Signature Global Park in tune with Deen Dyal Jan Awas Yojana

In tune with the Prime Minister flagship project, ‘Housing for All by 2022’ Haryana Government has announced Deen Dayal Jan Awas Yojna. The front runner of NCR’s affordable housing segment, Signature Global is proud to be associated with this policy- Deen Dayal Jan Awas Yojana. It aims to encourage the development of high density plotted colonies in Low and Medium Potential towns of Haryana.

To contribute to the Prime Minister’s mission ‘Housing for all-2022’ the government aims to build 2 lakh affordable houses. Along with, to encourage the initiative and for development of such colonies, the rates of the license fee and external development charges have been substantially reduced, while the conversion (CLU) charges and infrastructure development charges have been waived off. Under the scheme, premium floors project Signature Global Park in South of Gurugram has connected with this policy where we have sold out 300 units out of the total number of units 576 which does not include any ready to move-in homes.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham - National Council on Real estate, Housing & Urban Development said, “We are proud to be associated with such a noble policy from our government where builders can go ahead without any loopholes while developing affordable houses. It would turn out to be beneficial as this project includes all the basic and modern amenities which make it an automatic choice for the buyers of this segment.”

Buying a home is one of the important and pivotal decisions we take in our lives. When we start looking for a house of our choice, we always consider the obvious costs. However, most of the times we tend to overlook or are unaware of certain costs that might become a hurdle in the path of buying a new home. These additional costs might hike the overall price for one leading to spending more than the planned budget. So, it is essential to know them before you sign the dotted line.

So, let’s take a look at some of these costs to prepare you better which are as follows:

Registration + Stamp Duty

Registration charges are the fees you pay to the state government to get a residential property in Gurgaon registered in your name. It will be a significant percentage of your allocated budget. Generally, the charges range from 5-7% of the value of your residential apartment in Gurgaon but each state has different stamp duty charges. Additionally, you will have to pay registration fees of around 1-2% of your property value.

Service Tax + VAT/GST

When you buy a new residential apartment in Gurgaon, these are additional charges that are incurred by you. You have to pay VAT/GST while buying an under-construction property. So, VAT/GST will be applicable, when a residential property in Gurgaon is sold from the seller to the buyer. Generally, it is 1-5.5% of the property value. Central Government also levies Service tax and the tax is applicable for under-construction properties, which is about 8-10% of the total property value.

Maintenance Deposit

In the upcoming societies and townships, Maintenance Deposit Advance is generally charged by the builders. However, in other societies, it is charged as a deposit by society members. The maintenance deposit is commonly used for the maintenance of the amenities in the project like gardens, clubhouse, and basic infrastructure facilities such as water supply, lighting, etc.

Parking Charges

Parking space charge is generally excluded in the original cost of the residential apartment in Gurgaon, and therefore in some societies, the parking space needs to be bought separately. However, the parking space cost depends on the size, its setup – if it is covered or open, and the location of the property. If you wish to let go of the parking space, the seller gets the right to sell it to another member of the society.

Make sure you are aware of all costs before you make a purchase to ensure that you are not taken by surprise later.

5 factors influencing your real estate properties in Gurugram

A real estate property can yield huge capital gains given a perfect set of conditions. Generally, people buying properties are more focused on specific features of residential properties, such as structure, exterior and interior designs rather than paying attention to the factors that impact the value of the property.

Before browsing a new residential project in Gurugram for an affordable price of real estate property, it important to know about the real estate. The value of every unused piece of land will not necessarily go up with time. The market value of certain areas might remain unchanged or even go down with time. It is good to know the factors that can enable you to make the right decision and avoid fruitless investments.

Here are some drivers of the real estate property value:

Location: While buying a new residential project in Gurugram, it’s important to check whether the targeted property you’re planning to buy is located in a developed, developing, or at a location that is going to develop or transform in future. Also, you would have to see if your property is located in a peaceful location or on a highway. If your property is located close to any expressway, you can turn it to your advantage and market value is decided accordingly. Closeness to medical facilities, shops, work locations, and schools should be the other determining factors for families while buying a property. A broad array of good transport facilities and local amenities in the vicinity would certainly enhance the price of your potential property.

Floor: You may get more or less value, depending on the area of your new residential property in Gurugram. Flats on higher floors always cost more when compared to the ones on the lower floor. If your flat is built on a higher floor, you can always capitalize on factors such as sunlight, view, and fresh air.

Geographical stability: It is interdependent on locations. Locations that are susceptible to the effects of natural calamities, such as flooding, earthquakes, tsunamis, and volcanic activities are not considered good decisions when buying real estate property as your family’s safety comes first than any other factor.

Age and condition: The value of a property might not necessarily go up with time. However, the state in which your property is could make a huge difference to the value of the property. The property in excellent condition can get a good valuation on par with a new build of equivalent specifications. 

Security: People always prefer secured places while buying homes as security is the fundamental need. That’s why locations that are safe are more valuable. Also, apartments with facilities like security guards, CCTV cameras, gated societies add to the value of your property.

Apart from the above, the implementation of an affordable housing scheme in Gurgaon can too pave the way for a potential hike in price.

Gurugram’s emergence as housing hotspot

In recent times, Gurugram has become a leading financial and industrial hub with the third-highest per capita income in India. When compared to other cities like Delhi, Mumbai and Hyderabad, Gurugram is relatively young and has most of the retail sector and residential apartments in the modern format with a striking 78 per cent being concentrated in malls and corporate houses. The Millennium City also leads when it comes to annual income with people earning more than 300,000 per year, followed by Central Delhi, South Delhi and Noida.

Best Affordable Housing project in Gurgaon

Gurugram’s vast middle-income-group market is the key attractive force for global retail giants and real estate developers wanting to enter into newer markets, which in turn will help Gurugram to grow faster. With the help of fast connectivity through better roads, Dwarka Expressway and improvement in public utility infrastructure and self-sustained townships, the residential apartments in Gurugram have got an immense boost. Gurugram has a good mix of residential projects and commercial units to offer immense opportunities for people because of its location in retail as well as residential sector.

The future of the housing in Gurugram looks promising, considering advanced technologies aiding operations, the growth of the market, and favorable government policies. The key to the growth of the housing in Gurugram seems to be nuclear families, large young workforce, rise in working women population and emerging opportunities. Not only that, but Gurugram also has one of the fastest-growing retail markets in the National Capital Region. Major metropolitan cities like Mumbai, Delhi and Bengaluru have seen investment of as many as 70 global and domestic brands previous year. Markets in NCR will continue to be the preferred points of entry for global retailers as NCR has the presence of the right target audience as well as suitable real estate opportunities. 

Space-hungry hypermarkets and the need for housing in Gurugram will continue to expand and locate on newer residential developments. Product categories like food and beverages and fine dining, in particular, will continue to grow as the demand for residential apartments are continuously increasing.

Upcoming construction projects coupled with existing physical and social infrastructure are likely to be the driving force behind growth of housing sector in Gurugram. Hence, Gurugram is the rising sun for the housing sector in the coming time.

How to get a home loan faster?

Home loan applications and experiences differ from person to person; for some people, the process is extremely smooth and not so smooth for the rest. But there are some factors that bring around these different encounters. You need to keep in mind the fact that your eligibility for a home loan also can be enhanced with certain pre-meditated criteria. There are well-defined and logical criteria on the basis which your eligibility is decided and a loan is sanctioned. Hence, the actual test is getting your home loan application ready and sanctioning of the loan.

Here are a few suggestions to improve on your eligibility:

Your credit score

A credit score represents your debt-paying capacity on the basis of your historical dealings. It’s a 3-digit score calculated for the consumption of further lenders by agencies like CIBIL, who process all your past credits like how regularly were you paying them back or if you ever faltered, how many loans were accumulated. Things from as small as any business/home loans to your credit card monthly payment in the past are all taken into consideration while working this score out. By popular set standards, a score of 750 or above is said to be favorable while evaluating your application for a home loan. It also depends on each bank/NBFC as they might have their own criterion and there is no one standard rule to access your home loan application. What is usually advised, is to maintain a healthy debt to income ratio and also to pay your debts on time.

Buying a resale residential apartment?

For instance, if you are planning to buy a resale residential apartment for 60 Lakhs and you’re applying to get a 45 Lakhs loan, there is a good chance the bank might reject your application. This is because the bank might conclude that the residential apartment is worth only 50 Lakh after all. This might never be the case with a new flat being bought directly from the builder. Banks might have some reasonable offers for resale residential property, but there are chances that offer comes with higher down payments or granting shorter loan tenures. Additionally, the documentation might not come in very easily from the current owner.

The pre-owned residential property seems to be a bit too much trouble for buying a house and might have issues that you shall only discover as you move forward. Hence, to make your loan process simpler, it is always advisable to buy a new house.

Did you consider co-applicants?

To increase your loan eligibility, having co-applicants is always preferred because a new income is then added to the application which then increases your capacity of repayment. Additionally, this helps because when you are past your 40s/50s, you start planning your retirement and the tenure is shortening. The co-applicant can be your spouse or your earning children. Co-applying for a house with your wife increases your eligibility, you might also get some added advantages like lower interest rates and stamp duties.

Tips to cut down your home bills

Planning your finances and limiting your extra expenses is always prudent which will help you stabilize your expenditure and secure your future. Here some money-saving tricks for you which will help you save money without much effort, and these frugal tactics can be done in and around your affordable flat in Gurugram. You just have to be a little cautious and spend some time planning which will help you save a lot of money.

We often focus on expenses of large amounts and miss the smaller ones which can help manage costs and make most out of those purchases. Thus, here are some of the tactics to save money at different things in your affordable flat in Gurugram:

Plant more trees:

Plant some trees in the north and northwest directions in your affordable flat in Gurugram; this will block a certain amount of sunlight entering directly in your residential apartments In Gurugram. Your home will remain cooler and you will be able to save on your Air Conditionor bills. Some greenery will also help refresh your mind and soul. You can organize a party in your beautiful lawn and invite your friends, and further save up on the cost of a venue. Or else, you can enjoy a cup of coffee with your loved ones. In any case, it’s a good deal for you.

Switch to CFLs

If you use 100-Watt bulbs in all your residential apartments In Gurugram, switching to CFLs will save energy and reduce the costs. This alternate option is longer lasting than the standard methods and also cheaper. The average cost you pay for 20 regular bulbs is INR 700 for 8000 hours/bulb, but switching to CFLs brings down the cost to INR 160, which accounts to a saving of INR 540 per year per bulb. You can save up to INR 6500 per year.

Unplug unused electronics

It is observed that a certain amount of energy is consumed even if the device is not running. It’s advised to unplug the appliance not in use. The simple techniques – unplugging all the electrical appliances before you are off to bed – will help you save loads. Remove the phone charger and laptop when it’s fully charged, which on the other hand increases battery life as well as saves electricity.

Close your closets

Many of us simply miss closing your closets after you using them.  You can easily save the energy consumed in heating or cooling that area. You may also save your clothes from wearing out.

Paint your roof white

The dark colours absorb more energy when compared to the lighter ones. Light-coloured roofs tend to absorb less heat/energy which will keep your rooms are cooler and your Air Conditionor bills and your electricity bill shorter. Sealing up the openings in the windows with a plastic film is an excellent technique apparently as it saves up to 15% of cooling and heating costs.

All these money-saving tactics will help you save money when compared to regular usage. And none of these will affect your life. Just an extra thought will surely increase your saving dramatically.

Clean and protect your home from coronavirus

The coronavirus is spreading rapidly, it’s time to take care of yourself and your loved ones. The impact of the coronavirus is majorly affecting housing in Gurgaon. If you suspect that someone who visited your residential apartment in Gurgaon recently or someone in your home might have an infection, then it is important to thoroughly clean your residential apartment in Gurgaon. The disinfection and cleaning can significantly reduce the chances of contamination on the surfaces which will further mitigate the risk of transmission of the coronavirus.

The Difference between Cleaning and Disinfection

People often mistake disinfection with cleaning, as both the processes are engaged in the removal of germs.

· Cleaning physically removes and scrubbing off organic matter like dirt and germs from surfaces.

· Disinfection is the killing of germs with the assistance of chemicals on surfaces.

· It is essential to clean because the organic matter can reduce or inhibit the impact of disinfectant, and hamper its ability to kill the coronavirus.

How long can coronavirus live on surfaces?

How long can coronavirus live on surfaces is uncertain; all we know is, it might last a few hours to up to several days. The lifespan and viability of corona depend on various factors like humidity, surface type, temperature, etc. for their life expectancy.

What Surfaces Can Be Contaminated

As per the research on coronavirus, there is no specific surface that may or may not be contaminated. Not covering mouth while sneezing or coughing near any surface can contaminate that surface. Our hands are responsible for the transfer of pathogens from one place to another, as we touch most of the surfaces; hence the items we touch are frequently contaminated. These items include TV remotes, kitchen cupboards, kitchen surfaces, taps, door handles, fridge doors, etc.

How to Clean Contaminated Surfaces

This life-threatening coronavirus can be killed and its functioning and spread can be stopped by detergent, heat, and soap. In case a surface becomes contaminated, then household disinfectant can be used to clean the surface. Avoid touching eyes, nose and mouth after cleaning.

First Clean, and then Disinfect your residential apartment in Gurgaon

First get rid of any contaminants, dust, or debris on the surfaces. You can clean by wiping them with a hand towel and soapy water (or a cleaning spray). Then apply a disinfectant according to the surface. The easiest and quickest way to disinfect is by using a disinfectant spray or disinfecting wipes.

South of Gurugram : Sohna is the centre of attraction for property seekers

The people who are fascinated by the megacity Gurugram and work there prefer to return to a calm neighborhood and a fresher environment. South of Gurugram in the foothills of Aravalis is welcoming them with open arms as living here is much healthier and rejuvenating than in Gurugram. In fact, even the South of Gurgaon is now home to World-Class Infrastructure & facilities. With the Delhi-Mumbai Industrial Corridor being constructed at the fastest pace Sohna and Manesar are going to be the new Job hubs.

Property buyers know that the property prices here for a 2 BHK are touching 70 lakhs and above but there is still an opportunity to get a luxurious independent floor apartment in much less than you are expecting with the brand name Signature Global. Under Deen Dayal Jan Awas Yojna in sector 36, Sohna Road, South of Gurugram Signature has an upcoming Project christened Signature Global Park 1 and 2. This Project offers 2 and 3 BHK low-rise premium floors with all the luxuries and amenities one desires.     

There are various reasons to book a property in Signature Global Park but the first and foremost is the Location. Sector 36 of South of Gurugram is right on the Sohna Road or as we must call it the Delhi-Mumbai Industrial Corridor main Highway.

Many Industries, MNC’s, commercial hubs, entertainment hubs are lining up around here. IMT Sohna and the world’s 2nd largest gold refinery by MMTC have been planned here. 3 theme hubs are also a part of the plan. Therefore the development is taking place at a fast pace in the greener surroundings of Sohna where one can book a 2BHK luxurious Floor in the starting amount of 37.90 lakhs.