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Why the Architectural Design of your Home Matters

Home is the place where we spend most of our life, along with our near and dear ones. Our parents and children would need all their requirements to be met in the house you buy. It could only be achieved if a house is designed well. What we keep hearing from our friends, who have bought houses, all the times – no air-circulation, no sunlight, lot of seepage etc. This problem is more acute in an apartment than an independent house. But how does a good house design help this cause. Let’s understand.

We all understand that different parts of the world have different weather conditions. It is also well explained by scientists and engineers by now that at different times of the year, sun rays reach earth at different angles. In fact the movement of sun and where it rises (the direction) also varies through the year. Winter and summer solstices amply provide this understanding. In this situation, it is very important to realize that sun rays have to fall at different parts of an apartment at different times. Good architects use this to design great houses, which are also energy efficient.

Another aspect which affects good home designing is the fact that air movement in different parts of the world is different. It depends on factors like proximity to sea or mountains as well as the location near or away from tropics. The strength of storm-like winds is also a crucial factor to be noted. When the elements of a house or a building are designed basis this, the result will be a house which will have a good ventilation. A good ventilation always ensures a home free of micro-organisms, which is critical for good health. A well-designed home also reduces energy consumption, as it ensures optimal temperature to be maintained at all times. One can argue that with today’s technological development, Air-conditioners and heaters can be used to maintain optimum temperature, however, without proper ventilation, the air inside the house will not be healthy. Also, such devices make air drier, which has negative impact on various body organs.

But how to get a well-designed home in Lucknow. The only answer to this is that one needs the services of a good architectural team, who understands these aspects and has a portfolio of projects can achieve it scientifically. Especially when one is talking of an apartment building, it becomes extremely important. You can’t have wannabe designers creating a house design which can provide the required amount of sunlight and air circulation. One of the best designed building, I have seen in Lucknow in Gomti Nagar Extension area in Lucknow is Paarth Infrabuild’s Arka. This is designed by Hafeez contractor, arguably the best architectural team in the country. A half-circular shape of the project ensures great air circulation to every single flat. The beauty of it lies in designing each apartment as if these have been designed individually to create perfect homes. The direction for each is managed to ensure optimal sunlight and air – circulation as needed.

Impact of GST on Real estate

GST that works on the principle “One Nation, One Market, One Tax” seeks to transform the complete tax system of India. GST are divided into five tax slabs for the collection of tax – 0%, 5%, 12%, 18%, 28%. The tax system in India had a cascading effect, there was a tax on tax. GST simplifies the complete tax system to eradicate the multiple tax system such as VAT, service tax, central sales tax, entry tax, luxury tax etc. Real estate is one of the most crucial sectors of the Indian economy which is contributing about 5-6%a to the GDP on India. It is the second largest employer in the economy after Agriculture sector. According to the report by CREDAI and JLL India’s real estate sector is going to USD $180billionb industry.

Impact on buyers and investors

Before GSTAfter GST
· The construction status of the property will decide the types of taxes the buyers are liable to pay these varied state to state. – (Property under Construction) buyers were liable to the VAT, service tax, stamp duty and registration charges. – (Property after Completion) buyers were liable to stamp duty and registration.· GST simplifies the overall purchase price. · All the property under construction will be charged 12%c of the property value which excludes the stamp duty and registration charges.

Impact on developers

Before GSTAfter GST
· Developers were liable to pay central excise duty, VAT, customs duty etc. · Also, they have to pay other charges like approval charges, legal charges, architectural charges, labour taxes etc. which at the end burden comes on the buyer. · Before GST a huge amount of real estate expenditure undergoes unrecorded. GST will cut down this due to cloud storing of invoice.· Under GST Cement will be taxed at the rate 28%d Iron rods and pillars will be taxed at the rate 18%e.· Reduction in the cost of logistics.

· The developer will be entitled to acquire input credits on the sale of property under construction against the taxes paid by the buyer.

Under GST real estate industry are also going under automation. Automation will provide ample amount of benefits such as time compliance, generation of the report, comparison among the reports, cost-effective with reduced staff and much more.

Post GST:

  • The transparency in the system is increased as the developers can buy the raw material only from the registered vendors.
  • The complex process for buying a home has become simplified.
  • The foreign investment is also increased as the tax system is simplified without giving them the burden of multiple taxes which will lead to improving the overall quality of Indian standard.
  • GST and RERA together will bring in more transactional transparency into India’s real estate sector.

References:

aSource(IBEF) on 20-06-2018
bhttps://economictimes.indiatimes.com/wealth/personal-finance-news/indian-realty-sector-market-to-reach-180-billion/articleshow/63301570.cms
chttps://www.livemint.com/Money/M5Boa7PF4LHY3o10rdbCyO/How-GST-is-charged-on-houses-under-construction.html
dhttps://cleartax.in/s/impact-of-gst-on-the-cement-industry
ehttps://economictimes.indiatimes.com/industry/indl-goods/svs/steel/steel-industry-likely-to-benefit-from-gst-rate-stands-at-18-per-cent/articleshow/58751901.cms (20-6-2018)

Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India