We’re ready for the TRID rules!

At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.

CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”

Rainier Title has been working towards the TRID implementation for over a year and felt prepared for August 1st. However, with the proposed delay we will be taking this opportunity to continue our education and training of TRID. While we believe that we have been proactive and ready for this change, there are still so many unknowns that will have to be addressed at the time of implementation. The industry should still prepare for 45-60 days for transaction to close due to the new timing parameters of the forms.

We’re working hard to be ready for all changes!

Real Estate Roundup

Active Home-Building Industry Will Lead to More Demand for Warehouse Space

Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online

To Buy or Not to Buy: That Is the Developer’s Question
Continue reading “Real Estate Roundup”

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World Environment Day

BUILDING A GREENER TOMORROW

Sushma Group has built a name and reputation for the quality projects they deliver. Sushma projects are driven with much forethought and planning which go beyond just construction practices or architecture. It is one of the few Developers who designs its projects around the nature and greens in such a manner that the residents feel the freshness and openness thus rendering a healthy lifestyle.

On this World Environment Day SUSHMA Group distributed saplings at different locations in Zirakpur. This initiative was very welcoming thought and was supported by its enthusiastic employees it became an instant hit at Zirakpur.

Global warming is a threat to all of us and initiatives to counter it is a very encouraging endeavor we need to start doing our bit. Together, we can reduce pollution to a great extent, by planting more trees in the vicinity. This is the thought Sushma identifies with and thus, has charted out on its green movement. This is going to be an impactful initiative as it brings to the collective consciousness, the significance of planting trees in one’s premises, a burgeoning step for a greener tomorrow. Sushma has planned a green initiative which will be a week long drive commencing from 4^th June to 10^th June. To embark on something greater, we need to start small.

Children from the Sushma Crèche also participated in this drive and planted many saplings in and around the area of SUSHMA Square.

SUSHMA has planted 365 days all season bloom evergreen trees in its projects keeping in mind the importance of green areas, it also has minimum density projects.

HEALTHY ENVIRONMENT OR LITTER: CHOICE IS YOURS!

The lush green grass and beautiful open spaces…this is the story presented by every living society these days. And in the beginning, it is true up to all extents!

Sushma Grande

(The quintessential view at Sushma Grande)

However, with the passage of time, start appearing those filthy piles of litter, scattered here and there. While not only these hamper the look of your housing societies, these do lot harm to the health of residents living there, including you and your family!

But who is responsible for it?

Look at the mirror and it will reveal the truth about who is responsible for it.

Let’s turn a dream into reality….

Gandhiji’s love for Cleanliness and Sanitation made Prime Minister Narendra Modi to launch a ‘Clean India Campaign’ with Cleanliness and Sanitation as its pillar. It is our responsibility to lead the campaign and celebrate Gandhiji’s 150^th Birthday anniversary gifting him a ‘Clean and Green India’.The home-work starts with where you reside.

LITT-ER gets huge from LITT-LE

The only cause and cure for litter is ‘YOU’. Clean air, water and food are fundamental rights of a human being. This right can be fulfilled by maintaining a clear and healthy environment.

Smoking and spitting has been made socially unacceptable but littering hasn’t been stigmatized yet. Majority of people identify litter as a major environmental problem, and yet they litter.

Littering at unauthorized spot causes threat to the health of residents as it becomes a home to infectious bacteria. Once the litter reaches the ground, it creates a snowball effect, inviting more and more litter. Litter is not only the source of bad odor; it also affects the beauty of the community.

It is responsibility of residents to keep the society as clean as their home. People living in cleaner and greener areas have much better mental and physical health than those living in areas with litter problem.

An Example set today will be tomorrow’s virtue

Just as Charity begins at home, Sanitation and Cleanliness starts with ‘YOU’ and ‘ME’. The arrogance and ignorance in our attitude stimulates us to litter, imagining it as a duty of someone else to clear our mess.

But as Gandhiji said “Everyone must be his own scavenger”, it is your responsibility to not to litter in your society or on roads. Be a role model for other residents by using designated waste-bins to dispose off your litter, it will help in keeping the society clean.

The basic principle of solid waste management lies in 4Rs: Refuse, Reduce, Reuse and Recycle. Segregate the litter at the source by using different bins for organic or biodegradable solid waste and inorganic or non-biodegradable solid waste.

Litter is an enemy that can be fought with a weapon of ‘Education’.Spread the word to others and teach them to dispose of garbage in the right manner. People feel proud by participating in community clean ups and maintaining a healthy look of the society.

(VIDEO SOURCE: https://www.youtube.com/watch?v=Ej22NMueDoE )

Set an example like Japan has set for others, who recycles 77% of its waste. Litter can be conquered and ‘WE’ all can make a difference.

Love your pets but love your responsibility too

The fundamental duty mentioned in Article 51A (g) of the constitution states thatit is our duty to protect and improve the natural environment including forests, lakes, rivers and wild life, and to have compassion for living creatures. You are benevolent to your pets but do you have same feelings for environment?

Being a pet owner, it is your moral duty to keep the dog waste off the ground, thereby developing a good relationship with environment and your fellow residents. Dog waste is a house to many worms, bacteria and parasites that can be transferred directly to humans, making them sick. Roundworm, for example, is one of the most common parasites found in dog waste and it can remain infectious in contaminated soil and water for years.

Just as you potty train your children; also teach your dog about the same. This is the best way to curb this problem. As a responsible resident, you have to be a ‘Pooper Scooper’. Keep the pets on leash while on road and carry a bag with you to take the pet’s faeces and dispose it effectively. Bury the waste and let it decompose to natural compost.

Don’t be a kid, instead teach your kids

Snack wrappers, plastic wrap, juice boxes and straws are common litter being picked up from playground every day. The education given to kids at home can never be compared to one given at schools.

You have an opportunity to shape the minds of these little humans. Be a good teacher and shape their values and behaviors. Explain them the consequences of deliberately dropping litter in playgrounds.

Don’t just be a dad, be a super dad.

Bring the change you wish to see in others. Take an initiative, gather your fellow residents and work on waste management techniques of your society. Start a hashtag (#) campaign in your society. Take pledge- #HateTheWaste and see the dream of father of our nation turning into reality.

Inner changes create outer changes.

ROUND THE WORLD IN 10 MINUTES

The Imaginary Vision of architects around the world when watered the soil, unique, beautiful and robust buildings came into existence.

An imagination is a vehicle with wings,whose steering is in your hand and you can travel anywhere you wish to go. Let us control the steering of your imagination for a while and make you travel around the world in 10 minutes.

Confused? Just fasten your seat belts and witness the picturesque architecture of the world.

The journey will start from India, following the route of China, Japan, and Russia to USA. From USA we will take you to Brazil, followed by South Africa, Prague, Dubai and then back to initial destination: India.

14921102 – image of a vector world map against a colorful blue sky background.

India–“Architecture is a visual art, and the buildings speak for themselves.”

HAWA MAHAL- Jaipur

The ‘Purdah System’ (A system which forbade women from appearing in public without face coverings) prevalent in ancient India laid the foundation stone of a palace named as Hawa Mahal.

It was built in 1799 by Maharaja Sawai Pratap Singh to allow the royal ladies to watch the life and festivals celebrated in the city without being seen.

China-“Chinese architecture has a completely organic structure; it contains both sensibility and purpose.”

THE FORBIDDEN CITY- Beijing

The Forbidden City is the perfect representation of the authority and culture of China’s ancient imperial families. As the name suggests, the access to the city was restricted to most of the subjects of the kingdom.

Being the most completely preserved classical architectural complex it is listed as World Cultural Heritage Site by UNESCO.

Japan- “Recognizing the need is the primary condition for an architectural design.”

AKASHI KAIKYO BRIDGE AKA THE PEARL BRIDGE

Akashi Strait being the dangerous waterway often experienced severe storms and once killed 168 people, when two ferries in 1955 sank in the strait because of the storm.

The dangerous waterway paved the way for the construction of a suspension bridge linking city of Kobe on Japanese mainland of Honshu to Iwaya on Awaji Island.

(Image Source: https://upload.wikimedia.org/wikipedia/commons/4/45/Akashi-Strait_1.png )

Russia- “Designs of purely arbitrary nature cannot be expected to last long.”

SHUKHOV TOWER- Moscow

The Russian Civil War was the phase which witnessed the construction of the Shukhov Tower, also known as the Shabolovka Tower. It is a broadcasting tower designed by Vladimir Shukhov and hence the name. It is also called as ‘Eiffel of the East.’

The dream to build a 350 metre tall tower was shattered because of the short supply of steel in Russia during its construction time; hence the height was reduced to 160 metre.

The tower was about to become a victim of real estate development, however local authorities saved the tower to get dismantle.

USA- “It is not the beauty of a building you should look at; it’s the construction of the foundation that will stand the test of time.”

FLATIRON BUILDING- New York

Never one of the tallest buildings in the city but the unique triangular shape allowed the building to fill the void located at intersection of Fifth Avenue and Broadway: The Fuller Building.

The steel framed building was constructed as the headquarters of the Fuller Construction company, but this giant skyscraper was destined to be named as Flatiron Building by the locals because of its unusual shape.

Brazil- “Good buildings come from good people and all problems are solved by good design.”

NATIONAL CONGRESS OF BRAZIL

The design of the building results in the perfect balanced emotion, with two opposing sides intersected by a symbol of equality.

National Congress of Brazil is the only building within the central greensward of the eastern arm of the MonumentalAxis and is located at the head of the abstract bird-shaped city plan.

South Africa- “To be free is not merely to cast off ones chains but to live in a way that respects and enhances the freedom of others.”

APARTHEID MUSEUM- Johannesburg

A law of South Africa’s National Party government in 1948 stigmatized more than 20 million people with label of second-class citizens. These people suffered the life of humiliation and abuse which lasted till 1994 when the country’s first free elections were held.

The Apartheid Museum built in 2001 sings the song of inspiring stories of the struggle towards democracy and triumph of human spirit over the misery. The seven pillars with seven befitting words describe the freedom struggle: democracy, freedom, responsibility, equality, reconciliation, diversity and tolerance.

Czech Republic– “Architecture should speak of its time and place, but yearn for timelessness.”

DANCING HOUSE- Prague

No one ever wondered that the bombardment of America on a house of Prague during Second World War will give rise to a beauty which will gain popularity all over the world. The beauty is proudly called as Dancing House or Fred and Ginger (the nick name).

The design of the building was a talk of controversies for lot of people as it was something unique and was not laid on the basic architectural principle of Prague: Baroque, Gothic and Art Nouveau Buildings.

UAE –“We in the UAE have no such word as ‘impossible’ it does not exist in our lexicon.” – HH Sheikh Mohammed

BURJ-AL-ARAB- Dubai

Standing on the artificial island, Burj-Al-Arab is the third tallest hotel in the world. The private curving bridge makes the connection between the mainland and the hotel.

The shape of the structure is designed to mimic the sail of the boat and symbolize the Dubai’s urban transformation. A helipad is constructed near the roof at a height of 210 metres above the ground.

India-“It is not the beauty of a building you should look at; it’s the construction of the foundation that will stand the test of time.”

RASHTRAPATI BHAWAN– New Delhi

The President of the world’s largest democracy resides in Rashtrapati Bhawan. Its stunning architecture is symbolic of Indian democracy and its secular traditions.

RashtrapatiBhavanaka Presidential palace is the second largest in the world after the Quirinal Palace, Rome, Italy. In terms of area, it was the largest residence of a head of state in the world.

Money cannot inject the feed of creativity in someone’s mind, it is fed by the observation and this creativity opens the door of brilliance, thereby gifting the mankind with the masterpiece of architecture.

We hope you enjoyed your journey around the world and witnessed top-notch architectures with a charm and happiness. Our experience and hard work is the ticket of the journey and your smile is the price of it.

CHANDIGARH- A UTOPIAN ARCHTECTURE IN EXISTENCE

The lush green open spaces, decorated with spring leaves singing the songs of praise in unison with uniform buildings standing as tough as Himalayas is the most delightful example of architectural intervention in natural manner.

Credits: ghumledunia.com

Any guesses which place are we talking about?

This is all about the city beautiful- CHANDIGARH!

A glimpse on how it came into existence…

Towards the midnight on 15^th August 1947, Jawaharlal Nehru came up with his speech “Tryst with Destiny” and soon his vision to build a new capital city met the expertise of Le Corbusier ( French Architect), giving birth to Chandigarh.

Chandigarh was based on Nehru’s principle;

“Let this be a new town, symbolic of freedom of India unfettered by the traditions of the past, an expression of the nation’s faith in the future”.

The features of Chandigarh architecture were young, are young, and will always be young. Let’s have a sneak peek into the some lesser known features:

Le Corbusier and his love for ‘nature’

The three pillars on which all the architecture of Le Corbusier stands is: Light, Space and Greenery. The study on sun and wind was always the stepping stone for all his designs in Chandigarh. As per him, the land always injects nourishment to the soul.

The dominance of open space can be well observed in the city. A hierarchy of open space was set, keeping leisure valleys at city level, parks at community level and courtyards became part of front and rear side of homes.

Gigantic Himalayas and vast fields became a source of inspiration for him. It was his love to this scenic beauty that Capitol Complex was his gift to the Himalayas. Capitol Complex is one of the UESCO World Heritage site.

His focus on these three pillars made it an environmental friendly city.

(Source:https://www.flickr.com/photos/scottnorsworthy/5070631944)

Symmetric Design for Residence To Create Harmony

Constitution of India gifted Right to Equality as a fundamental right to all its citizens. The same equality can be seen in residences of Chandigarh. Chandigarh adopted a mechanism called ‘Frame Control’.

Under this, the symmetry in design of residences was maintained. Line and height of building and use of building materials is fixed. Certain standard in size of gates and windows are to be followed. Users are given the leverage to create the interiors of their dwellings as per their requirements. Garden for each and every residence is the biggest positive of Chandigarh architecture.

Everything in life has to have balance and to make sure that the environment looks organized and balanced; Le Corbusier hit the right note by maintaining the uniformity in design of residences.

(Source: https://image.slidesharecdn.com/presentationchandigarh-140716061925-phpapp02/95/urban-planning-in-chandigarh-a-reflection-17-638.jpg?cb=1405491741)

Relationship between Cosmos and Man

“To introduce the sun is the new and most imperative duty of the architect.”- Le Corbusier

The buildings of Chandigarh are designed in such a way that the sunlight penetrates into it even in sunlight scarce season. The incoming sunlight and heat was to be tackled in a manner such that the day hours could be efficiently used in working. Keeping the ‘Law of sun’ as a base, in public buildings and dwellings, some much needed interventions were made.

Chajjas, Jharokahs and Verandahs are provided to fight such environmental problems. The use of perforated shading screens in buildings of Chandigarh controlled the sunlight, making it softer and providing cool daylight.

The “All time solar hours” idea lay a stepping stone for foundation of Tower of Shadows based on the study of the movement of sun.

(Source: http://www.chandigarhguide.com/tower-of-shadow/ )

Colorful and Vibrant Chandigarh

Bright colors used on the walls of Chandigarh buildings are inspired from the landscape, clothing and paintings of ancient India. These colors used in architecture of buildings made Chandigarh always young, open to give and open to receive.

(Source: https://www.theguardian.com/cities/gallery/2017/apr/07/the-city-le-corbusier-built-inside-chandigarh-in-pictures&https://in.pinterest.com/pin/499125571184294532/)

The best part about this architecture is that nothing has affected its essence, and it promises to remain young in the coming years too. Even the present societies (which have been building or are under construction) reflect the fundamentals of this amazing architecture.

Nehru and Le Corbusier had a power to see the invisible in their vision which is still alive and can be felt in the present architecture. Their vision will be passed from generation to generation, thereby creating a never-ending virtuous cycle.

PARKING MANIA- THE RISING PROBLEM IN LARGE CITIES

Ever tried coming home early from office or shopping? Even if you drive so fast, there are good chances of covering a very short distance in triple the time. All thanks to the ever-growing traffic of the cities.

That’s not all! What adds fuel to the fire is, when you come back home with piles of papers or shopping bags, and you don’t find a parking for your car. And this anger reaches its zenith when you find that spot becomes home to the car of your unfriendly neighbor or their guest.

Undoubtedly, parking problem is on rise and it has become a hot topic to discuss over a hot cup of coffee in the brumal day.

Rising car population and parking problem…

The number of cars a family owns is increasing but the parking remains same- ‘The Narrow Roads’. So, it is common to see people fighting for a parking space. Spending 15-20 minutes to find an appropriate spot for parking is quite normal these days. From independent homes to markets, the problem is same everywhere. Independent homes leading to narrow roads and those narrow roads become a parking lot for rising number of cars these days.

Second and more dreadful problem is that these days’ people are pretty careless about parking their vehicles. Having your cars outside the homes is an open invitation to thefts. What if one fine evening you park your car outside home and next day, you don’t find your car?

Sounds scary?

We don’t mean to put you in fear. But this can happen to anyone, anytime! Is there no solution to these parking issues?

The solution is in rising trend…

Wondering what trend we are talking about?

It is all about the switch people are making these days, i.e. choosing a flat over an independent home. The first major benefit is that you can buy a 2, 3, or 4 BHK, anyone as per your budget and need.

And then there are several other reasons behind the increasing popularity of apartment living, including hassle-free parking. Whether it is about your car’s safety or designated parking space, everything comes along. You can live feely, leaving behind the headache of parking and car’s security.

But there’s a catch!

As the trend is on rise so is the parking problem. Do you know total car sales in the country have crossed two million units? The root of the problem does not lie in the parking management. Parking is allocated and managed in societies with thorough research in advance. The problem resides in parking etiquettes.

Being a resident of a society, it becomes your sole responsibility to follow proper parking etiquettes, leaving behind a good example for others.

# Rule 1: You need to understand that any empty space (which is designated to someone else) cannot be a parking point for your car. The parking slots are well defined and allocated in housing societies. So, be responsible to park the car at your designated space, as it helps to avoid any war of words and thereby developing a healthy relationship with your society-mates.

#Rule 2: Obviously, it is difficult for your guests to know where to park their car. Hence, when they arrive, showing them the way towards visitor parking is your duty.

#Rule 3: Remember the #Rule 1, stick to it! But in any case if you have to park your car in someone else’s designated space; make sure you don’t apply the hand-brake while leaving your car. Doing so, if required your vehicle can be moved as per ones convenience.

#Rule 4: Basically, this is a follow up for the former rule. Along with the hand brake left open, don’t forget to stick a paper on the windscreen, mentioning your contact number and name. It will be helpful for them to contact and inform you whenever they need to vacant the space for their usage.

#Rule 5: This one is not concerned to parking though, yet you must ensure that your kids don’t consider the parking lot to be a play area. Else, they might end up damaging someone’s vehicle.

Lastly, be a good resident and follow all the guidelines your society has set for vehicle parking. This will not only make your life simpler, but also help building healthy relationship with other residents. So, happy living begins with you!

SPANISH ARCHITECTURE- ADDING BEAUTY TO LIVING

Spain has not only given ‘US DOS TRES’ to the world, but it has its footprints in other fields too. Especially, when it comes to Spanish architecture, it has always set exquisite designing and construction standards.

A famous architect says, “Architecture should speak of its time and place, but yearn for timelessness”. So, there are three basic principles of good architecture:

Durability – It should stand up robustly and remain in good condition.
Utility – It should be useful and function well for the people using it.
Beauty – It should delight people and raise their spirits.

As far as the first two points are considered, architects have always focused and achieved the same. Often they overlook the third point, leaving something ‘missing’ in the building. It is the Spanish architecture which fills this void, presenting a perfect design for any construction.

Spanish Architecture- Amalgamation of beauty and strength!

The architecture of Spain is blessed with many styles. Some of the popular styles includes, Roman Spanish architecture, Gothic Spanish architecture, Neoclassical Style, Mudéjar Style, Renaissance Spanish architecture, Pre- Romanesque architecture, Colonial Spanish architecture, Baroque Spanish architecture, and Iberian and Celtic architecture.

All these styles share some common features which give birth to stunning buildings. Below we have listed some of these;

Curves and Arches:Curves and Arches are one of the stunning features of Spanish architecture. They are the innovation of Pre- Romanesque period. A simple exterior gets an upper hand when an arch and curve is featured in a window, door or porch. The design delights the eyes, generating a spark of positivity in heart.When focused on, these arches and curves are not only structures but addition of style in the structure. Curved steps paving way towards heart-warming archway to the front door adds an icing on the cake.

(Credits- https://i.pinimg.com/736x/9a/39/f8/9a39f82103e7f1f4225f27740db0a47a–spanish-revival-spanish-colonial.jpg )

Balcony- Worth the spent money
Non-rounded balconies were introduced in Spain in the 18th century. Balconies have been given an integral spot in Spanish architecture. Considering it as a practical aspect of the architecture, spacious balconies were incorporated in the Spanish design to witness the scenic views and take a puff of surrounding air without leaving the home.

(Credits- https://in.pinterest.com/pin/209839663857323114/ )

Painted Tiles

Decorating the basic construction with baroque ornaments gave rise to Colonial Spanish architecture. This style was followed by the Spain colonists when they first arrived in the new world. Painted tiles were used in this phase and they are beautiful characteristic of Spanish influence.

Whether as stair risers or used as kitchen back-splash, these hand painted tiles gives a beautiful touch of Spanish flavor. When different colors and patterns are combined, a priceless art is generated on the tiles.

(Credits- https://in.pinterest.com/pin/51158145742517908/ )

Wrought iron and dark wood work
Dark wood work and wrought iron work can be commonly found in this architecture. Stair railings, gates, lanterns and window grills are beautified by finely crafted wrought iron work. The minute detailing of wood work adds a style statement to your home and society.Frames around doorways and windows are created with precise tile work and wrought iron grillwork. These designs are influenced by colonial Spanish architecture. Wrought iron is seen throughout homes in the Spanish design and this elegant metal contrasts beautifully with natural woodwork and tile.

(Credits- https://in.pinterest.com/pin/Ab6bk1iOfeTgsZ-c3RoUtpY-rtWCFKqkmPBt1DTRoopgZd6P-WxzqBA/ )

Roof tiles of terracotta The red clay roof top is another player of Spanish architecture which gives building and home a warm, earthy and rustic look. To create the asymmetry, roof lines are kept multi-level. This asymmetry creates interest and is a treat for the eyes. Though asymmetrical, but the building remains robust.Terracotta roof tiles have its application in many places at home. They can be used in a kitchen back-splash or roofs making the home unique and cozy at same time.

(Credits- https://in.pinterest.com/pin/319544536052782802/ )

Chimneys resembling TowersThe principle of Spanish architecture is to leave no stone unturned and a full focus is kept even on small details. The chimney is given a special treatment, standing proudly with moldings, small windows and its own tile roof. Terracotta tiling is used in many chimneys and openings can be round or rectangular.To complete the proper look, rustic decorative ledges are used to give an earthy touch.

(Credits- https://in.pinterest.com/pin/278026976965843276/ )

Impact of Spanish Architecture in India

Spain is renowned worldwide for both its architecture and its architects. In terms of UNESCO World Heritage Sites, Spain is the country with the second highest amount of buildings on the list.

The classical touch, opulent structures and a space that makes you feel like king are all features of Spanish architecture. There are many beautiful and famous architectural styles available but Spanish architecture is no doubt the favorite choice for all the home buyers.

Spanish architecture has always been an inspiration for India. Viceregal Lodge (Rashtrapati Niwas) located in Shimla, built during the regime of Lord Dufferin is one of the finest examples of Spanish architecture.

(Credits: http://s3.india.com/travel/wp-content/uploads/2016/03/15-travel-viceregal-lodge-1.jpg)

The themed residences are gaining a lot of popularity in India. People want a complete package in their investment. Spanish architecture is being incorporated by many Indian celebrities at their richness personified residences. Due to its gaining popularity, even new age residential projects for masses are being available with such themes.

“Architecture is a visual art, and the buildings speak for themselves”.

SUSHMA BUILDTECH LIMITED – CEMENTING THE RELATIONSHIP!

Taking a sip of coffee, one fine day I was sitting in my balcony when I realized that my work anniversary is getting closer.

Neha Luthra- Sushma

All the memories of my past, my experience started to knock at the door of my mind. I was taken back to those days when I joined this industry and Sushma Buildtech. My experience at the company has been full of challenges and but with immense learning, which has helped me evolve professionally and personally, both.

My takeoff with Sushma Buildtech Limited…

I became a part of Sushma Buildtech Limited on 7^th December, 2009 as a Marketing Executive and at present I am the company’s oldest employee. I still remember the day of my interview, I was little nervous and excited at same time.

The one thing that impressed me most about the company was their process adherence. They were getting into every minute detail to ensure the consistency and accuracy.

My growth with Sushma Buildtech Limited …

I grew along with the company and witnessed its expansion. I actually learnt how important the quality of the workplace is to employees and the resulting impact it can have on progress and productivity, loyalty, satisfaction, and retention in a knowledge industry.

Every time there were lots of expectations backed up by wealth of motivation which helped me to find a way not only to meet those goals but exceed them. This can only be done with a great team support of dedicated individuals who were sharing the same drive to reach higher than ever before. The reason behind this enthusiasm is that all the employees are treated equally. This level of motivation, hard work and enthusiasm paved the way for us to get nominated for plenty of rewards.

As the time passed, Sushma Buildtech just became like family to me. It was the organization’s love and compassion for their employees which made them feel like a family. Having great colleagues everyone loved coming to work every day, thus a great synchronized team delivers the best to clients. The team we have built today helps to continuously move forward and gain success. And I can’t wait to see what the future has in store for the Sushma Buildtech Limited group.

My Bond with Sushma Buildtech Limited …

I still remember the day when I had to part the ways with Sushma Buildtech due to my wedding date coming closer. Getting married in New Delhi meant an end to my journey with organization. But luckily, it wasn’t so!

Just the way, we as a team had been working to fulfill the dreams of our customers, looking for best apartments in Chandigarh, Sushma Buildtech once again brought forth the best opportunity for me. Yes, it was no less than a surprise when they came up with an idea to open a branch in the NCR region and offered me to operate from there itself.

That decision of the company was an overwhelming endeavor for an employee like me. This never ending bond which will always be cherished!

What they commit, they deliver and what they deliver always touches your heart.

Finally, I came back from my dreams and realized how lucky I am to be the part of an organization like Sushma Buildtech Limited. They care for us and we care for them, and together we make a trusted brand that care for every customer!

GST Effect On Real Estate: Is it so complex?

Should GST be applicable on real estate?

It is certainly one of the most talked about topic across the nation.

In fact, GST discussion has heated up among all the political parties in India. Whether it is about Rahul Gandhi, the Vice President Indian National Congress party addressing GST council or Manish Sisodia, Delhi Finance Minister writing letter to ArunJaitley.

Meanwhile, Bihar Deputy CM and GST council member, Sushil Kumar Modi has made it clear that the inclusion of real estate in Goods and Services Tax (GST) is “not that easy” and would take “much longer time”,the world of Real Estate is now looking forward to council’s next meeting.

Well, you will have to wait for what conclusion will this hullaballoo lead to. But being a prospective homebuyer, you must be pondering over the consequences if real estate should be brought under GST. Will GST benefit the homebuyers? Or will it affect the home prices in India?

So, here we have tried to compile the best possible answers to quench your thirst for queries related to GST and Real Estate. These will include;

How will GST impact real estate?
How will GST affect developers?
What about the ready-to-move-in homes?
Will a slightly higher GST rate be acceptable to buyers?

Before you dig out the answers, you need to have a look at the list of taxes which are applicable on real estate and construction industry currently. Check out the info graphic stating them at a glance:

Now with the launch of GST, it is expected to subsume these multiple indirect taxes. So, it tends to simplify tax compliance, meanwhile minimizing the scope for double taxation. This means that there will be clear reason for home buyers to cheer. Sounds good, right?

How will GST impact real estate?

Regardless of the fact that real estate sector accounts for around five per cent of India’s gross domestic product (GDP), the sector deals with macroeconomic conditions and fiscal policy decisions. It also includes the management of the multiple indirect tax levies, including VAT, service tax, excise, stamp duty, and registration fees.

How will GST affect developers?

Similar to the buyers, GST is expected to be helpful for the developers too. Actually, it is expected to bring down the project cost as there are many taxes and duties being paid by a developer on the procurement side. From Central Sales Tax, excise duty, entry tax, to Customs duty, there are different charges which are subsequently passed on to the final pricing of the property.

In such a case, when GST proposes to roll multiple taxes into one, it can be expected for the cost of construction to come down. Hence, more liquidity into the market and boost in home sales is anticipated. It is a win-win situation!

What about the ready-to-move-in homes?

As far as the under-construction projects are concerned, developers will have the option of getting full input set-off credit. However, ready-to-move-in flats have been kept out of the GST ambit. So, these will remain unaffected.

Will a slightly higher GST rate be acceptable to buyers?

Buyers need to know that they are not liable to pay any indirect tax for the purchase of ready-to-move-in properties. Hence, the impact of GST on buyers of resale properties will be very little.

As far as the under-construction property transactions are concerned, buyers have to pay value-added tax (VAT) and service tax. Being a state levy, VAT rate differs from one state to another, and service tax is a central tax which is charged at 15 per cent. So, the current taxes on home purchase are high and of course, accompanied with mind-boggling complexities. In fact, no amount of research can help the buyer to know the right rate he is paying. Among the lengthy government documents, which are highly interpretative in nature, there are good chances that you might get lost in the study.

To cut down on this, GST will introduce a clear uniform rate, i.e. one tax which includes everything that they you pay in taxes to authorities. In short, the whole payment process becomes highly convenient. So, even if a higher rate appears through, it might be more acceptable to him than a lack of clarity. Isn’t it?

To conclude, due to the lack of clarity on abatement for land value, the exact impact of the GST on real estate will be difficult to gauge at this stage. However, transparency in the tax system will certainly bring forth changes and benefits, which will be passed on by the developers to the purchasers.

For the time being, we can just wait for the GST council to take arighteous decision that favors everyone!

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