30Apr

Location – Why It Plays a Major Role in Buying an Apartment in Thane

Purchasing a property is a huge investment. There are several factors to consider, as a first time owner is often confused about the first steps to take in becoming a property owner. While considering the budget is of primary importance, there are other factors also that need to be accounted for, such as the locality, the amenities, the neighbourhood and so on. If you’re living in Mumbai, you may be tempted to buy a home in posh areas like Juhu, Colaba or Bandra, but the property rates in these areas may put a damper on your dreams. So, what if we told you that there is a Mumbai locality, known for the finest realty projects, offering world-class amenities at affordable prices. Yes, today, you can find the most premium flats for sale in Thane at extremely affordable rates.

Why Thane?

Sure, Thane had the reputation of being a smoke-emitting, pollution producing industrial city formerly. But that is a thing of the past. In the last decade or so, Thane has emerged as a hub for extra-ordinary, world class facilities in every imaginable sector. Whether it is the education industry or the health-care one, whether it is the shopping complexes or entertainment options, the development of Thane as a futuristic city is of epic proportions. Whether you choose to purchase flats in Thane West or East, you are making a worthwhile investment.

Thane is ideal even if you intend to buy a home for investment purposes

A huge number of buyers purchase a property for investment purposes. If you too are one among them, then you will find that Thane is ideal for investment as you can purchase comfortable and spacious homes that would attract all types of renters. You can in fact use the rent earned to pay off the EMI on the home. If you’re purchasing the property without any loans, the rent from the home can serve as additional income. If you are looking for a long-term investment options, then you could consider investing in under-construction residential projects in Thane. As they are under construction, the prices are bound to increase once the project is completed. This further works in favour of your investment, thus helping you get higher returns.

Thane is a great place to raise your family

Even if you intend to use the property for personal uses, Thane is a wonderful locality to consider. Thane is home to several reputed international and elite schools. Besides, several reputed training institutes from Mumbai have also opened branches in Thane. Other than this, Thane’s hospitals are known for their state-of-the-art facilities and are frequented by the finest doctors in the city, securing your health-care concerns for children and older parents.

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24Apr

Planning to Invest in Under-Construction Projects – Consider These 4 Tips!

Every individual has a vision of what his dream home should look like. The number of rooms, the area per square feet, the locality, and the amenities available in the locality are a few of the obvious concerns when one sets out to purchase a home. That property investment is a life-long investment is a known fact. It is therefore essential to do a thorough research about the real estate agency from whom you choose to purchase your property. Many of us refrain from buying ready-to-move-in flats because there is little scope to make any changes or have some customizations done as per our requirement. Perhaps, this is why more and more people in Mumbai prefer to invest in under construction projects in Thane.

Irrespective of this, it does not matter whether you want to invest in a ready-to-move-in apartment or under construction property; here are some traps a lot of buyers tend to turn a deaf ear to.

1.    It is of paramount importance to get everything in writing when you are buying a flat. As a potential homeowner, ensure you do not make the mistake of signing on everything without reading it. Ensure everything is agreed and negotiated before you sign on the dotted lines. If you are planning to invest in an under-construction property, then talk with the builder to understand timelines regarding project completion, possession period, repercussions in case of inability by the realtor to honour the commitments etc. Ask as many questions you can, but, ensure the answers are in a written format.

2.    The property or apartment will be purchased from a builder, and hence it is important ensure that the builder has clear records. For the same, you might want to ask around, get in touch with the builder’s former clients, know if the project was delivered on time, and so on. In short, ensure the builder you plan to consider for new projects in Thane or any other city, is trustworthy. Builders like T Bhimjyani Realty, Piramal Realty, Lodha Group etc., are reputed names in the real estate industry.

3.    As a potential homebuyer, it is important you ask for the commencement certificate of the floor. This certificate plays a pivotal role in case the construction is not done on time. Say for example, if the apartment you booked for is on the 10th floor, but the construction is completed only till 5th floor, then asking for this certificate proves beneficial.

4.    Another vital aspect that cannot be neglected when investing in new residential projects in Thane and around is asking for the construction’s project drawing copy. This majorly includes duly stamped documents by the authorities, floor plan and so on. Apart from this, also check if the builder has the ownership of the land where the construction is going to take place.

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14Apr

Keep these Aspects in Mind If you are Planning to Take NRI Home Loans

Owning a home is perhaps the biggest dream of the working class man. People toil for years to save enough money to be able to afford a down-payment into a place they can call their home. Some even leave the country to improve their prospects of owning a home, buy finding means to earn in countries with stronger currencies. Such individuals are called NRIs. Due to high conversion rates in foreign currencies, NRIs can save more and have a secure place to call their home when they return to their motherland. There is a huge scope for NRI investment in real estate in India. NRIs wishing to invest in a home in India must be aware of factors that make them eligible for a loan. Here is everything you need to know about procuring NRI home loans.

Type of NRI loans

If you are planning to invest in a property, then as an NRI you might want to consider applying for home loans. It majorly includes:

•    Upgrading an existing property
•    Property under construction
•    Construction of property on the land already owned
•    Ready to move in property

Loan Amount Can Be Availed

NRI loan amount is decided on a number of factors. It majorly includes income of the NRI, which should be consistent and steady. Besides, Gross Monthly Income is also taken into consideration. This further helps in deciding on the Monthly Equated Income or EMI. As the name suggests, an NRI has to pay on a monthly basis with certain amount as interest. Get in touch with banks and financial institutions for every agency tends to have different eligibility criteria.

Home Loan Tenure and Rate of Interest

It is vital to know that an NRI can avail home loan for a limited period of time. Say for example, 5 – 15 years. The extension for the nri property investment in india is dependent on the bank’s decision. The bank exercises its discretion regarding loan extension. However, for whatever reasons, if the bank does not comply, the loan must be repaid in the pre-decided, stipulated period. It is vital to know that the rate of interests on NRI home loan is high. So, seek expert help in case of any queries.

Documents Needed

To facilitate easy and hassle-free loan disbursals, NRIs must provide the following documents, as requested by the bank.

1.    Passport Copies
2.    Employment contract
3.    Salary Slips
4.    Valid work visa and permit
5.    Bank statements in NRO and NRE accounts

These are some factors every NRI planning to invest in Indian real estate with the help of home loan should be aware of. Go through the nri corner on the bank’s or realtor’s website or for more details.

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9Apr

Why Homebuyers Prefer 3 BHK in Thane?

Big, spacious, affordable; these are the three words described by potential home-owners on the look-out for a new home. It is especially true of families where three generations of people reside under the same roof. But bigger homes, usually come with a bigger price tag, making it a distant dream for many, especially if they are living in a city like Mumbai, where property rates kiss the skies with every passing day. If you are an aspiring home-owner with the dream of owning a home in Mumbai, look no further than Thane. You can purchase the most plush and comfortable 3 bhk flats in Thane, in budgets that can easily fit your pockets. Here’s why purchasing a 3BHK apartment in Thane is a great idea.

Great for Large Families

In a city like Mumbai, where living in cramped spaces has become a reality, people don’t have enough privacy. People live in homes where living rooms are converted into bedroom when it is time to call it a night. They sleep on sofa-cum beds instead of a proper bedroom. But with a 3 BHK apartment in an area like Thane, every family member can have their own nook to retire into. The fact that you will spend the same amount on a 3BHK in Thane as you would on a 1 BHK in areas like Juhu, Bandra or Colaba, makes Thane an attractive city.

Not Much of a Price Difference

A lot of people are of the view that 3.5 bhk flats in Thane are expensive. However, there is not really much of a difference in price between a 2 BHK and 3 BHK apartments in Thane. There is a marginal difference, which is why people prefer to purchase a 3 BHK over 2 BHK. After all, both homebuyers and investors are ready to shell out a little bit more for luxury, comfort and space. This has further led to a number of real estate companies offering flats by keeping a marginal cost difference.

Great for Investment

Apart from providing additional comfort and space, a 3 bhk flat in Thane is affordable too. People who have no intention to shift to Thane can still invest in these apartments. With Thane being a futuristic city, it serves as a perfect investment option, as the rates of apartments are bound to increase. Since bigger apartments fetch higher rental incomes too, investing in them is definitely a better idea.

A Strategic Location

Thane is home to the finest, most luxurious real-estate residential and commercial complexes. It has emerged as a hub with tremendous opportunities for shopping and entertainment, besides also housing some of the finest educational and health care facilities in the city. Thane has also emerged as a location where top companies are setting up shop. The apartment rates are reasonable as compared to other Mumbai locations.

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2Apr

Why Invest in 2.5 BHK Apartment?

In the older days, even the largest of families were comfortable staying in a 1BHK. But as time passed by and people began having accesses to bank loans and a growing purchasing power, they began preferring to live in homes with more than 1 bedroom. The benefits of living in a multi-bedroom home were many in that, family members could have their own personal space, making it more comfortable for people living in joint families. In a city like Mumbai, purchasing a 2.5 BHK comes at a hefty price. But with the growing affinity for Thane thanks to its rapidly developing infrastructure, more and more Mumbaikars are opting for 2.5 BHK flats in Thane. Let’s find out why.

Why Consider Thane?

Over the years, Thane has grown into a major residential area. Thane is no longer known for its pollution-emitting industries but has emerged as one of the poshest residential localities in Mumbai. Another major reason for its growing popularity is because of the affordable rates of the apartments coupled with its fantastic amenities. The rates are reasonable and easily fit into the budget of a common man. Thane is a budding city that has witnessed tremedous growth as far as both residential and commercial real estate is concerned. Besides, the improved public transportation facilities link Thane to the heart of Mumbai city in a jiffy.

Here are some of the reasons that tell why you need to invest in a 2.5 BHK apartment in Thane:

Better Financing Options

With so many realty companies setting up multiple luxurious projects in Thane, the city is also seeing a rise in attractive financing options that potential home-owners can avail. If you wish to purchase a 2 BHK flat in Thane, every established realtor like Lodha Group, T Bhimjyani Realty, Piramal Realty etc., will guide you with the best financing options. You can choose a home loan at a flat or floating rating with big tenures and lower EMIs.

Great Savings on Investment

Real estate has always been an investment option for many. Your own home is not only the biggest investment you can make, it also gives you the comfort of security. While one can purchase a bungalow or a row-house, it is always easier to sell an apartment like a 2.5 BHK in Thane, should the need arise. A fully furnished 2 BHK in Thane is offered at rates which are affordable and can easily fit into your budget.

Works Great for Families

A home with a 2BHK affords every family member their own private space. Children can have their own room as can couples. 2 or 2.5 BHK flats in Thane are enough for a family of 4 people and eliminate the need of living in a cramped space and making the living room a make-shift bedroom. It also works great in case you have families or friends visiting for a few days.

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