Sunny develpoers

• Are Home Loan And Mortgage Loan Different?

  We often use the terms home loan and mortgage loan interchangeably without realising that the two are completely different from each other.

  Here are certain myths busted about the two banking concepts:

  To avail of fund from the market, one is supposed to provide a collateral. That is true of all types of mortgages available. So, home loan is a type of mortgage loan — the loan is provided using the property as a collateral. While you can also use other assets as collateral for borrowing funds, in a mortgage loan your property works as a security. Simple out, in mortgage loans, your property is used as a collateral. Most home loans in India are mortgage loans. Which means the banks has the right to sell your property and make up for losses in case you default on repayment.

  Home loans have a pre-set nature — it is provided for the purchase of a property. Fund acquired through a mortgage loan, on the other hand, can be used for other purposes, too. This is also the reason why you pay higher interest for availing of mortgage loans. Banks in India extend mortgage loans keeping your property as a collateral to provide you funds for personal use.

  In case of a home loan, banks make the payment directly to the seller’s account. This is a way to ensure that the funds are used only for home purchase. While in case of a mortgage loan where borrowers are free to use the funds anywhere they chose, the payment is made directly to the borrower.

  Typically, the interest you pay on a home loan is lesser than a mortgage loan. For instance, till June last year, public lender State Bank of India provided home loans at an interest rate of 9.20 per cent. For loan against property, SBI charged an interest between 10.77 per cent and 11.75 per cent, depending on the amount of the loan.

  There are also, no tax benefits for salaried employees while paying the mortgage loan, unlike in a home loan. For a home loan of up to Rs 28 lakh fall under the purview of the priority sector lending. Mortgage loans, on the other hand, do not come enjoy this tag.

  June 30, 2022

  Uncategorized

• 5 Reasons Why Real Estate Is a Great Investment

  Real estate is a great investment for many reasons. You can enjoy an excellent rate of returns, amazing tax advantages and leverage real estate to build your wealth.

  Here are the top five reasons why real estate is a great investment.

  Real estate provides better returns than the stock market without as much volatility.

  Historically in real estate, your risk of loss is minimized by the length of time you hold on to your property. When the market improves, so does the value of your home, and as a result, you build equity. The risk never changes in the stock market and there are numerous factors beyond your control that can negatively impact your investment. Real estate gives you more control of your investment because your property is a tangible asset that you can leverage to capitalize on numerous revenue streams, while enjoying capital appreciation.

  Real estate has a high tangible asset value.

  There will always be value in your land, and value in your home. Other investments can leave you with little to no tangible asset value such as a stock which can dip to zero, or a new car which decreases in value over time. Home owners insurance will protect your investment in real estate, so be sure to get the best policy available so your asset is protected in the worst-case scenario.

  Real estate values will always increase over time.

  History continues to prove that the longer you hold onto your real estate, the more money you will make. The housing market has always recovered from past bubbles that caused home appreciation to slip, and for those who held on to their investments during those uncertain times, prices have returned to normal, and appreciation is back on track. Now, real estate investors in the top performing markets are enjoying a windfall. In fact, this past year, every state in the nation had a positive appreciation, and some of my clients in the Los Angeles market have made millions of dollars in less than a year from flipping.

  An investment in real estate can also diversify your portfolio.

  If you’ve ever spoken to a financial planner about investing, then you are very aware of the importance of diversification. When you diversify your portfolio, you spread out the risk. Real estate will always serve as a safe tangible asset to mitigate the risk in your portfolio. Many have amassed wealth by solely investing in real estate.

  Last but not least, real estate investing comes with numerous tax benefits.

  You can get tax deductions on mortgage interest, cash flow from investment properties, operating expenses and costs, property taxes, insurance and depreciation (even if the property gains value) and other benefits. The end of the year is a very busy time for real estate because people want to take advantage of the numerous tax benefits before the end of the year!

  An investment in real estate is not only a safe financial investment, it is also an investment that can provide years of fun, happiness and priceless memories that will last a lifetime.

  June 28, 2022

  Uncategorized

• Best Banks For Home Loans For Women In 2022

  Which are the banks from which borrowing would make better sense, as far as women home loan borrowers are concerned? We examine.

  If their improved financial standing puts women in a better position to become property owners all on their own, several government policies also aid them to reach this goal, early on in their careers. This is primarily done, by offering lower stamp duty and home loan interest rates to women buyers and home loan borrowers. Considering that 2022 may be an ideal time to buy a home with the help of housing finance, given the record low interest rates, women borrowers would find it even more affordable to buy their dream home right now.
  
  This raises the question: Which are the banks from where borrowing would make better sense for women home loan applicants? As the interest rates will always be the single-biggest influencer in driving the decision of a woman borrower, we have listed the banks that offer them the most affordable deals in 2022.
  
  While making the list we have also determined the banks’ efficiency in offering loan affordability to women by factoring in the fringe charges, such as processing fees.
  
  Also note that the rates mentioned in this article are with respect to the floating rate of interest linked with the RBI’s repo rate and not the previous marginal cost of funds-based lending rate (MCLR) regime or the base rate or prime lending rate regimes. Only Citi Bank is an exception, which has linked its home loans to the government’s treasury bills.

  Hidden charges in home loans:

  • * Processing fee.
  • * Application fee.
  • * Legal fee.
  • * Conversion fee.
  • * Evaluation fee.
  • * Physical visit fee.
  • * Late payment fee.
  • * Prepayment fee.
  • * Part payment fee.
  • * Cheque bounce fee.
  • * Annual Statement fee.
  • * Document retrieval charges.

  Documents to be provided to get a home loan:

  • * Duly filled home loan application.
  • * 3 passport-sized photographs.
  • * Photocopies of any proof of identity, namely, voter’s ID card, passport, or driving licence.
  • * Photo copies of any residence proof, namely, utility bills, passport, driving licence, etc.
  • * Business address proof for non-salaried individuals.
  • * Bank statement of the past six months.
  • * Signature identification.
  • * Personal assets and financial liabilities statement.
  • * Details of other running loans.

  Factors That Affect Home Loan EMI Outgo :

  • * Credit Score.
  • * Tenure Of The Loan.
  • * Property Value / Loan Amount.
  • * RBI Policy Rates.

  Union Bank of India

  From October 27, 2021, Mumbai-headquartered Union Bank of India is offering the cheapest home loans in India after it cut its interest rates to 6.40%. The move by the public lender put rage an ongoing price war among banks in the country that are trying to woo customers with best interest rates.

  Union Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	6.40%	7.0%
  For self-employed women	6.45%	6.80%

  *Effective from October 27, 2021.

  Longest tenure: 30 years.

  Processing fees: 0.50% of loan amount, subject to a maximum of Rs 15,000, plus GST.

  Bank of Baroda (BoB)

  While the slow processing of the application at this public lender might irk you, it is only for your benefit – and obviously for their own – that banks thoroughly scan all the documents carefully. If low interest rates are a driver, this might be a good option for you. If your loan requirement is low, you could get a home loan worth only Rs 2 lakhs at BoB, something not many banks offer.

  Bank of Baroda home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	7.40%	NA
  For self-employed women	8.10%	NA

  *Effective from June 9, 2022.

  Maximum tenure: 30 years.

  Processing fees: None currently; 0.50% of the loan amount generally, with the minimum amount capped at Rs 8,500 and the maximum at Rs 15,000.

  Kotak Mahindra Bank

  Apart from getting a personal relationship manager to deal with your home loan queries, you would also enjoy a high level of ease of doing business with this private lender.

  Kotak Mahindra Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	7.50%	NA
  For self-employed women	7.55%	NA

  *Effective from June 10, 2022.

  Maximum tenure: 30 years.

  Processing fees: None currently; from 0.25 to 0.50% of the loan amount, in general.

  State Bank of India (SBI)

  Irrespective of the rate at which the public lender offers the general public a home loan at any given time, it offers a lower rate by 5 basis points, to women borrowers. This means that if SBI is currently offering home loans at 7% per annum, a woman borrower will be given this loan at 6.95%. Note that a 100 basis points make up for one percentage point.

  SBI home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	7.55%	8.05%
  For self-employed women	7.55%	9.70%

  *Effective from June 15, 2022.

  Maximum tenure: 30 years.

  Processing fees: 0.40% of the loan amount, subject to a minimum of Rs 10,000 and a maximum of Rs 30,000 with GST. For projects where the bank has a tie-up with the builder, the rate will be 0.40% subject to a maximum of Rs 10,000 plus taxes. However, to cash-in on the festive spirit, the public lender is offering home loans without any processing fee under its Monsoon Dhamaka offer. The waiver of SBI home loan processing fee is valid between August 1 and August 31, 2021.

  ICICI Bank

  Apart from getting a lower rate of interest from this private lender, a female borrower will also enjoy ease of doing business at ICICI Bank.

  ICICI Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	8.60%	NA
  For self-employed women	8.65%	NA

  *Effective from June 8, 2022.

  Maximum tenure: 30 years.

  Processing fees: 0.50% of the home loan amount, starting from Rs 1,100.

  HDFC

  Similar to SBI, HDFC also offers women borrowers a 5-basis-point discount on home loans. However, it does not currently offer any waiver on the processing fee.

  HDFC home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	7.90%	NA
  For self-employed women	7.90%	NA

  *Effective from June 2022.

  Maximum tenure: 30 years.

  Processing fees: Up to 0.50% of the loan amount or Rs 3,000, whichever is higher.

  Punjab National Bank (PNB)

  This is another public lender that has significantly reduced its home loan interest rates for borrowers. If you have already retired, you could still get a loan from PNB, as it offers loans to individuals of up to 70 years of age.

  Punjab National Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	7.40%	NA
  For self-employed women	7.45%	NA

  *Effective from June 9, 2022.

  Maximum tenure: 30 years.

  Processing fees: None at present. Typically, it is 0.35% of the loan amount with the lower and upper limit capped at Rs 2,500 and Rs 15,000, respectively.

  Axis Bank

  If you are looking only for a small sum to make the purchase, eying tax benefits, this is the bank for you, as it offers loans starting at Rs 3 lakhs. Those who already have a good credit history can reap other benefits, as the bank will look favourably at customers with good repayment records and high credit scores and may offer faster approval and disbursal or flexible repayment schedules or lower processing charges. In some cases, the bank may offer a lower interest rate, too.

  Axis Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	6.90%	8.40%
  For self-employed women	7.00%	8.55%

  *Effective from June 9, 2022.

  Maximum tenure: 30 years.

  Processing fees: Up to 1% of the loan amount, subject to a minimum of Rs 10,000. An upfront processing fee of Rs 5,000 plus GST, at the time of application login.

  Citi Bank

  Women looking for big-ticket loans to secure a luxury unit, will find this bank willing to lend to their requirement, with Citi Bank offering up to Rs 10 crores as home loan. Unlike most banks which now offer home loans linked with the RBI’s repo rate, Citi Bank’s home loan is linked with the treasury bill benchmark-linked lending rate (TBLR).

  Citi Bank home loan interest rate

  Rate of interest on home loans	Best rate*	Highest rate**
  For salaried women	6.75%	NA

  Maximum tenure: 25 years.

  June 22, 2022

  Uncategorized

• About 20,000 housing societies in Maharashtra can gain from cooperative bank funding

  News | 14th June 2022

  The housing finance limit of 5% of the total asset is expected to boost self-development of societies in Pune, Mumbai, and Thane, Maharashtra Housing Federation vice-chairman Suhas Patwardhan said.
  
  PUNE: Nearly 20,000 housing societies and apartments planning self-redevelopment in the state will benefit from the RBI’s decision to allow cooperative banks to grant finance for the commercial real estate-residential housing segment.
  
  The housing finance limit of 5% of the total asset is expected to boost self-development of societies in Pune, Mumbai, and Thane, Maharashtra Housing Federation vice-chairman Suhas Patwardhan said.
  
  “Real estate projects involving redevelopment are key areas in the property market, especially in growing cities.As per the RBI notification, all district cooperative banks and state cooperative bank will be able to grant loans to housing societies for self-redevelopment instead of them handing over the project to a developer for commercial real estate-residential housing according to the notice on June 8,” Patwardhan added.
  
  The decision is expected to open more liquidity and financing avenues for real estate development. Federation members said that it will help housing societies implement the 2019 GR to promote self-redevelopment.
  
  Bank manager Shrikant Karegaonkar said that the RBI monetary policy has doubled the limit of housing loan for cooperative banks. “It will help reduce the impact of inflation by pumping more funds into the housing sector and open opportunities to customers with the cooperative sector,” he said.
  
  Members of housing societies said that while 5% of the total assets looks small compared to the demand, the limit may be extended and it was a good beginning.

  Source: realty.economictimes.indiatimes.com

  June 17, 2022

  Uncategorized

• Inflation overdone; Real estate to grow in near future: Report

  News | 07th June 2022

  According to the ‘Bulls and Bears’, Indian valuation handbook, Indian real estate segment shows a good growth with largest ever launch in the pipeline by most real estate companies
  
  Motilal Oswal Financial Services Limited’s (MOFSL), India valuation handbook ‘Bulls and Bears’, May 2022 edition stresses on the fact that the fear of inflation is overdone and the realty segment will see a good growth going forward.
  
  According to the report, most Indian real estate companies have witnessed a 10%-15% rise in construction costs. Now even if the cost is around 25%-40% of the sales price, the overall impact on margins is restricted to 3%-4% only and the realty companies have been able to push a price hike of 5%-8% on portfolio level comfortably.
  
  Strong pre-sales
  
  Affordability, rising need of home ownership and sector consolidation etc. have paved the path for the Indian real estate sector to again see strong pre-sales momentum since the onset of Covid-19. The handbook mentions that with the largest ever launch in the pipeline by most Indian real estate companies, the Indian realty segment is expected to see a healthy demand in the near future.
  
  Reduction in inventory overhang
  
  Since 2013-14, though the housing demand has remained stagnant, the inventory levels have seen significant correction driven by consistent decline in new launches. As per MOFSL, unsold inventory has dipped notably to 4, 37, 000 units from the peak of 7, 70, 000 units in CY13 with the overhang now reducing to 23 months.
  
  Impact of interest rate hike
  
  According to the MOFSL report, while the impact of interest rate hike is expected to be minimal in spite of a similar hike which was made recently, it can have a negative impact as the rates start moving closer to 8%. In that case, most developers will have a 10%+ borrowing cost and this will in turn have an impact on their return profiles.
  
  Realty sector valuation
  
  The report highlights that the top 12 listed companies posted 43%/45% YoY growth in bookings in FY21/FY22. This should have ideally resulted in further re-rating of the stocks, but the rising cost pressure along with recent interest rate hikes have built in expectations of margin erosion and demand slowdown. Hence, post the recent correction, many stocks have now entered the value zone.
  
  The sector valuation has corrected to below its long-term average P/E of 23.2x and is now trading at 21.2x on a one-year forward basis.

  Source: housing.com

  June 17, 2022

  Uncategorized

• Vastu Shastra tips for office to bring prosperity at work

   People often try to make sure that their offices adhere to Vastu Shastra guidelines, to usher in luck and fortune. From maintaining cash flow to business stability, it is believed that Vastu can play a role in everything that you do in the office. In fact, if properly followed, Vastu can also bring financial prosperity and holistic well-being at your workplace. To help you with this, we delve into some important Vastu guidelines that you can follow at your office.

  Vastu for office: Tips for seating arrangement

  Office Vastu: Department-wise seating arrangement

  • As per Vastu shastra for office, entrepreneurs should sit facing the north, east or north-east, as these directions are said to encourage growth and new beginnings.
  • People who are in marketing or sales, should follow Vastu for office seating to gain maximum benefits. They must face the north-east direction, to ensure proactiveness. They can also sit in a north-west direction.
  • Account department officials should sit in the south-eastern corner and should face the north-east direction, as recommended in Vastu rules for office seating.

  Office Vastu: Seating arrangement for managers and owners

  • People in leadership roles, should have a cabin in the west direction and face the north-east direction, as per Vastu shastra for office.
  • Business owners should sit facing the east or north directions. Also, there should be a solid wall behind the seat and not a wooden divider or curtain.
  • Managers, directors and executives should sit in the south-west, south or west corner of the office. This type of Vastu arrangement for office seating will help the workforce take better decisions.

  Employee seating arrangement

  • Employees must face the north or east while working in the office, as it improves productivity. Employees should not sit directly under a light beam. If it is unavoidable, then, it can be covered with a wooden board.

  Vastu tips for office entrance

  • The entrance of the office should be in the north or north-east or north-west direction.
  • These directions, as per Vastu shastra for office are considered to be auspicious and brings positivity.
  • North direction is also known as the direction of the lord of wealth. It will help you in accelerating financial profits, as well.

  Vastu tips for office decor and interiors

  As per Vastu Shastra guidelines for office, the north direction is ruled by the god of wealth while the north-east direction is indicative of a person’s financial health. You can keep a mirror or Kuber Yantra in the north direction or on the northern wall of the office, to ensure good financial health.

  • Avoid piling up of finished goods in the north-east direction, especially in front of the office desk. You can place these goods in the north-west direction, to ensure smooth clearance of unsold stock.
  • As per Vastu shastra for office, place your safe in the south-west corner of the office, to keep financial documents. The safe should face the north-eastern direction, to ensure prosperity.
  • According to Vastu, flowing water signifies the flow of wealth and positivity in the surroundings. A water fountain in the office will help to reduce stress and also give power. Keep fountains in the north for career growth. Avoid placing fountains that flow outward, at the office entrance.

  Vastu tips for office electrical equipment and machines

  The electrical equipment and related items must be placed in the south-east direction of the office building. South-east directions are also suitable for placing electrical appliances in the pantry or the kitchen. According to Vastu, the generator, electric meters and transformers, should be in the south-east corner only. Weighing machines should be kept in the north-west or east. Keep printer scanners, servers, Wi-Fi routers and camera monitors in the south-east zone.

  Vastu tips for office lights

  Lighting, when designed according to Vastu, can create a warm, inviting and energetic office space. Ensure that the office has ample natural light, as sunlight is associated with positive vibes. To have a successful and fulfilling career, bright lights should be in the south zone. There should be no glare on the computer screen. Adequate level of lighting at the workplace, helps to avoid feelings of tiredness and lack of concentration. The amount of light falling on an individual’s workstation should never be excessive in case of general lighting, as it can create a bad effect. Overall, the office should have soothing illumination. Also, the main entrance of the office and reception area should be lit up well with attractive light fixtures, according to Vastu, to invite good energy.

  Vastu tips for the reception at the workplace

  • The reception of any office should be built in the north-east or east direction.
  • The receptionist must be seated facing north or east.
  • The logo or the company profile should be on the southern wall of the reception area. Make sure you are aware of the right office table direction as per Vastu. The reception table should be placed diagonally to the front door of the office.
  • French lavender flowers or green jade flowers can be kept at the reception area. You can also keep a four leaf clover plant at the entrance.

  Vastu tips for pantry/canteen area at the workplace

  • The pantry should be constructed in the south-east direction.
  • At any cost, it should not be located in the north.
  • The walls of the pantry can have colours like light blue or green and plants can also be kept in the pantry.

  Vastu tips for washrooms at the workplace

  • Washrooms are considered to have bad or negative energy. So, it is very important to get the placement of the washroom right.
  • The washroom should be in the west or north-west direction.
  • Washrooms should never be in the east, north-east or south-east directions.

  Vastu tips for staircase at the workplace

  • The staircase can be constructed in the south or south-west direction.
  • According to Vastu, spiral staircases should be avoided, as they are considered to be imbalanced and can affect the positive energy in the office.
  • Office staircases should be ideally painted in light colours and not in black or red colours.
  • There should be no staircase in the centre of the office, as this can lead to financial drain.
  • Plants can be kept on the corners of each step.
  • Staircases, according to Vastu, should have an odd number of steps.

  Vastu tips for installing elevators/lifts

  • According to Vastu experts, elevators in an office, should be installed in the north or east directions, while the north-east and south-west directions should be avoided at all costs.
  • Do not install lifts exactly in front of the main entrance as it will flush out the positive energy from the space.
  • Avoid mirrors on the left as it is not suitable as per Vastu Shastra.

  Vastu tips for your office desk, chairs and cabin

  • Place a mountain scenery in your cabin, behind the chair.
  • You can also place a turquoise pyramid on the desk, for better relations with your employees and peers. The Vastu decorative items for office bring positive energies in the space.
  • Keep your desk clean and clutter-free.
  • Do not let unimportant documents pile up on your desk.
  • Keep papers and books locked away.
  • Throw away broken stationery as it acts as an obstacle to financial prosperity.

  Vastu Shastra tips for choosing wall colours for the office

  Always use bright colours for the wall paint and décor, as it spreads positivity, reflects light and keeps negative vibes at bay. Here is a colour guide for your office:

  Blue: This colour makes the overall aura cheerful and full of positive vibes. You can use this colour for the southern wall.

  Green: Use different shades of green colour as it is beneficial for professional relationships. Paint the south-western wall in a green colour, to promote harmony in the office culture.

  White: Use different shades of white, cream and yellow in south-east, east, north-east and north-west corners and walls.

  Red and pink: Usually, office interiors are not painted in red and pink tones but if you want, you can use these colours on the southern walls.

  Vastu tips for placing plants in the office

  Plants are excellent Vastu items for office and certain plants like bamboo are known to bring good luck for the occupants. To bring positivity and some freshness to your workplace, you can consider adding the following plants at your office. This list has been consolidated keeping in mind the extremely dry conditions due to air-conditioning.

  • Basil plant.
  • Money plant.
  • Lucky bamboo plant.
  • Lotus plant.
  • Lily plant.
  • Snake plant.
  • Cactus.
  • Lemon balm

  You can also consider keeping jade plants on your desk. Apart from this, areca palm plants and dracaena plants are good options, as it brings good luck and prosperity.

  Vastu tips for conference/meeting rooms

  According to Vastu, the best direction to have a conference or meeting room, is the north-west. This direction is also suggested for marketing and sales staff, as they require motivation for improving their performance. You can also plan a waiting room in this area.

  Vastu tips for choosing office furniture

  1. For north-facing workstations, things like files, documents and electronic appliances like computers, must be kept on the left side of the table. If you have a home office, the ideal table direction as per Vastu is the southwest corner.

  2. East-facing workstations should have the storage space on the right-hand side.

  3. Workstations or desks must never be L-shaped or any other irregular shape as it may create confusion and delays in the delivery of work.

  4. Never eat food at the workstation or desk, as it shows disrespect to work.

  5. Business owners, especially entrepreneurs, must ensure that their desk is rectangular or square-shaped and made with a superior grade of wood. Avoid tables with glass tops or metal tables, as these are not considered lucky for any growing businesses.

  6. For the office, it is better to use steel furniture according to Vastu. If you are using wooden furniture, ensure that the sides and edges are rounded and not sharp. Use light colour polish on the wooden furniture.

  7. According to Vastu, the office chair should be comfortable and spacious, with good arm and lumbar support and should have a high back. According to office Vastu, for promotion, add a red touch to the chair. White chairs or white cushions are beneficial, overall. Vastu says to avoid using iron chairs in the office. Never use an upholstered chair with discoloured or faded fabric, or a broken chair, as it is inauspicious. It is better to repair or change it.

  Vastu Shastra tips for the factory office

  In a factory, the office should be located in the north or east direction. When doing business deals, the owner, MD or CEO, should always face the north or east direction, for securing profits. Ensure that there is no beam over the table.

  Vastu Shastra for south-facing office

  As per the south facing office Vastu, the plot should be in a square or rectangular shape. The west and the south can be used for the construction of heavy structures. Ensure that there is open space in the north and the east portion of the office area. The slope of the office floor should always be towards the north-east, east or north direction as this leads to financial gains.The shutter should be maroon or red in colour. If a glass entrance has to be made, design it in the south-east side only.

  The height and the shape of the office building should be even from all four sides. The centre (Brahmasthan) of the office should not have any heavy structure. There should be no water tank in the north-east zone.

  The head of the office should sit in the south or west side of the office, with their face towards the north or the east direction. The ideal shape of the office desk is rectangular. The office should be painted in light colours and one should refrain from using black and brown colours. The doors and the windows should be in the eastern or the northern portion of the office.

  Vastu Shastra tips for home office

  Since work from home has become the new normal, here are some Vastu tips to ensure your workspace at home has a balanced environment and promotes productivity:

  • Set up your desk/home office in the west or south-west direction. Your position during work must be towards the north-east.
  • When setting up a home office, avoid sitting with a wall at the back. Also, never sit in front of a door.
  • If you have a separate space that can be converted into an office, opt for neutral colours. You can also choose light gold, as it ensures productivity and profits.
  • The work desk should be rectangular or square in shape. If one is working on a dining table, then, ensure that it does not have a glass top on it. The work chair should be comfortable, spacious and up to the head of the person sitting on it.
  • The drawers should be in the west or south-west section of the desk.

  Vastu decor items for office

  As per Vastu shastra, certain decorative items for office are known to bring lots of good luck and prosperity for the occupants. Some of these items are listed below:

  • Buddha statue at the entrance
  • Fish aquariums
  • Plants and flowers
  • Paintings like the auspicious seven running horses painting

  Vastu tips for temple in the office

  The temple or an idol of a lord that one worships, should be placed in the north-east corner of the office. In case this is not possible, then, keep the temple in the east direction.Vastu experts state that the Ganesha idol can be placed at the entrance but the back of the Ganpati idol should face the office’s main entrance. Try and always keep the temple clean and decorate it with fresh flowers and incense. Auspicious figurines like Buddha or Ganesha idol are some Vastu items for office.

  Vastu tips for office gym

  If you have a gym at office, follow these Vaastu tips for office to negate any adverse effects:

  • All heavy gym equipment must be placed in the south-west, the west, the north-west or the south-east corner.
  • You can keep light equipment in the north. This direction is also suitable for performing exercises on mats, which should be done facing the east direction.
  • Install mirrors in the north or the east walls and avoid the west, the south or the south-west directions.
  • Do not keep televisions or any other distracting devices, to ensure the room is peaceful. This is one of the essential Vaastu tips for office to keep away the negative energies.

  Vastu tips for selecting plots for office

  As per Vastu shastra for office construction, shermukhi plots are suitable for constructing an office, factory or any commercial building. These types of plots are broader from the front side and get narrower at the ends. One should select a plot closer to the roads that are highly operational.

  Vastu tips for basement office

  Wrong placement of a basement office can bring negative effects for the business. The office basement should be constructed in the east or north direction of the land. Make sure there is more space on the east and north side. Lofts and mezzanine floors, according to office Vastu, should be towards the south, west or south-west.

  Vastu tips for office parking

  Vehicles must be parked in the specified area, towards the north-west of the office building. The north-east should be free from parking zones.

  Vastu tips for office lawn

  Maintaining the outdoor space is one of the Vaastu tips for office that should be followed.
  According to Vastu Shastra, planting trees brings positive energy. Small lawns without trees should be developed in the north-east, north and east directions. Design lawns with big trees on the south and west side.

  Vastu for boss’ cabin

  Vastu for boss’ cabin suggests that it should be in the west or south-west zone. The top managers should face the north or east while sitting in the cabin. Also, there should be a wall behind the manager’s chair. No religious pictures should be placed behind the chair. The table should be made of wood. The door of the cabin should be in the north-east corner. The office or cabin shape should be square or rectangular.

  Common Vastu defects and their remedies

  Vastu tips for office boss cabin

  Having the master cabin located in the north-east or south-east, is a major Vastu defect. As a remedy, place a natural crystal rock in the south-west corner of the main cabin. This will enhance the effectiveness of the earth element; water elements should not be used in this cabin.

  Vastu tips for office entrance

  The main entrance of the office should be free from any kind of obstacle and the environment should be bright and emit fragrance. However, there could be a pillar or a tree at the front entrance. You can place a basil plant between the pillar and the main door. This will add some greenery to space and make the entrance look welcoming.

  Vastu tips for office colours

  You should pick very specific colours to paint your office. For a small office, choose colours in a light shade, such as pastel and neutral hues. For large office spaces, you can use some bright colours. There should not be any error in selecting the colours, as otherwise, it can have consequences.

  Vastu for office corner

  For offices that have extended corners in the north-west, south-east, or south-west direction, you can keep aromatic plants in the window in the north-west corner. Apart from this, putting wind chimes with six pipes in the window in the north-west, can also be beneficial. You can also use the extended area as a storeroom.

  Vastu for missing corner

  If the south-west corner is missing, then, a lead metal Helix must be placed on the wall. Placing a lead pyramid will have more positive impact.

  Vastu remedies for the pantry

  If the pantry or the kitchen have the stove and sink very near to each other, place a copper swastika behind the gas/stove and a pyramid made of Shriparni wood, close to the sink. If your office has a pantry or toilet in the centre of the premises, keep Vastu salt in a wooden bowl and replace it every week.

  More Vastu tips for office

  • You can place a bright painting in the office’s east direction, to weed out negativity from your office premises. This will also boost the productivity of your employees.
  • If your office has a floor sloping towards south-east or west, you can place a lead metal or copper pyramid on the sloping side. You can also place three triangular coral stones if the slope is towards the south-east.
  • According to Vastu Shastra, the central part of the office building should be kept empty.
  June 8, 2022

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• Govt in final stages to approve property cards for flats registered under MahaRERA

  News | 25th May 2022

  The scheme will ensure independent property cards for flats (vertical properties) with details of carpet area, amenity space, bank loan information and 7/12 extracts.
  
  PUNE: : The Maharashtra government was in the final stages of discussion and approval of the draft to issue property cards to flat owners for projects registered under MahaRERA, a senior revenue department official said on Tuesday.
  
  The scheme will ensure independent property cards for flats (vertical properties) with details of carpet area, amenity space, bank loan information and 7/12 extracts.
  
  The draft had drawn a lot of suggestions and objections and a committee was appointed to submit the views to the state before the scheme came into place. “The final draft has been submitted to the government and is likely to be approved in the Assembly session in July,’‘ said the official in the know-how of the proposal. The aim of starting the property cards is to map the vertical growth in cities and rural belts and maintain an independent record of rights and register for the individual apartments and units in the projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA).
  
  The committee for the vertical property cards had earlier submitted its recommendations to the government and suggested the implementation of the scheme in phases. Discussions are on with MahaRERA officials and the government will take the final call once the government clears the draft.
  
  The state issues property cards for urban areas and 7/11 extracts for rural areas. These cards define the ownership rights of an individual or multiple people. However, there is no document available that proves the ownership of a person owning a flat in a building constructed on a particular plot.
  
  “Keeping this in mind, the revenue department decided to introduce the Maharashtra Land Revenue Code, Record of Rights and Registers for Apartments and Buildings Rules under the Maharashtra Land Revenue Code, 1966. This allows the state to provide a property card for flat ownership. Maharashtra has around 56 lakh property cards for plots in the city areas and 2.5 crore 7/12 extracts,” the official said.
  
  Once the new rules are implemented, the current property cards, or 7/12 extract, will become the principal document of ownership. The property card, on the other hand, would act as the supplementary document for the apartment holders, the official said.
  
  A revenue department official said the new record was a push toward cleaner property titles, which would make buying and selling of apartments less prone to risks.
  
  The official said the document might also make the process of getting loans from banking institutions less cumbersome for the consumers.

  June 2, 2022

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• Under Construction vs Ready to move in

  A question that usually troubles almost all home buyers is whether to opt for a ready-to-move-in house or book an under-construction one. Since both these property types serve and suit different purposes and intents, it is imperative to know their pros and cons in details. Here is a ready guide to help you take the decision.

  Under-construction property

  Buying an under-construction property has become one of the easiest ways to realise the dream of owning a home these days. This proposition in real estate comes with certain risks as well, the most common being delayed possession. Let’s have a look at the benefits and drawbacks associated with such properties.

  Ready-to-move-in property

  Due to the incessant delays in project deliveries in the last few years, home buyers have increasingly started preferring ready units. Let’s take a look at the advantages and disadvantages of the same.

  Advantages

  Under-Construction Property

  Easier on the pocket:
  An under-construction property does not hurt a buyer’s pocket as much as a ready home does at the time of buying. If factors such as location, area, property type and builder are same, a ready-to-move house costs more than an under-construction one. The difference in pricing can vary from anywhere between 10 – 30 percent.
  
  Higher returns:
  Buying an under-construction property usually yields a higher return on investment due an extended window period between the buying stage and delivery timeline. If you sell the property closer to possession, you stand a good chance of earning a healthy appreciation on your capital investment.
  
  RERA Compliance:
  Any property with Occupation Certificate as on 1 May, 2017, is mandated to be registered under their States’ RERA. Under-construction properties, therefore, will necessarily come under the ambit of RERA and thus, become liable to comply to fair trade practices. Buyers can avail information regarding these properties on their respective State’s RERA website and even seek speedy grievance redressal by the Appellate Tribunal formed under RERA.

  Ready-to-move-in Property

  Immediate availability:
  One of the prime advantages of a ready unit is the absence of any waiting period. All you have to do is make the payment, go through all the documentation work and move in. This also saves you from the double burden of paying your rent and the EMIs, in case you are getting the home purchase financed.
  
  You get what you see:
  Unlike an under-construction unit, in case of a ready unit, you actually get what you have paid for. As the unit is ready for you to inspect before you finalise the purchase, there is no risk of discrepancies with the promised layout, features, and amenities, among other important things.
  
  Free from GST Implication:
  The recently implemented Goods and Services Tax (GST) levies a five percent tax on purchase of under-construction properties. Ready properties, however, are left out of the ambit of GST.

  Disadvantages

  Under-Construction Property

  Higher risk:
  There is an element of risk involved when it comes to investing in an under-construction project. There have been cases when the builder has failed to deliver on time or in some severe cases, failed to deliver at all due to various reasons such as funding crunch, rise in the cost of construction materials and increase in lending rates, among others. It is, thus, imperative to do a detailed background check of the builder before investing in an under-construction project.
  
  Discrepancy in the final product layout/features:
  One of the most common glitches associated with under-construction properties include the peril of not getting the promised product at the time of possession. Usual incongruities include lesser usable area than promised, changed layout and deficient amenities.
  
  GST Implication:
  Purchasing an under-construction property will attract a tax incidence of five percent of the total cost of property. Stamp duty and registration charges will have to be paid separately, resulting in heavy expenditure on taxes. Affordable homes priced under Rs 45 lakh attract one percent GST of the total cost of property.
  
  Tax Implications:
  Buyers usually finance their home purchase through loans, which are linked to certain tax benefits under section 24, 80EE and 80C of the Income Tax Act. The benefits under these sections are restricted to only ready-to-move-in properties, once the possession has been taken over by the buyer. The tax benefits on the interest paid during the construction of a property can be claimed in five equal instalments beginning from the year of possession.
  
  However, there is a catch here. The tax exemption amounting up to Rs 2.5 lakh on the interest paid on a home loan for a self-occupied property is applicable if the construction gets completed and the homeowner shifts in the house within three years of availing the home loan. In case the construction does not get completed within three years, tax benefits amounting only up to Rs 30,000 can be claimed. These conditions are applicable only if the property occupied by the owner. In case, the owner decided to rent it out or leave it vacant (deemed let out), there is no restriction on the amount of interest deduction. As far as the tax exemption on the principle amount is considered, if the borrower ends up paying the entire sum before possession, there is no rule to claim back any reimbursement for the principle amount. Since projects delays have become so very common these days, those who take home loans on under-construction properties risk losing out on the account of tax benefits. With the uncertainties of Indian real estate, delay in the delivery of a project is quite common. Thus, with under-construction properties you have the risk of losing out on the tax benefits.

  Ready-to-move-in Property

  High Cost:
  One of the most obvious drawbacks of buying a ready-to-move unit is the higher cost as compared to an under-construction property. As mentioned above, the cost difference could be anywhere between Rs 20-30 per cent.
  
  Quality of construction:
  In case of an under-construction property you have the option of evaluating the work progress and thus being aware of the quality of construction in terms of the materials used, strength of the foundations etc. However, in case of a ready unit, you cannot conduct any such checks.
  
  Age of the property:
  Unlike an under-construction property, buying a ready unit might not always ensure you a brand new home. It might have been in up for sale for a long time. Hence, if it has not been maintained properly, it might start looking old.
  
  Exclusion from RERA:
  Old ready units with Occupancy Certificate as on 1 May, 2016, are not mandated to be included under RERA. As a result, its promoters are not liable to make its information available on a public platform.

  CAPITAL GAINS TAX

  In case you plan to buy an under-construction property by selling off an already existing asset, the construction of that should complete within three years from the sale of the property. If the construction takes longer than three years, the Long Term Capital Gains (LTCG) from the sold property are taxed at 20 percent, coupled with the payment of cess and surcharge.
  
  Income tax rules allow tax exemption on the capital gains from the sale of a property that has been held for more than two years ONLY if the amount is reinvested in a property within two years or if it is invested in a house purchased one year before the sale of the asset or used to construct a house within three years. In such a scenario, if the developer delays the possession, you will end up paying a huge amount as ‘capital gains tax’.

  June 1, 2022

  Uncategorized

• Can NRI Buy 2 BHK Flat in Mulund Mumbai

  Under the RBI’s guidelines, a non-resident Indian (NRI) is allowed to purchase certain types of properties, while other forms of realty may require special permissions.
  A non-resident Indian (NRI), who is interested in buying a property in India, can do so. However, his property investment must be made in line with the provisions of the Foreign Exchange Management Act (FEMA). The same FEMA rules are applied to property investments by the people of Indian origin (PIOs).

  Properties NRIs, PIOs can invest in India

  The Reserve Bank of India (RBI) has given a general permission to NRIs and PIO to buy any residential or commercial property in India. They need not seek any specific permission from the central bank nor are they required to send any communication or intimation in this regard to the RBI.
  Under the existing general permissions, an NRI or PIO can buy any number of residential or commercial properties. The income tax law also allows an NRI/PIO to own as many residential or commercial property as he pleases.
  In case the NRI is unable to come to India, the documents pertaining to the purchase can be executed by any person, who is given a valid power of attorney. Under the RBI’s general permission, an NRI cannot purchase any agricultural land or plantation property in India. Consequently, under the existing regulations, NRIs cannot purchase farmhouses in India. So, if an NRI wants to purchase a farmhouse or plantation, s/he will have to approach the RBI for a specific permission and the RBI will consider this on a case-to-case basis.

  Joint ownership

  An NRI can purchase the property, either as a single owner, or jointly, with any other NRI. However, a resident Indian or a person, who is otherwise not allowed to invest in a property in India, cannot become a joint holder in such property, irrespective of the second holder’s contribution towards the purchase.

  Continuance of ownership of property, after becoming an NRI

  What if a person who owns properties in India, subsequently, becomes an NRI? Such a person can continue to hold the property in his name in India. An NRI is also allowed to continue to own any agricultural land, plantation property, or farmhouse that he owned when he became an NRI, which he is otherwise not allowed to purchase, after becoming an NRI. They are also allowed to let out the property, irrespective of when it was acquired. The rent received from such property, can be remitted, after appropriate Indian taxes have been paid on such rent.
  Likewise, any NRI is allowed to sell, or gift an immovable property to any person resident in India. S/he can also gift or transfer any property, other than agricultural property, farmhouse, or plantation property, to any NRI.

  Must-knows for NRIs investing in India

  • An NRI cannot buy agricultural land or plantation in India. However, they can buy residential and commercial properties. In case there is a reason behind scouting for agricultural land, the Reserve Bank of India (RBI) will review such interest on a case-to-case basis.

  • There is no cap on the number of home loans you will be able to take, to buy properties in India.

  • If you wish to authorise a trustworthy person, to conduct transactions on your behalf, such as registration of a property, you will need to give them a Power of Attorney (PoA). The PoA holder signs on the NRI’s behalf, by producing a copy of the PoA to the appropriate authorities.

  • Like any other resident of India buying a property, an NRI is liable to pay the required taxes – stamp duty, registration fee, post purchase annual property taxes and even GST in case of an under-construction property.

  • You can invest in a property in India to earn rental income, as well. However, you would be taxed at 30% via tax deducted at source (TDS), while the remaining amount may be repatriated under FEMA rules.

  • In the case of proceeds that are earned through the sale of an immovable property, it can be repatriated after deduction of between 20% and 30% TDS, depending on whether it is a long-term or short-term capital gain.
  May 23, 2022

  Uncategorized

• Hall colours as per Vastu for a happy home

  By aligning the hall colours with Vastu, one can uplift the positive vibrations in the house.
  
  Colours have the power to heal people, reduce stress and attract positivity. In this article we look at various hall colours, as suggested by Vastu.
  

  Home hall colours as per Vastu

  The hall in a home, is the hub of all energies. It should always have a comfortable and calming touch. The colours of the hall, as per Vastu, should evoke joy, happiness and attract favourable vibes. These colours include a palette of light blue, pale yellow, light brown, white and pink. The colour green or blue can also signify serenity and well-being with a touch of red, orange and purple.

  White hall colour as per Vastu

  White, in all its shades, creates an active and encouraging hall space. When it comes to wall paint for the hall, according to Vastu Shastra, white brings freshness, wisdom and purity. However, avoid a stark white living room and play with textures. Add a subtle dose of pastel shades to add life. Creating a neutral base for the hall interiors and sprucing it up with coloured accessories is the most appreciated design norm. It keeps the space classy. Brighten up a Vastu-compliant white hall with coloured linen or green plants and bright pictures.

  Vastu-compliant blue hall

  Sky blue has an elegance that brings serenity to the hall. Since it is a great Vastu colour, it gives a good vibe to your living room. Light or pastel shades of blue in the living room can create a cosy and peaceful atmosphere. Opt for a Mediterranean-inspired colour palette with a blue accent wall and all-white furniture. Blue also denotes beauty, contentment and inspiration. It enhances creativity if you have a home office in the living room. You can also use it liberally in your work area.

  Brown hall colour as per Vastu

  Brown has become a popular choice in recent years. It has nourishing energy that is associated with good things, such as the earth, chocolate and coffee. As per Vastu, brown radiates comfort and stability. It is easy to incorporate brown in the hall with an accent wall or wooden furniture. The colour brown is traditionally associated with warmth, comfort and shelter. Colours like light brown and other earthy shades evoke a sense of well-being. Decorating with different shades of brown adds visual interest and depth to your hall.

  Green hall as per Vastu

  A colour that is connected with nature and mother Earth, green is calming. It invokes healing and growth. Using green on all the living room walls may be overpowering. Hence, consider using it for an accent wall, curtains in green or green plants. Green also helps calm down tempers and soothe the mood, making it perfect for a family room.

  Pink hall colour as per Vastu

  Pink signifies good health and helps in calming the nerves while also creating a romantic ambience. Pastel pink lends calmness to the hall décor. It represents warmth and love. If you and your family spend a lot of time in the living room, shades of pastel pink colour combination for living room, as per Vastu, can help develop a bond and keep conflicts at bay.

  Vastu-recommended yellow hall colour

  The yellow colour is ideal for halls that do not get enough sunlight. Yellow colour combination in the living room, as per Vastu, can bring a fresh wave of energy, enthusiasm and cheerfulness. Yellow is recommended by Vastu for creativity, concentration, liveliness and happiness. So, it is apt for the hall home office too. You can invite positive energies into your hall by either having a bright yellow accent wall or a statement piece of furniture like a yellow sofa or high back chair.

  Orange hall colour as per Vastu

  YOrange attracts positivity and has the balancing properties of cheerfulness and healthy relationships. According to Vastu, orange generates energy to promote conversations and relations. Use this colour in moderation in the hall, as it can also lead to aggression and temper issues.

  Subtle hues of purple in the hall

  Purple and shades of violet are excellent for stimulating good luck. Purple is linked with royalty, reality and wealth. Add hues of purple or violet in the hall for positive effects on the mind and body, elevating energy, adding calmness and encouraging creativity. Opt for subtle purple on the walls to foster sensitivity, compassion and a soothing ambience. If used moderately, violet brings calm and mental balance.

  Vastu-based colour combinations for the hall

  Vastu-approved colour combinations can make the hall an inviting and joyful space for your loved ones. Use two or three colours to create separate spaces in a living room but ensure that they complement each other to give a cohesive feel. Identify a theme according to your hall style and think of ways to add colours. Always take into consideration the amount of natural light that the hall receives before choosing a colour tone.

  White and blue hall colour combination as per Vastu

  The white and blue colour combination for the hall, as per Vastu, is a reflection of serenity. According to Vastu, the best direction of the hall is the northeast or northwest, making white and blue the ideal colours. White represents the metal element of a place and is linked to calmness and clarity. The blue stands for relaxation and peace of mind. The two colours combined are perfect for the hall, as this is where you spend time with the family and entertain guests.

  Beige and brown combination

  Beige and brown work well together, for inculcating grounded and secure feelings. Beige, the neutral colour, is associated with trees and plants and indicates strength and stability. It is also associated with prosperity. Neutral and warm colours such as light brown and beige are ideal for creating cosy and relaxed environments. Brown, as per Vastu, brings stability, comfort, positivity and prosperity.

  Red, white and purple hall colour

  A burst of colours adds cheer to a room. Representing power and passion, red colour stands for strong emotions, energy and passion. It also represents life and vitality. Use it subtly to not overpower the room.

  A burst of colours adds cheer to a room. Representing power and passion, red colour stands for strong emotions, energy and passion. It also represents life and vitality. Use it subtly to not overpower the room.

  Orange, brown and white colour combination for hall

  Bright as it is, a pop of tangerine orange against a mellow white base and light brown textures can add drama to the hall. Use orange as an accent colour for curtains, carpets or cushions. Orange promotes positive energy and conversation among friends.

  Hall curtain colours as per Vastu

  Vastu-appropriate colours for the curtains can make the hall relaxing and enhance suitable vibes. Use light colour curtains on the windows and doors in the northeast and heavy curtains for the southwest. According to Vastu, yellow, green, blue and beige are ideal curtain colours for the hall. Green is a symbol of hope and stands for healing, blue depicts new beginnings, promoting the inclusion of nature in one’s life and peace, yellow is associated with joy and beige stands for comfort.

  Vastu-based painting and artwork colours in the hall

  As per Vastu tips for positive energy in home, one can display vibrant paintings related to the beauty of nature, to generate positive energy and lift the mood. The colours of the paintings also have an influence on the overall energies in the hall.

  A colourful painting of a meditating Buddha can help you bring inner peace. According to Vastu, Radha-Krishna paintings can also be kept in the hall.

  Peacocks are symbols of wisdom, status and wealth. Hang a painting of a peacock in the hall (blue and green feathers) to invite good luck and wisdom.

  To attract financial luck, hang a seven-horse painting (white-blue, as per Vastu, is ideal) on the wall in the east

  Keep a few green plants in the hall to get the maximum benefit of using the Vastu-recommended green colour for positive energy.

  Plants like the lucky bamboo and money plant attract good luck when kept in the hall.

  May 20, 2022

  Uncategorized