Indian Union Budget 2007-2008...

Some highlights of the Indian Union Budget 2007-2008:

• Personal income tax exemption hiked to Rs 1.5 lakh
• Senior citizens threshold tax limit increased from Rs 1,95,000 to Rs 2,25,000
• Tax exemption for women increased to Rs 1.8 lakh
• New tax slabs: 10 per cent for 1,50,000 to 3,00,000, 20 per cent for 3,00,000 to 5,00,000 and 30 per cent above 5,00,000
• Excise on packaged software to be lower from 8% to 12%
• No excise duty on refrigerating equipments
• Anti-Aids drug exempted from excise duty
• Small cars to become cheaper
• Reduced excise duty on two, three wheelers
• Excise duty on hybrid cars cut from 24 pct to 14 pct
• Excise on small cars cut to 12 pct from 16 pct
• Rs 50 cr for tiger conservation
• Sixth Pay Commission report by March 2008
• Defense allocation up by 10% from Rs 96,000 cr to Rs 1,56,000 cr
• 22 Sainik schools get Rs 44 crore
• Rs 624 cr for Commonwealth Games
• PAN sole identification in securities market
• Debt waiver scheme and relief to small and marginal farmers
• Duty reduced on life saving drugs
• Rs 750 crore for upgradation of 300 ITIs in 25 districts.
• No change in peak customs duty
• Central sales tax cut from 3% to 2%
• Govt withdraws banking transaction tax
• Revenue implication of Indirect taxation to be 5900 cr
• Direct taxation changes to be revenue neutral
• Levy on STT only on option premiums

• Commodities transaction tax introduced like STT
• Short term capital gains to be taxed at 15%
• No change in surcharge of corporate tax
• Money changers and people running gains of chance and tour operators to be brought under service tax net
• Revenue Deficit is Rs 55,184 cr at 1% of GDP and fiscal deficit is Rs 1,33,287 cr at 3.1% of GDP
• Estimated planned expenditure at Rs 2,43,086 cr and non-panned expenditure Rs 57,409 cr
• Central Plans Scheme monitoring system under Plan Panel to be unveiled
• Non-agri peak rates for customs raises to 10% from 2% in 2004
• Tax to GDP ratio at 9.2% in 2004 up by 12.5% in 2007-08
• Custom duty on steel scrapped
• Set-top boxes to become cheaper

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Gurgaon is it all set to be a global city...

It was just some time back, premium properties in Gurgaon clocked an appreciation of about 50% in a short period of just 18-24 months for its investors. Gurgaon had become a benchmark in the country for its capacity to generate astounding returns on investments. But market dynamics have turned the tide today.

Earlier, newly-launched premium housing projects attracted the attention of High Networth Individuals (HNIs), NRIs, corporate honchos and businessmen. Take DLF Icon, for instance . This residential project was launched in 2004, offering apartments at Rs 2,750 per sq. ft. A couple of years down the line, property values here reached the staggering level of Rs 4,900 per sq. ft. An appreciation of 33.48 per cent over the launch price!

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Finding Manhattan on India’s real estate ma...

In the US, the trip might take more than a day, but in Bangalore, anyone can hop from Tribeca to Brooklyn, stop off at the White House, and head out to Melrose in a few minutes. The miraculous journey unfolds in a new housing development in Bangalore’s Electronic City named ‘Concorde Manhattans’, which sits on prime real estate across from a Wipro campus.While location is the major draw, developer Concorde Group is also betting that its American naming scheme will help attract Wipro’s globetrotting employees. “Manhattans is a brand associated with grandeur,” said the company’s marketing manager Alok Mishra. Turns out, naming each street and section of the gated community was also an exercise in workplace bonding. “We searched the Net, and everybody gave one name,” said the company’s human resource executive Gangadhar Gowda.As buyers in India rush to book new luxury flats before ground has even broken — with prices topping Rs 45,000 per square foot — developers must do more than acquire land and churn out projects: They must generate names by the dozen.

Observers of high-rises increasingly gracing the outskirts of cities note that the names tend to be of faraway places or concepts that conjure up images of gardens and greens, luxury and exclusivity. Developers describe the process of naming as largely random, turning to the Internet for inspiration or even their own mothers. But as they jockey to distinguish themselves from the cookie-cutter feel of developments and largely similar floor plans, some are finding the need to brand projects better, starting with the name.

“Many people go with English because they are more aspirational,” said Jagdeep Kapoor, managing director at Samiska Marketing Consultants, as he explains the phenomenon. “If they can’t pronounce it, then it’s very aspirational.”

Gurgaon is filled with such aspirational places. In DLF City, Phase 5, developments such as Wellington Estate, Princeton Estate and Carleton Estate overlook a landscape that is still defined mostly by construction and open dirt fields. The residents, though, aren’t quite sure what to make of the name.

When BK Sharma first moved to the complex, he was dead-set against the name. “I had a big discussion with my brother,” said Sharma, a retired railways officer. “Our childhood has passed in total Indian culture, but the name seems to indicate that we are living in an alien area.”
A DLF spokesman declined to go into the details of how the company named its projects, but did say that it was largely an ad hoc process. “Someone goes abroad and sees a name they like,” he said, “then they choose it.” “Most people do not think so deeply when they design the name,” said Sunit Sachar, who heads Parsvnath Developers Ltd’s Uttar Pradesh operations. “They just put in some good sounding names which had not been used earlier.” Parsvnath went with Green Ville for one Gurgaon development because the project ground was originally inhabited by greenery.

Emphasis on finding the right name is a relatively new phenomenon for most developers. “Now, most developers are focused on land and brand building, because a brand appreciates more than land,” said Kapoor. In the end, brokers don’t think names play a big role in the buyer’s psyche. “Property prices and sales are driven by location to such a large extent,” said Danish Farook, a Bangalore-based broker with Silverline Realty Pvt Ltd. “Name often becomes an insignificant aspect of the decision to buy.”

http://www.hindustantimes.com/StoryPage

Gurgaon gets closer to Delhi...

For those commuting between Delhi and Gurgaon on regular basis, there’s some more good news. Haryana government is planning three more road links that will, along with recently finished Gurgaon-Delhi expressway, ease traffic between Delhi and Gurgaon.

All three link roads are proposed in the Gurgaon-Manesar Master Plan 2021 and have been aimed to provide the shortest alternate connectivity between the new growth centres of Delhi and Gurgaon.

For exclusive connectivity between Dwarka and National Highway-8, Haryana Urban Development Authority (HUDA) is shortly initiating the process of land acquisition. A 150m wide road starting from Dwarka will connect Palam Vihar, the upcoming big SEZs in Gurgaon and will join the NH-8 near Kherki Dhaula. HUDA administrator Srikant Walgad said the government would issue necessary notifications for land acquisition for the Dwarka-Gurgaon link very soon.

“Providing this road link is on our priority list this year. It would cater to the demand of new residential sectors, commercial area on this stretch and it would provide direct connectivity to the NH-8 heading towards Jaipur. It would divert the load from the existing NH-8,” he added.

The 18-km long stretch termed as Northern Periphery Road, taking off from Delhi-Gurgaon border near Dwarka, would cover at least 16 new residential sectors. This would touch a commercial corridor and the Harsaru dry port, besides providing direct connectivity to the largest SEZ to be developed by Reliance Industries and Haryana government.

The direct connectivity gains importance considering the fact that Dwarka is set to be the hub of activity with the development of a huge convention centre in this part of Delhi.

“The stretch would get 30 metres of green belt on both sides. The plan is to develop a model road. We are working hard to expedite the work on the Haryana stretch. On the Delhi portion, we have been given to understand that work could be initiated only after the zonal plan is approved and that would be happening soon,” Walgad added.

The Vasant Kunj and DLF-II is also on the priority list, as the PM’s committee made clear at its last meeting. “It was fruitful meeting and we are hopeful of finding a solution to the issue of the road passing through approximately 700 metres of the ridge. All those present at the meeting unanimously agreed to the proposal to take up the matter with the Supreme Court appointed committee on environment.

There was proposal of either constructing a tunnel or an underpass on this stretch. This would bring huge relief to the commuters,” said D S Dhesi, secretary Town and Country Planning of Haryana government.

This 8-9 km long road will take off from Nelson Mandela Road in Vasant Kunj and will connect DLF-II to join MG Road at Nathupur crossing. Since a link road connecting MG Road and Gurgaon-Faridabad Road has already been opened, people taking the proposed 90m wide road would get the shortest connectivity to Faridabad Road.

The third link between MG Road and Gurgaon-Faridabad Road will take off from the diversion for Mandi village on the MG Road and join Faridabad Road.

http://timesofindia.indiatimes.com/Gurgaon_gets_closer_to_Delhi/articleshow/2716515.cms
dipak.dash@timesgroup.com