All Roads Lead to Thane

Why invest in Thane? Read on...

Driven by infrastructure, Thane's real estate sector is expected to swing into action. The building blocks - enhanced connectivity and city development initiatives, are key to the generation of buyer demand - although, you cannot dismiss the probability of its inclusion within the municipal corporation limits and residential affordability as also impertinent. We have summed up Thane's positives in the first quarter of the year 2016.

Connectivity
The Panvel- Bhimashankar- Chakan Highway connecting Mumbai to Karjat; Neral-Badlapur Highway connecting Karjal to Khopoli or Pune; Majiwada Junction Flyover giving smooth connectivity to commuters to Mumbai, Nashik and other areas are some drivers. Thane's Ghodbunder Road catering to both commercial and residential development and ensuring connectivity to Eastern and Western Express Highways in Mumbal has also been a determinant.

Infrastructure
The city's development drive includes upping its social infrastructure; upgrading water treatment plants; supply of potable water and underground drainage network. All these factors resultantly lead to impacting the real estate sector positively.

Other factors
Other influencing aspects of Thane such as home Loan affordabdity; availability of modern and good quality budding projects; Well -designed and efficiently planned spaces in the offering cumulatively compel everyone tu expect a growth- oriented 2016.

Property prices in Thane are slowly on the rise than its near peers but going formard due te rapid development, prices, may rise. A growing interest from the local workforce and investors in properties here might also push prices. The affordable housing segment of Thane can expect a facelift this year. Two developers' associations have signed a MoU to build 5.69 lakh affordable dwelling units across MMR. Despite the six percent increase in the ready reckoner rate, Thane's real estate experts are of the opinion that infrastructure will be a driving factor of the city's realty.

The affordable housing segment of Thane can expect a facelift this year. Two developers' associations have signed a MoU to build 5.69 lakh affordable dwelling units across MMR. Despite the six percent increase in the ready reckoner rate, Thane's real estate experts are of the opinion that infrastructure will be a driving factor of the city's realty.

To Buy Property in Thane or Know More about Builders and Developers Contact MCHI Thane at 022 2580 6868

Contact Us :

501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23
Telephone : (+91) 22 2580 6868
                     (+91) 22 2580 6865
E-mail: mchithane@gmail.com
              mchithanexpo@gmail.com

Facilitate the funding for your new residence

The importance of CIBIL score in a home loan application and ways to improve the same

CIBIL score is a numeric summary of one’s credit history and it helps the borrowers get their loan applications evaluated and approved. A good credit score is one of the most important eligibility criteria based on which a bank gives loan.

Indicator

The credit score is an indicator of one’s credit history. It reflects factors like record of late payments and defaults, loans and credit cards that are currently held, diligence towards paying loans and credit card bills, and number of loans and credit card applications submitted.

History

CIBIL scores are important when it comes to availing credit, especially loan approvals.
A CIBIL credit report contains all the details pertaining to the borrowing history and its repayment discipline. That is why, the banks and the financial institutions check the CIBIL score or credit score through CIBIL. It helps determine the creditworthiness of the borrower which in turn helps the borrower avail loans faster and easier.

Impression

The CIBIL score acts as the first impression for the lender, the higher the score, the better chances of the loan/credit card being approved. Hence it is extremely important to keep tabs on the credit score, especially if one is aiming for a loan anytime in future.

Ways to improve your credit score

There are various ways to improve the CIBIL score. All that you need to do is be conscious about a few things.

• The most important thing is to maintain a good credit history. Always pay your dues on time or before time. Late payments are viewed negatively by lenders.
• Keep your borrowings and credit requirements to a realistic level. One word is “Don’t stretch unless and until it is absolutely needed”. Take a loan only when you really need it. Check if the required amount can be raised from other sources.
• It is better to have a healthy mix of secured (such as home loan, auto loan) and unsecured loans (such as personal loan, credit cards). Too many unsecured loans may be viewed negatively.
• Don’t allow defaults on joint account payments and don’t guarantee someone who may default on their payments because such actions could be as damaging to your CIBIL Score as non-payment on any of your own accounts.
• If there are mistakes in your personal account or credit card records communicate with the bank immediately and make sure that these are corrected; else for no fault of yours, your credit score will suffer.

Purchase your CIBIL report from time to time to avoid unpleasant surprises in the form of a rejected loan application.

To Buy Property in Thane or Know More about Builders and Developers Contact MCHI Thane at 022 2580 6868

Contact Us :

501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23
Telephone : (+91) 22 2580 6868
                     (+91) 22 2580 6865
E-mail: mchithane@gmail.com
              mchithanexpo@gmail.com

Easily Increase your Home Loan Eligibility

You can easily increase your home loan eligibility by adding on a co-applicant

There are several instances where a person may miss out on a dream home because of a slightly lower income level, which denies them access to the necessary finance. But don’t worry; there are ways of getting around such problems. What you can do, is club the income of your spouse to increase the repayment capacity. In fact, the easy availability of home loans has clearly contributed to the growing trend of couples opting to buy their own flat at a much younger age. The actual home loan amount sanctioned by a lending institution is determined after taking into account factors like repayment capacity, age, educational qualifications, stability and continuity of income, number of dependents, co-applicant’s income, assets, liabilities, saving habits, etc.

Here’s how it works. If you have a monthly salary of Rs. 18,000 and decide to opt for a 15-year fixed rate home loan at an interest rate of 8.5%, calculated on annual rest basis, you would be eligible for a loan of about Rs. 8,07,000 with an EMI of Rs. 8,098. Add your spouse’s monthly salary Rs. 7,000 to the equation and your eligibility rises to Rs. 11,11,000!

Similarly, with just your own salary of Rs. 18,000, you could enhance your eligibility amount to Rs. 9,55,000 by opting for a 20-year tenure instead. However, clubbing your spouses Rs. 7,000 salary in your application would further enhance your eligibility to Rs. 12,93,000!

Having a co-applicant also helps to cope with another factor – rising home loan rates. Most of us know that an increase in home loan interest rates means having to pay a higher EMI. But were you aware that the rise affects your home loan eligibility as well? While this fact may not register immediately, it’s really quite simple when you consider it step by step. The interest home loan rate goes up; therefore, your total repayment amount also increases to that extent. And since the only thing in the equation that hasn’t gone up is your income, your repayment capacity, based on which they calculate the eligibility amount, comes down slightly.

Let us understand how this works with a hypothetical example. If you have a monthly salary of Rs. 18,000 and decide to opt for a 15-year fixed rate home loan at an interest rate of 8.5 %, calculated on annual rest basis, you would be eligible for a loan of about Rs. 8,07,000 with an EMI of Rs. 8,098.

However, if the interest rate increased by just 0.5 % to 9 %, your eligibility would reduce to Rs. 7,89,000 for the 15-year tenure loan, while the EMI would rise marginally to Rs. 8,157.

A joint application to buy property would probably enable you to maintain the same level of eligibility even if the home loan rate increases by a few basis points.

To Buy Property in Thane or Know More about Builders and Developers Contact MCHI Thane at 022 2580 6868

Contact Us :

501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23
Telephone : (+91) 22 2580 6868
                     (+91) 22 2580 6865
E-mail: mchithane@gmail.com
              mchithanexpo@gmail.com