With a mind full of uncertainties and a heart filled with a mixed bag of emotions, the decision to buy a home can be an expensive and critical affair. From getting duped by builders to getting forged by financial institutions, each step in the right direction counts for your future. Therefore, gaining sound knowledge right from choosing an appropriate location and property for yourself to applying for a home loan, you undergo a lot of documentation and perplexing legal formalities.
Cities and its urban culture attract people from rural areas, driving inverse migration at an unprecedented rate. According to the IBEF, it is estimated that 600 million people by 2036 will live in urban areas, which means the increasing population will become an urban population at a fast pace, making it imperative to make housing affordable for all. Before diving deep into the discussion, we must first understand the term "affordability.”
Floor Space Index, or Floor Area Ratio, is the most controversial and confusing term in real estate. Home buyers barely understand the meaning of the two because they are jargon to them. They tend to find differences between the two or leave them unanswered, dealing with their potential to understand, getting bombarded with no clarity, and end up consuming futile content. To ensure you consume the right information, we are here to help you out with the exact information that you need to be informed about FSI and FAR.
India, being the second most populated country in the world, is fast emerging as one of the biggest investment destinations in real estate. However, it witnessed a wide gap between the demand, availability, and affordability of people. In order to ease the financial pressure and make housing accessible and available to all, the central government and state governments came up with several housing schemes catering to different segments and groups of society. Let’s find out more about them and understand the beneficiary portfolio, goals, and achievements of the schemes.
Future-proof your home. Look for amenities that would meet your health needs, safety aspects, and social balance
Price is always a critical factor when Indians go on a house hunt, but is this the only important aspect? It’s World Senior Citizen’s Day on August 21. Ahead of that, consider this — a home is supposed to be an asset for a lifetime and should support us during all stages of life. Therefore, judging a home only by the family’s current needs is not the best approach.
Are you a first-time homebuyer and planning to apply for a home loan? Did you consider the additional cost that your property would incur? If not, read on! Stamp duty is one of the additional costs you are liable to pay on buying or transferring any property. With stamp duty, you also incur registration and other charges that may imbalance your budget and ultimately lead to chaos, burning a hole in your pocket by paying a substantial amount unprepared. Therefore, it is necessary to understand the crux of paying the stamp duty.