Tips to check your home loan eligibility. Buying a home is no longer a distant dream for many.
Nowadays, a majority of financial institutions and banks have started increasing their focus on home loans, resulting in huge expansion of the home loan market. However, these institutions still adopt a thorough process for assessing the loan eligibility of an individual, which is directly tied to the amount of home loan they are willing to disburse. In this article, we will discuss the various factors that need to be taken into account for determining your home loan eligibility. Stability of Income. 5 Things to Consider Before Cancelling Flat Booking. You are bound to remember the day you book your flat for the rest of your life.
It is the day you go one step closer to owning your own home. But there is a possibility that you might have to cancel the booking for one reason or another. Unfortunately, not many people are familiar with what cancellation entails and because of this, might fall prey to builders who exploit this ignorance. Below you will find a list of issues you must be aware of before proceeding with cancelling your flat booking: 1. 6 Things to Know About Rental Agreements. A rental agreement is an extremely valuable document that enumerates the terms and conditions of leasing a property.
It safeguards the interests of both the landlord and the tenant, and therefore must be closely scrutinized by both parties. If you’re a tenant about to move into a rented home, keep the following things in mind before signing the rental agreement: 1. Which is better: Buying or renting a house. It is always advisable to purchase a house if you have long term plans to live in it.
You must have heard the rhetoric of sellers, “The same money that you spend every month on rent would constitute an equated monthly installment towards the loan you take. What you pay as rent is an expense that goes in the pocket of the landlord, but your EMI is an investment that will, one day, make you the owner of this house. Why should we pay property tax on time? So goes the refrain of every irresponsible citizen in India, “The government does nothing!
Why should we pay taxes?” The argument raised is, why would a municipal corporation get into a fund crunch? They get grants from the central or state governments. Here, we see a case of passing the buck, when the municipality belongs to a different political party. The recent crisis in Delhi wherein work was struck due to non-payment of wages, and the city became a garbage dump, is a case in point. Know everything about REITs. A real estate investment trust(REIT) is a company in which ownership of real estate has been split into various units, enabling retail investors to participate.Like MFs, REITs collect money and issue units in exchange.
Like stocks, investors are able to buy units from both primary and secondary markets. REITs offer two types of income: capital gains (upon selling units on exchanges) and dividends. Comparison with private equity funds Most of the existing sets of real estate funds in India target capital appreciation while REITs promise regular annual income. Be Prepared Before Taking A Home Loan. Buying a home is a dream that everyone cherishes and home loans are the magic wand that can make the dream a reality.
These days, not only is it feasible to get a home loan, but because of intense competition in the lending market, you will have a wide variety of options to choose from. However, this doesn’t mean that getting a home loan is a walk in the park; here are a few things to keep in mind while taking a home loan: 1. Do your research Banks are always trying to attract customers with lucrative schemes and low interest rates. Here is what Real Estate Bill has to offer! After nearly 3 years of being stuck in parliamentary limbo, after numerous debates, clarifications and amendments, the Real Estate (Regulation and Development) Bill was finally passed in the Rajya Sabha on Thursday.
The passing of the bill in the Upper House of Parliament is a moment to rejoice, especially for the average home buyer in India, who until now faced huge problems due to the unorganized arrangement of the real estate sector. For developers, it will help to boost their credibility with the customers and also ensure that only those builders dedicated to providing quality homes to buyers will stay in the market. All You Need To Know About Real Estate Appellate Tribunals (Reat)
The Real Estate (Regulation and Development) Bill, 2013 is all about empowering the real estate consumers.
Along with bringing in a structure to the process of real estate development and purchase through regulations that ensures timely development of real estate properties by builders, proper selling by registered real estate agents and corrective measures and provisions for defaulters. The Bill intends to do this by the development of 3 primary bodies at various levels of the government to bring in standardization to the sector. These are: ? Real Estate Regulatory Authority (RERA): The bill proposes to set up RERAs at the state level, and all real estate projects, developers and brokers must register with this authority to function in the respective state. Central Advisory Council (CAC): This body will be chaired by the head of the Ministry of the central government dealing with housing. Real Estate Bill gets a nod from Rajya Sabha. Real estate sector and home buyers can now expect ‘Acche Din’ ahead, as the much awaited real estate bill has got clearance from Rajya Sabha.
The bill is expected now to be listed in Lok Sabha but is likely to be cleared without much hindrance due to a commanding majority. Here are the crucial features of the bill to look through: The Bill gives power to the home buyers to make an informed choice about buying homes, ensuring timely delivery, and a swift option for a legal alternative in case the builder fails to deliver on his promises.
The Bill proposes setting up of a Real Estate Regulator that will keep a track on the developers from advertising or selling homes, till they have all the approvals from the local and regulatory authorities. These authorities (regulatory) will be set up in every state. Indian Realty Exchange.