Blog

The highest contributor to India’s GDP, Mumbai serves as the country's financial and entertainment capital. Home to the 2nd largest film industry in the world, known as Bollywood, showbiz has much to contribute to our economy. According to early estimates, over ₹2,000 crores ride on the Hindi film industry in 2023 while also serving as a significant source of employment for millions of people. Hence, it’s not tough to imagine the role of cinema in our country. 

Known as a saving economy, Indians are pretty cautious when making investments, sticking to only a few niche segments, one of them being the real estate sector. Over the years, there has been a significant change in the landscape of this area of fixed assets.

The system of taxation in India was very complex. There were several state and central taxes, excise duties, CESS, VAT, and other types of taxes levied on different goods and services.

Buying a home involves savings worth a lifetime or paying monthly instalments in the case of a home loan, making it an extensive process. Some of the age-old steps in the buying process include the following.

Gone are the days when home buying was considered only a male-driven affair. Women are now showing equal participation in financial matters, including investing in real estate. In fact, as per a recent study, it was observed that nearly 70% of women prefer investing in real estate. And fortunately, there are a plethora of benefits that women can avail of.

Ugadi is the festival marking the New Year in the Hindu calendar, celebrated in the southern states of Andhra Pradesh, Telangana, and Karnataka by gifting clothes, doing charity, preparing special food, and decorating the house. The festivities include drawing Muggulu, a type of rangoli, and decorating the doors with mango leaves termed torana. 

Whether owned or leased, the word home holds a special place in our hearts, from sharing the good and the bad times with your loved ones to growing old together. And so, first-time buyers must be extra vigilant, ensuring their savings or home loan debts serve the purpose; of creating a happy and vibrant home. 

Owning your dream home is the fulfilment of your dreams and your family's aspirations. While this is true, one must also consider India's extensive need for financial planning and paperwork. Buying a property involves thoroughly verifying all the legal titles, permits and plans, bank NOCs etc. Once you have bought the apartment, flat or plot, certain actions need to be taken to transfer the ownership in your name and secure it legally. The registration process and payment of the stamp duty are some of the more important aspects you should know about. This, however, is not the end of your responsibilities. The local municipal corporation where your property is located levies a property tax payable each year. Let us understand more about this.

With more and more women becoming financially independent, there has been a surge in the amount of women looking for home loans. Keeping this in mind and to encourage more women to buy their dream house, there are now exclusive home loan benefits available for women. From lower interest rates to longer repayment tenure, these benefits can help you save big bucks in the long run.