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adProperty News For January 2012

     
 
Choosing a sink for your dream kitchen
Source : The Hindu Published On : 2012-01-07 City : Chennai

Choosing a Sink for Your Dream Kitchen

Modern kitchens are more than modular segments. Complete solutions with compact systems for cooking, washing and other needs of the kitchen are available.

One fast-growing kitchen product is the sink. Available in stainless steel, cast iron, solid surface, composites, and natural stones, the sinks come with glossy, satin, or anti-scratch finishes. The sinks are not just single bowls with a drain tray. They come with two or three bowls, vegetable bowls, strainers, guards, drain kits, faucet, soap dispenser, and even garbage disposer. Some of the latest entries in the market have sensors too.

Though Germany and Italy are the pioneers in kitchen solutions, several imported and domestic brands are available in the market. Many houses prefer to have the conventional sink made of natural stones outside the house and the modern ones in the kitchen....

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Investing in real estate private equity funds
Source : The Hindu Published On : 2012-01-07 City : Chennai

Investing in Real Estate Private Equity funds

The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatised, professional organisations funded with public capital and having multiple market and product strategies.

As a result, Indian real estate has seen a considerable flow of capital in recent years, both from foreign and domestic sources. The developer community is adapting to the requirements of joint venture arrangements with institutional capital sources by providing improved transparency and higher professional standards. The preferences of commercial space occupiers (particularly MNCs) as well as residential space buyers are driving improvements in design, engineering and construction quality....

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Planning vital before availing a home loan
Source : The Hindu Published On : 2012-01-21 City : Hyderabad

Planning vital Before Availing a Home Loan

Banks and HFCs are increasingly getting strict with their customers, insisting that they obtain a “clean chit” from CIBIL (Credit Information Bureau (India) Ltd.) proving their credit history because, in their quest to own a house many people resort to all kinds of activities which can land them in trouble eventually.

Bhaktavalsalan, AGM, Can Fin Homes Ltd. Jayanagar Branch, Bangalore (a housing finance company) narrated a recent customer's case who had applied for a home loan. A prospective borrower had applied for a loan submitting relevant documents. Since his case seemed genuine he was given an ‘in-principle' sanction letter. But when his credit credentials were verified with CIBIL before the loan was to be disbursed it was observed that he had taken a loan of a few lakhs from a private bank just a week ago. The person had invested none of his own money into the house and had planned to live fully on borrowed terms. Such cases can create a huge problem for the entire lending and borrowing system of banking which eventually can lead to NPAs besides landing customers themselves in repayment problems.

It is true that we all dream to live in our own houses, but one has to prudently plan for such investments. First of all the home loan budget has to be calculated based on the investable surplus of an individual. The next step will be to decide on the affordability. The current surplus will give clarity of such affordability. Additionally one can also add the value of current assets by jotting down a few aspects such as:...

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When interest rates vary
Source : The Hindu Published On : 2012-01-21 City : Mysore

When Interest Rates Vary…

If loan were obtained at fixed rates, there would be no change in the EMIs throughout the loan tenure. Since home loan repayments stretch up to 20-25 years, lenders normally push variable (floating) interest rate schemes or at the maximum, offer fixed rate for a term of, say, five years. Hence, more than 90 per cent of existing home loans are at variable interest rate schemes.

When Interest Rate Comes Down

Anand has a home loan of Rs. 25 lakh at 10 per cent for a tenure of 20 years (240 months) and the EMI is Rs. 24,126. If after two years, the interest rate is reduced to nine per cent, the EMI works out to Rs. 22,596 for the balance 18 years' tenure. In such a case, since post-dated cheques (or standing instructions/electronic clearance system mandate) are taken in advance for EMIs of Rs. 24,126, normally the lender will continue to collect old EMIs. The difference between the old EMI and new EMI (Rs. 24,126 - Rs. 22,596 = Rs. 1,530) will be adjusted towards extra loan recovery (principal amount) or prepayment amount....

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Planning in detail is vital before obtaining a home loan
Source : The Hindu Published On : 2012-01-28 City : Chennai

Planning in Detail is Vital Before Obtaining a Home Loan

Banks and HFCs are increasingly getting strict with their customers, insisting that they obtain a “clean chit” from CIBIL (Credit Information Bureau (India) Ltd.) proving their credit history because, in their quest to own a house many people resort to all kinds of activities which can land them in trouble eventually.


Bhaktavalsalan, AGM, Can Fin Homes Ltd. Jayanagar Branch, Bangalore (a housing finance company) narrated a recent customer's case who had applied for a home loan. A prospective borrower had applied for a loan submitting relevant documents. Since his case seemed genuine he was given an ‘in-principle' sanction letter. But when his credit credentials were verified with CIBIL before the loan was to be disbursed it was observed that he had taken a loan of a few lakhs from a private bank just a week ago. The person had invested none of his own money into the house and had planned to live fully on borrowed terms....

  Read More
 
     

 

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