Some factors you must need to know before investing in Real estate of India –

Real estate market in India is one of the most promising sectors for investment. Not only this market provides safe investment options, but also it promises to provide favorable returns. Experts believe that investing in real estate market is always better than investing in gold, mutual funds or any other investment schemes. However, it is always wise to do some proper research for yourself and study the property market of India carefully before making a decision of investment.

Even though real estate market was going through a rough phase in the past few years, new trends are expected to come out. With constantly increasing demands, the residential property market is only destined to grow in the coming years and will give you favorable returns on investment.

Here are some factors you must need to know before investing in real estate of India –

The real estate market in India is evolving at a rapid phase. After seeing a low down for quite some years, it has picked up its speed and is quickly gaining back the power. Growing at a rate of 9% per annum, the reality market is expected to reach $180 billion by the year 2020.

A number of prestigious real estate developers have started constructing various luxurious and mid-budget apartments to cater to the growing demands. Buying Property in Banglore, Hyderabad, Noida, Gurgaon, or Mumbai can give you favorable returns on investment.

The property market not only has huge prospect for high-end property buyers in India. A number of government initiatives like the “Pradhan Mantri Awaas yojana“have been put in place with an aim to provide affordable houses to one and all.

The rental properties are in demand as much as residential properties for sale. The trend is high in universal cities where more and more people are shifting due to better job prospects and enhanced lifestyle conveniences. Kolkata, Delhi, Mumbai, Bangalore, Pune and Hyderabad are some of the cities that have shown a high demand for both buying as well as rental properties. Buying a property for investment in these cities can help you to get a second income, even if you do not want to live in that house.

More of all the Real Estate Market in India is heading to rapid growth. After seeing many highs and lows, the reality market will now see a consistent rising for the next 5-6 years. So, if you are planning to invest in Indian real estate market, the time is now. Get in touch with a reputed real estate agent who can help you find your dream house, which not only matches your criteria but is well within your budget too. Make an investment today and enjoy favorable returns tomorrow.

Eligibility and Tax Benefits regarding Home Loan –

Generally we take a home loan for either buying a house, flat or a plot of land for construction of a house, or renovation, extension and repairing for our existing house. But, before starting the home loan process, we need to figure out our total eligibility, which will mainly depend on our repaying capacity. Repayment capacity is mainly based on monthly disposable income, which, in turn, is based on factors such as total monthly income/excess less monthly expenses, and other factors like spouse’s income, belongings, responsibilities, stability of income, etc.

The bank has to make sure that you’re able to repay the loan on time. The higher the monthly expendable income, the higher will be the loan amount you will be granted for. Typically, a bank assumes that about 50% of your monthly surfeit income is available for repayment. The tenure and interest rate will also determine the loan amount. Further, the banks generally fix an upper age limit for home loan applicants, which could impact one’s eligibility.

Home loans also have tax benefits – According to the Income Tax Act, the principal constituent gets tax benefit under Section 80C of the total annual EMIs. Even the partial prepayment amount qualifies for the same, but within the overall limit of Rs 1.5 lakh under Section 80C. Further, if it is a self-occupied property, the interest paid is deductible up to Rs 2 lakh in a year.

While taking a home loan, choose the lender wisely – Choosing a lender who offers the lowest EMIs, will be beneficial for you, because you need to pay substantially less in repayments as compared to others. The lenders offering the longest tenure of, suppose, 30 years may not always be a good thing. Another option is to repay surely within particular duration without any kind of prepayment charges. Also check the matter if the lender includes the cost of furnishing the house within the project cost. Always try to choose lenders offering daily or monthly reducing balance, unlike the annual reducing balance method used by several banks.

“An Advocate-a best guider and adviser to manage and save Your Property for the Future”

An advocate, is a professional or non-professional in the field of law. When a person has earned a degree of law, and get a license for practicing law in a particular area, he or she becomes an advocate. An advocate is also known as a “Lawyer”, “attorney”, “barrister”, “counsel”, “counselor”, or “solicitor.”

Lawyers generally prepare legal documents for their clients. Examples: buying or selling property or making a will (testament). Certain lawyers (called “commissioners of oaths”) can take legally binding witness statements which can be presented to the court.

Estate planning lawyers try to make sure about your family dealings are all in order if something goes wrong.  Their tasks range from creating trusts for a child’s college fund to drafting a will so your assets get distributed appropriately to the members of your family when you die.  However, there are instances where people do not have a will and their assets have to go through Probate (court that decides what happens to your assets after death if you don’t have a will).  In these cases, there is a subset of family lawyers, called Probate Lawyers, who argue where and how those assets are distributed. A family lawyer handles everything connected with direct family issues.  Sometimes this also includes property or family insurances.

Civil lawyers assist with any legal issues related to real estate and property.  Like commercial lawyers, residential lawyers are distinguished between transactional vs. litigation. There are also many differences between commercial real estate and residential real estate, as well as other types of personal property, so most civil lawyers are specialized and focus on one of these areas. Much like business lawyers, Civil litigators go to court for arguing if a contract or purchase/sale agreement was violated, or when a tenant or landlord breaks a law and must be handled accordingly.  Civil transactional lawyers, on the other hand, solely deal with the negotiation of real estate transactions and drafting documents regarding those negotiations.

So, now you know a little more information about this topic. If you are looking to hire a lawyer, it’s important to figure out how to find the right lawyer according to your needs. Although there are many overlapping practice areas, each type of law is different. You need to make sure before choosing a lawyer that specializes in the particular type of service that you want. Doing otherwise is risky and can create unnecessary legal problems in the future.

Identify your boundaries and features of land to determine ownership through Surveys

Surveys are used to identify boundaries and features of land to determine ownership. It is the scientific process of measuring the dimensions of a particular area of the earth’s surface, including its horizontal distances, directions, angles, and altitude.  In this lesson, you’ll learn what a survey is and about the different types of surveys used today.

1. Boundary Survey

A boundary survey is used to locate the corners and boundary lines of a particular land. This type of survey involves both record and field research, including any measurements and computations needed to set the boundary lines in accordance with applicable state laws. A boundary survey may also involve locating easement lines and impacts.

2. Construction Survey

This type of survey requires staking out structures located on the property, including walls, buildings, roads, and utilities. Staking provides construction personnel with directions for implementing the improvements shown on the development plans. A construction survey may also involve both horizontal and vertical grading in addition to an As-Built survey.

3. Location Survey

Similar to a boundary survey, a location survey provides additional information on the location of interior improvements. This type of survey is most commonly used to fulfill the requirements of a zoning permit or loan application.

4. Site Planning Survey

Often a requirement for development permit applications, a site planning survey combines the elements of boundary and topographic surveys for site planning. This survey is used to plan design improvements and developments before construction begins.

5. Subdivision Survey

A subdivision survey is used to divide a parcel of land into smaller tracts, lots, or estates. This type of survey is also used to design streets and drainages, and it must be recorded by the local and state government agency. This survey is also known as a partition survey.

6. Topographic Survey

The purpose of this survey is to locate both natural and man-made topographic features on a parcel of land. Examples of such features include barriers, utilities, buildings, heights, streams, trees, improvements, and outlines. A topographic survey may be required by a state or local government agency or might be used by architects and engineers for planning site improvements and development.

When it comes to applying land survey principles and choosing the necessary equipment, each type of land survey has its own unique requirements. No matter what type of land survey is needed, be sure to have the proper tools on hand. With many years of combined Land surveying experience, our expert team is well-versed in the rules and regulations of local administration throughout Kolkata area, and we are committed in providing high quality, accurate residential surveys within a timely, affordable manner.

All you need to know about Deed — mipanindia

A deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed. It is commonly associated with transferring (conveyancing) title to property. The deed has a greater audacity of validity and is less rebuttable than an instrument signed by the party to the deed. A deed can be unilateral or […]

All you need to know about Deed — mipanindia