Archive for January 2017

Top 5 tools which will make property purchase easier in 2017

Freedom from monthly EMI payments, dealing with unscrupulous agents and developers seem to be the main reasons behind the stance.

Top 5 tools which will make property purchase easier in 2017By: Namrata Ekka, Magicbricks Bureau

It is not very often that one meets people who are happy to stay in a rental house. Abhishek Singh, an independent technology evangelist is one of the very few who argues about residing in a property on lease. Freedom from monthly EMI payments, dealing with unscrupulous agents and developers seem to be the main reasons behind the stance.

“I have no intention of being caught in the web of delayed possession, bank processes, ownership issues, etc. I have heard stories of my friends and acquaintances who had a difficult time dealing with such atrocities,” says Singh. “My parent’s house is in Rohtak and being the only child I treat that as an asset for the future. Till then, I am happy staying as a tenant,” says he.

There are many like Singh, who do not mind forgoing a property purchase for the reasons cited and many others. However, the real estate market has undergone changes and today, the means and methods of purchase are very different and advanced.

Handy online tools for property purchase
• Rates and Trends: Do not get baffled by different property prices quoted by agents. You can not only check the current market prices of housing units but also compare it with previous quarters. You can also compare data for as many as 10 localities in a city, for up to 3 different timeframes. This detailed comparison lets you see the highest and lowest locality prices, apart from the average price. These price trends can be viewed in the form of tables or graphs from the locality’s Sale and Rent perspective.

• EMI Calculator: Worried about finances? Keep them at bay with the modern tools which allows you to check your eligibility for home loans, your monthly EMI amount, should you prepay your home loan, calculate any changes in the rate of interest, etc.

Top 5 tools which will make property purchase easier in 2017 - Home Loan Calculators

These tools find you instant results about affordability. They have the intelligence to calculate the amount you might save as interest or if you wish to prepay the loan amount. Check Magicbricks portal and try out the online calculators present.

• Smart Search: Now you can check where you should buy a property for either self-use or investment purpose. You would require to feed in your average price sq ft as per your budget and the tool will lead to a wealth of information. The details of the result will reflect the social fabric of the locality – schools, hospitals, markets, etc.; the commute options presently available in the locality; the distance calculator from important landmarks such as airports, railway stations, etc.

Top 5 tools which will make property purchase easier in 2017 - Propworth Calculators

• Propworth Calculator: Estimate the value of any property, anytime, anywhere! Buyers, sellers & agents can compute the current market price of any home/property using this calculator.

• Investment Insights: For those who have some time to read information before investing, get access to easy data on the investment options in terms of property types, the consumer demand and availability of properties in the area, other localities in the city which can feature in your shortlisted destination list, etc.

In this ‘instant’ age, why should you curb your life decisions because of unsuitability? There are other answers too, related to property buying problems. The sector is constantly undergoing changes. If tools are not your preferred modes to find a solution, then you also have the option of bringing your query to real estate consultants and experts. Online conversations are frequent in Magicbricks or you could even drop your query on Magicbricks Forum.

2017 is the year to make a real estate investment. Buyers looking for affordable – mid segment properties should shortlist and invest. With the sector under government scrutiny, consumers will be able to enjoy a hassle free experience.

Top 5 tools which will make property purchase easier in 2017

DISCLAIMER
The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Bank of Baroda reduces lending rates by up to 75 bps

The new rates would be effective from January 7 and will be applicable to all new and renewed borrowal accounts, the bank said in a statement here on Thursday.

Bank of Baroda reduces lending rates by up to 75 bpsMUMBAI: State-run Bank of Baroda on Thursday said it has reduced it marginal cost of funds based lending rate (MCLR) by up to 75 basis points across various tenors.

The new rates would be effective from January 7 and will be applicable to all new and renewed borrowal accounts, the bank said in a statement here on Thursday.

The overnight MCLR has been reduced to 8.10 per cent from 8.80 per cent.

One month MCLR has been set at 8.15 per cent while 3 month MCLR has been reduced to 8.20 per cent from 8.95 per cent earlier.

One year MCLR has been reduced by 70 basis points to 8.35 per cent from existing 9.05 per cent.

Three year MCLR has been revised to 8.50 per cent from 9.05 per cent.

Flush with higher deposits, banks have been reducing their MCLRs.

Country’s largest lender State Bank of India has reduced its MCLR by 90 basis points or 0.9 per cent across various maturities.

Following SBI, many banks like HDFC Bank, Canara Bank, Union Bank, Kotak Mahindra Bank, among others have reduced their lending rates.

Housing finance companies HDFC, Indiabulls Finance have also cut their home loan rates.

Bank of Baroda reduces lending rates by up to 75 bps

DISCLAIMER
The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Gurgaon’s Reliable Realtech gets 3 days to submit plan as 1,000 home buyers face 5-year delay

The developer was asked to submit a tower-wise plan with timeline, and also a timeline for completion of facilities like parking, common area, power connection, etc.

Gurgaons Reliable Realtech gets 3 days to submit plan as 1000 home buyers face 5-year delayGURGAON: Huda and DTCP officials on Thursday inspected the beleaguered Antriksh Heights project of Reliable Realtech in Sector 84, and gave the developer until Monday to submit a detailed plan with timeline for completion of the project, which was launched in 2008 and was scheduled to be completed in 2011.

The plight of buyers of flats in Antriksh Heights was highlighted in TOI in July 2016. Later, the Allottee Grievance Redressal Forum (AGRF) took up the issue in its December 2016 meeting, and directed Huda and DTCP to visit the site and resolve it. Thursday’s inspection was in pursuance of AGRF’s direction.

The developer was asked to submit a tower-wise plan with timeline, and also a timeline for completion of facilities like parking, common area, power connection, etc. “We’ll submit our proposal with timeline by Monday,” said a representative of Reliable Realtech.

Buyers are hoping the developer will follow Huda’s direction. “The government should intervene if the developer fails to comply with its direction,” said Alok Mishra, general manager at a telecom company. He had booked a flat in Antriksh Heights in 2008, but after having completed over 90% of the payment, is still waiting to get possession.

“Buyers are suffering from financial stress due to EMIs and house rent. Repeatedly, the developer has given false verbal promises, after collecting 90% of the money,” said another buyer Dr Vineet Gupta.

There are around 1,000 buyers who had booked flats in the 13 towers of the project, spread over 23.10 acres. A DTCP official said a licence was given to one company in 2008 to develop the group housing society, but the two partners, Jai Bhagwan Garg and Rajbir Singh Goyat, divided it and began developing towers separately. “This is in violation of licence norms,” said the DTCP official.

Assistant town planner (ATP) R S Batth said, “The developer was asked to submit a written commitment and roadmap for completing the project, and to produce an affidavit showing funds collected from buyers have not been diverted to other projects.”

Gurgaons Reliable Realtech gets 3 days to submit plan as 1000 home buyers face 5-year delay

DISCLAIMER
The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

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