31Oct
By In new residential projects in Thane

4 Tips to Invest in an Under-Construction Project

Buying your dream is not easy as your think it is. Various factors need your attention to make your purchase a great one. You definitely do not want to invest in a property only to later regret on. Buying or investing in any property requires your thorough investigation, from price, real estate market value, your budget, when do you plan to move-in, the neighbourhood and more. The list just goes on and on. While these aspects do play a major role, there is one aspect a lot of buyers are confused on – Whether to invest in under construction property or ready-to-move-in apartments. Well, the choice is completely yours. For people who are planning to invest in under construction projects in Thane and around, here are some tips that might prove fruitful.

No matter whether you plan to invest in an under-construction property or ready possession homes, it is important to be aware of certain traps that often gets neglected. An under-construction property definitely sounds an affordable bargain than ready possession homes. However, there are certain tips and traps you need to be aware of to ensure you make a wise decision:

•    It is the builder you will be purchasing for. Hence, it is important to ensure the builder has clean records. Check out for them for they will give you a brief idea on whether it is wise to invest in the under-construction property the builder is offering. Ensure the builder is trustworthy and has a good image in the market.

•    Ensure you get everything in writing. As a buyer ensure you do not sign anything until everything has been agreed upon, negotiated and written in the contract. If you have decided to invest in an under-construction property, ensure how your apartment will be finished, what will happen in case the construction does not happen on time, or if the deadline is not met and so on. While you ask these questions, ensure you take the answers in writing and is signed by the concerned parties.

•    When you are investing in new residential projects in Thane, and around, it is important that you as a buyer ask for a copy of the construction project’s drawing, floor plan, duly stamped by the authorities. Besides, do not forget to check whether the builder or the real estate company has the ownership of the land where the construction will take place.

•    As a buyer, you can ask for the commencement certificate of the floor, in case the construction is not completed to the floor you have booked your apartment in. For example, if you have booked your apartment on the 15th floor, but the construction is completed only till 10th floor, then you can ask for this certificate.

These are some effective tips that aim at helping you invest in right residential projects in Thane and around.

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25Oct
By In NRI Property Investment

NRI Property Investment – Can an NRI Own or Purchase Indian Property

Under the guidelines of Reserve Bank of India or RBI, a Non-Resident Indian or NRI can purchase certain types of properties. However, form some type of realty, an NRI will require special permissions. A Non-Resident Indian who is interested in investing in the Indian real estate should be aware of the legal provisions that pertain to both purchasing and owning of immovable property under the Foreign Exchange Management Act (FEMA). NRI investment in real estate should be made keeping in mind a number of aspects.

Types of Properties an NRI or Persons of Indian Origin (PIOs) Can Invest In:

A general permission is given to the NRIs through a circular an NRI has a special by the Reserve Bank of India or RBI to purchase any commercial or residential property in India. For the same, an NRI need not send any communication or intimation or seek any special permission from the RBI. As far as existing general permissions are concerned, an NRI can purchase any number of commercial and residential properties back in India. Apart from this, an NRI is also allowed to own any number of commercial and residential properties under the Income tax laws. In case, an NRI is not able to make it to India, the documents for the purchase can be submitted by a person, who has a valid power of attorney. Under the Reserve Bank of India’s general permission, an NRI property investment cannot be made on plantation property or agricultural land in India. An NRI will have to seek special from, NRI if he/she wants to buy a plantation or farmhouse.

Continuance of Property Ownership, After an Individual Becomes an NRI

You are bound to wonder if the situation where a person who already owns properties in India and subsequently becomes an NRI. Well, in such a situation the person can continue holding the properties in his/her name in India. Besides, an NRI can even continue owing plantation property, farmhouse or agricultural land, that he/she earlier owned. Apart from this, the individual can even let out the property. However, the rent received from such properties can be sent only after appropriate Indian taxes have been paid.

Joint Ownership

Not many know, but an NRI can buy a property in India as a single owner or jointly, with other NRI. You should know, a resident Indian cannot become a joint holder who is not allowed to invest in the Indian property.

Similarly, an NRI is also allowed to gift or sell an immovable property to any person of Indian origin. Besides, a resident Indian can also transfer or gift the property, other than farmhouse, agricultural land or plantation property to a Non-Resident Indian.

Go through the NRI corner for more details.

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16Oct
By In 3 BHK flats in Thane, 3.5 BHK flats in Thane

Luxury Comes in the New Form Through 3 BHK!

There has been an increasing demand for 3 BHK as compared 2 BHK flats. One of the major reason for the same is because homebuyers prefer having an additional bedroom. Besides, people having bigger families prefer investing in a 3 BHK than two houses on the same floor. For it offers extra space and comfort. Homebuyers tend to consider investing in an apartment that is spacious, and hence there is a rise for 3 BHK flats in Thane and around.

Increasing Buying Power of a Homebuyer

Thane has grown to be a major residential location. You will find this metropolitan city has witnessed a great increase in the number of upcoming residential properties. Well, various reasons tell why Thane has grown to be a major residential location. One of the major reason is that of the affordable rates of the apartments. The rates are quite affordable as compared to other locations. Besides, Thane also serves as a major commercial hub. You will find this city is home to a number of major and top companies. With plenty of employment and affordable apartment rates, all this sums up Thane as a perfect residential location.

No Much Difference in the Price

You might think investing in a 3 BHK flat in Thane and around is much reasonable than a 2 BHK flat. There is not much difference as far as price is concerned. Say, for example, if 2 BHK is offered at 75 lacs, then a 3 BHK is easily available at 85 lacs. So, there is the marginal difference, and hence many homebuyers prefer investing in a 3 BHK. After all, they stand to get an additional bedroom and a spacious apartment. While this serves as a perfect sign for attracting homebuyers, many builders tend to offer 3 BHK apartments by keeping a marginal cost difference.

3 BHK – Luxurious and Spacious

Another major reason why buyers prefer 3 BHK over 2 BHK apartments is that they are spacious and luxurious. It works to the benefit of homeowners in case you have guests over. You no longer have to sleep in the hall or living room, due to space issue. Investing in a 3 BHK apartment is a win-win situation you can say. It is affordable, spacious and luxurious. Besides, it offers room for creativity as far interior designing is concerned. You can remodel or design your bedroom the way you want.

These are some reasons that state the increasing popularity of 3 or 3.5 BHK apartments in Thane and around. Make a wise purchase.

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8Oct
By In 2.5 BHK flats in Thane

Aspects That Impact the Home Loan You Are Entitled to

Homebuyers tend to rely on a home loan to buy their dream home. However, you should know there are a number of factors that impact on how much of loan you are entitled to. Definitely, it is the income of the applicant that plays a major role in determining the amount of home loan one will get. However, there are various other factors too that play a major role. Apart from checking the eligibility of the applicant for the home loan, lenders also have to certain criteria to determine the home loan that can be granted to the applicant. So, no matter whether you want to buy 2 BHK or 2.5 BHK flats in Thane, know these aspects that impact how much of home loan you are entitled to:

Income

Undoubtedly, it is the income of the applicant that determines the home loan you are entitled to. Generally, lenders tend to consider 40 percent to 50 percent of the monthly income for servicing the home loan. The income proportion for loan servicing tends to increase the income of the applicant rises. So, for a person who has higher income slab, the lender is bound to consider a higher percentage of the monthly income.

Age and Remaining Years of Service

Home loans are offered for tenures up to 20 years. Not many know, but your age and the remaining years of service also restrict the loan amount. Your loan eligibility will reduce if you are more than 40 years of age, and has less than 20 years of remaining years of service. For a salaried person, the retirement age of 60 is considered, while for self-employed it is 65 years.

Any Existing Loan

Another major aspect that you need to keep in mind before applying for the home loan for your 2 BHK in Thane or around is knowing you have an existing home loan. The lender will subtract your existing loan’s EMI while computing your eligibility. Furthermore, your home loan eligibility will be based on the amount reduced. In order to enhance your loan eligibility, you are advised to repay the outstanding loan, if the amount is small.

Availability of Co-Borrowers

Not many know, but the loan amount will increase if you have a co-borrower. In this, the income of all the co-borrowers is pooled in, which further determines the amount available for EMI payment. Ensure all the joint owners are included as co-borrowers, no matter they have a separate income. A co-borrower can also be a person who is not a co-owner of the property.

These are some aspects that impact the home loan you will get for your dream home.

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1Oct
By In real estate companies

Thane Emerging as A Major Residential Location

Thane has definitely grown to be a major residential location. You will find a lot of people considered it to be a lucrative property investment destination. Thane is definitely scoring over the other parts of the Mumbai Metropolitan Region or MMR. It is one of the most sought after location among the potential homebuyers. Thane is considered by people who are looking for affordably priced apartments. If you are planning to invest in Thane property, then consider hiring help from top real estate companies.

These companies work towards helping you find a right property or apartment based on your needs and requirements. There are a number of benefits offered by Thane for potential homebuyers. There are different and various factors that help Thane to be a major residential location among the others. The strategic location of this city, rapid infrastructure development, realistic property rates, availability of the land for housing and more. These are some factors that have led to the popularity of Thane as a major residential location. In fact, these are some aspects that attract potential home buyers.

A lot of real estate companies in Mumbai understand this aspect and offers upcoming and new residential projects. The residential market of Thane has evolved effectively as compared to what it was a few years back. This has also led to many people shifting their base to Thane. After all, Thane offers homes and apartments that are reasonably priced with all the modern amenities, open spaces and not to forget greenery. Not many know, but as compared to Mumbai, buyers stand to get bigger and spacious homes with modern amenities in Thane. It also works in favour of investors for they can earn better returns. The proposed Thane metro has also led to increase in demand for its real estate market.

Another main reason for the growing popularity of residential real estate market of Thane is the rise in the information technology companies. These IT companies have shifted their offices to this beautiful city, Thane, which in turn has made it into a major tech and service hub.

Some Prominent Real Estate Companies in Thane

Taking advantage of growing popularity of Thane as a residential area are top real estate companies. A number of well-known developers Kalpatru Group, T Bhimjyani Realty Private Limited, Puranik Builders and more have started their residential projects in this budding city. These companies offer apartments keeping in mind the needs of its buyers.

So, if you are planning to invest in a property, consider Thane!

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