New trends in False Ceilings

Ceiling Trends

Luxury has no limits, especially when it comes to your dream home, your private castle, the lord and king of all that you survey. With the economy on a yearly rise, the earning capacity of young Indians is also going up. And for those who know what luxurious living is all about, homeowners are ready to spend more and more in their quest to create the most perfect and stylish look.

False ceilings are the current rage and you don’t need to go to fine hotels anymore to enjoy the elegant beauty of false ceilings. Real estate builders are providing this feature into their luxury home projects that are being grabbed by homebuyers like hotcakes. After all, everyone wants to live in the best that money can afford.

For those not in the know, false ceilings are an additional layer of artificial ceiling added for the purpose of glamorizing the home’s interiors. More people are now opting for this feature, even those who are renovating their old homes are looking into ways to introduce this elegant feature. And it’s not just the magnificent look of the false ceiling that you get to enjoy, but other environment-friendly benefits too. The false ceiling helps to keep your house cooler and cuts down on your electricity bills; it also improves the acoustics of the room, creating a more private atmosphere. The best part is that you can use this elegant façade to hide exposed wiring, cables and ducts.

There are different kinds of false ceilings depending on the materials used as well as the method of installation. Most interior designers offer the single level, straight line false ceilings with minimalistic designs and just some LED lamps as embellishments. Some of the false ceiling types trending now include:

Drywall ceilings 

The beauty in this conventional type of false ceiling is its simplicity. These types of ceilings are typically 8 feet high and are basically a plain flat surface that the homeowner can decorate according to their taste.

Tray ceilings 

This design has the unique ability to make smaller rooms look bigger. It is flat-surfaced, with a recessed inner rectangular center, creating a two-layered elevation. They create greater impact when used in the dining room or kitchen. Lights are usually added in-between the two levels for a magnificent effect.

Wooden ceilings 

These wooden ceilings take you back to the retro trends of years gone by. The wooden texture adds an immeasurable luxury quotient to the room’s ambience and goes well with rustic-themed homes. You can add to the elegance by including chandeliers or pendant lighting.

Coffered ceilings 

In the earlier days of grand living, they were made of expensive wood or carved stones that increased the grandeur of a home. A coffered ceiling is made up of tiles or panels that fit into a suspended grid. These panels can be carved or designed to add further beauty to the room. They are best used in large living areas, creating an atmosphere of opulence and grandeur of bygone eras.

Suspended ceilings 

Also known as drop ceiling, they are essentially a metal grid ceiling suspended from the main ceiling. Lightweight panels, usually made of POP are inlaid into the grid to create acoustic ceilings that are very functional in homes and offices alike.

False ceilings are the current rage today for their exotic appeal that increases your homes luxury value – time to go get your own ceilings fixed-up too!

Increasing Demand for Luxury Apartments

Luxury Apartments

The earning capacity of people is increasing and with the world getting more globalised, people are also becoming more aware of the finer things in life. After all, who wouldn’t want to live in the lap of luxury, if it’s easily available! And with banks bending over backwards to offer home loans at attractive rates, the younger population isn’t waiting anymore to save a decent nest egg, but are going ahead by taking home loans and buying the homes of their choice and living in the moment.

Real estate builders are also aware of this demand for luxury apartments and are going out of their way to include more and more of luxurious fittings and amenities to indulge their discerning clientele. There is no limit to luxuries a builder can include into their apartment complexes and have the customers satisfied. Traditionally, luxury had meant a prime location with good social infrastructure and amenities like swimming, and a kids’ corner. Currently, there are the super-luxury apartments for the millionaires, then the luxury apartments for the nouveau riche and finally luxury apartments for the IT-rich which are usually located around the IT parks.

To cope up, residential builders are bringing in the latest technologies, impressive architectural designs and an increasing use of smart-home devices like light sensors, motion sensors, digital locks, video and audio door phones, etc. They are also into collaborating with internationally acclaimed, foreign architects and designers to boost the star status of their projects. A plethora of world-standard amenities that are at once exotic as well as very useful are now available; this is aside from the fact that staying in such luxurious apartments makes a statement about your own social standing in the society.

Some of the amazing amenities that you would find in modern-day luxury apartments include private swimming pools on apartment terraces, jogging tracks on the apartment rooftops, shopping centers and beauty parlors within the apartment complexes, piped gas, in-house mini theatres, concierge desks, air-conditioned gymnasiums, indoor gaming areas, in-house crèche, etc. Living in luxury apartment homes that offer such fabulous amenities is almost akin to living in exclusive hotels for a lifetime…

These luxury apartments are usually very spacious and come fully loaded with top-quality branded interior fittings and décor that often uses imported materials. You can find apartments with Italian marble flooring and luxurious European bathroom fittings that all work in tandem to increase the desirability of these exclusive projects, offering the lifestyle of the cream of the society.

Luxury home sales have been on a rise in India – with the country having the fourth largest population of millionaires and an estimated 2.36 lakh people living in the High Net Worth category. Aside from this, Forbes publication of the ‘World’s Billionaires’ for 2017, shows that India has 101 billionaires too! With so much money available in the country and the GDP set to grow at a higher percentage for the next fiscal year too, it’s safe to assume that wealth creation is only set to rise further in the country over the next decade or so.

And since people spend more on luxury only when they are sure of their future earning potential, the outlook for luxury homes is only slated to go up higher. And India’s real estate builders need to be prepared for offering more homes in this segment in the near future.

Documents required for Home Loan

Home Loan Documents

 

Everyone dreams of having a home to call their own. It could be a small house, a big house, an apartment, villa or even a hut! It’s the satisfaction of owning the four walls in which you sleep each night that matters. However, homes don’t come easy on the pocket and it takes quite some time to save a large enough nest egg to enable you buy one. Alternatively, you could wisen up, and take a home loan instead to pay for your home, as homes are getting more expensive with every passing year. And paying back the money isn’t too difficult either as you can stretch out your repayment to the bank in easy monthly installments spread out over a decade or two.

Before settling on a bank for your home loan, you need to first shop around for a bank that gives a comparatively reasonable interest rate and low processing fees. Different banks have different protocols when it comes to disbursing home loans. However, there are a few basic documents that you must have in hand when applying for a home loan.

A checklist for these documents should include a photo ID proof – a driving license, passport, PAN card or Voters ID will do. Next document would be an address proof; electricity bill or better still, a registered Rent Agreement would do very well. An employment letter might also be required by some banks, especially if your current job is less than a year old.

The financial documents required by the bank include a 6 month bank statement from your primary bank, salary slip of the past 3 months for salaried individuals as well as proof of tax payments for the past 2 years (Form 16). For self-employed non-professionals, Income Tax return for 3 years is required plus computation of IT returns certified by a registered chartered accountant. Most banks will also request for a separate loan processing fee check. All these are very important and requested by all banks and financial institutions as a pre-requisite for loan agreements.

For self-employed professionals, additional proofs of existence of business as well as office address proof are a must. Property documents or utility bills can suffice as office address proof. To be eligible for home loan, a self-employed professional should provide 3 years old Saral copy as well as the company Registration License. For income proof, the last 3 years Income Tax returns along with Computation of Income, Profit and Loss account, Audit report, Balance Sheet, etc, will do. Some banks might additionally ask for an Educational qualification certificate.

When taking a home loan, the collateral is usually the property which you are using the loan to buy. Alternatively, the loan can be taken against some other asset or property. Since collateral is being used for the loan, you might wonder at the reason behind the need for an income proof. After all, if there is a default in the repayment, the lender can easily take over the asset in accordance with the loan rules. But it’s not easy selling off the collateral property; hence the bank needs to have proof of a steady flow of incoming income to pay the EMIs.

The average bank takes about a week to disburse a home loan after their surveyor has gone over the property you are planning on buying, and should ideally send you periodic updates and statements as after-sales services.

 

Advantages of Buying an Apartment

Apartment Keys - Favourite Homes

 

Home-buying is serious business and something that most people do just once in their lifetime. This makes it all the more reason why you need to be extra vigilant when investing your hard-earned money. There are numerous types of homes available these days making the homebuyer spoilt for choice. You have a choice of apartments, villas, villaments and independent homes.

Though the traditionalist naysayers will always be there shaking their heads in disapproval, apartments are the best option today when it comes to buying a home. But don’t just go into that decision blindly, take the opinion of others, and weigh the pros and consequences in your mind, and then decide.

Since apartments come in all sizes, you can buy the size that suits you and family’s needs. It’s not just the size, but the standard of the apartment that come in varying levels too, with the designing, fittings and amenities being some of the deciding criteria. Apartments are great for small families with growing kids. The community atmosphere and the easy availability of friends of similar age groups provide lots of friendships for your children; well, not just the children alone, as parents also get to make lasting friendships with other occupants of the building.

Apartments come loaded with amenities including gyms, swimming pools, indoor gaming area, children’s play park, badminton courts, barbeque pits and in some cases, even a mini theatre! Installing these features into a villa or independent house would dig quite a deep hole in your savings, if you had to do it alone; but their easy availability in apartment-life makes living here invaluable.

Aside from these amenities, there is the all too important feature of a multi-tiered, 24×7 security system available that keeps you and your family safe in your absence. With many people having jobs that require frequent travelling, apartments suit them the best as their homes and property remain secure in their absence.

There are numerous other perks to apartment living including designated parking spaces, power back-up, alternative water supply back-up, reticulated gas, fire safety mechanism, etc. The best part is that you don’t have to go out and queue up in dusty government offices to pay the bills for these facilities.

And then there is the major question of property maintenance; while in an independent home, you will need to make all the effort to get someone to fix your problem, in apartments, these problems are taken care of by the caretaker committee. You can also enjoy the beauty of the manicured gardens and lawns without having to struggle for their maintenance too.

An added feature is that apartments are available throughout the city area and not limited to city fringes due to space constraints. This way you can get to choose the apartment that’s closest to your workplace or the kid’s schools, without having to move away from all the facilities available in the city center.

While all the above are very relevant points, a glaring fact is that apartments are always cheaper by almost one-third the cost of independent homes and villas, even when they are luxury apartments. So a major advantage with apartments is that they aren’t so heavy on the pockets, and you still get to have your own four walls to call a home.

So taking all this into consideration, looks like apartments come out tops when buying a home!