BANGALORE- A Portrait

AREA : 356.6 Square Kilometers
ALTITUDE: 3000 ft. above sea level
GEOGRAPHICAL LOCATION: Latitudinal Parallels     : 12 degree 8’ N
                                                 Longitudinal Meridians      : 77 degree 37’ E
CLIMATE:
March to May ( Warmest)
December to January (Coolest)
June to September (Rainy-South-West-Monsoons)
November to December ( Rainy-North-East-Monsoons)
TEMPERATURE : MAX of 33 degree C to MIN of 14 degree C
POPULATION   : Approximately 8 Million ( 1.3 Million Floating )
•   Attracts Global corporations with its State-of-the-art facilities & world class infrastructure.
•   iT capital of India (corporate hub for $ 98 b IT industry).
•   Over 100 Multinationals like HSBC, DELL ,Microsoft, Hewlett Packard and several Indian
•   Multinational firms like Infosys Technologies, Wipro, Microland, etc, are climbing the corporate
•  Pinnacle in Bangalore.
   Sleek Infrastructure, Large floor space, formalised communication facilities and Human
   resource cobweb are the most prominent Traits of Bangalore.


A BOOST TO THE SOCIETAL & ECONOMIC GROWTH TO THE STATE

Bangalore is rated as one of the fastest growing, top technology-hub cities in the world. With availability of skilled manpower, backed by internationally reputed institutions, housing over 250 leading Hi-Tech companies and over 58% of the total exports of the country from Bangalore, makes it the most preferred city for the Knowledge-Based industry to plunge in for their base. Infrastructure projects are being implemented and it is high time to have unique world class projects such as EMBASSY HORIZON, to be developed by ‘Sapphire Infrastructure Development Private Limited”, in order to facilitate exact needs of the specified industry.

EMBASSY HORIZON, a project envisaged by SAPPHIRE INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED., is planned in a manner to make the knowledge based industry and their manpower to carry out multi purpose activities at one place with ease. The project ensures increase in direct and indirect employment, increase in export revenue, besides decongesting the existing CBD area. Access to both the existing and the proposed new international airport, would leverage the efficiency, create operational economies and enhance wealth of the IT firms, thus making the IT professional to perform at their peak

Home loans

What are home loans?

These are loans you have access to, depending on whether you want to buy or build a house and can also be used to repair or extend an existing house.

Who can avail of these loans?

According to lending institutions, any Indian resident who is over 21 years of age at the beginning of the  loan and below 65 at its maturity can avail of the loan. Salaried Employees as well as Self-Employed citizens can apply. NRI Salaried and NRI Self-Employed, under RBI guidelines, can approach only nationalized banks and other HFCs for loans.

Why should you opt for a loan to buy a house?

Taking a loan seems like a good option when the money at hand is insufficient to buy the house of your dreams.Consider couples in their twenties and thirties. They enjoy a good income currently, but their accumulated capital isn't enough to purchase a house. Whereas a home loan can give them access to capital
against their current earnings.
Also, if you take a 10-year-old loan when you are thirty, you could repay it by the time you're forty. So you don't have to be burdened with the interest and are free to plan your retirement savings.

What is the quantum of loan that you can avail of?

Loan sanctions depend on your repayment capacity - which is based on >your current income and your  future repayment capacity. You could include your spouse's income to enhance the loan amount. The maximum loan that can be sanctioned varies with each bank/institution and ranges from Rs.10 lakhs to      Rs.1 crore.

But is it feasible to take such a big loan?

A home loan is very different from a personal loan like a car loan for instance. You utilize a home loan for financing an asset that will hold its value and even appreciate over the period of the loan. Though its price could fluctuate in the short term, Real Estate will show capital appreciation over the years.

How does that benefit me?

The value of your house generally appreciates while the loan remains constant. If you had opted to wait,  save up and buy a house, it would, in the long run cost you much more. Home loans also come with many     tax benefits.