Sunday, 11 March 2018

Salient Features of Luxury Homes

The economic liberalization of the nineties brought with it industrial development and economic growth. For the last two decades and more, India has been one of the fastest growing major economies in the world. The rising affluence of the citizenry has caused a simultaneous rise in the demand for luxury homes. According to Forbes, India boasted as many as 101 billionaires in 2017, and the number is set to grow in the future. In addition to that, more than 2.36 lakh people in India are millionaires. 

It is no surprise, therefore, that there is a huge demand for luxury housing in the country, and that demand is growing steadily with every passing year. Property developers too are building world class, state of the art residential properties to satisfy the demands of their wealthy and discerning clientele. Some of the most important features of a premium luxury home have been listed below for your perusal. 

· Technology: When it comes to luxury housing, automation is the buzzword that is being talked about by developers and homebuyers alike. Smart and energy efficient homes with state-of-the-art amenities, powered by the latest gadgets and technologies, are demanded by the new generation of homebuyers.
· Space: A luxury home must be spacious and open, allowing for the unhindered entry of natural light and air. It should be large enough to comfortably accommodate every member of the homeowner’s family, as well as all his belongings. Apart from that, the interiors should be designed in a way that allows for the most efficient utilization of all available space.
· Location: Luxury homes are usually situated in prime locations of the city. They are well connected to all parts of the region via roadways and highways. They are also close to all the important landmarks of the city. Every important amenity such as schools, hospitals, shopping complexes, etc. must be within easy reach of the luxury flat or villa.
· Construction: The raw materials used for the construction of the luxury home should be of superior quality. All the fittings, fixtures, accessories and furnishings must be impeccably manufactured and sourced from reputed suppliers. Factors such as exterior and interior makeovers, design rebuilds, bath and kitchen renovations and architectural nuances should also be considered carefully when building a luxury home. 
In order to buy luxury flats in Mohali, Chandigarh or any other part of Punjab, you should check out the websites of some of the most reputed property developers operating in northern India. You can then choose to buy a flat or villa in one of their latest, most hi-tech residential projects.

Wednesday, 21 February 2018

Why opting for an apartment in Mohali is a good idea

Mohali is slowly, but inevitably becoming the center of exponential growth. This is why the demand for residential areas is at an all-time high. If you are thinking about purchasing an apartment here yourself, here are a few reasons why this decision would prove to be a good idea:

Affordable costs
The affordable real estate prices are a major reason why you should invest in an apartment in Mohali. This is a great crowd puller, since the ever increasing costs of residential and commercial areas everywhere is a nightmare. You do not have to pay as much as the prices in Chandigarh, and are still in close proximity to the city.

Better connectivity
Mohali is constantly evolving and as it does so, it is improving its road connectivity too. Travelling in and around the city is easy and the emergence of industrial areas as well as an international airport goes to show that things are going to be even more convenient in the future.

A host of entertainment activities
There is a lot to do when in Mohali. You can indulge in golf at the golf course, head to water and amusement parks, or to wildlife sanctuaries, and you can explore the major attractions of the place, such as the City Centre, Habitat Centre, and Amb Sahib Gurudwara with ease. These entertainment activities add value to the properties in Mohali.

The rise of the IT sector
Although many individual are skeptical about buying apartments in Mohali due to the current economic situation, this scenario is likely to change soon. A number of IT companies have begun setting up base in Mohali, which will soon translate to better market conditions, and anticipated price hikes, which makes ‘now’ the best time to invest in Mohali.

Mohali is a budding hub for residential as well as commercial property buyers. Its amenities, beautiful surroundings, and rising growth come together in a perfect way to offer people living here the best standards of living. Realtors and property developers also feel that as Chandigarh has reached its saturation point, shift to real estate properties in Mohali is a rational choice. You can find amazing 2 BHK apartments in Mohali that suit your preferences and needs for perfection, within the budget you are looking for.

Tuesday, 30 January 2018

Here’s how to go about buying plots in Mohali

Buying a plot has in a way become a thing of the past these days particularly in big cities because land has become a rare commodity. Every vacant land parcel is grabbed by builders to construct high rises, leaving very little room for people to buy independent plots to build their home. People who want to buy their own plots are hardly left with any option than to check out properties available in the outskirts or suburbs. This is the usual state of affairs in real estate in metro cities like Delhi, however, in places like Mohali, people still have the option of buying plots within the city. 

Mentioned below are some of the tips to follow to buy plot in Mohali or any other place where land parcels are available for sale:

· Just like home loans that you get to purchase a ready apartment, you can also get a loan from a bank for buying a land. However, the rules for getting loan for lands may differ and therefore, it is important to talk to an expert before starting with the procedure.

· When buying a plot, make sure that the original Deed Title, Encumbrance Certificate and Property Tax Receipts and Bills are in place. Also make sure that any previous loan on the plot is paid off with a release certificate.

· It is always recommended to purchase land near upcoming or prime growth areas as this means your property has a greater chance of increasing in value at a faster rate. Thus, when buying a plot, check the area for building codes, zoning, and other regulations to ensure the area will maintain its value in the future. 

· Buying property from a developer or builder can be a cost effective option and thus, when planning to invest on plots make sure that you are choosing a reputed real estate developer.  

· Check a property’s legal documents to ensure that you can use the site and build the home the way you want. HOA rules, Restrictive agreements, historic districts and environmental conditions such as wetlands can affect the use of a property. Therefore, it is vital to check all restrictions related to plot before finalizing on the same.

· Find out how much land you would like to use as built up area. Think whether your dream home will fit into that land before buying a plot.

These are some of the tips to follow when buying a plot. 

It is important to note that a land is always an asset and owning a land can become an easy task provided you follow the above mentioned tips.

Thursday, 28 December 2017

Finding the Best Office Space in Mohali

As you scout the spaces for an office in Mohali, you may find the entire process tiring and frustrating, given the amount of choices you have. Yes, Mohali is a happening city that is fast turning into a commercial and industrial hub in Punjab. Hence, the demand for office space has spiked and finding the ideal space requires more than cursory planning.

Here are some tips to help you find the best office space for your business:

Plan Your Budget
Before you begin looking for office space, get your budget in order. In Mohali, just like in any other city, the price varies based on the location and size of the office. Hence, in order to work out your budget, you will need to shortlist a few locations in the city and freeze on the size of the office. Be realistic when it comes to your budget by scouting different areas and getting a feel of the price of the properties in those locations.

Find the Hidden Costs
Every property has some associated costs that you need to be aware of. Whether you are buying or renting the office space, it is important that you find out about the hidden costs in the form of common area costs, utility costs, housekeeping costs, security costs, and others. This way, you will be able to discern whether you can actually afford the space you are interested in.

Check the Location Carefully
Choose a location based on your business. For instance, Sector 85 in Mohali is a commercial hub and home to many offices, restaurants, cafes, and banks. This makes it easy for you to entertain business clients, while making sure that your employees can access restaurants and banks with ease for their personal use. Also, the sector is easily accessible by different modes of transportation, so employees, clients, and visitors will be able to commute with ease.

Every office requires certain amenities to function optimally. When you narrow down the list of spaces for your office in Mohali, check and compare the amenities. Today, it is normal for developers to offer 24-hour power backup, security, surveillance, pantry services, housekeeping, and ample parking space. These are the amenities any office worth its while should have.

Use these tips to find the ideal office space for your business in Mohali. Of course, there are other factors that you may have to consider too; nonetheless, these tips give you a starting point to begin your search for the ideal office space in the city.

Tuesday, 17 October 2017

Factors to keep in mind while investing in Luxury Residential Properties

Before you purchase a luxury residential property, it is important that you evaluate your finances. Based on your earnings and expenditures you should fix budget regarding how much you are willing to invest in purchasing a luxury residential property. Once you have fixed a budget, you can start searching for suitable residential properties. Moreover, if you are looking at the transaction as an investment, then you must take into consideration factors like location of the property, reputation of the realtor and also the amenities provided by the residential property as a whole. All of these factors have bearing on the price of the residential properties. The importance of taking the earlier mentioned points into consideration while investing in a residential property have been discussed in the following section.

Investing in Luxury Residential Property

If you are looking for a residential property in Mohali then it is advisable that you purchase one that is located within a hi-tech township, which is being developed by a reputed real estate development firm. It has been observed that residential properties located within ultra-modern and mega townships, which are spread over three hundred acres of land, have higher rates of appreciation than standalone residential complexes. Along with the location, there are certain other factors that have bearing on the price appreciation rate of residential properties and some of these are as follows:

  • Ensure that the city in which the luxury residential properties are located is a thriving commercial and industrial centre, like Mohali. This will ensure that there is an influx of individuals from the high income group who are willing to pay sufficiently high rents for luxury apartments. This will subsequently ensure that you are able to realize your investment with ease.
  • The residential property itself should have facilities like wide open green spaces and should be in close proximity to departmental stores, pharmacies and other commercial centres.

Thus, irrespective of whether you want to purchase a luxury apartment as an investment or in order to stay in it, it is important that you evaluate carefully all aspects of the residential property as a whole.

Tuesday, 12 September 2017

Factors that can help you determine whether to Rent or Buy a House

The question of whether to purchase a house or stay in a leased place has always been a debatable thing. The change from being a tenant to a house owner is a complicated one, both financially and emotionally. Investing in a property is no doubt a smart choice; provided you consider the below mentioned factors:

  • Owning an apartment is an expensive thing and if you do not have the means to pay for it out-and-out, you will need to opt for a Home Loan. In case you opt for home loans, then it is important to keep in mind that banks tend to give you a loan around 80 to 90% of the cost of the property. This means that the rest 10 to 20% needs to be given by you. Moreover, you will have to ensure that you have sufficient cash to make the down payment.
  • Another important factor that you need to consider is the ratio of debt and income. This is basically the number of loans that you have taken in proportion to the income. When taking a loan, most lenders look at this proportion to ensure that you do not default on your debts and loan payments.
  • When purchasing a house there are other expenditures to think about such as insurance, property tax, maintenance and annual repairs. You also have to think about which city to buy the house in, the Metros or the Tier II cities like Mohali that will be soon developed as smart cities.
  • When you buy a house, keep in mind that you need to give up on flexibility. In case you shift jobs and your new office is at a distant location from where you stay then that can be an issue. Obviously, there are ways to cope with this but it is something to think through when deciding whether to buy a house or rent one. If you can buy a house in the city center, in cities like Mohali you can surely save up on the travel time and easily reach your workplace.

As mentioned above, there are a range of factors that needs to be considered while making the decision to stay on rent or buy a house. Real estate is an ideal asset class to possess and can act as a guard against inflation. But, you should not buy a house just because it is good to own a property. A careful analysis of the above mentioned factors should help you to determine if you can purchase an apartment or buy a villa in Mohali or similar Tier II cities or continue to stay on rent.

Wednesday, 5 July 2017

What are the Factors that Determine the Price of a Residential Plot?


If you are thinking of purchasing a residential plot, then it is important that you understand the factors that are taken into consideration while determining its price. Purchasing a residential plot is essentially a monetary investment and hence, you must ensure that the investment produces good returns. Additionally, evaluating the factors that affect the price of a residential plot is essential, so that you do not pay more than the required amount. Managements of renowned real estate development firms insist that clients must have a thorough idea of the ongoing price of residential plots of a certain region, so that they do not fall prey to unscrupulous realtors. Moreover, it is advisable that you purchase a residential plot from a renowned real estate development firm, so that you can be assured about the pricing of the plot of land.

Factors that Influence the Price of a Residential Plot

If you want to buy plot in Mohali then the first thing that you should take into consideration, while evaluating the price of the residential plot is, its location. Prices of residential plots that are located near an important by lane will definitely be higher than one that is located in the interiors of the region. Additionally, residential plots within integrated townships are more expensive than standalone residential plots. Hence, the location of the residential plot plays an important role in evaluating the price of the piece of land. Some other factors determining the price of a residential plot are as follows:
The topography of the land, such as quality of the soil, rocky terrain, presence of water and other such factors also affect the price of a residential plot. The price of fertile and agricultural plots are usually higher than residential plots that do not have any significant features.
The size of the plot, i.e. the square foot area of the residential plot that you wish to purchase is also a crucial factor in determining price of the piece of land.

Thus, features like the location and size of a residential plot are the major factors that determine the price of the plot of land.