Tag: Terrain

Tips to avoid land frauds while investing in plots!

admin Leave a comment

Like any other industry that involves heavy transactions, real estate is also susceptible to frauds and scams. Investing in real estate is a life-changing decision that takes up a big chunk of your hard-earned money and obviously, you wouldn’t want to get scammed. There’s immense pressure on you to make the right decisions regarding your investment and avoid frauds simultaneously. Since the introduction of RERA (Real Estate Regulatory Authority) in India, the number of frauds and scams has reduced by a lot but still, it’s important to know the different types of scams or fraud attempts that you can come across.

Types of Land Frauds

  • Delay in the time of delivery is one of the more common types of fraud where the project is not completed as per the promised time
  • Uninformed changes in the specifications mentioned in the agreement
  • When sale and deeds are executed before the necessary licenses and permissions for the construction of the building are procured
  • Hidden clauses in the agreement that could affect the buyer
  • Disputes in the ownership of the land ultimately put the buyer’s investment in jeopardy
  • Real estate agents may overcharge for a property under false promises of high returns and quick development
  • There are times when the same property is sold to numerous buyers
  • Sometimes a random person might pose as the owner and execute the sale

Tips to Avoid Land Frauds

  • Never rush into a real estate investment. Do your research. Tally the real estate rates from multiple sources and make sure you are being quoted the right price for the property. Real estate developers may cunningly tell you that there are only a few units left and you need to quickly decide, or offer you discounts for booking quickly. However, it is at your discretion to take your own time to check and decide.
  • While choosing to invest in an underdeveloped area, make sure that the area is going to develop in the future. You can check the potential of the land by calculating its distance from the airport and its proximity to growing industrial sectors as some areas do not develop even after two or three decades.
  • There’s no harm in taking advice from experts in the market
  • Never buy the property because the images online or the brochures look good. Make a visit to the site and see for yourself and speak to the locals of the area like shopkeepers and petrol pump executives.
  • Check the track record of the developers thoroughly and don’t shy away from asking for references of previous buyers as it helps you confirm their reliability. Online reviews are a big help too.
  • Ensure that the project is approved by banks for loans as that indicates authenticity because banks only approve the projects after a thorough inspection
  • Ensure that the ownership of the land is clear and ask for copies of permissions, approvals for the project, as well as that of the title deed
  • Examine the documents carefully, multiple times, and understand every clause and its implication. Have the documents read by a legal expert who can help you out and if any discrepancies are found, speak to the developer to get them changed or back out from the deal.
  • Ensure that the timeframe of the construction is clearly mentioned along with a delay clause that benefits you if the project is delayed
  • Most importantly, always purchase properties from reputed builders and ensure that the projects are regulated by the respective authorities such as RERA, HMDA, and DTCP as this adds an extra layer of security, protecting you from frauds and scams

At TMR Group, we offer clear-title open plots in Hyderabad. The projects are registered under RERA. The well-planned layouts accommodate DTCP and HMDA approved plots in Hyderabad. We prioritize the quality of development and complete our projects’ top-class amenities that are likely to improve your ROIs. Our projects are thoughtfully placed in locations that have tremendous potential to grow and are well-connected to the airport and the rest of the city. Visit www.tmrinfra.com to know more about us and book a site visit today!

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

admin Leave a comment

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. 

Can a property be mutated? A beginner’s guide to property mutation!

admin 6 Comments

Over the past decade, the city of Nizams – Hyderabad has emerged as one of the largest employment hubs of India and has been the center of tremendous developments. Standing strong as the home to the second largest number of SEZs in India, Hyderabad has attracted several migrations from all over the country owing to the vast expanse of opportunities. This massive inflow has generated a demand in the real estate sector. One thing that makes Hyderabad a worthy hub for investment is the presence of properties that cater to everyone, from affordable properties to premium luxury options. The infrastructural development of Hyderabad is top-notch and the developments of the city have taken their spot on the global stage.

About Property Mutation

Mutation of property is the process of changing the title ownership from the original owner to the new owner when an immovable property is transferred or sold. It needs to be carried out in all cases of property transfers, be it by sale or purchase, gift, or inheritance. As land is a subject of the state, each state has a record of all land and property deals that act as proof of ownership and help the common man safeguard their property investments. All the information regarding land records is registered and this minimizes the potential for property-related frauds.

After the process of mutation, the new owner obtains the title of the property registered in the land revenue department. It enables the government to charge property tax. The process of mutation further helps the government in determining the tax liability in the case of a change in ownership.

Process of Mutation

Mutation of land takes place in the Block Land & Land Reforms Office.

  • The applicant must apply for property mutation in the prescribed format and be physically present at the office along with all relevant documents
  • The departmental authority can conduct physical verification of the property as a precaution
  • Once the government departmental authority accepts the land documents, the certificate of mutation is issued after the payment of prescribed mutation fees
  • It can take up to a month for the municipality to update its records to show the changes in land ownership and issue a mutation certificate
  • With the technological developments of the country and the digitization of land records in most states, now the process of the mutation can be done online

Is Property Mutation Mandatory?

Property mutation is not mandatory, but the process should be completed as early as possible to ensure that the property is in one’s name in government records.

  • A person needs proof of the mutation when the person plans to sell the property in the future and not having mutation papers can affect your chances of selling the immovable asset
  • As the penalty for not completing mutation is very less (₹25-₹100), most people choose to postpone the process
  • It is legally advised and is safe if the property mutation is carried out immediately after the purchase is done from the point of view of the transfer of ownership
  • Property mutation charges differ from state to state but are in the same range
  • Mutation of property is not a one-time duty as these papers must be updated from time to time. A regular update ensures the authentication of your property records.

At TMR Group, we offer well-planned plots in Hyderabad that are strategically placed in great locations with amazing potential to multiply your investments. Our HMDA approved plots in Hyderabad are built with modern infrastructure and quality amenities that are installed for your utmost convenience. Visit www.tmrinfra.com to know more about us and our brilliant projects, and get in touch with us for site visits!

How are land loans different from home loans?

How are land loans different from home loans?

admin Leave a comment

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!

TREDA – The driving force behind Telangana’s real estate’s progress

admin Leave a comment

The Telangana Real Estate Developers Association – TREDA which was earlier known as APREDA marked its presence in the year 1995. The association today majorly comprises over 300 members who are renowned builders and developers in the region.

Why does Telangana need TREDA?

In the past few years, TREDA has evolved to be the knight in shining armor for the government. It has played an instrumental role in formulating various policies that are in favor of the real estate developers. TREDA has also helped to establish certain Development Control Rules (DCR) and has proudly pioneered a comprehensive model to aid the general public and the real estate developers in Telangana.

TREDA has also been quite proactive along with the authorities to help rationalize taxes and fees such as stamp duty, registration, service tax, VAT, etc. These measures have benefitted the real estate developers and the stakeholders to a significant extent.

Along with these proactive measures, TREDA has also proven to be an effective marketing channel to real estate developers by organizing various property shows, and influencing vendors and banks to be an integral part of this value chain.

How has the journey for TREDA been?

TREDA has been quite a disseminator of knowledge by carving out a niche for itself in a span of just 15 years.

2011: TREDA delegation visited the Canton Fair in China & it was a landmark in itself

With some of the prominent initiatives taken by TREDA in the due course, here are the few of the initiatives that were taken in knowledge partnership –

2012: Organised a conference on “Real Estate – Accelerating the Growth Story”

2013: Organised a conference on “Staying Ahead in Real Estate – Innovative Construction & Understanding Taxation”

2014: NAREDCO & TREDA organized a Trade Mission to Turkey for Turkey World Trade Bridge / Fair (TWTB) 2014 with a special focus on Construction and Construction Materials, Furniture & Related Machinery

What TREDA means to society?

TREDA has actively been contributing to the welfare of society by building homes for the flood-affected and tsunami hit families whose lives were devastated by the calamities. TREDA also played an influential role in taking up the beautification of both the entrance roads of Hitex and HICC, Hyderabad, ahead of the UN-supported CoP-11 summit. TMR INFRA as a dynamic member of TREDA has been playing its part as an essential element in the growth and development of Hyderabad & Telangana as a newborn state. Being a proud member of TREDA, TMR Group believes that such associations help real estate developers to boost their business and establish an engaging relationship with customers through property shows and many such events.