WANT TO INVITE LADY LUCK TO YOUR OFFICE? Know more about property purchase
Doing up your office space with aquariums, fishbowls or artificial fountains can help you move up the career ladder Possession-linked plans versus construction-based payments
To succeed at work, it is important to have suppor t ive energies t hat nourish your g rowth and boost your productivity. Here are some basic feng shui tips to get you started:
Get a Bagua map of your office/workspace drawn to determine the power sectors there. The north Bagua area represents your career and is connected to the water element. Place aquariums, fishbowls with goldfish or artificial fountains in this s e c t or t o e nhance your career. If that’s not possible, then an image of flowing water ( rivers, lakes) will work just as well.
To e n h a n c e t h e n o r t h - west and west ( balcony or window) sector, t ry and hang a six- rod metal wind chime (preferably hollow). You can also keep rocks and fresh flowers here. This is t he area f or l eadership, patronage and support from your boss or mentor. Avoid water images and blue/black colours here, as water weakens metal. This is important, especially if you are in a position of authority. Light gold, metallic shades of yellow and beige work well. Hang crystals in your cabin or cubicle to absorb negative energy, reduce fights and maintain harmonious relationships with colleagues. Remember, amethyst brings peace and contentment, lapis lazuli brings success a n d b a l a n c e, etc). If you are looking to improve your re putation, a strategically placed feng shui crystal globe on your desk is best to attract recognition and fame in your work area. The west represents creativity and helps, so put stereos, LED screens and other electronics there. Promotions and success in career belong to the south area of the house. Fire is the key element which is best expressed by bright and fiery shades of red, purple and orange.
I f you are running your own business and need to give a boost to your sales/ commissions, energise the ‘money’ corner - the southeast area of your house. If you are in the healthcare/ healing business, east is your power corner too. The element is wood, and wood energy is best expressed by wooden furniture and plants. Be sure to use only natural, healthy plants as live plants purify the air and help you ‘grow’.
Keep your desk in the feng shui commanding position ( directly opposite t he main door) t o stay in control and not miss any opportunities as they come.
Next, put all achievements (diplomas, letters of recognition, awards, trophies etc) and other things that represent ‘ your past’ behind. Likewise, pictures that symbolise and support your future visions (travel destinations, role models) should be put in front of you, where you can see them.
As a rule, all elect r o n i c a n d c abl e wires should be detangled and well hidden f rom view as t hey represent discord and messy dealings. Empty the thrash cans.
The author is a feng shui consultant, director of Spirit n Soulkraft, tarot card reader, numerologist, palmist and a holistic healer. Email mikkachawla@ gmail.com
The current market scenario clearly reflects the market mood. Developers are extending many offers to attract demand, clearly indicating that buyers are in wait and watch mode. Various press articles have been suggesting price correction for over last three quarters, but we have not seen any serious correction in prices (with a few exceptions in some markets). Developers are offering bundled offers instead of negotiating prices. One such offer is the possession-linked payment plan, in which the buyer pays ¬20% to 25% of the apartment cost in advance and the rest on possession.
The benefits of possession-linked plans
The critical point here i s delivery risk and exposure of credit to developer. Buyers see immense benefits in paying just 20% to 25% to the developer while booking and paying the balance amount on possession. This eradicates the risk of the developer not completing the project on time, and of the developer going bankrupt and not having to pay for a product that is not yet ready.
We are seeing buyers favouring this option against the con- struction-linked plans. In the developed world, builders have to complete the product before they can sell to their buyer. Selling before completion is called ‘off-plan’ and this can be approved by the local regulator, but only on the basis of a special request and the overall credibility of the developer. Such checks are missing in India. With possession-linked plans, the benefit to buyers must always be seen in the light of multiple risks.
Check before opting for such plans
Three critical safeguards that buyers must put in place before investing into such offers are:
Ensuring that the developer does not have two different pricing structures (ie one for construction-linked and another for possession-linked plans). If there are two such different pricing offers, then the developer has already built in the cost of funding that is applicable for a possession-linked plan. This effectively means that the buyer is indirectly funding the developer, and that is not an attractive scenario.
Establishing that the developer has all necessary approvals in place.A scenario in which buyers fund the developers without approvals is like any another non-approved deposit collection scheme that can catch the eye of financial regulators like SEBI and RBI. Buyers need to use caution while investing in any project where approvals are yet to come and there is a assuredreturn type of structure. These are very risky structures and have high chances of default and delay in terms of payments.
Reading the fine print. A layperson generally does not read those critical few lines at the end of the document before investing, but there is a huge risk of losing money by such oversight. For instance, the connotations of terms such as ‘Act of God’ as well as other obscure verbiage in the terms and conditions present a risk to buyers that do not understand them. Any condition that de-risks or absolves the developer can be perceived as a risk of losing 20% to 25% of the initial investment. It is, therefore, prudent for the buyer to review all points mentioned in such an agreement.
What happens if the buyer defaults on payments?
The developer will cancel the sale agreement and basis the agreement has the full right to forfeit the initial payment of the buyer. Reputed developers only forfeit part of the initial amount, not the full amount. This is normally captured in the options agreement that the buyer will sign with the developer.
In a possession-linked plan, the risk involved is limited to the initial capital of 20-25% that a buyer pays to book the apartment. Buyers clearly stand to gain from a possession-linked plan as it reduces their risk and ensures that they do not have to bear the cost of funding the developer with multiple open risks.
Homebuyers should review all the terms and conditions mentioned in agreement