Raja housing review for Better Option: Renting or Owning Your Apartment

Most of the apartment owners think over the idea of renting out their homes though they may be in need of extra income to save money or pay down bills, or mortgages as well.  Although, homeowners who are unable to sell their apartment at their expected price due to market down, they may choose to rent their apartment until the market strategies improve.

But, renting involves far more than handing over the keys and collecting the rental amounts.  Hence, it is important to evaluate the pros and cons of renting an apartment before doing so.  There are numerous benefits in renting an apartment, but there are also some disadvantages.  Here are some points, which one must consider before renting their apartment:

Organize your apartment
Before renting your apartment, organize it by cleaning it thoroughly and ensure all appliances in your apartment are working and in good condition.

2. Understand the responsibility involved

First, determine whether you can handle the obligation of renting your apartment and it is secure to presume that things may sometimes fall short.  As a landlord, it is now your responsibility of maintenance, collect rent, and pay your home insurance policy.  Though now you are the landlord, try to avoid creating more fuss to your tenants by interfering and keeping an eye on your tenant's housekeeping skills.

3. Consult your attorney

Before renting your apartment, consult your attorney to ensure that you abide to tax laws and rules of the local properties.  According to IRS the rental income should be documented on your tax return and you will qualify for tax deductions.

4. Cost of the rent
Before setting a cost as rent to your apartment, make a little research and check for the rental value on the surroundings of your area.  Keep in mind, as prospective tenants will be looking for deals, so set an attractive price as rent and make sure you highlight all the most important features of your home.

5. Choose your tenant carefully
Once you have shown you apartment to a tenant, be very careful in choosing a genuine tenant, ask for their identify proofs to be more secure and if you have time check for the tenants background and credit histories.  When you found your right tenant, ask for a reasonable security deposit, which is also termed as advance, arrange an appropriate payment schedule and explain them all the terms and conditions that you would have prepared.
 
The benefits of renting are many that include avoiding the damage caused by letting your apartment sit vacant, tax deductions, generating income that may cover some of your bills or insurance.

During market down, renting your apartment is an ideal idea until and unless the apartment owners don’t create too much frustration to the tenants though it is still your apartment.

Raja Aristos case studies - Investing in Marathahalli of Rs 40 lakh Gains a Rent of 16K Every Month

Investing in an apartment in Marathahalli of Rs 40 lakh can gain a rent of Rs 16,000 to 17,000 each month. The locality is the top grosser at 4.94 percent in terms of per annum yield in Bangalore.

Investors benefit is not just a high rental returns, but the locality will also be able to manage a 9 percent of growth rate during July-September 2013 quarter.

Let us check why Marathahalli stands on the top in high performing localities in the city. First of all Marathahalli is located close to Outer Ring Road. When you move to Outer Ring Road, you can come across the entire major cities. As Outer Ring Road is a Signal free road it is the biggest advantage for this locality. It is hardly 1-2 km from Marathahalli.

The 6 lane railway over bridge begins from Marthahalli Junction and enters to Kundalahalli area and HAL Airport Road. The closeness to areas such as HSR Layout, Whitefield and KR Puram drives through property values in the locality.

Sometimes it would be reasonable to purchase an apartment in Marthahalli than Whitefield. Whereas a size of 1,000 sq.ft. Apartment is available at Rs 40-45 lakh in Marathahalli but the same size apartment shall be sold at Rs 40-45 lakh. Now it’s left to an investor whether he chooses big apartment in Marathahalli for the same cost or save 10% of his funds.

But the question is whether the locality has enough number of properties. Yes in this case Marathahalli is a purchasers market. In this area there are 20 new projects under progress. There are many real estate developers who are going to start up with multi-storey projects.

 As Marathahalli is one of the well know locality in Bangalore and it is surrounded with IT hubs, hospitals, shopping complex schools and engineering colleges for the benefit of the residents. Anyone who has a dream of buying or constructing a house in Bangalore sure will buy a plot in Marathahalli for his benefits.

Many promoters are coming to construct houses in this area with salient features. As there are many IT companies around Marathahalli, due to which there is a high demand for rented house in the locality. The locality also sees hike in rental prices.

Marathahalli has developed towards concrete locale due to which margin for rental and sale value has increased significantly. The benefit to invest in Marathahalli is due the unparalled connectivity of Outer Ring Road.

Marathahalli is the central location in Bangalore where there is ever demand for the land for the features it contains. Compared to other areas of the city Marathahalli stands top most of the localities. People who invest in Marathahalli for buying a plot or constructing an apartment gains good profit.

Plots in Marathahalli are almost of A Katha type, this will help the buyer to get easy loans from banks. It would be a good idea to invest in a place like Marathahalli which offers decent living in a best house. Because investing in Prime location can double the amount in short period of time and can gain high profit without no loss.

Most people prefer Marathahalli to build or buy their dream home, as it is near to IT companies, Super markets, Shopping Complex, Restaurants, Multiplex etc. Due to which the demand for rented house has also increased in this locality. Due to Outer Ring Road people reach to their place very fast without any traffic signal.

Rental value in Marathahalli has increased by 20 percent and expected to rise more in future due to demand that exceeds supply. As this area is calm, quiet and near to IT companies many individuals prefer to live in this locale. As it is near to Tech parks and IT hubs, the location has become famous for IT population.

This area is outstanding as it is just 5 Km from Tech Park and Ring Road is just a Kilometer away. The rental value of 2 BHK and 3 BHK apartments will be approximately Rs 25,000 to 30,000 per month, with all basic facilities. The rental values are appreciating in this area.

72 Constructed houses are laying Vacant Under The Scheme - Raja Aristos News

As the allotment of homes created beneath the Integrated Housing development scheme for landless persons has become a troublesome task for the Hamirpur Municipal Committee due to increase of costs and problem in finding beneficiaries, under the scheme 72 constructed houses are lying vacant.

The construction of 72 dwellings near the Zonal Hospital was completed by the Urban Housing Development Corporation over two years. These houses have not been assigned to the poor and the Municipal Committee is not showing any interest in maintaining the newly build building.

This project was sponsored by Central Government Programme and on the construction of the building Rs 475 lakh was spent.

At the time of the development of those homes, the calculable price was unbroken nearly Rs 1 lakh per unit, however delay within the construction and rise within the value of construction material has escalated its price to around Rs 3 lakh per unit.

The beneficiaries are not coming front in taking possession of the houses due to delay in the development which has increased the cost.

The houses after building were to be assigned by Hamirpur Municipal Council, but still these have not been handed over to the MC.

President of Hamirpur told that soon after seeking the possession of the building these will be allotted to entitled beneficiaries.

Under the Central scheme 42 persons have applied for the constructed houses. And the houses will be allotted to them after verifying their eligibility.