Although, philosophically it is true that it’s not a permanent place for any of us, still we need a house to live in. There is no denying the fact that we need a home, a roof over our heads. Staying on rent forever may be a very bad proposition as renting would call for recurring monthly expenditure which would increase day by day, month-on-month and year-on-year.
Bangalore is one of the Indian cities where the prospects of properties are fairly high as migrants from all parts of the subcontinent and even expatriates flock to the city every year. The city has been one of the most sought-after destinations even for the millennial’s as there is an IT revolution taking place and Bangalore is the IT capital of India.
Bangalore Real Estate has emerged to be the IT capital of India already but there are other cities like Gurgaon, Noida, Delhi, Mumbai, Pune, and few others which are rapidly urbanizing. The Indian investor obviously has a plethora of choices but deciding where to invest or buy property becomes a difficult proposition.
Owning a home may be great proposition and exciting too. All your investment is worth it as you accumulate a great asset whose value increases over time along with its income-generating potential through rental income. Rental income can make the cost of capital lesser and is a source of great income even when one’s potential to earn dwindles.
If you are buying a home for your own you may feel that own funds may be the best option as loan capital is a burden that you would like to get relieved of at the earliest. But even then, loan capital has its benefits like tax benefits and disbursal of your own funds if any requirement arises.
Homes are always sweet whether it’s your own home or you are living in a rented house! The reason is simple as well. It provides you the shelter that your heart yearns for. It has the love that nurtures and nourishes you and your family and helps all of you to grow physically, mentally, emotionally and economically.
A home loan is a bare essential for one to buy a home even if you have the money to buy your home out of your own funds. Locking your own capital is not a great idea and procuring a home loan is the best option available as own funds can be utilized for emergencies, contingencies, retirement or even invested for higher returns.
The Rajya Sabha passed the Real Estate Regulatory Authority bill on the 10th of March 2016 and the other provisions of it came into force from 1st May 2017. Under the Act, the central government empowered the state governments to notify their own rules six months after the Act was passed and issue model rules to be framed under the central Act.
