5 Advantages of Investing in Under Construction Properties

Off-plan or newly constructed property: which is better? This is a question that every investor mull over before making an informed decision. Buying a house is never easy. Although it may be an exciting milestone, it is a tedious task. The buyer has to be conscious of minute details like the design, number of rooms and the locality. When it comes to Mumbai, many real estate companies are slowly migrating to the new hub, Thane.

Over the years, Thane has outgrown to be the greener and scenic place. Precisely one can find high-end realtors such as T Bhimjyani, Lodha, Runwal, Piramal projects coming up at affordable rates.

One of the much-anticipated under construction projects in Thane is the T Bhimjyani’s Neelkanth Woods at Manpada. It is a culmination of nature and luxurious spaces, closer to the city’s essential amenities and offers world-class facilities to its investors.

Coming to the question between under construction and new-made property in Thane, the following points will explain why the former is ideal:

1)    Time saves dimes: Purchasing under constructed properties are cheaper before the completion stage. Meanwhile, ready to buy possessions are expensive. One almost spends 20 to 40 per cent more money on new construction properties. By investing in under constructed accommodation, the equated monthly installments (EMIs) of home loans shorten as the loan budget reduces considerably.

2)    Profit and more profit: Real estates are an excellent source of investment. When the investor purchases properties at the pre-possession stage, they can earn a substantial profit by selling them before the completion stage. Moreover, the additional benefit in some of the under construction projects in Thane is, buyers can modify the amenities/facilities as the builders have to foot the bill and not the buyer.

3)    Government support: The fear of loss of money is a thing of past, legally and literally. Thanks to the new Real Estate Regulatory Act (RERA), builders cannot fleece the buyer anymore. As per the Act’s directive, builders who do not comply with the deadline of the project, have to return the invested money along with interest to the buyer.

4)    Your home, your design: Most often ready to occupy accommodations leave the buyers disappointed as the design and architecture are not up to mark. While in under construction apartments, one can make changes as per their specifications or Vaastu to a certain extent.

5)    Investment authority: Before advertising or selling the property, builders have to register the project under RERA. Post-registration, builders have to upload the property related documents to RERA portal for the layman’s perusal. This keeps the buyers’ money secured and saves them from fraudulent activities. The investors can also monitor if the invested capital is getting rightly utilised in pre-possessed properties. If not, they can complain to RERA of the same.

Get the calculations straight before investing in under or new construction in Thane.

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3 Types Of Properties an NRI Can Invest In

Amongst the various investment options available in the Indian market, real estates are the trickiest. It is not just the Indian residents but also the non-resident Indians (NRIs) who are intrigued by the real estate investment. Here are some of the reasons why NRI investment in real estate is on a high:

•    Safeguarding retirement plans
•    Growth of investment
•    Tax benefits
•    Higher returns

Unlike the Indian residents, NRIs do not have access to all kinds of properties. NRI investment in real estate is limited to residential, commercial and bungalows. However, they cannot own agricultural lands, plantation, and farmhouses, unless inherited by their ancestors.

Let us learn in detail about the investments that are viable for the NRIs:

1)    Residential properties: Investing in residential projects is a wise decision as NRIs can expect high returns. NRIs can also expect substantial cash flow by renting such properties. They can acquire them directly through the builder or as part of the gated community. Residential properties mainly include apartments and flats. NRIs are advised to buy residential properties during the pre-launch phase. The location, market rates, and other factors should also be considered. They can seek expert advice if they are unsure of the nitty-gritties.

2)    Commercial properties: A majority of NRIs today prefer investing in commercial real estates for two reasons: high rental yields and capital appreciation. For such investments, NRIs focus on metropolitan cities like Mumbai, Bengaluru, Delhi, Hyderabad, Chennai, and Pune. They primarily look for Grade A offices like IT parks, logistic centers, and co-working spaces. The strong start-up culture has risen the demand of co-working spaces as they cannot afford the high-quality professional property. Hence, NRIs have veered towards commercial properties in the last year or so.

3)    Row-houses or bungalows: In comparison to residential or commercial properties, villas offer higher appreciation rates. They possess a large area of land per square foot. If it is a long-term investment, then row-houses/bungalows are the ideal option. They provide decent returns over time. Also, many builders and gated communities are launching row-houses and villas that are closer to the essential amenities of the city. Today, real estate companies like T Bhimjyani, Lodha Group, Kanakia, etc. have an NRI corner, answering all the queries immediately.

For smooth investment, NRIs should hold a valid passport, PAN card and appoint a Power of Attorney in case they are not present in India. NRI investment in real estate includes step-by-step procedure of registration, possession, and execution of the sale process. So, appoint a reliable Power of Attorney.

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Hunting for a luxurious abode in Thane? Here is why Neelkanth Woods Olivia is the ideal property

Investing in a real estate nowadays is a daunting task. It comes with comprising on either of the factors: price or the size of the flat/apartment. If the size is fine, the cost is exorbitant and vice versa. If both are in tangent with the buyer’s budget, the location is not that fascinating. The locality is also an important factor, especially concerning the connectivity to the main city, yet remaining close to nature. Today, home buyers can find all the mentioned factors in Mumbai’s new haven, Thane.

Why have real estate companies shifted their focus to Thane?

Thane, earlier known as a pollution-emitting city, has become an upscale retreat for the following reasons:

•    Thane has undergone epic make-over owing to the flyovers, railways connecting people to Mumbai, and huge malls and shopping centers
•    Renowned hospitals and educational institutions are at arms reach
•    Stay in posh areas such as Manpada and Ghodbunder road has become a comfortable affair, thanks to the plush amenities that the properties in these areas offer

One of the real estate company who provides all of the mentioned services at affordable rates is T Bhimjyani Realty. Their Neelkanth Woods project at Manpada is class-apart. Here is why:

1)    Nature and living spaces go hand-in-hand: Nestled away from the dusty Mumbai streets, is T Bhimjyani’s Neelkanth Woods Olivia. It offers spacious homes with options ranging from 2.5 BHK to 3 BHK to 3.5 BHK flats. It interplays nature and luxurious spaces. Every apartment is designed in such a manner where people can soak in the beauty of Yeoor Hills. Homeowners can dissipate their worries by soaking in the jacuzzi and sauna that the 3 BHK apartments offer. In the 3.5 BHK flats, one can sip a cuppa of coffee with the breath-taking visage of the city and hills.

2)    The perfect escape for families: Investors can find all kinds of amenities that one could find in a 5 or 7-star hotels here. In fact, there are hardly any residential projects that match the services that Neelkanth Woods at Manpada offers. Their common clubhouse is massive and has an array of services within in at perusal like table tennis room, spa, snooker room, squash court, gymnasium, and a multi-purpose hall with badminton court.

The other conveniences include a tennis court, common rainwater harvesting, audio-visual room, gymnasium and health facilities, disposal of sewage and sullage water, common mini basketball court, landscaping, and tree planting, and solid waste management and disposal.

3)    Proximity to the central city: The project is close to railway stations, bus stops and depots. Educational institutes like SVPM’s Sanskar Public School, Vasant Vihar School, and Lokpura Public School are very close. Thane’s age-old hospital, Bethany, is also nearer to Neelkanth Woods. Entertainment spots and shopping centers such as R Mall, Cinemax WonderMall and Viviana are just a few minutes away.

What are you waiting for? Book your dream house today!

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5 Tips Before Purchasing a Flat/Apartment in Thane

Thane, the city of lakes, has always remained an under-rated area in Mumbai. However, over the past decade or so, Thane has undergone a humongous transformation. The city has developed an urge amongst the high-end segment in India to purchase flats/apartments here. From the upscale residential projects in Thane to educational centres to hospitals to public transportation to essential amenities, everything has seen an uplift in Thane.

Thane maybe a prime spot to own a house today, however, there are certain tips homeowners should abide by before purchasing 1, 2, 2.5 BHK flats in Thane:

1)    Property price: Ascertain the budget and look for a property within that bracket. Some properties demand a considerable amount for the amenities they offer and the locality. Once the developer quotes a price, verify it with the neighbouring area’s properties. The property rates can be found in Thane’s supplement newspapers such as Maharashtra Times, Dainik Saamana, Navbharat Times and others, listed property portals and brokers in Thane.

2)    Builder-buyer agreement: The moment one books an apartment, they are provided a token amount. In return, the buyer receives an allotment letter. Then, the buyer, builder and the bank enter a three-party agreement to settle the remaining amount. This agreement is mostly in favour of the developer. So, the buyer should read the terms and conditions of the contract carefully. In case of any doubts, the buyer must clarify them at that point itself.

3)    Locality: Every buyer should thoroughly look around the area they will be eventually residing. This is crucial concerning the connectivity, malls, hospitals and other necessary facilities. For example, the Manpada area in Thane is in demand of late owing to the highway, Ghodbunder road, that connects to suburban Mumbai and the famous Viviana mall. One can find several 3 BHK flats in Manpada such as T Bhimjyani’s Neelkanth Woods or Neelkanth Greens, from where one gets access to the highway, best hospitals and entertainment.

4)    Flat possession: The possession of flat gets delayed, as the commercial and residential plan’s delay. Buyers should have a precise estimate of the timeline of the possession. Generally, developers ask for a grace period of 6 months. Nevertheless, builders must provide a valid explanation for the same.

5)    Hidden charges: Ensure to read all the documents and clauses carefully. Penalty levies on the builder if they do not provide the buyer with the apartment within the grace period. The buyer has to keep in mind the additional expenses such as GST, stamp duty, registration charges, home loan processing costs, and other charges before signing the agreement.
Buying a flat/apartment is a huge affair. Keep the tips mentioned above in mind before venturing into any residential projects in Thane.

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Shifting To Mumbai? 5 Best Localities That Home Buyers Should Consider

When it comes to metropolitan cities, two facts cannot be denied: unaffordable property market and dense population. Yet, the city of dreams, Mumbai, welcomes everyone with open arms. Mumbai has a place for everyone, irrespective of their social standing. Where one can find the costliest private property Antilla at a posh area like Worli, slums occupy a large part of the tinsel town.

No matter what you do, who you are, and how much you earn, every person can have a piece of Mumbai. Real estate companies have projects scattered across Mumbai, turning every home buyers’ dream a reality.

Following are the localities that every homeowner should consider:

1)    Andheri: Be it West or East, every income group can own a flat/apartment here. One can find the busiest local station in this locality. People can also enjoy class-apart metros, airports (domestic and international) and malls at proximity, wherever they are placed. It is also centrally located to two business hubs, Powai and Bandra-Kurla Complex (BKC). The real estate companies who are all set to launch their projects in Andheri are Oberoi Realty, Kanakia, Omkar Realty, Raheja, Lodha, Mahindra Lifespace and Pride Group.

2)    Thane: Once known as the pollution emission city, is today Mumbai’s top locality. Real estate companies in Mumbai like T Bhimjyani, Hiranandani Constructions, Godrej Properties, and Piramal Realty have realised Thane’s popularity and made luxury affordable. Its local station provides connectivity to Mumbai, as well as, the new suburbs. Plus, one can find the best educational centres, hospitals and malls, making every investment worth the penny. In fact, owning a flat in T Bhimjyani’s Neelkanth Woods is a matter of status symbol nowadays.

3)    Kharghar: Adjoining the Central Business District (CBD) in Belapur, facing the scenic hills and bound by two major highways is Kharghar in Navi Mumbai. It is primarily a residential township and home to several renowned educational institutions like NIFT, ITM and many others. The real estate investments in Kharghar is all set to take a new turn, thanks to the upcoming international airport in Panvel.

4)    Chembur: The real estate demand in Chembur has seen a rise in the recent past. Owing to the Eastern Express Highway that connects to South Mumbai and the Santacruz Chembur Link Road (SCLR) that takes people to BKC and airport quickly, real estate companies in Mumbai have recognised Chembur’s true potential. Many new home buyers are investing in this locality at an unprecedented pace.

5)    Wadala: It is an area snuggled between South Mumbai and the suburbs. This is one of the reasons that Wadala offers seamless connectivity through road and rail. Also, Wadala station is the first stop in the harbour line of the local trains. The monorail between Wadala and Chembur is an added attraction. Entertainment buffs can also enjoy high-quality movies at IMAX, making Wadala a ‘paisa-vasool’ investment.

Which area are you vouching for?

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