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

HT Estates - - HTESTATES - Om Ahuja

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.

THINKSTOCK

Home­buy­ers should re­view all the terms and con­di­tions men­tioned in agree­ment

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