Knowledge Centre Home Improvement

There has been a steady offtake in the affordable housing segment due to government’s various incentives and efforts to stimulate the industry. Our honourable Prime Minister Narendra Modi has given a kick-start to the real estate sector with the Pradhan Mantri Awas Yojana (PMAY) scheme.

The country’s 40 per cent population lives in cities and it is the responsibility of the government to uplift their standards of living. The country is estimated to have a shortage of nearly 20 million housing units needed by the rural and urban poor, at far lower price points of ₹5-15 lakh. Government of India is continuously working to ensure this dream come true for all home seekers in the country. To embark on their vision of Housing for All by 2022, Honourable Prime Minister Mr. Narendra Modi launched Pradhan Mantri Awas Yojana.

The country is estimated to have a shortage of nearly 20 million housing units needed by the rural and urban poor, at far lower price points of ₹5-15 lakh.
Government of India is continuously working to ensure this dream come true for all home seekers in the country. To embark on their vision of Housing for All by 2022, Honourable Prime Minister Mr. Narendra Modi launched Pradhan Mantri Awas Yojana.

Buying a home loan without financial planning is like shooting in the dark. You would end up feeling overwhelmed with all the expenses that you didn’t take into account, along with home loan EMI payments.
Proper financial planning will not only help you manage your expenses better, but also help you make your dream of buying a home, come true.
Here are 8 smart tips to help you plan your finances better, before opting for a home loan EMI.

Home additions such as kitchen expansions and additional bedrooms or even an additional floor all add square footage and value to a home. Expansion includes alteration in the current structure of the residence to add extra space such as constructing a new room, a floor, a bigger bathroom or enclosing a balcony. All this expansion can make your house more liveable and enhance the value of your home. Funding this extension can put a hole in your pocket as contractor fees, labor costs and materials and supplies comes at a price, but with a home loan to cover the expenses; home expansion becomes easy on your pocket.

When you avail a loan by keeping your property as collateral then it is called Loan Against Property (LAP). Now this property can be a commercial as well as residential property. LAP is the most secured term of the loan for the bank, as the guarantee is a property of the owner. This can be taken for the loan of educating the child, marriage, business start-up, any other personal reasons. Most favorably by the banks too as it can be a no loss deal for them.
This loan comes under secured loan as you give a guarantee of repayment using the property as the security. The amount of loan is decided based on the market value of your property.

Joint home loans is always beneficial as your loan amount increases and your burden is also decreases as it is shared with the co-owner. That best part about joint home loans is both the owners can claim tax benefits. But in order to claim the tax benefit on your joint home loan you need to fulfil these following criteria:

Thinking of buying your first home? Then you must be someone who may have spent countless hours researching online or discussing about it with your friends, family, co-workers, maid and even your cab driver. Now, before you feel overwhelmed, just pause. Breathe. And check out these 10 simple tips to help you breeze through the home-buying experience. You are welcome!

Home holds a very special please in our heart. It is not mere an address but it somewhere becomes the part of our identity. We all wish to have our own home and we start saving for it from an early age itself but with the sky rising prices of property, buying a home with our own funds becomes a herculean task.

Understanding how property taxes are calculated is often one of the most confusing challenges for homeowners. This is a tax, which is charged by the local government on real estate including land owned by you. The value of property forms the basis of this tax. Many local governments calculate the property or house tax not only based on the size of the property but its location, occupancy status, covered area and quality of construction.

Now for a non-resident Indians (NRI) it has become easier to buy a property in India, all thanks to new real estate rules. The Confederation of Real Estate Developers Association of India (CREDAI) regularly organises exhibitions for NRIs where it helps them scan different investment options and offer spot loans from top financial institutions. Factors like easy investment options and reduction in down payment value should play a vital role to attract you to invest in commercial property in India. Therefore, it is important that you check all the offers from CREDAI before you invest in real estate in India.