Monday 18 October 2021

Housing.com Ties up with MyGate to Expand base, Property Listings

 The partnership would enable users of MyGate's newly-launched property platform, MyGate Homes, to simultaneously list their properties on Housing.com


Realty portal Housing.com, which is owned by REA India, on Tuesday said it has announced a tie-up with community management app MyGate to facilitate larger reach for their customers.

The partnership would enable users of MyGate's newly-launched property platform, MyGate Homes, to simultaneously list their properties on Housing.com.

It would also Housing.com to expand customer base.

"With an existing base of close to 3 million homes in the 25,000 gated communities on MyGate, this tie-up is well positioned to benefit consumers of both MyGate and Housing.com," according to the statement.

The partnership with Bengaluru-based MyGate is one of the many strategic tie-ups Housing.com, has announced in the past one year to expand its services portfolio and consumer base.

Commenting on the partnership, Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com, said: “Our partnership with the largest community app in the country would be highly beneficial for both the platforms."

This initiative is in line with its strategy to strengthen our full stack rental offerings on Housing Edge, he said.

"While buyers and tenants on Housing.com will have more options to select from, given the large number of listings that could potentially come on our platform through this strategic partnership, it will enable MyGate users to seamlessly use our platform to list their properties to get access to millions of potential buyers and tenants," Agarwala said.

Shreyans Daga, CTO and co-founder of MyGate, said its users can benefit from the reach of Housing.com in just a click, bringing up a larger number of eyeballs to their listing and opening up an additional pool of potential buyers/tenants.

MyGate Homes was recently opened to all of the app's users, after a successful pilot in Bengaluru that attracted over 10,000 property listings.

It is expected to breach 25,000 monthly listings by year-end.

No environment clearance needed for construction on 20,000-50,000 sq metre area: Environment Ministry’s notification

The centre’s draft environment impact assessment (EIA) notification lays down rules and process for granting permissions for proposed developments and industrial projects.

The Ministry of Environment, Forest and Climate Change (MoEFCC) released the new draft Environmental Impact Assessment Notification, 2020, on March 23, 2020. This draft EIA notification replaced the earlier EIA notification 2006. The draft was released at a time when the country was going for a nationwide lockdown following the outbreak of the COVID-19 pandemic.

The new iteration of the environmental law outlines the procedure and requirements for infrastructural and industrial projects related to prior environmental clearance (EC). The draft was initially made available for public comments for two months and later extended up to August 11, 2020.

In 2019, the centre, in its modified notification on the environment impact assessment (EIA), had said that construction in areas between 20,000 and 50,000 sq metres would not require environment clearance from the government anymore. The notification, issued by the Ministry of Environment, stated that it had decided to ‘re-engineer’ the EIA rules, based on amendments and the experience over the years in its implementation. “As the principal notification has undergone substantial changes over the years, the ministry has decided to re-engineer the entire notification, in line with the amendments issued and circulars issued from time to time and experience gained over the years in implementation of the EIA notification,” it said.

Under the new notification, the process of clearances granted for sand mining and construction activities was eased out, a decision that did not go down well with environmental activists, who claimed that the EIA notification compromised on public hearings. The draft allows district-level authorities, headed by the district magistrate, to seek exemption from public hearing, while granting green clearance for sand mining in areas up to five hectares of land.

Lawyer and environmentalist Vikrant Tongad said that through the notification, the government was trying to give benefit to builders and mining companies, which in turn, was weakening the EIA. “Under the modified EIA, building and construction in areas between 20,000 sq metres and 50,000 sq metres do not require environmental clearance, which has been taking place all this while. In the sand mining sector, no public hearing will now take place for mining in an area of 0-5 hectares. It is a wrong move and public hearing must take place,” Tongad said. He said, the government was ‘trying to give benefit to builders, mining companies and industries, by weakening the EIA notification of 2006, which would increase pollution and corruption in India’.

EIA is a process of evaluating the likely environmental impact of a proposed project or development, taking into account inter-related socio-economic, cultural and human-health impacts, both beneficial and adverse.

Sharing his view, Centre for Science and Environment (CSE) deputy director general Chandra Bhushan, said this draft has weakened the existing EIA. “My first impression is that this draft, if it is converted into the final law, will weaken the environment assessment. EIA needs substantial strengthening. Public participation part has been weakened,” he said.

Bhushan said that the entire process has become meaningless and will not help in bringing down corruption. “This notification does not set up right institution for compliance of the conditions under which clearance is given. The entire process becomes meaningless. Corruption remains a major issue. The draft is a status quo draft,” he said. The activists were also of the view that this new notification would violate court and National Green Tribunal orders, by which several amendments included in the EIA draft have been quashed already. “The kind of changes which are being brought in, is a violation of court/NGT orders,” Tongad said. No comment was available from the Environment Ministry.

(With inputs from PTI)


What is environmental impact assessment notification?


An environmental impact assessment (EIA) notification is issued under Section 3 of the Environment Protection Act, 1986. It aims to impose restrictions on the development of new projects or activities or the expansion or modernisation of existing projects. The section specifies that such measures should benefit the environment.


What is EIA draft notification 2020?


Some of the key proposals in the EIA draft notification 2020:


* Reduced time for public consultation and hearings: The draft proposes to reduce the notice period for public hearings from 30 days to 20 days and the completion of public hearings from 45 days to 40 days.

* Exemption of projects: By classifying projects into A, B1 and B2 categories, several projects have been exempted from scrutiny.

* Post-clearance compliance: After a project gets approval from the authority concerned, the proponent projects are required to adhere to certain rules laid down in the EIA report.

* Post-facto clearance: The draft allows a project that has been operating without environmental clearance, to be regularised or apply for post-facto clearance.

* No public reporting for non-compliance: The EIA notification 2020 excludes reporting of violations and non-compliance by the public.

* Rules on project modernisation or expansion: Building construction projects of built-up area up to 1,50,000 sq metres have been exempted. Environment clearance may be granted for the projects after scrutiny by a state-level expert appraisal committee. Earlier, construction projects up to 20,000 sq metres were exempted.


EIA notification 2020 latest news


EIA notification to be in regional languages: Centre to Madras HC

The central government has informed the Madras High Court that it has decided to release the Draft Environmental Impact Assessment (EIA) Notification 2020 in regional languages, including Tamil. It will publish the draft EIA 2020 in all the 22 languages in the Eighth Schedule of the Constitution. 

Housing sales up 92% in July-Sep across eight top cities: Report

 "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.


NEW DELHI: Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold.

"The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.

Addressing a video conference, Knight Frank India Chairman and Managing Director Shishir Baijal attributed "stable housing prices, historically low-interest rates on home loans and changing attitude of customers towards homeownership" for the sharp recovery in housing sales.

Rajani Sinha, Chief Economist, and National Director- Research, Knight Frank India said, "Stamp duty cuts were a significant intervention applied by several state governments to spark a sharp recovery in sales volumes. These measures have convinced the fence-sitters to make the home buying decision."

With the upcoming festive season, Baijal said the market is gearing up for new project launches and consumers are likely to reciprocate.

"While financial stress remains a significant factor for developers across markets, homebuyers' preference for grade A developers and their access to cheaper credit has positioned them well in this recovering market," he added.

Baijal said the market seems to have factored in the very low likelihood of a complete lockdown as was seen last year due to the ample availability of the COVID vaccine.

According to the latest data for Q3, 2021, housing sales in Mumbai more than doubled to 15,942 units during the July-September period from 7,635 units in the same quarter last year.

The delhi-NCR market witnessed 48 per cent growth in sales to 9,101 units from 6,147 units.

Housing sales in Bengaluru jumped over two-fold to 11,337 units from 4912 units, while demand in Pune grew by 94 per cent to 9,565 units from 4,918 units.

Chennai saw a 17 per cent rise in sales to 3,610 units from 3,085 units.

The sales of residential properties in Hyderabad were up more than three times to 5,987 units from 1,609 units, while Kolkata saw a 75 per cent increase in demand to 6,861 units from 3,921 units.

Housing sales in Ahmedabad went up by 37 per cent to 1,607 units in July-September 2021 from 1,176 units in the corresponding period of the previous year.

Knight Frank India, in its report, also mentioned that the share of sales in the ticket size Rs 50 lakh to Rs 1 crore grew to 35 per cent in Q3, 2021 compared to 32 per cent a year ago. This can be attributed to the homebuyers' need to upgrade to larger living spaces with better amenities.

The share of home sales in the under Rs 50 lakh ticket size category dropped to 43 per cent in Q3 2021 from 45 per cent a year ago, as the income disruptions caused by the pandemic were more keenly felt by the lower-income demographic, it added.

Weighted average prices across markets remained stable in Q3 2021 and did not decline compared to the preceding quarter. The Chennai, Hyderabad, and Kolkata markets saw prices increase marginally on a Year-on-Year basis during the quarter.

Maharashtra collects Rs 7,507 crore in revenue from property registrations in Q2 FY22 ImageOctober 2021

 The registration of properties across Maharashtra in the second quarter of the ongoing financial year has outpaced the number of registrations in the corresponding quarter in the pre-pandemic 2019-20 fiscal.


PUNE: The registration of properties across Maharashtra in the second quarter of the ongoing financial year has outpaced the number of registrations in the corresponding quarter in the pre-pandemic 2019-20 fiscal.

As per data available with the state registration department, Rs7,507 crore was collected in revenue during the July-September quarter, slightly higher than the Rs7,112 crore earned during the same period in 2019.

Registrations are the largest source of revenue for the state exchequer.

The state’s inspector-general of registration and stamps, Shravan Hardikar, told TOI that high-value registrations during the second quarter primarily helped boost revenue. “We registered many government projects, mortgages and even land transactions of a higher value,” Hardikar said, adding, “Smaller transactions such as gift deeds and leave and license agreements have seen a decrease.”

Officials said they were expecting increased registrations and revenue this month too, with the impending rollout of the e-registration facility — software that would allow developers register properties right from their offices.

Senior government officials, however, pointed out that there were no sops this year, such as reduction in stamp duty that was announced last year, to boost revenue and registrations. Despite this, with the festive season around the corner, developers said they were expecting an increase in registrations.

State Credai president Sunil Furde said there was a positive sentiment among developers and buyers, which has buoyed the market. “Aided by lessons from last year, realtors are managing to cope better in the aftermath of the second wave, with relatively less stringent restrictions. The aggressive vaccination strategy in the state too has helped,” Furde said.

He said they had sought sops — on the lines of the stamp duty reduction this year too and were awaiting a positive response from the government.

A recent survey by real estate consultant Anarock stated that, catalysed by the second wave, home buyers were increasingly looking to purchase properties in the range of Rs 90 lakh to Rs 2.5 crore, rather than in the affordable segment. While 35% favoured properties priced between Rs45 lakh and Rs90 lakh, 27% preferred affordable housing. In the previous quarter, nearly 36% had been in favour of budget homes, the report stated.

Rollout of software for e-registration next week

The state registration department will roll out software next week that would allow developers to register properties right from their offices. The software is being tested right now with the help of 350 developers, most of them from Pune and Mumbai. Hardikar on Saturday said operators and developers will be trained in using the software, which is aimed at streamlining the entire process.

“From the coming week, the process can commence. This will enable more developers to come forward and also reduce footfalls at the registration offices,” Hardikar further added.

Pune Credai president Anil Pharande said the software will ease the entire process of registration

Environment ministry approves Mumbai's coastal zone management plan

 The decision is also expected to make way for the redevelopment of a large number of eligible housing societies and slums, as these areas can now get a floor-space index (FSI) or permissible development equal to that for the rest of the city.


he Union environment, forest and climate change ministry has approved the Coastal Zone Management Plan (CZMP) for Mumbai and its suburbs, a move that will boost real estate development in the country’s commercial capital and adjoining areas.

The decision is also expected to pave the way for the redevelopment of a large number of eligible housing societies and slums, as these areas can now get a floor-space index (FSI) or permissible development equal to that for the rest of the city.

“Mumbai and its suburban areas face the challenge of a large number of old, dilapidated buildings and existing slum dwellings. The redevelopment of these has posed a challenge, as a result of the existing norms,” said Niranjan Hiranandani, national vice chairman, NAREDCO.

He said the final notification of CZMP for Mumbai will indicate the quantum of land parcels that can be opened up for real estate and construction activities in the city and adjoining areas.

The order, once issued by the National Coastal Zone Management Authority, will allow rehabilitation and redevelopment work in these areas and real estate projects in the region will get a boost.

The authority decided that the CZMP will include the eco-sensitive zones (ESZ), if any, and revise the CZMP accordingly, if needed. It also decided that the activities and projects prohibited in the notified ESZ falling within approved CZMP, if any, shall remain prohibited in that area.

A clarification on the Flamingo Sanctuary will be issued within a fortnight. This, along with the CZMP, is expected to enable commencement of government schemes, once the announcement is notified.

These announcements are likely to bring to a conclusion both of these issues, and enable development of locations within Mumbai and its suburban areas.

Realty developers have urged the Maharashtra and central governments to take effective steps to issue the final notification of the eco-sensitive zone around the Thane Creek Flamingo Sanctuary to enable continuity of existing construction activity in Mumbai, Thane, MIDC, Navi Mumbai and Raigad.

The central government in its earlier guidelines for the declaration of eco-sensitive zones around 662 protected flora and fauna zones had fixed 10 km as the general norm for determining such zones. Some state governments had objected to this as the formula covered several urban habitations situated close to national parks and sanctuaries.

Home registrations in Mumbai region up 35% in September 2021: Knight Frank

Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.


NEW DELHI: Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019.

"Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.

The registration data is till 9 am morning.

The consultant highlighted that 94 per cent of property registrations in September 2021 pertain to fresh sales. The share of houses in the Rs 1 crore and above segment has increased to 49 per cent in September 2021, compared to 30 per cent in April 2021 and 40 per cent in June 2021.

Knight Frank said that the government revenue collection increased by a strong 186 per cent YoY in September 2021.

"Higher stamp duty rate and increased sales volume played a role in this robust revenue collection. Higher than the 2019 monthly pre-pandemic average revenue collection rate of Rs 454 crore, the revenue collection stood 14 per cent higher at Rs 516 crore in September 2021," it said.

Shishir Baijal, chairman and managing director of Knight Frank India, said buyers remained active despite the roll-back of the stamp duty incentive.

"Improved pandemic scenario and conducive factors of multi-year low property price and multi-decade-low home loan interest rate have also played an instrumental role," he said.

With the upcoming festival season, Baijal said the market is gearing up for new project launches to benefit from this improved demand conditions.

"Given the prevalence of conducive demand drivers, sales momentum going forward is expected to remain strong," he added.

In Mumbai's primary housing market, Macrotech Developers (Lodha group), Godrej Properties, Oberoi Realty, Hiranandani group, Kalpataru Ltd, Tata Housing, Shapoorji Pallonji, Piramal Realty, Mahindra Lifespace Developers, Rustomjee group and K Raheja group are major players.

Avoid These Mistakes When Selling Your Home

Selling your home can be surprisingly time-consuming and emotionally challenging, especially if you’ve never done it before. At times it may feel like an invasion of privacy because strangers will come into your home, open your closets and cabinets, and poke around. They will criticize a place that has probably become more than just four walls and a roof to you, and, to top it all off, they will offer you less money than you think your home is worth.


With no experience and a complex, emotional transaction on your hands, it’s easy for first-time home sellers to make lots of mistakes. However, with a little know-how you can avoid many of these pitfalls. Read on to find out how to sell your house while getting the highest possible price within a reasonable time frame without losing your mind.


Key Takeaways


  • Keep your emotions in check and stay focused on the business aspect of selling your home.

  • Hiring an agent may cost more in commission, but it can take a lot of the guesswork out of selling.

  • If you decide to sell on your own, set a reasonable sale price and keep the time of year in mind.

  • Prepare for the sale, don’t skimp on the visuals in your listing, and disclose any issues with the property.

Getting Emotional


It’s easy to get emotional about selling your home, especially your first one. You spent a great deal of time and effort to find the right one, saved up for your down payment and furniture, and created many memories. People generally have trouble keeping their emotions in check when it comes time to say goodbye.

Think it’s impossible? It’s not. Once you decide to sell your home, start thinking of yourself as a businessperson and salesperson rather than just the homeowner. In fact, forget altogether that you’re the homeowner. By looking at the transaction from a purely financial perspective, you’ll distance yourself from the emotional aspects of selling the property.

Also, try to remember how you felt when you were shopping for that home. Most buyers will also be in an emotional state. If you can remember that you are selling a piece of property as well as an image and a lifestyle, you’ll be more likely to put in the extra effort of staging and doing some minor remodeling to get top dollar for your home. These changes in appearance will not only help the sales price; they’ll also help you create emotional distance because your home will look less familiar.


To Hire or Not to Hire an Agent


Although real estate agents command a hefty commission—usually 5% to 6% of the sale price of your home—it’s probably not a great idea to try to sell your home on your own, especially if you haven’t done it before.It can be tempting, especially if you’ve seen all those “for sale by owner” signs on people’s front lawns or on the internet. So does it pay to hire an agent?

A good agent generally has your best interests at heart. They will help you set a fair and competitive selling price for your home, increasing your odds of a quick sale. An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating tire kickers who only want to look at your property but have no intention of making an offer.

Your agent will also have more experience negotiating home sales, helping you get more money than you could on your own. And if any problems crop up during the process—and they commonly do—an experienced professional will be there to handle them for you. Finally, agents are familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly. This means there won’t be any delays or glitches in the deal.

After reading all this, should you really hire an agent? Only you can decide.


What to Do If You Don’t Use a Real Estate Agent


So you’ve decided not to hire an agent. That’s fine, because it’s not like it can’t be done. There are people who sell their own homes successfully. Remember, though, you’ll need to do your research first—on recently sold properties in your area and properties currently on the market—to determine an attractive selling price. Keep in mind that most home prices have an agent’s commission factored in, so you may have to discount your price as a result.

You’ll be responsible for your own marketing, so make sure to get your home on the multiple listing service (MLS) in your geographic area to reach the widest number of buyers. As you have no agent, you’ll be the one showing the house and negotiating the sale with the buyer’s agent, which can be time-consuming, stressful, and emotional for some people.

Since you’re forgoing an agent, consider hiring a real estate attorney to help you with the finer points of the transaction and the escrow process. Even with attorney’s fees, selling a home yourself can save you thousands. If the buyer has an agent, however, they’ll expect to be compensated. This cost is typically covered by the seller, so you’ll still need to pay 1% to 3% of the home’s sale price to the buyer’s agent.


Setting an Unrealistic Price


Whether you’re working with an agent or going it alone, setting the right asking price is key. Remember the comparative market analysis you or your agent did when you bought your home to determine a fair offering price? Buyers will do this for your home, too, so as a seller you should be one step ahead of them.

Important : You may think your home is worth more, but remember to set a realistic price based on comparable homes in the area. Absent a housing bubble, overpriced homes generally don’t sell. In a survey conducted by the informational home sale website HomeLight.com, 70% of real estate agents said that overpricing is the number one mistake that sellers make. Don’t worry too much about setting a price that’s on the low side, because in theory this will generate multiple offers and bid the price up to the home’s actual market value. In fact, underpricing your home can be a strategy to generate extra interest in your listing, and you can always refuse an offer that’s too low.


Expecting the Asking Price


Any smart buyer will negotiate, and if you want to complete the sale, you may have to play ball. Most people want to list their homes at a price that will attract buyers while still leaving some breathing room for negotiations—the opposite of the underpricing strategy described above. This may work, allowing the buyer to feel like they are getting good value while allowing you to get the amount of money you need from the sale.

Of course, whether you end up with more or less than your asking price will likely depend not just on your pricing strategy but also on whether you’re in a buyer’s market or a seller’s market and how well you have staged and modernized your home.


Selling During Winter Months


Believe it or not, there really is a right time to sell during the year. Winter, especially around the holidays, is typically a slow time of year for home sales. People are busy with social engagements, and the cold weather across much of the country makes it more appealing just to stay home. Because fewer buyers are likely to be looking, it may take longer to sell your home, and you may not get as much money. However, you can take some consolation in knowing that while there may not be as many active buyers, there also won’t be as many competing sellers, which can sometimes work to your advantage.

You may be better off waiting. Barring any mitigating circumstances that may force you to sell during the winter or holidays, consider listing when the weather begins to warm up. People are usually ready and willing to purchase a home when it’s warmer.


Skimping on Listing Photos


As so many buyers look for homes online these days, and so many of those homes have photos, you’ll be doing yourself a real disservice if you don’t have any visuals of your home. At the same time, there are so many poor photos of homes for sale that if you do a good job, it will set your listing apart and help generate extra interest.

Good photos should be crisp and clear and taken during the day when there is plenty of natural light available. They should showcase your home’s best assets. Consider using a wide-angle lens if possible—this allows you to give potential buyers a better idea of what entire rooms look like. Ideally, hire a professional real estate photographer to get top quality results instead of just letting your agent take snapshots on a phone.

And don’t just stop at photos. Consider adding a video tour or 360-degree view to further enhance your listing. This can be easily done with any smartphone. You can certainly entice more potential buyers into walking through your doors for showings. You may even get more offers if you give them an introductory walk-through of your property.


Not Carrying Proper Insurance


Your lender may have required you to acquire a homeowners insurance policy. If not, you’ll want to make sure you’re insured in case a viewer has an accident on the premises and tries to sue you for damages. You also want to make sure there are no obvious hazards at the property or that you take steps to mitigate them (keeping the children of potential buyers away from your pool and getting your dog out of the house during showings, for example).


Hiding Major Problems


Think you can get away with hiding major problems with your property? Any problem will be uncovered during the buyer’s inspection. You have three options to deal with any issues. Either fix the problem ahead of time, price the property below market value to account for it, or list the property at a normal price and offer the buyer a credit to fix the problem.

Remember: If you don’t fix the problem in advance, you may eliminate a fair number of buyers who want a turnkey home. Having your home inspected before listing is a good idea if you want to avoid costly surprises once the home is under contract. Further, many states have disclosure rules. Some require sellers to disclose known problems about their homes if buyers ask directly, while others decree that sellers must voluntarily disclose certain issues.


Not Preparing for the Sale


Sellers who do not clean and stage their homes throw money down the drain. Don’t worry if you can’t afford to hire a professional. There are many things you can do on your own. Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues, such as a broken doorknob or dripping faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed either. Have a friend or an agent, someone with a fresh pair of eyes, point out areas of your home that need work. Because of your familiarity with the home, you may be immune to its trouble spots. Decluttering, cleaning thoroughly, putting a fresh coat of paint on the walls, and getting rid of any odors will also help you make a good impression on buyers.


Not Accommodating Buyers


If someone wants to view your house, you need to accommodate them, even if it inconveniences you. And yes, you have to clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.


Selling to Unqualified Buyers


It’s more than reasonable to expect a buyer to bring a pre-approval letter from a mortgage lender or proof of funds(POF) for cash purchases to show that they have the money to buy the home. Signing a contract with a buyer may be contingent on the sale of their own property, which may put you in a serious bind if you need to close by a particular date.


The Bottom Line


Learning how to sell a house is crucial. Make sure you prepare mentally and financially for less-than-ideal scenarios, even if you don’t make any of these mistakes. The house may sit on the market for far longer than you expect, especially in a declining market. If you can’t find a buyer in time, you may end up trying to pay two mortgages, having to rent your home out until you can find a buyer, or, in dire situations, in foreclosure. However, if you avoid the costly mistakes listed here, you’ll be a long way toward putting your best foot forward and achieving that seamless, lucrative sale for which every home seller hopes.

Sunday 17 October 2021

Investing in Real Estate in Mumbai? Here’s Why You Should Consider Thane

 Courtesy Of A Number Of Commercial And Residential Infrastructure Projects, Thane Has Become A Top Realty Spot In Mumbai. The City Of Lakes Offers You The Opportunity To Side-Step The Congestion And Traffic Faced By Mumbai Residents And Has Excellent Amenities, Educational And Healthcare Services, Employment Avenues, And Connectivity On Offer.


Property Appreciation Trends, The Presence Of Well-Known Builders, And Benefits To Middle-Class Buyers Through The Interim Budget 2019 Are Some Of The Reasons Why You Should Consider Thane When You Are Looking To Buy A Property In Mumbai.



Take A Look At Each Of These Factors More Closely For A Better Understanding.


Property Appreciation And Price Trends


Thane Has Witnessed Rapid Infrastructural Development In The Recent Past. The Advantage Of Buying A Property In This Developing Area Is That You Get Lower Rates And Can See The Value Of Your Property Appreciating Quickly.

If You’re Looking At Buying Property As An Investment, Generous Appreciation Will Mean Higher Returns In A Shorter Span Of Time.


Presence Of Reputed Real Estate Developers


Buying A Property From A Real Estate Developer With A Proven Track Record Ensures That Quality Of Building Materials Used Is High, There Is Proper Maintenance Of Common Spaces, World-Class Amenities Are Available, And An Enhanced Life Experience On The Whole.

Owning A Property At Such A Project Can Also Go A Long Way In Securing Good Rental Income Should You Want To Let It Out. Fortunately, Reputed Real Estate Developers Have Set Up Shop Here, Which Means You Have Plenty Of Credible Options To Choose From.


Growing Locations Like Ghodbunder Road


Another Reason Why Thane Is A Top Real Estate Locality In Mumbai Is That You Can Choose From A Wide Range Of Sub-Localities. So, While Areas Like Thane West Can Be Expensive, Locations Like Ghodbunder Road Will Help You Buy A Property In Mumbai At A Cheaper Price.

What’s More, According To Recent Data, Price Trends For Apartments At Ghodbunder Road Are Moving Upwards At A 33% Rate, 13% Higher Than The Average Price In Thane West.


Benefits Of Interim Budget 2019


Investing In Property In Thane Now Is Ideal Because Of The Newly-Announced Tax Exemptions For Homebuyers. The Interim Budget Presented By The Ruling Party Has Made Way For Nil Notional Rent Tax On A Secondary Self-Occupied Tax, TDS Threshold Increase To Rs.2.4 Lakh, And Capital Gains Rollover Of Up To Rs.2 Crore. Additionally, Taxable Incomes Up To Rs.5 Lakh Enjoy Greater Rebates By Way Of Section 87A.

Now That You Know Why Thane Is A Great Location To Invest When It Comes To Prime Real Estate In Mumbai, Get All The Help You Require By Availing A Home Loan By Leading Home Loan Service Providers.

With A Loan Amount Of Up To Rs.3.5 Crore, You Won’t Have To Compromise On The Property Or Apartment Of Your Choice. You Get Affordable Interest Rates And Should You Be A First-Time Home-Buyer, You Can Get Tax Benefits Up To Rs.2.67 Lakh Under PMAY’s CLSS