Rent to Buy or Vendor Terms Homes Safe or Just a Misunderstood Opportunity

It takes a great deal to make the biggest investment of life, Investment in Home. Surfing through the net, looking for dealers and brokers and then the expenses, these are the few steps involved in buying a home in India. and if you talk about buying gurgaon property, or any where in NCR ... who got to have lot of courage for that.

What sort of property are you looking for? Is the dealer free from fraud? Are you making the right decision? Is it worth paying so much? Lot of questions strikes your mind.

In Australia, they have this Vendor Finance Association of Australia who takes care of all these. They provide you with trained and qualified expert who assures you that you are dealing with the right person and morals and ethics would be taken care of throughout the deal. These VFA members are not financial agents or real estate agents. They are simply members qualified to work with the owner of the property being sold.

You can be assured that these VFA members would work for your needs and help you to come to terms in negotiation to purchase your house with a low deposit and no bank loan. In other words, these VFAs help to realize your dreams. In any case, the realty world hates these VFAs as they curb their huge commissions and one can even save the large sum of bank interest.

This isn’t a new concept. Infact, around 30 years back, properties were sold through lawyers and not the real estate agents. The buyer would enter the property, based on the contract and trust, beginning to pay down the existing mortgage, with mutual consent of the owner under a contract. An agreed amount of rent would be agreed upon, based on the market value, which may not necessarily cover the bank interest rates.

property in gurgaon and the EDC ...

When we talk about properties in Gurgaon, lot of questions engross our minds, especially with the HUDA and the rules and guidelines. The high flying prices of properties in Gurgaon are becoming too much to bear, both for the property dealers and the buyers as well.

Keeping these facts in mind, the Haryana Urban Development Authority announced on last Wednesday that from now onwards the EDC charges for plotted development would be Rs. 58.76 lacs per acre and for normal group housing societies would be Rs. 176.28 lacs per acre.

The private developers in Gurgaon had demanded to reduce the EDC charges, which otherwise would have rendered their projects too expensive and the mechanism would work against the buyers. These new rates would be made applicable retrospectively from the year 2009 up till the year 2012 and the EDC would increase at the rate of 10% per year on a compound basis. It was further added that the builders do inform their buyers about the price hike and the new interest rates levied, but not about any form of refunds, due to which the large sum of money to be refunded to the builders and developers would never reach to the end users who actually pays and suffers.

property in gurgaon and the EDC ...

When we talk about properties in Gurgaon, lot of questions engross our minds, especially with the HUDA and the rules and guidelines. The high flying prices of properties in Gurgaon are becoming too much to bear, both for the property dealers and the buyers as well.

Keeping these facts in mind, the Haryana Urban Development Authority announced on last Wednesday that from now onwards the EDC charges for plotted development would be Rs. 58.76 lacs per acre and for normal group housing societies would be Rs. 176.28 lacs per acre.

The private developers in Gurgaon had demanded to reduce the EDC charges, which otherwise would have rendered their projects too expensive and the mechanism would work against the buyers. These new rates would be made applicable retrospectively from the year 2009 up till the year 2012 and the EDC would increase at the rate of 10% per year on a compound basis. It was further added that the builders do inform their buyers about the price hike and the new interest rates levied, but not about any form of refunds, due to which the large sum of money to be refunded to the builders and developers would never reach to the end users who actually pays and suffers.

Things to Be Careful of When Buying an Apartment

Think of something which forms a crucial part of human life and yet you cannot get it in just any store nearby... something which is next to water for human survival..... Something no can do without..... something which, in spite of being so crucial, is not natural.... something which is not available at a cost like Re.1 per glass.....Have you ever thought of a poor man's family under an open roof beside the road and the kind of life they lead??

A place to live in is what we are talking about. An APARTMENT is what we are talking about. For today's fast moving world, a place to live in comes right after water in the list of human survival and yet, it is so very expensive these days. Everybody needs a home and everybody thrives for it. But for those who are able to afford an apartment, owning an apartment is not like a cake walk.

Smart investors always prefer to think a lot and often retrospect or look into the experiences of people who have already invested in an apartment, especially after the incident that formed a cause of recession recently. As it is a lifelong investment and to avoid crying over spilled, let us all think about the point we all should be careful of while buying an apartment.

FLOOR AREA

This is extremely important. Since you are always sure about the approximate number of people who would be living in the apartment, and the visitors as well, you should have an estimate of the scale that would be required for you to live in. It makes no sense to invest in an apartment with three rooms where only you have to live alone with the least number of or no visitors. You should be sure about the number of bathrooms, rooms, balcony, kitchen, etc.

Rules of the society

It is always good to know about the rules of the society where you plan to buy an apartment. Get to know about whether you are allowed to keep pets and plants. Get to know if loud volume of music would be allowed, if late night parties would disturb the society environment.

Key Features of the apartment

Listen to the owner when they talk about the electricity, water supply, accessibility, neighborhood, and other differentiating factors and make sure you keep them in mind while making your final decision. Prior to everything, you must be very sure of your basic purpose of buying the house. Have a check on the activities around and see to it that the area is at least comparatively safe enough to reside.

Value for money

Before investing into just any property, evaluate your own budget. Get to know about the price of the apartment and the other apartments nearby. Check out whether it is worth paying the amount that the owner is asking for. Think of anything you would want in your appartment and ask about it.

Registration and other legal formalities

Legal formalities like the stamp duty, property registration, etc should all be completed at an early stage, before the sale of the apartment. The laws pertaining to the property ownership, like Transfer of Property Act 1882, Indian Stamp Act 1899, Income Tax Act 1961, Indian Registration Act 1908 should all be complied with.

What You Should Know About Land Contracts

land contracts were very popular during the early 1980s when installment sale contracts, also known as contract for deed, offered more attractive financing terms over the higher interest rates and the rigid qualification standards of the institutional lenders.Land contracts began to disappear when the loan requirements began to soften and the interest rates dropped below 8%. Inspite of the decreased requirements and fallen interest, land contracts have not vanished completely, or we can say that they have made a riposte in 2006.

Over the past few years, Gurgaon has experienced a sudden increase in the demand for residential as well as commercial properties and the credit for this boom in the real estate sector goes to the booming economies of IT/ITES sector.As the number of corporate executives and professionals are increasing day by day, the search for property on rent has also reached at the summit. The residential property in Gurgaon is vibrant and positive in nature and Haryana is popularly known for its commercial capital and the software industries. The increased foreign direct investment, large influx of quality manpower and low interest rates has lead to an increase in the developmental activities like corporate retail space, residential and commercial space.

The First Sale.......

I still the day we got our first sale. we had just started operation and amongst the mob of criticizers and appreciators, we got a call from one of our executive informing that he got our First Sale. the admin, the MD the entire office was excited to know about it. We were all overwhelmed at the performance and we were thrown a party by our MD. Since then, CSF has never looked back. continuous improvement, learning form others mistakes and striving to be better than the best had been our motto ......

Ascendancy of Living In An Apartment

Populations in urban areas prefer to live an independent life with no interference from anybody. Youth and especially the working class prefer to have their freedom and peace of mind after they come back from office, whether they work in night shifts or day shifts. The concept of apartment has evolved and thrived for the fact that people wish to spend time in place free from congestion, a place that relieves them off the stress of their normal life, whether school, college, b-school or office.

Those who are working and are living with families prefer an apartment with all possible facilities available. These facilities could be parking space, swimming pool, 24*7 electricity supply, 24*7 water supply, security systems and guards, garden, mini restaurant, café, etc, since such investment are usually made for a long term. Keeping all the above mentioned points aside, the most important one remains cost effectiveness. People usually have a budget planned in their minds before opting for an apartment. Not too large apartment are more in demand these days as no one has the time to clean a big house and it also saves energy spent on cleaning and moving around form one cabinet to another.

Last point seems to be too much in vogue these. Ready-to-move-in apartment is in great demand as people from different regions move to some areas for education, jobs and similar reasons and they do not want to invest money in furniture and other things, therefore, they prefer such apartments where they can move in with their bag and move out any time as when required.Having seen the rosy side of the picture, let us evaluate the other side of the coin, the disadvantages of an apartment.Having a dream to rent or own an apartment is easy but to convert the dream into realty incorporates a lot of precautions and raises number of concerns.so it is good time to invest on Property in Delhi-NCR now.

Residing in an apartment in a society means you have to abide by the rules and regulations of the society management. You cannot play loud music. You might not be allowed to keep a pet in your house. You might be prohibited from planting. Some societies even prohibit entry of even residents late night. When you are sharing the same roof with your neighbors you have to make lot compromises in order to accommodate everyone’s preference in a society.

Residing in an apartment puts an end to your social life. These days people are hardly aware of who their neighbor are. Some people are of the opinion that we do not have the time to socialize with our neighbors at all. Rest say that it’s very difficult to ask for help in times of need as one’s even aware of the person who next door.Another very important fact that comes to mind is that the cost of maintainence and services charges for apartments is too high these days. Individual do expect a luxurious life but one can do away with it when it comes to over budget expenses. But the society maintenance cost and service charges are fixed and unavoidable.

The most important point form an investor’s point of view is that the valve of an apartment in long term is lesser than that of buying a house. Apartment’s value might decrease or remain the same with time but the land value is deemed to go higher and higher, with the support extended by the union government.Having discussed the pros and cons of an apartment, let us now have an insight into the prerequisites of an apartment.