One of the most important features of a residential complex is waste water management. With the rapid urbanisation in the country, the need for fresh water is a growing concern with not many resources to meet the need.

What is Sewage Treatment Plant?

It has been observed that 80% of the water that is utilised for domestic purpose comes out as wastewater. If left untreated, this results into water pollution. New residential projects in cities have adopted the evolving technologies that can treat the water to make it reusable for flushing toilets, watering plants and non-potable purpose. This process is called STP (Sewage Treatment Plant).

The year 2020 was a challenging year with many industries and markets suffering due to the pandemic ensuing the lockdown. But markets have subsequently bounced back and in fact booming in 2021, the growing trends among home buyers has been to invest in homes closer to their workplace in an affluent neighbourhood. 4 in every 10 potential home buyers are now planning to purchase premium to luxury properties in top residential markets such as properties in Worli, Lower Parel, Dadar.

The pandemic reinforced the need to own a home as a haven for their family. This significance drives the demand for spacious luxury homes that accords today’s growing need for health, wellness, education, work from home/workplace.

It is essential to translate that ‘luxury’ or ‘premium homes’ are not just by the prime location but lately, also through the listing of various sustainable features and amenities offered by the real estate developer.

When you buy your dream home, you wish to customise it so that it reflects your lifestyle and taste of living. The freedom to customise your apartment as per your lifestyle has resulted in the popularity of bare shell apartments among the millennials. Most of the new residential flats in south Mumbai especially the 3 BHK flats and 4 BHK flats in Worli, Dadar, Prabhadevi avail bare shell apartments.

Traditionally, most real estate developers would provide bare shell apartments since the home buyers of these luxury apartments prefer it to be bare shell for its customisation.

What is a bare-shell apartment?

A bare shell refers to a property which has its construction completed with all basic building services in place along with the basic fixtures like windows, doors etc. However, it lacks lighting, furniture, flooring, HVAC system and plumbing.

The flexibility to plan post-possession makes the option popular among home buyers. The biggest factor, however, is the fact that bare shell apartments come at a cheaper price than furnished ones.

Finding the right home is always a difficult and complicated endeavour. The complexity in the process of home buying increases by a few layers with growing children in the family. Many families aspire to live in residential areas of south Mumbai for its luxury apartments, reputed schools & colleges, health care facilities besides reducing the agony of everyday commute.

It’s important to focus on what to consider when buying a home with children so you can easily find the ‘perfect home’. The neighbourhood that you are in will have a great impact on the child’s life depending on his or her age. Younger children will need more resources in and around the neighbourhood, while slightly older children might have lesser but different kinds of requirements.

With the pandemic affecting the world for over a year, most city dwellers, especially in the suburban and urban settlements were in a dilemma over the decision to buy or rent flats in Mumbai.

The primary concern for most of the dwellers in the home buying decision has been the commute, location of the home, availability of ready finance, utilities, one’s budget for accommodation, and lack of space in an environment of WFH. Although buying a home is an intention most aspired, the slowdown in the real estate sector results in property prices not meeting the expectations of the potential buyers. A hunt for 3 BHK, 4 BHK & 5 BHK flats in South Mumbai would be considered an ideal time.

In an attempt to answer the big question of whether to buy or rent a property in real estate, we give you some points to make the decision. For most, it is an individual’s decision based on the affordability and availability of finances, but a macro-level decision would be to purchase a property considering the prediction of a rise in prices.

Most homeowners living in the flats in Mumbai face the Herculean task of finding a spacious well-lit apartment in a good neighbourhood. With the hunt even more specific for 3 BHK, 4 BHK & 5 BHK flats in south Mumbai, the prospective buyer settles on the apartment based on criteria’s beyond the basic. In addition to the customary criteria of location, commute and property value, the finer aspects to buying even a luxurious 5 BHK flat in Mumbai would be guidance on Vaastu complicity of the home.

Vaastu Shastra in literal translation means “science of architecture”. It is an ancient Indian methodology practised for constructing homes, offices and shops mainly by traditional Hindu families to create positive energy and bring balance and harmony to life through structures. It is popular across the globe especially in Japan, India and Africa since many have found the guidance beneficial to build a perfectly balanced dwelling that invites positive energy. The science of Vaastu Shastra is based on the correct placement of the five elements (namely earth, water, air, fire, and space) and the directions (North, South, East, West) for arranging the activities within the home.

Most residents living in flats in Mumbai, have found the need for open spaces essential for their mental well-being. The luxury in Indian property market especially the 3 BHK, 4 BHK & 5 BHK flats in south Mumbai is no longer about the best lifestyle amenities. It is about the expectancy of the consumers, most preferring for garden and amenities within the residential complex. Nowadays, luxury is usually associated with a sense of indulgence, exclusivity, quality, and refinement in living.

Even with luxury, affordability remains a key factor. The customers are ready to buy flats in Mumbai that define their lifestyle. Privacy has also become an important factor for luxury home buyers. These days’ buyers are also looking for features that allow remote monitoring of their homes.

The luxury in the Indian property market is no longer related to the best of the lifestyle amenities on offer alone. It’s much more than that. The definition of luxury has certainly changed in accordance with the expectancies of the consumers. Privacy, ample car parking, garden, and panoramic sea view from the apartment is also considered a luxury for flats in Mumbai. Vraj Tiara offers 3 BHK, 4 BHK & 5 BHK flats in south Mumbai’s hub – Worli, that cater to home buyers interested in improving their lifestyle with amenities like a garden, 8 level car parking space, separate passenger and service high-speed elevators. The bare shell apartments can be customized in biophilic design to embrace a lifestyle with nature.

Mumbai, being the most expensive real estate market in India, has recently witnessed an explosive jump in the residential sector, in the year 2021. In a megacity like Mumbai, where space is at premium corporate groups, business tycoons to celebrities showed a buying frenzy to grab premium luxury flats in Mumbai such as 3 BHK, 4 BHK & 5 BHK flats in South Mumbai, in exclusive neighborhoods of Worli, Juhu, and Bandra. Alongside a home purchased, there is also a surge in demand for car parking space.

With the recent announcement by the state government to hike the stamp duty by 1% from the next financial year, buying flats in Mumbai is likely to get costlier. The government’s two-year concession on stamp duty ends in March 2022. The duty will rise by 1 percent to an actual rate of 6 percent of the agreement value from the current 5 percent. Moreover, the stamp duty on the gifting of property to a blood relation will see an enormous rise from just ₹200 to ₹1 lakh (considering the property cost of ₹1 crore). The ₹200 stamp duty was a base price which will be hiked to 1 percent of the property value. As of now, the stamp duty on a gift of a residential flat to blood relations is merely ₹200. But from April 2022, the same transaction will attract a 1 percent stamp duty on a pro-rata basis, considering the flat’s market value.

Owning a house that one can call a home is every individual’s desire. However, with the property prices soaring, owning flats in Mumbai will be a distant dream if you don’t have sufficient funds at your disposal. Most homebuyers opt for applying for the home loan from a reputed bank or other financial institution to ensure you get the right perspective to the budget and price range to house hunt for.

You may have heard that it’s important to get pre-approved for a loan at the beginning of the homebuying process. What does that really mean, and why is it so important? Especially, with increasing home prices and high buyer competition in today’s market for a 3 BHK 4 BHK and 5 BHK flats in south Mumbai. It’s crucial to have a pre-approved letter before making an offer. Here’s why.
• Preapproval from the lender helps you gauge your actual price range and how much you can borrow as a loan.
• A preapproval letter shows the seller that the buyer is qualified . It validates as a serious and potential purchaser.
• It helps in being well acquainted with the process before the actual opportunity materializes.
• When you are pre-approved, processing and finally approving the home loan amount will be a faster process.

With the decision to buy flats in Mumbai, one cannot ignore the commute within the city. You know you are in Mumbai when Google Maps would give you an estimated travel time longer to reach by car than walking the distance!

Today’s roads are so severely congested that even desperate measures might only improve the condition. A solution proposed by the city authorities is a very steep parking fee, high enough to potentially dissuade people from taking their cars and bikes to work and encourage using public transport. This would only mean that one needs to park their vehicles at their home.

In many residential localities of the city, the glut of cars has further added problems. Since most homes in central and south Mumbai have old residential complexes that don’t have a garage, the vehicles parked outside in the leafy by-lanes eat into the road space. Multiple cars in the same house have only worsened the scene. One often comes across slow-moving car drivers endlessly searching for a parking lot, motorcyclists carving out a wedge to squeeze their bikes in, haphazardly parked school vans adding the woes.