Affordable Homes at Prime Location of Noida Extension.

Affordable Homes at Prime Location of Noida Extension:

Noida Extension is a part of Greater Noida and officially known as Greater West, It spread over nearly 3,635 hectares, Noida Extension is the starting point is cross of Hindan River and it is well connected to Central Noida Location. The name Noida Extension was initially used by builders to refer to certain pockets of Greater Noida because the location is close to Noida. This was done to differentiate it from both Noida and Greater Noida, and also to make it clear to potential home buyers that it’s close to Noida.


The Part of Greater Noida formally known as Noida Extension is well known for affordable houses at the prime location of NCR in-fact Noida and Greater Noida. Here many builders having their projects in which high - rise apartments and low -rise apartments are developed at the affordable cost.

A project namely Harsh Vihar Noida Extension launched by builder in which individual homes are developed at the affordable cost. The project Harsh Vihar is affordable because the builder is developing it on the small size of plots  so that any lower middle class of people can purchase their dream home here.

Noida Extension a Well Connected Destination in NCR: Affordable Harsh Vihar Villas

Noida Extension is the fastest emerging Residential and commercial hub of Delhi NCR, It is surrounded by lush green natural environment and developed on the banks of River. Noida Extension is offering 1/2/3/4 BHK Homes for all class of people. Though individual villas are some costly but a project is known as an affordable category namely Harsh Vihar Noida Extension.

The Noida Extension area is having the world class infrastructure development with roads, and metro connectivity in near future. Schools, institutes and healthcare fields are also going to develop soon. Many schools are functional there at present time.

The shopping complex such as in Gaur City going to become functional very soon, many commercial projects are under construction there in Noida Extension which is in close vicinity of Harsh Vihar Villas. People can get purchase their dream home at comparable affordable cost as per current market scenario. 

PMAY PRIMER - Interest subsidy on home loan under PMAY

The scheme under PMAY commences from January 1, 2017. The subsidy will be available for all home loans taken by eligible borrower on or after this date

The Union government is planning to disburse a subsidy of Rs 31,000 crore through credit-linked subsidy scheme under the Pradhan Mantri Awas Yojana (PMAY).As the scheme includes the middle-income group of households with income up to Rs 18 lakh per annum in this scheme, market-watchers say that this will promote sales among first-time homebuyers.
Here is a primer for the interest subsidy on home loan:
Q: What is subsidy scheme under the PMAY?
In the subsidy scheme under PMAY, a home loan borrower with a family income of up to Rs 18 lakh per annum is entitled for benefits, as shown in the chart, provided he or she is buying his or her first house.
The scheme contemplates an interest subsidy at the rate of 4% on loans of up to Rs 9 lakh for households with an income of up to Rs12 lakh per annum, and an interest subsidy of 3% on a loan of up to Rs 12 lakh for households with an income of up to Rs 18 lakh per annum.
However, while a homebuyer can borrow any amount, the subsidy will be given on the a maximum amount of Rs 9 lakh and Rs 12 lakh, in the respective salary brackets, at 4% and 3% respectively.
The subsidy for EWS or LIG households with an income of up to Rs 6 lakh is 6.5% for loans of up to Rs 6 lakh.
This is also known as credit-linked subsidy scheme.
Q2: What is the effective date of commencement of the scheme; will it be also applicabl le retrospectively to applicants whose loans are still under consideration?
The scheme under PMAY commences from January 1, 2017. The subsidy will be available for all home loans taken by eligible borrower on or after January 1, 2017.
All those whose home loans have been disbursed on or after January 1, 2017 can claim the subsidy and can ask the disbursing bank to process their application under the scheme.
Q3: In terms of eliigibility, is the income calculated on an individual basis or a family basis?
The income will be calculated on the household basis, which includes the income of the borrower and his or her spouse.
Q4: On what basis has s the NAV of 9 % been calculated and is this indexed on any variable parameter sets?
The NAV (net asset value) is computed mainly to standardize the scheme. However, the net subsidy amount will vary if the home loan rates offered by banks or NBFCs change.
Q5: What is the process of crediting the interest subsidy?
The subsidy is released by the government through Central Nodal Agency (CNA), like National Housing Bank or HUDCO, for the purpose of disbursement made by banks and housing finance companies to the beneficiaries.
Subsidy given by the government is credited by the bank or the housing finance company that received the subsidy through CNA to the borrower's home loan account upfront by deducting it from the principal loan amount.
Because of this, the borrower will pay EMI on the remainder of the principal amount.
If a borrower with a house hold income of Rs 15 lakh borrows Rs 50 lakh from a housing finance company to buy a house, the bank will send his application for the subsidy to the desig nated CAN while processing his loan. Officials of CAN claim that the subsidy is disbursed within a few weeks of receiving the application.
In the Rs 18 lakh income category, the net present value of the subsidy works out to be around Rs 2,30,000, for a loan of Rs 50 lakh on a repayment peri od of 20 years, at an interest rate of 8.25%. This amount will be deducted from the borrower's princi pal amount and the borrower will, in effect, have to pay an EMI on around Rs 47,70,000. This will reduce his EMI by around Rs 1,961.
But for the smaller loan amount, savings--in per centage terms--is huge. On a Rs 10 lakh loan for 20 years at 8.25%, the subsidy results in the reduction of EMI from Rs 8,500 to Rs 6,200--at 27%!
Q6: Which institutions give this benefit? ?
Lending institutions like banks, housing finance companies, regional rural banks, state cooperative banks, urban cooperative banks, and NBFCs, which give home loans, also extend the benefit to borrowers.
The government is also trying to rope in developers to assist borrowers to secure the benefit.

Harsh Vihar Noida Extension is a project in which individual villa are developing in Noida Extension. This is the suggested project and home loan also available.

Make a Smart Home Purchase : At Harsh Vihar Noida Extension

In recent times, the real estate sector has gone through many changes.
RERA, demonetisation, union budget 2017 and GST, have changed various paradigms in the real estate sector. Real estate prices have fallen and are likely to go down further. This could mean that a bubble is about to burst. Now, with GST coming in as a nation-wide reform, another probable side-effect is a downward movement of the interest rate structure.

Although this could come as a relief to people who can't afford high EMIs and it seems like an attractive investment option, people buying property as an investment, might be disappointed.Prospective buyers are likely to assume an appreciation in the near future but it may not be so. The property rates are expected to be stagnant, if not suffering a fall.

Real estate is considered to be one of the safest bets for investments even though the market has been on the slower side lately. And like every other asset class, the real estate market too has faced its share of success and turmoil. So for instance, the period between 1988 and 1994 saw property prices escalating to an all-time high; the years that followed was quite tough. And then by 2002, most of the properties were being placed at half the peak price they achieved in 1994. Real estate in India has evolved in the last few months and currently, end-users can make the most out of the sector. Investors today, will have to wait for the right time before investing in the market.

The realty sector has seen a boom with positive end-user sentiment that has driven the market. Consumers today, are well-informed and are looking forward to buying a property under RERA, which will help them safeguard their interests. But according to experts, currently they need to play the wait-and-watch game. You need to think, study and strategise your buys without randomly handing over the cheques to the developers. Consumers need to be more cautious.

Experts are trying to educate consumers and are highlighting the need to look out for the best offers according to their personal sentiments and financial plans before going ahead with the purchase.Inspite of the current market conditions where the recovery is still a work-inprogress, buyers are advised to go out and look for their dream home. If you are looking from a long-term perspective, tread cautiously yet scour the market and secure a good deal for yourself.

A few tips:

End-users looking to invest in a 3-BHK should instead invest in 1 and 2-BHK flats or Villa at the best location of NCR the Harsh Vihar Noida Extension, which are easier to sell or rent; People harbouring a long-term perspective, are likely to be winners at this point of time; Think, study and strategise your buys smartly; Do not fall for offers and schemes as they could benefit in the short-term, but looking from a long-term point of view, the appreciation looks fickle.

Source : TOI dated 17/06/2017

Most Favorable Time to Buy Your Dream Home in NCR

Most Favorable Time to Buy Your Dream Home in NCR:-

According to real estate market experts the present time is a most favorable time to invest real estate projects such as Harsh Vihar Noida Extension. Such projects are not very large so it can be see that these projects are capable to deliver on time. If you would go to purchase a home in big projects, there is a chance to delay of the possession and such time the buyers would be feeling the extra burden of EMI which they are paying to their home loans.

Harsh Vihar Noida Extension project having affordable villas which are the suitable options for lower and middle class of people.

The home loan is a also a big factor by which experts can say that the current time is good for purchase homes because the REPO rate has seen not any increase by RBI so rate of interest is very ideal position  at this point of time.