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The real estate experts suggest understanding the impact of the Covid-19 pandemic before your property buying expeditions.

Buying a home imposes financial burdens on investors since they have to cough up money for the down payment and pay EMIs every month for several years. And the Covid-19 epidemic only adds to property investors’ woes.

Now, if you were planning to purchase a home this year, the unexpected turn of events may have left you wondering how to go about your plans from now onwards.

However, you should first understand how the pandemic affects the real estate market.

Real Estate Sector against the Covid-19 pandemic backdrop

For some time now, the realty sector has been tackling a credit crisis, slackening economy, and rising inventories. And, with the recent Coronavirus epidemic, the scenario seems to become grimmer.

Owing to the nationwide lockdown, most construction activities were halted. And many laborers were seen returning home due to uncertain times ahead. As a result, the construction industry has to grapple further with labor shortage in the near future. This will lead to disruptions in the recovery course of the real estate sector.

To complicate things further, several developers have taken large-scale loans. And, if they cannot redeem their value, they will be dealing with a liquidity crisis soon enough.

Having said that, the government recently advised the state governments and union territories to prolong by six months the property registration process and deadlines of all certified projects which will expire on or before March 25^th, 2020. Also, they must comply with the stipulated instructions without any separate applications for further easing the stress of property developers.

Additionally, the Reserve Bank of India announcement to slash repo rate by 40 basis points to 4% will offer some relief to the developers. However, no clarity of when the realty sector will recover is yet coming forth.

The pandemic crisis from the Home-buyers’ standpoint

Conversely, if you’re a current home-buyer who has taken possession of your property and your income sources have not been affected due to the Coronavirus pandemic, then you stand to gain.  Because home loan interest rates will touch new lows owing to the RBI’s latest repo rate cute notification.

The groups who are servicing a repo rate-linked loan can expect their EMIs to subside soon. On the other hand, those people who are servicing MCLR-based loans may have to wait for some time until the lender resets such loan rates.

Plus, lenders have been instructed by the Central bank to extend the loan moratorium option to borrowers by an extra 3 months. In turn, the borrowers can manage their finances more efficiently amid these extraordinary times.

Even so, you must note that this EMI holiday is not a waiver but only a repayment deferment. Besides, interest rates will continue getting accrued during these 3 months. In the process, your EMI burdens will start mounting – particularly, if you’ve recently started repaying your home loan.

Your best bet is to go for this facility only if you’re having financial troubles. Also, if you plan on availing this option, make sure you have a sustainable plan to prepay the accrued interest during the moratorium after the expiry of the EMI holiday.

Moreover, the government’s initiative to extend the deadline of the Credit Linked Interest Subsidy Scheme (which comes under the Pradhan Mantri Awas Yojana) to March 31st, 2020, could realize the home-buying aspirations of middle-class families amidst the ongoing economic hardships.

As part of this scheme, families having annual household incomes in the range of 6 lakhs to 18 lakhs per annum are eligible to avail the benefits of an upfront interest subsidy up to Rs 2.35 lakh on the approved home loan for one more year.

Nonetheless, if you have not yet taken possession of your property, you have to wait for some time because of construction lags. And if you’re looking to purchase a home, you might be better off with a developed property as compared to one that is under construction. Further, you could get better offers because the latest developments can drive property rates to go down shortly – many experts and property managers say so.

However, if you’re equipped to take some risks (including delayed completion or other market-linked ones), then you can consider investing in under-construction projects. Only be on the safer side by checking the builder’s record, credentials, financial holdings, RERA property registration, and bank partnerships before finalizing your plans.

So, how should you move ahead?

Keep in mind that the Covid-19 crisis will lead to property registration delays and other clearances. More so, since people are losing income sources, they may not be able to pay EMIs.

Simultaneously, the post-Covid-19 era will witness a fall in property prices because of low loan interest rates. Thus, prospective homebuyers should consider all related aspects thoroughly and take practical decisions.

Finally, if you’ve purchased a property recently or intend doing so after easing of lockdown norms, you may not want to delay purchasing a home-loan insurance policy or term insurance policy – so, you’re well covered. Talk to your property management company, real estate advisor, or financial planner for they can help to draw viable strategies.

LuXia can help you!

We are a property management company in Delhi NCR catering to the end-to-end property needs of home owners who have their property in India. If you are stuck with your property possession, or property registration, or rental property management, or interior designing, our property management services can help you.

contact@theluxia.com |   +91 9810505543

The benefits of using a Property Management Company are manifold. By watching the latest Bollywood movie Gulabo Sitabo, you can learn that how by not hiring property managers, you run the risk of losing your property. More so, you can know how to increase the rental values of your property by availing property management services.

The term ‘Gulabo Sitabo’ originates from conventional glove puppet theatres of Uttar Pradesh in North India. Also, the show has two heroines namely Gulabo and Sitabo. Sitabo is the jaded and overburdened spouse. And Gulabo is the enticing mistress of Sitabo’s husband.

Just like both protagonists Gulabo and Sitabo are constantly at loggerheads with each other, Mirza and Rastogi are wrangling throughout the movie ‘Gulabo Sitabo’.

By using our property management services and with our property manager being a single point of contact for you and your tenant we can help you avoid those uncomfortable conversations and dealing. In fact it helps a lot to use professional services both – as a landlord and as a tenant to avoid any disputes and for a comfortable “renting”.

GulaboSitabo – The Movie

Shoojit Sircar deserves applause for making people familiar with the intricacies of tenant and landlord relationships through this film.

The movie hovers around Fatima Mahal, which is a dilapidating mansion or Haveli in Lucknow.The owner of Fatima Mahal is Mirza’s wife, Fatima Begum, who is portrayed by Farrukh Jaffar. Amitabh Bachchan essays the role of Chunnan Mirza Nawab, who is the husband of Fatima Begum. And Mirza longs for the death of his wife so he can gain complete control of the haveli.

The rooms of Fatima Mahal are leased to several tenants; most of whom do not pay enough rent. One of the tenants of the haveli is Baankey Rastogi; Ayushman Khurana portrays his role.

However, Mirza and Rastogi are always squabbling. Because Rastogi fails to pay his long-overdue rent and comes up with different excuses for not coughing up the money every time; even though, Rastogi pays lesser rent than the other tenants.

Plus, Rastogi is constantly nagged by Mirza to clear the dues. Then, one day, in a fit of anger, Rastogi kicks the wall of a toilet block that comes tumbling down. This enrages Mirza and he demands Rastogi bear the wall repair charges. Expectedly, Rastogi refuses to meet Mirza’s demands, leading to legal tangles between them.

How LuXia could have helped Mirza (The Landlord)

Now, Mirza would have benefited; if he had availed Luxia services that come under the property management of landlords.

Here’s how:

• Upon hiring our property maintenance services, his property would have been well-managed and maintained and, in turn, his toilet wall would not have collapsed.
• With proper knowledge of property legal services and transfer of title, he would stand to benefit by taking the necessary action to save his property
• Property managers would’ve helped maintain the requisite documentation of property papers
• Property management service companies could’ve conducted verification of his property documents
• Drawn a legal rental agreement between the tenant and landlord, mentioning the duration of stay and monthly rent charges
• Been aware of how the tenants were planning to usurp his property and taken steps to thwart their devious plans
• Developed better rent management skills, while charging higher rent, to avoid the tenants taking advantage of the situation
• Hired interior designers to remodel the haveli and, thus, gained from higher rental values
• Through property registration services, and via legal channels, he may have salvaged the mansion

Save your “Fatima Mahal” by using our Property management Services

So, we have seen how Mirza lost his ‘Fatima Mahal’ because he did not avail the benefits of professional property management services. Do not be like Mirza, smarten up and save your property from being taken advantage of.

Call us now and let us discuss how our property managers can help you reap rich dividends with our viable solutions.

contact@theluxia.com |   +91 9810505543

In the current situation of the Covid-19, the world accepted and embraced the new working culture that is ; Work From Home. So as to maintain the social distancing and minimize the spread of the virus.

With the introduction of work from home culture came the ergonomics requirement of home offices to deliver more productivity without hampering one’s health.

This article talks about the required ergonomics for a comfortable home office.

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Let’s get started on the inexpensive, yet impactful design tips for a comfortable home office

Notwithstanding where you work from – whether in the fields or on desks or behind wheels – never underestimate the importance of ergonomics. By adopting the right ergonomic approach, you can reduce physical strain on your body. Conversely, if you fail to do so, then you’re sure to complain about muscle pain, pinched neck, and aching wrists, after 8 hours of work of leaning on your laptop from upon your couch or bed.

Now, if you’re working from a desk or table or workstation, simply follow the below-listed tips for creating a healthy, ergonomic workstation. For the same, you need certain tools and furniture that you already may have. Else, you can make some additions to your existing home office design.

1.  Choose your location wisely

The location of your home office set up is an important consideration. That said, you must choose a place where you do not slump on your couch or lean over uncomfortably. More so, do not sit facing a window directly because the glare can disturb you. Consider sitting perpendicular to your window or closing the blinds to reduce exposure to the sun’s blaze.

Additionally, assign a particular place to work from – preferably, a room with a door. Then, you can maintain a work-life balance while leaving your workplace when your work for the day finishes.

A vital step when choosing the right work from home location is to adjust the appropriate surface height to sit when you’re at work. Make sure your elbows are at a 90-degree angle while relaxing your shoulders. An ideal solution is to work from a desk that conforms to your height.

2.  Pay attention to legroom

Office hours are generally set from somewhere between 8-10 hours. And for these many hours it becomes essential to ensure ample leg space at your workstation.

The amount of legroom you have underneath your desk is normally determined by its depth. If possible, go with at least a depth of 600 millimeters in workstations. Along with this, it is also imperative to declutter your desk from underneath too, so as to utilize the complete depth.

More so, do not have your desk too close to the wall, because your feet can continue to hit the wall otherwise.

Though, you can also avail desks having pull-out extensions, by way of which you can create depth for making your home office comfortable with extra leg space.

3.  Height up your desk

As a good ergonomics practice, it was initially advised to have your desk at a height of 680 to 720mms above the floor. But with changing time and people growing taller on average, this measurement was increased to a roughly average of 730mms desk height from the floor.

Although this should not be considered a benchmark of measurement. You can always feel free to increase or decrease the height of your desk with respect to the height of the person using it or as per the demand of the work done on the desk. This is where adjustable furniture kicks in for a comfortable ergonomic in offices.

All in all when you work on your desk just see that your elbows rest at desk height with your feet flat on the floor, and your knees bent at a 90-degree angle and your back straight.

4.  Get the right chair

As part of your work-from-home endeavors and for getting the home office ergonomic code right, use chairs that allow adjusting the height. Of course, you can place a cushion atop your chair as well. However, you will be more comfortable with office chairs that allow adjusting of the backrest, tilt, and height.

There’s a smart trick to check if your work chair’s height is right for you or not. Just stand next to your chair and see where your legs come with respect to the seat of the chair. Ideally, your knees should touch the seat of the chair. Again, this may also vary as per the height of a person.

Preferably your spine should be straight or resting at roughly a 100- to 110-degree angle against the back of your chair.

5.  Eye to screen height

You must adjust the monitor or laptop screen such that your line of sight comes under the top third of your screen. Here’s a quick tip to elevate the screen; you can place books below to uplift the screen.

You can also use an external keyboard and mouse for greater flexibility and additional space to spread your shoulders.

Now, if you’re using a laptop, you can use external equipment for elevating the screen. Only place the external keyboard below your laptop or desktop screen. Also, do not sit away from mouse and keyboard or you could hurt your muscles. Instead, you should have your elbows close to your body center to be comfortable.

6.  Consider standing desks

If you’re planning to work from home, then why not avail interior designing for home services? As they are professionals and work closely with leading trends not only w.r.t. aesthetics but also for health benefits.

One such health benefit is to incorporate standing desks for improved health and productivity. Having said that it is important to understand that too much of everything is detrimental. That means you will have to switch between your positions (standing and sitting) so as to balance the stress. For this you can assign a desk/table with adjustable height feature that can be extended up to 1200mm above the floor.

Along with this also see that when you stand up to work, your desk should be at elbow height and your monitor should be at eye level for a balanced posture.

7.  Light up your work space

One of the best home office ideas is to ensure your workplace is adequately lit. To get the home office lighting right, position your screen such that it refrains from any direct sunlight flashing from behind you onto your screen to minimize reflection and glare.

Similarly, ensure that your work screen is not placed in front of a window that gets direct sunlight as it will throw a shadow on your work, thereby making it uncomfortable to work.

But, if your medium to work is pen, paper or any flat surface (basically anything other than a screen) then this type of positioning with direct sunlight can be perfect to light up your workstation.

8.  Substitute cupboards with drawers

When designing your home office from scratch, try utilizing drawers instead of cupboards.

Any prominent property management company in Delhi NCR will vouch that many of their NRI clients receive requests from their tenants for replacing cupboards with drawers in these times of work from home dynamics.

This is because they can find tools easily in drawers as compared to rummaging through dark and dusty cupboards. With drawers you can easily segregate the smaller but important objects in different drawers and you will not have to go through the back of the cupboards to find these smaller items. In fact, you can also mark the drawers and place your important files as per the markings.

Drawers are your best pick for smaller home office items. Of course, for the bigger objects cupboards still hold value.

9.  Have the power points within your reach

While working you plug and unplug your laptops and phones frequently, right? So, you may want to install the power points where you can reach them with ease.

More precisely if possible, place the board with the power points within your arm’s reach to save your spine and shoulders from unnecessary stress.

10.  Take breaks often

Never sit in your chair all day long, even if you have an ideal office set up. Keep changing your position every 30 minutes or so and also give a soft blink to your eyes every 20 seconds to keep them from straining.

Make way to design your ergonomic office today!

So, we have listed the important aspects for you to ponder upon when building your ergonomic home office. Even so, for building a perfect home office from scratch, only call upon the experts for they are well-versed with the nitty-gritties of ergonomics to keep you comforted all through the day while you tend to your work. But if you already have one consider incorporating these tips for a comfortable work from home environment.

LuXia can help you!

LuXia is a full-service property management company in India with interior designing as one of the forte. We can help you design your home office ergonomically without any hassles. Get in touch with our interior designers to walk you through the process.

contact@theluxia.com |   +91 9810505543

Good luck!

Mike Tyson, the renowned boxer, had once commented that “Everybody has a plan until they get punched in the face”. The same rule applies to the real estate sector, including the residential property management industry.

Now, any property management services company will vouch that the real estate sector was hit by three tsunamis. These include demonetization and legislations including the Real Estate Regulation Act and the Goods and Services Tax. As a consequence, the industry became weaker, which was contrary to the noxious highs that were seen during the previous years.

Before the onset of the Covid-19 epidemic, the realty sector was struggling with several issues. Inventory outcropping, various issues of customer resistance, and uncompleted projects throughout the country – all are included in this list.

Not only was the industry grappling from tons of surplus inventory and moderate demand and falling sales and dispirited investors, but also puny balance sheets of several developers, some of whom have vanished. In turn, nobody was availing rental property management services too.

Additionally, the crashing of DHFL and IL&FS piled on to the real industry crisis. As a result, the NRI property management companies also took a hit.

The developers were backed by high-end octane-driven debt financing, which many NBFCs were depending on for the money inflow for refinancing projects. With the collapse of the NBFCs, the party was over.

Also, liquidity was most sought after, resulting in NBFCs scrambling for funds to reduce their troubles.

Several financial institutions were into short-term borrowing and long-term lending, particularly on illiquid realty assets, several of which did not start. Consequently, the NBFCs were facing a huge asset-liability disparity.

The records were suggesting a distraint property market.

Going by the recent reports, real estate developers in seven main Indian cities had unsold stock touching around Rs 3.7 trillion. Further, over 60000 houses were not bought. Consequently, the rental management companies were recording dwindling revenues.

Owing to the Covid-19 pandemic, workers are also leaving the construction sites and heading home due to the uncertainty that plagues the world over.

Deepak Parekh had also pleaded the Reserve Bank of India and other related stakeholders for a one-time loan restructuring plan for revising the non-performing assets recognition regulations to 180 days rather than the prevalent 90 days.

However, the Covid-19 pandemic has presented an opportunity for numerous special situation realty-based funds. They can play the role of catalysts for giving the requisite liquidity boost and stimulus to the real estate sector. Plus, the property management companies in India stand to benefit.

Such special situation funds (SSFs) require restructuring holistically to include the big-bracket private equity funds, especially the ones that have been investing in commercial properties with big corporate developers, who can contribute to executing and marketing projects while keeping their expertise in mind.

With the sponsored vehicles getting the backing of large foreign PE shops and big developers, they can obtain substantial projects that are blocked due to liquidity issues and lack of other resources.

Due to the comparatively low valuations of unsold inventory, the specialized vehicles can adopt stressed projects at discounted rates, which can create sufficient incentives for the economic structures.

For example, large-sized private equity companies (like Brookfield and Blackstone) can team up with renowned real estate giants (such as Oberoi Constructions and Godrej Properties).

The combination of both partners can lead to buying out the current distressed developers’ projects and complete them by providing the requisite funds, with the needed expertise brought in by the development partners.

By doing so, customer confidence can be restored, with assurances of timely delivery. Moreover, prospective customers avail home loans from banks. Keeping in mind the renowned brands associated with the project and assured financing, the banks will be comfortable giving loans too.

Besides, with the finance ministry announcing the suo moto extension to all real estate project timelines by six months, the SSFs have greater incentive and more time to evaluate all uncompleted projects.

These special vehicles can help in reducing the troubles of the large-sized projects that remain stuck around the country.

With the real estate market witnessing an upswing, people who invest in property and live elsewhere can avail the advantages of property management services as well.

A prominent property management company in Delhi NCR can help you to get tenants if buying an investment property too.

Looking Forward to the progressive Real Estate Market

We must not forget that the construction sector stands only second to agriculture with respect to recruiting employees. And by extending the required support, the real estate industry can start booming once again while reducing the unemployment levels. In the process, the country will benefit at large.

A good way to usher in the new decade is to remodel your home. To mark a fresh beginning, you can simply roll on some fresh paint on your home walls or add interesting artefacts to your gallery. And if you’re looking to make a lasting impact, then only opt for any of the top home decor trends of the 2020s.

Also, if you are interested in refashioning your home to attract tenants, the rental management companies will vouch that you’ve made the right decision; and maybe, they can help you to shore up your rentals too.

So, here we go.

• Go Vintage

Vintage seems to be making a comeback in the 2020s. As such, interior designers in Delhi NCR are adding a few statement pieces from furnishing items that were popular during the 1800s and 1900s – including spindles and spooled legs.

• Navy blue at the fore

Classic Blue, which is navy color, was declared 2020 Pantone Color of the Year. Navy blue is both versatile and elegant.

In residential interior designing services, navy blue offers the right amount of contrast in both conventional and contemporary styles for both your private interior and exterior spaces.

So, whether you’re seeking interior designing for kitchen services or want a makeover for your room with contrasting white hues and wood furniture, navy blue is the way to go.

• Color-burst cabinets

When hiring the services of an interior designing company in Delhi NCR in the 2020s, go with colored cabinets. Yes, say goodbye to the all-white look of your kitchen. And instead, add elements such as kitchen wall cabinets or kitchen islands. And, as for your base cabinets, the popular choices are loud colors such as navy blue, vivid yellow, or dark red.

• Canopy Beds

In the 2020s, as part of interior design for home, canopy beds seem to be making a comeback. And, no, they are no longer crowded with heavy materials and bulky headboards. The latest versions come with smooth decorated frames, metal-based designs, and acrylic.

• Floral-designed wallpapers

If you’ve been avoiding floral wallpapers all this while, then maybe you need to rethink your choices in the 2020s. This time around though, they are available in updated patterns. Take your pick between the metal-based designs, larger blueprints, and loud shades.

Plus, if you ask any property management company, they are sure to tell you they’ve noticed their clients opting for the latest designs of floral wallpaper for refurbishing foyers and powder bathrooms.

• Contrasting colors are here to stay

If you’ve always been a fan of high-contrast designs, then now is the best time to indulge yourself. For many years, the all-white designs were dominating the market. But, now, people seem to be making a shift while choosing both black and white for the much-needed room uplift.

So, you may see chairs having a white frame with black upholstered designs. Or, console tables in dark-colored woods with white-hued hardware.

• Patina finish

Among the emerging interior designing trends are patina accents. Along with vintage furniture, expect to see more of patina playing out and that too, in colors of terracotta and clay.

• Texture will rule

2020 designs are not only about color but also texture. Interior designers are piling up textures in similar shades to liven up rooms. And if you’re a fan of neutral colors, then only find newer ways to decorate your rooms with your favorite shades using textures – do not use many colors though.

In living rooms, you can add texture through furnishing items (like blankets and cushions). Even so, consider texturing via plant-based designs and well-etched arts.

FINALLY

In addition to the above 2020 trends, cozy fabrics will become ragingly popular. So, move over the luxe grand velvet designs and make way for the soft-textured fabrics, which are perfect for unwinding with a good book in tow.

Get in touch with our interior designing company in Delhi NCR to get a home of your dreams in sync with the latest trends.

contact@theluxia.com |   +91 9810505543

The benefits of investing in real estate over the long term are manifold. By investing in income property, you can put your idle cash to work.

What’s an investment property anyway?

“Buying a property to earn revenue is referred to as Income Property.”

Both residential and commercial properties come under income property. Investors earn money by holding and renting the property until the value appreciates, following which they sell for a profit.

More so, if you’re looking to get higher rents for your income property, consider hiring the services of interior designers for remodeling your property to increase their rental values.

Several companies are offering the entire plethora of services. These include rental property management, interior decoration, and residential property management services. And you can approach a property management company in Delhi NCR for interior designing for homes in Delhi NCR too.

However, before investing in income property, the general recommendation is to calculate the risks, expected earnings, tax benefits, among other important aspects.

Here are 5 benefits of investing in income property.

1) You’re in control all the way

As an investor in income property, you take all the decisions – regarding rent and maintaining the property when renting out to tenants.

Also, you can avail services of such as VRBO and Airbnb for listing your property to offer accommodation to travelers. Or, hire the services of a property management company to help you connect with interested parties. And if you’re residing out of India, you can avail their NRI property management services as well.

2) Greater property value

A noteworthy benefit of investing in real estate is that you can pay some amount from your savings while borrowing the rest from lenders; they lend up 20 times more. Yes, you can leverage a property. Though, if you use more debt than equity, your investment will be ‘highly leveraged’.

Over time, your property will appreciate and you can earn appreciation profit even after clearing your interest and other dues.

3) Higher Earnings

By having tenants in your investment property, you can earn rental income. And whatever money remains after clearing all related property expenses (mortgage payment, maintenance costs, and vacancy charges) constitutes your profit.

4) Lower your mortgage

You can avail the 30-year fixed-rate mortgage loan. Such loans have interest rates that remain constant for the full 30 years of the loan. You may pay more money to interest than the principal during the initial years of the loan. Though, by the 15^th year, the amount comes close to a 50/50 split. Hence, you can create more wealth for yourself by holding on to the property for longer while the more your tenants are paying the loan principal.

With each passing year that you own the property, you can utilize your tenant’s money to clear your debt. By reducing your loan amount, you’re building wealth; you can access the money if you refinance your loan or sell the property.

5) Tax Benefits

Rental property owners can avail tax deductions. You can write off travel costs, interest on your mortgage, property taxes, legal fees, maintenance repairs, insurance, and interest on credit cards that you’ve used for your property purchases.

Depreciation

In addition to the above write-offs, you can depreciate the purchase costs of your property as per a fixed depreciation schedule – all this while your property appreciates in value.

As compared to investing in stock markets where you’re required to pay income taxes, investing in rental property is more advantageous. Because you can offset the rental income against the depreciation expense of your property. That said, you can lower the amount of taxes you’ve to pay on rental income.

Intrigued?

Get more answers by getting in touch with our end-to-end property management company in Delhi NCR.

contact@theluxia.com |   +91 9810505543

Everybody works to have their dream home. And along the way, you would require professionals for interior designing your house. Now, for transforming the vision of your dream abode into reality, you can approach the interior designers in Delhi NCR; they come with varied years of experience in interior designing for homes. Also, they cater to your rental management requirements, if any.

Additionally, you can rely on the property management company in Delhi NCR for your property management for rent needs. Whether you’re looking for design experts for interior designing for home or interior designing for bedroom, the interior designers in Delhi NCR are only a call away.

With impressive interiors, you can enjoy the benefits of driving up the rental value of your house too.

Though several companies are engaged in interior designing in Delhi NCR, yet you need to consider various aspects when making your choices

#1. Know your style

As part of interior decorating your home, you want your individualistic attitude to reflect, right?

Here, you must know what your style is. Then, accordingly, you can guide the interior decorators to go about doing their job while lending your personalized touch.

Of course, designers have their signature style too. Even so, the best in the business must be able to adjust to your preferences.

#2. Check some portfolios

Assuming you know how your house is to be revamped and have shortlisted some designers that match up to your personal tastes, you may want to read more about their work and browse through their portfolios next.

Going through customer testimonials can also help you make up your mind whether they are suited to perform the given job or not. Additionally, check out their previous creations and assess whether they are in line with your vision.

Plus, a background check helps to know the years they’ve been in business and their level of expertise.

#3. Financial Considerations

Interior decorating your home can be an expensive affair. Thus, you must tread cautiously, especially if you’ve financially prudent. While some interior decorators work at fixed fees, you may have to pay on an hourly basis for others.

A good strategy is to discuss your requirements with a few designers; more so, request them for quotes. That said, depending on whether you can afford the designer or not, you must pave the way forward.

#4. Be open-minded

Interior designers are always buzzing with new ideas and they may discuss the ones that they find suitable for your home. However, in some cases, they may try and impose their suggestions upon you too, so be cautious.

Nevertheless, you must also make sure that you listen to their suggestions and think them through. Though you should keep an open mind, yet avoid making hasty decisions.

In all, you must make a balanced decision; ponder over all related aspects thoroughly beforehand – if you want your money’s worth that is.

#5. Always compare notes

When choosing an interior designer, ensure that you both can work in sync when brainstorming design ideas. Share your initial plans and allow them to give their inputs, opinions and discuss the challenges.

Always choose designers that are flexible and can sit your sensibilities in their creations while incorporating your ideas in the final blueprint.

#6. Go ahead and sign the contract

Upon deciding your designer, the subsequent step would be to call and let them know your decision. Make sure to read the contract carefully too. Sign the contract before work commences; also, do not pay anything earlier. The contract must include budgets, deadlines, responsibilities, among other important clauses.

#7. Start Planning

After selecting your interior designer, follow by making your plans. Decide the rooms you want to remodel and the materials needed. Of course, you must consult your designer on all aspects. More so, if you would like to keep some old artefacts, inform your designer about such decisions.

#8. Adjust your schedule

If you’re a working professional, then you’ ll need to divide time between your work and designing your home. As such, you may need to be at home for particular parts of the project, so update your co-workers and arrange for leave if required. Also, work with your designer and discuss your availability for pursuing the project during the given timelines.

Main focus: Clean lines to balance the young and enthusiastic vibe of an entrepreneurial couple with a comfortable and fun-to-be-at home.

The client subscribes to the belief that less is more when it comes to designing the interiors of a home. This is extended with the thought that simple home design leaches to ease of living.

This philosophy also reflects in many of our interior designing projects, and it’s what attracted a couple building a custom home in the South Delhi area of India. Our interior designer was brought in at the start of the process, and the team started working closely with their builder. So as to create a sophisticated yet comfortable house that capitalizes on its pastoral surroundings; the island kitchen and in line family room demonstrate the team’s success.

The Client

The house is located on a posh location in South Delhi surrounded with a beautiful park, so retaining the unrestricted view from the balconies was a must.

The client couple are a successful young entrepreneur, who bought this house in a contemporary block in the South Delhi area, with a desire for a home that expresses their life style: dynamic, informal and incorporating elements of their background not just in terms of their interests but also to match the comfort quotient.

LuXia was given the task of putting all these pieces together, choosing the finishes, the furniture layout, the lighting, free standing and bespoke furniture, and soft furnishings to create a home that is full of life and captures the client’s essence and character: a lively vibe in a relaxed environment where they can feel comfortable either on their own or when entertaining guests.

The Brief

In our first meeting to discuss the brief, the client gave us very precise information about what they wanted, not just in terms of visual reference but also about how they wanted to enjoy the space:

Feel: Homely and lively. They like soft colours and unconventional wallpaper.

Functionality: The social aspect is important as they plan to invite friends regularly for parties; storage space as they do not like clutter; Future planning is on scale, so a kid’s room area is very important; a very comfortable couch and a wall mounted unit for the TV. Modern look; table for terrace and lighting, wall mounted air conditioning; for their bedroom they want a big wardrobe; bathroom: additional storage space and change colour scheme; and an open-plan kitchen with ample lights.

Our Interior Designing

Almost all the elements of the house we were absolutely clear of when we started to develop its interior designing. The client was very particular about maintaining and reflecting their vibe in their newly build home. So, we worked and planned every corner of the house as per their expectation.

Our plan was simple; to give exactly what the client desires. For this, our interior designers started off with the kitchen and the sitting area. To define the kitchen and sitting area, we designed a white granite-topped, walnut display shelf. The kitchen boasts of traditional Shaker-style cabinetry and Carrara marble counters and backsplash.

The kitchen opens to a breakfast corner where a glass roundtable is artfully paired with bright red Windsor chairs to introduce a balanced splash of vibrant colour. We also designed a cabinet that beautifully displays the couple’s pottery collection along one wall.

Almost all of furniture is new to the house. Except for an existing Baker sofa which was reupholstered for the sitting area. We selected a complimentary metal coffee table and wood-framed chairs, to create simple, soft lines with a touch of modern.

The entire space of the house was colour coordinated to match the kitchen and living area and the wallpaper was selected based on the client’s preferences of colour and feel. The bedroom and the powder room were to contain calm vibes. So, we maintained the request by using light colours on the wall, and on the curtains. The powder room was designed with ample wardrobe cabinets and a floor-to-ceiling mirror.

As asked by the client, the terrace had modern seating arrangements with a rustic table and matching chairs. We also went ahead and decorated the terrace with valued plants for a fresher and drawn-out aesthetic look.

For the kids’ room, a neutral shade of white and yellow was used to keep the options open in the future. In the bathroom, the colour for the walls was a darker hue of than that of the floor tiles. Above the long side of the bath, a lighter tile was chosen, in the same design.  A wall mounted unit for storage was proposed, similar in colour to the vanity unit, and accessories were suggested.

The Highlights of our Interior Designing

• We make most efforts to keep the things simple, without too much clutter, this allows the details to show. We used the same colour metal for hardware, light fixtures, and drapery rods—and they are more perceptible because space is not cluttered.
• Our designers worked close to the client’s main concept.
• We look for different ways to add interest. Here, the interior doors are painted a different colour from the trim and walls. Also, the pottery collection steals the limelight.
• With tall ceilings, there are tricks to communicating more human balance to space. Hanging sconces and low pendants bring the eye down.
• We used one flooring material throughout the house to keep things flowing. It opened up space.
• Display shelves are a great way to introduce what is important to the client.

Each Project demands a personal approach, our aim is to capture the way the client wants to live their life and translate that in beautiful surroundings that inspire them and ultimately give them happiness.

Looking for interior designing of home? Contact us to get started.

contact@theluxia.com |   +91 9810505543

Dwindling stock markets amidst the recession is driving Real Estate to the center of investment portfolios. Yet, buying new property or owning many valuable properties might not be enough. Investors and property owners can take full advantage of the shift only with property managers that have foresight.

Often, the absentee owners misjudge the need for NRI property management. They make all the effort and overspend to manage their property but end up frustrated. Not only does their property lose value but, they also miss out on rental income without realizing it.

Professional property management can mean a sea change for your investment plans. Before we look at what is achievable by hiring a Property Management Company, let’s briefly understand what it is!

What is Property Management?

Imagine what would happen if your home lies in neglect while you are abroad. Its value would depreciate over time. Your property would be at the risk of being used or occupied illegally. It could be swallowed by property sharks. Finally, you would have to spend a lot of money for repairs and renovation when you take back charge.

In short, your property would become a liability of sorts. Property Management is meant to avoid all these and turn your home into a profitable investment! Moreover, it is intended to generate passive rental income besides ensuring gradual value appreciation.

By confiding your property in the safe hands of a property management company, you are ensured that it:

• Remains the top choice for tenants.
• Generates a steady income.
• Retains its value in the rental and resale market.
• Does not lag in style and comfort.
• Is in tune with the latest interior designing
• Undergoes maintenance regularly.

Over the years, property management companies have overtaken the role of traditional brokers in the rental market. In fact, they have added new dimensions to renting. There is little wonder that property management companies are judged by their rent management services.

Why is Rent Management so important?

Rent Management is tied intrinsically to the very logic of property management. It creates a win-win situation for both the property managers and the owners.

How?

Rent management is directed towards generating a regular flow of optimum rental income for the owners. A part of this income is invested in maintaining, repairing, renovating and interior designing so that the property remains in-demand. This also ensures that the property increases its value at a higher rate than it would have without being professionally managed. A fraction of the rental income forms the property manager’s fees.

Your rental income, the income of property manager, and the value-expansion of property are all dependent upon effective rent management.

What can owners expect from Rent Management Services?

Rent management is not just about money. It is more than that. It is obvious that income generation from property is the chief concern of an owner and property manager. However, the prerequisites for steady rental incomes are more than just setting the rent and finding a tenant.

The main challenge of rent management is minimizing the vacancy period and finding the RIGHT tenants. It is the right balance between occupancy and rent that matters. It ensures maximum annual rental income.

• Minimizing the Vacancy Period – How?

Property management companies undertake the following tasks to maximize the occupancy period.

1. They conduct elaborate neighbourhood surveys and rental market analyses to decide the best possible rent your property can fetch.
2. They mark possible tenant types in the area. Depending upon that, they suggest renovation and interior designing tasks that would make the property attractive to prospective tenants.
3. They advertise your home to the right people through multiple channels.

• Who are the RIGHT tenants?

High occupancy is not enough in ensuring a good rental income. A lot depends upon the kind of tenants your property draws. Right tenants are those who:

1. Have a clean police record.
2. Have a regular source of income and can pay rent in time.
3. Wish to use the property for positive and productive purposes.
4. Are not reckless. Else the repair and maintenance costs would go up!
5. Are not renting for a few months.
6. Are most likely not to vacate mid-season.

The property maintenance company’s experience in handling and selecting tenants counts!

Property managers lay special focus on tenant experience. They organize walk-throughs, handle everyday issues that arise during their stay, prepare agreements and help them in moving their stuff. This goes a long way in ensuring smoother rental payments.

Is it a good idea to avail rent management services exclusive of other property management services?

Property management services include home maintenance, interior designing and budgeting besides rent management. You can opt for these services depending upon a number of factors:

• How long are you going to stay away from their property?

If your stay outside the city where your property is located is about to conclude, you may only require rent management. It has to do with income, and no one wants to lose out on that! You might prefer to go for renovation, designing and repairs in your presence. Elaborate budgeting exercise would not be needed in such a scenario.

• How old is the property?

There is no question of changing the interior designs of a new home.

• How long do you wish to retain the property?

If you are planning to sell your home in the near future, interior designing has to be done accordingly. There is a difference between interior designing for renting, resale and personal use.

• When was your home’s last renovation and makeover?

There are two types of property maintenance tasks. Routine maintenance tasks include payment of bills, taxes and housing society charges. They may include minor repairs. You have little choice regarding these.

Occasional maintenance tasks include major repairs and renovation, and checking that the property is not overstepping any laws and regulations. These may not have to be carried out every season.

Similarly, interior design should be carried out with tenant needs and net rental income in sight. There are a few thumb rules for that like spaciousness, neutral wall paints, dark floors and strong fittings. You may require renting focused interior designing services when you convert your home into rental property for the first time. Subsequently, interior designing services would be required only once in a few years. To match with the new trends!

If property is your long-term investment…

Owners of multiple properties and those that seek to retain valuable properties as long-term investments need all property management services. Or let’s say that’s the best option for them! They get maximum benefits as property is maintained and designed season after season with the aim of rental income.

When all management tasks are geared towards single purpose, the results are better. They get income forecasts in advance which helps in financial planning. Moreover, they save precious time, energy and money, while the property value continues to rise in their absence.

Own a property in India which is sitting idle in the real-estate market? Our property managers can help you earn money out of it. Just like we helped our NRI client from Canada by rendering our interior designing and assured rental service.

Know more about it below.

About the Client

The NRI client lives in Canada and has a property in Noida – India. He purchased the property in 2010 for himself, but had to move to Canada in 2012 for work. Since then the property is lying vacant with local guardians keeping a casual eye every now and then.

Property: the client owns a 3BHK flat of 4500 Sq ft in one of the well ranked locations of Noida, which comes under the NCT area of Delhi, India.

Client’s Problems

The client’s property was looked after a local acquisition who could not dedicate his time to the client’s property sufficiently. For this reason the property’s value and quality was degrading with time. Also, the property asked for a facelift as per the modern times to make it look aesthetic and more functional.

The property bought by the client a decade ago was not giving any monetary benefit to him ever since. He even tried to rent out his flat through the local guardian but ended up making loss. As the tenants were kept without verifying, and they harmed the property big time. Also, the rent of the property was also quoted too low as per the market norms.

Being an NRI it was not feasible for the client to travel to India to manage his property frequently. Therefore, this time he was looking for professionals to take care of his property and give him some monetary benefits through the property.

Client’s Requirements

The client was looking for a NRI property management company preferably in Delhi NCR – India. He was looking for a professional to cater to his property related requirements.

He wanted a property management company to redo his property’s interiors and then put it out in the market for residential renting. The client also wanted to ensure that the tenants are rented after proper verification and for long term.

Along with this he also wanted to virtually monitor all the activities on the property and see the rent receipts and other important documents online.

How LuXia’s Noida team helped the client

Interior Designing and Assured Renting of the property without the need of the NRI owner to travel to India

The very first requirement of our client was met as he did not have to travel to India in this entire span of 2 years to manage his property. Everything was taken care of by our property managers in Noida.

Our property managers also shared an online portal with the client so that he can see the important information like rent receipt, bills, work progress etc. on the portal.

Here’s how we helped him with our services.

Interior Designing

As asked by our client LuXia’s in-house team of interior designers went to the property to study the designing requirements. We also conducted a video conference with the client to walk through the property with the owner. And to get an idea of his interior designing interests so that we can incorporate them in the property.

After sharing the idea with the owner our interior designing team started working on the property to mold it into an aesthetic and easy on functionality property. The interior designing work was finished well within the timeline. And was shown to the client again via video conferencing.

Assured renting with steady increase in rent for 2 years

After the interior designing of the property, LuXia started with the marketing of the property through various channels to find an appropriate tenant for the client’s property. After strict and careful screening of the applications, LuXia chose a suitable tenant for the residential property.

Our property manager for the NRI client ensured proper police verification before renting the house to the tenant. We also got the rent agreement and other necessary documentation in place to go as per the India federal guidelines. We also made sure that the client received appropriate rent as per the market norms. And also the rental income increased steadily over the two years.

LuXia’s value-added services that made our NRI client smile!

• Guaranteed Assurance – all our rental management services come with an assurance of maximum Return of Investment and peace of mind.
• Dedicated Property Manager – the client got personal attention by a single point of contact for all their property related concerns.
• Law & Regulations Compliant Rental Property – we made sure that landlords property is compliant with the property laws and landlord tenant laws in India.

Get in touch

You too can save a lot of your time and money and get high Return on Investment (ROI) on your property. All you need to do is get in touch with our NRI property management company in Delhi NCR and we’ll handle all your property requirements.

contact@theluxia.com | +91 9810505543