Thane becoming one of the Investment Destination in Mumbai

Thane, one of the suburbs in Mumbai is becoming one of the investment destinations in Mumbai by offering an affordable home to the home- buyers. Due to high values in the city, most of them cannot afford to invest in residential property in Mumbai. In such case, Thane is offering an economical relief by offering low rate homes when compared to those in the main city. Thane is offering affordable homes to mid-range buyers in the area range between Rs 6,000-10,000 per sq ft. Spread over an area of 147 sq km, Thane is connected to Mumbai through important roads such as the Ghodbunder Road and the Eastern and Western Expressways. It has excellent rail connectivity through the Thane-Vashi/Nerul and Thane-Panvel local train line. It is also connected to the neighbouring suburbs through the Central Railway’s suburban railway network. The supply of projects in the vicinity covers a broad spectrum of demand, with properties ranging from 1-BHK apartments to luxurious 4-BHK units.

According to Om Ahuja, CEO-Residential Services, Jones Lang LaSalle (JLL) India, “For the mid-range home buyers, there aren’t many affordable options within city limits. Though the rates of residential property in Thane have gone up in the past year by 10-15 per cent, it is still within reach of the common man. Thane is riding a wave of residential and commercial success. A steady rise in property prices have been witnessed in the past few years. New development has been planned and existing absorbed”. He further states, “Living in Thane makes a lot of practical sense. The four railway stations within the city limits – Thane, Kalwa, Mumbra, and Diva, handle a large number of commuters who travel to work every day.”

Thane also witnessed a visible makeover with retail and commercial establishments being developed in the area. The demand for residential property is spilling over to the periphery of Thane, in areas such as Ghodbunder Road, Kolshet Road, Pokhran Road, Manpada, Majiwada, Thane east and Ghodbunder Road. The demand for residential property is increasing as large businesses and manufacturing units are being set up along the road. Thane is inching towards becoming a self-sufficient city. With infrastructure and new connectivity, prices are likely to rise in the area and this spells good news for end-users and investors alike.

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Asangaon offers Budget homes with in range of Rs 10-15 lakh

Asangaon, an upcoming residential locality situated approximately 40 km from Thane, has several under construction residential projects that offer units with sizes ranging from 300-600 sq ft. It offers 1BHK unit in the budget range of Rs 10-15 lakh. While interest from leading developers like Tata Housing in the nearby station has pushed up rates, prices in Asangaon remains affordable. The locality is largely an end user market with demand coming from buyers belonging to middle to lower middle-income group. Three factors are drawing the middle-class to this locality- affordability, pollution-free environment, and good connectivity. In response, both small and big developers have started launching projects here. However, occupancy continues to be low as majority of the projects are still under construction. Developers like Komax Infra Constructions, Laxmi Builders and Developers, Shree Krupa Developers, Om Sai Developers, and Rathi Developers and Infrastructure among others have projects in Asangaon. Moreover, the locality has recently gained a lot of attention from those employed in the Asangaon Industrial Area. Moreover, the locality has recently gained a lot of attention from those employed in the Asangaon Industrial Area. Connectivity to Mumbai and Thane is an advantage here. Asangaon is a suburban railway station on the central line on the Kasara route, and one can get direct trains from CST, Dadar and Thane. Even though it is well connected to the NH-3, internal roads in Asangaon are yet to be developed.

Overall, Asangaon offers a peaceful tranquil environment away from the concrete jungles of at an affordable price.

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Basic Tips for Deciding on Getting Home Loan

  1. Your bank balance or income or capital should be checked and if found insufficient, go for home loans.
  2. The interest rate of the loan offered by the banks is dependant on the current market price, always fluctuating and the banks have no command on this.
  3. Currently interest rate is nearly 12% of the loan taken.
  4. Fixed interest rate has its own pros and cons; it is fixed by the bank only for a certain period of time but automatically shifts to floating type till the end of tenure.
  5. Floating interest rate are beneficial or non-beneficial depending on the market prices decided by the RBI.
  6. They should pay bank charges which include the processing fee, application charges, facility fees and others differs from bank to bank.
  7. The processing fee can be made negotiable by bargaining.
  8. EMI’s can be reduced by playing around with the interest rate and the tenure for the loan taken.
  9. Prepayment charges of the loan are decided by the bank and are charged 1-2% of the outstanding loan amount.
  10. Consult an expert for the home loan enquiries in the banks in and around your area to decide a suitable bank.
  11. Invest early so that you can lead a tension free life later.
  12. Home loan is a better investment to avoid the payment of Income Tax.
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Not to Panic about Home Loans

Usually people will like to have their own dream home. But they will usually get worried thinking from where to start, what to enquire, whom to consult and on and on. So whoever is reading this can just get relaxed and plan their thoughts of buying their dream home.

So first thing one should consider is how much is there in their pocket, I mean their personal investment to the property or apartment or villa. Depending on this they can decide what they can buy. So next you will wonder from whom I can get the data required for searching a proper home. For this you will find a lot of consultants in the market. If not easily you can find them online.

There are many real estate agencies who would offer you best deals. You can contact them, share your ideas and look for the best match they would offer you. Even here you can find paid consultants and free consultants like Commonfloor who would not charge a penny for any kind of consultation related to real estate. So it now depends on whom you approach. Make sure you tell your budget.

So now you have shared your ideas with the consultants and based on it they have short listed a few apartments/homes as per your needs. They would appoint few brokers and you can go have a look. On the lookout think you like an apartment and it is a bit out of your budget. Usually people at this stage would get scared and settle for a home as per their budget, sacrificing their dream.

Well I suggest you not to worry as there are many other ways to sort out this issue. There are many banks out there which offer you best home loans. So now you will get confused which bank to approach and how to sort this. For this you can visit few banks speak to them about the reasonable offers they would offer for you. Each bank has their own interest rates, processing fee, pre-pay penalty charges which is the main concern for us now.

Based on this you can segregate the banks which offers you the best deal as per your earnings. Select the best and get a home loan from the bank by submitting the necessary documents. See how simple this is. So never panic for getting a home loan and sacrifice your dreams of getting your dream home.

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Choosing a Right Bank for Home Loan

A person trying for home loan India to help achieve his dream home project faces a lot of problems while deciding the proper bank to take their home loans. The elevating property prices have made it mandatory for people to take in home loans as their bank balance, capital or income is insufficient. So by taking the home loans, people can repay back over a period of time along with owning their dream home they had thought of. For this there are numerous banks in the country that provide best interest rates for offering home loans.

There are few banks which are offering 10% interest rates. But due to the current RBI ratings due to the fluctuation in our Indian Economy, the banks throughout the country have increased their interest rates to nearly 12%. They should also be cautious about what kind of interest rate the bank is offering whether a fixed interest rate or floating interest rate. A floating interest rate might prove helpful based on the current market rate. But only interest rates are not sufficient enough for deciding a bank.

The banks offer affordable EMI’s to help repay back the loan obtained which depends on the interest rate, tenure and the amount of the loan taken. Here this EMI can be reduced by choosing a bank which offers best interest rate and tenure of the loan repayment. Apart from EMI’s there is processing fee charged for the loan taken and it sometime happens that the bank takes the processing fee of 0.5-1% of the loan taken, but the loan would not be sanctioned. Recently even the processing fee has been increased by the banks. For reducing this fee, the buyer should bargain for lowering the processing fee and take a written statement about this from the bank.

After the processing fee, the buyer should take a look at prepayment charges. Few banks do charge prepayment charges if prepayment is done by them but if the buyer is shifting the loan amount to different lender then the banks will charge 1-2% of the outstanding loan amount. It is better to always consult a home loan consultant as they can give a review about the banks in your area and help suggest the bank you are in need of. Lastly, it is always advisable for a person to make early investments so that they can repay back their loans within short period of time and can live happily in their own home they had dreamt about.

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Rumah Bali Thane

One of the well known builders of Mumbai, Puranik Builders Private Ltd., have started a Residential project called Rumah Bali in Thane West of Mumbai. It is one of the recent on going projects of Puranik Builders.

This project is located in Ghodbunder Road, Thane West of Mumbai, and is expected to be complete by the end of Dec 2014 which is proposed to have 300 units. The landscape of this project is spacious, beautiful and suitable for residence.

This project is spread over 10 acres of land and it is expected to change the standards of present day living by providing the best of the facilities. It assures a life with peace and contentment to its buyers. The Rumah bali project has been conceptualized by the well known architect from Singapore. The designs used for the constructions are minimal, with clean straight lines, well planned layout, beautiful architecture and well laid landscape, all of which are essential for conceivable luxury living. It is a home created for present day’s buyers.

This project provides different kinds of modern facilities like luscious green garden, play area, swimming pool, 24 hours electricity backup, round the clock security, intercom, club house, gymnasium, and many more.

Rumah Bali provides 1, 2, & 3BHK apartments with the sq. ft., ranging from 696 to 1336, with affordable price.

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Telangana Agitation has made Thane people Panic

Mahagenco, the power generating wing of Maharashtra State Electricity Board (MSEB) has been facing shortage of coal supply due to the ongoing Telangana agitation in Andhra Pradesh. The agitation has become the major reason acting as the blockade for the supply of coal to the major thermal power generating stations across the State causing havoc amongst the residents for the unavailability of power supply.

Due to the shortage of power, there were unprecedented power cuts and blackouts in and around the city on Monday, as per the sources. Situations have worsened more at Mumbra-Kausa area as the Maharashtra State Electricity Distribution Company (MSEDC) announced seven-hour power cut on Monday, as they were facing a huge power shortage of 3,500 MW to 4,000 MW across the State.

Along with the deficit of coal due to the agitation other reasons like increased consumption of power by the farmers for running their hand pumps was also held responsible for the cause of load-shedding. This has already angered the residents of Kalyan and Dombivli areas of Thane city since Sunday night. None of the officials are ready to comment anything about how long the situation may persist.

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Tata Amantra First Luxurious Residential Township of Tata Housing Project in Thane

Tata Housing Development Company Limited (THDCL) is launching its first luxurious residential township called ‘Tata Amantra’. It is the tallest residential structure in Kalyan and structurally placed on Thane Kalyan road, on NH3 Highway. This exotic township is designed by renowned architectural firm called HOK of USA. The residential township is spread over 22 acres with lush greenery and the nature is at its best.

These residential complexes have multi-storey towers with approximately 2,500 apartments. It has an elevated jogging track on the 14th floor, spacious gardens with lush greenery and lots other modern amenities making it world class in its structure. Mr Brotin Banerjee, MD & CEO of THDCL has said that this location has become a fast growing landmark due to its recent developments and its close proximity to important business hubs, airports, shopping malls, hospitals, schools & colleges, entertainment areas and emerging as one of most wanted location near Mumbai.

This company is well established as it understands its consumers’ needs thoroughly and give them the best infrastructure facilities in a unique and customized way as per their needs and satisfaction. They promise to deliver a great residential environment meeting to the new lifestyle and generation trends. The MMRDA has issued the location clearance for this project and the project will abide by the guidelines according to IGBC.

Tata Amantra offers 2 & 3 BHK homes starting at a budget of approx. Rs. 40/- Lakhs to Rs. 65 lakhs with a minimum size of 927sq.ft.

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