Mentioned below are steps a home buyer can take, if his income sources have been adversely impacted because of this crisis.
The unemployment rate in India rose to 8.30% in December 2022 from 8.00% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on January 1, 2023. This is the highest this rate has been in 16 months. Individually, the urban unemployment rate rose to 10.09% in December from 8.96% in the previous month while the rural unemployment rate declined to 7.44% from 7.55%. Either way, this makes one wonder. How would one pay the home loan EMIs, if they were to lose their job?
Home buyers in India largely depend on housing finance to make a home purchase. This means a large number of buyers are under tremendous pressure due to the prevailing employment scenario. So, what should a home buyer in India do, if his income sources have been adversely impacted?
“Ideally, a home loan borrower should include his home loan EMI of at least six months in his emergency fund. Including this would allow the borrower to continue with his EMI payments, even during financial emergencies like job loss,” says Ratan Chaudhary, head of home loans,
Opt for EMI holiday, if available
If a bank allows EMI holidays, there are certain things that the beneficiaries must be mindful of. First of all, it is not an EMI holiday – you will have to pay the money later, with interest. A moratorium only means that you have got a few months’ relaxation without the late payment being categorised as a ‘default’ in your credit history. Additionally, whether the benefit is extended to you, would be your lender’s call and the interest to be charged for the delayed EMI payments would also be at the bank’s discretion.
Suppose your home loan EMI is Rs 40,000. Upon non-payment, this amount will be added to the loan principal. In the next month, the interest will be computed on the loan outstanding, along with Rs 40,000.
For a borrower who has been laid off, not taking this option is not actually an option. “While availing of the moratorium will cost them additional interest cost, it will give them at least a two-month window, to get a job or arrange funds from other sources, without hurting their credit score,” says Chaudhary.
Money from severance package
Once any moratorium period ends, a borrower will have to arrange the money to pay his home loan EMIs or face the usual consequences – the default would find a mention in your credit history and the bank would charge a penalty on each default, apart from the interest.
At this point, you may be forced to use the money from your severance package to make the payment. This amount would technically be equal to the salary of the number of months mentioned as your notice period under your job contract. You will for instance, get at least two months’ salary as part of your severance package, if your notice period is two months. Since this money is all you have for the time being, you have to be careful in spending it. While you use this money to pay the home loan for now, look for other options in case you are not able to find employment for the time being.
Use Fixed Deposit (FD), Recurring Deposit (RD) money
You could also depend on your FD and RD to make the EMI payment for the simple reason that the interest you currently get on these (SBI FD interest is 5.50% for a one-year tenure, at present) would be much less than the interest you would pay on home loans (SBI home loan interest rate on a loan size of Rs 30 lakhs is 8.50%), more so in case of a default.
“Those who have failed to make provisions for home loan EMIs in their emergency fund, can redeem their existing fixed income investments not tied to any crucial financial goals, such as retirement corpus, children’s education fund, etc.,” says Chaudhary.
Withdraw from Provident Fund (PF)
Using your UAN login, you can withdraw this amount that could help you to pay the home loan EMIs for some months, till you find alternate sources. The best part of the plan is that your request of withdrawal of the PF money will be addressed within three days. To understand the PF withdrawal process, read our complete guide on Member Passbook.
Liquidate assets
Sell gold, liquidate debt instruments: Investment in various debt instruments can be liquidated at this juncture, to pay the home loan. You could also pledge gold and jewellery, to arrange funds for home loan EMI payment.
You could also consider selling automobiles, furniture and gadgets that are not a necessity at this point.
Alternatively, you could also take loan against gold – the interest rate on loan against gold starts at 7.25% and goes up to 18% annually. Considering this is a secured loans, banks would process the loan request quickly.
Equity investments, opines Chaudhary, should not be touched, as this would mean converting your notional losses into real ones. “The ongoing correction in the equity markets would have already reduced their portfolios by at least 30%,” he says.
Borrow from family, friends
Look for family support: Borrowing from family members and friends who are in a position to lend you money for the time being, could be another option. This option is advantageous as:
You will not have to pay an interest on the amount.
You will have more willing and less scrutinising lenders than a bank.
You will not accrue penalty on the interest that you are not able to repay within a specified time.
Nevertheless, be realistic about the timeline when you plan to return the money as you are running the risk of stressing your personal relationship here.
Loan against insurance policy
Your life insurance policy can also come to your aid, if you have to borrow money and have no other option at your disposal. You can opt for a loan against the insurance policy. Apart from the fact that your insurance company will be able to disburse the loan quickly (it already has all your details), this debt would be comparatively affordable. The rate of interest on the loan against an insurance policy, is much cheaper than getting a personal loan.
Things home buyers should not do if they are paying EMI
Here are certain things that you should not do, as you deal with tough times in your life:
Avoid the lender: The first thing the borrower should do, is to inform the bank about any job loss. Avoiding them at this juncture would be the worst thing to do. Genuine borrowers would not find it difficult to convince the bank to refinance the loan. For example, by prolonging the tenure, the EMI amount could be reduced.
Expect a salary hike: In a bad job market, finding a job might be a painful process. You should not be averse to a job offer that would pay you not more than your last salary package, or in fact, pay less. Remember, this is only for the time being. You may find a job suited to your skill and profile when things get back to normal.
Should you buy, or rent? Should it be a ready-to-move-in apartment or an under-construction one? Here’s a list of to-dos, may-dos, and most certainly don’ts.
Richa Kulkarni, a chartered accountant, moved to Mumbai from Bengaluru seven years ago and has been paying about Rs 50,000 rent per month for a house in a gated community in Kandivali, which has all the amenities.
She recently shortlisted an under-construction property in the same area and paid the booking amount. She says that she consciously chose to stay on rent all these years as it was more cost effective and there were several rental options to choose from, as against making a capital investment where there would be strict budgetary constraints.
“If I had bought a house seven years ago, it would have cost me around Rs 2 crore and my EMI (equated monthly instalment) would have been Rs 1.5 lakh. My rent then was around Rs 40,000 per month. I have now decided to buy a house despite rising interest rates because I am more financially stable and have this emotional and aspirational factor to consider. Besides, loan eligibility is also a big factor. I may not easily get a loan as I grow old,” explains the 38-year old.
An apartment worth Rs 2 crore in a Mumbai suburb with a rental yield of about 1.5 percent per annum will cost Rs 3 lakh per year in rent. Even if a person decides to stay on rent in the same apartment for years, he may end up paying Rs 1.99 crore in 30 years instead of shelling out the total amount in one go.
“Even if one were to assume that there is a 5 percent rental escalation every year, one will have approximately 30-35 years to pay the lumpsum amount that a homebuyer would need to pay now. Most homebuyers opt for home loans, which significantly adds to the cost of ownership. There’s also the added advantage of mobility. You can move homes across cities at a drop of a hat. This is the prime reason why millennials and GenZ are preferring to rent houses. Having said that, if the emotional attribute of owning a house weighs heavy on the family, then the purchase becomes necessary,” explains Abhishek Kiran Gupta, CEO, CRE Matrix, a real estate analytics firm.
It boils down to whether you can afford that rental / EMI
The single most important factor to answer the question of whether to buy or rent is one’s budget and availability of ready finance. Remember, interest rates are at an all-time high and so are rentals in some markets. If your rental budget is Rs 20,000 per month and the rents in your area have shot up to Rs 30,000, it’s time you considered areas 5 km away where rents would still be Rs 20,000. But if you are open to buying a house 15 km away from your current location and financially secure enough to pay around Rs 60,000 per month as EMI, you should consider buying an apartment.
Hefty down payment
If you’re sure you can afford a house, make sure you do the due diligence. Experts say that as far as possible and depending on your age, it’s always good to pay up a sizeable amount as down payment. The more the better, in fact. This is important because you may be able to service fatter EMIs today but not in the future if you do not have a job. With inflation rising, what if your debt-to-income ratio gets into an uncomfortable zone?
Ready-to-move-in or under-construction?
Ask yourself whether you want to buy a property which you can live in right away, or can wait three years, say. Accordingly, decide whether to buy a ready-to-move-in property or an under-construction one.
The ideal thing would be to go for a ready property. If your budget is slightly stretched, you can consider a soon-to-be-ready project that is at least 80 percent complete. There will be minimal risk of the project getting delayed, which is a critical factor. There are severe financial implications if a project is delayed. You would not only have to pay home loan EMIs, but also rent for the apartment you reside in. Do make sure that the project has received an occupancy certificate from the authorities and that flats are being registered.
Having said that, if you do not have adequate funds and can wait for some time, an under-construction property by a reputed builder is the way to go. There are always more options available when you decide to go in for an under-construction property, You may get the floor and the house number of your choice, you could have adequate sunlight, maybe even a terrace or a garden. But then, there is always the risk of non-completion. Take your pick.
Who should buy?
Those who are employed and have 25-30 percent of the cost of the apartment available for investment. Remember, banks will only fund 80 percent of the cost . Those who already own a home can consider upgrading to a more spacious apartment.
Don’t buy for quick profits or short-term gains.
Besides apartments, buyers could even consider buying into a plot by a Grade A developer.
Should you buy now?
Interest-adjusted affordability is still higher than inflation-adjusted prices. This means that incomes have risen more than prices, so people would still be able to afford houses. “If the house is affordable and suits your pocket, you can think of buying it. But only end-users should venture forth as it is still not an investors’ market and capital appreciation is modest,” says Pankaj Kapoor of Liases Foras.
According to Dhruv Agarwala, Group CEO of Housing.com. Proptiger.com, and Makaan.com, you cannot time the real estate market as far as buying a home is concerned. His advice is that buyers should get on to the realty investment ladder even if it is for a small home. “Don’t live in it. Rent it out and trade up for a bigger apartment to live in when you can afford it. Don’t keep waiting for the perfect time. if you keep waiting for the perfect time, then you may never end up pulling the trigger,” he adds.
Things to keep in mind before buying a house
A buyer should make sure that the title of the seller is clear and free from encumbrances. In case of a secondary purchase, all property-related documents for the last 30 years should be examined. If documents for 30 years aren’t available, then at least documents for the last 12 years should be examined.
In case of a new project, the layout plan should have been approved by municipal authorities. An occupancy certificate from the competent authority should be obtained before taking over the property. If this has not been obtained, there is a risk of the property not getting registered.
The project should also be registered under RERA and the buyer should verify if all its provisions have been complied with. Most importantly, even if the project is RERA-registered, do not purchase property from a builder who is sitting on debt.
Estimate the total cost of ownership, including parking charges, stamp duty, registration charges, interiors, etc. Take into account the monthly maintenance charges that you may have to pay.
Make sure you keep three to four options open and don’t fixate on a single property. The golden rule is to explore. Of four properties you select, at least one developer or seller in the resale market will get back to you. The buyer should be willing to negotiate hard or walk away.
It’s advisable for buyers to choose the right location. See that there are proper roads leading up to the project, enough shops for daily needs, and that schools and hospitals are close by. Most importantly, check the distance to your workplace (offices will not remain shut forever) and the modes of transport available. As an end-user, don’t buy into futuristic no-man’s lands.
Visiting an on-ground property exhibition scores high over a virtual one because investors can know exactly what to expect from their assets
It’s a good time to step outdoors if you’re on a house hunt. While you might have researched online for homes in the market, a visit to a property exhibition can prove to be quite beneficial as you get to meet the developers and builders upfront. If you’re still trying to figure out what a property exhibition offers and how to make the most of your valuable time visiting one, then refer to the following tips.
Choose The Top Exhibition
For quite some time, property shows wereconducted on digital platforms. However, on-ground shows are now being held all across the city, making it difficult to choose which one to visit. Browse through newspaper advertisements to verify the scale and credibility of the organisers and participants. Those that are organised by reputed industry bodies of real estate developers are your safest bet. These expos usually see participation by top real estate companies.
Stamp duty on gifting for an NRI
At property exhibitions, the choice of properties, too, is vast, offering a range of ticket sizes and price tags to take your pick from and finalise the deal on the spot.
Choosing the right exhibition will help save your time and arrive at a decision sooner.
Benefits Of An On-ground Exhibition
According to a national real estate developers’ organisation, attending an on-ground exhibition has more benefits to offer than a virtual one.
When you attend a real estate expo, it provides opportunities for in-depth knowledge about the market conditions, networking with real estate developers and their associate companies such as banks and housing finance companies (HFCs), getting first-hand information about the properties on sale, and discussing and negotiating the best deal on the table.
For real estate agents who are looking to expand their business, an expo offers a great business environment to discuss new strategies and build stronger relationships to help the real estate brokerage business thrive.
The Model Home Walkthrough
Serious home seekers can get a lot out of a property expo especiallyone that has developers offering a physical walk-through of model homes fabricated at the venue. Yes, a furnished model flat installed at the expo can give buyers a firsthand experience of what their home will look like, the floor area they’ll get if they buy the property, how it could be designed and furnished, and the quality of fixtures and products that come with the price tag. It’s definitely an advantage if several developers offer this immersive experience before you decide to visit the site of the property itself.
Home Finance Options
One of the advantages of visiting a property expo is the range of HFCs and banks offering on-the spot finance for home purchase. At a property exhibition, you can expect the participating developers and their partner housing finance organisations to have their kiosks right beside each other. A majority of banks and HFCs partner with real estate developers to offer good deals on housing loans at the best interest rates in the market. And at a large expo there are chances of securing on-thespot finance for your home when you can meet and negotiate with the developer and lender together at the same place. And if you are an existing customer with the lender and have a strong credit record, getting a pre-approved loan will get you a better deal from the developer.
Range Of Options For Investors
A real estate expo is not just for homebuyers alone. Along with residential options, the scope of an exhibition includes commercial properties, business centres, multiplexes, recreation clubs, holiday resorts and so on. This is for all those who are looking to buy or invest in different real estate categories. It is one of the aspects to ascertain before you step into a property expo. So, if you are apotential homebuyer and also plan to invest in a holiday home, you should research if the developers of these properties are participating at the expo. This makes it possible to meet them in person to discuss the terms and conditions, thus eliminating any ambiguity. All in all, visiting a property expo where you get to meet and interact with the real estate players to clinch the best deal on the property of your choice sure has its advantages.
The premium BEST bus service is expected to be on the lines of private cab service providers.
The Brihanmumbai Electric and Supply Transport (BEST), an undertaking of Brihanmumbai Municipal Corporation (BMC), is likely to begin its much-awaited premium services from the second week of December. Lokesh Chandra, General Manager of BEST, said that with five buses, they are set to begin the premium service between Thane and Bandra Kurla Complex.
“We have identified a couple of routes of which the first will be BKC-Thane. Five buses have arrived of which three are in Regional Transport Office (RTO) and are undergoing registration. The other two are at depot and have obtained RTO clearance. These buses will ply between BKC and Thane route in peak hours. In non-peak time, they will ply within BKC as premium service only,” said the IAS officer.
The premium BEST bus service is expected to be on the lines of private cab service providers. The user can book the bus from the exisiting BEST Chalo mobile application, make the payment digitally and board the bus from the nearest stop. The service will be fully air-conditioned, said Chandra, adding the commuters will have a comfortable travelling experience.
On the rationale behind the premium bus service, Chandra said, “Many office goers do not use BEST as they are overcrowded. With option of premium service, these people, who largely prefer private cab as they want to travel comfortably, will also switch to BEST buses. Moreover, the BEST premium service will be affordable unlike cab service providers. It will cost Rs 5 per km, which means a trip on the BKC-Thane route should be in the range of Rs 150 to Rs 200.”
Apart from facilitating the commuters, BEST premium service will also help in reducing road occupancy, according to officials.
The service will have 200 buses via a private operator in phase 1. The fleet will gradually expand to 2,000 buses by 2024.
BEST has tied up with a private operator – Ashok Leyland – on a revenue-share model as part of which the operator will share 4 per cent of earning every month with BEST in return of which it will be allowed to use BEST facilities like bus stops, parking at the depot among others. The drivers of these buses will be provided by the operator.
The kitchen, as per Vastu, is the source where food that nourishes the inhabitants of the home, is cooked. We look at some Kitchen Vastu Shastra dos and don’ts for this crucial area of the house
The kitchen, today, is the hub of activity in a modern home. Kitchens are well-designed areas with the latest gadgets, where family members are seen cooking, bonding together and even socialising with friends and family.
The right direction of kitchen as per Vastu is the south-east corner of the house, which is ruled by the Agni devta or Fire god. Thus, it is the ideal kitchen position as per Vastu shastra guidelines.
Kitchen Vastu
Kitchen direction as per Vastu
The southeast is the ideal direction for a kitchen, as per Vastu for an east facing house. However, if this place is not available to accommodate a kitchen, the one can consider northwest but avoid north, west and northeast directions. One can consider southeast or northwest direction for a west facing house to design a kitchen.
A kitchen in north west direction is suitable for some people and their health, especially women. The direction is ruled by Vayu/ air or the wind god. Air works as a supportive element for fire. When designing a kitchen in northwest, ensure that the southeast direction is also balanced. One should consider a kitchen in south west direction only if designing it in the southeast and northwest directions is not possible. To rectify this Vastu dosha, place the gas in southeast zone and colour the walls in yellow shades to balance the negative effects. Use minimal amount of water inside the kitchen. As per Vastu, for washing utensils, make a space outside the kitchen.
Kitchen size
While choosing the best kitchen location as per Vastu, the size of the kitchen is important too. It should not be very small. The preferable size is 80 sq ft or more. If the kitchen is very small, it can have a negative impact on the women of the house..
According to Vastu, one’s home should have a proper balance of the elements of earth, sky, air, fire and water. “Fire or ‘agni devta’, is associated with the Sun, which symbolises energy and strength. As per Vastu, the placement of fire sources should be in the south-east direction. So, the kitchen should be in the south east corner of the house and one should face east while cooking. While cooking, west direction is an alternate neutral direction to face as per Vastu, while cooking. The sink should ideally be placed in the north-west zone of the kitchen. Place the water pots and water purifier in the north-east side,” says Mumbai-based Nitien Parmar of VastuPlus.
A clean, spacious and clutter-free kitchen is a must for good health and prosperity. The kitchen must have windows and be airy and have enough light. In order to avoid clutter and have ample space while cooking, the design of the kitchen should be minimal, with clean, simple lines. Storage space, as far as possible, should be on the west and south walls of the kitchen.
“Water dripping from a tap or a leaking pipe in the kitchen, denotes that wealth is being drained from one’s life and should be immediately repaired. Always keep the rice jar at home filled more than half for prosperity. Avoid keeping storage jars on old newspapers. Do not keep the dustbin in north-east of the kitchen and avoid cooking under an overhead beam,” adds Parmar. Vastu Shastra, which advocates the design and construction of buildings in harmony with the natural laws of the universe, has several guidelines for the open and closed kitchen, so that the home has the right kind of energy and positivity. The atmosphere in the kitchen is very important, for the occupant’s health and other benefits, says Vastu Shastra and astrology expert, Jayshree Dhamani. “Health is wealth and the correct position and placement of things, in the appropriate direction, matters according to Vastu Shastra. It is the fireplace which purifies the energy of the house and thus, the food cooked there is said to fuel and nourish the body. Hence the fire has to be placed in the perfect direction. Kitchens should not be in the north-east and south-west,” explains Dhamani.
Kitchen Vastu significance
As per Vastu shastra, the way a house is designed can influence the flow of energies around us. From living beings to non-living objects, everything has an impact on the energy flow, which is why Vastu guidelines must be followed to ensure positivity and eliminate the negative energies. The kitchen has a vital role to play in the house. It is the place where the food is cooked that is responsible for giving us energy. Designing the kitchen is the wrong direction may cause imbalance in the energies, which can directly have an impact on the inhabitants of the house. Thus, selecting the right direction for the kitchen as per Vastu, becomes essential.
Vastu for kitchen ventilation and windows
If there is improper ventilation in the kitchen, it can result in major health issues for the woman of the house, or whoever cooks in the kitchen. In the kitchen, the right position of windows, as per vastu, plays a crucial role in ensuring a positive atmosphere. A proper window, or air outlets in the form of an exhaust fan or modern chimneys, are important to suck the air out. With good light and air, the quality of the food becomes better. For windows in the kitchen according to Vastu, the best direction is in the east. An exhaust fan too can be placed in the east.
Vastu for Kitchen: Tips for open kitchen layout
The concept of open kitchen is gaining preference from a lot of Indian families, especially those who have lived abroad for several years. Before selecting kitchen location as per vastu, here are a few Vastu tips for open kitchen layouts you should keep in mind:
The ideal zone for an open kitchen is the south-east, as both, the south and east, directions are dominated by the fire element.
Open kitchen layouts in the north zone should be avoided, as it affects new opportunities in career, growth and money.
The west zone is also considered good for open kitchen layouts. As per Vastu, an open kitchen in west direction promotes gains and good health, physically and financially.
The kitchen symbolises purity. Therefore, white is the best colour for kitchen according to Vastu Shastra but do not overdo the white colour. One should not use too much red either in the kitchen, as it creates unstable energy. Avoid using dark colours as they may lead to depression. Other ideal colours recommended for the kitchen are green, lemon yellow and orange as these represent nourishing colours and colours of fire. Opt for white in the kitchen ceiling to create balance. Avoid using black, grey and blue colours in the kitchen. “In case one cannot have a separate pooja room, one can have a temple in the kitchen, in the north/east corner, provided one cooks vegetarian food. If non-vegetarian food is cooked, then, it is better not to keep a temple in the kitchen,” concludes Dhamani. Vastu Shastra principles suggest that one can place the mandir, either to the left or right of the stove. Avoid placing the stove opposite the mandir. Also, as per Vastu, the place for kitchen sink and stove should never be near or below the mandir. Do not use black colour in the kitchen. Light pastel shades are ideal.
Kitchen slab Vastu
For a kitchen slab according to Vastu Shastra, it is better to use stone or marble instead of granite, especially in black colour. The colour for the kitchen slab depends on the direction in which the kitchen is located. If the kitchen is in the east, a green or brown slab is ideal. For a kitchen in the north-east, opt for a yellow slab. For a kitchen location, as per Vastu principles, in the south or south-east, brown, maroon or green slabs are best as per Vastu principles. A grey or yellow slab is recommended for a kitchen in the west. Green is the colour for the kitchen slab in the north, although, ideally, one should avoid having the kitchen in the north area.
Kitchen Vastu: Dos and don’ts
Vastu for kitchen: Don’ts
Do not have a kitchen directly under or above toilets.
The kitchen, as per Vastu experts, must never face the main entrance of the house.
Do not keep medicines in the kitchen.
Avoid keeping waste material, like old newspapers, rags and unwanted items, in the kitchen.
According to Vastu do not store salt in steel or iron utensils.
Washbasins and the cooking range should never be kept on the same platform or parallel to each other in the kitchen. Since both fire and water are opposing elements, it can create fights and rifts between couples and family members.
As per Vastu Shastra, never keep the shoe rack close to the kitchen. Avoid wearing shoes in the kitchen. If one has to wear slippers, keep a separate pair to be worn only at home.
If there is an overhead tanker in the kitchen, then as per Vastu, it should not face the north or northeast direction. You can place it outside the kitchen in west direction as recommended in Vastu.
Vastu for kitchen: Dos
Regularly clean the kitchen. Mop the floor thoroughly and discard all unwanted things. Never keep chipped or broken cups, dishes or pans. Always clean your kitchen and the utensils daily at night, before sleeping.
Ensure that the garbage bin is always covered with a lid and the dustbins are cleaned regularly.
Keep a tulsi, pudina, bamboo or any herbal plant in the kitchen window area. Avoid thorny plants, as these give rise to tensions in the environment.
Keep a small idol of goddess Annapurna (goddess of food ) in a rice jar. One can also keep a picture of Annapurna devi or a picture of fruits, which ensures abundance in the kitchen.
A well-organised and a neat kitchen, not only helps one to cook with ease but also creates a positive vibe.
A basket with fruits should be placed in the northern side of the kitchen, as it symbolises abundance.
A kitchen should always have salt, turmeric, rice and flour. Ensure that these are replenished before they get over, advises Vastu. Keep the salt in a glass pot or jar. This aids in peace at home and also keep financial problems away.
To fill the kitchen with positive energy, ensure that the kitchen smells good. You can make a natural air freshener by boiling lemon peels, orange peels or cinnamon sticks.
Keep the burners of the kitchen stove clean, as this ensures smooth flow of cash in a household.
The kitchen should have a window, to let the negativity out. Also, install an exhaust in the east direction above the window, to let the negative energies flow out.
As per Vastu, the entrance, or the door to your kitchen, should be in the east, north, or west direction.
When deciding the kitchen position as per vastu, make sure the kitchen door should always open in a clockwise direction.
Ensure that all the objects inside the kitchen that represent fire, such as gas stoves, cylinders, microwave ovens, toasters, etc., are placed in the south-east part of the kitchen.
If you want to keep the refrigerator in the kitchen, it should be positioned in the south west direction, as per Vastu, as it will help you in overcoming obstacles in life. Keep the fridge well-organised, clean and ensure that it is not stuffed. If one keeps bottles filled with water, fill it with fresh water regularly.
For storing grains and stocks of daily items, prefer the south west direction of the kitchen, as per Vastu, as it invites good luck and prosperity. Discard empty containers or fill them with some grains. Empty vessels jars if any must be kept at North or East or even at Northeast.
To keep circulating positive energy, clean your kitchen cabinets, drawers and other storage areas regularly. Get rid of old food packets, stale things, chipped plates or even equipment that does not work.
It is beneficial to store ghee and cooking oil between the south-east and south areas of the kitchen, as it is believed that this would lead the kitchen to be always be full of food.
As per kitchen Vastu, knives and scissors should be kept covered or inside the shelf. Keeping them in the open can give rise to bitter relationships with family and friends. Always keep pickles in a covered place, to avoid sourness in relationships.
Maintain a balance between the water and fire elements in the Kitchen. Wash basins, water pipes, washing machine, and the kitchen drain must be positioned in the north or northeast direction.
Kitchen cabinets and their direction as per Vastu
For any kitchen, the position of cabinets as per vastu also has an influence on the flow of energies in the house. Design maximum cabinets in the south and west kitchen walls. Leaving open space above kitchen cabinets can attract negative energy. If the kitchen cabinets do not extend to the ceiling, keep plants or decorative items on them. For kitchen cabinets in the east go for shades of green and brown For cabinets in South and South East red, maroon, pink, orange and brown are ideal. For kitchen cabinets in the west, ideal colours are silver and white For a kitchen in the north opt for blue, green and brown
Vastu tips for kitchen design and décor
Avoid an all-white kitchen, as it can make the space look dull and cold. A kitchen should always look welcoming.
Do not build too many cabinets in dark colours, as it can make the space look claustrophobic and overbearing.
Place the kitchen platform position as per Vastu principles. According to kitchen Vastu, platforms touching the north wall of the kitchen should be avoided but platforms can be extended on the southern wall.
If a loft is required in the kitchen, then, it should be on the west or south wall and not on east or north.
According to Vastu, keeping a water-filled pot in the kitchen helps in keeping financial woes away. If one cannot keep a big earthen pot, opt for a small one. Fill it with water and keep it in the north or north-east portion.
If you want a timeless look, avoid decorative decals as it may go out of trend very soon.
Do not use dark colours in a small kitchen as it makes the space look smaller.
High cabinets and low ceilings are not the best match, as one will shrink the perception of the other.
Make sure the kitchen stove is placed in the right direction as per Vastu. As per Vastu for kitchen sink and stove, if the stove and sink are close to each other, place a bone china vase between them as a Vastu remedy.
Ensure that the windows open out to the east or the north for natural light.
The floor colours of the kitchen should be yellow, orange, rose, chocolate or red.
The kitchen design should be such that the position of gas burner, as per Vastu, is not right in front of the main door of the kitchen.
Avoid keeping a broom in the kitchen and never keep it upright. Always keep it on the ground.
Which direction to face while cooking as per Vastu?
One should face the east direction while cooking. Thus, kitchen items such as gas stove and appliances should be placed in a way that one faces east while cooking. An alternate cooking direction is the west. In case the placement of stove is close to the sink, then keep a bone china vase in between as a Vastu remedy.
Kitchen Vastu remedies to remove Vastu dosh at home
Here are a few simple remedies for kitchen Vastu dosha but it is always better to consult a Vastu expert and seek advice.
If the kitchen location, as per Vastu, is in the northeast or north direction, then, as per Vastu, a Jupiter crystal pyramid placed above the stove helps to reduce the negative energy of the Vastu dosha.
If the placement of the stove is not as per Vastu Shastra, then, paste a set of three zinc pyramids on the wall opposite the stove.
According to Vastu, if the kitchen platform is black, and one is unable to replace then put white tiles under the stove.
For the kitchen that has a Vastu flaw of facing the main door of the house,, hang a 50 mm crystal between the main door and the kitchen door, on the ceiling.
Hang a 50 mm crystal on the four corners of the ceiling of the kitchen, to minimise the Vastu dosha arising out of incorrect placement of the water storage tank.
If electrical appliances are placed in directions other than the south-east in the Kitchen, as per Vastu, paste a Mars crystal pyramid beside the electrical appliances.
If the kitchen is in the north-east direction which is not favoured by Vastu, then, it is advisable to paint it in yellow colour to minimise the ill effects of Vastu fault.
If the kitchen and the toilet share a common wall, then, a zinc metal ‘nine pyramid’ should be pasted on both sides of the wall that is common to the kitchen and bathroom, to reduce the negative impact of Vastu fault.
A simple remedy is to place a crystal and a yellow light bulb in the temple, if the temple or the puja room is above the kitchen sink.
To correct Vastu doshas, you can also place small portions of uncrushed sea salt. It absorbs all the negative energy from home. Replace the salt in the bowl regularly.
The kitchen door should not be behind the person who is cooking. The door should open in a clockwise direction, either towards the east, north, or north-east direction. If this is not possible, then, a Vastu remedy is to fix three Zinc Jupiter crystal pyramids on the wall opposite the stove.
At least 68 separate land deals, accounting for 1,656 acres, were closed in the first nine months of 2022 across top eight cities, as against just 20 land deals for 925 acres in the corresponding period of last year, it said.
NEW DELHI: Real estate developers are aggressively looking to expand their business with revival in demand, resulting in a sharp rise in the number of land deals which jumped over three-fold to 68 across eight major cities during January-September this year, according to property consultant Anarock.
Anarock has compiled the land transactions, which include both outright purchases by developers and also joint development agreements (JDAs).
At least 68 separate land deals, accounting for 1,656 acres, were closed in the first nine months of 2022 across top eight cities, as against just 20 land deals for 925 acres in the corresponding period of last year, it said.
Out of the 68 deals in January-September period of 2022, as many as nine were either JDAs or on revenue sharing basis. The remaining deals were outright purchase.
Land, the most precious finite resource amid rapid urbanisation, has been seeing increased action after the COVID-19 pandemic, Anarock noted.
To encash the surge in housing demand compared to 2020 and 2021, all major real estate firms like Macrotech Developers, Godrej Proerties and Prestige Estates are buying land parcels outright and also entering into partnership with landlords.
“In terms of land area transacted, has seen the biggest land transactions so far this year,” said Santhosh Kumar, Vice Chairman of Anarock Group.
“In terms of total number of land deals, MMR (Mumbai Metropolitan Region) clocked the highest number of deals; while the total area transacted was unspectacular, one must also consider the steep prices in this land-starved city,” he added.
Of the total land deals during January-September of this year, there were 40 deals comprising 590.54 acres for development of residential projects, while four land deals were for industrial and logistics parks covering 147 acres.
For development of data centres, four land deals were struck for 118.8 acres.
A target of 3.5 lakh homes have been set under the Awaas Plus policy that covers people not represented in the PMAY list.Maharashtra will launch a new housing scheme to provide accommodations to people not covered under the central government’s Pradhan Mantri Awas Yojana scheme (PMAY) and the state-run Awaas Plus Yojana.Recall here that under the PMAY scheme, the state is building 5 lakh houses, expected to be ready by March 2023. A target of construction of 3.5 lakh homes is set under the Awaas Plus policy that covers people not represented in the PMAY list.With this additional step, the state aims to make Maharashtra the first state free of homeless people, said Maharashtra deputy chief minister Devendra Fadnavis.“Under the PMAY, a target of completing 10.5 lakh homes was set for Maharashtra, which used to be the first to complete projects. However, later it lost its ranking with respect to project completion, owing to reasons like encroachment and non-availability of plots. The Maharashtra government has framed a new policy that regularizes encroachments and makes land available,” he said.
The MRVC official said that for this corridor, 2.55 hectares of land will be required of which 0.47 ha is private land and the rest, government land. While the government land parcel has been acquired by MRVC, the private land is in an advanced stage of acquisition, the official said.
THE EXISTING trans-harbour railway line that runs between Thane and Panvel will have a new station, Digha, which will be a part of this route in January 2023. The new station will come after Airoli and will also be a part of the proposed Airoli-Kalwa elevated suburban corridor on the Central Railway line.
An official of Mumbai Rail Vikas Corporation (MRVC), which is implementing the Airoli-Kalwa suburban corridor and has also constructed the Digha station, told The Indian Express that the station is almost ready and only work of platform shelter, subway, bridge, drainage construction are in the last stages which should be completed by December this year. From January, the trans harbour line trains will also halt at Digha, said the official.
Meanwhile, the MRVC is waiting for the Mumbai Metropolitan Region Development Authority (MMRDA) to hand over land for the new suburban corridor link between Airoli and Kalwa. MMRDA is also responsible for resettlement and rehabilitation of existing slums on this land. There are about 1,080 slums spread on the private land portion. MMRDA has approved 924 rental housing units for R&R. Verification of 209 Project Affected Houses (PAHs) has been done and sent to MMRDA for allotment, of which allotment letters to 113 PAHs have already been issued, as per the MRVC.
The MRVC official said that for this corridor, 2.55 hectares of land will be required of which 0.47 ha is private land and the rest, government land. While the government land parcel has been acquired by MRVC, the private land is in an advanced stage of acquisition, the official said.
The Airoli Kalwa elevated new suburban corridor is proposed to be completed in three years once the R&R and land acquisition is done, said the official. The new corridor has been proposed so that commuters of Central Railway catching trains from Badlapur, Kalyan, or Dombivli do not have to change trains from Thane station which is the terminus for trans harbour railway line. Currently, those travelling from the down direction on the Central Railway line and wanting to travel on the trans harbour route have to get off at Thane station. With the commissioning of the Airoli-Kalwa elevated corridor, commuters will be able to directly travel to the trans harbour line without changing local trains at Thane.
Officials said that the Shinde-Fadnavis government is given an in-principle nod to redevelop these old buildings under section 33 (7) of the Development Control Regulation (DCR) with a floor space index (FSI) of 3 or additional incentive FSI of minimum 78%.
MUMBAI: Ahead of the BMC polls, the Shinde-Fadnavis government in the state will soon issue a notification which will pave the way for the redevelopment of Mhada’s 388 reconstructed buildings that are more than 30-years old with added incentives to fast-track their redevelopment. Most of these buildings located in south Mumbai are in a dilapidated condition. Around 30,000 to 40,000 residents live in these buildings.
Officials said that the Shinde-Fadnavis government is given an in-principle nod to redevelop these old buildings under section 33 (7) of the Development Control Regulation (DCR) with a floor space index (FSI) of 3 or additional incentive FSI of minimum 78%.
“Earlier, only 66 of Mhada’s reconstructed buildings were redeveloped with the added incentives under Prime Minister’s Grant Project (PMGP). Now the remaining 388 buildings in south Mumbai will get these additional benefits. These are buildings that have been reconstructed in the past but now need to be pulled down and redeveloped,” an official said.
The state government’s decision is seen as a move to woo voters ahead of the BMC elections now scheduled for early next year. Cessed building is a building which pays cess or tax which is actually a repair fund to Mhada.
“The government is positive about the redevelopment of buildings by amending clause 33(24) of the DCR and applying all the benefits of clause 33(7). A decision will be taken within a week. This will bring relief to thousands of people living in old and dilapidated buildings. This decision will fulfil the dream of residents now living in 160/225-sqft area homes to get new homes of 400 sq ft,” an official said.
“Suggestions and objections were invited and said proposal was submitted to the government by Mhada. Out of more than 14,000 old and dilapidated buildings in the city, many buildings have been reconstructed by Mhada. Due to this maintenance cost of the buildings has increased. There was a demand for redevelopment of these buildings. Developers were not coming forward for the redevelopment of the buildings as there was not enough FSI available for the redevelopment of these buildings. But a concrete decision will be taken soon. It is expected that a notification will be issued by next week,” said an official.
MMRDA is exploring the plan for a bypass that would skirt Thane’s congested streets by cutting through parts of the Sanjay Gandhi National Park (SNGP). If constructed, it would be primarily of benefit to traffic moving between Mulund, Airoli, Chembur and onwards to Palghar and Gujarat.
Starting point: Northernmost tip of Mulund at Shrinagar off LBS Road
Ending point: Gaimukh on the outskirts of Thane on Ghodbunder Road
Areas to be covered: The road would pass along the Yeour Hills, crossing Indira Nagar, Lokmanya Nagar, Upwan lake, Manpada, Dongaripada and Anand Nagar
Who will it benefit
Motorists from Mumbai’s central and eastern suburbs & those from Thane travelling northwards.
1.5 hours Time taken at present to cross the 20km stretch between Mumbai-Thane boundary at LBS Road and Gaimukh.
10 minutes Time taken to travel between the same points on the proposed Foothill Road (to be designated as a high-speed corridor) at an average speed of 70kmph.
Property Thane 