Necesary things to be considered before constructing house

How to save cost in construction?

In this age of escalating building material costs there are ways of saving cost while building a house. The architects and the masons should guide the house owner. Nevertheless there are some engineering and architectural techniques which if deployed will save costs and also ensure proper quality in construction. 

 

Tips on how to save on the wall plastering and the ceiling plaster can be advised by the architect. The architects say that most of the times the plaster is used to patch up the mistakes made by the workmen. Other tips of saving cost and use of cement is a well-planned space for the door and window space and this can also save the cost of redoing the walls. The architects feel that properly constructed walls can save cost up to 20 to 25 percent. 

The architect opines that as building a house is a lifetime affair for oneself one should be careful and cautious from the beginning itself. The pressure on the contractor sometime works, they say. They also say that many a times the laying of bricks are not proper and if questioned the answer is that the masons will make it up with cementing. This means use of more cement and wastage of money. The construction experts opine that it is better to make them redo the wall if such flaw is noticed right at the beginning rather than allowing making it up with cementing.  We enumerate below some of the steps which can be adopted while constructing a house which can save cost. 

 

 Usage of Steel

Rectangular rooms require lesser steel and in that even a 15 by 11 ft. room is also okay. The requirement of steel to support and strengthen it is lesser. 

Staircases

The staircase is strong with two beams and a couple of RCC beams as support. One has to be careful about the usage of cement by the mason or the contractor. 

Read More on Space saving Ideas for your home

Other cost saving tips:

Bricks of clay or Valapattanam bricks or even cement blocks can be used as all these require less cement.
The broken bricks and the `stone malba’ can be utilized for weathering the roof or construction of the compound wall. 
For a flat roof, clay tiles or Meyeder filler tiles can be used.


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The role of Property and Asset Management Services in Real Estate

The real estate has emerged as a sophisticated business and has a strong delivery model the two major related functions are the Property management and Asset management.

The Property Management is a controlled technique that assimilates people, place process and also technology to make sure that the daily operations and functions of the real estate are carried out smoothly. The task of property management involves handling of the mundane operational functions on behalf of the realty developers. These tasks include engineering, security, soft services and landscaping etc. Further this task also included planning and implementing strategic management plans such as coordination and obtaining service agreements. It also includes vendor and risk management, operational safety and health and also effective HR management.

The tern asset management is a long term function. It involves creating and implementing strategies to optimize the returns relating to finances form the assets of real estate. The asset management is also inclusive of the expanding streams of income. It also takes care of the lease management, risk mitigation and also enchantment of the utilization of the real estate in means of proper reimbursements and certain monetary refunds or returns.

                         

Both the Property Management and the Asset Management have their own importance. Both of them play an important role in the life cycle of the real estate. These two verticals play a key role in Pre Occupancy Management and Coordinating the physical design and plan. They also do the plan bench marking equipment and also manage other costs which are operational. They both work hand in hand keeping up the built environment and also help in minimizing the operational jeopardizes.

The current happening services of the infrastructure and optimization of the physical conditions are taken care by the renovation management. The real estate performance is stabilized by the practices carried out at a pre occupancy level by the professional management. As the property management and asset management are able to assemble various resources, technologies and capabilities it is benefited as there is a process efficiency and cost saving. Hence they strive hard to achieve the best possible delivery consequences.

     

The Current Picture

The real estate industry has grown in the past years and also over a decade. This has resulted in the enlarged attention on the supreme quality of infrastructure and buildings both by the sellers and buyers. Both these verticals of property and asset management will play an important role in the direct time and also in the long term future. Over the period of time the real estate developers have got the correct nerve that managing the property in a professional manner gives a very significant cost and also renders qualitative safety levels Getting these services outsourced helps the realty developers to concentrate on their main business and also provides the needed attention and dedication to the specialized service. Many developers now have turned towards the International Property Consultants and Developers who help them deliver with the best possible requirements for property and asset management.

In the present time the hiring of such services is no more an expenditure rather than it’s an important tool to manage the property and also a required necessity for its optimization. The uprising number of housing societies which use professional services like property and asset management is quite evident in the times of today. Thus, this will be an uprising industry in the future as huge number of projects are in the pipeline and hence is a need of an hour to go for services like these to get better business and returns in the matters of property in the realty sector.

Banks Perspective to determine home-loan eligibility

Buying a house through a bank loan calls for a lot of legal formalities to be followed. A lot of documentation also needs to be done. Henceforth buying a house is a very importance decision in an individual’s life and one should plan his or her finances very carefully when it come to take up a loan for your dream house. It is also essential that one should get adapted to the new lifestyle of the EMI Payment system of the home loan.

Now these days the banks have come up with certain rules and regulation regarding their system of providing loans to the individual who are investing and buying the property. There has been a set criterion for an individual to fulfill before he or she applies to a bank for a loan. This eligibility comprises of the maximum amount which an individual can avail. This eligibility may vary case per case depending on various factors.

A fair CIBIL Score

Credit Information Bureau India Limited (CIBIL) founded in the 2002 is an effective body that has assesses the credit worthiness of an individual. The assessment is done by collecting the information of the individual’s loan and credit card payments from all the banks on a regular month by month basis. It is one of the most premier factors as it determines the individual’s ability and the financial potential to repay the loan amount in due course of time. The major aim of the CIBIL is to track the financial transactions and also the detailed taking of how well an individual maintains his or her other accounts. The CIBIL also tracks all kinds of transaction made through different banks. They also keep an eye on skipped credit card payments and cheque bounces and the source of the property from where you are buying. All the banks in India require a clearance certificate from the CIBIL whenever an individual applies for a home loan.

The microscopic analysis by CIBIL is gauged between the ranges of 300 to 900. A fair score of 700 or more makes it much easier for a person to be eligible to apply for a home loan at very attractive interest rates.

Age and Income criteria

The income potential of an individual is determined by the Age, playing an essential role in determining the loan tenure. An increased loan tenure say from about 15 to 20 years can also increase the individual’s eligibility to secure a loan. Age factor is considered in the perspective of the repayment of home loan. Several other factors like the employment type, salary structure and other sources of income are also considered to define the eligibility criteria.

A strong current and past employment history 

A proper and accountable employment history will help you to get a housing loan easily but whereas as a questionable employment background and history might not work out when you go on applying for a housing loan. Banks determine the loan eligibility based on the net income depending upon the income tax returns. Well employed and salaried professionals are considered potential enough to repay their loans. The self- employed individuals have a rear chance to get eligible for getting a home loan.

Determining a CO-Applicant

It is always advisable to add a co- applicant of home loan. This can be beneficial in cases where an individual wants to avail higher loan amounts. This could be done by adding your parents and spouse name as a co- applicant. This not only adds value but also increases overall eligibility of an applicant to go for a huge amount of home loan. Such applications are favored as the loan repayment commitment is shared among people lowering the overall burden also reducing the risk.

Duration for the loan approval and the document checklist

After the required documents are collected, duration of about 3 to 15 working days is required to get an approval over the home loan. This duration can vary from bank to ban as per their operational timings.

• Identity Proof 
• Address Proof
• Proof Of Income
• Age Proof
• Educational Qualifications
• Financial and Property details

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