Rules for Real Estate Bill Finalised – 10 Changes that’ll Transform the Sector

Real Estate Act was long passed by the parliament in March 2016, and now the center has finalised the rules for same. All these efforts are put in by the government to ensure earliest regulation of the real sector in terms of transparency and consumer interest.

At the occasion Union Urban Development Minister M Venkaiah Naidu urged the private sector to join in and contributes its bit to meet the shortage of houses in the country. Also, according to him the bill is a ‘regulation and not a strangulation’.

Here the 10 reformers that this new bill will bring along once it get communicated to the states. Also, states will be given a mere time frame of 6-months to appoint regulators and bring this act into implementation.

  1. Developers will now be required to deposit 70% money acquired from the buyers in a separate cost of construction and land account.
  2. Commercial projects registration with regulatory authority is now mandatory.
  3. For any delays on the part of the developers or consumers, the concerned party will have to pay interest. Thus, ending developers favouritism.
  4. Insurance of land title will be covered under the bill.
  5.  Violation of rules will lead to imprisonment, 3 years for the developers and one year for consumer and real estate agent.
  6.  Plot area of 500 sqm or 8 apartments are now covered under norms for registration.

  7.  Reducing the scope of manipulation, the bill clearly defines carpet area.
  8. Developer now is liable for any structural defects up to a time frame of 5 years. Also, plans cannot be changed without the consent of at least 2/3 allottees.
  9.  Remedies will now be disposed in a shorter time frame in tribunals and regulatory authority.

10. Regulators are now required to submit information concerning to lay out plan, agreements,       status of approval, project detail, land status, implementation schedule etc. with the                     regulatory authorities.

Ten Benefits of GST Bill

Rajya Sabha made a historical development by paving the way for the goods and service tax bill. The said bill is expected to trigger GDP bump by a percent and even more.

Let’s see what all specific areas will this bill benefit and how.

1. Boost in Revenue, suppliers will pay tax thanks to tax credit. Also, decline in tax exempt goods will give a push to earnings.

2. Replace Many with One; GST will replace seventeen indirect taxes.

3. Fall in Cost of Capital Goods, full income tax credit (under GST) will reduce cost of capital goods by 12 to 14%.

4. Increased Protection from Imports, this new bill provide suitable countervailing duty.

5. Inventory cost will decline.

6. Creation of a Common Market, absence of which increases the cost by 20-30%.

7. Cheaper Manufacturing Goods, thanks to lower tax and logistic costs.

8. Development of All, with no 2% inter-state levy, new opportunists will be created for smaller states.

9. E- Commerce Wings will Spread, GST will put an end to many levies and state restrictions.

10. GPD Rise, thanks to elimination of tax cascading 80 basis point rise is expected in next 3 to 5 years.

India Adopts Global Standards to Measure Residential Buildings

In today’s scenario where consumer is considered the market king, one cannot take the risk to under-satisfy this purchasing-power giant even by an atom. In order to ease producers under such stiff circumstances some set standards were integrated helping them creating consumer favorable products. But over the time these standards changed with each passing crossing.

Even the real estate sectors haven’t remained untouched from this multi-standard environment. With global standards varying as much as 27% in residential apartments and 58% in residents home (according to recent RICS report).

Therefore, in order to bring uniformity and consistency in residential property standards globally an international alliance of eighty property firm has launched – Global Standards for Measuring Residential Buildings.

 With the implementation of these new global standers the Indian real estate sector will come at par with the high international construction practices. Thus, delivering high quality product to the consumer and ending the long grown confusion among the investors and occupiers in regard to standards that differ from market to market.

Features that Set Apart Trimurty from Other Market Players

Trimurty has been in the real estate arena for far too long, with its strong foundation led by Udai Kant Mishra, a trusted and renowned name in the real estate industry. What this man started single-handedly twenty-one years ago is now carried forward by his equally talented and acclaimed sons – Anand Mishra, Abhishek Mishra and Sharad Mishra. With the legacy flowing down the lane, things are only taking a promising turn. The three men are like three active shields that integrate Trimuty’s quality, reliability and care for environment fundamentals intact.

But the big question is what are the strong pillars behind Trimurty’s unbeatable market presence and unstoppable success?

 1. Greener the Better

Trimurty Group is a strong believer of SUSTAINABLE development. All its projects are planned taking care of mother earth and the creatures that are dependent on it.  Use of recycled material and low carbon footprints are ways through which it maintains a balance between development and nature.

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2. Care for the Elderly

Good values flow within Trimurty and it is very well visible through the innovative designs that are integrated keeping in mind the elderly.  Take, for example, their latest project Ariana that is equipped with amenities like anti-skid tiles and wheelchair user accessible doors.

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 3. Labor Safety is Never Overlooked

The safety of the real hard working group, whose sweat and energy go in making your dream home, is amongst Trimurty’s fundamentals. Each site has a fixed kitchen, toilet and medical room, making working environment easy and viable. Also, use of best-in-class safety equipment and safety signage are an integral part of the construction process.

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4. Quality Assurance

As mentioned above, quality is one of the foundation blocks of Trimurty and therefore each element from cement to external fittings is used only after appropriate quality assurance.

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5. Earthquake Resistant

Fighting natural disaster is never easy but when you are prepared things tend to move on your side. All Trimurty projects have hoop reinforcement (for seismic protection) and crack and dampness prevention, enabling the building with earthquake fighting tools.  blog picture trimurty builders Ariana construction

Five Clever Ideas That’ll Increase Your Home’s Storage Space

Gigantic or small, a house always needs ample amount of storage space. With mothers being the space claimer, who always needs to see all the things at their perfect place. As for others, we have a habit of stuffing thing at the next best place we find.

While still in the construction phase, it’s not always possible to imagine the exact storage requirement and work accordingly. The actual storage requirement gets into the picture only once we start living in the house of our dreams. It’s only then when one wonders that it would have been a good idea to add a little shelf here and a small compartment there.

Believe us; we know how difficult it is to plan post-compilation add-ons, and so here we are with some clever storage ideas that you can install easily both while and after house construction.

1. Get the most out of your BATHROOM

The bathroom is one special area in the house from where we practically start and end our day. And it is also the area from where we can fetch a hell lot of storage space that usually gets unnoticed.  Take, for example, the space below the wash-basin or the one above the toilet seat. You can add wooden shelves both open and closed and use it to store toiletries that otherwise go lying around visible creating a cramped look. Also, the backside of the door and the area surrounding the door edges can get shelves; it can be used to put in private toilet utilities, beauty appliances and even cute art pieces and aroma candles.

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2. Hidden Space Treasure in your BEDROOM

Now, like the bathroom, the bedroom too has many treasured storage spaces that will help you keep your relaxing station clean and tidy. Go for over-bed shelves or even a full wall shelf grid would be great to keep in your favorite books, picture frames or a memento, reminding you of the beautiful trip you had with a loved one. Under bed storage compartments are common, but their utility is unquestionable, stock it up with sheets, comforts and quilts for easy daily access. Also, you can use the closet’s inner door as a storage area by placing a behind-the-door storage kit. If you wish to add an office-work area in your bedroom and are worried that it’ll spoil the room décor, then a picture frame cum table is the thing for you. As the name suggest, it is a large picture frame with its one ends attached to the wall and one with removable table legs, making it the hidden workstation you always wanted.

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3. Storage Space by the STAIRS

Like the one in Harry Potter, remember. Will this one is a bit common in western countries and like many other trends it is also making its way into our homes. But unlike many other things, this idea is harmless, great and will serve you as a great storage area. Now depending on the staircase design and placement, you can either opt for a movable chest that fits entirely in the area or even a small store room if space allows.

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4. Unconventional KITCHEN setup

There are so many hidden spaces in the cooking station, and it’s better that we find them out on time because there is a lot to store in this area. Pegboards are a great way to initiate your kitchen setup; they are simple to place, come in varied sizes and can hang a hell lot of utensils. Also, put up shelves where you find space, go for vertical ones as they are sleek and serve as a useful storage compartment. If possible try keeping the wall and ceiling colour light with few pop-out elements as it will create an airy look.

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5. Smart FURNITURE is the key

Once your house is complete, the only thing that’s in your hand and you are allowed to play with is the furniture.These days the market is filled with smart-intelligently designed furniture pieces that are not only comfortable to sit on but have other purposes to serve as well. For example, you can opt for sofa –cum-bed, hidden compartment tables and convertible kitchenette.

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These are some easy yet smart home storage solutions that’ll help you fit-in-your home essentials and hide all your junk with ease.