With the home loan rates hitting the roof and no respite in site, it seems to be a good idea to walk away from property mortgages as early as possible. After all, the northward movement in home loan rates during the last 3-4 years has already sent the monthly budgets of lots of middle class consumers for a toss, even forcing many of them to sell their properties to clear the dues.
Take the case of Delhi-based media executive Sumeet Saxena, for instance, who had bought his house a few years ago on a floating rate loan of Rs 25 lakh for a 20-year tenure. At 7 per cent interest rate, he was required to pay an EMI of Rs 19,375 which he could easily afford.
But at 12 per cent interest rate now, his EMI has already touched Rs 27,500, marking a rise of about 42 per cent. Now Saxena is worried what should he do next in case the EMI increases further, as each 0.5 per cent hike in the existing rates will increase his monthly outgo by Rs 825.
More : economictimes.indiatimes.com
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Now, if you want to buy a house but do not have the money right now, dont worry! Falling property sales in regions like Delhi and NCR have pushed many developers to offer EMI holiday schemes to boost their sales.
If you have been wanting to buy a house in Delhi or National Capital Region, but do not have the money to back your aspirations, then be dismayed no more. Now, you can walk up to your builder without a penny in your pocket, book a flat, and not pay any equated monthly installment on the home loan till
Let the slowdown in the property market not lead you to making uninformed decisions. At a time when sentiments in real estate are not exactly upbeat, it becomes all the more necessary to keep your checklist handy while buying or selling off a property. In fact, you can guard against being tricked into a wrong or illegal property purchase by keeping a few things in mind. We fill you in on some key aspects that can be of immense help while closing a deal.
Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM), says it is important that
Real estate experts in Delhi and satellite towns of Noida and Gurgaon have confirmed that property prices are sliding. So, if you want to get the best property deals, this is the time.
Though on record, the brokers in Gurgaon object to any suggestion that property is becoming cheaper.
Prices of plots have fallen. Plots that were sold for Rs 55,000-50,000 per yard one year ago can be bought now at Rs 45,000, a property broker from Gurgaon said on the condition of anonymity. These plots are believed to be in and around Sushant Lok and Gold Souk.
More : ndtvprofit.com
Real estate experts in Delhi and satellite towns of Noida and Gurgaon have confirmed that property prices are sliding. So, if you want to get the best property deals, this is the time.
Though on record, the brokers in Gurgaon object to any suggestion that property is becoming cheaper.
Prices of plots have fallen. Plots that were sold for Rs 55,000-50,000 per yard one year ago can be bought now at Rs 45,000, a property broker from Gurgaon said on the condition of anonymity. These plots are believed to be in and around Sushant Lok and Gold Souk.
More : ndtvprofit.com
Delhi will soon have "spies in the sky" to map and measure property and streamline the waste management process using the Global Positioning System (GPS).
According to Municipal Corporation of Delhi (MCD) officials, GPS is being installed mainly to streamline waste management in the city. It will also be employed to track and document property, to minimise tax evasion.
GPS is a US-funded satellite-based navigation system used to compute the situation of any object in the world in three dimensions - position, velocity and time.
"Part of the garbage collection and disposal is being privatised. The GPS will enable us monitor the
