Under-construction vs. ready homes: Take your pick

Under-construction vs. ready homes: Take your pick

We have compiled a list of advantages and disadvantages of both, thus allowing you to make a well-informed decision

  Adilemma that often overwhelms homebuyers is choosing between a ready-to-move-in (RTMI) home or an under-construction one.  Therefore, let us spell out the advantages and disadvantages of each option so that you can make an informed decision during your homebuying process.

  Buying a finished project saves you time, but it also means paying a higher price.  Moreover, in the case of RTMI homes, you can check the quality of the final product, which is not possible for a home that is still under construction.

  With under-construction projects, there is greater flexibility in terms of payment as compared to RTMI.  You can pay a token amount, and then easily pay the remaining balance over a longer period until the construction is complete.  Additionally, you have the freedom to personalise the interiors according to your preferences.

  “RTMI properties offer a good value proposition to discerning homebuyers and are least risky.  Not only do they offer instant gratification, but they also do not attract GST.   Under construction properties fall under the purview of GST, levied at five percent of the base cost of a property.  Of course, this does not mean that all RTMI properties are risk-free by default.  The number of illegal constructions or projects with non-sanctioned additional floors now being identified stand mute testimony to that fact,” explains Amit Goenka, CEO, Nisus Finance.

  While earlier there was a difference in pricing (around 10 and 30 percent ) between a ready property and an under-construction property, the gap has begun to simmer down.  “ The gap between ready-to-move-in homes and those still under construction has narrowed down over the years because there was an abundance of unsold homes of under-construction homes are going up due to increased input costs such as land and construction expenses,” mentions Prashanth Thakur, regional director, and head of research Anarock Group.

 What are the key things that a buyer should keep in mind before investing in a home ( irrespective of whether it is a ready home or an under-construction home ) ?  “ Make sure the developer has a good track-record of completing projects on time.  When buying an under-construction home, avoid making a large up-front payment and instead consider construction-linked plans.  If you’re considering a ready-to-move-in property, ensure all the amenities and facilities are up and running.  Check for documents such as the occupancy certificate, title clearance, and other legal requirements.  Lastly, consider your financial situation, family size, and job location, to determine which option suits you best,” says Akash Pharande, managing director of realty firm.

  Manju Yagnik, senior vice president, NAREDCO Maharashtra concludes, “ Invest in a project, which is registered under the Real Estate ( Regulation and Development ) Act (RERA) as it will ensure that the builder follows ethical business practices, making your investment secure.  Secondly, it will reduce the chances of project delays.  Moreover, it will facilitate a speedy resolution of any complaints or issues that may arise during the construction process.”

 

Make Every Inch Of Your Home Count With Multi-Purpose Homes

 Make Every Inch Of Your Home Count With Multi-Purpose Homes

Transform your living environment to live comfortably and efficiently with multifunctional spaces

If you’re dealing with a lack of space at home, multi-purpose homes are the way to go. They provide practical solutions to make the most of limited space while adding your personal touch. With these functional solutions, you can easily create a more spacious and unique style for your home. “Having a multi-purpose space is super important because it means you can use the same area or piece of furniture for multiple things. These kinds of spaces in your house are like chameleons, they can be easily adjusted to fit your everyday life and activities. We believe a room must be both, functional and flexible to meet your needs,” explains Prashant Thakur, regional director, and head of research, Anarock Group.

The pandemic has truly highlighted the importance of multi-purpose spaces and their ability to meet the evolving needs of homeowners. “The demand for multi-purpose spaces in modern homes has seen a significant increase after the pandemic. Many factors have contributed to this trend, particularly the rise of remote work and hybrid work setups. As more people work remotely, there is a growing need for versatile living areas that can easily transition between work and leisure activities. Homeowners are now seeking practical solutions to enhance their property’s functionality and adaptability to create more value-added homes,” affirms Amit Vakharia, VP of projects at a real estate group

How can you create a multi-purpose home?

Akash Pharande, managing director of a real estate firm, shares, “You can use a variety of clever furniture and storage solutions to transform living spaces and adapt them to your changing needs. For instance, you can opt for murphy beds, fold-out wall beds, sleeper sofas, folding tables, and chairs as they can easily convert your living room into a bedroom and vice versa. To customise a room further, you can rely on modular storage units such as cubbies, cabinets, and lofts. These can be arranged in different configurations, giving you the flexibility to fit your specific requirements. Want even more functionality? Consider dual-purpose furniture like tables that double up as desks, ottomans with hidden storage, and benches with seat lids. And to make it even easier to change things up, wheeled cabinets, movable room dividers, and rolling carts are the way to go. With these ideas in mind, you can easily customise your space to fit your ever-evolving lifestyle.”

Designing versatile living areas can be a bit tricky for homeowners, as they often encounter various obstacles along the way. The key here is finding the right balance between different functions. You want the space to not only look great but also be functional and organised. “One important aspect to consider is storage. You need smart storage solutions that can meet your diverse storage needs. Figuring out clever ways to hide easily accessible items can be a challenge, but it’s doable. Additionally, choosing furniture and household items that can serve multiple purposes without compromising on comfort or style can also be a hassle. Lastly, practicality is key. You want to make sure the room is convenient for various purposes. This means carefully planning and thinking about innovative solutions to fully utilise the space,” says Nidhi Aggarwal, founder, of a construction and interior-based company. 

Moreover, it is important to find the perfect balance between style and practicality. Aggarwal mentions, “You can opt for a trendy and cosy sofa bed that seamlessly fits into your living room’s decor. This way, it can easily transform into a comfortable bed to accommodate guests. Additionally, clever storage solutions like built-in cabinets and hidden drawers are great for keeping your space clutter-free while creating a warm and inviting atmosphere. Ultimately, the key to designing a versatile room or space lies in the skilful combination of form and function, ensuring that visual appeal doesn’t compromise usability.”

Creating a welcoming and functional space is all about finding the right colour scheme, lighting, and furniture, and experimenting with creative solutions. Hence, one must enjoy the process.

Aggarwal elaborates, “First, start by creating a cohesive colour scheme that brings the place together. A consistent palette will not only reinforce the desired mood but also visually unify the entire space. Next, think about lighting strategically. Position lights in a way that allows for different atmospheres based on the specific functions of each area. For example, adjustable wall fixtures and ceiling pendants can brighten up work areas, while ambient lighting can bring warmth to resting regions. When selecting furniture, opt for pieces with a simple line and versatile design that match the style of the room. Comfort and utility should be prioritised. Look for furniture that also offers storage options, such as internal shelves or secret compartments, to help keep the place organised and free from clutter. Lastly, don’t hesitate to experiment with adjustable furniture like folding screens and sliding partitions. These additions can easily modify the space as needed, while still maintaining a sense of harmony throughout."

These Are The Top Seven Trends Reshaping The Realty Market

 

These Are The Top Seven Trends Reshaping The Realty Market 

New Year calls for resolutions, and the real estate market is not an exception to it. Here are seven key aspects that the real estate sector is looking forward to in 2024

1. Sustainability at the fore

When it comes to construction techniques, ‘sustainability’ will be an important focus point not just in terms of design, but also in areas such as prefab, precast, and modular works. There is now a lot more conscious effort towards sustainability.

2. Open and large spaces

The idea is to build spaces that blurs the inside and the outside spaces has become very popular among homebuyers. Balconies, for instance, are no longer expected to be small spaces but a room for entertainment and activities. Moreover, balconies are no longer a luxury but a necessity for most homebuyers.

3. Lifestyles

In terms of design, lifestyle is generally not taken into consideration. For instance, a laundry room in a house is often attached to the kitchen, which ideally is a mismatch and should be separate but is not, evidently because there is not much thought given to lifestyles. That said, design is about understanding and detailing keeping in mind the lifestyle.

4. Community living

There is also a lack of community living in larger gated communities. Nowadays, it is not surprising if you do not know your neighbours. As the saying goes, “It takes a village to bring up a child…” and that is truly what a community does. So, the focus should largely be on community living spaces and the pandemic has brought this even more to the fore.

5. Windows

A huge trend is seen in windows moving away from the traditional wooden to aluminium and uPVC, largely because the wood in today’s market is not fully matured. This is going to be the biggest change in the windows market in India. Also, glass plays a large role in terms of keeping the heat and radiation out and lamination is being used for security and for insulating the noise from outside.

6. Building technology

In the past few years, there has been a lot of advancement in building technology. Developers are increasingly turning their attention towards technologies such as precast, prefab, and light gauge steel construction, which require a lot less labour. In the context of a city, considering the noise, water pollution, etc, developers are now looking for techniques that are much faster to build and this will play a major role going forward.

7. Landscaping 

Lawns are losing their popularity as they are difficult to maintain. The trend is to opt for more comfortable spaces. Also, the landscape is not just about being green, but about visual satisfaction and physical use. It is no longer sufficient to have a great view of a garden that is beautiful; homeowners now want to use the space as well. In the earlier years, while the landscape was about plants and grass and water fountains, today, it is more activity-oriented where one can do yoga, exercise, walk, or simply sit and read the newspaper. The landscape is like the extension of the balcony in an apartment. There are also a lot of covered decks that are incredibly in trend. In fact, in some homes, the deck areas comprise almost 30 per cent of the house because they are more activity-oriented areas, and hence, more usable landscapes. Also, the conservation of water is another point due to which the landscape has shifted from gardening to other activities. For individual homes, there are now small sewage treatment plants (STPs) being developed that use soil water for irrigation and large collection tanks that help collect rainwater for use. Here again, it brings to the fore the sense of sustainable living.

How is technology empowering homebuyers?

 How is technology empowering homebuyers? 

From improving convenience to encouraging healthy living and more, here’s how the real estate sector is embracing technology to benefit end-users 

The real estate industry is witnessing a great era of evolution, with many technological advancements pushing forward its growth.  Through the season of auspicious purchases and at a time when the property market is more dynamic than ever before new developments in technology are ensuring that the sector stays in tune with the changing times.  The benefits are trickling down to homebuyers, who now enjoy added ease during their buying journey, among several other perks.  With that said, we review how technology is transforming the property sector and adding buyers.

A seamless buying experience 

The industry has experienced a transformation in recent years driven by the emergence of property technology or proptech.  Ram Naik, director of a real estate advisory, explains, “Proptech has redefined how properties are bought and sold and enhanced convenience for buyers.  Through online platforms and mobile applications, buyers can easily search for properties, access virtual tours, analyse property data, and even conduct virtual transactions.  These advancements streamline processes, reduce paperwork, and facilitate faster and more transparent transactions, ultimately saving buyers valuable time and effort.”

    However, the impact extends beyond convenience.  “It addresses long-standing challenges related to paperwork and digitalising documents to ensure error-free real estate transactions.  This expedites property deals and minimises the potential for miscommunication,” comments Naik.  Proptech is empowering buyers with a seamless experience, comprehensive property information, and immersive virtual tours, enabling the sector to make significant strides in delivering a user-friendly and efficient property-buying journey.

    One way proptech platforms are facilitating this is by offering a fully interactive environment that mimics the real world.  Tanuj Shori, founder and CEO of a growing proptech platform, mentions, “Interactive digital twins of the cities will transform the way consumers interact and transact for their real estate needs.”  This allows users to explore properties on the digital twin of an entire city, visualise the neighborhoods in a 3D built environment and walk in as an avatar interacting within a collaborative metaverse-like marketplace.

Green innovations  

Technology is also emerging as a powerful catalyst for environmental transformation and enabling developers to incorporate green building practices.  Latest innovations allow developers to design eco-friendly structures by simulating energy performance and enabling informed decisions on climate-resilient structures, energy-efficient materials, and renewable energy integration.

         Rajjath Goel, managing director of a real estate development company, adds, “Devising strategies to build green real estate and eco-friendly projects is the concretisation of the commitment made by the real estate sector to cut down its carbon foot-print, check pollution quantification, and adapt to the changing times.  Green construction technology, pollution-free raw materials, and use of solar energy are some of the resourceful measures the real estate sector takes to assure holistic development without undermining environmental well-being.

         Furthermore, the adoption of Internet of Things (IoT) sensors and data analytics will help monitor and optimise energy usage, water consumption, and waste management in real time, leading to significant resource savings.  These advancements not only contribute to environmental preservation but also enhance the quality of life for occupants by fostering healthier residential communities.

The rise of blockchain 

Streamlining information through technology is central to the advancement of the property sector.  Dr Yashpal Yadav, director of a leading real estate development company, shares, “Technology has given homebuyers access to a cornucopia of information.  This has not only helped spread consumer awareness but also empowered them to make informed decisions about the plethora of real estate products and services available in the market.”  Taking this progress to its next level, blockchain has offered new possibilities for simplifying property transactions.

        Maharashtra began using blockchain technology last year to help record e-registration data for new properties which can be accessed by developers, buyers, government, financial institutions, and other relevant stakeholders.  Essentially, blockchain promises a tamper-proof and permanent record of property ownership and transaction history.  This enhanced transparency mitigates disputes, simplifies title searches, and expedites the due diligence process for buyers, instilling greater trust in the real estate market.  However, the variations in rules and regulations and the large number of government authorities involved in real estate transactions may pose a challenge for blockchain to operate without hindrance in India.

      While technology is enabling vast advancements in the property sector, buyers must ensure that they’re protecting their data online, verifying the legitimacy of digital information and conducting physical inspections of their shortlisted properties. 

நிலங்களுக்கான கூட்டு பட்டாவில் தொடரும் குழப்பங்களுக்கு தீர்வு எப்போது?

 நிலங்களுக்கான கூட்டு பட்டாவில் தொடரும் குழப்பங்களுக்கு தீர்வு எப்போது?

நில பரிவர்த்தனையில் பட்டா மிக முக்கிய ஆவணமாக உள்ளது என்றால், அதில் கூட்டு பட்டாவின் முக்கியத்துவம் மிக அதிகமாக உள்ளது. நில அளவையின் போது, உட்பிரிவு செய்யப்படாமல் ஒன்றுக்கு மேற்பட்ட நபர்களின் பெயரில் உள்ள நிலங்களுக்கு கூட்டுப் பட்டா வழங்கப்படுகிறது.

ஒரு குறிப்பிட்ட சர்வே எண் இருக்கும். அதற்கு உட்பட்ட நிலம், 10 பேருக்கு உரிமையுள்ளதாக இருக்கும். ஆனால் அந்த நிலம் தனித்தனி பாகங்களாக பங்கிடப்பட்டு இருக்காது.இதில் பெரும்பாலும் குடும்ப உறுப்பினர்களுக்கு வழங்கப்படும் நிலங்களுக்கு கூட்டுப் பட்டா தான் பெறப்படுகிறது.

இவ்வாறு கூட்டு பட்டா பெற்றவர்கள் தொடர்ந்து அதன்படியே பயன்படுத்தி வருகின்றனர். இத்தகைய சொத்துக்களை வெளியார் வாங்குவதாக இருந்தாலும், கூட்டுப் பட்டா நடைமுறை தொடர்கிறது. அதாவது, கூட்டுப் பட்டாவில் யார் விற்கிறார் என்று பார்த்து அவர் பெயர் நீக்கப்பட்டு, புதிதாக வாங்கிய நபரின் பெயர் சேர்க்கப்படும்.

விவசாய நிலமாக இருந்தவரை கூட்டுப் பட்டா நடைமுறையின் பயன்பாட்டில் சிக்கல் இருந்திருக்காது. ஆனால், குடியிருப்பு பயன்பாட்டுக்காக நிலங்கள் பாகங்களாக பிரிக்கப்பட்ட நிலையில் கூட்டுப் பட்டா தொடரும் போது சிக்கல் எழுகிறது.

குறிப்பாக, ஒரு ஏக்கர் நிலம் பல்வேறு மனைகளாக பிரிக்கப்படும் போது, சாலைக்கு இடம் ஒதுக்க வேண்டும்.

இதற்கான நிலம், சம்பந்தப்பட்ட உள்ளாட்சி அமைப்பிடம் ஒப்படைக்கப்பட வேண்டும். அந்த நிலம் உள்ளாட்சியின் பெயருக்கு தான பத்திரம் வாயிலாக கொடுக்கப்பட்டு, பட்டாவில் மாற்றம் செய்யப்பட வேண்டும்.

ஆனால், பல இடங்களில் நில ஒப்படைப்பு நடக்கும், பட்டாவில் மாற்றம் இருக்காது.இதனால், புதிதாக அதில் ஏதாவது பாகத்தை விற்பனை செய்யும் போது, பத்திர அளவுகளுக்கும், பட்டா அளவுகளுக்கு இடையே குழப்பம் ஏற்படும்.

கூட்டுப் பட்டா சொத்துக்களில் உள்ள நிலங்களை பிரிக்கும் போது யாருக்கு எவ்வளவு என்பதை அதில் தனித்தனியாக குறிப்பிட்டால் பிரச்னைக்கு தீர்வு ஏற்படும். இப்பிரச்னையில் சட்ட ரீதியாக எழும் சிக்கல்களை தவிர்ப்பதற்கான நடவடிக்கைகளை நில அளவை மற்றும் வருவாய் துறை துவக்கி உள்ளது.

நிலங்களை விற்பனைக்கு முன்பே உட்பிரிவு செய்வதை கட்டாயப்படுத்தும் கட்டுப்பாடுகள் வரவுள்ளன. இதன் வாயிலாக கூட்டுப் பட்டா சிக்கல்களுக்கு தீர்வு ஏற்படும் என்கின்றனர் வருவாய் துறை அதிகாரிகள்.

Is interior designing on a budget possible?

 Is interior designing on a budget possible?

Tight on budget but still wish to have a wonderful home interior? Here are some suggestions for you

Interior design plays a pivotal role in creating spaces that are not only affordable but also functional and aesthetically pleasing. This article explores interior design trends tailored to affordable housing projects, focusing on cost-effective materials, space-saving solutions, and community-centric designs that are redefining the concept of affordable homeownership.

Embracing cost-effective materials

Designers are increasingly turning to cost-effective materials that offer both durability and aesthetic appeal.

One such material is engineered wood, which closely resembles traditional hardwood but comes at a fraction of the cost. Engineered wood is a sustainable choice and can be used for flooring, cabinetry, and wall cladding.

Furthermore, laminate countertops are gaining popularity as a budget-friendly alternative to expensive stone or solid surface options. These laminates mimic the look of natural materials and are easy to clean and maintain, making them ideal for kitchens and bathrooms. Additionally, designers are exploring creative uses of reclaimed materials. Salvaged wood, repurposed metals, and second-hand furniture items can add character to affordable homes while minimising costs. Not only do these materials save money, but they also contribute to a sustainable, eco-friendly approach to interior design.

Maximising space with clever design solutions

In smaller living spaces, making every square foot count is essential. Removing walls between the kitchen, dining area, and living room can create a sense of spaciousness and improve the flow of natural light. Multipurpose furniture, such as sofa beds, fold-out desks, and wall-mounted dining tables, maximises functionality without sacrificing aesthetics. Built-in storage, under-bed drawers, and vertical shelving help keep clutter at bay and make small spaces feel more organised. Sliding doors or room dividers save space compared to traditional hinged doors while adding a modern touch to interiors. Furthermore, a minimalist design approach can make small spaces appear larger and less cluttered.

Utilising vertical space with indoor gardens not only adds greenery but also maximises the use of available space in a budget-conscious manner. Mirrors strategically placed on walls can reflect light and create the illusion of more space.

These space-saving solutions not only make affordable homes more functional but also contribute to a visually appealing and comfortable living environment.

Conclusion

Affordable housing innovations in interior design are making homeownership more attainable and enjoyable for a wider range of individuals and families. By embracing cost-effective materials, optimising space through clever design solutions, and prioritising community-centric designs, designers are helping to create affordable housing solutions that are not just places to live but places to thrive. Affordable housing is no longer about sacrificing comfort or style; it's about reimagining what's possible in the realm of affordable and sustainable living spaces.

These areas are poised for growth in 2024

 These areas are poised for growth in 2024

In 2023, Chennai’s real estate witnessed a rollercoaster ride with a few highs and a few lows.  In this New Year, the real estate market is expected to see a surge in demand, especially in the following markets.

Areas poised for growth in 2024

Tambaram

A residential locality in southern Chennai has a rich history and is one of the bustling areas of Chennai.  “It is located around 24 kms from the city centre and is well connected to other parts of Chennai via road and rail networks.  The upcoming new airport at Parandur will boost real estate growth in Tambaram due to it’s strategic location.  Also, it’s easy accessibility to major city expressways like Chennai-Bengaluru Expressway and Chennai-Salem Expressway will pave the way for significant real estate development.  It’s diverse economic landscape is further enhanced by industrial and logistic parks, automobile industry hubs, research centres, medical colleges, and even cold storage factories, making it a highly desirable residential zone.

Navalur-Kelambakkam 

The Navalur-Kelambakkam micro market has also made waves because of the rising demand.  “The micro market is well connected via OMR, the IT corridor of Chennai.  The area thus receives excellent demand for housing from IT employees.  Upcoming Metro Corridor Three connecting Madhavaram to Siruseri would further accentuate the real estate developments and ease connectivity.  Existing as well as upcoming commercial supply in the Navalur and Siruseri areas is expected to create good demand for housing.  The area consist of projects from well-known developers with a good mix of affordable and premium projects.  Approx. 5000 units were under various stages of construction between 2021 and 2023.”

Old Mahabalipuram Road (OMR) 

The IT Expressway connects OMR with various locations in Chennai and surrounding areas.  Recent infrastructure developments include Phase 2 of Chennai Metro Rail linking Madhavaram to SIPCOT.  “The road project will also connect four national highways (NH5, NH205, NH4, NH45) and eight state highways to ensure smooth connectivity.  The OMR runs parallel to the East Coast Road (ECR) and provides convenient travel options beyond the city limits.  Apart from unmatched connectivity, OMR offers an excellent social infrastructure for a comfortable life, with schools, universities, hospitals, banks, ATMs, and restaurants along the corridor.  Several infrastructure projects are currently underway to reduce traffic congestion, improve water supplies and sanitation systems, and increase green space.  Access to tourist attractions and theme parks is also a big draw for apartment seekers in the city.  Property price in the area ranges from Rs 9,000 to Rs 12,000 per sq ft”.

YOU NEWLY LAUNCHED SUPPLY (IN UNITS)
Micro Market	Year 2022	Year 2023
Pallikaranai	129	2702
Manapakkam	134	2252
Sholinganallur	464	1583

Oragadam 

The area is known as one of the promising industrial areas in Chennai “Oragadam has a diverse and promising real estate market due to its presence in several industries, such as automobiles and research and development.  It’s proximity to the Chennai-Bengaluru highway, excellent connectivity to the city centre, and location between NH 45 and NH 43 make Oragadam an excellent location for business.  Numerous renewed real estate companies offers townships, clusters and villa communities in the region.  A variety of trends, such as multi-living, serviced apartments, and preleased apartments, provide tenants with a quality living experience and high rental yields”. 

Pallavaram Thoraipakkam Road 

The area is considered as one of the emerging locations for real estate.  “The proximity to two growth corridors viz. OMR and GST has accentuated the investments in the region.  Further, a few of the upcoming infrastructure such as Metro Corridor five, and the widening of PTR, would aid the development potential in the region.  Upcoming commercial supply of approx. 3.6 mn sq ft would create good demand for housing.  The area boasts projects by well-known developers with a good mix of upper-mid to premium projects.  Approx. 4,200 units were under various stages of construction between 2021 and 2023.

Pallikaranai, Manapakkam and Sholinganallur 

The three areas are bound to witness growth in the coming year and the number of launches is proof of the same.  “As per Anarock Research, these three localities remained most vibrant and witnessed the highest new supply in 2023.  The three areas saw a total new supply of nearly 6,537 units between January and December period in 2023 in the wake of growing demand by prospective buyers.  The average price in the three localities remained between Rs 6,497 per sq ft and Rs 7,328 per sq ft.  Going ahead, these markets continue to remain promising in 2024 as well because of their growing demand.

கட்டடங்களில் பால்கனி தோட்டம் அமைப்பதில் கவனிக்க வேண்டிய விஷயங்கள்!

 கட்டடங்களில் பால்கனி தோட்டம் அமைப்பதில் கவனிக்க வேண்டிய விஷயங்கள்!

தனி வீடுகளில் விருப்பப்படி தோட்டம் அமைக்க இடவசதி இருக்கும். ஆனால், அடுக்குமாடி குடியிருப்புகளில் இத்தகைய வசதி இருப்பதில்லை.

இதனால், பெரும்பாலான குடியிருப்புகளில் பால்கனி மற்றும் மொட்டை மாடி பகுதிகளில் தோட்டம் அமைக்கப்படுகிறது.  இவ்வாறு கிடைக்கும் இடத்தை பயன்படுத்தி தோட்டம் அமைப்பது நல்ல நடைமுறை தான்.

இருப்பினும், நடைமுறையில் இதனால் சில பிரச்னைகளும் ஏற்படுகின்றன.  பொதுவாக பால்கனி பகுதிகள், கட்டடத்தின் இருந்து வெளிப்புறமாக நீட்டி அமைக்கப்பட்ட ஸ்லாப்களை நம்பியே இருக்கும்.

இதற்கான கட்டுமானம் எப்படி மேற்கொள்ளப்படுகிறதுஎன்பதை ஆரம்பத்தில் இருதே கவனிக்க வேண்டும்.  கட்டடத்தின் தளம் அமைக்கப்படும் அளவிலேயே பால்கனி பகுதிக்கான ஸ்லாப் இருப்பதை உறுதி செய்ய வேண்டும்.

பொதுவாக பல இடங்களில் தளம் அமைக்கப்படும் போதே பால்கனிக்கான ஸ்லாப்கள் அமைக்கப்படுவதில்லை.  தள பணி முடிந்த பின் தான் பால்கனிக்கான ஸ்லாப்கள் அமைக்கப்படுகின்றன.

வெளிப்புற தோற்றத்துக்கு பால்கனி கட்டடத்துடன் இணைந்து காணப்பட்டாலும், உட்புறத்தில் அது புதிதாக இணைக்கப்பட்டதாகவே காட்சியளிக்கிறது.  இதனால் என்ன ஆகிவிடும் என்றுபலரும் அலட்சியமாக இருக்கின்றனர்.

கட்டடத்தின் தளம் அளவுக்கு பால்கனியும் உறுதியாகஇருக்கும் என்று நினைத்து அதில் தோட்டம் அமைப்பார்கள். இதற்காக, மண் நிரப்பப்பட்ட தொட்டிகள் அதிகமாக அங்கு வைக்கப்படும்.

இது தவிர வேறு சில சுமை பொருட்களும் பால்கனியில் வைக்கப்படுகிறது.  இத்தகைய கூடுதல் சுமைகளை தாங்கும் நிலையில் பால்கனி இருந்தால் பிரச்னை இல்லை.

அதே நேரத்தில், கூடுதல் சுமையை தாங்க முடியாத அளவுக்கு பால்கனி பலவீனமாக இருந்தால், அது விபத்துகளுக்கு வழிவகுத்துவிடும்.  எனவே, உங்கள் வீட்டுக்கான பால்கனி அமைக்கப்படும் போது, அதற்கான ஸ்லாப் தளத்துடன் இணைந்ததாக இருப்பதை உறுதி செய்ய வேண்டும் என்கின்றனர் கட்டுமான வல்லுனர்கள்.

Buying a home for the first time? Don’t forget to claim these benefits

 Buying a home for the first time? Don’t forget to claim these benefits

As a first-time homebuyer, you may qualify for some sweet perks like tax savings, reduced interest rates, and even special discounts from developers. So, keep an eye out  as you might have a chance to save a handsome amount

Purchasing your first home can be pretty overwhelming. But don’t worry, there are a bunch of perks that can make this experience a bit smoother - not to mention easier on your wallet!

Benefits galore:

Under Section 80C, first-time buyers can claim tax benefits of up to Rs 1.5 lakh on the principal repayment of a house loan, but this is applicable only for homes that are completed and owned for at least five years from the date of acquisition; 

Additionally, Sections 80EE and 80EEA provide a tax credit of Rs 50,000 on interest repayment for first-time homebuyers;

You can also get interest deductions of up to Rs two lakh per year under Section 24, provided the home is owned and not rented;

Section 80EEA of the Income Tax Act, 1961, provides an additional deduction on home loan interest for first-time homebuyers of affordable housing. The deduction is limited to a maximum amount of Rs 1.5 lakh per financial year, provided the property value is up to Rs 45 lakh and the loan is sanctioned between specific timeframes. 

“The Real Estate Regulation Act (RERA) ensures transparency and accountability in the real estate sector, thus protecting the interests of buyers by curbing malpractices. The Pradhan Mantri Awas Yojana (PMAY) is aimed at providing “housing for everyone” and benefits first-time home purchasers from lower and middle-income families. The subsidy rates on the principal amount vary based on the buyer’s income, with additional income brackets recently introduced to extend the benefits to a wider segment of the population. Moreover, the housing subsidy GST has been reduced from 12 per cent to eight per cent for residences acquired under PMAY, allowing eligible first-time homeowners to avail of a higher subsidy of up to Rs 2.7 lakh,” informs Pritam Chivukula, vice president, CREDAI-MCHI.

Money matters :

First-time homebuyers can avail of competitive home loan interest rates from top banks and lenders. These rates are generally tailored based on various eligibility criteria. Besides, if you’re a salaried employee, your interest rates could be lowered by 15-20 basis points as compared to those who are self-employed. Akash Pharande, managing director of a real estate firm adds, “Banks occasionally roll out special offers for first-time homebuyers. You might see slight reductions in interest rates or other benefits such as a waiver on processing fees and prepayment charges, among others. However, these offers are usually available during the festive season. So, keep an eye out for these sweet deals.” The interest rates you might end up paying on your home loan depend on several factors which include the size of your loan, the term of the loan, and your credit score. So, keep these factors in mind while planning your finances.

“Bigger loans, longer payback periods, or a weak CIBIL score may attract slightly higher interest rates. Remember, not all banks and financial institutions offer the same rates and terms for their loans. It’s essential to compare offerings from multiple lenders to get the best deal,” says Vickash Choudhary, founder of a real estate firm.

The one mistake that first-time homebuyers often make is that they focus mainly on securing lower interest rates, but they should also consider other terms such as prepayment charges and processing fees while comparing loan offers.

Developers play their part :

Developers often extend special reductions and benefits to attract first-time homebuyers and promote their projects. These benefits can vary depending on the developer’s marketing strategy and the property being offered. Common offers include discounts on the base price of the property, thus making it more affordable for first-time buyers. Some developers may also provide additional incentives such as free furniture or appliances, or free membership to gyms or clubhouses. Additionally, to ease the financial burden on first-time buyers, developers might offer flexible payment plans with staggered payments or lower initial down payment requirements. Developers may offer discounted prices to first-time homebuyers, especially in affordable housing projects. Some developers may waive off additional charges such as floor rise charges, preferred location charges, or clubhouse membership fees to attract first-time buyers. Developers may have tie-ups with specific banks or financial institutions, thus providing special home loan interest rates or processing fee waivers for buyers of their properties. Chivukula cautions, “Prospective homebuyers should thoroughly review all the terms and conditions of such offers before making any decisions to ensure they fully understand the benefits and implications.”