Why you should buy property in Singaperumalkoil, Chennai GST

According to a recent article published on MagicBricks.com, Singaperumalkoil in Chennai GST is the best destination to invest & buy property. 

With metropolitan and primary locations almost saturated, the demand-supply is rapidly shifting towards new areas – the developing areas. Like saturated Delhi has given rise to NCR, Mumbai to Bandra and beyond, similarly Chennai has started expanding its horizon with demand shifting its focus on developing areas, like Singaperumalkoil off the Grand Southern Trunk (GST) road. And with these areas growing on the back of industrial influx, Chennai has for the first time emerged in the top 25 real estate destinations list in the Asia Pacific region, according to a recent PWC survey.

Singaperumalkoil is an upcoming location that is witnessing prolific development. There are several valid reasons to justify the rapid growth. In the last three years this region has grown as a major automotive and IT hub. While Mahindra World City and Ford’s presence has brought the vibrancy in the area, IT companies like Capgemini, Dell India and Infosys have helped flourish business activity. This has resulted in the infrastructural development in and around this place.

Secondly, the Sriperumbudur-Singaperumalkoil stretch is being heralded as the roads of the future. This particular stretch directly feeds into the big industrial corridors. On top of that, it merges with the Grand Southern Trunk road, a part of NH-45, which is the lifeline of Chennai.

Thirdly, this particular stretch, because of the heavy surge in traffic, is being 6-laned. This reflects the growing potential of the adjacent area which has been duly recognised by the developers. Accordingly, leading realty players like SARE Homes and others have focused on developing their projects in strategic locations in the vicinity of the GST. In fact SARE Homes has created a 62-acre integrated township that provides an eclectic lifestyle to aspiring home owners. And the fact that it is just off the main GST road, it aptly fits into the whole scheme of things.

To read the complete article, click here. 

SARE Homes Launches ‘Shreyas Villas’ at Singaperumalkoil, off GST in Chennai

SARE Homes, a FDI real estate developer with integrated residential townships across India, has announced the launch of its new project ‘Shreyas Villas’, in Singaperumalkoil, off GST, Chennai.

These are independent villas that give the buyers a ‘space’ of their own – an independent plot with no question of wall sharing. Built inside a serene 62-acre township called SARE MeadowVille, these villas also enable owners to expand the living space at a later stage, making it a highly innovative product. The expandable factor helps the owners to actually reduce the purchase price and save considerably on the initial outlay.

SARE MeadowVille, the township off the Grand Southern Trunk Road not only caters to lifestyle needs of prospective home owners, it also maximizes the value of their investments. How? SARE MeadowVille is strategically located with the automobile and IT hubs of Ford and Mahindra World City nearby with the industrial hub of Oragadam in the vicinity.

GST itself is a part of NH-45 which is the core transportation infrastructure that connects Chennai. With 6-laning of the road being planned, this essential highway links Chennai to the airport and to its suburbs. With major automobiles and IT corporations coming up, GST is opening up massive employment opportunities with increasing SEZs and various townships.

In keeping with the contemporary ethos of ensuring an environment-friendly project, all SARE Homes townships are IGBC certified.

SARE MeadowVille has all the modern, high-end amenities like 24/7 power back-up, round-the-clock security, a 20,000 sq.ft. Club house with 3 swimming pools, state-of-the-art gymnasium, health club, jogging track, aerobics & yoga, 2 badminton courts, indoor games room for snooker, carom, coffee shop and a banquet hall.  

Commenting on the occasion, David Walker, Executive Director, SARE Homes, said, “Shreyas is another jewel in our crown of innovative developments.  These exclusive villas provide owners with an independent plot and no wall sharing. We have received an overwhelming response from the Chennai market as well as industry recognition to both our townships in GST and on the OMR, and are excited to bring new products to Chennai. ”

Vineet Relia, Chief Operating Officer, SARE Homes, further added, “Shreyas is an emblem of SARE Homes’ image of a genuine real estate player who caters relentlessly to provide the best to its customers. It is quality that buyers look for when they come to SARE, and it is quality that we deliver.”

For more details click here.

SARE Homes supports amfAR’s Inaugural India Gala

SARE Homes is proud to support amfAR, the American foundation for AIDS research at the Inaugural amfAR India Gala held at Taj Mahal Palace Hotel in Mumbai on 17 November, 2013.

Mr. Anuj Gupta Chairman SARE Homes and Event Chair of amfAR India was instrumental in bringing amfAR to India and has sponsored and supported this noble cause for the last three years. The amfAR Global Fund raising Chairman Sharon Stone along with Hilary Swank, Aishwarya Rai Bachchan and Abhishek Bachchan addressed the more than 300 guests in attendance. The other event chairs were Cyrus Poonawala, Kenneth Cole and Rocky Malhotra.

The black-tie event featured a gold themed fashion show by Rohit Bal, Tarun Tahiliani , Abu Jani and Sandeep Khosla.

Other notable guests included Neeta Ambani, Venugopal Dhoot, Lisa Haydon, Dimple Kapadia, Parmeshwar Godrej, Nargis Fakhri, Sonal Chauhan, Torquhil Campbell, Duke of Argyll, Dino Morea, and Nandita Mahtani, among many others. The evening concluded with a high-energy performance by pop sensation Ke$ha.

A checklist for buying your dream house

Buying a home is a decision for life. And if you're buying a home for the first time, there could be a lot of jargons and terminology that could prove dauting. Below are a few list of questions / issues one needs to look into before investing or taking that big decision of your life.

1. What's the land use?

You need to check the land use of the property on which the project is being developed i.e. whether the land is being developed for residential or commercial purpose. Ask for a proper licence of the property from the developer.

2. Has land acquisition been completed?

Often, developers start selling apartment before acquiring the land. You need to check the official docs of land acquisition before committing your savings to the developer.

3. Does the developer have legal title?

You could hire a lawyer for conducting the title search. A unique khasra number is alloted to every property. Ask the developer to show you the papers demonstrating his ownership of the property and check in the registration name and number. With the help of lawyer, you can also find out if there is are legal disputes happening over the land.

4. Are all approvals in place?

Other than property licence, check whether the developer has received the following approvals: building plan, water, environment and pollution, and height clearance (if the building is situated near an airport).

5. Estimated date of project completion

Often, the project is completed within a certain period, say, 36-42 months from the start of construction. Get a written doc from the developer stating the date the construction will start.

6. Is there a Penalty Clause?

If there are any delays in handing over possession, the developer has to pay a penalty to the buyer, provided the penalty clause is there in the builder-buyer agreement.

7. Any extra charges involved?

The developer often collects preferential location charges (PLC), external and internal development charges. Find out if there are any hidden costs involved. Ask the developer for a written assurance stating that no further charges will be levied.

8. Developer's Track Record

Do your homework properly. Do a complete study on the background and past projects of the developer. Try and avoid novices as they usually lack the financial strength to weather a downturn. Have a word with residents of earlier projects to find out if the developer delivered the possession of the apartment on time. What were the on-campus facilities and the specifications promised within apartments? How well is the project maintained? In case of an under-construction property, visit it with a civil engineer and have him evaluate its construction quality.

It's important to understand these factors before you make a commitment to the developer and buy your dream home. At SARE Homes, we offer our customers with top quality assurances like transparency in all dealings, higher efficiency of space utilization, quality of material, established architects and contractors, professional management and personalized customer service. 

Know more here.

SARE Homes basks in realty awards glory

We at SARE Homes truly believe “Next to excellence is the appreciation of it”. It gives us immense pride to share with you a whole new set of awards added to our 'Hall of Fame'.

SARE Homes won accolades at Assocham India Real Estate Excellence Awards, Observer Dawn IRA (Indian Realty Awards) and Silicon India Chennai Real Estate Awards 2013. The company gained recognition in these events and even stood out as a premium, eco-conscious developer.

Below is the list of awards:

- ASSOCHAM India Real Estate Excellence Awards:

Best residential property in Gurgaon

- Observer Dawn IRA (Indian Realty Awards):

Realty Mogul of the Year – SARE Homes

Best Project of the Year (Residential) – Club Terraces

COO of the Year – Mr. Vineet Relia

Best Media Campaigner of the Year – Ms. Divya Pall

- Silicon India Chennai Real Estate Awards 2013:

Integrated Township of the Year South Chennai – SARE Crescent ParC, OMR

Environment Friendly Project of the Year South Chennai – MeadowVille

We continuously strive to deliver excellent quality and services to our customers and help them build their own dream home. 

Know more here.

Property Tax brings major relief to property owners

The Haryana government has rationalised Property Tax rates on buildings & land in areas under municipal corporations and simplified the calculation formulae in the state.

Earlier, property tax was calculated on the basis of Collector Rates based on current market price and with the annual increase in collector rates, the total amount of tax would increase. The high rate of property tax in major cities like Gurgaon, Faridabad and Panchkula, bothered people, forcing the government to rationalize the property tax.

The new property tax is based on the size of residential and commercial property. A slab system is set to be adopted for the property tax on industrial and commercial properties.

As per the new regulation, all the municipal corporations will be categorised into two categories, A-1 cities with municipal corporations of Gurgaon and Faridabad and A-2 cities comprising of Ambala, Panchkula, Karnal, Panipat, Rohtak, Hisar and Yamunanagar.

The owners of residential properties of up to 300 sq yard in A-1 cities, would have to pay Re.1 per sq yard. Whereas, the other four categories of sizes from 301 sq yard to more than two acres would have to pay between Rs. 4 per sq yard and Rs. 10 per sq yard respectively.

The rate for commercial space of upto 1,000 sq yd would be Rs 12. per sq yd and for more than 1,000 sq yard, it would be Rs. 15 per sq yard.

Certain areas like religious places, orphanages, alm houses, municipal buildings, cremation/burial grounds would be exempted from payment of property tax.

Source:
http://zeenews.india.com/business/realestate/latest-news/haryana-government-rationalises-property-tax_86084.html
http://www.indianrealtynews.com/real-estate-india/gurgaon/govt-mulls-major-relief-in-property-tax.html
http://www.saharasamay.com/lifestyle/real-estate/676540444/haryana-notifies-property-tax-in-gurgaon-and-other-cities.html

SARE Homes Launches ‘Club Terraces’ at Sector 92, Gurgaon

Homes for the luxury conscious

• An iconic 19-storey luxury tower with VRV air-conditioning overlooking Gurgaon’s finest 35,000 sq. ft. club
• Luxury amid 7 acres of greens – with large private terraces, luxurious lobby and more
• Part of a 48-acre integrated township

SARE Homes, an FDI developer of residential integrated townships across India, has announced the launch of its new project ‘Club Terraces’ in Sector 92, Gurgaon.

SARE Homes plans to develop this iconic 19-storey tower that will overlook the SARE club, which will be the largest and finest club in Gurgaon, set amidst 7 acres of lush, breathtaking greens.

Club Terraces offers 3 and 4 BHK apartments with VRV air-conditioning and has been exclusively designed with 3 sides open, large private terraces and French windows. Other amenities like a spacious 8,000 sq ft (743.21 sq mtr) guest lobby, recreational facilities and servant quarters having separate entrances make for a luxurious experience like never before.

 Club Terraces is unique because it overlooks a lush 7-acre green and the fact that its residents can enjoy the SARE Club. At 35,000 sq ft, the SARE Club will be Gurgaon’s largest and finest club, and has lavish offerings, like the clubhouse lobby, 4 swimming pools, modern gymnasium, indoor heated pool, billiards and table tennis room, restobar, dining lounge, library lounge, banquet hall and party lawn.

Club Terraces is part of a 48-acre integrated township that is positioned on the 60m arterial road and offers excellent connectivity. It lies on the Gurgaon growth corridor, with easy connectivity to Delhi via the expressway, metro rail and bus, and is a short 40min drive to the IGI airport.

The township itself has all amenities like shopping facilities, nursery, primary, high school, 24-hour power back-up, club house, medical facilities, adequate water supply, rain-water harvesting, organized basement/ open parking, 24-hour security, wide well-lit metalled roads and landscaped greens.

Commenting on the occasion, Mr. David Walker, Executive Director, SARE Homes, said, “After selling more than 2000 homes in our Gurgaon township, and receiving recognition by way of Industry Awards on a pan-India level, we are delighted to launch Club Terraces, homes for the luxury conscious.  SARE has a strong balance sheet and its assets in India are valued at Rs. 3,200 crores with nominal leverage. The fund’s equity is held by global institutional investors like Forum Partners and Goldman Sachs Principal Strategy (GSPS) Asia Ltd. The scale of our business will enable us to deliver best in class service to our customers and commit the resources to ensure on time delivery of our projects.”

Mr. Vineet Relia, Chief Operating Officer, SARE Homes, further added, “It gives us immense pleasure to launch Club Terraces, 3 & 4 BHK air conditioned homes offering a luxurious lifestyle. These homes have expansive 30 feet verandahs and are packed with amenities such as VRV air-conditioning and access to the SARE Club, which is set amid 7-acres of lush greens. Our Gurgaon township is strategically located on the main 60 meter road, very close to the IGI airport with easy connectivity to Delhi.”

Know more about this property here.

City pulse meets Nature

Everyone dreams about living grand. Very few get a chance to do so.

But from the moment you arrive at Club Terraces, you notice the difference. The apartments look like the breathing version of their graphic counterparts in designer catalogs. Post the successful launch of GRAND SARE Homes, Club Terraces is their latest project that epitomizes the result of the confluence of opulence and desire. This upcoming project in Sector 92, Gurgaon, is as posh as posh can be.

Offering 3 and 4BHKs with attached servant apartments, your home at Club Terraces can relish the luxury of space as well as contemporary amenities. If you're fond of strolling around your neighborhood, then Club Terraces could be the perfect escape as everything in its vicinity glows with the charisma and grace of nature. 

These apartments are designed for an exclusive few who cannot settle down for anything less than the BEST. And the best thing about the apartments is that it is as beautiful on the outside as it is on the inside. The stunning standalone tower sets the stage for an exquisite lifestyle while the vast spaces on the inside, make way for a comfort that’s lacking in our modern lifestyle. If you like to breathe in the freshness of nature and fancy the vastness of space, then good news is that the modern designed structure of Club Terraces gives your apartment 3 side openness.

We care for you and your guests. Hence the homes are designed in such a way that they give you an opportunity to take your hospitality to another level. How? Thanks to the guest lobby, a huge dedicated space for your guests on the ground floor, you will be able to host your dream parties and make your guests talk about them for days. 

But our luxurious offerings don’t end here. Adjacent to your homes are private mini terraces that overlook a beautifully 7 acres landscape and the Central Club. 48 acre Integrated Residential Development and about 35,000 sq ft ultra-modern central club house; this is what is called the mélange of both comfort and luxury. The moment you step in, we can assure that the place will begin to exert a weird fascination upon you.

Your abode will be your palace where you can feel like you are living in a wild eddy of your dreams. VRV air-conditioning with every apartment, large and spacious sunlit rooms and glass and SS railings, are a few features that will allow you to see your life glowing with the hues of the rising sun every morning and the setting sun every evening.

Located on the 60 mrt wide sector road, it’s close to Multi Utility Corridor near DLF Garden city and Commercial Business District of Gurgaon at sectors 74A/75A. Club Terraces are your answer to easy commuting because of the accessibility to Delhi via 60m/150m wide NH8 merging into Multi-utility corridor via Central Periphery road and easy access to NH-8 and Dwarka Expressway. It’s the perfect balance of city pulse meets scenic surrounding.

In a very short span of time SARE Homes, because of its quality, community-housing at strategically identified locations across India, time bound construction, timely delivery and transparent practices, has earned the trust and faith of its clients.  

SARE is in a high-growth mode and aims to double its area under development in the next three years. 

Welcome to the world of SARE Homes. This is where you leave the world behind.

Chennai property gains NRIs preference

Chennai, which is often termed as the cultural capital of India, gains NRIs preference over other metropolis. The city has been listed as the second most favoured property investment destination for NRIs by Associated Chamber of Commerce and Industry of India. According to the report industry goers feel Chennai offers a good investment platform for NRIs as the price movement here is constant when compared to cities like Bangalore and Hyderabad and hence realtors are expecting a 35% increase in the enquiries from NRIs.

A perfect 'Gateway to the South', Chennai offers its residents a rich culmination of history, arts, culture and architecture. Being home to India's longest natural urban beach - Marina Beach and Kapaleeshwarar temple that was built around the 7th century, the city has something inspirational for every soul.

It's a destination that provides fast bustling boulevards and slow lanes of Zen, side by side. Chennai has with time emerged as a peaceful city for people to attain a beautiful work-life balance.

SARE Homes has always found Chennai to be a lucrative destination for creating its planned townships. Our Chennai projects include Crescent ParC Dewy Terraces in OMR, MeadowVille in Singaperumal Koil along with 400+ Expandable Villas. SARE Homes’ townships in Chennai have access to a multitude of amenities like world-class club facility with features like fully equipped gymnasium, swimming pool, recreational room for indoor sports etc, and international standard shopping complex, school and hospital. 

Know more about these projects from here.

RBI Changes 80:20 Home Loan Norms

The Reserve Bank of India (RBI) has stopped banks from offering home loan products such as the 80:20 or 75:25 schemes that make upfront payment to builders for under construction projects. It has advised them to closely link stages of construction of a housing project with home loan disbursal.

RBI feels such loans pose to be risky to the buyer as well as the lending banks. Buyers run a risk of completion delays in the project once their money has been locked. And under the current financial crunch, banks stand a risk of their funds getting stuck due to delay in construction and the matters getting into a dispute zone where the funds eventually end up being locked for a significant amount of time.

While many developers have not taken this decision very positively and feel this will further aggravate the liquidity crunch and in turn affect the buyers, most lenders are feeling this brings down the risk element for them. Industry goers also feel that this move may lead to price correction in the market.

As a leading developer in the real estate space, SARE Homes understands the implications of this decision but completely respects the RBI guidelines. We have always strived to ensure that our investors and customers feel secured and well invested in us.

SARE Homes excels at Estate Avenues Awards 2013

SARE Homes has yet again proved its grit in the real estate sector at the recently concluded Estate Avenue's United Provinces Awards 2013.

SARE Homes won three awards at this prestigious event, namely ‘Best promising project of the year’ for Petioles, Gurgaon; ‘Integrated township developer of the year’ and ‘Emerging Developer of the Year’. On top of that, a special ‘Professional Leader in Real Estate sector’ was also awarded to Mr. Vineet Relia, Chief Operating Officer, SARE Homes for his contribution to the sector. The awards were organized by Estate Avenues, the leading real estate monthly published by SS Media House.

The proud winners were chosen, subsequent to an extensive and rigorous selection out of the real estate developers. The eminent jury for Estate Avenues Awards 2013 consisted of Carlos Jimenez Aguirre, Chief Economic & Commercial Counselor Spanish Embassy in India, Dr. Anil Kumar Sharma, President of CREDAI-NCR, Col. (Veteran) Prithvi Nath, VSM, Head North NAREDCO, Dr. P S Rana, Chairman Bostan TCS, Former Chairman and Managing Director (HUDCO), Mousumi Roy, Real Estate Head FICCI and many other distinguished luminairies. Winning these awards is an acknowledgment of SARE's performance in India and its zeal to deliver best-in-class service to its customers and mobilize resources to ensure on-time delivery of its projects.

Winning these awards is an acknowledgment of SARE's performance in India and its zeal to deliver best-in-class service to its customers and mobilize resources to ensure on-time delivery of its projects.

Estate Avenues' United Province Awards is an annual award which felicitates the contribution of Real estate companies. The Awardees were chosen after a rigorous selection of developers from Northern region. The event held at Eros Hilton Hotel on September 1, 2013 was attended by the stalwarts and gentries of the real estate sector.

A panel discussion, namely Manthan, was also organized which saw Mr. Vineet Relia sharing his thoughts, vision and ideas on topics such as illegal sand mining, concept of mixed use development and the role of private developers in providing low-cost housing to its fellow citizens.

Commenting on the occasion, David Walker, Executive Director, SARE Homes said, “It is indeed a joyous moment for us! We have always strived to provide the best value proposition and unique concepts through our products which have been appreciated by all our home owners.”

Vineet Relia, Chief Operating Officer, SARE Homes further said, “These awards give us immense confidence to develop housing units for people with taste and aspiration. Having executed projects across the country has helped us gain immense knowledge and expertise. We will continue to walk the path of offering a range of residential homes and providing a variety of lifestyle choices for our customers. We will always endeavor to live up to our loyal customer's expectations.”

The award function was preceded by United Provinces Real Estate Expo 2013 which focused on real estate developments in the United Provinces zone, a regional identity formed in 1902 British India by merging two major British India administrative units – Agra & Oudh. The United Provinces included Modern UP, Uttrakhand, Delhi, Haryana, and parts of Rajasthan & Madhya Pradesh. 

'Bhoomi Pujan' at SARE Homes' SpringView Heights Phase II in Ghaziabad

SARE Homes, a FDI real estate developer with seven integrated township projects in India, recently organised Bhoomi Pujan for its “SpringView Heights” Phase II in its elegant residential township called SARE Crescent ParC located on NH 24 in Ghaziabad. 

Spread over 88.35 acres, SARE Crescent ParC township is well connected to national highways, namely, NH24 and NH91 and is in close proximity to Rajnagar and Kavinagar providing easy access to malls / shops, hotels / restaurants, petrol pumps, schools / colleges and hospitals. Ghaziabad Railway Station and ISBT are also easily accessible. It is situated just off the busy highway and therefore avoids pollution related hazards.

The unique features of this project include – 6 towers with 7 clubs with each tower having its own club. The common club house and a central park are situated on a 10-ft high, beautifully landscaped elevated podium complete with a Sky Lounge Terrace and entertainment features.

The new inventory in SpringView Heights offers 2BHK and 3BHK apartments measuring between 926 - 1423 sq. ft. Built on Stilt + 14 with lift, SpringView Heights has spacious balconies, reserved car parking, ample power back-up, panoramic landscape, and an exclusive 25,000 sq. ft. mega clubhouse within the township.

Commenting on the occasion of Bhoomi Poojan, David Walker, Executive Director, SARE Homes, said, “The responses that we received for the first phase have been enormous and we thank all the customers for the confidence that they showed in SARE Homes. In line with our philosophy of offering quality community-housing at strategically identified locations across India, this development aims to extend the happiness we have provided to the buyers of SpingView Heights Phase 1 where over 150 families are living up to their satisfaction to many more aspiring Indians. Our latest offering is about providing spacious homes at an attractive price with on the spot home loan approvals from leading banks such as SBI, ICICI Bank, HDFC and Andhra Bank”.

While the pricing of these elegant apartments start from Rs 30 lacs, SARE Homes also allows the owners the option to pay only 10% initially and another 10% in next 90 days, following which they will only require to resume payment after 3 years. The scheme is different from the usual interest subvention where buyers do not tie up with financial institutions. With this kind of innovative flexible payment option, SARE Homes ensures that the dream of the customer to have his own house is fulfilled.

Reflecting this thought, Vineet Relia, Chief Operating Officer, SARE Homes, said, “SARE Homes has always been a customer-oriented developer. The approach which we follow speaks volumes about our commitment toward India's citizens and their values and sensibilities. Finally, the flexibility in payment mode that we have introduced, I am sure, the owners will find extremely convenient.”

'Bhoomi Pujan' at SARE Homes' SpringView Heights Phase II in Ghaziabad

SARE Homes, a FDI real estate developer with seven integrated township projects in India, recently organised Bhoomi Pujan for its “SpringView Heights” Phase II in its elegant residential township called SARE Crescent ParC located on NH 24 in Ghaziabad.

Spread over 88.35 acres, SARE Crescent ParC township is well connected to national highways, namely, NH24 and NH91 and is in close proximity to Rajnagar and Kavinagar providing easy access to malls / shops, hotels / restaurants, petrol pumps, schools / colleges and hospitals. Ghaziabad Railway Station and ISBT are also easily accessible. It is situated just off the busy highway and therefore avoids pollution related hazards.


The unique features of this project include – 6 towers with 7 clubs with each tower having its own club. The common club house and a central park are situated on a 10-ft high, beautifully landscaped elevated podium complete with a Sky Lounge Terrace and entertainment features.

The new inventory in SpringView Heights offers 2BHK and 3BHK apartments measuring between 926 - 1423 sq. ft. Built on Stilt + 14 with lift, SpringView Heights has spacious balconies, reserved car parking, ample power back-up, panoramic landscape, and an exclusive 25,000 sq. ft. mega clubhouse within the township.

Commenting on the occasion of Bhoomi Poojan, David Walker, Executive Director, SARE Homes, said, “The responses that we received for the first phase have been enormous and we thank all the customers for the confidence that they showed in SARE Homes. In line with our philosophy of offering quality community-housing at strategically identified locations across India, this development aims to extend the happiness we have provided to the buyers of SpingView Heights Phase 1 where over 150 families are living up to their satisfaction to many more aspiring Indians. Our latest offering is about providing spacious homes at an attractive price with on the spot home loan approvals from leading banks such as SBI, ICICI Bank, HDFC and Andhra Bank”.

While the pricing of these elegant apartments start from Rs 30 lacs, SARE Homes also allows the owners the option to pay only 10% initially and another 10% in next 90 days, following which they will only require to resume payment after 3 years. The scheme is different from the usual interest subvention where buyers do not tie up with financial institutions. With this kind of innovative flexible payment option, SARE Homes ensures that the dream of the customer to have his own house is fulfilled.

Reflecting this thought, Vineet Relia, Chief Operating Officer, SARE Homes, said, “SARE Homes has always been a customer-oriented developer. The approach which we follow speaks volumes about our commitment toward India's citizens and their values and sensibilities. Finally, the flexibility in payment mode that we have introduced, I am sure, the owners will find extremely convenient.”

Expandable Villas in OMR Chennai – Made for Growing Families

Investing in a home property requires careful thought and pre-planning. Your family may be small now, but you should expect it to grow. Smart people take this into consideration when they buy homes. With land prices and construction costs skyrocketing, buying a new home property every now and then is not a practical proposition. However, you can with a little forethought, plan for your family’s future needs for additional space by opting for a villa.

Villas have distinct advantages – you get freedom to add additional living space and make changes to your property. Yet another advantage for villa owners is that land prices shoot up rapidly, which means your villa’s market value too goes up. It also doubles as a security for your future and also fetches bigger rentals should you decide to lease it out. Villas are an irresistible option for home investors these days. More people prefer to move into villas for added comfort.

We, SARE Homes are one of the most trusted names in the housing construction industry and have a pan-India presence. Our current projects include 7 townships and 24,200 apartments, including Expandable Villas project located in OMR (Old Mahabalipuram Road), Chennai on a 112-acre piece of land that is close to the IT corridor of Chennai and one of the most preferred location to invest in a villa.

The Salient features of Expandable Villa include –

• You own the land and the property
• Building plan is approved even before you buy it
• It has additional space to expand
• Vaastu compliant layout
• Sunlight lit and well ventilated
• Sprawling kitchen with facilities for storage
• Balcony included for master bedroom

The other facilities at Expandable Villa project are – 2 swimming pools, a modern gymnasium, a spa and health club, a badminton court, a restaurant, an in-door games room, a tennis court, a squash court, and an half-basket ball court.

Expandable Villas project offers 2 villas types - Type A and Type B.

• Type-A features are – Space: 1297 – 1395 sq. ft. with usable area ranging from 120.4 to 129.5 sq. mtr. It is a 2 BHK villa. You also get the option to expand by including another room on the terrace of the villa.
  
  
• Type-B features are – Space: 1936 – 2079 sq. ft. with usable area ranging from 179.8 to 193.1 sq. mtr. It is a 3 BHK villa with a spacious master bedroom, and a kid’s and guest room in the ground floor. You also get the option to expand by including another room in the terrace.   

SARE Homes’ Ready-To-Move-In Apartments in Chennai Launched

SARE Homes has launched ready-to-move in apartments “Dewy Terraces” in its elegant residential township called SARE Crescent ParC located on the OMR road in Chennai.

Spread over 112.2 acres, SARE Crescent ParC township is strategically located between the East Coast Road and the Old Mahabalipuram Road, and is a 30-minute drive from Tidel Park. The upcoming Thiruporur bypass will touch the project, which is located near the famous Lord Murgun Temple. The proposed Chennai rail link which will connect Thiruporur Railway station to the city is at the doorstep of this township. Its close proximity to Siruseri - Asia's Largest IT Tech Park, gives it an edge over any other residential property in and around OMR, Chennai.

The new inventory in Dewy Terraces offers 2 and 3 bedroom apartments measuring  between 604 - 1472 sq. ft. Built on Stilt + 4 with Lift, Dewy Terraces has private balconies, reserved car parking, ample power back-up, panoramic landscaping, and an exclusive 20,000 sq. ft. mega clubhouse within the township.

This property has on the spot home loan approvals from leading banks such as SBI, ICICI, Axis & HDFC, so you can pick up your keys and move in.  These ready-to-move-in apartments have been crafted keeping in mind the aspirations of those who dream for good housing in a strategic location. Its close proximity to the Asia's Largest IT Tech Park – Siruseri will provide a wholesome ecosystem to the investors.

Dewy Terraces boasts of a bouquet of comforts of life through a world-class 20,000 sq. ft. mega clubhouse with a gymnasium, swimming pool, indoor games, reading room and family lounge. Located near a Proposed International High School and a Primary and Nursery School, SARE Crescent ParC is a secure-gated townshipwith 24-hour power back-up, treated water supply, and professional facility management services.

Know more about this property here.

Respite for the first timers

Are you looking to buy a house for the first time? Thanks to the Union Budget of 2013, you can heave a sigh of relief as new loans up to Rs.25 lakh will be eligible for an additional tax deduction of Rs.1 lakh for interest payments. This is their way of encouraging people to buy their first home ever. Good move, and definitely deserves a sigh of relief.

However, this is of course on for the financial year of 2013-14 as of now. So that means, a person taking a loan of up to Rs.25 lakh for his first home between April 1, 2013 and March 31, 2014, will be entitled to an additional deduction of interest of up to Rs.1 lakh. Apart from being beneficial to first time buyers, this move will also boost a number of industries like steel, cement, brick, wood and glass, besides giving jobs to thousands of construction workers. With this, the total deduction for interest payment for 2013-14 will be Rs.2.5 lakh. If the interest component is less than the deduction limit, the balance can be claimed in the next financial year.

With the advent of this benefit, taxpayers can continue to claim deductions up to Rs.1 lakh for repayment of home loan principal within the overall limit of Section 80C of the Income Tax Act. There are a few areas to look into though, as can be the case with any rule or law.

1. A deduction of up to Rs.1.5 lakh for interest payment (under Section 24B) is allowed if the house is ready and occupied by the taxpayer.

2. Any pre-construction interest is allowed to be deducted in five equal instalments within the Rs.1.5 lakh limit after the house is ready.

3. If the house has been let out, the taxpayer can claim the entire interest component as deduction from the rental income.

This move is definitely very encouraging for buyers on the lookout as well as opportunities in real estate, both of which will see a significant rise as per predictions of many.

Where there's a Bill, there's a way

The Real Estate Bill 2013 has been in the pipeline for quite a while and it's only recently that it was approved by the Union Cabinet and is now waiting to be passed by the Parliament. This Bill allows for the creation of a regulator in the real estate sector, for residential properties. Here's how it attempts to safeguard buyers' interests:

1. Property brokers must obtain a license.
2. Developers to submit authenticated copies of approvals and sanctions from the competent authorities while applying for registration.
3. No advertising, selling or money raising will be permitted before project approvals are in place.
4. If a developer flouts a provision of the Bill, he could be fined severely or jailed.
5. The provisions of this Bill will also apply to government agencies involved in housing projects.
6. Developers should maintain a separate bank account for each project in a scheduled bank to prevent diversion of funds from one project to another.
7. Compulsory registration of all real estate projects of more than 4000 sq.mts.

One of the best parts of all the documentation this Bill demands is that brokers, especially those who only deal in cash, will have to redo their methods, so to speak. The buyer's cost will be affected just by this.

With the good comes the bad. Here are some shortcomings of this Bill:

1. The Bill will be applicable only to new real estate projects. Those projects that have already been launched and sold will not come under its purview
2. While there are penalties for failing to deliver on time, there is no clarity on what happens if the delay is due to the failure of government agencies to give timely approvals.
3. Since Registration is required only for projects over 4000 sq. mts smaller developers will evade the Bill's scrutiny.
4. A developer will now launch a project only after he has received all the approvals, which is a timetaking process.

There are several complaints that developers will have but it benefits a real estate buyer and is quite the sigh of relief. But the sighs will have to wait as for it to be passed by the Parliament and adopted by all the States, there may still be time. Lots of time.