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Rent vs Buy : Should you buy a new home or just keep renting in 2017? [Infographic]

The common question that the first time home buyer poses is should he buy his own or stay on rent? The choice between buying a new home and keep renting is always among the biggest financial decisions an individual make. To help you answer this question, here we simplify which is a better deal.

For the years, becoming a house owner has been an essential part of an individual dream. Most of the young professions at the age of 20’s and early 30’s wish to have their own house now. So, it is very clear that owing a home is usually a smart decision, particularly when you are going to stay in an area nearby workplace. But it has everything to do with your own financial situation. Sometimes, buying a new home is the smart thing to do; other times, it really isn’t. Whether or not it’s smart for you will depend on a few different factors. Let us understand this through infographics taking you to the real situation and decide which one is ideal.

Meet Pallavi and Rishi who are on two different life paths but they keep same fate for real estate segment. Pallavi decides to stay with parents, so that she can buy own home. She thinks, It might take a couple of years. On the other hand, Rishi thinks that the process of buying home is tedious affair, so, I will keep renting. After five years Pallavi checks her financial situation and the true cost of HOME OWNERSHIP at happykyes and estimated her buying capability through Rent Vs. Buy Calculator….

rent vs buy should you buy a new home-or just keep renting in 2017
rent vs buy

 

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The 2016 Real Estate Market: A Year In Review [Infographic]

As 2016 winds up, it’s time to review the developments that took place through the year.

Undoubtedly, the year 2016 has been remarkable for the Indian real estate. The year will be remembered as the year of implementation of new laws and policy changes. The year also exposed the reality of real estate, where judicial intervention has not only underlined their aberrations, possession delays and defaults but also given a ray of hope to dejected home buyers. Several new laws and decisions announced during 2016, are likely to put great impact on the Indian real estate sector ahead. Happykeys will constantly examine how these policies will affect the property market in the short-term and long-term and what it means for home buyers.

 

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Year 2017 likely to be a trendsetter for real estate

Year 2017 likely to be a trendsetter for real estate

The Indian real estate market may become attractive at the onset of New Year. Happykeys takes a stock of developments and factors that will influence the real estate market this year.

As 2016 winds up, it’s time to review the developments that took place through the year. Undoubtedly, 2016 has been a remarkable year as far as India’s urban infrastructure is concerned. Hence, Indian real estate has many positives to look forward to.

Here is a report on how Indian real estate segment is expected to perform in 2017.

Demand Factors:

According to the Ministry of Statistics and Programme Implementation report the population rise in county is on a steady rise. With this rising population, there will be steep rise in housing demand also. The absorption of high number of housing units, itself depicts the picture of New Year that the occupancy rate is going to be high in 2017.

In a report by real estate consultancy firm JLL, in the last four quarters the property prices in Mumbai and Chennai improved by 3.7 per cent and 1.7 per cent respectively while the DELHI –NCR property market have remained stagnated. Market experts believe that this situation is anticipated to improve in New Year based on record of series of new launches and ease in property buying process due to government new laws and decisions.

Mr-Prashant-Tiwari-Chairman_Prateek-GroupAccording to Prashant Tiwari, Chairman Prateek Group, “The changes in real estate market have already started happening with measures like not increasing base rates, implementation of Real Estate (Regulation & Development) Act, relaxes in FDI norms and exemption of service tax on construction of affordable houses up to 60 square meters. Benami transaction act, infrastructural developments and many other proposals lying in pipeline will eventually take the realty market towards improvements and progressions in coming year. Therefore outlook for the next year 2017 is very much positive. We are optimistic that real estate sector will witness a changed environment with improved customer sentiments and enhanced growth“.

 

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Deepak Kapoor, President, CREDAI Western UP observes that, “There is growing positivity in the real estate sector that can now hope for a new phase of growth. The government has taken various steps to ensure that an atmosphere of growth and development is created for real estate sector. Moreover, the economic status of our country is also improving which will further boost the demand for properties. Considering the developments and changes which are taking place in the realty sector currently, property market is expected to much improve in 2017. “.

 

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According to Akshay Taneja, MD of TDI Infratech Ltd, “2017 will definitely be a good year for real estate sector. Year 2017 will help real estate sector in a big way as many positive changes have already taken place in the current year. These include reduction in interest rates, interest subsidy to home buyers, increased loan portfolios, increased and ease FDI in real estate & construction sector, implementation and introduction of real estate regulatory authority and GST bill etc. “.

 

 

Government Initiatives

A series of new decisions and laws promise to bring good days ahead to the Indian real estate market. The respective state governments has also taken several initiatives to encourage the developments in the real estate segment. Here is the list of some of the major government initiatives that will boost the morale and confidence of home buyers.

  • The Cabinet Committee on Economic Affairs (CCEA) has approved various measures to revive construction sector
  • The central government has brought Real Estate (RERA) act, 2016 on May 1, 2016, which is aimed at making necessary operational rules and protecting the interests of home buyers
  • New exit policy: With the enforcement of new exit policy, builders can complete their ongoing projects nearing completion and give possession of flats on time
  • Model Shop Establishment Act: The rule will give freedom to retail outlets to keep open 24×7. This act will promote investment in commercial sector. Investors can look in the commercial space as in the near future prices may go up
  • REIT rule relaxation for small investors.
Top 5 localities in Ghaziabad for real estate investment

Top 5 localities in Ghaziabad for real estate investment

Ghaziabad has been at the center of real estate activities in the NCR circuit owing to its strategic infrastructure and property price tag. Happykeys does a comparative analysis of top 5 residential destinations to help prospective home buyers to make an informed decision.

Here are the top most choices in terms of livability index, locality, connectivity, civic infrastructure and property prices.

#1. Indirapuram:

Indirapuram has emerged as the most expensive residential locality of Ghaziabad as per the Price Tracker Report by Happykeys.com. Undoubtedly, this locality is planned and more organised as compared to other residential localities. This locality offers multiple choice of multi-storied apartments and posh buildings. Average property cost recorded here in the last quarter was to the tune of Rs 5,300 per sq ft. The housing demand here is driven by working professionals who prefer living here due to smooth connectivity with Noida and Delhi. Presently, metro connectivity is up to its neighboring Vaishali but it has been stretched to Indirapuram linking the area with Greater Noida, Noida city centre and Rajiv Chowk. This is likely to be operational in 2017. The locality houses eight shopping malls.

#2. Raj Nagar Extension:

Raj Nagar Extension in Ghaziabad is fast emerging as a budget locality hub in Delhi-NCR, with thousands of families already moving in as the social infrastructure continues to improve. “In the last three years, Raj Nagar Extension has shifted its focus from being an affordable housing zone to premium lifestyle township offering everything — from residential apartments, schools, healthcare centres to shopping malls. This transformation has been noticed by investors and end users. It must be noted that the property value appreciation is comparatively highest here as compared to other regions” says Gaurav Gupta, general secretary, CREDAI Raj Nagar Extension.

#3. Crossing Republik:

Crossing Republik is situated next to Indirapuram and is considered a key micro-market of the NCR. The localities here have become well established residential hubs that have drawn the attention of buyer and investors interest. According to Bipin Chandra, a resident of Republik, “Crossing Republik is established and more developed residential area as it is one  of the first planned township in Delhi NCR developed in 2006”. A two bedroom apartment in the area ranges between Rs 42 – 59 lakh. A three bedroom home will cost upwards of Rs 60 lakh.

#4. Vaishali:

Another expensive locality in Ghaziabad is Vaishali which commands an average property rate of Rs. 6,000 per sq ft approximately. The real estate market here has been luring new home buyers and investors with ample options promising high ROI in future. The localities lying along the metro corridor have already registered steep rise in their capital values. Property rates and rental values are increasing due to its proximity to Indirapuram, Noida and Greater Noida.

#5. Kaushambi:

The USP of this locality is its connectivity via the Delhi metro, which extends to Ghaziabad and Anand Vihar. The two national highways – NH-24 and NH-58 pass through this locality. Kaushambi offers good mix of residential societies, malls and multiplexes promising a good life and transportation facilities. The prices of apartments are, however,  comparatively affordable as 1BHK apartments cost around Rs 15 lakh, two bedroom homes come at around Rs 60-65 lakh and 3 BHKs are priced upwards of Rs 1.1 crore.

Sachin Verma from DPR infrastructure explains that localities in this area were once old developments and also considered distant from Delhi. Developed and upcoming infrastructure has clearly demarcated the old areas from new ones. In the last few years these localities have seen tremendous growth in terms of real estate. These localities are now greener, safer and more organised than other locations of NCR circuits.

Due to its proximity to Delhi and connectivity advantages, these localities have emerged as key real estate destination in NCR,” says Mohit Srivastava, a real estate broker.

5 Vastu tips to design Pooja room

5 Vastu tips to design Pooja room in your home

Pooja or prayer room is an important place in home that is full of positive energies and vibes all the time you move in. No matter what is the state of your mind or mood, getting into this space rejuvenates and connects you a positive rays coming out of the space. The observance of pooja is not only a rituals to appease gods and goddess but it is paving the way for spiritual path that ultimately leads to inner form of contemplation and spiritual evolution. This holy space of your home is also used as a place for meditation that takes your mind at zero refreshes you with lot of energy. Therefore it is very important to construct God Room in such a way that helps you to connect directly to the unseen force and to your inner source.

Location

According to Vastu Shastra the best direction in the house to construct pooja room is north-east direction of the house. It is believed that northeast direct of the house receives beneficial energies of sun, therefore is fill of Swastik Tatva and positive vibrations.

pooja room location

Shape

You should keep threshold around the Pooja Room so that the space is exclusively defined. Building the roof of the pooja room in a pyramid or dome shape is auspicious. It is well known that the energies under the pyramid are extremely positive and full of energies.

dome shape

CheckOut: 11 Simple Vastu Shastra Tips for Wealthy Home

Colour

Choose light hues (white, cream) as they make a place look peaceful. The walls of the Pooja room can be painted with light yellow or light blue. If you are using marble, it must be in white color.

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Idols placement

The idols are deities in the home. These should not be bigger than the span of the hand. Keep idols in east or west of the room and 2 inches away from wall. You not should not keep too many idols. Old or duplicate idols should be donated. Keep pooja room as well as idols clean and uncluttered. Idols should not be placed exactly at the front of the entrance.

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Entrance

Entrance of pooja place must have a threshold, south-east direction is preferable.The sun rises in the east and brings in optimistic energy and light into the entire house. East is the most opportune direction for the main entrance. North East is other suitable direction.

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Apart from the above vastu tips for construction of Pooja/God Room inside your house there are several other puja ceremonial that one must practice before putting first step in new house and to avail the perfect vastu compliance. But you should be aware of the proper knowledge of vastu shastra before you apply anything. Hope this tips will be informative and helpful to you while building new Pooja Prayer Room in your house.

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Greater Noida stadium gets ICC accreditation

The new stadium in Greater Noida has received the ICC (International Cricket Council) accreditation, paving the way for international matches- from Tests to T20 to be held there.

The new stadium in Greater Noida has received the ICC (International Cricket Council) accreditation, paving the way for international matches-from Tests to T20 to be held there.

Greater Noida Industrial Development Authority (GNIDA) received official confirmation about the accredidation for Shaheed Vijay Singh Pathik Sports Complex, Deepak Agarwal, CEO, Noida and Greater Noida Authority, said.

Jeff Crowe, a former New Zealand captain and currently an ICC match referee, along with M V Shridhar, general manager for cricket operations for BCCI, and Niranjan Singh Virk, anti-corruption manager, ICC, visited the stadium on December 13. They inspected the ground and were satisfied with the facilities.

We are happy to have been granted the accreditation and approval for holding international tournaments,” said Agarwal. “ICC inspection and certification is crucial for a stadium to be qualified for international cricket matches. With ICC certification, we will be able to hold ODIs and T20s besides more international league cricket matches,” he said. “All matches except with India can be held at the stadium,” he said.

The newly built stadium had officially become the home ground for Afghanistan cricketers in December 2015 after they shifted their home ground from Sharjah. Several cricketers have been practising at the stadium since its opening. The ground has hosted both national and international cricket tournaments for some time now.

The ICC had organised an intercontinental cup series from April 10 to 13 this year. Teams from Afghanistan, Namibia and Nepal had participated in the tournament. In December 2015, it hosted a Ranji Trophy match between UP and Vadodara, and the Afghanistan-Zimbabwe Under-19 cricket series.

Greater Noida industrial Development Authority (GNIDA) officials said that in March 2017, they have scheduled matches between Afghanistan and Ireland. “We have lined up eight matches in March 2017. The two countries will play three T20 matches and five ODIs at the stadium starting from March 8 through 24,” said Rajiv Tyagi, general manager (projects), GNIDA.

The stadium currently has a seating capacity for 8,000 people. It has been constructed by GNIDA as per ICC specifications. Spread over 39 acres, it is also equipped with a bowling alley, a tennis complex, indoor stadium with a seating capacity of 6,500, and an athletic pavilion.

Source : TOI

Migsun Roof Raj Nagar Extension

Migsun Roof a new residential address of your family in Raj Nagar Extension

Migsun Roof offers budget friendly housing unit at strategic and prominent location in Raj Nagar Extension where thousands of families already moving in as social infrastructure continues to improve.

Series of previous successful residential and commercial projects by Migsun Group has led the home buyers and investors to set alp high expectations with forthcoming residential ventures of the group. With previous high tech innovated projects such as Migsun Ultimo, Migsun Wynn, Migsun Green Mansion etc. has raised the brand image of the group and perhaps today gives a call for more state of art structures. The company indeed has never led the buyers go dissatisfied and therefore efforts are rolled to serve the occupants at affordable price in the name of Migsun Roof. The new residential venture inculcates several vibrant packs of facilities and amenities to its residents.

Not all get a luxury to live in at affordable price but Migsun Roof, Raj Nagar Extension assures it to all who are looking to fetch a residential property. The property endows the investor with beautiful set of aesthetic floral touch and natural landscape, rendering a perfect ambiance of serenity, far away from city commotions and chaos. Get a quick escape from all sufferings by making Migsun Roof a new home address of your family.

About the Project

This new residential project is situated in Raj Nagar Extension, Ghaziabad along National Highway – 58 and brings in pulsating opportunities for all occupants with divinely interior and exquisitely designed exteriors. Primarily the interiors of the apartments are smartly planned integrating all the latest interior techniques to give suave look to all residential property. Spacious room, luxury touch on walls and roofs, modular kitchen space, cross ventilation well contemplated and implemented, highly illuminated ends and corners and much more to hook the eyes forever, narrates the divine story. The exteriors reflect snootier picture and furnishes a peaceful belt of lush green natural vista, a scenic beauty to relish. Migsun Roof, Ghaziabad caters to all the demands and needs of the individuals and assure good lifestyle at pocket friendly price.

The configurations of these affordable housing units ranges from 675 sq. ft. to 815 sq. ft. each respectively. The apartments are in pre-launch stage and are available for sale through happykeys and developers at an attractive price point of Rs. 10.59 lakh to Rs. 12.79 lakh.

Connectivity rating

On the connectivity grounds, the residents finds innumerous ways to travel across the city and other neighboring lands with robust network of roads, metro, highways and other modes. Raj Nagar Extension is blessed with excellent connectivity and offers seamless connectivity to its adjoining localities in Ghaziabad such as Indirapuram, Mohan Nagar, Vaishali, and Vasundhara. It is only a 15 minutes of drive from central Noida market and about 43.5 km away from Meerut. The metro stations are also located within 15 kilometers and a number of direct buses ply from Anand Vihar ISBT which is located at just 17 kilometers away. The proposed rapid rail transit system is likely is pass through this area in near future. Market expert say that Raj Nagar Extension will come closer to National Capital once the new link bridge will be operational.

Neighborhood Watch:

Location of this project offers decent life style and has easy access to many MNC’s workplaces and reputed Schools. There are several shopping centers and malls located in and around Raj Nagar Extension. These include Pacific Mall, Plaza, East Mall, Metro Mall, Galaxie, Shopprix Mall, AEZ Mall and Angel Mall. The locality has access to Schools like GD Goenka Public School, Saraswati Vidya Madir, GPS Public School, Green Field Public School and Mother India Public School.