Wednesday, 9 May 2018

Home Away from Home!

Second homes have got an impetus in the recent past,due to reformatory changes in the realty sector, thereby making them a lucrative bet for buyers.

Until a few years ago, buying a second or holiday home was a fad among people with disposable income. Thus, developers saw this as an opportunity to construct houses in far-off places and earn more profit. However, a lot of these projects failed to deliver on their promises. Delays in obtaining requisite permissions, poor accessibility / infrastructure, a lack of basic amenities and facilities and sub-standard quality of construction were some of the issues that plagued most of these projects. This left second home-buyers feeling cheated and their woes were compounded because resale on these properties became increasingly difficult. But this was the scenario back then. At present, the situation is different. It is a good and safe decision if you plan to invest in second homes today.

The introduction of pathbreaking reforms and measures such as demonetisation, RERA, implementation of GST, etc has improved the functioning of the realty industry. In the years to come, we believe there will be more institutional participation in real estate.

As per recent data, the holiday homes segment is growing at a healthy rate of 10-12 per cent p.a. There is a good demand in locations within two-four hours’ driving distance from major cities or towns. Some of the more prominent smaller towns where we have seen a marked increase in development of second homes are Dehradun and Shimla in the north, Ooty and Coorg in the south and Lonavala and Karjat in the west.

It has been observed that vacationers prefer holiday homes over hotels — cost, convenience and privacy being the major reasons. Developers too, are catching on this trend to attract more buyers. They offer to manage individual units in their projects and also lease them out in a professional manner. Thus, investors end up receiving healthy returns between eight and 10 per cent p.a.
Quality homes and wellplanned projects are available at reasonable prices. And with RERA, buyers have access to all the key information about projects, legislative protection and delivery date. Most importantly, investment in second homes also results in fair returns, which is actually sustainable, as it is on the back of an actual demand.

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Source: Times Of India

A fabulous investment in Goa that can double up as your second home as well. Check You Expat Vida Phase 2.

Friday, 27 April 2018

The Making of Panaji

Still one of the better cities in India, also chosen to be developed as a smart city, Panaji’s history isn’t just to do with fine Indo-Portuguese architecture, but is also about being a strategic location, that also saw law and administration being optimised along with trade and rapid urbanisation.
NT NETWORK traces the history and roots of how Panaji attained the glory of being Goa’s capital

Danuska Da Gama | NT NETWORK

Panaji is ever changing. It has been evolving ever since it was first invaded by Kadambas, Bahmanis and then during the Portuguese regime, and continues to witness changes- physically, politically, even culturally. About the history of its name, an inscription of the Kadamba King Vijayaditya I, dated February 7, 1107 refers to Panajim as Pahajani Khali. The other version is that Panji or Ponji means the ‘land that never gets flooded’, while the third version is that it is a variation of Pancha Yma Afsumgary or the five castles where the Muslim King Ismail Adil Shah and his wives used to live. “Panji was a fisherman’s cove also dotted with a few temples like Ravalnath. During the Adilshahi era around 1498 King Yusuf Adilshah built a palace fortress on the Mandovi banks around circa 1500,” says historian Prajal Sakhardande

The name was later changed to Panjim by the Portuguese and when Old Goa collapsed in the 19th century, and it was given the status of a city in March 1843 and was renamed ‘Nova Goa’.

The Early Years:Trade In Panaji

We have not heard much about the city in the period prior to 1500, but sources tell us of a time when a Greek ship with Buddhist monks on board is said to have touched Panaji and sank. A Roman mooring stone at St Ines tells us of Roman trade voyages too. Historian, former director of Education, Government of Goa and author of seven books including two on Panaji – Anatomy of a Colonial Capital: Panjim (2016) and Colonial Panjim: Its Governance, Its People (2017) – Celsa Pinto says: “These instances perhaps indicate that for more than a thousand years Panaji served as a trading centre and that its history should not just be traced to the coming of the Muslims of Bijapur or of the Portuguese.”

In the eleventh century Panaji was a part of the Kadamba Empire. “Drawn to the serene waters of the River Mandovi, Adil Shah chose to erect a summer palace at Panji, despite the fact that the latter was then a humble settlement, a fishing locality and a ward of Taleigão. In 1500 the island-palace became a place for the Adil Shah and his retinue to relax and beat the summer heat. The cool and calm waters of the Mandovi made life pleasant,” says Pinto.

After the conquest by the Portuguese in 1510, Panaji was selected as an important military station, where all the ships that arrived at Goa were thoroughly inspected and had to compulsorily obtain licences. As the River Mandovi was narrow, they could not escape this.

Panaji came to be the place of embarkation for troops or for fitting out expeditions to other parts of the East. “The city and its environs also served as a seasonal and temporary residence for the viceroys/governors on their arrival and departure to Portugal. It was customary for the viceroy arriving from Portugal prior to his solemn entry and taking charge at the capital Cidade de Goa (Old Goa) to wait at the palace in Panaji, for never would two viceroys remain at the same time in the City of Goa,” narrates Pinto.

During the first forty years of Christianisation, the Portuguese set up three main religious structures in the area of Taleigão. From a hermitage set up on Conceição Hill (1541), arose the present church Igreja da Nossa Senhora da Conceição in 1600. In Taleigão its Church was constructed in 1544. At St Ines a hermitage was built in 1584 which was raised to the status of a church in 1605. It was at this stage that Panaji and St Ines were detached and formed separate parishes.

The fort of Gaspar Dias was constructed in 1598. Marques de Pombal had ordered for its demoli. Instead, years later, it was expanded and utilised as a military barracks and still later in 1835 was the location for one of the bloodiest episodes in the history of Goa.

Pinto points out that in the seventeenth century Panaji was still dominated by fishermen and poor citizens. In 1635 it has been recorded that Panaji had 50 houses (ground and first floor) some quite large and fine, belonging to the Portuguese and others who made it their base or abode with orchards and coconut groves as a source of income. “Thus manorial estate houses built by the fidalgos dotted Panjim’s horizon. Well-known travellers of the seventeenth century Pietro Della Valle and Pyrard testify to this,” she says.

The shift: Old Goa to Panaji

Speaking about how Panaji was chosen as the capital city by the Portuguese Pinto tells us: “Years were spent in the seventeenth century deliberating upon the transfer of the capital Cidade de Goa to the safe and healthy port of Mormugão. But a deliberate effort was made in this regard in the 1680s by Viceroy Conde de Alvor citing reasons for the urgent need to shift because the existing capital was not well-fortified for hostile attack. It had narrowly escaped falling into the hands of Sambhaji in 1683 and that that the city was struck by pestilence and was unhealthy for its inhabitants.”

While the next choice was Mormugao that besides being a natural harbor, it was far off from mainland attack, the work on the project was in progress for years together. The only viceroy to shift there, albeit for a few four months was Caetano de Mello e Castro in 1708. By an order issued in 1712, the project of the transfer was given up.

Again the thought of shifting the capital came up in 1739 when Marathas attacked Goa. Ultimately it shifted to Panaji in 1759.

Pinto says, “It is clear to us that the Portuguese authorities were by 1759 certain that Panaji alone could provide them the basis of their future seat of administration and new capital. Panjim occupied a strategic location with a river front and a beach which had scope for land expansion and use. There was scope for a road network that would help connectivity. Besides, the surrounding villages were capable of taking the urban spread.”

Panaji acted as a shield for a port which provided both a safe anchorage and a physical barrier to any aggressor from the Indian mainland. “Also since in 1632-34 Portuguese built the causeway linking Old Goa with Panaji, it was a preferred choice to shift base,” explains Sakhardande.

Panaji was the unofficial capital for about 84 years (1759 – 1843). While the earliest urban plan for the city was drawn up in 1776, transformation in its true sense can only be traced to the viceroyalty of Dom Manoel de Portugal e Castro (1825 – 1835) to whom we owe the St Ines Creek and five bridges including Ponte Minerva and Ponte de Portugal, the lovely place of recreation that is today’s Campal, Fountain of Boca de Vacca, the Customs House, the Public Jail (now the Military Hospital) and above all, the massive Quartel Militar.

From around 1780 settlements grew at the fort of the Conceição Hill. “It needs to be noted that around 200 houses could be seen in Panaji by the first quarter of the nineteenth century, residences of the well-to-do, the public servants and the poor,” says Pinto.

It is a landmark structure right in the centre of the city- the largest building housing the Police Headquarters, the Collector’s Office, the Old Central Library, Institute Menezes Bragança and other governmental offices.

Sakhardande points out that there was a steady rise and growth in Panaji, 1760 onwards when palaces such as the Maquineze, Fazenda and then Escola Medica came up, followed by the beautification of Panaji at Campal, rise of Fontainhas and the Mahalaxmi temple which was built in 1819.

Rise of the capital: Early urban infrastructure

From 1759, Palacio de Pangim was the heart of the city and became the symbol of Portuguese authority. It was from this citadel that the Portuguese ruled over Goa for over 200 years. It was an integral part of the story and growth of Panaji as a capital city. Together with the area around, it formed Zona Central (Central Zone).

Pinto highlights that originally this area was characterised by just two structures, the Palace and the Conceição Church, but the scenario was different with the transference of the seat of Government to Panaji. One was able to witness the gradual emergence of a row of public and private buildings along the main road. In the second and third decades of the nineteenth century, we see the shift of governmental offices like the Customs House (1811), the Accounts House and the High Court (1818). For these purposes, edifices were either acquired or taken on lease. For instance, the High Court or Relação de Goa was installed in the house of João Baptista Goethals. Likewise the Junta da Fazenda building was purchased from Vitorino da Cunha Gusmão.

These makeshift arrangements continued even after the 1820s. A little away from the Contadoria Geral or the Fazenda, one found the jail. Still further one found the Estanco de Tabaco (today’s Head Post Office) and the Mint House (Casa da Moeda) which was shifted from Panelim in 1832 to the house of João Baptista Goethals.

Pinto says that the houses and properties of the two leading and rival merchants of Goa of the early nineteenth century, Mhamai Camotins and João Baptista Goethals, located in strategic points near the Palace, were initially a preferred choice for governmental offices.

In 1842 the Hospital Militar was shifted from Panelim to Panaji and installed in the houses of Diogo da Costa de Ataide e Tieve (Conde de Maquinez). The residence of the Archbishop was transferred to St Ines in the palace belonging to Canon Francisco da Cunha Souto Maior. During 1844 – 49 the Archbishop Dom José da Silva Torres resided in a house of J B Goethals.

“Cidade de Nova Goa was formally declared as the second capital of Portuguese India, comprising of three zones – Pangim (Panjim), Ribandar and Velha Goa (Old Goa), in March 1843. The Portuguese did not want to let go of Cidade de Goa which once upon a time brought them international fame and glory,” explains Celsa who goes on to say that the story of the making of the capital is one of land acquisition, landfill and land use. “On March 22, 1843 Portugal’s reigning Queen Dona Maria II officially declared Panaji as the Capital of Portuguese Goa with the nomenclature Panaji,” states Sakhardande.

The core works began between 1875 and 1885 with the Corte de Oiteiro, the landfill and embankment along the River Mandovi and the Fontainhas and St Ines Creeks, the construction of municipal structures like the market, slaughter house and St Ines cemetery. The filling of pools, swamps and marshes in Central Zone, with mud from the cutting of Conceição Hill and the levelling of palm groves, gave rise to a network of roads, named in 1903, that we still see in the city with minor changes. This gave rise to land use, to set up of public and residential structures. Land sale for housing first began in Fontainhas in the 1880s while urban infrastructure like drainage system, water supply, electricity, street lighting, arborisation, etc, were all part of the physical growth and development of the capital city.

While Pinto states that stop gap arrangements might have continued for a large part of the nineteenth century, the steps towards new constructions can be attributed to the tenure of Viceroy Dom Manoel de Portugal e Castro.

The capital was built in just 130 years from the times of Dom Manoel de Porgual e Castro to 1961. “The locality until the early nineteenth century was viewed by many a chronicler and foreign traveller as a humble and unhealthy ward of Taleigão. From a fishing village and an occasional docking area prior to 1759, from a land full of palm groves – Palmar Ponte, Palmar Japão, Palmar Miguel José, Palmar Arecal, Palmar Maquinez, Palmar Gaspar Dias and marshlands, during the nineteenth century, there emerged the capital city Nova Goa – quite phenomenal and transformational,” says Pinto.

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Source: The Navhind Times
Awesome apartments in Goa:  
RERA Approval: PRGO04180244

Friday, 20 April 2018

The Curious Case of Interest Rates

In the midst of fluctuating interest rates and the possible hike in them, here is a guide on how to stay on top.

 Are you prepared for a possible rise in home loan interest rate?

Interest rate fluctuation keeps home-buyers on their toes. While prospective buyers look for chances of a rate cut to lock the deal, existing buyers focus on the EMIs and chances of an increase in the interest rate. At present, the home loan interest rate is around 8.3 per cent, but the situation may change anytime, and the rate may start going up if the economic indicators become unfavourable. The US Federal Reserve has already indicated that they will increase the interest rate in 2018, which could lead to a hike in interest rate in the Indian economy. Earlier, SBI was charging an interest rate at 8.3 per cent to 8.7 per cent p.a., but recently it has revised the rate to 8.35 per cent to 8.8 per cent p.a, an increase in rate by upto .10 per cent. This is just an indication and soon other banks may follow the course.

“We believe that we are inching towards an interest rate hike. Interest rates have been static for a while now. However, an increase in global rates and domestic consumer price inflation might force the RBI to reconsider its neutral stance and hike interest rates in the near future. We, however, believe that the hike will be marginal, around 25-50 bps,” says Sunil Agarwal, associate dean and director, School of Real Estate, RICS School of Built Environment, Amity University.

If currently a home-buyer is paying an EMI of Rs 42,760 for a loan of Rs 50 lakh with 8.3 per cent interest and tenure of 20 years, then an increase in interest by .1 per cent i.e. at 8.4 per cent rate, he would be required to pay an EMI of Rs 43,075 i.e. an increase of Rs 315 per month and a total increase of Rs 75,574 in the entire repayment period.

Read More:
Source: Times of India

Monday, 19 March 2018

Zaha Hadid Architects to design Navi Mumbai international airport.

The firm, which bagged the contract from Navi Mumbai International Airport Limited (NMIAL) after a 12-week design competition, will design the new airport's Terminal 1 and air traffic control (ATC) tower.

British architecture firm Zaha Hadid Architects (ZHA) has secured the mandate to design the much-delayed Navi Mumbai international airport, being developed by the GVK group-led NMIAL. The firm, which bagged the contract from Navi Mumbai International Airport Limited (NMIAL) after a 12-week design competition, will design the new airport’s Terminal 1 and air traffic control (ATC) tower, according to a statement on Wednesday.

This will be Zaha Hadid’s first major project in the Indian sub-continent. The work on the Rs 16,700-crore Navi Mumbai international airport kick-started last month with Prime Minister Narendra Modi laying the foundation stone for the first phase of the project on February 18, after more than two decades of its being conceived.

Planned in 1997 as a secondary airport to meet the growing needs of Mumbai, the project was inordinately delayed due to a myriad of factors, including political indecision, issues of environmental clearances and the funding. “We are committed towards bringing the best global practices from the industry to design, engineer and build this most awaited (Navi Mumbai) airport project in India.

“Therefore, we decided to go with ZHA, a firm known for its path-breaking and remarkable architecture. It also has the expertise of delivering a world-class airport design through a highly professional team,” said GVK Reddy, founder and chairman, GVK and chairman NMIAL. The first phase of the Navi Mumbai airport is likely to be completed by the end of 2019, with one runway and the terminal building ready, and will handle up to 10 million passengers per annum.

The second phase, to be completed by 2022, will take the handling capacity to 25 million passengers. The third phase will be completed by 2027, and at the completion of the fourth phase by 2031, the handling capacity will increase to 60 million passengers. Established in 1979, ZHA has a portfolio of over 950 projects spread across 44 countries.

It has designed Beijing’s under-construction Daxing airport terminal, spread over 700,000 square meter, besides designing Olympic Aquatics Centre in London, the Al Wakrah Stadium in Qatar for the 2022 Football World Cup, the Guangzhou Opera House in China and the MAXXI Contemporary Arts Centre in Rome, among others.

The City Industrial Development Corporation (Cidco), which is developing the new airport along with GVK Group, expects the first flight to take off in 2019. The GVK group, which will invest nearly Rs 4,000 crore in the first phase, will hold 74 per cent stake in the project, with the rest being held by the Cidco and the Airports Authority of India.

Now this is News!

The eye-catching architectural style of the late Zaha Hadid continues to make waves across the world.

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Source: Indian Express

Wednesday, 14 March 2018

Real estate sales in India remained strong in last two years: Report

A recent report by JLL India, an international real estate consultancy firm, pointed out that sales for residential properties have remained strong, quarter after quarter. Whilst cumulative new launches across top seven cities of India in the last 2 years (2016 & 17) was recorded at 2,33,387 units, sales of residential units in the same time was recorded at 2,44,830 units indicating that more apartment units were sold.

In the last 8 quarters, the sales velocity has seen a steady upward trend on account of pent-up end user demand that uplifted the market, as soon as a stable trend in the residential capital prices was observed.

Overall unit sales outstripped the number of launched units by 5% in the period of consideration, except second half of 2017 when a large number of new units were launched. These projects launched in the second half of 2017 are witnessing good off take, which will reflect in good sales figures when the Jan- March 18 quarter ends. The fresh supply in residential in latter part of 2017 was largely on account of the lag effects of the RERA implementation, which was adopted by most states during the same period.

The market dynamics of demand and supply periodically outstripping one another, has led to a continued stability in the capital values. Ramesh Nair, CEO and Country head, JLL India, said, said “This is a good time for end users, investors and fence sitters to consider their entry into the residential market, given that prices have been stable for a sustained period.

 With lending rates from banks having significantly reduced since 2015 and at decade low, the situation provides residential buyers a most opportune moment to purchase properties as well as easily service their EMIs.”

The last quarter of 2017 saw a surge in new launches on account of the stabilizing of RERA mechanism across the country. The scale of new launches is also an indication of the confidence that the market has for the future potential demand. It also indicates the strengthening of the transparency, governance and compliance standards aligned to by the developers. Certainly, a good and controlled ecosystem to operate in, both from a developer and buyer perspective.

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Source: DNA India

Thursday, 1 March 2018

Tier 2 And Tier 3 Cities Stage Their Real Estate Comeback In India

After a protracted period where interest for real estate investment was concentrated primarily in the larger cities, we are now seeing a resurgence of the Tier 2/Tier 3 cities story in India.

Many of these cities are seeing increasing economic activity and infrastructure growth, to some extent reducing the outward migration to the metros.

This is a welcome dynamic which will eventually result in a more uniform spread of real estate demand across the country, and reduce the pressure on the larger cities.

What lies beneath
The ticket sizes for residential properties in tier 2 and tier 3 cities and towns start from a significantly lower base, owing to cheaper land prices and also the fact that developers active there are more aligned with affordability.

Buyers tend to be more cost-sensitive as economic drivers in the city may not be on par with those in the larger cities. Also, under the incumbent Government, many of these cities are now seeing significant infrastructure deployment. Quite a few have come under the Smart Cities program, which bodes very well for their real estate markets.

With increasing demand, one can expect prices in these cities and towns to assume a gradual upward trajectory. Price growth will be higher and faster in cities coming under the Smart Cities program.

This would indicate those intending buyers should not delay their purchase decisions indefinitely, since the lower existing base currently provides the ideal entry point, especially for price-sensitive buyers.

Whether a smaller city offers good options for investment depends on what economic drivers are already in place and which are expected in the short-to-mid-term. Definitely, accelerated infrastructure activity in a particular city or town indicates that price growth will be healthy going forward.

Investors need to study each market for its growth prospects, including rental demand and capital appreciation trends as well as expected employment growth. A number of larger players have now expanded into tier 2 and tier 3 cities on the back of increasing demand for quality residential offerings there.

Investors’ approach
Investors will always be driven by investment rationale, as well as their own knowledge and preference of some markets over others. Investors with better capitalization may wish to focus on the larger cities, depending on their risk appetite, while others would be more interested in India’s reviving tier 2/3 story.

Not all tier 2 and tier 3 cities are performing uniformly well, though it is true that supply will generally follow demand. In other words, cities which are performing well economically will attract more migrant population which will need rental housing.

Simultaneously, local home buyer sentiment will also be higher in such a city. Both investors and end-users would have a very decent inventory to choose from, which enables them to fine-tune their final choices according to location, amenities and ticket sizes.

At the end of the day, end-users will purchase homes in their cities of residence – or, in the case, of NRIs, in their cities of origin. Investors obviously have a much larger playing field

Listed below are a few smaller cities where residential property prices are significantly lower than in the top cities. These cities also hold considerable growth potential due to their key growth drivers:

Ahmedabad: Demand drivers– Massive presence of home-grown firms and businesses, favourable business ecosystem. Average residential real estate prices: INR 3,500 – 4,900/sqft
Indore:Demand drivers – Government support, good IT policy leading to the growth of the IT/ITeS industry. Average residential real estate prices: INR 2,500 – 3,800/sqft
Coimbatore: Demand drivers– Significant talent pool, enterprising community. Average residential real estate prices: INR 3,200 – 5,000/sqft
Chandigarh: Demand drivers – High literacy rate, favourable business environment. Average residential real estate prices: INR 5,000 – 7,000/sqft
Jaipur: Demand drivers– A key IT/ITeS destination, a planned city. Average residential real estate prices: INR 3,000 – 4,000/sqft
Kochi:Demand drivers – Good talent pool, favourable business environment, massive NRI investments. Average residential real estate prices: INR 3,500 – 4,800/sqft

Anuj Puri

Tuesday, 27 February 2018

Guide to smart banking: Know your home loan: It’s your life’s biggest financial decision

It is perhaps the single most important purchase that anyone makes in their lifetime, and the realisation of a dream. But owning a home is also, in a sense, a basic necessity. Securing a home loan, therefore, is one of the most important personal finance decisions an individual will make.

Today, home loan tenures vary from 10 to 30 years depending on the borrower’s age and the loan amount. Home buyers now have the option of going in for home finance from banks and financial institutions that not only help them with the best finance options based on their individual eligibility but also help them in the entire process of owning a home.

With so many incentives, more and more Indians are confidently embarking on the journey that leads to their dream home. In view of this renewed vigour among consumers, various Housing Finance Companies (HFCs) have enhanced their customer support programmes to encourage prospective home buyers to avail themselves of home loans. However, it is imperative from the borrower’s perspective to understand various aspects of home loans.

The right loan for you

There are an assortment of home loan schemes available in the market. Since a home loan is probably the biggest financial commitment you’ll take on, you will need to take the time and read through the fine print carefully before signing on the dotted line. A few of the options that individuals can go in for are: loans for purchase of ready property; loans for purchase of under-construction property; loans for self-construction; loans for purchase of plot; loans for renovation/extension of existing property; loans against existing property, and so on.

Based on the income criteria, some borrowers may qualify for the Pradhan Mantri Awas Yojana (PMAY), where an individual can avail of a credit-linked subsidy of up to ₹2.67 lakh, depending on eligibility. Borrowers can avail of benefits under this scheme for purchase/construction/extension/ improvement of their home.

But while negotiating the paperwork maze, you will need to get acquainted with a few technical terms and a few operational details.

Some of the critical ones are:

Loan-to-value ratio
Loan-to-value defines the ratio of a loan to the value of an asset purchased. Earlier the LTV was 80 per cent of the value, but now it has been increased to 90 per cent of the home loan value for properties up to ₹30 lakh.

Equated Monthly Instalment
One of the most critical factors that influences a home loan decision from the borrower’s perspective is the EMI, which is the monthly outflow of money that will go towards repaying the home loan. As a golden rule, never let your EMI exceed 40-45 per cent of your net monthly income. Also, note that there are no prepayment charges or penalties levied if the customer prepays his/her home loan.

The interest rate
Home loans typically come with two types of interest rates — fixed and floating. Under a fixed-rate arrangement, the interest rate on your home loan remains constant for a period of 3-5 years (depending on the scheme offered by the financial institution) or, in certain cases, for the full tenure of the loan. Under a floating interest rate regime, the interest rate on your home loan varies depending on the movement of cost of funds for the financial institution.

The rate on your home loan may increase or decrease in line with the trend in the cost of funds. A fixed rate will typically be higher than a floating rate; you should opt for a fixed-rate regime with caution, keeping in mind your judgment of the interest rate scenario. There are also options to switch between a fixed and floating rate of interest at anytime during your tenure of your loan.

A borrower’s credit score is a critical consideration for a financial institution while making an assessment of the individual’s home loan eligibility and the interest rate component. The credit score of an individual defines the credit-worthiness of the person and is one of the key determining factors for the approval of a home loan. While a good credit score is one of the most critical factors for the lender to ascertain home loan eligibility, it is not the only criteria. Banks and financial institutions prefer to lend to borrowers with a credit score higher than 750 since it reflects stronger credit-worthiness.

Over the years, securing a home loan has become a hassle-free procedure, with financial institutions increasingly focussing on providing the best deal to the customer. Affordable housing has emerged as a priority focus area for the government as well, which has been steadily laying out supportive measures and building a conducive environment with new and innovative policy measures to enable home ownership. With the expanding industry landscape, both new and existing home buyers have ample home loan options to choose from. They should embrace it at the earliest to make their home ownership dream a reality.

The writer is Joint Managing Director and CEO, DHFL

Read More:

Source: The Hindu Businessline