Home Loan for NRI - Simple Guidelines to make your home in India

You may have valid passport of India and other documents which proves that you are an Indian, but due to various reasons you may stay abroad for employment, have a tentative project, go on business or vacation. You have a dream to construct your house in India so that once you get back to India you can stay at your own home. No worries! NRI loans are made available through Reserve Bank of India norms. Any one who is residing outside India but holds an Indian passport will be considered for this type of loan.

Purpose of Non Resident India home loans are:

-For the purpose of construction of a house
-To carry out repairs and rennovations
-Buy a new or old flat or house
-Revamp your bed rooms, kitchen or courtyard etc.

Your needs are varied and there are home loans customised for Non residents Indians too. You may want to see a renovated house when you get back home by seeking fro funds from your hometown. Appoint some supervisor who will undertake all your house or flat renovation work on your behalf. When you are back from a foreign place, you can stay relaxed in the cozy comforts of your newly renovated home.

You can make use of your existing house as a security to pledge against your mortgage or secured loan. Have all your house documents in place so that you can carry out your loan transactions at ease while you are abroad. There are certain conditions that you need to satisfy such as:

Income Tax act of India states that:

You must have been in India for a total of one year or more

Or

You must have stayed for 182 days during the assessment year

If you satisfy any of the above conditions as stated in the provision of income tax you will qualify for these not so common or special loans. Make use of your existing residential property and release its equity to obtain a secured loan for your home needs.

Like any other normal house loan, you need to satisfy certain basic criteria such as credit score, collateral and housing loan documents. Besides this, you must have a valid Indian passport to prove that you are a resident of India and must have stayed for 182 days during the assessment year. If not, you must have stayed any time for a total of one year in India.

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Bangaluru - After IT now its Real Estate Hub

Bangaluru has over the years gained immense popularity as the hub for IT industries in India. With great opportunities like world class education, working environment, living standards it is not wrong to mention it as the “The Silicon Valley of India”.

Many non-Bangaloreans now call the city their home. It is interesting to note that over 10,000 dollar millionaires and about 60,000 super rich people are currently living in the city with huge investments to make. All these have made Bangalore a hot spot for Real Estate Market, both Residential and Commercial.

Residential market has seen some significant action with many developers like Prestige and Sunil Mantri, Sobha, rolling out new projects in micro market segment. Some of the key areas in Bangalore, where the residential demand has picked up, are Sarjapur Road and Whitefield, Doddakanenahalli and, Jayanagar.

The supply is growing in line with the revived commercial real estate demand. Latest report from Cushman & Wakefield implores that the total projected supply for the current year is 12.42 million square feet of office space, more than twice the supply delivered in the year 2009.

Indian Market Research Bureau (IMRB) conducted a survey among 5 cities, amongst individuals aged between 25-39 yrs, stated that Mumbai and Bangalore are the most preferred places to live as the cities provide the best quality of life as well as the most courteous people. Bangalore is also identified as a city which is in the process of development on multiple counters – numerous projects have been initiated in areas of Infrastructure, Power, Water, and Sanitation.

All this indicates that this will be a good investment destination, hence attracting FDIs and NRIs fund flows as time goes.

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Bathroom - Leave your stress here

Imagine a sanctuary that oozes elegance and simplicity, a serene and tranquil spa – like place where you can jumpstart your day or unwind and relax after a stressful day at work.

If you want a bathroom just like that – then an Asian ethnic bathroom can be just right for you. An Asian ethnic bathroom is perfect for people who like classy architectural designs that still have that earthy and relaxed dimension.

Asian ethnic bathroom designs are far from the lavish luxurious marble European or Victorian designs that we often see in hotels or mansions. The designs are usually more subdued, making use of overhead lights or lamps with soft glows, but nevertheless, still a luxury in itself. In terms of how your bathroom should be laid out, your Asian ethnic bathroom layout can be as ordinary as any other normal bathroom layout. The difference then would lie in the materials that are used in order to give it its own distinct Asian flair which. Asian style bathrooms can have colors that can range from vibrant and wild to natural and neutral.

If you have a huge bathroom with enough space for everything, you can go ahead with screaming Japanese red walls. However, natural or earthy colors are often better especially if you don’t have a huge bathroom space as these colors provide a sense of tranquility and serenity. Mother Nature is the main design factor for Asian ethnic bathroom styles. This is why flora is evident in Asian ethnic bathroom designs and décor. Bamboo tiles or bamboo print wallpapers (make sure that they’re waterproof). Other wood materials, like mahogany, may be used for wood tiles or armoires. The main shower and tub area can be designed depending on the Asian country of your choice.

Japanese usually have circular designs while the Chinese like wide spaces. Of course, if you have the space and the money, you can go all the way with a natural ethnic look by having a Jacuzzi or tub that’s made out of natural stone, or a shower area with a pebbled floor. For cabinets, wardrobes, and vanities - Asian ethnic bathroom vanities and Cabinets are usually made out of wood, helping it blend in with the whole natural and ethnic design. Fixtures, such as faucets, shower heads and booths can remain clean and simple straight lines. There are fixtures though, that come in the form of bamboos. Bathrooms on the first floor can make use of huge Windows that overlook tall and green Asian plants. This is a great Asian ethnic bathroom design idea.

Aside from providing a nice view from the bathroom, the foliage outside can have double purpose. It can serve as an inconspicuous cover – up or window protection, so you don’t have to be worried about people seeing you, should you be going about your business inside the bathroom. With these Asian ethnic bathroom design ideas, you’re well on your way to getting your own authentic Asian ethnic bathroom, one that’s worthy to be called a called a sanctuary and a spa at the same time.

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