Land Marvel Commendable Karpagamba Project

This Land Marvel Commendable Project is Located at Raja Street, Mandaveli, Chennai - 28, in a pollution free atmosphere. This Project has Ground + two floors and was Completed in 2001.In a thickly populated area in Mylapore near kabaleeshwarar temple. this commendable project is located very close to railway station and bus stand. It is always bustling with activities. Mandaveli is predominantly a residential area with the main "landmarks" being the Ramakrishna Mutt after which the R.K. Mutt Road is named, the 150 year old Kapali talkies, the Airtel regional office, the Ponds regional head office, Hindustan Lever, and others like Greenwayds road and boat club etc.

Land Marvel comparative data with Asian Real Estate:

Real estate effervesces is at its increased maxima. Consistently investors suppose the declaration to be proper if they observe the fresh expansions in real estate and increases in its rates and prices. Properties in India are confirming to be a venture opportunity increasing investor’s currency in exponential succession. Indian Real Estate news illustrates the accurate marketplace circumstances as is noticeable on different property places. The Indian economy has experienced robust growth in the past decade and is expected to be one of the fastest growing economies in the coming years. As compared to Land Marvel which is also very customers centric, Asia continues to move in a forward motion as far as real estate is concerned and the trend is going to continue, according to the recent survey conducted by some top ranking companies.

Purchasing real estate in Chennai is a rewarding transaction observing the ever-increasing inclination towards property prices. The sky-kissing prices of housing on top of commercial realties crossways the city will positively yield immense returns as an investment transaction. As well cashing in on the existing bazaar circumstances are chief banks and financing institutions of the nation, which offers providing services to builders and investors for a bulky range residential and commercial real estate expansions. 

Chennai Real Estate offers more investment opportunities for populace by way of additional earnings, compared to other Asian cities. Afterward, it has encouraged the NRI populace extend internationally to purchase real estate in Chennai not just for their upcoming residences but also as an elevated return investment transaction. Simultaneously, the rules have been peaceful by the government in the midst of prerequisite for 100% FDI in property bazaar in India. 

The real estate industry in Chennai has witnessed rising valuations and investments. The Land Marvel Construction’s effervesces has been magnetizing mammoth investment in property market and comprises foremost properties and management services. In comparison with Asian real estate market, Land Marvel Homes in Chennai

- it’s about more value for your money.

Constructing your dream home at budget cost (Part-1)

When we decide to build our dream home, many a times we would want to get theconstruction done at budget rates. Sometimes we think we can handle the cost by simply going in for second quality construction items. But rather using bricks and sand that are available and produced nearer to your place can immensely contribute to lowering the cost.

Ways and means of reducing the construction cost:

The cost of construction can be because of two general factors viz., cost of constructionmaterials and cost of labor. By procuring construction materials produced nearer to theconstruction site, material cost can be reduced and by properly planning the construction / work schedule the labor cost can be significantly reduced.

An important point which most of us do not really think over is proper planning. Anyconstruction activity if properly planned can result in substantial cost saving. The more emphasis on beautifying the construction activity, the more is the spending. Rather if we can restrict ourselves to need based construction, cost can be controlled.

Laying the Basement: Laying concrete pillars that are 3-4 feet and 6 inches in thickness may cost 10-15% of the total construction cost. Instead laying a basement with gravel and red soil, and with granite stone basement that are 2 feet in depth can substantially reduce the cost. By using appropriate soil in the basement, cost can be reduced to a minimum of 15-20%. Concrete can be used around 6” and not more than that. This optimum usage of concrete results in substantial cost saving.

Building Wall: Instead of building wall that are 23 cm in width, 15 cm wall can be chosen. This gives twin benefits of not only reducing the cost but also can end up giving more floor space. Instead of traditional bricks, hollow bricks can be used. Aluminum panel windows with glasses can be used instead of wood which has become very costly these days due to non availability of wood.

Generally the outer wall should be built for 9 inches and the inner walls inside the home can be built not more than 4 inches. This thumb rule can result in lower cost. The bricks that are used for constructing need to be soaked in water for 24 hours.

This effectively reduces the need for more water used for curing the wall. In other words, only limited quantity of water is required for curing purpose. This measure not only reduced cost but also has a positive impact on the environment.

 

Home Loans & Mortgage Loans Better Understood (Part-2)

In our last post we discussed different terminologies and definitions that are used in Home Loans / Mortgage loans. In this post we shall discuss in details the different type of interest rates available with various financiers while they provide Home loans. Primarily there are two types of interest rates, one is the “floating rate” and the other is the “fixed rate”Floating Interest Rate

Floating interest rate, also known as “Variable Interest Rate” or “Adjustable Interest Rate” refers to any type of interest rate that is not fixed and keeps varying over its tenure typically using a base rate. In India the base rate is fixed by RBI and the general nomenclature for this is Prime Lending Rate or simply PLR. The actual floating rate of interest paid by borrowers is generally a margin rate added on to the PLR. Very rarely we come across situations where the floating rate is lesser than the base rate.

It is to be noted that Home loans / Mortgage loans in most countries are floating rate loans. In India very unfortunately borrowers predominantly do not understand the concept of floating rate and often mistake that the tenure of the loan is sacrosanct and that it does not change. This can be attributed to the fact that very few borrowers essentially understand the terms and conditions before they sigh the mortgage documents.

Typically, floating rate loans will cost less than fixed rate loans, depending in part on the yield curve. In return for paying a lower loan rate, the borrower takes the interest rate risk: the risk that rates will go up in future. In cases where the yield curve is inverted yield curve, the cost of borrowing at floating rates may actually be higher; in most cases, however, lenders require higher rates for longer-term fixed-rate loans, because they are bearing the interest rate risk.

Fixed Interest Rate

Fixed interest loans are interest rates that typically do not fluctuate at all over their tenure. The borrower in this case can know for sure what is their future payments as it is largely not changed. Generally fixed rates are higher than the floating rates and people generally do not prefer either due to ignorance about floating rate or due to the fact the floating rates are typically lower and can offer lesser EMI in the immediate time frame.

A fixed interest rate is based on the lender’s assumptions about the average discount rate over the fixed rate period. For example, when the discount rate is historically low, fixed rates are normally higher than variable rates because interest rates are more likely to rise during the fixed rate period. Conversely, when interest rates are historically high, lenders normally offer a discount to borrowers to fix their interest rate over time, as rates are more likely to fallduring the fixed rate period.

Further Details : Apartments for Sale in Chennai

 

Home Loans & Mortgage Loans Better Understood (Part-1)

In our first post on the above series, we shall be looking at Home Loans and Mortgage loans more from the Indian perspective, understand a bit of different interests rates available in the market and how banks service

Mortgage Loan – Definition

Mortgage loan generally refers to the loan secured by pledging an already existing home for financial needs. This definition is purely in Indian context. In India Home loans are for purchasing a new home where the disbursement of the loan amount is made in full by the financier / banks or for constructing new home where the disbursement is released in stages by the financier / banks vis-à-vis the progress made in the construction.

Typically in western countries Mortgage loan generally refers to all types of Home loans. According to Anglo-American property law, a mortgage occurs when an owner pledges his or her rights to the property, as a collateral to the loan.

As like any other loans, mortgage loans and / or home loans comes with interest rate and the payment is by generally EMI as per the amortization schedule spread over a repayment period ranging from 20 years to 30 years depending on the policies of the financier / bank that provides with the loan.

Now let us see some popular terminologies used in the financial circle when dealing with mortgage or home loans;

Property: The physical residence being financed in question here refers the property.

Borrower: The person borrowing the loan in exchange to mortgaging his / her interest on the property who in other words is either having or is creating an ownership interest in the property is called a Borrower.

Lender: Usually a bank or other financial institution qualifies to be called a Lender. Typically In India, lenders can also be individuals who lend money. In America, lenders may also be investors who own an interest in the mortgage through a mortgage-backed security. In such a situation, the initial lender is known as the mortgage originator, which then packages and sells the loan to investors. The payments from the borrower are thereafter collected by a loan servicer.

Principal: The original size of the loan, which may or may not include certain other cost refers to the Principal Amount. As and when principal amount is repaid in parts, the principal will go down in size and the loan interest is calculated for the remaining Principal amount only.

Interest: A financial charge for use of the lender’s money is referred as Interest. There are many different varieties of Interests employed by bankers. We shall discuss them elaborately in our next post.

Foreclosure or Repossession: The possibility that the lender has to foreclose, repossess or seize the property after paying the principal along with the applicable interest and other charges if any is essential to any mortgage loan.

Land Marvel Construct Athanthra

Land Marvel Construct Athanthra

The plot is located at Indira Nagar, adyar in South Chennaai in a calm and serene atmosphere, pollution free, shaded trees, cool and quiet. This project has basement, Ground + Two floors and completed in 2007.

 

Land Marvel Construct Sai Kripa

Land Marvel Construct Sai Kripa

 

The Plot area located at First Cross street, Indira Nagar, Adyar, Chennai – 600020. This Project has Stilt + Two floors located in a posh area well connected with all places and completed in 2007.

 

Land Marvel Construct Meena Marvel

Land Marvel Construct  Meena Marvel

 Located at IInd Cross street, Indira Nagar, Adyar, Chennai – 20 peaceful and calm area in south Chennai with access to all important places in Chennai, a residential multistoreyed building has Ground + Two floors and completed in 2007.

 

 

Land Marvel Construct Chetpet

Land Marvel Construct Chetpet

 

The site is located at Jaganathapuram, Chetpet, adjacent to chetpet railway station, Kilpauk Medical college and Hospital off the Bangalore Highway in West Chennai, having easy access to IT corridor, Airport, Colleges and other places in the city, Sterling Road, Haddows Road, College Road, Harrington Road, etc. This project has Ground, Mezzanine + First floor and completed in 2002.

 

Land Marvel Contsruct Purasai

Land Marvel Contsruct  Purasai

 Located at Padavattamman Koil street, Purasawakkam, Chennai in a thickly and dense populated area in West Chennai, well connected to all places in the city. This project has ground, Mezzanine + First floor and completed in 2002.

 

 

 

 

Land Marvel Construct Saradha Kribha

Land Marvel Construct Saradha Kribha

 

Located at Kripashankari Street, West Mambalam of Chennai City close to Mambalam railway station. This project has Basement + Three floors with open car parking space and completed in 1999.

 

Land Marvel Construct Brindavan

Land Marvel Construct  Brindavan

 

Located at Moorthy street, West Mambalam, Chennai – 33 in an ideal and pollution free area in west Chennai, the area is surrounded by residential flats with easy access to all important places in the city. This project has Ground + Three floors and completed in 1998.

 

Land Marvel Construct Mercury

Land Marvel  Construct Mercury

 Located at Navarathna Gardens, Defence Colony in a pollution free area of Soouth West Chennai and close to Airport, GST Road and 100 Feet Road well connected to all the places in the city. This project has Ground + Three floors and completed in 1996.

 

 

 

 

Land Marvel Construct Adhythia

Land Marvel Construct  Adhythia

 

The plot area located at L.B.Road, Thiruvanmiyur, Chennai – 41. The project has Basement, Ground and Three floors located in a posh area well connected with all places and completed in 2006.

 

Land Marvel Construct Meenakshi Sundram

Land Marvel Construct Meenakshi Sundram

 It is located at Trust Cross Street, Mandavelipakkam in South East Chennai in a pollution free atmosphere surrounded by mulitstoreyed residential complex with access to all important places in the city. This project has Ground + Three floors with marvelous elevation and completed in 2004.

 

 

Land Marvel Construct stone Link Manar

Land Marvel Construct stone Link Manar

 

The site is located at Canal Bank Road, Stone Link avenue, R.A. Puram in south Chennai in a pollution free area surrounded by residential complex well connected to all the important places in the city. This project has Stilt + Three floors and completed in 2005.

 

Apartments for sale in chennai

In this post let us have a look at some of the ways in which the drainage is disposed in a more environmentally sound method. In this method, all a Chennai builder has to do is to construct septic tanks or leech pits in which the drainage system is drained. The excess water in the drainage is absorbed by the soil around. The water seeps through the soil slowly by which time the fine soil materials acts as a filter before the water percolates the ground water table. The solid waste is left behind to compost and in this process good garden manure is also left as a by-product.

A slight innovation in the above said method is the use of Eco-san toilets. In rural India, eco-san toilets are increasingly promoted by many NGO. But this system has not been introduced to the urban areas. Chennai builders can cash in on this lovely environmentally sustainable model of sewage disposal as this system does not require extensive pipes, drains or even water.

The common goal of any environmentally sound sewage disposal that needs to be taken note by any Chennai builder who wish to employ this method in their apartment complex and innovate are the systems needs to prevent infection thereby health conscious, it needs to protect the environment by not polluting and wasting water, the system needs to recycle back to the soil what has been taken. One another system is collection of grey-water which is the water collected from kitchen sinks, wash basins, bath tub etc. This grey-water collected is used for flushing toilets. In this ingenious but simple method more than 65% water can be saved. Builders in Chennai need to take note of the fact and can include this method as a USP in their upcoming projects. Raindrops Promoters, a renowned Chennai builder has taken a note of this point and may be employing this method in their upcoming projects.

Chennai builders can also contribute to creating a green future by constructing Flats in Chennai which lets out the collected grey-water in a small man made pond like structure near which a garden can be grown. This can enhance the greenery in the project area. Plants like Canna Indica (Kalvaazhai in Tamil), having the ability to absorb hard polluting elements in the waste, can be grown in the immediate vicinity of the grey-water mini-pond.