City Areas Look Ceaner After Residents Give Up On Plastic

Thane : Citizen activists of Thane city claim that 20 per cent of the streets and public places in the city look much cleaner thanks to the drop in plastic materials. 

The nullahs are getting lesser choked as earlier the plastic waste would pollute city nullahs and street sides. 

While most admit that much needs to be done to achieve the goal of a plastic-free city, city activists believe that the mindset of citizens is slowly changing and the city is on the right track with regards to ban on plastic. 

Dr Mahesh Bedekar, a resident, said, "I have noticed that every person agrees with the plastic ban and there is a feeling of responsibility towards the future of the city. The change may not happen immediately and will take time, but it will happen. I can say safely that at least 20 per cent of the streets and public places across the city are cleaner and livelier thanks to the ban on plastic. If there is continuous awareness, even a single person can help change the mindset of four others: 

Despite the heavy rains that lashed the city in July, the nullahs in Kalwa did not clog, which otherwise would have due to heaps of plastic carry bags being dumped rampantly by residents. 

A civic official from the Kalwa ward, said, "Since the government has banned plastic there has hardly been any littering in the nullahs and drains. After we had conducted our annual pre-monsoon nullah-cleaning drive we went back for a visit to some of the drains. We were surprised to see that the plastic waste thrown has reduced by a considerable amount." 

While citizens of Thane and its neighbouring suburbs are breathing a clearer air than a few months ago, the ones in Diva are facing a tough time as the banned material is still being carelessly dumped in the drains on a regular basis. 

"When the civic administration had conducted raids at numerous shops in the city initially as the ban kicked in, citizens were scared and had stopped using polythene bags. Sadly then the bureaucracy neglected our area and things resumed back to normal. Our drains are flooded with plastic wrappers, polythene bags, bottles, etc openly being used by the residents," said Adesh Bhagat, a Diva resident. 

However, in some slum areas of the city the situation is slightly bad as the dwellers are forced to throw their waste in the drains claiming that there is no regular waste collection by the civic administration. 

"As the civic body garbage vans do not regularly visit our areas, we are forced to throw waste from our homes in the drains. We know that this is a bad practice and that we are prone to diseases due to this, but how long can we keep the waste accumulated in our homes? We anyway have space crunch and the civic body has been neglecting slum areas. Garbage collection in our areas is not regular which is why drains here will get choked as we have no other source of waste disposal: said Lakshmi Bhandari, a slum deweller from Majiwada. 

I have noticed that every person agrees with the plastic ban and there is a feeling of responsibility towards the future of the city

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Source: timesofindia.indiatimes.com

HDFC Raises Lending Rate by 20 Basis Points

Mumbai : Housing Development and Finance Corp (HDFC) on August 2, announced increasing its lending rates by 0.20 percentage points, a day after the RBI hiked the policy rate. "HDFC has increased its Retail Prime Lending Rate (RPLR), on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 20 basis points, with effect from August 1, 2018," the country's largest mortgage lender said in a regulatory filing. 

For women borrowers, loans up to Rs 30 lakh will be available at 8.70 % and above Rs 30 lakh at 8.8 %. 

For other customers, the rate will be 5 basis points extra. 

In its third bi-monthly monetary policy statement for 2018-19, the Reserve Bank increased the short-term lending rate by 25 basis points to 6.50 percent on inflationary concerns. 

HDFC's shares closed at Rs 1,932.65 apiece on the BSE, down 1.9 percent.

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Source: content.magicbricks.com

Green revolution: Thane district surpasses plantation target

August 02, 2018

THANE: With an outstanding 35.7 lakh successful tree plantations across the district in the span of a month, Thane district has not only achieved its target, but surpassed it manifold in the state wide 13 crore mega tree plantation drive, which ended on Tuesday

As part of this three-year-old annual afforestation campaign, which aims to increase the state’s green cover by 13 crore trees this year, the district was given a target of 33,52,370 plantations to be carried out during the one-month span from July 1 to July 31.

“We had received a target of 33 lakh, but had a feeling that we would surpass it because of the overwhelming response. While a little over 30.7 lakh of these plantations were pre-registered on our website, the remaining were added to the total after the citizens submitted the geo-tagged details of the unregistered plantations they had undertaken in their areas. This digital process ensures no dual counting,” said Dr Jitendra Ramgaokar, deputy chief conservator of forests (Thane).

While the drive is now through, officials have already started chalking out their plan to maintain this added green cover and are urging citizens who have participated in the drive to look after their saplings regularly.

“A large chunk of the seedlings and saplings planted by the forest department has been conducted in green zones and forest areas. We have chalked out a five-year plan for their maintenance so far and hope that other government office departments and organisations do so as well,” added Dr Ramgaokar.

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Source: timesofindia.indiatimes.com

Builders Need to Speak up their Concerns : Deepak Parekh, HDFC Group

Mumbai : In a blunt message to realty developers complaining about approval delays, industry leader Deepak Parekh has said most of them are reluctant to share information about the affected projects for fear of backlash by local authorities even when the Prime Minister's Office has sought details to remove the bottlenecks. 

Recalling a recent meeting he and other business leaders had with Prime Minister Narendra Modi, the eminent banker said, "He (Modi) met with various business heads and asked how things could be improved and as predictable as I am, I mentioned the need for faster building approvals". 

"His office (PMO) followed up after the meeting and requested me to collate a list of specific projects where building approvals were being delayed. 

"When I reached out to developers to get these details, I was taken aback that most were reluctant to share this information for fear of a backlash by the local authorities," said Parekh, who heads the country's biggest financial conglomerate HDFC Group. 

Addressing an event of the real estate industry body Credai-MCHI (Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry), Parekh said he was raising an uncomfortable issue, but "we do need to be honest with ourselves if we want to see improvements". 

He also said the impasse strengthens the case to have a single window for approvals and therefore there was a need to change the way approvals are given. 

"World over, architects self-certify that construction has been in accordance with the approved building plans. We can have strict laws which will revoke the licenses of architects if deviations are found," he said. 

Parekh said builders have always complained about inordinate delays and cumbersome processes in obtaining building approvals that result in time and cost overruns and it is the ultimate homebuyer who bears the burden. 

"When this issue is raised with the local authorities, they say delays are not at their end," he added. 

Parekh, known for his outspoken views on policy and corporate matters, also said that the GST (Goods and Services Tax) being levied on under-construction properties is "a pain point" for real estate developers. 

But, one must appreciate that GST issues are constantly being reviewed and attempts are regularly being made to iron out various issues and this should be the case with GST on real estate as well, he added. 

"There has already been a recognition of the need to have a lower GST rate for affordable housing projects. Yet, there remains lack of clarity on input tax credit, abatement of land values and anti-profiteering provisions. 

"The other issue is that stamp duty and registration charges are not subsumed with the GST. And of course, the proposal to levy a surcharge on stamp duty has got developers worried again," he said. 

Parekh said developers fear the additional surcharge to be a further dampener for a fragile real estate market and an increased burden for homebuyers, but the flip side of the argument is that additional resources are needed in order to generate funds for big ticket infrastructure projects in the city. 

Stating that both arguments are valid, Parekh favoured a middle-path and suggested steps to make housing more affordable and to improve the ease of doing business. 

Parekh maintained that he has never been as optimistic as he is currently as the central government has been at the forefront, having taken several measures to boost the housing sector. 

Terming the real estate industry as being one of the most resilient sectors, he said most developers would still throw a long list of woes -- demonetisation, GST, RERA, rising interest rates, tighter liquidity conditions, slower sales, and stagnant real estate prices. 

"No doubt, these are challenging times. The traditional business model of developers has been disrupted and as a result, there is a weeding out process going on where weaker developers will either have to partner with stronger ones to survive or they may eventually have to bow out," he added. 

Parekh stressed on the need for real estate companies to adapt to new institutional and structural reforms and said they must remember that any sector or business runs efficiently as long as there is trust. Conversely, there is trouble and red flags get raised when mistrust sets in, he added. 

"The flurry of reforms in the real estate sector was to help restore that trust," he said. 

Parekh said the current piecemeal approach of seeking approvals at different stages from different authorities needs to change, especially when some processes are "unduly cumbersome". 

"With the strides that the government has made on digitisation, integrating these approvals to one platform can be easily done. Once approvals are online, timelines can be transparently monitored." 

"If affordable housing is the key priority, then why can't at least approvals for residential affordable housing units be fast tracked?" he said.

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Source: content.magicbricks.com

Get your home monsoon ready

July 2018

How can home owners ensure that their homes are ready for the rains and ensure that it does not cause any harm to the safety and beauty of the home? We offer some suggestions

While the arrival of the monsoon season may bring relief to many, after the sweltering heat of summer, it is also the time to prepare and protect the home. Leakages not only damage the look of the home but can also spoil the interiors, including furniture and furnishing. Home owners, hence, should check for the smallest signs of damage and take prompt action, to ensure that the problem does not become uncontrollable.

Credits : freepik.com

Water-proof your home

Water-proofing protects the structure from extreme rainfall and also saves on repair cost and hassle, in terms of breakage and weakening of the the structure.

Water seepage and dampness can also pose serious health hazards, as dampness and cracks lead to the growth of fungus, moulds and algae. Dampness can cause home owners to develop allergic reactions, asthma, irritations in the nose, eyes and throat and other respiratory ailments, cautions Sanjay Bahadur, global CEO, construction chemical division, Pidilite Industries Ltd. These problems can be avoided, if a little precaution is taken. “Different surfaces are exposed to diverse challenges. Hence each surface needs the right kind of water-proofing. Merely water-proofing the roof, is not enough to ensure a leak-free home. The home will be fully protected, only when all five possible areas for water entry – below the ground, internal wet areas (bathroom, kitchens and balconies), roof, concrete water tanks and exterior walls – are properly water-proofed. All broken plasters and cracks should also be repaired,” adds Bahadur.

Check the surrounding area of the building

Prior to the monsoon, also check the surrounding area of the building compound, or the garden area of the bungalow. “Check if any tree branches in the garden or terrace are weak and need trimming, lest they give way in a heavy downpour and cause damage. Make sure that the drainage in the house or even outside the villa is checked for blockages. Metal doors, frames and grills of windows and balconies should, ideally, be given a coat of paint before the monsoon, to prevent rusting and corrosion,” says Prachi Chavarkar, co-founder of ArchiLab Designs. 

“Water and electricity is a dangerous combination. For outdoor usage, opt for electrical switches and lights that are designed for external usage. Also, get an electrician to check all the connections before the rains, to avoid chances of electric shock or short-circuit,” adds Chavarkar.

Keep the home pest-free

Puddles and stagnant water are common during the monsoons. As mosquitoes breed in stagnant water, one should keep areas like air-conditioner ducts, drains, trays beneath potted plants, etc., clean and dry. Clean the terrace and rainwater drainage pipes of dried leaves, so that water can flow easily and not stagnate. Before laying a carpet on the floor, ensure that the floor is completely dry. Alternatively, roll them up and store them away for the season. Vacuum and air them well and keep camphor balls along with the carpets, before putting them away.

“It is better to do a pest control treatment before the monsoon, so that all the hidden worms and bugs are eradicated from the house. Use antibacterial fluids for mopping the floors, as dampness can encourage the growth of bacteria and termites. Opt for a cleaning agent, which is designed to keep bugs away. Indoor plants not only add to the moisture level in the house but also house insects. Hence, keep potted plants outside during this season,” says Shantanu Garg, founder and creative director of Shantanu Garg Designs.

Caring for furniture and accessories during the monsoon

When cleaning furniture, avoid using a wet cloth and instead, replace it with a dry cloth. “All leather bags, belts and shoes should be kept in cotton or muslin bags, as this will keep them new. Also, instead of placing footwear directly on the shelf, place a newspaper first and then, keep the shoes on it. This will keep the shoe rack clean,” adds Garg.

Home maintenance tips for the rainy season

• To get rid of the damp moist smell in the rainy season, use scented candles and burning oils.
• Ensure that the clothes are completely dry, before keeping it in the wardrobes. Keep silica gel pouches in cupboards or between clothes, to soak up the moisture and prevent the growth of fungus. Also, put some dried neem leaves (not on the clothes) or naphthalene balls in the cupboard, to keep fungus and mildew away.
• Keep the kitchen area dry. When cleaning the cabinets, keep them open for some time to prevent bad odours and moisture from being trapped inside.
• Install metal canopies and shades over windows and balconies, to prevent water from coming in.
• Place a small bucket near the main door, to keep wet umbrellas. Allow the umbrella to dry, before keeping it back in its place inside the house.
• Light a few pieces of camphor in a diffuser as camphor is an effective mosquito repellant.

Also read: NRIs, In Whose Care Is Your Property?

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Source: housing.com

Benefits of buying a home in the wife’s name

June 2018

With several states in India offering benefits for women property buyers to boost their empowerment, we examine why it makes financial sense to register a property in a woman’s name

There are several benefits to buying a property in a woman’s name, either as the sole owner or as a joint owner, with governments and banks offering several sops.

“Aspiring home buyers can seek certain benefits including tax exemptions if a home is bought in a woman’s name. Such offers can also attract more women buyers to the realty sector,” points out Ashok Mohanani, CMD, Ekta World. Encouraging women to register assets in their name, also boosts women’s empowerment, he adds.

Credits : freepik.com

Tax benefits

Experts explain that some of the obvious tax benefits of buying a home in the wife’s name, include an extra deduction of interest up to Rs 1.5 lakh every financial year, if the house is self-occupied. If a husband and wife are the joint owners of a property and if the wife has a separate source of income, then they can both claim tax deductions individually. The tax benefit will depend on the ownership share of each co-owner.

Discount on stamp duty charges

Several state governments in north India are now offering a partial waiver on stamp duty, for buyers registering properties in a woman’s name – either as a sole owner or as a joint owner.

“You can save 1%-2% on stamp duty, if the property is in a lady’s name. In Delhi, the stamp duty rate is 4% for women, compared to 6% for men. Moreover, if you are undergoing some financial setback and have some debts to repay, the property held in your wife’s name, does not come under the cover for your loss,” points out Sushil Raheja, CEO of Raheja Homes Builders & Developers..

Stamp duty charges for Women Vs Men

State/UT	For Women	For Men
Delhi	4%	6%
Haryanat	4% in rural areas and 6% in urban areas	6% in rural areas and 8% in urban areas
Rajasthan	4%*	5%

* As 1% rebate over normal rate

Discount on home loan interest rates

Many banks like SBI, ICICI and HDFC Bank, offer discounted rates on home loans for women borrowers. The prevailing interest rates for women borrowers are as mentioned below:

Interest rate for woman borrower Vs others

Bank	Interest for Women borrower	Interest Rate for others
SBI	8.35 – 8.85%	8.4 – 8.95%
ICICI	8.35 – 8.7%	8.4 – 8.85%
HDFC Ltd	8.35 – 9.05%	8.4 – 9.05%

Note: Rate as on June 20, 2018 (For loan amount < Rs one crore)

Things to keep in mind when buying a home in the wife’s name

Experts maintain that it is a good idea to buy a home in the name of one’s wife or in co-ownership. However, the wife can enjoy the tax benefit, only if she has a separate and genuine source of income. Moreover, if there is any legal dispute on the property, then both, the husband and wife, will be involved in the case. Therefore, home buyers should evaluate all possibilities, before making a final decision.

Also read: Real estate sale deed: Terms and conditions that home buyers should be aware of

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Source: housing.com

Home financing options for NRI buyers

June 2018

Besides regulations for the type of properties that NRIs can purchase in India, legal provisions also exist on the mode through which these purchases can be financed

When a non-resident Indian (NRI) opts to purchase a property in India, there are several regulations that govern how such a purchase can be financed.

Credits : freepik.com

Sources, for financing a real estate investment in India

The money for purchasing a property in India, has to come through banking channels only. Consequently, the payment cannot be tendered in the form of traveller’s cheque or foreign currency. An NRI can also use the money in his/her credit, in non-resident external (NRE) rupee or non-resident ordinary (NRO) or foreign currency non-resident (FCNR) account, maintained in India. 

NRIs are allowed to purchase property in India, by availing home loans in Indian rupees, from banks or housing finance companies. The home loan can also be granted by the Indian employer of the NRI employee, for the purpose of financing of the property.

Obtaining a home loan

As NRI investment in Indian real estate is only allowed in residential or commercial properties, banks too, can finance only these properties. Almost all banks offer home loans to NRIs for buying a house or constructing one. One can also get a loan, for purchase of land (non-agricultural), for constructing a house in India. 

The application for the home loan can be made online, as well as offline. The nature of documents that need to be submitted, will depend on whether the NRI is a salaried employee or whether s/he is self-employed. It will also vary, depending on the NRI’s country of residence. Nevertheless, copies of one’s passport and visa, passport-sized photographs and proof of residence in the foreign county, will be required in all cases.

Depending on whether the NRI is salaried or self-employed, s/he also has to fulfil a minimum period of stay in the country of present residence, to avail of the home loan. Banks may also insist on an acceptable co-applicant, or an NRI guarantor. The NRI guarantor too, has to submit documents pertaining to identity proof, address proof and income proof.

Servicing the home loan

EMIs on the home loan can be paid through remittances from outside India, through a proper banking channel, or by debiting the NRE, or NRO, or FCNR account. In case the property is let-out, the rental yields can be used for servicing the NRI home loan. Money transferred to the NRO account from close relatives, can also be used for servicing the home loans. In case the property is purchased for self-occupancy, the NRI can avail of a loan against the FCNR or NRE account deposits, of up to Rs 1 crore, for servicing the home loan. 

Remittances out of India

An NRI is allowed to repatriate some of the funds, in case the property so acquired is sold. However, the number of properties (whether purchased or inherited), for which s/he can remit or send money to India, is restricted to two. Moreover, the amount that can be repatriated, cannot exceed the amount (denominated in foreign currency) received as remittances from outside India, either for purchase or servicing of the NRI home loan. Under normal circumstances, an NRI is allowed to remit an amount of USD 1 million in a year, out of India, from his NRE, NRO, or FCNR accounts, which includes the amount remitted for sale of a house.

Also read: Real estate sale deed: Terms and conditions that home buyers should be aware of

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