How to Invest in Right Property Within Budget in 2021.

Invest in right property.

Invest in right property.

Investing in real estate property can be very confusing especially if you are a first-time investor, To invest in the right property within budget is one of the tasks for new investors. the real estate market in India is flooding with a variety of options and types of property ranging from residential, commercial, land and villas, etc. Real estate minds that conduct a market study and background research can help you a lot to choose the right property deal. So the question is how to invest in the right property within your budget.

Know what you are looking for.

Main factor that you may overlook during the process of property search is to know that what you are looking for with this purchase. Different people will have different intentions to invest in the right property. For some people, it may be a dream home that you want to buy and for some others, it may be a profitable investment source for the future.

so understanding really what you are looking for is the most imperative in the case of property. Also if you are choosing a house, you may have some expectations like having more space, a swimming pool, garden, play area, security, and much more. Most of the modern apartments and gated townships and villas provide a range of lifestyle amenities that you and your family can make use of.

Calculate the budget

The second step after knowing what you are looking for is calculating the budget to check how much money you can afford to invest in the property. If you are a first-time homebuyer, then it is better to consult a qualified and trusted financial advisor to know your bank loan eligibility and related criteria. Once you have calculated the budget, then start exploring different options which fit within the limit.

Always try to choose an investment that offers high value for money and serves the purpose that you envision. It is better to start small as spending beyond your limit can invite huge financial burdens in the future. While analyzing the budget, do not forget to include the additional expenses like registration charges, tax, interior styling, furniture, etc.

Size and type of the property

Finding the right property is a confusing part as you may find number of options in term of property of different sizes and types in your chosen location.The prices of land can vary depending on the location, size, age, and type of property.So it is importanat to decide which type of property you want to invest in.Buying ready-to-occupy apartments is a great way of earning monthly income as you can rent it out as soon as you buy the property.

Another affordable investment option is investing in an ongoing project. Ongoing projects will be priced much lesser than the price of completed projects in the city. Moreover, you can get homes equipped with state-of-the-art modern amenities if you book a flat or villa in an ongoing project. Also, prices will vary according to the number of bedrooms, amenities and quality of materials used. Builders in Kerala like Confident Group offers apartments and villas at varied prices ranging from luxury to budget segment.

Decide the location

And the most important step to invest in property is to find an ideal location that you are interested in. It could be your native city or a place where you are working, location is an important factor that decides the worth of your investment. Remote localities will usually be cheaper than localities within the city with rapid development.

So depending on the purpose of your investment choose a location that is right for you. For example, if you like to stay in a peaceful and verdant area away from the noise of the cities, then consider buying a home or plot in the outskirts. If you like to have a modern lifestyle close to your workplace enjoying the city transport facilities then go ahead and invest in a budget apartment in your favorite city.

Growth in e-commerce a boon for India’s logistics sector.

The number of e-commerce shipments is set to grow to 10.5bn by 2025, up from 2.55bn last year, according to Redseer.

Growth in e-commerce

Logistics provider Blowhorn has managed to double its business to achieve 2 million deliveries a month, servicing more than 70 cities in India amid a surge in online purchases since the pandemic hit last year and as the logistics sector continues its own process of going digital.

The technology-driven, Bangalore-based company connects customers to warehousing space and trucks for deliveries within cities via its website and mobile app.

Mithun Srivatsa, who co-founded Blowhorn in 2014, describes his company as “an Uber for trucking or moving goods” and “an Airbnb for warehousing”, as it owns neither the trucks or warehouses available through its network. The company has received investment from the Michael and Susan Dell Foundation and India’s Venture Catalysts, among others

“E-commerce adoption took off during the pandemic and has spurred more and more people online,” says Mr Srivatsa, who is the company’s chief executive. “Suddenly you had people like my mother, who was 65, deciding to buy their groceries online.”

India’s logistics sector was worth $320 billion in 2019 and accounts for 11 per cent of the country’s GDP, according to a report by consultancy Redseer.

“Logistics have remained a backbone for many industries and over the years has enhanced its technology-based offerings to suit various sectors and their needs,” the consultancy says.

Its data shows that e-commerce transportation grew 70 per cent year-on-year to 2.55 billion shipments in 2020, and it projects that this will increase to about 10.5bn by 2025.

“The industry overall right now is very bullish,” says Anjani Mandal, the chief executive at Fortigo Network Logistics, a trucking platform based in India’s tech hub, Bangalore. “The e-tailers have had a rapid growth because of the lockdown.”

In March last year, India introduced one of the world’s strictest nationwide lockdowns in response to the pandemic, which meant that people could only go out for essential goods or services. For the first month of the lockdown, Mr Srivatsa at Blowhorn explains that the company did “a small fraction of volumes we were doing before” because of the “chaos” and “mass confusion” that the restrictions caused.

But as people moved towards online orders, the service started to see a surge in demand from its e-commerce clients and did “some of our best growth months during the pandemic”. With this boost, the company is expecting to achieve profitability this year.

The logistics market is made up of of road transport, warehousing and other delivery networks such as air, sea and railways.

Road logistics, at a value of $240bn in 2019, makes up the lion’s share at 75 per cent of the market, according to RedSeer. It says that “the road logistics market and last mile delivery is moving in the right direction to profitability”.

The last mile delivery segment, which is the area Blowhorn focuses on, is expected to expand to become a $6bn to $7bn market by 2024, up from $800m to $900m in 2019, Redseer estimates.

There have been several factors working in the sector’s favour.

“In recent years, there has been a rise in e-commerce with more fleet in place to cater to the increasing demand,” says Nakul Singh, the co-founder at ANS Commerce, an e-commerce enabler that helps brands to sell online.

This has prompted “growth in the investment in infrastructure, last-mile connectivity, and emerging technologies are streamlining the logistics landscape in India”, he says.

The warehousing sector in India, which makes up about 13 per cent of the logistics industry, is going from strength to strength because of the e-commerce boom.

“The Covid-19 pandemic has been positive for growth in the warehousing sector,” says Niranjan Hiranandani, the co-founder and managing director of Hiranandani Group, a Mumbai-based property developer. “A huge quantum of Grade A warehousing spaces are being created.”

The founder of digital logistics platform, Zipaworld, believes that better integration of parts of the network can create more efficiency.

“The increasing logistics and supply chain cost, which is almost 14.5 per cent [of the cost of goods] in India shouts out for integration and digitalisation of processes,” says Ambrish Kumar, who set up the company last year in the midst of the pandemic.

“The age-old traditional logistics sector is yet to fully adapt to technological advancement”, with the e-commerce sector demanding transparent tracking of shipments and accurate delivery timeframes, he says.

Amitava Saha, the founder and chief executive at XpressBees, an express logistics provider in India, says that its use of technology has been a major factor in its strong performance during the pandemic, as it has given it “an ability to re-route [and] to avoid hotspots”.

Yet although technology is proving to be a boon, there are barriers to its adoption.

“There’s a lack of trained manpower,” says Mr Saha. “As logistics is becoming more tech-enabled, you need a certain standard of people to operate or grow the company, which is very different to the manpower that most traditional logistics companies had.”

Mr Mandal at Fortigo, which connects clients and truck fleet owners in the broader road logistics sector, explains that despite the overall bullishness, a lot of truck owners have been hit hard by the pandemic. This was because deliveries across states and between cities became more challenging due to Covid-19 curbs, and truck owners struggled to pay off loans on their vehicles once the Reserve Bank of India’s six-month moratorium on loans ended in October.

“As a consequence, the number of trucks started to decline at the end of 2020 and by February 2021, the population of trucks went down by 20 per cent, from 5 million to just under 4 million,” he says.

In the short term, business is taking a hit during the current massive second wave of Covid-19 infections, as many factories remain shut.

This has hit Fortigo’s business, as the company relies on the movement of metals and materials, as well as fast-moving consumer goods. There have been other challenges posed by the second wave for logistics firms in India, including staff coming down with the virus and workers fleeing to their home towns, creating labour shortages.

On Saturday, 120,529 new cases of Covid-19 were discovered and the country recorded 3,380 new deaths, according to the Ministry of Health. This brought the total number of cases since the pandemic began to almost 28.7 million and the number of deaths to 344,082.

In the long run, though, the industry remains bullish on the transformational power of technology.

Road logistics in India is highly unorganised, with most trucks owned by individuals or small businesses. Technology has started to bring more structure to the industry, Mr Mandal says.

“The main development that happened in the industry was the role of digital logistics became dominant in the very large organisations,” he says. This has led to rapid expansion for companies like his in recent years.

Digitalisation is still relatively new, and there is a long journey ahead, but the sector will have no option but to adapt, XpressBees’ Mr Saha says.

“I believe that going ahead, tech-based logistics will grow at a much faster pace and take over a bigger share of the market pie compared to traditional logistics companies.”

Mr Srivatsa also expects substantial growth as “a 100 year old industry” goes through a period of disruption.

Panel to verify green nod for parking area of SRA project: NGT

Panel to verify green nod for parking area of SRA project: NGT

MUMBAI: The National Green Tribunal (NGT) constituted a joint committee to inspect if there is any alleged violation of Environmental Clearance (EC) conditions in the parking requirements at a major Slum Rehabilitation Authority (SRA) project coming up in Worli.

The interim order was passed by the NGT principal bench at Delhi in an application that sought “compliance of EC conditions in providing parking by Skylark Buildcom Pvt Ltd and Oberoi Realty Ltd, Mumbai”.

The panel will comprise representatives of the Central Pollution Control Board (CPCB), Maharashtra Pollution Control Board (MPCB) and State Environment Impact Assessment Authority (SEIAA), said the June 4 order uploaded on Monday.

No lawyers appeared for the builders, noted the NGT, but the order by a five-member bench headed by chairperson Justice Adarsh Kumar Goel stated, “We have considered the application and find that the grievance needs to be gone into by a joint committee of CPCB, MPCB and SEIAA, Maharashtra.”

A spokesperson for Oberoi Realty declined to comment on Monday.

The application claimed the SRA project for Sai Sundar Nagar CHS and other amalgamated societies is coming up on a 21-acre plot in Worli with “260 super luxury flats”.

Mumbai residents Santosh Patil and Manoj Salvi, through their advocate Aditya Pratap, had filed the application before the NGT for directions to provide 500 parking slots as set out in the January 28, 2016, EC issued by the SEIAA. The EC condition stated, “Traffic congestion near the entry and exit points from the roads adjoining the proposed project site must be avoided. Parking be fully internalised and no public spaces should be utilised. Parking for existing and proposed development (1,726 for sale building and 500 for rehab building).”

The MPCB shall be the “nodal agency for coordination and compliance” said the NGT. “The joint committee may look into the grievance and if there is violation of EC conditions, take suitable measures as per law, including assessment and recovery of compensation, following due process. The joint committee may visit the site and is also free to conduct proceedings online,” the order added. The committee may interact with the stakeholders and consult any other expert and submit any ‘action-taken report’ within two months, said the NGT and posted the next hearing on September 7.

How to Improve Your Credit Score for a Home Loan During Pandemic in 2021

 Improve your credit score for a home loan.

Coronavirus pandemic has seriously affected the life and the peoples finances since it has started in year 2020.Large number of our countries populaton has lost there job due to pandemic or some of the income for last six months,due to which the people are failing to pay their bills on time.

With the cash flow heavily affected in form of layoffs and salary cuts,the demand for new credit loans has been risen and majorly in form of unsecured loans.However, to enjoy these benefits,one must have a good credit score,especially in corona crisis.

Importance of Credit Score :

The credit score of a person showcases his or her creditworthiness to the bank. If you have taken a loan or a credit card from a bank, paying back the loan in EMIs or paying your credit card dues on time and in full has a positive impact on your credit score. However, any defaults missed payments, etc. can have a negative impact on the score.

In a crisis like the COVID-19 pandemic, if there is a necessity for a loan, having a good credit score is the most important factor. Having a credit score above 750 is ideal and below 700 is below average. Having a high credit score can often help you get lower interest rates on your loans or can also help you choose your desired tenure and amount of the loan as well. However, having a lesser score reduces the chances of these options.

Hence, to avail any of the products launched by banks to help customers during the pandemic, your credit score must remain steady.

3)How to Improve Your Credit Score

Follow these points to improve your credit score amid the pandemic:

Pay Your Bills on Time

Missed or late payments can affect your credit history for up to seven years. Try to pay your bills on time, at least the minimum amount by their due every month, to avoid hurting your credit score. If you miss a payment, it will be assigned to a debt collector after 30 days from the due date. If you can, prioritize paying your bills on time in full to avoid late payment charges or interest. This will help boost your credit score.

Keep Your Credit Utilization Ratio Low

Your credit utilization ratio or the credit limit is a crucial factor in calculating your credit score. Make sure you keep it under 10% to avoid hurting your credit score. If your credit utilization ratio is high, consolidate a loan to pay off the debt for a better credit score.

Keep Your Unused Accounts Open

Do not close your old credit cards even if you do not use them. The age of your credit accounts and the length of your credit history will increase your credit score. Consider purchasing at least every six months to keep your card active.

Review Your Credit Report

Another way to boost your credit score is regularly review your credit reports to make sure they are accurate and have no errors. This way, you can identify any mistakes or fraudulent activity and report it immediately to the credit bureau before it damages your credit score.

Do Not Apply for Too Many Loans or Credit Cards

Applying for a loan or credit card may require running a hard credit inquiry on your report. Each hard credit check can cost you 2 to 3 credit points. Your credit score can be significantly reduced if you apply for too many credit cards or loans at a time.

Protect Your Identity

Identity thefts and scams are widespread during the pandemic, so it is essential to secure your personal information. Cybercriminals or hackers can use your personal information to open your credit accounts, make purchases, borrow money, and transfer funds. If left undetected, this activity can significantly impact your credit score. Work with your creditor to protect your identity and personal information and ensure a better credit score.

Make a Budget and Plan Ahead

Creating a budget is necessary, especially if you are earning less money or temporarily unemployed. Cut down unwanted expenses, suspend non-essential services like lawn care and cleaning, and spend less on takeout. These will help keep your credit card debt low and credit score high.

How to Deal with Creditors If You Cannot Pay

When you are under financial stress and cannot make your loan or card payments on time, contact your creditor and ask for help. Many lenders have announced proactive measures to help their borrowers affected by the pandemic, providing loan extensions, repayment flexibilities, reduction in interest rates, forbearance, etc. You can explain your situation to your lender and ask for an extended period to make payments either in a lump sum or installments.
You can talk to your creditor and know the options available to delay the payments.

Govt approves Model Tenancy Act; to enable setting up of district-wise rent courts, tribunals in 2020

 Model Tenancy Act

In a bid to institutionalise the rental housing phase, the authorities of India has authorised the Model Tenancy Act, 2021 with a provision to arrange district-wise rental courts, authorities and tribunals throughout the nation.

With this, civil courts have been barred from entertaining any swimsuit or continuing associated to the provisions of this Act. By formalising all of the constructions and authorities, the federal government is aiming to offer confidence to landlords to let loose their vacant premises and stability the rights of each tenants and landlords.

The Model Tenancy Act will now be circulated to all states and Union Territories for adaptation by means of enacting contemporary laws or amending current rental legal guidelines suitably.

“The Model Tenancy Act will facilitate unlocking of vacant houses for rental housing purposes. It is expected to give a fillip to private participation in rental housing as a business model for addressing the huge housing shortage. The Act will enable institutionalisation of rental housing by gradually shifting it towards the formal market,” mentioned Niranjan Hiranandani, National President, NAREDCO.

The District Collector or District Magistrate, with the earlier approval of the State Government or Union territory is anticipated to nominate an officer, not beneath the rank of Deputy Collector, to be the Rent Authority inside his jurisdiction.

The Rent Authority, inside three months from the date of its appointment, will put in place a digital platform within the native vernacular language for submissions of tenancy agreements between landlords and tenants.

On Wednesday, the Union Cabinet chaired by Prime Minister Narendra Modi authorised the Act that covers each rural and concrete areas of the nation.

“While tenancy in commercial real estate segment has been a well-established tenet of the market model, the fractured landlord tenant relationship in case of housing segment has discouraged development of market model and obstructed institutionalisation of a rental housing market,” mentioned Shishir Baijal, CMD, Knight Frank India.

This Act won’t apply to properties owned or promoted by the federal government authorities, undertakings or enterprises or a statutory physique or Cantonment board. Premises owned by an organization, college or organisation given on lease to its workers as a part of service contract, properties owned by spiritual or charitable establishments may even not fall below the jurisdiction of this Act.

Following the enforcement of this Act, no particular person can be allowed to enter right into a tenancy association with out a written settlement.

The Act goals to offer a time-bound and strong grievance redressal mechanism consisting of Rent Authority, Rent Court and Rent Tribunal for fast-track decision of disputes. The Rent Court and Tribunal is anticipated to get rid of complaints or appeals inside 60 days. The tenant is anticipated to proceed paying lease even throughout the pendency of a dispute.

In case of Force Majeure occasion, the owner is anticipated to permit the tenant to proceed in possession of the property until 1 month from the date of cessation of such an occasion on the phrases of current tenancy settlement.

“The Model Tenancy Act will help bridge the trust deficit between tenants and landlords by clearly delineating their obligations and will eventually help unlock vacant houses across the country. To ensure speedy redressal of disputes, the Act also proposes to establish separate Rent Court and Rent Tribunal in every state/UTs to hear appeals for matters connected to rental housing,” mentioned Anuj Puri, Chairman, Anarock Property Consultants.

The Act stipulates safety deposit equal to a most of two-month lease for residential premises and most of six-month lease in case of non-residential property.

The authorities’s transfer to formalise the rental phase is anticipated to assist in overhauling the authorized framework and is probably going to offer a fillip to non-public participation in rental housing for addressing the housing scarcity in several revenue teams.