Month: August 2022

Is the time to finally retire in life approaching you? So what’s the plan for cherishing retirement life? Fulfill the dream of owning a Flat in Kolkata? A dream that’s been overshadowed by liabilities & responsibilities till now?

While this wish of yours is most delightful, get aware of one aspect. It’s your retirement fund, the money earned by working hard throughout life, you will be investing.

Therefore, making the move in a conscious manner is of utmost importance – ensuring no waste but the best usage of your lifetime’s income.

How to get conscious? Well, to offer you real-time moral support, here emerges a:

Pro Guidance For Senior Home Buyers

Each tip is tried, tested & proved!

#1 Opt For Lower LTV

To state most practically, a 60+ individual pursuing a home loan gets a quite short repayment tenure (10-15 years), considering the maximum age eligibility being 70(for applying) to 75 (for repayment) in banks & reputed financial organizations.

A shorter repayment period also spontaneously increases the EMI size.

But, you can surely deal with this situation tactically, by –

⁌ Going for a decreased loan-to-value (LTV) ratio. The standard range is 75% to 90% of a property’s price; try adhering to the beginning yardstick by making as much of a higher down payment as possible.

⁌ A lower LTV ratio means lesser EMI obligation, and it also strengthens your chance of getting quick loan approval from any & every lending organization.

#2 Commit Add-On Collaterals

A true smart move to make for enhancing your eligibility as a senior home loan pursuer. As per one famous senior home buying assistance executive:

⁌ Retirees can mortgage own high-value collaterals like equity shares & mutual funds to the lending bank or financial body for doubling up the approval amount.

⁌ This hack also reduces the lender’s risk & quickens, in effect, the approval process.

#3 Include A Co-Applicant

Along with a short repayment tenure, a pensioner or senior person with no fixed monthly income may not meet the income criteria a lender requires.

One perfect hack to resolve both these issues is that of having a co-applicant while applying for a home loan. Note that-

➼ An earning co-applicant, who is also a family member (spouse or child) improves your possibility of gaining a much higher loan amount

➼ And availing tax deduction on principal and interest amount – as per Sections 80C & 24

If the family’s decision will matter in finalizing the home to buy, why not involve it into the buying process? Give it a thought.

#4 Select Most Carefully

While age is indeed just a number & no obstacle to cherishing life in the way you wish for, there come up certain matters for consideration, when post 60, you proceed to purchase an apartment/house.

Are there healthcare facilities nearby? Do the home delivery services function in the locality? How good is the location’s transport infrastructure? Is the area calm & quaint with good-enough greenery around?

Check all these criteria while exploring the Flats in Kolkata & pick the one fulfilling them. To thus relish a smooth retired life at your desired home.

Also, when moving into a housing society, make sure it is equipped with an up-to-date security system & 24*7 electricity & generator facilities.

Anything else? Endeavor for an apartment with a planned interior featuring compactly designed spaces & rooms – to thus let no senior citizen experience the malady of a cluttered home.

#5 Prepare Thoroughly

In the opinion of 1 veteran conductor of senior citizen home buying program, 60+ home buyers need to maintain a strong financial ground more than any other age group, to thereby be as much of eligible as possible for their required home loan.

Some effective tips in doing so remain:

➼Closing any other loan prior to applying for a home loan

➼ Not utilizing more than 30% of the monthly credit card limit for 6 months before the loan application

➼ Keeping a credit score within the 600-700 mark

➼ Pledging to EMIs not exceeding 50% & not lower than 40% of your pension or retirement allowance. EMI affordability, especially in the case of senior citizens, is one of the crucial determining factors for a home loan lender.

In addition, make the most in-depth research about senior home buying schemes & interest rates available in the present market.

Is the plan now appearing clear-cut to you? Why delay executing it?

As for exploring Flats in Kolkata & possessing the best one for you, simply connect with Team Realtech.

We commit to catering apartments suited to senior citizens’ needs – to the limit possible.

Call us on your time.

Buying just that apartment in Kolkata you have always craved for, fetches the happiness of a lifetime. And simultaneously:

‣ You succeed in making one foolproof investment for own life & generations to come

‣ Your net worth gets boosted by around 40% in the global financial market

Some concrete facts & figures will make such statements more convincing for you, the prospective home buyer? Then right in here arrives –

An Extensive Analysis of Home as Investment

Approved by Expert Realtors Only

# 1 Safe & Sound

The world considers real estate as one secured sector to invest.

As for our country, it is the most growing field of commerce – predicted to reach a value of $1trillion by 2030. With around 30% growth rate over the next decade.

So, no matter when you buy, your home becomes a sound asset for the future, along with being the perfect place for your family to expand & thrive.

Devoid of the stock market’s uncertainty & need for expertise (for investing), India’s real estate industry is & will continue to be any investor’s logical option – guaranteeing ROI, with 99% certainty in the long run.

Even when the economic boom is at its end, real estate property would still yield good returns.

#2 Best Channelization Of Hard Earned Money

As per one veteran U.S investor, home as investment is always a better expenditure in comparison to spending money on recreational equipment, electronic gadgets & automobiles.

The first is an asset with a constantly rising appreciation value, while the rest bring back to you nothing much– except for depreciating over time.

Although post buying, homeowners still have recurring costs like property taxes and maintenance, they also gain some prime benefits such as equity and the ability to leverage this asset in several ways, such as renting out space (if willing), getting a home equity loan whenever needing, starting a business without downsizing into a less expensive house and pocketing the profit.

Moreover, actualizing a home purchase with a loan brings you into a habit of continuously saving for the future by continually putting money aside for the EMIs.

#3 Savior Of Income Tax

The reason buying any of the trending Apartments in Kolkata can turn into a true blessing for you.

When investment is made in real estate via taking a home loan, certain tax benefits become available for the buyer.

For first-time homebuyers, under U/S 80C:

‣ Deduction on principal component – up to a maximum of 1.5 lakhs

And under U/S 24:

‣ Interest paid against home loan turns legible for tax deduction (Maximum of 2.0 Lakhs)

Even for second home buyers-

‣ If the interest is 3.0 lakhs, then the complete amount is eligible for deduction under U/S 24.

#4 Protection Against Inflation

The favorite logic of pro investors buying homes.

According to them, by being a value appreciation asset & medium of rental income, a house certainly beats inflation & at any time.

There is no other investment that can beat inflation as consistently as real estate property.

Actually, it turns unfair to consider real estate as only an inflation hedge.

If invested properly, returns from real estate property outgrow inflation by thousands.

Feeling convinced? Then why wait to make the move?

Drop a call to Team Realtech & invest in just the Kolkata apartment you wish for.

Waiting to serve you.

Has working hard finally borne the fruit of financial prosperity in your life? And so you are in the thought of possessing a luxurious apartment in Newtown?

Well, while most welcoming is this move of yours, here emerges one point:

‣ Buying a posh home equals investing a well-enough proportion of your hard-earned money, right? And you surely, therefore, wish this to be the best possible deal, isn’t so?

A loud ‘Yes’ you are voicing out? Then, wait no more to gain awareness about –

4 Pro Tips On New Apartment’s Quality Check

& Experience An Ultimate Return On Your Investment

#1 Both Convenience & Comfort

Endeavoring for a luxury home buy makes you a High Net-Worth Individual or HNI in the real estate market. Thereby hesitate not to emphasize key criteria – the primary being Location.

As per expert realtors’ opinion, a deluxe apartment should preferably be, adjacent to or within a well-developed infrastructure – promising proximity to reputed academic institutions, corporate hubs & health facilities.

Its residents must find it easy to connect around the city’s length & breadth & quickly access important points of commutation like airport, bus depots, metro station, etc.

Moreover, as a factor of comfort, luxury apartment owners must have access to shopping malls, cafes & bistros, zero noise pollution & traffic congestion.

(Newtown so very much fulfills all these factors, doesn’t it?)

An apt balance between convenience & enhanced living environment goes to define real-time luxury.

#2 A Builder Of Repute Only

A must-point to consider as you search for new luxury apartments near me.

For always remember, it’s your money that’s on play & you are the prime responsible one for making its spending worth.

Before finally selecting a real estate firm, try finding out, as many as possible details about it.

Attempt to know the level of trustworthiness of the builder amongst customers & browse through their previous projects, to thus gain an idea about the quality, the firm can deliver.

Forget not, as well to inspect Google reviews or get feedback from peers about the builder’s reputation on-

‣ Timely project hand-over

‣ Allegiance with legal proceedings & documentation

‣ Actual delivery of the amenities promised

‣ Assistance & behavior with clients throughout the buying journey

‣ Fulfillment of encumbrance protocols

#3 Quality Will Matter Surely

As an HNI planning to possess a high-end flat, you must have the affirmation that-

The project is constructed with quality materials & meets the standards of:

⦿ Earthquake Resistance

⦿ Fire-resistant Aluminum Sliding Windows

⦿ RCC Frame Structure

⦿ Vitrified Tiling & Floors

⦿ Carpet Area & other Space specifications

⦿ An abundance of Natural Lighting and Ventilation across the apartment

To thus let you & family cherish a wholesome & happy living.

#4 About The Amenities

Facilities at a deluxe housing complex must be extensive without a doubt. Thereby, while shortlisting developer houses with regards to your pursuit of lux & spacious apartments near me, go for communication with the firm that essentially caters:

◘ 24*7 Wi-fi

◘ Up-to-date security framework involving digital & physical resources

◘ Well-designed parking space

◘ Infinity-edged swimming pool & state-of-art spa

◘ Landscaped garden & open green space

◘ Children’s Play Area

◘ Trendy Gymnasium & Separate Jogging Track

& other amenities that make living joyful!

And yes, following lifestyle trends, finalize the builder, who is offering all such perks – on the rooftop.

 # 5 Efficiency Over Energy

At your posh home, lighting, air conditioning, and all electronic facilities must run smoothly. So, ask the builder about alternate power arrangements at the project in case of power cuts.

This is a trend catching on in cities suffering from long power cuts and results in cheaper electric bills in long run.

Noting down the points? Surely then progressing with the purchase will be your next step?

Team Realtech stays committed to aiding you with any & every query about deluxe apartments in Newtown.

Connect whenever convenient.

How will you define own dream Flat in Kolkata?

A home where you & every family member can live happily & with convenience? Whose location ensures easy connection to every corner of the city? And is situated within a quaint-but-reputed neighborhood?

Well, each of these criteria can be fulfilled, only if you focus upon

5 Essential Aspects Prior to Purchasing Own Dream Apartment

Highlighted by veteran realtors of India only

# 1 Plan Thinking Future-Wise

Surely in own dream home, you desire to settle down for life. And as life will progress new relations & necessities will get added to its fabric.

Therefore, while exploring apartments, factor in the space you’ll need not only presently, but also in the upcoming future.

Make sure to not select a house that appears sufficient for the present, but will fall short if the family expands, or need to set up a home office/study corner arrives.

Pay good-enough attention to things in life & family that are going to change in nearest future & shortlist apartments complementing the necessities arising from those changes.

#2 Prioritize Own Priorities

A significant task to endeavor upon.

While beginning the search for a dream apartment, make sure to enlist 3 prime features, which you & all in the family consider indispensable in their own home.

Location/Neighborhood/South-Facing Balcony/Secured Playground/Parking Space/24*7 Electricity/Ample of Open & Green Space– conduct rounds of family discussions to filter out which 3 features you all acknowledge as fundamental.

Also, be sure to differentiate between preferences and needs on that list.

For example, you may like open kitchens, but an alternative can surely be considered in your new home, right? Likewise, if children will be staying alone in the apartment, while you are at work, the factor of security simply can’t be overlooked.

Therefore, swap over expectations and focus on the things that matter the most to experience dream living at the dream abode.

#3 The Layout Factor

What’s the gain if you find your dream apartment in an all-cluttered state within months of living there?

Thereby, when approaching to buy a home look out for the storage layout in it. The flat must have abundant storage space along with the possibility of adding more to the layout. Give preference to homes with walk-in closets & in-built lofts & shelves.

Remember, the more the planned storage, the tidier your house will stay always.

#4 Fool Proof Own Finance

Another highly significant point for each dream home buyer.

In accordance with pro home loan executives, prospective apartment hunters should have 10-20% of the property’s overall cost as readymade cash to forward as a down payment.

They highly opine on not taking a loan or mortgage to arrange for your down payment amount.

Also, try to opt for a home loan, where the EMI does not exceed 25% of your monthly budget &

‣ Once begins the journey of EMI, endeavor, as a family goal, to minimize expenditure, stick to only the needs & emergencies & check on unnecessary consumption.

#5 Stress Upon Transparency

To thus have one smoothest home buying & possessing journey. Elect a real estate house that follows all the legal protocols of property selling & is reputed among customers for offering transparent deals.

Check whether a builder’s project–

⁌ Is approved by government banks & well-known finance companies

⁌ Retains NOCs from water supply and sewage boards, electricity and Municipal corporations.

And prior to taking possession:

‣ Ensure that you receive the Occupancy Certificate

‣ The Sales Deed clearly states every specification of the property purchased, your name & PAN I.D, & clauses of amenities provided.

Feeling enlightened? Now take the next best step of connecting with Team Realtech & exploring state-of-art Flats in Kolkata complete with every possible urban facility.

Ring us whenever you are ready!