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How will a hike in repo rate impact you | Krisumi Waterfall Residences

On September 30 2022, for the fourth time in a row, the Reserve Bank of India's Monetary Policy Committee (MPC) decided to raise the repo rate or the lending rate by approximately 50 basis points. Simply speaking, the RBI increased the rate to 5.90%, joining the group of all the central banks and financial institutions that have done the same thing to counter inflation and rising dollar prices.

Let us understand the Repo Rate and how the hike will impact you and your money.

What is Repo Rate?

The repo rate is the rate at which the central bank of a country (which is the Reserve Bank Of India for us) lends out funds to other commercial banks. When banks borrow money from RBI, they must submit securities like collateral, treasury bills, or Government bonds. Mostly these loans are short-term loans when a bank is in dire need of emergency funds. RBI increases or decreases the repo rate to balance inflation by keeping the money supply in check. The repo rate was first hiked this year in May to 4.40%. It was further increased again in June to 4.90 per cent. The next hike happened in August when the repo rate was increased to 5.40%. Currently, the repo rate is 5.90%.

Impact of Repo Rate Hike on Citizens

1. Loans and EMI

When the banks or financial institutions increase the repo rates, the existing borrowers will experience a hike in their monthly EMI. This will have a big impact on people who are planning to buy new homes. The rate Hike impacts all types of loans like student loans, business loans, credit card loans, mortgages, personal loans, and various others. So if you are planning to buy 2BHK apartments in Gurgaon, you must learn about the new repo rate and how it will affect your EMI. Any change in the rate affects all types of customers as borrowing money from a bank or financial institution becomes more expensive. Therefore, it lowers the consumption of goods and services.

2. Savings

Individuals with savings and fixed deposits will usually benefit from the higher repo rates.

3. Mutual funds

All mutual fund investors, especially those who invest in-depth mutual funds, must be extremely careful during this hike in the repo rate. The rate increase directly affects debt mutual funds, especially all the long-duration bond funds. This is because all the bond prices start falling as the yield increases. This, in turn, lowers the return gained from debt investment. If you are a debt investor, you might experience temporary medium-range volatility.

4. Fixed deposit rates

All the consumers who have short or medium-term investments in banks and Financial institutions like fixed deposits will benefit hugely from the higher repo rates. This is because they will be receiving much higher returns from the investment. However, this depends on how and when your bank accepts the new rate.

5. Inflation

By the end of the next fiscal year, it is estimated that India will face economic stagnation if the inflation growth situation does not improve. Therefore, there won't be any growth, the unemployment rate will increase, and inflation will continue.   To balance the country's macroeconomic factors, RBI continuously monitors and updates the repo rate. Every time there is a change in the repo rate has a big impact on all the economic sectors. If you are planning to buy a 3BHK flat in Gurgaon, you should visit Krisumi Japanese Waterfall Residencies.

Tips for Renting your Property in Gurgaon | Krisumi Waterfall Residences

Renting property in Gurgaon is a big deal. Looking for a hassle-free process to rent your property in Gurgaon? Then make sure you seek professional assistance from reliable sources to avoid any discrepancies. As one of the top real-estate groups in India, Krisumi is here to give you some valuable guidance and make real-estate investment a cakewalk for you!

Here are the Tips to Renting Your Property in Gurgaon:

1. Finalising the rent

The first step you need to take while renting your property is to assign a fixed rate amount. Before deciding on the amount, you must first perform a market check about the average rent prices in your locality and the current trend. A higher rent will make it pretty difficult for you to get a tenant. However, if you are fixated on getting a higher rate than the average market price, you need to justify the rent by offering extra features like complete furnishing and other premium services like top-notch security and garage services.

2. Proper Advertisement

Nowadays, most people visit various real estate websites to learn about nearby places for rent. Enlisting your 2BHK flat in Gurgaon on a popular real estate website with a catchy title is a good idea. These real estate websites have a column or a page called "house on rent", where thousands of homeowners post advertisements for the properties they are putting out on rent. To post your advertisement, all you have to do is create a profile with one such website, upload the correct details of the property along with photographs and then fix a rent. On the other hand, you can also try traditional methods like advertising in newspapers or getting in touch with a broker.

3. The Rent Agreement

While renting out your property, it is always advised that you make a legal contract. In this way, the entire process is legally documented so that there won't be any confusion in the future. While creating the rental agreement, make sure that the papers are duly signed by you and the tenant and that the terms and conditions are clearly mentioned.

4. Furnishing Details

While listing out your property on rent, you need to mention the furnishing details and also share details of every extra feature and fittings of the property. This documentation process will be useful in case the tenant damages any of the furniture. In such a scenario, you can always issue a penalty charge. Additionally, you also need to make sure that the walls and roof of your rental property are in good condition to avoid any conflicts.

5. Police Verification

It is crucial that you perform a background check on the tenant before renting the property. In this way, you can avoid all sources of trouble that may come with renting a property to a person with a criminal history. All you need to do is get the details of your tenant; you can ask for identity proof which you can cross-check from the state police department website or submit to a police station nearby to get the details. These are some of the things that you need to make sure of before renting out your property. Make sure that you mention all the terms and conditions correctly and clearly on the rent agreement. If you are looking for a 2BHK flat for sale in Gurgaon, you can always contact Krisumi Japanese Waterfall Residencies.

What is Carpet Area, Built-up Area and Super Built up Area?

Well, it is pretty common for home buyers to be confused about the terms and jargon used by property agents and realtors. While buying an apartment you might have heard of terms like Built-up area, super Built-up area, and carpet area, which in most cases are beyond the understanding of a common person. So if you are planning to buy an apartment, it is important to understand the difference between these three terms; therefore, you need to know what is carpet area, Built-up area and Super Built-up area.

In the article, we will discuss real estate technical terms in detail.

Carpet Area

Technically speaking carpet area is the area in your apartment that you can cover using a rug or a carpet. As per the RERA, the carpet area of an apartment is the net usable floor area. The area covered by the external walls is not included while calculating the carpet area; however, the internal partitions are considered.

How to Calculate Carpet Area?

Carpet Area = Area of the living room + bedroom + balconies + toilet - the thickness of the inner walls. According to the rules and regulations set by the RERA Act, the real estate agent is responsible for making the buyers aware of the total carpet area of the property. Therefore, the price of an apartment should be based on the carpet area.

Important Things About Carpet Area:

  • The developer has to include the carpet area on the sale agreement, sale deed and brochure.
  • You need to verify the carpet area on the brochure and the actual area.

Built-up Area

The Built-up area in an apartment is the sum of the actual carpet area and the space taken up by the walls. This area in an apartment also includes the terrace, flower beds, balconies, etc. It is always greater than the carpet area of the apartment. In most cases, the Built-up area is approximately 15 to 30% of the carpet area. For example, if the Built-up area of a 2BHK flat in Gurgaon is 1000 square feet, then the carpet area would be approximately 700 square feet.

How to calculate the Built-up area?

Built-up Area = Area of the balcony + Area of the walls + Carpet area.

Important things to know about Built-up Area

  • Most builders use the Built-up area to determine the actual area that can be used
  • You can calculate the estimated value of the carpet area by knowing the Built-up area

Super Built-up area

The area calculated, after adding the Built-up area of the property and the proportionate area of the common facilities in a residential housing project, is the super Built-up area. Some common facilities included in the calculation include the area of the garden, the park, the clubhouse, the swimming pool, the lobby, the lift shaft, the stairs, etc.

How to calculate the Super Built-up area?

Super Built-up Area = Built-up area of the apartment + the Common areas (swimming pool, lobby, lift, stairs)

Important things to know about the Super Built-up area

  • Remember that real estate deals based on the super Built-up area can be deceptive
  • However, if the developer is sharing the super Built-up area, you must ask them for a price breakdown of the different components used.
Before buying an apartment, you must know about the carpet area, Built-up area, and super Built-up area. This is because they are used to calculate the overall cost of the property. If you are looking to buy a 3BHK flat in Gurgaon, then a good idea would be to visit Krisumi Japanese Waterfall Residencies.

Flats for Sale in Gurgaon

Real estate investment is full of risks and uncertainties. However, if you want to play safe and profit from your investment, you can buy 2BHK flat in Gurgaon. In the past couple of years, investing in the city of Gurgaon has been proven much more beneficial than some other locations like Faridabad, Ghaziabad, Noida, etc. This is mainly due to the high standard of living, greater employment opportunities, rapid development of infrastructure, and increased property demands. These are the top reasons why both builders and buyers invest in Gurgaon’s real estate market. According to the BBC, buying residential and industrial properties is easier in Gurgaon than in Mumbai or Bangalore.

Why Gurgaon is the Ultimate Investment Destination?

If you are having doubts about investing in real estate in Gurgaon, you can go through the points mentioned below.

1. Gurgaon is a Leading Education Hub

Education institutions are one of the main factors that many buyers consider before investing in real estate. Gurgaon is home to some of the best schools in India. The city has over 195 plus government-operated schools and 50 plus CBSE affiliated schools and institutions.

2. The Rapid Metro Project

We expect seamless connectivity while investing in real estate in a metro city. For example, the Rapid Metro Project in Gurgaon has benefited a lot of commuters and has also positively impacted the real estate sector. The metro system has connected significant locations in Gurgaon like Sector 53 - 56.

3. Major IT Hub

The city of Gurgaon is one of the largest IT hubs of India. This makes it quite popular among property investors and their real-estate companies. In addition to this, the companies can easily find skilled employees in the city as it is close to other cities like Ghaziabad, Faridabad, and Delhi.

4. Smooth and Efficient Transport System

The transport system of Gurgaon is well maintained, and it offers you the freedom to choose from various transport methods. You can either choose a train, Delhi Metro, Rapid Metro, intercity buses, or avail ride-sharing services. Gurgaon has broad well-paved roads and 24/7 mobility that lets the city keep up with the pace of development. Additionally, if you invest in real estate in Gurgaon, you will have access to social convenience like malls and markets situated close to residential complexes.

5. Luxury Living

One of the main reasons home buyers prefer buying a Krisumi Gurgaon Apartments is the lavish lifestyle and exclusive amenities. The residents will have access to 36,000 sq ft resort club which is one of the biggest and the best in Gurgaon. The club is for family functions and it has high class features and electronic equipments. Each of the towers has 7 elevators, so the waiting time would be less than 30 seconds. Some of the other exclusive amenities include fully air conditioned entrance and air condition lobbies.

6. Growth in Healthcare Systems

Technology and modernization are prime factors why the city of Gurgaon has gained a lot of attention from the health care sector. The city has multi-specialty hospitals offering specialized health care services to both national and international patients. Also, these hospitals are located quite near the residential complexes. So in case of any emergency or serious medical condition, you can quickly rush to a nearby hospital or a nursing home.

7. High Appreciation Rate

The primary purpose of real estate investment is to get higher returns from it. Keeping in mind the real estate condition and the price trends of Gurgaon, it is wise to invest immediately. Looking at the quality of living, health care facilities, education facilities, and seamless connectivity, the appreciation rate of Gurgaon will undoubtedly see an upward slope in the upcoming years. Investing in real estate in Gurgaon will be one of the best decisions of your life. The city has reshaped its entire infrastructure in around 20 years. As the progress continues, the city will bring more opportunities for investors and home buyers. However, this is the perfect time for you to invest in the Flats for Sale in Gurgaon. Whether your purpose is to buy a commercial space or a residential complex, you are sure to earn a considerable profit.  

A Quick Guide for the First Time Homebuyers in Gurgaon

Are you searching for a home in Gurgaon? The real estate market in Gurgaon has been booming for the past few years. As more IT companies are setting up base in Gurgaon, the quality of life in the city is also improving. The real estate market also plays a big role in the development of a city. However, before you decide on buying your first home in Gurgaon, all homebuyers have to check the following things.

Go through the article to know about the main facts you need to remember before buying an apartment in Gurgaon.

1. The Reputation of the Builder

The name of the builder matters a lot. The apartment you are buying needs to have a good reputation in the market. For more details on the company, you can visit the previous projects and cross-check whether they provide the promised same facilities or not. When purchasing an under-construction apartment, make sure that you receive all the features, structure and amenities as the builder has promised. In this case, you can cross-check with other homebuyers who bought properties from the same company. Krisumi Waterfall Residences is offering good-quality apartments in Gurgaon along with modern amenities.

2. The Location of the Project

When buying a luxury residential apartment in Gurgaon, you must always consider the location. The apartment needs to be near basic amenities like a grocery store, medical stores and education institutions like schools. You also need to consider the travel time required to reach the city and your office. Your new apartment will be your home for quite some time. Hence, you need to choose an apartment with a proper location.

3. The Property Documents Checklist

Before buying a 2 BHK flat in Gurgaon, you need to verify all the documents. If you have any queries regarding the paperwork, verify them with a lawyer. You do not want to spend years in court trying to prove your ownership.

4. Amenities for homebuyers

Carefully go through the prospectus and find out about the basic amenities they offer. Some amenities include a community centre, swimming pool, gymnasium, kids play area and jogging track. You will love an open, airy and well-lit environment.

5. Water and Electrical Inspection of the House

As the city is growing it will be impossible to supply water to every resident. Many residencies have switched to rainwater harvesting and various other water-saving features. So, when you are searching for an apartment in Gurgaon, check the water source. You also need to know what the management does if there is water scarcity. It is a good idea to look for apartments where you can get 24x7 power backup so that your life is not affected. If it is not present, you can always buy an inverter or generator.

6. The Budget Factor

All the above-mentioned points will only be possible if you have enough bank balance. Getting an apartment is a huge decision, so you need to plan it carefully so that you do not face any hurdles in the future. Gurgaon is a flexible city and you can get thousands of apartments here. The city offers both luxurious properties and affordable apartments. Even, with a low budget, you can experience amazing city life and buy your dream house in Gurgaon. Krisumi Apartments in Gurgaon is situated at the best location and, you will have a wonderful experience here.

Real Estate Guide for Site Visits post pandemic

Post pandemic, property visits continue to be an integral part of the home buying process. A lot of virtual tours are offered by developers for property selection, but the final transaction is most unlikely on the basis of only the virtual experience. Site visits remain a decisive factor for a potential buyer. As a builder or property consultant, we have a proper real estate guide for a hassle-free site visit for the interested homebuyers. Based on the Covid-19 protocol advised by the Government of India, there are some easy practices to stay safe.

Check out the real estate guide followed by our real estate advisors for site visits:

No surprise visits

Ensure site visits to only genuine homebuyers and prefer arranging a well-planned meeting. To reduce the risk of being infected, kindly avoid surprise visits or walk-ins. We keep the property sanitized before and after every visit.

Prevent group visits

For a given date and time, we limit the number of people arriving for a site visit. Fix up prior appointments to avoid group visits. We ensure that everyone coming for a site visit has the Aarogya Setu mobile app and share their Covid exposure status before arrival.

Ensure complete sanitisation

When a buyer visits a property, he is liable to check all light fittings, kitchen facilities, door and window knobs to be sure of the property’s worth. And touching these various surfaces can increase the chance of virus transmission. It is advisable to sanitise all the common touch-points like doorknobs, switchboards, taps, doors and windows of a sample flat before and after every visit to ensure everyone’s safety.

Self-hygiene Assurance

Sanitisation spot is created at the entrance of our sample flat. Hand-sanitizer and disposable gloves are provided for prospective buyers visiting the property. We ensure that everyone follows the protocol. Dustbin is kept outside the property for visitors to dump trash on their way out. The windows are kept open or air filters are used for proper ventilation in the home.

Strict Adherence

Wearing proper masks and fully covered clothes will prevent from exposure. We ensure that this adherence is applied to both the property consultant and the visitors. For additional protection, face shields can also be advised on top of face masks.

Greeting norms

Nowadays, the trending norm to greet someone is an elbow bump or a foot shake. But these greetings may not look appropriate for these appointments. A welcoming verbal greeting should be enough. One should completely avoid handshakes altogether and maintain a minimum of six-foot distance during the home tour. For homebuyers who are looking for luxurious Apartments in Gurgaon, Krisumi Waterfall Residences looks to be the best option available. We adhere to all the precautions and our project is very safe for you to pay a visit to select your dream home.