How to Use your Provident Fund to Finance a Home Purchase


Although A Majority Of The Salaried Individuals Have A Provident Fund Account, Only A Few Are Aware That They Can Withdraw From This Fund, For Various Purposes Connected With A House


For Purchase Of A House Or Plot Or For Construction Of A House


Under The Provident Fund Scheme, An Employee Can Withdraw Money From His Provident Fund, After Completion Of Contribution Of Five Years, For The Purchase Of Plot And/Or Construction Or Purchase Of A House. The Loan Can Also Be Taken, For The Construction Of A House On The Plot Of Land Owned By You Or Your Wife, Or Jointly By Both. The Loan Amount Would Depend On The Purpose For Which You Are Taking The Loan. For Purchasing A Plot, The Loan Available Shall Be Restricted To 24 Months Basic Salary And Dearness Allowance (DA), Subject To A Maximum Of The Lower Of Either The Balance In Your Provident Fund Account Or The Cost Of The Plot.


In Case You Want To Avail Of The Loan, To Purchase Or Construct A House, Availability Shall Be Enhanced To 36 Months Of Basic Salary And DA, With The Maximum Again Subject To Lower Of Balance In The Provident Fund Account Or Cost Of The House. It Is Pertinent To Note That The Property Cannot Be Purchased Jointly With Anybody Else, Except Your Spouse, For Withdrawing From The Provident Fund.


Provident Fund to Finance a Home Purchase
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In Case You Withdraw From Your Provident Fund Account, The Construction Should Begin Within Six Months And Be Completed Within 12 Months Of The Withdrawal. In Case You Intend To Buy A Ready House, The Purchase Also Needs To Be Completed Within Six Months. The Withdrawals For Purchase/Construction Can Be Made In One Or More Instalments, Depending On The Circumstances.


For Addition/Improvement Of The House Owned By Self And/Or The Spouse


You Are Also Entitled To Withdraw Money From Your Provident Fund Account, For Making Additions Or Improvements To A Residential House That Is Owned By You Or Your Wife Or Jointly. This Withdrawal Can Only Be Availed, After Five Years From Completion Of The House. It Is Not Necessary That The House For Which You Want To Carry Out The Improvements Should Be The Same, On Which You Had Availed The Withdrawal Facility. This Withdrawal For Improvement Can Be Availed, Even If You Have Not Availed Of The Withdrawal Facility For Purchase Or Construction Of The House. The Amount That You Are Eligible To Withdraw, For Improvement Or Addition, Is Restricted To 12 Month’s Basic Salary And DA, Subject To Lower Of The Balance Relatable To The Employee’s Share With Interest In Your Account Or The Cost Of Such Improvement.


You Can Also Avail Of The Withdrawal Facility Again, Only After 10 Years From The First Withdrawal, Subject To The Same Eligibility Criteria, Vis-A-Vis The Amount.


Advances For Repayment Of Housing Loan


The Provident Fund Scheme Allows You To Avail Of The Withdrawal Facility, For Repayment Of The Outstanding Balance In A Home Loan Taken By You Or Your Spouse For The Above Purposes. The Advance Amount Cannot Exceed 36 Months Of Basic Salary And DA. This Withdrawal Can Only Be Made For Loans, Availed Either By The Members Or By The Spouse, From Specified Entities Like Governments And State Government, Registered Co-Operative Society, State Housing Board, Nationalised Banks, Public Financial Institutions, Municipal Corporation, Or Any Development Authority, For Purchase Of A House.




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Maharashtra Bars Construction within 100 Feet of Hill Ranges


Mumbai : There Can Be No New Construction Within 100 Feet Of Foothills Across The State. The Area Will Have To Be Maintained As An Open Space And Reserved As A No-Development Zone.

Two Years After The Pune Bench Of The National Green Tribunal Ruled That No Permission Must Be Granted For Building Construction On Hill Tops (Where The Slope Ratio Is 1:5) As Well As 100 Feet Around The Foothills, The State Urban Development Department Has Directed All Municipal Corporations And Councils Across Maharashtra To Implement The Order.

There Are Essentially Three Hill Ranges In The Suburbs Close To Mumbai—The Kharghar Range (Part Of The Sahyadris), The Ulwe Hills And Those Along The Thane-Belapur Belt, Where Quarrying Also Happens.

A Plea Had Been Filed Before The Tribunal In 2014 Following Indiscriminate Cutting Of Hills In The Katraj Ghats In Pune. In 2015 The Tribunal Ordered That For 100 Feet From The Foothills Of The Hills No Building Construction Must Be Allowed.

The Notification States That Urban Local Bodies Whose Development Plan Is Under Preparation Or Is Being Amended Must Ensure That Such Area Is Marked As An NDZ (No-Development Zone) And Reserved As An Open Space. In Areas Where Development Has Already Been Carried Out No New Permissions Can Be Granted And Transfer Of Development Rights Must Not Be Permitted. In The Approved Development Plans, Such Areas Must Be Used Only As Open Spaces And For Roads, States The Notification.

A Navi Mumbai-Based RTI Activist, Anarjit Chauhan, Said The Latest State Government Notification Was A “Mockery” Of The Campaign To Protect Our Natural Heritage Like Hills. “No Development Within A Distance Of Just 100 Feet Is Too Small, And Will Not Serve As Any Deterrent For Encroachers And Land Sharks. There Should Be No Development For At Least 100 Metres In Order To Protect Our Battered Hill Ranges,” He Said.

“As Per The Existing Maharashtra Regional Town Planning Act, 1966, Section 14 (F), There Is Provision For Saving And Conserving Natural Hills, Wildlife, Landscapes, Etc. However, We All Know How Illegal Constructions, Mining And Suchlike Have Wrecked Havoc Upon Our Forests And Hills.”

Besides The Main Hill Ranges, There Are Also Smaller Hillocks At Nodes Like Nerul (Close To The R R Patil Municipal Garden) And Also Towards Dronagiri, Uran And Panvel Areas, Where Rampant Development Is Taking Place.

D Stalin, Director, NGO Vanashakti, Said Mumbai’s Hills Have Almost Disappeared. “The Hills Have Been Cut, Flattened Or Have Been Built Upon As In Case Of Malabar Hill. There Are Very Few Hills Surviving Such As The Worli Hill On Account Of The Water Reservoir Built Here, Parts Of Antop Hill, Dindoshi Hills Also Survive. Powai Hills Continue To Be Destroyed,” He Said.

Stalin Said Hills Hold Moisture And Water, Keep Areas Cool And Are An Essential Part Of The Natural Landscape. “The Order Will Help Save What Is Still Not Destroyed,” He Said.



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10 Timeless Home Decor Trends


Keep Your Style Fresh For Years To Come

Keeping Up With The Trends In Home Decor Can Be Tough. So This Year, Why Not Opt Out Of Following The Latest And Greatest, And Choose Timeless Home Decor Style Over Fleeting Fads? We’ve Got 10 Home Decor Trends That Will Keep Your Style Fresh For Years To Come.

2 BHK Apartments in Ghodbunder Road Thane
Credit : Pixabay.Com

1. Minimalism

No Matter What Year It Is, Less Is Always More. The Less You Have Crowding Your Shelves And Tables, The Better Your Home Will Look — And The Less You’ll Have To Dust! The Same Goes For The Layout Of Each Room. Stick With Furniture That’s Proportional To The Room So The Space Doesn’t Look Crowded.

2. Accent Color

Trendy Colors Change Year To Year And Season To Season, But A Room Always Needs A Bit Of Color To Really Pop. Rather Than Investing In An Orange Couch Or Painting The Living Room Aquamarine, Choose Accessories Such As Throw Pillows, Vases And Even Art In Bold Accent Shades. These Are Easy To Swap Out Every Season Or The Next Year.

3. Functional Furniture

As Chic As That Angular Chair With A Bucket Seat Looks In The Magazine, Don’t Buy Something On Which You Can’t Comfortably Sit. The Same Goes For Glass Coffee Tables (Too Much Potential For Breakage) And Shelves With No Space. Buy Home Decor Items That Are Meant To Be Used, Not Just Admired From Afar.

4. Comfort

Like Function, Comfort Is An Important Factor When Buying Furniture. It’s Not Timeless If You Have To Replace Your Couch Because You Just Can Never Relax On It. Buy Something That Looks Good And Also Feels Good.

5. Quality Over Quantity

Just Because You Have Shelves Doesn’t Mean They All Need To Be Overflowing, And Just Because You Have Walls Doesn’t Mean Every Square Inch Should Be Covered With A Painting Or Photo. Choose Art And Accessories Wisely: Shop Less Often For Unique And High-Quality Items Instead Of Over-Buying Just For The Sake Of Putting Something (Anything) On Your Walls.

2 BHK Apartments in Ghodbunder Road Thane
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6. Natural Lighting

If You Need To Buy Window Coverings, Choose Window Treatments That Let In The Most Light. Where There Is Minimal Natural Light, Invest In High-Quality Lighting Options That Give Your Space A Natural-Looking Glow.>

7. Durability

When It Comes To Home Decor, It’s Often Better To Splurge On Something That Will Stand The Test Of Time Rather Than Something Trendy, Yet Poorly Made. You’ll End Up Spending The Same Amount On Several Low-Cost, Low-Quality Items Versus One Well-Made Piece. Again, Shop Wisely.

8. Warm Tones

Shades Like Caramel, Plum And Ochre Are All Timeless Because They Warm Up Your Space. Whether You Paint A Room In A Warm Tone Or Stock Up On Accents In Those Shades, Your Home Will Look Chic And Cozy, Regardless Of The Latest Trends. 9

9. Shades Of Gray

In Fashion And In Home Decor, Gray Is A Shade That Isn’t Going Away. From Softer Tones To Slate To Gray With Hints Of Blue, This Timeless Color Looks Good Anywhere — Including On Counter Tops, Walls And Accessories.

10. Smart Storage

An Organized House Is A Happy House. Having Smart Storage Solutions Never Goes Out Of Style And Will Ensure Your Home Is Always In Order. From Wrought Iron Hooks To Classic Bookshelves, You Can Easily Make Storage Part Of Your Design Aesthetic.



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A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602


Need more money after taking a home loan? Opt for a ‘top-up’


If You Are Already Paying The EMI On An Existing Home Loan And Need More Money, You Can Opt For A Top-Up Loan. Here’s A Look At The Eligibility Criteria, Tenure And How You Can Take This Loan

When A Person Buys Any Property, It Generally Involves Taking A Home Loan And Also Exhausting A Substantial Amount Of One’s Savings, To Fund The Margin Money. Moreover, Home Buyers Also Try To Avail Of The Maximum Possible Loan Amount, To Get The Best Home. Sometimes, A Situation May Arise, Where You Need A Substantial Amount Of Money, While You Are Also Servicing An Existing Home Loan. There Is An Option Called A ‘Top-Up Home Loan’, To Deal With Such Situations.


When And From Whom Can You Get A Top-Up Loan?


A Top-Up Loan Is An Additional Amount That One Gets As A Loan, Over And Above Your Existing Home Loan.Various Lenders Have A Minimum Qualifying Period For Which The Original Home Loan Should Have Run, Before You Become Eligible For The Top-Up Loan. The Period Generally Varies From Six Months To One Year. Lenders Also Normally Insist That The House For Which The Loan Was Taken, Be Completed.

For Availing The Top-Up Home Loan, You Need To Have A Good Repayment Track Record On The Existing Home Loan. Otherwise, The Lender Will Not Commit Any Further Funds, When The Existing Loan Is Already At Stake.

If Your Existing Lender Is Not Willing To Give You A Top-Up Loan, You Can Always Approach Another Lender, To Transfer Your Loan Along With A Top-Up Loan. In Such A Case, You Will Have To Comply With All The Documentation And KYC Formalities, With The New Lender.


Quantum And Tenure Of The Loan


Your Income May Have Increased, After Your Original Home Loan Was Disbursed. Similarly, The Value Of The Property May Also Have Appreciated. Both These Factors Add To Your Overall Credit Eligibility. The Maximum Amount Of Top-Up Loan That You Can Get Will Differ, Depending On The Lender. Some Lenders Cap The Aggregate Of The Proposed Top-Up Loan And Balance Outstanding On Your Home Loan, To The Original Amount That Was Sanctioned For The Home Loan, Subject To The Margin Requirement And Your Income Level. Other Lenders May Calculate Your Overall Loan Eligibility, After Taking Into Account Your Present Income And A Margin Of Around 25%, On The Current Market Value Of The Home.

The Tenure Of The Top-Up Loan, Also Varies From Lender To Lender. The Maximum Top-Up Loan Tenure Is Generally Restricted To 15 Years. Some Lenders May Also Restrict The Tenure, To The Remaining Period Of The Home Loan, To Ensure That The Repayment Of The Home Loan As Well As The Top-Up Loan, Is Completed At The Same Time. The Maximum Tenure Of Your Top-Up Loan, Is Also Limited By The Residual Life Of The House.

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Purpose For Which Top-Up Loans Can Be Taken


The Top-Up Loan Can Be Used For Any Personal Need, Like Marriage Or Education Of Children, Holidays And Purchase Of Consumer Durables, Like Televisions, Refrigerators, Laptops, Etc. However, The Top-Up Loan Cannot Be Used For Any Speculative Activity, Like Trading In Shares, Etc. The Lender May Insist On Obtaining An Undertaking From You, About The Proposed Usage Of The Loan.


Why A Top-Up Loan Is Better Than A Personal Loan Or Gold Loan


As The Top-Up Loan Is Given On The Security Of The House, The Rates Of Interest Are Lower Than That On A Pure Personal Loan. Likewise, The Rate Of Interest On A Gold Loan, Is Also Higher Than A Top-Up Home Loan. Moreover, The Tenure Of A Gold Loan Or A Personal Loan, Is Generally Lower Than What Is Available On A Top-Up Home Loan.



Residential Projects In Thane Contact Ace Constructions Sales Office

Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602


Vastu Shastra tips for a sanctuary at home


With Regards To The Sanctuary Or Supplication Region In A Home, There Are A Few Vastu Shastra Rules That Ought To Be Taken After, To Guarantee Most Extreme Constructive Outcomes For The Home’s Occupants. We Analyze The Rules And Regulations

The Sanctuary At Home, Is A Holy Place Where We Adore God. In This Way, Normally, It Must Be A Positive And Tranquil Place. The Sanctuary Territory, When Set By Vastu Shastra, Can Bring Wellbeing, Success And Bliss To The House And Its Tenants. In Spite Of The Fact That A Different Puja Room Would Be Perfect, This Is Not Generally Conceivable In Metropolitan Urban Communities, Where There Is Space Crunch.

The Sanctuary Zone, Ought To Be A Zone Of Quietness That Is Loaded With Divine Vitality, Says Mumbai-Based Nitien Parmar Of VastuPlus. “This Is Where One Surrenders To The Almighty And Increases Quality. In The Event That One Doesn’t Have The Space To Assign A Whole Space For The Sanctuary, One Can Set Up A Little Holy Place On The East Divider, Towards The North-East Zone Of The House. Abstain From Setting The Sanctuary In The South, South-West Or South-East Zones Of House,” Includes Parmar.


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Perfect Headings According To Vastu For The Home Sanctuary

Jupiter Is The Master Of The North-East Bearing, Which Is Likewise Called As The As ‘Ishan Kona’, Clarifies Jayshree Dhamani, A Vastu Shastra And Soothsaying Master. “Ishan Is Ishwar Or God. That Is The Manner By Which It Is The Course Of God/Jupiter. Henceforth, It Is Prudent To Keep The Sanctuary There. Additionally, The World’s Tilt Is Likewise Towards The North-East Course Just And It Moves With The Beginning Stage Of The North-East. Subsequently, This Corner Resembles The Motor Of A Prepare, Which Pulls The Whole Prepare. The Position Of The Sanctuary Around There Of The House Is Additionally Similar To That – It Pulls The Energies Of The Whole House Towards It And After That, Takes It Forward,” Says Dhamani. A Sanctuary Put In The Focal Point Of The House – A Locale That Is Called As The Brahmasthan – Is Additionally Said To Be Propitious And Can Bring Thriving And Great Wellbeing For The Detainees, Includes Dhamani.


By What Method Should A Sanctuary At Home Be Built According To Vastu

Utilizing Sage Is A Prominent Method To Drive Out Negative Vitality. Consume The Leaves And Let The Smoke Fill Each Edge Of The House While Firmly Imagining Your Great Aims For Your Home.

With Regards To Building The Sanctuary, Don’t Put It Specifically On The Floor. Rather, Keep It On A Raised Stage Or Platform, Prompts Parmar. “The Sanctuary Ought To Be Made Of Marble Or Wood. Keep Away From Sanctuaries Produced Using Glass Or Acrylic. Try Not To Mess The Sanctuary. Guarantee That You Don’t Have Different Symbols Of A Similar God Or Goddess, Either In A Seating Or Standing Position In The Sanctuary. The Icon Or Photographs Put In The Sanctuary, Ought Not Be Broken Or Harmed, As It Considered Is Unpropitious,” Recommends Parmar.


Rules And Regulations For Brightening A Sanctuary At Home

The Light Or Diya, Ought To Be Put On The Correct Side Of The Individual Playing Out A Pooja.

Enhance The Sanctuary With New Blossoms. Light A Couple Of Fragrance Candles, Dhoop Or Incense Sticks, To Scrub The Range And Make A Heavenly Vibe.

Photos Of The Dead/Progenitors, Ought Not Be Kept In The Sanctuary.

Make A Little Retire Close To The Sanctuary, To Put The Incense, Puja Materials And Sacred Books.

Guarantee That There Are Electric Focuses Close To The Sanctuary, With The Goal That One Can Illuminate The Sanctuary Amid Happy Days.

Abstain From Keeping Pointless Things Underneath The Sanctuary Or Dustbins Around There.

A Few People Keep The Sanctuary In The Room Or Kitchen. In Such Cases, Hang A Window Ornament Before The Sanctuary, When You Are Not Utilizing The Sanctuary.

Sanctuary Ought Not Be Against A Divider That Has A Can Behind It. It Ought To Likewise Not Be Put Underneath A Can On The Upper Floor.

Abstain From Keeping Pointless Things Underneath The Sanctuary Or Dustbins Around There.For The Sanctuary Space, Utilize White, Beige, Lavender Or Light Yellow Hues.

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A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602



Bullet Train Project Launched; likely to be Operational by 2022


The Foundation Stone Of India’s First Bullet Train Project Has Been Laid At Ahmedabad. With An Estimated Cost Of Rs 1.1 Lakh Crore, The Project Is A Joint Venture Between The Indian Railways And Japanese Firm Shinkansen Technology.

The Project Is Expected To Become Functional By 2023. However, Indian Railways Minister, Piyush Goyal, Has Stated That The Government Has Plans To Launch The Mumbai-Ahmedabad High Speed Rail (MAHSR) Project On 15 August 2022.

The Proposed Bullet Train Will Run Between Gujarat And Mumbai, Carrying 750 Passengers With A Travel Time Of Around Three Hours At An Average Speed Of 250 Km Per Hour. The Top Speed Of The Bullet Train Would Be Around 320 Km Per Hour While Covering The 508 Km Stretch Between The Two States. More Than 90 Percent Of The Route Would Be Elevated And The Remaining Would Be Through A Tunnel And On The Ground. In Addition, A Seven Km Stretch Near Thane Will Be Built Under The Sea.

There Will Be 10 Stations On The Stretch Including Sabarmati, Anand, Vadodara, Bharuch, Surat, Bilimora, Vapi, Boisar, Virar, And Thane. 35 Bullet Trains Will Be Launched In The First Stage And This Will Later Be Increased To 105 By 2053.

The Maharashtra Government Has Finally Agreed To Vacate A 9,000 Sq M Plot For The Station Proposed At The Bandra-Kurla Complex On The Condition That The Railway Department Would Provide An Alternative Site To The State.

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India among top 10 price appreciating housing markets: Knight Frank


India Has Moved Up 13 Places, To Rank As The Ninth-Highest Price Appreciating Housing Market, Among 55 International Markets, According To The Knight Frank Global House Price Index Q2 2017

The Growth In Mainstream Residential Prices In India, Has Landed It A Place Among The Top Ten International Markets In The 12-Months To June 2017, According To The Global House Price Index For Q2 2017 By Knight Frank. The Country Stood Ninth, Among 55 International Markets – 13 Spots Above Its Position On The Index Over June 2016. It Even Bettered The Performance Over The Previous Quarter Wherein It Ranked 13th.

India Ranked 9th Among 55 International Markets – 13 Spots Above Its Position On The Index Over June 2016.

Matured Markets Such As Singapore And Japan Saw Negative Growth

Established More Than A Decade Ago, The Knight Frank Global House Price Index Allows Investors And Developers To Compare The Performance Of Mainstream Residential Markets Around The World. Compiled On A Quarterly Basis Using Official Government Statistics Or Central Bank Data, The Index’s Overall Performance Is Weighted By The Gross Domestic Product (GDP) On A Purchasing Power Parity Basis And The Latest Quarter’s Data Is Provisional, Pending The Release Of All The Countries’ Results. While The Overall Index Was A Comparison Of Residential Prices Up To The June-Ending Quarter Of 2017, In Case Of 16 Countries Including India, The Report Considered Data Until The March-Ending Quarter This Year.

Credit :Housing.Com


Housing Price Rise In India Versus International Markets


At An Annual Price Appreciation Of 10.5 Per Cent, India’s Residential Sector Outshined Matured Markets Such As China (9.6 Per Cent) And Did Nearly Four Times Better Than The Price Rise Recorded In The United Kingdom (2.8 Per Cent), Revealed The Report. Commenting On The Findings, Samantak Das, Chief Economist And National Director – Research, Knight Frank India Said, “The Residential Sector In Select Tier-2 Cities Such As Kochi, Lucknow And Kanpur, Have Triggered The Price Growth. However, Home Prices In Most Metro Cities Such As Chennai And Delhi, Have Not Shown Significant Performance.”


Markets With The Highest And Lowest Price Appreciation


Overall, Nearly 90 Per Cent Of The 55 Housing Markets Tracked On The Global House Price Index Witnessed A Flat Or Positive Price Growth In The 12-Month Period To June 2017. Iceland Topped The Index, With Year-On-Year Price Rise Of 23.2 Per Cent, Followed By Hong Kong (21.1 Per Cent). Prices In Both The Markets Primarily Strengthened Owing To Limited Supply And Healthy Surge In Demand, The Report Added.

Meanwhile, Matured Markets Such As Singapore (-2.1 Per Cent) And Japan (-0.2 Per Cent) Saw Negative Growth. While Hong Kong Emerged As Asia’s Strongest Market In The 12-Month Period, An Analysis Of Five Years Puts India In The Front, Recording An Average Price Growth Of 70 Per Cent, Edging Past 65 Per Cent Price Appreciation Witnessed In Hong Kong.



Residential Projects In Thane Contact Ace Constructions Sales Office



Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602