Real Estate

Everything you would like to understand about stamp tax on property

March 8, 2022 0 Paarth Infrabuild Real Estate

We all know that owning a Property (Residential or commercial) is not only one of the biggest financial decisions that you will make in your life but also a very daunting task in itself.

The Process itself is so draining that it keeps us on our toes and is bound to be a vigil at every step, Let it be a site visit, trusting a developer, getting it right, and once the sales are completed other expenses like Stamp duty, registration, and whatnot. It is an experience of a lifetime, while buying a property, the identification, payments terms, loan, etc. are expected to be completed with a lot of leg work.

A very highly ignored step is that of the property buying experience is that of possession and registration of the property. Once the possession of the property is being handed over, it is the responsibility of the buyer to register the property in her / his name.
Physical Possession of the property I merely the 50% of the job done, however, the rest 50% is the paperwork that is as necessary and important as the physical Transfer. The legal evidence of the property owner is the job that is to be finished at the buyer’s end.

There are a few of the steps that are to be followed religiously in order to make the deal complete.
1. Property registration in the buyer’s name in the local municipal records, the documents should clearly state that the seller has transferred the property in the name of the buyer.

2. What is stamp duty?
Stamp duty is a kind of tax, very similar to income tax, which is collected by the government. Stamp duty is payable under Section 3 of the Indian Stamp Act , 1899. Stamp Duty must be paid fully and on time.

3. Delays in paying of Stamp Duty – in case of a delay in the payment of stamp duty, it attracts a penalty. A stamp tax-paid instrument/document is taken into account as a correct and legal instrument/document and has evidentiary value and is admitted as evidence in courts. Document not properly stamped is not admitted as evidence by the court.

4. Why is Stamp duty Collected – at the time of registration the stamp duty is collected by the local state government. The amount of the stamp duty is varied from state to state, kind of property (Old or New) the circle rate. Overall the stamp duty adds up to the overall value of the property for the buyer. The best advice would be to get the information about the stamp duty beforehand
5. Buyers Liability – in regard to the agreement of sale, it is the prime liability of the buyer to pay for the stamp duty as stated by the authority books. If discussed and agreed upon, the buyer and the seller can share the stamp duty equally or as per the decided terms as shared and accepted before the sale deed.

6. When is the stamp duty payable?
The Stamp duty is payable much before the execution of the document or at the max, it should be paid on the date of execution of the document or on the next working day of executing such a document. Execution of the document means putting a signature on the instrument by the person’s party to the document.
7. Penalty charges due to delay in Stamp duty Payment
As per the government laws, Any delay in duty payment will attract the amount of 2% per month to the maximum of 200% of the deficit amount of stamp duty. Stamp papers are to be purchased in the name of either of the parties, i.e, seller or buyer involved in the agreement, failing which will disable the stamp paper. Stamp papers are said to be valid for six months from the date of purchase, only if the duty is paid on time.
8. Who is liable to pay?
Ideally to be paid by the Buyer but In the absence of any agreement to the contrary, the purchaser/transference has to pay stamp duty or in case of an exchange of properties, both parties need to bear stamp tax equally.

9. How to Sign the Instrument?
According to the provisions of Section 12 of the Indian Stamp act 1899, any person executing (Signing) an instrument—affixed with an adhesive stamp—shall cancel the adhesive stamp by writing on or across the stamp his full name or only the initials. If such an adhesive stamp has not been cancelled in an aforesaid manner, such a stamp is deemed to be stamped.

10. What is the instrument?
Any document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished, or recorded. The duty is payable on instruments and not on transactions. Stamp duty should be charged on the idea of the contents of the instrument only. If any information essential for working out stamp duty is missing in the instrument, the valuation officer can call for it. Information such as the area of the flat, number of floors, and year of construction must be mentioned in the agreement for a quicker response.

11. How should instruments stamped with an impressed stamp be written?
As per the supply of Section 13 of the Indian Stamp Act , 1899, any instrument on an impressed stamp, shall be written in such manner that the stamp may appear on the face of the instrument and can’t be used for or applied to the other instrument i.e., cancel the adhesive stamp so affixed by writing on or across the stamp his name or initials. If such an adhesive stamp has not been cancelled in an aforesaid manner, such a stamp is deemed to be unstamped.

12. Is stamp tax payable on all instruments/documents concerning the transfer of immovable property?
Any transfer of immovable property or documents shall attract the stamp duty, Except for transfer by Will (or by original nomination in a co-operative housing society) all transfer instruments/documents including agreements to sell, conveyance deed, gift deed, mortgage deed, exchange deed, partition deed, power of attorneys, leave and license agreement, agreement of tenancy and lease deeds have to be properly stamped before registration.

It is clarified that when a nominee transfers the flat subsequently in the name of the legal heirs, that transfer instrument should only be stamped as per the market value. If the flat has been purchased in a co-operative housing society on or after 10-12-1985, the buyer has to pay the stamp duty on the market value as per the Ready Reckoner. A flat purchased through an agreement purchasable on or before 9-12-1985 required stamp paper of Rs. 5 only. Sounds a bit old but However, a flat purchased on or before 9-12-1985 will require stamp duty on the market value at the time of conveyance of the property in favour of the society. The concept of payment of stamp duty on market value was introduced from 04-07-1980 will be charged on agreement value only.

My Journey from a village to Sushant Golf City Lucknow

Every Teenager has the ambition to make it big, bigger than his father, close relatives, stand out among friends, or maybe prove himself that his dreams are realistic. Especially when he is from a so-called “C” town or a village. To make a lifestyle, a big house, a luxury car, and whatnot. And that sets him apart from his other colleagues. I was nothing different. Little did I know that a villager like me was going to be a part of the residents of the Sushant golf city, Lucknow. . . sounds like a dream and it did come true.

The first and foremost memory I had was traveling to Lucknow with my father for a relative’s wedding when I was hardly 7-8 years old. We went to Sushant City and attended a wedding. Honestly, I didn’t remember anything about the wedding but the memories of the wide roads, the dividers between the road, organized traffic, nice clean and beautiful houses, trees on both sides of the road making it look like an infinite, and then One huge green land, the mere lushness of greenery took me off my foot and I just wanted to go up there and play cricket with my friends, Little did I knew that was a Golf course at Sushant city, Lucknow.

The relative we went to was the resident of Sushant City Lucknow and I was so amazed by the grandness of his home, maybe somewhere in my subconscious heart, I decided to live in such a house when I will make it big. We also went to that huge green land in the evening and I kind of took off, running everywhere, finding some golf balls and the moment I bend to pick one, my father scolded me and I took off again, tried some offbeat shots from that golf stick too. . .

Cutting the long story short, I worked hard and against all the odds landed up in Lucknow for my job. And the moment I landed in Lucknow, I reached Sushant Golf City and went back a long way in my memory lane, the words that came out were. . Wow, I was at the place where I dreamt for so long. Those fresh feeling roads, nice and clean neighborhood, the greenery was even more green, and the golf course, it was the same lush green course and to my surprise, I saw the amenities that are required for a dream place to be at, Walmart, Multi-specialty hospitals, International schools, and on the way I saw a nice multi-story apartment, which got me more curious as the place doesn’t have may multi-story apartments.

I went ahead and checked about the apartment, it was named as Aryavarta Empire. I checked out from their newly constructed Marketing Office and Sample flat, it was just what I wanted, the dream place, 2, 3 and 4 BHK Flats, and the most important very spacious. All the amenities were very close by, let it be Shopping, Hospitals, Schools, golf course, even ISKON Temple, and the facility of transport was also very convenient and smooth. The connectivity from the area to the Railway Station or the Airport was surprisingly easy, the main markets like Hazratganj, Malls, Old Lucknow, recreational parks, educational institutions, and workplaces are too very easy to commute. Even my office which is located in Gomti Nagar was hardly 15 minutes drive away from Sushant Golf city and my house at Aryavarta Empire.

And that is when I decided that this is going to be my nest for the rest of my life, Aryavarta empire was not only about the surroundings, the project within had a lot to offer, like, Basketball court, Kids Play area, Gymnasium, Banquet hall and a lot more. The calmness of the place with the required amenities just took my heart and with a happy heart, I started my journey for which I dreamt of since my childhood.

But when you buy a house, you have a lot to check, like the reputation of the developer, Past track record, delivery status, Rera Compliance, and whatnot.

And to my surprise, the developer has already handed over a couple of projects like Paarth Aadyant, Goldfinch and has a reputation of trust in the city of Lucknow. They are RERA compliant and have tied up with government and private banks for the easy loan process. And that’s when I was relieved and started to plan further about getting my parents to the city and possibly buy a flat for the next door so that we can live like one happy family. . . and that is all that matters.

Importance of having a bigger home especially post Covid

January 20, 2022 0 Paarth Infrabuild Coronavirus Real Estate Residential Properties

Covid 19 has brought an unprecedented cultural and humanitarian challenge. As it threatened to bring all activities to a standstill, most of the large companies acted swiftly and created a new protocol of working – WFH or Work from home. Organizations will be required to continue re-imagining the intersection of office and home to create safe, secure and enjoyable work and living spaces.

Following the lock-down, a majority of the workforce has been forced to work from home. Many people would have been forced to make quick changes in their homes, to accommodate this new lifestyle. However, others may have been faced with space constraints.

Consequently, the demand for larger homes may grow significantly in every city, along with the ticket size of these purchases. Thankfully, factors like record low home loan interest rates, stable property prices and easy availability of ready housing stock in India’s prime residential markets, could ensure that buyers do not have to postpone their home purchase because of monetary constraints.

Along with the work, the learning spaces also shifted to homes. The kids need noise free, private spaces to be able to attend to their online classes peacefully. This has been pushing a lot of families to stress as there is insufficient space available to accommodate this new requirement. This again results in a situation where people are forced to redesign their homes or to buy a bigger home with extra rooms.

For millennial, stepping out of their homes for entertainment or leisure, was an integral part of their daily lives. The absence of open spaces, such as a balcony or a courtyard, within the house was never an issue. Moreover, in space-constrained cities, people often covered the available open spaces, to make use of every inch of space. This is likely to change and even after the lock-down is lifted, people will seek open spaces to relax and rejuvenate. The lock-down will make people understand that open space is just as important as storage space.

Extended lock-down periods, gym closures and limits on time spent outdoors, has made many people feel the importance of exercise for one’s mental and physical health.

Many buyers are now seeking flexible space in the home to accommodate gym equipment and space to exercise. This could be allocating a spare bedroom to be turned into space for a home gym, or creating a dedicated space to accommodate working out at home.

The additional emphasis laid down during this period on keeping one healthy to improve his immunity has further highlighted this requirement. This generation anyway has been more focused on healthy lifestyle. It just adds up to the desire of buying a bigger space when looking for home right now.

It is no secret that the Pandemic has forced people to make new adjustments keeping in sync with the requirements of new ways of operation. Getting a larger home is top of the heap and it will be no surprise to see huge upswing in the demand of the larger homes as we go forward. Luckily the home prices have been at a low and home interest rates have been benign, which augurs well for customers as well as the Real estate developers.

Should you buy or rent your next house in Lucknow?

January 17, 2022 0 Paarth Infrabuild Lucknow Real Estate Residential Properties

Deciding to buy a flat or apartment is one of the biggest decisions of your life. Buying a flat is once in a lifetime opportunity for many of us. The rising price of the flats/apartments and high rate of interest in the market makes it very difficult for buying a flat or apartment. It does take loads of thought before coming up to the final decision. Owning a flat does take a lot of investment and it is difficult to make payment upfront. So we seek for Equitable Monthly Installments (EMI). This arises one of the biggest questions in the mind that what is best Buying or Renting a flat or apartment?

Each option has its merits and demerits. One of the most common argument is that instead of paying rents you can use rent amount to pay EMIs’ and own a flat or apartment at the same time. But you should be very clear whether to buy or rent a flat or apartment. The following points can help you in making your decision.

Merits for Buying a flat

Capital appreciation: Real estate investments do appreciate over a period of time.
Tax advantage: Owning an asset, benefit from Income tax. Under sec 80C the principal repayment of your home loan is eligible for deduction.
Rental income: If the flat or apartment is not occupied it can be rent out.
Rents: You will not face an increase in rentals.
Refurbish: Can renovate or make changes in the flat accordingly without having any constraint like you have in a rented house.

Merits for Renting a flat

Flexibility: In the period of making your career it often happens that you need to change your job very hastily that may lead to the change of city. So until and unless you decide to settle down owning a flat does not make sense. Because this will decrease the flexibility in moving.
Rent lower that EMI: Renting is much cheaper than making the down payment. Down payment is approximately 15-20% of the property value.
Expenditure on maintenance: House requires regular maintenance and it is the responsibility of the owner to maintain it. The tenant is only responsible for minor maintenance. Homeowner has to pay property tax. Also, while buying owner has to pay registration fees, stamp duty etc.

Both buying and renting has their own merits. But owning a flat would be a better choice than renting a flat.

Rentals may seem cheaper than EMI in the short run but in the long run, it is much higher than owning a house.
Rental cost can’t be recovered
A homeowner can always mortgage a property but a tenant can’t mortgage a rental property.
A tenant has to move out of a rented flat, as per the owner’s demand.

If you are looking to buy flats in Lucknow, trust Paarth Infrabuild. With some of the best residential projects in the city and a legacy of trust and transparency, they will be an ideal support to help fulfil your dream of a beautiful home.

Guide for First Time Home Buyers in Lucknow

January 14, 2022 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry Residential Properties

Buying a home is one of the biggest decisions in a person’s life. Especially buying your first home can be a little overwhelming. There are a lot of question in a person’s mind about budget, location, which builder to choose, whether to go for an under construction property or ready to move in and so on. If you know what your exact requirement is, the entire experience of selecting the correct home for your needs will seem easier. As there are a lot of options available to buy Flats in Lucknow, a first time home buyer may get a little overwhelmed to make the entire process easier for you, we are providing you with a complete guide on what factors you need to consider while buying your first property in Lucknow.

Deciding your budget

The most important factor to consider while making a decision is the budget. Location and type of property will determine the price. This will help you narrow down properties in Lucknow while deciding. You may want to take into consideration your existing financial commitments and have an estimate of the EMIs that you are comfortable paying every month at a reasonable interest rate and tenure. You can calculate this using the EMI Calculator.

2. Deciding the type of property

The type of property you buy depends on factors like the number of family members and your budget. All this will help you decide if you want to go for an independent house or an apartment in Lucknow. This will also help you determine whether you want a 1 BHK, 2 BHK or 3 BHK flat.

There are various projects in Lucknow offering apartments in all sizes at various locations.

3. Focus on the location

Choosing the location for your home is one of the most important factors while making purchase decision. You should choose a location so that your school, office and other places that you need to commute on a regular basis are easily accessible. It is also important to have good connectivity with market, hospitals, railway station, airport and other such social infrastructure. The budget that you have decided will also pay a very important role in deciding the location of your property.

While buying a home in Lucknow, you may consider prominent locations like Gomti Nagar, Gomti Nagar Extension, Sultanpur Road, Golf City, Shaheed Path. These locations have easy accessibility to all the areas in Lucknow.

4. Choose amenities as per your needs

These days apartments in Lucknow offer a host of amenities like clubhouse, kids play area, amphitheatre, meditation zone, Power Backup, Gated Security.

Make a note of the kind of amenities that you require on a regular basis depending on the members of your family. For instance, if you have kids, it would be a good idea to consider an apartment which has a spacious play area. If you have elderly members in the family, you may look for amenities like park and yoga room. If you are buying home in a township, you will have easy access of the things you need on a daily basis as everything will be available in the campus itself.

You may select your dream home on the basis of your requirements.

5. Choose a reputed builder

Buying a home is probably the biggest investment of a person’s lifetime. Since a lot of time, money and emotions are attached to making this decision it is crucial to consider the builder reputation. Check the record of the builder and the company, how many projects has he delivered. There are a lot of reputed builders in Lucknow like Ansal, Omaxe and Paarth Infrabuild.

6. Selecting Home Loan

Since buying a home is a big investment, you will need to avail a home loan. You can talk to your existing banker or look for a project that is already Bank Approved. It is advisable to look for a Bank approved project in Lucknow as it is generally a more secure option as Banks usually do thorough investigation of the financial feasibility of any project before giving approval for loan.

A home loan also offers tax benefits as interest paid on home loan is tax deductible.

Do a thorough research on home loan rates offered by different banks and which is the best suited to your needs.

7. Verify if the project is RERA Registered

The property should be registered under RERA and you can check for the same on the official website of RERA. RERA ensures that the interests of the buyer is protected in terms of what the developer has committed to deliver. This ensures more transparency between the buyer and the developer. In case of any grievances you may reach out to RERA for assistance. So, always look for a RERA Approved Property in Lucknow.

8. Status of the Property

How soon do you want to move in and what kind of payment plan you are looking at will determine the status of the Property you buy. Whether you want to go for an under construction project or ready to move in will also further help you to narrow down your options.

9. Keep into consideration the additional costs

When you are working out a financial plan to pay for your house, do not forget to consider additional costs like property registration cost, property taxes and Maintenance Cost. All these will come into play after you have bought the house but they do make up for a considerable amount and need to be factored in your financial Planning. Do talk to your developer about an estimate of these cost before making the buying decision.

10. Know the Government Benefits available

The Government has several ongoing schemes for first time home buyers and you should find out if you are eligible for any. If you are a first time home buyer, you are eligible to avail income tax benefits under the sections- Section 80C, Section 24 and Section 80EEA of the Income Tax Act. Make sure to avail benefits that the government has to offer.

You may also check with the developer in Lucknow about the benefits you may get if you are eligible for any, on booking your home with them.

We hope this list can help you in making the decision of buying your dream home in Lucknow.

Ideas for Small Living Room

January 12, 2022 0 Paarth Infrabuild Lucknow Real Estate residential

“Small rooms or dwellings disciplines the mind; large ones weakens it” -Leonardo Da Vinci

With the rising population the need for flats and apartments. This leads to increasing the decreasing the size of the flats, which ultimately causes small living rooms, small dining rooms, rooms etc. It does matter that the living area of your flat is small don’t let it make clinch to your style. Just hang out! It is just tricks that make your eyes feel that the room is bigger than it appears. It is not some magic, it is smart styling. So here are some ideas for your small living room.

Room Paint

The Bigger the Better. You feel more alive and open in your flat if you have a large living room. Even the colour of the living room can make a difference. It is psychological fact that painting your room in a lighter and softer colour can help your living room feel bigger. Also, having larger windows and using mirrors adequately will make you feel your room bigger. On the contrary, darker shades will make you feel your room smaller.

Multi-functional furniture

It is very advisable that you should invest in multi-functional furniture. Following pictures are few examples which are your friends in need.

Rugs

A big carpet can be used to create a feel of large living room. Choosing a large rug in a bold pattern is a trick that creates a feeling of a larger room. Bigger rugs is continuous which does not break the floor.

Curtains

Light coloured or light shades curtains will aid in increasing illumination in the small living area. It is even advisable if the colour of the curtains matches with the wall.

Lighting

Lighting plays a very crucial role whether you a small or large flat. Placement of light in living area will make small living room feel big. The colour of the lights should be eyes soothing that should create irritation in the eyes.

Mirrors

If the living room of your flat is small, placement a right-sized mirror at the right place will make you feel your living room bigger in size. This will also help in illuminating your living area and add beautification to it.

If you want to be witness of these types small room living ideas, you can visit at flats in Lucknow made by Paarth Infrabuild (real estate developer in Lucknow) as Paarth Republic, Paarth Arka & Paarth Aadyant. Their small room’s living is so good and suitable for living.

7 Facts you didn’t know about Lucknow

January 7, 2022 0 Paarth Infrabuild Lucknow Real Estate Residential Properties

Lucknow is the second happiest city in India

According to the survey conducted by ‘IMRB International’ and LG Corporation, Lucknow is the second happiest city of India just after Chandigarh.

Hazratganj has no electrical wires

Hazrajganj one of the areas which is situated at the heart of Lucknow is unique in its own way. The electrical wires are all underground which adds beautification to this area. Really interesting fact about Lucknow.

Lucknow’s clock tower is the tallest in India

The clock tower of Lucknow which is known as Husainabad Clock Tower is the tallest clock tower in India. It was built in 1881. This clock was built as a replica of BIGBEN clock tower of London.

Lucknow Railway Station

Lucknow Railway Station is the place where Mahatma Gandhi met Pandit Jawaharlal Nehru for the very first time in December 1916.

Lucknow has the longest Race-course

The race course in the city is the longest one in India. The length of the track is 3.5 km. It was established in 1880.

Bara Imambara is the largest hall in Asia:

The construction of Bara Imambara hall was started with a sole purpose of providing employment to the people. It took six complete years to complete this hall. The construction of this hall was completed in the year 1791. It is also the largest hall in Asia without any external support from wood, iron or stone beams.

Reservoir of Crocodile and Alligator

Kukrail Garden located in the city is said to be the largest crocodile and alligator reservoir in the Asian continent.

Apart from these there are many beautiful apartments and township as Paarth Republic, Paarth Arka, Paarth Aadyant and Aryavarta Empire where you can buy flats in Lucknow and live there. I hope you like these facts about Lucknow.

All you need to know about living in Lucknow

January 5, 2022 0 Paarth Infrabuild Lucknow Real Estate Residential Properties

Muskuraiyein, ki aap Lucknow mein hai“

That’s how you are welcomed in the capital and the largest city of Uttar Pradesh, situated on the banks of river Gomti and about 45 miles (72 km) northeast of Kanpur. Lucknow is not just a city, with a rich heritage to its name, the city of kebabs and nawabs resonates the treasure of architecture and history, of literature and culture – in a nutshell.

The city of Nawabs as the slogan of the city says the region has a slice of rich colonial history to modernized museums, this artistic hub of Awadh, beautifully brings together the opulence of a glittering past and the simplicity of a modern city. And if you thought this is all, we have something special for you, According to the survey conducted by ‘IMRB International’ Lucknow is the second happiest city in India. As of November 15, 2017, which is merely 70 days into its operations, the Lucknow Metro has crossed the 10 lakh mark in terms of ridership.

City the Beautiful –

Old Lucknow –

Rumi Darwaza, the Mughal Gateway built in the centre of the capital divides Lucknow into ‘Old Lucknow’ which is ancient, crowded, a bit narrow, and a big food hub, wholesale jewelry lakhnavi chikan market. On the other hand and the ‘New Lucknow’ is urban and one of the most planned cities of Asia.

New Lucknow –

With sprawling shopping malls, parks, Hi-rise buildings, international cricket stadiums, wider roads, planned architecture make the city a true cosmopolitan with people of varied cultures and areas from across the country. The most famous among these are the parks like Ambedkar Park and the Gomti Riverfront Park, both ideal places truly give the sense of calmness within the chaos. The families, tourists, and locals can daily be seen taking a walk or admiring the built of the structures during the evenings or even late nights.

For the shopping frenzy, you have Hazratganj, which is the mouth-watering space for shopping, food, and some unique experiences like – you don’t see electric cables hanging around that enhances the beauty of the area like never before and more so if you have an eye for detail, you see most of the shop’s names, and signage marked in black and white only. Right from the international wizards like Nike, Pepsi, Gucci to the local shops, all of them are marked in black and white signage throughout the market. For foodies, the same place offers its world-famous ‘gol gappe’, ‘chaat’ and ‘kulfi’ eateries, posh Mughlai restaurants, and various shopping complexes. All the buildings in Hazratganj have a distinct Victorian architecture, and you can shop for literally anything – starting from inexpensive accessories and trinkets to high-end clothes, shoes, and jewelry.

The people of Lucknow are known for their courtly manners and endearing ‘Pehle aap‘ (you first) culture, which always leaves behind a smile on the faces of its visitors.

Education

Lucknow is the home to a number of the various prestigious institute that includes

Indian Institute of Management Lucknow (IIM-L),
Indian Institute of Technology Lucknow (IIT-L),
Institute of Hotel Management Lucknow (IHM-L),
Indian Institute of Toxicology Research,
National Botanical Research Institute (NBRI),

The University of Lucknow and many more. You hardly find so many important institutions in a single place and that is the beauty of the city. Let it be higher studies or the school level, Lucknow offers the best of the best and hence if you are living in the city you don’t migrate to other places and save a lot of cost and family time.

Sports

Lucknow is the Headquarter for the Badminton Association of India. Junior level Badminton players receive their training in Lucknow after which they are sent to Bangalore. Also, The Lucknow Race Course in Lucknow Cantonment is spread over 70.22 acres (28.42 ha); the course’s 3.2 km(2.0 mi) long race track is the longest in India ^a.

Not only this, but Lucknow also hosts the International standard Cricket stadium, Various cricket academies, Tennis academies, Major Dhyanchand Hockey Stadium to name a few.

Climate

Being a landlocked city and quite away both from the Sea and the Mountains, Lucknow runs in extreme weather conditions. All the variants of the weather can easily be witnessed in Lucknow throughout the year.

Winters in Lucknow – From November to March is the winter season and is the best season to visit the city. With the minimum temperature going as low as 2 degrees one can enjoy the fog and dim sunlight during the days. Summers in Lucknow – April, Ma,y and June dry, hot and windy with the mercury soaring to as much as 45 degrees, the city reels under extremely humid conditions during the Monsoon rains during Jul August, and September.

If you planning to buy an apartment or flats in Lucknow? Rush to the projects by Paarth Infrabuild, which are constructed keeping in mind the different requirements of the buyers. Paarth Infrabuild offers luxurious and comfortable household spaces which will match exactly with your dream house. There are four major projects by Paarth Infrabuild i.e. Paarth Republic, Paarth Aadyant, Paarth Arka and Paarth NU. Each project is different and has its own unique features and all the projects are eco-friendly.

How a middle income person can buy a house

December 31, 2021 0 Paarth Infrabuild Real Estate Real Estate Industry Residential Properties

“Kyunki Apna Ghar toh Apna hota hai”

Have you ever thought that if money was never an object you could have bought your dream house? That might be a cozy villa having a private garden as well as swimming pool or a private condo having sea view like it is shown in James Bond movies. Thinking? You might go out of your budget.

Everyone has an idea of their dream homes but as money as an object comes into the picture your aspirations are toned down. Most of the home-buyers when decide to convert their dream home into reality by stretching their finances they might end up denting their finances. But not anymore, affordable housing scheme helped many people to fulfill their dreams to buy their own house. The slowdown in real estate sector also lightens the burden of the buyer. A few years back rates of the property were hitting the roof but today home-buyer can a find a place to dwell for spending their life with their family.

The vision of Modi government that every citizen of India has their own house by the end of the year 2022. To back this vision the government is pursuing and encouraging the builders to come up with projects that fall under affordable housing schemes. Under this scheme, the target is to make house between 10lakh to 30lakh so that lower and middle class group can afford it. Even the home loans are available at a very economical rate. This will lead to increase the quality of living standard of people.

Projects under the affordable housing schemes are launched in states Punjab, Uttar Pradesh, Rajasthan etc. and the state government is providing all the possible assistance to the builders. As per Times of India, their government has made two classifications for Middle Income Group (MIG).

MIG-I having an income of 6-12 lakh will get loan up to 9 lakh with interest subsidy of 4% for a tenure of 20 years. Therefore at the end of tenure, the borrower will end up paying an interest subsidy of 2.35 lakh for 9 lakh.
MIG-II having an income of 12-18 lakh will get loan up to 12 lakh with interest subsidy of 3% for a tenure of 20 years. Therefore at the end of tenure, the borrower will end up paying an interest subsidy of 2.30 lakh for 12 lakh.

The Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been acknowledged as central nodal agencies to channelize this subsidy to the lending institutions, including banks and financial institutions. Therefore, small banks, non-banking finance companies and micro-finance institutions will be recognized as primary lending institutions under the scheme.

Additional loans are also available at a non-subsidies rate. Under the scheme, widows, single working women, persons belonging to SC/ST, OBC, differently abled and trans-genders will be given preference.

If you looking to buy flats in Lucknow, there are best real estate developer named “Paarth Infrabuild” provide affordable residential flats for middle class people.

Lucknow, a Real Estate Hub

December 22, 2021 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry

As soon as we think about the Capital city of Uttar Pradesh, Lucknow emerges as the city of Nawabs, its lazy yet elegant persona, the Imambadas, Rumi Darwaza, the ever inviting Bhool bhulaiya, or the mouth-watering food. But that’s not all, Lucknow is very quickly becoming the hub of Real estate hub for the region. Let it be the government policies or the urban real estate development in the vicinity, Lucknow is the finest example of urbanization of India. In Lucknow there is a best real estate company named “Paarth Infrabuild” offers luxury flats in Lucknow at affordable price. There are many reason due to which we can say Lucknow is a Real Estate Hub.

Location Matters –

Lucknow is very centrally located within the boundaries of Uttar Pradesh and enjoys excellent connectivity with all the major cities when it comes to the Uttar Pradesh region. Right from neighboring Kanpur, Agra, Jhansi, Varanasi, Prayagraj to the National Capital New Delhi, Noida, Ghaziabad, and the city is very well connected by all the possible modes of travel like Air, Rail, and Bus. Outer ring road completion will connect the city with 104 villages, as many as 6 state highways, and 5 National highways.

The Real Estate Growth –

Also within the city, Lucknow Metro has opened the flood gates of the Real estate sector to boom. Locations like Shaheed Path, Gomti Nagar, Sarojini Nagar are not the OUTER part of the cities anymore, you can very easily see skyscrapers mushrooming all around. With the Malls, Newly constructed Hi-rise Apartments, Schools, and Multi-Specialty hospitals in the close vicinity, Lucknow is emerged to be the next cosmopolitan city of North India

Why the Hub

Being an old city with narrow roads, cluttered colonies, busy Market streets, the new age Real estate developers have understood the requirement of living in open and bigger spaces with all the modern amenities like a Swimming pool, Kids Play Area, Clubhouses, Badminton Courts, Yoga, and meditation Area, and jellying perfectly with government’s KHELO India campaign mostly all of the real estate developers are providing Cricket stadiums with academies, Football or Basket Ball courts, and state of the art indoor games facilities and no wonder Lucknow is already providing some world-class athletes. On the commercial front, the new age office spaces and co-working spaces are also cropping up in the downtown areas of the city and the best part is they are well connected with the so-called old and the new city.

Latest Trends

The trends especially those in the Real estate industry indicate that the individual let it be a high-end investor or the mid-range buyer is looking beyond metropolises that offer a lifestyle. Where they can not only live a carefree life but also have all the facilities that are required to be in the nearby areas. The high rise is not only a trademark of a Metropolitan city this has created an untamed opportunity for the real estate developers to take advantage of the untapped consumer demand that is increasing day by day.

Growth and Opportunities in the Real Estate of Lucknow

The real estate industry in Lucknow has emerged in all sectors especially in the residential and commercial sectors. With the growing GDP of the countrymen and the Lucknawis, the cost of real estate lands as well as the high-rise apartments with the Commercial spaces are yielding clear results. The rapid growth of the IT sector specifically has attracted a lot of crowds from the various parts of Uttar Pradesh. According to the Master plan of 2021 197 perimeter villages are included in the proposal.

A Contributor

“Lucknow is playing a pivotal role in making the state of Uttar Pradesh march towards its goal of becoming a $1-trillion economy. The city of Lucknow alone contributes to more than 3.85% of the state’s GDP and is already the hotbed for real estate players from all around the country. The MAKE IN INDIA initiative of the government also paved its way to attract the major manufacturing players to set up their units and the existing ease of doing business makes the area even more sort after places.

Facilities in Lucknow

No wonder Lucknow is present in the list of top Smart Cities in India, and no guesses for the answers to the factors that make it one of the top gainers in the list.

Transport – The presence of Metro has just added one more feather in the decorated transport facilities of the city and connectivity of Bus, Rail and Air already gives Lucknow an edge over the rest

Water supply – one of the most essential aspects to make a city-run, the water supply in the city has seen a lot of improvement, thanks to the government policies and the NGOs that are working towards the betterment of Lucknow.

Educational institutions – One can count big when it comes to the education in Lucknow, IIM Lucknow, IHM Lucknow, Citi Montessori school Babasaheb Bhimrao Ambedkar University, Amity University, Sanjay Gandhi Post Graduate Institute of Medical Sciences (SGPGIMS), Central Drug Research Institute, Central Institute of Medicinal and Aromatic Plants, Medanta, Sahara Hospital, Central Institute of Plastics Engineering and Technology are merely some names that itself shows the class.

Top Residential Areas in Lucknow

Past Decade has seen a lot many cities where the real estate sector is growing have witnessed extraordinary expansion in the infrastructural and overall facilities. Lucknow at the same time is experiencing, expanding, and upgrading its infrastructure to accommodate the people not only from the city but from the nearby villages and cities. Lucknow offers something for everyone, right from the local jhuggis to the expansive Villas, farmhouses, and the High-rise apartments Lucknow witnesses an array of residential and commercial developments. To name a few we have some areas that will automatically take us to the scrumptious cuisines or the Real estate developments. However, if you are not from Lucknow just have a look at the world-famous places like Hazratganj, Gomti Nagar, Aliganj, Janki Puram, Bhootnath, Alambagh, Shaheed Path, Mahanagar, Indiranagar, Patrakar Puram, Vibhuti Khand, Faizabad Road, Kanpur road to name a few.

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