Happy to Announce - Loanyantra.com is selected for t-hub

What is t-hub?

T-Hub is designed for technology-related start-ups. Its mission is to catalyse the creation of one of the tightest and most vibrant entrepreneur communities in the world in order to encourage and fuel more start-up success stories in India.
A technology incubator, with collaborative efforts from the Indian School of Business (ISB), the International Institute of Information Technology (IIIT-Hyderabad) and NALSAR University of Law, besides various other organisations. 
The Telangana state government has put in Rs.40 Crore on the 70,000 sq ft facility constructed on the IIT-H campus. 
By giving access to top mentors, investors and academia, the T-Hub building will help every entrepreneur realize their dream. 

Loanyantra.com is one among other start-ups to be placed in t-hub

We are proud to announce that loanyantra.com has been selected among 500 start-ups. This gives us more confidence and more focus to achieve our goal. 

Thanks to the existing customers, happy to quote you, we achieved it because of you.

Looking forward to serve our customers better.

You can find us now on :

1st Floor,

t-hub Hyderabad,

IIT Campus,

Gachibowli,

Hyderabad.

Investing in Luxury Homes - 7 Reasons

With the reviving economy having infused a renewed sense of confidence among High Net worth Individuals (HNI) home buyers, there has been a significant surge in demand for luxury homes asset class in the metropolitan cities of India.

They want more than just four walls and a parking slot. 

Indian luxury home buyers have sound reasons for why they want to live in premium rather than 'normal' homes.

Perfect View -

The 270 degree or 360 degree window view  from an apartment is one of the important aspects.  The view of  swimming pool, various sports courts, play area and excellent landscaping soothes the eyes and sensibilities of the occupants. This takes the luxurious living experience to another world.

Aspiration For Status - 

Buying a luxury home is a matter of prestige - and why not? After all, most luxury home owners have bought their pride and joy with hard-earned money. They want to live in homes that announce their arrival, and offer a higher lifestyle rather than just a postal address.   

Comfort - 

The very latest of today’s luxury homes provide all the modern comforts – and an ideal environment for living and raising a happy family. These homes are built to take care of the needs of a comfortable lifestyle. Features like swimming pools, themed, landscaped gardens, gyms, meditation centers, manicured lawns, electronic security, touch-button responsive fixtures, and entertainment and shopping available at close hand all contribute towards making the living experience more comfortable and enjoyable.   

Security - 

One important feature of luxury homes is that they have very high security. They have top-of-the-line security, both in terms of trained security personnel and security installation that guarantee safety. Further, accidents and medical emergencies can be quickly taken care of with immediate response triggered by technology, and the availability of hospitals and emergency rooms close at hand.  

Technological Enablement -

Technology and IT innovation have gone a long way to make the living experience in high-end luxury homes extraordinary. From solar generators to remote controlled window shutters, everything is directed towards meeting the demands of homebuyers looking for an ultra-modern lifestyle.   

Better Neighbours -

The benefits of housing one’s family in a luxury apartment do not only extend to conveniences. Luxury housing projects are also seen as the perfect environment for one’s children to grow up in and the adults to socialize in. After all, such projects basically form a society with a certain degree of culture, education and beliefs – in short, better neighbours. 

Investment Value -

The increasing demand for properties in India rivals that of gold. Real estate and gold are the most traditional forms of investment in India. However, properties present the advantage of being an asset that rises in value at every instance – and it is also a ‘performing asset’, meaning that it serves a practical purpose even as it gains in value. 

Given the fact that luxury homes are always in demand even on the secondary market, HNIs correctly see them as the perfect investment opportunity that guarantees multiplied returns in the future. 

A New Investor? What do you prefer, single family home or multi family home?

Are you looking for a good investment? Do you want to invest in a house? Are you in a dilemma which size you should go for? Here we are to help you.

When you consider single family homes (1 or 2 bhk) and small multi family homes (3 or more bhk), for investment purpose, though you can afford for a bigger house, it is always better to go with single family homes.

Here are some facts why a new investor should go for 1 bhk or 2 bhk. 

1. Expenses :

A house to maintain it neat, it needs some extra attention. This ofcourse charges your wallet. When you buy only for investing, it is better to go for a small house as the expenses on repairs and replacements are minimum. Advantage is that for a smaller house, tenants usually take interest and initiative on these small works.

2. Vacancy :

Tenants usually stay for longer in small homes than in bigger homes. Also, single family homes rent more quickly than multifamily ones. This means, fewer days actually your house is sitting vacant.

3. Tenant Interaction :

This may not seem like a big deal, but it can be. In a single family home, you don't have to worry about the tenants getting along. In a small multi family, it is tough to have understanding and cooperation. This might affect your home and might result in more repair works or association problems and discipline problems aswell.

4. Pride of ownership :

We know that our tenants love the fact that they have a home. It may not be theirs, but they treat it as their own. They keep it clean. They love to stay in it as they hold on many memories. Ofcourse, we have some who don't. But the ratio is on lower side. But taking the ownership and maintaining the house well, leaves us happy and tension-free

5. Sale of the property :

The best thing about single family home buyers is that, it appeals to the largest amount of buyers. Apart from retail buyers, investors would be interested in the property as well. 
It is always, the demand for 1 bhk and 2 bhk is relatively more when compared to a 3 bhk and a 4 bhk, irrespective of the area and the luxury. 

Hence, as a new investor, you will have fewer headaches with a smaller home and more profit in future.

Part payment Vs Interest reduction penalty

It is very common for a home loan payer to pay part payment to reduce the principal amount or a penalty for reducing the present interest rate. Both the options are the best if you want to close your home loan fast. But the question arises which option to take when. Here is a brief description about both the options.

1. What is part payment? What is Interest reduction penalty?

Part payment -  Payment made to reduce the principal of your loan. For suppose, every now and then in an year, if you save, say, minimum of Rs. 50,000 or say Rs. 1 Lakh. You can pay that amount to the bank against your home loan. This amount will be added to the principal. Inturn, this will reduce your loan tenure.

Interest Reduction Penalty - A minimal fees to be paid, to the bank, if you want to change your home loan interest rate to the present home loan interest rate.

2. When do you opt for either of the options?

Part Payment - Don't wait to pool up your savings for part payment of your loan. Paying a minimal amount also can reduce your principal which will reduce the loan tenure. No extra fees to be paid. But be careful with your bank's terms. Though there is no extra fees, there is a limit on the no. of times you go for part payment in an year.

Interest Reduction Penalty - If your interest rate is higher than the present interest rate and makes a much difference on your EMI, mark it in your to-do list to change your interest rate.  For example, if you are on 12 % interest and the present rate is 9%. You are paying 3% extra on your home loan which is merely a waste. Instead, pay the penalty and change to the present rate, and plan for a holiday on your monthly savings.

3. Which one to choose?

This question is valid when you are almost at the end of the home loan tenure. Or, if you plan for a balance transfer. If you are in any of these situations, then paying penalty for interest reduction is a no no. This would charge your pocket an extra than reducing the burden. If you have savings, it is better to opt for part payment which will help reduce your tenure and if you want, can also reduce the EMI.

Hence, remember that both the options are the best. But what is important is how well you choose.

Steps for NRIs to Sell a Property in India

Are you an NRI and inherit a property? Did you buy a home in India and got settled in other country. Are you planning to sell off that home. Here are the details. 

Steps for NRIs to Sell a Property in India

For expats, selling a property in India from abroad is a challenging process, especially if they left the country years back. There are rules for an NRI in selling his/her inherited property in India and it requires legal help. Here is the step wise procedure on how NRIs can sell their inherited land or property legally without any litigation:

The process is quite similar for residential Indians and non residential Indians except for the latter have tax implications and repatriation policies.

1. Title Transfer for Inherited Property

If the property is inherited, then the title should be changed to the seller’s name by the process of mutation of revenue records. This transfer requires a will or a succession certificate. If one cannot procure a copy of the will, then the local court can issue a succession certificate. With this certificate, one can apply for a title change in the mutation of revenue records office.

This procedure is time consuming and it is advisable to have them changed earlier.

2. Checklist of Documents Required for Selling

It is necessary to procure all the documents required for selling the property in India. Some of the documents include:

• The title deed or mother deed of the property
• No objection certificate to show the clearance of litigation and debts.
• Occupation certificate issued by the municipal corporation
• Plan approval/sanction certificate
• Cooperative share certificate if the property is a part of a society building
• Lawyer certificate, if any of the original documents were lost

Apart from these documents, the seller should have a PAN card number to sell properties that involve big amount transfers. The NRI can apply PAN to sell the properties or he/she can submit form 60 at the registrar office for the same.

3. Finding a Right Brokerage Firm

If there are no close friends or relatives to trust with the transaction, it is wise to consult a brokerage firm to assist in the selling process. However, if the seller has realty market sense and people to support then he/she can go ahead with the selling process on their own.

The brokerage firm can help you in suggesting the market situation, finding suitable buyers, price trends and risks involved. They can assist in fixing the selling price, applying for PAN and attorney service to obtain legal documents and tax implications. Although they provide end-to-end solutions, brokerage in India has no legal license and it could be troublesome if the brokerage fee is not fixed properly. It is advisable to find the right brokerage firm and fix the fee before initiating the selling process.

4. Sales Registration

It is essential to grant the power of attorney for the transaction to a PoA holder. There is no need to grant a complete power of attorney; instead the seller can give ‘Admit PoA’ rights to the PoA holder who will merely represent the owner in the registrar office. According to this, the seller should duly sign all the documents and the PoA holder will represent him in the sale registration.

However, issuing the PoA process differs from time to time and each firm will have a different process. Once the registration is complete, the seller should also concentrate on the tax implications.

5. Focus on Tax and Repatriation Issues

The NRIs have long term capital gains if the property was sold after 3+ years of purchase, the tax for which comes to 20.6%. Further, the basic exemption of Rs. 2 lakh is not applicable for NRIs. There are other tax exemptions available for the NRIs while selling the property.

The sale money can be repatriated through official dealers but it should not be more than US $1 million per year. If the property is inherited from one NRI to another NRI, then you need to get a special permission from the Reserve Bank of India. However, the brokerage firms will guide you through this process.

Do opt for a legal help. They act as best resort and pull you out from the property issues.

Tips to keep Your House Sale on Track

Pankaj, a 30 year old smart guy, have been staying happily with his family in his home for over 5 years. He has a son whom he is thinking to join for schooling. His son got an admission in a school to where he has to travel for an hour from his house.  Pankaj doesn't want his son to travel so far everyday. So he decided to take a new house near his son's school and sell off his present house. Emotional Pankaj, tags a 'for sale' board to his house. It's been three months, the tag is still hanging. He doesn't know what went wrong for the situation. So, he starts browsing about his need. He finds an article that answers his queries.

Here it goes

Your house is a home filled with love and affection for you. But for the buyers, it is a house, just a house. Once your home is on sale you need to keep a track and insure you get to closing with minimal to no hiccups. Mess something up and you may find yourself without a buyer or with the buyer walking away after the deal implodes.

This article provides  needed tips on how to keep your home sale on track.

1. Inspect it

Without question, the number 1 thing a seller can do to prevent delays on selling their home is to ensure that the owner has the list of verified documents prior to placing the home on market. This is to ensure the potential buyers that they are acting in good faith and have all required documents.

List of documents needed before you hit the ground.
1. Original sale agreement ( to make sure there is no outstanding loan on this property)
2. NOC from the society for sale of the flat ( to make sure the society is formed and is in existence)
3. Share certificates issued by the society.
4. Occupation certificate issued by the municipal corporation
5. Plan approval/sanction certificate
6. Proof of payment of all municipal taxes, society charges and electricity bills upto date to make sure there are no outstanding dues.
7. Income tax receipts from the seller to make sure he has paid all the income taxes and has no restriction to sell his property.

8. Lawyer certificate, if any of the original documents were lost

2. Price it 

In real estate, slow and steady wins the game. If you rush the sale and don't get your property in decent enough shape, you will miss an opportunity of getting more money from it. If you let your feelings get a hold of you and dictate the price, you'll not only miss the chance to sell, but also have that mistake follow you, for the future, possible transaction. 
So, it is absolutely positively essential that your home is priced correctly from day one. Remember that over priced homes take longer to sell and often sell for a much smaller percentage of the original list price.

3. Prepare it

To make the house ready for the sale, the must do things are cleaning, painting, and decluttering. Your home must truly be ready to show before it hits the market. You cannot do anything with the location, but keeping the home clean and tidy with all the modifications done, would attract the buyer. You only get one chance to make a first impression and this is especially true when selling a house!

4. List it

For those who want to keep their home sale on track,  it is good to have an experienced real estate professional in your corner. Since there are so many pieces to a real estate transaction, it is critical that you hire a professional who has experienced nearly every possible scenario that is possible.

5. Communication 

If you have an agreement with the agent, make sure you are in constant communication with all those who are involved in your home sale process.

Hence, when going for a home sale, ensure that you are not in a hurry while pricing . Ensure that you are on the correct path by taking experts decision. If you cannot take the burden or if you are running out of time, its better to go with a professional real estate agent.

Online Term Insurance Plan

What is a Term Plan?

As compared to traditional insurance plans, Term plan is a basic insurance plan wherein you pay a much lower premium to get a high sum assured. The other main difference is the death benefit which is provided only in case of death of the policy holder. It means that in case the policyholder survives the entire term of policy, nothing will be paid to the nominee hence there is no return on maturity of the term plan. A person of 35 years of age can buy a cover of Rs. 1 crore at around Rs.10,000/- per annum only.

Here is the table showing the best online term insurance plans in India (as on Oct-2015)

Company	Scheme Name	Policy Term (Years)              Min        Max	Min Age at Entry	Covers upto   (Max Age)	Sum Assured  (in Rs.)                                                             Min          Max	Premium (in Rs.)	Claim Setting % (2014-2015)
ICICI Prudential	iProtect	10     30	20	75	3 Lakh        NA	12,247	94.1
HDFC Life	Click 2 Protect	10     30	18	65	10 Lakh 10Crore	11,910	94.0
LIC	e-Term Plan	10     35	18	75	50 Lakh      NA	16,405	98.1
Max Life	Max Life Online Term Plan	10     35	18	70	25Lakh100Crore	8,314	93.9
Kotak Life	Preferred e-term	10    40	18	75	25           NA	8,287	90.7
SBI Life	eShield	10    30	18	70	20           NA	13,135	91.1
Bajaj Allianz	iSecure	10   30	18	70	20          NA	13,438	91.3
Aegon Religare	iTerm Plan	5    40	18	75	10          NA	8,202	81.0

Why is it available so cheap?

Because there are no agents involved; it is similar to your online shopping wherein no shopkeeper/distributor is involved . All the amount which company have to pay towards commission/other payouts and even the other administrative costs are much lower. The same amount is passed back to the end user. The other statistically proved reason is the longevity of those buying online as the population is mostly between in between 30s and 40s and also more alert and conscious about their security & well being.

Advantages:

Term plan has many advantages than your traditional policies as follows:

1. Lowest Premium (50-60% cheaper than offline) 
2. Highest Coverage
3. Faster process & Issuance 
4. Less paperwork involved 
5. Utmost Transparency 
6. Flexible in selecting a required plan
7. No medical checkup for certain age groups or up to Rs. 50 lakhs sum assured

Disadvantages:

Though there are lot of advantages as seen above for the policy buyer but ultimately it's your nominee who is going to apply for the claim if arises. You have to make sure that the technology/lodging claim online and other filing process should not become a bottleneck for them because nominee in most cases would be either wife or parents. They should not be made run from pillar to post to get their due claim. This happens mainly because there is no agent or mediator who can help in all the paperwork (online) to get it done especially in times when they are under emotional trauma due to the death of their loved one. Even local office of insurance companies won't be able to help because it is online and could be done online only.

Conclusion:

Online term plans are best if you can educate your dependents for the procedures and formalities involved in the claim and also keep them updated about your policy contract and jurisdiction. Enjoy your cup of coffee without comparing its cost to the term plan and don't fall prey to marketing gimmicks, be smart and buy smart.