Properties, Homes & more

It’s all in the name of good faith! Wise old men said centuries ago that a person’s happiness rests on the good things he has in his home or place of work. Probably every family in our country has a Ganpati figurine in the house that is a sign of prosperity and good luck. Now-a-days, the trend is to have Feng Shui artifacts. It means wind and water. It is rapidly becoming a standard practice for creating the ideal and balanced environment to live in and work.

Feng Shui specifically comprises of four aspects: building, environment, people, and time. Most “masters” and Feng Shui books only utilise the first two aspects - building & environment - and miss the other two important factors - people & time.

It is an ancient chinese study of the environment that is natural and “built”, and has been practiced for thousands of years. It is a blend of architecture, interior design, Chinese mathematics and common sense. In its most accurate form, Feng Shui analyzes specifically how a building and environment supports the people and how a certain time period affects the house and its occupants.

If properly applied, Feng Shui recommendations can result in improvements in the life of the individuals who occupy the property. There are many places where Feng Shui articles are available. Now even stores like Lifestyle are also stroing Feng Shui figurines like Three Wise Men - its presence is said to ensure wealth, authority, respect, long life and good health; Laughing Buddha - a symbol for prosperity, success and financial gains in the work areas; Dragon and Turtlehead Dragon among others.

The sale of these artifacts is going really strong because they are the best way of ensuring good luck. These collectibles are priced very affordably in the range of Rs. 120 to Rs. 2,000 - according to the size & material used. You can also place Figures and Fountains in porcelain thus enhance the beauty of your living rooms. You can use Wind-chimes, available in ceramic and aluminium. In my next post, I will discuss more about Feng Shui and how one can utilize this philosophy to bring in cheer to one’s life.

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]

A rental agreement is for short tenancies, usually for 30 days which automatically continues once this period is over, unless the agreement is terminated. In a rental agreement, the landlord can choose to amend the mentioned terms as long as he provides written notice to the tenant. However , the tenant has the right to occupy the property for a specified period at fixed terms, usually 11 months, in case of a written lease. However, unlike a rental agreement, a lease has to be renewed.

Please find below a list of important points that need to be thought upon, before taking a property on rent:

1. A tenant should know the prevailing rental rates in the chosen location and be aware that only an airtight rental agreement that transparently outlines his rights is acceptable. For example, it should be clearly mentioned who will pay the tax after mutual agreement between the landlord and the tenant. Also, a tenant should be aware that the landlord’s permission is required before initiating any major changes to the property.
2. The tenant should be wary of a clause allowing for automatic rent increases, arbitrary amendments to the existing terms of the agreement by the landlord, and any provision that permits the landlord to enter the property at any time.
3. The agreement or lease should be filled out by the tenant, or in the presence of the tenant.
4. There is no stipulation on the amount of security deposit to be paid by the tenant. It’s a commercial term determined between the two parties. Hence, the time to safeguard one’s safety deposit is before moving in.
   • Security deposit should ideally be paid in cheque to ensure that the same is reflected in their bank statements. Also, legal assistance should be sought to ensure that a proper clause stating that the security deposit would be refunded at repossession by the owner. There should also be a clause in the leave and license agreement of interest penalty on the outstanding security deposit amount in case the amount is not refunded. In such cases, the agreement should clearly highlight if the advance would be adjusted with the first or last few months of the lease. In case of security deposit, the amount and terms for its return should be mentioned.
5. The name of the landlord should be clearly mentioned in the property documents. The property papers, which include the occupation certificate and title deeds, should be in order.
6. The tenant can seek a copy of these papers if needed. If the landlord has carried out an illegal extension within the house, a tenant has to take a written record or have the landlord mention the same in the agreement . There is no such norm that the tenant should possess these documents. However, it’s in the best interest of the landlord and the tenant to have everything in written.
7. Similarly, if the property has any lien such as loan, then the lender should be involved in the transaction between the landlord and the tenant for the transaction.