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…]

Financial Goals Every Couple Must Set

It is never too late to set new goals. If you want to understand what went wrong in the past and how to rectify your mistakes in the future, this is the right time to set up your financial goals along with your partner. Everybody has dreams and desires, and to fulfill them you need to set goals. You then have a set path along which you can go to realize these dreams and turn them into reality. Your dreams/wishes need an action plan behind them – something that spells how you can convert your dreams into something real.

Financial Goals Every Couple Must Set

Financial Goals Every Couple Must Set

This is especially important when it comes to financial goals. Since they require regular investments of money and lots of effort over a long period of time, you and your partner need a workable plan to bring them into reality. Merging finances as a couple will bear fruitful results in the near future. It is important that you as a couple have to be on the same page where your finances are concerned. One cannot be a miser while the other paints the town red.

Here are some tips which a couple can use to set their goals right so that every move is crystal clear. [Read more…]

Benefits of Investing In Real Estate Private Equity Funds

No business can run without funds. However, funds are obliged to pay the interest on borrowed money which will come from a flourishing business. To circumvent the heavy risks of taking debt, the concept of equity has evolved which permits shareholders as legal proportionate firm holders. Stake holders provide the funds, thus enabling the operations. The property sector typically involves enterprises that are capital intensive.

Benefits of Investing In Real Estate Private Equity Funds

Benefits of Investing In Real Estate Private Equity Funds

Real estate is one of the most popular investment options for majority of Indian households, usually done by investing in residential apartments or residential plots. Like gold real estate has been regarded as a safe investment. Over the past few years, structured and formal routes in real estate have increased which is primarily a structured deal via subscription to Non-Convertible Debentures [NCD]/ Optionally Convertible Debentures [OCDs] by the SPV developing a project. [Read more…]

Courtyards: The Soul of Traditional Indian Architecture

Courtyards are to traditional Indian homes what a soul is to a human body. An inseparable part of our olden homes, a courtyard goes by many names and boasts of many benefits. Although, dryly described as an enclosed space which is open to the sky and surrounded by a structure, when we ponder upon Indian architecture, we find a courtyard is really a world of its own within a home.

Starting out around 6500-6000 BC in the era of the Indus Valley Civilization, Indian courtyards have surely come a long way. Molded in accordance to its locale’s climate and culture, the mythology of a courtyard changes as it travels across India. Below we briefly discuss various aspects of Indian courtyards and their impact on our homes.

Courtyards: The Soul of Traditional Indian Architecture

Courtyards: The Soul of Traditional Indian Architecture

A Cultural Place

To list, Britain, Egypt, China, Iran, Spain, Italy, Russia, Japan and India is to name just a few countries where traditional homes have courtyards. It seems courtyards are in the human civilization’s DNA and they have evolved uniquely the world over by absorbing the defining qualities of their regions. By putting the traditional Indian courtyards in the spotlight, we discover that they have performed many different roles in our residences such as being the home of the sacred Tulsi (Basil) and a place of worship, to being a venue for a family marriage, gathering or a festival, to being a site for a Havan (offering prayers to God in front of fire) and other rituals, to being a setting for a beautiful garden and home-grown fruits and vegetables etc. [Read more…]

Explaining Tax Gains from Different Property Deals

Over the years, real estate has grown as a preferred investment option. Some have inherited the property from their ancestors, while others buy and sell real estate- but when it is sold, the motive in both cases is to earn capital gains. However, irrespective of how you have acquired theproperty, when you earn capital gains, the Income Tax Act has its eyes on you.

Explaining Tax Gains from Different Property Deals

Explaining Tax Gains from Different Property Deals

So, let’s talk about different real estate transactions and the types of tax implications they entail-

Properties Inherited or Gifted

When you sell your ancestral property or one that is gifted to you by someone, you will obviously incur capital gains/loss which will be taxed, even though you might not have spent a penny on acquiring it. In case of gifts, the cost to the previous owner indexed to the year of purchase will be used as the acquisition cost of the property. [Read more…]

This Holi, Give Your Home A Colorful Décor

Holi is a big Indian festival. Transcending the boundaries of culture and religion, every year Holi unites us with our family and friends and enables us to celebrate the joys of life with full fervor. Also, Holi marks the end of winters and the beginning of spring, a reason to rejoice in its own regard for our agrarian society. As it is during all our festivals, we decorate our homes and make them a part of our celebrations too.

This Holi, Give Your Home A Colorful Décor

This Holi, Give Your Home A Colorful Décor

Below are a few tips on decorating your home this time in the colorful festival of Holi:

Embellish your Walls

This Holi, do not wait for that time of the year when you get your home painted and instead go DIY (Do it yourself!) right now by drenching your home’s walls in exuberant colors. Not only that, this time you can also try color-blocking your home’s walls by choosing two colors and painting the wall with them in a pre-decided unique pattern to give the wall an innovative mix. Moreover, the walls can also be decorated with wall-hangings, paintings, floral wall papers, framed pictures and fashioned patterns to elevate their festive factor up by quite a few notches. [Read more…]

Smart Shelving Ideas for Your Living Room

Does your living room need an overhaul? Have you lost that loving feeling for your living room? Chances are it does not have enough storage space. Keep your living room clutter free with storage that is handsome and handy. Some of the ideas below will help you to get that relaxing vibe again and help you remove or organize the unappealing clutter.

Smart Shelving Ideas for Your Living Room

Smart Shelving Ideas for Your Living Room

Fill a wall with shelves

Smart shelves provide a combination of storage space for DVDs and books, as well as surfaces that can be used to display photographs and accessories. Breaking shelves into areas makes sure that they don’t overwhelm the space. Paint the back of a shelving unit in a bright stand-out color so that your wall of books becomes the focal point of your living room. [Read more…]

Co-signing a Home Loan? Here’s All You Need to Know

Home is really big ticket item for a middle class individual as it entails several financial commitments. Mortgage loan, or simply a home loan, is also a huge commitment and involves a whole bunch of paperwork. But the most important thing is the income and credit score after which you qualify for a loan. For those who have an income lower than the eligibility levels, the banks also give the opportunity of inviting co-borrowers into your loan.

Co-signing a Home Loan? Here's All You Need to Know

Co-signing a Home Loan? Here’s All You Need to Know

Now, if you have been asked by a close friend or a relative to be a co-signer for his home loan, do not just jump into the deal. You might completely trust your friend, but you should not forget that it’s a dog eat dog world. So before you agree, here are a few facts related to co-signing that you must consider-

Responsibility Comes With Risks

Co-signing a home loan is not just a goodwill exercise that you can do for your friends. It puts on you as much responsibilities as the primary borrower himself. If the primary borrower fails to make the payment or if anything else goes wrong, you will be held equally responsible. The proceedings and payments of this loan will also have direct impact on your credit score. [Read more…]

The Perfect Nursery for Your Toddler

The decisions that come with having a baby and raising a tiny human being are endless. And also can be quiet daunting. Designing your little one’s nursery can actually be fun. The most important thing that you can do in creating this space is to design a nursery that will bring a smile to your face and help you relax and enjoy. After all, you are going to spend a lot of time in the room.

The Perfect Nursery for Your Toddler

The Perfect Nursery for Your Toddler

Here are a few ideas to set up a beautiful nursery for your growing kid-

Opt for neutral wall colors– Gone are the days when pink was the color for girls and blue for boys. Give your child the space to grow up in a world without any preconceived notions and limitations about gender. Instead use colors in accent pieces such as toys, pictures and rugs to add that vibrant color touch. Natural shades and soft colors affect your mood and will give your child a lot of space to work with accessories of different colors. [Read more…]

Is Wallpaper Right for Your Home?

A fresh paintjob of your home, within a year or two, has been a staple of Indian homes since ages. Each year, mainly during Diwali, the advertisement channels go berserk in reminding us to get our home repainted with the newest and finest paint out there. Taking note of its importance, repainting a home seems to be a tradition of its own in India. However, modern times are painting a new picture on this canvas for Indian households through the painting alternative, wallpaper.

Is Wallpaper Right for Your Home?

Is Wallpaper Right for Your Home?

Wallpapering homes has been long done in other parts of the world and is now a rapidly growing trend in India. And so, before plunging our walls into the world of wallpapers, it would be nice to go through its various aspects first and then decide for ourselves. [Read more…]