Mistakes to Avoid When Applying for a Home Loan
CategoriesBlog Home Loan Guide

Mistakes to Avoid When Applying for a Home Loan

A home loan is the only means of buying a home for most. The application for the home loan is thus a crucial part of the process since the application forms the basis for the home loan approval. The borrower must have the best application to secure the loan to fulfill his dream.

Let us consult our home loan guide to avoid the common mistakes in the home loan application below.

1. Checking Credit Score

We are all aware that most agencies offering loans use the CIBIL score . The CIBIL score is a credit score that provides information about the buyer’s history of repaying loans. To get a home loan in Kerala buyers must have a good credit score. A borrower must always check their credibility via the CIBIL score before applying for a home loan. If the score is below the acceptable norms, then it can be improved before applying for the loan.

2. Research

The real estate industry is in a boom like never before. Every major bank and financial institution wants a bigger piece of the home loan pie as loans are the only means for owning a property for most Indians. As a result these players are trying to offer the best rates to attract the most number of loan seekers. By researching thoroughly home buyers can choose a bank loan that offers the best interest rates and repayment conditions. Skipping this step can cost the borrower dearly.

3. Documentation and Procedure

The fine print has all the information about the home loan and knowing these are crucial for the borrower. The borrower must understand these thoroughly and consult an expert before signing the papers. The terms should match the borrower’s ability to repay and should be no ambiguity. Many agents may try to manipulate the borrower which is a dangerous trap. The borrower should be vigilant and not blindly believe what the agent or the bank says.

4. Personal Financial Planning

Home loan repayments are made in EMIs (Equated Monthly Instalments). The borrower should allocate funds for the down payment and EMI payouts. After factoring in the monthly expenses and other commitments, borrower should decide on the quantum of the EMI payout that they can make. The home loan, interest rate and down payment can be determined based on all of the above calculations. This step is as important as any if the buyer wants to repay the loan amount on time without incurring penalties.

5. Down Payment

The down payment is a mandatory payout to be made before the loan is sanctioned as no financial institution finances 100% of the home price. The borrower should have this amount ready before applying for the loan.

Consulting a home loan guide or legal experts before making the decision to buy a home is always prudent. It is better to be safe than sorry.

How NRIs Can Benefit From Investing In Luxury Apartments In Kochi
CategoriesBlog Real Estate Investment

How NRIs Can Benefit From Investing in Luxury Apartments in Kochi?

The growth of luxury real estate in Kochi is one of the highest in the country. NRIs from Kerala can make the most of this golden opportunity by investing in luxury apartments in Kochi. Luxury projects are in demand as the new-age home buyer is well exposed to international standards and wants to live the same lifestyle. They have the financial power and aspirations to drive the luxury residential market making it one of the fastest-growing segments within the real estate market.

NRIs have the financial power for real estate investment in Kochi which can benefit them in the long run with excellent returns.

Let us look at the reasons for these:

1. High Demand

Kochi has several IT parks, educational institutes, and Multinational corporations that have a large and diverse population of students and professionals. Rising incomes and high standards of living have increased the demand for luxury properties. NRIs investing in premium and luxury apartments in Kochi can expect excellent rental returns to grow every year. Fully furnished properties with premium amenities are in demand and command high rentals for projects in Kerala.

2. Capital Appreciation

The growing economy, rapid urbanization, and infrastructural development have boosted the demand for luxury real estate in the city. This demand has been growing for past few years and is expected to grow in the coming years. NRIs investing in Kochi can expect healthy capital appreciation on their investments. Prime locations like Marine Drive, Edappally, and Vytilla have shown good growth in the past years and are expected to continue the growth.

3. Luxurious Lifestyle

Luxury apartments in Kochi are designed to meet global standards. Builders in Kochi are building projects whose construction, architecture, and interior designs are opulent. The amenities include star privileges like rooftop swimming pools, state-of-the-art gymnasiums, barbecue areas, decks, and sports amenities, and a sizeable green cover that the modern global resident seeks. These make the properties highly desirable by HNI individuals. Vacation homes, villas, bungalows, and duplex apartments that were earlier present only in large cities like Mumbai and Delhi are now commonly seen in Kochi. These are well suited for NRI standards that can fetch excellent returns.

4. Strategic Location

Kochi is a coastal city strategically located for the best connectivity for international trade and commerce. It is well connected by air, rail and waterways to global destinations fueling the growth of sectors like travel and tourism. The city is a major destination for national and international tourists who attracting millions every year. The demand for hospitality real estate is also on the rise. Investing in these properties is a lucrative opportunity for NRI investors.

Kochi growth story cannot be ignored. The city is backed by government efforts to make it a major international hub in South India. The Kochi Mangalore Bangalore industrial corridor will further boost commercial and industrial development adding to the economic growth of the city. All these reasons make Kochi an attractive destination for NRI real estate.

Nettoor in Kochi Why It's Emerging As The Next Residential Hub
CategoriesBlog Location of The Month

Nettoor in Kochi: Why It’s Emerging As The Next Residential Hub?

Kochi is touted as the next big residential hub of the country. The economic development is fueling the infrastructure growth which is the cause for the development of new real estate micro-markets in and around the city. These are in demand due to the growing demand for housing by the rapid urbanization and the demand for skilled professionals by the industries emerging in the city. Nettoor is one such micro-market that has come under the radar.

This scenic region is 5 km from Vytilla Junction. The development of flyovers in the region has eased the traffic making Nettoor easily accessible to the main city of Kochi. As the city gets more congested, regions like Nettoor will offer the much-needed respite easing the congestion and saturation.

Infrastructure

The inauguration of flyovers at Vytilla and Kundanoor have eased traffic snarls reducing travel time on the NH 66. As a result, people living in these regions can reach their destinations faster. Vytilla is the busiest region near Kochi, where around 13000 vehicles cross every hour. Earlier the traffic snarls would increase travel time to several hours due to these congestions. With the completion of the Vytilla Kundanoor flyover, traffic congestion has reduced travel time considerably. These reasons have improved Nettoor’s potential to be the next residential hub in Kochi. Several people are now interested in investing in property in these locations as reaching important hubs in the city is not as time-consuming. This is expected to boost the residential real estate in Nettoor.

Connectivity

The region has good connectivity to important hubs in Kochi, with major bus stops, railway stations, and metro stations. These include Thykoodam Bus Stop, Alliance Junction Bus Stop, Tirunettur Railway Station, Kumbalam Railway Station, Pettah Metro Station, and Thykoodam Metro Station connect Nettoor to the rest of the city.

Social Infrastructure

Nettoor Primary Health Center, P.S. Mission Hospital, Lakeshore Hospital, Goverment Ayurveda Hospital are the popular medical centers nearby that ensure that residents do not have to travel long distances for medical attention.

Reputed educational institutes like Gregorian Public School, Sacred Heart CMI Public School and SH College offer high-quality education near Nettoor. As it developes, the number of educational institutions offering quality education is bound to increase. Residents living here can easily access the best education for their wards.

Recreation

Shopping complexes, malls, and restaurants are a necessity for the young working population. Nettor Residents also enjoy access to leading shopping and recreational hubs such as Thevara market, Fish, Fish And Meat, Nucleus Mall Multiplex, Forum Mall and RR cinemas.

The factors discussed above make Nettoor an emerging residential hub for buying apartment in Kochi. The property prices are comparatively lower and the construction of projects is still at a nascent stage. However, investors who invest in Nettoor real estate can expect healthy returns in the future.

Understanding Stamp Duty and Registration Fees in Kerala
CategoriesBlog Home Buying Guide

Understanding Stamp Duty and Registration Fees in Kerala

The real estate market in Kerala is booming evident from the registration data with the Kerala Real Estate Regulatory Authority. As per the RERA, there is a remarkable year-on-year increase in the number of property registrations in Kerala. This can be attributed to the demand for residential properties in urban areas like Kochi and Trivandrum, investments by NRIs, and plot registrations as large land parcels are divided into smaller plots. Under these circumstances understanding stamp duty and registration fees in Kerala becomes necessary for home buyers and investors.

Stamp Duty

When you buy property in Kerala, it is mandatory by law to register the property in the owner’s name and record it with the government. Without this, the transaction will not be considered and recognized as a legal transaction. Home buyers in Kerala must pay a percentage of the property value as stamp duty during this process. Stamp duty is the state-imposed tax levied on the purchase or transfer of immovable property. For example- for flats in Kochi, like in other parts of Kerala, the rate of stamp duty as determined by the government is 8%. This charge is payable on the sale deed or transfer document for all the flats for sale in Kochi.

Registration Charges

Registration charges are the fees paid to the government to officially record the property transaction. They are separate from the stamp duty charges and cover the administration costs associated with the process of registration. While most states in India charge 1% of the deal value as a registration charge, Kerala charges 2% on the transactions for apartments in Kochi.

Exemptions and Concessions

Certain categories of property transactions are eligible for exemptions and concessions on stamp duty and registration charges. First-time homebuyers, women, and economically weaker sections may be exempt from taxes. This initiative is to encourage home ownership and make it accessible to certain sections of the society.

Property Registration Process

The property registration process can be completed offline by visiting the Sub-Registrar’s office. The required forms need to be filled and the stamp duty and registration charges can be paid. For online registration and payment, the Kerala government has permitted the usage of e-stamps where the stamp duty charges exceed Rs 1 Lakh. These e-stamps can be purchased from the official portal of the State’s Registration department. All the details for the process can be found on the link – http://www.keralaregistration.gov.in

Important documents required during the registration process are listed below :

1. Original Title Deeds
2. Encumbrance Certificate
3. Identity Proofs – Aadhar Card or PAN card of the buyer and seller
4. Property Tax receipts
5. ROR
6. Location Sketch
7. NOCs – No Objection Certificates from relevant authorities

Legal Aspects of Buying Property in Kerala
CategoriesBlog Home Buying Guide

Legal Aspects of Buying Property in Kerala

Kerala has a burgeoning real estate market. The infrastructure growth, rapid urbanization, and growing urban economic centers have given a fillip to the development of the real estate sector in the state. The number of transactions is increasing every year. With property values soaring and home buyers and investors investing in real estate like never before, the legalities involved in the transactions become crucial. The involved parties, the buyer and seller need to be aware of all the legal aspects involved in the property buying process. In this blog, we will understand the legal aspects involved in buying property in Kerala.

1. Title Verification

The first step is to check if the property is in the seller’s name. Two documents that ensure that the title of the property is clear and that there is no ambiguity are:

A. Title Deed (Sale deed/Settlement Deed/ Gift Deed/ Will): The seller should have a clear and marketable title deed as this establishes the ownership of the property in their name.

B. Possession Certificate

Confirms legal ownership of a property.

C.Property Tax Receipt/ Land Tax Receipt

These receipts  should be in the name of the property owner which ensures the mutation  and the  property ownership.

D. Encumbrance Certificate: The encumbrance certificate proves there are no pending legal or financial liabilities with the said property. The encumbrance certificate for the last 15 to 30 years should be clear of any liabilities.

2. Property Documents

Important documents that the builder must possess are:

A. Prior documents

The sales deed is the primary legal document that confirms that the said property was transferred from the earliest seller to the current seller. The document’s authenticity should be validated.

3. Approvals

A. Plan Approvals

The local municipality or Panchayat should have approved the structure plans of the property or the project.

B. Zone Clearance

Builders in Kerala should have zoning clearance from all regulations, like agricultural, forest, residential, commercial, and coastal regulation authorities for their projects for sale.

C. Environment Clearance

Large-scale developments and residential projects should have mandatory environmental clearance.

D. Occupancy Certificate (OC)

Occupancy certificate is issued when a property is ready to be occupied. This is a very important document, and the prospective buyers of an upcoming apartment should necessarily ask for this. OC certifies that the construction of the property is done according to the approved plan and in adherence with existing building norms and regulations.

4. Registration process

A. Stamp Duty and Registration Charges

In Kerala, the stamp duty is 8% of the property value and the registration charges are 2%. These charges need to be paid during the property registration process when the transfer of the title goes from the seller to the buyer. The property registration takes place at the local sub-registrar office, where the legal procedure of the ownership transfer takes place.

A home buyer should consult a legal expert who specializes in real estate especially when they are buying property for the first time. The legal expert can verify the authenticity of all the documents, cross-check if the fine print in the agreements meets the rules and regulations, and guide the home buyer in the complete buying process. This way the home buyer can complete the process without any doubts and ambiguities.

The Ultimate Guide to Living in Kochi
CategoriesBlog Home Buying Guide

The Ultimate Guide to Living in Kochi

The ‘Queen of Arabian Sea – Kochi is a major city in God’s own country, Kerala.  These acronyms say a lot about the state and the city and rightly so. The unique experiences in store are a magnet for tourists from all over the world. Living in Kochi can be a rich experience for people moving in apartments in Kochi. With the growth in the economy, infrastructure, and housing options moving to the city can be one of the best decisions ever made.

This blog delves deep into the many aspects of living in Kochi:

1. Climate

Kochi has sultry tropical weather with temperatures ranging from 20°C to 35°C throughout the year. The weather hot and humid during the summer from March to May. The monsoon is pleasant while the weather is cooler during winter ( December to February).

2. Cultural diversity

The port of Kochi was known for the major trade carried out with traders from France, Britain, and Portugal. One can witness the influences of these cultures even today. The ancient buildings in Fort Kochi depict European architecture and their influence on the culture in these regions. Today, the city is cosmopolitan with people from across the country living in the flats for sale in Kochi. The influences can be seen in the food, music, arts, and culture.

3. Food

Kochi has a strong food culture with a wide variety of regional and exotic dishes to savour. Being a coastal city, Kochi is known for its seafood delicacies made from fresh catches from the Arabian Sea. Popular local dishes include puttu and kadala curry which is a breakfast dish made from rice flour and chickpeas, thoran a vegetable dish, and spicy beef chilly fry which the city is very famous for.

4. Language

Malayalam is the official language in Kochi widely spoken by the locals in usual conversation. Tamil, English and Hindi are also known by many people living here due to the cosmopolitan population. Language is not a barrier as people are acquainted with English and Hindi.

5. Lifestyle and Leisure

The picturesque beaches, captivating backwaters, and dense natural beauty are exclusive to Kochi. There is no dearth of cultural attractions in the city with musical festivals like Cochin Carnival and Kochi-Muziris Biennale, which celebrates contemporary art, music, and dance. The Kerala Folklore Theater and Museum is a must-visit for those interested in traditional performing arts to immerse in the region’s rich cultural heritage. The many multiplexes and theatres showcase the latest Bollywood and Hollywood films for those interested.

Living in Kochi is an ideal option to settle down as it has the perfect combination of cultural heritage and modern lifestyle. It also boasts of the best educational institutions, healthcare facilities, and essential services giving the residents of 3 BHK flats in Kochi a well-rounded and convenient lifestyle.

Move-In Ready Discover Ready to Occupy Flats in Kochi
CategoriesBlog Home Buying Guide

Move-In Ready: Discover Ready To Occupy Flats in Kochi

Abad Builders is a leading developer in Kochi who constantly innovates to meet the needs of the discerning home buyer. With a focus on convenience, stability, and modernity, Abad builders has delivered innovative residential projects in Kochi that have made a mark in the real estate landscape of Kerala. They are known for their modern design concepts and contemporary architecture visible in their ready to occupy flats in Kochi.

This blog discusses their current flats for sale in Kochi and how they have carved a niche in the home buyer’s minds.

1. ABAD Inspirations

ABAD Builders’ high-rise air-conditioned luxury apartments overlook the lush surroundings of Kochi. This spectacular edifice provides you with a lifestyle like no other. The stunning development is 12 floors high at the premium location of Kaloor. A world-class rooftop swimming pool with a spectacularly landscaped garden makes it the next level of luxurious living. The two units of spacious 4-room apartments on a floor, well-equipped with all the amenities and features provide you with a new and more comfortable lifestyle.

2. ABAD Reflections

An exclusive apartment project from ABAD Builders offering 20 swanky and spacious apartments in Kadavanthra with 2 units on each floor caters to a privileged and enviable few that desire the best quality, ambiance, and luxury.

These super luxury apartments in Kochi are located at the cusp of Kadavanthra & Thevara. The limited edition extra large 3, 4, and 5-bedroom flats in Kadavanthra offer scenic backwater views.

3. ABAD Oasis

Nestled in one of Kochi’s fastest developing regions, Edappally, ABAD Oasis promises to provide residents with a tranquil and peaceful haven from the hustle and bustle of the city. ABAD Oasis flats in Edappally is Set on 81.61 cents of land & offers 95 units of 2,3 and 4 BHK ready to occupy flats in Kochi spread over G+18 floors, that beautifully blend style, luxury, and substance. Inspired by the principles of fine living and planned by Kerala’s first CRISIL-rated builders – ABAD, the best builders in Kochi this apartment complex elevates urban living to a new level. Each apartment unit has been carefully planned so that only one wall is shared between apartment units. Such ingenuity in our designs enhances the natural ventilation and light in each unit.

4. ABAD Golden Oak

Golden Oak, a Premium Lifestyle Apartment strategically located in Maradu, presents an ideal home for those seeking to move to Kochi’s fastest urbanizing residential areas. This Luxury Lifestyle apartment in Kochi, offers 14 floors of premium 2 BHK, 3 BHK, and 4 BHK ready to occupy flats in Kochi, each with sophisticated living space and lavish modern lifestyle facilities. Indeed, one of the highlights of Golden Oak can be found in its exclusive Club House located in a separate stand-alone house outside the apartment complex.

All these are ready-to-occupy apartments with some of the best 3 BHK flats in Kochi.

Investing in Kochi Exploring Flats for Sale in the City
CategoriesBlog Real Estate Trends

Investing in Kochi: Exploring Flats For Sale in the City

Kochi is an ideal city for real estate investment today. Backed by economic growth, an expanding IT sector, an expanding port, and a magnet for tourism, the real estate sector is experiencing unprecedented growth. It is the right time to investing in Kochi flats to make the most of the rapid urbanization and demand for housing by the working population. The rental returns and property appreciation trends in Kochi are very encouraging as many professionals are settling in Kochi. Investors who choose their investments wisely stand to reap excellent benefits in the future.

In this blog, we will explore the various options available in the residential real estate market.

Investment Options

Investors today have many options to invest in the residential real estate market. Flats in Kochi range from the budget segment to the luxury and ultra-luxury categories. The property types can range from apartments, penthouses, villas, bungalows, etc. Depending on their investment strategy and budget investors can choose the property type, area, configuration, and location.

Luxury Apartments

The growing economy and positive sentiment have boosted the earning potential of many young professionals. Kochi is known for its entrepreneurial spirit with many professionals and entrepreneurs building new successful businesses. The affluent youth seek luxury and ultra-luxury apartments and properties with high-end facilities and amenities. Investing in these luxury apartments for sale in Kochi is expected to earn high returns due to price appreciation.

Locations

1. Premium locations in Kochi like Marine Drive, Kadavanthara, and Panampilly Nagar offer many residential options like upscale, high-rise waterfront properties, opulent villas, and community residential complexes. These locations have excellent connectivity to major hubs and IT parks. Many corporates and executives prefer these locations due to the upmarket status and access to the best facilities and amenities.

2. Kakkanad, Palarivottam, Vytilla, and Edapally are locations with mid-segment to luxury apartments. These locations have a good mix of residential and commercial properties with good social infrastructure. A good public transport network with upcoming metro networks makes these locations well-connected to the city.

3. Aluva, Thrikkara and Vazhakkala are locations with budget apartments ideal for investments as these locations have good potential for growth. The price appreciation in these locations is expected to be high in the future. These Kochi flats for sale have a good mix of social facilities and employment zones ideally suited for working professionals.

Kochi is well known for its rich cultural heritage, scenic nature, and urban environment. This is ideal for young people to live and thrive. Hence investing in residential property in Kochi is a smart move.

How To Select the Best Real Estate Builder in Ernakulam
CategoriesBlog Kerala Real Estate

How To Select the Best Real Estate Builder in Ernakulam

The demand for real estate is at its peak. In Ernakulam, the demand is boosted by the growing economy, infrastructure, and rapid urbanization. In such a scenario, real estate builder in Ernakulam want to make the most of this golden opportunity. But what distinguishes a reputed builder from an ordinary one? How can one be assured that their lifetime savings are not being misused or that they will get their dream home delivered in time?

The introduction of RERA has instilled confidence in the real estate sector and streamlined property purchases. Yet, the developer’s reputation cannot be taken for granted. There is a lot at stake for most home buyers, especially first-time homebuyers who have their hopes and dreams tied to their homes. Property buyers and investors must leave no stone unturned while selecting the developer of their dream home.

This blog discusses some important pointers one must remember while considering builders and developers in Ernakulam.

1. Online Reputation

We live in the digital age where information is available on our palms within seconds. This is a privilege that we can exploit to get any information, even the reputation of developers. Past, present, and upcoming project details, reviews, and opinions of the flats for sale in Ernakulam are easily available online. Although one cannot trust them completely, getting a fair idea from them is possible.

2. Track Record

One of the best ways to understand a developer’s track record is to talk to their previous customers. Word-of-mouth feedback is the most reliable as it comes straight from the horse’s mouth. If construction quality and delivery time are the main concerns, one must rethink the decision of selecting the builder in Ernakulam. These are serious issues which cannot be ignored. Depending on their seriousness minor delays, repairs, and glitches may be overlooked. Another parameter one can consider is the builder’s response to complaints and concerns and the speed with which they are resolved. This reveals the builder’s attitude towards their customers and a builder who takes the customers for granted cannot be trusted.

3. Transparency

Transparency is the single most important factor that will determine the trustworthiness of a builder. This is especially true in property dealings as the quantum of money involved is high and the smallest doubt can have long-term repercussions. The information shared by the builder about the project in their communications should match the reality. Any deviation will raise doubts about the builder’s intentions. The details should be verifiable on RERA and all the due diligence regarding the titles and land should be clear. These are important factors that should be considered before deciding to invest in the project.

Reputed and branded builder in Ernakulam may instill a sense of confidence, yet the above-discussed aspects should always be clarified to be on the safer side. Ultimately, this is one of the most important decisions in most people’s lives.

Exploring Abad Builders' Residential Projects in Kochi A Guide
CategoriesBlog Kerala Real Estate

Exploring Abad Builders Residential Projects in Kochi

Abad Builders is a leading developer of residential and commercial properties in Kerala. They are known for their modern design concepts and contemporary architecture. Abad builders is constantly innovating to deliver flats in Kochi that meet the growing aspirations of homebuyers. The projects emphasize convenience, stability, and modernity.

The top three residential projects by Abad Builders in Kochi are discussed below:

1. ABAD Woods Park

Abad Woods Park is one of the bespoke, 2, and 3 BHK premium flats in Vytilla, Kochi today. The project is in Maradu near Vytilla, which is known to be the home of some of the finest residential hotspots in the city.

This plush project has 63 apartments covering 2811.00 sq.m. The pristine 2 BHK and 3 BHK apartments are incorporated with the best living amenities that modern professionals seek. Abad Woods Park is amid an eco-friendly atmosphere of well-maintained gardens, and easy accessibility to transport modes, shopping malls, healthcare, and various educational institutions.

2. ABAD Sunrise Park

Glazed in serenity and style, the tower of Abad Sunrise Park stands tall as an exclusive enclave of homes spread across 12 floors. This edifice is bound to delight its owners with its richness and unique architectural design. The 45 comfortably large 3 and 4-BHK homes with best-in-class common amenities and upgraded specifications are examples of comfort.

Peaceful walking paths and meditation gardens provide solitude to stressed minds. Ample spaces on the ground, first floor, and rooftop offer many leisure and recreational facilities allowing customers to entertain their guests and visitors.

With a sky bridge connecting two wings, the terrace offers enchanting features with many soothing amenities for elders, youngsters, and children to unwind and celebrate in the living spaces.

3. ABAD Signature

ABAD Signature has been designed to meet the needs for a comfortable downtime and respect for privacy. This landmark project, strategically located in Kochi’s fastest-growing area, overlooks the serene backwaters and is just a stone’s throw from the NH Bypass.

Offering 4-bedroom homes with efficient space utilization, this exclusive 31-apartment high-rise stands tall for its attention to detail and bespoke luxury. The exclusive layout, with only two units per floor, also offers wide balconies with spectacular views of the backwaters, making for the perfect setting for relaxation and rejuvenation.

Attention to detail is what separates Signature from the rest. Right from the main gate and the driveway leading to the porch and car park, through the double-height elegantly furnished entrance lobbies, to the plush lifts ABAD Signature stands out. The apartment floors, the party hall, the health club, and the swimming pool on the rooftop, are all carefully crafted to delight the residents every day. Everything is designed so that you can enjoy life fully with family and friends and celebrate life every day. Signature is the perfect oasis of comfort and grandeur you could wish for, in a home.

Abad Builders is leading real estate builders in Kochi who have delivered over 44 projects across Kerala to 3000 odd families.

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