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.

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 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.

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 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.

The Real Estate Market in India

India’s economy has been fluctuating considerably over the last two years. The country has been battling several economic issues like food inflation, falling currency value, fiscal deficit, etc. which have had a direct impact on the real estate market in India. This is especially relevant for the residential property market since the economic prosperity of the citizens is directly proportional to the demand for homes.

In the first half of 2013, major cities like Delhi, Mumbai and Chennai have seen a sharp decline in the sale of residential properties. Though Bangalore and Pune have done better, because of the IT expansion in these cities, it is so only by marginal standards. One of the key reasons of this is that the prices of properties in the major cities have been rising despite the fall in demand. According to data collated by Global Property Guide, property prices in Delhi have seen the sharpest spike over the last year, by almost 60%, higher than in any of the other cities from the 43 countries surveyed. Property prices in Mumbai have gone through the roof making the city all the more unaffordable. Under these circumstances the only recourse is for thecities to expand their boundaries and the builders and developers to lower their profit margins and price expectations, so as to keep the market green and going.

Luxury Redefined at Reflection!

Reflection, a flagship residential project built by the consortium of the Merlin and Olympia groups, recently achieved new heights of luxury through a strategic alliance with Quintessentially Lifestyle.  A renowned name in the world of luxury, Quintessentially Lifestyle will now provide a Members Only Concierge Club, for the residents of this 900 crore project, located on the East Coast Road, at Thiruvidanthai village in Chennai.

The project is slated to have unique, luxury beach homes, spread over 35 acres encompassing n 8 acre natural lagoon. Its 4 high rise signature towers - Nebula, Seashells, Eldoris and Lorraine of sprawling villas and apartments are designed so as to have an uninterrupted sea view. With properties ranging from Rs 2.5 to 3.5 crores for apartments and Rs 4 to 6 crores for beach villas, Reflection is one of the Merlin Group’s most exclusive residential properties.

  

As a symbol of modern architecture and fine living, Reflection aims to provide for the very best quality of life to its residents. This strategic partnership with Quintessentially Lifestyle will redefine luxury for the Indian markets by adding an edge to this property, through which the residents will have access to assorted privileges from the best hotels, spas, clubs, restaurants and other luxury products across the globe.