Dec 16, 2020 | Buyer Concern, Blog
Protech group in its blogs have always discussed topics that can help home buyers make strategic decisions regarding financial investments. In this blog too, we will discuss a crucial subject matter that concerns home buyers and property seekers.
Home loans today have become a basic financial tool that is explored by most home buyers. Availing home loans can not only ensure you easy liquidity in times of cash crunch but also allows you to buy your dream home without worrying about your current monetary status. It allows you to extend your horizon of financial feasibility, ensuring you get the best house as per your desire. However, while seeking a home loan it is always advisable to do your research and keep yourself informed.
In this blog, we will discuss five key points that should be considered while seeking home loans.
1. Tax benefits
A home loan can help you save money as a home loan is eligible for tax deduction under section 80C. EMI for the housing loan has two components – interest payment and principal repayment. Under various government schemes tax deduction can be claimed not only on interest but also on the principal amount of EMI. If the loan is taken jointly, then each of the loan holders can claim a deduction for home loan interest up to Rs 2 lakh each and principal repayment u/s 80C up to Rs 1.5 lakh each in their tax returns. Knowing these norms can help you plan your budget for a home loan better.
2. The Tenure of Repayment
The duration taken to fully return the loan sanctioned to the home buyer is called the repayment tenure. Longer repayment tenure results in reduced EMI amounts, however, it increases the interest paid on loan. Short repayment tenures have higher EMI but lesser interest rates. The kind of loan you opt for will depend on your budget and the return value
that will accrue from the property. If you feel that a loan tenure of 25 years suits your requirements even with the higher interest rate, you can go for it. Smaller repayment tenures also come with attractive interest rates and if you wish to make a faster repayment, the bank can help you accordingly.
3. The final amount that you will be charged.
While finalizing the budget for buying a property, one must ensure they have read the bank documents properly and have compared various offers presented by different banks and financial institutions. A home loan constitutes of EMIs, Interest that has to be paid on the principal amount, and the down payment. The larger the down payment amount the smaller will be the burden of EMI. As such, it is important to consider your current saving and future financial commitments before selecting a home loan plan. The EMI you finally settle for must be the one that can be conveniently paid every month without defaulting. Missing EMI’s increases the interest rate and puts an undue financial burden on your financial plans.
4. Foreclosure Norms
RBI norms related to the foreclosure of a loan changes from time to time and this can be a tricky part. While a homeowner may happily save money for early repayment of loans, he might meet with only disappointment as banks charge a huge amount for early closure of loans. Since 2019 RBI has barred NBFCs from implementing foreclosure charges or pre-payment penalties on any floating-rate loans. However, there are other charges such as administrative, processing, or service charges which banks may levy. As such knowing the norms of a bank related to additional charges is very important.
5. Credit score and home loan eligibility check
It is advisable to have a good CIBIL score which is more than 750 for being eligible for home loans with better interest rates. These days most banks have made it an essential requisite where home loan seekers need to furnish their credit score to the bank before applying for a loan. To know your CIBIL score you can take various home loan eligibility tests that allow financial institutes to check your eligibility based on your past credit history, the regularity of payoffs, etc.
Conclusion
As a well-known real estate developing company in Assam, the Protech group has always offered key insight on investment planning and property finances to home buyers. Protech group has been a Part of SBI home Loan Mela – 2020, where home buyers got an opportunity to browse through a range of home loan products. Our upcoming residential projects such as the Protech Paradise apartment complex at Bhagaduttapur, Kahilipara are covered under PMAY (CLSS) Govt. scheme for home loan subsidies. To book an apartment with Protech Group and avail an easy home loan you can visit www.protechgroup.in
Dec 12, 2020 | Vastu, Blog
More than brick and mortar and the elemental interior decor, your home is woven with threads of dreams, hope, love, and nostalgia. Since it’s the place you come back to after a tiring day, no wonder you would want to leave no stone unturned in ensuring that your home décor makes your nest an abode of positive vibes and a place to lift and recharge your spirits. Vaastu shastra, which literally translates into “science of architecture” takes into consideration the five basic elements of life: air, water, earth, space, and fire to reveal the best direction of the interior decor of your home to ensure a flow of positive energy. We, at Protech group, have 7 Vaastu tips for your home:
- The entrance: The door is the entry point of all energy of the house and Vaastu says that north or northeast is the best direction for the entrance. Contrary to common practice, the placing of footwear rack or garbage bins near the entrance is prohibited in Vaastu since it is believed to block positive energy.
- The bedroom: The ideal place for the bedroom in the east or south-west direction but don’t put the bed pushed along the wall. Also, to ensure positive energy and good health in your home, a well-lit room with a good supply of fresh air is a must.
- Knick-knacks: A nameplate at the entrance, an idol or sculpture in the hallway and wind chimes at the door are all believed to attract positive energy and good luck, according to Vaastu.
- The power of water: Paintings showing the scenic views of the river, flowing water or goldfish on the wall brings good luck and wealth to your home and life. An aquarium in the room is one of the easiest Vaastu tips to cut off any negative energy in the house. Make a fountain or any other form of flowing water a part of home décor to ensure a flow of positive energy according to Vaastu.
- The kitchen: The kitchen needs a proper placement as per Vaastu home décor since it contains the two opposite forces of nature, fire, and water. It is important to place the sink and stove at opposing ends to avoid a collision of the elements.
- Walls, curtains, and potted plants: Light and pastel colours in the walls and curtains help to maintain a peaceful and calm environment. Vaastu warns against colors like black and red which can raise the internal temperature of the house and spirits of the mind. Keep potted plants wherever you can to welcome fresh air, lively home décor and positive vibes in your home.
- Mirror, mirror on the wall: Another easy Vaastu tip for your home is to add mirrors wherever you can to introduce positive energy or vibes in your home. Mirrors reflect vibes of goodness into all nooks and corners of the house filling your home with peace, luck and prosperity.
Protech Group, one of the leading real estate companies in Guwahati offers Vaastu compliant apartments to ensure you are welcomed into an aura of positive energy as soon as you step into your new home. With the help of reputed architects and interior designers who have redefined aesthetics in building architectural design and curating home décor, we design your home, paying details to Vaastu ordinances for the 100% satisfaction and happiness of our customers.
***Disclaimer the tips mentioned here may vary and depend on the location of the actual apartment.
Nov 27, 2020 | Protech Properties, Blog
Protech Group is one of the best real estate companies in Guwahati with a vision to have 100%, satisfied customers. It aims to revolutionize Guwahati’s skyline with durable and humane structures, modern architecture, and structural designs with thorough quality checks and processes to ensure top-notch quality. Protech Group is committed to offering the best value for money proposed. It is a pioneer in real estate promotion and development in India’s Northeast with over 15 years of experience. With 13 landmark developments across the city, the real estate company already has several successful completed and ongoing 2BHK, 3BHK & 4BHK residential projects in Guwahati to its credit.
Protech Group is one of the well-known real estate developers in Assam to get the CMO Asia grant – 2018-19 in the class of Real Estate. With so many achievements under its belt, it has become a popular name in the real estate sector. Here are five reasons why you should invest in Protech Group:
Protech Group has a high tangible asset value
Protech Group guarantees top quality principles and premium brands with regards to washroom fittings, electrical fittings, and kitchen fittings. The large arrival area, swimming pool, cantilever balconies, and automated speed lifts make Protech Group apartments a valuable asset. Property investment consistently brings incentive in your life and incentive in your home. Unlike other assets that can leave you with almost no resource worth, for example, a stock that can plunge to zero, or another vehicle that diminishes in an incentive after some time; property holders have protection against such diminishing value of the asset.
Location
All the flats of Protech Group are in the prime location of Guwahati, which is fast transforming into a metropolitan that is evident from the excellent infrastructure, ultra-modern facilities, and state-of-the-art amenities. It is because of this close connectivity to the National Highway and the upcoming infrastructure facilities, Protech Group flats will one day become the new point of reference. That will strengthen its valuation and increase equity for the homeowners.
Protech Group values will always increase over time
The growth in the economy over years in Assam, and particularly Guwahati has made it a financial hub of the Northeast. Job-seekers, students, entrepreneurs from all over the country are moving into Guwahati to make a living. Protech Group houses as such can be a long-term investment strategy where your rental income increases in value over time with the growing economy. Not only you receive rental income every month, but you will be earning a good profit when you sell the house in the long run. It is one of the safest investments out there.
Ongoing Protech Group residential flats are RERA Certified
The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which aims to ensure homeowners’ interests. Buying 3BHK flats of Protech Group or any other flats from ongoing residential projects provide you RERA certified apartments. RERA ensures that your booked flat gets constructed on time or before time. Another major benefit for consumers is that the builders will quote prices based on carpet area, and not on super built-up area.
Pradhan Mantri Awas Yojana (Urban)
Pradhan Mantri Awas Yojana (Urban), in short PMAY is a credit-linked insurance scheme of the Government of India to make housing available at affordable rates. You can avail the benefits of buying homes with low-interest rates, even if your parents have their own homes.
To buy a flat in Protech Group, you can avail attractive subsidy under PMAY Urban and save up to Rs. 2.67 lakhs rupees. Additionally, Protech Group has partnered with the top banks of India – SBI, Canara Bank, HDFC Limited, and Axis Bank to provide home loan facilities to help you purchase your dream home.
An investment in Protech Group is not only a safe financial venture, but it is also an investment that can provide years of fun, happiness, and priceless memories that will last a lifetime. Protech Group tries every possible way to keep their commitment religiously towards catering to every house need of their customers, thus building trust.
Nov 23, 2020 | Lifestyle, Blog, Home Hacks
Steps to your first house are always exciting, but before that, you need to focus on many other important things. Needless to say, the Safety and security of your house, top the list. A new home always gives you a fresh living experience, safety, and security which gives you peace of mind.
However, we have decided to sum up 6 useful safety tips that you must check while moving into your newly purchased house.
1. Install a Home Security System for Your New Home: Home with security systems are 60% less likely to be burglarized. To keep our home secure we recommend installing a home surveillance system which can be accessed by your Smartphone to monitor each and every activity around the apartment.
2. Install a Smart Doorbell to Secure Your New Home from Intruders: Smart doorbells act as your eyes and ears. If someone rings your doorbell you can use your Smartphone to confirm who’s at the door. There are few products available in the market which allow two-way communication in which you can communicate with the person standing at the door without your physical presence. It will keep your house safe from burglars in the future, insuring peace of your mind.
3. The Emergency Exit: It’s always important to secure your apartment against unprecedented incidents such as fire or earthquake. Make sure the apartment has a handy escape plan to get you out in case of any emergency. Every floor must have pasted fire escape plans. If you’re close to the ground floor, check if your windows can be opened easily. Check for working smoke detectors and carbon monoxide detectors, an easy way to keep your family safe.
4. Get to Know Your Neighbours: Walk around the neighbourhood when you move into a new place. Say hello to people who live nearby. And if possible, become friends with your neighbours. They will help protect your house while you are on a vacation and take care of your plants and pets while you are away. Getting to know your neighbours also helps to strengthen connections and build trust, creating a happy and harmonious neighbourhood.
5. Secure Your Windows and Doors in Your New House: Windows and doors are amongst the most important features in any home. They are often the weakest pieces of a home, and lawbreakers normally enter a property through windows and entryways. So make sure to fortify windows and entryways while moving into another level, so that it’s not as simple for break-ins to access your property.
6. Check the location of the Apartment: The society should be situated in a safe and secure area with 24 hours security on the main gates, and should be well connected with transportation, local market, hospital, school, and malls. All kinds of necessary amenities such as restaurants, gymnasium, and swimming pool. There should not be any problem with parking and the street lights light up the roads at night with a peaceful locality.
Choosing to move to another property is an extraordinary experience, however, whether you’re moving alone, as a family, with small kids or pets, your security in your new home ought to be central. If you are looking for well-connected residential apartments with all kinds of necessary modern amenities, do visit www.protechgroup.in. To defend your property, your things, and yourself, consistently remain mindful and remember about protection.
Nov 18, 2020 | Blog, Buyer Concern
Whether you are a budding entrepreneur looking for a commercial space, lovebirds looking for your nest or a retired person seeking to enjoy a comfortable life, investing in property is always a big decision. While preferences may vary, one thing that all buyers love is a good bargain. Here are a few tips to get you started:
- Surf, review, and compare: This is one time breaking down the internet would actually help you. Look for reviews of the locality where you plan to make the purchase and snoop around asking acquaintances who have recently bought houses about trending buys and price ranges.
- Review the property value: Do not jump in joy on learning that the price offered is well within your expectations. Instead, review the property value, gauge its location, and how much it may increase or diminish in the coming years. Sellers will try to gain a positional advantage by rising the original price and quoting discounts but do not get fooled. This is after all not your regular online shopping!
- Do not act desperate: After you have spent years saving up money, you might be absolutely impatient to get a space to call your own but before you give in to haste, spend a considerable amount of time doing your research. Compare the property rates, review the builders and their past projects.
- No middle man: Steer clear of any manipulative dealer/ agent and insist on having a final talk with the authority selling the house. Brokers can help you find a property fast and might even get you a good deal. However, you can save the money you have to pay the broker if you go solo and also save yourself from misleading brokers who in the lure of getting a good commission from both parties might lead you astray.
- Be resolute about your requirements and budget: We understand that you want to make sure nothing goes wrong in the purchase of your dream space; however confused dilly-dallying will dim the interest of the seller and encourage the sellers to bait you for a higher price. Do your research beforehand and be resolute once you meet the selling party. Since this is probably a one-time purchase you might be actually tempted in paying a little higher than your stipulated budget, a decision that has all probabilities of working against you in the future.
- Judge the price by a survey of its facilities and surroundings: Connectivity, amenities offered and security should be the keywords before finalizing a price. For example, an emerging neighborhood with newly established commercial establishments and office spaces might be expected to have a higher price whereas remote locations or those with reports of electrical supply and water irregularity or high crime rates (which you wouldn’t want to purchase anyway) would hold a much lower value and hence a less price range.
Conclusion
A smart way of building assets and getting high returns on the property will be to put your money on projects of well know real-estate companies. Protech group one of the leading real estate developers in Guwahati is offering world-class residential projects in the heart of the city at affordable prices. To know more visit www.protechgroup.in. With Protech Group you can stay assured of investing into a property with escalating value!