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.

Factors to consider while investing in Commercial Real Estate

Commercial property is an entity that’s always in demand. Especially in the big cities, that are always generating new business opportunities and drawing in more people from out of town. The commercial real estate sector is an alluring investment option because of the benefits it offers. This includes consistent returns, passive income, and growth potential. 

Following are the factors, we need to keep in mind while investing in commercial real estate property-

1. Location- This is a factor that’s common between residential as well as commercial properties. For the latter, however, it is vital because commercial properties need to be easily accessible or centrally located to draw in the maximum number of people to them. Commercial properties located near residential hubs tend to be very popular. Signature Global Mall is a prime example of this being situated in Vaishali, Ghaziabad (NCR).

2. Documentation- Before investing in commercial property, it is necessary to do a thorough verification of the necessary documents. You can take the help of a lawyer to double-check documents such as title deed, construction permits, property taxes, and utility bills. An overall check on the documents is essential as it will help to get a better idea of the legal work that the investor needs to take off.

3. Market Dynamics- It is important to study the dynamics of the property type, one is selecting. Understanding how real estate market cycles work can help you avoid buying when the market is high and being forced to sell when the market is low. The knowledge of specific indicators of the various market cycles will help to determine what opportunities are present right now and make more informed investment decisions.

4. The right time to invest- Similar to any other real estate property, commercial shop spaces for sale in Delhi-NCR such as Signum 93 in sector 93 of Gurgaon by Signature Global is also subject to rate fluctuations from time to time. For commercial properties, this is heavily reliant on supply-and-demand. If there are a higher number of units available than the demand for them at any point, then the rates will dip, thus becoming the optimum time to invest.

5. Overall Building Quality- Needless to say, it will fetch the investor higher rents, better tenant retention, and higher capital appreciation. Multinational tenants are always willing to pay a premium for quality. Look for certifications like LEED gold or platinum ratings or buildings which have nicer looking lobbies, more elevators, higher ceiling heights, and better views. Higher quality properties are also more liquid and can be sold much faster. Properties that look premium and swanky are guaranteed to bring more business opportunities to them. Comparatively, they do cost more, but when you’re investing in a commercial property, you should be prepared to shell out either way.

Things to do at home in a lockdown

Amid the COVID-19 crisis, there are a lot of people seeking a useful way to spend their time during the lockdown—or if you’re simply interested in building a deeper and meaningful connection with their homes. Lockdown has bought an unexpected, abrupt halt in our lives, forcing us to confine ourselves and working from home or learning from home. It’s jarring but we’re in it together! 

Here is a list of fun and fruitful things to do at home to spread love and positivity around:

Bring Out Your Art Supplies

It’s a great time to set up a little corner to start practicing art again; whether you like working with water colouring, drawing or clay. Art and crafting and getting creative is a great way to spend your time home.

Take Up Needlepointing or Knitting

Researches show that knitting can actually calm your nerves and relieve you from stress. So not only it’ll also be a soothing process but knitting a new blanket gives you something to cuddle up with or needlepoint a pillow can captivate your mood.

Learn a New Language

If you are someone who’ve always wanted to learn a foreign language or may have learned a language in high school but has since been out of practice, now is a good time to download a language app (there are various apps available on play store or Appstore) and start practicing. Or, if you’re not a fan of apps you can always sign up for online classes and start learning a new language.

Research a New Topic

If you are a curious one or interested in a specific topic of science or history, some strange conspiracy theory, a public figure, or really anything at all? Now’s the time to get on with it and start researching yourself. Become a pro! Go knee-deep into the google scholar.

Do Yoga or Pilates

There are so many apps available to practice Yoga and they also offer demo classes. You can start with a demo class or just look up moves to replicate at your own pace.

Although, these are hard times and it is important to practice social distancing be safe. On the bright side, you can use this time to connect with yourself and spend time with your family.

Explore projects by Signature Global while staying at home: Affordable Housing Projects

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.