Ways To Reduce Energy Consumption

By adopting energy efficient ways, one can save money and electricity without giving up the comforts of home – whether you live with your parents, rent an apartment or own a house.  The smartest, economical and potential environmental action you can take is to conserve energy.By saving energy, you save money on your power and gas bills and you also save the planet by producing less carbon dioxide (CO2), the prime contributor to global warming and other pollutants.

Let’s look at the ways on how one can save energy:

Home appliances

Refrigeration:

Refrigerators account for about 20% of household electricity usage. Set your refrigerator temperature to about 38-42 degrees Fahrenheit and your freezer near to 3 degrees as possible. If your fridge has a power save switch, turn it on. Make sure the door seals tightly and keep the door clean. If you leave your fridge door open, it tries to cool down your whole room, using large amount of energy.

In order to run the system efficiently, you need to defrost your fridge or freezer regularly. Do not keep your refrigeration equipment near to other heating devices. If your fridge/freezer is next to a hot appliance, then it has to work even harder to keep your food at the apt temperature, using more energy, wasting your money and leading to carbon dioxide emissions.

Laundry:

Washing with cold water can cut 80% to 90% off running costs. Use lower temperature on your washing machine. Modern washing machines are effective at lower temperatures. Wash clothes at 40°C rather than 60°C, this will reduce carbon emissions by a third. Always remember to put full loads in washing machine. Hang clothes outside to dry rather than in a tumble dryer. Tumble driers use large amount of energy so by drying your clothes naturally will reduce carbon emissions.

Turnoff appliances when not in use:

Turn television, games consoles, computers, mobile phone and other chargers off at the power point when not in use. This can account for up to 10% of your power bill. These appliances if left on standby pump one million tons of carbon into the atmosphere each year. The waste energy could power tens and thousands of homes. Don’t leave appliances charging unnecessarily.

Home improvements

Insulate walls and ceilings:

By doing this, you can save up to 35 percent of home heating bills and thereby lessen carbon dioxide emissions. In cold climatic conditions, consider super insulating. This can save up to 5.5 tons of carbon dioxide per year for gas-heated homes, 8.8 tons per year for oil heat, or 23 tons per year for electric heat.

Remodel windows:

Using argon filled, double-glazed windows can save 2.4 tons of CO2 per year for homes with gas heat, 3.9 tons of oil heat, and 9.8 tons for electric heat.

Plant shade trees and paint your house:

If you live in warm climatic conditions, paint your house with light colour and if you live in cold climatic conditions, use dark colours. Shade trees can reduce energy consumption and apt painting can save up to 2.4 tons of carbon dioxide emissions per year.

Weatherize your home:

This can be done by using weather stripping to plug air leaks on doors and windows. This will reduce carbon dioxide emissions per year for a typical home.

Control home temperature

Home heating and cooling:

a)     Install ceiling insulation

b)    Set your thermostat at 68 degrees in daytime, and 55 degrees at night during winter

c)     Set thermostats to 78 degrees or more during summer

d)    Clean or replace air filters; by cleaning a dirty air conditioner filter can save five prevent of energy consumed

e)     Set thermostat of water heater between 120-130 degrees; lower temperature can conserve more energy

f)      During summer, close windows and blinds to keep the heat out

g)     Use fan instead of air conditioners during summer season

h)    Close curtains to lessen heat loss during winter

Reduce, reuse and recycle

Buy minimally packaged goods to reduce the amount of waste produced. Choose reusable products over disposable. Recycle whenever possible. When you eliminate or recycle waste, you are saving energy and reducing carbon dioxide emissions. Also if you cut down your garbage by half, you are saving a huge amount of carbon dioxide emissions. Use products made with recycled materials.

Crafting A Dream Home : Best cities to live in India !!

Crafting A Dream Home : Best cities to live in India !!: India has evolved from being known as the land of temples and bullock carts to the outside world. Rapid urbanization has changed the cou...

Best cities to live in India !!

India has evolved from being known as the land of temples and bullock carts to the outside world. Rapid urbanization has changed the country’s landscape in the post independent era. Better job opportunities, standard of living and infrastructure facilities draw population to live in the cities. Apart from the four metros- Delhi, Mumbai, Kolkata and Chennai – which had been known as urban face of India since the British Raj, new cities have come up as dream destinations for Indians.

A recent survey has been conducted in order to rank Indian cities based on various factors such as mobility and public transportation, cleanliness, clean drinking water, public amenities, urban planning and design, pollution/greenery, crime and safety, bureaucracy, citizen participation, etc. The parameters are categorized into two categories – city systems and quality of life. Let us take a look at the top 10 best cities to live in India.

1. Surat: Surat has been ranked as the best city to live in India. Known as the Diamond capital of India, the Gujarat city has been featured as one of the fastest growing cities in the world. Voted as among the three cleanest cities of India in 2011, Surat is a commercial centre. The city is easily accessible from Mumbai and New Delhi and it has direct connectivity through trains and airways with all the parts of India.
2. Pune: Pune is ranked as the second best city to live in India. It is the second largest city of Maharashtra after Mumbai. It is regarded as the cultural capital of Maharashtra. It is also home to various manufacturing industries and is fast becoming an IT hub. Excellent educational facilities have been attracting students to Pune from all over the country. Due to its proximity to Mumbai and also due to the pleasant weather, Pune has become one of the top residential destination for Indians.
3. Ahmedabad: Gujarat capital has been a story of astounding development of infrastructure and civic amenities. Known as ‘Manchester of the East’ due to its prosperous textile industry, it is the fifth largest city in India. Ahmedabad was preferred for both its city systems (urban planning, citizen participation,etc) and quality of life (greenery/pollution, transportation and mobility, etc). It has been chosen by the leading English daily as the best city in India recently. Ahmedabad is leading way ahead of other Indian cities in terms of urban planning.
4. Mumbai: The financial capital of India is at the fourth spot, ahead of other metros. Mumbai is the fourth most populous city on earth and has the highest GDP in central, west and south Asia. Opportunities and better standard of living draw citizens from all corners of the country to Mumbai. Public transportation is dependent on suburban railway trains known as locals, which connects people from surrounding cities of Navi Mumbai and Thane to the island. Mumbai Metro and monorail are under construction. New airport has been proposed in Navi Mumbai to enhance the connectivity further.
5. Chennai: The biggest city in South India takes up the fifth place in the list. Chennai boasts of good infrastructure and development is expanding fast into the Chennai suburbs. Declared as the most livable city in India by Institute of Competitiveness, Chennai is called the ‘cultural capital of South India’. It has been an educational, economic and commercial hub in southern part of the country. Many industries like hardware, manufacturing, IT and healthcare services have a strong base of here. The economy is also boosted by the fact that Chennai is the hub of automobile industry in India.
6. Kolkata: Kolkata, the city that was the capital during British Raj, is the third largest urban agglomeration in India. It is the third most populated city in India. Although the city suffers from urban problems like over population, poverty and traffic congestion; it is also the city attracting influx from all over the country. The cost of living is considerably lower than other metros and educational, economic and job opportunities draw the population to Kolkata city.
7. Jaipur: Jaipur in Rajasthan is ranked seventh in the list. Known as the Pink City, Jaipur is one of the biggest exporter of diamond, gold and stone jewellery in Asia. The city is a mix of traditional as well as modern industries and is a well known tourist attraction, too. It is also been ranked among top 50 emerging global outsourcing cities in the world.
8. Hyderabad: Hyderabad, touted as the first hi-tech city of India, lies on the 8^th place. The IT/ITeS Special economic zone in the city has attracted global companies to Hyderabad. It is also home to India’s pharmaceutical and bio technology industry. The city scored high in urban planning and saw considerable preference for quality of life – greenery, clean water, traffic, transportation, etc. Although the recent political turmoil over Telengana issue casts a shadow over the city’s real estate, investors still prefer the city for the job opportunities and growth potential.
9. Bangalore: Known as the ‘Garden City’ of India, Bangalore finds itself on 9^th spot in the list. The city is hub of India’s IT/ITeS sector. Influx rate is constantly going higher due to increasing job opportunities. Standard of living is high and the city accommodates a mixture of population from all over India. Young professionals flock to the city in a high number and the pleasant weather and public transport convenience acts as favourable factors. Bangalore has also been voted among the top 10 global entrepreneurial cities.
10. New Delhi: The capital of India is a centre for economic, political, commercial, finance and research activities. Public transportation got a big boost after the metro came up and urban planning in New Delhi seems to be on the right path. Many satellite cities in the National Capital Region offer bright job and business opportunities, making New Delhi the centre for all the activity. Delhi has excellent connectivity with adjoining Noida, Gurgaon, Greater Noida, etc.

Benefits Of Investing In Pre-launch Residential Projects

Regardless of the state of the economy, associated market sentiments and on-going funding trends, developers need to generate initial capital to successfully launch and complete their projects. Only by doing so can they maintain the kind of churn that makes the real estate development business profitable.

However, lending to the real estate sector is currently in a low-sentiment phase. Interest rates are high for funding that is still available, and some developers do not meet the required eligibility norms for funding at all. In such circumstances, they may seek to raise interest-free capital from the market by pre-launching their projects.

A pre-launch (or ‘soft’ launch) is a situation where a developer apprises an inner circle of brokers and investors of the availability of properties in a project that has not been officially put on the market yet. Word of such an arrangement spreads by word of mouth and via email, but does not figure on the developer’s website or in other marketing media. The kind of buyers who show interest for pre-launch projects are usually opportunistic investors and end-users who seek to benefit from the price advantage and can wait for a couple of years before getting possession of their flats.

Investing in pre-launched projects is a high-risk undertaking which can pay off as long as one has factored in all possible variables. It makes most sense to investors who have a high risk appetite and the ability to weather an eventual setback. Investing in pre-launches is, generally speaking, not a route that end users are advised to take unless there is a high degree of certainty implied in the builder’s brand and track record.

The price advantage of buying into a pre-launch project can be anything between 5-20 per cent depending on various market factors. However, the high risk factor must not be ignored. The project may not be cleared for home loan approvals, or the developer may not have obtained all the required permissions for the project. Also, the funds generated by pre-launching the project may not cover the total cost of construction and the project may be delayed or even shelved.

Investors into pre-launched projects need to do a fair degree of due diligence before deciding to go ahead:

• They must establish whether the builder has free and clear ownership of the    land on which the project is being built. An agreement between builder and the original owner of the land is not sufficient.

• The project needs to have a IOD (intimation of disapproval). This is a set of instructions that a developer needs to comply with so that he can legally construct the project. The IOD is valid for one year and needs to be reissued if the project has not been completed in a year’s time.

• The project also needs to have a commencement certificate in place.

While considering a pre-launch option, it is certainly necessary to establish the trustworthiness of the builder. This includes investigating his track record for transparent dealings and compliance with legal formalities, his overall track record for timely project completions and the magnitude of experience he has had in the industry. Established builders with good reputations in the local market are generally safer bets, since they are able to bring in the necessary approvals and attract a healthier response from the market. The latter fact is important because the developer’s ability to complete the project depends at least partially on bringing in a certain critical mass of sales when he pre-launches a project.

Ammul Goel - MD , Pushpganga Ventures , Pune 

E-auction Of Properties Gathers Pace !!

Electronic auction or e-auction of properties is picking up in the country as buyers and sellers are preferring this route to save brokerage fees, time and effort. Commercial banks in India are expected to sell over a lakh non-performing assets (NPAs) or properties in the financial year 2014 through the e-auction mode, according to NPA source.com, a portal that specialises in resolution of NPAs.

“E-auction is preferred by government organisations and departments. Some private companies are also active on this mode but they prefer the close/open bid process over the e-auction mode”, says Om Ahuja, CEO (Residential Services) at Jones Lang LaSalle India. In recent times, we have seen few private or public listed corporates preferring this route and the growth perspective looks good as buyers don’t have to pay any brokerage for such deals, he adds.

E-auction is a process that provides complete confidentiality in terms of price discovery mechanism. DK Jain, CMD of Atishya Group, owner of NPA

source.com says, “E-auctions offer multiple advantages like lower cost, greater participation, saves time and allows better price realisation for banks. Any interested party from India or abroad can register themselves under the RBI regulations and participate in an e-auction of NPAs unlike the physical auction system where the interested parties have to travel to the venue where it is going to take place. This automatically leads to a significant increase in the number of participants, reduces cost and eliminates or curtails manipulation by small cartelised groups.” NPA source.com had 23,000 plus registered properties worth over Rs 21,000 crore.

The Banking sector in India is currently under immense pressure as NPAs or bad loans are growing drastically. The focus of most of the banks now is on recovering these dues as it has started impacting their profitability and margins. According to NPA source.com, the net NPAs of 40 listed banks which stood at Rs 61,558 crore as on March 2012, surged to Rs 92,398 crore as on December 2012.

With the Finance Ministry making it mandatory for all commercial banks to move from physical auctions to e-auction mode for all NPA cases under the Debt Recovery Tribunal, there will be a spurt in e-auctions in the financial year 2014.
Divestment s by corporate and government institutes are the key drivers in this space. However, the e-auction mode is not easy for a common man to participate and requires good understanding of processes that involves legal complexities.

Buying your first home? Some Specifics That You Should Know !!

Paying rent month after month can be very exhausting business. So one fine day, you wake up with the desire to own your home to get relieved from the whole rent house business. Despite the strong need, umpteen thoughts run in your mind before you take the big leap.

After all, the thousands of questions that pop up in your mind are only too natural if is your first time in home investment. You might fear not to mess up and for everything to proceed the right way. We assure you, it is completely normal to feel that way! You are probably making the most important financial investment of your life and spending too much from your pocket to make a hurry burry decision.

When you feel informed about the whole home buying process, your confidence and sense of what you want and whom you should approach to get it all done, will obviously shoot up. Lucky for you, you are in right hands. Let's get started to help you buy your first home!

Are You Cut For Buying Your Own Home? 

Generally, before making a home investment, people go through a phase as there are lots of important decisions to be made. Anxiety and fear might tow you for quite some time. That is why it is important to analyze and rationalize  the whole act before taking any quick decision. Owning a home, can be easy for one, a struggle for some and a totally impossible feat for others. It is sensible to think it all out and see where you stand before you have already made the big leap and find yourself in a fix.

• Renting vs. Buying: Sometimes, you might feel that renting is a better option compared to buying a house, as it has its setbacks.
• Prospects Of Buying: While there may be a few drawbacks in making a home investment, it is not without its benefits. It is important that you realize and acknowledge its good side when you make the decision to move forward with the plan and keep in mind the same when you come cross  gray areas in the process of buying a home.

Fine Tune Your Financial Planning 

Sit and work out the budget and the resources in hand. Set aside a down payment and view all the loan programs that are available for the purpose. When you have all the figures in hand, you will get a clear picture on how much you can afford and what it will cost to make the investment.

• Get A Free Credit Report: It is important that your credit is free of any debts. If you do have unpaid loan balances, try to get it all cleared before going for home buying.
• Find A Lender: Begin with your own financial institution and then later check on mortgage brokers who are willing to lend you loan at reasonable interests. Compare the prices and opt for the plan that not only best suits your requirements but one you understand well as well.
• Fix Your down Payment: The higher your down payment, the lower your mortgage will be. To avoid being taxed with heavy interests, maximize your down payment as much as possible.
• Consider FHA Loans: It's worth considering this option, as it has reasonable down payment requirements and lets the sellers to pay either part or even all of your costs.
• Acquire A Pre-approval Letter: When you approach the seller with a pre-approval letter for loan purposes, you have better chances during negotiation.

Choose A Real Estate Agent To Assist You Home Buying 

You might think why you even need a real estate agent when everything is accessible online itself. One local market varies from the other in more ways than one and  a good agent will be able to guide you in making the right decision with his knowledge and expertise.

• Why Hire an Agent? An agent who has been in the field for quite some time would have gathered vast knowledge about real estate. He or she will be in a better position to help you avoid making mistakes such as choosing the wrong property or paying more than its worth.
• Find a Real Estate Agent: Take the help of your friends and relatives in this process. A referral is always a good choice, as they are being recommended by someone who is satisfied with their work. But, before starting to work with that person, make sure that you are comfortable with the suggested person too.
• Play By The Rules With Your Agent: It doesn't mean that you should follow the commands of your agent. After all, he is there to cater to your requirements. But there are certain protocols that you should follow and make sure that you do not say the wrong things in your desperation to get a good home soon.

Prevent Committing Home Buying Mistakes 

As always, the best way  to learn this is by getting an insight from the mistakes made by others. The best defense that you can charm to be on the safer side is by buying a home in the most desirable location.

• Tips For First-Time Home Buyers : Begin with online property hunt and do not go for print because, most of the reputed ones won't be advertised in newspaper
• Take A Look At The Homes For Sale: You should take a good look at the houses that are put for sale in person and ask your real estate agent to do the same before showing the property to you. Also, make a tour only when the parameters suit your requirements.
• Draft A Safe Contract: If you want to protect and safeguard your hard earned money, then you should never make the blunder of writing contingencies into your crucial contract.

Negotiate Like A Pro 

Who said you cannot negotiate when it comes to home buying? Home buying may not be like car buying, but it is never wrong to try your luck by negotiating to strike a deal with a good price.

• Negotiating Tips: There are many factors to consider in home buying. Price is always not the major criterion. So, when you see a good property that suits your every requirement but is slightly more than your planned budget, then quote your offer. If the sellers are unwilling to budge to your offer, then think in terms of the value that is attached to the property. If you think that you can manage their quotation and feel that the property is worth the take, then go for it.
• Facing Multiple Offers: It is a common scenario to be faced with multiple offers. But take a cautious step and analyze every offer before finalizing one. Make sure that they satisfy you completely and add good value to your investment.

Never Fail To Do a Home Inspection And Read Disclosures 

Home inspection is a very vital procedure you need to follow before making a purchase. The disclosures that you receive should be governed by the law, which differs from state to state.

• What is Home Inspection? It is a legal procedure carried out by authorities  to make sure that the house is in good condition from foundation to roof. A word of go from authorized personals will add a sense a security and value to your investment.
• Material Facts: Sellers often do not notify buyers on the defects in the property. It is in your hands to make sure that you are not kept in the dark.
• Conduct A Final Walk-Through: Before closing the property, do a final walk-through to check whether it is in the same state as it was when you agreed to buy it.

Final Step In Closing Your Home 

Usually, 30 to 60 days after accepting your offer, transactions will be closed. Do not forget to book the transportation to move your things earlier, as many people tend to make a move at the end of the month.

• Home Insurance:  Look for the insurance policies that offer you the best rates and choose wisely. Usually, the firm insuring your automobiles will close the best deal for your home as well.
• Title Insurance Policy: Individuals often overlook taking a title policy. On the other hand, this mode of policy is the cheapest form of policy available and you also get to make a premium payment only once.

Real Estate Demand On A Growth Path !!

Real estate in India: Through dark days

Real estate in India has been going through a lean patch since the last few quarters. 2012 had been a distressing year for the reality sector, fraught with dropping sales and increasing number of unsold homes. However, with festive spirits round the corner, weather is looking to brighten up for the sector.

In 2012, real estate transactions in ten major cities in India – Delhi-NCR, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad, Cochin and Chandigarh, have remained stagnant. High interest rates and inflationary pressures have strangulated real estate demand and residential absorption came down by 6% on an average on a year-on -year basis in 2012. Developers also went slow with project launches as a reaction to sluggish sales.

Current reality scenario

New launches are starting to creep up after a lull. At present there are 492 new real estate projects being offered in Mumbai. Of the 492, almost 120 are in ready to move in condition. The number of properties on offer stands at 539 in Delhi-NCR, 536 in Bangalore, 331 in Pune and 387 in Chennai.

Big developers are launching high end luxury apartments in the top cities, with developers looking to cash in on high margin in high end projects. It is a considerable departure from earlier trend of concentrating more on affordable market.

However, considering the still grappling economy, the money that has to be paid upfront while buying a home has remained low. The 80:20 model is in vague where the buyer needs to pay only 20% of the property price till the home is ready to move in.

Real estate market provides good opportunity for investors as developers are coming up with pre-buying offers in cities like Delhi and Mumbai. A total of 517,365 units are expected to be delivered in 15 cities this year.

Future demand for real estate

With the economic landscape of the country improving gradually, a 5%-7% rise in absorption level is expected in 2013. Accordingly, despite battling slowdown, the reality projects seem to be back on a roll in the Indian cities. The developers are coming up with various festival discount offers and pre-launch offers. Records show that the first three months witnessed growth in new launches across the cities.

Investor ridden markets of Delhi-NCR and Mumbai holds the key to growth of real estate in India. During 2013-14, around 840 million sq. ft. is pegged to get absorbed across the major 10 cities. Of the total absorption, NCR and Mumbai will account for nearly 58 percent. Till 2015, a total supply of 1.5 to 2.1 billion sq ft space is expected; of which NCR and Mumbai will account for 43% and 13% respectively.

Analysts have predicted an average price rise of 6-7 percent on year-on-year basis in 2013 in the top 10 cities. In the coming two years, improved demand for real estate will see the highest price rise in the cities of NCR, Pune and Hyderabad. While Pune is expected to witness a compounded annual growth rate (CAGR) of 9% till 2014; Hyderabad will grow at CAGR of 10%. NCR and Mumbai will also see a CAGR of 8% till 2014.

Improved macro economic scenario will propel the developers to resort to innovative tactics to push sales and as buyers come out of their ‘wait and watch’ mould, real estate seems to be moving towards a brighter tomorrow in India.