Trivandrum, the capital city of Kerala, is a fast-growing hub for technology, tourism, and healthcare. The city's strategic location and booming economy make it an ideal place for investment in real estate. Buying an apartment in Trivandrum can be a good investment, provided you make an informed decision. In this blog, we will discuss the advantages and disadvantages of investing in an apartment in Trivandrum.
Advantages of buying an apartment in Trivandrum:
The real estate market in Trivandrum is growing rapidly, with property prices increasing year on year. Buying an apartment in Trivandrum can yield high returns on investment in the future.
Trivandrum will soon have its own metro rail system, known as the "Light Metro," which is anticipated to enhance both the standard of life for its residents and the city's development. The upcoming Vizhinjam port is also expected to accelerate the development and prosperity of the city. The real estate industry will expand as a result of all these factors.Along with this the new 6 lane highway will make traveling to northern parts of Kerala much quick and easy
Trivandrum has a high demand for rental properties, making it an ideal place to invest in an apartment. Investors can expect a stable rental income from their investment.
Technopark, the IT centre in Trivandrum, is growing and is expected to soon surpass all others in size in the nation. Currently, Technopark is home to over 350 Indian and international businesses that hire over 60,000 professionals from all over India. As a result, there will be a higher demand for homes to accommodate the expanding population.
Trivandrum has well-developed infrastructure, including excellent road networks, public transportation, and healthcare facilities. This makes it an ideal place for families and professionals to live, which further increases the demand for apartments. As it's the capital of Kerala state all head offices of governments and other agencies are found here and chance of people renting apartments for work related reason is high and this makes is a perfect place to invest (high returns on rentals)
The construction quality of apartments in Trivandrum is high, with most builders using high-quality materials and modern construction techniques. This ensures the durability and longevity of the property, reducing the maintenance costs over time.
Investing in an apartment in Trivandrum comes with several tax benefits. Investors can claim tax deductions on the principal and interest paid on the home loan, which can significantly reduce their tax liabilities.
Nestled on 7 undulating green hills, Trivandrum is blessed with a bounty of natural beauty spots including a number of attractive beaches. Having been the capital of the erstwhile Kingdom of Travancore, the city is also home to numerous beautiful old buildings and tourism spots for both domestic and international tourists.
In conclusion, buying an apartment in Trivandrum can be a good investment if done with careful consideration. Factors such as location, construction quality, rental income potential, tax benefits, legal due diligence, and market fluctuations should be taken into account before making the investment. By following these guidelines, investors can ensure that they make a wise and profitable investment in real estate in Trivandrum.
Due to the rapid market change, now is the ideal time to invest in or purchase residential properties, flats, and apartments in Trivandrum. One of Trivandrum's most reputable and trustworthy builders, Varma Homes, provides high-quality residential buildings with top-notch amenities in excellent locations.
One of the greatest purchases most people make is purchasing a home, and with so many different types of homes to choose from, the process can be a little overwhelming. Trivandrum is a terrific place to live because it has so much to offer its citizens. Additionally, Trivandrum offers a large selection of flats to choose from due to the city's burgeoning real estate market.However, before committing to one, you will first need to make sure of these points which will get you a good deal. Research the market: Before committing to a purchase, it's important to familiarize yourself with the real estate market in Trivandrum. Understand the different neighbourhoods, the average price ranges, and the types of properties available. This will help you make a more informed decision about which property to buy.Get pre-approved for a mortgage: Getting pre-approved for a mortgage will give you a better idea of how much you can afford to spend on a property. It will also make the process of buying a flat much smoother, as you'll be able to move quickly when you find the right property.Hire a real estate agent: A good real estate agent can help you navigate the buying process and find properties that meet your needs. They can also provide valuable advice on things like negotiations and closing costs.Consider the long-term: When buying a flat, it's important to think about the long-term. Consider things like the resale value of the property, the potential for appreciation, and the overall livability of the area.Don't rush into a decision: Buying a flat is a big decision, and it's important to take your time and make sure you're making the right choice. Don't rush into a purchase just because you feel pressure to do so. Take the time to weigh your options and make sure you're comfortable with your decision.Here are a few key questions that you should ask before purchasing an apartment in Thiruvananthapuram1. What is special about this project?The builder ought to be able to persuade you of why this specific project is beneficial for you and provide financial justification for it. He should explain why it is superior to projects from other builders as well. This ought to address things like the calibre of the materials used, the after-sales services, the special features, and the excellent location.2. What is the built-up area of the flat?The builder should be able to answer questions about the carpet area, built-up area, and super built-up area precisely and accurately. The pricing of the apartment is based on the carpet area, which is the actual square footage of the apartment you are purchasing. To enable you to assess the overall cost and its viability, the builder should provide you with full details regarding the specs.3. Can you provide copies of all legal documents involved?You should request copies of the following documents, among others: the title deed, the commencement certificate, the approvals and NOCs from various agencies, the previous tax receipts, the RERA registration number, etc. All of these papers will make sure that the property is clear of any flaws that can later end up costing you money.4. What occurs if the project isn't finished on schedule?The builder should offer a detailed contract outlining his obligation to pay a specific sum for each month the project is delayed. This is one of the rationales behind the creation of the RERA statute.5. When should you anticipate the OC?Before you move into your Trivandrum apartment that is ready for occupancy, the Occupancy Certificate (OC) must be supplied; otherwise, you run the danger of being evicted.In conclusion, buying a flat in Trivandrum can be an exciting and rewarding experience, but it's important to do your research, get pre-approved for a mortgage, hire a real estate agent, consider the long-term, and not rush into a decision. With these tips in mind, you'll be well on your way to finding your dream home in Trivandrum.Since its founding, Varma Homes has effectively established itself as one of Kerala's most reputable builders. We started out with residential construction in Kochi and have since extended to Thrissur and Trivandrum. We'll be launching in Calicut and other big cities very shortly. To constantly produce the greatest service and quality in our pricing range, we make it our full-time goal. We don't have any projects that are stuck at Varma Homes since we firmly believe in creating satisfaction for both our team members and our stakeholders.Read More
Invest in real estate or invest in shares? You may have often wondered which the best form of investment is. Both have an image of being lucrative, but which is the better option? Is it better to invest in shares, or should you consider purchasing real estate instead? There are many options available when it comes to investing. The two most popular ones are real estate and stocks. But, many people find it difficult to choose between the two and often end up choosing both or none at all. Real estate and shares are two valuable investments. When it comes to buying real estate or shares, the ultimate choice is yours. Both entities will give you a financial return on your investment (ROI), but they can be different in many ways.Real Estate Vs Stocks in KeralaIf you understand what you've been doing, stocks can be a wise investment. You don't need a large sum of money to make investments in stocks and shares. There are several ways to do so, covering everything from mutual funds to using a share broker. You can also buy a stock market tracker or invest in equities. When you buy stock in a firm, you are truly purchasing a part of the company's ownership. Because of this, the value of your investment will increase or decrease depending upon how the company performs. In reality, stocks have a downside. They're a bit more dangerous, when you're buying stocks you end up with an excessive amount of risk exposure.On the other side, real estate is a highly accessible investment in many dimensions. You can estimate its worth and assure that you'll be able to earn the profits you desire. It's a tangible asset that comes with a slew of advantages, involving cash flow and appreciation (as do some share investments). As well as leverage, which allows you to grow your investment by borrowing money from the bank. This, blended with real estate's ability to function as a long-term hedge against market volatility & inflation, creates a powerful combination. And thus, makes it one of the safest ways to accumulate wealth, keep it, and even pass it down to future generations. You can either lease property for others to use it or buy property and rent it out yourself. Despite a few setbacks, it remains the best investment opportunity and will continue to develop in the future. Because of considerable economic growth, the average pay in most Kerala cities has improved. This provides everyone with a reason to plan for the future, making real estate a great investment alternative. Real estate has a weak correlation to the other major asset classes, i.e. even if the economy experiences a slump, stocks or shares may stop providing dividends, real estate counteract any severe economic downturn. To sum up,Long-term planning for the future is often difficult, but itís necessary if you want to be successful. This is particularly true for people and families that are looking to invest their money. Making a real estate investment can help provide a steady stream of income and create peace of mind in the long term. Real estate has consistently outperformed the share market over the last few decades. It's performing admirably and has persuaded investors that it is a sound investment. If you are looking to make money through your investments, then real estate is what you want to go with. It is better than shares, because the return on your investment will be much higher. The prices of real estate are increasing every year and if you invest now, then you can expect a high ROI (return on investment). So, if you are looking to buy an apartment in Kerala, then you can choose Varma Homes, a trusted builder in Kerala. Varma Homes is a renowned real estate builder in Kerala that offers residential properties at best rates. You can choose from an array of options to suit your requirements and budget. We have our apartment projects in major cities, such as Kochi, Thrissur, Thiruvananthapuram, and Kozhikode. Choose the one that suits your needs best! Contact us today for further information or visit our website for more details!Read More
2020 has been quite a year. Unquestionably one that won't be forgotten in their life. The COVID-19 pandemic has put newer perspectives on so many things. We witnessed unpredicted events for economies across the world. The pandemic carried ordinary life to a halt intruding on the development track of numerous businesses. It has uplifted vulnerability over the economy, work, relationships, finances, and obviously, physical & mental health. However, as people, we want security. We need to have a sense of security & have a feeling of control over our lives & well-being.† The outbreak of coronavirus in the nation has featured the upside of having your own home when contrasted with profiting a leased accommodation. So, owning a home has now become one of the inevitable parts in these unprecedented times. Hence in this new year own a new home, which implies exciting fresh start, new neighbourhood, & new environs to explore. Purchasing a home isn't only a dream, but a whole lifeís effort that individuals put in. The value set on it is a measure beyond sentiments & emotions. Then again, it absolutely makes tough to choose the best & and only a trusted builder like Varma Homes can help bridge this gap.† We build not just superb homes as well as an incredible community for people to live in. We will ensure each client's needs are followed and never compromise on the building materials & construction quality. Even during these tough times arising out of COVID-19, we were managed† to complete the projects ahead of the schedule. And we are creating a new benchmark to the real estate industry in Kerala, by completing the projects well ahead of schedule. Furthermore, our transparency is high as far as price, legal documentation, dedication & formalities. Besides these reasons, you can discover which is the best match for you in terms of unending amenities, senior assisted living spaces, good investment returns & guaranteed rentals. Thus, we can ensure that your home purchasing experience is simply incomparable & you remain tension- free when you approach with Varma Homes. Being the most trusted real estate builder in Kerala, we have created a special place in the heart of our clients by producing classic yet modern homes with great attention to detail & uncompromising business ethics. We are presently in the cities of Kerala which cover Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode focussing on our aim to construct happiness by widening our reach across different regions in Kerala. Dreams do come true when you discover the right way to realize them. So, go ahead with a reliable builder to realize your dream apartment project. Welcome this new year with a new beginning, forget whatever we faced in 2020, letís hope for the best.† Yes, it's true that we donít know whatís going to happen in 2021, but thereís room for optimism. We have a vaccine with the assurance of a world returning back to normal. So, hold out hope, perceive your dream apartment right now & make your New Year as prosperous as possible. Here is Varma Homes wishing everyone a gratifying festive season & more sociable & less restrictive 2021!Read More
Your credit score has a significant impact on the apartment buying process. It's a measure of your creditworthiness. The first thing a bank or financial institution does when evaluating your loan application is to take a peek at your credit score. They use this score to ascertain that you are eligible to apply. So, what kind of credit score is required to purchase an apartment? It isn't a three digit number that you earn every time you spend on something. It is far more. It is crucial to understand how your credit score will impact your interest rate, loan amount, and down payment. A credit score of 750 or above is generally considered good & can provide you with many benefits, such as faster loan approvals, lower interest rates, and so on. Let's take a look at the major factors that affect your credit score.Approvals of Loans: Your credit score may play a role in getting a loan approved. A credit score of 700 or above is considered to be a good score to get a home loan easily. If your score isn't up to par, you should communicate with your bank to find out how you can improve it.Loan Amount: If you have a bad credit score, your credit limit will almost certainly be less than the amount you asked for. For example, if you need Rs. 35 lakhs for a home loan, your low credit score may prevent the bank from approving this amount. As a result, if you want to be eligible for a larger loan, you'll need to work on improving your credit score.Loan Interest Rate: The other factor that is influenced by your credit score is the mortgage interest rate. So, banks will probably give you a lower loan interest rate if you have a relatively high credit score. And despite the small rate difference, the monthly EMI will be significantly lower.Increased Down Payment: When buying a home, a lower credit score can result in a higher down payment and a countless number of visits and calls to the bank. A good credit score helps to verify that the purchaser has the potential for repaying the loan. According to the guidelines issued by the Reserve Bank of India (RBI), a home buyer can get 80% of the property value as home loan. But, if you have a low credit score, the bank may sanction only a lower amount and you need to find additional down payment to buy a new home.Of course, there is no need to panic if you have a low credit score. Before you apply for a home loan, raise it by making timely payments. Banks or creditors are more likely to believe you can repay a loan if you can pay your bills on time because you seem financially secure and responsible. This will make the home-buying process go more smoothly. Here are some suggestions for raising your credit score. Pay attention to your credit report. Analyze it &, if necessary, point out any errors. Correct them as soon as possible. Concentrate on your mortgage. If you want to take out other loans, such as for travel or furniture, you should put them off. Examine your co-applicants payment records. Their credit score must also be within acceptable limits. To be financially sound & avoid having to pay extra interest, pay your credit card bills on time. Spend only what you have available on your credit card. Pay your EMIs on time & if you default on them, your credit score will suffer. You will be considered disloyal for a home loan. Hence, make a concerted effort to raise your credit score. Once you discover your dream apartment, working to improve your credit score will certainly help you to flourish financially. If you have good credit, let's not let the possibility of higher credit norms deter you from purchasing right now. So, be a wise buyer & keep all of these crucial points about your credit score & how it affects your apartment buying process in mind. Your dream is almost certain to become a reality very soon.In a nutshell, Whether you plan to buy an apartment in the coming months or years, the benefits of monitoring your credit score & working to improve it will help in the long run. Banks will check your credit score when you apply for a home loan to see if you are a responsible borrower. If you have a good credit score and are looking for a reliable and trustworthy builder in Kerala, Varma Homes is the right choice for you. You can trust us because we are Kerala's leading real estate builder. We provide high-end amenities in all of our apartment projects in major Kerala cities, such as Ernakulam, Thrissur, Trivandrum, and Kozhikode allowing many apartment buyers to realize their long-held dream of owning a home. Search our website for detailed information on all of our residential apartment projects and pick the best one.Read More
Purchasing a house is a major responsibility & it will be the greatest buy you make in your lifetime. Purchasing the correct one takes a great deal of time and research to find a property that matches with your long-time dream home requirements. Obviously, there is the challenge that ties in with finding a house which you can afford & enjoy for quite a long time to come. Also, it might be ideal if you save a cradle sum for a few different costs that are engaged with home purchasing. We are not mentioning the initial EMI costs or down payment that you need set up prior to booking your home. On the whole; here we are discussing different costs apart from home purchasing. Registration & Stamp Duty charges: There are registration & stamp duty charges that you should pay against your property. These charges become judged based on property value. Stamp duty is a mandatory payment that the purchasers give the government to register the apartment in their name. Registration and stamp duty charges in Kerala is typically 7 to 10% of the whole property cost. Maintenance Charges: Apart from registration charges, you should save some additional cash for the maintenance costs that you need to pay the builder. It is primarily a fee for maintenance of the amenities & facilities provided by the builder. Real estate builders usually take as long as a year's maintenance charge at the time you move into a new apartment. The maintenance costs fluctuate from one property to others as it relies upon the type of amenities it offers to the purchaser. Parking Charges: As well, there are also parking charges. You should pay an extra sum for the assigned parking area. In housing buildings, each flat or apartment benefits with a selective parking spot with your home number imprinted on it. You will bear an additional charge for it at the moment of purchasing the apartment & gain with problem free & easy parking each day. Property Tax: Another cost is the tax you need to pay against your property to the state government. The amount of tax depends upon your property value & it can vary from one state to another. Accordingly, you can get the estimation done in the initial stage itself. Even though you may the alternative of paying this amount on a month-to-month basis or quarterly or yearly basis. Interior Costs: Once you purchase your own home, you will have a plan to design it in your own way. For this one, you have to spend some amount in getting the interiors done as per your requirements & preferences. This spending can charge quite a fortune relying upon the specific nature of interior work being embraced. Preferential Location Charge: It is an additional charge that gets required when you book a flat or apartment with a specific location, floor & view. You may have to pay an additional cost for a home with a lake or garden view. So preferential location charge is an extra charge which every builder will impose & it will vary with the builder. Apart from this, you will likewise need to save cost for moving your things from the existing area to the new apartment. That is relocation cost, for this you should save some additional cash for the movers and packers services that you profit. So, when it comes to purchasing a house, you have to think about the above-mentioned costs and should have a different financial plan for it. If you are wanting to purchase an apartment from the most promising real estate builder who will clarify you about every costing associated with home purchasing, then trust Varma Homes. Being the top & most demanding real estate builder in Kerala, you can completely trust Varma Homes for your dream home, which will definitely be worthy of your hard-earned money. We do charge these costs yet we will inform you concerning each cost, & you can choose the property likewise. You can select your dream home as per your requirements & budget from our different residential projects in Kochi, Tripunithura, Thiruvananthapuram, Thrissur, and Kozhikode. You can learn more about our projects on our website and connect with our team today for making your lifetime deal with us!Read More