What makes A House The Luxurious House?

                    “The sky is not the limit, the limit is your vision”

Owning a luxurious house it’s like dream come for most of people. Enjoying all the comforts of the world in your home. In India the word “Luxury” is often being used every other project in real estate is names as “Luxurious project”, even though they basic facilities. Following things defines that makes Luxurious House apart from common the normal house.

Location

It is one of the key factors. Should be near the heart of the city or some tourist spot. The connectivity across the city should be excellent. The traffic should be minimal.

Space

The space plays an important in the any part of luxury house. For a property to be luxurious it should have at least four rooms with attach bathrooms, and balconies. A large hall and dining room even the kitchen should be expansive with all the built-in amenities like chimney, microwave, oven, etc.

Floor-to-ceiling

The floor to ceiling should be at least 12 feet. Even if house meets all the other specification but not this it will not be considered as ‘Luxury House’. The more the height the more the feeling of openness. The floor should be Italian marble or have wooden flooring.

Home techs

The House should be equipped with centralized air-conditioning. Smart home technologies are in high demand these days, technologies that monitor and manage systems inside and outside the house. Whether it is locking the doors or controlling the thermostat, variable-speed air conditioning, appliances, music, and lights, one can look after their home from anywhere in the world using smartphones.

Security

The need for security is increasing day by day in India. The demand for installation of security within the house is also rising. Besides human security in the form of round-the-clock security personnel, electronic surveillance units should be installed in each and every corner of the property.

The above-mentioned points are some of the features for a luxury house. Thus next time when you go searching for a luxury property, you should keep the above points in mind lest you might end up getting duped and lose your hard earned money.

Nowadays, demand for luxury houses is rising and developers are incorporating interesting technological innovations into their projects in order to attract a niche set of clients. Hence, the market for such luxury houses will only grow and get bigger in future.

Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India

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Infrastructure Development in India

One of the key driver of the Indian economy is infrastructure. Infrastructure is the one of the India’s most propelling and privileged sectors for economic development. This not only holds the major attention from the local government authorities but also have intense focus from Central government that have made several schemes for reforming the Indian infrastructure to a world-class developed infrastructure.

Infrastructure is not just limited to the Urban Development but also to the construction of dams, bridges, power, land parts etc.

According to the World Bank logistics performance index of 2016, India ranked 35th among the 163 countries performing a whooping jump of 19 steps in just 5 years.

Now talking about the market size of infrastructure India received 24.87 billion US dollars from April 2000 to June 2018 for construction development sector (housing, township, construction development projects and built up infrastructure) as foreign direct investment. This data was accumulated and estimated by the department of industrial policy and promotion. The Indian logistics sector is expected to reach at 215 billion US dollars by the year 2019 to 2020 as seeing the growth of 10% annually in the sector.

I like various other developed countries Indians also started getting attention from International investors for infrastructure space and expected to get an investment of worth Rupees 80 trillion by the end of 2025. However as per the government statutory bodies in the particular field of infrastructure estimates that India may require a network of around 50 Billion Rupees by the end of 2022 to maintain its sustainable development. Funky notable investments that are likely to be done are like listed below

The Asia infrastructure Development Bank announced in June 2018 that it would be investing in National investment and infrastructure fund where the investment may be up to 200 billion US dollars.

The investments made by private equity and venture capital investment made a mark up to 3.4 billion US dollars by the first half of 2018, in infrastructure in real estate.

There were 91 MN day deals made in 2017 witnessed by Indian infrastructure sector of earth around 5.4 billion US dollars.

Indian government is also taking various initiatives it is expected that it will invest highly in the infrastructure development especially in the role of public convenience like, construction of roads, construction of bridges, special routes, artificial beauty bodies etc.

There were also various other initiatives and policies made that were notable in the union budget of 2018 to 2019 presented by the government of India in the parliament. Some of those announcements made as listed below.

  1. Allocating a huge sum of 5.97 lakh crore to the infrastructure sector giving it a massive push.
  2. The Smart City system may also receive a whooping sum of 2.05 lakh crore for its development.
  3. Lavish cut of 1.48 trillion rupees was made by the Railways which also made it one of the highest invested infrastructural sector

The government is also making plans to get in bed with various Japanese infrastructural companies in order to improve the infrastructure criteria and get an outsourced knowledge from one of the owners and infrastructure development. This upset goes to various other and projected development such as creating and Highway of 50,000 km and also the aspect for the bullet train

Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India

Housing for All | “Sabke liye Ghar”

In the year 2017 for better regulation in the real estate industry, a series of reforms were made like for ensuring transparency in real estate sector RERA was introduced which made the developers to disclose their timelines for their building process. The other massive change was introducing the GST bill in the real estate sector which aimed to reform the tax structure by making it more uniform. But none of them were as impactful as Government’s Housing for All scheme. This will make it easier for the weaker section of the societies to acquire safe loans and invest in making their homes.

Pradhan Mantri Awas Yojana (PMAY) is an initiative by the government under the Prime Minister Narendra Modi under which housing will be provided to urban poor with a target of building 20 million houses by 31st March 2022. Under PMAY, it is planned to build 2 crore houses for urban poor including Economically Weaker Sections (EWS) and Low Income Groups (LIG) in urban areas by the year 2022 through a financial assistance of ₹2 trillion (US$30 billion) from central government.

It has two components:

  1. Pradhan Mantri Awas Yojana (Urban) (PMAY-U) which will target the urban poor.
  2. Pradhan Mantri Awas Yojana (Gramin) (PMAY-G) which will target the rural poor.

 

The feature of Pradhan Mantri Awas Yojana is that the government will provide an interest subsidy of 6.5% on housing loans availed by the beneficiaries for a period of 20 years under credit link subsidy scheme(CLSS) from the start of a loan. This scheme will comprise of other schemes that ensure that every house will have a toilet, electricity connection, LPG gas connection, drinking water accessibility, and many more. The houses under PMAY would be constructed through a technology that is eco-friendly and preference will be given to an older person and differently abled person for the allotment of the ground floor.

 

This scheme is comprised of three phases:

Phase 1 – (April 2015 to March 2017) to cover 100 cities.

Phase 2 – (April 2017 to March 2019) to cover additional 200 cities.

Phase 3 – (April 2019 to March 2022) to cover remaining cities.

 

Private contributors such IIFL home loans have been helping the beneficiaries to avail government subsidies. ICICI bank also giving subsidies to the eligible people for the scheme. AU Housing Finance Limited has also been giving subsidies under the scheme.

 

Conditions for PMAY:

  1. Maximum age limit is 70 years.
  2. Economically Weaker Sections (EWS) annual income should be less than 3 lakh
    Low Income Groups (LIG) annual income between 3 lakh – 6 lakh.
  3. The beneficiary should not have any dwelling unit on the name of any family members in any part of India.

Under this scheme, the houses will be owned by females or jointly by the males. This will help to increase the women empowerment in India.

Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India