WHY EMI FOR LOANS?

Have you opted for a home loan and  EMI scheme recently?

Buying a home is lifetime event for most of people, and bank loan is the only possible way for the required finance. Most of the potential buyers not being able to gather the amount required in cash for the property purchase. And, in a situation like this, we would but obviously opt for a bank finance a.k.a loan. Loans have been playing a significant role in each of our lives, and a great help achieving our material goals without a single doubt. Buying a new car, expenditure on education of our children, going for a leisure holiday to foreign destinations, easy loan options have made them easier for us in the present day-and-age without much difficulties. In fact, getting a financial support is like a phone call away!

In this blog we will be discussing about the important fundamentals of Equated Monthly Installments i.e. EMI for any type of Loan. So, lets get started.

What is EMI and how does it help you with the loan repayment?

When you discuss about loans, you often associate it with EMI, which is the fixed monthly payments that you make to the lender of the loan that you have opted from. EMI is a compilation of the amount, that is to be paid towards both, the principal and the interest applied to the loan amount. However, the EMI mainly comprises of the interest component, which forms the major portion of the EMI payment during the initial stages. In due course of time, as we proceed towards the loan tenure, the majority portion of the loan amount shifts from the interest repayment to the principal repayment.

We shall discuss about the Loan Payment Schedule in our upcoming blog. Meanwhile, please let us know in case if you have any questions regarding the EMI payment or further details. We will be more than glad to assist you with the required information. Till then, be safe in all your financial transactions, and always make it a best practice to save for the rainy days.

Read More:-

1) WHAT IS LEASEHOLD PROPERTY?

2) FORMS OF OWNERSHIP OF A PROPERTY

3) KNOW THE FACTS BEFORE BUYING A PROPERTY IN PUNE

WHAT IS LEASEHOLD PROPERTY?

Are you in search of a property that you can take on lease? Are you having queries regarding buying a leasehold property? As discussed in our previous blog, let us help you find the answers to your questions, you have been looking for. The following section can help you with more clarity on leasehold property.

What is a leasehold property?

The meaning of Leasehold property is that, if you have taken a property on lease from the freeholder, or the owner of the property for a specific duration. The leases are usually for a long term however, they are customizable depending on the freeholder.

• There is a contract or an agreement that is made between the leaseholder and the freeholder, which defines the legal rights, and the responsibilities of both parties, i.e. leaseholder and freeholder. 
• Maintenance of common areas of the property is usually the responsibility of the freeholder. This would include, maintenance of the entrance and staircase, terrace and walls. Still, if the leaseholder claims the rights to manage the property, then in that case, it becomes the responsibility of the leaseholder to take care of the common areas of the property.
• Maintenance fee, annual service charges, and insurance of the property to be paid by the leaseholder only.
• The leaseholder is liable to pay the annual ground rent to the freeholder.
• The freeholder has the authority to grant permission for any major work that are requested by the leaseholder. 
• The freeholder can set restrictions for the leaseholder as per their requirements, e.g. no permission for keeping pets.
• In case, the leaseholders do not abide by the rules and responsibilities assigned by the freeholder regarding the property, e.g. not paying the rent or the maintenance charges, the leaseholder may have to face the loss. 

Now that you have more clarity on what leasehold property stands for, you may go ahead and buy your dream home with much confidence and general awareness. Hope this was pretty helpful for you. Stay connected and be safe.

Read More :-

1)  FORMS OF OWNERSHIP OF A PROPERTY

2)  KNOW THE FACTS BEFORE BUYING A PROPERTY IN PUNE

FORMS OF OWNERSHIP OF A PROPERTY

Kumar Properties - Pune

Are you having plans to make a property purchase? What kind of a property type are you in search of?

Having questions regarding what are  freehold properties? Let us help you find the answers to your queries, and know what are the forms of ownership of a property!

Legally, there are two forms of ownership. Those are freehold and leasehold. Although, there are different perception about spending on a home, that would be worth buying, and the ones that are not. People who are unaware of these facts, eventually make blunders while buying a property.

What is a freehold property?

Having a freehold property means, that you are the owner of the building, and the land on which it is standing. The land is registered by your name as “freeholder”. Having a freehold property is the most preferred option, where the chances of committing mistakes are very less.

• You will not be paying yearly rent
• You are not answerable to anyone for maintenance of the building and, you don’t have to pay to anyone extra amount
• You are responsible for the roof maintenance or wall paints as needed
• Complete houses are often sold out as freehold properties

With a clear information on what freehold property refers to, you may now have a well thought approach for making a new property purchase. What else could have been more better, than to have a home under your authority! You don’t have to worry about making payments for maintenance, and service charges laid by somebody else in a property that is given on lease to you, over the freehold property? For people, who are in search of properties just for investing or buying a new home, can refer to the various projects of the builders, and developers in Pune.

We shall answer some of the other questions regarding the forms of ownership in our upcoming blog. Till then, stay connected.

Read More:-

1) KNOW THE FACTS BEFORE BUYING A PROPERTY IN PUNE

2) WHAT ARE THE ASPECTS TO CONSIDER BEFORE BUYING A PROPERTY?

KNOW THE FACTS BEFORE BUYING A PROPERTY IN PUNE

Do you want to know the easy steps while buy a property? Well, you must have found the title of this blog quite direct, isn’t so? However, let us begin with, why there is a need to have a proper procedure before buying your dream home.

Kumar Properties - Pune

Why do we need to be choosy, and aware at the same time while we think of buying a property? Here is an answer to your question! Investing on a property is something, that most of us decide only once in our lifetime or say, we spend our hard earned money to have a place to live in, and that we call our “HOME”.

Pune, a cultural capital of Maharashtra, and main hub for the maratha empire. This rapidly growing city is known for automobile, research institute, IT, education and management studies, that attracts many from around the world. Be it professionals, students or migrants, Pune has welcomed them all.

It is important to know that buying a piece in real estate, is a lifelong commitment wherein, one has to pay the EMIs for several years without discontinuation. Hence, doing homework is equally important, which will help to have a well thought approach towards the same.

These are the most significant points before buying a property, and make sure they are correct just to avoid any future hazards:

1. Land titles/construction permits/approvals from the authorities
2. Title clearance certificate
3. Society clearance and membership
4. Details of payment of property tax, and other charges, bills, etc.
5. Sale agreement
6. Stamp duty  and registration
7. Taking possession of the flat

Hope this was helpful for you. We’ll talk about the same in more details in our upcoming blogs. Stay connected and be safe!

Read More About :-

1) Kumar Pinakin, stylish 2 & 3 BHK Luxurious Apartments in Baner, Pune

2) Pricetown Royale project in Bengaluru enriches lives in every aspect

Kumar Pinakin, stylish 2 & 3 BHK Luxurious Apartments in Baner, Pune

Kumar Pinakin - Kumar Properties

Kumar Properties is a renowned brand and one of the major players in Pune Real Estate sector with annual sales of more than one million sq.ft., the group was founded by Mr. K.H. Oswal on August 15, 1966 and earned the pioneer status for IT Parks, Commercial Buildings, Malls and Mega Townships in Pune, Mumbai and Bangalore regions. Kumar Properties considered 27,000 satisfied and happy families as their brand ambassadors and true strength behind its mega success. Providing complete solutions to its esteemed clients, the Group is a symbol of trust and integrity built through its quality of work.

If you are on the lookout for 2, 3 BHK luxury apartments in Pune then, Kumar Pinakin is definitely your best option to match your expectations. This project is located near Hinjewadi’s IT park and Mumbai-Bengaluru highway. With modern amenities, Kumar Pinakin offers you with every need to suit your taste.

Luxurious Apartments - Kumar Properties

Kumar Pinakin features a top class earthquake resistant construction that has empowered it to face nature’s challenges. Some of the attractive features in this project includes, solid wood wide jamb door frame with solid wood shutter for main door, water-resistant FRP door shutter with SS fitting for toilets, pre-moulded HDF SKIN doors with SS fittings for bedrooms, powder-coated aluminium sliding windows with MS grills, acrylic emulsion paint for walls and ceiling along with gypsum punning on walls, designer look for lobby entrance that’s indeed charming and refreshing. Also, the balconies/terraces feature anti-skid tiles that ensure protection in rainy season. Designer entrance lobby and Acrylic emulsion paint for the ceilings as well as walls, indeed rends a rich and enhanced living experience to investors.

Pricetown Royale project in Bengaluru enriches lives in every aspect

Princetown - Kumar Properties

Kumar Properties is a renowned brand and one of the major players in Pune Real Estate sector with annual sales of more than one million sq. ft., the group was founded by Mr. K.H. Oswal on August 15, 1966 and earned the pioneer status for IT Parks, Commercial Buildings, Malls and Mega Townships in Pune, Mumbai and Bangalore regions. Kumar Properties considered 27,000 satisfied and happy families as their brand ambassadors and true strength behind its mega success. Providing complete solutions to its esteemed clients, the Group is a symbol of trust and integrity built through its quality of work.

Club House - Prince town

Princetown Royale project by Kumar Properties is located in Jalahalli, Bangalore that offers modern 3 BHK luxury apartments. This residential project is a standalone project that features 16 storied single tower that gives you an opportunity to view the Mallasandra lake and 300 acres of lush green air force land. Located towards the north part of Benguluru, the project offers an opportunity to experience complete privacy and tranquillity surrounded by nature. This mega project is capable of housing around 76 families who can make out of uncompromising standards of luxury and comfort.

Prince Town - Night View

Princetown Royale offers facilities like Swimming Pool, Gymnasium, Clubhouse, amusement park for your children and Jogging Track. Its project has been designed and implemented along with earthquake resistance. For added safety, the team of experienced engineers have utilized Anti-skid tiles for attached Balconies as well as have provided Anti-skid designer flooring in toilets. Power back up facility has also been provided for lifts, equipments in common areas, pumps and apartments. For the further security reasons, access controlled entry at the lobby with CCTV camera have been provided.

WHAT ARE THE ASPECTS TO CONSIDER BEFORE BUYING A PROPERTY?

Kumar Properties is one of the leading Real Estate groups in Pune, Bangalore and Mumbai in India. It offers best deal in buying residential homes with all standard amenities at a very reasonable price tag to its esteemed customers, in compliance with the tagline “building trust and reliability since 1966”

Anyone who is planning to buy a property, it is mandate to keep certain important factors into consideration which are as follows:

• LEGALITY: Buyer must check the approval of the plan which includes architectural drawings or maps of the building before going ahead with the agreement process.
• LOCATION: It is one of the prime aspects in terms of connectivity with the main city and other daily facilities like hospital, railway station, school etc so, the buyer must consider them as well.
• FEATURES: This includes building features and specifications related to facilities and amenities provided in the flat.
• COST: A buyer must do a complete survey about the pricing of a location where the individual is planning to buy a property that too should be taken into consideration.

Kumar Properties