Give your home a summer makeover

Summer is here, so get ready to give your home a seasonal makeover. Dig out those sun-kissed cushions, nature-inspired decor and wall art to refreshen your space and celebrate summer’s true glory!

Here are some great ways to transform your abode for the summer season!

Walls: Breathe freshness into your summer home with vivid colors. Aqua blue, spring green, sunny yellow, earthy ochre are some of the great choices. Paint the focal wall in your room in these light, refreshing summer-inspired shades.


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Windows: Take down those layers on your windows and let in as much light as possible with sheer curtains. Floral prints combined with pastel-shades can add a great deal of summer charm.


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Wall art: This happens to be one of the easiest ways to brighten up your home. Simply look out for garden art or nature-friendly images, frame them up in natural wood frame and bring home the real spirit of the season.


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Accessories: First and foremost, de-clutter your rooms. Make your space breathable with indoor plants & natural furnishings. Choose furniture made from natural elements to bring warmth and depth to your personal space. Replace silk cushions with colorful cotton throw pillows or floral covers.


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Make your space a happier place to live in with these tips!

If you’ve any other suggestion, please feel free to drop us a comment. We will be happy to include it in our summer makeover tips. Stay cool!


SARE Homes won ‘Excellence in Mixed Residential Development’ Award at the 3rd NDTV Property Awards

SARE Homes, India’s premier FDI-funded developer was felicitated with the award for ‘Excellence in Mixed Residential Development’ across India at the 3rd NDTV Property Awards held recently at Bangalore. The award was presented by Shri Babul Supriyo, Minister of State for Urban Development and Housing, Govt. of India.

Speaking on the occasion, Mr. Vineet Relia, Managing Director, SARE Homes said, “It is indeed a proud moment for SARE Homes. Being recognized on a prominent and credible platform as NDTV, cements our position as a real estate leader across a range of residential segments.”

NDTV Property Awards, which is into its third year, has developed as the most credible benchmark for the industry. The awardees were chosen after a rigorous selection of developers from across India. With this ceremony, NDTV celebrates the highest levels of achievement by companies operating in all sectors of the property and real estate industry. The award function was attended by eminent personalities from the sector, research intelligence and the media fraternity.

In the last one year, SARE Homes has emerged as a star performer in the Indian realty sector. The company has been bestowed with notable recognitions such as the ‘Best Residential Developer in NCR and Chennai’ by the country’s leading industry chamber – ASSOCHAM; ‘Best Emerging Developer’ – NDTV Property Awards; Most Promising Developer with an FDI-model’ – CNBC Awards; ‘Developer of the Year – Northern Region’ – Franchise India Estate Awards; and the ‘Residential Property of the Year’ awarded by ABP News. National Real Estate Development Council (NAREDCO) – an apex industry body has recognized SARE Homes as a brand synonymous with the timely delivery of projects with their ‘On Time Project Delivery Award’.

Selective relief for affordable housing, but big picture missed yet again: David Walker, SARE Homes

The real estate sector’s expectations of being accorded Industry and Infrastructure have been belied yet again.

Union Budget 2016-17 is a mixed bag for the real estate sector. Plans to meet the fiscal deficit target are a good move, since this will leave more headroom for the RBI to opt for a reduction in lending rates during upcoming rate review cycles. The additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh – provided the house cost doesn’t exceed Rs. 50 lakh – is a welcome move too. Also, eliminating service tax for houses built in less than 60 square meters under Central or State Government schemes, including PPP schemes, will boost the affordable housing segment. Excise duty exemption on ready-mix concrete used in construction sites will also benefit the construction industry.

The Finance Minister’s proposal that any distribution out of SPV income to REITs and INVITs with specified shareholding not being subject to Dividend Distribution Tax (DDT) will spur investments in REITs, which had not happened till date since DDT was acting as a major deterrent for investors.

Nevertheless, other small and big measures that could have helped spur a revival in the real estate sector have been completely overlooked. To begin with, a change in income tax slabs was expected, which would have benefitted common citizens. Such a measure would have put more money in the hands of people, making it easier for them to purchase a property of their choice. Coming to the macro picture, the real estate sector’s expectations of being accorded Industry and Infrastructure have been belied yet again. Moreover, no attempt has been made to move towards single-window clearance. Furthermore, some cues were expected about firm action being taken to expedite GST Bill, but there was no mention whatsoever of this important legislation that has been pending for long.



NH-24 – The next-best promising destination in Ghaziabad

The much-awaited launch of Rs. 7,566 crore project for widening the Delhi-Meerut Expressway, commonly known as NH-24 will boost huge development opportunities and create new residential hotspots.

Among the several highways/expressways that connect Delhi to cities, NH-24 is probably the most densely populated, as it interconnected to several other small cities along the corridor. Providing access to Ghaziabad, Noida and Greater Noida, the national highway once fully developed, will connect up to Meerut and Hapur and become one busy stretch. The widening of the expressway will only act as a catalyst for real estate demand and create smart infrastructure development on both sides of the road. Other than that, the development would ease the lives of people living on the Ghaziabad-Indirapuram stretch as this project is expected to decongest NH-24 that connects Delhi with Meerut. Ghaziabad has been in a growth mode for the past couple of years and has become one of the most favorable investment destinations. Considering the large population base in the city, infrastructural developments such as the extension of the Metro route to Ghaziabad and the construction of Delhi-Meerut Expressway project would increase the demand from investors as well as end consumers.

The NH-24 Expressway may also emerge as a hub for affordable housing and could offer solutions for accommodation in the 1-2 BHK category within the price range of Rs. 15-30 lakhs.

Looking forward to the development of the expressway and how it will add a new dimension to the real estate market in Delhi NCR.

Expectations from Union Budget 2016

Like all sectors, the realty segment is hopeful about this year’s Union Budget and expects positive changes like service tax restructure relaxation, single window clearance, long pending industry status that may bring in cheer for both home buyers and developers. Our Managing Directors – Mr. David Walker & Mr. Vineet Relia share their expectations from Union Budget 2016.

Mr. David Walker, Managing Director, SARE Homes

We are keen to see the fiscal deficit target met in the medium term as this will enable the RBI to reduce interest rates – a key element in the cost of housing. We would really like to see the Real Estate Bill put through as it will bring back confidence of home buyers. Further, money paid in EDC charges to local authorities should be escrowed and dedicated towards the development of roads, power and electrification of townships. Tax deductibility for EMIs which is limited to Rs. 2 lakhs should be doubled to Rs. 4 lakhs, providing more relief to consumers. There is an urgent need to sort out the issue of double taxation relating to REITs, which has the potential to bring about $15 billion, providing a good boost to real estate. We also look forward to simplification of taxation via the GST legislation, and hopefully, also having a lower average rate of tax. Industry status to the real estate sector is another factor we’re looking forward to in this budget.

Watch the video for more:

Mr.Vineet Relia, Managing Director, SARE Homes

My primary expectation from this year’s budget is lowering of interest rates because it is an essential element from both consumer and industry perspective. If the government really wants to make ‘Housing for All’ a reality, it will have to come out with some kind of subsidies and tax reliefs or incentives for the industry to create more affordable housing options. It is important that real estate should be accorded industry status and incentives provided for the infrastructure sector should be passed on to the real estate industry. Moving forward, as the infrastructure story picks up, it will be very important that real estate also piggybacks, but for that we need the government to extend similar incentives such as lower interest rates to the real estate industry.

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Invest in these new, upcoming locations of Chennai

With the city expanding at a fast pace, areas such as Medavakkam, Pallikaranai, and Thoraipakkam, are touted to be the upcoming and popular neighborhoods. Located close to OMR, the city’s IT corridor, the areas have seen tremendous realty growth over the last few years. The OMR belt has seen tractions in the recent past, with residential launches along certain stretches of this 26-km road, witnessing good absorption levels.

While infrastructure development has been limited, the primary driver has been the development of huge IT parks and offices that have resulted in employment generation, further enhancing the retail, hospitality sectors.

Offering a mix of projects, the residential markets in these localities are on a high growth trajectory. With increasing land rates, developers are offering mid-segment and luxury residential projects in the Rs. 5,500 to Rs. 8,600 per sq.ft. range, that translate to ticket sizes of Rs. 53 lakh to Rs. 1.35 crore.

Pricing is an important factor that developers keep in mind, says Vineet Relia, MD, SARE Homes. “We need to ensure easy connectivity of projects to commercial complexes, the airport, railway stations, and key arterial roads.” Over 85 per cent of the clientele is from the IT/ITES sector and includes senior management employees, NRIs, and High Net Worth Individuals. Employees from the banking and financing, health and public sector are also keen on investing in these locations.

Infrastructure development is important to sustain the housing demand in these areas. Thoraipakkam has seen large scale housing development activities due to the number of industrial projects in the vicinity. Similarly, Medavakkam and Pallikarnai are witnessing industrial growth, which has led to home buyers exploring these areas.

Some future developments make these areas perfect for steady investment. Three bridges are planned to be constructed across the south Buckingham Canal to improve connectivity between the East Coast Road and OMR. Also, a metro corridor is proposed along OMR and at Medavakkam to boost connectivity and ease of travel. Furthermore, the proposed extension of Pallavaram-Thoraipakkam road up to ECR will provide seamless connectivity for those travelling from ECR to GST Road.

Medavakkam, Pallikaranai, and Thoraipakkam are all set to be the new residential hubs of Chennai. Invest today and enjoy a higher return!


FDI in realty may revive stuck projects & simplify the otherwise complicated process

The new policy for foreign direct investment in the construction sector could help revive several hundred midsize housing projects that have been stuck for want of capital, fund managers and builders.
Earlier last week, the government relaxed FDI norms, removing two major conditions related to minimum built-up area as well as capital requirement.
Each phase of construction now would be considered as a separate project for the purposes of FDI. That means, a foreign investor can exit and repatriate money even before the entire project is completed – which wasn’t previously allowed – if he has been invested for at least three years. The investor can exit also if the project is completed before the lock-in period ends.
According to property research firm PropEquity, close to 2,500 real estate projects in the top eight cities of the country were delayed by more than 12 months and about a third of them were considered to be stuck.
Vineet Relia, Managing Director of SARE Homes which is backed by a foreign private equity fund said, the new rules would benefit their company and now there will be able to pick up many smaller projects at the level of special purpose vehicles that they were unable to do earlier.
These few changes will bring in more money to the fund-starved real estate sector. Liberal rules, including easier exit, mark the loosening of capital control. It will encourage smaller projects and lower the risks of delay.
The new rules will also create room for short-term capital, and increase the supply of good quality urban real estate. However, to have more urban centres with high density and planned amenities, the government must have a robust policy to release urban land. Home-buyers will then be able to buy affordable homes.

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SARE Homes offers a golden platform for the underprivileged with GIFA 2015

Sports is thrilling, challenging and can lead to a big adrenaline rush. But what if sports provided a platform to underprivileged children, and gave them a chance to show their talent?

To create this golden opportunity, SARE Homes, an offshore fund that offers quality and community housing at strategically identified locations across India teamed up with Hindustan Times (HT) to support their initiative HT GIFA (Great Indian Football Action) – a unique platform for children to showcase their talent and learn through play.

SARE Homes in association with HT offered families a chance to help the underprivileged children fulfil their dreams and transform their lives through Football. This child could be the minor domestic help, driver’s son or any other deprived kid. . The aim was to break social and economic barriers and give children from all walks of life equal opportunities.

To maximize the campaign reach, a door-to-door nomination drive was initiated by SARE Homes encouraging housing societies across Delhi-NCR to nominate children who do not have access to sports, to be a part of this tournament. The readers of Hindustan Times were also urged to be a part of this noble cause and suggest names of underprivileged kids to play at GIFA. The winners would be felicitated with world-class training and coaching at the globally reputed football academy, FCBescola, equipped with the financial and infrastructural support, and the best sports gear required for training.

“At SARE Homes, we firmly believe that sports develop children’s leadership qualities and boosts their immunity and academic performance. They also nurture children’s social skills and help them express emotions and gain confidence about their capabilities. However, the lack of playing spaces in our concrete cities is robbing kids of their childhood and turning them into couch potatoes. With this belief, we have ushered in a new concept of sports active living at SARE Olympia, Gurgaon. Built on the ethos of gifting children their childhood, Olympia’s wide variety of professional and international sports facilities will make it every child’s dream home. SARE Homes’ association with HT GIFA is a testimony of its long standing commitment to kids and families, making them fit, healthy and active, says Vineet Relia, Managing Director, SARE Homes.

Maximize tax benefits with Joint Home Loan

-David Walker, Managing Director, SARE Homes

It takes two to build a happy home! Joint investment in real estate increases the amount you can borrow and also helps you reap solid tax benefits.

Buying a home is one of the most important and largest financial decisions that most people make in their lives. In addition to the joy, the independence of owning your own home, it also represents a great investment. For most people the family home is the single most important creator and store of wealth. Therefore investment in a home should be made at the earliest practical time. The key features that make buying a home a great investment are as follows:

  • Rapid urbanization: good employment opportunities with huge demand for family homes
  • Home prices are stable and increase with rising income, which is faster than inflation and so this helps create wealth
  • Loans are available on houses, which means that you get an asset that can be five times your current earnings. The full value of the asset appreciates whilst the loan gets paid off over time leaving you with a substantial capital asset.
  • Significant tax benefits are available on the purchase and loans for housing which help reduce your effective cost of acquisition.
  • The most important of all: tax benefits. There are a lot of benefits for families opting for joint home loans:
  1. The income of both applicants is taken into consideration for establishing the loan and so you can get a higher loan amount.
  2. Most deductions are available to both the applicants so you get an effective doubling of tax benefits.

The main tax benefits are: Deduction of interest, part deduction on principal repayment, deduction on stamp duty and registration charges and deduction on pre-construction interest.

In order to claim these benefits, both co-applicants need to be joint owners of the property. Although a couple may have taken the home loan jointly, this does not necessarily make them joint owners, without which the tax benefits cannot be availed by the partner who is not a joint owner. The property documents also should mention clearly that both co-applicants as owners. For example, a father and son may take a loan jointly, but the EMIs are paid only by the offspring. If the son is not a co-owner of the property despite paying the EMIs himself, he will be unable to claim tax benefits on this home loan. In this case, the son needs to be a co-owner of the property and a co-borrower to claim IT deductions.

If these conditions are met, the tax benefits available are as under:

Each co-owner (and co-applicant in the loan) can claim a maximum deduction of Rs. 200,000 towards interest on the home loan while filing IT returns. But the property should be the only property owned by them and should be self-occupied or lying vacant. For any property given out on rent, the entire interest component can be claimed as deduction.

Each of the co-owners can claim a deduction, subject to a maximum Rs. 150,000 towards repayment of principal amount under section 80C.

In other words, a family gains a larger tax benefit against the interest paid on the home loan when the property is owned jointly and the interest paid is more than Rs. 2,00,000 annually. For example, if the interest component of a joint loan is Rs. 5,00,000, a single borrower can only claim deduction of Rs. 2,00,000 while joint borrowers can both claim the same amount, leading to a total deduction of Rs. 4,00,000. This is an excellent way to augment annual household savings or investments. But do note that tax benefit for both the deduction on home loan interest and principal repayment can only be claimed under section 80C after the construction of the property is completed and possession has been taken, not before. The joint owners can also claim the stamp duty and registration charges paid for the property.

With respect to the joint home owner’s aspect, it’s important that the share of rights in the property should be clearly mentioned in the registration papers. The division of interest will then be claimed in the same proportion in the asset as is owned by each co-applicant. To elaborate, if the ownership ratio of the flat is 75:25 and the loan amount is Rs. 1 crore, the split will be Rs. 75 lakh and Rs. 25 lakh, respectively. The tax benefit on the interest will then be claimed as per the loan amount of each co-applicant. This can be confusing at times in making joint payments. In which case, it is best to deposit the individual amount of the EMI into a joint bank account every month and thereafter make the payment.

Besides the above benefits, through a joint home loan one can also avail of a higher loan amount. This is possible because the bank takes into account the net monthly income of both co-borrowers and then decides on the loan amount available, which is much higher.

But there are a couple of disadvantages too in taking a joint home loan. When there are two co-applicants (or more than two in some cases), the bank or housing finance company will take longer in completing the documentation process. While the joint home loan allows one or both co-applicants to repay the loan, in case one of the paying partners defaults, the credit history of both applicants is tainted. It is therefore important that both partners ensure there is no default in repaying the loan.

Thus, proper due diligence must be done before making an investment or involving your partner in a joint home loan. Make sure you’re buying the home in the best location, within budget and from a reputable developer who will deliver what he has promised. Buying a home is like a solid lifetime investment, it brings joy and independence to you and your family. Other than that, taking a joint home loan is a good strategy as it increases the amount you can borrow and also increases the tax benefits you can claim against your income tax.

Various amenities for Ashberry Homes’ residents

While some amenities are functional, SARE Homes is pulling out all the stops to ensure facilities are operational at the earliest so residents face minimal inconvenience.

Timely delivery with quality construction has always been the mantra of SARE Homes. The Company has adhered to this strategy, which also includes prioritising deliverables in order to ensure buyers do not face the double whammy of paying EMIs as well as rent. SARE Homes is acutely aware that such extra expenditures can overburden families and upset their annual budgets, besides preventing them from claiming certain tax deductions.

Once possession of homes has been done, the next priority is to ensure all amenities and facilities within the complex are made operational at the earliest. In this way, daily hardships of residents in new surroundings are either prevented or mitigated. Thereafter, the Company turns its focus to the recreational aspects of the township.

It is the same operating model that the Company has followed for its project Ashberry Homes in Amritsar, part of the Crescent Parc Township, constructed under the SARE-Impact JV. While the basics are already functional – a round-the-clock security system has been established, 24×7 water supply and power back-up is operational, even the free Shuttle Service from the Township to Darbar Sahib has begun – work on the recreational facilities has been expedited to ensure the 75 existing resident families don’t have long to wait before the promised offers are functioning.

Being a completely customer-centric organisation, SARE Homes believes in going a step further in connecting with its residents so that any issues faced by them can be resolved speedily. The Company promotes a joyful community living culture with a sense of belonging. By celebrating all festivals and functions such as Diwali, Yoga Day, Holi, Independence Day and others with equal aplomb with all residents, SARE Homes’ Township maintains cultural bonds and keeps age-old traditions alive. Such an approach strikes a perfect balance between the traditional and new age way of life, while offering best-in-class lifestyle and living solutions.

While encouraging an eco-friendly design, Ashberry also has provisions for sewage treatment plant and rainwater harvesting. The township is having large open spaces with greenery all around, water fountain and streetlights lighting the whole area. Being managed by globally-renowned company, Jones Lang LaSalle it is one of the best maintained townships across Amritsar.

The Company is trying to pull out all the stops in order to fast-track completion of amenities showcased in the project plan. While the clubhouse with indoor sports facilities and gymnasium has already become functional, the swimming pool plans have been completed and construction work will commence within two to three months.

Home owners can rest assure that SARE Homes will leave no stone unturned in ensuring Ashberry Homes’ residents receive all that has been promised as early as possible.