photo by RedAgenda

In recent times builders have been offering residents of old buildings a handsome amount to get a refurbished flat with additional space.

Who will not grab such a tempting deal? The flat seller not only gets the cash, but also gets a monthly rent for his temporary accommodation. Once the new property is ready, he gets a refurbished, newly-constructed flat, in place of his old one.

Builders do so to redevelop the property and add additional floors to a particular building. They earn money by selling the additional flats. The money paid by the builder to the existing residents depends on whether he asks the resident to shift temporarily or permanently. [Read more]

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India has experienced a real estate boom in the last few years whereas the US had its share of a real estate boom but as of today their financial sector is in crisis. The share prices of real estate companies in India have fallen. There is a bearish sentiment in the Indian stock market, so does that mean the Indian financial sector too will face a similar crisis? [Read more]

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There are a number of factors that have a bearing on eligibility for a housing loan. The banks have their own criteria to determine the eligibility and quantum of housing loan. It would do well for borrower to be aware of some such factors.

To begin with, it is the information on the application form. The information submitted in the application form by the individual is verified from various primary and secondary sources - through interviews, calling up the employer, verifying from the database etc. In case of wrong information or inconsistencies, the loan application is liable to be rejected. [Read more]

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