Buying an apartment can be an overwhelming endeavor, and there are
so many facets to consider. With countless laws governing the real estate
market, it may seem impossible to know exactly what you’re signing up for when
buying a property. It is therefore vital to have a basic idea of what the
contract entails before signing it. There are various laws pertaining to the
sale of real estate in Kerala which are meant to safeguard the interests of
both buyers and sellers. To avoid possible problems, homebuyers must be
informed of such laws and their rights under them. Here are some must-read
rights of a property buyer in Kerala to help prevent any potential issues
related to apartment buying.
Ø Right to Get Information
One of the key rights for buyers when buying a new apartment is the
right to get complete information about the project they are investing in. So,
the homebuyer can use this right to access all project information, legal
sanctioned plans, building layout plans, RERA registration number & other
specifications approved by the responsible authorities. After all, your home is
one of the largest purchase decisions you will make, and by having access to
all the information at your fingertips, you can be sure that your choice was
the best one for you.
Ø Right to Understand Construction Schedule
The prospective buyer has the right to be informed of the project's
step-by-step completion schedule, which includes provisions for electricity,
water, sanitation, and other services and facilities stated in the sale
agreement's terms and conditions.
Before you buy an apartment, you have the right to inspect it and
make sure it's in good condition. If it is an under construction project, you
also have the right to inspect the project's progress. This right of the buyer
to inspect the property before making full payment is intended to help minimize
disputes and claims of misrepresentation at a later stage.
As per RERA rule, the homebuyer has the right to claim a refund when
the builder fails to deliver possession of the apartment property according to
the terms stated in the sale agreement. In such cases if any dispute arises
between builder and homebuyer in terms of refund, RERA could help the homebuyer
to get the refund amount. The National Consumers Defense and Research Center
(NCDRC) has ruled that buyers are entitled to a refund if possession is delayed
for more than a year after the builder's agreed time. As per NCDRC, if projects
are not delivered within that specified time frame, the developer is required
to repay the full amount plus 10% interest.
The right to claim possession of an apartment could be considered
one of the most important rights that a buyer has over the property. This right
helps the buyer get his or her hands on the property once all of the necessary
formalities have been completed, and the required payment has been made. So, as
a homebuyer, you have the right to claim possession of the apartment, provided
the builder has handed over all the essential documents, such as the completion
certificate, rights to use common areas, if any, and building insurance, which
is compulsory under the law.
Following the transfer of ownership of the apartment from the
builder to the buyer, the buyer is entitled to any increase in the property's
value, as well as the rents and gains generated by the property. After the
deal, the builder may have no claim to the benefits of the apartment property.
As per RERA rules, a buyer has the right to file a complaint if a
builder makes any changes to the permitted plans, floor plans, fittings, and
amenities without the consent of at least 2/3rds of the allottees, apart from
the promoter, who have agreed to purchase an apartment in a building.
The seller's title to the property is transferred to the buyer when
the deed is signed. The seller must officially confirm that the property is
wholly free and clear of any legal encumbrances. The buyer owns the legal
rights to the property once the title deed has been registered.
Takeaway,
You have been educating yourself about your rights as a homebuyer,
drawing you one step closer to getting your perfect dream home. If you're
looking for the most trustworthy and responsible builder in Kerala to own your
dream apartment, Varma Homes is a wise choice. We bring you a broad range of
apartments that match your desires & balance your lifestyle in your
favoured locations in Kerala. Get ready & never hesitate to buy an upcoming
or under-construction apartment with the most trustworthy real estate builder,
like Varma Homes, as all our ongoing projects are registered under RERA. We
have strictly followed traits such as on-time delivery, top-notch quality, and
trust since the inception of our apartment projects, which has made VARMA HOMES
the best of the rest!
Onam is one of the biggest festivals of Kerala with 10 days of celebrations and fun. Onam is the season which shows Kerala at its cultural best where we get to see rich harvest, happiness, prosperity, family gathering with sadya, onam pattukal, traditional thiruvthira dances and so many outdoor activities. Double your happiness this Onam season by owning a luxury apartment in your dream city and start a new beginning in life. Buy a new flat in Thrippunithura to experience the family get togetherness and feel rejuvenated to smell the goodness of life. Many builders launch their new residential projects in Kochi with many offers that you can’t deny to for the first few bees. One benefit that you can look ahead to while buying an under construction flat is the discount offered during the launching time. In most cases, builders offer per square foot rate of a house at the stage of launch of the residential project with a lucrative concession lower than that what you have to pay when you buy the flat / apartment which is ready for possession. When buying a flat under construction, total cost may go down compared with a ready to move in. While buying an under construction flat, the only thing you have to take in account is choosing a trusted builder. Go for the reputed builders to minimize the risk. And the Varma Builders ensure the timely completion of residential projects. For this Onam buy a luxury apartment in Trippunithura from the renowned builders in Kochi to acquire a traditional feeling in the land of royalty which has a huge corpus of custom, culture, art, economics and space for fulfilled and spiritual activities especially during the festival time. Spirituality at the door step Owning a dwelling at a place that emanate divine legacy especially in a city like Thrippunithura is indeed a long cherished dream any devotee has. Located just a 300 metres from the famous Sree Poornathrayeesa Temple, Varma Kottaram offers a spiritual harmony as well. Livings near the temple also add cultural value. Experience the real regal life knowing the traditional culture by owning a luxury apartment at Varma Kottaram. Comfort & Connectivity Varma Kottaram is a G+4 luxury apartment project exactly located at Thrippunithura between Kalikkotta Palace and Sree Poornathrayeesa Temple. Varma Kottaram is 24 units with 2 & 3BHK apartments in 25.6 cents. Kottaram has all the modern amenities like Fitness Center in First Floor, solar energy utilisation in selected areas, fully automatic lifts, intercom facility, Fire Fighting System, children’s play area, roof top party area, terrace garden, recreation space, fitness centre, care taker room, Provision for 24 hrs. Power & Water Supply Facility, Sewage Treatment Plant, Water Filter, Surveillance Camera, Rubber Fender for Corners in the Car Parking Area and many more. Best Builders whom you can trust Varma Homes assures the timely completion & delivery of flawless and qualitative projects to the valuable customers. Come and book flat at Varma Kottaram during this Onam and enjoy a lifetime long merriment.
Read MoreWith the increasing number of new apartment projects in Cochin which has already set a backdrop for such a promptly emerging city, there is also a strong sense of an honest pride in the minds of every Kochiates for the captivating infrastructural development by the Kochi Metro Rail Project that gave a complete makeover to the city of Kochi. The latest news discloses that Metro is to touch Angamaly in the near future. The existing Metro line will be extended from Aluva to Angamaly. And the greater news is that the Kochi Metro service will soon be extended to Thrissur, which is just 50kms away from Angamaly. Kochi and Thrissur could now be easily connected via a metal belt, which will in turn boost the development of both the districts. The metro connectivity to smaller neighbouring cities will immensely help in their growth and development. Kochi and Thrissur have been closely connected through trade and commerce for several years. And with the Metro Rail service, these twin cities will have greater accessibility to many places including the International Airport that will surely let them to share various growth prospects together. The better international connectivity will greatly pave way for more global companies and cargo-based businesses to expand operations in the Cochin city and even in Thrissur. The enhanced employment opportunities will create a huge boom in the real estate market, making both Kochi and Thrissur the major real estate hotspots and residential hubs. With the predictable flood of people that will shift base to Kochi and Thrissur due to the kind of quality lifestyle that both these cities offer, there will be high demand for luxury apartments in Thrissur and apartments in Kochi. The prime residential areas that are going to be swamped by people’s attention are Thripunithura and Edappally in Kochi and Kottappuram and Poochatti in Thrissur. Since the budding of vast number of 2 bhk flats in Thrissur and flats in Kochi, it’s very much important for you to buy only the ones that live up to your expectations and meet all your needs. When thinking of buying a new home, it’s always best to go with the builder that you trust the most. One of the most promising builders of today, ‘Varma Homes’ have got some wonderful upcoming and ongoing projects in all the major locations of Kochi and Thrissur. The new launch in Thrissur - Varma Spectrum, the luxury apartments at Poochatti is one of the most spellbinding creations of Varma Homes that is highly affordable with all the modern amenities possible. Something else you need to further look at is the compact apartments of Varma Homes in Edappally called Varma Regent, the project handing over ceremony of which is to be held on 15th of January 2018. It is said to be the first project handover of the best builders in Kochi. With an advantage of being located proximate to famous schools, railway station and other well-known places of worship, Varma Maalika, the luxury apartments in Tripunithura is one of the cleverest choices that you can make while looking for luxury flats in Tripunithura. The project handing over ceremony of Maalika is finalized to be held on 1st of February 2018. Varma Kottaram, the luxury apartments in Tripunithura is one of the most desirable living spaces offered by Varma Homes for all the home seekers who look for a royal abode combined with elegance and most modern conveniences. It is one of the prestigious ongoing projects of the top builders in Cochin. The Varma Padipura, luxury apartments of Varma Homes located in Tripunithura is one of the ongoing projects which is crafted to perfection that o?er breathtaking views combined with a lifestyle that is designed for high ?yers. Ensure to make clever and wise decisions on real estate investments while the time is right in the most preferred cities of Kerala like Kochi, Thrissur and also Trivandrum. (To be continued…)
Read MoreDiversification and variety are crucial in life, be it in our personal sphere or our investments. Keeping all your arsenal under one shelter can have disastrous results at times, which makes it even more important to have multiple investment options. Real estate is a popular option among a number of people today, thanks primarily due to the safety and high returns on offer, but it is often seen that investors make blunders while investing, blunders which can have a harsh impact on their income in the future.If you do not want to commit any major mistake while investing your hard earned penny, flats in Thrissur by Varma Homes are one of the perfect examples for the same. If you're just getting started in real estate investing, don't expect to become an expert overnight. You can indeed make money buying and selling properties, but it takes knowledge, determination, and skill. It also helps to know some of the classic mistakes that others make when they start investing in property, to help you avoid making them as well.Mistakes to Avoid While Investing in Real Estate are as follow1. Not Having A Clear Investment StrategyYou should have a plan before you invest your hard-earned money in any venture. It's imperative when it comes to real estate. You should first identify where you want to invest your money. Residential homes are good options for beginners. On top of that, they also make for an easy sale later on.2. Not Doing Your ResearchAnother simple yet crucial step in real estate investment is to do your research. It might be tempting just to buy a property you like and hope for the best, but that's not how this industry works. You need to understand first what you're getting into, where you're investing your money, the potential returns (if any), and other related aspects.3. Not Considering The LocationLocation is a major factor when it comes to investing in a real estate property. One of the most major mistakes to avoid while investing in real estate property is not taking the location into serious consideration. Most people compromise on the location of a place if it costs less. This is one of the major mistakes to avoid while investing in real estate property. You might as well choose a good real estate property with the best facilities and resale value than pick a real estate property that is cheaper with numerous loopholes.4. Neglecting The Reputation Of The Realtors/BuildersThis is one of the most important things to keep in mind when planning to invest in real estate. Real estate brands and builders are the backbone of good real estate property and help in investing in one. So, when you seek a real estate brand for getting a property, it is essential to know that they are well known and have a good reputation and brand name in the market.Make sure that you keep in mind that not taking notice of the real estate brands you seek out is one of the important mistakes to avoid while investing in real estate.5. Lacking Proper PaperworkThe next common mistake to avoid while investing in real estate is nothing but not having structured paperwork. Paperwork needs to be on point to have a smooth registration process and handover of the property. Investing in good and strong paperwork is the best way to make the right decision.6. Blindly Trusting OthersA number of people who purchase property are first timers, who often rely on the word of others when they invest. Blindly trusting a third party while investing can be extremely stupid, for people are bound to do things in their best interest. Blind faith can lead to you spending more than what is necessary or purchasing real estate which doesn't suit your requirements. One should consult experts in order to get a clear picture and rely on the word of those who have a proven record of offering good deals.Committing mistakes is part of human nature, and while we cannot completely wipe out mistakes, we can learn from them. Remembering a few simple points can ensure that your real estate investment doesn't become one of the biggest mistakes of your life.The reality is that if investing in real estate was easy, everybody would do it. Fortunately, many of the struggles endured by investors can be avoided with due diligence and proper planning before a contract is signed.If you want to avoid making mistakes and want to invest in a real estate property that you think would provide you with the best results in terms of the property of value and return on investments, then you should check out the luxurious Flats in Trivandrum by Varma Homes and get your investments sorted.
Read MoreThe real estate investments in the city of Trivandrum are sure to take an upward shift in the days to come. Being the state capital and the second largest city in the state, Trivandrum is home to a huge number of State and Central Government organizations. The job openings at Technopark are attracting a great number of IT professionals to reside in the city, and thereby giving the city’s real estate market a major uplift. The Vizhinjam harbour project will also act as a game changer in the real estate industry, once when the work gets commenced. The Kerala Government has also proposed a plan to develop a metro rail system in Trivandrum which is proposed to name as “Trivandrum Light Metro”. It is going to be one of the major developments in the city, enhancing the real estate industry and economic growth. All the major real estate developers and home builders now have a strong presence in the city of Trivandrum with quite a good number of residential projects in the pipeline. When there is a rapid upward shift in the demand curve of residential apartments and flat projects in and around the city of Trivandrum, this is just the perfect opportunity to invest in one of them. Make sure that you take a wise real estate investment decision with the reputed builders in Trivandrum who guarantee timely delivery, exceptional construction quality and an impeccable lifestyle with all the luxury amenities possible. Varma Homes is such a trusted builders who have got a luxury flat project in one of the prime residential areas in Trivandrum. Varma Dr. Pai's Heritage at Poojappura, the new luxury apartment project from Varma Homes is named after one of Trivandrum's most gifted and respected sons, Dr. KN Pai. The super luxury apartments in Trivandrum are handcrafted with opulent amenities as it is one of the prestigious projects of Varma Homes. The present generation is changing their overall outlook and the graph shows a progress in the apartment style of living. The benefits on home loans and other innovative house financing schemes is encouraging more and more people to buy their own dream homes. With the increased developments in the major cities like Kochi, Trissur and Trivandrum, now is the best and the right time to make an investment in real estate.
Read MoreThe popularity of multi-generational houses and apartments started to grow during the COVID outbreak. This has influenced certain lifestyles and also triggered new trends. Generations see the benefits of co-living apartments that appeal to a multi-generational society, from seniors to middle-aged couples, from new parents to young people. The pandemic has taught everyone to stick together, support and encourage each other during an emotional crisis. Let's see why multigenerational living has become the most advantageous and interesting thing right now:1. An Affordable Option: When various generations live together, they can afford considerably more comfortable and luxurious residences than they could if they lived separately. This financial flexibility can simplify home maintenance and other utilities as well as household expenses. It also makes it easier for people to save more money for essential things like retirement, vacations, and educational funds.2. Safe & Secure Environment: With more people, there is usually someone at home to watch the house and make sure it is not empty. And, with adult children and grandchildren nearby, elderly parents or grandparents can seek help much faster than if they lived alone if they fall or have a medical problem.3. Emotional Backup: Living together can develop a priceless connection among children, parents, and grandparents. This is certainly relevant when they have a residence that is well-suited to individual requirements, personalities, and interests. Giving moral support and being present during critical circumstances are irreplaceable moments that only multi-generational living can offer.4. Improved Work Efficiency: With the older generation, youth management can be as easy as a cake. Parents may use some help, whether it's with mentorship or schoolwork. Chores, cooking, shopping, and other requirements can be divided and completed much more quickly. Younger people can tolerate strenuous physical labour, while older adults can handle less physically demanding tasks.5. Instil Feelings of Partnership: Your children will learn that all members of your family contribute and help each other. They become aware of and are influenced by the perspectives and love of the older and younger generations who live with them. This allows them to appreciate the wisdom that comes from strong family ties and expand their horizons in constructive ways.6. Easy on the Guardian: It would be stressful for the family guardian to care for the sick parent or grandfather if they weren't living with them and staying away. It's hard to constantly go back and forth to their parents' homes to care for them and back again as they juggle their home and family. It therefore becomes even more important to develop a multi-generational home.7. No More Sense of Loneliness: Isolation is a huge issue in our culture today for all generations. On the other hand, older people feel needed, involved, loved and valued when their extended families live together. The children receive much more help, guidance, and time with their families. Everyone will feel less alone. This may be a win-win situation for everyone if healthy family relations are in place. 8. Happier Work Settings at Home: With the latest remote working opportunities from companies, people are able to enjoy more flexibility and work from the relaxed and joyful atmosphere of their apartment. This structure led to fewer burdens and stress-free lives, which also steered them to greater productivity in their work.Varma Homes - Creating Multi-generational Constructs Since its inception, Varma Homes has established itself as one of the most renowned builders in Kerala. Our expert team has skillfully crafted apartments that can inhabit the desires and preferences of every generation. Own a safe and smart apartment where generational gaps are never an issue since we cater to the diverse mindsets of multiple generations and professionals. Going with the flow and following current trends has always been our motto, which is the recipe for our success and the reason why our stakeholders trust us. We present a modern lifestyle of luxury, convenience, and comfort, with the most advanced facilities and eco-friendly features. We started with residential developments in Kochi and then expanded to Trivandrum and Thrissur. Our major launches will be in Calicut and other major cities in the near future. You have a number of apartment options to choose from depending on your requirements and budget. Choose the one that best suits your multi-generational family! For more information, contact us on 96458 83333.
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