5 Disadvantages of Home Loan is quite unusual topic for my blog. I personally feel that any financial decision should not be biased and prejudice. We should look at both the aspects before arriving at final decision. Based on rough estimates, 80% residential real estate transactions in India are executed by availing Home Loan. For majority of Indians real estate affordability is major concern. At the same time there is no love lost for Real Estate & Gold. Home Loan is blessing in disguise for this section. Buying a property on Home Loan is a major financial decision and each financial ... Read More
Deed of Transfer of Rights
As i mentioned in my previous post that i will write a separate article on Deed of Transfer of Rights. To understand the context & background of Deed of Transfer of Rights, I would request you to read the article How to Save Stamp Duty & Registration Charges before proceeding further. Deed of Transfer of Rights is executed to legally bridge the transaction gap between Sale Agreement Value and Sale Deed Value if the property is registered at Guidance Value or Circle Rate. Taking forward the same example of Mr A, who bought flat in Delhi for 1 Cr but registered at 67 Lacs as per circle ... Read More
How to Save Stamp Duty & Registration Charges
How to save stamp duty and registration charges is a tricky question. Before discussing the same, lets understand what is stamp duty. According to wikipedia, Stamp Duty is a tax that is levied on documents. At the time of transferring ownership of property i.e. Registering Sale Deed, the buyer need to pay stamp duty & registration charges to Govt. The Stamp duty and Registration Charges vary from state to state. Some states offer discount on Stamp Duty e.g. if the property is registered in the name of a woman then you can save stamp duty. In Delhi stamp duty to be paid is 6% but if the ... Read More
5 Must Have Clauses in Property Sale Agreement
Property Sale Agreement is most important document. It is different from Sale Deed though in some cases Sale Agreement is registered as Sale Deed. Sale agreement contain agreed upon Terms & Conditions between Seller & Buyer for the sale of property. It is legally binding on both the parties. It also specifies the date by which the transaction will be completed. In laymen terms, Sale agreement is a road map how the property transaction will be completed. On the other hand Sale deed is executed at the time of actual transfer of property i.e. transfer of ownership from seller to ... Read More
5 Financial Planning Myths
Myth is always far from reality. It applies to some of most common or following 5 financial planning myths. The goals and objectives in our lives keep changing with time. In India, Financial Planning is loosely correlated to Retirement planning which is not true. In laymen terms, We need Financial Planning for each & every critical financial goal in life. Be it Kids Education, Buying a Property or Retirement. Different financial goals have different time frames e.g. i have time frame of 10 years for kids education or 15 Years left for retirement. The biggest roadblock to financial planning ... Read More
How to Buy House with Home Loan
To Buy House with Home Loan is quite tedious & exhaustive process. Buying a house itself is a major financial decision. Some people delay this decision as they would like to buy their first property from own funding. Best bet is to buy house with home loan. Reason being property prices keep increasing and secondly, during the later part of life financial commitments will increase. When i bought a house, i struggled to understand steps to buy house with home loan. After going through this cycle, now i am in a position to explain step by step process how to buy house with home loan. Step 1: ... Read More
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