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Home Loans Suggestions
by Harsh Vardhan Roongta
My husband and I have taken a joint home loan in June 2008 for an under-construction house. We got possession of the house in September 2010. We have been paying pre-EMI so far. We stay in a rented accommodation and plan to shift to the new house in April 2011. For the current financial year 2010-2011, can we claim tax benefits on the pre-EMI amount in addition to the tax benefit on rent paid?
-Samarth Shah You can claim full tax deduction benefits in respect of interest paid during the year in which you take the possession of the under-construction property. Therefore, in your case the entire interest payable for the financial year ended March 31, 2011 (including the interest payable from April 2010 till the date of handover of possession in September 2010) is fully deductible under Section 24. In addition to the interest paid during the financial year 2010-2011, you can claim 1/5th of the pre EMI interest paid/payable till March 31, 2010. You can claim HRA provided you have actually paid rent.
Claim of HRA is not linked with tax benefits on home loan.
We would suggest that you take the new house in a livable condition and actually stay there for a few days before March 31, 2011. This will ensure it is treated as a self-occupied property and the annual value is taken as nil.
I had taken a home loan four years ago for 20 years. Now I want to transfer the loan to my brother. 1. Do I need to make a new agreement to transfer the home loan. 2. Will it be wise to transfer the loan or gift it to him (If possible)
Sharad Das You cannot `gift a loan' or `transfer a loan'. You will need to pay off your existing loan fully and your brother will need to purchase the property and get a new loan on it. You can sell the property to your brother, but change of ownership will have stamp-duty implications. It is possible that your existing bank may agree to provide the loan to your brother based on his income documents and he can use this loan to pay you off which in turn can be used by you to pay off your loan to the bank. Please note that if you transfer your house within five years, the income tax benefits availed by you, in respect of principal repayment allowed to you under Section 80 C will be treated as your income of the year in which you transfer your property. Can I change my EMI after paying some installments?
Rahanna Khan You can change your EMI provided the lender agrees to these changes in your installment pattern.
How is the pre-EMI calculated?
Shikha Sood Pre-EMI is just the interest portion of the loan calculated on the loan amount disbursed and does not have any principal component of the loan. Pre-EMI interest is paid for a loan taken for an under-construction property.
Harsh Roongta is CEO, Apna Paisa. He can be reached at ceo@apnapaisa.com
Courtesy HT Estates Dtd:- 16/10/2010
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RENT-OUT AND MAKE PROPERTY WORTH THE INVESTMENT
Some factors that help you rent out your property
The ideal way to make use of your property is to rent it out. Renting out enables you to earn a regular income, and at the same time helps you pay off your home loan comfortably. You can also think of investing in a second home while you get rental returns from your first home. However, you can make the rental income worthwhile by keeping in mind these factors before renting out your property:
Location
The location of your property can make or mar the chances of getting a good rent. Location is the most significant factor that tenants look for while they scout for homes. Proximity to the workplace, children's school, medical facilities and shopping centres are often the essentials that tenants look out for. So having a home in areas close to the IT belt in the city, and with connectivity to the ring road and other major roads, will be an added advantage for you. This enables you to command a higher rental.
Spread the word
It makes sense to advertise. When it comes to the text in your advertisement, make sure you capture the reader's attention by making your rent competitive, give details of the size and quality of accommodation, and its location. Use the three best assets of the property in the first sentence of your advertisement. Also, use the < a href=" http://www.zameen-zaidad.com/ASK_FOR_FLAT_RENT.aspx">real estate agents to spread the word about the availability of the property for rent.
Once the house has been straightened out, develop a list describing what makes the house appealing. Take note of those commonly desirable features
such air conditioning and
garage. Use rental terms to help 'sell' the property. Words and adjectives that really help you get a tenant include 'state-of-the-art', 'stainless steel appliances', 'vaulted ceilings', 'marble floors'. Be sure to use any and all of the terms that apply to your home.
Arrive at rent
Fix the rent by learning what other rental properties are going for in your neighbourhood. Remember, potential tenants will be scouting around for deals, so set the rent at a competitive price and make sure you highlight all the < a href=" http://www.zameen-zaidad.com/ASK_FOR_FLAT_RENT.aspx">most valuable aspects of your home.
Furnishing and amenities
Better and fairly well-maintained buildings would fetch a better rent. Also, if your apartment has a range of recreational facilities available, tenants with families would be looking at such facilities to rent. Properties with a good range of amenities provided are popular, affecting the rental value of an apartment.
The condition and the internal maintenance of an apartment, including the choice of furnishings, would again play an important role in determining the rentals for the property. The layout of the premises in terms of optimum space use in an efficient manner, terrace or a balcony, availability of maid's room and toilet help the premises score. The level and storey of the apartment, unobstructed view from the apartment, vehicle parking spaces available, and security features, recreational facilities like a swimming pool, gymnasium, children's play area would also play an important role in determining the rental value of the premises.
Screen tenants
You need to be able to depend on this person not only to pay the rent on time, but also to keep your home in good condition. To know more about your tenant, consider references from previous landlords, banks and employers. Ask the tenant for his company photo ID card to make sure he is still employed there.
Lease agreement
Once you and the tenant have agreed on the rent, a security deposit, a term and have settled the details, make sure that you have a good lease agreement. This lease agreement should be made on a stamp paper and should encompass all the terms and conditions between you and the tenant.
It is better to periodically evaluate the rent and extend the lease on mutual agreement to avoid complications and legal hassles.
Courtesy:- times property dtd: 09/10/2010

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Incorporate storage space in your home to free-up the rest of the space
Proper storage planning gives form to a house. Depending on the storage, the rooms take shape and build up its own personality. The trick of the trade, however, is to have unobtrusive storage that will actually stand out as much as a fly on the wall. The best kind of storage spaces operate on principles like easy access, maximizing space and smart ideas that are innovative and useful.
Built-in storage
All rooms including the kitchen and bathrooms do well with built-in cabinets that can take in a lot of things. Details like shelves within the cabinets, drawers and pull outs should be incorporated to give more flexibility in storing things like clothes, footwear and so on. Beautify storage units with embellishments like grooves or patterns on shutters, mouldings and smart handles that will complement the overall look. Some prefer to 'duco' (lacquer finish) the shutters in bright colours to bring in vibrancy to the room. Built-in storage works wonders in awkward spaces and for areas with plenty of dead spaces like below the staircase. Storage can also be built around an exposed column or below a window ledge. Builtin storage designed innovatively can take in gadgets like television, computer and in some cases can even conceal an unwanted alcove which can then be used for storing big items like steel cupboards or bar fridges.
Stand-alone
Handy storage can be standalone variety or even small built-in nooks that can hold things. Walls can take ledges, open box frames and shelves to create interesting display cum storage options. Small shelves with decorative brackets can double up as bedside tables freeing up a lot of space. Storage units under beds can store bed covers and linen. Drawers or shelves below a mirror can serve as an independent dressing unit. Vertical shelving units made attractive with smart shutters can be used as pantry units in the kitchen. Ascending shelving, open or boarded from behind, are ideal for the area along the staircase banisters and can be used as bookshelves or as display units. Cabinets below the vanity counter and corner glass shelves will provide much needed storage in the bathrooms. Sideboards can act as dividers between the kitchendining or between the livingdining and provide storage space for crockery and cutlery. Shelves in the utility
area can double up to store all housekeeping paraphernalia. Granite slabs can double up as heavy duty storage in balconies, terraces and utility.
Lofts
Lofts act as convenient storage for things that are not required frequently, like suitcases or woollens. Having lofts over built-in cabinets in bedrooms will take in a lot of such articles. Lofts in the kitchen can come in handy not only in providing space to keep things but also conceal the exhaust pipe from the chimney if required. Make the lofts more appealing with attractive cornices. Wall niches also take in plenty of things and can be jazzed up with attractive shelving and colourful backdrops. Overhead lofts built over bathrooms or common corridors can conceal a lot of things and
are handy in storing even extra furniture. Floor to ceiling twoway shelved partitions act as handy dividers between two living spaces eliminating the need for a wall.
Furniture
Most furniture try incorporating some storage for utility purposes. Beds and sofas come with storage, wooden chests apart from being decorative lets you store plenty of small trinkets, study tables come with cubby holes and shelves for added storage, centre tables and dining tables have drawers that let you store table mats and coasters and display cabinets may have pullout units that swing outwards to allow for more storage. Pick what works for your home. It is always a good idea to first understand what the space needs and only then shop for such furniture.
Courtesy:-Times Property 02-10-2010
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Share what's interAnthem Infrastructure Pvt. Ltd. launches a new residential apartment project at Noida Extension
Anthem Infrastructure Pvt. Ltd. launches a new residential apartment project in noida extension. The project is named as French Apartments. This project comes with 2BHK and 3BHK and 4BHK residential apartments with all the luxurious facilities for a common man at a very reasonable cost. This project comes with a various types of residential apartments in their projects-
1- TYPE 1 – 2BHK+2 Toilet
2- TYPE 2 – 2BHK+2 Toilet + Study
3- TYPE 3 – 3BHK+2 Toilet + Store
4- TYPE 4 – 3BHK+4 Toilet + Study
5- TYPE 5 – 4BHK+5 Toilet + Servant + Dressing
This project offers the finest accommodation options and facilities that make living a pleasurable experience.
Those peoples who want to be a part of this project for that “Anthem Infrastructure Pvt. Ltd.” provide payment plan for their project. On booking you have to pay 10% of the amount. Here are some details of preferred location charges.
1- Park/Pool Facing – Rs. 50/- sq. ft.
2- Corner Facing – Rs. 25/- sq. ft.
3- Lease Rent – Rs. 60/- sq. ft.
4- Open Car Parking – Rs. 100000
5- Power Backup – Rs. 15000
There are various features available with this residential apartment project like, two sides open corner plots, Grand Eiffel Entrance, Wi-Fi Network, Efficient Utilization of the space, 24*7 Security and many more.
At the time of payment the cheque/bank draft is made in the name of “ANTHEM INFRASTRUCTURE PRIVATE LIMITED” payable at Delhi only. If you want to contact agent then you have to contact “Shri Aditya Estates”, contact number is 47082734 and 9810445860. The route map is also mentioned in our site. If you want more details regarding the price sole and this project then just visit our site www.zameen-zaidad.com you have any query regarding this project then feel free to contact us at info@zameen-zaidad.com.

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Amrapali Group Launch a new project on independent floor at Greater Noida.
Amrapali Group launches a new project named as “Amrapali Centurian Park”. They provide you the facility of “ Independent Floors”. This project is located at Greater Noida. Their project provides three types of “Independent Floors”. They are-
 Type – 1 contain 2BHK+2Toilets with area (approx) 1055 sq.ft.
 Type – 2 contain 3BHK+3 Toilets with area (approx) 1535 sq.ft.
 Type - 3 contains 3BHK+3 Toilets +Servant with area (approx) 1675 sq.ft.
Those peoples who want to be a part of this project for those peoples “Amrapali Group” provide two types of payment plan-
 CLP Plan – On booking you have to pay 10% of the amount. With in 30 days from booking 10%.
 Flexi Payment Plan - On booking you has to pay 10% of the amount. With in 45 days from booking 30%.
Amrapali Group offered luxury low rise independent floors in Noida Extension. Amrapali Centurian Park spared over 75 acres of land area. Amrapali Centurian Park is one of the prime projects of Amrapali group.
There are various facilities available with this project like Swimming Pool and Kids Pool, Jogging track, Club with Gym, Wide road facility and many more.
The cost price also include other facilities like lease rent, PLC for park facing, PLC for road facing etc. The person has to make payment by demand draft / Cheque to be drawn in favour of “Amrapali Centurian Park Pvt. Ltd.” The exact super area of “ Independent Floors” shall be calculated at the time of possession of property as constructed. Increases / Decreased area shall be charges proportionately as per the sale price. The other terms and conditions shall be considered as per the Application Form, Standard Terms and Conditions of the company.
If you want to contact agent then you have to contact “Shri Aditya Estates”, contact number is 47082734 and 9810445860. The route map is also mentioned in our site. If you want more details regarding the price sole and this project then just visit our site www.zameen-zaidad.com or if you have any query regarding this project then feel free to contact us at info@zameen-zaidad.com.

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Results- Reports 52.26% Rise in Revenues - HDIL announces
New Delhi : Housing Development and Infrastructure Limited (HDIL), a leading real estate developer has announced its results for Q1 ended 30th June 2010. The Turnover stands at Rs. 450.92 crores and PAT available for appropriation is Rs. 234.31 crores.
According to Sarang Wadhawan, Managing Director of HDIL said “We are very pleased to report strong financial results including a significant percentage rise in revenues by 52.26% compared to the same quarter of the previous financial year.”
“The Indian economy and realty market are projected to grow favorably, thereby providing us with the opportunity to further expand and consolidate our presence in the real estate market.” Wadhawan further added
HDIL plans to launch four to six million square feet of residential projects in the current financial year. Phase 1 of Mumbai International Airport Slum Rehabilitation project, a Vital Public Project, is on schedule. HDIL launches ‘The Meadows’ at Goregaon, 75% of the project sold off in the first week.
For more information house for sale, homes for sale, houses on rent, rental house, rented property, apartment for sale, property on sale, flats in delhi, flats in Gurgaon, rental flats on sale log on to http://www.zameen-zaidad.com and http://www.propertycafeteria.com

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Real Estate Arm of Mahindra and Mahindra Clocks 39 Pc Rise in Net Profit
Mahindra Lifespaces, real estate development arm ofMahindra and Mahindra registered a 39 per cent growth in net profits to Rs 14.48-crore in Q1 of FY 11, driven largely by tremondous performance in the residential segment. The company’s net profit in the corresponding period last year was Rs 10.42-crore. The operating income of the company also registered a 44 per cent increase, rising to Rs 67.93-crore as compared to Rs 47.26-crore the year before.
“The growth in the commercial real estate has been subdued over the last year, but we have concentrated on residential real estate to compensate for it which has led us to good numbers,” company Chairman, Arun Nanda, said addressing shareholders at the firm’s annual general meeting .
On the integrated townships front–under which the company develops a mix of commercial and residential property–the company has begun acquisition process for a 3,000-acre world city near Pune and 1,000-acre world city in Chennai near the port to focus on manufacturing units, Nanda said.
For more information house for sale, homes for sale, houses on rent, rental house, rented property, apartment for sale, property on sale, flats in delhi, flats in Gurgaon, rental flats on sale log on to http://www.zameen-zaidad.com and http://www.propertycafeteria.com

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Results- Reports 52.26% Rise in Revenues - HDIL announces
New Delhi : Housing Development and Infrastructure Limited (HDIL), a leading real estate developer has announced its results for Q1 ended 30th June 2010. The Turnover stands at Rs. 450.92 crores and PAT available for appropriation is Rs. 234.31 crores.
According to Sarang Wadhawan, Managing Director of HDIL said “We are very pleased to report strong financial results including a significant percentage rise in revenues by 52.26% compared to the same quarter of the previous financial year.”
“The Indian economy and realty market are projected to grow favorably, thereby providing us with the opportunity to further expand and consolidate our presence in the real estate market.” Wadhawan further added
HDIL plans to launch four to six million square feet of residential projects in the current financial year. Phase 1 of Mumbai International Airport Slum Rehabilitation project, a Vital Public Project, is on schedule. HDIL launches ‘The Meadows’ at Goregaon, 75% of the project sold off in the first week.
For more information house for sale, homes for sale, houses on rent, rental house, rented property, apartment for sale, property on sale, flats in delhi, flats in Gurgaon, rental flats on sale log on to http://www.zameen-zaidad.com and http://www.propertycafeteria.com

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Base rates won’t make home loans costlier
Mumbai: Home loan borrowers can rest easy. The base rate regime — the new interest rate benchmark to which all the lending rates will be linked to from July 1 — has not hiked mortgage rates. And indications are that home finance rates are unlikely to rise unless the RBI hikes interest rates to tame inflation.
On Wednesday, SBI left its home and car loan rates unchanged at the prevailing levels for all the tenures till September 30, but said it could change mid-way through in case its base rate is changed. SBI will continue with its popular 8% per annum home loan rate and has also left the other terms for home loan customers unchanged. However, it said the floating rate component in the home loan, as also rates for car, educational and personal loans, will now be linked to SBI's base rate, that it fixed on Tuesday at 7.5%.
Till late on Wednesday, HDFC and ICICI Bank, did not announce any change in their home loan structures. However, LIC Housing Finance said that for home loan borrowers preferring floating rates, the special offer rates for new customers for loans upto Rs 1.50 crore will be 8.75%, compared to the earlier situation where for loans above Rs 75 lakh and upto Rs 1.50 crore were priced at 9.75%.
Under SBI's home loan scheme, often called the teaser rate, the bank offers home loans at 8% per annum for the first year and 9% for the second and the third years. After the end of the third year, the home loan customer moves to the prevailing interest rate at the time of such a shift. From the fourth year onwards, the rate will be linked to SBI's base rate, and the effective rate is 9.25% for loans upto Rs 50 lakh and 9.75% for loans above Rs 50 lakh.
Car loans takers too will not see any change in rates. For new loans, the rate is 8% fixed for the first year, and 10% for the second and the third years. Thereafter, the rates are linked to base rate and the effective rate at present is 11.25% for the fourth and fifth years and 11.5% for the sixth and seventh for Ezee Car Loans with limits up to Rs 5 lakh.
A host of leading banks announced their base rates on Wednesday, and as expected private sector banking major HDFC Bank set its rate lower than that of SBI. Compared to SBI's 7.5% per annum,
HDFC Bank set its rate at 7.25%. ICICI Bank and Axis Bank kept it at 7.5%.
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Unitech Ltd. Comes with their new project based on Residential Apartments at Gurgaon
Unitech Ltd. is a real estate organization which offer their new projects named as “Unitech Exquisite” based on “Residential Apartments at Sector -71 Gurgaon. Their project includes 3BR and 4BR Residential Apartments with all the luxurious facilities. They provide various facilities in their apartment’s like-
1- Video door phone at main entrance gate.
2- Automatic room barriers.
3- Wireless internet connectivity.
4- Sewage Treatment.
5- Unisex gymnasium.
6- Kid’s Play Areas.
A single person can’t imagine all the facilities under one roof. If people want to book any apartment then the booking is done on the basis of square feet area. The basic sale price is Rs. 5500/- Per sq.ft (Including EDC+IDC). There are two types of payment plans available with their project-
1- DOWN PAYMENT PLAN
2- CONSTRUCTION LINKED INSTALLMENT PLAN
Here are some details of preferred location and their charges:-
• Single Preferential Location – Rs. 200/- per sq.ft.
• Two Preferential Location – Rs. 350/- per sq.ft.
• Three Preferential Locations – Rs. 500/-per sq.ft.
In this “Residential Apartment” project there various types of apartments:-

1- Type X1, X2, X3 and X4 include 3BR + 3T +SQ.
2- Type Y1, Y2, Y3 and Y4 include 3BR+3T+SQ+ Terrace
3- Type Z1 include 3BR+ 3T
4- Type P1, P2 and P3 include 4BR+ 4T+SQ+Store+Terrace

There are some Architectural Features in this “Residential Apartment” Project like Oil Bound distemper, Floring – Imported Marble, Kitchen is made up of Granite Counter, Air Conditioned Grounf Floor with waiting Area and many more facilities.
If you want to contact agent then you have to contact “Shri Aditya Estates”, contact number is 47082734 and 9810445860. The price and terms mentioned in this article are indictive with a view to acquaint the applicant and not exhaustive.
The route map is also mentioned in our site. If you want more details regarding the price sole and this project then just visit our site www.zameen-zaidad.com or if you have any query regarding this project then feel free to contact us at info@zameen-zaidad.com. Now, there is no need to sacrifice city life and settle down in far flung area just for the sake of buying a “Residential Apartment” in your budget. So, get ready to fulfill all your dreams with ““Unitech Exquisite” and book your apartment now.

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