Co-Owning a Property? Here is All You Need to Know

Ashish wanted to buy a home in Bangalore. Though he wanted it in central inner-city location, all property prices were exceeding his budget, and he did not want to shift to the far-off suburbs. So, he decided to co-own the property with his college friend Gaurav, who was also looking for a similar property. Both of them were aware of the importance of legalising their agreement and so they hired a lawyer to discuss the terms. They were surprised with the legalities involved in a co-owning agreement.

Co-Owning a Property? Here is All You Need to Know

Co-Owning a Property? Here is All You Need to Know

So, if you are also thinking of pooling in your funds for a joint ownership, this is what you should learn from Ashish and Gaurav.

What is Joint Ownership?

Joint ownership, also known as co-ownership, is when two or more people have rights over the same property. All co-owners hold title to the property, according to the agreement. Majorly, there are two types of co-ownership- Joint Tenancy and Tenants-in-common. In case of joint tenancy, all parties have equal rights over the property and it provides rights to ownership of the property for the co-owners who outlive other co-owners. When one co-owner dies, his rights are automatically passed on to other co-owners equally. Whereas in case of tenants-in-common agreement, the shares of co-owners are not specifically mentioned. And unlike joint tenancy, the deceased person’s share passes on to whomever that person named in his or her will. [Read more…]

Guide to Transferring Your Property

During the life of a property, there comes a time when you have to pass it on to someone else. Many of you might think that we are talking about selling it. However, there are other ways, too, of transferring a property. A sale deed does not fit the picture when you want to transfer your property to your relatives. In this case, gift deed or relinquishment deed is the best way.

Guide to Transferring Your Property

Guide to Transferring Your Property

Basically, for lawful transfer of an immovable asset such as property, you need to get the gift deed registered with proper authority. So before you get any of these deeds drafted, you must know about the pros and cons of each of them. [Read more…]

Best Localities in NCR for Residential Property Investments

Buying property for profitable investments? Delhi/NCR is the best. Well-connected to major catchments of the city such as airports, Railway Stations, National Highways, Government and Private Hospitals, several locations in NCR are largely attracting investors from India and abroad. Gurgaon and Noida are great hubs for people looking for homes but they also make great investments for those who would otherwise end up buying builder flats in Delhi. Gurgaon and Noida have recently seen such tremendous development that they’ve stretched to include more investment worthy spots as compared to Delhi.

Best Localities in NCR for Residential Property Investments

Best Localities in NCR for Residential Property Investments

If you want to join the exclusive club of the investors, here are some hot-spots to choose from.

New Gurgaon- Located in Haryana, New Gurgaon is an investor’s paradise and the current focus of many developers. Owing to better connectivity via NH-8, Kundli-Palwal Expressway and Dwarka Expressway, this is the area which will give great dividends in the near future. A large number of projects in sectors 82 to 92 have come out as great option for investors. [Read more…]

Buying to Rent Out? Here is All You Need to Know

It may be common knowledge that buying rental property can be one of the fastest and secure ways of building up serious wealth- but the ‘how to’ knowledge is not so common. The process or steps to buying rental properties are not so different from that of buying your own home, just a few differences. Nowadays, the legal rights of tenants have been made quite explicit, so as a landlord, you must also know your rights. But, first of all, you need to invest in the right type of home.

Buying to Rent Out? Here is All You Need to Know

Buying to Rent Out? Here is All You Need to Know

Step One- Do your homework before going in for the dotted line.

As soon as you have decided to buy property for rent, don’t think of the décor or paint, there are other important factors which you have to consider.

  • What kind of investment you want to buy?

  • How much can you afford to spend?

  • What kind of a neighborhood would you like to invest in?

  • What is the average rent in your area?

  • What kind of return on investment you want to make?

Doing your homework right is important. [Read more…]

Signs That a Suburb is going to See Impressive Value Appreciation

Investors always want to be the one to find the new up and coming suburb before it booms. But what are the signs to look out for? There is no better feeling than watching the value of your property skyrocket, and while some commentators look for falling vendor discounts or reduced rental vacancies, these figures aren’t readily available. There are far simpler ways to work out if your suburb is about to experience a price boom.

Signs That a Suburb is going to See Impressive Value Appreciation

Signs That a Suburb is going to See Impressive Value Appreciation

Neighboring Suburbs are in Hot Demand- The property market often experiences the ‘ripple effect’. As prices rise in one area, neighboring suburbs offer better value so demand rises in these localities often pushing up prices. If the ‘sold’ sticker is rapidly going up across homes in the neighboring towns, chances are your suburb could experience the outwards ripple of growing prices. It is a clear sign that this suburb is right for you. [Read more…]

Should You Live A Rented Life After Retirement?

Nationwide, it makes more financial sense to buy a home than rent. But it gets a little more complicated for those in their golden years. Retirees also need to decide whether they want to leave an inheritance behind, this is an important factor that helps them choose between renting and buying. It is obvious that including property in your retirement plan is a good idea. But if a retiree does not want to pass on an inheritance then it is always more advisable and cheaper to rent than to buy.

Should You Live A Rented Life After Retirement?

Should You Live A Rented Life After Retirement?

Building equity is one of the important factors that favor buying. If you plan to leave it to your family then buying is the sensible thing to do, but if you are not concerned about the value of equity then renting is the better option. [Read more…]

Real Estate Investment: Stages of the Buying and Selling Cycle 

Most real estate investing strategies are focused on forced appreciation to generate lump sums of cash (fix-flip, short sales, foreclosures) and others focus on cash flow (mobile homes, low end rentals, class C Apartment buildings). While building cash reserves and having cash flows are important, they will not lead you to building significant wealth over a period of time. Real wealth is only created through strategies that harness the power of compounding.

Real Estate Investment: Stages of the Buying and Selling Cycle 

Real Estate Investment: Stages of the Buying and Selling Cycle

Banks know this but for real estate investors, the only strategy that can put compounding to work is buying income property at the bottom of the real estate cycle, when it is available below replacement cost and selling at or near the peak of the cycle, while trading far above the replacement cost. In order to build the right property investment portfolio, you must be well-versed with the stages of buying and selling. [Read more…]

Panvel- The New Investment Hub in Navi Mumbai

Panvel is, presently, the most improved area around all the hubs of Navi Mumbai. It is located along a passageway which is seeing a lot of development and thus it is turning from a second home destination into a realty hub, and one of the most affordable places to invest in Navi Mumbai. It is on the outskirts of Mumbai and offers several advantages for home seekers- good connectivity, several upcoming infrastructure projects, green surroundings and above all affordable prices.

Panvel- The New Investment Hub in Navi Mumbai

Panvel- The New Investment Hub in Navi Mumbai

Panvel’s residential market witnessed a spurt after the announcement of the international airport in Navi Mumbai in 2010. The region has residential options, right from affordable units to studio apartments, to one, two, three bedrooms apartments with lifestyle amenities. There are also bungalows, plots, villas and projects that cater to the luxury segment. [Read more…]

Pune Real Estate: Wagholi Rising as a Residential Investment Hub

Wagholi in the Eastern Pune is emerging as a residential investment hub. It is reckoned as a promising residential and commercial destination. Living and working in Wagholi is becoming a trend in Pune. Many renowned real estate developers of Pune are taking Wagholi as hot Residential Area.

Pune is counted among the most affordable residential destinations of 2016. And Wagholi is considered as one of the fastest developing localities in Pune. Residential real estate market in the area has grown by leaps and bounds; therefore the industry experts recommend the locality as one of the best residential investment options.

Pune Real Estate: Wagholi Rising as a Residential Investment Hub

Pune Real Estate: Wagholi Rising as a Residential Investment Hub

Let us look into details why it is so.

Unbeatable Property Rates

If your budget is restricted, Wagholi is the area that you can choose. Prevailing property prices in the locality is Rs 4,000-4,500 per sq ft. Wagholi is the most affordable option for those who cannot afford property in Koregaon Park where property is offered at a price of Rs 10,000-12,000 per sq ft. Affordability is the key factor due to which area is witnessing high demand from IT professionals. Near Wagholi, Kharadi has almost reached to its saturation in terms of real estate development and offer properties ranging between Rs 5800-6000 per sq ft, on the other hand Wagholi offers an affordable range for those with limited budget. [Read more…]

Complete Guide to Buying a Resale Home in India

For buyers who do not want to wait for moving into their new home but cannot afford a new ready-to-move flat, resale homes come as a rescue. Resale homes get homebuyer’s attention as they save them from the misery of paying rents, waiting for the possession or paying huge amounts as taxes on a new property. Though the skyrocketing property prices do not allow a person to save a lot on the resale property, other benefits attract a number of homebuyers.

Complete Guide to Buying a Resale Home in India

Complete Guide to Buying a Resale Home in India

Direct Benefits of Buying a Resale Home

  • Unlike an under-construction project, a buyer will not have to pay EMIs or rents or both, as he can immediately shift to the new house.

  • There is no misrepresentation or cloaking of the property’s limitations. Everything is in front of your eyes.

  • Resale flats are available at a cheaper rate and the prices are highly negotiable according to the age and condition of the property.

  • Tax benefits can also be availed in case of resale properties.

Things to be Cautious About

There are a few grey areas of buying a resale home which should be cautiously dealt with. Firstly, you must physically check the condition of the building, the age of it and how it has been maintained over the years. You do not want to be stuck with a dilapidated flat after wasting your hard-earned money on it. Secondly, ownership status of the building is a very important concern. You must make sure that the seller is the true owner of the flat and he has all ownership documentation in place. Thirdly, make sure that the seller does not have outstanding payments on the property owing to the maintenance, society charges, etc. [Read more…]