How to plan for the annual rent increase?

 Source: HomeCapital Website

Large metro cities in India are attracting thousands of people from many cities, states, villages and small towns all year round, mostly because of meeting the demands of living conditions. Complementarily, the influx of these huge numbers of people spurs demand for affordable housing. Furthermore, only beginning to work doesn't leave enough new jobs to buy a house on the go. And the rental industry boom is experienced every new day like no other. The rush has contributed to a redesign of the home builders' service to be landlords and to re-image the real estate market. An increasing trend in national housing cost- The housing price index of the Reserve Bank of India (RBI), has clearly illustrated the growing pattern of house rent prices over the past year. Around 11.09 million residential units across India, especially in urban areas, have institutionalized the country's long, unorganized rent market. A significant contribution of 13.5 percent to Maharashtra, 5.9 percent to West Bengal, 13.8 percent to Andhra Pradesh and 4.3 percent to Delhi's total stock of the urban rental household sector. The thriving rental housing market space in India is further assured by the official rental yield of 4 percent in some important market segments. Tier 1 towns of landowners reported their yields well above 3 percent. Ahmedabad and Chennai expected to rise in housing rents of as much as 0.7% and 0.4%. While Bengaluru, Kolkata, Ahmadabad, and Hyderabad are marked with the highest growth in housing rent. Home down payment programs will help you relax over the momentum of house rent- For India's first home down payment assistance scheme, HomeCapital has already attracted mass attention. Accurate assessments of the real estate sector, and the potential to redefine and drive homeownership for the first time, have contributed to the HomeCapital program's reputation. They have beautifully positioned themselves to help people cross the barrier of the home down payment to fulfill their vision of owning a house.

Source: HomeCapital Website The HomeCapital program is sure to support the housing demand. The following points out their program’s USP: HomeCapital's association with leading developers of real estate as well as reputable financial institutions has made it easier for them to show the light of hope to a robust population of residential seekers. The HomeCapital program is interest-free, definitely to lubricate the financial traction of a host of first time home buyers. The down payment aid is in the form of a personal loan equal to your own contribution towards your home down payment requirement. So, in short, you can live your vision of purchasing your first residence without being forced to delay the same due to inadequate savings. And you can pick the best of homes that are well suited to your taste. Comparison of costs between renting annually and owning your own house- Before plunging into any sort of contract, it is often best to conduct a cost-benefit analysis of rent versus buy scenario. Particularly the importance of the same is unparalleled in case of financial decision making. Buying a house drives people into a "less prosperous lifestyle" which means a significant amount of time cutting significantly on various other expenses. The other two major factors alongside the buying power which drives the decision to buy a house are the motivation and will power. For example, renting a 2 BHK apartment in Mumbai per month can cost you around INR 50 thousand. Costs are expected to grow slowly as we advance in time. When buying a house with a home loan, on the other hand, it might set your EMI at around 80-90,000 a month. This amount may initially seem a higher amount than the monthly rent, but it results in far higher savings in the longer run. Developers of real estate demand that you pay a down payment before you purchase your home. This amount may vary from 5% to 20%, according to the RBI. HomeCapital's plan provides you with half the down payment cost and enables you to become a homeowner sooner. Owning your own house is certainly a luxury you can enjoy in the long term. With experience that comes with age & with the plan of owning your own home, you can cultivate money spending and saving habits, so the EMI option cannot look that burdensome to the idea. In comparison, renting only ensures a month's shelter, while EMIs always take you closer to ownership. Walking on the road with HomeCapital to get a self-owned house at the earliest is certainly to satisfy the feeling of ownership of a roof over your head. Psychologically it's pretty upsetting to rent with landlords watching every month. Don't waste time; save your money to purchase your first home companion HomeCapital at the earliest opportunity.