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Coronavirus in India: Tips to keep your house safe from Coronavirus

Coronavirus in India

About Coronaviruses

As the new Wuhan coronavirus has spread not solely over mainland China but also worldwide, panic amongst people is rising day-by-day. Inside China, there is a growing sense of helplessness, because the government is forced to take severe steps to prevent the virus, including some travel restrictions in Beijing. Death toll in China nears 1,500, confirmed cases cross 65,000. Meantime, the World Health Organization (WHO) has warned that confirmed cases of coronavirus are spread among people who have never moved to China. The first possible case of this virus in Ontario was identified on 25th January 2020 and has evidence of limited human-to-human transmission.

What are Coronaviruses?

Coronaviruses are a large family of viruses that can cause illnesses varying from the common cold to serious respiratory infections like bronchitis, pneumonia or serious acute respiratory syndrome (SARS). Some causes illness in humans and others cause illness in animals, such as bats, camels, and civets.

  • Coronaviruses are spread mainly from person to person through close contact, for example, in a household, workplace or health care center.
  • Some human coronaviruses spread easily between people, whereas others don’t.

Your risk of critical illness is also higher if you’ve got a weakened immune system. This might be the case for:

  • Older people
  • People with chronic illness (for example, diabetes, cancer, heart, renal or chronic lung disease)

Advice if your child has a fever and cough

If your child gets a fever and cough, this is what you should do:

1) Call your doctor’s office for advice specific to your child and your community.
2) If your doctor does not think your child needs to be checked, you can help them feel better by

  • being sure they stay hydrated. Make sure they are drinking regularly. Popsicles are a good way to get fluids in and can relieve a painful throat.
  • using acetaminophen or ibuprofen for fever. Check with your doctor’s office about the right dose for your child.
  • using a humidifier to help with congestion.
  • restricting the use of over-the-counter cold medicines in children under the age of 6. They don’t help much (even with kids over 6) and can have side effects. In children over a year, honey can relieve a cough. Use saltwater drops for stuffy noses.

Watch for warning signs of problems, and seek medical attention if they occur:

3) any difficulty breathing (rapid or heavy breathing, sucking in around the neck or ribs, looking pale or bluish)
harsh cough that won’t stop
4) high fever that won’t come down with acetaminophen or ibuprofen
5) extreme sleepiness
6) irritability or pain that you cannot soothe
7) refusal to take fluids, or any signs of dehydration (dry mouth, no tears when crying, not urinating at least every six hours).

Tips to deal with the coronavirus in India

Travelers who have returned from mainland China should:

  • Contact the local public health unit within 24 hours of arriving in India
  • Stay at home and avoid close contact with others, including those in your home, for a total of 14 days from the date you left China
  • Monitor themselves for symptoms of the 2019 novel coronavirus for 14 days after leaving mainland China

What should one do if he/she comes into contact with a person with coronavirus in India?

If you have been identified as a contact of a person with proved coronavirus infection in India, the local public health unit will contact you with advice within 24 hours of arriving in India. This advice will include that you need to isolate yourself at home for 14 days after contact with the infected person, and to monitor your health and report any symptoms.

What are the symptoms and treatments from the 2019 novel coronavirus?

Symptoms range from mild – like the flu and other common respiratory infections – to severe, and can include:

  • fever
  • cough
  • difficulty in breathing

Complications from the 2019 novel coronavirus can include serious conditions, like pneumonia or kidney failure, and in some cases, death.

There are no specific treatments for coronaviruses, and there is no vaccine that protects against coronaviruses. Most people with common human coronavirus illnesses will recover on their own. You should:

  • drink plenty of fluids
  • get rest and sleep as much as possible
  • try a humidifier or a hot shower to help with a sore throat or cough

If you need immediate medical attention you should call 911 and mention your travel history and symptoms.

How to protect yourself from the 2019 novel coronavirus?

There is no vaccine available to protect against the 2019 novel coronavirus. One should follow everyday actions that can help prevent the spread of germs that cause respiratory illnesses.

Take these everyday steps to reduce exposure to the virus and protect your health:

  • Wash your hands often with soap and water
  • Sneeze and cough into your sleeve
  • Avoid touching your eyes, nose or mouth
  • Avoid contact with people who are sick
  • Stay home if you are sick

If you are traveling to an area known to have cases of coronavirus, be sure to avoid:

  • high-risk areas such as farms, live animal markets, and areas where animals may be slaughtered
  • contact with animals (alive or dead), including pigs, chickens, ducks, and wild birds
  • surfaces with animal droppings or secretions on them

What is the scientific name of Coronavirus and its sources of origin?

The scientific name of coronavirus is “2019 novel coronavirus” (2019-nCov). It is a respiratory infection that originated in Wuhan, China.

Which are the current affected areas?

Mainland China is identified as the major affected areas and the travelers who have returned from Hubei province, including Wuhan City.

Coronavirus1

Coronavirus in India

A total of 1,999 people, who have a travel history from China and other affected countries, are under observation in Kerala, of whom 75 are in isolation wards of various hospitals. The remaining 1,924 are under home quarantine and have been asked to not go out in public until the end of the 28-day incubation period.

On 14th Feb, almost two weeks after the evacuation, the government reported that all Indian evacuees from Wuhan – 645 of them have tested negative for 2019-nCoV. Over 11,500 individuals are presently under community surveillance in 34 states/union territories and contact tracing is going on. As of now, 1,632 samples from suspected patients have been tested from across the country of which three samples have tested positive; all from the state of Kerala. Interestingly, reports indicate that all three patients are medical students undergoing training in Wuhan.

The latest data indicate that about 82% of cases are mild, 18% cases are severe, of which 3% require intensive care; and that the fatalities are mostly old patients and those with pre-existing conditions. Many medical personnel is getting affected as well.

What is the Indian government doing?

A new travel advisory has been issued directing everyone to avoid traveling to China, saying planned visitors from China might apply for a fresh Indian visa. Apart from that, if anyone with a history of travel to China since January 15th, 2020, could be quarantined.

Are Indian airlines still flying to China?

All Indian airlines have suspended flights to China. Air India, IndiGo, and other Indian airlines have suspended flights to China over the coronavirus risks.

Where are the screening wards in India located for Coronavirus?

Screening wards in India city-wise:

City

Screening Wards

Delhi

Manesar Camp, Ram Manohar Lohia, AIIMS, and Safdarjung hospital.

Mumbai

Kasturba hospital and Pune’s Naidu hospital

Karnataka

Government Wenlock Hospital, Mangaluru International Airport

Manipur

5-centers have been opened in different border towns of the state and at the Imphal International Airport to screen people for coronavirus.

Mizoram

India-Myanmar border is being tested at Zokhawthar.

Updates on 2019 novel coronavirus in India

  •  The patient who first examined positive for coronavirus is now hospitalized in Thrissur Medical College and her condition is stable.
  • The 2nd case of coronavirus in the country was reported from Kerala and the patient is being monitored in an isolation ward at Alappuzha Medical College.
  • The 3rd case of coronavirus was seen in Kerala and the patient has been kept under isolation at the Kanhangad in Kasaragod district and his condition is also stable.
  • Dr. Harsh Vardhan, Union Health Minister said that the center is taking complete preventive steps regarding the coronavirus outbreak.
  • To date, India has screened 1,118 flights so far.
  • DGCA has exempted flight crews from Breath Analyser (BA) tests for 15 days at Kerala’s Calicut, Kannur, Trivandrum and Cochin airports following the novel coronavirus outbreak.
  • 3,252 people under observation in Kerala for Coronavirus.
  • Over 1.9 lakh passengers screened for Coronavirus at airports, 9,452 persons under surveillance, as per the Health Ministry.

Where did the new coronavirus (2019-nCov) come from?

As per the local people, the virus (2019-nCov) first appeared in Wuhan, China in people who had visited a local seafood and animal market (called the Huanan seafood market).

How does the coronavirus spread between people?

Centers for Disease Control and Prevention (CDC) states that human coronaviruses are most commonly spread from one infected person to another via:

  • The air (sneeze or from viral particles from a cough)
  • Close personal contact (shaking hands or touching)
  • An object or surface with viral particles on it (then the touching nose, eyes, and your mouth before washing your hands)
  • And rarely from defecation contamination.

Is the virus being spread from one person to another?

The novel coronavirus (n-CoV) can be spread from one person to another most likely by coughing or contact with respiratory issues of people infected with the virus.

 There have been a small number of cases of transmission from person to person taking place outside of mainland China.

How is the coronavirus diagnosed?

Infection with 2019-nCoV is diagnosed by detecting confirmation of the virus in respiratory samples such as fluid from the lungs or swabs from the throat. An infected person can immediately ask for the local public health unit.

Who is at risk?

People who have visited mainland China (excluding Hong Kong, Macau, or Taiwan), or who have had contact with an infected person, in the past 14 days may be at risk of catching the disease.

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Which countries are infected from Coronavirus?

Here’s the list of Coronavirus cases country-wise:

Country Name

Coronavirus Cases

Mainland China

37,232

Thailand

32

Japan

25 (+70 on a cruise ship off the coast)

Singapore

40

Hong Kong

29

South Korea

25

Taiwan

18

Australia

15

Malaysia

16

Germany

14

Vietnam

13

Macau

10

The U.S.

12

France

11

UAE

7

Canada

7

Italy

3

Russia

2

UK

3

Philippines

3

Cambodia

1

India

3

Belgium

1

Finland

1

Nepal

1

Spain

1

Srilanka

1

Sweden

1

Data source: livescience.com

What is being done globally to stop the spread of the coronavirus?

  •  The Chinese government put Wuhan and many other nearby cities on “lockdown,” meaning people are not allowed in or out of the area.
  •  The governments of both Taiwan and Hong Kong have said they would not allow in anyone from the Hubei Province (where Wuhan is located).
  •  Major airports in the U.S. are conducting screenings to try to check for symptoms of the virus.
  •  The Chinese government has banned the sale of wildlife in markets, restaurants and online.
  •  Also, U.S. citizens, permanent residents and immediate families who have visited China’s Hubei province will undergo a mandatory two-week quarantine. And “foreign nationals” who have traveled to China in the past 14 days won’t be allowed in the U.S.
  •  If Americans visited any other part of China, they will be screened at airports and asked for self-quarantine for 14 days.
  •  Australia is also barring entry to non-citizens who have recently visited China.
  •  Flights carrying passengers from China will be rerouted to one of 11 U.S. airports.

How can people protect themselves and others from Coronavirus?

According to the Centers for Disease Control and Prevention (CDC), the best way to prevent infection with 2019-nCoV is to avoid being exposed to the virus. In general, the CDC recommends the following to prevent the spread of respiratory viruses:

  • People who traveled to China and became sick with fever, difficulty in breathing or cough within the following 2-weeks should ask for medical care instantly and call first to inform the medical staff about their recent travel.
  • Avoid close contact with people who are sick
  • Stay at home when you are sick
  • Clean and sanitize frequently touched objects and surfaces.
  • Wash your hands often with soap and water for at least 20 seconds
  • If traveling to China, you should avoid contact with sick people, avoid dead or alive animals, animal markets or products that come from animals such as uncooked meat.
  • Avoid touching your nose, eyes, and mouth with unwashed hands

What scientists are doing across the US?

Scientists are trying to invent a vaccine for the new virus across the US. The National Institute of Health (NIH) is working on it, but it will take at least a few months before clinical experiments start and more than a year until a vaccine might actually be available in the market.

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What if one doesn’t have medicare or healthcare facilities?

To help the NSW response to coronavirus, people will not be charged out of pocket expenses who are not eligible for medicare and presenting to NSW Health facilities for coronavirus assessment.

Most people that are not eligible for medicare will have health or travel insurance. For those that do not have sufficient insurance coverage, NSW Health will cover these costs.

These arrangements have been put in place to ensure payment issues are not a difficulty for people from overseas with respiratory symptoms demanding immediate medical help.

Is there any specific treatment or a vaccine?

Currently, there are no specific treatments and available vaccines that protect against coronaviruses. Early diagnosis and general supportive care are necessary.

Indian coronavirus cases on Diamond Princess cruise ship

The latest coronavirus cases in India are reported from the Diamond Princess cruise ship quarantined off the coast of Yokohama in Japan. Three crew members from India have tested positive for the virus on the ship as of 15 February. A total of 138 passengers and crew members from India are reportedly on board the ship.

What arrangements are in place for checking people at airports?

The Indian Government has put in place protective measures at all international airports for passengers coming from China.

CV_03

Global Updates on 2019 novel coronavirus

  • According to the Johns Hopkins virus dashboard, approximately 42,000 individuals globally (primarily in mainland China) have been confirmed to have the new coronavirus.
  • 1,000 deaths linked to the virus.
  • More than 800 Americans have been evacuated from Wuhan on four flights.
  • Wuhan officials plan to round up those suspected of being infected into mass quarantine camps.
  • There have been two deaths, one in the Philippines and the other in Hong Kong.
  • A 60-year-old U.S. citizen in Wuhan has died after being infected with the coronavirus.
  • As per the Times report, around 3,700 people are being quarantined on the Diamond Princess cruise ship off Japan due to the coronavirus, with 70 individuals testing positive so far.
  • The 34-year-old Chinese doctor who was silenced by police for warning about the coronavirus outbreak has died after contracting that virus.
  • A phase 1 trial of a new vaccine against 2019-nCoV by Dr. Anthony Fauci, is on track to begin in 2.5 months.
  • Fauci stated that there have been “no glitches so far” in the steps to prepare the vaccine which involves initial studies in lab dishes and animals.
  • According to U.S. Secretary of State Mike Pompeo, the U.S. is ready to spend up to $100 million to support China and other countries in fighting the virus.
  • U.S. citizens, permanent residents, and immediate family who have visited China’s Hubei province will now undergo a mandatory 2-week quarantine.
  • The total number of deaths in China now at 1,367  out of 59805 confirmed cases until 13th Feb.
  • With 44 new cases, the total number of affected on quarantined Japan cruise ship now stands at 218
  • China’s capital Beijing imposes a 14-day quarantine on arrivals
  • Golf-Kuala Lumpur and Shenzhen events postponed due to coronavirus outbreak
  • WHO says joint China mission to start coronavirus investigations this weekend
  • Top Australian Universities say Chinese students could quit Australia
  • According to ministry communication, 2148 flights and 232613 passengers from China have been screened so far.
  • Outside China, the biggest group of Coronavirus infections is aboard the Diamond Princess cruise ship off Japan’s Yokohama, where an additional 99 cases were reported on Monday, making the total to 454 diagnosed.
  • China may postpone the annual parliament session over the virus

    Coronavirus Updates India

  • The Indian national in UAE affected by the virus is now stable
  • Three Indian crew members on an isolated cruise ship in Japan test positive for coronavirus
  • Indian Embassy in Japan said it is touch with authorities for their welfare and early disembarkation
  • 2 of the 3 Indians infected with the virus in Kerala test negative
  • 83 under home quarantine in Odisha
  • Indian aviation regulator adds passengers of four countries to be screened for Coronavirus
  • Coronavirus has dented Goa’s tourism prospects
  • India has screened 1,118 flights so far
  • 3252 people under observation in Kerala for Coronavirus
  • Over 1.9 lakh passengers screened for Coronavirus at airports, 9,452 persons under surveillance
  • Existing visas, including already issued eVisa, no longer valid for any foreign national traveling from China.
  • A 28-year-old man from UP’s Utraula has been kept in isolation ward. The man is a medical student in China and had returned to India 15 days ago.
  • To date, 2,455 people have been placed under the monitoring of which 2,431 are under home quarantine and 24 in assigned facilities.
  • So far, 381 samples of suspect cases have been sent to NIV for testing, of which results of 354 were negative.
  • 17 people from Delhi who returned from abroad before coronavirus screening showed symptoms, hospitalized.
  •  Embassy of India in Japan said that all 4 COVID-19 positive Indian nationals as on 17th Feb 2020 receiving medical attention onshore are reacting well to the treatment. We are in regular touch with Indians onboard Diamond Princess Ship.
  • PM Modi writes to Manu Joseph, nursing officer, Safdarjung Hospital, extending his heartiest congratulations to members of the medical team who helped in the evacuation of Indian citizens from Wuhan.
  • India to send a consignment of medical supplies to China later this week to fight coronavirus.#India #China #kerala #coronavirus #wuhan #diamondprincess #safetytips #health #who #coronavirusupdatesImage & Data source: Ontario, Livescience.com, World Health Organisation
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2022′s Top Ten Builders in Chennai

Chennai BuildersChennai is the fourth largest Metropolitan City in India. The city has many capabilities to grow, and the infrastructural developments in and around the city are increasing swiftly. To take advantage of this prospect, we have prepared a list of the best real estate builders in Chennai.

Buy your Dream Home in desired locality and budget in Chennai. Below are the names of top 10 builders’ in Chennai Real Estate Industry:

1) Casagrand Builder Private Limited is one of the top real estate developers and builders in South India committed to building aspirations and delivering value.

2) Alliance Group believes in building a legacy with a commitment to Quality and Design Excellence. The company believes in anticipating the expectations of the customer and delivering Homes that exceed them is the defining factor of the Organizations success.

3) G Square Housing : South India’s No.1 real estate developer
10+ Years of experience
1000+ Acres of land developed
6000+ Happy customers
Commitment to plot perfection by finding you the perfect plot in the perfect location, size, and price
100% clear documentation & transactions
Spread across Chennai, Bengaluru, Hyderabad, Coimbatore, Trichy, Hosur, Mysore & Ballari

4) The need for modern living has become the dream of every home buyer of urban living seeking a high-quality, affordable life. With an enormous desire to satisfy the need,  NEST Builders are intensely contributing to customer satisfaction with Key Features, Excellence, Quality, and Perfection.

5) Mayance Constructions has a strong focus on developing real estate properties with matchless concepts and catering to the high net worth portfolio of clients both in India and Overseas. The main focus of the company is to deliver a world-class luxury product like MYANS LUXURY VILLAS. The company has plans to become a strong player in the luxury real estate segment.

6) TVS Emerald projects are designed by top architects and built for the lifestyle you have dreamt of. Trust, Value and Service are the foundation of their business that comes from 111 years of serving customers with passion. TVS Emerald Housing offers top-value to customers.

7) Adityaram Group is a real estate giant in South India that has two decades of track record of customer satisfaction with the completion of privileged projects.

8) Arun Excello‘s one of the best real estate developers in Chennai. Arun Excello endeavors to continue its pursuit of excellence and raise the benchmark of Quality, Safety, and Delivery.

9) Navins Housing has driven itself tirelessly, since 1989, to achieve the culmination of architectural brilliance and the highest value-for-price in our projects. A House is made of brick, mortar & concrete whereas a home means a lot more – It has emotions, care, love, memories & cherished dreams. The understanding & reflection of this difference is what differentiates Navins Housing from others.

10) Having built top-notch homes for years that are sustainable and eco-friendly, making people’s lives superior to ever before. While creating homes with the latest trends and technologies, Isha Homes focus on consumers and their pain points, thus helping people live in a serene environment with their families. We take pride in calling ourselves the best builders in Chennai, and apparently, we are the credible real estate company in Chennai.

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Home loan Income tax Real Estate Rental Right Step Smart Residential Living Tips

Why Do We Need Rent Receipts?

House rent receipt

Rent Receipts & Its Benefits:

A rent receipt is a record of the transaction of rent paid by a tenant to his/her landlord. A rent receipt is provided by the landlord upon collecting the rent from the tenant. It can be used for legal matters or tax benefits if you are eligible.

To claim House Rent Allowance (HRA), you are asked to submit important documents like rent receipts, rent agreement to your employer before the end of the financial year. If the amount of rent exceeds Rs 1 lakh/annum, the PAN No of the landlord is also required.

Are rent receipts required for every month?

It is not mandatory to submit rent receipts every month, but one must do it on a quarterly, half-yearly or annual basis.

Rent Receipts Sample:

Rent Receipts Sample

What are the important points to note about the rent receipts?

Important points to note about the rent receipts:

The rent receipts for all the months for which you are claiming HRA is required to be submitted.

A revenue stamp is required to be affixed on rent receipts if cash payment is more than Rs. 5000/receipt. If rent is paid through cheque then revenue stamp is not needed.

If the annual rent paid exceeds Rs.1,00,000/year, it is compulsory to report PAN No of the landlord to claim HRA exemption. If the landlord refuses to give his/her PAN No, then you can’t claim HRA for the rent paid and your employer will deduct the TDS accordingly.

What is HRA?

House Rent Allowance (HRA) is a part of the salary given by an employer to his employee for his rented accommodation. HRA exemption can be claimed only if the employee is living in a rented house.

What are the necessary documents required to claim HRA?

To claim HRA, you are asked to submit important documents like rent receipts, rent agreement to your employer before the end of the financial year. If the amount of rent exceeds Rs 1 lakh/annum, the PAN No of the landlord is also required. This will help you get exemption in your form-16 and you can avoid further troubles during your Income-tax return filing.

Why rent receipts are required by a salaried person?

This will help them get exemption in their form-16 and they can avoid further difficulties during their Income-tax return filing.  In another word, a salaried person uses rent receipts to claim House Rent Allowance (HRA) benefits in total taxable salary.

Why do I need to take a rent receipt from my house owner?

It is an important document used as evidence of the transfer of rent to the house owner.

What are the necessary elements of a rent receipt?

  • Date of Payment
  • Rental Period
  • Tenant Name
  • Landlord Name
  • House Address (for which you are paying rent)
  • Signature of Landlord
  • PAN No of the Landlord (if annual rent exceeds Rs.1,00,000 in a year)
  • Revenue Stamp (if amount paid in cash more than Rs 5,000)

Is rent receipt mandatory for claiming HRA?

Yes, the rent receipt is a mandatory document to claim HRA. If an employee receives HRA in excess of Rs. 3000/month, it is necessary to present rent receipts to the employer for claiming HRA. Even if your HRA is less than Rs. 3000/month, try to keep rent receipts with you in case the officer asks for them at a later date.

Why should I need to submit rent receipts to the HR Department?

As per the Income Tax rule of India, every person who pays salary is required to deduct tax at source(TDS), deposit with the government and then pay the remaining amount to the employee. During this process, if any employee makes a tax saving investment then the person liable for deducting tax. He has to consider and give the benefit of that investment and then deduct the tax on the net amount.

Usually, it has been seen that people present fake rent receipts, even when they are not living in rented accommodation. So, to counter this, HR departments have begun asking for rent agreements for giving HRA benefits.

Is there any last date fixed for submitting rent proof to the employer?

Normally, every employer has its own last date or deadline by which all investment proofs documents must be submitted. Extra TDS will be deducted from your take-home salary if you miss the deadline. However, you can claim the extra TDS deduction directly from your income tax return.

Who can claim HRA exemption?

If you meet the following conditions, you can claim HRA tax exemption:

  1. You should be a salaried person.
  2. You must accept HRA as a part of your salary package/CTC.
  3. You should live in rented accommodation.

Can I claim both home loan deduction and HRA?

Yes, If you are a homeowner and you are paying back your home loan, you can claim HRA if you live in a rented property. You are allowed to get both the benefits to reduce your taxable income.

What are the important points to check in your Rent Agreement?

Important points to check in your rental agreement are:-

Rent agreement should be on Rs 500 stamp paper or as per the stamp rate prevailing in your state.

It can be registered for 11 months only. For more than 12 months, the rent agreement is not registered instead lease deed is to be favored which requires registration.

Every year, the rent agreement is renewed after 11 months with the revised rent.
Both landlord and tenant are required to follow the notice period as mentioned in the agreement.

How payments of rent help us in saving tax?

There can be three circumstances when you are paying rent for your rented accommodation:-

  1. When HRA is a part of your CTC & you submit the rent payment proof to your HR
  2. When HRA is a part of your CTC & you forget to submit the rent payment proof to your HR
  3. When HRA is not a part of your CTC

What to do when your landlord refuses to give his/her PAN No?

Landlord’s PAN is compulsory if the paid rent is more than Rs 1 lakh annually or Rs 8,300 monthly. If the landlord does not have PAN No, he has to give a declaration for the same.

 If the total rent paid exceeds Rs 1 lakh annually, it is necessary to quote the landlord’s PAN No to claim an exemption. However, if your landlord refuses to give his PAN No, you can’t claim HRA and finally, your employer will deduct the TDS, accordingly.

Can I pay rent to my parents and claim HRA?

Yes, you can claim the HRA exemption by paying rent to your parents. But it is always advisable to have a rent agreement. You would need rent receipts to claim HRA exemption. Also, your parents need to show rental income from you in their income tax return.

Can HRA be claimed for paying rent for 2 houses?

This could only be possible when you live in both the houses in a specific year for proportionate months.

Can you claim the HRA deduction of a non-salary component?

Section 80GG enables taxpayers to claim a deduction in case you are not in receipt of HRA but still paying rent. A deduction is allowed in the following situation:

Rent paid minus 10% of adjusted total income

25% of the adjusted total income

Rs 2,000/month

Can HRA be claimed by both wife and husband?

Yes, because both are paying rent. But it will be better if your landlord issues two separate rent receipts or defines the proportion of rent paid by each person on the rent receipt.

Can I claim both HRA and a home loan?

If you have bought a house with the help of a home loan and live in another house on rent, you can claim tax benefit for both. But if the house you bought and the house you live in is in the same city and you should have a valid reason for not living in the house that you have, to prove to Income Tax Officer. The reason could be that the house you own is too far from your workplace, or traveling is very difficult during pick hours.

Can HRA be claimed if I own a house?

No, you can’t enjoy the tax benefits of HRA if you live in your own house.

What happens when I stay in a rented home for only a few months?

Yes, you can only claim the HRA exemption for the months you paid rent for.

I am planning to change my job this year. Can I share my old rent receipts with the new company?

In case your current employer allows HRA exemption from a previous job’s income, you might have to submit your old rent receipts. It is necessary to reveal the salary from your previous employment to your current employer in Form 12B.

 Image source: Pinterest

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Affordable Housing Property tax Real Estate Smart Residential Living

I Earn ₹50,000 pm, Should I Buy A Budget Home Now?

CF_Blog_02

If you’re like most people, investing in a house is undeniably a dream. It is thus no doubt that owning a home from your hard-earned money is the most extraordinary asset that you can have. However, investing in a house is time-consuming and money consuming. Thus, buying a budget home can unquestionably do you good. Nonetheless, the most fundamental component of purchasing a budget home is to do extensive and in-depth research. Before you impulsively plan to sign on the house agreement documents, understanding your budget is quite indispensable. Buying a home based on your monthly salary, i.e., Rs.50,000 unquestionably depends on your overall fiscal health. The following are some tips that can help you understand if buying a house with your salary is the right decision for you.

 

  1. Analyze the house-hold income after eliminating the tax

In India, tax undeniably takes away a fair amount of money from our income. Thus, ensure analyzing your overall income after eliminating the tax to get a vague idea of the amount you can invest for the house. There are several calculating apps online for understanding how much money you will be left with after paying the appropriate tax.

  1. Analyze your monthly expenses.

Household, Personal loans, and bills are a few of the most vital aspects of your living. It is best advised to take out time to jot down your monthly expenses such as insurance, bills, utilities, etc. Moreover, if you’re a family man, there are several other necessities and expenses, such as tuition fees of your children and groceries for cooking. Therefore, eliminating these expenses will help you analyze your expendable income. Making use of financial tracking apps can give you the maximal benefit of making a reliable and money-conserving investment.

  1. Understand your budget

Purchasing a house under your budget of Rs 50,000 pm is possible, provided, you understand all your expenses and necessities. Make the required adjustments and cut down your unnecessary expenses so that you can increase your savings. Thus, this way, you’ll be making an economically wise decision.

  1. Analyze your debts

It is best advised to either pay off your entire debts from earlier or to minimize them to a potential extent. According to experts, getting approved for a home loan and handling your mortgage payments becomes much easier if you pay off your debts. What’s more beneficial, you ask? Well, the most appealing element about paying off your debts is that it can enhance your credit score. The credit score is unquestionably one of the determining factors of purchasing a house. Therefore, minimize your debts and other expenses to have the best chance of getting a personal loan.

  1. Do not be impulsive

We all know how exciting and overwhelming it is to buy a house. However, it is not the right step to impulsively buy a house without doing the necessary research. It is best advised to save up some money so that your deposit can be paid conveniently. Although, a deposit might seem like a hefty amount of cash, saving up and planning your income usage strategically will help enhance your chances of getting a home loan, and paying the deposit.

  1. Have a realistic plan

There is no doubt that a fancy, large, and comfortable house can have your attention in minutes. However, this does not mean that you can impulsively choose a home that will take away years and years of your life to pay back the debts. Thus, ensure choosing an affordable home. Analyze additional expenses such as the maintenance cost, homeowner association fees, tax, etc. Moreover, it is best advised to consult banks to understand if you’re eligible for a loan.

  1. Have options

Most of us make the mistake of investing in the very first home that we see. How is this disadvantageous, you ask? Well, having options will give you the benefit of analyzing if you’ll be making a wise investment. Checking similar houses can help you potentially bargain your way of making a smart and reasonable investment for yourself. Therefore, take out some time to properly analyze and search for houses.

  1. Make use of a home inspector

Hiring a home inspector is the most primary yet imperative element of understanding any potential threats that you might need to deal with in the future. Thus, make sure to hire a reliable home inspector to detect any potential damage and other issues that this house might cost you.

 

To sum up,

The journey of buying a house is unquestionably exciting and infuriating. Nonetheless, don’t rush into making such a big decision. Take your time to analyze your financial health and choose a home accordingly. CommonFloor is a leading online portal offering groundbreaking services in the real estate industry for simplifying your property decisions. They are a distinctive company offering a multitude of remarkable services for sellers, real estate professionals, and home seekers.

 

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Buying property Real Estate Smart Residential Living

To Invest or Not to Invest – Why Millennials are shying away from the Real Estate market

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One of the biggest beneficiaries of years of economic growth has been the real estate sector. The largest investment an average household or individual usually makes is buying a real estate property. Be it for buying a house to live in, or simply buying a property for its investment value, countless loans are taken annually for buying real estate. However, recent surveys have indicated that young individuals in the age group of 18 to 30 years are less likely to invest in real estate. This demographic group, which today constitutes a majority of India’s population and is highly aspirational, is by and large reluctant to take on the burden of home loans too early in their lives. The nature of this trend and its various causes are what this blog article intends to discuss.

Recent Trends:

According to Commonfloor Consumer Sentiment Survey 2020, 27% of home buyers belong to the 18 to 30 years age group, while the age groups 30-40 years and 40 and above years have relatively higher shares at 36% and 37% respectively. Although 20% is still a significant share of buyers, it mostly includes older individuals within that age bracket. Young professionals are by and large reluctant to buy real estate properties.

This 20% share is still higher than in earlier decades, according to this survey. The overall demographic trends in property buying since the 1990s can be summarized as follows:

  1. The largest share of home buyers belonged to the 45-55 years age group in the 1990s.

  2. This came down to the 35-45 years age group in the 2000s due to easier home loan rules and procedures, plus other benefits.

  3. The share of the younger age group of 25-35 years also kept increasing, until about 2015-16.

After a period of a surge, young working individuals of the 25 to 35 years age bracket have gone slow on availing home loans in recent years.

Why is this happening?

So why is the most aspirational demographic group reluctant about real estate investment? Studies have revealed various reasons, which can be explained as follows.

1.  Preference for rented housing than a purchased house:

More and more working millennials in large cities prefer to stay in rented apartments than buying their own houses. The reasons behind this are not hard to comprehend if we consider the following points.

  • The average monthly house rent in cities like Mumbai, Pune, Chennai, Hyderabad, and Bangalore is much lower than the average EMI one has to pay on availing a home loan (less than 50%, according to research).

  • The nature of jobs is such that young individuals rarely stay put in one city for more than a few years. Thus, buying a house hardly makes sense.

  • Co-living spaces, or sharing a living space with other individuals of a similar age group, is popular, as sharing of amenities like electricity, Wi-Fi, water, etc. leads to reduced cost of living.

2.  Different investment priorities:

Millennials love to invest in their life goals, but they are cautious about investing in something like real estate too early in their career. Instead, they would prefer to spend on things more fulfilling in the short term, such as trips or exploring their passions. Other forms of investment, such as mutual funds, are also becoming more prevalent.

This trend is due to millennials shifting away from traditional life goals like marrying or having children before a certain age. Owning a house at an early phase in one’s career is thus not a priority.

3.  Complex home loan procedure:

Not only the EMI burden, but even the loan process itself can be a significant deterrence for millennials. Young individuals accustomed to accessing services through apps and a few clicks are understandably left confused by the paperwork and complicated procedure of availing a home loan.

 

What are some possible solutions?

The interest of this young aspirational group in real estate investments can be kindled, provided the circumstances are conducive. In case the following developments can be ensured, the share of the younger age group among home buyers can certainly see a rise.

  1. There must be greater parity between the average rates of house rent and home loan EMI. If there is not much difference between the two, millennials may prefer to buy their own houses.

  2. Greater monetary incentives can be offered for availing home loans by young individuals, such as reduced interest rates, or tax benefits for first-time purchasers.

  3. Easing the procedure of giving loans or of buying and selling property. Much of the paperwork can be minimized if smart technology is applied.

So can the confidence of our working millennials in real estate investment be boosted? The short answer is this – yes, provided the circumstances are made favorable through incentives and simplifying of the procedures. Given how crucial the real estate sector is to economic growth, it only makes sense that the age group which constitutes our demographic dividend participates further in it.

For any help regarding properties search, listing, or management, you can consult India’s leading real estate online platform, CommonFloor. They are the most reliable real estate portal offering guidance regarding multiple aspects such as home reviews, verified listings, accurate photos, and consumer analytics. Download the CommonFloor app to get the best solutions for your residential questions.

 

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interior design trends Smart Residential Living Tips

New Home Design Hacks That Will Blow Your Mind, Not Your Wallet

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With a weekend or holidays coming up, there’s no better way to spend the leisure time than showing your old house some extra love and care to give it a brand new look. Though a bit of DIY may be overwhelming, it doesn’t have to be. With the minimum effort, these 5 DIY house hacks can help you have the most astounding results. Sounds good enough to be true? Read on for yourself and see.

  1. Switch old drawers to stylish shelves

If you want to save money and the world (at least a tiny bit), then the key to success is upcycling. If you have an old set of drawers that you will not need anymore or just don’t have the space for them, then you can put them on the wall as an artistic, makeshift shelf.

Shelves with old wood effects will be perfect, but you can produce an authentic, deteriorated look at a fraction of the price with a little paint and lotion (more on that later). Instead, charity shops can be your best friend to pick up vintage furniture that may not be suitable for their original purpose, but that is ideal for an upcycling project.

  1. Artificially distress furniture with lotion

Distressed furnishings used to be something you would never want. It’s a warning that your furniture was aged, battered, and repaired in desperate need. But as with most trends in home design, an antique is the latest, and getting distressed furniture is now very much in vogue.

You could buy an old piece of furniture from your furniture store of selection, or buy a piece of chemically distressed furniture, but there is a much cheaper and quicker way to get your furniture to have that elegant look. There is a whole range of options to convert your furniture to get that look, including using steel, wool, sandpaper, and candle wax with a variety of different paint styles used in the coating.

  1. Get creative with hidden electronic fittings

Most households will now have a few routers spread around to meet the increasing requirements of the internet that a house full of computer crazy little demons will have. Particularly if any of the kids have found Minecraft, or if you are in the habit of getting a bit crazy with shopping online on your iPad when you’re sitting down with a cup of tea.

A fake row of books combined with a wooden crate can clean up a nifty DIY router. Grab some old books that you are never going to be reading, or dive into the discount bin in the charity shop. Take 4 or 5 hardcover books, then cut out the spine pages. Take the back and the front of the two books you want to start and end your fake stack, and glue the spines and cover the front with a tiny wooden case, the kind you might see in a fresh fruit stall or garden center. If you don’t want to use a case, you can glue the spines into a bit of cardboard and just place the router behind it instead of putting it in the box. That should hold everything together.

  1. Remove carpet indentations with ice cubes

If you have a mark on your carpet created by a couch, a television set, a bed, or even just a groove worn by pacing or opening and closing a screen, this is a nice trick. Placing an ice cube on your carpet will clean out any awkward marks. Get your furniture off the path first, then simply place an ice cube on the mark if it’s a huge line-like open door mark or a seat drag.

Allow the cube to melt overnight so that the fibers are plumped up by the water. Protect the carpet with a blanket and use a fork to fluff gently any stray fibers that have remained flat. In the case of recurring dents, you may have to repeat it.

  1. Keep Rupert off the floor using Velcro

Sure, maybe he’s not named Rupert, but somewhere around the house, we all have teddies, whether they belong for little ones or they are a childhood friend you just can’t let go of. Keep them clean and off the concrete, and at the same time fix the clutter problem by securing them with a velcro stripe to the wall.

Not only does this DIY trick keep the space looking tidy, but it’s also perfect for a children’s room as a fun way for them to highlight their cuddly friends while keeping the floor clean. Even if they don’t use it, when you are vacuuming or cleaning up for a play date, you’ll have a nice place to put the teddies. You can opt for Velcro to keep off a number of other things from the floor as well.

CommonFloor.com is passionate about streamlining property decisions and provides a comprehensive online property investment ecosystem to home seekers, sellers, and real estate professionals. This ecosystem incorporates innovative ways at one stop: extensive search options for rent and purchasing property, easy to use analytics, and house and locality feedback. They provide an extensive real estate directory across all the major cities in India.

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