#santhoshapuram

[sriyavenugopal]

Santhoshapuram- A Fast Growing Suburb in South Chennai

Owning a property in one of the popular city like Chennai is not only a dream of those living there but of almost everyone in the state. With property prices soaring in the heart of the city coupled with non-availability of land at the city centre, have led many home seekers to consider investing in the suburbs of Chennai. Well, suburbs towards the south of Chennai are gaining momentum in this regard mainly due to the excellent connectivity they offer to the other parts of the state and to IT corridor.

Several areas in South Chennai have already developed and real estate market in these areas has been prospering well. These areas include Tambaram, Medavakkam, Pallikkaranai, Velachery, etc. Now, one area that is highly liveable and has all sorts of amenities in South Chennai is Santhoshapuram. Real estate in this suburb seems to be on the surge. More and more people are considering lands for sale in Santhoshapuram as a secondary investment.

Besides, lands at Santhoshapuram are available at affordable prices right now, and this may not be the case in the years to come. Investing in lands in Santhoshapuram seems to be a long term investment and one can construct a large luxurious independent house in the land bought today at an affordable cost in this area. Currently, the price of residential land in Santhoshapuram seems to be a reasonable INR 3880 per square feet.

For those who are looking forward to invest in flats, good news is that several builders are coming up with apartment complexes featuring a range of 1 BHK, 2 BHK and 3 BHK flats. To attract investors and home seekers, they are offering a range of modern amenities and facilities. 1 BHK flats in Santhoshapuram seem to be an ideal investment for the middle income group.

Since the corresponding builders are capable of arranging home loans for the buyers, this is definitely a ‘don’t miss’ opportunity for the middle class people. Home loans can be re-paid in easy monthly instalments. Besides, recently, the RBI has cut down the repo rate on home loans considerably and hence buying a home by availing a home loan is highly recommended by experts in the industry.

[sriyavenugopal]

Ten Real Estate Jargons Thatare Important to Know

South Chennai has seen immense growth in the real estate market due to development of various MNCs and infrastructure. South Chennai is well connected to the main city and to the IT hubs, making it easy for the people to commute. All these facilities makes it a lucrative destination for the investors and home buyers. As plots are also available, your dream of building an independent house in Santhoshapuram is very much feasible. While buying a home, you only need to deal with the various real estate jargons and finalise the contract.

When you start looking up for a house and visit the real estate offices you come across various terms which may really give you a tough time.

Here is a list of ten such real estate jargons which can make things easier for you.

1. Carpet Area: Carpet area is the exact usable area inside the house. It is area which is calculated from the inner wall to wall and also includes the staircase, if any.

2. Built-up Area: Along with the carpet area, this includes the area of the walls of your house  and is generally 10 % more that the carpet area.

3. Super Built-up Area: It is the sum of the built-up area and the common space like staircase, corridor club house, etc. It is generally 25% more than the built –up area.

4. Loading: It is the difference between carpet area and buit-up area.

5. Stamp Duty: This the tax you need to pay to the Government when you buy a property.

6. Registration Fee: This you have to pay, whn you buy a house, for example, if you select a property from Santhoshapuram house sale, you need to register the property. The Government charges an amount for processing the registration of the property sale document.

7. Freehold: It is a completely exclusive right to own a land for an indefinite period of time.

8. Leasehold: It is your right to possess a property for a fixed period of time.

9. FSI/FAR: Floor Space Index and Floor Area Ratio are same as it represents the ratio obtained by dividing the gross floor area with the total size of land where your house stands.

10. Stilt Parking: A parking with a roof over it is termed as stilt parking in the real estate terms.

Know the in and out of these terms to get a clear view of your property.