Options and their implications

An in-depth look at some of the schemes developers use to attract fence-sitters in a sluggish market.

The most popular schemes include 20:80, 10:90:10, 8:92 and 5:95 schemes. Also known as subvention schemes, buyers opting for these are only required to pay an amount equivalent to the smaller number of the ratio. The rest is funded by a bank after it has approved the borrower’s eligibility.

Equated monthly instalments (EMIs) start either on possession or after such specific period as mentioned by the developer. Registration of the property is compulsory in these cases.

In a variant of the above scheme, clients pay 5-10% of their own funds, and the financial institutions lends up to 70% of the amount, which is construction-linked. The balance 20% is contributed by the buyer, but EMIs start immediately upon disbursement of the loan. These schemes have been popular since the time of their introduction across Mumbai and its extended suburbs. They remain a good selling tactic for developers; more so in areas with an over-supply of units in affordable projects. These schemes are particularly attractive to end users, have been quite successful in swinging irresolute buyers towards a purchase commitment. Most projects offer these schemes in the pre-launch or launch stages, and they are a good way for developers to raise money for construction.

Insight: What buyers need to know while opting for such schemes is that in these, most developers charge higher per square feet (psf) prices compared to the rates offered in construction-linked payment schemes. This is because the developers need to pay interest to banks, and therefore charge customers a premium to compensate for this.

Without funding variant
A variation of these subvention schemes is the 20:80 scheme without bank funding. In this, a buyer needs to pay 19.9% of the total contribution, and will pay the balance 80% on possession or after such specific period as mentioned by the developer. Registration may or may not be compulsory in these projects. This scheme appeals to investors and buyers not requiring bank loans. It is popular with home buyers in premium projects or locations like South Mumbai, who do not need bank financing to buy their properties. It makes good sense for them to book and secure a property under this scheme, which would not be available by the time the project reaches completion. They can also expect appreciation in prices by the time of possession.

Interest waiver for 12/24 months
In this scheme, buyers get a waiver of EMIs for the stated number of months (12/ 24/ 36/ 48), subject to the loan tenure. A bank loan and registration of the property is compulsory under this scheme.

Insight: This scheme should be studied closely by buyers – in particular, the interest rates applicable after the interest waiver period must be ascertained. If the bank charges higher than normal interest rates after the waiver period, customers should ideally not opt for this scheme unless it for some reason fits in with their own financial planning.

Lower interest rate for 2-3 years
Buyers opting to book a flat under this scheme get a reduction in interest rate for two to three years. The interest rate on a housing loan is lower at 7.99%, for a specific period as offered by the developer under this scheme, as against the normal prevailing market interest rate. A bank loan and registration are compulsory.

Insight: Again, buyers need to ascertain the interest rates applicable after the two-three year period. The catch here is that the banks could charge at prevalent market rates after the initial period. This may inflate the EMIs far higher than the borrower expected.

Guaranteed rentals for 2-3 years
The USP of this scheme is that developers offer guaranteed rentals for two to three years, either until possession or post-possession. This is a scheme meant to attract investors who are on the market for income-generating assets that they will not occupy themselves.

Insight: Only few builders offer this and it has been noted that the lump-sum amount of 24-36 monthly rentals is actually a discount that the developers give to their customers. In fact, this is an interesting example of how developers disguise discounts.

Apart from these schemes, developers are also seen offering waivers on floor rise price and stamp duty as well as registration cost for limited periods.

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Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
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New ready reckoner rates to be released on March 31

From April 1, ready reckoner (RR) rates for different properties in Mumbai have increased by an average of 7% compared with 15% in the previous year. Considering that the annual hike is usually around 12% to 17%, this is the lowest hike since 2010, according to revenue department sources. The RR rates directly affect property prices as the buyer as well as the seller have to pay a stamp duty based on these rates. The new RR was announced by the state government on March 30.

In the grim market scenario, lack of affordable housing stock and the impending water crisis, the government was expected to go in for a moderate hike this year.

In Navi Mumbai and Mira-Bhayander, the RR rate will increase 4% each while in Thane and Pune, these will rise 6% each. In Kalyan-Dombivli, the hike is 5%.

For the state, the stamp duty on registration of properties is the second highest source of revenue after sales tax. It is calculated on the RR or the market value of the property (the built-up area) and the buyer has to pay whichever is higher. The government earns up to Rs 20,000 crore annually through stamp duty and registration fee.

The RR is the base rate of property decided by the government, which determines the stamp duty and registration charges in course of property transactions. While stamp duty is charged at 5% of the RR or the market value, whichever is more, registration charge is 1% of the total property value since 2015. Earlier, the registration charge used to be fixed at Rs 25,000 per transaction on residential properties. This time, though, there appears to be no change in the registration fees.

Every year, the new RR rates are implemented from January 1. As the real estate market is currently stagnant, though, builders had recently urged the government to postpone the announcement.

The RR value varies from city to city and area to area and the location. For instance, if a property abuts the sea in Bandra West, it would have a higher RR value than the one located in Bandra East. If the RR value is higher than the agreement value of the property deal, then the stamp duty is charged on the RR value. And if the market value is higher than the agreement value and the RR is less than the agreed cost, then the stamp duty is charged on the property's market value. In the current scenario, a 1,000-square-foot flat in Cuffe Parade is priced around Rs 5 crore whereas in Bandra, it would come to about Rs 4 crore. In Borivli, the value is up to Rs 2 crore.

There are 737 RR value zones in Mumbai region and more than 26,277 in the state such zones. Different RR values are derived based on the demand for properties over the past several years in a particular area. The rates, though, are uniform in that particular area or ward demarcated under value zones.

If the property is close to the shore, the RR value is higher. Whereas if the property is close to a garbage dump or a drain or nullah, the RR value is comparatively lower. For instance, for a Rs 2 crore property in Goregaon, the stamp duty would be 5% or around Rs 10 lakh. But as the ready reckoner value goes up in tune with the market demand, the stamp duty value also rises, affecting buyers. Since builders have to pay income tax on a difference between commercial value and the RR value, such a rise affects them too.

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Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
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PRIME CENTRAL THANE: A Great Metamorphosis that Mumbai is Watching in Anticipation

Thane, home to over 12 million residents, today has emerged as a city with its own distinct charac ter and economic drivers, includ ing large businesses that have created demand for quality residential developments. With the emergence of planned developments fast becoming a rarity in the congested metropolitan blueprint, Thane has emerged as a preferred residential location in recent years.

Easy connectivity, infrastructural promise and spatial bandwidth with the emergence of mini-commercial districts; retail hubs; medical, school and entertainment hubs have made this micro-market a planned and quality option for home-seekers.

Thane is divided into 10 sectors in its development plan. Geographically at the center, Sector 5 comprising of Kolshet and Balkum, is now at the forefront of Thane's meteoric rise due to its centrality, enviable access to a great social infrastructure and superb connectivity. Located between east and west Thane, this belt is aptly called `Prime Central Thane' and is synonymous with great malls, large multiplexes, multispecialty hospitals, schools and branded residential neighbourhoods.

Prime Central Thane is also home to acres of greens, thus resulting in superior air quality (lower Air Quality Index). The region has one of the best AQI figures when compared to other parts of Mumbai. An urban oasis in its true sense, Prime Central Thane has become the driving force behind Thane's realty market. Not surprisingly, Thane is rated as the No. 1 investment hotspot by CII-JLL and Prime Central Thane is slated to earn 60 per cent appreciation by 2020, according to Knight Frank Report 2015, riding on the phenomenal infrastructure growth and commercial and employment expansion.

IMPROVING INFRASTRUCTURE CONNECTING THANE TO ALL PARTS OF MUMBAI
Infrastructure facilities have improved in the past few years with the construction of SATIS (Station Area Traffic Improvement Scheme) and multiple new flyovers on Ghodbunder Road. The three flyovers and one upcoming flyover in Thane, will help ease the overall vehicular traffic. Thane is well-connected to the eastern suburbs by the Eastern Express Highway and to the western suburbs. The city also has connectivity to Navi Mumbai by both, trains and roads. Connected via three major highways, including NH3, NH4 and Eastern and Western Express Highways, the city is being equipped with superior infrastructure such as subways, flyovers that will boost the infrastructure of Thane. The metro project (by the MMRDA) that aims to connect Ghatkopar to Ghodbunder Road and then Dahisar, will also improve connectivity between Thane and the western suburbs.

A few salient points:

• Wadala Ghatkopar Metro line to be ex tended to Teen Haath Naka and Kasarwa davali near GB Road.
• Thane-Borivali tunnel, scheduled to com plete by 2019, will revolutionise connec tivity and bring down this distance to less than ten minutes.
• Thane-Bhiwandi-Kalyan Corridor.
• Elevated High Capacity Mass Transit Route (HCMTR), thus leading to equi table distribution of road traffic through Thane.
• A large proposed infrastructure develop ment including tourism and water proj ects in Prime Central Thane.

EXISTING HIGH-CLASS SOCIAL INFRASTRUCTURE
Thane has the presence of six malls, a number of schools and colleges such as St John High School, Smt Sulochanadevi Singhania High School and many others. Lodha World School also has a centre in Thane. Jupiter and Bethany, both private multi-specialty hospitals, address the medical needs of the city.

COMMERCIAL SUPPORTS RESIDENTIAL GROWTH
Many state-of-the-art commercial complexes, especially IT companies, have also set base here. Industrial areas such as Wagle Estate, where some of the biggest national and international BPOs KPOs have moved their operations into newly launched ITITeS parks, are promising as well.

Considering the city's potential, many entrepreneurs are shifting to Thane, choos ing relatively more affordable commercial and residential real estate, which in turn is generating more employment opportunities within the city people in effect, don't need to commute painstakingly, to other places a resounding example of the `walkto-work' culture.

Interestingly, TCS has recently concluded a deal to lease 2 mn sq ft of office space which will bring over 30,000 jobs to Thane.Developers responded quickly to the increasing demand by launching more and more projects in the city. Today, the developer representation in Thane is impressive.Developers like Lodha Group the leading real estate developer in the country, understood the great potential of key catchments like Majiwada, Kolshet and Ghodbunder Road early on and now, the Group's towering presence in this region is unchallenged, with its projects consistently outperforming the market in terms of capital appreciation as well as rental yields.

CONCLUSION
With so much going for it, it's no surprise that Thane is considered to be the No.1 investment hotspot. All the economic indicators too show that the capital appreciation seen by Thane over the last few years, is only the tip of the iceberg, with its current potential being multi-fold. To top it off, it has the highest projected rental appreciation as well. The long-term future for property in Thane is excellent. While this area remains among the more affordable ones around Mumbai, there will be a steady rise in rates as development catches up with the planning and existing supply is absorbed by buyers.

To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org

Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

Retail sector can be a game-changer for the real estate industry

With the Union Budget 2016 setting the tone for the year ahead, the realty sector is optimistic that the reforms and announcements introduced will bear positive results and the sector will finally trudge along in the fourth gear. The biggest take away from the previous year was the performance of the commercial sector, which brought cheer for the real estate market. Hence, experts are hoping that the golden period of the commercial sector will continue this year as well.

The commercial real estate market comprises of office, retail and industrial segments. As we know, the IT/ITeS sector is a major occupier of office space in India and the government is taking significant measures to promote growth of the manufacturing sector as well. But the retail industry is not lagging far behind and can contribute towards this endeavour. Evolving consumer spending patterns and increasing disposable income levels, are redefining the country's retail landscape. The market has become very dynamic in nature, with the industry stalwarts not only exploring new micro-markets but also reinventing themselves to keep up with the pace of growth in the sector.

Mapping the growth tale:
According to Sunil Shroff, CEO, Viviana Mall, three have defined the key factors that have defined the growth story of the retail sector in the last five years are the growing young population; a significant rise in the working population and an increase in the income and purchasing power. "The retail industry has also benefited due to liberalisation in the FDI policy, which in turn, has attracted international and global premium brands, thereby boosting the retail sector," Shroff adds.

Experts are optimistic and feel India's retail market is expected to grow manifold in the next five years and with the right support from the government, modern retail will move up the growth curve.

The modern retail market size in the MMR is also expected to grow at a CAGR of 23 percent, according to a report, 'Think India. Think Retail 2016', launched by Knight Frank India in association with Retailers Association of India (RAI).

"With the simultaneous growth in quality real estate and infrastructure, the Indian retail sector can prove to be a game-changer if developed in a planned manner, thus making it more competitive and organised," says Rubi Arya, executive vice-chairman, Milestone Capital Advisors Limited.

Trial and error:
However, all has not been hunky-dory for the retail sector. Another significant highlight of the report was as of December 2015, the MMR had 33 operational malls and almost an equal number of malls have also shut down over the last two years. "The growth rate today however has stabilised and the malls, which have been doing consistently well for the last few years, continue to attract more footfalls with new brands tapping into the market," points out Nirzar Jain, vice-president, Oberoi Mall. However, has this trend impacted the realty market adjoining the malls? Experts feel that property prices depend on numerous parameters like basic infrastructure, connectivity to the local transport spots, other social requirements, etc. The presence of malls and other retail zones is an added advantage to the buyer but there is no direct impact on property prices, except maybe rentals from such units, which will be higher.

The Indian retail sector has been undergoing structural changes for the last two decades and one of its significant achievements has been the robust growth in the e-tail sector. When the retail wave hit our country, the brick-and mortar sector had taken a backseat.Traditional retailers have repositioned.

Looking ahead:
A strong public infrastructure is the backbone of the retail industry. Hence, it is imperative that the retail sector is developed in line with the infrastructural development, in order to ensure equilibrium, especially in the urban areas. "I personally feel that the government should promote integrated townships in a big city like Mumbai. Spanning hundreds of acres, this master plan will include independent houses, apartments, offices, shopping malls, cinemas, schools, hospitals and all other facilities that will make life easy for Mumbaikars,“ says Gulam Zia, executive director advisory, retail and hospitality, Knight Frank India. While the housing sector alone contributes approximately 5 to 6 percent to the country's GDP, the other sub-sectors like commercial, hospitality sector, retail and others have also grown in parallel. The need of the hour is to develop each industry in a planned manner and themselves today. The price differentiator was the major point of contention between the online retailers and conventional retailers and over the years, we have tried to bring it down. Besides, the focus today is on customer satisfaction and creating an experiential market. The instant gratification of leaving a store with a purchase in-hand is unmatched and hence, the attempt is in order to achieve just that," says Anand Sundaram, CEO, Pioneer Property Zone.

Experts feel that it is imperative to note that in an economy consisting of over 400 million internet users, four out of five consumers have never shopped online; hence, the availability of traditional outlets is a must.

"However, the e-tailing business has a direct impact on the commercial real estate space, due to large commercial offices and warehouses being leased rapidly across tier-I and II towns. Mumbai is looking towards a commercial leasing boom as more and more e-tailing businesses (products, payment gateways and logistics), are forming the bulk of such demand," points out Arya.

To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org

Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

Buying a Flat on the Basis of the Carpet Area

It's a known fact that there isn't any universally accepted method for property calculation. But experts point out that buying a flat on the basis of the carpet area is a wise move. After all, the carpet area is the actual space that a buyer is going to use, right?

The relationship between a builder and home-buyer is indeed a complex one. There is always a bone of contention between the two during a real estate transaction and one of the major areas of concern is the `carpet area'. Carpet area, in proportion to the super builtup area or saleable area, is something that has been a reason of discord between the builder and home-buyer. Apprehensions pertaining to the size of the carpet area have always plagued homebuyers' minds. In terms of the consumer complaints, this reason is the most popular one than any other for which a home-buyer locks horns with the builder in the court of law. After all, carpet area is the space that a homeowner is going to use. In a market, where home-buyer education is not much in public discourse, the understanding about carpet area, covered area including the internal walls, built-up area and super built-up area, is pretty confusing. Now, speaking from the real estate standpoint, there cannot be a standard definition of the percentage of loading in the name of the super built-up area. This is because the super built-up area is subject to many variables, including the FSI norms, amenities on offer and others.Most of the analysts are struggling worldwide to suggest an industry-accepted method of property calculation.

A LEVEL-PLAYING FIELD
The developers in Mumbai, striving to come out of the slowdown, have taken the challenge upfront, as far as consumer complaints and perception management are concerned. As a result, they are now selling on the basis of carpet area. A home-buyer can actually measure his carpet area that the developer is promising. This may not reduce the loading share per se but at least puts to rest, the other apprehensions w.r.t what the buyer will get in terms of usable space.

It is a new trend that has emerged where the developers are selling as per the carpet area in Mumbai. However, one is following the guidelines of the gov ernment, which has advised real estate developers to sell as per the carpet area. per the carpet area.

The loading factor is not completely absolved by this. Developers are taking into consideration the total cost before finalising the per sq ft pricing of the apartment, prior to initiating sales under the carpet area. Defining the carpet area and selling real estate as per the carpet area, make a great difference to the customer as well as the real estate developer. Selling on carpet area by all or a majority of developers has strengthened the trust and confidence levels between the real estate developer and his customers

The developers are selling only on carpet area today, due to the rules and regulations. Yes, the selling rates go higher in terms of carpet area but ultimately the ticket size remains the same.

Selling on the carpet area does not, in any way, absolve the loading factor but defining the carpet area and ticket size makes a lot of differ ence as far as the trust factor towards the developer is con cerned. It is always good to declare the carpet area at the very first go, so that the client is aware about the value against the actual size of the flat

There are many reasons to be lieve that selling on carpet area helps the sector in its quest for an image makeover. It kills the possibility of a mismatch between expectations and delivery; the buyer knows beforehand the amount that one has to pay and the actual size that one is getting; it reduces the chances of litigations; and the practice overall, helps in the perception management of the sector.

To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org
 

Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

Home-purchase process for single women

If you ask a married woman what her dream home would be like, there is a possibility she would say, "I'd like it to be spacious away from the hustle and bustle of the city wherein my family and kids can thrive happily." It seems ideal, isn't it?

Well, sceptics may say that it appears ideal if the woman has a family, but what if she's single out of choice and harbours the same dream? According to data from the National Association of Realtors, around 25 percent of home-buyers are working women, and 16 percent of home buying women are single. But there are several roadblocks that single women (working or otherwise) have to overcome, especially on the financial front. It appears currently that the presence of a significant other has the ability to make or break a woman's purchase decision. And that is a subject of much concern.

Deepali Shinde, unit head, Mahila Awas Loan Division (MALA), Aspire Home Finance Corporation Limited (AHFCL), says, "Today, the Indian housing finance industry needs to gear itself for an emerging customer segment ­ the single working woman. By 2020, 87 million more women will be employed in the mainstream economy working across sectors of private and public organisations of corporate India. Additionally, this segment is further expanding as the gamut of single women also includes separated/divorced/widowed women."

Adding to this, Shinde says, "It has been a general mindset, which, at most of the times, is not backed by any solid data. It is believed that as home purchase requires a substantial amount of money, it may not be possible for a single woman to serve the repayment throughout the loan tenure. Hence, there is an insistence of a co-applicant or guarantor in the home loan application made by single women."

Ajay Jain, head of real estate, Centrum, feels, "In India, it is seen that bankers are cautious when providing home loans to women. This is true for a housewife, wealthy High net worth Individual or even a salaried employee. Bankers get comfortable only when there is a visible three-five year consistent cash flow, which may not be applicable to high net worth women or housewives." This trend is largely practiced only in India, as internationally, banks generally lend mortgage loan against a property and do not ask for personal guarantee co-borrower additional security.

Vijay Agrawal, executive director, Equirus Capital, seconds and adds, "In India, it has become a general practice to ask for additional security. And, if it's a woman who is applying for a loan, banks tend to ask her to be accompanied by a co-borrower. And this is indeed a bias."

Unfortunately, there is a sense of fear that lenders harbour and worry that a salaried woman might quit her job to pursue other duties like marriage or raising a baby. However, the trend in urban cities is changing and women are almost at par with men, but it will take a while to alter the mindset of people. Madhuri Sen, MD and VP India, WE Communications, who bought a home in Mumbai shares, "There seems to be this assumption that if you are 'married' or a 'family person', you are by default, a moral and law-abiding member of the society and if single, then the default assumption is that you are most likely not. It is this mindset that needs to change."

She further points out, "Well, in my case, I have seen that applying for a home loan wasn't much of a menace. Infact, banks don't care if you are a single woman or otherwise. All they care about is your CIBIL rating if your income, after expenses including liabilities and other loans, is adequate to service the loans and if your source of income is foreseeably stable, you get the loan. However, it is a different matter altogether, when it comes to finding a house. Many buildings societies frown upon single women and seem to be more hesitant to give a NOC, a necessary requirement to complete the purchase as well as get the final loan disbursement."

However, Maneesh Srivastava, chief executive officer, Muthoot Housing Finance Company Ltd, points out, "This issue has been addressed to a large extent. The government of India now runs special schemes where loans are given at concessional rates to women borrowers. Some states have reduced the stamp duty and registration charges where a woman is the primary borrower. Even with lenders, the attitude is changing where if a woman is able to support a loan on her own income, there is normally no requirement for another applicant. At times where this is the case for risk-related reasons, the treatment lent is same as for a single male borrower too."

While there have been some amendments with respect to this bias, a lot still needs to be done. We wonder, if ever a day would come when a single woman would walk into a bank and avail a home loan without any issues, for her dream abode.

To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org
 

Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

How 'affordable' is affordable housing?

In the last decade, there has clearly been a shift on the part of the real estate builders and developers towards the soaring middle class population. Increasing bank loans have aided the situation. To help change the scenario, in the Union Budget 2016, we all know that the government announced a 100 percent deduction for profits to housing projects building homes upto 30 sq mts in the four metros and 60 sq mts in other cities. The sentiments have been upbeat since its announcement a few days ago.

The Finance Minister also said that the construction of affordable houses upto 60 sq mts under any scheme of the central or state government including PPP schemes would be exempted from service tax. First-time buyers will get a deduction of Rs 50,000 per annum, for loans upto Rs 35 lakh sanctioned in 2016-17, where the house cost does not exceed Rs 50 lakh. Over the last few years, though the government has been speaking about various initiatives to build affordable houses, there have not been too many affordable houses. Affordable housing can be defined using three key parameters such as income level; size of the dwelling unit and affordability, according to a recent report by KPMG. In that case, how sustainable is the government's plan?

What seems like a policy to help the low-income group households could definitely bode well in the future, provided it is implemented properly, according to experts. Samantak Das, chief economist at Knight Frank India, says, "This move would help the construction companies and builders, who in turn, could bring down prices to benefit the consumers. There would be more constructions in tier-II cities."

With this policy, a lot of social-rent houses, which are typically houses rented out by local authorities or rich landlords at half the market rent would be replaced more by affordable houses.

"It's a win-win situation for both the parties developers and consumers. The bridge between higher demand and lower supply will soon get built," says Shubhranshu Pani, managing director infrastructure services at Jones Lang La Salle India.

It is clear though that boosting the supply of affordable homes to buy might lead to a messy distributional scene. There could soon be a situation where in the middle-class pools in money to buy, say, two adjacent small apartments, at a lower price. "There has to be a clearer agenda to provide houses to the low-income group at a lower value, which might be grabbed very easily by the middle class," concludes Pranay Vakil, chairman of Praron Consultancy. The government is making a persuasive blueprint for this multipronged strategy for building a more affordable India through greater engagement and intensity. This move is bringing a sigh of relief among a lot of people, for whom living itself is a burden.

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Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com