Financial Planning Guidelines before you buy a house

Financial Planning Guidelines before you buy a house
Financial Planning Guidelines before you buy a house

Financial Planning before buying a house is one of the best things that you can do. Before you start planning the locality or planning the colour scheme of your house, you should plan your finances. Initial planning is very important as it will determine all the major aspects of the home purchase. How much loan you might need, EMI amount that you should fix and whether you should opt for the EPFO scheme or not? You have to think and ponder upon many things before you plan the purchase of a new house. To help you understand the financial needs and planning in a better manner, we have compiled this post. So, if you are planning to purchase a new home, you should read this post in order to take better decisions in relation to Financial Planning before buying a house.

Financial Planning to buy a house – Understanding the various dynamics: 

 

  • Checking the Credit Scores is a must!

Start with checking the credit scores. Even if you are applying for a small amount of loan, your credit score will be a major factor in the process. It will represent your ability to repay the loan. If you have a bad credit score, the loan application might be rejected or you might not be able to get the desired loan amount. Hence, you should try to keep the credit score in a good shape; at least for the account from which you are going to do the loan transactions. In case your credit score is bad, you can take some time to improve it and then reconsider the loan. 

There is another way out of the situation where you can give legible answers to the lender. You can show the receipts and other documented proofs for your current transactions so as to show that you are in a position to pay the loan back!

  • Job History – It should be steady!

Your job history, job profile and employment status are also considered at the time of taking the loan. The lender needs to know what kind of income sources you have and whether or not you will be able to pay the EMIs. You must have a stable employment history. Even if you have job changes, it would be better if they are not because of sacking. So, try to be in a stable job for some time, before you set out to apply for a loan to buy your house. 

Once you buy a house, you can move-in which is another attractive advantage of buying a villa from a builder.Your home is one of your biggest investments. Get your dream home absolutely stress- free

OMG properties is one of the ISO certified premier builders in Palakkad, Kerala brings you new lifestyle with the finest villas and apartments where passion meets excellence, quality meets aesthetics, technology meets craftsmanship and transparency meets customer gratification.

  •  Down Payment

You must decide the amount of down payment as a beginner. The down payment should be planned such that it doesn’t leave you into shambles. Your finances should be in better shape even after you remit the amount. Further, the down payment should not be this less that you end up paying a lot of money via EMIs. Hence, planning the amount of a down payment is a big financial decision that you should take after a lot of consideration. 

 

  • Finding the balance in between the down payment and the mortgage payment:

The modern-day policies and banking allow people to buy homes with even ZERO down payments. However, the buyers fail to identify the massive wrong-doing this decision can do to their finances. You have to ultimately pay the amount. So, if you are not going to pay it as the down payment, you will have to pay it as the mortgage. Mortgage can really make your finances crunch while leaving you in a juice! So, plan well, and opt for a safe down payment amount. Don’t burn the pockets, but don’t leave them completely untouched. Find the balance between the mortgage and down payment before buying the house.

  •  Maintenance Costs:

Don’t think that just because you have purchased the home, you don’t have any other expenses. You have to plan the monthly expenses and the maintenance costs at that time as well. You have to pay the bills, the taxes, the monthly food expenses and miscellaneous expenses that come your way regularly as well as out of the blue. Hence, plan well and spend some time mandatorily for Financial Planning to buy a house. Planning the EMIs and expenses should be done such that you don’t face extreme cash crunches. Further, the house will also need maintenance on a regular basis. You might be required to buy some new furniture, or you might also need a replacement for some fittings etc. There are many hidden costs that come along with buying the house. You must take them into consideration while planning the finances. If you are buying the house in a colony or posh area, you might be required to pay some fixed annual or biennial maintenance charges. The amount varies from location to location. But, this is a fixed expense that you have to bear. Similarly, there can be many other surprise expenses that you might encounter.  

  • Documentation Charges:

While buying a home, you have to do a lot of paperwork. There are deeds, registration documents, NOCs, electricity and water applications and many other things that simply EAT your money away! You might be required to pay a lot more money than your expectations. Hence, don’t play recklessly with the loan amount or finances when you are doing a hefty investment such as buying a new home. 

  • Planning the EMI amount:

You have to pay the monthly EMIs as well! Don’t forget them, like, NEVER EVER! People tend to ignore the fact that they have to pay them monthly and finalize a value that becomes a burden after some time. Hence, you should opt for an EMI amount that you can pay every month without putting all the other expenses in a questionable range! 

So, follow these tips for Financial Planning before buying a house and make your dream home an affordable place to enjoy Sweet Dreams!

Using EPF to buy your dream home
Using EPF to buy your dream home –Things you should know

Buying your own home is a dream that can now be fulfilled more easily. With the announcement of the schemes such as ‘Houses for all by 2020’ the subscribers of the EPFO scheme can now withdraw up to 90% of the Provident Fund. Now, coming to the other hand, many suburban areas in India are now getting developed as major residential areas. Palakkad in Kerala is also emerging as one of the major residential areas. Many major construction projects are going on in the area where villas and independent houses can be bought. If you are planning to buy Houses in Palakkad then reading the following post will prove beneficial to you. 

The following post comprises details on buying the houses with EPF. So, read the following post and find all that you should know about buying homes with EPF. 

EPF Housing Scheme – Details:

  • EPF housing scheme allows the subscribers of EPFO to use 90% of the Provident Fund for buying homes. 
  • The EPF amount can be used to pay the EMIs and financing the down payment as well. Hence, buying your own home can be done easily by the Government Employees. 
  • To withdraw the amount from the EPF account in order to buy the home or to build the home, the employee must have completed at least 5 years of keeping the savings in the EPF Account. The amount of withdrawal can be done by the owner of the account, his wife or by both of them jointly. 
  •  There is a different limit on every kind of withdrawal. If you want to withdraw the amount to purchase a plot for your home, then the limit is decided by your 24 months’ basic salary along with the dearness allowance. 
  • On the other hand, if the withdrawal is being made to build a new home, the maximum cap is placed at the 36 months of the basic salary and Dearness Allowance. Once you have withdrawn the amount, you have to begin the construction in 6 months. The construction should be completed within 12 months starting from the date of last instalment. 
  • If, however, you are planning to buy a readymade home using your EPF then the deal should be sealed within 6 months of amount withdrawal. So, this is applicable to the people that wish for using EPF to buy your home in Kerala. 

So, the current policies for housing have made it really easier for everyone to own a home. So, when are you buying your own home? 

Stamp duty rates
Stamp Duty Rates and Charges on Property in Kerala

Palakkad is emerging as one of the hottest districts for residential properties. A number of construction projects are going on in the district and the place is going to become a hub of residential properties of all scales and flavours. Blessed with loads of natural beauty and amazing location that has many tourist attractions all-around, Palakkad is going to be one of the major suburbs of the region. If you are also planning to Buy houses in Palakkad, then, read the following post. We have compiled a detailed post regarding the stamp duty rates and charges on the property in Kerala.

At the time of buying property, you have to pay the stamp duty; registration charges; and cess etc. Find all about these extra charges that you have to pay if you Buy villas in Palakkad.

Stamp Duty – What is it?

  • This is the fees that you have to pay at the time of transferring the property to your name. This fee is levied by the State Government on all the documents that you need for the property registration.
  • Every state has a different Stamp Duty as per the norms of the Government.
  • As per Section 3 of the Indian Stamp Act, 1899, you have to pay the Stamp Duty for registering any property in your name.
  • This fee is charged for the verification of documents that are required for the registration process. The registration document will be an absolute and legal proof that indicates the name of the owner. Hence, it has the final say in deciding who the owner of a property is.
  • If you don’t complete the registration or don’t submit the Stamp Duty, you will not be able to call a property your own.
  • Hence, you must complete the registration process and submit the Stamp Duty if you Buy villas in Palakkad.

Factors that decide the value of Stamp Duty:

  • The age of the owner plays a crucial role in deciding the amount of Stamp Duty. The senior citizens are given subsidy on the Stamp Duty charges in all states.
  • Likewise, the women are also offered a rebate on the Stamp Duty. Men have to pay 2% extra charges as compared to women. This is why most of the people opt for women when it comes to registration of some property.
  • The Stamp Duty charges are decided on the basis of the property age as well. The market value of the property is also considered. As the old properties have less Stamp Duty, if you are going to Buy villas in Palakkad, the Stamp Duty will be more.
  • The Stamp Duty Charges of the Commercial Buildings are more as compared to the residential buildings.
  • The properties located in the posh areas have a larger fee as compared to the other areas. This is because of the type, number and grade of services and amenities available there.
  • If you want to avail any extra amenity on your property, then you have to pay more Stamp Duty. The State Government has a list of 20 amenities that come at a high price.

Calculation of Stamp Duty Charges:

  • The charges are calculated keeping a lot of things in mind. First of all, the total market value is considered. The expensive properties have a higher fee and the cheaper ones have a smaller Stamp Duty.
  • The State Government has a full chart in which every single thing has a different fee. For example, the gender of the owner, age of the owner, area in which the property is located, extra amenities that the owner has opted for and any other special regulations for the type of property.
  • You can download the list of Stamp Duty and Fees online as well and check all the fees before you Buy houses in Palakkad.

Documents Required for Stamp Duty Payment and Registration of the Property:

  • Sale Deed raised in the seller’s name
  • Khata and BBMP Certificate
  • Power of Attorney
  • Tax receipts of the past 3 months
  • Joint Development Property Documents
  • All registered previous agreements
  • Conversion Order
  • Latest Bank Statements
  • Electricity Bills and Sale Agreement
  • 7/12 Extract
  • Sanctioned Building Plan
  • Occupancy Certificate issued by the builder

Any other case-specific documents and fees might be applicable that varies from property to property.

These are the basic things that you should know before you set out to Buy houses in Palakkad. Read all the rates and special fee in the official circular provided at:

Vastu tips for positive energy at home
Vastu Tips for Positive Energy At Home

Palakkad is growing as a major choice for residences in recent times. There are many small, medium and large-sized building and construction companies that are developing the area. This has considerably piqued the interests of the people and they are buying houses in Palakkad. If you are also planning to buy houses in Palakkad or some other form of residential establishment, then read the following post. It has some really beneficial and highly effective Vastu tips for positive energy at home. Read them carefully and follow them to create a lovable, positive and content aura in your homes.

Vastu Tips for positive energy at home

  • Keep the entrance unobstructed and open:

It is one of the most beneficial Vaastu tips that you should follow no matter what. This is highly crucial to let the positive energy enter your home. Apart from having the main entrance open, you should always ensure that there is no obstruction in the way and that there is no window or door right in front of it. This type of situation basically lets the positive energy leave your home as soon as it enters. So, avoid it.

  • Keep the home clean and organized

It is important to keep your home organized and free of a chaotic mess. Chaos attracts chaos and mess is a perfect storehouse of the negative energy. To make sure that your home stays full of positive energy, you should never let the clutter spread in your home. The toys; utensils; any other commodity that has broken, should be thrown away – it will not let negative energy to manifest in any form in your home.

  • Magnetic Colours

There are some colours that are associated with positive energy. White, earth colour and all the colours of a rainbow are extremely auspicious and a harbinger of positive energy. These colours fill your homes with absolutely pure and vibrant energy. Keep the extremely dark colours away for a home that spells peace and harmony. 

  • Mirrors

Mirrors have always been associated with energy and its various forms. Mirrors reflect energy in all forms. Hence, they reflect positive as well as negative energy. Hence, you should place them on walls at strategic locations. You should not have mirrors in your bedrooms if you wish to have a peaceful sleep. Mirrors attract a lot of energy and thus, the energetic confluence in the room makes it hard to enjoy a peaceful sleep. 

  • Let nature bring peace and harmony in your home:

Install some indoor plants in rustic planters that are directly associated with nature and natural elements. Money plant; plants that bear flowers and bamboo are some lucky plants that are recommended by the Vasstu Experts. So, if you are planning to buy readymade houses in Palakkad; don’t forget to have a small indoor garden or indoor planters in your new home.

  • Wind Chimes

Basically, the tradition of having doorbells at the entrance has a deeper meaning to it other than just being the announcer of any new person’s arrival. Music brings positive energy and is thus extremely auspicious at the entrance of your homes. You should install some lovely wind chimes that create superb music when they come in contact with the wind. Let the music bring lots of peace and positive energy in your homes.

  • Fresh and Fragrant homes

It is important to have a home that is fresh and fragrant at all times. A bad smelling home is a perfect storehouse of bad energy. Keep your homes fragrant with fresh flowers; incense and other such essentials. Don’t let any kind of stench build-up in your home to keep the negative energies at bay.

  • Keeping the statues of gods

Always keep some statue or images of the gods or any other religious symbol in your home. If you can install it on some height, it is even better. These statues and religious symbols create a powerful source of positive energy in your home and keep the overall atmosphere full of harmony and peace.

  • Don’t keep trash in front of your home:

Keeping trash in front of your home will only bring negative energy to your home. Hence, don’t let the trash build-up in your homes and keep the trash cans in the backside. Make sure you empty them on a daily basis.

These are some tips that you should follow to keep your new houses in Palakkad full of positive energy at all times. Combine the feeling of having a new home with the best Vaastu tips and create a lovely aura in your home that brings peace to all the residents.

Advantages of buying a property in Joint Names
Advantages of buying a property in Joint Names

Houses and Villas in Palakkad

If you are looking for buying or renting a villa or a house in Palakkad, then you can contact OMG Properties for this. They provide the latest technology houses and villas are environment-friendly and with the latest amenities. This organization has over fifteen years of experience in building houses. Other than apartments in Palakkad, they provide villas in Angamaly and Ottapalam. If you go to their official website, you can check the pictures of the apartments for sale. The houses are built in a calm and peaceful area so that the denizens of the houses are not bothered much about pollution. Therefore, you can have a look at the villas available from OMG properties and call them at 9072 345 309 to book one or get a correspondent from their company for further reference.

If you have made up your mind regarding buying a property, either villa or a 2 or 3 BHK flat, then you may think of buying the property jointly under the name of you and your wife or husband. You can also think of buying the property jointly with your parents. There are certain advantages associated with buying a property jointly. Let us go through some of those advantages.

Advantages of buying a property in Joint Names

Tax benefits-Under section 80-C there is a provision of rebate on the tax up to 1.5 lakhs if you or your husband is the primary income member and the house is bought jointly with the names of the respective other spouses. You can claim a tax rebate of up to 1.5 lakhs for principal repayment. If you intend to do the registration of the house immediately, then you can also apply for a rebate in the registration fee. The amount that you will get a rebate up to depend on the value of your property. Therefore, this is a huge benefit for those who have only one income member in the family and is looking for a new house.

Succession of the property-If the property is jointly under the name of both the spouses then the legal ownership of the house doesn’t create a problem in case of death of one of the family members, whose name was on the house deed. The house automatically comes into the legal possession of the other spouse. The legal hassles are much less in case of jointly held properties. The only thing is that the house deed should have the names of the owners of the house clearly mentioned as joint owners. If that is there, then in case of the sudden demise of one of the joint house owners, the ownership will be transferred to the other joint owner(s).

 Applying for loans-This is a very lengthy process and starts much before you get the physical possession of your house. If there is a single member in the family that has an income, this process is surely tiring and strenuous as the responsibility of repayment of the loans lies on either the husband or the wife of the family. However, if both the family members are working and they apply for joint ownership of the house, then the process of the loan repayment becomes much easier. Normally after you apply for a home loan, the banks take time to scrutinize your papers and see the credibility and durability of your job position. This may take quite a while. Now, if both the husband and wife jointly apply for a home loan, for a house they are going to share the ownership, the checking of the documents become faster. The banks can associate higher credit score to your application. The chances of getting your entire home loan sanctioned are much more if you and your husband or your wife jointly apply for the loan. Now once you get the loan sanctioned, you will have to worry about the repayment of the loan. With the ownership and loan application being shared, repayment of the loan also gets shared and becomes much faster. One of my friends has recently bought a house with joint ownership. In their case, both the husband and wife are working. Therefore, within two years of their obtaining the home loan, they have repaid almost 50% of the loan.

Therefore, from the above arguments it can be clearly said that joint ownership of a house is far more advantageous than single ownership.

Tips for preparing your home for summer
Tips to prepare your home for the summer

Summer in Kerala

It can be said that March to June is the time for summer in Kerala. Although sometimes the temperature starts soaring right from the month of February, the summer properly sets in from the month of March. The temperature may become as high as 40oC. People come to visit Kerala in the summer to enjoy the beauty of the backwaters. However, when people come back from the cool climate of the beaches and backwaters to their warm hotel rooms, it is not a very comforting feeling. If you own a house in Kerala, and you don’t have air-conditioned rooms, then you should think of making small amendments to your house to make it summer ready. If you live in Kerala, then here are a few tips for you to prepare your home during the scorching heat.

Tips to prepare your home for the summer

Red Oxide Flooring-In Palakkad, this is a common feature to keep the floors summer ready. If you own a house with floor tiles, then you will know how hot it becomes during the summer afternoons. One good solution is to revamp the flooring with red oxide coating. One interesting fact is that this kind floor work was introduced in Kerala by Portuguese traders. The entire floor work takes maximum 5-6 days to finish. This floor work is not very costly and yet summer friendly. Therefore, if you want a really good solution for the summers at a moderate cost, then red oxide flooring is a good one.

 

Ventilators near the ceiling-If your house is of a modern structure, then there are very rare chances to find ventilators in the rooms. In fact, in these days, rooms contain windows only and ventilators are mostly found in the kitchen. However, there are many houses in Palakkad, Kerala, where there are ventilators in every room. When the fans in a room run constantly more than 24 hours, then the air inside starts to become hot rather than cold. This hot air goes up in the room and it doesn’t get a chance to move out of the room if there is no ventilator near the ceiling. If your room contains two ventilators and two windows on the two walls of your room facing each other, then you will feel much cooler than a room having only windows. You may not even need an air conditioner. Therefore, you should approach an efficient builder to provide you a house with scientific ventilation.

 

Keep air-conditioned rooms-If your house doesn’t contain ventilators at all and you cannot find people who can drill ventilator shaped holes on the walls of your room, then you can think of installing an AC in your room. If you have two bedrooms, then you will have to buy two ACs to beat the summer heat. If you own a villa in Palakkad and have more than three bedrooms, then you can think of installing the ACs in all the main bedrooms and in one of the guest bedrooms. People who do a lot of cooking can install stand fans in their kitchen. As the kitchen area is generally not very wide, it is pointless to install an air-conditioner there. Therefore, stand fans are a much cheaper and effective solution for the kitchens.

False Ceilings-These are really very effective in keeping the rooms cold. The rooms look very classy and yet give you the necessary comfort in the summers. Unlike, option three, this option is generally provided to you by the builders of your house. If you have already bought a house in Kerala, and do not have this feature of false ceiling, you can contact any builder group to provide you with the labourers who will add the false ceiling to the ceiling of your house.

To conclude, if you stay in Palakkad, and you are looking for scientific houses, having any or all of the above properties in your future home, then you can contact OMG Properties. This group of builders will provide you with the latest model for summer houses or villas, within affordable price. They have a legacy of 8 years in this industry and have been famous to build rock-solid houses with innovation and comfort. Therefore, for nice summer friendly houses and cost-effective villas, contact the officials of OMG properties at 9072 345 309 or drop them an email at info@omgproperties.in.

Importance of property insurance
Importance of Property Insurance

Investing in a property is the investment of a lifetime for the common man. It is probably the biggest investment the common man makes in their lifetime. It is years of savings of the hard earned money. So, it is for the best that the savings do not go into a waste or worse, into a loss. Taking out insurance of the property is the best way to save and protect the savings of the lifetime.

The basic idea behind taking out insurance of the property is not to become financially crippled following a loss. The insurance allows one to stay financially whole during dire circumstances. This is the darker side one evaluates before taking out the insurance. This is not the only reason, but it is one of the few. Before jumping into investing randomly in some properties, check out the Villas in Palakkad. They are surely worth your investment

The insurance of a property is not a luxury, it is a basic necessity 

  • Insurance provides protection against property damage

 

Irrespective of the size, location, and type of property, it is vulnerable to natural calamities and blunderings of a thief. So property insurances cover damage costs due to floods and monsoon, fire, earthquake, hurricane, and burglaries. Suppose the property is built on land which is susceptible to erosion and the house comes crashing down, it is a good thing that the property has insurance.

  • Insurance provides protection for jewellery and art

This is for owners who own expensive jewellery and art pieces or other valuable art artefacts in their homes. Adding a floater to the property insurance has everything covered. This comes in as an Add-On feature in the property insurance. Moreover, this add-on feature will cover any damages to the personal items. Though, one should keep in mind that, this add-on feature only pays out a fixed amount and not more than that.

  • Insurance provides protection against liability

Liability coverage protects the homeowners from incidents that occurred in the surrounding neighbourhood or an incident occurred in the next door neighbour’s house and has affected you. Liability coverage provides damage costs to such incidents that may happen any time, unannounced.

  • Insurance provides protection for commercial ventures

If the homeowners decide to rent out the place to a family with kids, or to college students turning it into a dorm, or singles with pets, then the homeowners are generally held accountable for any structural damage or physical damage caused during the time of tenure. In cases where the tenant gets injured and files a lawsuit, the insurance may also provide some coverage.

Gathering the final thoughts about the insurance of the property

These were a few basic guidelines to keep in mind while sealing a deal while buying the insurance. It is of utmost importance that one must follow the checklist for property insurance before nailing the deal. One must also read the policy thoroughly and understand the terms and conditions of the same. Second guessing does not help. What helps is knowing what the policy is covering for and what not.

Knowing the coverage helps while claiming. Be safe and be covered.

Tips for preapring your home for monsoon
Tips to prepare your home for the monsoon

No matter how much we love the rain, sleeping in the rain while it drenches us is not fun at all. As a matter of fact, we love the rain from inside our houses. Sitting beside the window, watching the raindrops fall on the leaves, the smell of the earth after rain first hits the ground, cooling it down. All these instances with nature are lovable only from inside the home and not outside the house.

Plus, getting wet on a regular basis will definitely make us ill, very ill. So before the arrival of the mighty monsoon, it is a good idea to make our houses monsoon proof so that we can enjoy the rain from inside the house and spend blissful evenings.

Ready or not here we come …. 

Hailstorms, winds, dust, continuous heavy rain, all come together with the arrival of the monsoon season. In fact, the monsoon season announces its arrival with the wind blowing at a great velocity, shattering everything that is in the way and then the downpour starts.

And, surely waking up to dip .. dip.. dip is not pleasant enough. The Eco-friendly Homes of Palakkad are tough enough to withstand any season with ease.

So, here are a few ways in which we can protect ourselves during monsoon.

Getting ready for the monsoon 

  • A pre-monsoon inspection of the house is necessary

Checking the house all over for leakages and cracks is necessary. Damaged tiles cause seepage, loosely fitted window panes which might shatter if the wind blows hard and the corners of the house for any minor cracks, everything should be thoroughly checked.

  • The terrace should not be left out.

The terrace is where the rainwater accumulates. Ensuring that the roof and the terrace are free of any cracks will prevent dripping inside the house. A waterproof coating will serve the purpose very well. Replacing rusted pipes and checking the water drainage will allow free passage of the water.

  • Preventing the breeding of insects.

The damp, wet and soggy atmosphere and surroundings are optimal for various insects to breed. So keeping an eye in and around the house is important. Keeping a check for stored water near the drains can help in preventing mosquitoes.

  • The electric connection

We all know how electricity and water work when they combine together. And we surely do not want anything of that sort so sorting out any loose connections and plug points will prevent any kind of mishap

  • Cleaning out of the garage

The over-stuffed garage definitely needs a cleanup.  Parking the car on the streets during the monsoon is not at all a good idea. Falling branches and uprooting of huge trees is not uncommon during monsoon. Plus water may seep inside the care and engine if a flood occurs, which will cause great damage to the car. So it is best if the car is not standing on the streets and is inside the garage. This will protect the car from the hailstorms, rain and any damage due to uprooted trees and falling branches.

Buying re-sale villas
Buying a resale villa or flat – Checklist to follow

Buying a resale villa or flat makes sense; it is a wise decision, at many levels. The location of the property matters to most home buyers. For instance, you can choose from villas for sale in Palakkad, in prime locations. When buying a resale flat or villa, buyers can really choose and pick and select a home based on their preference, such as infrastructure – close to school, workplace or the metro station. The price of a resale flat or villa is generally negotiable. There is no fear of project delays, and such properties are usually located in established localities and are ready to move in.

 On the flip side, an old resale property could require repairs and renovation, which could add to its cost. Since, no big promoters are involved, acquiring a home loan to purchase an old-property can be challenging. But the pros outweigh the cons.

Essential documents

Before buying a resale villa or flat, buyers must familiarise themselves with the legalities and paperwork. This article walks you through a basic checklist of documents that need to be verified, before making the transaction legal.

 There is a long list of documents that are required to buy a resale property. These are legal documents and establish the veracity of the property.

Sale Deed

The Sale Deed is a key legal document and a seller must have one executed in their name, for the property they propose to sell. The sale deed proves that the seller of the property is its rightful owner and authorised to sell it and that there is fraud occurring.

 Once you go ahead with the purchase, you will be required to register the property at the office of the Property Registrar and a fresh Sale Deed will be executed in your name; thus transferring the ownership of the property from the seller to you.

Re-sale villas in Palakkad

Sale Agreement

A Sale Agreement will need to be executed between the seller and the buyer, before the execution of the Sale Deed. Before that confirm that the property has a clear title and that there are no encumbrance charges on it. Ensure that the seller has paid all statutory bills such as property tax, society maintenance charges, electricity bill, water bill etc.

 

Parent Document

Parent Document also known as the Mother Deed is a record of the ownership antecedents of the landed property, over the years, registered at the Property Registrar’s Office. For example, the land records of all Villas in Ottapalam, in a gated community, available at the Registrar’s Office, will be entered in the Parent Document. It establishes whom the land belonged to prior to being owned by the present owner when it was bought. It is a very important piece of document that establishes the legal status of the property.

 

The ownership of the property is listed in chronological order, clearly mentioning how the property changed hands – via inheritance, partition, gift or sale.

Encumbrance Certificate (EC)

The EC can be obtained from the office of the Registrar of Properties. It is a legal document that denotes any liabilities that might be created on the said property. It also establishes the ownership of the property.

 

For instance, if the property includes villas in Angamaly, the EC will have all registered transactions for them, for the specified period. The document will mention if the properties are mortgaged.

Property Tax Receipt

Properties attract a property tax, which needs to be paid to the municipality/panchayat, on a yearly basis. Ask for the latest tax receipt, to ensure that there is no default in the payment of the property tax.

 Important steps before buying a resale villa or flat

As a final step, buyers must check the property and the neighbourhood thoroughly.

 

  1. Is it a safe neighbourhood?
  2. Are the approach roads accessible and safe to drive at night?
  3. Does the property receive corporation water or would it need tankers, sumps, groundwater etc?
  4. Is the property built on a low-lying area, or in a lake bed?
  5. How efficient is the drainage – are stormwater drains in place?
  6. Ensure that there is no garbage dump close to the property
  7. How is the construction – check for cracks, seepage and other faults
Eco-friendly villas in Palakkad
How to make your home more Eco-friendly

You don’t have to take to the streets, hold banners and raise slogans to be an environmental crusader. You can stay at home and make a favourable difference, to the environment, by adopting eco-friendly practices, in your immediate surrounding. Eco-friendly living is the need of the hour and as a first step, all it requires, is a conscious effort, on everybody’s part, to reduce their adverse impact on the environment. That cannot be too difficult a challenge to accept – right?

Global warming, climate change, natural calamities, melting glaciers, deforestation and pollution –we are already in the midst of a crisis. And it won’t be long before we are unable to set things right. We need to act now; the onus of preserving the environment is on us.

Eco-friendly homes have a big market

There has been a sudden spurt of new houses in Palakkad, thanks to the new IIT and urbanisation that is taking place. In tune with the growing demand, property builders and realtors are constructing eco-friendly villas in Palakkad. In fact, that entire region is seeing a lot of development, with a number of projects available for real estate investment. Eco-friendly villas in Ottapalam and eco-friendly villas in Angamaly offered by OMG Properties are a good investment option.

There is no denying that eco-friendly homes are better for the environment, and that is just one of the aspects to consider. These homes are also aesthetically designed, comfortable to live in and a lot cheaper to maintain.

Create an eco-friendly home

Have you given a thought to living in an environmentally friendly home? Are you willing to initiate a change, to reduce the carbon footprint, in your own home?

There is a lot that you can change in your immediate environment to affect a desirable change:

  1. Switch to eco-friendly detergents, dish soap/liquid etc.
  2. Chuck plastic scrubbers and sponges for scrubbing dishes, use coconut husk instead
  3. Do away with the synthetic kitchen cloths and paper kitchen towels, switch to good old cloth pieces
  4. Avoid chemical fertilizers and pesticides in your garden, choose organic solutions instead
  5. Ditch plastic products, opt for bio-degradable alternatives
  6. Reduce, recycle and reuse
  7. Conserve water; save electricity – turn off taps and switch off lights and fans
  8. Buy organic, naturally grown products
  9. Plant trees, start a terrace/balcony garden, invest in potted plants

Banish all chemical based products from your home and replace synthetic products with natural ones. A coir foot mat is a better choice than a rubber one.

Eco-friendly villas in Palakkad

Allow natural light and improve ventilation

Minimise artificial lighting in your home by making use of natural light. Pull the screens to allow natural light to filter in, and diminish your dependence on artificial light. Opening doors and windows enable good air circulation. Fresh, cool air can bring down the ambient temperature inside the home and provide respite from the heat.

Indoor plants make great décor pieces and add to the appeal of a room. They also improve the air quality and lower the temperature within the home.

These practices will reduce energy consumption and lower electricity bills.

 

Tap solar energy

An investment in a solar power plant of 2-3 kWs will make you almost self-sufficient, where your power needs are concerned. You will be able to run all your fans and lights, washing machine, television, computer, food-processor etc. on solar energy. You will only need to pay to run the air conditioner, during peak summer months. That is fantastic for eco-living.

Insulate your home

Proper insulation can also drop your energy consumption. Plug gaps in the windows and doorways to keep the cold and heat out, especially if you are using the air-conditioner and heater.

Use thick curtains in summer, as it can act as an insulator and keep the heat out. Windows facing the west and south require have extra insulation, in the summer months, to prevent direct sunlight from entering the house and causing the temperature to rise.

Install double-glass windows, use tinted glass or have sun-film fixed on an ordinary glass and watch the eco-friendly quotient of your home go up.

Painting hacks

Paint the exterior walls and terrace of your home with heat reflecting paint. This simple trick will ensure that your home does not become overly heated in summer. Use toxic free paints, that have LOW-VOC mentioned on them.

 

Appliances and gadgets 

Always buy energy efficient gadgets and appliances with a high Energy Star Rating label, as they are eco-friendly. Use LED bulbs for lighting, since they are energy efficient and release less heat.

Switch off electrical devices when they are not in use. For example, don’t leave the television set or the microwave plugged in, on standby mode, if you aim to build an eco-friendly environment at home.

These are a few methods that you can use to kick start your going green initiative at home.