After several failed attempts to lease out its six-acre Wadala plot for an iconic tower, the Mumbai Metropolitan Region Development Authority (MMRDA) has tweaked tender conditions, which industry sources say, may help it fetch a record price when bids are opened on 29th June 2010. With a reserve price set at Rs 1,980 crore and a deferred payment schedule spread over five years with a 10% interest annually, the MMRDA’s tender has suddenly generated a lot of interest among Mumbai’s leading developers.

Till 2nd July 2010, almost a dozen real estate companies had purchased the tender document. In 2006, Reliance Industries had paid over Rs 1,100 crore for a plot (18 acres) in the BKC. So, what makes this land—which had no takers till recently—turns into hot property? Although earlier earmarked for a mixed-use tower (commercial and other use) for which not many showed any interest, the MMRDA recently said the winning bidder could now even set up an entirely residential project. Further, the authority also permitted construction of multiple towers instead of a single tall skyscraper.

“With a 100% residential potential, it would not be a surprise if it turns out be the largest land deal in the city,” claimed a builder, adding that there will be more takers for residential than commercial. The Wadala plot has a development potential of close to 60 lakh sq ft. It was initially planned as a 101-storey commercial tower, but the MMRDA had to scale it down after it found no takers, besides facing objection from the civil aviation department.

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NCR - based real estate developer LandCraft Developers Pvt Ltd has announced the launch of its second residential project - River Heights Status - on NH 58, which is coming up adjacent to its first project River Heights on NH-58 at Raj Nagar Extn in Ghaziabad, Uttar Pradesh.

The project’s 756 residential units are being developed on an 8-acre prime property comprising of 2 and 3 BHK units. The project is scheduled to be completed within a period of 30 months from the date of commencement of construction work. The project will have 2 & 3 BKH options ranging from 823 sq ft to 1244 sq ft and starting at Rs 3.08 lakh onwards.

Speaking on the occasion, Manu Garg, director, LandCraft Developers, said: “As part of our continuing efforts in creating value for customers in today’s challenging environment, we have done everything possible, based on the feedback from our old and prospective customers, to make this new venture unique in many respects.”

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Natural lighting can change the ambience of the room, bring alive a dull room and transform it into a healthier living space. A room making the best use of natural lights embodies a perfect reflection of warmth and brightness.     Along with artifacts and accessories, lights are also one of the important elements in home decoration. Lights, used as the highlighter of the room, can even make it look dull if not placed properly. Understanding the light in the room design is very important as it can bring a dramatic transformation to the design of the room. This light need not be artificial, even the slightest of sunrays coming inside the room can make the room more functional and lively.     Natural light finds its place almost through all the corners available. It comes through openings including doors and windows. If there is enough of natural light entering into the room, directing it in the right direction can do an adequate job of lighting the room during the day time, thus reducing the dependence on artificial lights. Design and lighting     North is the best direction to harness natural light. While designing the room the depth of the window source must be taken into consideration. The farthest distance of the light from the window should not be more than 26ft otherwise; the light will not penetrate and falter. Morning light is best from the east direction while rooms facing the west can use the evening light.     Different types of glasses like mosaic, stained, coloured can be used to add colour an ambience and diffuse the light coming in. Skylights     Skylights are a major source for natural light. Different types of glass like mosaic, stained, coloured can be used to add colour and ambience. Skylights are mainly used in open areas and individual bungalows. They need to be maintained from time to time. Blinds or shades can be kept open during the day.     The amount of natural light coming in can also be controlled through curtains, window coverings to shades with whatever element coming inside the room. One can even play with lights depending upon the direction of your room. If the room is facing north, it mainly brings in cold light. So, use of warm colours red, yellow or orange in your decor can balance the coolness of light. Also a touch of blue and green can add coolness. Use of darker colours can suit the décor if the room is facing south as the light coming in is usually warm and sunny. For rooms facing east, a mix of warm colours can balance the daylight. The light coming in from the west is usually during late afternoons and the evening sun. Highlighting rooms with neutral colour shades can bring in light effects. By understanding the layout and direction of light that falls into your room, one can use lights in the best ways.     Harnessing natural lights is not only economical but also also energy efficient. Traditional skylights are an effective way to bring in natural light. In smaller areas flexible tunnels that can be bent around can be used to help the light pass. It works well for entry areas, hallways, inner bathrooms, and kitchen and closets where vertical light is unable to reach directly.     Have natural lights depending on its use in the room.

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Finance, documentation and legal matters are critical components in the process of buying a home. Property investors also need to evaluate returns and repayment of loan. Here is some of the major issues involved.

The first consideration when purchasing property, whether commercial or residential, is location. Depending on the intended use of the plot of land or building, you will be able to ascertain whether it is easily accessible to major roads and public transit, and whether it is close to amenities such as shopping malls, apartment complexes, recreational facilities, schools, and industrial belts. Also, find out if the property has easy access to utilities such as electricity and water.

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Jaipur : What rich and beautiful celebrities want they usually get, but Elizabeth Hurley’s dream of buying an “incredibly beautiful haveli” in the middle of a tiger sanctuary in Rajasthan may remain just a wish.

Tiger sanctuaries in Ranthambhore and Sariska are already reeling from heavy human traffic and the authorities would rather keep off visitors than help them settle down there.

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