This Independence Day, Seek Freedom From Your Landlord’s Tyranny

Sudhir, a Noida-based art director with an advertising company has been toying with the idea of buying his own house for a long time now. He and wife, both working with multinational companies have been staying a plush, apartment on lease for the past three years and now when Sudha is expecting to be a mother in a couple of months, they want their child to arrive in their new home.

Since both are earning, and earning well, putting down a deposit on their own dream house is not a pipe dream for the young couple. They have already figured out how they are going to manage it. One’s salary will pay the equated monthly installments (EMI) on the home loan, while the spouse’s salary will take care of their other monthly expenses. Both realize that the time to invest in a good property is now, because they get burdened with child care expenses, schooling fee etc.

This Independence Day, Seek Freedom From Your Landlord’s Tyranny

This Independence Day, Seek Freedom From Your Landlord’s Tyranny

Basically, we want freedom from the hassle of paying rent every month,” quips Sudha. “…And we are mighty kicked with the idea of booking our pad on August 15, the Independence Day. For us, it would mean freedom from our landlord’s tyranny,” she jibes.

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What better day to celebrate the acquisition of a new home or office than Krishna Janamashtmi?

Janmashtami is celebrated with full verve and vigor, among devout Hindus, across India. It marks the birth anniversary of Lord Krishna, who is worshiped as an incarnation of Lord Vishnu, or the supreme creator in the Hindu mythology and belief system.

It’s also considered an auspicious time to make life-transforming decisions, such as the purchase or movement into a new home, or a new business establishment. It’s believed that the business will flourish and there will be lots of happiness and prosperity in the house if an important decision regarding a home of an office is taken on Janamashtmi.

Time for a new beginning! Krishna Janamashtmi

Time for a new beginning! Krishna Janamashtmi

Buying a first, or even a second home, or a place from where you conduct your business or work, could easily be counted as amongst the few important decisions that you make in your life. The way you want to live your life, who do you want to interact with, what do you want to be surrounded with, and how do you want to spend the rest of your time – everything is contingent on the physical properties of the residential or commercial/retail property that you eventually choose to invest in.

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10 Best places in Mumbai to buy a Home

Mumbai or Bombay, as some sentimental people prefer to call it, once an archipelago of seven islands, is today a thriving metropolitan and the financial capital of India. It is a city bursting at the seams, what with thousands thronging to it, hoping the magic of the city rubs off on them too. Space has always been a constraint here because of which the city has grown vertically rather than horizontally. Mumbai has certain residential areas which are real estate gold as far as their value is concerned.

While most people in Mumbai choose a home which is closer to their work place, there are others who don’t mind a long daily commute as long as they get to stay in the area of their choice. Here’s a list of 10 areas in Mumbai which are an ideal place to own a home in –

10 Best places in Mumbai to buy a Home

10 Best places in Mumbai to buy a Home

  1. So-Bo (South Bombay): Another old colloquial term for South Bombay is Town. Areas such as Cuffe Parade, Altamount Road, Neapensea Road, Malabar Hill etc. are its part. These are super- posh, exclusive and extremely expensive areas of the city. Some of Mumbai’s biggest movers and shakers happen to live in these areas (the Ambanis’, the Godrejs’ and the Tatas’ to name a few). The property prices in South Bombay are sky high and many people choose to live on rent here.

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How to make your Small Living Room Perfect

Even if a room is small, it can still aim for perfection. With much overcrowding in metro cities nowadays, the sizes of our living spaces are decreasing. With such constraints, the main problem is how to overcome the limitation of a small space and stay up to date with the modern home décor and design trends.

Usually a home’s most spacious room, its living room, if small, goes under the knife often and thus becomes irregular and asymmetrical. However, it doesn’t have to be like that if you take the below suggestions:

How to make your Small Living Room Perfect

How to make your Small Living Room Perfect

  • Euro Touch: Give your living room a characteristic European look by adorning it with tropes and themes from the cold continent. Just like Europe, divide your living room in parts giving each of the areas a distinct touch and a unique feel while binding them with a common motif. Be it a Russian leather sofa or a French Wine cabinet, the European living room theme brings an undeniably diverse composition to your living room as you have an entire continent to borrow from. Moreover, the visitors to your home will always be pleasantly amused by your living room and indulge in its uncharacteristic atmosphere. Such living rooms can always have numerous memorabilia and souvenir additions to constantly remain fresh and thus, perfect.

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How is your Home Loan Interest Rate Decided

With reasonably-priced apartments, land-pooling and public and private housing and loan incentive schemes, the Home Loan Market is growing rapidly in our country. Home Loans interest rates this year are at their lowest of the last six years. The Loan Interest Rate which is the cost of borrowing money (to be repaid by the borrower to the lender) is decided by lenders after considering several factors. Let’s go through them below for a comprehensive understanding of the subject:

How is your Home Loan Interest Rate Decided

How is your Home Loan Interest Rate Decided

  • Repo Rate: Repo rate (RR) is a method used by the Reserve Bank of India to control inflation. It is the rate at which the Reserve Bank of India lends money to banks if the banks have a deficit. When the RBI changes the Repo Rate, interest rates on all banking products including home loans are affected.

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How to make your Room’s Decor Attractive

Ever wondered why some homes look so inviting and appealing while others in spite of expensive furniture and amenities leave you stone-cold. There’s nothing like coming back to a warm, welcoming and visually-appealing home after a long and tiring day. People often feel that changing the look of their home to give it an attractive, cozy and inviting look is a tedious and expensive task. Well, it need not be so. The trick is to know what to change and how to change it.

How to make your Room’s Decor Attractive

How to make your Room’s Decor Attractive

This season, the focus is as much on texture as it is on color and design. Texture has that unique ability which allows you to imagine how the object/fabric would feel without requiring you to actually touch it. For example, when you see a chrome-plated kitchen top, you know that the surface will feel smooth and cold if you touch it.

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How to go Big with your Small Balcony

In the era of Affordable Housing, you have got to make do with a reasonably-sized home which has a small balcony. However, owning a small balcony doesn’t necessarily mean that you can’t make it feel big. Here are some ways to turn your tiny balcony into a massive affair –

How to go Big with your Small Balcony

How to go Big with your Small Balcony

  • Vertical it goes: A small balcony’s limited horizontal space binds you from giving it wings. The plants and vegetation which you always wanted in the balcony can’t spread its legs fully on the ground. There’s an easy fix, go vertical! Going vertical means that the exuberant greens can increase the grace of the balcony walls. These plant hangers and shelves can also occupy the ceiling space or be a charm near the light fixture.

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Why a Good Credit Score is critical for a Home Loan

Credit Score similar to Aadhaar Card nowadays is your identity card, in this case, the identity card of your financial-self. As the digital medium attempts to accumulate the key credential data of India’s 1.3 billion people, it also attempts to make our daily lives simpler by streamlining this data.

Why a Good Credit Score is critical for a Home Loan

Why a Good Credit Score is critical for a Home Loan

In one way or another, we all are part of the country’s economy, especially if we own a bank account. Being in the country’s financial database via using bank’s services such as credit cards, secured and unsecured home loans etc. prompts Credit Information Companies (CICs’) to collect and maintain your financial information.

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How will GST impact your Home Loan

Home Loans which you might have borrowed from a Bank or a Non-Banking Financial Institution will be affected by the implementation of the Goods and Services Tax (GST). Rolled-out on July 1st, 2017, GST subsumed multiple state and central taxes existing in the system and introduced five fixed tax rates into the Indian economy – that of – 0%, 5%, 12%, 18% and 28%.

How will GST impact your Home Loan

How will GST impact your Home Loan

When discussing GST effect on home loans, please note that in the pre-GST era, usually a 15% Service Tax was applicable on the services attached to your loan which has now been replaced by an 18% GST rate. [Read more…]