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Pre-Approved Home Loan & Take a Step Closer To Your Dream Home

Looking ahead to the point where you want to avail pre-approved home loan to buy your dream home. Owning a home is everyone�s dream and most of us save up our hard-earned cash towards fulfilling this dream. However, our savings are not sufficient to achieve it, for this home loans options are there. After zeroing on the dream home the second biggest hurdle facing the home seeker is to obtaining a home loan. For this now, banks and financing institutions are providing loans much more handily than before. Pre-approved home loans are one of the most convenient and hassle-free ways to gather funds towards a home that you desire. It is the best way, as one will get a clear hint about the budget available for making the buying. This will aid you in thinning down the choices available and would be useful in finishing the transaction as quickly as possible.

What Is A Pre-Approved Home Loan?

Pre-approved home loans are slightly different from conventional home loans.� It is mainly based on the refund capability of the person and not fully reliant on the property itself. One does not want property papers or related documents to apply for pre-approved home loans. I.e. it is a hassle-free method and processing will be fast with bare minimum documentation. The bank or the financial institute can give a stipulated amount of time once the approval of a loan to finalise the property. If anyone fails to finalise a property within the stipulated time, one should reconsider his application at a nominal cost.�

What Is Pre-Approved Property?

Nowadays, mostly all builders get their residential projects pre-approved by lending institutions. The pre-approved property means that the particular financial institute has verified all technical and legal documents of the projects and has found them in order. Therefore, any buyer, who applies for the home loan for this property, do not require any legal verification.

Key Points to Consider While Applying for a Pre- Approved Loan

Pre-approved loans are like �Invitation to Apply� (ITA) offer and hence it is valid only for a certain period of time. Therefore, the client needs to apply in the specified time frame to be qualified for the offer or the aids it brings.
Enquire about the prepayment & pre-closure charges.
Compare available features and interest rates.�
Look for zero processing charges.

Important Features of Pre- Approved Loan

Faster loan disbursal: As most of the verification is done during the pre-approval phase, it becomes faster to get the loan disbursed once the property is finalised. In such a case, banks only verify the property documents and give the final approval, which helps buyers of properties that have a shorter window of the transaction and have a time limit involved in their transaction.
Lower Interest Rate: Pre-approved home loans may come with a lower interest. As the bank has already checked your income, current balance, repayment history and savings, it becomes clear that they are certain about you paying the installments on time.
Focused house hunt: The housing market deals horde of choices to buyers containing apartments, villas, independent houses, floors etc. Knowing one�s loan eligibility benefits the candidate to limit the search and focus on the property comes under that budget category. This saves time and effort as the properties falling out of the scope will not be considered.
Minimum Documentation: A pre-approved loan is offered to the existing customers, that is why minimum or no documentation is required, and the process is a hassle-free.
Better negotiation power: Having a pre-approved home loan enables you to negotiate with your seller. The builder will be aware that your funds are in order and that you are a genuine buyer as pre-approved loans are available for a particular period only.

You can start planning for your home and be ready to purchase it at the right time without having to deal with a last-minute loan rejection. Whether you are looking for the top builder in Kerala for owning your dream apartment, then you can heed towards Varma Homes. Step into Varma Homes and feel the magic of luxurious living along with zero concerns about taking of loan in order to make up for what is a shortage.� As we have the tie-up with all major banks, and we offer pre-approved loans for all our projects, which makes the entire process a whole lot stress-free. A pre-approved loan always gives a head start that regular loans do not and it makes loan disbursement convenient and easy for you. We offer apartments at the most-desired places in Kerala such as Kochi, Thrissur and Trivandrum with excellent amenities to give you the best lifestyle like no one else.� Now the good news for buyers is that you have to pay only 10% for the booking of your apartment. In addition, we provide some special offers on spot booking in some zones. So book your dream apartment now by paying only 10% with instant loan approval and take a step closer to living in your dream home!

Come, experience the magnificence of Varma Homes apartments that match your requirements and balances your lifestyle!

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Oct 08, 2021

The Golden Rules for Lucrative Residential Real Estate

If you want to increase your riches, entering into the business of real estate has always been a tried-and-true tactic. It's among the few investments that will thrive during a boom and then be securely maintained during a downturn. When it comes to selecting a great property that will be profitable, there are no special tactics or formulas to follow; it's simply a matter of using common sense. Investing in residential real estate is a popular way to put your money to work. Whether you're planning on buying a house for yourself or planning on doing investment, you must know the golden rules of investing in residential real estate. Here we've compiled a list of the golden rules in real estate to remember before investing, regardless of how big or small your investment is. Rule 1: Perception Vs Reality in the Housing Market When it comes to real estate investing, there is a big difference between perception and reality. While most people that get into the world of residential real estate investment have beneficial experiences, some people that get into the market for the first time will find things the hard way. So, before putting any money down, it's a good idea to do some research on a few properties and the surrounding area. There should always be strong demand impulses to help your investment appreciate in the future. Education institutions, proximity to public transportation, ease of access, a wide range of current amenities, and planned future improvements are just a few examples. Rule 2: Before Entering a Market, Learn About Its Current & Future ConditionsThe real estate market is not something to overlook. Before getting into it, make sure you understand everything there is i.e. know about the existing and future market conditions. Understanding your investment goals before buying real estate can help you make an informed decision on whether it�s right for you. When investing in the real estate business, you must understand what is happening in the marketplace so that you can make decisions accordingly. Rule 3: Pick a Healthy Real Estate Market & Carefully Select Location Real estate has always been a lucrative business, with plenty of opportunities for success. Yet, not all real estate markets are the same. To determine the best market to invest in, you need to consider several factors. The type of property you want to buy also matters when it comes to markets. For example, if you're looking at buying an apartment building or commercial real estate, then location is more important than the rest of the market conditions. Also, another factor is the employment rate. How many people live in your area and what type of jobs do they have? Are they mostly unionized or non-unionized workers? Do you have many people working in manufacturing or retail, or is it more service-oriented? You need to know this information so you can determine if your market will be able to support the kind of investment you plan on. That is, if the apartment you buy is in a high-demand area or is near to an industrial or educational area, then you have the possibility of renting an apartment. Or you can buy homes to resell them at a higher price later on, etc. That is, some locations will keep your property occupied at a premium monthly rental rate while also making high capital gains. While others will produce exceptional rental returns or are better suited for long-term capital gains rather than rental revenue. So, always select a location while keeping the city market and investment concept in mind. Rule 4: Seek Out Demand Drivers Before confirming a buy, potential buyers who have done their homework will always enquire about the demand factors that set it apart. As a result, always look for your apartment with the demand drivers in mind. New shopping malls, complexes, or towers, for instance, can be a prospective housing market with excellent rental income and capital appreciation. Infrastructure development, such as flyovers, metros, or new roads, as well as commercial hubs, can all be growth drivers. Because housing demand tends to rise in the medium to long term, these places could be a goldmine for you. In the meantime, you can supplement your income by renting a home.To summarize,When you invest in a home, you are making a big commitment. This is why it�s important to remember the golden rules for investing in residential real estate. If you follow these rules, it will be easier to find a property that offers high returns and low risk. So, contact the best real estate builder for your investment when it comes time to building your dream home. If you are looking for the best apartments in Kerala to invest in, Varma Homes is the right choice. Varma Homes offers a range of 2BHK and 3BHK apartments in prime locations across Kerala. We are one of the best residential apartment builders in Kerala and can assist you with all your real estate requirements. So don't wait anymore! Contact us today by visiting our website or giving us a call at +91-9645883333.

Apr 21, 2021

Buying A Second Home: What Factors Should One Consider?

The biggest financial investment most people make in their lifetime is buying a personal residence. It is truly a necessity & dream for all instead of paying rent to someone else. But what about investing in a second home? Is it a worthy investment? There may be many benefits but ultimately investing in a second home is desirable. There are many things to consider ensuring you are taking a smart and brilliant decision. Given below are some of the key factors that you should consider before you invest in your second home. Location It is one of the most crucial factors to consider when it comes to investing in real estate. Most importantly, if you are thinking of purchasing your second home as your income source, then obviously location matters. So, fixing up a home in a great neighborhood will give you the best return on your investment. Quite simply, it will be effortless to sell later. So, a location must have good proximity to all the inevitable things in our day-to-day life. I.e., it includes important amenities such as hospitals, schools, supermarkets, shops, restaurants, malls, public transportation, entertainment facilities, and so on. As you have a boundless number of choices when it comes to purchasing your second home, ensure the location of the property bonds into your need for the home. Cost You must be savvy when you choose to put investment in your second home. Thus, you need to make yourself very well financially, figuring in all the costs that you need to bear as of now just as later, keeping all the estimations prepared. Really at that time would you be able to start to consider purchasing a second home. Loan Let us imagine that you need more funds lying around to purchase a subsequent home � you will require a home loan. You need to consider different aspects before picking a home loan such as: �is it safe to say that you are qualified for one? What is your credit score? Can you be able to pay off the loan in the specified time without compromising on your financial safety? When you are sure that you will actually be capable of satisfying these conditions, then you can proceed. Lifestyle After all the examination, calls & visits, you decide to make your second home a weekend stay home, you can surround a property that is a reflection of your lifestyle. You can plan and adorn the property in the way you wish. You can drive up to the spot any time you need and make the most of your time there before you head back to your hectic routine. This is unquestionably a significant factor to consider before purchasing a subsequent home. The Return on Investment Another crucial factor to consider is the potential return on investment of the property. Numerous elements become possibly the most important factor, for example, the location of the home, rental scopes, social infrastructure & good connectivity to neighboring cities. Investing in a home with a high return on investment will subsequently give higher long-haul returns. Remembering this, it is a smart thought to invest in quickly appreciating areas where the investment isn't as high as the well-established localities. Furthermore, there is more scope for higher appreciation year after year. Income Option If you decide to purchase a second home as an investment then you can lease the spot � a splendid method to make back the initial investment on the sum it took to buy the house. Regardless of whether to lease the house for the long or short term will rely totally upon how you choose to manage the spot in the end. Owning a second home is a big decision & a big milestone in your life. Irrespective of whether the house is an investment or get-away property, the demand for land properties is on the rise. Numerous people discover real estate to be a more secure & long-term investment than others. Also, the happiness from owning a second home is far more substantial. If you are now looking for a second home that will suit you? Then head out to Varma Homes, the most trusted real estate builder in Kerala, and discover your dream home! We construct living spaces that really matter for your happiness. We have our strong presence in all major prime locations of Kerala such as Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode. So, hurry up, now the decision is up to you�

Mar 18, 2018

How to Save 2.67 Lakhs on Buying Home

Are you someone looking for�new apartments�or�new flats�in the metro city? Then this is just the right opportunity for you to purchase any of the under-construction projects progressing within the metro city limits. Under the�Pradhan Mantri Awas Yojana (PMAY)�scheme, a home loan subsidy interest amount of Rs 2.67 lakhs is provided to the beneficiaries and the amount is credited to their loan account. Thus, the home loan borrower is privileged to lower the EMIs and this lessens the principal amount of loan payable. The Government of India is planning to drop the GST rate for property purchases with an aim to push demand, under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%. On January 18, the GST Council had extended the GST concessional rate on projects constructed or properties acquired under the CLSS for the economically weaker section (EWS) of lower-income group and middle-income group. The home loan amount and interest subsidy rates are as follows: EWS�- Individuals who are earning up to Rs 3 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit. LIG�- Individuals who are earning from Rs 3 to 6 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit. MIG-1�- Individuals who are earning from Rs 6 to 12 lakhs per annum are eligible for a maximum loan amount of Rs 9 lakhs. Interest subsidy is 4% per annum and maximum interest subsidy amount is up to Rs 2.35 lakhs. And the maximum carpet area limit is 1291 sq. ft. MIG-2�- Individuals who are earning from Rs 12 to 18 lakhs per annum are eligible for a maximum loan amount of Rs 12 lakhs. Interest subsidy is 3% per annum and maximum interest subsidy amount is up to Rs 2.30 lakhs. And the maximum carpet area limit is 1614 sq. ft. A simple and transparent tax applied on the purchase price is the biggest advantage for property buyers. All under-construction properties will be charged at 8% under the GST regime (excluding stamp duty and registration charges) on property value, adding that it will not apply to�ready to move in properties�and completed projects, as there are no indirect taxes applicable in the sale of such properties. In case of under-construction properties, levy of stamp duty and registration charges on the buyer will continue. Under the current tax regime, the�home builders�are subject to central excise duty, VAT and entry taxes (levied by state) on construction material cost. On the services used (labour charges, architect fees, approval charges, legal fees, etc.), developers pay service tax of 15%.�Real estate developers�also grapple with the challenges of multiple-taxation and the cumulative burden eventually gets passed on to the buyer. As the benefit of input tax credit being considered as an added advantage, developers too will find the GST regime much simpler to work with. A move of bringing real estate under the purview of the new tax regime, would definitely come as a major boost for the real estate investors of the ready-to-move-in properties. As of now, only the buyers of under-construction projects are covered under the new tax regime. On booking Varma Homes, you can avail CLSS scheme under the PMAY on home loans and save upto 2.67 Lakhs (*Terms and conditions apply) and an additional 4% Goods and Services Tax (GST) deduction will also be available. If you are someone looking for new�apartments in Kerala�and to get more information about any of the projects of Varma Homes, please do visit our website at�www.varmahomes.com. And to make a booking enquiry, please use the form on the website or telephone +91 9645 88 33 33 and we will get back to you as soon as possible.

Jun 20, 2021

7 Reasons Why Real Estate Is an Extraordinary Investment

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.

Dec 27, 2022

The Apartment Living Lifestyle Of Kochi People

Due to the amount of urban development and the improvement in people's financial circumstances, the way of life of the people in Kochi is constantly changing. Additionally, the cost of land and houses have now grown due to Kochi residents' shifting lifestyles. As a result, there is a much greater demand for apartments and flats in Kochi.As the leading builders in Kochi developed innovative projects aimed at the salaried classes and high-profile individuals, including NRIs, the sector has experienced a surge in growth. Additionally, banks have done their share to lower the interest rates on house loans. Professionals and businessmen from all sectors are migrating to Kochi these days, and there is therefore a significant demand for flats and apartments in the city. Even for individuals who do not live in the city permanently, having an apartment or a flat in Cochin is thought to be a good option. Kochi is the most favoured city to reside in due to how easily accessible everything is. It is also perfect to live in Kochi close to the city's top hospitals, shopping centres, commercial districts, academic institutions, and airport.The number of property buildings from the greatest builders in Kochi has expanded as a result of the district's abrupt development. Even the banks have lowered the interest rates on mortgages in light of the expansion of the real estate market.The initiatives are mostly aimed at professionals, NRIs, and other salaried individuals who want to relocate to the "Queen of Arabian Sea."Why have Flats in Kochi??Even if it's not for living in, having an apartment in the city might be advantageous because many professionals can find apartments close to their place of employment. The benefit of the rental option goes to the property owners who have apartments close to the infopark and apartments close to Kakkanad.Since many government offices and the Infopark, Kochi's IT hub, are located in Kakkanad, these two areas are the key draws for IT professionals and government employees.Main Attractions of Kochi!!The demand for houses in the primary shopping destination regions expanded even further with the recent construction of the highly regarded malls in Kochi. The LULU mall in Edapally is the best illustration. When compared to other important areas in the city, Edapally has a larger density of properties.The projects from the builders, such as Retirement Living, which primarily targets retired people for quiet living with individuals of the same category, are another aspect that contributes to the changing lifestyle.The expanding Metro, which connects all of the city's key locations, is another benefit that contributes to the changing lifestyle because the key locations can be reached in a split second. And it's advantageous to live close to a metro station.Additionally, it is advantageous to be close to Kochi's top medical facilities, shopping centres, business districts, academic institutions, and airport.A Place For EveryoneEven residents of different states and districts choose to remain in the city because it offers all the essential services and necessities. Flats in Tripunithura and those close to the infopark, where there are many young people, are in high demand.Kochi is the most popular city to live in due to its simple accessibility via road, rail, river, and air transportation channels. Even those who are not permanent residents find Kochi to be excellent given the current state of investment and commercial prospects. Kochi may also be the parent of individuals from various locations.Since individuals desire to enjoy a lovely view, the demand for apartments that face the Arabian Sea is considerably higher. Due to the view's proximity to the port and the sunset, they also favour it.The demand for waterfront apartments from residents of other regions of the state is consistently high. As a result, there is a greater need for a higher standard of living. People in naive places are also in greater demand for apartments. In addition, they want to see how city dwellers live.Given its rapid urban development, Kochi offers builders a wealth of opportunities. They have the capacity to serve as the foundation for innovations that reach extraordinary heights. If you are looking forward to buying affordable apartments in Kochi, pay a visit to Varma Homes sample apartments.