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Taking a joint home loan? Know these facts to maximize benefits

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7 Mar 2019
With The Number Of Double Income Households Rising Over The Past Years, More Couples Prefer Opting For Joint Home Loans To Realize Their Dream Of Owning A House. The Benefit Of Separate Tax Break And An Enhanced Home Loan Eligibility Primarily Drives This Decision. However, Before You Jointly Apply For A Home Loan, Make Sure You Take Into Consideration

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The Following Points For 
Maximising Benefits:
1. Eligibility Criteria For Co-Borrower:
Co-Borrower Must Be The Owner/ Co-Owner Of The Concerned Property, Even If He/ She Doesn't Have Any Source Of Income. Also, Remember That While Evaluating Your Joint Home Loan Application, The Primary As Well As Co-Applicant's Credit Score, Income, Age,Debt To Income Ratio Etc. Are Taken Into Consideration And The Loan Is Approved Only When Borrowers Are Considered Satisfactory On All Parameters.
2. Pre-Requisites Before Claiming Tax Deductions On Joint Home Loan:
# Co Borrower Should Also Be Co-Owner Of House P…

Co-borrowers: The fastest way to enhance loan eligibility

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February 2019 Only A Few People Are Eligible To Become Co-Borrowers To A Home Loan And Claim The Tax Benefits On Such A Loan, Provided Other Conditions Are Also Fulfilled

With The Prices Of Houses Rising Significantly Faster Than Salaries, It Has Become Increasingly Difficult For Individuals To Buy A House On Their Own. Consequently, Most People Now Opt For Home Loans. To Enhance The Loan Eligibility, Once Can Opt For A Loan With The Longest Available Tenure Or, Additionally, Get Someone To Join You As A Co-Borrower.

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Persons Who Are Generally Accepted As Co-Borrowers
When It Comes To Adding A Co-Borrower To A Home Loan, Lenders Give First Preference To The Borrower’s Spouse. It Is Presumed That The Income Of Both Individuals Will Be Pooled For The Purpose Of Household Expenses, Including For Paying The Home Loan EMIs. The Second Category Includes Sons, Daughters And Parents. This Is Also Considered As A Relatively Strong Relationship, From A Financial Point Of View…

Most important clauses for any rental agreement

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Rental Or Lease Agreements, Should Be Framed With The Aim Of Creating A Mutually Beneficial Relationship And Avoiding Disputes Between The Tenant And The Landlord. We Look At The Important Clauses That Such Agreements Should Cover

Vasu Srivastava, An Aspiring Law Student From East Uttar Pradesh, Who Recently Shifted To Delhi For Her Higher Studies, Moved Into A Two-Bedroom Apartment In Dwarka, With Her College Friend. However, After Two Months Of Their Stay, They Started Noticing Problems With The Plumbing And Electrical Wiring In The Apartment.

When Srivastava Raised The Issues With Her Landlord, The Landlord Simply Denied Any Help And Asked Her To Pay For The Plumbing And Wiring Repairs, From Her Own Pocket. Srivastava Had Failed To Read The Fine Print In The Agreement Which Had A Clause That Was Slightly Tweaked To Favour The Landlord.

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Important Clauses For Any Rental Agreement Dos And Don’ts While Drafting A Rental Agreement The Rent Agreement, A Document That …

Big Opportunity For NRIs To Make Money By Investing In The Indian Realty Market

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We Examine The Depreciation Of The Indian Rupee Against The US Dollar And The Present Interest Rate Cycle, To Ascertain Whether This Is A Good Time For NRIs To Put Their Money In Indian Real Estate

The Significant Fall In The Value Of The Indian Rupee In The Last Six Months, May Be A Cause For Considerable Concern, Especially For The Realty Sector In India. A Weak Rupee Against The US Dollar, Makes It Difficult For Developers In The Sector To Import Essential Construction Machinery And Increases Other Input Costs. Moreover, At Its Last Monetary Policy Meet, On October 5, 2018, The Reserve Bank Of India (RBI) Had Refrained From Hiking Key Rates But Indicated That It May Have To Take A Tough Stance Soon. So, Interest Rates Are Expected To Remain In The Upward Trajectory. However, Amidst The Negative Sentiments In The Realty Sector, Opportunities Are Cropping For Non-Resident Indian (NRI) Investors.

“A Depreciating Rupee Creates An Ideal Environment To Invest In Indian Real Estate, As T…

Is 2019 The Best Time To Buy A House?

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With Developers Looking To Offload Their Inventory And Offering Various Incentives, Can Home Buyers Expect A Good Deal In 2019? We Examine The Scenario Across Different Segments In Indian Real Estate

The Indian Real Estate Sector Has Witnessed Several Positive Developments Over The Past Few Years, With Schemes Like The Pradhan Mantri Awas Yojana (PMAY), The Granting Of Infrastructure Status To Affordable Housing, 100 Per Cent Tax Exemption On The Profits For Developers Building Affordable Homes, Implementation Of The Real Estate (Regulation And Development) Act, 2016 (RERA) And The Subsidy Schemes For First-Time Buyers Of Residential Properties. The Push Towards Infrastructure Development Also Makes It An Ideal Time To Invest In Real Estate, As The Prices In A Locality Often Increase, After The Completion Of An Infrastructure Project In Its Vicinity.

Mumbai’s Recent Development Plan, For Example, Will Enhance The Infrastructure In The City, Points Out Amit Ruparel, Managing Director,…

Year-End Trends: Technology To Be A Big Factor In Indian Real Estate In 2019

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We Examine The Various Ways In Which Technological Advancements Are Likely To Positively Benefit The Various Stakeholders In The Real Estate Sector, In The Coming Year

Various Innovative Technologies Have Made Inroads Into The Real Estate Sector In India, Right From Property Search To Construction And Signing Of Contracts. Leveraging Of These Technologies, Is Likely To Reshape The Future Of The Real Estate Industry In 2019. For A Buyer, The Changes Are Welcoming But For Property Developers And Consultants, These Changes Could Prove Disruptive And Challenging. “The Needs Of Millennial Home Owners, Are Likely To Revolve Around Intelligent Buildings With Advanced Technology. Thus, Buildings With Modern Designs Are Likely To Command A Premium In The Cost-Conscious Indian Property Market. For Developers, The Early Adoption And Investment In Technologies, Will Prove To Be The Best Defence Against Disruptions,” States Surabhi Arora, Senior Associate Director – Research, Colliers Internation…

Five Things You Must Do While Buying a House

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Buying A Home Is Perhaps One Of The Most Crucial Decisions Of One's Lifetime. Each One Of Us Wants To Ensure That No Stone Is Left Unturned When It Comes To Selecting The Best Property Or The Best Deal While Selecting The Dream Home For Our Loved Ones.

However, The Home Buying Process Has Many Aspects, And Overlooking Even One Might Not Prove To Be A Wise Choice In The Long Run. Find Below A Few Guidelines That Every Prospective Home Buyer Must Follow Before Finalizing The Deal:
Credit :Unsplash.Com Tip 1: Always Make A Future Plan
What You Must Do: Assess Your NeedsThe Story Last Month: Renuka And Ajay, An Recently Married Couple, Decided To Buy A Home In Mumbai. But Due To Lack Of Time And Knowledge They Hit A Roadblock. They Were Searching For The Right Property. Each Weekend They Meticulously Followed Upcoming Project Advertisements. But The More They Saw, The More They Got Confused.

Finally, They Decided To Ask Mitesh Shah, A Friend And A Professional Real Estate Consultant Abou…