Everything you would like to understand about stamp tax on property

Everything you would like to understand about stamp tax on property

March 8, 2022 0 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.

How to give your home a makeover in budget

How to give your home a makeover in budget

February 23, 2022 0 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
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
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
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
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
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
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!

Top 5 schools in Lucknow, Uttar Pradesh

Top 5 schools in Lucknow, Uttar Pradesh

February 18, 2022 0 Lucknow

School effectively shaped us into the adults we are today. And it is no wonder, considering that school life is the nucleus of every child’s life. It is where they discover themselves, their interests, likes and dislikes, and abilities and weaknesses. The school and its environment play a huge role in how children develop.

A school plays an important role in young children to stimulate curiosity and shaping a child’s personality to make him capable of handling various situation sin life.

  • City Montessori School
City Montessori School

Type: Co-education

Address: Vishal Khand-2, Gomti Nagar, Lucknow, Uttar Pradesh (Near Paarth Arka)

Board: ICSE/ISC

No of Branches: 18

About CMS: The school has a strong academic reputation in India, producing large number of students scoring above 90% in 10th and 12th Boards Examinations. CMS campuses are ranked in the Top 10 schools of India with highest number of students scoring above 90% in Boards Exams. The school emphasises on all-round development of students through extra-curricular activities and their student exchange program.

  • Loreto Convent
Loreto Convent

Type: All Girls

Address: Lucknow Road, Bandariya Bag Railway Colony, Gulistan Colony, Lucknow, Uttar Pradesh

School Board: ICSE/ISC

No of Branches: 1

About: Loreto Convent was founded in the year 1872. It is one of the most reputed schools in Lucknow. Loreto Convent holds a reputation of good academic record and also for organising inter-school competitions with participants from all prominent schools in Lucknow.

Loreto is known for over all development of their students into confident young individuals.

The School has state of art Infrastructure and facilities; scientifically designed and researched curriculum matches international standards in providing quality education for overall development of the students.

  • La Martiniere College
La Martiniere College

Type: All Girls/All Boys

Address: La Martiniere Rd, Martin Purva, Lucknow, Uttar Pradesh

School Board: ICSE/ISC

No of Branches: 2

About: La Martiniere College has two separate branches for girls and for boys. It is one of the oldest and most reputed schools of Lucknow and is known to have one of the best faculties in the city. La Martiniere College encourages its students to participate in a variety of co-curricular activities like Swimming, football, cricket, skating, horse riding, etc.

This school has a very strong Alumni network for all of its students all over the world.

  • Seth M.R. Jaipuria School
Seth M.R. Jaipuria School

Type: Co-education

Address:  Vineet Khand, Gomti Nagar, Lucknow, Uttar Pradesh

School Board: ICSE/ISC

No of Branches: 1

About: Seth M.R. Jaipuria school promotes the spirit of Universal Fraternity. The students have the guidance from people from all walks of like-Education, Business, Industry, and Technology and under the aegis of the Integral Education Society.

The school also gives importance to extra-curricular activities like sports, cultural activities, annual function and events to promote overall development and well-being of their students.

  • Delhi Public School, Shaheed Path
delhi public school shaheed path lucknow

Type: Co-education

Address: Amar Shaheed Path, Opposite Ansal’s, Golf City, Roberts Lines, Lucknow, Uttar Pradesh (Near Paarth Aadyant)

School Board: CBSE

No of Branches:

About: Delhi Public School Shaheed Path aims to touch heights of excellence in the field of education under the aegis of Delhi Public School Society that has evolved into a renowned institution over last seven decades.

The teacher student’s ratio has been maintained to ensure that each student is given individual attention to cater to their specific needs. The entire teaching staff is highly experienced and qualified.

The school has state of the art facilities for overall development of the children and the curriculum is thoroughly researched to ensure quality education to the children catering to the ever evolving needs of the present times.

What makes A house Luxurious

What makes A House Luxurious?

February 8, 2022 0 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

Tips and Tricks for Interior designing

February 3, 2022 0 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.

Top 7 things to know about living in Lucknow

Top 7 things to know about living in Lucknow

February 1, 2022 0 Lucknow residential

Lucknow is the largest city of Uttar Pradesh and it is the second largest city in North India after Delhi. Hindi and Urdu are the common languages which are spoken in this city. The city is also known as ‘City of Nawabs’. Living in Lucknow is not very costly in terms of food, housing, and other common expenses. For Lucknowis’ this city is not just for them it is a feeling. They are proud of their culture and rich food. According to the survey conducted by ‘IMRB International’ Lucknow is the second happiest city in India. As of November 15, 2017, that is merely 70 days into its operations, the Lucknow Metro has crossed the 10 lakh mark in terms of ridership.

  1. Beautiful city: Lucknow is one of the beautiful city of India with tall buildings, historical monuments, and greenery. Lucknow has many iconic buildings which were built during Mughal and British era. The Uttar Pradesh organizes a “Heritage walk” for the tourists covering most of the popular monuments. Ghanta Ghar in Lucknow is the tallest clock tower of India. 
  2. Lucknowis’: People of Lucknow are satisfied with their quality of life. They also prefer their place to be less crowded. The city of Adab and Nawabs, Lucknowis are polite and courteous to every other people. Also hanging out with lucknowi is awesome they will never let you feel bored, they one or the other incidents or jokes to tell. The heart of Lucknowis is as big as an ocean. You also cannot find as many parks in a single city as you do in Lucknow. Globe Park, Buddha Park, Hathi Park, Nimbu Park, Lohia Park, Ambedkar Park, Samajik Parivartan Sthal Park and many others.
  3. Happy City: According to the survey conducted by ‘IMRB International’ Lucknow is the second happiest city in India. Living in Lucknow is better than other metro cities like Delhi, Chennai, and Bangalore etc. where the people are always in stress. Lucknow is found to be better than other cities in areas such as food, transit, and overall citizen satisfaction.
  4. Food: From street to high profile restaurants and hotels Lucknow has got it all. The food of Lucknow is beyond tasty. Tundey Kabbabi, Prakash Kulfi and a number of street vendors in Aminabad market.
  5. Education: Lucknow is the home to the number of 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), University of Lucknow and many more. So if you are living in the city you don’t migrate to other cities for your studies.
  6. Athletic: 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.
  7. Climate: Climate in Lucknow is mostly pleasant. Well it’s neither too hot not too cold in Lucknow. The climate is just perfect.

There are many things to know about living in Lucknow. It’s about properties in Lucknow offers by best real estate developer in Lucknow named Paarth Infrabuild. You can read more to visit: https://www.paarthinfra.com/

Best places to visit in Lucknow

Best places to visit in Lucknow

January 27, 2022 0 Lucknow

Lucknow, other than being the capital of Uttar Pradesh, has a rich heritage of literature, art, dance, music and food. This city is very popular for its rich cuisine, vibrant embroidery, historical buildings, British bungalows, lush green gardens and intricately designed monuments. Today Lucknow is one of the fastest growing commercial cities in India. Due to all these reasons Lucknow is one of the most popular tourist places in Uttar Pradesh. We have collated a list of the best places to visit in Lucknow, for you.

Bara Imambara

Bara Imambara

‘Bara Imambara’ was built in the year 1784 by Asaf – Ud – Daula. The design and the architecture of this monument is inspied by the Mughal architecture. What makes Bara Imambara worth experiencing is a maze like structure which is a series of innumerable galleries from where you cannot find your way out without the help of a guide. Bara Imambara is one of the most popular places to visit in Lucknow. The premises includes a mosque, courtyards and gateways, and a step-well (Baoli). It is usually better to hire a guide to take a tour who will explain to you the entire history of the place and share interesting facts and stories about the old times.

  • Timings: 6 am to 5 pm
  • Entry Fee: ₹ 25 for Indians; ₹ 500 for foreign nationals

Rumi Darwaza

Rumi Darwaza

Rumi Darwaz was also built by Nawab Asaf-ud-Daula in 1784. It is a 60 feet tall Gateway that is a true example of Awadhi Style of architecture and is often known as the ‘entrance to the old City’. It is one of the most popular heritage attractions of Uttar Pradesh. The Rumi Darwaza bears a strong resemblance to a Gateway built in Turkey by the name of ‘Bab-i-Humayun’.  

  • Timings: 24×7
  • Entry Fee: Free

Hazratganj

Hazratganj

Hazratganj Market really is the heart of Lucknow. From new age brands to legacy stores, you will find almost everything that you need over here. In 2010, Hazratganj completed 200 years and was given a makeover. All the buildings were painted in a uniform colour and Victorian style street lights were installed all over to bring back the old world charm of this place. In the 90s, hanging out at Hazratganj was popularly known as ‘Ganjing’ amongst the youngsters of the city.

To satiate your hunger pangs, make sure you visit Royal Café for their famous ‘basket chaat’, JJ Bakers for their cakes, and United Coffee House for a good old cup of coffee, Burma Biscuit Co. for their ‘naan khatai’ while you are there. For the shopping lover in you, Hazratganj boasts of many great stores like Changamal, Modern Silk House, Gandhi Ashram, to name a few.

For the bookworms, Universal Booksellers and Ram Advani Book Sellers are great places to visit. These book stores have been there since generations and are a well-known name amongst the book lovers in the city.

  • Timings: Morning till night; closed on Sundays
  • Entry Fee: Free

Nawab Wahid Ali Shah Zoo

Nawab Wahid Ali Shah Zoo

More popularly known as the Lucknow Zoo, it is one of the most popular places to visit in Lucknow for kids and grownups alike. Established in 1921 and spread over 71 acres area, this place is home to a variety of birds and animals. Their most popular inhabitants are white tigers, the Royal Bengal tigers, lions, gibbons, Himalayan bears and Indian rhinoceros. You can also enjoy the toy train ride or paddle boating while you are here.

Timings:
8:30 am to 5:30 pm (February to April and August to October)
8:00 am to 6:00 pm (May to July and November to January)
Closed on Mondays and public holidays

  • Entry fee: ₹ 60 for adults; ₹ 30 for children

Gomti Riverfront

Gomti Riverfront

Gomti Riverfront is a newly constructed attraction in Lucknow with excellent location and scenic surroundings. The lush Green surroundings across the banks of Gomti River has been created to let the visitors experience the beauty of river Gomti. Other attractions here include the musical fountain, amphitheatre, boating, jogging track and biking track.

This place especially looks stunning in the evening when it’s all lit up and people can be seen enjoying with their friends and family during this time. So, make sure to add this to your list and go for a stroll in the evening.

  • Timings: 6:00 am to 10:00 pm; every day 
  • Entry Fee: ₹ 10 per head 

Phoenix Mall

Phoenix Mall

The newly constructed Phoenix Palassio is the biggest mall in Lucknow and boasts of all major lifestyle brands. Due to its location right on Shaheed Path it has excellent connectivity with all prominent areas in the city. Phoenix Mall is the go to place for any kind of shopping with over 300 brands under one roof. It had used the grandest architecture ever seen in shopping malls in Lucknow with a beautiful musical fountain right at the entrance. Phoenix Mall also has a food court and popular chains of restaurants and cafes. It also has a Family Entertainment Centre where you can enjoy bowling, arcade games and food, all at the same place.

Basically, Phoenix Mall is a one stop solution in Lucknow for all your shopping needs.

Our Ready-to-move-in Project Paarth Aadyant is right next to Phoenix Palassio Mall.

  • Timings: 11:00 am to 10:00 pm; every day 
  • Entry Fee: Free

Aminabad Market

Aminabad Market

This is one of the oldest markets in Lucknow which has been there since the time of ‘Nawabs’. You can find the best deals here on ‘Chikan’ clothes, footwear and handicrafts. There is nothing that you will not find in Aminabad. Do bargain for best prices on all items. Some of the oldest and most famous eateries in the city are present here, Tunday Kebabi, Wahid Biryani, Kalika Chat House and Prakash Kulfi. Aminabad market is a paradise for food lovers where you will find the most delectable dishes at a very reasonable price and is highly appreciated by people from all over the world.

  • Timings: 9:00 am to 5:00 pm; except Thursday 
  • Entry Fee: Free

We are sure that now you are excited enough to explore the city. We have only covered the most popular places to visit in Lucknow and there surely are other places that you can visit like the British Residency, Chattar Manzil, Marine Drive, Janeshwar Mishra Park, Lohia Park and many more. Plan your visit in a way so that you can experience the best of sightseeing, shopping, and food in Lucknow.

My Journey from a village to Sushant Golf City Lucknow

My Journey from a village to Sushant Golf City Lucknow

January 24, 2022 0 Lucknow Real Estate residential

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.

sushant golf city

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.

Aryavarta Empire

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

Importance of having a bigger home especially post Covid

January 20, 2022 0 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.

Buy or Rent House

Should you buy or rent your next house in Lucknow?

January 17, 2022 0 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.