10Sep

5 Things an NRI should know before investing in Indian Real Estate

In the last few years, the Indian Government has relaxed many laws pertaining to NRI investment in real estate. These new laws have made it easier for NRIs or non-resident Indians to purchase property in their mother-land. This has resulted in the popularity of the foreign investment market. However, there are a few things that NRIs ought to be aware of before they consider investing in India’s real estate market. These pointers may give Indian passport holders residing abroad the confidence to purchase a property while ensuring they do not break any government laws.

Type of property that can be purchased: NRIs are allowed to purchase, both residential as well as commercial properties. There is also no restriction on the number of properties NRIs can own. However, they cannot purchase agricultural lands, plantations or farmhouse. The only case in which an NRI can own agricultural land is if he/she receives it as a gift or as part of his inheritance.

Number of investments: An NRI is allowed to make any number of investments as there are no restrictions. The investment can be made on their own or with the help of a relative appointed as a power of attorney. For instance, the NRI can hand over his power of attorney to a relative to purchase more than one under construction projects in Thane, Mumbai, Delhi, Kolkata or any other city or town within India.

Availability of loans: While resident citizens find it extremely easy to procure a home loan from Indian finance companies, the same benefit is also extended to NRIs. Yes, NRIs can now easily avail housing loans like any normal resident Indian. However, the documentation process for loans offered to NRIs is quite different as that for resident citizens. You can find out all the details about the documentation process on the NRI corner tab of the lender as well as the realtor’s website.

The need to file returns: Whether you are an NRI or a resident citizen, if your annual income exceeds ₹2,50,000, you are expected to file income tax returns. For instance, say you rent out your NRI investment in real estate home to a resident Indian and are earning over ₹3,00,000 in annual rental income, then you fall under the tax payer’s slab.

Tax benefits: If an NRI chooses to purchase a home in India, he/she is entitled to all the tax benefits which are made available to resident citizens. NRIs can claim an annual tax deduction of up to ₹1,00,000 as per Section 80C of the Income Tax Act of 1961. NRIs are only taxed for the income earned or collected in India through rental income or any other salary earned in India and not on their foreign earnings.

You can get all the details pertaining to NRI investment in real estate on the NRI corner tab of the real estate company’s website.

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2Sep

Top 4 Qualities To Look For In A Real Estate Company

For a lot of people, a house is the biggest investment they ever make. It takes them years of planning, a stable job that can fund the EMIs and a decent down payment amount before considering this enormous investment. As such, you need to ascertain and be convinced that you have picked a real estate company that has a good market reputation, so that you do not have to stress about our investment. If you are planning to buy a home soon, here are the top 4 qualities you must look for in real estate companies.

Choose a company that provides information transparently: The first thing to do is to select a company known for providing its clients with accurate information. It should be one which is up to date on policies and procedures and provides detailed manual enlisting answers to queries regarding your investment. E.g. the real estate company in Thane, T Bhimjyani Realty and others are known for providing specific details regarding the floor plan, size, taxes commissions and all other necessary information

The size of the office doesn’t matter: Many investors make the grave mistake of thinking that a smaller office means that the real estate company is not reliable and a bigger office means that you can trust it blindly. What truly matters for the investor is the company has achieved in its closed sales volume. You need to consider a company which is known for its successful projects completed. The Neelkanth Woods Project by T Bhimjyani is worth consideration.

Choosing a reputed brand is important: Like we mentioned before, the company’s reputation is of utmost importance. This typically depends upon its management and its sales force. It is important to consider a brand that has been in the business for a longer duration as it allows you to reflect upon the business’ legacy. For instance, if you opt to purchase real estate in Thane west, you should consider builders like T Bhimjyani Realty, Lodha Group, Piramal Group, Hiranandani Constructions etc., who have a formidable reputation of building reliable and sturdy commercial and residential projects in the area, that have withstood the test of time.

Choose a company that provides timely deliverance: People who purchase under construction properties are generally promised certain occupancy dates i.e. a specific time in the near future when they would be handed over their house keys so that they can move in, due to which the investor has to make other arrangements (e.g. rental properties) before he can move in to his home. If real estate companies have the reputation of not honouring their deliverables, it is best to steer clear of them as they can mess your budget and affect your financials. The builder must acquire timely approvals from the governing bodies, NOCs and other necessary documents and provide you a fixed date to move in.

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30Aug

4 Things To Do While Buying a New Property in Thane

Mumbai’s Thane neighbourhood has become like the new Bandra, Juhu or Colaba. Investors are putting in a lot of money in this Mumbai neighbourhood. With some already available fantastic amenities in place and better facilities in the piping (the thane metro, for example), the Thane real estate market has certainly become lucrative. It is no wonder that the affluent want a piece of this cake. So if you are considering purchasing a property for sale in Thane, you must ensure that you do the following things.

Begin by assessing your requirements: There are three things to assess when you start on the journey of purchasing your dream home. These include your realistic financial prospects and goals, your current lifestyle and your long-term planning. You want to find a place that is both, easy for you to commute to your work, as well as one that is child-friendly and close to educational institutions, if you have or are planning to have children in future. You also have to decide your budget and the amount of loan you may require.

Pay attention to the locality: Investors interested in purchasing homes in Thane will be pleased to know that the locality has been awarded as one of the promising cities in India by the First Smart Cities council. In your research, you will find that Thane has several posh localities which boast of good schools, shopping malls, entertainment centres etc. Buyers should select projects by reputed builders like Hiranandani Constructions, Godrej properties and Neelkanth Group also known as T Bhimyani Realty. The latter’s Neelkanth Woods Olivia project is ideal for people who love the spoils of nature.

Enquire about the past and current projects by the builders: When purchasing a home, it is necessary to enquire about the credentials of the realty companies. Selecting a company which has been in the real estate business with decades of experience, and is known for timely handover of flats is important. A renowned and experienced realtor is likely to have a good project delivery record. A developer like Neelkanth Realty, with a credible reputation and goodwill, can also help you with the finance process.

Review the project plan: While you can trust your realtor, you should also do your homework and ensure that you scrutinize the layout plans so that you get everything promised by the builder. Since Thane has become a hub for residential properties in the last few years, every builder offers a host of amenities that include things like yoga centres, club houses, swimming pools, children’s play areas, common halls and sports pavilions. However, you shouldn’t just get swayed by the amenities and check if they suit your needs. You can then consider purchasing flats for sale in Manpada, Ghodbunder Road, Majiwada and Thane West.

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2Jul

Buying a Flat in Thane – Pick One Of These Real Estate Companies

In India, everyone dreams of owning a home in a Mumbai city. Despite its relatively smaller homes and sky-high buildings, people aspire to purchase homes in Mumbai, knowing fully well that their investment will yield great returns sooner or later. After all, the real-estate rates in Mumbai are forever increasing. Yet, there is a suburb in Mumbai which is coming up with great residential projects at affordable rates. We’re talking about Thane. Smart investors looking to purchase a flat in Thane should choose from one of these four real estate companies.

Piramal Realty: The Piramal Group made its entry into the India real estate market in the 1990s with real estate projects in the retail and commercial sectors. It is only recently that this company began focusing on the residential sector and has already made a mark when it comes to providing architecturally innovative homes that suit the life-style of their customers. The USP of Piramal Realty is that unlike other projects in Mumbai, customers can get 1400 and 2000 sq. feet homes all with modern amenities.

T Bhimjyani Realty: Known particularly for their Neelkanth Woods Olivia project in Thane, T Bhimjyani is one of the most sought after realty companies in Thane. The realty giant is known for its affordable and spacious 2 and 3 BHK homes with 866 to 1261 square feet carpet area respectively, in high rise buildings. T Bhimjyani Realty has made a mark in real estate in Thane West. Aside from helping customers get financing from various banks, the company also provides world class amenities with its projects such as gymnasium, swimming pool, club house, a play area for children, and rain water harvesting.

Wadhwa Group: One of the premier real estate companies in Mumbai, Wadhwa Group has been in the real estate business for 5 decades and is known for its state of the art residential projects. The company is also associated with commercial and retail projects. Wadhwa group has constructed many residential projects in suburban and south Mumbai and is now focussing on Thane. Its flagship project in Thane’s Kapurbawdi area includes 2, 2.5., and 3 BHK flats starting at 697 sq. feet up-to 1600 sq. feet.

Shree Group of Companies: Having established themselves as one of the best realty companies in Mumbai’s metropolitan area, Shree Group has majorly developed residential projects and is known for using the highest quality materials in their buildings. The company has maintained its reputation consistently when it comes to providing all the modern amenities required by customers and has also been rated highly on the customer satisfaction scale. This real estate company in Thane and has launched a project for 2BHKs with a floor area of 970 sq. feet.

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25Jun

5 Great Reasons To Invest In Thane Properties

Once upon a time in Mumbai, there was an area that people neglected. The area was treated like an abused step-child because of its smoke inducing factories and industries. Then one day a group of wise men, known as realtors decided that this abused locality needed a face-lift. Like the fairy godmother in the Cinderella story, these real estate companies made people stand up and take notice of this Mumbai locality, known famously as Thane.  Yes, investing in a property for sale in Thane has now become a fashion. Find out why.

The prosperous legacy of Thane: Thane residential complexes offer great proximity, both to nature to the rapid infrastructural development. Realtors have spent days and years on end, revamping and enhancing this Mumbai locality since 2009. In just 5 years, the property rates in Thane have witnessed a 300% growth. Many offices have also shifted here which has resulted in newer employment opportunities. Thane is all set to generate even more capital appreciation in the real estate segment in the years to come.

Thane has caught the eye of realty giants: Realty giants, for years looked at Thane as an area with a great potential. Today, this Mumbai locality boasts of marvellous constructions by the best realtors in the business, from Godrej Properties to Neelkanth Realty and Piramal Realty to Lodha Group. Each of these real estate companies, have left their signatures in the Thane skyline. Besides, it is only in Thane that you can live in a residential complex with spectacular views of nature.

An optimum blend of commercial and residential complexes: With fewer employment opportunities, schools and hospitals, Thane residents used to waste several hours a day on the commute. But with Thane’s holistic growth and development in the last decade, the city has seen a rise in reputed schools, colleges, health care centres and shopping and entertainment hubs. Like the commercial complexes, posh residential complexes have emerged in areas like Ghodbunder Rd, Mapada and Thane west with investors especially purchasing flats for sale in Manpada.

Thane’s improved connectivity: You can connect to any part of urban and suburban Mumbai, as well as Navi Mumbai via JVLR, SCLR, Ghodbunder Road, Eastern Freeway, NH 8 etc. It is also connected to the Mumbai railway network through the Thane-Panvel Rail line and Central Harbour Rail Line. Furthermore, a metro line between Thane and Wadala is in the offing, which can reduce travel time by half. The MMRDA has many other plans for connectivity.

Thane is family centric: Thane is one locality where your entire family can live in comfort, without compromising on the quality of lifestyle. You can purchase spacious flats that can accommodate joint families comfortably, that too at reasonable prices. T Bhimjyani Realty also known as Neelkanth Group is credited with building the best family centric residential neighbourhoods in Thane.

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3Jun

Top 5 Real Estate Companies in Mumbai for your next home

Owning a home in a city like Mumbai is a distant dream for the average middle-class man.  It involves living frugally and saving vigorously for years, just so that one can afford a permanent roof over their head. With a little aid from bank loans, and the right guidance from established real estate companies in Mumbai, you too, can fulfil your dream of becoming a home owner in one of the many skyscrapers that stand tall in the city. If you’re ready to make this life-changing move, ensure you purchase your home from a reputed builder, such as the ones listed below.

Lodha Group: One of Mumbai’s most trusted names, Lodha Group has been in the real estate industry since 1980 and is well known for developing great residential complexes, one after the other. This Mumbai scion is credited with building towering skyscrapers from the north to the south and the west to the east in Mumbai with projects from Dombivali in Thane to Napean Sea Road in South Mumbai.

T Bhimjyani Realty: A Mumbai real-estate stalwart, T Bhimjyani Realty boasts of an experience of over 40 years in the industry and is one of the most trusted real estate companies in the city. T Bhimjyani Realty has made a name for itself as one of the premier real estate developers in Thane, with a knack for creating superior quality residential complexes, nestled in the middle of Thane’s green cover such as the Neelkanth Woods project. The real-estate giant has earned a reputation for delivering projects on time without compromising on the quality.

Godrej Properties Limited: An Indian Company that has made its name in almost all sectors of business, from FMCG products to consumer durables, Godrej Industries branched out and entered the real estate sector in 1990 with the establishment of Godrej Properties Limited. GPL was one of the first companies to obtain ISO certification, and has since developed more than 82 million square feet of properties across several prime locations in Mumbai.

Hiranandani Developers Pvt. Ltd: With an experience of over 4 decades in the real estate industry, Hiranandani Developers are known for being proficient in every aspect of real estate from education to health care and entertainment to hospitality. The company is synonymous among customers for their reliable, sturdy and excellent architecture that is clearly visible from their project in real estate in Thane West, East, Powai, and other areas of suburban and urban Mumbai.

MICL Group: MICL Group is part of the parent company Man Infra Construction Limited that was established more than half a century ago. The company branched out into the development sector in the last decade and has already made a mark with its excellent construction and delightful customer experience. This self-contained brand boasts of its own in-house construction workers and development experts, making it one of the best real-estate companies in Mumbai.

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6May

Renting a home in Thane – Consider these locations

Renting a home in a city like Mumbai is no easy task. It is a mammoth task to find a locality that has every necessary amenity. If you prefer to live in a locality that gives you quick access to amenities and world class infrastructure, while the rental rates are also lower, you should seriously consider Thane. If you’re looking for rental flats in Thane, here are the best localities to choose from.

Ghodbunder Road: One of Thane’s fastest developing stretches of land, Ghodbunder Road has witnessed rapid development in every sense. The real estate industry in Ghodbunder Road is certainly booming. In the past few years, some of the most reputed developers have come up with new projects in Thane Ghodbunder Road, which are especially ideal for people looking to raise a family. Besides this, Ghodbunder Road is strategically located, connecting Thane to the Western Express Highway. Whether it is a home you wish to own or live in rented spaces, Ghodbunder Road is an ideal location.

Average rent per month: ₹13,000 per month for 2BHK and ₹19,000 per month for 3BHK

Majiwada: One of Thane’s oldest localities, Majiwada is well connected to the suburbs and urban areas of Mumbai. The chances of getting stuck in the traffic are significantly diminished, thanks to the Eastern Express Highway which allows you to drive signal-free, straight into South Mumbai within a matter of minutes. The Thane railway station is also close to Majiwada, giving access to local trains. Thane station also serves as a halting point for several out-station trains. Most people opt to rent out 2BHKs in this area.

Average rent per month: ₹15,000-₹17,000 per month for 2BHK

Thane West: Thane west is home to up-market localities such as Manpada, Kasarvadavali, Azad Nagar, Anand Nagar and Dhokali. Real estate in Thane West has seen the rise of several new luxury projects undertaken by renowned builders such as Hiranandani Constructions, T Bhimjyani Realty, Godrej Properties and Piramal Realty among others. Thane west has truly become a hot-spot with infrastructure that is developing at the speed of light. Besides, the rents here are also quite low. If you are living in a joint family setting, you could always rent 2.5 bhk flats in Manpada.

Average rent per month: ₹10,000-₹15,000 per month for 2.5BHK

Vasai East: Perhaps the most affordable locality in suburban Mumbai, the Vasai region of Thane is as developed as its others counterparts. But in the recent years, the area has received a huge face-lift with more and more developers storming in with good residential projects. Today, Vasai East is recognized for its semi-urban infrastructure and is a smart investment option, although not at par with areas like Manpada, Ghodbunder Road and Majiwada. Yet renting a home here is exceptionally affordable.

Average rent per month: ₹4000 for 1BHK and -₹7,000 per month for 2.5BHK

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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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