Properties, Homes & more

This is final part of the series of articles on how one can utilize the inexpensive Styrofoam Ceiling Tiles as an innovative home decor. In Part 1, I explained what Styrofoam tiles are, their properties, and what make them so eligible for creative home decor. In Part 2, I gave a brief step-by-step approach on installing Styrofoam tiles.

In this article, let’s see how one can transform a plain looking ceiling into a fantastically beautiful one with the user of Styrofoam tiles! Here are some of the examples:

Please click on respective images to view larger image.

If you would notice, with the help of Styrofoam Ceiling Tiles, you can transform the dull, plain, (mostly) white ceiling into something totally hep… something which completely reflects the personality of the owner… something which not only makes the dull ceiling beautiful but also make it look trendy and stylish… something which is truly yourself… something which will attract zillions of jealous looks towards your “inexpensive yet classy” home decor!

Real Estate Leasing business of the Construction Division of Godrej has recently announced its grand foray into IT PARKS with the “Godrej IT Park - P2” As a part of its continuous effort to demonstrate care and respect for environmental preservation, the Godrej IT Park will be a LEED certified Green Commercial Building Project at Godrej and Boyce complex at Vikhroli. Godrej IT Park shall have more than 1.4 million sq. ft. of constructed space with approximately 1 Million sq. ft. of space on Leave & License. It consists of 2 Stilt Levels and 2 podium levels for Car Parking, Building Services and Utilities and 6 levels of Office Space.

“Godrej IT Park - P2″ is a warm shell, multi-tenanted building with exterior walls, landscaping and constructed parking lots. The building is fully enclosed with Electrical Systems and Power, HVAC, Plumbing and Fire fighting, Building Management System, Sewage Treatment plants and backup DG.

Salient Features

1. Godrej IT Park – P2 is located within the large lush green campus of Godrej and Boyce complex
   Provides flexibility and scalability across floors and blocks
2. Option of occupying multiple floors in a single wing or on the same floor
3. Neighbouring with existing large IT / ITES companies within the G&B complex
4. LEED pre-certified Gold rated Green Building with 41 points
5. Ample Car parking space
6. Landscaped Terrace garden

In a bonanza for residents of a Khar housing society in Mumbai, a builder has been buying off their mid-sized flats, paying each family between Rs 4 crore and Rs 5.5 crore.

Mumbai-based Parinee Developers claims to have shelled out between Rs 4 crore to Rs 4.5 crore for a one-BHK flat and Rs 5 crore to Rs 5.5 crore for a two-and-a-half-BHK in the three-decade-old Bharatiya Bhavan Cooperative Housing Society, which is located at the corner of 17th Road in Khar (west). Parinee plans to demolish the buildings and set up a high-end residential tower.

However, there is a word of caution from real estate experts. They warn these huge amounts may send wrong signals in the redevelopment market, unnecessarily create hype and raise expectations of other housing societies in the area. However, Parinee said it is paying this astronomical price only because the society has utilised barely 40% of its floor space index (FSI).

The developer has already bought out 20 of the 37 flats in the society and said it is negotiating with the remaining flat owners. “We are finalising the purchase of the remaining 17 flats. Our acquisition cost for all the flats is around Rs 200 crore,’’ said a spokesperson for the developer. The society comprising six buildings, each ground plus two floors, is spread over an area of 5,570 square yards (over an acre) with ample open spaces and car parking. The one-BHKs have a carpet area of between 580 to 625 sq ft while the two BHKs are between 800 to 900 sq ft in size. The society has been on the block for the past four years. In 2007, TOI was the first to report that the society had invited sealed bids from various developers and that a Navi Mumbai-based builder, APA, had offered Rs 180 crore to the society.

A real estate expert has a word of advice for housing society residents, “Dont get greedy. Stick to only prominent developers who have delivered in the past.’’ The expert further said some unknown builders in the past had offered astronomical prices to housing societies, even outbidding the big guns in the industry. These shady builders are just fronts for some politicians who want to roll their black money in real estate. Housing societies should stay miles away from such builders, he warned.

The National Textiles Corporation (NTC), which has reaped a windfall by selling off its properties in Mumbai since 2005, got another Rs 474 crore in its kitty in first week of August after Indiabulls Real Estate bagged the 2.3-acre Poddar mill at Worli Naka. The reserve price was fixed at Rs 250 crore.

For the first time ever, the NTC carried out an e-auction spread over three days. The property facing the Bandra-Worli Sea link was anyways expected to fetch a good price! The offer works out to more than Rs 200 crore per acre or more than Rs 25,000 per sq ft of saleable area. According to Knight Frank (India), the developer will probably set up a residential building and sell at the rate of between Rs 40,000 to Rs 50,000 a sq ft. Real estate continues to be crazy in Mumbai. With this kind of pricing, the flat will not be below Rs 5 crore for a two BHK and Rs 7-8 crore for a three BHK. Clearly, this is outside the affordability of someone who is making Rs one crore per year.

NTC also plans to sell another of its defunct mill, the eight-acre Bharat Textiles Mill, through the e-auction route which will end on August 6. A reserve price of Rs 750 crore has been fixed by the NTC. This mill is expected to fetch double the reserve price.

One of the recents developments happening in Thane’s real estate market is: builders are duping customers through sale of “stilt parking”. One of my close friends was a recent victim of this “possible scam”.

The builder in question is a reputed builder of Thane and has multitude of projecs running in and around Thane. this case happened in one of the projects which was, for some reasons, stuck in litigation in past. the builder have kept buyers in dark about it. now, somehow, the project is cleared and the project is almost on completion, he is trying to dupe customers by selling parking slots at exorbitant rates. he is also saying that STILT PARKING CAN’T BE SOLD LEGALLY (hence hehas & is selling them illegally) & HE IS NOT ALLOWING PARKING REGISTRATIONS ALSO.

I want to ask the legal experts if this is true.
1. Can “stilt parking” be sold at all?
2. Can “stilt parking” be registered? or, regularized?
3. What are legal options available to the customers?

Please share your opinions & save others.