Real Estate News
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What should Homebuyers Expect in 2019?
Real estate is slowing picking up the pace when it comes to sales, after years of slow down. If you have made up your mind and have secured enough finances to pay for the down payment, here’s everything you can expect from the real estate industry this year. Increase in interest rates Since demonetization, the banks reduced the rate of interest for home loans. They have been at the rock bottom for a year. This year it can be expected that the interest rates will rise again. This may cause the prices of the flats to jump up. More or less the prices will remain the same With lots of new rules and regulations that have come into force,...
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What New Buyers should Focus on this Year?
The demonetization brought along with it the reduction of the interest rates for home loans. Many of us took advantage of the opportunity and took a plunge by investing in a house. What should the buyers do now? Is their responsibility for making the right investment over? The answer is no. There are still things the home buyers should look into. Take it easy when it comes to money Buying a house is the most significant investment of our lives. Putting all our life savings, making sure that we are capable of paying out loans for the next ten years is a considerable task. But your responsibility has just started. When you move into the ...
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Myths about Buying A Property that No One should Believe
Buying a property is a great Indian dream. The once in a lifetime investment is often taken with utmost caution and proceeded with care. But as the prices keep rising in the real estate, it takes an average person to save for years before they can make a voluntary step towards the investment. One of the major road blocks that the real estate faces are the myths and misconceptions about it. We list down the misconceptions no one should believe in before buying a house: It is only for the rich and famous Absolutely not! With the price tag on the properties, it used to be for the ones who could afford it. But now with the efforts by the g...
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Developers Must Keep It Slow and Steady this Year
In the past decade, the real estate in the country has seen a steep rise. Young people started investing in real estate, unlike their parents who took the step pretty late in life. The increase of MNCs in India with a good paycheck motivated people to invest in the real estate. The government also went with the flow and came up with the rules that made it easier for buyers to invest. The banks and financial institutes also showed much interest and came up with many deals and opportunities which further lured the buyers into the same. The builders also took the opportunity and launched projects one after another. After a decade we see that ...
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Credit Link Subsidy Scheme Extended till March 2020
The Union Housing and Urban Affairs Minister, Hardeep Singh Puri, said that the centre had extended the credit link subsidy scheme on the middle-income group (MIG) till March 2020. The minister also informed that he has already signed the file that allows the extension of CLSS under which the government provides the subsidy of up to Rs 2.67 lacs on home loans. Earlier the CLSS on the home loans for the middle-income group (MIG) category under the Pradhan Mantri Awas Yojana (PMAY) was till March 2019, which has now been extended. In the statement issued by the ministry, Puri said that "I had just signed a file before I came here. It was on ...
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Tax Implication for the NRIs Selling their Property
The Indian real estate is a gold mine for foreign investors. High return and suitable norms, makes it easier for the NRIs to invest in the property in India. Though, the tax implications for the NRI sellers are very different from the resident citizens. If you are selling your property, here I everything you should know. Capital gains If you are selling your property within two years of purchase, then you are liable to pay the short term capital gains based on your income. If you are selling the property after two years of purchase, then the NRI will have to pay long term capital gain at the rate of 20 percent. If you are selling the p...
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Property Co-Ownership may Give to Rise in Complications
Buying a property jointly and having a co-owner of the same comes with many advantages. But the disadvantages are not to be overlooked. The property co-ownership gives you access to higher loan, but that does not mean that it does not come with a cost. Things to know before you apply for the co-ownership of the property If the joint loan comes with a cost as well. If one of the loan applicants fails to pay the mortgage on time, then the entire EMI burden falls on the shoulder of another applicant. The credit score affects both the co-owners in case one of the applicants fails to make their share of EMI on time. There is a limit...
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Mistakes to Avoid While Buying a House as a Newlywed
Buying a house is a dream for a lot of us. Just like finding your soul mate who understands you like the back of your hand, finding the right house that fulfils your needs and requirements feels the same. A lot of young couples are taking a huge step toward buying a house and investing in real estate. The pressure from the parents and the peer pressure from society to own a house is the driving factor. Sometimes these decisions and investments can go wrong. One needs to be careful with the project they are investing and think it twice before taking a step further in that direction. Most couples are open to the idea of taking a joint loa...
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Things to Know about Home Loan Subsidy under PMAY
The government is revamping the Pradhan Mantri Awas Yojana (PMAY) that intends to cater to the housing need of the weaker section of the society. Credit-linked subsidy scheme is one of the components of the PMAY that promises to pay the weaker part of the society subsidy for home loan taken for renovation or construction of existing homes. Under the scheme, the applicant with the annual income of more than Rs 6 lacs up to Rs 12 lacs will get the subsidy of 4 percent for a loan component of 9 lacs for 20 years. While for those with an annual income of more than 12 lacs and less than 18 lacs, the subsidy provided will be 3 percent. Eligib...
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Real Estate Trends to Look Out for in 2019
If you are looking to buy a house in 2019, one thing to remember is that the real estate market scenario will remain the same. The prices are expected to be more or less remaining the same while the developers will still try to sell out their unsold inventory before launching new projects. With GST and RERA making it difficult for the developers, this year does not show any change in the availability of the liquidity for new projects. Although, there will be a few trends this year that will help both the buyer and the developers. Affordable housing segment Affordable housing segment has seen a rise in the last few years, for both the ...
