Ideas about Indian Service Industries | Real Estate, Investment

Moving away from our parents’ home for better career prospects, we often hate the idea of living in a rented flat. But the skyrocketing prices of properties often pull us away from our dream of buying a house. While taking a home loan is a better alternative to living in a rented house, many people hesitate to take the plunge due to the risks involved with non-repayment of the loan. Buying a resale flat is a good option for all such people who do not possess sufficient money for acquiring their dream house. Being cheaper than their newly-developed counterparts, they eliminate the need for taking a huge amount of loan. Plus, there are many other benefits to buying a resale flat. Some of them are mentioned below: 1)  No waiting period- When you buy a resale flat, you can move in it immediately. This is often not possible with an under-construction project which requires you to wait for the property possession. Getting instant possession of the property means you need not live in t...

The increased migrations to cities have created a huge demand for rental properties in India. Nowadays, many people are paying more than ₹ 50,000 per month on rent. Section 194-I of the Income-tax Act has made it mandatory for every individual or Hindu Undivided Family spending this amount on lease/rent to deduct the TDS on rent and pay it to the government. Well, a renter in India can pay the TDS online by visiting the NSDL website. But before that, it is important to procure a tax deduction number (TAN). Before paying the TDS on rent online , one should fill the Form 26QC. After this, by selecting the option for e-payment, one can make the payment successfully. Here are some important rules regarding TDS deduction on rent of a residential property : The TDS on rent has to be deducted by a tenant from the owner of the property. And, it is his/her responsibility to pay this money to the government. The TDS applies to all rental properties that earn more the ₹ 2, 40,000 per financial...

In India, agricultural land can only be used for farming, floriculture, cattle rearing, horticulture, and other agriculture-related activities. But it cannot be used for residential or commercial purposes without obtaining prior approval from the government. In Rajasthan, the tehsildar is responsible for granting permission for the use of agricultural land for residential purposes. Here, are a few important information that you need to know in this regard. 1) The agricultural land can be converted for residential use under the Rural Areas Rules, 1992. And, for acquiring a license regarding the same, the applicant has to pay a fee that may vary between ₹ 60-200 per square yard. 2) In order to apply for the license of land conversion, you need to submit an application form to the tehsildar. The applicant has to mention the purpose behind the land conversion along with the information regarding the property detail. Along with the application form, it is important to submit certain docum...

Since February 2020, we have seen many major world economies succumbing to a pandemic. This has resulted in a global recession and economic slowdown. With so many uncertainties hovering around, people do not want to spend their hard-earned money into fixed assets. After all, this adverse situation has made them realize the importance of liquid money. But unlike other avenues of investment, real estate presents some really good opportunities to the prospective investors. Here, we have enlisted a few reasons for which you should consider buying a real estate property during a recession . 1) Lower interest rates on a home loan- In order to infuse money into the market, the RBI generally reduces the repo rate during a recession. As a result of this, the interest on a home loan is reduced considerably. This means for buying a property during a recession, you will be spending lesser money and paying lesser EMI. 2) Lesser demand and higher supply- With no competition from other prospective ...

Buying a house is one of the most desirable goals of our lives. The best thing about living in the present age is that you need not wait for years to buy your first house. After all, the Indian government has come up with simpler home loan policies. Well, buying a house boosts one’s morale and enhances one’s social reputation. In this write-up, we have shared a few important benefits of buying a house that many buyers fail to recognize. 1. Wealth creation- Investing in a house is one of the simplest and most effective ideas for creating wealth. Real estate buyers in India can gain up to 200% interest on investment in 10 years. Buying a house at an early age is one of the best plans for saving for retirement.  2. Social benefits- As compared to a renter, a homeowner can contribute more towards keeping the neighbourhood clean. Plus, as they tend to participate more in society politics, they can contribute towards the growth of the neighbourhood. Plus, as homeowners tend to be awar...

Buying a house is a major goal in every Indian’s life. And, achieving this goal gives us a sense of pride and satisfaction. Earlier, people would work hard for most of their life to save money for buying a property. But now, due to the relaxed home loan policies, many youngsters are becoming homeowners. Well, the best time to buy a property depends on one’s financial position. But experts suggest that the age 30 to 39 is the best years of one's life for making such a big investment. Here, are a few reasons to back up this claim. 1) Loan repayment becomes easier- By opting for a loan at age 30 to 39, you get more time to repay it. You can choose your loan repayment plan for 15, 25, or 30 years as per your preference. By choosing longer loan repayment tenure, you will need to pay a small amount as monthly EMIs .  2) Stability in professional life- By this age, most people attains stability in their professional career. Plus, they have already saved enough money for the down payment...

Before moving into a rental property, we all inspect the property well and find out the details regarding essential amenities, such as water supply, parking, and waste management. Apart from this, it is also important to enter into a legal agreement with the landlord. As a tenant, we must keep a photocopy of the agreement paper because it serves as proof of your local address. Plus, in case of any dispute with the landlord, the rental agreement helps in solving the matter. Therefore, you should read and check the rental agreement properly. Here, are a few points that you must check before signing a rental agreement with the landlord. 1. The property details- The rental agreement must provide the details about the area that has been taken on rent. Make sure that the legal document provides information about the property’s address and the landlord’s details. You should check all these details thoroughly. 2. Rent and overhead Charges- The rental agreement should provide detailed informa...

In recent years, Jaipur has developed immensely, establishing itself as an IT hub. The city has been successfully attracting a huge number of migrants every year. Therefore, there is an increased demand for rental properties due to which prices of rental homes are increasing. In some posh localities of Jaipur, due to higher demand for leased accommodation, landlords are charging more than the standard prices. If you are living in a rented house, then you should never pay more than what the property is worthy of. In this write-up, we have shared a few simple tips in this regard. 1) Analyze the factors that affect the rental prices The rent of a flat should be directly proportional to the size of the flat, its location, the amenities, and a lot more. For example, the rental price of a 2BHK flat in a posh locality will be higher than the rental price of a similar flat in a suburban locality. Also, a fully-furnished house is slightly costly than an unfurnished house. 2) Check online Searc...