RERA Act: Here are 10 Key Benefits for Home Buyers

With an objective to protect consumer interest and to bring efficiency and transparency into the country’s real estate sector, the Government of India implemented the RERA Act nationwide on May 1 this year.

10 Benefits for Home Buyers

“This regulator will govern all real estate transactions, thus improving the governance on the real estate sector by reducing disputes and making the system more transparent and robust,” affordable housing property builder VBHC’s head of sales-marketing and customer service Narasimha Swamy N said in a statement. 

Credit: 10 Key Benefits for Home Buyers

ICRA upgrades ratings for VBHC

ICRA (Investment Information and Credit Rating Agency) has upgraded the long-term rating of VBHC Value Homes Private Limited (VBHC, previously Value and Budget Housing Corporation Private Limited) to [ICRA]BBB+ (pronounced as ICRA triple B plus)from [ICRA]BBB (pronounced as ICRA triple B)1 for the company’s Rs. 77.50 crore (enhanced from Rs 70.00 crore) fund based facilities. The outlook on the long-term rating is stable.

Source: Realty Plus Magazine

ICRA upgrades long-term rating for VBHC

ICRA (Investment Information and Credit Rating Agency) has upgraded the long-term rating of VBHC Value Homes Private Limited (VBHC, previously Value and Budget Housing Corporation Private Limited) to [ICRA]BBB+ (pronounced as ICRA triple B plus)from [ICRA]BBB (pronounced as ICRA triple B)1 for the company’s Rs. 77.50 crore (enhanced from Rs 70.00 crore) fund based facilities. The outlook on the long-term rating is stable.

Source : Economic Times

VBHC to build premium houses, plans share sale

Affordable housing firm VBHC Value Homes Pvt. Ltd, which sells homes in the Rs16-40 lakh price bracket, will also build premium homes and is planning an initial public offering (IPO), said senior company executives.

VBHC Premium Houses

“The three fundamental positives for an IPO would be that the stock market has performed well, recent IPOs look good and the affordable housing sector continues to do good. The only negative would be that the real estate sector is still not doing well. So, the key to success (for an IPO) will be to separate affordable housing from the overall real estate sector,” said Jaithirth Rao, chairman, VBHC.

Source: VBHC to build premium houses, plans share sale

Buyer’s Checklist When Closing on a House Deal

Buyer’s Checklist When Closing on a House Deal

Buying a house is no small accomplishment! It involves a lot of legwork, scouring for  locations, arranging funds, negotiations, and momentous paperwork, among other things. Therefore, once you have zeroed on your dream property, you would definitely want to avoid any hiccups during the final closing stage.

Buyer’s Checklist When Closing on a House Deal

Let us look at a few critical parameters that need to be assessed, before you go ahead and make the final payment on your house.

  1. Legal Documents:

To avoid any unnecessary hiccups be diligent while verifying the legal formalities related to transfer of property ownership. Some of the critical documents that fall under this purview are the sales deed, share certificate, society papers, encumbrance certificates, sanction plans, etc. Also, ensure the property has been registered in your name with the authorized regulatory body. This simple step can help counter any title-related disputes.

  1. Amenities:

At the time booking, buyers are usually promised state-of-art amenities such as pristine swimming pools, play areas, green spaces, gorgeous landscaping, fully equipped gymnasium, clubhouse, etc. Before taking possession of your flat, make sure that the builder has honoured his side of the deal and has provided you with all the conveniences as per the promised specifications. Any disparities should be flagged and brought to the notice of the builder.

  1. Check for the Walls:

It may seem insignificant, but walls are what make a house and are undoubtedly the most important architectural element of a flat. Therefore, it is in your interest to check the walls for any chips, cracks, peeling of paint, leakages or dampness. In case of any damages, ask the builder to carry out the necessary repairs before you take possession of your house.

  1. Check the Fixtures:

Make sure all the fittings and fixtures are new and in working condition. Electrical wiring should be fault-free and of high durability. There should be a separate line of sufficient gauge wire for each air conditioner and heater. All the plug points, sockets and bulb holders should be connected to the main plug, and power back up facilities, if promised, must be provided. Bathroom and kitchen fitments must be in line with the specifications. Check the windows, grills and doors for any cracks, chips or any other form of damage. Clogging of drainpipes could be a nightmarish experience and that too an expensive one. Therefore, make it a point to check the drainage systems of your house. Bathrooms, balconies and the kitchen must be equipped with proper water outlets.

  1. Security Features:

Each of us aspires to live in an environment devoid of any danger or threat. To achieve this, make sure the builder has conformed to all the critical safety standards laid down by proper authorities, such as the National Building Code. There should appropriate provision for fire exits, fire extinguishers, smoke detectors, etc. In case of any discrepancy here, you must get it addressed before taking over the possession of your flat.

Adhere to these simple, yet important pointers to ensure that the closing process of your much awaited dream home is smooth and uncomplicated!