The Era of Money Management Apps

Buying a property involves large capital investment and for many of us managing the money is not that easy. As millennials are investing in the property at an early phase of their lives, they have become more cautious about managing their funds and plan their finances for the future. Financial planning is no longer restricted to manual calculations and dependency on your passbook’s record. People are becoming tech-savvy for planning their savings via various personal financial apps. These apps not only provide assistance for bill payments but also help you to keep up your credit score. A good credit score can help you get home loans easily and for the down payment, the money management apps can give you a good kick start.

Planning funds to buy a house can be overwhelming. But it can be more overwhelming to find help to do it right. For those who look for complete budgeting system in place, the below apps could be the right choice:

The Era of Money Management Apps

MTRAKAR

mTraker, as the name suggests, is a money management app that keeps a track of your expenses and income thus helping you to manage your finances. It is a user-friendly app that helps you manage multiple bank accounts in one place. This is basically a budgeting application that helps you to identify the overspending areas and provides a recommendation to reduce the same. This app is simple to use and could be used by a layman without any hassle. With such an application in place, it is easy to manage your wealth and plan for your first big investment like buying a property

ET Money

ET Money is one of the highest-rated personal finance apps. If you invest in stocks and mutual funds, ET money app helps you to manage our finances better. It gives easy access to investing in various portfolios. You can also apply for instant personal loans and SIPs. It also helps you to manage your expenses besides the investments.

FinArt

FinArt is a money management application that helps you to track your expenses and suggest budget limits for future transactions. It also provides a graphical presentation of your expenses and bills along with a useful budget dashboard.

Walnut

Walnut is considered to be one of the popular money manager apps in India. This app goes beyond the normal breakdown of expenses and gives a detailed percentage breakdown of your expenses spread out over different categories like food, shopping, entertainment, etc. You can set up your daily budget amount and control your expenditure.

Wally

Wally is known to be the best app for tracking down your expenses. It lets you take photos of your bill receipts and other expenditures instead of entering the figure manually.

The growing popularity of these apps has shown the expansion of technology into our lives. This era of increasing expenses has created the need for better wealth management. And financial management is no more restricted to banks. So what is the right money management app for you? Explore the features of various available apps in the market and download the one that best suits your needs.

If you are planning to buy house in Chandigarh in the near future these apps might help you to save up for down payment. Ambika Homes provides access to premium quality residential properties at exceptional prices.  Visit Ambika Realcon and let us help you find your dream home.

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Are REITs the Game Changers For Indian Real Estate?

Indian Real Estate is witnessing a constant change, especially in the last few years. The introduction of various government schemes like Real Estate Regulatory Act (RERA), Pradhan Mantri Awas Yojna (PMAY), Goods and Services Act has given a boost to the sector and positively influenced the investments.  While the growth is accompanied by uncertainties, the introduction of the new concept REITs in the industry is said to be the new driving force for the Indian real estate. It has navigated India into the pool of mature markets like developed nations and in process of curbing the liquidity crunch.  This platform has opened gates for global investors and opened new avenues for domestic investors.

Are REITs the game changers for Indian real estate

What are REITs and how do they function?

Real Estate Investment Trusts (REITs) are a popular form of investment instruments worldwide. However, India has recently formalized its guidelines. The REIT platform is approved by the Securities and Exchange Board of India (SEBI) and similar to Mutual funds.

It pools capital from investors to buy and manage real estate assets that can be traded on the major stock exchange. This has opened ways for small investors to put their money in high-value properties thus giving them access to real estate. Hence, it is an easy platform to generate funds from investors, infuse it into real estate and get returns. Since it is approved by SEBI and publicly traded, it has increased transparency in the real estate market.

While publically traded REITs sell shares to raise funds, private REITs need to find individual investors for their portfolios. REITs provide high dividend yields and income is generated from rent, leasing properties, and managing fees. It offers stable returns to investors for a longer duration. This is what makes REIT a safe asset class to invest in.

Advantages of REIT

REIT has become the talk of the real estate market and investors are eager to capitalize on it. It has become the easiest way to enter into real estate due to its enormous advantages:

Lucrative income– As per guidelines, REITs are required to distribute a minimum of 90% of its taxable income to investors, twice a year.

Low investment– It allows investors with low capital to enter into commercial real estate and invest in high-end properties that were earlier reserved for big investors.

Transparency– REIT is obligated to share detailed information with shareholders on the values of capital and income generated, thus, making the platform transparent. Investment in REIT is secured and less volatile as compared to other asset classes.

Diversified portfolio– REIT needs to invest in a minimum of 2 projects as per the guidelines. Hence, making the investment secured. Hence, investors do not have to rely on one segment and can balance their earnings from other variants.

REIT is perceived to be a boom for the Indian real estate, especially for commercial developers as it opens doors for viable funding options. The success of this investment instrument will be based on the benefits it provides to its investors.  It is expected to contribute to the long term development of real estate further stimulating economic development.

House for sale in Mohali are amongst the top property for investment. Prices of the flats are increasing due to the fast-paced development of the area and the green quotient of the area. Investment in this region is fruitful from the rental income perspective as well. The flats are fully equipped and ready to move.

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Steps Taken by Government to Boost Real Estate

Real estate is one of the most prominent sectors globally. This sector is attracting investments from residents as well as NRIs. The reversal of recession in real estate could be witnessed with the housing sector gaining acceleration from the past few years. Housing has always been one of the major agenda for the Government as it is a vital sector of the national economy influencing the quality of life.

Steps Taken by Government to Boost Real Estate

Why real estate sector is important for the economy?

Besides providing shelter to the people, it is a high labor-intensive sector with huge employment generation and generating taxes.  It is one of the major sectors contributing to the nation’s GDP growth up to 7 percent and expected to contribute double the existing rate by 2025. And hence, the government of India has time and again taken special measures to boost the sector and facilitate the investors as well as the home buyers. The latest announcement by Finance Minister Nirmala Sitharaman, to infuse INR 10000 crore funding in the infrastructure will help in the completion of affordable and middle-income housing projects.

Government has recently announced some measures to boost the real estate sector as a festive gift:

  • Foreign Direct Investment– The Government of India has allowed 100 percent Foreign direct Investment for townships and various projects. That has resulted in a rise in the flow of FDI into the sector and encouraged increased transparency.
  • The decrease in Interest rates of home loans – With the objective to facilitate the buyers especially the first time buyers, the Government has taken several initiatives and extensions of benefits under section 80 I to mass housing projects, increase in rebates for housing loans, lower interest rates etc. To empower government servants to buy new houses, the interest rates will be lowered on house building advance and planned to be linked with 10-year G-sec yield. The government has also introduced the merger plan of PSBs which would improve the lending capacity of banks. A decrease in interest rates will not only help the buyers but also accelerate the pace of the real estate sector in the festival season.
  • Pradhan Mantri Awas Yojna– More than 8 million houses have been sanctioned by mid of 2019, under the urban Pradhan Mantri Awas Yojana (PMAY). This is complementing to the previous government initiative announced in 2015 “Housing for all by 2022” promoting the concept of affordable housing.
  • Reduction in GST– With the focus on it’s agenda of affordable homes, the government has decided to cut the Goods and Services Tax (GST) rates to a mere 1 percent for this segment. Also, the GST rates for under-construction projects have been reduced from 12 percent to 4 percent. The lower tax burden will lead to increased demand in the affordable housing segment.

Whether these initiatives will be able to revive the sector and give it a positive boost will depend on the upcoming financial year FY 19-20. Improvement in sales of the projects adhering the government norms and policies has already been witnessed in FY-18-19. More of such initiatives by the Government will lead to the growth of the sector and faster possession of the projects in making.

Ambika Realcon has always aimed to develop compassionate communities with the help of its residential projects. One such project is coming up in Mohali. Flats in Mohali are aesthetically designed and meeting every need of its future residents.

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What Does BHK Mean?

BHK is short for Bed, Hall, and Kitchen. This term is used with numbers like 1bhk, 2bhk, 3bhk in the real estate industry to denote the number of rooms available in the apartment. The ever-growing demand for flats in Chandigarh has popularized the term BHK. Ambika Realcon is the popular project in Tricity with the most magnificent flats and penthouses in the region. The two eminent projects Florence Park and La Parisian are sheer luxuries at affordable prices. If you wish to own a luxurious and ultra-modern house then explore the range of 2, 3 & 4 BHK Residential Apartments & Penthouses in by Ambika. Read next BHK full form & all about 1,2, 3bhk, and the meaning of Rhk.

BHK full form | 1bhk means

If you are buying an apartment, one of the most important decisions is to buy the right size of the flat as per your family’s needs. Hence, understanding of various terminologies used in the market is important. BHK has commonly used terminology in real estate. It stands for B= bed, H= hall and K= kitchen. The abbreviation is generally used to define the number of bedrooms available in the flat along with the hall and kitchen. So, if someone addresses an apartment by 1bhk, it means the flat consists of one bedroom, hall, and kitchen.

What is the Meaning of 2bhk, 3bhk, 4bhk?

The growth of the real estate market has generated the variation and segmented the flats into 2bhk, 3bhk, 4 bhk, etc. The numeric value used before bhk represents the number of bedrooms in an apartment. If you are a first time home buyer looking for 3bhk in Chandigarh, it is important to make an informed decision and understand the difference between the segments. 2bhk depicts 2 bedrooms, 1 hall, and 1 kitchen. At times, it also could mean 1 master bedroom, 1 small bedroom, one hall, and one kitchen. 3bhk means 3 bedrooms, 1 hall, and 1 kitchen and so on.

What Is 2.5 bhk means in flats?

With the growing number of residential real estate, the need for customized flats has given way to 0.5 segments. 0.5 represents a small bedroom which is smaller than the standard size. It is generally used as an extra room, study room, library, etc. Similarly, there is the availability of 1.5bhk, 2.5bhk and 3.5bhk flats in the market. 2.5bhk indicates 2 standard size bedrooms, 1 small bedroom (0.5), 1 hall and 1 kitchen. To further finalize the bhk type, it is important to know the carpet area and built-up area of your selected bhk type or configuration.

What Is The Full Form of RHK? Rhk Means

With millennial investing in residential real estate at an early stage, the need for analyzing space requirements and optimal utilization of it has become all the more important. The transforming shift from BHK to RHK is recent and catching the pace. RHK stands for Room, Hall, and Kitchen. RHK consists of 1 room which could be either used as a bedroom or living room along with 1 hall and 1 kitchen. Generally, the terminology is used for studio apartments or builder apartments.

Mohali is an investors’ paradise when it comes to comfort and convenience. Flats in Mohali have the advantage of being situated at the prime location with access to International Airport, shopping malls, and international brands. The city has another benefit of being closer to City beautiful Chandigarh.

 

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A Touch of Luxury in your Dream Home

There is nothing quite like experiencing the touch of luxury in your home.  And while most of us feel that upping the luxury factor at home is time consuming and expensive, there are several easy ways to make that happen within your budget. Adding luxurious touches to your living space is all about focusing on the details. It revolves around small changes in quality of life and aesthetics.

Here are our top picks for simple ways to add a touch of five-star luxuries to your home, without making any major modifications or upgrades.

A Touch of Luxury in your Dream Home

Tasteful lighting

Lavish lighting is a must-have for the luxe finish. A well-lit room with overhead lights is a trend that is catching up with the luxury trend. Replace your old lamps and shades with creative built-in ceiling lights, dimmers, chandeliers, and subtle lighting fixtures. You can top it up with light installation over your artwork in each room as focal points.

Plush drapes

Add on to the sophistication of the room by opting for rich fabrics for the curtains. Curtains, drapes, and blinds are the most overlooked features in your home. Opt for custom draperies with the finest of fabrics like silks, linen, and velvets. Layer up your bed with luxury touches like fine cotton bed sheets, pillows and cushions in a neutral tone for an elegant finish.

Flowers and Greenery

Consider adding green aesthetics to your home by having natural flowers and plants in your room. The green elements not only add colour, aroma, and scent but can also convert a tired space into a lively room. Smartly place the organized floral and plant arrangements in hallways, balconies, dining area and bathrooms to keep your home smelling fresh and fragrant.

Mirrors all the way

Mirrors are the easiest ways to give the look and feel of grandeur to your home.  It makes the room look bigger and increase the brightness of the room by reflecting natural light.  Opt for bigger mirrors to add depth to space.

Artwork and antiques

Start small when it comes to investing in artwork. Opt for your favourite artist that depicts your taste or something you could resonate with. Blend your modern aesthetics with antique home decor to create a pleasing visual interest.

Decoration and furniture

Avoid cluttering the living space with extra and bold home decors to make your home look luxurious. Get rid of over the top items and accessorize your house with a subtle hint of glamour. A clean space will ensure that your house is always ready to welcome you and the visitors. Station a few bins in every room to ensure cleanliness and avoid chaos. Opt for modern, unique and minimalistic furniture which looks luxurious yet comfortable. Splurge on a good couch to provide plus seating.

Your dream home should feel like a castle and you do not need a six-figure budget to do so. By keeping these simple ways in mind you can create a timeless style that your family and friends will adore. Incorporate the small hints of luxury to make your home feel warm and inviting.

Owning a house in Chandigarh is like a dream come true but what makes a property a home is its amenities. The recent properties offer high-end modular kitchen and fittings, imported materials, digitally operated appliances, sports arena, clubhouses and, etc. Along with these security and safety techniques and measures should be must in the recent times.

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