7Jun

The NRI’s guide-book for property Investment

Most Non Resident Indians (NRIs) hear stories from friends and family in India who’ve made tremendous profits in the real estate industry. This makes them deliberate using their savings in foreign currencies to purchase real estate in their home country. But most of them are not familiar with the rules and regulations of real estate investments, which let’s face, it can be pretty complex. Since NRI property investment in India is extremely lucrative, we’ve listed out some points that can facilitate your decision to invest in the sector.

Why should NRIs invest in Indian real estate?

In the recent years, investors have earned over 20% annual returns in the Indian real estate industry. Real estate investments help grow your corpus rapidly, if invested in localities with high-growth potential. The growth in India’s, particularly Mumbai’s urban areas, coupled with the influx of people from different parts of the country has paved the way for Mumbai to emerge as one the largest contributors to world economy. Mumbai’s Thane area particularly, is seen as a profitable site for real estate development with several state-of-the-art residential and commercial complexes being planned. Investing in new residential projects in Thane can prove extremely fruitful and yield great returns for NRI investors, since they are in a unique position to take advantage of this situation.

What are the best places in India for NRIs to purchase property?

Suffice to say that not all property markets yield equal returns. NRIs must examine the nitty-gritties of the market in which they wish to invest. A good rule of thumb is to invest in cities that have a fast population growth with continual influx of people. Also, investing in cities where people make the highest incomes, but the property prices are such that an average middle-class man can afford, is a safe bet. Investing in the countries metro cities like Delhi, Chennai, Kolkata and Mumbai can be intimidating. If you still wish to invest in Mumbai, you should consider putting your money into an area like Thane, which is witnessing a big boom in terms of its real estate. If you must invest in Mumbai, then new projects in Thane Ghorbunder Road and other popular areas in Thane is a great option. NRIs looking for high potential property investments should consider investing in Thane and other new-economy cities like Bangalore, Hyderabad and Pune.

How should NRIs go about with the investment?

After doing your due diligence and thorough research, NRIs can finalize a residential or commercial project they wish to invest in. It is recommended that you select a project being constructed by a reputed real estate company with years of experience. Some of the best real estate companies in India include Godrej Properties, Oberoi Realty, T Bhimjyani Realty, Lodha Group and Prestige Group. You can visit the NRI corner on the website of these real estate companies or speak to them on their helpline number for guided instructions.

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28Feb

The Advantages of Buying an Under Construction Project

Buying your own home is at once, the most exciting and the most anxiety-inducing experience. As the experience begins, you realize that there are so many factors to consider, that you may not have thought of. One question that baffles most ‘first-time property owners’ is whether to purchase a property that is under construction or to opt for a ready-to-move-in home. You have to think about the location you’d prefer, whether the neighbourhood is viable, and about the space that your family would need among several other things. If you’re considering purchasing a home in Mumbai, might we suggest you take in account the Thane locality? There are several under construction projects in Thane that will help potential home-owners find their dream home.

Under-Construction v/s ready-to-move-in apartments

Most first time owners are averse to purchasing pre-owned homes. Factors such as the age of the building, its condition or its market rates, may serve as a hindrance. Furthermore, the pros of purchasing an under-construction property; out-weight those of opting for a ready-to-move in property. There are several advantages associated with investing in new projects in Thane and around. One of the greatest benefits is that it is affordable as compared to ready-to-move-in apartments. Apart from this, you as a buyer can design and customise the unit as you want. Other than this, when you invest in an under-construction project, you do not have to think much about repairs for years.

Know the benefits in detail:

Better and wider choices

New residential projects in Thane, offer you have a host of options to choose from, since the locality is known for establishing one spectacular project after another. You can visit several sites to get an idea of the project under construction before you finalize a property. You will find the market is flooded with new and upcoming projects from top builders like T Bhimjyani Realty, Lodha Group, Piramal Realty etc. You can choose the site that best meets your requirements and preferences. Apart from this, you can even choose the floor and the apartment per your preferences.

Make payments with ease

Another benefit of investing in an under-construction project is that you can make the payment with complete ease. As it is under construction, there is no hurry to pay the whole amount at one go. A lot of builders and real estate companies tend to ask their clients to deposit the money in phases. The maximum amount needs to be deposited at the time of possession.

How to choose an under-construction property?

•    Do a thorough background check of the builder before signing on the dotted line
•    Ensure the builder has a clean record in delivering projects.
•    Examine the paperwork and ask questions if you have any.

Now that you are aware of the benefits of investing in an under-construction projects what will you choose?

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24Jan

5 tips to Maximize Gains on an Under-Construction Properties

In this day and age of 7 digit monthly pay-packages and low rates of interest on home loans, it has become easier to fulfill the dream of becoming a home owner. And if want to purchase a home in Mumbai with a spacious bedrooms, higher floors with spectacular garden views and beautiful patios, you can consider the new residential projects in Thane. You may be tempted to invest into a property if the realtor is offering lucrative schemes and additional discounts and might want to make the most of the opportunity. But the smart thing to do is to purchase a property that is under construction as opposed to one which is ready. The under construction projects in Thane are a fantastic option that you can consider. When you buy such a property you must consider the aspects that can help maximize gains on your under-construction property. Here’s what you should do.

Begin by asking the right questions

Before taking out a huge loan, you need to ask yourself if you have any other investments and the average return you are getting on them. Also ask yourself why you choose an under-construction property that can take a couple of years before it is ready for occupation. Consider the loan amount viz a viz other monthly expenses and see if it is worth it.

Make your negotiations clear at the very beginning

The first step is to negotiate a deal with the builder or the real estate company on the premium and floor-rise facing rates. If possible, you may even strike a bargain. If this aspect does not work, you might want to consider coming down 4/5 floors in order to save some lacs. This works great when you decide to sell your apartment in the later years.

Research about lenders who’ve approved the property

Do not forget to check which lenders have approved the property, especially the apartment and floor that you have chosen. Approach the banker or mortgage advisor directly instead of asking the builder as he may not necessarily have accurate knowledge of the status. Your payment may get stuck if your property is not approved.

Ensure that the CC for the floor you choose is received

New residential projects in Thane are known for high-rise floors.  You will also have to check if Commencement Certificate or CC has been received on the tower, phase and floor. You should know that banks or financial institutions do not disburse loans if the CC is not in place.

Opt for restructured payment schedules as opposed to a standard one

You can consider restructuring your payment schedule instead of sticking to a standard one. Always consider a schedule that meets your requirements. This further helps in avoiding any interest-bearing borrowings like loans from parents, banks and relatives.

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26Nov

Thane Real Estate Market: An overview

Every individual wants to own an apartment in Mumbai. However, the increasing rates of the properties only make it difficult. This is where Thane comes into the picture. Thane is slowly emerging out to be a major residential location, all thanks to several new projects in Thane. This has further risen the investment opportunities for the potential homebuyers and investors.

Thane needs no introduction for it has established itself with apartments at affordable rates possible. Besides. Thane is also a major commercial location. It is home to some of the top companies thus making it easier for the locals. Being a well-known suburban district of Mumbai, Thane is closely location of Kalyan, Navi Mumbai, Bhiwandi, Badlapur and so on. It is a beautiful city in itself. Thane has over the years witnessed a great development as far as real estate is concerned. Widely divided into Western and Eastern halves, Thane serves as a perfect platform for potential investors and homebuyers looking for affordable homes.

Taking advantage of this situation are the builders and developers who offer reasonably priced new residential projects in Thane. With the increasing number of new residential projects, it becomes quite easier for homebuyers to find the right apartment. Though reasonably priced, the apartments offered to come with state-of-the-art and modern amenities. In all, it is a win-win situation for buyers can make the most of the new construction in Thane. Even if you do not wish to shift your base to Thane, you can invest in its properties. You should know, keeping in mind the increasing popularity, the real estate rates are bound to increase than come down.

If you as a buyer looking for advantages to invest in Thane, then you should know, it has amazing connectivity solutions. Located close to the Eastern Highway, it promises smooth connectivity. Besides, there are also a number of other roads such as Mulund-Bridge road, Mumbai Highway and Saket Kalwa Road that lies close to it. Besides, there are BEST buses to solve your transport problems.

Apart from this, Thane is home to some of the top schools, entertainment and shopping centres. All these aspects are what every buyer tends to look into before investing in any location. Besides, there are new and under construction projects in Thane coming up, which also makes finding the right apartment easy and hassle-free.

Make the most of this situation by getting in touch with a reputable developer to find the right apartment that meets your needs.

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31Oct

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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18Sep

4 Tips for Safe Investment on Under Construction Projects

Buying a home is quite a lengthy process. It requires a lot of research, consideration of budget, amenities and more. In short, it is a big step and requires a lot of preparation. When talking about buying a house, a lot of homebuyers tend to get confused between ready-to-move-in the house or under construction. Both of them offers pros and cons. Well, it is under construction properties that attract a lot of homebuyers for end number of reasons. However, you should also know that it is quite a risky affair for there might be a delay in possession and more.

Considering this factor, here are some aspects you need to keep in mind when planning to invest in under construction projects in Thane and around:

1. Bank Approval

When it comes to buying a house, a lot of buyers tend to rely on home loans for the purchase. In such a case, it is of paramount importance to know the project has received approval from the bank. This further makes the whole process of availing and applying for loans easy and hassle-free.

2. Check the Legal Status

You cannot just rely on the under or new construction in Thane and around just because it is reputable. As a potential homebuyer, it is your duty to do a complete background check as far as the legal status of the property is concerned. You can ask the builder for the legal status of the construction, just to be sure. Ensure the ownership of the property. Apart from this, also ask for the legal report on the construction to ensure it is on paper.

3. Payment of Booking Amount

This is one aspect you should not neglect on. Now that you have paid the booking amount ensure you ask for the receipt. There is every possibility the developer is fraud and to avoid misuse of your money, ask for a receipt. Do not forget to ask for an allotment letter which has all the details about the property and the money.

4. Get the Possession Letter

Always remember that the purchased house is not yours unless you get the possession letter. Once the construction of the property is completed, you are advised to ask for a possession letter from the constructor or real estate company.

All these aspects are well taken care of by reliable and reputable real estate companies offering new residential projects in Thane and around. Besides, ask your builder for building plan, commencement certificate, layout duly approved by the authority, development and sale agreement and so on.

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