The lights are beautiful. They are stylish, pretty and can effortlessly brighten up any space of a home. In fact, with the growing demands of home décor items which also include lights, you can come across a plethora of bold, subtle and gorgeous options both online and offline. Any one of the pieces can be placed in a corner of a living room, bedroom, kitchen or even a study room and, voila! You can easily turn your home into one like a celebrity home right away!
Whatever may the design of your home be, the one thing that helps set the perfect mood is lights. And without further delay, let us help you understand some very trendy lights that are in demand in 2021.
Modern Chandeliers
The classic chandeliers have evolved over the years and they are still capable of winning hearts with their charm. No room can go unnoticed when there’s a chandelier hung in the centre. Match the piece with your existing furniture or go for contrast, they will always be the star of the room.
Sculptural Lamps
Now, this form of light serves two purposes – one to light up the space and another, to decorate the space. There are beautiful options easily available in the market and you can pick the perfect item that matches your vibe. Additionally, you can select from options that can be placed on a table or hanged from the ceiling.
Spotlights
As the name suggests, these lights serve the purpose of lighting certain corners of a room properly and without being noticed much. You can hang the spotlights in the ceiling or place them on the floor, the choice is yours. What’s even interesting is that you can find this form of light in different shades as well.
Floor Lamps
Another classic light form, floor lamps are available in a wide variety. A little research online and you can come across a spectacular set of designs ranging from vintage to contemporary. You can place one such long floor lamp in a corner next to your furniture set or next to a piece of single study furniture and see how marvellously this effortless home décor piece will stir a conversation among your neighbours.
Colour and Pattern
When it comes to lighting your home, choosing a lamp that is filled with colours and unique patterns immediately sets up a different overall setting. Whether you like minimalistic home décor style or a room filled will all kinds of elements, a beautiful coloured and patterned lamp will ace up any kind of the two settings.
As years go by, the changes in home décor trends change rapidly. This intensifies the need to invest in better elements and ace up your own home décor goals. One of the best ways to enhance your home décor requirements is by investing in the best form of lights. The ones mentioned above are some of the most loved options from the year 2021.
We hope that you find this read helpful and can now plan to invest in at least one of these light forms for your home décor. You can read more such useful blogs here and keep visiting us to learn more such useful tips on vast topics.
About Protech
If you are looking for properties in Guwahati, Assam, Protech Group is here to introduce you to the best in the city. With our years of expertise in the real estate market, we are committed to building modern and well-equipped apartments that perfectly suit our clients need. You can connect with the professionals of Protech Group today by clicking here and get a better insight into the available properties in Guwahati along with other details.
When you embark on your home buying journey, which factors do you primarily focus on? Is it the location of the property? Or what facilities are made available within or around the premises? While these factors are, of course, primary factors to be considered, there is one crucial factor that, unfortunately, not every individual focuses on – The resale value of the property. Now you may wonder as to why a home buyer would think of the reselling when there’s even no purchase made, right?
Well, accept it or not but life is uncertain, and you cannot ignore the possibilities of the sudden happening of any circumstance. Hence, it is always wise to take every possible step beforehand, especially when you are investing in such a huge value as a property. If you have already bought a property or are planning to purchase one in the near future, here are some tips on how you can increase their value slowly and steadily so that when the time comes, you are welcomed by potential buyers:
Take an Expert Tour
It is always a wise decision to take a tour of the property with a real estate expert to check the overall quality of the house. Their years of expertise allow them to check every minor and major presence as well as an absence to help you make a better decision as per your needs. But you are in good hands right from the start if you are investing in an apartment of a reputed real estate group.
Regular Inspection
Ensure that you do at least a quarterly inspection of your property to ensure every corner and space is fixed in cases of issues on time. We tend to ignore several such spaces in our home such as the roof, ceiling and so on for months. These are areas where problems like a termite infestation, accumulation of cobwebs, water leakage etc., tend to start. On-time service of these areas should be taken care of to ensure no damage is caused to the property.
Introduce Nature
If you have a garden or at least a balcony, spend on landscapes or small garden space. The presence of these naturally rich décor sections will only increase the value of your property later while also offering you the opportunity to have a beautiful natural space of your own. This is a low-cost step and also a life-long opportunity to give you an exciting hobby that can be incorporated into any area you plan to relocate to in the future.
Cleaning the different areas of both the interior and exterior areas of your home is another simple way to maintain the quality of your property. You can also hire experts on a regular basis who can take care of the job without hampering your busy schedule.
Protech Group focuses on covering topics that help home buyers get an insight into how they can wisely invest in properties for a better future. If you like these simple tips on how you can increase the value of your property and would like to read more such interesting pieces, do visit us here.
About Protech
If you are looking for properties in Guwahati, Assam, Protech Group is here to introduce you to the best in the city. With our years of expertise in the real estate market, we are committed to building modern and well-equipped apartments that perfectly suit our clients need. You can connect with the professionals of Protech Group today by clicking here and get a better insight into the available properties in Guwahati along with other details.
Every year around this time, we face the wrath of a peculiar smell of damp clothes from our cupboards. No matter how much you try and keep them fresh, that foul and musty smell sticks around. This is what the monsoon humidity results in and almost every household falls prey to it. Moreover, the pandemic may have resulted in making the situation worse as most of your expensive and pretty attires have been probably resting inside for a very long time.
But there’s a solution to everything and that includes, keeping your cupboard and clothes smelling fresh even in this monsoon. There are some simple tips and tricks to get rid of the smell. But you need to ensure doing the same at regular intervals of time to keep the smell from sustaining in the difficult spaces. Here are 4 quick and simple remedies that you can incorporate using the daily items available in your home:
Lemon Juice
Lemons have superpowers and it’s time that you start accepting this fact! Their acidic nature allows lemons to easily wipe out even the worst smell caused by this weather. They eliminate the musty fungi smell even after a few sprays and help keep your cupboard and belongings smelling fresh. All that you need to do is mix 2 tablespoons of lemon juice with water to create a cleaning solution and store them in a spray bottle. Spray the solution around the affected areas and leave it for a few minutes. Wipe the area with soap and water and voila!
Vinegar
Another potent ingredient is vinegar which does way more than only making your dishes all the more delicious. Like lemons, vinegar too is acidic in nature and can be used exactly like it to eliminate pathetic monsoon humidity smell. Prepare a solution using vinegar and water and store it in a spray bottle. You can spray the solution in the affected areas and wipe it off with plain water as well. Vinegar also helps trap files that enter our homes, especially in this season. You can also learn more ways on how to eliminate flies naturally.
Use Fragrences
You need not really spend hundreds on fragrances available in the market and can instead use the incense sticks that you use at home. So, one trick is to open the cupboards whenever you have the incense sticks lighting at home. This helps the fragrance spread inside the cupboard too, leaving a fragrant smell and slowly eliminating the weird smell.
Vacuum Seal Your Clothes
If you have clothes that you know you will not be wearing any time in the near future, vacuum seal them and store them in a safer space. This will help prevent the accumulation of moisture that leads to the development of fungi. Additionally, you will be able to create enough space in your existing cupboard so that your clothes and other belongings can have the required ventilation and not get humid.
While these simple yet effective tips will help keep your cupboard smelling fresh this monsoon season, there also are certain things that you need to keep in consideration. For instance, do not bring in or store wet leather goods such as shoes or bags. The moisture they absorb quickly starts to produce an awful smell. Another such simple hack is to place a fragrance of your choice handy. Spray it before you have guests at home or once a day to keep the fresh fragrant around.
We hope that you like and enjoy incorporating these quick tips and tricks and keep your cupboard smelling fresh this monsoon. You can read more such interesting hacks here.
About Protech
If you are looking for properties in Guwahati, Assam, Protech Group is here to introduce you to the best in the city. With our years of expertise in the real estate market, we are committed to building modern and well-equipped apartments that perfectly suit our clients need. You can connect with the professionals of Protech Group today by clicking here and get a better insight into the available properties in Guwahati along with other details.
Housing options in India differ to a great extent. The country comprises rural and urban areas, which makes the presence of different houses possible. Additionally, India is a secular country and boasts a great mixture of cultures that practice their own set of ideas and customs. This highly contributes to the availability of different housing types across the country.
Along with different cultures come the geographical factor which again plays a huge role in India’s vast housing types. While the urban population immediately prefers apartments, flats and bungalows, other areas such as towns, countryside and villages have varieties in architecture and the use of materials. Keep reading below to check out the different types of houses we can find in India:
Huts
The very first type of housing system in India, huts are simple shelters that are not very spacious but are made using natural and easily available materials. They can mostly be found till date in the rural areas of the country. Some of the common materials used for the architecture include wood, branches, leaves, hide and mud.
Bungalows
Also known as cottages, bungalows are huge one-story homes that can be commonly found in the country sides. With the advancing technology, many homeowners investing in bungalows include the use of advanced architecture and amenities to amalgamate with the modern lifestyle. Bungalows usually house one family and the major advantage to enjoy is the personal space comprising of the house, garden, parking space and more.
Apartment
Apartment buildings are the modern and most preferred form of housing facility available in the country. A single apartment building comprises of several flats that allows a family or individual to enjoy their personal space. Each apartment comes with rooms, kitchen, bathrooms and balconies, allowing a family to live comfortably. This type of self-owned apartment is further divided into categories including penthouses, studio apartments, basement flats and suites.
Penthouses
Also popularly known as the “luxurious top-floor units”, penthouses are located on the topmost floors of a multi-storeyed building. What makes penthouses different from other apartments of the building is their extraordinary luxury elements. They are spacious and lavishly built unlike other apartments and offer breathtaking views of the residing area. Additionally, what makes penthouses worth an investment are private access to the terrace, zero disturbance, 100% privacy and other access to luxury amenities like a swimming pool (if on the top floor) by the residential project.
Eco-friendly
Known as green homes too, eco-friendly homes are steadily gaining popularity to help protect the environment as well as own a home that fits one’s budget. These houses are built using all eco-friendly materials and comprise facilities that run with renewable energy sources. Many Indians are gradually opting for this form of the house as an initiative to control environmental abuse.
While these are a few common forms of houses you can find in India, there are many others as well. They include farmhouses, villas, condominiums, bamboo houses, treehouses as well as palaces! The presence of each of these accommodation types varies from region to region. We hope that you liked reading these interesting facts about the housing options that we have in India. To read more such informative blogs, you can visit our blog section by clicking here.
About Protech
If you are looking for properties in Guwahati, Assam, Protech Group is here to introduce you to the best in the city. With our years of expertise in the real estate market, we are committed to building modern and well-equipped apartments that perfectly suit our clients need. You can connect with the professionals of Protech Group today by clicking here and get a better insight into the available properties in Guwahati along with other details.
5 Reasons that Make Co-living Spaces the Hottest Real Estate Trend!
You are a student, a working professional or a single person looking for first-class accommodation. But the shocking high rents for apartments you find today hasn’t made it easy to find the ideal space. Do we sound similar? Well, if we are, we also come with a solution for you! “Co-living spaces” have lately become a widely accepted concept of living. They act as a heaven for those looking for living spaces that come with every essential amenity. Here we are giving you a few quick insight into how co-living spaces are offering a modern solution to all our logistic needs.
5 Reasons That Prove Co-Living Space are a Boon
Most living spaces come with the facilities of a washing machine, refrigerator, television, geyser, well-equipped kitchen and so on. Isn’t that just amazing? After all, it becomes pretty challenging for those living alone to invest in every essential commodity to lead a comfortable life. Now, without further delay, let us check out the 5 top reasons on why co-living spaces are becoming the next big thing in the real estate industry:
Less Expensive: The primary concept of commencing co-living spaces was to make accommodation affordable for people. Hence, renting such a space instead of an apartment for working people or students has been proven to be extremely beneficial. One can enjoy a wide range of facilities along with accommodation rather than having to invest in every item ranging from refrigerators to televisions.
Profitable Business Model: Unlike apartments and flats that take days or even months for owners to find tenants, it is exactly the opposite with co-living spaces. Owners can easily find tenants for at least a room or two of the many available. This helps owners maintain their monthly income. Additionally, landowners can avail the opportunity of connecting with tenants from various backgrounds. This can further assist in taking decisions of which category of individuals would they prefer as tenants – working, students, etc.
Increased Development: Co-living spaces increase opportunities for people in underdeveloped areas. How? Renting apartments becomes challenging, especially for those who manage studies and work at the same time. With co-living spaces, the daunting task of investing in several items gets eliminated. Additionally, people get to live with people from different sectors and with similar lifestyles. This can prove essential for one’s personal and professional growth.
Opportunity to Bond: Several studies have proposed that co-living spaces make for an ideal living condition for those who are single. This is why the concept has gained much popularity in many parts of the world including Europe, the United States and China. The charm of the living atmosphere is the opportunity to meet new people and create a bond. Hence, individuals who are single or far away from their homes can take the best advantage of the concept.
Better Lifestyle: Every individual is well acquainted with the accommodation challenges faced by working professionals and students coming in from different states. However, co-living spaces are here to remove every such obstacle. When you choose a co-living space, you welcome the chances of living a better lifestyle. With world-class facilities made available in advance, you can expand other opportunities.
Let’s sum it all
With the advancement of technology, booking a space for yourself has become even more easier. With real estate experts trying to expand this concept of accommodation, there is also an increase in easing the process. For example, many co-living spaces can be checked and booked through apps dedicated to the service. This helps individuals to remain at bay from the painful processes of finding a broker and paying them a commission.
Protech Group stands committed to bringing in better accommodation spaces for people of different tastes. We focus on the changing lifestyle and demands of people and hence, create spaces to enhance living standards. Hence, we are excited to create a variation of living opportunities for our clients. If you are looking to buy an apartment that suits your modern lifestyle, you can check our list of residential projects in Assam here https://protechgroup.in/protech-residential-project.php. Additionally, allow us the opportunity to share more details and help you find your dream home. You may connect with our experts at +91 98540-47000.
The residential project has 128 flats constructed in 4 blocks of G+8 floors. All the flats are 3BHK Flats.
Protech Prime is driven by innovation and smart engineering to provide for a home with all modern amenities to offer you premium living. At a starting price point of Rs. 46.5 Lakhs with the condition that there are no ad-hoc charges for maintenance for one year, Protech Prime is quickly becoming the first choice for homebuyers in Guwahati.
To know more about the features and amenities of Protech Prime, please click on the button below.
Apart from the very competitive pricing of the flats in Protech Prime, we hereby list the 3 top reasons why we believe that Protech Prime should be your first choice to buy a flat in Guwahati.
1. Pradhan Mantri Awas Yojana (PMAY)
Protech Prime is covered under Pradhan Mantri Awas Yojana Urban (PMAY-U) in the CLSS scheme. PMAY CLSS is a housing scheme of the Central Govt of India that offers subsidies on the prevailing home loan interest cost. If you apply and successfully avail of the scheme, you can get a home loan interest subsidy of up to Rs. 2.67 lakhs when you buy a 3BHK flat in Protech Prime, Kahilipara.
You may click on the link to understand more about PMAY and to calculate the interest benefits that you may get.
Connectivity and easy accessibility are the two important features that one keeps in mind while looking for a flat. Bhagaduttapur, Kahilipara is an emerging residential location close to the heart of the city of Guwahati. It is around 3 km from Ganeshguri flyover, GS Road and the Secretariat. Being so close to Dispur, which is the capital of the state, the apartment is close to all the major offices, banks, commercial complexes, schools and hospitals including GMCH. It is very likely that this location will see significant price appreciation in the coming years. It makes Protech Prime a very good investment choice as well.
Protech Prime is engineered and designed to accommodate all the modern amenities that a family needs for a comfortable and premium living. With its competitive price tag, these amenities add a great value for money to the residential project.
Multi-purpose Clubhouse
Prime has a multi-purpose clubhouse with an exclusive gymnasium and indoor games like table tennis and carrom.
Swimming Pool with Deck
It has a swimming pool with a deck facility. What’s more, it is attached to an open area where residents can organize poolside parties.
Modern Outdoor Gazebo
Protech Prime has a patio gazebo which can be the adda place for the residents for a good time after office and on holidays.
Landscape Garden Area
Protech prime has an outdoor area that is landscaped with a lawn and a garden. It is intended to be pleasing to the eye so that the residents can have a happy feeling about the outdoors.
Optimal Space Utilization
All the 3 BHK flats in Protech Prime are designed with a perfect layout without pillar protrusion. It gives maximum flexibility to adjust your furniture and other decorative items.
Eco-friendly Project
This apartment is designed for rainwater harvesting, for natural illumination and ventilation, and allotted dustbins for wet waste and dry waste disposal.
Incorporated in 2005, Protech Group has become one of the leading real estate builders and developers in Guwahati, Assam. For the past 15 years, the Protech group has been transforming the real-estate landscape of Guwahati and Assam with its premium projects.
Adding to this legacy of premium living, Protech group has launched its new residential project Protech Prime at Bhagaduttapur, Kahilipara. With its experience, Protech Group is now innovating to give the best value for the hard-earned money of home buyers. It has tried to encapsulate the project with all possible amenities as well as some features like heat resistant structure at a very competitive price point.
If you are looking to book a 3 BHK flat in Guwahati you can visit our website www.protechgroup.in
Buying a property is emotional as well as crucial decision for most of us. Many questions come into our mind when going to buy a property. This is not just a decision for a month or for few years, but a decision for almost a life time. So, only after considering different aspects one should take decisions. You may have question about which property to buy – should we buy under construction property or should it be a ready to move property.
Benefits of buying ready to move properties?
Ready-to-move property simply means a property that is available for immediate occupancy for the buyer. Here are a few benefits of any Ready-to-Move property; be it residential or commercial property.
You exactly get what you see
The biggest advantage of ready to move property is that you get exactly what you see. You can personally go and inspect your home before going to pay based on the complete design as well as amenities you desire. You get to experience the quality of the final product. There are no chances of discrepancies from what you felt and experienced in your site visit. For the things that are not immediately visible to us, like the quality of water in the building, it’s a good idea to talk to the people around or the neighbors.
You can move immediately
One of the prime benefits of buying a ready to move property is immediate availability. One can move immediately as there is no any waiting period. Once you make the payment to buy the property and sign the required documents you will get the advantage of getting the possession within minimum time period and it helps to save on your rent part. Therefore, you don’t need to wait for years and years to get the possession of your property.
You can know about the people living around you
One of the main advantages of ready to move properties is that you can familiarize yourself with the people living around you. You can already see your society and surrounding. You can know who your neighbors are, what community they belong to, so that you can decide if you would like to be with them or not. It is important to know in advance how active and mature your prospective neighborhood is. It is equally important to check out connectivity from your new home with local transport, parks, recreational facilities, schools, hospitals and other things.
You can buy within your budget
In ready-to-move property you can select a property according to your budget. In case of this property, you get possession immediately after paying the required price for the flat. There is no chance of increasing the price of the property, unlike properties under construction.
Free of GST
The ready to move properties are not under the boundaries of Goods and Services Tax (GST). For ready to move properties like Protech Tulip , the builder does not charge GST as it is immovable in nature, not goods. Also, its construction was not a service done for you. One has the advantage of claiming tax benefits with ready to move apartments.
If you have bought your property with home loan, you can claim tax benefits from the same year of buying the property or getting the possession.
Freedom to renovate
Ready to move flats are likely to provide the independence of renovating the property after purchase and immediate possession. Under construction properties wont give you that independence, as it is being built according to an approved architectural layout.
Conclusion
From the above points, we can say that if you have the necessary budget, it may be better to go for a Ready-to-move property as it will save you time, and give you the assurance of getting the flat immediately. You can mitigate the risks of builders not being able to complete under construction properties for any unforeseen event. However, we may note that under construction properties are almost always priced lower, and therefore may prove better in terms of investment.
Protech Tulip is the recently completed residential project of Protech Group. Protech Tulip is located at the upcoming residential hub near the Sarusojai Hockey Stadium. It has 3 blocks of ground plus 6 floors of 2 BHK, 3 BHK and 4 BHK flats with all modern amenities.
This blog is to inform our readers that there are a few ready-to-move 2 BHK flats that have become available for sale last week. There was one 3 BHK as well, but that got booked yesterday. Please leave your details in our contact form and we will get back to you.
Note from the Architect
The residential project Protech Tulip has been developed at Borsojai, Bhetapara. The project has been designed with the objective of living with comfort. Every flat has been positioned in a way that ample natural air and light reaches to the occupancy. The balcony designed offers either the morning sunshine or the evening sun. With sufficient open space in the project, the location provides fresh breathing air. Elevation has been specially designed to create a difference.
Features of Protech Tulip
Designed with an objective to give you more, Protech Tulip is designed with the belief that there is really no place like your home. Just walk in and take in the sense of space, uniqueness of design and its uncompromising quality of its amenities. You can unlock the lifestyle that befits you and feels you with pride.
Ready to move Apartments
The best thing about this opportunity is that we have completely ready 2 BHK flats available to you for immediate possession. Some of the flats are corner flats, and some have open terrace to give you that extra space.
Location of Protech Tulip
Protech Tulip is located in a purely residential area, which is just 300 metres away from the national highway (NH-37) via the Beharbari Chariali point. It is 50 metres away from the Hockey Stadium. Protech Tulip is well connected with schools, colleges, hospitals and shopping bazars in close proximity.
Modern Amenities
The Tulip residential project has all the modern amenities of the best brands. It has a kid’s pool with garden facility, community hall and over 55% open space surrounding the buildings. It has a modern gymnasium. To know about the rest of the specifications, please visit our Protech Tulip page by clicking here.
Affordable Pricing
The project was planned and designed as a value for money residential complex. It has the best possible modern facilities including a generator set for common area lighting, a gym and high speed automated lifts. The completed ready to move 2 BHK flats are now available from Rs. 41 lakhs onward.
Conclusion
We only have a limited number of 2 BHK flats available. Discussions are already ongoing for the corner flats. People who are urgently looking for ready flats must hurry. Please spread the word for people who are looking for ready possession flats. All interested parties may call +91 98540 47000 or visit the page to give us their contact details.
We are facing an urgent need across the world to become environment friendly. Eco-friendly lifestyle is becoming essential to lead a life of a responsible citizen. Some simple changes in everyday human life can make our homes, our lives healthier, safer and greener.
Let us discuss a few ideas to make our life and our homes Eco-friendly.
Save Energy
Every extra unit of electricity that we use, means the use of coal and depletion of the earth. Majority of our electricity sources are still non-renewable. Using energy efficient light bulbs such as CFL and LED bulbs can save energy, as it uses less electricity. Not only they are energy efficient, they also last longer.
Secondly, you can use energy efficient windows in your home that help you save plenty on your energy bill with their better insulation so that you can stay cool in summer and warm in the winter.
Thirdly, using ‘Energy-Star Qualified” appliances can help you to reduce energy consumption. What else, lets not forget to unplug the appliances after using it.
Pick a better wall paint
Many wall paints contain chemicals that help paint spread evenly. These chemicals are harmful to the environment and can cause many health problems as well. They are specially harmful for people with allergies and respiratory ailments. Using wall paints that contain low levels of VOC (volatile organic compounds) can help significantly in making the environment fresh.
Plant trees, have a garden
Planting trees is our duty. Investing a little time in the morning developing a garden in the terrace or the balcony is a small but significant step. Working in a home garden is also healthy. It burns a lot of calories. They are the easiest tasks one can do for a green environment.
Tree shades can reduce the amount of energy people spent to cool their house in the summer. Planting of trees is a step towards Eco-friendly environment that takes some time to realize its full benefit. Trees produce oxygen and absorb huge amounts of carbon dioxide and monoxide that is generated by vehicular pollution.
Use Eco-friendly products
Using Eco-friendly or green products in our homes feels great. It helps us to go green. You can use green products in your wide variety of daily activities such as transportation, clothing, etc. Few things that you can use are biodegradable bags instead of plastic bags, stainless-steel water bottles for drinking your water, recycled fabric clothes, shoes made from recycled and naturally occurring materials, reusable cotton clothes and towels instead of paper towels etc. Use fuel-efficient cars or bicycles to reduce the carbon emissions from the vehicles. Even better you can find a place to live that is close to your work, grocery store and other places that you frequently visit.
Some quick Eco-friendly tips
These are some quick tips that you can take to keep the home environment friendly:
Move your refrigerator away from sunlight heat. It requires extra energy to keep things cool under direct sunlight.
You can use mattresses without synthetic chemicals or toxic materials for sleeping. Non-toxic mattresses are useful for health also.
You can keep a little plant on the bedside table. It improves the air circulation in the room and also provides a nice Eco touch to the Earth.
In the kitchen, using non-stick, stainless steel or iron pans can emit harmful toxic fumes which can have a negative impact on your home’s air quality.
These simple tips can make our homes and our lifestyles Eco-friendly. We don’t need to spend a lot to make our environment sustainable. Protech Group advocates an Eco-friendly environment and always plans and designs projects with the environment in mind.
Benefits of RERA are many. Owning a home is every person’s dream. Real Estate Regulations Act (RERA) introduced in 2016 is meant to safeguard that dream of every Indian.
Real estate is an investment of a lifetime and not everybody can afford a home for themselves in the metros, tier I and tier II cities like Guwahati in Assam. To add to the misery, every developer / builder earlier had his own norms and standards. They followed different practices and structured the builder-buyer agreement in a manner that favoured the builders. The common buyer had very limited rights.
Real Estate Regulation Authority (RERA) was instituted to protect and safeguard the rights of the common man who invests his lifelong savings in buying a home. RERA specifies certain norms for building and development of real estate, which will enhance the transparency in transactions in the real estate sector. Benefits of RERA include several rights to the home buyers and has also specified certain rules and regulations to be followed by all builders/ developers. It also specifies the creation of an Appellate Tribunal for each state to understand and tackle complaints by home buyers.
10 Major Benefits of RERA Act
Here are the 10 major benefits of RERA act for the common home buyers:
Standardized Carpet Area:
Earlier, the carpet area on which the builder calculated the price of the property was not defined. Every builder/developer had his own method of calculation of the Carpet Area. Now, the method of calculation is defined and standardized by the RERA Act and the same formula has to be used by all builders and developers.
The definition of carpet area as given by the law is:
Carpet area means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.
This definition is a direct benefit of RERA and has an impact on the Real Estate prices, as most developers charge on the basis of carpet area. Builders compute the price of a property by multiplying the carpet area by the rate per square feet.
Rate of interest on default:
In case of default in payment by the buyer or default in completion of the project by the builder, the rate of interest to be paid shall be the same for both parties. Earlier, the interest burden on the home buyer was higher than the interest that the builder agrees to pay in case of construction delays. There was no parity in the interest to be paid by both the parties. The RERA Act has now clearly specified that the interest rate shall be the same for both the parties.
Lesser risk of builder going bankrupt
A developer usually has several projects, which are being constructed simultaneously. Earlier builders were free to divert the funds raised from Project A to fund the construction of Project B. Now, this would not be possible after the introduction of RERA. The builder is liable to deposit 70% of the amount realized in for the project in a separate bank account. He can withdraw from such account only on the basis of completion of project, which shall be certified by a civil engineer, architect and a chartered accountant in practice.
RERA will ensure that the builders use funds collected for a project, for the same project and this will reduce their chance of getting bankrupt. It will also ensure timely completion of the property as the funds are being used in the right project.
Advance Payment:
The builder can take not more than 10% of the cost of the flat, apartment or villa as advance or application fees as the case may be, before entering into an agreement of sale.
Buyer Rights as Benefits of RERA
The home buyer enjoys various rights under this act. They are detailed in the following paragraphs explaining the benefits of RERA.
Right of the buyer in case of false promises:
In case there is a mismatch in the commitments made by the builder and the actual project, the buyer has the option to withdraw from the project, wherein he is entitled to full refund of the amount paid as advance or otherwise along with interest and claim compensation.
Right of the buyer in case of Defect after possession:
The builder shall rectify any defect free of any charge if the defect is discovered within 5 years. The defect can be a structural defect or any defect in workmanship, quality, provision, or service. The builder will rectify all such defects at no extra cost within 30 days. If the builder fails to do so, the buyer shall be entitled to claim compensation for the same.
Rights of the buyer in case of delay in possession:
If the builder fails to complete the project on the due date of completion, then the buyer has two options:
To withdraw from the project, wherein he shall be entitled to full refund along with interest payable from the due date of completion till the amount is refunded.
To continue with the project till the completion, wherein he will be entitled to compensation along with interest payable from the due date of completion of project till the project is actually completed.
Rights of the buyer in case of defect in Title:
Even after taking possession of the property, the Rights of the buyer are protected. If the buyer finds a defect in the title of property, then he or she can claim compensation from the builder. There is no time limit within which the buyer have to report the defect.
Right to information:
The buyer is entitled to all the information related to the project. The right to information clause gives him that privilege. He can ask details about the plan layout, execution plan, stage wise completion status etc.
Appellate Authority for Grievance Redressal:
The home buyer can take the builder to the state authority set up under RERA for any grievances. It has the power to redress all grievances. The buyer can file an appeal with the Appellate Tribunal if he is dissatisfied with the order. The tribunal will redress your case within 60 days, or shall record the reasons of such failure.
If the builder wants to appeal against any order, he shall have to deposit to the Appellate Tribunal against the order of the Authority, then he shall have to deposit at least 30% of the penalty, or such higher percentage as may be determined by the Appellate Tribunal. He may also need to pay the total amount to be paid to the home buyer including interest and compensation imposed on him, if any, or with both, as the case may be, before the said appeal is heard.