Categories

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.

home loan tips
Home loan tips for first time buyers

Home loans are generally applied for by the middle class sections in Palakkad, Ottapalam, Angamaly, Vaniyamkulam areas of Kerala. The houses that are bought with loans are 1 BHK, 2 BHK, 3BHK, 4BHK, and villas. It has been found that the villas or bungalows are either bought by the upper middle class or body corporates. The houses are to be bought according to necessities. If you have only 2-3 persons in a family, among which one is a child, then 1 or 2 BHK will be favorable. If there are more than 3 persons, then you can choose from the rest. In Palakkad or Ottapalam, the 1 BHKs start from around 15 lakhs, 2 BHKs start from 27 lakhs and for the rest, the price will go higher. Let’s take a look at how these bank functions.

Banks providing home loans

PNB Housing

If you are applying in Punjab National Bank, then they will charge you around 9.10-11.25% per annum for salaried people. For others, the rate of interest may go up to 12.5% per annum and this amount includes the processing fee

Axis Bank

If you wish to borrow from Axis bank, then the basic processing charge on the loan amount will range between 0.15% to 0.35% depending on whether you are a salaried professional or a businessman. The floating rate of interest is much less than that of PNB and could be a maximum of 9.10%.

Guide for NRIs real estate investment

Indian Bank

If you wish to borrow from Indian bank, then the starting interest rate is quite low, which is 8.60%. The maximum limit is 9.70% for business persons. This bank will offer you a home loan for a tenure of maximum 20 years.

 

Bank of Baroda

If you will be buying a villa and are sure that the term period may extend up to 30 years, the Bank of Baroda is the best choice. The rate of interest starts at 8.75%.

 

HDFC

If you wish to apply for a loan from HDFC bank, then the bank will charge a rate of interest in between 8.90-9.40% per annum for women. For loan applicants other than women, the interest rate can go up to 9.45%. To process the loan, the banking officials will take a processing charge of up to 1.25% on the loan amount. HDFC provides various types of home loans to cater to needs to all.

Tips for first-time buyers

Among the first time buyers, there could be an individual or a group of two-three partners forming a company. In the former case, the rate of interest and processing charge will be lower in comparison to the latter case. So, we will be putting forward tips for both groups.

  1. If you are an individual, then you should apply for a home loan when your one month salary is at a level that will allow you to provide for at least two month’s EMI along with the processing fee. A small company, when applying for a loan, should also keep in mind about the EMIs. They might be taking the loans for a 4BHK or a villa. In that case, the processing charge will be higher. So for them, it will be better to keep a constant working capital to finance the EMIs.
  2. Keep a good credit score. For individual loan takers, the credit score will improve by how much you are repaying the loans. The small companies can improve their credit score by improving their goodwill and prompt loan repayments in the market.
  3. When you are aiming for a home loan, you must know, that most of the times you will have to mortgage the house and if required you also might have to mortgage the cash securities. So, you must think until when you will fully repay the loan. If you are not able to pay the loan and the interest within the time stipulated by the bank, your mortgaged properties will be acquired by the bank. So calculate maximum amount that you can repay from the time period you have in hand. Don’t buy a property, whose loan you cannot repay within time.
  4. Always research on the banks offering the loans. Some banks have lucrative offers for individual buyers, some are more lenient towards companies. So not every bank have ideal home loan offers for all customers. Make a note of the interest rate, repayment period and processing charges of multiple banks and then finally narrow down a bank for a loan.
  5. This tip is for individual buyers. If possible clear some of the EMIs in one month. This is possible when your salary amount is at least 3 times higher than each month’s EMI. If you clear some EMIs as a lump sum amount, then your loan principal and rate of interest may decrease.

All in all, first-time buyers spend a lot of time stressing about how they should go about applying for home loans. This article will help them in choosing the loan based on the schemes offered by the banks. Make use of these tips and always keep improving your credit score. If your credit score is bad, then no bank will be keen to give you home loans at any point of time.

To know more about other required documentation check out the blog – Must follow checklist before buying your villa in Palakkad.

real estate in Palakkad
A guide for NRIs investing in real estate in Kerala

NRIs or Non-Resident Indians have invested in the real estate for quite some time in the metropolitan cities, especially New Delhi. This genre of investment has been lucrative in many states of India. Kerala is one of them. After the LPG movement of 1991, there had been a lot of changes in the laws and rules guiding the investment procedures of NRIs. Here in India, NRIs can invest in both residential and commercial houses. The rules guiding the transactions of real estate fall under FEMA or Foreign Exchange Management Act. The NRIs are allowed to buy or rent houses in India and transfer the income to the bank accounts that are legally allowed by the government of India. They are also eligible to take home loans for buying property from the Indian banks. To know more about home loans check out the home loan tips for first-time home buyers.  The interest rate applicable to any Indian buyer who is a part of the QIB is also applicable to such NRIs. They can repay their loan from the rent that they receive from the real estate property. They can save the rest of the income in their NRO or NRE or FCNR(B).

Guide for NRIs to make their investments in real estate in Kerala

Research

This should be the first step toward investing in Kerala. There are various kinds of housings in the real estate of Kerala. However, not every kind should be invested in by each person. First of all the NRI should decide their main objective behind the investment and what would be the duration of their investment. For short term investments, they can buy 1BHKs or 2 BHKs. For long term gain, they can invest in villas or bungalows. One piece of advice would be to choose those areas for investment in real estate which is politically stable and economically sound.

Bank Account

The NRIs should create their NRO or NRE account to save the income generated from the rentals. These accounts can also be used for repaying the loans that they have taken while buying a house or an area on which to build a house.

Guide for NRIs real estate investment

Lawyer

An NRI willing to invest in real estate should contact a lawyer who is local to the towns or districts in Kerala. Real estate is such an investment that involves a lot of legal procedures. These procedures start right from the acquisition of land. It would be advisable to hire a group of lawyers who would research and investigate the area which is subject to investment. This way most of the legal procedures could be planned and taken care of at the initial stage.

 

Acquiring RBI approval

The NRIs should act according to the rules specified by RBI. In certain cases of investment, the NRIs are not required to inform RBI in the initial phase. However, they are bound to follow the rules of RBI. On the other hand, certain kinds of investments in real estates are totally banned by RBI. Certain investments require prior approval of RBI and in such cases, an NRI cannot start gaining income from a real estate property unless the necessary documents are submitted to RBI and the concerned authorities of RBI approve of the documents. There is a list of documents that an NRI must have, before applying for approval. Every NRI should make a note of it from his or her lawyer and submit them.

Income Tax 

Just like any Indian citizen staying in Kerala, the NRIs who wish to invest in real estates of Kerala should pay income tax. There are some categories of income where they can get a certain amount of tax concessions. These areas could be utilized by the NRIs just like the citizens of Kerala.

Repatriation 

An NRI is mostly interested in repatriated incomes. For that, they create their bank account accordingly. Therefore, an NRI should avoid creating an NRO account. Repatriation of inherited property requires the authorization of either RBI or Central Bank. The concerned authority should be informed as and when income is generated from such repatriation.

Under-construction properties

An NRI can invest in properties that are under construction. However, most of the deals of the under-construction property would be done with the help of a lawyer as mentioned in point 1 and an Indian trustee. This trustee to be selected at the beginning of the investment. It is advisable to keep such a trustee from the local citizens.

To conclude, investing in real estate is filled with a lot of opportunities. This is the reason, many Indian businessmen have involved themselves in real estate businesses. Needless to say, that the NRIs will be interested in this genre. In the initial phase of their investments, they would require to keep themselves restricted to short term capital gain and one kind of property. Eventually, they will gather enough experience to expand their investment plans into various kinds of real estate properties. Hopefully, the above guidelines will be helpful for the NRI real estate investors.

Villas in Palakkad
Why choose Palakkad as your home destination?

Palakkad or Palghat is one of those places in the state of Kerala that have been blessed with amazing natural beauty and man-made wonders. Located at the foothills of the Western Ghats, in the Southern Part of Kerala, the place is a popular tourist destination as well. You can explore the virgin forests; climb on the mighty mountains to get views of a lifetime; witness the fierce Tigers in their natural habitat; explore the old remnants of the rich history of the region, and enjoy some really tranquil and relaxed moments in the green parks.

Recently, a number of Builders in Palakkad have expanded their avenues and constructed luxury Villas in Palakkad. Thoroughly analyzing the things to consider before buying a house, more and more people are choosing  Palakkad as their home destination. Further, we will be helping you sort out some of the best Builders in Palakkad and how you can choose Villas in Angamaly and Ottapalam which are the other two very beautiful areas to live in.

Why buy Villas in Palakkad – Reasons for all your questions

  • Natural Abundance:

You will never find yourself short of natural splendours. There are amazing getaways nearby and you can make your weekends and holidays a fun affair. You don’t have to find destinations for spending time with your friends and family as there are many places nearby. If you are an adventurous soul, you can plan a forest tour or mountain climbing tour for the Nelliyampathy Hills and witness the gems of nature like nowhere else.

  • Peaceful and Quite Area:

Though Palakkad is a tourist destination, it is very quiet and peaceful. The Villas in Palakkad are located in areas that are away from the hustle-bustle of the cities. You will enjoy a life that comes with the bonus of fresh air; lovely surroundings and pollution-free environment.

You will find fresh vegetables and fruits from the nearby farms and plantations which means that you can enjoy the best parts of both the modern and the traditional worlds.

  • Amenities and Reach:

The modern Villas in Palakkad are crafted and planned with perfection and come with highly intelligent and smart floor plans. Apart from just the villas, the whole complex is full of high-end modern amenities and services. Further, the location is such that almost all the major things such as Hospitals, Schools, Police Stations and Markets etc are at a decent distance. Hence, you can rest assured and make the purchasing decision without any anxiety.

Why choose Palakkad as your next home destination
  • Value for Money:

Since the mass building of the Villas in Palakkad, Angamaly and Ottapalam have just begun, and the prices are not sky-high; you can afford the houses without raking out the moolah from all your resources. Even if you are making the purchase for the purpose of investment, you will be in a win-win situation because the prices and value of the property in every other sense will be increasing in future.

  • Education Hub and Job Opportunities:

If you are worried that staying in Palakkad can affect the education or the career avenues of your children; then rest assured. Because, the personal urge to grow is the number one reason for success in life and the place offers great career opportunities in terms of real-estate; décor; architecture and a number of prominent educational institutes are in the vicinity.

out of a pre-built home. You find it easier to decide whether it matches your requirements

  • Resale Value:

If you plan to resale your purchase after some time and gain from the sale profits; even then you will be in benefit. This is because of the fact that the property value in the area is bound to increase in future with complete urbanization and modernization yet awaited.

Having read all the major reasons that will really motivate you for buying Villas in Palakkad; let us move onto the best Builders in Palakkad.

Builders in Palakkad – Which ones are the best and Why??

  • There are numerous builders that have completed and are currently working on the construction projects in Palakkad. But not all of them are good ones.
  • We will be mentioning some pointers that will help you in distinguishing the good builders from the average ones:
    • Track record and Experience
    • Graph of property excellence
    • Materials and Staff
    • Number of Sales in the previous years
    • Client Satisfaction
    • Cost portfolio transparency
    • Client-Oriented Approach
    • Accommodation of modern facilities and amenities in the completed projects
    • Technical Expertise
    • Architecture Uniqueness
  • These are some parameters that will help you in finding the Builders in Palakkad that are worth their salt and land in a profitable deal.
  • OMG Properties is a name that has emerged as a successful and reputed name in the myriad of Builders in Palakkad and garnered highly positive responses from clients as well as people in general.
  • If you wish to have a residence near Palakkad, then the OMG properties have also completed projects in Ottapalam and Angamaly; both of which are really good choices in terms of natural and man-made resources. To know more about the OMG properties and to have an overview of their projects such as Villas in Angamaly and Villas in Ottapalam (apart from the Palakkad projects); please log on to www.omgproperties.in.