Kiss the skies: future looks large, grand & green

New Architectural Styles May Help Silicon City Sport Brand New Look


Bangalore: Bangalore’s skyline and architecture are changing in ways that could make this city unrecognisable in a few years. Highrises, massive residential and mixeduse projects with extensive open green spaces and exotic landscaping, and newer architectural styles are combining to give this Silicon city a brand new look. The trend towards high-rises is striking, particularly in residential projects. The website of Emporis, a global provider of building-related data, lists 47 completed high-rises (12 floors or more) in Bangalore. A good number of these were completed in the past few years. As many as 18 more high-rises are stated to be under construction. And these are unlikely to include some of the projects more recently announced. Burjor Kothawalla, associate in the architecture firm Venkataramanan Associates, says as space gets more valuable and the availability of land drops, there is a tendency to go high-rise. “This is an interesting trend for Bangalore which traditionally contented itself with low-rise structures, much like the city of London,” he says. If the new comprehensive development plan for Bangalore raises floor space indices (FSI), as is expected, that would provide a further boost to highrises and encourage developers to challenge the 106-metre high Public Utility Building, the city’s tallest building even today. Large, grand and green: The highrise phenomenon is being accompanied by horizontal expansion. Newer projects are typically large-scale projects on a minimum of 10-15 acres, some going up to 100 acres and more. In line with customer expectations of large open and green spaces, most new projects try to keep built-up area to a minimum. Some 75-80 per cent of land area is often devoted to landscaping. “People today want lung spaces, open spaces, where grandparents, parents and children can move around,” says I. Zachariah of the architecture firm Zachariah Consultants. Even in landscaping, there is now growing levels of creativity. Puravankara’s Riviera tries to provide a resort-like feel with a stream running through and plenty of water bodies. Its Fountainsquare attempts to provide an European ambience through layered gardens, a grand central fountain, water cascades and cobble stone paths. Akme’s Ballet is attempting to recreate the grandeur of Renaissance architecture. “Customers want unique offerings,” says Girish Puravankara, director in Puravankara Projects. Arunjot Singh Bhalla, associate director in RSP Architects Planners & Enggs, says even in commercial projects people are conscious about integration of the landscape into the campuses. “People believe trees and greenery make a difference to their psyche, improve their efficiency. This is particularly evident among R&D companies, and now, the more conscientious BPO companies also want to provide such facilities,” he says. So if you are worried about Bangalore losing its Garden City status, the new developments should provide some comfort. Newer materials and styles: There’s also comfort for those tiring of the glass and aluminium cladding look in commercial buildings, a trend started by ITPL. Corporate clients and architects too are beginning to tire of this look and are moving towards other materials. “There has been an indiscriminate use of glaze and alucobond,” says Kothawalla. “Many of these materials have been developed in the US and Europe, where the primary consideration is to keep the heat within the building. In our geographical context, where the primary consideration is to keep the heat out of the building, these materials must be used judiciously.” Bhalla, who agrees with this, adds: “Clients now say they are sick of glass. In most of our projects, we’re shifting partially from glass to materials like sandstone, granite. We’re also trying to bring in elements of traditional Indian architecture like sandstone screens.”

ON THE ANVIL
Trend towards high-rises: Website of a global provider of building related data lists 47 completed high-rises (12 floors or more) in Bangalore.
Not just tall: New projects are typically large-scale projects on a minimum of 10-15 acres, some going up to 100 acres and more.
Creativity unbound: Resort-like feel with stream running through; European ambience through layered gardens,a grand central fountain,water cascades and cobble stone paths; grandeur of Renaissance architecture.
Sick of glass: Most of the projects shift partially from glass to materials like sandstone, granite with elements of traditional Indian architecture like sandstone


Visit Emporis for further details and listed here are some of the High rise buildings touching the sky in bangalore.

Completed:

High-rise Buildings (completed)
1. Subhas Chandra Bose Tower (106 m, 25 Floors)
2.South City Tower B5 [South City] (76 m,22 Floors)
3.South City Tower B1 [South City] (75 m,22 Floors)
4.South City Tower B4 [South City] (73 m,20 Floors)
5.South City Tower C3 [South City] (71 m,21 Floors)
6.Barton Centre (50 m 15 Floors)
7.Vidhana Soudha (46 m4
8.Visvesvaraya Tower (21 Floors)
9.Brigade Towers (17 Floors)
10.Raheja Towers (17 Floors)
11.HMG Ambassador (16 Floors)
12.Magnolia [Brigade Millennium] (15 Floors)
13.Cassia [Brigade Millennium] (15 Floors)
14. Mantri Elite Tower C [Mantri Elite] (15 Floors)
15.Mantri Elegance Tower .. [Mantri Elegance] (15 Floors)
16. Mantri Elite Tower A [Mantri Elite] (15 Floors)
17. Mantri Elegance Tower .. [Mantri Elegance] (15 Floors)
18. Mayfair Block [Brigade Millennium] (15 Floors)
19.Mantri Elite Tower B [Mantri Elite] (15 Floors)
20.Mantri Elite Tower D [Mantri Elite] (15 Floors)
21.Mantri Elegance Tower .. [Mantri Elegance] (15 Floors)
22.Mantri Elegance Tower .. [Mantri Elegance] (15 Floors)
23.Fairmont Towers (15 Floors)
24.Mittal Tower (15 Floors)
25.Du Parc Trinity (15 Floors)
26.Brigade Residency Bloc.. [Komarla Brigade Reside..] (14 Floors)
27.Brigade Residency Bloc.. [Komarla Brigade Reside..] (14 Floors)
28.Manipal Hospital (14 Floors)
29.Prestige Meridien II(14 Floors)
30.Platinum City Block D [Platinum City] (14 Floors)
31.Binny Crescent (14 Floors)
32.Discoverer [International Tech Park..] (14 Floors)
33.Prestige Meridien I (14 Floors)
34.Platinum City Block G [Platinum City] (14 Floors)
35.Vijaya Bank (14 Floors)
36.Platinum City Block C [Platinum City] (14 Floors)
37.RMZ The Millenia (13 Floors)
38.Purva Heights Tower A [Purva Heights] (13 Floors)
39.Shankarnarayana Towers (13 Floors)
40.Explorer [International Tech Park..] (13 Floors)
41.Vayudoot Chambers (13 Floors)
42.Innovator [International Tech Park..] (13 Floors)
43.Regency Heights (13 Floors)
44.Purva Heights Tower B .. [Purva Heights] (13 Floors)
45.Prestige Towers (12 Floors)
46.Embassy Heights (12 Floors)
47.Manipal Centre (12 Floors)
48. High Point IV

About Emporis:
Emporis leads the world today as the most comprehensive information provider with a focus on high-rise buildings (12 floors and more), with the ambition to cover the whole building market in the years to come.
Emporis is already one of the world's most respected, widely utilized sources for research, ratings, and analysis on information concerning buildings. The firm publishes research results and commentary that reach millions of website users around the globe.
The integrity and deep market expertise have earned Emporis the trust of market participants worldwide. Our ratings and analysis track hundreds of domestic and international real estate markets covering approximately 100,000 high-rise buildings, 30,500 companies, 8,000 cities in 206 countries and areas.

Some High Rise Buildings (Construction Ongoing/Started/Announced)
1. Akme Harmony
2. Purva Riveria
3. Prestige Shantiniketan
4. Akme Ballet
5. Brigade Metropolis
6. HM WorldCity

Taxing Times...Co-applicants and tax

This article explains how IT rebate can be availed when a home loan is taken jointly.
Many home loan borrowers are not aware of how interest is worked out when the loan is taken jointly. Let us take an example. A borrower took a home loan of Rs 20 lakhs in his wife's name. When applying for the loan, his wife's salary did not qualify for the Rs 20 lakhs. So the bank suggested that he should include his name for enhancing the family income and thereby the loan eligibility. His wife is the 100 percent owner of the property and only she would be taking the benefits of IT rebate under the Income Tax Act. All the papers related to property are in her name including the share certificates, allotment letter and the possession letter. Even the repayment would be done from her account only. As both husband and wife are the co-applicants, the banks usually send the statement for claiming IT benefits in both the borrowers' names. Now the question is, whether this may create problems for the wife as she would be unable to get 100 percent of the IT benefits. The wife is the owner of the house and for technical reasons the husband is only co-applicant for the loan. The repayment of loan is effected from her account. As such the bank may be requested to send the certificate in her name only, to enable her to claim income tax benefits. Alternatively, the wife can give a declaration to her employer to the fact that she is the owner and the installments have been paid by her only, and the name of her husband was only for securing the housing loan. The employer may grant the benefit on this declaration also. Another issue which is often raised is whether a wife can purchase a house when the husband already has a house in his name, or vice versa. What would happen to the taxability of income? There is no restriction on purchasing a house by a wife in the same city where the husband also owns a house. She can claim deduction of 30 percent of net annual rental value of the property towards repairs etc., and the amount of interest paid on loan under Section 24 while computing income from house property along with rebate on principal repayment. In case the property is not let-out, she can claim deduction of interest up to Rs 1.5 lakhs from net annual value of the property. Related to this, let's say the husband stays in a flat owned by his wife in Delhi. In order to avail of tax sops, he plans to purchase a flat in Bangalore. He intends to avail a loan. The husband does not own any other flat. The question is whether the husband would be eligible for tax benefits with respect to interest and principal components of the EMI from his taxable income. In order to claim the annual value of the property to be nil one has to prove that the owner is using the property for self-occupation. If one can prove that it is being used for his own residence, he can claim its annual value to be nil. If he leases the property, then the rent received, after allowing a deduction, will be taxable under the head 'Income from House Property'. The deductions are a sum equal to 30 percent of the annual value, and where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital.

Also an article on Moneycontrol discusses about the benefits of getting marriage on Housing Finance perspective.

Marriage has benefits even when buying a house. Are you planning to buy a house anytime? Then, even if you are Mr. Deep Pocket, it is better to opt for housing finance. Tax breaks are available only on borrowed funds and not on the use of your own moolah. Moreover, in most cases, you will find that the direct cost of borrowing is much lesser than the tax saved especially now with the new Budget offering tax breaks of Rs. 2.5 lakh on combined interest and principal payments.
Like I said, if you are buying a house, it helps if you are married. Real estate can be co-owned. Buy the property with both having an equal share. This way she cannot throw you out of the house (half of it is yours remember). But that’s not my point.
The loan should also be taken equally and the interest and principal payments for the same should be made separately by each from their respective bank account.
If the above is carried out, each is entitled to an interest deduction of up to Rs. 1.5 lakh under Sec. 24 and a principal deduction of Rs. 1 lakh under new Sec. 80C. So totally between the both of you, up to Rs. 5 lakh of income will escape tax! Makes you wonder why can we marry only one?

Voila..Tis Villa time in Bangalore

The fast expanding city of Bangalore will soon house a premium residential project promising the best of the construction with all the amenties being provided for. To be spread over 136 acres and five kilometers from the proposed international airport at Devanahalli, it promises to be Asia’s most luxurious townships. Designed and to be built by Jurong Consultants of Singapore and promoted by MetroCorp, the premium township - Nirvana will be the first of its kind in India to blend the flow of space between the indoor and outdoor environs.

Kenneth Blades, Director, MetroCorp said, “Nirvana will establish the finest living environment in Bangalore, designed to world-class standards; providing luxury, serenity, convenience and connectivity. The Nirvana township will provide a holistic living experience that blends physical comfort and spiritual well being. The architecture will be tropical and the design will be Vaastu compliant.” MetroCorp, which is in the business of developing townships and infrastructure projects, is owned and managed by a team of international investment bankers and real estate venture funds. Within the Nirvana campus will be a 40-acre Club House, Resort and Spa, with world-class sports and recreational facilities including a 400-yard Golf driving range and putting greens, 12 tennis hard courts, 12 indoor badminton courts, 10 squash courts, 3 swimming pools (including one heated pool and a Olympic sized pool), basketball courts, jogging and cycling tracks, 12-lane bowling alley, 10,000 sq ft fitness room, cybercafes, coffee bar, business centre, conference room, open-air deck lounge, 600-person banquet hall, multi cuisine restaurant, four speciality restaurants, internet and video conferencing, library, children's play area, etc. The Spa Resort will be run by one of the world's leading spa management companies and will have facilities such as therapeutic massages, rejuvenation centers, saloons, pool villas and Jacuzzi villas. Jurong Consultants is wholly owned subsidiary of Jurong Town Corporation, a statutory body of the Singapore Government. Jurong is responsible for some of India's leading projects such as ITPL Bangalore, i Labs, Hyderabad, Cyber Pearl, Hyderabad. According to Mr Rao Munukutla, CEO of Jurong Consultants “Nirvana will set defining standards for luxury townships in India, with the same kind of design and standards that are available in premium townships internationally. However, the township will be unique in the way in which the internal and external spaces are seamlessly merged into each other to provide a tropical paradise feel. Multi-layered security, water treatment plants, hydro pneumatic water systems, sewage treatment plants, DG backup, fire protection systems, optic fiber connectivity, Wi Fi, rain-water harvesting, besides an international school, shopping centers, ATMs, creche, clinic, etc, will be available.” Mr Munukutia said “Nirvana could be defined as the transition of one's life and its means, to a state of wholesome blissful living”. “It is this theme of a ‘unique inspirational living milieu’ that has been boldly translated to bring-in a 'living retreat' called Nirvana - an agglomeration of premium dwelling units capaciously designed on lines of the ever-cherished ‘Tropical Architecture. For the Nirvana township project, Jurong (India) has provided all technical support through its services as the Master planners, Architects and Engineers. As contractors, Jurong would also carry out the construction and delivery of the entire built space to international quality standards. Jurong India is involved in numerous projects across the length and breadth of the country worth about Rs 2000 crore.