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How to check whether a property is mortgaged or not?

Today there have been more instances of fraudulent real estate than ever before. Many cases have been registered where multiple loans have been sanctioned against the same property. How can you check whether the property you are going to buy has been mortgaged before?

Here’s a guide from Vishraam Builders, leading builders in Thrissur, on how to go about it…

Can a builder take a loan on already sold units of flats?

No, the builder cannot mortgage flats already sold to homebuyers. According to law, the builder’s authority over a unit within the project is given up as soon as the buyer gets the property registered under his name at the sub-registrar’s office. After paying the registration and stamp duty charges to the government authorities and clearing all earlier dues, the homebuyer is the legal owner of the apartment .

When you are looking to buy a flats in Thrissur, it is easy now to find out whether the property is mortgaged with any bank or a housing finance company. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) will help you do so. It is a new company incorporated by the department of financial services under the aegis of the ministry of finance.

What is the registry?

The CERSAI will act as a central registry and maintain records of all properties against which loans have been sanctioned. The registry will also maintain the records of all properties auctioned by asset reconstruction companies. CERSAI acts as a risk mitigation tool for the Banks / Housing Finance companies, FIs and public at large to prevent multiple financing against the same property.

How can you access

Online search is possible on the website of the registry to enable them to inspect the property records maintained by the Registry. The search can be made on the basis of both Asset Details like property registration number, address and Debtor’s details to get you information on its loan status by paying a small fee.

The limitations

In CERSAI, it has not become compulsory for lending institutions to provide details of the property against which there is already a loan running. This means the registry will showcase the status of properties on which loans have been taken recently. However, the government may make it mandatory for lending institutions to provide details of properties on loan for which a repayment tenor of at least one year is left.

Another problem is that CERSAI will not account for properties on which loan has been taken from a non-banking finance company. This will again limit the registry’s jurisdiction. Buyers of flats in Thrissur are often expected to give a lump sum even before the loan is sanctioned. In such cases, buyers can themselves run a check before settling for a deal.

Hence be cautious before settling on a property deal. Vishraam Builders, prime Builders in Thrissur brings to you legally clear Flats in Thrissur with proper documentation. Get in touch with us to know more…

Benefits of Property Insurance

Have you insured your property? If not, it’s time you did! With the rising costs of living increasing day by day, as a homeowner, it is your responsibility to protect your home & its contents. Your home is the biggest & most costly investment you’ll ever make in your lifetime. It is only sensible to protect your investment with insurance.

Here are a few benefits of property insurance brought to you by Vishraam Builders, eminent builders of flats in Thrissur & apartments in Guruvayur.

Protection against Liability

It’s a lesser known benefit of property insurance policies. When you’re a careful homeowner you can prevent a lot of accidents and injuries, but when an incident happens like a fire or mechanical damage which could include your neighbor’s home, your property insurance Liability coverage can be of help. It protects against these costly incidents & will also cover the medical expenses of a guest injured in your property.

Protection against Power Outages

Power outages can occur from time to time in flats in Thrissur & these can cause serious damage to your devices and shorten their lifespan significantly. Property insurance can cover losses caused by power outages.

Protection against Property Damage

You get coverage against a lot of natural disasters like monsoons and floods, fires, earthquakes, theft, and other weather-related damages. Whatever be your property size, location, and other security features that you may have added there’s always the danger of fires, floods, or burglaries.

Protection for Art and Jewelry

Homeowners of apartments in Guruvayur who possess expensive jewelry, art pieces, or other valuable possessions in their home can think about an add on feature to your property insurance. This will pay out for any damages to your personal items. Keep in mind, though, that these add-ons only usually have a fixed amount that will be paid.

Protection for Commercial Ventures

When you rent your flat in Thrissur out to a third-party you are held responsible for any structural damages or personal injuries that they may cause during the occupancy. Your property insurance can provide protection against damage for all these.

Points to keep in mind while insuring your home:

Always maintain proof of all your insured items in order to claim them.
No claims can be made for unauthorized construction, so make your investment wisely.
Get a quote of the reconstruction cost from a contractor for extensive coverage when the time comes for policy renewal.
The home insurance policy only covers the building and its components. It does not cover the land.
Tenants can insure the contents of the house they are living in.

You can get the ultimate luxury of peace of mind by getting your home insured. Be it an apartment in Guruvayur or a villa, once you have selected your policy and paid your premium, protecting your property is no longer your responsibility but that of your insurer. Now that you know the benefits of property insurance get along & do it ASAP!

Home Automation for Smart Apartments

Smart technology is ruling the home automation sector nowadays! Progressing from simple timer-regulated thermostats and keypad door-locks into more innovative technologies. More and more home automation systems are designed with apartment dwellers in mind, and you can now incorporate smart technology in your apartments in Guruvayur or flats in Thrissur without breaking the bank.

Here’s a run-in on Home Automation for Smart Apartments from Vishraam Builders, eminent builders of apartments in Guruvayur or flats in Thrissur.

Climate control

The 3rd generation Nest Learning Thermostat is a must have for high-tech homeowners of today who wish to save on heating and air conditioning costs through interactive programming and online management. It not just fulfills the function of keeping your home at a comfortable temperature, but also learns your habits and automatically adjusts itself to suit your needs. The climate control has built-in Wi-Fi that can be controlled by any device and additional sensors, & you’ll be able to change your temperature from miles away.

Lighting automation

Are you a person who has the habit of leaving lights on? It can lead to wasted electricity. Home lighting automation can make it easy to activate or deactivate the lights in your apartment with the push of a single button. Lights can be easily turned on and off remotely, change their color and intensity, flash to signal incoming email messages and more.

Smart television

Your home is your place to relax and unwind. What better way than zoning out in front of the television? With a smart TV in place, you don’t even have to rely on the Cable Network to get your favourite TV shows. The Smart TV will have internet capability and web-based features built directly into the television itself. You can access computer media files, enjoy online services, visit web pages, record videos, and play streamed games with the Smart TV.

Automated door locks

Home automation can also be used to ensure the safety of your property which is very important. Your door lock can be majorly upgraded with home-automation security. A simple software interface provides a top-notch performance in a Smart lock. The lock can also be manually operated with the use of a key, in case something goes wrong. It keeps a complete record of those who enter and leave the house.

Home Surveillance

Security camera surveillance is needed if you want to know exactly what is happening in and around your home when you’re not around. You have many options in security Cameras.

Amazon Echo along with its voice-activated smart speaker, Alexa, is the perfect centerpiece in home automation, that will be the central control point for your smart home devices. Living in an apartment need not limit you in the home automation front. You can always go for affordable smart technology which is available today.

If you have any other suggestions or tips when it comes to Home Automation for Smart Apartments? Do share them with us!

Things you’ll need for your first home

It is a moment of pride for anyone to move into his/her own home. If you are going to start living in flats in Thrissur or apartments in Guruvayur, how to setup the new home and where to start are questions you face when you set up your own place for the very first time. We are sure you might be having your own long list of things to buy. But let’s start off by checking out the list of bare essentials here – the things you’ll need for your first home to live comfortably and safely.

To liven up your space

Furniture & furnishings along with accessories are an absolute necessity if you want to relax in your new home. So buy wisely! Things needed will be Chairs, Coffee table, Curtains (including the rods), Bookshelves, Lamp, TV along with a stand or mountings to keep it, Wall hanging, Photo frames & cushions.

Laundry Basket

You may not want to ruin your bedroom or the bathroom with dirty laundry strewn about. Just store them in style with good looking laundry baskets.

Making Cleaning easy

New place or old one cleaning is needed. So be prepared with the dusters, dust pans, cleaning agents and soap buckets, Wiping clothes, Scrubbers, Sponges, Washing liquid, Cleaning sprays, General disinfectant, Sweeping brush, Mop & Vacuum cleaner.

Sleeping at peace

Sleeping comfortably in your flats in Thrissur is a most essential thing! The most important things needed in a Bedroom are Bed, Bedside table, Mattress, Bedside lamp, Bed sheets, Duvet and its cover, Pillows and their covers, Wardrobe, Alarm clock or any wall clock, Chest of drawers, Dressing table, Clothes hangers & more. Buying a Divan bed or a futon is a brilliant idea if your new home is short in space.

All for a functional kitchen

Unless the kitchen is set, an apartment is incomplete! A fully functional kitchen needs a Kitchen table, Refrigerator, Dustbin, Kettle, Toaster, Microwave/Gas oven, Blender/ Mixer are the basic kitchen appliances needed. Get a basic set of Plates, Spoons, Forks, Knives, Drinking glasses, Cups and mugs and cookware to prepare and eat your meals.

Emergency light

An absolute necessity in your new home! Be prepared for the frequent power failures in the state.

A little bit of green

It’s always good to bring in a little bit of greenery inside the house. Fresh plants and flowers can fill up a room with positivity, calm and freshness. You can have potted plants, hanging pots or a bunch of flowers & feel the difference it makes to your room.

Hardware tools & equipment

You can take care of any small installation or repair with proper tools & equipment like Screwdriver, Tester, Step ladder, Hammer, Pliers, Drill etc.

Now that you have the list of things you’ll need for your first home in place, it’s the time to look around & shop wisely. Vishraam Builders, eminent builders in Thrissur brings to you flats in Thrissur & apartments in Guruvayur, to set up your new home. Call us to know more.