Are you someone looking for new apartments or new flats in the metro city? Then this is just the right opportunity for you to purchase any of the under-construction projects progressing within the metro city limits.
Under the Pradhan Mantri Awas Yojana (PMAY) scheme, a home loan subsidy interest amount of Rs 2.67 lakhs is provided to the beneficiaries and the amount is credited to their loan account. Thus, the home loan borrower is privileged to lower the EMIs and this lessens the principal amount of loan payable.
The Government of India is planning to drop the GST rate for property purchases with an aim to push demand, under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%.
On January 18, the GST Council had extended the GST concessional rate on projects constructed or properties acquired under the CLSS for the economically weaker section (EWS) of lower-income group and middle-income group.
EWS - Individuals who are earning up to Rs 3 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit.
LIG - Individuals who are earning from Rs 3 to 6 lakhs per annum are eligible for a maximum loan amount of Rs 6 lakhs. Interest subsidy is 6.50% per annum and maximum interest subsidy amount is up to Rs 2.67 lakhs. And the carpet area has no limit.
MIG-1 - Individuals who are earning from Rs 6 to 12 lakhs per annum are eligible for a maximum loan amount of Rs 9 lakhs. Interest subsidy is 4% per annum and maximum interest subsidy amount is up to Rs 2.35 lakhs. And the maximum carpet area limit is 1291 sq. ft.
MIG-2 - Individuals who are earning from Rs 12 to 18 lakhs per annum are eligible for a maximum loan amount of Rs 12 lakhs. Interest subsidy is 3% per annum and maximum interest subsidy amount is up to Rs 2.30 lakhs. And the maximum carpet area limit is 1614 sq. ft.
A simple and transparent tax applied on the purchase price is the biggest advantage for property buyers. All under-construction properties will be charged at 8% under the GST regime (excluding stamp duty and registration charges) on property value, adding that it will not apply to ready to move in properties and completed projects, as there are no indirect taxes applicable in the sale of such properties. In case of under-construction properties, levy of stamp duty and registration charges on the buyer will continue.
Under the current tax regime, the home builders are subject to central excise duty, VAT and entry taxes (levied by state) on construction material cost. On the services used (labour charges, architect fees, approval charges, legal fees, etc.), developers pay service tax of 15%. Real estate developers also grapple with the challenges of multiple-taxation and the cumulative burden eventually gets passed on to the buyer. As the benefit of input tax credit being considered as an added advantage, developers too will find the GST regime much simpler to work with.
A move of bringing real estate under the purview of the new tax regime, would definitely come as a major boost for the real estate investors of the ready-to-move-in properties. As of now, only the buyers of under-construction projects are covered under the new tax regime.
On booking Varma Homes, you can avail CLSS scheme under the PMAY on home loans and save upto 2.67 Lakhs (*Terms and conditions apply) and an additional 4% Goods and Services Tax (GST) deduction will also be available.
If you are someone looking for new apartments in Kerala and to get more information about any of the projects of Varma Homes, please do visit our website at www.varmahomes.com.
And to make a booking enquiry, please use the form on the website or telephone +91 9645 88 33 33 and we will get back to you as soon as possible.
Kochi, the bustling commercial hub of Kerala, has witnessed a surge in luxury living in recent years. With more and more people looking for a comfortable and luxurious lifestyle, luxury flats have become the perfect choice for urban living in Kochi. In this blog, we will take a look at why luxury flats are the perfect choice for urban living in Kochi.Modern Amenities:Luxury flats in Kochi come equipped with modern amenities like swimming pools, gyms, clubhouses, and landscaped gardens. These amenities not only provide a comfortable and luxurious lifestyle but also help residents to stay active and healthy.Location:Luxury flats in Kochi are located in prime areas like Marine Drive, Panampilly Nagar, and Kadavanthra. These areas offer easy access to shopping malls, restaurants, hospitals, and other essential amenities. Residents can also enjoy the stunning views of the backwaters and the sea from their apartments.Security:Luxury flats in Kochi come equipped with state-of-the-art security systems like CCTV cameras, access control systems, and intercom facilities. These security systems ensure the safety and well-being of residents, providing them with peace of mind.High-end Fixtures:Luxury flats in Kochi are designed with high-end fixtures like Italian marble flooring, designer lighting, and premium bathroom fittings. These fixtures add a touch of elegance and sophistication to the apartments, making them a perfect choice for those who appreciate fine living.Spacious Living:Luxury flats in Kochi offer spacious living with large living rooms, bedrooms, and balconies. These apartments are designed to provide maximum comfort and luxury to residents, making them a perfect choice for families and individuals who value their personal space.Investment Value:Luxury flats in Kochi offer great investment value, with high rental and resale potential. These flats are in high demand, with more and more people looking for comfortable and luxurious living spaces in Kochi. Investing in a luxury flat in Kochi can provide good returns in the long run.Conclusion:There used to be a time when people preferred a bungalow instead of a flat. But now with the increase in land prices and security issues, this is getting difficult. Hence, luxury flats are the perfect choice for urban living in Kochi. With modern amenities, prime location, high-end fixtures, and spacious living, luxury flats offer a comfortable and luxurious lifestyle to residents. Investing in a luxury flat in Kochi is not only a wise investment but also a way to enjoy a comfortable and luxurious lifestyle.Varma Homes offer flats in Kochi with the most contemporary design style and architecture. We have been giving flats in Kochi and have a huge happy client base. On-time fulfilment and delivery of projects are some of our strong points. Our flats in Kochi use the most advanced technology, including contemporary design while keeping the highest standards in quality.
Read MoreWith your busy lives flying by, what you wish for everyday is to have more time at your disposal. So when an expression such as "on time" appears with regards to your dream project, won’t you just jump ahead? But when buying a brand new apartment, there are two prime points that you must take into account: the time of completion and the quality of your unit. For this purpose, getting to know the detailed completion history of the builders you assign as well as the steps they take to ensure the quality and safety of your home is very crucial. Readiness is the keyAt Varma Homes we have driven "ahead of time" to realise and make dreams a reality. With years of experience in the construction field, we have vowed to deliver the best apartment projects across Kerala. The technical team at Varma Homes works round the clock to plan and execute assignments ahead of schedule. And advancing beforehand does not mean compromising the values and standards we have set forth as a team. We have successfully completed 6 projects within a span of 5 years prior to the expected time. Talented workmanshipWith our skilled consultant team, that includes architects, structural engineers, PCP, fire and safety, etc., we go the extra mile to implement competitive plans with keen foresight. Because of our professional approach and a passionate stance, we were able to confront challenges with ease. We have ensured that the highest quality products are produced at all stages. This is done through check-lists, proper staff training, and examining that the preferred commitment is thoroughly brought about in every aspect of the apartment. KRERA - Prospering the real estate futureThe Real Estate (Regulation and Development) Act 2016 was enacted by the Indian government, and the Kerala government established the Kerala Real Estate Regulatory Authority (KRERA) to regulate and promote the real estate business in the state. KRERA is the latest champion for the real estate sector, promoting accountability, citizen-centric policies, and improved financial discipline, all while protecting the consumer's interests. We at Varma Homes understand buyer’s requirement & concerns therefore all of our projects from the year 2019, are K-RERA approved, following the industry norms and is delivering as per given commitments. We consider RERA as an opportunity to comply with a rule that warrants the hard-earned investment of many. Varma Homes has successfully established itself as one of the most trusted builders in Kerala since its foundation. We began with residential projects in Kochi and have since expanded to Trivandrum and Thrissur. Our significant launches will take place in Calicut and other major cities very soon. We've made it our full-time objective to create the best service and quality in our price range, and we've done so consistently. At Varma Homes, we have no stalled projects, because of our belief in constructing happiness both deep within our team and for our stakeholders.
Read More2020 has been quite a year. Unquestionably one that won't be forgotten in their life. The COVID-19 pandemic has put newer perspectives on so many things. We witnessed unpredicted events for economies across the world. The pandemic carried ordinary life to a halt intruding on the development track of numerous businesses. It has uplifted vulnerability over the economy, work, relationships, finances, and obviously, physical & mental health. However, as people, we want security. We need to have a sense of security & have a feeling of control over our lives & well-being. The outbreak of coronavirus in the nation has featured the upside of having your own home when contrasted with profiting a leased accommodation. So, owning a home has now become one of the inevitable parts in these unprecedented times. Hence in this new year own a new home, which implies exciting fresh start, new neighbourhood, & new environs to explore. Purchasing a home isn't only a dream, but a whole life’s effort that individuals put in. The value set on it is a measure beyond sentiments & emotions. Then again, it absolutely makes tough to choose the best & and only a trusted builder like Varma Homes can help bridge this gap. We build not just superb homes as well as an incredible community for people to live in. We will ensure each client's needs are followed and never compromise on the building materials & construction quality. Even during these tough times arising out of COVID-19, we were managed to complete the projects ahead of the schedule. And we are creating a new benchmark to the real estate industry in Kerala, by completing the projects well ahead of schedule. Furthermore, our transparency is high as far as price, legal documentation, dedication & formalities. Besides these reasons, you can discover which is the best match for you in terms of unending amenities, senior assisted living spaces, good investment returns & guaranteed rentals. Thus, we can ensure that your home purchasing experience is simply incomparable & you remain tension- free when you approach with Varma Homes. Being the most trusted real estate builder in Kerala, we have created a special place in the heart of our clients by producing classic yet modern homes with great attention to detail & uncompromising business ethics. We are presently in the cities of Kerala which cover Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode focussing on our aim to construct happiness by widening our reach across different regions in Kerala. Dreams do come true when you discover the right way to realize them. So, go ahead with a reliable builder to realize your dream apartment project. Welcome this new year with a new beginning, forget whatever we faced in 2020, let’s hope for the best. Yes, it's true that we don’t know what’s going to happen in 2021, but there’s room for optimism. We have a vaccine with the assurance of a world returning back to normal. So, hold out hope, perceive your dream apartment right now & make your New Year as prosperous as possible. Here is Varma Homes wishing everyone a gratifying festive season & more sociable & less restrictive 2021!
Read MoreThings to consider before booking your apartments in Cochin Are you dreaming to own an apartment in prime locales of Kochi? There is no shortage of rich housing choices in a metropolitan city, and Kochi is not exempt to that norm. Though, those who have searched for an apartment in Kerala's economic capital, Kochi might have understood that it’s not at all an easy chore. Purchasing an apartment in Cochin need to have a big deal of thinking and evaluation of various factors before fulfilling it. So, when you are planning to buy an apartment in Cochin, you always need to put some additional care and effort. When you decide to invest your hard earned cash on buying an apartment, consider these 9 factors before you jump into the final decision. 1. The Reputation of the Builder Yes, the reputation of builders plays a role. Purchasing an apartment from the reputed builder, to some degree, assures that all their promises will be fulfilled. Through their previous projects, you get to identify to what point they stand on their promises and what quality they deal with. 2. Excellent Connectivity It is another key thing to check before purchasing an apartment in Kochi. If your apartment is well connected with hospitals, retail shops, bus stops, medical stores, accessibility to the city, ATM, schools and your workplace then the whole thing will become more comfortable for you. 3. Essential Clearances Most importantly, you do not want to get jammed in some project where the mandatory clearances are not settled. So before you take a big step, check thoroughly significant legal documents and clearances. 4 Amenities Should Meet Your Expectations You need to check that the apartments you have shortlisted meet all your expectations about the amenities available in the area also. Like your apartment should be in a loop of short distances from Your Work Place, Shopping Malls, Educational Institutions, Hospitals, Parks and so forth. The cost of your selected apartment usually depends on the amenities provided, land cost, location, construction quality, used materials, possession date and nature of the project. 5. Safety & Security A natural disaster and its concerns can change your life, and result in the need for you to move on to another property. So always look at the high-performance apartment building that is a bit safe from all natural calamities and designed to adopt strategies for disaster resistance. The installations of safety features such as emergency alarms, exits, earthquake-resistant materials, basement flood pumps, fire hoses and extinguishers in apartments enable homeowners to get bigger protection from such unprecedented events. When choosing an apartment for you to ensure that the apartment has the right security arrangement like the facilities to block all unwanted salesperson, suspicious strangers and beggars. Although the family goes out of the city for some days your home is going to be secure and safe. 6. Discover the Essence of Luxury Living Close To Nature Stays on the soothing natural environment in the heart of the city are more comforting and peaceful. So discover apartments that have serene park views or that is within walking distance of green grass, bushes and trees. Altogether, the atmosphere stimuli your mood, so it is best to be in an abode where you have the least stress and you will find your sense of peace returning. 7. Future Valuation Property investment is sensible only it brings redoubled returns in future. You would possibly be shopping for an apartment to reside, you never know when you need to own a new apartment with a lot of facilities and sell the current one. So when it comes up to purchase an apartment consider the future valuation of the property. Kochi with its increasing traffic, pollution and frantic life, most of the people are looking for a residential zone that is in close proximity with IT HUB, open gates to nature and heaps of luxury to pamper them. To fulfil their dreams, Varma Homes, one of the most prominent builders in Cochin offers you luxury apartments in the prime locations of Queen of the Arabian Sea. Our major ready to occupy apartments in Cochin like Varma Regent and Varma Maalika has already received an awe-inspiring response from the public. We invite you to join our fast growing community of satisfied clients where you can meet the unmatched quality of living spaces and all the essentials for practical living. Now we are come up with a new prestigious project “Varma Bougain Heights Purple “at the central location of Chottanikara which is the perfect blend of serenity and accessibility. So make your first move, take a visit to our new project where words are not enough to define the splendour of Bougain Heights. You need to experience it, invest in this compact apartment and get guaranteed returns. Above all, enhancing the quality of life and constructing happiness are the key aspirations for Varma Homes. You can discover and experience all these factors for the peaceful living in all the houses of Varma Homes. So why are you wasting your valuable time in search of a luxurious, comfortable and elegant apartment in Kochi? Varma Homes is your best choice. Give us a call to book the fanciest most exclusive apartments in Cochin. We’d love to help you!
Read MoreThis blog will discuss the reasons why Kerala is an appealing option for commercial real estate investment, including its stunning scenery, lively culture, and thriving economy. We will also examine the advantages and potential prospects that await builders in Kerala.Strategic Location: Kerala's strategic location, nestled between the Arabian Sea and the Western Ghats, positions it as a gateway for trade and commerce. With well-connected transportation networks, including airports, seaports, and an extensive road network, Kerala offers easy accessibility to domestic and international markets. This makes it an ideal location for businesses looking to establish a presence in South India and explore new markets.Thriving Industries: Kerala is home to a diverse range of industries that contribute significantly to its economic growth. From tourism and hospitality to healthcare, IT and ITES, manufacturing, and agriculture, Kerala offers a wide spectrum of investment opportunities. The state's strong service sector and skilled workforce further enhance its appeal for businesses seeking expansion or diversification.Amidst this promising landscape, consider the convenience of investing in ready-to-occupy flats in Thiruvananthapuram as part of your investment strategy.Growing Infrastructure: Kerala has witnessed significant infrastructure development in recent years, which has further fueled its commercial real estate potential. The state boasts modern office spaces, industrial parks, and commercial complexes equipped with state-of-the-art facilities and amenities. The government's focus on improving infrastructure, including transportation, power supply, and digital connectivity, creates an enabling environment for businesses to thrive.Favorable Business Environment: Kerala has established a business-friendly environment, characterized by investor-friendly policies, ease of doing business, and robust legal and regulatory frameworks. The state government's initiatives to promote entrepreneurship, innovation, and startups have contributed to a vibrant business ecosystem. Moreover, Kerala's high literacy rate, skilled workforce, and strong social infrastructure make it an attractive destination for businesses seeking long-term sustainability.Potential for High Returns: Investing in commercial real estate in Kerala, including luxury flats in Thrissur, offers the potential for high returns on investment. With the state's growing economy, increasing consumer spending power, and rising demand for commercial spaces, investors can benefit from capital appreciation and rental income. Additionally, Kerala's thriving tourism industry and growing demand for hospitality and retail spaces present lucrative opportunities for investors looking to capitalize on the state's vibrant tourism market.Cultural and Natural Splendor: Apart from its commercial potential, investing in commercial real estate in Kerala allows investors to immerse themselves in the state's rich cultural heritage and natural beauty. Kerala's enchanting backwaters, lush green landscapes, and captivating tourist attractions add value to commercial properties, making them more appealing to visitors and tenants.Investing in commercial real estate in Kerala offers a unique blend of strategic location, thriving industries, growing infrastructure, a favorable business environment, potential for high returns, and the opportunity to experience the cultural and natural splendor of the state. Whether it's setting up an office, retail outlet, hospitality establishment, or industrial facility, Kerala provides a conducive environment for businesses to grow and prosper. By unlocking the potential of commercial real estate in Kerala, investors can seize the opportunities that the state has to offer and reap the rewards of their investment.Varma Homes provides a diverse selection of residential apartments for sale in Kochi, offering various amenities. Our apartments in and around Kochi cater to the increasing demand for high-quality living spaces, combining modern and traditional comforts. As the economic center of Kerala, Kochi has experienced a significant real estate surge, with the outskirts of the city becoming prime investment opportunities.ConclusionVarma Homes, with its diverse selection of residential apartments in Kochi, complements the economic center of Kerala, providing high-quality living spaces that combine modern comforts with traditional charm. As builders in Kerala, we understand the vast potential that the state offers for real estate investment. By unlocking these opportunities, investors can experience the beauty of Kerala while reaping the rewards of their commercial real estate ventures. As the state continues to thrive, it remains an appealing destination for businesses looking to expand and grow, making Kerala a wise choice for those seeking profitable and fulfilling commercial investments.
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