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In a month of April 2020 the Housing
Department of Maharashtraissued a circular asking landlords and house owners
to postpone the collection of rent in view of the lockdown situation for
tenants for at least three months. It has also been said that landlords should
not evict tenants for not paying rent during this period.
The circular signed by Housing Secretary
Sanjay Kumar went viral on social media. Many zamindars are within a fixed
range whether the government had the legal power to enforce it.
The lockdown has an adverse effect on people's
income and employment. “Many people face difficult financial situations. A
large number of people are not able to pay their regular rent. Therefore,
recovery of rent should be postponed for at least three months and no tenant
should be excluded for non-payment of rent, said in the circular.
The proposal is to be implemented with
immediate effect. Issuers have gone well with landlords whose only source of
income is rent. However, in the words of Housing Minister Jitendra Awadh, “Many
people are experiencing economic difficulties as a result of the epidemic. The
government has taken this step keeping in mind that it will be difficult for
tenants to pay the rent in future.
Rents in Mumbai are skyrocketing and the move
is a sigh of relief for the majority of tenants. Rajesh Prajapati, a member of
the managing committee of the Housing Chamber of the Government of Maharashtra,
said, "At the moment, the government feels that landlords are in a better
position for economic devastation based on rental income."
An increase in the interest rate can increase the payment
on your mortgage, but it has a greater impact. The more you plan to borrow; the
interest rate changes will affect your loan, payments and overall purchasing
power. Interest rates can also affect the overall mood of the market. Changes
in either direction can create a feeling of excitement in buyers and sellers
alike.
At one time, house buyers could reduce payments coming
out of pocket. All others were able to roll the related fees and closing costs
into the mortgage. But these days, lenders want not only the down payment
amount, but also their closing costs to be available in cash. And with some
closing costs being 2.5% more of the loan amount, it can actually have an
effect on how much home you can actually buy.
Pre-qualifying a house loan is not a guarantee that you
will be approved, but it is a good place. This is because getting pre-qualified
will give you an idea of how much house you can buy. Also, because your
credit score, debt-to-income ratio, and down payment amount can have an impact
on your interest rate, pre-qualifying will give you the information you need in
the process so that you can improve your chances approve your loan at the best
rate possible.
Buying
a house requires a lot of research. However, your research should not be
limited to just comparing places and properties. You also need to do your due
diligence when shopping for a real estate agent as well as your lender. When
you are buying your first house, trusting your agent and lender is paramount.
Therefore, ask people you trust for referrals to realtors and lenders. Visit
and talk with everyone before agreeing to use their services.
If
you find a house you love, put in an offer and get ready to move because there
are chances that things will move quickly. This is especially important if you
are looking at houses priced in your budget or less. Buyers will jump on these
properties because house prices are going up, they want to leave in a hurry,
and so should you. Good luck!
Basic hygiene is all that is required
to keep your house virus free. Corona virus is not air borne but coming into
contact with an infected person can affect you and your family. Make sure you
follow these simple tips to prevent the spread of COVID-19 in your houses.
What is Corona virus or COVID-19?
To date, 2418592 people have been
affected by corona virus (COVID-19) globally. While these are confirmed cases,
many are unconfirmed and fear is lurid. If you are looking to protect your
family from this disease, then here are some simple remedies that you should
follow.
Deep cleaning of your property every
week will limit the amount of germs in the entire house. This is not a costly
affair. The house is easy to disinfecting yourself. For example, lemons, baking
soda and vinegar can kill germs in the kitchen. It is also safe to use kitchen based
products for kitchen cleaning. Use the mixture to clean all counters.
Baking soda can also be sprinkled on
the upholstery. You just need to wait for at least half an hour for this. This
may be better than chemical spraying. You can use the Do-It-Yourself (DIY) method to deal with pollution and germs in
your home. Make a mixture of equal parts water and vodka with a few drops of
essential oil. It will serve as a disinfectant as well as deodorizer.
Likewise, essential oils can be used
to clean shower curtains, toilet rims, and damp locations. You can scrub these
later. Avoid keeping the areas wet, as this is a good environment for germs to
thrive. In the bedroom, make sure all linen is
thoroughly rinsed in warm water and liquid disinfectant. It is advised that you
change bed sheets regularly every week.
Kids room
Children can bring in dirt and germs.
When you can't restrict their movement and play all the time, make sure that
their room is clean at all times. If your child is using toys, make sure that
you appreciate these toys. You can check the washing instructions, to ensure
that the soft toys remain in shape even after washing them at home. Other toys
can be washed frequently.
Surface cleaning
Ensure that all surfaces - shelves,
tables, chairs, racks, switches, decorative artifacts and showpieces - are
cleaned at least once a week. If there are sick people at home, then clean up
all the places they may have touched. Corona virus is spread by contact with an
infected person and while it is not air borne, it is transmitted through body
fluids.
Corona virus infection: things that
need attention
Keep shoes and
sandals that you wear outside the house, preferably outside the house,
especially if there are small children in the house who can pick them up with
their hands. Do not hesitate to ask visitors to take off their shoes when they
arrive.
Make sure your
clothes are washed every day. If germs appear on your clothes, it is advisable
not to wear them again until they are washed.
Use separate
towels at home.
Educate your
domestic help, driver and other employees about corona virus disease and
provide masks and sanitizers to help them. In this way you are ensuring their
safety, as well as yours.
Avoid exposure to
animals and slaughterhouses as corona virus can spread from animals to people.
The Government of India has made
its final presentation about the Union Budget of the session. The Union Budget
has received some big news, acknowledging torpidity in the real estate sector
that has been struggling with shallow growth over the past few years. The
government has made some important disclosures that will provide the necessary
ease to the common people. , Including home buyers as well as builders. This is
an interesting budget, in which the government has tried to help the industry
to control the decline in the real estate industry.
The realty sector that changes key are:
Exemption of TDS
The proposal to reduce GST on homebuyers is very helpful. Under the current Income Tax Act (Sec-194L), a person who is responsible for paying rent, has to deduct TDS on the amount paid if he passes more than Rs 1 lakh 80 thousand during a financial year. The Interim Budget 2019 proposed to increase this exemption limit from Rs 1 lakh 80 thousand to Rs 2,40,000 for a year. This step will be very useful for property owners who rent their property for business as they will receive higher rental income which will doubtless be deducted as tax. The move may entice more investors to buy a second home.
According to current regulations,
when a person owns several residential homes, they can now choose one of them
as "self-occupied" and the other will be seen as renting by default.
Prior to this, no one would have to pay any tax on the
"self-occupied" property, but the other would be charged the same as
the house that was rented.
With this move, the government
has tried to increase second home sales by meeting the criteria for genuine
self-occupiers who already own a house. For self-occupied second homes, where
families are living, consumers do not have to pay any tax on the rental income.
On the other hand, for the real
estate industry, where flats / apartments serve as its index, the tax exemption
on constitutional rent was proposed to be increased from 1 year to 2 years.
This means that builders or developers will not have to pay any outstanding
interest on their untax properties for a period of two years, for a period of
two years after the completion of the project.
Income tax per year Rs. 5 Lakh
As per the Budget 2019 proposal, salaried employees with an income of up to Rs 5 Lakh per year will be exempted from income tax, and if they avail the 1.5 Lakh exemption available under 6.5 Crore per year, then earning 6.5 Lakh per year. Employees with the same will be exempted. Income Tax Act. However, tax rates have been retained. The proposal to give tax exemption for income up to Rs.5 Lakh will help in increasing the budget of the home buyer and may also provide for the demand of housing.
The new standard deduction limit, which is Rs 40,000 as per last year's
budget, has been increased to Rs 50,000.
LTCG discount
Under Section 54 of the IncomeTax Act, the benefit of saving capital gains will increase from an investment
in a residential house to a capital gain of up to two crore rupees for a
taxpayer in two residential houses and this benefit can be availed only once in
a lifetime.
Section 80-IBA was added on 1
April 2017 of theIncome Tax Act to allow a 100% deduction on any profits or
gains from the business of developing and building. This benefit is
proposed to be extended for one year now, that all housing projects to be
registered and approved under the Real Estate Regulatory Act by 31 March 2020.
The move will force builders to develop more and more affordable housing projects
but this tax exemption proposal is directed at setting limits based on the
location of the house and the carpet area.
An interest grant on a home loan
of 4% will be provided for housing loans up to Rs 9 lakh, with an income of Rs
12 lakh per year and a rebate of 3% on home loans up to Rs 12 lakh for those
earning Rs 18 lakh. Last year has already been offered in the interim budget
last year to improve housing demand benefiting homebuyers.
The conclusion
Apart from this, the above
changes which have a great impact on the real estate sector, other proposals
are those that give tax exemption to individual taxpayers whose annual taxable
income is Rs 5 lakh and for a salaried employee from Rs 40,000 in standard
deduction amount. There will be an increase of up to Rs 50,000 Profitable
investors.
Technology has endlessly impacted businesses such as transportation, healthcare, financial services, retail and many more, with similar approaches sharply changing the real estate sector. From home to online booking to view, technology has satisfied a great idea to boost the life of the customer. Due to technological advancement, people have immediately become smarter and hold an easy path to the heaps of knowledge.
The importance of technology in
our everyday lives is undisputed. We all accept the case that today's
progressive world is insignificant without technology.
Within technology, innovative
opportunities are knocking at the door
Technological achievement has
taken the world to a different level and this picture is completely different
from previous decades where it is challenging for sellers to combine with
buyers.
Simple search methods: Google search has made it easy to find
any information in a mouse click. Real estate companies now have their own
websites and apps, where customers can preview the information they need.
Technological developments have even broken the geographical barrier where NRI
customers can book and finalize homes from any part of the country. In fact,
due to increasing technology, it is easy to seek professional advice from the
client in case of any doubt.
Online Payment Options: With online payment options, buying and
selling homes has become much easier than before. Whereas earlier customers had
to appear in person and a singular date was established to receive payment.
Now, due to easy bank transfer and various techniques of receiving payment,
instant payment has become easy.
Chat bots: Marketing and sales enforcement is enhanced through
chat bots. Chat bots assist as a point of communication between customers and
companies as they market direct questions and assure customers to resolve their
inquiries.
Social Media: Every news with social media is just a picture. It
prefers each specific detail that is important from the customer's point of
view.
Home computerization: Making our lives easier and simpler
with technology. Smart homes have become the foundation of a stable lifestyle.
It is technology that has caused home automation in the picture. Everyday we
understand the latest home automation to get our home protected and technically
exceptional. Home automation encompasses a wide range of functionalities.
Let us understand some contemporary devices which is the most suitable example of home automation:-
Great control: This thing is a personal wall switch that
practices wi-fi to connect and use with multiple devices in your home. The
color finish screen and a user-friendly button will let you play music, control
lighting, approximate temperature and many more. It is reasonably priced but is
a smart choice for a high-tech home.Combined with a wi-fi that assures you to regulate
temperature from a phone, tablet, or your system.
Smart heating
and cooling: An inclusion of primitive sensors that adjust to reduce
hot and cold points in different rooms. The technology that brought about
revolution in today's world has been an essential component of our lives.
Real estate is changing the face of unnatural intelligence
as technology changes. It is anticipated that artificial intelligence will be
able to fully handle the market. It first managed to become a monologue
platform, but due to advances in technology, it has now interacted with an
online program. Due to this advancement in technology, it is predicted that the
overall business board is a real estate or continues to prosper. SuGanta Realty Services llp offers you a range of apartments, villas, flats, farmhouses, plots, Offices, Spaces, Shops, Builder floors etc on affordable price and amenities.
According to Vastu Shastra, the door of a house is not solely for the purpose of entry for the family, but for energy. “The main gate can be a transition zone, through which we tend to enter the house, from the outside world. This is an area from which happiness and wisdom enter the destiny house,”says Nitin Parmar, a Mumbai based architectural authority.
“Consequently, the most entrance has been accorded prime importance, because it allows or keeps out the cosmic energy flow that promotes health, wealth and harmony. Moreover, most door conjointly creates the primary impression of a house,” he points out.
Apart from being aesthetically
appealing, most of the doors / entrances of the house should be in the right
direction, according to Vastu Shastra, to attract positive energy into the
house.
The direction of the most door
“The main gate should be within the north, north-east, east or west, as these direction area units are considered auspicious. Avoid having the most doors in the south, south-west, north-west (north-facing), or south-east (east-facing) directions. The inner door to the south or southwest will be corrected by placing it in a metal pyramid and lead helix. The
doors within the northwest would be fixed with brass pyramids and brass
helixes, while a door within the south-east direction would be corrected using
a copper helix,”explains Parmar.
The main door should be larger
than the other doors within the house and it will open in a clockwise manner.
Avoid having 3 doors during a row, parallel to most doors, as this is
considered to be an important architectural flaw and can have an effect on
happiness within the home.
Materials used for the most door:
An entrance gate is considered the most
auspicious for most entrances.
Mixture South Direction: Must be a
mixture of wood and metal.
West: Metal should work.
Color North Gate: Must be extra silver
color.
Ex: Must be a wood product and adorned
with restricted metal accessories.
Vastu
dos and don’ts for the most door
There is always a bright light-weight at
the door but avoid the red light.
Most doors should be well lit within the
evening.
Mostly put a mirror in front of the
door.
Plants If there is an area, beautify the
door with inexperienced plants.
Most gates should open at ninety
degrees, with no obstructions.
Ensure that the hinge area unit
frequently and the door accessories area unit polished oil.
There should be no broken wood or
missing screws at the entrance. Further nails should be removed.
Always keep the reputation plate.
A metal name plate is usually recommended if the door is in the north or west
direction. Use a picket nameplate, if the door is in the south or east
direction.
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