Residential Properties

What are the best features of an 3 BHK flat?

April 13, 2022 0 Paarth Infrabuild Real Estate Residential Properties

1 BHK, 2 BHK, 3 BHK, 4 BHK Penthouse and the list goes on, the more the variety and the more is the confusion. And even if we have it all figured out, another confusion starts, what should be the feature that one should look for in a flat that they are going to look for.

But let’s hold for a moment, what is BHK Exactly – and hence what does it really mean for these BHKs and other forms of flats. Let’s try to help you out a bit by explaining the types in a bit detail, but here is a promise, this is going to be for a lifetime and you will never be wondering with these terms used and explained:

BHK Explained –

Bedroom, Hall and Kitchen. The first letter of each comprises and makes the BHK.

Why is it used – simply because it denotes the number of rooms that are present in the flat for your consumption? E.G. 3 BHK Means that the flat/property consists of 3 Bedrooms, one hall and one kitchen. Generally, it is assumed that a 3 BHK flat will have one Kitchen, 2 Balconies and 3 Washrooms but there is no fixed rule here, there can be 3 balconies or 2 Washrooms and it all depends upon the developer and his land usage guidelines or the planning that has gone into the particular project / Property.

And hence the abbreviation is used for:

1BHK apartment that means 1 bedroom, hall, kitchen.
2BHK apartment that means 2 bedrooms, hall, kitchen
3BHK apartment that means 3 bedrooms, hall, kitchen
4BHK apartment that means 4 bedrooms, hall, kitchen

However, there are a lot many variations to this as well. A 2BHK can have a servant quarter / or a study room, depending upon the requirement of the general investors/customer for the particular area. And the same goes with 3 BHK and so on.

Now the same abbreviation is used for Independent houses, Builder floor properties and VILLAS. However to make it easier for the customer, in the case of PLOTs – the general terminology is used that a 3 BHK flat can be built in the plot and hence the customer is clear in his / her mind as to how big or small can the plot be.

Now let’s talk about the features of a typical 3 BHK Unit / Flat.

If you are looking for a 3 BHK Apartments, there are some of the following criteria that are already in the mind of the developer / Broker which he uses to help you with, in order to make your decision:

You are a family of 3 to 4 people. You will enjoy the best of the space for each other. Live Expansively. Especially post Covid – the demand for bigger spaces for the family has seen an unprecedented growth. And the reason is very simple. Every individual need their own space to work from home, and if both the husband and wife are working, which generally is the case, you don’t want to be interrupted often.

You want space for each one of you – Even the kids have to take their classes’ online along with the other activities. Since our home is our most comfort zone, and that where we seek for the (Me time) or that particular corner where we feel the best even in the most not so relaxing moment. We must get a relaxing and soothing space when we like to unwind after a day full of work.

Privacy is of high importance – A 3 BHK will allow you to have three rooms and an ample space where you can easily maintain a balance between communal living and your privacy. You enjoy the much needed privacy for the whole family and especially when we have elderly with us, the kids also feel independent and unperturbed in their own happy space.
If you are a small family, you are thinking about the future, it may be that you are planning to expand your family or you are planning to provide space to the newly wedded couple in the future course which a 3 BHK can easily accommodate.
You want to enjoy more of the common area which allows you to enjoy ample family time with all the household with the eye contact.
Parking – a 3 BHK Ensures that you get at least one parking slot for you / your spouse’s car and this can be purchased also for the next one.

With time and during the on-going pandemic, , people have realized that, a home is the need of the hour. And just a home doesn’t work that much. The home has to be bigger, where a husband, wife, kid/s can have their own privacy, space, work and fun done all together. No wonder that all across the country the steep rise in the purchase of the bigger houses has become the need of the hour. You can pick-up the interview of any big real estate developer, it I really evident that the demand for bigger houses is only getting increased day by day.

The house is no longer just the place to live. The house has become the lifestyle and for a modern middle and upper middle class family, a 3 BHK is something that is the need of the hour. The increase in purchasing power and a preference for a luxury lifestyle has created a huge demand for 3 BHK properties in Lucknow.

A Complete Guide for People Looking for Flats in Lucknow

A home is made up of love, hopes, and dreams. It is a place where you create memories with your loved ones for a lifetime. Even better is that you get some tips or a person to guide you to make the whole home buying experience smoother and easier.

A Complete Guide for People Looking for Flats in Lucknow

However, Lucknow being the city of luxuries and Nawabs has everything in abundance. Buying a home is one of the biggest decisions in a person’s life. It is one of the biggest life goals for a countless number of people all over the globe.

Especially buying your first home can be a little overwhelming. There are a lot many questions in a person’s mind about budget, location, lifestyle needs, which builder to choose, whether to go for 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 purchase decision is to finalize 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 and futuristic financial commitments planned and have an estimate of the EMI’s that you are comfortable paying every month at a reasonable rate of interest and tenure of the loan. You can calculate this using the EMI Calculator.

Deciding the type of property

The City of Lucknow has a lot to offer when it comes to the options and the variety available. The type or size of the property you buy depends on factors like the number of members in your family and your budget. All this will help you decide if you want to go for an independent house or an apartment.

This will also help you determine whether you want a 1 BHK, 2 BHK, or 3 BHK flat, as per your requirement. There are various developers in Lucknow offering independent houses and apartments of all sizes and budgets at various locations.

Focus on the location

Any view that soothes the eye and gives the required clarity is the best as per the industry experts, however, every individual has her / his own taste. Choosing the location for your home is one of the most important factors in making the decision. You should choose a location so that your school, office and other places that you need to commute to on a regular basis are easily accessible.

It is also important to have good connectivity with the market, hospitals, railway stations, airports, and other such important social infrastructure. The budget that you have decided on will also play a very important role in deciding the location of your property.

A prime location in the city will command a higher price as compared to other areas that are still developing. Here it is really advisable to have a look at the future plan map for the city which is easily available on the websites or LDA office.

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.

Choose amenities as per your needs

These days apartments in Lucknow offer a host of amenities like a clubhouse, kids play area, swimming pool, gym, amphitheatre, meditation zone, Power Backup, Gated Security, parking area, convenience store, jogging track, etc.

If you are buying a home in a township, you will have easy access to the things you need on a daily basis as everything will be available on the campus itself. You may select your dream home on the basis of your requirements.

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’s reputation. Check the record of the builder and the company, how many projects has he delivered.

There are a number of developers in Lucknow and it might get a little confusing to decide. So it is always advisable to do your research before coming to a decision. There are a lot of reputed builders in Lucknow like Ansal, Omaxe, and Paarth Infrabuild and so on who have developed good quality projects in Lucknow.

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 a thorough investigation of the financial feasibility of any project before giving approval for a loan.

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

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

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 (Real Estate Regulatory Authority). RERA ensures that the interests of the buyer are 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 related to a property, you may reach out to RERA for assistance. So, always look for a RERA Approved Property in Lucknow.

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.

If you wish to move in immediately, go for a ready-to-move-in project. You will have to make the entire payment in one go for a ready-to-move-in property. If you can wait for some time before you are ready to move into your new home, go for an under construction project. This will also give you time to make the payment as and when the construction takes place.

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, maintenance cost, property insurance and cost of interior fit outs, if required. 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.

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, if applicable to you.

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.

Take into consideration your future needs

Buying a house is a big decision in a person’s life so it is always a good ideas to take into consideration your future needs as well before making a purchase decision. A bachelor who might be planning to get married in near future can opt for a 2 BHK preferably.

A married or expecting couple can go for a 3 BHK as they will require a bigger space. It might also be a good idea for them to look for a neighbourhood that has good schools, paediatricians, market and open spaces. So, do consider what your life is going to be in a couple of years while making your home buying decision.

Long term financial Goal

If your financial planning requires selling the house at some point in future, make sure to look for a locality that shows potential appreciation in the future. For this, you can look in for factors like availability of good social infrastructure and easy accessibility to major areas in Lucknow.

Areas like Gomti Nagar Extension, Shaheed Path, and Lucknow-Kanpur road have shown good appreciation in the recent past and as these areas are still developing, you will be able to find good properties at affordable prices. Your first home is a memory for your lifetime. Especially after Covid, the real estate market is looking up as people have realised the importance of owning a home.

As per recent trends, families who were staying on rent are keen on buying their own homes and others want to move into a bigger place, especially after the lock down period. We hope this list will answer questions that you might have and can help you in making the decision of buying your dream home in Lucknow.

Top 5 Reasons to Buy Property in Gomti Nagar Extension

March 24, 2022 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry Residential Properties

5 Points to Buy Property in Gomti Nagar Extension

Well planned development – Gomti Nagar and Gomti Nagar extension are one of the largest planned residential areas of Uttar Pradesh. This area has been newly developed and so the infrastructure is planned and organized. This is the reason that these are the most sought-after areas in Lucknow as it gives you a more comfortable lifestyle.

Excellent connectivity – Gomti Nagar extension area is very easily accessible from the other parts of the city. Airport and Railway Station are easily connected by highways and this reduces the travel time considerably. There is proposed upcoming metro development also in the area which will make the everyday commute more convenient in the near future.

Best Social Infrastructure– Gomti Nagar Extension has everything that one can wish for in a residential address. It has lush greenery and many big parks like the Janeshwar Mishra Park which is a major attraction among Lucknowites. Our Project Paarth Aadyant has Phoenix Palassio and Ekana Stadium right next to it. There are some of the best schools like City Montessori School, DPS and St. Francis in close proximity. The health facilities are world-class and easily available. There are multiple opportunities for employment nearby including a software technology park.

Affordability – The best part of housing in the Gomti Nagar extension area is that despite wonderful infrastructure, the prices of properties are quite reasonable, as compared to the rest of the city. A lot many real estate developers have introduced their multi ranged projects in the area. Developers like Omaxe, Shalimar, Rishita, Tulip have their established real estate projects that make the overall area quite accessible and easy to live in. Paarth infrabuild one of the leading real estate developers also has a number of residential and mixed-use communities here, Paarth Arka, Paarth NU, and Paarth Aadyant. These are at the best location of this area and have affordable 3 and 4 BHK apartments with high-end amenities for your comfort.

Appreciating value – In the last ten years, ever since the Gomti Nagar extension area was launched, the prices have been appreciating annually here. In the last few years, even when residential real estate stopped appreciating everywhere (and saw a downward trend in a lot of localities), the properties here have seen a consistent appreciation. This has been probably due to the availability of world-class infrastructure and amenities. There is still good scope for property price appreciation here as people look for large units post-pandemic and the price in nearby Gomti Nagar has escalated beyond affordability for most people. Therefore, those who are looking for property investment in Lucknow are heading here searching for the right property.

All the above factors make this area very appealing for property investors as well as end-users. The rental yields are also good and with multiple employment opportunities, it is not tough to find renters any time. Paarth infra build has two good projects, Paarth Arka, the highest building of Lucknow, beautifully designed by Architect Hafeez Contractor and Paarth Aadyant, a ready to move in project with more than 300 families already residing. The location and design of these properties have helped them take a premium position in this micro-market and will hopefully help drive more customers to this area.

Things you must look for in your neighborhood while buying a Flat

March 21, 2022 0 Paarth Infrabuild Real Estate Residential Properties

Neighborhood, in today’s world, has become one of the most important aspects of living. All over the world, as we are experiencing the neighbors and either standing by or fighting with each other. The most live example is that of Russia and Ukraine, India, Pakistan and China, Iran and Iraq and the list goes so on. And if you have a neighborhood like that of NATO countries, life is much easy and more pleasant. A sheer thought of a nice neighborhood brings up a smile and vice versa. And similarly, when it comes to buying a flat or a house, location and neighborhood are two major important decisions to be taken care of.

Buying a home is one of the biggest decisions of a person’s lifetime. It is a dream come true for most people. One of the most crucial factors while buying a home is to choose a location that best suits the needs of you and your family. Each person may look for different things from their neighborhood in terms of the kind of lifestyle they have.

With no dearth of the variety of options that are available for a property in Lucknow that the decision to finalist your dream home may look overwhelming. Keep reading to find out the factors you must consider before deciding where to buy a home in Lucknow.

Amenities and Activities: The life that you desire for yourself and your family will determine your lifestyle. So choose a home that will fulfill the needs of your family. Apartments in Lucknow offer a number of amenities for your everyday comfort and convenience. Your home buying decision will depend on what your everyday life and needs look like. For instance, a young working professional will look for amenities like a gym, jogging track, clubhouse etc. to relax whenever he/she has the time in an apartment in Lucknow. A family with kids will look for a play area and sports facilities available on the campus. An elderly couple would prefer a place where this is a yoga zone, park and open green spaces.

Convenience: Choose your neighborhood so that you do not spend more time in traffic than actually enjoying your new home. Your home should be easily accessible to places of everyday importance like a convenience store and shopping mall. Availability of Public Transport like Metro, Buses etc. should also be easy to make your everyday commute hassle-free.

Secured Neighborhood: It is important to consider that the location you are finalizing is a safe and secured neighborhood. Make sure that your apartment has gated security. Especially in these times when both the partners are working professionals, it becomes all the more important to consider an apartment that has proper security arrangements.

Social Infrastructure: Choosing the location for your home is one of the most important factors in making the decision. You should choose a location so that your school, office and other places of daily commute are easily accessible. It is also important to have good connectivity with markets, schools, hospitals, railway stations, airports and other such important places.

Transportation: as it sounds, the lack of transportation is a huge factor in deciding upon the purchase of your property. Even if we are well equipped with our own commute, these days that is not the only criteria. We are living in a digital world and we make a lot of our purchases through online Mediums, but as a matter of fact, there are a lot of places where home delivery or transportation is not available by the e-commerce players, in the long run, that can make our lives more complicated and we would be running for small little things to the shops that will charge us obnoxious amounts for petty things. More so the public transport like connectivity from Rail, Metro, Bus and Cab services should also to be searched upon before the final decision of closing on the property deal.

Culture: Whether you want to stay in a quiet family-friendly neighborhood or a busy urban neighborhood is a question you should ask yourself before you come to a decision. You want to live in a place where people have a lifestyle similar to yours. An elderly couple would want to live in a quiet neighborhood whereas a young couple or a family with kids would look for a place which is bubbling with activities like clubhouse sports facility, park, nearby market, schools etc. So do make sure that you take into account all your needs while making this decision.

Buying a home is the biggest decision for a family so do take your own time to discuss with your family about the kind of place they want to live in. We hope this gives you all the things you must look for in your neighborhood while buying a home.

How to give your home a makeover in budget

February 23, 2022 0 Paarth Infrabuild Residential Properties

A Home and its beautification- Makeover, it is an everlasting job and idea. We all want to give our home a new look and keep planning about it. Making it more presentable and within the budget is always on the top of our minds. While buying new furniture or repainting can alone transform our homes, it is not always in our budget to make such big changes.

You can give your home the makeover that you have been planning for a long time with a few simple changes that are really affordable. Just some things here and there and Voila! Your home has completed a new look. Here are a few easy tips that will help you transform your home without spending a fortune.

Shuffle your furniture

Giving your home a new look can be as simple as rearranging your furniture. Put those big pieces as per your creativity and you will be amazed to know how much change it can bring. Just add a table to an empty corner of your room side and it creates a whole new look. Add a small décor piece (you will easily find the street vendors selling these at very low prices) or a flower pot to add a little colour to the room.

Tucked away glassware

We all have glassware in our homes that which we have tucked away somewhere back in the closet. Those could be anything from a glass Jug to a vase or a bowl. You can buy a stylish crockery cabinet to display all your expensive and fancy glassware. This will not only add to the décor but also make it handy for you whenever you need your glassware. This will add a new piece of the show to your home.

Big wardrobe mirror

Place a big mirror in your bedroom or the living room and lean it against the wall or place it on a mantel. You can make a few simple additions like a rug to place the mirror on and a lamp or a nice colourful pouf stool to make the corner look complete. This simple touch will make all the difference, enhancing the room lightning and making the room look bigger and spacious.

That old metal suitcase

Just look into your grandpa’s old stuff, they must have that metal suitcase, the heavy and big one. Bring that out, clean it up, and put it under the centre table in the drawing-room. You can also display them anywhere like on the bookshelf or below it using them as a showpiece. It will add an antique look to your décor.

Invite nature inside

Adding a couple of easy-to-maintain indoor plants inside will lighten up your home. It is sure to add a fresh look to your room and will bring in positive vibes. There are a lot of plants such as money plants, aloe Vera plants, fern plants, bamboo shoots, or any other plant that you like. Pick any one of them from the nearby nursery. Even if you are living in an apartment, it is very easy to maintain these plants as they don’t require a lot of sunlight. Just place them near a window so they get some fresh air every day.

Unclutter

You cannot believe the difference a good cleaning session makes in transforming the look of your home. Spend a Sunday doing a proper cleaning and uncluttering of your house. Recycle or donate the things that are no longer of use, and spend some time dusting and washing cushion covers, bed covers, and curtains, etc. Use a nice room freshener and put fresh flowers in that beautiful vase lying in your drawing room and you will feel such a pleasant difference in your home.

These are a few simple ways you can give a makeover to your home whenever you wish to without any major spending. And if you have any other ideas to redesign your home in a budget, do let us know in the comments!

What makes A House Luxurious?

February 8, 2022 0 Paarth Infrabuild Lucknow Residential Properties

“The sky is not the limit, the limit is your vision”

Owning a luxurious house is like dream come true for most of the people, enjoying all the comforts of the world in your own home. These days every other real estate developer uses the word ‘Luxury’ to define their properties in Lucknow. We have defined the basic parameters that will help you categorise a project as Luxurious.

Location

Location is one of the key factors. The project should ideally be located at a prominent area in the city like Gomti Nagar, Shaheed Path, Sushant Golf City. It should have easy connectivity with the rest of the areas in the city for day to day commute as well as good social infrastructure available in the city.

Space

A Luxurious Home should have spacious bedrooms, bathrooms, living room and drawing room. It should have expansive rooms with luxury specifications like false ceiling, modular kitchen, air conditioner etc. Ideally 3 BHK or 4 BHK flats in Lucknow can come under the category of Luxury Homes.

Floor-to-ceiling Height

The floor to ceiling height should be at least 12 feet. The more the height the more the feeling of openness and grandeur. The floor should ideally have marble or wooden flooring.

Home techs

The House should be equipped with centralized air-conditioning. Smart home technologies are in high demand these days, technologies that monitor and manage systems inside and outside the house. Whether it is locking the doors or controlling the thermostat, variable-speed air conditioning, appliances, music, and lights, one can look after their home from anywhere in the world using smartphones.

Security

The need for security is increasing day by day in India. The demand for installation of security within the house is also rising. Besides human security in the form of round-the-clock security personnel, electronic surveillance units should be installed in each and every corner of the property.

Amenities

If you are staying in an apartment it is important to consider the amenities that your project is offering. Some prestigious builders from Lucknow like Paarth Infra, Omaxe, Ansal are offering high-end amenities like luxurious state of the art clubhouse, fully equipped gymnasium, lush green spaces, amphitheatre, multiplex, swimming pool, to name a few. Do make sure to check out the amenities the project is offering before making your decision.

Specifications

The material used in construction should bee premium,for example flooring should be Italian marble or wooden, the kitchen should have high quality premium fittings. Also if you are going in for a residential apartment, make sure to check the quality of material being used in the other parts of the project as well like garden, parking, lawns, pathways,etc.

The above-mentioned points are some of the features for a luxury house. Thus next time when you go searching for a luxury property, you should keep the above points in mind lest you might end up getting duped and lose your hard earned money.

Nowadays, demand for luxury houses is rising and developers are incorporating interesting technological innovations into their projects in order to attract a niche set of clients. Hence, the market for such luxury houses will only grow and get bigger in future.

Tips and Tricks for Interior designing

February 3, 2022 0 Paarth Infrabuild Residential Properties

“Some people look for a Beautiful place, Others make a place Beautiful”-Hazrat Inayat Khan

Interior design is the art and science of enhancing the interior of a flat/property to achieve a healthier and more aesthetically pleasing environment for the people using the space. There are some interior design tips to make your flat look attractive, serene and beautiful. Even a small change can make a big difference.

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 S your room bigger. On the contrary, darker shades will make you feel your room smaller.

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.

Rugs

Rugs soften the hard floor of your flat. Rugs also add great texture, personality, and beautification to your living area.

Artwork

The artwork should be placed at a proper height. The size of the artwork should be well proportionated with the size of the flat. Lower size artwork should be kept at slightly higher height and bigger size artwork should be kept at slightly lower height. Also, the space between the furniture and the artwork should not be too much otherwise the eyes will rest on the void, blank wall between the two pieces.

Dining Tables

The size of the dining table should be well proportioned with the floor of the dining room. For adding the beautification put some centrepiece or a basket of fresh fruits at the centre of the dining table.

Colour pattern

When you choose a colour palette, this one of the combinations which makes the room of your flat look classy, 60 percent should be a dominant colour, 30 percent should be a secondary colour and the remaining 10 percent to add the accent.

Bookshelves

If you have bookshelves in the living room of your flat or apartment then organizing the books in the suggesting manner can soften the bookshelf. Organise 60 percent of the books vertically and other 40 percent horizontally. It creates a balance that leads to soothing balance. Also, green plants soothes the bookshelves but not the flowers.

Coffee table

As couch seats are usually about 20 inches high for easy sitting and standing, the ideal coffee table is 15 to 20 inches tall. Situate it 18 inches from the sofa; this is the average distance from a person’s hip to the kneecap. In a casual family room, 18 inches gives space for lounging and comfortable walking around the furniture. Choose a coffee table that’s two thirds as wide as the sofa.

If you want real ideas about Interior Design please visit our properties in Lucknow which are well designed. Our residential projects in Lucknow are Paarth Aadyant, Paarth Arka, Paarth Republic & Aryavrta Empire which are premium apartments in Lucknow.

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.

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

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