Top 4 Obstacles to Buying a Home in India

Buying a Home in IndiaMost people invest their hard earned money in buying their first house which will save the monthly rent. The first time home buyers face a lot of obstacles in the process of owning their dream house. This can be easily solved with a little knowledge in the home buying process. Here is a list of four obstacles to avoid while buying a home.

Tips 1 : Finding the right home

When you look out for the right home, it is necessary to concentrate on a few criteria which will make your buying worth.

Buying a Home in IndiaLocation: The location of your home is directly proportional to the value of the property. If you buy a house in an established or an upcoming neighborhood, the investment value of your home will grow over time. So get adequate information about the locality before buying a house.

Amenities: When you buy an already constructed house, it is necessary to look for good amenities. You can check for amenities like ceiling and floor finishes, availability of outdoor space, proper bathroom facilities etc.

 Family needs: Consider your family’s requirement in choosing a home. If the family is big, then choose a house with more number of rooms than a spacious two room apartment. If there are elders and kids in the family, look for houses that are located near schools, hospitals, market area etc.

Security: Avoid buying houses in the crime ridden neighborhood even if the property is cheap. You can buy an apartment where 24 hours security service is available. This will give a complete protection to your family and the property.

Price: It is important to have an affordable budget range while looking for a home. The price depends mainly on the locality, transportation facilities and age of the building. Select a house that falls under your budget yet satisfying all the above criteria.

Tips 2 : Obtaining a down payment

downpaymentArranging the finances to buy a home is little difficult but if you have knowledge in availing home loans, it becomes easy. You can either buy a home with your life savings or opt for a home loan. It is not possible to have huge savings to buy a house with a single payment, so most people prefer EMI mode of payment which requires a down payment. Although many banks offer home loans based on the income, one can avail only 80% of the loan. The down payment is usually around 20% of the whole amount and the rest can be paid via EMI options.

It is necessary to have some savings to pay the down payment or you can get help in obtaining the finances from your family or friends. Make sure that you keep some funds reserved for the down payment or any such needs.

Tips 3 : Satisfying the loan conditions

Home loan

To avail a loan, it is necessary to satisfy all the norms set by the lender.  Understand the lender’s requirement and apply in those banks that suit your eligibility, in order to avoid rejections.  The banks collect a non-refundable processing fee of 0.5% to 1.0% from the loan amount to verify the necessary documents and to complete the processing. In case of a loan rejection, you will not get a refund.

If you choose the fixed interest rate option, some banks have the policy of changing the fixed rates every 2 years. So it better to read and understand all the norms of the loan documents. Apart from these, the banks also have a different property valuation rates prepared by legal experts. You should be prepared to have emergency funds to cover up any unexpected backlogs.  It is important to have proper title deeds and NOC documents to avail the loan.

The documentation is the most important step in availing a home loan. You can have the basic document ready before approaching the lender. The rest of the documents can be submitted during the process.

Tips 4 : Successfully Completing the Documentation process


You can apply for a home loan with a formal loan application. The loan application requires details about education, occupation, income, bank statements, personal information etc. You should substantiate all the information with proper proof documents. Keep necessary documents ready for verification which includes:

  • Age proof
  • Identity proof
  • Address proof
  • Educational certificates
  • Income proof
  • Bank statements


Next step is the verification of the property and the required documents. At this point, the lender will carry out the property valuation.

Step 3:

The lender will send the sanction letter which contains the loan amount and the terms of the loan. You are required to submit the property related documents at this stage

Step 4:

The bank will collect the title deed as a security for the loan offered. You can confirm the loan documentations and sign the loan papers.

Step 5:

You can avail the loan amount in parts, in case of the building construction. The EMI will begin only when the whole amount is drawn from the bank.

It is advisable to consult your lender and know the list of required documents beforehand to avoid any unnecessary hassle.


Developers getting ready for Property Bonds

The Indian realty sector is finding out novel ways to tide over persisting financial problems. The latest attraction seems to be setting up of Property Bonds. Many realtors are hoping that this will help them keep their head above water by infusing the much-needed capital into the debt-laden commercial segment.

The property bonds are to be backed by the income that companies get through rentals from the commercial and retail markets. This move supported by the proposal of SEBI to allow listing of Real Estate Investment Trusts (REIT) should hopefully reduce the debt burden.


Most of the entrants to the Bond market are located up north where there are a huge stockpile of lease rentals that could be off-loaded at a very short notice. Apparently this surprise move has been in the making for a long time now. The seed for the development of the bond structure was sown by a couple of foreign banks through advice given to their domestic clients.

The Bond structure is based on the Lease-Rental discounting model. In such a case the interest on the bond would be paid from the rental income of the leased properties while the total value of the bond would be given at the end of the maturity period. The tenure of these bonds is likely to be around 5 to 7 years.

The front-runners in this category are IDFC and DLF. DLF has been earning a handsome amount as rental income and this is a sure shot way to put it to better use. Primarily it will be used to reduce its credit.


The bull run of Indian real estate in the years preceding the recession saw many a developer queuing up in front of banks. The intention was to gobble up loans with the lowest interest rates. But the financial crisis that followed put a spanner in their works. The realtors are now facing the twin challenges of disburdening the unsold inventories as well as raising enough capital in order to reduce debt from the loans.

The Indian market has not favoured funding for the bond market. This has necessitated the latest move to come up with unique ways of raising money.

Although it is an offbeat venture, the risks associated are still plenty to discourage an investor. Interest payments could be affected if there is no regularity on the payment of rentals. Ironically this was one of the major contributing factors for the sub-prime crisis of 2008. Therefore many developers are adopting the wait-and-watch approach in order to ensure that the bond market can be relied upon lest it may backfire.

Pune’s Magarpatta Makes Great Leaps in Realty Sector

magarpatta_city_pune1Magarpatta is one of the fast emerging localities in the eastern outskirts of Pune city. This satellite township of Pune has been witnessing tremendous real estate interest for quite some time now. This can be confirmed with the growing number of transactions and rise in property value since the last two to three years. The availability of premium and luxury apartment flats boasting of first rate amenities and at a relatively reasonable price range is one of the primary reason why there has been an increase in demand for residential units in this part of the city.

Around 30 years back, Magarpatta was conceived to include residential and corporate areas and was developed from multiple plots of land owned by farmers. This once agricultural zone now comprises of residential, commercial and corporate areas that have boosted the real estate importance of this region. Magarpatta is a part of Hadapsar and located close to Koregaon Park, Kalyani Nagar, EON IT Park, Kharadi IT Park, Hadapsar Industrial Estate and Fatimanagar. In addition to being located close to IT parks and areas of commercial importance, there are also several IT/ITeS companies that are located in Magarpatta.

Some of the corporates having their offices in Magarpatta are Accenture, Mphasis, HCL Technologies Ltd, Capita, EDS, Amdocs, Markets and Markets, Tata Elexi, Avaya, CompuCom, BNY Mellon, etc. The Cybercity Magarpatta IT Park has been one of the major attractions for IT, telecommunication and BPO companies and includes 12 towers with new SEZ towers.

One of the oldest commercial centres in Magarpatta i.e. The Mega Center houses offices of realty builders and logistics providers. Another prominent commercial centre i.e. Destination Centre holds the office of the Magarpatta Sales and Property Management Services. The rise in commercial sector in fact has been a major economic driver for residential growth in Magarpatta.

In addition to the growing number of commercial and corporate firms in Magarpatta, another reason why this locality is witnessing considerable importance is its well-connectivity with other parts of the city. Magarpatta is strategically located on NH-9, is just 5 kms from MG Road, 10 kms from Pune airport and around 7 kms from Pune railway station. It is also well-connected to its neighbourhoods and other parts of the city via good road network and first-rate public transportation like local buses and metro. Proximity to Mumbai-Pune Expressway is another factor that has contributed to the overall growth and development of this locality. Well-developed physical and social infrastructure facilities like schools, clinics, hospitals, restaurants, hotels, supermarkets, malls, banks, recreational areas, etc. make this locality a self-sufficient area.

From the point of residential development and growth, Magarpatta has already been invaded by major local developers like Marvel Realtors, Panchshil Realty, VTP Group, Vascon Engineers and Kumar Properties who offer quality, premium and affordable residential choices for interested investors and end users. Home buyers are spoilt by the range of housing options available that vary from budget housings, premium residential segment to super luxury housing options and customized luxury housing units. All these housing options not only help buyers by offering them more residential choice but also enhance their housing lifestyle greatly. The residential property price in Magarpatta can range anywhere from Rs. 4500 per sq. ft. to Rs. 14500 per sq. ft., depending on the builder, type of housing  and amenities and specifications offered by them.

Great connectivity, easy accessibility to social infrastructure facilities and presence and proximity to numerous companies and IT parks are all factors that contribute to the demand for residential space in this locality. Besides these, lots of green spaces and environment-friendly practices followed in Magarpatta promote healthy environment for its dwellers. A well-developed area that also offers good ROI, Magarpatta is definitely a great place for investment in Pune real estate.



Best Architects in India

Architecture plays a very important role in the construction process of a building. We find many amazing architectural features in various shapes and sizes. Examples of manmade architectural wonders include the Taj Mahal, Big Ben, the Empire State Building, the Burj Khalifa, Sydney Opera House, PETRONAS Towers, Lloyds Building, etc. The Taj Mahal, in particular, is considered to be one of the best architects in India. All these marvelous buildings were the outcome of the wonderful efforts of the architect who designed the building’s structure.

architects in india

An architect is the person who plans the entire design, including the shapes and sizes of the planning and structure of the layout of the building. Every minute detail of a building is planned by an architect. There are various new architectural projects in India which are considered to be examples for pure architectural excellence. There has been a rise in the demands for extravagant and luxurious designs in the building structures in recent times. Moreover, Indian architecture is also in great demand in foreign countries. Many Indian architects are being invited to foreign countries to design buildings.

Top Architects in India

Some of the top architects in India have been listed below:

  • Prem Nath & Associates – This is a Mumbai-based full design organization, practicing architecture and interior designing and other engineering services. It was established in the year 1967, and covers a wide range of architectural and interior designing projects of commercial complexes and home architecture and malls, institutions, hospitals, 3- to 5-star hotels, etc. They have in-house 3D Computer Aided Design & allied computer-oriented facilities to manage Total Design Services for Architectural & Interior Design, Structural, MEP, and Project Management (PMC) including all the associated services of the client’s requirements. They build eco-friendly & energy-efficient Building Architecture and are members of the U.S. Green Building Council (USGBC) and the Indian Green Building Council (IGBC).
  • Sanjay Puri Architects – Sanjay Puri Architects have many projects in India and other parts of the world like Mauritius, Montenegro, Spain and U.A.E. They have won 3 MIPIM Architectural Review Future Projects Awards in Cannes in 2013, and also the A+Architizer Award in New York in the same year. They specialize in evolving innovative design solutions which are contextual, sustainable and create space which revolutionize the way in which they are experienced. This is the main design philosophy of this firm. They have a diverse portfolio of urban planning, residential, hospitality, commercial, and retail and office projects.

architects in india

  • Charles Correa – Charles Correa is an urban architect, an activist and a planner. He is considered to be India’s greatest architect and is also well-known for his modern architecture in post-independent India. His very famous and very first important project was the ‘Mahatma Gandhi Sanghralaya’ at Sabarmati Ashram in Ahmedabad (1958-1963). He was the main architect for New Mumbai (Navi Mumbai), which was an urban growth centre of over 2 million people across the harbor of the existing Mumbai city. He has also done pioneering work in low-cost shelters and urban issues of the third world in the last few decades. Some of his major projects include National Crafts Museum, Madhya Pradesh Legislative Assembly, Bharat Bhavan, McGovern Institute for Brain Research, etc.
  • Sheila Sri Prakash – She is an urban architect and designer and is the founder of Shilpa Architects in Chennai. She is the first woman in India to have started her own architectural firm. She has the credit of designing more than 1000 projects in Indian and other foreign nations in the past 35 years and has been a major part of establishing the Indian Green Building Council. She is also considered to be one of the pioneers of Indian architecture because of her usage of a combination of principles of Classical Indian music, Bharathanatyam, architecture and sculpture in many of her award-winning projects.
  • Nitin Shrimali Associates – They are a team of dedicated architectural professionals involved in the execution of architectural, structural and interior designing projects in various fields. They provide complete architectural solutions including complete CAD solutions, 3D-Modelling, turnkey projects and project management, etc. They provide designs for both commercial and residential complexes. Some of their best home architecture includes Navbharat Kuteer in Panchmari, Bungalows in Indore, and Kalindi Kunj in Indore, etc.


Real estate agent or Company – Which is the best way to buy a property?

This entirely depends on your convenience – if you have enough time to spend, it may be better to search, choose a property and purchase it directly from the builder. The advantage with this route is that there are only two parties – the buyer and the seller.


Real estate company

You have a direct point of contact, which you can use to clear all your doubts. He may also be useful in the future. You are not required to pay a brokerage, which is an additional cost over the price of your property; and, if you negotiate well, then the builder may give you a better price.

Real Estate Agents

On the other hand, if you do not have enough time to spend looking for a property, then you can choose a good broker to act on your behalf.

Both options are viable, but contacting a person who has decent exposure is important. In order to find a good real estate agent or a real estate company having a good reputation, check the real estate websites. A real estate website contains all the details related to real estate; like types of properties, real estate agents, real estate companies, etc.

Greater Kailash in Delhi – Residential & Shopping Hotspot


Greater Kailash, which is also referred to as GK, is a residential locality in Southern Delhi having many neighbourhoods and several market places. It is said to be home to the most prominent families in Delhi. Greater Kailash is divided into two main zones, Part 1 & Part 2, situated around the Outer Ring Road. Greater Kailash 1 was developed by DLF Limited in 1960, after the Delhi Government allowed developers to build many colonies in this locality. Now this is considered as one of the most affluent neighborhoods of the city. Most of the properties in Greater Kailash 1 are found in close proximity to markets, having a wide range of retails stores & restaurants etc..
Greater Kailash in Delhi

Greater Kailash 1 & Greater Kailash 2

Block M and Block N of Greater Kailash 1 has many market areas, which are said to be among the top commercial areas in the city. It has a broad range of shops & retail stores including Giovanni, Puma, Next, Adidas, Lacoste and Nike, apart from having various restaurants and coffee shops. The Block N market has Fab India’s first retail store. Owing to the popularity of the Greater Kailash 1 properties in the real estate market, it was followed by the expansion of the even more acclaimed Greater Kailash 2. GK 2 has many popular market areas just like GK 1, and has easy accessibility to Outer Ring Road. This locality is considered to be the largest hub for sanitary wares in the whole of North India. According to the official list of colonies in Delhi, there are only 2 sections of Greater Kailash, namely GK 1 and GK 2.

Accessibility & Neighbourhoods

Greater Kailash has very good connectivity as it is located in very close proximity to the Outer Ring Road and thereby properties in Greater Kailash 2 have gained popularity in the recent times. The main advantage of Greater Kailash is its location, as it is situated at a distance of about 17 km from the Domestic Airport and about 22 km from the Indira Gandhi International Airport (IGI). Greater Kailash is well-connected with major areas of the city as there are many bus services provided by the Delhi Transport Corporation. Apart from this, the nearest station is the Nizamuddin railways station, which is about 9 km away from this locality. And the other station is the New Delhi Railway station, which is situated at a distance of about 15 km from Greater Kailash.
Greater Kailash in Delhi

Some of the neighbouring localities of Greater Kailash 1 and 2 include East of Kailash, Lajpat Nagar, Nehru Place, Kalkaji, Masjid Moth, Chittaranjan Park, Kailash Colony, Sant Nagar, Hemkunt Colony, Siri Fort Road, Chirag Enclave and Pamposh Enclave.

Real Estate

Greater Kailash has been experiencing price appreciation and has slowly emerged as a top-notch locality in Delhi city. There are numerous housing projects being developed by prominent builders in and around this place. Few of the builders in Greater Kailash1 and Greater Kailash 2 include DLF Home Developers, Parsvnath Developers Limited, Ansal Housing, Ramprastha and Raheja Developers.

The highest locality price of residential multi-storey flats for sale in Greater Kailash 2 is around Rs. 20020 per square foot and the lowest price is around Rs. 18045 per square foot. And the average is around Rs. 19035 per square foot. The return on investment has witnessed a decrease of 10% q-o-q in June 2013. The average rental price for a commercial office space is around Rs. 120 per square foot. Greater Kailash properties are said to be experiencing good demand in the real estate market, as it has very good connectivity and all the necessary amenities people usually look for in a residential locality.

Borivali West: Connectivity is the key to Real Estate in this Mumbai Suburb

Borivali, also known as ‘suburb of gardens’ is located on the north-west part and is one of the well-developed localities in Mumbai. Small villages like Eksar, Kandivali, Mandpeshewer, Kanheri, Tulsi, Magathane, Poisar and Shimoli which once used to stand between Dahisar River and Poisar River have come together to form this suburb call Borivali. The name Borivali originates from the word ‘bor’ which means existence of lot of bushes and sweet fruits.


Borivali is populated with landmarks and tourist spots which are visited by people across Mumbai and India. It is surrounded by Sanjay Gandhi National Park in the eastern side, which includes the 4th century archaeology site Kanheri Caves, and by mangrove forests in the west.

Besides this, there are lots of gardens named after freedom fighters; some of them worth mentioning are Veer Savarkar Udayan and Jhansi Ki Rani among others. These parks cater to the needs of different ages and groups, due to which this locality is identified as a suitable residential option by the Builders in Borivali West.

Easy connectivity

Borivali West provides seamless connectivity as it is well-connected to all prime areas of Mumbai city. Since it strategically located at a distance of 1 km from Borivali railway station and 12 km from Domestic Airport, this place drives the residential estate sector and demand for property in Borivali west.

Buses provided by BEST, NMNT and TMT travel to major areas like Thane, Vashi and Wadala making it easy for commuters from the flats in Borivali West. Apart from trains and buses, auto-rickshaws and taxis operate in huge numbers. The Metro rail Phase I (Versova-Andheri-Ghatkopar corridor) project, once completed, will add to the commuters’ comfort. Borivali West is very close to the Link Road that connects to the highway and has easy access to South Mumbai.

Education, Health Care and Entertainment

This locality boasts finest and reputed educational institutes, some of them are Oxford Public School, Rustomjee International School, Ajmera Global School, Swami Vivekananda International School, Don Bosco High School, St. Anne’s High School and Dr. Pillai Global Academy, Sardar Vallabhbhai Patel Polytechnic College, St. Francis Institute Management and Research, Anadibai Damodar Kale College, St. Rocks College of Commerce and Science and R.R. International College among others.

The builders are coming up with new projects in Borivali West in close proximity to these schools and colleges for easy access.

Leading hospitals like Apex Hospital, Karuna Hospital, Pandya Surgical and Maternity Hospital, Doshi Maternity and Nursing Home, equipped with modern technologies are found in this realty hot-spot.

This locality also boasts many shopping malls, theaters, multi-cuisine restaurants and beautiful gardens to keep the residents busy on weekends. Some of the popular ones are Thakkar Shopping Mall, Growel Mall, Shopper’s Stop, Bamboo Garden Restaurants, Banjara Restaurant, Pizza Hut, Five Spice and Cross Road 92 among others.

Residential Projects

Borivali West is a fine locality in central Mumbai and is a prime location for residential property seekers as well as for commercial establishments. The demand for flats in Borivali West is coming from investors who belong to middle and lower middle income group. The factor that attributes for the enhanced demand in this location is the affordability, greenery, and wide spread connectivity. The nearness to Secondary Business Districts like Bandra-Kurla Complex (BKC) and Andheri and the growth of office locations in and around the western suburbs such as Malad, Andheri and Goregaon has increased the demand for 2bhk flats in Borivali West.

Some of the prominent builders in this locality are Thakur group, Rustamjee, Parinee Group etc. The builders are also into re-constructing old properties as well-as development of new projects. A few of the residential projects in Borivali West are:

  • Rishabh Heights by Rishab Group
  • Arua Biplex by Bhoomi Realty
  • Soni Sarovar Apartment by Arihant Group of Companies
  • Ostwal Enclave by Shree Ostwal Builders
  • Parinee Adney by Parinee Pvt Ltd

All these projects offer amenities like tennis courts, party rooms, swimming pools, gymnasium and spa, central air-conditioning, Italian flooring, branded faucets and terrace garden, etc.

Price Trends


The return on investment is witnessing a decrease of 4% q-o-q and the price for flats for sale in Borivali West is:

  • Highest locality price: Rs 17400 per square foot
  • Average locality price: Rs 14700 per square foot
  • Lowest locality price: Rs 11900 per square foot

However, the rental property is witnessing a 4% hike in return on investment q-o-q. The average value is around Rs. 25 per square foot.


The rate of commercial office space for sale in Borivali West is:

  • Highest locality price: Rs 45200 per square foot
  • Average locality price: Rs 26400 per square foot
  • Lowest locality price: Rs 7700 per square foot

Good connectivity, schools, colleges, hospitals, malls and civic infrastructure is the reason why this suburb is high on builders and investors radar, and this locality is expected to have a continuous rise in values in near future.