Buying a home is one of the biggest decisions a family makes together.
This also has far reaching social and economic impact on family members. The
locality, the neighbors, infrastructure and what kind of home one buys, go on
to define the kind of life one would live.
There are many choices for a buyer. One can buy an apartment in a
condominium or buy a villa on an independent plot of land. For some,
Skyscrapers make their inhabitants proud and inspire awe in them. But some just
don’t like living in tall buildings with shared spaces. A few others want
to live in an Independent
villa, but can’t afford it. The high prices of land have made villas virtually out of reach of an
average Indian. The independent floors give a certain middle course that is
affordable and meets aspirations of a style-living oriented middle class
family.
An independent-floor apartment is a
residential unit with a few other flats in a low-rise independent building. The
number of units on each floor is one or two and therefore don’t have to share
the common space with many families. These buildings are generally mid –
height, offering the much needed visual relief, ensuring these are not
claustrophobic. These are also designed with ample space between different
blocks to afford a healthy flow of air and ingress of sunlight. These have
become important criteria for customers in post-pandemic world.
Buying an independent floor is clearly a lifestyle decision. This is so
because, an apartment of the same size in a high-rise will be available at
15-20% less cost. For a lot of people who go by utility of their purchase
decision, this premium over a similar sized apartment doesn’t make any sense,
but for few, it is the best decision they made. Also the flexibility of space
utilisation in independent floor is more as there are very limited common
areas. This also allows a buyer to give the space outside one’s home a
character that he wants.
However, builder floors have some drawbacks, if they are offered on a
standalone basis. Such independent floors do not have
facilities such as gymnasium, swimming pool, security and power back-up, that
all of the modern society apartments have. But if there are independent floors
on offer within a township, this is like one gets best of both worlds. An
independent floor with the sense of safety and security and the amenities
offered by a large well planned township is unparalleled in its value offer to
the buyer.
Independent floors offer a sense of space which can’t be compared with
an apartment. The privacy that this offers, also attracts buyers. The
discerning customers also like the opportunity to create the greens around
their home and less cacophonous surroundings. Another strong value that an
independent floor in a township offers is the “step in – step out” convenience.
What it means is that you could enjoy social life just by stepping out of your
home and be absolutely private the moment you step back inside.
Gardenia Residency in Paarth Republic Township on Lucknow- Kanpur road,
is attracting buyers with this unmatched combination and is one of the fastest
moving homes in Lucknow.
The debate as to which is a better investment opportunity – Real
Estate or Equity, when one is looking for high returns, is one that continues.
However, there are facts which clearly establish superiority of Real Estate
investment over equity investments. One of the most important reason in support
of it, is the lesser volatility of prices associated with RE prices. You could
not be away from the market, if you have made equity investments, while you
don’t check land prices every day and do it only when you need to sell.
Why Real Estate is a better investment than Equity
One point repeatedly put forward by Equity enthusiasts is that real estate is lumpy and illiquid. But what these people miss out is that wealth generation is not a target to be achieved in a few months or a year. It is meant to help achieve life goals over 10-15 years. Also, real estate generates supplementary cash flows in the form of rental income, which is almost always better than the dividend income one can expect from equity investments.
The nature of equity investments is such that the investor could
never predict the facts of how his investments would perform over a longer time
frame. Look at what happened in the case of a yes bank or a Reliance power.
People lost almost entire invested amounts due to wrong disclosures by
directors of these corporates. On the other hand, a real estate investment has
a material value that can be ascertained by anyone to a great degree of
certainty. This ensures that the best analyst and the worst in case of land
price will differ only by a few percentage points, while in case of equity,
this difference could be in 10s of percentage.
A certain group also propels equity investments through mutual funds
investment. Agreed, that mutual funds avoid the risk of volatility in only one
scrip, but the volatility is still much higher than Real Estate. Also, analyzed
over a long period of time, mutual funds have also not been great wealth
creators. And if they don’t serve this purpose, they lose the right to be
compared with real estate investment, which has helped people across India to
create wealth over years.
Another factor that supports real estate investments is the ability
of an individual to get funded at a highly subsidized interest rates by taking
a home loan, to buy a property. Can you get a loan to buy into equity? The fact
that one can fund the real estate investments through a loan results in taking
benefits of higher than calculated returns. If the price increase in property
has been more than the rate of interest on loan (which generally is the case),
one earns returns also on that part of investment that was done through home
loan money.
However, it is to be understood that the property should never be
used as a short-term investment tool. And one could argue in favor of an equity
investment for short term. Finally, the tax advantage offered on housing loan
both on the principal and interest amounts make the returns even sweeter and
therefore, property should always be a part of your investment portfolio.
We
are on a long road to recovery from the initial disruption created by the
pandemic. It, however, is sure that not everything will go back to how it was
pre-Covid. Somethings would have, perhaps, changed their character forever.
Future of work and home spaces
The
lockdown brought a huge change to the workplace. Work from home (WFH) became
the norm rather than exception. As per estimates from industry experts more
than 90% of 4.3 million IT workforce worked from home during lockdown. And it
seemed to have worked well, contrary to the early skepticism. The best part is
that both the employee and the employer seem to be happier with this
arrangement. While increased productivity warmed the hearts of employers,
employees enjoyed flexible working hours and savings in commute time.
Learning
from IT industry’s early moves, other industries also started to figure
out ways of getting a portion of workforce WFH without disrupting the work
ethics. Employers also saw it as an opportunity to reduce infrastructure and
administrative costs. Conferences and meetings went online, helping save
critical and expensive commute and helping organisations take swift decisions.
Also, employees could be close to families during these uncertain times,
especially when kids were home due to school closure. And there has been a vast
acceptance of these methods. Even the courts in the country, started using
video conferencing as a viable medium to do hearing.
WFH
also helped companies to tap into a pool of talent, which was not available
earlier. There were instances when employees were not willing to move places,
resulting in shortage of talent of a particular type. But with WFH becoming a
norm, this has no more remained a challenge. Also, people who left their homes,
leaving ageing parents behind, for a better life, could now shift back and be
next to their parents without affecting the work. This means very special for
women, who had to sacrifice their careers for commitments at home, suddenly
finding new opportunities.
Another
defining aspect of the pandemic induced work innovations has been a realization
by employers in industries other than IT, that remote work for a large
proportion of people in every industry is possible. As organizations tried it
under compulsion and found it working, it is expected to become a regular
feature going forward. This should result in continuation of these measures as
it works well for both the employees and employers. There was an announcement
by Deutsche bank with a plan to have almost 40% of its workforce working
from home permanently.
However,
there has been a flip side to WFH also. It is yet to be ascertained as to the
impact it will have on employee morale and loyalty over a longer period of
time. The lack of physical contact will affect the ability to group work,
ideate and solve complex challenges. This feeling of isolation could also
affect the mental well-being and may play havoc with self-confidence of
sensitive employees. As non-verbal part of the communication is not possible,
the exchange in certain situation could turn unhealthy. We can already hear
employees complaining about unstructured and long hours of work affecting their
life in multiple ways.
The
problem, in fact, extends beyond the mental well-being. The bedrooms and living
rooms are being converted to make-shift offices, which is an interference of
work life into personal space. Most of the houses in India are cramped and don’t have
appropriate office furniture, which may lead to health issues. As personal life
is intruded into, a lot of employees and their families may find this
experience awful. The ambient noise, at times, create embarrassing situations
for individuals and trying to hide from it could result in employees not being
at their normal self. Also, a large set of people have an extremely casual
approach to work, when in a relaxed setting, which may be off-putting for
colleagues in the work group.
What
then is the future of WFH in India? Basis the cost reduction it offers to
employers, there will be an increased traction to continue and enhance Work
from home. A large proportion of employees on other hand are already feeling
weariness of this change and may like to resume the normal office functioning
at the earliest possible opportunity. Multitude of work in offices, including
the IT corporations, require more than one teams and employees to work together
on a problem. Their synchronization has been critical for organizational
success. Keeping this and other factors in mind, most of the organizations may
be forced to resume operations like pre-covid times, once the scare is over.
However, a good solution can be blended office – working from home on specific
days and working at office on other days. This could be a winning solution if
proper planning with thorough understanding of each role.
This
new way of thinking will also result in paradigm shift in other industries. Real
Estate industry is the one that is expected to feel this change the most.
The market for office sales and rentals may face upheaval in short term. On the
other hand, residential developments in emerging and new locations may see an
uptick in demand. Challenges of working and managing office work from cramped
spaces will force people out of their homes in busy localities to look for new
and larger homes increasing the transactions. The noisy buildings located next
to a street as standalone building, will lose charm and large complexes away
from main road offering less noisy surroundings will gain prominence. It will
not be a surprise to see larger homes or apartments with an extra room
getting into favor, when compared with smaller homes. The locations with good
IT infrastructure will also find more buyers. Also, with travel and other
expenses down, the ability of an employee to pay the EMI amount would increase
substantially, giving him the confidence to invest in a bigger apartment.
As
the impact of WFH becomes clearer, we will know the way it impacts various
industries. One thing, however, is sure, that the housing real estate
industry is sure to see its best days. The focus will also shift from purely affordable
housing to apartment complexes located away from hustle bustle of
busy market areas. The large township projects will be in vogue and
certainly score over small city centric developments.
A township is like a mini town inside a large
town and provides plentiful amenities to give its residents a style and a
living, that is so different from living in a chaotic city of today. A
thoughtful mixture of business and retail areas, housing and open green areas
is, what ticks well with those selecting to live in here. Townships have gained
remarkably in style across the country thanks to numerous advantages it offers.
Let’s have a
glance:
Perks of Township Living
1. Unmatched Security
Equipped with advanced automation and
management systems to make sure safety, townships are being talked-about as the
most secure residential zones. The availability of CCTV and 24/7 observation
with guarded posts make these residential properties absolutely safe for
inhabitants.
Security could be a key concern for
families, particularly working couples.
The 3-tier security which ensures a secure perimeter as well as an eye in every
corner of township with the help of technology, is very reassuring for families
with kids and elders.
2. Best in class amenities
Apart from providing snug living areas,
townships provide a varied best-in-class amenities and comforts. Be it a
shopping area, a mini-theatre, party area or a sports space, townships provide
various comforts within one common campus.
Most townships given their sheer size are
delicately positioned off from town that directly implies – no traffic, no
pollution and no urban chaos, shaping it as a dream-come-true for its
residents. Townships facilitate and encourage ‘Living together happily’. The shared amenities not only ensure the
best experience but also allow residents to come together to enjoy these and
thereby forming common interest groups, which could also help in better
upbringing of kids.
Various clubs that encourage sports and
fitness activities like court games, football, basketball, cricket, running,
cycling, etc. Hobbies and crafts like artistic production, painting, and
sketching, etc. can be pursued inside the townships without worrying for
eternal interventions and provide a plethora of choices to the residents to
bond with one another. Celebration of
festivals, spiritual ceremonies, etc. take a distinct colour altogether, thanks
to the unique ambience a township provides.
The critical facilities within the
townships like health clinic and school ensure that a safe bubble is created
for its residents to enjoy life without a worry.
Open areas, parks, curated gardens, paved
roads and other such infrastructure which is well designed and modern, offers
peaceful daily life. Walk-to-Work
opportunities help improve work and life balance.
3. A city you co-create
Townships offer a great opportunity to its
residents to take an active part in its management. It ensures that you could
create a community which is more homogeneous and therefore, offers benefits
beyond physical comforts. It is a socio-economic zone that brings unparalleled
freedom to create new relationships and allows you to follow your passion. A
township offers residential dwellings for people from different socio-economic
backgrounds. However, the simple fact that all of them have chosen it away from
the chaos of the city brings that binding thread – the hope of building a
better future.
Townships have, therefore, been center of
excellence in learning and sport activities and outsiders have always watched
it with a desire. By bringing in a large aspirational population together, it
replicates a large city without the hassles of living with archaic infrastructure,
that is troublesome.
4. Eco-friendly Living
Townships are generally planned with
eco-friendly and pro-people options like ground-water harvesting, proper sewage
disposal, large greens etc. These ensure that one lives with lesser guilt of
consuming the natural resources and in fact, in some cases giving more than
what one is using. Some of the new townships also have solar power panels for
common area lighting etc and wi-fi enabled smart infrastructure. Such
infrastructure is future ready and offers long term health and economic
benefits.
There is absolutely no doubt that each one
of us want our children to grow up as responsible global citizens. Townships
can be looked at as the crucible for their experimentation. How? Simply because
it offers a possibility to work on one’s ideas at any age with fellow
residents, with whom one doesn’t have a direct relation but a common wire of
residentship. It is like a college alumni network, with a much wider landscape
and variety.
The children growing up in such green and
happy surroundings grow up as better citizens with love for ecology. That is
the first step for them to learn these lessons early in life in these settings.
5. A high life
Townships make it possible for mid-income
families to live in peace with beautiful surroundings, once they could only
dream earlier. This is one major difference which townships offer, compared to
stand-alone residential projects. The life inside a township is not very
different from the one offered in developed societies and which has remained
like a dream for a common Indian. With large group of similarly aligned people,
it is possible to live that dream for most of the people.
Another important aspect of life in a
township is the opportunity to rub shoulders with the best in society in
familiar surroundings. Townships offer residential facilities to people from
different strata of society and have some of the common features. Some of the
townships also offer some very special facilities. For example, Paarth Republic
by Paarth Infrabuild in Lucknow offers an international cricket stadium. Now
such a facility is not possible to have for a commoner in Lucknow, but just
because one is a resident of the township, it comes without any extra cost.
Also, a large population with affinity to
good lifestyle in one place offers a great market place to brands and they
provide the best products and offers to such communities. It is not very
difficult to see special privileges being offered to residents of such
townships due to an attractive and homogeneous market available to brands.
The advent of townships emerged from
attraction of suburban living, which embellished with amenities and security
offers comfort and lifestyle, which till a few years back, was a dream for most
Indians. No wonder then that these are the hottest selling dwelling units in
most of the cities.
Paarth republic with an excellent location
bang on Lucknow-kanpur highway and lose to airport, is rightly considered by
many as an “Island of opportunity”.
The
unpredictability of the pandemic and the negativity of news around, coupled
with the strain of adjusting to new realities of work, child-care and their
school, have almost everyone I know craving for a vacation. Yet with multiple
travel restrictions and quarantine process in place, a carefree getaway doesn’t
look like a great possibility.
However,
vacations are proven to be an important part of well-being. Various studies
show that people who took annual vacations are physically fitter and have a
better sleep quality. But in the given situation when stepping out of one’s
house is looked to be brought with risk, how does take a vacation. For those,
who don’t feel safe to venture out in the current circumstances or with
a newborn or an elderly at home, a
staycation can provide some of the same benefits- A chance to rest, a break
from usual routines, opportunities for freedom and play.
A vacation without leaving your home
In fact,
sometimes a staycation can be a better option than a vacation during holiday
season. Haven’t all of us faced frayed nerves, when we travel through the
crowded airports or railway stations? Remember the scenes of all tourist
places, which we see as pictures in newspaper around New Year holidays. Long
traffic jams and people all around don’t let you rest and often make the whole
experience more tiring. The only thing that is difficult to bring in a
staycation is the adventure that you may get in a travel.
Here are
some ideas to have adventure without leaving your home:
If you stay
in a well-developed housing complex by a reputed developer, you can find enough
places to go out on a picnic within its perimeter. You can involve a couple of
families more and organize a small singing party around fire and order food
from outside. This could be more fun than your vacation at any hotel in a
tourist place.
If you like
reading books and watching movies, get your best picks and enjoy with these.
With some of the largest hotels, like Taj in the town offering a home dinner,
you can just relax and get a sumptuous dinner served to you by the best in
business. This could be a wonderful surprise to your spouse and kids, and will
cost you a fraction of cost that you might have incurred on travel otherwise.
Camping out
is another idea that excites young and old alike. If you are living in a
township, you can find enough nice places to camp out an evening. You can have
a bonfire and the whole family can cook together. The whole experience will be
a learning experience for kids and stress relieving for elders.
Home swap is
another wonderful idea during staycation. You could do this house swap with a
relative or a friend for a few days. If you are part of different housing
complexes, you will enjoy a different life around you. The flora and fauna and
the whole routine change itself will have a very calming effect.
These
adventurous ideas will make your life take a break from routine and will have
similar benefits as when you go out on a vacation. With wonderful facilities
and large green areas, Paarth Republic Township in Lucknow offers you an
opportunity to take a vacation without stepping out of the boundaries, which
keep you safe in these uncertain situation.
City of Lucknow, inhabited on the two sides of river Gomti, is a beautiful city that transitions from old to new in a matter of a few kilometers. The core of this city is its historical monuments, which are juxtaposed with glass and steel facade of state-of-the-art constructions. The old bazars are still attracting crowds for their variety, while fashionable malls are equally liked by new age city dwellers. The tranquil locales, modern infrastructure and a relaxed lifestyle has been attracting people from all over to make this city as their home for years and with time, its charm has only increased.
5 reasons why one should buy property in Lucknow
Today,
Lucknow has emerged as one of the country’s most important cities. Lucknow is
now emerging in various sectors such as retailing, manufacturing and IT after
securing its position in the smart cities of India, thanks to a proactive
government. As
a natural corollary, the city is attracting many developers and homebuyers with
the growth of new infrastructure. Here is a list of top 5 reasons, why one
should look at investing in a good property in Lucknow.
Lucknow
Metro – Every city in India has faced chaotic traffic as it
grew. Lucknow, however, escaped this due to visionary planning of
infrastructure agencies. The metro rail work was started ahead of time and
resulted in being ready when the city would have faced challenges of traffic.
It makes moving around in the city very comfortable.
Connectivity
with the world – Lucknow boasts of a modern international
airport and a railway station connected to almost every city in India through
an efficient network. Unlike most other cities, both these places have
excellent connectivity with rest of the city. The Shaheed path connecting to
airport from the developed areas of the city is a testimony to the foresight of
city planners.
Recreational
facilities – Lucknow has many places to spend a day either in
complete relaxation or by engaging in an activity one likes. Two cricket
stadiums in the city, with the latest one, Atal Behari Vajpayee stadium even
hosting international cricket matches, have brought the most played game in
India to its residents in a spectacular fashion. The museums, cinema halls and
a host of other such facilities ensure that one never feels lack of recreation
options in this city.
Medical
and educational infrastructure – This city rubs shoulders
with the top metros of India, when it comes to educational and medical
infrastructure. With top schools and colleges, an IIM, a AIIMS equivalent
hospital with multiple top notch private hospitals, Lucknow offers a peace of
mind like no other similar city in India. The city provides the best
environment for a child to engage in various activities, while studying for a
multi-faceted development.
Modern
retail – Lucknowites have adopted to modern retail like fish
to water. Latest malls like Phoenix and Fun republic have attracted and
introduced people to the best national and international brands. The ubiquitous
fashionable city dweller, mixing with the people in traditional attire make
this city as lovely as one could get.
There
are a few locations which have harnessed these advantages to the maximum. A
couple of residential complexes, Arka and Aadyant by Paarth Infrabuild in Gomti
Nagar Extension, located right next to Phoenix mall and Atal Behari Vajpayee
stadium, bang on Shaheed path are the kind of location, one can only imagine
for that coveted home.
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