The desire to have a place to call home is what provokes the majority of people to own an apartment. But sometimes, they are stuck in the EMI vs rent dilemma and hence they are hesitant to take a good decision. Many questions may arise, such as whether it is sensible to pay more for an EMI when I can rent it for a significantly lower price, or whether I can handle the bank loan interest, and so on. Yet, in the end, most people choose to settle down in their own home.
Now it seems that the residential real estate industry is at its best now with several favourable factors that force people to buy an apartment in their favourite location. People can access loans at historically cheap interest rates now. Owing to the RBI's decision to lower the repo rate, home loan rates have fallen below 7* percentage, compared to 8-9* percent a year ago. If you have adequate monetary wealth, you can purchase an apartment. Though, if you do not, then also, you can try to purchase a home with EMI. After paying high monthly rent, you will eventually buy your home. Paying EMI is better than paying high monthly rents. After all, finally, you have your own property to call "Home".
In the case of renting, rent is a monthly payment that does not result in the creation of any physical asset. Paying EMI, on the other hand, has important impacts: it not only gives you present shelter but also advances the proportional possession of the property. While it is true that renting relieves one of the stresses of EMI payments, property taxes, & other legal concerns that come with owning a home. Unlike apartment owners, renters do not have to pay for maintenance or repairs, & they do not have to pay property taxes. However, owning a property as an investment might save you a significant amount of cash, thereby leaving you to build equity and also the appreciated land value will promise you a huge return on your investment.
Owning your own home is desirable, & the time is when you can afford it. Affordability is usually a crucial factor when it comes to purchasing your own home. As a rental, you will not find a decent property for less than 15-20k rupees in a good area, so even if you stay there for 15 to 25 years, you won't have a home to call your own. However, if you buy it with a home loan, you have a home of your own; you won't have any trouble settling down when you retire, a home increases your net worth & credit score, your future generations have an edge over others, and so on.
Without a doubt, owning an apartment is a worthwhile choice rather than renting one. Renting does not allow you to build equity in the same way that buying an apartment does. Also, your rent could increase at any time. You're perhaps under the control of your tenant, who may order you to leave or defer repair demands. But, when you take out a loan to purchase a home, you're already mindful of the EMI you'll have to pay over time. But it is worth than renting. Let's look at a real estate property in Kochi as an example. Consider the following scenario: You need to pay 20K average in rent to get a housing, with around 5% increase in rent per year. The rental range will increase in the next ten years too. On the other hand, if you purchase a nice apartment for 40–60 lakh & pay an EMI of 30K with today's lower loan interest rate for a period of 20 years, you will save a huge amount in the long run. Also, it might be possible that in twenty years, the price of your apartment will also increase. So, think about whether you want to invest in it. That is, do you want to pay around 2.5 lakh in rent per year or do you want to own a house that will be an asset to you?
In fact, renting has its own set of benefits, such as flexibility, HRA, & lower monthly costs, among others. But when it comes to apartment ownership, it offers a long-term investment with the potential to create equity & raise the value of your house over time, as well as tax benefits & the option to transform your home into a source of income & integrate yourself into your community. Furthermore, by taking the step of purchasing your own home, you provide greater stability for your family's lives as well as their social lives.
Besides, the sense of security & pride that comes with owning a house is unrivalled. And it is better to own your dream apartment through a mortgage, since it'll be all yours after a few years & you won't have to pay for it. But a rental house will always be for rent & you'll be paying for it for as long as you live there. Hence, it's quite obvious which option is the greatest.
So, don't get caught up in the buying vs. renting debate any longer! Buy your dream home with Varma Homes, one of the leading builders in Kerala, offering apartments in Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode with top-notch amenities.
Owing apartments in Kochi is the biggest dream of NRIs and the middle class people. Kochi is basically said to be an investors’ market and these investments of both the NRIs and the middle class people have fuelled up the growth in the city. Kochi has seen a massive growth in its IT sector and Infrastructural development through NRI investments. Kochi is one among the most expensive real estate markets in India. Significantly, the populaces with an annual income of 13 lakhs and above only can consider buying residential projects in Kochi. Furthermore, the average price of the new apartment projects in Cochin and the rental value is noticeably getting high in the commercial capital of Kerala. The city of Kochi is already in the process of progressing from the small town into a metro city. The major places like Tripunithura, Vyttila, Fort Kochi, Kakkanad and Edappally are becoming part of the prime residential locations in Kochi. Many number of new apartments in Kochi are found available for sale and rent in these places. Nowadays, the home buyers who are most interested in investing in flats in Kochi are the salaried classes - the NRIs and the middle class people. And both these classes are specific about the facilities and the amenities offered by the flat builders in Kochi. They are also price conscious and are not willing to spend their hard earned money on investing in the independent homes especially because of the unreasonable hike in the prices of such properties in Kochi. In order to help the home buyers in buying their dream homes, the Government of India is planning to drop the GST rate for property purchases under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%. As NRIs are not dependent on home loans for buying new luxury flats in Kochi, the middle class people are the most beneficial with the Pradhan Mantri Awas Yojana (PMAY) Scheme in India. Under the 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 younger generations are also into investing in new luxury apartments in Kochi mainly because of the increase in number of IT companies, rapid progress of the transportation sector and improved communication in the metro city. With the advancement of metro rail, youngsters also prefer to buy new flats in Kochi which are even farther from their work places.Read More
The trends and ideologies of having a home in gone modern in Thrissur. The orthodox nature of the city which was famous of its culture and artistic thoughts have now transformed to a fast growing city with pepping in of new commercial ventures in various domains. There is a high boom in the construction industry with the demand for developing residential spaces. A city which largely had a lot of individual homes have now changed to apartments which gives comfort, luxury and security. Varma homes, the most trusted builder in Kerala has now diversified to the city of Thrissur with the new project in Poochatty, Varma's Spectrum. Poochatty is an easily accessible location, which is just a drive in from the national highway that connects Thrissur to the rest of the world. A quick road access to the Cochin International Airport is definitely a major attraction for people who have a busy travel life. The location where the construction of this luxury apartment has all the major add on's as it's a fast developing part of Thrissur. The Bhavans Vidya Mandir School, managed by the much famous Bharatiya Vidya Bhavan group of educational institutions is a foot step away from Varma's Spectrum, the best builders in Thrissur. Life in Thrissur is literally a life with festivals. A life centered around the bliss of Vadakkumnathan temple, hosting art an cultural spaces and also to the much famous Thrissur Pooram which showcases massive drum ensembles, procession of pachyderms and fireworks. This project is curated by Varma Homes, the builder with a royal lineage. With tremendous domain experience and a dozen of projects in hand, Varma Homes is the most trusted builders of Kerala. Just pay 10% of the total cost as a booking right now and own Varma's Spectrum, Thrissur.Read More
It is everyone's longing to turn out to be financially independent. For this, most people depend on traditional ways to earn more, like being salaried in an organization or being self-employed. Yet there are different medians for individuals to enjoy surplus monetary advantages like stock purchasing, shareholding, and the long and worthwhile standby of retirement pension. Apart from all these, the most efficient way to earn is by investing in real estate. You can relish a profound pace of profits, astounding tax benefits & leverage of land to construct your wealth. Here are some reasons why real estate is an extraordinary investment. Reason 1: Predictable Cash Flow Cash flow is the net spendable profit obtained from the investment after every single operating cost & home loan installments have been made. When you purchase a good property from a reputed real estate builder in Kerala, the cash flow will be just as hefty. You can make money through rental income as it tends to rise over time, which can lead to greater cash flow. In most cases, cash flow makes stronger over time as you pay down your loan & build up your equity. As well, RBI has recently declared a reduction in the REPO rate which creates home loans even less expensive. So this will help you to smoothly begin your investment & hence increase cash flows. Reason 2: Get the Most Delightful Return on Your Investments From the pool of real estate builders, you can select the best real estate builder in Kerala who can offer the best quality construction works for their projects. Because the quality of the construction work matches the most excellent grades. So it comes with assured safety, security & top-notch amenities. This shows, by investing in those properties, you are going to accept the most appealing return on your investments. Reason3: Financial Security over Time While another reason that forced people to make their investment in the realty market is long term financial security. If you have a constant flow of cash in succession, the bonuses of this investment yield monetary bonuses for a long time. Possessing a residential property can give investors a sense of security due to the property appreciation over the long run. Well, this is only possible when you invest in the right place. So it is always advised to completely research the location before finalizing the negotiation on the apartment of choice. Reason 4: Hedge against Inflation In contrast to most different sorts of ventures, the realty market can contribute a hedge against inflation, which is yet another reason that pulls customers to put in this income stream. I.e. with high inflation, your rental pay & property value develop profoundly. Hence investors welcome inflation wholeheartedly because as the cost of living rises, so makes their cash flow. Accordingly, buying a property offers extra investment security during inflation. Reason 5: You Become Your Own Decision Maker The most satisfying part about real estate investment is that you become your own boss. Similar to any other business you have total authority & freedom over your investment strategies just as your flops and achievements. You make better decisions on which property to invest in, the tenants who will live in your property, how much rent to impose per month and so on. Reason 6: Qualifies you for Tax Deductions Another reason that real estate is an extraordinary investment, is the tax deductions you can take in this income stream. You get to deduct expenses straight connected to the operation, maintenance & management of a property such as property maintenance, insurance, maintenance repairs, property management fees, repairs, travel expenses, legal fees, and even the interest paid on the home loan. All of these deductions will reduce your taxable income, which might save you cash while you file your taxes. Reason 7: Admittance to Credit Reliant upon a variety of features, extra payment created from real estate investments might grant you admittance to added credit. Usually, loaning institutions finance more money to individuals who get more cash flow. The additional payment generated using property ventures may unfold more comprehensive credit lending entryways. To Sum Up, You can see the profits of investing in real estate while investing in other sorts of investments like the stock market. Investing in real estate can be your ticket to making passive income & reaching long-term financial stability. Nevertheless, before you can obtain these things, always remember that you need to make careful decisions when investing in your property. I.e. while choosing the right builder for your investment, is the first and the most important aspect when it comes to a real estate investment. If you are seeking a top-rated & most well recognized real estate builder in Kerala, then head over to Varma Homes and start searching for investment properties for sale across Kerala. We have our apartment projects at the prime locations in Kochi, Tripunithura, Thiruvananthapuram, Thrissur, and Kozhikode. Visit our website to get more information about our projects. Get in touch with us today to start an investment with us that will definitely offer you a lifetime of fun, happiness & priceless memories.Read More
Buying flats or apartments is a very important decision that involves essential planning. Location is one of the supreme features that we look into when looking for a spot to settle down. We all have that dream to buy our dream flat or apartment with all the modern apartment facilities.When looking for a place to live with your family, Kochi is an ideal location. It has the availability of good flats and apartment associations that suit various budgets, provided with the amenities of your choice.Kochi is a place which accepts all cultures. Also, people who try for a better job and better education, opt for Kochi as one of their choices. So, we can say Kochi is the city of the future.So, whenever you are surfing through internet and wondering that, "are there any new flats for sale in Kochi?", remember these points that why Kochi is a hotspot to invest in a luxury property right now and invest without giving it a second thought.Quality of livingPositioning itself in the list of best smart cities in the country, Kochi city has a lot to offer along the lines of improvement of life of its citizens and the quality of life is unparalleled with any other city of the state.The cosmopolitan city that is less crowded (compared to other metros of the country), has a community that enriches the quality of life. Along with its prominent educational and health-care institutions that are within reach, it promotes well-being and peace-of-mind among its inhabitants.A Good Cultural EnvironmentThese days, Kochi has emerged as one of the cosmopolitan cities because people from other parts are relocated here to lead a better and wealthy life. Most of the people are suave, educated, cultured, and well-behaved. So, if you buy an apartment from a pre-eminent builder at a prime location, you will get good neighbours and companionship, and this will surely uplift your social image and life. Most of the residential areas are thronged with good and well-behaved people and thus, you will be able to provide a healthy and good environment for their upbringing.Moreover, people are amiable and helpful, so if you need any assistance, you will get it. These kinds of friendliness and cooperation you may not get at other places. Though people are friendly, they don't interfere in other's personal life. So, you can enjoy your privacy without compromising your style of living.The economic capitalRanked among the topmost emerging cities in the country, Kochi is also the economical capital of Kerala. With the residential value constantly increasing in the last decade, the real estate market has witnessed unprecedented growth in terms of capital values and development activity and is expected to see continued growth across all parameters.IT boomThe technical boom is still evolving in India and is expected to rise even further in the coming years. Kochi, being home to many big multinational companies, IT companies, and start-ups, has huge job opportunities for a large number of people. With the value for properties and land constantly on the rise, the IT boom is directly or indirectly impacting the way Kochi is growing.ConnectivitySince its olden days, Kochi has been one of the most happening cities in Kerala and is still one of the busiest port cities in India. With the state's only metro-rail transport to its credit, a smart city tag, and an international airport, Kochi is very well connected to the rest of the state, country, and world.National Highway 66 (Old NH-47) one of the longest and busiest National Highway runs through Kochi connecting it with the Northern and Southern parts of the state. Two of the major railway lines of the state also go through Kochi, making it a transportation hub.Has Positive Ambience for Property InvestmentThe laws regarding real estate investment in Kochi are very facile and straightforward. You may not find any difficulty while accomplishing your real estate purchase. Moreover, the state has strong and robust networks of real estate consultants and agents who will help you in finding the most suitable apartment in Kochi.The entertainment hubAlong with the professionals, Kochi is also the favorite spot for artists, filmmakers, and the general public. With its abundance of spaces for recreational activities, Kochi has a lot to offer on the lines of fun and entertainment.Competitive Pricing for the PropertyCompetitive pricing is an important factor that you should consider when you are planning to invest in the real estate market. Kerala is a state that offers real estate properties at competitive prices. Though the state offers a chunk of properties with a comfortable and satisfactory condition, still, the pricing is lesser as compared to the other states of the country. So, you will be a gainer if you purchase an apartment in Kerala.Also Read: Why Kochi Is the Perfect Place to Buy a Flat Right NowClimateComfortable and convenient weather are two prime factors behind the popularity of real estate properties in Kochi. So, the climate is another prime reason that people are migrating to Kochi to lead a comfortable life. This state offers a similar kind of temperature throughout the year. Kochi observes a moderate temperature during the summer and the winter. This means you can lead a comfortable life here throughout the year. This is the main thing that you never overlook if you are planning to purchase a property at a certain place. Because you don't want to invest in such a place where the climate is too extreme.Another reason that was instrumental in driving up property prices in Kochi are the government's initiatives like single window clearance and concessional power tariff. The Kochi metro rail was also a boost to Kochi's reality market.If investing in property has been on your mind, then let Varma Homes guide you to the house of your dreams.Read More
Living in a big city has a lot of great advantages that are difficult to overlook. And for apartment residents, living in the city's center is the most popular alternative, since it provides the finest of metropolitan experiences. With the city's bustling nightlife, endless shopping options, and picturesque scenery, it's no surprise that living in the center of town can be pretty great. Here are some of the key benefits of living in a charming, contemporary high-rise apartment located in the heart of one of Kerala's greatest cities. Mass ConnectivityA flat or apartment in the city's center has direct access to all the main transportation hubs, such as the train station, bus stop, metro rail, airport, and so on. Another benefit is the easy accessibility to different regions of the city.Close to AmenitiesStaying close to the city's core also means being close to all of the city's essential amenities. The alleys in the city center should preferably have a blend of shops, retail malls, restaurants, salons, urban open spaces, & amusement centers, as well as educational and healthcare institutions. Those residing in nearby areas have the opportunity to see and admire the city lights long after it becomes dark, since shops in the city center remain open until late at night.The Better Choice for Social Activities Living in the city increases your odds of connecting with people, providing you with several possibilities to socialize. You can broaden your personal & professional networks by connecting with a group of people, whether they are college friends, neighbors, or coworkers. Meeting people from other regions of the world or with different life experiences is not only energizing but also helps you get a deeper understanding of the world.Close to WorkThe city's centre will be quite near the core business center, which will house the majority of the city's offices and employment zones. This means that houses in the city centre will be closer to work, making commuting easier.Varied Entertainment OptionsWhen you move to a metro region, you'll find lots of places to get out and thingsgo out to do for leisure & fun. Right from movies to sports facilities and gleaming shopping malls, etc. So, if you're looking for cultural and entertainment enrichment, relocating near the city center appears to be an excellent choice.Get the Best Medical Care FacilitiesIn comparison to major cities, remote towns lack the facilities and resources required for proper medical treatment. They also have to travel vast distances to visit a doctor to receive medical treatment. In contrast, medical options are typically more available in the city center. There are various walk-in clinics, physicians, & pharmacies spread all across the city, and many of the best hospitals are accessible only in metropolitan areas. Would you like to be part of having an apartment in the heart of one of the most popular cities in Kerala? We at Varma Homes, the leading real estate builder in Kerala, have assorted ongoing apartments in the center of the prime spot in Kerala. Are you looking for a vibrant, urban environment where everything is at your fingertips? Varma Homes has it all. Varma apartments offer homes that are a perfect blend of everything futuristic, including location, community, technology, & top-of-the-line amenities. We're committed to providing you with the opulent & convenient apartment living experience you've always desired. So if you’re searching for your dream home, browse through the stunning projects of Varma Homes.Read More