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Things to Remember While Withdrawing EPF Funds for Repaying Home Loan
How to Withdraw Money From PF/EPF for Home Loan Repayment

You are most likely aware of employee EPF (i.e. Employee Provident Fund) and the EPF interest rate.  Did you know that you can withdraw EPF for repaying your home loan, and save on housing loan interest? In this article, we will walk you through important aspects pertaining to PF/EPF withdrawal for prepayment of the home loan — such as PF withdrawal limit, Provident Fund loan rules, PF withdrawal for home loan repayment procedure, and documents required for PF withdrawal for home loan repayment. Employee Provident Fund Employee Provident Fund  (EPF), as the name suggests, is a fund meant to come to your rescue when you need it most — at some point in the future. More specifically, it is meant  to be of help to you after your retirement. 12% of a person’s basic pay and DA (dearness allowance) is deducted and remitted to their EPF. Additionally, an equal amount is contributed by the employer — of which 8.33% goes towards the Employee Pension Scheme, and the rest to the EPF account. Over time, it would result in a substantial balance in the employee EPF account, at an EPF interest rate of 8.5%. So, although the employee EPF funds are meant for retirement, he/she is allowed to withdraw funds from the PF/EPF account for certain reasons as specified by the  Employees’ Provident Fund Organisation (EPFO).  Withdrawing PF/EPF for Prepayment of Home Loan  Buying a home is an ambitious project for salaried middle-class persons. It is helpful to be able to tap into your employee EPF funds to meet the costs and ease your burden. EPFO allows you to withdraw PF/EPF for buying a house or a flat, renovating an existing house, and even for prepayment of a home loan. In case you want to prepay your home loan and just get over it while saving on housing loan interest,  you can withdraw funds from the employee EPF account. Ideally, you shouldn’t, if you can help it, because you need to think of your financial security after your retirement.  However, if you have weighed in the cost and benefits, you can go ahead and utilize PF/EPF for home loan repayment.  Read on to know about the PF withdrawal limits, Provident Fund loan rules, PF withdrawal for home loan prepayment procedure  and documents required for PF withdrawal for home loan repayment. PF Withdrawal Limit  According to  Section 68BB of The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, you are allowed to withdraw PF for buying or constructing a house or flat, or PF for home loan repayment. As such, you are allowed to withdraw up to 90% of your  PF/EPF balance for repaying the home loan. There are certain eligibility criteria for being able to use provident fund home loans. Provident Fund Loan Rules  You should have at least three years of service after opening the EPF account,  to be eligible for withdrawing PF for home loan repayment.  You can withdraw up to 90% of your EPF corpus. The house in question should be in your name or jointly with your spouse.. The minimum balance in the EPF should be Rs. 20,000, either individually, or together with the spouse, if the spouse is also a member of EPFO. You can withdraw a provident fund for home loan repayment only once. You would need a letter of authorization from your employer for PF withdrawal if you have not verified your Aadhar Card. If PF/EPF withdrawal is done before 5 years of opening the account, then the amount is taxable. PF Withdrawal For Home Loan Repayment Procedure  You can withdraw PF for home loan repayment either online or offline. Follow the steps below: You would need a Universal Account Number and a phone number. Go to the EPFO portal. Log in with your UAN and password. Go to the 'Online Services' tab and then choose  'Claim'. Enter your details - name, date of birth, father's name, PAN number, Aadhaar number, date of joining the company, and mobile number. Click on  'Proceed for 'Online Claim'. Select the type of claim. Select 'PF ADVANCE (FORM 31)' from the drop-down menu. Select the reason from the drop-down menu. Enter the amount.  Enter your current address. Sign the declaration. Click on 'Get Aadhaar OTP'.  Enter the OTP. Click on 'Validate OTP and Submit Claim Form'.  The amount should reflect in your account within 5 days. Procedure for PF Withdrawal Offline Get Form 19 from the regional office,  or download it from the  EPF website. You can choose the Aadhar or non-Aadhar method. For the non-Aadhar version, attach a letter of authorization from the employer. Fill in all the fields as applicable (similar to the ones in the online portal). Get it attested by a gazetted officer,  or postmaster,  or notary public or magistrate officer. Attach an attested letter, mentioning the reason to withdraw the PF balance. Submit the withdrawal application at the regional office. You’ll get the amount within three months from the submission of the application. Documents Required for PF Withdrawal for Home Loan Repayment  Your PAN card. Either your Aadhar card (Or letter of authorization by employer). The Universal Account Number (UAN) of your PF/EPF account. Your bank account details. Your phone number. The UAN needs to be linked with Aadhar, PAN, and Bank details. Should You Withdraw PF for Home Loan Repayment?  You should be saving your PF/EPF funds for a rainy day in the future. Besides, EPF interest rates at 8.5% are higher than normal bank rates. However, it sometimes makes more fiscal sense to prepay the home loan. It is beneficial if you prepay your home loan early in the tenure when the housing loan interest component is high. Later in the tenure, it is mostly the principal amount, and at that point, it makes more sense to just continue paying the EMI. If you do withdraw PF/EPF for home loan repayment, invest the EMI saved every month in judicial ways, to secure your future. For more articles on home loans, explore the wide archive of blogs, news, and articles of Property Adviser.   

5 Best Summer Décor Ideas for 2021
5 Best Summer Décor Ideas for 2021

After a bright and blissful spring, finally, we are all set to welcome the summer season. The breezy season of florals, pastels, sweet and summery shades, and everything cool, pleasant, and intricate is finally here, and we just can't keep calm.  To welcome this season in all its charm and beauty, the best thing you can do is to begin redesigning your living space. The year 2020 has transformed our way of working, living, and managing our homes. Many of us are still confined to our homes, and remote jobs have become the new normal.  Needless to say that this is the perfect time to give a refreshing boost to our living spaces and make them appear livelier, comfortable, luxurious, and alluring. This blog will take you through some of the best home decor ideas, especially summer decor ideas that you can easily follow in your living space and for your walls.  Best Home Decor Ideas for the Living Space Our haven should be our heaven. To make it appear like the one, it’s essential to make it super comfy, cozy, warm, and a place that exudes comforting and soothing vibes. It should be a place that feels more or less like a warm embrace, a place where you can be at ease and just relax, a space that truly feels like home in every sense of the term. Get into the groove and beautify your living space with these eye-dazzling home décor ideas. In the current situation, homes are also doubling up and becoming workplaces as well. It’s crucial to revamp your living space accordingly so that it bursts with energy and vibrancy. Your home should be overflowing with comfort and coziness, especially in summers, and for that, pick an earthy palette of naturally soothing colors for your house to have more cooling and soothing effect. These ideas come in handy when it comes to recreating a lively and pleasing home décor for your abode.  Pick a color theme: Several exquisite color themes are doing the round these days that can perfectly and instantly amplify your abode into a gorgeous, instagrammable haven. Yes, Pantone is the chosen one for this year, 2021. The colors that it includes are illuminating yellow that appears to be harnessing the sun blended with ultimate ‘Grey.’ This is the perfect tone that is equally bright and soft at the same time. It’s an ethereal combination that exudes colossal charm and warmth of buttery sunshine, equal shades warming, sweet and practical, and rock solid. One can pick up one color theme of their choice and get the upholstery, walls, and interiors splashed in those shades or by combining them with other compatible shades to make a place stand out.  Beautify the corners and curves: Corners and rounded shapes have their significance when it comes to interiors. You can beautify these corners by using suitable yet stylish furniture that complements the color theme of your entire house as well. You can use corner sofas, a footstool, a round rug, etc., and place some aesthetic antiques and exquisite cushions. Placing a plush velvet Sofa in these corners adds to the décor and beauty of the whole place. Be environmentally conscious: Recent times have given us a huge lesson on how crucial it is to preserve this planet, and there is no other way but to start this from our homes. You can use more sustainable products in our home décor and use earthy tones to keep it cool and refreshing during the peak of summers. You can also include plants in the interior décor for a naturally refreshing vibe. Vintage has also gained a lot of popularity, and people are getting inclined towards vintage settings in their homes for that rustic yet earthy vibe to a place that feels like warm nature’s embrace. A perfect antique chair, colorful, vibrant cushions, antique furniture with that old school charm is ideal for making a home in your heart. Create a natural aura: The aura of a place matters, and you can create a wonderfully serene atmosphere in your house by keeping some house plants to purify the air. Make a statement, or a collection of smaller plants or slightly bigger plants kept in the balcony or living area is enough to create a nurturing aura around you. It enhances the comfort and serenity of your place.   Top Wall Decor Ideas Wall décor also plays an essential role in transforming the entire décor of a place. For beautiful homes, wall décor is vital. Here are a few tips for redoing your wall.   Go for wallpapers: Make sure to play around with attractive wallpapers and paints as per the color theme. Use pastel shades on the side walls such as blossom pink or soft blues, or mint, and put some beautiful decorative stuff to add some life to your walls. Let your walls do the talking. Use Vibrant Colors: Living room décor is incomplete without some rich, vibrant shades of summer skies and sparkling beaches. You can also recreate a similar vibe by using brilliant shades of blue as an accent wall paired up with warm, optimistic, and sunshiny yellows or beautiful hues of lovely turquoise décor pieces, linen, etc. Give that mesmerizing Grecian Vibe against the white backdrop that can truly enliven your living room décor.  Less is more: For room decors, the one trend that never goes away is minimalism. This style is about making statements with clean, precise structures, pristine designs, pops of color here and there, and a truly functional yet clean and classy design. This helps you to keep your room décor something sophisticated and not over the top. For a minimalist room décor, try white, ivory, mint, powder blue, soft gray, blossom pink, mauve, beige, peach colors to keep it elegant and summery fresh make it exude calmness, comfort, and tender touch of light, refreshing beauty. These were some of the best summer décor ideas for the year 2021 that you can try to give a nice and beautiful makeover to your place. Let there be light and drops of sunshine dancing all galore. Keep it bright yet classy without losing out on the natural vibe of your home. These ideas are sure to keep you inspired this summer, not just to beautify your living space but also to design your heaven in your haven. For more such ideas, check out our blogs.    

Best Places for Real Estate Investment in Hyderabad
Best Places for Real Estate Investment in Hyderabad

Hyderabad is one of the most happening real estate hubs in India. With the rise of the IT, pharmaceutical and finance sectors, the city has seen more and more influx of population. Hyderabad has always been a city of different cultures, people, and affordable cost of living.  As there is an influx in the people’s movement to the city, there is also a high growth in the real estate sector. Are you planning to invest in Hyderabad and searching for the best places to invest in Hyderabad in 2021? We are here to guide you with a list of the best sites. Hafeezpet: Hyderabad investments are seeing a growth graph because of the places within the IT hub's vicinity. Hafeezpet is one of the locations that is only four to five kilometres away from Hi-Tech City. This place is well connected to a different part of the city through various transport channels, making everyday travel more manageable.  Nanakramguda: Before investing in Hyderabad real estate, you have to check if the place has good networking to other locations, have schools, hospitals, banks, and other necessary sites in the neighborhood. Considering this, Nanakramguda would be one of the best places to invest in Hyderabad 2021, as it has all these options and more. Bachupally: Real estate in Hyderabad is in its prime, and it is a wise choice to make investments in Hyderabad. Speaking of which, all corners of Hyderabad are viable investment options. One of which is, Bachupally which is located in the northwestern part of the city. This location is well-known for its one of the world's most prominent centers: the Tech Mahindra Training and Developing center. Bachupally is a fast-developing suburb of Hyderabad with an increasing number of residents. Apart from these pros, the city is also well connected with Hyderabad's prime locations as well. Kondapur: Kondapur is one of the prominent and famous places in Hyderabad. This part of the city has seen tremendous growth in inhabitants, civic development, companies, and more. Kondapur is sure to take a top place when planning for Hyderabad investments.  Kukatpally: Charging point for electric vehicles, innovative parking facilities, Balanagar flyover, and many more projects are coming up in Kukatpally, making it one of the happening places in the city. Hyderabad real estate is booming because of the many changes and developments that Hyderabad Metropolitan Development Authority is designing for the public's comfort. Kukatpally is connected to different parts of the city, and now the Balanagar flyover will make hassle-free routes available. Manikonda: Congestion of traffic has always been a challenge to many commuters. This is one of the cons why investors are choosing locations that are accessible than inaccessible ones. The government has taken significant steps, ensuring that every part of the city is well-networked and there is lesser traffic crowding. Manikonda is one of the prime areas for IT professionals, and there is a huge demand for real estate. With a good number of constructions, link roads to ORR, Hi-tech city, Madhapur, Gachibowli, and other prime locations of Hyderabad, Manikonda is considered as an excellent place to choose while planning for investments in Hyderabad.  Gachibowli: Luxury villas, apartments, and many other investment options are available in the Hyderabad real estate, and these housing options are abundant in the Gachibowli locality. This locality is perfect for IT professionals and other individuals alike. With many commuting options, recreation facilities, necessities, and much more easily accessible, Gachibowli is one of the favorites of individuals keen on Hyderabad investments. Miyapur: Another hotspot in Hyderabad real estate is Miyapur. This locality hosts many advantages making it one of the best places to invest in Hyderabad. Miyapur comprises well-reputed educational institutions, shopping malls, hospitals, better road and rail connectivity, and other pros, making it one of the most preferred locations to invest in Hyderabad real estate. Conclusion: Above mentioned is the list of locations in different parts of the city. There are many more upcoming areas that are extensively in high demand in Hyderabad investments and soon would join the best places to invest in Hyderabad.

Government Extends Deadline for CLSS Benefits to Middle Income Families
Government Extends Deadline for CLSS Benefits to Middle Income Families

With the deadline for CLSS (Credit Linked Subsidy System) having expired on March 31, 2021, the Indian government has decided to expand the benefits for MIG categories.   Earlier in May 2020, the Finance Minister had announced that the deadline for affordable housing loan schemes for medium-income families would be extended until March 2021.  Govt Extends Affordable Housing Scheme  The government is most likely to consider extending the benefits of the CLSS, said Amrit Abhijat, Joint Secretary and Mission Director, Ministry of Housing and Urban Affairs (MoHUA). The request was made based on an assessment of the banking   During the COVID-19 pandemic, more than 10.75 lakh houses were built under the Pradhan Mantri Awas Yojana (Urban), and with more than 2.55 lakh in Uttar Pradesh alone.  The implementation of PMAY (U) will be in its sixth year. Till date, the department has approved 111 lakh houses, of which 73 lakh houses have been constructed and more than 43 lakh houses have been issued, in response to an estimated demand of 112 lakh house demand.  By the year 2022, when the nation celebrates its 75th Independence, the Ministry of Housing and Urban Affairs aims to provide 'pucca houses' to all eligible Indian beneficiaries.   The focus is on speeding up the construction, completion and supply of houses in the country within a specified time period under PMAY(U). By: Shailaja K

Government Set to Take Strict Measures Against Illegal Plots in Telangana
Government Set to Take Strict Measures Against Illegal Plots in Telangana

The Telangana State Real Estate Regulatory Authority (TS-RERA) has decided to take serious action against illegal land schemes and has introduced strict measures against developers who are illegally selling undivided shares (UDS) of land in real estate projects.  Such sales would result in severe fines — up to 10% of the total project cost.  Certain developers/builders/promoters have been noticed to be advertising/marketing/selling units in un-divided lands in projects?at nominal or discounted prices.   This is not in accordance with the provisions laid down in Section 3 (1) and 4 (1) of the Real Estate (Regulation and Development) Act, 2016 and Rule 1 (2) of the Telangana State Real Estate (Regulation & Development) Rules, 2017.   As per the circular by Somesh Kumar, Chairman of TS-RERA, selling the UDS lands, with no prior project registration with the TS-RERA, will entice penalties of up to 10% of the total project costs, in line with Section 59 of the RERA Act 2016.  Government Takes a Serious Note of Illegal Land Schemes  Earlier this year, the issue of mushrooming UDS projects was observed after industry insiders described it as "Ponzi schemes" which were flown to cheat buyers. Under this scheme, a small portion of land – such as 100 square yards of a 10 acre property is sold to the customer for an upfront payment ranging from Rs 30 lakh to Rs 50 lakh (on an average). Once the entire parcel of land has been developed, the buyer will be promised a built house or apartment against this kind of purchase.  Although these projects must be cleared up by the authorities concerned in accordance with the various sections of the RERA Act, market observers say that the majority of the projects are not permitted.  In addition to advising builders of such default, recently a new circular also provided by RERA chairman cautioning the public against the purchase of such buildings or plot units because the risks of such developers or promoters are very high.  Real Estate Sector Welcomes Move  The guidelines were welcomed by experts of Hyderabad real estate sector, which said that the safeguarding of the image of the "Hyderabad Brand" would require strict measures. It will not only help genuine developers and the whole industry, but will also protect buyers against duplication. It is highly appropriate that the government should heavily against offenders, said Credai-Hyderabad, president, P. Ramakrishna Rao. By:Shailaja K

 Risinia Oyster — Adding Value to Life
Risinia Oyster — Adding Value to Life

Luxury lies in the details. For a gated community project, builders must provide residents with not only state-of-the-art facilities but also amenities that add value and sustainability to the world.      Risinia Oyster — a fully gated 2-3BHK apartment project in Nizampet Hyderabad — provides just that. The property comes with an array of external amenities that can rival the best residential accommodations anywhere in the country. Landscaped gardens with walking tracks, 24x7 security with CCTV surveillance, and sporting facilities, such as badminton court and cricket practicing areas are provided alongside internal facilities like a fully equipped gym and swimming pool.    Property Details:   The property is spread over two acres of verdant green space and comes with 150 flats across four blocks of low-rise apartments. The flats are available in multiple sizes, ranging between 2BHKs and 3BHKs with areas between 1,122 and 1,558 square feet. The property boasts world-class specifications that give you complete peace of mind — from earthquake-proof RCC-Framed structure to PVC-insulated electrical wiring and solar power fencing, just to name a few.    Location:    While everything in the world comes at an astronomical price, thankfully quality 2-3BHK apartments for sale in Hyderabad do not have to cost the earth. At a starting price of only Rs 58.3 lakhs, this property can be yours. The project comes with the assurance of quality and timely delivery — both of which are granted by the developer, Risinia Builders, which has consistently set a benchmark in offering quality projects in Hyderabad.   As a location, Nizampet, in the northeast of Hyderabad has seen exponential growth in property prices. The reasons are not hard to guess. From educational institutions like Narayana Concept School and Oakridge International School to hospitals like Holistic Hospital and Rainbow Children’s Hospital — the location offers proximity to a host of institutions of daily needs along with easy access to both the city centre as well as the ORR.   Project Highlights:   Fully gated community  Proximity to best schools and hospitals  2-3BHK apartments  Rs 5,200 per sq.ft.  Occupancy: December 2022 2 acres of land area  24x7 security  environment-friendly features  Sporting facilities  Clubhouse  By: Ratnabir

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