- Friday, August 18, 2017

Dos and don’ts for sharing a rented house

Sharing a rented house has become a common practice, wherein, two to four people (depending on the number of bedrooms available in the property) live together. There are several obvious advantages of following this … READ FULL STORY The post Dos and don’ts for sharing a rented house appeared first on Housing News.

- Wednesday, August 16, 2017

Have a let-out property and need money? Take a loan against rentals

Almost all the public sector and private banks, offer loans against future rentals. With this facility, home owners can avail of a line of credit, on the basis of future rentals for their house … READ FULL STORY The post Have a let-out property and need money? Take a loan against rentals appeared first on Housing News.

- Monday, August 14, 2017

Home financing options for NRI buyers

When a non-resident Indian (NRI) opts to purchase a property in India, there are several regulations that govern how such a purchase can be financed.   Sources, for financing a real estate investment in … READ FULL STORY The post Home financing options for NRI buyers appeared first on Housing News.

- Tuesday, August 08, 2017

Home loan and tax benefits if you own multiple homes

People are generally under the impression that one can own any number of properties but one cannot take more than one home loan at a time. This is not true. As there is no … READ FULL STORY The post Home loan and tax benefits if you own multiple homes appeared first on Housing News.

- Wednesday, August 02, 2017

How to improve your credit score before applying for a home loan

It is advisable for home loan seekers to obtain a credit report, before applying for a large loan, such as a home loan. This report, which provides a person’s credit score, can be obtained … READ FULL STORY The post How to improve your credit score before applying for a home loan appeared first on Housing News.

- Saturday, July 29, 2017

How to use your provident fund to finance a home purchase

For purchase of a house or plot or for construction of a house Under the Provident Fund scheme, an employee can withdraw money from his provident fund, after completion of contribution of five years, … READ FULL STORY The post How to use your provident fund to finance a home purchase appeared first on Housing News.

- Thursday, July 27, 2017

Reverse mortgage: What are the tax liabilities

Under the Reverse Mortgage Scheme (RMS), a senior citizen can opt to receive an additional source of income on the security of an owned residential house, without having to service it during his lifetime. … READ FULL STORY The post Reverse mortgage: What are the tax liabilities appeared first on Housing News.

- Monday, July 24, 2017

Reasons why banks reject your home loan application

With the increasing aspirations of the young generation, along with astronomical prices of houses, most home buyers today, seek to avail of home loans to fund their property purchase. However, there are various factors, … READ FULL STORY The post Reasons why banks reject your home loan application appeared first on Housing News.

- Wednesday, July 19, 2017

How will changing interest rates impact home loan EMIs

Interest rates play a key role in the home buying decision, when one opts for a home loan. Presently, the interest rate on home loans, is around the 8% mark, which looks very attractive, … READ FULL STORY The post How will changing interest rates impact home loan EMIs appeared first on Housing News.

- Saturday, July 15, 2017

Before paying, ensure seller isn’t lying about existing loans on property

Obtain a no-objection and no encumbrance certificate In case the society has been formed, the share certificate would have been issued to the owner of the property. While issuing a loan against a property, … READ FULL STORY The post Before paying, ensure seller isn’t lying about existing loans on property appeared first on Housing News.

- Wednesday, July 12, 2017

4 reasons why home loan lenders ask for your bank account statement

While granting a home loan, lenders generally ask the applicants to submit a copy of their bank’s account statement, for six months to a few years. These are very important documents from the lender’s … READ FULL STORY The post 4 reasons why home loan lenders ask for your bank account statement appeared first on Housing News.

- Friday, July 07, 2017

How does the interest subsidy scheme for EWS and LIG work

The government has been trying to support the cause of housing, through its ‘Housing for All by 2022’ mission. Under this mission, the government has come out with two schemes, to partly fund the … READ FULL STORY The post How does the interest subsidy scheme for EWS and LIG work appeared first on Housing News.

- Monday, July 03, 2017

How to get a home loan to construct your own house

People generally take home loans, either for the purchase of a ready-to-move-in house or for booking an under-construction property. However, people can also avail of home loans to get their house constructed – either … READ FULL STORY The post How to get a home loan to construct your own house appeared first on Housing News.

- Thursday, June 29, 2017

Will home loans become costlier under the GST?

There is general perception that due to the increased rates of 18 per cent, the Goods and Services Tax (GST) for services rendered by the lenders, as against the lower rate of 15 per … READ FULL STORY The post Will home loans become costlier under the GST? appeared first on Housing News.

- Thursday, June 29, 2017

Rs 2 lakhs cap on interest deduction: How it impacts property investors

Earlier, whatever interest that a borrower paid against a housing loan, was allowed to be completely adjusted from the income, as a deduction. Now, this deduction has been capped to Rs 2 lakhs and … READ FULL STORY The post Rs 2 lakhs cap on interest deduction: How it impacts property investors appeared first on Housing News.

- Monday, June 26, 2017

Documents required for a home loan application

While planning to take a home loan, it is imperative to be aware of the documents that are required for the application. Here’s a look at the basic paperwork that applicants need to prepare … READ FULL STORY The post Documents required for a home loan application appeared first on Housing News.

- Tuesday, June 20, 2017

Calculate your perfect home loan amount

How much loan should one take? This is a dilemma that most home loan seekers face when buying a home. Taking more loan than needed, can have an adverse impact, warns Rajiv Raj, co-founder … READ FULL STORY The post Calculate your perfect home loan amount appeared first on Housing News.

- Friday, March 31, 2017

The top 5 property purchase plans in the market

Developers are offering a variety of payment schemes, to attract buyers during the current slowdown. For example, subvention schemes have been prevalent for quite some time in the residential sector and are being used … READ FULL STORY The post The top 5 property purchase plans in the market appeared first on Housing News.

- Friday, March 24, 2017

How can I transfer my home loan?

A borrower can shift the home loan to any other lender, who is willing to offer better interest rates. At times, a home loan applicant may also want to increase the loan’s tenure, due … READ FULL STORY The post How can I transfer my home loan? appeared first on Housing News.

- Wednesday, March 15, 2017

How to choose the right home loan lender

With the entry of commercial banks in the home loan segment, the borrower is spoiled for choice. How does one pick the best home loan and decide whom to take it from? Here is … READ FULL STORY The post How to choose the right home loan lender appeared first on Housing News.

- Friday, March 03, 2017

Will a home loan overdraft work for you?

When it comes to taking a home loan, borrowers have to consider numerous options – different interest rates offered by various banks (which may be fixed rate, floating rate, or semi-fixed rate), in addition … READ FULL STORY The post Will a home loan overdraft work for you? appeared first on Housing News.

- Friday, February 24, 2017

Budget provisions that will discourage investment in high-value homes

The Union Budget 2017-18 has proposed some provisions, which will boost the affordable housing sector but at the same time, will discourage tax payers from treating real estate as an investment class. One such … READ FULL STORY The post Budget provisions that will discourage investment in high-value homes appeared first on Housing News.

- Tuesday, February 21, 2017

These are the factors that impact how much home loan you will get…

Besides checking an applicant’s eligibility for a home loan, lenders also have certain criteria to ascertain the quantum of home loan that they can grant to the person.   Income An applicant’s income, is … READ FULL STORY The post These are the factors that impact how much home loan you will get… appeared first on Housing News.

- Monday, February 20, 2017

Indexation: How it affects long-term capital gains tax calculations

Under the present tax laws, a person is taxed on profit from the sale of any immovable asset held as a capital asset, under the head ‘capital gains’. For computing capital gains, the immovable … READ FULL STORY The post Indexation: How it affects long-term capital gains tax calculations appeared first on Housing News.

- Wednesday, February 15, 2017

Investing in land: The pros and cons

Land as an investment option has always been popular in India. Its popularity has not receded, despite the availability of various financial products such as mutual funds and equity shares. However, you should be … READ FULL STORY The post Investing in land: The pros and cons appeared first on Housing News.

- Monday, February 06, 2017

These are the factors that decide whether you get a home loan or not

There are various factors that determine whether you will get a home loan or not. Consequently, it is advisable to know your home loan eligibility in advance, so that you can plan the purchase … READ FULL STORY The post These are the factors that decide whether you get a home loan or not appeared first on Housing News.

- Saturday, February 04, 2017

Don’t bank on pre-approved home loans alone, for due diligence!

For housing loan approvals, banks carry out certain due diligence, before sanctioning the same. This process consists of two distinct parts. In the first part, the bank/ housing finance company, will conduct a scrutiny … READ FULL STORY The post Don’t bank on pre-approved home loans alone, for due diligence! appeared first on Housing News.

- Wednesday, January 25, 2017

Manage your home loan smartly, as interest rates dive

The year 2017 has begun on a good note for home loan borrowers, with significant cuts in interest rates being announced by most banks. Experts point out that the reduction in the interest rates, … READ FULL STORY The post Manage your home loan smartly, as interest rates dive appeared first on Housing News.

- Saturday, January 21, 2017

4 Advantages of Married Couples Jointly Owning Property

In addition to making an informed decision, property buyers are also working out the best mode of acquiring their immovable assets. Whether it’s choosing the best financing option for tax benefits or directly dealing … READ FULL STORY The post 4 Advantages of Married Couples Jointly Owning Property appeared first on Housing News.

- Friday, January 20, 2017

Home loans based on credit rating finally arrive in India

Your credit history and credit score used to play a decisive role in determining whether you would get a home loan or not and it would stop there. You would get a home loan, … READ FULL STORY The post Home loans based on credit rating finally arrive in India appeared first on Housing News.

- Wednesday, January 18, 2017

How are home loan rates charged by banks and housing finance companies

Basis of home loan interest rates charged by housing finance companies Housing finance companies (HFCs) are regulated by the National Housing Bank Limited (NHB), a subsidiary of the RBI. The funding of housing finance … READ FULL STORY The post How are home loan rates charged by banks and housing finance companies appeared first on Housing News.

- Thursday, January 05, 2017

How and why will the current reduction in lending rates, affect home loan rates?

The substantial cut of 0.90% by the State Bank of India in its marginal cost of funds-based lending rate (MCLR), has created a lot of interest amongst the general public and borrowers, in particular. … READ FULL STORY The post How and why will the current reduction in lending rates, affect home loan rates? appeared first on Housing News.

- Wednesday, December 14, 2016

Home loans: Longer tenure ones are the best bet

Until a few decades ago, Indians were generally averse to taking loans to buy or construct their homes and would use their retirement funds for the same. However, with increasing urbanisation, easy availability of … READ FULL STORY The post Home loans: Longer tenure ones are the best bet appeared first on Housing News.

- Tuesday, December 13, 2016

Factors that affect home loan tenure

The home loan tenure and home loan amount are positively correlated. So, higher the home loan tenure that you opt for, higher is the home loan eligibility, subject to the minimum margin requirement relative … READ FULL STORY The post Factors that affect home loan tenure appeared first on Housing News.

- Friday, December 02, 2016

Here’s why you should thoroughly read your builder-buyer agreement

The builder-buyer agreement is an immensely important document as it is the legal contract between the builder and the buyer. If the developer does not keep his word on any count, it is the … READ FULL STORY The post Here’s why you should thoroughly read your builder-buyer agreement appeared first on Housing News.

- Wednesday, November 30, 2016

Fixed, Semi-Fixed or Floating Home Loan: Which is the best option?

When opting for a home loan, buyers have a choice between three types of schemes – fixed, semi-fixed and floating interest rates. Choosing the correct scheme can be a tricky affair. Various factors can … READ FULL STORY The post Fixed, Semi-Fixed or Floating Home Loan: Which is the best option? appeared first on Housing News.

- Wednesday, November 23, 2016

A quick guide to preparing yourself financially to buy a house

For most people, a house is a one-time purchase. Consequently, buyers often tend to overstretch themselves financially, to invest in the best property they can buy. Considering that investing in a house, is perhaps … READ FULL STORY The post A quick guide to preparing yourself financially to buy a house appeared first on Housing News.

- Monday, October 31, 2016

Tax benefits: Ready-to-occupy scores over under-construction property

Often people pick booking under-construction properties over ready houses because of their lower rates. However, they do so without realising the risks involved; both, the income tax and financial implications. This feature deals with … READ FULL STORY The post Tax benefits: Ready-to-occupy scores over under-construction property appeared first on Housing News.

- Thursday, October 27, 2016

How to calculate income from house property

Income earned from a property that is owned by a tax payer, is taxed under the head ‘income from house property’, whether it is a residential or commercial property.   Basis for taxation If … READ FULL STORY The post How to calculate income from house property appeared first on Housing News.

- Wednesday, October 26, 2016

Why you should buy a property in joint names?

Home owners are often ignorant about the implications of buying a house property in single name, instead of joint names. One of my colleagues had bought a flat in his name before marriage. After … READ FULL STORY The post Why you should buy a property in joint names? appeared first on Housing News.

- Monday, October 24, 2016

Loan against property: What you need to know

Recently, loan against property (LAP) has emerged as a popular form of long-term loans, especially among the self-employed. According to a recent report from CRISIL, this loan category is expected to grow 22% annually … READ FULL STORY The post Loan against property: What you need to know appeared first on Housing News.

- Friday, October 14, 2016

Problems people face while transferring home loans

The facility to transfer one’s home loan from one bank to another, allows borrowers to have a ‘plan B’ in case they are not satisfied with their existing lender. Besides deficiency in services, a … READ FULL STORY The post Problems people face while transferring home loans appeared first on Housing News.

- Tuesday, October 11, 2016

An income option for senior citizens: Reverse mortgage loan schemes

In order to help senior citizens who own a home but do not want to sell them, and yet, supplement their regular cash flow, the government of India has introduced the ‘Reverse Mortgage Scheme, … READ FULL STORY The post An income option for senior citizens: Reverse mortgage loan schemes appeared first on Housing News.

- Wednesday, October 05, 2016

Holding period of a house and its impact on income tax benefits

Income tax laws mandate a minimum holding period, before an owner sells his/her residential house, to avail of tax benefits. Let us analyse the various provisions, under the Income Tax Act, to understand the … READ FULL STORY The post Holding period of a house and its impact on income tax benefits appeared first on Housing News.

- Friday, September 30, 2016

An analysis of? special home loan products for women and senior citizens

Home loans for women The government and moneylenders are offering special treatment to women, which is leading to an increase in the number of ladies owning homes. Various state governments also provide concessions in … READ FULL STORY The post An analysis of? special home loan products for women and senior citizens appeared first on Housing News.

- Saturday, September 17, 2016

Financial checklist for buying a house

Home buying requires a high level of financial preparedness. In places like Mumbai, Bengaluru, Delhi-NCR and other metro cities, the EMI on home loan is normally very high due to higher property prices. Therefore, … READ FULL STORY The post Financial checklist for buying a house appeared first on Housing News.

- Saturday, September 10, 2016

Be aware of pre-possession costs

Divyansh Sharma, a first-time home buyer, who invested in a two-bedroom flat knew little about the additional charges on his property. When he received the pre-possession demand letter, the developer had asked for an … READ FULL STORY The post Be aware of pre-possession costs appeared first on Housing News.

- Friday, September 09, 2016

Need more money after taking a home loan? Opt for a ‘top-up’

When a person buys any property, it generally involves taking a home loan and also exhausting a substantial amount of one’s savings, to fund the margin money. Moreover, home buyers also try to avail … READ FULL STORY The post Need more money after taking a home loan? Opt for a ‘top-up’ appeared first on Housing News.

- Thursday, August 25, 2016

The financial benefits of buying a ready-to-move property vs an under construction one

Due to the options of staggered payments and lower rates, many people opt for an under-construction property without realising its financial risks. Here are some of the benefits of a ready-to-move property as compared … READ FULL STORY The post The financial benefits of buying a ready-to-move property vs an under construction one appeared first on Housing News.

- Monday, August 22, 2016

How to decide when to rent and when to buy a house

‘Fools build houses, and wise men live in them’. This British proverb is often used in arguments against buying a house. Investing in a house is a very important decision, as the amount needed … READ FULL STORY The post How to decide when to rent and when to buy a house appeared first on Housing News.

- Wednesday, August 10, 2016

Co-borrowers: The fastest way to enhance loan eligibility

With the prices of houses rising significantly faster than salaries, it has become increasingly difficult for individuals to buy a house on their own. Consequently, most people now opt for home loans. To enhance … READ FULL STORY The post Co-borrowers: The fastest way to enhance loan eligibility appeared first on Housing News.