How to plan your budget when buying a property in Jaipur?

Buying a property can be a far-fetched dream for many. Almost everyone dreams of owning a house that looks like an abode carved right out of your dreams, but buying one such home does not fall in everyone’s budget.

Here we will learn about the same! This article will help you with the tips and tricks of how to plan a budget when buying a property in Jaipur.

How to buying a property?


There are various ways of owning a home of your dreams without having to spend heaps of money. Some of them mentioned here are:

Loan availability


Low on budget and looking forward to investing in a property? One of the options is to take a loan from a bank which can be paid off in installments.


Many builders offer 80-90% loans on their luxury and top-notch projects to ease the process of home buying for people.


KGK Realty properties, that fall under the loanable segment, are one of the best buys if you are looking forward to property investment. For loan amounts that are above Rs.30 lakh and up to Rs.75 lakh, the LTV ratio limit has been set to up to 80% while for loan amounts above Rs.75 lakh, the
LTV ratio can go up to 75%.


This implies that if the LTV (Loan to Value) ratio is 90%, you will have to pay at least 10% of the property value from your pocket and the rest of the amount can be funded by taking a home loan. LTV ratio is needed to calculate the minimum down payment that you would have to make towards purchasing a home or property.

Government schemes


To allow everyone to realize their dream of owning a home, the government is also offering many schemes and subsidies to the women. With the government offering a 2.67 lakh subsidy on home loans, there are many other tax benefits that the real estate investors can achieve.


The PMAY-Urban scheme’s implementation timeframe has been extended till December 31, 2024. Under this scheme, the Government of India hoped to provide the urban poor with affordable housing by 2022. The programme first went live on June 25, 2015. The PMAY scheme has an interest rate that starts at 6.50% per year and is available for terms up to 20 years.


After receiving requests from states and Union Territories, the Union Cabinet made the choice.

Benefit on under-construction property


Talking about the GST on properties, the government levies GST on the under-construction projects according to their prices.


If the under-construction residential property is under 45 lakh, then the GST is 1%. If the property is above 45 lakh, then the GST is 5%


It’s essential to do some market study before investing in a property. The real estate market keeps on fluctuating; thus, it’s essential to look at market prices and invest accordingly.

Keep a check of the latest offers provided by builders

Choosing a renowned builder for your home makes the process of house hunting easier. The top real estate builders allow you to enjoy the comfort of transparency and quality. At the same time giving you complete amenities and living facilities in premium value.


Moreover, the builder will take care of the maintenance, and you will never have to worry about the little issues related to society.

Search in the suburbs


Prices in the central city areas are unexpectedly higher. Regardless of the size of homes or the facilities, the independent homes have a higher sq. ft. price as compared to those a little farther away from the city center.


Thus, if you wish to buying a property, it is better to find a home in the city’s suburbs. Many builders are moving towards areas closely connected to the main city and yet a little far in search of land to provide a lavish living area with amenities.

For the ending note


To invest in a luxury home that fits your pockets, you will have to do a bit of homework like market research, negotiation on the perfect property, and keeping the financial resources aside.


If you are thinking of buying a property within your budget. Then you need to stick to it and keep patience while property searching.


Through KGK Realty, you can find excellent properties in your budget that fit your needs as well. Check their ongoing and completed properties now.

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