Modi Builders Feedback

What are the factors that influence a home buying decision in India? Besides a property’s location, its price, size, style and brand, there’s another criterion that seems to have a significant impact. A study by Housing.com, has revealed that 93% of home buyers seek Vastu Shastra-compliant homes. The study revealed the following key facts, about home buyers’ disposition towards Vastu and its compliance: In terms of the layout of a property, buyers’ were primarily concerned with its ‘direction’ (33%), followed by ‘set up and arrangement’ (30%), ‘positive impact’ (20%) and ‘ventilation/flow of energy’ (17%). Across India, requests for Vastu-compliance were highest from the southern regions, followed by the north, east and west (least). On the basis of size of the family, joint families showed a greater inclination towards adopting Vastu, with over 70% in favour of the practice. Middle-aged individuals, as well as consumers who were more prone to taking risks, such as businessmen, were also more inclined towards adopting Vastu. Over 65% of businessmen sought Vastu-compliance, as compared to 30% among other professionals. Experts believe that Vastu plays a huge role, while buying residential as well as commercial properties, nowadays. Buyers tend to proceed without hesitation, if the property complies with Vastu norms. Many second-time home buyers look for new properties, purely to move into a home that meets Vastu standards. Is it always possible to comply with Vastu norms? “It is possible to plan and construct all the flats in a project, according to Vastu norms but the cost per sq ft may escalate by 4% to 8%,” explains Vikash Sethi, MD of a2zvastu.com. “To meet Vastu norms, builders may need to sacrifice some carpet area. Consequently, real estate developers normally prefer to comply with Vastu norms for 60% to 70% flats in a project. Existing units that do not adhere to Vastu norms can also be corrected, using traditional and modern correction steps and virtual balancing methods. Energy pyramids of specific size and material, metallic wires, reflective/non-reflective mirrors, etc., are used for this purpose, depending on specific requirements. Such methods are not very expensive and buyers can easily implement the same. For advanced corrections however, buyers should only approach well-recognised and expert Vastu consultants,” advises Sethi. Adopting the correct approach “There are numerous myths when it comes to Vastu – for example, there should not be any toilet above the bedroom or puja room. While checking Vastu aspects of a flat, owners should consider their own floor area and ignore floors owned by another person, i.e., areas above or below,” explains Narendra Jain, an expert at Arihant Vastu. Here are some pointers that Vastu experts suggest, to ensure that home buyers follow the correct approach: Focus on some core areas, like direction of entry to the main premises, position of the kitchen and master bedroom, and the shape of the plot/flat. Entry from north, east, north-east, north-west and west, are considered good, whereas, one should avoid entry from the south and south-west directions. There should not be any cut in the corners of the flat/plot. The kitchen should not be in the north-east or south-west direction of the flat.  

Investing in your long-yearned dream home is not just based on one single decision. It is an amalgamation of various factors which play an essential role in your hunt for the perfect haven. Family aspirations, personal motivations, financial limitations and prevalent policy and real estate norms - all of these impact your decision in one way or another. Choosing the right property is extremely important and to help make this decision easier for you, here are some pointers that you need to bear in mind before you make up your mind to property investment. Amenities provided: Evaluate various aspects of the project like the master planning and amenities provided. Real estate developers these days are getting international expertise to master plan their project and consumers can get a feel of it by going through the master plan. Many projects these days focus a lot on sport and health based benefits. Features like Golf based themes, sports complex, health clubs, tennis courts and swimming pools are incorporated by many developers for the well being of consumers. Important features like 24/7 Power back up, security back up, shopping arcade, entertainment centers, etc are points that should be a part of your check-list. Location of the project: Location of a project is very important. The real estate development in the surrounding areas and the connectivity of the project to important centers in the city like school, hospital, bus and rail services, shopping complex, etc. is something the buyer should first look at before planning to invest. Developer’s legal background: Taking keen interest in knowing the legal background of the developer will help the buyer ensure that the developer has not been in any legal hassles. Be aware of fly-by-night operators: Investors must be wary about fly-by-night operators and even the more established players who are unable to fulfill their commitments to the buyers. Financial stability of the developer: The reason why you need to keep a track of the financial stability of the developer is because it determines the credibility that the developer enjoys in the market. Listed firms have an edge over other real estate companies as they are under the scanner of Securities and Exchange Board of India (SEBI). They mandatorily follow principles and guidelines issued by SEBI and are required to submit financial statements. This allows customers to form their own perception of the developer. Due to better corporate governance and audited financial statements, such listed real estate firms have better chances of sourcing funds from financial institutions, provided they are performing well. Transparency and accountability of the firm: The state of a listed company is more visible to the buyer and it can help in taking a comprehensive investment decision. A listed firm provides higher transparency and accountability as its activities directly impact its share prices. Aspects such as financial leverage, delivery versus commitment, internal and external focus, etc should be carefully studied. Regulatory approvals are in place: Make sure that the title to the land that of the project and all the regulatory approvals are in place. This needs to be done irrespective of the nature, size and reputation of developer. The buyer should insist on verifying all documents pertaining to land title, approvals of building plans and commencement of construction. It is always a good idea for a group of buyers to get together and hire professional legal expertise to get due–diligence done. Developer’s track record: The track record of the developer in delivering projects is a key criterion while buying property. Amount of space delivered, timelines for delivery and quality of work produced is critical for the buyer to analyze. A developer with an impressive track record will surely deliver better than any other developer. ‘Tech-savvy’ developer: With technology leading the way everywhere, a consumer is sure to enjoy more benefits if he chooses a tech savvy developer who is always implementing the latest technology in not just construction but but also in the various amenities provided to the consumer.The final investment decision of the customer should ideally be a combination of credibility of the company, an assessment of the project fundamentals and his understanding of the market situation.