OUR OFFICE
VIRAJ ESTATES | VIRAJ REALITY, 4th floor, Abhyankar Towers, Mahatma Gandhi Road, Nashik–422001
Built on the pioneering thoughts of innovation and excellence, Viraj Estates is set to recreate the luxury housing sector and commercial spaces of Nashik City.
Viraj Estates ventured into land development over three decades ago. The company was majorly into the creation of land layouts, providing plots to end-users for residential projects / Townships and commercial activities. While along the way dabbling into a few stand-alone construction projects in some of the prime locations in Nashik City.
Backed up with a vigilant practice of prioritising trust every step of the way, Viraj Estate has been developing a loyal customer base. With some of the ventures spread across Aurangabad, Ahmadnagar, Malegaon, and the surrounding areas, the company has been impeccably creating visionary projects defined by inspirational ideas.
The year 1981 was when Viraj Estates first started changing the face of real estate. The first venture began by purchasing a plot and then constructing a building over it. A wise investment and well-executed construction naturally ended up being fruitful along with garnering substantial profits. This success nudged our founding directors into the real estate business. Since then the company has been flourishing in and around Nashik City with 100% devotion and perseverance.
Building an expert team that specialises in the land-buying process in prime locations has helped us develop nearly 500 to 600 layouts consisting of more than 1000 plots. Providing the plots to the residents of Nashik at the most competitive prices has enabled us to get an edge over our competitors. Our founders believe in lifting up talent and thus have always opened the real estate doors for aspiring businessmen lacking a support system.
The work philosophy at Viraj Estates is governed by the fundamental beliefs of Integrity, Long Term Partnership, Customer Focus, and Commitment to Deliver. Our founders enforced these moral codes from the beginning and they have been carried forward through our practices, decision-making process, and various other initiatives.
Articulating the values in our team and keeping a performance focus is how we function and we create a robust setting for them to be their best. Our customers trust us to always deliver the best and we trust our employees to put their best effort to satisfy the customers. This is possible because of the employee-friendly policies we implement
The mission is to build a future where Viraj Estates promises to become a renowned name for developing innovative spaces that pave the way for new possibilities in the world of real estate. Customers are the centre of our every endeavour and we strive to add value to them along with our business associates and stakeholders while giving back what we have gained from the society.
And the vision is to reach new heights in the real estate industry while providing an elevated lifestyle to our customers and investors is the ultimate goal. Developing long term relations with all our investors, and designing strategies that are highly customer-centric has and will always be our priority. To focus on developing the finest living environment by delivering exemplary projects with ideal practices, quality work.
The first step is to determine your budget and get pre-approved for a mortgage. This helps you understand how much you can afford.
Look for agents with local expertise, good communication skills, and a strong track record. Personal recommendations can also be helpful.
Common home loan types include fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, and USDA loans. Your lender can help you choose the best option for your situation.
Closing costs typically range from 2% to 5% of the home's purchase price. Your lender or real estate agent can provide a more accurate estimate.
A home inspection is crucial to uncover any potential issues with the property before buying. It can help you negotiate repairs or price adjustments.
Earnest money is a deposit to show your commitment to buying the home. The amount varies but is typically 1-3% of the purchase price.
The timeline varies, but it typically takes 30-60 days from making an offer to closing. Delays can occur due to various factors.
Contingencies are conditions that must be met for the sale to proceed. Common contingencies include financing, inspection, and appraisal. They can protect you as a buyer.
At closing, you'll sign the necessary paperwork, pay closing costs, and receive the keys to your new home. Your real estate agent and attorney (if applicable) will guide you through this process.
- Your real estate agent can help you negotiate with the seller. Factors like market conditions, comparable sales, and property conditions will influence the negotiation.
- If the appraisal is lower, you can negotiate with the seller to lower the price, bring additional funds to cover the difference or a combination of both.
- Consider factors like safety, schools, proximity to work, amenities, and future resale value when choosing a neighborhood.
- Home insurance, regular maintenance, and staying informed about the real estate market are essential to protect your investment.
- Real estate agents have local knowledge, access to listings, and negotiation skills, and can guide you through the complex process of buying a home.
- In a seller's market, consider offering a competitive price, having a strong pre-approval letter, and being flexible with your terms.
The fundamental process of securing a home loan commences with completing the application form, the initial document that initiates the home loan process. In this form, you provide essential details such as your name, address, occupation, and income. Additional documents needed for your home loan application may encompass information about the property you intend to purchase, estimated costs, and your down payment capabilities. These documents require verification before advancing your loan application. Home loans, characterized by their extended repayment periods, can range anywhere from 5 to 30 years. Financial institutions scrutinize your credit history, particularly evaluating your credit score before approving the loan. They also assess your income in relation to the property's cost to determine your ability to meet the financial obligations.
The initial step is typically getting pre-qualified, indicating the loan amount for which you qualify. Subsequently, pre-approval is granted, conditionally confirming the loan for the house.
Additional costs associated with applying for a home loan may encompass application fees, administrative charges, legal fees, franking fees, notary fees, indemnity costs, CERSAI charges, and documentation fees.
Banks evaluate several financial aspects when considering a home loan application. They examine your income and expenditures over the past few years, review your credit card statements to assess spending habits, and scrutinize any existing liabilities, such as student loans, personal loans, or tax obligations. Credit score also holds significant importance, with a score in the 700 range typically necessary for favorable home loan terms.
When applying for a home loan, it's essential to be aware of the financial costs involved in the process. The initial charge is the application fee, incurred during the document verification. Subsequently, there is a processing fee linked to the cost of credit appraisal, dependent on factors like loan type and amount. Beyond these primary fees, additional charges may include technical valuation fees, CERSAI charges, nominal documentation fees, indemnity fees, legal fees for document scrutiny, and administrative fees, which can vary among different banks.
Home loan processes and documentation vary between pre-qualified and pre-approved home loans:
Pre-qualification typically precedes pre-approval.
Pre-qualification involves providing a comprehensive overview of your financial history, including credit statements, income, and employment details, often verbally.
Pre-approval requires thorough documentation, including income tax returns and balance sheets, along with a comprehensive credit check and financial background verification.
A pre-qualification letter is usually free, while a pre-approval letter may involve costs after loan closure.
Pre-qualification typically doesn't specify the interest rate, whereas pre-approval specifies the interest rate that can be locked in.
Pre-qualification is a relatively quick process, taking 30-45 days, while pre-approval may take around 4-5 days for loan closure.
The Indian Government incentivizes real estate investment and homeownership by offering tax benefits related to home loans. These benefits include deductions under Section 80C:
Deduction for interest paid on a housing loan: The interest component of the EMI is deductible.
Deduction on principal repayment: A deduction is allowed on the principal portion of the EMI, up to a maximum of Rs. 1.5 lakh.
Deduction for stamp duty and registration charges: These can also be claimed within the overall limit of Rs. 1.5 lakh.
Deduction for a joint home loan: Each loan holder in a joint home loan can claim deductions on home loan interest (up to Rs. 2 lakhs each) and under Section 80C (up to Rs. 1.5 lakh each) in their tax returns.
Numerous other benefits may be available, so thorough research is recommended before taking out a home loan.
Home loan EMI payments commence upon the disbursement of funds, typically in the month following disbursement. EMIs are generally paid on a fixed date each month. For example, if the disbursement check was delivered on the 25th of a month, and you choose to pay your EMI on the 5th of each month, your first EMI will cover the period from the 25th to the 5th of the following month. EMIs consist of both principal and interest portions.
The loan tenure significantly impacts the cost of a home loan. EMI payments comprise both principal repayment and interest. In the early years, a higher proportion of the payment goes toward interest. Extending the loan tenure increases the total interest paid, thereby raising the overall cost of homeownership. Shortening the tenure reduces interest costs and the total cost of the property.
Pre-EMI refers to the payment of interest applicable to the loan during the construction phase of the property. It concludes upon the completion of construction. Pre-EMI payments cover only the interest portion, with the principal loan amount remaining unaffected. The pre-EMI period is not included in the loan tenure.
It is suitable for:
Property investors planning to sell the property upon completion.
Borrowers facing temporary income constraints who cannot afford full EMIs, as pre-EMIs are lower in amount.
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Viraj Estates is looking for a dynamic and results-oriented Sales Manager to lead our sales team in achieving and exceeding sales targets. The ideal candidate will be a graduate with 7 to 12 years of proven experience in real estate or related industries, with a strong track record of sales success. As a Sales Manager, you will be responsible for developing and implementing sales strategies, managing a team of sales professionals, and fostering strong client relationships.
Viraj Estates is in search of a skilled Billing & Estimation Engineer to join our team. The successful candidate will have a B.E. in Civil Engineering and possess 5 to 7 years of experience in construction project billing and estimation. As a Billing & Estimation Engineer, you will play a pivotal role in ensuring accurate project cost estimation, billing, and financial control.
Viraj Estates is seeking a dedicated and experienced Quality Engineer to join our dynamic team. As a Quality Engineer, you will play a crucial role in ensuring the quality and integrity of our real estate projects. The ideal candidate will hold a B.E. in Civil Engineering and have a minimum of 5-7 years of experience in a similar role, possessing a strong knowledge of quality assurance procedures and construction standards.
Viraj Estates is seeking a highly motivated and experienced Pre Sales Executive to join our team. The ideal candidate will possess a B.E. in Civil Engineering and have a track record of 2 to 5 years in the real estate industry, with expertise in pre-sales activities. As a Pre Sales Executive, you will play a pivotal role in driving sales and creating positive customer experiences.
Viraj Estates is looking for dynamic and creative Interior Designers to join our team, with positions available for both Junior and Senior levels. The ideal candidates should have 2 to 5 years of experience and a strong proficiency in AutoCAD, Photoshop, VRay, and Sketchup. In this role, you will be responsible for creating innovative interior designs, producing working drawings, and managing on-site activities to enhance the aesthetic appeal of our real estate projects.
OUR OFFICE
VIRAJ ESTATES | VIRAJ REALITY, 4th floor, Abhyankar Towers, Mahatma Gandhi Road, Nashik–422001
