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Insurance Chronicle Magazine:
Defending Your Title with Title Insurance
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Housing activity in India is growing at geometrical proportions, thanks to the various sops offered by the government. A very crucial step in the process of purchasing a house is the title scrutiny or search. The real estate arena is risky and fraught with litigation. Taking title insurance cover becomes extremely important. The time is ripe to introduce title insurance in India.

 
 
 

Home is a sanctuary. It is the proverbial Englishman's castle, which protected him from all cares of the world. Corbusier called a home a machine to live in. It is a dwelling place, a material structure of brick and cement. To own a house is a dream for anyone and the motive could be anythingsentimental value, shelter for old age, an investment or simply a business proposition when it comes to builders and developers. Most of the young people today associate buying a house as an investment proposition.

Thanks to liberal offering of loans by banks and housing finance companies the average age of owning a house, which was at one time around 40 plus stands reduced to 30 years today. The Government of India too is offering more and more sops to encourage housing activity, which has prompted the youth in their 20s to go for buying a house.

An investment in house purchase by taking a loan offers endless Return on Investment (RoI) possibilities. It is a triple whammy because you have three advantages viz., the property that appreciates, tax benefits, and the use of other people's money. One of the most lucrative businesses in the world it is said is buying land by the acre and selling it by the lot. For many, a house is a once-in-a-life time purchase.

 
 
 

Insurance Chronicle Magazine, Title Insurance, Geometrical Proportions, Government of India, GoI, Gross Domestic Product, GDP, NPA, Non-Performing Asset, Foreign Companies, Government Regulations, Title Insurance Schemes, Government Regulations.