While the previous blog was about 6 reasons why we should buy a flat in Guwahati from a reputed builder, this is about a few important checks before deciding on any flat.
While mulling over things to check before buying a new flat, the process can be incredibly daunting. There are after all, a lot of things to consider before buying a new flat. For the average person, buying a new flat or home is one of the most crucial decisions of her life. It is a huge investment, both financially and emotionally. Therefore, it calls for a thorough research and consideration of certain important checks before taking the big decision.
We at Protech Group plan and design our properties along with these important checks to provide complete satisfaction to our customers. Whether you are a first time buyer or a seasoned investor, here are five important things to check before buying a new flat.
1. Under-construction Vs Ready to move in flats
When would you like to take possession of the flat? This is one of the key consideration to keep in mind because an under construction flat is priced much lower than a ready flat in the same location. Therefore, it also depends on the amount of money you are willing to invest in your flat. An under-construction property is also suitable for investment, or in an eventuality of you selling the flat in the future. With your budget and move in date in mind, you can choose the one which suits your need.
2. Ventilation & Natural Light
A comfortable and a healthy home should be airy and well ventilated. It should receive adequate sunlight for natural light and warmth. So, you can check if the flat has properly placed windows to let sunlight in. Also, you should check if the doors and windows in the flat allow for cross room ventilation.
3. Vastu Compliance
For a house to become a home, it needs to radiate the right kind of energy. If you are a believer in Vastu, check for the entrance that should be east-facing, the direction of kitchen that should face the Northeast, availability of a prayer room and the direction of the bedroom.
At Protech, we design our projects keeping Vastu compliance in mind.
4. Availability of Open Space
You should check for availability of open space for recreation like walking or jogging, and parks for kids to play. A project with greater open space can be expected to have amenities like swimming pool, community hall and landscaped gardens.
5. Availability of parking space
Lastly, check for availability of parking space for you and your guests. Generally, a project has both open and covered parking spaces. The flats with higher built up area, in all probability, have the covered parking spaces allotted to them. Your choice of flats may consider this convenience, as you would not want your vehicle to wear down in the face of natural phenomena like rain, hailstorm and the heat of the sun.
6. RERA Approved
It is very important for the project, you are buying your flat from, to be approved by RERA. RERA provides several benefits to the home buyers and safeguards them from malpractices of unfair builders. Project Protech Galaxy, Bhetapara from reputed builders, Protech Group is a RERA approved project.
Protech Galaxy
Our current under construction project is at Bhetapara, Guwahati. It is called Protech Galaxy, which has two blocks of flats namely, Aries and Nova. These flats are designed with the above checks in mind.
There are only 12 flats left in the project: 2 BHK – 3 flats; 3 BHK – 8 flats; and 4 BHK – 1 flat. You may click on the link below and fill up the form for a site visit.
Buying a home is a significant investment and it involves the financial planning of one lifetime for an average middle class household. We therefore thought of discussing the concern of deciding the right real estate builder while buying a house.
A wise choice is only possible with fair amount of market research. There are a variety of factors that comes into play while deciding a house to buy. Some of us worry about the return on investment, and some of us worry about the quality of amenities provided. We will take 5 of the most important factors, which are commonly considered before buying a flat in a city-like conditions. These factors stand to establish that we should only trust reputed established builders and developers for our dream home purchase.
Timely Completion
Most households take a loan to purchase their dream flat. An early possession of the flat saves EMI and reduces rent costs. It is therefore very important to considered the aspect of timely completion. It is seen that reputed experienced builders have their systems & processes in place to complete the flats on time for timely delivery to the home owners.
The probability of getting the ready flat on time is therefore higher in case of a reputed real estate builder. Also, it is now an essential requirement after the RERA Act where the builder is obligated to complete construction on time.
No Tampering with RERA Norms
RERA is the most important regulation that has been launched for both the builders and the consumers. The intention was to safeguard the interests and the hard earned money of the consumers. We must check the RERA registration number of any project where we plan to purchase a flat.
A reputed builder is more likely to be registering his project under RERA and to inform the buyers about the same. It is also more likely that the reputed real estate builder will follow all the rules of RERA and that the consumers will get the benefits of RERA if anything goes wrong, or there is a delay.
Quality Amenities
Many reputed real estate developers have built their credibility on the kind of amenities their housing projects offer. These developers make sure that consumers get a right value for their money. It is seen that reputed builders provide state of the art amenities including including proper parking space, 24/7 security, clubhouse, swimming pool, jogging track, amphitheater etc.
A reputed developer is experience enough to easily perceive the need of the home buyers, and has the necessary clout in the market to get the amenities made at a competitive price. The quality and durability of the amenities provided therefore bears the mark of excellence as well.
ROI is Return on investment. Lot us buy our properties with the assurance that if we need to sell it in the future, we must get a good bargain. The real estate brand that we choose can work in our favor in such times. A good brand also can pay us a premium on the rent, if we ever decide to put the property on rent.
Additionally, a real estate project by a reputed builder is usually in areas, which are popular, have good connectivity and is secure in terms of market volatility. It is very likely that we will end up getting a better ROI if we invest with a good reputed brand.
Easy Home Loan Sanctions
As we have discussed earlier, most of us buy homes with a long term home loan. We all have banking relationships with one or two banks, and it becomes crucial if these two banks sanction a home loan for the property that we have shortlisted. It is likelier if the property is being built by a reputed experienced real estate developer.
Safety and security of the property and of children is a primary concern for any home buyer. A reputed real estate developer will have better security features in their projects. We have seen sophisticated inter-com facilities at entry points with CCTV monitoring to provide continuous surveillance of the ground floor, entry / exit points, lift and staircase areas in almost all projects of reputed real estate builders.
Conclusion
Established brands are concerned about their brand value and recognition. They are manned by processes rather than individuals. So, there is a lesser change that they would compromise on the quality of their product. When stakes are high, it is important to play safe and buy your property from a reputed real estate developer.
Properties in India are becoming expensive by the day. This makes it even more important to choose the right real estate developer to buy apartments suiting your needs.
About Protech Group
Protech Group is a pioneer in real estate promotion and development in India’s Northeast with over 11 years of experience, 12 projects and 393 flats. Protech derives its name from the two inspirational words – Progressive and Technology. These two words have guided the company’s continuing commitment to uphold the excellent standards of design, quality, pricing and customer service.
If you own a house already, you have the tax exemption while availing home loan to buy the second house. The Indian law allows a person to buy multiple homes and availing multiple home loans to buy new homes. One can have number of properties as he wants in his name and there is no restriction for it. Also there is no restriction in availing home loans, based on how many of your homes you claim tax benefits under tax laws or banking laws. But the amount of home loan for all the properties is made available to a person depends on some factors like age, earning and ability to pay the loan. Anyone can avail tax benefit based on interest paid or on repayment of the principal amount in borrowing money for buying, construction, repairing, renovating etc.
Following are some of the benefits of having multiple homes.
Tax benefit on interest payment
Anybody that owns multiple homes can claim deduction on interest payable for the loan taken by him/her. The loan can be for purchasing new houses, construction, repairing or renovation of any property- commercial or residential. Deducted interest payment is applicable against money borrowed from friends / relatives or borrowed from bank or any housing company. In case of under construction property, deducted interest payment will be made available right from the year when possession is taken by the person after construction is completed. During construction of the house period if any interest is paid, the value paid can be amortized and the person can claim after five equal installments from the completion of the construction.
In case of let out property/ies, we are entitled to claim the entire interest paid, without any upper ceiling against the rent received. If a person owns more than one house property and minimum 2 house properties are occupied by self. Then, he has to choose any one as self occupied and the other as self occupied but deemed to have been let out. For the deemed to have been let out properties, owner needs to offer tax for notional income of the rent that the property fetches. So, once any such property is treated as let-out, we can claim the full interest paid with respect to such property.
Budget 2019 provisions for multiple home owners
Till date it was allowed a taxpayer to have only one self-owned property as self-occupied. But soon after the interim budget 2019 come into existence it is allowing a person to occupy two self-owned properties. As per budget, the deduction for the home loans will remain to be Rs. 2 lakhs for both the properties taken together. This will help the tax payers who own a house in their native place as their other property.
Tax benefits on principal amount repayment
A property owner can claim up to Rs 1.5 lakhs for repayment of the principal amount of the housing loan. Other benefits like provident fund contribution, life insurance premium, tuition fees, PPF contribution etc are also available along with the principal amount repayment. Deduction is also available for registration and stamp duty of a residential house. Income tax laws do not set restriction on the number of houses for which one can claim deduction. One can only claim deduction for repayment of principal amount Rs 1.5 lakhs for all the home loans taken together.
A home owner can claim deduction only after the possession of the property. The deduction is not applicable if the loan is taken from friends or relatives. If anyone sells or transfers his house within 5years of loan taken, deduction is not applicable in the transfer year. The deductions claimed earlier years are made reversed and taxation is done in the same year when transfer of the property is done.
Vastu compliant entrance of a home is believed to be the gateway to success. Vastu Sastra has a great importance for entrance door in a home, as this place energizes entry and exit of a house. Energy either positive or negative affects the life of the people. Obviously the positive energy will bring in prosperity and happiness. Moreover, the main entrance creates the first impression of a house.
Here we are presenting some Vastu tips for the main entrance of our homes that needs to be followed and make our home a happy place to live in.
Coordinate between the main gate and entrance door
According to Vastu, having the main gate of the house and the entrance door along the same line is inauspicious. This will avoid the direct flow of energy. Also we have to consider that no shadow falls on the main door, especially those of trees and buildings.
Direction of the entrance door
It is important to place the entrance door in the right direction. It should always be in the north, north-east, east, or west. These directions are considered to be auspicious according to Vastu. A door in the south or south-west, can be corrected by using a lead metal pyramid and lead helix.
Leave the negativity outside
We should keep a doormat near the main entrance of our house. Doormats not only wipe the dirt out of the shoes, it also absorbs the negative energy and prevents it entering your home.
Bigger the better
Beautiful and vibrant
Beautiful and a vibrant surrounding brings fresh energy inside our home while you enter and exit from the home. So if we can we should make the surrounding beautiful. This gives us and our family happy and pleasant feelings while coming or going out of the house.
Decorating the door
Good decorations of the main door freshen up the mind of the people living there. We can decorate the main door with divine symbols like Om, Swastika, Cross etc., and we can also put rangoli on the floor as they are considered auspicious and invite good fortune to our home. According to Vastu, we need to have nameplate in front of the entrance or in the main door as it is believed that nameplate invites health and wealth into our home.
Avoid the corner
According to Vastu, we should avoid the corners while designing the main entrance of our house. In fact if possible we should try to construct the main entrance door a few feet away from any corners. It is best in the interest of the inhabitants.
Best material for the door
The main door of the entrance should be strong and sturdy without any cracks or damages. Wood is considered to be the best material for the doors. Metals can also be used for our entrance according to the direction of the entrance door. If the door is in the South direction, the door material should be combination of wood and metal. The door should be of metal in the West direction, it should have silver colour in the North direction and in the East direction the door should be made of wood and adorned with limited metal accessories.
Clean and clear surrounding
We always need to keep the entrance clean, clear and free from any obstruction. A clean entrance fills positive vibe in our mind and soul. We should not keep dustbins, broken things like chairs or stools, near to the main door. The surrounding the main door, should have adequate light. We should never place a mirror opposite to the main door as it causes the energy bounce back.
Energy is contagious. Energy is something that we cannot see but it can be felt. We can experience it around us. Sometimes we just walk into a place and we can feel whether the environment of the place is happy or sad. It is the energy that affects us in our conscious or unconscious mind. Our home is an extension of our body and soul and it needs to be filled with positive energy in order to live a happy and healthy life.
Here we are presenting some ideas or tips to keep off negative energy from our home and fill our home with positive energy.
Bring home the nature
Nature represents peace and purification. It is scientifically proven fact that nature improves our health and quality of life, reduces our anger and anxiety, freshen our body and mind. So we need to plant trees and make a indoor garden if possible and take the advantage of the plants.
Welcome positive energy to home
A beautiful entrance brings positive energy inside our home. It flows through the entrance door, so we have to make the entrance free from any obstruction and welcoming. We should not keep any window or door just opposite the entrance door so that the energy will not flow out through it immediately. We can hang a chime and decorate it to look stunning. Positive energy will attract towards the door.
Symbol of Godliness
Making a temple or a pooja space in our home creates good vibes. It’s considered good to be a believer in God and hence it is a source of positive energy. Even if anyone is not, still he/she can keep the symbols of Godliness like a good frame of a Sanskrit shlok calligraphy, Buddha statue or other non-religious Godly symbols in the home. It fills the environment with positive and peaceful vibe and drives away the negative energy. But we don’t need to hang it or place it outside the main entrance.
Changing layouts
We can change the layout of the rooms, add colours and clear the mess of your home to bring positivity into our home. Changing the layout like furniture, cushions, carpets etc will add freshness in the room. We need to clean the dust daily and keep away the broken things that bring negative energy.
Sound of music
A good music can help us to keep the environment fill with positive energy. Music from wind chime, bells or musical instruments can break the negativity and help in free flow of positive vibe. We can hang the wind chime or bell at the entrance to welcome the wealth.
Fresh and fragrant
Lighting fragrant candles or incense sticks fill our home with scented aroma and bring positive energy. Fresh flowers are considered as auspicious. We can keep fresh flowers in a bowl or vase with water in it. We need to change the water regularly so as to keep the flowers fresh and fragrant.
