Tuesday, 26 September 2017

Reliance Communications to pick one from nine companies to develop Dhirubhai Ambani Knowledge Complex campus

KOLKATA: Reliance Communications is said to have shortlisted nine companies, including Blackstone Group, Brookfield Asset Management, Godrej Properties, Hiranandani Group and Larsen & Toubro, from which it will select one to jointly develop and transform its 133-acre Dhirubhai Ambani Knowledge Complex (DAKC) campus near Mumbai.

“RCom wants to work on the co-development project at its DAKC property with one out of the several potential developers who have expressed interest,” said a company spokesman.

The Anil Ambani-owned telco expects the new-look DAKC campus to start generating annual lease rental income of roughly Rs 1,500 crore after the next five years. After that stage, RCom expects to sell out and generate net proceeds upwards of Rs 12,000 crore, which will be used to cut debt to under Rs 10,000 crore, a person familiar with the matter said.






Read More: http://bit.ly/2xJpRVD
Source: Economic Times


Monday, 18 September 2017

6 tips to add some drama to your home in no time

According to interior stylist Rubina Dhankar Qadir Din, "An easy way to lighten dark spaces is by strategically placing lights in innovative ways. Hang chandeliers or seat light fixtures on corner tables and then put a massive mirror opposite it to make them reflect doubly." According to Chawla, while a room looks warm and inviting with yellow light, it can also make an already dingy room look smaller. "To make a room seem fresh and bright, opt for white light bulbs," she adds.


Source: TOI Life

Thursday, 14 September 2017

Sold Properties To Buy A New House? Income Tax Ruling You Need To Know

Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.

In a significant ruling, the Delhi bench of Income Tax Appellate Tribunal has allowed tax benefits to a person who invested capital gains from sale of five properties to construct another property at Bhati Mines in New Delhi. In this case, the person had sold five properties during FY 2010-11 and had invested the sale consideration received in construction of another property. The person claimed deduction under Section 54F of Income Tax Act for investment in residential house against the capital gain on sale of house properties.

Section 54F deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property. To be eligible for capital gains tax exemption, the sale proceeds must be invested within stipulated time period (1-3 years) for purchase/construction of new property. Another condition to claim the benefit of this exemption is that on the date of transfer of the asset, the taxpayer should not own more than one residential house.

The income tax assessing officer disallowed the person's claim under Section 54F on the ground that the person he possessed more than one houses. The person owned a house property at Vasant Vihar and the other one at Bhati Mines was also considered another house property. However, the Delhi Tribunal allowed the claim to the person stating that since that Bhatti Mines property was not complete it cannot be considered a residential property.


And the tribunal also held that there is no bar in the section 54F of the Act for claiming deduction for second time or third time for the same property, if the cost of the property is within the capital gain arose to the assessee.

Commenting on the income tax tribunal's ruling, Sandeep Sehgal, director of tax and regulatory at Ashok Maheshwary & Associates LLP, said: "This is a welcome ruling as it will allow relief to people who are looking to consolidate their property holdings which may take a few years."

However, the income tax department can contest this ruling and it would be prudent to look at the stand of higher courts once the issue comes to them, he added.

Read More: http://bit.ly/2eYaH4f 
Source: NDTV

Monday, 11 September 2017

Home trends to try out this monsoon

Romantic upholstery
The best way to do up your pad is by giving your upholstery a makeover. Instead of using plain bright linens, go for something soft and soothing this season. It can simply be a few big flowers in shades of red and green. From bedspreads to curtains, table mats and linens — there is no end to it.
Soul wall
Many a times most people use one single colour in their house as the focal point. This trend is passe. Instead use a printed wallpaper to liven up any space in your home — bedroom, living area or balcony as well! Further, these wallpapers are often washable and you can thus keep them clean during the monsoon. Bright colours in yellow, red and orange are in this season.

Go organic
This is also the time of the year when your house looks beautiful if you have greenery around. For those who are fond of a balcony garden, you can create a faux grass and have flower pots placed on the side. If you do not have a balcony, don't worry, you can still go for natural stuff like bamboo, jute etc. Open up the windows of your living room and have jute or bamboo chairs placed right in front of it. You can sip on your hot cuppa chai while watching the pitter-patter of rains.

Choose rugs and durries instead of carpets
While it is easy to have a carpet placed in your living area and bedroom, you can give it a rest this monsoon. Instead opt for small rugs and durries, which are easy to manage and can be washed during the monsoon, unlike carpets. Opt for ones which are light in texture and won't make your room look clustered.

Replace balcony chairs with bamboo swings
This is that time of the year when instead of sitting on the plastic or wooden chairs in your balcony, you can go in for swings which are made out of bamboo. There is nothing better than getting back home from work and then just sitting out on the swing in your balcony and reading your favourite book or just listening to songs. However, make sure that you don't have a swing which is made of wood, else it will get spoilt with the splashes of rain.

Read More: http://bit.ly/2wUUI0n
Source: TOI Life

Tuesday, 5 September 2017

The Resale Advantage

Investing in a resale property has its own share of advantages. We highlight some of the benefits
Why should you invest in a resale property? Well, the reasons are aplenty but we list down top five reasons for you:




1 TESTED PROPERTY:

A resale property is already a `tested' one and the buyer can further investigate various aspects from the neighbours and people living in the same locality.The buyer needs to focus on the quality of construction and the property price while buying a resale property. “A resale property ensures on-time delivery with no unpleasant surprises,“ says Rohini Sarkar, a resident of Andheri (e).

2 LESS CHANCES OF FRAUD:

People sometimes get cheated when they buy an undere construction property.

Though a developer may seem to be financially sound, it is most likely not possible for a property buyer to evaluate his balance sheet and therefore, the chances of a fraud increases in case of under-construction properties. The resale properties are mostly ready-to-move-in ones; thus, the buyer just needs to verify the authenticity of the property and its papers.

3 IMMEDIATE POSSESSION:

Dharti Kothari, a resident of Borivali (w) says, “A resale property gives you the option to move into your new home immediately. Also, the need to spend extra money on the rented accommodation is ruled out. Immediate possession keeps the buyer safe from construction delays and you know how your property looks like and what all would you get along with it.“

4 BANK LOAN EASILY AVAILABLE:

As a resale property comes with the ready-to-move-in advantage; banks are not hesitant to approve loans for such properties. The bank's duediligence takes very less time and you don't need to wait for the loan disbursement (that takes more time incase of an under-construction property).

5 GOVERNMENT CLEARANCES IN HAND:

It has been noted that in the last few years, the work on an under-construction property project is usually halted due to legal disputes, a lack of environmental clearances, etc.When you buy a resale property, you know the exact number of clearances you need.


Read More: http://bit.ly/2xLoP91 
Source: The Times of India