Service Tax & VAT in Real Estate!

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Project delays and cancellations are not the only issues that buyers of under-construction properties in India have to worry about. Their mathematical genius would also be put to test at each stage of tax calculations.  It has to be noted that you have to pay the service tax and the value-added tax (VAT) if you are investing in an under-construction property.

If you are buying a home in any city of Karnataka and want to know all about KVAT, you may be in for a fix and will have to use a lot of your imagination to decide which “schedule” the home-buying process falls into. It is all open to interpretation, and even chartered accountants may fail to point in one direction.

For example, your developer may ask you to pay VAT at 5.5 per cent under Schedule III, because material used in construction (bricks, sand, metal, etc.) are kept under this category. However, as the term construction is not clearly mentioned anywhere, you might be charged VAT at 14.5 per cent. This rate applies to things not covered under any schedule. What else? An end note adds that you will have to pay VAT of 14 per cent for “all other works contracts not specified in any of the above categories”. The developer may have his pick unless you carefully read the purchase agreement and ask for a correction.

It has to be noted that VAT is a multi-point levy, charged for any value that is added to a project. In case of real estate, developers have to pay this levy to the state government for the manufacturing part of the work. While the value of the land is excluded, services tax is levied on labour and other services.

Service tax, on the other hand, is a central levy and is uniform across the country and under the composite scheme, your developer will charge you service tax at 3.09 per cent of the total contract value. This means that service tax will be charged at 15 per cent of the total contract value, and if the service costs of the unit is kept at 25 per cent of the total value, you will have to pay the tax at 3.09 per cent.

Essentials for your new home

 

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Find the right decor– choose a decor that blends in the shades of your walls to maintain a healthy symmetry of design in your home.

Interior design– the right interior design will help you portray the best stories of your life

Modular Kitchen- create mouth-watering dishes with a well-equipped kitchen

Comfortable furniture– Don’t forget to add comfy cushions to your to-buy-list, or you will miss it when find it missing after a hard day’s work.

Add pictures-  Relive the memories of your past by showcasing some family pictures.

Tea tables and easy chairs-  the presence of a tea table or an easy chair will encourage you to enjoy a cup of coffee amidst the sight of a pleasant sunset.

 Old fashioned dim lighting– the addition of bell shaped lights with yellow bulbs will set the tone to a soothing ambience.    

“Because every home is a canvas where priceless memories are relived”

Durga Petals: A Symbol of Your Achievement

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“Achievements First”! The defining motto that oversees everything that we do and defines everything that we are. Achievements can take many forms and complexities. It could be something as simple as starting your first exercise routine to getting a promotion at work. Regardless of the type of achievement, the inert nature of achievements is that it acts as a confidence booster and provides a learning experience no matter how simple it is. The very fabric of achievements is that they act as success enablers in our life. They are with us all the time, sitting on our shoulders as crown jewels signifying and reminding us that it’s not the last and there are miles to go.

You’re a successful professional, a winner by your own right. You’ve earned a good place in your life. All you need now is an address to match. Fostering Urban Achievers, Durga Petals is the celebration of your achievements, spread over 5 sprawling acres, finished with 8 towers. Petals are the wings to your achievements, your zeal to achieve more and an address that truly mirrors the winner in you. Situated at Marathahalli Outer Ring Road, laced with 40+ amenities, the apartment complex has up to 70 percent open spaces and is finished with various zones catering to everyone’s needs. The 2.5 and 3 BHK apartments are a true reflection of your aspirations. Designed for comfort and crafted for quality, the towering apartment complex is the first digital healthcare enabled residential complex.

With 504 success stories to the house, Petals has got all the ingredients for a bestseller compilation. Stepping away from adjustments, the residential apartment complex is, by all means, an address to your achievements. At Durga Petals we don’t just present you with keys to your home, but rather a ‘Lifetime Achievement’ award as a celebration of the milestones achieved by you.

For more information on investing in Bangalore’s booming Outer Ring Road, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in

Digital Health Enabled Apartment Complex: A Win-Win Deal For Everyone

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Finding a good apartment is difficult, but narrowing down on your dream home that is a perfectly suited environment for you and your family could be a hard task to accomplish. It’s imperative that the apartment complex is built to suit all your needs, especially healthcare needs which is the life line of your family.

Healthcare has been focussing on the administrative efficiency and the affordability of treatment for patients. wing to the need for a disruptive healthcare system, Durga’s first Digital Health Enabled Residential complex, Durga Petals provides an unprecedented view into an individual’s personal health choices and physiologic response. This care-enhancing feedback system enables patients to better manage their health, allowing for a more effective collaboration with the clinicians, all while enabling a new information-based innovation.

What Apple did with music, and Amazon did with books, Durga Petals does with the healthcare system. It establishes a highly collaborative, creative space designed to bring together unparalleled network of clinical healthcare professionals working together to make meaningful change in health through scalable and innovative technology.

Situated on the Equator of the IT corridor, Durga Petals is one of a kind residential complex. Enabled with telemedicine facilities on the go, the feature is poised to have a ground-breaking impact on the life quality of the residents regardless of their age group. Let’s understand how.

(Hypothetical situation)

Sameer Arora (39), Vice-President (Flipkart) lives with his wife Bhavna (33), son Abish (7) and father Mohan Arora (71) in a 3 BHK apartment at Durga Petals. He has migraine issues and his father is diabetic.

Relevance of Durga Petals’ Digital Healthcare System for:

Working Professionals: Owing to Sameer’s migraine issues, his physician recommends a diet and an exercise regime, but his busy life and his lack of time to schedule his appointments with his physician deteriorates his health. With the help of Petals Telemedicine Centre, his schedules are set by the telemedicine provider, medicines reach to his doorstep on time, and he gets timely notifications to get his check-ups done regularly.

Children: Abish, son of Sameer gets injured while playing with his friends one fine day, and requires first-aid assistance. The residents report the injury to the Telemedicine Centre, which arranges for medicines from a nearby medical shop prescribed by the doctors digitally, and supplies it to their home to help Abish recover sooner.

Durga Petals aims to bring technology to the rescue, scale healthcare, and improve the relationships between the triangle of professionals, institutional facilities and patients to help them bring a movement of change.

Durga Petals: – Nurturing Dreams with Passion

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The untarnished nature of a petal represents a strong symbol of positivity. Spreading the essence of calm and serenity, they reflect beauty that transcends from an ordinary life. At Durga Petals, the walls are built to set you free, to nurture your growth and the surroundings you live in. A project created with the mindset of not just delivering you an apartment, but a home, a reflection of your dreams. In there, lies the fruit of realisation of aspiring for a home that’s built to revolve around you and your needs.

Located at the centre of the IT corridor, the project is amidst close proximity of IT parks, Malls, Restaurants, International Schools and Natural spaces. With over 70 percent open spaces, the project is crafted after you. Designed to cater to all your needs and at the same time to provide you with an apartment that is an exemplification of a legacy and years of industry experience in providing top class projects; the end objective, is to offer ‘People’s Projects’.

Durga Petals was the recipient of some of the prestigious awards last year, “Emerging Developer of The Year” and the “Most Admired Upcoming Luxury Project” at the Global Real Estate Brands Awards 2016 by Deccan Chronicle, PNB Housing and Silicon India Real Estate Awards Bangalore 2016.  Recognizing the quality, and the dedication that goes behind the construction of Durga Petals, a mix of timely construction, best in class amenities and the intricacy that goes behind outlining every need of yours.

Spread over 5 sprawling acres, built across 8 towers and over 40+ amenities, Durga Petals is a hall-mark of luxury and comfort, built on an understanding that your home is a long-time investment. The aluminium form work technology enables durability at the same time delivering your dream house on time.  Carefully thought out amenities like day care centre, work from home office cubicles, games room and much more is specifically designed to meet the needs of all groups from kids to senior citizens. Designed around your conception of a dream home, these amenities are built to provide you with uninterrupted recreational experience regardless of the age group. Providing you dream homes, Durga Petals is a project Crafted for You, Built for the Future.

visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in

Moving into a new house? Take a moment…

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Moving into a new house could be a whirlwind of excitement and nerves! A decision that brings you extreme happiness, but also adds a tinge of confusion. Are you completely ready? Have you got all the essentials together? Is your transport and settling plan in place? These are few pointers that you need to consider before moving into your new house. Here’s a walkthrough on all the essentials your checklist needs to have: –

  • Consider moving in as a good reason to weed out all the things that you haven’t used for years, which is languishing somewhere inside your house. Getting trapped in the mindset of ‘could be a future use’, could cost your precious time and money, and may also impact the freshness and vibe of your new house.

 

  • Prioritize your packing, starting with the things that you seldom use and label them accordingly. This could help you save precious unpacking time and get you going before you’re finished with unloading and settling down.

 

  • If you’re going to use a moving company, get your estimates as soon as you can. The slots could fill up quickly, considering how everyone is clamoring for the same spot either at the beginning or at the end of the month.

 

  • Start saving up on newspapers, let the hoarder in you come alive! These could be used for packaging. Also, be sure to procure small boxes against big ones, this helps to avoid heavy lifting.

 

  • Don’t buy perishables if your moving date is near. Packing a fridge full of food could leave you in the danger zone. Be sure to empty out your fridge before transporting it to your new house.

 

  • Plan an email blast to all your friends, relatives and colleagues, be sure to intimate your bank and post office about the change of address.

 

  • Moving into a new house could be quite stressful for your kids, moving away from friends and the locality could leave an impact on them. Take a stage by stage approach in informing them about the relocation. This could help them get prepared mentally and keep them reassured.

Once you have this checklist implemented, you are good to go

Check out the latest offering from Durga properties: Durga Petals.

Outer Ring Road: – A true buyers’ choice

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The northern part of Bangalore once considered to be a sleepy town is now one of the upcoming hubs. The stretch of Outer Ring Road consists of IT parks, Malls, Hospitals, and Educational Institutions making it, a perfect package for those looking to invest in properties.

Location is one of the most attributing factors that rope in a lot of potential property buyers to this part of the town. With the road leading to the international airport, the stretch caters to various IT parks like Baghmane and Manyata to name a few.

The accessibility to Banaswadi and K.R puram railway station adds to the convenience factor of having a home at ORR. The northern part of town also dots a lot of scenic lake views such as Hebbal and Thannisandra lake. This not only provides the much-needed water resource but also a circulation of fresh air to these regions.

Unlike other regions in the city where the infrastructure cropped up post the IT boom, the northern part had a well-established infrastructure already in place before the construction of the international airport which led to an explosion of growth in this region. It’s further improvised by housing and commercial properties in this stretch.

The growth potential of the region is enormous, if you’re looking to make an investment in this part of the town look no further, the property value of this region is set to shoot up to 42 percent in the coming years, giving a true meaning to the return on investments.

Price advantage ought to get your attention when making an investment decision in this part of the town. On comparison with other regions of the city an investment in the north region is yet more feasible. But this could be a short-lived feature since there’s been a 10-15 percent expected appreciation in property surrounding the region.

Durga Petals is aptly situated on the Outer Ring Road IT corridor. A premium apartment spread over 5 sprawling acres consisting of 8 towers. Durga Petals is your one stop location if you’re looking to buy 3 bhk apartment in Bangalore in one of the hubs of northern Bangalore.

With over 40 amenities, the project is carefully designed to suit all your needs. The project is carefully designed to make your life more comfortable and provide you with a true sense of home. Durga Petals features amenities that give other project on the vicinity a serious competition.

Dawned with 70 percent open spaces there are various zones which cater to the needs of every citizen. Malgudi a section that takes your game play to the next level, featuring life size game boards, the experience is bound to trigger the kid in you. Nukkad houses a wide variety of arenas and courts such as badminton and basketball. Panchayat a zone specially designed for the senior citizens with a dedicated gazebo and chit-chat zone. Aangan a special recreation zone consisting of a swimming pool, rain dance floor, party arena and a barbeque area. Rangoli club house features top class amenities such as Gym and Spa, work from cubicles and few other effective amenities.

Exclusively designed with comforts that keep you close to the nature, Durga petals boasts all the aspects of a perfect home.

For more information on investing in Bangalore’s booming Outer Ring Road, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in

 

5 benefits of yoga in your life

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The most common responses when people hear the word ‘yoga’ is ‘I always wanted to try yoga’ and ‘I could never do yoga because I can’t (insert limitation here)’.

The right response to this is always the same ‘You must always do yoga!’

It is irrelevant if you can touch your toes or not. Doing yoga has nothing to do with being flexible or strong or being able to stand still. Yoga allows every single type of person to start somewhere. Not all who practise yoga are yogis or gymnasts or dancers. Yoga enthusiasts are simple people wishing to achieve objectives such as controlling their breathing, increasing their flexibility and even finding some precious moments of peace.

Some yoga techniques are meant for seasoned yoga practitioners who push their mind and body to the limit and can be extremely taxing both physically and mentally. For example Ashtanga yoga combines strength, cardio, as well as flexibility with practises lasting 75 to 90 minutes.

Yoga has been known to bring instant joy and relief. Clear examples of people being unhappy and anxious have turned to yoga to achieve goals of satisfaction and happiness while being able to run faster, complete somersaults, hold their breath for longer than 2 minutes and being able to hold their own upper body weight using only their upper body.

Other benefits of yoga include:

  1. Drop in anxiety levels – A study in 2010 showed practising yoga three to four times a week rose levels of chemicals in the brain responsible for fighting off depression and anxiety.
  1. Less stress – An Ohio State University study showed long term yoga has benefited practitioners recovering from stressful events even quicker.
  2. More control over medical conditions caused by stress – Researchers have theorised that yoga could be effective in treating individuals with stress-related psychological and medical conditions such as anxiety and high blood pressure.
  1. Increased control of balance – Stroke, the American Heart Association’s magazine, stated yoga practised post-stroke can help improve balance and reduce fear of falling while improving the patient’s quality of life.
  1. Reduced levels of back pain – Pains in the lower back affect people of all ages. Studies show 12 weeks of yoga had an even higher effect than standard medication in patients suffering from chronic back pain.

What better encouragement for practising yoga than a dedicated space available to you at your residence. Durga Petals’ allocated area, Panchayat, is designed for yoga sessions and various workout lessons in an enclosed area within the premises. Panchayat is located along the western wall and right beside the gate to ensure yoga enthusiasts can head to work post workout.

With the benefits and location drawn out for you, what is holding you back from seeking instant physical strength and mental relaxation?

For more information on how to live a relaxed and productive life, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in

Referenced Architectural Design, If Done Well, Can Also Hold Its Own!

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Architecture can be defined at many levels of detail and abstraction (from specific to generalized) and for many different purposes. In fact, Architecture for one building or design can be taken as a general reference for the architectural design of another building/structure.

The level of abstraction provided in a reference architecture of a building is determined by how the intended building will eventually turn out. When a new architectural design is developed based on a specific reference architecture, the level of detail provided may have to be in great in-depth on part of the reference architecture. In essence, the reference architecture must be used for inspiration purposes only.

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The referenced architecture may only be complimentary in guiding architectural design but it does provide the much needed impetus that a new building seeks in terms of design aesthetics. The premise of one specific architectural design may guide and constrain various types of architectures depending on the purpose and scope. Unique architecture never ceases to amaze us and many great minds have quoted the same over the years.

“Design is not just what it looks like and feels like. Design is how it works.” – Steve Jobs