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 Although the Real Estate Law has been a hit among the buyer community, objections and clarifications are also doing the rounds. Much of this is also because the state-level regulators would come into play and in each state, byelaws might be slightly different.

So, how would the Real Estate (Regulation & Development) Act, 2016, serve homebuyers? Here’s a one-stop guide for homebuyers like you:

What are the rights and duties of the buyer?

Section 19 of the real estate Act says that a homebuyer will be:

• Entitled to obtain the information relating to sanctioned plans, layout plans along with the specifications, approved by the competent authority and such other information.
• Entitled to know stage-wise time schedule of completion of the project, including the provisions for water, sanitation, electricity and other amenities.
• Entitled to claim the possession of apartment, plot or building.
• Association of allottees will be entitled to claim the possession of the common areas.
• Entitled to claim the refund of amount paid along with interest at such rate as may be prescribed and compensation in the manner as provided under the Act.
• Entitled to have the necessary documents and plans, including that of common areas, after handing over the physical possession of the unit.
• Responsible for making necessary payments as specified in the sale agreement at the proper time and place. They will also have to pay their share of the registration charges, municipal taxes, water and electricity charges, maintenance charges, ground rent, and other charges.
• Responsible for mandatorily participating in the formation of an association or society or cooperative society of allottees.
• Liable to pay interest as prescribed. The interest may be reduced if mutually agreed by promoter and allottee.
• Take possession of the unit within two months of receiving the occupancy certificate.
• Responsible for participate in registration of the conveyance deed.

Note: You can demand penalty from developer if the project has been delayed under the provisions of this Act.

How to file a complaint?

• Association of allottees or any voluntary consumer association registered under any law can approach the Real Estate Regulatory Authority or the adjudicating officer to file a complaint.
• The fees would be decided by the authority.
• The authority may direct that specific matters or issues be heard and decided by a single Bench of either the chairperson or any member of the authority.
• The authority will appoint an adjudicating officer for holding an inquiry in the prescribed manner, after giving any person concerned a reasonable opportunity of being heard.
• The application for adjudging compensation will be dealt by the adjudicating officer as expeditiously as possible. The case has to be settled within 60 days from the date of receipt of the application.

When does a buyer become a defaulter?

Violation of authority orders:

Any violation of the provisions of the Act warrants a penalty. The penalty for the period during which such default continues may cumulatively extend up to five per cent of the plot, apartment or building cost as determined by your respective state authority.

Violation of Appellate Tribunal orders:

Homebuyers would be liable to a penalty for every day of default, which may cumulative extend up to 10 per cent of the cost of the plot/apartment or with imprisonment for up to one year, or both.

Can an offence which provides for imprisonment be compounded?

If a person is awarded imprisonment under the Act, it may be compounded if authorities decide to do so. In addition, the fine payable in lieu of imprisonment needs cannot be more than the highest limit of fine payable for that offence.

Money-wise

Where is your money going when you pay fees/penalties?

Penalties recovered under the Act are to be deposited in the Consolidated Fund of India (in case of the authority established by the Central government) and in the state account (in case of the authority established by states). However, grants received by the authority will be credited to the Real Estate Regulatory Fund.

What happens if your previous builder-buyer agreement violated the provisions of the current Act?

The agreement provisions would be followed if it is not in direct violation. However, both developers and buyers will have to follow the new rules. The rate of interest for violations would be the same as prescribed in the new Act for both parties.

When should you pay for the unit?

Much depends upon the builder-buyer agreement. However, do note that promoters cannot ask you for more than 10 per cent of the project cost before property registration.

What if the project you invested in is delayed?

All ongoing projects would come under the ambit of the new law. However, developers of delayed projects would be given one more chance to set a reasonable timeline to complete the delivery. If the promoter fails to do it yet again, he will have to pay the penalties as directed under the law.

Who is the ‘promoter’ as per the Real Estate Law?

The Act covers all private and public bodies that develop real estate projects for sale. Therefore, the development authorities and housing boards are also in its fold. It also mentions, “where the person who constructs or converts a building into apartments or develops a plot for sale and the person who sells apartments or plots are different persons, both shall be deemed to be the promoters and shall be jointly liable as such for the functions and responsibilities specified, under this Act or the rules and regulations made thereunder”. Therefore, it stands true in cases where a joint development is in question.

If the ‘promoter’ or ‘allottee’ defaults, what is the rate of payment payable?

Rate of interest payable by either the promoter or allottee is the same. It has to be specified by the appropriate government in the rules.

What if the Regulatory Authority does not respond?

Section 5 of the Act provides that the Authority has to decide on the application within 30 days of its receipt. It further provides that in case the Authority fails to take a decision within the said period of 30 days, the project shall be deemed to be registered.

What is the ‘escrow account’ and ‘separate account’?

Section 4(2)(l)(D) provides that the promoter shall maintain a ‘separate account’ for every project undertaken by him wherein seventy percent of the money received from the allottees shall be deposited for the purposes of land purchase and construction. The account has to be self-maintained and is not an escrow account requiring the approval of the Authority for withdrawal. Section 4(2)(l)(D) clearly provides that the funds can only be used for construction and land cost.

When can the promoter withdraw the money from the separate account?

The promoter is required to withdraw the amounts from the separate account, to cover the cost of the project, in proportion to the percentage of completion of the project. In addition, the promoter is permitted to withdraw from the separate account after it is certified by an engineer, an architect and a chartered accountant in practice that the withdrawal is in proportion to the percentage of completion of the project.

Who else is under the purview?

Section 2(zm) defines the term ‘real estate agents’, which is a very broad and inclusive definition and covers all from of agencies involved in sale and purchase of projects, registered under the Act. Consequently, web-portals etc. engaged in selling plots or apartments are also covered under the Act and are required to comply with the duties and responsibilities as provided therein including under the Rules and Regulations made thereunder.

What is the obligation of the promoter as regards insurance of real estate project?

The promoter is required to seek an insurance of the real estate project towards title of the land and towards construction of the project. This provision shall only come into effect after and in the manner as may be notified by the appropriate government.

Are the civil courts and consumer forums barred from entertaining disputes under the Act?

As per section 79 of the Act civil courts are barred from entertaining disputes (suits or proceedings) in respect of matters which the Authority or the adjudicating officer or the Appellate Tribunal is empowered under the Act to determine. However, the consumer forums (National, State or District) have not been barred from the ambit of the Act. Section 71 proviso permits the complainant to withdraw his complaint as regards matters under sections 12, 14, 18 and 19, from the consumer forum and file it with the adjudicating officer appointed under the Act.

What is the punishment prescribed for non-compliance of the orders of the Appellate Tribunal by the promoter?

As per section 64 if the promoter fails to comply with the orders of the Appellate Tribunal, he shall be liable to a penalty for every day of default, which may cumulative extend up to ten percent of the estimated cost of the real estate project or with imprisonment for a term which may extend up to three years or with both.

What is the punishment prescribed for non-compliance of the orders of the Appellate Tribunal by the allottee?

As per section 68, if the allottee fails to comply with the orders of the Appellate Tribunal, he shall be liable to a penalty for every day of default, which may cumulative extend up to ten percent of the cost of the plot/apartment or with imprisonment for a term which may extend up to one year or with both.

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

When should you go for property surveys/valuation?

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

Who is a valuer?

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

How does property valuation help?

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

What do I have to pay for a property valuation?

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

Is property valuation a smart move?

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

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 If you feel that the walls of your house are closing in on you, then it is about time you start thinking of redoing the house. It not always possible to break down walls and add an extension to your home. It is a costly and time-consuming affair. If you want to make your home feel brighter and spacious, then you have reached the right place. Here we share a few smart hacks to make your house look bigger and better.

1. Try multipurpose coffee tables

Avoid squeezing over seating in the room. Adding large sofas can make your room look smaller. Instead, you can use compact coffee tables. These coffee tables are handy, stylish and can be rearranged easily.

2. Hang a mirror

A mirror is the easiest thing to use to make a space look wider and larger. It not only creates a visual illusion; it also reflects more light in the room. You should frame the mirror and match it with the decor in the room.

3. Replace doors with glass

A door closes one room from another. That is precisely the purpose, but you can think of replacing a wooden door with glass. Glass doors help create depth in a room. You can also replace the shelves with glass which can help you to organize things.

4. Place furniture outwards

Instead of placing all your furniture closer to the walls, you can pull it forward.

5. Add a chaise lounge or floating cabinetry

There are many luxury apartments in Thane, which have open floor plans. You can add an L shaped sofa to separate the living area and the dining area. A wall-mounted console can also help give the room a floating effect.

6. Keep the colours light

The darker shade of colours makes the rooms look small. To make a room look spacious, you can use whites and such lighter shades. Monochromatic tones can make a room look large.

7. Use oversized art

Instead of having smaller paintings, you can have one larger than life painting on the wall. Try and hang it at the eye level. It makes the room appear larger. Art provides a chic feel to luxury homes.

8. Introduce vertical playing spaces

Vertical activity stations for painting or puzzles is one good way to keeps the kid’s space cleaner and also make the room look big.

9. Use foldable furniture

Foldable furniture helps save more space in the room when the furniture is not in use. This enables you to use the temporary area.

10. Pocket Doors

Instead of a standard door, a pocket door slides along a track. This takes up less floor space. This also causes less obstruction as the doors open outwardly.

Avoid the hassle of breaking down the walls and use these hacks instead. Finding a luxury house in Thane is no more difficult. There is no such thing as a space crunch if you use the above tips to make your home look larger. Owing to different areas in Thane, you can use the above hacks and tips to make your luxury house look more spacious.

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 The phrase “the devil is in the details” holds especially true when it comes to interior design.

The key to creating balanced and appealing spaces lies in paying attention to the subtle nuances of decorating. Some of these tricks are so simple that they seem counter-intuitive. However, they can help create a huge a difference in the overall look of any room.

Interior decor tip #1: Play with patterns

You don’t need to stick to one pattern in a room — you can mix two or three prints harmoniously without much effort. Pay attention to the scale of the patterns — smaller, busier prints look best on compact surfaces such as cushions or tertiary elements, such as a floor rug. Bold, large patterns usually work well on focal elements with white space around them.

Interior decor tip #2: Get plants

Whether you are looking to add a statement piece or just want to fill an empty corner or table, indoor plants add depth and character to any room. Plants can add much-needed color to some rooms or bring a touch of freshness into an industrial style space. You can place plants in earthen pots, cups, mason jars or terrariums, depending on the look you want to create.

Interior decor tip #3: The small painting trick

Sometimes, a single large painting can overwhelm a space. Opt for a collection of smaller paintings, which can be arranged in clusters. If you have paintings that look too small above a sofa, hang them on either side instead of placing them in the centre. You’ll be surprised by this simple interior decor trick and how well this works visually.

Interior decor tip #4: Use multiples of the same element

Clusters of smaller objects are more visually appealing than a single piece. This is true for virtually every interior decor item — right from artwork, to cushions and vases, even pendant lights. The pieces don’t necessarily have to match entirely, they just need to look visually similar. For example, you could arrange clusters of earthen pots in different sizes, two pairs of cushions in different patterns etc.

Interior decor tip #5: Put some soul into the room

To create a truly unique look, display items that you truly love. Any room will feel incomplete without elements that speak to you — photographs, favourite souvenirs, vintage heirlooms etc. These will make the room look interesting and give you a space that is an extension of your personality itself.

Interior decor tip #6: Focus on negative space

Packing too many elements into a room tends to create visual chaos. Empty space helps define focal points across the room. Space out your furniture arrangement to give each piece enough breathing room. This will let each of your pieces shine on their own and make the arrangement work as a whole.

Interior decor tip #7: One at a time

In the urge to finish decorating, you may be tempted to buy all of your accessories and accent pieces at once. This results in pieces that do little more than fill up space and don’t really fit your decor. Instead, begin with carefully picking out two or three accessories. Add to this as you go on and only bring in the pieces you love, slowly but steadily.

Interior decor tip #8: Layer furnishings in small rooms

This simple interior decor trick will create a sense of intimacy in small rooms. Use paintings, mirrors or wall shelves to create backdrops. Tables and seating will form the next layer and usually look good when placed close together. Lastly, use rugs, bedspreads, and throws to enhance the sense of comfort and tie the entire space together.

Interior decor tip #9: Mix it up

Sometimes, it’s very easy to get caught up in the restrictive do’s and don’ts of interior design. This can make your space look bland or stereotypical, especially if you try too hard to stick to one decor style. Experiment and get creative with mixing furniture and interior decor styles. Unconventional pairings and out-of-the-box ideas can result in extremely original spaces that carry your signature style.

Interior decor tip #10: Take a picture

While decorating, it’s important to take a step back and observe your room. Whenever you are involved in doing something too closely, you can lose sight of the larger picture, especially when it comes to interior decor. Taking photographs of your space will help you analyse weak spots more easily and gain a better perspective on what you need to do next.

We hope these clever interior decor tips will help you create cohesive, happy spaces for you to live in!

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 Monsoon is the time when you can check the quality of a property as compared to other days. What may seem ordinary and beautiful on other days might be starkly different in the rains. Monsoon is usually a lean season, as not many people prefer setting out in the rains to visit sites. If you are a prospective home buyer, then you can use the downpours in your favor. Whether you are planning to buy a flat in Worli or a flat in Lower Parel, you can check the quality of constructions by visiting the site. Real estate builders in Thane Mumbai are more than keen to accommodate home buyers in the lull season of monsoon.

Here are your 3 reasons why monsoon is the best time to invest in a real estate property.

1.Opportunity To Move-In At An Auspicious Time

What follows monsoon is the festival season. This festival season is considered as auspicious to buy or invest in anything new. Monsoons is the proper time to look for a house. One you choose the house, it can be ready before the festivals for you to move-in. This is also the time when the new academic year starts in schools around Mumbai. You can search for homes nearby your children’s school for ease of commute.

2.Cheaper Loans

Monsoon is also the time where banks and NBFCs offer home loans at affordable interest rates. Potential home buyers can take advantage of this to try and negotiate interest rate charges as per their credit score.

3.Perfect Time To Scout For Quality

Monsoon is not considered as a good season for building construction. When you set out to buy a property, it might either be entirely constructed or partially constructed. This is when you can check the property for leakages, wall dampness, washroom seepage, etc. These issues are not visible during other times.

So, we hope you find the above reasons practical and consider why monsoon is the best time to invest in real estate property in 2022. All The Best!

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 A kitchen is one of the hardworking spaces in the house. A kitchen is where you have family discussions, host friends and family and hang out with them. When you enhance the organization and the functionality of the kitchen, it looks spacious and serves the purpose well. Having a spacious kitchen is the need of the hour. If you are planning to invest in any property in South Mumbai, then you should definitely look for kitchen space in it. Luxury homes have a wider kitchen with a lot of cabinets and storage space. If the kitchen in your luxury flat is not functional to an optimum level, then our ideas can be of help for you.

Here is how you can make your kitchen functional and organized:

1. The layout of the kitchen

If remodeling is on the agenda for the current layout of your home, then you should reconsider the layout of your kitchen. The typical layouts for kitchens are U-shaped, L-shaped, parallel layout, single-walled or an island design. Open plan kitchen is the new attraction for homebuyers. Such plans help you integrate kitchen in the living space. However, here you need to keep in mind the flow and access to other rooms of the house.

2. Maximize the storage

You can make the most of the corner storage and unused areas in your kitchen. Homebuyers are now interested in having stylish and streamlined solutions for kitchen storage. Think about how you want your cutlery and glassware to be displayed in the kitchen. You can add internal organizers within the cupboards. If there is a restriction of space, then you can have tall shelves and trolleys.

3. Add a magic corner

By magic corner we mean, you can add a corner with pullout shelves. Pullout shelves help you organize your kitchen by using the wasted space. You can store large pots and pans, other bulky items.

4. Put everything in its place

You can use drawer organizers to store every appliance in your kitchen. When everything has a designated place, it gets more comfortable for you to put it back in its place. For example, you can make racks for your spices. Built-in spice racks can add a stylish compact addition to your storage space.

5. Organize garbage

The best way to address trash issues is by having a separate pullout drawer for the garbage. Composting and recycling is the right way to go. You can add multiple small bins and manage the trash in an environment-friendly manner.

6. Focus on lighting

When you cook in the kitchen, you need proper light. Allowing natural light in the kitchen is a good idea, but you can add extra lights through under cabinet lights. These lights help you find what you are looking for. So, when you wake up for those midnight snacks, these lights will help you find them. LED strips are an excellent way to light the insides of your cabinets and drawers.

Having an organized kitchen is the need of the hour. Homebuyers have specific demands for each room in the house and the kitchen tops the list.

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 A home can feel claustrophobic for many reasons. Low sunlight during winter, extensively surrounded by trees and thoughtless construction are a few reasons that kill the vibrancy of a cozy dwelling. Dark corners rob a house of its life. So, living in a claustrophobic home is like a barking up the wrong tree, where you literally struggle to get the bright semblance. Most of the time dwellers tussle to maintain a positive flow of energy for better health and cheerful mood. It has been aptly said that an upbeat home keeps ambience and imagination get going. Let’s see how we can do that.

Large Mirrors and Faux Windows

A home with no windows or fewer ones gives a stifling feeling. So, it’s quite obvious that you as a dweller will suffer for airy and sunny approach. However, by installing large mirrors against walls in your guest or sitting room, you will mitigate that feeling. Install faux window decals beside the mirrors, choose soothing themes for window decals, such as entry to snow-clad mountains or a beach-side with turquoise tides, because nature in any form looks stunning. In case of a low ceiling, do not put an oversized mirror touching the ceiling as this can distract you.

Selection Of Colours

A house with abundant sunlight generally brightens the colours of the home. However, that’s not the case with a claustrophobic home. So, randomly choosing a colour scheme wouldn’t mitigate the dark influence. However, there are fewer colours that can even brighten a dungeon because these colours are highly reflective in nature. For this matter, try using high-gloss pale blue or white, whenever light falls on them from any source they reflect implicitly. If the same colours are applied onto the walls, make sure they have high-gloss properties.

Adequate Lighting

Break the suffocating semblance by bringing adequate lighting in the house. You can do this by strategically placing light items, for instance hide the lamps, in the book shelf or use a pendant light in your bathroom. Provide your kitchen cabinets with headlights. Powerful lighting in the house will eventually highlight the value of mirrors, window decals, high-gloss colour selection and a light-toned furniture.

Light-Coloured Flooring

If the walls of your home are painted in bold accents, then you must choose light flooring for your house. Whenever light falls on the light flooring, the reflection beams the overall ambience of the home. Avoid using moisture-soaking carpet or area rugs as light colours don’t absorb damp air. Not only this, light-coloured flooring highlights the placing of furniture, green plants, artifacts and your personal accessories in a valued manner.

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 Do you own a commercial shop? Follow these vastu tips to prosper in your business.

A shop is a place where people work and earn a living. Often, the success of the shop depends on the energy, correct directions, and luck of the space. Vastu Shastra, the ancient science of architecture teaches that there are a few rules that have the power to eradicate negativity and bad energy from an area, and bring luck, wealth, and prosperity.

If you have an office in your shop, follow these Vastu tips for commercial office. More often than not, if commercial shops are designed without considering Vastu, the chances of success become much lower. Follow these guidelines and tips, to gain maximum benefit from your commercial shop.

Vastu Tips For Commercial Shop Owners:

1. Appropriate Direction For Commercial Shop

For Successfully running your business, you require an appropriate direction for your shop. According to Vastu Shastra for the shop, the entrance should be in the east or northeast direction. It will help you attract more customers to your commercial shop.

Shop specific directions as per Vastu –

• Stationery shops: Stationery shops should face the west direction. West signifies fulfillment and gains, leading to greater profits.
• Furniture shops: Furniture shops should face the south, as this will give your brand fame. Fame and name will enable you to attract loyal customers.
• Grocery shops: As per principles of Vastu, the northeastern direction is the best for grocery shops. As a second alternative, east or north can be considered.
• Clothes shop: The ideal direction for clothes shops is the southeastern direction. If you want to sell high quality and luxurious brands, the shop entrance should be in the southern or southeastern direction.

2. Cash Counter of Your Shop

The cash counter is present in every shop, and it should be placed in such a way that it opens towards the north. The cash box should have some cash inside it at all times, as an empty cash box indicates misery. If you put idols of Lakshmi-Ganesh in the cash box or locker, make sure to worship it everyday. If the locker is placed in the south-west direction, then the room’s entrance should be in the northern direction.

3. Picture of Your Lords And Deities

Pooja room or location of your deities in your shop is very important for Vastu. According to vastu, the direction of the pictures or statues should be in the north-east, so that you get strength and spiritual satisfaction. The day should be started with a prayer and the lighting of a mild incense stick for good vibes.

4. Placing Raw Materials of Your Store

Raw material related to your business should be kept properly, and requires a lot of care. The heavy stuff and raw materials should be placed in the south-west direction of the store, as this can bring good luck.

5. A Place For Electronic Equipment

Electronic items in your shop should have an appropriate location to not hamper your business. According to Vastu for the shop, if you need to keep electronics bring prosperity by placing raw goods in the right place inside your shop’s premises, they should be placed in the south-eastern corner to enhance sales.

6. Entrance of Your Shop

According to Vastu, the entrance or the main door should be in the North, as it brings more positivity. The owner’s position of sitting should be either in the East or North Direction. The entrance should be given a lot of importance, as this is the first thing that attracts more business.

The entrance must be clean, clutter free, and wide, as it is considered to be a welcoming sight for customers. The entrance should be free from all obstructions like trees, statues, poles, and products. Avoid having any drain flowing in front of the entrance as it causes loss of wealth. Also, avoid stagnant water or door sills, as this allows easy flow of positive energy.

7. Shape of The Store

When it comes to making professional decisions, the shape of the shop plays an important role. According to Vastu, the commercial shop or showroom should be square or rectangular shaped. The shops should not be triangular or irregular shaped, as this can cause irregular income and gains.

Also, the front of the shop should be wider than the rear, as this will otherwise cause mental tensions or/and financial losses.

Avoid having a slope in the shop, as it is considered to be inauspicious.

8. Lightweight Objects Placement

The showcase of regular or daily use small items should be facing the North or the East direction, especially for grocery stores.

The items of regular and daily sales must be kept in the northwestern part of the store. This is said to boost sales.

Medical shops should keep Ayurvedic Medicines in the north and the east direction. The southern direction is best for Allopathic medicines and medical equipment.

9. Placement of Mirrors

As per Vastu, mirrors are an important part of interiors of a commercial shop. Most shops have large mirrors, to allow the customers to see how the products look on them. A mirror doubles the size of the area in which it is placed, as it reflects the zone. The location should be selected with a lot of care. If there are certain areas or corners that are already extended, placing a mirror in that area will further extend it, causing energy imbalance.

Also, due to their reflective properties, mirrors are symbolic of the water element. Thus, it is important for mirrors to be placed in relation to the water element- in the north, northeast, or west direction. Mirrors should never be placed in the fire zones, and the south and southeastern direction must be avoided.

10. Mild Music In Your Store

According to Vastu Shastra, mild music played in shops is a good way to keep negativity away. It will create positive vibes, and makes everyone happy.

11. Keep Your Store Well-Lit

It is necessary to have good lighting in the store, since dark corners and areas in commercial shops breed negativity.

12. Don’t Keep Your Shop Dirty

According to Vastu tips for the shop, you must keep your shop neat and clean. A dirty shop looks bad, but also attracts negative vibes, which lead to low sales and reduced earnings.

13. Tree or Pole In Front of Your Store

It is considered inauspicious to have a pole or a tree in front of your store. It can create disturbances in your business and sales. So avoid opening a shop in front of a tree.

14. Seating of The Shop Owner

The shop owner should sit inside the shop, and should face the east or the north direction. Sitting in the correct place attracts better business opportunities, and stimulates expansion. The owner should never sit facing the south or the west, as it can cause problems in the business. The cashier should sit in the southeast direction.

15. Water Fountain Placement

A unique way of attracting customers is to decorate it in new and innovative techniques. Vastu suggests that water fountains should be kept in the northeastern direction. This direction should be clutter-free, as it is considered to be bad for business.

16. Vastu Colours For Shop

According to Vastu for the shop, Vastu colours that are ideal are soothing and light colours. In a shop, you must keep the ceiling a lighter shade than the colour of the walls. As per Vastu, colours like brown, dark blue, or black are considered inauspicious. Instead, you can opt for colours like white, off-white, or silver white in the east, north, north-east, and southwest direction of the shop. Such soothing Vastu colours in the right Vastu direction for the shop can help maintain financial stability.

17. Vastu For Mandir In A Shop

The ideal Vastu direction for mandir in a shop is the northeast direction or east or north corner of the shop. To earn high profits you can even consider the west direction. You can also have the auspicious swastika in the shop written with shubh-laabh. Ensure that you do not keep the Goddess Lakshmi and Lord Ganesha idols to the right of the northeast direction. Every morning light a Diya and burn incense sticks in the shop to bring positive energy.

18. Vastu For Purchasing A Commercial Shop

When purchasing a new commercial space, the first thing to consider is the locality. Avoid a shopping complex or commercial building near a temple, graveyard, hospital, police or crematorium. Another important point to keep in mind is there should not be a large tree or any electrical transformer at the front side of the shop/store/building.

Other General Vastu Tips For Shop To Follow:

• The owner should take care to maintain cleanliness and hygiene. Any unused items or electrical items like bulbs, machines, and switches that are not working, should be repaired immediately.
• The shop can be decorated with small plants as these are considered to be pleasing and adds positive energy into the shop.
• Vastu principles state that the shops should not have thresholds. Also, there should not be a downward slope in front of the shop, as this brings inauspicious energy.
• The shop should be of regular shape and size; irregular shops bring a lot of negativity and loss to the shop.
• The shops should not have photos of wars, crying women, and violent animals, as this creates disturbance and havoc.
• The shopkeeper should keep an aquarium with golden fishes and place this in the north or east direction.
• If the shop’s shutter is rusted, it should be painted and oiled as soon as possible.

Summing Up:

Earning money and being prosperous is essential for a good and healthy life. Sometimes, there are obstacles in the business. Follow the above Vastu tips for shops to get rid of all problems and obstacles in the business. Most of these tips are extremely easy, and require only minimal changes, but the impact is massive. Vastu tips for shops help in selecting the best directions, designs, and space arrangements.

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In the backdrop of growing competition, one of the biggest dilemmas that modern-day entrepreneurs face is whether to opt for an unfurnished office space or a furnished commercial set-up. However, experts believe that the size of the business should be a critical deciding factor for leasing out an office space.

While unfurnished offices assure lower rentals, the cost of setting up the space might be financially draining. Similarly, though furnished offices are appealing and immediately available for use, their average leasing values may be too high to burn holes in a pocket. Since choosing between a furnished and unfurnished office space remains a potential hassle for entrepreneurs, experts assert that the size of the business should be the determining factor.

According to Sidhant Lamba, Founder, Fabrento, “In the commercial world, everything boils down to the business size and the investment ability of the entrepreneur. While both unfurnished and furnished spaces have their pros and cons, it is essential that the owner evaluates the expenses and compares them against the budget to arrive at a feasible solution. For instance, it would be cost-effective for a start-up to lease a small office and rent minimalist furniture or opt for coworking space. On the contrary, a bigger firm may either opt for a fully-furnished space or can lease an unfurnished space and get it customised as per the needs, requirements and goals of the business.”

Here are a few Pros and Cons of Furnished and Unfurnished for better understanding:

Advantages Of Furnished Offices

Fully set- up

A fully equipped office space allows you to immediately take possession and begin work without impacting the business operations. Besides, it lends a more professional and dynamic setting, which renders a significant boost to your company’s productivity and image.

Saves time

It is important to consider every little aspect while shifting the business to a new place. Right from the location to the cost involved in the acquisition of furniture, everything should be well-calculated. Even the simplest of tasks such as choosing the right style of furnishings, ordering them and receiving the delivery can take several weeks or even months. However, renting a furnished office space eliminates the waiting around and time wastage. This is more effective for bigger firms where the workforce is vast, and even a day’s delay in operations can significantly impact their turnover.

Disadvantages Of Furnished Spaces

High leasing values

One of the biggest downsides of furnished spaces is high leasing values. The average rentals of furnished office spaces are 40-50 percent higher than the unfurnished spaces. Since these offices are equipped to cater to the needs of different tenants and incorporate all the amenities, their leasing values are generally higher. “The average leasing prices can go as high as 60 percent more depending upon the location of the office. Centrally located office spaces are pegged higher than the commercial developments in the outskirts owing to the higher land rates in the city-centres.” shared Zakir Hussain, Property Agent, Topend Realty.

Increased liability

In the case of any accidental damage or any other loss to the property or the interiors, the tenant would be held directly responsible, and the landlord has the complete right to recover the cost from the security deposit provided at the commencement of the deal.

Advantages Of Unfurnished Offices

More flexibility

Unfurnished spaces offer the convenience of customisation. The tenant can design the interiors in accordance with the business goals and render a more personalised touch to the area. It also allows the tenant to add and remove the furniture and other amenities as per the business needs. Moreover, there is a wide range of furniture and other office decor items available on rent; thus, you need not worry about investing a fortune in buying furniture.

Lower rentals

As stated above, the average cost of unfurnished spaces is approximately half of furnished spaces, which makes it a convenient option for businesses yet to attain the break-even point. Coworking arrangements can also be a viable option for start-ups. However, the average leasing cost of an unfurnished space is 10-15 percent lower than the coworking spaces. Furthermore, coworking spaces pose restrictions on the usage of amenities such as conference halls, tea-zone and others. Shorter lock-in periods, typically three months, is another hassle with coworking spaces which make them inappropriate for firms which intend to operate at a specific location for a longer duration.

Reduced liability

Apart from the maintenance cost, unfurnished office spaces do not impose any other obligation on the lessee. Unlike the furnished spaces, here either the furniture is hired or purchased; therefore, no additional cost is deducted in case of furniture damage. Also, in the case of purchased furniture, it is an asset, and you can get it transported to the new place of work when vacating the office.

Disadvantages of unfurnished offices

Unfurnished offices are leased out as bare shells. Right from the electric wiring to set up the workstations, the entire work has to be managed by you, which not only involves time but might impact your business as well. In such a situation, it is advisable to lease out a new office and get all the upgrades done before leaving the previous place of work. Though, it can be slightly costlier at the start since you have to pay rent for both the offices, the cost will be one-time and can be recovered in due course.

While the advantages of unfurnished offices outdo furnished spaces, the decision of renting the office space should ideally rest on the business needs and prospects. Evaluate the expenses and anticipated returns, and lease a space that can be sustained for the long term. Renting a high-end space for a few months to lure customers and then moving to a smaller office can have a negative influence on your business.

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You may have been handling other issues when your young friends were investing in property; your responsibilities were different. However, now that you must have a house as you have retired from your job, you are finding it hard to manage the funds. Property prices are, after all, sky high.

However, by saving money on several accounts, you may be able to find a dream home within your budget. Here we have lists some ways in which you could manage your finances, when planning for your retirement dream home:

The Size

Typically, your retirement home would house only two people, you and your partner. This is why it is suggested you opt for a smaller configuration. This would help you keep the budget low. A smaller property means you will have to pay less. Apart from that, maintaining a small home would cost you less, when compared to a bigger home.

The Location

The location of a property decides how much you will pay for the purchase. For a senior citizen, it is advisable to opt for a locality lying away from the hustle-bustle of the city life. This would help you in two ways. While such a property would come cheaper than a property in the city centre, it would also provide you a healthy environment to live. Make sure that the project in which you are buying the property offers facilities that would make it ideal for a senior citizen.

Count The Extra Out

Though buying a home in the outskirts could be a luring prospect, living outside the city could cost you more if you have to often travel to the city. There could be many other factors that may add up to the overall house purchase bill. Before you start looking for a home, do a detailed study of your requirements and try to save as much as you can.

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