What do you mean by Real Estate Property valuation?

Real Estate Property valuation refers to the process which decides the latest market value of the property (land, house, apartment, duplex, villa etc). The valuation of property is done by considering several factors naming:- current market rates, demands & supply, property size, construction quality, location and connectivity, nearby-amenities etc. This process of Real Estate Property valuation is considered to be a very important step before real estate property sale or purchase because it helps in giving you the exact idea of your very property’s current net-worth. It is also helpful while applying for loans etc.

How do you describe a Leasehold Property?

Leasehold Property is a property for which the lessee owns temporary ownership and after completion of that temporary period, property goes back to its original owner/lesser, until the contract is renewed.

How do you describe a ‘Freehold Property’?

Freehold Property’ is aproperty whose ownership rights are passed on to the buyer completely.
Home Loans-

What are the factors on basis of which a bank or any other institution grants home loan?

Factors are:- your age, net annual/monthly income, educational qualifications, professional experience, assets, liabilities, employment tenure, your spouse/fiancé’s income, fixed deposits, bonds etc.

How do I repay the loan?

You need to repay it in EMIs (comprising of principal amount and interest) It starts the month following the month in which you receive your disbursement.

Who can be my co-applicants while applying for a home loan?

Most certainly, it is your wife or legal fiancé. Though you can keep other close relatives but the formers are most advised and preferred ones.

Can I take a loan for extension or re-development of my existing real estate property?

Although yes, but it also depends on loan granting organization’s policies.

What are :-
Carpet Area – is the area of a house/apartment which does not include wall covered areas.
Built-up Area – is the area that includes carpet area, area covered by walls and the balcony area.
Super Built-up Area – is the area that consists of built-up area and area covered by common places like gallery, elevators, stair-case and gardens etc.

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