Advantages of Living in a Flat

Flats or apartments are essentially self-contained housing units that occupy only a single part of a larger building or complex. Flats are usually a part of a larger residential or housing complex or building. In recent years, this type of housing has become extremely popular, particularly with the younger generation. Unlike their parents, who preferred independent houses and villas, millennials by and large prefer to live in flats or apartments. This trend is particularly noticeable when it comes to large cities and developed urban areas where there is a majority of the new constructions consist of apartment buildings or complexes.

Some of the reasons for the growing popularity of flats are as follows:

• They are more affordable than independent houses or villas.
• In the busiest parts of a city, flats are more readily available than independent houses.
• They are usually smaller and hence easier to maintain.
• They are perfect for nuclear families, which are the norm in the modern world.
• They provide residents with a pre-existing community of like-minded neighbors.
• Flats offer many state-of-the-art amenities and facilities not provided by independent houses.
• They provide greater security and innovative safety features.

Therefore, it is clear that flats or apartments provide a number of benefits that cannot be availed when it comes to independent villas. So it is no surprise that many people in the modern world opt to buy flats instead of a villa. If you are planning to invest in a flat, you must first ensure that it is a premium property and has all the important amenities that will make your life comfortable and convenient. Some of the essential amenities of a good flat are as follows:

• Hi-tech, round-the-clock, electronic and manned security.
• Safe and spacious parking facilities as well as adequate visitors’ parking space.
• Open and green areas in the surroundings.
• Recreational spaces and amenities such as joggers trail, tennis and badminton courts, sit-out plazas for senior citizens, swimming pool, children’s play area, etc.
• Unhindered, round-the-clock water and electricity supply.
• Environmentally sustainable features such as rainwater harvesting facilities.

Therefore, if you would like to buy a flat in Mohali, Chandigarh, or any other north Indian city, then you should definitely contact a reputed property developer or real estate company operating in the area.

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Reasons that Make Living in Mohali a Good Idea

Today, when you think about purchasing property in the northern region of India, you automatically think about Mohali; and for good reason too. After all, the city is steadily becoming a destination for industrial, cultural, aesthetic, residential, commercial, and recreational development. If you need any further proof why you must buy residential property in Mohali when you have the chance to do so, here are a few reasons:

The rise of the IT sector

Mohali is the center of many regional head offices, including telecom companies and manufacturing units. In addition to this, the emergence of IT companies is also at an all-time high. Infosys, an IT giant, is setting up a 50-acre campus at Knowledge Park. This campus, it is said, will open up job opportunities for about 5,000 employees. This surely proves to be a positive in the employment sector.

You can easily find many affordable residential area options

Owing to the fact that the city comes with plenty of 2BHK and 3BHK flats for sale, it is no surprise that Mohali is soon becoming the first preference for many real estate investors and buyers. What’s more is that these residential areas come at affordable prices. Community centers, schools, and supermarkets are in close proximity to these residential areas, while most of the structures are earthquake resistant.

A growing education and health hub

The Indian Institute of Science Education and Research (IISER), the Indian School of Business (IBS), the Army Institute of Law, and the National Institute of Pharmaceutical Education and Research (NIPER), all are in Mohali. There are a variety of health institutes being developed in this city too, making it the center for educational and health-related growth.

Systematic planning

Massive funds have been allotted for infrastructural development and its related activities. This is why facilities and amenities such as round the clock water supply, power, wide freeways that reach Chandigarh, and an advanced interstate bus terminus are underway.

Given these reasons, it is no surprise that people are flocking to purchase residential property in Mohali. It has the best of everything within arm’s reach, be it educational, industrial, commercial, or entertainment facilities. So, you know for a fact that residing in this city is sure to offer you a wonderful experience.

Certifications to Look for When Buying a property

In order to secure a healthy and safe future for the coming generations, it is imperative for people to start caring about the environment. Therefore, when buying a house, you should always make sure that the construction is environmentally sustainable and has eco-friendly features. Such constructions, often known as ‘green buildings,’ are built and operated so as to promote environmental friendliness and sustainability. They avoid incorporating elements and practices that can harm the environment and cause degradation in nature.

In order to ensure that the house or flat that you are about to buy is environmentally sustainable, you should only purchase property in a residential project having the following certifications.

1. LEED certificate: The Leadership in Energy and Environmental Design (LEED) certificate was developed by the U.S. Green Building Council (USGBC). This system of certification is meant to encourage the development of buildings that are resource and energy efficient. The LEED certificate signifies that a building was constructed keeping in mind the responsible management and use of resources. Such construction practices help bring us closer to an environmentally sustainable future. By buying a flat in a LEED certified building, you shall be safeguarding the health and happiness of your family.
2. IGBC certificate: The Indian Green Building Council (IGBC) certificate is a unique rating system that was designed specifically for the Indian residential sector. The system has been developed in accordance with the principles of environmental preservation and enhanced energy efficiency. The system aims to encourage the construction of environmentally sustainable real-estate projects. IGBC certified buildings are sure to be healthy and eco-friendly residential spaces. These buildings were constructed in a way so as to reduce the creation of harmful waste and the use of fossil fuels. Residents living in IGBC certified buildings will enjoy better health, happiness, and wellbeing.

While the above-mentioned certifications ensure the environmental sustainability of individual buildings, the growing pollution and congestion seen in metro cities have made it almost impossible to live pollution-free lives in the bigger cities of India. Therefore, many people are choosing to move to smaller cities such as Mohali, where they can live amidst the opulence of nature without sacrificing the amenities found in metros. For a long, healthy and peaceful life, you can buy a premium 1 bhk flat in Mohali in a LEED and IGBC certified residential project. After all, the health and happiness of your family depends upon the quality of your living space.

Benefits of buying residential property in Mohali

Mohali, one of the most popular cities of not just Punjab, but the whole of North India, is now considered as a major commercial hub. The city has been experiencing an exponential growth in the last few years with rapid development. On its way to become the IT hub of the State, the city has also had planned infrastructure development with an aim to make it the most livable city of Punjab. Well, that’s a goal almost achieved as there are big players of the real estate industry already establishing their foothold in this newly growing real estate market. So, if you are looking to move to Mohali by investing in a residential property in Mohali, you have more than one reason to be happy about!

A beautifully planned city!

Among the top reasons that make Mohali a preferred place for real estate investment is its infrastructural development. The city has received wide acclaim for its structural design, planned spacious roads and great sanitation. The beauty of Mohali lies in its simplicity – it is a city with the best of amenities yet with the charm of a little town.

The king-size life!

Life in Mohali is quite royal. People here live in beautiful, huge bungalows and premium villas and apartments. The residential properties along NH-24 and the surrounding areas are particularly noteworthy. If you are getting a property in and around this area at a rather good price, you definitely should consider it as a serious investment opportunity because the prices here are bound to increase manifold in near future.

Rapid scale urban development!

The city of Mohali is attracting foreign attention increasingly and more and more corporates are looking at business opportunities in the city. Large IT companies like Infosys and Tech Mahindra, along with other conglomerates have a presence in Mohali. This is sure to increase the career opportunities here and this will further cascade to positively impact the real estate industry in the city. Hence, now is the best time to seriously consider an investment in residential property here if you are looking at deriving high returns from your investment in near future.

Benefits to Expect while Investing in a Residential Property in Mohali

While purchasing a residential property, it is important to evaluate two things, one being how lucrative the investment will be and the second being whether or not the city is poised to become a thriving urban centre. On purchasing a residential property in an urban centre like Mohali one can be assured that the property prices will definitely increase at a high rate, thereby making the respective real estate investments lucrative ones. Nevertheless, irrespective of whether you are thinking of purchasing a residential property from an investment point of view, i.e. you want to give it on rent or whether you are purchasing an apartment to live and raise a family in, Mohali is the place to be!

Advantages of Investing in Residential Properties in Mohali

The real estate industry in Mohali has been thriving because of the increased investment by the government in developing infrastructural facilities in the city. Additionally, reputed real estate development companies have been investing in building integrated townships in Mohali that have numerous facilities, suitable to lead a luxurious and sophisticated life. So, if you are looking for 3 BHK flats for sale in Mohali it is best that you check out the residential towers in the upcoming mega townships in the city. Listed below are some of the benefits to be expected on purchasing a residential property in Mohali:

• Mohali is poised to become one of the major commercial centres in India. Multinational companies belonging to the corporate and IT sectors have been opening offices in the city. This will naturally draw individuals from the high income group into the city. Subsequently it will also lead to the development of exclusive residential properties that meet client requirements specifically, thereby making leading a comfortable and luxurious life in Mohali a possibility.
• Mohali has numerous facilities like luxury shopping malls, state of the art healthcare centres, reputed schools and colleges, which makes the city ideal to live and raise a family.

Thus, Mohali as a city has all the facilities to be expected from a prosperous industrial and commercial hub, which makes the city ideal for investment in residential properties.

Entertainment Options that Buyers look for in High-end residential complexes

Most people today prefer to buy apartments within residential complexes as they get to enjoy all amenities within the gated premises. This increase in demand in apartments within gated colonies has led some of the biggest developers to launch mega scale projects wherein within the same boundary people can get everything, right from shopping malls to cinema halls to fine dine restaurants and now the situation is such that home buyers evaluate the worth of a property based on the availability of such amenities. So, if you too are looking to buy a Buy 3 BHK Apartment in Mohali or some other Tier II city, you may want to check for the following amenities before making the final purchase decision.

Shopping Complex: Well this is now the most essential component of a gated complex. Presence of a shopping complex is not just a luxury but also a basic necessity as people staying in such gated colonies need a place from where they can get the items of daily need. However, now in the integrated townships where there are office spaces along with residential areas within the same boundary, the shopping complexes have become much more than the regular grocery store. These days even big fashion brands and departmental stores have their outlets in such townships. So you too may want to opt for an apartment that offers such facilities.

Club: While earlier in gated colonies, the presence of a community centre was considered as a big plus, these days the expectations have increased. What people look for now are clubs with all amenities so they do not have to go out of their premises to enjoy their weekends with friends and family.

Fine Dine Restaurant and Café: Most integrated housing complexes nowadays also have fine dining as well as casual dining options so guests can enjoy a family dinner or a date with their partner without really having to drive all the way to the city centre in the evening traffic. This amenity too has become an essential in most modern townships.

If you too want to buy an apartment within one such township, you must look for projects that have been launched by reputed developers as they come complete with all such amenities and are even situated in prime locations in the city.

 

Crucial Tax Tips To Commercial Property Investors

Most Indians prefer investing in commercial property because of high return on investment (ROI). Investing in commercial properties has become quite popular these days but when you make such an investment, it is important for you to know about the different tax details.

If you are investing in a commercial property for the first time, then it is all the more essential for you to go through the list given below to understand the tax specifics better:

• The first and the most important thing that a commercial property investor should know is the type of holding structure that they are planning to use. This can have a very significant impact on the tax. For example, if you are making use of the self-managed super funds to buy a commercial property, then the tax that you have to pay will be much lesser. The depreciation report of the quantity surveyor will provide you with the list of those assets that will help you in maximizing your deductions.
• When you already own a commercial property and are planning to sell it, then the capital gain date is the exchange date and not the settlement date. So, you can always wait till the 1st of July in order to postpone the tax payment to the next year. However, if you have tenants in the commercial property, then you do not have to pay GST at the time of either selling or buying it.
• Most of the commercial property owners are of the belief that claiming deductions on the capital works is an ongoing process.
  However, the actual fact is that when you sell your property, you have to reduce the base cost of the property by the amount that you have already claimed before when you were the owner of that particular commercial property.

Investing in a commercial property after knowing about these important tax details will definitely be a good idea. If you plan to invest, then investing in an office space in Mohali or other places where you find a good option will certainly be a smart decision because these properties ensure very good returns in the future. Also, there are a number of commercial properties available for sale by the reputed builders in Mohali and other premium locations.