Ideas about Indian Service Industries | Real Estate, Investment

Opting for a home loan has made it easier for us to buy a house at a young age. But many times, buyers fail to repay their EMIs on time. This can lead to many adverse consequences, and in the worst cases, when the loan borrower does not repay the mortgage on time, the bank can seize his property. To avoid such consequences, you should plan the loan amount rationally. In no case, repaying the EMI would become a headache for you, and it must not come in the way of your family's requirements. Here, we have suggested some  simple tips to avoid becoming a loan defaulter . Keep some savings for adverse situations - You should keep at least three months of EMIs in your saving account. This will help you repay it on time, even in case of a job loss or accident. You can also keep this amount as a fixed deposit. Postpone the EMIs - If at any instance, you feel unable to repay the EMIs, it’s better to discuss your problem with your bank. In most cases, the bank empl...

In India, it is important to register the sale or purchase of a real estate property. Otherwise, there will be no legal proof to show the property transaction. The registration of a property is a simple process that will help in changing the ownership of the title. Therefore, it will safeguard the rights of the property owner. And, it will enable the state government to levy property taxes. Here, are  some important points that you should know about property registration in India . 1) Paying the stamp duty is the first step  As a buyer of the property, you need to pay 5 to 7% of the property’s value to the state government. The stamp paper can be purchased online or from a certified vendor. And, the documentation of the stamp paper varies as per the nature of the transaction. 2) Submit the application to the sub-registrar After payment of the stamp duty, you should apply for the registration process by submitting the requisite documents and paying the registration fee. T...

2020 has been bad for the entire world because it suffered a huge loss of human life. The pandemic has affected almost every sector of the Indian economy. Although the real estate sector has not remained prone to its adverse impacts, it has witnessed some positive trends. Here are a few of them: 1)  Buying a property has become easier - To promote home buyers infuse their hard-earned money into the market, banks have reduced the interest rate on home loans. Therefore, buying a house has become easier now. Another good news is that now sellers are ready to negotiate the price to sell their property quickly. This means buyers can purchase a house or flat at a cheaper price. 2)  Real estate has become the most preferred investment avenue - As everyone has witnessed the stock market crashing badly in 2020, smart investors are now more inclined towards investing in real estate. 3)  Safer modes of real estate shopping - Now instead of inspecting each suitable property phy...

If you are the owner of a rental property and earning well through it, you might face a situation where the rental amount will either become stagnant or start decreasing. Many landlords do not recognize the problems due to which such a situation arrives. But by applying some simple tips, they can ensure that the rental value of their property keeps on increasing with time. Here, we have discussed a few of them: 1) Keep on updating your property Many landlords just want to increase the rental amount, but they do not focus on giving an additional benefit for which their tenants would be happy to increase the rent annually. You should think about how the flat can become more comfortable. For instance, if there is a problem of overheating during summer, you can either look for a way to create proper air circulation or you can install an A.C. to avoid this issue. 2) Spend on cleaning and maintenance No tenant would want to pay an extra amount for a dirty house that has some serious is...

In India, any property that has been acquired from four generations of male lineage is defined as ancestral property . And, the property acquired from the mother’s family is not considered as the same. Every child has the right over his ancestral property irrespective of gender, age, and other factors. For selling such a property, a legal heir needs to take the permission of other coparceners. However, if the property has been transferred to him/her, then he has the right to sell it. Here, are some interesting facts that you must know about selling an ancestral property in India : 1) Your share in the ancestral property is decided on the basis of your position in the family tree. 2) An ancestral property can be sold or used by you, once you have got it transferred in your name. 3) The head of a Hindu Undivided Family can sell the ancestral property under financial distress or an emergency. 4) A legal heir who has not been given a share in the ancestral property can sue other copar...

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...

In recent years, Jaipur has developed as a prime real estate investment destination in North India. While the city has a pollution-free, peaceful aura, it offers all the facilities that are available in a metro city. Post-2014, many real estate developers ventured into constructing low-cost properties for the city’s urban dwellers. With huge competition prevailing among the real estate builders, they are looking for new ways to sell their properties. It is no surprise that the word “luxury” has been commonly used as a USP for apartments. But as a buyer, you should look for certain factors before investing in a luxury flat at Jaipur. Modern facilities - A luxury apartment differ from a general flat due to the extra amenities that it provides. You should look for well-designed, spacious rooms, modern style bathrooms, and modular kitchen. Plus, your flat should comprise stylish furnishing. Apart from this, the residential building should offer the facility of kids’...

Jaipur has always attracted people with its enchanting geographical features and unique architecture. At present, it is one of the best cities in North India, where you can reside peacefully. As the city’s real estate industry is expanding vast, here you find immense property options to pick from. While most people prefer buying an apartment over a villa, you should not forget the benefits of buying the latter one. In this write-up, we have discussed a few facts about villas in Jaipur. 1. Reasonable While most people think that villas are a costly choice, the fact is that suburbs of Jaipur offer many affordable properties. With hundreds of options to pick from, there are chances that you will find a suitable house that falls in your budget. 2. More amenities   Many modern folks, who wish to live a lavish life prefer an apartment over a villa because the former one comes with many add-on features, such as swimming pool, clubhouse, playground, gymnasium, and yog...

We all desire to live in a lavish, big house. But the reality is that real estate prices are surging fast and only a handful of people can afford a luxury house. And, the middle class has to compromise with a simpler house. This is why the trend of the compact house is gaining high popularity. In this write-up, we have discussed the benefits of buying a compact house in Jaipur. 1) Affordability- A compact house uses a lesser square feet area. Therefore, its price is much reasonable than its luxurious counterparts. Another benefit of buying a compact house is that you can avail loan under the Pradhan Mantri Awas Yojana. 2) Hassle-free maintenance- A bigger house means you need to spend more time, effort, and money on its upkeep. Contrary to this, compact homes require less time and effort on cleaning and maintenance. Therefore, it is perfect for working couples and bachelors. 3) Higher returns- It is easy to rent out a compact house. Therefore, you can earn a regular in...

Jaipur is one of the best cities in India that comprises world-class infrastructure as well as a peaceful ambience. The city is famous for its historical monuments, amazing architecture, and busy markets. Plus, it is growing fast to become an IT hub. Due to all these reasons, real estate properties in Jaipur are in great demand. If you are lucky to have a house or a villa in this city, then there are numerous ways to earn passive income through it. In this write-up, you can get some amazing ideas for earning money through your house. 1) Rent out to tenants By renting out a portion of your house or the entire house to a decent family or individual, you can make enough money, that too without making an extra effort. If you wish to rent out a fully-furnished flat to the tenant, then make sure the onus of the property’s maintenance is on the tenant. Before renting your property, you should sign a rental agreement with the tenant. The agreement paper should clearly define the...

Earthquake is one of the worst natural calamities that cause massive deaths and destruction. As per the National Centre for Seismology, Jaipur is under zone II, which is classified as the low damage risk zone. But in the past, we have seen many instances, when the earthquake-affected even the low-risk zones. Therefore, to prevent any causality in the unforeseeable future, we should live in an earthquake-resistant house. In this write-up, we have shares some practical tips to buy an earthquake-resistant flat in Jaipur. 1) Check the property’s details- To find out whether you are investing in an earthquake-resistant building, you should read the property’ brochure and website. If the builder has not mentioned this anywhere, chances are less that the building will be earth-quake resistant. But still, you can ask about this to the builder. As per new norms, every multi-story building has to be made earth-quake resistant, and reputed builders follow this norm. 2) Inspect the stru...

Finding a rental flat in Jaipur or any other city can become a serious headache if not handled properly. Most people will agree that despite the availability of so many properties on property searching portals, finding a property in a new city or the same city can be cumbersome. Despite strict law and order, fraud is quite common in the real estate market. And, a tenant can face many issues like paying higher rent, having no sense of independence and privacy, and paying many miscellaneous bills to the landlord. For a happy tenancy, you must not avoid the following tasks while renting a flat. 1) Inspecting the property properly Many people finalize their property deal by just looking at the lucrative property pictures on the Internet on whim of the property’s appearance. But instead of focusing on the property’s outlook, you should inspect it well and check the various details like security provision, neighbourhood, water supply, and electricity. 2) Enquire about the rent...

The capital of Rajasthan, Jaipur has been a major tourist destination for more than three centuries. The city has always been one of the most favorable residential locations in North India, but after being enlisted as a smart city in 2014, the city has been growing consistently. The start-up India mission has also infused huge investment in the commercial real estate sector. As compared to the rest of Jaipur, South Jaipur is growing fast and providing better scopes for real estate investment. In this write-up, we have discussed the benefits of investing in South Jaipur. 1) Good connectivity- The areas in South Jaipur, such as Malviya Nagar, Shankar Nagar, Bapu Nagar, and Jawahar Nagar is well-connected to the rest of the city via the Ring road. Very soon, these areas will be connected to other prime localities of the city via the North-South corridor of Jaipur Metro Rail. Plus, the area is connected to the rest of India via the Jaipur International Airport and two railway sta...