How to Generate Electricity at Your Home?

 

The rapidly depleting fuels and energy sources are creating need of alternate power solutions. Moreover, electricity bills will continue to get more expensive over time. The biggest challenge lies in generating cost effective and eco-friendly solutions.

Here comes green electricity which is produced from sources that does not leave negative impact on the environment. It is always best to reduce dependency on foreign resources which will definitely give a sustainable future. This will not only benefit oneself but will also give rise to eco-friendly environment.

Make your Home a “Self sufficient Home”.

A self sufficient home offers simple and cost effective life. It does take a large amount of dedication and initial investment. People grow their own food, generate their own electricity and raise their own livestock. One can generate power at home by implementing energy-generating technologies such as solar panels, bio-gas and wind turbines.

Electricity Generation at Your Home

The practical and economical sources of electricity generated at farm or home include ‘renewable’ sources such as wind, bio waste and sunlight.

Small wind energy system

Such systems are generally installed at homes, farms and small businesses either to reduce electricity bills or as a source of backup electricity. Generally small wind turbines range between in size from 300 watts to 3KW. An average home can save two months of electricity with a one KW residential wind turbine. The number depends on efficiency of the turbine and on the area and size of house.
Following conditions are essential to install a commercial scale wind energy system :

1. The area must be of minimum one acre and should possess good wind resource.
2. Permission from municipal authority to install wind turbines which should be 250-300 mts away from neighbor’s house.
3. Your electricity bills should be high and should have easy access to utility lines.

Vertical axis wind turbine and Horizontal axis wind turbine are commonly used wind turbines. Small wind turbines are mountable on roof top for domestic applications and it stores power in battery.Wind Energy is Environment friendly,  pollution free energy and it does not emit Green House Gases.

Treating bio waste

Bio-fuels obtained from biological waste can also be used to produce electricity. The gas obtained by decomposing waste is safer, eco-friendly and stinks.
The treatment of domestic organic waste and food results in bio energy which is a renewable source of energy. It is used for producing heat, electricity and transport fuels. The domestic bio waste can be treated hygienically by using bio mechanization technology to produce cooking oil.
For installation purpose, it needs one square meter of space and one to fours hours of time. It will not only reduce tendency to throw waste on roads and public places but will also help in overcoming fuel crisis.
The municipal corporation of Vijayawada has plans to install affordable portable bio gas plants in several compounds like households,apartments and hotels. The capacity of these plants would vary between one kg to thousand kg.

Electricity from Solar Panels

 Rooftop solar power plants
Installing rooftop solar power plants is the best example of space utilization along with producing electricity. It can be set up on the terrace of both residential and commercial buildings to generate solar power.
Rooftop solar power plants are designed to meet the domestic needs of the people who have fear of huge bill. Such people use air conditioners, washing machines water-heaters and other home appliances very frequently. The photovoltaic cells of the panel convert solar energy into direct current.
A battery back up can also be attached to the system for power in night. A landlord renting out his rooftop for solar power generation will get good returns.

Solar Thermal or Solar water heater

The free and natural heat of sun can be utilised to hear water via Solar. Installing a climate friendly hot water system can save your energy bill and saves environment. Such heating systems can be installed on the terrace of individual homes and apartment blocks.(Single or smaller systems). A storage tank is mounted horizontally over the solar collectors on the roof. An electric booster is used to heat water in winters.

Solar lighting for apartment common areas

Even solar panels can be used in for lighting in common areas like staircase,parking space. It will lower down the maintenance cost for the flat-owners’ association. It will also make a big difference in common area as well as to the apartment owner.

 

Some innovative ways to generate electricity

• Bicycle Power: The bicycle powered generator can be used to generate electricity. The idea is not new and is widely used in many countries. In 2012, Mysore palace (India)was lightened up for an hour with 10 bicycles pedaled for 10 hours.
• Dance Power: Extra power can be generated by using high-energy environment of the dance party. Dance floor generators are installed for this purpose. It will generate power for the lights and sound system.

Products and Services offered by vendors

Many vendors provide service to different kinds of solar and wind systems such as solar pool heat exchanger, DC solar pump, solar one solar lightning, solar water heater, uni solar laminate, solar hot water tubes and many more.
Along with wide range of products they offer services like consulting, design of renewable energy systems, installation, commissioning etc.

Real Estate Forecast : 2014

The year 2013 was an eventful year for the Indian Real Estate sector with the introduction of Real Estate Regulatory Bill and Land Acquisition Bill in the parliament. On the home buyers side, the year can be best described as a lackluster year with high property prices and home loan interest rates that kept the buyers waiting on the sidelines.

As we move into 2014, it is important to gauge the mood of home buyers in terms of their desire, aspirations and fears from the upcoming year. For this purpose, Makaan.com, India’s fastest growing property site, conducted a research, Property Forecast 2014. The research was conducted in November 2013 among 2058 home buyers across Mumbai, Delhi NCR, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Chandigarh, Indore and more.

The main highlights of the research:

1) Property market in 2014 will be driven by end users:
Speculators and Investors have been riding the property market since a long time; however, they will make way for end users in 2014. Majority of home buyers want to purchase a property in 2014 for self use as they are currently staying on rent. An almost equal number of home buyers want to buy property to meet the growing family requirements and for long term investment. The analysis show that the year 2014 may experience a very positive shift from the earlier years and will bring in the much required stability in the property market. As the property transactions have fallen over the past 12 months, speculators and investors are finding it difficult to exit the market.






                                         


2) Residential property prices will either stabilize or will appreciate marginally in 2014
Property prices have remained stable over the past few months and the mood of the market suggests a continuation of this trend. 26% of home buyers feel that the residential property prices would remain stable over the course of 2014. 46% of buyers expect the prices to go up from the current level with majority of them expecting an appreciation of up to 10%. This should bring some relief to the buyers in 2014 as generally more than 10% appreciation is expected on a yearly basis. 28% of buyers are advocating for the prices to go down from the current level. 17% of them are expecting a drop of over 10%.





























3) Property budget of Home Buyers is likely to remain the same in 2014
There has been talk of a slowdown in the Indian economy with all economic indicators showing a negative trend. This, however, has not dampened the spirit of the Indian home buyer. His budget for buying a property in 2014 will not be affected by the slowdown. This reinforces the confidence of the home buyer in real estate as an asset class. There are 23% of buyers who have reduced their budget allocation while there are another 19% who are ready to dish out more money for property buying.





























4) Apartment is the preferred choice of home buyers

In 2014, majority (65%) of home buyers will be looking for apartments or flats. Residential plots (15%) also emerged as the preferred choice for a few home buyers. Apartment is the preferred choice for people in Delhi, Mumbai & other such cities that have high property prices and scarcity of land. Security and community living also contribute in making apartment the preferred option. Service /Studio apartment have gained popularity; however, they still account for a very small portion (3%) of the overall demand. There is an interesting overall shift in the property type preference; a decade back or so, quite a lot of the people preferred an independent/builder floor; however, now the preference for the same remains only 4%.




























5) Property investment budget for home buyers is 0-40 lakhs
Owning a house has been a priority for Indians since ages; it is treated as a symbol of financial stability and social status. Affordable housing i.e., housing between 0-40 lakhs will continue to be a preference for majority of home buyers with almost 60% buyers opting for this. Mid segment housing (40 lakhs to 1 Crore) will be the preferred budget category for 34% of home buyers. High end housing (1 to 2 Crore) will be preferred choice for 6% of buyers whereas only 1% of buyers will be looking for luxury housing (over 2 Crore).




























6) Location and Price will be the top purchase considerations in 2014

Location will be the top most purchase consideration for home buyer in 2014. The preference for Location is even higher than Price that was the biggest influencer for property purchase over the last few years. This is an important shift in behavior of the home buyer. Other factors that will influence purchase decision are Price (24%) and Connectivity (18%). Around 13% of home buyers will give higher importance to neighbourhood and proximity of the property to hospitals, schools and offices. It is interesting to note that only 2% of home buyers rate size as the top purchase consideration, which implies that majority of the locations have each property type available for purchase.




























7) High Property prices will be the main hindrance for home buyers in 2014

The phenomenon of exponential jump in property prices has been prevailing in the Indian real estate market since 2009; however it is for the first time that the high property prices (61%) has been identified as the single biggest hindrance in buying property in 2014. With more than half of the home buyers considering high property prices as a hindrance, it can be inferred that most of them are unable to justify or afford the high prices being asked from them.


























Other dampeners are that the home buyers are unable to find their dream adobe closer to their preferred location (11%) and with the appropriate connectivity. They are either forced to compromise with an area or postpone the purchase of the property. High home loan interest rate (11%) is another reason because of which home buyers might decide not to buy a property in 2014. Therefore, when it comes to choosing between available options, projects with economical budget and superior location & connectivity will win the race in 2014.

Courtesy : makkan.com 

How does the new land acquisition law work?

The new land law,“Right to fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013”, will replace the old Land Acquisition Act,1894. So, how the new law will affect the Land Acquisition by Govt?

Acquisition of immovable property in India is governed and regulated by “The Requisitioning and Acquisition of Immovable Property Act, 1952” (Act 30 of 1952). Acquisition of land is governed and regulated by Land Acquisition Act, 1894. Both these acts are applicable to whole of India except the state of Jammu and Kashmir. Under both these acts the Central Govt. as well as State Governments are empowered to requisition and acquire land and immovable property for public purpose (present or future). Since land is a state matter every state Governments have their own respective land acquisition laws and rules to acquire land in respective states.

However a new bill named and titled “Right to fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013” has been passed very recently by both the houses of Parliament and after getting Presidential assent and notification will replace the old Land Acquisition Act,1894.

Once the competent authority formed for the purpose of acquisition of immovable property decides to acquire any immovable property they must send a notice of requisition under section 3 of the said act (Act 30 of 1952) to the owner of the property in this regard.

Opportunities of protection and fair compensation

1. After issuance of “notice of requisition” under section 3 and before issuance of “notice of acquisition” under section 7 of the said act, the acquiring authority gives an opportunity to the owner of the property to explain why the said property should not be acquired and after considering the causes the authority passes order as it deems fit and proper.
2. If in spite of valid reasons the authorities insist to acquire the property then the aggrieved owner may appeal to the central Government within 21 days from the date of order.
3. No property or any part thereof can be acquired which is being used by the owner as residence for himself or his family member(s) or which is used for religious or public purposes.
4. If a property is not acquired within 5 years from the date of notice of requisition, it will be released and restored to the owner.
5. Compensation for the acquired property will be paid to the owner and quantum of such compensation may be decided by mutual agreement of the owner and acquiring authority.
6. If no agreement is reached arbitrator will be appointed, the owner of the property has right to state fair amount of compensation.
7. If the owner is satisfied with the award of the arbitrator regarding quantum of compensation, he may appeal to High court having jurisdiction over the area.

New Project : Palm Crest, Near AIIMS, Bhopal

Belief Buidcon launches their new project, Palm Crest, Bhopal. This 36 3BHK luxurious flat project, is ideally located near AIIMS with all basic amenities in walking distance (Just see the location map below to ascertain this fact). Some new amenities to include smart card based access control systems, anti termite treatment with 10 yrs guarantee and many more have been catered in the project.

A very strong candidate for becoming either an investment avenue or for self residential purpose. Pre launch price starts from 33.90 lacs and super built up area varies from 1257 sq ft to 1363 sq ft.

 

Real Estate (Regulation and Development) Bill, 2013

Are you a real estate investor or buyer ? Then this blog of ours is a must read to understand what is expected from builders and developers, and to be fully aware of  your rights.

Be a rightly informed and updated buyer...

The Real Estate (Regulation and Development) Bill, 2013  provides for a uniform regulatory environment, to protect consumer interests, help speedy adjudication of disputes and ensure orderly growth of the real estate sector and has been much awaited by all aspiring home buyers.

The Real Estate (Regulation and Development) Bill, 2013 is a pioneering initiative to protect the interest of consumers, to promote fair play in real estate transactions and to ensure timely execution of projects.

The Bill has been prepared by the Government after extensive consultations with States, experts and stakeholders. The Bill has been supported by the States along with Ministry of Consumer Affairs, the Competition Commission and Tariff Commission among others.

The Bill is being proposed under Entries 6, 7 and 46 of the Concurrent List of the Constitution of India, which deals with Transfer of Property, Registration of Deeds and Documents, and Contracts. 

It contains elaborate provisions to bring in the much needed transparency in real estate dealings through provisions for registration of real estate projects and real estate agents with the Real Estate Regulatory Authority; functions and duties of promoters and agents; rights and duties of allottees etc.,  The Bill once enacted will lead to establishment of Real Estate Regulatory Authority and Real Estate Appellate Tribunal  in every State for registration of all real estate projects and for speedier dispute resolution.  Stringent penalties have been sought to be imposed on habitual offenders. This it is believed will act as a deterrent for those few erring builders who bring bad name to the developer community at large.

Currently, the real estate and housing sector is largely unregulated and opaque, with consumers often unable to procure complete information, or enforce accountability against builders and developers in the absence of effective regulation. The Bill is expected to ensure greater accountability towards consumers, and to significantly reduce frauds and delays. The Bill aims at restoring confidence of the general public in the real estate sector; by instituting transparency and accountability in real estate and housing transactions which in turn will enable the sector to access capital and financial markets essential for its long term growth.

The Bill is also expected to promote regulated and orderly growth through efficiency, professionalism and standardization. It seeks to ensure consumer protection, without adding another stage in the procedure for sanctions.

Benefits and Advantages of Real Estate Bill, 2013

·          The Bill will bring about standardization in the sector leading to healthy and orderly growth of the industry throughintroduction of definitions such as ‘apartment’, ‘common areas’, ‘carpet area’, ‘advertisement’, ‘real estate project’, ‘prospectus’ etc. Introduction of the concept of using only ‘carpet area’ for sale which has till now been ambiguously sold as super area, super built up area etc., will curb unfair trade practices.

·     The Bill like other sectors such as telecom, electricity, banking, securities, insurance etc. provides for specialized regulation and enforcement which includes both curative and preventive measures, with powers to enforce specific performance, not available under the consumer laws. The Authority has powers to give directions for specific performance powers to impose penalty for non-registration of projects including imprisonment for continuous violation upto 3 yrs and impose penalty in case of other contraventions.

·    The Bill proposes to register real estate agents which have hitherto been un-regulated, with clear responsibilities and functions, thereby leading to money trail and curbing money laundering.

·    The Bill aims to ensure consumer protection, by making it mandatory for promoters to register all projects, prior to sale; and only after having received all approvals from development/municipal authorities thereby protecting buyer investments.

·     The Bill will promote transparency and fair and ethical business practices, relating to transactions, through disclosure of project details and contractual obligations vis-à-vis the project and the buyer,  promoting informed choice for the buyers. This will substantially reduce the power asymmetry prevalent in real estate transactions.

·    The Bill seeks to establish a regulatory oversight mechanism, through Real Estate Authority(s) and Appellate Tribunal in the States, to enforce accountability norms for the promoter buyer and the real estate agents.

·    The Bill will infuse professionalism and promote planned development of the real estate sector through the promotional role of the Regulatory Authority.

·    The Bill will ensure timely completion of projects, and prevent fund diversion.

·    The Bill provides for a speedy and specialized adjudication mechanism to settle disputes between the promoter, buyer and real estate agents, thereby de-clogging the civil courts and consumer forums, from disputes in the real estate sector.

·    The Bill will catalyze domestic and foreign investment into the sector, thereby contributing to enhanced activity, and increase in GDP growth.

The salient features of the draft Bill are as under:

§                  Applicability of the Bill:

The proposed Bill applies to residential real estate i.e. housing and any other independent use ancillary to housing. However it shall not apply where the area of land proposed to be developed does not exceed 1000 square meters or the number of apartments proposed to be developed does not exceed 12, inclusive of all phases, or an area or number of apartments as notified by the Central Government on recommendations from the appropriate Government, which may be different for different States or Union territories but not more than 1000 square meters or 12 apartments.

§                  Important Definitions:

The Bill will bring about standardization in the sector leading to healthy and orderly growth of the industry through introduction of definitions such as ‘apartment’, ‘common areas’, ‘carpet area’, ‘advertisement’, ‘real estate project’, ‘prospectus’ etc. Introduction of the concept of using only ‘carpet area’ for sale, which has till now been ambiguously sold as super area, super built up area etc., will curb unfair trade practices.

§                  Establishment of Real Estate Regulatory Authority:

Establishment of one or more ‘Real Estate Regulatory Authority’ in each State/UT, or one Authority for two or more States/UT, by the Appropriate Government, with specified functions, powers, and responsibilities to exercise oversight of real estate transactions, to appoint adjudicating officers to settle disputes between parties, and to impose penalty and interest;

§                  Registration of Real Estate Projects and Registration of Real Estate Agents:

Mandatory registration of real estate projects and real estate agents who intend to sell any immovable property, with the Real Estate Regulatory Authority on real time basis without adding another layer of approvals.

§                  Mandatory Public Disclosure of all project details:

Mandatory public disclosure norms for all registered projects, including details of the promoters, project, layout plan, plan of development works, land status, carpet area and number of the apartments booked, status of the statutory approvals and disclosure ofproforma agreements, names and addresses of the real estate agents, contractors, architect, structural engineer etc.;

§                  Functions and Duties of Promoter:

Duty of promoters towards disclosure of all relevant information and adherence to approved plans and project specifications, obligations regarding veracity of the advertisement for sale or prospectus, responsibility to rectify structural defects, and to refund moneys in cases of default;

§    Compulsory deposit of seventy percent or such lesser percent as notified by the Appropriate Government, to cover the construction cost of the project, of funds received by the Promoter, in a separate bank account:

§                  Functions of Real Estate Agents:

Real estate agents not to facilitate the sale of immovable property which are not registered with the Authority required under the provisions of the Act, obligation to keep, maintain and preserve books of accounts, records and documents, obligation to not involve in any unfair trade practices, obligation to facilitate the possession of documents to allottees as entitled at the time of booking, and to comply with such other functions as specified by Rules made in that regard;

§                  Rights and Duties of Allottees:

Right to obtain information relating to the property booked, to know stage-wise time schedule of project completion, claim possession of the apartment or plot or building as per promoter declaration, refund with interest in case of default by the promoter, and after possession entitled to necessary documents and plans. Duty of allottees to make necessary payments and carry out other responsibilities as per the agreement;

§                  Promotional role of Real Estate Regulatory Authority:

The Authority to act as the nodal agency to co-ordinate efforts regarding development of the real estate sector and render necessary advice to the appropriate Government to ensure the growth and promotion of a transparent, efficient and competitive real estate sector;

§                  Fast Track Dispute Settlement Mechanism:

Establishment of fast track dispute resolution mechanisms for settlement of disputes, through adjudicating officers (an officer not below the rank of Joint Secretary to the State Government) to be appointed by the Authority, and establishment of an Appellate Tribunal to hear appeals from the orders of the Authority and the adjudicating officer;

§                  Establishment of Central Advisory Council:

Establishment of Central Advisory Council to advise the Central Government on matters concerning implementation of the Act, with a mandate to make recommendations on major questions of policy, protection of consumer interest and to foster growth and development of the real estate sector. The Council to have among others, five representatives of State Governments, to be selected by rotation;

§                  Establishment of Real Estate Appellate Tribunal:

Establishment of Real Estate Appellate Tribunal, by the State Government to hear appeals from the orders or decisions or directions of the Authority and the adjudicating officer.  The Appellate Tribunal is to be headed by a sitting or retired Judge of the High Court with one judicial and one administrative/technical member;

§                  Punitive Provisions:

Punitive provisions for non registration of a real estate housing project  -  Penalty which may extend up to 10% of the estimated cost of the real estate project as determined by the Authority .

For continued violation or non-compliance of order for registration  - punishment with imprisonment for a term which may extend up to three years or with fine which may extend to a further 10% of the estimated cost of the real estate project, or with both as determined by the Authority .

For knowingly providing false information or willful contravention at the time of applying for registration  and for other contraventions under the law – A penalty which may extend up to 5% of the estimated cost of the real estate project as determined by the Authority.

For any queries, please leave comment on the blog post.