How Technology is Propelling the Construction Industry

Technology has played a pivotal role in ushering in a new era of progress, efficiency, and innovation. From conceptualization to completion, technology has transformed every stage of the construction process, revolutionizing the way projects are designed, planned, executed, and managed.

One of the significant advancements is the Building Information Modeling (BIM). BIM creates detailed 3D models that integrate information on architecture, structure, and services. This digital representation enables architects and other construction professionals to collaborate seamlessly, detect clashes or conflicts early, and optimize designs. BIM facilitates better coordination, reduces errors, minimizes rework, and improves overall project efficiency.

In addition, the use of drones in the construction industry has skyrocketed. These unmanned aerial vehicles provide a bird’s-eye view of construction sites, allowing for accurate surveying, mapping, and monitoring. Drones capture high-resolution images, collect data, and generate comprehensive visual reports. This technology enhances safety by minimizing the need for workers to access hazardous areas, facilitates real-time progress tracking, and aids in identifying potential issues before they escalate.

Ms. Seema A Jobanputra, Director of the Ashar Group, recently wrote a published article and threw light on a few key future developments. New construction technologies have emerged and significantly impacted construction businesses in India. 57% of all proptech startups deal with construction and technology (contech). Technology has helped save around 25% of time and avoid rework up to 80%.

Robotic technologies and automation have also made significant contributions to the construction industry. Robots can perform repetitive or physically demanding tasks with precision and efficiency. For example, bricklaying robots can lay bricks faster and more accurately than humans.

Moreover, augmented reality (AR) and virtual reality (VR) technologies have transformed the way construction projects are visualized and experienced. AR and VR allow stakeholders to immerse themselves virtually. These technologies enhance communication, facilitate better decision-making, and improve client engagement.

Technology is changing the Indian real estate market in several ways:

  • Application Programming Interfaces (APIs): APIs are sets of rules and protocols that allow softwares to interact and exchange information seamlessly.
  • Internet of Things (IoT): The Internet of Things (IoT) refers to the network of physical objects embedded with sensors, software, and connectivity capabilities that allow them to collect and exchange data online.
  • Construction Management Software: It is a project management software that caters specifically to the construction industry. It enables the automation of several construction related processes and tasks.
  • Building Information Modeling (BIM): Building Information Modeling (BIM) is a digital collaborative process that consists of creating and managing information of a construction project throughout its lifecycle.

To conclude, technology has transformed the construction industry by introducing game-changing tools and techniques. From BIM to cloud computing, technological advancement has contributed to increased efficiency, improved safety, reduced costs, and enhanced project outcomes.

To read more such insightful articles, keep following the blog section on the Ashar website.

8 Things to Know before buying a Luxury Home in Mumbai

Real Estate Scenario in Nashik

The demand for luxury residences is continuously increasing significantly in the metro cities of India. Having a home in the nation’s financial centre is unquestionably a sign of status and prestige. It conveys a great deal about the buyer’s desired lifestyle. Here are some helpful pointers to take into account when buying a luxury property in Mumbai.
  1. The choice of a property from a reputed developer is crucial, in addition to the location. While pursuing luxurious homes by a developer in Mumbai, homebuyers must look for exceptional architectural design standards, cutting-edge technology, and engineering innovation. Such builders and developers in Mumbai ensure this level of elevated lifestyle and adhere to providing a comfortable, modern and stable architecture in the apartment. 
  2. Reviews from numerous buyers who have bought homes from developers will be reliable. Before you decide, you can evaluate the developer’s present properties and weigh their differences and similarities, which is crucial when buying a home because it is a significant financial investment. When determining the quality of a home, factors like effective use of space, structural integrity, plumbing, wiring, etc. are crucial, and real estate developers work hard to provide this industry-leading level of quality.
  3. Having a family-friendly environment is extremely crucial for all types of home-buyers. Always look to see if the space is large enough to set up a small play area at home, or an office set-up. Even the amenities provided by the builder must have kid-friendly activities, lounge and yoga decks for senior citizens, sports activities, etc. While looking at luxury developments in Mumbai, all of these considerations should be in the back of your mind.
  4. Always consider an apartment’s layout and design, especially when looking at 3 BHK flats. When purchasing bigger flats, the utilisation of space is crucial as it helps maximise your amenities and features. Be sure to check the regulations required to be fulfilled by builders about open spaces in your flat. 
  5. Purchasing a home is an investment in a desirable neighbourhood. One of the most crucial markers of a project’s richness and extravagance is the establishment. When purchasing a luxury property, you can be sure that your neighbours share your interests. When you buy a property from a reputable real estate developer, you can be confident that the local gentry meets your high expectations.
  6. Amenities distinguish a luxurious home from a regular one. Take into consideration the standard of the amenities that come with the home when purchasing a premium property.
  7. One thing to be cautious of is to make sure that flats in Mumbai don’t take you away from facilities. Make sure your property is close to hospitals, schools-colleges, shopping and entertainment most importantly connectivity to major routes so you reduce your travel time and spend most of your time with your loved ones.
  8. Purchasing a luxury property is an important decision because it requires a sizable financial commitment and should reflect the status and stature of the buyer. Therefore carefully consider the return on investment and appreciation of the property in the near future. 
A luxurious residence is a representation of grandeur, grace, and character. Be careful to select a property that delivers a feeling of opulence and is a permanent home.

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.

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.

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

Impact of Work From Home on Real Estate Industry

“The Only Constant in Life Is Change.”- Heraclitus. But the change that COVID-19 brought in our lives – no one saw it coming. Hygiene & safety became an utmost priority, and the pandemic-led lockdown turned our homes into everything from a restaurant & office to garden & temple, from a gym & shopping mall to a cinema & a recreational centre. This change in the meaning & purpose of a ‘home’ radically transformed the real estate market – residential, commercial and vacation homes.

Impact on Commercial Market

The Commercial Real Estate market witnessed both risks and opportunities:
  • There was a decline in demand for commercial spaces
  • There is a rise in demand for co-working spaces
  • There is a rise in demand for spacious & open commercial spaces, considering physical-distancing
  • There is a boost in subleasing powered by companies with longer-term leases

Impact on Vacation Homes

Work from home (WFH) gave rise to another concept known as ‘workation’. Many organisations introduced the workation concept which empowers professionals to mix business with leisure.

Workation turned the tables for the market for vacation homes. The growing number of the middle-class, higher middle class, NRIs and HNIs began exploring vacation homes in their country, within driving distance of metros – in smaller towns and nearby holiday destinations such as Nasik, Lonawala, Alibaug, Karjat, Goa, Panchkula, Kasauli, Shimla and Dehradun among others.

Workation was a win-win situation for employers, employees & the real-estate market. As for the employers & employees, workation facilitates living and working from vacation homes for long durations, without compromising on work or family life.

For the real-estate players, the sale of vacation homes & in turn profitability went up. Striking while the iron is hot – developers started offering competitive prices. This fuelled by low-interest rates on home loans by financial institutions, second-home & vacation home became the preferred choice of investment for travel-savvy professionals who earlier enjoyed annual holidays.

Impact on Residential Market

Work from home (WFH) has overshadowed the previous ‘gold standard of Indian housing – the walk-to-work/short drive to work. This has led to future homebuyers shifting to the peripheral areas in search of bigger homes and a better lifestyle – at more affordable prices.

Understanding that the work from home (WFH) is here to stay, the millennial generation – who are the future homebuyers have a new-found preference for buying rather than renting homes.

They are now preferring to live in more spacious and cost-effective homes in less central areas. This new demand has dictated fresh supply.

Affordability and Price Quotient

Apart from changing real estate consumer preferences due to work from home, affordability has played an important factor in the shifting & rising demand towards residential property purchase in peripheral areas such as Thane & Mulund.

The cost analysis of real estate in MMR is as follows:

In MMR (Mumbai Metropolitan Region), the average price for a standard 1,000 sq. ft. property in areas within city limits is approx. Rs 1.85 Crore, against Rs 55.35 lakh in the peripheral areas – a 70 per cent cost difference. Micro-markets within city limits included Andheri, Vile Parle, Goregaon, Malad, Kandivali, Chembur, Wadala, Ghatkopar, Vikhroli, Powai, Mulund, etc. Peripheral areas include Kalyan, Bhiwandi, Dombivli, Mira Road, Vasai, Virar, Thane beyond Kasarvadavali and Owale Panvel, Ulwe, Taloja, etc.

The average monthly rent for a standard 2 BHK home in areas within city limits is approx. Rs 45,800, against Rs 12,500 in the peripheries.

Conclusion

All in all, the work from home (WFH) culture popularised by the COVID-19 pandemic has proven to be a mixed bag for the real estate sector.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

How to choose your dream apartment

FIND THE HOUSE OF YOUR DREAMS

How to know if a house is right for you?

You’ve long been dreaming to own a house, saving up to turn it into a reality. But finding a dream property in the city of dreams is no easy task. There are many points to consider: location, amenities, safety, value for money, appreciation rate, size & layout of the apartment, and the list goes on… If luck permits, you’ll get them all, but if not, you might have to compromise on a few factors, but which factors are worth compromising? Aargh! This might get annoying.

Once you’ve found a close match, how to be sure that this is the one? Well, fear not, we are here. Here are some valuable tips and ideas on how to choose the property that best fits your needs.

Define your budget

Before your house-hunting spree, determine your budget. To estimate your budget, you need to know: 1) your earnings 2) savings/collateral.

Map Your Location

Location is by far the most critical considerations you can make before signing your purchase papers. If you have children, you should ideally select a property that is located nearby an educational institute. Additionally, your future home should be well connected to roads and public transport, it should be closer to hospitals & shopping malls, etc., and be safe. Last but not least, the residential complex should have all the necessary amenities and facilities.

Choose the Proper Layout

What type of building do you prefer? One where you can walk up to your home, or a high-rise elevator building? Do you own a vehicle to park?

Determine an apartment size that’ll work for you, a 3, 2 or 1 BHK? If you dream of spending your mornings on a balcony, check if the building offers one. Are you looking for an apartment with a master bedroom, a separate dining area; or for that matter, with the work from home culture slowly becoming a norm post-COVID, does the apartment offer a separate workspace?

Own a pet and want to bring them, add that to your must-haves.

Evaluate the space

While house hunting, carry a notebook. Jot down the pros and cons of the flat and evaluate the reasons behind this. If the walls need some fresh paint or servicing, note down the areas requiring proper scrutiny. Are there any visible damages? If yes, take pictures of them. Also, check for essentials such as a gas pipeline, water & electricity supply etc.+

Take Care of Amenities

Along with the essentials, you should check for the amenities provided by the developer. If you are a fitness freak, a well-equipped gym in the vicinity might be of interest. Kids might be keen on a clubhouse or a garden for their recreational purposes. Also, with elders in the house, you might want to consider having worship places inside/nearby the society.

A home needs maintenance too. So, check how accessible are the plumbers and electricians etc.

Moreover, it’s important to check if these amenities come for free, or you’ll have to shell an additional amount for it.

Run a background check on the builder

Check the credibility of the builder based on parameters such as record and performance, quality accreditation and certification, recognition in real estate, etc.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.