Changes That Will Affect Your Home Purchase !

A Look At The Important Budget 2017-18 Announcements And Their Implications For Seekers

The Budget 2017-18 Is Largely Positive For The Real Estate Sector. It Focuses On Stimulating Growth And Simplifying Laws To Enable Easier Administration. The Key Changes For The Sector Are As Follows: The Deduction Of 100% Of Profits For Certain Projects In The Affordable Housing Segment, Introduced In The Previous Budget Has Been Ftuther Rationalised Keeping In Mind The Practicalities Involved In Execution Of Realty Projects.

Time Limit

One Such Move Is The Extension In The Time Limit Allowed For Completion Of Projects To 5 Years Thereby Allowing Sufficient Time For The Developers To Complete Such Projects, Which Are Usually Large Scale. Furtheir, The Move From Built Up Area To Carpet Area For The Determination Of Size Restrictions Will Mean Larger Houses For The Segment. The Earlier Restriction Of Smaller Sizes Of 30 Metres For Peripheral Areas Of Metros Cities Is Now Retaxed And Thus The Incentive Is Likely To Spill Over To Such Locations, Which Could Incentivize Builders To Plan More Homes In The Affordable Segment Around The City Seams.

The Period For Characterization Of An Immovable Property As Long Term Has Been Reduced From 36 Months To 24 Months. Further. The Gamut Of Specified Assets Under Section 54EC For The Purpose Of Exemption Of Capital Gains Has Been Enlarged.

Improved Liquidity

This Improved Liquidity Will Unlock ‘Lands Which Were Otherwise Blocked In Real Estate Assets Only To Qualify For The Lower Tax Rate Under Long Term Capital Gains. It Also Puts Funds To Use In Fttrtherance Of Government Identified Objectives Like Infrastructure Through These Bonds. Further, It Is Proposed That The Base Year For Computing Long Term Capital Gains Should Be Moved From 1981 To 2001. This Change Should Considerably Reduce The Capital Gains Liability For Old Assets. In The Midst Of Interest Rate Subventions For Home Loans In The Specified Category And Easier Capital Gains Provisions Like Above, One Amendment Which

Hurts The Home Buyer Is That Of Limiting The Set Off Of Loss Under House Property. Essentially Set Off Of Interest Paid On Acquisition Of House Property Against Other Incomes Like Salary. Income From Other Sources Etc Has Been Restricted To Two Lakh In A Year. The Earlier Law In This Regard Allowed The Entire Interest To Be Set Off Against Other Incomes Under The Aforesaid Heads In Case The House Property Was Let Out.


The Above, Comes Along With Many Other Efforts That Will Boost The Sector And Further The Prime Ministers Dream Of Housing For All By 2022 The Most Celebrated One Being Industry Status To Affordable Housing, Increase In The Allocation To PMAY And The Permitted Re-Financing Of Individual Housing Loans By National Housing Bank.

The Target Of Building One Crore Houses By 2019 In Rural India And The Thrust To Infrastructure In The Form Of New Policy On Metro Rail And Increase Of Budget Allocation To Highways Will Positively Impact The Sector And Decongest Prime Areas And Cities.

Land Supply

Ironing Out The Issue Of Tax De-Ducted At Source In Case Of Com-Pensation Received On Compulsory Acquisition Of Land Where The Compensation Is Otherwise Exempted From Tax Is Another Move, Which Reduces Undue Hardships For Assesses. The Proposal To Amend Air-Ports Authority Of India Act To En-Able Effective Monetisat Ton Of Land Assets Will Increase Much Needed Supply Of Land For Development. While The Honourable Finance Minister Has Ironed Out Certain Difficulties For Tax Payers, Some Of The Much Awaited Changes Like In-Crease In Deductions With Respect To Rents Or Revision In Limits For Interest Deductions For Self-Occupied House Properties Have Been Left Unchanged. Lastly The Promise To Consider FUrther Liberalisation Of The FDI Policy Shall Provide The Necessary Impetus To The Sector In Terms Of Easier And Quicker Access To For-Eign Capital.



Studio Flats In Thane Contact Ace Constructions Sales Office

Ace Constructions

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

Wallpapers: For Quick and Inexpensive Makeovers

Want A Textured Look On Your Walls Or A Scenic Backdrop, Without Having To Spend Too Much Money? We Tell You Ways In Which You Can Use Wallpapers, To Create A Decor Statement And Uplift The Feel Of A Space

Smart Use Of Wallpaper Can Add Sparkle To A Space And Complement The Overall Design Of The Room. Wallpapers Of Vibrant Colours, Textures And Materials Can Also Be Used As Accent Elements For The Entire Room.

“With A Wide Range Of Wallpapers, From 3D Stone Walls To Beautiful Hawaiian Scenery And Artistic Patterns Now Available In The Market, It Can Be Used To Immediately Set The Mood For A Space,” States Prashant Chauhan, Creative Director Of Zero 9 Design Firm.

Apart From The Ones That Are Available, Home Owners Can Also Opt For Customised Wallpapers – One Can Use Print Wallpapers With Metallic Patterns, To Make The Space More Regal, Or Opt For Contrasting Colours Of One’s Choice, To Brighten Up A Space.


Beauty As Well As Utility

Besides Aesthetic Appeal, Wallpapers Also Have Utility Value. “For Example, The ‘Writable Wallpaper’ Makes Perfect Sense For Homes With Children, Who May Try To Scribble On The Walls, As These Writings Can Be Easily Erased. Wallpapers With Higher Sound Absorbing Capacity Can Be Used In Home-Offices Or Meditation Spaces, Which Require Lesser Sound Interference,” Adds Chauhan.

Wallpapers Are A Reliable And Simple Way To Transform One’s Home During Festivals. Putting Up Wallpaper Is Not At All Time Consuming, Maintains Interior Designer Anish Motwani, Of Anish Motwani Associate. “However, If The Wall Has Any Leakage Problem, Then, The Wallpaper Will Peel Off. The Leakage Has To Be Stopped First And Wall Has To Be Treated. Small Cracks, Dampness, Etc., Should Be Repaired Before The Wallpaper Is Used,” Advises Motwani.

For Every Room

Light-Coloured Wallpapers, With Patterns That Add A Little Shine To The Surface, Are Ideal For The Living Room. Radhika Shahane, A Home Maker From Pune, Used The Colour White Extensively In Her Home’s Walls. “White Walls Make The Room Appear Spacious And Sophisticated. To Break The Monotony, I Used A Red Floral Print Wallpaper For The Dining Area. It Had A Dramatic Effect And Brightened Up The Entire Room,” She Shares. “To Make The Living Room Appear Glamorous, One Can Also Opt For Red And Gold Or Silver And Blue Wallpapers, As A Highlight On One Of The Walls,” Suggests Motwani.

Textured Wallpapers In A Neutral Colour, Can Be Used On The Wall Where The Television Is Mounted, Behind The Sofa Set, Behind The Bed, Or Even On The Entry Foyer Of The House. For The Children’s Room Opt For Writable/Washable Wallpapers, Or Even Themed Wallpapers Of Their Favourite Cartoons. For The Master Bedroom, It Is Advisable To Choose Cosy And Darker Tones.

How To Choose The Right Wallpaper

1.Decide The Theme Of The Room First And Then Select The Wallpaper (Floral Or Geometric Patterns, Vintage Or Indian Designs, Scenic Pictures, Animated Characters, Or Wallpapers With Silk, Vinyl, Jute, Velvet Or Metallic Effect).
2.The Patterns Should Match And Complement The Curtains And Other Upholstery.
3.Use Only One Or Two Hues Throughout The Room, To Avoid Visual Clutter.

One Can Choose Wallpapers From Various Brands, Such As Marshalls, India Circus (Krsna Mehta), Elementto, D’decor And Nilaya By Asian Paints. The Biggest Advantage Of Using Wallpapers, Is That It Can Be Changed Easily And Is Available In Various Budgets.


1.In Small Spaces, Vibrant Wallpapers Should Be Used Sparingly As A Bright Accent.
2.To Add A Luxurious Feel, Use Wallpapers With A Metallic Gold Effect.
3.Always Ensure That Good Quality Adhesive Is Used.
4.Avoid Wallpapers With Big Patterns, If The Room Is Small. Instead, Opt For Small Motifs That Make The Room Look Spacious.
5.Good Quality Wallpapers Will Easily Last For Five Years, If Used In A Proper Way.

Real Estate Property In Ghodbunder Road Contact Ace Constructions Sales Office

Ace Constructions

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

How are Home Loan Rates Charged by Banks and Housing Finance Companies

Basis Of Home Loan Interest Rates Charged By Housing Finance Companies

Housing Finance Companies (HFCs) Are Regulated By The National Housing Bank Limited (NHB), A Subsidiary Of The RBI. The Funding Of Housing Finance Companies, Is Different From Those Of Banks. So, The Basis Of Charging Interest On Home Loans Granted By Housing Finance Companies, Is Also Different From The One Adopted By Banks. These Companies Base Their Actual Lending Rates Against A Benchmark Rate, Which Is Called Benchmark Prime Lending Rate (BPLR). Interest Rates For All The Loans Are Calculated With Reference To This Rate. This Is Generally The Highest Rate That The Housing Finance Company Charges. So, A Majority Of The Home Loans, Are Given At A Rate That Is Below This PLR.


Drawbacks Of The PLR Regime


As No Borrower Can Know The Bottom Rate, At Which The HFC Grants Home Loans To Their Best Customers, This Basis Of Charging Interest Is Not Transparent, As You Never Know Whether You Have Got The Best Rate. Moreover, These Lenders Do Not Change Their PLR As Frequently As The Banks Change Their Rates. In Order To Entice And Get New Customers, Housing Finance Companies May Give More Discounts On Their PLR. This May Seem Unfair To Existing Customers, Who Remain Locked At Interest Rates With Lower Discount To The PLR. The Existing Borrower Will Get The Benefit Of Lower Rates, Only When The Lender Reduces Its PLR, Which Does Not Happen So Frequently.


Should Borrowers Opt For A Housing Finance Company Or A Bank?


Hence, If You Have A Good Credit Rating, It Is Advisable To Take The Home Loan From A Bank, Rather Than A Housing Finance Company. In Case You Want To Avail The Rate Which Is Offered To The New Customers, You Are Required To Pay A Switching Fee. Why Then, Do People Go To Housing Finance Companies? In A Majority Of The Cases, The Borrowers Have Some Problem, Either With The Documents Of The Property Or Their Income Proof Or A Bad Credit Rating. As This Carries Higher Risks For The Lender, A Higher Rate Of Interest Is Justified.


Basis Of Home Loan Interest Rates Of Banks


Earlier, Banks Also Used To Give Home Loans On The Basis Of The PLR. From July 2010, The RBI Introduced The Concept Of A ‘Base Rate’, For Computing The Lending Rates – A Rate Below Which The Banks Were Not Allowed To Lend Even To The Best Of The Borrowers. The Purpose Of Introducing The Base Rate, Was To Bring Transparency In The Transactions And To Ensure That The Banks Pass On The Reduction In Repo Rate To The Customers, Quicker Than What Was Happening Under The PLR Regime. The First Purpose Was Served, As The Base Rate Served As The Bottom Rate. Consequently, Borrowers Knew Exactly What Premium They Were Paying, Over The Best Of The Customers Who Could Get The Home Loan At The Base Rate.


Drawbacks Of The Base Rate Regime

However, The Banks Were Not So Quick, In Passing On The Benefits Of Reduced Repo Rates (The Rate At Which The Banks Borrow From The RBI). Moreover, Banks Devised Ways To Calculate Their Base Rates Differently. The Base Rate Was Supposed To Be Based On The Cost Of Funds For The Banks. However, As The Banks Had A Portfolio Of Old Deposits And Borrowings Carrying Higher Rates, This Resulted In Very Marginal Reduction In The Base Rates Every Time The RBI Reduced Its Repo Rate. This Is Evident From The Fact That While The RBI Reduced The Repo Rate By 175 Basis Points Between January 2014 And October 2016, The Banks Reduced The Base Rate By Only 50-75 Basis Points, Thus, Denying The Consumers The Benefits Of Reduction In The Repo Rate.


What Is The MCLR Regime?

To Ensure That The Banks Pass On The Benefits Of Reduced Repo Rates And Cost Of Borrowings To The Consumers Quicker, The RBI Made It Mandatory For All Banks To Link All The Loans To The Marginal Cost Of Their Borrowing For Different Tenures.

The Banks Are Supposed To Work Out The Marginal Cost Of Fund-Based Lending Rates For Different Tenures, Like Overnight, One Month, Three Months, Six Months And 12 Months, Unlike The Base Rate, Which Was Used For Lending By The Banks For Different Tenures, Without Looking At The Corresponding Borrowing Based On Tenure.

The Existing Home Loans Taken Under The PLR Or Base Rate Regimes, Shall Continue To Be Governed By The Respective Regime, Till The Loans Are Fully Repaid, Unless The Same Have Been Switched To MCLR. Also, The Home Loan Rates Will Not Change With Each Change In The MCLR, As The Banks Are Allowed To Have A Reset Period (Maximum Of One Year), Either Linked With The Date Of Disbursement Or A Pre-Determined Date, When The Home Loan Interests Will Be Aligned With The Existing MCLR.



Flats In Ram Maruti Road Thane Contact Ace Constructions Sales Office


Ace Constructions

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


Thane Continues To Enjoy An Undisputed Position As Opposed To Its Other Realty Counterparts. What Gives It An Edge? Let’s Find Out…

Thane Is One Of The Top Few Realty Destinations That Has Performed Well, Despite A Series Of Slowdowns And Repercussions Posed By Demonetisation. The Robust Presence Of Commercial Realty In Thane Is A Very Big Advantage Due To Which Investors Are Expected To Continuously Put Their Money In This Buzzing Realty Destination.

Thane’s Unimpeachable Locational Advantage To The Current Commercial Business Districts (CBDs) Of Mumbai, Will Lead Corporates And Businesses To Set Up Their Offices Here In Order To Establish A Walk-To-Work Concept.Today, Thane Hosts Top Corporates And Businesses, Which Will Soon Witness Their Peers Acquiring Space Here As A Part Of Their Business Expansion Plans,“ Says Ateev Gala, Executive Director, Vijay Group.

Experts Point Out That The Last Decade, From 2007 To 2016, Saw A Tremendous Rise In The Residential Market Of Thane. Now, From 2017 Onwards, Thane Is Wellpoised To Witness Another Simultaneous Evolution Of Other Real Estate Asset Classes Such As Commercial And Retail, To Meet The Demands Of The Rising Urban Cosmopolitan Population That Will Continue To Make Thane Their Abode.


“Owing To Several IT Parks, Commercial Hubs And Malls Opening Up In Thane, There Has Been A Surge In Employment Opportunities, Thus Leading To A Surge In The Demand For Homes As Well. This, Along With The Correct Ongoing Infrastructure Work, I.E. Widening Of Existing Roads Cluster Policy TDR Policy And Other Favourable Policies, Has Led To The Development Of The City By Attracting Developers To Come To Thane,“ Suggests Munish Doshi, Managing Director, ACME Group.


There Are Around 30 Lakes In Thane, Due To Which The City Is Also Known As The `City Of Lakes’.Thane Is Home To Various Renowned Hospitals And Several Educational Institutes And Colleges. “History Has Proven That Any City, Which Has Excellent Infrastructural Facilities, Invariably Becomes A Social And An Economic Driver For The Region. Thane Is An Excellent Example Of The Same. The City Has Already Witnessed Enormous Infrastructural Development In The Last Few Years. The Ongoing Metro Rail Project WadalaGhatkopar-Thane Kasarvadavali, Will Add A Feather In The Cap.

Thane Has Two Botanical Gardens Too. Top Retail And Restaurant Brands Have Their Presence In Various Malls Located In Thane,“ Says Rima Pradhan, Senior Vice-President, Marketing, Viviana Mall. The City Is Also Witnessing The Development Of Many IT Parks, Which Will Again Attract A Large Number Of Realty Investors.


Neha Jain, A Homemaker And Resident Of Thane (E) Says, “Things Are Changing Rapidly Here. Grocery And Vegetable Vendors Offer Door-To-Door Services Now. Earlier, We Used To Go To Mumbai To Shop But Now, We Have Several Shopping Malls Here In Thane; Therefore, Accessibility And Self-Sustainability Are Easily Achieved.“

“Apart From Employment Opportunities, Other Facilities Too Are Becoming Accessible As Com Mercial Properties Are Being Looked Upon As A Part Of The Vicinity. With International Schools, State-Of-The-Art Hospitals, Restaurants, Malls, Entertainment And Recreational Activities Today, Thane Has Everything That Defines A Better Lifestyle. This Has Surely Been The Catalyst In Pushing Up The Liveability Index And Speeding Up The Growth Story Of This Vital Suburb,“ Opines Vihang Sarnaik, Director, Vihang Group.


According To Experts, Since It Is Strategically Located, Thane Is Well-Connected To Mumbai As Well As Nasik RoadThaneKalyan-Belapur Road (Which Houses The Majority Of IT Parks Like Dhirubhai Ambani Knowledge City, Mindspace, Etc)And Ghodbunder Road, Thus Connecting The Bombay-Ahmedabad Highway. Thane Was The First Suburb To Have A Number Of Bridges And Major Roads Have Been Widened And There Is Very Little Traffic Congestion Here.

Lalit Makhijani, Chief Marketing Officer, Godrej Properties Ltd Explains, “Owing To Its Affordability And Connectivity To Mumbai, Thane Started Witnessing A Massive Demand From The Increasing Population. This Also Led Branded Developers To Foray Into The Thane Market And Build Its Residential Portfolio.

Ghodbunder Road Has Played A Very Crucial Role In The Development Of The District. Owing To Its Connectivity, It Has Been A Hub Of Residential And Commercial Development. It Has Become A Lucrative Investment Destination For Budget Homes As Well As Luxury Home-Buyers, Thus, Making Thane The Most Sought-After Residential Destination In And Around Mumbai.“ The Proposed Metro Line, Which Is Expected To Cover More Than 50 Per Cent Of Thane, Will Further Enhance The Connectivity, Both Internally And Externally.


“Micro-Markets Such As Thane Have The Luxury Of A Bullish Infra Story, Which Is Not Found In Markets Like Mumbai. The Fresh Supply Of Units From Grade A Developers In Thane Presents A Horde Of Opportunities For Buyers, Thus Enabling Real Estate Prices To Remain In Control. Investors In Such Markets Also Benefit From Good Deals And Flexible Payment Plans, All Without Skimping On Quality. And So, Investors Attribute These Factors To The Upside Of Investing In Thane. This Is True For Areas Like Thane, Which Will Provide Robust Returns As The Demand For Destinations Closer To IT And Commercial Hubs Increase,“ Suggests Gaurav Sawhney, President Sales, Piramal Realty.

Real Estate Property In Ghodbunder Road Contact Ace Constructions Sales Office

Ace Constructions

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

Loan against Property : What you Need to Know

While Loan Against Property Is A Cost-Effective Option For Raising Money, You Need To Assess All The Risks Involved In The Execution Of The Funds

Recently, Loan Against Property (LAP) Has Emerged As A Popular Form Of Long-Term Loans, Especially Among The Self-Employed. According To A Recent Report From CRISIL, This Loan Category Is Expected To Grow 22% Annually Over The Next Four Years. However, There Are A Few Points Borrowers Should Keep In Mind.

Key Features

As Opposed To Personal Loans, The Interest Rate On LAPs Is Lower Since It Is Secured Against The House. The Interest Rate Ranges From 11.5-15% Per Annum And The Tenure Is From 1-9 Years, Which Can Be Extended Up To 15 Years, Compared To Only Five Years In The Case Of A Personal Loan. Also, You Can Receive The Loan Amount Lumpsum Or As An Overdraft Facility.

Before Sanctioning The Loan, All Financial Institutions Will Check Your Income, Debt-Servicing Obligations And Your Credit Score. “LAPs Are Given On Freehold Property And The Owner Must Have A Clear Title To It,” Informs Rajan Ahuja, Director, Realty & Verticals, A Gurgaon-Based Real Estate Consultancy. To Reduce Risk, Most Banks Offer Loans Up To 50-65% Of The Value Of The Property, While Some Non-Banking Financial Companies (NBFCs) Go Up To 75%. The Processing Fee Ranges From 0.5-1.5%. Loans Are Approved Only When The Self-Employed Can Show An Earning Track Record Of Three Years, Usually Via Income Tax Returns.


LAPs Allow Property Owners To Monetise An Idle Asset. Loans Can Be Taken Against Both, Self-Occupied And Property That Has Been Leased Out. The Tenure Of An LAP Is Longer And You Can Also Get A Larger Amount As Compared To A Personal Loan, Which Cannot Exceed Rs 10 Lakhs.



The Key Risk In An LAP Is That You Could Lose The Property You Have Borrowed Against If You Default On The Loan Payment. Also, Unlike A Home Loan, There’s No Tax Benefit To The Salaried Individual On The Principal Amount And Interest Paid.

Points To Remember

Before Taking A Loan, Assess Your Cashflows And Repayment Capacity. “People Often Take An LAP Because It Is Cheaper But Deploy It In Avenues That Are Risky,” Points Out Vishal Dhawan, Chief Financial Planner, Plan Ahead Wealth Advisors. Taking This Loan To Start A New Venture, Could Be Riskier Than If The Money Is Used To Expand An Established Business. If You Default, Your Credit Score Will Be Affected, A Penalty Will Be Charged, And In The Worst-Case Scenario, You Could Lose The Property.

“People Tend To Put At Risk An Asset That Is Worth Much More, For A Loan Of A Smaller Amount,” Points Out Dhawan. For Instance, A Home Worth Rs 5 Crores Is Put Up As Security For A Rs 50 Lakh Loan. Instead, Explore Taking A Loan Against Share Certificates, Insurance Policies, Gold, Etc. Sometimes, Businessmen Opt For LAPs To Avail Of Tax Deduction On Interest Paid. “Borrowers Must Get Good Tax Advice. The Funds Have To Be Clearly Identifiable As Having Been Deployed For The Expansion Of The Business To Be Able To Avail Of The Tax Deduction,” Informs Dhawan. Finally, If You Expect Some Cash Flows Soon, Take The Loan As An Overdraft Facility And Not As A Term Loan. Whatever Surpluses You Get Can Be Parked In The Overdraft Account. This Will Enable You To Lower Your Interest Cost.

2 BHK Apartments In Kasarwadavali, Thane Contact Ace Constructions Sales Office

Ace Constructions

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

How and Why Will the Current Reduction in Lending Rates, Affect Home Loan Rates?

To What Extent Will A Reduction In The Marginal Cost Of Funds-Based Lending Rate (MCLR) By A Bank, Impact One’s Home Loan Rates And EMI? We Examine

The Substantial Cut Of 0.90% By The State Bank Of India In Its Marginal Cost Of Funds-Based Lending Rate (MCLR), Has Created A Lot Of Interest Amongst The General Public And Borrowers, In Particular. The General Perception Is That All The Borrowers And Specifically The Home Loan Borrowers, Will Immediately Get The Benefit Of This Rate Cut. Is It So? Let Us Discuss This.

What Is MCLR?

As The Banks Were Not Quick In Passing On The Benefits Of The Rate Cuts Announced By The RBI In The Past, The Central Bank Introduced A New Basis For Banks To Determine Lending Rates, Based On The Marginal Cost Of Borrowing, With Effect From April 1, 2016. All The Loans Granted By The Banks, Are Necessarily To Be Given Under The MCLR Regime. The MCLR Takes Into Account The Marginal Cost Of Funds For The Banks, For A Specific Period, To Arrive At The Final Lending Rate. What The SBI And Other Banks Have Done, Is Reduce Their MCLR.

Who Will Get The Benefit Of Reduction In MCLR?

Whether The Reduction In MCLR By The Banks, Will Benefit The Existing Customers Or Not Will Depend On Various Factors. The First Factor Is The Interest Rate Regime, Under Which You Had Borrowed The Money.

In Case You Had Taken The Loan Under A Fixed Rate, The Benefit Of Reduction In MCLR Will Not Be Available To You, As Your Interest Rate Is Fixed For The Agreed Tenure. Even If You Had Availed Of The Loan Under A Floating Rate, Whether The Benefit Will Accrue To You Or Not, Will Depend On Other Factors.

If You Had Availed Of The Loan Prior To April 1, 2016, You Would Have Done So, Either Under PLR (Prime Lending Rates) Or Base Rate Regime And The Benefit Will Not Accrue To You Immediately, Unless The Bank Reduces Its PLR Or Base Rate. The Benefit That You Get, Will Also Depend On The Extent Of Reduction In The PLR Or Base Rate.

Under The PLR Regime, The Rate Of Interest Was Linked To The PLR Of The Bank And The Lending Rate Was Generally At Par Or At A Discount To The PLR. The Base Rate Is Based On The Aggregate Cost Of Borrowing Of The Bank And Not The Marginal Cost Of Funding, Which Forms The Basis For The MCLR.

How A Change In The MCLR Affects Home Loan Rates

Under The MCLR Regime, Your Home Loan Interest Rate Will Not Change With Each And Every Change In The MCLR. The Banks Are Allowed To Have A Reset Clause In The Lending Agreement, To Fix The Periodicity Or Date For Change In The Actual Lending Rate To The Borrower. The Premium, Which The Banks Have Over Their Base Rate Or MCLR For A Particular Loan, Is Generally Called ‘Spread’ And Is Expressed As Certain Points Over The Base Rate Or The MCLR.

The Benefit Of Reduction In Rates Will Accrue To You, If You Had Already Switched To The MCLR From The Base Rate Or PLR Regime.

For Borrowers Who Had Either Borrowed Under The Base Rate Regime Or Had Shifted To The Base Rate Regime From PLR, The Benefit Will Not Be As Substantial As The Reduction In The MCLR.

Moreover, It Will Be Available Only As And When The Bank Announces A Reduction In Its Base Rate.

The Existing Borrowers, Who Have Borrowed Under The MCLR, Will Get A Benefit If There Is No Reset Period Restriction Or The Reset Period Is Over. As The Banks Have Reduced The MCLR But At The Same Time Increased The Spread, New Borrowers Will Not Get The Home Loan At The Same Rate As The Reduced MCLR. The New Rates Will Be Higher Than What It Would Have Been, Had The Banks Not Changed Their Spread.

However, The Reduction In MCLR Will Certainly Benefit Existing Borrowers Under This Regime, As The Spread Will Remain The Same For Them, Unless They Have A Reset Clause And The Reset Period Is Not Yet Over.

What Can The Borrower Do, If The Reset Date Is Away Or He Has Borrowed Under Base Rate Or PLR?

Borrowers Under The Base Rate/PLR Regime, Can Switch From The Base Rate To The MCLR On Payment Of Applicable Charges Or Even Shift From One Lender To Another, After Doing A Proper Cost-Benefit Analysis For The Whole Tenure. The Decision To Shift/Switch Would Depend On Various Factors. The Most Important Factor, Is The Difference In The Effective Rate Of Interest, Between The Rate You Are Paying And The Rate Of Borrowing Under MCLR If You Switch/Shift.

The Balance Tenure Of The Existing Loan, Also Plays Its Part In The Decision To Shift/Switch The Loan. As The Existing Loans Are Under The Floating Rate, The Banks Do Not Charge You Any Prepayment Penalty. So, Effectively, You Have To Take Into Account The Processing Fee Of The New Lender Or The Charges To Transfer The Loan, Which Can Range Between 0.15% And 0.50%. In Case The Money Is Borrowed Under The MCLR Regime, The Bank Is Bound To Pass On The Full Benefit To The Borrower, Subject To Reset Date Restrictions.

3 BHK Apartments In Thane Contact Ace Constructions Sales Office

Ace Constructions

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

A Guide to Choosing The Right Lights For Your Home

Lighting Plays An Important Role In Setting The Ambience In A Home. Besides Illuminating The House, Light Can Also Impact The Mood Of The Home’s Occupants. We Tell You How To Choose Lights That Can Make Your Home More Appealing

Lighting Options Are Available In A Variety Of Budgets, From Traditional To Contemporary Styles. Fixtures Crafted In Metals, Glass, Crystals, Bamboo And Fibre, Come In Different Sizes And Shapes. Floor Lamps, Wall Scones, Ceiling Lamps, Spot And Pendant Lights, Chandeliers And Light Strips, Can Also Be Used In A Home’s Décor.

“Nowadays, People Are Very Choosy When It Comes To Selecting Lighting Elements For Their Home’s Interiors, As Well As Exterior Areas, Such As Gardens, Verandas, Pathways, Staircase, Balconies Or Even The Main Door. Customers Today, Have Amazing Choices, Vis-A-Vis Colours, Tones, Brightness Levels And Energy Saving Options,” Shares Sudhir Pawar, A Pune-Based Interior Designer.

Before Selecting The Fixtures And Deciding On Its Placement, One Needs To Have A Clear Idea About The Purpose Of The Lighting. “The Aim Should Be To Minimise The Number Of Fixtures And Maximise Their Effect And Functionality,” Points Out Komal Vasa, A Lighting And Interior Designer From Mumbai.

“New-Age LED Technology, Provides This Flexibility. One Can Combine Accent And Ambient Lights, With The Colours Changing From Warm Tones To Day Lighting, In A Single Fixture,” Explains Vasa.

Different Lights For Different Rooms

One Should Also Consider The Available Natural Light, When Selecting Artificial Lighting Methods. “Balance The Functional And Aesthetical Nuances Of Light. Adequate Illumination In The Living Room And Study Room Is Essential, To Avoid Eye Strain, While Bathrooms And Dressing Tables Need Task Lighting. In The Bedroom, You Can Fit A Dimmer Switch That Controls The Brightness Level, To Create A Soothing Ambience,” Suggests Pawar.

Back Panel Lighting For The Television Area Or The Bed, Is Popular As It Adds A Dazzling Glow. A Back-Lit Glass Panel Or Clusters Of Lights Which Double Up As A Wall Mural, Can Create A Surreal Light Effect. Ceiling Lamps And Table Lamps With Beautiful Shades, Can Also Be Used To Create A Soft And Serene Ambience.

In The Living Room, Focus The Accent Lights On Artwork And Curios, Adds Vasa. “Use Dimmers To Add Some Soft Light To Panels And Textured Surfaces, To Create Warmth. You Can Create Unique Fixtures With Mundane Everyday Objects, Or Use Interesting Fabrics, Colours, Papers, Etc. This Will Add A Personalised Touch To Your Home’s Décor,” Says Vasa.

Multiple Lighting Options Help To Enhance The Visual Appeal Of A Space, By Adding Focus And Depth. Vinita Mishra, A Home-Maker From Noida, Adds “Our Living Room’s Ceiling Has Sleeper Wood Strips, Which Have Soft Yellow Lights Reflecting From Its Borders And It Creates A Distinct Visual Effect. I Also Have Two Intricately Designed Red Glass Lamps In One Corner Of The Room, Which I Switch On In The Evenings. I Have Subtle Blue Lights Installed In My Bedroom And Even My Shower Has Coloured LED Lights.”

Lighting Tips

1. The Main Lighting Source Should Be Bright. You Can Use LED Lights Of Relevant Wattage, To Give A Comfortable Feeling.

2. Consider The Ceiling Height, Before Hanging A Chandelier. It Should Be Mounted At Least Seven To Eight Ft Above The Floor.

3. On A Workstation, Place The Lamp At A Correct Angle, To Ensure That No Shadow Falls On The Working Area.

4. A Side Table With A Lamp, Not Only Has Its Own Charm But Is Also Useful As A Reading Light.

5. Lamps In The Bedroom Need To Be At A Convenient Distance From The Bed, Making It Easy To Operate.

6. While Selecting Light Fixtures, Ensure That It Complements The Overall Theme Of The House And Furniture Design.

7. Choose Fixtures That Are Easy To Maintain – Spares And Accessories Should Be Easily Available In Future, For Replacement.

8. Ensure That The Children’s Rooms Are Bright. Avoid Floor Lamps And Glass Lamps For Safety.

9. Always Have Extra Plug Points For Lights (Like Fairy Lights And Lamps) That You Can Use During Festivals And Special Occasions.

2, 3 BHK Apartment In Ghodbunder Road Thane Contact Ace Constructions Sales Office

Ace Constructions

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