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 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.

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.