine cafeterias.
How many acres of land does Infosys own?
The company declined to reveal the figure, saying it is "in the silent period before the quarter results."
But rough estimates -- provided by sources at Bangalore-based builder Sobha Developers, the real development firm that is in charge of executing Infosys campuses -- indicates that the company owns around 4,000 acres of land across India, where it has built, and is continuing to build, huge campuses.
"Is Infosys a real estate company or an IT firm? I fail to understand why they are greedy for land," says agitated social activist K Krishna Raghav, who supported an agitation by farmers who protested against the Karnataka government's decision to give land to Infosys reportedly at a throwaway price in Bellandur, a village on the outskirts of Bangalore.
"Why does Infosys need lots of land? Why do they need a golf course at their campus when people do not have living space in Bangalore?" asks Raghav.
Two years ago, Infosys came under attack from villagers in Bellandur who alleged that the IT major was buying wetland at rates much lower than prevailing market rates.
According to the villagers, the price of land in the Bellandur area ranged from Rs 40 lakh (Rs 4 million) to Rs 1.5 crore (Rs 15 million) in 2003. But the Karnataka Industrial Areas Development Board agreed to sell 100 acres to Infosys at a uniform rate of Rs 9 lakh (Rs 900,000) per acre.
In Bangalore, Infosys owns around 1,000 acres of land. The company employs nearly 25,000 people in itsBangalore development centres.
"Does Infosys need to provide more than 1,500 square feet of office space per employee?" asks Reghu Kumar, a Janata Dal-Secular politician in Bellandur. "They have built a golf course on their campus while people do not have any place to sleep in the city," said Kumar, whose party, the JD-S, rules Karnataka in alliance with the Bharatiya Janata Party.
The second largest Infosys campus, after Bangalore, will be in Hyderabad. The company is building a huge campus in the city spread over 550 acres of land. Infosys already has a campus over 50 acres in Hyderabad. Early this year, the Andhra Pradesh government sold 550 acres of land to Infosys at Rs 12 lakh (Rs 1.2 million) per acre: a low price in booming Hyderabad.
Infosys officials say the company is acquiring so much land because it is strapped for space. The company these days is building an additional space of 31,76,400 square feet at various development centres across India.
So where, in India, is Infosys building space?
Bangalore: The Electronic City is the company's global headquarters. It is the world's single largest software development facility among IT services companies.
Two software development blocks of 426,000 sq ft with 4,130 seats and a Multimedia Centre of 26,000 sq ft with 110 seats have already been completed at the Bangalore centre.
In addition, a software development block of 196,000 sq ft with 2,500 seats, a food court of 61,000 sq ft, an employee care centre of 264,000 sq ft and a multi-level car park of 310,000 sq ft are under construction. The existing capacity at the Infosys Bangalore campus comprises 20,84,836 sq ft with 14,465 seats.
Pune: Last year, two software development blocks of 250,000 sq ft, with 2,400 seats, were completed in Pune. A food court of 50,000 sq ft and two software development blocks of 374,000 sq ft with 3,000 seats, are under construction.
Together, the Infosys campuses in Pune have a built-up area of 848,647 sq ft. with 5,931 seats.
Bhubaneswar: A software development block of 95,000 sq ft, with 800 seats, and an employee care centre of 100,000 sq ft, have already been completed. Currently, a software development block of 139,000 sq ft, with 1,300 seats, is under construction.
The campus has a built-up area of 384,000 sq ft with 2,000 seats.
Chennai: An employee care centre of 75,000 sq ft has been completed. Currently, the campus has a built-up area of 496,317 sq ft with 2,976 seats. For the second campus in Chennai, work is under construction for two software development blocks of 250,000 sq ft, with 2,400 seats and a food court of 50,000 sq ft.
Hyderabad: A software development block of 154,000 sq ft of 1,100 seats has been completed. Civil works are in progress for the Enterprise Solutions University, including employee care facilities, of 300,000 sq ft. Currently, the campus has a built-up area of 616,000 sq ft with 3,965 seats.
Mysore: The 441,000 sq ft Global Education Centre, capable of training 4,500 professionals at a time, an employee care centre of 110,000 sq ft, 2,350 residential rooms of 110,000 sq ft and a food court of 36,000 sq ft, have been completed.
Two software development blocks of 420,000 sq ft, with 4,200 seats, 258 residential rooms of 141,900 sq ft, a food court of 39,000 sq ft and a multiplex building of 56,000 sq ft are under completion. Currently, the campus has a built-up area of 2,206,630 sq ft with 1,734 seats and can train and house 4,500 employees.
Mangalore: Infosys is buying 25 acres of land in Mangalore for expanding. Plans to invest Rs 300 crore (Rs 3 billion) in the Mangalore centre, which has topped in customer satisfaction and employee satisfaction among other Infosys centres.
The Mangalore centre, which celebrated its 10th anniversary, recently has grown from 20 employees in 1995 to more than 1,600 employees currently, servicing over 42 clients across the United States, Europe and the Asia-Pacific region.
Chandigarh: Work is in progress for a software development block of 330,000 sq ft with 3,100 seats, a food court, a health club and employee care centre of 1,74,500 sq ft.
Thiruvananthapuram: Interiors have been completed in the leased space of 22,000 sq ft, with 220 seats. Infosys has acquired 50 acres of land to build its own facility in Thiruvananthapuram.

NEW DELHI: Size does matter when it comes to Reliance, be it the largest refinery in the world, the biggest SEZ in the country or simply an office complex. The Mukesh Ambani-promoted Reliance Industries (RIL) is set to soon create yet another record by developing the largest single corporate office in the world, spanning over 2m sq ft in suburban Mumbai. The proposed Rs 150-crore office structure will be as large as four big-sized malls put together. It will headquarter RIL’s businesses of petroleum, retail and agriculture.

The office building, being built by Reliance Engineers Association, a group company which has developed many infrastructure projects of RIL, will be housed within a larger complex covering a total area of around 40m sq ft.

Sources in the know said that the dream project has drawn heavily from global corporate office structures like that of GE or Exxon Mobil in the US. The office complex, to be built on a theme titled ‘brilliance per square inch’, will include among other things a lake and a greenbelt. “The idea is to get the best brains in the country to share their ideas, and think together,” a source said.

Despite its growth and diversification into several business areas, RIL is yet to have a ‘proper headquarters’ for its operations. RIL is currently headquartered in its legendary Maker Chamber No IV in Nariman Point, Mumbai’s business district. Chairman Mukesh Ambani’s office is located on the fourth floor where the founder of RIL, and his father, Dhirubhai Ambani used to sit. The company occupies a couple of other floors in the same building and most of the petroleum and petrochemical business is controlled from there. Sources say that although the new headquarters is a dream project of Mukesh Ambani, he is unlikely to relocate completely from Maker Chambers as RIL’s roots lie there.

Reliance Infocomm, a pet project of Mukesh Ambani, was run from the Dhirubhai Ambani Knowledge Centre (DAKC) in the Mumbai suburb of Vashi. DAKC is now a part of the Anil Dhirubhai Ambani Group, as part of a family settlement. Incidentally, Mukesh Ambani’s new headquarters will be located barely a stone’s throw away from DAKC.

The project is expected to start in six months and will be completed in the next 12 months. The project is managed by Australian consulting firm Meinhardt. Meinhardt Singapore, which advised the government on Delhi and Mumbai airport modernisation projects, is also involved in integrated engineering of Reliance headquarters.

Hyderabad, July 24: Hyderabad Urban Development Authority (Huda) is planning to build 4,000 apartments in four regions of the city to cater to middle-class families.The project is to help persons with monthly incomes ranging from Rs 5,000 to Rs 8,000 to fulfil their dreams of owning a house at an affordable rate.
The apartments will come up at Shamshabad, Sahebnagar, Medchal, and Nallagandla and will cost from Rs 6 lakh to Rs 7 lakh.Huda chairman D. Sudheer Reddy said that guidelines were being formulated to ensure that the allotment was free of controversy.
Procedures for filing applications will be finalised by August/September. Beneficiaries will be selected by drawing of lots in October.Only people who have stayed in a particular area of the city for the last 10 years would be eligible to apply. “We have selected plots in four areas so that people living in all parts of the city can have access,” said Mr Sudheer Reddy.
Huda is planning to construct the apartments in one-and-a-half years. Beneficiaries would not be charged for the cost of the land, they would only have to pay the cost of construction.

Hyderabad, July 24: The Andhra Pradesh High Court has stayed the auction of plots near Hitech City by Hyderabad Urban Development Authority (Huda). Justice P.S. Narayana stalled the auction of plots in Izzathnagar and Serilingampally on writ petitions filed by N. Rami Reddy and others challenging the Huda’s decision.
The petitioners contended that the Huda was proceeding with the auction without even having valid title deeds. They added that despite their having purchased the lands, Huda tried to acquire them by issuing notices to the original owners who had already sold them.
Our correspondent adds that Huda chairman D. Sudheer Reddy clarified that the Izzathnagar plots do not belong to Huda at all. “The lands belong to the revenue department. It was the State government which had asked us to auction the plots of Izzathnagar. We are just acting as the facilitators,” Mr Reddy said.The Huda chief said that the government directed them to transfer all the money which will come from the auction of Kokapet lands.

Hyderabad, July 21: The second day of Huda’s auctions, this time of housing and shop plots, drew a comparatively smaller response on Friday. These plots were left over from earlier auctions. There were no takers for three plots in Nandagiri Hills, where a plot was sold at Rs 85,000 a square yard in February this year. Also not taken were a couple of plots in Asifnagar and one in Banjara Hills Road No. 10. Several bidders said Huda’s upset price was too high.
Nevertheless, Huda raised Rs 72.87 crore by the end of the day, auctioning 49 of the 56 plots on offer. Nine of the plots were located in Huda layouts at Nandagiri Hills, Chitra (one), Huda Trade Centre Ramachandrapuram (one), Nallagandla residential complex (five), Ramachandrapuram Ring Town (two), Huda Techno Enclave Madhapur (one) and Miyapur residential complex (31 plots).
Huda secretary and auction officer P. Venkatram Reddy expressed satisfaction with the response. “It was good keeping in view that these were leftover plots,” he said. Huda has earned about Rs 1,400 crores from February this year from auction of lands at Banjara and Jubilee Hills, Kokapet and other areas. The upset price for Nandagiri Hills plots was Rs 45,000 per square yard, Rs 50,000 for Banjara Hills and Rs 45,000 a square yard for Asifnagar plots. The highest bid amount for a Nandagiri Hills plot was Rs 65,000 per square yard. The minimum bid was Rs 46,000 per sq yard.
The lone plot in Chitra layout was auctioned for Rs 41,000 per sq yard (upset price Rs 40,000), the Trade Centre Ramachandrapuram plot for Rs 13,000 (Rs 12,500). In Ramachandrapuram Ring Town the maximum bid was Rs 15,500 against an upset price of Rs 6,000. In Nallagandla residential complex, the highest bid amount was Rs 17,600 and minimum Rs 10,000 per square yard against upset price of Rs 10,500.
For the plots in Miyapur residential complex, the maximum bid was Rs 30,500 and minimum Rs 10,500 against upset price of Rs 10,000. Most of the 31 plots were sold between Rs 10,500 and Rs 12,500 per square yard. The lone plot in Huda Techno Enclave got a single bid for Rs 55,000 per square yard against an offset price Rs 25,000.

The rights of oneself are limited by the rights of the other. One’s freedom of movement ends where the other person’s begins. This is the common law that applies to adjoining building owners too. The owner of a house owes reasonable behaviour to the neighbour, which if it crosses the limits and gets encroached upon to become “disturbance” or “harassment”, entitles the victim to take legal action. If “love thy neighbour” is a moral, “do not disturb the neighbour” is the law. The law protects every one from harassment, from neighbours and others, in respect of the property one owns or occupies.
The right to keep others out of property is one of the defining characteristics of property ownership. Those who are fortunate enough to own or rent their homes are entitled to injunctions to prevent intrusion and damages to compensate for trespass. As a landowner, the law gives you the right to the ordinary use and enjoyment of your land. But it’s important to remember that your next door neighbour enjoys the same rights.
It’s not necessary that we are always on good terms with our neighbours. Disputes arise because of boundaries, fences, trees and structures, animals and noise, nuisance and trespass, easements and rights of way.
Easementary Rights
* Everybody has a right to undisturbed enjoyment of his/her own property. Every house is entitled to reasonable amount of ventilation such as air and light from the lateral sides around. This is called “easementary” right. No owner of the land can construct a house till the end of the compound, without leaving set off space, to facilitate lateral light flowing into the neighbour’s house.
* Landowners are allowed to dig or excavate their own land, but neighbours are entitled to “natural support”, that is, lateral support of the land in its natural position. Excavation that appears to remove support is not in itself sufficient to make the excavating owner liable — damage must have occurred by subsidence. On the other hand, buildings do not enjoy a right of support so an excavator will generally be liable only for damage to the building (or to the land if the building’s weight led to subsidence) when there is negligence.
* Local council requirements may require retaining walls to be erected when excavations are undertaken. Thus the owner of a plot cannot dig so deep that the lateral support to the wall of the neighbouring house is lost and leads to its collapse.
* Most of the municipal building bylaws and norms are meant for protecting this right to ventilation. Any violation of the easementary right to light or air, can be questioned in a civil court and remedy in the form removal of obstruction through an injunction can be obtained.
* However, the owner of the land loses easementary right by not speaking against it for 20 years. That means, if he/she keeps quiet at the stoppage of light and air for 20 years he/she would lose the right to question it. It is a limitation on exercise of rights by the person. * Snapping the electricity connection or obstructing the water flow or piling up garbage near the living room or spreading foul smell deliberately to disturb are some of the mischievous things against which the victim has legal remedies both under Law of Torts (civil wrongs) and Law of Crimes.

Valid, Legal Complaints
* If the neighbour complains against someone for his or her violation of building norms, or for any other legal wrong, it cannot be considered harassment. It is the duty of every one to abide by the law. If someone hides his/her mistakes and the neighbour exposes them, the law will not provide any remedy for it. Every citizen has the authority to complain against people who do wrong. But, if the neighbour causes mischief and prevents the permission by manipulating the government machinery through his/her influence, the victim can agitate against him in the court of law.

Breach of contract
* If a person induces the builder or the authorities to do wrongs against the neighbouring flat owner or dweller, there are remedies available. If the neighbour induces the builder to breach the contract with the purchaser, the victim can file a case against the builder for breach of contract, and also file a suit for damages against the neighbour for inducing the contractor to do so. The later right is available to him under Law of Torts.

Conspiracy and Abetment
* If the neighbour provokes the municipal officer to misuse his authority to harass illegally, the victim can sue both the officer and the neighbour for misusing and provoking, or conspiring to inflict sufferance. The essence of being a good neighbour is respect combined with consideration for others. A dispute will strain relationships. While approaching your lawyer for advise, remember it is best to resolve matters through discussions.

An excellent home theatre system will have no meaning if it doesn’t have the acoustics to support it. Acoustics or soundproofing was essentially limited to auditoriums and cinema halls earlier, but with the advent of the home theatres, many people are using it for their home. Even at home, it’s not limited to the living room or the theatre room, but is being applied to cut down sound pollution.
* You wouldn’t require too many complicated gadgets or material layers to soundproof your home. A thicker wall, about 13 inches thick will do. Install double panes and you would have cut down sound penetration to a great extent.
* People usually get their home theatre room soundproofed because they wouldn’t want to disturb others when they are watching a movie or listening to music. The room is sometimes padded to contain the sound within and also carpet. Carpets absorb sound to a great extent.
* Air conditioners also absorb sound and prevent it from going out. Thick glass on the window panes also helps you overcome the effects of sound pollution.
* Echo is another problem which will have to be dealt with while soundproofing. Echoes usually occur when the walls are thin, around six inches thick. Padding can be provided in such a case. The open space in the centre arrangement also creates echoes. A piece of furniture placed here will do the trick.
Disadvantage:
A major disadvantage of soundproofing is that it makes the house susceptible to burglar attacks. Therefore it’s ideal that you limit it only to the TV room. Install a fool-proof alarm system to keep your house safe.

The State government is all set to impose yet another financial burden on the real estate sector by charging an “exorbitant” fee on land which is for non-agricultural purposes. The revenue department which collects a nominal yearly Non-Agricultural Land Assessment (NALA) fee from farmers has now decided to collect a one time fee, which will be 10 per cent of the market rate, fixed by the government for registration purposes. This could mean that land owners will end up paying anywhere between Rs 2.5 lakh and Rs 10 lakh per acre, depending on the market rate, as conversion fee.
The government will also impose 50 per cent of the fee as penalty if the land owners fail to pay the one-time conversion fee within the stipulated deadline. This will be fixed by the government again. The immediate impact of this new fee burden could be felt by the realtors who are into forming layouts in a big way in all the urban agglomerations, particularly in the city outskirts. Official sources reveal that the government brought in a new legislation, AP Agricultural Land (Conversion for non-agricultural purposes) Act 2006, a few months back. They, however withheld its implementation in view of the panchayat raj elections. The Act is likely to be implemented from August.
In the era of real estate boom the government has enhanced the market rates for lands and is all set to take up further enhancement on the city outskirts from August 1. “The market price of lands in the radius of 40-50 kms is a minimum of Rs 25 lakh per acre. In such a case the one time conversion fee to be paid to the Revenue department will be Rs 2.5 lakh as against the Rs 500 to Rs 1,000 to be paid by land owners per acre every year, depending on the area,” a senior official said.
This will be in addition to the charges paid to Hyderabad Urban Development Authority for change of land use. At the time of submitting the layout plan, the developers pay Rs 10 per sq mt to Huda for converting the land from conservation zone to residential zone, and sometimes even higher if it is for commercial and industrial purposes. Many of the land owners default on their payment of NALA and the Revenue department neglected the issue all this while because it involved a complicated procedure of assessing NALA for each land every year and collect it from the farmers.
“The compliance rate vis-à-vis payment of NALA is very low. With the new rule, the land owners cannot not pay the fee. If they fail, the land they own will be given deemed conversion and 50 per cent of the conversion fee will be collected over and above the conversion fee,” a senior revenue department official said. The government will also interlink sanction of layout plans or building plans in case of individual vacant plots to the payment of one time conversion fee.
As the NALA Act would be repealed from the date of implementation of the new Act, the government also plans to recover all the NALA arrears from individuals and organisations. “We will also impose the AP Revenue Recovery Act to collect arrears,” the official said.

NEW DELHI: As it awaits market regulator SEBI's nod for its mega public offering, construction and real estate major DLF finds itself in a tight spot yet again with the government seeking clarifications on complaints lodged by a few shareholders with regard to rights issue of debentures.
Some of the shareholders had approached SEBI complaining that they were not informed about the rights issue as a result of which they were denied opportunity to participate in DLF's debenture issue.
"The matter has been referred to us by SEBI and we have sought some information from DLF with regard to complaints," said, Company Affairs Minister Prem Chand Gupta.
DLF IPO, believed to be the one of the biggest private sector public float, is expected to hit the market immediately after it gets SEBI's nod.
The company is estimated to mop up around Rs 13,000 crore from the equity market.
When contacted, DLF confirmed the receipt of communication from the Ministry of Company Affairs and said "the ministry is looking into the issue and we are offering all cooperation and required information."
The company is also facing hiccups on the legal side with the Monopolies and Restrictive Trade Practices Commission (MRTPC) finding it guilty of unfair trade practices, the second time in the last three months, for billing customers for escalation charges.
MRTPC has asked DLF to return the money of a customer, with interest, who chose to cancel his allotment when asked to cough up more than originally told. MRTPC slammed DLF for altering the basic terms of its Apartment Buyer's Agreement and termed it as an "unforeseen burden".

NEW DELHI: As it battles pre-IPO hiccups in a volatile market, construction major DLF was caught on the wrong side, the second time in the last three months, by Monopolies and Restrictive Trade Practices Commission who found the builder guilty of "unfair trade practice".

DLF, which faced similar verdict in May for billing customers for escalation charges, has now been ordered to return the money of a customer, with interest, who chose to cancel his allotment when asked to cough up more than originally told.

"The respondent (DLF) is directed to refund the applicant the component of the earnest money," MRTPC acting Chairman M M K Sardana said in his order this week. The Commission also directed the company to pay nine per cent interest to its customer.

MRTPC slammed DLF for altering the basic terms of its Apartment Buyer's Agreement and termed it as "unforeseen burden".

"The respondent (DLF) is a very renowned builder and should normally not be incorporating clauses, in which balance is tilted towards it," MRTPC said.

In their appeal, Brigadier Umang Seth and Ekta Seth had accused DLF of "arbitrarily deducting money" in their DLF Regency Park, Gurgaon, scheme. Irked, they chose to cancel their flats rather than pay the cost escalation charges.

The duo had entered into agreement an agreement with DLF in 1993 for a flat in DLF Regency Park. As per the agreement, the Seths were to pay Rs 16.37 lakh in 42 installments in 10 years. DLF was supposed to hand over the possession of the flat in three years or by 1996.

On the other hand, after two years of delay, in 1998, DLF demanded an extra sum of Rs 4.21 lakh "towards cost escalation" and asked them to pay this in four bi-monthly installments of Rs 1.05 lakh.

Feeling aggrieved, the Seths cancelled the allotment. Later DLF returned the money but arbitrarily deducted Rs 1.8 lakhs on flimsy grounds, they alleged.

Seth knocked the doors of the Commission, praying it to direct DLF to return his forfeited sum as well as cough up compensation for "loss and injury suffered".

During the proceeding of the Commission, the construction major contended that Seth had terminated the agreement and had already encashed the cheque given by it. "Now he cannot be regarded as consumer and is not competent to file the suit," it argued.

It also said that in the Apartment Buyer's Agreement, it has mentioned word "proposed to deliver" and not "would be delivered" and thus it did not incur any liability if flats were not delivered in time.

It also pleaded that delay was due to various factors that were out of its control such as not getting timely approval from the government authorities.

"Delay in granting approval of the building plans and the occupation certificate would also not bring any liability on us," DLF said, citing clauses of the agreement.

The Commission rejected the DLF arguments saying," pleas taken by the respondent have no weight". It also rejected the DLF contention that the case was not maintainable because Seth was not a customer after canceling his allotment.

MRTPC said that deduction was made after cancelling the allotments and thus the cause of action arose after that.

As long as the term continues, the tenant has all rights over the property leased to him, except the right to ownership and title of the property. Right to undisturbed possession and enjoyment of the house is the essential character of tenancy.

Lease Deed: The rights of the tenant are generally what both the lessor (owner of the house) and the lessee (tenant) agree upon. Thus the agreement becomes the real law that gives out rights and prescribed obligations to the parties concerned. Hence, the tenant should see to it that his interests are incorporated in the rent-deed. The tenant loses his tenancy rights if he breaches the terms of agreement.

Lessee remains a lessee: When the tenant disputes the title of the owner or when he stakes a claim to the ownership of the leased house, tenancy can be terminated. “Once a tenant always a tenant” is the established principle of property law. The tenant cannot become the owner of the leased property just because he’s been living there for years. The tenant can become the owner only when he buys the property.

Eviction by due process: Though the landlord has right to evict the tenant, under certain circumstances, it can be done only after issuing a notice and giving sufficient time to find alternative accommodation. If the tenant refuses to vacate the room, the landlord has to approach the court of law to secure an order for eviction. Possession is considered nine points of the law and the State and law favours protection of possession rather than disturbing it.

Security of tenure: The tenant has a right to complete the agreed upon term. However, the lease can be terminated by:

a) Mutual agreement: Both the parties agree on putting an end to the contract.

b) Unilateral termination: Either party can give notice of intention to vacate the house.

Right to repair: Landlords have a legal responsibility to carry out repairs to the structure. Tenants can demand the landlord to do so. Tenants can do it on their own, provided they get the landlord’s approval. The landlord will have to reimburse the money if the tenants take up repair work voluntarily.

Right to inherit: If a tenant dies during the term of tenancy, the spouse can inherit the tenancy rights with the same conditions.

Right to home improvement: The tenant has a right to make improvements if he/she gets a written permission from the landlord. The tenant can approach the civil court if he is denied permission. There is a right to compensation for improvements made with the written permission of the landlord.

Right to habitable house: The law gives tenants an “implied warranty of habitability.” This means that the landlord must promise that the property is safe and fit to live in.

Right to receipt: The tenant has the right to get an authorised receipt for the rent or advance he pays

Thanks to the frantic pace of construction in Hyderabad, architecture and aesthetics have usually been given the go-by. There seems to be an unseemly hurry to put up massive and ugly structures, which are used to house mostly technology companies looking for office space. There is hardly any office, or residential, block for that matter, which merit a second look. Most of them will never make the cut for an architectural award.

The exceptions appear to be the Indian School of Business, and the Infosys’ campus in Gachibowli. The design of the Microsoft campus, adjacent to ISB, could have been imported, blueprint by blueprint, from the software giant’s global headquarters in Redmond in Washington State in the U.S. Even the parking lots, a Microsoft executive once told me proudly, are similar to those in Redmond. Ditto for Dell, Oracle and IBM.

In such a bland landscape, dominated by assembly-line construction, the headquarters of Indu Projects Ltd., a four-year-old infrastructure company, comes across as a whiff of fresh air. The surprising thing about IPL’s office is that from the outside it looks like a large industrial shed, where, inside, workers are probably toiling away making boilers or something. But once you step inside it’s a whole different world. The shed, made of galvanised steel sheets filling the space between steel girders, encloses office space of 23,000 sq. feet.

“We decided that the office needed to be open, airy and contemporary. We commissioned Paul Kunnel, a Bangalore-based architect, to come up with a design that would meet the above requirements, and Mr Kunnel came up with the idea of the industrial shed design,” says I. Syam Prasad Reddy, managing director and CEO of Indu Projects Ltd.

The roof of the structure is one giant skylight, letting in natural light, while the building is also clad, internally, in aluminium foil strengthened with rock wool. “The foil and rock wool are fire retardant, and the colour is bright gray, which compliments the company’s orange motifs,” says Mr Reddy. The interior of the structure favours a lot of chrome and glass, with senior executive offices taking up the sides. “We used a lot of glass to make the office more open and transparent. This ensures that employees can step into the offices of senior executives if they have a problem,” he says.

The middle is a huge open-plan, with the workstations angled at 120 degrees to each other. “The 120 degree angle has been proved to be ideal, because it provides optimum space to each employee at the workstations,” explains Mr Reddy. “The cost of airconditioning the complex is relatively low because the vents are at mid-height, instead of in the roof or in the sides. This height also helps in spreading the air evenly around the complex,” he says. Currently, IPL has 90 employees working out of its corporate headquarters. The company is building a first floor in the complex to house new hires.

The survey feels that there is no real estate bubble yet. One reason for such a benevolent outlook is that house prices are on the whole lower than they were in the mid-1990s. There can be a few giveaway clues that a bubble is forming. One such is `evidence of buying and selling to take advantage of the capital gains available in the market rather than for owner occupation.' India shares the top spot in real estate front with a 20 per cent hike in the last quarter of 2005.

Global economy was buoyant last year. The Asia and Pacific region, in which India is located, also experienced strong growth. "Despite high energy prices globally, price pressures rose only moderately in 2005 and are expected to remain muted, or even ease slightly, in 2006," notes `Economic and Social Survey of Asia and the Pacific 2006' from the UN's ESCAP, published by Academic Foundation (www.academicfoundation.com).

While on prices there can be varied views, especially after the recent round of fuel price hikes, the survey has a discussion of importance to real-estate trackers. It comes in the form of a question: "Is there a property bubble in the region?" For starters, the phrase `property bubble' or `real estate bubble' is marked by `rapid speculative increases in the valuations of real property,' as Wikipedia explains.

Misallocation

According to OECD (the Organisation for Economic Cooperation and Development), asset or housing bubble occurs "when the ratio of house prices to house rents exceeds a `fundamental ratio'." Another explanation cited in the survey is that bubble occurs "when average house prices are significantly higher than historical multiples of average annual earnings."

Like other economic bubbles, property bubble too leaves in its wake `misallocation of resources into non-optimal uses' and a crash that destroys much wealth. "In the Republic of Korea, for instance, house prices slumped by 45 per cent in the immediate aftermath of the Asian financial crises. Similarly, in Hong Kong, China, the average price of luxury homes tumbled 58 per cent in 1998 from their peak in mid-1997." How frightening!

Not empty babble

If you wonder whether talking about property bubble is only empty babble, you may be wrong. The topic is very much news. "China has ordered banks to restrict lending for real estate amid fears of a property bubble, prompting developers to raise funds by selling equity," informs www.thestandard.com.hk in a news report dated July 6. "Amid continued disputes over a possible property bubble burst, commercial lenders expect the credit risk for Korean households to be higher in the coming months," alerts www.koreaherald.co.kr citing Bank of Korea's numbers. And www.property-report.com has a story titled `Real estate: How much is enough?' which notes that with house price appreciation continuing in some countries such as the U.K., the property bubble is now looking `very stretched'. "Prices seem to have already peaked in the U.S. and Australia."

The book on hand presents the changes in real estate prices from 2004 to 2005. In this, India shares the top spot, along with Korea, with a 20 per cent hike in the last quarter of 2005, overwhelming the inflation rate many times over. In China the change is 6.6, and Singapore recorded half that. It is 1 per cent in Australia, and minus 4.7 per cent in Japan.

"The Asia and Pacific region has witnessed a sharp increase in property prices over the last few years, with this trend continuing in 2005," notes the book. "In certain parts of the region, the increase has been extraordinary in real terms given the relatively low rates of inflation currently prevailing." At 4.5 per cent, India's inflation is the highest, in comparison to the rates of Korea (2.9), Hong Kong (1.1), New Zealand (2.8), China (2.4), Singapore (0.5), Australia (2.4) and Japan (-0.1).

Widening gap

Disturbingly, the survey speaks of "a widening gap between the ratio of house prices and house rents". Thankfully, however, "evidence of a property bubble in the region in the strict sense of the word has not been found except in particular locations."

There are no signs yet that property prices in the Asian and Pacific region are likely to fall dramatically in the near future, predicts the publication.

There can be a few giveaway clues that a bubble is forming. One such is `evidence of buying and selling to take advantage of the capital gains available in the market rather than for owner occupation.'

Rest assured, though, that it is not wrong to borrow for buying real estate as investment rather than own occupation. "The action can be regarded as rational profit-seeking behaviour so long as borrowers are able to sell at a profit," explains the book.

"The buying becomes speculative when people begin to borrow to buy, regardless of price or of their ability to service the debt, in the expectation of selling at an even higher price." One obvious example of speculation is "people buying property with a loan and selling it before their first mortgage payment becomes due."

"The survey feels that there is no real estate bubble yet. One reason for such a benevolent outlook is that house prices are "on the whole lower than they were in the mid-1990s."

SECURITY FOR homes or office buildings is now just a click away. With Zicom Electronic Security Systems launching a new range of products for homes and offices, protection from thefts and burglary is easily available now.

The intrusion detection system designed for homes will be connected to a Central Monitoring Station (CMS), which will keep constant vigil over the customer's house and premises, said G. Narayan, State Manager of Tamil Nadu and Kerala of Zicom.

It would also have a video door phone, which would enable the customer to view the person outside the door and speak to the person without opening the door. A motion sensor and gas leak sensor are the other options available with the system.

In the case of offices, the CMS would be replaced by a Video Monitoring Service. The CMS rates could be anywhere between Rs. 200 and Rs. 300, and the Video Monitoring System between Rs. 400 and Rs. 500. But, it would vary in different cities.

Zicom had launched the product in 24 cities in India including Tamil Nadu (in Chennai, Madurai and Coimbatore).

However, the sensors would only detect human flesh. It would not be able to detect animals, Mr. Narayanan said. But, it could take care of multiple entry points.

The system would be useful not only in homes, but hospitals, banks, ATM centres, malls and multiplexes, educational institutions and small and medium establishments.

Mr. Narayanan said that the response had been good in Tamil Nadu, especially in Coimbatore.

The security system would be connected to a 110-decibel hooter, which would sound an alarm when somebody broke into the building and it would work irrespective of the size of the building. "Even if the house has 24 rooms, all the rooms would come under the surveillance of the monitoring system," said Deepak Deleep, Assistant Manager, Service, South. The company had struck deals with a few builders in Coimbatore who evinced keen interest in constructing apartments with a built-in security system. Jewellery outlets and banks too had shown great interest in the product, Mr. Narayanan said.

The security system for homes comes in three packages of Rs. 6,495, Rs. 12,995 and Rs. 22,495. For offices, it comes at Rs. 54,995, Rs. 99,995 and Rs. 1,49,995.

IF YOU are looking for Kashmiri home products, the perfect place for you to visit is Commercial Street in Bangalore. If you start from Arihant Plaza on Kamaraj Road, you will get an art gallery to your right where you can find handicrafts, carpets (Rs. 2,500 to Rs. 2,50,000), wall hangings, bedsheets, bed covers and paintings from Kashmir.

Further up the road, you will find another emporium of carpets, shawls and handicrafts with prices ranging from Rs. 150 to Rs. 25,000.

Diagonally opposite to it is a showroom of sewing machines, both ordinary and zig-zag type, and you may ask for a free week-long training.

Next to it, you have a complete linen store where you can get mattresses, bath and table linen. Towels cost Rs. 100 to Rs. 800, bed sheet Rs. 200 to Rs. 5,000 and bedspreads Rs. 500 to Rs. 5,000.

If you are looking for hospitality and hospital linen like logo towels (Rs. 15 to Rs. 135), and sheets, soft interior fabrics (Rs. 100 to Rs. 1000), leisure accessories, corporate gifts and mementos, visit the next shop. The neighbouring shop has a grandfather clock (Rs. 52,000), antique clocks (Rs. 7,000 to Rs. 20,000) and cuckoo clocks.

Jewel carpets

Then you may buy jewel carpet (4/6 feet) costing Rs. 1,00,000, magic carpets, oriental carpets, hand knotted carpets and wall hangings at Azim Carpet Industries, Kashmir Handicrafts Emporium.

Go further and on the left you get A. Sattar and Sons where you may buy carpets and rugs, all varieties of wall to wall carpets, vinyl floorings, Duro Turf and LG mats, matting and flooring, plastics, PVC sheeting, shower curtains, table mats and doormats.

Next to it you have general cloth merchants who deal with pillows, bedspreads, door mats and curtains. Diagonally opposite to it you will find dealers in sofa panel (frame) (Rs. 195 to Rs. 395) and hand woven table clothes.

Further on to your left you will find an all Kashmir products showroom run by the Jammu and Kashmir Government. Next door, Indo Arts offers antique pieces (Rs. 10 to Rs.10,000). Statues, paintings, photo frames, wall plates, hanging, flower vases and woollen carpets too are available. "Innovations" is the right place for bed, bath and table linen. The workers in the shop also furnish sofas and curtains. A metre of furnishing material costs Rs. 148 to Rs. 750. Curtain accessories such as holders and pipes are also available.

The next shop sells attractive ready-made door curtains (Rs. 120), window curtains (Rs. 100) and shower curtains (Rs. 250). Opposite to it is a house of handicrafts specialising in Kashmiri products (Rs. 50 to Rs. 2,000). Next to it you find hand embroidery furnishing items. A house of handicrafts and cushions (Rs. 50 to Rs. 5,000) is situated opposite to it.

Move ahead. On your right you will find artefacts, silk carpets, brass ware, wood carvings, furniture, brass and bronze icons, general showpieces such as telescopes, grandfather clocks and antique pieces (Rs. 50 to Rs. 5,000).

Next to it you will find the Kashmir Valley Arts Emporium which houses Kashmir silk (Rs. 2000 to Rs. 1,00,000) and cushions (Rs. 50 and Rs. 300). In the shop next door, you get fancy table and cuckoo clocks (Rs. 300 to Rs. 1,000). In the next shop you get home appliances such as gas stoves, pressure cookers, fans of all types, refrigerators, air conditioners or any electronic item.

Handicrafts museum

Buy handicrafts, paintings, wall hangings, bed sheets, wall covers from Tibet at "Tibet Arts." Opposite to it, you can shop for furnishing items like curtains, sofas, upholstery and mattress (Rs. 200 to Rs. 1,000 a metre). Next is the Handicrafts Museum where you get all kinds of sandal wood, rose wood, inlaid and other artistic articles. Price depends on the wood you select.

Now you have crossed Commercial Street Police Station. Upstairs on your right, you will find a shop of nets, meshes, insect screens and macher jali (a sieve). A little further down you will find a hardware shop stocking handles, locks and door fittings. Writing table of wall nut wood, brass figures, wooden chess boards, sandal wood carvings, jewel boxes wall hangings and vases are available at Bandar Brothers. Attractive they all are.

Further to your left in the basement you will find manufacturers, dealers and exporters of embroidered fabrics, silks, wood carvings, brocades, silk carpets and paintings. Next to it is a shop specialising in carpets.

You can select lush silk furnishing materials, home linen and upholstery from the two-storeyed shop called Zara on your right (Rs. 195 to Rs. 4,000 a metre).

On the same side, you will find an hardware shop which deals with door locks, handles, hangers, paints, door fittings and hinges. Further ahead on the street you will find Mysore Handicrafts Emporium, which specialises in handicrafts made of rose wood, sandal wood, and metals like brass and bronze. Next to it is the shop for buying door mats, pillows, and ordinary carpets.

Opposite to it you can look for lawn movers and gardening tools and also drilling machines. The next shop, a factory outlet of The Webbing and Belting Factory Private Limited, sells furnishing fabrics, towels, bed linen, table linen, bath linen, printed materials and other linen fabrics at a very reasonable price.

The last shop on the left dealing with property is V. Das and Sons which deals with all types of locks, furniture fittings and kitchen accessories.

THE SOUTH-BASED construction major, Sobha Group will go in for an initial public offer (IPO) through a 100 per cent book-building route to fund its expansion plans.

With a turnover of over Rs.800 crores, the group, with a backward integration model, has 29 ongoing projects and last year completed eight million sq.ft. of residential and corporate space.

With nearly 30 per cent of its revenue coming through the corporate route, the company is all set to expand to other cities, Jackbastian K. Nazareth, group director for marketing, sales and company Affairs, told a visiting UNI correspondent at Vadakkenchery near Palakkad in Kerala.

Preparation

Mr. Nazareth said the process of preparing the draft prospectus for the IPO was in final stages and would be submitted to Stock and Exchange Board of India soon. He said the size of the IPO was yet to be finalised.

He said only a few real estate houses had successfully tapped the capital market.

He said the real estate boom in the country would witness a new growth trajectory with the FDI being allowed in real estate by the Government and also opening up of mutual funds to look at real estate properties.

Property

Mr. Nazareth said the group, which had been building flats predominantly in Bangalore, would soon spread to Kerala where it had identified property in Kochi and Thrissur for a major housing project. Similarly it would also start construction in Mysore in Karnataka besides other cities such as Delhi, Pune, Hyderabad and Chennai. ``We will be present in 13 cities shortly'' he added.

Backward integration

Perhaps one of the few builders to have backward integration, Sobha Group had factories for woodwork, glazed tiles and hollow blocks. Mr. Nazareth said that over a period of time, these units would become income generating ones on their own selling surplus materials. It had recently installed a German machine in its unit in Bangalore where 20,000 hollow blocks could be produced in a day.

Sri Kurtumba Trust, a charitable trust founded by Sobha Group Chairman P.N.C Menon, has come up with a charitable home for aged at Vadakkencherry to help aged couples, who have no known source of income, live a decent life.

Called the `Sobha Hermitage,' the old-age home has 55 rooms of which 50 would be provided to the deserving couple. Nearly 60 per cent of it would be provided free trust chairman V.K. Balan told newsmen.

The project on completion would cost Rs 13 crores, he added. The monthly recurring expenditure would be around Rs 1.3 crore. Besides the old age home, a polyclinic and a school was also being built in a 25 acre, area he added. - UNI

REAL ESTATE prices for commercial space in capital are likely to remain buoyant in the short-term while realty prices in Mumbai are expected to witness a dip in medium-term, Cushman and Wakefield, global consulting firm, has said.

Lease rentals and capital values are expected to remain high in Delhi property market in the short term, Cushman and Wakefield said in its latest updates. It pegged office space supply at 7.8 million sq.ft. in the capital during the year. During last quarter (January-March), office rentals rose by 10 per cent to 16 per cent in booming satellite city of Gurgaon. On Mumbai property market, C&W said supply of 12 million sq.ft. of new office space in the next 24 to 36 months is likely to bring a downward correction.

This much-needed downward price correction over medium term would help retain Mumbai's competitiveness over the long term, the realty consulting firm said.

Demand

In Chennai, the demand for commercial office space is likely to continue to exceed supply, resulting in marginal increase in rental value in the office segment.

``The key drivers of growth in Chennai for office space continue to be the IT and ITES sector,'' C&W said. The realty firm also predicted a continuing demand trend for commercial space in Pune over forthcoming months.

MNCs such as Accenture, Sun Microsystems and Deloitte have made significant commitment in Pune over the past two months and trend would continue over next the 12 to 18 months. - PTI

Construction of a building always takes months together. Or does it? Welcome to new age constructions that are over in a matter of just 15 to 20 days

CONSTRUCTING A building, be it a house or an office, does not involve months of waiting, haggling with construction workers or worrying about an ever-exceeding budget anymore.

Fast track

With the new fast track modular construction method, a building can be completed in 15 to 20 days.

Compared with the conventional method of construction, which involves the use of bricks, water, sand and concrete, this system saves time. It can also be done according to the preferences of the customer.

The building material is either cement bonded with fly ash or with wood pulp. This material is lighter than concrete yet has the compressive strength of a normal brick, says

No vacuum

V. Unnikreshnan, Managing Director of Southland Constructions, one of the companies that deal with the designing and installation of the modular constructions. Since there is no vacuum within the material, the strength is much more than normal bricks, he adds.

Though the market is only waking up to the idea of building houses using this material, it is increasingly used to build extensions in houses.

For instance, an outhouse or a little room in a corner of the garden can be built in a day following this method. And, for building such a structure, the foundation needs to be only one foot deep.

Old buildings

In the case of very old buildings, which may have weak foundations, it may not be possible to build extensions using bricks, as the foundation may not be able to take the weight of metal, sand and bricks.

By installing a modular extension, this problem could be solved, Mr. Unnikreshnan explains.

Since the material is steam-cured and subjected to elongations and shrinkages while curing, cracks are not easily formed. Also, they are made following the tongue and groove technology, making them earthquake resistant. The guarantee for modular constructions is 25 years.

Advantage

Another advantage is that the structure built in this fashion can be relocated. There is no need for demolition as in the case of normal bricks. "While relocating, the extent of damage to the units is only five to ten per cent," says Babu C. Mathew, Project Co-ordinator of Southland Constructions.

However, modular constructions are not cheaper than the conventional method of construction.

But, time and the labour costs can be saved to a great extent, Mr. Babu observes. The floor space can be saved to almost seven inches from each side in a room. (The thickness of a normal brick is 9 inches.)

Saves space

"It saves seven times more carpet space than the conventional bricks. While the material is widely used in other countries for building houses, the awareness is only growing very slowly here," he says.

Vaasthu

Educational institutions and offices too use this material for building internal partitions. While aluminium and pre-laminated boards are the most commonly used materials in building partition walls, they are expensive and do not have sound insulation properties.

They are also termite-resistant. This material is 40 per cent cheaper than aluminium partitions. Roofs can also be built using this material.

With Vaasthu having caught on with the public, this arrangement has come in handy for houses and offices.

In certain readymade apartments, sometimes the location of the kitchen or the living room may not be ideal as per Vaasthu.

Minor changes

In such cases, minor changes can be brought into the rooms by building partition walls.

Since modular construction system is re-locatable, the partitions can be removed as and when required.

Also, the surface of the walls need not be plastered. It can be painted, wood panelled or have ceramic tiles stuck on them.

It is also fire-resistant thereby making it ideal in the construction of kitchen cabinets. There is no need to worry about termite attacks too, unlike wooden cabinets.

Not messy

In the case of modular constructions, there is no need to scout for skilled manpower and the construction process is not messy. It requires no water or sand, and so is also called dry construction.

"There is almost 50 per cent difference between the temperatures outside and inside a building constructed as per the modular system," Mr. Babu says.

Do you think that your garden would look stale and tire you after a few years? May be not. The garden is like nature - alive and dynamic. It constantly changes and has a life of its own, provided you take adequate care of it.

Gardens outgrow their initial environment. Time is factored into the design. When a designer places a tree sapling, sketches a lawn and visualises a garden he or she takes account of the time factor. It may not always be possible to design exclusively for the future, because the immediate visual effect is what a landscape architect is expected to deliver.

It is absolutely imperative that one takes a close look at the garden say five to seven years down the line, whether it is part of a factory, a corporate, a facility or a home. In the case of smaller residences the need to change design to suit growth is not pronounced. However, it could be reviewed based on personal preferences. We will be looking at this aspect in some detail in the coming weeks but for starters we will consider why the need to change and redesign is to be considered seriously.

Dosage of nutrients

The most obvious reason is the soil. The initial soil preparation needs to be enhanced annually with adequate doses of nutrients, preferably bio-fertilizers. The use of chemicals, a rampant practice, may produce immediate results and may be required in some cases. But all this can only provide sustenance and in case of bio-products, the basic nature of the soil will not be harmed. But over a period of time the soil despite all care loses its capacities. A part of it may be also lost due to heavy rain and sustained watering. External factors such as paint and distemper droppings during whitewash can penetrate the soil and play havoc with its composition. In any case it is necessary to add a few inches of soil mix every five years and, if need be, remove the existing soil and refill the same with fresh sand, red earth and natural manure. While adding a few inches of soil, care must be taken not to expose the growing roots of plants and trees. In the case of lawns, whatever the extent and quality of care taken, the grass loses its sheen in about five years.

Another factor is that in a period of five or more years, the topography of a site would have changed. This is more pronounced in the larger sites where buildings are added and the obvious casualty is the lawn. If it does not give way to built-up area then it surely becomes a part of the approach either in the form of a road or utility pathway. In such cases the entire design needs to be changed .

Sunlight a necessity

Another reason that will compel a review of your garden is the growth of plant materials used on the site. Trees and larger shrubs tend to grow higher, occupy more space and spread their canopy around.

This necessitates changes in variety. For example Korean grass is one of the easier grass to maintain.

It is free from weeds. It does not require frequent mowing and its carpet like quality is both a visual treat and a pleasure to walk bare foot. But it needs sunlight and more of it during one half of the day.

In cases where Korean grass is laid along with Australian grass, there are chances that shading pattern may affect the growth. It then becomes necessary to change the type of grass used.

Trees must be closely attended to. Trees are generally planted along the periphery with the central areas of the plot occupied by buildings, parking lots, and visually appealing landscape elements.

Once the tree starts spreading its branches the most natural thing to do in a bid to avoid complaints from neighbours or corporation authorities is to chop off those branches on the roadside.

Accuracy of steel fabrication and dimensional tolerances are important and should be ensured in the site.

The concrete surface must be kept clean of mud, oil and rust.

The reinforcement bars should be tied together at intersections and at sufficiently close intervals will

provide rigidity to the frame.

Adequate cover must be given to steel reinforcement to protect it from corrosion.

Concrete must be tested for its strength either in fresh or hardened state.

Three factors influence the rise: Promotion of Chennai as an investment destination, particularly IT sector, increase in FSI and Foreign Direct Investment

It is generally believed that the value of land used for industrial purpose is less than a house plot and value of plots of smaller extent will be more than the plot of larger extent. This is not always true, not so in Chennai.

Normally in a township 50% of land is reserved for residential use, 8% for commercial use, 1% for industrial use and 8% for institutional use. The balance will be reserved for roads, parks and open spaces.

The residential use will be further divided for economically weaker section, lower income group, middle-income group and for higher income group. The unit rate of land will be more for commercial than residential use. The unit rate of land for MIG and HIG residential use will be more than that for a plot meant for industrial use. The ratios and rates may vary but the price of Industrial use will be about 50 % to 60% of the unit rate for housing plots of HIG and MIG.

The situation is now reversed. Land for industrial use costs more than house plots influenced by three factors. One is the government emphasis on promoting Chennai as a destination for investment, in particular IT sector. The other is the incentive in the form of higher Floor Space Index (FSI) and the increasing foreign direct investment in real estate.

The Tamil Nadu Government focussed its attention on I.T. industry and adopted an exclusive IT policy. The main objectives were to encourage the growth of hardware and software industries and associated services. The Government in addition to encouraging the private developers also set up IT parks. These IT parks are treated as an industry and are eligible for various concessions.

Increase in FSI

One of the important incentives given for IT buildings is the increase in Floor Space Index. The demand for IT buildings coupled with this higher FSI has motivated many builders to construct IT buildings. An IT park or a building dedicated to IT purpose can get additional 50 per cent F.S.I over and above the normal F.S.I permitted. The FSI is defined as the quotient obtained by dividing the total coverage area on all the floors by the plot area. If the extent of plot is 10,000 sft and the F.S.I is 1.5, the maximum built up area, with all floors together, shall not exceed 15,000 sft. A plot with more than 1500 sq.m (about 6.73 grounds) facing a road, more than 60 feet wide, is fit to have a multi- storeyed building. The permitted F.S.I for multi-storeyed building is 2.5. The same building, exclusively dedicated for IT purpose, can enjoy a higher FSI - as high as 3.75. Usually the incidental activities not considered in computing the FSI are about 10%. As a result, the total built up area will rise to (3.75 x 1.1 = 4.125) or say 4.

Construction boom

These incentives and the buoyancy in economic situation have fuelled a large-scale construction of IT related buildings. About 50 buildings on old Mahabalipuram Road, 6 buildings in Guindy, 4 in Ambattur and about 25 buildings in other parts of the city ranging from 30,000 sft to 12 lakh sft adding up to a total of about 2 million sft are under construction.

The concept of FSI is to limit the extent of built up areas in a locality and through that the density of population in relation to the infrastructure available. Exemptions such as higher FSI for IT buildings would only strain the infrastructure if they were not accounted and planned for. What we witness in the city is an ad hoc approach and planning by exemption. This not only affects price for industrial purpose but also the residential land price. If incentives for IT parks like high FSI are one reason for high land price, the other reason is large- scale investment in real estate. Many developers from Ahmedabad, Bangalore, Hyderabad and Delhi are promoting large projects in Chennai. . This large-scale development takes the form of integrated townships. Some of them are proposed at Valasaravakkam, Sriperumbudur, GST Road,Tambaram-Velachery Road, Vandalur and Siruceri. The extent of land in such projects varies between 10 acres and 200 acres. The Government decision to open up Foreign Direct Investment and setting up of Real Estate Investment Trust has only pushed the land price to irrational level. The Securities and Exchange Board of India (SEBI) has approved the guidelines of Real Estate Mutual Fund, a scheme which has investment objective to invest directly or indirectly in real estate property.

This means further money and investment in real estate.

If the present trend continues we would shortly witness the real estate prices spiralling out of control.

If your neighbour consumes water by gallons, will you relish paying for it? The residents of this Tarnaka apartment did not. So, they came up with a new method. The bill amount crashed, water wastage drifted to zero. M. SRINIVAS finds out how.

Here is some good news for those fed up with the imbalance in the quantum of water consumption and the water bill and other maintenance charges in an apartment.

A simple device developed by Gharonda Seshasai Apartment Residents at Vijayapuri in Tarnaka, Hyderabad has brought about an amazing change in their billing. With the launch of `Individual Water Meters Project,' water shortage is history in these flats. Wastage too is minimised. And yes, the flat owners are now getting round-the-clock water supply, nothing short of a miracle!

The owners earlier used to shell out equal amounts irrespective of the volume of water consumed. This, despite using water judiciously compared to neighbours whose consumption was more. The situation only worsens during the summer with residents having to pay additional charges for summoning a water tanker from the nearest Hyderabad Metro Water Supply and Sewerage Board (HMWSSB) office.

Fed up with these problems, the flat owners led by their coordinator R. Rama Krishna developed the unique "Individual Water Meters Project." Under the project, individual pipes with meters connecting overhead tank to kitchen and bathrooms of each flat were fixed. Drinking water from the sump on ground floor will be directly pumped into the overhead tank from where it would be supplied to flats through pipes.

How it runs

The meter will start recording once a family member opens a tap. "This new method helps flat owners pay charges based on actual consumption of water. It also resulted in minimising wastage," Mr. Ramakrishna who mooted the concept said.

Earlier each flat used to get 750 litres of water during one-and-a-hour supply amounting to 36,000 litres for 56 flats in the apartment. "We are able to ensure 24-hour water supply to all the flats with the installation of separate water meters," Mr. Ramakrishna who has been residing in the apartment for seven years said. Moreover, the residents are scared to use water imprudently!

Stop at your convenience

Water supply can be stopped if residents are away from the house. "We have the facility of disconnecting water supply if anyone failed to pay the arrears," he explained. Some of the families, mostly young couples, used to pay more than Rs. 400 towards water charges, excluding maintenance charges. But they are now paying barely Rs. 66 depending upon the actual consumption of water.

"I never expected that my idea would bring such a significant metamorphosis in the colony," Mr. Ramakrishna said, adding that response was overwhelming and other residents in the Colony were planning to adopt the method in their apartments.

Mallika Ali

"We used to pay hefty charges even after using water judiciously. The new device has put an end to all our long-standing water woes in the apartment. It is also helping us reduce wastage of water. Now there is 24-hour supply."

Laxmi
"With insufficient water supply, we used to worry a lot when relatives visit our house during vacations. On certain occasions, when we had to go out, main door keys are given to our neighbours or domestic helps so that they could store water in huge utensils. Now, there is no need for that."


Rajeswari

"Though we faced some hurdles in taking-up the project, it has been implemented successfully. Some of the flat owners who earlier planned to sell their flat have deferred their idea after round-the-clock water supply is ensured in the apartment."

"When we first moved into our house, we felt out of place, as if we were in somebody else's house," says Swathy Anand, a finance analyst. A few changes were enough to make it attractive enough "even to win admiration from my friends."

She did not enlist the help of any interior designer. "I knew what I needed to do to make my home more appealing. We changed the colour of a few walls and softened the lighting and could see the difference right away," she says.

Low-cost interiors are not just for homes. Even small offices are embracing it. Manjula S., a company secretary, has this to say: "Initially, we wanted to spend a lot on interiors. But we made the place interesting for our customers and investors, spending only a little." She just bought a bunch of chic blinds for the windows and small desktop plants for each cubicle. They did wonders. "We added a few motifs on the wall later on."

V. Vinitha, interior designer, says that people can cut cost by opting for pine wood furniture instead of rose wood or teak wood. "Pine wood furniture is affordable and gives any room the same warmth as expensive varieties of rose wood and teak give."

The trend now is to have less furniture. Vinitha would suggest people to opt for minimal furniture. One could just throw a silk mat on the floor and add some square cushions in contrasting colours.

Flooring also has an important part to play. By opting for terracotta or mosaic, one can again cut down on the cost. Terracotta and mosaic are unique because of their texture. They seem a little unfinished and have a certain rawness that can be appealing to some. Maintenance is also easy.
With regard to furniture, Vinitha says that glass gives interiors a clean yet elegant look and does not cost much.

Anusha G., a housewife, says having low-cost interiors can be a project for the entire family. "When I was designing the interiors of my home, I involved even my children. We had a lot of fun, never mind that it took us more time to achieve the end result. But it was immensely satisfying."

She asked her children, Aakanksha (12) and Bhargav (7), to paint the walls of their rooms. "I gave them freedom to do what they wanted. But only after they understood that there would be no going back after that."

Overseas firms are keen to pocket a share of the burgeoning housing market in the Hyderabad city. A UAE-based firm is looking for land to build township.

With the city poised for exponential growth, foreign companies are trying to get a slice of the development cake. Projects like the Outer Ring Road and International Airport seem to hold out lot of promise for the overseas firms to set up shop here to cater to growing housing needs.
Pegasus Realty LLC, a UAE-based realty company, has set its eyes on southern India, particularly Hyderabad, for its real estate projects. The company chairman, Imtiaz Panjwani, is in the city to explore the possibilities of setting up satellite townships here. Pegasus is looking for large chunks of land - 200 acres and above - for building the townships.

The choice
Why Hyderabad? Well, all the big software companies are rooting for Hyderabad. The ORR is going to ease the traffic scene and the International Airport is another attraction. "More than this the vision of Andhra Pradesh Government is in sync with our plans," says Imtiaz. During his stay here, he plans to discuss the satellite township idea with the Government. In the next couple of years Pegasus is hopeful of the project materialising.
"Any growing city looks for small townships. And we are here to meet the demand," says Mr. Imtiaz who is from Mumbai.
Pegasus plans to bring its technical expertise in construction to Hyderabad. It boasts of an impressive portfolio of real estate offerings in high value commercial property in UAE besides development of luxurious residences worldwide. Established in 2000, this property company owns over 200 blue chip properties in all major real estate developments in Dubai.

For sale, in Malaysia
Mr. Imtiaz is in the country to market the prestigious upcoming project - Hampshire Residences - in Kuala Lumpur, Malaysia. This high end residence, which comes with all the amenities one could imagine, offers space at Rs. 6,450 per square foot. One to four bedroom apartments are now available at pre launch prices. "The apartments will have a guaranteed rental return of 10 per cent," Mr. Imtiaz assures.
He has already sold about eight apartments in Chennai and hopes to do even better in Hyderabad. "We plan to provide similar residential complexes in Hyderabad," he says.

Deal in crores!
How much does one need to cough up for this luxury apartment? Not much. Just Rs. 76 lakhs for a single bed flat, Rs. 1.10 crore for two bedded and Rs. 2.5 core for four bedded apartment. "It's a winning investment that will appreciate in value," the soft-spoken realtor adds pointing to an eye catching model of the Hampshire Residences kept at Hotel ITC Kakatiya Sheraton and Towers.
Pegasus plans to invest about Rs. 700 crores in Southern India in the next two years. It is also eyeing Chennai, Coimbatore and Vishakapatnam. "But Hyderabad will have a chunk of our portfolio," Mr. Imtiaz promises.
So, Hyderabadis get ready for some state-of-the-art high-end residences.

The concrete is made in the field under various conditions and hence testing its adequacy is vital. The property should be tested when concrete is fresh as well as hardened.

Testing in fresh state
The most common test for ascertaining the property of fresh concrete is the slump cone test to determine its workability and cohesiveness. A sample of about 20 kg of mixed concrete is taken and the slump cone mould is filled in four layers of approximately 75mm. Each layer is filled by taming 25 times using the tamping tool. The excess concrete on top is struck off. The cone mould is lifted and placed inverted by the side of the slumping fresh concrete and the difference
in level is measured. By the very nature of the fresh cone the quality of the fresh concrete is identified. A collapsing slump or a shear slump indicates that corrective measures are to be taken.

Tests on hardened state
The test on hardened concrete is conducted for ascertaining the compressive strength. The cubes should be cast on the project site under standard conditions and tested later after the elapse of specified number of days. The period allowed are usually 7 and 28 days. A sample test result consists of at least 3 specimens and the frequency of sampling should be at least 1 sample for 5 m3 of concrete. The variation of test result should not be more than 15 per cent of average. If more, the test results of the sample are to be treated as invalid.

Potpourri sachets are, by tradition, placed in clothes drawers or cupboards to perfume their contents. Sachets are easy to make, even at home, and can be filled with a mixture of dried flowers and leaves, to which you can add herbs and spices. This resulting concoction is called potpourri. The simplest sachets are those that are made with pretty handkerchiefs and are tied up with ribbon or lace. Potpourri sachets are even useful in repelling moths, leaving behind a lovely fragrance to scent your storage areas. Here’s how you can concoct at least one such mixture…
A potpourri that says it with spice and flowers:

Ingredients
A portion of dried flower petals
Citrus peel, dried and grated
1 tbsp cinnamon powder
1 tbsp ground cloves
1 tbsp crushed bay leaves
10 drops of jasmine or rose oil

Method
Place the flower petals in a jar, and add the citrus peel, spices and herbs. Mix the contents of the jar together gently. Sprinkle the essential oils on top and close the jar tightly. Shake the container every few days for the next 2 or 3 weeks until the mix has mellowed. Now put the mixture in the centre of a colourful piece of cloth and tie up the ends with some nice ribbon.

Points to ponder
Sachet ingredients are easy to collect. If you have a garden, they can be gathered all through the flowering season, as the type of flower to go into your mixture is really your choice. For the best results, pick the flowers on a bright, clear day at around noon. Another good idea would be to save the petals from the flowers of the bouquets you might receive.

m To dry out your chosen blooms, lay each flower between two layers of paper (you can use absorbent paper for fleshy flowers and waxy paper for delicate ones). Weigh them down with a heavy book or even a brick and leave them in a warm, dry place for some time. While gathering the ingredients for your sachet, keep in the mind the scents of each flower.

m Before filling the sachets, crush the petals and add several drops of an essential oil in order to fix their fragrance.