The new age home buyers are tech-savvy, appreciate fine living, and are high-income individuals who prefer a luxurious blend of extravagant house designs with modern amenities. To cater to their altering requirements aligned with the latest home interior trends, modern home buyers always look out for homes, designed with thoughtful and practical features, providing them with all the facilities they need. Considering the customer’s evolving preferences in making homes more personalized, real estate developers constantly endeavor to include unique features to fulfill customers’ needs, wherein the Modular Kitchen feature is gaining utmost popularity.

The real estate industry has made modular kitchens a standard inclusion due to the growing popularity of these types of kitchens among today’s younger generation. Today, a housing property is designed with pre-installed modular kitchens, high-tech amenities, and contemporary interior design. Let’s take a closer look at some of the factors responsible for the growing demand for modular kitchens in the real estate sector. 

Ideal for all properties:

Modular kitchens are suitable for all kinds of properties, no matter the size of the apartments, whether they are small and compact apartments or luxurious duplex apartments. They are designed and installed according to the size and shape of the property and customers’ needs. Hence, they are ideal for all types of properties.

Hassle-Free Cooking Experience:

One of the most hectic tasks involving household chores includes meal planning, preparation, and storage. Kitchen work can become extremely overwhelming with a lack of planning and organization. The customized approach involved in setting up a modular kitchen helps provide a hassle-free cooking experience as the kitchens are designed keeping in mind the frequency of kitchen use, food cooking preferences, and family size. 

High Durability:

Modular kitchens are manufactured using high-quality materials including waterproof and boiling waterproof features that essentially contribute to enhancing their durability. These kitchens are also prepared to withstand the regular wear and tear of kitchen tasks, hence, this can be considered a great investment in the property.

Built-in appliances provide a stylish touch:

Modular kitchens provide an option to arrange a dedicated and customized space to install built-in equipment which also enhances the overall aesthetic of the kitchen. Today, a kitchen design trend of providing hidden cabinets is catching up wherein bulky structures can have their dedicated hidden space in the kitchen such as water purifiers, microwaves, food processors,s, etc. Such trends not only boost creativity and innovation in the kitchen space but also significantly contributes to enhancing kitchen appearance.

Space Organization:

Modular kitchens are specifically designed to provide better and more efficient storage. These kitchens provide a variety of design ideas to organize the kitchen space and provide sufficient space to arrange the necessities without making the room seem crowded. Today, kitchen corner space utilization designs are becoming popular amongst customers as they help make optimum utilization of the kitchen area. 

Smart storage concepts, personalized space design, and space management ideas are some of the key highlights of a modern modular kitchen, due to which there is a growing demand for modular kitchen concepts amongst customers.  Also, the growing number of partnerships between real estate developers and modular kitchen manufacturers is one factor that is expected to push the demand for modular kitchens in the coming years.

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MUMBAI: The GST-Authority for Advance Rulings (AAR) Karnataka bench has ruled that the goods and services tax (GST) is not applicable on the sale of plots, even if the plots are sold after basic necessities-related works have been completed (such as land leveling, installation of sewage lines, et al).

The land has always been clearly exempt from GST. GST is charged. However, a never-ending battle erupted over whether the sale of plots following basic development is subject to GST. This case is nearing its end.

“This advance ruling is in response to the circular issued by the Central Board of Indirect Taxes and Customs (CBIC) following the GST Central Council meeting on August 3,” Harpreet Singh, indirect tax partner at KPMG-India, explained. This circular states that even the sale of plots after some basic development is considered a sale of land and is exempt from GST. However, services used to develop the land, such as land leveling and drainage line installation, will be subject to GST. The CBIC’s clarification and this advance ruling clear the air on the application of GST to land sales.”

Plots are typically sold to individuals for the purpose of constructing their own homes after the seller has completed some basic development (land owner). In this case, Rabia Khanum, an unregistered individual under GST laws, attempted to convert her land on the outskirts of Bengaluru into a residential site. The land will be developed in accordance with the District Town and Country Planning Act, she stated.

Land development entails laying of electricity cables, water pipes, sewerage lines, drilling of bore-wells, setting up of a power substation, and obtaining a connection from the electricity board.
The authorities would not grant permission to sell plots to individuals for house construction unless these basic necessities were met.

She sought a response on whether GST was applicable on the advance received/sale consideration for such sites, as well as whether GST would apply on the ‘sale of plots after completion of works related to basic necessities,’ and received a favorable response that it was not.

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With developers leaving projects unfinished and a lot of people not getting the possession of their house on time, Indians nowadays have been highly careful when it comes to buying a home. Because of Amrapali and other cases in the past, people have lost confidence in developers and are reluctant to bring their money into under-construction ventures as they are afraid of not having their house on time.

Housing is a basic necessity, but, when planning on investing in real estate, citizens are still unsure whether to purchase a ready-to-move-in house or buy a property under construction.

Let us look into the advantages and disadvantages of buying a ready-to-move-house in 2020.

Advantages:

If you are an NRI investor looking to purchase a home to receive rental income, purchasing a finished house lets you quickly start renting the property and receive returns without delay. Another advantage of a ready-to-move-in house is that homeowners do not pay GST.

Note that 5% GST applies to under-construction properties for new developments begun after April 1, 2019, charged over and above the valuation of the property. This means you’ll have to pay Rs 3 lakh as GST if you’re purchasing an under-construction property priced to claim Rs 60 lakh. This GST will not apply to a ready-to-move house, reducing the total cost.

Disadvantages:

If you invest in a ready-to-move property, the end customers barely have any scope for modification. The investor is pressured for options because inside the house there are very little chances of modifying something. It may include living spaces, appliances, or some other configurations inside the house.

It’s no mystery that ready-to-move houses or those near to completion are more costly relative to under-construction projects. A ready-to-move-in house may sometimes cost up to Rs 5 to Rs 7 lakh more.

Conclusion:

Although the expense of a ready-to-move house is certainly higher, it is really easy to cover the gap. Most developers still today give discounts on a ready-to-move property such as waiving stamp duty and registration and freebies such as modular kitchens, basic fittings and allocated parking space etc. Apart from this, if you wisely pick a well-connected spot, you can anticipate a decent rental income that will justify the extra money you’re paying for a ready-to-move house. 

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On 21^st January, the Bengaluru-based Embassy Group has entered into co-living space and plans to build six such buildings in Bengaluru and Chennai.

They are planning to widen there co-living brand Oliven to Hyderabad, Mumbai, Pune and Delhi-NCR. Initially, 20,000 beds space is being launched, starting from Bengaluru (15,000), Chennai (2,500) and Pune (2,500) and the company is also open to tie-up with landowners in order to establish co-living centres.

“We are aiming to launch this year the development of 5-6 greenfield co-living properties, with a capacity of between 5,000-10,000 beds,” the company also added that price would vary from Rs 10,000- Rs 20,000 per bed.

This year, in the heart of Whitefield, Olive is going to start its first experiential centre in Bengaluru and its 2,500 beds flagship project in Chennai.

The plans for expansion include Bengaluru, Hyderabad, Mumbai, Pune and Delhi NCR with a goal of taking the brand globally over the coming years.

Bengaluru’s projects include large facilities in the Manyata Business Park Embassy and the Techvillage Embassy, in Pune areas like Magarpatta and Hinjewadi and in Chennai OMR area.

Olive by Embassy projects will range from 500 to 5,000 rooms and will be tailored to suit the respective markets in various formats and are competitively priced.

“There are over 36 million higher education students and migrant millennial populations are growing rapidly over metros. Olive by embassy aims for the enhancement of the standard of living for this sector by providing hospitality services and an ecosystem to support young people from our country in their professional and academic pursuit. In addition, our non-living projects will complement and add value to our large tenant base at our Embassy Office Parks,” said COO of Embassy group and Co-founder of Olive, Aditya Virwani.

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As towns are getting populated and it makes living so congested the state government has planned to reduce basic Floor Space Index also known as FSI by 50%. This rule is majorly for commercial, mixed-use and industrial plots in unified development control regulations (DCR). They say that FSI of big residential plots can also come down to a certain extent.

A notification by state’s urban development department has been passed on to unified DCR recently. They have also given 1month of time frame for any suggestions or objections.

Previously, the basic FSI for the commercial plots was 2.5 for all parts of the city which have now come upto 1.25 for all municipal corporations excluding Mumbai, municipal councils and municipal panchayats.

There is no input for a premium FSI and loading of transferable development rights (TDR) on commercial plots in the notification. Mixed spaces (commercial and residential) were having FSI of 2 which is going to be reduced to 1.1 in unified DCR and will come at par with residential FSI. Standard FSI of 1.1 for all type of residential plots will be announced which was previously differentiated between plots below 1,000 sqm and above 1,000 sqm for congested areas.

Premium FSI for residential and mixed-use is assumed to be the same as  0.3 to 0.5 and TDR of 0.4 to 1.4. No comments have been received for FSI for residential and mixed uses in congested areas in the city.

Anil Nair (President of CREDAI) said they are going to oppose the changes done in FSI. Also, he says “Builders and associations of different cities are upset with provisions in unified DCR”.

A great question is been raised by Architect Ashok Mokha who argues that DCR is already prepared as per the Development plan (DP), then how can the government come up with DCR before finalizing DP.

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Be it a high-rise apartment in the suburbs or a bungalow in a quiet corner of the city, Indian homes always reflect an elegant look a vibrant presence. When it comes to interior decor, Indian homes are based more on the rich heritage. With time, Indian home owners have also adapted the innovative, and inspiring designing concepts to make their homes more appealing to both themselves and anyone visiting them.

In this article, we will cover some of the best Interior designing ideas that you can use to give your home a look that exudes both modernity and tradition. Right from storage solutions to take care of extra stuff to elements that will make your home space seem larger, below are the top 10 interior design ideas to make your home stand out from others;

1. Colours

In order to make the available space at your home appear larger, it is recommended to use light colours such as white or cream. Do not choose darker shades as these would make your home space appear less. We recommend that you choose rich brown or light yellow for the walls and floors.

2. Dividers

In case you are living in a home with lesser space, we recommend that you utilize wooden dividers to mark spaces. These can be used for separating the living and dining room in your house.

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1. Wall paint- Paint is one of the most important choice and it is reflects one’s personality in a major way. Light colors works wonders for making the home look bigger as dark colors dim the reflection of light crossing across the room and creates a gross impression. Shades of creams, yellows and light greens are some of the all time favorite for designers. Use wall decals on the colors and prints avoiding too strong and over doing it.
2. Home Furniture – home furniture is the next important element in making of a home and placement of it in room management. Downsize the use of furniture using recliners, bean bags instead of long sofas and couches.
3. Try multipurpose coffee tables and ottomans- do not too many sofas to make the living room small. Try multipurpose small tables which are handy, decorative and can be easily re-arranged. This will not make you feel heavy as soon as you enter the room and the weight equally spreads in the whole direction.
4. Work around the layouts – play with your walls, windows and doors that come into play, simple strategy is too not put heavy things like too many paintings, heavy brocades paintings, soft and small rugs on the floors. Make things easily accessible do not cater lot more of stuffs in the hall room or bedroom to get handy. Clear the space by not keeping daily items.
5. Incorporate the Built –in spaces – book shelves, benches, slide out tables, bars, armoires and other integrated components can do lot of work for replacing the furniture.
6. Make use of corners & crannies- the corners of the house go unnoticed and unused many a times, make use for using small boo tables, cabinets, night lamp stands, cost hangers etc.
7. Lights – selection of lights can do the trick and should end up being always smartly. Colored lighting will be fashion like red, green, pale yellow are few trend colors that are used on large scale for decorating the house. A medium or small chandelier in the centre of your wall structure will generate comfy ambience. Candles stands in the room, wall accessories that don’t consider flooring space are ideal for rooms require more spaces.
8. Use Mirrors- mirrors are of great help in many ways if you want more visibility. They give feeling of clutter free areas.
9. For specifically bedrooms do closet re-organization, keep all the items off the floors, use more of wall hanging items for storages, under bed storages, light curtains with medium paints, use shelf instead big desk.
10. For Kitchens – use of cabinets and fixtures in the kitchens gives more space appearance. Don’t make too big platforms instead use big sinks. Color light and make use of upper cabinets to use the maximum space.
11. Bathrooms are neglected area of any home usually as it used only for specific purposes but today bathrooms are given much attention to make it look more stylish and appealing. Use lot of mirrors for creating more space, make shelves for keeping the toiletry products, and put the tankless toilets, use of small shower.

These are some of the small and innovative creative ideas to be incorporated to make the Home look beautiful, trendy, and spacious and appear nice.

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