The Luxury Quotient

Luxury homes continue to dazzle in the wake of robust demand and keen investor
interest. check out some of the top offerings in the country
EVEN in the midst of low sentiments haunting the real estate sector, there is one segment that is totally unfazed by it all. Luxury homes continue to dazzle in the face of robust demand and keen investor interest in the segment. Royal offerings doled out one after the other by real estate
developers show that at least one buyer category has remained as loyal as before — the luxe home buyer. SundayET commissioned a survey to global real estate consultancy Cushman and Wakefield (C&W) to find out some top-of-the-line luxury offerings coming up in the five major cities of
Delhi, Mumbai, Bangalore, Hyderabad and Chennai.
And here’s what they found. While the new luxury apartments in Delhi-NCR were valued at over Rs 10 crore, in Mumbai it easily crossed the 20 crore mark for a 4 BHK. It also found that among the new constructions around the National Capital Region (NCR), properties in Gurgaon commanded a premium, while sea-facing locations in the financial hub attracted the richie rich. Lavelle Road in Central Bangalore was much sought after as a luxury buy. And while Spanish villas in Hyderabad made an opulent statement, it were the spacious independent houses in Chennai that were the new luxury abode. In the survey, they included both projects which have been announced recently or the ones which though announced earlier, were only getting ready now.
Delhi NCR, in itself has at least seven extremely high-end projects. Top corporate honchos, expatriates and high networth individuals (HNIs) dominate DLF’s Magnolias located in DLF Phase V, Gurgaon. The apartments, which will be ready in 1-2 years can go up to a whopping Rs 10 crore with the average size of an apartment at roughly 5,500-10,000 sq ft. Attractive rental potential and substantial increase in capital values since 2005, the locational advantage of the golf course and improved connectivity via the operational Delhi–Jaipur 8-lane super expressway are some of the USPs of this project. Says Rajeev Talwar, executive group director, “Luxury apartments are taken up by actual users so demand will always remain…. Anyone who is buying such an apartment does so keeping a variety of factors in mind. Moreover, these are bought by those who have a surplus.”
Another project in Gurgaon, Ambience Group’s upscale Caitriona project, located in Ambi City NH-8 Gurgaon, will be coming up in 2-3 years and is priced at a royal 8 crore plus tag. Boasting of sevenstar living, it is located amidst the 150-acre Ambience Island premium integrated township.
Caitriona offers limited condominiums for a select few. A great golf course view, super premium international designing and complete furnishing for a readyto-live-in condominium, Caitriona flaunts snob value all the way.
Vipin Agrawal, executive director of Omaxe, feels that the current market scenario will have little effect on this segment. “Luxury homes are always in demand. Top CEOs and businessmen are the main occupants here. Hence, whatever be the market dynamics, there will always be an active demand for such projects.” The realtor has a luxury project, The Forest, adjoining the Noida-Greater Noida Expressway, which sold for Rs 6,500/sq ft.
Spectacular views of the sea in the financial capital of Mumbai was seen as the sign of exclusivity and beauty. Lodha group’s Lodha Solitaire project offers just that on Napean Sea Road in South Mumbai, wherein each apartment offers a tranquil view. High-end amenities such as a mini theatre and an infinity-edge swimming pool further add to the glam quotient. Another project by the same developer, the 48-storey Lodha Bellissimo project features private pools, gardens, private staircases at a starting price of 8 crore for a 3BHK apartment!
However, it is the villas in Bangalore and Hyderabad that come through as a plush buy. Lavelle Road in Bangalore was found to be a much sought after address. Villas in Purva Grande located on Lavelle Road, Central Bangalore are commanding a premium owing to their strategic location. With prices starting at Rs 10 crore, the villas are replete with all leisurely comforts, including terrace pools and gardens. Occupants in another project on Lavelle Road — Mantri Altius by Mantri Developers were chosen personally by the realtor based on factors such as similar interests and non-competing businesses. The 17-floor super premium apartment occupies a built-up area of 85,000 sq ft in a prime locality in the city. Each apartment boasts of a 360-degree view of the city and security arrangements include biometric sensors, sirens and proximity cards. No wonder that the 5,000-6,000 sq ft apartments are in the range of Rs 10 crore upwards.
It’s a touch of Spain in Hyderabad that makes for some royal living. Spanish luxury villas Casa Estebana, developed by Koncept Ambience, are located in Kompally which is witnessing significant residential development primarily in the villa category. With prices starting at Rs 6.5 crore and
going up to Rs 17 crore, unique facilities such as a personal grooming centre, specialty restaurant, manicured landscaping with tree-lined streets and amphitheatre make it exclusive enough. An artificial lake with marine life and natural habitat for birds connect you with nature.
Chennai is no different. And as if taking the nature theme forward, Vijayshanthi Builders’ Raintree project in Alwarpet area in Central Chennai priced upwards of Rs 3 crore, features well landscaped surroundings with large water bodies. A skating rink, multi-purpose hall, water bodies and a
covered car park are some of the other elaborate amenities on offer here.
Besides luxury apartments, independent houses in Boat Club, Venus Colony, Poes Garden, Kotturpuram are preferred luxury residential areas.
Capital values range between Rs 15,000 per sq ft and Rs 25,000 per sq ft, with sizes above 4000-6000 sq ft. Tucked away from heavy traffic, these areas offer serene living. Spacious gardens, barbecue corners, entertainment areas in the garden and patios are additional features making these
houses much sought after. Majestic and palatial — these luxury residences are a dream buy. Exquisite facilities and charming decor basics makes them absolutely priceless.
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What Women Want-Luxury !!

Luxury perfumes are a must-have in your accessory list. Splurge on these fragrant buys
DISCOVERt he mesmerising fragrance of luxury perfumes. Featuring aromatic accents of rose, jasmine, lavendar,violet and many others, these are a must-have in your accessory list. Brands such as Moschino, Lancome and Fendi have some interesting new ranges in store for women. And they don’t just smell good….they look good too
with their unique packaging features.
Moschino’s ‘Hippy Fizz’ perfume is the new perfume from the Moschino Chic and Cheap line. Notes of raspberry leaves, rose, violet, magnolia and lotus make it a good buy. Even the bottle reflects the feminine element with its bright pink cap vibrant against the yellow and bright flowers on the bottle. ‘I Love Love,’ from the same line is as lovely with the explosion of colours and the amusing graffiti on the bottle.
Eau Vitamanee by luxury cosmetics brand Lancome is a unique cocktail of citrus fruit. The musky floral note,consisting of freesia, white lily and white musk, gives the fragrance an opulent dimension teamed with its long-wearing and residual qualities. For a mood enhancing fragrance, choose Eau d’Energie, a scented body spray which is fruity and soft. With 27% natural essences of sun-ripened fruit, the perfume is a concentrate of natural active ingredients with energizing elements. And if there is something simple and sophisticated that you are looking for, the brand’s Miracle perfume reflects the splendour of magnolias in stunning style.
Fendi’s new perfume, Fendi Palazzo is fancy and feminine. Notes of rose, orange blossom, bergamot, pink pepper and lemon lend charm to the fragrance. Infact Palazzo signifies more than just a name. Situated in the vibrant heart of Rome, Palazzo Fendi or the Fendi Palace lends the bottle its beautiful architecture. Its beauty lies in the contrast of the classic simplicity of a rectangular body and Baroque style with the top of the structure struck with a double ‘F.’ The façade of Palazzo Fendi, the brand’s home in Rome, is illustrated on the back of the bottle. Splurge on these fragrant buys. And enjoy
all the admirable glances that come your way

Service sector to give more revenue

The contribution of service tax to the country’s GDP is quite low at 1.1 per cent and the government expects to get more
revenue from this sector in future, a top official said.
Contribution of the service sector in the GDP is 56 per cent but the share of the service tax in the GDP is just 1.1 per cent,
Chairman of Central Board of Excise and Customs (CBEC), P C Jha, said here last night.
Jha said the service tax revenue is growing at a rapid pace, in 1994, service tax was imposed on three services and the rate of
duty then was five per cent, with service tax revenue at Rs 410 crore with 3900 service tax payers. Now, 106 services come
under tax and the rate of tax has gone up to 12.36 per cent.
The number of service tax players in the country now has gone up to 5.5 lakh and the service tax collection in 2007-08 was
51,113 crore. In spite of this rapid growth, the contribution of service tax to the GDP is only 1.1 per cent.
For the current year, the target for collection of service tax is Rs 64,460 crore, he said, adding, the department’s expectation is
that it would be exceeded.

Dhoni On Number One

India captain Mahendra Singh Dhoni retained his place at the top of the batting chart while teammate Zaheer Khan stormed into the top 20 of the ICC ODI bowlers’ rankings issued on Saturday.

Dhoni, who had toppled his South African counterpart Graeme Smith off the top spot on August 28, maintained a 21-point lead from the Protea skipper with 793. They were followed by Australia captain Ricky Ponting, his teammate Mike Hussey and Pakistani Md Yousuf.

The 27-year-old from Jharkhand was the leading run-scorer in the five-match series against Sri Lanka with 193 runs which helped him displace Smith.

Dhoni, who won the player-of-the-series award, was also on top of the batting list for a week in April 2006 and is the first Indian batsman to head the batting chart since Sachin Tendulkar.

Tendulkar, however, has dropped three places to ninth after missing the series in Sri Lanka because of an elbow injury. A player loses one per cent of his rating for missing every match.

Struggling Yuvraj Singh is the third Indian batsmen in the top 20 but the left-hander has dropped three places after scoring just 72 runs in the series and shares 18th position with England’s Ian Bell.

Besides Dhoni, Suresh Raina is the only other Indian to improve his batting ranking. The 21-year-old left-hander scored 157 runs in the series and was rewarded by rising 18 places to 35th position.

Virender Sehwag, who missed the ODI series due to an ankle injury, stays in 29th place but his opening partner Gautam Gambhir has dropped six places to 28th after scoring just 36 runs in the series.

In the bowler’s chart, headed by Australian Nathan Bracken, Zaheer is the highest ranked Indian at 14th place. The 29-year-old left-armer took nine wickets in the series and has stormed into the top 20 after jumping eight places.

Off-spinner Harbhajan Singh improved his ranking by six places and now sits in 23rd position. Meanwhile, England’s Andrew Flintoff has struck gold in the latest rankings. The Lancastrian has surged to the top of ODI all-rounders after jumping six places. The 30-year-old achieved the feat after climbing 10 places to 38th in the batting list and moving up four places to 13th position in the bowling chart.

Brand Value In Luxury Market

Emporio, home to 90 top-of-the-line brands, comes as a delight for the uber rich craving for luxury products .
LUXURY has a new address. DLF’s luxury mall, Emporio, in the capital has created a 3.38 lakh square-feet home for luxury brands in the country. For years, luxury brands in India have been limited to small confines within the five-star hotels. Less traffic in hotels and a limited scale of operation has always posed a problem for these brands. But Emporio, set to be open soon to public, comes as a delight for the uber rich who craved luxury watches, handbags, shoes and other lifestyle products,
but had a limited choice in the past.
What attracts you even before stepping inside the mall is the building itself. The huge display of brand names such as Louis Vuitton, Dior and Burberry on the glass panels add to the pull factor.
Inside, it is 90 top-of-the-line brands, four levels and plenty of visual delights that Emporio brings for the luxury-starved consumer. As you enter the mall on a dry August day, the Mughal fountain teamed with an artistic display of plants gives a soothing and cool effect. The champagne coloured Italian marble and mosaic floor sparkle, lends an opulent yet elegant look to the mall. Nothing is over the top. Designed by architect Mohit Gujral, the mall has four floors that include spa, wine bar,atrium lounge and restaurants along with the shops. The interiors have been done in burnished wood with brass detailing.
Even the washrooms reflect the rich ‘n’ royal look and are spacious in themselves. Undoubtedly, every detail has been treated with careful attention in the mall.
Rentals, not surprisingly, are steep here. Retail rentals here can be between Rs 1,200-Rs 2,000/ sq ft, say sources. And while not all of these are open yet, some of the stores on the upper ground and first floor are ready for business.
Emporio has brought almost all the world’s luxury brands together under one roof. There are brands such as Cartier,Tod’s, Dolce & Gabbana, Louis Vuitton, Dior, Tiffany’s, Zegna, Paul Smith, Versace, Jimmy Choo, Burberry, La Perla, Hugo Boss and Escada apart from the famous Indian fashion designers such as Rohit Bal, Rina Dhaka, Tarun Tahliani, Abu and Sandeep Khosla, Ranna Gill et al. Several product categories jostle for a dekko, including apparel and fashion, accessories,watches, perfume, jewellery and lifestyle.
And it’s not just fashion or luxury that Emporio limits itself to. The dining arrangements, too, are classy. Terrace cafes,restaurants or confectionaries — the options are aplenty here. It’s like stepping into another realm — magnificent and majestic. The luxury customer need look no further. She can experience luxury’s one-stop-destination on her home turf

Supreme Court defines who’s an idiot

Idiot’ is a grossly misused word and an oversimplified epithet, if one goes by the Supreme Court’s brand
new definition of the term. It is almost impossible for a person to qualify as an idiot, says the Court and therefore, few can expect to get a reprieve for an offence.
To be legally accepted as an ‘idiot’, one has to be so dumb as to be unable to count till 20, list the days of the week, or fail to remember the names of one’s parents, the Court said on Friday.
Under Section 84 of the Indian Penal Code, a person is not liable to be prosecuted if they are of unsound mind, or incapable of comprehending the nature of the criminal act and the fact that it is against the law.
The Supreme Court identified just four kinds of people who could be classified mentally unsound — idiots, the very ill,lunatics and drunks.
“An idiot is one who is of non-sane memory from his birth, by a perpetual infirmity, without lucid intervals: and those are said to be idiots who cannot count 20, or tell the days of the week or who do not know their fathers or mothers or the like,” said the judgement by Justices Arijit Pasayat and M K Sharma. They added that it was for the accused to prove they were idiots or otherwise of unsound mind.
The court was dealing with a case from Madhya Pradesh where Hari Singh Gond murdered his grandfather-in-law and then claimed innocence on the grounds of idiocy. The Bench affirmed the lower court orders convicting Gond for the murder.
If the investigating agency came across a history of insanity, it was duty-bound to subject the accused to a medical examination, the judges said. If a medical examination is not done “the benefit of doubt has to be given to the accused”, the judges said.
The MP trial court had refused to accept the accused was mentally unsound even though eyewitnesses reported he behaved in an unusual fashion at the time. Friday’s judgement differentiated between a defendant of unsound mind and mere absence of motive.
“Mere absence of motive for a crime cannot, in the absence of plea and proof of legal insanity, bring the case within Section 84,” it said. “Mere abnormality of mind or partial delusion, irresistible impulse or compulsive behaviour of a psychopath affords no protection under Section 84,” the SC added, affirming the earlier court orders convicting Gond for the murder.

India set to export record quantity of basmati rice

india-emerging-market

India looks set to export a record quantity of basmati rice in the current fiscal. Last month, the official agency monitoring the export of basmati rice issued 658 registration-cum-allocation certificates (RCAC) to traders, enabling them to export 165,148 tonnes of basmati rice worth $252 million (Rs.10.08 billion). In July last year, by contrast, the Agricultural and Processed Food Products Export Development Authority (APEDA) had issued only 412 RCACs for exporting 84,926 tonnes of basmati rice. RCAC is a mandatory official approval traders have to acquire for exporting basmati rice. “There is an ever increasing demand for Indian basmati rice, known for superior quality,” Asit Tripathy, chairman and managing director of APEDA, told. “In terms of quality, Indian basmati is matchless. Our quality monitoring and delivery mechanism are good, giving us an edge in the world market,” he said. Some of the major importers of Indian basmati are Saudi Arabia, Kuwait, the UAE, Britain, the US, Yemen, Canada, Iran, Germany, Oman, South Africa, France, Syria, Belgium, Australia and Germany. APEDA data shows Saudi Arabia imported 499,584 tonnes, Kuwait 109,067 tonnes and the UAE 104,998 tonnes of Indian basmati in 2006-07. Though in smaller quantities, Indian basmati has also found takers in Uganda, Angola, Congo, Botswana, Fiji, Ghana, Cameroon, Zambia, Romania, Chile and Suriname. India has around 53 per cent share in the global basmati market, and efforts such as buyer-seller meets, and increasing number of trade delegations abroad are being taken to expand the consumer base. Tripathy said between April and July this year, 3,242 RCACs for the export of 904,317 tonnes of basmati were issued, against 1,666 RCACs for 412,103 tonnes in the last corresponding period. It seems the government’s March 31 decision to increase minimum export price (MEP) for basmati to $1,200 per tonne has not impacted global demand for the commodity. “Almost 90 per cent RACs are honoured. As of now, we do not see any reason for a slowdown in the export of basmati rice,” said Navneesh Sharma, deputy general manager, APEDA. At present, basmati is exported to over 130 countries, and the government hopes to tap the huge markets of China and Mexico in a couple of years. “Efforts are on to enter the market of China and Mexico as well,” said Tripathy. As a trial, India had exported 54 tonnes of basmati to China in 2006-07. APEDA’s assessment says India’s export of basmati is increasing 20-30 percent every year. Exports jumped from 848,919 tonnes to 1.05 million tonnes in 2006-07. India had exported 597,793 tonnes in 1998-99. The government has set a production target of 129 million tonnes of basmati and non-basmati rice by 2011-12 on a growth rate of 3.7 percent along with other food grains.

Currency trading at NSE

NOT A FALSE
START
Currency derivatives trading got off to a curious start on Friday. Even as finance minister P Chidambaram rang the bell, the thread snapped! Finally, the FM had to ring the bell with his hands — not the kind of auspicious start you would have imagined. But in the actual ring, things were much better. Volumes were decent, backed by trade orders from banks and some brokerages.

Every Indian Will Go to mobile by 2012

Every 2nd Indian will go mobile by 2012
With India now adding 8-10 million mobile subscribers every month, up to half the nation’s population—or
one in every two citizens—will own a mobile phone in India by the middle of 2012.
According to Business Monitor International, a renowned London-based research firm, 612 million mobile
subscribers by 2012 will help India clock a mobile teledensity of roughly 51% by 2012. This scorching pace of growth is unlikely to falter unless the sector faces unforeseen policy disasters or if India’s operators fail to roll out their networks.
International Telecom Union’s (ITU) projections are in the same range.India is already the world’s second largest mobile market, behind China’s 500 plus million mobile subscriber base.
Increasing incomes, changing lifestyles and lower cost of technology are allowing more and more Indians to ride the telecom wave. The new numbers overtake earlier estimates, including from UBS, Citigroup and Credit Suisse,predicting a mobile population of 400-450 million by March 2010. Merrill Lynch and Lehman Brothers have been more even conservative, betting on a base of just 400 million by 2010.
However, India will reach this milestone in 2009 itself. India’s mobile revolution has been a huge social leveler, with the growing number of users tying a diverse nation in a manner rarely seen before.
Its youth are expected to contribute significantly to these surging numbers. Sir Richard Branson, founder, Virgin Group, which tied up with Tata Teleservices to launch branded services in India recently said, “An exciting market, with over 215 million Indians aged 14-25 years. Over the next three years we expect to be adding 50 million new youth subscribers.’’
While companies like Virgin are currently focused on the urban market, it is clear that the next set of growth will come from B and C category cities as well as rural India. Mobile penetration of this magnitude has the ability to revolutionalize long distance learning and health care quickly reaching some of the most far flung and difficult terrains.
Where mobile content is concerned most analysts agree that, largely on the back of India’s popular film industry,music services will grow very quickly, even if other content related revenue lags behind.
Given that a reasonable part of the population by 2010 will be children below 14 and senior citizens, it seems mobile access among the youth and working classes will be more in the range of 70-80%. In policy terms, government needs to quickly turn its focus on redirecting funds for rural mobile access, manage spectrum efficiently and invite multi-billion dollar investments at a pan-India level to fuel this already scorching telecom growth.

Now life insurance for 40% less

MUMBAI: Life protection has become far more affordable. The cost of
life insurance has come down by up to 40%, with Insurance
Regulatory and Development Authority (IRDA) reducing the capital
that insurance companies need to sell term policies. For the second
time since the liberalisation of the insurance industry in 2000, there
has been a dramatic reduction in term-insurance rates, making life
protection a great deal cheaper.
Term policies are purely life covers as against endowment policies,
which have a sizeable savings component. While the premium for
endowment policies will also soften, the benefit will be more apparent
on term covers.
Among private life insurance companies, Kotak Life has announced
new rates, while newcomer Aegon Religare has announced term
rates, which, the company says, are the lowest in the industry.
Largest private life insurance company ICICI Prudential Life Insurance
is in the process of lodging new rates. The chief of Life Insurance
Corporation of India (LIC), the largest insurer in the country, said the
Corporation may review its term rates.
Kotak Life Insurance managing director Gaurang Shah said: “Two
developments have led us to reduce our rates. First, we had the
opportunity to review our own claims experience, since we introduced
preferred term for non-smokers six years ago. Also, the revised
solvency margin requirement introduced by IRDA in March has
brought down capital requirement by almost two-thirds, which has
helped bring down rates.”
Aegon Religare Life Insurance, which launched operations earlier this
month, has decided to use competitive pricing on term rates as an
edge. “We had decided to introduce a product with the lowest rate,
which is also supported by our campaign. Given our pricing, it is
possible for a 30-year old to get a Rs 10-lakh cover at only Rs 166 a
month,” said Aegon Religare Life Insurance CEO Rajiv Jamkhedkar.
When contacted, LIC chairman TS Vijayan said LIC was constantly
reviewing its term rates to retain its competitive advantage and any
improvement in mortality was always passed on in the form of lower
term rates.
In a statement issued here, Kotak Mahindra Old Mutual Life Insurance
said the new rates were almost 40% lower than the old rates. “The
rate reduction is partly as a result of the reduced solvency margin
requirements laid down by IRDA. A key player in both the group term
life and individual term life businesses, Kotak Life Insurance is among
the first life insurance companies to pass on this benefit to the
consumer,” the statement said.
However, agents of insurance companies said it is not always possible
to get the standard rates. It is very rare for a person to get standard
rates above the age of 40 with a few private companies, since these
companies have a very narrow range for various parameters defining
good health. These parameters include weight, blood pressure and
abdominal girth, among other things.