Friday, February 25, 2022

Office space leasing to increase by 10-15% in 2022 : Experts

 February 24, 2022

“Occupiers’ intention to expand is expected to exert downward pressure on vacancies in the coming years,” said Anshuman Magazine, chairman and CEO-India, South-East Asia, Middle East and Africa at CBRE.

Office vacancy level across eight major cities increased marginally to 17% in the fourth quarter of calendar year (CY21) from 16.9% in the previous quarter but the exodus of companies from large building complexes due to Covid-19 appears to be bottoming out, according to an analysis by ICICI Securities

Experts said vacancy levels will fall going forward.

“Occupiers’ intention to expand is expected to exert downward pressure on vacancies in the coming years,” said Anshuman Magazine, chairman and CEO-India, South-East Asia, Middle East and Africa at CBRE.

As per the report, vacancy in NCR has increased to 27.7% in Q3CY21.

Post the onset of the first Covid-19 wave in India from March 2020 (Q1CY20), Grade A vacancy levels across India's top seven cities have risen by 3-8% till December 2021.

Among these, the Hyderabad market has seen the highest rise in vacancy levels from 5.5% in Q1CY20 to 15.1% in Q4CY21 due to a combination of tenant exits and large completions/supply.

While the Omicron surge has temporarily delayed the recovery in office leasing by a quarter, experts expect this trend to reverse from April this year onwards with the improved pace of vaccinations across India, select corporates recalling employees to offices and gradual pick-up in international travel.

“We anticipate that this space take-up would be a combination of pent-up demand and expansionary/consolidation-led leasing as occupiers start to realign their business strategies after a long hiatus post the pandemic,” said Magazine.

Office leasing activity in India witnessed a steady recovery in 2021 with gross absorption touching 41.1 million sq ft, an increase of about 16%.

This momentum is likely to continue in 2022 with gross absorption expected to increase by about 10-15% on an annual basis.

“We firmly believe that vacancies have bottomed out and the graph will turn positive in 2022. Given the relatively subdued impact of Covid phase (Omicron), we have already seen request for proposals (RFPs) from occupiers out in the market with several large transactions slated to close in first half of 2022,” said GaganRandev, executive director, India Sotheby’sInternational Realty.

Heading into CY22, commentary from REITmanagers indicate that incremental portfolio exits will be balanced by new leasing and many tenants retaining office space.

The only dampener is that vacancy levels across REITs have cumulatively risen by 500-900bps between March 2020 and December 2021 owing to tenant exits.

While the jury is out on the eventual outcome of the back to office plans of various corporates, broad consensus is that 15-20% of employees may permanently work from office (WFO), 10-15% of employees may permanently work from home (WFH) while balance 60-70% of employees may work under a hybrid model of WFO with WFH.



Source: realty.economictimes.indiatimes.com



Back to All Thane Real Estate News



To Get More Information About Properties in Thane City Or Call us On 9930011453 or Email us On info@propertythane.com

Wednesday, February 23, 2022

Mumbai: 1% Metro cess on property purchase likely from April 1, stamp duty to go up

 February 21, 2022

Meanwhile, on March 11 the state government will table the budget for the financial year 2022-23. Therefore, the incentives for real estate stakeholders and homebuyers are being looked at.

One per cent Metro cess on property purchase is likely to be imposed from April 1. The existing Maharashtra government resolution (GR) restricts the imposition of Metro cess till March 31. The decision was taken amid the pandemic situation. Now, if no new GR is issued then the Metro cess will come into force, said Shravan Hardikar, Inspector General of Revenue (IGR), Maharashtra.

Metro cess is a transport surcharge. It is one per cent of the property value, and is intended to be used for funding transport infrastructure projects in the cities such as Metros, bridges and flyovers.

Following this additional cess, the stamp duty will increase further. Currently, the stamp duty on property purchase is five per cent, and four per cent for women homebuyers. Meaning, the Metro cess will increase stamp duty to six per cent and five per cent subsequently.

Meanwhile, on March 11 the state government will table the budget for the financial year 2022-23. Therefore, the incentives for real estate stakeholders and homebuyers are being looked at.

The Free Press Journal had reported that property registrations in Mumbai city alone bring in a huge wealth. According to the data with the IGR and Controller of Stamps, Maharashtra, in the last 20 days of February, a total of 6,741 housing conveyance sales have been registered in Mumbai. This has led to a revenue generation of Rs 372.81 crore through five per cent stamp duty charges. Similarly, across Maharashtra, around 88,630 conveyance sales were recorded and while the revenue generated stood at Rs 1,362.43 crore.


Source: www.freepressjournal.in



Back to All Thane Real Estate News



To Get More Information About Properties in Thane City Or Call us On 9930011453 or Email us On info@propertythane.com

Property Rates & Price Trends in Thane

 

April 2020


Mumbai ThanePrice Range (Rs. per sq. ft.)
KhopatRs. 10,880 - 12,665/sq. ft.
NaupadaRs. 12,920 - 14,535/sq. ft.
Kolshet RoadRs. 9,052 - 10,498/sq. ft.
Pokharan RoadRs. 10,540 - 12,198/sq. ft.
Pokhran-2Rs. 10,838 - 12,112/sq. ft.
Vartak NagarRs. 9,435 - 10,625/sq. ft.
MajiwadaRs. 9,052 - 10,200/sq. ft.
ManpadaRs. 9,902 - 11,220/sq. ft.
Anand NagarRs. 7,735 - 8,628/sq. ft.
Kasar VadavaliRs. 7,352 - 8,330/sq. ft.
OwaleRs. 6,842 - 7,862/sq. ft.
Hiranandani MeadowsRs. 14,492 - 16,575/sq. ft.
Hiranandani EstateRs. 10,710 - 12,750/sq. ft.
KopriRs. 9,562 - 11,220/sq. ft.
Panch PakhadiRs. 11,560 - 13,728/sq. ft.
Wagle EstateRs. 11,815 - 13,345/sq. ft.

March 2020


Mumbai ThanePrice Range (Rs. per sq. ft.)
KhopatRs. 10,328 - 13,090/sq. ft.
NaupadaRs. 12,708 - 14,322/sq. ft.
Kolshet RoadRs. 8,882 - 10,200/sq. ft.
Pokharan RoadRs. 10,965 - 12,198/sq. ft.
Pokhran-2Rs. 10,880 - 12,495/sq. ft.
Vartak NagarRs. 9,435 - 10,668/sq. ft.
MajiwadaRs. 9,222 - 10,370/sq. ft.
ManpadaRs. 9,818 - 11,135/sq. ft.
Anand NagarRs. 7,820 - 8,712/sq. ft.
Kasar VadavaliRs. 7,480 - 8,288/sq. ft.
OwaleRs. 7,140 - 7,990/sq. ft.
Hiranandani MeadowsRs. 14,535 - 16,915/sq. ft.
Hiranandani EstateRs. 10,752 - 12,920/sq. ft.
KopriRs. 10,115 - 11,772/sq. ft.
Panch PakhadiRs. 10,880 - 13,345/sq. ft.
Wagle EstateRs. 10,668 - 12,282/sq. ft.

February 2020


Mumbai ThanePrice Range (Rs. per sq. ft.)
KhopatRs. 10,328 - 13,090/sq. ft.
NaupadaRs. 12,708 - 14,322/sq. ft.
Kolshet RoadRs. 8,882 - 10,200/sq. ft.
Pokharan RoadRs. 10,965 - 12,198/sq. ft.
Pokhran-2Rs. 10,880 - 12,495/sq. ft.
Vartak NagarRs. 9,435 - 10,668/sq. ft.
MajiwadaRs. 9,222 - 10,370/sq. ft.
ManpadaRs. 9,818 - 11,135/sq. ft.
Anand NagarRs. 7,820 - 8,712/sq. ft.
Kasar VadavaliRs. 7,480 - 8,288/sq. ft.
OwaleRs. 7,140 - 7,990/sq. ft.
Hiranandani MeadowsRs. 14,535 - 16,915/sq. ft.
Hiranandani EstateRs. 10,752 - 12,920/sq. ft.
KopriRs. 10,115 - 11,772/sq. ft.
Panch PakhadiRs. 10,880 - 13,345/sq. ft.
Wagle EstateRs. 10,668 - 12,282/sq. ft.

January 2020


Mumbai ThanePrice Range (Rs. per sq. ft.)
KhopatRs. 10,328 - 13,090/sq. ft.
NaupadaRs. 12,708 - 14,322/sq. ft.
Kolshet RoadRs. 8,882 - 10,200/sq. ft.
Pokharan RoadRs. 10,965 - 12,198/sq. ft.
Pokhran-2Rs. 10,880 - 12,495/sq. ft.
Vartak NagarRs. 9,435 - 10,668/sq. ft.
MajiwadaRs. 9,222 - 10,370/sq. ft.
ManpadaRs. 9,818 - 11,135/sq. ft.
Anand NagarRs. 7,820 - 8,712/sq. ft.
Kasar VadavaliRs. 7,480 - 8,288/sq. ft.
OwaleRs. 7,140 - 7,990/sq. ft.
Hiranandani MeadowsRs. 14,535 - 16,915/sq. ft.
Hiranandani EstateRs. 10,752 - 12,920/sq. ft.
KopriRs. 10,115 - 11,772/sq. ft.
Panch PakhadiRs. 10,880 - 13,345/sq. ft.
Wagle EstateRs. 10,668 - 12,282/sq. ft.

Decemeber 2019


Mumbai ThanePrice Range (Rs. per sq. ft.)
KhopatRs. 10,838 - 12,665/sq. ft.
NaupadaRs. 12,962 - 14,535/sq. ft.
Kolshet RoadRs. 8,882 - 9,945/sq. ft.
Pokharan RoadRs. 10,752 - 13,005/sq. ft.
Pokhran-2Rs. 10,838 - 12,495/sq. ft.
Vartak NagarRs. 9,350 - 10,582/sq. ft.
MajiwadaRs. 9,222 - 10,455/sq. ft.
ManpadaRs. 9,775 - 10,965/sq. ft.
Anand NagarRs. 27,838 - 29,835/sq. ft.
Kasar VadavaliRs. 7,608 - 8,500/sq. ft.
OwaleRs. 7,395 - 8,245/sq. ft.
Hiranandani MeadowsRs. 14,620 - 16,872/sq. ft.
Hiranandani EstateRs. 11,092 - 13,175/sq. ft.
KopriRs. 9,732 - 11,432/sq. ft.
Panch PakhadiRs. 11,135 - 13,345/sq. ft.
Wagle EstateRs. 11,432 - 12,708/sq. ft.

Source: www.99acres.com

50+ Ways to Make a Bedroom Beautiful (Part 1)

 February 2020


Find your dream bedroom scheme


Bedrooms are the ultimate escape from the hectic pace of daily life, a place where you can go to relax and recharge. These style ideas will help you create your ideal bedroom scheme, whether you’re looking for a serene sanctuary, a cozy country-style retreat or something bold and beautiful.

Residential flats in thane ghodbunder road | 50+ Ways to Make a Bedroom Beautiful
Source : Freepik.com

Jungle daze


Recreate that hot summer feeling all year round with a stylish twist on tropical. You don't have to choose zingy lime and bright magenta to create a jungle-inspired look. This gorgeous emerald green with palm-leaf printed blind and cushions set against a white-washed wooden headboard and bare walls, brings a calming exotic look without the need for color clashing.

Reclaimed materials


The key to this look is reclaimed wooden furniture. The bed, sideboard and wardrobe are all made with salvaged wood and really bring this look together. Combined with brick walls, exposed pipework, bare windows and industrial finishes the scheme is complete.

Cozy fireside


If you live in a Victorian property then you'll likely already be blessed with fireplaces in your upstairs bedrooms. If they've been boarded up, then reinstate them. Don't fancy a wood or coal burning fire? Then choose an electric model instead. There are so many ways to style a fireplace; it's all about creating a mood. Even the gentle flicker and glow from a (faux) fire will do just that.

French opulence


Wow! Wouldn't it be amazing to live in such an extravagant property with sky high-ceilings like this? Even if you don't have a huge bedroom you can still channel the look at home. Keep walls and ceilings a pristine white and add antique gold touches. Vintage lamps are great for this or decorative add plasterwork such as cornicing and a ceiling rose, and gild it up to the nines.

Mid-century modern


Teak furniture, lavish house plants and a cool color palette all bring a contemporary twist to mid-century style. Rich navy and ochre yellow bring a touch of warmth to the overall scheme that is light, airy and refreshing. Find vintage pieces, such as an old radio, to add an element of the past into the present.

All abstract


What fun this is to create! Grab yourself some bold emulsion paints, masking tape and a spirit level. Using a pencil and tape, mark your desired pattern on the wall. You can make it as striking as you like – go for one or two giant triangles, or connect several together. When you've settled on your design, paint in all the sections and revel in your handy work.

Rich curves


The colors in this autumnal palette are wonderfully enriching for the season. Deep corals, light peach and a gentle mushroom all come together perfectly, offset by the cool tones of pale wood. The headboard is a striking feature and is easily cut from MDF. Just draw wide, over-sized curves on to a sheet of wood and have your local hardware store cut it to shape for you.

Layer up


Plenty of cushions, throws and bedding is the focus of this scheme. Keep the room neutral with white walls, shuttered windows and soft gray carpet and add rich layers of color through the bedding. A warm mustard cushion sets off the look.

Mellow yellow


A neutral room with a bold bed makes a striking statement. Choose any color you like as the aim here is to offset a light backdrop by injecting a splash of color with the bedstead. It is fun and adds a cheerful glow to the room, especially if you go for a happy yellow shade.

Copper rush


This rich metal is not going anywhere fast and has definitely taken the top spot from chrome in the style stakes. Go for a copper bedstead and bring in other metal accessories in this rosy shade to unify the look. It goes beautifully with this gentle sea green shade, too.

Make it a mezzanine


A built-in platform area is another fantastic space-saving idea for a bedroom. It creates a designated sleeping zone on the higher level, allowing you to squeeze in extra storage underneath.

Back stroke


So simple and so effective, you can finish this in just a few hours. The effect is easily achieved by simply rolling halfway up the wall behind the bed, with a narrow roller, creating a rough line. As the design itself is quite dramatic, it is best to soften with a light shade, such as this pretty pink.

Oversized lighting


The large-scale lamp is the star in this scheme. No need for a bedside table, just one huge lamp as the feature. Don't worry about the light being too bold, you can pop in a dim bulb to ensure you maintain a gentle glow for bedtime. Need inspiration? See more lovely ways to light your home.

Classic florals


You heard it here, traditional schemes are not old-fashioned. All you need to do to ensure it stays modern is keep the bed, chest of drawers and bedside tables contemporary. Choose a large upholstered sleigh bed that you can dress in classic bedding. A pretty purple floral pattern, such as this, layered with block color is a modern way to work it.

Divided space


Make the best use of space in your bedroom by zoning the room in two. Use a large wardrobe in the center and position the bed one side and a small desk or dressing table the other. This also works especially well if you live in a studio flat or open-plan property as the wardrobe creates much-needed privacy.

Wall murals


Create a dramatic show-stopping feature with an oversized wall mural. If you're artistic, you could paint a large mural with flowers and wildlife by hand, but if not, simply hang one that has been sized to fit.

Color pop


Make your bedroom a fun space by introducing lots of block color. Go for a bold blue on the wall and dress the bed with lots of bright cushions, all in different colors. A small shelf, painted the same shade as the wall, acts as a useful bedside table and looks especially great with a jazzy pink lamp. A zingy lemon stool finishes the scheme.

Cool concrete


If you can do it, then a real cement wall will really make this scheme work. But, if that feels a stretch too far, then go for a cement-look wallpaper, instead. Dress the room with accessories in shades of gray, as well as white and black. Hang light curtains at the windows and layer up the bedding.

Hot pink


What a playful spin on sophistication this look is. Ultra contemporary bedside tables with chrome finishes and hotel-style lamps offset against a warm neutral wall creates the perfect backdrop for the hot pink upholstered bed. It's bright and it's bold, and the bigger you can get the headboard the better. What fun!

Art Deco drama


Warm yellow gold is the star in this look – it beautifully frames the moody rich blue bedding and almost-black walls. Mirrored bedside tables and chest of drawers brings in a touch of opulence and glamor, creating a sense of luxury and wealth. The perfect finishing touch? Plenty of Art Deco pattern and accessories, of course!

Painted feature


Who said you have to paint the entire wall the same color? No one! Throw the rulebook away and have some fun with wall emulsion. Here, four colors have been used with each area a different shade. Plus, a feature area has been created by painting a (not perfect) circle in the center, framing a set of lightweight shelves.

Boudoir chic


Give a hotel-like scheme a modern twist by using an orange, pink and white color palette that screams exuberance. Stylish, sophisticated and extremely comfortable, this look is perfect for the master bedroom. Yellow gold accents in the modern bedside lighting, ceiling pendant and wall-hung mirror tie the look together.

Cosmic skies


Space and stars is not just for children. Give your master bedroom a makeover and bring in touches of the galaxy with a stylish scheme like this. Dark, moody colors combined with a moon-like wallpaper sets the backdrop that you can dress with starry details and framed cosmic prints.

Leather luxury


If you have a small room but want to make an impact, choose a bed with a large, oversized headboard. It is a statement in itself and works well even in the most average-sized room. A textured leather style in classic brown looks wonderful against a gray wall and dressed in crisp white bedding. It doesn't need to be all-out masculine either, add a few floral touches for a feminine feel.

Shed chic


Create a tranquil feeling with a totally white bedroom that has plank-clad walls. It's the perfect in chic-cabin style. Affixing lengths of wood to the walls is easy but if you don't want to go all out then use wallpaper instead. A stylish window-design mirror adds a whimsical finish. Can't decide on a pattern? Find your perfect roll amongst our 55 favorite wallpaper ideas.

Modern sorbet


Pink and gray is such a striking combination and looks even better when layered with a rich purple hue. The focal point here is the sleigh bed so choose a modern gray, upholstered design and dress in bubble gum pink plain bedding. Touches of aquamarine and rose red elevates the look further. Choose a lightweight side table so not to overpower the bed.

Wonder window


If you live in a lofty New York-style home then you'll already benefit from large crittall-like windows. Let them take center stage by leaving them bare without any dressing whatsoever – they're the main attraction here. Position your bed slightly forward and complement in a grid-like bedspread. Don't forget an eye mask to help you sleep!

Brick works


Go for a totally rustic look with bare brick walls and exposed beams and woodwork. This style is akin to a barn in the south of France and perhaps not so common here, but can be replicated nonetheless. Brick wallpaper is a great starting point, bare floorboards and imitation beams are easy to fix into place. For finishing touches, add dried foliage, a ladder shelf and knitted throws.

Wooden tiles


Bring a touch of the outdoors inside with a wall covered in bark tiles. Easy to pop into position, they add a textured tactile finish to the bedroom space and look especially wonderful when the room is decorated with modern furnishings. A contemporary bed, industrial-style bedside tables and bright colors makes this a statement look.

Make it monochrome


The beauty of black and white is that it allows you to play with different patterns without the room feeling busy. White walls and bedding will keep the scheme light and airy and enable darker shapes to stand out in sharp relief.


Also read: Want Your Apartment To Look Bigger? Apply These Simple Hacks

Back to All Thane Real Estate Articles


Get More Information About Residential flats in thane ghodbunder road For More Real Estate In Thane Details Visit Propertythane.com Or Email Us On info@propertythane.com

Source: www.msn.com

Design tips for elderly-friendly homes

 December 2019


2 and 3 BHK Flats in Thane - Design tips for elderly-friendly homes
Source : Freepik.com

Designing your home is much more a task of responsibility then just deciding where the sofa should go and which showpiece should be placed where. In this line of work we have seen many good, bad and strange designs when it comes to Interior Designing. It takes no time to take wrong decisions which are very hard to change. So take a look at these easily avoidable mistakes to which any one of us can fall prey of.

1. Choosing a Colour Palette Which Does Not Coordinate


We are always favouring to use a colour. Using a colour or two brightens the room, but if a colour is used all over the room its nothing then a décor disaster. Contrary to peoples thinking, using an odd set of colours will not create a dashing look as you must have read in the Architectural digest. There’s a thin line between being colourful and chaotic, if there is no colour palette that grounds your design then your room may look disjointed. But if you choose a colour scheme which is very flexible, then it can bring the room together looking very beautiful.

2. Choosing the Colour Before Choosing Your Furniture


It is a common trend that people choose the colour of the paint while redecorating their home. It’s a classic case of putting the cart before the horse. We suggest you settle on the important fabrics to be used first. First choose the curtains, pillows and the rugs. If this is done then the colour choosing process becomes much easier. If you choose the colours first, it actually complicates the things because finding furniture which matches the colours you have chosen can get tough, really tough.

3. Pushing the Furniture Against The Wall


This option seems really practical according to common misconception that pushing the furniture against the wall will make your space look bigger…well it’s a misconception. For making the space more look more spacious and inviting there should be a distance of at least 7 cms between your walls and your furniture. If you ask for our advice, you can pull out a piece of furniture or two and allow them to “float” around in the room We know that following rules are a little boring but following some basic interior designing rules can make your efforts to design your home go in the right direction.




Also read: Design tips for elderly-friendly homes

Source: www.studioelements.in


Back to All Real Estate Articles

Get More Properties in Thane City And Stay updated with us At Propertythane.com


Factors Impacting Price Rise in Residential Real Estate

 March 2020


Best Real Estate Projects Thane | Factors Impacting Price Rise in Residential Real Estate
Source : freepik.com

Many of you understand real estate as a gamble. While some are able to double their money, others are not able to earn beyond what they already invested. So is it luck which favours a few and not others? Of course not. It’s the understanding of the market forces and factors impacting price appreciation.

If you too are planning to invest in property and book monetary profits, you must decide basis the factors which could impact the total gains.

Location


When buying a Residential Property, location must play a decisive role. It not only impacts the price appreciation of a property, but also the resale value.

In Mumbai, the western suburbs such as Andheri, Malad, Bandra and Santacruz are divided into East and West. The western areas command a premium in comparison to their Eastern Counterparts. This is because the West faces the sea, offers premium apartments and is lesser congested in comparison to the East which grapples with heavy traffic snarls and water logging.

It is often noticed that developers charge preferential location charges (PLC) based on the level of floor or position of the property with respect to open areas or parks. It is for the same reason that a location which offers convenience and a decent quality of living attracts homebuyers and thus commands a premium or calls for higher price appreciation.

Other factors which could aid price appreciation in a location are proximity to the social infrastructural features such as hospitals, schools and other educational institutions, markets and recreational zones such as parks and malls.

Job Creation is also an important factor impacting the prospects of a location. Areas close to commercial pockets record healthy demand from end-users looking to stay closer to their workplaces. Gurgaon is a classic example of a location which successfully grew on the back of job creation.

Infrastructure And Connectivity


Homebuyers must understand the difference between a desired and a preferred location. A location could be desired for purchasing a property for its proximity to the workplaces, but it may not be preferred due to absence of transportation facilities.

Infrastructure and connectivity play an important role in driving the housing demand in a location and thus the price appreciation. Locations close to transport corridors such as Metro and airport are expected to record higher capital appreciation in comparison to those which are not well connected.

Time Of Entry And Exit


While selecting a location with all factors of growth is of paramount importance, it is also essential to consider the time of entering the market.

Usually, the property values grow as a project progresses towards completion. Most investors, for this reason, prefer investing at early stages of a project and liquidate when end-users start entering during the middle-phases of construction.

While investing in an early launch is ideal, investing in pre-launch, comes with certain risks and is not advisable for first-time homebuyers and those with a low-risk taking capacity.

A few potential risks of pre-launch properties are –

  • Lack of approvals could result in inordinate delays or even scrapping off of the project
  • No guaranteed timeline for the completion of the project
  • No assurance of returns as that would depend on total sales

In addition to this, the time of exiting the investment also decides the gains an investor would make. Remaining invested for years does not necessarily mean high returns. Any location reaches a saturation of growth. Investors must gauge the market dynamics and plan their exit strategy well.

Interest Rates


Price appreciation is indirectly linked to the interest rates. A fall in interest rates influences an individuals’ capacity to avail housing loans, thus increasing the demand for real estate. A converse situation results in dropping demand and therefore dropping prices.


Quality Of Property

As a general rule, quality products command a premium. The same goes true in real estate as well. Good quality constructions command a premium over low-quality constructions. The prices of better quality properties also appreciate more than the lower-quality properties. Thus, investors looking for high returns must go for quality, even though they may cost more than the other product available to purchase.

There is no thumb rule to make a profitable investment, however, the above stated factors could help you gauge the expected potential of appreciation. Though there are exceptions in all cases, but in India, these factors have mostly resulted in positive results.



Also read: Busting Myths Around Factors Affecting Your Credit Score

Back to All Thane Real Estate Articles


Get More Information About Best Real Estate Projects Thane For More Real Estate In Thane Details Visit Propertythane.com Or Email Us On info@propertythane.com

Source: economictimes.indiatimes.com

Busting Myths Around Factors Affecting Your Credit Score

 February 2020


new projects in thane ghodbunder road | Busting Myths Around Factors Affecting Your Credit Score
Source : freepik.com

Maintaining a good Credit Score is extremely important as banks take this into consideration while approving a loan. Read on to know the factors that affect your Credit Score and the myths around it.


Your Credit Score is an important aspect that you need to take care of to keep your financial credibility positive in the long term. If you need to apply for a loan from the bank, then the first thing that your bank does is to check your Credit Score!


You may have seen number of articles on the internet talking about the importance of Credit Scores for quick loan approvals. A credit report with no errors and a score of 750 or above can help you fetch a sizeable loan smoothly.


However, people are often confused about what they should do to maintain a good Credit Score. As a result, they don’t pay much heed to what can actually affect their Credit Score. On the other hand, there are some people who pay too much attention to their Credit Score that they are often left disillusioned.


There are few things which can impact your Credit Score negatively, but not everything will negatively impact your score. In this article, we take a look at some financial matters and habits, which have no connection to your Credit Score and therefore bust myths around it.


Income Level And Job Type Has No Connection With Your Credit Score

Some people have the misconception that an individual with low or average income have below average Credit Score and therefore they have less chance of getting a loan from the banks. In reality, income has nothing to do with the Credit Score.


Banks check income level to ascertain the repayment capacity of the applicant and if they find out that the applicant won’t be able to repay the loan based on the existing income, then it may reject the Loan application. There is no connection of Credit Score and income level for loan eligibility.


Similarly, your nature of job doesn’t impact your Credit Score. Whether you are in a job, business or self-employed, it does not have any influence on your Credit Score.


Cash In Your Bank Account

It is a good habit to maintain some liquidity in your bank account, but if you do not keep enough balance in your account, then you need not worry as it has no impact on your Credit Score.


Sometimes, banks penalise the customer for non-maintenance of monthly average balance (MAB) or keeping less money than the required minimum balance, but such charges have no consequence on your Credit Score.


The way you manage your savings bank account has nothing to do with your Credit Score, but you must manage your bank accounts properly to avoid unnecessary charges. The way you manage your bank account reflects how financially disciplined you are.


Debit/ATM Card Or A Prepaid Card Usage

Some people confuse between the Debit Card and the Credit Card and therefore they have the misconception that using the Debit Card can impact their Credit Score.


It is important to understand here that Credit Card is a spending tool and it is very much like a recurrent Personal Loan instrument which is unsecured in nature, therefore, delay in payment of the utilized amount or a high utilization ratio can negatively impact your Credit Score.


On the other hand, when you use the Debit Card, you can spend only whatever money is available in your bank account. So, a Debit Card or a prepaid card is not a credit instrument, therefore it doesn’t impact your Credit Score in anyway.


Impact Of Spouse’s Credit Score

Some people have the misconception that financial indiscipline of their spouse can impact their Credit Score. In reality, there is no link between the Credit Score of two individuals.


So, the credit report of spouses is independent of each other’s financial activity. However, if you are looking to raise a loan as a co-borrower with your spouse, then the Credit Score of both the applicants is checked individually. The bank may reject the loan if it is not satisfied with the Credit Score of any of the co-borrower.


Apart from above-mentioned points, your Credit Score will not get affected by buying or selling an asset, living in a rented home or late repayment of a debt taken from your relative.


Things that may impact your Credit Score are unsecured loan repayment history, credit utilisation ratio, number of inquiry for unsecured loan and settlement of an unpaid loan.


So, you should be careful about the things that can really impact your Credit Score and do not bother unnecessarily about things which have no influence on it.


BankBazaar is a leading online marketplace in India that helps consumers compare and apply for Credit Card,Personal Loan,Home Loan,Car Loan and insurance.


The post Busting Myths Around Factors Affecting Your Credit Score appeared first on BankBazaar - The Definitive Word on Personal Finance.



Also read: Mall Culture, Craze for Online Shopping Sting Retail Outlets

Back to All Thane Real Estate Articles


Get More Information About new projects in thane ghodbunder road For More Real Estate In Thane Details Visit Propertythane.com Or Email Us On info@propertythane.com

Source: www.msn.com