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The Emergence of Dahisar East in the Real Estate Market

Blox Social Mar 28, 2023

Dahisar has a long history of being a popular residential area in Mumbai. It was the 1960s when this locality witnessed its first apartment-style residential hubs, such as Gol Building, Sanjeevani, Patel Colony and others. Dahisar has constantly been evolving, introducing new residential hubs over time. 

One of the most famous sub-localities of Dahisar is Anand Nagar, which was introduced somewhere between the 1980s and 1990s, among many other areas. Following that, the development has never been halted for the place. 

Today, Dahisar East is one of Mumbai's most renowned residential hubs. There are various types of apartments and flats in this locality to meet the budget and comfort needs of all home buyers. 

Let’s walk through the emergence of Dahisar East in the real estate market.

If you plan to buy a property in this locality, this blog will help you make a better decision. 

Good Connectivity Attracted Home Buyers and Property Builders

Dahisar East is well connected to the major parts of Mumbai through the Western Express Highway and the railway line. The Western Express Highway starts right from Dahisar and connects various parts of Mumbai, such as Mira Road, Miragaon, Kandivali and others. 
The newly opened metro Line 2 and Line 7 of Mumbai have also improved the overall connectivity of Dahisar East. Line 7 connects Dahisar East to Andheri East. Line 2A connects Dahisar to DN Nagar, Andheri West. The further extension of Line 2 B connects DN Nagar in Andheri West to Mankhurd.
These recent developments are meant to enable the residents of Dahisar East to attain a seamless commute between all the eastern and western suburbs of Mumbai. Thus, such connectivity has and always will help Dahisar East grow in terms of real estate demands. 

Resourceful Retail & Social Infrastructure of Dahisar East
The social and retail infrastructure of Dahisar East is relatively well-developed. People living in this locality or planning to move should have access to all essential facilities within close proximity. Facilities such as hospitals, schools, colleges, recreational centres, entertainment centres and others are of utmost importance to let people live a comfortable life. 
Keeping that in mind, the emergence of real estate in Dahisar East has also boosted social and retail infrastructure development. Some of the noteworthy social and retail infrastructure landmarks of Dahisar East that support its real estate demands are:

  • St. Thomas High School
  • St. Mary’s School
  • Singapore International School
  • Tree House Play Group
  • Mahambare Hospital
  • Shradha Hospital
  • Namita Hospital
  • Life Care Hospital
  • HCG Cancer Centre
  • Pragati Multi-Specialty Hospital
  • Sanjay Gandhi National Park
  • Mandapeshwar Caves
  • Rotary Garden
  • Altitude Quest
  • Dahisar Sports Club
  • Civic Federation Gymkhana
  • Thakur Mall
  • Central Mall

Apart from these infrastructure amenities, popular property developers, such as Crescent, DB Group and Lodha, have also introduced various world-class amenities within their residential complexes. Hence, there’s everything that a resident would need to happily and comfortably live in Dahisar East. 

A Great Rental Income Can Contribute to Your Good Retirement Earnings
Most people buy multiple apartments in Mumbai to get monthly rental incomes. As the rental rates in Mumbai are mostly high, it is a great retirement planning source or a passive income source while you are still working. 

The rental yield in Dahisar East is around 5%. The average rent per month for flats in Dahisar East is around Rs. 19,000. The rental price will be different based on the sub-locality where the property stands. 

Suppose you own a 2 BHK flat in Dahisar East Anand Nagar. In that case, you can expect an average sub-locality-wise rental income of around Rs. 27,000. Anand Nagar is one of the most preferred sub-localities of Dahisar East. 

Such a high rental income over the course of time has motivated home buyers and real estate builders to emphasise Dahisar East. Seeing the affordable rental pricing with seamless connectivity of this locality, more and more tenants are interested in living here. 

Moreover, the average price per sq. ft. for the flats in Dahisar East is around Rs. 15,000. It is around 4 to 5% higher than the average of 2022. Hence, a moderate property price appreciation is also a winning advantage for you. 

Therefore, buying a 1 or 2 BHK flat in Dahisar East Anand Nagar, Ketkipada, NI Complex, Ghartan Pada, or other areas will eventually reap many benefits. You will not just be earning great ROI on your primary investment on the property but will get a constant source of income through good rental yields. 

Why Choose Dahisar East for Investment over Other Localities?
Dahisar East has been a great residential hub since the 1960s and has always been in a consistent development stage. There are definitely more posh localities out there with good investment returns and rental yields. But, if you don’t want to live in crowded and busy places, Dahisar East is an ideal option. 

There are a lot of bus stations around the city, allowing the residents to commute within the locality easily. Dahisar East is the place that allows you to spend a moderate amount to live in a good and reputed locality. The returns and rental yields are significant with respect to the investment you make in buying a property in this locality. 

If you want a 1 or 2 BHK flat in Dahisar East Anand Nagar, Vaishali Nagar, Ghartan Pada or other such sub-localities, try out Blox today!

Blox is a property search engine that helps you with the feasibility of exploring only the properties that seem best fit for your needs. You can filter your search by budget, location, type and developer! Hence, shortlisting your favourite properties won’t be a difficult task anymore. 

So, this is what explains the emergence of real estate in Dahisar East. It has been more than 60 years since Dahisar East has been considered a prime residential locality. With time and demands, the developments have reciprocated to the overall needs of people. Thus, it is still and will always be a popular residential hub for the people of Mumbai. 

What Makes Parel a Top Real Estate Destination Among Home Buyers

What Makes Parel a Top Real Estate Destination Among Home Buyers

Blox Social Mar 28, 2023

Parel has emerged as a top real estate destination among homebuyers in recent years, with its strategic location in South Mumbai and excellent infrastructure. Once known for its textile and cotton mills, Parel has undergone a remarkable transformation in the past decade, developing new residential complexes and commercial spaces. Property in Parel is quite sought-after by professionals and entrepreneurs alike, with excellent connectivity to other parts of Mumbai.

Here are a few reasons why Parel is a top real estate destination among home buyers:

New Residential Construction 
Parel has seen a surge in residential construction in recent years, with builders focusing on providing affordable and luxurious housing options. From 1 BHK flats in South Mumbai to spacious penthouses, Parel offers something for every budget. Builders have also taken into account the need for good amenities and social infrastructure, with many complexes offering swimming pools, gyms, and parks.
One of Parel's most popular residential projects is Lodha Venezia, developed by the Lodha Group. This project offers 2, 3, and 4 BHK flats with modern amenities and stunning views of the Arabian Sea. Another notable project is Ruparel Nova, developed by the Ruparel Group, which offers spacious and affordable flats.

Proximity to Lower Parel
Lower Parel is a well-known commercial and recreational hub in Mumbai, with numerous offices, restaurants, and shopping malls. Parel's close proximity to Lower Parel has further enhanced its appeal among home buyers, with many preferring to live close to their workplace. The area is also well connected to other parts of Mumbai, making it convenient for those who need to travel frequently.

Excellent Infrastructure
Parel boasts excellent social infrastructure, with numerous schools, hospitals, and entertainment options within easy reach. The area is home to prestigious institutions such as the Tata Memorial Centre, Wadia Hospital and Global Hospital, making it a healthcare hub. Several schools and colleges, including the Maharshi Dayanand College of Arts, also cater to the educational needs of families in the area. Entertainment options are abundant, with the iconic Palladium and Phoenix malls nearby.

Amazing Connectivity 
Parel is well connected to other parts of Mumbai via various essential routes, including the Eastern Freeway and the Gokhale Road. The area is also easily accessible from Nariman Point, Mahalakshmi, and Worli. Additionally, Parel is only a 20-minute drive from the international airport and the business hub of Bandra Kurla Complex.

Existing Renowned Realty Projects
There are many renowned residential projects in Parel that offer world-class amenities and luxury living. Some of the most popular projects include L&T Realty and Omkar Realtors' L&T Crescent Bay, Dosti Group's Dosti Belleza, and Ruparel Realty's Ruparel Ariana.

Upcoming Infrastructure Projects
Apart from the existing infrastructure in Parel, there are also several upcoming projects that will further enhance the appeal of the area for home buyers. One of the most anticipated projects is the Mumbai Trans Harbour Link (MTHL), which will connect Parel to Navi Mumbai and significantly reduce travel time for commuters. The Coastal Road Project, which will link Marine Drive to the Worli end of the Bandra-Worli Sea Link, will also benefit residents of Parel by improving connectivity to other parts of Mumbai

Growing Commercial Hub
Apart from being a sought-after residential destination, Parel has also emerged as a commercial hub, especially for IT/ITeS businesses. It has seen significant growth in the last decade, with numerous start-ups and established businesses setting up shops in the area. This has created a demand for commercial spaces, further driving the development of the region. With the commercial and residential infrastructure expanding, Parel is poised to elevate to one of the most sought-after destinations for homebuyers and investors.

Final Thoughts 
If you are considering investing in a property in Parel, choosing a reputable builder with a proven track record of delivering quality projects is essential. At Blox. xyz, we offer an end-to-end home-buying platform that makes it easy for you to find your dream property in Parel. Our team of real estate experts will guide you through every step of the home-buying process, from shortlisting the right property to securing financing and completing the paperwork.
In conclusion, Parel's emergence as a top real estate destination among homebuyers can be attributed to several factors. Parel's transformation from an industrial hub to a residential and commercial hotspot has made it one of the most sought-after addresses in Mumbai. The area's excellent connectivity, infrastructure, and proximity to Lower Parel have further enhanced its appeal among home buyers. Parel's growing commercial and residential infrastructure, coupled with good investment potential, makes it an attractive destination for real estate investors. With several upcoming infrastructure projects set to further improve the quality of life for residents, Parel's position as one of Mumbai's top real estate destinations seems secure.

8 Tips that Can Help You Design an Open Plan Home

8 Tips that Can Help You Design an Open Plan Home

Blox Social Mar 28, 2023

Welcome to the world of open plan living, where walls are knocked down, spaces are combined, and the possibilities are endless! Designing an open plan home is an exciting adventure full of creative ideas. With an open floor plan, you can let your imagination run wild and create a space that reflects your personality and lifestyle. 

Open plan homes are a popular choice among modern homeowners. These home designs offer a spacious and flexible living area, where the kitchen, dining, and living spaces are integrated into one open space. However, open home interior designing can be challenging, as you must balance functionality with aesthetics. And with so many options available, where do you even begin?

Here are 8 home design tips to help meet your needs and looks, resulting in a functional and fabulous home plan!

1. Define Zones
One of the essential things to keep in mind when designing an open plan home is defining zones. With no walls to separate the different spaces, it can be challenging to differentiate between areas. To define each zone, use different flooring materials, rugs, furniture, or lighting. You can also use visual cues like colour or texture to create a boundary between spaces. Defining zones will help you create a cohesive design and provide a clear purpose for each area.

2. Think About Flow
When designing an open plan home, it's essential to consider how people will move through the space. You don't want the kitchen island or dining table to block your living room. Think about the natural flow of movement and create an easy and intuitive path through the space. This can be achieved by arranging the furniture to promote movement or using furniture as a divider to guide traffic.

3. Use Lighting to Create an Atmosphere
Lighting is a crucial element of any interior design, but it's imperative in an open plan home. Without walls to block light, it's essential to have multiple lighting sources to create a warm and inviting atmosphere. Use a combination of floor, table, pendant, and recessed lighting to create different moods in different areas of the space.
For example, you might use pendant lights over the dining table to create a focal point or floor lamps in the living area to create a cosy atmosphere. You should use lighting to accentuate artwork or architectural features, such as a statement pendant light over a kitchen island.

4. Create Balance
When designing an open plan home, it's essential to create a sense of balance. You don't want one area to feel overpowering or cluttered compared to others. Achieving balance can be as simple as using the same colour scheme throughout the space or similar textures in different areas. You can also use furniture and decor to create balance by choosing pieces that complement each other.

5. Storage
Storage is essential in any home but particularly important in an open plan space. It can be challenging to keep the space tidy without walls to hide clutter. Consider using built-in storage solutions like shelves, cabinets, and drawers to keep everything organised. You can also use furniture pieces that offer storage, such as ottomans or benches. 

6. Consider Furniture Scale
Choosing the right furniture is crucial in an open plan space. You want pieces that are appropriately sized for the space, neither too big nor too small. Large pieces can overwhelm the space, while small pieces can get lost in the open area. Consider the scale of the furniture in relation to the size of the room and the other pieces in the space.
For example, choose a sectional sofa that is appropriately sized for the living area and won't overwhelm the space. Similarly, choose a dining table that can comfortably seat your family and guests without occupying too much room.

7. Use Texture to Add Interest
The texture is an important element of any interior design but is particularly important in an open plan space. Without walls to add visual interest, texture can create a sense of depth and dimension. Consider using different textures in different areas of the space, such as a plush rug in the living area and a sleek countertop in the kitchen.
You can also use texture to add warmth and cosiness to the space. Consider using soft fabrics, such as velvet or chenille, for throw pillows or blankets in the living area.

8. Flexibility
Finally, when designing an open plan home, thinking about flexibility is important. Your needs may change over time, and your space should be able to adapt to those changes. Consider using furniture pieces that can be easily moved or rearranged. You can also use room dividers or screens to create more privacy. The beauty of an open plan home is that it allows you to customise the space to suit your needs and preferences. Do not hesitate to rearrange furniture or swap out decor to create a new look and feel for the space.

Consider using modular, easily moving furniture, such as a sectional sofa with interchangeable pieces. You can also use decor elements, such as throw pillows or artwork, to switch up the look of the space without investing in new furniture.

Designing an open plan home can be a liberating and exciting experience, but no doubt, daunting. Whether you're remodelling your current space or building from scratch, a few essential tips and tricks can help you create the perfect open plan layout. From choosing the right furniture to creating defined zones, we've got you covered. 

The above suggestions will help build a functional, beautiful, and flexible space. So, grab a cup of coffee, put on your creative hat, and get started!

3 Factors Contributing to Virar East's Growing Real Estate

3 Factors Contributing to Virar East's Growing Real Estate

Blox Social Mar 27, 2023

Virar is now known to be an evolving realty hotspot from a sought-after market for second homes. Over the past few years, Virar has stood out in the MMR region as a location with substantial growth and continuous demand for housing. While most of the population here is Marathi-speaking, Virar East has acquired a cosmopolitan character due to a slow and steady influx of people from the mainland. As a result, the cost of real estate in Virar East has also increased. 

Besides the cost, the demand for property in Virar East also increased. As real estate prices soar in Mumbai and its surrounding areas, Virar has emerged as a preferred destination for affordable and middle-income households. But what are the reasons contributing to the rise of real estate in Virar East? Let us find out: 

Upcoming Infrastructural Developments
Various infrastructural developments in the pipeline contribute to Virar's investment potential. For instance, the Virar-Alibaug multimodal corridor project that aims to improve connectivity between Virar and Alibaug will make the locality one of the most sought-after places for investors and homebuyers. This development will provide faster access to Alibaug from Virar. 

Also, the Vasai-Virar City Municipal Corporation's (VVMC) plan for a coastal road will make the region much more appealing. The proposed project aims to build a coastal road that will run along the coastline of Virar and Vasai, improving connectivity and providing a scenic drive. 

Several other infrastructure projects will benefit Virar exponentially. These developments include the Mumbai-Ahmedabad high-speed rail corridor and the Mumbai Metro Line 9. 
Also, the Mumbai-Nagpur Expressway will soon be operational. All these projects will improve connectivity between Virar and other parts of Mumbai and the country, making it an even more attractive destination for homebuyers! 

Capital Appreciation and Active Rental Market 
While Virar East is a relatively affordable locality, the price appreciation rates for property in Virar East (5.8%) here are relatively rhigh. And both of these factors, in combination, work amazingly for home buyers as well as investors. 

The estimated average property price in Virar East is Rs. 5,645 per square foot. Most of the residential projects in the area are apartments, and the average price for a 1BHK apartment is around Rs. 25-35 lakhs, while the average price for a 2BHK apartment is around Rs. 45-60 lakhs. You can even get a decent space with all the essential amenities to help you lead a comfortable lifestyle for as little as Rs 20 lakhs in this area. So, for anyone looking for an affordable area for their new abode, Virar is the place to be!

The rental market in Virar East is also active, with an average rental rate for a 1BHK apartment starting from Rs. 7,500 per month, while a 2BHK apartment can cost around Rs. 12,000 per month. So, for people seeking some passive income, investing in an apartment in Virar East is your best bet!

Excellent and Seamless Connectivity 
Virar East is a strategically located area that offers its residents hassle-free and smooth connectivity to all the major parts of the city. The locality has a railway station on the Western Line of the Mumbai Suburban Railway network, a crucial station on this line. It connects Virar to Mumbai and other significant parts of the MMR in the best way possible. With trains running at regular intervals throughout the day, no wonder it is one of the busiest railway lines in Mumbai.

On the other hand, the bus network in Virar East further enhances the area's connectivity. With the help of the Maharashtra State Road Transport Corporation (MSRTC) and other private bus operators, commuting via bus is relatively hassle-free. To explore nearby areas, one can always hop on a taxi or auto that is readily available here. This makes it easy to get around within the locality and know the area better. 

Moreover, the region is expected to improve its connectivity infrastructure with the proposed projects significantly. The extension of the Bandra-Versova Sea Link, which is supposed to be operational from December 2026, will ease travel between Nariman Point and Virar. And constructing a six-lane Vasai-Bhayander bridge will also enhance connectivity to and from Virar. All the upgrades are bound to attract more homebuyers to the region.

Virar East is a booming locality when it comes to real estate. With all the basic amenities, luxurious facilities, top-notch social infrastructure, and the promise of a comfortable lifestyle, Virar East is a place where you can consider buying your dream home. And with all the upcoming projects in place, the area's real estate market will witness a spike in demand in the coming years. We hope that this information will help you get a better idea of the locality and will assist you in making a prudent decision. 

12 Things You Shouldn't Do in Your Home According to Vastu

12 Things You Shouldn't Do in Your Home According to Vastu

Blox Social Mar 27, 2023

Your home is more than mere real estate – it is where you live, your sanctuary, your place of peace and happiness. You spend considerable time in this home, which should reflect the positive and harmonious energy you want in your life. Vastu Shastra, an ancient Indian science of architecture and design, offers valuable insights and guidelines for creating a living space that exudes positivity and maintains balance.

According to Vastu, every aspect of your home, from its location and orientation to the placement of furniture and decor, can affect your mental, emotional, and physical well-being. 

Here are a few things you should avoid doing in your home, according to Vastu, with more detailed explanations:

1. Keeping a mirror in front of your bed
Placing a mirror right in front of your bed can lead to disturbed sleep and even nightmares. The reflection of the bed in the mirror is believed to attract negative energy and create a sense of restlessness. The mirror is also thought to multiply the negative energy in the room, which can lead to further disruptions in your life. If you need to place a mirror in your bedroom, ensure it doesn't reflect your bed and faces east or north.

2. Keeping broken or unused items
Keeping broken or unused items in your home can create negative energy and block positive energy flow. These items can also attract dust and clutter, creating a sense of chaos and confusion in your home. If you have broken items, it is best to fix or dispose of them. Also, decluttering your space and removing unused items will create a sense of cleanliness and organisation that can promote positive energy.

3. Placing a shoe rack near the entrance
Placing a shoe rack near the entrance of your home can bring negative energy and obstacles into your life. According to Vastu, shoes are considered unclean, and keeping them near the entrance can create a sense of negativity and block the flow of positive energy. Instead, it is best to keep shoes in a separate area away from the entrance, such as a closet or a designated space.

4. Sleeping with your head towards the north
Sleeping with your head towards the north is believed to bring bad luck and health problems. According to Vastu, the earth's magnetic field runs from north to south, and sleeping with your head towards the north can disrupt this magnetic field, leading to disturbed sleep and health issues. It is recommended to sleep with your head towards the east or south for a peaceful and restful sleep.
5. Keeping thorny plants inside the house
Thorny plants, such as cactus, should not be kept inside the house, as they are believed to bring negative energy and disrupt positive energy flow. According to Vastu, thorny plants can create a sense of unease and anxiety in your home. Instead, it is best to keep indoor plants that have rounded or soft leaves, such as money plants, peace lilies, or rubber plants, which are believed to promote positive energy.

6. Placing a water fountain in the bedroom
It is advised not to place a water fountain in the bedroom as it can create negative energy and disturb positive energy flow. The sound of flowing water is believed to create restlessness and disturb sleep, leading to health problems and other issues. Instead, place the water fountain in the living room or balcony, which is believed to attract prosperity and good luck.

7. Keeping a fish tank in the bedroom
A fish tank should preferably not be kept in the bedroom as it is believed to create negative energy and disturb positive energy flow. According to Vastu, fish tanks should be placed in the living room or other common areas of the house, as they are believed to bring prosperity and good luck. If you still wish to keep a fish tank in your bedroom, ensure that the fish tank is placed in the southeast corner of the room and is well-maintained.

8. Placing the kitchen in the northeast direction
According to Vastu, the northeast direction is considered the most inauspicious, and placing the kitchen in this direction can lead to negative energy and health problems. The kitchen should ideally be located in the southeast direction of the house, as this direction is believed to promote prosperity and good health. It is also best to avoid placing the kitchen under a staircase or directly facing the main entrance.

9. Painting the walls in dark colours
Painting the walls in dark colours can create a sense of negativity and dullness in your home. According to Vastu, light and bright colours promote positivity and harmony in your living space. Choosing light and soothing colours for your walls, such as white, beige, light blue, or light green, is best to create a sense of calmness and positivity in your home.

10. Placing the bed under a beam
Placing the bed under a beam is believed to create negative energy and health problems, as it is thought to cause stress and anxiety. If you have a beam running through your bedroom, it is best to avoid placing your bed under it. Instead, you can place a false ceiling or hang a curtain to cover the beam.

11. Placing a toilet near the kitchen or dining area
Placing a toilet near the kitchen or dining area can bring negative energy and disrupt positive energy flow. According to Vastu, the toilet is considered unclean, and placing it near areas where food is prepared or consumed can create a sense of discomfort and unease.

12. Hanging family photos in the bedroom
Hanging family photos in the bedroom can create negative energy and disturb positive energy flow. According to Vastu, the bedroom should be a place of relaxation, and hanging photos can create a sense of distraction and restlessness.

Creating a Vastu-compliant home is about following rules and regulations and creating a positive and healthy environment that promotes well-being and contentment. By avoiding the abovementioned things and following Vastu principles, you can create a living space that promotes positive energy and harmony between nature, humans, and the built environment.

Remember, your home is a reflection of your mental and emotional state. By keeping your living space clean, clutter-free, and Vastu-compliant, you can promote positivity, peace, and happiness. So, take some time to analyse your living space and see how you can make it more Vastu-compliant, and enjoy the benefits of a harmonious and balanced living space.

5 Frauds You Should Be Wary of When Applying for a Home Loan

5 Frauds You Should Be Wary of When Applying for a Home Loan

Blox Social Mar 27, 2023

Buying a home is the culmination of our dreams and aspirations. Owning a residential property is a symbol of achieving goals that we have set for ourselves. More importantly, a house is a haven where we make beautiful memories with friends and loved ones, a place we can transform into a home. Despite the central significance that buying a property has in our lives, it remains undeniable that real estate investment is one of our most significant financial decisions. Given the rising property values, most of us need funding in the form of home loans to be able to finance a real estate purchase. Over the past few years, financial fraud and home loan scams have been on the rise. Falling into the trap of these scams can rob us of our wealth and the dream of owning a residential property. Let us take a look at some of the common home loan frauds –

1. Loan app scams - Most of us use smartphones, and a cursory search of Google Play Store or Apple App Store will reveal the existence of hundreds of loan apps, many of them offering instant loans. Most of these are unauthorised and beyond the ambit of the RBI's regulations. They offer loans at extraordinarily high rates, making it impossible to escape the debt trap. Many of them gain access to files, photos and documents on your smartphone when you install them. Your personal data is then used by ruthless recovery agents. You must ensure that your loan app belongs to a trusted bank or NBFC before you install it.

2. Too good to be true - Scrolling through social media sites, blogs or gaming apps, we often see home loan advertisements that promise financing at zero interest or with zero documentation. If a loan offer is too good to be true, it probably is not genuine. Once an unsuspecting applicant clicks on these, they are directed to a site and are prompted to enter personal details, including KYC data. These are typically data farms that collect personal information and pass them on to miscreants. Remember not to share your personal information unless you trust the prospective lender.

3. Prepayment scam - most reputed banks, housing finance corporations and NBFCs charge a small percentage of the loan as a processing fee. This covers their expenditure towards documentation, verification and administrative work. When you encounter an untrustworthy application or website promising a home loan, you may be asked to enter your bank or credit card details to pay the processing fee in advance. This should raise red flags. Genuine lenders and reputed banks deduct the processing fee from the approved loan amount, and you are not required to make any payment for loan approval. Do not make any prepayments without a home loan approval.

4. Fake loan websites - when looking for the website of a popular bank or NBFC, most of us search through Google or other popular search engines or click on links published on social media sites. This could land us on a fake website or a look-alike site designed to garner financial details such as net banking, log-in credentials and password authorisations. These details are further used to remove funds from our bank accounts without our knowledge or approval. Look for the URL's HTTP protocol or prefix before entering any sensitive financial data on a website.

5. Debt settlement scams – If you have an ongoing loan with a bank or a housing finance corporation, you may be approached by an unauthorised third party who promises to settle your loan at a discounted value. It is important to remember that home loans cannot be transferred to a third party. Banks may sometimes agree to foreclosure for an additional fee, but this involves communicating directly with your lender and obtaining a No Due Certificate once you clear your debt.

How to stay protected from loan scams 
Approach only RBI-authorised banks and trusted NBFCs for your home loan requirements. Monetary guidelines and binding financial laws regulate them. Your loan application will include your salary or earnings statement, KYC details, income tax returns, CIBIL score and documents related to the property you intend to buy. A genuine lender will never agree to offer zero documentation loans. Never share your personal or financial information on social media sites or messenger applications. Safely communicating your data is your responsibility. Look out for websites that look fake or are riddled with typos, small changes in the logo or lack the protective features of banks and trusted financial institutions.

While our dependence on the internet, mobile devices and applications for financial transactions and information are high, we must stay aware of the different phishing and fraudulent activities that could leave us vulnerable. It is only with awareness and taking precautions that we can stay safe.

5 Things You Can Do to Tackle EMIs for Home Loans in Case of Job Loss

5 Things You Can Do to Tackle EMIs for Home Loans in Case of Job Loss

Blox Social Mar 27, 2023

Following the COVID-19 pandemic, there has been much flux in the global economy. The Indian markets are not untouched by this phenomenon. Several corporations have announced hiring freezes, salary freezes, and even layoffs.

The loss of employment can be a difficult scenario, particularly if you are faced with a large monthly EMI burden. Here are five ways to tackle your home loan EMIs in case of a job loss.

Tackling EMI payments


  • Negotiate deferral with the lender - Non-payment of EMIs over a long period of time may prompt the bank, NBFC, or lender to initiate foreclosure proceedings. Just as this may cause a huge financial loss to you, it is also not a favourable scenario for the lender. If you have lost your job and the EMI payments seem to be a huge burden, approaching the lender and negotiating a deferral is a good idea. Most banks are agreeable to this idea depending on the loan amount repaid to date, your repayment history, and your net worth.
  • Debt restructuring - Another negotiation your bank or housing finance companies may be open to is debt restructuring. This simply means changing the terms of the loan, such as tenor or interest rate. The lender may agree to extend the loan term, thus reducing the monthly EMI payment amount. If you have had a long and good relationship with the bank and have other assets and investments, the bank may also temporarily agree to reduce the interest rate.
  • Sale of assets – Along with buying a residential property or home, most of us invest in assets like mutual funds, equity, and bonds. Most of these are liquid assets that can be partially sold to repay a considerable part of the loan. This will bring down the monthly repayment amount. This option should only be considered if the property value is high and the asset appreciation is lower than the property price. It may be a good idea to consult a financial advisor for this option.
  • Dipping into savings – Job loss puts financial pressure on several fronts. This is a good time to dip into your severance package, Fixed Deposits, Provident Fund or any savings you may have built up to repay the bank loan partially or wholly. Doing this will considerably bring down the monthly EMI burden, alleviating your financial stress. It is also important to understand the terms of your loan and negotiate this prepayment with the bank.
  • Loan refinancing – Loan refinancing often refers to the process of taking out a new loan to help repay the old one. In the case of home loans, this may be difficult since home loans have the lowest interest rates. If you are confident of your employment prospects and need a temporary loan to tide over a few months, taking a personal loan or gold loan may be a good option, though. Alternatively, you may consider transferring your home loan to a different bank or lender with a lower rate of interest.

Insurance on loan 

If you are employed and are looking to buy a residential property in Mumbai or any other major city and are worried about the long-term implications of taking a home loan, it is a good idea to consider taking an insurance policy on your home loan. Opting for home loan insurance can increase the monthly expenditure in the form of insurance premiums, but it also brings a lot of relief in case of death, disability, or loss of income, affecting the EMI payments on your home loan. Moreover, unlike term insurance, home loan insurance only covers the home loan debt and lasts as long as your home loan tenure. Therefore, the premium on this type of insurance, too, is less than term insurance.

Things to avoid 
In case of a job loss and financial stress, EMI repayments may become difficult. This is not the time to avoid calls from the lender or cut-off communication. It is best to voluntarily approach the bank or lending institution to work out a mutually agreeable solution. This is also not a good time to remain inflexible in your financial plans. Some restructuring, reallocation, and flexibility can help tide over a rough patch.

Need for financial planning
Buying a home is a joyous and emotional decision, but it also has a huge and far-reaching financial impact. Most of us opt for home loans because it is a prudent option and comes with several tax benefits. Before opting for a home loan, though, it is important to undertake some research and plan your finances. While repaying the EMI on time is crucial to fulfilling your debt burden and keeping your credit score buoyant, it is also important to save and invest prudently to help you handle any adverse scenarios like the loss of a job.

Luxury Real Estate: Current Trends and Future Outlook

Luxury Real Estate: Current Trends and Future Outlook

Blox Social Mar 27, 2023

2022 has been all about a return to normal following the devastating setback of the COVID-19 pandemic. Nations across the globe are witnessing an economic resurgence and a surge in demand for goods and services. The real estate sector, too, is experiencing a return to pre-pandemic levels of home buying behaviour, but in this context, Indians are charting a different course.

Many countries like the US, UK, and Canada are undergoing a real estate lull. People across the world are downsizing their living arrangements and going in for smaller houses. However, the luxury real estate segment in India is experiencing a boom. In 2022, the sale of luxury residential apartments doubled in the top 7 metro cities of the country as compared to 2019. This was the last year before the pandemic forced the sector to go on a back foot. 2023 promises a continuation of this trend. In fact, the luxury residential segment is predicted to be the key growth driver for the sector this year.

A look at the demand

Before we examine the real estate market and the luxury housing segment's future outlook, let us examine the current trends. Who are the prospective homebuyers opting for upscale homes, and what drives them? The economic instability that had set in during the pandemic seems to have caused a deep impact. The equity markets are highly volatile, bullion at an all-time high, and debt markets staggering under the weight of policy changes. Real estate seems to be the only recession-proof investment at this time. Millennials and Gen Z, young professionals, and first-time buyers are now fuelling the demand for luxury residential apartments. With India emerging as a bright spot in an otherwise staggering global economy, HNIs and NRIs are also clamouring to invest in high-end real estate assets.

Why luxury housing?

Apart from investment woes and the need for a secure investment avenue, the younger generation has woken up to the need to put down roots and be part of a community. The work-from-home culture initiated to maintain social distancing during the pandemic has been quite advantageous both to corporations and to employees. The former saves on infrastructure, resources, and overheads while employees cut down on commute time and money, making for a better work-life balance. But this also means more room to work and teleconference. Young entrepreneurs and professionals now need a home office space to work out of and students to pursue their classes and training programs. This means larger residential units.

The need for walking/jogging tracks, health and fitness centres, yoga rooms, swimming pools, and community centres has become a priority for homeowners. Buyers are looking for projects that can offer them these and more. With a rise in environmental consciousness and sustainable living, buyers are also looking for green housing projects that allow for plenty of natural light and ventilation and for eco-friendly systems such as rainwater harvesting, waste management systems, and composting units in the project.

2023 and beyond

Experts believe that 2023 is the year the luxury housing segment will truly come of age. We are all set to see a huge influx of investment from HNI investors. So, apartments, villas, duplexes, and bungalows upwards of INR 1.5 crore are likely to be a favourite of home buyers. This also means that the top developers in major metro cities will look at the suburbs and upcoming neighbourhoods to build these spacious projects. Planned cities and neighbourhoods like Navi Mumbai will get a new lease on life with buyers looking for a second home or a profitable real estate investment. The infrastructural development, like the new Mumbai airport and the inauguration of the Mumbai Trans Harbour Link, will also help developers expand to these new suburbs.

We can expect these projects to feature more, better home automation systems research suggests that the home automation market in India is expected to grow from USD 3.6 billion to USD 8.6 billion in 2027. The current year will be a major stepping stone in this direction. In addition, more developers shall also be seen adopting eco-friendly green construction practices and employing ergonomic materials because luxury homeowners have smart and eco-friendly lifestyles high on their list of priorities.

What we expect to see this year are more luxury projects coming up in which developers have tied up with some of the top international project designers and interior decorators. Plush ready-to-move homes with all the trappings of aesthetic brilliance and a glamorous lifestyle – that is the prediction for the path ahead.

We must also take a look at the tech offerings that will power the real estate sector this year. More luxury home buyers will look for home buying solutions online. Being a revolutionary online home buying platform, we at Blox hope to be a part of this uptrend.

How Millennials are Reshaping the Real Estate Market

How Millennials are Reshaping the Real Estate Market

Blox Social Mar 27, 2023

As of early 2023, India overtook China to become the most populous country in the world. Of this population of 1.41 billion, 52% are Millennials or Gen Z, taking the country's youth population well over the global average. This is certainly good news for the economy since the participation of the Millennials and Gen Z in the workforce is the key to India's claim as one of the fastest developing and largest economies globally. This also means that these are the generations with the highest purchasing power and are a market force reshaping the real estate market in the country.

Millennials and Housing Demand
To understand the source of homebuyers' purchasing power, it is important to delve a little deeper into the hiring trends of the services industry. The tech industry is concentrated largely around the country's metro cities and urban areas like Mumbai, Delhi, Bangalore, and Hyderabad. In 2022, nearly 68-70% of the hires in the industry were millennials. About 18-20% of Gen Z also went into employment in the industry. The trend is similar in most city-based services industries and businesses. Of the two, Millennials seem more inclined to buy residential property and put down roots, while Gen Z seems to be enamoured with co-living spaces and the flexibility it has to offer. It is indeed safe to say that much of the homebuying demand in major cities comes from Millennials.

Millennials want what Millennials want.

  1. Bigger, better living – Unlike earlier generations, the Millennials are not content with the basics or even the glory of merely owning a residence. If there is one generation that has mastered the mantra of living life king-size, this is it. And so are their demands from real estate. This change is quite evident when we look at cities like Mumbai and Delhi, where till a few years back, studio apartments and 1BHK flats were high in demand, but now homebuyers are looking for large, open apartments. This also could have something to do with hybrid work facilities and the need for a home office.
  2. Rise in technology – Technology plays a key part in most significant changes that we have witnessed in the past few years. Real estate has not remained untouched. From how buildings are conceived and constructed to how homeowners look for projects to invest in, technology has been the driving factor, and the millennials and their needs have much to do with this. Revolutionary tech-powered platforms like Blox that make it possible to buy a residential property in 7 clicks are just what Millennials are looking for. The generation is all about quick decision-making and convenience and commanding services like virtual site visits and 3D renditions of projects that they intend to buy.
  3. All about going green – The Millennials have become more environmentally conscious than any previous generation. The commitment to sustainability that has powered the world comes predominantly from this generation. This awareness and motivation to remain in harmony with the environment, conserve resources, and reduce carbon emissions extend into real estate. The demand for green housing and net zero energy construction is fuelled by the generation. This sets new real estate industry standards and promotes green projects in India's top cities.
  4. Smart homes all the way – The Millennials are the first generation in the country that grew up harnessing the power of technology and the Internet. Since millennials have now taken to conducting every single aspect of their daily lives through their smartphones and computers, it naturally extends to their homes. Smart homes powered by the Internet of Things and interconnected devices are the need of the hour, and builders and developers are keen to oblige. Building smart systems that can be controlled and operated remotely is part of the new real estate movement.
  5. Community building – Unlike earlier generations, the Millennials are leaning more toward community and social networks. This translates directly into how and where they look for housing and residences. Up-and-coming suburbs with good social infrastructure is the place of choice. Top developers and builders are tapping into this need for housing and reshaping how cities evolve with gated complexes and residential communities.

The Indian economy is expanding at a rapid pace, and the services industry is at the core of such expansion. Millennials are now the largest part of the services workforce, with high disposable incomes and purchasing power. They are setting the tone for social life, and owning residential apartments is a part of the Millennial dream. This is a great opportunity for the real estate industry. From ergonomic materials manufacturing to solar power units for residential apartments, from smart security systems to tech-powered home buying portals - there is a whole new world emerging, and the Millennials are the driving force.


How Flexible Workspaces Boost Employee Retention: the Surprising Benefits of Work-Life Balance

How Flexible Workspaces Boost Employee Retention: the Surprising Benefits of Work-Life Balance

Blox Social Mar 27, 2023

Remote working, work-from-home, tele commutation – while we all heard a lot about these terms before 2020, most organisations did not offer any meaningful positions or opportunities for professionals to avail of these. Some organisational policies made it possible to take these up as part of short-term assignments or post-childbirth or on health grounds, but by and large, office spaces ruled the roost. With the onset of the pandemic and the consequent emphasis on social distancing, however, remote working and hybrid working systems are more the norm than the exception. This gave rise to co-working spaces and flexible workspaces. Let us take a look at these to understand how they can be a great employee retention tool and how as a real estate investor, you can make good by investing in them.

What are flexible workspaces?

  • A regular office space is owned or rented by the organisation or corporation you work for. Each department has a designated floor or part of the floor, and each employee has a specified desk. The services like copy machines, cafeteria etc., have a particular space, and this remains unchanged over a long period of time. A flexible workspace makes it possible to optimise the resources by offering the desk or the workspace to anyone who needs it at the time. There can be several different types of flexible workspaces. Here are some –
  • Hot desking facilities – This is an office space that is owned or leased by the corporation, but the desks of employees are not fixed. Employees find available desks and use them for the day or hours they need them and pack away all their belongings at the end of their shift. The desk allocation, in this case, is usually done on a first-come-first-served basis.
  • Desk reservation or hoteling – In this set-up, an employee can choose days or periods of time when they will be working from the office space and can request to reserve a desk. A department as a whole may reserve a space for the duration of a project and then go back to remote working when their reservation ends.
  • Co-working spaces – In this type of flexible workspace, the organisation or corporation does not own the office space, but the employee chooses a co-working space that offers all the resources that a regular office would. These are commercial spaces that are privately owned and offer a desk to any employee, entrepreneur, freelancer, or anyone who wants a professional office environment. They offer infrastructural support such as IT support, printing, copying, internet, food and beverage, and conferencing facilities and sometimes allow the customers to use their address to receive official mail as well. Employees of organisations can reserve a co-working space near their homes and be reimbursed by their employers.

What are the advantages of using flexible workspaces?


  • Advantages to the employees
  1. Optimising productivity – Using a flexible workspace allows employees to choose their own hours and resources depending on the project they are working on. It allows teams to choose hours suitable to clients in case of overseas networking. A change of setting also allows the creative juices to flow and employees to claim the resources they need without sharing.
  2. Minimising expenditure – Travel, commute, and time lost in traffic take a massive toll on employees' time, money, and work-life balance. Flexible workspaces and co-working arrangements offer employees multiple options for a professional environment and resources without the associated expenditure.
  3. Work-life balance – Most organisations and corporations have offices in major cities like Mumbai, Delhi, and Bangalore. The time and effort required to commute in these cities, the high demand and the low housing availability make employees opt to live in the suburbs. Employees can enjoy a rich and fulfilling work-life balance by availing of flexible work environments.

Advantages to the organisation – 

  1. Optimising resources – Flexible workspaces offer organisations an unprecedented advantage, allowing them to maximise available space, energy, and resources. Organisations can now function in a leaner, more efficient capacity.
  2. Employee retention – Offering distance and flexible working options is a great employee retention tool. It shows employees that their employers value their skills but also care about enriching their lives. By making this new hybrid work model a part of the work culture, organisations offer employees more time, money, and well-being.

Owning a commercial space
This is indeed the best time to own a commercial space that can be used as a co-working space. The awareness of flexible working is at an all-time high, and businesses and employees are discovering the joys of flexibility. Working from home has its own downside, as most cannot dedicate a professional space for work. It is highly likely that the demand for these co-working spaces and hybrid offices is only just taking off. As a prospective real estate investor, it is a good idea to research the ideal location and service delivery needs of these offices before you invest.