Top Interior Décor Disasters to avoid

Styling your home can be time and money consuming so make sure you do it right. Here is the list of the major interior décor faults to avoid.
Decorating our homes can be a daunting task for most. While the market is filled with several options in myriad styles, not many of us are equipped with the aesthetic sense to do a good job with our interior decor on our own. Consulting an interior designer or decorator is the best way to ensure that your home is a welcoming space for guests and family while still reflecting your personality. For those who still want to take the task into their own hands here are the suggestions some basic things to look out for so that we may avoid major interior decor disasters.

Excessive matching

We emphasises the importance of maintaining a balance in your decor. Just because you like a particular colour does not mean you should decorate the whole house in that colour. Decking up the whole house with a single colour or matching furniture set would make the house look extremely garish. Try using contrasting shades or accents to break the monotony. Your favourite pattern will stand out more if used in small doses.

Clutter

So you love picking up souveniers from your travels or have a huge collection of knick knacks that you want to display in your home? Make sure that you do not over do the showing off. Just because you have a ton of family heirlooms does not mean you need to keep them all over the house. Remember that it’s your home, not an antique store. We suggest that ideally we should only use half of our most loved display elements. Choose the items that work well with your decor theme and have the most sentimental value.

Poor lighting

Lighting has the power to change the whole mood of a room. The ubiquitous fluorescent tube lights are great for reading or cleaning but if you plan to entertain guests in your home, warm white light as of LEDs would be a better option. Having multiple bright overhead lights is a major décor disaster to be avoided. Try using a balanced mix of floor lamps, overhead lights, reading lamps and accent lighting in order to create focal points in your decor. Placement and the type of lights used is an important decision which, if ignored, can spoil even the best decor.

Excessive use of plastic

Indian homes are very commonly filled with plastic products ranging from artificial flowers to plastic furniture. Using plastic in your interior decor must be done very carefully as it tends to lend a cheap look to your home. Unless you want a retro look try to avoid excessive use of plastic in your home decor.

Mismatched furniture and furnishings

Just as going all matching-matching can spell interior décor disaster, similarly mismatched furniture can also ruin the whole look of your house. Choose a theme and buy furniture and furnishings that complement the theme. People often replace old furniture pieces without much thought to how the new ones go with the existing décor. The least you can do is to ensure that your wooden furniture pieces have similar look and colour. Unless you have a strong artistic sense, try not to mix and match several styles as your home might end up becoming an example for interior décor disaster. Another common décor blunder that most of us are guilty of is ignoring the clocks in our home. An unattractive clock amongst beautifully done interiors can become a terrible eye-sore.
Remember style is always a subjective issue. People will always differ in their opinion about what’s trendy and what’s not. But knowing the most basic do's and don’ts of interior decor will help save you from major interior decor disasters.

To Know more about Prescon Realtors & Infrastructures Private Limited
Contact Us :
Address  :
201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi, Thane (W), Mumbai - 400601.
Telephone : 91-22-25985951–55
Email : prescon@prescon.in

Invest in property to save capital gains tax

When a property is sold, the gains are liable to tax. Investing the gains in another property within the stipulated time exempts you from this tax. In case you sold a property, you are liable to pay capital gains tax. Any gain or loss arising on transfer of a property is subject to tax provisions under the head 'Capital Gains'. According to the Income Tax Act, a 'capital asset' means property of any kind, which is held by an individual, whether connected with his business profession or not. Any property flat, house, building, site, farm house, commercial property etc is subject to capital gains on its sale transfer.

Gains from sale transfer subject to tax

It is not only the sale of a property that triggers capital gains. Even certain specified kinds of transfers are deemed as sale and any gain thereon is subject to capital gains tax. Transfer of property means an act by which one person conveys property to another. The income arising on transfer of a capital asset is subject to capital gains tax if there is a transfer of a capital asset during the previous year. A transfer is deemed to have taken place on the date on which possession has been given of the property. If payment is received but the transfer has not been effected it will not be treated as a sale transaction. Under the income tax law, capital assets may be of two types: Long-term capital asset, Short-term capital asset. In case a property has been held for more than 36 months, the capital gain arising there on is treated as long-term capital gains. In case the property is transferred or sold after it was held for less than 36 months, the income will be treated as short-term capital gains.
The period of holding of a capital asset determines its taxability whether it is a long-term capital asset or short-term capital asset, and accordingly, whether you have incurred a long-term or short term capital gain loss.

Arriving at capital gains

The exact amount of capital gains is arrived at by applying the Cost Inflation Index (CII).This index is published by the Income Tax Department. The present worth of a property is arrived at by applying the CII to the cost of the property as well as any improvements made to it. This is deducted from the sale amount received by the transferor from the transferee to arrive at the capital gains.

Avenues for exemption

Some tax planning can save tax under Section 54EC in respect of long-term capital gains. You can invest the gains in a residential property or in capital gains bonds. It needs to be ensured that the conditions prescribed under the Section are strictly complied with, or else the amount claimed as exempt can be made subject to tax.
Under Section 54 of the Income Tax Act, in order to avoid paying capital gains tax, you should have bought a residential property within a period of one year before or should do so two years after the date on which the transfer took place. You can also construct a residential property within a period of three years after the date of transfer. In these cases, if the amount of the capital gains is equal to or less than the cost of the new property, the capital gains will not be charged to tax at all.
In case the new house is sold within a period of three years of its purchase or construction, for the purpose of computing capital gains in respect of the new property, the cost will be reduced by the amount of the capital gains.

Capital gains account

The amount of capital gains which is not appropriated towards the purchase of a new property, before the date of furnishing the income tax returns can be deposited in a 'Capital Gains Account Scheme' with a specified bank. The amount should be deposited before the due date for filing the income tax returns.
The amount used for the purpose of purchase or construction of a new property together with the amount deposited in the account will be deemed to be the cost of the new property. In case the amount deposited in the account is not used wholly or partly for the purchase or construction of a new property within the specified period, the amount not used will be charged to tax as income of the previous year in which the period of three years from the date of the transfer of the original property expires.

Long-term bonds

Under Section 54EC, you can also invest the capital gains within six months of transfer in long-term bonds of the National Highways Authority of India and Rural Electrification Corporation of India Ltd. Investments in these during one financial year cannot be more than Rs 50 lakhs.

To Know more about Prescon Realtors & Infrastructures Private Limited
Contact Us :
Address  :
201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi, Thane (W), Mumbai - 400601.
Telephone : 91-22-25985951–55
Email : prescon@prescon.in

8 Factors to consider when finalising your neighbourhood

Assessing the suitability of a property’s neighbourhood is crucial from a homebuyer’s perspective. It is not just important to look for a home but a neighbourhood that has all the necessary facilities.
Buying a home involves a thorough research about the property you plan to purchase. However. it also involves a careful scrutiny of the surrounding area. The neighbourhood is as important as the property itself, especially if you plan to reside there. Compromising on a key facility in the neighbourhood for the sake of saving a few bucks may prove to be a wrong decision in the long run.
A good neighbourhood is important as it ensures a peaceful and congenial life for residents of the area. Value appreciation of a property in the long run also depends on the neighbourhood.
There are many factors that can help a homebuyer establish a neighbourhood's suitability. Connectivity to the city centre and distance from one’s workplace are among the most important criteria, Social infrastructure, security and civic amenities such as water and power supply are equally important parameters.
Here are eight factors that work to a locality’s advantage:

Roads

Wide roads and street lights are the first indication of the state of physical infrastructure in a locality. These ensure a hassle-free travel and convenient entry/exit from the area. Bad roads will discourage a customer from buying a property in such a location.

Distance from workplace

Time needed to reach the place of work from the property is now a key concern for homebuyers. Capitalising on this factor, many developers are now launching housing projects that boast of a walk-to-work culture. This has become a key advantage in todays scenario. Especially due to massive traffic jams in the city.

Metro connectivity

Accessibility of an area enhances its appeal for property buyers. With the metro network expanding in most of the major cities, homebuyers expect the prospective property to be at a reasonable distance from a metro station.
There, the partition walls between rooms instead of civil walls 6” – 8” thick are dry partitions of 2” – 3” thick. This saves space as well.

Civic amenities

Homebuyers look forward to ample supply of basic amenities such as drinking waterand power supply.

Schools and hospitals

There must be educational institutions, banks and medical facilities in the propertys neighbourhood. Absence of social infrastructure is sure to discourage end-users as well as investors.

Green spaces

Modern homebuyers are health-conscious and aspire for a healthy lifestyle. They - therefore look for green and open spaces in a residential project. The propertys neighbourhood must be environment-friendly and pollution-free. Noise pollution is also possible if the area is in the flying zone of an airport.

Shopping facilities

A neighbourhood that has markets and shopping malls goes a long way to make the area self-sufficient. This is also the reason for the emergence of mixed use projects. which feature residential and commercial properties in the same project.

Safety concerns

A locality that has a safe neighbourhood will be an obvious choice. On the flip side, high crime rate in an area will not encourage a homebuyer. Buyers must talk to local residents in order to get a comprehensive perspective on the area.
In addition to the above factors, development plans and projects in the pipeline are important as these will lead to healthy appreciation in the long run.

To Know more about Prescon Realtors & Infrastructures Private Limited
Contact Us :
Address  :
201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi, Thane (W), Mumbai - 400601.
Telephone : 91-22-25985951–55
Email : prescon@prescon.in

Maximising space efficiency

Architect explains how small homes are optimally designed in South East Asian cities.
While one is thinking of décor or design elements, ‘small’ is always beautiful. Hence, the smaller, the better it is. But can you imagine if the ‘smaller the better’ principle is applied to living spaces?
Well, if appropriately handled, this could be the answer to all our forthcoming congestion problems. Its meaning is plain and simple; can we make our living spaces small but efficient? Which in turn makes their purchase cheaper? Lesser the area means lesser the fit-out cost and maintenance thereon.
So what is wrong in this? Well, the answer is almost nothing. This is a well adopted formula in South East Asian cities like Singapore, Bangkok and Hong Kong since many years.
We are gradually moving towards making our spaces smaller or rather more efficient. Having seen various apartments of Hong Kong and Singapore, I have seen how efficiency makes things smaller.

Space savers

The biggest space savers are the deletion of lobby’s and passages which are unused spaces. The main door directly opening into the living or dining area is an avoidable situation but opening the door in reverse of the living side is an easy way out to reduce the lobby area.

Odd corners

While selecting an apartment, the layout must be closely studied. If the rooms are lined one after another in odd shapes, this automatically generates a corridor flanking the rooms which are unused spaces. Odd corners in the bedroom or living room will always remain unused and in turn, be dust gathering spots. If the building plan is rectilinear, this will certainly help in achieving efficiency.

Asian approach

In Hong Kong, bedrooms are taken at say 8’-6” x 10’-0” with 1’-6” ledge projecting out. This not only makes room look larger, but also doubles up as a sitting ledge-cum-display area, which adds to aesthetic value.

Furniture norms

Once the spaces become tiny, it is very important to look at equally lighter furniture and fit outs. The sofa set, instead of solid base, could be having exposed legs making it look lighter. Similarly, flooring in a lighter colour without much inlay and pattern that usually suit large spaces is preferred.
There, the partition walls between rooms instead of civil walls 6” – 8” thick are dry partitions of 2” – 3” thick. This saves space as well.

Lift lobbies

The lift lobby instead of having elevators one after another with dead wall in front can be two lifts opposite each other with a common lobby in between. These are effective space savers and keep areas efficient, lesser for buyer to pay, making it more affordable.

To Know more about Prescon Realtors & Infrastructures Private Limited
Contact Us :
Address  :
201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi, Thane (W), Mumbai - 400601.
Telephone : 91-22-25985951–55
Email : prescon@prescon.in

Buyers opt for homes in posh areas

The year 2015 has been a good year for homebuyers and bad for investors as property rates have remained static or even negative in some parts of Thane and Mumbai.
 
But posh areas such as Vasant Vihar, Hiranandani Meadows and Waghbil are what the home buyers are preferring as witnessed by three to four per cent price hike in these areas

According to the data provided by 99acres.com, while property rates have increased by just 1% in some areas of Thane and Mumbai, most of the regions have witnessed 3 - 4% price rise in the last quarter of 2015. And the most prominent price hike is in Vasant Vihar, Patlipada, Hiranandani Meadows, Kapurbawdi, to name a few.

“While areas like Majiwada have seen just 1% growth in property prices due to heavy inventory, transactions are high in Hiranandani Meadows and above mentioned areas,” said Jitendra Chauhan, vice-president, sales, 99acres.com.

“This is because the real home buyers are coming forward to buy homes in these areas which have ready-to-occupy flats,” he adds.

According to a real estate consultant the reason for movement in the above areas is because of real home buyers. “People want to stay at a good place and it is these people who are drawing the demand in the areas. And only resale is happening,” he said.

Thus, the above areas have seen price hike of Rs500 per sq feet and above.

To Know more about Prescon Realtors & Infrastructures Private Limited

Address  :
201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi, Thane (W), Mumbai - 400601.Telephone : 91-22-25985951–55
Email : prescon@prescon.in

Stamp Duty on Property Won't Rise for 3 Months

Some good news for property buyers. You can save on registration fee and stamp duty for the property you have just bought or plan to buy during the first three months of 2016.

This year, the hike in ready reckoner (RR) rates will be effective from April 1, 2016. In other words, current rates will continue till March 31. For the first time in the history of the state's financial affairs, the new RR rates will come into effect from the first day of the financial year instead of the calendar year.

"We will announce the new rates on April 1. We cannot tell the range of the rate hike now as we will have to consider property transactions during the January 1 to March 31 period before calculating and announcing the new rates," said stamp duty and registration officials. Stamp duty experts say the hike could range from 15% to 30%.

At the end of every year, there is always a rush at registration offices due to the hike in RR rates from January 1. This year, the scene will be different. Sources said the government might also think of permanently shifting the RR rate hike every year to April 1 instead of January 1. "The governor may soon sign a notification to extend the hike by three months," said sources.

The RR rate is the base rate that determines the market value of a property on which the government collects stamp duty and registration charges in the course of a property transaction. While stamp duty is 5% of the ready reckoner or market rate, whichever is higher, registration charge is 1% of a property's total value. Since these are calculated based on RR rates, hike in the rates implies an additional burden on property buyers.

Meanwhile, government officials said the administration was thinking of hiking RR rates only for major urban centres whereas for areas such as Marathwada and Vidarbha, where property registration was poor, the hike could be negligible.

Some officials with the department of registration and stamps said they had recommended a moderate to low hike, but the state government has decided to delay its implementation to boost the sluggish property market.

Source: magicbricks.com

GHODBUNDER BYPASS, METRO WORK TO TAKE-OFF IN 2016

The year 2016 seems to be good for Thane as the city is set for better infrastructure. It will get Ghodbunder bypass road and the work for Kasarvadavli-Wadala Metro is also likely to take-off.

Next year, Thanekars can be hopeful of less-clogged streets as the work on Ghodbunder bypass road, adjacent to Gaimukh to Balkum creek, is likely to begin. This 200-metre-long and 45-feet-wide road will be constructed at an estimated cost of Rs313 crore. It will take care of the heavy vehicle traffic movement that comes from Ahmedabad highway.

“The proposal was approved by the MMRDA, but required an NOC from the defence ministry as the road is adjacent to Navy’s Akbar Camp,” said Thane MP Rajan Vichare.

Vichare met defence minister Manohar Parikkar and explained the situation. “I explained to him that we will make the road without disturbing the boundary wall of Akbar camp. Parikkar told us that he will give the requisite permission soon,” added Vichare. If this approval comes, it will improve the traffic situation on the stretch to a great extent.

In another development, work for Thane Metro from Kasarvadavli to Wadala is likely to start before the next budgetary session of the legislative assembly. “Earlier, there was a proposal to have an underground Metro. But consultants appointed to study the project suggested that this would push up the cost as well as time,” said MLA Pratap Sarnaik, adding, “So, it has been decided to go for an elevated Metro.”

Earlier, chief minister Devendra Fadnavis had said the work on Thane Metro will start by December 2015. But this did not happen and as a mark of protest Sarnaik staged a hunger strike at the winter assembly session in Nagpur.

He demanded that Metro is the need of hour in Thane due to ever-increasing population. “The honorable chief minister promised that the work on Thane Metro will start before next assembly budget,” said Sarnaik.

 Source: dnaindia.com