'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.

Home is where the loan is

The real estate industry today has seen a huge change as far as the attitude of the buyer is concerned. Today's buyers are more informed and aware and carefully retain other's experiences in their mind so as to extract a lesson from it later. But, even so, the irony is that too many smart people are buying homes and still having problems. Sometimes, it's the quantum of readable material available that is confusing in itself. Want an upper hand when applying for a home loan? Believe it or not, just revisit your basics. 

1. Impact of loan on your personal finance: With the new cash out flows there's bound to be a dent, so you'll need a brand new monthly budget in place. 

2. Know your maximum loan eligibility: Some banks calculate the income available for EMI payments based on an individual’s gross income and not on his disposable income. Do your research here. 

3. Check your CIBIL score: A score above 700 gets home loans easily. The Credit Information Bureau India Ltd (CIBIL) provides a credit score on a scale of 300 to 900 based on your current financial stability, loans existing, card usage, etc. 

4. Co-application: If you want a loan amount higher than what's offered, having a co-applicant with his/her own source of income helps and also make sense from a taxation perspective with each applicant being able to avail the tax benefit available on interest payment of an EMI. 

5. Tenure: Shorter tenures mean greater EMI burden, but your loan is repaid faster. What you would pay as interest over the term of your loan would be substantially lower. 

6. Type of interest rate: The type of interest rate you choose has an impact on the monthly EMIs you pay. It is important that you know the difference between fixed rate home loan and floating rate home loan. 

7. Pre-payment and foreclosure charges: Sometimes, pre-payment of loans may require you to pay a penalty. Do your research well so that there's flexibility if you can close your loan earlier. 

8. Loan Options: Banks generally offer either of the following loan options: Floating Rate Home Loans and Fixed Rate Home Loans. The EMI of a floating rate loan changes with changes in market interest rates. 

9. Take cover: A life insurance plan that covers the re-payment of loan in the event of an unfortunate death of the borrower can at least help the family retain their home. 

10. Loan transfers: Old customers have higher rates of interest while the new ones have lower rates. So, over time the good deal turns into a sour deal. So the cost of switching is always high. 

11. Implications of delayed payments: Try to clear your EMIs in time because once you are declared a defaulter or your credit history turns bad, and taking any kind of loan in the future may be an issue. 

12. Read the documents carefully before you sign: Check the documents to ensure that the terms are same as what you negotiated and agreed upon. Don’t let the bunch of home loan documents bog you down and just sign on the dotted lines. 

Buying a home is an important personal finance decision for every individual. Before applying for a home loan and paying your processing fee, make sure you analyze the above aspects to get a satisfying and smooth deal