Buying a house is like completing a huge responsibility and if it comes as smooth as it can then, it is cherry on the top of the ice-cream. Every step you move into buying a house, you feel the heat and keeps you awake at night. But when you are armed with all the information and document and you are aware of the basic real estate terms, then you can land up in the safe zone.
DOCUMENTS NEEDED TO BUY A FLAT
Builders may promote flats without getting approvals and may get the approval in due course. Check whether he has got all the approvals.
1 TITLE DEED, MOTHER DEEDS OR PARENT DOCUMENT:
Get this document and check it for his right to sell the property. If he has any minor children, or if is an ancestral property then you may face problem in the future. He should have a No objection certificate to sell the property on behalf of the minors.
2 GOVERNMENT APPROVED PLAN:
Make sure that the builder has got the approval for building the flat. If he has started the constructions then make sure that the approval building layout is same and there is no deviation in the house or flats. If there is deviation then it will create problems in the future
3 PROPERTY TAX RECEIPTS:
Get the copy of the property tax paid by the owner. If it is ambiguous, then enquire this issue with the corporation office or the municipal office. The property tax should be updated till date and for at least 10 years.
4 SALE AGREEMENTS:
Get the sale agreement between yourself and builder
5 COMMENCEMENT CERTIFICATE:
Usually given by the municipal or corporation authority for the commencement of the construction of the property; it is mandatory for builder to have one, if not, it is illegal.
6 NO ENCUMBRANCE CERTIFICATE:
It is a certificate to make sure that the property which he is going to sell you as a flat is not mortgaged for loan.
7 COMPLETION CERTIFICATE:
It is document given by the municipality or corporation to make sure that the construction is complete and without any deviation.
8 OCCUPATION CERTIFICATE:
It is issued by the municipal and corporation that you have legal electricity connections, water supply and sewage connections for you flat.
9 NO OBJECTION CERTIFICATE: by the land owner for change in electricity bill
Remember for getting loan from the bank you have to produce another set of document. These are:
Main applicant
1 Two passport size photograph, PAN card and employee ID
2 Residential proof address: Ration card, Adhaar card, voter ID
3 Last four months salary slip. Some banks ask for 6 months salary slip
4 Appointment letter from the present organisation and relieving order if your present employment is less those 3 years
5 Form 16 for last two years
6 Bank statements for past 6 months
7 One cheque from salary account as processing fee
Co-Applicant:
Two passport size photo and PAN card details
DOCUMENTS NEEDED FOR BUYING A PLOT
Planning to buy a plot to build a house of your choice is a good idea. The documents that are needed are
1 Mother document
2 Sale deed
3 Encumbrance certificate
4 Tax receipt tax paid by the owner of the land
5 Plan layout and
6 Sale agreements between you and the seller
Hope this blog helps you and do share with us your suggestions
The Chennai Corporation is all out to tackle one of the city’s chronic irritants — traffic jams.
On Friday, the Corporation, at its council meeting, passed a resolution for a study to analyse various means through which clogging on the city’s roads can be reduced.
An array of traffic control solutions such as congestion pricing, a bus rapid transit system, public bicycle-sharing and inter-modal integration may soon be implemented, based on models in China and Singapore.
A team of seven Corporation engineers will visit Guangzhou, Shenzhen, Hong Kong and Singapore to study traffic solutions adopted in these cities.
The engineers are: R. Jayaraman, D. Rajasekhar, S. Rajendran, S. Sudhakar, A.S. Murugan, R. Manoharan and R. Srinivasan.
The study, which will cost Rs. 20 lakh, is expected to produce practical solutions, which will then be implemented to ensure traffic management in the city is on par with other international metropolises.
The engineers will be assisted by the Institute for Transportation and Development Policy as well as a few other non-governmental organisations.
Many of the 354 km of bus routes and 5,563 km of interior roads are likely to be covered under the new proposal, which will primarily involve congestion pricing.
Congestion pricing involves a surcharge for users of transport when the system is in excessive demand, such as during peak hours.
It could involve charges for those using private vehicles on crowded roads and is aimed at reducing the number of vehicles on such roads in order to ease congestion.
“Congestion pricing models have been successful in cities such as Singapore and London. While Singapore has electronic road pricing, Hong Kong has a very good inter-modal transport integration system. Every city has various options, and all of them are trying them in various degrees,” said Raj Cherubal of CitiConnect.
“In the 1960s, London started congestion pricing. Though it was opposed at first, one mayor finally managed to implement it,” said a senior traffic expert.
“In Chennai, such efforts require a lot of determination and political will by the government. Engineers were not able to implement the loop-buried vehicle activated signal on Arcot Road two decades ago, as the devices were damaged by road cuts,” he said.
He added, “Bus bays are a simple concept, but still, they have not been implemented properly. It is very difficult to implement anything here, but we have to try and experiment with various solutions for better traffic management. A lot of research has to be done before implementing any solution, including congestion pricing.”
Industries minister P Thangamani on Friday said six new industrial parks will be established across the state spread over 8,000 acres. He told the assembly that these parks would come up in Sriperumbudur, Cheyyar, Tuticorin, Madurai, Oragadam and Tindivanam.
The minister said the new park in Sriperumbudur will generate direct employment for 3,000 persons and indirect jobs to 20,000 persons. This park would be spread over 1,780 acres. “Many MNCs have evinced an interest to establish units in their park,” the minister said.
The Cheyyar industrial complex would entail an expansion on 2,300 acres of land while in the case of Tuticorin it would be 1,179 acres under Phase II for the Thoothukudi industrial complex. In case of the Madurai industrial park, the government is in the process of acquiring 1,478 acres and 720 acres of land in the Tindivanam industrial park. Land extending 616 acres will be added to the Oragadum industrial growth centre under Phase II of the project.
In addition, SIPCOT (State industries Promotion Corporation of Tamil Nadu) is also in the midst of preparing a comprehensive plan for Sriperumbudur with the help of consultants to upgrade basic social infrastructure and also housing facilities for employees in the region. “The government has issued orders for 100 acres of land each to be allotted by SIPCOT for setting up separate industrial parks for investors from countries like Japan, Korea, Finland, Germany and France to attract more foreign investment,” Thangamani said. The allotment would be made after acquisition of lands in the Sriperumbudur industrial park expansion (Vallam-Vadagal scheme).
In addition, SIPCOT has identified another 25,000 acres to develop the industrially backward southern districts. “It is proposed to create a land bank of 20,000 acres to fulfill the Tamil Nadu Vision 2023 document,” the minister said.
SIPCOT is exploring the possibility of establishing a water treatment plant to meet the present water requirements of 10 MGD (million gallons per day) for industrial park requirement either through a public private partnership model or with Chennai Metro Water.
TIDCO (Tamil Nadu Industrial Development Corporation) is also in the process of constructing bio park Phase II that will provide an additional lab space of 6.13 lakh square feet for bio technology, pharmaceuticals, nano technology and other research and development activities at a cost of Rs 150 crore at Taramani, Chennai and is also planning a LNG (liquefied natural gas) import terminal at an estimated cost of Rs 4,320 crore near Ennore.
However, the recent fall in the gold price has raised questions whether the returns given by these relatively safer investments are likely to sustain. While the gold price has fallen 20% from the peak, are the real estate prices also likely to correct is the question asked by the most.
Unfortunately the correlation cannot be verified as there is no long term real estate index data in India that will help with any reliable conclusion.
However, an analysis done by Karvy’s research team on 20 years data of the Hong Kong real estate index and gold price showed that the prices of both have 81% correlation. Similar holds true for the Indian data in 2012-13.
According to the experts the reason for this is that the correction in the gold price makes people sell their real estate investments and invest in the yellow metal.
Although this cannot be used as a certain conclusion, if you are looking to buy a house and were not able to do it earlier due to high real estate prices, you can hope this theory to hold true.
Come summer and you feel the heat. This is the start of the gruelling timeline where the sun will heat up the environment like a burning furnace. For those who live in the concrete jungle called cities; it is sticky and sweaty time. Unfortunate are those who live in a house with an open terrace for their house will heat up like an oven.
But the scorching summer will pass away with little impact, if you can carry out some of the ideas which we are going to discuss.
Vanquish the culprit:
Houses with open terrace just pass on the heat inside the house and makes living unbearable. What you can do is; wet the terrace with the water in the evening time to reduce the heat. It works well. Try it.
If you are ready to spend some money, then you can buy gunny bags equal to the size of the terrace. Fill it with saw dust and then wet it water and place it in the roof. What will happen is that, the saw dust will absorb the water for long time. This will keep your house cool.
If you love plants, then you can have a garden in the roof surface with potted plants and small herbs. This will keep the environment green and roof surface cool. Growing medicinal plants will be useful for you since you can use for treating small ailments.
Grow indoor plants:
An indoor plant removes stale air and keeps the house cool. Plants like Begonia, Dracaena, Aloe Vera, Hyacinthus suits any type of home. Keep the plants near the window regulate temperature
Use blinds or thick curtain:
Avoid using black curtains as they absorb heat and do no radiate them. Using blinds will keep the heat away more effectively
Energy efficient Bulbs:
Fluorescent bulbs are best bet and will save money and energy. They produce less heat than the normal incandescent bulb. People tend to use yellow bulbs in the bathroom and kitchen. Please avoid it and change t CFL.
Good ventilation:
During the evening time open the door and widows of all the rooms. The point is the temperature in the evening will be less outside and hot inside the house. Let some cool air flow inside the house.
You can paint the roof with white color. White colors reflect all the heat absorbed and keep the temperature low and nice.
Table fan or ceiling fan:
When it comes to the choice, do go for table fans as it circulates cooler. Ceiling fans suck in hot air and circulates them in the house. It is bad for health. In humid climate you cannot stay in the house as it is sticky and hot.
Grow plants around the house:
City life has taught us to decorate the house beautiful inside but when it comes to area outside the house, we care less. Growing shade tree or plants will create a micro-environment which will keep you house much cooler. Plants have the ability to enrich the environment with oxygen. If you are planning to build a house do not hesitate to allot space for plants.
When couples are working:
In a typical city life nuclear family, both the couple work and children go to school. The house is locked. It is better to leave the window open. Closing all the doors and window will make the air hot, stuffy inside the house.
If you have any other ideas please share it with us
