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Planning to Buy an Apartment in Kerala, Time to Start Saving Now!
If you are thinking to buy an apartment sooner or later in your life, begin saving at the earliest. The longer you try to save up for your deposit, the costlier your house is going to be. So it’s significant to start planning as early as possible. Here are some tips to keep in mind ahead of buying your first apartment to get the best deal.
Decide On Your Budget
The primary step in the funds saving method is budgeting. Decide what sum you can comfortably pay for. Heed at wherever your cash goes to each month & where you are paying the most sums of money. Note down the amount you spend on necessities such as utilities, rent, student loan payments etc. Then think through the amount you go through every month in the items like restaurants, entertainment, shopping & so on. Once you classify your expenditures, search for sections where you can cut back. Set a definite budget for every classification & stick to it & ensure you budget a particular amount to add on for your down payment each month.
Go For a Side Hustle to Earn Additional Cash to Save For an Apartment
Sounds crazy? However, actually starting a side hustle is one of the best saving tips for buying an apartment. Sometimes to earn extra income, there are several ways such as getting a second job, working extra hours or overtime, or beginning some kind of side hustle.
Chop Down Your Debts
If you are planning to take a mortgage loan for buying your first apartment, but you already have additional debts like credit cards, personal loans, car loans or student loans they could definitely reduce the amount you can put into a home loan. So take time to pay off your debt before you head down for applying for a home loan. Look at closely how much you owe on your student loans, credit cards, personal loans or car loans & generate a plan to tackle it. This will not only help alleviate some of the financial pressure yet additionally help you secure a better mortgage rate.
Cherry-pick Good Investment Options
It is vital to direct some part of your revenue towards investment through Systematic Investment Plans (SIPs). For instance, if you begin to invest 25,000 a month via SIP with a modest return of 10% for just 3 years you can get Rs.10.53lakhs. In this manner, you can easily save for your down payment without nerve-wracking about lifestyle changes. Also, there are some other investment options for the short term: equity-based mutual funds, ELSS etc.
Be Financially Disciplined
Where does most of your monthly income go? On rent, groceries, dining out, shopping, entertainment? Start analysing this. Categorise your expenses and determine how you’re spending your money and then make a budget. If you want to save for your dream apartment, start cost-cutting, avoid wasteful spends, clear your debts and may be try to expand your income pool.
Rent Out a Smaller Place
If you are living on rent, to save for your apartment buying, you may consider shifting to a smaller house for the time being. In case you are single, think about living with family or companions for a year. Any sort of savings will assist you with getting close to realizing your dream about purchasing your own home.
When you’re ready, you can begin the apartment purchasing process. But before that, you have to find a reliable builder. If you're looking for owning your dream apartment in Kerala, then here is your right choice- Varma Homes, the most trusted builder in Kerala. Varma Homes is one of the best residential builders in Kerala, who have residential projects in several locations of Kerala like Kochi, Tripunithura, Thrissur, Kozhikode & Trivandrum. We fulfil your dream of a home with our unique designs with guaranteed quality checks of process & materials to ensure you a perfect home in reality. So get started with buying your dream home with us!
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Things To Remember Before Purchasing Flats In Thrissur
Everyone wants to live in their own home these days, not in a rental, as soon as they start making money, and preferably in a neighbourhood with schools, colleges, a local market, and most crucially, hospitals. It also becomes a clear decision if it is bordered by lush natural plantations and equipped with opulent amenities like a swimming pool, gym, clubhouse, and leisure area. People are willing to make significant financial investments in real estate, thus they are only looking for a flat or villa in their town.Kerala is regarded as "God's Own Country," and the state's extensive use of the colours green and blue results in cities that are surrounded by vegetation and the ocean. There are many people looking to invest in real estate there, and Keralan builders are also providing some excellent deals. One of the cities, Thrissur, is a popular destination for many people, and there are several apartment buildings there. There are multiple builders and developers in Thrissur providing living spaces in the town. Nevertheless, it is always wise to indulge in some research before zeroing a dwelling space. In case one wants to opt for ready-to-occupy flats in Thrissur, here are some points that must be kept in mind.LocationThe most crucial thing to take into account is location. Your ideal home should be situated in a decent neighbourhood that is secure, clean, and well-equipped with amenities, and that has had significant expansion in recent years. It should have easy access to parks, public transportation, health facilities, educational institutions, governmental agencies, shopping centres, and other areas of the city.Appreciation valueThe property you select must be situated in a neighbourhood that has recently experienced expansion. With the passage of time, property value should have increased significantly. The best place to invest is here because it offers a wealth of services and will yield decent profits. If you decide to rent out the home you purchase, you may also anticipate receiving good rent in such a location.Well-Designed Living SpaceExcellent space design is a key component. A well-designed home will ensure optimum ventilation and, as a result, a healthy life for its occupants. You must ensure that your home complies with Vastu if you practise it. Your stay in your dream home will be enjoyable and stress-free if it is roomy and well-designed.Facilities and AmenitiesEnsure that a gated villa or apartment you are considering purchasing offers the essential utilities. There must include a gym, pool, kids' play area, security, and CCTV cameras. Having these things nearby is a bonus considering the hectic lives that the majority of us lead today.Common Area PercentageA skilled builder would plan their building so that the space set aside for hallways, tunnels, etc. is effective and not wasted. This implies that you get the most out of your home and hence, value for your money. Study the area options the builder has to offer and decide which is best for you.Maintenance and other chargesThere are frequently hidden fees that have astronomical prices. The maintenance and other costs for luxury residences might occasionally, even frequently, be very exorbitant. Before you decide on a property, make sure to carefully review everything.The BrandPick a name that is well-known in the real estate sector. This demonstrates the builder's excellent reputation and wealth of business experience, making them a popular option for Thrissur home builders.These are some of the things you should consider when purchasing an apartment in Thrissur in order to get a building that is constructed with high-quality materials, has sound planning, and will make living there a relaxing and joyful experience.Living in Thrissur's ready-to-move-in apartments is like being a part of a big family, everyone with their own private area. Visit Varma Homes to find a comfortable apartment in Thrissur equipped with all the latest conveniences.
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Choose the right investment now & celebrate 2018 inside it..
Kochi, the commercial capital of Kerala, is one among the fastest growing cities in the country. There has been a constant boom in the real estate industry of Kochi, especially the residential property sector that has been aided by the entry of all inclusive apartments and residential enclaves. If you are looking for the best real estate investment option, especially apartments in Kochi, Varma Homes offers you an excellent opportunity. Varma Regent is a compact apartment project in Edappally with 1,2 and 3 bedroom apartments designed for a lifestyle of comfort and convenience. Varma Regent At A Glance • 1, 2 & 3 BHK Compact Apartments • 40 unit urbane homes • 862 sq.ft to 1357 sq.ft • Handover in 2017 December • No pre-EMI till handing over Favorable Features of Edappally Kochi Metro: Kochi Metro is a promising corridor for the growth of real estate in Kochi. The 25-km long stretch metro rail between Aluva and Petta is in the final phase now. The first phase up to Palarivattom will be ready for commissioning by the end of March. Changampuzha Park Metro Station is just 2 km away from Varma Regent. Edappally & Palarivattom Flyovers: Before the commencement of flyovers no other place in the city which had this much of traffic passing through it, other than Edappally. However, the four-lane flyovers in Edappally and Palarivattom have cleared the traffic bottlenecks in these areas. Social Infrastructure: Edappally enjoys a well-developed social infrastructure with many schools, hospitals malls and shopping centres in the vicinity. Some big malls including Lulu Mall - Indias Largest Shopping Mall is just 2 km to the Varma Regent. Amrita Institute of Medical Science, KIMS hospital, Renai & Aster Medicity are just a few km to this project. Connectivity: Edappally Junction is the meeting point for NH 47 and NH 17. It manages to connect the city to most of its components, either directly or as an alternative route. The IT core of Kakkanad and the Infopark also connect with the rest of the world through Edappally. All these factors make Edappally a prime investment option in Kochi for both, investors and end-users. Experts assert that now would be the right time to invest. Register Your Interest Now !
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How to choose the right builders while buying a Flat
Selecting the best home builder for your needs can be difficult in many circumstances. The builder you choose should be able to complete all services with the highest level of quality and on schedule.There are many home builders in the city nowadays, but only a select few of them can be relied upon. You may do miracles with your home with the aid of a skilled builder.A common question that people who want to purchase a home ask themselves is how to choose the home builder.When selecting a builder for your flat in Thrissur, there are numerous factors to take into account. The next section discusses some suggestions for picking the best builder.1. ExperienceBoth the service and the quality given by the builder you have selected will be acceptable if they have been active in the sector for a number of years and have a solid reputation in the business. More experience means more expertise in a given industry.You can always be certain that the home builder has the necessary experience to provide high-quality residences. Therefore, attempt to look into the builder's experience in this specific industry when hiring a builder. A skilled builder will always try to offer his experience to your projects, increasing their effectiveness. Check out some real estate fallacies you need to be aware of in order to choose your property wisely.2. Ongoing WorksVisit the builder's active projects to assess their effectiveness. If the builder has active projects, it will be easier for you to grasp the quality and current updates being employed, as well as the dependability and experience of the builders. Making them your builder will always be a wise choice.When viewing the website, make an effort to evaluate the materials and services they are using. You can determine whether or not to select them by taking into account these elements.A professional builder would frequently stop by the job site to monitor the progress of the construction. This demonstrates the builder's dedication to their craft. So, you may find out if the builder frequently visits the site by asking the owners of the ongoing projects.3. Customer ReviewsOne of the most crucial areas to look at when choosing your builder is this. The builder will be more dependable if they have more satisfied clients.Always make an effort to acquire feedback from the builder's previous clients as well as current clients on active projects. You can learn a lot about your builder's work from this section.Additionally, you can use the internet to find consumer testimonials and feedback, particularly if the builder has a website. You can find the builder's previous projects and read reviews of those projects by entering the builder's name in any search engine. It is among the simplest ways to find out what people think of the builder.4. Success RateIt might be a house, a villa, a flat, or an apartment. Try to learn about the builders' previous projects. Analyse the projects' success rates as well, specifically the proportion of completed homes that were delivered on schedule and were occupied.This part can be used to highlight the size of the business, the calibre of the materials utilised, and the builder's dependability. An effective builder will have a good success rate on their projects. You can choose them if they have taken on significant undertakings and successfully accomplished them.No matter the size of the project, the builder needs to be able to finish it successfully, quickly, and to the highest standard. 5. Matching Your RequirementsYou'll have many ideas while you build a house that should be incorporated into the overall project. A foreign style of design or any other kind of design may occasionally impress you.Therefore, while selecting a home builder for your project, strive to ensure that the builder is qualified to carry out your project's ideas. Share your criteria with them and find out whether they can carry them out before fixing the builder.When you discuss your ideas with the builder, they frequently strive to include their expertise into the project, which will make it more successful. A skilled builder constantly incorporates their expertise and knowledge into their projects.6. Quality of MaterialsSome contractors place a premium on the calibre of the supplies utilised in the job. For your project, it is preferable to choose these types of builders.The longevity of the home may depend on the calibre of the construction materials utilised. Along with these kinds of reliable builders, there are also some unreliable builders who, in an effort to increase their profits, employ subpar materials for the job.You must be present at the construction site to check that all of the materials are of the highest calibre. Visit the customer's active construction sites to examine the quality of the materials.The above mentioned ideas might assist you in avoiding the uncertainty surrounding how to choose the home builder for your project. You should be extremely attentive when selecting the builder because you will be investing a significant sum of money in the project.Try to learn a little bit about the builder's business and look at some of their previous projects before making your choice. so that no one will defraud you.Today's technology has advanced greatly. With the aid of these technologies, you may pick the ideal builder who can finish the project on schedule and within your specified price. Utilize all available resources to select a qualified builder for your project and create a fantastic home.Varma Homes are one of the best builders in Kerala providing the best flats in Kochi and Thrissur among other parts of Kerala. For further information on our project contact us now!
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Why Real Estate Investment in Kochi is the Best Option
The populaces from outskirts are getting well employed and shifting to metropolis due to faster infrastructural development and greater career opportunities. With higher availability of jobs and better educational possibilities, the greater Cochin is immensely growing at an incredible pace due to huge investments of IT sectors in its locations. In case of Trivandrum and Thrissur, they are also the larger IT hubs creating enormous career opportunities. The basic reason for this growth is the heavy inflow of NRI funds from people settled abroad. The IT sector is booming at a lightning speed and thereby generating many more job opportunities in these cities. In case of Kochi and Trivandrum, with such a massive growth happening since a couple of decades and with many more job openings; most families have one or more persons as bread-winners. And their surplus income is used to invest into flats in Kochi and Trivandrum. If you are making a wise decision to buy a property in one of the prime locations from the best builders in Cochin then you are almost guaranteed with the asset value appreciation in the future. You can either live in your own flat or you can enjoy the lease/rental income accrued out of it. And with the rent and lease options, you are also assured with a very high rate of monthly returns from the higher income groups who are in search of such properties available on rental or leasing basis. Varma Maalika and Varma Regent from Varma Homes are the ready to move flats in Cochin conveniently positioned in the most happening residential locations of Kochi city. Varma Dr. Pai's Heritage the super luxury apartment project of Varma Homes is the ongoing Flats in Trivandrum located at the heart of the city. Varma Spectrum, the upcoming Apartments in Thrissur is one of the prestigious projects of Varma Homes. If you are someone looking for real estate investment in the major residential locations of Kerala, then do consider Varma Homes, the reputed builders in Kochi offering: Apartments in Kochi Apartments in Trivandrum Apartments in Thrissur
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Importance of Using RERA Website before Buying Property
Buying a home is one’s lifetime event and it requires a great deal of effort, time, and money. From the years ago, buying an under construction apartment or flat was a risky choice. But now the introduction of Real Estate Regulation and Development Act (RERA) has revolutionized the entire real estate industry and turned it as a productive platform for new buyers. With the enactment of the RERA, buyers can now stop concerning fake practices that formerly were an essential segment of the real estate industry deals which comprises properties under construction. They are: ? Fake agreements of sale ? Delays in passing over properties ? Unprepared changes in construction plans ? Absconding builders ? Acquired illegal permissions Real Estate Pacts in RERA It is true that the before RERA, the real estate industry faced challenges. But now the real estate industry of Kerala has moved out over an extreme makeover when the implementation of the RERA occurred. It helped to generate more reasonable and fair transactions among the home buyers and developers of villas & apartments, making purchases more simple, clear and liable. RERA has formed a pool of buyers who can positively choose for any apartments or luxury flats which is under construction. So let’s check out how the RERA has transformed the earlier norms in the real estate sector. Compulsory Registration Projects with a plot size of minimum 500 sq. meters or having more than eight apartments must be registered with the corresponding state’s RERA. Current projects where the occupancy certificate or completion certificate has not been delivered are also required to meet the terms with the registration requirements under the RERA. These aids guarantee that developers & their real estate projects are genuine and they follow every criteria of authority specified as per the Act. Thus when the construction of the apartment begins, the right of buyers are secured under a registered developer. Reserve Account The prime reason for the delay of projects was due to the fund collected for a project, would consistently be diverted to new projects. To stop such diversion, promoters are now compulsory to submit 70% of all projects receivables into a distinct reserve account. The profits of such account can be used towards land & the construction expenditures and will be essential to be certified by an expert. Frequent Disclosures by Developers After the RERA implementation, home buyers can be able to regularly monitor the work progress of their projects on the RERA website since developers will be needed to submit the periodic work progress submissions on the website. Penalty Even if the best builders, made delay for handing over projects, they have to pay compensation. As the government can impose a stiff monetary penalty which may up to the 10 % of the project cost on the builders. There are also other punishments like imprisonments against violators who generate unnecessary massive delays or fraud in the projects. No Longer Exist Pre-Launches without Approvals Based on the rule of RERA, no pre-launches of projects is permitted without getting the approvals from the development authority or local municipal & without acquiring registration from the controller. This allow buyers to confidently invest in the apartments or villas of their tastes which has recently been launched. As of the arrival of RERA act, buyers can stop worrying about their project work progress. The buyer only need to choose apartment from the best builders at the right location. It is also significant to confirm that the possessions for sale have been registered under the RERA. Head off, and never hesitate to purchase an under construction or upcoming apartment with the most trustworthy real estate builder like Varma Homes. All our projects are registered under RERA. We have completed, ongoing and upcoming residential projects in Kochi, Thrissur and Trivandrum which are aimed to construct happiness.
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