Budget 2019: 3 Main Tax Benefits For Property Owners

Today, taxpayers and property owners are quite upbeat with the updates introduced by the Interim Budget 2019. In the budget speech on February 3, 2019, Mr. Piyush Goyal proposed to exempt levy of income tax on notional rent in case of a second self-occupied property. In addition to this, there’s also a proposal of increasing the threshold of rent payment without TDS. According to the government, such a plan is essentially designed to provide relief to the small tax payers, who need to take pains while paying taxes.

Here’s a look at the three major highlights that are expected to bring benefits to the property owners.

  1. Notional Rent Exemption on Second Self-Occupied Property

So far, the taxpayers occupying more than one house have to pay tax on notional rent. Needless to say, the tax on the notional rent is quite high and it imposes undue monetary pressure on the taxpayers. You might have a second house in your native place where you don’t live but your parents live. Quite obviously, you never got the rent for that instead you continued paying the notional rent on the second property. However, with the new update, tax payers are now entitled to claim two owned houses as self-occupied, without having to pay any tax on such notional rent, provided the same is/are not let-out.

  1. Exemption On Long-Term Capital Gains

Following the new update, you can now claim the tax benefits with respect to long-term capital gains on the sale of residential house. However, a tax rebate is only possible if the indexed long-term capital gains are further invested for buying or constructing another residential house, within a stipulated period of time. The interim budget 2019 also proposes to expand this benefit to constructing or buying two residential properties. According to this, a taxpayer can claim an exemption under Section 54, provided the amount of capital gains does not exceed Rs. 2 crores.

  1. Increase in TDS Limit for Rental Income

The interim budget has also declared an increased limit for rent on which the occupant will deduct tax, before paying the rent to the landlord. However, the present limit of Rs 1.80 lakhs is increased to 2.40 lakhs, beyond which the lessee is entitled to deduct the tax.

The recent interim budget update has put the homeowners on an upbeat mode. However, the real life picture is yet to be envisaged in the following years. If you are now looking to buy any luxury flat near Airport or in any other areas of Kolkata, make sure that you get the benefits of all these updates. The direct advantage for end users today is that they can easily sell their existing homes and look to upgrade to their desired luxury property.

Now Pay Only 20% For Luxury Residences in Rajarhat! Know How!

When it comes to buying a home in a preferred location, home buyers often find it difficult. Several considerations come into play at this time. The problem turns worse even when properties are available in the affordable price range, but the buyers fail to finalize on the location. Moreover, location of a property, being one of the most important aspects, it’s important to consider it from various perspectives at the same time.

However, if you are planning to buy a 2 BHK premium apartment in Rajarhat Newtown,you can now avail that based on the subvention scheme.

So what’s subvention? Precisely, this is a usual mortgage finance structured to provide payment flexibility, so as to alleviate burden on the buyers. The term has been derived from the Latin term ‘subventus’ or “to help”.

What is Pre-EMI? How it is Related with Subvention Scheme?

Before we move into what an interest rate subvention scheme is all about, let’s probe into the concept of Pre-EMI and how it is considered to be a burden on the buyers.

To purchase an under construction property in India, one has to make regular payments on the basis of the construction progress. This payment plan is known as construction linked plan. Following the purchase agreement, the buyer has to make several frequent payments to the developers from his savings or the home loan account that he/she has. In case of the latter, the home buyer has to pay the EMI incurred per month from the loan. Quite obviously, he is paying money for the home he is not even using. This payment is called the Pre-EMI (Equated Monthly Installment).

Needless to say, such kind of pre-EMIs is no less than an unjustified burden on the taxpayers. Since the property is in a construction stage, the buyer can’t even let it out and earn rent. Purchasing a property is one of the biggest decisions in one’s life. But, before becoming the owner they have to pay rent for the house they are staying as well as the EMI accrued from the home loan.

Subvention Scheme at One Rajarhat

To help the home buyers, One Rajarhat has recently announced subvention on their luxury apartment at Rajarhat. According to this, home buyers are required to pay only 20% of the entire property price at the time of booking and avail the rest of the amount from bank as home loan. Right from that time till the project completion, the EMI of the bank will be paid by the developers and the homeowners will start paying the EMI, post possession.

With that said, it’s undeniable that a subvention scheme is basically a win-win for buyers, real estate developer and banks alike. For a buyer, an interest discount is certainly a help, especially when he is going to make such a huge investment. On the other hand, banks as well as the developers are going to get more business in tough markets due to the subsidized interests.

One Rajarhat – An Edifice That Matches Your Every Home Wish

Today, living in luxury is not just a choice but a need as well. It has been noticed that with time there has been a significant flow in demand for luxury flats and apartments across metropolitan cities. Apart from the amenities and services, a convenient location also plays an important role in defining a luxury apartment. In fact, luxury is defined by the right balance of ambience, connectivity and facilities. A residential project is defined as premium based on the types of amenities and specifications it offers. The availability of luxurious amenities like Jacuzzi, rooftop swimming pool and other ultra-modern amenities makes a difference, thus, offering its residents a comfortable living.

Also, luxury apartments are not just about comfortable living but total security as well. Sometimes home buyers wonder whether it would be a wise decision to invest in or spend more in a premium apartment than a mid-range budget home. Needless to say, that, beyond the necessities, a luxury apartment offers several other benefits that are often ignored. The best thing about investing in such apartments is, in due course, it would provide more value. Reasons behind luxury apartments being a worthy investment include convenience, space, safety & security, natural surroundings, extracurricular activities, numerous financing options etc.

Now, when it comes to a luxury flat near the airport in Kolkata, you must check out One Rajarhat, which is believed to be the perfect platform to set off with the journey of stylish living. If you have been dreaming of a residential living wrapped with a lavish lifestyle and exclusive amenities and facilities then One Rajarhat will be the only address you can trust upon.  It is said that this luxury apartment in Rajarhat, Kolkata is the edifice that matches your all your home desires. This premium project assures you complete splendour and extravagance, while being located superbly connected to the best hotspots of Rajarhat.

The benefits you can enjoy here include infinity swimming pool, banquet hall cum badminton court, steam and sauna room, modern multi-gym, massage spa room, 3 tier security, facility management system, sewerage treatment plant, landscaped gardens, jogging & walking track etc. The location takes the maximum credit as Rajarhat is considered to be Kolkata’s most preferred destination for both comfort and business. Widely known as the WiFi enabled Smart City, the location is well-connected to the Netaji Subhas Chandra Bose International airport, IT hub, five-star restaurants, hotels, malls, hospitals and schools.

You can be assured of enjoying a perfect combo of both functionality and luxury here in One Rajarhat. Their Service Apartments and Luxury Residences are worth staying as these come with a unique blend of aesthetic beauty and amazing functionality. So, when are you starting your journey with One Rajarhat – a luxurious home for all?

Why Purchasing a Premium Segment Apartment in Kolkata Is a Wise Decision?

When investing in a residential property, it is always advisable to do proper research before arriving at the final decision. Most importantly one should take a look at the current scenario of the realty market and then pick the right property. Deciding on the city and the location comes at the initial stage when looking for your dream property. However, before anything else, you need to choose the best builder that offers the perfect platform to initiate your journey.

Today, we are here to talk about the premium segment apartment in Kolkata. Let us start from the basic itself. Always choose an apartment based on location, the standard of living, facilities and services it offers. Now, if you want to enjoy a lavish lifestyle wrapped with top-class amenities and services without shedding much from the pocket then you have to come to Kolkata. Once you start living in this city you will know that no other city can offer you the peace you have been looking for ages. In that case, One Rajarhat would be the ideal pick. Get in touch with them to know about the right location in Kolkata for premium residential living. There are several projects all around but the upcoming residential projects in Rajarhat have been considered to be the best when asked about premium living.

About Kolkata’s Realty Market

Over the past few years the real estate market in Kolkata is experiencing a speedy transformation. There was a slight stagnation post-demonetization and GST, but the realty market has got back on track. In recent times the market has gained momentum and there has been a rapid increase in buyers’ interest.

Today the City of Joy is dotted with high-rises, apartment complexes and mini-townships. You will find a wide range of options right from low-priced residences to premium apartments. Of course, the market is huge and expanding day-by-day. You will also find a statistical representation of both the affordable and premium apartments online.

Whichever location you choose, keep in mind that a luxury living within your budget is available only in the residential apartments near Salt Lake Sector 5.

Why Choose a Premium Apartment in Rajarhat

For a premium living, choosing Rajarhat is a wise decision because of the following reasons:

  • Connectivity Advantage – Proximity to Salt lake,  VIP Road and the EM Bypass makes Rajarhat easily accessible from different corners of the city. Most decisively, this area is close to the airport and is well-connected via various public transports which include AC bus services, auto-rickshaws,  shuttle services and the upcoming metro railway services.
  • Infrastructure Advantage – Of course, the infrastructure advantage needs a special mention because of the corporate workforce establishments. The business parks, convention centres, commercial properties and top-notch entertainment areas, medical facilities & educational centres demand a special mention.

5 Exclusive Ideas to Inspire You For an Exotic Dining Decor

Mealtimes are always special. It’s the time when every member of the family gathers at a place and enjoys together. Hence, your dining space should certainly be a cosy haven where the entire family can rejoice together. A neat, clutter free, decorated arena makes your dining moments even more pleasant. Here’s how you can notch up an inspiring dining arena with exotic decor.

  1. A Stunning Ceiling

A stunning ceiling can jazz up the entire space. Opt for some architectural detailing or paint a unique design (you can try painting different shades across the ceiling for maximum effect) to accomplish the decor goal. If you are looking for an Old World-inspired ceiling, the custom rustic beams and artwork in muted primary hues would be the ideal option.

  1. Illuminated surrounding

An effective lighting can do the wonders. Hence, interior designers always focus on optimum lighting to bring out the best of the decor drama. For a spectacular dining space, you can invest in eye-catching chandeliers and LED strips. Dress up this contemporary space with a glamorous chandelier. You can also perk up the artifacts with strip lights.

  1. Vibrant Curtains

While a big dining table with appropriate lighting becomes the showstopper in most cases, curtains play a significant role in adding that extra pizzazz in your dining space. Opt for floral prints or sheer curtains for a creative flair in the space. Also, incorporate some playful window treatments to breathe life into the space.

  1. Brilliant Hues

Vibrant hues are always a lure when it comes to interior decoration. According to Mrs. Pakhija, the proud owner of a 2 BHK apartment in Rajarhat, you can create a bold statement with eclectic seating arrangement in predominant colours such as pink and green. The bright, patterned draperies, contrasted with enameled walnut credenza celebrate the grace of the dining space while notching up the decor story.

  1. Notch Up the Cosiness

The entire dining space should give you a cosy impression. Dress the space to add elegance and warmth. An ornate area rug can serve you the ideal decor solution. You can also incorporate hand-painted wallpaper, floor-to-ceiling draperies and intricate China cabinet for an extra pizzazz.

When it comes to a dining room decor, elegance should be your prime concern. Make sure that you are taking cues out of these ideas and craft out something really unique and pleasant.

5 Interior Decoration Ideas From The Experts

Some people have a natural eye for design but most of us don’t. In spite of having an affinity for sophisticated interiors, most of the times we fall short to accomplish our ideas. A consultation with the professionals is helpful but the expectation does not always meet the reality. We present some easy yet chic interior decor trends that are easy to work with, without much of professional intervention.

Here’s a look at the five major trends which are being incorporated in one of our client’s premium residential flat near Airport. From flamboyant wallpapers to patterned ceiling decor, she has embraced everything in the right amount, so as to bring out the exuberance of the decor drama.

  1. Establish a Colour Scheme

Selecting the perfect colour scheme plays a major role in any decoration. The first step for a perfect head-to-toe makeover is creating a palette. If you are a novice, you can try out the basic colour scheme in pastel shades for the entire house. Since the pastel shades are soothing to the eyes, any decor items from picture frame to wall decor, light fixtures and artefacts will appear bright and animated. You can also go for textured surface, if you think the walls are looking too ordinary.

  1. Play with Textiles

This is one of the most important segments, which we tend to overlook. Most of the times, the textile and the colour scheme are a complete mismatch. So, always remember that a perfect selection does the trick. For a home covered mostly with neutral colours, you can think of multicoloured textiles to give a different feel in the space. While planning the outdoor textiles, opt for something in jute. Natural materials and bright tones are always chic, but right application is important.

  1. Mirrors are Essential

Mirrors are on high demand these days due to its versatility. It looks elegant and helps in making a space appear bigger. Also, it reflects the light thus making your space look bigger and brighter. Mirrored panels are elegant, but don’t just place them side by side. Large sheets of mirror are ideal for commercial space, so try a sectioned pattern in a traditional French style instead.

  1. Think of the Sofa

One may  have messy kids, but it doesn’t mean that you would avoid investing in a comfortable and a stylish sofa. Put your money in a trendy yet sturdy sofa, so that it looks sophisticated when placed at the center of your living space. Do not forget to complement the seating with a curvy center table. For an extra pizzazz, place colourful throw pillows on the sofa.

  1. Incorporate Curtains

Curtains add a luxe appeal in the most sophisticated manner. For a classic look opt for sheer drapes. You can get it customized depending on the look and feel of your living space. However, a wide variety of ready-made drapes are also available which are classy and chic.

When it comes to interior designing, we like to be ahead of the trends, but to notch up the perfect look, all that is required is your creativity. Check out these easy and achievable ideas from the experts to impart a characteristic sophistication to your living space.

What are the Safety Features to Consider in a High Rise?

Summary: This post highlights the safety features to check while residing in a high-rise building. Some of them are making a fire safety plan, arranging a meeting with management, checking alarms, taking stairs and so on. Read the post to know more.

Living in a high-rise is a dream of many as it’s a different feeling overall. It feels like you are sitting at the top of the world enjoying a bird’s-eye view. True, everyone wants to dream big and live life, kingsize but in order to live that life one needs to be very careful as well. Generally speaking those buildings that can endure the gravity loads and the possible actions of wind, earthquake, without any damage in the major structural mechanism are considered to be the safest ones. Now, when you are buying in a high-rise building, the satisfactory performance needs a very important attention. While building a high-rise structure one needs to inform the occupants about the limit state of durability and serviceability before handing over the apartment.

I can relate a familiar situation while discussing the safety features of high-rise buildings. There was a friend of mine who used to dream about investing in a high-rise building and so he bought a premium flat in Kolkata. However, he was a bit confused about the safety features which I managed to explain him, thereby, making things easy.

Here are some of the Safety Features of a High-rise Building
To be precise, safety refers to different categories like safety against vibration, cracking, deflection, fire resistance, the collapse of the building’s structural components and so on. In general, safety refers to the security against any kind of collapse like breakage or failure of the structural components and so on.

Make a Fire Safety Plan
Like the low-rise apartment building or single-family home, the high-rise dwellers too must have a home fire safety plan. Do meet with the neighbours of your floor and coordinate accordingly regarding how to evacuate during problems. Know the exit areas properly which should be marked, so that there is no problem during an emergency.

Meet With Management
Arrange a meeting with your building manager or the concerned person regarding the safety issues. This meeting would help in informing all about the evacuation procedures and fire safety feature of the building. Check whether the building you are staying has a full fire sprinkler system. Make sure, there is fire drill session arranged on a regular basis.

Check the Alarm
Ensure that the fire alarm works immediately, whenever there is an emergency. There should be dummy sessions in order to understand the real situation if ever it occurs.

Take the Stairs
If there is fire alarm ringing, never use elevators instead use the stairways to exit. You never know when the elevators would start malfunctioning, thus, pushing you in more trouble.

Hope, the above-mentioned discussion was helpful to you and will now prepare you before you opt for a high-rise building to stay.

3 Ways to Decorate your Gourmet Space

For many home makers, kitchen is a place where they spend a substantial amount of time preparing food and creating favorite moments for the entire family. After all the mealtime memories start from the kitchen; and, that’s absolutely a reason, why the gourmet space should be a place with proper ambiance that cuts your stress and at the same time encourages you to polish your culinary skills. Mrs. Sharma, the owner of a 3 BHK residential apartment near Salt lake Sector 5, believes that an appropriate decoration helps you enjoy a happy time in the kitchen. She shares some amazing ideas to spruce up every kitchen in the best way possible. Let’s check it out here.

  1. Designing a Galley Kitchen

A perfect style for a 2 and 3 BHK, galley kitchen is all about making the appropriate space utilisation of the available space. Done within a narrow space, this kind of decoration involves a proper arrangement of the counters and all kitchen appliances on both walls. These are enclosed on all four sides that tend to make it dark and clumsy. But, you can light up and achieve a cheerful vibe by using pendant or track lights on the ceilings and below the storage shelves. You can get an elongated feel of the space by adding skylights. A great way to accentuate the kitchen space is to use light colour on it. Shelving is also a great way to make the space utilisation. It also helps in keeping kitchen accessories in place, by keeping the kitchen counter clutter-free.

  1. Constructing a Kitchen Island

Kitchen islands make an apt choice for luxury apartment. The prime attraction of such design is the shelves that are designed to make the space look clutter-free. Another functional benefit of such kind of kitchen is to cook the meal and immediately serve, using the space as a dining area. While decorating your island kitchen, make use of dark wood or contrast colors of laminates on the table top to accentuate the design. To make more space for seating keep the chairs outside. Make more use of the overhead space to keep minimum appliances or accessories at the counter level. Set up channel drawers and cupboards to keep things clean, dry & organized.

  1. Crafting a U-Shaped Kitchen

In many homes, U shaped kitchens are highly in vogue. However, a U-shaped design works well if you are having the dining area mingled with the kitchen. This can be really helpful as you will not have to carry the steaming dishes all the way from the kitchen to the dining area and then serve them. Make sure that the dining table and the kitchen countertops can be matched to keep sync. However, make sure to opt for light colours to amp up the space a bit. You can also buy hi-gloss units with glazed tiles to ensure a happy note in the kitchen. Stainless steel sink and countertops are also can help to perk up the brightness of the space. Do opt for wood finishes with dark shades of colors as they help in improving the graceful designs in kitchen and the dining area.

The Prime Takeaway
The kitchen or the gourmet space should be designed so perfectly that it aptly reflects the elegance of your kitchen in every possible way. Put on a minimalist approach to make the most of your kitchen design. Keep in mind that every household story starts and ends with your very own “gourmet space”.

Pros & Cons of Gated Residential Complex

Buying a home is one of the major decisions of your life and in making a perfect decision several considerations comes into play. While the majority of home-buyers nowadays opt for gated complex, considering its multiple benefits, a lot of people still have a strong affinity for standalone buildings. This is apparently economical than the residential complex. However, you must consider the pros and cons of buying a gated residential complex.

While the residential complexes have garnered quite a demand Standalone properties also demanded a steep demand. Apartments in the gated complex remained the most preferred category across different zones in Kolkata. Even the luxury apartments in Rajarhat New Town and other city fringes have acquired limelight due to the presence of gated residential complexes in those areas.

Pros of living in a gated complex

While living in a gated complex, it instantly upgrade your lifestyle significantly. These residential complexes give you plenty of luxurious amenities and scenic landscapes that makes your life absolutely comfortable and hassle free. There is also the added benefit of being able to access these particular facilities at your own time and leisure, thus offering you an awesome sense of exclusivity.

Security & Privacy: This is the topmost priority in the gated residential complex. And this is something, the gated complex will provide you and not the standalone properties. By staying in the gated complex, you can actually enjoy the assurance of a safe and secured environment, 24 X 7.

Clean and Healthy surroundings: A gated residential complex keeps you guarded against pollution and noise from the outside. This way, you can actually keep your environment clean and healthy. A plethora of greenery is also found in the gated complex, which aids you to breathe pure and fresh air.

Develop a community: Staying in a gated complex is highly beneficial for building up a community living. And, in the long run, it helps you do away with depression and other serious psychological ailments.

Cons of living in a gated complex

Maintenance Costs: If you are having the top-notch facilities of a gated complex, you need to bear its costs too. Obviously,  you have put up with its heavy maintenance expenses for facilities like gymnasium, swimming pool, health centre and sports fields and other added benefits. No wonder it gets a tad bit higher than regular living.

 

Security Features you Must Consider While Booking Your Apartment

Summary: The modern security features not only ensure you a safe and secured life, but also offer you a hassle free living. So, if you are buying a property, make sure that the apartment has these security features.

More than the aesthetics and amenities, a home buying decision should be determined mostly by the security features. With the growing threats of crime in the urban areas, having top-notch security features in the apartment is quite mandatory.  While most of the times, the quotes of the apartment mostly depend on the magnificence of the amenities, safety and security of the home are often ignored.   Here’s a look into the security features that a residential apartment must possess.  Nowadays, the smart 2 BHK apartments in Rajarhat New Town are coming up with several top-of-the-line security features.

Card Access System
These offer a top-notch security. Unlike any traditional security measure, these access cards can store information of residents as well as the visitors who enter and exit the building. All these features make card access systems worth installing. These are totally programmed to restrict the unlawful entrance to any place in the building premises. What’s more! This exclusive card access system also keeps a track of the residents coming inside or going out.  Many gated communities are using video surveillance systems in conjunction with card access system, to keep a close vigilance over the building premises. Many a times, the  access cards are also integrated with photo-ID cards for employees on a large property.

Advanced Key Control System
For the highest level of security to your residential property,  this is quite useful .What’s interesting  about this is  that if the key  is lost or damaged, the details can be deleted from the server without much hassle.  This way you can  avoid the threats of intrusion and burglary to a large extent. These are ideal for multi residential properties as it contains the codes of all the residents using it. At the same time they are password protected.

Security Gates
Security gates are the most common high-profile access control system recently. Gone are the days when security guards used to protect the building from unnecessary intrusions. Today, these are found in most of the gated communities as they offer top-notch and customizable security level. They also offer real-time insight into the surrounding areas of your residential property.

Security Locking
Heavy-duty security locks are also quite popular in the recent times. It comes with strike-plates with screws and doorjamb reinforcement plates, which prevent the unlawful intrusion in the flat. Also, check out if the developer is providing anti-slide and anti-lift features in the window frames itself.  The only reason to equip these security locks is to ensure that no incidents of forced entry ever happen.

Today, the security of the homeowners is certainly at stake considering increasing number of crimes in the city. Quite obviously, installing the state-of the-art security features in the residential units is extremely important. And, for the modern homeowners, having a secured home is also important.