Are you someone looking for new apartments or new flats in the metro city? Then this is just the right opportunity for you to purchase any of the under-construction projects progressing within the metro city limits.
Under the Pradhan Mantri Awas Yojana (PMAY) scheme, a home loan subsidy interest amount of Rs 2.67 lakhs is provided to the beneficiaries and the amount is credited to their loan account. Thus, the home loan borrower is privileged to lower the EMIs and this lessens the principal amount of loan payable.
The Government of India is planning to drop the GST rate for property purchases with an aim to push demand, under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%.
On January 18, the GST Council had extended the GST concessional rate on projects constructed or properties acquired under the CLSS for the economically weaker section (EWS) of lower-income group and middle-income group.
EWS - Individuals who are earning up to Rs 3 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit.
LIG - Individuals who are earning from Rs 3 to 6 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit.
MIG-1 - Individuals who are earning from Rs 6 to 12 lakhs per annum are eligible for a maximum loan amount of Rs 9 lakhs. Interest subsidy is 4% per annum and maximum interest subsidy amount is up to Rs 2.35 lakhs. And the maximum carpet area limit is 1291 sq. ft.
MIG-2 - Individuals who are earning from Rs 12 to 18 lakhs per annum are eligible for a maximum loan amount of Rs 12 lakhs. Interest subsidy is 3% per annum and maximum interest subsidy amount is up to Rs 2.30 lakhs. And the maximum carpet area limit is 1614 sq. ft.
A simple and transparent tax applied on the purchase price is the biggest advantage for property buyers. All under-construction properties will be charged at 8% under the GST regime (excluding stamp duty and registration charges) on property value, adding that it will not apply to ready to move in properties and completed projects, as there are no indirect taxes applicable in the sale of such properties. In case of under-construction properties, levy of stamp duty and registration charges on the buyer will continue.
Under the current tax regime, the home builders are subject to central excise duty, VAT and entry taxes (levied by state) on construction material cost. On the services used (labour charges, architect fees, approval charges, legal fees, etc.), developers pay service tax of 15%. Real estate developers also grapple with the challenges of multiple-taxation and the cumulative burden eventually gets passed on to the buyer. As the benefit of input tax credit being considered as an added advantage, developers too will find the GST regime much simpler to work with.
A move of bringing real estate under the purview of the new tax regime, would definitely come as a major boost for the real estate investors of the ready-to-move-in properties. As of now, only the buyers of under-construction projects are covered under the new tax regime.
On booking Varma Homes, you can avail CLSS scheme under the PMAY on home loans and save upto 2.67 Lakhs (*Terms and conditions apply) and an additional 4% Goods and Services Tax (GST) deduction will also be available.
If you are someone looking for new apartments in Kerala and to get more information about any of the projects of Varma Homes, please do visit our website at www.varmahomes.com.
And to make a booking enquiry, please use the form on the website or telephone +91 9645 88 33 33 and we will get back to you as soon as possible.
Buying a new home in Kerala might seem like an easy task, but it is not. The concern of women's safety in the state has arisen after a series of incidents have taken place. In particular, those who intend to live with their children, wives, or aged parents have a hard time finding a good place to live. Take a look at these useful tips to consider before buying a home in Kerala without having to worry about safety concerns. The Right LocationWhen it comes to purchasing a home, location is very important. Individuals are now looking for protected zones rather than relocating to an area with future possibilities for reward. It's possible that crime rates were greater in some locations. As a result, it is preferable to conduct extensive research about the location before making a buy. Factors such as robbery history, chain snatching instances, and enough street lighting, among others, can be taken into account. The most helpful areas are those that include commercial and residential properties. The majority of the time, houses near malls, training institutes, workplaces, and stores are packed, with a high level of security. As a result, most people prefer to live in such bustling areas where safety is always a top priority.Prefer to Live In GroupsLiving in any type of group housing, whether it's an apartment or a villa, can help you give your family enough security. To ensure that their tenants are safe at all times, a smart builder employs active and watchful ground employees as well as cleverly placed CCTV cameras. They restrict salespeople and other outsiders from entering the residential blocks, making these residences the greatest choice for families looking for a safe place to live.Search for a Friendly NeighborhoodThe neighborhood is one of the major factors for women's security as well as social harmony. If neighbors can connect with each other or if they communicate well, then it will be easier for them to report any kind of suspicious activity in the area. A friendly neighborhood also helps if an elderly mother or a person who lives alone has been in an accident about which no one is aware. As a result, single women living in houses need a good, friendly neighborhood.Opt for Gated CommunitiesIn terms of security, gated communities have gained a lot of traction in recent years. These types of property projects provide tenants with 24-hour security and all of the necessary amenities. Security cameras, station houses, police headquarters, and dog teams are all available in the region. Gated communities are popular among single-woman buyers.Technology-Friendly Smart HomesIn today's world, having a technologically advanced home is a must. Of course, we're not talking about whether your home is Wi-Fi ready! CCTV cameras, burglar alarms, fingerprint sensors, & other modern security systems are essential for keeping your family members secure, especially children & women. Homeowners should choose between homes with standard features such as electronic smoke detectors and fire extinguishers and residences that can be customized. Maintaining Security at the Entrance & Exit PointsIf you need more security, secure every exit and entry point of your home or apartment. Installing a grill on your balcony is a smart way to ensure that your family is always safe. Don't forget to secure your home's glass doors and large windows if they're broken. In certain cases, thicker, non-breakable glass and a sound-latching mechanism might be conceivable.So keep these factors in mind when seeing a home, or better yet, make a checklist and cross them off one by one. It's the safest and surest way to end up with a home that not only matches you but will also be attractive in the future. If you are looking for the best real estate builder in Kerala, go with Varma Homes. Safety is not only for your home, but for your family too. At Varma homes, we understand that safety is one of the most important aspects of our clients’ lives, especially for women and children. As such, Varma homes have added top-of-the-line safety features. We put the most up-to-date safety features in our apartments. Such as emergency alarms, exits, earthquake-resistant materials, fire hoses, extinguishers, basement flood pumps, security guards, and CCTV surveillance. Our main focus is on customer happiness, we just don’t sell a house; instead, we provide an ongoing commitment to our valued customers, a commitment that lasts a lifetime. You don't have to be concerned about transparency or security because Varma Homes is completely trustworthy & all of our apartment projects are in Kerala's safest and most desirable areas. Visit one of our project locations to see for yourself how secure they are. We believe in providing experiences that are well worth your money.
Read MoreWith the government's new initiatives in the real estate sector, buyers have a plethora of apartment choices. However, owning a piece of land still has an unrivalled prestige value. So, when it comes time to relocate or invest for a more secure financial future, many of us are caught between two options. Here we compiled this helpful list that will help you choose wisely!Investment FactorOne of the primary disparities between a plot & an apartment is that you'll have to live in your very own house right from the moment you acquire an apartment & you'll save a lot of money on your rent. Whereas a plot allows you to create your own customized home, until then you won't be allowed to live there & you'll have to pay rent even if you invest in the plot. Also, when you buy an apartment, you can use it as an investment vehicle as you rent it to someone, but in the case of a plot, it won't be possible. So, compared to plots, an apartment is a smarter investment choice.The Hassle AspectAn apartment is actually a comprehensive package for standard living; you can select one that would be ready to move into where it contains all the things that an apartment life demands. Hence, you won't be worried about any further headaches or strain. A plot that you wish to build on is just land & you have to build it from scratch & you'll now have to deal with the troubles & groundwork of building the structure, obtaining legal permission, & ultimately upgrading it with lifestyle elements to keep it livable.Financial AssistanceFinding financial help for the purchase of a plot is more difficult than for the purchase of an apartment, since financial companies are hesitant to lend money for the purchase of a plot. So, as a result, there are limited alternatives for purchasing landed property, as banks often do not provide financing for the purchase of a land/plot, but it is effortless to get a bank mortgage for the purchase of an apartment.Compliance AspectIn general, the plot is considerably more likely to get entangled in legal complications & litigation. So, when you purchase a plot, conduct thorough research on any conflicts, & ensure to keep an eye on it till you build your home on it. As in India, several issues are raised regularly relating to illegal land capture. Although these concerns are much reduced when purchasing an apartment when the buyer is protected by RERA & he or she has the right to go for a petition for compensating & remedial action, if the builder didn’t guarantee their promises. Accordingly, as a precautionary step, today's builders will exceed expectations to guarantee that all legal & financial requirements are met.Return on InvestmentA plot can be acquired for the intent of constructing a new structure to get profit, or it could be utilized for other reasons. If you plan to acquire an apartment, only do so upon assessing the growth prospects of a specific neighbourhood. Your apartment's ROI will be higher depending on where it is located. Because of the increased movement of workers from other cities, an apartment in a desirable location will always have greater rental yields, providing you with a monthly second income & assisting you in being financially secure.Tax TreatmentThe tax treatment of plots & apartments differs. As in the case of an apartment, first-time homeowners are eligible for specific tax breaks. The tax deduction for interest on plots is allowed only in the year where construction is finished. Interest accumulated during project construction can be reclaimed as a deduction across 5 years in equal payments beginning with the year the work is finished, resulting in a delay in tax advantages. Holding a plot as an investment is not tax-deductible, but you can request a deduction for the interest given. Conversely, if the plot remains barren, it might not be eligible for a tax break.Value AppreciationThe plot has comparatively better value appreciation than an apartment. This is mostly due to the scarcity of plots on the market. The value of a property is determined by its location & proximity to major infrastructure developments. However, the land market is a cobweb, so when you buy, you must be vigilant. So the safest choice for individual investors is to buy apartments; keep it simple & get your 20 or 25% appreciation because the land is all about where you want to be on the risk-reward spectrum. Also, make sure to select an apartment from a reliable builder with a good location & surrounding infrastructure to increase the value of it.Scope of ResaleApartments are easier to sell as there is always a huge demand. Furthermore, apartments provide a variety of facilities as well as security features. The attraction of plots is that the owner owns the land & can create a new house to optimize returns. But when you plan to sell it, it may not be fundamentally enticing to a possible buyer market. He/she may then either invest more in repairing it or entirely demolish it to create a new one. This might have a reasonable impact on the price of the house. However, in the case of apartments, such an issue does not exist as they’re available with a fixed structure (part of the structure) &, thus, more convenient to sell at the value without extensive negotiations.After considering your wants, financial status, & commitments, take the best alternative. Having a plot implies that you should be careful with some choices. However, the benefits for apartments may be far greater than for plots. Because everything is already in place, you may begin earning profits on the first day. It is critical to seek apartment properties in affluent locations and, of course, from a reliable builder, so that you'd have a good chance of making a regular return. If you are looking for your dream apartment in the heart of Kochi, Thrissur, Thiruvananthapuram or even in Kozhikode, then do visit Varma Homes, one of the top ranking and most trusted builders in Kerala. We strive to enhance top-notch quality construction materials to create apartments that will stand the test of time. With us, you shall not be disappointed! You will get the guarantee of quality residential options that provide not just great living spaces but also a lot of happiness.
Read MoreHave you ever confronted a situation in which you frantically attempted your best to own a dream home yet, but it was put off by the steadily increasing property costs and loan fees? We are sure that a significant number of you have confronted this and still keep on doing so. Presently the solution to your journey for owning your own particular space on a financial plan is going to wind up a reality. A standard pattern that is making its essence felt in the Real Indian home is the making of Varma Dr. Pai's Heritage. Homes that are perfect for the ones who looking for a way of life that fit for the lord, Varma Homes are the most recent trends in the ultra-luxury segment in the Indian Real Estate. Varma Dr. Pai’s heritage is pulling more customers in our world with its sheer magnificence and the high-end amenities. Dr. Pai's Heritage is a unique apartment project comprising of 2 and 3 BHK luxury apartments with all advantages of autonomous home. Following showcase drifts, the Varma Homes plans to centre on expanding our housing portfolio with improvements over the fragments in super luxury apartments. With more number of individual desired to relish an elite and niche lifestyle, the plea for Varma Homes is on the ascent. The fact is that building a house to the home is not an easy task it comes up with amazingly elevated requirements, and just developers with a specific reputation, experience, and loyal brand can stand to work to them. It must be settled in the correct area and the developer ought to make a perfect neighbourhood that mirrors the selectiveness that these homes accompany. Aside from the host of pleasantries, these homes are a mark address, a door to a specialty societal position and these characteristics ought to be instilled in the plan of the Varma homes. We carefully worked to give a consistent living background; the venture will have all cutting-edge amenities. Varma Homes presents to you another universe of satisfaction, security and flourishing, providing finest apartments, townhouses, and luxury villas that match the prerequisites of clients with the one of a kind mark of a modern brand. Varma Homes gives you an immense feeling of the lavish way of life. Invest in Housing Apartments with the Finest Builders in Kerala Striding into the capital of Kerala, Thiruvananthapuram is an excellent achievement for Varma Homes. The heritage and values of the state capital is always inspiring to any builders. With the launch of our new residential project Dr. Pai's Heritage, we wish to deliver a quality lifestyle space in the heart of the Thiruvananthapuram city and want to become a milestone in this industry. Our main motto is to provide quality assured homes to all within the range of affordable prices. The vital essence of our mantra is to constructing happiness among needy people. Because of this, Varma Homes remains as one of the leading builders in Kerala providing diverse residential projects in all over Kerala. We bid a broad range of luxury and budget housing projects comprising ultra-luxurious apartments and flats with exceptional quality and comfort. Our projects mainly spread across various cities in Kerala like Trivandrum, Thrissur, and Kochi. From inception, we are always dedicated to providing superior quality homes on time with unsurpassed constructing happiness. At Varma Homes, we believe in creating experiences that are value for money, which is why we ensure that all our services are high in quality and effectiveness. We aim to provide a marketplace for the best residential projects while maintaining high-quality standards. Find the right luxurious apartments from Varma Dr. Pai's Heritage. The testimonials and previous projects that are mentioned on the website will give you a clear idea of what exactly we are capable of. Let us know, we are all ears!!!!
Read MoreEveryone has biased opinions of apartment living. In fact, it has diverse perks that differ from the living of an independent house. Well here are some common myths circulating about apartment living in general. Fortunately, these are just those myths! However, the truth is, an apartment is a better option than an independent house in several ways. Take a look at common myths about apartment living that need to be busted. Myth#1: Lacks Social Life Many accept that apartment tenants favor keeping to themselves & that individuals are not friendly. It's really funny when individuals assume occupants in apartments are excessively straight confronted and are probably going to mind their own interests. But in reality, luxury apartments have a wide range of amenities to keep the sporty vibe in the premises going. Right from ultra-luxurious clubhouses to complete health and sportive conveniences, they have everything. So apartments with an extensive amount of amenities promote social living and make everybody a part of a close-knit society. Myth#2: Not Convenient This is one of the greatest wrong misguided judgments about apartment living. Whereas apartments come with different conveniences to guarantee a serene & happy life for occupants. Be it maintenance or security, apartments are prepared to offer the best of metropolitan living. Myth#3: There Is No Privacy Apartments these days are created with much more consideration about the living experience than any time before. They are designed in such a means to guarantee the total privacy of families living inside. They are signified to give a hotel-like feel to the homes with no/minimum common walls within the apartments, soundproof walls, and a lot more customized conveniences to ensure privacy. Myth#4: Too Expensive Individuals will in general consider apartment living as a costly issue when contrasted with autonomous houses. In any case, apartments make a commendable investment guaranteeing quality living will all the essential conveniences. From swimming pools to 24 hours security, apartment living makes life simple. Myth#5: Not Sufficient Space Oftentimes when individuals hear the word 'apartment', they promptly think about a shabby, confined living space with no storage alternatives. Actually, numerous luxury apartments have a ton to offer in storage terms. Search for homes with spacious balconies, open-plan living, higher than normal roof heights & so on, where there is no question of space shortage. There we can find functional design elements such as separate laundry spaces, natural light, ventilation, and much more. Myth#6: Not As Safe As Independent Homes Basically, all apartments are provided with 24 hours security & CCTV surveillance of premises to guarantee the wellbeing and security of the inhabitants. Hence these are really more secure than independent houses which have the least security around the premises. Furthermore, the vehicles too have much greater and optimized space & safety in the car parking area of apartment premises, which is more protected than a car park in the garage of an independent house. In a nutshell, Perhaps the main thing you ought to get from this is that things that may appear obvious aren't factual. In fact, investing in luxury apartments can definitely be a great deal. But when managing your purchase of an apartment you should make an honest effort to research as much you can. Before focusing on the right apartment project to purchase, guarantee that you pick a renowned & reliable real estate builder with a good track record & reputation. As a home purchaser, it is your privilege and duty to check if the builder has enlisted the project with RERA & so on. If you are in search of the best builder, then here is your right choice, Varma Homes a name that stands for perfect top-notch quality home builders. We have a legacy of expertise in this field and refinement that is reflected altogether in our residential projects since the day of inception. With superiority apartment projects, we are probably the best builder in Kerala offering affordable and luxury apartments in prominent places in Kerala such as Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode. We ensure that all our apartment projects are constructed to serve the requirements of our buyers & and meet their happiness. Moreover, all Varma Homes projects are well planned & executed to guarantee that apartments are delivered on time, every time! From luxury to super-luxury apartments, we offer the ideal choices for home-purchasers looking for quality apartment living. After all, at the end of the day, we all want a home that matches our lifestyle, so enquire now to get what you dreamt of!!!
Read MoreEver dreamt of owning an apartment tucked away from the tumults of the city and also has the perfect blend of serenity and accessibility. If you're keen on scenery and have always visualized a life where you get up with the morning sun with the chirping of birds and live your day in an exceedingly peaceful lush foliage and a soothing breeze caressing your face then Bougain Heights by Varma Homes is the ideal location for those looking for apartments or villas in Kochi. It is located in the most tranquil living environ of Chottanikara. Spread across 10.60 acres, with two apartment towers and bungalows, guaranteeing that you are always in a space of complete joy. It is a serenely elegant 2 BHK & 3 BHK luxurious apartment project set amidst the green meadows with lush woodlands. It has a lot to offer as a residential area. The zone is blessed with its strategic location that makes Chottanikara the heart of Kochi. Flanked by lush landscapes and serene environs, yet a few minutes from the city, Chottanikara is a perfect place to have a home in Kochi. Given below are the few advantages of owning Bougain Heights as your resident choice. Connect With Nature There is nothing in the world that is more comforting and peaceful than getting back to nature. Stays on the beautiful pitch in the heart of the city are always demanding one. Set amidst lush greens with amazing views all around, Bougain Heights is a true green paradise amongst apartments in Kochi. After all, the environment influences your mood, so it is best to be in a place where you have the least stress. 100 Marks in Connectivity An apartment or villa located at the centre of the city enjoys seamless connectivity to all major transportation hubs like railway station, metro rail, airport, bus stand, etc. Also, easy access to other hotspots in the city are the prior things that the buyers search before purchasing their dream apartment. Bougain Heights has excellent connectivity in which it has proximity to, educational institutions, hospitals, malls, famous Chottanikara temple, Karingachira Church, smart city and Infopark. On top, it gives the inhabitants easy access to all the necessary necessities and urban cosiness of the city. So enjoy the full benefits of a joyful living with the life of Bougain Heights. Top-Notch Amenities & Accessibilities at Varma Bougain Heights Bougain Heights is furnished with all the modern amenities including Fully Automatic Lifts, Children’s play area, swimming pool, Intercom facility, Fire Fighting System, Rooftop party area, Terrace garden, Clubhouse/Fitness centre ,Recreation space, Provision for 24 hours power and water supply facility, Provision for 24 hours security, Water filter, Surveillance camera, Sewage treatment plant, Caretaker room, breath-taking surroundings with stunning picturesque view of nature. All together Bougain Heights is simply the luxury behind comfortable living, soothing nature and beyond values. Walk in and feel a cut above, the instant you step in. Being the top builders in Kochi, Varma Homes is the first choice for residential projects. We strive to make sure that you and your family experience a comfortable and opportune lifestyle. We invite you to realize an upper quality of apartment living bound with top in class facilities and services. Yet another good news of Varma homes is that they are soon presenting you Bougain Heights – Purple, the milestone of standard luxury living with the charm of nature enriched environs in Kochi. It is a 100-villa project at the same location of Bougain Heights with state of the art facilities spread across 8.5 acres of lands. Move into this luxury apartment and villas, and take your lifestyle to new heights of exquisite prudence.
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