Category: Home Buying Tips

Few Tips To Have A Safe Home

One can sense the chill in the air. It’s Christmas time which brings sumptuous food, travelling, partying within its red socks. People tend to visualize this time of the year through rose-tinted glasses. If you belong to these categories then here we must share few advanced tips to secure your home pilferers while you are out. Now you have started thinking how to leave your home safe in this vacation time. What needs to done? Let’s others go out you will their alone at home for its safety? No ways, staying alone is also apparently unsafe even you have a security guard in your residential compound too.
First of all consider yourself fortunate enough for owning your own home. Kolkata this year is celebrating this occasion this year with the steady selling number of Affordable flats in Kolkata. The association of real estate honchos with these budget friendly flats in Kolkata is creating massive interest among the home buyers and it’s a great news for Kolkata real estate industry as well. Coming back to the festive season here below are some effective safety tips which should be followed for better security purpose of your adobe.

Image and video hosting by TinyPic
Choose a safe apartment– These days are full with increasing vile incidents happening around. We get news like rape and murder inside the four walls of residential apartments across the country in our dailies on an alternative basis. To reduce danger firstly you need to select an apartment of advanced facilities and decent neighborhood. Thus before purchasing an apartment it’s always necessary to have a thorough research on the locality of your chosen property and Google the crime rate of that very area as well.
Check emergency exits– Have a close look at the emergency exits of your chosen residential unit. Incase fire or any natural disaster occurs you should know the quickest other ways to escape from the calamity.
Know your neighbors well– This is one of the basic process to calculate your safety level. Knowing you neighbors mean having the whereabouts of the people whom you are surrounded by. Having good rapport with neighborhood eases your daily living. They will protect your home while you are outside. Try to be friends with them as much as possible.
Install a home security system– Buy a reliable home security camera for your property inside out to have a safer life. Surveys show that 80% of the burglars don’t attack a home that has CCTV recording system installed. The live footage on these cameras can be viewed on smart phones even. Have sensor on the doors and windows so that if your property gets in touch with any unknown person or even animals it will cause the alarm ringing.
Few quick tips then–
• Don’t shilly-shally to report in local police station id you find something suspicious around.
• Take a self-defense class from the professionals
• Speak to the landlord if some appliances, such as doors, windows, locks, are wrecked.
Moreover be precautious about sharing information about your daily schedule on your social media. Your wellbeing and privacy is the most imperative when you are living by yourself.
– By LNN (Liyans News Network)

Environmental Clearance Won’t Create Exigency In Real Estate Development

Government now has relaxed environmental clearance process for upcoming real estate evolution in the course of ‘Housing for all within 2022’ project. The changes are likely to dash off through gazette. The central government has to make the clearance portion easier to fast-track the deliverance time of residential projects. Under this rule small projects will have to produce ‘self-declaration’ documents to meet environmental conditions. Whereas the bigger projects need to seek prior green approvals before the construction puts on the board. Therefore along with every other required legal documents before registration builders are bound to show environmental approvals if they are asked for the same.

These changes came in front in the past week with the gazettes as bye-laws in the environment impact assessment to stroke up the approval process for realty development. “Since the states are now required to bring changes in the respective building bye-laws so that it won’t be in conflict with the central notification, the implementation of the new rules will take nearly six to seven months,” said Manoj Kumar Singh, joint secretary in the environment ministry. This inclusion has been made following the footsteps of countries like Japan and Singapore. Speaking about the entire process Sing also informed, “Idea is to make more buildings follow environmental norms. It integrates standard environmental conditions with the building permission to cut delays.”

The following gazettes confirmed that residential projects sized 5000 sq mtr up to less than 20,000 sq mtr comes within range of fulfilling ‘environmental conditions’ through self-declaration and certification process. According to the law the local authorizes have the final say regarding conformity of the green laws. If you want to buy flats in Kolkata you should have a clear idea of whether the builder is well aware of this major submission. This category of project was under supplanting group. “The local authority may issue the building permission incorporating environmental norms in it and allow the project to start based on self- declaration and certification,” it said. Projects that are sized of 20,000sq mtrs to less than 1,50,000sq mtrs will be absolved from the existing modus operandi of ‘prior environmental clearance’ from the State-level Environment Impact Assessment Authority (SEIAA), due its time-depleting infrastructure. Now construction companies don’ need to go to SEIAA. This category of buildings now will get real-time ‘building permission’ and ‘environmental clearance’ from local civic bodies which will be having an ‘environmental cell’ for checking the environmental parameters.

Image and video hosting by TinyPic

Now this cell will process online applications and come forth with it in a meeting of committee of development authorities and Municipal Corporation. The committee will audit and settle the environmental clearance will be issues to be incorporated format by the local authority. This entire move is aimed at ‘ensuring ease of doing responsible business’ and integrating the permission for construction. The key factor of the notification is to bring low budget flats within 2022 for the lower income socio-economical group in urban areas. Under the notification, only building projects of the size of 1.5 lakh sq metres to less than 3 lakh sq metres will have to go to the SEIAA for prior green clearance while the projects having more than 3 lakh sq metres will go to the environment ministry’s central assessment authority.

By LNN (Liyans News Network)

Should We Invest In Real Estate During This Festive Season?

Mostly homebuyers in Kolkata wait for the festive season to start for availing the residential property sale in Kolkata where they could get the attractive discounts like- heavy concessions, free maintenance for certain period of time, free parking lot allocation, weighty discounts on registration and stamp duties. Same as your daily using components property market has also some specific sale seasons where to attract homebuyers and to push the property market real estate construction companies offer alluring discounts on property items. There are mostly three basic cycles in real estate sale –

1. Price upsurge

2. Price fall

3. Neutral market

4. Then rise again.

Therefore before buying property one should always consider the ongoing state of property market more than anything else.

Right timing has a very important role in property venture – Price of the real estate items has been an eternal reason to worry for the property investors. People have a common inclination of buying property when the prices are eventually slashed. Nevertheless the right property market has an essential role in the real estate investment. Being tech savvy these days people are finalizing their property investments online. Using inventory features like post your property requirement in Kolkata people are getting free online guidance related to the real estate market and their property investments. Experts suggest the earlier you invest in residential items you would enjoy lower financial burden for the long run.

Many commercial real estate investors spend a reasonable amount for monitoring the property market in order to perform the correct real estate investment to gain the maximum resale benefits. A good market analyzer always consider the future prospect of the property market of their probable invest zone. For instance if today if you put your money on properties of suburban areas of Kolkata , after few years the same property will be priced around 4 times than that of the time of investment because of the gradually improving infrastructure of that specific area.

Speaking about the special seasons developers sell both the on hand and existing inventory properties among which investment in the new-launched is the better profitable investment option. As an individual owner property selling has mostly come out of some financial crisis. For property selling one should always consider the open market valuation before confirming the concluding selling price.

Key facts establish the market augmentation – These factors regulate the demand and supply chain in the real estate market. Infrastructural development like transport, retail, environment, educational and medical habitation has crucial role in locality oriented real estate business boom. Therefore in the current scenario homebuyers should have to be enough knowledgeable about this existing factors that straight way impact on the real estate market. It’s always advisable before the property purchase one should consider the property graph of at least past 2 years or so. On the same note builders should have to be transparent enough with all their offerings, discounts and communication with the buyers and hand over the property in the scheduled date promised earlier during the time of registration. Thus it’s necessary for all the homebuyers to know about the property cycle minutely before entering to an active investment zone.

By LNN (Liyans News Network)

 

RBI Reduces REPO Rate. How Much Will You Stock Against Home Loan?

On 4th of October RBI cuts the REPO rate by 0.25%, but the bank has chosen to keep the CRR rate same as the previous years. Previously the REPO rate was 6.50% now it has been changed to 6.25%. This entire modification is done keeping in mind the inflation data and the slow growth rate.  How the banks act in response when they will have to cut off their lending rates is yet to be seen.

Starting from month of January of the previous year RBI has slashed the REPO rate by 1.50%, accordingly banks reduced their lending rates by 0.5% approximately. Speaking about the definition REPO rate is a rate of interest at which banks borrow capital from RBI, whereas CRR is   basic amount of capital or gold asset which Banks have to park mandatorily with RBI. With both these tools RBI controls entire Indian money market. On the basis of the economical situation of the capital market RBI utilizes its ultimate power of injecting and squeezing to control the liquidity in Indian economical market.

Image and video hosting by TinyPic

After-effects on home loan borrowers

The current reduction of 0.25% in REPO rate may be at the no harm no foul state going by the current money market, but if it goes on falling over a period then banks will have to no other choice rather than passing on the benefits, the end shock could be vast. Each bank stores large amount of savings in the interest for long-term value.

With the reducing lending rate borrowers will gain on their existing home loans. On a home loan of 40 lacs for 15 years at 9.5% interest the entire interest load can be lessen by close to 1 lac in the year, if the lending rate again falls by 0.25% then also the profitable amount will be around the aforementioned. Here’s the chart on how much you can save on some home loan amounts-

Impact of rate cut: How much one can save in interest (for a 15-year loan tenure)

Loan Amount EMI @ 9.5% EMI @ 9.25% EMI Saved(RS) Interest Saved(RS)
Rs 25 lacs 26,105 25,730 -375 67,645
Rs 50 lacs 52,211 51,460 -751 1,35,291
Rs 75 lacs 78317 77189 -1128 2,03,000

Monitoring from bank’s perspective

Every single loan with elastic interest rate counting home loans, borrowed after 1st April 2016 will be connected with the banks’ marginal cost of funds based lending rate (MCLR), before this period those were part of banks’ base rate. People who borrowed the loan before April will get only one chance to switch to the MCLR rates.  Presently one year MCLR is about 9-9.5% for most of the banks.

ICICI Bank’s 1-Year MCLR is currently (of use October 1, 2016) at 9.05 per cent, while home loans are offered at 9.35 per cent (9.3 per cent for women borrowers). State Bank of India’s MCLR is at 9.05 per cent, while home loan rate is 9.3 per cent (9.25 per cent for women borrowers). Interestingly, 1-Year MCLR for ICICI and SBI on 1st April was 9.20 percent.  After that, it has come down by 0.15 percent. MCLR linked home loans are either set every 6 months or a year after.

New home loan takers it’s the ideal time to bargain with the construction company any invest in newly built flats in Kolkata 

                              EMI per lac at different interest rate

          Tenure              9.5              9.4              9.3             9.25
180 months            1044            1038             1032             1029
240 months             932             926              919               916
360 months             841             834              826               823

In the table above: a home loan amount of Rs 36 lac at 9.25 per cent for 15 years, the EMI will be (1029 * 36 lac) / 100000 = 37,044 calculated.

A borrower can choose among these options before borrowing home loan

  1. Reduce EMI
  2. Reduce tenure
  3. Transfer loan to another lender

 

But in each of the cases he will have to keep a track on the total interest saved. If the ongoing loan is about to end the impact of rate change may affect much.

By LNN (Liyans News Network)

Your home is much more than BHK

A house or a building turns into a home when you can be completely yourself without any terms & conditions. Whether it’s your first or third purchase you always go for the best according to your budget. Investing upon Real Estate has become equally fascinating subject as putting in resource on stock market or jewelries. This is due to an ever lifting market value of land and properties.
Everyone wants his house looks the best in the society. For example if we visit to relative’s or friend’s place we stop by a furniture or any other home decors and after returning we try to incorporate those ideas or may be modified version of those designs into our place. This is why the room for Interior and exterior design comes up. Interior design has become a phenomenon presently. Everybody wants to come under an unbeatably decorated room which will be kind of elite in itself. Be it your own small house/part of any apartment/a bungalow if you want it to dazzle, go for a good interior designing agency based on your prerequisite.

Officially it’s a whole new home: Giving your room an awe-struck look is best known as Interior Design. From choosing in-fashion paints, flooring, furniture, curtains, modular kitchens, tiles and other matching bathing equipments and selecting other decorative all these come under the job of an interior designing unit. Most important part of an interior design unit is unlikeness and individuality. Not always for a new home, interior decorator can be hired for modifying old nests.
Color man, color man: Selecting color for your space is one of the primary yet tough tasks of an interior designer. No one wants to even imagine a color less world. Often designers meet people who have finicky attitude towards accepting colors. Some of them prefer a same colored overall set-up. Colors represent the mood of the lives inside. New era wants to paint different rooms of distinct strokes. An interior designer helps to you to decide the right color describes your tale better- e.g. light and relaxing shades for living-rooms, vivid and peppy ones for kids’ rooms, tranquility for the divine corners, luminous effect for drawing and dinning place are the elemental facts about colors. Same goes for the tiles selection for your floors and walls. The choice should be according to color of wall either it should be on the similar side or completely contrary.

The furniture fashion: Furniture has a prior role in decorating rooms. It’s not an easy task. It won’t be overstated if it’s said that furniture correspond to the socio-economical status of the owner. This are of application is not beyond color schemes. An interior designer only finds out that furniture which will gel well with the ambience of the very room. Chairs that are used for restaurants won’t fit in the living room, or office furniture is of no use inside the bedroom. Some people want to go ethnic in terms of furniture selection; some wants it to be urban. An interior decorator has the best suggestion and range of options for buying suitable furniture for any room. Remembering the space-crunching issue single furniture is coming with a multi-purpose usage.

All these afore-mentioned descriptions are the fundamental job of an interior agency. They mix and match odds and even accessories to make home a better place to live in. They develop a whole new atmosphere inside a room through their decoration and modification which has the sharpest innovative approach to allure your visitors and leaves a permanent image and metaphor for a long-run even after they depart. The ultimate accomplishment of interior designers speaks through their existing portfolios. Because it’s your house, you have every right to transform it into a ‘can’t live without’ luxurious home.