Moneylife Events
Maintain Your Building like You Maintain Your Health
Home owners need to be aware and take proper care not only of their property but also the apartment building like their own health, say renowned structural consultants Achyut Watve, Umesh Joshi and architect Prakash Deshmukh at a Moneylife Foundation seminar in Mumbai
 
People spend their lifetime saving to buy a home or apartment, however, while choosing the apartment building and after moving into it, hardly think about safety and maintenance of the building. "One needs to maintain the home and the apartment building like he/ she cares for own health," say renowned structural consultants Achyut Watve, Umesh Joshi and architect Prakash Deshmukh. They were speaking at an interactive session on "How Safe Is Your Building?" organised by Moneylife Foundation in Mumbai.
 
Mr Watve and Mr Joshi, both Partners of JW Consultants LLP, a highly regarded name in structural consultancy that works with reputed construction companies in India and abroad, said, the owners (of the home) needs to be more aware about the maintenance timeline and follow it rigorously.
 
According to them, during the first 10 years of the building, owners need to maintain all records of the property, like approved architectural plans, structural plans along with design brief, including loading on each floor, parking loads, landscape load and material testing records from builder. The maintenance and care taken of the building over next 20 years will decide its life for 30 year onwards, they said.
 
 
"Owners should regularly inspect and maintain building. While regular painting will seal fine cracks, for structural cracks approved methods of repairing needs to be used. In addition, the residents should also inspect common facilities, electrical systems, fire suppression system in the building and take proper measures to repair, rectify it on time. Also, one needs to understand that waterproofing has limited life and may start leakage later. This also needs to be checked regularly," Mr Watve and Mr Joshi added.
 
They also explained in details about what a homebuyer needs to check while buying a new property. Besides location, accessibility of the property, one needs to check the reputation of the builder as well as contractor, consultant and architects as well. “Some people, while buying a property, look for additional floor space index (FSI) so that floors can be added. However, before checking on the FSI, the buyer needs to check if the building foundation is designed for such additional floor load,” they said.
 
Mr Watve and Mr Joshi, said, “While buying a new home, let’s look for quality in construction materials (steel and concrete), approved electrical wiring, internal piping (GI– class C), quality waterproofing with warranty, anti-termite treatment in foundations, and anti-corrosion systems, which will give you a peace of mind.”
 
Prakash Deshmukh, the immediate past President of Indian Institute of Architects (IIA), and Director of Associated Space Designers Pvt Ltd explained the audience about "Maintenance and Safety of the Built Environment". 
 
Mr Deshmukh, who is widely acclaimed for eco-friendly townships like Magarpatta City and Nanded City in Pune, said there is general lack of public awareness about built environment in India. Built environment refers to the human-made surroundings that accommodate human activities in the buildings and its surroundings including their supporting infrastructure, such as water supply, energy networks, fire safety, security and health. 
 
“Buyers are not aware about these things and to create awareness on built environment, education will play a most important role. When you buy a car, the manufacturer provides you with a manual. However, when you buy a home worth lakhs of rupees, there is no such thing given by the developer. Therefore, maintenance manual should be made mandatory with every project,” he added.
 
Talking about smart cities, Mr Deshmukh said, “The city also should be a liveable place and provide safety and security for all residents. This is lacking in most of our cities today.” 
 
“Poorly maintained buildings provide dangerous living conditions. Because of serious ignorance about the maintenance of buildings and built environment, it results into sick building syndrome (SBS). The SBS is nothing but a situation in which the occupants of a building, experience acute health- or comfort-related effects which seem to be linked directly to the time spent in the building.”
 
Talking about causes for the SBS, Mr Deshmukh said, poor maintenance of building elements such as leakage of water though ceilings and walls, poor indoor air quality due to lack of adequate natural ventilation, poor hygiene and cleanliness indoors as well as outdoors and poor day lighting resulting in growth of bacteria and anaerobic conditions leads to sick building syndrome.   
 
He said, “Building audit should be carried out on a regular basis to ensure the safety, security and health of the buildings. Each project should have a maintenance manual. Based on the audit there should be action program for maintenance. In addition, structural audit must be carried out periodically and effective measures should be adopted for structural safety. Similarly, painting shall be done on regular basis along with the surface plaster coating. Preventive maintenance of building services should also be carried out regularly.”
 
“Maintaining the safety, security and liveability of our buildings and built environment is in our hands. Let us do it,” he concluded.

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SEBI bars Eminence Infraproject, directors from markets
SEBI said Eminence Infraproject collected Rs39.33 lakh from 331 investors by offering 'redeemable preference shares' during 2010-2013
 
Market regulator Securities and Exchange Board of India (SEBI) has barred Eminence Infraproject Ltd and the company directors, Somenath Banerjee, Apu Halder, Supriya Singha Roy, Tarun Kumar Das and Koushik Mukherjee from markets.
 
SEBI said, Eminence Infraproject (EIL) had issued redeemable preference shares and is now restrained from accessing securities market. The company is further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions.
 
EIL had offered 'Redeemable Preference Shares' to a total of 331 individuals/investors and mobilised funds amounting to Rs39.33 lakh during 2010-2013.
 
According to the regulator, the number of persons to whom the allotment was made, was above the limit of 49, in both the cases, and therefore they became public offers.
 
Since, the allotment was a public issue of securities, such securities should also have been listed on a recognised stock exchange, SEBI said, while adding that the company has violated its public offer regulations as also the provisions of the Companies Act.
 

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Nifty, Sensex may try to stabilise and rally – Weekly closing report
If Nifty reclaims 8400, bulls may push it higher
 
We had mentioned in last week’s closing report that Nifty, Sensex were to head higher and that Nifty may head towards 8,700 as long it stays above 8,400. During the week’s trading Nifty fell below 8,400 and closed at 8,299.95. The weekly trends of the major indices are given in the table below:
 
 
On Monday, a sharp fall in July trade data, the rupee value, and poor monsoon rainfall and diminishing hopes of a rate cut disappointed investors, leading to the major indices falling sharply. 
 
On Tuesday, a lowered growth forecast, the widening monsoon deficit and diminishing hopes of a rate cut, coupled with a massive slide in the Chinese stock markets and its effect on the yuan were the major concerns for investors. The slide in rupee value negated the advantage of lower commodity prices like crude oil. The Indian currency closed at Rs.65.32 to the US dollar.
 
Other worries for investors stem from the fact that the Reserve Bank of India (RBI) has shown its reluctance to cut interest rates even after current data showed inflation being under control.
 
Another dampener in Tuesday's trade was global credit ratings agency Moody's decision to lower India's growth forecast for this year by 50 basis points to 7%.
 
However, sector-wise, healthy buying was observed in information technology (IT), capital goods, consumer durables, automobile and technology, entertainment and media (TECK) stocks on Tuesday.
 
On Wednesday, according to analysts, recovery in rupee value and the Chinese markets supported the domestic exchanges in the day's trade. Concerns had grown about the Chinese markets, after various efforts by the government, brokerage firms and mutual funds were not able to arrest the fall. Some estimates point out that the continuous slide in the exchanges of the $10-trillion strong economy has wiped off 40%-45% of the entire stock value in the last three months. 
 
The Chinese situation had brightened hopes of a delay in the US rate hike, the decision for which will come in the Federal Open Market Committee (FOMC) meet slated for September 16-17. Higher interest rates in the US are expected to lead the FPIs (Foreign Portfolio Investors) away from emerging markets such as India.
 
Other concerns such as rupee depreciation were off-set by gains in export-oriented stocks like information technology (IT), pharma and fast moving consumer goods (FMCG). These sectors benefit from the Indian rupee's devaluation and fall in commodity costs.
 
A continuous slide in the Chinese markets, strain in US stocks and uncertainty over the recommendations on retrospective tax subdued investor sentiments in the Indian equity markets on Thursday.
 
On Thursday, the markets were also anxious to know the government's position on the recommendations made by the Justice AP Shah committee on minimum alternate tax (MAT).  The MAT issue on capital gains tax is expected to impact the margins of foreign funds. This might impact the inflows from the FPIs into Indian stock markets.  At the same time, the rupee touched a new two-year low in the intra-day trade at Rs65.69 to a dollar -- the lowest since September 2013. It later closed at Rs65.56. Sector-wise, all 12 indices of the BSE except for fast moving consumer goods (FMCG) and healthcare stocks closed in the red. Sensex was down 1.16% and Nifty 1.44%.
 
On Friday, the downmove in the stock market continued. Heavy selling pressure was seen in realty, auto, capital goods, banking, power and oil and gas sectors, following a massive decline in the US markets on Thursday and Asian markets on Friday. However, marginal positive buying trend was observed in healthcare sector. Major indices fell by nearly 1%. The reasons for the downmove include weak global market cues, persistent weakness of the rupee and developments in China, from where signs are emanating of a further slowdown and devaluation of the yuan.
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 

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