Advantages of buying a property in Joint Names

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