Banks are constantly trying to offer the most competitive rates on their lending services in the current financial landscape. For home buyers, this is a welcome opportunity to get the most beneficial home loan option possible. Anyone on the hunt for this excellent home loan rate may have heard of a ‘teaser loan’.
So what exactly is so unique about this offering?
A teaser loan is any loan that offers customers an impressively low-interest rate for a fixed initial period of the loan tenure. After this period, a higher interest rate is effective for the rest of the tenure.
Banks offer this proposition as a great incentive to attract borrowers for all kinds of loans, including personal loans, car loans, or home loans. The main goal is to get customers to avail of the loan at an attractive initial interest rate so that they are then willing to lock in the later increased interest rate.
For instance, if a homebuyer chooses to avail of a home loan with a 30-year tenure at an 8% interest rate, the bank can then offer this customer a teaser loan where they only have to pay 6% interest in the first three years. From the fourth year onwards the interest rate will switch back to 8%.
Adjustable-Rate Mortgages (ARM) are one of the most common teaser loans available. This home loan has a fixed interest rate for a short initial period after which the interest rate is applied to the outstanding balance. This is reset periodically, either at yearly or even monthly intervals.
The important thing for customers to understand here is that these teaser loans require a level of discretion and must be considered with the full context and not just the initial attractive offering. Asking questions and evaluating all the complexities of the loan will help to decide if the rates are really a good deal based on the customer’s specific needs and situation.
Explore details of affordable homes by Joyville Homes –
If you are planning for your next construction project, then turnkey solutions might be the best answer for you. A turnkey solution is a process in which the project is streamlined from the very beginning to the end. There are many more things which can be offered.
What is it?
When a contract is made by a company, the solution provider agrees to give building solutions and hand it over to the buyer, once it is developed, designed and fully equipped. The accountability for constructing the work is given by the owner to the solution provider. Any company, who gets into providing a turnkey solution, does it for a value which is agreed while the contract is made.
Basically, turnkey solutions in the construction business involves –
· Planning/Designing – Before moving into an apartment, the buyer has to make arrangements to hire a designer who can give a complete makeover to that house. But, in this part the solution provider is liable to design the area, which makes the prospect buyer’s life easy.
· Supplies – Here, the construction owner does not have to check on the supplies and run behind vendors to make it work. The solution provider makes all necessary arrangements and if need be takes suggestions from the prospect buyer for any specifications.
· Structure Creation/Building – Once the project owner has handed over the construction responsibility to the contractor, it is their duty to do everything from the scratch – whether it involves hiring workers and other contractors or anything else. The owner comes in picture only when the work is finished and the facility can be used by them without any hindrances.
When there are multiple constructions happening at the same time and the project owner is unable to give his attention to everything then, these types of solutions emerge as a saviour. The owners only have to take care of the initial permits and licence and give proper entry to the site. Everything else, from designing and supplies to construction etc., is taken care of by the solution provider.
The advantages of turnkey solutions –
These types of projects are beneficial for all the three parties – Project owner, Solution provider and the Prospect buyer.
· Budget friendly – Project owners work with the contractor who agrees to work on the value mentioned on the contract, which is mutually favourable for both of them.
· Saves time – When the project is given to a contractor, the owner has time in hand to expand his business and look at other areas as well.
· Hassle-free – As per the contract, everything except the permit and licensing is looked after by the contractor. The challenges are much lesser and the project runs smoothly.
· Expert knowledge – A contractor, who takes the ownership of providing a solution to a particular project, has all the expertise to take it ahead. They get in people who have sound technical knowledge about the work that they get into and that’s why they are the proficient in their field.
Most of the huge infrastructure projects which are funded by the government are handled and developed by turnkey solution providers. A private developer can handle all the aspects from land procurement, permits, plans etc.
Shapoorji Pallonji’s SP EPC (Engineering, Procurement & Construction) has proven engineering expertise and exemplary organisational infrastructure. Their solutions include overseeing every project end-to-end, right from conception to its implementation. Few of their succesful projects are –
Solar farms on lease are a new concept that is gaining widespread popularity in the agricultural industry. While it may seem like a wild idea, solar farms on lease are not a new concept. Companies have been leasing land for years to use for solar farms. With the government allowing farmland on lease for solar power plants, there has been an exponential increase in investments in this sector.
But first, what’s a solar farm?
Photovoltaic systems, also known as solar panels, are positioned in a large area for directly producing electricity using the energy of the sun. It is similar to power plants/stations. While it converts the energy into electricity, it sends the same to the power network for distribution. It is then consumed widely and used in a variety of work. Preferably, PV systems/solar panels can be mounted on the rooftop, but the preference is to use the ground for better results and safety.
Types of solar farms
Utility-scale
Be it a rooftop solar panel or mounted on the ground, solar energy plans are always on a framework. This in turn supplies electricity to the utility companies. Usually, utility-scale solar panels are placed on huge lands where these panels expand beyond limits. Electricity generated from the Sun is distributed to power lines and travels through the electricity grid to your home.
Communal solar
Sustainable technologies are used to generate electricity in the same place or within a small area. Generation of energy that is closer helps in better distribution. These are carried out on a small scale and that gives room to absorb more clean energy.
How does the leasing work?
A farmer leases his land to the company that installs the panels and sells the electricity generated to the utility company. The farmer gets paid for leasing out his land, and also gets paid for feeding into the grid with his surplus electricity production. The solar farm is owned by someone else and leased out(for 25-30 years) by the landlord to farmers for use as a source of income.
Payment is agreed upon by both the parties and as the generation of solar energy is reliable and foreseeable, the rent is decided on a per-acre basis. A reliable projection is made for the lease out period and as per the agreement the landowners get around ₹1-2 lakh per year per acre from the project owners.
How long is the process?
This process involves 5 steps before the actual plan starts.
Step 1 – The land is assessed and selected
Step 2 – A proper layout is made and checked for any foreseeable impact on the property
Step 3 – Lawful permissions are taken from the environmental authorities
Step 4 – Solar plants are installed on the farms, which takes upto a year
Step 5 – Grid connection is made for better supply and consumption
Any interference in farming?
Usually, there is no interference involved in the farming business. Minimal time is required for the surveyors to complete the groundwork.
Until the solar panels are constructed, you will have people moving in and around your farm to deliver materials for the required project. Other than this, there are only annual visits for maintenance purposes. You will be all fine to operate your farm without any hindrance.
Landowners can ask the project owners to give specifications of their earlier solar plant projects. So try and track their projects for better relationship and reputation maintenance.
In conclusion
This type of leasing out of farms has helped poor farmers a great deal and has given them an opportunity to live well. Leasing out is a perfect model for both the land and project owners.
Landowners get to earn a stable annual income and even have the right to gain future capital. Post the lease period is over and as freewill; landowners have even sold their lands to the project owners. This movement has largely been seen in the states of HP, Uttrakhand, Andra Pradesh, Punjab, and many more.
On the lookout for a fantastic new budget home near the Mumbai-Bangalore highway? With the recent advancements, Bavdhan has emerged to be a highly favored residential locality for middle-class families.
Earlier, in the 1990s, people used to consider Bavdhan as a destination for a second home but it has now changed into a fully residential area. The location especially makes it a preferred option, as it is closer to the IT and education hubs. It has a multicultural crowd, who own bungalows and theme-based residential spaces.
Here are our top 5 reasons to invest in Bavdhan
Landscape – Blessed with greenery and fresh air, the Bavdhan hills and their neighboring hills along with the Pashan Lake make for a peaceful combination of a welcoming home that’s away from the bustle of the city.
Connectivity – Bavdhan is situated near the Mumbai-Banglore highway, Paud, Satara, and Pune bypass road assuring easy access to every spot. It is 15 km from Pune railway station and 23 km from Pune airport. The location will soon have access to a metro line as well!
Nearby location – Having emerged as a developed suburb, Bavdhan is in close proximity to Lavale, Shivane, Kothrud, and Shivnagar. The area also has excellent schools, employment hubs, super-specialty hospitals, shopping malls, and various commercial shops. This makes it perfect for a family home.
Employment opportunity – Being very close to Hinjewadi IT Park, this is a great place to stay for IT professionals. There are many IT parks such as Nanospace IT Park and RMZ Westend that have been successful in creating employment opportunities in Bavdhan.
Infrastructure – Bavdhan residents have access to reputed schools, colleges, hospitals, and much more. There are multi-specialty hospitals like Asian hospital, Seth Ram Das Shah, Poona Hospital and Research Centre, and Ratna Memorial Hospital. Schools for your children like Hutchings High School, St. Vincent, St. Joseph, Ryan International, and colleges like Padmabushan Vasantdada Patil {Technology}, Indian Institute of Cost Management Studies and Research. There are some good shopping malls and old bazaars, where you can take a break and enjoy yourself with your loved ones.
Extra tip for NRIs
Bavdhan is potentially a good security option to earn better returns while having an amazing place in your name. Usually, such homes with easy access to basic necessities and other infrastructures have high prices, but the rates here in Bavdhan are reasonable but more importantly, a lifetime investment.
Interested?
There are plenty of residential projects developed by renowned developers and one of them is Shapoorji Pallonji Real Estate, which is known for making amazing homes without compromising on quality. Make sure to check out Vanaha – a space is being built on 6 acres of greenery, along with high-end amenities. They offer 1, 2,3, and 4 BHK duplexes with contemporary and maintainable features that include – Water treatment plant, rainwater harvesting, and more!
Infrastructure plays a crucial role in a country’s development. It helps in the growth and sustainability of the economy while creating the perfect environment for an economy to thrive. Infrastructure development is considered to be the fundamental key to encouraging sustainable and comprehensive growth for any economy.
When it comes to a developing country like India, the main focus lies in the growth and expansion of infrastructural needs that boost efficiency and provide a good quality of life to the citizens. An additional benefit is profitable international relations and better visibility as a country.
Top 8 Infrastructure Development Projects
Political Infrastructure
Reserve Bank of India (New Building) Constructed by Shapoorji Pallonji in Mumbai, 1980
Here, we focus on political institutions like Courts, regulating agencies such as IRDAI, SEBI, PFRDA, etc., and public services including Security, Protection, Police, and more.
Power and Energy Infrastructure
Alausa Power Plant by Shapoorji Pallonji in Nigeria, 2015
Such projects consist of generating, transmitting, and distributing all essential systems to the economy and other infrastructure. Energy projects include oil and gas pipelines, power plants, and advanced distribution systems whereas power projects consist of servers, generators, lights, control access, etc.
Transportation Infrastructure
Transport Infrastructure Developed by Shapoorji Pallonji Group
Transportation Infrastructure is vital for the well-being and growth of any economy. Such projects include ports, railways, roads, airports, bridges, tunnels, etc. that assist with connectivity and accessibility to all products and services.
Telecommunication Infrastructure
Turnkey execution of data centers by Sterling and Wilson
Communication is an inadmissible segment in the fast-paced digital era we currently live in. Physical mediums like drones, telephone networks, Wi-Fi, and broadbands help regulate and distribute seamless communication across the country.
Educational Infrastructure
Educational infrastructure by Shapoorji Pallonji Group
High-quality educational infrastructure helps education reach the majority of the population. With well-made classes, institutions, schools, and laboratories, comes better education institutions producing talented students for a brighter future.
Health Infrastructure
Health infrastructure by Shapoorji Pallonji Group
A good health infrastructure facilitates basic care, efficiency, and access to all kinds of people and groups. Such projects include medical professionals, cutting-edge machines, pharma industries, specialists, hospitals, etc.
Water Infrastructure
Water infrastructure by Shapoorji Pallonji Group
An essential for life, water infrastructure cover systems that are used for water supply, water reservation, and treatment, canals, dams, prevention of floods, etc.
Recreational Infrastructure
Stadium Construction by Shapoorji Pallonji Group
With an increase in cityscapes, these projects are built for people to have easy access to open spaces, grounds, play areas, convention centers, parks, etc. to step away from the bustle of daily life.
Shapoorji Pallonji Group is one such company that spread its wings to help people get better facilities and spaces with spectacular infrastructures. They are global leaders operating in 18 major countries and giving cutting edge end-to-end solutions in sectors like – Engineering and construction, Water, Energy and Power, and megastructure developments.
They have successfully –
· Harvested 320 liters of water in agricultural lands
· 5000 rural and tribal children provided with quality education
· 170 million sq. ft. of commercial spaces globally
· 0.5 million native tree species planted in Maharashtra
· 1.2 million nutritious meals served to children
· 180+ marine work globally
· 6000 native plants flourishing at the SP Biodiversity Garden
Let us all come together and make this mission stronger!
