How will GST Impact on Indian Real Estate Sector

How will GST Impact on Indian Real Estate Sector

Goods and Services Tax (GST) is considered to be one of the biggest tax reforms in many years. This was proposed initially 10 years back and it took more than a decade to become a reality. Finally, on 1st July 2017 GST was presented in a special early morning session in Indian Parliament. It is supposed to make the tax regime simple and transparent. It is also considered to be helpful in doing business in India. Unfortunately, it has come out with a lot of confusion and uncertainties. We will be writing about on various methods by which GST will impact Indian Real Estate industry. Also Read: 9 Tips for Buying and Selling a Home at the Same Time Let us first look at the list of raw materials that have been affected by new GST rates. Cement: increased by 2% Coal, Limestone and lignite: Decreased by 5% Now Let us look at how GST has changed the taxation when it comes to home buyers. Previously one had to pay VAT, service tax, Stamp duty and registration charges while buying a home. Also, this varied from state to state and depending on the construction status of the property. With the new GST, regime taxation is simplified. Now there is no VAT and service tax instead only GST. In addition to GST Stamp duty and registration, charges are to be paid which remains the same. GST has also changed the tax rates for the home buyers. To provide clarity for home buyers, have a look at the tax break down under GST for home buyers. Tax Percentage of GST on...
Tips for Choosing and Applying the Right Paint for Your Home

Tips for Choosing and Applying the Right Paint for Your Home

Painting the home is both fun and also a challenging task. There are many aspects of painting which needs to be considered and taken into account before you decide the color and painting. This blog will be discussing in detail about various factors and tips for choosing and applying the right paint for your home. Also Read: 5 Tips to Select Exterior Paint Colors for your Home 1. Know the types of Paint There are 2 types of paints available in market namely Oil and Latex paint. Clearly, latex paint is the most preferred choice as it is easy to clean and it also has a much longer lifetime compared to oil painting. On the other hand, oil painting is good for wood mainly your windows and doors. 2. Sheen Types There are different types of sheen available, chose the best which suits your needs. Matte: No shine and best suited for living rooms and ceilings Flat Enamel: This is also similar to matte with no shine, but easier to clean. Eggshell Enamel: This has a mild shine and can be easily cleaned with damp cloth. Best suited for kids rooms. Satin Enamel: This has the right amount of shine and is most recommended for your kitchen and bathroom. 3. Look for Inspiration When it comes to picking paint colors, you need a lot of inspiration. One of the best places to find inspiration is Pinterest. Just go to the site and search for paint colors and home design. You will find some amazing photos which can guide you to choose colors 4. Buy Testers: You can buy tester...
9 Tips for Buying and Selling a Home at the Same Time

9 Tips for Buying and Selling a Home at the Same Time

Searching and buying a dream home in itself is a highly challenging task and when this coupled with selling your home too, it becomes even more difficult. This article will be your guide when it comes to buying and selling a home at the same time. Also Read: The 5 Greatest Benefits of Investing in Real Estate 1. Sell before Buy If you are planning to buy and sell property at the same time, then selling first and buying later is the best and the safest option advised by many experts. When you sell first you have the following advantages namely You know exactly how much money you have. You can estimate the budget for new home much better You can plan your finances easily 2. Close previous loan If you buy a property without selling the existing property then you will run the risk of paying 2 EMIs each month which will burn your savings. Also it is difficult to get a second home loan when your first loan is still running. For this purpose, it is suggested that you sell the property and close the loan and apply for a fresh loan while buying again. 3. Need a Transit space If you sell first without buying, then you need a place to stay or store things. It is not easy to rent homes for a short period in India and you might end up paying a lot. Though sell first, buy next is the safest option, do consider the risk of finding a temporary place to stay. 4. Gives you more time sell for best price If...
9 Vastu Tips to Keep in Mind Before Buying A Home

9 Vastu Tips to Keep in Mind Before Buying A Home

Whether you are buying an individual home or an apartment, it is safer and better to check for Vastu compliance. You don’t need to hire an expert Vastu advisor for this, instead, you can just use this article as a reference. All you need is a compass which shows the direction. With a compass and this article, you can test the Vastu properties of a house easily. Also Read: Top 10 Vastu Tips for your Kitchen 1. Entrance: This is the key to the house and that’s where you enter and exit the house on a daily basis. Due to its significance it’s highly recommended not to make any compromise on this aspect. The main door should be located in the north or north-east direction of your home. Any house with the entrance in south-western direction should be avoided at any cost. Note: If you are buying an apartment and not an individual property, then the entrance to your block is considered as the primary entrance and not your door. 2. Kitchen: This is where you clean and cook food which is the basic factor for daily life. For optimal effect, having the kitchen in the southeast corner is the best option. Try to avoid homes which have got the kitchen located in the north or east direction. 3. Bathrooms Both bathrooms and toilets are best placed on the southern or southwest corner of the house. Don’t buy properties where toilets are placed adjacent to the kitchen as this is not proper Vastu 4. Kids room This is one of the core Vastu concepts which are rarely given importance...
10 Mistakes to Avoid When Building a Green Home

10 Mistakes to Avoid When Building a Green Home

A green home is one of the best inventions in recent times in the field of construction and civil engineering. Green homes are helping our environment stay pollution-free and also are highly energy efficient. There are many aspects of a green home construction, we will be writing about 10 possible mistakes that you can avoid while building a green home. Also Read: How to Cut Down your Electricity Bills 1. Building away from Sunlight This is a big mistake when it comes to building a green home. One of the primary sources of energy for green homes is solar energy which is derived from sunlight. When you buy your plot, make sure it gets direct sunlight. In some cases, nearby tall buildings might cast their shadow on your home. 2. Building Big People who opt for green buildings generally consider building a bigger house with a lot of rooms and ample open space. Though open space is an integral part of the green home, it is important that you remain conservative while building. Don’t go for big just because you can afford it. Build only what is required. 3. Destroying the ecosystem The primary objective of a green home is to keep the environment clean and untouched. It is important that you don’t build in a new area. When you build in a new area, you might need to cut down trees and plants which might grow there. If you build in a forest area, you will endanger the lives of species living there. It is advised to construct in villages or towns compared to the forest. 4. Not...