November 20, 2013

Land Pooling Policy Announced by DDA to Control Property Prices in NCR

Delhi Development Authority (DDA) has announced the land-pooling policy which is aimed at freeing land and ensuring infrastructures is in place before construction starts in the new areas of the city under the residential zones. As per the policy around 1.5 million apartments will be launched over the next few years and will have a drastic impact on the property prices in the National Capital Region (NCR) which include Gurgaon and Noida.

Land-pooling Policy

Under this policy, the landowners can pool their land together for construction of infrastructure by the city’s land-owning agency. The landowners will be given 48-60% of it back once the infrastructure is set up.  The owners are allowed to build on this land themselves or give it to the realty developers. By involving private player in planning and development of residential and commercial components, the DDA is planning to bridge the gap between supply and demand in housing sector and the profits earned from the sale of their share will go to the private placers or landowners.

Property Prices in NCR

A senior DDA official mentions that as more homes and planned development will come up, there would be a definite slash of prices in housing sector. He further added that, this pooling policy is a substitute to the compulsory land acquisition and disposal process, as it will be difficult to acquire land under the new land acquisition bill passed by the parliament.

Property consultant DTZ states that this new policy will reduce the sharp rise in property prices in NCR areas such as Gurgaon, Noida and Gaziabad. These places have witnessed 150% increased in prices in the last five years.

Though it will take some time before the first project is launched under this policy but it will certainly have a calming effect on the property market in NCR region. But right now, clarifications are awaited from DDA.

 Property Prices in NCRAnckur Srivastava, Chairman of GenReal Property advisors states that after the pooling policy is in place the property prices in the satellite cities will not see the same kind of rise as it was happening in the last few years and from the buyer’s point of view it will be an ideal opportunity to acquire property in Delhi.

Few people like Mohit Gujral, Chairman of DLF Universal are not convinced that the move by DDA will lead to price reduction. He says that Gurgaon and Noida have already flourished and now they are more of an economic centre but opening of new areas in Delhi might slow the speed of growth in property prices. Mohit also points out that cities in NCR region have a large scale of economic activity and each of them including Delhi will compete with each other and it’s left upon the people to make the right choice.

November 19, 2013

Maharashtra CM inaugurates 10th international real estate summit in Mumbai

The FICCI organized the 10th international realestate summit in Mumbai which was inaugurated by Maharashtra chief minister, Prithviraj Chavan. Many industrial stakeholders attended the summit which was themed on the empowerment of real estate through new policies, competition and partnerships.

FICCI, an association of Indian business organizations has been raising their concern over real estate trends and changes which are linked to the economy of the country. The chairman of FICCI in his speech mentioned that Mumbai needs infrastructure and taxation reforms in the real estate sector with active support from government. Adding to his point, Arun Kumar Misra, ministry of housing and urban poverty alleviation said that the government should stir up the growth of country’s economy with new investments.

On the occasion, Chief Minister Prithviraj Chavan along with other guest dignitaries released the FICCI-EY Annual Real Estate Report 2013 and FICCI Real Estate Company Directory 2013-14. During his speech, the CM explained his idea of creating rule-based governance to have a transparent and a level playing field in the real estate industry. While talking about the Real Estate Regulatory Bill, he said, “We passed the bill in July 2012 and it is still pending before the parliament for reasons we don't understand but such delays are beyond our control."

real estate in mumbai
He also added about the infrastructure, “… projects like Eastern Freeway and Santacruz-Chembur cross road were launched; Metro and Monorail will also be commissioned soon. The land acquisition issue for the Navi Mumbai airport has been solved. In a land-for-land deal and cashless compensation, the PAPs will be housed in a new township called Pushpak Nagar to be developed by CIDCO. A lot of projects like the coastal road, the third metro from Colaba to Seepz are on cards. We are also training town planners and have proposed to start an institute of town planning in Pune.”
He asked all the stakeholders to extend support in bringing a fair practice thereby creating a positive and vibrant real estate market in Mumbai. He also promised that there are many other real estate related reform ideas in the pipeline. Ad Buisman, Partner, Head of Real Estate, Middle East, India, Europe and Africa, EY contributed by saying that India needs to improve the infrastructure, legal enforcement, property rights and title clearance, legalizing FDI norms etc.

November 15, 2013

Luxury Homes on a Low Budget - Classy Kitchen Updates

Luxury Homes on a Low Budget
The kitchen trends frequently change with the invention of new appliances every day. The interior of luxury homes focus mainly on the kitchen place which includes modular kitchen and complementing cabinet work.  A renovated kitchen design can give a new definition to your old home. Here are a number of ideas that will help you reinvent the kitchen as you desire, under budget and will give an appeal of a luxury home.

Update the Cabinet Hardware

The cabinet made of wood is always preferred as it gives a classy look. Although cabinets are made of steel, plastic material etc., the use of wood will add an alluring effect to your kitchen. The utility cabinets need to be thick and durable to carry more storage material. Look for termite resistant and thermal tolerant hardware units for long lasting cabinets. Try iron or brass finished handles for the wooden cabinet doors. The stainless steel cabinets are widely used for its sleek design and are mostly fitted during the construction work.

You can find a variety of cabinets in different shapes, color and finishes that will pair up with your kitchen walls and floor. Most of the luxury apartment builders opt for modular kitchen with the perfectly finished wooden cabinets.

Try Open Shelves

Instead of having closed door cabinets that give an ordinary look, try open shelf cabinets. The open shelves will exquisitely showcase the contents of the cabinet, forming a great appeal to your kitchen. You can also use the glass doors to cover the cabinet to avoid dirt and dust particles occupying the cabinet space. Frosted glass is a good candidate to obscure the cabinet content yet giving a contemporary look.

Arrange the utensils

Arranging the utensils is the most important part of renovating your kitchen. You can hang the pans, ladles, utensils and other cooking must haves to the wall using a rod but also make sure that they are easy to use when required. Leave the less used utensils inside the cabinet on top shelves and arrange the more frequently used plates and pots within a reachable distance.

Luxury Homes on a Low Budget

Use refreshing Colors

Some cabinets look weathered and worn but still remains intact and durable. You can paint these cabinets with refreshing colors and save a lot on your budget.  You can try colors that suit your floor and look contrasting to your walls. This way, the cabinets will look distinctive and highlighted which gives a modern appeal to your kitchen. You can try either subtle colors that are classy and pleasant, or bold colors that will make a fashion statement.

Make way for storage

Apart from the regular cabinets, you can add new storage spaces in the kitchen. Try to leave your grocery and dishes inside the storage space which will add more space to a small kitchen. Try installing shallow floating shelves attached to the unused corners of the wall to display the glassware and festive dishware.

Change the lighting

Even a dull kitchen can restore its freshness with change in the light settings.  If you have the dining area attached to the kitchen, use chandeliers on top of the dining table. Use task lights for the kitchen work area, near the stove and counter-top. Try installing small accent lights fixed inside the glass cabinet to give an emphasized view.

Your normal kitchen can look luxurious under budget if you can be little creative and concentrate on the renovating products. You can also get the help of professionals to remodel the kitchen with contemporary design.

Luxury Homes in India

Luxury Homes on a Low Budget
In India, most people choose the luxury homes which include sophisticated building with modular kitchen, superior wooden finish, swimming pool, gym, park etc.  Listed below are a few of the leading builders from various cities who offer luxury homes within budget.

1.    Isle Royale villas and apartments
By Gera Developers in Pune

2.    Trump Tower project
By Donald Trump and Rohan Lifescapes in South Mumbai

3.    Shobha international City
By Shobha Developers in Gurgaon

4.    Aurum Villas
By Pacifica Companies in OMR, Chennai

5.    Silvana Villas and Row houses
By Pruksa India Housing Private Limited in Bangalore

November 13, 2013

Pace Anusa Tambaram West, Chennai

Tambaram growing at a good paceLocation: Tambaram, Chennai Price: Starting from 32 lakhs PaceAnusa - The exterior of Pace Anusa apartments has been shown along with the adjoining highway on which the project is located. It is developed by Pace Builders and is located at Tambaram West, Chennai.

Special Economic Zones in India

Special Economic Zones or SEZs are areas singled out for large scale economic growth through the implementation of liberal laws which encourage development. The financial policies in these areas are far more business-friendly when compared to the central policies. This is a concept which has become very famous in developing countries like India.

Special Economic Zones in IndiaThe main objective behind this is to attract mass international funding in the real estate segment. Residential real estate, commercial properties, housing and township planning have all seen major investments due to these policies. Due to this success, the model of SEZs has become a huge hit in India. Many top companies are trying to establish SEZs in the country as they are benefitted hugely through this. In turn it helps develop the real estate and provides employment in areas where infrastructural development would not be possible otherwise.

The SEZ Act of 2005 was instrumental in instilling confidence in foreign investors. A comprehensive draft, it imparted stability to the system and convinced stakeholders about the Government’s commitment to encouraging businesses. Over the course of the last few years phenomenal growth has been seen in this sector. 2003-12 saw a growth of 50.5%. Major SEZ supporting regions are the South Indian states of Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. Gujarat also has a good number of SEZs. SEZs have contributed greatly to economic development in these areas. Many outlying regions that would not have seen much development otherwise have become hubs of business and commercial activities. Real estate developers have shown much interest in SEZs. SEZs have been created to facilitate the building of two and three BHK luxurious townships, and low rise luxury apartments. The many benefits offered to developers allow them to cut down costs in the construction of such projects. The end result is that customers and clients get homes at cheaper rates too. Some of the major benefits for developers are:

1.    Custom and Excise duties are exempted.
2.    There is also an exemption of the Income Tax for a specified time period.
3.    Central State Taxes are also waived.
4.    No restriction of maturity on borrowings of up to 500 million US dollars per year.
5.    Plots leased to the SEZ developer are exempt from registration fees and stamp duties.

The government has also made changes in the SEZ act which have been be a boon for the real estate industry. In a move earlier this year, the government had done away with a law that required a minimum of 10 hectares of land to set up an SEZ. The new rules stipulated that area requirements would be 1, 00,000 square metres in major cities and 50,000 square metres in Category B cities. So developers who have already met the criteria can use the remaining land for residential projects. It will lead to the emergence of many walk-to-work localities. The push for equity companies to make foreign deals will also increase and this will lead to greater Foreign Direct Investment (FDI). It is a move that has given even more incentives for construction of SEZs – definitely a right move for the future.  

November 12, 2013

Shraddha Pioneer, Hathijan, Ahmedabad

Shraddha Pioneer, Hathijan, AhmedabadLocated near the Radhe Upavan Club in Hathijan, Ahmedabad, Shraddha Pioneer is the latest offering by the JBL Buildcon Co. A modern apartment complex with latest facilities, these new residential apartments have a lot to offer for prospective buyers. With a number of public amenities like schools and healthcare institutions on offer in Hathijan, it is a great place to bring up your children. There are one and two BHK flats available in this project. The one BHK flats come in four different types depending on area – 65 sq yards, 82 sq yards, 89 sq yards and 102 sq yards. The prices are also set according to the area. These flats are priced at Rs 11.05 lakhs, Rs 13.94 lakhs, Rs 15.13 lakhs and Rs 17.34 lakhs respectively. The two BHK flat covers an area of 113 sq yards and can be bought for a reasonable 19.21 lakh rupees. The entire project has been approved by the Punjab National Bank. Possession is set to begin by November 2014.

There are a number of features available for the residents here. 24 hrs water supply and security are provided. Sufficient park space will be provided for each flat. Lush green gardens are present to beautify the colony and make for natural surroundings. There will also be a children’s play area, skating rink and sports courts for health and recreation purposes. It is located at a favourable place, being just five minutes away from the SP Ring Road. The Express Highway is also situated right next the apartments.

November 11, 2013

Retirement Homes in India

The trend of constructing retirement homes is catching up in India as many senior citizens in India are opting to live in retirement homes. Currently, there are around 30 completed retirement homes in India, out of which 7 are in Bangalore, the highest in India. Apart from this, around 30 projects are in the pipeline across India.

Many elderly people now want to spend their life comfortably with not many physical activities and mental stress; that is, with the daily chores such as housekeeping and cooking taken care of. There are many factors that drive retirement homes in India:
  •     The finances of senior citizens are better compared with earlier days
  •     The stigma that was associated with retirement homes is gradually reducing
  •     The joint family system is giving way to nuclear families
  •     The expectancy of life is getting better
  •     The need of companionship of the same age
Types of retirement homes

retirement homes

    Independent living: As the name suggests, independent living is for senior citizens who can take care of themselves. Most of the retirement homes in India provide independent living. Independent living is again divided into three models:
  •     Outright buys
  •     Long lease
  •     Rentals
    Assisted living: This is for those seniors who require physical and medical assistance 24/7. This assistance is provided by non-profit organizations, such as Dignity Foundation in Mumbai and Nightingale in Bangalore.

    Palliative care: For those with incapacitating illnesses

Facilities provided by retirement homes

Medical care: As these projects are specifically customized for seniors, focus is on the medical needs of senior citizens. These medical facilities differ from project to project. Medical facilities include 24/7 ambulance service, 24/7 nurse assistance, out-patient department and physiotherapy services among others. Generally, the developers have a tie-up with hospitals and medical care providers. For example, Tata housing development in Bangalore has a tie up with Apollo Health Care for medical facilities. Athashri, a retirement home by Paranjape Constructions, has a tie-up with three hospitals for medical care of the residents.  

Food: All these retirement homes have a mess facility for an affordable price. The menu is specifically designed for senior citizen’s nutritional needs. Customised food is also provided for residents who have special needs due to their illness. The rates are different in each facility. Athashri Mess charges Rs. 45 per plate, whereas in Ashinan Retirement Home, each plate is Rs. 60 to Rs. 80, depending on the quantity.

Comforts of home: The best advantage is that these homes provide the comfort of a home since they are different from the traditional old age homes. One can enjoy modern amenities and have fun-filled, healthy and adventurous lifestyle in retirement homes.
Homes in India

Safety and security: Many of the retirement homes provide round the clock security service. Apart from it, they have the CCTV facility. Also, the people are residing there are provided with intercoms in their rooms to contact while medical emergency or in case of any accident.

Restrictions of Retirement homes
Age: People above the age of 55 years can reside in retirement homes.

Cost: Retirement homes are more costly than a normal residential house. For example, a normal residential project costs Rs. 6000 per square foot, whereas, a retirement home will cost approximately Rs. 7000 to Rs. 8000 per square foot as there is a shortage of retirement homes in India.

What happens mostly is that developers get the annual contract signed by the residents for maintenance, security, medical facilities and food. The annual maintenance cost is approximately between Rs. 15000 to Rs. 50000. Even if a resident does not want specific facilities, he still needs to pay the annual maintenance charges. Electricity, water, food are charged based on annual consumption.

Inheritance and resale: The retirement house can be inherited by other people; however they cannot live there until they reach the eligible age, that is 55 years. In such case, either the home will be shut or can be rented out to another senior citizen. In cases, where the heir wants to sell the property, the new residents should be a senior citizen.
Some of the retirement homes in India
  •     Athashri, Bangalore
  •     Aamoksh One Eighty, Kasauli
  •     Aarogya Kudumbam, Coimbatore
  •     360 Realty, Bangalore
  •     Moksh Homes, Bangalore
  •     Serenade Homes, Bangalore
  •     Quality Homes, Bangalore
  •     Concept Homes Pvt. Ltd., Chennai
  •     Nandhavanam, Chennai
Retirement homes are costly and are for the people who are wealthy or have non-resident Indian children who can afford to buy such properties for their parents in India. Another disadvantage is that if one wants to sell this property, the new residents should only be a senior citizen only; this creates illiquidity problems for real estate agents.

November 8, 2013

An Affordable Haven for Property Seekers

Avadi is a fast growing suburb in Chennai and it comes under the Thiruvallur district. Located about 23 km North West of Chennai, it is a hub for major defence establishments like the Indian Air Force, Indian Army, Heavy Vehicles Factory (HVF), EFA-Engine Factory, Avadi, Combat Vehicles Research and Development Establishment (CVRDE), Central Reserve Police Force(CRPF), Indian Navy, Central Vehicle Depot (CVD), The Ordnance Depot [OD], Unfit Vehicles park (UVP) and the Ordnance Clothing Factory (OCF). The driving force of growing real estate in Avadi is its affordable cost and proximity to the Ambattur industrial estate hub.

Avadi is well connected to Chennai via rail and bus transport services. The nearest railway station is the Avadi railway station which connects the area to the Chennai Suburban Railway Network. There are regular suburban trains from Avadi to Tiruthani, Chennai Beach, Arakonam, Chennai Central and Thiruvallur.
Property Seekers
In addition, a few express trains travelling down south make a halt at Avadi. The Avadi bus terminus is just a few minutes’ walk from the Railway Station where buses travel to various destinations like Tambaram, Broadway, Thiruvanmiyur, Anna Square, Vivekananda illam, Mandaveli, Poonamallee, CMBT, Thiruvallur, Periyapalayam, and Arani. The surrounding area includes Ambattur, Korattur, Puzhal and Surapet. The main road that connects the city to Avadi is the Kovilpathagai Main Road.
Residents of this locality have access to reputed schools, colleges, hospitals and banks which is the main reason for increased demand for flats in Avadi. Popular schools in this area are Nazareth Matriculation Higher Secondary School, R.C.M Higher Secondary School, Vijayanta Higher Secondary School (V.H.SS), Vijayanta Model Higher Secondary school, Kendriya Vidyalayas, St.Antony's Middle School, Jaigopal Garodia Vivekananda Vidyalaya, VGN Chinmaya Vidyalaya, G.K Shetty Vivekananda Vidyalaya (K.Nagar). Leading colleges like Vel Tech Dr.RR snd Dr. SR Technical University, St. Peters Engineering College, Vel Tech Engineering College, Vel Hightech Engineering College, Vel Multitech Engineering College, Aalim Muhammed Salegh Group of Educational Institutions, Nazareth College of Arts & Science, St. Peters Arts and Science College, S.A Engineering College, Mahalakshmi Women's Arts and Science College, Nazareth College of Education for Women etc. One can find hospitals like the Police Hospital, Heavy Vehicles Factory Hospital and CRPF Hospital which cater to the requirements of employees working in defence establishments.
Since this locality is populated by defence establishments, the population comprises mainly  military officials and middle class people who look for residential apartments in Avadi. The population residing in this suburb is mainly end users, as the Avadi real estate sector is more affordable when compared to its neighbor Ambattur.
 plots for sale in Avadi
Realizing the potential of the suburb, builders in Avadi are coming up with a variety of projects to cater to the needs of various segments. One can find residential plots, lands, independent houses and flats coming up in this locality. Some ongoing projects in Avadi are Elite Ester, Elite Nest and Elite Pearl by Elite Homes, Twin Paradise by AJS Promoters, Asvini NRD Towers by Asvini Foundation, Retreat by Sumanth and Co. Builders like Asvini and Sumanth provide luxurious apartments with innovative amenities like a senior citizen’s nook, basketball ground, lawn party areas, 24/7 power backup and outdoor fitness zones among others.
The average price of residential plots for sale in Avadi is Rs 10,000 per square yard and flats for sale in Avadi can cost around Rs 2948 per square feet.
A good time to invest in flats or plots in Avadi is now, as the prices are affordable and all amenities required can be found in Avadi.

November 6, 2013

Industrial Estate Giving Rise to Suburb Called Thirumullaivoyal

Real Estate in ThirumullaivoyalChennai is increasingly getting popular with major real estate development; in the last few years joining this brigade is the temple town Thirumullaivoyal. Located on the west part of Chennai, this locality is surrounded by Avadi to its west, Red Hills Lake and Puzhal Lake to its north and Ambattur to its south and Oragadam to the east. Proximity to Ambattur and Avadi has made it a most sought out residential neighborhood, which provides the residents, both the amenities of a busy suburb and also as a calm and quiet place with beautiful temples to wind off on a stressful day. This beautiful suburb invites investors to purchase plots in Thirumullaivoyal.

Thirumullaivoyal is well connected by both railways and roadways to other parts of Chennai and the Chennai Metropolitan Area. The nearest railway station is Thirumullaivoyal railway station that connects residents to various parts of Chennai as well as with Bengaluru, Arakonam, southern parts of Tamilnadu, and to Kerala and Karnataka. Most of the MTC buses operate from Avadi to Tambaram via Thirumullaivoyal.

This locality is populated with well known temples. The most famous temples of this locality include the Pachai Amman Koil, Masalimaneeswarar Sivan Koil and Sholingakeswarar Sivan Koil.
Though, being a temple town, this place has no shortage of schools and colleges. There are Ebenezer Modern Matriculation School, Rangawamy Matriculation Higher Secondary School, Sri Venkateshwara Matriculation Higher Secondary School, Kalaimagal Matriculation Higher Secondary School, Salvation Matriculation Higher Secondary School, St. Michael's Polytechnic College, Vel Tech Polytechnic College and Bhajarang Engineering College. Hospitals like Sri Sai Specialty Hospital, Government Hospital and Cherish Hospital are housed in this locality. Good Connectivity to industrial hub, schools and colleges are the boon to this area and is encouraging people to migrate to this peaceful land by purchasing apartments in Thirumullaivoyal.

Real Estate in Thirumullaivoyal

Real Estate in Thirumullaivoyal
The real estate revolution here started in 2006 which changed the complete picture of this locality. Basically, an agricultural locality, after the inception of industrial estate in Ambattur, this area was more in demand for residential purpose. Workforce working in Ambattur started to migrate here to be in the proximity to workplace, thus the demand for residential flats in Thirumullaivoyal. Witnessing the demand, a host of independent houses, flats / Apartment are been constructed here. Also, there is demand for residential houses for sale in Thirumullaivoyal. Few of the renowned builders in Thirumullaivoyal are Abhi Arthi Builders and Uma Builders among others. Some of the ongoing projects in this locality are: Zam the Address by Zam Zam Builders, Sunrise Apartments by MR Foundation and Acrospire by ICIPL, Vtech Venus Garden by Vtech Builders, RC Woodside by Rajarathnam Constructions, Crest Castle by Oyester Homes and SBA Taraka by SBA Associates.
The price has been steady for past three months. The average price for flats in Thirumullaivoyal is approximately Rs. 3400 per square feet. The land for sale in Thirumullaivoyal may cost Rs.300 per square feet.

The area enjoys a clean and calm environment, and also the proximity to important centers of the city and beyond adds advantage to this locality. Due to this, the price appreciation of this locality in the near future might be very good.

Noida-Greater Noida Expressway – One of the Most Happening Place in the Country

Noida-Greater Noida ExpresswayThe Noida-Greater Noida Expressway which is a 6-lane highway linking Noida with Greater Noida, is a fast developing region with both social and commercial infrastructure facilities being built rapidly. This wonderful expressway further links to Yamuna Expressway, which is why several builders and developers feel that this zone holds tremendous potential for residential and commercial realty growth and are queuing up to develop quality projects along this stretch. There are great expectations that end users and investors will find this region appealing, as it boasts of first-rate social infrastructure facilities and is expected to yield good appreciation in the coming five years.

A number of developing and developed Sectors like 94, 95, 96, 97, 100, 107, 110, 124, 128, 137, 142, 143, 149, 150 and 168 are all part of Noida-Greater Noida Expressway. These sectors offer a range of choices in budget, mid-segment and luxury housing projects accompanying top class facilities and latest technological features. Some of the first-rate affordable as well as high end residential projects developed in this expressway and sprinkled across various sectors are Jaypee Greens Orchard, Jaypee Greens Kingswood Oriental, Jaypee Casablanca, Supertech Supernova, Victory Ace, Paras Tierea, ATS Pristine, Paras, Lotus Boulevard, Paramount Floraville, Kensington Boulevard, Gulshan Ikebana and Antriksh Golf City. Prominent realty developer Jaypee Group in fact has large parcels of land in the Yamuna Expressway belt that links to Noida-Greater Noida Expressway, on which it expects to develop gated communities with self-contained townships, holiday homes with world-class amenities for investment purpose.

Greater Noida Expressway

In addition to some of the high-end and premium apartments, a number of social infrastructure developments including educational institutions, hospitals, supermarkets, shopping malls, 5-star hotels, ATMs and other commercial centres are expected to develop along the stretch while improving the overall quality of living of people moving in. Planned underpasses, flyovers, city roads and metro line are physical infrastructure developments that are further going to encourage people to come and invest here while improving transportation and travelling.

Though most of the residential realty projects are high-end ventures involving high investment, there are also a number of projects targeted at middle income group on around 3 to 5 km belt along this expressway. Some of the prominent premium and high-end projects that are being developed along this belt include ‘Unitech Grande’ and ‘Unitech Cascades’ by Unitech, ‘Supernova’ by Supertech and ‘The NRI City’ and ‘The Forest’ by Omaxe Group. Besides these, some other premium residential projects include Heartbeat City and Sapphire by Amrapali, ATS Green, Vivante by Gulshan Homz, Eco City and Emerald Court by Supertech, Prateek Laurel and Prateek Wisteria by Prateek Group and Daffodils by Ajnara. A number of already developed realty projects in this belt have not only been lapped up by investors but have also witnessed good appreciation in the last two years.

Nearly all developers having their projects along the Noida-Greater Noida Expressway are quite optimistic about the future of this expressway. They feel that seamless connectivity, close proximity with Delhi and top-rate infrastructure will play an important role in making this expressway a prime and costly real estate destination in the coming two to three years. The basic property price along this expressway is Rs. 4700 per sq. ft. and above, depending on the exact location, type of realty project, size and amenities offered by the developer, etc. With exclusive plans being proposed to improve basic amenities by installing power generation unit, sewage treatment plants and more road network and land being allotted for green projects, the area is most likely to be the top property destinations in the country.

October 31, 2013

Symphony Towers, Behala, Kolkata

Symphony Towers, Behala, KolkataThe Behala region in Kolkata has seen a spurt in the residential real estate market in the last few years. A number of new projects have come up and one such is the Symphony Towers. However, what sets it apart from the rest is the world class facilities and lifestyle offered to its residents. There are three grand towers which will hold the residential apartments and there is about 67% open space for natural surroundings. There are only three BHK apartments offered in this complex. But they are definitely worth every rupee you spend. The area ranges from 1250 sq ft to 1495 sq ft. The cost will be from Rs 48 lakhs onwards and possession will be given to buyers within three years of commencement of construction.

The entire towers are constructed form RCC and are earthquake-resistant. The flooring will have high quality vitrified tiles in the main rooms of the house. Kitchens and toilets will have anti skid ceramic tiles to ensure the safety of users. Doors will be made of teak or other hardwood. Godrej locking systems are to be provided with the door. Security will be provided around the clock, and there is an emergency fire detection system. The architecture especially will be noteworthy with famous architects having helped designing these beautiful apartments. Elegant staircases and a spacious lobby is one of the hallmarks. The area of Behala is one the upcoming areas of Kolkata and there are a number of good schools and colleges here. Connectivity is also not a problem. 

October 30, 2013

12 Tips to Choose the Best Home Loan

Buying a home is one of the most important investments for most of us. There are a lot of banks offering home loans to construct a house which can be paid back using Equated Monthly Installments (EMI).  One can easily avail a home loan but the trick is to find the best loan that is flexible and beneficial. Here are a few tips that can help you choose the right home loan.

mortgage broker

1.    Finalize your property beforehand

The first step in applying for a home loan is to finalize the type of your property. It can be a self-constructed house, a ready to move-in house or a property under construction. Each bank will offer loan for a particular type of property. Once you have finalized, narrow down the banks that offer loan for your preferred property type.

2.    Look in to the loan eligibility criteria

The home loan eligibility criteria are generally based on the income and the repayment track record of an individual. If a bank offers low amount, try different banks which can offer maximum sum. In the current trend, you can easily avail a home loan if you opt for a maximum tenure.

3.    Choose the best interest rate

Choose the best interest rate

The interest rates are usually fixed or floating. If you choose floating, the interest rates are either calculated on monthly basis or daily basis. It is wise to choose the floating rates calculated on daily basis. This will help you save more money. So before applying for the loan, ensure if the lender’s floating rates have come down over the past 2 years.

4.    Compare the interest rates

It is necessary to compare the interest rates available by different lenders. To get better visibility on the true cost of the loan, check the comparison rate. The comparison rate includes the interest rate offered by the lender along with the fees and charges related and provide a percentage which will be more than the interest rates advertised. You can calculate the true cost and compare it with other lenders’ loan value.

5.    Understand the whole package

If a lender offers a low interest rate, there are chances that the loan might have a higher fee amount. Most banks offer only 80% of the budget, but if a bank offers you 100%, then there are possibilities for higher interest rates and processing fee. Thus, it is necessary to understand the whole package structure before applying for the home loan.

6.    Check for hidden costs

The actual rates will differ from the advertised rates, so read the loan documents carefully and get to know the hidden costs which generally include legal charges, valuation fees, pre-payment charges etc. You can check for a home loan that has zero moving charges.

7.    Ask about the processing fee

The banks collect the processing fee for any loan application which is non-refundable. This fee is usually 0.5% to 1.0% from the total loan amount and it doesn’t assure the loan approval. This amount is used to verify the documents and to complete the formalities for the home loan. The processing fee is tax deductible and thus you can enquire if your lender can provide a certificate regarding the fees payable in order to claim the deductions.

8.    Consider lock-in period

The lock-in period is the time frame of your home loan’s full settlement period. This usually varies from 3 to 5 years. You can negotiate on this and ask for a lesser term of 3 years.

9.    Early settlement penalty

Usually banks have a prepayment penalty clause in their loan offers to compensate the loss of interest due to early settlement. The penalty charges vary for different lenders and usually charged around 3% from the loan amount or the outstanding balance.

10.    MRTA availability

The Mortgage Reducing Term Assurance (MRTA) also called as Mortgage life Insurance, as it will help the borrower to settle the loan in case of any mishap. The lender will always provide the MRTA but you can also use your existing life insurance cover.

11.    Redraw facility

Redraw facility is an option where a borrower can make additional repayments to the loan account. This way, the borrower can save on the interest rate and will also have the flexibility to access the fund when required. Some banks offer this facility with an activation cost. If your lender provides this facility, then it is an added advantage.

12.    Consult with a mortgage broker

Asking questions to the lender about the loan is the best way to avail a beneficial home loan. A mortgage broker has the knowledge to ask the right questions to the lender. You can also use the help of the internet to understand, compare and avail the best home loan.

October 28, 2013

Wave Irenia, Sector 32, Noida

Wave Irenia, Sector 32, NoidaWave Irenia is latest tower building of the township being built by Wave Infratech in Noida. The township will cover an area of 152 acres in the middle of Noida city. The Irena is going to be the flagship luxury apartments of this project. The precise location is at Pracel 2D, Sector 32. The tower will have two and three BHK air conditioned flats. The two BHK apartments are available in three varieties depending on the area – 880 sq ft, 970 sq ft and 1050 sq ft. The cost for these residences is Rs 72.16 lakhs, Rs 79.54 lakhs and Rs 86.1 lakh respectively. The three BHK flat will cover an area of 1305 sq ft and will cost around Rs 1.07 crore. Possession is set to begin by the end of 2015.

The amenities and facilities offered to residents are of premier quality. The entire complex is Wi-Fi and IPTV enabled. There will be a standard wardrobe in the main bedroom, along with an inherent chimney in the living room. Hob and fibre optic connectivity will also be provided. The flooring will consist of imported marble for living rooms and vitrified tiling for the bedrooms. Other rooms will have matt and ceramic tiled floors. All doors will be made of natural hardwoods. Windows will be constructed of UPVC.

Noida has come up in the recent years as a business, entertainment and commercial hub of the NCR. Wave Irenia will be situated in the centre of this hub and is going to be a great investment.

October 25, 2013

Choosing the Best Home Loan

Best Home Loan
Before choosing a finance company for your home loan, you need to know:

  •    Your own credentials
  •    Finance cost and interest rates
  •    A good home loan lender who can help you through the whole loan procedure

Let’s look at some of the guidelines to choose the best home loan:

  • Check your home eligibility: When you are applying for a loan, check with various banks, as every bank has its own method and standard for calculating eligibility. Generally, it depends on the income and the repayment track record. Adding up the spouse income is a good option to increase the eligibility of the home loan. There are various factors that a finance company looks out before approving a loan:
  • Income: The income or salary determines the amount of home loan one is eligible for.
  • Duration of the loan: The longer the tenure of repayment, the more is the home loan eligibility.
  • Interest rate: If your interest rates are on a lower side, than the loan eligibility will be higher and vice versa.
  • Rate of interest: One is always left in a dilemma while opting between fixed and floating interest rate. Generally, it is assumed that fixed interest rate will be the same throughout the loan tenure, but sometimes it may change after a certain period of time. In such case, either your EMI amount or the loan tenure can increase. Hence, it is better to clarify with the finance company before choosing fixed rate of interest.
Benefits of fixed rate

Floating interest rate varies with the market condition. This rate is tied to a base rate plus a floating element. Thus, if the base rate varies the floating interest rate automatically changes.

Benefits of fixed rate:

  •     Interest rate is fixed throughout the tenure of loan period
  •     It provides sense of certainty and security

Benefits of floating rate:

  •  Floating rate is cheaper than the fixed rate.
  •  Floating rate brings a lot of savings, as the interest rate will surely fall over a period of time
  •  Calculation of home loan amount: The calculation of home loan differs in each home finance company. Some company calculates the amount on the basis of gross salary, while some calculate it on the net income. These calculations will make a difference to individuals as EMI varies based on this calculation. One can look at various banks and do a comparative analysis before choosing the best deal.
  • Prepayment and foreclosure benefit: Finance companies have certain terms and conditions on prepayment and foreclosure. Individuals should clarify such points before closing the deal:
  • What are the prepayment charges?
  • Whether there is a penalty for foreclosing of the outstanding loan amount with the lender?
  • What is the fee that is charged when transferring the loan to another bank?
  • You can opt for the loan, once you get a complete clarification on all the issues and interest rate offered.
  • Check for any hidden costs: Generally, people think that one have to pay only the interest once the loan is approved. But they forget to look at the large hidden costs that are involved when applying for loan, such as, legal charges, valuation fee, processing fee and pre-payment charges. All these fees and any other hidden cost have to be checked before a loan is availed.
  •  Processing fee: Banks always charged a processing fee from the potential customers when they apply for loan. This fee is non-refundable and is 0.5 to 1% of the total loan amount. Paying this fee doesn’t mean that the loan is approved. It may happen that you pay the processing fee, but still the loan is not sanctioned due to various reasons. Hence it is important to have a written agreement with the bank and this agreement can be utilized if one is switching from a floating interest rate to fixed interest rate and vice-versa.
banks for home loans

Some of the popular banks for home loans:
  • SBI Home Loan: This is India’s largest bank and is regarded as the best bank for its loan schemes. It is the most preferred bank in the housing industry.
  • HDFC Ltd. Home Loan: HDFC has its branches in 100 cities in India and it is the only bank that has come up with 30 year tenure for loans.
  • Axis Bank Home Loan: Axis Bank is one of the upcoming banks in the home loan category. Until now it has captured around 5-6% of the market share.
  • LIC Home Loan: This home loan is from the house of Life Insurance Corporation of India. They currently hold 11% of the market share
  • In the end, the decision is completely on the borrower, if he is interested in security and certainty, the fixed rate home loan is the best. But, in any case before applying, one must verify the details, do a comparative study and decide which one suits him the best in order to not agonize over the decision in the future.

October 24, 2013

Join the Green Home Revolution

Join the Green Home Revolution Green homes in India are on the rise. Statistics show a phenomenal 5 – 7% growth in the green home sector during the last 2 years. Experts predict that the next decade will see an influx of green homes which utilize less water, optimize  energy savings, consume  less natural resources and enhance construction management.

Builders in Chennai for instance have geared up to provide solar panel homes in complete gated communities.

Mumbai builders has more than 300 + registered green home projects spread over approx 229 million square feet.  Delhi builders are second with 200+ projects, followed by Bangalore and Pune.

Until you buy your own green home though, you can always join the green revolution!

Having a garden aids is the first step to a green home.  Here are a few tips on how to have the perfect garden:

Who would say NO when it comes to relaxing in the garden? Gardens have always been the preferred place to relax and soothe your senses. While a garden provides room for flowers and vegetables to grow, a perfect garden should trigger our emotions and enlighten our architectural skills.

Here’s how you can transform into an expert while discovering the art of coming up with a perfect garden. Sometimes, laying a separate pathway from the entrance to the sit out could also be the best idea to add aesthetic beauty to your garden space.

Below are few more options: 

Divide the open space

Green Home Revolution

 This is one of the simplest ways of adding beauty to your garden. All that you’ll need to do is, break up the lawn into small sections with flowing designs scattered with colourful flower beds. This will give an exciting contemporary feel to the garden and will add more interest than just a big green patch with colourful borders. You can also break up the space using different types of pavements and stones. The combination of pebbles, stepping stones and pavements give a unique visual treat and will also help prevent rainwater runoff.

Make a grand entrance

Plan for a low-level wooden door gateway. This could enhance the beauty of your garden. Plant evergreens, especially the junipers on both sides of the gate, or even along the pathway in order to create that formal feeling.   
Let your eyes travel

Pave more than two different directions from the main path. This will add up more mystery and will make the visitor curious about where the diverted paths lead to. It also gives an amused feeling when they end up hitting your garden. Let your sight be more active than your feet!

Put the right colours together

Come up with innovative ideas by adding a colourful combination of plants. Use various colour combinations of plants and flowers to soothe the eye. Choosing the right place for each colour is an important decision too. For example, beautiful pink meadows look wonderful on a green base. Play with colours. Do not panic about accomplishing the desired combo, you could end up having a totally breathtaking beautiful colour-combo at the end of it!

Include a garden room

Include a garden room

 Now, if you are wondering what a garden room could be like - be sure that it has nothing to do with traditional cement and bricks. It is as simple as planting four medium sized evergreens, such as spruce, in a square to create a garden room. 

Diverge with the texture

Texture is as important as the colours in your garden. Sometimes, repeating a texture creates a sense of uniformity. But don’t forget, too much of the same texture creates boredom as well. Bringing in some visual contrast will add brilliance to your garden. You can make use of other artificial material other than the natural plants and flowers to bring out this visual contrast. Such artificial things could include your antique furniture. 

Play with the junk

Smart gardeners come up with creative recycling and reusing junk materials. Starting from boots to bottles, and coffee tins to cattle troughs, decorative gardens provide ample possibilities to explore. Bottle turned vases, foot tub turned into pond gardens, boot planters; recycled glass and coffee tins etc are the common junks you could make use of to decorate your garden.

Decorate your fence

Decorate your fence

 Picket fences covered with fresh greenly creepers add more charm. You could also opt for hanging a small bouquet in the entrance of your garden to create that welcoming feel. Also add your signature touch by adding up a small watering mug or some loved collectibles that serve its purpose in your garden.

Bug off

When everything is set for visual beauty, insects can cause the nuisance. Get rid of these unwanted pests the natural way. Use vinegar, boiling water, salt, bleach, bar or liquid soap in your flower vases.
Well, creating a perfect garden with some of these tips doesn’t seem to be hard, right? So, why wait? Go ahead and roll up your sleeves - play with the plants! Happy gardening!!

October 22, 2013

Building Collapses at Dockyard Road – 1 Dead, 2 Critical

A five-storey building on the eastern side of Dockyard Road railway station collapsed at around 6 AM on Friday morning. According to reports, around 20 to 25 people are allegedly trapped in the building debris, while 1 dead body has been recovered from the site. 7 injured people have already been shifted to JJ Hospital. Unconfirmed reports also suggest that 2 out of the 7 injured are quite critical. The building apparently housed 28 rooms.
Building Collapses at Dockyard Road
Presently, 12 fire engines and two groups of the National Disaster Response Force are stationed on the spot. However, it is still unclear if this BMC Colony had received any warnings regarding a risk of structural instability.

According to the latest updates, a local politician and corporator of the area told a news channel that the building was around fifty to sixty years old and that it had a few structural issues. This could be the most probable reason for its collapse. He also added that he had alerted relevant higher authorities about this issue. The building had undergone repairs around 16 years ago.

Building Collapses at Dockyard Road

On the other hand, Sunil Prabhu, Mayor of Mumbai, said that rescue operations are currently ongoing and they are the highest priority now. He also added that definite action will be taken against the guilty.

More updates are awaited.