How to Increase the Value of Your Home in Gurgaon?

November 23, 2022December 14, 2022Real Estate GuideLeave a comment

Are you planning to sell your home, and you are unsure whether you can sell it at higher profits? Performing a couple of improvements and upgrades and getting support from the right expert professionals can help increase the value of your home in Gurgaon by selling it at a higher price and bagging more profits for you. The value of a home is directly connected to its condition, including the interior décor and the maintenance of your property. If you aim to sell your home sooner, then it is important to understand the best to maximize its value in terms of making it appear appealing to potential buyers who wish to buy a new home around your area.

We have shared some tips on maximizing the value of your home in Gurgaon.

This way, you can ensure that your property is profitable and competitive in the real estate marketplace.

1. Try adding a coat of fresh paint

One of the easiest and most cost-effective ways of increasing your home's value is by painting it. Adding a fresh coat of paint to the interior doors and rooms will make your 3Bhk Flat in Gurgaon appears more alluring in the photos and open houses. Implementing neutral shades and hiring a professional painter if you refrain from a DIY job is a great idea. Keep in mind that you are focusing on enhancing your home's curb appeal to make it sell faster.

2. Upgrading the Finishes

In the real estate market, the great demand by home buyers is the updated finishes and appliances all around your home. It is the most significant choice to purchase energy-efficient countertops and stainless-steel appliances or install new lightbulbs. The inference is that the buyers never find the outdated finishes appealing as they need to fix them after they decide to move in. consequently, try implementing fresh updates to the finishes of your home to enhance the value of your property in the market.

3. Start cleaning & decluttering

The ideal way to enhance the value of your home is by getting a deep cleaning done and organizing your property in the best way before the eyes of your potential buyers. Nothing can be much worse for a few buyers, as if they are walking into a home, finding pet odors, or entering the house of a hoarder when they check the property photos online. Keep your home clean, declutters and remove the belongings not required, and get the flooring and carpet cleaned to make it appear appealing to the eyes of the onlookers.

4. Get a kitchen upgrade

For every potential buyer, the kitchen is the core element of their buying decision as they spend most of their time preparing and eating meals with family and friends. The major turnoffs are to have outdated cabinets, counters, and appliances which makes your buyer back off from buying your home. A complete remodeling may not be necessary, although it is wise to invest some amount into the kitchen before selling them for value addition to your home.

5. Update the Flooring

The flooring might not appear as an important attribute; however, for buyers, it is an important element, and you should consider updating it to enhance the value of your home if you wish to sell it at a profitable rate. Carpet is no longer the trend as buyers wish to have vinyl, tile, or wooden flooring across the real estate markets today. Smaller changes can make a huge impact, as noted by the real estate experts from Krisumi Japanese Waterfall Residencies. Implementing smaller changes in your surroundings can drastically enhance your home's value and impact the resale prices. The tips we mentioned today involve smaller adjustments and renovations to enhance the value of your home in Gurgaon.

How will a hike in repo rate impact you?

October 29, 2022December 1, 2022Real Estate GuideLeave a comment

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

Checklist for Renting your Property in Gurgaon

October 8, 2022December 2, 2022Real Estate GuideLeave a comment

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.

NRIs should Invest in Real Estate Market | Krisumi Waterfall Residences

Tips for NRIs Investing in the Indian Real Estate Market

August 27, 2022September 20, 2022Real Estate GuideLeave a comment

In the past couple of decades, there has been a steady rise in NRI investing in the real estate markets of India. According to recent statistics, out of the 80 billion US dollars India earned last year, more than 13 billion dollars was from the real estate market. Specific factors like the falling value of the Rupee and uncertainty in other investment options have made the path clear for investing in the real estate market.

Even though there are no specific restrictions, NRIs must know a few things before investing in the Indian real estate market.

1. Identify the best location.

Due to rapid urbanization and quick development, many areas in India have gained prominence. Certain places like IT hubs have become the top choice for investment as numerous IT organizations set up their offices. These localities are not only gaining popularity, but they are also experiencing unprecedented value appreciation. These factors make these areas attractive real estate investment destinations for NRI.

2. Choose a popular developer.

While buying Apartments or commercial properties, an NRI has to pick the correct builder who has enough experience in the market and is reliable. It is one of the essential factors that you have to keep in mind. Most NRIs looking to invest in 3BHK Flat in Gurgaon find it convenient to work with reputed and honest developers who usually have the necessary qualifications and certificates.

3. Housing loans available

Most banks and financial institutions in India offer NRIs funding options like housing loans. As the payment will be in INR, you have to open an NRE or NRO account. However, you need an excellent CIBIL score to qualify for a housing loan. Also, you need to have an Indian resident as a co-applicant.

4. Learn about RERA

As most builders and developers have to follow rules recommended by RERA, NRIs are also protected from any offenses or misdeeds of these builders. As an NRI, you can rest assured that the project will be completed within the deadline and receive all the promised aspects like carpet area and amenities.

5. No restriction on the number of properties

An NRI can invest in as many properties as they want. The only thing that they have to know is the type of tax liability they have to bear. As an NRI, you do not have to get any special permission to invest in real estate property in India. If you buy more than one property only one of them will be considered for their own self. The other properties will be categorized for leasing purposes. Therefore, the rent which you will receive from them will also be taxable. India is one of the fastest-growing real estate markets in the whole world. With the ability to withstand any type of pressure and even sustain recession on a global level, the Indian real estate market is a lucrative option for NRIs to invest in. Additionally, the rules and regulations in India are pretty lenient. If you are searching for a 2BHK flat for sale in Gurgaon, then you can visit the official website of Krisumi Japanese Waterfall Residences.

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