Monthly Archives: November 2023

Independent House For Rent

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There are a few neighborhoods in the area to choose from if you are searching for an independent house close to Noida. Here are some well-liked choices: 

  • Greater Noida: Adjacent to Noida, Greater Noida provides a variety of separate homes in different areas. It is renowned for having wide roads and a well-planned infrastructure. 
  • Ghaziabad: Ghaziabad is a nearby city of Noida that has many residential areas with separate homes. Popular locations include Vaishali, Raj Nagar Extension, and Indirapuram. 
  • Greater Noida West, formerly known as Noida Extension, is a quickly growing neighborhood with various reasonably priced housing options, including independent houses. It has excellent access to Noida and the rest of the Delhi-NCR region. 
  • Yamuna Expressway: Yamuna Expressway has separate homes and villas if you want to live in a slightly more remote area. Together with excellent access to Noida and Greater Noida, it offers a tranquil and green setting. 

Consider your budget, security, ease of access to amenities, and transportation options when looking for an independent house. 

Renting an independent house in Noida entails taking several things into account to guarantee a convenient and hassle-free living environment. Here are a few crucial things to think about: 

Location

Assess the independent house’s location. Consider factors such as how close your place of employment is to hospitals, schools, shopping malls, and public transportation. Evaluate the neighborhood’s convenience, amenities, and safety. 

Rental Budget

Establish your rental budget and ensure your independent house’s rent stays within it. Include extra costs like the security deposit, utility bills, maintenance fees, and all other relevant fees. It is critical to understand your financial obligations and capabilities. 

Size and Layout

Make sure the independent house satisfies your needs by evaluating its size and layout. Consider the quantity of living areas, bathrooms, bedrooms, and overall floor plan. Consider your needs, both present and future- such as room for family members or particular furniture needs. 

State of the Residence 

Pay close attention to the property before agreeing to the rental conditions. Keep an eye out for any wear and tear, damages, and the need for any necessary repairs or electrical or plumbing work. Talk about any issues you may have with the landlord or property manager to make sure they get fixed before you move in. 

Terms and Tenure of Lease

Examine the terms and conditions, length of the rental period, options for renewal, and notice of termination in the lease agreement. Recognize your nights and responsibilities as a tenant, and address any questions or concerns you may have with the property manager or landlord.  

Safety and Security 

Assess the security protocols for the standalone residence. Look for features like functional locks, safe entry points, and all extra security systems. Consider the neighborhood’s safety and, if appropriate, find out if gated communities or security guards are available. 

Amenities 

Evaluate the area’s capacity to provide basic infrastructure and amenities. It covers having access to plenty of clean water, power, the internet, and modes of transportation. Look for local resources crucial to your way of life, such as parks, schools, hospitals, shopping malls, and recreational facilities. 

Upkeep and Repairs

You must know who is accountable for what, along with the landlord or property manager. Understand who is responsible for routine maintenance and emergency fixes and how to report them. Talk about how repairs typically occur quickly. 

Documentation and Rental Agreement 

Verify that all documents, paperwork, and rental agreements are in order. Check the legitimacy of the landlord and get formal contact with all the information you need, including the rent amount, payment schedule, security deposit, and any other conditions that may exist. All relevant paperwork ought to remain in a file for future use. 

Tenant Rights and Legal Obligations 

Become knowledgeable about your legal obligations and rights by local laws and regulations. Recognize your obligations about the upkeep of the property, paying the rent, and following rules or guidelines that might appear in the rental agreement. 

Affidavit Based Land Conversion

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In a move that will immediately impact land transactions, Bengaluru-based Revenue Minister R. Ashoka announced yesterday that the state government will amend the current legislation to permit the conversion of agricultural plots for non-agricultural use within a week. 

Ashoka stated that the new program aims to stop corrupt practices by government officers at different levels and to avoid requiring landowners to endure needless hassles. According to him, it currently takes six to eight months for people who bought land to convert. 

The Minister stated that although the conversion fee in rural areas will remain unchanged, residents in cities and semi-urban areas will be required to pay two or three times as much. The Deputy Commissioners’ offices, which handle all types of land conversion to form layouts and industrial areas, will implement a single-window system. 

The Revenue Department now follows protocol when sending the DC’s land conversion application to the planning authority. The file then goes to the Tahsildar, the Revenue Inspector, the Village Accountant, and all land acquisition officers. 

By the time the land gets converted, it takes around six to eight months and needs multiple reports, Ashoka said. He said some constraints would apply to those seeking to convert the land. For instance, the land for which conversion is necessary should not be encroached on or reserved for the welfare of Scheduled Castes or Scheduled Tribes. 

The applicant must submit an affidavit and pay the required cost of converting the land. An agricultural landowner may use the affidavit-based conversion to convert their land to any non-agricultural use by submitting a self-declaration by the authorized master plan for that specific area. 

The conversion is impossible if a specific area exists in the master plan as a green zone. If the master plan has not yet been approved for the area, it will be based on self-declaration, given that the non-agricultural use has been approved by the relevant authorities by the Karnataka Town and Country Planning Act. According to Ashoka, the conversion will be canceled and the applicant will forfeit the application fee if false affidavits are submitted or if the affidavit has any gaps or ambiguities. 

Investment in Commercial Property

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Office buildings, shopping malls, warehouses, and industrial parks are just a few examples of the various property types that fall under the umbrella of commercial real estate. Even though residential real estate is what many people see, commercial real estate makes up a sizable portion of the market. 

You can make money by investing in commercial real estate, but you must understand the various types of properties and what to consider for each one. 

This article will examine market trends and investment opportunities for the real estate sector. We will also discuss the benefits of investing in commercial real estate. 

Recent Trends and Developments in Indian Commercial Real Estate

The Indian commercial real estate market has been the most impacted by the COVID-19 outbreak. The sector was already struggling because of the economic downturn, and the pandemic has only worsened things. The number of individuals looking for office and storage space had significantly decreased due to the lockdown. However, there are also some promising developments. 

India’s commercial real estate market has seen steady growth in recent years, driven by the country’s robust economic expansion, urbanization, rising disposable incomes, and an increasing number of expanding businesses. Due to this, commercial property prices have increased in India’s largest cities, including Mumbai, Delhi, and Bangalore. 

The government uses green building technologies to construct more energy-efficient and sustainable buildings. Environmentally friendly construction techniques will also be used by builders to reduce operating costs and draw mindful tenants. 

Once the government authorizes foreigners to make direct real estate investments, the demand for space in commercial buildings will rise. For investors and property owners, FDI may result in larger investments, more capital investments, and higher property values. 

Benefits of Indian Commercial Real Estate 

The country’s strong economy is helping India’s commercial real estate market grow and attract foreign investors. A serious concern is the need for more modern infrastructure, which could make it challenging to travel the country and conduct business. 

Generally speaking, commercial real estate in India has more benefits than drawbacks. 

  • Strong economic growth: The young population, expanding middle class, and reforms that make the nation more business-friendly add to the booming Indian economy. Strong demand for commercial real estate is a result of this growth. 
  • Cost-effective: Commercial property costs are increasing due to the high demand. They’re still reasonably priced, especially when compared to markets like Hong Kong or London. 
  • Favorable demographics: A key factor in India’s economic growth is the country’s sizable young population. The country’s middle class is also expanding, which increases demand for goods and services and expands business opportunities. 
  • Infrastructure development: India is progressing, even though there are still many issues with it. The Indian government is making significant investments in infrastructure growth, which may enhance the appeal of commercial real estate in some areas. 

Indian commercial real estate’s drawbacks 

India’s economy has grown at one of the fastest rates in the last ten years, and the same can be said for the country’s real estate market. Although commercial real estate in India has grown significantly, there are still some drawbacks that investors need to be aware of. 

  • Lack of transparency: India’s real estate market requires greater openness. Due to reliable data and information, it can be difficult for investors to make informed decisions. 
  • Costly: Commercial building construction and maintenance are expensive in India. Businesses struggle to establish operations in India as a result. 
  • Regulatory ambiguities: The regulatory climate in India is murky. Businesses find it challenging to long-term plan their operations as a result. 
  • Political unrest: India is a nation with a volatile political situation. The political unrest may make it challenging for businesses to run efficiently. 
  • Economic turbulence: Commercial real estate in India is subject to market fluctuations and can be affected by economic downturns, just like any other investment. 
  • Limited Liquidity: Due to the market’s lower liquidity than a few other markets, it can prove hard to sell commercial real estate in India quickly.

What justifies commercial real estate investment? 

There are advantages and disadvantages to owning both residential and commercial property. Depending on your financial objectives and how you intend to invest your money, one may be better for you than the other. 

Any inverter can profit and benefit from purchasing commercial real estate as an investment. Better returns and a diversified portfolio will be to your advantage. It will increase your passive income during this time. 

Commercial real estate can provide a variety of benefits that can help you meet your financial objectives, whether you are a novice or a seasoned investor. 

Income tax exemptions and deductions are available for commercial real estate investing. On the annual value (i.e., the annual rent collected on the property), investors can deduct a flat 30% of their expenses. 

Additionally, you may deduct up to INR 2 lakhs from your taxable income for interest paid via EMI under Section 24 of the Income Tax Act of 1962. 

An investment vehicle known as a REIT (Real Estate Investment Trust) enables people to invest in a diverse portfolio of commercial real estate properties. Investments in Commercial real estate REITs can be profitable, but buying and managing individual properties requires more money or managerial expertise. 

Commercial Property for Sale in Chennai

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Are you trying to find a commercial property in Chennai? Then you should read this blog! Commercial real estate property in Chennai is one of the most sought-after investments. There is a high demand for office and retail space due to the country’s development and growth in the IT and corporate sectors. 

Although the real estate market remained unaffected by the pandemic, demand for commercial real estate fell slightly in 2020 due to businesses closing their offices and switching to remote working arrangements. Despite a decline in the market, the Commercial real estate industry is on the right track to quick recovery as real estate investors resume their interest. 

Commercial spaces are gaining in demand as offices gradually open up, making them one of the safest and most secure investments. The time is correct to invest in commercial property in Chennai. You must consider several factors to locate the best commercial property for sale in Chennai. 

Learn more about finding the best commercial property in Chennai by reading on. 

The commercial real estate industry, predicted to contribute roughly 13% of India’s GDP by 2025, is essential to the country’s economy. One of the most developed metropolises in the nation, Chennai has a sizable commercial market. When it comes to investing in commercial real estate in Chennai, there are many options available. 

Finding and investing in the best commercial property in Chennai can be challenging. Commercial real estate involves high costs, so even if the investment is safe, it will still require careful planning on the part of the investor. 

How to find Chennai’s Best Commercial Property 

Location

Location is a crucial factor to consider when investing in commercial property in Chennai. When you invest in a premier commercial area, commercial real estate offers the best returns. Compared to investing in an already settled region, investing in a developing area offers higher returns because the former has more room for expansion. 

Select the Best Builder 

If you decide to purchase a commercial property in Chennai, make sure to pick one that was constructed by a reputable builder with extensive experience in the field. It is crucial to consider the builder’s reputation. The quality and returns will be better the higher the reputation. 

Financial Planning 

Purchasing commercial real estate for sale in Chennai will require a significant investment. You must, therefore, properly plan your finances. Check out if you would be better off taking out a loan or paying cash for a commercial property. If you are considering getting a loan, talk to loan experts before approaching banks that provide loans at reasonable interest rates. 

Be mindful of the relevant legal implications. 

Purchasing a commercial property in Chennai involves several legal considerations, such as insurance, planning permissions, safety and fire codes, licenses, and other accessibility. You must pay stamp duty because you are purchasing a commercial property in Chennai. These problems are fixable by talking about them with a lawyer who can help you navigate these legal nuances. 

Recognize the market 

Market research is one of the first steps you should take when looking for commercial property in Chennai. Even though the real estate market is generally stable during uncertain times, you must understand the market’s history. Observe market trends, assess the potential for future growth, and consider the property’s location and condition. With the help of this information, you can choose the ideal commercial property in Chennai. 

Think about your investment options. 

You can invest in a variety of commercial properties. Commercial real estate provides a wide range of options for you, including warehouses, offices, industrial, and other commercial spaces in addition to wholesale and retail stores. Based on the property’s location, intended use, and anticipated returns, choose the best commercial property in Chennai.  

When a Plot is Sold for Rs 18700

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Using the sale price of Rs. 18,700, we can determine the cost price of the plot and the price at which it must be sold to make 15%.

Given: 15% loss on sale of Rs. 18,700 

The formula that follows is to determine the cost price: Cost Price = Selling Price/ (1- Loss%) 

Changing the Value : 

Cost Price = 18,700 / (0.1 – 0.15) 

Cost Price = 18,700 divided by 0.85 

Cost Price = 22,000 Rupees. 

Now, we can use the following equation to determine the price at which the land has to be sold to make a 15% profit: Selling Price = Cost Price + (Profit% * Cost Price) 

Changing the values: 

The selling price equals 22,000 plus 0.15 times 22,000.

Selling Price: Rs. 22,000 + Rs. 3,300 

Selling Price: 25,300 Rupees 

It is necessary to sell the plot for Rs. 25,300 to make a 15% profit. 

Certainly! Here are some additional points related to the topic: 

  • Cost Price: The cost price is the original purchase price of a good or asset. In this instance, it refers to the money used to buy the plot. 
  • A good or asset is purchased and sold at a cost known as the selling price. It stands in for the proceeds from the sale of the plot. 
  • Loss: Loss occurs when the selling price of an item is less than the cost price. It represents a negative financial outcome for the seller. 
  • Profit: Profit, on the other hand, is the financial gain obtained when the selling price is higher than the cost price. It represents a positive outcome for the seller. 
  • Percentage Loss or Gain: A percentage loss or gain is the loss or profit expressed as a percentage of the cost price. It aids in determining the relative change when compared to the purchased price. 

How to Calculate the Sale Price for a Particular Loss

When a loss percentage is given, the selling price can be calculated using the formula below: 

Cost price – (loss%* cost price) = selling price.

You can determine the selling price using this formula, which takes both the cost price and the loss percentage. 

Calculating Selling Price for a Desired Profit: To calculate the selling price needed to achieve a desired percentage profit, you can use the formula: 

Selling Price = Cost Price + ( profit % * Cost Price) 

This formula considers the cost price and the profit percentage, enabling you to determine the selling price required to achieve the desired profit. 

Studio Apartment for Rent Bangalore

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Corporate employees today often choose dazzling career paths in multinational industries that require them to relocate across the nation after a set amount of time. They must thus become used to living in rental homes, which in various megacities offer hassle-free amenities. 

It is impossible to purchase a home in a city because corporate workers like to move across the country to pursue their careers. Renting an apartment in a smart city is the best option to experience a homey atmosphere. 

Because they prefer to seize career opportunities anywhere in the world, successful working people today are accustomed to the nuclear family-based lifestyle. People constantly modify their personal lives to fit the changing preferences of their professional targets. The best choice for a nuclear family is to rent a studio apartment in Bangalore. 

Why are rental studios the best places for working professionals to live? 

The single-room urban apartment design offers the best ability to access the kitchen, living area, and bedroom from one location. You will have total privacy, functionality, and a durable door or divider in the bathroom of the newest urban studio apartment in Bangalore. Working migrants always favor renting affordable apartments to control their monthly costs behind their lifestyles. Further, it meets the criteria by providing all necessary amenities in a single comfortable space. 

Benefits of Renting a Studio Apartment in Bangalore 

  • No- Hassle cleaning 

The ease of cleaning the entire apartment is the studio’s main advantage. You can maintain excellent hygiene while residing in a studio apartment by employing cutting-edge cleaning equipment. Unlike traditional apartments with multiple bedrooms, studio apartments have smaller holes, making them tidy overall. Therefore, hiring a housemaid is only necessary if you are willing to appreciate the reduced physical effort required to maintain a neat and clean studio apartment. 

  • Furniture investment is less.

If you choose a studio apartment with a bedroom, living area, kitchenette, and bathroom, you only need to purchase a few pieces of furniture. While residing in a studio apartment, your nuclear family’s functional needs include a single sofa set, multifunctional furniture such as sofa-cum-bed, or a center table with storage. Additionally, even though you must relocate to a different city, you can spend your money on items other than the numerous large furniture pieces.  

  • Zero Possibilities to Amass Zunk 

The desire to fill empty spaces is an odd psychological phenomenon. Therefore, even though you only have a small room for each function in a furnished studio apartment in Bangalore, you will keep the space tidy to prevent objects from overlapping. 

  • Top Locations 

The cost-effective studio apartment designs consistently draw single-working professionals who prefer minimal privacy, moderate luxuries, and hassle-free amenities within their tight budgets. Realtors always create these distinctive and in-demand rental properties in the most desirable areas of any smart city, where the high volume of corporate professionals demand the most modern, space-efficient rental apartments. As a result, working migrants in Bangalore can easily rent a 1 RK Studio apartment. 

  • Simplest Way to Save Money 

You need to start saving money as soon as you start your career so that you can make wise investments in the future. Therefore, you will not need to spend cash on the furniture if you rent a furnished studio apartment in Bangalore. Without a maid, you can easily handle the minimal maintenance requirements yourself, and the affordability factors enable you to set aside money from your income for furniture and car purchases or to cover the cost of a down payment. In contrast, you later purchase a home of your own. So, a studio apartment is perfect for reducing monthly living costs. To ensure their financial goals, single working professionals should always choose to live in luxury studio apartments in Bangalore. 

Essential aspects to think about before selecting luxury studio apartments in Bangalore

  1. View the Rental Package for a Reasonable Price 

Location can affect how much a residential unit will cost to rent. Additionally, the cost of renting a studio apartment in Bangalore can increase or decrease depending on the availability of the newest amenities. Finding a suitable apartment in Bangalore will be simple if you set a maximum budget limit. 

  1. Excellent Infrastructure Access

When selecting a luxury studio apartment in Bangalore, you must pick a posh area to take advantage of the proximity of supermarkets, healthcare facilities, retail stores, etc. You should also check the area’s connectivity options if you are a student or a working professional to ensure you get to your schools or workplaces on time. 

  1. Top-Notch Amenities 

All the essential amenities ideal for studio apartments must matter when choosing a suitable furnished studio apartment in Bangalore. The best option would be to consider contemporary appliances, furniture, and kitchenware for small spaces. Additionally, you should carefully assess whether your studio apartment is open enough to let natural light and air into the living area. 

  1. How can studio apartment rental costs be justified? 

In India, the total configuration, specific locations, accessibility to transportation, developer’s brand, proximity to commercial hubs, and infrastructure of social amenities all affect the rental cost of studio apartments. 

Investment in Real Estate in India

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A wise investment can transform our lives and give us the assets we require to realize our aspirations. Today, most of us have various investments in our investment portfolios, including stocks, gold, bonds, government programs, etc. However, real estate has been one of the most overlooked and underrated investments in recent years. Given the enormous economic growth in most Indian cities, the average income has increased, giving us more incentives to invest in the future. Real estate may be your ideal choice if you want to invest. 

The importance of real estate 

Over the years, kingdoms have fought over land, using every means possible to win that priceless possession. The demand for land has endured despite the lack of kingdoms, with everyone vying for a piece of the pie. Prime real estate can be a wise choice to invest in. It offers far above traditional investment options because its demand and value never decline. Everyone aspires to own a home because it can lead to financial success and potential fulfillment. Due to the lack of available land in cities nationwide, investing in even a tiny dwelling can yield benefits, such as rental income or the ability to resell it for a profit. 

Factors to Take into Account Before Investing in Real Estate

An investor with no prior real estate experience could become seduced by the promise of profits and make a loss on a piece of the property. Before parting with one’s hard-earned money for real estate investment, a novice should consider the following factors. 

  • Keep Calm- Most legitimate property transactions take a few days to complete, making buying a property time-consuming. Although many real estate companies promise to finish paperwork within a day, patience can help you get a good deal. Jumping the gun may result in you paying more for the property or buying one that exceeds your expectations. Additionally, selling can delay projects, testing your patience if your investment does not yield any returns for a while. 
  • Research the Property: In today’s market, it’s vital to research before leaving to search for a property. Choosing the right real estate can be challenging with so many projects in the works, as sellers are frequently known for charming potential buyers. The amenities provided, the history of the building company, the materials used, and the surrounding area can all affect the returns on your investment. If you do not investigate thoroughly before making a purchase, you might regret it later and lose money. 
  • Check the Papers: Considering how easily a buyer unfamiliar with the real estate market can fall into buying a property with phony papers, the papers of a property are the most essential considerations to make. Purchasing a property with cloudy titles can result in protracted legal disputes or court cases, effectively making the investment worthless. Legal professionals should verify the authenticity of all property papers because failing to do so could result in you buying a property with its title in dispute. People frequently sell homes for less than market value, which should raise a red flag as such homes may be the subject of litigation or have internal problems with the owner. 
  • Verify Market Rates: Most local governments offer a guideline value to assist investors in determining an asset’s rate. By keeping track of neighborhood trends with the help of the market rate, you can avoid paying more for a property than it is worth. You can extrapolate the returns you may expect in the future by studying market rates and figuring out developments. 
  • Talk to your neighbors: While most of us overlook this advice, talking to your neighbors is a good idea. By gaining firsthand knowledge of a community’s conditions, you can identify any issues or regions where a purchase might suffer. Speaking with them can also help you learn about current market prices, the past of the area, and the potential for future growth. One can get a clear picture of the real estate they intend to buy because neighbors are not salespeople trying to sell you the property. 
  • Calculate Your Finances: It is essential to determine your financial situation to ensure that you accomplish specific goals. Although getting a bank loan is straightforward, it is crucial to consider the interest rate and other costs. 
  • Remain Positive: It is critical to maintain optimism while carrying out a real estate transaction because there will inevitably be times when things do not go as planned. When dealing with sellers of homes, keeping your composure can help you gain more advantages. 
  • In the Indian real estate market, negotiating is essential because everyone is looking for a deal that will increase their wealth. Understanding the art of negotiation can help you get additional freebies like parking spots, furniture, etc. 
  • Real estate investments are typically safer than other investments, but that does not mean they are risk-free. Take this into consideration. In India, legal obstacles and property disputes are prevalent, so one should verify that the property they are interested in is free of obstacles and legal issues. 

Given the shifting dynamics of our times, owning a property may be the wisest course of action. A beginner can choose the right course for investing in real estate by considering these guidelines. 

Modern Bungalow House Design

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The bungalows are compact homes with open layouts, sizable front porches, and windows. The first bungalow house was in Bengal during the colonial period. Bungalow comes from “Bangla,” a Hindustani word that means “belonging to Bengal.” The bungalows are typically compact, easy to maintain, and provide their occupants with a high degree of privacy. They come in a variety of patterns and looks. Are you interested in learning more about bungalow home plans? 

Designs for Bungalow Houses in Various Styles 

Compact bungalow-style homes come in a variety of designs and architectural styles. They fall into one of seven categories based on their distinctive designs and architectural styles. 

  • The one-story California bungalow house design has an open floor plan, a large porch, and a slopping roof. Instead of using bricks to construct this kind of house, builders use stucco and wood. 
  • Tudor-style bungalow home plans: This design combines elements of medieval architecture with a typical modern bungalow floor plan. It features more complex design elements, like intricate doorways, elaborate chimneys, wall cladding, and steeply pitched roofs. It also has long, narrow windows. 
  • It has a Spanish-style roof and a globe design, typical of a mission bungalow. It has smooth stucco or plastic siding, wide, sagging eaves, and exposed rafters. 
  • Chicago bungalow with a basement and 1.5 stories above it. Brick construction. Stairs lead up to the porch from the street. This design has a substantial basement and is rectangular. 
  • It has piers supporting the porch roof, flat chimneys, contrasting wall materials, etc. In the prairie bungalow house style. Horizontal woodwork and ceiling beams are frequently present inside. 
  • The Foursquare Bungalow House design resembles the Prairie style in many ways. It is typically one and a half stories tall, with a low-pitched gable roof, and has a simple, modest structure. 
  • Bungalows in the craftsman style appeared first in colonial India. Both the exterior and interior are decorated with elaborate woodwork. 

Design of a Small Bungalow 

Anywhere in the world can replicate this bungalow house design. The bungalow’s distinctively simple layout that combines glass and shutters makes it suitable for all climates. The bungalow design with a garden and shutters is perfect for hot and muggy climates, while the glasses can make it energy-efficient in colder climates.

The house offers the perfect living space for a small family with two bedrooms, living rooms, one dining room, two bathrooms, and a store. This bungalow design is to charm you at first glance, with lawns on either side and an elevated entrance. 

This straightforward bungalow house design offers the ideal escape from the bustle of city life because it sits amidst the lush greenery. This plan is achievable anywhere in the nation for a low cost and with little effort with basic yet sturdy materials, a sloping roof, and an elevated entrance. 

Design of a Big Bungalow Home 

Large families can live in this lovely bungalow home design. This bungalow is a haven of comfort with three bedrooms, two living rooms, two study rooms, two dining halls, two bathrooms, one kitchen, and one storage room. This design is ideal for hot, humid climates because it features extensive gardens, a terrace, and an elevated entrance. 

Four bedrooms, two dining rooms, three living rooms, two guest rooms, one kitchen, and two bathrooms can fit inside this horizontally spread bungalow. It has an extensive terrace and an elevated entrance. Its white color only adds to its charm. It is perfect for India’s hot climate regions due to the limited use of glass. 

Affordable Bungalow House Plans

This bungalow is simple to construct and affordable. It is made of wood and has a sloping roof. The bungalow is made of wood and can be built anywhere in India, especially in hilly terrain. It is lightweight because of this. 

Construction costs go down when wood is used. This bungalow is perfect for a small family because it has two bedrooms, two living rooms, one dining room, one kitchen, and a bathroom. It is one of the most economically viable bungalow designs constructed anywhere in India, complete with a small wooden terrace or balcony outside.

This affordable bungalow is perfect for hot, humid climates and small families. The bungalow house’s simple exterior design contributes to a significant decrease in construction costs. The raw materials are affordable and easily accessible. The small bungalow’s wooden windows and doors make it ideal for hot climates. The simple yet elegant appearance of the house is a result of the red and white color scheme. 

Design of a Bungalow with a Terrace 

Anywhere in India can imitate this fashion. It is perfect for hot, humid areas because it has side stairs, wooden doors, and tiny glass windows. The small terrace in front is ideal for relaxing in the heat due to its light color, which adds to its elegance. The distinctive design of this look is praised. It is replicable everywhere in the world. If necessary, a large family could reside in this bungalow due to the extensive terrace and lush gardens. 

Bungalow House in 3D

Anywhere in India could easily replicate this design. With terraces, lawns, gardens, driveways, a pool, and parking spaces, this contemporary bungalow design seeks to fit nearly all comforts into a constrained space. It has a lovely balcony that is reachable via a staircase from the inside and the lawn. 

The bungalow’s light exterior walls, sparse use of glass, and flat roof make it the perfect choice for hot, dry climates. 

This design combines modernity and simplicity. The bungalow provides all today’s conveniences in a serene environment with a slopping roof, glass doors, sliding windows, a terrace, lawns, and a garden. The bungalow has two bedrooms, two living rooms, two kitchens, one dining area, and twelve bathrooms. 

GST on Renting of Residential Property

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The 47th GST Council meeting recommended that GST be made applicable in cases where the residential property has been rented out to a registered person under the GST starting on July 18, 2022, there has been a lot of discussion about the applicability of GST on renting residential property. Let us first clarify the status of the GST Law about the GST on renting residential property on or before July 17, 2022. 

Refer to Notification No. 12/2017 from June 28, 2017. The GST Act exempted several services, including those provided by renting a residential property for habitation. Thus, regardless of the person’s status (registered or unregistered), GST did not apply to rent a residential property. 

Let us also consider what has changed as a result of the 47th GST Council meeting’s recommendation, effective as of July 18, 2022: Following Central Tax (Rate) Notification No. 04/2022 dated July 2022, CIBIC has revoked the exemption granted to the registered person. 

By RCM, CBIC has announced the following via Central Tax (Rate) Notification No. 05/2022 dated 13/07/2022: 

Category of Supply Services Supplier of Service Recipient of Service 
Rental of a residential property to a registered person as a form of service Every Person Any Registered Individual

The PIB has now made it clear that a residential unit is only taxable for rental purposes when it goes to a business entity:

  • Rent is only taxed when a business entity leases a residence. 
  • GST is not applied when a private individual rents it for personal use. 
  • No GST, even if the business’s owner or partner rents the home for personal use. 

Let us now assess the various scenarios to determine the effect of the GST’s applicability on renting residential property starting on July 18th, 2022: 

  • Registered under GST: If the tenant and the landlord are listed under GST, the tenant will be liable for paying GST due to the reverse charge mechanism. The tenant is thus eligible to submit an ITC claim. 
  • Renting property from a landlord not registered under GST: In this case, liability arises for the tenant under the reverse charge mechanism. 
  • When an unregistered tenant leases property from a legal landlord with the government, the tenant is not liable for paying the tax because the landlord stands with the law. 12/2017 Notification, dated 29 June 2017. 
  • Unregistered Landlord and Tenant: No GST liability exists because both parties are still subject to the GST. 12/2017 Notification, dated 28 June 2017. 

There might also be some other situations: 

  • Renting a residential property for employees is done by Company/LLP/Firm/AOP/BOI: In this scenario, GST will be paid via RCM, and ITC can be reclaimed. 
  • Rental of a home by a registered composition dealer: In this scenario, GST will be paid under RCM, but under the rules that apply to composition dealers, GST paid under RCM cannot be claimed as ITC. 
  • An individual registered for GST as a proprietorship business decides to rent a residential property for himself. In this situation, GST must be paid under RCM, and since it is a blocked credit under the terms of the GST Act, it cannot be claimed as an ITC. However, according to PIB’s clarification on Twitter, no GST is applicable. 

Commercial Shops for Sale in Pune

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In recent years, Pune has steadily developed into a center for the IT industry. Numerous investors from around the world are interested in Pune’s properties. The city is now a lucrative substitute for Mumbai’s pricey market. In Pune, commercial property stands to rise by about 15%.

The demand for properties for sale in Pune has increased due to the IT, startup, manufacturing, and automobile industries. More industries also mean an increased workforce. As a result, there is a growing demand for residential properties in Pune and the need for office space leases to purchase. Are you thinking about making a commercial real estate investment? If so, Pune should be on your radar. Pune is quickly emerging as a top location for commercial property investments because of its advantageous location, flourishing business environment, and pleasant climate. We will look at the benefits of buying business shops in Pune here.

What are the top 5 arguments for purchasing a Commercial Shop in Pune? 

Development of Buildings 

With the building of highways and flyovers, Pune’s infrastructure has grown significantly in recent years, making transportation within the city much more convenient. The ongoing metro rail project will enhance connectivity. Due to this positive development, Pune is now a desirable place to invest in commercial real estate. 

The technology center for the region: 

Pune, known as the “Oxford of the East,” is quickly becoming a center for technology companies thanks to its numerous prestigious educational institutions. Major companies like IBM, TCS, Wipro, and Infosys have opened offices in Pune because of its appeal. There is now more demand for commercial properties in the city. 

Profitable business opportunities: 

Pune is a thriving center for many industries besides being a well-known hub for IT firms, including the automotive, manufacturing, and pharmaceutical sectors. Pune has become a desirable location for business investments thanks to its diversity of business climate.  Thanks to its diversity of business climate. Pune is a compelling location for businesses looking for expansion opportunities due to its large population and resulting expansive consumer market. 

Unusual weather: 

Pune has pleasant weather all year, making it an appealing choice for tourists and business travelers. The city experiences mild winters and summers, making it a change from the severe weather in other parts of the nation. Pune is a sought-after location for businesses looking to open offices and staff seeking quality of life because of the pleasant climate. 

Advantages of Commercial Shop in Pune 

The value of commercial properties rising: 

Due to the potential for property value to increase over time, purchasing a commercial shop in Pune may be a wise long-term investment. Commercial property will rise in value as Pune develops and grows as a city. Pune, which has seen significant growth in the commercial real estate sector, is one of the top ten emerging markets in the world, according to a report by JLL India. As a result, investing in a commercial shop in Pune can result in several long-term advantages. 

Rental and Lease Options

Purchasing a commercial shop in Pune also offers a variety of rent and lease options due to the city’s diverse business environment. A wide variety of businesses, from emerging startups to well-established multinational corporations, can be found in Pune, which has led to a high demand for commercial real estate. Due to this demand, property owners have a lucrative chance to rent out their commercial properties to tenants and create a steady income source. 

Potential for new companies 

There are many chances for new businesses to establish themselves in Pune because the city is a thriving business hub. Purchasing a commercial shop in Pune can give a company a physical location where to operate, increasing its sense of legitimacy and stability. Additionally, owning a commercial shop can be more affordable than renting or leasing a property for a business to establish a presence in a prime area. 

Consider your options when opening a business in Pune.

Business Facility 

Business centers are a highly sought-after option for those looking to buy a commercial shop in Pune. Usually multi-story structures, these centers offer an array of commercial spaces, including large and small retail spaces. Meeting rooms, conference facilities, and communal reception areas are typical amenities found in business centers. They provide the best option for companies looking for a ready-made option because everything, from the infrastructure to maintenance, is taken care of.  

Malls 

In Pune, buying a commercial shop in a mall is a common choice. Malls provide a range of commercial spaces, from little kiosks to big department stores. Malls also draw a lot of foot traffic, which makes them the perfect place for retail businesses. Due to their desirable location and further amenities, malls may be more expensive than other commercial options. 

Residence with retail space

Residential buildings with commercial spaces are a fantastic investment for people looking to open a shop in Pune. These multi-story structures typically have commercial spaces on the ground floor, making them ideal for eateries, gas stations, and grocery stores that cater to residents. Also, building residents may turn into clients; these buildings have a ready-made clientele. 

Shops and Commercial Establishments Act

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All states in India have enacted the Shop and Establishment Act, which regulates most businesses in India. The Act aims to govern the payment of wages, the number of hours worked, leave, holidays, and other work conditions for those employed in retail and commercial establishments. We examine the primary components of the Shop and Establishment Act in this blog. 

The Indian Shop and Establishment Act

The Shop and Establishment Act governs locations where any trade, business, or profession operates. The Department of Labor oversees it. In addition to commercial establishments, the act also covers societies, charitable trusts, printing facilities, for-profit educational institutions, and locations where banking, insurance, stock, or share brokerage. The working hours, employee rest breaks, opening and closing times, closed days, national and religious holidays, overtime work, guidelines for hiring children, annual leave, maternity leave, sick leave, and other types of leave are all governed by this act.  

Shop & Establishment Act-Regulated Locations

In India, the state may vary how the Shop and Establishment Act works from one state to the next. The Shop & Establishments Act of each state, however, is what covers all stores and other commercial establishments there, according to the Act. Shops can be an office, a storeroom, a warehouse, or a location where customers receive service or where products are for sale, whether retail or wholesale. “Establishments” refers to stores, businesses, lodging facilities, dining establishments, theaters, and other public entertainment venues. According to the act, establishments may also include other establishments defined in an official notification in the  gazette. The Factories Act of 1948 regulates factories exempt from the Shops & Establishments Act’s coverage. 

The Shop and Establishment Act’s Regulations 

The Shop and Establishment Act oversees various facets of operating a shop or other commercial establishments. The Shop and Establishment Act regulates several significant domains, such as 

  • Working hours.
  • Rest and mealtime breaks 
  • The prohibition of hiring children.
  • Employment of women or young people
  • Hours of operation and closing 
  • Days Off 
  • Weekly Off 
  • Paid vacation days
  • Time and circumstances surrounding wage payments 
  • Payroll deductions 
  • Leave procedures 
  • Dismissal 
  • Cleanliness
  • Luminous and fresh air 
  • Protection from fire measures
  • Accidents
  • Record keeping

Retail and Establishment Act Permit 

Any shop or other commercial establishment that opens for business must apply a Shop and Establishment Act License to the Chief Inspector within the required timeframe. The license application must contain the name of the employer, the establishment’s address, its name, its classification, the number of employees, and any other relevant details. Upon applying, the Chief Inspector will review it, and the occupier will receive a registration certificate. The act requires that registration certificates be continuously renewed and prominently displayed at stores and other commercial establishments. 

Within 15 days of closing, an occupier of a store or other establishment must give the Chief Inspector written notice of the closure. The Chief Inspector can cancel the shop or business establishment’s registration upon receipt of the closure request.