Tuesday, July 26, 2016

Bengaluru, the top performing city in the real estate market

If you are looking to acquire a new home in Bengaluru, then you are at right place at the right time. Post the drop in the overall real estate market; Bengaluru sturdily held its number one position in India in the first six months of 2016. This course is expected to go on for the rest half of the year with the new launches likely to rise by 4 percent in comparison to the last six months of 2015.

The Knight Frank's "Indian Real Estate Residential and office" for the period of January-June 2016 stated, Bengaluru's residential territory witnessed 13 percent boost in new launches and 18 percent boost in sales on a year by year (YoY) basis in comparison to the first half in 2015. Although, the major parts of the country's realty market were quiet in all segments, Bengaluru's prime locations such as Richomond Road, Lavelle Road, Malleshwaram, Bannerghatta, Hebbal, Whitefield, Electronic City, Marathahalli and Indiranagar witnessed a considerable rise of 23 percent in new launches in the first six months of the year 2016. It is advisable to invest in apartments in Bannerghatta road and apartments in Richomond Road. The investors’ interest in quality properties has seen a swell in the first half of 2016 in comparison to the first six months of 2015 that witnessed poor sales.

“However, due to the slackening of the premium housing markets in the past year, the weighted average price growth YOY in the premium segment saw a marginal decline of 1 percent in first half of 2016, as compared to first half of 2015,” the report said.

When it comes to pricing, the prime residential segment in Bengaluru has seen a gradual hike in its average price in the past one year in comparison to the price hike in the overall city that stood at 3 percent. The prime housing saw a decline of 1 percent.

The realty sector experts foresee the overall weighted average price in Bengaluru to have a slow growth of 3 percent in the last six months of the year 2016 in comparison to the second half of 2015, accounting to the quantity of reserve that requires to be offloaded.

Despite the slump in the realty sector, the residential real estate sector in other cities are going to see a ray of hope due to the recent development of policies such as REIT, land acquisition, real estate regulator, and smart cities. All these measures play a vital role in encouraging the key players to invest in new projects.

The real estate market is ripe especially for NRI investors due to the depreciating value of the Indian rupee in the past few years. Other favorable factors include the stable political reign of Prime Minister Narendra Modi, the easy availability of loans, and the growing economy.

Also, as the urban population of the nation rises, there is going to be more and more demand of residential as well as commercial properties that will give a great boost to the overall realty sector.

This is a guest post by Deepak Yewle

Wednesday, July 20, 2016

16 Super Uber Tips on Finding the Perfect Flatmate

It’s probably one of the most serious problems dogging the 21st century working professionals in the country. In fact, it’s pretty much like finding a new boyfriend/girlfriend, only a little more complicated.

Why is that? Well, because you can part your ways with your partner when things go awry, but it’s not as simple with a flatmate. Since you will have signed a lease agreement, you will need to stick with them till the contract runs out.



In this article we give you with some of the best tips in order for you to come out victorious in your quest for finding the best flatmate.
  • 1.    Go Beyond Your Friends List
Just because you enjoy hanging out with a friend or an acquaintance, doesn’t mean they can actually be a good flatmate. For all you known, they might have the world’s worst in-room habits that could drive you over the edge. So, go beyond the first impression and actually find out what a person is like.
  • 2.    Look Online
Finding a flatmate on the internet has become extremely simple. You will just need to post in one of the many Facebook groups and can find one within a few hours.
  • 3.    Interview Them
No, we don’t expect you to go full John McClane on them, you will just need to ask them what they are looking for and what they are comfortable with.
  • 4.    Find Someone Like-minded
Find someone that has a same a similar perspective of the world as you. Are they metalheads? Do they love Megadeth and Motorhead? Or are they more into pop music? Knowing these things is absolutely essential if you want to live in harmony.
  • 5.    Are They Ready to Contribute?
In the ready/not-so-ready to mingle world, you will need to know if your flatmate is ready to do the household chores same as you. This is extremely important because chores are often the first things that could lead to a rift in your relationship.
  • 6.    Understand What It’s Like to Have a Flatmate
No matter how platonic a relationship, getting a flatmate is still a major responsibility that needs to be taken seriously.
  • 7.    Do Good unto Others
Find and find out if they are ready to help you out in case of emergencies.
  • 8.    Have The Right Apartment
The kind of apartment you have chosen also plays a role in the type of flatmate you will find. To find the perfect place, check some of the property management firms like Zenify, who curate some of the best rental property in Bangalore.
  • 9.    “What Do You Expect from Me?”
Having a flatmate is a two-way street. If you want them to be a certain way, you will need to be the same too. So, ask them what they expect out of a flatmate.
  • 10.    Someone in The Same Profession
While this isn’t customary, it can do you a world of good because at the end of a busy, tiring day, you will need someone you can talk to, who can actually understand what your problems are.
  • 11.    Meetup
Once you have found a potential roommate, fix a meet and talk to them over a cup of coffee or a drink just to get a feel of what they are like.
  • 12.    Talk Money
One of the most important aspects required to lease flats is money. So, bring the money topic up with them and discuss whether they are comfortable with the money they are paying.
  • 13.    Assess Their Lifestyle
Imagine a runway model living with a desi sanskaari person—it’s not always the best combination. This is why you need to assess their lifestyle and find out if it is in line with yours.
  • 14.    Communicate
Communication is important aspect in a flatmate relationship. Figure out how open they are in voicing out their concerns.
  • 15.    Find References
Sometimes a friend of a friend of a friend will know someone that’s looking for a flatmate. Try and find a good reference, one that actually trust.
  • 16.    Get It in Writing
You might have talked about a million things, but unless you get them written in a lease agreement none of them ever really matter.

All in all, getting a flatmate is quite like every other relationship you have had in your life. At the end of the contract, you might even walk out with a life-long friend by your side. So, be very mindful before you choose one.


This is a guest post by Chandni Lal

Monday, July 4, 2016

Decoding Hinjawadi – The Locality that's Revolutionized Western Pune

Pune is such a laid-back city, it's easy to it call home. Located on the Deccan Plateau and 560 meters above sea level, it enjoys impeccable weather all through the year. However, it's not just the temperature that makes Pune cool, but also the people and its blend of traditional values and modernity. The infusion of these two elements brews a vivid cosmopolitan attitude that defines this city.

In 2001, India's first six lane high-speed Expressway was built, connecting Pune with its larger & more famous cousin, Mumbai. One could say it was the beginning of a revolution, one that influenced the transformation of Pune from an education city to a bustling IT hub.

The western side of Pune is exceptionally beautiful and surrounded by hills and lush greenery. Owing to its proximity to the Expressway, this area enjoys better connectivity that catalyzed an explosion of urbanization. The western suburbs began to garner the attention of builders that were eager to cater to the needs of professionals working at the busy IT parks in Aundh, Hinjawadi and Nagar Road.

Despite the rapid urbanization that Pune has witnessed in the last decade, the area of Hinjawadi still retains its tranquility and solitude. Thanks to the Special Township Policy Act of the Maharashtra Government, the suburb has a modern infrastructure with a deluge of luxury gated communities. These integrated townships encourage residents to work closer to where they live, with more convenience and a better way of life. The gated townships of Hinjawadi ensure that the suburb still retains its calm demeanor and open spaces, while adding impressive buildings and towers to the skyline.

In the coming years, Hinjawadi is set to become even more popular. The area will soon be incorporated with a proposed metro line that will ease travel through the city to a great extent. The area is also favored to experience steady price appreciation, which makes it an enticing investment opportunity for home buyers.

Life Republic, a popular township located in the neighborhood, is easily one of Pune's most vibrant townships. It presents a life of glamour and convenience set amidst a 400 acre sprawling community. The modern township has one objective, which of being a delectable and vibrant address in Hinjawadi. Featuring the best of amenities, the project is a haven for lively spacious homes with a contemporary attitude and aesthetic.

The layout of Life Republic begins with a wide boulevard that traverses through the mega-township. The project is also packed with premium lifestyle and entertainment options like fine dining restaurants, a multiplex, high-street stores, a mall, clubs, wedding and party venues, community centers and academies, lake-front recreation and much more.

Apartment towers are surrounded with ample green cover, and the project features artistic installations with an abundance of green open spaces. Life Republic also encompasses organic farming, an agro institute and fresh vegetable market. The plenitude of green cover here creates a pollution-free and pleasant environment.

At Life Republic, you experience a lifestyle that's unique to your preference but tailored to create an urban habitat where everyone’s needs are answered.

Townships like Life Republic are bringing a new premium lifestyle to Hinjawadi. It's this transformation that is shaping the future of real estate in Pune and in India.

This is a guest post by Gaurav Mishra

Saturday, June 25, 2016

Commercial office market shines in real estate sector

Although the residential market continues to dip, stable lease rentals, high absorption levels, worldwide investor’s interest and insufficient supply have paved the way for commercial real estate market.

Unlike the disintegrated residential sector, a few distinguished developers, with the support of investors, are building quality office spaces in the central cities.

The chief operating officer of JLL India said, “While demand for good quality office space remains high, absorption will be lower this year because there isn’t adequate supply in the market. Also, demand is high but relevant supply, which depends on location and other advantages, is restricted. We expect the sector to continue to do well.”

As per the property advisory CBRE, Bengaluru is riding high on the demand and the supply of office space and the vacancy level of its office buildings is the lowest. In Pune region, the scarcity of good supply has led to many people showing interest in Grade B buildings as well. One of the worst hit areas was the National Capital Region, grabbing only 37% of the 5 million sq. ft of office space or leasing.

Post the economic dip in 2008, many builders ceased to invest in capital-intensive projects and started showing interest in the residential market. The next few years saw many large apartment projects, resulting in a glut. The market, therefore, experienced a slowdown in the year 2012-2013.

The leading developers in building office projects are RMZ Corp, Embassy Group, Panchshil Realty and DLF Ltd. Most of these names have the support of global investors. Over 80% of the commercial office spaces are occupied by information technology (IT) and IT-enabled services (ITES) clients, the left ones are for the e-commerce firms and banking and financial services.

Panchshil Realty, backed by Blackstone group has added 5 million sq.ft of a new area in Pune for three projects. The Panchshil Reality Chairman Atul Chordia said, “We lease around 1.5 million sq. ft. office space every year, so we just have to keep building because the demand is high.”

DLF doesn’t have any residential launch this year, but the largest developer of India as per the market value plans to cover two-three million sq.ft office area in its lease/rental portfolio. The real estate giant seeks to repeat its success in developing a nearly 30 million sq. ft commercial portfolio over the past decade.

DLF has begun to work on a 2 million sq. ft office project in Gurgaon this year and is also going to cover 1 million sq.ft of the IT Park in Chennai. Chennai is seeing an investment from DLF in the commercial market, and increased investment in apartments in Chennai OMR by the House of Hiranandani.

K. Raheja Corp group based in Mumbai is also planning to spend about INR 2000 crore in purchasing land and building 6 million sq. ft of office space in the area of Navi Mumbai.

Vinod Rohira, the MD, and chief executive of commercial real estate and REIT, K Raheja Corp said,“ Growth and consolidation, particularly in the IT and ITES sectors, are driving the demand for big commercial office spaces. Demand for commercial real estate is growing at 20-22% on a year-on-year basis,”

The year 2016 is likely to observe two massive private equity investments in the commercial sector. While DLF is in the course of selling a 40% stake in its lease assets arm to get about $2 Billion, another $1 Billion investment is being invested by Brookfield Asset Management Inc. to purchase the office and reality assets of Hiranandani Developers in suburban Mumbai.

Like the developers switched focus to the residential market post the financial crisis of 2008, the commercial office projects are gaining popularity now. Some developers are rearranging their portfolios to build more office spaces.

Bijay Agarwal, MD of Salarpuria Sattva Group said, “While entry barriers are low in residential and there are too many developers, office development is not easy and as a result, we have a few serious developers building good projects,”

This is a guest post by Deepak Yewle

Tuesday, June 7, 2016

The 5 Craziest Haunted House Stories of All Time in India

Bam! A thunderstorm roars with scary intensity, seemingly taking the electricity with it.

Backup generators stop functioning and the temperature in the room seems to drop by 10 degrees, making it unnaturally cold. You know you are all alone in your apartment. But you get the sneaky feeling that you aren’t.




Sounds like the clichéd (and poorly written) horror movie plot, right?

Wrong!

These are some of the stories from people that have lived in or around some of the haunted houses in India.

But where are these houses, you ask? Here are the tales of some of the craziest haunted house stories the internet has heard of so far.

  • The Vrindavan Society - Thane
Constructed by Raheja Developers, The Vrindavan Society is a luxury apartment complex with over 100+ apartments in the Thane region of Maharashtra. To this day, all the houses here are occupied (thanks to those irresistible ‘flats for rent’ placards). However, people here live in constant fear and are even worried to step out of their homes after dark.

Curious to know why? It was reported that a man living in this complex committed suicide. Ever since that fateful day, residents and night watchmen claim to have witnessed some paranormal activity almost every day of the week.

In fact, one of the night guards has a strange incident to narrate: during one of his late-shifts, while he was nodding off in his chair, a tight slap jolted him back from his sleep, almost toppling him off his chair. He summoned a few of his colleagues to check if an intruder had entered the premises.

However, after searches proved futile, residents concluded that this was the handiwork of the unnamed man that died within these quarters.

  • House No. W-3, Greater Kailash, Delhi
As the legend goes, two elderly couples used to live in this rental property. Unexpected events saw them being murdered in cold blood by unknown assailants. But even after their death, the couples’ spirits have supposedly lived on in this place.

Passersby and other locals have complained that they’ve often heard muffled laughter, strange voices, and soft whispers coming out of the house; this has left the witnesses baffled and very, very scared.

  • D’Souza Chawl, Mahim, Mumbai
Among the many haunted places in Mumbai, D’Souza Chawl takes the cake, and has even been reported several times in the media. According to local lore, the spirit of a deceased lady roams the corridors of D’Souza Chawl at odd hours of the night.

Supposedly, the lady fell in the only fresh-water well in the vicinity and succumbed to death and hasn’t found the peace she was looking for.

  • Grand Paradi Towers, Mumbai
Located in one of the poshest areas in Mumbai, this complex has sadly played witness to over twenty suicides over the last decade. These unnerving stories begun with the suicide of a couple, followed by the jumping of their children and grandfather a year after that.

Ever since then, there have also been reports of maids and children falling to their deaths on multiple occasions. Just what the reasons behind this are, we don’t know.

  • GP Block, Meerut
A lot of haunted places are abandoned, and GP Block in Meerut is no exception. This place has been so unnerving that people have supposedly even stopped passing by the building. According to reports, several of the locals have witnessed the sightings of ghosts: 4 drinking men illuminated by the presence of a single candle.

Initially, the story was discarded but upon further prodding by some youngsters, it has become apparent that the 4 men were in fact spirits and not a group of friends. There have also been tales of a woman in a red sari who accompanies these men and walks around in the dark.

So, next time when you are looking to lease flats be sure to do a recon and verify that the building doesn’t have an eerie, dark paranormal story behind it. Better yet, pick one of the convenient property management services, or log on to zenify.com to find the house of your choice.


  • References:
http://www.holidify.com/blog/most-haunted-places-in-india-asi-list/
  • Image References:
https://pixabay.com/static/uploads/photo/2013/10/24/01/45/haunted-house-corner-200065_960_720.jpg



This is a guest post by Chandni.

Tuesday, May 31, 2016

Unitech Project Delays in Gurgaon

Project delays in Gurgaon. Many buyers are left in lurch. Home buyers had invested their hard earned money in some of the Unitech Projects; however, project delays have taken its toll on these buyers. Many are paying EMIs as well as monthly rents. What is the solution?


Tuesday, May 24, 2016

Revival of the residential real estate market this year

From the past few years, India’s residential real estate market has experienced a slowdown. Thanks to the macroeconomic indicator and measures taken by the Indian government to bring transparency, this sector is all set to rebound.

It is believed that apartments in Whitefield (Bengaluru), apartments in OMR (Chennai), and apartments in Kondwa (Pune) are great for investment, at the moment.

Ashwinder Raj Singh, the CEO, residential services, JLL India, said,“India’s residential property market has been going through turbulent times for past few years. However, things are looking up now with changes in the economy and various initiatives announced by the government.”

Factors like low demand, high inventory levels, and limited fund flow has dwindled sales in the sector, affecting the new establishments.

As per a recent report by JLL, the novel residential venture launches witnessed a reduction by 6 percent in the first quarter of 2016 over the last quarter of 2015.

Overall sales of residential properties declined in the financial year 2015-16 compared to 2014-15. As per recent reports, 1,58,211 units were sold in the financial year 2015-16 as opposed to 1,61,875 units sold in the financial year 2014-15, which is a decline of 2.2 percent.

A ray of optimism was seen in the otherwise hopeless situation with the rise of sales in the first quarter of 2016.

Specialists believe that the implementation of the Real Estate Act will give a positive drive to the feeble sector by reviving the spirits of the buyers through manifold initiatives.
One of the best initiatives taken is that the aggrieved party has the right to claim the amount at the prescribed rate along with the interest if the possession is not given.

Shveta Jain, the managing director, residential services, Cushman & Wakefield said, “The Real Estate Regulation and Development Act 2016 will encourage investments from foreign and domestic financial institutions and protecting the interest of the home buyers. Mandatory disclosure of projects, including details of the promoter, project, land status, clearances, approvals, etc. would increase the credibility of developers and would protect consumer rights as well.”

Ashwinder Raj Singh of JLL states 5 points for the road ahead for the realty sector:

  • The expectation of good monsoon, recovery in the economy, decreased inflation, and the fact that the rates of residential properties are on a hike again has brought a shift in the trend. Also, the combination of an improved regulatory environment of the realty sector and progressive Government schemes like AMRUT, Housing for all by 2022 and Smart Cities are starting to create a positive influence. Moreover, factoring in banks’ passing on of interest rate cut advantages to the end user; the residential department is on the path of regrowth. 

  • At the end of the financial year 2015-16, the rates were stagnant or at a modest rise. While Lucknow witnessed a hike of 16.1% in the prices in third quarter 2015, NCR witnessed a price ascent of 5% during the second quarter of 2015. Moving forward, rates are expected to rise moderately.

  • The establishment of the Real Estate Regulatory Authority to ensure timely delivery of the real estate projects and bring more transparency in the dealings with builders has build trust in the market, motivating the buyers to invest again. A credible start has been indicated by the affordable housing segment, with this division seeing heightened traction on the outskirts of the leading cities. Of the entire sales, more than half the properties were marked below Rs. 5000/sq ft in the financial year 2015-16.

  • International factors have an effect, but India’s present low-interest rates and low inflation rates along with moving economy will encourage development in the residential realty sector in the mid-to-long term.

  • The encouragement that the latest Union Budget is providing to both, the demand as well as supply side has improved the funding for the real estate industry. It has also helped in clearing problems on REITs. More impressive signs of recovery should be evident during the last quarter of the year 2016 or by the first quarter of 2017.

This is a guest post by Deepak Yewle

Tuesday, May 10, 2016

Stamp Duty Refund Process

So things haven’t been as perfect as you would have expected with your registration procedure and to make things worse you have already paid stamp duty to the state. Since you are right now on this page, I will make a wild guess and deduce that you wish to have your stamp duty refunded. Good for you, however, there’s a slight problem, the first thing you need to realize is that your money has already been received by the state government and the second thing is that to get it back from them wouldn’t be any less of a mean feat. So how can you go about it?


The whole of the stamp duty refund procedure could be described into two general steps:

  1. Step 1: Filing a stamp duty refund application.
  2. Step 2: Dedicated follow up.

  • Step 1. Stamp duty refund application (Maharashtra)

To file a stamp duty refund application you have to complete an online procedure and an offline procedure.

Online procedure: To complete the online procedure you could go to state government’s Department of Registration and Stamps website. Complete the form and download or print a copy of completed form.

Offline procedure: To complete the offline procedure for stamp duty refund you will need to download various forms from IGR Maharashtra’s official website like;
  • Application form
  • Jabab
  • Checklist
  • Receipt for the Value of stamps (Two Copies)
  • Affidavit
  • Pratidnyapatra

Besides the aforementioned list you will further need some other documents, they are as following:
  • Photocopy of I.D. (Preferably Pan Card)
  • Original Gras Challan/Simple receipt Challan or ESBTR certificate
  • A draft of the Agreement which you couldn’t register or Cancelled Agreement
  • A cancelled cheque of the account where you wish to receive the refunded stamp duty and registration fee amount

Attach all the downloaded forms and rest of the documents together. Create two more photocopies of all the completed forms and attached documents. One photocopy will be attached with the file you are about to submit, the other photocopy will be served as your acknowledgement.

  • Step 2: Dedicated follow up.

Filing of the stamp duty application is just the beginning and you will need to maintain consistent and dedicated follow-up of the concerned government office. Make sure that no additional requirements are asked of you by the concerned office. Usually there is a deduction of Rs. 1000/- (max) only out of your stamp duty and registration fees and the rest is refunded to you. Sometimes the application is rejected.

Those of you who intend to file stamp duty refund application personally, you could check if you are eligible for refund from here: Are you eligible for stamp duty refund?

I hope that you have been informed about the basics properly and sincerely wish that you do get your Stamp duty & Registration fees amount back.

Was this article useful to you? If you have any queries regarding stamp duty refund procedure, please feel free to contact Sarvesh R by posting comments here.

Monday, May 2, 2016

5 Top Affordable Rental Locations in Bangalore for Working Professionals

Bangalore has a number of IT and business parks where thousands of working professionals earn their livelihoods. But with the traffic situation in the city escalating to new heights every passing day, it doesn’t make neither financial nor logical sense to move to areas that aren’t close to your workplace.

However, there’s one more concern you need to address- the cost of living. Not every rental property close to these IT hubs come cheap, courtesy of the rising price of rental houses in Bangalore.

 (Picture Source – Pixabay)

Besides, not everybody can afford to buy a luxury apartment or live in a villa in this expensive city. So here are the top 5 affordable locations in Bangalore, you and every other working professional should know about.
  • Whitefield
If you’re particularly in the IT industry, living anywhere in the Whitefield vicinity is the best decision you can make. For starters, you can find houses for rent at as little a budget as Rs. 7000 per month, which come semi-furnished with modular kitchen, geysers and the like. Another important aspect about Whitefield is that it’s a little far away from the fast-paced life of the city and sees relatively less traffic. Basically moving to Whitefield can save you a lot of money and time, which you’d otherwise spend on commute.
  • Marathahalli
With plenty of tech parks and other employment hubs in its vicinity, Marathahalli is yet another locality that sees a vast majority of working professionals looking for an abode. You will get houses or flats for rental as little as Rs. 6000 per month, depending on the choice of area. Places like Prestige Tech Park, Ecospace, and Divyasree Technopolis are just a few of the well-known IT hubs in and around the area.
  • KR Puram
With easy connection to ITPL and Marathahalli, KR Puram is slowly becoming the most sought-after locality in Bangalore. Besides, this area isn’t too far away from the city either. Located along the fringe of National Highway 44 (Bangalore to Hyderabad), this locality also offers you some respite if you’re looking to go for a long drive on a lazy weekend. Rents around here start from Rs. 6,000 per month for a 1 BHK and can go up to Rs. 20,000 per month based on your choices.
  • Horamavu
Located along the Outer Ring Road stretch that connects Marathahalli and the Old Madras Road region to Bengaluru International Airport and Tumkur Road among others, Horamavu happens to be the least chaotic locality to live in. Close to Manyata Tech Park, which is at a distance of about 5 km from here, Horamavu offers a great place to relax and enjoy. Rent around the area start from Rs. 7000 per month for 1 BHK and can go as high as Rs. 30,000 per month depending on a house of your choice. It is close to several leisure places like Kammanahalli, an area that happens to be the most attractive proposition around here.
  • Kaggadasapura
If you’d looked around Kaggadasapura over a decade ago, you’d either have seen acres of empty barren lands or under-construction apartment projects. But now this area is a major hub for working professionals. It is strategically located close to Bagmane Tech Park, which happens to be one of the most beautiful workplaces in the city with its own lake. It is also close to key parts of the city like Indiranagar and Domlur. You can find houses for rent around here starting from Rs. 6500 per month. In case you’re looking to lease flatsor apartments instead of renting, you can also find several interesting options to choose from.

Overall, these 5 prime localities are teeming with budget-friendly houses that you can choose from to improve your experience of staying in Bangalore.

This is a blog post by Chandni Lal

Thursday, April 28, 2016

DLF Launches Mall of India in Noida

DLF officially launches Mall of India in Noida, Part of Delhi NCR region on 27 April 2016. The shopping mall is located in upscale Sector 18 market of Noida. The mall comes up with a retail area of 2 million square feet. The Mall has 18 anchor stores.

The shopping mall will be easily accessible from South Delhi, Lutyen’s Delhi, Greater Noida, Ghaziabad, and Faridabad. The mall offers 7 levels of excitement with enough parking space offering 3 levels of basement parking. The mall is expected to generate footfall of 3 million shoppers per month.

There are 330+ brands and 82+ kiosks brands. 40% area is dedicated to Food and Beverages segment with about 1000 seating capacity in the food court. There is also 7 start DT cinema experience for visitors with a capacity of 2000 viewers.



Find below the complete details of DLF Mall of India:

Tuesday, April 26, 2016

Vastu Tips for Home Buyers

Are you planning to buy a flat or an apartment?

 

Great! Now that we are in the year 2016 buying an independent house is out of the question. It is better to think of buying a flat or an apartment. There are many Advantages of Apartment Living.

But before you buy your brand new apartment or flat you need to analyze a few factors.

Vastu Shastra or the science of architecture is something that you need to examine for your new home.

Some people either deliberately or not so deliberately tend to ignore the Vaastu factors when buying a new home.

Often this creates a lot of problems in the new homes, and it never dawns that certain unresolved elements are welcoming negative energy.

So, what we are going to do here is provide you with Vastu tips for your new home:

 

Directions:


The northeast direction is considered to be one of the sacred directions from mythological perspective and scientifically.

Let us ignore the mythological facts and focus on what are the scientific aspects:

In India, the Northeast direction is the farthest one from the sun. This means the Southwest is closer to the sun and if you keep this area of your home open you are welcoming the sun's UV radiations.

 

UV rays are they good? Of course not!


You do not want to fill your home with these dangerous UV rays.

So, if you have been keeping your home's Southwest door open, close it now and let us think of Northeast.

Vastu comes from the word Vas which means Space and Time.

These are the two most important components of life science that you should not ignore.

As far as Indians are concerned Vastu Shastra is the science of architecture, a legacy, handed across generations.

It is something that we need to nurture and preserve in its best form to lead a happy life in our living spaces.

 

Health, peace and prosperity are the three things that we all want in our homes.


Vastu Shastra is a science that takes into consideration the Solar Energy and Magnetic power of the Earth.

Vaastu also follows the Cosmic Law of Nature. The sun's rays have a significant effect on our body.

We are not aware of these. But staying exposed to the sun's dangerous rays for a longer time can cause severe mental problems.

Have you ever heard elders or someone tell you that you need to sleep with your head facing the South or West?


Why?

Because we know that our head is the North of our body and the feet is the South of our body.

We are aware of the fact that like poles attract and unlike poles repel.

 

So, what happens now?

Consider your body as a magnet.

When you sleep with your head facing the North and feet towards the South, you know what will happen.

The blood circulation increases when all you need is little circulation while sleeping.

So keep your head towards the South or West while sleeping.

Now you realize why Vastu is an important factor that needs to be taken into consideration when buying flats or apartments.

When choosing a builder or an architect, check whether they incorporate all the Vastu Shastra components while building the flats and apartments.

We want you to experience an immense flow of positive energy in your homes and so we recommend you cross check whether your builders consider Vastu Shastra in building dream homes.

As per Vaastu, if not possible to leave all the four directions of your flat or apartment or villa open, you need to at least let the North and East directions of your home open.

There is a lack of space everywhere, so many buildings are being constructed side by side, so obviously it is not possible to leave all your doors open.

But at least, one of them you can keep open to ensure the flow of positive energy in your homes.

We never said that you cannot choose homes that face the South or West direction because there are many people around the world living in such apartments and are leading a happy and contented life.

 

So what according to Vastu are these directions doing?

 

  • West: Brings in materialistic comfort
  • East: Brings in the most important factors mental peace and physical comfort
  • North: Ensures prosperity
  • South: Redemption, Salvation, and relieves you of all the earthly woes.

So if you are eyeing for material wealth then don't think more, a flat facing the West will be the best choice.

But, life is more than materialistic richness.

 

Some Astrology:


Indians especially since we belong to the land of the great Dwarakapuri and having been introduced to the Vedas and ancient sages and rishis, we have belief in Astrology.

 

Vastu has some relation with Astrology too.


For people who belong to the star sign Pisces, East Facing houses are suggested.

If you belong to Libra, Aquarius or Taurus, West Facing houses are the best.

For people belonging to Aries, Sagittarius or Leo, North Facing houses are recommended.

Gemini, Virgo and Capricorn go for South facing houses.

 

Vastu Shastra for Kitchen:


This is where health begins. Ensure that the flat or apartment that you're buying does not face the North East. It would be great if it is in the South West direction.

 

Vastu Shastra for Toilets and bathroom:


In India, the direction of the wind is from Northeast to Southwest, so if your toilets or bathrooms are facing the North East, the air will enter your rooms from the toilet, and it will contaminate the other rooms.

Bathrooms and toilets are best facing the Southwest direction.

 

Vastu Shastra for Bedrooms:


Best recommended that you keep your bedrooms facing the Southwest direction so that you can enjoy a sound sleep after a tiresome day at work.

These are some of the simple tweaks and tips that you can follow when buying a new house or you can think of introducing these points in your home.

Are you buying your first home or apartment? Or do you own a home? Are you leading a happy life? Did you get the Vaastu examined before moving into your new apartment? Share your thoughts and comments on Vastu with us.


This is a guest post by Vipin Nayar

Friday, April 22, 2016

Buying your Dream Home in Kolkata

Buying a home is every individual’s dream. The feeling of owning a property is priceless, unmatched compared to other types of investments such as stocks or gold. Therefore, there has been a steady rise in demand for good properties in the real estate market, especially in certain fast-developing cities like Kolkata. Real Estate in Kolkata, India for instance has been booming, with buyers spoilt for choice with the increased number of luxury flats, 2 BHK flats, 3 BHK flats, duplexes and compact studio apartments on the list of real estate offerings.

Before you start looking for your dream home, here are a few things you must know.

  • Your requirement
First and foremost, decide on the size of apartment you require. Whether you need a studio apartment, a 2 BHK flat, a 3 BHK flat or an apartment with more space. This decision will obviously depend on the size of your family, if you live on your own or have children, your lifestyle and how much time you spend at home on an average. There may also be several other considerations like whether you need a gymnasium or a community hall in the complex, and in such a case, buying luxury flats in Kolkata that come with various amenities, would be a wiser option.

  • Your budget
The next very important consideration is the budget. Know your budget and choose properties accordingly. When budgeting, consider all additional expenses such as property registration costs, legal expenses, stamp duty and taxes. If you are opting for a bank loan, it is important to consider the down payment amount. Most banks require a 20% of the total property value as down payment, in addition to loan processing fees and charges. Arrange the funds in advance so that the entire process of buying a property becomes faster and simpler.

  • Car parking
These days, buying a car park along with your apartment is almost imperative. Check if you need a covered car parking facility or an open car park. It goes without saying that a covered car park often costs a little more than an open car park. Once decided, it is important to include this in your budget too.

  • Preferred location
When deciding on buying your dream home, another important thing to consider is its location. Make sure the property is located close to your workplace and the school, if you have a family with children. What’s more, opting for a property in an area that is well-connected with public transport and has amenities like market, hospital, library etc. is sure to fetch you good returns in case you decide to sell your flat in the future. Neighborhood is also a very important factor. Residential complexes in Kolkata with both budget and luxury flats offer a two-fold benefit - the convenience and amenities of city living and the comfort of a tranquil locale.

  • Resale or brand new?
While location is of great importance, another thing to consider while investing in real estate is the age of the property. First decide, if you would like to buy a resale property or a brand new place. Old properties sometimes can be bought at a much lower rate and can be refurbished in the future to restore the past glory. Then again, new buildings offer modern amenities like club house, community halls, kids’ play area and much more.

  • Know the developer
Do your research and opt for a property that is being developed by a reputed builder. Renowned real estate groups not only use good quality materials, but also guarantee timely possession, easy transparent transaction and even compensate the buyers in case of delayed construction. This gives the home buyer complete peace of mind.

Once this initial filtering has been done, the process of settling for that one perfect property to fit all your needs will become much simpler and quicker.

Summary: Buying your dream home is never easy. To make sure you choose a property that perfectly fits all your needs, we have listed out a few pointers. Follow these and make the right choice.

Author Bio: One of the leading players in the real estate market, Ideal Group takes pride in its rich portfolio of world-class ongoing and upcoming residential projects in Kolkata. The Group has truly embodied their tagline "Pillars of Trust" and won the trust of countless customers.

Monday, April 18, 2016

Real estate Regulatory bill and the path forward

The real estate market in India has witnessed a hulking transformation in regards to development in the recent times. Many policies and schemes have been introduced by the Indian government to improve the condition of the real estate sector. The latest development is undoubtedly the implementation of RERA in each state. This has led the market experts to maintain optimism that the real estate market's reputation will enhance.

One of the industry experts, Mr.Surendra Hiranandani believes that the year 2016 will see the buyer influencing the industry dynamics. He says “The real estate sector has witnessed a mixed bag of trends in FY 2015. Tough lending norms from banks and financial institutions, project delays, and cost escalations have proven a dampener. However, Easing of FDI norms, housing for all, steps towards setting up of a regulatory body, focus on smart cities development, softening of interest rates, considerable progress towards implementing REIT have certainly helped in building positive sentiments in the real estate industry”. He further added, "Given the recent policy changes, FY 2016 would primarily be a buyer-driven market, with buyer strongly influencing the industry dynamics. Builders with strong track record in terms of not only delivery but also maintaining excellence in quality and design will have an edge with the discerning buyer.

To build on the positive developments in real estate industry, what would be critical is industry friendly policies such as single window clearance, easy project finance options for developers and passing of RBI rate cut benefits by banks to home buyers."  

Another industry guru claims that RERA will be instrumental in revolutionizing the way the properties are built, sold, and bought. The prime objective of this bill is to establish a regulatory body, which safeguards the interests of consumers. This regulatory body will be responsible for addressing the disputes of the buyer to maintain the reputation of the industry.

The primary benefit that the bill offers to the buyer is that it mandates the registration process for any real estate project with RERA. It is essential for all the agents, who are willing to sell any property, to register themselves with this authority. It also requires the revelation of all the details related to the registered deals like the land status, layout plan, details of varied approvals, and promoters. The bill aims to reinforce the pact between the builders and buyers and act as an accelerated court to resolve altercations. The bill also restricts the developer from changing the plan without the consent of at least two-third of the buyers.

The bill is introduced to keep a watch on the builders and sellers. It gives an arduous responsibility to the builder of registering and disclosing information on a regular basis through a portal, which is maintained by RERA.

The bill also mandates the registration of brokers with the State regulatory authority, which was a much-needed step taken by the government. This will give the real estate brokerage sector more transparency. Also, working in an organized manner will make this sector all the more profitable.

Growth in the real estate sector has a lot to do with the broker’s skills and his/her ability to cater to the needs of the customer. Training will play an important role in the industry to acquire accomplished brokers as opposed to amateurs.

These are some of the challenges of the real estate bill 2016. Apart from these, there are other shortcomings of the bill that need to be covered by the future amendments. For instance, the bill is restricted to only buying and selling of properties and does not consider the problems the builders face when it comes to approval bottlenecks. Also, the need to keep 70% of the collection in an escrow account is likely to create problems for the builders with limited resources. Though this is a good move, there are chances of an unwanted price hike that would ultimately affect the end buyer.

This is a guest post by Deepak Yewle

Tuesday, April 5, 2016

Looking to invest in real estate? Here are a few guidelines you must follow

Investing in the realty sector can be a good decision if done wisely. Most people channel all their savings and take out loans to purchase a property hoping that it will give them a good return on investment. Hence, this has to be done cautiously to make sure that the money invested bears fruit.

  • Set a budget:
Budget is the most important thing you should take into consideration before buying a property. Set a budget and make sure your finances are in order. For many, Paying EMI is not an easy option. Paying EMI empties out their pocket by the end of the month. It would be wise to ensure that the EMI does not exceed 40% of your monthly income. Make sure that you don’t overestimate your financial capabilities.

  • Research:
Once your finances are in order, the next important thing for you to do is research. You should work with the localities which match your requirement. Some of the criteria which one should consider while looking for a property are:
  1. Locality
  2. Accessibility and connectivity
  3. Presence of social and physical infrastructure
  4. Proposed infrastructure developments
  5. Safety and security
  6. Livability
It is always advisable not to invest in localities which lack basic amenities such as road, water supply and drainage system. Never get carried away with the promises of upcoming infrastructural developments and do not invest your money on those promises. Infrastructure takes time to be built and a few even fail to take off.

For guidance, you can visit IndiaProperty.com as this site provides expert analysis of localities through the micro market research reports and the locality pages.

  • Check the builder’s credibility:
The real estate market is vast and the industry has both reliable and unreliable builders. Do not blindly invest your hard earned money after seeing a too good to be true offer from a small time builder. Make sure you check on the trustworthiness of the builder by visiting their previous projects. This will give you a clear idea about the credibility of the builder and then you can decide whether to invest your money or not.

  • Verify legal documents:
For any property related transactions, title deeds play a crucial role. Check whether the seller has a strong title deed, if not, do not purchase the property. Here are some legal aspects to keep in mind while purchasing a property:
  1. The title deed is an important document without which you will have legal troubles in the future.
  2. Make sure you get the original title deed verified by an attorney before buying the property.
  3. Before acquiring the property, confirm that all the clearances for the property are in place.
  4. If you are planning to buy an under-construction property, do not forget to get the allotment letter and the development agreement from the builder.
  5. The allotment letter has details about the project such as the price of the property, floor plan, delivery date and liability details if there is any delay in delivering the project, whereas the development agreement has the details of the terms and conditions under which the landowner has allowed the builder to use his property.
  6. Make sure that the taxes related to the property are cleared before you buy the asset.
  7. Never hesitate to get an expert’s help if you have doubts.

This is a guest post by Amy Anstey Seelan J

Monday, March 28, 2016

An insight on renting homes in Chennai

Chennai’s harbor development in the 18th century made it a hub for trade between Europe and India. This metropolitan city was the first one to have a widespread WI-Fi facility and conditional access system for cable television. Apart from these, there are many concepts and implementations that have first been made in Chennai.

The city has also developed as a center of real estate, all thanks to the programs launched by the Government to improve the city’s infrastructural projects. This article provides insights into the rental market of this crowded city.


In Chennai, the capital of Tamil Nadu state, there is a huge demand for 1 BHK flats. People prefer renting flats in areas like Sholinganallur, Old Mahabalipuram road, Adyar, Porur, Kelambakam, Velachery, and Medavakam. Being an old city, there are a number of options to choose from. The average price for renting a 1 BHK flat in this city is Rs. 7500.

Areas like Porur and Adyar offer high-end properties too. In porur, you can rent a luxury segment property in about Rs. 13500 and in Adyar about Rs. 16000 with median values lying at Rs. 12,000 and Rs. 15,000 respectively. You can also find budget accommodations in areas like Kelambakkam and Medavakkam where the average rates are around Rs. 6,500.

Apart from basic 1 BHK homes, you can also find 2 BHK luxury homes in Chennai. People who are planning to settle in the city can opt for 2 BHK flats. It is advisable to look for a two room home in areas like the Old Mahabalipuram road, Thoraipakkam, Sholinganallur, Velachery, and Perugundi. These areas may offer homes that are priced slightly above the average rate of Rs. 12000. Also, there is a lot of price variation seen in areas like Sholinganallur, Velachery, Perugundi and Chromepet. For affordable properties, you can go for areas like Chromepet, Medavakkam and Pallikarana.

People who are looking for 3 BHK luxury homes in Chennai should check out areas like Old Mahabalipuram road, Pudupakkam, Thoraipakkam, and Velachery. The best part is that most of the high localities have their price trends in line. The average price for a 3 BHK flat is Rs. 18000. Homes can be rented in areas like Pudupakkam, Pallikaranai, and Medavakkam at a slightly lower price. You will also find a number of options in the Thoraipakkam, Velachery, and Sholinganallur areas, but with a price range variation.

The rental market of Chennai has seen a lot of fluctuations in the recent years. If you inquire about the property rates in Chennai from any renter, you will surely get a high quotation. But that is the sad truth that the city offers properties at a high price.

Buying or renting properties in Chennai is surely expensive. And even if you are planning to rent luxury homes in Chennai, then you surely know they don’t come cheap. Renting homes in the neighborhood of the city center too is very expensive. Affordable houses to buy or rent are difficult to find in this city.

This is a guest post by Deepak Yewle

Monday, March 21, 2016

Four Financial Issues to Resolve Before You Settle Down

When the time comes to finally settling down, we often get so caught up in all the emotional and operational aspects that we forget to take the practical course of considering the financial aspects, before embarking upon this new phase in our lives.

It thus comes as no surprise that financial incompatibility can often cause situations of conflict in a marriage. This includes factors like budgeting, current debts, and current and proposed investments.

Here are a number of crucial financial issues that one needs to delve into, before settling down –






Review current debts –If you have a loan on a car or an education loan, or a credit card bill, you ought to put a number to the debt in terms of the value of your liabilities. It is also important to factor in how long it is going to take to pay back the amount, given the new expenses that are bound to crop in post-marriage. You should also review your partner’s financial liabilities and make a joint decision on whether to individually clear all debts, or pool in resources. This way, budgeting becomes much easier and the fact that there are debts to pay comes as no surprise or a cause for concern later in the marriage – full disclosure is mandatory.

List out assets and ongoing investments –Once you have identified the financial liabilities in terms of current debt, it’s important to look into current assets, investments and income, so as to be able to set a financial plan in place. While most of your investments till now were defined by your individual goals, marriage entails deciding what goals remain individual to a person and which goals, two individuals can combine and work towards achieving together. Make a list of your current and ongoing investments, approximate returns, stock investments and current assets like jewellery and real estate. Once you do this, you can decide the financial responsibility to be borne for each investment, post marriage.

Also, if need be, you might want to make future investments in your spouse’s name, or change the nominee in current investments, and while listing assets. These are aspects that need to be taken into account before settling down so that there are no conflicts or misunderstandings later on.

Financial planning and budgeting – A critical factor you need to take into consideration when getting married, is that your attitude towards money and those of your future spouse, might be different. You should thus have a discussion with your partner, about their spending habits, goals, and future expectations vis à vis those of your own. What you might consider a frivolous expense, might be a priority spending area, in the eyes of your future spouse.

You should also factor in financial responsibilities like monthly maintenance bills or looking after parents, and future plans like buying a house or having children. At this point, you ought to have your individual as well as joint priorities set, so that you can put a number to your short and long term finances.

An additional area of conflict could be actually spending on the wedding, which you should factor in into the financial-planning process as well.

Defining financial responsibility and demarcation of money – Often, conflicts arise depending on who manages the money, or who’s paying the bills. It thus becomes important to plan whether one or both the individuals have access to the funds, whether there are joint accounts or individual accounts or both, and each person’s role in making investments, bill payments and household expenses.


This is a guest post by Paisa Bazaar

Monday, March 14, 2016

Why Uttar Pradesh Government’s focus on roads development and improvement is the step in right direction for realty sector?

Roads are the lifeline of a major growing economy. Not only roads bring people closer by improved connectivity, they also boost trade and commerce. India has second largest road network in the world. National highways in India cover a distance of 79243 kilometers. State highways cover a distance of about 131899 kilometers. And district roads cover a large distance of 467763 kilometers.

Among all the states in India, Uttar Pradesh has the largest road network. There are 42 national highways that pass through the state of Uttar Pradesh. Additionally, 83 state highways complement 42 national highways in connecting the densely populated state of Uttar Pradesh. Following are the list of national highways that pass through the state:
  • National Highway 2 (NH-2): 752 out of 1465 KM passing through Uttar Pradesh
  • NH-3: 26 out of 1161 KM pass through Uttar Pradesh
  • NH-7: 128 out of 2369 KM
  • NH-11: 51 out of 582 KM
  • NH-19: 120 out of 240 KM
  • NH-24: 431 out of 438 KM
  • NH-24B: 185 out of 185 KM
  • NH-25: 270 out of 352 KM
  • NH-26: 128 out of 396 KM
  • NH-27: 43 out of 93 KM
  • NH-28: 311 out of 570 KM
  • NH-28C: 140 out of 140 KM
  • NH-29: 306 out of 306 KM
  • NH-56: 285 out of 285 KM
  • NH-58: 165 out of 538 KM
  • NH-73: 60 out of 188 KM
  • NH-74: 147 out of 300 KM
  • NH-75: 110 out of 1175 KM
  • NH-76: 587 out of 1127 KM
  • NH-86: 180 out of 559 KM
  • NH-91: 405 out of 405 KM
  • NH-91A: 126 out of 126 KM
  • NH-92: 75 out of 171 KM
  • NH-93: 220 out of 220 KM
  • NH-96: 160 out of 160 KM
  • NH-97: 45 out of 45 KM
  • NH-119: 125 out of 260 KM
  • NH-231: 169 out of 169 KM
  • NH-232: 305 out of 305 KM
  • NH-232A: 68 out of 68 KM
  • NH-233: 292 out of 292 KM
  • NH-235: 66 out of 66 KM
  • NH-330A: 227 out of 227 KM
  • NH-730: 519 out of 519 KM
  • NH-730A: 110 out of 110 KM
  • NH-931: 114 out of 114 KM
  • NH-931A: 60 out of 60 KM
  • NH-NE2: 90 out of 134 KM

Uttar Pradesh Core Road Network Development Program (UPCRNDP)

Additionally, state government under Chief Minister Akhilesh Yadav has focused on developing and improving state highways. Uttar Pradesh Core Road Network Development Program (UPCRNDP) has been established under which new state highways will be built and old ones will be improved. In early 2015, World Bank assured a grant of Rupees 3500 Crores for the project. For the project, a total of 24095 KM of road network has been identified including state highways and national highways passing through the state. The money raised will be used for widening of 1000 KM of state highways, building 419 KM of new roads, raising the formation level, pavement rehabilitation/strengthening. The work is expected to be completed within the timeline of year 2017.

Agra-Lucknow 6 lane expressway received allocation of Rupees 3280 crore in UP Government’s 2014 budget. This expressway is expected to be completed by end of 2016. Meanwhile, work on Lucknow-Ballia Purvanchal expressway is expected to begin in near future. The Uttar Pradesh’s Government budget 2016-17 has provision of Rupees 28600 crore for roads and highways projects.


What does it mean for real estate sector?

  • Impact on affordable housing
Road network is an essential part in the development of any city, state, or country. Therefore, focus of Uttar Pradesh Government to improve road network in the state is commendable. This will not only lead to improved connectivity but also enhanced economic activity. New jobs will be created and people will be able to commute from faraway places to cities for their employment.

Building and improving the road network will go a long way in eliminating the housing shortage in the state. Affordable housing can come up in areas where land is cheap and because of greater connectivity people will actually inhabit those places. Therefore, Uttar Pradesh Government’s UPCRNDP initiative will boost demand for affordable housing.

Steps taken in Budget 2016 and UPCRNDP Project will complement each other and housing shortage can be overcome in coming years.
  • Impact on commercial real estate development
Improved connectivity will boost development of commercial real estate across the state. Office spaces, malls, as well as institutional real estate such as hospitals, schools, and universities can be developed on back of enhanced road network. Private investment in this space will pick up and this will further strengthen the eco-system of the state of Uttar Pradesh.

Data Source: World Bank

Monday, March 7, 2016

Why You Don’t Need to Leave Your Home to Find a New One

House hunting isn’t for the faint of heart.


No matter how structured your city is or well paying your job might be, you might still be short of a decent place to live in. A house hunt takes seemingly countless hours of neighborhood tours and location drive-by to finalize that decision on ideal property. If your weekdays are packed, chances are that you would also have to compromise on your weekends to go property hunting with your broker.

As if putting up with your broker isn’t enough, these incessant trips to different localities will also leave you physically and financially drained. Opting for an online realty search, you get to check out countless listings, be it rental or lease apartments, without even having to step out of your home.

Image: Pixabay


Here’s how taking your house hunt online can take a load off your shoulders.


  • Saves Time and Energy 

Visiting each flat for rent personally would take up a lot of your time and energy. Additionally, you’d have to cough up parking and fuel charges if you plan on taking your own vehicle to new localities. Getting stuck in traffic for hours can also leave you frustrated.

When you search for properties online, you save yourself from all these unnecessary hassles. You can simply surf through numerous sites that give you a virtual tour of the property. You can make a list of a couple of properties that you want to check out personally, and pre-book a visit before you zero in on a particular piece of property.

  • Eases The Documentation Process

Unlike conventional processes where the broker would be in charge of the situation while you were in the dark, you would take the lead here. You’d be aware of the proper pricing and wouldn’t be taken advantage of. Some of the real estate sites even help you understand the documentation process.

  • No Brokerage Fee

When you opt to search for flats without brokers online, you directly interact with the owner and avoid having to go through any intermediate. This helps you in getting to know the owner and learning more about the property first-hand. You also free yourself from paying a brokerage fee and all that unnecessary running around.

  • Refines Your Search

One of the best parts of searching for a property online is not having to go through hundreds of random properties to get what you want. Filtering your search according to the locality, specification, amenities, or the budget you are going for will help you streamline your search.

You can get your hands on the best deals when you compare different properties and their rates online. Doing your homework on the current real estate scenario across different neighbourhoods also helps you build confidence in your ultimate decision.  

  • 24/7 Availability

Round-the-clock realty portals let you access different properties throughout the day. With just a PC and phone at hand, you can check out properties online without the even needing to get out of bed. You can get all the contacts and listings you need within the comforts of your home.

This means that you don’t have to compromise on your leisure time. Using this method, you can shortlist a few prospects before you shift into a new home in a different city.

You can now find the home of your dreams without giving up on daily activity. Comment below to let us know how online realty portals have helped you find the right place, and/or if you have a better suggestion!


This is a guest post by Sudarshan Purohit

Friday, March 4, 2016

Budget 2016 – What’s in it for real estate sector and what State of Uttar Pradesh stands to gain from it?



Highlights of budget 2016

Budget 2016, as described by real estate industry experts is a game changer for the overall housing sector in the country. The budget proposes following incentives for the growth of the realty sector in the country:
  1. For houses up to the area of 30 square meters in 4 major metro cities and the houses up to the area of 60 square meters, the budget 2016 provides 100% deduction for profits to a company. These houses have to be approved during the period June 2016 to March 2019 and completed within the period of 3 years. For example, if a real estate developer starts a housing project in Meerut (Uttar Pradesh) for developing houses up to 60 square meters and the project is approved during the period June 2016 to MARCH 2019, then, in that case, the developer will get 100% deductions for profits provided the developer completes the project within 3 years of approval.
  2. Affordable housing has got major boost and service tax has been exempted on the development of affordable house up to the area of 60 square meters. This applies to any central or state scheme.
  3. For first time home buyers, a deduction for additional interest of Rupees 50000 per year for mortgage loans up to Rupees 3500000. The cost of house shall not cross Rupees 5000000. This will provide boost to housing demand particularly in tier-2 and tier-3 cities.
  4. HRA deduction of rent paid under section 80GG for the salaried class has been increased from current Rupees 24000 to Rupees 60000 per month.
  5. Exemption from excise duty on Ready mix concrete that is manufactured at the construction site for the use in construction.
  6. Real estate investment trusts (REITs) can now be a reality. Finance minister has removed the Dividend Distribution Tax (DDT), thereby, clearing the way for successful listing of REITs across India.

 

Housing shortage across India

The budget has cleared many obstacles in the way of affordable housing across India. There is overall shortage of about 20 million houses across urban India. And 187.80 Lacs or 18.78 millions of that shortage belong to economic weaker section or low income groups. Of these 18.78 million shortages of houses, about 3 million of shortage lies in Uttar Pradesh, followed by Maharashtra at 1.9 million, west Bengal 1.3 million, Tamil Nadu 1.2 million, Bihar 1.2 million, Rajasthan 1.1 million, Karnataka 1 million, and rest across other states of the country.


Prime opportunity for the state of Uttar Pradesh

Uttar Pradesh is the largest state in India and there is now prime opportunity for the state to close this housing shortage. The state government has taken many measures in order to eliminate the housing shortage for Economic weaker section and low income groups. Mr. Akhilesh Yadav led state government recently announced Samajwadi Awas Yojna under which efforts are being made to construct 3 Lacs houses by the year 2016. Under this scheme, houses will cost in the range of Rupees 15 Lacs to 30 Lacs. The prices of houses will not exceed 3000 rupees/square feet in cities in national capital region such as Noida, Ghaziabad, and Greater Noida. And in metros, the prices will be capped at 2800 rupees / square feet and in other cities across the state, the prices will 2500 rupees/square feet.


  • How it is being implemented by Uttar Pradesh Government?
The Uttar Pradesh state government has announced variety of measures to implement the scheme.
  • Development of infrastructure
  • Land use conversion to be free of cost
  • Concessions to be given on stamp duty charges
  • Single window clearance system

  • How budget 2016 can be of great help to implement housing schemes in Uttar Pradesh?
To eliminate the 3 million housing shortage across the state, houses need to be built at a rapid pace. And this needs to be taken up by both public sector as well as private sector. While public sector in Uttar Pradesh has announced Samajwadi Awas Yojna in the past, the private sector now needs to step in and construct affordable housing. The budget 2016 provides many incentives for private sector to come in and develop these houses. Tax exemption on profits, exemption from excise duty on ready mix concrete, exemption of service tax are some of the measures that now incentivizes the private sector companies to develop affordable housing in the state of Uttar Pradesh. At the same time, state government can provide physical as well as social infrastructure to make these houses viable and livable.

We hope, with this budget, the state governments across the country will focus on development of affordable housing and Uttar Pradesh can take the lead and be a model state in eliminating the housing shortage across the country.

Wednesday, February 24, 2016

Current state of real estate sector in India and why investment in real estate in Uttar Pradesh can prove to be fruitful for investors

By: Sachin Gupta | Twitter

Current state of Real estate in India

Real estate sector in India is going through a rough phase. Demand is weak because of variety of reasons such as high interest rates, delivery issues, lack of connectivity, lack of social infrastructure, and high home prices. While on one hand, in urban areas alone across India, there is a shortage of about 20 million homes. Most of this housing shortage (about 95%) falls in the affordable housing category. However, on another hand, there are about 12 million homes that are ready but are not occupied due to lack of connectivity and lack of social infrastructure such as schools, colleges, hospitals. In tier 1 and tier 2 cities, project delays have also contributed to the slowdown in the sector. Home buyers are not willing to put their hard earned money in under construction projects because of uncertainties involved as far as completion of project is concerned. This has created a vicious cycle wherein buyers are sitting on the fence and developers are holding on to the prices, thereby, there is no liquidity in the sector.

Project delays and significance of real estate bill

As per Assocham study dated October 2015, over 75% of total 3540 projects across India have remained non starter. This means about 2300 projects have failed to get going. And about 1000 projects have registered significant delays of approximately 33 months. The total value of these projects across all Indian states is over Rupees 14 Lakh crores. Therefore, Government would do well to pass the real estate regulatory bill in the current budget session. The bill will give much needed confidence to the home buyers and safeguard their interests. This in turn, will build the momentum for steady demand and cash in hands of the developers to complete realty projects.

States that are going to benefit

Once consumer confidence picks up in the sector on the back of real estate bill and falling interest rates, the demand momentum will benefit many states across India. Of the total value of Rupees 14 lakh crores in outstanding investments attracted by real estate sector across India, Maharashtra accounts for 21%, Uttar Pradesh accounts for 14%, Gujarat accounts for 13%, Karnataka accounts for 12%, and Haryana accounts for 8%, and remaining 32% by all other states.

Of all the states, Uttar Pradesh is better placed to reap the benefits of demand momentum because of following reasons:


  • Outstanding Investment potential
As highlighted above, Uttar Pradesh accounts for 14% of total outstanding investments attracted by realty sector. Which means about 1.96 Lakh crore (14% of Rupees 14 Lakh Crore). Passing of real estate bill, falling interest rates, improved GDP growth, and focus on urbanization will actually help the state of Uttar Pradesh in making this outstanding investment a reality.

  • Affordable housing
Cities such as Ghaziabad, Noida, Greater Noida, and Meerut in Uttar Pradesh are part of the expanded NCR (National Capital Region). While metros across India have seen surge in property prices and therefore making them out of reach of a common man. These cities in Uttar Pradesh offer plenty of affordable housing options. Greater Noida West (earlier known as Noida Extension) is one such example, where 1.6 Lakh housing units are under various stages of construction and houses in this micro market are priced in affordable range of about 3000-3200 Rs/Sq.Ft. New micro markets in Ghaziabad such as Raj Nagar extension, crossing republic, New Indirapuram also fall in the affordable housing category.

  • Improved infrastructure
The infrastructure in these cities of Uttar Pradesh has really come of age. Connectivity to national capital by road, or by rail is excellent. Metro Rail is already connected to Noida, Ghaziabad. Moreover, plans to expand Metro rail to Greater Noida and Meerut have been finalized. Recently, central government passed the development of 150 kilometers (93 mi) controlled-access expressway, connecting Delhi with Meerut via Dasna in Ghaziabad in India. This will further boost the realty sector in the state of Uttar Pradesh. Therefore, it provides ample opportunities for end-users and investors alike to invest in the growth story of realty sector in Uttar Pradesh.

In addition to physical infrastructure, social infrastructure in these cities of Uttar Pradesh has also leapfrogged. Schools, universities, hospitals, recreational centers have mushroomed in these parts of Uttar Pradesh.

Therefore, combining all these factors and the focus on urbanization, one can reap great dividends by investing in real estate sector in the state of Uttar Pradesh.


Data Source: Assocham, National Housing Bank