Tips to Sell Your Apartment in a Slow Market

Buying and selling an apartment is quite common in the real estate market. If you plan to sell your apartment, then keeping track of the market is of paramount importance. Besides, there are also other factors that sellers need to be aware of. You might have always been advised not to sell an apartment especially when the market is witnessing a slowdown. However, at times it can be unavoidable. The reasons are endless with you being shifted to another city, planning to buy a bigger and spacious apartment and so on.

While you are looking to sell your 2 BHK in Thane or 3 BHK in Thane or any other location, in a slow market, there are certain factors you need to keep in mind. Some of them majorly include:

Give It a Makeover

Every buyer who is planning to buy a house looks for something that is worth buying. This is where the importance of giving your house a makeover is felt. When talking about the makeover, it majorly includes leaking pipes, water seepage, broken window panes, cracked masonry and so on. Always remember that the makeover should not be elaborate but substantial only. Ensure all of these aspects are taken care of before you list your apartment for buying. You should know every buyer looks for a house that has less expenditure on the repairs and renovation.

Advertise the Right Way

It is always suggested that you advertise about your property locally. Not many know, but the people living in your area might be interested in buying your property, and hence it is important to advertise it locally first. After all, a lot of buyers tend to look for apartments that are in the same locality. You can take advantage of the same by advertising your property the right way.

Get in Touch with a Reliable Broker

You will do your best to find a potential buyer, but when it comes to widening your search and finding a potential buyer, it is always a broker that can help. This is one reason why you need to get in touch with a reliable broker for the same. Ensure you get in touch with a reputable one. These experts tend to have a larger database of potential buyers.

Get the Pricing Right

Before you put up a price for your property, it is of paramount importance to know the real estate market value of the same. There is every possibility of the prices being increased. As far as quoting the price is concerned, it is wise you gather the rates of the properties in the same area. As the real estate market is bound to fluctuate it is also vital to be flexible as far as pricing is concerned.

These are some tips that might come handy when purchasing 3 or 2.5 BHK flats in Thane and more.

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5 Vital Amenities That Homebuyers Should Look for When Buying a House

What are the aspects you as a buyer will consider when buying a house? It definitely has to be price and location. Well, apart from these, there is also one major aspect that should not be neglected, and that is – Facilities. When talking about the same, facilities tend to change from one buyer to another. While you may be looking for a house with a nice and big swimming pool, there are some who want to invest in a house with top security solutions. To make your whole house hunting for 2 BHK in Thane and around process easy, here are some facilities you need to look for:

Open Space

One of the major aspects a buyer is bound to look for is open space. Understood, that being physically fit is every person’s choice. However, an elderly cannot hit the gym and do strenuous exercises. This is where the importance of having an open space in the building area is important. This is one reason why a number of under construction properties are now considering to have an open space that makes walking easy. This actually enhances the living for one can take a walk and breathe in the fresh and cool air.

Play Area

Just as having an open space important, so does play area. You will find a number of people now prefer investing in 2 or 2.5 BHK flats in Thane and around having a play area. This works in favour of children, for it helps them to indulge in different activities. Besides, these activities play a major role in the comprehensive growth of the child. Ensure the kids play area is safe and well equipped with needed facilities.

Parking Facilities

For homeowners who own a car, having the facility to park the car is important. A lot of buyers looking for buildings having covered parking facility. This is one reason why you will find companies offering this facility to its potential homebuyers.

High-End Security Solutions

Security is one aspect that cannot be given a deaf ear. You definitely want to invest in a house that ensures safety of your family. Ensure the property or apartment you are investing has high-end security options. It majorly includes, CCTV cameras, alarms, fire alarm, round the clock security guards and more.

Swimming Pool

A swimming pool at your own complex may seem like a luxury. However, nothing can be better than having a swimming pool that makes the whole hassle of going to a resort. However, ensure the company or the builder takes swimming pool maintenance seriously.

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Know the Registration of Property Transactions in India

Buying and selling a property is not easy as it seems to be. There are a number of factors one needs to keep in mind. As far as sale or purchase is concerned, it is important to register the necessary documents. No matter whether you are investing in a ready-to-move in apartment or new residential projects in Thane and around, ensure you have the necessary documents ready. The law of registration of the documents is contained in the Indian Regulation Act. This law offers registration for a number of documents, to ensure the protection of evidence prevents fraud and assures title.

Documents Of Property That Required Compulsory Registration

As per the Section 17 of the Registration ACT, 1908, it is important for all the transactions that include the sale of an immovable property above Rs. 100 should be registered. In simple terms, all the immovable property should be registered, after all, no immovable property can be purchased for a mere Rs. 100. Apart from this, all the transactions of the gift as an immovable property and also lease for a period that exceeds 12 months should be registered. The term immovable property majorly includes land, buildings and all the rights that are attached to the property.

Documents Required and the Procedure Involved

It is of paramount importance to submit all the documents for registration to the office of Sub-Registrar of Assurances. Furthermore, it is vital for both the authorised signatories, for the seller as well as a buyer should be present along with two witnesses. It is vital for the signatories to carry their identity proof, which includes Aadhaar Card, PAN card, and Driving licence and so on. Besides, the signatories also have to furnish the power of authority, in case they are representing another person. Before the registration of the documents is done, the sub-registrar verifies the document along with the original ones and proof of payment of stamp duty. Keep these documents ready no matter whether you are purchasing a 2 BHK or 3.5 BHK flats in Thane and around.

Fee Payable and the Time Limit

Documents that are needed to be registered compulsorily should be presented within four months from the execution date, along with the fee. In case, the time has expired, you are required to submit an application to the sub-registrar for condonation of the delay. The registration fee for the documents is 1% of the property value.

In case the purchase agreement of the property is not registered, it could put you at huge risk. You should know, all the documents required should be registered, if not registered the same cannot be produced to the court as evidence.

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Why Residential Projects Should Offer Open Spaces For Children?

There are a number of factors every home buyer tends to look into when buying a house. While space, amenities, school, pharmacy and so on, do play a major role in your home purchase, it is also vital to ensure the project offers open space for children. A lot of homebuyers tend to neglect on this aspect. Not much attention is given to open spaces for children to play. When you reside in apartments, children do not have access to open garden and spaces. This is why ensuring the residential project you are investing is has open spaces for children.

Lack Of Open Space Forces Parents To Look For Other Options

You will find a number of residential projects tend to have less or no open space for children. This further forces parents to look for other options like watching television, playing on mobiles and so on. While social development is of paramount importance, having enough open spaces ensures this option is fulfilled. Every sq.ft of space is put to use for construction purpose. This leads to no or less space for gardens or open spaces. This also forces the parents to indulge their children in other activities like football, gymnastics, and tennis and so on. However, as these activities are under the supervision of adults, it leaves no room for social interaction. Well, the same aspect is well taken care of by T Bhimjyani – a reputable real estate company offer various residential projects in Thane and around by having large gardens for children and senior citizens.

Importance of Play Areas for Children

The importance of play areas and gardens should not be neglected. After all, these areas help children to learn more about the surroundings and meet other children of the society. Apart from this, the slides, swings and more work towards building a sense of competence in them. This further helps in increasing the confidence level. Furthermore, when children are not in a structured environment, it allows them to let their imagination flow the way they want it to. Besides, it also helps them to meet and make new friends who are not possible if they live in a structured environment.

How can Developers Incorporate Needs of Children in the Projects

Every parent is concerned about the falls and scraped knees. But then, these are part of every child’s growth. Considering this aspect, it is important for parents to invest in the projects that have play area or garden. As far as incorporating the same is concerned, builders and developers can include the same in the project plan. A lot of renowned real estate companies  include the same in the plan whether for 2 BHK or 3 BHK in Thane and around. After all, they understand how important it is for children to play outside than staying inside.

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How Will Altering Interest Rates Affect EMI of Home Loans

Interest rates do play a major part as far as home buying is concerned. Every home buyer needs to be aware of the same and should include in the home buying decision. The current interest rate on the home loans is around the 8% mark. This mark definitely looks attractive as compared to what it was some years back. No matter whether you are planning to take home loans for 2 or 3 BHK in Thane and other parts of Mumbai, knowing the interest rates is of paramount importance.

Know the Effect of the Home Loans in the Interest Rates Largely

You might have seen that a lot of home buyers prefer for a floating home loan rate. If the interest rates witnesses’ downfall after taking taken the loan, the borrower has to wait for a year for revision. The reason for the same is because most of the banks tend to have home loans on the 1-year MCLR rate basis. The tenure of the home loan ranges around 20 years which seems to be a long period. Hence, a slight increase or decrease in the same can have a great impact on the overall cost of the property.

The Outlook of Home Loan Interest Rate

Home loan interest rates are bound to fall even though the Reserve Bank of India or RBI did not cut the repo rate. As RBI has reduced the money that banks normally set aside as security for the home loans, from 0.4 to 0.25%, banks can lend more to home buyers than they used to. In simple terms, with the statutory liquidity ratio reduced to 50 basis points, the banks now have more of the capital to lend. This can further lead to lower home loan rates. A lot of banks are cutting home loan rates. It is believed, the rates may be reduced by 25-50 bps in the next 12 months.

How Much of EMI Should Home Buyers Pay?

As the EMI payment is concerned, it is vital for the home buyers to keep in mind two major aspects: current cash flow and future cash flow. Banks tend to keep it flexible by keeping lower EMIs in the initial year, while huge EMIs can eat up a large amount of your earnings. This further leaves no or less finance in case of any emergency.

How to Decide on the Home Loan Tenure

The tenure of the home loan can be decided on these following factors:

Income – Ensure the EMI is not more than 55-60% of your monthly income.
EMI Amount – EMIs tend to be higher if you choose lower tenure. If you can pay higher EMIs, then you can opt for lowest tenure.
Age of the Borrower – The perfect way to calculate home loan is 60 years, minus the borrower’s age.
Know the purpose – Know whether the property you are buying is for investment purpose or residence.

Make a wise home purchase with right interest rates.

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