Good news for property buyers. The obnoxious black money, or the unaccounted cash component, for buying a flat is slowly fading out with buyers calling the shots in a market still being rebuilt after crumbling in last year’s financial storm. Across Indian metros, more and more properties can now be purchased through the accounted money or white, thanks to the changed profile of the buyers and the government’s base price policy. “The range of properties that could be bought through only cheque (white component) has increased as most of the buyers are salaried people,” says Yashwant Dalal, president of All India Estate Agent Association, the country’s largest association of property agents with over 10,000 members.

Today as much as 80% of the buyers in top cities such as Mumbai, New Delhi NCR, Bangalore, Chennai and Ahmedabad are salaried, whereas businessmen and speculative investors dominated the market just a year ago when the real estate boom was at its pinnacle, say industry experts. This has forced sellers to either accept white money or lose the buyer in a market where demand still trails supply. While almost all newly developed residential properties can be bought through 100% white money, now many resale properties too are available without the black component.

According to a prominent Mumbaibased developer, the black portion in payment has tremendously gone down in all properties that are below Rs 1 crore. “But for properties over Rs 1-1.5 crore buyers themselves demand that we take payments in black, as they cannot declare the total price of the whole transaction otherwise they could get in to trouble,” said the developer requesting anonymity. Over the last one year, property prices dipped 30-45% and there were few buyers. Those coming into the market are salaried people who can support a loan but can’t afford black money. According to industry experts, some sellers in Delhi and Mumbai still demand black component, especially where the selling price is steep compared to the price of the plot and development costs. But now buyers are snubbing them.

“Recently a seller of a resale apartment was asking for around 30% of the payment in cash (black) for a Rs 55 lakh apartment, but I told him straight away that it was not possible, I can pay little more but arranging for black is a big problem,” said Shravan Desai, a professional working in a multinational in Mumbai. In several places in Mumbai including the western suburbs, New Mumbai and Thane the percentage of the black component has come down from 40% a year back to 15% or even nil in many cases. “If the buyer wants, he can bargain even for full white payment,” says Praful Joshi, a real estate broker based at Borivali . Also, many sellers now accept payment in cheque and are willing to absorb the capital gain tax. The increase in the white component is also a result of some income tax laws that brought more transparency into the property market, say analysts.

“According to Section 50 (C) of the Income Tax Act, one had to pay tax according to ready reckoner prices. If anyone pays below the current market price, he still has to pay tax as per the market rate,” says Vinod Sampat, a tax lawyer and consultant. An individual reinvesting the net proceeds from the sale of a house in another residential house is exempted from capital gains tax. This has given a big relief to many sellers who reinvest in real estate.

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Realty major Puravankara Projects is in talks for an alliance with Homex, a Mexican company that specialises in affordable housing. The idea is to give a boost to its affordable housing subsidiary Provident Housing. Ashish Puravankara, director, Puravankara Projects, said, “We are holding discussions with Homex as they have build a large number of affordable homes. They like our business model and are very keen to tie up.” He did not divulge the nature of the alliance. Homex is vertically integrated home development company focused on affordable-entry level and middle-income housing. It is also the largest home builder in Mexico, based on the number of homes sold, revenues and net income. It has so far delivered around 270,000 homes.

Its affordable entry-level housing ranges between 452 sq ft and 818 sq ft in size and its middle-income apartments are typically 818-1,851 sq ft. Homex has operations in 32 cities located in 20 Mexican states as of December 2008. Homex integrates aluminum moulds into its construction process. With this method, the shell of an entire home can be constructed from concrete poured into as many as 1,000 interconnected pieces of aluminium moulding for an affordable entry-level home. Once the concrete hardens, the moulds are disassembled for use on another home. Each mould can be used as many as 2,000 times. The method also generates less waste, reducing materials cost. Most importantly, the mould system reduces the average time of construction.

Provident Housing has roped in SBI Capital and Housing and Urban Development Corp to raise funds for it affordable venture. The firm is currently at an advanced stage of talks with private equity investors for diluting stake on a project level and hopes to close the deal soon. It has already launched two projects in Bangalore and Chennai and is in the process of launching its second project totalling 6 million sq ft in size in Bangalore with an investment of around Rs 900 crore. The project is expected to have 6,000 apartments. It is currently waiting for sanction to kick start the project. The real estate player will invest Rs 1,900 crore by 2010 on three affordable housing projects in Bangalore and Chennai. The three projects, slated to be ready by 2010-11, will house 15,000 units. The one, two and three bedroom flats will be priced at Rs 10 lakh, Rs 15 lakh and Rs 20 lakh respectively spanning from 750 sq ft to 1,100 sq ft. Provident Housing will also roll out the concept to other cities like Hyderabad, Coimbatore and Mysore in the Phase I. In Phase II it will set up properties in Delhi, Kolkata, Kochi, Jaipur, Pune and Nagpur.

Source – Indianrealtynews.

Do you know where your financial “power spots” are? The contemporary methods of feng shui associate prosperity issues with the back left corner of any space. Stand at your front door facing into the house; your wealth area is at the back of the house on the left-hand side. There’s also a wealth area within each room: facing in from the doorway, it’s the corner area in the back of the room on the left-hand side. Where are the wealth areas within your office, living room, kitchen, and bedroom? Now that you’ve identified your money power spots, here are some quick and easy ways to apply feng shui to these spaces:

1. Clear out any clutter from these important areas. Clutter is a sign of stagnant energy, and clutter in your money power spots can clog up your cash flow. Getting rid of clutter is one of the most powerful ways to shift the energy of your power spots into high gear.

2. Fix things that are broken. Anything that doesn’t work as it should is a sign of something wrong in the area of your life that corresponds to that part of your space. Examine each of your money power spots to look for anything that needs repair. It’s time to do something about that loose doorknob, non-working light switch, stuck file drawer, or clock that doesn’t keep correct time, to name just a few possible examples. Remove items like these from your power spots or fix them so they work properly.

3. Enhance your power spots with symbols of prosperity, such as a bowl of coins (add your loose change to it every day), a “lucky bamboo” plant, or anything that symbolizes success and prosperity to you. There are lots of Chinese luck symbols available, but you don’t have to use them unless you want to. A picture of your dream house, or a model of that luxury car you long for, is an effective money symbol because it has personal meaning for you.

4. Accent your money areas with the colors green and purple. Green symbolizes vitality and growth, and purple is the color of wealth. Place a bowl of green and purple grapes (real or artificial) in the wealth area of your kitchen, to symbolize abundance filling your home. If you use real grapes, it’s okay to eat them, just add more from time to time so the grapes remain fresh and the bowl is always more than half full.

5. Pay attention to how you handle money every day. Do you keep paper money neatly sorted in your wallet or money clip, or is it jammed in there any old way, or crumpled up at the bottom of your pocket? Clean the clutter out of your purse and wallet, and start handling your money as though you value it.

6. If you neglect your money, it will neglect you, so be sure to balance your checkbook regularly and pay your bills on time. Put your checkbook in an attractive cover (choose green, purple, red, blue, or black) and keep it in the wealth area of your desk – that’s the rear left corner again — or in the wealth area of your office.

7. Live generously. Money is a form of energy, and it needs to flow through your life, not just into it. Hoarding and scrimping work against more coming in, while giving generously within your means makes space for even greater abundance. If you don’t yet have ample money to share, give as generously as you can of your time, energy, compassion, and appreciation.

8. Take a few moments every evening to think about all the good things that happened to you today and to express your gratitude for what you have received. Small things count, too, so it’s okay if there’s little of the spectacular on your list most of the time. It’s not what happened that’s important; it’s getting in the habit of focusing on the positive side of things every day that matters. The more you notice, appreciate, and express gratitude for blessings received, no matter how small, the more good things will come your way, including money.

A true experience of prosperity is determined not by how much money you have, but by how well you notice and enjoy what is already present in your life. The formal name for the wealth area is “fortunate blessings” – as you de-clutter, repair, and accessorize your money power spots keep this broader meaning in mind. When you celebrate being rich in friends and family, or rich with laughter, or the richness of your spiritual life, or even being rich in air and sunshine if nothing else seems to be going well for you today, material blessings will come to you more readily as well.

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Feng shui is practical not only for people who live in a house, but for apartment occupants as well. No matter how small your apartment is, there are many convenient ways to improve the feng shui of your place without having to spend a lot of money and time. In this article, you will learn how to feng shui your apartment, using a feng shui strategy called “aspirations of the Bagua” which is a very famous feng shui method in Hong Kong. For those of you who live in a studio apartment or a little dorm room, there are some practical feng shui ideas for you as well. Keep in mind that the important thing about feng shui is to keep everything in good balance and let the chi (life force) flow through each room freely. It is not so much about luxury or showiness, but simplicity and comfort.

Feng Shui Tips on How to Choose an Apartment Building

* Square, oblong, round or pa-kua (eight-sided) buildings are propitious. Try to avoid moving into an irregular-shaped building, because it symbolizes incompleteness. An L-shaped building, for example, gives an impression that something has been missing or cut off.
* The back of your apartment building should be protected in some way, either by a hill or another building. A solitary apartment building on top of a hill, according to feng shui practice, is extremely inauspicious as it is completely unprotected. The wind will blow the chi away, and the water will drain the chi downhill.
* Other buildings nearby and surrounding should be lower or about the same height as your apartment building. A much taller neighboring structure can cause negative chi, especially if it is situated in front of your apartment building’s main entrance.
* The parking area, according to most feng shui gurus, should not be a part of the building itself, unless it is located underground. Ideally, it should be outside the building, because vehicles coming in and out can create too much chi and turbulance to the occupants.
* Every building, from a feng shui perspective, should have a back door. Remember that the heart of feng shui is to allow chi to flow conveniently. When the chi enters through the front door, there should be an exit for it to go out so that more chi can come in.
* In feng shui tradition, water is believed to bring wealth and good fortune. If your apartment building is located near a lake or river, that is considered extremely auspicious. This belief, however, is not only applied to natural sources of water. A pond, fountain or swimming pool, especially if it is situated near the main entrance of the building, is supposed to bring good luck as well.

Feng Shui Your Apartment with Aspirations of the Bagua

The wealth section is located as far to the left of the front door as possible. This area is great for a kitchen, dining room and bedroom. It is the worst location for a bathroom because all your wealth, according to feng shui practitioners, will be symbolically flushed away. If your bathroom is in this section, try to keep the toilet seat and the door closed. Hanging a mirror on the outside of the bathroom door is also a good remedy for this situation, as it symbolically makes the bathroom disappear.

If you want to achieve financial and business success, try to keep this area of your apartment well-lit all the time and decorate it with wealth-related feng shui objects such as an aquarium, coins or fish statuette.

The fame section is situated in the middle back area of the apartment. It is suitable for a bedroom or work area. To increase your good reputation, increase the light in this area, hang up pictures of yourself and display any awards or trophies you have won.

The area as far to the right of the front door is the relationship section, which is perfect for a bedroom. To enhance your love life, decorate this area with pictures of you and your partner, crystals, things that come in pairs and relationship-related feng shui objects such as dragon and phoenix, or mandarin ducks. Avoid placing a mirror in this area; feng shui practitioners believe that a mirror tends to invite a third party into your relationship.

The knowledge area is on the left side, in the front part of your apartment. It should be used as a study room or library. You can improve your study and enjoy your hobby the most in this area, so try to keep it clean and well lit. Keeping books or any items related to whatever you are interested to learn in this section is also very beneficial.

The family location, in front of the entrance and behind the knowledge area, symbolizes both family ties and the health of people in your family. This area should be used for a living room or dining room where family members spend time together. To activate this section and enhance harmony among family members, keep this area bright and organized, and decorate the walls with family photos. Potted plants, in feng shui tradition, can also be used to enhance good health and eliminate stagnation of the chi.

The mentors location at the extreme right of the entrance, represents advice and support from others. It is another good area to be used as a living room. If you feel that you have always struggled alone without any help from friends or family, it is time to activate this section of your apartment. A crystal is a good decorating item for this area. A potted chrysanthemum plant, in feng shui belief, can also be used to improve friendship as it is the symbol of happiness and laughter.

The children section is located on the right of the front door between the relationship and mentors areas and opposite the family area. It is great for a kid’s bedroom or living room. To improve the understanding between you and your children, activate this area by increasing the light and eliminating all the clutter. For people who try to have children, feng shui gurus advise that hanging up a crystal ball attached to a red ribbon or placing fresh flowers in this area can be very auspicious.

Between the knowledge and mentors areas is the career section. This is where you should put your desk and everything related to your work. In order to progress in your career, increase the amount of light in this section, keep the chi flowing freely by hanging up a wind chime, and place a career-related feng shui object on your desk.

The central area surrounded by the eight sections is called “the good luck center.” Some people believe it is the spiritual area where religious objects should be displayed. In feng shui practice, a chandelier is an ideal item to be placed here, as each crystal will reflect and send the positive chi to all other corners of the apartment.

Feng Shui Tips for Studio Apartments or Dorm Rooms

To feng shui a studio apartment or dorm room, you can just use the aspirations of the bagua above as well. Activate specific areas that you want to improve in your life. The easiest way to to arrange a little living space is to decide first where to place the bed. Although there is no bedroom, the bed should still be separated from the work area. The position of the bed should give an impresssion that it is well protected. The head of the bed should be against a wall, but not directly under a window because the chi will flow right out the window, making you feel exhausted despite a long night of sleep. Ideally, there should be a folding screen or a nice piece of fabric hanging from the ceiling to separate the bed from the rest of the room. Place the desk or dining table where it will receive plenty of light, and make sure there is enough space around it. The couch or sofa should be placed near the entrance or where you can see the front door without having to turn your head. The basic idea of decorating a small living space, in feng shui practice, is to make it appear spacious even though it is not. A mirror, therefore, can be a useful object to use for studio apartment decorating, as it symbolically doubles the size of the room. Also, since feng shui is all about keeping things in good balance, your studio apartment should not look too crowded on one side and too empty on the other side. All corners should be proportionately furnished.

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We spend so much time in the bathroom, and yet most of us neglect doing it up. Just because your bathroom is small, does not mean you cannot make it look good. Here are a few tips to help you redecorate your bathroom without spending a lot of money.

Eveyrone’s bathroom can be segregated into three areas – the sink and mirror area, the toilet area, and the shower.

Tiles

Go for neutral shades when selecting tiles for your bathroom. Although patterned tiles look good in a kitchen, they may not look overwhelming in a small bathroom, since the tiles will be all over the walls. If you like a particular pattern, use it as a border, and stick with soft shades.

Avoid using white tiles in a bathroom. They look sterile, and don’t lend a lot of character to the bathroom. However, if your bathroom already has white tiles and you don’t want to spend a packet re-tiling it, consider changing just the top row of tiles so as to make a border.

Mirror

Mirrors look best when placed directly on the wall, instead of on a cabinet. Mirror cabinets or medicine cabinets make small bathrooms look even smaller, since they eat up a lot of space above the sink. If you have a small bathroom, let the mirror run almost along the entire breath, above the level of the sink. You don’t need to frame the mirror – you could border it with tiles, or you could just leave it the way it is.

Sink

Don’t let the sink stand by itself, unless it is a really fancy glass sink or something very plush. Make a cabinet under the sink, and let it run along the entire length of the mirror. Use the space inside the cabinet to place the waste paper basket, laundry basket, extra rolls of toilet paper, mops, toilet cleaners and so on. If you want more storage in the bathroom, you could have a few drawers built into the closet under the sink, or you could simply have semi-circular racks with railings attached to the inside of a slim door. This will give you more space than a drawer will.

Always separate the bathing area from the rest of the bathroom, no matter how small it is. If you don’t, then every time you take a shower, the entire bathroom will get wet and dirty – everyone knows what happens when they step into a wet bathroom wearing shoes.

Separate the bathing area with a shower curtain or with a glass door. Needless to say, a shower curtain will be a lot less expensive. Go for a shower curtain that is white, that matches your tiles, or that is transparent.

Place a small wicker basket on the shelf besides the sink, in which you can place your make up, shaving creams, etc.

Towels

Place a towel rack above the pot or in the shower area. Let the towel rack be such that up can fold towels and place it on the rack, or you can hang wet towels to dry from little hooks. When expecting guests, roll up a few small hand towels, and place them in a small tray-like basket near the sink.

Shelf

All you need is one small shelf near the bathing area, in which you can keep your soap, shampoo, conditioner etc, and one small shelf with flowers – and you’re all set, with a beautiful, neat and functional bathroom.

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Homes reflect one’s inner self, a portrayal of one’s presence by throwing light on the lifestyle of the inhabitant. A well kept home symbolizes the ethics of the inmate and a well-kept bathroom embodies his cleanliness. Immense care is taken to maintain one’s home beautifying it now and then by an aesthetic dweller. But how many lucky bathrooms enjoy luxury and pampering. But, thanks to the changing times where people do realize the need and the necessity for not only clean but also the breath taking appearances of bathrooms which are no longer the places of negligence. Extensive care is taken to enhance the beauty of the bathrooms.

Bathroom decor is the most commonly undertaken apart from kitchen of all others as it is less time consuming. One has to prudently choose the color for the bathrooms with accordance to the color of the particular room. One can go in for tiles that are specially designed to suit their need, which has various ranges, ranging from the high, priced vanity ones to the affordable budget ones. Ceramic tiles are preferred to wallpaper for durability and easy cleansing .The flooring and the wall tiles should not fail in matching the theme and scheme of one another. Breathtaking BathroomsA good coat of gloss painting above the tiles suggests easy manageability and to break the boredom of continuity of the tiles. Limestone, marble and china counter tops are long lasting and are ones that can withstand moisture. The modern market satiates the cravings of an artistic inhabitant with varied and diverse designs in bathroom accessories that include furniture
, faucets, garb rails, tubs, Jacuzzi and mirrors. A good choice of designer accessories may cause a dent to one’s budget but never the less falters to enrich the decor of the bathroom, not to forget the inmate’s taste.

For an adult one can go in for colors that are bold or subtle in accordance with his or her taste but for children, perky and cheerful colors would be the right choice.

The cabinets can be painted on the inside to provide an appealing look While not to ignore the knobs that can either be wooden or plastic for a calculated build and gold, silver or chrome for a budget-free plan. Bath mats, napkins and towels can be of the same hues to conform to uniformity and to acquire a posh look. Eye-catching hues provide a fresh and contemporary appearance. Vinyl shower curtains could be inexpensive and can provide a casual look.

Hand painted accessories with abstract designs or the conventional ones can never be out of vogue. Small vases with natural or artificial flowers and leaves can adorn your bathroom and petite pictures can also do the same. One can also opt for small chinaware statues or idols along with the other adornments. As for tiny tots bright floatable toys can make their daily bath effortless, easy and playful. It would not be appropriate to desert the pals of bathroom readers .If you are a rapacious reader and your bathroom can allow some space to house your books, a small book case or a built in storage shelf can make your books and magazines find themselves comfy in a cozy corner.

So all set for a better bathroom? Or rather a breath taking bathroom?

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Before buying an apartment carefully examine all types of legal documents related to the building, and the land. You can ask for the certificates and documents cleared by the respective agencies or boards.

* Check that property has clear legal titles or not. Continue reading »

Are you buying a residential apartment in Chennai? Few points which can be useful for you :

A Residential apartment or simply apartment is a self-contained housing unit that occupies only a part of a big building. It may consists of a single bedroom, double bedroom or even more. In most of the commonwealth countries, the term ‘flat’ is used to describe apartments. Continue reading »

Row houses come in the category of urban homes, which are located in the same area and are coherent with each other in architecture, design, and appearance. A residential row house is a style of housing in use since 17th century. These houses are identical or mirror images of each other and the adjacent houses share side walls. They are built in a straight row and generally such two rows are built in parallel to each other. Row houses can be of multiple stories. The first and last of these houses are called end terrace and they are usually larger than the houses in middle. These houses are also known as Terraced Homes or Town Houses in other parts of world. Continue reading »

According to market analysts, office spaces have started generating buyer interest from corporates, boosting developers’ confidence in this segment. But industry experts added a note of caution, saying the supply-demand gap is still huge. “There is a bit more inquiry for office spaces than a few quarters ago, which is a positive sign. Continue reading »