When searching for residential property in the niche market, it is significant to remember that you have to consider not only the quality of the property but also the quality of the neighbourhood also. Based on the location of your property, your home’s value can rise or fall dramatically. To help you make a better decision, here are 5 of the key features that a neighbourhood must-have for your apartment to get a higher value.
It is one of the inevitable features in a neighbourhood and it makes a locality extremely eye-catching to potential buyers. The approach roads to your neighbourhood, as well as the roads in and around the region, make a huge impact. Infrastructure plays a key factor for homebuyers in selecting a property as their residential investment property. The potential buyer will never be ready to purchase at a reasonable price if the infrastructure is poor.
It is one of the most important neighbourhood features to consider when selecting an apartment. One of the important parts of your child’s upbringing is education. Hence, families with school-age kids will be tending to go for residential properties that are close to schools. Do research the available schools in the locality will be a substantial variable which can upsurge your rental rate and considerably influence the whole appreciation of your residential investment property.
Everyone leads a busy schedule and they often need to commute from one place to another daily. Easy ways for moving in, out and around a zone are crucial to residents. Right from commuting employees to students who need to move from home to work or school, public transportation is the significant upgrade to any locality. A well-serviced bus stop, metro station or nearby railway station will enable residents to easily move from one area to other. Likewise, as many people are starting to embrace sustainable lifestyles, the demand for close public transit is also growing. The apartment property that accesses to fast and reliable public transit will draw more populaces than the property that lacks them.
Having access to hospitals to meet any medical emergencies is the key aspect when it comes to considering the locality of an apartment before buying it. Even though it is not needed daily but proximity to hospitals can save a life in case of an emergency. So consider the closeness of health care facilities when selecting a residential property.
Markets- Markets, shops, restaurant and entertainment within reach are also among the vital neighbourhood amenities you need to consider when investing in residential property. Having markets, restaurants and shops near the apartment property makes it easier for tenants to get goods and services they offer, closeness to restaurants and shops can be a signal that vicinity will grow in value in the future.
When it comes to purchasing your dream apartment with excellent neighbourhood facilities, all these factors can play a significant role in your verdict. If you are in search for your dream home with good neighbourhood then explore Varma Homes portfolio of apartments in Trivandrum, Kochi & Thrissur. Being the top builders in Kerala offering best residential projects strategically located at key locations of Trivandrum, Kochi & Thrissur to ensure unparalleled living experience. So get ready to experience a new level of happiness by living in the house of Varma Homes. Enquire now for the best possible deal and get your dream apartment in your favourite location with its full conveniences and comfort. Discover relaxed living in our quaint community at Varma Homes Apartments. Get in touch today to schedule your personalized tour.
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.Ø Right for InspectionBefore 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.Ø Right to Claim a RefundAs 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. Ø Right to Claim PossessionThe 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.Ø Right to receive benefits in valueFollowing 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.Ø Right to File a Complaint about the ModificationsAs 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.Ø Right to Get the Title DeedThe 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!Read More
Buying an apartment or home is everyone dream. Maybe owning a home is your years of planning and saving, so it is not fair to take a final decision in a hurry. There are certain things to keep in mind before purchasing an apartment. For purchasing an apartment some might take a loan from bank, followed by periodic instalments rolling out of your revenue, you need to be more alert. Though there are certain crucial factors to be considered while buying a new apartment, they are location, price, etc. Let’s check out the essential documents necessary for this and you are required to keep all possible points in mind before you take the leap and make a selection of your dream apartment. Property Worth The fixing of the budget is the first step for selecting an apartment, If you correctly know how much you can spend to buy an apartment, it will be easier to shortlist the house according to your budget. So when you plan to buy an apartment you need to compare the property prices of various builders and get an idea about it whether they are offering genuine prices or not. You can undoubtedly approach Varma Homes since we offer genuine prices for our apartments. Land Record The land where your apartment is constructed is also crucial while considering your purchasing decision. You need to research about the topography and soil quality of the land and also check whether the land is cleared of all the dues and properly registered or not. Apartment Location Location is also important while purchasing an apartment. The apartment must be in a secured and safe place since we are expecting to live in a peaceful area that should be free from all troubles. The amenities and the physical infrastructure of the selected apartment need to be checked. All apartments of Varma Homes are ideally located in major cities like Trivandrum, Thrissur and Kochi, So you do not worry about the safety or other related factors when you choose Varma Homes apartments. Financing Banks When you are planning to take a loan from banks for buying an apartment, then this is the best time since various banks offer different customized options with low-interest rate home loans for customers. They provide customized solutions for their customers who have approached them for granting home loans for fulfilling their dream of buying an apartment. In short, purchasing an apartment is an important decision you would take in your life, so you have the obligation towards your family and yourself to look into all the above considerations before buying your dream apartment. Varma Homes is the leading and trusted builder in Kerala offering new luxury apartments, budget-friendly flats and residential projects in Kochi, Trivandrum and Thrissur, which are designed to build happiness. We believe in bringing happiness to you with our exceptional services and offer you with an innovative range of apartments and flats that tie up with your requirements, If you are looking forward to buying apartments or flats in Kochi, Trivandrum and Thrissur, look no further, Catch Varma Homes, the pioneer builder in Kochi, give us a call, We are waiting to hear from you!!!!Read More
Thinking about a second home, if you have enough savings to invest in a second home, it will be a very plausible idea with high-profit potential. Since the real estate market has always been a risk-free & safe investment choice. However, before you go ahead with the plan to buy your second home, you have to consider certain things like you have no overhead debts, you have sufficient reserve and emergency funds and of course, you have a good and stable source of income. If all these are fulfilled, you can head down to execute your plan for your second home. Going to own your second home has several benefits in terms of investment choice or getting a regular income. Here we list down some reasons you should go for your second home if you have enough cash for investment. • The Promise of Assured Rent With high real estate prices, the clearest benefit of buying a second home is the promise of assured rent. As rental income has improved manifold over a period which makes buying a second home to rent out is the right method for a stable regular source of income. Also with the implementation of RERA and GST in the real estate market, now investing in second homes for rental income will progressively more become a trend. • Adding a High-Value Asset Owning a second home is obviously another investment in your investment basket. Due to the fast pace of growth in the real estate market in India, the value of your home would also be getting higher. So it will give you a high-value asset over a while and this may be sold later at a high price to liquidate the asset. For the time being, one can add to the rental income in their bonus perks. • Retirement Home As retirement emerges on the possibility, many of us commence worrying about their money & where to invest to relieve their retirement life. But owning a second home is the ideal investment choice & you got the freedom to go to a place for a change that is fully yours. Alternatively, even you can move to that home if you find it more suitable for your happy retirement life, renting out the earlier one. Otherwise, a second home can be used as the fixed source of income after your retirement if you put it on rent. • Tax Savings Buying a second home also comes with the extra incentive of tax savings. i.e. If you have taken a loan to own your second home, you can get tax considerations up to Rs 2 lakhs towards the interest paid & a tax deduction up to the total paid towards interest when the home is let out on rent. This aid you save tax on the loan simultaneously, adding up a high-value asset. • Savings for Future Purpose Despite providing extra rental income & tax benefits, second homes are considered good investment choices for the future purpose like children’s education, children’s marriage, retirement, future emergencies or events. Emergencies always come unexpectedly, so based on your financial state, you could very well sell your second home and use the cash to deal with your financial burdens. So, now we have seen the perks of owning a second home. In the meantime, if you want to buy a second home for investment? Check Varma Homes projects right away! Visit: www.varmahomes.com. Being the best and the most promising real estate builders in Kerala, you can completely trust Varma Homes for your future investment choice. We have our ongoing residential projects in major parts of Kerala like Kochi & Thrissur & Trivandrum. So believe in us, have the best home and get the best experience with us.Read More
Let's look at the present state of the real estate market so that you can get the best deal for owning an apartment or flat in India. As we know, the real estate market has witnessed a market decline or downfall in the number of people buying residential properties. One of the major cause for this fact that the property prices remain high when it compared to the average income of people. The concept of affordability also affected by an increase in income and interest rates. The rental yield is another factor that determines the level of demand for both investors and end users. Rental yield is the amount of rent paid per annum over the cost of purchasing a property. The demand for real estate started declining from the year 2013. By 2016, it hit an all-time low; the entire market was going through a bearish stage when it was affected by two main black swan events. That is the introduction of RERA in 2016 and then demonetization of Government that demonetized high-value currencies, which in turn washed out 2016 and 2017 for residential real estate. However, the impact of these is only short term and it will not have a long-term impact. I.e., it is true that the residential demand, sales and supply took a hit on the back of uncertainties surrounding RERA and GST. Though, with the improving clarity on GST & RERA, sales are expected to revive across categories and budget segments. Key Reforms In Real Estate Will Lift The Demand Now the change is already visible by the implementation of Government flagship mission “Housing for All by 2022” and its focus on the affordable housing segment. Moreover, the effective implementation of RERA restores confidence among homebuyers and the real estate sector is set to greatly benefit from RERA. Now the Residential real estate in India is set to make a comeback. Demonetisation had a healthful impact on property costs by restricting money transactions and checking speculative evaluation, successively increasing affordability, that may be a key to realize the government's flagship mission of 'Housing for All'. The government has also stretched the credit linked subsidy scheme till March 2020, which offers interest subsidies on home loans for Low Income Group (LIG), Middle Income Group (MIG) and Economically Weaker Section (EWS) under the Pradhan Mantri Awas Yojana. So it is clear that the real estate sector is showing signs of recovery and is in reforming stage where Government put its focus on providing affordable housing, consumer-friendly regulatory reforms and infrastructure to warehousing industry providing a sense of positive market sentiment. RERA and GST are now the prime factors that facilitate a recovery in the real estate sector. Recent evaluations after the implementation of RERA and GST indicate a 6 percent growth in housing sales across some of the major cities in 2018. The growth outlook across both commercial and residential real estate is turning progressive now. Based on estimates, by 2030, the real estate in India become a $1 trillion market. Hence the mess is over, buyers can come across to purchase their dream property without any second thought. Now they need to worry about the only thing that the selection of the best and trusted builder, finding the proper location & amenities while purchasing a ready to occupy or under construction 3 BHK or 2 BHK apartment or villa. Here you can stop your concerns about the selection of the right builder; you can undoubtedly contact Varma Homes, the top builder in Kerala. We have completed and ongoing residential projects in the three major districts of Kerala like Kochi, Trivandrum and Thrissur. Head off, to purchase your dream apartment with the most trustworthy real estate builder like Varma Homes. Find your dream home with us, great experiences are just around the corner!!! Also, read Importance of using RERA website before buying property.docxRead More
Yes, it is clear that the real estate developers and homebuyers were the biggest winners in the Budget 2019, and therefore the industry's housing extents may see a commendable shift. Real estate experts welcome the tax benefits and the various exemptions declared within the Interim Budget 2019 are probably upsurge the demand for real estate and in the affordable sector. The Finance Minister Piyush Goyal presented the budget on February 1st, the real estate industry had the major reason to happy as various direct, and indirect measures were proposed for the damaged sector. The property area, which has been fronting a number of multi-year demand slowdown, particularly with falling sales, may profit significantly from the new proposals of this budget. Let’s check out what real estate gained in budget 2019: No need to worry about two self-occupied houses - People who own up to 2 self-occupied properties do not need to pay any notional rent tax on them. Exemption of notional rent on the 2nd self-occupied house can give extra savings within the hands of the second home purchasers and will additionally boost the capitalist activity within the sector. Considering the problem of the middle class has to take care of families at 2 locations on account of their job, care of parents, children’s education, this move will offer a space to save more on housing taxes. Many folks would additionally request choices to purchase for homes after this rollout of the new benefit in housing investments. Capital gain advantages on 2 housing investments -The good thing about the change of capital gains underneath section 54 of the Income-tax Act is going to be boosted from investment in one residential house to 2 residential house for a taxpayer having capital increases up to Rs 2crore. This profit will be availed once in a lifetime. This reinvestment of capital gains in 2 homes, is expected to increase investment in residential real estate zone and make this market more attractive. TDS threshold for the tax deduction on rent hiked - The TDS threshold for deduction of tax on rent has been proposed to be increased from Rs 1, 80,000 to Rs 2, 40,000, which provide much relief to small taxpayers. Therefore, this move will definitely drive up the sales of affordable housing. Relief for housing developers & home buyers- The Interim Budget 2019 will offer abundant chances for the homebuyers to invest. Extension of the exemption limit for taxpayers will upsurge the purchasing capacity of the homebuyer, thus providing a path to attain ‘Housing for All’ vision. In addition, builders do not have to pay notional rent on unsold flats for two years after the year in which the construction is finished, which is a great step. Income tax rebate-The tax rebate concept helps Individual taxpayers, those having taxable annual income up to Rs five lakh can get the full benefit for the tax rebate and so won't be needed to pay any income tax. This proposal can facilitate in increasing the budget of house buyer’s and might give a giant boost to the demand for housing. The budget offers additional income within the hand of the residential land client, encouraging them to push their budgets up for brand spanking new homes, whereas conjointly providing tax incentives for finance in a very second home. It ought to increase demand in the residential niche market. The much-awaited auspicious time of the year is here, when persons look forward to spending cash on several kinds of stuff, especially homes and golds. Because of this favourable budget 2019 of Government, the real estate market gets a big boost and the homebuyers gained more benefits. Therefore, it is clear that this 2K19 is the perfect year for both housing developers and homebuyers. Experts say that there cannot be a better time to buy a house than now. If you have any plan for buying your dream home in your preferred location, then it is the right time. Also, you no need to worry about choosing the right builder; here is your solution Varma Homes, the best builders in Kochi. We building living spaces that truly matters your happiness. You can catch your dream apartment with us in the major prime locations of Kerala. So hurry up, now the decision is up to you…Read More