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Over a past few years, development and infrastructure have seen a huge progress in Kolkata. It has witnessed a major change in the real estate sector. Real estate developers in Kolkata are coming up with never-seen-before projects in the city of joy and in the outskirts tagged with latest amenities that will compel the home seekers to get perplexed to choose between any one of them. What makes them more irresistible is their affordability. Luxury projects are now affordable too. With the latest declarations made by the Government and RBI, affordable housing has taken a new turn. These apartments in Kolkata are the epicentre for real estate investments that also attract home buyers who want to avail home loan facility for easy transactions.

In an attempt to promote low cost and affordable housing, RBI has revised the housing loans as Priority Sector Lending. PSL provides cheaper rates of interest than other home loans.

Presently, residential projects under 35 lakhs in metropolitan cities and 25 lakhs in other centres are considered under priority sector lending. These are eligible for loans up to 28 lakhs in metropolitan cities and 20 lakhs in other centres.

I a recent declaration by RBI, housing loans that qualify under PLS have been revised to 35 lakhs and 25 lakhs in metropolitan and other centres respectively. However, housing units with an overall pricing of more than 45 lakhs and 30 lakhs in metropolitan and other centres respectively, shall not be treated under priority sector at all.

In keeping with the Pradhan Mantri Awas Yojna, the loan facility are made available to the Economically Weaker Sections and Lower Income Groups with an annual income of 3 lakhs and 6 lakhs from 2 lakhs per annum.

How will this affect the residential real estate sector?

The financial year 2018 has seen a growth of 16% in the housing credit sector which has led mortgage penetration to 10% from 9.5% for the first time. The affordable housing segment has reached 39% housing credit in March 2018 with the invasion of some eminent real estate developers in Kolkata coming up with attractive offers and projects in the suburbs too. As predicted by ICRA the overall Non Performing Assets shall not exceed 1.5 per cent in this financial year.

With increasing desire for owning a home that is affordable and luxurious at the same time, many junior and mid-level executives looking for well-connected housing projects will be highly benefitted from the revised loan structure. Especially those buying a home for the first time belonging to the EWS and LIG section can now avail these schemes. This, in turn, shall boost the demand for real estate investments in the affordable housing sector.

Love the greens but have limited space that cannot accommodate big plants? Well, let not the scarcity of big open spaces be a hindrance to grow your own garden. Indoor gardens have been in practice since Victorian times for those who are inclined to nature. For those living in small apartments in Kolkata, indoor gardening is an only feasible method to create an imitation of a natural open garden.

WHAT YOU NEED TO KNOW ABOUT INDOOR GARDENING

LEARNING BASICS BEFORE TAKING THE FIRST STEP

Research is the only way to learn gardening tips and methods of growing indoor plants in confined spaces. Figure out which sapling is suitable for your available space and apt keeping in mind the lighting of the area. Herbs, Cacti and Bonsai are very easy to accommodate and set up indoors. Growing herb garden is advisable that involves no trouble and conveniently set up indoors giving an interesting makeover to your home. If you have never grown plants indoors, make sure you have read enough and are confident with what you have learnt and only then begin collecting saplings.

KNOW THE SOIL REQUIREMENTS FOR EACH PLANT TYPE

Proper selection of soil and determining soil weight is critical to maintenance of indoor plants. Consistency, drainage amount, nutrition retention along with cost effectiveness is very important while choosing the right soil type. How much moistness of soil is ample for the plant type also needs to be taken into account while planning for indoor gardening. The soil and PH level requirements differ for each plant type. Some plants may require disposable soil at the beginning or end of each season while some others can grow in the soil used once. The soil should also have enough micronutrients and natural decomposers for healthy growth.

ARRANGING PROPER LIGHT WHEN STAYING SMALL APARTMENTS IN KOLKATA

Kolkata is a hot and humid city in the summers stretching for most of the time in a year. This makes it difficult for certain indoor plants to grow healthily unless they are exposed to proper light for certain duration. For instance, some herbs and plants like lettuce cannot grow when exposed to too much sunlight as they have low light requirements. Decide on what light to use for your choice of the plant first. If you have big windows with ample sunlight availability at particular times of the day that suits your requirements, it is possible to depend on that alone. However, if that is not the case you may have to opt for artificial lighting sources like light reflectors and LEDs.

DO YOU CHECK THE SOIL BEFORE WATERING YOUR PLANTS?

The most common mistake that beginners commit is overwatering. Drenching the plants with excess water is not a good idea as it shocks the roots and kills the plant before it even it starts growing. Make a habit of checking the dampness of the soil every time you go for watering. The plant may not require watering on rainy days at all while it may need to be watered frequently on hot and dry days. Once you see water dripping from the bottom of the pot take it as a signal to stop pouring anymore.