India's biggest commercial realty deal at BKC

‘Result too large to display’. As mobile phone calculators flashed this message, over two dozen people assembled outside the sixth floor conference room at the MMRDA headquarters scrambled to make sense of the mind-boggling bids for three plots in the Bandra-Kurla Complex (BKC) on Monday evening, reports the Times of India.

It took minutes of brain-wracking to finally realise that India’s biggest commercial land deal had just been struck, leaving the Mumbai Metropolitan Region Development Authority (MMRDA) richer by Rs 2,790 crore. TOI in its Monday edition had predicted that these plots would fetch nothing less than Rs 2,500 crore.

The three plots totalling barely six acres in size, are mainly reserved for commercial/office space and a car park. Bidders who won each of the three plots are Mukesh Ambani’s Reliance Industries, the Wadhwa Group and a joint venture between Purnendu Chatterjee promoted-TCG Urban Infrastructure and Hiranandani Group.

But what sent shock waves in the real estate industry was the phenomenal price quoted by the Wadhwa Group for plot no C-70 behind ICICI building in BKC. The less than two-acre land fetched Rs 831 crore or Rs 5.04 lakh per sq m.

This is almost two-and-a-half times the reserve price of Rs 1.53 lakh per sq m set up by the MMRDA. Wadhwa’s bid works out to Rs 46,800 a square foot. Real estate sector experts say this is by far the largest amount per square foot for the purchase of commercial property in the country. In comparison, the current property prices in the BKC for a finished office space is Rs 35,000 a square foot.

To put the stunning price paid in perspective, Wadhwas have paid well over Rs 400 crore an acre whereas Reliance Industries had paid a shade less than Rs 60 crore an acre for the last mega deal at BKC (in January 2006).

‘‘We paid this price because of the strategic location surrounded by garden from three sides. It is a peaceful environment,’’ said Vijay Wadhwa, promoter of the Wadhwa Group, in a late night SMS to this newspaper.

Earlier in the evening, Wadhwa told TOI that he is looking at a profit margin of about 10-15%. ‘‘We already have committed clients including multinationals and diamond merchants, who missed the bus in booking space in the upcoming Bharat Diamond Bourse in BKC. We will sell the building outright once its constructed,’’ he said.

‘‘We are not surprised by these rates. There is tremendous demand for good quality office space in BKC,’’ said Roopesh Kaul, chief operating officer of the Maker Group.

How to choose exterior home colors

Transcript
How to Choose Exterior Paint Colors
Hi! I'm Jackie Craven, a Guide to architecture at About.com. Grab a color wheel or some paint swatches. Today were gonna pick new colors for your house.
Choose Paint Colors That Compliment the Roof
Begin with colors suggested by your roof. Your house doesn't have to match the roof, but it should harmonize. Also consider other features you don't plan to paint, such as masonry or vinyl windows.
Coincide the Colors With Surrounding Houses
Choose colors that coordinate with buildings around you. My neighbor's house here is golden rust. I need colors that don't clash.
Consider Matching Outdoor Paint With Interiors
The colors you've used for interior room may suggest ideas for colors outside your house. I like the green in this sofa cushion.
Use a Historic Paint Color Chart
If you're painting an older home, you may want to select colors from a historic color chart. Or you can try to find out what colors were used on your house before you moved in. According to old photos my house was painted dark green and white. For a while, it was boring beige final siding.
Try Painting With Various Shades
Most houses use at least three different colors: one for the siding, and two or more for trim and accents such as doors, railings, and window sashes. Darker colors are great for accenting recess spaces and window sashes. Lighter colors will highlight details that project from the walls surface.

Don't be afraid to experiment with color combinations. You can use a virtual painting program to preview your house colors. Or, you can photo copy a sketch of your house and try different color combinations.
Test the Paint on Your House
Before you buy gallons of paint, test a spot to see if you like the color. I don't know, this looks pretty blah to me, I need a darker color for this house. Be sure to look at the colors at different times of the day.
Choose Paint Sheen
You thought you only had to pick colors? Sorry, in addition, you'll also have to decide on the sheen of your paint. Glossy, semi or soft gloss, or flat. I like to use a glossy finish for columns and window sashes and a soft gloss for siding. Its so easy to clean.

And here it is! Thanks for watching. To learn more visit us at about.com.

Making green choices when you paint

Painting is of the quickest ways to give your home a new look. Whether it's just a bathroom or the whole house, it's an easy way to remodel. Now you can make environmentally-sound choices when you select the paint for your next project.

Choose a low or no-VOC paint

VOCs (volatile organic compounds) are the fumes that you smell while you paint, and sometimes several days after. A VOC is an organic chemical that becomes a breathable gas at room temperature. Some examples are benzene, ethylene glycol, vinyl chloride and mercury.

VOCs in paint usually come from additives to the paint, such as fungicides, biocides, color, and spreadability agents. High levels of VOCs in paints can cause headaches, allergic reactions, and health problems in the very old, very young and in those with chronic illnesses.

Concerns about air pollution and hazardous waste have greatly reduced the use of oil-based paints which can release high amounts of VOCs and contain toxic solvents. Alkyd-based paints and latex paints are much safer, but some still have high levels of VOCs.

Because of health and safety concerns, paint manufacturers around the country have made great strides in formulating paints that have no or low-VOCs and that provide excellent results.

Ask question, read labels

When buying paint, work with a knowledgeable paint representative at your local paint or hardware store. Seek out someone that can answer questions about environmental concerns as well as offer application advice. Let your paint representative know that you want to use no VOC paint, or the lowest VOC paint available. If you plan to hire a painting contractor, specify that no or low-VOC paints be used.

You can determine the VOC content of paint by reading the label. It is usually expressed in terms of grams per liter. The most environmentally-friendly choice is to buy a paint with no VOC's. But if the paint you need for the job contains VOCs, try to choose a paint no higher than 250 grams per liter for latex, and if you must use oil-based paint, no higher than 380 grams per liter. These numbers are usually on the label or on the official product literature. If these numbers are not available, consider choosing another brand.

Painting tips

If the paint you choose does contain some VOCs, there are ways to lessen their impact on the air quality in your home. Below are some helpful hints:

• Make sure your work area is well ventilated with outside air. Use a fan to make sure that fresh, outside air is continually moving into and out of your work area.
• If possible, leave the house for a while after you paint. Keep the area vented to the outside while you are gone.
• If you cannot leave, try to stay out the painted rooms for along as possible. Shut the doors and the air ducts, and open the windows to that area.

Proper clean-up and disposal of paint

Proper disposal of paint protects you, garbage collection workers, and the environment.

If you've used latex paint, wash brushes and rollers in the sink with soap and warm water. Don't rinse your brushes on the grass or in the gutter-it could end up in a nearby creek where it could harm fish and wildlife. Take the lids off of any empty latex paint cans and let them dry, then throw these into the trash with the lids off. If you have paint left, check with neighbors to see if they need any.

How to survive home remodeling

You're about to tear out walls, add new plumbing or perhaps even add a new room. How will you survive the rubble and confusion? These tips will help you keep your construction project going smoothly.

Here's How:

1. Review the contract with your contractor. Make sure everyone agrees on the work that will be completed and how long it will take. Also be clear on the types of materials that will -- and will not -- be used.
2. Find out what days and hours work will be conducted. Will carpenters show up on Saturday? Will plumbers ring your doorbell at 7 am?
3. You may need to give out keys to your home. Find out which worker will be responsible.
4. To avoid confusion, choose one person in your family to act as spokesperson.
5. Store your stuff. What cannot be stored, cover with dropcloths.
6. Prevent plaster dust from spreading. Hang plastic sheets over doorways to work areas.
7. Show workers which bathroom to use and where to wash brushes.
8. Lay ground rules. Let workers know whether they can use your telephone. Remind them to keep the volume on their radios down. Tell workers where they can -- and cannot -- park their trucks.
9. Create a space for worker's tools and supplies. Consider setting up a coffee pot for workers.
10. Preserve one part of your home as a work-free zone where you can live comfortably.
11. Try to stay out of the work area.
12. Check materials and fixtures before they are installed. Once the chandelier is hung, it may be too late to change it.
13. Workers may need to turn off power or water for some jobs. Plan ahead.
14. Expect delays. Your workers may encounter unforeseen problems. Materials may not arrive on time. One missing worker may throw the construction off schedule.
15. When requesting changes, go through your architect. If you do not have an architect, speak to the General Contractor or supervisor.

(via About.com)

Trump Jr. urges developers to think 'location, location, brand'

Trump was speaking in Mumbai on the opening day of Cityscape India, the latest in a series of sister events around the world that have spun off from the success of Cityscape Dubai and now the world's biggest business-to-business real estate brand reports AmeInfo. The first Indian event has attracted major participation by Middle East companies.

Trump stressed that the key challenge for Indian property developers is to ensure they continue to meet the expectations of high net-worth global investors. 'Owners and developers must understand the mindset of prospective investors and offer unique and attractive real estate developments in a secure and transparent investment environment.'

He added: 'High-end luxury gets into the best locations. Premium quality brands get premium quality returns. Investors are more willing to play for high stakes if the risk is minimal.'

It has been well documented that the sub-prime crisis could cause write downs of over US$400 billion in bad loans, sending property prices plummeting in the USA and dampening investor confidence in Ireland, UK, Spain and Australasia. In sharp contrast, the case for real estate growth in India is undeniable. Its annual GDP is currently 9%, allied with a population of 1.2 billion people which is swelling at a rate of 1.4% per annum.

'Put simply, that's an additional 16.8 million people annually adding to the surging demand for infrastructure, housing, schools, hospitals, retail as well as hospitality and commercial property,' said Rohan Marwaha, Managing Director, Cityscape. 'With many property markets around the world already depressed or on the cusp of recession, India offers ideal investment opportunities now and for the foreseeable future, unaffected by the lack of confidence or the impending credit squeeze.'

Running concurrently with the three-day exhibition, the Cityscape conference also examined, development and investment hotspots in India, joint ventures, a legal and regulatory update and financing options. Contributions were made by top industry figures from key organisations including, Raheja Universal, Unitech Group, Shipra Estate and Walton Street Capital.

Venus Flytrap inspired lenses may lead to new adhesives, optics, coatings

Inspired by the way a Venus flytrap captures its prey, Alfred Crosby and his doctoral candidate Douglas Holmes created a polymer surface covered with small holes capped by thin lenses of the same material, reports ScienceDaily. The lenses can snap between convex and concave when triggered.

Venus flytrap leaflets work in a similar way. Through a combination of geometry and materials selection, the flytrap leaflets snap from concave to convex when an object triggers their hairs. The key to the flytrap’s ability to capture prey, and a key feature in Crosby and Holmes’ material, is the speed and sensitivity that accompany a “snap” transition. For the Venus flytrap, the transition occurs in roughly 100 milliseconds, and the “snapping surfaces” can snap at least as fast as 30 milliseconds. Even more important is the fact that this speed can be easily adapted for faster or slower transitions depending on the final use.

This “snap” transition changes the surface of the material from a series of mounds to a series of depressions, a strategy that has great potential for creating release-on-command coatings, “smart” adhesives, adaptable optical devices or surfaces with responsive reflective properties.

“This material’s design could allow for the removal of superglues, wallpaper and paints without toxic solvents, which would be an advantage for the environment,” says Crosby.

The connection to controlling adhesion with the responsive “snapping” surfaces is fueled by another project in Crosby’s research group that is focused on understanding and mimicking the gecko, a small lizard with pattern-covered toes that provide enhanced adhesion and release properties. The “snapping surfaces,” which are really Venus flytrap-gecko hybrids, can be turned into smart adhesives by covering the lenses with hairs that adhere in the convex position and release when the lenses are concave.

“This novel surface has many advantages over existing shape-memory polymers,” says Crosby. “The snap-through transition is caused by an elastic instability; therefore it requires very small amounts of energy to initiate large changes in geometry. The transition can also be limited to one lens or the entire sheet.”

Currently Crosby and Holmes have demonstrated mechanical pressure, swelling and surface chemistry as triggers for the “snap” transition. “Using different materials may lead to surfaces that transition in response to heat, light and voltage, and changing the size scale permits use in electronics and nanodevices,” says Crosby. “There is no physical reason that we can’t go down to the nanometer scale. That is what we are currently researching.”

2007 Aga Khan Award for Architecture

Within the constraints of a developer-driven brief, the Moulmein Rise Residential Tower uses innovative techniques and detailing that combine new principles for tropical design and improvements for high-rise living. Wong Mun Summ and Richard Hassell, partners at the Singapore firm WOHA Architects will receive the Award.