Should You Buy Property, in A City You Don’t Live in?

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While property investments in cities other than one’s own require a lot of research and preparation, they can definitely be extremely profitable. Here’s an essential checklist you should follow, before proceeding

The tendency of most property investors in India is to focus on the cities that they actually live in. This is because they are already familiar with the locations that have highest demand and who the reliable and reputed developers are. Also, most people will have a fairly broad network of people within their city, who can advise them on potential property investments.

However, the internet has opened up the real estate playing field in India. A simple online search involving the keywords ‘buy home’ or ‘buy property’ will yield thousands of results from across the country. This trend is no longer limited to people who own computers, as smartphone penetration has made access to the internet available to a staggering number of people. Consequently, property investors now have access to information on a large number of geographies. For example, Pune is a high focus area for real estate investors from Mumbai and Bangalore, because of its amenable property prices, favorable appreciation and the fact that properties in all budget ranges are available.

Demand drivers

The primary driver for residential demand is job creation. If an identified city, town or periphery is seeing a lot of demand for homes from people who are attracted by a good job market, then, it can be a good residential property investment bet. The other important variable is affordability. Quite a few non-metros as well as peripheral areas of larger cities, currently qualify on these parameters.

However, these areas have large organized builders with a strong market reputation, as well as unknown small-time players with no verifiable track record. This brings up the second important factor for an investor to focus on – namely, which projects to invest in.

Where to invest?

Buyers should fully investigate the reliability and market standing of developers active in such a market. Although the Real Estate Regulation bill may eventually weed out all fly-by-night operators, the fact is that many unscrupulous developers have historically been active in emerging locations. Such developers may not have obtained all the necessary clearances for their projects, or even have clear ownership of their plots. They may also engage in shoddy construction and often lack the capital to complete their projects on time. Such developers often offer lower property rates, to attract demand. Investors should only patronize reputed developers who have been delivering quality projects on time, so that they can avoid unforeseen risks to their investments.

To sum up, it definitely makes sense to consider other cities for property investment, especially if one’s own city does not yield very attractive returns on investment.

Home loans Longer tenure ones are the best bet

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A longer tenure home loan gives the borrower higher home loan eligibility, along with flexibility in repayment and income tax benefits.

Until a few decades ago, Indians were generally averse to taking loans to buy or construct their homes and would use their retirement funds for the same. However, with increasing urbanization, easy availability of home loans and higher earnings of the family as a unit, this trend has changed. Now, many individuals are buying their first house even before marriage, by availing home loans.

Nevertheless, most borrowers feel that that they should opt for short tenures on their home loans, to be free from debts quickly, without realizing the implications. On the contrary, one should opt for home loans with a long tenure of up to 20 years or 30 years.

home loans

Here are some of the advantages of doing so.

Higher loan eligibility

An individual’s home loan eligibility is determined on the basis of his/her ability to repay the home loan every month, in the form of equated monthly installments (EMIs). This, in turn, is assessed on the basis of your disposable income. So, for shorter home loan tenure, all things being equal, your EMI will be higher and thus, you will be eligible for a smaller home loan amount as compared to what will be available, if you opt for a longer tenure home loan. Consequently, with a longer tenure and thus, higher eligibility, you may be able to buy a bigger or better house, than what you can with a shorter tenure home loan.

Flexibility of repayment

As there are no penalties on the prepayment of home loans under a floating rate of interest, you can prepay the entire outstanding or part of the home loan, if you want to sell the house or just be free from any debts.

If you have taken the home loan under a fixed rate of interest, from any housing finance company, you can still prepay the home loan without any penalty, as long as you are not borrowing from another institution.

Moreover, if your home loan is under a fixed rate of interest, you can still repay a certain percentage of your home loan outstanding every year, without any prepayment penalty. Thus, you can become debt-free earlier, while retaining the flexibility of making payments according to your cash flow.

Income tax benefits

Section 24b of the Income Tax Act, provides benefits on the interest payment on home loans. The effective home loan rate of interest, after taking into account the tax benefit, is better than what one can earn on any other alternative investment avenue. Moreover, as there are no alternative tax benefits that are as efficient as that on home loan interests, it is advisable to avail of this benefit for as long as you can.

Section 80C also allows for a deduction of up to Rs 1.50 lakhs, for repayment of the principal component of a home loan. Nowadays, the quantum of home loan that is needed to buy a decent property is fairly large. The principal component, in the home loan repayment, will be higher for shorter home loan tenure, as compared to a longer-duration home loan. Consequently, a significant portion of the home loan repayment will be wasted, as you would not be able to claim the deduction under Section 80C beyond the specified limit, in case you opt for shorter home loan tenure.

Family Factor: Does it influence home buying decisions or not?

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Consumer response in Indian real estate has evolved significantly in the most recent 20 years. Family impact or related variables assume a key part in the basic decision-making means for home buyers. Let’s examine how the family and societal components shape property choices and how these have developed throughout the years.

Purchasing a house is the absolute most essential use a family brings about and the way that it may happen once in their lifetime for most Indians joins significantly more significance to this groundbreaking choice.

The buy of a house is more than only a financial exchange in India. It includes a few social and passionate choices that can impact the home purchasing process. While customarily, the man of the house is in charge of giving the rooftop over his family’s head, his inclination will be decorated by his family’s financial and societal position, necessities, and additionally, desires. In the constantly developing times when most ladies are working and adding to the current pool of assets for a family, rise to weight is given to her choice too.

Homes Trimurty Builders

These are the following family factors that impact property purchases:

Family structure

One of the essential components influencing home purchasing choice is the structure of the family. The extent of the family is an essential thought for picking home. A joint family would require a free house with more space to suit every one of the general population while an atomic family can without much of a stretch manage with a 2BHK condo or a smaller house. Furthermore, a joint family will favour an area which takes into account the necessities to both the elderly and the more youthful individuals. Thus, hospitals, schools, child-friendly projects, temples, and additionally nearness to entertainment alternatives will be the key essentials for selecting a house.

Family culture

Traditional families have a tendency to lean toward the joint living set up while modern families are littler with more youthful eras spreading their wings and settle in various urban communities. Another distinction showed by Gaurav, who is the Vice President – Marketing of Dheeraj Realty, is that in customary families, men are usually the guardians and act as a more prominent part in decision making. Then again, in urban families, ladies have huge power in settling on property purchasing choices. This permits property investment choices to be affected by sexual orientation attributes.

Gender characteristics

Gaurav offers that real customer response researchers have seen that when settling on a buying choice, men tend to settle on faster choices with the lesser impact on others. Then again, ladies are more inclined to negotiations and attempt to take into account everyone’s needs which extend the procedure.

Rise of independent women

With a more noteworthy number of ladies turning out to be fiscally free and the ascent in a number of twofold salary families, the land business sector is seeing an adjustment in purchase conduct and patterns. The accessibility of more prominent discretionary cash flow has changed the property choice procedure. Ladies are assuming a much greater part in property purchasing choices, and their needs and assessments are given equivalent significance in urban families.

While area and cost are still the most critical criteria for purchasing a property, different variables, for example, access to nightlife and brand name have likewise picked up significance. Moreover, the higher wage has opened up even working class families to the possibility of land as a real estate and additionally made second homes and weekend homes famous among the masses.

Trimurty – A Benchmark for Green Projects

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Developing a sound reputation takes more than just building the infra. From the last two decades, Trimurty is working in real estate domain and having a long list of happy and satisfied customers. Today, thousands of people live and work with delight in spaces created by the company. Over the last two decades, Trimurty has given Rajasthan a large number of landmarks in the form of residential apartment complexes, bungalows and commercial buildings (office, retail & hospitality). The main focus of Trimurty projects has already been about the Greenery.

If we talk about the on-going projects, these following two projects define the meaning green.

Trimurty’s Arabella (Hello Beautiful Life)

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Refreshing, beautiful and lively. Trimurty Builders and Colonizers present their yet another eco-friendly green project. Arabella, with materials having the maximum recyclable content, it maintains the ecological equilibrium. We live only once… so why not live it beautifully! Here’s a beautiful and modern living with a classic charm and a fresh retreat.

A graceful gold-rated green residential complex consisting of 3 & 4 BHK apartments at Panipech, Bani Park awaits you to come and give your life a fresh start and de-stress yourself after the tiring day. Give your eyes a soothing delight the moment you set them upon these lovable apartments. Welcome to Trimurty’s Arabella, an enticing blend of freshness and beauty so that every time you open the door of your home, a fresh and beautiful breeze gently caresses you.

To keep your home gleaming and beautiful always, the building facade will be specifically designed to prevent direct heat in the interiors. Since we value nature and care for you, roof insulation will keep the interiors cool in summers and warm in winters to make you and your family always feel comfortable. Adequate openings on external facade will allow natural ventilation in every corner, and you will not feel the need to step out to refresh yourself. The beauty of Mother Nature isn’t that far now… the indoor spaces have views to exteriors to maintain a constant connect with nature.

Amenities at Arabella:

  • Gym & Health Club
  • Infinity Swimming Pool with Sunbathing deck
  • Rooftop Garden
  • Multipurpose Hall
  • Children’s Play Area
  • Luxuries entrance lobby with visitor lounge
  • Indoor games facility like TT, Carrom & Snooker

SPECIFICATIONS:

Living/Dining/Lounge Flooring: Imported Marble; Walls: Acrylic emulsion paint on pop punning

Kitchen Counter Flooring: Vitrified Tiles; Granite Fittings/Fixtures: Premium Modular kitchen others: Provision for gas pipeline, Treated water supply

Bedrooms Flooring: Wooden laminated flooring; Walls: Acrylic emulsion paint on pop punning

Bathrooms Counters Flooring: Ceramic tiles Imported marble/granite counter with wash basins Fittings/Fixtures: Cp fittings of Kohler/Grohe; Others: Geyser, Paper Holders, Towel rods and Towel Rings.

 

Trimurty’s Ariana (Live Lavish)

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In Ariana, Trimurty presents – for the first time – premium living option at no premium price. Good location, excellent planning & design and Trimurty’s renowned high-quality construction… Ariana is here. Live lavish.

Trimurty’s Ariana has been designed to give you a life extraordinaire. A team of leading architects, designers, and landscape planners have shaped Araiana into a perfect place for a lavish and luxurious life. Everything from your smallest need to your biggest wish has been provided for here.

  • Grand entrance lobbies
  • Glass railings
  • Professional building maintenance services
  • Central DTH connection
  • Landscape open areas with sitting places, pedestrian pathways
  • Servant & Driver facilities within the campus
  • 12ft high stilt floor for that grand look that you expect
  • Community/Party Hall
  • Water Bodies
  • 74% open spaces
  • Community terraces
  • More than 11 games play facility within the complex
  • Library & reading room

Araina is Pre-Certified Platinum Rated Green Homes Project

Living in a green building is not just a matter of pride, it’s also practically & financially a very wise decision. Its design gives exceptional convenience and comfort in day-to-day living. It also saves you on regular electricity & water expenses tremendously.

  • Better lighting & ventilation
  • Low maintenance cost
  • Healthier living
  • Lower Carbon Footprint
  • Reduced water uses
  • Better rental/resale value

Amenities at Ariana

  • Gymnasium to be operated by renowned Fitness Brand Talwalkars
  • 100 ft. wide Infinity Pool
  • 1st Pre-Certified Platinum Rated Green Home Project in Jaipur
  • Over 10000 Sq. Ft. of community & club areas
  • Dual Plumbing system
  • Italian Modular Kitchen by Stosa Cucine
  • Over 25,000 Sq. Ft. of theme based landscape green area
  • Squash Court, Tennis Court with other games & sports facilities.
  • Presenting Duplex apartments for 1st time in Jagatpura
  • Solar Water Heater

Jaipur – A Real estate Paradise

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jai

 

Jaipur famously recognized as the Pink City and one of the well known and biggest city of Rajasthan. Individuals might have incredibly preferred standpoint to contribute there in light of the fact that correspondence framework is entirely great in the city. Venture relies on upon the unique individual’s supposition and their inclination for the spots. Jaipur is a center point offering quality training and honing community for passage of different rumored organizations. Likewise, numerous therapeutic and designing schools have been begun and working easily as of late. Jaipur additionally has a portion of the best schools in the nation. Individuals have enough choices to choose their own particular decision from pink city.

To the future India, the majestic Jaipur city is valued as one of the ten uber urban communities, and it is formed on the premise of the institutional and corporate center that has been prime in the city. Jaipur estate is a heaven in the business division. Lately, it has grown up as an exceptional IT destination with various IT anticipates in the city. The capital city of Rajasthan has additionally launched a few Indian and universal MNCs setting up their branches. Sagacious tasks like Anil Ambani’s Mega City Development Plans and experience Mahindra’s 3,000 Acre SEZ are normal a sooner dispatch.

A portion of the components that characterize Jaipur as a Best venture destination:

  • Jaipur is one of the quickest growing Tier II urban areas in the nation.
  • Jaipur has various worldwide air terminals with flights to every single significant destination in India and abroad.
  • It is settled on the Golden Quadrilateral which is intended to be renewed as the National Express Way
  • Jaipur is en route of turning into a Mega City by 2025 with a populace of 10 million human’s resources including over a region of around 800 sq. km.
  • The normal speculation is an incredible $2 billion.
  • Jaipur resides at 3-4 hrs. drive from Delhi on Delhi-Mumbai Highway
  • Jaipur is the center of household and remote visitor. It is seen that just about 80% of outside visitor coming to India visits Rajasthan by means of Jaipur.
  • The city is the biggest community for the fare of shaded gemstones, sterling silver adornments, painstaking work, rugs, clothing, conventional footwear, marble and stone antiquities, designing products, and so forth.
  • It is one of the SEZ shared endeavors by Mahindra and Mahindra with RIICO on 3000 bighas of area
  • The forthcoming metro connection is an additional advantage
  • The expense of start-up is likewise very low.