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There is a difference between a semi-furnished apartment and a furnished apartment. However, in absence of a proper yardstick, prospective tenants should select wisely, depending upon the amenities, their budget and their needs

Most builders often develop bare-shell apartments and hand it over to their occupants. The buyers, based on their needs and budget, either choose to start living in these or rent it out to prospective tenants. Consequently, newly-developed residential destinations, generally have a healthy mix of ready-to-move-in residential apartments, for those seeking rental accommodation. Based on the amenities available, these apartments are generally categorised as ‘fully furnished’, ‘furnished’ or ‘semi-furnished’.

Builders aim to entice customers by offering various discounts, incentives, and prizes on their semi-furnished, furnished, and unfurnished flats. As a result, purchasers and tenants must be aware of the differences between the three types of flats. So, here is the difference between furnished, semi-furnished, and fully furnished flats:

Semi-furnished apartment

This category of housing is very similar to bare-shell apartments, with minimum basic amenities such as lights and fans. These apartments may or may not have a shelf or cupboard in all its rooms.

These flats might comprise a wide range of properties that can be fully furnished. As these apartments are not fully equipped, you may discover fewer conveniences than in fully furnished apartments.

Pros

• The apartments can easily be furnished with furniture that can be purchased and installed.
• You can also install the appliances of your choice.
• In comparison to furnished apartments, the rent and security deposit will be lower.
• You can personalise such apartments by putting things in them that you like.
• You won’t hear anything from your landlord if you damage anything because the items are solely yours.
• In such residences, you can add or remove stuff as needed.

Cons

• When you leave the flat, you must take all of the items that you placed during the decorating process with you.
• To design your flat, you will need to purchase several household objects, which will be an additional cost to you.
• Designing and furnishing the flat might be a tiring and time-consuming task.

A furnished apartment

The term can be confusing at times. This is not a definitive term and does not bind an owner to provide the exact number of amenities to his tenant. Most often, this term means that the apartment will have cupboards and shelves, cabinets, a modular kitchen and lights and fans. If you are looking for something more, you should negotiate with your landlord. If he is willing to put an air-conditioning system within the same cost, consider yourself lucky.

However, the owner is not required to supply all of these services. So if you are a student or bachelor, then a furnished apartment makes more sense as you will get all the basic amenities.

Fully-furnished apartment

A fully-furnished apartment, however, may have all of the above, including air-conditioning and water heaters in the bathrooms. In addition to these, if the apartment is a serviced apartment, it will be run like a hotel, with the assistance of a facility management team. A serviced apartment will have all kinds of amenities in the rooms – the kitchen will stocked with grocery and regular kitchenware including a refrigerator and microwave oven, the rooms will have bed linen and extra towels and the apartment will also have a telephone connection.

In India’s rental market though, serviced apartment projects are few. In the rental market, home owners generally limit themselves to providing a ‘furnished’ apartment. Suraj Kumar, a Noida-based broker, says, “A fully-furnished apartment is difficult to find in our cities. Only serviced apartments provide that kind of services. Largely, you will only find furnished apartments, with limitations and the tenant will have to make provisions for other important things.”

The benefits and drawbacks of renting a fully furnished apartment are as follows:

Pros

• When you move into a completely furnished apartment, you’ll find nearly all of the furniture, appliances, and supplies you’ll need to live comfortably and also save money.
• All you have to do is buy food and carry personal stuff as well as perishable products with you.
• You can leave the flat when you want, and you won’t have to lug about a lot of extra belongings.

Cons

• Not quick and easy to find one.
• You don’t have the freedom to decorate as per your choice.s
• The rent will be higher, and you will be required to spend a significant amount of money on security and other amenities.
• Since the apartment will be furnished with all necessary household objects, there will be very few empty places.
• As the objects placed in the apartment are the landlord’s property, you will have to maintain them as well.

Difference between various categories of furnished apartments

While there is visible difference in these three categories, the apartments also differ in rental rates. In general, there is a difference of around 10%-15% in rental values, between a bare-shell apartment and a furnished apartment. On the other hand, the rental rate of a fully-furnished apartment or a serviced apartment may be many times higher.

Manish Mishra, a facility manager with a large company and based out of Jaipur, explains that “The rental rate of a serviced apartment or a fully-furnished apartment, may be on the higher side and is often meant for people with deep pockets or business travellers. The demand for such units mostly comes from foreign tourists who wish to reside here for medium to long term.” Often a fully-furnished apartment is customised on demand and as per the request of the tenant.

Since semi-furnished and fully-furnished apartments are more popular than furnished apartments, let’s look at the difference between the two in-depth to help you make a clear decision.

Clear distinctions: Semi-furnished vs fully furnished

1. The living area

A completely furnished apartment’s living room should include couches, a coffee table, end tables, bookshelves, lamps, window drapes and shades, and sometimes a workstation or chair.

Electronics and entertainment items, such as a TV and a sound system, may also be found.

Living room telephones are also quite common.

On the other hand, a semi-furnished apartment will just contain drapes, possibly a couch or two, and ordinary light fixtures.

2. Dining area

The dining room in a furnished apartment usually includes a dining table and chairs, as well as a few ornamental plants or artwork if your landlord is generous.

You might find a dining table and a few seats in a semi-furnished apartment, but keep your expectations low.

3. Bathroom

In addition to the conventional fixtures, a completely furnished apartment includes a shower curtain, curtain liner, bathmat, toothbrush holder, toilet brush, toilet cleaner, trash bin, towels, and a soap dish.

You might find a bed frame/headboard, a dresser, and closet space at most in a semi-furnished apartment.

4. Bedroom

A bed frame or headboard, a mattress and its cover, a dresser, a nightstand, and closet space are normally included in a fully furnished apartment‘s bedroom. You may also receive linens such as sheets, pillows, comforters, and blankets, depending on your landlord. Table lights, drawer hangers, a clock radio, artwork/decorations, and wastebaskets are some of the other objects you might find.

Expect a bed frame/headboard, a dresser, and closet space at most in a semi-furnished apartment.

5. Kitchen

When it comes to the kitchen in a fully furnished apartment, there are some differences, but you should be able to find main equipment like a microwave, refrigerator, stove, oven, and dishwasher, as well as basic fixtures like kitchen cupboards and drawers. Other items include a coffee machine, oven mitts, blender, veggie peeler, glassware, cups and mugs, wine glasses, pots and pans, toaster, whisk, mixing spoon, utensil set, dinnerware, measuring spoons, etc.

In a semi-furnished flat, the kitchen is nearly bare, with most of them only having the most basic fixtures and maybe one or two big appliances at most.

6. All-purpose supplies

Fully furnished apartments, unlike semi-furnished apartments, typically include toilet paper, paper towels, bulbs, laundry detergent and baskets, broom and dustpan, iron with a ironing board, sockets, recycling bags, cleaning spray and supplies, and even appliance batteries.

7. Utilities

If your completely furnished apartment includes utilities like phone service and television, you’ll have to pay for them as part of your rent. These utilities aren’t usually included in semi-furnished flats, so you’ll have to ask for them to be installed.

8. Additional services

A fully furnished apartment may provide additional services such as housekeeping that a semi-equipped flat does not. You will, of course, have to pay for this, but it is occasionally included in the monthly rent.

Which type of apartment should you opt for?

If you are a landlord, the idea of a furnished apartment makes sense, if you wish to earn more as rental income.

The cost of furnishing the apartment, can be recovered within a period of 1 to 1.5 years. “Chances are that if you get a decent tenant, who keeps your apartment clean and cares for the belongings and furnishings, there will be minimum requirement for maintenance once he leaves. This way you can earn and save,” Kumar points out.

From the tenant’s perspective, a furnished apartment makes sense, if one has moved to a city only for a short period. Students can also look for such apartments.

The extra cost of Rs 2,000-5,000 per month on furnishings, will at least take care of the basic amenities. Nevertheless, the choice is subjective and depends on one’s needs.

Turn your semi-furnished or unfurnished home into a dream home with Housing Edge

Let us suppose that you have moved into your new home, an unfurnished or semi-furnished property and you have deferred the purchase of furniture for a while, due to lack of funds or for lack of choice. Maybe, you even postponed it, because you could not shop at your favourite furniture store due to the Coronavirus pandemic. With Housing Edge, a host of online services come handy in such cases. In this case, home buyers (even tenants) can opt for furniture on rent at affordable prices.

The process of renting furniture is easy with Housing Edge. All you need to do is choose the item from the product catalog, fill up the form with your details and the service provider, Rentomojo, will reach out to you with the best deals and offers on furniture renting.

Benefits of furniture on rent with Housing Edge

There are numerous benefits to renting furniture from Housing Edge. First of all, there is a wide range of products to choose from, made available by all the leading brands. This includes not just tables, chairs or sofa sets but electronic items like refrigerators, washing machines, fitness equipment, appliances such as mixer grinders or even gadgets like laptops. There are customised work-from-home packages, as well that is the need of the hour for many households.

Secondly, all products are properly sanitised. Despite COVID-19, your daily life should not suffer and Housing.com has gone ahead to provide you with a great living experience at your home and has tied up with trusted partners to bring you clean, sanitised furniture, electronics and much more.

Thirdly, the process of renting furniture with Housing Edge is very simple, with flexible payment options to enable you to use first and pay at your convenience.

Next, there is no compromise when it comes to the quality or design of the furniture. We have made sure that you have access to premium designs that will help you convert a regular home into a beautiful home!

Moreover, you can ask for easy upgrades, if you are happy or unhappy with the product.

What if you are switching cities? How would you take the furniture with you? Our partners will help you with free relocation and even free maintenance at any time. All you need to do, is beautify your home and sit back, while our partners will look after all your furniture-related needs.

Get More Information About Properties in Thane And For More Details Visit Propertythane.com Or Email Us On info@propertythane.com

Looking for a rental house in the metropolitan cities? We list the factors that prospective tenants should consider, before finalising a dealAffordability is a crucial factor, for people who are searching for a rental home in metropolitan cities. Besides the rental amount, maintenance costs, vehicle parking charges, etc., also impact the overall outgo. At the same time, a house that is well-constructed and designed and offers good amenities, can provide a healthy living experience. So how does one strike the right balance? Rajeev Jain, director of Nirmal Lifestyle, suggests that rental home seekers should choose a location, based on three to four issues, to maintain a balance.

Keeping rentals affordable

Experts point out that many properties come with facilities like swimming pool, club or gym, parking space, etc., which the owner is entitled to. However, these rights do not transfer to the licensee or the lessee, unless a clause is inserted in the agreement, specifying that such incidental amenities and associated facilities will be accessible by the occupant.“New homes in metro cities, come integrated with facilities like reserved parking, security surveillance, children’s play area, badminton court, club house, swimming pool and gymnasium, among others. Also, there are many options available in market, from low budget to high budget. So, tenants can now choose from a variety of properties,” points out Parth Mehta, managing director of Paradigm Realty. Nevertheless, while many housing complexes offer such luxurious facilities, tenants should only consider these, if it fits within their budget.

Things to keep in mind, while searching for a rental home in cities

While selecting a house, first check the rental rates in those areas. Find out if the areas you are keen on, have the sort of properties you want at prices that you can afford. According to Shveta Jain, managing director, real estate private wealth services, India, Cushman & Wakefield, “The important things to keep in mind, while searching for a rental home within affordable range in the metropolitan regions are:

Location of the property:

Factors such as connectivity (accessibility through road/rail transport), social infrastructure and proximity to employment hubs, determine the liveability of a location.

Credentials of the developer and owner:

Perform a thorough background check of the developer, vis-à-vis the number of projects he has completed, delivery timelines and the quality of construction.

Rent:

Ensure that the rental amount is within your budget and also find out if the rent being asked for, is justified and as per the prevailing market rate.

Lease agreement:

Pay great attention to the lease agreement, as it holds all the terms and conditions and legal clauses and implications, for all parties involved.”Besides checking the property, one should also check the neighbourhood and contact local brokers to gain information about the location and property. Last but not the least, consider the deposit amount, brokerage fees, maintenance charges, power and water supply in the area, tenure, possession and clauses in the rental agreement with landlord.

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Finding the appropriate place to rent is often a challenge, especially for bachelors and spinsters across India. When looking for rental housing, they frequently face discrimination, prejudice and restrictions due to their marital status. However, it is important to understand that everyone, regardless of their marital status or gender, deserves fair treatment and equal opportunities during renting.

Bachelors and spinsters, especially those living away from their hometowns for work or education, encounter numerous challenges while renting a home. Landlords and housing societies have biased approaches where they assume that unmarried individuals would be irresponsible, disruptive or involved in illegal activities. As a result, they implement arbitrary rules and regulations, which unfairly target bachelors and spinsters, making it difficult for them to find rental housing.

Some landlords expressly state that they only want families or married couples as tenants, while others subtly discourage unmarried applicants. Rental advertisements frequently include phrases, such as ‘family-only’, ‘no bachelor’, or ‘only for married couples’, fostering an environment in which discrimination is normalised. Furthermore, housing societies and apartment complexes impose strict rules on single occupants, effectively excluding them from certain residential areas.

The Indian law upholds the right to equality and non-discrimination. The Constitution of India prohibits discrimination based on marital status or gender. Several acts and legal provisions protect bachelors’ and spinsters’ rights in the rental space. The Equal Opportunity Act of 2020, which is the most visible of these, ensures equal treatment and opportunities for all citizens. This act eliminates discrimination and promotes inclusion in all aspects of life, including housing.

Most housing societies in India have a Resident Welfare Association (RWA) whose objective is to work for the improvement of the homeowners by maintaining the facilities and ensuring the society’s upkeep. However, there have been several cases where RWA judgements have violated the legal and constitutional rights of those living inside the society. At times, the regulations appear arbitrary, imposed by the whims of a small group of people in power in the RWA.

Landlords, in such circumstances, are forced to make choices, such as preferring families or married couples as tenants.

Furthermore, local rules and regulations change between states and cities. Some cities may have special rules for renting to bachelors or spinsters. To understand the unique legislation and requirements in your area, check with the local municipal authorities or seek legal assistance.

There have been debates about implementing rental housing legislation, which would provide extensive controls to both landlords and tenants. Hence, modifications or adjustments to rental laws and regulations may be possible in the future.

One must ensure fair treatment and equal opportunities for bachelors and spinsters in home renting. It is crucial to promote awareness and enforce existing legal protections by strengthening legal provisions. The government must strengthen and enforce existing laws, which prohibit discrimination in housing. Strict penalties and consequences for the guilty can act as deterrents. Alongside, there is a need to launch awareness campaigns to educate people about the rights of bachelors and spinsters in home renting. These campaigns must emphasise the importance of equality, challenge stereotypes and promote inclusive housing practices. Rental portals can play a vital role in eliminating discrimination. They could include the option to filter out discriminatory listings and encourage landlords to treat all tenants equally. Furthermore, they can display guidelines promoting fair housing practices. Establishing effective complaint mechanisms could empower individuals to report instances of discrimination and seek legal recourse. Dedicated helplines or online platforms could be created to ensure easy access to justice for those facing housing discrimination.

Sensitisation programmes for landlords, housing society members and real estate professionals could address stereotypes and biases, encouraging inclusive housing practices.

Giving equal access to housing is a fundamental right, which should be enjoyed by every citizen, regardless of marital status or gender. Therefore, discrimination against bachelors and spinsters in the rental market violates their rights and hinders social progress. By enforcing existing legal protections and raising awareness, this could be mitigated in the future.

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Introduction:

If you require funds for personal or business purposes, a loan against property can be a smart financing option. This secured loan allows you to leverage your property as collateral, giving you access to adequate funds you can use for any purpose.

However, since you put up your valuable asset as security to get this loan, it’s crucial to proceed cautiously. To help you make informed decisions and avoid potential financial risks, we’ve compiled a list of essential dos and don’ts to keep in mind while applying for a loan against property.

Must-Do’s:

1. Research the lender

The most important thing you must do before applying for a loan against property is to conduct thorough research on the lenders. Review each lender’s profile, including loan terms, maximum tenure for loan against property, and other relevant information.

Choosing a lender in haste can cost you heavily for the entire tenure, so do your due diligence

2. Assess your eligibility

To secure a loan against property, you must meet specific eligibility requirements. This is because if you don’t meet these requirements, the lender may reject your loan application.

To check the eligibility criteria, you can visit the lender’s website.

3. Check the interest rates

Interest rates for loans against property vary from lender to lender. So, before applying for a loan against property, it’s best to compare the interest rates of different lenders and choose the one that offers the best deal.

Even a difference of a half-point percentage in the loan against property interest rate can save you thousands, if not lakhs.

4. Maintain a good credit score

If you want to apply for a loan against property, having a good credit score can be beneficial. A good credit score can help you get a larger loan amount at a lower interest rate. Therefore, it’s essential to maintain a good credit score.

In case you don’t have a good score, you can improve it by paying off your credit card bills and clearing any other dues you may have.

5. Get a property valuation

When you apply for a loan against property, you pledge your asset as collateral. The loan amount that you receive is based directly on your property’s valuation. So, before applying for a loan against property, know your property’s value, considering its location, size and age.

If you have a high-value property in a good location, you can get quick approval for the loan since the lender considers it low-risk.

Don’ts

1. Do not ignore the loan tenure

A loan against property offers a longer tenure than personal loans. A longer tenure means a lower EMI but a high-interest rate. Comparatively, a shorter tenure means higher EMIs but lower interest rates.

Therefore, choosing the right term is essential and depends solely on your repayment capability. You can use an EMI calculator to select the tenure that best suits your needs.

2. Do not miss repayment dates

There may be times when you are tempted to skip your EMI. But don’t, as it can adversely affect your credit score, making it difficult for you to get loans in the future.

Therefore, always ensure that you pay your EMIs on time. This will help you avoid penalty charges while maintaining a good credit score.

3. Do not take a loan against a property under legal disputes

Lenders don’t accept properties involved in legal disputes or those with an existing lien as collateral. Consequently, if your property falls into either of these categories, your loan application will likely be rejected.

Therefore, before applying for the loan, thoroughly evaluate the quality of your collateral.

4. Don’t forget about the disbursal time

If you can’t get the funds when you need them, then what’s the use of getting a loan in the first place? That’s why when you apply for a loan against property, don’t forget to consider the disbursal time. Many lenders disburse the loan amount within 72 hours of approval and the completion of paperwork, so it’s worth checking with them before finalising your loan.

5. Don’t be careless with the paperwork

The common mistake people often commit while applying for a loan against property is not thoroughly going through the loan clauses.

The details are always hidden in the fine print. So, go through each and every term and condition properly to avoid any surprises in the future.

To end

A loan against property is a valuable financial tool that can help you during a financial crunch. However, it’s essential to be mindful of the dos and don’ts associated with the loan to avoid any potential financial pitfalls.

By ensuring timely payments and refraining from utilising the loan amount for non-essential expenses, you can reap the benefits of a loan against property while minimising the risks.

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Overview

When it comes to financing a dream home in India, potential homeowners often find themselves facing the critical decision of choosing between a bank home loan and a non-banking financial company (NBFC) home loan. Both banking institutions and NBFCs offer diverse home loan options, with each having its own set of advantages and disadvantages.

This article aims to provide an unbiased comparison between Bank Home Loans and NBFC Home Loans, highlighting the various aspects that need to be considered before making a decision.

Comparison of Home Loan from Bank vs NBFC

Home loans from bank vs. NBFC differ in various aspects, such as interest rates, processing fees, eligibility criteria and the loan disbursal process. While banks often offer lower interest rates due to their access to low-cost funds, NBFCs can be more flexible in terms of eligibility and documentation requirements. The processing time and customer service experience may also vary between the two.

Thane City boasts excellent connectivity to various parts of Mumbai and beyond. The well-established network of roads, highways, and railways ensures easy accessibility to the city’s major employment hubs, educational institutions, and entertainment zones. Whether you need to commute to work or travel for leisure, living in a 1 BHK home in Thane City allows you to save time and enjoy a convenient lifestyle.

Advantages of Taking a Home Loan from a Bank

Lower Interest Rates:

Banks usually offer lower interest rates on home loans than NBFCs, owing to their access to low-cost funds from the Reserve Bank of India (RBI) and deposits from customers. This can lead to significant savings on interest payments over the loan tenure.

Better Transparency:

Banks are subject to stricter regulations and supervision by the RBI, resulting in better transparency in their operations and loan processes. This makes it easier for borrowers to understand the terms and conditions of their home loan and avoid any hidden charges

Access to Additional Services:

Banks typically provide a wide range of financial services, such as savings accounts, credit cards and investment options. Opting for a home loan from a bank can make it convenient for borrowers to access and manage these services under one roof.

One of the leading banks in India offers competitive interest rates for home loans. In addition to lower interest rates, bank customers also benefit from various concessionary rates for women borrowers and existing customers with a good repayment history. Furthermore, home loan borrowers have the convenience of accessing other financial services, such as savings accounts, credit cards, and investments, making their financial management much more streamlined.

Disadvantages of Taking a Home Loan from a Bank

Stringent Eligibility Criteria:

Banks generally have stricter eligibility criteria, including higher credit score requirements, which can make it difficult for some borrowers with a lower credit score to qualify for a home loan.

Rigid Documentation Requirements:

Banks tend to be inflexible when it comes to documentation, requiring a long list of documents for loan approval, such as income tax returns, bank statements and property documents. This can be a hassle for borrowers who may not have all the necessary documents readily available.

Advantages of Taking a Home Loan from NBFC

Flexible Eligibility Criteria:

NBFCs are known for their flexible eligibility criteria and are more willing to cater to borrowers with lower credit scores or unconventional income sources, making it relatively easier for many applicants to qualify for a home loan.

Faster Processing and Disbursal:

NBFCs generally have quicker loan processing and disbursal times than banks, as they are not subject to the same level of regulatory oversight. This can be advantageous for borrowers who need funds urgently.

Customised Loan Products:

NBFCs often offer specialised home loan products tailored to the specific needs of different customer segments, such as self-employed individuals, salaried professionals or non-resident Indians (NRIs).

Disadvantages of Taking a Home Loan from NBFC

Higher Interest Rates:

NBFCs tend to charge higher interest rates on home loans than banks, as they source their funds from the market at higher costs. This can increase the overall cost of borrowing. However, the rate difference is not large compared to banks.

Limited Range of Services:

Unlike banks, NBFCs may not offer a wide range of additional financial services, such as savings accounts or investment options, which could be a disadvantage for borrowers seeking a comprehensive financial solution.

Conclusion:

In conclusion, the decision between taking a bank home loan and an NBFC home loan ultimately depends on the specific needs and circumstances of the borrower.

To make the best choice, borrowers should compare the interest rates, processing fees, loan features and customer service quality of different banks and NBFCs before deciding on a home loan provider. They should also evaluate their financial situation, credit score and long-term financial goals to determine which institution will best meet their needs. By carefully considering all of these factors, borrowers can make a well-informed decision that will help them secure their dream home and achieve their financial objectives.

Get More Information About Home loan for buying a property in thane And For More Details Visit Propertythane.com Or Email Us On info@propertythane.com

Searching for the perfect real estate project in Thane can be an exciting yet overwhelming experience. With numerous options available, it’s crucial to consider specific factors that will ensure you make a wise investment and find a home that suits your needs and preferences.

Here’s a detailed exploration of what to look for in the best real estate projects in Thane:

India has been developing and showing significant growth in various sectors. The commercial real estate sectors where the NRIs can invest are:

1. Location:

The location of a real estate project is a fundamental aspect to consider. Thane boasts various neighborhoods, each offering unique advantages. Look for projects situated in areas that provide easy access to essential amenities like schools, hospitals, shopping centers, and transportation hubs. Additionally, consider the neighborhood’s safety, proximity to recreational spaces, and the potential for future development and infrastructure enhancements. A well-connected and thriving location will enhance your lifestyle and ensure convenience in your daily routine.

2.Developer Reputation:

The reputation and track record of the real estate developer behind the project play a significant role in your decision-making process. Research the developer’s history, their completed projects, and customer feedback. Look for developers known for their quality construction, timely delivery, and transparent dealings. A reputable developer instills confidence in their buyers, ensuring a smooth and reliable home-buying experience.

3. Design and Architecture:

The design and architecture of a project contribute to its overall appeal and functionality. Consider projects with well-planned layouts that optimize space utilization, natural lighting, and cross ventilation. Look for thoughtful design elements that enhance the aesthetics and create a harmonious living environment. Features like spacious balconies, smart storage solutions, and efficient floor plans can significantly enhance your daily living experience.

4. Amenities and Facilities:

Evaluate the range and quality of amenities and facilities provided within the project. Modern residential projects often offer a plethora of amenities to cater to residents’ diverse lifestyles. Look for features such as a clubhouse, swimming pool, fitness center, landscaped gardens, sports facilities, children’s play areas, and dedicated security systems. These amenities enhance your quality of life, provide opportunities for recreation and relaxation, and create a sense of community within the project.

5. Construction Quality:

The construction quality of a project is of utmost importance for long-term durability and maintenance. Inspect sample apartments or completed phases to assess the construction quality, materials used, and attention to detail. A well-built project ensures structural integrity, minimal maintenance requirements, and long-lasting value. It’s advisable to opt for projects constructed by reputed builders with a proven track record of delivering high-quality projects.

6. Legal Compliance:

Ensure that the project has obtained all necessary legal approvals and clearances from relevant authorities. Legal compliance ensures that the project meets the required regulations and minimizes the risk of legal complications in the future. Verify the project’s adherence to local building codes, environmental norms, and necessary certifications to ensure a hassle-free and legally secure investment.

7. Price and Affordability:

Consider the pricing and affordability of the project within your budgetary constraints. Evaluate whether the prices are justified by the amenities, location, construction quality, and future prospects. Additionally, inquire about the payment plans, financing options, and any additional charges or fees involved. It’s essential to strike a balance between your financial capabilities and the value offered by the project.

8. Resale and Rental Potential:

Analyzing the resale and rental potential of a project is crucial if you plan to invest for future gains or as a rental property. Factors such as location, connectivity, amenities, and infrastructure developments influence the property’s appreciation and rental demand. Assessing these factors will help you gauge the long-term investment potential and ensure a favorable return on investment.

9. Builder’s Track Record:

Evaluate the builder’s track record in terms of project delivery, quality of construction, and adherence to timelines. Look for builders with a proven history of completing projects successfully, as this ensures that your investment is in safe hands.

10. Infrastructure Development:

Assess the ongoing and proposed infrastructure development in the vicinity of the project. Infrastructure improvements such as road expansions, metro connectivity, and upcoming commercial or business hubs can have a positive impact on the property’s value and overall livability.

11. Surrounding Environment:

Take a close look at the surrounding environment of the project. Consider factors such as noise levels, pollution, green spaces, and views. A serene and well-maintained environment adds to the overall ambiance and livability of the project.

12. Appreciation Potential:

Consider the appreciation potential of the project in the long term. Thorough research on the real estate market trends, future developments, and demand-supply dynamics will help you assess the growth potential of the property and make an informed investment decision.

13. Social Infrastructure:

Evaluate the availability of social infrastructure such as schools, hospitals, shopping centers, and entertainment options in the vicinity. Easy access to these facilities enhances the convenience and quality of life for residents.

14. Legal Documentation:

Carefully review the legal documentation related to the project, including the title deed, development agreement, and all necessary approvals. Seek professional advice if required to ensure that the property has a clear title and is free from any legal encumbrances.

15. Builder’s After-Sales Service:

Find out about the builder’s after-sales service and maintenance policies. A reputable builder will have a dedicated customer service team to address any post-possession concerns or maintenance issues that may arise.

Remember, purchasing a real estate property is a significant investment, so it’s essential to conduct thorough research, visit the site, and seek advice from real estate professionals. By considering these factors, you can choose the best real estate project in Thane that not only meets your current needs but also offers long-term value and a desirable living environment.

Don’t hesitate to schedule a site visit and engage with the builder’s representatives to get a firsthand experience of the project and gather all the necessary information. With careful consideration and due diligence, you can find your dream home in one of Thane’s best real estate projects.

Get More Information About Residential Flats for sale in Thane And For More Details Visit Propertythane.com Or Email Us On info@propertythane.com

The future of real estate lies in digital marketing. The results are quite often transformative.

While it is a fact that people will not make a final decision without looking at the property in person, investors will do thorough research before viewing it. This is why real estate digital marketing is all the rage and predicted to become more popular with each passing day.

SThe internet has revolutionized everything. The real estate world is no different. No longer are ads posted in the local paper, or flyers passed out or billboards rented for the mere purpose of getting people interested in your property.

These outdated tactics alone will get you nowhere.

If you want to be appreciated as a real estate Mughal, you must up your digital marketing game.

The real estate market is estimated to increase by 2.3% this year alone. The competition will get fierce as more players enter the field. Approximately 80% of home buyers search online for a possible house.

Visuals are vital if you want to maintain a solid online presence leading to 83% of searchers hoping to see a picture of a house. In addition, 91% of realtors use social media for free marketing.

These real estate digital marketing stats indicate that trends are shifting, and keeping up with them is the only way to endure and come through these turbulent currents.As Antoine de Saint-Exupery said, “A goal without a plan is just a wish.” So let’s dive right in!

What Is The Goal?

Real estate revolves around a vicious circle of marketing and focusing on deals. You focus on marketing when there are no real estate deals. After that round of marketing is successful, you get busy and don’t keep up with the marketing. When you’re not busy, there are no more leads because you didn’t do more marketing. This is the time to break that cycle. Having a plan means keeping yourself from falling back into this cycle. But what is the goal of your plan? What does it focus on? If your plan covers the following four aspects, then you’re good to go:

• Growing your database
• Increasing referrals
• Improving your lead conversion
• Enhancing brand awareness on social media

Who’s Your Audience?

The first step of implementing a plan is deciding who your target is? Relevancy is key in this step. By segmenting your audience, you can produce relevant content.

If your real estate digital marketing strategy tries to appeal to everyone simultaneously, you will definitely be ignored. Most of the content in real estate focuses on the buyer, but seasoned realtors know that their actual business comes from past clients and sellers. So going after only buyers 95% of the time doesn’t make sense. Hone in on your target audience and witness the magic of digital marketing.

Which Channels To Use?

All of them. That’s right. Being omnipresent works wonders in this day and age of digital marketing. Provided you do it right!

Tailor your message for every social media channel. For instance, what makes a great Facebook post won’t work for Twitter.

What Type Of Content Is Suited For Real Estate?

A typical month of marketing should consist of targeting sellers mostly instead of buyers and promoting your listings in the meanwhile. It’s recommended to target past clients or sellers 3 out 4 weeks of the month. You should also market every listing you get while running these campaigns.

You can create a teaser with a ‘coming soon’ campaign. Soon after that, you can run the ‘just listed’ campaign. Your database will be grateful to get a sneak peek before everyone else turns your content into a magnet. After listing the property, you can market it further by hosting an open house or offer a price reduction for the first ten potential customers. Who doesn’t love a bargain?

Show off your success by considering a ‘just sold’ campaign. The sale is a testimony to your skills and let the results speak for themselves.

‍How Much Budget Should You Put In Real Estate Digital Marketing?

Creating a budget for your digital marketing needs is necessary so that you don’t get carried away. A budget depends on your goal and which platforms are being used. Be prepared to spend 50% of your marketing budget on digital ads. This includes everything from designer salaries to lead qualification services.

7 Proven Ways for Realtors to Boost Sales with Digital Marketing

• Create a User-friendly Website
• Spend Time On Search Engine Optimization For Real Estate
• Utilize Google Ads For Quick Results
• Craft A Social Media Marketing Strategy
• Create an Email Marketing Campaign for Real Estate Business
• Make Use Of Video Content
• Manage Online Reputation Through Reviews

1. Create a User-friendly Website

Often, your business loses clients because of your slow-loading website, it isn’t user-friendly, or it doesn’t work with smart devices. Real estate websites can be chaotic with so many links and photos causing more trouble than it’s worth.

This is why it’s integral for your business to have a successful SEO strategy which can create a website that has relevant content that attracts potential clients.

Make sure you list all your available properties in an easily comprehensible way. To show them that you’re in it for the long haul, it would be ideal to include a list of services they may need, such as cleaners, movers, and home inspectors.

2. Spend Time On Search Engine Optimization For Real Estate

Real estate digital marketing strategy is built on SEO since most people will start with a Google search when looking to lease, buy or sell a property. SEO is the only way to boost your website’s ranking in organic search results.

Your content should primarily be focused on local SEO since many people search for “houses for sale in {city}.” 70% of buyers search for a specific location, meaning you could miss out on big business if your website and social media aren’t SEO-based.

3. Utilize Google Ads For Quick Results

Google Ads is a cost-effective way of generating new leads based on personalized ads. It works because it’s simple. Your designed images and text for your ad gets clicked on, and you pay. This strategy gives you a trial run for different ads, assesses the effectiveness, and then you pay for what works.
Paid Searches is much faster than SEO and lets you hit the ground running when implementing a real estate digital marketing strategy.

4. Craft A Social Media Marketing Strategy

Social media has transformed the real estate market with unlimited potential to connect with potential customers and grow their business. You can build a brand, provide valuable information, and connect directly with followers to promote a positive image with social media.

Through a recent study, The National Association of Realtors proved that most realtors choose LinkedIn, Facebook, and Instagram to connect with their real estate company.

Another added advantage is that you can highlight your success stories and give proof of your excellent services. A noteworthy tool that can help you navigate the social media waters is Buffer.

5. Create an Email Marketing Campaign for Real Estate Business

Email marketing is the underdog of digital marketing. It works wonders and brings you an exceptional return on investment. Email drip campaigns have stood the test of time in being effective in nurturing leads through the marketing funnel.

Most realtors focus on lead generation but don’t follow up on it once they have the lead. With email drip campaigns, you can conveniently nurture those leads and stay on the mind of your potential buyers and sellers. Consider using tools such as MailChimp to get a jump start on your email campaign.

6. Make Use Of Video Content

Photos don’t do justice to the property, which could go either way for potential buyers or renters. Images don’t convey neighborhood, light quality, character, or vibe. Video is revolutionizing real estate. Many brokers claim that real estate video marketing has become an essential element of their digital marketing strategy. Videos help realtors in the following ways:

• Explain things with clarity.
• It allows them to book more meetings.
• It saves time since one video can be shared on all social media platforms and with potential clients.
• It drives deals faster and cements a personal connection.

Vidyard has become a popular platform for realtors to showcase their real estate through videos.

7. Manage Online Reputation Through Reviews

Your online presence is your real-world resume which is always being updated. Each review you get either from Facebook, Instagram, Zillow, or Google can be the cornerstone for your business. Many consumers do their own due diligence without an agent. If you want to be the name that pops off the screen for being authentic and original, then your online reputation is the way to achieve it.

Why Do Real Estate Firms And Brokers Need Digital Marketing

Here are some hard facts about the benefits of real estate digital marketing in 2021.

• Three times more leads are generated through content marketing when compared to other conventional marketing methods.
• Small businesses with blogs boast more lead growth than those that don’t.
• Digital marketing provides 6X higher conversion rates from brands that aren’t.

If these aren’t convincing enough, research has proven that digital marketing by real estate firms can help them create brand awareness and collect social proof. Video marketing can help brokers lock more deals and help home buyers complete purchase cycles in less time.

Because 93% of product searches start from search engines, real estate brokers and firms can leverage the power of SEO to appear higher in Google results. With PPC, social media ad campaigns, and email marketing, more clicks can lead to higher conversion.

Real Estate Digital Marketing Services

Selecting a real estate digital marketing agency from the many that claim to bring about your desired results is a daunting task. Investing in digital marketing is a milestone for any business which means entrusting your brand to strangers. It is important to know what they bring to the table before handing over your future in their hands.

A real estate digital marketing company helps you grow website traffic, enhance brand reach, generate sales that turn into leads, and become an extension of your company. Make sure to research 3-4 agencies and learn about their process, how much they cost, and their minimum commitment period before deciding. Be clear with your expectations and ask for previous case studies for evidence of the results they boast. One such prominent name in the business is Think Orion. They support your brand with creative and strategic support and have become a proven name in bringing long-term impacts to all the big leagues they have worked with. They have offices worldwide, including Singapore, Dubai, and Toronto. They are a full-fledged digital marketing agency that caters to all your goals for your specific brand/product.

‍Wrapping Up…

Real estate digital marketing comes down to how well your campaign is being implemented. It pays off to take some extra effort to stand out from the crowd since every realtor and broker utilizes digital marketing campaigns as part of their marketing strategy. Reaching more people isn’t just the priority, but it’s in the quality of the conversion that you will find your fruits.

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Introduction:

Thane City, located in the outskirts of Mumbai, has emerged as a preferred residential destination for many homebuyers. With its excellent connectivity, robust infrastructure, and serene surroundings, Thane offers a perfect blend of comfort and convenience. If you’re on the lookout for affordable 1 BHK homes in Thane City, you’ve come to the right place. In this article, we will explore the benefits of owning a 1 BHK home in Thane City and provide valuable insights to help you make an informed decision.

Affordability:

Thane City offers a range of affordable housing options, making it an ideal choice for individuals and families looking for budget-friendly homes. The demand for 1 BHK homes in Thane is on the rise due to their competitive pricing, making them an attractive investment opportunity. With numerous real estate developers offering affordable housing projects, you can find a 1 BHK home that fits your budget without compromising on quality or amenities.

Excellent Connectivity:

Thane City boasts excellent connectivity to various parts of Mumbai and beyond. The well-established network of roads, highways, and railways ensures easy accessibility to the city’s major employment hubs, educational institutions, and entertainment zones. Whether you need to commute to work or travel for leisure, living in a 1 BHK home in Thane City allows you to save time and enjoy a convenient lifestyle.

Robust Infrastructure:

Thane City has witnessed significant infrastructural development in recent years. From well-maintained roads to reliable water and electricity supply, the city offers a comfortable living experience. Many residential complexes in Thane are equipped with modern amenities like swimming pools, gyms, gardens, and community centers, ensuring a fulfilling lifestyle for residents. Investing in a 1 BHK home in Thane City means you can enjoy a well-rounded living experience without stretching your finances.

Serene Surroundings:

Thane City is known for its serene and picturesque surroundings. With lush green spaces, beautiful lakes, and ample open areas, the city provides a peaceful environment away from the hustle and bustle of Mumbai. Owning a 1 BHK home in Thane City allows you to enjoy a harmonious blend of urban living and natural beauty, enhancing your overall quality of life.

Future Growth Prospects:

Thane City’s real estate market is witnessing steady growth, making it a promising investment opportunity. The demand for affordable housing options is expected to rise further, ensuring potential appreciation of property value over time. By investing in a 1 BHK home in Thane City now, you not only secure a comfortable abode but also set the stage for future financial gains.

Conclusion:

Finding an affordable 1 BHK home in Thane City offers a perfect combination of comfort, convenience, and affordability. With its excellent connectivity, robust infrastructure, serene surroundings, and promising future growth prospects, Thane City presents an ideal choice for individuals and families looking to own their dream home. Take advantage of the opportunities available in Thane’s real estate market and make your dream of owning a 1 BHK home a reality today.

Remember to research thoroughly, explore different projects, and consult with reputable real estate professionals to find the best affordable 1 BHK home in Thane City that suits your requirements. Happy house hunting!

PropertyThane.com is your go-to platform for finding the perfect 1 BHK home in Thane City. With a vast database of properties, comprehensive search filters, and detailed property listings, PropertyThane.com makes it easy for you to explore and compare various options. Whether you’re looking for affordable homes, specific amenities, or preferred locations, PropertyThane.com provides the tools and resources to help you make an informed decision and select your ideal 1 BHK home in Thane City.

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Mentioned below are steps a home buyer can take, if his income sources have been adversely impacted because of this crisis.

The unemployment rate in India rose to 8.30% in December 2022 from 8.00% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on January 1, 2023. This is the highest this rate has been in 16 months. Individually, the urban unemployment rate rose to 10.09% in December from 8.96% in the previous month while the rural unemployment rate declined to 7.44% from 7.55%. Either way, this makes one wonder. How would one pay the home loan EMIs, if they were to lose their job?

Home buyers in India largely depend on housing finance to make a home purchase. This means a large number of buyers are under tremendous pressure due to the prevailing employment scenario. So, what should a home buyer in India do, if his income sources have been adversely impacted?

“Ideally, a home loan borrower should include his home loan EMI of at least six months in his emergency fund. Including this would allow the borrower to continue with his EMI payments, even during financial emergencies like job loss,” says Ratan Chaudhary, head of home loans,

Opt for EMI holiday, if available

If a bank allows EMI holidays, there are certain things that the beneficiaries must be mindful of. First of all, it is not an EMI holiday – you will have to pay the money later, with interest. A moratorium only means that you have got a few months’ relaxation without the late payment being categorised as a ‘default’ in your credit history. Additionally, whether the benefit is extended to you, would be your lender’s call and the interest to be charged for the delayed EMI payments would also be at the bank’s discretion.

Suppose your home loan EMI is Rs 40,000. Upon non-payment, this amount will be added to the loan principal. In the next month, the interest will be computed on the loan outstanding, along with Rs 40,000.

For a borrower who has been laid off, not taking this option is not actually an option. “While availing of the moratorium will cost them additional interest cost, it will give them at least a two-month window, to get a job or arrange funds from other sources, without hurting their credit score,” says Chaudhary.

Money from severance package

Once any moratorium period ends, a borrower will have to arrange the money to pay his home loan EMIs or face the usual consequences – the default would find a mention in your credit history and the bank would charge a penalty on each default, apart from the interest.

At this point, you may be forced to use the money from your severance package to make the payment. This amount would technically be equal to the salary of the number of months mentioned as your notice period under your job contract. You will for instance, get at least two months’ salary as part of your severance package, if your notice period is two months. Since this money is all you have for the time being, you have to be careful in spending it. While you use this money to pay the home loan for now, look for other options in case you are not able to find employment for the time being.

Use Fixed Deposit (FD), Recurring Deposit (RD) money

You could also depend on your FD and RD to make the EMI payment for the simple reason that the interest you currently get on these (SBI FD interest is 5.50% for a one-year tenure, at present) would be much less than the interest you would pay on home loans (SBI home loan interest rate on a loan size of Rs 30 lakhs is 8.50%), more so in case of a default.

“Those who have failed to make provisions for home loan EMIs in their emergency fund, can redeem their existing fixed income investments not tied to any crucial financial goals, such as retirement corpus, children’s education fund, etc.,” says Chaudhary.

Withdraw from Provident Fund (PF)

Using your UAN login, you can withdraw this amount that could help you to pay the home loan EMIs for some months, till you find alternate sources. The best part of the plan is that your request of withdrawal of the PF money will be addressed within three days. To understand the PF withdrawal process, read our complete guide on Member Passbook.

Liquidate assets

Sell gold, liquidate debt instruments: Investment in various debt instruments can be liquidated at this juncture, to pay the home loan. You could also pledge gold and jewellery, to arrange funds for home loan EMI payment.

You could also consider selling automobiles, furniture and gadgets that are not a necessity at this point.

Alternatively, you could also take loan against gold – the interest rate on loan against gold starts at 7.25% and goes up to 18% annually. Considering this is a secured loans, banks would process the loan request quickly.

Equity investments, opines Chaudhary, should not be touched, as this would mean converting your notional losses into real ones. “The ongoing correction in the equity markets would have already reduced their portfolios by at least 30%,” he says.

Borrow from family, friends

Look for family support: Borrowing from family members and friends who are in a position to lend you money for the time being, could be another option. This option is advantageous as:

• You will not have to pay an interest on the amount.
• You will have more willing and less scrutinising lenders than a bank.
• You will not accrue penalty on the interest that you are not able to repay within a specified time.

Nevertheless, be realistic about the timeline when you plan to return the money as you are running the risk of stressing your personal relationship here.

Loan against insurance policy

Your life insurance policy can also come to your aid, if you have to borrow money and have no other option at your disposal. You can opt for a loan against the insurance policy. Apart from the fact that your insurance company will be able to disburse the loan quickly (it already has all your details), this debt would be comparatively affordable. The rate of interest on the loan against an insurance policy, is much cheaper than getting a personal loan.

Things home buyers should not do if they are paying EMI

Here are certain things that you should not do, as you deal with tough times in your life:

Avoid the lender: The first thing the borrower should do, is to inform the bank about any job loss. Avoiding them at this juncture would be the worst thing to do. Genuine borrowers would not find it difficult to convince the bank to refinance the loan. For example, by prolonging the tenure, the EMI amount could be reduced.

Expect a salary hike: In a bad job market, finding a job might be a painful process. You should not be averse to a job offer that would pay you not more than your last salary package, or in fact, pay less. Remember, this is only for the time being. You may find a job suited to your skill and profile when things get back to normal.

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Should you buy, or rent? Should it be a ready-to-move-in apartment or an under-construction one? Here’s a list of to-dos, may-dos, and most certainly don’ts.

Richa Kulkarni, a chartered accountant, moved to Mumbai from Bengaluru seven years ago and has been paying about Rs 50,000 rent per month for a house in a gated community in Kandivali, which has all the amenities.

She recently shortlisted an under-construction property in the same area and paid the booking amount. She says that she consciously chose to stay on rent all these years as it was more cost effective and there were several rental options to choose from, as against making a capital investment where there would be strict budgetary constraints.

“If I had bought a house seven years ago, it would have cost me around Rs 2 crore and my EMI (equated monthly instalment) would have been Rs 1.5 lakh. My rent then was around Rs 40,000 per month. I have now decided to buy a house despite rising interest rates because I am more financially stable and have this emotional and aspirational factor to consider. Besides, loan eligibility is also a big factor. I may not easily get a loan as I grow old,” explains the 38-year old.

An apartment worth Rs 2 crore in a Mumbai suburb with a rental yield of about 1.5 percent per annum will cost Rs 3 lakh per year in rent. Even if a person decides to stay on rent in the same apartment for years, he may end up paying Rs 1.99 crore in 30 years instead of shelling out the total amount in one go.

“Even if one were to assume that there is a 5 percent rental escalation every year, one will have approximately 30-35 years to pay the lumpsum amount that a homebuyer would need to pay now. Most homebuyers opt for home loans, which significantly adds to the cost of ownership. There’s also the added advantage of mobility. You can move homes across cities at a drop of a hat. This is the prime reason why millennials and GenZ are preferring to rent houses. Having said that, if the emotional attribute of owning a house weighs heavy on the family, then the purchase becomes necessary,” explains Abhishek Kiran Gupta, CEO, CRE Matrix, a real estate analytics firm.

It boils down to whether you can afford that rental / EMI

The single most important factor to answer the question of whether to buy or rent is one’s budget and availability of ready finance. Remember, interest rates are at an all-time high and so are rentals in some markets. If your rental budget is Rs 20,000 per month and the rents in your area have shot up to Rs 30,000, it’s time you considered areas 5 km away where rents would still be Rs 20,000. But if you are open to buying a house 15 km away from your current location and financially secure enough to pay around Rs 60,000 per month as EMI, you should consider buying an apartment.

Hefty down payment

If you’re sure you can afford a house, make sure you do the due diligence. Experts say that as far as possible and depending on your age, it’s always good to pay up a sizeable amount as down payment. The more the better, in fact. This is important because you may be able to service fatter EMIs today but not in the future if you do not have a job. With inflation rising, what if your debt-to-income ratio gets into an uncomfortable zone?

Ready-to-move-in or under-construction?

Ask yourself whether you want to buy a property which you can live in right away, or can wait three years, say. Accordingly, decide whether to buy a ready-to-move-in property or an under-construction one.

The ideal thing would be to go for a ready property. If your budget is slightly stretched, you can consider a soon-to-be-ready project that is at least 80 percent complete. There will be minimal risk of the project getting delayed, which is a critical factor. There are severe financial implications if a project is delayed. You would not only have to pay home loan EMIs, but also rent for the apartment you reside in. Do make sure that the project has received an occupancy certificate from the authorities and that flats are being registered.

Having said that, if you do not have adequate funds and can wait for some time, an under-construction property by a reputed builder is the way to go. There are always more options available when you decide to go in for an under-construction property, You may get the floor and the house number of your choice, you could have adequate sunlight, maybe even a terrace or a garden. But then, there is always the risk of non-completion. Take your pick.

Who should buy?

Those who are employed and have 25-30 percent of the cost of the apartment available for investment. Remember, banks will only fund 80 percent of the cost . Those who already own a home can consider upgrading to a more spacious apartment.

Don’t buy for quick profits or short-term gains.

Besides apartments, buyers could even consider buying into a plot by a Grade A developer.

Should you buy now?

Interest-adjusted affordability is still higher than inflation-adjusted prices. This means that incomes have risen more than prices, so people would still be able to afford houses. “If the house is affordable and suits your pocket, you can think of buying it. But only end-users should venture forth as it is still not an investors’ market and capital appreciation is modest,” says Pankaj Kapoor of Liases Foras.

According to Dhruv Agarwala, Group CEO of Housing.com. Proptiger.com, and Makaan.com, you cannot time the real estate market as far as buying a home is concerned. His advice is that buyers should get on to the realty investment ladder even if it is for a small home. “Don’t live in it. Rent it out and trade up for a bigger apartment to live in when you can afford it. Don’t keep waiting for the perfect time. if you keep waiting for the perfect time, then you may never end up pulling the trigger,” he adds.

Things to keep in mind before buying a house

A buyer should make sure that the title of the seller is clear and free from encumbrances. In case of a secondary purchase, all property-related documents for the last 30 years should be examined. If documents for 30 years aren’t available, then at least documents for the last 12 years should be examined.

In case of a new project, the layout plan should have been approved by municipal authorities. An occupancy certificate from the competent authority should be obtained before taking over the property. If this has not been obtained, there is a risk of the property not getting registered.

The project should also be registered under RERA and the buyer should verify if all its provisions have been complied with. Most importantly, even if the project is RERA-registered, do not purchase property from a builder who is sitting on debt.

Estimate the total cost of ownership, including parking charges, stamp duty, registration charges, interiors, etc. Take into account the monthly maintenance charges that you may have to pay.

Make sure you keep three to four options open and don’t fixate on a single property. The golden rule is to explore. Of four properties you select, at least one developer or seller in the resale market will get back to you. The buyer should be willing to negotiate hard or walk away.

It’s advisable for buyers to choose the right location. See that there are proper roads leading up to the project, enough shops for daily needs, and that schools and hospitals are close by. Most importantly, check the distance to your workplace (offices will not remain shut forever) and the modes of transport available. As an end-user, don’t buy into futuristic no-man’s lands.

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