Era of Reverse Mortgage shall start soon

Senior citizens shall be allowed to use their residential properties even after mortgaging same to the banks or finance companies. National Housing Bank is planning to provide some regular source of income to the senior citizens.

Such citizens, who have crossed the age of 60, shall be able to gain profit of this scheme such as buy property in India. According to the reverse mortgage guidelines released by the NHB for seeking public opinion as far as property in India is concern, the senior citizens may be paid up to 60% of nonrefundable-loan of buy property in India against the market value of their property. However, the amount paid to the owner against mortgage of his house, will also increase along with the increase in market value of his property. After the death of property owner, the bank or finance company shall recover the loan along with agreed rate of interest by selling the mortgaged property. The balance amount, if any, shall be paid to the family members of the deceased

india real estate

Indian real estate is one of the main themes of diversification for national and multinational investors with particular emphasis of buying residential & commercial property in India. The main reason behind this logic is that the economy of India has achieved a sustained growth and further progressing day by day in all fields’ i.e. industrial production, information technology, agriculture, buy property in India travel and tourism etc. On top of it, the big businessmen of India have given a catalytic effect to its economy by purchasing big industries through out the world in recent past in these days.

India has become a new market for foreigner investors due to its economical growth rate.

Buy property in India tourism sectors, hotel industries, medical sectors, telecom sectors, IT sectors and also small industries are showing sustain growth.

Retail real estate buy property in India is booming too. The end of 2008,66 will add million sq ft of retail space in the nine largest Indian cities, and 14 million sq ft in the next eight largest cities.

India will also need 12 million new housing by the year 2030, according to a projection by Asian Development Bank.

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Tourist arrivals rise 13.6%.

Tourist arrivals in the country rose 13.6% in March from a year ago, boosting foreign exchange earnings from the sector by 16.2% to $ 636.05 million, the government said on Monday. Visitors rose to rose to 4, 43,976 in March, compared with 3, 90,824 in the same month last year, it said on its website. Tourist arrivals since the start of January totaled 14.2 lakh against 12.4 lakh in the same period last year. Which indicated the possibility of increasing buy property in India?

Cabinet to take up rehabilitation policy.

New Delhi: The much-awaited relief and rehabilitation policy for farmers displaced by land acquisition for industrial projects and SEZS which is a part of buy property in India will soon be taken to the Cabinet. The Concerned department has sent the draft of the policy to the law ministry. After it is vetted by them (law ministry), we will take it to the Cabinet in a matter of days,” minister for rural development Raguvansh Prasad Singh told reporters here on Tuesday. Singh indicated that compulsory land acquisition for industrial projects & SEZs, would not be allowed “at any cost” in any cost” in the policy for better maintenance of property in India.

Shortage of Hotel rooms looms large.

There is good and bad news this Sumner for the travel and tourism industry in India. While on one hand the country has notched a place above France in terms of average earning from foreign tourists, the shortage of one lakh hotel rooms is seen to persist well beyond the year 2011. Indian tourism Industry and property in India sector are trying to fill requirement. Therefore the investors are concentrating to buy property in India and making necessary preparation for it.

On an average India earns Rs. 65,085 from every foreign tourist, which is three times more than what the tourist spends in France and nearby double the global average earning which is Rs. 37,570. The earning appears to be more in India from the fact that as an average tourist tends to stay longer because of the size of the country and the variety of attractions here.

Tourism industry is also affecting other sectors. The commonwealth horizon is influencing demand of buy property in India.

Significantly, a recent report by the Madrid based world Tourism Organization, has found France and Spain to be the two most visited nations in 2006 while China tied with us for the third position. But with the tourist arrivals witnessing a growth of 15 to 20% annually, the hospitality industry as the needs to create adequate infrastructure to balance their needs and increasing demand of buy property in India.

QUALITY : WHETHER REALLY STURDY

I. Every builder claims to use high quality of material, but you also ensure the quality of construction before buy property in India.
II. To know the quality of material and finishing of the flat/ building arrange a visit along with an expert particularly concentrate on flooring, plumbing, windows and wiring because these will directly affect you daily life.
III. Before buying property in India don’t forget to see the ventilation, room placement in the house and lift facilities in the building.
IV. If the property in India, which you are buying, is located in a big complex, then look at the layout plan of each building of the complex.
V. To know what type of material is being used by the builder, few of his past projects can be seen.

BUILDER’S STRENGTHS

To buy property in India a house is the biggest ever investment of a common man, where in whole life’s hard earned capital is at stake. Ignorance of certain constituents may spoil your hard earned money. Please ensure before buying a property in India that you are investing in a right property or not. While to invest in a house is an important decision, it is equally difficult also. Therefore do not make haste in buying a house and take care of the following aspects:-

v BUILDER’S STRENGTHS

a. Before buying a buy property in India, first of all check whether the builder is having a marketable title of the land, the builder must have constructed the building on such land which must be free from all encumbrances. This will avoid you from all hassles in future.
b. To ensure credibility of the builder, check since how many years the builder is in business of buy property in India.
c. Ask the developer whether any kind of after sales service will also be provided?
d. Whether the builder has completed his past projects in time or not and what has been the quality of those projects? Or if you face any problem about the house after making help full payment whether the developer will you in that eventuality.
e. Enquire about the reputation of builder from financial institutions, brokers, friends and his present customers.

v LOCATION : WHAT IS IN THE VICINITY

1. Before finalization of deal of the house, check its location. Ensure whether the public conveniences (like railway station, bus stop, and hospital etc.) are at the same distance as claimed by the builder.
2. It is better if the hospital, school, market and temple etc. are at a walking distance from the house. If the same are at a little distance, then what are the sources to reach them?
3. Ensure your house is not located in a polluted area.If an industrial or slum area is nearby, then it is sure that level of pollution will be high there.
4. Along with location, infrastructure is also an important factor. Do not be impressed only by location, but ensure electricity and water supply, sanitation and drainage are also proper.
5. You can also assess the future development based on the latest trend of market.. Possibly, the cost of your property may increase several folds.
v AMENITIES : HOW ENJOYABLE ARE SAME.

a) A building is fitted with various luxury facilities and to inspect same depends upon as to how much you are fond of their usage.
b) If swimming pool and health club is a part of your life, then ensure before finalization of deal that the same are available or not.
c) To day each and every developer claims to provide better facilities over the other, but don’t believe in their claims and check availability at the time of taking possession.
d) Enquire, what facilities are being provided for marketing. garden and sports.