Category: Home Loan

Why buy a plot in a gated community at Chegunta?

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Investments these days have become quite targeted. People are hardly willing to invest in anything that poses a high-risk factor. Since the pandemic, the expenditure patterns of most have changed completely. A vast majority of people have cut down on their miscellaneous expenditures and have focused on saving. This is all due to the uncertainty that COVID-19 brought along with itself. The ever-evolving city of Hyderabad has transformed into a hub of futuristic developments. Owing to the enormous progress in all sectors of the economy including IT and Pharma, Hyderabad indeed is looking towards a bright future. These developments have created a tremendously strong job market which is the sole reason for several migrations from all over the globe. This inflow was directly proportional to the demand for good real estate options and the demand grew. The surge of developments throughout the city led to further development of neighbouring locales and towns, creating a potential gold mine for real estate investors.

Gated Community Plots: The Future of Investments

Gated communities are one of the safest and fastest-growing lifestyle options all over the world due to the level of convenience they offer. Investing in gated community plots is profitable for many reasons.

  • They have quality amenities that offer higher returns in the future while providing an exceptionally convenient life
  • Due to the rising demand for private living, people prefer gated communities as their option for investments
  • Maintenance is much lower due to shared expenses and saves a lot of money
  • Gated communities are systematically developed and hence, are likely to appreciate much quicker than under-developed projects
  • Owing to the amplified level of convenience gated communities offer with essentials all around, it boosts the appreciation on your investment
  • Gated communities have a better quality of development which appreciates the value of the land
  • Rentals in gated communities will be higher than normal because of the abundant availability of everything you would ever need

Buying a Gated Community Plot at Chegunta

Chegunta is an up-and-coming town in the well-connected district of Medak. It is connected to the rest of Telangana through NH-44 and AH-43, and its located quite close to major cities Hyderabad, Nizamabad, Kamareddy, etc. with only a 30-minute drive to the Outer Ring Road. Chegunta is home to beautiful weather throughout the year and is a pollution-free environment which has created an agrarian industry here. Greenery is abundant and Chegunta accommodates several good schools and colleges in its proximity.

The Government of Telangana has discovered the huge untapped potential for establishing industries related to food processing. There is abundant availability of several kinds of agricultural produce, which acts as raw material for the food processing industries. These units, in turn, would create employment opportunities in the district, and as the industries grow, the value of land is bound to appreciate to unimaginable heights. This massive scope for development is the prime reason why Chegunta has incredible potential for profitable investments.

At TMR Group, our focus lies in creating safe and profitable investment opportunities for everyone, even during this uncertain time. We assure utmost transparency in the procedure and prioritize the quality of development. Chegunta is a thoughtfully picked location owing to its tremendous potential for development in the near future, making it a gold mine for investors! The weather here is beautiful throughout the year, and the atmosphere is pollution-free. It is a lovely place to live in and make the most of its growth with hassle-free returns on your investment. Visit www.tmrinfra.com to know more about us. You can easily book a site visit through our website and check out the project that interests you. 

Full EMI vs. Pre-EMI: What works well?

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Since the pandemic, a vast majority of people have started investing in real estate as it shields the future of their families from any uncertainties. The Government has taken noteworthy steps to boost home and property ownership in India. The interest rates of the banks are at an all-time low and are expected to stay the same for another year or so! This has opened a window of opportunity to invest in real estate and cherish the amazing returns as India is predicted to go through inflation soon. Real estate is an amazing asset to hold during inflation. Banks offer flexible EMIs that can be paid off over 30 years in extreme cases. EMIs are an opportunity to pick anything off the shelf without paying for it right away with thorough implications of penalties if delayed.

About Full EMI

Full EMI repayment of a home loan refers to the payment of the principal amount as well as the interest levied on the loan. Installments of the payment begin once the construction of the houseis completed. Some banks also allow the commencement of full EMI payment while the loan amount is being disbursed in stages.

About Pre EMI

Pre-EMI is paid only on the interest rate applicable on the loan. Pre-EMI is paid during the construction of the house and ends once the construction is completed. The amount is lesser as Pre-EMI covers only the interest portion is and the principal amount remains the same. The pre-EMI period is not part of the loan tenure and commences once the phase of pre-EMI ends.

Differences between Full EMI and Pre-EMI

  • After opting for the full EMI, borrowers can seek disbursal of the entire loan amount
  • After opting for the Pre-EMI, the loan amount is disbursed partially
  • The EMI amount paid at the beginning of the full EMI is higher as the installment covers the principal amount and the interest
  • The EMI paid, in the beginning, is much lower in the case of pre-EMIs because it only covers the interest on the disbursed portion of the loan
  • Full EMI interest rates are calculated as per the entire principal amount
  • Pre EMI interest rate is calculated as per the disbursed loan amounts

At TMR Group, we aim to provide great investment opportunities with brilliantly developed plots in Hyderabad. Our remarkable customer executives have excellent communication skills and grasp the depths of your requirements. Our well-planned projects are placed in strategically handpicked locations that hold great potential to boost your ROIs. Visit www.tmrinfra.com to know more about us and our work. 

All you need to know about Reverse Mortgage!

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Quite often in the movies and in families we have seen and heard about the term ‘mortgage’. We see how a parent has to mortgage their assets to get a loan from the bank to make funds available for their children’s education or the wedding of their daughters. Well, this blog will speak in detail about the furthermore specific aspect of a mortgage, and dwell deep into the concept of ‘Reverse Mortgage’. So, let’s begin with some basic questions.

Reverse Mortgage or Forward Mortgage?

Mortgage, in simple terms, means ‘loan’. The lender can either be a bank or a financial institution or an individual. The purpose of a mortgage can be as simple as to own a property. It might be possible that the mortgage amount can cover the entire cost of the property, but commonly the loan amount can be secured up to 80% of the value of the property.

What ‘Reverse Mortgage’ is somewhat similar to a loan for senior citizens who lack a regular source of income. Imagine a 62-year-old father who owns a house. There’s a considerable amount of home equity line of credit attached to it what we know as HELOC. That amount can be withdrawn at any time. However, the home acts as collateral.

On the other hand, a forward mortgage is a type of fixed-rate mortgage. Compared to a normal kind of mortgage, a forward mortgage proves to be quite expensive. The lock-in period for the interest rate can be planned way ahead even before the mortgage term begins. This is helpful when you intend to own a property in the future. Forward-thinking, isn’t it? That’s why they are called that way.

What you can take away from this is that a reverse mortgage requires you to be 62 years or older to take benefits of the loan amount and they do not require a monthly payment or balance unless the property owner or the borrower dies, or sells the property or moves to a different location.

How does Reverse Mortgage work exactly?

This is the next big question of every layman who doesn’t understand these terms. Well, it’s not a complicated process. The borrower pays to the lender and the lender makes payments. However, in the Indian context, senior citizens tend to transfer their property in the name of their children and later get a bit doubtful whether or not to mortgage the property to a bank or some financial institution. There’s no need for a minimum income amount to qualify for a reverse mortgage as it doesn’t require monthly payments. Even if the borrower doesn’t have an income, they are eligible to qualify for a reverse mortgage.

However, the value of the house they own will be ascertained by independent valuation through property valuation methodologies generally accepted in the industry. A provision for periodic evaluation and consequent loan adjustments would be made once in 5 years, but the loan amount would be fixed based on the present market value of the property and not the future value.

How is reverse mortgage beneficial?

Reverse mortgage is not that convoluted as it seems to be. It has its own perks and senior citizens these days are very much in favour of it. Here are a few benefits of choosing a reverse mortgage.

You are still the owner: Contrary to the popular belief that you lose ownership of your home once you mortgage it, reverse mortgage is nothing like it. As long as you comply with the terms of the loan and pay your property taxes and homeowner’s insurance, the ownership stays with you.

The income is completely tax-free: the income that you receive from a reverse mortgage is exempt from tax. This indicates more savings for you. Not just that, you can even claim deductions on your home repairs and renovation expenses under a reverse mortgage.

It’s a new kind of income source: Moving away from traditional investment options such as fixed deposits, post office schemes or national savings certificate, reverse mortgage proves to be a supplementary source of income.

At TMR Group, we ensure that our customers are aware of all the terms that can help them invest in the right place, the right way. Our objective is not only to sell products or services but also to keep our customers informed about all the market-related terminologies that can help them make better investments and allow them to prosper. That’s how we believe, we can build a better bond and set better examples for the future generation.

Home Loan Benefits for Women in India

Home Loan Benefits for Women in India

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Indian women have expanded their horizons. They are exceling in various fields. They are setting benchmarks, inspiring people and dreaming big. The financially independent women are taking decisions for themselves and their families.

Indian women have already known as great home makers. Now they have become home buyers too, in large numbers. Considering this home loan lenders have created attractive schemes especially for women with specific benefits. Let’s have a look at them.

Lower interest rates

Interest rates for women’s loans are lower. It is a great benefit that lowers the Equated Monthly Instalments (EMIs) and saves money over the tenure of the loan.  Many banks and lending institutions offer a concession of 0.05% to 1.00% on home loan for women.

Lower Stamp Duty

Stamp duty is the state government’s tax on the property during its sale or transfer. Generally the Stamp Duty is from 4% to 10% of the property cost. Many state governments have 1% to 2% lower stamp duty for women buyers, in solo or joint ownership.

Tax Benefits

Taxpaying women are eligible to claim home loan tax deductions under Section 80C of the Income Tax Act, 1961 and under Section 24(b) of the Income Tax Act, 1961. In addition, there are other additional tax deductions that benefit women home buyers.

Benefits as Co-borrowers

Women can apply as co-borrowers with their spouses. The combined income of the couple endures higher loan eligibility. It allows the couple to select the home of their choice. They can avail tax benefits as well.

Quick Loan Approval

Data analytics has proven that women have higher loan repayment rates. So a woman’s chances of loan approval are higher. More and more women are also encouraged to be home owners so as to become self-sufficient and financially empowered.

Land is a very stable investment option that appreciates steadily but surely. It proves to be a good long term investment for women. TMR has excellent plot schemes at premium locations. With loan benefits and appreciation guarantee, women are sure to enjoy this double benefit and get rewarding returns. So are you ready to take the plunge?