Real Estate Blog 360: How to Buy a House - What happens during the purchase process?

Real Estate Blog 360: How to Buy a House - What happens during the purchase process?

Seven Reasons to Buy a Property

Buying your first site is a milestone; it can be a true joy because it gives you the freedom to create your own abode -- and it can also have a tremendous impact on your bottom line. There are numerous reasons to buy a site, depending upon your family or financial situation. Owning a site can give you a sense of stability and security. Though the real estate market takes hits, historically, it also rises, which can lead to financial gain.

Security

A site has historically been a hedge against inflation.  A site can give your family stability and security because you can raise a family in the same neighborhood through the years.

Investment and Equity

When you make payments toward your site, banks will help to construct house, you are purchasing a major possession, whereas when you pay rent, you own nothing. If you are fortunate to buy a home that increases in value, which they historically do, you will have equity that you can tap into to make improvements, create a wealthy fund or use for emergencies. Even in a down market, if you hang on to your home for the long run, it's a safe investment that is likely to grow.

Improvements

You can make major improvements to your property and do with your own property as you wish. If you move into a home with a pink tiled bathroom, you don't have to try to disguise it or work with what you have. Permanent improvements increase the value of your property and enhance the joy of living in something that's truly all your own.

Tax Shelter

Owning a property provides numerous tax shelters that can significantly reduce your tax burden. You can use mortgage interest and property taxes as a write-off. If you use a portion of your home for business, your home office will also yield deductions, such as depreciation and some improvements. As a rule, the earlier you are into your mortgage, the more interest you may each month and the greater the tax break.

Low Interest Rates

Compared to past decades, interest rates are at historic lows. The lower the interest rate, the more house you may be able to buy with a lower payment.

Garden

When you own a home, you also own the property on which it sits. A garden or yard where you can relax, grill your dinner, plant roses or vegetables can be just as enjoyable as your abode.

Community Voice

Neighborhood property owners typically have a greater voice in policy-making than renters who tend to be more transient and not as firmly routed in the community. Issues concerning land development, local schools, zoning and traffic can be influenced by property owners through neighborhood associations.

IT Employees Housing Society: IT Housing Society Ltd. Bengaluru, Karnataka, INDI...

IT Employees Housing Society: IT Housing Society Ltd. Bengaluru, Karnataka, INDI...

IT Housing Society Ltd. Bengaluru, Karnataka, INDIA

ITH Plan for this Year!

ITH Promoters

ITH Promoters

IT Housing Co-operative Society Limited, Bangalore -- ITH - Work in Progress - Update of June 2012

How to Register with IT-Housing society?

How to Register with IT-Housing society?

Ø  Application forms available with our promoters/volunteers.

Ø   Application can be downloaded from website and sent to office address by courier.

Ø   Online membership registration will be coming soon.

With each filled application please provide:

Ø  1 ID/Address proof

Ø  3 photographs

Ø  Cheque / DD for Rs. 2500

Note: In total 2500 Rs. - 2,000 Rupees is the share amount and Rs. 500 will be the admission Charges.

Rs. 1000 x 2 shares certificate will be given with each membership.

For Queries Contact us @:

IT HOUSING CO-OPERATIVE SOCIETY LTD.

#133, 11th Main, BCC 2nd Stage, Chandra Layout, Bangalore - 560 040, INDIA

+91 80 4090 9269, +91 99728 72712 / 99728 72721.

Email: info@ithousingsociety.com

Website: www.ithousingsociety.com

530 Members Registered!!

IT Employees Joining hands

Meaning of Co-operative Society

Meaning of Co-operative Society

Let us take one example. Suppose a poor villager has two cows and gets ten liters of milk. After consumption by his family everyday he finds a surplus of five liters of milk. What can he do with the surplus? He may want to sell the milk but may not find a customer in the village. Somebody may tell him to sell the milk in the nearby town or city. Again he finds it difficult, as he does not have money to go to the town to sell milk. What should he do? He is faced with a problem. Do you have any solution for him?

One day that poor villager met a learner of other Co-operative Society who had earlier experience. The learner told him, you see, you are not the only person facing this problem. There are many others in your village and also in the nearby village who face a similar problem.  Why don’t you all sit together and find a solution to your common problem?  In the morning you can collect the surplus milk at a common place and send somebody to the nearby town to sell it. Again in the evening, you can sit together and distribute the money according to your contribution of milk. Of course first you have to deduct all the expenses from the sale proceeds.

That villager agreed to what the learner said.  He told everybody about this new idea and formed a group of milk producers in his village. By selling the milk in the nearby town they were all able to earn money. After that they did not face any problem of finding a market for the surplus milk. This process continued for a long time. One day somebody suggested that instead of selling only milk why not produce other milk products like ghee, butter, cheese, milk powder etc. and sell them in the market at a better price? All of them agreed and did the same. They produced quality milk products and found a very good market for their products not only in the nearby town but in the entire country.

Just think it over. A poor villager, who was not able to sell five liters of milk in his village, is now selling milk and milk products throughout the nation. He is now enjoying a good life.

How did it happen? Who made it possible?  This is the reward of a joint effort or Co–operation. The term Co-operation is derived from the Latin word co-operari, where the word co means ‘with’ and operari means ‘to work’. Thus, co-operation means working together.

So those who want to work together with some common economic objective can form a society which is termed as “co-operative society”. It is a voluntary association of persons who work together to promote their economic interest. It works on the principle of self-help as well as mutual help. The main objective is to provide support to the members. Nobody joins a cooperative society to earn profit. People come forward as a group, pool their individual resources, utilize them in the best possible manner, and derive some common benefit out of it.

In the above example, all producers of milk of a village joined hands, collected the surplus milk at a common place and sold milk and milk products in the market. This was possible because of their joint effort. Individually it would not have been possible either to sell or produce any milk product in that village. They had formed a co-operative society for this purpose.

In a similar way, the consumers of a particular locality can join hands to provide goods of their daily need and thus, form a co-operative society. Now they can buy goods directly from the producers and sell those to members at a cheaper price. Why is the price cheaper?

Because they buy goods directly from the producer and there by the middlemen’s profit is eliminated.  Do you think it would have been possible on the part of a single consumer to buy goods directly from the producers? Of course, not.

In the same way people can form other types of co-operative societies as well. Let us know about them.

Types of Co-operative Societies

Although all types of cooperative societies work on the same principle, they differ with regard to the nature of activities they perform. Followings are different types of co-operative societies that exist in our country.

1.     Consumers’ Co-operative Society: These societies are formed to protect the interest of general consumers by making consumer goods available at a reasonable price. They buy goods directly from the producers or manufacturers and thereby eliminate the middlemen in the process of distribution. kendriya Bhandar, Apna Bazar and Sahkari Bhandar are examples of consumers’ co-operative society.

2.     Producers’ Co-operative Society: These societies are formed to protect the interest of small producers by making available items of their need for production like raw materials, tools and equipments, machinery, etc.  Handloom societies like APPCO, Bayanika, Haryana Handloom, etc., are examples of producers’ co-operative society.

3.     Co-operative Marketing Society: These societies are formed by small producers and manufacturers who find it difficult to sell their products individually. The society collects the products from the individual members and takes the responsibility of selling those products in the market. Gujarat Co-operative Milk Marketing Federation that sells AMUL milk products is an example of marketing Co-operative society.

4.     Co-operative Credit Society: These societies are formed to provide financial support to the members. The society accepts deposits from members and grants them loans at reasonable rates of interest in times of need. Village Service Co-operative Society and Urban Cooperative Banks are examples of co-operative credit society.

5.     Co-operative Farming Society: These societies are formed by small farmers to work jointly and thereby enjoy the benefits of large-scale farming. Lift-irrigation co-operative societies and pani panchayats are some of the examples of co-operative farming society.

6.     Housing Co-operative Society: These societies are formed to provide residential houses to members. They purchase land, develop it and construct houses or flats and allot the same to members. Some societies also provide loans at low rate of interest to members to construct their own houses. The Employees’ Housing Societies and Metropolitan Housing Co-operative Society are  examples of housing co-operative society.

IT Employees Housing Society: Group buying power

IT Employees Housing Society: Group buying power:                                                    GROUP BUYING Group buying power is "when a group of consumers come together and use t...

Group buying power

                                                  GROUP BUYING

Group buying power is "when a group of consumers come together and use the old rule of thumb, there's power in numbers, to leverage the group size in exchange for discounts".

IT housing society attaches the power of group buying and uses it to negotiate with investors/builders/developers for substantial group discounts.

Group buyers and investors have already achieved huge discounts and savings through many CO-OPERATIVE societies through out world for example: BSNL CO-Operative society.

Benefits to Buyers / Substantial Cost benefits  
Benefits for buyer range from 10% to 25% on the market price of the property. For example, for a plot / house of Rs.50 lacs, the benefit would amount to between Rs.5 – 12.5 Lacs.

Simplified purchasing process
A team of IT housing society perform the research and go through a rigorous selection process to find trustworthy projects. IT housing society has a unique property check list test which if passed only then is dealt further. We take care of all the negotiations to ensure you are getting an impressive and the most beneficial deal.
Note: In order to ensure that the benifits range, we recommend you to take the property pricings by self-research or by any other ways.

Greater accountability of project
Our team of experts from various fields will independently monitor the progress of the project and deliver periodic updates to buyers with pictures and videos on http://www.ithousingsociety.com/ website.

Benefits to Property Developers
Group-booking is nothing new, it's simply the traditional whole sale price and the retail price concept. Developers can get onetime booking of larger number of units and can therefore afford to offer significant discounts. It is similar to, yet better than prelaunch offers often made to large investors by developers prior to starting a project.

Join Hands!

Join hands with IT housing society for group buying program for Savings. All this with value based and uttermost transparency!

WHO ARE WE

IT HOUSING CO-OPERATIVE SOCIETY

WHO ARE WE

A group of IT people come together with the shared aim of providing good quality, low cost housing. With a vision of “integrating IT employees for a Safer, better and healthier life”.

This group elects a committee of volunteers and, when it can afford to do so, the association employs suitable staff to manage the housing and real estate. Using money from investors, commercial and / or charitable sources the housing society plan and develop new or improved housing layouts.

As there is a shortage of decent affordable housing plots for IT employees in Bangalore, IT housing society here let to people in the greatest need. Being the society of IT employees any financial surplus made by Society is ploughed back into maintaining societies existing Properties, Providing dividends to members or for providing more residential projects.

The most up-to-date information on the IT housing development projects may be viewed on the IT Housing co-operative societies website. Click projects to take you to the page. 

Why Should You Buy Land?

IT HOUSING CO-OPERATIVE SOCIETY

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”

-F.D. Roosevelt

Why Should You Buy Land?

Land is the basis of all wealth, the heritage of the wise, the thrifty and prudent. It’s the poor person’s joy and comfort, the rich person’s prize, the right hand of capital and the silent partner to thousands of successful people.

Land is the solace of the widow, the comfort of old age, and the cornerstone of security against misfortune and want. It’s handed down through generations, as a possession of great value. The value of land is growing through countless days. Though it may seem dormant, the value of land increases, never falling, never ceasing. Time is an aid and the ever increasing population adds to its gain. Land has the ability to defy fire and the elements—for they cannot destroy it.

While all other things wither and decay, land alone survives. As centuries pass land becomes younger, always increasing in strength. All oils and minerals come from land. It is the producer of food, building materials and the home to every living thing on this planet. Land serves as a foundation for homes, factories, banks and stores.

Although land has not been produced for millions of years, it’s so common that thousands of people, unthinking, and unknowingly pass it by.

Real Estate business in India has emerged as one of the most profitable businesses in the recent years. Investing in Real Estate in India is sure to fetch you a rewarding deal as the returns on investment in this sector are at an all time high. Thus, the real estate business has attracted several foreign investors also, who are investing in the properties all over the country.