HOME SECURITY SYSTEMS: EASY TO USE, EASY ON THE POCKET

Do you think that home security systems and apps are expensive and complicated to use? Think again. We take you through home security systems that are easy on the pocket and easy to use

Motion sensors that dial your number; lockers that send an SMS to your phone and door locks that wake up your neighbours in the dead of the night – components of new-age home security systems, these devices marry technology with innovation, to make your home as safe as safe can be.

The market for home security

“The demand for security systems in India, has grown significantly in the last few years. Currently, the market is witnessing a compound annual growth rate of around 18%,” shares Mehernosh Pithawalla, head – marketing, sales and innovation, Godrej Security Solutions.

Product options

• Inexpensive motion detectors (cost: Rs 800-1,000) that track every movement in an empty house and send real-time alerts to phone numbers of your choice.
• Biometric locks (approximately Rs 20,000), which scan your fingerprint and/or your face, to allow access to your home.
• Advanced burglar and fire alarms (Rs 15,000) that are remotely controlled and can be activated or deactivated, through a phone call or SMS.
• You can also opt for traditional wireless burglar alarms that cost just Rs 250, on your doors and windows.
• Even more basic? You could try a simple door stop alarm that prevents your door from opening and emits a loud alarm when anyone tries to enter your house. Priced at Rs 225, this one is for those who worry about leaving elderly people or young kids alone at home.
• An anti-theft padlock (Rs 500) can also be used on the door or gate, which raises an alarm if someone tries to tamper with it.
• “Video door phones that are connected to the internet are now available, so that you can speak to your visitor, even when you are not at home,” says Pithawalla. Prices start at Rs 5,000 and can go right up to Rs 40,000, depending on the brand and the features they offer.
• For valuables, try Goldilocks (Rs 5,200) – a compact locker, which includes a tamper alarm and can be linked with a laptop, so that you can set a laptop password to access the safe.

Apps to the rescue

There are plenty of services, too, and often, they cost nothing at all. “All you need, is an old smartphone or tablet with a working camera,” explains Radhesh Jhangiani, who built his own security system at his residence in Bangalore, “I downloaded the Salient Eye app on my phone. It functions as a burglar alarm and sends SMS and email alerts, as soon as it detects any activity at home. You can even get photographs, to know what exactly is going on.”

Along similar lines, is the AtHome Camera, through which you can watch a live feed via Wi-Fi or mobile networks, get alerts through the motion detector, pick a time when you would like to start/stop recording and even control the camera angle remotely.

Safety door versus burglar alarm?

“While advances in technology enable us to have more control, vis-à-vis home security, traditional methods are still here to stay. Typically, they deny intrusion, whereas, the technologically advanced systems either deter/detect or offer post-event analysis of the intrusion,” explains Pithawalla.

Before you buy

Pithawalla offers a quick checklist:

• Identify the location where the system will be installed.
• Check for prerequisites, like electricity supply, GSM network connectivity, Wi-Fi connectivity, etc.
• Choose a professional company to do the installation.

Installation

Most home security systems are a bit complex and installing them, will require the aid of your local electrician. You can also check with the electronics store or the brand you’re buying from, on whether they offer installation services. In some cases, this may even be free.

RESIDENTIAL APARTMENTS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

BRIGHTEN UP YOUR HOME

Attempt to join warm hues, surfaces and examples to make your rooms an inviting

Sitting at home, watching the Movie can be one of the most relaxing things. So it is important to liven up your home interiors, using warm colours, textures and patterns to make the rooms bright and cheerful.

Prefer pastels

Pastel pinks and apple greens are a good choice when people try to bring a pop of colour into their homes. This colour scheme is considered to be a timeless classic. Floral art work and dainty prints are perfect for creating a spring style in the home. For those looking to inject some style and personality into their bedroom, cosy bed sheets are ideal. Whether the desired look is practical or regal, traditional, elegant or urban chic, the same rule must apply - all must share that element of comfort.

Go green

Although design trends normally take their leads from the fashion world, not every trend is as fleeting. In the interior design industry, the trends tend to stay a little longer, allowing them to evolve and catch on, such as the way ‘going green,’ was one of the hottest trends a few years ago, and is now an industry standard.

Mix tones

One of the most obvious ways to use this theme is by mixing earth tones of browns, greys, and greens, with vibrant uplifting global accents of pinks, blues, oranges, yellows and purples. In addition to mixing bold accents with neutrals, by mixing and matching colours, styles and textures,it better reflects your personality.

Bold designs

Opt for bolder designs, in the form of prints that are geometric, botanical or paisley. These can be effectively used in pillows, curtains and rugs, but which also work nicely with traditional pieces. The yearning is for more warmth and comfort and more natural materials to be brought into the home.

Overlap rugs

Layered flooring and wallpapered walls are among some of the design trends that resurfaced recently, and intended to make your room feel cosier and more intimate. By overlapping several lightweight rugs with similar patterns and complimentary colours, or a bold print over an existing carpet, one can add richness and warmth to a room. Wallpaper adds visual interest as well, you will find the traditional designs patterns updated in modern colour combinations.

Animal prints

Animal prints are the great accent against neutrals and plain colour, just what you need to spice things up and take it to the wild side. The other option is mixing up the prints, texture and fabrics so you could create a more unique design.

Curtain accessoriess

Curtains are an important part of the window covering overall, but the accessories available to improve how they are used can make a big difference. Curtains can be made from a huge range of fabrics including cotton, lace, polyester, and so on. They can have a striking influence on the mood, and atmosphere of any room in your home by the usage of different curtain accessories.

Country themes

With traditional interior decorating styles such as the Moroccan and French themes, curtains serve many purposes. While their primary function is to provide much needed privacy to your home, curtain panels are also effectively used to control sunlight, energy conservation, noise reduction, and for framing a wonderful view. Curtains are also an easy way to dress up, or change the tone of any room using the right colour, fabric, length, and accessories.

Window dressing

Drapes are made from heavier, more expensive, and more durable fabrics than curtains such as silk, wool, or special synthetic fabrics. These are often teamed with sheer curtains. Shutters are ideal for privacy, and security. They are available in wood, aluminium, or vinyl.

Your curtain style and accessories should blend with what is in your room, such as the furniture of your room, floors, walls, and accessories. Blinds may be attached to the rod using hooks, rings, fabric tabs, or a rod pocket for the curtain rod to move through. Blinds are practical, and decorative for the homes. Using the wrong accessories can actually mess up their look.

Rings or tabs can also use on rods to fix curtains. Metal curtain hooks are ideal for heavy blinds, and they work well on sunny windows, as they are not breakable over time. There are different types of curtain hooks depending on your needs such as plastic hooks, nylon hooks, and decorative hooks.

RESIDENTIAL APARTMENTS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in   

ADVANTAGE OF TAKING A JOINT HOME LOAN

There are multiple benefits in terms of sharing the debt-burden and enhancing eligibility level

The home loan amount and interest rate on the loan for an individual depends on various factors like eligibility, tenure, availability of money in the market (liquidity), inflation and monetary policies. This makes it imperative for the borrower to be careful while opting for a home loan so as to ensure that the home loan does not turn out to be too expensive over the duration of the loan. In this context, the option of a joint home loan is worth considering as it will not only help the borrower in sharing his debtburden but will enhance his eligibility to get a higher loan as the income of the coborrower will be considered.

Options

Usually lending institutions give an option to take a joint home loan with as many as six coapplicants this includes his/ her spouse as well as blood relatives like parents and siblings. A joint home loan however is not usually permitted to friends, sisters or unmarried partners living together though they could be the coowner of the property. Some banks and financial institutions also allow brothers to take a joint home loan provided both of them are coowners of the property. Spouses are however exempted from the property coownership clause and the term of their loan can be a maximum of 20 years, subject to the retirement age of the older applicant. In case the loan is availed by a parent and a child the maximum term is 10 years and if the parent's income is considered for repayment, then the maximum term may be restricted to the retirement age of the parent.

Documentation

The documentation process for joint home loans is similar to that of individual home loans. Coapplicants are required to submit know-your-client (KYC) details such as identity and address proof, income proof and proof of coownership of the property.

Taxation

From an income tax perspective, the provisions for tax benefits remain the same for both individual and joint home loans. However, the total benefits avail-able in absolute terms are higher in a joint loan as compared to an individual loan. In case of a joint home loan, both or all coborrowers (provided they are coowners except in case of spouse) can claim tax deductions under Section 24(b) of the Income Tax Act against interest repaid and under Section 80C against principal amount repaid depending on their ownership share. This is besides the option to split costs of registration and stamp duty between co-borrowers to claim tax benefits under Sec-tion 80C.

An individual can avail the tax benefit on a home loan up to Rs 1.5 lakh under Section 80C and 2 lakh under Section 24(b). But if he has availed a joint home loan in the ratio of 50: 50, then both the coborrowers can claim these benefits separately. This takes the combined limit to Its 3 latch under Section 80C and 4 lakh under Section 24(b) there by reducing the overall cost of loan for the family. The total tax deduction that could be available by a married couple taking a joint home loan is Its 7 lakh, which is extremely beneficial. This is double compared to an individual home loan, although this provision may vary from person to person. It is therefore advisable to mutually work out the ownership share between the coborrowers to optimize the tax benefits. This can be in the ratio of 50:50 for claiming deductions in equal proportion or in the ratio of 60:90 where the coborrower in the higher tax bracket owns a bigger share.

Repayment

The repayment process for a joint home loan is simple and convenient. Payment can be made from a single or joint account by way of cheques or ECS. Coborrowers also have the option to share the number of EMIs between them, they could decide the number of cheques to be issued by one borrower and the balance could be made by the other. Another convenient mode is that the payment of all the instalments is made by one borrower followed by a refund of his share from the other borrower. For better loan eligibility, joint home loans are becoming a practical option for borrowers today especially when the coapplicant can contribute to the loan with their salary as well.

RESIDENTIAL APARTMENTS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in   

HOW TO USE YOUR BOOK COLLECTION AS PART OF YOUR HOME DECOR!

A house with high ceilings is the perfect opportunity to make a vertical bookshelf that goes all the way up! It can either be a recessed shelf, like in the picture, or a simple wooden bookshelf that is screwed into the wall.

Big toy wheelbarrows like this one are perfect for storing the books in a kid’s bedroom. Children’s books are usually smaller and lighter than novels, and storing them like is far more fun!

If you have a dedicated reading room, or a sacred space just for your books, stack them on the floor or on the wall with invisible metal stands.

Like to read in bed, or just before you fall asleep? Get small book stand to place nearby.’s a chair! It’s a bookcase! It’s both! A well-designed bookcase like this has the potential to store 350-400 books.

Make good use of the space in between your rooms by installing vertical book cases; which work for both storing books, as well as room dividers.Do you have a recessed cupboard or a an old fireplace that’s going unused? Clean it out, paint it, and use it as a beautiful place to store your literature.

SPACIOUS FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in   

5 MUST-HAVE SMART HOME APPLIANCES FOR HOME BUYERS

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.

Moving to a new home can sometimes be daunting. When working adults leave home for office, the kids are still learning their way around the new environment. Another instance is, if you go away on a weekend getaway or vacation, you tend to worry about your home security in the new neighbourhood. In such situations, a Smart Home Security System comes in handy.

1) A Smart Home Security System

Moving to a new home can sometimes be daunting. When working adults leave home for office, the kids are still learning their way around the new environment. Another instance is, if you go away on a weekend getaway or vacation, you tend to worry about your home security in the new neighbourhood. In such situations, a Smart Home Security System comes in handy.

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 can not only watch live streamed or recorded videos but also control this system with an app on your mobile phone from anywhere.

2) Internet-Enabled Smart Switch

A Wi-Fi enabled Switch lets you turn on or off your electronic devices from anywhere. These switches provide a wireless control for TVs and stereos, lamps and heaters, fans and coolers, all by using your existing Wi-Fi network. All you have to do is download the free WeMo App on your smartphone or tablet, plug the switch into an outlet at home and plug any device into the switch. These smart home appliances give you wireless control of your other electronic devices and gadgets.

The switch also operates over mobile internet, which means you can control home devices from anywhere in the world. The app makes it easy to set schedules for appliances and electronics in your smart home. Use your smartphone or tablet to program a fan to turn on or off at a certain time of day, at sunrise or sunset. So now you can switch on your music system to go full blast every morning to wake you up! Or you can program your AC to start cooling when it is time for you to come home from work or school.

3) Smart Cleaning Robot

Our busy lives often don’t give us enough time to do our house cleaning. When we do make time rarely, we easily get tired of dragging the heavy vacuum cleaner to all corners of the house. In such cases, a robot vacuum cleaner comes to rescue you. These home automation robot vacuum cleaners look like a sleek black disc. Using a pair of rotating extractors instead of brushes, this robotic device acts as your own house-cleaning UFO, ridding your floor of all kinds of dirt and debris. At the bottom end, there’s a discreet compartment where all the dirt collects. All you have to do is empty this when it’s full; it easily pops out and clicks back in place.

One can also schedule such robotic cleaners to clean at a specific time. Say, if you want it to vacuum every Monday, Wednesday and Friday at 3 pm, it’s just a matter of pressing a couple of buttons to schedule this. You will be amazed at the ability of this cleaner to clean along corners, around furniture legs, under the beds, rough edges and all kinds of nooks and crannies, letting you relax while it takes care of all your house cleaning chores!

4) Smart Lighting

Imagine coming home after a hard day’s work. As you sit down on your favourite armchair and switch on the lights, your favourite songs start playing in the room. These newly arrived LED Bulbs make this scenario possible. These pearl white, easy-to-install speakers make for quirky LED lamps in your room. Just plug these smart home appliances into your regular bulb holder and play music through any Bluetooth-enabled mobile phone, tablet or laptop. Both the light and speakers operate independently, so you can switch off the bulb while still playing the music or vice-versa.

There is also an infrared-connectivity-based remote for changing the sound track. So once you set your soundtrack with your smartphone initially, you can control the music directly using the remote control after that.Unlike other Bluetooth-based speakers, this doesn’t require any charging and runs on electricity. The LED bulb comes with low power consumption and features two colour modules – cool white for high brightness and light yellow for soothing mood lighting. Here’s an appliance that’s both smart and cool!

5) Wi-Fi Enabled Air Conditioner

Indian summers can be very tough! The hot and humid climate along with the harsh blazing sun sucks the energy out of people. However comfortable your new home may be, one just cannot escape the heat waves. A smart solution would be to get yourself the newly launched Wi-Fi enabled air conditioners.

Your home automation is incomplete without these Wi-Fi enabled ACs which use your home’s Wi-Fi network to connect with your phone and also works on 2G, 3G and 4G data networks. They can be controlled from anywhere through your phone, if you have a working internet connection. The AC connects to your phone like it would to a remote. The ‘away’ mode on the AC tracks your smartphone’s current GPS location and accordingly switches the AC off to conserve power if you are out of range. You can also use your phone to turn on your air conditioner before you reach home, so when you reach home tired and sweaty from school/college/work, you are greeted by a cooled room. These smart ACs are here to stay!

With even one of these devices tucked under your belt, life is sure to become immeasurably more comfortable and fun. You personalise your desktop, phone’s wallpaper, workstation desk and bedroom décor. With these smart home appliances, you have the opportunity to personalise your entire lifestyle as well!

SPACIOUS FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in  

 

SMART WAYS TO BALANCE SHADES

The Fevicol Design Ideas team outlines 5 rules to follow when decorating with colour

A little colour can do wonders to brighten and liven up a dull, drab room. However, working with colour can sometimes be an over-whelming experience. Where do you start? What are the dos and the don'ts? If you're looking to add a splash of colour to your interior decor, here are 5 rules you must follow to pull it all together.

The report further highlights that, Ahmedabad, Chennal, Hyderabad, Kolkata and Nine noted an uptick in housing sales during Q2 Fr 17, even as most other cities witnessed subdued sales. Sales in Kolkata and Hyderabad in creased by 35% and 24% respectively over the previous quarter. The study covered nine key Indian cities of Mumbai, Pune, Noida. Gurgaon, Bengaluru, Chennai, Hyderabad. Kolkata and Ahmedabad.

Rule #1: Use the 60.30-10 ratio

Every beautifully designed room is invariably divided into percentages of 6040-10. So, when decorat-ing a particular room, divide the colours into these percentages :

• 60% of a dominant colour
• 30% of a secondary colour
• 10% of an accent colour

Rule #2 : Use a colour wheel for Inspiration

Trying to decide on the right cob our scheme for a room or an entire home can be difficult. You can simplify the process by using a colour wheel and narrowing down your choices. A complementary colour scheme chooses colours that are across from each other on the colour wheel, such as red and green, blue and yellow or purple and orange.

Rooms decorated with a complementary colour scheme tend to provide a clear separation of colours and often, are more formal and visually challenging. An analogous Colour Scheme chooses colours next to each other on the colour wheel such as yellow and green, blue and violet or red and orange. Rooms using an analogous colour scheme are typically more casual, restful and muted in terms of colouration.

Rule #3: Take a cue from mother nature

Still don't understand which colours to pair together or what colour value/ shade/ tone to use to. gether and how to create soothing and harmonizing colour combinations? Try designing your interior space by replicating the colour values of the outside world. After all, interior designs are basically our attempt to imitate Mother Nature who just so happens to be a great colourist!

Rule #4: Seasonal colours

The 10% accent colour you use can be changed from time to time. It's a good way to keep colour monotony at bay too. Seasonal colour variations are a painless way to spruce up colours in your decor. Fall colours such as mustard yellows, russets and browns will create a calm and subdued space, perfect for resting. Spring colours, on the other hand, are more uplifting; pinks, lilac, and saffron yellow impart a naive, fresh look to a room. Soothing pastels for summers and bright jewel tones for winters, these colours are easily incorporated with the use of cushions, rugs, and other decor accessories.

Rule #5 : try contrast

A high contrast space appears clearer and more highly defined than a space that incorporates low contrast. An effective scheme needs opposing tones traditional blue with white, dove grey with pink or white, and mustard ac-cents with grey or offwhite, are all tried-and-tested combinations. Whites and offwhites are a good foil for many colours and essential for defining spaces and 'resting the eye while a dash of yellow or red will lilt a blue background. Combining white and black with grey is very low key and also creates a restnal space.

3 BHK FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in  

 

 

REALTY MARKETS WITNESS UPWARD TRENDS

PropTiger's Realty Decoded report 02 FY`17 reveals that residential sales in top 9 cities witnessed growth of 12% annually

The top9 cities of India witnessed launches of about 47.000 new residential units compared with 41.000 units in Q1 FY'17 to clock a quarterly growth of 14%. shows the leading online real estate advisor PropTiger's 'Realty Decoded' re-port for the July-September quarter of financial year 2016-17 (Q2 FY'17). Residential sales across top9 cities of India in Q2 FY'17 increased by 12% over Q2 FY'16, an increase in sales from 48.976 units in 02 FY'16 to 54,721 in Q2 FY'17.

The report further highlights that, Ahmedabad, Chennal, Hyderabad, Kolkata and Nine noted an uptick in housing sales during Q2 Fr 17, even as most other cities witnessed subdued sales. Sales in Kolkata and Hyderabad in• creased by 35% and 24% respectively over the previous quarter. The study covered nine key Indian cities of Mumbai, Pune, Noida. Gurgaon, Bengaluru, Chennai, Hyderabad. Kolkata and Ahmedabad.

Key contributors

According to the PropTiger studs Mumbai. Pune and Bengaluru contributed nearly SA% to the to tai absorption wIlmased In Q2 1.1"17. Mumbal contributed the most to sales, accounting for 21% or total sales during the quartet folkiwed by Pune and Beni:alum accounl for 19% and 17% re. spectively. during the Q2 fl' 17.

Policy Impact

Commenting on the report Sunil Mishra. Chief Business Officer (Primary Sales and Developer So-lutions). PropTigeccom. said: "The repo rate cut by the Reserve Bank of India (RBI). discounts and schemes offered by developers and the Real Estate (Regula-tion and Development) Act (RERA) are all expected to in-crease the confidence of customers resulting in higher sales in subsequent quarters."

Inventory levels

According to the research and analysis presented in the report. the inventory overhang remained unchanged at 35 months. indicating that demand is moving in tandem with supply. Unsold invento-ry across the top-9 cities declined barring Ahmedabad. Kolkata and Pune.

Pries proposition

The report also highlights that developers across top-9 cities of India have been reluctant to reduce residential prices and have in• stead been offering deferred and flexible payment schemes to entice buyers. Thus. overall prices across the cities remained range-bound during the quarter.

2BHK & 3BHK SPACIOUS FLATS IN THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in  

 

SMART MOVES FOR HOME BUYERS

An ET Wealth survey shows a lot of people plan to buy property in the next one year

After a hibernation lasting nearly five years, home buyers are planning to go shop ping again. More than 60% of 1,181 respondents to an online survey say they are likely to buy property in the next 12 months. The survey, was conducted after the RBI cut rates.More than 16% of the respondents say they plan to `definitely buy' real estate in the next one year (see graphic). “Many fence-sitters have realised that it makes sense to buy a home now, when prices have not risen too much,“ says Anuj Puri, Chairman & Country Head, JLL India.

The bullishness is more pronounced in cities such as Hyderabad and Pune, while buyers are not so keen in NCR and Bangalore, where high prices and huge inventory have dampened demand. However, buyers are not rushing in with eyes wide shut. They are acutely aware that in the coming years, returns from real estate may not be able to match those from other asset classes. “Over the next one year, the appreciation of real estate prices will, at best, be inflation-linked,“ says Samir Jasuja, Managing Director and CEO of realty portal PropEquity .

Returns from real estate also tend to be jerky. Therefore, investors should not go for property if their investment horizon is less than five years. Our survey shows that more than half (53%) of the respondents will buy property only for their own use, and 19% will buy it as investment. There is another 18% who will buy for both own use and investment.

Buyers are also mindful of project delays. This is why a significant majority (66%) want to buy ready-to-move-in properties, and only 22% are willing to consider under-construction flats or prelaunch offers. Even though the Real Estate Regulation Act, 2016 has been passed, not many people are aware of how it will make a difference. Barely 35% of the respondents feel that the Act will protect the interests of buyers.

Seeing the surge in buyer interest, we reached out to experts to find out what people should keep in mind when they purchase property. We list out smart moves that can help buyers get the maximum bang out of their bucks.

RENT OR BUY

In the last five years or so, the Indian financial market has become quite stringent. Therefore, it is essential to maintain a healthy CIBIL credit score. Your CIBIL credit score is generated basis the CIR created and is used for evaluating your eligibility for any kind of borrowing. A CIR is an individual's credit payment history across loan types and credit institutions over a period of time.

Younger people will find renting a better option because it gives them the freedom to relocate. As the job market becomes more competitive, a person who is tied down to a property by a mortgage may end up sacrificing emerging opportunities elsewhere. However, in some cities, property prices have not run up too much. “If the EMI is not significantly higher than the rent one is paying, the person should buy the house,“ says Rishi Mehra, Founder of Deal4loans. He points out that while rent is paid to the landlord, the EMI payment also helps create an asset for the borrower.

CONSOLIDATE YOUR FINANCES

If you have decided to buy, figure out how much you can raise for the down payment. The bigger the down payment, the smaller your EMI and the lower the stress on your monthly budget. However, in attempting to enhance the down payment, don't dip into investments meant for critical goals. You also need to assess the loan amount you are eligible for. Lenders typically keep the EMI at 30-40% of your net take-home pay . You should also obtain a credit rert. The RBI has mandated that a per port. The RBI has mandated that a person should get at least one base-level credit report free in a year. “Check your credit score so that you don't get a surprise when you apply for the loan,“ says Ranjit Punja, CEO and Co-founder of Credit Mantri. If there is something amiss in your credit history , it may take time to repair it. “If your credit history is not clear, your choices shrink,“ says Manavjeet Singh, CEO and Founder of loan aggregator portal Rubique. It is a good idea to not revolve credit card dues and keep expenses low for 10-12 months before applying for a loan.

Some people even say that one should take a pre-approved loan so that there is little paperwork to do after you find a suitable property. But Adhil Shetty, CEO and Co-founder of Bankbazaar, says pre-approved loans are valid only for 6-8 months. “If you are not able to finalise the deal within that period, you will have to apply afresh and pay the loan processing fees all over again. As a rule, banks will not extend the validity of the pre-approved loan,“ he says.

START RESEARCHING OPTIONS

Experts say bargains are everywhere, because investors are desperate to get out of real estate. “Some investors are exiting at a 0% gain while some are even willing to take a haircut,“ says Jasuja.But buyers will have to do a lot of research to find the bargains.

Don't be tempted to buy outside your city because rates are lower. In many cases, buyers who are unfamiliar with the reputation of builders in another town, get stuck in the wrong project. On the other hand, it may be a good idea to buy in the suburbs to avoid the bustle of the city yet live not too far from work.

An expert agent can help identify properties that suit your requirements.He will be able to locate properties, have a preliminary talk with the owners, and even bargain on your behalf. A fee of 1% of the value of the property is not too much to pay for these services.

GET READY FOR EMIS

You also need to zero in on the best loan provider. Loan aggregator portals act as matchmakers between lenders and borrowers. Take a loan you can comfortably service. One way to assess if you will be able to afford the EMI is by putting away an amount equal to the EMI in a recurring deposit or a short-term debt fund.This will get you into the habit of saving that amount every month.

CONSIDER COMMERCIAL REALTY

If the purpose of buying real estate is purely investment, a better alternative could be commercial properties where things are looking up. But here too, one should go for Grade A assets, not B or C.The rentals should be in line with prevailing market rates.

REAL ESTATE PROJECTS IN THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in