Wednesday, November 27, 2019

Free home decor apps for the amateur and home owners

With an abundance of information on our palms, we need not go looking for anything. This is the age of DIY (Do it yourself). Nearly everything can be done and recreated at home, including your home itself. There are millions of design ideas readily available on the internet. We explore the best free home decor apps helping you virtually construct your living space before actually investing on it. Here’s a list of our favorite free apps because the best things in life are free.

  • Pinterest

Available on iOS and Android

Pinterest is perhaps the most popular app today to browse through any kind of design idea. You can choose from millions of boards and pins of professionals and amateurs alike. Beautifully addictive this app is perfect for the ones seeking inspiration for your next home improvement plan, however big or small your budget may be.

  • Houzz

Available on iOS and Android

Houzz is one of the best free interiors, home decor and home solutions app today. Apart from having a great collection of ideas and photo library, this app covers interiors and home decor in its length and breadth. You can not only choose ideas, but products, DIY and consult experts. This is a great free app to have on your smart-phones to get a range of home improvement ideas.

  • iHandy Level

Available on iOS and Android

As the name suggest this app is an extremely handy level checker for your wall art, furniture, shelves and anything you can think of. This is a must have home solutions app.

  • Snapshop Showroom

Available on iOS

Snapshop Showroom is a great app that helps you visualize how your furniture looks in your set up using augmented reality. Just snap a picture of the space you wish to redecorate and choose from a wide range of furniture and upholstery options. You can place it , rotate etc. and see if it deems fit. It also offers an option to buy your furniture from popular brands like IKEA.

  • Photo Measures Lite

Available on iOS and Android

This has happened to all of us at some point of time, when we head to a store and forget the measurements and angles. Consider using Photo Measures Lite. Just snap a picture of the space and mark the desired measurements and angles. Easy and extremely helpful!

This is a guest post by Sulabha who is passionate in writing blogs and articles on Home d├ęcor, mobiles and Real Estate. Sulabha has written several blogs on home design, latest trends in industry of real estate market, latest demands on apartments in Hyderabad, commercial properties, land or plots.

Wednesday, November 20, 2019

Joint Venture agreement and registration process between a land owner and the real estate developer in India.

Author: Sachin Gupta | Find me on Twitter

In one of our earlier post, we covered the topic of joint venture agreement between landowner and the real estate developer. Keeping in mind the interest shown by audience in that article and the number of emails that we received about a sample joint venture agreement, we have decided to write another post covering sample agreement and registration process between a land owner and the real estate developer.

An owner of a piece of land (an individual or a company) can enter into an agreement with a developer to construct residential or commercial premises on land owned by the former, with the developer getting a right to sell the whole or part of the building to be built. The consideration payable to the owner in this case may be in the form of a lump sum (to be paid upfront or in installments) or alternatively in the form of a share in the property to be built or a combination of payment plus part of the property to be built.

Find below the sample joint venture agreement between a land owner and the real estate developer.

Source: National Housing Bank

Have any Questions?

Wednesday, November 13, 2019

What makes residential property rates go up & down???

Author: Sachin Gupta | Find me on Twitter

Recently one of my best pal visited one of the zillions property agent/dealer in Delhi NCR region, inquiring about the residential properties in Gurgaon and Greater Noida. He was looking to buy the residential property from an investment perspective. Now, just like any common man with black or white money (none of my business) in his pocket, he threw a plethora of questions on the poor property dealer. What is the current price in this region, that region, and that region?...what was the price last year? Is the property rights true or not?...what do you think of residential property appreciation?....what makes residential property go up & down?...and many such simple but make no mistake important questions.

Now, let me explain you why i called the property dealer "poor" because most of them are in the business not by choice but by 'no choice'. There is a saying these days "In India, whoever is out of job is either a Neta or a property dealer". However, they seem to be good at facilitating things and in the process makes a good commission if deal comes through. Now, asking these simple yet important questions to these property dealers is not going to satisfy many of the common people just like my friend.

So, what makes residential property prices go up & down? Lets Break It Down (L BID) to smaller elements. We all would agree that Demand and Supply are the two smaller elements of movement in property prices.

Now, what affects Demand? L BID again and we get 5 core smaller elements:

  • Economic base (Nature of employment in the region under consideration)
  • Income assessment of the people living in that region
  • Population Growth
  • Interest rate trends
  • Property tax rates

Just to illustrate, one would have noticed that certain regions are dominated by particular industry (IT in Bangalore) and income levels of people in IT industry are higher compared to say manufacturing industry. What do we understand from this?? I guess, you guessed it right, if population growth and interest rate trends are favorable then residential property rates would appreciate much faster in IT dominated region than in manufacturing region.

Now, what affects Supply? L BID again and we get 3 core smaller elements:

  • Land availability
  • Factors of production such as labor, capital(money), materials
  • Environmental restrictions, building codes, other regulations

Just to illustrate, one would have noticed that in certain regions huge amount of land is available such as outskirts of major metro cities (Gurgaon, Noida, Faridabad around Delhi). Since there is shortage of usable land in Delhi, the property prices tends to move up because for a limited amount of land thousands of people are running and each one has the money to outclass the other. In-fact, within a city say Delhi, in certain areas such as GK, because of shortage of usable land and other appealing facilities such as retail, educational, recreational, etc. the prices tend to move up compared to other areas within Delhi.

Finally, having understood the Demand & Supply elements, the current market equilibrium is done in order to understand the current property rates and why they are moving up or down.

So folks, whenever in doubt regarding the property prices or related things, L BID the issue and don't throw these questions on poor chap (property dealer).

Have any Questions?

Wednesday, November 6, 2019

Commercial Office Space in India - Leasing Vs. Owning analysis

Author: Sachin Gupta | Find me on Twitter
This post covers the topic of Commercial Office Space in India and why businesses choose to lease office space than owning a piece of commercial real estate!

Businesses use real estate as part of business operations along with manpower, machinery, and other resources to produce desired output. Even though the primary business of these corporations is not real estate investment, they have to make many decisions regarding the use of real estate because real estate is typically an integral part of the firm’s operations. For example, real estate is used for office space, warehouse, manufacturing, retail, and so on. Vast majority of real estate used by business firms is leased and not owned because of following reasons:
  1. Space requirements are less than the quantity of space that they would have to purchase in order to satisfy their needs in a desired location. Even if they lease the remaining space to other business firms, still leasing would be preferred than owning mainly because
    • Large capital to purchase the desired space
    • A purchase would put the business firm in real estate business which can take away the focus from firm’s core activities.
  2. Even if business firm manages to occupy all the space that is available with the purchase, the firm will still prefer to lease
    • Owning would reduce operating flexibility: if the business firm desires to move its operations from the purchased location, then space selling or leasing to other firms will constraint the movement or slow it down. Instead, had the firm leased the space then they can move without having to worry for real estate space.
    • If the space is owned, then it must be maintained, operated. These activities may result in loss of focus of the firm from their core activities. Operating and managing properties is usually done more cost effectively by firms that specialize in the real estate operations.
    • Flexibility of scaling down the business. That means if a firm decides to scale down its operations then the firm can do it easily if the space has been leased than owned. Scale down means use of less space.
  3. Real estate business activities should be performed by professionals trained in real estate business. Some of the following activities are:
    • Selecting the right tract of land and developing the right amount of space
    • Leasing that space to many different tenants, for example, builders develop Office Space in Gurgaon and lease it to many different tenants with different office space sizes.
    • Hiring personnel, collecting rents, and maintain the facility
    • Finding financing for the investment or development
    • Doing continuous research about real estate markets in order to decide when to sell, raise or lower rents, renovate and so on.
    • Many other such activities.

Have any Questions?