Property & Wealth August Issue

News Desk 13

Hot Spots 17

Mullanpur gets Hotter with GMADA Plans 26 The Homes Of India’s Super Rich 30

Real Estate Funding – The India Story Today 32

The Importance Of Estate Planning 34

7 Point Startup Watchlist 36 When You Hate Your Job 38

Quote Magic 40

Understanding Employee Provident Fund 42

Save Fuel Save Money 44

Planetsavers 46

COMMON MAN UNCOMMON STORY

Six months after he became a national

sensation on television when he won

the grand prize of Rs 5 crores, Sushil

Kumar is back on another happening

show. While we saw him sitting across

the legendary Amitabh Bachchan

on the former show, we now see him

dancing his heart out in the presence

of another Bollywood icon, the one and

only Madhuri Dixit. Lucky man!

13

36

42

08contents August 2012

PROPERTY & WEALTH VOL 1, AUGUST 2012, ISSUE 1204

property watch

earn

save

COVER STORY

Publisher & Editor-in-ChiefJasmeet [email protected]

Editor Pankaj Sharma [email protected]

Feature Writers Satpal Kataria, K.Singh, Rupinder PD, Sheetal Singh

Art Director Rajesh Kumar

Graphics TeamGagan, Sanju

Advertisement & SalesSandeep Kapoor (M) 9818510511 [email protected]

Sales & SubscriptionMr. Ajay Gupta(M) 9216841278

Photography Rohit Bhatia

Pre Press Team: NBC, GopalProduction Team: Upinder, Vikas, Vijay

Advisory BoardHarpreet Pooja & Associates Architects Rajiv Gupta & Associates

Chartered Accountant Vikas Chatrath, Advocate

Printed & Published by Sh. Jasmeet Singh at Plot No. 437-A, Industrial Area Phase-2, Chandigarh.Owned by Sh. Jasmeet Singh,220, Sector 19-A, Chandigarh & Printed at Savitar Press, Plot No. 820, Ind. Area Ph-2, Chandigarh.

CONTRIBUTORS AND ASSOCIATES

Be a Prosperity Seeker 48

Renunciation In Action 50 Bookshelf 52 Eye-Catchers 53

48

56

contentsAugust 2012

live inspired

soft corner

05PROPERTY & WEALTH VOL 1, AUGUST 2012, ISSUE 12

editorial

about this issue

It was in November 2011 that life took a rosy turn for

Bihar-based youth Sushil Kumar. He’d in fact become an

overnight sensation, having won the bumper prize of Rs 5

crores in the fifth season of Kaun Banega Crorepati. For

someone who was barely able to make ends meet, such

an achievement could easily be called his biggest leap

forward in a lifetime. Since its launch in the year 2000,

just six individuals and two pairs of contestants have made

it past the coveted ten million mark on Indian television’s

greatest ever quiz show. And having managed to cross

that mark five times over with the highest ever jackpot on

the show, Sushil Kumar became KBC’s ‘top scorer’, an

uncrowned king.

Now, about seven months later, we get to see the same

smiling face again on television. And he isn’t answering

multiple questions this time. The new millionaire is

contestant number 13 on Jhalak Dikhla Ja, one of the

most widely viewed, popular dance shows on television.

Madhuri Dixit, one of the judges on the show, has named

him antarmukhi (an introvert). But it is surprising how a

non-dancer like him has been able to hold his own against

competitors, most of who belong to the entertainment

industry. Is it his passion to learn a totally new skill or an

inclination to make the most of things? That is anybody’s

guess.

“Not everyone has that sort of luck”, someone said to me.

But if there is a lesson we could learn from this simpleton

from Bihar, it is to dream big. No matter what situation

you find yourself in today, don’t limit your goals. Life is full

of surprises and you never know when your most wishful

thoughts, may manifest. Landing you close to unseen and

distant shores, which are just figments of your imagination

today.

Dare to Dream

Jasmeet Dhamija Editor-in-Chief

Prosperity is for all. Doesn’t matter who you are, what you

do and where you live, everyone is entitled. It’s like getting

a ticket to the Olympics with nothing much written on it.

You get to choose whether you go there or not; whether

you want to play or just watch others play. And if you do

choose to play, your success depends on how you go about

your game.

With Sony TV’s Kaun Banega Crorepati Season 6 around

the corner, our Cover Story this month is about the winner

of the highest jackpot ever won on Indian television.

A commoner who became a household name, Sushil

Kumar won a phenomenal Rs. 5 crores in KBC Season 5.

Incidentally, he’s back on our television screens nowadays,

in a totally different ‘dancing star’ avatar.

You’ll find many interesting articles in this month’s issue.

In the WORK Section you’ll find an article each for aspiring

entrepreneurs as well as for salaried people. While there

are many pitfalls to be avoided if you’re starting off with

a new business, life is no less challenging for employees.

It’s common to fall out of love with your job! Get to know

about Employee Provident Fund and you can gain a few

tips on how to save fuel in the SAVE Section this month.

Mullanpur New Chandigarh is going to be the next big thing

as far as property development in the region is concerned.

Read up on our special article on the same in BUILD

Section. You also get to read some special articles sent in

by acclaimed property development experts.

Pankaj SharmaEditor

Cover Story

08

how Sushil Kumar met ‘his’ Stars!

Since its launch in the year 2000, just about six

individuals and two pairs of contestants have made it

past the coveted ten million mark on Indian television’s

greatest quiz show – Kaun Banega Crorepati. In

fact the most successful of them all, a young man

from Bihar, actually managed to cross that mark five

times over! And now, about six months after that

feat, crorepati Sushil Kumar is a special attraction

on another happening show.

COMMON MAN UNCOMMON STORY


With Kaun Banega Crorepati Season 6

likely to go on air from September 6,

2012, KBC fans eagerly await another

entertainment packed innings of the

popular TV quiz show hosted by the

legendary Mr Amitabh Bachchan. As we all know, KBC

has yielded many success stories over the years since its

launch in the year 2000, bringing joy and cheer to various

people and their families across the country. Perhaps

most of the contestants who made it past the ‘fastest finger

first’ round must have fancied their chances of achieving

the ‘crorepati’ feat on KBC. But as we’ve seen, it isn’t the

world’s easiest game yet. Out of so many hopefuls, just

about six individuals and two pairs of contestants have

been able to claim the title of crorepatis on the show. And

there is one man in particular who has managed to stake

that claim five times over! KBC fans would remember

watching this diminutive young person with a pleasant

smile create history when he hit the biggest ever jackpot

on Indian television. An astounding Rs 5 crore jackpot.

The run up to this fantastic common man’s victory was

telecast on two dates. On day one, his affable host

introduced him as a computer operator employed under

Mahatma Gandhi National Rural Employment Guarantee

Act (MGNREGA) for a meagre Rs 6,000 p.m. and taught

tuitions as well. Viewers were then shown a video clip in

which they showed how badly the contestant wanted to

win a handsome amount on KBC to be able to restructure


the family’s dilapidated house.

‘Hot’ Seat Victory

The KBC episode telecast on 2nd of November, 2011 will

forever be etched in the memories of millions of viewers

across the country. Despite a few hiccups, Sushil Kumar

had managed to play extraordinarily well. Displaying

sound general knowledge and great presence of mind,

he’d successfully navigated all thirteen questions which

flashed consecutively across the computer screens placed

in front of him and his famous host. And to his credit, Mr

Bachchan was every bit his encouraging self, all through

the game.

The thrilling final moments of the concluding episode are

still a treat to watch on videos available on the youtube

website. Sushil Kumar puts to good use his last helpline

to zero down to what he feels is the correct option to the

final question. As customary on the show, he asks Mr

Bachchan to ‘lock’ it. Mr Bachchan takes a long glance

at his computer screen. He doesn’t look up to affirm the

correctness of the answer but suddenly erupts in his rich

baritone... “Adbhut! Adbhut!! Adbhut!!!” which means

“Amazing! Amazing!! Amazing!!!” Sushil Kumar picks

up the Bisleri bottle in front of him and spills it over his

head! He then wraps his arms around Mr Bachchan, as

his family members make a beeline for them, eager to join

in on the celebrations.

Starry Dreams

In the initial moments of his interaction with his host

on the quiz show which changed his life, Sushil Kumar

makes a very interesting statement. He says “main inter

mein padhta tha jab se KBC aa raha hai aur shayad koi

din aisa nahin hoga jis din mujhe yeh na laga ho ki main

aapke saamne baitha hoon” (I was studying in Inter when

KBC first started and I have imagined myself to be sitting

in front of you, every single day, ever since). Imagine

holding onto a dream for eleven long years. A dream to

be seated in front of a quizmaster, whose questions if

you successfully answer, could well put you on the path

to a prosperous and thus, much easier life. A dream to

escape poverty through a test in general knowledge and

awareness, conducted on a popular TV show which lies

open to millions of people spread over all parts of this

country. Amazing, isn’t it?

The ‘Jhalak’ Challenge

Well, there’s more to be amazed about in this common

man’s uncommon story. Approached in the past by

a number of television companies for other popular

shows including Bigg Boss, Sushil Kumar spurned

them all, eventually giving in to Jhalak Dikhla Ja’s team.

Interestingly, the reason for his emphatic consent in this

case he attributes to the presence of another Bollywood

celebrity who happens to be one of the three judges on

the show. The gorgeous Madhuri Dixit.

Sushil Kumar perfectly fits the bill as the surprise package

of the current season on Jhalak Dikhla Ja. While his

friends warned him of a possible broken limb or back if he

participated on the show (given his poor dancing skills),

it didn’t deter our hero. He says that he was content in

the knowledge that no matter what happened, he just

couldn’t afford to let go of a golden opportunity to meet

his favourite Bollywood heroine in person. And though

he doesn’t watch too much television himself, it was wife

Seema who further encouraged this post graduate in

Psychology to participate in ‘Jhalak’ as it is referred to

these days. So, now we have the aam aadmi from Motihari

turned crorepati competing on stage with celebrities like

Gurmeet Chowdhary, Giaa Manek, Pratyusha Banerjee,

Jayati Bhatia, Sanath Jayasuriya, Talat Aziz, Ravi Kishan,

10 PROPERTY & WEALTH VOL 1, AUGUST 2012, ISSUE 12

Isha Sharvani, Archana Vijaya, Shibani Dhandekar,

Darsheel Safary and Bharti Singh for the title.

The Dancing Millionaire

Out of the prize money of Rs 5 crores, Sushil Kumar

received Rs 3.5 crores after tax deductions. Since he

wants to build a house big enough to accommodate all

16 family members of his joint family, he has purchased

a plot in his hometown worth Rs 22.5 lakhs to fulfil his

ambition. He has also removed a big burden on his family

by repaying loans to the tune of Rs 15 lakhs which his

parents had taken and there are no more loans to be

repaid. Interestingly, the jackpot winner still rides a bicycle

despite his celebrity status in town and does not want to

resign from his job of a computer operator. He is also

preparing for civil services examinations in order to fulfil

his ambition of becoming an IAS officer. The overnight

millionaire has also been named the brand ambassador for

Mahatma Gandhi National Rural Employment Guarantee

Act (MNREGA).

Cut to current Jhalak Dikhla Ja episodes. Show hosts

Ragini Khanna and Manish Paul give Sushil Kumar and

his dancing partner a warm welcome on stage. The duo

goes through various dance routines to impress the three

member panel of eminent judges. When their performance

comes to an end, they stand to rapt attention as the judges

take turns to give their ‘expert comments’ and award them

points. He’s done remarkably well, they say, for someone

who started off as a complete ‘non-dancer’ as he openly

admits. His heart must take a leap when he gets called

on stage by Madhuri Dixit herself, who likes to refer to

him as a “real life hero”. But although Sushil Kumar alias

‘Mantu’ has put on his dancing shows to impress her on

stage today, if you ask him, that’s not how it all started.

It all began with a poster of the diva he’d bought when

he was in Class 7. He must get goose bumps when he

prepares to go on stage in her presence today, but he also

doesn’t hesitate in declaring that he’d gone so far as to

marry her in his dreams a long time ago!


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newsdeskREAL ESTATE & INFRASTRUCTURE NEWS

14

regional

Final changes are being made in

Chandigarh’s Master Plan and the

document would soon be sent to the

ministry of urban development after

peer review by architects in Delhi. In

keeping with the projected population

figure of 16 lakh in the year 2031,

many policy changes have been

incorporated.

The Delhi high court on Tuesday asked

the Centre and Delhi Development

Authority to resolve the dispute of

extra flats built by private developer

Emaar MFG in the Commonwealth

Games village, since it hindered

smooth allocation of flats to buyers.

Justice G S Sistani asked the Urban

Development Ministry Secretary and

the DDA vice chairman to convene

a meeting with the builder to find a

solution before August 9 so that the

flats could be handed over to the

buyers.

Route identification for the ambitious

265 km Delhi-Jaipur Expressway

on the line of Yamuna Expressway

to Agra has been completed. The

starting point from the national

capital for the expressway, for which

the detailed project report has been

finalised, would be the Indira Gandhi

International Airport.

Realtors’ body CREDAI today said

it will fund construction of houses

for families of 31 differently-abled

persons in the national capital

region. As part of its corporate

social responsibility, CREDAI NCR

would help Habitat for Humanity

India and Madok Foundation

in developing these houses at

Mundka and Bahadurgarh area.

Each house comprises of a living

room, a kitchen and an attached

toilet with underground septic tank

providing good living conditions to

the underprivileged section of the

society.

Best Times Property Expo - 2012 Venue: Hotel Majestic Park PlazaDate: 11 to 12 Aug 2012

Best Times Property Expo - 2012 Venue: Epic Center, Apparel HouseDate: 18 to 19 Aug 2012

The ‘Land Pooling Scheme’

announced by Haryana Govt. recently

provides an option to the landowner-

farmers to get ‘developed land’ in

return for their acquired land. The

‘Land Pooling Scheme’ paves the

way for a land owner to get a 1,000

square yard residential plot and one

commercial plot of 100 sq yards for

each one acre of land acquired by

the government for development of

residential sectors by HUDA.

Master Plan CWG Flats

Delhi-Jaipur Expressway CREDAI for Differently-Abled

forthcoming events

Land Pooling

Chandigarh New Delhi

New Delhi New Delhi

90 Crores for 9 Villages Gurgaon

Chandigarh

The Municipal Corporation of Gurgaon

(MCG) has got an approval from the

state government sanctioning an

expenditure of Rs 90 crore for the

development of nine villages falling

under the corporation limits.

The municipal corporation will have

the responsibility for the progressive

development of the villages as well as

for providing basic infrastructure like

sewerage, water, roads and electricity

in the villages.

GurgaonLudhiana


newsdesk

national

15

US banking group Goldman Sachs

has agreed to take on lease 1.6 million

sq ft of office space – an area the size

of nine football fields – in Bangalore,

in what is the biggest recorded

commercial property deal to date

in India. The two-step transaction,

according to people familiar with the

transaction, will see the New York-

headquartered investment bank

initially taking up one million square

feet. Another 600,000 square feet

will be taken up in the second step of

the transaction.

Contrary to the popular belief, it was

not the country’s Capital city Delhi

but Chennai in down South which

witnessed maximum increase in

prices of residential properties as

high as 166 per cent — among major

cities in five years since 2007.

According to the Economic Survey

2011-12 tabled in the Parliament on

Thursday by Finance Minister Pranab

International Building Materials Expo Venue: G.V. Fair GroundsDate: 17 to 19 Aug 2012

Infrastructure Conclave 2012 Venue: Hotel Vivanta by Taj, Gomti NagarDate: 24 Aug 2012

After the Calcutta High Court struck

down the Singur Act brought in by

the Trinamool Congress government

last year, Chief Minister Mamata

Banerjee reiterated her government’s

commitment to return land to all

those farmers of Singur who did not

accept price for their land that was

acquired for the Tata Motors factory.

Goldman Sachs

Residential Property

forthcoming events

Bangalore

Succumbing to pressure from

builders and realtors’ lobby, the

state government has amended

the order (GO No. 45) and gave

them relief from reserving 20% of

developed land or housing units to

economically weaker sections (EWS)

and low income groups (LIG). The

municipal administration and urban

development (MA&UD) department

issued GO Ms No 245 exempting

housing projects in five acres from

reserving 20% of the developed land

for EWS and LIG.

In a major relief to the infrastructure

firm Lanco Infratech, the Supreme

Court on Tuesday stayed orders

of Andhra Pradesh High Court

issued last month that prohibited

the company from continuing

EWS

Lanco Infra

Hyderabad

Hyderabad

Chennai

Singur ActKolkata

Following the accident on the under-

construction Eastern Freeway that

brought to light glaring gaps in safety

measures at the construction site,

the city’s development authority has

decided to ensure strict barricading

and a ‘no parking’ rule at all other

project sites, especially at monorail

and Metro construction sites.

No ParkingMumbai

Lucknow Coimbatore

Mukherjee, residential property

prices soared by 54 per cent during

the period in Delhi.

construction activities at its major

township project in Hyderabad.

The high court had on 3 April observed

that the land on which Lanco is

building its integrated township

project belong the Wakf Board and

stayed construction activities on the

disputed land till further orders.


newsdesk

16

international

According to global property advisor

CBRE Group, Hong Kong is the

world’s most expensive shopping

destination as significant inbound

tourist flows and continued increases

in domestic wealth fuels occupier

demand from international fashion

and luxury retailers. The CBRE

rankings of prime global retail rents

saw little change in the first quarter

of 2012 (Q1 2012) compared to the

previous quarter. Hong Kong remains

at the top of the rankings with retail

rents at US$3,864 per square foot

(psf) per annum.

Hilton Worldwide recently signed an

agreement with Inveravante Group to

introduce two new premium hotels in

the historic city of Tangier. Located

within Morocco’s modern business

district in the heart of Tangier, the

two properties, Hilton Tanger City

Center Hotel & Residences and

Hilton Garden Inn Tanger City Center,

represent the first Hilton Worldwide

hotels in Tangier, one of the country’s

fastest growing commercial cities.

A multi-million-dollar, 80-story office

tower and transportation hub are on

the drawing boards for Tel Aviv, the

financial capital of Israel. At least

2,500 housing units are also planned

near the tower in an area northeast

of the Defense Ministry’s Kirya

compound in the center of Tel Aviv.

Oil-rich but shelter-poor Saudi Arabia

is finally getting some much-needed

new housing. Abu Dhabi-based Gulf

Capital announced it will be entering

Saudi Arabia’s real estate market for

the first time with a planned, multi-

phased $267 million residential

undertaking in Riyadh.

The Mail & Guardian, one of South

Africa’s oldest newspapers published

in Johannesburg, alleges a top crony

of Zimbabwe President Robert

Mugabe is a key figure in a major

money laundering scheme.

The paper alleges Robert Mhlanga

is using profits from diamonds

India at Your Doorstep Venue: Sydney Olympic Park Athletic Centre Date: 19th August 2012

iProperty.com EXPO Venue: Mid Valley Exhibition CentreDate: 24 Aug to 26 Aug 2012

Most Expensive Retail Market

Hilton Hotels

Tallest Building

forthcoming events

Hong Kong

Morocco

Israel

$267 M Residential

Diamond Laundering

Saudi Arabia

Zimbabwe

Argentina President Cristina

Fernandez plans to use pension

and treasury funds to provide almost

cost-free housing loans to 400,000

residents who have been on a

government mortgage waiting list

for years. The loans would have a

maximum level of $77,000. Interest

would be 2 percent to 14 percent,

depending on an applicant’s net

wealth. The loans would be repayable

on either a 20-year or 30-year basis.

The program is called ProCreate.

Low Cost HomesArgentina

Kuala LumpurSydney


smuggled out of Zimbabwe to buy

prime real estate on the Durban north

coast and in one of the plushest areas

of Sandton in Johannesburg.

newsdesk

hot spotsCHANDIGARH CAPITAL REGION PROJECTS

1. Zirakpur R Zone 1

2. Zirakpur R Zone 2

3. Mullanpur - New Chandigarh

4. Kansal

5. Aerocity

6. Mixed Land Use & Industrial Sectors 82, 66, 66A

7. Landran - Banur Road (Right Side)

8. Landran - Banur Road (Left Side)

9. Kharar Landran - Road

10. Balongi - Kharar Road

Disc

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illus

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Acc

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y of

the

map

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HOT SPOT IN FOCUS


Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.

Location: Mullanpur, New Chandigarh Highlights: Artistically crafted

landscaped vistas. environment

friendly parameters like Rain Water

Harvesting, Water Recycling, Solar

Energy

Options: Plots 250, 350 & 500 Sq.

Yds.

Muirwoods by Altus

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

DISCLAIMER: Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space

Location: Mullanpur, New Chandigarh Highlights: Nestled in the Shivalik Foot Hills at 6 km from Madhya Marg,Chandigarh on a 200’ wide arterial road. Low Population density of 100 persons/acre.Options: Plots: 100,200,300,400, 500 Sq. Yds.

GMADA Eco-City

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200


Location: DLF New Chandigarh, Mullanpur, PunjabHighlights: Part of 200 acres eco-friendly township, build to global Standards.Options: Independent Floors, 1880 sq ft GF, 1st Floor, 2nd Floor with life, on 350 sq yard plots

DLF Hyde Park Terraces

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Zigma Wealth: 8146992437

HOT SPOT IN FOCUS - MULLANPUR NEW CHANDIGARH


PROPERTY & WEALTH VOL 1, AUGUST 2012, ISSUE 12 21

Location: DLF New Chandigarh, Mullanpur, Punjab Highlights: Punjab’s First Eco Town, Foothill of Shiwaliks, Club House, 11 acres of greens 100, 120 feet wide approach roads. Options: 350 & 500 sq yds plots. Launching soon Independent Floors on 350 & 500 sq yd plots.

DLF Hyde Park Plots

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200


Location: Sector 1C & 1D, New Chandigarh, Mullanpur, PunjabHighlights: Highlights : “Live & Celebrate the Festival of Life”, 0 K.M. from Chandigarh, located on New Delhi to Anandpur Sahib - Manali proposed road. 200 Acres Integrated TownshipOptions: 250, 300, 500 Sq. Yds.

Chandigarh West Township

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200


Location: Extension of Madhya Marg, ChandigarhHighlights: pioneer in its own sense, being the tallest structure of the regionOptions: Approx 450 sq ft and multiples

Omaxe International Trade Tower

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200



HOT SPOT IN FOCUS Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.

23



Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 3 BHK & 4 BHK Duplex apartments near upcoming Golf CourseOptions: 3BHK & 4 BHK Duplex aprartments.

Sushma Crescent

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

DNA Realtors: 9814334259

Location: Gazipur, near proposed Golf Course, ZirakpurHighlights: Keyless biometric entry, every flat is corner & facingpark, hi-tech securityOptions: 3BHK only

Aero Homes

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Property Manthan: 9582898136, 9582898136

Location: Chandigarh-Ambala HighwayHighlights: Designed by R204DESIGN, leading US architecture firm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming poolOptions: 3BHK flats 1885 sq ft.

Sushma Chandigarh Grande

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Vinayak Estates: 9356821021

Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 2 BHK apartments near upcoming Golf CourseOptions: 2BHK aprartments 1276 sq. feet. WiFi zone, round the clock security with CCTV.

Sushma Green Vista

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Gazipur, ZirakpurHighlights: Excellent Layout Plans situated near upcoming Golf Course & Express Highway in Zirakpur. Options: 3BHK (1663) & 4BHK+Servant (2630) Flats

Green Valley Towers, Gazipur, Zirakpur

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Gazipur, ZirakpurOptions: 3BHK, 1685 and 1825 sq ft.Highlights: 360 degree view with 6 balconies.

Sushma Elite Cross

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

HOT SPOT IN FOCUS - ZIRAKPUR R ZONE 1

Sales Organisers/Dealers: Call 9216841278 to Adveriste in this spaceSales Organisers/Dealers: Call 9216841278 to Adveriste in this space


WEEKEND/HOLIDAY HOMES

Location: 3km from Solan on Solan Sabathu Road.Highlights: Registry for built up area for built area Even for non Himachlis. Enjoyable weather round the yearOptions: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.

Amravati Hills

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Kasauli Hills at 5000 feet, nearly 15kms from Kasauli amidst pristine environment.Highlights:Each Villa & Apartment providing a panoramic view of Mountains. Landscaped Gardens, Swimming Pool & Gym. International 5 star Hotel Options: Villas and Apartments

DLF Samavana

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Dagshai HillsHighlights: Situated at height of 5500 sq feet. its un spoilt nature at its best with Villas, plots, 5 star resorts.Options: Luxurious independent villas, residential plots

Pine Wood Resorts

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Dharampur Sapatu Road 2 kms from Hotel Victoria IntercontinentalHighlights: Panoramic View of the valley. Non Himachalis can buy in their own name. Specially imported pre fabricated apartments.Options: 1BHK/2BHK on 400 sq yard Plot

Hill Farms

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Kais Village, KulluHighlights: First of its kind group housing in HP, Unique terraced landscaping all around.Options: Exclusive low rise designer apartments and Luxurious villas

Kaisville

BudgetPlanner

BudgetPlanner

in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

Location: Solan Simla Old Road, Kumar hattiHighlights: Beautiful fully furnished apartment With un spoilt view of the mountains.An ideal hill farm house.Options: 2BHK and 3 BHK

Pine Wood Cottages

BudgetPlanner

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in lakh

0 10 20 30 40 50 60 70 80 90 100 150 >200

24


Sales Organisers/Dealers: Call 9216841278 to Advertise in this space Zigma Wealth: 8146992437

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SS Associates: 9876500036 Call 9815601347


26

While property market is not looking up in most

parts of the region, Mullanpur seems to be a

hot destination in the city periphery with Punjab

government announcing several development plans. The

area which is officially notified with a prime address of New

Chandigarh is being eyed by prominent developers, who after

plotted development are now venturing into independent

floors to cater to the growing demand for housing.

Interestingly, GMADA has also got a lot of takers under the

land pooling scheme during the land acquisition around the

Mullanpur area, which is about 15 minutes drive from PGI in

Chandigarh.

Under the revised policy for every one acre acquired from

a private land owner, he gets 1,000 sq yards of residential

space in the project planned on the land acquired, plus 100

sq yards of commercial space.

Mullanpur gets Hotter with GMADA Plans


Deepak Nayyar, Vice President, DLF India Ltd. and DLF Hyde Park, Mullanpur project head says, “I firmly believe that New Chandigarh will be the most sought after destination in the coming years due to its proximity to Chandigarh, well thought through master planning and ambitious development plans of Punjab Government. We at DLF promise to deliver the best to our customers as always. Hyde Park will be a self-sustained township giving a distinct advantage to all the privileged customers there.”

27

As per GMADA figures under the first land pooling scheme

launched for the Aero City project, as against 771 acres

acquired @ Rs 1.5 crore per acre for development, 155

acres were acquired under land pooling scheme. In Eco

City project, under revised land pooling scheme, out of

419 acres acquired 392 acres were under land pooling

scheme. In Sector 88-89 Mohali scheme, out of 662

acres acquired @ Rs 1.69 crores per acre, 648 acres

were under land pooling scheme. For Medi City project,

out of 97 acres acquired so far, 74 acres were under land

pooling scheme.

Now a 1686 acre Knowledge Park in Mohali (separate


All the government projects, including Eco City and Medi

City, and private residential developments launched so

far are slated to be completed in three years, after which

the area is likely to be the most sought after extension of

Chandigarh.

A senior GMADA official says Mullanpur is being developed

as an important destination by the government. He said

there is a lot of pressure on PGI, GMCH-32 Government

Multi-speciality Hospital-16, hence Medi City planned on

300 acres, of which 90 acres has been acquired so far.

Land has been set aside for constructing a Metro Rail

head at Mullanpur. Work on 6-laning of the Siswan

road, which is going to be the main approach road to

Mullanpur, is progressing well, both on Chandigarh and

Punjab side.

GMADA officials explain that PCA has already announced

plans to construct a cricket stadium. They are planning

to approach GMADA for a mega project to be spread over

45 acres which will also include a hotel project alongwith

the stadium.

Eco City Phase II Coming This Year

Eco City Phase I spread over 400 acres is already sold

out while there is a plan for Eco City Phase II which

would be spread over 370 acres. Land acquisition

proceedings under way and the project will be launched

at the end of this year, informed GMADA officials. DLF

and Omaxe have already launched their townships in

the area while IAS Society is at an advanced stage of

developing its residential complex. Greater Punjab Co-

op House Building Society also has plans to develop a

residential complex.

from Knowledge City where ISB and IISER are housed)

is coming up close to the international airport. Here 530

acres had so far been acquired @ Rs 1.70 crore per

acre.

Mullanpur Master Plan spreads over 6,000 hectares of

which 1400-1500 hectares are to be green areas. Low rise

and low density development will be allowed in the area.


30

The Homes Of India’s Super Rich


India is reeling under the continued onslaught

of inflation, petrol price hikes and generalized

insecurity about where the economy is headed.

Against all expectations, property prices in our

metros have held firm and even show signs of

upward movement. While the man on the street continues

to wonder when he will be able to buy a modest home of

his own, India’s super-rich are raising palatial homes at

truly astronomical expense.

Antilia, Mukesh Ambani’s 27-floor fortress at Altamount

Road in South Mumbai, is already being talked of as

Mr. Anuj Puri, Chairman and Country Head - India, Jones Lang LaSalle

31

the most expensive home in the world. Vijay Mallya has

levelled his 4.5 acre ancestral home on Vittal Mallya Road

in Bangalore to make way for the 82-apartment ‘White

House’, in which he will be occupying an acre-sized

‘palace penthouse’ on the 33rd and 34th floors.

WHAT LIES BENEATH

On the surface, India’s super-rich appear to operate in an

entirely separate dimension which has no overlap at all

with the ‘real’ world. There is certainly an element of truth

in this – wealth tends to beget more wealth, and at some

point a perpetual motion machine grinds into motion –

a cycle of money generation which vibrates on a rather

unique frequency. The question is – does this frequency

broadcast an ever-widening social divide? Not quite.

There are more elements to these super-homes than

meets the eye. The trend of India’s extremely high

networth individuals building palatial homes needs to

be viewed from various angles. Of course, it is to a great

extent a lifestyle statement that broadcasts the fact that

the individual and his family have ‘arrived’ and should

be numbered among the country’s wealthiest and most

influential people. This statement alone brings inalienable

social benefits with it.

Fundamentally, these palaces serve the same purpose

that the homes of other affluent people do. At the same

time, they also encompass a number of practical functions

– they serve not only as residences but also as business

centres and entertainment complexes. In other words,

these residences have strategic importance to their

owners and are not mere indulgences.

They also generate considerable employment and

commerce in and around the localities they occupy. For

instance, Ambani’s Antilia will provide jobs to no less than

600 people from all levels of the services industry. Many

of the supplies that go into building such houses and

keeping them operational must necessarily come from the

local markets. Coupled with the employment-generation

factor, they should be seen as economic dynamos in their

own right.

HOW THEY AFFECT PROPERTY PRICES

Beyond doubt, the homes of the super-rich create a

certain upward pressure on the price tags of luxury and

premium homes in the immediate vicinity. However, it

is also true that the real estate market in general is not

affected, as these luxury developments represent a

minuscule segment of the wider fabric.

It must be remembered that the Indian residential

property sector operates on three distinct levels. The first

is affordable or budget housing, for which the demand

is constant and highest. Such housing does not occur

anywhere near the prime areas where HNIs tend to build

their homes, and remains entirely unaffected by these

developments.

The next is mid-income housing, which is most sensitive

to price movements. Though certain mid-income housing

projects do happen near the prime areas of our cities,

buyers in this segment have very little tolerance for

unnatural spiking of property prices. Builders of such

projects have to keep the larger market in mind and can ill

afford to price themselves out of the market. This segment

is therefore also not significantly affected, either.

This leaves premium and luxury housing, which does

happen in the neighbourhoods in which India’s mega-

rich build their homes. This rarefied segment caters to a

class of buyers that tends to be, at least to a large extent,

insulated from the usual financial concerns of home loan

interest rates and percentile increases in property rates.

In the super-luxury housing segment, home buying is also a

lifestyle-related undertaking. Increased property rates can

and are often borne as long as there is a commensurate

increase in the capital value and aspirational quotient of

the property. Ironically, for this segment, a higher ticket

size is sometimes valued more as it attaches an esteem

value to the property and limits its accessibility to the

masses.

Many tend to look at these super-luxury residential

properties as irrational extravagances. However, the

ground reality is that the homes of India’s super-rich play

their own role in boosting commerce, even as the larger

industry remains democratized and oriented to the needs

of the masses.


32

Real Estate Funding – The India Story Today


Shobhit Agarwal, Jt. Managing Director – Capital Markets, Jones Lang LaSalle India

33

Over the last year, there has been an

unequivocal crystallization of Indian cities

that continue to attract serious investment

into real estate. This is directly correlated

to the economic dynamics now working in

the country. If India is to achieve even a conservative GDP

growth of 6% per year, it emerges that only three cities

– Mumbai, Delhi and Bangalore – have the potential to

deliver. The reason for this is that close to 2/3rd of the

overall development of office space in the country is now

taking place in Mumbai, Delhi and Bangalore.

The Unbeatable Trinity

In fact, these three cities have been displaying an extremely

fast pace of real estate growth exceeding 30% per annum.

This means that they generate the bulk of employment

in the country and therefore empower their citizens with

the highest spending power. It follows naturally that the

demand for commercial and residential real estate is also

the highest in these three cities. Axiomatically, whatever

capital is now chasing real estate in India is almost

exclusively focused on Mumbai, Delhi and Bangalore.

That said, the days when international capital was seduced

by the Indian real estate are over – at least for now. Today,

it is only domestic fund companies and managers such

as IndiaReit, Kotak Realty Fund, Red Fort Capital and

ASK that are carrying the show. Global funds have turned

a jaundiced eye on the Indian real estate story, largely

because of the negative press and ongoing policy paralysis

that continue to plague the sector.

The picture that this presents is not geared to attract

global fund managers, who require a reasonable degree

of stability and transparency before they venture into any

market. Whatever FDI remains is very selectively allocated,

and in close consultation with local investment agencies.

On the other hand, domestic fund managers who are more

informed and wired into the Indian real estate sector find

the overall operating environment is extremely promising.

Rules Of Attraction

As things stand now in Indian real estate:

· The cost of debt is north of 16% for construction and

20% for acquisition finance

· Developers’ input costs are staggering, with the cost of

construction per square foot up by at 20% over what it

was last year

· Property valuations are at what could be termed an all-

time low.

At the same time, demand for the right projects in the

right locations remains high. For domestic investment

managers, this is the best time to invest into the sector.

Seduction Points

Residential projects continue to be the high-focus area for

the international and domestic funds that are still focused

on real estate. However, they have clearly lost their taste

for affordable housing. This yesteryear poster boy of the

Indian real estate story has fallen off the capital markets

hit parade because of the low returns it yields and the

higher gestation period involved.

Likewise, luxury housing is also out of favour because the

project sizes are not large enough to warrant FDI or attract

domestic funding. Today, 80% of all available capital for

real estate is being plugged into mid-income housing

(projects with units price-tagged between Rs. 50 lakh to

Rs. 1.5 crore).

Funding Eligibility

At Jones Jones Lang LaSalle Capital Markets, the bulk of

our business is currently happening via debt syndication

through domestic funds. This is currently the most viable

business model because these funds are secured, easy

to handle and enable quicker execution from a developer

perspective. Capital markets services are provided to

developers based on their overall track record as well as

the viability and marketability of their projects.

In order to increase his eligibility for funding in today’s

market climate, a developer must be able to demonstrate a

sufficient degree of financial discipline and accountability.

For example, there needs to be verifiable proof to the effect

that there has been no cross-usage of funds allocated to

projects, and that every project represents a flawless case

of financial closure.


34

Estate planning is not only about property, but

about all assets that one has secured in one’s

lifetime. Technically, the concept of estate

planning includes assets such as automobiles,

insurance policies, bank accounts and fixed

deposits, stock market shares and mutual funds, pension

plans and anything that can be considered an asset.

However, it is also true that in most cases, property

constitutes the largest investment that we will make in a

lifetime.

Planning all aspects of one’s property holdings is therefore

of utmost importance. Regardless of whether an individual

owns only a single residential property or a multi-property

investment portfolio, estate planning cannot be ignored.

There needs to be complete clarity on:

• Who will eventually inherit one’s property

• What the tax implications to those who inherit it will be

• Whether the property will be free of financial

encumbrances after it is inherited

• Where funds to pay off any outstanding debts on the

property will come from.

Estate planning is no longer just for the wealthy. Today, most

middle-class people have made significant investments

and live in fully owned or mortgaged properties. This

means that estate planning is a pertinent consideration

which touches more lives than ever before.

Estate planning with regards to property does not end

with making a will. Leaving property to one’s spouse or

The Importance of Estate Planning


Kishor Pate, Hon. Secretary

CREDAI (Maharashtra)

offspring without any provision for meeting the implied

tax burdens will not help the beneficiary much. Moreover,

one needs to make sure that the will is not at odds with

the existing laws.

Obviously, one would wish to avoid the possibility of

legal confusion between family members when the will

becomes effective. However, there are now specific laws

which come into force with regards to property – for

instance, when a married couple decides to part ways.

One needs to make sure that the law does not dilute

the intended effect of a will when it comes to residential

property. Also, the effectiveness of a will will depend on

whether or not the property in question was inherited or

purchased during the owner’s lifetime. It is very important

to discuss the contents of one’s will with a competent

lawyer.

Also, any existing debts on the property owner could cause

the creditors to contest the will after his or her demise.

In such a case, the beneficiary of the will may become

responsible for covering this debt. The debt may even be

greater than the value of the property.

This can happen if the property owner had taken business

loans for which his or her personal assets can be attached

in case of default. These aspects needs to be carefully

scrutinized by an experienced chartered accountant.

For mid-income home owners who have purchased their

property with a home loan, proper estate planning would

include a term insurance policy. The proceeds of this policy

should be sufficient to cover any outstanding payments on

the home loan, and also all other outstanding debts. Also,

a property owner must make all family members aware of

the contents of his or her will. This can go a long way in

reducing the possibility of legal confusion at a later stage.

36

7 Point Startup Watchlist


1

Starting your own business during trying times like

these is no walk in the park. But trying times or

not, people who’ve made up their minds would

do everything to realise their dreams. For them,

the lure of taking control of their career, setting

their own schedule and making their own decisions is too

strong. They don’t want to be too careful and most of the

time they’re right! Business is actually about taking risks,

whether calculated or not. But still, it is important to consider

and re-consider one’s plans to avoid embarrassment in the

future and the following pitfalls are best avoided:

Skipping the Business Plan

More often than not, in case someone doesn’t seek outside

funding, a formal business plan is dropped from the scheme

of things. It is important to understand that writing out a

detailed business plan can go a long way in honing one’s

vision. Take time out to pen down everything that comes to

mind; business plan, marketing strategy as well as forecasts.


23

4

56

7

You need to keep your notes ready when you need them

to review your situation from time to time!

Past is Past

Remember, starting start-ups isn’t like preparing for a gold

medal in Olympics. You don’t need to get too attached to

your original plan if it doesn’t seem to work. While an

Olympic medal is something like a well-defined problem,

one needs to find one’s way towards a favourable business

situation. And that might mean discarding old ideas and

adopting better methods as per changing requirements.

Don’t Hire Friends

Experienced entrepreneurs would tell you how blind faith

spells trouble for your startup. At times, employers tend

to latch on to their less deserving employees, reluctant to

let them go. The person in question might be a friend or a

relative they’ve engaged at the beginning of their venture.

Unfortunately, the same people can let them down the

most, and it can be difficult to keep feelings aside and say

your goodbyes if the situation so arises.

What’s on Offer?

It’s critical to know your end buyer. Do you have a

specific user in mind? And if you do, do you understand

them well enough? These are critical questions which

can decide the fate of your startup. Simply stated, it’s

impossible to solve problems you don’t understand. But

then again, have patience. It might be a while before you

could develop better solutions for your buyer but for that

to happen, you always need to be in the hunt. If you can

figure how a new idea can fit into your company’s overall

goal and vision, go ahead and create a plan for how to

make that happen.

Spend Control

It can be hard to distinguish spending too much from

raising too little. It’s common for new entrepreneurs to

say either was the cause, when they run out of money.

One of the classic reasons for such a situation is by hiring

a lot of people. Not only does that increase your costs, it

also slows you down. In other words, be careful of your

hiring.

Half-Hearted, Half Done

So often have we heard about some project a couple of

guys started on the side while working on their daily jobs.

Some time later, they tell you nothing really got anywhere

and that project was gradually abandoned. If you go by

statistics, the most important thing to do to avoid failure

would be to quit your day job. That’s what most founders

of successful startups did and most founders of failed

ones didn’t. At the same time, it’s also true that starting

a company requires a certain amount of determination.

The reason some founders invest less time in their startup

is because they somehow know its a bad investment.

Fear of Failure

Thomas Edison wasn’t the only inventor who was

developing light bulbs but it was him who got it to the

finish line. It is widely accepted that he tried thousands of

times before he discovered the best filament to use for the

first practical, long lasting light bulb. An entrepreneur’s

life can be a real roller coaster, his path uncharted and

sometimes bumpy. A determined entrepreneur wouldn’t

let fear prevent him from following his dreams.

38

When You Hate Your Job


12

The pain and the despair of ‘hanging’ on to

a job you hate is no mean feat. It’s actually

tough to go to work every day when you hate

your job; but that’s exactly what so many

people do. They keep telling you how they

hate their job, their company and/or their boss. After all,

if everybody loved their jobs, they probably wouldn’t call

it work.

Given the tough job market these days, any ideas of

quitting without having another job lined up is just too

risky. However, if you ever find yourself saying the sort of

things your complaining friends do, you need to get rid of

that mood soon. The following tips will help you cope with

some of the ‘adverse’ situations you might find yourself in

at your workplace:

Stop Advertising

It makes sense to keep your “I Hate My Job” thoughts to

yourself, your family or close friends. Restrain advertising

the gloomy situation too much. A lot of people do that

and you could search Twitter for “I hate my job” to see

for yourself. Social Media stopped being harmless a long

time ago. For example, Twitter Tweets show up in Google

search. Carelessly maintained Facebook privacy settings

can also land you in a lot of trouble.

Nothing’s Ever Permanent

As per the findings of a recent survey by global workforce

solutions provider Kelly Services, 30% of Indian employees

are frequently thinking about quitting and 60% are

planning to look for a new job with another employer within

a year. Changing your job every few years isn’t taboo any

more and one shouldn’t think that a few years here and a

few years there is a warning sign on your resume.

Seek Time Out

Breaking the monotony of a routine you’ve come to hate is

39

34

5

67


a must. If you can choose an activity that you enjoy, like

an exercise routine or reading a paper; try and apply it to

your morning routine. Seeking time out for yourself in the

morning is a monotony killer. You start getting up for the

activity, rather than the job.

Fun at Work

Giving yourself a little break from your workday can well

be the solution to all your problems. Workdays can be

long and seem longer when you’re grumpy and in low

spirits. It’ll be wrong to say that people work all of the time

at the office. Things start looking rosier if you’re able to

follow Sachin’s score in a match you didn’t want to miss.

Or you could take a peep at the latest news stories of

the day on NDTV.com. Stepping out for lunch can be an

excellent stress-busting activity.

Keep that Sense of Humor

Laughter remains the best medicine. Nothing can bog

you down if you can keep your humor going. That makes

us start looking at the brighter side of life and making

unbearable company bearable. Also, if your problem

at work is that it has become a grind, chances are that

some of your co-workers probably feel the same way. You

could suggest an activity to liven things up a bit and help

everybody in the process.

Want to Stay? Stay

It’ll be wise to consider the alternatives before you make

a decision to quit. Finding a new job isn’t always easy

and if there is a fix, it’s definitely worth pursuing. If there

is anything you could be doing to be happier at work, it’s

time to find that out. Perhaps a transfer or a shift change

is all that is required to set your thoughts right.

Want to Quit? Quit

Even if you decide to leave your job, you don’t want to

leave it on bad terms. And it would be wise to make all

the effort you can to keep from destroying relationships,

since that can have a bearing on your work too. Your

performance in your current job can determine if you get

your next one. Maintaining a positive attitude will always

go a long way in getting you out of a bad situation.

40

A man is but the product of his thoughts what he thinks, he becomes.Mohandas Karamchand Gandhi


42

Every month your employer deducts an amount from

your pay towards your Provident Fund (also known

as Employees Provident Fund or EPF in short). EPF is

a retirement benefit scheme that is available to salaried

employees. Under this scheme, a stipulated amount

(currently 12%) is deducted from the employee’s salary

and contributed towards the fund. This amount is

determined by the Central Government.

Statutory Requirement

The EPF is maintained solely by the Employees Provident

Fund Organisation of India. As a statutory rule, any

company having more than 20 employees, have to

register with the EPFO. The employee contributes 12%

of his pay (Basic + Dearness Allowance to a ceiling of Rs

6,500 for most industries) and the employer makes an

equal contribution to the fund. The Employee Provident

Fund Organisation sees to it that the employer makes

regular contributions and credits interest to the fund. The

accumulated funds in the EPF account go to the employee

on his retirement (or resignation). On switching jobs, the

employee can either withdraw the PF amount or transfer

the balance to his account with the new employer.

Early withdrawal is allowed for buying property or in case

of wedding or educational expenses as well as for medical

requirements. On a withdrawal request, the employee gets

the accumulated sum in the fund along with the interest

as a lump sum. PF contribution is deductible from the

total taxable income (under Sec. 80C of the Income Tax

Act). The receipt of the accumulated balance in the fund

is also tax exempt. If you are looking to add to your savings

through your PF, you are welcome to make additional

contributions to the fund.

Pension and Insurance Benefits

In addition to provident fund benefits, the members of

an EPF scheme are entitled to some other benefits too.

From the employer’s PF contribution, 8.3% actually goes

towards a pension fund. Even better, the government also

contributes 1.16% of the salary (Basic + DA with ceiling

of Rs 6,500) towards pension fund for employees. On

Understanding Employee Provident Fund


43

1

2

3

4

5

67


retirement (post 58 years), the employee becomes eligible

to receive pension. The pension amount, however, is not

just the accumulated amount in the pension fund - it is

calculated on the basis of pensionable salary and the

employee’s years of service.

In case of death of an EPF member while in service, his

family is eligible for benefits under a life insurance policy

(under Employee’s Deposit Linked Insurance Scheme).

Every employer has to mandatorily make a contribution

(0.5% of basic + DA) to the Provident Fund authorities

to provide for life insurance of his workers. The ceiling

for death benefit under EDLI is Rs 1.3 lakh. An employer

can, however, choose to take up a group insurance policy

with a private insurer in the place of the EDLI scheme

. Here however, the employer should give a higher sum

assured to the employee.

Why Contribute to the EPF?

The contributions to the EPF come with a host of benefits.

Here is a peek into what it has in store for its members,

and what makes the investment worthwhile:

Safety of Returns

The EPF is the safest debt instrument to invest in. Backed

by the Govt, it guarantees safety of principal as well as the

interest earned, making it suitable for long term financial

goals. Since the investment is regular, it also brings about

an automatic discipline in investing.

Loan Options on EPF

Most companies offer you a loan against EPF as a security

at reasonable rates of interest. And the higher your PF

balance, the more is your eligibility for such loans. In

times of crisis, you could avail loan from EPF.

Tax Benefit on EPF

The contributions you make towards your PF gets you a

tax benefit u/s 80C, up to a maximum limit of Rs. 1 lakh.

Also, the maturity proceeds are tax free, if contributions to

the fund have been for a period exceeding 5 years.

Withdrawal facility in EPF

The complete amount from your PF could be withdrawn on

Retirement at the age of 55 years or due to early retirement

on account of some disability etc. Partial withdrawal of

money from the fund is permitted occasionally to meet

expenses of marriage, medical costs or for building or

purchase of a home.

Interest Earned on EPF

The rate of interest earned on a PF account is fixed every

year during the months of March or April by the Govt. The

EPF currently for the financial year 2012-2013 carries an

interest rate of 8.8%. This interest rate is guaranteed and

risk free.

Shifting of Jobs

In case an EPF member shifts his job, his PF balance

could be transferred from one employer to the other.

Quitting of Job

There is a provision to withdraw from PF if you quit your

job and provide a declaration that you do not intend to

work for the coming six months.

EPF and The Power Of Compounding

The EPF is a perfect tool to build a substantial retirement

corpus for investors. It works on the basic principal of

compounding, giving a high effective net yield on your

investment. Compounding is the system where the

interest earned on the principal is accumulated back

into the investment to give more earnings. The more the

number of times compounding takes place, more the

growth in money. The prudence thus lies in letting you

EPF investment grow so that it serves as a perfect social

security and monetary support on retirement to lead a

comfortable life ahead.

44

Let’s face it. No matter which Govt. comes to power at the

Centre, fuel prices never go South. And the way things are,

it’s futile to hope that prices would ever head the other way.

It is, after all, a non-renewable resource. So, what do we do

while fuel prices continue to burn holes in our pocket? As far

as finding alternates to fossil fuels is concerned, it’s a subject

the whole world is interested in at the moment. There have

been several attempts and some of them might lead us to a

lasting solution too. But clearly, no one really knows when

that might happen.

Squeezing a big more distance out of each litre of fuel can

add up to a lot of money over a period of time. There are in

fact many small ways in which you can aim to do just that. By

adopting some of the guidelines given below, you can expect

to see your car’s mileage improve and decrease your visits to

the petrol pump:

Save Fuel Save Money


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Slow Down

The faster you drive, the more fuel your car consumes.

Efficient driving means developing a smooth driving

style whereby you accelerate and decelerate in a linear

and gradual manner. Driving within the speed limit

recommended by the manufacturer also helps save fuel.

Check Tyre Pressure

Keeping the car tyres inflated as per manufacturer’s

specifications is probably the simplest thing you can do to

decrease fuel consumption.

Morning/ Late Evening Refills

Petrol density is highest during morning and late evening.

Remember, fuel pumps measure volumes and not

densities of fuel concentration.


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Lighten Your Load

Carrying around excess weight will result in additional

work for the engine.

Car Maintenance

Keep air filters clean and change engine oil regularly to

avoid frequent trips to the petrol pump.

Keeping Cool

Limit air conditioner use when driving at lower speeds.

An air conditioner that is on dramatically reduces

fuel economy, although driving over 45 mph with the

windows down creates drag on the car that increases fuel

consumption.

Fuel Quality and Additives

Stay clear of petrol pump attendants who try to convince

you to try higher octane fuel and additives. Sticking to one

brand of fuel, however, is always for the engine.

Avoid Clutch Driving

Placing your foot on the clutch not only reduces mileage

but also wears out the clutch plate, replacing which isn’t

cheap.

Park Right

Try finding a cool spot to park your car. Heat causes

evaporation. Also, parking in the shade means keeping

the car cool, hence reducing the requirement of

airconditioning.

Don’t Drive!

Last but not the least, look for alternatives. Consider car

pooling while going to work and walking the short distances

when you can to avoid starting it up every time.

46

It sounds almost too simple, but don’t forget that

you can save a lot of energy, and therefore money,

by making sure to turn off the lights when you leave

a room. It does not require any equipment and the

energy savings can be significant.


planetsavers

48

Known as the “plant of immortality” by the ancient

Egyptians, Aloe Vera versatile plant that can be used

both internally and externally; offering multiple benefits

for the skin as well as the inside of our bodies. Perhaps

the most widely recognised herbal remedy in the world

today, Aloe Vera is a semi-tropical succulent plant

originally from North Africa and now grown worldwide.

Choose to cruise if you want a hassle-free vacation

on which you pack and unpack only once, no driving

around looking for a hotel or wondering where you

should eat next. It’s the grandest way to escape smog,

pollution, alarm clocks, stress and ringing telephones. A

cruise trip is about sea, sky and landscape. And you’re

pampered like nowhere else.

Find time to CRUISEAloe Vera

be a prosperity seeker


49

Someone aptly said that we are born with the gift of

laugher and it’s being serious that we learn. Not only

does laughter make us feel better in the moment,

research shows that the health benefits of laughter are

far-ranging. Unfortunately, however, many people don’t

get enough laughter in their lives. In fact, one study

suggests that healthy children may laugh as much as

400 times per day, but adults tend to laugh only 15

times per day.

Laughter, the best medicineThe Law of Attraction simply states that

you attract into your life whatever you

think about.

...good health, a great mind & lots of money!


50

Renunciation In Action by Swami Parthasarathy

Renunciation In Action


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Action is the insignia of life. The law of life

proclaims that none can remain without

performing activity. Everyone is made to act

according to one’s own inner temperament.

If you choose to remain idle, you lead yourself

to destruction. Look at Nature. Observe the stagnant pool

and the running brook. Where water stagnates it turns

filthy and dirty, whereas running water is clear and pure.

If you are to succeed in life, if you wish to be prosperous

and peaceful, you must adopt the principle of running

waters. Follow their line of action. The river keeps moving,

overcoming all obstacles, ever-progressing. It never stops

until it reaches the ocean. So must you pursue the path

of action until you reach the abode of Truth. Vedanta

highlights the gospel of karma action. It emphasises the

importance of fulfilling your obligatory functions in life.

Scriptures caution us that even to maintain your body, you

must be active. If any part of your body remains inactive for

a period of time it loses its strength and vitality. Your body

needs to be kept in constant repair. You must exercise

daily. But people detest the idea of physical exercise.

Instead, they choose to indulge in sensual pleasure.

But even enjoyment of sensual pleasures needs proper

maintenance of the physical body. Neglect of physical

exercise would prove detrimental to your material and

spiritual wellbeing. Hence, the first spiritual lesson Swami

Vivekananda gave to his followers was: ‘Go, play football!’

Vedanta insists on work, work and work. Equally so, it

glorifies renunciation. There is an apparent contradiction.

How can action and renunciation go together? The

answer is: Real work is founded on renunciation of the

ego -- which is work performed without the egoistic

feeling, ‘I-am-the-doer. I am the sole architect of all that

I do.’ Real work is turned out when the body plunges

into action while the mind is attuned to an ideal set for

it. A true worker is one who pours out his efforts for a

higher cause beyond his selfish interest. It has to be done

without an egoistic arrogation of doership. That is the spirit

of renunciation to be practised. Such work commands

success and prosperity concurrently with peace and bliss.

You can practise it in your home, in business, in society,

everywhere. There is no need to retire to the forests for

living a life of renunciation.

The idea of working in a spirit of renunciation has confused

people. People either become attached, entangled in their

work or turn cowardly and seek escape from it. Realise

that action is inevitable. You cannot avoid your obligatory

functions. In the epic Mahabharata, a great battle was

fought between two royal forces. Arjuna was a warrior-

prince leading one of the armies. He aimed at destroying

unrighteousness and resurrecting righteousness in the

country. The stage was set for the battle to commence.

At that crucial moment Arjuna wanted to withdraw from

the scene. The warrior declined to fight. He shrank from

his obligatory duty. It was then that Krishna gave Arjuna

the sermon of the Bhagwad Gita. He advised him of the

necessity and art of right action and how action embraces

the principle of renunciation. He asked Arjuna to renounce

his ego and fight the battle impersonally for the welfare of

the people. Empowered by this knowledge, Arjuna fulfilled

his obligation as a warrior and won the battle.


“It is not the brightest who succeed,”

Gladwell writes. “Nor is success simply

the sum of the decisions and efforts we

make on our own behalf. It is, rather, a

gift. Outliers are those who have been

given opportunities — and who have had the strength and

presence of mind to seize them.”

What is an outlier? According to one dictionary definition,

an outlier is ‘something that is situated away from or

classed differently from a main or related body’. But

Gladwell uses the word with more metaphorical flexibility.

For him, an outlier is a truly exceptional individual who, in

his or her field of expertise, is so superior that he defines

his own category of success. Bill Gates is an outlier and so

are Steve Jobs of Apple, Robert Oppenheimer and many

others Gladwell speaks to or writes about as he seeks to

offer a more complete understanding of success.

In 1968, when Bill Gates was 13 years old, his school,

Lakeside Academy in Seattle, Washington, acquired a

computer, a terminal on which Gates could program non-

stop for the next few years, a once in a lifetime opportunity

to practice something that would have unforseen value. At

the age of 16, Gates learned that a mainframe computer

was available for free in the middle of the night at the nearby

University of Washington. Unbeknown to his parents, the

young Gates snuck out each night to write code between

2 a.m. to 6 a.m. Good fortune played an critical role in Bill

Gates’ success by allowing him significant programming

practice time that very few others his age had during a

critical juncture in computer history.

Why is Bill Gates a billionaire? He’s smart, of course, and

he has tremendous ambition. But he probably wouldn’t

have started Microsoft (MSFT) if he hadn’t been born in

1955. That made Gates old enough to take advantage of

the opportunities that opened up with the introduction, in

1975, of the Altair 8800, the first do-it-yourself computer

kit. But he wasn’t so old as to be too settled in his life to

take a leap of faith.

Gates also was fortunate to attend Lakeside, a private

school in Seattle with its own computer. The Lakeside

machine was one of a new generation of computers that

shared processing power with a much larger computer

downtown. That meant he could learn programming

without being slowed by the laborious punch-card process

used for computers just a year or two earlier. Gates had

thousands of hours of programming under his belt when

the Altair became available, making him perfectly prepared

to take maximum advantage of the PC revolution.

In Part II of Outliers, Gladwell shifts his focus from

circumstantial good fortune and serendipitous timing to

the cultural legacies we inherit from our forbears. Key

among the illustrations in this section is that of agrarian

Chinese from Southern China, who for thousands of years

engineered, built, and toiled in rice paddies. The work

is famously grueling as well as surprisingly complex, and

Gladwell contrasts Chinese commitment in this rigor to

the lassitude of peasant farmers in Europe, pointing to the

differences in the different systems that evolved around

the two forms of work. Through a string of narrative

that also references studies of mathematical learning,

Gladwell leads us deftly to very plausible explanations for

the truth inherent in cultural stereotypes about Asians in

academia.

OutliersThe Story of Success

Malcolm Gladwell


Indian-American record-setting astronaut Sunita Williams along with her two colleagues took off for her second space odyssey on a Russian Soyuz rocket, which blasted off successfully from Baikonur cosmodrome in Kazakhstan. Born in Euclid in Ohio and raised in Massachusetts, Williams, who had earlier lived and worked aboard the ISS for six months in 2006-07, will further extend the record for the longest stay in space for a woman astronaut.

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Soft Corner

Twice been listed among the 100 most influential people by TIME Magazine, Businessman Azim Hashim Premji, Chairman of Wipro Technologies is one of India’s richest business leaders. Awarded with the titles of Padma Bhushan as well as the Padma Vibhushan by the Govt. of India, he is a role model for many young entrepreneurs around the world. With a net worth of over $15 Billion, the Electrical Engineer from Stanford University considers his social responsibilities as his greatest priorities in life. He established the Wipro Equity Reward Trust in the year 1984 to allow employees to own a fraction of the company’s profits and successes through stipulated shares. In the year 2001, he founded Azim Premji Foundation, a non-profit organisation which works in the area of improving public school education in India. In December 2010, Premji pledged to donate $2 billion for improving school education in India. The Azim Premji University established in Karnataka trains teachers from rural and impoverished schools and helps them improve the condition of elementary education in the country.

Azim Premji, The Greatest Entrepreneurial Philanthropist of India


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