Significance of Occupancy Certificate

When you go and see a house before buying it, your real estate agent or affordable home project builder tells you that they have received an occupancy certificate for the property or the home project, congratulations! This means that the property is reliable and approved by the governing authority. You can go on and purchase the home or property you’ve chosen.

After performing various checks, an occupancy certificate is issued by the concerned governing authorities on the request of an affordable housing project builder, certifying that the property is constructed as per the standards and by-laws specified by the authorities. The certificate is issued only after completion of a project or a building. The standards specified by the authorities are essential for your safety and comfort because they comprise checks on road clearances, fire safety, and other civic requirements.

An occupancy certificate further confirms that a property or home you’re buying has been constructed legally, and is fit to be occupied, proof of a valid occupancy certificate is necessary before you plan to move into a constructed property. There are no specific laws that state that while registering for a new property, it is mandatory to have the certificate in hand. Hence, most of the time, it happens that buyers are not even aware of the existence of such a certificate and more often than not, they end up taking buying without an occupancy certificate.

Unfortunately, there are many consequences of moving into a home without an occupancy certificate. Apart from the risk of not getting basic amenities, there is a danger of living in a home that has not been cleared of safety hazards. Any affordable home project builder who tries to sell you a home project otherwise is not looking for your best interests.

When you choose an affordable home project, make it one of the questions you ask. You can be rest assured – if the occupancy certificate has been obtained by your builder – the property you have chosen has passed all the safety measures and ready to move in. It’s your right to ask for an occupancy certificate and your builder or agent shouldn’t have any problem in giving you transparency concerning the importance of providing you with an occupancy certificate.

CLSS: Respite for affordable housing schemes

Home is essential for all families. If you or any of your family members don’t own a pucca house, then you might be eligible for Credit Linked Subsidy Scheme. (CLSS) under Pradhan Mantri Awas Yojana (PMAY) affordable housing scheme. This affordable housing scheme covers all the people falling under Economically Weaker Sections (EWS), Low Income Group (LIG)and Middle-Income Groups (MIG I and II).
You may be wondering what is PMAY subsidy? While PMAY is a broader scheme that aims to provide Housing for all, CLSS provides subsidies in the interest rate payable on home loans to make home-buying more affordable.

How does CLSS work?
As an instance, let’s say you have taken a home loan of Rs. 9 lakh for 20 years at a 9% interest rate. Under PMAY affordable housing scheme, if you are eligible for the middle-income-group I category, you’ll get an interest subsidy of 4%, which will make your effective interest rate of 5%. The total subsidy on your home loan would be Rs. 2,35,068.
Now, you can get a loan of higher amount depending on your eligibility, but the maximum amount for interest subsidy under CLSS that you will be eligible for would remain Rs. 9 lakhs under the MIG I category. Similarly, if you choose to opt for a longer tenure but the subsidy you can avail for will remain a maximum of 20 years. So, even if you take a loan of Rs. 10 lakhs for a tenure of 30 years, you will be eligible for Rs. 9 lakhs for 20 years. Additionally, you will be charged Rs. 1 lakh at regular home loan rates on the remaining loan amount for a period beyond 20 years (i.e. for the balance 10 years).

How to avail PMAY subsidy?
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If you want to claim subsidy under PMAY – affordable housing scheme; your home loan must have been approved on or after January 1, 2017, as this affordable housing scheme is valid till March 31, 2022, for EWS/LIG segments and March 31, 2020, for MIG segments only. The subsidy is given on the behalf of your loan provider; you don’t have to do it in person. To claim the subsidy, all you need to do is submit a declaration, that must confirm your eligibility by fulfilling all the criteria. Once you have successfully submitted the application, your bank or the lending institution which you’ve applied for a loan will complete all the requisite formalities and file for a subsidy on your behalf. Now, you just have to be patient, the subsidy amount will be automatically credited to your home loan account as soon as the nodal agency such as the National Housing Bank approves your application.
To conclude, PMAY has made homeownership easier and cheaper for first-time buyers.

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Reasons that make Group Housing Project in Gurugram a lucrative offer for future investment

There are several kinds of housing projects available in the market. Given the availability of so many options in the real estate business, it isn’t very easy to pick out the best ones within budget along with all other available amenities around. Hence, if you are concerned about investing in good affordable yet profitable plots, then check out the Group Housing Project in Gurugram.

Essential features of a significant housing project

Certain aspects can make or break a real estate project in today’s competitive world. Here are some of the most crucial elements to check out while picking out the best housing project around you:

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· Availability of basic amenities

The availability of basic amenities happens to be one of the essential parts of a significant housing project. You need to check the presence of multiple vehicular parking spaces, proper sports areas, fitness amenities, along with the primary water and electricity supply to the project. Along with these, an excellent housing project also has the availability of the high-tech connectivity, modular and fully-equipped kitchen setups, gymnasiums, power supply and 24 hours water supply as the necessary amenities.

· 24*7 security available

Another aspect that makes any project an ideal residential one is the availability of high-end security services for the inhabitants living there. The housing project in Gurugram promises to deliver the best professionals from the security industry for the safety of their people here.

· Closeness to leading social infrastructures

A convenient location and proximity of the project to the leading social amenities are some of the essential aspects of a good housing project. In the case of the housing project in Gurugram, one gets easy access to all the nearby National Highways, railway stations, airports, business areas, etc. However, given its location among the lap of nature, the project isn’t marred by any issues of traffic congestion or sound pollution. That is one of the underlying reasons that make it an ideal one for residential investors in a specific location.

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· Affordable prices

Another characteristic that makes a housing project worthy of your investments is the prices of the properties. We all love to invest our money in properties for profitable returns. But if the properties are priced at extremely higher rates, then it makes it difficult for the general people to invest their money in such projects.

However, a good and successful housing project will never quote an unrealistic price for the people. They provide the most affordable prices rates in the market, which is the reason why there is always an increased demand for such projects in the market. For example, the recent market trends show that there is a potential increase in the sale of the housing project in Gurugram as they are reasonably priced at affordable rates for the people without compromising with any kind of modern-day amenities.

To understand more about this project at Gurugram, let us take a quick look at the basics of the project:

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About the project

This project has been done explicitly with keeping the essential requirements of the clients and hence is one of the most successful projects going around this location. You get to enjoy all the urban amenities without compromising on the lifestyle choices here. Along with this, the natural surroundings around this place provide an ideal location for residential projects. The closeness of this property to almost all the leading schools and educational institutes here makes it ideal for the families.

Along with this, the location lies close to nearby offices and commercial units, which makes the regular commutations quite easy for the inhabitants here. Also, the closeness of the location to beautiful landscapes here provides a pleasant environment for the inhabitants here.

Some of the essential features of this project are:

· It is one of the most developing regions of Gurugram

· The project is placed at a distance of 60-meter wide road

· You get easy access to Dwarka Expressway, KMP Expressway, NH-8 and Pataudi Road

· The nearby locations include Hero Honda Chowk, IFFCO Chowk, Rajiv Chowk, IGI Airport, Delhi Airport, etc.

· It also happens to be constructed at a cycling distance from the prominent IMT Manesar

· The nearby hospitals here include Aarvy Healthcare, Krishna Hospital, Arc Multispecialty Hospital, etc.

· Availability of metro stations nearby

· Presence of different kinds of educational institutes like Yaduvanshi School, Colonnels Public School, SGT Group of Institutes, Sharda International School, Eureka Pre School, Lotus Rise World School, Sanskar Jyoti School, RPS International School, Super-30 School, etc.

· This place is around 30 minutes’ drive from Gurugram Railway Station.

· The place is located at a distance of 15km away from AIIMS National Cancer Institute in Jajjhar.

Apart from these features, one of the reasons why people love to invest in excellent residential properties is only because of the safety and security of their families. In the case of this project, you get the top class security systems monitoring on every activity of the outsiders to provide the best security to the inhabitants here. You can check out this project to know more about it and what makes it a popular one in the real estate market.

6 Reasons Why Affordable Properties in Gurgaon are Good Investment Options

Owning a house is one of the best things a person can have. As living in a rented house is not said to be an easy task, and for your own dream house, Gurgaon has stored so many options in its bucket. There are many Affordable Housing Scheme In Gurugram. The desire of getting your own house, in any case, can prompt inconvenience if individuals extend their funds to satisfy it, so sticking on to the budget is one most important thing to follow so far. Be that as it may, delaying the buy till one collects the fundamental assets can likewise be an exorbitant recommendation—other than being disappointing. You can invest easily in Best Affordable Projects In Gurgaon to get higher profit returns

A starter home—affordable, littler—may not offer all that you had liked in a house, however acquiring it tends to be a monetarily smart move.

It works out to reward contrasted with living on lease or binge spending on a fantasy house by taking a huge home advance. What makes the recommendation far and away superior is that the administration has boosted buying reasonable homes for first-time purchasers.

The need for getting the best out of property speculation is constantly worrying and particularly with the numerous changes in the ongoing past, people still get worried about putting resources into the properties. The top of the line market has been experiencing stagnation and the best wager for wise speculation is investigating and find one perfectly reasonable or affordable property market zone. Affordable or Reasonable properties are said to be one better speculation since they help to tie down a decent ROI or help to give consistent income as a lease. Here are some reason why Affordable Housing Scheme In Gurugram is best for you

Endorsed Property

Tasks under the moderate accommodation that conspire are endorsed by the state and nation Planning Department of Haryana. Endorsement of the tasks by the Haryana government guarantees the legitimacy of the property as the purchaser can check the subtleties of the property on the official site TCP and be guaranteed.

Better returns 

Property is viewed as probably the greatest interest in the present time. While the costs of property continue fluctuating, reasonable lodging supposedly sustains its worth. This is one of the key focuses that the purchasers will have an extraordinary probability to profit by the property later on.

Appealing credit benefits

Any property costs an astounding sum for a normal white collar class man, and accordingly, taking an advance for the property is normal. While the premium sum on advances given by different banks may vary, there are not many sure benefits that moderate lodging advance gets. Under the new strategy, home advances up to Rs 35 Lakh will meet all requirements for the advantages under the need part loaning. Likewise, for the development of reasonable lodging Developers can take foundation subsidizing from budgetary organizations at a rate lower than 10.

Secure future

Since there are lower capital interests in Affordable Property In Gurgaon, , there is a generally safe in this speculation. Additionally, the homes can be put on the rent to get the arrival on venture. This makes “ affordable housing” a progressively alluring choice for the purchasers.

Reasonable costs

The administration has fixed the cost of the property which has decreased the plausibility of defilement by the developers. Nobody can sell the property past the fixed rate.