Real Estate

What are the best features of an 3 BHK flat?

April 13, 2022 0 Paarth Infrabuild Real Estate Residential Properties

1 BHK, 2 BHK, 3 BHK, 4 BHK Penthouse and the list goes on, the more the variety and the more is the confusion. And even if we have it all figured out, another confusion starts, what should be the feature that one should look for in a flat that they are going to look for.

But let’s hold for a moment, what is BHK Exactly – and hence what does it really mean for these BHKs and other forms of flats. Let’s try to help you out a bit by explaining the types in a bit detail, but here is a promise, this is going to be for a lifetime and you will never be wondering with these terms used and explained:

BHK Explained –

Bedroom, Hall and Kitchen. The first letter of each comprises and makes the BHK.

Why is it used – simply because it denotes the number of rooms that are present in the flat for your consumption? E.G. 3 BHK Means that the flat/property consists of 3 Bedrooms, one hall and one kitchen. Generally, it is assumed that a 3 BHK flat will have one Kitchen, 2 Balconies and 3 Washrooms but there is no fixed rule here, there can be 3 balconies or 2 Washrooms and it all depends upon the developer and his land usage guidelines or the planning that has gone into the particular project / Property.

And hence the abbreviation is used for:

1BHK apartment that means 1 bedroom, hall, kitchen.
2BHK apartment that means 2 bedrooms, hall, kitchen
3BHK apartment that means 3 bedrooms, hall, kitchen
4BHK apartment that means 4 bedrooms, hall, kitchen

However, there are a lot many variations to this as well. A 2BHK can have a servant quarter / or a study room, depending upon the requirement of the general investors/customer for the particular area. And the same goes with 3 BHK and so on.

Now the same abbreviation is used for Independent houses, Builder floor properties and VILLAS. However to make it easier for the customer, in the case of PLOTs – the general terminology is used that a 3 BHK flat can be built in the plot and hence the customer is clear in his / her mind as to how big or small can the plot be.

Now let’s talk about the features of a typical 3 BHK Unit / Flat.

If you are looking for a 3 BHK Apartments, there are some of the following criteria that are already in the mind of the developer / Broker which he uses to help you with, in order to make your decision:

You are a family of 3 to 4 people. You will enjoy the best of the space for each other. Live Expansively. Especially post Covid – the demand for bigger spaces for the family has seen an unprecedented growth. And the reason is very simple. Every individual need their own space to work from home, and if both the husband and wife are working, which generally is the case, you don’t want to be interrupted often.

You want space for each one of you – Even the kids have to take their classes’ online along with the other activities. Since our home is our most comfort zone, and that where we seek for the (Me time) or that particular corner where we feel the best even in the most not so relaxing moment. We must get a relaxing and soothing space when we like to unwind after a day full of work.

Privacy is of high importance – A 3 BHK will allow you to have three rooms and an ample space where you can easily maintain a balance between communal living and your privacy. You enjoy the much needed privacy for the whole family and especially when we have elderly with us, the kids also feel independent and unperturbed in their own happy space.
If you are a small family, you are thinking about the future, it may be that you are planning to expand your family or you are planning to provide space to the newly wedded couple in the future course which a 3 BHK can easily accommodate.
You want to enjoy more of the common area which allows you to enjoy ample family time with all the household with the eye contact.
Parking – a 3 BHK Ensures that you get at least one parking slot for you / your spouse’s car and this can be purchased also for the next one.

With time and during the on-going pandemic, , people have realized that, a home is the need of the hour. And just a home doesn’t work that much. The home has to be bigger, where a husband, wife, kid/s can have their own privacy, space, work and fun done all together. No wonder that all across the country the steep rise in the purchase of the bigger houses has become the need of the hour. You can pick-up the interview of any big real estate developer, it I really evident that the demand for bigger houses is only getting increased day by day.

The house is no longer just the place to live. The house has become the lifestyle and for a modern middle and upper middle class family, a 3 BHK is something that is the need of the hour. The increase in purchasing power and a preference for a luxury lifestyle has created a huge demand for 3 BHK properties in Lucknow.

A Complete Guide for People Looking for Flats in Lucknow

A home is made up of love, hopes, and dreams. It is a place where you create memories with your loved ones for a lifetime. Even better is that you get some tips or a person to guide you to make the whole home buying experience smoother and easier.

A Complete Guide for People Looking for Flats in Lucknow

However, Lucknow being the city of luxuries and Nawabs has everything in abundance. Buying a home is one of the biggest decisions in a person’s life. It is one of the biggest life goals for a countless number of people all over the globe.

Especially buying your first home can be a little overwhelming. There are a lot many questions in a person’s mind about budget, location, lifestyle needs, which builder to choose, whether to go for under-construction property or ready to move in and so on.

If you know what your exact requirement is, the entire experience of selecting the correct home for your needs will seem easier. As there are a lot of options available to buy Flats in Lucknow, a first time home buyer may get a little overwhelmed

To make the entire process easier for you, we are providing you with a complete guide on what factors you need to consider while buying your first property in Lucknow.

Deciding your budget

The most important factor to consider while making a purchase decision is to finalize the budget. Location and type of property will determine the price. This will help you narrow down properties in Lucknow while deciding.

You may want to take into consideration your existing and futuristic financial commitments planned and have an estimate of the EMI’s that you are comfortable paying every month at a reasonable rate of interest and tenure of the loan. You can calculate this using the EMI Calculator.

Deciding the type of property

The City of Lucknow has a lot to offer when it comes to the options and the variety available. The type or size of the property you buy depends on factors like the number of members in your family and your budget. All this will help you decide if you want to go for an independent house or an apartment.

This will also help you determine whether you want a 1 BHK, 2 BHK, or 3 BHK flat, as per your requirement. There are various developers in Lucknow offering independent houses and apartments of all sizes and budgets at various locations.

Focus on the location

Any view that soothes the eye and gives the required clarity is the best as per the industry experts, however, every individual has her / his own taste. Choosing the location for your home is one of the most important factors in making the decision. You should choose a location so that your school, office and other places that you need to commute to on a regular basis are easily accessible.

It is also important to have good connectivity with the market, hospitals, railway stations, airports, and other such important social infrastructure. The budget that you have decided on will also play a very important role in deciding the location of your property.

A prime location in the city will command a higher price as compared to other areas that are still developing. Here it is really advisable to have a look at the future plan map for the city which is easily available on the websites or LDA office.

While buying a home in Lucknow, you may consider prominent locations like Gomti Nagar, Gomti Nagar Extension, Sultanpur Road, Golf City, Shaheed Path. These locations have easy accessibility to all the areas in Lucknow.

Choose amenities as per your needs

These days apartments in Lucknow offer a host of amenities like a clubhouse, kids play area, swimming pool, gym, amphitheatre, meditation zone, Power Backup, Gated Security, parking area, convenience store, jogging track, etc.

If you are buying a home in a township, you will have easy access to the things you need on a daily basis as everything will be available on the campus itself. You may select your dream home on the basis of your requirements.

Choose a reputed builder

Buying a home is probably the biggest investment of a person’s lifetime. Since a lot of time, money, and emotions are attached to making this decision it is crucial to consider the builder’s reputation. Check the record of the builder and the company, how many projects has he delivered.

There are a number of developers in Lucknow and it might get a little confusing to decide. So it is always advisable to do your research before coming to a decision. There are a lot of reputed builders in Lucknow like Ansal, Omaxe, and Paarth Infrabuild and so on who have developed good quality projects in Lucknow.

Selecting Home Loan

Since buying a home is a big investment, you will need to avail a home loan. You can talk to your existing banker or look for a project that is already Bank Approved. It is advisable to look for a Bank approved project in Lucknow as it is generally a more secure option as Banks usually do a thorough investigation of the financial feasibility of any project before giving approval for a loan.

A home loan also offers tax benefits as interest paid on a home loan is tax-deductible.

Do thorough research on home loan rates offered by different banks and go with the one which is the best suited to your needs.

Verify if the project is RERA Registered

The property should be registered under RERA and you can check for the same on the official website of RERA (Real Estate Regulatory Authority). RERA ensures that the interests of the buyer are protected in terms of what the developer has committed to deliver.

This ensures more transparency between the buyer and the developer. In case of any grievances related to a property, you may reach out to RERA for assistance. So, always look for a RERA Approved Property in Lucknow.

Status of the Property

How soon do you want to move in and what kind of payment plan you are looking at will determine the status of the Property you buy. Whether you want to go for an under construction project or ready to move in will also further help you to narrow down your options.

If you wish to move in immediately, go for a ready-to-move-in project. You will have to make the entire payment in one go for a ready-to-move-in property. If you can wait for some time before you are ready to move into your new home, go for an under construction project. This will also give you time to make the payment as and when the construction takes place.

Keep into consideration the additional costs

When you are working out a financial plan to pay for your house, do not forget to consider additional costs like property registration cost, property taxes, maintenance cost, property insurance and cost of interior fit outs, if required. All these will come into play after you have bought the house but they do make up for a considerable amount and need to be factored in your financial Planning.

Do talk to your developer about an estimate of these cost before making the buying decision.

Know the Government Benefits available

The Government has several ongoing schemes for first time home buyers and you should find out if you are eligible for any. If you are a first time home buyer, you are eligible to avail income tax benefits under the sections- Section 80C, Section 24 and Section 80EEA of the Income Tax Act. Make sure to avail benefits that the government has to offer, if applicable to you.

You may also check with the developer in Lucknow about the benefits you may get if you are eligible for any, on booking your home with them.

Take into consideration your future needs

Buying a house is a big decision in a person’s life so it is always a good ideas to take into consideration your future needs as well before making a purchase decision. A bachelor who might be planning to get married in near future can opt for a 2 BHK preferably.

A married or expecting couple can go for a 3 BHK as they will require a bigger space. It might also be a good idea for them to look for a neighbourhood that has good schools, paediatricians, market and open spaces. So, do consider what your life is going to be in a couple of years while making your home buying decision.

Long term financial Goal

If your financial planning requires selling the house at some point in future, make sure to look for a locality that shows potential appreciation in the future. For this, you can look in for factors like availability of good social infrastructure and easy accessibility to major areas in Lucknow.

Areas like Gomti Nagar Extension, Shaheed Path, and Lucknow-Kanpur road have shown good appreciation in the recent past and as these areas are still developing, you will be able to find good properties at affordable prices. Your first home is a memory for your lifetime. Especially after Covid, the real estate market is looking up as people have realised the importance of owning a home.

As per recent trends, families who were staying on rent are keen on buying their own homes and others want to move into a bigger place, especially after the lock down period. We hope this list will answer questions that you might have and can help you in making the decision of buying your dream home in Lucknow.

Top 5 Reasons to Buy Property in Gomti Nagar Extension

March 24, 2022 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry Residential Properties

5 Points to Buy Property in Gomti Nagar Extension

Well planned development – Gomti Nagar and Gomti Nagar extension are one of the largest planned residential areas of Uttar Pradesh. This area has been newly developed and so the infrastructure is planned and organized. This is the reason that these are the most sought-after areas in Lucknow as it gives you a more comfortable lifestyle.

Excellent connectivity – Gomti Nagar extension area is very easily accessible from the other parts of the city. Airport and Railway Station are easily connected by highways and this reduces the travel time considerably. There is proposed upcoming metro development also in the area which will make the everyday commute more convenient in the near future.

Best Social Infrastructure– Gomti Nagar Extension has everything that one can wish for in a residential address. It has lush greenery and many big parks like the Janeshwar Mishra Park which is a major attraction among Lucknowites. Our Project Paarth Aadyant has Phoenix Palassio and Ekana Stadium right next to it. There are some of the best schools like City Montessori School, DPS and St. Francis in close proximity. The health facilities are world-class and easily available. There are multiple opportunities for employment nearby including a software technology park.

Affordability – The best part of housing in the Gomti Nagar extension area is that despite wonderful infrastructure, the prices of properties are quite reasonable, as compared to the rest of the city. A lot many real estate developers have introduced their multi ranged projects in the area. Developers like Omaxe, Shalimar, Rishita, Tulip have their established real estate projects that make the overall area quite accessible and easy to live in. Paarth infrabuild one of the leading real estate developers also has a number of residential and mixed-use communities here, Paarth Arka, Paarth NU, and Paarth Aadyant. These are at the best location of this area and have affordable 3 and 4 BHK apartments with high-end amenities for your comfort.

Appreciating value – In the last ten years, ever since the Gomti Nagar extension area was launched, the prices have been appreciating annually here. In the last few years, even when residential real estate stopped appreciating everywhere (and saw a downward trend in a lot of localities), the properties here have seen a consistent appreciation. This has been probably due to the availability of world-class infrastructure and amenities. There is still good scope for property price appreciation here as people look for large units post-pandemic and the price in nearby Gomti Nagar has escalated beyond affordability for most people. Therefore, those who are looking for property investment in Lucknow are heading here searching for the right property.

All the above factors make this area very appealing for property investors as well as end-users. The rental yields are also good and with multiple employment opportunities, it is not tough to find renters any time. Paarth infra build has two good projects, Paarth Arka, the highest building of Lucknow, beautifully designed by Architect Hafeez Contractor and Paarth Aadyant, a ready to move in project with more than 300 families already residing. The location and design of these properties have helped them take a premium position in this micro-market and will hopefully help drive more customers to this area.

Things you must look for in your neighborhood while buying a Flat

March 21, 2022 0 Paarth Infrabuild Real Estate Residential Properties

Neighborhood, in today’s world, has become one of the most important aspects of living. All over the world, as we are experiencing the neighbors and either standing by or fighting with each other. The most live example is that of Russia and Ukraine, India, Pakistan and China, Iran and Iraq and the list goes so on. And if you have a neighborhood like that of NATO countries, life is much easy and more pleasant. A sheer thought of a nice neighborhood brings up a smile and vice versa. And similarly, when it comes to buying a flat or a house, location and neighborhood are two major important decisions to be taken care of.

Buying a home is one of the biggest decisions of a person’s lifetime. It is a dream come true for most people. One of the most crucial factors while buying a home is to choose a location that best suits the needs of you and your family. Each person may look for different things from their neighborhood in terms of the kind of lifestyle they have.

With no dearth of the variety of options that are available for a property in Lucknow that the decision to finalist your dream home may look overwhelming. Keep reading to find out the factors you must consider before deciding where to buy a home in Lucknow.

Amenities and Activities: The life that you desire for yourself and your family will determine your lifestyle. So choose a home that will fulfill the needs of your family. Apartments in Lucknow offer a number of amenities for your everyday comfort and convenience. Your home buying decision will depend on what your everyday life and needs look like. For instance, a young working professional will look for amenities like a gym, jogging track, clubhouse etc. to relax whenever he/she has the time in an apartment in Lucknow. A family with kids will look for a play area and sports facilities available on the campus. An elderly couple would prefer a place where this is a yoga zone, park and open green spaces.

Convenience: Choose your neighborhood so that you do not spend more time in traffic than actually enjoying your new home. Your home should be easily accessible to places of everyday importance like a convenience store and shopping mall. Availability of Public Transport like Metro, Buses etc. should also be easy to make your everyday commute hassle-free.

Secured Neighborhood: It is important to consider that the location you are finalizing is a safe and secured neighborhood. Make sure that your apartment has gated security. Especially in these times when both the partners are working professionals, it becomes all the more important to consider an apartment that has proper security arrangements.

Social Infrastructure: Choosing the location for your home is one of the most important factors in making the decision. You should choose a location so that your school, office and other places of daily commute are easily accessible. It is also important to have good connectivity with markets, schools, hospitals, railway stations, airports and other such important places.

Transportation: as it sounds, the lack of transportation is a huge factor in deciding upon the purchase of your property. Even if we are well equipped with our own commute, these days that is not the only criteria. We are living in a digital world and we make a lot of our purchases through online Mediums, but as a matter of fact, there are a lot of places where home delivery or transportation is not available by the e-commerce players, in the long run, that can make our lives more complicated and we would be running for small little things to the shops that will charge us obnoxious amounts for petty things. More so the public transport like connectivity from Rail, Metro, Bus and Cab services should also to be searched upon before the final decision of closing on the property deal.

Culture: Whether you want to stay in a quiet family-friendly neighborhood or a busy urban neighborhood is a question you should ask yourself before you come to a decision. You want to live in a place where people have a lifestyle similar to yours. An elderly couple would want to live in a quiet neighborhood whereas a young couple or a family with kids would look for a place which is bubbling with activities like clubhouse sports facility, park, nearby market, schools etc. So do make sure that you take into account all your needs while making this decision.

Buying a home is the biggest decision for a family so do take your own time to discuss with your family about the kind of place they want to live in. We hope this gives you all the things you must look for in your neighborhood while buying a home.

Everything you would like to understand about stamp tax on property

March 8, 2022 0 Paarth Infrabuild Real Estate

We all know that owning a Property (Residential or commercial) is not only one of the biggest financial decisions that you will make in your life but also a very daunting task in itself.

The Process itself is so draining that it keeps us on our toes and is bound to be a vigil at every step, Let it be a site visit, trusting a developer, getting it right, and once the sales are completed other expenses like Stamp duty, registration, and whatnot. It is an experience of a lifetime, while buying a property, the identification, payments terms, loan, etc. are expected to be completed with a lot of leg work.

A very highly ignored step is that of the property buying experience is that of possession and registration of the property. Once the possession of the property is being handed over, it is the responsibility of the buyer to register the property in her / his name.
Physical Possession of the property I merely the 50% of the job done, however, the rest 50% is the paperwork that is as necessary and important as the physical Transfer. The legal evidence of the property owner is the job that is to be finished at the buyer’s end.

There are a few of the steps that are to be followed religiously in order to make the deal complete.
1. Property registration in the buyer’s name in the local municipal records, the documents should clearly state that the seller has transferred the property in the name of the buyer.

2. What is stamp duty?
Stamp duty is a kind of tax, very similar to income tax, which is collected by the government. Stamp duty is payable under Section 3 of the Indian Stamp Act , 1899. Stamp Duty must be paid fully and on time.

3. Delays in paying of Stamp Duty – in case of a delay in the payment of stamp duty, it attracts a penalty. A stamp tax-paid instrument/document is taken into account as a correct and legal instrument/document and has evidentiary value and is admitted as evidence in courts. Document not properly stamped is not admitted as evidence by the court.

4. Why is Stamp duty Collected – at the time of registration the stamp duty is collected by the local state government. The amount of the stamp duty is varied from state to state, kind of property (Old or New) the circle rate. Overall the stamp duty adds up to the overall value of the property for the buyer. The best advice would be to get the information about the stamp duty beforehand
5. Buyers Liability – in regard to the agreement of sale, it is the prime liability of the buyer to pay for the stamp duty as stated by the authority books. If discussed and agreed upon, the buyer and the seller can share the stamp duty equally or as per the decided terms as shared and accepted before the sale deed.

6. When is the stamp duty payable?
The Stamp duty is payable much before the execution of the document or at the max, it should be paid on the date of execution of the document or on the next working day of executing such a document. Execution of the document means putting a signature on the instrument by the person’s party to the document.
7. Penalty charges due to delay in Stamp duty Payment
As per the government laws, Any delay in duty payment will attract the amount of 2% per month to the maximum of 200% of the deficit amount of stamp duty. Stamp papers are to be purchased in the name of either of the parties, i.e, seller or buyer involved in the agreement, failing which will disable the stamp paper. Stamp papers are said to be valid for six months from the date of purchase, only if the duty is paid on time.
8. Who is liable to pay?
Ideally to be paid by the Buyer but In the absence of any agreement to the contrary, the purchaser/transference has to pay stamp duty or in case of an exchange of properties, both parties need to bear stamp tax equally.

9. How to Sign the Instrument?
According to the provisions of Section 12 of the Indian Stamp act 1899, any person executing (Signing) an instrument—affixed with an adhesive stamp—shall cancel the adhesive stamp by writing on or across the stamp his full name or only the initials. If such an adhesive stamp has not been cancelled in an aforesaid manner, such a stamp is deemed to be stamped.

10. What is the instrument?
Any document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished, or recorded. The duty is payable on instruments and not on transactions. Stamp duty should be charged on the idea of the contents of the instrument only. If any information essential for working out stamp duty is missing in the instrument, the valuation officer can call for it. Information such as the area of the flat, number of floors, and year of construction must be mentioned in the agreement for a quicker response.

11. How should instruments stamped with an impressed stamp be written?
As per the supply of Section 13 of the Indian Stamp Act , 1899, any instrument on an impressed stamp, shall be written in such manner that the stamp may appear on the face of the instrument and can’t be used for or applied to the other instrument i.e., cancel the adhesive stamp so affixed by writing on or across the stamp his name or initials. If such an adhesive stamp has not been cancelled in an aforesaid manner, such a stamp is deemed to be unstamped.

12. Is stamp tax payable on all instruments/documents concerning the transfer of immovable property?
Any transfer of immovable property or documents shall attract the stamp duty, Except for transfer by Will (or by original nomination in a co-operative housing society) all transfer instruments/documents including agreements to sell, conveyance deed, gift deed, mortgage deed, exchange deed, partition deed, power of attorneys, leave and license agreement, agreement of tenancy and lease deeds have to be properly stamped before registration.

It is clarified that when a nominee transfers the flat subsequently in the name of the legal heirs, that transfer instrument should only be stamped as per the market value. If the flat has been purchased in a co-operative housing society on or after 10-12-1985, the buyer has to pay the stamp duty on the market value as per the Ready Reckoner. A flat purchased through an agreement purchasable on or before 9-12-1985 required stamp paper of Rs. 5 only. Sounds a bit old but However, a flat purchased on or before 9-12-1985 will require stamp duty on the market value at the time of conveyance of the property in favour of the society. The concept of payment of stamp duty on market value was introduced from 04-07-1980 will be charged on agreement value only.

My Journey from a village to Sushant Golf City Lucknow

January 24, 2022 0 Paarth Infrabuild Lucknow Real Estate residential

Every Teenager has the ambition to make it big, bigger than his father, close relatives, stand out among friends, or maybe prove himself that his dreams are realistic. Especially when he is from a so-called “C” town or a village. To make a lifestyle, a big house, a luxury car, and whatnot. And that sets him apart from his other colleagues. I was nothing different. Little did I know that a villager like me was going to be a part of the residents of the Sushant golf city, Lucknow. . . sounds like a dream and it did come true.

The first and foremost memory I had was traveling to Lucknow with my father for a relative’s wedding when I was hardly 7-8 years old. We went to Sushant City and attended a wedding. Honestly, I didn’t remember anything about the wedding but the memories of the wide roads, the dividers between the road, organized traffic, nice clean and beautiful houses, trees on both sides of the road making it look like an infinite, and then One huge green land, the mere lushness of greenery took me off my foot and I just wanted to go up there and play cricket with my friends, Little did I knew that was a Golf course at Sushant city, Lucknow.

The relative we went to was the resident of Sushant City Lucknow and I was so amazed by the grandness of his home, maybe somewhere in my subconscious heart, I decided to live in such a house when I will make it big. We also went to that huge green land in the evening and I kind of took off, running everywhere, finding some golf balls and the moment I bend to pick one, my father scolded me and I took off again, tried some offbeat shots from that golf stick too. . .

Cutting the long story short, I worked hard and against all the odds landed up in Lucknow for my job. And the moment I landed in Lucknow, I reached Sushant Golf City and went back a long way in my memory lane, the words that came out were. . Wow, I was at the place where I dreamt for so long. Those fresh feeling roads, nice and clean neighborhood, the greenery was even more green, and the golf course, it was the same lush green course and to my surprise, I saw the amenities that are required for a dream place to be at, Walmart, Multi-specialty hospitals, International schools, and on the way I saw a nice multi-story apartment, which got me more curious as the place doesn’t have may multi-story apartments.

I went ahead and checked about the apartment, it was named as Aryavarta Empire. I checked out from their newly constructed Marketing Office and Sample flat, it was just what I wanted, the dream place, 2, 3 and 4 BHK Flats, and the most important very spacious. All the amenities were very close by, let it be Shopping, Hospitals, Schools, golf course, even ISKON Temple, and the facility of transport was also very convenient and smooth. The connectivity from the area to the Railway Station or the Airport was surprisingly easy, the main markets like Hazratganj, Malls, Old Lucknow, recreational parks, educational institutions, and workplaces are too very easy to commute. Even my office which is located in Gomti Nagar was hardly 15 minutes drive away from Sushant Golf city and my house at Aryavarta Empire.

And that is when I decided that this is going to be my nest for the rest of my life, Aryavarta empire was not only about the surroundings, the project within had a lot to offer, like, Basketball court, Kids Play area, Gymnasium, Banquet hall and a lot more. The calmness of the place with the required amenities just took my heart and with a happy heart, I started my journey for which I dreamt of since my childhood.

But when you buy a house, you have a lot to check, like the reputation of the developer, Past track record, delivery status, Rera Compliance, and whatnot.

And to my surprise, the developer has already handed over a couple of projects like Paarth Aadyant, Goldfinch and has a reputation of trust in the city of Lucknow. They are RERA compliant and have tied up with government and private banks for the easy loan process. And that’s when I was relieved and started to plan further about getting my parents to the city and possibly buy a flat for the next door so that we can live like one happy family. . . and that is all that matters.

Importance of having a bigger home especially post Covid

January 20, 2022 0 Paarth Infrabuild Coronavirus Real Estate Residential Properties

Covid 19 has brought an unprecedented cultural and humanitarian challenge. As it threatened to bring all activities to a standstill, most of the large companies acted swiftly and created a new protocol of working – WFH or Work from home. Organizations will be required to continue re-imagining the intersection of office and home to create safe, secure and enjoyable work and living spaces.

Following the lock-down, a majority of the workforce has been forced to work from home. Many people would have been forced to make quick changes in their homes, to accommodate this new lifestyle. However, others may have been faced with space constraints.

Consequently, the demand for larger homes may grow significantly in every city, along with the ticket size of these purchases. Thankfully, factors like record low home loan interest rates, stable property prices and easy availability of ready housing stock in India’s prime residential markets, could ensure that buyers do not have to postpone their home purchase because of monetary constraints.

Along with the work, the learning spaces also shifted to homes. The kids need noise free, private spaces to be able to attend to their online classes peacefully. This has been pushing a lot of families to stress as there is insufficient space available to accommodate this new requirement. This again results in a situation where people are forced to redesign their homes or to buy a bigger home with extra rooms.

For millennial, stepping out of their homes for entertainment or leisure, was an integral part of their daily lives. The absence of open spaces, such as a balcony or a courtyard, within the house was never an issue. Moreover, in space-constrained cities, people often covered the available open spaces, to make use of every inch of space. This is likely to change and even after the lock-down is lifted, people will seek open spaces to relax and rejuvenate. The lock-down will make people understand that open space is just as important as storage space.

Extended lock-down periods, gym closures and limits on time spent outdoors, has made many people feel the importance of exercise for one’s mental and physical health.

Many buyers are now seeking flexible space in the home to accommodate gym equipment and space to exercise. This could be allocating a spare bedroom to be turned into space for a home gym, or creating a dedicated space to accommodate working out at home.

The additional emphasis laid down during this period on keeping one healthy to improve his immunity has further highlighted this requirement. This generation anyway has been more focused on healthy lifestyle. It just adds up to the desire of buying a bigger space when looking for home right now.

It is no secret that the Pandemic has forced people to make new adjustments keeping in sync with the requirements of new ways of operation. Getting a larger home is top of the heap and it will be no surprise to see huge upswing in the demand of the larger homes as we go forward. Luckily the home prices have been at a low and home interest rates have been benign, which augurs well for customers as well as the Real estate developers.

Should you buy or rent your next house in Lucknow?

January 17, 2022 0 Paarth Infrabuild Lucknow Real Estate Residential Properties

Deciding to buy a flat or apartment is one of the biggest decisions of your life. Buying a flat is once in a lifetime opportunity for many of us. The rising price of the flats/apartments and high rate of interest in the market makes it very difficult for buying a flat or apartment. It does take loads of thought before coming up to the final decision. Owning a flat does take a lot of investment and it is difficult to make payment upfront. So we seek for Equitable Monthly Installments (EMI). This arises one of the biggest questions in the mind that what is best Buying or Renting a flat or apartment?

Each option has its merits and demerits. One of the most common argument is that instead of paying rents you can use rent amount to pay EMIs’ and own a flat or apartment at the same time. But you should be very clear whether to buy or rent a flat or apartment. The following points can help you in making your decision.

Merits for Buying a flat

Capital appreciation: Real estate investments do appreciate over a period of time.
Tax advantage: Owning an asset, benefit from Income tax. Under sec 80C the principal repayment of your home loan is eligible for deduction.
Rental income: If the flat or apartment is not occupied it can be rent out.
Rents: You will not face an increase in rentals.
Refurbish: Can renovate or make changes in the flat accordingly without having any constraint like you have in a rented house.

Merits for Renting a flat

Flexibility: In the period of making your career it often happens that you need to change your job very hastily that may lead to the change of city. So until and unless you decide to settle down owning a flat does not make sense. Because this will decrease the flexibility in moving.
Rent lower that EMI: Renting is much cheaper than making the down payment. Down payment is approximately 15-20% of the property value.
Expenditure on maintenance: House requires regular maintenance and it is the responsibility of the owner to maintain it. The tenant is only responsible for minor maintenance. Homeowner has to pay property tax. Also, while buying owner has to pay registration fees, stamp duty etc.

Both buying and renting has their own merits. But owning a flat would be a better choice than renting a flat.

Rentals may seem cheaper than EMI in the short run but in the long run, it is much higher than owning a house.
Rental cost can’t be recovered
A homeowner can always mortgage a property but a tenant can’t mortgage a rental property.
A tenant has to move out of a rented flat, as per the owner’s demand.

If you are looking to buy flats in Lucknow, trust Paarth Infrabuild. With some of the best residential projects in the city and a legacy of trust and transparency, they will be an ideal support to help fulfil your dream of a beautiful home.

Guide for First Time Home Buyers in Lucknow

January 14, 2022 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry Residential Properties

Buying a home is one of the biggest decisions in a person’s life. Especially buying your first home can be a little overwhelming. There are a lot of question in a person’s mind about budget, location, which builder to choose, whether to go for an under construction property or ready to move in and so on. If you know what your exact requirement is, the entire experience of selecting the correct home for your needs will seem easier. As there are a lot of options available to buy Flats in Lucknow, a first time home buyer may get a little overwhelmed to make the entire process easier for you, we are providing you with a complete guide on what factors you need to consider while buying your first property in Lucknow.

Deciding your budget

The most important factor to consider while making a decision is the budget. Location and type of property will determine the price. This will help you narrow down properties in Lucknow while deciding. You may want to take into consideration your existing financial commitments and have an estimate of the EMIs that you are comfortable paying every month at a reasonable interest rate and tenure. You can calculate this using the EMI Calculator.

2. Deciding the type of property

The type of property you buy depends on factors like the number of family members and your budget. All this will help you decide if you want to go for an independent house or an apartment in Lucknow. This will also help you determine whether you want a 1 BHK, 2 BHK or 3 BHK flat.

There are various projects in Lucknow offering apartments in all sizes at various locations.

3. Focus on the location

Choosing the location for your home is one of the most important factors while making purchase decision. You should choose a location so that your school, office and other places that you need to commute on a regular basis are easily accessible. It is also important to have good connectivity with market, hospitals, railway station, airport and other such social infrastructure. The budget that you have decided will also pay a very important role in deciding the location of your property.

4. Choose amenities as per your needs

These days apartments in Lucknow offer a host of amenities like clubhouse, kids play area, amphitheatre, meditation zone, Power Backup, Gated Security.

Make a note of the kind of amenities that you require on a regular basis depending on the members of your family. For instance, if you have kids, it would be a good idea to consider an apartment which has a spacious play area. If you have elderly members in the family, you may look for amenities like park and yoga room. If you are buying home in a township, you will have easy access of the things you need on a daily basis as everything will be available in the campus itself.

You may select your dream home on the basis of your requirements.

5. Choose a reputed builder

Buying a home is probably the biggest investment of a person’s lifetime. Since a lot of time, money and emotions are attached to making this decision it is crucial to consider the builder reputation. Check the record of the builder and the company, how many projects has he delivered. There are a lot of reputed builders in Lucknow like Ansal, Omaxe and Paarth Infrabuild.

6. Selecting Home Loan

Since buying a home is a big investment, you will need to avail a home loan. You can talk to your existing banker or look for a project that is already Bank Approved. It is advisable to look for a Bank approved project in Lucknow as it is generally a more secure option as Banks usually do thorough investigation of the financial feasibility of any project before giving approval for loan.

A home loan also offers tax benefits as interest paid on home loan is tax deductible.

Do a thorough research on home loan rates offered by different banks and which is the best suited to your needs.

7. Verify if the project is RERA Registered

The property should be registered under RERA and you can check for the same on the official website of RERA. RERA ensures that the interests of the buyer is protected in terms of what the developer has committed to deliver. This ensures more transparency between the buyer and the developer. In case of any grievances you may reach out to RERA for assistance. So, always look for a RERA Approved Property in Lucknow.

8. Status of the Property

9. Keep into consideration the additional costs

When you are working out a financial plan to pay for your house, do not forget to consider additional costs like property registration cost, property taxes and Maintenance Cost. All these will come into play after you have bought the house but they do make up for a considerable amount and need to be factored in your financial Planning. Do talk to your developer about an estimate of these cost before making the buying decision.

10. Know the Government Benefits available

You may also check with the developer in Lucknow about the benefits you may get if you are eligible for any, on booking your home with them.

We hope this list can help you in making the decision of buying your dream home in Lucknow.

Ideas for Small Living Room

January 12, 2022 0 Paarth Infrabuild Lucknow Real Estate residential

“Small rooms or dwellings disciplines the mind; large ones weakens it” -Leonardo Da Vinci

With the rising population the need for flats and apartments. This leads to increasing the decreasing the size of the flats, which ultimately causes small living rooms, small dining rooms, rooms etc. It does matter that the living area of your flat is small don’t let it make clinch to your style. Just hang out! It is just tricks that make your eyes feel that the room is bigger than it appears. It is not some magic, it is smart styling. So here are some ideas for your small living room.

Room Paint

The Bigger the Better. You feel more alive and open in your flat if you have a large living room. Even the colour of the living room can make a difference. It is psychological fact that painting your room in a lighter and softer colour can help your living room feel bigger. Also, having larger windows and using mirrors adequately will make you feel your room bigger. On the contrary, darker shades will make you feel your room smaller.

Multi-functional furniture

It is very advisable that you should invest in multi-functional furniture. Following pictures are few examples which are your friends in need.

Rugs

A big carpet can be used to create a feel of large living room. Choosing a large rug in a bold pattern is a trick that creates a feeling of a larger room. Bigger rugs is continuous which does not break the floor.

Curtains

Light coloured or light shades curtains will aid in increasing illumination in the small living area. It is even advisable if the colour of the curtains matches with the wall.

Lighting

Lighting plays a very crucial role whether you a small or large flat. Placement of light in living area will make small living room feel big. The colour of the lights should be eyes soothing that should create irritation in the eyes.

Mirrors

If the living room of your flat is small, placement a right-sized mirror at the right place will make you feel your living room bigger in size. This will also help in illuminating your living area and add beautification to it.

If you want to be witness of these types small room living ideas, you can visit at flats in Lucknow made by Paarth Infrabuild (real estate developer in Lucknow) as Paarth Republic, Paarth Arka & Paarth Aadyant. Their small room’s living is so good and suitable for living.

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