Posted on 25th February 2019 Author: Planet Homes
In the previous blog, it was discussed on how the interim budget 2019 had impacted the Real estate market, with the entry of GST based plans.
Here’s a quick recap on the previous blog - Impact of GST on Real Estate. The interim budget discussed the application of 12% GST for constructed homes and 5% for under-constructed homes. It’s also talked about how it removed all the varied unnecessary taxes and culminated them into one tax i.e. the GST. This helped in increasing the transparency and trust in the real estate market amongst buyer and sellers.
But in recent turn of events, dated February 24, 2019, the Goods and Tax Council, headed by India’s Finance Minister Mr. Arun Jaitley announced the new slashed rates in the GST for real estate market. The act lead to lowering of the GST rate on under-construction properties to 5% from 12%. In addition, affordable housing projects will attract 1% tax. These changes will be applicable from April 201...
Posted on 22nd February 2019 Author: Planet Homes
Our previous blog discussed how the interim 2019 budget affected the real estate. In subsequence, another event that marked the largest chain of changes was the tax levied by Government as a replacement of VAT and Service Tax. This tax is known as the Goods Service Tax or GST.
Before you understand how this new tax reform has impacted the real estate market, let’s shed some light on what GST is and why was it brought into practice the first place. GST in simple words, is an indirect tax levied on the supply of goods and services. GST has replaced many indirect tax laws that previously existed in India.
The long awaited GST was introduced and made official on 1st July 2016 in India. GST also known as the Goods Service Tax, came as a fine alternative to the multiple taxes applied on all types of goods and sectors. This culminated business into paying only one final tax.
GST overturned the entire tax system for the market, bringing in its own p...
Posted on 15th February 2019 Author: Planet Homes
To own your own Home is a dream every person possess. And a property for your self is just not for the present or your hard work of the past. It is also a saved gift for the future you. A home is the biggest investment of your life. A home is an investment of a lifetime, meaning wise decisions have to be taken while making the purchase decision. In such conditions, you always look for the right support and the right advice.
Retirement is a pleasant phase when you; leave back all the worries of life and choose to cherish the fruit of a lifetime of hard work. And according to a statistic report, Indian adults who own a home have seen to be more satisfied with their retirement plans. An additional home should be one of the key considerations of your retirement plans.
Here are major benefits that you can earn in your retirement when you own a home
Owning a house is truly a commodity for all ...
Posted on 11th February 2019 Author: Planet Homes
Every Indian had been waiting eagerly for the 2019 Budget as it had been a great year of turmoil, much disruption for the financial markets. The budget had some direct and indirect effect of many things.
We have been witness to large impacts on the real estate market in the past few years with it almost hitting rock bottom. The real estate marketers have keenly glued to the budget this year and well fortune has favored them.
Here are some highlighting effects of how the 2019 financial budget will impact real estate and its peripheries.
1. Extension of Section 80-IB benefits
The 2019 Budget dictated the extension of Section 80-IB benefits to another year. That will help in aiding the government's housing for all program and will give a good push for the affordable segment.
Section 80-IB benefits have gained control to revive the ailing housing sector. Many developers who ...
Posted on 28th January 2019 Author: Planet Homes
Everyone has a dream to own a house of their own. A house is one of the basic necessities of man. And with sky-high soaring rates, owning a house can look impossible. But that's where the banks come in action with home loans. Banks provide loans to you for owning, constructing and repairing your house. Home loans play pivotal roles for first-time home buyers since they come with a lot of benefits and flexibilities.
Home loans under various government schemes and other institutes provide benefits in tax deductions. This makes the buyer happier and safe to invest in a property by relieving them from a little financial burden. The tax benefits received by loan takers as individuals are as follows-
A home loan must be taken for the purchase/construction of a house and the construction of the house must be completed within 5 years from the end of the financial year in whi...
Posted on 18th January 2019 Author: Planet Homes
Maharashtra has always been a pivotal market when it comes to real estate. It is a real estate favourite destination due to its abundance of resources and the economic importance it holds on the map. It has also been a great valuable possession in sense of trade of being the house for major traders and industries.
Mumbai is one of the desired and costliest cities to live in the world. Called as the “City of Dreams”, it’s a haven to live in, but the image of ideal living has been shattered due to high prices of real estate. In addition, congestion has impacted the estate market in Mumbai, hence opening markets around Mumbai. One such uprising locality is the Thane- Kalyan -Bhiwandi Road patch.
Here are 5 reasons how the Thane- Kalyan -Bhiwandi Road is turning heads with its developments, in turn becoming a most sought option for ideal living around Mumbai.
Thane- Kalyan -Bhiwandi Road is...
Posted on 11th January 2019 Author: Planet Homes
The real estate market has always been buzzing with various localities claiming to be the best places to live. Very few locations in Maharashtra, particularly near the ‘City of Dreams’ Mumbai top the list for the most affordable and desirable places to live. Of one such places is Thane.
Thane is a flourishing economy and has a very good connectivity to its surroundings. It enjoys superb connectivity to Navi Mumbai as well as to the Eastern and Western Suburbs of Mumbai via Eastern Freeway, JVLR, SCLR, Ghodbunder Road, NH 8, Mumbai-Nashik Highway and the Thane-Belapur Road. Besides, the Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways seamlessly connect Thane to Mumbai's railway network. There are future connectivity plans which include the proposed metro rail that would run along the Ghodbunder Road with more than 10 halts within Thane itself. With the metro, the current travel time between Thane and Wadala is expected to reduce by...
Posted on 05th January 2019 Author: Planet Homes
The basic human needs are - Food, Clothing and Shelter. To own a shelter of your own is an almost next to impossible task. With the sky touching prices of houses, it becomes increasingly difficult to fulfil this dream and here is where banks come to your recue in the form of home loans.
Banks and financial institutes offer 5 different kinds of home loans depending on your needs, income levels and structure. Read on to find out more about these loans.
This is the most common home loan available to all buyers wanting to purchase a new home. This loan is useful only if one is buying a residential property. It usually covers up to 85% of the amount of the market value. The interest rates are usually fixed, floating or hybrid.
2. House Construction Loan
Posted on 30th November 2018 Author: Planet Homes
In India, several couples are purchasing properties jointly to avail the financial benefits offered by various banking institutions and banks. Joint possession of a property, not only has tax benefits but it also blends funds and helps in getting a higher loan sanction. The co-owners of the joint property can claim deductions individually on the stamp duty & registration charges, interest and principal repayment amounts.
Applying for a joint home loan as a married couple is more beneficial in India because there are multiple perks provided by banks and government.
There are various financial and economic gains of having a joint-ownership of the property that is purchased. Let us understand some of them below.
1. Easy Home Loans
The real estate prices are soaring sky-high in India. And the dream of purchasing the ‘dream home’ is one of the most expensive investments any individual or mar...
Posted on 17th November 2018 Author: Planet Homes
Neral is located in Raigad district in Maharashtra. It falls under the Karjat Tehsil and is blessed with lush greenery as it is surrounded by verdant hills. It encompasses rich green landscapes and is one of the fastest growing residential areas in Mumbai. Today, Neral boasts of various development plans, government offices, budding social infrastructure, vast commercial and branded residential townships, making it one of the fastest developing districts of uptown Mumbai. Another plus point is that Neral falls under the MMRDA development zone.
If you are planning to buy your dream home in and around Mumbai, here are 5 reasons why Neral is the ultimate living destination.
Neral has emerged to be an affordable living place in comparison to the rest of Mumbai. Even compared to the surrounding areas of Karjat, Badlapur and Ambernath, Neral is affordable for people to buy a house. Neral provid...
Posted on 08th November 2018 Author: Planet Homes
Festive season is considered to be an auspicious time for many Indian home buyers. This is primarily because of builders/developers coming out with discounted prices and exciting offers. The festive period is usually marked by developers with new project launches with attractive offers, schemes, freebies, flexible financing options etc.
The offers during this period are unique, competitive and at times customized to suit the home buyers. From a homebuyer’s perspective, festival season is the best periods to scout for their ideal homes, as most of the developers would be vying for their attention through these offers.
Some of the benefits of purchasing a property during the festive season are as below:
New Project Launches
During the festive season, most developers feel that it is an auspicious and opportune time to launch new the projects. These new projects are launched during the festive season than at any other...
Posted on 16th October 2018 Author: Planet Homes
The depreciation of Indian rupee against the US dollar is prompting non-resident Indians (NRIs) to invest in the Indian real estate sector. The RERA (Real Estate Regulatory Authority) regulatory environment had brought transparency and consolidation on part of real estate developers, making property purchases easier and valuable for Indian buyers across the globe.
Generally, NRIs buy properties in India for investment purposes. Other reasons include emotional connection with their country, family and for settling back in India, once they retire. Returns from real estate investments in India have consistently performed well as compared to other investments.
Here are 5 reasons why real estate in India is turning attractive for NRIs:
1. Additional Income
NRIs have an additional power to invest in Indian real estate properties because of their additional income. The Indian rupee is hovering near 73.82 against the US dollar ...
Posted on 01st October 2018 Author: Planet Homes
Buying a house in the city of dreams is a fantasy of every Mumbaikar. Mumbai real estate is known to be the most expensive housing market in India and with the increasing population of the city, the demand for homes is ever-rising. People usually get overwhelmed by the feeling of getting a house of their own & are often misguided because of the lack of knowledge of the real estate market.
Here are a few tips that will help you buy a house in Mumbai:
Target the right locality
This is first and foremost factor to take under consideration before starting your house hunt. As a homebuyer, you should do sufficient research about the locality you want to invest in and know about the basic amenities that the locality provides. Mumbai possess different type of localities like eastern & western suburban, Navi Mumbai, Thane etc. so pick the locality that fits your needs & budget.
The price range<...
Posted on 01st October 2018 Author: Planet Homes
Pune is one of the fastest growing real estate markets of India. With increasing commercial industries, IT Parks & MNCs, Pune is attracting a lot of Millennials as well as people migrating from other parts of the county making it extensively preferred real estate market of India. Pune is an upmarket city with good educational institutes, pleasant weather & affordable housing. Many big real estate developers like Puranik Builders, Kolte-Patil Developers, Godrej properties etc. are coming up with exclusive projects full of amenities to give Punekar’s the experience of luxury living.
Here are a few best upcoming projects in Pune:
Three Jewels by Kolte-Patil, Katraj
The property is located at Katraj road & is executed by Kolte-Patil, one of the biggest property developers of Pune. Three Jewels features 1, 2 & compact 3 BHK apartments with excellent & luxurious lifestyle amenities. The property is inclu...
Posted on 24th September 2018 Author: Planet Homes
The real estate in Thane has seen an immense growth in the past couple of years. A report by Knight Frank India, tells us that Thane is one of the most preferred cities in the real estate market. The reason is, Thane provides bigger housing spaces at a reasonable price compared to the other parts of Mumbai and has good connectivity to all the important parts of the city, and also possesses good local amenities and roads. Not only this, the city has historically given a good return on investment which has made it a favorite property investment hub for real estate enthusiasts.
Let’s look at a few benefits of investing in Thane Real Estate:
Thane is well connected to all parts of the MMR and beyond via the Eastern Express Highway & Freeway, the Thane-Belapur road, Mumbai-Pune Highway, Mumbai-Nasik Highway & Mumbai-Ahmedabad highway. The road connectivity within the city is also quite convenient with a good ...
Posted on 24th September 2018 Author: Planet Homes
Navi Mumbai real estate is booming and becoming a favorite place for home buyers and investors. The infrastructure and amenities that Navi Mumbai realtors provide are advanced and with the increasing social infrastructure like big shopping malls, theaters, hospitals, universities and international schools and well-structured parks, roads and affordable neighborhood, the real estate prices are getting higher day by day.
About Navi Mumbai International Airport Project
Recently, Prime Minister Narendra Modi announced to build second international airport of Mumbai, the Navi Mumbai International Airport which will be built in Mumbai’s Kopra-Panvel area. GVK Power Infrastructure has signed a contract with CIDCO (City Industrial Development Corporation Ltd) for the establishment and building of this airport.
Impact on MMR Real Estate
MMR (Mumbai Metropolitan Region) real estate comprises of Mumbai, Navi...
Posted on 22nd September 2018 Author: Planet Homes
Often known as the techno savvy generation of the nation, millennials are known to mold and change the traditional ways of doing everything. They are a fast growing generation that is ready to adapt to changes very quickly & accommodate accordingly to their surroundings. Millennials refer to the generation between the 80s till 2000s. They are the present and future of the Indian economy as the major population of the decision makers today are the millennials. That being said, this generation has a huge impact on the real estate of India. They are the thinkers, decision makers, and final end buyers of real estate and its related products.
As a real estate advisor, it is necessary to study and analyze how and why millennials are shaping the interface of real estate today.
It has been noticed that millennials are more inclined towards renting the house at an initial stag...
Posted on 28th August 2018 Author: Planet Homes
Every individual dreams about buying their own house in the city. But buying a house in a city is expensive and not affordable for everyone. While there are few who can afford it, there are also those who spend their entire life’s savings to buy a house. With the intention of fulfilling everyone’s dream of owning a house, Government of India has introduced ‘Pradhan Mantri Awaas Yojana’ scheme. This scheme was inaugurated in June 2015, and is objected to providing housing to all by 2022.
Features of Pradhan Mantri Awaas Yojana
The main feature of this scheme is that it provides an interest subsidy of 6.5% for the duration of 15 years from the commencement of application for home loan. This gives enough time to the applicant to repay the loan.
Posted on 27th August 2018 Author: Planet Homes
While making a property purchase, primary decisions are based on the look of the property. Very few buyers realize the fact that the location of the property is the most crucial part needed to be taken under consideration. What most buyers don’t understand is that the look of the property can be changed with the interiors but the location around it will stay the same. The importance of location has always been underestimated while buying a property. Let’s look at some vital factors to be considered while choosing an appropriate location for the property before purchase.
Valuation of Property
Property valuation differs according to the locality and the amenities available around. For e.g. a property with good amenities like malls, good schools, and good connectivity to the prime locations of the city will cost more than a property that is far away from these amenities.
Posted on 22nd August 2018 Author: Planet Homes
Investing in a property is said to be one of the safest investments of all. The main reason for this is benefits of good return on investment & perennial boom of the real estate sector. There are plenty of guides available in order to achieve success on the real estate investment. Yet there are minor mistakes that most people do while making a property investment, which turn out to be a costly affair for most of them.
Letting your heart rule over your head
Most people treat property buying as an emotional investment. 90% of the property investment decisions are made from the heart & only 10% using head. It is justified to feel so if you are going to raise your family in the property that you are buying. But if you are planning to purchase a property for investment, you shouldn’t let your heart rule over your head and act according to prevailing the market conditions.
Choosing a wrong place
Posted on 01st August 2018 Author: Planet Homes
Buying a property is a big decision as it is a big ticket item and gives good return on investment with time. There are a lot of things that needs to be taken into consideration when buying any property. Location and price are undoubtedly the most important factors while making a property purchase, but whether to buy a new or resale property is also an important decision that a buyer has to make. The debate an investor and buyer always go through is whether to invest in a new property or resale property. Investing in a new or in a resale property, each has its own pros and cons which one has to assess carefully before coming to a conclusion. Here are few points to take into consideration that can help you make a decision.
The purchase value of a new construction is considerably high as compared to resale properties, as the property will be brand new and holds more years to its life. ...
Posted on 31st July 2018 Author: Planet Homes
Ever since globalization hit Pune in the early 90s, it has been ahead of the time; be it education, technology or growing IT industries. With the increase in commercial industries, IT parks and MNCs, Pune is definitely becoming an ideal and extensively preferred residential as well as commercial hub. In the last couple of years, Pune has proved itself to be a profitable real estate investment market with its constant growth and development. Let’s look at the few reasons why real estate is booming in Pune.
Pune’s real estate prices are less as compared to the other urban cities. In recent times, Pune has been considered a safe option for both commercial as well as residential investments, especially for those who are reluctant to invest high risk investments. Pune real estate prices are increasing and will definitely reach a great high in the coming years. Areas like...
Posted on 25th July 2018 Author: Planet Homes
Thane's change from being Mumbai's village cousin to a legitimate, vibrant city has been a quick, if not exceptionally smooth one. Developers, of all sizes – big and small, have left their architectural mark in Thane.
Towers, cranes and green netting are distinguishably visible from the skyline of Thane against its hilly and green scenery. These towering structures have been intended for each ticket size – from moderate to mid-market to super luxury. Homes in Thane are no longer observed as residences; they are perceived as status symbols.
Here are the reasons to invest in Thane Properties –
Affordable and Modern Homes with all Amenities
Ghodbunder Road appears is the perfect choice for first time home purchasers as the costs in the area are still very pocket friendly. The average cost in this area is around Rs. 9,000 for every sq. ft. which is modest by the Mumbai standards. Plus, numerou...
Posted on 25th July 2018 Author: Planet Homes
Buying a house is always challenging yet a fun task. It’s a long term decision and a lifetime of savings goes into buying your dream home. Thus you will look out for properties that will keep your family happy for long-term.
Here are the factors to keep in mind before purchasing a house –
Whether you are planning to invest or buy a home for personal use, location plays a vital role. It becomes the deciding factor whether you should purchase a house or not. A house in the area that is well connected to markets and near-by transportation will cost more in suburbs. Normally every location has its own unique advantage.
Whether you are staying alone or with family, this factor is very crucial to weigh in before purchasing. Most of the buyers consider it as an important factor and undoubtedly it is. No one would like to purchase a home...
Posted on 01st August 2017 Author: Planet Homes
The real estate industry in India is teeming with huge investment opportunities, thanks to the constructive policy measures implemented by the government and a strong economy. The tier II and tier III cities have been getting a digital makeover with the smart city mission and people are equally enthusiastic about the investment opportunities in these cities. Investing in real estate is the one option which can give you a significant level of security as well as price appreciation.
Amazing opportunities for investment in real estate
And it is not just the residential property schemes where you can invest! There are many avenues where you can invest and earn maximum benefits at very low risk. Today, you can easily invest in residential real estate and vacation homes; commercial real estate including retail, office and industrial units; REITs; land and parking space; and you can effectively augment your income sources.
Investing in ...
Posted on 21st July 2017 Author: Planet Homes
Purchasing a home is a big decision. And for most of the people, the chance to take such a decision does not come much often some of the most crucial factors you should check while you are browsing through the options for your dream home.
One thing for sure, Always consult an property expert and take advice from more people to strengthen your belief and make a right decision.
1. Ideal Locality
Check if the neighborhood has good connectivity in terms of roads, electricity, drainage, public transport, and mobile network. Take a good time to observe the property but take even more time in exploring the social infrastructure of the neighborhood and the people. If you talk about Mumbai, residential projects in thane offer the best combination for all the requisitions.
2. Long-term Growth Prospects
An area which has high potential f...
Posted on 24th June 2017 Author: Planet Homes
Growth of real estate industry is directly connected to the growth of IT enabled services industry, hospitality and entertainment industry, education and healthcare industry.There is increasing sense of optimism about the real estate demand because of several factors. The population is growing, rise of the service sector, increasing income levels, govt. policies and regulations, urbanization of tier II and tier III cities; real estate industry in India is on song. Despite the global slowdown, India has managed to continue its growth run, which would reflect through a bullish real estate market, in the next decade.
Here are the reasons ‘why this is the right time to invest in real estate?’
1. Safer than you fear
The rise and fall of the real estate industry largely depends on the country’s economic environment. The demand and prices of real estate property would only appreciate with the time. And compared to stock...
Posted on 14th June 2017 Author: Planet Homes
Everything you might want to know about MahaRERA!
The Real Estate (Regulation and Development) Act - 2016 [RERA] has been implemented by Maharashtra State Government from 01 May, 2017. Making a very crucial contribution to the policy reforms initiated by the Central Government, RERA is aimed to regularize the real estate sector throughout the country.The Government of Maharashtra has established Maharashtra Real Estate Regulatory Authority (MahaRERA), for effective implementation of RERA. You can visit the official website of MahaRERA here https://maharera.mahaonline.gov.in.
Obviously, the urban areas are the main battleground for real estate market but RERA act would regularize all the real estate transactions, including t...
Posted on 02nd June 2017 Author: Planet Homes
How will RERA affect the home buyers?
The Real Estate (Regulation and development) Act, 2016 has been enacted to ensure the sale of real estate projects, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector. The Maharashtra state government has implemented RERA from 01 May, 2017 in the state through The Maharashtra Real Estate Regulatory Authority (MahaRERA).
Apart from regularizing the real estate transactions, the provisions of this act would enable the establishment of an adjudicating mechanism for speedy dispute redressal and the establishment of the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority.
Eventually, RERA is expected to protect the people at large from the unethical prac...
Posted on 10th May 2017 Author: Planet Homes
‘Maximum city’ Mumbai. This is one city which attracts people from all over India. The constant influx of people is reason why the city has been expanding its limits constantly. The city suburbs are too costly for the common folk. The periphery of the city thus garners a lot of interest. This is why areas like Thane and Navi Mumbai have seen increasing number of residential projects coming up, especially Thane – one of the would be Smart City.
Thane known as ‘City of the Lakes’ by its residents and it has earns its name because of 33 lakes situated in the area. Thane is one of the fastest growing areas of Mumbai. Not only residential real estate, Thane is teeming with a lot of commercial real estate and infrastructure. The best thing about Thane is that it is strategically located where you can enjoy maximum connectivity through highways, railways and public transport.
If you are planning to move to Thane, here are 9 reasons to ...
Posted on 10th May 2017 Author: Planet Homes
Scouting for a dream home?
Don’t know what parameters should you keep in mind while searching for your residential property?
Here is a comprehensive list of factors that can enable people to evaluate a property thoroughly.
Right from the location to construction, from builder’s reputation to industry trends, from legal government policy to bank’s offers; there are a number of factors that are crucial for making a decision about purchasing your property.
These parameters would enable you to make your own check list before purchasing your own house irrespective of 1 BHK, 2 BHK, 3 BHK, villa etc.
So now let us move to check list.
1. Your Budget:
Plan your budget and devise a future income plan to compare your investment and your income. From EMI calculation, family’s future expenses to resale value, everything should feature in your budget. Buying a property for the ...
Posted on 21st April 2017 Author: Planet Homes
After a whirlwind of policy changes, India has reached a strange stability in terms of economic scenario. Smart Cities Plan, Demonetization, RERA rules, Housing for all initiative, and now GST is set to come into effect from 01 July; the real estate industry had a mixed reaction for the previous year. But industry is now quite confident of a good FY 17-18.
This is the beginning of a new chapter in India’s Real Estate Scenario indeed!
Experts are suggesting a surge in demand and prices of 1 BHK & 2 BHK homes in the first quarter of FY 17-18. There is optimism in the atmosphere which people can feel.
Especially the new construction in the fastest growing areas like Thane and Navi Mumbai, has been getting a lot of attention due to good infrastructure and affordability. Here are the five reasons to think about purchasing your 1 or 2 BHK flats now.
1. Improved Transparency in Real Estate Transactions
Posted on 02nd January 2017 Author: Planet Homes
When it comes to investing in real estate, we all know it takes the right amount of understanding of the sector and the market. If we study the current scenario, Thane is the like the hot bed for investors. It has recently won the ‘Smart City’ tag as well. When you are in search of your dream home, you would definitely have some pre-requisites like location, a good transport system to other points in the locality or city, beautiful spots, school, malls, hospitals etc around.
Ghodbunder Road located in Thane west fulfills all the above requirements and fits to be a place where your dream home can possibly be. Real Estate in Thane is rapidly progressing with huge population placement growth due to the emerging residential, commercial, retail and infrastructural developments.
So, why go anywhere else when you have a perfect location i.e. Ghodbunder Road, for your dream home?
Today, Thane is the second mos...
Posted on 19th August 2015 Author: Planet Homes
Buyer Advice – ROI
Yes, you've decided to buy a new house. Well, congratulations on that!
And wish you all the luck in the world......Oh wait, did we just say all the LUCK?
Yes, we did, and here's why.
We’re sure you've done all the due diligence in the world to come to terms with this asset class. But let's face it; the moment you think about a locality, you see a host of problems and a host of opportunities.
Yes, OPPORTUNITY, which probably will knock again after several years. An opportunity to make a wise d...