Tag: Row Houses

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 That amount can be withdrawn at any time.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.

All you need to know about plots

All you need to know about plots

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When it comes to buying a plot in India, the formalities and the rules and regulations are aplenty. India is a land (quite literally) predominantly of farmers and businessmen or farmers-turned-businessmen, and rarely the vice-versa is true. Therefore, the need to grow from a regular agricultural land is quite normal. In this blog, we would speak in detail about different kinds of plots and how they fare in today’s market.

Agricultural Plots

Also known as farm plots or open land, these land parcels are used exclusively for agricultural activities. Agriculture, being the major contributor to the Indian economy, the amount of agricultural land available in our country is humungous. Keeping the controversies aside, the recent farmer’s protests might have also brushed up our knowledge in this particular area.

There are certain dos and don’ts when it comes to buying or selling agricultural lands. You are prohibited to develop residential or commercial projects in that plot. You are not allowed to sell it to anyone who is not a farmer. If you intend to sell it to someone who isn’t a farmer, you must put your land up for N.A. (Non-Agricultural) conversion and then once the conversion is done you may sell it to anyone. This brings us to the next kind of plot.

NA Plots

Just as the previous sentence said, NA refers to Non-Agricultural land and these plots can be used for residential or commercial purposes. By default, every land in India is defined as “Agricultural Land” unless until it is defined by some other purpose. In case the land is defined as NA, it’s not just for residential purposes. It can be classified further into these categories –

NA – Commercial

NA – Warehouses

NA – Resort

NA – IT

NA – Residential

Caveat emptor: Many real estate builders use deceptive terms such as “Proposed NA” to lure buyers into a honey trap. There are quite a number of cases where the land has taken more than 10 years to get the NA status.  Let’s dive deep into the NA – Residential plots as there are many other categories where the land can be divided.

Residential Plots: These plots are unique for those who wish to build an independent home as per their taste.

Apartments: The real estate builders who wish to construct a cluster of the housing complex usually in high-rise or low-rise buildings can choose this category.

Villas/Row Houses/Bungalows: These residential plots come under the premium category as they are spacious and luxurious projects available at a higher rate than the usual because of space, location, etc.

Builder Floor: This allows a person to own an entire floor for independent living. These kind of spaces cost a bit higher than apartment floors and a bit cheaper than the bungalow plots.

With a legacy of more than 15 years in plotting, TMR Group has become a renowned brand in and around the region of Hyderabad. The brand offers clear title agricultural and NA plots for everyone in the country and even overseas to invest, make a living and progress with prosperity. The gated community projects ensure that your plots are safe and secure and you do not have to worry about their maintenance for at least a decade. That’s the TMR promise.

Why Investing In A Gated Community Plot Is A Wise Decision.

Why Investing In A Gated Community Plot Is A Wise Decision

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It is always better to be ahead of time in every aspect, especially considering current market conditions. Proper investment is one of the most reliable ways of getting ahead in life and also a dependable asset in times of crisis. After all, when life surprises you with an unexpected emergency, this investment plays the part of a protector thanks to its appreciated monetary value and helps us in managing the situation well.

It is an undeniable fact that our luxurious lifestyle is shouldered by financial independence and long-term planning! The period of inflation has encouraged real estate investment. Moreover, your very own land is just as good to live today and also the best option for a secure future! The real estate industry is coming out as a promising investment sector that provides opportunities with great returns!

The qualities we look for in an ideal investment opportunity are:

  • Affordability 
  • Long-lasting
  • Value appreciation
  • No extra charges
  • The privilege of personalization
  • Fewer hassles

Whenever we mention these points, the most suitable investment opportunity that comes to our mind is a plot. Investing in plot is the most flexible decision to make as it gives you the power of making decisions like you can play with the design of your home, size of your garden, rent it out or resell it or even run a business! The decision is solely yours. So comparing all the factors, it is proven that investing in an open plot is the wise decision to make.

Here are some advantages of having gated community plots:

Liquidity

The land will always be high demand, as no one producing that asset, and it appreciates in value over time passes. The demand and supply equation always works in the favour of open plots, you can easily get double the amount in resale than what you purchased years back. Everyone needs shelter to survive and land is certainly a limited resource.

Value appreciation

The availability of space is a rising issue, which results in the unbelievable growth of properties’ prices. The flat and villas also need land to build upon. An apartment may lose its value over time but the plot appreciates with every passing year. Therefore owning a plot in a convenient location is believed to provide faster price appreciation. As the landowner, you have the power to build as per your requirements that would eventually help increase the cost of land.

Fewer hassles – No extra charges is a blessing that only plots for sale provide. Plots require little or no maintenance cost. It can also be called as freedom from financial obligations. After you haveinvested in a plot, you can conveniently sit back and relax. Plotting projects get delivered on time and what can be better than making less investment and enjoying maximum returns!

Long-lasting investment – Age doesn’t make any difference. As land becomes scarcer, the supply-and-demand equation works in your favour. A building will depreciate with time, but the land will not be affected this way.

More perks – Nowadays the real estate developers also offer impressive infrastructure, convenient amenities and excellent connectivity to the rest of the city. Make a sound investment by booking a plot with TMR Group, whose Residential plots in Hyderabad are gaining momentum due to complete customer satisfaction. These gated community open plots feature HMDA approved layout with electricity, the overhead water tank, and underground drainage.

Buy RERA approved plots withTMR Group and experience a quality lifestyle with definite growth in returns!

Investment plots

Is It Safe To Invest In Land?

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In the great pursuit that is life and happiness, what is it that we are looking for? – A little more!

Expecting a little more is quite normal! A little more in amount, a little more to invest, a little more to spend, a little more space to live, a little more to sustain. Life is all about aspiring for a little more! 

In the current scenario, we are seeing growing interest among the young generation regarding investments, and by observing the current market conditions, one should not hesitate to invest and convert their hard-earned money into a profitable investment by owning land! 

The legendary humorist Mark Twain had famously quoted that “Buy land, they are not making it anymore!” Land is a scarce resource and investing in land proves way more beneficial than any other investment option, and it’s far better than converting your capital into stocks. There are many pros of buying a plot for sale in any promising location rather than going the BHK way, where you can hardly craft your imagination into your own thoughtful home. In this ever-evolving market of real estate, the dynamics are continuously changing but land as per investment perspective remains intact. Moreover, buying a plot is like sowing the seeds of prosperity for your secure future by creating a dream-like home that lasts for generations. The land is relatively lesser in cost but appreciates more in value than others when it comes to investments. When compared too residential properties and a plot has a better resale value that usually makes us decide in favor of investing in land of Hyderabad. 

Plots are delivered without any hassles and faster than apartments. Besides, there is very little or no maintenance required which saves a lot of costs across the years.

Plot prices vary with locations, size and available space. Prices of land appreciate faster than other properties. Land prices are bound to appreciate if the basic infrastructure around the property grows, thus ensuring higher returns on investment. Hyderabad as a city is emerging as one of the most bustling locations of India. In terms of industrialization, the widespread growth of big MNCs settlement like Amazon, Johnson & Johnson, is itself considered to boost the fast growth of the city and its peripheral areas.

2020 marks the beginning of a potentially promising era in real estate of Hyderabad. In the real estate industry, Hyderabad is observing a big jump in land investment with the emergence of lucrative plotting projects. Better infrastructure is aiding the development of the real estate sector of Hyderabad, effectively helping consumers enjoy exceptional returns as well. 

Investing in lands of Hyderabad seems quite safer and effective, as it provides varieties of safe buying options. The growth of e-commerce leads to the construction of warehouses or co-working facilities and these in turn increase the demand for residential plots for lands. This is how plots are gaining prominence as a source of investment and achieve a little more. The yields on these investments are heavenly satisfying.

TMR Group has rewritten the rules of real estate game by beautifully converting barren lands to dream spaces. With their focused execution, TMR has set the bar quite high and has won the consumers’ hearts by providing the best areas to invest in Hyderabad. With complete transparency, TMR is accomplishing customer satisfaction by providing RERA approved residential open plots in Hyderabad and ensured that it is the best place to invest in Hyderabad. By investing in TMR Group plots in Hyderabad, experience a luxuriant way of living in the serene locations of Hyderabad.

Ideal land for constructing a house

Does Your Plot Land Fulfill All These Ideal Categories To Build A Home?

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A plot is a place that you can proudly call your own, a place to design, and a place to develop. Your land is your space to build your dream and leave your memorable legacy on Earth, no matter how small it is. Our house is the place where we spend half of our life. It is universally accepted that our property plays a vital role in our life and can make or break our peace of mind.

Does building a dream home through residential plots open the door for great returns? Certainly. While some may think that rapid urbanization has somehow crushed the idea of serene bungalow or villa homes, having replaced and modified it into the restrictive form of a BHK. While this may be true in certain inner-city areas, newer developments around the outskirts are flourishing and that’s why buying land for sale and building a home over there becomes more feasible.

Go through these important parameters to consider while scrutinising a plot land for sale:

What are the conditions and zoning requirements of the property?

For your family safety and security, it is wise to analyse the area and its surroundings. Checking with local authorities- including city, stations, background, and past incidents give an idea about the connectivity, development, progress, environment, etc. of that particular area. All together it will give you a report card of that particular area, past, and future ahead. Before committing to purchasing land, it is imperative that you get to know about all the possibilities. 

Are your documents are pre-approved?

Updated documentation of any land for sale is the foremost thing. We all know about the concentrated monetary flow in the real estate market and that somehow blatantly increased the corruption in this sector. So, disputed lands have too many problems regarding their clear title, HDMA approved layout etc. It is better to cross-check before committing to any projects. Make sure you have the following things checked: Is it under encumbrance certificate or not? Are the plots are DTCP, RERA approved? Do they have Vastu compliance?

Is the proper infrastructure in place?

It is impossible to imagine life without basic conveniences like the availability of water, electricity, cable, and gas, etc. Accessibility to these sources should be nearby; in addition to well-planned transportation facilities that keep you connected to the important business & lifestyle centres across the city. Healthcare centres, educational institutes, and recreational establishments should also be there! Urban dwellers are often shifting to the periphery of cities, as they got bored with the same problems of crowd & traffic etc. For settling down, everybody looks for comfort and this kind of serene luxury can only be experienced with your own land.

Have the local bodies given all the necessary approvals?

Verify whether the plot or the entire layout has been approved by the City Development Corporation and the local body. Ask for the necessary approval documents and if possible get it verified by a lawyer. In case of a large layout where builder plans to develop the plot, ensure that the planning permission and building approval has been obtained from the City Development Corporation.

These are the essential procedures of the buying process which every plot has to go through. We at TMR Group have redefined the dynamics of transforming barren lands into the best plots in Hyderabad. Take a glimpse of serenity through our video gallery.  With extraordinary facilities, infrastructure and transparency, TMR Group has already set a benchmark when it comes to plot for sale in Hyderabad. Through stellar projects, we have revolutionised the real estate market of Hyderabad, India.  TMR Group offers gated communities in the bustling yet soothing peripheral areas of the city, through municipality approved, well-developed and state-of-the-art plot lands in Hyderabad. Buying lucrative plots by TMR Group is indeed full of advantages and fits in your budget. Providing complete customer satisfaction, we ensure that our projects are the best place to buy land in Hyderabad- Check out our ongoing projects, witness how we created dream spaces by reshaping the face of barren lands. Build a home in the amazing plotting projects by TMR Group and find out, how we have sown the seeds of future prosperity.