Is 2024 the Right Time to Buy a Flat in Bangalore?

 

Ride the real estate wave in Bangalore

Here’s why Bangalore should be on your radar for home buying in 2024

With rising costs, standard of living and a global economic slowdown affecting the world one might expect to see a downward trend in home purchases. However, the city of Bangalore seems to be defying all the odds as it has experienced an upward surge in flat purchases over the past 2 years.

The primary reason Bangalore has made a steady comeback in the real estate market is its USP of being a hub for job opportunities around IT parks and office hubs. The booming job market provides a lucrative offering to plenty of people looking for their dream roles. While a small segment of these workers are native to the city, most shift from within the country to help shape their careers.

What are the popular trends observed in 2024?

1. Government subsidies:

With the Karnataka government providing subsidies under the Bengaluru Housing Plan, many lower and middle-income group individuals are availing these benefits to relocate to more affordable locations in Bangalore. New home construction subsidies are a lucrative offer for individuals willing to invest their funds in these schemes.

According to the NoBroker annual survey, 86% of landlords are considering purchasing a second property to capitalise on this lucrative market. Saurabh Garg,

2. Developed infrastructure facilities:

Being an urban hub city, Bangalore prides itself upon its infrastructurally developed set-up. Developed and well-connected metro lines, well-maintained road networks, and the presence of world-class educational and healthcare facilities make Bengaluru an enticing location for apartment buyers.

As an investment option, Bengaluru has provided an attractive return of 8.98% on housing in 10 years. If seen from an investment perspective, Bangalore has provided home buyers with an exceptionally high ROI and trends in the past years showcase that the demand for flats in Bangalore will only increase further.

With an abundance of residential projects that offer lush green spaces and ample open spaces, the sold-out status of the Parkwest project by the Shapoorji Pallonji Real Estate group only further highlights the lucrative status of Bangalore.

On the heels of the Parkwest project, the group also launched Parkwest 2.0 in Binnypet, at the heart of Bengaluru. Their 3 & 4 BHK flats in Binnypete start at extremely affordable prices of ₹2.6 crore and ₹3.5 crore respectively making them highly coveted locations for purchase.

View their project details on their website here — https://shapoorjirealestate.com/residential/parkwest-20/

Originally Published at - https://industryupdates.medium.com/is-2024-the-right-time-to-buy-a-flat-in-bangalore-b5e973a72dce

History of RBI on the eve of 90 years of the Reserve Bank of India (RBI)

 

Reserve Bank of India (RBI) Old Building

A history of RBI’s infrastructure

The Indian banking system has developed over time since India’s independence. Established in the early 20th century, The Reserve Bank of India was established under the Reserve Bank of India Act in 1934.

Granted on a statutory basis, the bank officially commenced operations on April 1, 1935. The Bank began its operations by taking over control from the Government of India.

The centralisation of the banking system also embarked on three main objectives as their primary goal:

• Regulate the issue of banknotes
• Maintain reserves to secure monetary stability and
• To operate the credit and currency system of the country to its advantage.

These functions were earlier being performed by the Controller of Currency and the Imperial Bank of India, who managed the Government accounts and public debt.

The Reserve Bank of India was originally set up as a shareholder’s bank and was nationalised in 1949.

The Bank was also instrumental in institutional development by setting up institutions like the Deposit Insurance and Credit Guarantee Corporation of India (DICGC), the Unit Trust of India (UTI), the Industrial Development Bank of India (IDBI), the National Bank of Agriculture and Rural Development (NABARD), the Discount and Finance House of India (DFHI) among others to build the financial infrastructure of the country.

Being an important architectural marvel in terms of construction, design and its integral role in the history of the nation’s financial infrastructure, the RBI commissioned the Shapoorji Pallonji group to handle the construction of its new building.

While this project was commissioned at a challenging time of budget cuts, the structure serves of prime importance to the core monetary prowess of the nation.

Having previously constructed the RBI old building in Mumbai in 1939, the group had established their reputation for handling large-scale projects of imminent importance with finesse, irrespective of the magnitude and scale of the project.

Thus the new RBI building stands true to the Shapoorji Group values and serves as a structure of pivotal importance safeguarding the nation’s finances since 1980.

Originally Published at - https://industryupdates.medium.com/history-of-rbi-on-the-eve-of-90-years-of-the-reserve-bank-of-india-rbi-c9d8ff416af7

Top sights in Bandra Kurla Complex (BKC)

 

Living in BKC

The city of Mumbai offers an individual many experiences, unlike any other city. With abundant historical places to visit for architectural lovers, this city has plenty of entertainment options for one and all.

Amidst the hustle and bustle of the ‘City that never sleeps’ we have a prominent area that rests at the heart of Mumbai city and marks a pivotal place for one to visit and explore over and over again.

The Bandra-Kurla Complex area referred to as BKC, is an iconic area that is a highly visited location to set up a home or even visit for its numerous attractions. One of the most prominent locations is the Phoenix Marketcity Mall, situated in Kurla, which provides a host of shopping and entertainment options.

With retail stores ranging from high-end luxury brands to your everyday local groceries and essentials, this mall has something for everyone. While catering to your shopping needs, this mall also provides a delectable treat to your tastebuds with a delicious blend of multicontinental restaurants with something for everyone’s palette.

In addition to having ultra-modern luxuries, the Bandra-Kurla Complex also plays host to a diverse natural environment that can be seen nestled comfortably in the Maharashtra Nature Park. An iconic urban park, several walking trails provide a relaxed and serene environment for a comfortable evening.

In addition to being a natural park, the park is an important educational landmark that helps one understand the diverse flora and fauna offered with over 200 bird species and 40 types of butterflies which is an immersive experience for one to connect with nature.

Visiting these places of interest becomes extremely convenient when one resides in the vicinity itself. Amidst the many architectural landmarks of the area, the residential buildings of the area itself are iconic and a symbol of the well-developed environment of the Bandra-Kurla Complex.

The infrastructure marvel of BKC 28, developed by the Shapoorji Pallonji Group adds a level of excitement to your life by providing amenities while helping you unlock a luxurious lifestyle with 2 BHK homes. While looking for a home that exudes extravagance, one can consider 2 & 3 BHK homes in Bandra East developed by Shapoorji Pallonji Group under BKC 9.

While homes are a reflection of your lifestyle and choices, the choice of area for your residence can provide a touch of extravagance to your life too. The extravagant location of BKC offers a multitude of options for one to choose from, so you too can find your dream home in BKC today. — https://shapoorjirealestate.com/

Originally Published at - https://industryupdates.medium.com/top-sights-in-bandra-kurla-complex-bkc-d91927ef2668

What are the tax benefits on a home loan section 24 for FY 2023–24?

 

Tax benefits you must consider while taking a home loan!

Purchasing a home involves a huge financial investment that requires adequate financial planning. However with careful planning, one can avail several redemptions while making the most of the benefits offered by the government and loan sanctioning authorities to save on their loan amount.

Here’s a quick understanding of the available tax benefits on home loans.

A person applying for a home loan is eligible to apply for exemptions under Section 24b, Section 80C and Section 80EEA with exemptions totalling up to ₹5 lakh.

Explore here — https://www.joyvillehomes.com/tax-benefits/

What are the tax benefits on a home loan section 24 for FY 2023–24?

Section 24(b) offers income tax rebate on home loans but only on the interest part of the loan. This rebate is also applicable if you have taken a loan for home construction or renovation. Here it is important to note that the property must be used for self-occupation or rental purposes only. The deduction is calculated on the pre-payment charges and processing charges you pay to your lender.

If you have rented out the purchased property, you can claim a full interest payment deduction. However, if you have occupied the property, you can claim deductions only up to Rs. 2 lakhs per financial year.

One must note that this benefit is valid on the condition that the construction of the project is completed within a specified time frame.

How much tax can you save?

The amount of tax you can save on a home loan depends on factors such as the loan amount, interest rate, and individual tax slab. Generally, borrowers can avail of deductions of up to Rs. 2 lakh on the interest paid under Section 24 if they have occupied it.

Under the Income Tax Act, a home buyer can claim deductions under both these sections at the same time which enables one to maximise their benefits. While Section 24 allows deductions on interest payments, Section 80EE offers additional deductions specifically for first-time homebuyers meeting certain conditions.

Once you have a clear understanding of the deductions you are eligible for, you are equipped to make a prudent decision concerning your next home purchase. Financing your dream home is easier when you are aware of the applicable charges while purchasing your home.

To explore properties that are currently under construction or fully constructed, visit https://www.joyvillehomes.com/ today.

Originally Published at - What are the tax benefits on a home loan section 24 for FY 2023–24?

Why invest in Manjri?

 

The suburban life awaits at Manjri

When it comes to identifying growing residential localities in Pune, the locality of Manjri, located east of Hadapsar and Magarpatta is the first that comes to one’s mind. Once a quaint village, the area of Manjri has now developed into a robust locality catering to the needs of one and all.

Here’s why Manjri should be your next consideration if you are looking to invest in property in Pune:

Prime location:

With proximity to major IT hubs like SP Infocity and Magarpatta, Manjri is emerging as a sensible investment option for residential purposes. Located amid industrial areas and IT parks, this well-developed locality is home to residential homes, apartments and plots that offer all the facilities of a well-developed residential space, amidst a touch of nature. A clean and healthy environment, complemented by the availability of good schools, hospitals and markets in the vicinity has made it a well-livable area.

Accessibility:

Manjri is equipped with a robust and well-maintained road network system. The Pune Railway station is situated within an accessible distance and the Pune International Airport is also reasonably close.

Connectivity:

The area’s proximity to the Pune-Solapur Highway, Manjri Road, Saswad-Manjri Road and Uruli Kanchan-Manjri Road provide ease of accessibility within the city. In today’s time of rising traffic, tedious commutes and cumbersome travel times, the presence of a well-maintained network of roads is an extremely vital asset to a city.

Development:

The livability index has been improving with the development of physical infrastructure and enhanced connectivity in Manjri. As far as safety is concerned, safety in Manjri is not an issue to worry about. This region also has to offer a wide range of residential options catering to different economic sections of society. The presence of well-maintained healthcare facilities, educational institutions, recreational facilities, shopping centres and a plethora of public amenities make it a highly visited location.

Amidst all these highly lucrative benefits offered by the prime location of Manjri, there lies a gem in the crown of SP Kingstown — Joyville Celestia!

Offering 2 and 3 BHK homes in Manjri at affordable prices that offer a luxurious lifestyle, you can find a home where an all-rounded sense of wellness awaits. Visit https://www.joyvillehomes.com/ to know all about their 2 and 3 BHK homes in Celestia.

Originally Published at - Why invest in Manjri?

Mutual funds vs real estate: The prudent investment option

 

When it comes to investing for the future, there are a plethora of options available. While all options help you to realise substantial tangible results, the choice of investment vehicle greatly influences your earning potential for the future.

Most strategic investment decisions rely on certain key factors namely: Investment capacity, investment horizon, investment objective, risk-bearing capacity etc. to name a few. However, the two investment options that are commonly considered are real estate and mutual funds.

Both these avenues bring their own set of benefits and risks that encourage or deter an investor from investing their funds in them.

Here are some key factors that you should consider when choosing between these investment options:

1. Security and stability: If you have a low risk-bearing capacity, you would be better suited to invest in real estate markets as they are a stable investment when it comes to building wealth. Positive trends expected in the real estate market can help provide more stable returns in the future as compared to the volatility of mutual funds.
2. Capital appreciation: Investments in real estate have a demonstrated history of providing appreciation over time. This is because as new projects are announced, they attract developments around them that boost the value of the property where they are built. Real estate also offers investors the opportunity to improve the resale value of their properties by enhancing the property with furnishings and modifications, or by renting out their properties. This provides a better wealth-building option through real estate.
3. Control over investment: While purchasing a property with an investment objective, an investor can exercise greater control over the kind of returns they are expecting by carefully choosing the real estate property based on location, facilities, amenities, resale value of property and other factors. However, in the case of mutual fund investments, the investments are controlled entirely by the fund managers who invest with specific objectives in mind. This option of investing therefore offers lesser flexibility and control.
4. Liquidity and flexibility: Both investment options vary in liquidity, as mutual funds are highly liquid thereby allowing investors to purchase and sell shares at market price. Real estate is often less liquid since selling property can take time and entails transaction expenses and market swings.

Additionally, real estate is a less flexible investment option as it requires hands-on management to deal with regular maintenance.

While making investment decisions involves a certain degree of financial acumen and risk-bearing capacity, getting started with investments is fairly straightforward once you are equipped with the right resources.

Joyville Homes has developed a variety of affordable homes that serve as a smart investment option for those looking to explore investment options in the real estate sector.

Visit www.joyvillehomes.com for more information.

Originally Published at - https://industryupdates.medium.com/mutual-funds-vs-real-estate-the-prudent-investment-option-b353e28e52d4

Top 5 Construction Projects by Shapoorji Pallonji for Educational Institutions

Reshaping the future: Developing campuses in India

The Shapoorji Pallonji group has been at the forefront of modernising the educational sector by lending its expertise to the construction of some of the most well-known institutions of India. Whether this involves developing the medical colleges in Jharkhand or the prominent names of IITs in India, the Shapoorji Pallonji group has time and again showcased their excellence in delivering quality results coupled with their years of experience.

Let’s find out about the Shapoorji Pallonji group’s projects centred around developing colleges in India:

IIM Kashipur

IIMs are our country’s most coveted educational institutions for pursuing a master’s in India. IIM Kashipur located in Kashipur offers an integrated institutional campus with student hostels, faculty housing, canteen and other ancillary infrastructure.

IIM Tiruchirappalli

The IIM Tiruchirappalli campus offers a world-class institutional campus comprising student hostels, canteen, recreational facilities and other ancillary buildings, with an integrated residential complex for faculty housing.

IIT Patna

IITs are considered the leading institutions for engineering and technology, and hence deserve only the best quality infrastructure. IIT Patna boasts of an integrated institutional campus with fully equipped academic facilities such as administrative buildings, departmental buildings, tutorial complexes, workshops, a food court, and other ancillary infrastructure.

Medical Colleges, Hazaribag, Jharkhand

The Medical College in Hazaribag, Jharkhand premises comprise an academic block, boys’ hostel, girls’ hostel, staff quarters, electric sub-station building, and other infrastructure works.

Dr. Kalam Agricultural College

Constructed in 2018, the Dr. Kalam Agricultural College in Kishanganj hosts an institutional campus with advanced agriculture laboratories, research centres, farmhouses, animal housing facilities, and storage units. The campus also hosts academic buildings, auditoriums, sports complexes, student hostels, a fully functional residential complex with faculty housing, convenience centres, a community hall, and a school.

While the quality of education plays the most important role when deciding upon an educational institution, the quality of the infrastructure of the campus also fosters a sense of trust and reassurance amongst the students and their parents.

Explore all the campuses built by the Shapoorji Pallonji Group at https://www.shapoorjipallonji.com/business/EngineeringAndConstruction.

Originally published at - https://industryupdates.medium.com/top-5-construction-projects-by-shapoorji-pallonji-for-educational-institutions-a5ec33a84653