YOLO : You Only Live Once is the buzzing word on the lips of the Millenials & everybody alike. Living like a king, enjoying like a star & dreaming like a cat is what everyone wants. Convenient should be the lifestyle to “Eat, Drink & be Merry” now remains the much talked about topic of the time. All this chitter-chatter paradise translates into reality when one chooses to live in a luxurious apartment, that too at the heart of India’s IT capital, where life never stops & the Saga of amplifying growth journey never ends, where the ancient meets the future, where rests a perfect blend of traditions with modernity- the city of Noida has it all.
When one decides to live in a luxurious apartment in Noida, the Rent-Vs-Buy conundrum is what baffles one the most. The decision you make should be a prudent & pragmatic one. Especially considering the post-COVID world, you can’t afford to be on the wrong side. In the post-COVID world, when the prices of the properties have plummeted like never before, it is high time to buy not just a common residence but a luxurious apartment with all the world-class amenities & a wonderful ambiance of the gated community – drooling exteriors, interior & tech-enabled security.
When it comes to the lifestyle in the apartments in Noida, there are a host of perks & privileges one can expect as the legitimate folks of the cosmos that you call your retreat & escape place. These additionalities include, among other things, the following –
Amenities that mesmerise oneself to the core & bring to light the real joy of a child, mark the apartments not only from inside but all around. These amenities speak for themselves as they make life a bed of roses for the folks. These amenities generally include Fitness studio and fitness classes, Rooftop or garden patios, Grilling or BBQ stations, Pools and hot tubs, Pet-friendly community with dog runs or pet washing areas, Entertainment areas (game rooms, television rooms, etc.), Common areas for private parties, Parking and bike storage & Package concierge services etc.
A community that resembles a family
Life inside the gated community of the luxurious apartments is fascinatingly enthralling too. With all the like-minded people around you, life becomes truly exemplified. Provision of shared spaces gives an upfront opportunity of making new friendships, taking relations to new heights & paradising oneself to the dream island.
Location : the precinct that speaks for itself
Location is all what remains on the priority list when it comes to luxurious apartments. From the vicinity to all the tourist & essential visit places, all of them should be in the area of a couple of furlongs. Fortunately, all these places have their locations in perfect perimeter to the luxury apartments in Noida. From swanky malls to hospitals to schools & universities, all of them fall under the rapprochement.
Health is wealth as they say. Luxury apartments have got you covered. With world class fitness rooms, Gyms & yoga studios, luxurious apartments deliver to you the lively experience of a healthy life from inside-out. Rooftop gardens & walking strolls in the ground come as a part & parcel with these exuberant apartments.
No room for clutter
As the word itself defines, the sense of luxury comes when there is no clutter in the room. As a thumb rule, luxury apartments are tech-enabled with clearly demarcated space for the requirements of day-to-day necessities, be it kitchenette, clothing area, bathing area or shoe racks for that matter. All the spaces are already well defined, well furnished & tech-enabled to save both – space & time, & at the same time provide a sense of superior living.
When it comes to connectivity, luxury apartments in Noida meet your expectations way beyond the set benchmarks of the market. As evident by its strategic location, Noida is well connected with all modes & kinds of transports. With the Greater Noida expressway and the Jewar Airport in its bag, Noida also has the longest stretch of Delhi metro which is the lifeline of the millennials. As Noida is connected to Delhi and Ghaziabad through expressways, the dream of living in a well-connected city at affordable price comes to life here The Yamuna Expressway connects it to Mathura, Agra and beyond. The Noida-Greater Noida expressway is also a major thoroughfare. It serves as a vital connectivity link for those travelling from Ghaziabad.
Perks & privileges of living in luxurious apartments in Noida itself has its own crown lines to the Moon. But if you are confused about what apartment would be right for you to invest your hard-earned money in, then the suggestion would be that whatever luxury apartment you choose, it must meet the majority of the criterions, if not all, mentioned above & like. Your investment should also be a fruitful one when it comes to ROI (Return-On-Investment), if you plan to relocate to another city in future. You should not only be able to recover your original investment but also be able to earn dividends on your investment which must be higher than the inflation rate. Only then would there be some sense in your luxury apartments. For instance, there are many luxury apartments in Noida which not only pay you dividends but also provide you with all the aforementioned amenities.
For example luxurious apartments by the Godrej at the heart of Noida-
Godrej Woods in Sector 43 Noida
Godrej Woods at sector 43 Noida not only provides all the aforementioned amenities & good ROI but it is gold rated by IGBC (Indian Green building council) which makes it a perfect luxury dwelling for you & your loved ones. Godrej Woods Noida is nestled in the urban forest theme, it also provides you with green natural calmness & solitudinal peace & yet connects you to the bustling happenings of city life. The floor plan here has the options of 2,3,4 & 5 BHK options as per the needs & budget of the residents.
Godrej Nest in Sector 150 Noida
Godrej Nest in Noida provides you with all the required amenities & drooling facilities which shapes the lifestyle of the residents to a great extent. The 5 tier security parameters here ensure safety remains on the top of the priority list. The floor plan options here include 2,3 & 4 BHK apartments. You can easily choose from them as per your needs & investment plan.
Godrej Palm Retreat in Sector 150 Noida
Godrej Palm Retreat at sector 150 Noida is embedded with all the above mentioned amenities. With a handsome ROI, the property also provides a sense of luxury & security with its world class tech-enabled security system which works round the clock to ensure that safety of the residents is ensured. Uniquely designed best in class floating restaurant and multi-level pool make it the perfect destination for those who want to spend quality time with their near & dear ones but do not have spare time for travelling. The floor plan options are as follows – 1 BHK, 2 BHK, 3 BHK & 4 BHK units.
About Floor Space Index
Living spaces make our cities alive and breathing, and they have a big part to play in our human experience. The FSI is the ratio of built-up space vs plot of land. Or the total area covered by all the floors of the building, divided by the total area of the property upon which it’s built upon. This is an effective way to build upon and actually know the distinctions between the actual plot size and the intricacies of the design behind the same.
The significance of this paradigm is for the buyer and the developer to actualize and bring to fruition how much construction needs to be done on a particular piece of land. The amenities, type of the building, and the zone in which the premises is located, the entirety of the plot is considered otherwise, i.e. taking in the aspects such as the size, locality and end-use of the property.
The system mentioned above differs from place to place and from one municipal corporation to another, and from municipal council to another and so on.
**On the other hand, the gross floor area (GFA) is the total of all the floors in the building minus the parking, balcony, driveway, and walkway, among other things.
Floor Space Index Formula
As being mentioned earlier, floor space index is the area covered by all the floors of the building divided by the total area of the plot. For instance, if the FSI is 1.0 in its cumulative form, only 1,000 sq. ft. of construction can be done on the property amounting to 1,000 sq. ft.
*It is also essential to remember that construction companies or builders can only build-up to the FSI imposed by the regulatory authority; the government.
Importance of FSI
Floor Space Index holds a significant space in the socio-architectural designs of urban planning, gives a comprehensive idea on how a city can be better managed through the effective ways of calculated accountability of imbibing water management, sewage treatment and other forms; primarily to control the population density of an area.
As we know, every region that defines the spirit of this country is different and therefore, it becomes imperative to count in the floor space index to maximize the potentiality of how living residential/ commercial spaces can be effectively used to make our lives better in general. The management of spaces becomes even more important with the passage of time; an unprecedented developmental rate and an ever-more growing population would require a better system to optimize the residential spaces to accommodate for the growing population, industrial upsurge and socio-political circumstances.
Furthermore, FSI also plays an important role in deciding the pricing of the building; for instance, the residential spaces with a relatively lower floor space index encapsulate a better market value because of their lower population density and so on. Godrej Properties with their impeccable, top-of-the-line property spaces provide with the best FSI value, making spectacular spaces to reside and invest in.
With the notable variations that the FSI can bring about, ranging from commercial/ residential and premium spaces, the final price of the property is still governed by multiple factors and not just FSI alone, as being mentioned earlier.
Looking into a different perspective, the developer will prefer a higher FSI ratio because a higher floor space index would imply more apartments can be developed and sold. Taking into consideration the unprecedented demand for the real estate in the ecosystem of India, increasing the floor space index would be beneficial if other factors such as sustainability and city management were looked after and thoroughly considered.
The article mentioned above talks about the significance of floor plan index (FSI) and its implications in terms of urban planning; a few takeaways from this are mentioned below:
- The Floor Space Index is the total area of the constructed plot divided by the property’s total size.
- The higher the FSI, the lower the rates of the residential/commercial and vice-versa.
- FSI is an imperative factor while evaluating the value of the property.
- Locality, Type of Property, Categorical Zone etc., are other factors that are taken into consideration while deciphering the value of any given property along with the FSI.
Property Purchasing involves a lot of documentation processing. From home loans to property registration, you would always need to carry a few essential documents while purchasing a brand new residential property. Besides that, you will also have to go through many documentation processing to establish your legal claim over your desired property. Read this article to know more about the essential documents and the documentation processing you would require while buying a residential and commercial property in India.
The Premise-How Documentation has Become a Priority While Buying a Home in India?
Buying a residential property in India has always been a complex affair. But in recent decades, the exponential rise in property prices has made home buying a more distant dream. In the old days, your long term savings were sufficient to buy residential flats, houses, villas and apartments.
But nowadays, the average market price of residential properties is rising so exponentially that your entire life savings would probably not be good enough to go for an outright purchase.
It is almost unimaginable to buy a property without a home loan in today’s hyperinflated economic era. Besides that, loans are a more convenient and profitable option, as the home buyers do not have to pay the entire payable amount in one go.
On top of that, home loans are also available at cheap interest rates, and you, as a smart buyer, can take the leverage of it by applying for a tax deduction based on the interest you pay for your home loan.
And perhaps that is why more and more home buyers in India prefer to buy their dream properties through home loans rather than paying a huge chunk of payment directly. However, even if you have enough money, you should not go with direct and outright purchases, as it will create unnecessary financial stress and a burden on your shoulders.
So today’s most fundamental challenge for a prospective home buyer is not to arrange the entire payable amount. But it is more about collecting enough money so that they can at least pay off their home loan dues and maintain other allied expenditures such as registration charges, maintenance charges and charges related to deductible tax applicable on the source and statutory duties.
In India, many new home buyers are completely unaware of how to apply for a home loan or, for that matter, even the necessary documents that are mandatory while applying to the respective issues. But to apply for a home loan, you also need to carry a few essential documents without which banks would not even process your application.
Essential Instruments for Property Documentation
Deeds that Establish Your Claim:
- Sale deeds or what is also known as title deeds or conveyance deeds, are a set of essential documents that you must acquire while going through the selling and purchasing processes.
- They are important for both property buyers and sellers. If you are a buyer, these deeds would legally establish your ownership rights over a purchased property.
- And, if you’re a seller, these documents would validate the fact that you are the rightful owner, one who is only eligible to sell that respective property.
- It would help if you always preferred to obtain a registered sales deed issued and registered by the sub-registrar’s office.
Get Information from Mutation Register
- Before you finalize your deal and buy a residential property, you must extract all the necessary and legal information about the last and present owner, their mode of ownership, modes of purchase, land or property configuration and type of the land.
- Consult a field expert from a mutation register that contains data related to these essentials mentioned above.
Government Approved NOC Certificate:
- A NOC or No objection certificate is a vital property document that shows you have zero statutory dues left on your property.
- It is a legal assurance that your property is regularized and does not face any legal dispute, demolition or acquisition as well.
- Get a NOC for your property. Visit the relevant government department to get the issues as soon as possible.
House & Property Tax Documents & Tax Receipts
- Ask your seller to produce at least one photocopy of the last five years of tax receipts and bank statements related to house tax and property tax payments to ensure that the property has no previous house and property tax dues.
General Power Of Attorney or GPA
- Suppose the last or last to last sale/purchase of the concerned property has been done by a person with the legal authority of GPA. Then you need to ask your property seller to bring the original copy and a photocopy of the GPA while inking the property deal.
- The GPA would ascertain that the person selling the respective house or a piece of land or who had sold the same in the last or last to last transaction is/was an authentic person and has all the legal rights and authorization to do so.
Most Essential Personal Documents
- The three most essential documents you must bear while buying a property are the Aadhar Card, the Pan Card, and the Voter Identity Card.
- In India, buyers and sellers would also have to produce their Permanent Residentship certificate or PRC and birth certificate while inking a property deal before the judicial magistrate.
Check out the Building Plan & Layouts
- Please look at the original copy of the respective building plan before purchasing it. It will help you understand whether the building is constructed according to the approved plan or if it has some flaws within it.
- Consult an experienced civil engineer and ask him to find out if the builder has escaped some code of construction.
- Also, you can ask your builder or the seller to provide you with a copy of the building layout. It would allow you to ascertain the authenticity of the builder.
Acquire the Allotment Letter
- While purchasing a property in a residential society or from a real estate builder, you should always obtain the allotment letter ASAP.
- An allotment letter is a legally binding document that shows the data about the paid amount and the outstanding amount of money you need to pay to the builder or the society on account of this property deal.
- An allotment letter would also ensure your possession rights over the property and that it has already been allocated to you for living.
Document of Selling-Agreement
To make sure that the deal is respectfully agreed by both the parties and equally binding to the seller and buyers, you need to ink down an agreement to sell. It will be drafted on stamp papers and will be acknowledged by the sub-registrar.