时间：2022-09-20 09:03:09
Searching for a property is difficult. Usually, you start with reading advertisements in newspapers and real estate websites. Several weeks pass by before you identify a property. However, when you approach the builder, it is not uncommon to find that it has increased prices. What should you do in such a situation? Is it better to invest in a property at the launch stage when prices are the lowest?
EARLY BIRD
Early investors can avail of discounts. Most real estate projects are developed in phases. Even before the basic approvals are in place, developers start marketing projects to brokers and some buyers at a discount. This is called soft launch in industry parlance.
“To attract investors, developers offer a 10-15% discount at soft launch. The discount may go up to 20% for a smaller project, especially if it is still under conceptualisa- tion,” says Amit Goenka, national director, capital transactions, Knight Frank India.
Developers use soft launches to start generating cash flow. Usually, they begin by inviting bookings from old customers and local property agents. The discount is for limited bookings and a short period. Soft launches also help developers gauge the market response before the formal launch.
“Builders understand that the early buyers are sharing the risk.
The discount is a way to compensate them,” says Amit Gupta, managing director, Orris Infrastructure, a New Delhi-based developer.
Soft launches also benefit brokers and investors. “Brokers use pre-launches to offer clients a lower rate. When the project is launched officially, these clients sell at a premium, earning a good profit in a short period,” says Kailash Gahlot, director at Delhi-based Brisk Infrastructure and Developers.
Builders keep rates low in the first few days of the launch too. This is because at this stage construction is just beginning and there is still a huge execution risk. So, builders offer a discount, though small, to create demand.
However, most developers allow buyers to sell under-construction properties after they receive a certain part of the total price, usually 25-30%.
PRICE REVISIONS
Builders raise prices after development begins and the number of buyers increases.
“Typically, developers raise prices based on sales. If the phase that is up for sale gets, say, bookings for 20-30% units in the first few months, the developer increases prices. The increase is determined by prices of competing projects in the vicinity. The extent is higher if sales are brisk or the price difference with a competing project is large,” says Knight Frank’s Goenka. “The price increase is based on demand, the value perceived by the buyers and their appetite to pay more for the project’s advanced stages,” he adds.
Several developers revise rates after they sell a fixed number of units. “Usually, builders keep starting prices low to sell 20-25% units in a project on a rate-to-rate basis or even below cost to start cash flow. They charge extra for the remaining units to recover cost or the profit margin lost on initial sales,” says Rajesh Goyal, managing director, RG Group, a New Delhi-based developer.
However, higher prices should not be the sole reason for striking out a property from your list. If the demand for a project is robust, it makes sense to clinch the deal even after prices have been increased. The risks associated with such projects are reduced significantly in later stages.
“The end-consumer should not be worried about price increases as the aim is to own a good property for living,” says Goenka.
RISK ZONE
An early bet can be risky. “Investing at the soft-launch stage is more risky than at the advanced stage. It is not advisable for a person with a low risk-taking ability unless the project is by a reputed builder and has all the necessary approvals. The project should be approved by reputed banks,” says Goenka.
By the time a project is open for the public, its status becomes clear and several risks are eliminated.
“In the initial phase, the project should have received at least basic approvals so that the developer can start ground-breaking and foundation work, build the sample apartment and print brochures,” says Goenka.
If you plan to benefit from low prices in early stages of property projects, you must be aware of the developments in the real estate market. “Talk to a good property dealer in the area and ask him to keep you updated on new launches. It is advisable to take professional advice before investing in a new project,” says Gahlot.
Simple ways to get better fuel efficiency without you having to be adept at the mechanics that power your car so that you can drive past the fuel pump more often than you stop there
Keep the pressure on
Driving with optimal tyre pressure makes a huge difference to your car’s fuel efficiency. Reduced tyre pressure means increased contact area between the tyre and the road. As a result friction between the rubber of the tyre and the road increases, resulting in higher fuel consumption. Over-inflated tyres will mean a lower consumption, but at the cost of grip and ability to disperse water on the road. Make sure the tyres are inflated at the manufacturer recommended levels and you’ll be fine. And don’t forget to check them once a week, always in the morning.
Smooth operator
Be as smooth as possible with the car’s controls. Treat the accelerator and the brake pedals with respect. Rough speedy acceleration and sudden brakes might be more fun on the road but harms your vehicle’s fuel efficiency.
Consolidate trips
Two short trips will inevitably consume more fuel than one that is slightly longer. This is because your car consumes extra fuel each time you crank the engine. Combine as many trips as possible to keep fuel efficiency high. As a bonus, you’ll also be saving on travelling time.
Keep it shut
A car’s fuel efficiency has a lot to do with how it parts air on the move. In other words, aerodynamics. Open windows, even partly, at high speeds can impact fuel efficiency and result in the tank draining out quicker due to increased drag. Contrary to popular notion, you’ll save more fuel with the windows up and the air conditioner turned on.
All geared up
Shift to the highest possible gear without the engine knocking. A car consumes more fuel in lower gears when accelerating. If the engine’s not pulling, shift down instead of pressing the throttle. Shifting up at 2,000rpm(1,500rpm for diesel) gives the best mix of speed and economy. On an automatic with manual shift, short shift to save fuel.
Lose some weight
The heavier the car, the greater will be its thirst. You don’t have to be a quantum physicist to know this. So ditch that child safety seat you don’t use anymore, the spare tyre that’s not fit for use or even the tonnes of garbage that you lug around. Keep the boot empty and clean and watch the fuel gauge become more stable. The extra bucks will make up for the trouble.
Idling is the devil’s workshop
An idling car burns fuel without really going anywhere. So if you have your engine running while you’re waiting for someone, you’re effectively getting 0kmpl at that time. Some cars even give a litre per hour consumption on their trip computers to help you keep track. Simple solution. Switch the engine off. Or, if you have the budget, buy a car with auto start-stop technology.
Keep it clean
Don’t drive your car with dirty or clogged filters, such as the air filter or the oil filter if you don’t want to shell out at the pump. Get them cleaned or replace them. It will be money well spent since you won’t be bleeding slowly. A serviced engine will also consume less fuel, so don’t ignore the schedule.
Use a route planner
This might seem like pushing it, but before you go somewhere, choose your route carefully. Delays due to traffic lights, congestion can be minimised. Also, start 10 minutes before rush hour starts, especially if you’re a daily commuter.
Take a walk
A no-brainer this one really. If you don’t need to drive somewhere, don’t. Also, if you have to visit a crowded area, such as a market or a fair, park your car some distance away where you don’t have to drive around to find a parking spot. It will save you time, the hassle of navigating through congestion and of course a lot of fuel. Moreover, a bit of exercise can do you and the family no harm either.
None of these tips require too much effort to implement and you don’t need to be an expert mechanic to understand the ways in which these help improve efficiency. Follow them diligently to save money in times of inflated fuel prices.