The government this week announced guidelines for the implementation of Credit Linked Subsidy Scheme (CLSS) for home buyers in the middle income group (MIG) segment under Pradhan Mantri Awas Yojna (Urban). Here are the major pointers you should know about the scheme:


Will Govt's Home Loan Subsidy Scheme Benefit You?
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Who is eligible?

All middle class home buyers with annual incomes of above Rs 6 lakh and up to Rs 18 lakh per year will be eligible for receiving interest subsidy on housing loans under Pradhan Mantri Awas Yojna (Urban).

What’s the benefit?

Interest subsidy of 4% will be provided on housing loans of up to Rs 9 lakh of those with an income of Rs 12 lakh per year and of 3% on home loans of up to Rs 12 lakh of those earning Rs 18 lakh per year.

What’s excluded?

Housing loans above Rs 9 lakh and Rs 12 lakh will be at non-subsidised rates.

Till when is the scheme applicable?

The Credit Linked Subsidy Scheme (CLSS) for the Middle Income Group (MIG) was earlier valid till the end of December this year. However, the government in October 2017 extended the validity of interest subsidy benefit by 15 more months till March 2019.

Sizes of house applicable?

The government in November 2017 increased the carpet area in the MIG I category of CLSS from the existing 90 square metre to up to 120 square metre and increasing the carpet area in respect of MIG II category of CLSS from the existing 110 square metre to up to 150 square metre, effective January 1, 2017. The CLSS for MIG covers two income segments – MIG-I from Rs 6 lakh to Rs 12 lakh per annum income and MIG-II from Rs 12 lakh to Rs 18 lakh per annum.

What’s the loan tenure?

The tenure of home loans can be a maximum of 20 years or that preferred by the home buyer, whichever is lower.

Will you pay processing fee?

No processing fee will be charged by banks or housing finance companies from the applicants under CLSS.

What’s the reduction in EMI?

The interest subsidy of 4% under the scheme will bring down EMI by Rs 2,062 per month on a housing loan of Rs 9 lakh and interest subsidy of 3% will reduce the monthly outgo by Rs 2,019 on Rs 12 lakh loan, considering normal housing loan interest rate of 8.65%.

Who is getting preference?

The scheme gives preference to women with overriding preference to widows, single working women, people from scheduled castes and scheduled tribes, backward classes, differently abled and transgender people.

What’s the budgetary allocation?

The government has allocated Rs 1,000 crore in Union Budget this year for the CLSS (MIG) scheme.

Who’re the nodal agencies?

NHB and Housing and Urban Development Corporation (HUDCO) have been designated as central nodal agencies for implementation of CLSS for both MIG and EWS/LIG who would reimburse interest subsidy to primary lending institutions.


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December 2017

When the loan is of a high amount, like home loans usually are, even the slightest drop in your loan’s interest rate can make all the difference. So here’s what you can do to ensure that a home loan is offered to you at a low rate of interest.

The interest rate is the make or break factor when you’re selecting a loan. If it’s too high, the source of finance becomes entirely unaffordable. Since you’re looking for aid, you don’t want to end up increasing your financial burden in the long run. So, it is imperative that you focus your energy on securing the lowest interest rate possible when taking a Home Loan.

These 5 tactics will help you get an interest rate that is close to what you have in mind.


Leverage your credit score


Having spent all that time ensuring that your credit score is impeccable comes in handy when you’re looking to negotiate your home loan interest. The more stable your credit history, the higher your chances are of getting a Home Loan Interest Rate that is affordable. If your credit score needs work, clear your debts and avoid taking on more debt before you apply for a home loan. Even small things such as avoiding making purchases via a credit card will help.


Choose a shorter tenor


This may seem counterproductive, but hear us out. While it is true that when you have a long tenor your EMIs are low. However, the gross interest paid by you is higher. So, if you can pool in your finances, it is worth opting for a short tenor to keep the interest rate low.


Lowest Home Loan Interest Rate
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Take advantage of seasonal offers

Instead of jumping the gun, wait it out for a few weeks if possible. This way, you have time to evaluate all lenders thoroughly and pick a home loan that is ideal for you. But more importantly, this gives you a chance to take advantage of seasonal offers. Many financial institutions extend offers or discounts during festive seasons or as limited-period promotions. If you manage to time your application right, you’ll be able to get a significantly lower rate of interest on your home loan. So, if your credit needs are even slightly flexible, it is worth considering this tactic.


Lower your debt-to-income ratio


As the name suggests, your debt-to-income ratio is a measure of all your debts pitted against your income. Like your credit score, this ratio is also extremely important to maintain. As a thumb rule, ensure that your debts are far lower than your income to assure yourself a good interest rate. But, if your debt component seems high, take measures to clear as much of it as possible. Whether it is an outstanding education loan or a car loan, it is worth the effort to make a few large payments to tip the scales in your favour. With a lower debt to income ratio, you can convince your lender to give you a lower interest rate and find that repaying your home loan is easier than you imagined.


Don’t be scared to negotiate


If you have steady employment and your financial history is in order, don’t hesitate to verbally negotiate with your lender. You’ll be surprised at how it can help you shave off a few thousand rupees from your monthly EMIs. As long as you’re confident and you meet all the eligibility criteria, this is worth a shot. You have nothing to lose and you may be able to walk away with a better deal than you had anticipated!

With these 5 solutions up your sleeve, lowering your home loan interest rate is no longer a daunting, almost impossible task. For a home loan that truly puts your interests first, take a look at Bajaj Finserv’s Home Loan. It offers flexibility and is incredibly affordable too. Moreover, from 23rd November 2017 to 29th November 2017, you get a rate of interest of just 8.3% if your home loan’s value is above Rs.30 lakh.

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Source – MSN.COM




With several states in India offering benefits for women property buyers to boost their empowerment, we examine why it makes financial sense to register a property in a woman’s name

There are several benefits to buying a property in a woman’s name, either as the sole owner or as a joint owner, with governments and banks offering several sops.

“Aspiring home buyers can seek certain benefits including tax exemptions if a home is bought in a woman’s name. Such offers can also attract more women buyers to the realty sector,” points out Ashok Mohanani, CMD, Ekta World. Encouraging women to register assets in their name, also boosts women’s empowerment, he adds.


home loan
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Tax benefits


Experts explain that some of the obvious tax benefits of buying a home in the wife’s name, include an extra deduction of interest up to Rs 1.5 lakh every financial year, if the house is self-occupied. If a husband and wife are the joint owners of a property and if the wife has a separate source of income, then they can both claim tax deductions individually. The tax benefit will depend on the ownership share of each co-owner.


Discount on stamp duty charges


Several state governments in north India are now offering a partial waiver on stamp duty, for buyers registering properties in a woman’s name – either as a sole owner or as a joint owner.

“You can save 1%-2% on stamp duty, if the property is in a lady’s name. In Delhi, the stamp duty rate is 4% for women, compared to 6% for men. Moreover, if you are undergoing some financial setback and have some debts to repay, the property held in your wife’s name, does not come under the cover for your loss,” points out Sushil Raheja, CEO of Raheja Homes Builders & Developers..

Stamp duty charges for Women Vs Men

State/UT For Women For Men
Delhi 4% 6%
Haryanat 4% in rural areas and 6% in urban areas 6% in rural areas and 8% in urban areas
Rajasthan 4%* 5%

* As 1% rebate over normal rate


Discount on home loan interest rates


Many banks like SBI, ICICI and HDFC Bank, offer discounted rates on home loans for women borrowers. The prevailing interest rates for women borrowers are as mentioned below:

Interest rate for woman borrower Vs others

Bank Interest for Women borrower Interest Rate for others
SBI 8.35 – 8.85% 8.4 – 8.95%
ICICI 8.35 – 8.7% 8.4 – 8.85%
HDFC Ltd 8.35 – 9.05% 8.4 – 9.05%

Note: For amount < Rs 1 Cr


Things to keep in mind when buying a home in the wife’s name


Experts maintain that it is a good idea to buy a home in the name of one’s wife or in co-ownership. However, the wife can enjoy the tax benefit, only if she has a separate and genuine source of income. Moreover, if there is any legal dispute on the property, then both, the husband and wife, will be involved in the case. Therefore, home buyers should evaluate all possibilities, before making a final decision.

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Mumbai : The declining trend that engulfed luxury home prices across key Indian metros earlier this year has further intensified amid a global pattern of weakening prices, showed the Knight Frank Prime Global Cities Index Q3 2017.


The index that tracks the movement in luxury residential prices across 41 international cities, every quarter, rose by 4.2% in the year to September 2017. However, at least 19 of these cities saw a decline in annual growth.


While Delhi with 3.1% decline and Bengaluru with 0.8% drop recorded sharper negative growth, prices for luxury homes in Mumbai saw a marginal increase of 0.6% between September 2016 and September 2017, albeit on a declining trend.


Reflecting on the dismal performances all the three metros featured on the price index slid from their positions in the previous quarter. Delhi saw the biggest drop in rankings as it slipped from the 31st to the 36th position.


“Prime residential markets have been under immense pressure particularly since the event of demonetisation. While the move had an adverse impact on the overall residential market, luxury homes sales were worst hit. The quintessential wealthy investors known to take interests in such projects are missing courtesy better returns from other investment avenues,” said Samantak Das, Chief Economist and National Director – Research, Knight Frank India.


According to him, among the top three Indian cities the growth in price in this genre has been slowly tapering. While Mumbai maintained positive growth, albeit at an abysmally low rate, Delhi and Bengaluru witnessed negative growth.


“We foresee the trend to continue for at least 8- 12 months in this end-user driven market,” Das added.


Among global cities, Guangzhou continued to top the index with a staggering 36.3% price surge in luxury homes but the overall narrative for China was of a slower growth. While the annual prime price growth in Shanghai slipped from 19.7% last quarter to 14.9%, the rate of price growth decline in Beijing nearly halved from 15% to 7.2%, courtesy government enforced cooling measures.


However, the Asia Pacific dominated the ten rankings, with Seoul’s 11.2%, Sydney’s 11%) and Melbourne’s 10.4% rise.


Among luxury residential properties in Europe, Madrid, Paris and Berlin recorded robust growth. But other key markets such as Zurich, Vienna, Geneva and London ended the 12-month period witnessing a sharp price decline, the report said.

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Colours have a profound effect on individuals and can affect us on a physical, emotional, mental and spiritual level. We look at how you can choose the right colours for your home, to create a positive and happy environment

Colour or chroma therapy is an alternative method of healing, through the use of colours. When we gaze at colours, different energies are absorbed, as each colour has its own frequency and vibration. “We are constantly surrounded by a free flow of colours, through nature, the clothes that we wear and the space where we live or work. At different stages of our lives, we feel attracted to or repelled by different colours, depending on our emotional and mental needs,” says Amisha Mehta, an artist and colour therapist.

“If we do not receive a balance of the seven colours in the spectrum, our metabolism can be affected. For example, the lack of natural sunlight, can cause lethargy, tiredness and depression. There is no such thing as a good or bad colour. While a colour can have beneficial qualities, the same colour can also have a detrimental effect on us. Usually, too much of any colour will tip the scale. Thus, one must be careful while designing a home’s interiors and choose colours that aid the well-being and harmony of all the members residing in the house. Colours should be clear, bright or light. Muddy or dirty colours, reflect the negative aspect of that colour. There is nothing wrong with deeper rich tones, if they are also not murky in appearance,” suggests Mehta.


home loan
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The importance of colours in Vastu Shastra


The sun is the source of light and helps to sustain life on our planet. There is a direct relationship between the sun and the science of Vastu Shastra, as each direction has one color that influences it in a positive way, points out Mumbai-based Jayshree Dhamani, a Vastu and astrology expert. “Sunlight appears to be gold in colour but it contains seven different colours – violet, indigo, blue, green, yellow, orange and red. Each colour has a different wavelength. Suitable colours in the right direction, enhances the health and prosperity of the home’s inhabitants. If the wrong colours are used, then, it creates stress and conflicts in the minds of the inmates,” Dhamani adds.


How to select the right colours for your décor


It is better to choose warm colours in rooms where there is a lot of activity, such as the living room and dining room. For example, instead of red, one can use shades of burgundy, wine, terracotta, etc., as they are not overpowering.“A colour scheme that focusses on only one or two colours, can cause an imbalance in energy. It is not only the wall colour that has an impact, but also the colour of furnishings, paintings, plants and lights. So, the home should have a variety of colours,” says Mehta.

Yellow is the colour that is closest to sunshine and is regarded as cheerful colour. So, try and incorporate it in some way at home. People who are depressed, can add a dash of orange colour to their room, to develop optimism. “Someone who has tensions, body pains and sleeplessness, can opt for blue-coloured walls or curtains, to get relief. Similarly, people who do meditation and spiritual practices, can use violet colour in the room for calmness. One can also use lamps of different shades, to add specific colours to a room, as and when needed,” adds Dhamani.


Ideal colours for different areas of the house


  • Ceilings should always be white or in off-white colour, as it reflects light.
  • Natural shades like green (which symbolises life and growth), yellow (stability), orange (cheerfulness) and blue (aids concentration), are recommended for children’s rooms.
  • For the temple area, it is best to use purple or lavender, as it is associated with spirituality, peace and wisdom.
  • Orange evokes excitement and enthusiasm and is apt for an exercise room.
  • Avoid excessive use of black and grey, as it can give a depressing feel.
  • Red helps in increasing appetite. So, add subtle touches of red on the dining table, with red flowers or red table linen.
  • Bedrooms should be done up in soothing colours, such as pink, peach, light yellow, green and other light colours.
  • The colour pink is associated with romance. Similarly, red is the colour of passion but avoid too much of it in the bedroom, as it leads to aggression.


Vastu guide to choosing colours for different directions


Direction Ruling Planet Colour
East Sun White
West Saturn Blue
North Mercury Green
South Mars Coral red
South-west Rahu Green, pink
South-east Venus White, silver
North-west Moon White
North-east Jupiter Golden yellow

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You don’t need to spend a fortune on making your home look in the same class as the houses you see on TV appears. There are huge amounts of shabby and simple approaches to transform the insides of your home into a masterpiece.

When you choose that your home needs some interior rebuilding, you may quickly consider how costly and debilitating it will get. In any case, think about what, you don’t have to take seven days off and re-try the entire house starting with no outside help.

Indeed, we at Quikr trust that anybody can turn into a specialist in taking advantage of those plain white dividers or that unremarkable looking room.


All You Need Is A Little Color


It’s an ideal opportunity to take out those extra paint jars from capacity. Because the dividers are as of now painted does not imply that you can’t make your rooms much more delightful.

Utilize the paints to do up the sides of your bureau drawers, the vase that is feeling the loss of its sparkle, and possibly paint a few plates and hang them up on the divider to give your front room that aesthetic look.


Broken, And Still A Thing Of Beauty


Rather than discarding broken furniture, family unit things, and gems, breath life into them back utilizing these astute hacks.

  • Broken bassinets can be utilized as imaginative tables for kids. Basically take off one side of the bunk, paint the “table best”, and introduce a couple of racks for provisions.
  • who at any point thought smashed ceramics and vases had to be discarded? Include some gold or silver shading to pitch and utilize this blend to stick them back together.
  • Before you hurl that broken hoop into the junk, think about all the stunning ways that small dull piece can add to your home decor. Stick a magnet behind the knickknack and utilize it as ostentatious ice chest bling!
  • Nobody needs a split photograph outline lying around in the house, however don’t discard it! Tie or stick two or three strings between the edge and transform it into a kitsch stud holder. This is an unquestionably simple approach to look chic.


Old Toys Are Now Showpieces


No more grumblings about venturing on stray Lego pieces and old toys jumbling storage rooms. This is the niftiest method for transforming your insides into something that your neighbors won’t quit discussing.

The hands of little lego figures are the perfect size to hold little links set up. Paste these adorable minimal smaller than normal figures to the sides of an examination table or a TV stand, and wonder about how little things can have any kind of effect in the way your home looks.

You can likewise utilize old, exhausted tennis balls as improvised key or envelope holders. Set them up in advantageous places all through your home.

all the more appalling looking wires, not any more tangled links, and not any more lost keys.


Utilize Leftover Wrapping Paper For A Fancy Look


An excessive number of remaining present wrapper comes in the house after Christmas? Transform that old-looking bookshelf into something intriguing by fixing it with blessing wrap. A couple of minutes’ work and now the insides of your room have been lifted.


My Pleasure.


Blessing wrap can likewise be utilized as placemats, particularly for extraordinary events like gatherings or easygoing meals. Blend and match the blessing wrap placemats with your cutlery to liven up the feasting table.


A Wall Of Fame


In vogue cowpoke caps and those ever-sharp Michael Jackson ones need to be purchased each time you see them in light of the fact that, obviously, all the cool children have a pack. In any case, the pitiful truth is, we wind up hoarding these cool-looking, yet scarcely utilized accomplices to assemble tidy in organizers.

In this way, here’s the way you can at long last put each one of those caps to great utilize: energize hall dividers by hanging these up. Hotshot every one of those fedoras and trilbies by hanging them on nails or individual snares.

You can likewise spruce up your divider by transforming it into a stroll down the world of fond memories utilizing photos without the casings. You can mastermind them in any shape you’d like or simply have a ton of fun making a strange photograph arrangement.


Glad Thinking Back!


Tidying up and updating your insides gets less demanding and less expensive with these hacks. Is it accurate to say that you are prepared to go past these thoughts? At that point come look at the different home decorations and different administrations that will most likely prove to be useful.

RESIDENTIAL PROJECTS WAGHBIL THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 – 55

201, Prestige Precinct, Near Nitin Casting,
Almeida Road, Panchpakhadi
Thane West – 400604

Phone: 91-22-25985951-55

Email: prescon@prescon.in



Ratings agency Fitch Ratings expects the impact of implementation of Goods & Services Tax on real estate sector to be neutral.

Property developers will be subject to a final effective Goods & Services Tax rate of 12% on property sales, because the tax authorities will assume that land costs consist of one third of the sales price for which the 18% GST rate will not apply.

This will still be 7.5% points higher than the former 4.5% effective sales tax. However developer’s ability to claim input tax credits will also increase with the imposition of GST, because input credits can now be claimed against steel and cement, which are key raw materials.

“The impact of GST on property prices will not be significant if developers pass on these benefits to customers – we expect home prices to rise by no more than 1%-2% if the benefit of lower costs is passed on. The higher end of that range would apply to developers which cater to higher-income customer segments, where land prices are higher and profit margins wider,” Fitch Ratings said in its report.

0Fitch expects the impact of GST on property sales also to be limited because the tax will only apply to sales made after 1 July 2017, whereas most large homebuilder’s FYE18 (March 2018) revenue and cash flows will stem mainly from sales made before that.

Furthermore, sales contracted after 1 July off new projects should not be affected because developers should be able to reflect the impact of GST in new construction contracts. However, sales contracted after 1 July from existing projects – i.e. where construction is underway – may have to reflect the full 7.5% price increase stemming from GST, because renegotiating existing construction contracts with contractors may prove to be challenging.

The ratings agency believes that property sales will weaken for one to two quarters as a result, but we expect sales to normalise beyond that time frame. Over the medium term, developers may be encouraged to pass on the cost benefits to customers to comply with the anti-profiteering clause introduced in the Central Goods and Services Tax of 2017.

It expects that developers may also choose to pass on cost benefits to customers to try and limit a prolonged slowdown in property sales, in an industry where demand/supply fundamentals are already weak.

Among rated companies, Indiabulls Real Estate Limited (IBREL, B+/Stable) has some headroom in its rating to weather a longer-than-expected weakening in sales, and this is reflected in Stable Outlook. Lodha Developers (B/Negative) has limited rating headroom because of leverage which is already high, and this is captured in our Negative Outlook, Fitch added.

RESIDENTIAL PROJECTS WAGHBIL THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 – 55

201, Prestige Precinct, Near Nitin Casting,
Almeida Road, Panchpakhadi
Thane West – 400604

Phone: 91-22-25985951-55

Email: prescon@prescon.in