Key factors influencing property rates

Real Estate Scenario in Nashik

Knowing the worth of a property is vital if you want to buy one or sell the one you already own. Knowing what elements influence this value is extremely beneficial since it makes predicting the cost of a property quite simple at any given point of time. 

Demand and supply have always been the major drivers of price. High demand and low supply leads to high prices, whereas low demand with high supply leads to low prices. As property availability decreases, the cost of existing available property increases. The reputation of a location in terms of people wanting to live there, when combined with a rise in the number of occupants belonging in a certain area, boosts its cost.

Let’s take a look at the factors that influence the value of property rates: 

Location:

Properties located in commercial areas have a higher market value than their residential counterparts. Brokers frequently quote greater prices for buildings in well-developed and approved colonies and areas than for those in less-developed and emerging places. Similarly, buildings developed on freehold ground attract a higher price than those constructed on leased land. When looking to buy a flat in any place, always pay close attention to the infrastructure of the neighbourhood. A place with a logically good infrastructure appears to have a better chance of being chosen by the buyer. In the same way, the value of real estate increases. Conveniences such as accessibility to major highways, closeness to schools, hospitals, stores, markets, and planned metro rail, among other factors, all contribute to higher land pricing.

Infrastructure Development & Amenities:

Property valuations are higher for properties with better infrastructure and modern amenities than for properties that lack proper electric connections, telephone lines, water sewerage facilities, and all other infrastructure such as community centres, children’s parks, swimming pools, gymnasiums, parking lots, or general stores. Property value is determined by the availability of essentials and amenities associated with pleasant living. Infrastructure development is the most important factor influencing real estate in India. 

Connectivity is one of the most critical needs for investors when investing. This leads to the idea that property near entertainment hubs, medical facilities, educational institutions, retail markets, and corporate areas, as well as other day-to-day amenities, is valued higher.

The presence of well developed roads, airports, flyovers, bus terminals, and other amenities in the neighbourhood also increases property rates and demand. 

Customization of flats:

When developers customise residential flats to meet the needs of homebuyers, the real estate price rises. For example, some buyers may want large porches or verandahs attached to their halls or bedrooms, modular kitchens, heat-resistant floors, or other unique changes.

Floor Level: 

Air, light, ventilation, scenic views, lift availability, etc are major factors that contribute to flats on varying floor levels. Flats on higher floors in premium residencies usually have a higher rate as compared to those on lower floors. 

As a result, the total value charged to the flat buyer increases in price. Every buyer should examine these drivers before deciding on their home purchase options to receive a fair assessment of the house that intrigues them. Better profits, painless liquidity, and lucrative investment can all be the result of careful investigation and research.

With over 2 decades of real estate experience, Ashar Group has invested in meticulous research and execution for all their projects. This is to ensure that property buyers need look elsewhere to fulfil their dream of a home complete with amenities, infrastructure, and a lifestyle. 

2022- The pivotal year for real estate investors

Real Estate Scenario in Nashik

Real estate has traditionally been seen as a sound long-term investment. This is due to the fact that housing values have a propensity to climb over time. These increases are also typically more than inflation, implying that investors are making money. The world, especially global markets, were, however, rocked by the pandemic that swept the globe. It has had a significant impact on various industries, and investors are correct in being wary about investing.

The good news is that home prices appear to be steadily increasing. Property values increased by 22% in 2021, according to records. In 2022, India’s real estate sector is seeing powerful growth in demand, which is likely to continue throughout the year. The real estate industry’s entire market forecast is good, from commercial areas to residential markets.

Safeguarded Interests 

In addition to this, the RERA Act was enacted by the government to defend and safeguard the rights of home buyers and ensure that they are not exploited by developers or builders.

RERA has specified certain building and development criteria for real estate that will increase the transparency of real estate transactions. It has given home buyers several rights and established specific laws and regulations that must be followed by all builders and developers. In addition, the RERA Act requires each state to establish a Real Estate Authority and an Appellate Tribunal. The property buyer can file a complaint with this organisation if the builder/developer violates the law in any way.

Increase in demand for peaceful localities 

The decision to invest in real estate is both financially and emotionally challenging. Whatever the case may be If a property is purchased for the purpose of living in the short term, the aspect of return on investment and price appreciation is always there in the minds of the investors. First-time investors aren’t passing up this opportunity because of the attractive and reasonable real estate prices. 

While investors have always had a keen interest in Mumbai City, given the booming rates and the already overcrowded city, property purchasers are actively researching choices in nearby districts rather than investing in megacities. Because investment in these locations is quite affordable, the prospect of a high return on investment is drawing investors from all over the world. Thane, Mulund, and Kalwa are proving to be the top three locations for home buyers. 

Thane is a self-contained neighbourhood with excellent access to the rest of the city. It combines the best of both worlds in terms of low-cost housing and a high-end lifestyle for homebuyers. Because of its accessibility, infrastructure, lifestyle, an influx of office spaces, amenities, and affordable housing, Thane is a successful real estate market and hence, buyers are keen on procuring these 1 BHK Flats in Thane.

The Kalwa real estate market is also booming and is home to various real estate developers who are offering 1 BHK flats. People invest in 1 BHK in Kalwa for a variety of reasons, including its proximity to Navi Mumbai, central Mumbai, and the western suburbs.

Mulund was once an industrial centre, but the region is now dominated by skyscrapers, premium residential complexes, and shopping malls. It is a hotspot for real estate investments that are growing at a rapid pace and hence the demand for a 1 BHK Flat in Mulund is high.

The Pandemic Impact

Despite the threat of a pandemic, the sector remained resilient and grew steadily in 2021. For a time, India’s first wave of Covid-19 brought the industry to a halt. However, by the fourth quarter of 2020, the market has begun to pick up speed, owing in part to increased demand for residential space. Residential sales increased by 65 percent on a sequential basis in Q3 2021, according to a JLL report. Low-interest rates, along with duty waivers (in some jurisdictions), realistic property prices, and appealing offers, will assist the business, resulting in cheap synergies.

The real estate index has grown by 75% in the last year and is the second-best performing sector index, outperforming the benchmark index Nifty50 by a wide margin. Real estate has not only made a comeback but is likely to thrive in the coming year, thanks to historically low loan rates and temporary stamp cuts.

Waiver in Fees

In the residential segment, India’s real estate sector is expected to rise by roughly 5% in capital value by 2022. According to some estimates, sales momentum will pick up in 2022 as prospective homebuyers continue to favour larger homes with more facilities, and attractive pricing will keep them interested in closing transactions. According to real estate analysts, now is the finest time in a decade to invest in real estate. With costs at their lowest and a supportive financing arrangement, there should be no more hesitation in making a purchase. 

Demand for Rentals

With office employment restarting, the commercial sector is on a rebound and the increase in rental properties is also on a steady rise. While most people are moving back to the city to resume work and hence looking for rental properties, a section of the audience is also moving towards quieter locations that offer multiple facilities. This demand for rental spaces is coaxing buyers to invest in second homes. 

To summarise, the real estate industry is flourishing, and the current market conditions are making it even more appealing. Waiting and watching were appropriate during the outbreak, but it is no longer prudent. Take advantage of low-interest rates, tempting schemes, and fantastic new designs to purchase a home. 2022 is the year when incredible possibilities turn into incredible choices!

The rise of a New Era, the rise of KALWA

Real Estate Scenario in Nashik

Kalwa has a storied past, a vibrant present, and a bright future. Being seen as Mumbai’s relative, outcasted earlier has carved out a place for itself as a prime location. A community is defined by its streets, which reflects in the residents’ beliefs, perceptions, and plans for the future. Kalwa makes a lovely collage that depicts the locality’s achievements and objectives. While the place is heavily dominated by Maharashtrians, Kalwa is also a great place to learn about various cultures. The streets are the heart of the celebrations and flash a good display during all major festivals. 

Kalwa is a demanding place, you have to love it only then will it love you back. If Mumbai is the city of dreams then Kalwa is the city of reality. Everything associated with this place is real and authentic. What is fascinating is its growth story. From a place, which had intermittent electricity and water supply, Kalwa has become a real estate hub featuring all luxurious amenities. Modern projects have provided facilities never imagined before. These projects feature lush-green gardens, better security and surveillance, a pollution-free environment, and better access to medical aid and healthcare facilities.

Kalwa, like any other rising city, is becoming a metropolis, with residents having enough to enjoy a higher level of living. This route is overflowing with outlets to satisfy the shopaholic in you, from name retailers to local shops. If you’re a gourmet, you’ll be happy to know that Kalwa is home to some of the city’s top Maharashtrian food.

Back in the days when travel was possible only by a train journey, the connectivity was low. With unequipped road infrastructure, traveling from Mumbai to Kalwa was a tedious task. This led to railways as the only option to travel. However now Kalwa is connected to several localities of Mumbai by a well-developed infrastructure. Several flyovers connect Kalwa to various locations in Mumbai. The city’s excellent connection via the central and harbour lines has also been a plus.

Kalwa is rapidly expanding, thanks to banks offering affordable home loans and real estate developers building spacious and trendy residences. Recognize that civilizations are founded on the foundation of individuals. When individuals begin to live in close proximity, a market emerges on its own. Kalwa has recently progressed past this stage and is currently competing with Metro cities in terms of living standards. In terms of sheer numbers, the Thane district has grown by 300 percent in the last five years.

If you ask the residents from 20 years ago, the peace and tranquillity provided by the natural environment of Kalwa are no less than that of a hill station. Surrounded by lush trees, chirping birds, and fresh air to breathe has been the perfect haven for most residents for many years. Despite the rapid development in terms of infrastructure, new residential projects, hospitals, schools, and many such amenities, Kalwa still remains pure with nature’s touch. Most prestigious residential projects have maintained natural beauty without compromise.

The desire to lead a comfortable, peaceful life has lured many city-goers to the peaceful side of Kalwa. This influx has led to the development of cocooned colonies and apartment complexes that offer beautiful 1 & 2 BHKs in Kalwa. These homes provide one with all modern amenities while being sheltered within nature. 

One of the most prestigious builders, Ashar Group, has their project in Kalwa – Ashar Aria, standing tall at 126 meters, the luxurious project offers many modern amenities with a lavish pool on the 22nd floor and an exclusive rooftop. 

Being one of the fastest development projects in the vicinity, it is well connected with major highways and the upcoming Metro route. But still doesn’t compromise on the experience of living close to nature. The mesmerizing views of Parsik hills and Ulhas river flank two sides of the project. Ashar Group is coming up with one more project in Kalwa to offer people modern 1 & 2 BHK homes. Now get ready to indulge and enjoy the life you have always desired and experience the making of Aanewala Kal Wah Hoga!

 

Top Reasons why HOME BUYERS should consider investing in KALWA

Real Estate Scenario in Nashik

Kalwa, which was once known for its commercial growth, has evolved into a preferable residential destination in Thane. The neighbourhood has everything in place to give it an edge over its neighbours, from good social and civic infrastructure to smooth connectivity ties. 1 & 2 BHK in Kalwa have been increasingly gaining popularity. 

Located in the northeast of Mumbai, Kalwa falls under the Thane district, a place majorly known for its industrial growth in the past couple of years. Kalwa’s transformation from commercial to residential development has been majorly led by its direct access to Navi Mumbai. The massive infrastructure changes and access to fine dining, shopping arcades, healthcare centres have made it the spot to invest and settle in especially with multiple options for suitable 1 & 2 BHK configurations.

Offering a variety of residential options that include apartments, bungalows, studio apartments etc., 1 & 2 BHK in Kalwa remain the most popular. More than 50% of the properties are 1 BHK apartments ranging from Rs. 45 lakhs to 90 lakhs. Kalwa has multiple opportunities for both investors and residents to select from some of the most reputed builders. This makes housing in Kalwa an affordable option for all types of investors. 

Improved Connectivity

One of the key elements that outshine this locality is its connectivity to commercial and residential spots in the city. The Eastern Freeway has reduced the time taken towards Mumbai Metropolitan Region and leads to smoother access to the International Airport and major railway stations. The talks to connect Mumbra and Kalwa to Thane and Mumbai via metro add to the cherry on the cake. This gives all residential and commercial projects a boost in the area. 

Recreational Opportunities 

Along with easy access to Mumbra waterfall adds to the list of recreational activities in the area. Three malls in the vicinity add to the charm for shopping, dining, and other fun activities. The locality also has access to renowned educational institutes and hospitals for medical emergencies located within 2-3 km from Kalwa.

Investment Potential

Kalwa’s popularity has been contributed majorly by the improved work opportunities and the increased connectivity across different areas. This has given the locality a much-needed hype. This market is perfect for investors looking for good investment options and also for first-time home seekers.

Upcoming Infrastructural Development

Many new developments are in line in Kalwa. The Kalwa bridge which is scheduled to open by 2022 end, will ease the traffic at Kalwa road junction further easing the connectivity to Mumbai-Pune and Thane-Belapur road. The existing Kalwa chowpatty will go through a major makeover to be transformed into a tourist friendly landscape with promenades, jogging track, walkaways, cycle track, open gyms, food court and a nice seating arrangement. The upcoming 550 mtr long skywalk will connect Thane station to Kalwa. It will run parallel to the railway track. This will be a faster alternative for the people to reach Thane station. Proposed Navi Mumbai Airport is all set to open in 2024. This will be a boon to the residents staying in the central belt and ease travel time.

Many reputed builders have their projects in Kalwa, one of them being Ashar Group. Their new project Ashar Aria is the tallest tower of Kalwa, standing 126 metres above the ground. A lavish pool and a rooftop with over 20 amenities only add to the luxury of this project. However, the Ulhas River and Parsik Hills lend the property serenity and only add to the beauty of the property. Only 10 mins away from Thane station, Aria is well connected to the bustling city life while being tucked away peacefully by nature. Ashar Group is also launching a one of its kind township project in Kalwa which has 1 & 2 BHK configurations. Experience and indulge in a life you have always desired for..kyuki Aanewala Kal Wah Hoga!

Embrace serenity in Kalwa while enjoying all modern amenities. Whether you are a new home seeker or just looking to move out of the city but do not wish to compromise on amenities and your access to Mumbai, Kalwa is the perfect opportunity to invest and move into. The all-access city life within nature defines Kalwa. 

Benefits of investing in Real Estate

Real Estate Scenario in Nashik

Most people’s bucket lists include buying a home, and it is one of the most important financial goals they can achieve. The independence that comes with achieving a life goal as important as owning a home is priceless. Real estate is a smart investment choice that provides passive income while also increasing the value of the property over time. 

The ordinary Indian buyer considers real estate to be a large investment. However, few people are aware of the associated expense deductions. The IT department treats the properties as small businesses, allowing buyers to take advantage of a variety of tax advantages.

Tax Advantages 

The Income Tax Act of 1961 contains many provisions that allow for a tax deduction for various components of the purchase or construction of a house, particularly where a home loan is involved, to encourage people to buy their own homes.

The principal and interest payments on a house loan can be divided into two categories. Different parts of the Income Tax Act of 1961 cover the tax benefits for repaying both of these components.

According to Section 80C of the ITA, persons who have made investments can deduct up to Rs. 1.5 lakhs from their total taxable income. Because buying a home is an investment, you can deduct the cost from your income and apply it to your mortgage. This tax benefit is based primarily on the total amount spent in that year on principal payments. Although there is no minimum claim amount, the maximum claim amount is Rs. 1.5 lakhs. 

In addition, loans do not just consist of the principal amount; they also include a significant amount of interest. Here’s when Section 24 comes in handy. Interest on loaned capital is exempted under this provision.

If the buyer or their family resides on the property, the buyer or their family can deduct up to Rs. 2 lakhs on home loan interest under the current tax regime. If you rent the house, you can still deduct home loan interest from the rental income under Section 24. (b).

Stamp Duty Exemption

Stamp Duty is a tax that must be paid when you buy a residence. You can deduct this amount from your taxes under Provision 80C, as long as your total deductions under the section do not exceed the upper limit of 1.5 lakhs. It’s vital to keep in mind that you can only claim this deduction in the year that the expense happens.

Capital Gains

Property prices in Thane have risen owing to its proximity to nature and rapid development, as well as the government’s announced measures to improve connectivity.

Property purchasers in this area have increased by 300 percent in the last five years, according to real estate specialists. Research says that Thane will see a surge of 40% job seekers. Such a forecasted increase in employment creation would result in a significant boost in home demand, which could lead to greater capital gain for Thane’s real estate investments.

The profit made if the property is sold within three years of purchase is referred to as short-term capital gain. Short-term capital gains are treated as income and are therefore taxed accordingly. A 30 percent tax is placed on investors whose total income exceeds ten lakhs rupees. After three years, the profits are considered long-term capital gains, which are taxed at a rate of 20% after indexation.

Long-term capital gains are profits earned from properties sold within five years of purchase. In this situation, the tax benefits under Section 80C will be reversed, but you will still be eligible for Section 24 benefits (b). Any money used to pay down the principal will be taxed, but loan interest can be deducted.

Tax Deductions on Depreciation

Depreciation benefits are by far the largest tax deduction for buyers, considerably improving their cash flow as they repay their mortgages. Real estate properties depreciate over time. The owner must reinvest in the house to maintain it by making repairs and modifications. Tax deductions are available for both the improvement expenditures and the depreciated purchase price. When the residence is occupied by the owner or a tenant, the depreciation begins.

Because a home loan has various tax benefits, purchasing a home is not only a financially viable decision but also one that provides tax relief. With home loan interest rates at their lowest in four decades, now is the best moment to make your house-buying dreams a reality. If you are looking to buy property, Thane is one of the most viable options for investment. 

Thane – the safe real estate investment bet 

Thane’s connectivity spans to Navi Mumbai, as well as Mumbai’s Eastern and Western Suburbs through road and railway networks. Thane has a lush habitat with minimal pollution levels in the air, water, and noise. Thane has become a popular residential destination due to its superb social infrastructure. Thane’s social infrastructure has been revolutionised by a diverse range of residential options, a multicultural population, and leisure options. Ashar Group’s projects with 1 BHK Flats in Thane are one of the best properties for investment. Due to the development of several business parks and the availability of effective social and civic infrastructure, the area, which is valued as a residential site, has also been drawing commercial enterprises.

While Thane is emerging as the next favourite for people to take residence at considering the high level of infrastructure, the low cost of living is also a major factor to be considered. 

  • Thane has more huge branded developers with major townships competing against each other than possibly any other city in India today. As a result, developers in Thane are far ahead of those in Mumbai in terms of best practices. Thane’s housing prices are more reasonable.
  • Premium projects in good locations in the city are 30-40% less expensive than their Navi Mumbai counterparts. With better connections and a strong social infrastructure, the area has become a popular choice for professionals looking for a place to call home.
  • Mumbai’s railway network through the Central Harbour Rail Line, Thane-Panvel Rail Line, and Central Railways also connects to Thane. The ease of travelling from Thane to various parts of Mumbai makes it the most viable option to reside in. 
  • Another key route of connectivity is the proposed metro rail, which would run along the Ghodbunder Road with more than ten halts within Thane. This will cut travel time in half. Other infrastructure projects planned include the Thane-Diva Road, the Bhiwandi bypass flyover, and the metro-3 project to Kalyan and Mira Road. 
  • The road and rail connectivity from Thane to Mumbai aid in faster and smoother travel for residents resulting in saving time and money. 
  • According to data from CRIF High Mark, a credit bureau, Thane had more active home loans than Mumbai as of December 2019: 5,82,613 versus 5,41,892. 
  • Homebuyers are now increasingly moving towards affordable homes without compromising on the standard of living. This has led to an influx of investments in Thane.

Thane has gone a long way from being a barren piece of land to today being known for housing lavish and high-end gated homes. Investors are optimistically looking at Thane, realising that a fantasy of living a rich life in a space-constrained city like Mumbai is a far-fetched idea. Thane city properties now provide residences in gated communities with even 4 to 5 bedroom apartments. Thane is rapidly growing into a full fledged township with a plethora of commercial establishments. Take advantage of the opportunity when it comes knocking! Make the most of a location that is still developing by investing in Thane to enjoy a higher standard of living at a low cost. 

5 Reasons why one should own a home in Majiwada, Thane

Real Estate Scenario in Nashik

Thane is emerging as the new popular suburb for most homebuyers, especially Majiwada. It qualifies among the top affordable housing regions in the city. Stronger connectivity, developments in Infrastructure and an increasing mid-level population is adding to Thane’s charm of an affordable suburb. Many renowned builders have set their base there, including Ashar Group. And now Ashar Group is all set to upgrade with 2 BHK Flats in Thane, as well as 1 BHK Flats in Thane, Majiwada making it one of the emerging localities in the region.

What makes Majiwada popular?

Connectivity 

Over the last few years, Majiwada has seen a transformation like no other. The advantage of good connectivity with Nashik, Bhiwandi, Western Suburbs along with a developing infrastructure have made it a hot spot. The project for three flyovers is underway at Majiwada which connects the residents to places such as Mulund, Thane-Bhiwandi and Mira Road and the upcoming Borivali tunnel which will further reduce the travel time. The upcoming Metro project of Thane will also increase the connectivity around this suburb. These major development plans by the government are increasing the property rates and giving rise to premium housing options. 

Nature Parks

With a string of well manicured gardens and nature parks around like Yeoor Hills and multiple lakes like Upvan lake and Talao Pali and other recreational areas, Majiwada is a perfect location for a green soul.

Lifestyle & Entertainment

Majiwada is your home for lifestyle and entertainment with various malls in and around the locality. Viviana being one of the biggest malls in Thane is a home to various branded stores and elite restaurants followed by Korum mall. With your home nearby, every weekend will be fun and exciting.

Education and Healthcare

Range of educational institutions like Smt. Sulochanadevi Singhania school, Vasant Vihar school, Billabong High international etc provide excellent quality education. Best in town hospitals are located nearby Majiwada mainly Jupiter Hospital, Mahavir Jain hospital, Bethany hospital which offer best healthcare services.

New Launches

Townships, buildings and multiple projects are being developed in the locality. Builders in the city offer quality infrastructure that tackle issues such as drainage, flooding, water clogging, waste management etc. Cleaner roads and better management of systems add to the charm of the city. 

Before the popularity of the area, the average price was Rs. 8000 per sq. ft. With the recent developments, infrastructure advancements and influx of bigger builders, the cost has shot up to Rs. 12000 per sq. ft. and is only going to increase. 

Ashar group’s newly launched project Ashar Axis in Majiwada, Thane offers access to some of the best amenities. Situated in the centre, the properties gives you access to all amenities of city life and allows you to enjoy the scenic beauty as well. So whether you want to relax in a swimming pool at the end of the day or overlook the Yeoor Hills, you are in for a treat at Ashar properties. 

It is one of the most prestigious projects with a 35 storey grand residential tower offering 1 & 2 BHK luxury homes with 3 distinct amenity zones. All homes are designed keeping in mind Vaastu and have a spacious loft for storage requirements as well. It is equipped with all modern amenities such as AC, Washing Machine, Geyser, Aquaguard, Chimney and a hob. Ashar Axis is truly a life space which completes all your desires and demands.

Lucrative offers, reasonable rents and home rates, quality housing and a lot more is what Majiwada has in store for prospective buyers. Along with quality housing, Majiwada elevates the quality of your life and offers you a higher standard of living. With all modern amenities and the serenity of living away from the hustle, life is peaceful at Majiwada. 

Premium Customised Homes in Pali Hill

Real Estate Scenario in Nashik

An expanse of green scapes, small bungalows set amidst trees and gardens overlooking the coastline, Bandra’s languid atmosphere has almost welcomed everyone. With the arrival of the Bandra-Mahim Causeway in the mid-1800s, the connectivity of this suburb to other parts of Mumbai lent to a different charm and opened the doors of exploration.

A place of varying people and cultures, Bandra has seen glory in all forms. Home to many superstars and artists, the locality has only grown in the past few years. Having the best of amenities from hospitals, top-notch schools, and colleges, massive shopping markets, it’s everything one needs in a place to settle down in. Bandra is one of the most expensive areas in Mumbai, luxury streets such as Pali Hill, Carter Road, etc. have sky-touching rates. However, luxury demands a higher price tag.

With the added amenities the locality has to offer, it is one of the most well-connected suburbs of Mumbai. Right off the Western Express Highway, Bandra is closer to the commercial hub Bandra Kurla Complex and also houses the Sea link connecting to the South of Mumbai.

When you weave through the lanes of Pali Hill, with the premium buildings shadowing the roads and the quaint bungalows lining the streets you instantly get a whiff of luxury and class. The poshest location of Bandra tells the story of heritage and luxury. The irresistible charm of the suburb rooting from its Portuguese and British heritage makes Bandra the Queen of the Mumbai suburbs.

To ensure a timeless experience for residents, Ashar Group has launched their ultra luxurious project Navroze in the heart of Mumbai – Pali Hill. This bespoke residence is OC received and ready to move in having 3 luxury customisable residences – The Sky Villas, The Mansions and The Suites of which The Sky Villas and Mansions are sold out. It also offers one a kind 6500 sq.ft grand residence – The Penthouse which has earned a distinction of one of the most elite properties in the country. With lifetime panoramic sea views, columnless floorplate, fully customizable homes and 500 sq.ft open to sky party deck, this luxury residence is truly a space reserved for the connoisseurs of elite experiences.

A visible landmark from the sea, this high rise is architectured to lend a graceful, timeless experience. The amalgamation of modern and classic interiors only adds charm to its extravagance. The fully-customizable space is enhanced with sky-decks, floor-to-ceiling windows, top-class security, dedicated access, and more. When you enter the gates of Navroze, you enter the world of luxury meant only for you.

Amidst the many iconic places Bandra has to offer, you find your fortress right at Navroze. Equipped with a lounge, gym, and swimming pool, you won’t feel the need to step out unless you wish to explore the quiet by-lanes of this rich suburb. Bask into a distinct view of the city, or meditate in the lush greens in the zen zone, Navroze is where serenity meets under blue skies.

Being one of the finest locations in the city, a visit to the site is by invitation only which only adds a hint of intrigue to this project.

1 BHK or 2 BHK? Which one is best suited for you?

Real Estate Scenario in Nashik

As the urban lifestyle and pace evolve, our choices and approach to everyday life also keep evolving. One of the best examples of this is the concept of a nuclear family and the way they function and keep up with the changing pace of life. Many people are perplexed when it comes to deciding whether to buy a 1 BHK Flats in Thane or 2 BHK Flats in Thane. The 1 BHK vs. 2 BHK unit dispute is typical among budget-conscious homeowners, particularly first-time buyers looking for a small family home or a bachelor pad. However, deciding between the two possibilities will be difficult. You’ll have to think about things like property pricing, location, builder, and space, among other things.
Making plans for the future

A 1 BHK may appear to be the right balance of cost and coziness as a beginning house. Buying a house, on the other hand, is a long-term investment. You may believe that a 1 BHK apartment is sufficient, but if you wish to grow your family, it may become crowded as time passes. A 2 BHK flat, on the other hand, provides adequate space for a nuclear family to live comfortably.
The size of your family is one of the most important factors to consider while selecting the appropriate flat size. For a family of more than five people, a two-bedroom apartment may not be the best option.
People nowadays are opting for a three-bedroom flat if their family consists of three individuals and they have a sufficient budget for the three-bedroom flat. Even if your household is only two people, but you have frequent and recurring visitors, you will require an extra room. In this instance, the best option is a two-bedroom house.

Supply and demand

A two-bedroom apartment is great if you’re a bachelor or have a small family. Because the demand for 2 BHK homes is usually higher, builders give special attention to the design and construction of these homes.

As a result, 2-BHK homes have more facilities and design alternatives. As a result, you will typically find a larger and higher-quality 2 BHK property than its 1 BHK equivalents.
Also, due to the great demand for 2 BHK properties, it will be easier to sell if you are acquiring a home only for investment purposes.

Budget

It’s no secret that the Indian real estate market is price-sensitive. Almost every buying decision is influenced by the cost. If you have a small family or live with your parents, a two-bedroom apartment is a better alternative to satisfy your space needs.

The most crucial consideration in determining the best house for you is your budget. According to research, a 2 BHK flat is cheaper than a 1 BHK flat in terms of the space ratio and the money.
The pandemic has been one of the most significant factors in recent times.If you have not been financially affected by the pandemic, then opting for a 2-BHK would be ideal. If your budget is limited because of pandemic concerns, then 1 BHK flat is the best option.

As a result, if you take out a home loan to purchase the property, you may still afford a large apartment while still fulfilling your other monthly responsibilities.

Costs of upkeep

Maintenance is one of the most important considerations when determining the appropriate size for your dream home. In terms of absolute costs, 1 BHK flats are less expensive to maintain than 2 BHK flats. 1 BHK flat is the best option for you if you want to acquire a property that is low on maintenance. Furthermore, by paying a higher maintenance cost, you obtain a larger carpet surface, which is a sensible investment decision.

To summarise, you can choose a 1 BHK to be your new beginning or a 2 BHK to be your space saver.

1 BHK – Your new beginning

  • Ideal for a newly wed pair
  • Perfect for first time buyers with limited budget
  • Good investment option for first time buyers

2 BHK – Your space saver

  • Suitable for a growing family
  • More space enhances the elegance and allows to host family and friends
  • Offers plenty of space and a high return on investment

When purchasing a home, you can now select between the two alternatives. Ashar Group offers thoughtfully designed 1 & 2 BHK apartments to match and suffice your needs, taking into account both sides.
So, choose the right one and reserve your ideal property right now! Take a look at these fantastic homes offered by Ashar Group in Thane and MMR.

Renovating? Here’s how you can avoid the most common errors!

Real Estate Scenario in Nashik

As exciting as the prospects of renovating your space sound, it needs to be treated with equal caution. Whether it’s a DIY project for your new bedroom space or you are hiring a professional service, it is integral to move forward with utmost care and precaution. Renovations, in a nutshell, can be the most rewarding investments for life. However, before you take the first step, here are a few measures to take note of:

Budget Allocation

Pick a number that you can actually stick to. Budgeting when remodeling or renovating is highly important. Always have a cushioned budget that allows you to overspend over 15-20% because the end result will always be over the estimate you’ve received.

While in the process of renovating there will be instances when you may opt for pieces that you would want to spend more on. So always keep space to spend extra over your initial estimate.

Prioritizing Appearances

The perfect-looking furniture and paint job is important but what should take first place is ensuring structural fixes. Right from updating electrical systems to waterproofing walls, a healthy internal and external structure go a long way towards a long-lasting renovation job. Never ignore these minute details when finalizing and planning your budget.

The Right Contractor

Pinterest is great, but it is not the right place to turn to when you need expert advice. Having said that, never rush to hire a contractor. Always consult at least three-four contractors, get estimates, ask questions and understand the kind of job your space requires. A good contractor doesn’t easily come by, work towards hiring someone who will make your space beautiful and long-lasting.

Ambiguous Plans

This may sound like a repetitive broken tape, but always make a to-do list! Once the hammer hits it’s difficult to undo that. Before you start working on anything, have a blueprint of what your space truly requires. Do not move into remodeling without a plan as it may lead to spending more and the job half done. Having a well-set plan will always help move faster and cost less.

While these are only some measures that need to be taken into consideration when starting out, there is a lot that has to be considered prior to renovating your space. Bring an expert on board to help you plan. After all, renovations are an investment, one that needs to be carefully managed.

Understanding Property Tax

Real Estate Scenario in Nashik

When we get to a certain age, we tend to buy or invest in some property; if not, then at least our elders might have some. It can be a house, a car, or anything major in value. These are like assets to us as their value is high, and they are tangible. One needs to have a proper understanding of property taxes and at the same time, be updated with the necessary information/changes throughout the year. The tax is calculated depending upon the property you own, and by multiplying the tax rate to the property’s current market value. Tax assessors determine how much tax you are supposed to pay by looking at the amount of property you own. Every country has its way in which the tax is levied upon.

Let's now understand how the property tax is assessed

Diverse property types have different sorts of duties evaluated on the land and its designs. For instance, empty land will have an altogether lower evaluated esteem than an equivalent piece of property that is improved. Accordingly, it will have lower local charges, when there is no development on the land, the charges are different from when there is the development. Also, depending upon the location, the charges are out on the place, and then the tax is levied accordingly. In case there is admittance to public administrations, like sewer, water, and gas, the land appraisal may be higher. If the assessor feels that the land can be created, it could prompt a higher appraisal and more charges for the proprietor. The sum that a property is burdened comes from a level of the surveyed worth of the property.

Here is how property tax is calculated.

Property charges of any space are calculated based on multiple factors such as location, current property rates, etc. This also takes into consideration land as well as the type of property. Property tax is calculated through different methods:

  • Capital Value System – Determined by the market value of the property set by the government
  • Unit Area Value Systems – Determined by the unit price of the built-up area
  • Annual Rental Value System – Determined based on the rental value collected each year

Property tax is not unified across the country, it varies from state to state.

The property charges of any place are determined utilizing the worth of the property depending upon the location and the current real estate rates. This incorporates both the land and the type of construction. Commonly, tax assessors will analyze the property each one to five years and charge the proprietor-of-record the suitable rate keeping the guidelines set by the authority. Assessors ascertain that worth utilizing the plant demand additionally called the millage tax and the evaluated property estimation.

There are also mortgage calculators which are available online, which will help you in determining the tax you will be paying on particular amounts of property, and this is a great way to always keep an estimate about your taxes.

Here are some of the mistakes that you should avoid while paying for taxes:

  1. Always fill your taxes on time. Don’t avoid it
  2. Don’t make calculation errors while filling.
  3. Fill in the right form and enter the right details carefully.
  4. Always be updated with the new tax rules.
  5. Do not mess up the account numbers.

Understanding property taxes is important, and when you know how to do them, you become a responsible citizen and do your part for the economy.

Source: https://www.coverfox.com/personal-finance/tax/property-tax/

Let's now understand how the property tax is assessed

Technology in Real-Estate Industry

With the shift in consumer behaviour and the ever-changing market conditions, the real estate sector is undergoing a gradual upheaval. However, these changes are only enabling this sector to evolve and adapt. One of the most crucial changes in this sector is the adoption of technology. Innovative solutions in the form of software, platforms, and applications are the driving force leading towards growth.

With the initial decade being paramount as a learning curve, phase two for PropTech or Real Estate Technology began in the 2000s. This phase was keen on utilising existing tech to transform it into a new experience. This has also assisted in the disruption of the real estate model.

However, the recent phase in PropTech that is currently dominant is embracing innovative solutions such as Augmented Reality, Virtual Reality, Drones, etc. The access to productivity tools and analytics have paved the way for agents’ increasing efficiency and providing a quality sales experience. One of the major impacts Real Estate technology has had on the industry is identifying quality leads. Lead generation platforms have simplified the search and helped connect with a niche audience. What’s also helping fast-track this is the initiation of AR(Augmented Reality), Virtual Reality, AI(Artificial Intelligence), and much more.

Let’s take a look at the advancements in the industry.

  • Management Softwares – Softwares help agents manage their customers online by ensuring timely reporting, automated reminders, screenings, appointments, etc.
  • Mobile apps – While having a website for your real estate is a hygiene practice, a mobile app also makes a lot of difference. This allows buyers to view all property details easily, can help schedule visiting tours, view VR tours, and with a chatbot, the implementation makes it easier to resolve queries.
  • Virtual Reality – At a time when even high-resolution photos don’t suffice, VR is the new solution. Virtual tours are the most recent technological trend helping millennials buy property from the comfort of their homes. Making use of this technological feature, Ashar Group has successfully conducted multiple virtual tours for their customers during the lockdown.
  • Augmented Reality – AI is transforming the way the real estate industry is conducting business. From utilising chatbots on websites to leveraging automation with CRM systems, the adoption of technology is bringing a new wave of convenience. Data analytics has also significantly impacted this sector which helps harness profitable opportunities for businesses.
  • Big Data – One of the most important changes that have evolved the real estate industry is personalised recommendations. In the current scenario, agents are able to make recommendations based on the wants and needs of buyers. However, big data will emerge with more intelligent recommendations in the near future.

As the COVID pandemic made way for a digital shift, Augmented Reality and Virtual Reality have created opportunities for virtual tours. Providing a realistic reflection of the look and feel of the actual property, these tours have made property buying and selling convenient for all parties.

The real estate sector has traditionally been a largely unorganised space but the evolution of these technological advancements and the disruption has made the sector more approachable for investors, and builders.

Latest Guide to Stamp Duty in Mumbai

Real Estate Scenario in Nashik

The joy of buying a new home is priceless, especially with skyrocketing prices and the demand for real estate increasing by the day. However, as exhilarating as the purchase is, the process is equally daunting. Right from own payments, loans, registration agreements, there are several factors to consider when purchasing a property. Once all of these are swept under the rug and you finally get possession, there stands the requirement for Stamp Duty and Registration under your name.

Don’t get all flustered, we’re going to cover the basics you need to know about charges for Stamp Duty and Registration along with steps on online payment.

The Maharashtra Stamp Act & Stamp Duty in Mumbai

Stamp Duty registration is a tax levied by state governments to property holders inclusive of commercial and residential spaces. The Maharashtra Stamp Duty act passed in 1958 makes it mandatory for all property holders to register their names in local municipal records for legal possession of the property. The current stamp duty on property is charged at a rate of 5% in Mumbai and 6% in the rest of the State. However, W.E.F. March 2021, a special rebate of 1% applies to female owners. Hence, any property transferred in a woman’s name is eligible to pay only 4% stamp duty. This does not apply to joint owners of the property.

Registration charges for properties in Maharashtra are charged at 1% if the value is below Rs. 30 lakhs or it’s charged at Rs. 30,000 for properties exceeding Rs. 30 lakhs.

There are a few factors that also determine payment of Stamp Duty:

  • Commercial and residential property types have different stamp duty rates
  • Market value and area of the property are considered to calculate stamp duty
  • Urban areas are charged a higher stamp duty whereas rural properties are charged lower rates.

Payment of Stamp Duty in Mumbai

To make the process easier for homeowners, payment and registration for Stamp Duty can be done through an online process. With a few simple clicks, one can easily pay through the e-stamp facility.

To make your e-payment, follow the below steps:

  • Visit the Maharashtra Stamp and Registration Department website.
  • The website allows you to either register on the website and pays or even pay without registration. Select ‘Citizen’ under ‘Type of User’, and then click on ‘Make Payment to Register your Document’. The website allows you two options, either you pay only stamp duty or stamp duty and registration fees together.
  • Fill in the necessary details requested such as District, kind of document, property details, etc.
  • Once you have filled in all required details, choose your payment gateway to make the payment online or across any banks via cash/cheque.

Voila! It’s all done! With the simplified online procedure, the government has made the payment of Stamp Duty and Registration hassle-free. A buyer can also request a refund on Stamp Duty under special circumstances such as incomplete documents, unsigned papers, etc.

Source: https://gras.mahakosh.gov.in/igr/frmIndex.php