Pay property tax early, get up to 11% rebate: Ahmedabad civic body

The Ahmedabad Municipal Company (AMC) on Monday launched an early-bird incentive scheme for these paying property tax.
Launching the scheme, AMC income committee chairman Jainik Vakil stated residents who pay their taxes within the first slot — April 22 to Might 21 — will get a ten% rebate. Those that pay between Might 22 and June 21 will get 9% off, and eight% can be deducted for these paying between June 22 and July 21.

“That is the primary time the AMC has supplied incentives to early payers. We noticed that the AMC was giving incentives equally for these choosing advance property tax cost. So this yr we additional incentivized it,” stated Vakil. The AMC will even give a 1% incentive throughout slots to these making digital funds.

Residents whose homes measure 70sq m or much less have already been given a 25% rebate and so they too will even be eligible for the early-bird incentive. “Although this scheme, we plan to gather 40% of our taxes by mid-July. Twelve lakh households will profit from the 70sq m rebate,” Vakil added.

Themed Plotted Developments Attract City Buyers

Themed plotted real estate complexes are increasingly attracting city buyers in Ahmedabad and surrounding areas. In recent years, the real estate investment in Ahmedabad has increased manifold. A number of projects have come up across the city, which offers themed plotted developments to the buyers. Such projects are drawing buyers in large numbers in recent years, as they allow the homeowners to develop homes that cater to their hobbies and passions. For instance, themed plotted developments have got the adequate infrastructure for nature, sports activities, organic farming, and so on. These plots are being upgraded by the reputed real estate companies. These are not simple pieces of land that are connected by basic features like water supply, concrete roads, park, and electricity. Themed complexes have been in the trend for quite some time now. Resorts, villas, and other real estate have been developed across the country by the reputed builders in India. You may check out the latest projects online in the real estate portals.

Homeowners, particularly luxury property buyers are interested in buying these homes. These include the people belonging to the ultra-high-income group and IT professionals. Most of these people are interested in building their second homes, rather than purchasing templated properties. The developers, too, are keen to enter the micro-markets, tapping the possibilities of selling these properties here. They integrate these homes with state-of-the-art amenities in order to lure the customers. Certain housing complexes have also been developed with artificial beaches, boats, and sandboxes. These also contain many man-made designs, such as artificial forests.

The amenities in these themed plotted developments are included after considering specific situations. Therefore, these homes may come with turfs, lawns, basketball courts, clubhouses, stadiums, facilities for indoor games, and so on. Many complexes in recent years have come up with yoga and acupressure facilities. Besides, these homes come with dedicated play areas for children, a swimming pool, gym, and other amenities. Homeowners who buy these properties get access to the amenities, in exchange for an annual maintenance fee. For the latest updates on upcoming and ongoing projects, visit the Radhe Developers website.

Investors, on the other hand, too, have been investing in themed plotted developments. They have realized that these projects attract high-income buyers and are lucrative deals in the long run. Most of the key cities of the country have witnessed the development of these resorts. An additional advantage for the homeowners in these cases is the proximity of the complexes to the key areas in the city. The residents can get easy access to the important places, including the commercial and business zones in the city. Besides, the homeowners can get fast access to the places of recreation. These developments have taken place in areas close to reputed schools and hospitals. This enables the homeowners to get fast access to these institutes. If you are willing to buy apartments in Ahmedabad, you can get them customized in the real estate portals. Luxurious homes have always been a fascination for homeowners. Moreover, these homes bring you an elegance you had always craved for. For property owners, this is the right time to make the investment.

Four advantages for married couples on jointly owning a property

Jointly owning a property comes with certain intangible benefits. It elevates the status of the wife in the society and creates a long-term commitment and better bonding between the married couples. You should also be aware of the financial advantages of jointly acquiring the property.

Stamp duty

Holding property jointly allows the homeowners to enjoy certain benefits on stamp duty. It is for this reason that women in certain states are encouraged to hold property jointly. The stamp duty rates are reduced by 1-2% when they jointly hold the property. For instance, the stamp duty for a woman in Delhi is 4% of the market value, while that for a man is 6%. In Rajasthan, women have to pay 4% of the market value as stamp duty, while a man has to pay 5%.

Tax benefits

A joint home loan comes with certain tax benefits for all the co-borrowers. They can claim a tax deduction of INR 1.50 lakhs for the principal amount under Sec 80C and INR 2 lakhs for interest payment under Section 24. When two or more people acquire a home loan, each of them can individually opt for the tax benefits. As a result, the tax deduction will be higher.

Affordability

The loan eligibility determines the budget to purchase a property. This is decided based on the income and it has certain limits. When you go for joint registration, you can apply for a joint home loan. The debt burden is shared between two people. This helps in obtaining a higher amount of loan, as the creditors consider the incomes of both the people. You can obtain a joint home loan by applying along with your spouse, siblings, and parents.

Succession

Joint ownership between the couples also comes beneficial while dealing with succession. In case a property is owned by a single person, transferring property can be a time-consuming and lengthy process. The procedure to obtain the documents in the name of the successor involves excessive conformation to the rules and regulations. Although people often go for shortcuts and unethical means while transferring the property, however, the process becomes simplified when you go for joint ownership. It can reduce paperwork and other related hassles to a great extent. It is wise to go for joint ownership, as in these cases, the spouse becomes the successor. This keeps off unwanted problems in the future, after the death of a person.

Best Vastu Tips for Kitchen

Vaastu is a traditional Indian methodology to balance energy in our homes. Vaastu emphasizes a lot on design, layout, spatial geometry, and space arrangement. Though there are no strict rules in Vaastu, there are suggestions which if followed properly can be helpful.

Vaastu is based on the concept that a house is not just a building but embodies a living spirit. Hence, it should be designed and managed in such a way that enforces positivity and reduces negativity to promote overall financial, mental, and physical well-being.

In this blog, we will let our readers learn more about Vaastu and how through these small and simple tips, one can make their home Vaastu-compliant. The inaugural post is on the kitchen space. We will subsequently have more posts on various other important parts of the house such as the living room, bedroom, and meditation/prayer room.

Kitchen in South East Direction

The kitchen is a place where cooking on stoves takes place which represents the fire element. The South East direction is best for fire and hence it is suggested that kitchens should be in the South-East direction.

Distance B/W Kitchen and Bedroom

If possible, the kitchen and bedroom should be far off from each other as both of them deal with different types of energy.

Stove/ Burner

The stove/burner should be placed in southeast in the kitchen and the lit should face east. It can increase peace and health of the house owner as per Vaastu.

Sinks in Kitchen

It is advisable to put the kitchen sinks in the north east direction. Also sink is associated with the water element and stove is the fire element, neither of which should be very close by.

Lots of Windows and Exhaust

Use at least two windows and ensure there is an exhaust so that negative energy and negativity can be flushed out.

Color Combination

One should avoid using black as a color scheme in any place of the kitchen. Rather, it is recommended that bright colors such as red, orange, and greens be used instead to create more vibrancy & harmony.

Radhe Developers performs bhumi pujan for plotting/villa project Radhe Acres

The Radhe Developers performed bhumi pujan and laid the foundation of their plotting/villa project Radhe Acres at site near Ahmedabad.

This project has exuberant lush green area, light filled living spaces, breath taking scenic views along with traditional & modern amenities like temples, swimming pool, café and a club.

Crucial Tips for NRIs Investing in Indian Real Estate

Non Residential Indians (NRI’s) holding Indian passports, unlike foreign origin people, hold similar rights as Indian residents in property ownership norms under FEMA rules. They can invest and own Land in the form of Residential and Commercial units, except forests, or agricultural land. Smart NRI’s have taken advantage of these rights and favourable exchange rate differentials to buy properties for their investment potential and sometimes a future retirement home.

However, it’s not always smooth sailing for them. Stories are around of NRI’s falling prey to wrong property investment decisions including fraudulent ones. Real estate, like all financial investments require proper due diligence on the part of the buyer. Here are some tips for the discerning NRI investor who wants to invest in the Indian Real Estate Market:

Purpose: NRI’s are advised to understand their risk appetite and invest in Indian Real Estate with a clear purpose. If its returns that they are interested in, they can get direct exposure by buying real estate units in a developed area and then renting it out. They could also buy equity shares of listed real estate developers which could give them an indirect exposure. NRI buyers sometimes also look for a future retirement home, and this could lead them to investing in a developing area.

Location: Like any real estate deal the world over, location is important. In a country like India where infrastructure lags demand, a location closer to better infrastructure would yield greater long term returns.

Reputation of developer: It is imperative for any customer to do a thorough check of the track record of the developer if it’s a primary sale. Past delays in project implementation and history of complying with laws will give a good indication of the reliability of the developer.

Government policies: Real estate in India is susceptible to changing government regulations. Investment in forest, plantation and agricultural areas are a no-go for NRI’s. Policies related to leasehold, freehold, zoning areas require careful understanding in addition to future plans of the government for that location.

Legal title/document checks: It would be advisable for the NRI buyer to also check the legality of the property. Confirmation should be sought about current owner, past history, any legal disputes, and local regulatory approvals before any deal.

Tax implications: NRI’s should also think through the tax implications including withholding taxes, TDS at the time of a purchase, rental taxes and property taxes should be properly understood with the help of a tax attorney. For NRI’s looking for capital appreciation, it is recommended to stay invested for at least three years to avoid short-term capital gain tax.

Finally, property management is crucial. NRI’s would do well to hire a good property manager or a broker as they may not be in the country all the time. This combined with a sound exit strategy at the appropriate time with good returns will provide the peace of mind every deserving NRI should get when they invest in the Indian Real Estate market.

Residential Apartments In Ahmedabad Good Investment Option

Ahmedabad, the town of dreams should be visited at least once in your life span. Ahmedabad is developing extremely fast as people constantly look to stay in Ahmedabad with the aim of follow a good career, and several people come just to visit it as a traveler’s place. Regularly, the population is quickly growing and residential properties in Ahmedabad are developing to give safe haven to the upcoming age group.

With the growing employment prospects people are rushing to purchase the apartment for sale in Ahmedabad so that they have their personal permanent safe house. The increasing population these days is evenly supported by the increased buying power that’s why the public are in a rush to purchase apartment for sale in India. As per this existing trend you can say that India is certainly experiencing an apartment boom.

The real estate companies of Ahmedabad are trying tougher to fulfill the ever augmenting demand of Real Estate Properties in Ahmedabad. Really with the growing industries and the development of different types of industry people are coming to live in these big cities for practiced purposes and this trend make them search a good living place for themselves through their family.

So it becomes necessary to have a decent flat or house where they can stay and live their life quietly. But at the same time they require to think regarding their budget too. That is why they search a support that could help them in getting the right home or flats in Ahmedabad without crossing their budget. Hence the major motto of the Ahmedabad real estate is not just to offer their customers a good home or flat, but to offer them a reasonable one which they can simply pay for.

Furnished flats in Ahmedabad differ a lot in the cost range because of the quality and advantage every suburb provides. While several suburbs offer transport benefits, some have a great comfortable lifestyle.

Here are several of the reasons why the city tops the list of sought-after asset destinations:

  • Ahmedabad offers a good confined market for absorbing resale actions.
  • An increasing number of builders are currently offering transparent exit options. As there is ease of exit, investors choose such markets.
  • The market provides good-looking discounts and schemes.
  • In 2022, the residential record piled up in Ahmedabad & this gave investors a possibility to get good bargains.

Another motive is the introduction of global companies to Ahmedabad that has impacted the assets values. Their arrival, of Multinationals, Information technology giant and further big companies in Ahmedabad has spurred the latent demand for high-end and luxury properties. The expert employed with these companies has high salaries and hence opt to buy 2 bhk flats in Ahmedabad instead of renting them out.

Residential property in Ahmedabad is although a grand investment and numerous people who love to invest in flats as numerous find it necessary to purchase several Luxurious flats in Ahmedabad due to the forever growing property rates. Also, with the large accessibility of flats in and around Ahmedabad, several of them either tend to purchase it or take it on rent if buying tends to be costly.

Even though the charge of flats and New Projects in Ahmedabad has been on the increase in the past 4 5 years, there has still been a rise of real estate in Ahmedabad as increasingly people still purchase the flats seeking potential investment.

Smart Ways To Manage Home Loan EMIs During Financial Crisis

Owning a home has become easier with attractive home loan schemes by banks and other financial institutions. Today everyone can also buy a home that fits into their frame of “Dream Home”, owing to the power of Home Loans. From lower income class to upper income class, majorly property buyers take home loan to buy a property of their choice. With home loan option, property buyers with fewer saving get a substantial financial aid, people with dream of bigger house gets ease to expand their budget. No wonder home loan is considered a boon for property buyers.

But at times this boon turns into a swamp, in which the loan payer gets stuck. Usually this starts with some unforeseen financial crises which create hurdles in the repayment of loan EMIs. Failure to pay the EMI of the home loan for a month or two makes the borrower a loan defaulter. And when stretched for more than six months, the borrower even loses his/her legal rights on the home.

Indeed, defaulting on home loan EMIs can have serious implications and therefore, must be avoided at all costs. But if you find yourself in a financial crisis, where paying EMI seems next to impossible, you need to manage your EMIs smartly to avoid landing in any legal trouble from the lenders. Here are some of the smart ways to manage home loan EMIs during any financial crisis. If you ever find yourself in any such situations, these ways can help you get out of the crisis while still holding the rights to your home.

Consider Refinancing Options

If you are finding it hard to pay off a particular home loan due to high rates, the best way is to consider refinancing options. By refinancing a home loan, you get a separate loan from another bank to pay off the existing loan. This can lead to a substantial reduction in the interest charged by the existing lender and thus, the EMI. Those under any financial crisis can calculate the amount of money they can pay as EMI and find lenders who would be ready to offer a loan with that much EMI. This will increase the tenure of the home loan but the monthly installment will reduce.

Get Your EMI Reduced

One of the best ways to manage home loan EMIs during any type of financial crisis is to talk to the bank or lender and get the EMI reduced. This is an ideal solution for those who are finding the equated monthly installments too high because of other financial commitments. Most of the banks and financial institutions understand such situations and come up with feasible options according to the borrower’s financial conditions. They may reduce the EMI and increase the time for the loan repayment. However, the total amount paid by the end of the increased tenure might be higher than the amount paid at the initial rate.

Talk To the Bank To Postpone Your EMI

If you feel that your financial crush is temporary, the best way to manage the EMI in such situations is to set everything clear in front of the bank or lender. You can tell them the duration for which you would be unable to pay the EMI and ask for postponing the EMI for those many months. Be it a job change, temporary unemployment or loss, postponement in EMI can help in keeping one of the biggest financial expenditure at bay. This EMI holiday can be availed by paying a small payment deferment penalty.

Go For Lump Sum Settlements

If you feel that you might not be able to pay the EMI in the coming future because of impending financial obligations, asking for lump sum settlement is a feasible option. This requires some money in hand, for which you can consider getting a loan from another bank or financial lender offering a lower rate of interest. By asking for a lump sum settlement, the banks would waive off some charges and amount from the total sum to be paid and you can settle the loan once and for all by paying the settlement money.

Bonus Tip:

Before availing any home loan, it is important to take some preventive measures. Make sure that you take home loan insurance for any type of home loan. These home loan insurance policies help the borrowers in repaying the home loans in case of any financial crisis. Not only do the home loan insurances cover the payment in case of the death of the borrower but also provide a solution in case of any financial crisis.

Advantages For Married Couples on Jointly Owning a Property

Jointly owning a property comes with certain intangible benefits. It elevates the status of the wife in the society and creates a long-term commitment and better bonding between the married couples. You should also be aware of the financial advantages of jointly acquiring the property.

Stamp duty

Holding a property jointly allows the homeowners to enjoy certain benefits on stamp duty. It is for this reason that women in certain states are encouraged to hold a property jointly. The stamp duty rates are reduced by 1-2% when they jointly hold the property. For instance, the stamp duty for a woman in Delhi is 4% of the market value, while that for a man is 6%. In Rajasthan, women have to pay 4% of the market value as stamp duty, while a man has to pay 5%.

Affordability

The loan eligibility determines the budget to purchase a property. This is decided based on the income and it has certain limits. When you go for a joint registration, you can apply for a joint home loan. The debt burden is shared between two people. This helps in obtaining a higher amount of loan, as the creditors consider the incomes of both the people. You can obtain a joint home loan by applying along with your spouse, siblings and parents.

Tax benefits

A joint home loan comes with certain tax benefits for all the co-borrowers. They can claim a tax deduction of INR 1.50 lakhs for the principal amount under Sec 80C and INR 2 lakhs for interest payment under Section 24. When two or more people acquire the home loan, each of them can individually opt for the tax benefits. As a result, the tax deduction will be higher.

Succession

Joint ownership between the couples also comes beneficial while dealing with succession. In case a property is owned by a single person, the transferring property can be a time-consuming and lengthy process. The procedure to obtain the documents in the name of the successor involves excessive conformation to the rules and regulations. Although people often go for shortcuts and unethical means while transferring the property, however, the process becomes simplified when you go for joint ownership. It can reduce the paperwork and other related hassles to a great extent. It is wise to go for joint ownership, as in these cases, the spouse becomes the successor. This keeps off unwanted problems in the future, after the death of a person.

Residential Themed plot developments attract new buyers

Residential themed plots development are increasingly attracting young buyers in Ahmedabad. In recent years, the real estate investment in Ahmedabad has increased manifold. A number of projects have come up across the country, which offers themed plotted developments to the new buyers. Such projects are drawing buyers in large numbers in recent years, as they allow the homeowners to develop homes that cater to their hobbies and passions. For instance, themed plotted developments have got adequate infrastructure for nature, sports activities, organic farming and so on. These plots are being upgraded by the reputed real estate companies.

Homeowners, particularly the luxury property buyers are interested in buying these plots. These include the people belonging to the ultra-high-income group and IT professionals. Most of these people are interested in building their second homes, rather than purchasing template properties. The developers, too, are keen to enter the micro-markets, tapping the possibilities of selling these properties here. They integrate these homes with state-of-the-art amenities in order to lure the customers. Certain housing complexes have also been developed with artificial beaches, boats and sandboxes. These also contain many man-made designs, such as artificial forests.

The amenities in these themed plotted developments are included after considering specific situations. Therefore, these homes may come with turfs, lawns, basketball courts, clubhouse, stadium, facilities for indoor games and so on. Many complexes in recent years have come up with yoga and acupressure facilities. Besides, these homes come with dedicated play areas for children, swimming pool, gym and other amenities. Homeowners who buy these properties get an access to the amenities.

Investors, on the other hand, too, have been investing in themed plotted developments. They have realized that these projects attract high-income buyers and are lucrative deals in the long run. Most of the key cities of the country have witnessed the development of these resorts. An additional advantage for the homeowners in these cases is the proximity of the complexes to the key areas in the city. The residents can get an easy access to the important places, including the commercial and business zones in the city. Besides, the homeowners can get fast access to the places of recreation. These developments have taken place in areas close to reputed schools and hospitals. This enables the homeowners to get a fast access to these institutes. If you are willing to buy apartment in Ahmedabad, you can get them customized in the real estate portals. Luxurious homes have always been a fascination for homeowners. Moreover, these homes bring you an elegance you had always craved for. For property owners, this is the right time to make the investment.