PMAY: Govt Announces Interest Subsidy on Home Loan; EMI to be Reduced by Rs 2,000

Post-demonetization benefits are coming to the people in different forms. As per a recent announcement, the government is offering 3-4% interest subsidy onhome loan of Rs 9 lacs to 12 lacs, which will reduce the EMI by Rs 2,000 approximately. You can avail this benefit if you are buying a new property in an area that comes under Pradhan Mantri Awas Yojna (PMAY); your annual household income needs to be in the range of 12-18 lacs.

PMAY: Govt Announces Interest Subsidy on Home Loan; EMI to be Reduced by Rs 2,000

PMAY: Govt Announces Interest Subsidy on Home Loan; EMI to be Reduced by Rs 2,000

This is a step to encourage middle-class people in urban areas to buy their dream home. The benefits can be availed by families comprising of wife, husband and unmarried children as well as by the unmarried and earning young adults who want to buy their first-home in an urban location. [Read more…]

How GST Road Transforms Chennai Real Estate?

Grand Southern Trunk Road (GST) is one of the three most important roads in Chennai, others being Old Mahabalipuram Road [OMR], and East Coast Road [ECR]. It starts from Guindy and extends up to Chengalpattu and beyond. Part of it falls under Chennai Municipal Corporation while most of it remains outside its purview. This road touches quite a few major localities likeAllandur, Nanganallur, Pallavaram, Chengalpattu etc.

How GST Road Transforms Chennai Real Estate?

How GST Road Transforms Chennai Real Estate?

GST Road not only has a presence of commercial and residential zones along its stretch but also connects Chennai International Airport giving it an edge over ECR and OMR Real Estate Investment. Chennai is mostly a market for end users, and GST road is the hotspot for real estate development and investment. This area is developing rapidly and has been labeled as a growth corridor of Chennai. There has been a rapid development of IT/ITeS industries along this corridor. This, in turn, has facilitated growth of residential sectors in this area. [Read more…]

Bangalore Real Estate: Invest In These 5 Localities for Best Returns

People who want to invest in real-estate are always trying to find new and developing areas of a city. Investments in these areas have an advantage that they are affordable but after a period of time they turn into an asset that gives good, favorable returns. Bangalore, the Silicon City of India, has always been the investors’ paradise. It is the start-up capital in IT, Aerospace and other industries. The job market is driving the residential market as well. Bangalore builders are offering better quality homes and with more amenities and on time too as compared to other cities.

Bangalore Real Estate: Invest In These 5 Localities for Best Returns

Bangalore Real Estate: Invest In These 5 Localities for Best Returns

The outer areas of metro cities are best locations where home buyers can get better homes at affordable prices. Good and reputed developers are also driven to these areas.

North Bangalore, South-east and East Bangalore real estate are good for investments as many infrastructure projects are planned here. Localities such as Thanisandra, Hennur Road, Outer Ring Road and Yelahanka are good areas to focus on. In south Bangalore, prospective areas are Varthur and Whitefield to buy and invest. Metro connectivity to these areas is in the third phase of construction. Once operational will change the face of real estate market. [Read more…]

Union Budget Key Highlights: Affordable Housing Gets Infrastructure Status

Union Budget 2017 was announced by Finance Minister Arun Jaitley on Wednesday- 1 February, 2017. Among other favourable initiatives for real estate announced by Mr. Jaitley, giving infrastructure status to affordable housing came out as a showstopper. It has not only paved the way for the growth of real estate but has also given a big fillip to PM Modi’s ‘Housing for All by 2022’ scheme.

Union Budget Key Highlights: Affordable Housing Gets Infrastructure Status

Union Budget Key Highlights: Affordable Housing Gets Infrastructure Status

Giving infrastructure status to real estate was a much debated topic in the last two budgets. Now that it has finally been approved, both homebuyers and developers are in a cheerful mood. [Read more…]

Real Estate Sector Welcomes Union Budget 2017 with Applauds and Cheers

The real estate sector has applauded Finance Minister Arun Jaitley’s Union Budget. Market players are expressing their happiness on favourable initiatives announced for the real estate sector. Major push was given to affordable housing and on improving long-term demand in real estate. A number of secondary initiatives have also been taken to promote push in the affordable housing market.

Real Estate Sector Welcomes Union Budget 2017 with Applauds and Cheers

Real Estate Sector Welcomes Union Budget 2017 with Applauds and Cheers

Let us discuss the impacts of Budget 2017-18 on real estate in some detail-

Infrastructure Status to Affordable Housing

After several years of proposal and rejection, affordable housing has finally been given infrastructure status in this budget. This is the most welcomed move and will act as a catalyst to achieve Modi’s dream of Housing for All by 2022. With this step, developers who come up with such low-cost housing projects will be eligible for several initiatives like subsidies and institutional funding. This will also encourage private players to invest in affordable housing market. [Read more…]

RERA Finalized For Delhi: New Rules You Must Know About

Union Minister Venkaiah Naidu cleared and finalized the RERA rules for Delhi and the implementation has already begun. Udai Pratap Singh, the vice-chairman of DDA, was designated the task to act as the interim regulator. The rules provide clarity on a few aspects. In addition to RERA rules notified in October, for Delhi, the rules also provide clarity on some aspects like litigation details that have to be published on the website, provision for quality audit of projects and flexibility in agreement of sale.

RERA Finalized For Delhi: New Rules You Must Know About

RERA Finalized For Delhi: New Rules You Must Know About

RERA is a blessing which has brought transparency in the whole real estate sector, especially for the buyers. A promoter or developer has to publish details of litigation on the regulators website, with other details related to the project while registering the projects. Most real estate consultants believe that this will help the homebuyers and others to evaluate the developers’ credentials. Here again there are two schools of thoughts some believe it is correct to publish details while others feel there is no need to put in all the facts. [Read more…]

Despite Demonetization Real Estate and Construction Industry Performed Well

Towards its end 2016 left a mixed bag of sentiments for the real estate sector. November the 8th was a historic day when PM Narendra Modi announced the demonetization of 500/1000 rupee notes which stopped being a legal tender to bring in a stop to black money. While the notification of RERA in several states brought cheers demonetization left the industry wondering about the consequences. However amongst all this chaos affordable housing segment showed considerable improvement.

Despite Demonetization Real Estate and Construction Industry Performed Well

Despite Demonetization Real Estate and Construction Industry Performed Well

Renowned developers offering a set of affordable property options continued to perform well in different markets. Despite all uncertainties related to demonetization and other reforms, affordable housing market did not show a downfall. The Real Estate market will definitely shed off dark clouds in 2017, especially the affordable housing segment. With demonetization a lot of money has come back into the banking system which is helping in lowering the banking rate and surely cheaper rates is more housing absorption. [Read more…]

RERA and Demonetization Worked in Favour of Affordable Housing in NCR

Towards its end, year 2016 left a mixed bag of sentiments for the Indian Real Estate industry. While the notification of Real Estate Regulatory Act (RERA) in several states brought cheers, demonetization left the industry wondering about the consequences. However, amidst all this chaos, affordable housing segment showed considerable improvement.

RERA and Demonetization Worked in Favour of Affordable Housing in NCR

RERA and Demonetization Worked in Favour of Affordable Housing in NCR

Luxury real estate markets were substantially hit by demonetization and are now coping up. But meanwhile, renowned developers offering a set of affordable property options continued to perform well in different markets. Despite all uncertainties related to demonetization and other reforms, affordable housing market did not show a downfall. [Read more…]

Swabhimaan- Aapka Ghar, Aapka Sammaan

Owning a home is a matter of pride. You burn the midnight oil, work hard and compromise a lot of things to reach a respectable position in life. Now it’s time to have a place you can call ‘home’.

With stringent bank rules related to homeloans, and lengthy documentation formalities, it is not easy for everyone to buy a house. There are a number of people who are financially capable of owning a home but due to lack of proper documents like ITR, Income proof, etc., their loan applications get rejected.

Swabhimaan- Aapka Ghar, Aapka Sammaan

Swabhimaan- Aapka Ghar, Aapka Sammaan

To make ‘dream home’ a reality for everyone, Investors Clinic is coming up with a progressive initiative called Swabhimaan. The scheme is for all customers who do not have standard income proof or complete documentation for taking a home loan. It also includes persons drawing salary in cash or generating income in cash. The scheme offers considerable flexibility with respect to certain documentation requirement like income tax proofs, bank statement, etc. [Read more…]

Q3 2016 Report: Market Stability Expected as Property Sales Exceed New Launches

The real estate market is one important segment where demand-supply gap has always been a matter of concern. After the recent demonetization move, certain speculative trends were seen in the market. Some said that the prices are going to see significant corrections while some opposed the idea. However, a recent report regarding the property market performance in the third quarter of 2016 was presented by JLL India, which told a completely different story leaning towards the brighter side.

Q3 2016 Report: Market Stability Expected as Property Sales Exceed New Launches

Q3 2016 Report: Market Stability Expected as Property Sales Exceed New Launches

For the first time after 2008, apartment sales on pan-India level have been higher than the number of new launches for the same period. In a market where oversupply had been a persistent problem, such great sales figures are very impressive. JLL suggested that the developers are aligning themselves to market realities and reducing inventory levels so that the prices remain stable. This is a mature step and reflects a new reality of the Indian real estate market. [Read more…]