Architectural Brilliance: Top 10 Buildings in India

Since the earliest of ages, India has been known for its wonderful architectures. Even in the recent days, different buildings in the country reflect world-class architectural skills.

  Designed by James Law Cybertecture International, the 13-storied egg office in Mumbai’s Bandra Kurla Complex is 13 storied and covers 33,000 square meters.

v  The Airtel Office located just outside the Indian capital of Delhi is a feast for the eyes, as it is a perfect amalgamation of shapes and colors.

v  Infosys’s semi-spherical building in Bangalore is one of the most fabulous office buildings present in India. It covers an area of   1.44 million square feet and is the largest training centre in the world.

v  Built by the Unitec Group, the Signature Towers in Gurgaon is one of India’s the most outstanding office complexes.

v  The Lulu International Shopping Mall in Kochi is India’s largest and probably the best designed shopping malls. Covering an area of 17,00,000 square feet, this mall has five floors.

v  How about a building that seems to be curved and tilted towards a side? That is just what the Wipro Office in Noida looks like.

v  The Oracle Office in Bangalore is well known not only for its outstanding architecture, but also because it has one of the best energy-saving structures in the country.

v  With its circular structure, the Mantri Square Mall in Bangalore is one of the most outstanding in the country.

v  The circular structure of the Statesman House in Delhi might not be significantly modern, yet its majestic circular structure makes it one of the most engaging architectural structures in India.

v  Pune’s Gigaspace IT Park has intelligent buildings, which not only conserve energy, but are also great to look at.

With more offices and shopping malls coming up in India every day, the country is                    sure to experience a few more architectural brilliance soon.

Planning to Buy an Apartment? Factors You Need to Consider

Everyone dreams of owning an apartment. But there are a number of things you need to consider before buying one. Here’s the few things you should check out before buying it.

A Legally Allowed Apartment

Is the apartment legal? Is it constructed after taking the permission from the authorities of the city where it is located? Before you are planning to buy the apartment, you should have a clear idea about these things. This will help you avoid any kind of legal hassle in future.

Is the Neighborhood Okay?

Is the neighborhood absolutely okay? You should visit it during different times before you sign the contract for buying the apartment. This will help you form the idea about the ambiance of the apartment before moving into it.

A Property within Your Budget

Is the apartment affordable? Is its cost within your budget? Besides, check out the possible future expenses that you need to make at the apartment. Are these expenses justified when it comes to the comfort offered at the apartment? You need to consider these while buying the apartment.

What are the Amenities Offered?

The amenities offered at the apartments help to make the stay comfortable. What are the amenities offered at your apartment? Will you get free wifi and internet? Does it have quiet areas allocated specially for children to study? Are there enough open spaces to stroll around? You need to keep an eye on all these factors while buying the apartment.

Location Plays a Major Role

The location of the apartment is a major factor to consider when buying it. The perfect location not only facilitates easy transportation to and from the apartment, but also has an important role to play in determining the land value appreciation. Thus, a good location will ensure that you will be able to make a good amount of profit when selling the property.

When you are planning to purchase the property, you also need to count in the policies followed, the ambiance at the apartment and similar other factors as well.

Mirrors for Home Decor

Mirrors are a very versatile decorative item. They can be used as a finish material on walls, and as a cladding on furniture.  Hung over fireplaces and placed in frames, mirrors can transform a room from small to roomy in an instant. Mirrors can be used in feng shui in order to channel energy.

They can make a small room appear larger:

 Mirrors are an inexpensive way to create the illusion of space. In a small apartment place a mirror on the opposite side of a window wall and see the magic. Use mirrors in the kitchen to make it a better place.

Make your hallway interesting: 

If you have a long hallway at your home, play with mirrors and make the hallway interesting. Place mirror wall hangings and wall arts in the hallway

Perk up the bedroom with full length mirrors:

The possibilities are endless as bedroom is all about self expression. Create a studio effect by putting up a full length mirror, put up a simple framed piece or put on the floor as a centrepiece.

Merlin Paradise, the Eden of tomorrow

Merlin Paradise is the most prestigious project in Nagerbazaar. The mesmerizing architecture is encompassed within 75% open space to create an environmental extravaganza.  To bring Paradise to earth is the novel interpretation of Merlin Group. Merlin Paradise brings life closer to nature; full of water bodies and greenery, luxury personified.

Welcome to Merlin, Welcome to Paradise

Air conditioned apartments| B+ Gr + 11 storied, 4 towers| Awe inspiring elevation| Most apartments facing landscaped water bodies and garden| State of the art club facility | Hi- street retail| Adequate car parking in basement and at ground level

Relaxation beckons in Paradise

·         Air- conditioned indoor games room

+Table Tennis + Billiards + Carom

·         State- of- the- art Air conditioned Gym

·         Badminton Court

·         Air conditioned crèche

·         Air conditioned community hall

·         Spa

+Steam +Sauna + Swimming pool

·         Balcony with every apartment

·         Roof with planters, gazebo and usable areas

Specifications

·         Air condition apartments- Split air conditioning in bedrooms and split air conditioning in the drawing room

·         Water Supply 24x7

·         Electrical- Provision for adequate light points, geyser point in bathrooms. Modular switches of reputed brand

·         Flooring- wooden flooring in master bedroom. Designer vitrified tiles  in Living Dining and all other rooms.

Common Home Loan Myths

1. The bank is not concerned with the Employment Status of the borrower

The ability and the willingness to pay back the loan are two cornerstones on the basis of which banks give the borrower the loan. While the income documents and account of assets and liabilities give a fair idea of a borrower’s willingness. The individual’s past track record is checked for the willingness and capabilities for reduced delinquency to pay.

Thus irrespective of the value of the property it is integral for person to submit the required details for the bank to grant the loan. The home loan agreement states that the borrower has to keep the bank informed about his employment status i.e. whether he has changed his job or lost his job or retirement etc.

2. Higher EMI is better than longer Tenure or vice versa

 This question always gives you a tough time. Ideally one should go for a higher EMI, at first it might cause a dent to the borrower’s pocket but it would benefit you in the longer term. This is because most home loan borrowers are in their 30’s when they apply for loans, and if the loan tenure is of about 30 years or more then the borrower will be paying off his loan even after his retirement, this obligation would then be difficult to fulfill when he will have no source of income.

3. Hike in interest rate means inflated EMIs

Do not freak out when you listen to something like this. Most banks, subject to conditions, usually extend the tenure of the loan and keep the EMI amount unchanged. This decision is taken by banks on various factors such as a borrower’s property, income and so on. It completely depends on t a borrower if he/she does not wish to prolong their loan repayment they can inform the bank about their willingness to service a higher EMI.

4. Fixed Rate of interest is better or Floating Rate of Interest

Fixed Rate of Interest: The interest rate charged on the loan remains fixed irrespective of the interest rate trends. The EMI on your loan amount will remain the same for the entire term. Floating Rate of Interest: The interest rate on your loan will vary according to the interest rate prevailing in the market. Whether the either is better or not for you entirely depends on the market scenario. If the interest rates are expected to fall then fixed rate of interest will not be good but at that time floating rate of interest would be favorable, as that would lower your EMI. On the other hand if the interest rates are rising then the fixed rate of interest would be better than the floating rate as the EMI on the latter will increase in this case.

5. Prepayment attracts Penalty

This factor again depends upon the bank. Usually prepayment charges are levied in the initial 2-3 years from the disbursement date of the loan and which declines over time. If you repay the loan out of your own funds, you will not lose much. This does not apply if you opt to refinance your loan from any other bank; most of the financial institutions do waive the prepayment penalty. Mostly institutions allow up to 25% of the loan outstanding to be part prepaid in a financial year, but they can charge anything ranging from 2% to 4% for any amounts paid over the specified limit of 25%.

Your dream home is just a few steps away

Home loans help you realize your dreams of buying the house you have always wanted and also help save tax. A home loan is an essential part of any home buying endeavour. The key to getting your home loan in a smooth way is being familiar with the entire home loan process.

Beginning the home loan process

The process of getting a home loan starts with a formal application for the loan. The application form requires certain basic information about you which includes your personal, residential, income, employment, educational details, and details about the property, estimated costs and current means of financing the property. The requirements often vary bank to bank.

The application form must be supported with valid documents to substantiate the facts. Generally the banks ask to submit the following documents.

• Income proof
• Age proof
• Identity proof
• Address proof
• Employment details
• Proof of educational qualifications
• Details about the property if finalized
• Bank statements

The purpose of the entire exercise is to ascertain the suitability of the applicant for a home loan. The income documents and bank statements provide vital clues to the bank regarding your financial health.

The concept of processing fee

An important thing to note about home loans is the processing fee. Banks charge a processing fee for every home loan application. This fee is non refundable. The processing fee also varies from bank to bank and is generally from 0.25% to 0.50% of the loan amount. This fee is used by the bank to start and maintain the home loan process including completing the various formalities during the entire period.

Although there are a few points that should always be kept in mind

Additional charges to be kept in mind

When you are applying for a home loan, you need to be educated about the various charges that the lenders add to the current scheme. The additional charges fall under the amount sanctioned in your name and not on the amount you take home.

Read the fine print of the agreement

Even if the home loan agreement is a bulky document, read it carefully.

Never Leave a Doubt

Applying for a home loan might seem easy but it comes with its own set of complications. So, never leave a doubt in your head which may lead to complications later on.

Real Estate scenario in 2014

Outlook Time to match demand with relevant supply:  India’s gripping urbanization growth story has been fascinating global investors so far, an underlying truth gradually emerged in 2013 - economic growth, the consumption story and property prices may not rise consistently, and there could be intermittent hurdles or growth risks. The presently cautious market sentiment is likely to continue, as headwinds to growth will prevail till the first half of 2014. However, the second half is likely to witness gradual revival in absorption. Residential real estate capital values will increase in a subdued range of 10-12% year-on-year pan-India for the whole year. Affordability will drive growth in 2014. An emerging economy is never short of opportunities, and it is time that the Indian residential real estate industry realizes where the opportunity lies. To date, the shortage of homes in India stands at around 19 million units, and 95% of this housing shortage is in the economically-weaker section (EWS) and low-income group (LIG) categories. In India, housing for EWS is defined by the Technical Group on Estimation of Housing Shortage as having a carpet area of 21-27 square meters; LIG housing includes units of 28-60 square meter carpet area. By the government's definition, EWS housing falls in the range of INR 4-10 lakh. This means that development of affordable housing will have to penetrate into the deeper suburbs of our cities, where such price points are feasible. The TATA Shubh Griha project (popularly known as Nano homes; completed in 2011) in Boisar near Mumbai was a splendid example of successful identification and auctioning of such opportunities. The project had 1,300 units, which received applications from 3,500 households. A recommendation to the government by the technical group to incentivize such projects by subsidized land, tax rebates, grants per supply of dwellings, etc. could help developers in improving the feasibility of such projects. Redevelopment activity to increase With scarce availability of land in the urban agglomeration, redevelopment will emerge as another growth driver in a scenario the cost-and-time-intensive complexities with regards to land acquisition brought forth by the LARR 2013 amendments. Indian cities present an exceptional opportunity for developers in this respect -- as per the latest available census data on households, only 50% of the residential units are in good condition, while the remaining are either merely livable or in dilapidated condition.

So, the 2013 may have been the year when both the developers as well as the lenders were waiting for policies like the REIT to roll out as well as other cost & benefit analysis. However, the direction in which the market is heading to, added with the new funding sources being cleared by the government, it seems the turnaround of the financial fortunes is just ahead in 2014.

Feng Shui (2)

MIRRORS
MYTH: They are believed to reflect, absorb, cure, and/or redirect all negative energy.
FACT: This is probably the most widely practice “cure” of negative feng shui. Can a mirror symbolically reflect things? Yes. Can mirrors enhance the perception of a small space and dark space? Yes. Can mirrors add a decorative effect to a space? Yes. If we look at this scientifically however, mirrors only reflect light, which is a very small part of the world of physics. Energy is in and around everything and cannot be totally redirected because of a reflective surface.

BALANCE: The symbolism used with reflection is very positive. Mirrors used to enhance an interiors size perception, create a specific ambiance, or added as a decorative feature are also very positive. Mirrors are not “the aspirin of feng shui” as someone once said but should and could be used as a tool to symbolically reflect aspects of life, relationships, prosperity, self-empowerment, etc. Most importantly though it must feel right to you, suit the space, and the décor of the home.

CRYSTALS
MYTH: Crystals cure everything!
FACT: All stones, gems and crystals have healing effects and benefits. For centuries different cultures and civilizations throughout the world have utilized, studied, and prescribed these natural resources as an elixir and healer of physically, emotionally, mentally troubling problems of life.

BALANCE: Understanding each precious property can be used to amazingly shift and transform energy. However, much care should be taken in regards to placement, caring for, and cleansing them. Like all the things they hold energy and need to be recharged and revitalized. Hanging crystals do not cure everything if you don’t understand and believe in the power all gems, stones, and crystals have.

DIRECTION (North, South, East & West)
MYTH: Everything in a home must be arranged according to global direction—north, south, east, and west--- and if it’s not bad things can happen!
FACT: Due to the lack of electricity and technology over 3,000 years ago when feng shui was founded, optimizing direction of placement was crucial. Knowing that a home facing east would have part of the home warmed from the sun at a certain time of the day and the other part cool in the night, was highly beneficial. Most often bedrooms were set in the west because as the sun set it would warm these areas last.
BALANCE: Very logical and understandable, but to try and apply direction, let alone get an accurate compass reading due to the huge amounts of EMF’s (electro-magnetic frequencies) in urban areas is impractical. Within interiors today, and the size and shape of the most rooms, your furniture placement would like quite funny if all you followed were direction placement.

Facts of Feng Shui (1)

Facts of Feng Shui (1)

·         According to Chinese tradition, there are 3 types of luck- which are they?

Heaven, earth, man. Heaven, earth, man are known as TIEN TI REN. If these are balanced they can bring enormous good fortune to you. Heaven luck is beyond our control, it's what was bestowed upon us at birth - where we were born, what colour our eyes are. Earth luck can be influenced by our trying to balance the natural forces of our environment. Feng Shui offers guidelines to help influence one's Earth Luck. Man luck is the luck you make for yourself - you will find it difficult to get a job if you don't look for one!

·         Which plant signifies prosperity and romance?

Peony:  In Feng Shui "enhancers" are used to help the flow of good Chi. One such enhancer are plants, as long as they are healthy! The Peony is excellent for enhancing marriage opportunities. Jade Plants are used to bring in prosperity and abundance. Yellow Chrysanthemum's are symbolic of a life of ease, happiness and joy. Narcissus symbolizes career luck, good fortune.

·         What color is considered to bring good fortune?

Red  colour is used to help with the Yin/Yang balance in homes and offices. Red is Yang energy (positive), it is considered to be very auspicious; the traditional Chinese bride dresses in red. At New Year, gifts of money in red envelopes are distributed by the matriarch of the family, to ensure a good financial year. 

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.

The Man Behind the Show – Sushil Mohta

The Merlin Group is a renowned name in the world of real estate. With the core of the business as housing the group has now expanded its activities to various commercial complexes including malls, office buildings, townships etc. Having set up its roots in the heart of Kolkata, more than three decades ago, Sushil Mohta, the Managing Director of the company has propelled the group forward.

Born in a Marwari family in Kolkata, Mohta idolized his father who was a self-made man. From a very young age, he learnt to dream big, and wanted to surpass his father’s  achievements andmake his family proud. Having completed his education from St. Xaviers in Kolkata at the ripe age of 17 he started helping his father in the family business. Here he gained much experience which equipped him with the business and people management skills he required in the later years when he started with his own real estate business.

Since the family’s business was ball bearings, his foraying into the real estate business seemed unusual at the time, especially since real estate was not a booming market back then. But as is the case with every true visionary he saw the potential of this market and stood by his choice.  In a market condition that was mostly dominated by the unorganized sector, he started and ran his business on corporate principles, which brought a degree of professionalism to this sector. After several years of hard work and many lessons learnt it was around 1990, that he created the Merlin brand, and ever since then there has been no looking back!

Latest in the World of Real Estate - Real Estate in a sluggish economy

In spite of the sluggish economy and the falling value of the rupee, the real estate sector has been surprisingly expanding its scope of operations. This is primarily due to the factor that over the last 10 years or so, the Indian realty sector has consistently channelized the FDI and the NRI investment pools. In the falling economy the Indian government has resorted to various reformative reforms for the stakeholders in the recent past.

Earlier this year, keeping in mind the needs of the residential real estate sector the RBI had reduced the rates for external commercial borrowing. Following the cue, the World bank has also recently sanctioned a fund of $100 million for affordable residential properties, that is to be implemented over the period of the next 5 years. The Indian government is also contemplating to relax the FDI norms aiming to attract large quantities of foreign investment in this falling economic situation, to keep the realty sector afloat.

Currently, with an increase in the demand for residential properties all over the country, coupled with relaxed norms, favorable regulatory policies and imminent avenues of funding the real estate sector has its hands full.  The sector looks to be maturing, consequently indicating growth and opportunities for all its sub sectors. However, the final outcome is still in question, though the major players in the sector are hopeful that the real estate market in India will benefit from the transparency and streamlining of the investments, due to be facilitated by the ratification of the regulatory bill by the Rajya Sabha. 

Latest from the World of Real Estate

The real estate industry in India has been suffering due to the consequences of the economic slowdown over the last few years. In order to boost the flow of funds in this sector, the government of India is considering making some drastic changes with regards to Foreign Direct investment (FDI).

According to the suggestions from the urban development ministry, real estate firms with less than 50% foreign ownership are to be exempted from all restrictions including the minimum area norms. This is to attract foreign capital, even those who do not have specific long term interest. Another motive is to allow the players of this segment to raise funds from foreign institution to support the finances, thus fulfilling a dual role of keeping the inflow of cash for construction without imposing on the already strained domestic financial institutions.

A similar proposal has been suggested for foreign investment in slum redevelopment and urban renewal projects, as well as for foreign investors picking up more than 50% stake major relaxation of policies has been advocated. This includes permission to purchase farmland for the firms funded by FDI, as well as reduction of the minimum land parcel size for plotted development to 5 acres from 10 hectares. Foreign investors will now also be allowed to sell underdeveloped plots, though the Indian companies will need to provide the infrastructure and undertake development before occupancy. These changes in the rules for FDI in real estate are deemed to bring about a positive outlook in the sector and thus keep the real estate a booming sector as ever.

Facilitating Your Dream Home

The exalted reputation of the Merlin group precedes them. For the last three decades the Merlin group have established themselves as one of the most trusted ad visors in the real estate world – not only through the quality property they are known to design and build but also because of the superior customer services they offer.

The Merlin group will help you visualize and eventually create your dream home – but their services go beyond. Most people opt for home loans when purchasing a house - with the Merlin Group association, getting a home loan sanctioned becomes easier. Furthermore the group also guides the clients through the whole procedure. As a real estate developing agency, the group has collaborations with several banking institutions and will help you meticulously plan the details of repaying your loan. They will outline for you all the necessary requirements as well as direct you regarding the loan amounts and the repayment options. The group works together with the lending institutions so as to facilitate the loan thus making the loan sanctioning process a cakewalk. It is in fact, because of superior services like these that takes away most of the headache of the necessary paperwork etc, from the already busy schedule of the clients that they swear by the Merlin Group!

Creating Trusted Relationships

For the last three decades the Merlin Group has dedicated itself to creating value homes for people across the country. Transparency and honesty and two of the key philosophies propagated by the Merlin group which have helped them establish supremacy and trust not only among their peers in the real estate world, but also among their clients.

Mr. Suman Chattopadyay, a journalist with a leading publication in Kolkata describes coming back home to his apartment at Merlin Residency, as an invigorating experience after hard day’s work. A senior pilot, Captain Amit Tandon claims that Merlin Greens turned out exactly like he had seen in the brochure. Moreover a premium club membership within his complex was a bonus. Mr. Chin Tchai Yu in the Merchant Navy, was concerned about ensuring a secure home for his family, since he does not stay in the city for more than 6 months in a year. Merlin Greens came to his rescue! Mrs. Debjani Ghosh cannot stop gushing about her Merlin Riverview apartment with a spectacular view of the Ganges and open ventilated rooms, just what she had wanted in a dream home. Mr. Amiyo Kr. Paul, Joint Manager at the Bank of Baroda, on the other hand, raves about the splendid lifestyle features the complex has to offer. Ask any Merlin flat owner, and they will tell you how Merlin built them homes, as close to their dream homes as it could get!

Invest in the Right Residential Property – Secondary Factors

When buying a property there are many things you need to consider – Location, Floor Location and Family Considerations being some of the key deciding factors. However, there are several secondary factors that you should factor and then make an informed decision.

Basic Facilities Provided: Take into consideration the basic facilities that are provided with the flat. Account for amenities like water and power supply, back-up power arrangements, security, elevator, parking facilities etc.  Consider if there are facilities like public transportation, schools, hospitals, marketplaces nearby. Though flats with all or most of the aforementioned benefits will be a tad bit costlier as an investment, in the long run they will save you a lot of time and money.

Budget: It is one of the most important factors when making a property purchase decisions. Most people resort to a bank loan when purchasing a house. It is crucial to discuss the associated fine print, in elaborate detail as well as the EMI options. When considering EMI options, make sure you factor that into your monthly budget, barring your regular monthly expenses. Also discuss it with your family and ensure you have a contingency plan handy, in case the funds run dry for a particular month.

Invest in the Right Residential Property

A perfect home is one’s dream come true. With the ever-increasing property prices in India, investing in real estate to many is much like investing in gold – you can hardly ever go wrong with it. However, there are a few key factors that you should consider when planning to invest in real estate:

aa)      Location is one of the key determining factors of whether a particular property is a good investment. Always try to invest in property which is an upcoming location, because when acquiring the property you will not only get it at cheaper rates than in developed areas but it is also very likely that in a few years time, the property will be worth twice its present value.

bb)    Floor Location has a great impact on property prices. Flats on the ground floor sell for a much higher value than those on the floors above. This is simply because the availability and the accessibility of amenities are much easier from the ground floor, which in turns creates a higher demand.

cc)      Family Considerations: When investing in property, always think long term. If you already have a family or are planning one, consider if the locality, society, facilities provided by the complex would be in tandem with the needs of your future family.