Properties, Homes & more

One of the recents developments happening in Thane’s real estate market is: builders are duping customers through sale of “stilt parking”. One of my close friends was a recent victim of this “possible scam”.

The builder in question is a reputed builder of Thane and has multitude of projecs running in and around Thane. this case happened in one of the projects which was, for some reasons, stuck in litigation in past. the builder have kept buyers in dark about it. now, somehow, the project is cleared and the project is almost on completion, he is trying to dupe customers by selling parking slots at exorbitant rates. he is also saying that STILT PARKING CAN’T BE SOLD LEGALLY (hence hehas & is selling them illegally) & HE IS NOT ALLOWING PARKING REGISTRATIONS ALSO.

I want to ask the legal experts if this is true.
1. Can “stilt parking” be sold at all?
2. Can “stilt parking” be registered? or, regularized?
3. What are legal options available to the customers?

Please share your opinions & save others.

We have seen one of the worst recessions of the century for real estate industry. The prices sank to all-time lows, with returns dipping below investments. However,post mid-2009, the property market has regained momentum - not only in India, but also around the world. Almost every metro across the world has witnessed a surge in property sale / lease. Especially, Mumbai, Hong Kong, Singapore, London, and New York. When it comes to London, I can dream of fantastic palatical bungalows situated in some of the most beautiful premises one could imagine. But getting a property in London is equally difficult. The most important criteria for property, especially in Central London, are: Money, Money, and Money.

London property, be it residential or commercial, does not come cheap. And where there is huge money involved, fraud automatically follows. One should be utmost careful while buying / selling / leasing real estate in metros, especially like London. Hence you should always take assistance from expert agencies / brokers - The London Property Buyers (TLPB) is one of these who will provide genuine advice and assistance is all kinds of dealings in real estate in and around London. Promoted by Laurence Moore, this family business is one of the proud members of National Landlords Association of the UK, which in itself is a proof of ethical business practices! TLPB buys directly from individual sellers for cash, so that there is only one entity throughout the deal. No middle men, no hidden charges, no fees… only complete satisfaction and value for money. TLPB can not only assist buyers/sellers in repossession of real estate, but can also offer expert help in various allied areas  like Stop Repossession, Probate & Inheritance, Relocation, Debt Management, and Personal emergencies.

The process of TLPB is simple. As a first step, TLPB will offer you expert advice on appropriate properties for you depending on your requirements. After the detailed discussions, and only after you’re satisfied with the real estate offered to you, the deal - cash for homes - is cracked. And the final step is that you get 100% peace of mind since there is no fishy business out here with TLPB. By choosing TLPB, one can be assured of utmost professionalism, transparent business practices, speed and flexibility, and peace of mind for everyone. If this is not enough a kick for you, you should call TLPB directly at +44.0800.879.9889 and experience the pleasant change! The rule of thumb is: If you want to buy/lease/sell property quickly, turn to TLPB.

A few days back, a leading newspaper carried an advertisement on their front page from a builder claiming that they are going to shed a light on the truth and are digging out the fact how the projects from another leading builder are charging Rs 5800/sqft for Plinth Area using hidden costs like Common Areas etc while they charge only Rs 2370/Sq ft for Plinth Area exclusively.

Now, the focus of a property seeker shifts towards the fact that how must he save himself from these smart games from the builder where he tries to buck extra? The smooth talking salesmen on the site of the builder chooses to skip on this fact too. So what should we do? The only way to save your skin from this hook is to have the right knowledge on the Carpet Area , Super Area and Plinth Area.

Here is a quick run-through the exact definitions you should know before diving in to scoop the best deal on property.

• “Carpet Area” refers to the total usable area within the four walls of an apartment or a commercial space, as the case may be. In other words, it refers to the area for which a carpet can be laid if required by the owners.
• “Plinth Area” refers to the entire carpet area along with the thickness of the external walls of the apartment. It obviously includes the thickness of the internal walls and the columns, if any, lying within the four walls of an apartment. The commercial space is not taken into account in calculating the plinth area.
• “Super Built-up Area” refers to the plinth area of an apartment or a commercial unit as added by the balconies and other common areas like corridors, staircase, lift room, motor room, security room, meeting hall, gymnasium and an area reserved for indoor games.

The builders, while advertising or quoting the rates for there properties, tag the carpet area and print the rates of the same in there commercials and public issues. But what they usually sell you is the Plinth Area. There has been a huge lot of roaring on this matter in past and yet the strength of the definition of Builder Area’s is enigmatic.

How many of us really get into the carpet area? We seem to simply go by what the builders say in terms of the saleable/chargeable area.

DO NOT GET FOOLED BY THE BUILDERS. I am intentionally posting this on April Fool’s Day, so as to warn all the readers and prospective proerty-buyers from being called “April Fooled by the builder”!!! Pass on this warning to all those you care about.

Finding inspiration for interior design can be tricky. Going to the usual stores often leaves you feeling uninspired and one of the crowd. Sometimes it takes looking a little bit further to find design that truly inspires and invigorates the left hand side of your brain.

One of the best places to find inspiration is from the thousands of blogs that are dedicated to design and interiors. Many famous interior designers and industry professionals like to maintain blogs to log their creative inspirations. For those of us that do not live in the World of design these blogs are a great place to start in order to quickly get up to speed on the latest trends and developments. Often you will find that there are styles that you were not aware of and ways of styling a living space that you had not considered before. Often the high street sofa store do not cover new and breaking styles of sofa so it is always worth checking other places before it is too late.

Interior design blogs will also give you ideas on how to style rooms. Practical tips outlining the do and do not’s’ can come in very useful. Things like spacing, colour, and practical advice can make all the difference to your success.

When looking for sofa and interior blogs make sure you follow blog rolls rather than simply relying on search. Many bloggers do not make an effort to get search visibility so it is always advisable to check out the blogs that are popular within blog rolls. Many bloggers are also willing to have dialogue with you and may be able to help if you have any specific questions.

Once you have looked at many sofas and taken plenty of time looking at blogs, I would strongly advise that you print out your favourites and make a collage. A collage will provide the visual stimulus that will help you decide which style suits you best. After taking in to account other factors such as price and sizes you will be ready to choose the sofa of your dreams. Good luck!

For more info about sofas, you may visit the sofa information section on sofasofa.com.

As I have written in my previous post: Beware of “teaser” home loans, I have mentioned that advisers are warning individuals against obtaining a “teaser loan” only because of the lower interest rate, as it could have serious impact on their finances if the interest rates were to shoot up when the floating rate kicks in after the initial years.

Although all prominent banks have introduced teaser home loan rates as they are flush with money due to lack of demand from companies for funds, the Reserve Bank of India (RBI) has taken a stern stand on this “bad practice” and have categorically asked all the participating banks to END TEASER LOANS. As reported by Economic Times, RBI is concerned mainly because borrowers may subsequently find it tough to repay the loans, once interest rates go up after the first couple of months (during which the rates are fixed at a fixed rate). I hope banks are ensuring that borrowers are well aware of the implications of such rates and the appraisal takes into account repaying capacity of the borrowers when the rates become normal. [Refer: RBI sees red over teaser home loan rates]

As per RBI’s directions, SBI will be terminating its teaser loans offers by March End, and HDFC will continue till end of February. However, ICICI Bank has immediately withdrawn all its teaser loan schemes. [Ref: Economic Times]