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:

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