The happily-ever-after of millennials and smart homes!

The happily-ever-after of millennials and smart homes!

Millennials are people born typically in the period of 1980s to early 2000s. A small calculation shall tell you that most of them are in the stage of life today when buying a home is on the cards. And hence, if the real estate industry is touted to be contributing 13% to the country’s GDP by 2025, millennials will naturally have a big contribution to it. Thus, it is a market everyone is trying to tap. But who really is a millennial and what is he/she looking for? Let’s find out-

1.Convenience savvy-

In a millennial’s head, it is simple- is the house close enough to the office in order to minimize commute? Are all the necessary amenities within a short distance? Can I instruct the house to be ready for me with the right music and lights when I am on my way back? Check! Millennials or Gen Y, as they are called, do not have time and prefer a one-stop-shop kind of a solution for all their needs.

This is where smart homes score. It takes one voice command or one click of a button to do a multitude of things in your house. Imagine a setting in your kitchen eco-system wherein when you say cooking, the platform focus lights are automatically switched on along with the electrical chimney and you pre-programmed cooking playlist is set to repeat. Sounds surreal, doesn’t it?

2.Demands value for money-

Millennials mostly manage to strike a fine balance between the money they spend and the quality they acquire against it. Majority of them don’t overspend on luxury but would much rather look for a sustainable solution that gels well with their lifestyle.

How many times has it happened that you have reached the office and can not remember if you switched the geyser off? Don’t fret, in a smart home, the smart appliances manage themselves with the help of a remote click. Hence, the features of a smart home seem to be in accordance with what millennials look for.

3.Security Conscious-

We are all quite wary of the safety and security of our families and loved ones; millennials all the more because they are the ones who have seen the maximum noise around this subject. And we go out of our way to ensure the safety of all our family members but live with a constant fear of ‘what if?’

With one of the smart security features in a smart home, you can only unlock a door with your fingertips or via code. Also, you can even have motion sensors deployed that give you an idea about movements happening in your areas of concern. The moment the doorbell rings, light flashes at the door and your camera provides you with a live feed of the visitor. Smart security, anyone?

4..Technology Driven-

Please bear in mind that Gen Y is the generation that knew how to play online games before they learned how to play badminton. Hence, the approach to the digital medium and the willingness to transform into an IT hub spot, is outstanding!

Smart homes are the epitome of technology and hence hold a strong attraction towards millennials.

If the lifestyle of a millennial was a huge jigsaw puzzle, the smart homes piece would fit in perfectly in the puzzle. Whether you consider it from a financial perspective or a practical one, smart homes are the obvious choice here. We, at Emaar India, are dedicated to catering to our users’ needs and we had identified this market segment and the related product considerably earlier. There is a brand-new concept ready to catch your eye! Visit: http://comingsoon.emaar-india.com

The new GST rule for home buyers- A refreshing breather

Real estate sector had recently become the antithesis of the power sector in India in terms of the supply-demand dynamic. With fewer takers to the excess supply, there was a thud needed to wake the investors up. And a thud it is! In a recent and pathbreaking decision by the GST council, the GST rates on real estate have been slashed.

Here are some quick takeaways-

What is the change in rates?

Real estate projects in India, post the introduction of “Pradhan Mantri Aawas Yojana”, divide themselves into two types Premium/non-affordable and affordable. The new policy cuts down the GST on the former from 12% to 5% and from 8% to 1% for the latter. While the earlier GST rates were inclusive of input tax credit (ITC), the new rates are not and will come into effect from 1st April 2019.

ITC is a form of subsidy provided to the builders by the Government on the raw materials used for construction, like steel, cement etc. The same credit is supposed to be passed on to the buyers at the time of selling of the flats by subsidising the property rates. Now, with the new GST rate, the ambiguity of passing on the ITC remains diluted.

What are my benefits?

For starters, you are going to pay less! Isn’t that good news? Also, this step mandates the builders to procure materials majorly from the GST-registered dealers only which also reduces the amount of “only cash” transactions involved in some cases.

The GST council also took it upon itself to re-define affordable housing in terms of both area and price. The new definition of an affordable house is “any flat costing up to Rs 45 Lakh and measuring 60 sq. Metres in a metro city and 90 sq. Metres in a non-metro city carpet area”, as quoted by the GST Council Meet last month. This clears the air around affordable housing significantly and might leave you with more options to choose from.

Since GST does not apply to projects that have obtained their CC (completion certificates), buyers would initially tend to wait for the completion of the project. This might see a shift in attitude now that the GST for under-construction properties has been slashed.

 

This decision could not have been announced at a better time when new trends like smart homes, micro markets, NRI investments etc. are on the rise. Also, the affordability of middle-class metro residents seems to be seeing an upward trend. The GST rate cut has hit the iron while it was hot. We, at Emaar India, are very optimistic about the effect this decision will have on the real estate market. Exciting times ahead!

Sources:

https://realty.economictimes.indiatimes.com/news/industry/gst-rate-cut-expected-to-give-realty-stocks-a-big-booster/68145234

https://www.business-standard.com/article/economy-policy/homes-to-get-cheaper-as-gst-on-under-construction-properties-slashed-to-5-119022400673_1.html

RIGHT FINANCIAL CHECKS BEFORE YOU THINK OF INVESTING

Right Financial Checks To Start Thinking Of Investing

Financial investment is one of the most important things that you can do to secure your future. It is always a good idea to start investing as early as you can, and to do so as comprehensively and intelligently as possible.

Here are a few things to keep in mind if you’re planning to start investing soon:

1.Start with a financial roadmap:

One of the best ways to begin your investment journey is with a financial roadmap. List out all your financial goals, like buying a home, car, education, travel, etc. and suggested strategies to save for each of these goals.

 

2. Assess your appetite for risk:

Risk tolerance is an essential component of financial investment. Every kind of growth-oriented investment entails some risk, but can be highly rewarding when done correctly.

 

3.Evaluate your comfort zone:

Each one of us has a different comfort zone at various points in our personal finance journey. Evaluating your basic expenses and saving goals will help you get a sense of your comfort zone. You shouldn’t attempt to stray too from this zone making your investments.

 

4.Diversify your investments:

A diverse investment portfolio is the key to successful returns. If you’re investing in mutual funds, for instance, make sure to pick a variety of funds that you can distribute your wealth across. On the other hand, real estate is a stable and rewarding form of financial investment.

 

5. Pay off your high-interest debts:

Before you embark on your investment journey, make sure to pay off as many high-interest loans as you can, for instance, credit card debts, student loans, car loans, etc.

 

6. Create an emergency fund:

Prioritize the creation of an emergency fund, if you don’t already have one. Before you start redirecting money for investment purposes, make sure to save up at least 3 to 6 months of living expenses to serve as an emergency fund.

 

7.Invest with reputed companies:

A great way to get your money to earn more money is by investing it with reputed companies. Whether it’s mutual funds or real estate, reputed companies are sure to perform well and fetch you handsome returns on investment.

 

The key to financial investment is to invest in something that will steadily appreciate over time. Investing in real estate is one of the best things that you can do to secure your future and enrich your lifestyle.

 

Looking to invest in a residential property in Mohali? Emaar India presents Mohali Hills, a landmark project with residential plots in Mohali.

3 Benefits of Investing in Lucknow Real Estate

What was once counted among Tier-II cities in India, has grown by leaps and bounds in recent years. Lucknow, the city of Nawabs, is no longer just the epicenter of heritage and the foodies’ den; in fact, it’s now witnessing massive IT and infrastructural developments. Needless to say, now makes for the perfect time to invest in its real estate, owing to the master plan that’s all set to give it an image overhaul. Let’s dig deeper into what makes Lucknow an irresistible investment hotspot:


#1: Master Plan 2021

Master-Plan-2021 With an aim to bring about 197 neighboring villages into the fold of the overhaul plan, the Town and Country Planning division is all set to meet the housing demand and convenience facilities to the increasing population. It is estimated that by 2031, the needs of about 65 lakh residents will be met in the form of commercial avenues and residential projects in Lucknow. This makes for the ideal time to invest in a property in the city, and reap compelling ROI in the near future.


#2: Commercial developments

Commercial-developments

Areas like Faizabad Road, Raebareli Road, and Sultanpur are some of the many locations that are set to be given a makeover as the new commercial districts in the city. This, in turn, will push prices and values of properties and make way for newer residential developments. What’s more, Lucknow also takes pride in its emergence as a prominent medical hub with multi-specialty hospitals like Medanta and Narayana Hrudalaya Aarogyam located in proximity to Gomti Nagar, a prime business district.


#3: 105-km Outer Ring Road

105-km-Outer-Ring-Road

It is thanks to the growing needs of dwellers that the government recently decided to answer to their commuting woes in the form of a 105-km outer ring road. The project, set to complete before 2021, will cover a whopping 65 fringe villages, and streamline the traffic in the already burgeoning



Do what is right

Home loans, undoubtedly, can realize your dreams but knowing how they work is the surest way to avoid tiff and lenders. So before you apply for one, here are a few DOs and DON’Ts we would like you to remember and protect your dream from turning into a nightmare.

Go for a pre-approved loan
Remove chances of last minute rejection of your home loan, because of what banks often refer to as a “minor technical aspect” that can leave you with no other choice other than switching to a private bank offering loan at a higher rate of interest. So it is always advisable to get a pre-approved loan if you are planning to buy a property in the near future. Not only will you get better rates but a sure and timely loan too. And you won’t miss the bus when you have finally found your dream home. Please note that a pre-approved loan is usually valid up to 6 months.

Read and understand the terms and conditions carefully
Even if it is a bulky document, read it thoroughly to avoid feeling cheated or fooled later. Sometimes lenders may nod to certain points but in the end only what’s on the paper is taken into consideration. So, don’t expect the company representative to educate you. Almost everything you want to know is easily available on the internet. Talk to your friends, spend some time online and do get acquainted with terms like EMI, fixed vs. floating rate, fault, BPLR, etc. This will help you in making an informed decision while buying a property or at least it will help you make a nice impression whenever the topic pops up.

‘Fixed’ may not actually mean fixed
If you have ever been in a loan conversation with a bank before, you must have heard the terms fixed rates and floating rates. Theoretically, fixed means the interest rate will remain constant for the entire duration of the loan. But always remember that fixed is never really fixed and only when you read the terms carefully, you will realize that the bank reserves the right to change the rate of interest after a fixed time period or in a given situation. So while you can’t really do anything about it, we suggest you keep some money aside (whenever you fix the EMI) for such surprises and spare yourself those sleepless nights.

Compare to get a fair deal
If those customer care guys have been bugging you too with lucrative deals, you will know that there’s a lot of variation in the rates being offered by different banks. But don’t just get caught up with the rate of interest. Loan period, processing fee, security cover clause and free insurance etc. should also be taken into consideration. So, do compare and negotiate and you will definitely get the best deal available.

No leap of faith
What we mean is never ever overstretch yourself financially or get overoptimistic about cutting down your expenses while applying for a loan. The bank will evaluate your creditworthiness but you need to be realistic at the same time. Make sure that your EMI is not exceeding 40% of your salary. Don’t exhaust all your savings and keep aside an amount for increase in EMI or other emergencies.

Being forewarned is being forearmed, so keep the above in mind and get the best deal for yourself.

 

beginner’s luck

Have you just joined the league of proud homeowners or about to make your very first home purchase? Finally your luck knocks your door as the Union Budget 2017-18 brings great cheers for the first time home buyers.
Now you must be pondering upon in what way is the government providing relief to the newbies of the home buying process. The relief comes in the forms of lowered interest rates, making it more palatable or more acceptable for those who are starting out to carve their dreams. The prime focus has been on the income slabs and subsidies that have been laid down in the guidelines, in accordance with the same.

If you come under the annual income slab of INR 12 lakh and INR 18 lakh, then there’s something to be really happy about. For starters, those earning up to INR 12 lakh annually will get an interest subsidy of 4% on a principal amount of INR 9 lakh, and 3% on a principal amount of INR 12 lakh for those earning up to INR 18 lakh per annum. However, if your income is below the slab of INR 6 lakh per annum, you’ll be the recipient of 6.5% subsidy on a principal amount of INR 6 lakh that too, irrespective of the total loan amount!

Let’s simplify this. For example, if you have borrowed INR 20 lakh for buying a house at 9% per annum. You only have to pay 2.5% interest on INR 6 lakh and on INR 14 lakh, you have to pay 9% interest. People under all the three categories, as mentioned , will enjoy a benefit of INR 2.4 lakh (assuming an interest rate of 9% per annum) according to the Prime Minister’s Pradhan Mantri Awas Yojana.

This is the first time that the spotlight is on the middle-income groups and the policies are being crafted keeping them in the center. Affordable housing has become an important sector, and the new scheme is a game changer as per experts. Even the banking professionals and financial experts are in agreement, and would also tell you that the residential projects are now more affordable as the EMIs have fallen.

Finally it is the right time for the home buyers to go for that long awaited leap to buy their very own dream home. Cheers to all the beginners!

 

A Good Bet

The National Highway Authority of India (NHAI) has granted National Highway status to the Dwarka Expressway. Once completed, it should become an alternative route between Delhi and Gurugram, and is expected to reduce traffic load on the Delhi Gurgaon Expressway (NH-8). While, at one end towards Delhi, the Expressway connects with Dwarka subcity, the other end towards Gurugram is open to the Kherki Dhaula toll on the Delhi-Jaipur Highway. Once complete, it will take 20 minutes to reach the IGI Airport (T3) from Sector 37C or D. Furthermore, in the near future, the Kherki Dhaula toll plaza would be shifted towards Manesar, further down the point where it exists now, according to plan. This will further decongest the traffic at this point and will connect the Northern Peripheral Road (NPR) directly with the forthcoming Southern Peripheral Road (SPR).

Municipal Corporation of Gurugram has allocated 40 acres land for development of the city’s first medical college in Basai Dhankot village near Sector 102, Dwarka Expressway. With Basai rail over bridge (ROB) opening to public, traffic on the Delhi-Gurgaon Expressway will be decongested, which will boost demand for the area further. Moreover, with feasibility studies underway by DMRC, metro connectivity to the region will soon be realized. On 5th May 2017 in NDTV property show Mr. Yashapal Yadav, Chief Administrator Haryana Development Authority confirmed completion of Dwarka Expressway by end of 2017.

This is indeed a positive momentum for Gurugram’s real estate market, as National Highway (NH) status will boost infrastructure development of the area and will attract more investments in the new Gurugram. Furthermore, the Expressway promises great potential due to its proximity with the International Airport (T3), NH-8 and Southern Peripheral Road (SPR).

 

GST and you

If you are looking for your perfect dream home, now is the best time to buy one and live life king sized. GST (Goods and Services Tax) puts an end to a complicated tax system containing multiple tedious steps, and gives you benefits, which earlier were not there. Here are some eye-opening reasons how GST will benefit a home buyer. So, if you’re someone who is planning to buy a new home for yourself or just a property to invest in, GST will bring in more transparency in taxation, of course! The prices, henceforth, are likely to drop by 1 to 3 %, according to research experts.

There is no doubt that the erstwhile tax system, a complicated and tiresome process of never ending calculations, which made all of us scream for help! Service Tax, VAT, Stamp Duty, Registration Charges, and this didn’t end here, each of them had different figures as per state laws. Consult the ones who bought their homes before the implementation of the bill, and you’ll come to know of the enormous insanity that went around the process. But now, tough times are over! GST charges for all under-construction properties is fixed at 12% . One fixed tax amount, and zero indirect taxes on ready-to-move-in properties.

Earlier, VAT and Service Tax used to account for nearly 9% of the ticket price of the property. Since that will be lower than the GST applied to the sector, the developer will have to pass on the benefit of the price reduction to the buyer; making it an anti-profiteering provision. As much the GST takes the property developers into consideration, it equally provides relief to consumers, making a meticulous process of selling and purchase much quicker and less painstaking.

Consider the post-GST era to be the perfect time to get your hands on your dream home. If you’ve been planning to hunt and buy one, then do away with the hesitations and doubts. Welcome to a simpler world, welcome to GST.