Poor roads, inadequate basic amenities and an overall neglect of infrastructure had stunted the growth of Baddi-Barotiwal-Nalagarh belt for the past several years. But with the new government showing positive inclination towards improving infrastructure, the realtors see this industrial belt blinking brightly on the realty radar, reports Ambika Sharma
Baddi Beckons

Better infrastructure to give thrust to property prices

With Himachal’s new BJP government showing positive inclination towards developing the much-needed infrastructure in the state’s industrial hub of Baddi-Barotiwala-Nalagarh, the hopes of the realtors regarding a boom in real estate sector have been revived. 

The master plan of change
The Baddi belt will now be planned in a systematic manner. The master plan, the main tool to guide growth of the area will soon be enforced in the belt. The reference area for master plan is likely to be about 318 square kilometers. A plan for whole of the Baddi-Barotiwala-Nalagarh area will be prepared by the Baddi Barotiwala Nalagarh Development Authority (BBNDA).

Market crash may jolt realty prices too
Real estate will also feel the impact of stock market meltdown, says S.C. Dhall
Equity markets are critical drivers of liquidity and money supply. Real estate prices, which had shot up because of easy availability of cheaper credit can see a correction now with the stock market scales going down. However, the prices may not decline much but according to experts the transactions could dry up. Experts say realty prices are likely to fall by 15 to 20 per cent following a crash in the stock market.

HUDA’s assurance fails to appease allottees
Pradeep Sharma
With the Punjab and Haryana High Court "deadline" asking the Haryana Urban Development Authority (HUDA) to find an amicable solution to the imbroglio involving the registration of flats under the Haryana Apartment Ownership Act,1983, ending on February 10, the

Internal audit weak in urban local bodies, says report
Prashant Sood
With the Jawaharlal Nehru Urban Renewal Mission (JNNURM) having put the urban local bodies (ULBs) on the path of reforms, the Urban Development Ministry is working on ways to strengthen accountability and improve their financial management as the municipal budgets are expected to increase substantially due to the infusion of funds under the mission.

Real News
Emmar MGF to raise up to $ 1.79-bn from maiden offer
Mumbai : Realty major Emaar MGF will enter the capital market to mop up anywhere between $ 1.58-1.79 billion through issue of 10.25 crore equity shares in the price band between Rs 610-690. The issue, likely the third-largest in the country’s capital market history after Reliance Power and DLF, will hit the market on February 1. The issue proceeds would be utilised for part financing acquisition of land, construction of ongoing projects and pre-paying some debt.

TAX tips
Renovation expense is part of house cost
By S.C. Vasudeva
Q. I have purchased a new flat in Gurgaon and have incurred renovation expenditure. I have included the cost of such assets for claiming exemption under Section 54 of the Act. The assessing officer, however, is of the opinion that the said amount is not part of the cost of the house property but it is a cost of improvement and such cost of improvement, according to him, cannot be taken as cost of the residential house for claiming exemption under Section 54 of the Act. Please advise whether the action of the Assessing Officer is correct?

Slump in home loans
Growth rate is expected to fall to 15 per cent after two years of robust 30 to 35 per cent growth. While increase in interest rates has made common man wary, bankers too are exercising extra caution in disbursing home loans due to RBI’s policy measures, says S.C. Dhall
Sustained rise in property prices along with rising interest rates has resulted in a significant slowdown in the disbursement of home loans. The era of easy access to home loans appears to be over following the 300 basis point increase in home loan rates and increase in property prices. 

Hindware enters organised retail
Hindustan Sanitaryware and Industries Ltd is planning to enter the organised retail sector and will invest Rs 250 crore over the next five years to set up 50 stores across the country. The company has incorporated Hindware Home Retail Pvt Ltd (HHRL) as a subsidiary to enter into the home interiors speciality business with a new brand — EVOK.

LIC invites bids to consolidate its real estate portfolio
The Life Insurance Corporation of India (LIC) is planning to consolidate its real estate portfolio across the country. “Expression of Interest is being invited from professional consultancy organisations for consolidating our real estate portfolio,” LIC said in an advertisement.

A little bit of extra caution and attention to details at the time of laying water supply pipes can save a lot of sweat and money later, says Jagvir Goyal
Conquer the fear of leaking pipes
One thing that every house builder dreads is a leaking water supply line which can lead to chipping off of the plaster and brickwork to expose the leaking pipe for repair work. The job renders the bathroom or kitchen inoperative for a day or two. Too much of dust and debris make one’s heart cringe and the repaired wall and plaster never give the same original look and finish.