There are lot of legal formalities involved when it comes to buying a home. As a buyer you need to be very careful and should carry a good insight about the legal terms about real estate. The most part of buying a new home is investing time on understanding different legal documents and their meaning. There are different legal real estate documents, having information of each is very information. Whether you are buying a flat built by top developer Nirmal or any new developer, it is important to have good knowledge about documents.
This article presents you with such legal documents and explanation of the same: Land possession certificate: The Land Possession Certificate (LPC) is an important document required before shifting to flat. This land certificate cannot be received without having the Building Completion Certificate. Building Completion Certificate: Once the building construction is completed, the developer can apply for Building Completion Certificate. If the construction is completed as per the rules set by authorities, then building completion certificate is issued. Once this certificate is issued, then builder can issue possession of the flat owners. Partial Occupancy Certificate: Developer issues partial completion certificate but it has the validity of 6 months. During the construction, when the building gets completed with blocks under different dates, the developer can issue partial completion certificate. Similarly, when whole building is completed, completion certificate is obtained. As a buyer, it is important to get partial occupancy certificate from the developer. With having completion certificate, the buyer can get tax benefit on home loan. As a buyer, it becomes highly important to understand how essential these documents are. When you hunt for the apartment, it is important to consult with the real estate agent to understand about these documents. It becomes essential when you are all set with the documents when you invest on apartment.
0 Comments
Planning to buy home in Mumbai city? Already listed Nirmal Lifestyle project for your investment in apartment? But have you considered about property tax? Property tax is an important part of buying new home. Every city has different property tax paying method, and so has in Mumbai. Property tax is a recurring charge that the home owner has to pay every year. However, the amount may vary according to the location. For instance, if you are residing in Nirmal Lifestyle project in Mulund, the property tax would be high. But if you are residing in Kalyan, the property tax would be quite less.
In Mumbai, the residents have to pay the property tax to Brihanmumbai Municipal Corporation (BMC). To pay the property tax, one has to understand the process, what and how to much to pay. In the year 2017, BMC had passed the law to exempt property tax on houses having carpet area up to 500 sq.ft. Moreover, 60 percent concession is also provided to houses measuring 500-700 sq. ft. Calculating Property Tax in Mumbai: In Mumbai, the property tax is calculated on the basis of capital value of the property. It also depends on stamp duty, which is every year revised. The BMC uses Capital Value System which is based on the market value of the property. Market Value of the property x Total Carpet Area x Construction weight type x weight for age of the building, are three things considered. Here, the market value of the property is calculated using Read Reckoner (RR). It is a set of fair value prices. Weights for construction type:
It is important that you check out the exact method how property tax is paid. Connecting with the BMC official or real estate agent will be helpful. To pay the property tax, you don't need to visit the office, as it can be done online itself-
Since there are societies in every building, the members of the set committee in the society can pay the property tax. With the advent of industrialization and urbanization the trend of living in apartments has been the talk of the town. Apartments not only solve the problem of providing appropriate accommodation to the growing population but also come with a number of advantages.
Let us have a look at the benefits of staying in apartment complex.
Nirmal lifestyle believes in designs that are unique and has a proper blend of science and arts. They specialize in Building uniquely designed homes. Nirmal lifestyles have successfully completed many projects in Mumbai. When you plan to buy or sell your home, there are multiple things to consider that makes the purchase effective. Value of the home can be effectively increased with some improvement and other aspects. The value of the home doesn’t not only increases due to developers name or location, but also the interior of the home. Nirmal Lifestyle has come up with some tips to increase the value of your house.
Let’s have a look on the below mentioned points: 1. Overall Interior: The overall interior of the home and the design matters the most. From furniture set-up to wall painting and lights, every point of the home must be maintained well. Be creative in terms of wall design and space maintenance. Don't waste any space, rather use it creatively. From your front door to kitchen, everything matters. 2. Creativity in Lighting: The lighting of interior plays a major role. Having a proper light is important to create mood and atmosphere. Install high-wattage bulbs and add soft lighting in some areas to make the area feel large. If you have a work space, then add some good lights to make it look appealing. 3. High-Quality Carpet: Placing a carpet on the living room floor is a common scene. There are different types of floor carpets with different designs and quality which you can select and place. Also maintaining it properly to avoid any stains remain over it will increase the value of your home. 4. Be Modern and De-cluttered: Even if your home is spacious and the entire complex is luxury, then it won't matter if your home interior look sucks. De-cluttered home never increases the home value that can effect when you try to sell it. From kitchen cabinet to wall paintings and furniture, everything matter when a buyer visits your home to inspect before purchase. It is always advised that your home should be maintained perfectly with fine-tuned. This certainly helps to increase the value of the home. Nirmal Lifestyle believes in design which are unique hand has a proper blend of science and art. They specialize in Building uniquely designed homes. Nirmal Lifestyles have successful completed & delivered many projects in Mumbai Planning to recreate your home interior with new theme or colour that can make the environment calm? Then you cannot miss reading this article. In this fast paced life, we need a space which offers calmness and peace of mind. After spending 10hours a day in the office, we look for calm environment after coming back home. A cluttered space will certainly won't give you the required that peace of mind. Changing the interior of space depends on the apartment design and overall environment around. If you are living in an area which is away from the city madness and the complex is well-developed then it will certainly add up to the peace. So, if you are planning to buy a flat in the project built by Nirmal Lifestyle, then you will enjoy a great environment and spacious area.
Let us now check how you can recreate your home space with peaceful decor:
Buying in a home in the most influential and rich city of India, Mumbai is everyone's dream. However, in reality, it is an easy investment like can be done in other metro cities. The rising price of the Mumbai real estate has made it difficult to buy a home in the expensive city. However, not everyone is eager to spend on luxury apartment. Affordable housing segments are great investment. Projects with smaller configuration and outskirts of Mumbai are major attraction. Moreover, with the implementation of RERA and other acts by the government, has made affordable home buying handy.
If you are looking to purchase affordable homes, then here are few hacks to consider:
Located 32 km away from Mumbai towards the north east, Mulund West is known as the prince of suburbs. Mulund is located at the junction of Navi Mumbai and Thane. It is one of the earliest planned localities present in Mumbai. Mulund is divided into Mulund East and Mulund West, which is a quiet and serene locality and has the Sanjay Gandhi National Park in its eastern side.
Let’s look at the accessibility and Education sides of Mulund West.
The area is home to some of the best schools in the city. Some of the schools and colleges are:
Thus beings accessible from all sides by rail and road and metro, Mulund West is a fantastic destination to stay, live and work in. Moreover children have enough options to pursue their higher education as there are many prestigious education institutions in the area. ABOUT NIRMAL LIFESTYLE As a leading property developer Nirmal Lifestyle is synonymous with quality and credibility. It is known as the front ranking property developer in Mumbai. Nirmal Lifestyle has constructed over 50 lack square feet of residential and commercial spaces and is on the verge of developing over 10 million square feet in the years to come. With its efforts in promoting Mulund it has excelled so well that today Mulund has come to be known as the Prince of Suburbs. It the hard work and dedication coupled with a fantastic vision which has helped Nirmal create a fantastic real estate scenario in Mulund. Nirmal lifestyle has a diverse Range of properties for buyers with various needs and budgets. It has tried to instill a small town feel in Muland, away from the hustle and bustle of Mumbai and has maintained a good balance between nature and infrastructure. The Elphinstone Road station tragedy has prompted the Shiv Sena to propose a railway station between Mulund and Thane, one of the most congested stretches on the Mumbai suburban rail network.
Chief Minister Devendra Fadnavis in October 17, held a third meeting with Maharashtra State Road Development Corporation (MSRDC) Minister Eknath Shinde to chalk out the modalities. The new station is likely to cost ₹150 crore and once complete, officials said, it will make commute smoother for nearly seven lakh passengers daily. Mr. Shinde said “We have received a positive response from the Chief Minister. We want people coming from far-flung areas such as Vartak Nagar, Wagle Estate, and Ghodbandar to get maximum benefits. Besides, they will be able to skip commuting via Thane city and directly proceed towards these areas if a station comes up just after Mulund,” The station near Mulund will come up on an 18-acre land, which is owned by the Revenue department. Mr. Shinde said parts of the land are reserved for a hospital, but suitable changes will be made to make way for the station. “The new station will ensure passengers do not have to hang outside the trains during peak hours.” Revenue department officials said they are coordinating with the Health department to mark the land for the station. “We have some encroachments, so the government will have to ensure rehabilitation of the displaced,” they said. Meanwhile, Mr. Shinde led a delegation of Sena ministers to put forward demands on commuter safety before the Chief Minister. The delegation demanded that hawkers be removed and foot overbridges and bridges be widened. Moreover this station will also increase the property rates in Mulund which is good news for the residents and investors. Source: The Hindu ABOUT NIRMAL LIFESTYLE As a leading property developer Nirmal Lifestyle is synonymous with quality and credibility. It is known as the front ranking property developer in Mumbai. Nirmal Lifestyle has constructed over 50 lack square feet of residential and commercial spaces and is on the verge of developing over 10 million square feet in the years to come. With its efforts in promoting Mulund it has excelled so well that today Mulund has come to be known as the Prince of Suburbs. It the hard work and dedication coupled with a fantastic vision which has helped Nirmal create a fantastic real estate scenario in Mulund. Nirmal lifestyle has a diverse Range of properties for buyers with various needs and budgets. It has tried to instill a small town feel in Muland, away from the hustle and bustle of Mumbai and has maintained a good balance between nature and infrastructure. As a leading property developer Nirmal Lifestyle is synonymous with quality and credibility. It is known as the front ranking property developer in Mumbai.
With its efforts in promoting Mulund it has excelled so well that today Mulund has come to be known as the Prince of Suburbs. It the hard work and dedication coupled with a fantastic vision which has helped Nirmal create a fantastic real estate scenario in Mulund Now the question, why should you invest in a flat in Mulund:
Although there is a national real estate slowdown, things are getting better and projects are moving faster and this makes Mulund a top destination to invest in for growth and appreciation
Overall Mulund seems to be a great destination to live and invest in. Mulund surely is on the path of glory and greatness and you should take part in its evolutionary journey and success story. Owning a luxury home in the quaint location is every home owners dream. However, in the city like Mumbai, investing in an apartment is a big thing. Although real estate developers are coming up with new projects, the prices of these apartments aren't under the budget. Hence, home buyers find it hard to invest. Fortunately, Nirmal Lifestyle, one of the reputed real estate companies has come up with its new residential project named Nirmal Lifestyle Olympia in Mulund. With already having number of residential and commercial projects in Mulund, company with its new project want to offer its buyers to elevate their lifestyle. Nirmal Olympia is one of its kinds of real estate project with number of modern amenities and spacious area.
About the Project: Nirmal Olympia in Mulund West, Mumbai is beautifully designed apartment project. Designed by the famous Hafeez Contractor, there are 1, 2 and 3 BHK apartments and the total of 1164 units. There are total 2 towers with 51 floors each and the project is spread over 0.44 acres. Each apartment is built with perfection to meet the need of new age home buyers who look for spacious area, modern amenities and location which is away from city hustle-bustle. This has certainly created Nirmal Olympia Reviews positive, giving more reasons to invest. The entire project is vaastu complaint. Some of the highlight amenities of Nirmal Olympia are - InterCom, Club House, Children's Play Area, 24/7 security and others. The entire project is finely constructed with the use of strong materials. About Nirmal Lifestyle: Nirmal Lifestyle was established in the year 1975 with the aim of transforming the lives of home buyers and offering them with luxury homes under budget price. The real estate company has transformed city face by building residential, commercial, retail and hospitality projects. From Mulund to Kalyan, Nirmal Lifestyle has many completed and on-going projects in these regions. The company continues to come up with innovative and eco-friendly projects in future too |