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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
Some more home decor ideas for freezing winters:
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.
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?
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.
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.
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.
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.
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.
Behind every decision, there should be robust reasons to back it.
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.
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.
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.
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.