Inauguration of Brigade Millennium Road...I had always felt that this was a very good project and itdid take someone with your tenacity and commitment tocomplete it, despite facing many constraints in theprocess. Well done. Congratulations.— Lakshmi VenkatachalamPrincipal Secretary, Govt of Karnataka, Department of Urban DevptI am extremely glad that despite many hurdles, you havereached the inauguration of the Millennium Road. Yourpatience and perseverance is fully paid off. Lovelynewsletter. So impressed with the contents. Superbthought of bringing out the CD of those immortalsongs.— A. Balakrishna HegdePresident, Karnataka Ownership Apartments Promoters AssociationOur 2007 Calendar'Magical Mysore', the Brigadecalendar for 2007, wasreleased on 15 December,by Mr Kumar Naik, IAS,Commissioner of theDepartment of Tourism. Thisyear’s calendar takes a journey to the royal cityand its exciting environs. And captures the spiritof its history, architecture, literary inheritance,tradition and festivals through vibrantphotographs by renowned photographers,accompanied by succinct write-ups.The featured pictures have been selectedfrom the portfolios of distinguishedphotographers like T.N.A. Perumal, T.S. Satyan,Dr Manoj Sindagi, H. Satish and MahendraSimmha, to name a few.On the completion of 20 years...Please accept my congratulations on the completion of20 years. I wish you continued success.— N.R. Narayana MurthyChairman and Chief Mentor, Infosys, BangaloreThe gift sent, commemorating the 20th anniversary ofBrigade, was highly scintillating and the CD containing 20classic Hindi film songs carefully chosen was not onlymelodious, but also echoed the goodwill andcustomer-centric approach of the Brigade Group. I wouldlove to cherish the memory and the sentiments conveyedforever.— R. GaneshanResident, Brigade GardeniaContd from Pg 1...Brigade Millennium Rd inauguratedBrigade had taken the initiative to develop thefurther extension of the 24th Main Road as partof our corporate social responsibility initiative.An investment of Rs 300 lakh+ went into thedevelopment of the road, as per National Highwaystandards. The new road is 2.3 km long and 50 ftto 65 ft wide.An example of Public Private Participation(PPP), it is a dream come true for residents ofthe area. The new road provides a faster andsmoother access for anyone commuting to andfrom 7th and 8th phase, J.P. Nagar.Residents of the region will be happy that thetank bund road in the vicinity, which was in astate of total disrepair, is now under construction,and will be inaugurated shortly.Brigade Metropolissets safety recordWorkers at the Brigade Metropolis site celebratedthe completion of 3 million accident-free manhours on 6 January. The 4th Safety Awards weregiven to the team on the same day.Mr S.K. Garg—Deputy General Manager,ACIL, and Mr N. Sridhar—FABS, congratulatedthe site members on achieving this commendablemilestone. They spoke about the need for suchsafety systems, especially for work that is carriedout at great heights, the importance of personalprotective equipment and team work to ensurezero accidents.Our project offices winlandscaping award(Right of the trophy), Horace Machado, B.C. Suresh andByregowda of Brigade receiving the landscaping awardThe landscaped gardens at the project offices ofBrigade Metropolis and Brigade Gateway enclaveswon the first prize in the garden competition atBangalore. The competition was conducted bythe Department of Horticulture and the MysoreHorticultural Society, Lalbagh, during the IndianRepublic Day Horticultural Shows—January 2007.The prizes were distributed on 24 January, at theGolden Jubilee Hall, Lalbagh, Bangalore.(L to R) Mr Kumar Naik, IAS; M.R. Jaishankar and Vineet Verma,CEO Brigade Hospitality, at the calender inauguration functionReverse mortgage: a blessing to senior citizensThe concept of reverse mortgage loans hasbeen common in the west for some time. It isnow set to take off with the National HousingBank (NHB)—a subsidiary of the Reserve Bankof India—unveiling draft norms for reversemortgage loans.This comes as a blessing to senior citizenswho would like to invest in real estate. Withreverse mortgage loans, senior citizens will beable to mortgage their residential property toa bank or a housing finance company whileretaining the right to stay. The house owner whomortgages will get a steady income to meetold age exigencies. Making it very convenientfor any senior citizen interested in investing in ahouse. Citizens above the age of 60 are allowedto seek loans of up to 60% of the value of theproperty, which they need not repay. For moreinformation, contact your bank, housing financeinstitution or Punjab National Bank.—The Times of India, 19 AprilBrigade Jasmine is a new addition to the Brigade Gardenia campus.It introduces an innovative concept in urban living: an entire block ofspacious, one-bedroom apartments, with excellent common facilities.AT BRIGADE JASMINE: • LOUNGE • TV AND READING ROOMS • INDOOR PARTY AREAON CAMPUS: • TENNIS AND BASKETBALL COURTS • PARK AND PLAYAT AUGUSTA CLUB: • BILLIARDS • SQUASH AND BADMINTON COURTS • SWIMMINGPOOL • INDOOR GAMES • CAROM AND CARDS ROOM • HEALTH CLUB • GYM• LOUNGE AND PARTY AREA • COFFEE SHOPCome, discover Brigade Jasmine today!Ph: +91-80-4018 2222 / 2200, +91-98804 05237sms: Brigade Jasmine to 6767 firstname.lastname@example.org
Construction in rapid progress at our enclavesSeen above is a view of the construction activity at Brigade Metropolis, WhitefieldRoad. The view shows the size and scale of structural work in the residential partof the enclave. Summit, the office facility is also under construction.Similarly, construction is in rapid progress on the various components of BrigadeGateway in the Malleswaram-Rajajinagar region—apartment wings, Orion Mall,North Star office tower, hotel, hospital, club and school.Nearing completion!Two of our projects, Brigade Paramounton Old Madras Road and Brigade Harmonyat Whitefield, are at an advanced stage ofconstruction.Exteriors work is in progress at both projects.Standard apartments are also ready for viewing.Construction is expected to be completed in thelast quarter of 2007.Brigade Paramount offers 2-and 3-bedroomluxury apartments with a clubhouse, swimmingpool and a landscaped central courtyard. BrigadeHarmony has exclusive 3-bedroom apartmentswith a roof-top swimming pool, clubhouse andextensive landscaping. A few apartments are stillavailable at both the projects.Continued from pg 1New projects in BangaloreBrigade Courtyard, located in HMT Layout,will offer 2- and 3-bedroom luxury apartments.Brigade Jasmine is located in the BrigadeGardenia enclave, J.P. Nagar. Now ready tooccupy, it introduces an innovative concept inurban living: an apartment block comprisingsolely of 1-bedroom apartments, supplementedwith enriching and convenient common facilities.Brigade Lakeview, BTM Layout, overlookingthe Madivala Lake, will have 3- and 4-bedroomapartments with large and airy rooms.Brigade PalmSprings is located at J.P. Nagar.It has exclusive 3-bedroom apartments with aclubhouse, swimming pool and landscaping.Artist’s impression of Brigade PalmSpringsBrigade Petunia, in the Jayanagar-Banashankari region, will have designer 3- and4-bedroom apartments.M Y S O R E3 new jewels in the crown• Eleven spacious 3-bedroom apartments• Just 3 apartments to a floor, overlooking lake• With a gym, rooftop swimming pool and garden areas.• Set in an elegant residential neighbourhood.Corp. HQ (WEEKDAYS): +91-80-41379200 sms: Brigade Lakeview to 6767 brigadegroup.comArtist’s impression of Brigade SolitaireWe held the groundbreaking ceremony for threenew projects on 15 April. Brigade Citadel, inYadavagiri, features 3- and 4-bedroom luxuryapartments. Brigade Horizon, in Siddharthalayout, offers 2- and 3-bedroom luxuryapartments. Brigade Solitaire, offering 2- and3-bedroom apartments, is located behind LalithaMahal Palace.
The Woodrose grows in both size and spiritThe Woodrose is already a yearold and has grown considerablyin size and spirit. Several newfacilities are functional now andthe bustle of activities continuesto increase. The Woodrose is alsonow affiliated to many clubs inSouth India as well as inMumbai, Pune and Indore.Events and entertainmentWith active participation from members and theirfamilies, and their ready enthusiasm in organisingactivities, The Woodrose is becoming livelier withevery passing month. The Woodrose 2007—theNew Year's Eve Bash—was a grand, gala event.Fashion BollywoodTheatre in South Bangalorefinds a new venueThe MLR ConventionCentre is becomingan important venuefor several theatreperformances in SouthBangalore. AshwinGidwani's popular play—Funny Thing CalledContd from page 1…Sheraton Bangalore...New Year’s eveScene from Funny Thing Called LoveLove—written and directed by Bharat Dabholkar,was staged at the convention centre's 500-seatauditorium. Co-sponsored by HSBC Premier, theplay featured well known theatre personalitiesfrom Mumbai like Vijoo Khote, Mangal Kenkre,Liladhar Kambli, Dimple Inamdar and Shivani.Another Ashwin Gidwani play, titledPunch-a-tantra, was also staged here. Writtenby Ayeesha Menon and directed by MandarChandawadkar, the play was well-received by arecord audience.The new 5-star hotel willbe connected to NorthStar and Orion Mall bysky bridges. Several suchbenchmark-setting elementshave come together atBrigade Gateway.The hotel will caterto the ever-growingArtist’s impressionaccommodation needs of the city. It will alsoservice the needs of corporations with offices inNorth Star.Apart from this, the hotel will favour medicaltourism by providing accommodation to visitorsto the Columbia Asia Hospital. The hotel isrepresentative of Brigade's endeavour to providea better quality of life in every way.Members welcomed theNew Year with foot-tappingmusic, fun and games, andprizes for lucky winners.Other events that havebeen organisedrange from ag l a m o r o u sFashion Showthat traced thechanging face of fashion inBollywood, to an Antaksharievening, several cultural programmes,and drawing and swimmingcontests for all age groups. Inaddition, significant occasions such as RepublicDay, Valentine's Day, Ugadi and Holi werecelebrated. Looking forward, among otheractivities being planned, the May Queen Ball willbe held in May, with members vying for the titlesof "May Queen", "May Princess" and "May Prince".Republic Day celebrationsNew facilitiesThe Barbecue area is now open for service! Itoffers members sumptuous barbecued snacksNow open: Brigade Homestead 2Serviced residence at Homestead 2, JayanagarAt MLR Convention Centre:• Banquet hall• Buffet hall• Auditorium• State-of-the-art kitchen• Guest rooms and suitesHospitalityand drinks in an elegant setting. The regalambience is perfectly complemented by soulfulghazals playing softly in the background.An environment that calms and nurturesawaits you at The Woodrose Spa. Services includeeverything from soothingaromatherapy sessions toa variety of rejuvenatingAyurvedic massages. TheSpa also offers specialpackages and free consultationby Dr Krishna,(Ayurveda).At The Woodrose:• Conference room• Boardroom• Terraced courtyard• Guest roomsBRIGADEPh: +91-80-4199 5999, 4024 2222, 4018 2222sms: Brigade MLR to 6767Memberships OpenWe are pleased to announce thatcorporate and individual membershipsto The Woodrose are open.For more informationand the application process, contact:+91-80-41995999or write to email@example.comBrigade Homestead 2, at Jayanagar, is fully operationalnow. It offers 34 serviced residences with a choice ofstudio, 1- and 2-bedroom apartments. Other facilities andservices include air-conditioned bedrooms, well-equippedkitchenettes, housekeeping, laundry, electronic safe lockers,broadband internet access and travel assistance. It alsofeatures a fully equipped gymnasium, indoor party area andan outlet of Café Coffee Day on the ground floor.We bring you two beautiful locations thatoffer multiple venues, services and accommodationoptions for a range ofoccasions…from a pre-wedding gatheringto an elaborate, three-day weddingcelebration or an intimate anniversaryparty.The MLR Convention Centre andThe Woodrose club together present asuite of delightful venues, with a uniquemodular plan and flexible services to caterto celebrations of every scale and size.Services offered:• Catering• Hiring of furniture• Decorations• Salonenquiry@woodroseclub.comCLUBS | CONVENTION CENTRE | HOTELS & RESORTS | SERVICED RESIDENCES
In conversation with Suresh Heblikar—Actor, Director, EnvironmentalistSURESH HEBLIKAR is acelebrated actor andfilm maker of Karnataka.He has won the StateAward for his movie‘Aaghaatha’, Nationaland State Awards for his‘Kaadina Benki’ and theprestigious InternationalOsiris Award for his‘Shepherds on theMove’.He is an equallypassionate environmentalist. Heblikar has madeshort films on subjects like solar energy, wildlife,lakes, the Western Ghats, conservation of greeneryand more. In 1998, Heblikar founded ‘Eco Watch’,an NGO that has been instrumental in “UrbanForest Development”, producing films and holdingeducative seminars on environmental issues.Brigade's association with Suresh Heblikarbegan with our participation in World Water Year2007, an Eco Watch initiative. Excerpted below isa free-wheeling conversation the Brigade Insightteam had with Suresh Heblikar.Can you tell us more about 'World WaterYear 2007' and the initiatives being taken?We are spreadingawareness about thewater shortage crisisreaction.through schools,corporates and themedia. We are alsomaking a short documentaryon pollutedground water. Weuse bore wells to tapthe ground water.Sewage and effluentsare dispatched tolakes, which in turncharge the groundwater with pollutedwater. This resultsin outbreaks ofillnesses. People are not aware of the chainThe book sponsored by Brigade andproduced by Eco Watch for theWorld Water Year campaignWhat can be done to save the city’s lakes?Lakes can be protected through 'Reeds BeltTreatment'. Reeds absorb and hold pollutants,leaving the lake water clean. We can periodicallycheck pollutant levels, clean the reeds belt andplant fresh reeds. It also absorbs foul odour.What can be done to maintain an ecologicalbalance in a rapidly urbanising world?I often say that all economic growth is at the costof the environment. In a few years, 50-60% ofthe population will be living in urban areas. Thisis a tremendous pressure. Because everythingthat we do—building houses and engines, cars,clothes—has to comefrom nature. More peopleare migrating to cities,making them congested.We need more greeneryand lung space.Bangalore's lakesact like air-conditioners,cooling warm air insummer and warmingcold air in winter. Thereare nearly 1,500 waterbodies in Bangalore. Theyneed to be rejuvenated.To maintain thebalance of ecology, 33%of any region must have a forest. We need toplant trees that can absorb more carbon dioxideand release oxygen. Eco Watch is involved in theprojects in almost all these areas. I feel the mostimportant thing is to teach children and spreadawareness.What is the solution to the plastic menace?Thick plastic used in milk sachets or carry bagsis recyclable for use in sports goods, toys, ducts,cables, irrigation pipes. Thin plastic is not easilyrecyclable. Unfortunately, it is the most used.We need to either add value to waste or convertwaste to value.There is technology available to shred andmix thin plastic with bitumen for use in makingroads. About 300 km of roads in Bangalore areprepared using this. But segregation of plastic inevery home is important. We have involved someschools and have asked children to collect thinplastic. This must happen on a much larger scale.What is your advice to builders and thoseliving in modern apartments?To the extent possible, builders should useeco-friendly architecture, spare 30% space forgreenery and create water bodies through rainwater harvesting. Residents should save waterand electricity. Use indoor plants which notonly absorb indoor pollutants but also producemore oxygen. Terrace gardens help in creating acooling effect.Suresh Heblikar with his son, Akshay (right), in conversation with Indira Sharma, VP Marketing andMathew Abraham, Sr Manager—Corporate Communications (left)What would you consider Eco Watch's mostsatisfying achievement?We were the first NGO to have implementeda major scheme of creating urban forests inBangalore.On Airport Road-Koramangala IntermediateRing Road, we are bringing up a 150-acre urbanforest. We have planted 50,000 trees withthe assistance of the Norwegian environmentprogramme and some government funding. Wehave involved thousands of students, corporatesand other professionals.In Belgaum, we have planted 270 speciesnative to the Western Ghats, in 30 acres of land.When it comes up fully, it will be like a tropicalrain forest. There is still a lot more to be achieved.
The academic year 2006-07 has been a year of many achievements for TheBrigade School. The most impressive and memorable achievements,highlighted below, show the variety of activities held over the past year.Outstanding students: The Brigade School students have participated invarious external exams and competitions and have come out with flyingcolours.Vinay Kumar Kola, of Class 10, was ranked 45th nationwide in theNational Talent Search Exam (NTSE). Vinay also received a medal for hisoutstanding performance in the ASSET exams and stood 2nd at the thirdNational IIT/PMT Olympiad (NIPO), an annual event conducted by Edusys, atNew Delhi. Another student of note at NIPO was Shraddha Muralidhar ofClass 4, who was ranked 12th nationwide and 1st in the state. She has alsotopped in many subjects. Shraddha has overcome a hearing disability toachieve all this and is a shining example to all the children of the school.Achievements of students outside the school is also a reflection of theefforts of the school staff. Students have won awards in events such asAthletics, Judo, Karate and Swimming—in State and National levelcompetitions. Another moment of great pride for the school was winningthe first Rolling Cup 2007, instituted by the Bangalore Chapter of Sahodaya,the association for CBSE schools.Cultural day: The annual cultural day was a kaleidoscope of the abundanttalent present within the student community. Eminent theatre personality,Mrs Arundhati Nag, was the befitting chief guest for the occasion. Theschool chooses a country or Indian State as the theme for the year, in aneffort towards creating global citizens without missing out on theirrootedness. We started with Karnataka for obvious reasons and manyparents—some moved to tears—commented on how it was a lesson evenfor them. The theme next year will be China, because it is our neighbour andis also in the news with the Olympic Games being held there next year.Field trips: Students have had adventurous, educative and enjoyable fieldtrips, and have participated in science and social science projects—whichcontribute to making learning lively and exciting.Githa Shankar, Chairperson, Brigade Foundation, gives away theBest House of the Year award to the Hoysala house. Principal Meera Raostands second from rightBest Class of the Year—Class 7 ANirupama Annadanam, Class 4 C,Best Student (Academics) andOutstanding Student of the YearShilpa Shenoy, Class 8 B, Best Student (Mind Space)A growing school: A new block is being constructed to house classes 11and 12, so that The Brigade School can cater to children from Nursery topre-college.The first school magazine, The Soaring Seagull, was released with greatfanfare and was highly appreciated by one and all.The staff of the school held a welcome lunch for new additions to theschool staff on the lawns of The Woodrose club. It was an afternoon ofsong and laughter and a well deserved break after months of hard work.Community development: To further Brigade Foundation's commitment tocommunity development, a new section for needy students is beingplanned. This section will provide the same academic inputs that the regularstudents receive. To make it a success, we seek the philanthropy ofassociates and well wishers.The Brigade School bids a fond farewell to its first outgoing batchO nanna chetana,aagu nee aniketanaThe first graduating class with the teachersThe first outgoing Captain,Sneha Ravikumar, gives herfarewell speechFor admission details, please contact us at:+91-80-4130 1390 or email us at:firstname.lastname@example.orgThe valedictorian for the year receivingthe Best Outgoing Student awardParents at the graduation ceremonyAt a moving graduation ceremony—held on8 February at the MLR Convention Centre,Brigade Millennium campus—The Brigade Schoolbid adieu to its first outgoing batch of students.Githa Shankar, Chairperson of the BrigadeFoundation, made the graduation address. MeeraRao, Principal, administered the pledge.Dr K. Kasturirangan, former Chairman ofISRO, Director of National Institute of AdvancedStudies and sitting MP of the Rajya Sabha, wasDr K. Kasturirangan addressingthe audiencethe Chief Guest at the ceremony. In his speech,he spoke of the benchmark-setting achievementsof young Indians in various fields today. He wenton to say that the goal should be to set excellentstandards for oneself, rather than strive to meetthe standards set by others.Amid cheers from fellow-students, the chiefguest presented the Best Outgoing Studentaward to Vinay Kumar Kola.Careerswith The Brigade SchoolWe believe in the concept of a 'neighbourhoodschool', and welcome those in the vicinity of J.P.Nagar interested in working with us, in various capacities.If you are looking for a fulfilling job in a stimulatingatmosphere, get in touch with us.Phone: +91-80-4130 1390email: email@example.com
PERIPHERAL RING ROADOUTER RING ROADPeripheral Ring Roadgets cabinet approvalBDA’s most ambitious Peripheral RingRoad (PRR) is expected to cost Rs 31 croreper km—the most expensive so far.The road will have underpasses andchangeovers of international standards.About 11.5 km away from the OuterRing Road, the PRR will connect TumkurRoad, Magadi Road, Mysore Road, BellaryRoad, Old Madras Road, Hosur Road andKanakapura Road. Phase 1, covering65 km, will be from Tumkur Road toHosur Road crossing, Bellary Road, OldMadras Road, Varthur Road and SarjapurRoad. It will require 1,980 acres of land.The 51 km Phase 2 stretch willconnect Hosur Road to Tumkur Roadcrossing Kanakapura Road, Mysore Roadand Magadi Road. The project will totallyrequire 3,532 acres of land.—Times News Network, 26 MarchSix laning of NH4:The Bangalore-Pune RoadThe Government has approved the six laning of6,500 km of National Highways comprising 5,700km in the Golden Quadrilateral and 800 km ofother sections having traffic more than 25,000PCU by December 2012. This will be donethrough Public Private Partnership (PPP) on aBuild, Operate and Transfer (BOT) basis.National Highway 4, from Pune to Bangalore,being a part of the Golden Quadrilateral, iscovered under the approval. Action on landacquisition and cost estimation is yet to beinitiated.—INR news, 14 MarchFDI's share in the domestic real estate markettouched about 26%, 10% higher than levels of16% for fiscal 2005-06. This is driven byincreasing demand for office space, particularly inthe IT and BPO sectors.According to the 'Study on the Future of RealEstate Investment in India' by AssociatedChambers of Commerce and Industry of India(ASSOCHAM), overseas investments will also funda greater share of SEZ and retail investments.ASSOCHAM says that currently the real estatemarket is growing at 30% per annum. Thedomestic real estate market which is presentlyestimated at US$ 16 billion will increase by over3½ times and touch US$ 60 billion by 2010. Theshare of foreign investments will be within therange of US$ 25-28 billion by 2010.FDI's share in Indian real estate touches 26%The study also indicates that the officeproperty market in India will witness a furtherboom. In the last two years, capital values of thecommercial office spaces have increased by 40%.India will have a demand-supply gap of 17.9million housing units by 2010. Capital values inthe residential sector have risen by about 25-40%p.a., in the last 2-3 years.The Chamber also holds that the number ofmalls in Kolkata, Mumbai, Bangalore, New Delhi,Hyderabad and Pune will grow to 300 innumbers by 2010 as against their presentstrength of 50.The retail market in India has been growingdue to increasing demand, higher disposableincomes and shortage of quality space. Thecapital appreciation in this sector is close to20-35% p.a. The organised retail segment isexpected to grow from a 2% to 20% by 2010.The SEZ is the new destination for real estateinvestors. According to ASSOCHAM, IT SEZ couldbe developed and made operational within aperiod of six months from the date ofnotification. Thus over 130 approved IT sectorSEZs would immediately result in an investmentof US$ 9 billion to US$ 12 billion resulting inmassive employment generation.The study also says that the flow of FDIs inthe Indian real estate sector has started growingas China's real estate market is reaching saturationand foreign investors prefer to invest infreehold land, which is available more freely inIndia.—INR news, 27 NovemberPROPERTIES WANTEDIn Bangalore, Mysore, Chennai,Hyderabad and KochiFor joint-development,outright purchase or long leaseWe require properties with clear titles (15,000 sft to manyacres), in prime residential, commercial and retail localitiesand suburbs.Please write with details including plot dimensions,location map, landmarks, road width, current land usage,applicable F.A.R. and expected commercial terms.DGM—Business Development, Brigade Group,Penthouse, Brigade Towers, Brigade Road, Bangalore 560 025Ph: +91-80-4137 9200 Fax: +91-80-2221 firstname.lastname@example.org brigadegroup.comNew Bangalore Airportand connecting roadsThe opening date of the newInternational Airport at Bangalore, Terminal building under construction (3 April)as fixed by M/s Bangalore International Ltd (BIAL), is 2 April 2008.The work on six laning of NH 7 linking Bangalore City with Devanahalli,where the new airport is being built, is complete except for two Railway OverBridges (ROBs), which are being constructed by the Railways. These too willbe ready by the end of the year 2007.—INR news, 13 MarchOffice absorption in Bangaloresurpasses previous recordAccording to research by DTZ, theGrade A and B leasehold officespace absorption in Bangalorecrossed 8.9 mn sft in the firstthree-quarters of 2006.According to the report, theIT/ITES sector accounts for over70% of total office spaceabsorbed in this quarter. RisingBrigade TechPark, Whitefielddemand from corporates and the IT/ITES sector has lead to an increase inrental values. The absorption figures for Bangalore are the highest in India.—INR news, 14 March
Service Tax• Renting of immovable property has now beenincluded as a taxable service.• Service tax rate has increased from 12.24%to 12.36% by levy of Secondary and HigherEducation Cess.• Threshold limit of Service Tax exemption hasbeen raised from 4 lakhs to 8 lakhs• Services provided by resident welfareassociations to members is exempt (wheremonthly contribution does not exceedRs 3,000 per month).• Works Contract: Service tax now includes theservice component of works contracts as anadditional service category, excluding workscontract for roads, airports, railways, transportterminals, bridges, tunnels and dams.Income TaxUnits meeting the following conditions would beentitled for tax concessions:Implications of the Union Budget 2007a) Started on or after 1 April 2006, in a SEZb) Not formed by splitting or reconstructing abusiness already in existencec) Not formed through transfer of previouslyused plant and machinery to a new business.(This means that existing units moving intoSEZ will not be able to avail tax exemption.)Sec 80 IA—which provides for 100%deduction of profits derived from infrastructurefacility, industrial parks, etc., is now restrictedto developers or builder-developers and not tocontractors or sub-contractors.Deduction of profits from new residentialprojects under Sec 80 IB(10) has not beenextended for projects started after 31 March ‘07.• Basic exemption limit raised from Rs 1,00,000to Rs 1,10,000. For women and seniorcitizens, the limit would be Rs 1,45,000 andRs 1,95,000 respectively.• Education Cess increased from 2% to 3%.• For companies and firms, payments aboveRs 20,000, if not made by an account payeecheque or demand draft, would be disallowed.• Interest on loan paid for higher studies isallowed as a deduction under Sec 80E.• Medical insurance up to Rs 15,000 for a policyin the name of the individual, spouse andchildren is allowed as a deduction. For seniorcitizens the limit is Rs 20,000.• Tax on distribution of dividends by a companyhas increased from 12.5% to 15%.• Stock options given to employees would comeunder the purview of FBT.Excise Duty:Duty on cement has been reduced to 12.5% for50 kg bags with MRP of Rs 190. If MRP exceedsRs 190, the duty stands increased by 50%.Luxury Tax:Tax only on actual amounts of room rentcollected by hotel and not on rack rate.—Brigade Finance DepartmentThe guidance cost (official cost) of residential sites has been increased by50%, commercial properties by 60% and industrial properties by 25%.For properties adjoining national highways, the hike is 50% of the hikein residential areas; for state highways, it is 25%. Commercial propertiesunder erstwhile CMCs, revenue areas and gramathana regions is hiked by30%; flats for commercial purposes to pay 20% more than residential flats.Corner sites to pay an additional 10%.A few months ago, the government had increased guidance values forBangalore Rural district. This increase is because of the unprecedentedgrowth seen by the IT city. As a result, registration charges will go up.—Times of India, 19 AprilStamps and Registration• To introduce suitable e-stamping system in the State on pilot basis.• To extend concession of 0.5% on conveyance deeds backed by valid TitleInsurance policy, issued by an insurance company recognised byInsurance Regulatory and Development Authority.• A ceiling limit of Rs 5,00,000 on the stamp duty will be fixed for depositof title deeds for the purpose of development of immoveable propertiesfor commercial use and Rs 50,000 for the purpose of residential use andadvalorem rate for any other purpose.—Brigade Finance DepartmentA U D I T O R I U MC O N F E R E N C E R O O MB O A R D R O O M SB A N Q U E T H A L LB U F F E T H A L LG U E S T R O O M SThere are many reasons for NRI interest in Indian real estate. NRIs holdingIndian passports do not need RBI permission to buy immovable property inIndia. Payments can be made either by remitting funds from abroadthrough normal banking channels or out of an NRE / FCNR / NRO account.NRIs of Indian nationality do not require any permission for acquisition,transfer or disposal, by way of gift, of property which is not a farmhouse,agricultural or plantation land. Declaration on Form IPI 7 for acquisition ofcommercial property for carrying on industrial, commercial or tradingactivity by their proprietary / partnership firm in India needs to be filed withRBI within 90 days from date of purchase.Money can be repatriated abroad if bought with the foreign exchangeearned abroad. Lastly, Indian professionals are now returning to India withcompetitive international salary benchmarks. Others prefer to be preparedwith a house of their own back home. Many use it as a holiday home.Furnished apartments used for a few weeks annually are now common.—The Economic Times, 1 AprilHousing Loan SchemesT E R R A C E D C O U R T Y A R D& O P E N - A I R S T A G EPeriod up to (in years)5101520A range of venues for 10 to 1,000 people • Facilities for parallelprogrammes / sessions • Professional catering services • Variety of accommodationoptions • Special packages for residential programmes of up to 100 people atThe Woodrose • Professional management servicesFor more information, please call Manager—Operations:+91-80-41995999, 40182222 email@example.comFloating Rate of InterestEMIFixed Rate of InterestEMIAs on 21 April 200712%2,22514%2,325* Conditions apply• Loan amounts that can be availed depend on the housing finance institution • Loan amount limit depends on the income of theapplicant • Security of the loan is the first mortgage of the property to be financed • Loans can be availed from leading financialinstitutions • Interest rates and EMIs are subject to change without notice, check with the financial institutions for prevailing interest rates• Calculations are based on loan amount of up to Rs 10 lakh. • Administrative fee will be 0.25% of loan amount + 12.24% service tax.Factual information contained in this newsletter is subject to reconfirmation where relevant. E. & O.E.12%1,43514%1,55412%1,20114%1,33212%1,10214%1,242
The sharing of the Kaveri’s* water has been the subject of debate and disputebetween Karnataka and Tamil Nadu for over a century.The dispute has its roots in two controversial agreements—signed in1892 and 1924 between the Madras Presidency and the Princely State ofMysore—on the equitable sharing of Kaveri water. Karnataka believes bothagreements favoured Tamil Nadu, which was, after all, a British Presidency.Tamil Nadu contends that making a change in the agreement, on the behestof the state that has upper riparian control, will lead to disastrous resultsand set dangerous precedents.In 1990, the Government of India appointed a tribunal to rule on thematter. The tribunal's verdict of 5 February seems to be as controversial asthe subject of contention. The tribunal has allocated 419 tmc ft of waterannually to Tamil Nadu, 270 tmc ft to Karnataka, 30 tmc ft to Kerala and7 tmc ft to Puducherry. The issue is far from resolved: all concerned stateshave filed review petitions and challenged the division.The debate over its waters rages on, as…India has seven rivers that are considered sacred:the Ganga, Godavari, Narmada, Sarasvati, Sindhuor Indus, Yamuna...and Kaveri. The Kaveri—alsoknown as Dakshina Ganga or Ganga of theSouth—is regarded as the most sacred river inSouth India.A mountain-top genesisIt is considered a miracle; a holy moment thatis witnessed by thousands of pilgrims. And ithappens every October, during Tula Sankramana,when a natural spring—said to originate within asmall tank in the hills of Kodagu—is deemed tobe reborn. The place is Talakaveri. And the muchheralded surge of water is believed to be the firstmanifestation of the mighty Kaveri.Point of origin…the Western GhatsFrom Talakaveri, 1,355 metres above sea levelin the WesternGhats, the Kaveriflows across theDeccan Plateauand the southernlowlands beforeit disappears intothe Bay of Bengal.It is a picturesqueand varied journey, during which the river covers765 kilometres.The Western Ghats, with high rainfall areas,is one of the three watersheds of India. It is thesource of some of the major perennial rivers ofpeninsular India: the Kaveri, Godavari and Krishna.A fourth river is the Mahanadi, whose headwaters* Also spelt CauveryTalakaverioriginate in the southern part of the Chhattisgarhplain. Together, these east-flowing rivers accountfor 20% of the country's total outflow. The westflowing rivers in Karnataka are faster flowing, dueto their shorter length and sharper gradient. Theydrain into the Arabian Sea.A long and lovely journeyDuring its travels, the Kaveri flows through thelandscapes of both Karnataka and Tamil Nadu. Atvarious points, it is joined by a slew of tributarieswith musical names; Shimsha, Hemavati, Harangi,Amaravati, Kapila, Honnuhole, Lakshmanathirtha,Bhavani, Lokapavani, Noyyal, Kabini, Arkavathiand Suvarnavathy. (Incidentally, except for the lastthree, all these rivers rise and flow completelyin Karnataka. And, if you count the Kabini'scontribution, you could say the Kaveri flowsthrough Kerala and Puducherry too.)Alone, and assisted by its tributaries, theKaveri creates islands and waterfalls of greatbeauty and majesty as it flows towards theCoromandel Coast. As the Kaveri enters theDeccan Plateau, its waters bifurcate twice:to form the islands of Srirangapatna, (20km north-west of Mysore) and Sivasamudra(20 km east of Talakad). It is near Sivasamudrathat the river drops over100 metres to createtwo majestic waterfalls—Bharachukki and Gaganachukki—whichreacha dramatic 300 metreswidth during the heightof the monsoons. Otherwell known waterfallsinclude Kunchikal,Hoganekal, Shimsha andLushington.Sivasamudra FallsThe power of waterWhere there are waterfalls there are dams…andhydroelectric projects. Ancient anicuts (weirs)and dams, many dating back to the 12th century,can be seen on the alluvial tableland along whichthe Kaveri flows. And in more modern times, theKaveri's course has been punctuated by severallarge dams and hydel projects. Karnataka's firstRiver systems of Karnatakahydel project was the Shimsha Power Station, setup at Sivasamudra in 1902. It supplied power toBangalore—which became Asia’s first city to befully electrified and to have electric street lights.History on the sandsA river's banks are always the preferred place forhuman settlement. And while a river may changeits course, traces of the history that has unfoldedon its banksoften remain.The Kaveri isno exception.Monuments areeverywhere. Onthe island ofSrirangapatna(once the seatof the WodeyarEAST-FLOWING RIVERSThe Kaveri System:Kaveri, Hemavati, Harangi, Kapila, Shimsha.The Krishna System:Krishna, Tungabhadra, Vedavati, Hagari Malaprabha,Ghataprabha, Doni, Bhima.WEST-FLOWING RIVERSKalinadi, Gangavali, Aghanashini, Sharavati, Varahi, Netravati.OTHER RIVERSManjra and Karanja (tributaries of the Godavari).Palar, Pennar, Ponnaiyar.Sri Rangaswami Templedynasty and the beloved capital of TippuSultan) you will find the Sri Rangaswami Temple(894 AD); the fort, palace and mosque ofHaider Ali and Tippu (18th century)—and theirmausoleum. Further down, at Somnathpur, isthe 13th century Kesava temple, a marvel ofHoysala architecture. At Talakad, headquarters ofthe Gangas in the 8th and 9th centuries, templeslie partially or wholly buried within sand dunes.It is in the nature of human beings to value thenatural world in different ways; to invest it withspecial meaning and symbolism. The river Kaveriis no exception. On a practical level it is vital toirrigation, power generation and everyday living;in a more esoteric sense, it is sacred to mythology,history and human emotion.—Team Brigade InsightBRIGADE INSIGHTFor private circulation onlyBrigade Insight is published by the Marketing Dept of Brigade Group.Co-ordinating Editor: Mathew AbrahamEditorial Consultancy & Design: Resource CommunicationsBRIGADE GROUP, Brigade Towers, Bangalore 560 025 Ph: +91-80-4137 9200Fax: +91-80-2221 8497 email: firstname.lastname@example.org brigadegroup.comISO 9001-2000Insight 1-10K-04-2007
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