Posts

India Revival Mission: Huge inventories will drag down real estate prices is a myth, says Vikas Oberoi

Image
May, 2020
New Delhi: The ongoing coronavirus outbreak and its impact on the economy have pushed sentiment in real estate to its all-time low. Both residential and commercial real estate sectors are expected to be hit in terms of launches, sales, and prices. The sector has not only taken a hit due to the lockdown to curb the spread of virus but has been ailing for quite some time now.

Vikas Oberoi of Oberoi Realty speaking to ET Now answers questions like How can the real estate sector crawl back to life? Has the coronavirus crisis put the sector on a ventilator? Does this sector need a huge relief package?

Talking about the role of the realty sector, Oberoi said: "It's a globally known fact that spending on real estate has a multiplier effect. If you spend on real estate it goes to cement, steel, labour, contractor, multiple people. The government itself earns 28-30 per cent of our revenue growth through direct and indirect taxes."

On whether the sector needs a relief packag…

Real estate a real investment

Image
April, 2020

In India the family is the most important institution that has survived through the ages. Traditionally, Home is that important thing which is inherited and or can be passed on to future generations. It is an important part of the present that we live in and of the future that we will dwell on. A place where we are safe and secured, a place to protect our self during difficult times.

At present we are dealing with Crisis in form Covid-19, time-ahead is all the more testing; but this will pass, at some point or another. At the Metro urban areas, where individuals have transitory home choices. Because of vulnerability in work and pay, a large number of individuals are strolling towards that Heritage, that Home; what was worked by their Ancestors for Survival.

However, it has unquestionably shown us a thing or two, given us a teaching of life. We ought to have our own home, for not exclusively to endure yet to live, to cheer and assemble memories. Furthermore, pass on this Asse…

Ten questions to ask before you buy a house

Image
Questions that a potential buyer needs to answer before he takes the plunge. Don’t get us wrong. We don’t want to shatter your dreams to own a house. We just want you to take a reality check. Your answers will tell whether you are in a position to buy and if real estate is indeed the best investment option for you.

If most of them are answered in a ‘no’, take a step back and revisit your plans. You may decide to save more for a bigger down payment, buy a smaller house, invest in a cheaper city.
Can you afford the home loan EMI?
It might sound a no-brainer, but many home buyers get this wrong and bite off more than they can chew. The home loan EMI should be around 40% of your net household income. But that is if you don’t have other loans. A high EMI outgo can put your household budget under pressure.

If the home loan EMI accounts for more than 50% of the net household income, other goals will have to be downsized or junked altogether. Banks have their own methods of calculating your aff…

Trends that millennial home buyers are creating in real estate investment

Image
With India having a large and growing population of millennials, we look at how their preferences, which are distinctly different from the previous generations, will affect the real estate market
Over the last few years, the real estate market has witnessed a series of drastic changes. One such development, has been the active involvement of millennials in housing investment. Their outlook and approach towards life, is slightly different from the preceding generations and they have come up with creative ways to save for a down payment. This shift in demographics is affecting the market.
Indian real estate industry to become third-largest, globally
The real estate sector holds considerable significance in the Indian economy. It contributed about 6%-7% to the Indian economy gross domestic product (GDP) in 2017 and is expected to contribute about 13% by 2025. According to a report by KPMG, by 2030 the Indian real estate industry is expected to touch USD 1 trillion, becoming the third-larg…

Home Buying Tips: Should you buy a home early in your life?

Image
It won?t be wrong to say every person dreams of having their own home in life. However, some realise this dream early in their careers while others have to wait longer to make it come true. Home purchase is typically the biggest investment of our lifetime. To achieve this superlative goal, one needs to have financial stability and an income pool big enough to accommodate this major expense.
So, the question is, what is the best time to buy a house: early in our careers or later when our finances stabilise? Before we get to the answer to this, let?s discuss some of the common reasons why so many people want to buy a home early in their lives.
Why do people think they should buy a home at an early age?
Young people who have just started their career usually find it challenging to buy a home and thus stay in rented houses. But as their income grows, they feel they can save on the rent outgo and instead pay for their home loan EMIs. Then there are some who buy a house early in their lives…

The Fastest Way To Enhance Loan Eligibility

Image
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.
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. Please note that in case you add…

5 Must-Have Smart Home Appliances for Home Buyers

Image
In An Era Where Everything From Your Phone To Books Is A Smart Appliance, It Is Only Understandable That One Would Also Be Looking For A ‘Smart’ Home. What Exactly This Entails Is A Lengthy Narration, But Here Are A Few Appliances That We Think Could Essentially Make Your Life Much Simpler And More Comfortable.
Credit : Freepik.Com

Smart Home Appliances For Home Buyers
1) A Smart Home Security System
With The Help Of Such A Device, You Can Keep Watch Over Your House And Your Kids’ Safety All The Time. You Can Get A 100 Percent Wireless Wi-Fi Security Camera Equipped With Night Vision, To Give You Crystal-Clear High-Definition Video Around The Clock. In Most Cases, These Cameras Are The Size Of Your Fist, Are Weatherproof And Work Smoothly Even After Continuous Usage. Some Of These Home Automation Systems Use Cameras That Are Battery Operated, So You Can Set Up The Camera Wherever You Want To Without Worrying About Finding A Power Outlet Or The Hassle Of Inconvenient Power Cords. You C…