Estate Meet

On 14th of  May 2020 Union finance minister Nirmala Sitharaman’s decision to extend the Centre’s Credit Linked Subsidy Scheme (CLSS) till March 31, 2021. The PMAY CLSS was launched with the objective of ‘Housing for All’ wherein eligible borrower is able to get a home loan from banks and housing finance companies at a subsided interest rate. The last date for anyone wishing to avail the PMAY CLSS scheme was March 31, 2020 but now stands at March 31, 2021. The date has been extended for both MIG-I and MIG-II categories.  The other category of LIG/EWS, however, has its last date of March 31, 2022. Those with income between Rs 6 lakh and Rs 12 lakh fall under MIG-I and get an interest subsidy of 4 per cent on a loan amount up to Rs.9 lakh. Similarly, those with income between Rs 12 lakh and Rs 18 lakh fall under MIG-II and get an interest subsidy of 3 per cent on a loan amount up to Rs.9 lakh. The move is also expected to increase jobs in the sector, and push demand for construction mater

Today's our Blog is related to answering the common question running in minds of common people regarding real estate. Whether Corona situation will affect the prices of real estate property?  Is it right time to buy a property?             Generally whether to invest/buy property or not is individual decision of a person depending on their goals and needs. Then too, here I will give you some Current updates which will help you to take right decision. Guys as we all know, after agriculture real estate is second most sector which contributes to the economy of our country, so the government is also taking some steps to boost the real estate industry. One of its example is reduction of Repo rates from 5.15% to 4.40% by RBI on 27th March 2020.This 0.75% reduction in repo rate which is major percentage reduction in last 20 years.This will help in reduction of home loan interest rates. I will explain this by taking simple example so that you will get exact picture of benefit. Let

Runwal the Central Park | Project in Chinchwad Pune: Runwal Group  Established in 1978, the Runwal Group is one of Mumbai’s premier real estate developers, operating in  the residential, commercial and organised retail verticals. With a robust track record of 51 delivered projects, with about 20,000 families living happily, the Group has continuously striven to keep the customer as a focal point in the designing, planning and  construction of all its projects.  Today, the Group’s steadfast focus on quality has led it to become an industry leader and a  market-driven construction company, renowned for trust and quality, along with on-time delivery. Runwal Group'S The Central Park :  Codename New Beginnings is a residential cluster of the most thoughtfully  designed 2, 3 and 4 BHK homes in Pune. Every apartment has been  optimally planned to effectively utilise every square inch of your home. The community consists of approximately 11* towers

Revision of Project Registration Validity and Extended Timeline for Statutory Compliances, in view of Covid 19 Pandemic.  Whereas, Globally, countries and governments are struggling to cope with health and economic crisis caused by sudden outbreak and rapid spread of Novel Coronavirus (COVID-19). Whereas, World Health Organization (WHO), On 11th March 2020, declared Novel Coronavirus (COVID-19) as a pandemic and called for the countries to take immediate actions to save human lives. Whereas, Since Mid-March 2020, Maharashtra Government by way of precaution and to stop this contagious virus from further spreading has been declaring controlled lockdowns, in the manner that partial workforce has been able to attend work / construction sites. Further, from 24th March 2020, a complete lockdown of the entire country for Twenty-One days (i.e. until 14.04.2020) has been declared, allowing only operation of select essential services. In view of these partial lockdowns / recent c

To maintain economy and Real Estate Sector, the  Reserve Bank of India  (RBI) governor,  Shaktikanta Das   announced rate cuts in Repo Rate to stave off a corona-virus-related recession on 27/03/2020. This might soothe the nerves of equity investors and reduce EMIs for Home Buyers . The RBI, cut the  repo rate  and reserve repo rate by 0.75 % and 0.90 %, respectively . The repo rate now stands at 4.4 per cent and reserve repo rate at 4 per cent. Here is a look at how today's rate cut will give benefit to Home Buyers Benefit  of the rate cut on Home Buyers The unexpected rate cut is likely to reduce equated monthly installments (EMIs) of borrowers, and also make it cheaper to take new loans . Here's an example of how your home loan is likely to be impacted under the new external benchmark regime.  If any Male Salaried buyer takes 30,00,000 Rs  Home Loan for tenure of  20 years, then as per current rates he has to pay EMI of 24,999 but now onward  he h

Many of you having question now a days that carona will affect the market and mainly Real Estate?        The answer is absolutely not! The reason behind this is, though the carona is affecting over all market temporary.        If we think over this deeply we will come to know that customers of every industry are not coming from last few weeks.But main thing is that they are definitely going to come after carona viral gets controlled.        We will try to study over this topic by taking some examples and cases : Due to carona situation customers are not going out to buy clothes,  groceries , visit salons etc. from last few days but it doesn't mean that the vendors have loss some amount or it's down in their field. Because same consumer base is going come back to them once the carona situation gets all clear. In case of real estate also, people want to buy  homes as it's March and festivals. But due to current situation people are avoiding to go out, which is good p

With many banks failing, in the current scenario, many people feel that it may not be wise to keep hard earned money in Banks. Stock Markets and other forms of Financial Investments are also losing their valuations & hence their charm among investors off-late! So, what’s the best option in the current situation? INVEST IN REAL-ESTATE! 1. It is a 'physical asset' and the Property is accessible, 24 x 7: No sudden closure of the building gate (like Banks nowadays) 2. The property doesn't shrink in size: Physical assets cannot vanish or reduce in size - whereas, in case of Bank accounts, RBI secures only small amount of your bank balance and deposits. 3. No Limit on withdrawals: You can sell any time , and get your entire money out - yes, it may take time to sell , but eventually every property sells! 4. You will earn rental income: Put the property on Rent and earn between 2.5 - 8% rental returns. Most savvy investors are investi

Today i.e. on 06 March 2020 State Government Announced The Budget And Has Given Good News To Property Buyers. Maharashtra Finance Minister Mr. Ajit Pawar Has Announced Tax Concession Proposals, Including 1% Stamp Duty Concession For The Next Two Years In The Areas Falling Under The Mumbai Metropolitan Region Development Authority (MMRDA) And Municipal Corporations Of   Pune , Pimpri Chinchwad And Nagpur. Currently Stamp Duty Is 7 % So After Concession Of 1 % It Will Be 6%.

In previous Budget, the government has announced an additional deduction of Rs 1.50 lakh on  home loan  interest component for  units priced up to Rs 45 lakh . This was over and above the Rs 2 lakh deduction offered under Section 24 of the Income Tax Act. This benefit, which was earlier available on loans borrowed till 2020, has now been extended till March 2021. Do note here that the Budget has also extended the tax holiday it offered to developers of affordable projects by a year. “In order to boost the supply of affordable houses in the country, a tax holiday is provided on the profits earned by developers of affordable housing projects approved by March 2020. To promote the affordable housing projects, I propose to extend the date of approval of affordable housing projects for availing this tax holiday by one more year. Change in capital gains treatment “If the consideration value is less than the circle rate by more than  5 %  , the difference is counted as i