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Impact of Mumbai Metro in Mumbai Real Estate Property

Although the city like Mumbai has earned the reputation of financial hub, but the city still struggles for its unplanned infrastructure. The crumbling infrastructure sometime marginally paralysis the city and questions its existence for future. Every the city witnesses new infrastructure projects and one such is the Metro. Currently, the city has a metro connectivity from Ghatkopar to Versova, however, there are few metro projects underway. The current, VAG project has brought the ease in travelling for commuters working in this region. This metro project has also positively affected the real estate market in this circuit. Similarly, the residential and commercial properties in upcoming metro project lines are also expected to gain positive impact in coming years.

The Impact of Metro rail on Real Estate:

Real estate developers like Nirmal Lifestyle are having a great advantage in future once these metro rail projects are completed. Home buyers will look for properties close by to these project because the connectivity gets improved. Andheri (east) which was just a commercial area, is now witnessing a good residential projects coming up. Like these, metro rail will uplift the areas which are quite far from suburban station. Once the project gets completed, there will be an appreciation of 10–15 percent in these area.

Micro-markets will benefits:

There are micro-markets like CBD( Central Business District), Secondary Business District) and Western and eastern suburbs. Moreover, there will be a residential boost in Thane and Navi Mumbai, which are already well-developed in all terms.

Right time to invest:

Since there are many new metro rail projects coming up in different parts of Mumbai, investing on upcoming residential and commercial projects is a good things to do. Present investment will certainly yield good profit in coming years. Since the population density will increase, the project building will also increase.

The upcoming metro rail projects are- Metro Line 2A (from Dahisar-DN Nagar), Metro Line 7 (Dahisar east-Andheri east) and Metro Line 3 (Colaba-Bandra-Seepz) which will increase the residential and commercial project.

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Choosing the Right Light Décor for your Home

For a home, it is extremely important to have a good lighting condition. A proper lighting condition can help in keeping the interior environment bright and positivity around. A mix of both, natural and artificial light is important. Today, apartments come with spacious area that gives ample opportunity to add up lights creatively. Real estate developers too are doing their best to give some good lighting conditions for interior. Projects by Nirmal Lifestyle carry a good interior space, so you can add up your creativity while installing lights. From wall mounted lights to ambient lights, there are different lights that you can use accordingly.

You need to keep different aspects of home interior in mind while adding light to the space. There are different areas from living room to kitchen room and bedroom which needs perfect lighting. Let us check how to choose the perfect lighting for the home:

    Living Room:

Living room defines your lifestyle and is the gateway to your abode. From the right chandelier to wall hanging lights, everything should be in proportionate. Use the combination of accent and ambient lighting that can create a pleasant ambience. If you got hanging artwork and items to showcase, then using focus lights to make it eye-catchy.

     Dining Room:

It is the major focus area and complimenting it with different types of accent lights will help in increasing the focus of the space. From drop lights to the chandelier, every type of light can help you.

    Bedroom:

The most important space of your home which should have relaxing lights is the bedroom. Add the space with adjustable accent lights with task lighting. You can even add floor mounted lights and bedside lamps which are essential for the bedroom. They help to create a warm environment.Like, these, adding right lighting condition for kitchen, bathroom and even your balcony can help to keep your home a relaxing area. It also increases the overall value of the home.

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A GUIDE TO PAY PROPERTY TAX IN MUMBAI

Planning to buy home in Mumbai city? Already listed Nirmal Lifestyle project for your investment in apartment? But have you considered about property tax? Property tax is an important part of buying new home. Every city has different property tax paying method, and so has in Mumbai. Property tax is a recurring charge that the home owner has to pay every year. However, the amount may vary according to the location. For instance, if you are residing in Nirmal Lifestyle project in Mulund, the property tax would be high. But if you are residing in Kalyan, the property tax would be quite less.

In Mumbai, the residents have to pay the property tax to Brihanmumbai Municipal Corporation (BMC). To pay the property tax, one has to understand the process, what and how to much to pay.

In the year 2017, BMC had passed the law to exempt property tax on houses having carpet area up to 500 sq.ft. Moreover, 60 percent concession is also provided to houses measuring 500-700 sq. ft.

Calculating Property Tax in Mumbai:

In Mumbai, the property tax is calculated on the basis of capital value of the property. It also depends on stamp duty, which is every year revised. The BMC uses Capital Value System which is based on the market value of the property.

Market Value of the property x Total Carpet Area x Construction weight type x weight for age of the building, are three things considered. Here, the market value of the property is calculated using Read Reckoner (RR). It is a set of fair value prices.

Weights for construction type:

Bungalows and RCC construction-1 unit

RCC (Semi-permanent/chawls)-0.60 units

Under-construction or vacant land-0.50

It is important that you check out the exact method how property tax is paid. Connecting with the BMC official or real estate agent will be helpful. To pay the property tax, you don't need to visit the office, as it can be done online itself-

Municipal Corporation of Greater Mumbai (MCGM) – https://prcvs.mcgm.gov.in/

Navi Mumbai Municipal Corporation (NMMC) – https://www.nmmc.gov.in/property-tax2

Since there are societies in every building, the members of the set committee in the society can pay the property tax.

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Financial Aspects you need to consider on buying a Home

Buying your first home? Checking out the location and research about the developer? Have you considered about financial aspects? Well, it is quite natural to consider the financial aspect when investing on a new home. Whether you are buying a re-sale home or new one, finance is the first thing that comes into the mind. This article presents you with 4 such financial aspects which you need to consider buying home: 

Financial Planning:

This is the very first thing to consider the financial planning to make the smooth functioning of buying a new home. There are things like loans, insurance amount, etc. which can be an obligations. If you are not financially secured or independent then it becomes difficult to invest. The EMI of different banks are different which may be a burden. During your investment, there are some hidden charges like stamp duty, maintenance, registration, etc.

Improving your credit score:

Credit score matters a lot when you approach the bank for the loan. If you have already taken a loan before and couldn’t payback on time then it becomes difficult to approach for the same. It is always advised to check your credit score from CIBIL, TransUnion, etc.

Choosing the Loan:

Every other bank has different home loans with different EMIs. You need to research well and compare the interest rate of every other banks, this will help in getting the right loan that falls under your budget. Here the kind the project you are investing on also matters. Most of the top real estate developers including Nirmal Lifestyle have tie-up with banks offering low EMI home loans. Moreover, you will also have the option of choosing among floating interest and fixed interest rate.

Your Job Security:

While taking loan for the new home, ensure that your current job offers security for future, so that you can save enough money and have a job in hand for long term. Job security is highly essential

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Ways to make a building earthquake proof

Natural calamities are in nobody’s control. Human beings have absolutely no control over the occurrences of natural calamities but they definitely do posses the requisite talent to devise effective precautionary steps to minimise the aftereffects of the natural calamities. Earthquake is one such natural calamity that brings huge loss to mankind in terms of both life and property. However earthquake themselves cease to pose the greatest threat to mankind but the collapsing building does. Buildings are basically structured to support a vertical load but the earthquake leads to a lateral or sideways movement that becomes difficult for the building structure to withstand the pressure leading to its collapse.

 There are many ways to make an earthquake resistant building such as.

         The floor, roof and foundations of the building should be tied into a rigid box that holds the building structure together when shaken by earthquake.

         The buildings should be made with materials that can bend without breaking that  will make the structure more shock absorbent.

         Embedding steel into the structure’s frame acts as a shock absorbed, preventing the building from collapsing during an earthquake.

         Light walls and thin concrete flooring are better capable of withstanding the seismic movements.

         Keeping the building structure light and flexible helps in withstanding the movements during an earthquake.

         Using reinforced beams and trusses helps in transferring the energy caused due to swaying of the building to the base of the structure and surrounding earth that prevents the building from collapsing down.

         Buildings built on soft soils and soils containing high amount of moisture are more prone to damage during an earthquake. Hence building structure should always be built on solid earth surface preferably a bedrock that reduces the structural damage.

         To make a building earthquake proof it is essential to secure the structure of the building with TMT bars.

Nirmal Lifestyle believes in design which are unique and has a proper blend of science and arts. They specialize in Building uniquely designed homes. Nirmal Lifestyle have successfully completed projects in Mumbai.

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Top 5 locations in Mumbai to maximize your return on Real estate investment.

Buying an apartment in city like Mumbai is not an easy task. Just apartment is not the only factor you are looking for. Whenever you invest in something you always think about the returns and that’s also an important factor while buying a property. Mumbai is the most developed city and investing on any of the property is the best way to earn good return.

So we are going to see the top 5 locations in Mumbai where you will certainly get good returns on your investment.

1)      Andheri: This is a good area in both the zones (east & west) for investment as Andheri is a hub for corporate offices. Most of the flats in this area are for rent out so residential apartments in Andherihas a big demand.

2)      Kharghar: Kharghar is the most popular suburb for investment not only for Mumbai local people but Pune people also thinks to invest in Kharghar as it is much closer to Pune. It is the connecting area to the CBD of Belapur in Navi Mumbai and is surrounded by two highways and Khargar hills.

3)      Mulund: Being the center from both Nahur and Thane by central railway line, Mulund has the best connectivity and transportation to go to any part of Mumbai. And when we talk about the properties, projects built by Nirmal Lifestyle it is definitely a wise option for investment.

4)      Panvel: Being an industrial hub Panvel has its own other benefits when we think investing in here. It has many affordable properties and with an upcoming international airport project this seems an option worth investing in.

5)      Thane: As this suburb is well connected to other areas through central and Trans-Harbor line, we get comfortable transportation. Thane is becoming favorite suburb for many IT companies so properties here also getting good returns.

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Things to keep in Mind when choosing Rental House

As you start hunting for a rental home in metropolitan city, the rental price and budget matters the most. Apart from rental price, there are multiple things to consider like- rental amount, maintenance, parking charges, etc. The rental price of the apartment depends on the location of the project. Like if you are looking for rental home in Nirmal Lifestyle project in Mulund, the price will be higher compared to similar project in Kalyan. Proximity matters the most because the individual looking for home should be close to the office or college.

Here are few tips to consider when looking for rental house:

·         Ensure Affordable Rental:

The rent of the apartment is decided on basis of location, amenities offered and space of the apartment. Larger the space and more the amenities more will be the rental price. New apartment comes with maximum facilities and societies come with landscape garden, security, parking, etc. So while you look for a rental home do make sure to check these factors.

·         Credentials of the Developer:

The developer will matter the most when you look for rental house. For if you are renting a house in any of the Nirmal Lifestyle then you are assured of good space, compared to any other normal developer. Top developer ensure of good property space that can give good stay experience. This will certainly help you in getting a good rental house.

·         Check out the Lease Agreement:

You need to pay great attention towards the agreement before signing the deal. It should have all the terms and legal conditions that both the parties need to follow.

Before you head to the rental house, ensure that the locality and other aspects of the property meet your need. A good rental home falling under your budget will certainly help you to stay comfortably.

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Feng Shui Tips for your New Home

If you haven't heard before, Feng Shui, then it is the art of living in harmony having five basic elements- Earth, Fire, Water and Wood. Many home owners design their home keeping Feng Shui method in the mind. This traditional Chinese method of living has become more famous and is known for enhancing positive energy flow and brings prosperity in home. Today, not only home owners, but developers too are using Feng Shui method for designing the apartment. Top developers like Nirmal Lifestyle and others are using these traditional Chinese methods on each apartment design.

If you are looking forward to change your interior with Feng Shui, then here are few tips to follow:

·         De-clutter your Residence:

To begin with, get rid-of your clutter and unwanted furniture to make your home have free space. Scan the home surrounding and find items which are not necessary. This way you can space out your furniture and de-clutter your space. This, in-turn can help in getting positive energy.

·         Bring in Natural Light:

A home with enough natural light can have good amount of positivity around. Keep lighter curtains and windows and doors open to bring in more natural light. This will also bring more natural fresh air to energies your home to improve the energy flow.

·         Keep the Interior Vibrant:

Vibrant and open interior keep positive around. Opt for indoor plants having vibrant flowers that will boost energy. You can even enhance the space with gorgeous crystals which are the powerhouse of Feng Shui. As per Feng Shui, elements like purple and gold can help in promoting happiness.

If you are looking forward to change the interior and want to add Feng Shui then do connect with expert interior designer who can help in getting the best interior.

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Why Location becomes Important in Real Estate?

Imagine you have invested on a property in Karjat, which is extreme outskirt of Mumbai. Now when you have decided to sell it, you find that the rate hasn't increased all these years. This is certainly a loss on investment. Location like Karjat, which hasn't witnessed any development in terms of residential isn't an ideal investment town. Cities that fall beyond Mumbai were not much considered as the best place for investment. However, in the last few years, Kalyan city has witnessed a good growth. Developing infrastructure, real estate development and other aspects have changed the face of this city. Nirmal Lifestyle have also come up with their residential project. However, the consideration of location before investments matters a lot.

This article presents you with the why you must give much importance to the location before investment:

The Infrastructure Development:

Like mentioned above, location like Karjat haven't witnessed any good development in years, neither there is any promising development in near future. So investing in such location will be a loss in long term. However, developing location like Kalyan, and developed suburb like Mulund will yeild a good return in future. The growing infrastructure matters a lot.

Good Connectivity:

From railways to roadways, the location must have a good connectivity to other cities. Moreover, when investing on a property, check how far the hospitals, railway station, airport, entertainment hub and other essentials are. A property close to these areas is good to invest on. Naturally you wouldn’t prefer staying in a locality which has no connectivity.

Local Amenities:

Local amenities like grocery stores, restaurants, shopping and others are essential amenities home buyer look for. Buyers usually want these amenities to be away of 5-10 minutes from the property. This is also the reason why real estate developers prefer building projects close to such local amenities.

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Ideas to Design your Garden Space to make it look Classy

While most of us would like have spacious gallery that gives enough space to spend time, but the lack of space availability makes it difficult. Since, garden gallery is becoming a trend; most of the top developers are building extra space. Developers like Nirmal Lifestyle are building projects having extra gallery space which the home owner can use for transforming into small garden. Imagine sitting in the gallery and getting a best view of the city. This is certainly the best investment you can have for long term.

If you are planning to design your apartment gallery and want to transform it into garden, then here are few tips to follow:

·         Plan the Space Well:

Before you head to transform your spacious balcony into garden, then plan the space accordingly. The notion of wanting large space is about having it optimally. So it becomes important to plan the space before working on it. Divide your balcony into garden area and seating area. Chalk out small area where you can store essentials and garden equipment.

·         Choose the Right Furniture:

Furniture plays an important role when it comes to shaping up the balcony. Use light furniture, weather-proof and foldable. Don't go for large furniture that looks luxury and convenience. There are special balcony furniture which you can keep enjoy spending time.

·         Choosing the Right Lighting:

During the day time, the balcony won't need extra lighting. However, during the night time, you need to have proper lighting. There are separate lights for balcony section which you can install. Use fairy lights, LEDs or hanging light that can uplift the space and make it look magical.

·         Adding Right Colour:

Adding the right colour to the area is important and should match up with the furniture and green carpet. Bright and popping colours are great, but should be limited. Similarly, too much of wooden and darker shades will make the area look cluttered. Instead, go for boho colour or rainbow colours having warmer tones over it.