Thursday, 1 September 2022

10 Interesting Ways To Use The Corners Of Your House

 The corners of the walls are one of the most neglected areas at home when it comes to styling or decorating the interiors. Even if you think of decorating the area, you end up placing a plant or a large lamp. However, there are several other ways of decorating the corners in an interesting way.


Here we have share some innovative ideas to give those corners a new and fresh look:


Create A Library

Have a huge stack of books and planning to stock it in one place? Use a corner. Create a hanging bookshelf or an L-shaped one to display your collection of books in this mini library.


Tuck A Bed Under The Staircase

If you have duplex apartment with a staircase indoors, make use of the corner area underneath by placing a bed. The size of the bed will depend on the size of the area available. You can even use this bed as your cozy personal zone to sit with a cup of coffee or a book.


Space For Cabinets In The Kitchen

The corners in the kitchen are usually left unused. You could use these corners to place customised cabinets and add storage to your modular kitchen.


Place A Tiny Closet

If you have enough space in one of the corners of your home, create a tiny closet to keep your things. You can easily do it by installing a closet rod between the two corner walls.


Create A Mini Office

If you need to create a mini office at your home and have not been able to because you think there isn't enough space, think again! You have the corners. Use one of them in your room to create a mini office by installing an L-shaped workstation. You can also get a cabinet to store your files and other office stationery.


Your Own Mini Bar

Transform the corner of your living area into a mini bar. The corner could be very useful to keep your favourite drinks in a wine cabinet.


Create A Sitting Area

If you want to add more sitting space in your room but lack space for additional furniture, use the corners. You can either get an L-shaped sofa or keep two chairs to use the area as a sitting space.


Get Wall Shelves

A traditional way of doing up the corners is installing wall shelves. These can be used to place books, decorative and other artefacts, and will instantly brighten up the corner.


Hang A Hammock Swing

Another interesting way of creating a magic with those corners is by hanging a hammock swing. It will not only help you make an appropriate use of the space but will also add the style quotient to the décor of your room.


Create A Photo Wall

You don't need a huge wall to get your favourite photo wall at home. Use the corner as your gallery by hanging your best pictures or art in different frame sizes. You can also use it as your family wall by placing images of your family tree.

Saturday, 27 August 2022

Why Is Property Valuation Important?

 Property surveys may not be legally required but in order to do a due dilligence, they are a must. Most surveyors will do a property valuation for income tax purposes, capital tax calculations, wealth tax, rent and depreciation, property transfer, bank guarantees, auction, stamp duty, acquisition by the authorities, will and testament, home loans, division of property, etc.


When should you go for property surveys/valuation?

There is no law that states you should get your property evaluated by a professional before you sell/purchase it. This is more of a precautionary measure, to be safe than sorry in future. Customers often use professional help for a property evaluation, to sort out income tax-related matters. The same is also done before renting, bank guarantees, auctioning, stamp duty payment, acquisition by the authorities, preparing will and testament, availing of home loans, division of property, etc.


Who is a valuer?

A valuer is someone with a professional degree and a licence from the Institution of Valuers. These law-recognised valuers get licences from the state body before they start their practice. While a property brokers helps you understand the pulse of the market; those facts could be questioned. An approved valuer does everything on paper, citing facts. This document helps you deal with banks, solicitors and investors, etc.


How does property valuation help?

What is the value of the land or building? Are there any improvements that can help you increase the value of your property? These are some of the aspects that valuers help you decide. You would also get a certificate, validating the worth of your property (and other assets) admissible in a court of law.


What do I have to pay for a property valuation?

There is no standard pricing for valuations. Depending upon the exact location, size, kind of property as well as the kind of certificate/document you require (short-form or long- form), the pricing may vary. Do note that usually, valuation services are tax deductible. However, even if it isn’t, the cost is far too less when compared to what you are getting in the form of an established fair price of the property.


Is property valuation a smart move?

In case you are a seller, a legal piece of document certifying the true worth of the property would be of great help. The buyer could in no way accuse you of overvaluation, and this also ends the scope for bargaining. Your property valuer could also tell you ways in which you could add value to your existing property. A tax depreciation schedule from a valuer can also help you minimise your tax burden. From a buyer’s perspective, valuations help them understand the risk profile of a said property. They can make a sound investment on the basis of such information.


Friday, 5 August 2022

Busting Myths About Co-Working Spaces

 Co-working spaces grew rapidly over the years as small and large organisations joined the bandwagon. However, many enterprises have not yet warmed up to the idea of operating from the novel office space as they have many misconceptions. It is time to disentangle facts from myth.


The emergence of co-working spaces has been viewed as the go-to option for many businesses and corporations, offering more affordable work choices with good amenities. Yet, there are some myths that are often encountered with the modern office spaces that need to be busted for lending a new perspective on your way of work in the present and the future.


Co-working spaces are excessively noisy

Many people have formed an opinion that these offices are noisy and block concentration. Notwithstanding, co-working spaces have explicitly defined rules and regulations, and most members observe basic work etiquette. At the same time, there are private spaces available for getting work done as well.


They are only for a particular set of people

Many still believe that co-working spaces are only for freelancers, self-employed professionals and emerging start-ups. However, nothing could be farther from the truth. The space is not only ideal for the newly-formed enterprises and pro; even companies such as KPMG, Microsoft, Spotify, Zomato and others are taking up co-working spaces for their employees.


Co-working is a costly proposition

This is another myth about these new-age office spaces. In fact, people choose co-working spaces for their affordability and flexible pricing models. Companies can start with a smaller number of seats and save costs while eventually upgrading to more space with future expansion.


The spaces are not professional enough

Many people feel that co-working offices are not professional enough for holding meetings for their business partners and clients. Nonetheless, the modern office space come with sleek meeting rooms and conference facilities that can be booked in advance. They also come with the cafeteria or pantry services, reception and waiting areas and more.


There is zero privacy in a co-working space

Co-working spaces also have their own nooks and corners along with socially distanced desks at times. They also come with private meeting and conference rooms that you may book anytime. Hence, the lack of privacy is nothing but a myth.


Co-working spaces are only for short-term needs

These office spaces cater to customer needs not just for the short-term, but also for longer durations. It all depends on the tenant and his or her requirements.

So, these are some of the biggest myths that need to be busted about co-working spaces.

Thursday, 21 July 2022

7 Features That Define A Luxury Home

 The definition of a dream house will be different for different people. What makes a dream home lavish and luxurious are its features - be it interiors, facilities, or amenities. If these features remain the same, then what makes a luxury house stand out?


Nowadays, many luxury apartments in Mumbai are made with exclusive features that make your dream home peculiar. While speaking about luxury flats in Mumbai, it offers lavish duplex homes that are precisely designed with exclusive details and features. Apart from lavish amenities and vast open spaces, they take care of the indoor facilities thoughtfully.

7 features that define a luxury home, making them an exceptional property are as follows:


1. Home Decor

Lavish interiors inspired by international architectures, famous monuments, and trending decor styles together make the luxury homes distinct. The art nooks, rounded corners, crown moldings, and archways installed at the right places can give your luxury house a novel touch.


2. Security

Many luxury apartments in Mumbai have in-built security features that are a must. These security features are what separates luxury homes from normal ones. In order to secure your house from unwanted attention and burglary actions, the homes come with smart locks, CCTV cameras, safety alarms for fire, floods, or break-ins. Apart from home security systems, these luxury apartments also have strong security at the entrance of the property.


3. Home Plans

They say, with luxury comes vast space. Hence luxury flats in Mumbai feature duplex homes with spacious rooms, open-viewing areas, balcony lawns, and more. All these home plans are carefully designed and crafted giving the entire home interior a modern look.


4. High End Kitchens

A spacious kitchen with top-class appliances is all a chef wants. Luxury flats with high-end kitchens feature double ovens, heating drawers, island sink, washers, and more. All these features are not easily seen in a typical kitchen.


5. Surreal View from Property

Nothing feels better than coming home from work to a peaceful environment. Luxury apartments in Mumbai are designed with open areas and huge balconies that provide a surreal view of the surroundings. You can enjoy gazing at the skyline or breathe in some fresh air while you calm your mind as you watch the sea.


6. Smart Homes Features

Many luxury homes are crafted with smart features such as a security system accessible via the app, motion sensor lighting, timer-set lights, curtains that operate on sunlight, smart thermostat, and more. These features vary from one luxury house to another, making it unique in true sense.


7. Lavish Property Amenities

Luxury homes aim to provide you a charmed and resort life. Hence, many luxury apartments come with lavish amenities. Some of these include a gym, infinity pool, mini theatres, sitting plazas, walking tracks, safe play area for kids, and more.


So, Are you ready to enter into your own Luxury Home in Thane?


Mahavir Square : Luxury Homes in Thane - What makes Mahavir Square a perfect luxury home?

Right at the foothills in a perfect setting of Yeoor Hills, MAHAVIR SQUARE is a residential heaven spread across 1.5 acres of unique development offering 1,2 & 3 BHK Residences in Thane (W). The marvelous structure of Ground +24 Story with Ample Parking is locked by greens on two sides and facing the spectacular Sanjay Gandhi National Park, with almost no noise and a natural breeze flowing from the mountain.

Combined with state-of-the-art amenities like entertainment zones to health clubs to outdoor sports arena, modern features and exceptional lifestyle, MAHAVIR SQUARE is a place where life blends with the symphony of nature in perfect harmony.


Thursday, 14 July 2022

Top 5 Mistakes One Should Avoid While Investing in Commercial Real Estate in Mumbai

 Any kind of investment requires that you do proper research. Likewise, when investing in real estate in Mumbai you need to be thorough with your research. Especially when it comes to looking out for commercial properties, there are some common mistakes that you can make while deciding which property to buy. More often than not, the reason for such mistakes is the lack of research and due diligence.


Here are some common mistakes, which you need to avoid while investing in commercial real estate in Mumbai:


1. Not Knowing the Right Property Value

Whether it is residential or commercial, know the current value of the property is of utmost importance before you go ahead with the purchase. One way to assess the value of commercial property in Mumbai is to compare the property you want to invest in with other properties. You can contact real estate brokers and ask them for details regarding the value of the property.


2. Not Selecting the Right Location for Your Commercial Space

The location of a commercial property is what drives the demand for it. This, in turn, helps the value and the rate of return for that property. Hence, as an investor avoid falling for flashy properties at substandard locations. This leads to poor capital growth of your property which means you have to incur losses.


3. Not Making Use of an Investment Strategy While Buying the Commercial Plot

When you are thinking of investing in Mumbai’s commercial real estate, you need to have a proper investment strategy. This strategy needs to have investment boundaries, which you can only set if you know what exactly your needs are. If there is no set boundary, then there might be a chance of overspending.


4. Not Opting for A Reputed Real Estate Developer

Commercial office spaces or workspaces need to be up-to-date with all the amenities and also need to be on good locations with state of the art architecture. As today’s workspaces are becoming more creative, you need to find real estate developers in India who are renowned for making such commercial office spaces. A reputed real estate developer is a safe choice when you want to invest in commercial real estate given that you do a proper background check.


5. Not Doing the Necessary Checks

As mentioned above, thorough research is the first thing you need to do before buying any property. Look for proper credentials, all the documents, delivery of projects, zoning, permits, resale value etc. These are a few parameters that you can look at.


Many new real estate projects in Mumbai are now coming with swanky commercial properties. If you are planning to invest, then basic research and proper due diligence can help you choose a good commercial property.



Thursday, 7 July 2022

Indian real estate market transparency among most improved globally: Report

 Owing to the series of policy decisions including the implementation of the Real Estate (Regulation & Development) Act, 2016 and digitization of land registries and market data has helped Indian real estate market’s transparency level move upwards.


The transparency level in the county’s real estate sector is now amongst the top ten most improved markets globally and is part of the semi-transparent category at 36th spot out of 94 countries, showed JLL’s 2022 Global Real Estate Transparency Index (GRETI).

India’s improvement in transparency score between 2020 and 2022--from 2.82 to 2.73--is higher than some of the highly transparent markets, due to digitization and data availability for transaction processes in addition to overall market fundamentals.

The improvement in transparency is reinforced by increased institutional investment and the growing numbers of real estate investment trusts (REITs) helping to broaden market data and bring more professionalization to the sector to complement regulatory initiatives like the Model Tenancy Act.

“The move towards greater transparency in India will intensify investor interest and bolster occupier confidence. As a result, we will see more capital deployment into the country as it demonstrates consistent efforts to make accurate data available, enforce legal protections for property ownership, and enhance the regulatory environment to facilitate the transactions,” said Radha Dhir, CEO and Country Head, India, JLL.

Regulatory changes in the Indian real estate sectors like RERA and digitization in all transaction processes have led to a more sanitized and transparent data availability, helping the country make robust progress in the transparency in a sector that was known for its opaque ways of functioning.

“Sustainability continues to be the key focus for the world going ahead. We have seen India take great strides in sustainability in the past years, however, there is a need for a more concerted and congruent thought process and action plan to bring sustainability into the mainstream,” Dhir added.

To be able to move to the coveted transparent list, from the present semi-transparent list, the country needs to improve sustainability tracking. Sustainability has not been one of the major areas for change over the last couple of years for India, but investors and occupiers are driving this change.

Several initiatives are underway at either the national or local level including the National Guidelines on Responsible Business Conduct from 2021, with reporting for the largest 1,000 companies by market cap to be compulsory from 2022-23, and local plans such as Mumbai's Climate Action Plan, released in 2022, which is expected to establish a system to conduct regular energy performance benchmarking of buildings by 2025, and mandate a building energy management system in all new buildings.

Making green certifications/ratings and adherence to the Energy Conservation Building Code (ECBC) a mandate would give a greater push to sustainability. The regulatory impetus for mandatory tracking and reporting is still lacking but should get a major push following India’s call for Net Zero by 2070.

India’s score improvement was the highest on the parameter of improvement in transaction process. Given the regulatory initiatives, and better and deeper data availability, access to asset information has improved in a significant way. With reforms also creating the push for better professional standards for property agents and an environment for weeding out illicit finance through stringent anti-money laundering regulations, the transaction process in India has become more transparent and meaningful.

India’s improvement in this parameter was just behind Vietnam and Malaysia among other APAC countries.

“India’s investment performance parameter has held steady with a conducive investment environment in place and healthy opportunities for investors. The last two years have also been marked by upheaval and a reset in investor strategies. Some countries have found increased favour from investors and have moved up the rankings. India has kept its ranking steady, though it has improved its composite score in this parameter,” said Samantak Das, Chief Economist and Head of Research, REIS, India JLL.

Diversification remains a core theme for many investors in the Asia Pacific. Institutional capital, such as that controlled by asset managers, pension funds, and sovereign wealth funds, is active in alternative real estate sectors in nearly two-thirds of the markets tracked. That means expectations for transparency across niche property types like lab space, data centers, or student housing have grown.

India has made rapid strides in the availability of high-frequency data across its big cities and core asset classes through the intervention of tech platforms and regulatory reforms. It needs to replicate for other cities and alternative sectors with the work already underway through a mix of both private sector participation and government push towards digitization of land and property records.

As market transparency improves through access to data, better corporate governance practices, and more publicly listed REITs creating more publicly available datasets, the sustainability agenda needs a greater push for India to rapidly ascend to the transparent tier.

The road from regulations to putting them into practice--across financial regulations, land-use planning, taxation, anti-money laundering and eminent domain--will be necessary to increase transparency levels and match heightened expectations.


Monday, 4 July 2022

Selecting Office Space for Your Small Business

 Moving into a commercial office space can be an exciting time for a small business owner.


It signals a coming of age for a business that has outlived the usefulness of a home office. More space is needed to house new employees and more equipment, and to conduct meetings, conferences, and product demonstrations. A commercial office gives a small business owner the feeling of taking the business to its next level of growth—with continued growth expected and eagerly anticipated.


How Much Office Space Should You Lease?

When considering how much commercial space to lease, add some extra space for growth to the total square footage of the space you are currently occupying. Determine how many employees you expect to be housing by the end of the next year. Determine what furnishings and office equipment you will need to accommodate them.

Establish whether you will need a reception area. Decide on the image you want to project through the layout and design of your space. Determine your need for conference and/or demonstration rooms.

Try to project two or three years out from the start of the lease—will the new space accommodate your anticipated growth?


Where Should You Locate Your Office?

Where you locate your business is very important. If you locate in an upscale suburban neighborhood or a fashionable area of downtown, you may attract consumers with plenty of disposable cash. But you will also face high rents or leasing costs, which would devour precious cash. Less upscale areas may offer tax incentives or spaces with attractive lease options.

However, these areas may have high crime or vandalism rates. How about the commute—how far is it from your home to your new office space? All of these considerations need to be carefully examined when deciding where to locate your business.


Parking

You should determine what both your employee and customer parking needs will be—does the space you are considering offer enough parking for your needs and the needs of surrounding businesses? Is the parking underground or on-street, metered parking? Is handicapped parking available?


Tenants

Check out the other tenants in the building or office complex you will be leasing in. Find out how long they have occupied the building. Ask if they are on good terms with the landlord. Find out whether their experiences as tenants have been largely satisfactory. Inquire about insurance premiums, building security, and cleaning services for the building.


Handicap Access

Check to see whether the building you are considering leasing in meets handicap access regulations, including appropriate bathroom facilities. Make sure your office space has been designed so that physically challenged employees can easily move around and are afforded an opportunity to be fully productive.

If you are doing any renovation work on your space at all, you may be required to make the entrances and bathrooms handicapped accessible even though you do not have handicapped employees and even though you are only leasing, not buying the space.


Public Transportation

If on-street or off-street parking is limited or unavailable, locating your business in close proximity to public transportation takes on added significance. I can’t tell you how incredibly advantageous it can be in attracting employees if you are not just accessible by public transportation, but really easily accessible! Public transportation accessibility can even be used as an advertising tool to attract customers as well.


Expansion

If you are attracted to a particular office space but envision remodeling that space to suit your needs—building partitions for work cubicles or removing walls to open up a reception area—make sure the landlord has no objections. Get permission in writing. See if you can negotiate a reduction in the lease payments in exchange for doing the remodeling work yourself.


Utilities

Find out what the typical costs are for heating, electricity, and air conditioning in an office space similar to the one you are considering within the same building. Ask either the landlord or other building occupants for copies of the last six months of utility bills. Ask about required new account deposits from each of the utility companies you will be using. If you have a prior billing history with any of the utility companies, you may not need to submit a deposit.


Floor Plans

You have three basic choices in office floor plans: division by partition, open office, or individual, closed rooms. A combination of any of these floor plans is also a possibility.

Partitions: Open offices divided by partitions were once in vogue at many large corporations. The advantage to this space configuration is that its flexible nature offers the chance for change, while affording a moderate level of visual and aural privacy. No one is looking directly at another employee and conversations can be conducted without fear of being overheard.

The disadvantages are that employees can feel isolated in their tiny “cube” and it doesn’t foster a sense of community. Unless it is a very high-end partition system, it probably doesn’t look attractive, and it may seem dated. There is a wide range of partition systems available. They can be extremely elaborate and complex or inexpensive and simple.

Open Floor Plan: Another approach to organizing space is the open design. This design is supposed to create a strong feeling of community among workers, but it suffers the drawbacks of noise and visual confusion. Currently, it is seen as hip. However, although I have worked in an open office space and it worked out fine, I usually find that when the space is truly full and every seat around me is taken, it is too much—too many people too close. Also, I have read about other people who work in open office space and have developed an unwritten rule to communicate verbally with one another as little as possible.

So, my bottom line feeling about open space is it could work out great or it could be terrible! The key is that you really need lots of space to make it work, enough so that people don’t feel they are on top of one another, and also the space should look extra interesting and funky.

Closed Rooms: Closed rooms can be a very expensive office design option. This option doesn’t offer the flexibility of either the partitioned or the open space plans. It does offer the ultimate in privacy, however. If you go for private offices, I suggest you at least encourage employees to leave their doors open whenever possible to encourage interaction and the exchange of ideas.

If you go for this plan, be sure to get the landlord’s permission to complete any construction work required to meet your needs.

A Hybrid Approach: Some combination of the partitioned, open, and closed room floor plans is another approach. You might have, for example, completely open areas for administrative or support staff, partitioned cubicles for mid-level employees, and closed areas for senior staff.


How to Bring Functionality into Your Office Design

Functionality is an important consideration when thinking about office design. The first functional aspect that you need to address is noise reduction. Your employees need to be able to hear clearly to effectively conduct phone conversations. You need to place fax machines, copiers, and other loud equipment out of the way and out of earshot.

You also need to create nice passageways that allow employees ease of movement from one area of the office to another. These pathways should also provide efficient traffic patterns.

Don’t forget to group people together according to their functional need to interface with each other.


Consider the Customer Perspective in Office Design

A customer’s impression of your office space as he or she first walks in the door is critical. The same holds true for employees, and especially for new hires.

Consider creating a waiting area at your entranceway. It can be very simple yet still welcoming, comfortable, and professional. All you really need is a couple of nice chairs and a table.

A meeting room may also be important in your business. This room should be as impressive as possible even if you can’t afford to go all out designing and furnishing other areas of your office space. Set up a nice room near the reception area with a conference table and nice chairs. This will give any customer a good feeling about your organization.


Assigning Space

Assigning space to personnel can be an incredible political football, even among employees who don’t typically get riled. Seasoned employees have been known to fight tooth and nail for that window spot or the biggest office space. This is an issue of prestige, of course, and many employees link space allotment to the direction of their career paths.

The best approach is to make the assignments yourself and have that be the end of the story. Make it clear that you have given the assignments careful thought, and this is simply the plan you have devised and will be sticking to. Do try to give each person adequate space in which to carry out his or her job. Anticipate in advance the objections any given individual may have. Cut complainers off at the pass. If you don’t assign space decisively, people are going to grab whatever space they can or they are going to whine and complain. Either way, it will be a headache for you.

Also, decide in advance to what extent employees will be allowed to decorate their space, paint the walls, or hang photographs or posters. In short, set guidelines for personalizing office space. You don’t want to find yourself in the uncomfortable position of requesting the removal of any decorative elements after having previously allowed them.


Getting Started with Office Design

Start by making a quick, rough sketch of your office design layout and concept with pencil and paper. If you are really feeling ambitious, get one of the commercially available design programs. Then you might want to flesh out your scheme by using space layout software or creating a more detailed sketch.

Use a scale for the sketch—x inches equals x square feet—or do your layout on a gridded chart. Before you move in and start knocking down walls or dragging desks about, take out the tape measure and mark out walls, corridors, partitions, and desks with masking tape. Bring in a few key employees to discuss the layout. This helps gets your team’s buy-in, and their input on a final layout alleviates the possibility of major space wars on move-in day.


Takeaways You Can Use

  • Carefully create a list of the many important considerations in selecting your office.
  • After calculating how much space you need, add some extra space for growth.
  • Consider an open or partially open floor plan to foster a sense of community.