Wednesday, 22 July 2015

Prathamesh Gallardo- Homes with exclusivity

Home is a personal space that we all desire to own and the thought of investing in a property in a city like Pune turns out to be one of the most crucial financial decisions that a majority of us make in our lifetime.

Having a home in a city where there is a huge IT park for the IT professionals looking for an opportunity to grow in their career, educational institutions of international standards for students who aspire to have a career through quality education and explore the various career opportunities in different fields and, last but not the least, the high standard of living which represent the lifestyle of the people of the city and compliment their social stature, is more like a dream for many of us!

However, through some of the luxurious and premium projects, the builders of the city are working towards providing the potential home buyers with all their needs met and living spaces that they will adore once they experience the quality of life that a resident would have in such residential spaces. A similar living experience you can expect in the ongoing project by Prathamesh Constructions- Prathamesh Gallardo. The project has been designed with an approach to provide you with high end residential space that is tailor made for you.

Prathamesh Gallardo- a six storey single tower, which boasts about a lifestyle that we all yearn to attain. A life with luxury and comfort at every square foot of your home is what you can look forward to if you seek a property in Prathamesh Gallardo in Pune. It will embellish your lifestyle with the lavish and alluring features, high grade specifications combined with a meticulous design sense in the interiors of the flats.  The project is located in the serene location of Salisbury Park, Pune which has close proximity to the camp area, Bibwewadi, Ganga Dham, etc. that ensure connectivity with the other parts of the city.

Some of the value additions in the project include the home automation, viewing deck, solar panels, lounge, centralized air-conditioning, remote controlled security gate, landscaped private terrace and Jacuzzi  in duplexes, etc. With all such amazing features, you can think of a home where luxury is your companion and comfort is your attire. 

Monday, 13 July 2015

How Financing from Banks be useful for first home buyers?

Buying a property over renting has been one of the most debated topics. While many people prefer paying rent for a house due to the flexibility of changing the residential address when needed, there are others who feel paying EMI for your own home is better than paying rent. For people who are interested in buying a property for the investment purpose or the end use, here are a few advantages of financing from Bank for the property.

  • The Indirect Discount on Cost: when you plan to invest in property, taking a home loan from Bank will help you reduce the cost of the property in the long run. For example, if you wish to buy a property that costs 50 Lacs and you take a loan of 30 Lacs, then your monthly installment for loan repayment will be close to Rs. 30,000/- per month. If you rent the same property at a rent amount of Rs. 10,000/- then your EMI will be reduced to Rs. 20,000/- per month and hence, the property will cost you 40 Lacs at the indirect discount of Rs.10 Lacs through rent.
  • Pay EMI instead of Rent: Just the way you pay rent to the owner of a flat, you could pay EMI of the Bank loan which will help you acquire a home of your own. This way the money that you spend on renting a property can actually be utilized in paying the EMI of the bank loans and thereby, owning a property of your own.
  • Price appreciation over time: If you buy a property today, the price of the property will appreciate and thus, it will be a source of good return on investment. Also, the interest rate applicable on your loan will remain the same and hence, you will be able to increase the rent of the property or increase the price of the property at the time reselling as per the appreciation of the property rates of that particular city without having to pay extra EMI for repaying the bank loan.
  • Satisfaction & security: When you rent a house, paying rent and renewing the rental agreement with the owner every year can get you worried. But, if you own your home, you just need to pay the EMI and you need not get worried about any renewals and agreements. Hence, you feel a sense of security and satisfaction when you own the property and are not staying in a rented flat. 

Wednesday, 8 July 2015

Home buying Steps that you must never miss while buying a property

Considering the fact that buying property is a long process and takes months to finalize a property, we share some of the steps that you must take while buying a property. As we have discussed few steps in the previous post, we shall now know the remaining steps that you must never miss while buying a property:
3. Better Understanding of your payment plan: Depending upon the builder and the type of property you are buying, you must know the payment plans you would be opting for. Typical plans are of 3 types:
a) Construction linked: You pay based on the progress of the construction of the property. This can be safest because you pay for progress and need to spend money along with the level of completion of the construction process.
b) Time linked: You pay according to a set timetable, whether the construction is under process or on the verge of completion.
c) Down payment: You pay for the property up front, but then are exposed to the risk of delays and whether the property will get completed at all or not.
4. Applying for a loan approval: If you need to apply for a loan for property purchase, then it is advisable to simultaneously start the application process with potential lenders, along with the above steps. This can help you know more about the loan that you can apply for and the terms of getting the loan. You can also get a pre-approval for a loan in case you have not selected a property as yet, but want to save time later when you have zeroed in on a property.
5. Allotment letter: This is allotted by the builder once you book a flat in an under construction property. This allotment letter includes the details (like flat number, area, price) of the flat that has been allotted to you, the payment details, any extra charges levied to you amenities such as car parking, club membership, and maintenance charges to be levied at the time of possession and occupancy.

6. Sale agreement: This agreement is made once you agree to all the terms and conditions of the sale with the seller in case you are buying a pre-existing property.

7. Possession and Registration: The final step in the buying process is the possession of the property being transferred to you and your responsibility to get it registered in your name. At the time of registration you will also have to pay a stamp duty which is a government tax levied on property transactions.