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THINGS TO KEEP IN MIND BEFORE BUYING A FLAT
Since there are multiple check-lists floating around on the internet on buying flats in India, this blog post helps you to check all the essential points to buy a perfect flat with no risk. Lets’ check out all these points:
Check the Approval & Licenses:
Always check the builder’s paperwork ranging from commencement certificate for work, environmental clearance and approved building plans and other agreements like Title Deed, Release Certificate, Property Tax Receipts etc.
Check the Infrastructure Plans:
Metro connectivity or any other big infrastructure development in future linked to the location of the property you intend to purchase can boost the return on investment tremendously. Also, ensure that the property is not close to any polluting industry.
GET MORE RELIEF FROM ICICI BANK ON HOME LOAN
The revised interest rate, the lowest in 10 years by ICICI Bank, is effective from 5th March 2021.
ICICI Bank today announced that it has reduced the home loan interest rate to 6.70%. The revised interest rate, the lowest in 10 years by the Bank, is effected from today, 5 March 2021. Customers can avail of this interest rate for home loans up to ₹75 lakh. For loans above ₹75 lakh, interest rates are pegged at 6.75% onwards. These revised rates will be available till 31 March 2021.
Homebuyers, including those who are not customers of the Bank, can apply for home loans digitally, in a hassle-free manner through the Bank’s website and mobile banking platform, ‘iMobile Pay’. They can also experience a convenient digitized experience at their nearest ICICI Bank branch. They can also receive the instant sanction of their loan digitally.
Ravi Narayanan, Head- Secured Assets, ICICI Bank said, “We see a resurgence in demand from consumers, who want to buy homes for their own consumption, in the past few months. We believe that this is an opportune time for an individual to buy his/her dream home, considering the prevailing low-interest rates. We believe that with our completely digitised home loan process including instant sanction for customers of any bank, everybody will find it immensely convenient to avail a home loan with us.”
BUY YOUR DREAM HOUSE WITH AFFORDABLE HOUSING SCHEME – UNION BUDGET 2021
On 2nd February 2021, the Hon’ble Finance Minister Nirmala Sitharaman Presented Union Budget 2021 in the Parliament. According to experts, this budget boosts infrastructure and economic growth. However, this budget also focused on a mission of providing a House for everyone that is Affordable Housing Scheme.
Our Hon’ble Finance Minister Nirmala Sitharaman said that “This Government sees ‘Housing for All’ and affordable housing as priority areas. In the July 2019 Budget, I provided an additional deduction of interest, amounting to Rs 1.5 lakh, for a loan taken to purchase an affordable house. I propose to extend the eligibility of this deduction by one more year, to 31st March 2022,”
So that means this govt. is focused on “Housing for All” and the benefits of Rs1.5 lakh on an interest which was introduced in the 2019 budget and also this is applicable only for those who buy a home for the first time and the value of the property should not more than 45 lakh, is now extended till March 2022.
This exceptional move by the government will boost the affordable housing scheme and help to achieve to PM vision “Housing for All” and also with the intend of more homebuyers will get these benefits.