Friday, October 18, 2019

Repo rate and its impact on bank's lending rates to home loan customers for buying property in India

Author: Sachin Gupta | Find me on Twitter

To control inflationary pressures, RBI increases repo rate. And it is quite evident from the short term and long term graphs; whenever repo rate is increased, it impacts growth of the industry. And in recent times, one can correlate the slowdown in real estate transactions with increase in repo rate.

Latest short term repo rate changes by Reserve Bank of India



History of repo rate changes by Reserve Bank of India



Whenever, repo rate is lowered it encourages individuals and companies to invest because of lower cost of borrowing.

For example, the debt on balance sheet of 11 real estate listed firms on BSE stands at Rupees 42000 Crores. Even a drop in repo rate by 1% reduces the debt servicing by Rupees 420 crores per year. That’s massive for real estate developers given that other input costs are rising.

Similarly, for a home loan seeker who has taken 50 Lacs rupees of home loan, drop in repo rate results in substantial savings on EMIs.

Loan amount – 50 lacs
Bank interest rate – 11%
Tenure – 20 years
EMI – 51609

Loan amount – 50 lacs
Bank interest rate – 10%
Tenure – 20 years
EMI – 48251

Which means, monthly savings of rupees 3358.

Therefore, just like any industry, real estate sector including the developers and customers are keeping an eye on RBI’s monetary policy and are batting for lowering of interest rates.




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Friday, October 11, 2019

A typical real estate project development process

Author: Sachin Gupta | Find me on Twitter

Once the land development process has been completed successfully, a developer will focus his/her energies on the project development process. Developing and delivering a real estate project successfully is challenging and it lasts for several years passing through various phases. Primarily any real estate project can be divided into 5 phases:


Phase I – Land acquisition
The details about land acquisition process can be found in our earlier post of land development process.


Phase II – Construction
Construction phase requires applying for license (permitting), and project development.

  • Permitting/Licensing:

The permitting process usually begins with an application which identifies the site, its location, and a preliminary design of the improvements to be constructed. This application is then used by public officials to verify compliance with its current zoning classification. If it complies, the permit is granted and the construction of the project may commence subject to building codes and inspections. If the permit is denied, the applicant will usually clarify or amend the application and will ask the city planning staff/director to review it again.

  • Preliminary checklist – Project development:

This checklist is usually the first step that a developer reviews when evaluating a site for possible development.

    1. Allowable uses per zoning classification.
    2. Minimum lot size per zoning classification.
    3. Maximum floor to area ratio (FAR).
    4. Building bulk/density limits.
    5. Setback/building line.
    6. Building height limits.
    7. Building footprint/envelope.
    8. Parking ratios.

  • Important terms/project development:
    1. Setback/building line – requirement to construct building a specified number of feet (setback) from the right-of-way line or other landmark.
    2. Right-of-way line – area designated for a public street or alley that is dedicated for traffic, public use, utilities, etc.
    3. Building related terms:
          • Footprint – it is the shape or outline of the primary building slab or foundation as it will be constructed on the site.
            • Envelope – the total outside perimeter of a structure, including footprints and any exterior patios, mall ways, landscaping, etc.
              • Facade – the exterior, usually the main entrance of a structure
                • Bulk – a three dimensional space within which height, width, footprint, and number of structures/elevations/shapes are viewed in total relative to the land area upon which it will sit to determine land use intensity.
                  • Building codes – refer to required materials and methods used to construct improvements within a jurisdiction.
                    • Permit- document executed by the director of planning authorizing the construction, restoration, alteration, repair, etc., of a structure and acknowledging that it conforms to requirements under the applicable zoning ordinance.
                1. Floor to area ratio (FAR) – it is usually calculated as gross building area divided by square footage of land area.
                2. Height restrictions – used to limit the vertical height of a structure to be constructed.
                3. Allowable use – user activities permitted in a zoning classification
                4. Impact fees – charged by public entities to cover added public sector expenses expected to be caused by the development such as traffic control, drainage, etc.
                5. Incentive zoning – used by city planners to accomplish community goals simultaneously with private sector development.
                6. Inclusion zoning – part of a zoning ordinance that requires that a specified type of development be included in order to obtain permit for that site.
                7. Minimum lot size – per zoning classification
                8. Parking ratio – required number of parking spaces per sq. ft of gross building space or per number of apartment units.
                9. Site plans – drawing done to scale depicting the placement relative to other requirements
                10. Traffic counts – number of vehicle trips per hour past a specific site.
                11. Encroachment – occurs when the construction of improvements extends over a property line on to an adjacent property.
                12. Property tax abatement – forgiveness of taxes for a specified number of years.
                13. Land to value ratio – calculated as rupee value of land to total project value (including land) anticipated upon completion of project.


              Phase III – Completion and occupancy

              There are certain risks in any real estate project development. Once the construction has been completed, there is an additional risk of selling and handing over the project to clients or bringing in tenants in case of rental property. Risk begins with land acquisition and increase steadily as construction commences until cash flows from the leasing phase materialize. It should be noted that factors determining the demand for type of space (such as office, retail, warehouse) being developed are critical to project risk. These factors may manifest themselves in current market indicators, such as vacancy rate levels, rent levels, or the extent of leasing commitments from the tenants.

              A very good understanding of the underlying economic base of an urban area or region is critical when assessing the viability of real estate development.  The point is that investors must examine the demand for space in terms of the characteristics of the demand by end users (tenants) in a given market. This demand in turn depends on the type of employment in the local market and the nature of the functions tenants will perform. Only by understanding the local economy and the nature of employment can developer anticipate demand accurately and produce and supply the quantity and quality of space in the proper combination to satisfy market demand.


              Phase IV – Management

              Once the property is occupied by clients/tenants, there is need for professionally managed facility management team. This team can look into the property management tasks such as maintenance, HVAC, parking management, security, civil works, housekeeping, landscaping, etc. These tasks are equally important and ascertain the long life of property and thus ensure positive rental income as well as capital appreciation. 


              Phase V – Sale
              The developer may choose to sell the property from construction phase onward as happens in residential development in India. Or he/she may choose to hold the property in case of commercial developments provided rental income from the commercial properties is significant enough to justify retention.




              Have any Questions?

              Friday, October 4, 2019

              3BHK Available for Sale in Madhuban Bapudham, Ghaziabad
              Size - 152.62 square meter
              Price Expected - 60.89 Lacs
              Silver Oak, Madhuban Bapudham, Ghaziabad

              Fill the below form to buy this apartment at best prices.







              Monday, September 30, 2019

              How to Choose Building Materials and Estimate their Cost and Quantities for House Construction?

              Building material is any material which is used for the construction purposes. Building materials can be categorized into two sources, natural and synthetic. In order to construct a good quality house in the amount you have budgeted, a thorough understanding of the quality parameters, cost and quantities of these building materials are required.

              The cost of construction depends majorly on the following factors:
              1. Architectural Design opted (like Open Top, Sloped Roofs, terraces with add-on features etc.,)
              2. Structural Design (depends upon type of strata available for foundation and numbers of floors / configurations (basement, stilt,G+2 etc.)
              3. Specification of Building materials selected (Quality/Brand of materials used for painting, flooring, woodwork, Bathroom, Electrical etc.)
              4. Exterior Finish chosen (i.e. front elevation design, stone cladding, facade, etc.)
              5. Peripheral external developments (such as compound wall, driveway, landscape, hardscape, Gate etc,).

              The other minor cost head would be cost of liaison, charges for construction permits & building approvals.

              The Construction cost can be broadly split into Labor and Material Cost. The extremely increasing construction trends are considered the driving force behind this fast upraise of total building construction costs. Taking this trend, the material manufactures have raised the prices of materials considerably in last decade or so.

              Before planning for a bungalow/individual construction unit, one must be aware of the quantities and cost of building materials as they constitute around 55-60% of the total construction cost of a house. While taking a personal round of the nearby market, one should also avail services of construction turnkey solution providers and then take a judicious decision before the start of the construction.

              Refer the info graphic attached in the article to get the building material consumption and their costs for a 1000 Sqft budget house construction. The material quantities can be extrapolated based on the built up area of construction you are planning for.




              The Major raw material, intermediately and finished construction materials contributing major pie to overall material cost are:

              1. Reinforcing Bars(Rebars) / Steel:

              Reinforcement steel is the most important structural material in construction. Steel is used in RCC (Reinforcement cement concrete). Generally rebars available in the market are manufactured through Thermo mechanical treatment (TMT). Rebars comes in different grades (i.e, Fe415, Fe500, etc.,). Fe500 is generally recommended by structural designer for structural requirement fulfillment.

              The approximate Steel consumption per sq.ft built up area (BUA) is 4 kg (for low rise construction i.e., less than 4 floors of construction). Steel contributes the most among all individual materials, about 25% of total material cost. So, a price rise of Rs.5 per kg can make big difference in the total cost of construction.

              2. Cement:

              Cement is an important construction material and when mixed with materials like sand, aggregates (stone chips), and water, it binds them together. It is used in concrete, in brick masonry work, in tiling, and in plaster works.

              Good quality cement should feel smooth when rubbed between fingers. If a small quantity of cement is thrown into a bucket of water it should sink and not float. Cement should always be kept free from moisture. Its storage should have finished floor raised to at least 300mm above ground level and should have airtight storage. Use of cement older than 2 months should be avoided as cement loses strength with increase in its shelf life.

              OPC 53 grade is generally used for concrete works and blended cement (PPC & PSC) for masonry, tiling and plaster works.

              The approximate cement consumption per Sq.ft built up area (bua) is 0.4 bags. Cement as a construction material contributes about 16% of total material cost.

              3. Sand:

              Sand is used mainly in Concrete, Masonry, Plaster and Flooring. Good sand should be well graded i.e., particle size ranging from 10mm to 0.150 mm for concrete and masonry works, and 5mm to 0.150 for plaster. It should be free from slit/clay and organic matter.

              Natural Sand (also called River Sand) is obtained from River Beds. Due to environmental impacts and stringent laws by the government, Natural sand is slowly and gradually being replaced by Crushed sand (for concrete and masonry works) & Plaster sand (for plaster works). Crushed Sand and Plaster Sand are manufactured from Quarry Stone using latest production technology.

              Sand consumption per sq.ft built up area (bua) is 1.8 cft and contributes about 12% of total material cost for building construction.

              4. Aggregate:

              Crushed rocks are used as coarse aggregates and are generally used in making concrete. Coarse aggregates are normally available in two fractions 20mm and 10mm for concrete making.

              Aggregates should be clean, dense & hard. The aggregate should be neither flaky nor elongated. Flaky and Elongated aggregates decrease the strength of the concrete and demands more cement. Aggregates should be stored properly and different fractions must not be intermixed. Both these aggregate fractions should be used invariably.

              Coarse aggregate (chips/gravel) consumption per sq.ft built up area (bua) is 1.35 cft. Aggregate as a construction material contributes about 8% of total material cost.

              5. Bricks:

              Bricks, in old days, were commonly made of clay and were known as burnt clay bricks. Now a days, bricks are made of other materials such as fly ash. But clay bricks are still widely used in low rise residential constructions today. Bricks are used for masonry wall construction. Other substitute materials to bricks are Concrete solid/hollow blocks, Autoclaves Aerated Concrete (AAC) Blocks and Cellular light weight concrete CLC Blocks.

              The clay bricks should have uniform size, uniform copper color, plain (without undulated surfaces), rectangular surfaces with parallel sides and sharp straight edges. Well burnt brick should give a metallic sound when struck with other brick. Good bricks should not exceed +/- 3 mm tolerances in length and +/- 1.5 mm tolerances in width and height. Water absorption should not exceed 20% by weight.

              Bricks approximately cost Rs.7000 per 1000 units (Nos). Bricks contribute to about 5% of total material cost and are consumed approximately at 1.45 brick per sqft of built up area (BUA).

              6. Tiles:

              Ceramic tiles are generally made from red or white clay fired in a kiln. They are finished with a durable glaze which carries the color and design. Ceramic tiles are manufactured for both wall and floor, having varying degrees of wear resistance and water absorption. High strength and Low water absorption ceramic floor tiles are commonly known as Vitrified tiles. Tiles prices vary according to their types and quality.

              Tile should be easy to clean, strong, sturdy and stain resistant. Tiles in wet area like bathroom should be of anti-skid floor type.

              Tiles consumption per sq.ft built up area (BUA) is 1.3 sq.ft. Tiles contribute about 8.0% of total material cost.

              7. Paints:

              Paints can be broadly classified into water based or solvent based. They come in thousands of shades and gives multiples finishes like Matt, satin and glossy finish. Certain Paints also have washables, anti-algae/fungal, crack bridging properties.

              When selecting an interior paint, try choosing water-based paint instead of oil-based gloss paint. Water-based paints have less odor than conventional oil-based paints.They are much easier to clean up and are durable.

              When selecting an external paint look for waterproofing, anti-algae, and dirt pick resistance properties.

              Paints (Internal- Emulsion and external grade) consumption per sq.ft built up area (BUA) is 0.18 liter (0.14 liter for internal painting and 0.4 for external painting).

              Paints contribute about 4.1% of total material cost.

              The Finishers (Bricks, Tiles, and Paints) collectively contribute 16.5% of total material cost.


              8. Fittings Category:

              Window, Door, CP Fittings, Sanitary wares, Plumbing and Electrical fittings when combined contribute to 23% of total material cost considering budget brands. Top brand options may increase this category cost to 30 – 35% of the total cost of construction. Fittings can be selected based on one’s requirements and choice. In branded fittings quality should not be a concern.


              Conclusion:

              Other than estimating the cost and quantities of construction materials, one should also have knowledge of current labor cost in local markets. This is because the labor component constitutes to 40-45% of the total cost of construction of a house. An unskilled labor charges Rs. 350 to 400 per day whereas skilled labor such as mason, carpenter, painter, electrician etc., charges between Rs. 800 to 1000 per day. The total cost of construction (including both design, material and labor) per square feet may vary anywhere between Rs.1250 and Rs.2500 per square feet depending on the specifications of the building materials you choose for you house.

              Now that you have the total cost of construction, you can start sourcing the funds required for the project. Your source might be personal savings or loan from banks/ friends. Although this sounds like a naive step, lack of resources during construction might sometime over shoot the budget. Contractors will charge for De / Re-Mobilization. Some of the construction materials like Cement etc., might expire/loose its strength if the project is delayed by long. So sourcing the funding before the start of the project is just as important step as any other. A detailed cash flow for purchasing construction materials has been shown in the info-graphic to ensure smooth construction flow with time.



              This is a guest post by Vinod Kumar Singh

              Monday, September 23, 2019

              Looking to construct your own house on a given piece of land? Pay attention to stages of construction and the cost part of it.

              Author: Sachin Gupta | Find me on Twitter

              Planning to build your home on a piece of plot? What are the things that one needs to keep in mind before embarking on a year long journey of construction and dealing with multiple contractors, suppliers, etc? Surely, as an owner of the plot, you would have got multiple offers from architectural firms, contractors about the cost estimate. However, before even talking to these firms, one need to do his/her cost estimation.

              Constructing one’s house is not easy because of the nature of the work. One needs to work/deal with professional firms such as architects, contractors and at the same time deal with labor. Therefore, you not only need to plan the stages of construction but also the costing part of it. Doing the cost analysis helps you in analyzing what you need to build and what you can postpone for future dates. For example, if your budget is limited, then in all likelihood, you may not go for modular kitchens, lavish bath fittings, etc.

              Here we present the quick ‘to do’ list for you to arrive at a guesstimate of cost that you may incur during the construction of your dream house. This will help you in planning your construction stages as well as cost part of it.



              Have any Questions?

              Monday, September 16, 2019

              What is the process of securing a home loan in India? What are the things I should check before opting for a home loan provider? And what are the various kinds of home loan schemes available in the Indian market?

              Author: Sachin Gupta | Find me on Twitter 

              In the previous post, we discussed about the dilemma of renting versus owning. However, after an in depth analysis of various elements described in the post, Sumit Sharma decided to go ahead with the purchase of the apartment. Now, the next step for him was to arrange for the mortgage loan to finance his purchase. Without a doubt, there are numerous lenders (mostly banks) in the market willing to lend money at competitive prices. Which lender (bank) to choose? What type of home loan to avail? And what are the things to remember during the loan process? These are some of the serious questions Sumit Sharma was confronted with. Lets Break It Down to smaller elements (L BID) and hope Sumit Sharma makes an informed decision based on the understanding of following elements:

              Things to check during a mortgage loan process:
              Interest Rates:
              As per the RBI guidelines, home loan interest rates are linked to bank's base rate. Base rate tends to move up and down depending upon the interest rate movement in the economy. As a buyer, check the interest rates from various banks that are offering the similar mortgage loans. Usually premium charged by banks can be negotiated with the chosen bank; however, it depends on your credit history. Since, banks are in the business of lending money, therefore being a customer one must exercise the customer power and negotiate a best possible interest rate with the bank.

              Processing fee:
              Normally processing fees include statutory costs, third party charges, and additional finance charges. Because of problems involving loan fees and the potential abuse by some lenders of charging high fees to borrowers, a legislation requires lenders to show annual percentage rate (APR) being charged on the loan to the borrower. For example, if the fixed interest rate charged by a bank is 12% and processing fee is 2%, then normally APR would be 12.25%. Processing fee charges can also be negotiated with the bank.

              Prepayment penalties:
              Many borrowers mistakenly take for granted that a loan can be prepaid in part or in full anytime before the maturity date. This is not the case; if the mortgage note is silent on this matter, the borrower may have to negotiate the privilege of early repayment with the lender. However, many mortgages provide explicitly that the borrower can pay a prepayment penalty should the borrower desire to prepay the loan. Prepayment penalties are not included in APR.

              Types of mortgage loan:
              Fixed Rate Mortgages - Constant Amortization Mortgage Loan (CAM):
              In this type of loan, the interest rate remains fixed during the tenure of the loan. Here, constant principal amount is amortized (reduced) in each installment. The user has to pay the sum of constant principal amount and interest that is charged on the principal. For example, on a loan of say 12 lacs rupees for 10 years at an interest rate of 12% per year, the constant principal amount that will be reduced every month is 12000 rupees (12lacs/120). In addition, for the first month, interest will be 12000 rupees. However, the interest charge will keep on reducing as the principal is amortized every month by constant amount. Therefore, in constant amortized mortgage loan (CAM), the monthly installment keeps on reducing.

              Fixed Rate Mortgages - Constant Payment Mortgage Loan (CPM):
              In this type of loan, the interest rate remains fixed during the tenure of loan. In this type of loan, monthly installments are constant. Here, principal amount reduced (amortized) in the starting months is less as compared to the principal amount in later months. However, the interest payment is more during the starting months and then reduces in later months. For example, on a loan of say 12 lacs rupees for 10 years at an interest rate of 12% per year, the monthly constant installment will be 17216.51 rupees.

              Fixed Rate Mortgages – Graduated Payment Mortgages (GPM):
              Some individuals have less income in starting years of their careers; those individuals are not considered for loan. To overcome this effect, lenders have designed a mortgage loan that retains a fixed rate of interest but includes a series of stepped up payments that are lower in earlier years, thereby better matching borrower’s incomes, and then rising over time. These loans are known as graduated payment mortgages (GPMs)

              Adjustable (Floating) Rate Mortgages (ARM):
              These mortgages provide an alternative method of financing through which lenders and borrowers share the risk of interest rate changes. In this type of loan, since interest rates are adjustable, they are indexed to say wholesale price index (WPI) or other market interest rates. For example, someone who applied for ARM indexed to WPI in year 1 at 5% interest rate might be paying 12% interest rate in 2nd year because inflation has increased by 7%.

              Hybrid Adjustable Rate Mortgages:
              This is the most common type of mortgage loan used these days. Hybrid ARMs combines elements of fixed rate mortgages for periods of 3, 5, or 7 years, after which interest rates are reset and the loan becomes an ARM. Subsequent payments are usually reset every year for the remaining maturity period. For example, a 3/1 hybrid would mean a three year fixed rate after which the interest rate would become adjustable, tied to an index, and would be reset each year thereafter.

              So friends, before going to a bank for home loan, take a look at this blog or even take a print because even if one saves or negotiates .25% on interest rates, processing fee, or prepayment penalties, then it’s worth the effort. Don’t overlook that :)



              Have any Questions?
               

              Monday, September 9, 2019

              Using Tech in the Home - A Video Wall in your Home

              Video walls can be an amazing addition to your home decor, as those in the world of business have known for a long time. This is because video walls have been utilized by business people for a long time but they are just starting to catch on in a home setting. Below we will discuss ways in which you can use a video wall in your home.

              First, think of the game nights that you can have with a video wall in your home. You and your buddies can play video games on a screen that makes the action truly immersive and will make your game nights the most popular if not in your city then definitely in your neighborhood. Even if you are alone, your gaming experience will surely be at a higher level.

              Next, movie night. Family movie nights watching the latest Hollywood blockbusters or even a more highbrow art-house film will be an experience like going to the cinema, with crisp visuals and immersive sound if you invest in speakers and perhaps surround sound. You won’t even need popcorn, as the wow factor of the screen size and visual presence will keep you interested.

              Next, your home office. As we have said, those in the world of business have long used video walls. They can facilitate team working, as you and your team will be able to work on a project whilst tracking any changes and ideas on the screen in real time, and the interactive elements of a video can be utilized to improve your business's performance. Having one of these in your home office will also send out the right message to your business competitors.

              Of course this is not an extensive list of ways in which you can use a video wall in your home. You probably have other ideas. After all it is your home, not ours!



              What are the Real Estate and Property market Terms and Definitions in India?

              Author: Sachin Gupta | Find me on Twitter

              Looking to buy an apartment in a builder project or a piece of land, Or for that matter, looking to buy/lease office space property? We are sure you will come across many terms and definitions which are new to you and therefore comprehending them is essential to make sure that you are not overpaying.

              Take for example, the distinction between carpet area, built-up area, and super area. Most of the builders in India will charge you on the basis of super area. However, in some locations, they may charge you on the basis on carpet area. But the prices will be adjusted accordingly. For example, some builders in Mumbai charges on the basis of carpet area of the property and therefore their base selling price is higher as compared to the builder who is charging you on the basis of super area. Super area is the entire area of the building which includes carpet area, lobbies and corridors, walls, lifts, staircases basements, and other atrium and utility areas. Carpet area is the actual usable area within the walls of the floor. Since, you will using the lobbies, corridors, lifts, and other common areas, therefore, a builder will take all of these into consideration before rolling out the final base price. Whether you pay by carpet area method or by super area, all the charges will be included in the final price.

              Similarly, when you go to the local registrar office to register your property, there will be terms like circle rates or market value that will be used to arrive at stamp duty and registration charges. In the below document, one can find all the terms and definitions that are used in Indian real estate and property market.





              Have any Questions?

              Monday, September 2, 2019

              Can I time the real estate market?

              Author: Sachin Gupta | Find me on Twitter

              During the period of 2003 to 2008, property prices appreciated sharply. Land prices almost tripled in most parts of the country on account of faster jobs creation, urbanization, and rising income levels. Were these the only reasons for sharp appreciation? No, says the experts. According to them, real estate is a cyclical industry and at the beginning of the last decade, real estate prices were at their nadir. The coupling effect of sharp GDP growth and cyclical nature of real estate industry resulted in sharp appreciation of property prices from 2003 to 2008.

              However, as the world financial crisis hit the world economy in September 2008, GDP growth of most emerging economies started to dwindle. India was no exception and government & RBI brought in policy measures. In fact, the advent of the global financial crisis in 2008 caused resurgence in Keynesian thought. Interest rates were lowered and government provided stimulus (total spending in the economy) to boost the economy. At one point of time, RBI’s repo rate came down to a low of 4.75% in April 2009.

              The impact of financial crisis was severe on real estate market. Some of the large real estate developers started offering discount to the tune of 20% in 2008. The sector began to recover on account of government policy initiatives and lowering of repo rate. However, massive government spending and low interest rates during the period of 2009-2011 resulted in inflationary pressures. And the focus now shifted to tame inflation and thus interest rates started to go up and that resulted in decrease in investment by individuals and companies.

              In last 2 years, real estate transactions including office space absorption and home sales have come down. The prices have stagnated in most micro markets.



              With this in background, can you, the real estate investor really time the market? It’s highly unlikely; however, one can pay attention to the real estate investment strategies, demand drivers, and supply elements.

              1. Real estate investment strategies




              2. Demand drivers
              Following are demand drivers for real estate sector
              • Industry
              This is a no brainer; even my grand mom would say prices would appreciate more in cities/markets where there is all the likelihood of work or jobs creation or setting up of industries. Therefore, as an investor one should regularly visit the city development authority’s website and analyze the city’s master plan. A master plan would ideally comprise of the road map for city's development including the setting up of industries, educational institutes, recreational zones, and residential development. At the same time, pay attention to the news which highlight setting up of a particular industry in your region. For example, the driving industries in Gurgaon are Auto and IT and setting up of these industries in 80s and 90s have resulted in real estate boom in the city.
              • Population growth
              Growth in population requires development of housing. Other societal changes such as rise in formation of nuclear families, movement of skilled workers from other parts of the country again require development of housing. Analyze the population growth in your city by following census reports along with indicators for urbanization.
              • Income levels
              It’s true that setting up of an industry in your region would result in direct and indirect jobs creation which will lead to variety of real estate development. However, pay attention to what kind of industry is this? And what are the income levels of people in your region? For example, real estate prices in Gurgaon have appreciated more because of high income levels of people in the city as opposed to say Bhiwadi (primarily a manufacturing town) where income levels are low.


              3. Supply elements
              Following are supply elements that affect real estate sector:
              • Interest rates
              As explained above, interest rates have direct impact on the supply of real estate. High interest rates bring down the overall supply. On the other hand, low interest rates encourage investment by both individuals and companies.
              • Land availability
              Again one should look at the city’s master plan for availability of land. If land supply is limited, it is a good indicator that real estate prices will shoot up faster than expected. And if there is plenty of land available with the city development authority; it will mean price appreciation will be linear. For example, in Delhi, due to limited land parcels, property prices appreciated sharply. However, now, DDA has initiated the land pooling policy and has demarcated new land parcels. It is now expected that availability of this new land will put pressure on existing property prices in the city and city outskirts. Raising the FSI/FAR can also result in softening of property prices. Track those developments.
              • Physical and social infrastructure
              One should also pay attention to the existing supply of physical and social infrastructure in the city. In certain cities such as Greater Noida, physical infrastructure is in excellent shape. But property prices have not appreciated sharply. This is because social infrastructure which includes industrial development is minimal.


              Equilibrium
              As long as supply and demand are in equilibrium, the returns from real estate investment will be linear. Therefore, as an investor, one should look for distortion in demand and supply curves. If demand is expected to be higher than the supply, it calls for investment in real estate to make windfall profits. If supply outdoes demand then it will yield low returns on your investment. 


              Can I time the real estate market?
              No, it’s not possible to gather data to time the real estate market. Instead, one should solely focus on 3 broad ideas as explained above and only then one should make a bet on real estate investment.

              Did you follow these 3 principle ideas for real estate investment?




              Have any Questions?

              Monday, August 26, 2019

              What are the parameters that I should pay attention to in order to maximize my returns on Property Investment?

              Author: Sachin Gupta | Find me on Twitter

              Real estate is a complex business to be in. Not only one needs to understand the market (supply and demand element), but at the same time, one should be aware of tax laws, registration processes, title conveyance, planning the development of project, rent laws, and state government’s land policies. Therefore, as an individual investor, what is it that one should take primary note of in order to maximize his/her returns on investment made? Let’s explore below:


              • Micro market trends
              Although not foolproof, the market trends with respect to movement of property prices present an insight into the gains and losses of micro markets within a city. If a micro market or locality is showing downward trend for 3-4 consecutive quarters, then it is a clear signal that there is something wrong with the locality that investors are wary of. However, if whole city is showing downward trend because of slow down of economic growth or political instability, then, one needs to be patient before investing in any locality within that city.

              There are 3 to 4 major property indices in Indian real estate market. Analyze them in detail before investing in a property. The most talked about property index in India is released on a quarterly basis by National Housing Bank. One should definitely pay attention to this residential index.


              • Master plan of a city
              Master plan of a city is another key indicator as far as maximizing returns on your property investment. Master Plan is developed by town planning authorities or city civic bodies. It is a plan that takes into consideration city’s existing population, future expansion in population, need for infrastructure, and industrial development within a city. To accommodate population growth and facilitate industrial development, civic authorities earmark or zone the city. Certain pockets or sectors are demarcated for residential development, and some other for industrial or commercial development. Therefore, what master plan tells you is that how the city’s development would pan out for coming 10-20 years. Pay considerable attention to this aspect before investing in a property. Here are the links of civic bodies across India that deal with master planning.


              • Where are builders building the new projects?
              Once master plan is prepared, civic bodies then invite applications from private developers to develop the land. Therefore, it is no surprise that builders are allotted land in one cluster or certain specific clusters of the city. Which are these clusters? In addition to finding it out in master plan, one can simply analyze the market and see the launch of new real estate projects.

              In addition, one can find below the detailed document comprising the Guidelines for achieving maximum returns on real estate investment in India.






              Have any Questions?

              Monday, August 19, 2019

              What impact does interest rate have on the state of real estate sector in India?

              Author: Sachin Gupta | Find me on Twitter

              18th December 2013 was keenly watched by the markets and industries alike, particularly the real estate sector in India. RBI governor was to announce the monetary policy and interest rates hike was expected because of the stubbornly high inflation prevailing in the economy. However, to the surprise of all and sundry, Raghuram Rajan refrained from rate hike and brought smiles to the market and industry.

              Commenting on the policy, Real estate major DLF Group Executive Director Rajeev Talwar said: "It's a welcome step. This is the first sign of recovery. If government can release food stocks to contain food-based inflation then possibly in coming time RBI may be able to take more steps for recovery of the economy. RBI governor has taken a bold step by keeping the rates flat." Most other real estate developers and consultants welcomed the step. So, what kind of impact can interest rate have on property sector in India, let’s explore.


              • Firstly, what are interest rates?

              Consider an investment portfolio having investments in all productive activities in the economy based on their respective share of the economy to the total value of all productive activity in the economy, the rate of current earnings on such a portfolio would be equivalent to the real rate of interest. Such a rate would also be the rate required by economic units to save rather than consume from current income. This is also the minimum rate of interest that any investor, be it in realty sector, would least likely expect from their investments. Therefore, when RBI announces that Repo rate would stay unchanged at 7.75%, it was welcomed by the industry.


              • Relation to inflation:

              In addition to the real rate of interest, a concern that all investors have when making investment decisions is how inflation will affect investment returns. Inflation in India is particularly high; however, of all the commodities which form the basis of calculating inflation, the food inflation has been highest. And RBI was worried about curbing the inflation which eats into returns on investments or future incomes. However, RBI’s view is that most of the concern for inflation is the supply side and having had excellent monsoon would probably bring the inflation down due to bumper crops. Therefore, Rajan refrained from raising interest rates.


              • Effect of interest rate on real estate supply:

              Real estate supply is the addition of new stock of housing, office spaces, retail spaces, etc. to the market. Now, when a real estate developer decides to bring that supply to the market, he/she has to justify at-least the real rate of return on his/her investment. If the returns are low, investors would rather save their money than invest in realty projects. Therefore, when interest rates are low, it encourages builders to invest in real estate projects rather than save their money. At the same time, they can borrow funds from the market at lower rates and thereby cost of building real estate projects come down. Additionally, the debt servicing for the leading real estate developers come down and there is renewed excitement for all the real estate players. Financing real estate projects involves borrowing on a long-term or short-term basis. Because large amounts are usually borrowed for property development, financing costs are significant in amount and weigh heavily in the decision to develop real estate projects. Therefore, the lower the financing costs, the better it is for builders to bring new supply to the market.


              • Effect of interest rate on real estate demand:

              The demand for housing or commercial property is generally determined by the population growth, household income, household preferences for other goods and investments, and the interest rate that must be paid to finance the loan. Now, an individual who is looking to invest in a property will certainly evaluate his/her financing costs and higher the financing costs, the less likely, that individual would be to refrain from investing in property. For example, an individual buys an apartment at Rs. 30 Lacs. He procures a loan of Rs. 20 Lacs for 20 years at 11%. The EMI or monthly payment will be Rs. 20643.77. However, as we noticed today, State Bank of India has recently reduced their lending rates. And even a drop of 50 basis points or 0.5% would bring down the EMIs from Rs. 20643.77 to Rs. 19967.60. Thereby, cost of financing goes down by Rs. 676.17 a month or Rs. 8114.04 a year. Hence, bringing interest rates down encourages buyers to invest in property.

































              • Desired Scenario:

              Having the desired equilibrium between inflation and interest rates will lead to the growth of realty sector where both suppliers and consumers of real estate feel encouraged in participating.  And this will eventually lead to the overall growth of the Indian economy.


              Have any Questions?

              Tuesday, August 13, 2019

              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

              Wednesday, August 7, 2019

              DIYs that can increase the value of your home

              Every home once in a while has to go through some improvisations to increase the value of the house. It is more so if you are looking to rent or sell your property. Some physical changes and improvements can add to the appeal of your house and make it look more attractive. A fresh coat of paint, some new wood work inclusions etc. can be a good start to home improvisations. But if you are looking to do some value additions without spending much, you can try some of the DIYs listed below.

              To make a house look more elegant and bright, light color drapes paired with white upholstery and white based furniture pieces are the key. So you can start off by changing the curtains. De-stain any old wooden pieces and re-stain them according to the color tone of the room. Few other economic changes would be to either steam vacuum the carpets or change over the carpets to lighter shades. Lighter shades of carpet make the house look big and elegant. Symmetrical patterns on the back-splash of the kitchen counter, stairway railing and verandah railing will make the house look organized and high fashioned. Keeping the kitchen counter top clear of unwanted items will make the counter seem big and attractive.





              Bedrooms are the biggest appealing points when considering a home. Big beds with neatly laid white and fresh linens are biggest attractions. Symmetrical arrangements of the bed with side tables and other furniture pieces in the room gives the room a sense of space. At the same time, one must make sure that bedrooms are free from Mosquitoes and flies. That can be a real turn off for potential buyers or renters. There are variety of options such as Mosquito Net, Mosquito Killer Machine, Mosquito Repellent that can be used to eliminate mosquitoes from the bedrooms. Similarly white sheer curtains and drapes make the room seem brighter. You can customize the door and cupboard knobs by painting them all in a same tone of metallic shade. These metallic shades make the home appear custom made and add value to the property. Landscaping in the backyard or merely adding some greenery to your terrace garden will show detailed touch in the house. Every buyer or renter want to see a personalized touch in the house they are looking. Creating a specific purpose for each space in the house will show how each space can be efficiently utilized. Even if it is not utilized the same way as yours, it throws opportunities and ideas for much more use to the space.

              Use of energy efficient fixtures and appliances adds as a huge advantage when trying to put the house on the market. Energy efficient incandescent light bulbs, power saving smaller appliances will be looked up as a huge saving on a long run. Adding additional storage outside of the house in the garage will also be considered a value addition. Leaving these additional storage half empty will make the storage space seem more and will help the buyer visualize how much the storage space can accommodate. Every home improvement once started must be completed to satisfaction. Refrain from taking bigger home renovation projects if the deadline seems too tight. Or hire a professional Home Renovation company which can provide you end-to-end solutions including modular kitchen, wood work, steel or iron doors, electric & bath fittings, flooring, walls, interiors, and exteriors. Consider the use of the particular update or renovation in the long run and foresee how it will add value to the house before implementing any changes to your home.

              This is a guest post by A. Ramya

              Wednesday, July 31, 2019

              What are your Rights as a Home Buyer?

              Are you planning to buy a home of your dreams? Well, buying a home is a bit tedious task. It involves many complex legal processes. Buying a home is perhaps one of your largest financial investments. Isn’t it? Particularly, if you are a first-time home buyer, your mind would be filled with hundreds of doubts and questions.

              For instance, if someone is looking for flats in Calicut, he/she would be concerned with his /her rights over the property, terms and conditions offered by the builders, delays if any and other problems. As a home buyer, you might have many questions.

              Before diving into what the home buyers’ rights are as per the Government norms, let us first analyse the process of buying a home in India.


              1. First analyse your financial situation and requirements.
              2. Find a property that caters to your specific requirements.
              3. Inspect the property and seek professional help if needed.
              4. Get into an agreement with the seller. Ensure that details like price and also personal details of both buyer and seller are highlighted before signing the same.
              5. Find a reliable lender. It is always recommended that you associate with reliable financial institutions like the SBI while applying for a home loan. Play it safe.
              6. Perform a thorough analysis of your property to avoid any loopholes in the agreement.
              7. At the time of closing, ask seller for all the legal documents associated with your property and get it registered in your name.


              These are some of the common steps that one follows while buying a home. Now, let us shift the focus on the rights of a home buyer. As a home buyer, there are several rights granted to you that include mortgage loans, the rate of interest on loan and several others. Awareness of such rights protects you from being duped.



              Here are some of the rights that you are entitled to as a home buyer:

              Right to obtain information
              The home buyers are eligible to know the details of sanctioned layouts and plans of the building. They can also claim for the specifications which are approved by the construction control authority.

              Right to know the stages of construction
              Under RERA, the home-buyers are entitled to know the stage-wise schedule of the construction of the project. It includes the provision of water, electricity, sanitation and other amenities promised by the builder.

              Right to possession of the property
              The home-buyer has the right to claim possession of the building, plot or apartment. It is the duty of the builder to provide all the legal documents to the buyer.

              Rights to document
              It is the duty of the real estate builders to handover all the legal documents related to the property to the home-buyer. Under RERA act, allotted can claim documents and plans of the common areas.


              These are some of the rights one should take advantage of as a home buyer. So, if you are looking for your dream home, exercise your rights and make an informed decision. Let me know if you have any doubts or your feedback in the comment section below.


              This is a guest post by Sreekanth, who is a digital marketing expert at Webdura Technology. He enjoys experimenting with new techniques in both print and the web. He also loves to explore roads less traveled. Reach him by writing in your details in the comments sections.

              Monday, July 29, 2019

              What are the things one should notice before taking possession of the property or new flat in India?

              Sumit was finally relieved that he will be getting the possession of his flat in Noida. Sumit had bought this under construction flat in 2009. After many delays due to environmental clearances and slow progress by the developer, the flats were finally ready for possession for flat owners. Sumit and other flat buyers in this group housing project had several rounds of discussions with the builder and environment ministry for speedy delivery of flats. Because on one hand, many of these flat buyers including Sumit were paying monthly rent and on the other hand, EMIs on these flats had started. That was double whammy for Sumit and others.

              Now that, flats are ready for possession, what shall Sumit and other home buyers like him verify in order to make sure possession of flats is legal? Before handing over the final payment and taking possession of the property, Sumit and other flat buyers in this group housing project shall ensure that:

              1. Property is vacant
              2. Title certificate to be handed over by seller to buyer
              3. Buildings plans, approved layouts, and other supporting documents (original) to be handed over by seller to buyer
              4. In case of new group housing project (as is the case with Sumit), it shall be verified that building has been given the occupancy/completion certificate by the concerned authority
              5. Mutation is done to reflect the name of the purchaser


              Find below detailed document highlighting what needs to be checked before taking over the possession:

              Monday, July 22, 2019

              Vaastu tips to place decorative items in home

              Buying a new house is considered a monumental job in today's world. When we buy our dream home we start decorating it to make it reflect our liking and personality. While most of us follow Vaastu Shastra to design and build our house, we don’t take much care of internal arrangements and using decorative accents inside the house. Following vaastu tips in our home is believed to offer prosperity, wealth, health and happiness. Vaastu Shastra tells that placing things at right position and arranging the internal things according to Vaastu will help in creating a peaceful and happy atmosphere at home. Here are few tips to make internal arrangements inside your house.

              Always have storage or console in the south and west wall and do not have storage in the eastern and northern wall. If you have heavy furnishing and other heavy items in the southern and western side of the house, Place TV and electronic items in the eastern and northern wall. Crystal decorative accents should be placed in north or east side. If the decorative items at house are heavy weighted then one should place them in the south and western walls.

              Here are few tips to design your home with respect to different directions of home.

              • North-east corner:
              North-east corners are always considered as a place of wealth and prosperity. Do not place any heavy statues, heavy decorative objects, and holy shrines in this corner. Also when you are constructing your house, do not have any overhead water tank or septic tank in this corner. Do not dump many things in this corner. It is very important to keep north-east corner of a house clean and tidy to have wealth and prosperity in house.
              • South-west corner:
              This is the best place to store valuable things, documents, cash, and jewels. You can place cupboard in this corner as it is considered a corner of wealth. Place the cupboard in this corner facing east or north. You should open the cupboards towards north.
              • South-east corner:
              If you wish to bring good luck and wealth to your house, then you can place money plants in purple pots in this corner.






              Having discussed about importance of different corners of the house, let us take a look on where to place certain decorative items at home according to Vaasthu Shastra.

              • Never place the statue of lord Ganesha in the north-east corner of the house
              • To attract wealth to your house, you can keep active fishes in clean and ventilated aquariums
              • Always keep the entryway of your house clean and free from clutter
              • You can place mirror in cash drawers or incorporate mirror into the design of your cupboard and cash drawer to multiply wealth
              • Place painting depicting natural scenes, waterfalls, gardens and flowers in home
              • You can place flowering plants inside your house and avoid placing cactus and thorny plants inside your home

              Following Vaasthu Shastra while constructing you home is always vital as it is believed to bring wealth, peace, prosperity and health to your home. Apart from building your home according to Vaasthu, placing certain decorative objects in proper place and directions will bring all good luck to your home and creates a harmonious balance.






              This is a guest post by Pratheepa who writes for indiaproperty.com – the online portal that meets the requirement of sellers, buyers and real estate professionals in the real estate space of the country.

              Monday, July 15, 2019

              Codes for design and development of earthquake resistant buildings in India

              Author: Sachin Gupta | Find me on Twitter

              While buying an apartment in a builder project, one would have noticed the words ‘Earthquake Resistant Building’ in the ‘Specifications’ section.  This is mandated as per the codes and guidelines framed by The Bureau of Indian Standards (BIS).

              As we know, a good part of North India and hilly regions have been classified as seismically sensitive zones or earthquake prone. Therefore construction of buildings in these regions has to be meticulous and as per the strict guidelines and set of rules laid down by The Bureau of Indian Standards BIS. Deviation from these guidelines may prove to be harmful in case of a severe earthquake. The buildings need to be designed in such a way that they can withstand the ground vibrations caused by earthquakes. Failure to adhere to guidelines can cause damage to human life and loss of property.

              Image source: http://www.mapsofindia.com/

              We have seen in past, how earthquakes have proved to be disastrous. And therefore, putting in place systems and guidelines that can avoid or limit the loss are extremely useful.

              Find below the codes for design and development of earthquake resistant buildings in India:




              Have any Questions?

              Monday, July 8, 2019

              How can NRIs-PIOs-OCBs open and maintain the NRE-NRO-FCNR-bank accounts in India to buy, sell, rent out immovable property?

              Author: Sachin Gupta | Find me on Twitter

              Foreign exchange management act (FEMA) of 1999 allows Non Resident Indians (NRIs), Person of Indian Origins (PIO) to buy, sell, rent immovable property other than agricultural land or plantation property or farm house in India. One can invest in a piece of land and construct it or buy an under construction property directly from the real estate developer. Overseas Indians can invest in commercial or residential property of their choice. The acquisition of immovable property by person resident outside India is governed by terms of Section 6(3) of the Foreign Exchange Management Act (FEMA), 1999, as well as by the regulations contained in Notification issued by RBI vides Notification No FEMA. 21/2000-RB dated May 3, 2000, as amended from time to time.

              Persons resident outside India are categorized as Non- Resident Indians (NRIs) or a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin. A person resident in India who is not a citizen of India is also covered by the relevant Notifications.

              To carry out this entire process of buying, selling, renting out the immovable property, NRIs/PIOs are allowed to repatriate an amount up to USD 1 million per financial year (April-March) out of the balances held in NRI account subject to tax compliance. This amount includes sale proceeds of assets acquired by way of inheritance or settlement. Thus, NRIs can purchase property and transfer money earned in India to their country of residence through authorized banking channels.

              How can NRIs/PIOs/OCBs open and maintain the bank accounts in India? Find below the detailed document:





              Have any Questions?

              Monday, July 1, 2019

              List of Housing Finance Institutions of India

              Author: Sachin Gupta | Find me on Twitter

              Owning a House is a dream for every household in the country. The new government has also set an ambitious target of ‘Housing for all’ by 2022, a challenging yet achievable task. To fulfill this objective, providing housing finance at affordable rates is paramount. Therefore housing finance companies will play an extremely important role in this noble endeavor.

              Who are the major players in this area currently? Can the list be expanded given the enormity of task? Things will unfold as we move along.

              There are 2 kinds of housing finance companies, one, which accepts public deposits, and the second kind do not accept public deposits. Housing finance companies are regulated and supervised by National Housing Bank. Housing finance companies offer loans for purchase of commercial and residential properties. Find below the detailed list of Housing finance companies in India:





              Have any Questions?

              Monday, June 24, 2019

              5 Home Projects That Are Best Left To Professionals

              If you’re remodeling your house, there must be a number of things you want to change about it. And if you want your house to be a particular way, you might think that it’s always better to make these changes yourself. But remember, you are still an amateur and some things are better left to the professionals.

              Professionals are called so for a reason.  They survey your house, understand your requirements, negotiate the price, and most importantly they get the work done according to your tastes and preferences. They make even the toughest work look effortless. Needless to say, for the following home improvement activities, hire a professional.


              • Plumbing

              Plumbers have a lot of experience up their sleeve and they usually carry out their work flawlessly. But mind, if you ever get so adventurous and try plumbing by yourself, there is a definite chance that you might end up flooding your house. Remember plumbing is no child’s play. One wrong move and it can bring down your house, literally!




              • Electrical Work

              Flipping a fuse switch and checking for faulty wiring is hardly the same thing. Electrical work is pretty serious business and there are more things that can go wrong than right, if you don’t know what you are doing. You obviously don’t want to electrocute yourself or your family members, right? That’s exactly what could happen. This work requires precision and most of all, a license.


              • Tree Removal

              This is no joke. You might think that you are well-equipped to uproot a few trees, but this clearly is not your stage to rock. Even hardened pros can go wrong with this process. Tree cutting and removal is a dangerous task and professionals have a lot of training that they have racked up for majority of their life. So it’s better to stay away from this as it also requires dangling from extreme heights with dangerous tools.




              • Water Proofing Your House

              Seen many water proofing home videos on YouTube or random DIY sites in your time? Think you got what it takes to go about waterproofing your house single hand? You really won’t be able to pull it off. This is another area where you should stay away from, as this process is both time consuming and confusing.


              • Flooring

              How hard can laying some tiles or spreading carpet across your living room be? Pretty easy right? Wrong! You will need precision equipment to cut through the tiles or the carpets to the exact length as required. Also these things take a lot of hard work so it wouldn't help if you fizzle out while doing it.



              It only takes a fair amount of cash to get this work done. As enthusiastic as you are, hiring a professional will save you so much trouble, tension, and time.


              Yogendra is a content strategist at commonfloor.com. He is knowledgeable and familiar with the Indian real estate market. He blogs on Indian real estate properties, news, price trends, home decor, home loans, etc.