Tuesday 13 May 2014

Stay Cool This Summer But Without Increasing Your Electricity Bills

One of the biggest consumers of energy in India is its  hold sector and there has phenomenal expansion in energy consumption of the Indian household sector during the last decade. According to BEE India (Bureau of Energy Efficiency) 45% of energy consumed is to attain indoor thermal comfort in Indian residential buildings. But this is little difficult to digest since climate for a place has always been a constant factor, so when there was no need of air-conditioning for building in older times, why is there an unexpected rise in last decade?
house
Probably the reason is that though the climate has been a constant factor, the development of the urban forms differs widely because of the technological, cultural and socio-economic changes. The major cause behind this is the availability of electricity because of which the thermal comfort can be reached without considering the building structure and its envelope. The increasing use of cement, glass, and steel for building construction have resulted in buildings whose mass is almost 60% of the mass of traditional construction. The overheating of the indoor spaces is majorly due to the reduced building mass and extensive use of glazing on the front facade of the contemporary buildings.
Here are some changes that you can make in your existing house to improve its whole mass and avoid overheating. This will make your home energy efficient and if incorporated wisely will bring down your summer electricity bill by 40%-50%:
Treat the skin of your home: Wall, roof and fenestration forms the skin of the building and interacts with the climate and temperature changes 24/7. They are the most vulnerable elements and are a major cause of overheating of a building during hot hours of the day.
  • Insulate your walls and roof: 30% of the heat enters through walls and roof in a room. Heat naturally moves from a hotter to a colder area and wall insulation provides resistance in the flow of heat. The r-value determines the effectiveness of the insulation, higher the r-value higher the resistance. There are many insulation options for the existing walls, like spray foam insulation, weather board insulation, polystyrene sheet etc. Thermocol sheets are the most inexpensive and easily available insulation sheets for the roof and walls.
  • Treat your windows: First of all it is important to make your windows air tight using weather-stripping caulks sealant. If your window is facing south or west do apply low e film on the glass pan of the window. The low e film reflects back sun heat and reduces the penetration up to 60%. Apply awnings if the overhangs are not providing sufficient shade to the window and consider installing white blinds or tightly woven sheets outside the window to stop sun entering the room.
Cross Ventilation: In the era of air-conditioning we have forgot the importance of natural ventilation. No newly constructed house or modern day buildings have ventilators these days despite the fact that hot air rises up, and a ventilator or a roof vent is required to let that air move out. This will create low pressure and facilitate the circulation of air inside the room. Consider having a ventilator or a roof vent to facilitate the movement of air in the room.
Keep the windows closed during day time and open them in the evening after sun set, this will help in reducing the heat gain due to warm air outside during day time.
Internal heat: Heat produced due to electrical appliances like press iron, television, light bulbs etc. in the room is also a cause of overheating. If you are using incandescent lights , switch to fluorescent light bulbs as they produces 80% less heat and consumes 75% less energy. Do consider the star rating of the electrical appliances before purchasing them. Higher star rated appliances consumes 10-50% less electricity and produces less heat.
Indoor and outdoor plants: House plants do the conditioning of the indoor air by reducing airborne bacteria, fungi and replacing the carbon dioxide with oxygen, adding moisture to the air. It is recommended to have at least two house plants per 100 sq feet to detoxify the air. Planting evergreen trees in the front of the windows block harmful sun rays and also naturally filter the air entering the house.

Friday 9 May 2014

NRI Real Estate Investment Opts A New Route

Indian real estate sector is bracing itself for a brighter year ahead as demand in reality sector recovers slowly. When the year 2013 was a forgettable year for the Indian real estate sector as a whole due to the rising inflation and high borrowing costs, the Non Resident Indians (NRIs) took the center-stage taking advantage of the devaluation of the Indian Rupee as compared to the US Dollar. This market condition has made sure that Non Resident Indians (NRIs) are now driving the market sentiments and builders are serving them keeping all their needs in mind.

Let us take a look at how the year is likely to pan out for non-resident Indian investments in the reality sector.
More concentration for Non Resident Indians (NRIs):
To balance the sluggishness in local markets, real estate developers are now concentrating more on projects for the Non Resident Indian (NRI) segment exclusively. This includes more concentration on luxury amenities and green living, aiming at Non Resident Indians (NRIs) who wish to maintain the same international standard of living.
Non Resident Indians (NRIs) bypassing lucrative traps:
One positive development in recent times has been the awareness amongst non residential Indians helping them avoid the booby trap for Non Resident Indian (NRI) centric projects. A lot of builders and reality developers have been guilty of marketing their projects as custom built for the Non Resident Indians (NRIs) in the past. Non Resident Indians (NRIs) have made a lot of sentiment driven investments in such projects only to rue the long delays. So much so that some investments even turned potentially deprecating for the investing Non Resident Indians (NRIs). The positive real estate trend for Non Resident Indians (NRIs) is the increased awareness about the manipulative marketing strategies adopted by reality developers in the past.
Tier II and Tier III cities attracting more investment:
Moving over the old cliché that most Non Resident Indians (NRIs) had, thinking foreign-earned savings would make it simple to find a luxurious home in India when they return, Non Resident Indians (NRIs) are now investing early. Most Non Resident Indians (NRIs) have moved on from investing in metropolitan cities to smaller tier II and tier III cities. Needless to say the rising demand in smaller towns has made real estate developers focus their energies on luxurious home segment in smaller towns. Non Resident Indians (NRIs) are no longer investing in properties as a back-up base when they return but also investing in real estate segment as an investment opportunity. The smaller towns and cities offer immense potential and opportunities for such investments.
Clarity of Regulations:
Although Non Resident Indians (NRIs) have a natural affinity towards their homeland, potential lack of clarity on regulations and legal issues usually act as a deterrent from bringing in higher investments. The Reserve Bank of India (RBI) on its part has streamlined various rules and regulations for Non Resident Indians (NRIs) seeking to invest in the Indian real estate sector. Non Resident Indians (NRIs) have no restrictions on the number of commercial or residential properties they can own in India with only a limit on repatriation of more than two unit sale proceeds. Mortgage of residential property no longer requires any pre-approval from Reserve Bank of India (RBI) while renting is made easy with rents allowed to be credited to Non Resident External (NRE) accounts or remitted overseas
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Tuesday 6 May 2014

Checklist Of Documents While Buying Property

FAQs before purchase of residential/commercial property :

What documents are required while buying commercial or residential property?
When buying commercial or residential property you would need to check for the following documents:
  • Market Trends about prevalent rates of property in the vicinity and last known transactions.
  • Identify the property you wish to purchase
  • Formulate commercial terms.
  • Distinguish between terms and conditions of the contract which are negotiable and those which are fixed e.g. price, payment schedule, time of completion etc.
  • List your requirements with a reputed broker.
  • Ask for photocopies of the all deeds of title related to the property to be purchased. Examine the deeds to establish the ownership of the property by seller, preferably through an advocate. Ascertain the survey number, village and registration district of the property as these details are required for registration of the sale. Previous encumbrances and loans, if any, on the property must be cleared before completion of purchase of the property. The title of the Vendor to the property must be clear and marketable.
  • Finalise commercial terms of purchase of the property. Ascertain transfer fees, stamp duty and registration charges to be paid on purchase of the property.
  • Ascertain outgoings to be paid for the property i.e. property tax, water and electricity charges, society charges, maintenance charges.
  • Request Vendor to obtain, if applicable, consent, permission, sanction, no objection certificate of various authorities such as the (a) society (b) the income tax authority (c) Municipal Corporation (d) the competent authority under the Urban Land Ceiling and Regulation Act (e) any other authority.
  • Will you require a loan for making payment of the consideration amount? Ask for a pre-approval letter from the lending institution.
  • Permanent Account Number of Vendor and Purchaser under Income Tax laws Payment of stamp duty on the formal agreement or document for transfer of the property, signing by both the Vendor and Purchaser and registration
  • After payment of the entire sale price, take over legal possession of the property along with documents of title in original from the Vendor of the property
  • Change name of the holder of the property to the purchaser in the records of the society, electricity company, municipal corporation, Index II etc.
    The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30 of Bombay Stamp Act, 1958 states the liability for payment of stamp duty

    Which documents are to be verified before purchase of a Flat? 
    Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You have to use the services of a competent advocate. It is a professional job to be done with professional assistance.

    What are all the important documents one should check before buying any property?
    If you want to purchase a property, you have to look at the approved layout plan, approved building plan, ownership documents, carryout search, etc. Contact an advocate before you purchase a property so that he can advise you.
    Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You have to use the services of a competent advocate. It is a professional job to be done with professional assistance.

    Can an Advocate get inspection of all title documents for the property?
    The lawyer can be allowed to take inspection of all original documents pertaining to the property.

    How to verify the authenticity of the various documents submitted by the seller of the house, particularly with regard to the possibility that the house has not been sold earlier to a third party ? 
    Regarding authenticity of documents, again, you have to take the help of an advocate to verify.
    Are there any formalities to be completed or forms to be filled on execution of the agreement or document of transfer?
    Yes. The formalities and forms may vary from State to State depending on where the property is situated.
  • Every State has its set forms under the Registration Rules that are required to be filled and filed along with and at the time of Registration of Sale Deed/Transfer Deed.
  • Under the provisions of the Income Tax Act and Rules for a transaction of sale, it is now compulsory for the Purchaser and Seller to give their Permanent Account Number and in the event of either the Seller and/ or the Purchaser would be required to fill Form 60 of the Income-Tax Rules.
  • In case of either the Purchaser or the Seller being a Non-Resident Indian, not assessed to tax in India, such a Party would be required to file Form 60 of the Income-Tax Rules.

    Which documents must be compulsory registered?
    The following documents are required to be registered compulsorily under the Indian Registration Act, 1908:
    (a) Every time the immovable property is sold/purchased, the agreement needs to be registered.
    (b)Instrument of gift of immovable property;
    (c)Other non-testamentary instruments which purport or operate to create, declare, assign, limit or extinguish, whether in future or in present, any right, title or interest, whether vested or contingent, of the value of one hundred rupees and upwards to or in immovable property.
    (d)Non-testamentary instruments which acknowledge the receipt or payment of any consideration on account of creation, declaration, assignment, limitation or extinction of any such right, title or interest;
    (e)Lease of immovable property from year to year or for any term exceeding one year or reserving a yearly rent. But the State Government may publish an order in official gazette exempting any district or a part of a district or a lease that does not exceed the term of five years and the annual rent of which does not exceed Rs. 50/- .
    (f)Non-testamentary instruments transferring or assigning any decree or order of a court or any award when such decree or order or award purports or operates to create, declare assign, limit or extinguish, whether in future or in present, any right, title or interest, whether vested or contingent, of the value of one hundred rupees and upwards to or in immovable property.
    (g)Authorities to adopt a son that is not conferred by a will.


    Which are the instruments that attract the payment of Stamp Duty?
    The instruments like Agreement to Sell, Conveyance Deed, Exchange of property, Gift Deed, Partition Deed, Power of Attorney, settlement and Deed and Transfer of lease attract Stamp Duty on market value of the property.

    What is meant by Carpet Area, Built-Up Area & Super Built-Up Area?
  • Carpet Area is the area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls. It is the actual used area of an apartment/office unit/showroom etc.
  • Built up Area is the carpet area plus the thickness of outer walls and the balcony.
  • Super Built Up Area is the built up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc. The plinth area along with a share of all common areas proportionately divided amongst all unit owners makes up the Super Built-up area. Sometimes it may also include the common areas such, swimming pool, garden, clubhouse, etc. This term is therefore only applicable in the case of multi-dwelling units.

  • How can knowing the Carpet Area, Built-Up Area & Super Built-Up Area of a flat help me in purchasing a flat? 
    This break up is extremely essential as builders can place anywhere from 65% to 85% per cent of the super built area as carpet area. That means, if the price is quoted as 1,000 sq ft super built up area, the carpet area could be anywhere from just 650 sq ft to 850 sq ft. If this break up is not mentioned in the agreement, demand that the vendor/ builder mention it in the sale deed.

    What exactly do we mean by a Free Hold flat? What are the advantages and disadvantages, if any? 
    A freehold property (plot or a flat) is one where there is a whole and sole owner(s), ownership is full and unconditional (within the provisions of the laws of the land) and there is no lessor / lessee involved.

    What Is Leasehold Property?
    Leasehold Property is property leased to a lessee for a stipulated period. The Lessee pays lease premium and annual lease amount as fixed and mutually agreed by the Lessor and lessee. The land ownership rights remain with the Lessor and a prior sale-permission is normally required if you plan to transfer the property.


    General FAQs after purchase of residential/commercial property :

    What constitutes conclusion of sale of a property?
    An agreement of sale, coupled with actual possession of the property would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of handing over possession.

    What is a Sale Deed?
    Sale Deed also known as conveyance deed, is a document by which the seller transfers his right to the purchaser, who, in turn, acquires an absolute ownership of the property. This document is executed subsequent to the execution of the sale agreement and after compliance of various terms and conditions detailed in the sale agreement.

    What is meant by valuation of property?
    The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided

    Who is the appropriate authority for knowing the market value of the property?
    The Sub-Registrar of the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property

    What is Stamp Duty and who is liable to pay the Stamp Duty, the purchaser or the Developer?
    Stamp Duty is a tax, similar to sales tax and income tax collected by the government, and must be paid in full and on time. A stamp duty paid instrument/document is considered a proper and legal instrument/document. The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty.

    What is meant by the market value of the property and is Stamp Duty payable on the market value of the property or on consideration as stated in the agreement? 
    Market value of the property as ascertained by the stamp duty authorities on the basis of a ''Ready Reckoner'' which gives the per sq. mtr. value of each village, zone and sub-zone . The ready reckoner is normally published on 1st January of every year. The Stamp Duty is payable on the agreement value of the property or the market value which ever is higher
    Usually different rates for stamp duty are applicable for residential and non-residential property. In Maharashtra, the rate of stamp duty is 5% for both residential and commercial property. However, for residential property there is a slab wise concession.

    How much is the Registration Fees on sale of immovable property?
    The registration fee in case of sale of immovable property is 1% of the market value or Rs 30,000, whichever is lower. There could be some additional charges for scanning of documents were the office of the Sub Registrar has been computerized.

    How often does the state government issue a ready reckoner indicating market value of properties?
    A ready reckoner is published on the 1st day of January every year.

    What are the pre-requisites for a document for sale of a flat or shop or office to be registered in Maharashtra? 
    The following are the pre-requisites for registration of a document for sale in Maharashtra:-
  • Duly completed, stamped and signed instrument printed on single side only.
  • Receipts for payment of Stamp Duty and Registration Fees.
  • Property Register Card
  • Commencement Certificate issued by the Municipal Corporation for premises in a building under construction and Occupation Certificate for a completed building.
  • Property Tax Bill in case of depreciation in market value for old buildings

  • Do I have to go personally for the registration?
    It is advisable to go personally but in case it is not possible, a power of attorney can be issued to some other person. This Power of Attorney should mention all the relevant clauses and preferably be registered before the Sub Registrar.

    Will someone escort us for the registration? 
    Yes, the POA holder of the developer is present at the member escorts our customers for registration.

    When and where should a document be registered?
    Every document which is required to be registered under the Registration Act, except a Will, should be presented at the office of the Sub Registrar of Assurances for the registration within the prescribed time of four months from the date of its execution. A document is registered with a sub-registrar appointed by the State Government, under the Indian Registration Act, 1908.

    Can a document be registered after a lapse of four months? 
    Yes. A Deed of Confirmation with the original document attached is signed and registered.

    What are consequences of non-registration of a document?
    An instrument, which is not registered, is inadmissible as evidence.

    Is Stamp Duty payable when a flat is from a relative to other relative by way of a gift?
    Yes. Stamp duty has to be paid on the gift but the rate of duty is lower. In Maharashtra the sale of a flat attract levy of duty of 5% and a gift attracts levy of 2%.

    What are the consequences of delay or non-payment of Stamp Duty on an instrument?
    Delay in payment of stamp duty attracts penalty at the rate of 2% per month on the amount of the stamp duty that has to be paid, up to a maximum of twice the amount of the stamp duty payable. An instrument, which is not properly stamped, is inadmissible as evidence.

    What is adjudication?
    In case you wish to ascertain the correct stamp duty payable on an instrument, an application can be made for to the Collector of Stamps.

    What constitutes completion of the sale?
    The transfer of a flat is concluded when you have an sale deed/ agreement for sale coupled with actual possession. Generally, in all cases the entire amount is paid simultaneously with the handing over of physical possession and signing of the transfer documents.

    In whose name are the stamps required to be purchased? 
    The stamps are required to be purchased in the name of any one of the executors to the Instrument.

    What is meant by the market value of the property and is Stamp Duty payable on the market value of the property or on consideration as stated in the agreement? 
    Market value means the price at which a property could be bought in the open market on the date of execution of such instrument. The Stamp Duty is payable on the agreement value of the property or the market value which ever is higher.

    Is a POA revocable?
    Yes, a POA can be either revocable or irrevocable, depending on what sort of a POA one has made.

    Can a Power of Attorney be issued to someone else to register the document?
    Yes, the same is required to be registered in the office of the Sub Registrar in the city you are staying in.

    Can a Power of attorney be issued to someone else to register the document in case of being out of country?
    Yes, the Power of Attorney Draft can be signed and attested by the Indian Consulate/ Indian Embassy/or local notary. Once the Power of Attorney is received in India, the same has to be submitted to the Collector of Stamps for adjudication. After the same is adjudicated the POA holder can submit the same at the time of registration of the document.

    Types of Power of Attorneys?
    1. Special Power of Attorney 2. General Power of Attorney. Both can be revocable or irrevocable and should confer the authority as desired by the person issuing the POA.

    Can premises already encumbered to a bank be leased out to a Company with a high deposit and in case of a default who holds the first lien? And will the Company/Occupant be evicted?
    Yes premises already encumbered to a bank can be leased out to a Company with a high deposit. However you may require the No-Objection of the bank. If the deposit monies are with you and in case if you default on payment to the bank, obviously you will continue to hold the deposit money. The Co./occupant can be evicted only if there is a provision to that effect in the lease Agreement.

    Is registration of a Leave and License mandatory and what are the consequences if the same is not registered? 
    As per Section 55 of the Maharashtra Rent Control Act, 1999 registration of Leave and License Agreement is compulsory and it is the responsibility of the landlord to ensure registration. If the same is not registered, the landlord would be prosecuted and on conviction he's subject to up to three months imprisonment or be subject to fine not exceeding Rs.5000/- or with both. Further in the absence of a Registered Agreement, the contention of the tenant, about the terms and conditions on which the premises have been given to him by the landlord shall prevail unless otherwise proved.

    Is the leave and license agreement generally signed in multiples of 11 months or 12 months? Is there any stipulation of time?
    Formerly leave and license agreements used to be signed in multiples of 11 months or 12 months. After The Maharashtra Rent Control Act, 1999 came into force from 1.3.2000 there is no stipulation as to whether leave and license agreement should be in multiples of 11 or 12 months, and there is no stipulation as to total time period. However, Leave and license agreement generally does not exceed three years.

    Is registration of a Leave and License mandatory and what are the consequences if the same is not registered? 
    As per Section 55 of the Maharashtra Rent Control Act,1999 registration of Leave and License Agreement is compulsory and it is the responsibility of the landlord to ensure registration. If the same is not registered, the landlord would be prosecuted and on conviction he's subject to up to three months imprisonment or be subject to fine not exceeding Rs.5000/- or with both. Further in the absence of a Registered Agreement, the contention of the tenant, about the terms and conditions on which the premises have been given to him by the landlord shall prevail unless otherwise proved.

    What is the difference between lease and leave and license agreement?
    Lease is defined under Section 105 of The Transfer of Property Act,1882 and a lease of immoveable property is a transfer of a right to enjoy such property for a certain time or in perpetuity on consideration to be rendered periodically or on specified occasions, while a license is defined in Section 52 of the Indian Easement Act,1882 and it does not create any interest in the premises in favour of the licensee excepting a mere right to use and occupy the premises for a limited duration. Both documents have now to be registered. A lease deed is required to be stamped and registered. However the stamp duty payable on lease is more than on Leave and License for a period up to three years. For a period exceeding three years the stamp duty is same for both agreements. The implications of entering into a lease agreement would be: i) That stamp duty would have to be paid ii) That the document would have to be registered iii) That Municipal taxes may go up iv) Of course, Income-tax would have to be paid on your income; and v) The question of Wealth-tax would have to be considered. One property is exempt from Wealth-tax. However, if you have any other property, this implication would have to be considered.

    Can possession be handed over to do a Pooja ?
    While the possession cannot be handed over until completion of the formalities, temporary arrangement could be made to have the apartment kept open for a few hours for the purposes of performing the pooja.

    From what date is the maintenance amount due?
    The Maintenance amounts are due from the date the apartment is ready for possession

    From what date is the Property tax due?
    Property taxes area due from the date the unit is occupied or the date of completion certificate whichever is earlier.

    When there are apartments of different sizes in a complex, how is the maintenance charge calculated?
    Legally, the actual area owned by the individual is the basis for calculation of maintenance charge.

    What is the purpose of collecting amounts towards Sinking Fund in Co-operative Housing Society? What should be the contribution from members towards Sinking Fund? When can the amount collected for Sinking Fund be spent by the society? 
    The purpose of collecting Sinking Fund is to accumulate and keep sufficient funds with the society so that the property of the Society i.e. building can be reconstructed in future. The contribution to Sinking Fund is a statutory obligation. Sinking Fund has to be contributed as decided by the General Body of the Society. It should be at least @1/4 per cent per annum on the cost of the each flat excluding the cost of the Land. On the resolution passed at the meeting of the General Body of the Society and with the prior permission of the Registering Authority, the Sinking Fund may be used by the Society for reconstruction of its building/s or for carrying out such structural additions or alterations to the building/s as in the opinion of the Society's Architect is required for carrying out such heavy repairs as may be certified by the Architect. However permission is not usually granted by the Registrar to withdraw amounts from the sinking fund.

    What are non-occupancy charges? 
    Non occupancy charges are levied by the society when the flat owner himself does not reside in the flat but rents it out to a third party.

    Tuesday 22 April 2014

    Pune Property Prices On The Growth Ladder

    Pune: Property rates rise by 30% in many localities

    In terms of return on investment, Pune residential real estate market has shown tremendous growth. According to recent data, almost all localities have marked an appreciation in the property values in the last two years.
    The data shows that from Jan-Mar 2013 to Jan-Mar 2014, localities such as Sopan Baug, Pashan, Aundh, Kothrud, Wanwadi, Wagholi, Bavdhan, Kharadi,Yerwada, Sinhgad Road,Wakad, Pimple Saudagar, Balewadi, Hadapsar, Baner Road, Kondhwa are the few localities that have seen the appreciation of over 30 per cent in multi-storey apartments.
    “The residential property market in Pune has maintained its momentum even in a challenging economic environment and managed to outshine several key markets in the last 2 years,”
    Experts feel that due to resurgence in employment-driven market sentiments and the coming of several right-priced residential projects, Pune proved to be a notable exception. “The city showed a very healthy demand for mid-priced residential properties throughout 2013 and on into the first quarter of 2014,” 
    Moreover, the overall demand for the residential units has also increased in Pune. “Today, the annual demand for homes in Pune is close to 46000 units, where it was less than 20000 units per annum just 15-20 years ago. While Mumbai is staggering under the weight of unsold units all across the city, supply and absorption of homes in Pune continues to make both property development and property investment eminently viable,” informs  Ammul Goel , MD , Pushpganga Ventures
    So where is the demand coming from? Mr.Goel explains that the spread of organised retail, constantly changing city dynamics and demographics coupled with the healthy rate of growth and opportunities generated by the IT/ITeS, manufacturing and automobile sectors have ensured a steady stream of demand in Pune.
    Future of realty
    Pune has been consistent in its real estate growth by showing year on year growth in the property values. “Last year we predicted an increase of 13 per cent – 17 per cent in the average market price and the year ended at 14.13 per cent.  This year our prediction range is widened to 13 per cent – 18 per cent,” 
    However, when compared to other metro cities, such as Delhi and Mumbai, Pune’s property rates remain relatively rational. Owning a home in this city is a dream that can be translated into reality

    Saturday 19 April 2014

    Vastu Tips For West Facing Home

    The Vaastu Ashtray has been a trustworthy source of knowledge for the people in India to design perfect houses that bring them happiness throughout their life. Vaastu being a very ancient concept is being practised widely in our society. When one plans to construct a house, the first and foremost thing strikes to his brain is about the accuracy of the Vaastu of the house. Even builders pay a special attention to Vaastu while designing huge buildings and apartments. When people start constructing a house or pay a visit to a flat in buying purpose, the first thing peep into their minds is the position of the house.
    A number of questions start bothering them. The primary concern being the position of the entrance door, people try getting the Vaastu of the house correct so that they can spend the rest of their lives happily. However, Vaastu Shastra provides us with a lot of guidelines for the betterment of our fate as far as buying a house is considered. It is not a matter of concern if you have bought or constructed a house which is west facing. Vaastu Shastra has remedies for every problem of a house.
    Let us discuss some of the remedies that can be practised if your house is west facing.
    You should build your prayer room in the north-east corner of your house to avoid negative energy entering your house. The idols should be kept in such a position that while praying, your face must face east. You must design the prayer room with at least one window to keep the room lit always.
    Your master bedroom should be in the South-west corner of the house as it is described as the best location for the bedroom in your house. If you have kids, you must design their bedrooms in the west direction of your house. Guest rooms should be constructed in the North-west of the house.
    According to Vaastu, the kitchen must e in the South-east for a west facing house. It will bring prosperity to the owner of the house. The cooking stoves in the kitchen must be placed in such a way that the person must face towards East while cooking.
    Your water tanks must be in the eastern or northern part of the building. In a west facing house, you need to keep less space at the front side of the house. However, you can have a garden in the north-east or north-west side of the building. If you are leaving space in front of the building, you must ensure that the space is left in the eastern or northern side of the building.
    According to Vaastu Shastra, the height of the front boundary wall must be higher than the height of the back boundary wall for a west facing house.
    You can bring happiness, wealth and prosperity to yourself and your family by following the guidelines provided in the Vaastu Shastra without worrying about the construction of the house.

    Wednesday 16 April 2014

    Vote For Your Self , Vote For Your Future , Please Vote

    Why Should We Vote

    Voting in India is a Constitutional right if one is a citizen over 18 years of age. However, that also makes it optional. It has been a tendency among voters, especially in the urban areas, to treat the voting day as a day of rest. While skipping the vote may not seem to cause any harm, the long-term consequences are disastrous. 

    Here's why every citizen of India must cast his or her vote:
    • Agent of change: Voting is the agent of change. If the people of India think that the ruling government is not performing its duties satisfactorily, they can show it the door by voting against it. Refraining from doing so can result in the same party, or a worse one, being elected for the next five years.
    • Every vote counts: In a country so populous, a voter might feel that a single vote does not make any difference. However, the balance tilts when this becomes a national attitude and lakhs—perhaps crores—of votes are not cast. By casting their vote, citizens may not necessarily be able to get the best candidate elected—politics being what it is—but by avoiding casting their vote they improve the chances of the unsuitable ones winning the polls. At the end, it is only the voter who has to suffer through poor governance.
    • Get heard: Voting offers every citizen a medium of expression. In a country as vast and diverse as ours, different regions have different concerns and priorities. The process of voting allows every citizen to have a say in what should constitute the matters of importance by voting for the candidate he or she deems fit for the purpose. While it is true that the outcome of elections is seldom predictable, by not casting one's vote, that citizen is giving up on the chance of getting heard.
    • Voting as a responsibility: Voting is as much a responsibility as it is a right. The whole edifice of Indian democracy is built on the foundation of voting. If citizens are not careful about casting their vote—or worse, skip their vote altogether—it will jeopardize the existence of our democratic Republic.
    • Voting as an honor: Finally, voting is an honor conferred on the citizens by the founding fathers. By exercising their right to vote, citizens demonstrate their respect for the history of the country.
    It can't be denied that the recent democratic experience in India has not been encouraging. For the past several years, India has been struggling with rampant corruption, unsure economy, and unclear foreign policy. Election after election has seen ineffective governments come to power that have done more harm than good. However, not casting one's vote will only worsen the condition. It is our duty as responsible citizens of India to make informed decisions and choose the best candidate from those presented. Moreover, with reforms like Right to Reject gaining wider support, it wouldn't be long before the system of elections is improved.

    Sunday 13 April 2014

    Elections & NRI Real Estate Investment

    With the bugle of the general elections blown and the formation of the new government a little less than two months away, the real estate sector is bracing itself for positive sentiments in the coming future. The real estate sector witnessed a sluggish 2013 with a decline in absorption for both domestic and Non Resident Indian (NRI) buyers. The new government is likely to bring with it new monetary and sector oriented policies that can inject a fresh lease of life to boost transactions and lift the buyer sentiment as a whole.
    Let us take a look at how the general elections can impact the real estate sector in the coming months with a special emphasis on the Non Resident Indian (NRI) sector.
    Real Estate Sector and Political Uncertainty:
    With general elections a just a few days away, we prefer to have a wait and watch before making any real estate related decisions” says Mr. Aravind Nair, a Bancassurance professional based in Doha. While there is a general perception that real estate prices usually consolidate after general elections, the trends can only be correlated in case India gets a stable government which has a real estate sector oriented policy.
    There are three cases which can happen in the Indian general election.
    First and the least likely case is the return of the present government. In case the present United Progressive Alliance (UPA) government gets back to power, the real estate sector will have the advantage of knowing the short and long term policy of the government with respect to real estate. The focus on special economic zones can increase market sentiment in the commercial space.
    The second least likely result is a fractured mandate with neither United Progressive Alliance (UPA) nor National Democratic Alliance (NDA) getting a majority. Most experts feel that such a scenario can lead to stagnation of prices which need a sector specific policy trigger.
    The third case which is most anticipated as per the election opinion polls is the likelihood of formation of a National Democratic Alliance (NDA) government. Industry experts and real estate bigwigs have high hopes from the new alliance as they have already announced their willingness to offer Foreign Direct Investment (FDI) in the real estate sector thereby boosting both supply and demand economics.
    Financial Impact and New Government Policies:
    The impact of positive sentiment or reigniting of Non Resident Indian (NRI) interest in the Indian real estate market is directly related to the financial impact and policies of the new government. “We believe that the new government is likely to bring in a positive developmental role in enhancing various regulatory frameworks” says Mr. Mohammed Mansoor, a Dubai based business man. In such a case, the Foreign Direct Investment (FDI) in the realty sector is likely to improve significantly. “The new government is likely to create investor friendly policies allowing Non Resident Indians (NRIs) to invest in the Indian real estate market as possible retirement avenues” hopes Mr. Sujay Nath, a Singapore based IT professional. The talk of development of 100 new cities across the length and breadth of India also offer tremendous upside for real estate developers as well as Non Resident Indian (NRI) buyers.
    Dollar vs. Rupee Sentiment:
    Currency fluctuation has been one of the main reasons for the lack of Non Resident Indian (NRI) investment in the real estate sector in the past. There have been reports that the Indian currency could soar if the popular National Democratic Alliance (NDA) government replaces the current government after the election. The robust Rupee is unlikely to dent Non Resident Indian (NRI) interest in the Indian market as the government is likely to compensate it by streamlining investment routes by offering transparent rules with a stern real estate sector watchdog.
    A recent survey by Standard Life, a long term savings and investments company head-quartered in Edinburgh has revealed that almost two-thirds of UAE based Non Resident Indians (NRIs) feel that new government is likely to create better economic and investor friendly environment to consider retirement planning in India. The Reserve Bank of India (RBI) will also play a key role in the post-election scenario, clear policies are certainly going to help attract Non Resident Indians (NRIs) consider India as an investment opportunity in the real estate market.