"TAKE THE REAL ESTATE PLUNGE NOW"

What happens when you get the young guns of Mumbai's real estate market in one room to discuss the burning issues plaguing the sector?
In an exclusive Times Property roundtable, we tried to achieve just that.

Here are a few takeaways

The recently held CREDAI-MCHI Thane Youth Wing roundtable saw the getting-together of the young fresh blood that has taken it upon themselves to catapult this liquidity-starved sector (the third highest contributor to India's GDP), to a brighter future.

THE YOUTH OF TODAY...

The age demographic of the young buyers is in the range of 27-40 years. Their priorities have shifted from other materialistic indulgences to something more substantial such as real estate. They understand that real estate, as an asset, will only give them healthy returns in the future. After all, it's the only asset that appreciates, isn't it? They have also refrained from investing in other assets such as stocks or gold.

MANTHAN MEHTA
president, CREDAI-MCHI
Thane Youth Wing and managing director, NM Spaces

ADVANTAGE HOME-BUYER

With the triple threats of demonetisation, RERA and GST out in the open, fence-sit-ters are urged to become active home-buyers. Since there are no more big poli-cy changes that are left to be announced, it is the best time to go home-hunting. Also, the ease of doing business has come in, with the help of which it would take about two months to get the n clear-ances.

DHAIRYA SHAH 
vice-president, CREDAI-MCHI
Thane Youth Wing and director, Rosa Group

AN EMERGING BUYER SEGMENT

The youth today, is well-aware, well-read and is well-versed w.r.t its needs and preferences while buying a home. They are earning well and are seeking a more wholesome living experience and not lust four walls. Hence, we should not under-estimate the youth as a buyer segment.

DHAVAL SAVLA
joint treasurer, CREDAI-MCHI
Thane Youth Wing and sales head, SquareFeet Group

Credit : epaperbeta.timesofindia.com

A WHOLESOME LIVING...

PEOPLE TODAY ARE GOING BEYOND JUST FOUR WALLS WHEN IT COMES TO HOME-BUYING. THEY ARE LOOKING AT SOCIAL AND PHYSICAL INFRASTRUC-TURE, THE REPUTATION OF THE DEVEL-OPER AND ALSO, A GROWING TREND HAS BEEN OBSERVED IN THEIR KEEN-NESS TO LOOK FOR HOMES THAT ARE CLOSE TO THEIR PLACES OF WORK.

MPHIL MEHTA,
SECRETARY, CREDAI-MCHI
THANE YOUTH WING AND DIRECTOR, ROSA GROUP

10 CREDIBLE DEVELOPERS ONLY...

WITH THE INTRODUCTION OF REM, A LEVEL-PLAYING FIELD HAS BEEN CREATED WHEREIN FLY-BY-NIGH OPERATORS HAVE EXITED THE BUILDING LEAVING BEHIND ONLY GENUINE AND AUTHENTIC DEVELOPERS. HENCE, BUYERS COULD BE ASSURED OF A SAFE PURCHASE.

MANISH DEDHIA,
TREASURER, CREDAJ-MCHI
THANE YOUTH WING AND PARTNER, ACE GROUP

EMI V/S RENT

THE INHERENT QUALITY OF REAL ESTATE HAS ALWAYS BEEN THE SENSE OF OWNERSHIP THAT ONE DERIVES. AS AVERSE TO POPULAR BELIEF THAT RENTING IS A BETTER OPTION, OWNING A HOME ALWAYS HAS MORE ADVANTAGES, AS IT COMES WITH A LOT OF MONETARY RETURNS, A SENSE OF PRIDE AND ABOVE ALL YOU HAVE A LIFE-TIME ASSET THAT YOU CAN CALL YOUR OWN. IT IS ALWAYS ADVISABLE TO PAY EMIs AS OPPOSED TO RENT.

JAY VORA,
COMMITTEE MEMBER, CREDAI-MCHI
THANE YOUTH WING AND ARCHITECT - LIASONING, PLANNING & CO-ORDINATION, DOSTI GROUP

Check out Real estate projects in Thane by Squarefeet Group in Thane

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

Source - epaperbeta.timesofindia.com

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
Maharashtra, India

+(91)-22-25452903, 66543333

info@squarefeetgroup.in

MOST IDEAL APPROACHES TO PAY OFF YOUR HOME LOAN EARLY

Reimbursing home credit before the residency and disposing of the weight of Equated Monthly Installments (EMI) is a blessing from heaven for each property holder. We offers key tips to get ready for home advance dispossession.

Advances, regardless of whether taken for a home or whatever other reason for existing, are constantly upsetting for the borrowers. While the procurement of a benefit is justified regardless of the month to month trouble, watching your financial balance get auto-charged with the EMIs squeezes in any case. Be that as it may, dispossessing your advance can enable you to spare significant intrigue pay-outs.

Vaibhav Sankla, Managing Director, H&R Block India, shares that until a couple of years prior, banks required high prepayment charges which gone about as a noteworthy obstacle for individuals inspired by shutting their advance early. Be that as it may, the evacuation of such charges has made dispossession a lucrative thought for borrowers.

Here are a few hints that can enable you to pay off your advance early:

Begin sparing, quick!

Since shutting a home advance early requires a tremendous measure of cash to be paid in a shorter measure of time, money related specialists counsel borrowers to begin making generous cuts in their costs and spare however much as could reasonably be expected. This is particularly fundamental for those whose month to month wage is settled and they have no option wellspring of wage. Curtailing pointless extravagances can have a noteworthy effect on your investment funds toward the finish of the month. You may need to abandon films and eating out for quite a while, yet the peace that originates from being sans obligation will positively be justified, despite all the trouble.

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Make bigger installments

While it might appear to be difficult to deal with extra installments, tweaking your installment intend to make somewhat higher regularly scheduled installments merits considering. Indeed, even a little extra installment of Rs 1,000-2,000 consistently can help lessen the vital measure of your credit. As the foremost lessens, so does your advantage sum. Consequently, you will have the capacity to diminish your credit residency by no less than maybe a couple years.

Get the credit renegotiated

Renegotiating an advance, which alludes to supplanting a current credit with another advance, is most likely the least demanding approach to pay off your advance early. Reasonable just for those with sound record as a consumer, it can be a helpful apparatus to acquire a lower rate of enthusiasm with better terms. A lower enthusiasm with a similar regularly scheduled payout will imply that a bigger sum goes towards clearing the key segment

Use benefit picks up

On the off chance that you can't stand to make significant investment funds each month, fuss not! Put those reward pay outs and expense forms to great use as opposed to purchasing another TV or cooler amid Diwali. Specialists unequivocally propose utilizing any benefit pick up or extra cash in your grasp towards clearing your credit.

An expression of alert

While abandonment is a savvy choice on the off chance that you can bear the cost of it, do remember the accompanying variables before putting it all on the line

1. Have a rainy day account for spontaneous possibilities, for example, a medicinal crisis or unemployment
2. Consider other exceptional liabilities and pay off the ones having the most astounding loan fee.
3. Analyze the expense finding accessible on home credit installments and decide on dispossession of home advance just if the aggregate enthusiasm on the advance is more noteworthy than the duty conclusion accessible.

Do counsel a monetary master who can enable you to pick the choice that best suits your money related circumstance and furthermore get ready for any conceivable changes later on.

Check out Projects in Ghodbunder Road by Squarefeet Group in Thane

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
Maharashtra, India

+(91)-22-25452903, 66543333

info@squarefeetgroup.in

Money related Numbers that determine Your Home Buying Capacity

While you plan to benefit a home advance, it is imperative to comprehend certain numbers that are of most extreme noteworthiness to contract banks, we shares a clench hand of such numbers that find out your home purchasing limit as well as make a great monetary picture.

As you choose to buy a house, there are a plenty of things that need watchful examination. Ideal from the outsides to the insides of the house, all variables ought to be nearly filtered to keep away from later laments. By the by, before you go to the point of property examination, one thing that is most extreme basic to comprehend is your money related position.

Assessing your purchasing power is huge to determine the advance sum that is destined to be allowed by contract banks. Essentially, there are four money related components that loaning foundations conspicuously focus in on - FICO assessment, initial installment obligation to-pay proportion, and resources for decide a purchasers monetary foundation. Grasping how these numbers influence the odds of credit endorsement is vital for each forthcoming homebuyer.

Financial assessment

Financial assessment is a standout amongst the most fundamental ways a moneylender decides your capacity to reimburse home advance. The score ranges from 300 to 900. As indicated by Muralidhar, a money related master, 'The nearer the score to 900, the higher is one's capacity to reimburse a credit and, in this manner, better the odds of advance endorsement. In a perfect world, anything over 750 is considered as a decent FICO rating. Anything lower than 750, does not really imply that the home loan will be denied, notwithstanding, it will affect the nature of credit advertised. For example, an advance for a borrower with a FICO assessment in the vicinity of 580 and 699 accompanies a higher loan cost, which would make the home loan more costly to reimburse."

There are five variables that impact one's financial assessment, each shifting in significance: installment history (35 percent), already owed obligations (30 percent), length of the record of loan repayment of the client (15 percent), credit blend (10 percent), and new credit (10 percent). In India CIBIL, Equifax and Experian are three establishments approved by the Reserve Bank of India (RBI) to decide financial assessments.

Initial installment

The measure of money installment made amid property buy is another critical variable that decides your home loan qualification. Keep in mind, while you are jarring with the advance endorsement prepare, a higher initial installment wou Id enhance your general purchasing capacity.

Ideally, 20 percent of the aggregate sum ought to be used towards initial installment. Keep in mind the higher the measure of money installment, the lesser the future risk and more grounded is your position to consult with the loaning foundation for bring down financing cost.

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Obligation to-pay proportion (DTI)

As vital as FICO rating, obligation to-salary proportion is a budgetary computation that decides your capacity to pay the home loan sum notwithstanding other extraordinary back payments in your name. Essentially, there are two sorts of DTIs':

Front-end proportion: Also alluded to as lodging costs, front-end proportion is the rate of pay that would be utilized for lodging costs, comprehensive of month to month EMIs for other land home loans, protections, and different levy. This is figured by summing up the lodging costs and separating it by net salary (before charges). The perfect proportion suggested is 28 percent.

Back-end proportion: This incorporates your month to month obligation liabilities, for example, Mastercard charges, auto credits, understudy advances, and different costs, elite of house contribution. To compute back end proportion, month to month obligation costs are included and isolated by month to month net salary. The proportion ought not be higher than 36 percent as it represents a test to your budgetary wellbeing.

Resource proofs

A bank's greatest concern is whether the purchaser would have the capacity to reimburse the entire sum paying little heed to other monetary issues that may emerge later on. Considering the surge in the quantity of defaulters throughout the years, banks have turned out to be more mindful and sweep heaps of records up to dispensing the credit sum

Government forms, pay stubs, pay proofs, letter of work, evidence of assets, and personal ID are some essential archives required. These are not by any means the only records required however and a loan specialist may request numerous increasingly if necessary.

In general, while you get ready for a house buy, do the above budgetary estimations at your end and assess your purchasing power before moving toward a loaning foundation.

Check out Budget Properties in Mumbai by Squarefeet Group in Thane

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
Maharashtra, India

+(91)-22-25452903, 66543333

info@squarefeetgroup.in