Why Should You Buy a Home from A Reputed Real Estate Developer?

 

Buying a house is an important decision which involves looking at many factors. One of these factors is the brand you choose to buy a house from. The moment you start looking out for properties, you can first see what these reputed brands are offering. A reputed real estate developer can also serve as a measure of the value of the property. This developer has all the right credentials, permission for construction and also makes properties in accordance with the law.

Property sites in India are becoming expensive by the day. This makes it even more important to choose the right real estate developer to buy apartments suiting your needs. Here we share a few reasons why you should go for a reputed real estate developer to buy your first house.

1. Timely Completion
   After the RERA act, it has become the prime responsibility of the real estate developers in India to finish their projects on time. Reputed developers make sure that their customer receives the possession of their flats on time. This gives you the confidence that you will have the key to your house on time.


2. No Tampering with RERA Norms
   A reputed person will be the one who is registered under RERA and makes sure the buyers know about this. You should check this one factor before choosing any developer. Real estate business in India is now highly regulated after the introduction of the RERA norms. This means that the developer has to follow all the rules and charge you according to the RERA norms. There is no place for any foul play.


3. Modern Amenities
   Many reputed developers have built their brands on the kind of amenities their housing projects offer. These developers make sure that the luxury houses built by them have state of the art amenities. Amenities offered can be proper parking space, 24/7 security, clubhouse, swimming pool, jogging track, amphitheater etc. A reputable developer can easily gauge the needs of the homebuyer. This is reflected in their projects.


4. High ROI
   The brand you choose can work in your favor if you ever plan to sell or rent your property. These kinds of projects are usually in areas which are popular, have good connectivity and also a secure and upmarket neighborhood. Hence, this makes your return on investment a higher one.


5. Easy Home Loan Sanctions
   When you choose a reputed developer and then go to a bank to ask for a loan, then there are higher chances that your loan might get sanctioned. The banks have a certain amount of trust for reputed brands6. Security and buyers who invest in their properties.


6. Security
   A famous real estate developer will have good security features in their projects. If the home buyer does not feel safe about the property, then he/she will not choose to invest in it.

Investing in a house is also investing in a brand. Make it a priority to look for reputed brands to buy your first home. Ask around, check reviews online, contact the brands for more information, visit and see their properties for sale etc. these are a few things which can help you decide on which developer to invest in.

Source: indiabullsrealestate.com

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10 tips to find the Home of your dreams

 

Finding your dream home is a lot like finding the perfect partner. It might take a while, but when you find the one, you know you’ll always have the support of someone who just gets you. And when you find your dream home, you’ll always have the perfect place to unwind and make memories. Thankfully, finding the perfect home is a lot easier than finding the perfect partner. A bit of planning and some legwork can get you into the home that fits you. No blind dates needed!

1. Find your style
   While you might love craftsman homes or the sleek look of a modern kitchen in a penthouse apartment, you’ll be happiest if you consider what type of home will work best for you.
   
   Single-family homes offer more privacy and freedom, which can be great if you have kids or pets who need a yard to run around in. But single-family homes also mean more weekends full of maintenance projects. Condos often come with condo associations that handle a lot of the outside maintenance for you, but a condo might not have the green space you need for your family, and you’ll pay monthly dues to the association.


2. Do your homework
   You may know you want to live uptown, downtown or out in the country, but neighborhoods can vary greatly, even in the same area. To find your perfect fit, start by doing some research. Peruse online real estate listings to get an idea of the styles available in the area, check out a neighborhood’s walkability score and browse review sites like Yelp to see where you might get your late-night Chinese delivery fix.
   
   Take your research offline and visit areas in person too, especially if you’re relocating. Spending a weekend driving or walking around several areas can give you a real feel for the place you might call home one day.


3. Know your finances
   Before you start looking for homes, it helps to get pre-approved. It can be a daunting process for homebuyers, but it doesn’t have to be. Getting your finances in order first will make things go smoothly. Order your credit report and credit score to see where you stand (and where you can make improvements by correcting errors or paying your bills on time). Gather proof of income in the form of W2s and paystubs. Finally, tally the funds you have available for a down payment and closing costs.


4. Stay on budget
   Once you get pre-approved and know what you’re likely to qualify for, it can be tempting to start looking for homes at the top of your price range, but that doesn’t always make sense. Taking on a mortgage bigger than you can comfortably afford can quickly sour the feeling of true love for your new home.
   
   Instead, many experts recommend adopting the 28/36 rule. Under those guidelines, your monthly housing expenses should not exceed 28 percent of your gross monthly income, while all your monthly expenses — including housing costs, car payments or student loans — should not exceed 36 percent of your gross monthly income. Sticking to these guidelines can help make sure you can comfortably afford your home.


5. Plan for the future
   When you’re ready to look for homes, consider what works best for you now — and what will work best for you in the future. Ideally, you should plan on staying in your new home for the next five to seven years (or longer). Doing so can help you pay down the mortgage and build equity.
   
   For a house to be your perfect home, it will have to grow with you. If you’re planning on having kids, you may need an extra bedroom or two. Think you might start working remotely? You’ll want that home office. While you don’t want to overdo it and buy a five-bedroom home when you’re single, be sure to give yourself some room to grow.


6. See past the flaws
   Unless you get really lucky, the homes you view probably won’t have every single thing on your wish list. In fact, the house might have a few things you don’t like. But that doesn’t mean it can’t become your perfect home.
   
   The key is looking past the exterior cosmetic blemishes to the home’s bones. Linoleum floors, a shade of paint you hate in the bedroom, or some kitchen cabinets that need updating are all things you can upgrade to fit your style.
   
   So look for a well-built home that has the space you need, some features you love, a layout that serves your lifestyle and a price point that allows you to make some changes. With a little TLC, this will be the home you will grow to love.


7. Look — and look again
   Once you think you’ve found a home you want to make an offer on, take a second look. Both a home and a neighborhood can look completely different at different times of the day. For example, you might have viewed a home on a weekday morning when all was quiet only to find the neighborhood is too loud at night.
   
   To get a good idea of what you’re getting into, view the home at least twice, preferably at two different times of day — for example, on a weekday morning and then again on a weekend evening.


8. Get to know the neighborhood
   Finding a home you love is a top priority, but for the love affair to last for years, you’ll have to love the neighborhood too. While driving or walking around, ask yourself if the house is in an area that really fits your needs. Are you an avid outdoor enthusiast? You probably don’t want to be 40 miles from the nearest hiking and jogging trails.
   
   Do you rely on a wide variety of restaurants for quick takeout on weeknights? Look for restaurants that suit your taste buds and your lifestyle, ideally on your typical route between work and home.


9. Get a home inspection
   No matter what the condition of the home looks like, avoid any potential unpleasant surprises later and get a home inspection by a licensed home inspector. A good home inspector can tell you everything from the age of the roof to potential problems you might have with the water heater down the line.


10. Stay flexible
    In a relationship, the perfect partner you imagined might not be who you end up with — and that can be a good thing. The same goes for finding your perfect home. You may be in love with a certain type of architecture or having a big porch, but you don’t want to get too fixated on it and overlook the otherwise perfect house that’s missing that one particular feature. Stay flexible, be willing to compromise, and you’ll be sure to find your dream home.

Summing Up
Purchasing a property is a significant life decision that needs to be taken after lots of consideration and research. Whether one buys a property in an under-construction project or a ready-to-move one, the decision should fulfil all the requirements.

Source: opendoor.com

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Is Investing in Under-Construction Flats Beneficial?

 

Everyone wants a place that they can call their own, and they want it as soon as possible. But sometimes, the outcome of waiting for something so special, like a dream house, can be a feeling of unmatched fulfilment.

Under-construction flats are such options for investors and buyers. These types of properties are becoming the first preference of many investors and buyers who can wait for some time to get ownership.

But the question is, ‘Is buying under-construction property beneficial in the long term?’ The below articles shall discuss this in detail.

Advantages of Investing in an Under-Construction Flat

When making a purchase decision, home buyers typically have a certain checklist – the size of the flat, preferred locality, budget, builder’s reputation, ease of purchase and the urgency of ownership. For buyers willing to wait to get possession, an under-construction property can be the ideal choice.

1. A Fair Deal
   The rising price of real estate is known to every investor and buyer, and if they are planning to buy a ready-to-move property, then the prices are typically higher. However, in the case of an under-construction apartment, investors or buyers can crack a fair deal.
   
   Often, real estate builders offer great deals on under-construction flats in order to attract more buyers. It is excellent for investors and buyers who want to get a property at a compelling price range.


2. Adjustable Payment Options
   With under-construction flats, investors and buyers get flexible payment options. They can pay a part of the total price of the property at the beginning and make the rest of the payments throughout the construction process of the property.
   
   But that is not the case in Ready To Move In (RTMI) properties. Usually, this flexibility is not available for fully constructed properties, and the buyer must pay the complete transaction amount within a short period.
   
   Under-construction flats are also an excellent option for buyers with budget constraints or who are short of funds to outright purchase RTMIs.


3. Discounts and Deals
   Other than flexibility in payment options, the builders of under-construction flats provide several discounts and schemes to investors and buyers. As the property is still under construction, builders provide schemes such as receiving X% per cent discount on Y amount of prepayment, gold coins, free home appliances, etc.
   
   However, in ready-to-move properties, the final price includes all the costs and service prices. Thus, builders usually do not offer any lucrative deals.


4. Great Return on Investment
   Most property buyers choose to buy real estate as an investment. Buying an under-construction building is an ideal choice for these buyers. These properties are often sold at lower prices than their after-constructed price, which means investors can expect a significant rise in the rates of the property even before the flat is completely ready.


5. Futuristic Designs
   Under-construction buildings are built to sustain in future too. Thus, their overall construction planning and execution are done to build a future-friendly home for the buyers. Such as including amenities and features that already constructed properties might not include.


6. Customer Customisations
   A buyer always aspires to have customised interiors in their homes. Several property builders provide the option of customisation of their under-construction properties, for example, marbles of customers’ choice, painting the walls differently or making wardrobes according to buyers’ needs etc. But no such choice is given to buyers in the ready-to-move-in homes.


7. Less Cost of Maintenance
   As mentioned earlier, an under-construction building is made keeping all the aspects of construction in mind. It means when the buyers are ready to move into their homes, they do not have concerns regarding the regular maintenance.


8. Tax Benefits
   With under-construction property, buyers and investors can avail of several tax deductions and waivers. Such as 2 lakh rupees of waiver per financial year under Section 24 B under the Income Tax Act 1961 for buying an under-construction property.
   
   Additionally, buyers can also get deductions on interests of loans taken for property and there are other deductions under Section 80C of Income Tax.

Summing Up
Purchasing a property is a significant life decision that needs to be taken after lots of consideration and research. Whether one buys a property in an under-construction project or a ready-to-move one, the decision should fulfil all the requirements.

Source: investopedia.com

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Guide for Thane Commercial Real Estate Investment

 

Thane is one of the fastest-developing cities in Maharashtra. Its proximity to Mumbai makes it a populated area, which, in turn, makes it an attractive commercial space for investment.

In 2015, Thane was one of the first 100 cities in India to implement the Smart City Mission. Consequently, Tata Consultancy Services has set up its largest office in Thane with 30,000 employees.

Additionally, there are numerous ongoing projects under the Thane City Centre Rejuvenation, such as implementing multi-modal transport, intelligent transport systems, etc.

Rapid infrastructure development and easy connectivity to Mumbai and Navi Mumbai have made Thane a critical real estate hotspot of the Mumbai Metropolitan Region (MMR).

Let’s see how investing in Thane’s commercial space can benefit you.

Top Reasons to Invest in Thane Real Estate Thane is quickly developing into a profitable commercial sector for the following reasons:

• Increasing Connectivity
  Proximity to Mumbai is one of the best features of Thane. Ghodbunder Road, JVLR, Eastern Highway, NH8 and SCLR connect Thane with Navi Mumbai and other parts of Mumbai. The cost of living in Mumbai is skyrocketing; hence, commuting from Thane is a sustainable option for working individuals in Mumbai.
  
  It anticipates that the forthcoming metro project in Thane would cut the distance to Mumbai in half. It saves a significant amount of time for daily commuters. In addition, it will significantly boost Thane’s commercial real estate sector.


• Industrial Hub
  Thane is a central industrial hub in the country and is the third most industrialised city in Maharashtra. With a significant belt of over 18000 industries in the town, it is a hotspot for employment. Hence, investing in commercial properties in Thane can be a profitable opportunity.


• Logistics Hub
  The logistics and warehousing industry is booming in Thane. With optimistic future expectations, it will soon become the busiest logistics hub in India. Hence, it is a prime time to invest in commercial real estate in this city to profit from the warehousing sector.


• Passive Income Stream
  Thane, famous for warehousing and industrial sectors, offers an ideal business space for rental income. Passive income from rental estates has negligible risks and generates high income without much active effort.


• High Return on Investment
  Generally, returns from commercial properties are very high as these spaces are in demand. Moreover, the tenants offer appreciation to hold on to the spaces in the long run. In addition, Thane is a developing region, so the returns are bound to multiply in the coming years.

Things to Consider Before Buying a Commercial Property in Thane
The objective of commercial real estate is to earn profits; hence, it is vital to check a few factors before investing in Thane.

• Lease and Investment
  It is essential to check the value of a property and judge if it is a profitable investment for you. Because the return on investment highly depends on the scale of investment, and thus it is crucial to understand the correct value. Besides, it is also essential to understand the lease structure thoroughly and avoid unforeseen complications in the future.


• Area Infrastructure
  Developing a modern property equipped with high-end amenities is not enough to generate high income and attract a heavy crowd. The infrastructure of your surrounding area plays a crucial role in your commercial profit. Therefore, proper access to modern infrastructure is a significant factor.


• RERA Verification
  Buying a property that adheres to all rules and regulations is essential. All properties and builders in India must adhere to the norms established by the Real Estate Regulatory Authority (RERA).
  

  Source: wintwealth.com

  
  

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  It is of utmost importance to verify the registration of the property and the builder through the RERA Maharashtra (popularly known as MahaRERA) portal


• Transport Network and Location
  When investing in Thane real estate, it is paramount to check the transport network in the area. Because connectivity to airports, railway stations, etc., ensures high returns from commercial investments. Understanding the location and future aspects is essential to analyse your investment’s appreciation.

Understanding the Role of a Real Estate Developer in Today’s Market

 

A real estate developer is part of a complex business that involves a wide range of processes, from sourcing land to designing plans, obtaining permits, financing, building, and eventually selling or leasing a property. At the center of this intricate system are real estate developers – the visionary minds behind creating, building, and managing real estate projects. In this blog post, we’ll take a deep dive into how real estate developers work. We’ll explore what they do, how they do it, and why they matter in today’s dynamic real estate industry.

The Creative Mindset
Real estate development starts with an idea – an innovative concept that responds to the needs, preferences, and trends of the local market. Real estate developers are responsible for coming up with these ideas by researching and analyzing demographic data, market trends, zoning laws, and other factors that impact the feasibility of a project. They use their creativity, instincts, and experience to come up with solutions that address the challenges of a particular site or location. This requires a deep understanding of what potential tenants or buyers want, as well as an ability to think outside the box.

The Project Management Expert
Once a developer has a vision for a project, they need to assemble a team of professionals who can help turn that vision into a reality. This includes architects, engineers, contractors, and other specialists who bring their expertise to the table. Real estate developers are responsible for managing the project from start to finish, ensuring that each stage is completed on time, within budget, and according to specifications. They must also ensure that the project meets all regulatory requirements and obtains the necessary permits and approvals.

The Financing Specialist
Real estate development requires significant capital, so developers need to have a deep understanding of financing options and strategies. They must be able to secure funding from lenders, investors, and other sources to cover the costs of the project. This requires a thorough knowledge of real estate finance, accounting, and tax laws, as well as an ability to negotiate favorable terms and manage risks effectively.

The Marketing and Sales Guru
A real estate project is only successful if it is marketed and sold effectively. Real estate developers are responsible for creating a strategic marketing plan that targets the right buyers and tenants and positions the project in the most appealing way possible. They must also be skilled at negotiating lease or sale agreements and closing deals that result in profitable returns on investment. This requires a strong understanding of real estate sales and marketing, as well as excellent communication and negotiation skills.

The Visionary and Planner
Finally, real estate developers are visionaries and planners who are committed to creating long-term value in the communities where they build. They must be able to anticipate future trends and needs, and design projects that respond to them while maintaining a high level of quality and sustainability. They must also be committed to enhancing the local community and creating spaces that are both functional and beautiful.

Source: southcoastimprovement.com

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Why Are Real Estate Properties in Thane Booming?

 

Those who live in Mumbai or who travel to the city can vouch for the constant evolution, the state of flux, and the phenomenal development that has taken place over the years. Nothing, however, comes close to the growth of Thane. From a quaint suburb that attracted industries and offered residential space for employees, Thane has grown into a dynamic and vibrant part of the Mumbai Metropolitan Region and one of the most sought-after residential markets in the state. Thane is all set to be the smart city that changes the way people in MMR live, and supporting this change is the Thane Municipal Corporation, with a host of digital and infrastructural programs. So it is no wonder young Mumbaikars are looking to buy into the real estate scenario here, and seasoned investors are keener than ever to be a part of the Thane growth story.

1. Connectivity Matters
   The one cardinal rule of living in Mumbai is connectivity, which is the secret of Thane's phenomenal growth. Apart from the extensive bus and train network that connects Thane to the rest of Mumbai, the expansion of the metro circuit comes as good news to those who commute through the Wadala-Ghodbunder Road and Thane - Bhiwandi stretch. NH-8, Ghodbunder Road, and Mumbai-Nashik Highway are some arterial roads connecting Thane with other Mumbai localities. The excellent connectivity of Thane to the upcoming Navi Mumbai airport and to the heart of Mumbai itself makes for convenient and quick intra-city movement.


2. Suburbanisation Factor
   Thane has always had a high concentration of industries, but the recent trend of suburbanisation has tipped the scales firmly in favour of Thane. With major IT companies like TCS and Capgemini relocating to this micro market in favour of larger spaces and better facilities, Thane's residential market, too, has received a boost. The Wagle Industrial Area, Odyssey IT Park, and a number of IT parks and business centres have opened up in Thane attracting more satellite offices of corporations.


3. Choosing a Lifestyle
   Mumbai is hip and happening, but so is Thane without the congestion and pollution. The large waterbodies, parks, and the proximity to the Sanjay Gandhi National Park make for better air quality, a cleaner, greener environment, and certainly a better lifestyle. With property prices being more affordable than SoBo, homeowners can look at owning larger homes in projects that offer health and fitness facilities and smart homes.


4. Social Equity
   Swanky restaurants and entertainment centres, upscale malls, cafes, and clubs – you name it, and Thane has it. Fortis, Jupiter Hospital, SRV Mamta Hospital, Vedanta Hospital, and Apollo have all set up expansive campuses in Thane, offering the best medical facilities. The spurt of world-class colleges and schools has made this micro market very attractive for home buyers.


5. Focus Developers
   Despite the boost in demand, industry experts believe that the Thane real estate story is still at a very nascent stage. The greatest advantage for investors comes from the fact that the projects in Thane are made to suit every budget. You can take your pick from simple 2BHK real estate property in Thane to luxury apartments. The asset appreciation in both cases is expected to be very attractive.

Source: blox.xyz

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Financial Planning For Buying A House In 2024 (Expert’s Advice)

 

Why Right Financial Planning For Buying A House Is A Must?

64% of the population in India was seeking to buy a house in India in 2020. And in the next year, it reached 82%.
If you are also one of them then you are at the right place now. Because inappropriate financial planning for buying a house in India may make you regret it in the future.
If you feel like you have already missed the opportunity then you need to know this fact:

“Between 2023-2028, the Indian real estate market is expected to have a (CAGR) growth rate of 9.2% as per the report”

However, the real estate industry has already hinted with the dramatic changes in the past few years. Eco-friendly development, gated communities, landscape planning, addition of facilities, tax benefits, lower mortgage rates, etc. are some of the latest developments in the real estate sector. So, now is the right time to buy a house with the best financial planning to effortlessly manage the necessary factors.

5 Advice For Financial Planning For Buying A House

Considering the affordable options, doing complete research, knowing your home loan eligibility, ways to save money, other costs, etc. are a few of the advice for financial planning to buy a house.

• Affordability: What Is Your Budget?
  Begin your financial planning for buying a house in India by considering how much you are able to afford.
  To know that you need to sort out the following factors:


• Income
  Consider your monthly income at first.


• Expenses
  List out your monthly expenses like housing, transportation, food, debt, etc.


• Savings
  Check the money you have saved for down payments & unexpected expenses.


• Clarification
  By understanding all the above factors, you can easily calculate the amount to afford for spending on a home.


• 30% Thumb Rule
  Try not to spend more than 30% of your monthly income on the housing costs like property taxes, EMI, homeowners insurance, etc.

Research: Start Searching The House Over knowing your affordability, you can start researching the latest housing market. Begin with considering the prices of houses in other cities & states, and analyze the trend there. While doing so, don’t miss out on the location, size & features of the house because these are the factors that mostly influence the price appreciation in the future.

Financial Support: Know The Home Loan Eligibility Once you find a house that is similar to your preferences then it’s time for you to know your eligibility for a home loan. If you are a salaried individual or in the past few months or years, you are banking with a selective bank then there is a chance of being pre-approved for a home loan. Typically, this lets you know the money you can possibly borrow & what is the monthly payment structure. And this will make your house-buying process effortless.

Savings: Through Monthly Down Payment Once you are planning for buying a house through a home loan then finding a possibility of saving through a down payment is a must.

Higher your down payment amount, lower the monthly EMI would be If you can save a small amount of money each month then it will reach an appreciable amount in the future. Out of multiple ways of saving a down payment, you can opt for creating a fixed deposit account, initiating a recurring deposit monthly & short-term fund investment.

Costs: Other Than Buying A House Other than the house purchasing amount, there are multiple other costs included such as home insurance, property taxes & maintenance. So, it is necessary to consider the following costs in the budget.

Tips: For The Middle-Class Group Of India Being under a middle-class section of people, you have to strategically plan the financial & practical aspects of buying a house in India.

To help you with this, we have listed the tips below to help you buy a desired home

• Choose Tier 2 & Tier 3 cities because the cost of living is comparatively lower here. You can also able to buy a large home for your estimated money.
• Choose a house that is currently in good condition. It shouldn’t require multiple repair works. This helps to save money in the future.
• Prefer buying a house that has a smaller land plot. Because it will help you to save property tax & maintenance costs.
• Buy a house where you want to live in for a longer period.
• Buying a house is one of the best ways of building wealth & security.

3 Precautions : Don’t Miss Out On This

1. Always Search For Grade A Developer Choose Grade A developers – Why? This makes you rest assured that the house you planning to buy is legal & it is constructed to achieve the highest quality standards. Grade A developers in India have access to selective expertise & they always prefer to collaborate with the best ones in the industry. The developer also offers a better customer experience, information at the fingertips, helps through loans & registrations, etc.

2. Don’t Ignore Your Preference For House Make sure that you don’t underestimate your preferences in the search for affordability. Buying a house is a kind of long-term investment, so choosing the right one with consideration of all your preferences & affordability is a must. Real estate market is so diverse, so not even finding a house that doesn’t match your preferences is impossible. So, try to explore the latest real estate trends across the states in India. For ex. start with properties in Mumbai, Bangalore, Chennai, etc. because the following states have shown a better price appreciation YoY.

3. Don’t Be Too Hurry To Buy A House With a multitude of housing options available, finding the right one can be daunting. However, rushing into a decision often leads to subpar living conditions due to a lack of consideration. To ensure a quality home purchase, take time to research reputable developers and maintain a checklist of essential features. This includes outdoor space for children to play and desirable amenities.

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