While taking a home loan the only factor that has an all-encompassing impact is the interest rates charged by banks. However, individual requirements differ and one-size-fits-all theory may not apply to all home buyers and home loan seekers. Here is what you should consider before taking a home loan when buying a property in India: Loan amount Generally, banks and financial institutions offer loans of...

RERA stands for Real Estate Regulatory Authority established as per Real Estate (Regulation and Development) Act, in 2016 to protect home buyers and to boost real estate investments. The RERA act was effective on and from May 1st 2016 where the bill was passed by Rajya Sabha on March 10th and then by Lok Sabha on March 15th in the same year. On October 31st the govt through HUPA (Housing & Urban...

Banks and housing finance companies (HFCs) have been able to offer home loans at rates starting from 6.75-6.9 percent a year. Existing home loan borrowers servicing their home loans at much higher interest rates may consider home loan transfer to other lenders at lower interest rates and/or better service terms. However, the decision of existing home loan transfer to another lender has to be a...

In Chennai, you can pay your property tax or ‘sotthu vari’ online and offline. The due date for payment of the tax is September 31 and March 31 every year. Read on, to know the process How to pay property tax online in Chennai Property tax is one of the major sources of income for the government. Every state government and corporation has the responsibility to decide these rates. In Tamil Nadu,...

What is channel partners? A channel partner can be defined as a company that partners with a manufacturer or vendor to market and sell the manufacturer’s/vendor’s products, services, or technologies. This is usually done through a co-branding relationship. Channel partners may be distributors, vendors, retailers, consultants, technology deployment consultancies, and other such organisations.The...

Buying property in an auction can save you a lot because These are basically mortgaged properties of defaulters and the bank is auctioning them to recover the dues. When a bank auctions properties, it generally garners huge interest as these properties are believed to be auctioned at a lower price. Another advantage could be getting the property at a place where no new supply is likely to come in....

What are your rights when you rent a house? What can a landlord do when faced with unruly tenants? Renting is a tricky task, one that leaves renters and landlords feeling equally frustrated many times. But a good understanding of the Model Tenancy Act (MTA) can help you know the rights of tenants and landlords well. Introduced in 2019 by the Ministry of Housing and Urban Affairs, the MTA aims to...

A home loan is a long haul obligation, considering the fact that its repayment might stretch up to 30 years. This loan helps you own a house along with availing tax benefits; however, it also impacts your present and future finances. Therefore, you should pay off the loan as soon as possible by carefully managing related factors like repayment tenure and monthly instalments. If you plan to foreclose...

This is the time one should consider switching his home loan to a PSU bank to avail of the benefits of lower home loan rate.  Home loan rates have fallen to as low as 6.7% as public sector banks have mostly passed on the repo rate cut announced by the Reserve Bank of India over the last four months. PSU banks including the State Bank of India are now charging between 6.7-7% interest rate on new...

The first step while considering the purchase of a property, the buyer has to ensure that the legal title of the property is clear – Encumbrance certificate says whether there is any lien/charge on the property, or if there are other owners/claimants to the property other than the seller, if the property has been mortgaged or if there is an existing housing loan against the property or if the property...