Service Tax was levied on Renting of Immovable property service from 01.06.2007 by the Finance Act, 2007. The definition of the words ‘renting of immovable property’ has been given in clause (90a) of Section 65 of the Finance Act, 1994. The said definition is reproduced hereunder for ready reference:

(90a) “renting of immovable property” includes renting, letting, leasing, licensing or other similar arrangements of immovable property for use in the course or furtherance of business or commerce but does not include —

(i) renting of immovable property by a religious body or to a religious body; or

(ii) renting of immovable property to an educational body, imparting skill or knowledge or lessons on any subject or field, other than a commercial training or coaching centre;

Explanation 1.—For the purposes of this clause, “for use in the course or furtherance of business or commerce” includes use of immovable property as factories, office buildings, warehouses, theatres, exhibition halls and multiple-use buildings;

Explanation 2.— For the removal of doubts, it is hereby declared that for the purposes of this clause “renting of immovable property” includes allowing or permitting the use of space in an immovable property, irrespective of the transfer of possession or control of the said immovable property;

The taxable service of renting of immovable property on which service tax was levied has been defined in sub-clause (zzzz) of Section 65 (105) of the Act, reproduced hereunder:

(zzzz) to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce.

Explanation 1.—For the purposes of this sub-clause, “immovable property” includes—

(i) building and part of a building, and the land appurtenant thereto;

(ii) land incidental to the use of such building or part of a building;

(iii) the common or shared areas and facilities relating thereto; and

(iv) in case of a building located in a complex or an industrial estate, all common areas and facilities relating thereto, within such complex or estate,

but does not include-

(a) vacant land solely used for agriculture, aquaculture, farming, forestry, animal husbandry, mining purposes;

(b) vacant land, whether or not having facilities clearly incidental to the use of such vacant land;

(c) land used for educational, sports, circus, entertainment and parking purposes; and

(d) building used solely for residential purposes and buildings used for the purposes of accommodation, including hotels, hostels, boarding houses, holiday accommodation, tents, camping facilities.

Explanation 2.—For the purposes of this sub-clause, an immovable property partly for use in the course or furtherance of business or commerce and partly for residential or any other purposes shall be deemed to be immovable property for use in the course or furtherance of business or commerce;

Thus, from the aforesaid definitions it appears that service in relation to renting of immovable property for the use of business/commercial activity was brought under the service tax net.

Relevant Notification: -

Notification No. 24/2007-ST, dated 22.05.2007 granted exemption to the taxable service of renting of immovable property, from so much of the service tax leviable thereon as in excess of the service tax calculated on a value which is equivalent to the gross amount charged for renting of such immovable property less taxes on such property, namely, property tax levied and collected by local bodies.

Thus, the amount paid as property tax on the immovable property was not to be included in the assessable value on which service tax was leviable. However, it was provided that the amount of interest charged on the amount of property tax and the penalty paid to the local authority would not be excluded from the assessable value on which service tax was chargeable.

Relevant Circular: -

CBEC issued Circular No. 98/1/2008-ST, dated 04.01.2008 wherein the following issue was raised: -

Commercial or industrial construction service [section 65(105)(zzq)] or works contract service [section 65(105)(zzzza)] is used for construction of an immovable property. Renting of an immovable property is leviable to service tax [section 65(105)(zzzz)].

Whether or not, commercial or industrial construction service or works contract service used for construction of an immovable property, could be treated as input service for the output service namely renting of immovable property service under the CENVAT Credit Rules, 2004?

The following clarification was given in this regard: -

Right to use immovable property is leviable to service tax under renting of immovable property service.

Commercial or industrial construction service or works contract service is an input service for the output namely immovable property. Immovable property is neither subjected to central excise duty nor to service tax.

Input credit of service tax can be taken only if the output is a ‘service’ liable to service tax or a ‘goods’ liable to excise duty. Since immovable property is neither ‘service’ or ‘goods’ as referred to above, input credit cannot be taken.

Thus, the said Circular denied taking of Cenvat credit by the landlords/lessors in respect of service tax paid on input service being Commercial or Industrial Construction service.

Judgment of the High Court of Delhi on Renting of Immovable Property Service: -

The Notification No. 24/2007-ST, dated 22.05.07 and the Circular No. 98/1/2008-ST, dated 04.01.08 came to be challenged in the case of Home Solution Retail India Ltd v/s Union of India [2009-TIOL-196-HC-DEL-ST]. The basic issue raised in this case was whether the Finance Act, 1994 envisaged the levy of service tax on letting out/renting out of immovable property per se? Or the service tax was levied on the service provided in relation to the renting of immovable property. It was contended therein that the said Notification and Circular were giving an erroneous interpretation of the Section 65 (90a) and Section 65 (105) (zzzz) of the Finance Act, 1994 (as amended by the Finance Act, 2007) and therefore they were ultra vires of the Finance Act, 1994.

The verdict of the High Court of Delhi was as under:

High Court observed that service tax is a value added tax. It is a tax on value addition provided by a service provider.

High Court held that it is clear that we have to understand as to whether renting of immovable property for use in the course or furtherance of business or commerce by itself is a service. There is no dispute that any service connected with the renting of such immovable property would fall within the ambit of Section 65(105)(zm) and would be exigible to service tax.

High Court has held that the activity of renting of immovable property without any additional service being rendered would not fall under “Renting of Immovable property service”. If any additional services are provided along with renting of immovable property then such services would fall under “Renting of Immovable property service” like landlord/lessor providing furniture, provision of air conditioning service etc. This means that the landlords/lessors must start to charge service tax on the services provided to tenants in addition to renting of immovable property.

High Court held that Section 65(105) (zzzz) does not in terms entail that renting out of immovable property for use in the course or furtherance of business of commerce would by itself constitute a taxable service and be exigible to service tax under the Act.

Consequently, the interpretation placed by the impugned notification and circular on the said provision is not correct and the same are ultra vires the said Act and to the extent that they authorize levy of service tax on renting of immovable property per se, they are set aside.

Thus, decision has lead to emergence of new issues regarding the said service. The detailed analysis of the judgment of the High Court was done in our Article titled “Renting of Immovable Property- Delhi High Court Decision”. The implications of the said judgment were also discussed in this article. You can view the aforesaid article on our website in article section.

Appeal against the decision of High Court: -

The Department filed a Special Leave Petition before the Supreme Court against the judgment of the Delhi High Court. The appeal was pending however, no stay was granted against the decision of the High Court. As a consequence, most of the assessee has stopped paying service tax. Even the tenants have stopped service tax to the landlords.

Post Developments: -

After the judgment was passed by the High Court of Delhi in the case of Home Solution Retail India Ltd, it was noticed that some of the clients who had taken the immovable property on rent had stopped paying service tax to the property-owners/landlords. This lead to the Department issuing Circular No. 336/10/2009-TRU, dated 15.07.2009 asking the field formations to go on collecting the service tax on the renting of immovable property. It was said therein that the issue had not reached finality as appeal against the decision of the High Court was pending before the Apex Court. As such, the service providers should be asked to pay the tax or show cause notice should be issued to them to protect the interest of revenue.

Thereafter, some assessees have again approached the Delhi High Court challenging the TRU instructions as well as some of the letters issued by some of the filed officers. The Delhi High Court observed that since the operation of the decision given in the Home Solution Retail India Ltd’s case was not stopped by any order of the Apex Court and therefore, the Board could not have instructed their officers to pursue the matter with tax payers calling them to pay service tax not they could resort to other means under law to protect the Revenue. The Delhi High Court did not pass any further orders on the assurance of the ASG appearing for the Government that corrective steps will be taken by issuing further instructions, in suppression of earlier instructions, to the officers not to write such letters demanding the payment of service tax or threatening coercive steps.

Amendments proposed in Budget 2010: -

However, before the Apex Court could take a decision in the SLP filed by the Government against the judgment of the High Court, or even before the ink of the assurance given by ASG has dried, the Government has introduced retrospective amendments regarding the service of ‘renting of immovable property” in the Finance Act, 1994.

In the Budget 2010-11 announced on 26.02.2010 the Government has retrospectively amended the definition given in Section 65(105) (zzzz) of the Finance Act, 1994 to provide that the activity of ‘renting’ itself is a taxable service. The amendment was introduced retrospectively from 01.06.2007.

The Government also proposed to introduce a clause to protect all the action taken by the Department officers for recovering service tax on renting of service from 01.07.2007 onwards.

Outcome: -

With the retrospective amendment introduced so, the effect of the judgment of the Delhi High Court was wiped clean.

All the controversies raised were silenced once and for all. This was being done with retrospective effect. Now, all the landlords, who have not paid the tax, have to pay the tax along with interest. They will ask the tenants to pay the same. Even they will be ready to pay the tax but the interest will be in account of landlord only.

Alternatives available with the Assessee: -

In view of the amendments introduced by the Budget 2010, the assessees have only two options are available with them. Firstly, they can simply pay the service tax levied on the renting of immovable property and put an end to litigation. The second option with the assessee is to once again approach the High Court and contend that the renting falls under the State List and Centre cannot impose tax on the same. As such, he can challenge the constitutional validity of the levy of service tax on renting of immovable property.

Conclusion: -

The clear cut message given by the Government that one should not fight with the Government. They have the weapon of retrospective amendment available with them. The proverb “IT IS DIFFICULT TO LIVE IN ROME AND FIGHT WITH POP” clearly fits the situation. Nobody is going to penalize the officer who has not properly drafted the wrong provisions. Now, the assessee is also realizing that it is better to pay tax and not to fight with the department. Even if he wins after a long battle then the department will come with a retrospective amendment. In the last, he has to pay the tax.

The second very dangerous outcome is that the Government is amending the law when it is pending before Apex Court. They have not waited till the outcome of Supreme Court. Earlier, the retrospective amendments were done when the decision of Highest Court of India goes against the department but this time amendment is done even if the matter is pending with the Court. Even the department has assured the Delhi High Court that they will instruct the officers not to write letter for depositing the tax. On the contrary, they have come with a retrospective amendment. We can see the retrospective amendments on tribunal decisions also in times to come.

Prepared By:

CA Pradeep Jain

Sukhvinder Kaur, LLB

Courtsey :http://www.taxguru.in/

Will Enable CRISIL to Enhance Its Capabilities and Expand Operations to Meet the Increasing Needs of India’s Fast-Growing Capital Markets

Mumbai, March 16, 2010: CRISIL, India’s leading ratings, research, and risk and policy advisory company, today announced the dedication of its new headquarters, CRISIL House, at Hiranandani Gardens in Powai. The dedication was carried out by Mr. Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies. The McGraw-Hill Companies is CRISIL’s majority shareholder.

CRISIL House is a state-of-the-art “green” building, designed to optimise consumption of scarce water and energy resources. CRISIL aims to obtain the highest LEED certification for the 211,000-square-foot building, and the LEED certification process is in progress. The building’s features are expected to reduce CRISIL’s energy consumption by 40 percent, and water consumption by 30 percent. CRISIL House, which was designed by renowned architect Hafeez Contractor and built by Hiranandani Constructions, will allow CRISIL to expand its operations and enhance its capabilities to meet the strong and constantly evolving demands of the capital markets in India and around the world. The building will allow CRISIL to leverage technology more effectively, operate a world-class training facility, and attract and retain high-quality talent.

“CRISIL’s thought leadership and innovative approach have helped drive the development of India’s debt markets – an important contributor to the country’s impressive record of growth,” said Mr. McGraw. “We are thrilled that CRISIL House will enable us to continue our mission of helping the Indian markets reach their potential while also reinforcing our commitment to sustainable business practices.”

Buildings are responsible for over 40 percent of greenhouse gas emissions in India, and the new building’s design aims to minimize the impact on the environment.

“Our green building initiative is aimed at protecting the environment by helping conserve energy and natural resources,” said Roopa Kudva, managing director and chief executive officer of CRISIL. “CRISIL House reflects our commitment to being a responsible, environmentally friendly company, while also enhancing our ability to facilitate the flow of capital in India and around the world.”

“The building design also aims to improve employee wellness and efficiency. Eighty percent of our employees will get natural light at their workstations, and green areas on alternate floors provide a natural environment. We have included these features to make CRISIL House a place that our employees look forward to coming to every morning,” Ms. Kudva added.

The CRISIL House design uses recyclable, renewable and locally available material, reducing its carbon footprint. The building has multiple natural elements, including a large green cover and a roof garden to ensure minimal CO2 emissions. The design allows in ample sunlight while keeping out heat, thus sharply reducing electricity consumption. At the operations level, CRISIL has consolidated its data centers by reducing the number of physical servers by 75 percent through virtualization, and has provided an enclosed space and focused cooling for the servers.

Key characteristics of CRISIL House:

Naturally lit office: 60% of natural light for workstations comes in through the atrium
All floors have a central atrium overlooking the green area
Bank of photovoltaic panels to generate solar energy
Seven gardens on premises, to absorb heat and CO2, and provide a visually pleasing environment
Sewage treatment plant for water recycling – recycled water used in gardens
Workstations have individual task lights to ensure energy efficiency
Reprographic room separate on each floor, networked printers to minimize energy usage
Preferred parking slots and charging points for electric cars
Integrated building monitoring system for energy
Motion sensors to optimize lighting usage

Next time,you find any article in newspaper or TV programme saying realty /property Prices will go up. Remember it is a paid article at the instance of some big developer/builder.

HUDCO or Govt Deptts should stop heaping any further or bigger insult and making mockery of lower or middle class population by twisting , tweaking and defacing the definition of Affordable House.

Correct Definition of Affordable House is as under :

Affordable House = 3 or 4 x Average Annual salary of Mass of particular City.

Importantly budget house should be decent in terms size, shape and dimension ( 2 BHK admeasuring 900-1000 sq.ft) and made up of standard building materials with all basic amenities nearby.

As per recent report, the national average per capita income in India is approximately Rs.33,400/- per annum.

For Instance, If Ahmedabad has a population of 60 Lakhs and the average annual salary is Rs. 40,000. Still taking Rs. 70,000 on higher side :

Affordabale House = 4×70,000 = Rs. 2,80,0000

This is indicative of the part that shows that majority ( 50-70%) of Ahmedabaad population can not afford to have House priced over 3,00,000 for 2 Bhk.

However, some of the organizations with a bunch of fools or wicked persons are abusing the word Affordable House by saying

400 sq.ft of 2 Bhk = Rs.4-5,00,000 for Slum Dwellers.

They should better go to understand the basics of Affordable Housing rather making such insolent and absurd comments via different forums and print or electronic media.

Does it not surprise you when you hear that a 2 BHK flat with 1000 sft is priced at Rs. 22-30 lakhs depending on area whereas the equal area in a mall is now being sold at Rs. 4.55 to 8.55 lakhs depending on area in Ahmedabad. This itself shows that residential units are all overvalued to a great extend merely with the intention of looting people.

Affordable housing word was coined with a vision to give House for all and its price can’t be different for different strata of society . It simply means the house which can be purchased by masses . It does not mean houses purchasing power depending on individual financial strength.

Moreover, it should be ensured that it does not fall into the clutches of multiple house holders and rather it should go to the hands of genuine house seekers so that Inflation and Recessionary trend can be arrested by increasing the purchasing power of general mass.

Reducing bank’s home loan interest rate does not enthuse house seekers as learnt from our past experiences. Only remedy to bring cheer on street is to lower the house prices . Governement should build at least 3-5 lacs affordable houses for general mass in Ahmedabad.

Since some builders are trying to fleece money from house seekers by comparing Ahmedabad with cities like Pune, Mumbai, Kolkatta or Bangalore . Most of the time, comparison is drawn with Mumbai. Importantly, property prices’ of Ahmedabad can not be compared with that of Mumbai housing prices on knowing the start difference between the two :

a) Mumbai has tall structures/skyscrapers/high rise buildings because of paucity of space. Ahmedabad has a large track of open land in the mid of Ahmedabad city at various places.
b) Mumbai’s builders and rich class people even live in flats whereas Ahmedabad higher class society lives in Bungalows or Villas.
c) Mumbai sees Vertical Development ,Ahmedabad witnesses Horizontal Development.
d) Mumbai’s streets are crowded and even millionaires commute by local trains. Ahmedabad affluent class people use their own person cars.
e) Mumbai have a large street vendors who offer affordable food whereas Ahmedabad is city of Restaurants and Hotels with a very few street vendors.
f) Mumbai has a lot of business or employment opportunities , Ahmedabad in comparison to major cities has lesser opportunity.
g) Over the years, Mumbai population has exploded whereas Ahmedabad population is increasing very steadily.
h) Mumbai does not show largely any units in buildings unoccupied, Ahmedabad’s most of the buildings shows 50 or less occupancy. In last 5-6 years, the units added have remained largly unoccupied and idling in Ahmedabad even in posh areas like S.G Highway, Satellite, Vastrapur, Science City etc.
i) Mumbai has a very few multiple house holders in comparison to Ahmedabad. First time house buyers are neglible inAhmedabad.
j) Mumbai shows a fast track construction, whereas the project started in 2004 is still at many places not completed in Ahmedabad at a posh location because owners don’t feel that there is enough buyers at this price in market.

Therefore , Let us not make the mockery of whole building systems and various house seekers.

Though India being an agrarian country , its economy is largely dependent on Housing and Realty and Infrastructure sector. One can say, Construction is the backbone of Indian economy and it has cascading effect on all tiers of other sectors .

Malls and Multiplexes are failing constantly because their heads/CEO were duffers who did not do proper studies that their format will be successful only if there is enough purchasing power of common men. MORE, Subhiksha, Next etc retain chains have already closed their shutters and many are in pipeline.

Who is responsible for increasing unemployment and mass unrest leading to burgeoning of evils like chain snatching, burglary, loot, theft, kidnap, murdars, suicides, fights , etc.

As per Times of India newspaper report, average 19 burglaries a day has been found in year 2009 in Ahmedabad. Just see the meterioc rise in crime. Certainly, Ahmedabad is not known for such things. We are apeing the infamours cities like Bihar perhaps surpassing them just because poors and middle class people are being suppressed..

Is Ahmedabad known for this evils say 10 years back. It is all because of loot been done by higher class society and abnormal rise of housing prices and essential good prices.

Realtors & their connies like brokers are responsible for bringing India to the brink of very big recessionary period because of their inflated housing prices no genuine buyers are coming forward and investor are shying because they are not able to sell their units.

No construction , No India. If India has to be saved from the cruel clutches of Economic Slowdown and downturn.

Construction has to be carried out sustainably which is possible only if genuine house buyers come forward in masses and this is possible only with
True Affordable Housing— A house which at least 70% of city population can afford to purchase without going to financial institution.

Inspite of knowing that Cement sector still has not seen any competition and there is cartelisation, why Govt is sleeping over the issue and not allowing more cement companies to come up so that prices go down drastically of cement and then construction.

Sustainability can exist only if there is affordability, accessability, availability and equality in society.

Post the Dubai real estate market crash, there has suddenly been a resurgence of interest by foreign investors there. A not inconsiderable part of these are Indians. Surprising? Not really.

Dubai is a market that has always thrived on investment. Real estate there has now become attractive because of the reduced pricing that followed the recent real estate downturn. The revival of interest by Indian investors, who are fundamentally value-seekers, should be understood from the point of view of the latent opportunities available in Dubai at the current time.

Indian investors are traditionally quite familiar with the property markets in the UK, Canada, US, Dubai and Australia. These are markets that are always being monitored at some various levels from Indian shores. Many Indian investors are beginning to focus their investments within Dubai because they see an opportunity to pick up previously overpriced properties cost-effectively, with the expectation that demand will revive again in the long term. Moreover, many Indians also have commercial interests in Dubai, which has a close emotional fit with the Indian community because of the large diaspora existing there.

In evident response to this fact, many real estate developers from Dubai are zeroing in on Indian investors now. This makes business sense because Dubai is, both geographically and sentimentally, in the close neighbourhood of the Indian subcontinent. This creates a natural affinity for investments from this country. Another factor would be the relative ease of investment that exists for Indians in Dubai. The fact that a large number of Indians have business and personal interests there also makes them a natural customer catchment. However, India is not a solitary case in point here – Dubai-based developers are also targeting other countries for the same reason.

Are we witnessing a new investment trend here? Is Dubai the Investment Mecca for Indians in the current epoch? It would be too early to make such an assumption. We are talking primarily of opportunistic investment at this point in time.

Definitely, Dubai has a lot of supply available, so we are not going to see a peaking in property rates for a while. Currently, it is difficult to say in which direction Dubai’s property market dynamics will go in the near and distant future. Much depends on how well the economy there revives. The current spurt of investments is speculation-driven, and the initial numbers may not prove sustainable for Indian investors in the long run.

In fact, the current dynamics visible in Dubai are not very different from what was witnessed in the US during the worst of the subprime crisis. Properties were suddenly available at vastly reduced rates, and investors with a long-term vision took advantage of the situation. Dubai has its own set of aspirational values, and the market has responded accordingly.

It should be noted that investing in a market that has recently seen a serious downturn is not without potential pitfalls. The most obvious risk for investors into Dubai property is that the real estate market there may not revive in sufficient quantum and quality, or over the hoped-for time span.

Most markets which are organized in terms of development also have a lot of steady supply. Investment value is unlocked when there is a dearth of supply as opposed to demand. In other words, investment into Dubai-based properties would only begin to yield a decent ROI when demand overtakes supply – and that is not a likelihood for quite a while yet. In fact, there is a risk that Dubai may see another surfeit of dead property investments if another crash develops. In such a case, the challenges for investors plugging funds into Dubai’s property sector would be considerable.

Mumbai, Monday, March 15, 2010: Mantri Developers today announced the opening of Mantri Square – the largest mall in India. Mantri Square will be inaugurated tomorrow by Shree B S Yeddyurappa, Hon’ble Chief Minister of Karnataka. Mantri Square is spread over 1.7 Million sq. ft. and is located at No. 1, Sampige Road, Malleswaram, Bangalore. Mantri Square will change the retail landscape in the city and redefine benchmarks. The Mall, having 252 retail outlets (including 39 F&B outlets) offering over 10,000 brands, will create a shopping experience unmatched in the country.

Made with an investment of over Rs. 500 crores, Mantri Square will also generate direct employment for over 4,600 people.

Several distinct aspects of the mall makes it an unique landmark and making it a shopping centre built on global standards, as Mr. Sushil Mantri CMD, Mantri Developers said, “It has been our endeavour to create a unique proposition with the best brands in the choicest of shopping environs. Mantri Square will undoubtedly be the most sought after destination amongst discerning shoppers and for brands of repute as well. The sheer scale of offerings at the mall came only second to the detailing that has gone into ensuring a world class shopping, leisure and entertainment desitnation”

Mantri Square has been created after making in depth study of many successful Malls in the world. International Architects were involved in creation of this master piece. The car park has a capacity for 1,800 four wheelers and 550 two wheelers. Mantri Square has imbibed the international practice of zoning for retailers, where similar product categories are sectioned together for shoppers’ convenience. The focus has been to create an international style ambience. Some of the features to enhance shopper comfort are designing of wide corridors (some almost 40 feet wide) allows the shoppers to move comfortably even at peak shopping hours.

Mantri Square will cater not just to the upcoming residential complexes in and around Malleswaram but also fill the void of a North and West Bangalore residents for a great shopping, dining and entertainment options. The mall will function seven – days a week from 10 am to 9:30 pm for retail outlets and upto 11:30 pm for F&B outlets presenting flexibility of time to indulge in a plush ambience.

Confluence of the best Brands:

The consumer is spoilt for choice with over 250 stores to choose from across categories catering to various needs. The mall has six anchor stores – Spar hypermarket, with its largest outlet in India, at 90,000sft, 5 departmental stores – Lifestyle, Shoppers Stop, Pantaloon, Reliance Trends and Marks & Spence, 6-screen INOX multiplex with a seating capacity of 1497 seats.. Mantri Square also boasts of a 12 lane Amoeba bowling alley with a gaming centre.

Many firsts at Mantri Square

Apart from being India’s largest mall, Mantri Square has many firsts to its credit. Mantri square will have India’s first Taco bell, the leading Mexican inspired QSR chain from Yum! International. Inox will launch its first premium lounge with recliners in India at Mantri Square with 71 seats. OVS from Italy will open its first store in April this year. Mantri Square has many other national brands opening their first outlet in Bangalore here – Tissot, Alcott, Sunglass Hut, Boggi, Kalanjali and Early Learning Centre amongst others.

Wholesome leisure time, with endless snack and dining options

The widest retail options at Mantri Square will be complimented with flavours from national and internationally acclaimed kitchens. The mall will have the largest food court and dining area in Bangalore. The mall has 39 F&B outlets. The food court which is 1 lakh sq ft and can accommodate over 1,000 people, offers choices in Oriental ,North Indian, South India, pizza, snacks, chaats, juices and many other cuisines.

Impetus on Local Retail brands

A large number of local traditional retail brands too would also have their outlets at Mantri Square. These include brands such as Vijaylakshmi Sarees, Fazals, Vastrra, Soch, Davanam Jewellers amongst others. Thus the Mantri Square has a wonderful confluence of both international and local retail brands.

Technology at the core, shopper’s safety at the fore

The Mantri Square also endeavours to adhere to the most stringent standards of hygiene and quality. Initiatives include installation of state of the art equipments, medical screening of all employees before recruitment and frequent quality checks.

Security and safety have become critical components in today’s public places. Security strength outsourced personnel backed by smart technology through close circuit camera televisions will cover every part of the mall. The Mall has exit staircases during emergencies providing easy access and exit to all. Escalators and elevators throughout the shopping area will provide free and unobstructed movement for the shoppers.

The Mantri Square has applied global standards of mall management beginning with astute planning, right tenant mix, synergistic placement, food and entertainment options to establish a new standard in mall development and international level property management.

About Mantri Developers:

Mantri Developers Pvt. Ltd. is a leading developer of world class homes, IT Parks and Educational Institutions. Mr. Sushil Mantri founded Mantri Developers in Bangalore in the year 1999. In just 10 years, the company has delivered over 5,000 homes and built 18 Projects. Today, Mantri Developers has to its credit over 1 Crore square feet of constructed area, over 25,000 satisfied residents and over one crore square feet under construction. Mantri Developers has a track record of delivering 1.4 homes per day since inception. These homes were delivered On Time Every Time.

Mantri Developers’ vision is based on the values of Punctuality, Quality, Reliability, Speed, and Transparency (PQRST). The company plans to focus on the residential sector, retail, hospitality, IT Parks and educational institutions in Bangalore, Chennai, Hyderabad and Pune.

The company’s success has been based on a consumer centric approach with six key differentiators: On time delivery, Highest Carpet Area, Home Care, Creating Communities, Award Winning Landscapes and Attention to Detail.

Recently, Mantri Altius in Bangalore was awarded the best residential property in India, an honour by a distinguished panel of judges from CRISIL and CNBC. Recently, Mantri Developers has been awarded “Best Builder 2009” by the Karnataka Government.

Mantri Developers has become one of the first real estate companies in the world to receive the International Management Certifications for its commitments towards international standard in four categories of product quality, environmental management, safety and occupational hazard of its employees and associates and Social accountability. Germany based TUV Nord has certified ISO 9001, ISO 14001, OHSAS 18001 & SA8000 certifications in recognition to Mantri Developers’ international standards.

Mumbai, March 12, 2010 – The Mumbai Metropolitan Region Development Authority (MMRDA) will soon make available two lakh rental houses for those who come to this vibrant city of Mumbai in search of their bread n’ butter. “MMRDA has sanctioned locational clearance to a total of 34,63,720 square meters of land to accommodate 1,99,529 rental units to come up in the Raigad and Thane Districts”, said an elated Mr.Ratnakar Gaikwad, Metropolitan Commissioner, MMRDA.

From out of the 22 proposals approved by MMRDA, the Thane Municipal Corporation has granted building permission to four developers who will construct rental housing units at Majiwade, Panchpakhadi, Chitalsar-Manpada, and Naupada areas in District Thane. The Mira-Bhayendar and Ulhasnagar Municipal Corporations have granted building permission each to a developer in Mahajanwadi and Shahad areas. The remaining 16 developers too will receive building permission from the respective local bodies soon.

“The prime objective of implementing the Rental Housing Scheme in Mumbai Metropolitan Region is to make available stock of housing in the Mumbai Metropolitan Region on rental basis within the affordability limits for those who look forward to ensuring financial security to their lives. In view of the significant shortage of the housing for the poor and in accordance with the main objective of the housing policy of the State, MMRDA has vowed to construct or procure five lakh self contained Units admeasuring minimum of 160 sq.ft carpet area within Mumbai Metropolitan Region (MMR)”, said Mr.Gaikwad further.
The Government of Maharashtra has identified rental housing scheme as “Vital Public Purpose” project under the “Slum Prevention Programme”.
The MMRDA will make these self-contained units available on leave and license basis to Economically Weaker Section (EWS) at an affordable rent ranging from Rs.800/- to Rs.1,500/ per month.
Eligibility for Allotting Rental Housing:-
a) The allottee shall have employment / self employment / business within MMR and minimum family income shall be Rs. 5000/ – per month
b) The allottee and his family member shall not own any house in Mumbai Metropolitan Region
c) The allottee shall be continuously residing in the state of Maharashtra for at least 15 years before the date of application for Rental Housing
d) The allotment shall be made in the joint name of spouse, if married

The Confederation of Construction Products and Services (CCPS) called for compulsory implementation of safety standards on use of glass in buildings as is the accepted practice worldwide. Addressing a media conference held at Constitution Club, Rafi Marg, New Delhi on “ Urgent Need for Proper Norms on Use of Glass in Buildings- CCPS concerns Human Safety” , Shri Deepak Gehlowt, Convener, CCPS informed that glass use in India has increased manifolds in the past few years especially in shopping malls, commercial complexes, offices, hotels, airports and residential buildings inviting high risk of human injury. Worldwide statistics show that increasing use of glass results in significant increase in injuries due to body impact and falling glass. In India too, several cases have been reported where people have lost lives, sacrificed their limbs due to use of wrong type of glass at critical places in the buildings. The risk of glass aggravates especially in case of man made or natural disaster.

Apart from Shri Gahlowt, Shri D.S. Sachdev, former Director General, CPWD, presently Advisor to the Delhi Govt, Shri Virendera Sharma , Chief Engineer, CPWD and Shri Shashi Kant , former Deputy Advisor , Planning Commission and Advisor, CCPS also briefed the press on technical aspects and the risk involved in use of the glass without following safety norms and they stressed urgent need for immediate formulation of conditionality in this respect in building byelaws by the state Govts and local bodies.

According to these experts, internationally use of glass in buildings is regulated strictly. In fact the earliest safety standards were first made mandatory as early as 1972 in the US and subsequently most countries around the world already have strict safety standards governing use of glass in buildings. However in India, not only is the National Building Code 2005 silent on the issue, but byelaws of even the major municipalities in cities New Delhi, Gurgaon, NOIDA, Bangalore, Chennai completely ignore the mushrooming use of glass in their regions.

The first standard on the subject in the country has been developed by CCPS together with Central Public Works Department, Indian Buildings Congress and Consulting Engineers Association of India through PPP mode using consensus method involving approval by experts from Central & State Govt. departments including M/o UD, CPWD, various PWDs, major municipalities and leading architects and engineers, glass manufacturers & processors and other stake holders from across the country and outside.

The recommendations of the Guidelines on Use of Glass in Buildings – Human Safety are based on test standards as outlined by Bureau of Indian Standards (BIS) and conform to the IS 2553 (Part 1): 1990 – Safety Glass – Specification, General Purpose and suggest how to regulate glass in relation to human safety by either, restricting use of glass or specifying use of Safety Glass at critical locations where chances of injury due to glass breakage are high. Consideration for manifestation, fire fighting and smoke exhaust are also included. The guidelines also insist the all safety glasses manufactured in the country are ISI marked to ensure verification of compliance to building byelaws and the consumer is not cheated.

These guidelines have been mandated by CPWD for use in the department and PWD Delhi Government. Beside this, the State of Andhra Pradesh has also mandated that these guidelines be followed when building sanctions are accorded for construction of buildings in the state. Building Byelaws being a state subject, it is important that other states also include the guidelines as part of building byelaws and insist upon safe use of glass in buildings in coming days.

Experts today insist, when it is well known that increasing glass use results in substantial rise of injuries, it is primitive and unfair to wait until enough number of people have lost their lives, or sacrificed their limbs before taking corrective action. Now with the availability of these Guidelines the officials, architects, engineers and even users in the country have no excuse to continue using glass without any concern for human safety.