Kerala is witnessing a boom in the mushrooming of skyscrapers in and around the major towns. The realty sector in Kerala is growing steadily, especially as people have started seeing real estate as a means of investment. The development of any city can be gauged by the vertical growth of the city. The major metropolises of the world are visible examples. Kerala is one among the most densely populated state in India with an average population of 700 citizens per square kilometer. The necessity of living spaces in Kerala has boosted the need for more skyscrapers than ever before.

    The builders are of the opinion that more and more national residents are investing in flats where as some years back it was mainly NRIs who invested in real estate sector. Now even the NRIs are investing on flats and apartments in their country as a future abode with the luxury of foreign countries and the ambience of traditional culture.


There are lots of comfort and consolation that a flat offer to an owner - security, security, community living, good architectural ambience, easy accessibility etc. are some of the features and as an investment also.
The investment factor is important since there are returns of two or three fold with in years of investment in a flat. By investing in a flat, the gains come in many ways: Average increase in land price is considered to be 10 percent annually. It can increase up to 50 percent or more, depending on the area of investment.

   The year 2007 has seen many changes in the real estate field with major national players entering into

“He who travels a lot becomes wise; he who is wise stays home.”
– Chinese Proverb

Kerala market. The Kerala Builders Forum (KBF) is trying to standardize various aspects of building construction. Both apartments and flats are goldmine for investors. According to industry experts the important factor is location. When it comes to prime location, one must look less at the structure and concentrate on the land. An area becomes valuable due to certain aspects  - proximity to transportation hubs and business nexuses, a good view, high-profile neighbors etc. But flats have advantages over houses since two storied houses trapped between high rising flats become urban slums in the long run and the resale value of the houses diminish considerably. Flats are ideal for the fast life of the city and they offer 24 hours security, phone connection, Electricity connection, Cable connection and Gas connection. Only flats can offer annexes like swimming pools, kindergarten, library and other facilities.

    The industrial boom in Kochi – Vallarpadam project, IT Parks, LNG, etc and the boom in Thiruvananthapuram – Techno Park and Techno city Projects have tremendously changed the face of both these cities. The inflow of professionals from other states and the increase in living conditions of the middle class has necessitated better living spaces. The new generation is quick to enter into the field as investors since their buying capacity has increased considerably. Mr. Mahesh Menon of Heera Constructions is of the opinion, “Till about five years back, the average age of a home-buyer was around 45, but now we have customers in the age group of 25-30 years buying property."

     
   In this scenario, there are n numbers of traps awaiting the buyer. The catchy advertisements displayed on large hoarding need not, in reality follow the specifications they promise. There are cases where, even after 10 years the buyers have not got the corporation number, electricity connection or water connection. To avoid these inconveniences the buyer can trust the company that has long standing reputation in the Kerala market.

    A clear understanding of the history of the builder helps in achieving the desired results in your building. Comparing the 3D model or 3D computer graphic images of the building with the build form is the best way to ensure the delivery of class one product. Ensuring the quality of the materials used in building is the next step. For example, clay bricks and hollow bricks differ in quality. Tiles, sanitary fittings, wiring materials are gadgets that might wear easily. An engineer can give expert opinion about these matters.

   The next task is to calculate the carpet area of the building. Carpet is excluded from common area (everyone has equal share over the carpet area). A buyer should also see to it that the water connection, availability of water and rainwater harvesting facility are there in a flat. Sewage system, drainage system, fire fighting system, lightning conductor and earthquake resistant foundation are unavoidable security measures of a modern flat.

   A person interested in buying a flat should also be aware of the legal proceedings involved. Before committing on a project the agreements of the builder should be thoroughly understood by the prospective investor. The acquisition of flat is different from that of land property. The legal procedures are complicated. The owner of a flat has only the undivided share of land.


 

 
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      The famous Popular Rally of Kerala is now Heera Car Rally, the opening round of the National Rally Championship. The rally was conducted after 2 years and the competitors and the audience were enthusiastic about the event.

   Team MRF’s Gaurav Gill sped through the winding roads with his 2000cc Mitsubishi Cedia and came out victorious while his navigator, Moosa Sherif shared the joy of victory. Gaurav's teammates Lohit Urs and Arjun Rao Aroor occupied the next two positions after six stages in the two-day event organized by the Kerala Auto Sports Club.

   There is a new wave of excitement among the rally-loving crowd of Kerala as the major rallies of the state were inactive for a few years.

UPCOMING HEERA HOMES
IN COCHIN
Heera Cyberviews
Heera Royale

 

    
   In modern homes kitchen is an important area of activity and is not a place where food is prepared. Certain homes are designed in such a way that living room, dining room and kitchen are integrated into a single unit. Conventional cooking methods will not suffice in these modern living environments. Cleanliness, safety, hygiene and style are factors that adorn today’s kitchens. More and more housewives are opting for trendy and up to date styles in furnishing their kitchens.

    Indian food is characterized by its spicy taste and cooking in India involves lot of greasy oils, gravy and soot. Kitchen walls being dirty and sticky by the frying of foods is a common sight in India. To avoid these inconveniences architects and builders are suggesting the use of Electric Chimneys. Electric chimneys remove the fumes and bad odour of meats and fish being cooked and the environment inside the kitchen remains fresh and clean. The implementation of ergonomic design, modern technology, fashionable design and powerful suction help the electric chimneys to give a cost effective kitchen design.
    There are different varieties of electric chimneys to choose from, according to needs and wishes of the user. The range in which they can be designed and built is from purely functional to very trendy – synchronizing with the look and feel of the kitchen itself. The main advantage of using electric chimney is that the sink, cabinets, the vessels, utensils and the walls would be clean and no extra energy need be spent on cleaning them again, opines Mr.C.J.Varghese, Manager, Interior Division, Heera.


The working of these chimneys is an adaptation of the old model of chimneys. The chimney is set above the cooking space and the air, soot, oily vapors and odour that rise from the burner is sucked and removed by a powerful fan. There is a continuous flow of fresh air in the kitchen and this is advisable for asthma patients. The ability to suck the air emanating from the kitchen is referred to as the air suction capacity and it is measured as mh3. Usually Indian kitchens need electric chimneys of higher air suction capacity because of the use of oils. Multiplying the length, width and height of the kitchen with a factor of 10 would give the best-suited suction capacity for your kitchen.



    It is the filters that filter various types of impurities. They are detachable for easy use. They are classified into grease filters and charcoal filters. The grease filter has multi layer aluminum mesh with various layers of different mesh size and they retain the grease particles. They can be detached and washed in a dishwasher. The odour produced by cooking is absorbed by charcoal filter. The thickness and size of the charcoal granules determine the absorption and purification capacity of the chimneys. The blowers are provided for effective removal of bad odours and their speeds are controlled electronically to ensure better operation at lower noise and energy consumption levels. An old kitchen is an appendix to your home, but now you can bring in the kitchen space to the living room with the help of electric chimneys.

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When home loan interest rates rise,
should you pay a higher EMI or increase the tenure of the loan?



     When interest rates rise, home loan takers have a few options. They can either pay higher EMI or increase the tenure of the loan, or pre-pay part of the loan to retain the original EMI and tenure.

Which option is the best?
     That depends on the person's age and his/her overall financial situation, as well as the future course of interest rates. Let's look at the advantages and disadvantages of each choice. If you have taken a Rs 10-lakh loan for a 10-year term, a half-a -percentage increase in interest rates will increase your EMI by around Rs 290. If you expect interest rates to rise in the future, increasing your EMI may be the best option because you have the advantage of not prolonging your loan period at higher rates.

In addition, you may also be able to get tax breaks on the increased interest outgo.The disadvantage is the pressure that the higher EMI puts on the monthly budget. You may have to sacrifice some aspect of your lifestyle or reduce your financial investments. If you are financially over-stretched now, it may be better to keep the same EMI and lengthen the tenure.

     If interest rates fall in the future, then you will benefit from this strategy. The opposite holds if interest rates rise. In a rising interest rate regime, increasing the tenure of the loan will increase the cost of your home. One problem with extending your loan is that banks normally don't extend tenure beyond retirement age (generally considered to be 60 for salaried individuals and 65 for self-employed). Therefore, this option may not be available if you are close to retirement. Another problem is that some banks put a cap on the maximum tenure. Pre-payment means paying a lump-sum which reduces your outstanding balance so that your EMI doesn't rise even after taking into account the higher interest rates.

    For example, assuming you have an Rs 15-lakh loan for a 20-year term at an interest rate of 12%, your indicative EMI would be around Rs 16,517. If the interest rate inches up to 13%, you would have to pre-pay around Rs 90,000 to retain the same EMI and tenure. Raising that kind of cash may be difficult since you have already stretched yourself to buy that dream home. In that case, you may have to liquidate some of your investments or pledge financial assets such as an insurance policy or national savings certificate and receive an overdraft facility that will allow you to make the pre-payment. A couple of things is considered if you do choose to pre-pay: Check if there is any penalty for the partial pre-payment of your loan and take into account the loss of tax benefits because your tax-deductible interest payments are lower after pre-payment.

                                            

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