Real Estate News
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Pay the Adequate Cost for Your Home Insurance
When you build a house of your dream, you will want to insure it also. A home is the biggest and the most expensive investment for most of us and protecting it against any damage or theft is a good choice. But often people wonder if insuring their house is worth or not. The cost of insurance can make anyone think twice about the same. We discuss how to ensure your house right: Choose the right insurance Insurance companies work on selling the insurance to the buyers and most often they will try you to buy the insurance that exceeds your needs. However, if in case of any loss, the company will pay only what is required to be paid under...
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How to Get Started with Real Estate Investment
Getting into real estate can be intimidating and can give anyone doubt about their investments. With the amount of money and time involved, it is only fair to be nervous before getting into real estate. We discuss the tips that will help you get started with the real estate Investments: Talking and discussing with your property advisors, bankers and peers will only help you in getting the right deal for the investment. The more you talk, the more your doubts will get answered. Communication helps in every stage of planning and processing when it comes to real estate. Do not hesitate in asking too many questions as there is no wrong ...
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Everything You need to Know about Gifting the Property
Want to gift someone property but not sure about how to proceed, we discuss everything you need to know about the gifting of property. Under Section 122 of Transfer of Property Act, ‘gift’ is defined as the transfer of certain existing and immovable property that has been made involuntarily without any consideration from the donor and the recipient. However, there are certain aspects of the ‘gifting’, one being that the gift must be tangible and the ownership should be transferred to the receiver by the donor. What can be gifted? You cannot gift the property that you own. However, if you are a Hindu, you may dispose of your self-...
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Everything You Need to Know about Franking Charges
Buying a property is a huge investment. Not just the price tag of the unit but also the charges involved can take a toll on your financial status. Let’s take for example, when you are taking the loan from a bank, you will have to pay for the processing fees to the bank. You might also have to pay for the technical appraisal that the bank would carry out. Among the stamp duty payment and registration charges, one particular cost often gets ignored. Franking costs is one of the most forgotten parts of the discussion. What are franking charges? Franking charges are the charges that you pay for the stamp on the property documents. When you...
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Don’t Fall for the Pressure Tactics from the Seller or the Broker
As a buyer, most of us are not new to the pressure tactics that the seller and the brokers put on us. Things like ‘This is the best you can get at this price’, ‘We have the special discount just for you, there are other buyers who are willing to pay us more’, ‘we only have this offer for a limited time’ put the buyers in the difficult position where they do not want to miss out on the best deal. When you are investing in the biggest and the most expensive purchase of your life, you do not want to end up regretting the decision. Most of us fear the consequences of missing the right deal and end up making rushed decisions. But al...
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Check for the Occupancy Certificate before Moving into Your New House
Buying a house that fits your needs and requirement is a dream come true. For most of us, buying a home is a onetime investment and generally the biggest one you make in your lifetime. Before you move into your house, it is better to check for all the necessary documents. One of the documents that are often forgotten is the occupancy certificate (OC). It is also known as completion certificate or pass certificate. , and it implies that the construction has been completed and has compiled to the approved plans. The occupancy certificate is generally out for the entire building or some part of the construction but not to every individual uni...
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Budget 2019 Proposal to Give A Boost to the Real Estate Industry
Last year has been good for the real estate industry in the country. The emergence of REITs and new government rules boosted the real estate industry. The lower interest rates offered by the banks at the beginning of the year caught attention from the prospective buyers. The buyer took advantage of the lower interest rates, and the RERA rules further fueled the interest. This year’s budget is, even more, promising for the real estate industry. The budget proposed the extension of Section 80-IB benefits by another year. The government will continue to aid and push the affordable housing segment which aims at providing housing for all by t...
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Everything You need to Know about Partial Occupancy Certificate
Under construction properties often attract home buyers because of the relatively low cost of the property than it would be priced at after the completion. The builders are also offering the buyers the partial occupancy that will give them the right to move into their apartment as soon as the construction of the particular unit is finished. However, there are many things about partial occupancy certificate that buyer must know about. We discuss them here: The builders generally build the project in phases. Like for example, the entire project is divided into five stages. The builder will not receive the completion certificate or oc...
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Important Factors to be Considered in the Costs before Starting the House Renovation
When planning the renovation of the house, you are prepared with the right budget that you have analysed keeping all the major factors in mind. From the cost of wallpaper to the value of labour per day, the detailed budget has been set by you. To add the cherry on top, the bank has agreed to give you the desired loan for the renovation of the house. You plan to stick to the budget while doing the renovation. But some small expenses must be factored in before starting the renovation. These expenses might look small, but they can cost you a lot if they are not correctly factored in. We discuss the costs under: Permissions If you live in ca...
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Avoid doing these if You are a Potential Home Buyer
People often discuss what one should do while preparing to buy a house. Owning the property that meets your needs and requirements needs a lot of careful planning and focus. However, we often do not realise the things one shouldn’t do when preparing to buy a house. We list down the things a potential buyer should not do: Avoid taking rushed decisions Metro life often feels quite appealing to individuals. But the stress that comes with metro life is not often discussed. To unwind, people often indulge in retail therapy. Often people get caught in the peer pressure of buying a house. If you are one of those who are buying a home out of...
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