What is Carpet Area & Built-Up Area ?

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Let’s admit it – the terms and jargon thrown at us by Agents and Realtors have us staring at them cluelessly most of the time. While buying a house, terms such as carpet area, built-up area and super built-up area moslty evade our realm of understanding, or at least cause some confusion.

Carpet Area

Carpet area is the area that can actually be covered by a carpet, or the area of the apartment excluding the thickness of inner walls. Carpet area does not include the space covered by common areas such as lobby, lift, stairs, play area, etc. Carpet area is the actual area you get for use in a housing unit. So when you are in search of a house, look at the carpet area and then make your decision, because that is the number that will give you an idea of the actual space at your disposal.

Focusing on the carpet area will help you understand the usable area in the kitchen, bedroom, living room, etc. Nowadays, many builders don’t even mention carpet area at first, and usually charge on the basis of built-up area or super built-up area. Carpet area is usually around 70% of the built-up area.

Built-Up Area

Built-up area is the area that comes after adding carpet area and wall area. Now, the wall area does not mean the surface area, but the thickness of the inner walls of a unit. The area constituting the walls is around 20% of the built-up area and totally changes the perspective. The built-up area also consists of other areas mandated by the authorities, such as a dry balcony, flower beds, etc., that add up to 10% of the built-up area.

So when you think about it, the usable area is only 70% of the built-up area. So, if the built-up area says 1200 square feet, it means around 30% (360 square feet) is not really usable, and the actual area you will get to use is only the remaining 840 square feet.

We hope this clears up the confusion that always seems to permeate floor areas and how prices are calculate.

Dos and don’ts for NRIs Investing in Indian realty

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Besides exercising necessary due diligence, NRIs also need to adhere to certain specific laws and regulations, while buying, selling, or renting out real estate in India. The realty market in India, has always seen considerable interest from the Indian diaspora, as an investment avenue, with developers constantly striving to woo non-resident Indians (NRIs), they can choose from a variety of options, in the residential and commercial segments.

Buying and Selling

An NRI can either come to the country and buy or sell a property, or give a Power of Attorney (POA) to a relative and get the transaction done, without coming to India. NRIs can also avail of home loans in India. The documents for the loan may vary, according to the country in which the NRI is settled.

Generally, the term of the loan will be 10 to 15 years, while the amount that the NRI is eligible for, will vary based on age, income, education, etc. To finance the property’s purchase, it is advisable to use a non-resident external (NRE) account, as this will help the NRI to take back the capital invested in the property, when they resell the property.

Investing for the future

Once the primary residence is secured, NRIs can also use surplus funds, to invest in a second apartment and use it to generate rental income. However, they must be aware of all the bye-laws and regulations that apply to NRI investors, especially with respect to taxes, as rental income is taxable in India.

It is also taxable in other nations, except in cases where a treaty exists between the two involved countries, with regards to double taxation, he points out.

Vastu Shastra tips for a temple at home

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The temple at home, is a sacred place where we worship God. So, naturally, it must be a positive and peaceful place. The temple area, when placed according to Vastu Shastra, can bring health, prosperity and happiness to the house and its occupants. Although a separate puja room would be ideal, this is not always possible in metropolitan cities, where there is space crunch.

How should a temple at home be constructed as per Vastu

When it comes to constructing the temple, do not place it directly on the floor. Instead, keep it on a raised platform or pedestal, advises Parmar. “The temple should be made of marble or wood. Avoid temples made from glass or acrylic. Do not clutter the temple. Ensure that you do not have multiple idols of the same God or Goddess, either in a seating or standing position in the temple. The idol or photos placed in the temple, should not be cracked or damaged, as it considered is inauspicious,” suggests Parmar.

One should be able to perform poojas, wherever the temple is kept. During special poojas, the entire family tends to pray together. Hence, ensure that there is enough space for the family to sit down and pray. The temple area should have good and healthy flow of energy. So, keep it neat and clean, without dust or cobwebs and avoid stuffing the space with too many accessories. Above all, the temple should give you a feeling of serenity and calmness

Do’s and don’ts for decorating a temple at home

  • The light or diya, should be placed on the right side of the person performing a pooja.
  • Decorate the temple with fresh flowers. Light a few aroma candles, dhoop or incense sticks, to cleanse the area and create a divine ambiance.
  • Photographs of the dead/ancestors, should not be kept in the temple.
  • Create a small shelf near the temple, to place the incense, puja materials and holy books.
  • Ensure that there are electric points near the temple, so that one can light up the temple during festive days.
  • Avoid keeping unnecessary items below the temple or dustbins in this area.
  • Some people keep the temple in the bedroom or kitchen. In such cases, hang a curtain in front of the temple, when you are not using the temple.
  • Temple should not be against a wall that has a toilet behind it. It should also not be placed below a toilet on the upper floor.
  • For the temple space, use white, beige, lavender or light yellow colours.

Real Estate automates with technology

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Throughout history, most of the inventions are influenced by the nature and the demand for a better form of usable materials. Since ever humans are trying to incorporate various scientific calculations along with the valuable and operational items to improve the living style and standard. These experiments gave birth to the new technology which changed the face of the world and proved beneficial to run various components of the life cycle.

In the current scenario, our life is surrounded by technology and our dependence on it is increasing on a day to day basis. From morning alarms to quick breakfast, computers and laptops for official and personal works to transportation- everything is dependent upon the technology. Similarly, various sectors like agriculture, real estate, and education etc are also dependent on technology.

Sparsh fastens with technical offer the best housing experience

Although the real estate sector is a combination of natural and artificial resources like land and buildings-residential or commercial- its dependence on technology has been increasing periodically. The concept of buying, selling, renting houses is deeply linked to the technological advancements. The sector is using latest technologies- skills, machinery and tools to provide the best in class construction to people.

Sparsh- Touch Life will be well-equipped with latest and user-friendly technology that will help, guide and secure the residents in best possible ways. Sparsh has strategized the use of best and updated technological advances like fibre to home, Building Management System, 24×7 CCTV security, etc will help in leading a healthy, active, comfortable, secure and smart life at Sparsh.

Reasons that will Inspire you to plan a Rishikesh-Haridwar trip

A small urban city located at the foothills of the Himalayas, with the holy Ganges running through it, Rishikesh and Haridwar are neighbours recognized around the world for many reason, the biggest one being its spirituality. A popular yoga and meditation hub, especially with international travelers, it is also a hub for adventure sports in North India. Here’s what you need to do when you’re visiting.

bharat mata mandirBharat Mandir (Rishikesh)- This ancient temple is amongst the most famous in the area and was built by Adiguru Shankaracharya back in the 12th century. Situated in the heart of the old town, its location along the banks of the Ganga is ideal. The main deity installed here is of Lord Vishnu, and the idol has been carved out of a single piece of Saligram.

Ram Jhula (Rishikesh)- Also referred to as the Shivananda Jhula, this suspension bridge across the Ganga river was once just a hanging jute rope across which Lord Rama is said to have crossed the river. On either side there are busy market places, and the Shivananda Ashram on the Swarg Ashram side, is one of the most famous in Rishikesh. This iron bridge is Rishikesh’s biggest landmark and attraction.

laxman-jhulaLaxman Jhula (Rishikesh)- Lakshman Jhula is an iron suspension bridge across the river Ganges, located 5 kilometres (3.1 mi) north-east of the city of Rishikesh in the Indian state of Uttarakhand. The bridge connects the two villages of Tapovan in Tehri Garhwal district, on the west bank of the river, to Jonk in Pauri Garhwal district, on the east bank. Lakshman Jhula is a pedestrian footbridge that is also used by motorbikes.

Patanjali Yog Peeth (Haridwar)- Located in Haridwar, this is the centre for Yoga and Ayurveda activities in India. Named after Maharishi Patanjali who invented Yoga 5000 years ago, the ashram is run under the guidance of Swami Ramdev Ji Maharaj who has revived Yoga and helped in spreading it across the world. Patahnajali Yog Peeth provides visitors with several facilities including Yoga classes where you’re taught ancient techniques like Tattva Yoga, Kriya Yoga, Hatha Yoga and Ashtana Yoga.

Har Ki Pauri (Haridwar)- This is one of the main attractions for those traveling to Haridwar and Rishikesh for religious purposes. This is believed to be the exit point of the Ganges from the mountains and entry into the plains. The ghat is also known as Brahma Kund, and was built by King Vikramaditya in memory of his brother Brithari who often meditated on the banks of river Ganga. History records an imprint of Lord Vishnu’s foot on one of the stones present on the ghat, which is where this religious site takes its name from.

campingCamping (Rishikesh)- The best way to complement your rafting adventure, is by ending the day at one of the many river-side camps. Tents are pitched beside the river, and you can choose your type of tented accommodation based on your budget. Before dinner, all the campers sit around a bonfire where they’re served drinks and snacks before proceeding to a simple yet lavish spread for dinner. This is the perfect way to complete your experience, under a blanket of stars, breathing in the fresh mountain air.

Raja Ji National Park (Haridwar)- Distinct for its pristine scenic beauty and rich bio-diversity, the Rajaji National Park in the is situated along the foothills of the Shivalik range and exhibits the Shivalik ecosystem. Rajaji is one of northern India’s major wildlife reserves, and is one of the best places to see the flora and fauna of the terai region. The park has been named after the late freedom fighter Sri C. Rajgopalachari, who was popularly referred to as ‘Rajaji’.

Rafting (Rishikesh)- Rafting is a sport known to man of the most exciting and thrilling adventure. Those who have had the pleasure of rafting expeditions to ensure this. Rafting in turbulent waters is an experience that you will keep the rest of his life. In the foothills of the Himalayas, they serve as the perfect setting for Rafting in Rishikesh. If you have not had the experience of rafting in India, however, plan your next adventure holiday here to be removed from their daily lives, to be thrown into a world of thrills, chills and spills.

Vastu Home implying South East facing Flats / Apartments- Advantages or Disadvantages

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Vaastu rules say that all directions are good. However, the internal layout of the house (position of the kitchen, toilets, bath rooms, bed rooms, mandir, main door, etc.) and cuts/extensions in the shape of the house if any, decide the benefits or losses due to the energy of any direction.

Thus, if the main door is in a direction which is ideal as per Vaastu rules, it will bring in good energy, but if the door is in a direction which is prohibited for an entry by Vaastu rules, it will bring in bad energy. E.g. Vaastu rules do not allow entry from the South West but insist on having the Master bed room in that direction.

Thus, we see that the south west is not a good or bad direction per se; it is the best direction to have a bed room and a very bad direction to have a door. In this article we will discuss about the South East (SE) direction.

  • South-East facing Flats/Apartments are considered a medium type of plot where the occupant has a average success in his/her life. Success comes in little by little.
  • South East facing Flats/Apartments should have a lower compound wall boundary towards east (half )& higher boundary towards the south (other half). Height & width of the boundary should be based on the size of the plot.
  • Main gate (compound gate) should be placed in the auspicious zone on the south-east boundary wall. Ideally it is advisable to make a internal lane on the north-east boundary wall. This will reduce the size of the plot but will help in making a door in positive direction.
  • Leave equal space on south-east and north-west zone of the plot while making a constructions.
  • Avoid slope towards the sotuh-east of the plot or home as this will create a “major vastu fault”.
  • Avoid slope towards the sotuh-east of the plot or home as this will create a “major vastu fault”.
  • looking for luxury then your past home

RBI’s Monetary Policy positively impact the Real Estate sector of India

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Reserve Bank of India was founded on April 1, 1935, in response to the economic troubles faced by the country after the First World War. The RBI was conceptualized based on the guidelines offered by the Central Legislative Assembly as the RBI Act 1934. Since then the Reserve Bank of India is vested with the responsibility of creating and piloting policies with regard to the use of monetary instruments under its control in order to attain some objectives concerned with the growth and stability of Indian economy.

The Monetary policy is a process through which the government, central bank or the monetary authority decide the management of the liquidity (money supply, availability and the rate of interest) of the economic growth of the country with a prime objective to manage and control inflation followed by reduced unemployment. This liquid cash includes credit (includes loans, bonds, and mortgages), cash, cheque and mutual funds.

The second largest employer of India after agriculture, the Real Estate sector is allied and affected by the economic changes taking place in the country. With a contribution of 5%-6% in the country’s GDP, real estate is an essential contributor to Indian economy which attracts and draws the foreign direct investment resulting into triggered economic settings of India. The RBI’s monetary policies directly impact the growth and development of the construction sector in India.

real-estate-india-policyAfter a downfall for almost half a decade, 2017 witnessed an upsurge in the economic conditions of the real estate sector with market appreciation of 10.5% in 12 months. Until June 2017, the Indian Real Estate grabbed a spot among the top 10 international markets. The ongoing slow growth of the real estate sector enforced the government to revise their monetary policy and the RBI further lowered the REPO rate which positively impacted the real estate market as banks were able to offer bank loans at more attractive interest rates. Cheaper home loans triggered the market and home buyers were influenced to buy residential property. The new home loan borrowers paid a lower rate of interest rate as compared to the old loan debtors.

dataIn recent years the real estate sector has experienced massive changes and the revised REPO rates resulted into the boom in the real estate sector followed by the increased purchasing power which is attracting buyers and national and global investors, lower rate of interest for home loans. This resulted in the manufacture of more residential and commercial properties which upturned the face of the construction segment.

After a decade-long slowdown in the real estate sector, the industry is now allayed and confident in reviving the property investments. The changes in the repo rate made by the RBI along with other changes in the economic framework of the country enabled the real estate sector to reach new heights by turning productive and rewarding for the buyers and developers.

Tehri Lake- Adventures & Sports

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Uttarakhand is not only the Land of Gods but also the Land of Rivers and mountains. The state government of Uttarakhand has decided to convert the famous Tehri Lake into an Adventure Tourism. In the upcoming few months Tehri is going to be the ‘to go’ destination for adventure sports enthusiast from all over the nation. This revamped look of Tehri includes many different and varied activities from Jet Skiing to Hot air balloon rides.

Earlier in the name of Adventure sports the people of our country had limited options and traveled to other places to quench their thirst of adventure, but now it is all going to change. With the rise of adventure sports in India, the Government of Uttarakhand is planning to change the famous Tehri Lake into a major Adventure tourism destination.

Tehri lake is an artificial water body that was created in 2005 during the construction of the Tehri dam on the Bhagirathi river in Tehri district. The overflowing waters of the dammed river submerged about 33 villages in the vicinity. The erstwhile royal palace also went down under.

Teri Tourist Attractions Places is given below

Tehri Dam- Tehri Dam is most important thing to see in Tehri Gharwal. Tehri Dam is main Attraction of Tehri Gharwal. The Tehri Dam is highest dam in India and one of the highest in the world. It will be An multi-purpose rock Also earth-fill bank dam on the Bhagirathi waterway close to Tehri On Uttarakhand, india. It will be the essential dam of the THDC india Ltd.

Tehri Trekking- With incalculable trekking trails and spots in the area blended with streams and waterways and some stunning perspectives, Tehri Garhwal has a tendency to be a significant most loved for trekking.
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River Rafting in Tehri- Tehri Garhwal is a popular spot for white water rafting. River Rafting is very enjoyble activities in Tehri Gharwal.

Dhanaulti Tehri- Dhanaulti an Icy Heaven . The tinsel town of Dhanaulti is emerging as a popular winter destinatination . Situated on the Mussoorie – Chamba course right around 44 km from Tehri Garhwal, Dhanaulti is a place that is known for concealed fortunes. With not very many voyagers mindful of the level of magnificence, the crude trails are practically untouched.

Rock Climbing Tehri- The Old Tehrithat was once intensely possessed, today lies under the water in remains. With incalculable trekking trails and spots in this chilly district, scattered with streams and waterways and probably the most stunning perspectives, Tehri Garhwal has a tendency to be a significant most loved for trekkers and mountain climbers.

Vaastu Tips for choosing a new Apartment / Flat

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If you are about to buy a new home or an apartment, there are several Vastu aspects of the property that you must check.

The Indian architectural science of Vastu Shastra, has been a basis for identifying and developing the best living spaces. Vastu-compliant plots and homes, help the inhabitants to live their lives with more happiness, wealth, health and prosperity. This ancient practice has gained popularity in the real estate space, for identifying the best places, plots and structures for residential purpose.

While evaluating the design plan or layout of a plot or a construction (flat or apartment), the first consideration should always be for a good entrance. The entrance holds the key to ushering in positivity and happiness for the entire family.

Each living space has 32 possible locations that can function as an entrance of a building. Each of these 32 locations, has their own significance and affects our lives accordingly.

Entrance-:

  • For instance, an entrance in the south-east zone, the Vastu zone of cash, results in delayed payments.
  • A south-west entrance is among the least Vastu-compliant entrances and families living in such homes, can face monetary and relationship issues to a great extent.
  • If you have an entrance in the north, you can expect great success in monetary and business matters, as well as opportunities in your career.
  • If your chosen property or apartment does not have a Vastu-compliant entrance, you can still buy the property and apply certain simple Vastu remedies.

Room Location-:

Avoid buying a house with bedrooms located in South-South-West, West-North-West, and East-South-East Vastu zones. Similarly, toilet in the North-East and South-West must be avoided. A shop or house having right planning as per the attributes of 16 Vastu zones attracts money, footfall, gains, profits and better health.

Objects-:

While buying resale homes, you need to check right placement of symbols, paintings, sculptures and household articles and appliances. For example, if there is a swastika or Ganesha made on the main door, you must remove it immediately after buying the property.

As far as the kitchen appliances are concerned, the cooking gas or the gas stove should be ideally placed in the South-East or the South-South-East Vastu zone. If kept anywhere else in the house, it can be treated by a stone slab of an appropriate colour and material.

Home Loans- best way to finance a housing deal !

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Home Loan is a sum of money borrowed from a bank (nationalized or private) or a housing finance company to purchase a house. The younger generation is keen on making the biggest financial investment at a very young age and the biggest felicitator is the home loan advantage offered to a home buyer. Home loans make it easier for an individual to buy real estate early on in life for investment purposes or as an end user.

Home loans are seen as a big liability due to the big amount and the long repayment tenure, however these loans offer many benefits that provide relief to the individual. Firstly, they help one is securing a home, which is everyone’s end goal in life. Second, home loans mitigate the risk of investing in property, if banks for home loans already approve a real estate project; it means it is a trustworthy project. Repayment of home loan through EMI’s is a long process of over a decade and during this tenure the market rate fluctuates impacts the rate of interest. During this oscillation the rate of interest decreases and provides an opportunity to the individual to repay the loan. Home loan is available for every individual in exchange for some proofs and documents for the validation. An individual can avail home loan along with other loans like car loan, personal loan etc.

The major factors that should be considered before finalizing the loan provider:

  • Rate of Interest

chart-rate-interestRate of Interest is the most important factor that affects the home loan therefore it is suggestive that an individual should go for a lower rate of interest.

A lower rate of interest reduces Equated Monthly Installment which is easier to repay and also increase the chances of availing higher loan amount. Banks and financial institutions have set different rate of interest for men and women. The banks or financial institutions evaluate the salary or the source of income and based on that decide the rate of interest, and the amount of loan.

  • Type of Interest

The banks or financial institutions offer to types of rate of interest- floating and fixed. It is advisable to consider the type of rate of interest that a bank is offering before deciding. Most banks offer a floating rate of interest and not the fixed rate.

In the fixed rate of interest, the loan repayment amount is fixed and same percentage is charged throughout the loan tenure, irrespective of the fluctuations in the market rates. It remains fixed as contracted at the start of the loan process.Floating rate of interest as the name suggests fluctuates with the change in the market rates. As the market rates go down, the rate of interest also goes down providing an opportunity to the individual to repay the loan. Usually, the rate of interest is reset every 6 months depending upon the oscillations in market rates.

  • Tenure

Tenure is another factor that affects the home loan and repayment conditions. Most of the banks offer home loan for tenure of 20 years but in some cases it also goes up to 25 years. A longer tenure means lower EMI and a higher loan amount.

  • Down Payment

down-payment-planEvery bank asks for a certain percentage of total cost as the down payment. It is demanded to ensure that the loan seeker has some stake in the property. In most cases the down payment is up to 20%, the bank or the financial institution as the home loan provides remaining 80%.

  • Processing Fee/Administration Fee

Every bank charges a non-refundable processing fee to process the home loan application which is usually up to 0.5%, irrespective of approval or rejection of the home loan. Administration fee is charged of approx. 0.5 % during the disbursement of the home loan at the time of giving out home loan cheque. It is suggestive to choose a bank that charges lower fee.