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How to Plan a Budget for Buying a Flat in Kochi
Posted on Apr 01, 2025
Buying a home is probably one of the biggest decisions of your life, and a very sentimental one as well. It is not something that can be done offhand. You have a lot of planning to do, a lot of research, and a lot of budgeting. That’s right; after all, buying a flat involves huge sums of money. Which is why budgeting must be a priority in your real estate investment strategies in Kochi. With the right planning, you can get the kind of house you want without putting yourself in financial trouble. Here’s how you can do it: Look at the Market The first thing you need to do is study real estate market trends to identify good residential locations. Make a shortlist of locations that appeal to you for reasons like proximity to the city, availability of healthcare or education facilities, affordable pricing, or anything else. Finding the balance between cost and getting what you need is important, which is why you must know how to invest in the right property within budget in Kochi. What Do You Need ? When it comes to a home, our list is about wants, but it is important to prioritize. List your needs first, how big a house you want depends on the number of family members, and whether someone works or consults from home, so you may need a spare bedroom for a home office, and so on. Keep it to the minimum possible. You can find out how much a house of that size costs, and you can finalize a location accordingly. Assess your Financial Situation You must have a clear picture of where you stand financially. In a spreadsheet, list all your incomes and assets (from all possible sources) on one side and your expenses and liabilities on the other. Keep something aside for contingencies. This will give you a picture about your actual financial status. Based on this, you can work out how much home loan you can apply for. Remember, it should be an amount that you can comfortably pay back through monthly instalments. Down Payment You must know how much down payment you can make, as this can determine your tenure or EMI amount. The higher the down payment you can make, the better, because this means you can pay off the loan quicker and reduce your interest burden. Consider all Expenses When you’re purchasing a flat, you will also need to consider expenses like stamp duty, registration fees, brokerage, monthly maintenance and so on, in addition to the actual cost of the flat. You may also have to spend on furnishings and fittings. Leaving those out may cause you difficulties later. Also, assess your current monthly expenses and see if any of them are non-essential, like subscriptions and memberships. Remember that your house is your priority; once your income increases, or you finish paying off the loan, you can always subscribe again. Improve your Credit Score When you have a good credit score, you can apply for a bigger home loan. Make sure that your credit score is over 720. If it’s not, check if there are any discrepancies in your score, and contest them. You can get a free credit score from any credit rating agency like Experian or CIBIL. Bear in mind that you should not apply for a higher amount when a lower amount will suffice; after all, you have to repay it. Make Comparisons Shortlist home loan products; compare what each lender is offering with regard to down payment, tenure, interest rates, processing fees, prepayment penalties, and so on. Compare at least 4-5 different home loan offers from various banks or financial institutions. Conclusion Making a budget to buy a flat in Kochi requires a little patience and diligence, but it’s not very difficult. As one of the foremost builders in Kerala, Varma Homes can help you in that aspect by putting you in touch with verified, authentic home loan providers, including national banks, with whom we have built ties over the years. With RERA certification and customer service that sets the standard in the industry, you can rest assured that you will have a smooth property purchase experience with Varma Homes. We can also guide you with essential tips for selecting budget apartments in Kochi, should you so require. Ready to invest in your future with premium flats in Kochi? Let Varma Homes help you budget smart and buy with confidence. Start your home-buying journey in Kochi the right way now. FAQs How much should I save for a down payment when buying a flat in Kochi? You should ideally aim to pay at least 20% of the property’s value as a down payment. A higher down payment reduces your loan burden and lowers the EMI. Calculate how much you can realistically save without impacting your essential monthly expenses, and always factor in additional costs like registration, stamp duty, and furnishings. What financial factors should I consider before applying for a home loan? Before applying for a home loan, assess your income, existing liabilities, credit score (aim for 720+), and monthly budget. Create a detailed spreadsheet of your earnings, expenses, and assets to understand how much EMI you can comfortably manage. Also, compare loan offers from different lenders for the best rates and terms. Are there any hidden costs apart from the flat’s price I should plan for? Yes, apart from the flat's price, you should budget for stamp duty, registration fees, brokerage, legal charges, monthly maintenance, and interior furnishing. These additional expenses can significantly impact your budget, so including them in your financial planning is essential.
Read MoreEssential Checklist Before Buying a 2BHK or 3BHK Apartment in Kochi
Posted on Mar 19, 2025
As the most cosmopolitan and bustling city of Kerala, Kochi has always had a high demand for residential properties. The naval base, booming IT industry, corporate offices, glitzy shopping malls, and robust infrastructure, make Kochi an ideal place to settle down as a family. Of course, today, it is more advisable to purchase a flat, especially when both spouses are working, as it’s easier to maintain. But buying an apartment is not a simple task, and you need to plan well. Things to consider while purchasing flats in Kochi Where is The Flat Located? It is important to verify that the flat is located in a safe, clean, and decent neighbourhood. The presence of markets, primary educational and medical facilities is absolutely necessary. A wide approach road, access to public transportation and major roads is also important. Added advantages would be the presence of parks, entertainment avenues, and so on. Is the Builder Trustworthy? Check the builder’s credentials and ascertain if they deliver what they promised and when. What are previous customers saying about him? Do they stick to the budget? Check online reviews and ask around in your circle too. This has to be an important part of your real estate investment strategies in Kochi. What are the Facilities and Amenities Provided? All apartments come with a set of amenities nowadays. Of course, every building isn’t likely to have the same features, but there are a few common ones, like swimming pool, gym, security, power backup, and so on. Are there any specific amenities you need or want? Then you should check if the apartment you are looking at has those amenities. What is in the Floor Plan? Never ignore the blueprint or floor plan; this of course applies to under-construction apartments. Where are the doors, windows, and bathrooms placed? Where do they open? If you believe in Vastu or Feng Shui, you may want to verify that the floor plan conforms to them. Placement of windows also must be practically looked at and checked to see if they offer adequate natural light and ventilation. Is the Building in the Right Zone? There are different zones defined by the government when it comes to land agricultural, residential, commercial, industrial, mixed-use, and so on. Check the local records and ascertain if the apartment is constructed on the appropriate land and zoned properly. If not, you may face problems later. What is the Carpet Area? This refers to the actual size of the flat; often the flat size mentioned includes your share of the common areas, like lobbies, lift, garden, and so on. It is also called a super built-up area. It is important that you know the exact measurements of your flat and the dimensions of each room. Inquire how much is added to your actual carpet area. This will help you to decide if the size is adequate for your requirements and also to plan the furnishing. You need to consider your budget and the size of your family to choose between a 2 BHK and a 3 BHK flat. What is the Construction Quality? It is important to check the quality of construction, and for that you need to go and visit the apartment yourself before you make a final decision. See for yourself what quality of cement, steel tiles, putty, wires, pipes, paints etc. the builder is using. Are All the Legal Documents in Order? There are many legal considerations when buying property in Kochi that you must be aware of. Many documents are involved, like title deed, sale agreement, RERA certificate, land tax receipts, approved building plan, non-encumbrance certificate, occupancy certificate, etc. Ask to see these documents before you make a decision. Is Ample Car Parking Available? This is crucial in today’s world, where every family often owns multiple vehicles. Different types of parking like open, garage, stilt etc. are usually available in flats. There should be a minimum of one parking space per flat. Conclusion Varma Homes apartments fulfil all the questions in the checklist above. All our projects are RERA approved, and our buildings are as aesthetic as they are functional, featuring world-class amenities. Superbly designed, our 2 and 3 BHK apartments are a cut above the rest. Come check them out yourself today. Looking for a hassle-free move to your dream home in Kochi? Discover our Ready To Occupy Flats In Kochi, offering premium 2 and 3 BHK apartments in prime locations. With top-notch amenities, superior construction quality, and RERA-approved projects, Varma Homes ensures a secure and comfortable living experience. Get in touch today to schedule a visit and find your perfect home. FAQs What are the key factors to consider when buying a 2BHK or 3BHK apartment in Kochi?When purchasing an apartment in Kochi, consider factors such as location, builder reputation, amenities, carpet area, legal documentation, and construction quality. It’s also important to check for RERA approval and ensure the property is in a well-connected and safe neighborhood. How do I verify the legal authenticity of a flat in Kochi?To ensure the legal authenticity of a flat, check for important documents like the title deed, sale agreement, RERA certificate, approved building plan, occupancy certificate, and land tax receipts. Consulting a legal expert can also help verify these documents. Why should I choose a ready-to-occupy flat in Kochi instead of an under-construction one?A ready-to-occupy flat eliminates waiting time, ensures you get what you see, and allows immediate possession. It also minimizes risks related to project delays and unexpected costs, making it a safer investment choice.
Read MoreLTCG Tax on Real Estate in Kochi: Key Facts You Should Know
Posted on Feb 27, 2025
If you have bought or are about to buy property in Kochi, you are most likely aware of why real estate investment in Kochi is the best option among other cities in Kerala. However, there are several legalities you should be aware of, and one of them is the long-term capital gains tax. What is Capital Gains Tax? People invest money to make a profit at a later date; some profits or returns come quickly, while others are realized after a long time. This is called long-term capital returns or gains, and are made from the sale of capital assets like property, vehicles, costly equipment, collectables, and shares. The profits made from the sale proceeds of these assets are taxed. Knowing the facts about capital gains tax should be a priority of your real estate investment strategies in Kochi. Long Term Capital Gain (LTCG) Tax Any income earned by selling real estate held by the owner for over 24 months, is considered long-term capital gains tax. Profits up to 1.25 lakh rupees are exempted, and anything over this amount is taxed at the rate of 20%, and an additional cess and surcharge as applicable may also be levied. Tax Rate for Sale of Property Long-term capital gains tax on the sale of property is taxed at: 20% with indexation (If sold prior to 23rd July 2024) 12.5% without indexation (If sold on or after 23rd July 2024) As long as you have purchased properties after 22 July 2024, you can choose either option for your tax liability. Long-Term Capital Gain/Loss Any sale of property made on or prior to 22 July 2024 will be taxed at 20%, and will be adjusted for inflation through indexation. Sales from 23 July 2024 onwards will attract a tax of 12.5%, and no indexation benefit will be provided. In case of land and building acquired before 22 July 2024, and disposed of after 23 July 2024, the seller can choose to pay 20% tax with an indexation benefit, or a flat 12.5% tax without indexation. As mentioned before, LTCG tax can also have a cess or surcharge added to it; the health and education cess is at 4% of the tax, so you end up paying a total of 20.8% tax on the profits made from the sale of a property. What is Indexation? It is a way of adjusting the cost of the asset according to the inflation asset; this increases your acquisition cost and reduces your profits, essentially, reducing your tax liability. Let’s suppose your income puts you in the category of 30% income tax; however, you will not have to pay 30% tax on profits made from selling property, but just 20%. LTCG calculation Sale amount of property – (Indexed Cost of Acquisition + Indexed Cost of Improvement + Transfer Expenses) You can further claim exemption under sections 54/54F/ 54EC, and arrive at the final taxable amount. How to Save on LTCG Tax Use the whole amount to buy a new residential property within one year before you sell the property or two years after you sell it. You can also build a new house within three years of the ale. Invest the whole proceeds in bonds issued by Rural Electrification Corporation Limited (RECL) and the National Highways Authority of India (NHAI) within six months of the sale of the property; there is a limit of 50 lakhs per financial year. Invest the entire amount in a capital gains account scheme; you can withdraw money from this account to buy property; once withdrawn, you must use it within 3 years. Conclusion There are hundreds of reasons why you should consider real estate investment in Kochi. It is the most vibrant and cosmopolitan city in Kerala, and a thriving commercial and strategically located city. Now that you have understood the tax implications of selling property, it is the right time to sell your old property and invest the money in a premium 2 or 3-BHK flat from Varma Homes. With world-class amenities and spacious layouts, our apartments in the best residential localities of Kochi are sure to amaze you. Step into the world of luxury with Varma Homes and discover the finest Luxury Flats in Kochi. Experience unparalleled elegance and modern amenities tailored to enhance your lifestyle. Visit us today to explore our exclusive properties and take the first step towards living in the lap of luxury. Don't wait—your dream home awaits at Varma Homes. Schedule your personal tour now and see why we are the leaders in luxury living. FAQ’s What is Long-Term Capital Gains (LTCG) Tax? LTCG tax is imposed on the profit gained from the sale of a property that has been held for more than 24 months. The profit exceeding 1.25 lakh rupees is taxed at a rate of 20%, along with an additional cess and surcharge as applicable. Understanding LTCG is crucial for anyone involved in real estate investments in Kochi. How does indexation affect LTCG tax calculations? Indexation adjusts the cost of acquisition of the property to reflect inflation, effectively increasing your purchase cost and reducing the taxable profit. This adjustment allows you to reduce your tax liability on gains from property sales, making it a valuable tool in tax planning for property owners in Kochi. What are some ways to save on LTCG Tax when selling property in Kochi? To save on LTCG tax, you can reinvest the entire sale amount in a new residential property within a specified time frame, purchase bonds issued by certain government entities, or deposit the gains into a capital gains account scheme to be used later for property acquisition. Each method has specific rules and timelines that must be followed to qualify for the tax exemption.
Read MoreWhy Location Matters: Understanding the Value of Ready-to-Occupy Flats in Kochi
Posted on Feb 20, 2025
There are many reasons why you should invest in Kochi, and the most important may be its rise as a cosmopolitan city. Even so, when it comes to real estate, location is of critical importance. You may have seen how prices for plots, houses or flats, vary from area to area within the same city too. When it is ready to occupy flats that you are looking to purchase, it’s even more important than, say, an under-construction flat. The reason being, that the flat is ready to move in, and you can see what is available in the neighbourhood and so on. When it’s under construction, you can think that there could be changes by the time construction is complete. Why is it important to choose an ideal location to buy your home? The location must be at the top of the list of your real estate investment strategies in Kochi, as the following factors could determine what kind of life you will have there. An ideal location has these in proximity: Markets It is critical that there are markets nearby where you can get groceries, vegetables, dairy products, meat, fish, and groceries. Having to go far away every day to get essentials can be annoying and stressful. The presence of shops, supermarkets, and day markets is crucial. Basic Healthcare Clinics, small hospitals, nursing homes, medicine stores, and diagnostic labs should be reasonably close by and accessible so that in emergencies you can get care quickly. Immediate medical attention can mean the difference between life and death. Educational Facilities Play schools, kindergartens, and primary education facilities should ideally be nearby. It is not good for little children to commute long distances every day; parents will not be at ease till their child returns and it can become stressful for everyone. Entertainment and Recreation A great location also has ample opportunities for entertainment and recreation nearby. This could be in the form of shopping malls, cinema theatres, football turfs, gaming zones, play areas for young children, gardens where one can take walks or relax with friends, and so on. A couple of cafés or restaurants will also help, though not strictly necessary. Additionally, the ideal location should also be: Safe and Secure It is imperative that you choose a neighbourhood that is safe and has little to no crime, especially when you have young children and seniors at home. They should be able to move around without fear. Children should be able to play unsupervised, and seniors should be able to go for walks and so on unassisted. In fact, it is one of the most desirable qualities of a residential neighbourhood. Clean and Green Cleanliness of an area is of vital importance; make sure that the location of the ready to occupy flat is not one where garbage is dumped on the road, or where there are run down, dilapidated buildings. Such environs attract antisocial elements and eventually hamper the safety of the region. Having green spaces, with trees, plants, lawns, etc. is of vital importance when you are thinking about purchasing a flat. Check if your neighbourhood has gardens and/or parks, trees and so on. They are the lungs of an urban area; green spaces have positive impacts on mental and physical health. Connected and Have Infrastructure Easy accessibility to main roads, public transportation, railway stations, airports etc. is important in today’s age where most people travel a lot. Also, being close to the main road helps reduce daily office commute time, and to get to a hospital or other places you need to be quickly, and on time. Also Read: important to choose an ideal location to buy your home Conclusion When you live in a flat that is located in an area that offers you all these amenities, life becomes easier and more comfortable. Varma Homes, being the leading builder in Kerala, offers you some of the best 2 and 3 BHK apartments you can purchase, in the most ideal locations in Kochi. Whether you’re looking to live in a tranquil neighbourhood, or want to feel the hustle and bustle of the city, Varma Homes has you covered. All projects are RERA-approved; combined with our unmatched customer service, we promise you a fulfilling purchase experience. Step into the Home of Your Dreams with Varma Homes! Our ready to occupy flats in Kochi offer the perfect blend of comfort, luxury, and convenience. Act now to experience unparalleled living in one of the most vibrant cities. Visit us to see why our residents love calling Varma Homes their sanctuary. Don’t wait—your ideal home is ready and waiting for you. Connect with us today to claim your space in Kochi's premier living destination! FAQ’s What makes Kochi a desirable location for real estate investment? Kochi is emerging as a cosmopolitan city, making it an increasingly attractive location for real estate investments. The city's diverse amenities, including markets, healthcare facilities, educational institutions, and entertainment options, contribute to its appeal. Additionally, the presence of clean, green spaces and robust infrastructure further enhances the quality of life, making Kochi an ideal choice for both residential and investment purposes. Why is it crucial to consider the proximity of essential services when purchasing a ready-to-occupy flat? When choosing a ready-to-occupy flat, the proximity to essential services such as markets, healthcare, and educational facilities plays a critical role. Having these services nearby ensures convenience, reduces travel stress, and provides a safer and more comfortable environment for families, especially those with young children or elderly members. This proximity also adds to the property’s value, making it a smarter investment. How does the surrounding neighbourhood impact the lifestyle and safety of residents in Kochi? The neighbourhood's safety, cleanliness, and greenery significantly impact the residents' lifestyle and well-being. A safe, secure area with low crime rates is essential for families to feel comfortable and for children and seniors to move about freely. Additionally, clean neighbourhoods with parks and green spaces not only enhance the aesthetic appeal but also promote better mental and physical health, contributing to a higher quality of life for all residents.
Read MoreBest Cities for High ROI in Real Estate: Is Kochi the Next Big Investment Hub?
Posted on Feb 13, 2025
In the dynamic world of real estate investments, finding cities that offer high returns on investment (ROI) is akin to discovering hidden treasures. Kochi, a vibrant city on the southwest coast of India, has recently garnered attention as a potential goldmine for real estate investors. This blog explores why Kochi might just be the next big investment hub and how you can leverage real estate investment strategies in Kochi to maximize your returns. Why Kochi? Unveiling the Potential Kochi, often referred to as the Queen of the Arabian Sea, has seen an unprecedented transformation over the past decade. Its strategic location, coupled with robust infrastructure development, has positioned it as a key economic powerhouse in the region. The city's growth is fueled by several factors: Economic Growth: The presence of major industries such as IT, shipping, and tourism has boosted the local economy, creating numerous job opportunities and attracting a skilled workforce from across the nation. Infrastructure Development: With projects like the Kochi Metro, SmartCity, and the International Container Transshipment Terminal, Kochi’s infrastructure is on a rapid rise, enhancing its appeal to both residents and businesses. Lifestyle and Amenities: Kochi offers a unique blend of modern amenities and rich cultural heritage, making it an attractive place to live. From sprawling malls to scenic backwaters, the city caters to a variety of lifestyles. Real Estate Investment Strategies in Kochi To capitalize on Kochi's real estate potential, investors should consider the following strategies: Location Selection: Choose areas that are in proximity to IT hubs, educational institutions, and healthcare facilities. Places like Kakkanad, Edappally, and Marine Drive are popular choices among investors due to their ongoing development and accessibility. Type of Investment: Depending on your investment goals, you can opt for residential properties, which are always in demand, or commercial properties that offer higher rental yields. Understanding the purpose of your investment—whether it’s for rental income or capital appreciation—will guide your decision-making process. Market Research: Stay updated with the latest market trends and real estate policies. Understanding the historical price trends and future development plans can provide crucial insights into the potential growth of different regions within Kochi. Legal Due Diligence: Before finalizing any property investment, ensure thorough legal checks to verify land titles, approval statuses of projects, and compliance with local regulations to avoid any legal hassles in the future. Also Read: 7 Reasons Why You Should Invest in Kochi Kochi’s Investment Hotspots Identifying the right locations within Kochi can significantly impact the ROI. Here are a few hotspots: Kakkanad: Home to Infopark and SmartCity, Kakkanad is a tech hub that attracts professionals looking for residential properties close to their workplace. Marine Drive: As a scenic boulevard along the coast, Marine Drive is a sought-after location for luxury residential projects and high-end commercial establishments. Edappally: Known for its connectivity and landmarks like Lulu Mall, Edappally offers lucrative opportunities for both commercial and residential real estate investments. Also Read: Why is Kochi the Next Big Thing in Real Estate Investment? Risk Management: Ensuring a Secure Investment Investing in real estate comes with its set of risks, from fluctuating market prices to regulatory changes. Here are some risk management strategies: Diversification: Avoid putting all your eggs in one basket. Diversify your investments across different types of properties and locations within Kochi. Financial Planning: Assess your financial health and plan your investments carefully. Ensure that you have adequate funds to cover unforeseen expenses. Professional Advice: Engage with real estate experts, financial advisors, and legal consultants who can provide professional insights and help navigate the complexities of real estate investment. Conclusion With its robust growth in various sectors, strategic geographic advantages, and flourishing real estate market, Kochi stands out as a promising city for high ROI in real estate investments. By implementing effective investment strategies and keeping an eye on market dynamics, investors can tap into the vast potential that Kochi offers. Kochi's rise as an investment hub is not just a fleeting trend but a testament to its enduring appeal and sustainable growth in the real estate sector. Whether you are a seasoned investor or a newcomer to the realm of real estate, Kochi presents opportunities that are worth exploring. Explore the finest selection of flats in Kochi with Varmahomes. Whether you're looking for luxury or convenience, our properties offer both in the heart of Kochi. Don’t miss out on your chance to own a piece of this vibrant city. Visit us or contact us at [+91 484 796 2559] to schedule your viewing. Make your dream home a reality with Varmahomes Kochi! FAQ’s What makes Kochi a viable city for real estate investment? Kochi has emerged as a viable city for real estate investment due to its robust economic growth, significant infrastructure developments like the Kochi Metro and SmartCity, and a strong influx of multinational companies. These factors contribute to a rising demand for both residential and commercial properties, making it an attractive market for investors. Which areas in Kochi offer the best potential for high ROI? Areas such as Kakkanad, Marine Drive, and Edappally offer great potential for high ROI in Kochi. Kakkanad is popular due to its proximity to major IT parks, Marine Drive for its high-end commercial and residential developments, and Edappally for its connectivity and amenities like Lulu Mall which draw significant consumer and residential interest. How can investors mitigate risks when investing in Kochi’s real estate? Investors can mitigate risks by conducting thorough market research, understanding the legal and regulatory environment, diversifying their investment portfolio across different property types and locations, and seeking professional advice from real estate experts, financial advisors, and legal consultants to make informed decisions.
Read MoreHow to Improve Your Credit Score Before You Buy Flats in Kochi
Posted on Jan 28, 2025
Wanting to live in Kochi is understandable - it is the most developed and cosmopolitan city in Kerala, after all. If you’re looking for tips for buying a flat in Kochi, you have come to the right place. Buying a home is not a simple decision; owning a home is an emotional sentiment, and also necessitates a large financial investment. Therefore, it is not a decision you should make lightly. Here are the chief Things to consider while purchasing flats In Kochi What kind of flat do you want to buy Which location is ideal The builder’s reputation with regard to quality, punctuality, integrity, etc The budget - how much are you willing to spend on the flat? The last point is often the most critical one for the majority of home buyers. There are many ways in which you can arrange for funds. You can start saving from an early age and use that money, borrow from parents or other family, and apply for a housing loan. When you apply, you can list your spouse or parent under the age of 70 as a co-borrower. Remember, there are several lenders with a number of housing loan products. So when you have to select from among them, make sure to compare things like reviews from other customers (you can also ask in your circle if anyone has taken housing loans recently), interest rate, tenure, repayment options, processing fees, prepayment fines, options for repayment, and so on. It’s a good idea to have information on these points from a few lenders and make comparisons, as part of your real estate investment strategies in Kochi. It will help you make the right decision for you. However, you must remember that the terms you are offered will depend to a good extent, on your creditworthiness, expressed as a credit score. What is a Credit Score? This is a 3-digit number, ranging from 100 to 900 that indicates your creditworthiness; the higher your credit score, the better. It shows that you don’t pose a high risk to the lender. This score takes into consideration factors like how many credit cards you use, what percentage of credit limit is used, the length of your credit history, how many loans you have ongoing, and whether you have been making payments on time, etc. The prominent credit rating agencies in India are CIBIL, Equifax, and Experian. To avail of a housing loan, you need a minimum credit score of 725. You may still be able to get a loan with a lower score, but you may have to pay a higher rate of interest, and only be offered a shorter tenure, etc. If your credit score is low, you have to work on it. Tips to Increase Credit Score Timely Repayment Pay your loan instalments on time. For ECS payments, ensure that your account is sufficiently funded. When you miss or delay a payment, it adversely affects your credit score. Limit Credit Card Use Use credit cards judiciously and try to only use around 50 - 60% of the limit on your card. High credit card usage impacts your score negatively; if you have to use credit cards for big payments, try to pay it off in full so that you don’t have a large outstanding amount at the end of the billing cycle. Try to get cards with a high credit limit so that your usage percentage can stay low. Also, pay off the entire amount on or before the due date to avoid heavy interest charges and negative credit scores. Fewer Loans are Better When multiple EMIs exist against your name, credit rating agencies flag you as a risky borrower, unless you have an income that is several times more than the total of your EMIs. Pay off one loan before applying for another. Try to have as few loans as possible when you apply for housing loans. Conclusion With a high credit score, you can have your pick of housing loans. Varma Homes can connect you to the best builders and help you choose the right product, as we have built an excellent network over the past years. With our RERA-approved projects, getting good loans is now fairly simple. Embark on a journey to unparalleled luxury with Varma Homes. Our collection of Luxury Flats in Kochi offers you an exclusive lifestyle with world-class amenities and breathtaking views. Schedule a visit or request more information today to see why Varma Homes is the perfect choice for your new exquisite living space. Don’t miss the opportunity to elevate your life. Contact us now! FAQ’s What is a credit score and why is it important when buying a flat in Kochi? A credit score is a three-digit number ranging from 100 to 900 that lenders use to evaluate your creditworthiness. In Kochi, a higher credit score signifies a lower risk for lenders, making it crucial when applying for a housing loan. A good score can secure you better interest rates and more favourable loan terms, enhancing your ability to purchase your dream flat in this cosmopolitan city. How can I improve my credit score to qualify for better housing loan terms in Kochi? To improve your credit score, start by consistently paying your loan instalments and credit card bills on time. Aim to use only about 50-60% of your credit card limit and avoid having multiple loans at once. These steps show lenders that you are a responsible borrower, thereby potentially improving the loan terms offered to you in Kochi. What minimum credit score is required for housing loans in Kochi, and what if my score is lower? Most lenders in Kochi require a minimum credit score of 725 for housing loans. If your score is below this threshold, you may still obtain a loan but with higher interest rates or shorter loan terms. To improve your chances, focus on enhancing your credit score by managing existing debts responsibly and limiting new loan applications until your financial health improves.
Read MoreLegal Considerations When Buying Property in Kochi
Posted on Jan 26, 2025
Kochi, a bustling metropolis on the southwestern coast of India, is witnessing a real estate boom that is both exciting and complex. With its scenic backwaters, robust infrastructure, and booming IT and tourism sectors, Kochi has become a hotspot for real estate investments. However, diving into property investment here requires a solid understanding of the legal landscape to ensure a smooth transaction and safeguard your interests. This guide explores the critical legal considerations every prospective buyer should know when purchasing property in Kochi. Understanding Property Titles and Ownership Rights Before any money changes hands, the first step in purchasing property is verifying the title. In Kochi, as in any Indian city, clear property titles are crucial. A title deed is a legal document proving ownership rights over the property. It is imperative to ensure that the title is clear and free from any disputes or legal encumbrances. Engaging a reputable lawyer to conduct a thorough title search can prevent future legal complications, ensuring the property has no outstanding mortgages, liens, or litigation. Understanding these legalities not only safeguards your investment but also maximizes the benefits of living in Kochi, a city known for its vibrant culture and booming real estate market. The Role of Due Diligence Due diligence is an extensive examination of all the legal aspects of the property. This includes checking the approved building plans, and property tax receipts, and ensuring compliance with local regulations. Kochi's municipal requirements can be stringent, and compliance with the Urban Development Plans is mandatory. Due diligence helps ascertain that the building complies with all the zoning laws, environmental regulations, and construction codes, which is crucial to avoid future legal hassles. Sale Deed and Agreement The sale deed is a key document in the transfer of property ownership. In Kochi, the sale deed must include a comprehensive description of the property, the total sale amount, the advance payment received, and the timeline for the remaining payment. This deed must be registered at the local sub-registrar office. Before executing the sale deed, a sale agreement is drafted, which lays down the terms and conditions of the sale between the buyer and the seller. This agreement is critical as it binds both parties to the transaction and helps clarify any ambiguities in the deal. Stamp Duty and Registration Fees The legal formalities involve certain costs, including stamp duty and registration fees. In Kochi, the stamp duty is a state levy paid to register the sale deed, calculated as a percentage of the property's transaction value. Alongside stamp duty, registration fees are also payable. These statutory costs contribute to the total cost of acquiring property, and understanding their implications on your overall investment is crucial. RERA Compliance The Real Estate (Regulation and Development) Act, 2016 (RERA) brought about significant changes in the real estate sector to protect buyers' interests. Properties in Kochi falling under RERA’s purview must be registered with the Kerala Real Estate Regulatory Authority. RERA mandates transparency in project marketing and execution, which safeguards buyers’ interests and ensures developers adhere to the timelines and specifications promised. Legal Advice and Assistance Navigating the complex legal landscape of real estate in Kochi demands professional legal advice. Consulting with an experienced property lawyer can provide invaluable assistance in dealing with the intricacies of property laws in India. They can help interpret legal documents, advise on the implications of various clauses in your agreements, and ensure that your real estate investment strategies in Kochi are sound and secure. Also Read: Benefits of Investing in Flats in Kochi Conclusion Buying property in Kochi is an excellent investment decision, but it comes with its share of legal considerations. From ensuring clear property titles to understanding the implications of RERA, prospective buyers must navigate a complex legal landscape. With thorough due diligence, sound legal advice and adherence to the law, investors can look forward to reaping the benefits of their property investments in this vibrant city. Remember, the key to a successful real estate transaction lies in being well-informed and cautious. Step into a world where luxury meets comfort at Varma Homes, offering the finest luxury flats in Kochi. If you're ready to live in a home that exudes elegance and sophistication, contact us today. Visit our website to learn more about our exclusive properties or to schedule a visit. At Varma Homes, we're not just building homes; we're crafting your future. Make the decision to enhance your living experience now! FAQ’s What should I check for when verifying the title of a property in Kochi? When verifying the title of a property in Kochi, ensure the title deed is clear and free of disputes or legal encumbrances. Check for any outstanding mortgages or liens, and verify that the seller has the absolute right to sell the property. It's also essential to confirm that there are no pending legal cases or claims against the property that could affect your ownership rights. How much is the stamp duty and registration fee when buying a property in Kochi? The stamp duty and registration fee can vary depending on the property's value and type. In Kochi, stamp duty is typically around 8% of the property's market value, and the registration fee is approximately 2-3%. However, these rates can change, so it's advisable to consult the latest guidelines from the Kerala government or a legal expert in real estate transactions within the region. What are the benefits of buying a RERA-compliant property in Kochi? Buying a RERA-compliant property in Kochi ensures that you are investing in a project that adheres to all legal and regulatory norms set by the Kerala Real Estate Regulatory Authority. Benefits include transparency in project marketing and execution, timely delivery of projects, protection against fraud, and a standardized mechanism to address any grievances. Additionally, RERA compliance means that all promotional materials and project updates must provide accurate information, significantly reducing the risk for investors.
Read MoreNew Year, New Home: Why 2025 is the Perfect Year to Invest in a Varmahomes Property in Kochi
Posted on Jan 01, 2025
As we ring in the new year, many of us set personal and financial goals aiming to improve our lives. For those considering a smart investment in 2025, the real estate market in Kochi presents an exceptionally promising opportunity. Investing in a Varmahomes property this year not only aligns with current market conditions but also sets the stage for substantial future returns. Let's explore why 2025 is the perfect year to secure a new home with Varmahomes in the vibrant city of Kochi. Understanding Real Estate Investment Strategies in Kochi Kochi, often hailed as the commercial capital of Kerala, has consistently seen an upward trajectory in its real estate values, largely fueled by robust infrastructure development, a flourishing IT industry, and a growing tourism sector. The strategic landscape for "real estate investment strategies in Kochi" revolves around leveraging these economic catalysts. The city's ongoing urbanization and an expanding middle-class demographic create ripe conditions for diversified investment approaches. These elements position Kochi as a prime locale for real estate investment, offering potential for lucrative rental yields and sustained property value appreciation. Savvy investors focus on these trends to develop strategies that capitalize on both short-term cash flows and long-term capital gains. Why Varmahomes Stands Out Varmahomes has established itself as a beacon of trust and quality in the Kochi real estate landscape. Known for its commitment to excellence and customer satisfaction, Varmahomes offers properties that are not only beautifully designed but also strategically located to maximize convenience and quality of life. Each project is crafted with attention to detail, ensuring that residents enjoy both luxury and comfort. The Perfect Timing: 2025 Real Estate Predictions The timing for investing in real estate in Kochi could not be better. Economic forecasts for 2025 predict a stable and growing economy, low inflation rates, and favourable mortgage interest rates. Additionally, the government's focus on improving infrastructure, such as the expansion of the Kochi Metro and upgrades to public transport systems, will significantly enhance property values in the surrounding areas. Lifestyle Benefits of Living in Kochi Choosing a Varmahomes property in Kochi also means investing in a lifestyle. The city is renowned for its vibrant culture, diverse culinary scene, and access to world-class healthcare and educational institutions. Moreover, Kochi's coastal setting offers a serene living environment away from the hustle and bustle of metropolitan chaos, making it an ideal location for families, retirees, and young professionals alike. Also Read: Benefits of living in Kochi Long-term Financial Security Real estate is a proven stable investment, especially in a growing market like Kochi. Properties in prime locations, such as those offered by Varmahomes, typically enjoy higher appreciation rates, making them a valuable asset for long-term financial planning. Investing in a home is also a tangible safeguard against inflation, ensuring that your investment grows as market conditions improve. Tax Benefits and Incentives The Indian government offers several tax incentives for first-time homebuyers, which can be leveraged in 2025. These benefits, including deductions on home loan interest payments and principal repayments, can significantly reduce the cost of buying a home. Additionally, recent policy reforms aimed at boosting the real estate sector make this year particularly advantageous for buyers. Community and Connectivity Varmahome properties are known for their thriving community environments and excellent connectivity. Whether it's proximity to major highways, airports, or public transportation hubs, Varmahomes ensures that residents have easy access to their workplaces, schools, shopping centers, and recreational areas. This connectivity enhances the quality of daily life, making everyday logistics smoother and more efficient. Conclusion Investing in a Varmahomes property in Kochi in 2025 is more than just purchasing real estate; it's about securing a part of Kochi's growth story. As the city continues to develop and expand, property owners will find themselves at the heart of one of India's most dynamic urban transformations. With Varmahomes, you are not just buying a home but investing in a future of possibilities and a lifestyle that keeps on giving. As you set your sights on the opportunities that 2025 brings, consider making a smart move into Kochi's real estate market. With Varmahomes, you're choosing a partner committed to excellence and a property that promises to be a cornerstone of your financial future. Make this new year a starting point for a prosperous and secure tomorrow. Also Read: Smart Real Estate Investment Tips for Kochi on a Budget Looking for your dream home in Kochi? Explore the finest flats for sale in Kochi, offering modern amenities and prime locations. Contact us today to schedule a visit and find the perfect flat that suits your lifestyle.
Read MoreThe Benefits of Investing in Waterfront Properties in Kochi
Posted on Dec 07, 2024
There are several important factors to consider while investing in real estate In Kochi; the builder, type of property, budget, amenities, neighbourhood, and so on, but the most important is the location. You want an apartment in a great location - one with essential shops and good roads in proximity, schools and healthcare facilities nearby, and so on. Another consideration is the surroundings; do you want to live in a concrete jungle, or do you want tranquil, green spaces, nestled in the lap of nature? If you are the one who prefers a quiet life, then you should consider waterfront properties as part of your real estate Investments strategies in Kochi. The seas and huge rivers have always fascinated human beings, and there is an inextricable link between the two. In fact, the first human settlements were always on riverbanks, as water is the most essential thing required for survival. What are waterfront properties? Waterfront properties are those apartments or villas that face water bodies like rivers, oceans, lakes, or large ponds. They offer beautiful views of the water and related ecosystem that have a very soothing and calming effect on human minds. Why are waterfront properties so popular? The cool breeze and soothing vistas are the main reason for the popularity of these properties. Unlike land views, the views of a waterfront are permanent; trees are cut on land to make space for more buildings, but river water is not dredged for this purpose as water is a precious resource. Further, water bodies in themselves are limited, and hence, the number of waterfront properties that can be developed are also limited. Anything that is limited in supply is always in high demand. What are the advantages of investing in waterfront properties? You can be assured of excellent returns on your investment in waterfront apartments. After all, anything in high demand will fetch good returns. If you want to earn a monthly income by renting it out, you can charge a premium for a waterfront facing apartment. Similarly, you will be able to get a higher price when you try to sell it off. You can also set it up as a vacation rental or Airbnb property, and you are sure to get tenants/guests year round. Such properties are considered more luxurious and prestigious, which also adds to their value. As there is a vast body of water on one side of the building, you can be sure that nothing else will come up there, affording more privacy to the occupants of that building. 5 Benefits Of Investing In Flats In Kochi While waterfront properties can be of many types like flats, villas, bungalows, etc., flats are always the desirable option. Here are five good reasons why: Flats are compact and easier to manage compared to large homes, and ideal for the nuclear families of today. Apartments offer more security than detached homes, as they are gated properties with high walls, security guards and CCTV cameras; many also have biometric access. Modern amenities like swimming pools, play areas for kids, party halls, power backup, landscaped gardens, clubhouse, sports facilities, EV charging stations, A/V room, etc. are available Many flats promote sustainable living with rainwater harvesting, solar powered lights, composting, etc. Cleaning, garbage collection and disposal, maintenance, and other activities are centralized. Also Read: 5 Benefits of Investing in Flats in Kochi Conclusion Now that you know the reason for the popularity of waterfront properties as an investment option, you can also consider investing in one of them. Varma Homes has some of the best properties in Kochi, in the most desirable localities in the city. Check out their premium 2 and 3 BHK properties, with the latest amenities and conveniences. Varma Homes apartments comply with RERA norms, and use superior methods and materials in construction. Ready to elevate your living experience? Browse our exclusive selection of apartments for sale in Kochi at Varma Homes. Each space is crafted with care to provide unparalleled comfort and style. Connect with us now to secure your slice of paradise in Kochi! FAQ What makes waterfront properties in Kochi a unique investment? Waterfront properties in Kochi offer unique advantages such as uninterrupted views, a tranquil environment, and a scarcity that drives demand. These properties are limited in supply, making them a valuable investment likely to appreciate over time. The natural views and serene setting also make them highly desirable for living or renting out. How do waterfront properties compare to other types of properties in terms of investment return? Waterfront properties typically command higher prices and rental rates compared to inland properties due to their exclusive locations and views. This premium can lead to higher returns on investment, especially if used as vacation rentals or Airbnb properties. The exclusivity and limited availability also mean that they often retain their value better during market fluctuations. What should I consider before investing in a waterfront property in Kochi? Before investing in a waterfront property, consider factors like the quality of the water body, potential for flooding, environmental protections, and development regulations. Additionally, ensure the property has proper legal clearances and complies with local zoning and building codes to safeguard your investment.
Read MoreWhy is Kochi the Next Big Thing in Real Estate Investment?
Posted on Dec 02, 2024
Kochi is quickly becoming a hotspot for real estate investments that smart investors can't ignore. If you're looking for a promising location to invest your hard-earned money, this vibrant coastal city in Kerala might just be the perfect opportunity you've been searching for. Why Kochi Stands Out for Real Estate Investment? The city has transformed dramatically in recent years, offering incredible potential for those seeking strategic real estate investment strategies. What makes Kochi so special is its unique combination of economic growth, infrastructure development, and lifestyle appeal. Unlike other crowded metropolitan cities, Kochi provides a perfect balance of opportunity and quality of life. Real estate in Kochi isn't just about buying property – it's about investing in a future full of potential. The city has seen economic expansion, driven by multiple sectors including information technology, tourism, and maritime trade. This diverse economic foundation makes real estate investment in Kochi a stable and attractive option. Investment Opportunities That Speak Volumes When considering why real estate investment in Kochi is the best option, several factors come into play. The city offers a range of investment possibilities that cater to different budgets and preferences. From luxurious waterfront apartments to affordable residential spaces, Kochi has something for every type of investor. The property market here has been consistently strong, with property values showing steady appreciation. Many investors have seen returns ranging from 8% to 12% annually, which is significantly higher than many other markets in India. The growing job market, especially in the IT and technology sectors, continues to drive demand for residential and commercial properties. Compelling Reasons to Invest Why you should consider real estate investment in Kochi goes beyond just financial returns. The city offers a unique lifestyle that combines modern amenities with traditional Kerala charm. Infrastructure developments like the metro rail project, expanded airport connectivity, and improved roadways have significantly boosted property values and attractiveness. Areas like Kadavanthra, Thripunithara, Edappally, and Vytilla are emerging as prime investment locations. These neighbourhoods are experiencing rapid development, making them perfect for investors looking to get in early and maximize their returns. The government's investor-friendly policies and focus on sustainable urban development add an extra layer of security to your investment. A Market Ripe with Potential Kochi's real estate market is not just growing – it's evolving. The city attracts both local and national investors due to its strategic location and promising economic outlook. Young professionals, particularly those in the IT sector, are increasingly looking at Kochi as their preferred destination, which continues to drive property demand. The rental market is equally attractive. With a growing population of working professionals and students, rental properties in good locations can provide a steady income stream. This makes real estate investment strategies in Kochi particularly appealing for those looking to generate passive income. Making Your Investment Decision Before jumping in, it's crucial to do your homework. Research different areas, understand local market trends, and consult with real estate experts who know the Kochi market inside out. Each neighbourhood has its unique characteristics, and finding the right location is key to a successful investment. Kochi offers more than just a property – it offers an opportunity to be part of a dynamic, growing city with immense potential. Whether you're looking for a long-term investment, a future home, or a property to generate rental income, Kochi has something special to offer. Conclusion Real estate investment is about vision, and Kochi presents a vision of growth, opportunity, and promise. With its strategic location, growing economy, and beautiful landscape, this city is not just a place to invest – it's a place to grow. Varma Homes is one of the leading builders of Kerala, and they have a reputation for ethical values, transparency, integrity, and punctuality. All Varma Homes projects adhere to RERA norms, and government regulations. You can expect not only superior construction and world-class amenities but exemplary customer service before and after purchase. Experience a smooth buying experience with Varma Homes. Check out their premium 2 and 3 BHK flats in the top residential areas of Kochi now. Experience the perfect blend of quality, transparency, and elegance with Varma Homes. Choose from our premium 2 and 3-BHK flats in Kochi’s top residential locations like Kadavanthra, Edappally, and Vytilla. Backed by RERA compliance and ethical values, we ensure a smooth buying experience with world-class amenities and unmatched customer service. Visit Varma Homes now to explore your next investment opportunity or dream home. FAQ What makes Kochi a prime location for real estate investment?Kochi stands out due to its rapid economic growth, robust infrastructure development, and lifestyle appeal. The city's thriving IT sector, tourism, and maritime trade provide a stable foundation for investments, while projects like the metro rail and improved airport connectivity have significantly boosted property values. Which areas in Kochi are ideal for real estate investment?Prime locations like Kadavanthra, Thripunithara, Edappally, and Vytilla are experiencing rapid development and offer excellent investment potential. These areas combine modern amenities with high demand, making them lucrative choices for residential and commercial properties. Is real estate in Kochi a good option for generating rental income?Yes, Kochi’s growing population of working professionals and students has created a strong demand for rental properties. Investing in well-located apartments or houses can provide a steady income stream, making it an attractive option for passive income generation.
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