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NRI Investments in the most expensive real estate markets
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.
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Mistakes When Buying Ready To Move Apartments
Buying a new property can be a very challenging task, as for a newly constructing property you will have to work along with the property builders. While buying a previously owned house, you can easily get enough and more information regarding it. The flat builders with whom you have decided to work along or to buy your new flats from, make sure to get their complete details and do not forget to check the builders’ background or previous construction history. The following are the most common mistakes that people make when buying a new property: 1. Lack of Proper Research The most fundamental step in buying a new property is research. Select a city based on your preference and make the basic enquiries about its vicinity, safety, infrastructure and development of the area in the near future, etc. The home-buyers have a tendency to listen to other’s opinions and forget to do this crucial step. 2. Consider Pros and Cons Getting first-hand information is always better than relying upon secondary resources. Look for the lifestyle of the area to best suit you and your needs by checking the proximity to local markets, malls, schools and hospitals. These are the basic requirements to consider if you are planning to move in with your family. Varma Maalika and Varma Regent of Varma Homes are the ready to occupy flats in Ernakulam which have already received an overwhelming response from the public. Both these carefully built apartments are accessibly erected in the prime residential areas of Ernakulam city. The new luxury apartments of Varma Maalika in Thripunithura, specifically positioned at S.N. Junction is proximate to almost everything. The place is interconnected to temples, shopping malls, schools like Bhavans, Choice & Chinmaya; and connectivity to mini bypass, the seaport - airport road and more. Varma Regent’s luxury flats in Edappally is nearby to all the prominent healthcare centres, famous educational institutions, popular hangout spots and other major commercial developments. Apart from the proximity to Lulu Mall, its easy access to Metro Station is an added advantage of Varma Regent. 3. Don’t go beyond your budget Don’t forget about your financial status when buying a new property. Plan your budget accordingly and apply for a home-loan in advance to avoid any unpredictable financial crisis in the future. 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. 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 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. 4. Verbal Promises Don’t fall for the verbal promises of your apartment builders, later on you may face the challenge of not having your dream home built the way you wanted it to be. So in order to avoid making such a mistake, visit the worksite personally during the construction and afterwards. Varma Homes strives to uphold their promise ‘Quality Assured Affordable Homes to All’ in every residential venture that they undertake. It is the essence of their mantra ‘Constructing Happiness’. The top builders in Kochi guarantees prompt delivery of their projects, as the motto of Varma Homes itself says “Varma Promises Timely Delivery” and they also complete their projects on time. For an instance, both Varma Regent and Varma Maalika, the residential projects in Kochi (Hurry up, only a few units left!) were not delayed, instead it were delivered well before the agreed dates and their present clients are immensely satisfied with their ready to move flats in Cochin. Always choose the most dependable and trustworthy home builders when buying a new property. Varma Homes is one of such reputed builders in Cochin.
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Why Will Trivandrum Be the Right Place For New Home Buyers In Kerala?
Trivandrum, the capital city of Kerala, has emerged as a top destination for new home buyers in recent years. With its strategic location, well-developed infrastructure, and serene environment, Trivandrum has become a hotspot for real estate investments. The city's booming IT sector, improved connectivity, and easy access to high-quality healthcare and education facilities have further propelled its growth in the real estate sector. This article will delve into the reasons why Trivandrum is the right place for new home buyers in Kerala, exploring the city's unique advantages and highlighting the key factors driving the demand for real estate in the region. Excellent connectivityTrivandrum has an excellent transportation system and is well-connected to the rest of the state and the country. Trivandrum International Airport, which offers regular flights to major cities in India and overseas, is located in the city. The city also has an extensive railway network, with many trains linking Trivandrum to important Indian towns. Trivandrum has a robust road network in addition to air and train access, with multiple motorways and state highways linking the city to various regions of Kerala and adjacent states. Trivandrum also has a strong internet and mobile communication infrastructure, with multiple internet service providers and mobile network operators offering dependable services. Quality educationTrivandrum, also called Thiruvananthapuram, is well-known for its excellent educational system. Many notable educational institutions, including universities, colleges, and schools, are located in the city. The University of Kerala, which is located in Trivandrum, is one of the oldest universities in India. The institution provides undergraduate, postgraduate, and doctorate studies in a variety of fields. Trivandrum also boasts a number of colleges and institutes that provide professional training in fields like engineering, medicine, law, and management. The Indian Institute of Space Science and Technology (IIST), the Indian Institute of Science Education and Research (IISER). Trivandrum offers a lot of good institutions that provide quality education in addition to higher education. Several of these schools are part of the Central Board of Secondary Education (CBSE) or Indian Certificate of Secondary Education (ICSE) systems. Good healthcare facilitiesThe Government Medical College Hospital, Sree Chitra Tirunal Institute for Medical Sciences and Technology, KIMS Hospital, and Kerala Institute of Medical Sciences are among the well-known hospitals in Trivandrum (KIMS). These hospitals provide a wide range of medical services, including emergency care, inpatient and outpatient care, surgery, and specialist therapies, as well as highly skilled and experienced doctors and cutting-edge facilities. In addition to these huge hospitals, Trivandrum has a number of smaller clinics and healthcare institutes that provide general care as well as specialist treatments in areas such as Ayurveda and homeopathy. Access to great healthcare is critical for living a healthy and pleasant life, and having decent healthcare facilities nearby may give individuals a piece of mind. When deciding where to buy a house in Trivandrum, it's critical to consider the property's closeness to hospitals, clinics, and other healthcare services. This is especially crucial for families with small children or elderly relatives who may require medical care. Having adequate healthcare facilities nearby might also be advantageous for people who suffer from chronic medical ailments or require specialist medical treatment. It can save time and money by decreasing travel time and expenditures, as well as providing convenient access to medical personnel and innovative medical technology. Cultural and recreational activitiesTrivandrum has a rich cultural legacy and provides inhabitants and visitors with a range of leisure opportunities. The city is noted for its thriving arts and cultural scene, which includes a number of festivals and events throughout the year. The yearly Onam festival, the Swathi Sangeethotsavam music festival, and the Attukal Pongala festival, the world's biggest gathering of women, are all famous cultural events in Trivandrum. There are also various museums, galleries, and theatres in Trivandrum, including the Napier Museum, the Kerala Science and Technology Museum, and the Tagore Theatre. During the year, these institutions host a variety of exhibitions, concerts, and cultural events. In terms of leisure activities, Trivandrum features a number of parks, gardens, and beaches where locals may unwind and enjoy. Kovalam Beach, the Veli Tourist Village, and Shanghumugham Beach are among the city's most popular leisure areas. Trivandrum also has a variety of sports and fitness activities available, including cricket, football, badminton, and tennis. The city has a number of sporting clubs and gyms, as well as outdoor recreational places for walking, running, and cycling. Trivandrum has a rich and diversified cultural and recreational landscape, making it a terrific destination to discover and enjoy for both inhabitants and visitors. Growing real estate marketTrivandrum's real estate market is steadily expanding, with rising demand for residential and commercial buildings. Because of its rising economy, solid infrastructure, and high quality of life, Trivandrum is a popular location for individuals wishing to purchase a property or invest in real estate. In recent years, the city has witnessed tremendous expansion in the IT sector, which has increased demand for residential and commercial buildings. Furthermore, the government's drive to upgrade the city's infrastructure has attracted numerous large-scale construction projects, strengthening the Trivandrum real estate market even further. Trivandrum has a particularly strong demand for residential homes, with an increasing number of individuals preferring to live in the city. As a result, the number of new residential developments, such as flats, villas, and gated communities, has increased. Trivandrum's commercial real estate industry is also expanding, with numerous new office buildings, shopping malls, and hotels being built throughout the city. The recent addition of LuLu Mall, with a total built up area of 2,000,000 sq ft, it is the largest mall in Kerala and one of the largest malls in India, a perfect place to shop and spend time with friends and family, along with this the Mall of Travancore which was the first mall in Trivandrum Located in the heart of Kerala's capital city, a Malabar group venture, it has become the unrivalled destination in Trivandrum, to experience shopping, dining & entertainment under one roof. The first green mall, we are an iconic landmark, being the first of its kind in Trivandrum, situated right in front of the Trivandrum International Airport. The real estate market is steadily expanding, making it an appealing location for people wishing to invest in real estate or purchase property. And who better to rely on than Varma Homes, which can give you the greatest advice and assist you in purchasing your ideal home
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How RERA benefits make buying an apartment the safest thing for you now?
It is possible that, as a first-time buyer while deliberating on purchasing a dream abode, choosing an apartment will cause you to second-guess your thoughts. After all, it's your hard-earned money and the secure future of your family that’s on line. There was once a time when different builders had different standards and principles applied to the purchase of an apartment, stirring confusion among home buyers. This is the reason why the Indian government brought about a revolutionary change in 2016 to safeguard the interests of existing and potential buyers. The Real Estate (Regulation and Development) Act was enacted in 2016 and the Real Estate Regulatory Authority (RERA) was born. The Kerala Real Estate Regulatory Authority (KRERA) was founded by the Kerala government to regulate and enhance the real estate industry in the state. KRERA is the new real estate champion, supporting accountability, citizen-centric policies, and greater financial discipline while defending the rights of investors. This Act is a sigh of relief for consumers as it makes real estate dealings transparent. Here are the positive RERA ACT benefits for why you can confidently buy an apartment now:? Exposure to comprehensive informationOne of the most essential benefits of RERA for house buyers is the right to property information. You get thorough information about the property that you are purchasing as a home buyer. When it comes to making prospective selections, this type of knowledge can be quite useful to a purchaser. The developer or builder should share with you all the project information, such as the layout plan, building phases, action plan, and completion status. ? A normalised carpet areaThe carpet area, or the area of the apartment apart from the width of the inner walls, is the space that can actually be covered by a carpet. Prior to the RERA Act, builders used their own technique or calculation for estimating the carpet area of a unit or property. RERA, on the other hand, has codified or standardised how a builder determines the carpet area. As a result of the RERA Act's implementation, a builder must now specify how much carpet space they are providing. Property prices in India are now determined by carpet area. ? No more holdups in projectsThe possession date for each flat must be specified by the property developer. The developer will face a flurry of penalties if the project is not completed by the deadline. If the developer fails to deliver on the specified date, the buyer has the option of either withdrawing from the project and receiving a complete refund, including interest, or continuing to work on it and receiving reimbursement and interest. ? Control over advances One of the great benefits of RERA is that a builder cannot charge more than 10% of the cost of the flat as an advance or application fee before entering into a sales agreement. ? Flaws are held responsible If a buyer discovers any flaw or problem in the structure, quality, or service of the flat within 5 years of ownership of the flat, the builder is required to rectify the deficiency within 30 days at no additional cost under the RERA Act. The buyer would be able to claim compensation if the builder failed to correct the fault. ? Mending broken promisesThe buyer has the right to litigate if the builder's obligations or promises regarding the actual project do not match. The buyer then has the right to decline the projects and receive a full refund of the initial deposit, plus interest and compensation. ? Approval before selling offBuilders may have sold projects without the necessary permission in the past. This is not the case under RERA now. Builders and real estate brokers will be obliged to register with the authorities, providing every detail about their projects, and only then will they be permitted to sell them after receiving the necessary approval. ? Prohibition to deviate fundsTypically, a developer will be working on multiple projects at the same time. They used to be able to divert funding between projects as they pleased. After the implementation of RERA, this will no longer be possible. The builder must set aside 70% of the project's proceeds in a separate bank account. He can only withdraw money from such an account after the project has been completed and certified by a civil engineer, an architect, and a practising chartered accountant. Because the funds can no longer be diverted to other projects or used for other purposes, they will be used for their intended purpose. ? Fast track grievance redressalComplaints against a builder can be brought to the state body established under RERA, which will have the jurisdiction to resolve all. If you disagree with the order, you may appeal to the Appellate Tribunal, which will resolve your case within 60 days. It will keep track of the reasons for any failure to do so also. The Varma PromiseWe at Varma Homes understand the buyer’s requirements and concerns. Therefore, all of our projects from the year 2019 are KRERA approved, following the industry norms, and are delivered as per our given commitments. We consider RERA as an opportunity to comply with a rule that warrants the hard-won endeavours and investments of many. If you aspire to buy an apartment in Kerala, Varma Homes is all set to take you ahead. We are a renowned real estate builder who specialises in providing accessible residential properties. You can select from a variety of alternatives to meet your needs and budget. We started with residential construction in Kochi and have since expanded to Trivandrum and Thrissur. Our major launches will be coming soon in Calicut and other important cities. Choose the option that best meets your requirements! For additional information, please contact us at 9645 88 33 33.
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VARMA PADIPURA, MOVE IN READY - WHERE CONVENIENCE MEETS LUXURY!
If you are looking for the best ready to move apartments in Kochi, look no further. Varma Homes presents, Varma Padipura. Our new apartment project in Tripunithura, Kochi offers the finest luxury 2 and 3 BHK flats in Kochi. With all modern amenities and easy accessibility, it is the perfect luxury home for you. It is a B+G+11 floor apartment with a perfect blend of contemporary architecture and features to deliver comfy living. The master plan of Padipura is designed in such a way that this apartment comprises of broad space with proper ventilation at each corner of the house. The interiors are exquisitely designed with stylish tiled floor, latest sanitary fittings in the bathroom, polished kitchen countertop, and huge windows for proper sunlight. It is another nearing completion project from the house of Varma Homes that match the desires of customers with a one of a kind mark of modern living. We at Varma Homes trust in investing our full efforts to construct happy homes for our customers to realize their dream of perfect homes. Our incomparable quality and highest standards in constructing homes ensure a comfy lifestyle for its inhabitants. Like our all apartments we can assure that, Padipura will become our next milestone in our vision of constructing happiness. Become Acquainted With Superb Amenities & Accessibilities at Padipura Padipura, situated in the land of royalty, the rich historical values of Tripunithura re?ects the depth of art, culture, and faith. It is far away from the hustle and bustle of the city but gives you sound access to all conveniences that today’s fast-developing world demands. It is very close to the famous Statue Junction of Tripunithura, the most appropriate place to have your dream home. The neighborhood is well connected with the city by rail, bus and cabs. Basic facilities like Hospitals, medical, banks, schools, educational institutions, shopping complexes, markets, entertainment zones, and tourists centres all are within an easy reach. This 2 BHK & 3 BHK apartment in Tripunithura is situated very close to the famous Poornathrayeesa Temple which lightens the lamps to the trail of the supreme deity. Also, it is standing just behind the Kallikotta Palace, a place where traditional south Indian art forms like Vocal Carnatic Music Concerts, Kathakali, etc are held. It's also now used as a marriage auditorium so localities take pride in holding their marriage functions here. Living in such a royal and pure temple town may be a dream for persons who would love to have a serene and divine life. The proximity to famous school Chinmaya, colleges, supermarkets, Infopark and above everything else will surely be the main highlights of living in this apartment. On top, it gives the citizens easy access to all the essential needs and modern comforts of the city. So enjoy the full benefits of happy living with Padipura. With all the high-end amenities including rooftop swimming pool, health club, fully automatic lifts-2nos, children's play area, intercom facility, terrace garden, recreation space, sewage treatment plant and beautiful surroundings of Padipura promises sundry choices to unwind and refresh at own home. Moreover, space offers you ample rest and peace of mind. Now our model apartment is ready, you are welcome. Come and visit to experience the grand living as never before in the heart of Kochi. Booking Open, Hurry! Only a Few Units Left…
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Why to Invest in Ongoing Apartment Projects
Real estate Industry is beholding an intensifying growth with positive revolution due to the improved transparency in the industry. Several Government reforms and the implementation of RERA have made the investment in realty market secured and easy. Real estate Builders are more careful than ever when it comes to construction quality and timely completion. Given the ever-rising number of builders and real estate projects, it is often a difficult task to pick one. The reason for which you purchase would assume a crucial part of the decision-making process. Some purchase a home for immediate occupation and some purchase for an investment choice. While most of the home buyers prefer to opt for ongoing projects, let’s take a look at a few of the benefits of investing in an ongoing apartment project: Price Discounts Offered: This is unquestionably the main benefits for apartment buyers with regards to booking ongoing projects in prime locations. The key intention is to grab the potential home buyers, to steady the cash flow and to make the credibility. So, if you book ongoing projects in the heart locations of the city, you make certain to get incredible offers or discounts. Most of the builders offer price discount on the final property estimation for the individuals who book an apartment on the ongoing stage. Many Options to Pick From- During the ongoing stage, only few of the apartment in the property may be reserved. This gives you better adaptability in picking a home of your decision. Be it regarding the Vaastu consistency, the floor plan decisions, floor number or closeness to any of the apartment facilities, you can pick a house to coordinate all of your necessities. However, once the ongoing stage is finished and there are more purchasers, you would have restricted options. Great Investment- If you can wait for a couple of years to move in ongoing apartment projects of the reliable builder, then it will be definitely a great investment. Particularly due to the appreciation value of the ongoing project. If you pick one out of a likely area, you make certain to get noteworthy appreciation costs when the construction work is completely done. Choose Varma Homes, The Best Builder in Kerala For Your Dream Home! Looking to book an ongoing apartment project in Kochi, the hub spot of real estate market in Kerala. Compared to other cities, it is the best place to settle down with family or as a bachelor, here you find Kochi as affordable to live, more convenient and accessible. Being the leading and the most reliable builder in Kerala, you can trust Varma Homes for your dream home! We have our ongoing projects in top locations of Kochi, Trivandrum and Thrissur. We build luxury homes with all the high-end facilities. We have a devoted group of experienced and profoundly skilled experts who are focused on realizing your dream home with a high value on your investment. If you are looking to have your dream come true home in Kochi, then come and feel the lavishness in our extravagance ongoing apartment project in the city of Kochi like Thiruvankulam & Tripunithura. Here are our 2 & 3 BHK Luxury Apartments with all the modern amenities. Located in the prime regions of the city, which are crafted with the finest care to detail and provide home buyers with an opportunity to experience a lifestyle that echoes the ethos of the city. Booking is now open for the projects Varma Padipura (Ready To Occupy) & Varma Bougain Heights (Work in Progress) with extra add on benefits. New projects are launching soon in Kochi at the locations – Vyttila, Vennala and Elamakkara. And more projects are also coming in the cities of Thrissur and Trivandrum as well. So, book your dream apartment in Kochi with us, great experiences are just around the corner!!!
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