Buying a home VS Buying a plot

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With the growing pace of life, home buying is on a rise throughout the country. All over India, ingenious projects are being developed to satiate the aspiration of many Indians of owning a home. As it is a once in a lifetime event, people are considering various options in the housing premise. Where unique flats with modern amenities are being offered at large, buying a plot comes with the ease of customization and other aspects to suit the different needs of people. When such is the case, understanding vital insights of both sides is important and for the same, here are key touchpoints that would help you.

Buying an apartment

An apartment is an entity created for a general sale. It’s kind of a product developed or built for mass consumption. The specifications are decided by the developer of the property which might or might not suit all the needs at once. Where many developers have started considering Vaastu essentials before erecting towers, some might overlook and offer you a flat which might not be Vaastu or Feng Shui compliant. There are chances of rooms being extra small or huge in size without offering you the liberty to customize them as per your requirement. At times, a buyer of the apartment may be deprived of the freedom to change the shape and size of the construction area. Now let’s look at some of the reasons why one should own land or a plot.

Buying a plot

Buying a plot can happen in two different ways – buying it to build a house or as an investment. Buying a plot gives a free hand to the buyer for developing the property according to their own choice. Where complete customization from the scratch enhances the value of buying a plot, constant monitoring for development can prove to be a task. However, the freedom to do anything with the plot stands the choice of the buyer. This in turn gives ‘buying a plot’ an upper hand in comparison to buying a flat. Buying a plot as an investment can also be very beneficial. With time as the property rates surge, having a good resale value of the plot can be a profit-making deal. Hence buying a plot has its own advantages in comparison to buying a flat. However, there is more to this for considering the resale of a property and hence understanding the topic in depth is essential.

Resale Value

Most people prefer buying a plot after comparing the resale value for a plot versus a flat. Again, buying a plot gives a freehand to the next buyer by utilizing the existing home or by building a new one according to their own will. With the increasing cost of construction and escalating land value, there are many buyers for buying independent houses. The value of the plot built home is also more due to direct correlation with the amenities within the house and accessibility around it. After comparison and research, it has been noticed that houses have a higher resale value than flats because the buyer gains possession of the land, as well as the house, has been constructed.

At TMR, we understand your needs and then suggest the right kind of property that would complement your aspirations. Hyderabad – rising as one of the flourishing cities of India has many advantages. Starting from climate, geographical location, connectivity, and more have made Hyderabad one of the cities to look up to. Owning a plot here to build a home or as an investment is surely going to make you land on the profit side.

The plus side of customization – Investors Perspective

The plus side of customization – Investors’ Perspective

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One of the most reliable and benefiting types of investment today is an investment in plots. Owing to the high demand for land in residential or commercial development, investing in plots stands as the best choice. Buying a plot as an investment also stands as an asset helping secure one’s future. Investing in plots becomes financial security and the chances of facing losses in this kind of investment are almost rare.

Agriculture Plots

Due to the ever-growing demand for food worldwide, agriculture plots are rising in demand all across. Reports suggest that the world’s population is increasing by 50 million annually and this is resulting in increased demand in the food supply. The rise in need for food calls for more land that can be utilized for farming. That’s why agriculture plots are in high demand all across. In India, income earned through farmland is free from taxation which adds more value to the plot. Owning an agriculture plot is a rewarding long-term wealth creation opportunity and is a stable profit-producing asset. It’s estimated that by 2030 agriculture producers will have to support a population of around eight billion people. Such an assured spike in demand spells the need in the future and also stands an opportunity for investors to be on the profit side by investing in Agriculture Plots. One assured growth after buying an agriculture plot is that the value of the land multiplies with time and re-selling the plot can reap more benefits.

NA Plots

A non-agricultural plot is a piece of land on which construction of any kind (bungalow, office, shop, industrial unit, etc.) is permissible. Hyderabad, being a prime destination for IT working professionals, the value of real estate here is ever-growing. And in this ever-evolving city, chances of getting towering rewards are always high. NA plots offer great flexibility for either using them as an investment or to develop as the need arises. One can utilize NA plots as leisure by converting into a weekend gate away location or can develop it as a commercial property. In comparison to commercial property, NA plots come with nearly no maintenance policy. The only need is to keep checking it time-to-time and that’s all that is required. One can sell away the property at the right time when prices are soaring and reap good financial profits. Such plots stand as a utility option and add more value to the plus side of customization for investors or buyers.

At TMR Group, we locate lands at strategic locations that hold high value or would stand very significant in the near future. Such land is then made available for investors or buyers to help them benefit them in the longer run. One vital insight to consider before buying a property here for investment is the ever-growing love for the city. Hyderabad commercial real estate has seen 172% growth in the last five years which spells the importance of having land in the city. So, fulfill your aspirations by purchasing land with TMR and reaping matchless rewards for growth.

Source:

  • 1. https://pahani.com/blog/
  • 2. https://www.thenewsminute.com/article/hyderabad-commercial-real-estate-sees-172-growth-last-five-years-136930
Hyderabad – Destination of a lifetime

Hyderabad – Destination of a lifetime!

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Hyderabad – The city is already known for its historical significance, for its Charminar, pearls and geography is now also gaining popularity for its social infrastructure and other advancements. The city is already hosting big multinationals from the Information Technology sector offering employment to millions of Indians. Hyderabad stands as the second-largest city in India with respect to the total land area and has over 200 engineering colleges in its vicinity. With its IT exports, the city ranks number two in India making it the favourite choice for Investment.

Geography, Climate and more

Hyderabad is located just 500 kilometres south from the geographical centre of the country and is blessed with bountiful nature. The city is well-connected to all the major cities of India. The social infrastructure within the city speaks for itself as of the finest in the country along with the possibility for the city to spread in all the possible directions as not blocked by seashore or state boundaries. The city hosts people from all parts of the country making it multi-lingual, multi-cultural with a variety of food, lifestyle and entertainment choices clubbed with relatively low cost of living.

Placed at 536 metres altitude on Deccan plateau, it has fairly warm weather through most parts of the year. The city witnesses moderate summers, winters and downpours making it pleasant throughout the year. To add one more feather in its hat is a rating by the industry: Hyderabad is 3rd best city globally according to LinkedIn IT Talent Survey – 2014.

Heritage, food and infrastructure

Apart from the 400-year rich history and culture, the city is also blessed with forts, palaces and museums. Not just this, the city is world-famous for its delicacy – Hyderabadi Biryani. Hyderabad is also known as the knowledge capital of India because of several acclaimed institutions such as IIT, ISB, Nalsar and more. It’s also a Hub of leading International IT giants, pharmaceutical companies, research institutes and laboratories. These make it one of the prime destinations for land for sale in Hyderabad.

 With a wide range of world-class hotels, social infrastructure and other essentials, the city stands super poised when it comes to lifestyle. Construction in Hyderabad is comparatively economical than other cities which in turn, reduces project cost for the city making it favourable for purchasing open plots for sale in Hyderabad.

Hyderabad gives away many reasons for people to love it. With constant evolution, Hyderabad is transforming better and clean. With all this, investing in Hyderabad becomes a wise choice to gain momentum in the real estate industry or to buy plots for sale in Hyderabad. At TMR Group, we ensure that your property purchase becomes something more than just a transaction. Hence, buying a piece of land with TMR as an investment can fetch you something more than just money. It would promisingly give you an experience that is matchless and priceless. It’s one of the premium gated community plots in Hyderabad. Come, plunge into an experience like never before with TMR and dream start your aspirations in your very own Hyderabad.

How Credit Score impacts your home buying process?

How Credit Score impacts your home buying process?

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Your credit score impacts your home buying process in a big way. It is the reflection of your creditworthiness. When a bank or a financial institution appraises your loan proposal, the first thing it does is to look at your credit score. Through this score they determine whether you are qualified to get the loan or not.

What is a credit score?

A credit score is a number that is a representation of your credit history. It consists of the number of accounts you operate, total levels of your debts, repayment history, your credit card usage and so on. Your lender bank checks this credit score to evaluate whether you are capable of loan repayment or not.

How much credit is needed to buy a home?

The range of the CIBIL score is generally between 300 and 900.  You can buy a home if your minimum credit score is 580 and above. Credit score close to 900 is extremely good. Credit score below 500 is considered very poor and the banks do not grant loans to those who have such score. People with poor credit score can buy a house with conventional fixed rate mortgage scheme with higher interest rate.

How to improve your credit score?

When you are thinking of buying a home by taking a bank loan, check your credit score. If it is good your loan will be approved immediately. If not you can improve your credit score before applying for a home loan.

Here are the ways to improve your credit score

  • Keep the track of your credit report. Analyse it and identify the mistakes if any. Get them corrected.
  • Pay your credit card bills on time to be financially responsible and avoid paying extra interest. Spend within your credit limit.
  • Pay your EMIs regularly and in time. If you are defaulting on them it will reflect in your credit score and you will not be trustworthy for a home loan.
  • Focus on your home loan. If you want to take other loans such as travel, furniture postpone them.
  • Check the payment history of your co-applicants. Their credit score has to be in the correct range too.

Of course there is no need to panic if your credit score is low. Raise it up with timely payments before you apply for a home loan. This will make your home buying process hassle free and delightful.

Why is Property Insurance so important?

Why is Property Insurance so important?

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Your home is your cherished dream. You are totally invested in it, emotionally as well as financially. It is but obvious that this precious dream should be protected.

Property is a high-cost and a high-involvement purchase. Any natural calamity or catastrophic devastation such as an earthquake or a fire can destroy that asset. It can become a target of some socio-political turmoils as well. Hence, in order to protect it from such unforeseen occurrences, wise investors always ensure the security of their property with insurance.

What is property insurance?

A typical insurance plan covers for the loss and damage caused by a fire accident, theft, allied damage, or burglary. Also, you get various plans including landlord’s insurance, tenants’ insurance, content insurance, buildings insurance, etc. Lets’ explore why property insurance is so important.

There are many reliable insurance companies that offer a wide range of features and benefits to their insurance plans. These include discounts, customized options, or extra coverage.

Importance of Property Insurance

Property insurance has a number of benefits. So use your foresight and common sense and avail of this security that will save your trouble in the future.

It covers temporary living expenses

When your insured property is damaged you need to live in another house till it is repaired. The insurance covers the expenses you need for this living period.

It covers loss or damage of assets

In addition to your house structure, the insurance companies also offer coverage against loss or damage of your personal belongings or valuable assets such as jewelry, household appliances, clothing, furniture, and more.

It facilitates easy loan approval

Some financial institutions and banks give fast loan approval to those applicants who have their property insured. It is even in the eligibility criteria of some banks. So having your property insured is helpful in quicker loan sanction.

So if you are thinking of buying a property, make it a point to insure it. For your investment purpose, have a look at the property opportunities by TMR, a trusted name in real estate.