8/12/2019 Times Property Delhi 07Apr2007

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A TI MES OF I NDIA PRES ENTATIO N A P R I L 7 , 2 0 0 7

HOUSE MATTERS

Authorities shouldtake swift action toensure that adequateearthquake safetynorms are adheredto in the existingand upcomingbuildings, writesSubhashini Sinha

Bustling streets, multistoryedbuildings, flyovers dotting thelandscape and plush officeshave become inalienable part

of the trendy lifestyle of people livingthe metropolis. But have we ever given

a thought to what could be the grim re-ality in Delhi after a few moments ofseismic shock. Though Delhi lies inZone IV of the seismic zoning map ofIndia which is referred to as the earth-quake prone region, yet, it seems thatin the buzz of city life and pressure tomeet the deadlines insensitivity has in-creased to such an extent that an earth-quake of 2.3 magnitude (on the Richterscale) felt on on March 14, 2007 did notconcern the high and mighty. Do we re-ally need a catastrophe to wake upfrom our slumberness?

The National Disaster ManagementAuthority (NDMA) do enforces earth-quake protection norms and mitiga-tion of risks but all this will be redun-dant if it is not implemented.

The situation could be so frightful,in the wake of a major earthquake,that not a single hospital in the capitalwill be functional. Large scale con-struction works which are going on,need to take notice of earthquake re-sistance measures pertaining to lifesafety.

In fact the need of hour is to createawareness coupled with concrete ac-tion plans to be instigated at the grassroots level. Creating awareness among

the masses along with training theyoung minds of school children willdefinitely go a long way in ensuringour safety. The National Disaster Man-

agement Authority (NDMA) can pro-vide seismograph in different schoolsalong with their resource person totrain students into reading the infor-mation related to seismic waves.

Delhi could be divided into zones

and from each zone and area whichhave the Metro Rail connectivity, someschools could be selected. A specialseismic bulletin report could be tele-cast along with the daily weather re-

port. One such attempt was initiated bythe Wadia Institute of Himalayan Ge-ology, Dehradoon, but the effort needsto taken on a large scale.

The government should also makeit mandatory for the DDA and otherprivate builders to effectively complywith the earthquake safety norms. Itshigh time to scrutinise the urban de-

velopment programmes. The weak geo-logic structure of Delhi and the pace atwhich multistoried buildings are com-ing up needs to looked through the safe-ty angle.

In India, the authorities have not

yet recognised the various categoriesof protection. Nor is the populace edu-cated about the various categories ofprotection which are a) EarthquakeResistance Life Safety (for residentialpurposes), b) Earthquake ResistanceImmediate Occupancy (High RiseBuildings and Hotels) and c) Earth-quake Resistance Fully Operational.

Earthquake resistance constructionare costly by few lakhs but even thosewho can afford and would desire ahigher level of protection are unable todo so due to lack of awareness, but thegovernment should act fast and bringout clear norms so that the residents ofthe metropolis are not left in dark bythe vague and ambiguous terminologyof earthquake compliance.

Alka Pandey

Seismic

sense

Do not postponeyour plans to buya house amidstrising interestrates for long,writesPrabhakar Sinha

W

ill the interest ratehike affect the real es-tate boom in thecountry? This is the

million dollar question asked byevery one today. Even those whohave bought a house and thoseplanning to buy in the near futurewish to know whether increase inthe interest rate will affect the priceof the real estate. At the same time,builders are also worried about the

impact of interest rate hike on con-struction activities in the country.

With rise in the interest rates,pursuant to the RBI decision totighten the money market condi-

tion, home loan has become costly.It has hit the home loan borrowerhard. For the same loan now, he willhave to pay higher equated month-ly installment (EMI). EMI for a 20-year loan of the same amount hasgone up by around 48% in the lasttwo and a half years because of rise

in the interest rate from 6.5% to12%. In fact, the EMI of Rs 30 lakhloan for 20 year at 6.5% is the sameas Rs 20.31 lakh loan for the sameperiod at 12%. That means, for thesame EMI of Rs 22,367, now thehome buyer can borrow only Rs20.31 lakh as against Rs 30 lakh in2004. If the borrower wants to bor-row Rs 30 lakh today at 12%, he will

have to shell out Rs 33,033 permonth to service the debt. This hasaffected his purchasing capacityalso.

In the last two years, income of

an individual has not gone up bythe same amount. The salary, ac-cording to a human resource ex-pert, in the last two years has goneup by around 8% per annum in the

country. That means,he simply cannot af-ford a similar housetoday even if therewas no escalation inthe real estate prices.But, the propertyprices have also goneup by around 50% to100% in the same peri-od. Therefore, thosewho could not buy ahouse in 2004 becauseo f f in an ci al co n-straints, cannot thinkof doing so in the pres-

ent market conditionunless his income rosesharply during the in-tervening period.

But, in the last twoyears, despite con-stant rise in the inter-est rates, property

prices have been going up. SinceNovember 2004, interest rates wentup by 8 times from 6.5-7% to 12%. In2004 and 2005, interest rates in-creased one time each by half a per-centage point. But in 2006, interestrates increased six times by half apercentage point each. But, proper-ty prices kept on rising. A seniorconsultant said that this was main-ly because of proliferation of high-ly paid new jobs in metropolitancities and other parts of the coun-try in the last three years.

Despite rise in the interest rates,demand for office and commercialspace are on the rise. In NCR, nolarge office space is available. Allthe office areas that are coming upin the next two years are almostbooked. Which means, economic

activities are likely to continue andso new jobs will continue to be cre-ated. In such situation, a seniorconsultant said demand for resi-dential houses will also continue tobe exist. That means, if economicactivities continue, there would notbe a slowdown in the construction

industry.However, in the last three

months, there has been a steep risein the interest rates. In 2007, whileICICI Bank increased the ratestwice by one percentage point each,other banks and finance companiesincreased by around half a percent-age point each. This, it is feared,will hit the sector hard. But, con-sultants and developers feel other-wise. A senior consultant said thatthe growth story of Indian econo-my is likely to continue. Various re-search houses have predicted GDPto grow at around 8% in 2007-08,which is very high, said the con-sultant. This kind of growth wouldrequire huge supply of quality realestate in the country.

Therefore, builders and develop-

ers feel that rise in the interest ratewill not affect their business much.CMD of a large real estate groupsaid that as the e conomy will grow,new buyers will keep coming to buyhouses even at increased rates.Builders are least likely to cutprices.

But, it will affect the endusers, as they will have to bor-row at high interest rates. Infact, a consultant said, high in-terest rate is the worst kind ofinflation for the home loan bor-rowers. Interestingly, they areaffected by the measures, RBItook to counter the inflation.

The interest rate hike, how-ever, will certainly affect theprice of real estate in the sec-ondary market. The investorswill like to exit by selling theirproperty in the market. Ac-cording to one estimate, realestate prices have fallen byaround 10% following theprice rise in NCR. But, even atthe lower price, the buyers willhave to pay the higher EMI be-cause of rise in the interestrates.

In the last three months,rate has gone up by 2 percent-

age points to 12%. The EMI ofRs 50 lakh loan at 10% therate at which the loan was

available in December 2006was Rs 48,251. But now as theinterest rates have gone up to12%, even if the price has fall-en to Rs 45 lakh, the borrowerwill have to pay an EMI of Rs49,549. That means, he will bepaying Rs 1,300 more. There-fore, the end users will still bea looser unless the fall in priceis steep.

So, what one should do?The only saviour is that the

present tight liquidity condi-tion should not continue forloan and the interest ratesshould fall in the short to medi-um term. Bankers feel thatonce, inflation is controlled,RBI will allow the money sup-ply to increase leading to soft-ening up of the interest rates.

Therefore, consultants feelthat end users should not post-pone their plan to buy a housefor long. When interest rates

would fall, property pricesmay rise again.

Slowdown?

REALTYBYTES

SHOCKPROOF

Alka Pandey

Alka Pandey

NOIDA, GREATER NOIDA3 BR flat fo r sale by Om SalProperty & Interiors . LocationSector ph i Greater Noida .Area 1824 Sq-ft . Contact Person:Mr . Sharad Saigal 9899237700.Property ID 1230104.3 BHK residential multi-storey apart-ment for sale by Om Sal Property &Interiors . Location Sector- P1 (3233) Ekanki En, Greater Noida .Area 450 Sq-ft. Contact Person:Mr. Sharad Saigal 9899237700.Property ID 230052.3 BHK residential multi-storey apart-ment for sale by Om Sal Property &Interiors . Location olf Vista Apart-ment, Alpha , Greate r Noida.Area 660 Sq-ft. Contact Person:Mr . Sharad Saigal 9899237700.Property I D 1217681.3 BHK builder floor apartment forsale by Om Sai Property & Interiors .Location Sector- P1 (32 33)Ekanki Ekankin , Eldeco Green Meadows.Area 665 Sq-ft. Contact Person:Mr . Stiarad Saigal 9899237700.Property ID 186694.

C O T T A G E S

HOTTEST PROPE RTIESFromrnag icbricks corn

POPULAR PROPERTIESWEST DELHI3 B HK residential mu l t i - storeyaptmt . for sale by Good HomeAssociate . Location Sector 2,Dwarka . Area 1400 Sq-ft.Contact Person: Mr.Yuvraj 9818541050. Property ID 238686.A A Commercial Office Spacefor sale by AVR Associates .Location Janakpuri, Distt .Centre. Area 750 Sq-ft.Contact Person: Mr.Rakesh Kapila 9810406328.Property ID 1279775.3 BHK residential multi-storeyapartment for sale by RaoEstate . Location Palamapartment, 3rd floor Sector 5,Dwarka . Are a 1580 Sq-ft.Contact Person: Mr. KhemenderYadav 9868887800/981 0778600 / / 9911978600.Property ID 288347.

G U R G A O NNorth Facing, fully furnished andnewly built-up Guest House for salewith power backup and ampleparking, water storage, rain waterharvesting, and totally Vaastu com-pliant by Sarvodaya Realtors .Location Sushant Lok-l , Gurgaon.Area 500 Sq-yrd. Contact Person:Mr. Hemant Sapra 9818700634.Property ID 278752.Plot for sale by Sarvodaya Reaftors.Facing North East,Accessible From bothNanal Highway 8 and MG . Road.Locetion OLE City, Phase , Gt on.Area 400 Sq-yrd. Contact Paion: Mr.Hemant Sapra 9818700634.Property D 1266874.3 BKH aptmt. with Servant Otr for salebySarvoclaya Rea rs. Locatlen Pars-vnath Exotica, Golf Course Road,Gurgaon. Area 2810 Sq-ft. Cant.Person: Mr. Heman Sapra9818700634.Property IDi 266806.

A Aommercial office space for sale byPrime Estates. Location Sector 65 ,Block , Noida. Area 1800 Sq-m.Contact Person: Mr.Pavan Bir Anand 9811052324 / / 9999009524.Property ID 1228041.4 BH K residential mult i-sto reyapartment for sale by PrimeEstates. Location Pearl gatewaytowe rr Secto r r 44 , Noida.Area 3165 Sq-ft. ContactPerson: Mr. Pavan Bir Anand9811052324 / / 9999009524.Property ID 222761 .

AGENTS OF THE WEEK Kaira RealtorsConnact Person:MiPankaj Kaira9818697478.

Om Sal ProDertles InteriorsContact Persoir Mr. Kailash

9899237700 kaihan Realtors (P) LhLContact Persom Mr. BobbyKalhan9818892782.

To know more about these properties og on to www maglcb rl cks com Enter the Property ID . Click Go and find the property matching the ID.

I. A A U N C I

zone squareThe under-construction Aditya Mega City in Indirapuram will be asesufficient , composite residential-cum-shopping compIexWhere each flat has been judiciously planned and put to sensibleuse .A Aar cry from the concrete jungle that most people are used to.Aditya Mega City is a classic symbol of spacious luxury . In themidst of Nature thats so magnanimous.Where you ll wake up tothe calls of lovely l ittle birds in the open lawns .The A d itya MegaCity offers the option of two , hree and four bedroom apartmentsto suit the budget requirement of customers .The spacious livingrooms are airy and well ventilated. Besides Penthouses for wh olove openness , here is exclusive and spacious car parking area .Yet another feature is the Penthouses for the rich and deserving .There s no limit to indulgence in the in-house Club, which has aswimming pool, gym amphitheatre etc . to make the life a realpleasure . Aditya Mega City has the well-planned Aditya CityCentre , the in-house mallwhich has screen multiplexes anchor store foodcourts etc _ _ _ _Associates Group

Ozone Square ,Faridabad Heritage Cottages

Heritage Cottages presents Ozone Square , the refreshing, most fnendlyresidential complex at Sector 89 , Faridabad. In the midst of verdant surrounds ,Ozone Square brings premium apartments blended with contemporary lifestyle .Come to nature and own the greens at Ozone Square .Ozone Square ,our upcoming project is perhaps the best place in NCR closest toDelhi and has unmatched locational privileges like easy access to: South Delh4 Noida and Greater Noida through proposed Express Highways. Prominent Educational institutions for Engineering , Law and MedicaL Schools like Apeejay, MVN, DPS DAVand Vidya Sanskar International. Recreational Facilit ies like Malls, Multiplexes and Gymkhana Clubs.Various excellent amenities and facilities on offer include modern high speedlift with granite facia ,ward robes in a l l bedrooms , window air-conditioning in allbedrooms , sleek modern elevation and many more .Head office: 139 , First Floor, Shopping Complex , Sector 37, Faridabad .Registered office: R 1 2 Junagarh B, New D e l h i 110014, Tel .:9910700996 Website : www.heiitagecottages.co.in,Email: info@heritaaecottaaes .co.in

PROJECTS OF THE WEEK

ThHtIY4[I AIti

S.E.A.C.110:46 , rdalviya N a g a r , Bbopel. P.: 0755-6533192n-mail : seacbpl@rndil tmail .com M. 09300001966 09329731905 , 09303135870, 093295592M.RU New Delhi Mr AP ingh 66 sheetal apartment sector 14 Rohin P 01164532568M :09813130802, 09999001897. Noi : 0120-6523105.Indore :19, Classic Arc , Khajrana Road , in Front otAoaod Bazar. M. :09329559260151Jabalnur : 09329559258 . Owalior :09329559263Visitus: www.seac.co. n

Golden Square Behind Katara Hillson By-pass roadBhopal. A A agnificent entrance gate Beautiful landscaping Company s guarantee for plots farm land sec urity Farm land with advanced amenities200 ft. wide roads in front of the project Closed CampusA Aesidential complex a medical medicalollege on42 acres is proposed in front of the project.0 FARM LAND SIZE AVAILABLE: 500010000, 20000 Sq.ft. above.

555 1111 2222 Sq yd (approx ) above