Archive for category: Blog

Riverdale, spread across 31 acres, is a combination of towers that comes with everything, be it clubhouses or endless amenities. Located in Kharadi, along the banks of Mula-Mutha river, this is best location to wake up to. The location itself gives it a scenic view and also it enjoys the benefit of easy connectivity.

It enjoys a quick access to Koregaon Park and Kalyani Nagar zone, and also to the upcoming ITeS sectors like EON IT park, World Trade Center in Kharadi. It is also connected to roads like Nagar Road and Kharadi-Mundhwa Bypass.

Coming to connectivity to other places like some of the most prominent Educational Institutes, Health Care Facilities, Entertainment and Recreation Zones and Hotels and Restaurants of the region are in close proximity. Locations in Kharadi like Columbia-Asia hospital, EON IT Park, The World Trade Center, hotels like Radisson and Reliance Mart are very closely located.

Riverdale in itself is a locality with everything present in it. With 31 Acres of area, it has three premium residential complexes mainly Riverdale Residencies, Riverdale Grand and Riverdale Heights. The space, the view, the location and the amenities, combination of all these into one makes it one of a kind.

Riverdale Heights is the first offering from Riverdale, with 1 & 2BHK apartments, designed perfectly taking care of needs and demands. It’s all about how you want your house to be like. With amenities like large clubhouses, ample parking, swimming pool with attached children’s pool, large banquet hall with green lawns, Tennis court, Half- Basket Ball Court, Mini Football ground, Swimming Pool and Cricket pitch with nets. With everything what you need, Riverdale has got something for everyone.

India’s real estate market condition is going atrocious with the terms like slow sales and price correction coming into the scene, still Pune’s real estate market is viable as it seems. It stands out as the only city to still see growth in the industry with these conditions prevailing around the country’s market condition. This is a prodigious performance keeping in view the conditions of markets around the country, including cities like Bangalore and Mumbai also.

As per the research, the growth of city’s market is on overdrive mode, beating Delhi-NCR to be the third largest residential market. The reports say the new launches will go up by around 15 per cent with a growth in sales of 6 per cent. The growth in sales will be limited to a 6 per cent as the investors or home buyers are on a wait-and-watch mode and are expecting further more positive light on the country’s economic front. The growth in prices with remain stagnent and growth reaching double digit will be grim as the rate of growth in sales to growth in supply would be limited.

After seeing so much, Pune’s market is still one sustainable housing market which has grabbed its position and is not ready to leave it in the coming future. It’s one of the fastest growing Metro in the country. The Pune-Mumbai Expressway, Internaltional Airport and IT/ITeS Hubs are some reasons for the rapid development of the city. Also with the presence of large-scale industries, good educational institutes, a huge young population and pleasant climate all throughout the year.

One more reason for the stability is that, the developers in the city create assests according to the demand in the city, so city has segments which are ranging from affordable homes to large luxurious apartments, bunglows, row houses, etc. Also, houses fetch good rentals as the migrating crowd is higher, with maximum of students and IT professionals.

The Pune’s Market has been stable with demand and supply being fair at both sides, but the immediate future may change because of low sentiment. The RBI’s unwillingness to bring the interest rates, which has made some cost-effective buyers to hold-back their purchase and wait for some favourable signals from the economy. Nevertheless of the buyers holding back Pune’s market has outperformed other markets, so with any change in the sentiments, we can see a full-paced growth in the sales.

For around a decade now, investment in property has proven to change the life for a lot of people and considering the present situation for a lot of investors now it is still going to be one of the best areas of investment in the coming years. There are a set of risks and benefits with property investment but still the ROI depends on a lot of factors which would be considered.

Good Profits

Investing in property and receiving good profits should be done in accordance with the price range and also ROI on the investment. For flats in the range of 1-2 Crore do not have a higher ROI than flats in the price range of 50 Lakh. So to create high profits the amount of time also matters and also the market condition for that span of years.

Tax Benefits

Consider that you take a loan to invest in a flat in any area in Pune. The basic motive is both gains as well as a place for his family to stay. The interest and principal are tax-deductable. Since you fall in the 30 per cent tax bracket, your return is higher compared with investing in a fixed deposit and paying tax on the interest earned.

Additional Income

It is rental income that can be acting as an additional income. If your new home is located near IT hubs — opening up the option of leasing it as a corporate guest house is a very viable option. You can find that investing in property is relatively less complicated. If you are careful about details, such as location, quality of construction and trust factor with your developer, a home can make for a sound investment.

Now considering the risk part, there are a lot of different risks involved, due to a lot of factors which make it a lot more risky than investment in anything else.

Illiquid Investment

If you buy a flat in any region, but due to oversupply of homes in that area, there has been no price appreciation. Neither are you able to sell the home for a decent price, even after trying for nearly a year. A sizeable fund is lying locked up, not earning any return. If you had invested it elsewhere, you could have built your wealth in the same period of time.

Low Return

Not earning enough returns after having stayed invested for a while is what happens sometimes when you buy a house and market does not appreciate in the price. If you bought a house in the suburbs as an investment for around three years. When you tried to sell the house, you were not able to get a good buyer who was offering a fair price. After many months of struggle, when you are finally able to lease the house out to someone. But the whole point of buying that house was for investment and it is not working out that way.

Property may be an interesting investment option to consider by those with a large corpus, say over ₹40 lakh. Before you invest, be sure to put away an emergency fund. Only invest what will not need for at least three years, as the wait period to realizing returns is long. While half of the property buyers have a pure investment motive, the other half may have other motives – self-use in the future, a weekend home or gifting to children. It is best to pay off loans on your first home, rather than be in a situation of having to handle two mortgage payments.

Owning a home offers tax advantages by way of interest payment, principal repayment as well as capital gains. The tax advantage under Section 80C has been increased to 1.50 lakh for the assessment year 2014-15 and 2015-16. Irrespective of the number of houses owned, you can claim repayment of principal on housing loan. You can also claim stamp duty and registration fees as deduction.

Interest paid on housing loan is also deductable. Also, say, your second home is rented out and the rent received is less than the interest paid. Then, the income from the property will be a loss and this can be deducted. The second home is exempted from wealth tax provided rental income is offered for taxation — as actual rent or deemed rent. If the second house is purchased out of capital gains within the stipulated time, capital gain tax is also saved.

Pune, ranked 9^th in the terms of most populated city in India, largest city after Mumbai in Maharashtra and also it is ranked 71^st most populated in the world. It is also one of the fastest in terms of growth in the Asia-Pacific region.

Ravet has its own advantages, like accessibility, Ravet’s market drivers and its location. These factors play an important role in making Ravet the next most promising in terms of both residential and investment perspective. Some main areas of suburbs like Wakad, Aundh, Baner, Pimple Nilakh and Pimple Saudagar had their ruling days, now its time for Ravet to take the stand.

Ravet situated in the North-West of Pune, it’s basically called the Gateway of Pune as its the first town after leaving Mumbai-Pune Expressway. The Mumbai-Pune Expressway, the old NH4 and the Katraj-Dehu Road converge at Ravet. It’s location also makes it halfway between both the Hinjewadi IT Hub and Pimpri-Chinchwad Industrial Belt. Also, now as we have the non signaled four-Lane Bus rapid Transport, that makes it more time saving to reach any other locality.

Keeping in mind the current property rates which are soaring so high, the first phase targets the middle-income group with 2BHK and 3BHK flats ranging in size from 800 to 1,200 sq ft. Leaving the location now we see the amenities available near Ravet. Be it hospital, be it companies, markets, study centers or schools and colleges, everything is in proximity. In a few years span, Ravet will clinch the position of destination for Investment and rule the real estate market.

Buying a property is the biggest purchase or investment most people make in their lifetime and the government realizes this. The government has allowed income tax deductions if property is bought on loan. The borrower can claim deductions of up-to 1.5 Lakh to 2 Lakh under the Income Tax Act on home loans. The entire interest can be directly deducted from income if the property is not occupied by the borrower. These above conditions are applicable even if the money is from the friends, family or private vendors.

The present market condition possesses a problem as there comes a delay of completion of projects. This in turn creates problems for the borrowers. The borrower cannot claim any deductions in interest if their house is not fully constructed. A buyer, on the other hand gets the benefit of principal amount. On possession, the borrower of the property could hereby claim the deductions for the interest paid during the pre-construction period. To take advantage of the current scenario, a couple should take a joint loan which allows each to claim full tax deductions for both the principle and the interest. This is also applicable for child and parent.

If the borrower has only one house and it is self occupied, there is no taxation in this case but if there are more houses and its neither let out nor occupied, the taxation here might get a little complex. In such a case, owner should get a national rent value and pay tax on it. A proper method is followed to calculate the the national value, taking into consideration the municipal corporation value of property and rent control legislation or the ongoing rent rates of locality.

If a person is trying to claim housing loan deductions and housing rent allowance(HRA) at the same time, it causes trouble. Many people claim HRA because they have a home in different city and they live in a different city. The department allows you to claim HRA in the same city also with genuine reasons, like if you have a home in suburbs in the city and you have your office in the city. While calculating the national value of your second home, you could deduct some taxes like municipal taxes and also an amount of 30 per cent of the value towards repair and maintainable.

When its the time for selling the property acquired, the tax to be paid is calculated on the profit generated. If it is sold within three years of acquisition, seller needs to pay Short tern Capital Gains(STCG) and the time period is more than three years, they need to pay long tern capital gains(LTCG), which is about 20 per cent plus surcharge and cess. The whole tax outgo can be saved if seller buys a new property equivalent to long term capital gains within one year prior to sale date. It the property is under construction the time period is three years. While calculating STCG and LTCG tax, one can deduct money on improvement and also for acquiring the assets such as stamp duty, legal fees and payment of brokerage.