Why go for a brand name while investing in plots?

Few decisions have the power to change everything about your life. One such decision is investing in real estate. No matter how small or large your investment might be, it most certainly changes the way you think and take decisions. Because you put in a big chunk of your savings into the investment, it is natural to experience stress and confusion because there’s pressure to get everything right about your investment. There are many ways you can minimize the unsettling feeling. The most effective method is to invest in projects from reputed builders of the market. Buying from reputed builders offers more benefits than you might think.

Benefits of Choosing a Reputed Brand

Branded developers have been thought leaders and transformed the real estate sector. From being an unorganized sector, engulfed with trust issues to being an organized, transparent, and customer-friendly, real estate today has come a long way. Government regulations like RERA have further streamlined the sector. Here are the benefits of choosing a reputed builder:

Transparent Procedures:

  • Branded real estate developers have a dedicated legal team that deals with all the documentation and financial transactions
  • Professional accountants subject them to external audits that keep them in check. Reputed builders, in fact, gain from keeping their process completely transparent.
  • With no hidden costs, the rates that they charge match the standard market rates for that location and minimize the probability of a fraud

Completely legal working:

  • There is little to no chance that a property developed by a brand name builder will ever come under legal dispute
  • Reputed builders choose legally clear land or rectify the legal disputes before they begin the development of their project 
  • They have proper documentation with all the clearances and sanctions from the respective governing bodies
  • A reputed builder will always stick with the submitted plans and will steer clear from any potential legal ramifications as their reputation of more worth to them

Easily Approved Home Loans:

  • Home loans get approved easily at the bank while buying from a reputed builder as they generally have tie-ups with banks that simplify the overall process
  • When nationalized banks are partnered with the builder, you can set your mind at rest, as banks avoid fraudulent businesses

Amenities and Accessibility:

  • The locations of the projects are strategically chosen to provide immediate access to all kinds of amenities in the package
  • There is everything to ensure that your family and possessions are safe. All essentials like water, electricity and security are provided 24×7
  • There is plenty of open spaces dedicated to leisure and social activities that help you unwind

Quality of Construction:

  • From the labour employed to the materials used in construction, reputed builders will always provide the best
  • A brand name builder would never compromise on the quality of service and infrastructure because that is precisely what defines them
  • Strict quality control measures are enforced at the site. The labour employed is skilled and efficient. Skilled engineers and professional architects are employed to oversee the construction.

On-time Delivery:

  • You can rely on the brand name builder to give you the tentative completion date. It also helps you prepare for the housewarming well in advance.
  • Even if there are delays caused by natural calamities, the builder has mitigation measures in place
  • They are also likely to have the funds to weather through the lull
  • They will do their best to deliver on time, and any anticipated delays will be informed in advance. 

At TMR Group, we have strict quality control measures in place to ensure excellent quality of construction and provide transparent procedures that are dedicated to serving you with utmost clarity. Our well-developed projects are strategically placed and our gated community plots in Hyderabad are best in class. Visit www.tmrinfra.com to know more about our projects and you can also schedule a site visit. Reach out to us, today!

How are land loans different from home loans?

How are land loans different from home loans?

Investing your money in real estate is a milestone in your life and believe it or not, it is bound to change your life right from the next instant. It doesn’t matter whether you are a first-time investor or not, it’s extremely important to know about loans and how they ease the entire buying process for you. Buying a home or a plot of land may not seem different to most and both are usually considered as a home loan but it’s important to consider the differences while applying for the loan. Although the terms and conditions, the application processes, and the tenure of both the loans are quite similar, there are some fundamental differences between home loans and land loans. The most important factor when it comes to home loans is eligibility. Let’s check out the difference between home loans and land loans.

Home Loans 

Home loans are availed to the eligible people for the purchase of residential properties that are to be constructed in the future, or for under construction, or for ready-to-move-in properties.

  • You can get a home loan to any type of residential property in any location of your preference
  • Any resident of India and NRI’s are eligible for home loans
  • The maximum tenure of the home loan can be 30 years
  • If both the husband and wife have separate sources of income are co-owners of the property, both can claim an income tax deduction on the loan separately
  • Tax deductions can be availed for both the principal and interest payments
  • The loan-to-value (LTV) ratio is between 75% and 90% of the total cost of the property, depending on the lenders
  • Interest rates are at an all-time low ranging between 6.65%-8.00% depending on the lenders

Land Loans

A land loan can only be used to buy a plot of land that has been earmarked for residential real estate construction.

  • The location for the plot should be within the limits of the municipality or the corporation or in industrial or rural areas
  • Only residents of India are eligible for land loans
  • Land loans cannot be used for the purchase of agricultural land
  • The maximum tenure of the land loan is 15 years
  • No tax deduction for the purchase of the property, the tax deduction is only eligible for construction of the property on the plot and can only be claimed after the completion of the construction
  • The loan-to-value (LTV) ratio is up to 75% which means that 70%-75% of the total value of the property will be provided as a loan
  • You can avail of a plot loan to purchase a plot through direct allotment or to buy a resale plot, depending on the respective lender
  • The interest rates are about 0.75%-1% higher than the home loans

At TMR Group, we aim to bring promising ROIs in the shape of RERA and HMDA approved plots in Hyderabad. Our projects have precisely designed layouts in the most sought-after locations of Hyderabad that have a great potential to multiply your investments in the upcoming future. Check out www.tmrinfra.com to know more about us and our work. Get in touch with us!