ROLE OF CIBIL SCORE

In order to understand a CIBIL or CIBIL TransUnion score, it is essential to know what CIBIL is. Credit Information Bureau India Limited (CIBIL) is the first credit information company founded in India. It records and maintains credit details of individuals. These include details such as payment records of loans and credit card bills received from member banks and financial institutions. This information is then used to create Credit Information Records (CIR) and credit scores. This is shared with all the banks and financial institutions for evaluation and sanctioning of different types of loans.

CIBIL score and its calculation

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.

A CIBIL credit score can be explained as a 3 digit numeric outline of your credit history. It is calculated on the basis of your complete borrowing details such as repayment record, repayment pattern, the number and type of loan accounts and outstanding debts and default instances (if any). It ranges between 300 and 900 points. A healthy or a high credit score is important to get loans effortlessly. The higher the points i.e. close to 900, higher are the chances of getting loans from a lender (bank of other financial institutions in India). A low score (close to 300) indicates defaults in the repayment pattern or other discrepancies pertaining to borrowings in the past.

However, each bank or financial institution has its own benchmark for home loan eligibility and approvals. Your CIBIL score is the first thing banks refer to when you apply for a loan or a credit card. It is one of the most important criteria to decide your eligibility for a loan or a credit card

How to improve your CIBIL score?

A low CIBIL credit score can not only weaken your chances of getting credit at a modest interest rate but can also make it extremely difficult and cumbersome to get loans sanctioned. However, if you follow the simple tips mentioned below, you might be able to maintain and improve your credit score immensely.

Make payments on time: You must be very punctual about paying off your credit card bills and other utility bills in order to maintain and further improve your CIBIL score. If you have any outstanding bills, ensure that they are fully paid off, in time. Use methods such as online payments or automatic deduction from your account to avoid missing on any payments.

Do not take too much credit: It is a common notion that having multiple credit cards is an easy way to get credit. However, what home buyers fail to realize is that owning multiple credit cards sends out a signal that you are desperate for credit and this might reduce your chances of getting credit or a home loan when you actually need it.

Use your credit card wisely: It is essential to use your credit cards wisely. Do not exceed your card limit. In fact, try and use only up to 75 per cent of the limit. This indicates calculated spending, which is a positive point from a lender’s perspective.

Avoid applying for too many loans: When you apply or enquire about loans with banks, an enquiry from the bank is sent to CIBIL. The higher the number of such enquires with CIBIL, the more pressure it puts on your credit score.

Keep a check on your credit report: You must get a copy of your credit report periodically to ensure that all details are correct. In case you find any mistakes that might hamper your credit score, you must immediately report it to CIBIL. You can get your credit report on the CIBIL website.

Have a right mix of secured and un-secured loans: Secured loans such as home loans, which are taken for creating additional assets, have a positive impact on your CIBIL credit score. On the other hand, un-secured loans such as car and personal loans may adversely impact your CIBIL score.

SPACIOUS FLATS IN WAGHBIL, 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  

MUMBAI METRO NETWORK ON AN EXPRESSION SPREE

Maharashtra authorities are intent on expanding the Mass Rapid Transit System (MRTS) network across Mumbai, Thane as well as Kalyan. Acting towards that goal, Mumbai Metropolitan Region Development Authority (MMRDA) has approved the Thane-Bhiwandi-Kalyan Metro line 5 and Lokhandwala-Jogeshwari-Vikhroli-Kanjurmarg Metro line 6.

The Mumbai Metro line 5 linking Thane, Bhiwandi, and Kalyan will be 24 km long with 17 stations while the Metro line 6, the Lokhandwala-jogeshwari-Vikhroli-Kanjurmarg corridor, will be 14.5 km long with 13 stations. Metro line 6 is an important East-West corridor which will decongest SV road, Link road, and JVLR. Both lines 5 and 6 will aid in taking the burden off the suburban railway networks.

These projects will need the State Cabinets approval before tenders for the same can be invited. Chief Minister Devendra Fadnavis announced that with the approval of these two new Mumbai Metro corridors, the Maharashtra government has cleared about 170 km of Metro network in Mumbai in two years. He asserted that all the projects will commence by 2018 and are expected to be completed within four years of launch.

Fadnavis further shared that the Detailed Project Report (DPR) for connecting Dahisar with Mira road via a Metro line will soon be prepared. The Mira road-Virar stretch has witnessed immense growth in population due to affordably priced housing options. However, this has caused overcrowding in trains that ply this area which hikes the occurrence of accidents.

SPACIOUS FLATS IN WAGHBIL, 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 EASY WAYS TO UPDATE A ROOM

You don’t have to hire a decorator (or break the bank) to give a room a quick update with lots of impact. So whether you’re getting ready to sell, have just moved in or feel like a mini overhaul, these five tips will have you enjoying the room of your dreams in no time.

Change Your Fabrics

Replace your curtains, re-cover your throw pillows, buy a new rug, Any one of these easy fixes can make a big impact; but all three will completely change the entire room! And if it’s a bedroom you’re tired of, same rules apply: Replace the duvet cover, re-cover the headboard, and toss a few new pillows on the bed.

Freshen Up With Paint

Whether you tackle an entire room, or maybe an accent wall or two, a new coat of paint is probably the easiest way to change a room. From light and bright to dark and dramatic, paint can completely alter the mood.

Re-Organize A Bookshelf

Bookshelves are amazing; not only do they keep your books organized, but they can also serve as great focal pieces. Try colour-coding your books or arranging them in stacks instead of side-by-side. Remove an entire row of books and replace them with framed family photos or bright accent pieces. Sometimes all a room needs is a shift in thinking about it.

Update Your Art

Updating the art on your walls is a great way to showcase the family talent. Frame your daughter’s sketches from high school (no one will know it’s not a real Picasso) or your son’s first finger painting. Or grab a blank canvas and paint it a bright colour to hang in the kitchen (you don’t have to be a Fine Art grad to add some basic pops of colour!). And the best part of this approach is once you’ve bought the frames, the art can be rotated throughout the year at no extra cost.

Add An Accent

Is your bathroom feeling boring or your living room giving you the yawns? Pick bright, colourful wallpaper and add an accent wall! Paint stripes in your dining room, or buy a chandelier for your front hallway. Adding an impressive accent is a fun way to give the room some personality without a complete overhaul (of the room OR your bank account).

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 A RETIRED CLERK BOUGHT A 3BHK FLAT

Every house has a story to tell. Every buyer is an integral part of that story. Vinod Gupta recently retired from one of the biggest airlines company of India after 35 years of stellar service. On retiring, he received Rs 8 lakh as a part of his gratuity and provident fund. Though a native of Delhi, he used the money to purchase a house outside the city.

“I lived in an ancestral property in Old Delhi. I have five brothers who live in other cities and rarely used to visit me. I naturally didn’t have a sole right on the property. Being the youngest, I decided to divide the property and use my share of money to invest elsewhere. I was also tired of living in a congested city in a locality which has more commercial feel rather than residential one. Most of our neighbours have moved out of the locality to the city’s NCR nodes. Better lifestyle was the prime reason behind the move. I remained here, as I couldn’t afford one.”

A few years ago, Gupta married off his daughter. The lump sum money received on retiring and the money which he along with his brothers received by selling the ancestral home was used to invest elsewhere.

The ancestral property was sold off for Rs 4 crore. Out of which he got his 50 per cent share as he was the one paying property taxes and justified his part to be a major one as he also got the property vacated from tenants through legal process, which cost him over 6 lakh including lawyers’ fees, etc.

The major task was to search for a new home and in a city where his medical and spiritual needs were met. He wanted to stay close to his daughter settled in Mumbai and in a locality where he could contribute in community building activities.

Other than this, he looked for a project which had a gated community along with recreational area. Since the couple was aging, a property on ground floor was their priority. The ground floor in their chosen society gave them a small kitchen garden which was a bonus as the couple is interested in gardening.

When it comes to neighbourhood, availability of restaurants and proximity to shopping mall was also on his list. “Today we are fit and able to travel to other places but as the years go by we will need to have everyday amenities close by. Also, I have always been a movie buff but never got the chance to enjoy it. Now when I am retired, I would like to indulge.” says Gupta.

“I was confused about the entire property search process. I didn’t trust brokers and wasn’t tech savvy. My daughter suggested me online research. She showed me Magicbricks’ advice section. ‘Find what your money can buy’ section on advice.magicbricks.com was really helpful. I actually almost shortlisted my property through Magicbricks’ only,” shares Gupta.

Gupta chose Nashik as it was close to Pune, Mumbai and Shirdi, one of the famous religious towns of India. He finally bought a ready-to-move-in 3BHK flat for Rs 50 lakh, excluding stamp duty, registry charges, PLC and other extra charges which isn’t included in base price. This made him save over a crore rupees. Nashik is a small city where monthly expenditure is lesser than Delhi and where even commuting was expensive. This way I bought #MyFirstHome at the age of 70.

“Since relocation management would prove tough from Delhi to Nashik, I chose to buy a fully furnished flat and sell off the old furniture to generate extra cash. The amount collected from selling off old furniture nearly covered the extra expenditure of a furnished flat.” says Gupta.

This is one of the million stories related to property purchase floating in the real estate market. If you have bought a house and have a story to share, then do tell. We are listening!

3BHK 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 

SPV TO BE SOON SET FOR THANE SMART CITY PROJECT

A Special Purpose Vehicle (SPV) will be set up soon by the government to facilitate Thane become a Smart City, Thane Municipal Commissioner Sanjeev Jaiswal said.

Thane was in the list of cities released last month by Urban Development Ministry in New Delhi, to be developed as Smart Cities.

"Initial preparations for the Smart City project is almost over and the next step towards its implementation is the creation of SPV. Work on the project is on the fast track," Jaiswal told on sidelines of a cleanliness drive held here October 5.

Thane has proposed a Rs 6,630 crore plan under Smart City and AMRUT missions. Of this, the civic body has funded Rs 4,375 crore.

"The implementation of the mission at the city level will be done through the SPV. It will plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the project," he said.

According to Jaiswal, each smart city will have a SPV which will be headed by a full time CEO and have nominees of Central government, state government and urban local bodies (ULB) on its board.

BUY REAL ESTATE PROPERTY 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 

DECORATE YOUR DINING TABLE

It is worth going the extra mile in order to put a smile on the faces of family and guests as you all sit to enjoy a meal together

As soon as the monsoon showers hit our shores there is a massive instinctive increase in the consumption of hot pakoras and extra double boiled tea. Comforting, reassuring and our indulgence that sets the tone for the rainy season. It’s not all about the snuggly times curled up on your sofa and being casual.

While it is nice to enjoy the rain from a clean and dry home we still entertain and invite our friends and family to battle through the wet for formal and informal get together events. So how do we make it worth the battle? And up the glamour quotient at home, making it interesting and fun for your guests? Go the extra mile to put a smile on their face as you all sit to enjoy a meal together.

You can do this easily by setting your table in interesting and unique ways. Here are some tips to decorate your table this monsoon.

Think green

Take your inspiration from the rich tones of the leaves and flowers that have been washed by the rains.

The beautiful moss that gently creeps up on the walls as the months go by. Use leaves on your table setting or in the print of the crockery or place a simple leaf on the side plate.

Use scents

Base your table setting around a strong scent. Eucalyptus springs and rosemary are very easy to find and adds a great warm comforting note to a space. Fruits with a strong aroma such as lemons or simple coffee beans in small votives can be dotted around your table.

Prints and patterns

If you have plain minimalistic crockery sets, you can add prints and patterns with different accessories. Table mats, napkins, votive candles can be great elements. You can stick a single print with variations in repeat and size, or go wild and play with kitsch by layering different patterns that go harmoniously together.

Lights

Lots of candles, preferably scented candles and fairy lights always do the trick. For an instant high impact ambiance set your table with lots of candles. You will tick a few boxes with this tip, you have scent, colour and drama all in one. Reduce the overhead light and play with table lights, fairy lights and candles.

Table linen

With an endless variety to choose from things can get confusing. Pick a single element which could be print, a colour or a texture and then build your table setting around that element. A floral printed table cloth can be paired with a simple monotone napkin and a textured napkin ring. The crockery and flatware can be simple with coloured water glasses to echo the print of the table linen.

Accessories

Multipurpose bowls and platters, jars and jugs can add a sense of playfulness to your monsoon table setting. Be clever in how to reinvent these. For example, you could use a champagne chiller for flowers, a charger plate can be used to serve snacks and margarita glasses can be your dessert bowls.

BUY REAL ESTATE PROPERTY 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 

MAHA CABINET GIVES GO-AHEAD FOR TWO METRO LINES

The Maharashtra Cabinet today approved two lines -- D N Nagar-Bandra-Mankhurd and Wadala-Ghatkopar-Thane-Kasarvadavli in the Mumbai Metro corridor worth Rs 25,535 crore.

The Cabinet chaired by Maharashtra Chief Minister Devendra Fadnavis also approved Detailed Project Report of the Mumbai Metro 2B corridor of D N Nagar-Bandra-Mankhurd (23.5 km) and Metro 4 corridor -- Wadala-Mulund-Thane-Kasarvadavli, which is 32.32 km long.

While the Metro 2B corridor will cost Rs 10,986 crore, the other corridor will cost Rs 14,549 crore.

Principal Secretary of Urban Development Department said the project is to be completed within next three years.

"At present it is not decided to whether to adopt the segment wise construction module as in the case of the Dahisar-Andheri metro line or not. Mumbai Metropolitan Region Development Authority (MMRDA) will do the civil work while the state and Center will share 50 per cent of the loan component and Asian Development Bank and World Bank will provide the rest of the loan component," he said.

The Metro 2B corridor will have 22 stations on the route.

The route traverses through D N Nagar, Nanavati Hospital, Khira Nagar, National College, MMRDA, Kurla Terminal, Eastern Express Highway, Diamond Garden, Chembur and Mankhurd.

There will be interchange available at - D N Nagar (Metro Line 1), Bandra Suburban, ITO junction (Metro Line 3), Kurla East (Suburban and Metro Line 4), Chembur (Mono Rail) and Mankhurd (Suburban, CST-Panvel fast corridor, Mumbai and Navi Mumbai Airport fast corridor).

The metro car depot will be located at Mandala near Navi Mumbai.The Metro 4 corridor will have 32 stations.

The route traverses through Wadala Depot, Bhakti Park Metro, Amar Mahal junction, Shreyas Cinema, Godrej company, Vikhroli Metro, Bhandup Mahapalika, Mulund Naka, Teen Haath Naka (Thane), Cadbury Junction, Majiwada, Kapurbawdi, Manpada, Tikuji-ni-wadi and Kasarvadavali with a car depot at Owale.

The route will have interchanges at Wadala (Monorail), Kurla Eastern Express Highway (Metro Line 2B) and Kapurbawdi (Metro Line 5).Besides this, there are three Metro corridors in Mumbai with a total investment of Rs 61,289 crore.

These include - 18.5 Km, Rs 6,410 crore Dahisar to D N Nagar Metro 2A corridor, the Colaba-Bandra-SEEPZ Metro 3 corridor is 33.5 Km and costs Rs 23,136 crore and the 16.5 Km Dahisar East to Andheri East Metro 7 corridor costs Rs 6,208 crore.

BUY LUXURY FLAT 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