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4 Most Popular Forms of Home Loans in India

The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house.

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Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. Pixabay
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Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house. Borrower always wishes to get the loan at less rate of interest and at the same time the company also wishes to get the profit. Now coming to the home loan there is not only one type of one form where a borrower will get a loan to purchase a home. There are other various forms of home loan where a borrower can get a loan as per their requirements. The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. In this 21st century building a home is not everybody’s piece of cake but there is always a way for a will hence home loans provide you the way to own a house.

Many people are used to considering the home loan as a loan with the help of which we can purchase a house. But let me correct you guys who have this misunderstanding. You need to know we can get the loan for various purposes. The list below will tell you the forms of home loans

  1. Land purchase loan-

A land is used as a base to build the house. It is a property where the only land is presented and not the whole house. In this case, you are taking a loan only for a land on which you are going to build your house. Land purchase loans are given by banks or non-banking companies. It is not restricted to a person that a land should use only for building a house on it, you can also purchase is an investment.

  1. Home purchase loan-

In this form of a home loan, you can actually take a loan for purchasing a well-built house. The interest rate varies company to company for this type of home loan. Axis bank home loan provides this type of home loan.

  1. Home construction loan

This type of loan is applicable where you have your land or co-owned land and on which you are going to construct the house. The loans are given for overall construction of the house and not for the land or ready-made house. The borrower needs to predetermine the cost that will need to construct a house.

Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
Many people are used to considering the home loan as a loan with the help of which we can purchase a house. Pixabay
  1. Home extension loan

Extension basically means extend the thing which you already have. And hence increasing the area of your house is called an extension of the home. These form of the loan are provided for suck kind of extension. Most banks consider this as the home improvement loan.

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  1. Home improvement loans

Owning a home is the first step but after some years what if you want to renovate your house? For this home improvement, you have a home improvement loans at your service. This form of the home includes overall cost required to reconstruct or renovate your home

  1. Home loans for NRIs

Why only Indians??? Don’t worry if you are NRI and you want to purchase home in India. Indiabulls bank home loans makes it available for you to buy a house in India. The structure of this home loan is similar to the regular home loans but paperwork can be exhaustive.

 

 

 

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Internet Of Things Needs World Market Leaders, Interest Turns to Startups

Google and Microsoft dominate markets worldwide

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An employee displays ASUS’s new computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, Tuesday, June 5, 2018. Computex will run in Taipei from June 5 to 9. VOA
An employee displays ASUS’s new computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, Tuesday, June 5, 2018. Computex will run in Taipei from June 5 to 9. VOA

A surge in participation by startup companies this week, at a highlight of Asia’s biggest annual tech event, shows an increased reliance on young entrepreneurs and leaders to come with the IT industry’s strongest ideas for connected devices and artificial intelligence.

The InnoVEX segment of Taipei Computex 2018 brought together 388 startups, a term usually defined as founder-owned firms of three to five years old. That number is a jump from 272 at the same event a year ago. Venture capitalists, including at least one with half a billion dollars in investment funds, evaluated them one-on-one and at formal pitching events.

Startups are catching attention as inventors of Internet-of-things technology because there’s no market leader yet, said Jamie Lin, founding partner of AppWorks Ventures, a startup accelerator in Taipei. That technology refers to software and hardware that let computers or phones communicate with everyday devices such as cameras and alarm systems.

Some connections run on artificial intelligence, which means computerized processing of the data collected from those devices. That can mean making human-like decisions.

“Computers continue to morph and there are no dominant players in IoT,” Lin said. “That’s why they need startups and that’s what makes the show relevant.”

In software, by contrast, Google and Microsoft dominate markets worldwide. Apple and Samsung, among others, lead in smartphones.

Coinciding with the tech show this week, Lin’s accelerator, another like it and a Japanese venture capital firm are all holding their own events in Taipei this week for startups.

Visitors review new MSI computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018
Visitors review new MSI computer products during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018, VOA

Expanding market

More than 20 billion things will be connected to the internet by 2020, up from 8.4 billion connected last year, market research firm Gartner forecasts. The number will pick up especially as 5G wireless services speed up connections.

By next year, Gartner anticipates, startup firms working with artificial intelligence will overtake Amazon, Google, Microsoft and IBM in “driving the artificial intelligence economy” for businesses.

Artificial intelligence, also known by its abbreviation AI, will reach a market value of $1.2 trillion per year by 2020 as investment triples between now and then, Forrester Research said.

“There’s a process, which is experimental — error and trial, error and trial – so there’s no one with a ready solution, and AI is so broad that one that can do it all,” said Tracy Tsai, a Gartner research VP in Taipei.

“With AI startups, they say ‘I’m focused, I just do some part of it and I do it well, and I do it attentively,’” she said. “For companies looking for a full solution, if you can show your part works, then they use it.”

Competitors perform speed tests using dry ice to cool hardware at OC World Record Stage 2018 during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018.
Competitors perform speed tests using dry ice to cool hardware at OC World Record Stage 2018 during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018.VOA

Venture capitalists watching

Venture capital firms at the three-day InnoVEX show Wednesday watched a spread of mostly Asian startups with software and hardware ideas focused largely on connected devices. Healthcare and the management of drones were among the fields that companies said they could help with AI.

The show offered chances for startups to pitch their ideas to venture capital firms and accelerators, which are programs that show young firms how to improve their businesses.

Startup promotion authorities from 13 countries, including France and the Netherlands, also scanned the exhibition hall for Asian firms that might complement their own.

Visitors review Thermaltake's MFC 2 2nd Place MOD during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018.
Visitors review Thermaltake’s MFC 2 2nd Place MOD during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018. VOA

“What we care about the most is whether these startups or smaller firms have technology, so if it’s a just a business model only, they aren’t suitable for us,” said Amanda Liu, CEO of the Taiwan government-backed business accelerator StarFab. Her accelerator takes 10 to 15 of every 100 applicants. “They need to have products and their core competence must come from technology.”

Taiwanese firms are good at altering hardware specs, Liu said, and for technology ideal for businesses rather than individual consumers, Liu said. Taiwan positioned itself decades ago as a high-tech hardware manufacturing hub for much of the world.

Qara was one AI-dependent startup at InnoVEX. The 4-year-old South Korean developer with $1 million in venture capital funding uses an AI algorithm to predict the movement of stock and cryptocurrency markets. It has earned revenues of $1.5 million and reports a profit.

“Anyone can see the predictions powered by AI,” said Qara’s global CEO Katie Bomi Son. In terms of accuracy, she said, “Some are from 70, or between 70 to 90. Most of our information [comes] from the machine.”

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Qara counts mostly companies as clients but it’s looking for a way to monetize the free app for common users. (VOA)