Indoor Gardening In Small Apartments In Kolkata May 25, 2018

Looking For Flats In Kolkata? Are You Ready Financially? May 16, 2018

How East-West Metro Corridors Are Encouraging Real Estate Developers In Kolkata May 08, 2018

5 Ways to decorate your Kitchen In Your Apartment Apr 14, 2018

Reducing Human Interaction in the Wake of Property Portals Apr 03, 2018


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    Has Real Estate Projects Been Affected By GST?

    Jan 31, 2018

    The year 2017 had seen its ups and downs with the advent of demonetization itself. Before even, we saw the face of stability, sales, and launch of new homes went down because of more focus on under construction projects by the developers. The real estate saw a further downfall when the government introduced a 12% GST on under construction real estate projects along with other goods and services. However, the only ray of hope was seen when the leading developers increased their market share every 3 months and developers and investors from Mumbai and Pune contributed more than 45% on demand and supply of the whole country. The GST has had its impact on all sectors and here we discuss how it can affect your dream of moving into a new home.

    Impact of GST on Under Construction and Luxury Real Estate Projects

    • Ongoing residential construction services are subjected to 12% tax with total input tax credit (ITC) and are non-refundable in case of surplus ITC. Developers in Tamil Nadu, Karnataka, and Andhra Pradesh can expect improvement in margins (up to 12% from 10-11%) due to the availability of input cost credits provided there is no price revision in future. The top real estate builders in Kolkata, who do not fall under these regions may increase their property prices by 6% with no input credit available to them.
    • In case the credits are passed on completely by the developers, the base price is expected to come down and the home buyers are the one to gain from this under the GST rule. Although stamp duties will be applicable in case of both under construction and completed projects.
    • Property under the luxury real estate projects are subjected to 12% ITC and is not adequate to bring down the tax liability due to overhead taxes. Only the basic construction cost is supposed to lower by a very thin margin in case of luxury projects.

    Impact of GST on Ready Properties

    Ready properties for sale can wave off the GST only if the OC for the project has been established. According to a report from CRISIL, excise duty and VAT paid by a developer was different for every state. This disparity has been sorted out by imposing 28% and 18% GST on cement and steel and 28% on paint and other white goods. This has led to 12% tax on the final product. The tax amount applicable to the land and the entire cost is 12% which makes it easier for the developers to avail the input credit. The home buyers are thus relieved of the GST liability.

    However, the developer has to pay the GST on the complete project and the input credit is only claimed on the construction cost. This causes a gap of 30% which the builder in order to bridge will raise the price of the property whether or not you choose to buy a ready-to-move-in or an under construction property.

    What to expect?

    • After the demonetization in India last year, many potential buyers were expecting a drop in real estate prices which wasn’t happening.
    • With 2018 budget, buyers can expect reduced stamp duty rates and home loan rates. If the Government looks deeper into the matter and realigns the stamp duty rates with the GST rates or waives off stamp duty rates, the price of property an witness a subtle fall which is beneficial for home buyers in 2018.
    • Presently under the GST regime, real estate is applicable for 18% tax along with only 1/3rd abatement for land. Since the share of land in metro cities is more than half of the total project cost, it is not wrong to vouch for increment on abatement of land to 50%.

    Government Plans for Real Estate Projects-2022

    The ‘Housing For All By 2022’ venture by the Government targets at delivering 10 million houses out of which 95% is to be constructed for Economically Weaker Sections (EWS) and Lower Income Groups (LIG). People are expecting lowered tax rates from 18% to 12% GST on property purchase with abatement for land raised to 50% hence bringing down the tax rates to further 6% GST. This program can prove of huge advantage to the actual cause of the project by the year 2022. For those looking forward to purchasing new residential projects in Kolkata, can hope for a better scope in the coming 2 years.

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    Can NRIs Purchase A Property In Kolkata Too?

    Jan 24, 2018

    You had the wings to fly, and now your roots are pulling you back? Every individual feels the urge to come home once in their lifetime so strong that they try all ways and means to fulfill that wish. Bengalis residing abroad are always looking forward to investing in a property in Kolkata for future use. However, countries and continents apart, old age and religion may not keep you from getting what you want, but the law can. Property acquisition for non-residential Indians has certain constraints.

    Do the RBI guidelines allow an NRI to own a real estate property in Kolkata?

    The RBI does not prohibit any NRI from purchasing or owning a residential or commercial property in India. Although the NRIs are free to purchase or inherit a property in India, they cannot buy any agricultural land or plantation property without special permissions.

    The Foreign Exchange Management Act (FEMA) has laid down few rules and regulations for the NRIs and Persons of India Origins (PIOs) interested in acquiring property in India. Every NRI or PIO shall be treated at par for investing in real estate property.

    • Being an NRI, you will not require any permission from the RBI to purchase any residential or commercial property in India.
    • There is no need of sending any communication or intimation to the RBI regarding property purchase.
    • The income tax laws also do not prohibit NRIs from procurement of one or more real estate property in Kolkata or anywhere else in India.
    • The investor can apply for a loan to any bank by online or offline methods too.
    • NRIs are not eligible to buy or own any farmhouses or plantation in India. They shall require special permission from the RBI for such kind of land acquisition.
    • All transactions done in Indian currency maintained in a non-resident account by the FEMA and RBI regulations.
    • The NRI interested in purchasing a real estate property has to give Power of Attorney (PoA) to one of their friends or relatives for compliance with processes in India.
    • The PoA can be customized to give full or restricted rights to the representative.

    Co-owning a property isn’t a trouble too

    So you are looking forward to jointly owning your property in Kolkata with someone? As an NRI you can do that too. The Government of India allows an NRI or a PIO to jointly own a property in India. Your second holder has to fulfill the following criteria:

    • He or she has to be an NRI or PIO
    • One should be eligible to invest in any property in India
    • The second owner should contribute to the property acquisition

    What if a person who owns properties in India, subsequently, becomes an NRI?

    It may happen that an individual, who is a resident of India has invested in a real estate property and has later attained citizenship of another country where he or she has started residing becoming an NRI in the process. In such situations too, one shall continue to be the owner of the property irrespective of his or her duration of stay in the country. In this case, a person owning an agricultural land or a farmhouse shall also remain the owner of the same. They are also free to rent, sell, transfer or gift their property to an Indian or an NRI post all taxes have been paid on time.

    Certain real estate builders in Kolkata can also give proper guidance regarding the legal aspects and tax issues too before purchasing any property in Kolkata. For more details, contact Realtech Nirman.

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    Home Decor Ideas During Winters

    Jan 15, 2018

    So you thought winter is here finally (and I mean in a non-Game of Thrones manner) and you can now show off your winter clothes. This was fun until the temperature drops to as low as 11 degrees in Kolkata and you struggle to get out of your bed even to answer nature’s call. The fog outside blinds your vision. The chilling breeze freezes your nose tip. And as if that was not enough, even the blankets turn cold and fail to keep you warm. All your efforts to make your room warm goes in vain because you don’t want to step out of your bed to turn the heater on or even grab the remote to press the buttons.

    Here we are with some amazing tips and home decor ideas to keep the room warmer and give it a cozy look during winters:

    Start knitting again.

    Not only does it add comfort but also gives you a relaxed feeling. You can make knitted pillow covers, cushion covers, rugs, coffee mug covers and a lot of other stuff to add warmth and coziness. You can make your own knitted or crotcheted rugs or blankets for a soft feel and warm home decor ideas.

    knitted winter furnishings
    overhead lighting

    Take a look at the lights.

    While putting up overhead lighting, make sure the light spreads to all corners of the room and reveals the carpets and blankets under it. A yellow light brightens up the room and warms it up too. Try using table or bedside lamps with orange or yellow shades of light to relax while you finish your favorite book and a cup of coffee.

    Make some space for leather…

    A touch of leather can transform the mood of the entire room. An armchair in a corner or a cozy couch beside the fireplace or a leather table runner can bring the charm. Book covers made of leather can be used to give your study a tepid feel and is one of the wonderful home decor ideas.

    leather furnishings and accessories
    blankets and comforters

    Keep the tone down a bit!

    Indulge in warm shades of the color palette instead of the usual black and grey tones. Blankets and comforters in burgundies, mahoganies, browns, chocolates induce a feeling of warmth. Blankets with a soft texture, furry feeling, and cool tones help you keep warmer and comfier in winters.

    Into the woods?

    While looking for a luxury apartment, also look for wooden floors. Team it up with lighter shades of furniture to enhance the organic look. To lift the warming effect you can also use cherry-chocolate or mocha laminate lamps or pillow covers of the same shade.

    wooden flooring
    wall decor

    What color do you want to choose?

    Those who are thinking of painting their walls yellow or orange or brick red, please rethink. There are colors and there are hues of each color. Warm colors are told to increase adrenaline release & higher the breathing rate. It raises body temperature and keeps you warm. Pair-painting warm hues with few splashes of bright colors can keep the room feel warm & give it a chic look at the same time.

    Getting cold feet?

    Rugs and carpets are the best methods to keep your apartment warm. Keeping room physically warm is as necessary as setting it up for a warmer look and feel with accessories and paint. Use high pile rugs to perceive the heat and keep your feet warm. If you want to use low pile rugs, it is a good idea to mix and match them and creating layers. So bring down your heating costs and use lighter shades of rugs to enhance that wooden floor.

    rugs and carpets

    Some more home decor ideas for freezing winters:

    • Avoid sleeping next to the window
    • Use a portable space heater
    • Reverse the rotation of the ceiling fan
    • Tuck yourself in bed with warmer bedding
    • Light up candles
    • Start a fire in the fireplace (if you have one)
    • Use heavy curtains
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    Unexpected Ways Luxury Apartments in Kolkata Can Change Your Life

    Jan 09, 2018

    Moving into an apartment can be amazing. It is the new convention and more practical approach. Most of us live in a nuclear family as opposed to olden times when there used to be joint families in India and particularly Bengal. Although owning a house has its own benefits, there are some drawbacks as well. These are solved by community-building activities through apartments. Lifestyle gets better when you live in luxury apartments in Kolkata.

    Here are 5 ways how luxury apartments in Kolkata can make your life better.

    Emergency, education and entertainment: Easy access to all

    Apartments in Kolkata located on the outskirts are sometimes too far from the main city, hence making it difficult to access schools, hospitals or shopping centres. Recently developed real estate projects are located in close proximity to well-known schools and hospitals. They are well connected to the nearest airport as well as the main city. You can now count on being as close to the action as possible. Not anymore do you have to worry about the schooling of your child or where to get the best medical help during an emergency while moving into a luxury apartment of choice?

    Aesthetic pleasure with modern amenities

    You will find many real estate properties in Kolkata that offer modern amenities but lack the aesthetic approach. How would you feel if you could sit in the garden and enjoy fresh air staring at a fountain to forget all the stress at work? Luxury apartments in Kolkata allow you to avail the modern amenities with a touch of art that subtly fills your senses and rejuvenates your mood after a long day.

    Landscaped luxury apartments in Kolkata

    With the rising pollution levels amidst proper Kolkata, it is not only wise but also healthy to look for a new home. A home where you no longer have to shut the windows due to dust or smoke coming in from the automobiles. A home where you can still hear the tweet of the early birds. A home where cool breeze runs through your hair. A playground where children play football on the ground and not just in the cell phone games.

    Leave troubles behind and be ready to move in

    Building your own house with latest facilities is not only a tedious job but also more expensive. You can get desirable features built right in with furnished units and handed over to you before you are ready to move in. This saves time researching for minor stuff like, which bath accessory will suit your needs, what design the balcony should be or which ceiling light will be soothing for the bedroom.

    Luxury is incomplete without latest amenities

    We hardly take the trouble of building our own Gym or a swimming pool in the vicinity of our house. The thought of apartments in Kolkata with such facilities can hardly even be possible due to lack of ample space. On buying luxury apartments in Kolkata, you can enjoy gymnasium with modern machines, play area for children, jogging area, beautifully landscaped gardens, auditoriums, lounges, and banquets. These are even close to the supermarkets or shopping malls.

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    How An Apartment In Kolkata Be Best Suited For Raising Your Child?

    Dec 14, 2017

    Having a family brings in extra responsibilities and more so when you have children. You may be living in a rented property until your priorities change after you decide to a family. A rented apartment in Kolkata could no longer be an option if you want to secure their life. Hence, you must take the decision of buying or building an abode. Now, you may ask us that between buying an apartment and building a home on a landed property, which is better

    Let us affix a yardstick for the comparison to be made. One must purchase or build a home that is best for children. So, you could take the right decision if you know whether an apartment would better serve the needs of your children or a home built on a plot of land.

    The Benefits of Raising your child in an apartment in Kolkata

    Behind every decision, there should be robust reasons to back it.

    • Security: Apartments are highly secured enclosures. Modern builders prioritize users’ requisites more than anything else. They never forget to bring the housing enclave within the ambit of security surveillance. Most advanced security surveillance systems are installed in the housing enclaves.
    • Children’s Playing Area: We know how difficult it is to find an open space for children in an apartment in Kolkata where they can express themselves freely with the help of silly games, interaction with the fellow children of the same age, animated conversations etc. Housing enclaves include either landscaped gardens or a separate playing area for children. Safe playing arenas for your child, is there any bigger reward that you could so easily get like by just booking a 2 BHK or a 3 BHK flat for sale and just that?
    • Company of Fellow Children: They easily gel in with the wards of your neighbours. In these days, most of the families are nuclear. So, we do not expect that the children of our relations would grow under the same roof. The society that we form along with our fellow neighbours is priceless. We should share it with our children also.
    • Time-Saving: As your children need not have to venture outside the apartment enclave to reach the gym or the swimming pool, it saves their time. Most of the housing enclaves include these facilities.
    • Minimising the Wastage of Energy: The life of children has turned quite busy. There are the swimming, yoga and physical education classes after the hectic hours spent in schools. When a gym, a swimming pool and a meditation hall themselves come in your front, there is no need to face the traffic and reach the respective classes. It will save energy to be repurposed in some more fruitful activity.
    • Offering a Community Feeling: Children will never suffer from loneliness as, within a housing enclave, the neighbours become a big family. It helps to offer a community feeling harbouring security
    • Options to Participate in Community Events: Mostly, the housing societies organize community events like local festivals, Republic and Independence Day of India. Some even arrange cultural events. These things help to make your children more dynamic.

    As with most of the big metros in India, top real estate builders in Kolkata and the likes are developing high-end and medium budget housing projects which cater to the requirements of buyers. They take particular care for the needs of the buyers with families. Thus, if you are deciding to own a real estate property while planning a family, you should buy an apartment.

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    Top Trends in the World of Real Estate Properties in Kolkata

    Nov 10, 2017

    Over the last few years, there has been a rapid change in the world of real estate properties in Kolkata. New trends followed the old ones and they are leaving a great impact on the industry. How are the current builders adapting to the new environment? How are the consumers reacting to the new trends? Let us find out the answers.

    New Trends in the World of Real Estate Properties In Kolkata

    Trends tend to change and the world of real estate is not an exception. So, which are the trendiest things in the real estate properties in Kolkata? Take a look at the below-mentioned points.

    • Smart Cities: The Smart City concept adopted by the Government of India is one of the most influential trends in the market. Planned sectors with complete civic amenities offer a variety of opportunities for the builders for constructing buildings. The 2 Smart Cities of Newtown and Rajarhat are giving shapes to the aspirations of buyers.
    • Sustainable Development of Buildings: The builders of Kolkata do not shy away from fulfilling their collective responsibility towards the environment. They are building housing enclaves having landscaped gardens and water bodies. Most of the top real estate builders in Kolkata are constructing buildings after taking requisite clearance certificates from the local municipalities.
    • Affordable Housing: Builders are sharing the goals set by the Government and building affordable apartments at good locations. As the Government of India has undertaken the programme of Housing for All by 2022, our builders are also leaving no stone unturned and keeping the prices of 2 BHK and 3 BHK flats for sale at lower prices. This is providing a great opportunity to the young professionals who are now investing in real estate properties from an early age.
    • Rising Popularity of Flats: Contrary to the earlier craze for standalone flats or individual homes, nowadays the buyers in Kolkata are giving more value on accommodations built within the precincts of housing enclaves. Given the trend, the builders are including a higher number of amenities, providing complete security of the settlement and giving personal spaces to the owners.
    • Corporate Social Responsibility: Many reputed builders in Kolkata are fulfilling their corporate social responsibilities with pride. For example, ‘Realtech Nirman Pvt. Ltd.’ is organizing ‘Realtech Real Puja Parikrama’ which is a noble endeavour. Herein, around 1000 senior citizens are taken for a trip across the famous ‘Durga Puja’ pandals throughout Kolkata. Still, around 8000 senior citizens took the benefits of these joy trips for a long 8 years.

    The times are changing and the scenarios at the market are becoming better for the buyers. The time is absolutely perfect for doing further investments in the market and exploring the benefits of latest trends. Invest after gathering all requisite information and get the best deals on the market.


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