The fall of rupee is attracting more NRIs to Indian realty market

The sharp dip of the rupees’ against the US dollar has increased the temptations of non-resident Indians (NRI) to buy property. Realtors are expecting an increase of 35% in business inquiries

from the expatriates this year, reveals the Associated Chamber of Commerce and Industry of India (Assocham) recent findings.

Releasing the Assocham paper on 'Falling rupee sparks property boom from NRIs', D S Rawat, secretary general Assocham said, "With the rupee riding low against the dollar, Indian residents are looking to accelerate investment plans back home". The rupee has fallen by about 34% against the US dollar since August 2011 and crossed 65 against the dollar.

According to a survey conducted by Assocham has upon nearly 1250 real estate developers in Delhi-NCR, Dera Basi, Mohali near Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune,Dehradun, Chennai etc. favorable exchange rates have facilitated the interest for buying property among NRIs.

Most of the real estate developer are saying that  the NRI traffic is primarily coming from the UAE/Gulf region, US, Singapore, Australia, UK, Canada, South-Africa etc. and the demand is more for high end properties and commercial buildings.

The Ancient Art of Feng Shui

The ancient art of Feng-shui, stems from a Chinese philosophical system that is believed to create harmony between human existence and the surrounding environment. It is a complex reserve of ancient art and science that reveals the tricks of balancing the energies of a given space to ensure good health and fortune of those who inhabit the space.

The term Feng-shui, is a Chinese term that literally translates into ‘wind-water’.  Having its roots in the ancient wisdom of Chinese culture, where wind and water are associated with good health and well being, the art of Feng-shui is based on the Taoist perception and understanding of nature and its core elements. It stems from the belief that the land is alive and is filled with ‘energy’ or ‘chi’ which directly affects the well-being of people. The ancient Chinese believed that it is the energy of the land that makes or breaks a kingdom and hence the 5 elements of Feng-shui – wood, fire, earth, metal and water are the key to unlocking the wealth and wisdom in a given space. Each of these elements are represented by various colours, and it is their concentration that is believed to being about positive or negative changes in the people’s lives by either balancing or disrupting the energy symbiosis is a space.

Historically Feng-shui was extensively used and practiced while building structures in ancient China, especially those of spiritual or religious significance, like tombs etc. Though this ancient art was suppressed in mainland China during the cultural revolution of the 1960s, it has gained popularity and has made a niche for itself, having spread to several other global cultures. Today, it is a common practice to keep Feng-shui recommendations in mind while setting up a new residence or office.

Carefully Calculate Your EMI

By definition EMI refers to ‘A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.’

Most of the property purchases made are facilitated through bank loans. These bank loans are then repaid through monthly installments that cater to the principal amount along with a small interest. The EMI that you are required to pay against a loan amount depends on several factors – the loan amount, the loan tenure, and the (reducing) interest rate. Another factor that needs to be taken into account is the down-payment made at the time of purchase.

Ideally the EMI is calculated as per the following formula:

E = P. r. (1+r) ^n/ (1+r) ^n-1)

E= The EMI

P = The Principal loan amount

r = The rate of interest, calculated on a monthly basis. (E.g.: If the annual rate of interest is 10% then ‘r’ will be calculated as 10/12/100 = 0.00833)

n= The loan tenure or duration, considered in number of months

You can use this formula to correctly calculate the EMI for various loan amounts. However, always remember that a low EMI amount is preferable even if the loan tenure is higher, because when calculating EMI amounts it is advisable to keep both deflationary and inflationary scenarios in mind. Low EMI amounts are easy to manage even in low income scenarios.

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Merlin Oxford – The Legacy of South Kolkata

 Located in the heart of one of the most posh areas in South Kolkata, Merlin Oxford is a landmark property built by The Merlin Group. Consisting of high value residential flats the Merlin Oxford property is a premium property of lavish yet thoughtfully designed flats.

With a cover-up area of 1200 sq. feet, the property comprises 3BHK flats with built in modular kitchens, with 2 bathrooms and at least a balcony each, alongwith amenities like 1 servant’s room, a covered garage, a store room, 24 hours power backup and security. Located in a premium area, the property is very well connected and has a hospital, a shopping mall, a school, a metro station, all within a radius of 5kms. Currently the flats are available both on rent and sale, with an approximate rent of Rs 30,000 per month. For sale purposes, they flats are listed at a price of around Rs 75-80 lakhs a unit.

Merlin Oxford is a signature property of the Merlin Group and marks the excellence this brand has achieved in the residential property market in Kolkata As one of the finest properties developed by Merlin, Oxford has attracted a lot of eyeball. The flawless design scheme and the sheer brilliance of the architecture has attained much appreciation from the patrons. Alongside, the high end facilities made available to the residents has made Merlin Oxford one of the fastest selling properties of the Merlin Group.