Designer Lighting ideas for Your Dream Home

Your home is the sweet heaven for you where you come after a long day of hard work to spend some quality time with your lovely family.

However, you can make your home more relaxing and mesmerizing by playing with the different lighting options. By using designer lighting options in your home, you can create a luxurious home that you won’t ever want to leave.

So, if you want to tweak with the lighting of your home, then we some designer lighting ideas for your home which will completely turn out the appearance of your dream home.

        Use High Eye-Catchy Ceiling Lights

You can add bold ceiling lighting fixtures to attract the attention upwards and create more open space. The large hanging lights can create an illuminating and dramatic effect in your home and they will trick the eyes into believing that space is much larger.

But, it doesn’t mean that you should ignore the other lighting fixtures of the room because ceiling lights can brighten up the entire space only when they supported by other lighting sources. Single lighting won’t bring the right brightness to your home.

     Use Scones and Overhead Lighting

When you are selecting the lighting for your washroom, then you can use scones and overhead lighting options. This will be a very good designer lighting idea for your home washrooms or room with small space as overhead lighting with scones will bring natural lighting to your place.

This will create the open and inviting look as bright lights will make the place look smaller.

 Pick a Perfect Lampshade

The lampshades aren’t only decorative accents, they are a major source of lighting as well. So, you have to put some thoughts into selecting the right lampshade at your home.

The lighter lampshades will create a darker environment whereas darker shades will make the room bright and shiny. You need to make sure your lighting goals before selecting the lampshades.

Plus, you have to consider the area of your room before picking the lampshades as these days different types of lampshades are available.

     Think About the Intensity of the Lights

You have to think about the intensity of lighting fixtures before purchasing them. Like, if you are looking for the lights for your study room, then you should use blue lights as they suppress the melatonin which promotes sleep.

This way you can work activity. However, if you are looking for the soft and cozy lighting for your bedroom, then you can use incandescent light bulbs as they are lower on the Kelvin scale.

     Use Task Lighting

When choosing light fixtures, it's important to not only consider the overall brightness in the room but also to think about the areas of your home where you'll need focused light for a task, like reading at a desk.

You should add task lighting in the kitchen counter where you are going to perform the task of chopping or cooking. By putting the lighting under the kitchen cabinets, you will be able to see better while working in the kitchen.

You can design your home in multiple different ways by tweaking with the various designer lighting options. You just have to pick the perfect designer lighting ideas for your home and you will be able to bring the right ambiance to your space.

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UP-RERA to Auction Unsold Flats of Defaulting Builders to Refund Buyers

In a major relief to lakhs of aggrieved buyers who are forced to wait for possession of their homes for years, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has decided to auction unsold flats of defaulting builders to pay back investors seeking refund in delayed housing projects.

While RERA benches have taken several steps against defaulting builders across the country, this is perhaps the first time that such a move has been announced in India under the new real estate law.

Officials said UP-RERA will soon float a portal for the global e-auction of unsold properties of cash-strapped builders who have been issued recovery notes. A recovery note is a notice sent by Rera that seeks a refund of money owed by homebuyers.

“When a buyer approaches UP-RERA to seek a refund on their investment, we issue an order for a refund and the district administration is sent a recovery note to collect the money from the defaulting builder. But because most of the builders are cash-strapped, the notes are not honoured,” Balwinder Kumar, member of UP-RERA, told TOI.

“None of the 660 recovery notes sent to the builders through the district administration in Gautam Budh Nagar has been honoured by the defaulters. So, we have now decided to auction unsold inventories of such builders to return the money to the aggrieved buyers stuck in delayed projects, should they want it back,” he added. With this move, all builders against whom buyers have moved UP-RERA stand to lose their unsold inventory for refunding buyers who want to exit the delayed projects.

“There are two kinds of refunds — one where a builder has not been able to deliver the flat and the buyer wants to exit the project. The other one is where the builder has promised penalties for delay but has not paid any late fine to buyers. In both the cases, the money accrued from the auction will be used,” Kumar said.

Homebuyers have welcomed the decision by UP-RERA. “This would prove hugely beneficial for such buyers who do not want to stay invested in a delayed project,” said Abhishek Kumar, president, Noida Extension Flat Owners Welfare Association (Nefowa).

However, lawyer Kumar Mihir said, “Though UP-RERA has full authority to initiate such an auction, the auction of these unsold flats will only be successful if the reserved price is lower than the market price listed by the builder.”

“Secondly, the auction method can destabilise the market prices of apartments in the vicinity and the builders may object to this order. The reserve price can only be set after UP-RERA appoints a valuer for these unsold inventories. Anyway, the auction will not affect banks as banks fund full projects and buyers get bank loans for individual units.”

Ref by - https://realty.economictimes.indiatimes.com/news/regulatory/up-rera-to-auction-unsold-flats-of-defaulting-builders-to-refund-buyers/71211024

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Over 80 CWG flats to be sold by DDA to PSUs at lower rates

NEW DELHI: With Delhi Development Authority (DDA) unable to sell 84 flats at Commonwealth Games Village, government bodies and PSUs will now be able to purchase them at concessional rates.

In a meeting chaired by lieutenant governor Anil Baijal, the authority on Tuesday approved 20% concession on the current rate of Rs 2.8 lakh per square metre for disposal of 84 CWG flats to government bodies, PSUs and central/state corporations.

"The revised rate for the flats is Rs 2.2 lakh per square metre for 2019-20. In addition to this reserved price, the conversion charges of Rs 1,130 per square metre and cost of two car parking lots of Rs 7 lakh per car parking are also chargeable," he said.

DDA has been unable to sell these flats in earlier auctions held in 2012 and 2015 due to high reserve price. The flats were originally built to accommodate foreign athletes arriving in Delhi for 2010 Commonwealth Games.

A proposal to auction plots for socio-cultural and religious purposes instead of direct allotment was also made.

The maximum size of the plot will be 1,000 square metres for the socio-cultural category, while it is 400 square metre for the religious category.

Ref. By - https://realty.economictimes.indiatimes.com/news/industry/over-80-cwg-flats-to-be-sold-by-dda-to-psus-at-lower-rates/71185077

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Government announces steps to boost housing, facilitate homebuyers

The government on Saturday announced a Rs 10,000 crore special window to provide last-mile funding for completion of ongoing housing projects which are not NPAs or facing bankruptcy proceedings under NCLT.

Announcing the measure, Finance Minister Nirmala Sitharaman said the government will contribute Rs 10,000 crore for the special window and roughly the same amount is expected from outside investors. This window will help in completion of affordable and middle income housing projects. The fund will be managed by professionals, the Minister added.

Sitharaman also said the interest rate on housing building advance will be lowered and linked to the 10-year G-sec yields. “Government servants contribute to a major component of demand for houses. This will encourage more government servants to buy new houses,” she said.

External commercial borrowing (ECB) guidelines will also be relaxed to help housing developers obtain overseas funds. ECB guidelines will be relaxed to facilitate financing of homebuyers who are eligible under Pradhan Mantri Awas Yojna, in consultation with the central bank.

Source By - https://www.thehindubusinessline.com/news/real-estate/government-announces-steps-to-boost-housing-facilitate-homebuyers/article29416835.ece

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These 7 Pointers Can Make the Affordable Housing Dream a Reality

Large-scale affordable housing in cities is the greatest necessity of urban India today. Because Indian cities have such a severe shortfall on this front, we are seeing the proliferation of slums and unorganized real estate. These are detrimental to planned growth of our cities. Large-scale urban developments - the only way to create affordable housing in the required magnitude in our major cities - are becoming increasingly difficult due to lack of land parcels, congested transit routes, lack of finance, rising input costs and regulatory hurdles. On analysing the bottlenecks that currently hold affordable housing in India to ransom, it emerges that any approach towards a workable solution will have to encompass at least seven important functions. These are:

1. Formulate guidelines for identifying right beneficiaries:
It is important to formulate guidelines that will identify the appropriate beneficiaries for affordable housing projects. This is critical, as the involvement of speculative investors in such projects defeats to whole purpose. The National Population Register and issuance of unique identities via the Unique Identification Authority of India will become crucial elements in identifying the right beneficiaries if they are linked with income levels.

2. Innovate on micro-mortgage financing mechanisms to ensure a larger reach:
Effective financing through micro-mortgages by utilising the reach of self-help groups (SHGs) and other innovative financing mechanisms can ensure that housing finance is available to large sections of lower income groups (LIG) and economically weaker sections (EWS). Flexible payment mechanisms should be put into place, as households in low-income groups typically have variable income flows.

3. Incentivise developers to enter affordable housing segment:
Urban local bodies can develop guidelines by giving free sale areas, extra floor space index (FSI) and other policy-level incentives to real estate developers, thereby attracting them to develop affordable housing. Schemes for redevelopment and slum rehabilitation should be developed with incentives that generate sufficient returns for the developers, while simultaneously controlling the development density. A cost-benefit analysis of regulations should be carried out from a development perspective to ensure that schemes to facilitate affordable housing development are actually realistic and feasible.

4. Streamline land records to improve planning and utilisation of land:
Adequate availability of land for housing and infrastructure can be ensured by computerisation of land records, use of geographical information systems, efficient dispute redressal mechanisms and implementation of master plans. The central government and some state governments have already begun work on this front, but there is still a lack of required pace.

5. Include mass housing zones in city master plans:
Additionally, ensure that these zones are developed within a pre-determined schedule, accounting for the future requirement of affordable housing. Some cities have already dedicated zones for development of affordable housing in their master plans. This needs to be replicated in other cities and towns - with a sharp focus on development timelines.

6. Deploy well-researched rental housing schemes in urban areas:
Authorities like the Mumbai Metropolitan Region Development Authority (MMRDA) have experimented with rental housing schemes in the past. However, these have not been very successful as a proper framework for such schemes was missing. The most visible limitations were that development of rental housing took place in far-flung areas which are not suitable for affordable housing, and the lack viable means to identify the right end-users.

7. Formulate policies for greater participation from private sector:
The private sector can play a big role in affordable housing, most notably in terms of providing technological solutions, project financing and delivery. Disruptive innovations on these fronts, with a specific focus on affordable housing, are the need of the hour. We need imaginative, workable solutions to reduce the costs of construction in the face of rising input costs. As construction costs account for a significant portion of the selling price of affordable housing units, savings accrued on the back of such innovations can immensely benefit the occupier. It bears mentioning that none of these solutions will work well in isolation. Given the complexity of the affordable housing conundrum in India, only a multi-pronged approach with equal weightage given to each element can hope to break the deadlock. The Housing for All by 2022 is indeed a workable vision if a determined and focused effort based on these solutions is employed - and it will definitely yield the desired results.

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Important Legal Documents That Home Buyers Should be Aware of Before Buying a Property

Buying real estate property can be an expensive affair and it is next to impossible to buy a house without financial assistance. It is therefore necessary to take precautions and ensure that the hard earned money invested into such property is not only safe but secured to the fullest extent. This highlights the need for a proper due diligence. Also, a purchaser needs to be aware of the following the basic legal documents before purchasing an immovable property:

1. Original Title Documents
The title documents means the flow of title devolution from one owner to another and culminating with the current owner/ seller who is selling the property. In case the original title documents are not with the seller, then there are chances that the title documents are deposited with the banks/ financial institution for the purpose of creation of mortgage and the same also needs to be verified by the purchaser.

2. Search Report
The title search report is usually issued by the search clerk after conducting searches in the offices of the concerned sub-registrar of assurances, to verify the entries on record in relation to the subject property, and by virtue of that, one can trace of the flow/ devolution of title as mentioned aforesaid. Additionally, the search clerk also reports, as to whether there is any Lis Pendens (pending litigation) notice registered with the office of concerned sub-registrar of assurances.

3. Title Certificate
Title Certificate is issued by an Advocate based on the Title Search Report and the title documents verified by the Advocate in respect of the subject property. The Advocate should ideally also search in the concerned Courts as to whether any litigation is pending in relation to the subject property. Such a certificate should also cover the claims, if any received, in response to the public notice issued in the local newspapers, to be published, one in English and other in the Regional language.

4. No Due Certificate
No Due Certificate is issued by banks/ financial institution after repayment of the loan and clearance of charge/ mortgage by the banks/ financial institution, so as to rule out any claims by the Banks and to assure that the subject property is free from encumbrance.

5. Sanctioned Layout Plans
It means the layout plans of the structure, which has been duly sanctioned/ approved by the concerned competent authority including the municipal corporation. In case the subject structure is not in terms of the sanctioned layout plans, then it is not advisable to purchase such property, since it is a clear indication of violation of the sanctioned layout plans and applicable laws.

6. Occupation Certificate
The occupation certificate is issued by the corporation, certifying that the subject property/ structures constructed upto relevant floors of the building, can be occupied by the purchaser. This indicates that the developer/ erstwhile owner/ seller has constructed the structure in terms of the sanctioned layout plans and has also complied with various other building norms and obligations.

7. Bills and Receipts
Latest Property Tax bills, Electricity bills, maintenance bills together with the paid receipts should be verified, since the same clarifies about the arrears, if any, in relation to the subject property.

8. For Purchase of Land
In case of purchase of land, in addition to some of the above mentioned documents, one must also verify
(i) 7/12 Extracts: This document indicates the name of the owner, name of the person having other rights such as, lessee/ mortgagee, the area admeasurements and cultivation in the land, and/ or
(ii) Mutation Entries: This document records entries regarding devolution of title in relation to the subject property.

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GST on real estate: Effective GST rate on under-construction real estate at 12%

The GST Council had in May decided to levy 12 per cent GST on construction of a complex, building, civil structure or intended for sale to a buyer, wholly or partly.

The effective GST rate on under- construction real estate projects will be 12 per cent only and not 18 per cent as there will be abatement for land cost, according to tax consultant EY.

Realtors' body CREDAI President Jaxay Shah also said that the effective GST rate would remain at 12 per cent and assured that as per the law, the developers would pass on the benefits of input tax credit to home buyers.

On Thursday, the government hiked the GST rate for the construction sector to 18 per cent from 12 per cent but removed land value from computation of tax liability.

The GST Council had in May decided to levy 12 per cent GST on construction of a complex, building, civil structure or intended for sale to a buyer, wholly or partly.

Earlier, the value of land was to be included in the amount on which tax was to be calculated.

"There is some confusion in the industry that GST on under-construction projects has been fixed by the government at 18 per cent instead of the 12 per cent proposed earlier by the GST Council.

"This confusion is mis-placed as there is an abatement of one-third for the value of land when you apply the rate of 18 per cent; which makes the effective GST rate 12 per cent only," said Abhishek Jain, Tax Partner, EY.

When contacted, CREDAI President Jaxay Shah also said that the effective GST rate will remain 12 per cent on under- construction properties.

Asked whether builders will pass on the input tax credit to home buyers, he said: "As per law, we will return input tax credit to buyers".

As on today, home buyers have to pay 15 per cent service tax on 30 per cent of the total cost of the apartment, which is effectively 4.5 per cent.

NAREDCO President Parveen Jain said the effective rate will be 12 per cent after the abatement for land value.

Earlier this month, NAREDCO had written to the Prime Minister seeking lower GST of 6 per cent on sale of under- construction property from 12 per cent as higher tax will lead to price rise and affect sales.

It had also sought exemption from Goods and Services Tax (GST), to be rolled out from July 1, to affordable housing which has gained momentum after getting infrastructure status and interest subsidy.

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Haryana Govt Working to Benefit all Private Builders

A senior official in the DTCP, which was of the subjects of Aggarwal’s ire in the assembly, said the MLA has not been able to substantiate his allegations because there is no wrongdoing.

Umesh Aggarwal, Gurugram’s BJP MLA, on Wednesday defended his line accusing the Manohar Lal Khattar regime of tweaking affordable housing rules to favour real estate companies, a day after he criticised his own government in the assembly on the issue.

“The Gurugram master plan is being changed to benefit private builders,” he told TOI. “The area for affordable housing projects is being increased from 300 acres to 500 acres to suit their (realtors’) needs,” he added. Asked if he was referring to a particular builder, Aggarwal said the government was working to benefit “all private builders”. He did not, however, elaborate.

A senior official in the department of town and country planning (DTCP), which was of the subjects of Aggarwal’s ire, in the assembly, said the MLA has not been able to substantiate his allegations because there is no wrongdoing. “To begin with, the affordable housing policy the MLA is referring to was prepared by the Congress government in 2013,” said this official. “During the previous government, 42 licences were issued and the present government has issued 25, of which 6 are delayed. Before the policy was passed, the draft was put in the public domain. In anticipation that the policy will be approved, some builder had prepared a draft beforehand,” the official added, referring to another charge made by Aggarwal in the assembly.

“I wonder how builders can prepare the draft ahead of finalisation of the policy,” Aggarwal had said on the floor of the House on Tuesday. “Complaints lodged by me are still pending at various levels. Neither the previous government, nor this one has ordered any probe to ascertain the shortcomings. They (builders) have been given licences instead.”

Asked about the “lapses” finance minister Captain Abhimanyu had acknowledged while replying to Aggarwal, another DTCP official said he was referring to the necessity for a course correction. “As per the policy, in every sector where land is available, 10 acres will be used for affordable housing projects,” the official explained. “The minimum land requirement is 5 acres. So far, the first-come-first-served’ principle was being followed to issue licences to builders. But there were objections and it has been decided that instead of this, a lottery system will be introduced.”

He added, “This is the lapse which the finance minister was referring to. There are otherwise no lapses in the issuance of licences for affordable housing.” he said. The finance minister could not be reached for a comment.

Source - http://realty.economictimes.indiatimes.com/news/residential/haryana-govt-working-to-benefit-all-private-builders-bjp-mla/57548072

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