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    Finance Flats in Rajarhat Real Estate

    Projected Rebate Extension Impact on Rajarhat Properties

    For the fourth time now, the state government of West Bengal has extended the 2 % reduction in stamp duty and the 10 % circle rate rebate for the real estate sector until 2022. This has been a welcome change for prospective homebuyers. Homebuyers suffered a great deal during the pandemic. Hence, the government’s decision to incentivise the rebate for another year has received an encouraging response. This has had an impact on the properties in Rajarhat as well.

    The Confederation of Real Estate Developers’ Associations (CREDAI) chairman Nandu Belani hopes that the government reduces the stamp duty by 5 % permanently. He goes on to state how beneficial it has been for the government ever since the rebate was issued. This is because the buyers started to pay the entire stamp duty in full at the time of purchasing the apartments. This resulted in prompt revenue for the government. This only bodes better for the real estate industry, as revenue has seen a considerable spike. 

    The 10% reduction in the minimum designated price per sq ft for land or property or better known as the circle rate, has generated a huge demand for most of the housing projects in Kolkata

    Top Homebuying Myth Busters For Apartment Complex In Kolkata1

    Expectations Post Rebate Extensions

     

    The government’s action to provide a demand stimulant at the right time. As in most other cities, sales momentum had dropped significantly in the early stages of the pandemic, so this stimulant was critical to reviving the market. We anticipate that this move will encourage more people who are on the fence to make a purchase decision. Properties in Rajarhat are likely to see an increase in purchases as a result. 

     

    Why Invest in Avaasa in the Wake of an Extended Rebate?

     

    Oswal’s seal of trust, coupled with state-of-the-art amenities, makes Orchard Avaasa a reasonable choice, especially in the wake of rebate extensions.

    With cutting-edge amenities and easy access to airports, hospitals, and essential stores, Avaasa checks all the boxes for a premium lifestyle. To top it all off, they provide unique amenities such as Skydeck and Skyplex. Their 2 BHK luxury flats in Rajarhat, Kolkata, start at 61.3 lacs, and 3 BHK flats at approximately 73.4 lacs. Finding modern convenience that you can trust at such prices with rising inflation will rather be a task. 

     

    Avaasa is not just a top-class housing complex in Kolkata; it is the home of investments made right. 

    Categories
    Finance Flats in Newtown Kolkata Flats in Rajarhat Interior Design

    5 Interior Design Ideas to Turn an Apartment into Your Dream Home

    apartment-interior-design-ideas

     

    Buying a home is the ultimate dream for families in Kolkata. But does it end just by choosing one of the best residential projects in Rajarhat, New Town? Absolutely not! Creating a strong first impression is a priority and beautiful spaces tend to speak for themselves.

    However, designing it accordingly may not seem as easy.

    That’s why we’re sharing the top interior design ideas just for you!

    Here are a few simple ways to give your home the best look it deserves.

     

    Add the Impression of Space

    If there’s something that everyone is trying to achieve, it’s the struggle to create maximum space inside. Of course, choosing 2 BHK affordable housing in New Town comes with a fixed carpet area. But did you know that you can make your home appear more spacious than it actually is? This is done through careful interior design and placement of items and furniture.

    Moreover, it also means getting rid of clutter. Discard the unnecessary and find multipurpose objects that can store the important things that may not add to visual beauty. Opting for tools like floating shelves provide a fine impression while saving tremendous space. And lastly, clean as often as you can while using natural light to the fullest. That’s how you will add more space to your interiors.

     

    Explore the Wonders of Colour

    The first thing that guests tend to notice is the colour of the spaces inside. So when trying to upgrade the interior design of a home, choosing the appropriate paint and colour palette is the right way to go. And no, choosing a neutral shade is not the ideal solution as most think. There are three basic hues: dominant, secondary, and tertiary. Use these in fixed proportions to add more depth, but the ratio can be changed based on your aesthetics.

    Also, it doesn’t have to be solely about colour. Wallpaper can prove to be a superb choice for interiors within residential projects in Rajarhat, New Town. This is because you can make modifications based on patterns and designs for a better appeal. Whether painted walls or wallpaper, ensure that they work well with natural light as well as after sunsets. And lastly, remember that the remaining décor will be based on the colour scheme you choose.

     

    Keep an Eye on Visual Elements

    Some pieces in a home function to make a statement. A vintage piece of furniture. An antique mirror. Modern artwork. They could be anything that could help increase the appeal of affordable housing in New Town, Kolkata. These can also take the shape of lampshades, lights, bookcases, tables and anything that captures attention.

    Plants are also used owning to their budget-friendliness as well as their ability to breathe life into spaces. Identify your focal point and set up spaces around that. Don’t forget that the bespoke piece you select has the power to leave your guests in a state of awe!

     

    Personalize it to Perfection

    A good home is not just the result of choosing one of the best residential projects in Rajarhat, New Town. Rather, it is a personal space where we enjoy the company of our loved ones and relax after a long day’s work. So ask yourself, what’s a home without a personal touch?

    Artwork by your children, trophies and achievements, souvenirs collected on family trips – you can keep these memories alive by putting them on display. In fact, showcasing your personal collections also reflect the hobbies and talents of each member. Hence, keep these treasures arranged to draw attention and add a personal touch to light up your home.

    Categories
    Finance

    What is the Meaning Repo Rate and How Severe is the Impact of its Reduction? Find out Everything!

    Repo Rate Definition

    Purchasing a property is one of the biggest decisions we take in our lives and since it involves a lot of money, it is obvious that we want everything to go smoothly. To make sure it does, the most important thing you can do is keep the legal activities involved with it in check at all times. Most people choose the route of home loans when they want to buy a property because it is never advisable to wipe your bank accounts clean for just one thing. In addition to that, home loans come with their own set of tax benefits as well as terms and conditions which make them a little complicated. According to a conference held in May, the governor of RBI had announced the reduction in repo rates by 0.4 percent which now stands at 4 percent. This has gradually also led to a cut in the reverse repo rate to 3.35 percent. Buying a home is quite a big deal for anyone and all these new terms can be particularly overwhelming for someone who is investing in real estate for the first time. If you too have your eyes on a small 2 BHK flat in North Kolkata or a luxury 3 BHK apartment but do not know what repo rates mean and how they will influence you and your home loan, then don’t worry! We are here to break it down for you.

    What is repo rate and how do they work?

    What is Repo Rate

    Repo rates are considered to be the rate at which commercial banks such as ICICI, HDFC etc, borrow money by selling their securities to the Central bank of our country. This is done in order to maintain liquidity and is one of the most important tools used by RBI to keep inflation under control. When you borrow money from the bank, you are supposed to pay an interest on the principal amount which is known as Cost of credit. Just the same way, when banks face financial crises, they borrow money from the Reserve Bank of India (RBI) and pay interest for the same. Repo is the short for ‘Repurchasing option’ or ‘Repurchase Agreement’. In this agreement, the RBI receives eligible securities such as Treasury Bills from the banks. An agreement to repurchase them at a predetermined price will also be in place. This way, the bank gets the money and the central bank gets hold of the security. Therefore, a leverage is created.

    What are the parameters on which RBI agrees to execute transactions with banks?

    Mentioned below are the components based on which RBI agrees to execute transactions with banks:

    • Cash reserve or liquidity: RBI lends money to banks as a precautionary measure to maintain liquidity.
    • Short-term borrowing: Banks cannot borrow money for a long period of time. At max, they get the time of an overnight post within which the banks have to buy their securities back.
    • Prevention of economic crunches: The inflation decides whether the repo rates shall increase or decrease. This is done to maintain the economic condition of the country.
    • Collaterals and Securities: Gold, bonds, G-securities etc are all accepted by RBI as a form of security.
    • Leverages: RBI provides cash to the banks in exchange of buying securities and bonds.

    Does repo rate affect the economy? If yes then how?

    Repo Rate India

    Yes, Repo Rate can in fact affect the economy and also regulate the money supply of the country as well as liquidity and inflation. So to explain it in simpler words, higher the repo rate, higher will be the cost of borrowing for the banks. In time of inflation, the RB tries to regulate the financial condition of the economy by increasing the repo rate. This way, the money supply is slowed in the market due to borrowing becoming expensive. RBI attempts to bring down the cash flow in the economy during an inflation. Similarly, to increase fund flow into the system, the RBI reduces the repo rate. 

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    What is reverse repo rate?

    Reverse repo rate is the reverse process of borrowing. In this, the central bank of the country (Reserve Bank of India) borrows money from commercial banks. Just like repo rates, reverse repo rates is a great policy to monitor the flow of cash in the economy.

    What is the difference between repo and reverse repo rate?

    • Repo rate is the monetary policy tool where commercial banks borrow money from the central bank.
    • Reverse repo rate is the tool where the central bank borrows money from the commercial banks.
    • Repo rates are higher than reverse repo rates
    • Repo rates help manage deficiency of policy and inflation whereas reverse repo helps maintain cash flow in the economy.
    • Repo rates include security sales which can also be repurchased later in future and reverse repo rate is basic transfer of money from one account to the other.

    What is the reduced repo rate and what is its impact?

    Impact of Repo Rate

    The changes in repo rates happen too often. It is the macroeconomics factor that determines whether the repo rates shall be high or not. Not all sectors benefit in the same way. Some segments receive the benefit while others face losses as well. RBI recently cut down the repo rate by 25 basis points to 5.15% from 5.75%. In the same line, the reverse repo rate was also reduced to 4.9% from 5.5%. Two most important sectors that face a direct impact of changes in the repo rates are:

    On home loan borrowers

    Home Loan Borrowers

    Most projects by reputed builders in Kolkata allow home loans to be claimed on them. The reduction in repo rates mean maximum benefits on EMIs of home loans. The revision in the repo rate will lead to a revision in the interest rate every three months. Additionally, the change of interest rate is assumed to be faster for repo-linked home loans in contrast to loans linked to MCLR-an internal benchmark of banks.

    New borrowers

    According to the declaration made by our financial minister the credit-linked subsidy scheme (CLSS) in the Atma Nirbhar Bharat Package, has been extended till March 2021. As per the PMAY scheme, the middle-income group – I (MIG -I) with income between Rs 6 lakh and Rs 12 lakh can get interest subsidy of 4 percent while the MIG -II with income within a bracket of Rs 12 lakh and 18 lakh can avail interest subsidy of 3 percent. This is likely to make loans a lot more valid and extremely reasonable for the borrowers.

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    Finance

    DO NOT Finalize Your Flat On B.T. Road Until You Read This

    Are you looking for a flat on B.T. Road? Are you confused with the options available and worried about the right choice?

    In these challenging times, not many are getting the confidence to buy new homes, which they have been contemplating for so long. Multiple options, huge discounts, offers are ruling the market and is purely a buyers’ market, which makes it favorable and enough ammo on why one should take the plunge and buy new homes for their family. 

    At the same time, with multiple offers, huge discounts, it’s challenging to make a choice. As there have been so many instances of home buyers falling in the trap of huge discounts.

    In this write up I’ll provide you five critical reasons on why to choose Orchard 126 as your dream home.

    Oswal Group has been growing from strength to strength over the last 16 years and has delivered projects as promised and every time on time. Orchard 126, a premium project on B.T.Road, is second from Oswal Group after successful completion of Orchard County just 1.5 km away from it. With stiff competition in the area with 3-4 other projects, Orchard 126 has been able to carve its niche over the last two years. With the completion of the project on time, Orchard 126 is what was promised.

    5 reasons on why one should choose Orchard 126 out of several other options on B.T. Road are—           

    1. Delivery – On-time delivery is a cliché that usually no one attaches to a Real Estate project, all the more in the present scenario where projects have been delayed for years, unfortunately for the buyers. Oswal Group has been able to keep its act together and has delivered all its projects on time. Orchard 126 is the only project in its vicinity which has been constructed as promised and completed on time. Orchard 126 has been able to continue what Oswal Group is known for, delivery on TIME every TIME. It’s not only the time that matters but the detailed planning that goes behind it, which makes it possible to construct AS PLANNED AND ON TIME.
    2. Design Oswal Group has never compromised on the design even if it meant a higher cost of construction. The thought behind it is the intention to give a unique product that can stand out in the market and satisfies the needs of the family. Orchard 126 is no different and with its compact design of flats, but still all 3-side open makes all the apartments airy and with a natural source of light, an essential factor from Vaastu point of view. Its twin G+21 towers stand out in the vicinity as being the tallest towers on B.T. Road, giving a huge amount of open spaces for facilities and amenities.
    3. Location Orchard 126 is unique with its location too. With just around 6.2 km from Dunlop and 1.5 km from Sodepore crossing, it is strategically located at Agarpara, a more peaceful part of B.T. road away from the congested area of Dunlop and Sodepur and yet very close to them. Being a corner plot on the main road makes it even more advantageous from the buyers’ point of view. With roads on two sides, a private temple on one and low-rise buildings on the other, Orchard 126 is assured of its aspects were unchanged. The most crucial point from a buyer’s perspective is the Ganga View. With just over 1.5 km away but due to the height of Orchard 126, the sacred and vital for most, Hooghly river can be easily viewed from higher floors making it a unique project and traditionally of importance to most buyers.
    4. Successful Project – Orchard 126 is a successful project in many senses. Be it its design, construction method, quality, location, on-time delivery, or customer satisfaction, Orchard 126 for the past couple of years has been the talk of B.T. Road. From a buyer (family) perspective, what are the points which one thinks on ticking before moving on to a new home–On-time, Value for money, location, design & quality, community living. Orchard 126 have ticked on all these points, most importantly on community living. How will a family feel after moving into a new home (new project) and find more than 50% flats being vacant? A family moves it to new community living project to have more friends, good neighbors, company for their kids, security which makes occupancy and kind of people buying in that project very critical. Orchard 126 is the highest-selling project on B.T. Road, with just 14.1% of the units unsold as on 31/01/2020. With no special investor pricing ever at Orchard 126, all buyers are end-users, which makes it highly probable to see most flats being occupied soon and a community living in a real sense, unlike projects in the vicinity where nearly 50% flats are still vacant.
    5. Value for Money – Despite all positive points in a project, it may be of less importance if it doesn’t fit into one’s budget and gives value for money to the family. With all positive points and edge above all vicinity projects, Orchard 126 is presumed by many that it must be expensive. It’s not. It is one of the most pocket-friendly options on B.T. road. Over 76% of the prospective clients visiting the site have been converted to a buyer, which in real estate is an unrealistic figure. Over 76% have found the project to be excellent value for money. With its clear and transparent pricing and payment schedule, compact sizes, and lowest rate, Orchard 126 is what 138 families have already found it to be – VALUE FOR MONEY.

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    Categories
    Finance

    Benefits That The Union Budget 2019 Will Bring To Buyers And Investors

    Benefits That The Union Budget 2019 Will Bring To Buyers And Investors

     

    The Union Budget plays a very important role in our lives. This is because everything from getting cash every day to deciding which railway ticket to book is decided by this budget. The Interim Union Budget has been released for the year 2019. It brings up quite a number of pleasant surprises in store. This is especially true for the real estate developers in Kolkata.

     

     

    The real estate sector occupies a pivotal position in our lives. This is because residential apartments form an intrinsic part of our lives. People all over the world and Indians, in particular, invest heavily in property. This makes it essential that we pay a lot of attention to this important domain of our lives so that we are better informed when we make the decision to buy an apartment.

     

     

    This article provides you with an overview of what the Union Budget 2019 will bring to buyers and investors alike. Here we inform you about all the changes that have taken place in this year’s budget that holds good for property buyers. We also provide you with snippets of information that will help you stay aware and in the loop of the latest developments in this exclusive domain.

     

     

    Read on to find out the different benefits that the Union Budget of 2019 will bring to buyers and investors alike.

     

     

    1.     You Can Buy Two Houses

     

     

    Earlier, property owners could only get tax gains on one house owned anywhere in India. However, with the recent Union Budget, property owners can invest in two houses and still get the tax gains that are associated with it. The only catch is that the total value of the property should not exceed Rs. 2 crore. All these stipulations are given in Section 54 of the Income Tax Act. This modification that has been brought about in this Act has helped immensely in helping investors buy two houses at the same time. It also holds good for the builders and developers who have made real estate their business.

    2.     No Income Tax On Second House Occupancy

    According to the previous budget, those property owners who had two houses had to pay tax comparable to the notional rent of occupancy on one of them. This caused various hardships to them as many families need to keep two 2 BHK houses for multifarious reasons. The reasons could be many like old parents who need some more space, children who need a separate place to study or even a separate house for spouses who are living apart for their jet-set careers.

     

     

    In this budget, the Government has realized the importance of the second house in the lives of the citizens and has removed this tax on the notional rent of occupancy for Indians. This has really helped them live out their lives in a fuller and more efficient way. Another boon that the Government has given the citizens is to extend the period of collecting notional rent on inventory that is unsold from one year to two years. This has given the people a lot of leeway in managing their property in the best possible way. In this way, this beneficial move has helped both home buyers and real estate investors alike.

     

     

    3.     Raise In The Limit For Taxes Paid By Corporations

     

     

    The recent budget has raised the limit for taxes paid by non-individuals, in other words, the corporations. Earlier the tax limit for corporations was 1.8 lakh in every financial year. But with the current budget, the limit has been effectively raised to 2.4 lakh per year. In this way, the raise has immensely helped corporations who rent out their properties for supporting themselves financially. This move will also help them in getting proper exemption from taxes for these properties.

     

     

    4.     One Year Extension For Benefits Of Section 80-IBA

     

     

    Another important development that has come about is that the Government has given one-year extension for the benefits accrued as per Section 80-IBA of the Income Tax Act. This has enabled all the residential projects that have been approved until 31 March 2020 to enjoy the benefits that have been provided by this Act for two years based on unsold inventories. Real estate developers will find it worthwhile to build and develop more affordable projects especially 3 BHK houses owing to the expected rise in the supply of such additional projects.

     

     

    5.     Pradhan Mantri Awas Yojana

     

     

    The Pradhan Mantri Awas Yojana or PMAY is a flagship project launched by the Government of India to provide all Indian citizens with an affordable home by the year 2022. As the name suggests, this project has been started with an aim to provide a roof over the heads of all Indians.

     

     

    The Government has played a major role in this regard by providing exclusive funds to help financial institutions like banks to provide the citizens with affordable home loans for helping them to purchase this property. This has happened in spite of the fact that the allocation for PMAY has been reduced from Rs. 26,405 crore to Rs. 25853 crore. This clearly shows the high level of interest that the Government has played in this regard. It also reflects the support given for implementing this program at the grassroots level.

     

     

    The most current opinion of real estate developers is that the Union Budget has immensely helped both builders and developers and also the clients. This is because they have been provided with an extremely lucrative deal. The raising of the tax ceilings will play a major role in increasing the buying capacities of prospective home buyers. On the other hand, the developers will also benefit from the reduction in rent provided on unsold inventories with a ceiling of two years. All these above factors will trigger positive market sentiment that will considerably help in bringing up a favorable ecosystem.

     

     

    In this way, the Pradhan Mantri Awas Yojana has played a pivotal role in making housing affordable to the masses. This scheme definitely needs to be lauded with all the respect that it due to it. We will hopefully see the fruits of its success quickly given the amount of time and effort that has been expended in making this endeavor a grand success.

     

     

    From the above, it is clear that the Union Budget 2019 will bring about a lot of benefits to buyers and investors from all over the country. This is especially true for new residential projects in Kolkata. Therefore, it is indeed prudent for us to realize the noble causes that it supports and join in making the best out of it.