Make smart move don't pay off your mortgage early

Sukanya Kumar
RetailLending.com

Many people jump at the first opportunity to pay off their mortgage, and while it may seem like a great financial relief, a closer look can help us uncover the advantages of holding on to a mortgage until the end of its tenure.

There may be a belief that paying off a mortgage delivers peace of mind, financial freedom and a sense of financial security, but this belief may be short-lived once you compare it to the benefits of holding on to your mortgage. Many of my clients start off with this view, and it's surprising how many of them don't consider the benefits of not paying off your mortgage early. For a person unaware, it is an astonishing eye opener as its counter intuitive to their thinking. Let take a closer look at these benefits. 

#1 It's the cheapest loan available in India
With the current interest rate levels of home loans, it is certainly the cheapest form of credit available in India. Other financial lending products such as personal loans, educational loan, credit cards and business loans are significantly more expensive than home loan products. So this begs the question, why pay off the cheapest loan? Rather, it's better to pay off the other types of loans and hang on to your mortgage.

#2 Maximise on the retirement premium
Over the years with increase in inflation and cost of living, it is scary, at the least, to imagine living without a regular inflow of funds post retirement. Understanding this fear, retirement products to secure your future are available form banks today. In case of extra funds, it would make logical sense to invest this surplus into retirement products allowing one to have access to funds post retirement. It is advisable that people invest into these products rather than using them to repay the mortgage.

#3 It's a tax saving investment
Sections in the Income Tax Act, namely 24(b) and 80EE, allow for significant deductions on the interest payable on a housing loan. These deductions are major advantages of not paying off your mortgage early. Why pay it off and lose the tax benefit?

# 4 Saving for emergencies
We live in a world of uncertainty, and the need for surplus funds may arise at any time. It is always a good idea to keep a contingency fund for unplanned medical, repair, and accidental expenses that may just pop up their ugly head every once in a while. Surplus funds should be used as a contingency corpus for these types of expenses that none of us can predict.

# 5 Enjoying your retirement
After working for most of your life, we all deserve to enjoy our post-retirement phase. Saving for traveling the world, spoiling your grand kids, and just plain enjoying your life is a great idea. Most people spend 25-30% of their lifetime's earning post-retirement, why spend it in a cash-poor and miserable way? Invest into enjoying this phase of your life from now, and avoid using free funds in foreclosing your mortgage.

After analyzing the benefits, it's easy to see why you should resist foreclosing your home loan sooner than required. There are much better ways to use your surplus funds, and these methods are bound to give you true financial security, peace of mind and happiness. Maybe counter intuitive, but definitely the smarter move!

23.55 | 0 komentar | Read More

Beware: Fill your investment declaration carefully

Arnav Pandya

Salaried individuals often find themselves in a bind because some of their financial details have changed and they find that the tax that is deducted each month is actually higher than what it should be. One of the ways in which they can tackle the position is through the use of the investment declaration form as this would allow them to ensure that they have mentioned the right points to their employer who would take this into consideration and hence ensure that a lower amount of tax is actually deducted. Here is a closer look at the issue and what the individual can actually do.

Actual process
There is a certain amount of income that is earned by the employee and this is distributed under various heads. Depending upon the figures here plus the various tax saving investments that would be undertaken by the employee during the year the employer works out the annual tax liability and then ensures that the required amount of tax is deducted each month on the salary that is paid out. Thus there are two main factors that are at play here. One is the income amount and the heads under which this is received while the other is the investments that are actually done by the individual which will lead to the benefit of a lower tax for them.

Changes
The ideal situation for the individual taxpayer would be that the details of the investments and other processes that they do is available right at the start of the financial year so that these details are provided to the employer in the investment declaration form. This would ensure that the entire figure is considered by the employer right from day one and the maximum possible tax savings are considered in the workings and the action is taken accordingly. However this is not always the case as there might be some steps that happen in the middle of the year which might not have been present earlier. This could be something like a home loan taken after a few months from the start of the financial year so this might not have been present in the earlier workings but would now have to be included because the impact can be quite significant.

Prompt action
Whenever there is any such change that is actually witnessed then the individual should ensure that they transmit these details to their employer. This might require the filling in of the investment declaration form again with the updated details and giving of some other details that would help the employer in ensuring that the right amount of deduction is done on the tax front. The employee should ensure that they consider this aspect and finish this process because there is a need to ensure lower tax deduction and this opportunity should not be missed. If this is not done immediately then there could be a higher tax deduction which they would need to claim later from the tax department as refund.

Need
The need to ensure that there is some action taken on this front is important because this is to ensure that while the issue is still with the employer before the end of the financial year in terms of the amount of the tax deducted at source the right details are considered.  If this chance is missed out then there would be a position where the individual would find that they have to take the refund from the government which can only be done when the return is to be filed and hence this will have a long time lag. This would mean that the amount involved during this time would not be recoverable but early action could lead to adjustments in future tax deductions during the year.

23.55 | 0 komentar | Read More

How can Budget boost real estate sector?

Kishor Pate
Amit Enterprises Housing
 
The forthcoming budget announcement by the financial ministry of the new government is a critical one. It will be the first step on the 'walk' that must follow the electoral 'talk' of economic recovery and ushering in new, growth-oriented policies for the country. At this stage, every industry in the country - from textiles to agriculture, from aviation and tourism, from manufacturing to banking and allied financial services, from pharmaceuticals to information technology, from telecommunications to healthcare and from retail to real estate, depends on major fiscal reforms.
 
It is not only India's continued viability in the global sweepstakes that is at stake now. The very welfare of its people and a revival of their trust in their country are on the 'critical' list. Over the past few years, the confidence that Indians have in the power of a ruling government to revive its flagging fortunes has been esriously eroded. Bureaucratic muddle, corruption and policy paralysis have become accepted norms. The arrival of a new and very proactive government at the centre is the first sign of real hope for positive change.
 
Boost industrial expansion and output

A country's economic health rides on how well its primary industries perform. It depends on how encouraged these industries are to expand, how many jobs they create in the bargain, to what degree foreign funds are attracted and encouraged to invest in various industries, and how much consumption increases because of all these factors. The consumption sentiment is one of the most critical, because it dictates how well various sectors will perform. 
 
Real estate is just one of many major industries in India. A government focused on the country's overall economic revival must consider the needs of all its industries. This holds true even if real estate is an industry that, unlike other industries such as electronics and luxury apparel, addresses very visible deficits. Residential real estate addresses the deficit for housing in India, while consumption of commercial real estate is directly related to how many jobs will be created in a certain city.
 
Increase financial confidence and boost consumption

Given that overall consumption sentiment is key, the new government will primarily need to present a budget that increases Indians' financial confidence. To achieve this, it will have to introduce a more benevolent taxation regime. Specific to boosting the real estate sector, the government must formulate and present a policy which provides clear and attractive tax benefits to developers who are focused on affordable housing. At the same time, raising the income tax exemption limit for home loans from the current Rs 1.5 lakh to at least Rs 5 lakh would encourage Indians to buy more homes.

Such measures are very much within the purview of the upcoming budget, which must also ensure that it provides incentives to boost entrepreneurial spirit and generally help Indians to earn more, save more and invest more. It is axiomatic that the real estate industry, as well as various other industries, will see significant revival merely on the basis of such a rebooted climate of confidence.

Provide infrastructure status for housing

Real estate faces several hurdles other than flagging consumption sentiment that have harmed it immensely over the past few years of sectorial slow-down. Clearing all these hurdles in a single revamp of existing policies would be extremely challenging, if not impossible. However, one game-changing measure that new government can certainly undertake in the immediate future is to grant infrastructure status to the housing sector.

In the past, such a provision has proved to be a major turning point for the real estate sectors of many other countries, enabling them to significantly narrow their housing deficits. While such a measure would not fall within the ambit of budget announcement, it can and should be addressed in the ensuing parliamentary monsoon session.
 
So far, India has only provided infrastructure status to industries and companies involved in the development of ports, airports, highways, public transportation networks, etc. By granting the housing sector infrastructure status as well, the new government will ensure that housing developers become eligible for critical incentives and subsidies at the Central and State levels. It will also mean that institutional lending to the housing sector becomes more liberalized - banks will increase lending to housing developers, who will also be able to raise bonds to help generate funding for housing projects.

23.55 | 0 komentar | Read More

Google's Nest to buy Dropcam for USD 555 mn

Nest and Dropcam confirmed the acquisition in separate blog posts on Friday, but did not specify the price tag. Google declined to comment.

Google Inc's Nest Labs will buy home-monitoring camera startup Dropcam for about USD 555 million in cash, technology blog Re/code reported on Friday, taking another step deeper into consumers' homes.

Nest and Dropcam confirmed the acquisition in separate blog posts on Friday, but did not specify the price tag. Google declined to comment.

Also Read: Google to buy satellite company Skybox Imaging for $500m

Google is increasingly expanding into new markets, with efforts ranging from high-speed Internet access to advanced research on self-driving cars and robotics.

It bought Nest, which makes smart thermostat and smoke alarms, this year for USD 3.2 billion, the Internet firm's second-largest ever acquisition.

The deal was touted as a foray into the fast-growing "smart" home automation market, at a time consumer appliances and Internet services are merging. But it also raised concerns about the privacy implications for Google, which already collects rafts of data about users' online habits.

Dropcam, which lets users monitor homes and offices via its camera hardware and software, will adopt Nest's privacy policy after the acquisition, the latter company said in its blog post. That means data will not be shared with any other firm, including Google, without a user's permission, it said.

Dropcam's backers include Kleiner Perkins Caufield & Byers, Accel Partners and Menlo Ventures.

23.55 | 0 komentar | Read More

'Govt in process of framing separate policy for MSMEs'

To improve the condition of micro, small and medium enterprises, the government is working on simplifying processes to facilitate such entrepreneurs and a separate policy for this sector is on the anvil.

"If work is done properly, effectively and on priority basis in this sector, then we can see that a person with minimum income can get employment. He can feel self reliant," Union MSME Minister Kalraj Mishra told reporters here today. He said the MSME ministry is encouraging small entrepreneurs by which they can stand strongly.

"The facilities which entrepreneurs should get are not there like single window system. We are simplifying the process to facilitate entrepreneurs," he said.

The Minister said that till now MSME was governed by the industrial policy and does not have a policy of its own.

"We are in process of framing a separate policy for MSME sector," he said.

"Even people in rural areas can feel self-reliant financially, therefore a thought of "berozgaar se rozgaar tak (from unemployment to employment) has come and we will give a practical shape to it," he said.

The Minister said that skill-related training is already being imparted.

"What Prime Minister (Narendra Modi) said about removing poverty, this can be a very strong medium. It can also be a medium for what PM said about skill to every hand," he said.

However, he refused to specify the time frame in which the policy would be given a formal shape.

"But it will be much before then expected. The objective is to remove problems being faced by the entrepreneurs," he added.

He termed coordination between the state and the Centre important to promote the MSME sector and said that work is being done to bring an integrated system in place.

A survey is being conducted across the country and on the basis of its report lakh of people can be made self-employed in poor and backward areas, he added.

23.55 | 0 komentar | Read More

Rail fare hike: Tough job of new govt has just begun

R Jagannathan
Firstpost.com

Last night (20 June) one saw an unedifying spectacle on TV channels. After taking the bold decision of raising passenger fares by 14.2 percent and freight by 6.5 percent to fix the Indian Railways' weak finances, BJP party spokesmen were busy distancing themselves from it.

The decision was taken by the UPA, they bleated. We are only reluctantly implementing what they wanted to do. Railway Minister Sadananda Gowda had this pathetic line: "I was forced to implement the order of my predecessor. I am only withdrawing the withholding order."

The point is, no government can be "forced" to do something it does not want to do, especially if the decision is bound to be unpopular. If the Narendra Modi government wanted to avoid a passenger fare hike, it could have done so and claimed credit for it. But since it did not do so, it means it decided it had to implement the fare hike. So trying to pass the buck to the UPA is a self-defeating approach. Once you are in power, you have to take ownership of a decision, even if it is politically convenient and correct to blame the previous government for bringing us to a pretty pass. You have to take the political flak that comes your way and roll with the punches, but you cannot slink away.

Prime Minister Narendra Modi must follow up the bold decision on rail fares and freight by claiming authorship for it. He must own up the fare hike and the additional inflation to follow. Leaders cannot distance themselves from the consequences of their actions. In Goa last week, Modi had warned party workers about the hard decisions coming up. Having delivered on this promise, Modi must follow up and tell the people why this decision had to be taken, and why more bitter medicine may be coming their way in the short run. He can also tell them how the long run will be better. There will be difficult days before achche din.

The simple point is this: it was only because the UPA failed to take the tough decisions in time that the economy is up the creek today. The electorate understood that India needed someone decisive, and saw Modi as the man who could lead the country. Can Modi now pretend he is all about taking the easy decisions and not the ones he was elected to do?

The feisty, combative Modi we saw at the hustings was a great communicator. This was what brought him to power, as people saw him as a brave doer, someone who will do good things for the country. Having won the electoral battle, Modi cannot now lose the larger war of governance by letting the minions offer unconvincing explanations for what is going on.

The war to revive the economy is one Modi has to lead from the front, owning, explaining, and coaxing people to join in the fight all the time. It cannot be fought from behind the scenes. The biggest mistake India's political leadership has made since the economy was opened up in 1991 was to de-market reforms and try to pretend they were never in favour of change.

If reforms are a bad word in politics nearly a quarter century after we have all benefited from it, if reforms are forever going to be done only by stealth and subterfuge, we might as well have re-elected the UPA to blunder along, moaning and groaning and whining about it. What we expected from Modi was change and open leadership, confident in his actions and taking the people along in this fight.

Minimum government, maximum governance is not possible without getting the people to march along with you. You can have minimum government only with maximum political leadership. If Modi believes that the fight for reform and change can be fought behind closed doors, he is seriously mistaken. He has forgotten the lessons of his own victory in May.

Modi won the elections because he was out there in the battlefield, day in and day out, giving his opponents hell. A Modi in government cannot withdraw into a shell. Already, his political opponents are sniffing a comeback chance. If he wants to be the harbinger of change, he has to lead the change. He cannot shrink from this challenge.

With the announcement of the rail fare hike, the political battle will begin in earnest. One presumes that this bold decision will be followed by many others in the energy, labour and land acquisition areas, all of which will be politically tough to sell and pull off. If anyone can do it, it is Modi. But if even Modi can't do it, we might as well remain a banana republic that gets pushed around by the world and its own internal political mafia.

The people of India voted for Modi because they saw him giving 100 percent, when Manmohan Singh was wimpishly wringing his hands in impotence. In government, Modi can't be seen as anything less than 100 percent leader, however hard he may be working behind the scenes, putting in 18-hour days and giving his ministerial colleagues and bureaucratic staff sleepless nights.

The hard work in the PMO and ministries is vital, but a visible Modi is even more critical to pull off success in the economic challenges we face now. He must be seen, heard and be at the centre of the fight to revive growth and economic vitality. The war cannot be won without being in constant communication with the people.

Despite a poor performance as Prime Minister, Manmohan Singh will still be remembered for 1991 (even though Narasimha Rao must get greater credit for it). Modi will have no such luck. If he falters as PM, no one will remember him as a great Chief Minister of Gujarat. He has to be Maximum Prime Minister. It is all or nothing.

The writer is editor-in-chief, digital and publishing, Network18 Group

23.55 | 0 komentar | Read More

Managing parking issues with automated parking solutions

A Shankar
JLL India

India, the second most populated country in the world houses more than 40 million vehicles and is the only country which saw a growing car sales even during the recession and recorded the highest sales volume during 2009 and 2010. Since it has a strong domestic market, the growth is expected to be sustainable and increase over the next few years since India's car per capita ratio is currently among the lowest in the world's top 10 auto markets.

However infrastructure available for the vehicles like roads parking spaces have been a challenge in most the Indian cities. 

Indian cities face severe problem of congestion due to runway growth of personalized vehicles. The traffic management in the many cities is marked by introduction of a series of one-way traffic system. The one–way traffic system has, however, implications on pedestrian safety and fuel consumption. One-way traffic is generally desirable when there are complementary roads and the additional traveling distance is not more than 300m as per IRC. Hence whenever such systems are introduced, the interests of public transport modes and pedestrians are duly addressed. 

Demand for parking in the CBD areas of Indian cities is twice the supply. Acute shortage of parking supply is witnessed in commercial areas and indiscriminate parking impedes free flow of traffic and cause accidents. 

Automatic multi-storey car parks provide lower building cost per parking slot, as they typically require less building volume and less ground area than a conventional facility with the same capacity. However, the cost of the mechanical equipment within the building that is needed to transport cars internally needs to be added to the lower building cost to determine the total costs. Other costs are usually lower too, for example there is no need for an energy intensive ventilating system, since cars are not driven inside and human cashiers or security personnel may not be needed. 

Automated car parks rely on similar technology that is used for mechanical handling and document retrieval. The driver leaves the car in an entrance module. It is then transported to a parking slot by a robot trolley. For the driver, the process of parking is reduced to leaving the car inside an entrance module.

23.55 | 0 komentar | Read More

Review: DSP Blackrock small and mid cap fund

Jun 21, 2014, 05.14 PM IST | Source: Moneycontrol.com

Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.

Like this story, share it with millions of investors on M3

Review: DSP Blackrock small and mid cap fund

Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.

Nature: Equity oriented open ended

Inception: November 2006

Assets under Management: Rs 1148 crore at the end of May 2014

Fund Managers: Apoorva Shah and Vinit Sambre

Analysis:

• DSP Blackrock Small and Mid Cap Fund focuses on stocks that are not in the top 100 ones by market capitalisation so there is a broad range of options from which it can choose its investments. At the end of November 2012 finance was the top sector in the portfolio with a share of 11 per cent. Consumer non durables, banks, Pharma and construction were some of the other sectors with a significant share. Around 2.5 per cent of the portfolio was in cash and cash equivalents. Godrej Industries was the top individual stock with Eicher Motors, Pantaloon Retail, Tata Global beverages, Bombay Dyeing, EID Parry, Max India and ING Vysya Bank being some of the other leading holdings. The portfolio turnover ratio was 0.87 times. Around 47 per cent of the portfolio was in mid caps while 23 per cent in small caps and 22 per cent in micro caps.  The CNX Midcap index was the benchmark index for the fund and it was an outperformer over the one and three year time periods ended September 2012.
• Finance continued to be the leading sector in the portfolio at the end of April 2013 and now its share had gone up to 15 per cent. Consumer non durables, software, chemicals and Pharma were some of the other leading sectors. The mid cap exposure in the portfolio was up to 56 per cent while the  small and micro cap exposure each fell below 20 per cent. Godrej Industries was the top individual holding in the portfolio. Eicher Motors, HPCL, Glenmark Pharma, ING  Vysya, Tata Global Beverage,  CMC and Max India were some of the other leading holdings. The turnover ratio was steady at 0.85 times. The fund was an outperformer over the one and three year time periods ended March 2013.
• The end of November 2013 saw Pharma and software as the top sectors in the portfolio with a share of around 11 per cent each. Consumer non durables, banks and finance were the other areas with a significant share. The mid cap exposure in the portfolio remained around the 55 per cent mark while the micro cap one fell to 12 per cent.  The portfolio turnover ratio had climbed to 0.95 times. Tata Communications was the top individual holding with IPCA Labs, CMC, Persistent Systems, Arvind, ING Vysya Bank, Bayer Cropscience, Britannia and Eicher Motors some of the other significant ones. The fund was an underperformer over a one year period but an outperformer over the three year period ended September 2013.
• Banks was the top sector in the portfolio at the end of May 2014. The portfolio had undergone a change with industrial capital goods, textile products, software and Pharma being some of the other top sectors. Arvind was the top individual holding in the portfolio. Bharat Electronics, CMC, Federal bank, ING Vysya Bank, IPCA labs, SKS Microfinance and Bayer Cropscience were some of the other leading holdings. The portfolio turnover ratio had climbed to 1.3 times. Mid caps constituted 42 per cent of the portfolio while small caps were 21 per cent and micro caps around 18 per cent. The fund was an outperformer over the one and three year time periods ended March 2014.
• Investors looking for an exposure to small and mid cap funds can consider this as a part of their portfolio. It is suitable for slightly aggressive investors who are comfortable with a slightly higher amount of risk.

video of the day

Expect heavy FII interest in Indian midcap story: Ambit

23.55 | 0 komentar | Read More

Check out: Mumbai's new luxury housing trends

Om Ahuja
Jones Lang LaSalle India 

In marked contrast to other cities, the dynamics of luxury housing in Mumbai have changed dramatically over the last decade. Delhi, Kolkata and Chennai continue to have location-specific premiums, which have risen consistently. Boat Club Road in Chennai, Jor Baug in Delhi and Ballygunge in Kolkata continue as the most premium areas of these cities, while Cuffe Parade, Marine Drive, Pedder Road and other premium locations in Mumbai have witnessed a slowdown in demand and price appreciation.

In Mumbai, with the CBD shifting to BKC for all practical purposes, even the most attractive parts of the city have not witnessed increased action in terms of sales, relative appreciation and leasing over the last 5-7 years.

With the CBD and even the Diamond Market moving to Bandra Kurla Complex (BKC), there has been a dramatic shift of preferences for luxury housing in Mumbai. South Mumbai residents now show increasing preference for moving to complexes in Mahalaxmi and Jacob Circle, giving up the standalone buildings they have been occupying since security and parking have become a challenge.

The shift towards Worli reflects that a desire to be close to the Sea Link for faster access to BKC is another important market trend. The Bandra-Khar-Santacruz belt and specifically BKC have become the best options for corporate employees who wish to live closer to their workplaces. Diamond traders are also shifting to these areas and to Worli for the same reason.

The Media, Pharma, FMCG and SME sectors are the key residential property drivers in the Andheri-Malad-Goregaon-Powai belt. With HUL, P&G, Glenmark, Sun Pharma and many other larger names shifting their headquarters to the Andheri-Powai belt, we have seen a sudden increase in demand for premium and marquee properties in this market. The wish to reside closer to the airports, highways and Metro stations are the key drivers for this preference. 

Denizens of the media world (i.e. television and film artist) prefer living in the Andheri-Malad-Goregaon belt, as these areas are closer to the major studios. With the sudden increase of channels and programs over the last 5-7 years, there is now an unprecedented demand for good premium and marquee properties in this belt.

South Mumbai properties that have perennial demand:

	Building Name	Location	Reason	Indicative Price Points in the Re-sale space
1	Samudra Mahal	Worli	Sea Facing/Profile of Occupants	Starting from Rs.1 Lac per square feet
2	Kalpataru Horizon	Worli	Sea Facing/Profile of Occupants	Starting from Rs. 70,000 per square feet
3	Godrej Bayview	Worli	Sea Facing/Profile of Occupants	Starting from Rs.75,000 per square feet
4	Raheja Vivarea	Mahalaxmi	Race Course /Sea Facing / Profile of Occupants	Starting from Rs.60,000 per square feet
5	Jolly Maker Chambers (Cluster)	Cuffe Parade	Sea Facing / Profile of Occupants	Starting from Rs.65,000 per square feet
6	Signature Island	BKC	Only Luxury Project inside G Block of BKC & Profile of Occupants	Starting from Rs.55,000 per square feet
7	Oberoi Woods	Lokhandwala	Preferred by Media world	Starting from Rs.25,000 per square feet

 

Mumbai's new alternate luxury locations: 

A family living in South Mumbai that wants to upgrade from a 2 BHK to 3 BHK or 4 BHK usually operates with a limited additional budget after selling its existing home. After a prolonged stint in South Mumbai, very few locations provide comparable appeal – or, indeed, comparable options.

Such families will consider options in Mahalaxmi, Parel, Lower Parel and Worli, and tend to be open to locations such as Mazgaon and Byculla as secondary options. The additional investment for exploring these alternatives is usually between Rs. 2-4 crore. Reputed developers like K Raheja Corp., Kalpataru and Runwal have luxury projects in these areas and are actively catering to the demand coming from erstwhile residents of South Mumbai.

South Mumbai residents who cannot stretch their budget to accommodate their new space requirement are looking at Wadala as alternate option. With the arrival of the Eastern Freeway and the Monorail, Wadala has in fact become a hot destination for South Mumbai residents whose children study in Cathedral, G D Somani Memorial and other reputed schools. Currently, Dosti Group's projects are clear leaders in this location, thanks to the superior social infrastructure they provide.

In the CBD area, the BKC belt has surprised most market pundits over the last decade. With the robust development in this prime location of Mumbai, many families from South Mumbai have been able to move into luxury projects there with just marginal budget additions. In the process, they have gained the advantages of additional bedrooms as well as significantly enhanced luxury living experience. The BKC luxury residential market is being serviced by developers like Sunteck, Kalpataru and Hubtown.

'Affordable Luxury' locations: 

In a city like Mumbai, the concepts of luxury and affordability tend to be mutually exclusive concepts. Given the ever-escalating shortage of land in the city, coupled with the skyrocketing cost of construction, property price increases and multiple new taxes introduced in the last budget have conspired to push up the consumer cost of buying homes. 

The new trend 'affordable luxury' does address the traditional clientele for luxury homes in Mumbai, but applies to local residents of suburban and far-suburban areas who are seeking to upgrade their lifestyles within their current localities. Developers who cater to the demand for affordable luxury are constrained upon to ensure that their offerings meet the actual requirements as well as affordability of these buyers, as well as the interest of investors who are seeking to capitalize on the trend of 'localized upgradation'.

Currently most suburbs have multiple choices in this category. A few areas that rank high on factors such as overall living standards and growth are: 

• Airoli
• Ghodbunder Road in Thane
• Goregaon
• Malad
• Kanjurmarg 
• Vikhroli
• Bhandup 

Reputed developers that are successfully catering to this segment include Dosti Realty, Romell Group, Godrej, Omkar, Soham Group and Kalpataru.

23.55 | 0 komentar | Read More

TOP TEN RAINIEST CITIES IN INDIA ON FRIDAY

According to the latest weather update by Skymet Meteorology Division in India, good Monsoon showers will continue over most parts of Northeast and East India. Konkan, Goa and Karnataka along the west coast of peninsular India will also continue to receive good amounts of rain. As predicted, Southwest Monsoon has covered east Uttar Pradesh and is likely to cover central parts of the state in next 24 hours.

Here are the top ten rainiest cities in India on Friday, 20th June-

Cities State Rainfall (in millimetres) Cherrapunji Meghalaya 232 Gorakhpur  Uttar Pradesh 84.4 Darjeeling West Bengal 84.1 Karwar Karnataka 70.2 Bokaro Jharkhand 67 Agumbe Karnataka 68.4 Honnavar Karnataka 59.3 Burdwan West Bengal 59 Coochbehar West Bengal 51 Barpeta Assam 50  

By: Skymetweather.com

23.55 | 0 komentar | Read More