Know More
KNOW MORE
Many a time, buying a property is a long standing dream for anyone. It is a decision that involves a lot of emotion, finances and even social criteria. Buying a home or a commercial property is an investment that is being made today, for a comfortable secure life in the years to come. It is also a step that is taken today, for a better lifestyle ahead. Vaishnavi believes in enhancing the lifestyles by providing you with excellently designed spaces, which would reflect your style and personality.
Apart from providing you with better projects to choose from, the team at Vaishnavi is always ready to patiently explain any of the details that you would need from considering the purchase of a property, till you live in it comfortably.
Some of the details that you would want to know are explained below. For the rest, you can always call our associates at any time. We ensure a complete information sharing and assistance for anything that you would need in making your dream come true.

PROCESS OF BUYING A HOME
Some of the points that you need to consider while considering a purchase of a property:





















Our team is well informed and understands the various thoughts and anxieties involved in purchasing of a property. So, they do their best to make your journey of living your dream a smooth sail.

FINANCING YOUR PURCHASE
You can finance your purchasing of your dream space either by using your own funds or by applying for a loan. There are various factors that you need to consider while buying a new property either through own funds or bank loans.

  •   Using your own funds
  • The major factor to consider is from where the funds originate. If the funds are the proceedings of an earlier property sale, there are ways to claim for exemption from long term capital gain tax. This is usually exempted when the new purchase is done either one year prior to selling or within two years of the date of transfer of the earlier property. If it is not possible to buy a new property within a year of an earlier sale, then the proceedings have to be deposited in financial institutions which run Capital Gain Accounts schemes that are approved.
  • If the person who is buying a new property already holds another property on his/her name, then every year, one of the two properties are deemed to be let out, under section 24 of Income Tax Act, and the value of let-out will be considered as income.

  • Bank Loans
  • First of all you need to check the eligibility to apply for a bank loan. Any Indian Resident, NRI, or a person of Indian origin is eligible to apply for a loan if they are above 21 years of age, and would be 65years or below at the time of loan maturity. It would also depend on your employment status and the repay capacity.
  • One can apply for a loan before selecting the property, and upon understanding the eligibility and loan expected, further planning of the kind of property to invest in can be decided.
  • It is always better and safe to go for a leading financial institution to apply for a loan. It would also help to understand different loan formats from different institutions so as to get the best deal with low interest rates and high disbursement amounts.
  • Rates of Interest for the bank loans might vary from institution to institution. Also, you can go either for a fixed or a floating interest rate plans. A fixed interest rate remains fixed for  the entire loan period. If you opt for a floating rate, it might fluctuate and vary as per the market conditions. If the trend in market shows decreasing interest rates, you could go for floating rates, else, it is better to opt for fixed rates as you would be sure of the EMIs beforehand.
  • The financial institutions also charge a processing fee, which is usually up to 1% of the loan amount. Again, a thorough research on different options could get you a best rate. 
  • You can also choose the tenure of the loan which might vary from 2-25years, depending upon the repay capacity of the EMIs.
  • Sometimes, even the interiors and other costs can also be covered by the loan amount. It is better to have a complete understanding of your available options before taking the  final step.

  • If you are an NRI
  • As an NRI, you don't need any special permission to buy property in India. You can also transfer the property to another NRI. You can also rent or lease your properties within India. However, all these transactions have to be routed through India only. The remittance payments from abroad can be done to the Indian banks or other authorized financial  institutions. 
  • Also, there are no restrictions on the number of properties that an NRI can buy or sell in India. But, all these transactions have to be routed only through Indian authorized financial  institutions.
  • All the NRI investments are regulated under Foreign Exchange Management Act, which stipulates that IPI 7 form has to be filed with the RBI, along with the title deed or any other certified copy of the document before making a purchase. This form has to be filed within 90 days of purchase of the property, and has to be substantiated by a bank certificate. 
  • Any other foreign national, who is not of Indian origin, has to obtain prior permission from RBI to purchase any land within India. This also applies to partnership firms, where one of the partners is a foreign national without Indian origin.

Our projects are approved by major leading banks and financial institutions in India like SBI, LIC, ICICI, HDFC

For any further details and assistance in your processing of buying a property with us, please call on +91 9948280000 / 9885120616 or  +91 40 23119992 / 23118882
Or email us at  info@vaishnaviestates.com  and our executives will get in touch with you to help you through your journey of buying a property with Vaishnavi.





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