Real Estate Terminology: Part 3

Posted on October 10, 2015 by Anukampa

Continuing with the series, take a look at more such terms.

Capitalisation

At a given date the conversion into the equivalent capital worth of a series of net receipts, actual or estimated, over a period.

Catchment area

The area of land which finds its way into a particular watercourse, lake or reservoir.

Central business district

Generally the area of highest land value within a city. The functional centre in the city with shopping facilities, office accommodation, leisure facilities, buildings for recreational use, public museums, art galleries and governmental functions are found.

Clearance area

An area which is to be cleared of all buildings. Generally promulgated by way of a government declaration, which is normally followed by the acquisition of the land and the clearance of the area.

Completion certificate/statement

A statement prepared by solicitors, usually those acting for a purchaser and a vendor respectively, following the conveyance of an interest in property, giving a schedule of sums received leading to a balance being the final amount due to the vendor. In some case the statement is prepared at a later date and may show a figure recoverable by the purchaser from the vendor.

Conveyance

A document transferring title to land from one person to another.

Current yield

The remunerative rate of interest which is, or would be, appropriate at the date of valuation, assuming the property to be let at its full rental value. It will be the same as the reversion yield where the reversion is to full rental value, and the same as the term yield where the rent receivable under the lease is full rental value.

Ways to spend time with nature and be healthy!

Posted on October 2, 2015 by Anukampa

Here are seven easy ways to enjoy the benefits of nature!

Make ‘being outside’ a ritual. Go for a morning or evening walk every day. And if you have one, bring your pooch—Exercise is good for fido, too.
Try gardening. From a planting vegetable garden to planting a few flowers, both activities get you outside regularly and communing with nature.
Take vacations in beautiful places. For your next scheduled break, visit a state or national park or go to a beautiful beach—whatever landscape speaks to you!
Find a trail. Whether hiking or biking is your speed, there are trails around the country for you to explore. Find one near you at trails.com.
Sit outside. We’re always so on-the-go. The next time you need a break, try sitting outside quietly and just appreciate the natural beauty around you! Notice the scents, sights and sounds as you sit quietly and focus on the moment.
Go to a local park. Ask others in your neighborhood which park is their favorite to visit. Then the next time the weather is good, trade your usual gym workout for an outdoor one!
Commit to the outdoors, rain or shine. When you’re layered properly, you can enjoy the outdoors in any season, cold, wet or hot. Don’t forget about the fun and healthy outdoor activities available during the rainy or cold months—these are the times that we have even less outdoor interaction, but may be when we need it the most!

Know the terms about your property-Part 2

Posted on September 27, 2015 by Anukampa

In continuation with the previous blog on real estate terminology, this blog briefs you on the terms that will help you understand things better.

Encumbrance Certificate: A report issued by Registrar of Assurances or Sub-Registrar’s office after due verification of the relevant documents certifying that the property in question is free from all encumbrances such as mortgages, leases, easements or restrictions.

Efficiency ratio: Efficiency ratio is expressed as a share of carpet to super areas of the property.

Floor Space Index (FSI): Floor Space Index is the quotient of the ratio of the combined gross floor area of all floors excepting areas specifically exempted under these regulations to the total area of the plot.

Maintenance charges: These are charges taken by the maintenance society towards the maintenance of the property which includes costs of generator sets, security, landscaping, and common areas.

Market value: Valuation process evaluates the market value of the property. Demand and supply forces in the market and factors like type of property, quality and construction, its location, infrastructure and available maintenance are taken into consideration. Market value of the property is the price that the property commands in the open market.

Occupancy Certificate or OC: A certificate issued by the local development authority certifying that all necessary works have been completed as per the sanctioned plans and that the property is fit for occupation. The OC is issued after clearance from the water, electricity, sewerage, fire fighting authorities etc.

Registration charges: The fees associated with getting the legal title registered in your name. This legal process takes place in the sub-registrar’s office in your local court.

Super area: This is as a rule regards to the entire area of the building which includes carpet area, lobbies and corridors, walls, lifts, staircases, basements, and other atrium and utility areas.

Stamp duty: Real Estate Stamp duty is a type of tax accumulation by the Government of India. Stamp duty is established on the agreement value or on the market value whichever is greater.

Sale deed: Sale deed provides the buyer the absolute and undisputed ownership of the property. With this law, the seller transfers his right of property to the buyer. Subsequently, it is executed to the execution of the sale agreement and after compliance of various terms and conditions detailed in the agreement.

Title: The document that provides legal evidence that the person has the right to the possession of the land.

Are you paying for the Negative Space?

Posted on September 18, 2015 by Anukampa

While buying an apartment or an office, make sure to analyse the quality of the architectural plan, so that you do not end up paying for the space you will never be able to utilise. This space is called ‘Negative Space. Negative Space is the area which is not effectively used while construction. This part of the property is often neglected, used inappropriately as an afterthought.

The term ‘Negative Space’ comes from the world of art, where it was used as a composition tool between objects in both two- and three-dimensional work. However, in times of rising property prices, shrinking living areas and smartly designed homes, there should be no room for space that is not utilized efficiently.

Having no negative space in an apartment means, having no neglected or unutilized areas on the floor plan. Since the cost of your purchase is calculated on the basis of square foot area, every inch matters.Smartly designed apartments and other properties will always have the layout in such a way that your property smartly uses every inch of the space you’ve paid for, while providing you an airy, efficient and comfortable living / working area. Browse through 2 & 3 BHK modern lifestyle apartments in Jaipur that offer you zero negative space with the Anukampa Group.

Know the terms about your property!

Posted on September 13, 2015 by Anukampa

It is really important to understand the real estate terminology as it helps an individual to know more about the properties. If you want to understand real estate development, you need to know the key terms used to describe properties whether you’re developing the properties from the ground up or acquiring and renovating them.

Real Estate Broker –A real estate broker or real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy.

Common Area Maintenance (CAM) – This is the amount of additional rent charged to the tenant to maintain the common areas of the property shared by tenants. Typical examples include such work as landscaping, snow removal, exterior lighting, as well as insurance and property tax.
Usable Square Footage –USF is how much actual space you will be able to use. Rentable square feet is how much space you’re paying for, including shared common areas. The measurement called a load factor is the difference between RSF and USF, expressed as a percentage of USF
Escalation Clause – A clause in a lease which allows the landlord to increase the rent in the future to reflect changes in expenses paid by the landlord, such as real estate taxes, operating costs, etc. This can take three forms: 1) fixed periodic increases, 2) adjustments based on the Consumer Price Index (cost-of-living increases), and/or 3) an increase tied to the increased costs of operating the property.
Tenant Improvements –The real estate definition of Leasehold improvements, also known as tenant improvements (TI), are the customized alterations a building owner makes to rental space as part of a lease agreement, in order to configure the space for the needs of that particular tenant.
Full Service Rent – This refers to an “all-inclusive” rent that includes operating expenses and real estate taxes for the first year. The tenant is generally still responsible for any increase in operating expenses over the base year amount.

Invest in the best locations!

Posted on September 7, 2015 by Anukampa

Before you make any investing decision, sit down and take an honest look at the entire location — especially if you have never made an investment plan before. Investing in a real estate is good if you finalise a proper location in which the money shall be invested.

Anukampa Platina is being constructed at Iskcon Road, Mansarovar Ext., Jaipur. Mansarovar extension for now is the best place to invest and is counted among the fastest developing locations around the city. The place is centrally located and has all the brand market around.

Most of the new brands and companies are focusing majorly to set in their businesses at Mansarovar extension. Very soon the shopping malls and hang out places for youngsters will set in here.

Staying close to nature and away from the hustle bustle of the city the property brings nature to your doorstep. Health is the fashion statement that people prefer to follow these days.

Mansarovar Extension is the hottest selling and investing place for property purpose right now. Providing all the necessary amenities and the luxury inside the Platina arena, Anukampa is the best real estate to invest in.

Don’t miss to step in the Anukampa Platina and book your flat with us!

Festive Décor Tips!

Posted on August 28, 2015 by Anukampa

Festivals are all about having fun and bringing in a breath of freshness into your life. And the best way to start doing that is to give your home a makeover and get friends over to celebrate with laughter and happiness.

When it comes to festive decorating, often simpler is not only more manageable, but is way more elegant. By working with some beautiful LED’s and scattered fresh greens around the house, and even just gracefully arranging sweets, you can take your traditional decor to a whole new level.

Here are some easy tips on giving your home an instant festive makeover.

Refurbish the Layout
One of the easiest ways of giving your home a makeover is to refurbish the layout of your home. From the drawing room to the bedroom, work on creating a new furniture layout. Add a few statement furniture pieces or décor elements like artifacts in boring corners and light up dull areas to create that warm festive glow.

Light up
Use nest tables and side table to flaunt interesting artifacts. Don’t forget to light up right with table lamps and such to give a warm glow to the whole room.

Mix and Match Centerpiece
We can put up a five-second centerpiece i.e a mix of clementine’s or oranges and peppermint balls in single glass compote and put up on the table. This will beautify your dining room and you can invite guests for dinner or lunch.

Showcase a Vintage Collection
Get the curtains of vintage ornaments. The vintage element adds the essence of traditionalism to the room. The vintage curtains are a new black for the festive season.

Happy decorating!

Nature at your Doorstep!

Posted on August 20, 2015 by Anukampa

‘Study nature, love nature, stay close to nature. It will never fail you’.

Do we actually find time to go outside and appreciate nature’s scenery? Do we bother to step out and smell the flowers or soak ourselves in the Vitamin D rich sun rays in this technology driven scenario? Do we actually feel the importance of fresh oxygen for our kids and future generations?

Although all of us must be going out on vacations to hill stations and almost all of us have been awestruck by nature at one time or another. Whether it’s jogging before the sun rises, or even hearing the wind blow through the trees in the morning, being outdoors and aware of the world’s beauty is something that can make you feel energized and alive.

Spending time outdoors with nature leads to many health benefits that contribute to an increase in mental and physical well-being. Here is how the real estate companies are coming into existence and bringing in a lot of ways to make you stay close to nature as they understand how important it is to stay close to nature.

They are putting nature to priority, as it is really important for kids and teens to play outdoor games and grow up smart mentally and physically.

Nature has the power to refresh our mind, body, and soul. It is extremely important to find out time to visit outdoors from your demanding schedule and enjoy the healing benefits our nature has to offer. Spending time outdoors is a great healthy habit to adopt.

Take a break and step out of home because we provide you everything at the doorstep!

Buying a house was never this easy!

Posted on August 14, 2015 by Anukampa

The festive season is buzzing and people find it to be the perfect time to buy a house. Earlier, it was really difficult to buy a house but now a days the real estate companies and the banks offer many schemes for the people who have a dream to buy their own house. To let your dreams come true at affordable prices, developers have brought in the most advertised, and probably the most innovative, and of interest, the subvention scheme. Though these schemes have been in existence for few years, but a larger population wasn’t aware about this. Now the developers are advertising it to attract buyers.

How does this scheme works?

There are three parties-the buyer, the banker and the developer. The buyer books the property by paying 5-30% money upfront. The bank in the form of loan pays the rest of the amount to the buyer. The bank disburses the loan to the developer as construction progresses. The most important aspect is that the developer bears the interest cost till possession or for a fixed period mentioned in the buyer-seller agreement. The subvention scheme is preferable for those who stay on rent as they will not have to bear the burden of both the loan equated monthly installments (EMIs) and the rent while their house is under construction. It is an added advantage for the customer as the developer is bearing the interest cost till the construction is on. This is an incentive for the buyers at a time when project delays are so common.

How it benefits to the developer?

In view of tight liquidity with banks, when they are not willing to lend directly to developers, such schemes provide the builders an access to the funds, and that too at a low rate. It also helps buyers, who do not want to commit a big sum upfront as the project might take up more time than the committed period.

Benefits of having Rainwater Harvesting in your building

Posted on August 7, 2015 by Anukampa

Although close to three-fourth of our planet is made of water, not all of it is suitable for use. The water in the oceans and seas cannot be used as drinking water and little of it can be utilized for other purposes. As a result, there is a constant shortage of water that is either good for drinking or home and industrial use.

Rainwater harvesting started spreading to areas where there was plenty of rainfall. As a result, the modern day rainwater harvesting system was bought into place. The idea behind the process is simple to collect the rainwater when it falls on earth, store and utilize later.

To reduce the consumption of groundwater, many people around the world are using rainwater harvesting systems. This practice has been around for thousand of years and has been growing at a rapid pace. Utilizing the rainwater harvesting system provides certain advantages to the community, which includes:

1. Easy to Maintain: Harvesting rainwater allows us to better utilize an energy resource. Systems for the collection of rainwater are based on simple technology. The overall cost of their installation and operation is much lesser than that of water purifying or pumping systems. Maintenance requires little time and energy. The result is the collection of water that can be used in substantial ways even without purification.

2. Reducing Water Bills: Water collected in the rainwater harvesting system can be put to use for several non-drinking functions as well. For many families and small businesses, this leads to a large reduction in their utilities bill.

3. Suitable for Irrigation: Rainwater is free from many chemicals found in ground water, making it suitable for irrigation and watering gardens.

4. Reduces Demand on Ground Water: With increase in population, the demand for water is also continuously increasing. The end result is that many residential colonies and industries are extracting ground water to fulfill their daily demands. So, rainwater harvesting helps to reduce the demand on ground water.

5. Can be Used for Several Non-drinking Purposes: Rainwater, when collected can be used for several non-drinking functions including flushing toilets, washing clothes, watering the garden, washing cars etc. It is unnecessary to use pure drinking water if all we need to use it for some other purpose rather than drinking.