Tag: Gated Community Plots in Hyderabad

All you need to know about DTCP approval

admin Leave a comment

DTCP stands for Directorate of Town and Country Planning. It is a government body that works in planning and regulating rural and urban infrastructural growth. They oversee the areas that come under their jurisdiction.

It is essential to obtain DTCP approval and without it, the developer might face legal repercussions.

On gaining the DTCP approval, developers can build gated communities and villas for their customers.

The importance of DTCP approval

Many people like to customise their homes and hence opt for open residential plots. This is where DTCP approval comes into play.

DTCP approval refers to the entire layout of the open plot that is approved by the state. Developers and builders have to obtain this approval to ensure that their work is carried out according to the rules and regulations of DTCP.

All layout plans have to be approved and agreed upon by DTCP before starting the construction process on the open plots. This is mandatory for all states and they must have such a separate government body.

The eligibility and criteria for DTCP approval in Telangana

Here are some of the documents necessary for the application process.

  • -Proof of ownership of the land
  • -Layout plan or building plan
  • -No objection certificate (NOC) from the concerned authorities
  • -Survey sketch of the land
  • -Soil test report
  • -Structural stability certificate from a registered structural engineer.
  • -Registered architect’s plan
  • -Building permit fee receipt
  • -Any other document as per the government’s norm

It can take up to 90 days to gain the council’s approval for the project. After which, you will receive an approval letter for the property layout.

Advantages of DTCP approval

There are various benefits of DTCP approved plots. For instance:

No legal issues

You are free of any legal hindrances after obtaining the DTCP approval. No one will interfere in the property development and everything can go smoothly.

Safety Compliance

The rules and regulations of DTCP approval compel builders to comply with safety guidelines. The design or layout along with road size and other infrastructure specifications have to be built to ensure maximum safety and security.

Ample amenities

The DTCP approval involves inclusion of well-built wide internal roads, sufficient spaces between two buildings and open space for parks or playgrounds. There is immense scope to equip the real estate projects with good amenities that assure a comfortable lifestyle to people.

At TMR Group, we offer a range of plots that are DTCP approved and RERA registered that comply with the state’s rules and regulations. To know more visit https://tmrinfra.com/

How are land loans different from home loans?

How are land loans different from home loans?

admin Leave a comment

Investing your money in real estate is a milestone in your life and believe it or not, it is bound to change your life right from the next instant. It doesn’t matter whether you are a first-time investor or not, it’s extremely important to know about loans and how they ease the entire buying process for you. Buying a home or a plot of land may not seem different to most and both are usually considered as a home loan but it’s important to consider the differences while applying for the loan. Although the terms and conditions, the application processes, and the tenure of both the loans are quite similar, there are some fundamental differences between home loans and land loans. The most important factor when it comes to home loans is eligibility. Let’s check out the difference between home loans and land loans.

Home Loans 

Home loans are availed to the eligible people for the purchase of residential properties that are to be constructed in the future, or for under construction, or for ready-to-move-in properties.

  • You can get a home loan to any type of residential property in any location of your preference
  • Any resident of India and NRI’s are eligible for home loans
  • The maximum tenure of the home loan can be 30 years
  • If both the husband and wife have separate sources of income are co-owners of the property, both can claim an income tax deduction on the loan separately
  • Tax deductions can be availed for both the principal and interest payments
  • The loan-to-value (LTV) ratio is between 75% and 90% of the total cost of the property, depending on the lenders
  • Interest rates are at an all-time low ranging between 6.65%-8.00% depending on the lenders

Land Loans

A land loan can only be used to buy a plot of land that has been earmarked for residential real estate construction.

  • The location for the plot should be within the limits of the municipality or the corporation or in industrial or rural areas
  • Only residents of India are eligible for land loans
  • Land loans cannot be used for the purchase of agricultural land
  • The maximum tenure of the land loan is 15 years
  • No tax deduction for the purchase of the property, the tax deduction is only eligible for construction of the property on the plot and can only be claimed after the completion of the construction
  • The loan-to-value (LTV) ratio is up to 75% which means that 70%-75% of the total value of the property will be provided as a loan
  • You can avail of a plot loan to purchase a plot through direct allotment or to buy a resale plot, depending on the respective lender
  • The interest rates are about 0.75%-1% higher than the home loans

At TMR Group, we aim to bring promising ROIs in the shape of RERA and HMDA approved plots in Hyderabad. Our projects have precisely designed layouts in the most sought-after locations of Hyderabad that have a great potential to multiply your investments in the upcoming future. Check out www.tmrinfra.com to know more about us and our work. Get in touch with us!

Digital Land Survey in Hyderabad

Digital Land Survey in Hyderabad

admin Leave a comment

Unresolved and decades-old land disputes on ownership have been crowding before the government and in courts. To make Telangana a land disputes-free state, the Telangana government is all set to launch its pet project – ‘Digital Land Survey’ from July in the state with a primary motive to fix the land coordinates and thereby provide total security and protection to legal owners of the land by using high-end technology that is being used by Australia and some European countries to generate 100 percent tamper-proof land records. The government of Telangana has sanctioned INR 400 crore for the execution of this project. The land survey initiative is part of a portal launched to maintain integrated land records for agriculture and non-agricultural lands and ensure transparency in the registration process.

Evolution of Land Survey Techniques

During this digital survey, every inch of land would be measured and boundaries will be fixed to avoid land-related disputes in the future and the government would allot latitudinal and longitudinal coordinates and create geo-coordinates. After completion of the survey, the land records would be tamper-proof and it is predicted that it would take at least one year to complete the survey. The government is conducting frequent talks with private agencies which have expertise in the conduct of digital land surveys at the international level and plan to launch a pilot survey and based on the outcome of the pilot survey, the digital surveys will be extended later to the entire state. After the successful completion of the digital survey of agricultural lands, the survey will be undertaken in all urban areas to improve the security of land ownership.

How the digital land survey in Telangana can boost development?

Total digitization of the land records eliminates land disputes and will lead to transparency in the land ownership records. Here’s how it will boost the development:

  • Transparent land record management
  • A single platform to handle land records that includes maintenance and updating of maps, surveys, and registration of properties
  • Hassle-free online approvals of plans and occupancy certificates
  • Clarity over ownership status
  • Greater ease of doing business in the sector, by simplifying it for the developers and buyers
  • Easy and flawless checks on the authenticity of the land or the property

At TMR Group, we aim to be thought leaders of the real estate market and educate our audience about the latest developments in the sector. We offer a variety of HMDA approved plots in Hyderabad that have a strong potential to multiply your investments. Visit www.tmrinfra.com to know more about our projects and get in touch with us!

Home Loans for NRI’s

admin Leave a comment

Real estate developers have always considered NRI’s as an important part of their target audience and the NRI crowd also prefers investing in India because when a comparison is made with the foreign real-estate, India offers much better properties at a much reasonable price making it an ideal choice for NRI’s.

NRI’s Investment Market in India

NRI’s have always played a crucial role in the Indian real estate market. The main reason for their investment is generally either sentimental value to their origin or as a backup plan just in case they ever plan on moving back to India. Generally, they just buy and put up properties for rents assuring a steady sum of the amount coming to them with definite safety and increment in their investment. The currency advantage due to the depreciating rupee plays into their favor, raising their purchasing power. To smoothen the pot, NRI’s can also apply for home loans and they get similar tax benefits like the Residential Indians with respect to repayment and interest rate if they meet a few criteria. Foreign Exchange Management Act 1999, defines an NRI as someone who resides outside India for, “employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period”. It also says that an individual will also be considered NRI if his/her stay in India has been less than 182 days during the preceding financial year and anyone meeting these criteria can apply for home loans in India. 

Benefits for NRI’s Investing in India

NRIs can be benefitted from the tax deductions only if they have an income that is taxable in India. If they have taxable income in India, they are eligible to claim deductions on the repayment of interest and the principal amount from the taxable income as per Section 24, 80C and 80EE of the Income Tax Act.

Here’s a list of all the benefits NRI’s can get while investing in real-estate in India if they are defined under FEMA:

  1. An NRI home loan can be availed to meet all of the property-related requirements, including purchasing a house, constructing a house and renovating an existing property in the country.
  2. The difference between the value of foreign currencies like dollar or euro in comparison to rupee give a great advantage and raises purchasing power.
  3. The application process is hassle-free and barely takes up any time.
  4. With most banks, a candidate can apply for an NRI home loan online. The process is easy and transparent. The tracking of the application is also very easy, from anywhere in the world.
  5. Almost all banks provide a prepayment facility for either none or very little extra fees.
  6. There is no restriction on the number of properties NRI’s can purchase in India. However, agricultural land, plantation land, or a farmhouse cannot be purchased, only residential and commercial properties.

Home Loan Interest Rates for NRI’s

Most banks offer NRI home loans that have attractive interest rates on a monthly reducing basis. The candidates also have the option to choose between fixed or a floating interest rate but the candidates must be under the following regulations:

  • Age: 18-70 years
  • Nationality: Indian, Non-resident Indians (NRIs) and Persons of Indian Origin (PIOs) are all eligible. Overseas Citizens of India (OCIs) are also eligible except citizens of Afghanistan, Bangladesh, Bhutan, China, Iran, Nepal, Pakistan and Sri Lanka.
  • Work Experience: At least two years of experience in the company he/she currently works for
  • Loan Amount: The amount depends on an individual borrower’s profile and differs from person to person
  • Loan Tenure: Most banks allow a loan tenure of up to 30 years
  • Prepayment Charges: The prepayment charges for most lenders are 0%-2%
  • Late Payment Charges:For most lenders, late payment charges are 1%-3%
  • Other Prerequisites: NRIs require an Indian resident to be a co-applicant, co-borrower or co-owner of the respective house or property
  • Interest Rates: Interest rates vary for different banks, like SBI and HDFC offer 6.70%-7.00%pa, ICICI offers 6.70%-7.95%pa, LIC Housing Finance offers 6.90%-7.30%. The overall range of the interest rates is 6.70%-8.90% in 2021.

TMR Group believes that every NRI is still as much Indian as the rest of us. Therefore, all our projects offer the best deals on home loans for NRIs. They have excelled in their field and are making India proud overseas. It is our humble way to say – thank you and offer them NA plots in Hyderabad with the best returns.

Senior Citizens’ Plot Buying Woes

Senior Citizens’ Plot Buying Woes

admin Leave a comment

Senior citizens are always caught in the eye of the storm for various reasons. Firstly, it is their deteriorating health that takes a toll on their peaceful living. Secondly, the volatile government rules and regulations and tax reforms which are sometimes unfathomable by the senior citizens. All these challenges create an impediment for the senior citizens when they consider buying a property at that age. This blog will explain all the scenarios and situations that cause these problems to senior citizens.

The Pandemic Aftermath

The senior citizens were already going through so many issues when suddenly COVID-19 made a horrid entry into their lives as a nightmare. Senior citizens, who make up for approximately 10% of our population, are concerned due to the persistent warnings that the virus tends to be more hostile among the elderly. Not to cause any alarms, 51% of deaths in India in the range of 60 years and above. However, the potential virus was never their primary concern in the first place. Some senior citizens were secluded, some were instructed to constrain from moving from one place to another, and some faced financial crises. For senior citizens to tackle these issues, here’s a list that needs to be checked out.

Elevators

When you age, there are some lifestyle diseases or age-related diseases that tag along as complimentary ailments. That’s the reason why senior citizens should consider buying a property that has elevator services.

24×7 Security

This is a major requirement when it comes to senior citizens. The reason being senior citizens are prone to forgetfulness. And when they are living in a society without security, their safety is prominently compromised. That’s why it is imperative for senior citizens to live in a building that’s guarded 24×7.

Transport

Senior citizens are those who mirror the characteristics of children or babies for that matter. They do not like to live like they are on house arrest. That’s the reason why easy transport facilities to the places of their likings, such as temples, convenient stores, hospitals, and so on, is very important.

Parks & Recreation Facilities

Senior citizens are generally fond of spending their spare time in peace. That’s the reason why gardens and parks play a significant role. Be it for a leisurely stroll, a serene walk down the serpentine walking tracks, or be it for green lawns, these simple, yet essential amenities power their pastime.

Affordability

Senior citizens, by the time they are retired, would have made a considerable amount of savings as security. If they were to invest that amount, it would be in something that would fetch them returns and secure their old age. Buying an expensive home at that age would definitely not be a thing on top of their mind.

At TMR Group, we make sure that all our projects are senior-citizen-friendly. They do not have to bother about living away from home or living disconnected from their loved ones or living an expensive, unhealthy life. All our projects are equipped with world-class amenities, 24×7 security and has hassle-free documentation processes so that their investment and their lifestyle are secured and they can live a carefree and peaceful life.