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The Advantages of Living in an Apartment in Bangalore

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Bangalore is one of the busiest cities in India and finding an ideal home here can be an uphill task, especially when you factor in the time taken to commute from home to work, your child’s school, markets and entertainment areas in the city. To cut down on time spent travelling, many residents prefer to move into an apartment because such complexes offer good connectivity to amenities.

Take a look at the advantages associated with choosing this option.

Budget-friendly homes of all sizes

In Bangalore, property is being offered at various price points and you can buy a 1 BHK or a lavish 4/5 BHK duplex apartment basis your needs and budget. Note that the prices of apartments also vary depending on the facilities provided, quality of build and location apart from the carpet area and fixtures. For example, Sobha Dream Acres located in Panathur offers 1BHK and 2BHK apartments. It is spread over 81 acres to provide a serene and calm living experience. With a plethora of options, you can either choose a basic project or one like Sobha Dream Acres that offers the experience of an oasis.

Sobha Dream Acres.jpeg

Increased safety

Safety is a prime consideration and a point that distinguishes living in an apartment from living in an independent house. There is no doubt that apartments offer better safety as the entrance is protected by a slew of security personnel who are present around the clock. They check IDs of non-apartment dwellers before letting them in and keep an eye on delivery personnel and domestic help as well. Further, security cameras and constant surveillance improve safety by deterring miscreants. If you choose an independent house the responsibility of arranging for security falls on your shoulders, and isolating your residence is much easier for a troublemaker as opposed to identifying your flat in an apartment complex.

Access to numerous facilities

Modern apartments come with various facilities that enhance your living experience. These include 24-hour water supply, 24-hour solar-heated water, power backup via UPS as well as generator back-up, multiple elevators and more. In addition, exclusive apartment complexes also offer owners elevators that open directly into your apartment. Other facilities include a safe child play area, a clubhouse with sports facilities and indoor games. When you buy an apartment you can enjoy all these facilities, however, building this ecosystem for your independent home isn’t feasible or cost-effective.

Appreciation in value

Like all properties, apartments will also increase in value over time. The advantage with large apartment complexes is that many amenities such as office spaces and supermarkets open up in the vicinity to cater to those living in the apartment complex. The creation of this support infrastructure helps boost the value of your investment as everything you may need is a stone’s throw away.

The best news of all is that as investors and home buyers flock to this IT paradise, developers are building more apartments to cater to the increasing demand. To navigate the Bangalore property market you can rely on home loans by Bajaj Housing Finance Limited. Here you will not only get an affordable home loan but also assistance with finding the right property, in-person aid for site visits, help with documentation and more.

Hi. I am Muhammad Mubeen Hassan. I am SEO Expat and Wordpress Websites Developer &  Blogger. 27 years old. I help entrepreneurs become go-to in their industry. And, I like helping the next one in line. You can follow my journey on my blog,  Odyssey OnlineAll Note AbleB2B Guru PlanCross ArticleDj Soft WorldFinance PressHufforbesLife Health Press BusinessStrong ArticleThe Top StoriesUS Update ZoneBusiness TodayScience NewsEssay Writing AcademicElite Guide Health If you need any post so you can email me on my this Email: mubeenh782@gmail.com  

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Top 5 Reasons Why Banks Reject Loan Applications & How You Can Avoid Them When Reapplying

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Top 5 Reasons Why Banks Reject Loan Applications & How You Can Avoid Them When Reapplying

Personal loans are a source of emergency funding for many people. But loan seekers must remember that applications for personal loans may get rejected. There are many reasons for loan rejection, and it is good to know them before applying. A personal loan rejection does not necessarily mean that you are not creditworthy. Understand the reason why you were refused credit loans, and you can easily avoid loan rejection when reapplying.

Here are the most common five reasons for loan rejection –

  1. Poor Credit History

Individuals who borrow and repay loans on time have high credit scores based on their history of repayment. If you have never borrowed before or have defaulted on a loan in the past, this will reflect in your credit score and may get you a loan rejection.

  1. Low-Income Level

Lenders analyze your income records to determine whether or not you will be able to afford the monthly installments. If the bank or the lender cannot verify your income with the information you have given or if they think that your income is insufficient – it may lead to a loan rejection.

  1. Debt to Income Ratio

A high debt to income ratio means that you are already spending a large part of your income in paying off your current debts. This is important, as it helps lenders determine whether you can take on another loan payment or not. People with low debt to income ratio are never refused credit loans.

  1. Living in a Location Where Defaults are High

It may surprise you to know that banks and lenders mark geographical locations where defaulters live. If your address reflects a location where many defaulters live, you could face a personal loan rejection.

What Should You Do Before Reapplying?

In case your loan application gets rejected, don’t worry. For refused credit loans, lenders are obligated to send a notice of adverse action informing the applicant about the reasons for denial of the loan. Here are a few simple steps you should take before reapplying.

  1. Take a Look at Your Credit Reports: Obtain your credit reports online for analyzing your credit history and score. Reviewing your credit reports will help you identify the problems such as late payment or defaults that led to your loan rejection.
  2. Evaluate Your Debt-to-Income Ratio: Taking a look at your current debts vis-à-vis your income will help you understand if you have sufficient income to repay the loan you had applied for. Creditors usually look for a debt-to-income ratio lower than 36% for good creditworthiness.
  3. Discuss the Loan Rejection with Your Lender: After analyzing your credit reports the best thing to do is to talk to your lender. They will guide you about the right reason why your loan application was rejected and how long you need to wait before reapplying.

Author Bio:

Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com.

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