Everything-Real Estate

With the searing rise in property prices, buying an apartment unit or house by a middle-class individual by himself/herself is almost impossible. It is a huge financial burden to bear by a single individual and thus the sector in general is evolving to other trends. One of those trends is the idea of having joint or co-ownership of a property. Instead of the conservative approach of owning properties individually, people are okay with considering joint ownership deals. Co-ownership has a lot of upsides and downsides that need to be discussed. The purpose is to leave nothing behind and help a reader to absorb a brief knowledge about the same. Experts advise that co-ownership has a lot of benefits if the owners are all equally responsible and financially able to come into a mutual agreement. Eligibility to co-own a property: By the country’s laws, the eligibility is quite simple to understand. Anyone can be a co-owner of a property like parents, siblings, children and spouse ar...

Located in southern part of the Chennai city, Pallikarani has been at the radar of real estate developers and prospective home buyers. With the average price at INR 4,900 per square feet; the price range fluctuates depending on the exact location, quality of construction, reputation of the developer and many other factors.  And apart from these factors, with the Real Estate Regulatory Authority (RERA) under action, unstructured sellers are soon to be eradicated from the market for the betterment of buyers and developers alike. Why is Pallikaranai under the radar for development? Pallikaranai is in geographical proximity to prominent IT hubs in the Old Mahabalipuram Road. The corridor accommodates more than 70,000 IT/ITes workforce along with many other college going youngsters. Rental property is always on demand and reasonable rental rates aid working professionals and other youngsters living around the location. Infrastructural development in Pallikaranai: Ther...

After moving from a quiet and un-happening town in Kerala to Chennai, I was quite upset and down that there are not many places to be in Chennai, where I could spend some time alone and introspect the meaning of life without being under the scanner of strangers. I had a notion that being a socially awkward introvert is really going to be hard in a bustling city like this one. But, guess what? “Singara Chennai” had other plans for me. Closely alive with spirited vibes in every corner, the city also has few not-so-mainstream spots where one could unwind without giving a damn about what is really happening around. This blog is to help all my fellow homo-sapiens who feel and experience life as I do. It is high time to take our stand and propagate our un-sung vibes of life in these quaint nice corners of the city. After moving into a flats in Tambaram , Chennai last year, I spent most of my free time (which is all the time) reading, gaming, and binge-watching Netflix series all ...

Under the recently announced Pradhan Mantri Awas Yojana Scheme, there is a Credit Linked Subsidy Scheme for Middle Income Groups (CLSS-MIG). In this urban scheme, MIGs with annual incomes ranging from 6 lakhs INR to 18 lakhs INR per annum are eligible for a subsidy in interest rates for purchasing their first home. The scheme is expected to augment the housing sector if real estate developers are ready to provide compact spaces at lower prices, like the builders with flats in Tambaram specifically constructing units to deliver for this purpose. The subsidy scheme on home loan interests is a part of the “Housing for All” initiative. In this scheme, there is a 4% subsidy on interest rates for home loans up to 9 lakhs INR for the MIGs falling under the 12 lakhs INR per annum income and a 3% subsidy on interest rates for home loans up to 12 lakhs INR for MIGs with an income of 18 lakhs INR per annum. Additional loans over the limit can only be availed at the usual rate wit...

Are you moving into a new apartment or trying to re-organize your floor space? I know that it is a herculean task to undertake, and it seriously needs a sensible approach with proper planning. Optimal placing of the components in discussion is crucial and it depends on a lot of factors like size of the room, size of the furniture and the layout of the floor space. There are ways to go over this whole process and it requires meticulous involvement and a desire to attain perfection, only then your home would reflect your style, character and taste in its rawest essence. I moved into my new flats in Tambaram , Chennai recently and this is what I have figured out on how to augment the living space with optimized and smart furniture placement.  Identifying the focal point of space: Once you are ready to get involved in the process of organizing, you need to have a certain kind of clarity on what to do with the space you got. The first and foremost aspect under this whole c...

The Real Estate Regulation and Development Act came into force in the year 2016 and the country achieved its first realty regulator act. By bringing in transparency and various other perks for both buyers and developers alike, the act is set to transform the sector for its betterment. Parameters of RERA: The regulatory act is set to bring in about 83,000 builders with registration under the purview. With proper regulation and accountability, investments from domestic and foreign financing institutions are expected to increase. Credibility of the developers and builders increase as the focal area of the act is on mandating proper disclosure of the projects which includes details such as land status, clearances, approvals, etc. Transparent pricing patterns along with quick and efficient redressing process enhance the builder’s accountability. The act also ensures that the buyer’s money is used for the mentioned project and mandates the necessity of revealing all the inform...