Reasons why NRIs prefer investment in Indian Real Estate over stock market, NRE/NRO accounts, and bonds

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Continuing with the discussion about Non Resident Indians and their propensity for investing in various investment classes, we recently conducted a survey among NRIs and asked the following question:

“Fall of rupee opens up new vistas for NRIs to invest in India. Which asset class is more likely to see increased investment activity?”

About 43 people responded and 27 chose real estate as the preferred investment asset class, the second preferred choice was NRE/NRO account with 12 people opting for it.

What could be the possible reasons for these results?

Also, have a look at our research report showing returns on investment classes such as real estate, gold, bond, and stocks.

• Volatile stock markets

Let’s face it. For last 2 years, the stock markets have been volatile to say the least. With growth slowing down and investment climate at its low due to poor policy making on part of the government of India, investors are looking for assets that are less risky. Unless, the investment climate gradually improves, we may continue to see retail investors abandoning stock markets and invest in relatively risk free asset class such as real estate or bonds.

• Low returns on bond markets

Bonds are risk free and therefore, returns are lower. However, bonds continue to provide stable return over a period of time and many prefer stability over high returns. With volatile stock markets, Indian investors are either preferring real estate or bond market. Non Resident Indians have been no exception to this rule.

• Rupee depreciation

In last 2 years, rupee has fallen substantially. This presents NRIs with an opportunity to invest in Indian real estate. Because of falling rupee, real estate looks attractive to NRIs and they are able to get property at almost 20% discount. For example, if one were to invest rupees 1 crore in commercial real estate such as Office Space in Gurgaon or housing in Chennai, he/she would have paid about 200000 USD. And since the falling of rupee, the same real estate would cost 170000 USD to an NRI. This is a major factor why real estate prices are still not coming down in India despite the sluggish demand at home. With money flowing in from NRIs, real estate prices are stable, if not appreciating.

• Family considerations

For people living abroad, there is the comfort factor that some of their relatives either parents, siblings are in India. And this leads them to buy a piece of real estate, which can be used in times of need for parents or siblings. Many also cherish the dream of returning to India one day and investment in real estate gives them the luxury to come back without worrying about housing or relocation.

• Hedge against inflation

Real estate has always been a preferred investment destination for Indians. It not only provides them with the availability of land or housing, but at the same time hedges ones savings against inflation. With low interest rates offered in deposit accounts, many prefer locking their money in real estate in order to hedge against inflation.

Our research shows that of all the various kind of investment vehicles, returns on gold and real estate have yielded better results over a 6 year period.

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10 things to check when booking an apartment in a builder project

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Call it practices or malpractices; real estate in India is riddled with cases where buyers have been taken in for a ride. And in this environment, buying an apartment is not as easy as it may sound. Whether you are an end-user or an investor, you should pay attention to the following 10 items when booking a flat. These 10 items are categorized into two principal checklists namely Project details and Apartment details:

Project Details

• Land Titles

When making real estate investments, buyers of property typically want assurance that they will become the legal owner of the property and that the seller is lawfully possessed and has the right to convey title. When a real estate developer has “Title”, he is said to have all the elements, including the documents, records, and acts, which prove ownership. Therefore, a buyer should insist on documents that clearly demonstrate Land Titles.

Some of these builder projects are approved for home loans by banks or lending institutions. These lenders are also concerned about title assurance because the quality of title affects the collateral value of the property in which they have a secured interest. Therefore, if you as a buyer lack the capacity to verify Title certificates by yourself, you should at least check and verify with the list of banks that have approved the project for home loan grant.

• License Grant

The Town and Country Planning (TCP) Department grants license to private developers owing land for converting it into a colony or a group housing society. The license is granted upon fulfillment of parameters laid down by the TCP Department.

Ask for the License number from your developer and verify it at the TCP website.

• Intimation of Disapproval (IOD)

Check if the builder has received the IOD from relevant authorities (Town and County Planning Department). IOD lists out the conditions based on which the building should be constructed. It is usually valid for one year and has to be re-validated thereafter.

• Master Plan

A master plan typically demarcates city or region’s future development including residential, commercial, industrial, and recreational facilities. Visit the City Development Authority website and verify the claims made by the developer while selling the project.

• No Objection Certificates (NOC)

In addition to the License number granted by the TCP department, a builder should also possess NOC from environment, fire fighting, electricity, water, airport departments. Check these NOCs.


Apartment Details

• Location

First thing first, location is the key differential in selecting or rejecting a project. Make sure, you book an apartment in a project which is well connected by road to city’s CBD (Central Business District). In addition to that, look around for the presence of social infrastructure such as schools, shopping malls, college, etc.

• Floor Plan

You are going to live in this apartment. Therefore, pay attention to the floor and unit plan. In one particular project, we noticed there were about 14 apartments on one single floor and that was a big dampener in otherwise a good project. In an under construction project, it is very difficult to assess the floor plan and unit plan. Ask for the approved floor plan and unit plan from the developer and analyze these plans for open spaces, lobbies, lifts, etc.

• Amenities

After a long and hard day at office, one would like to relax and rejuvenate. Buy an apartment in a project which offers state of the art amenities such as park, jogging track, swimming pool, clubhouse, etc.

• Kitchen

Many people overlook the Kitchen; however, make sure Kitchen is not only spacious but also properly planned. Many developers in Gurgaon offer the option of Modular Kitchen, however, check if the same can be developed from outside suppliers at lower prices. There are numerous vendors of Modular Kitchen in Gurgaon, visit them and inquire about the quality and total price. Thereafter, one can compare and take a final decision on the modular kitchen offered by the builder with the one offered by outside vendors.

• Apartment specifications

Specifications comprise of kitchen fittings, bath fittings, flooring, electric work, walls, etc. Visit the sample flat prepared by the developer and assess the specifications first hand. Make sure that specifications provided in the brochure and shown in the sample flat are part of the builder buyer agreement.

• Carpet Area/Sale-able Area Ratio

Most builders would charge you on the basis of sale-able area. Ask for the efficiency of the apartment or in other words carpet area of the apartment. In most cases, ratio of carpet area to sale-able area is 75 to 80%. If possible, get that included in the builder buyer agreement.

We are sure you will have your own stories to tell, your own issues with real estate projects, your own experiences of buying an apartment with a builder, and your own follow-ups? Share them here with the larger audience and let’s help each other.

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

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

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.

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• 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.

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Resale Vs. New property – 10 Things to think about

Buying a resale property differs from buying a newly constructed one, both in terms of legality as well as the buying process. The properties listed on resale are often priced higher than the original cost considering factors like new amenities, pricing trends in the vicinity, ease of commuting to the city, malls, schools and hospitals, overall civic amenities in the area, etc.

However, there are several advantages of buying a resale property, such as…

1. Immediate possession of the property
2. Escaping the rent and EMIs simultaneously
3. Getting to see the desired specifications completely
4. No construction delays
5. Time for planning your move-in
6. Tax sops on home loan from the beginning 

In spite of the advantages at a higher price level, it is imperative to know what to expect and what you will get in a resale-apartment deal. 

• Talk to the experts 

There’s definitely a friend or acquaintance who has invested in a resale apartment in the past, and is evidently happy with the purchase. Ask how they went about the purchase. Also try to understand the general legal procedure. Apartment specific details may not be similar to your desire, but certain basics always match. 

• Check for clarity in the ownership context

Although one feels it’s easy to hire a lawyer or an estate agent, it’s better to be well versed in certain areas for your own understanding. Check the title of the property, as its clearance is highly essential to avoid any sort of fraudulent selling. 

• Documents

Check for all documents available with the purchase. Some of them are project commencement certificate, completion, occupancy and sale deed. Also check for the authenticity of the same with a lawyer or an agent of your choice.

• Clearance of loans taken 

Check whether the property is completely free of past loans taken by the builder. Check with bank personnel to conduct this verification because they have the necessary network to do so. 

• Eligibility to apply for a new loan

Considering that you need to fund your purchase through a loan, and this would be a resale property, cross check with your bank about the amount that you are eligible to receive as a loan. Verify that you have the all-important documents to process your loan application. Sometimes it is better to fund the property partly through a loan, even if you can afford the entire payment. Outsource the due diligence to bank authorities and stay rest assured about the safety of the investment. 

• Conduct an evaluation of the property

It is important to get your desired property evaluated for its market value. This is required firstly to ensure that the finances are planned properly. Secondly, check whether the property prices are predicted to fall, which would discourage the banks from granting you a loan amount that you are eligible for. 

• Down-payment amount

Make prerequisite arrangements to pay an initial lump sum amount as a down payment for the purchase. The banks usually give you close to 80% of the total price on the property as a loan. 

• Age of the property

The ratio of loan amount received and the amount of down payment varies based on the relative age of the property. Older properties tend to be valued away from your advantage because banks try to safeguard their interest. Thus, the down payment for an older property would be a larger amount with respect to the loan you can avail.

• Maintenance fees charged by the society

This is a monthly recurring expense after you occupy the purchased apartment. Ensure that your budget can accommodate it with the EMI that you would be scheduled to pay every month to the bank for some years as well. 

• Reason for the sale

This should have appeared much higher in the list, but you can find out the reason for sale only after you build a rapport with the owner. Try finding out the reason behind the sale. Although it is not always necessary that you get authentic information, do ask to understand the intentions.

This is a blog post by Bharath Joshi who is the Marketing Executive for Unishire Signature in Bangalore.

What are the various kinds of risks involved in real estate investment? And what should you as an investor do to minimize those risks?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Any kind of investment whether in Gold, property, stocks, bonds, etc. is subjected to certain risks. While Government securities are considered risk free, there is still some amount of risk involved in those. What if the government defaults as has happened in some of the EU nations? Consciously or unconsciously people do their risk analysis before making any investment. In this post, we will analyze the risks that are involved in real estate investment. Whether one is investing a small amount or substantial amount, going through this risk analysis will help you in foreseeing the potential risks that can creep in your real estate investments.

• Business risk:

Property investors suffer due to fluctuations in economic activities that affect the variability of rental income generated by the property. Changes in economic conditions prevailing in the country often affect some properties more than others depending on the type of property, its location, and any existing leases. For commercial properties, particularly office space buildings, a property with a well diversified tenant mix is likely to be less subject to business investment risk. Lease deeds that provide the owner with protection against unexpected changes in expenses (e.g., with expense stops in the lease, or leases indexed to WPI, etc.) would have less business risk. Changes in the economic conditions also affect the residential property investors who are primarily looking for capital appreciation gains on the property. With economy slowing down, the capital yields goes drastically down as can be seen in the latest housing price index across many cities in India.

• Financial risk:

The use of debt (financial leverage) magnifies the investment risk. Financial risk is directly proportional to the amount of debt taken to finance the purchase of property. Based on the prevailing interest rates, the financing costs may go up and eat into the income generated by the property. Financial risks affect both commercial and residential property investor due to the financial leverage. The cost of financing goes up or down depending on the economic situation and prevailing interest rates.

• Liquidity risk:

This risk occurs when a continuous market with many buyers and sellers and frequent transactions is not available. The more difficult it becomes to sell a property, the greater the likelihood that owner will have to under-sell the property in order to dispose of the investment quickly. Sometimes, it can take from six months to a year or more to sell real estate income properties especially during period of weak demand. We have seen many cases in recent past when investors were forced to undersell because of slow property transactions across the country.

• Inflation risk:

Unexpected inflation can reduce an investor’s rate of return if the income from the investment does not increase sufficiently to offset the impact of inflation. To overcome this risk, use of leases that allow the Net Operating Income to adjust with unexpected changes in inflation is applied. Higher inflation also eats into the capital gains that are sought by many housing investors.

• Management risk:

The risk is based on the capability of the management and its ability to negotiate leases, respond to economic conditions, and operate/maintain the property efficiently. Even in case of residential properties, with outdated tenant laws across India, we have seen how difficult it gets for the manager or owner to get hold of their property. Therefore, as is the case in commercial properties, property owners must go for registered leases for residential properties as well.

• Interest rate risk:

Real estate tends to be highly leveraged and thus the rate of return earned by equity investors can be affected by changes in interest rates. Most mortgages are of floating interest rates in India and therefore any monetary policy changes by RBI is keenly watched by the real estate investors. Even if an existing investor has a fixed interest rate loan or no loan at all, the change in the monetary policy by RBI by increasing the level of interest rates may also lower the capital value of a property that a new buyer is willing to pay.

• Legislative risk:

Regulations such as tenant laws, taxes, registration procedures, stamp duty, restricted use of property, zoning, and other restrictions imposed by the state bodies or municipalities are categorized as legislative risk and must be factored in by the investors.

• Environmental risk:

Environmental risks such as constructing or buying property in areas where the land use policy is under jurisdiction and therefore have the possibilities of adversely affecting the returns on investment.


Having gone through the above risks, a property investor should do his/her due-diligence before investing in a property:

• Review of title/deed documents
• Property survey
• Government compliance
• Areas of review/locality
• Physical inspection
• Tax matters
• Insurance policies
• Pending dues
• Market studies including the demand for the similar property
• Review of rent agreements or lease deeds in case the property is already rented.

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Detailed Guide: Finding and Moving to a New Home

Are you in your 20s or early 30s? And starting your master’s degree or settling in a new job or just got married, chances are, you have encountered this massive hunt. Yea hunt and we are talking about finding the right place to stay and live in a city of your choice. While real estate prices have boomed in major metros across India, and therefore, only option you are left with is to find a decent 1BHK or at most 2BHK apartment near your workplace or institute.

As easy as it may sound, the whole experience of settling in a new home is tedious to say the least. And when we talk about new home, what we mean is renting a home which is of right size, located close to your workplace and is in close proximity to commercial & institutional centers such as malls, hospitals, schools, etc.

So, what are the things one should pay attention to while looking to rent a home in a metro across India? How should I as a home seeker go about the whole experience? We list down the steps based on true experience.

• Finding the right place
• List down your ‘wants’ and ‘needs’
• Search on Internet
• Preparing to Move
• Sign the Lease Agreement only after consultation
• Hire a mover, it’s always worth it
• Identify your unloading zone in advance
• Packing Your Bags and Boxes
• Setting Up
• The Décor

Or

One can subscribe to the below Guide “The Most Jugaadu 1 BHK Ever” by Voucher Cloud that has tips and tricks for the young population in India which can help them select/buy/transform their 1 BHK into an awesome crib. Hope you will find this useful.

What is Property Tax / House Tax in India?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Municipalities across all cities in India charge a levy from local residents to maintain the city’s infrastructure such as sewerage, park, roads, other civic amenities, lighting, etc. The property tax shall not be confused with income tax payable on income generated from the property. While income generated from the property by renting it out comes under the ambit of income tax authorities and is calculated as per the income tax guidelines, the property tax is a municipal level subject. Income generated from the property is a central subject whereas property tax is a local subject. Property tax is also sometimes referred to as ‘house tax’.

Some municipalities do not charge property tax and instead bill separately for the services rendered to the residents. There are municipal bodies who charge residents for water and drainage facilities, maintenance charges. Moreover, MLA (Member of Legislative Assembly) and MP (Member of Parliament) funds are also utilized for the upkeep of the city.

How is property tax calculated? The tax is computed on the basis of rental income that the property under consideration may generate by way of letting it out. Usually, the property tax or house tax is a small percentage of the yearly rental income that the property can generate if it is rented-out. And it varies from state to state and from city to city. The property tax / house tax in India is to be paid once every year or every 6 months.

Below are the types of properties that are liable to be taxed under property tax / house tax provision in India:

• Residential house (self-occupied or let out)
• Office Building
• Factory Building
• Godowns
• Flats
• Shops

More details about property tax in India:

Property tax or house tax in india from Green Realtech Projects Pvt. Ltd

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What are the kinds of properties that can and can not be transferred?

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The property transfer is a complicated process and therefore one must be thoroughly aware of the laws and practices. When we talk of property transfer here, it means, an immovable property that is already registered with one person. The person may choose to sell the property of transfer the property.

One should note that property transfer for an under construction property with the developer is a different and private process. The developer transfers the property from one buyer to another buyer on the request of first buyer. Normally, developers charge a fee for the transfer.

However, in this section, we are focusing our energies on property transfer for a property that has been completed and is registered with the registrar department. This property transfer between any two parties is governed by the “Transfer of Property” Act, 1882. Both of these parties need to be alive to carry out this kind of property transfer. In case, one person is not alive, then, succession laws as per the religion of the dead person are applied for the transfer of property.

So, what kind of properties can be transferred and what kind of properties that cannot be transferred? Find below in the detailed document:

What kind of properties can be transferred and what kind of properties that cannot be transferred from Green Realtech Projects Pvt. Ltd

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What are the various kinds of property disputes in India? What are the laws to resolve these property disputes?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Since time immemorial, property disputes of various kinds have resulted in tension and altercations among parties involved. The parties involved could be family members fighting for ancestral property, buyer and a real estate developer, illegal authorization of a property by someone who does not possess the property titles, cooperative housing society, or buyer and a lender, etc.

There could be multitudes of reasons for property disputes such as title certificates, illegal possession, transfer, mortgage, wrong land use, contractual, rental, etc.

All of these property disputes can create lot of trouble for the buyer or for the person holding property titles. And therefore, taking a legal route to resolve these issues becomes the eventual option. In India, state governments as well as central government have passed various laws in the parliament to resolve property related issues.

What are the various kinds of property disputes in India? What are the laws to resolve these property disputes? What kind of law is applicable to your specific property related dispute? We present them below:

Property dispute in india from Green Realtech Projects Pvt. Ltd

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What should I do if the builder has delayed the housing project or the delivery is not as stated in the builder buyer agreement?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Hello, and very warm greetings for Diwali. During the past one week, our team spent time meeting with some of the customers, readers, real estate consultants. During our interaction with customers, we noticed that most of them were frustrated with the construction progress of their homes which they have booked with real estate developers. Recently, a study published by PropEquity also showed the fact that construction progress is slow and many a residential projects will be delayed considerably.

As we write this on Diwali, a festival of light and happiness, we believe, there is no point in getting frustrated with housing project delays or any other housing related issues. In fact, you should take solid steps to overcome your housing related challenges. We list few of them here:

1. Read the document carefully:
That’s right, even though you should have read the document carefully before signing the builder buyer agreement. You can still do it, read it now carefully. And look for penalty clauses which are stated in the agreement. Approach your developer and ask for the compensation as stated in the builder buyer agreement. Even though, this compensation will be pittance relative to what you would be paying to banks in form of EMIs. Still, claim it.

Also do not forget to check if there are any deviations in the project layout, project plan, size of the apartment, specifications, amenities, etc. If there are any deviations in any of these from what was stated in the builder buyer agreement then approach your builder and discuss the things in detail. Ask for compensation wherever applicable. If possible, take the help of your legal associates.

2. Form a group with other buyers:
Yes, you read it right. You are not the only one sailing in this boat. Visit the construction site on a regular basis and interact with other buyers who are visiting the site. Make a group and discuss the common issues and approach the builder. There is no better way of putting pressure on the developer than a group of buyers coming together. As a group, you can explore various options such as cancellation, shifting to other housing projects by the same developer which is nearing completion, legal action, etc.

3. Rate and review the project:
Now that you have thorough understanding of the real estate sector and ways of working of the property developers, share this with prospective buyers. You can easily rate and review your project at www.nirrtigo.com and alert the prospective buyers of the positives and negatives of a particular developer. Just like, you would like to read reviews for things such as cars, phones, etc. others are also interested in taking tips from you about the housing projects, real estate developers, etc. So, go for it.

4. Use social media:
Social media has enabled all of us in voicing our opinions and most brands whether big or small are always conscious of the fact that social media can make or break their position in the industry. Whatever you do, from forming groups to reviewing projects, keep sharing it on popular social media such as Facebook, Twitter, blog, and LinkedIn. In fact, you can always look to form groups on these social media channels as well.

5. Approach the relevant authority:
Once, you have a group of people who are facing the similar set of challenges as you. It makes sense to approach the relevant government authority. And recently, government of India has set up a Real Estate Regulatory Authority to protect consumer interests. Approach the authority for speedy adjudication of your disputes with the real estate developer.


Above all, be calm and keep discussing the issues within the group. With so many avenues for you to take recourse to, we are quite sure that you will be able to resolve your housing issues. Good luck!

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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 Follow @sach_gupta

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.

Guidelines for achieving maximum returns on real estate investment in india from Green Realtech Projects Pvt. Ltd

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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:

6 steps that can make real estate efficient and corruption free in India

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

We have been writing a lot about the inefficiencies and mal practices in real estate sector in India. A lot of focus of our writing has been on highlighting the issues that plague the industry and how those issues can be tackled. While other ideas such as RTI; Aadhar; and recently Jan Lokpal bill has seen the light of the day, issues in real estate sector still remains unresolved. There is no denying that implementation of RTI, Aadhar, and Jan Lokpal bill will help in eliminating corruption from the government-public interface. But, what about real estate, where most of the cash finds its way? Why is the government not bringing in policy measures to cure the sector? We list some of the measures that can help in eliminating corruption from the real estate sector. In no way, these are the only measures, but, we are confident that implementation of the following measures will certainly help the sector.

• Equalize market rate and circle rates

As the name suggests, market rates are determined by the economics of demand and supply equilibrium. Buyers and sellers participate in the market and transactions take place fairly & without any stimulus. Circle rates are the minimum rates fixed by the state government and a buyer of the property is entitled to pay stamp duty charges on these rates whenever a transaction takes place. For example, in Gurgaon, the market rate of an apartment in a multistory building is 7000 Rs/sqft, while the circle rate for the same apartment as fixed by the state government is 4000 Rs/sqft. For a 1000 sqft apartment, the stamp duty charges as per the circle rate would be Rs. 320000. While the stamp duty charges as per the market rates would be Rs. 560000. Therefore, it presents an opportunity for the buyer to under report the apartment value on papers in order to save on stamp duty charges. Equalizing market rates and circle rates would eliminate the practice of under-reporting of the property value. However, this may affect the growth of real estate sector because of fewer transactions between buyer and seller. And this can lead to an adverse impact on GDP of the state as well as the country. Well, the move to equalize market rates with circle rates should also be complemented with reduction in stamp duty charges.

• Reduce stamp duty charges:

Stamp duty charges are exorbitant in most states across India. Stamp duty charges are least in Madhya Pradesh at 0.5%, while they are about 8% in states like Haryana, Punjab, Rajasthan, UP. Now, let’s say stamp duty charges are brought down in all states to a uniform level of 1%. Therefore, one would now pay Rs. 70000 as stamp duty charges on a flat of 1000 sqft with a market price of Rs 7000 per sqft. This move will not only encourage buyers to report market value of the property but will also lead to more and more transactions. Research based on past transactions can result in the optimum value of stamp duty charges which incentivizes true reporting as well as increased velocity of transactions across states in India.

• Cap on property transfer on government sponsored schemes

On government sponsored schemes such as the recent DDA flats scheme, there should be a tenure cap. In other words, people who applied for the scheme and got allocation should not be able to sell the allocated apartment in secondary market for a fixed time period (say, 5 years). This happens in many countries in EU. The tenure cap will drive away speculators and only the real needy people will participate in the whole process. Can you imagine for 15000 DDA flats, some 15 Lacs application came. But this one looks impractical because banks, government bodies, and agencies all made money by issuing a lottery system. And then, they would say, we are pro-poor and these schemes help poor of the country. We came across a property dealer in Delhi who filled 8 forms for the DDA scheme. He called in various relatives and friends from his native Bihar and he made sure that at-least 8-9 forms were filled. He paid for the whole process and in return if a flat was allotted to any of those 8-9 members, he would share 50% of the proceeds. Everyone knows what a big lottery this whole flat allocation system is, yet government is not changing the policy. And who is benefitting? Government bodies by charging a fee for every form sold; banks for providing upfront money to the customer at an interest; and the rich who already owns multiple properties.

• Cap on home ownership in certain cities

Certain cities such as Mumbai, Delhi, and other major metros have become unaffordable for the masses. A basic 2BHK is virtually out of the reach for a salaried person and he/she has to go to the outskirts of the city to fulfill his/her dream of home ownership. People with deep pockets own multiple properties in these cities. Housing is considered an investment vehicle first and then the basic need. In China, the government has moved in recent years to quell home price amid worry that surging costs could lead to social unrest and has set Home-Ownership Curbs in Shanghai and Beijing. Can it be done in India?

• Computerization of property titles across the country

E-governance is the need of the hour. When there is no dearth of talent in the country when it comes to software development and technology, why don’t we see the computerization of property records? In many instances, a single property is registered under 2 or 3 names and this leads to disputes. Computerization of property titles will not only eliminate property disputes but it will also help in land acquisition processes for mass urbanization.

• Make it easy as far as capital gains tax are concerned

An individual is liable to pay capital gains tax whenever there is significant gain over the buying price. Applicability of long term and short term Capital gains taxes should be made simple. In order to reduce or avoid being liable to pay capital gains tax, an assessee can either purchase a house within a period of one year before or two years after the date on which the transfer took place, or construct a house within a period of three years after the date of transfer. Why can’t we have a common wealth tax instead of so many complicated tax structures?

Is it desirable as far as real estate is concerned or are we just getting too ahead of ourselves?

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Developers offer discounts to encourage the purchase of dream homes

Buying a house can be a challenging decision for many. After all, it involves investing your hard-earned money. People get finicky when it comes to purchasing their dream home as they expect the best amenities and facilities that are worth their investment. There have been many cases where people go house hunting for apartments in Bannerghatta road and other such places in the south, but return disappointed because of the expensive property prices. Now, you no longer have to wait for the prices to drop. Your dream home can be well within your reach as real estate developers are offering lucrative discounts for apartments and flats for sale in Bannerghatta road.

• The slowdown in the housing industry

Unlike earlier times, potential house buyers have plenty of choices available now. Builders and brokers are willing to negotiate better deals, which wasn’t an option some time back. Working professionals, especially those from the IT sector, are ready to purchase a second home and buy apartments on Bannerghatta Road, Bengaluru, because of the declining prices. There are a large number of people who are unable to purchase their dream homes because of the weak economy. But, simultaneously, there is also a significant section of the population who is grabbing the discounted offers introduced by real estate developers. With changing times, developers are now accepting requests from buyers and providing benefits. The price corrections have already taken place in the different sub-markets, depending on the supply and demand dynamics.

• Rise of the buyer’s market

Builders need to keep the cash flow steady. For this reason, they are willing to provide discounts when they are close to finishing the inventory. They are enthusiastic to provide schemes rather than turning away a customer. The pre-launches are occurring at aggressive prices. Due to the rising debt, unsold inventory, and slow new home sales, builders are ready to negotiate with potential buyers. The end-user can bargain the best deals as the quoted prices remain stagnant. To make things better, the Reserve Bank of India has started offering home loans at low-interest rates. In fact, due to the recent RBI rate cuts, banks have been asked to reduce their base rate, which can substantially decrease the cost of home loans. Industry experts and financial advisers believe that now is the right time to buy flats for sale in Bannerghatta road, Bangalore.

• Introduction of innovative offers and schemes

There are several real estate developers that are offering payment plans for possession. Such programs require individuals to pay 2 percent at the time of booking and take a loan for 80 percent. The EMI will be borne by the builder. After six months, the cost has to be paid, and the final 10 percent is due at the time of possession. Similar schemes with payment options ranging from 30-65-5 to 30-70 and 30-40-30 are designed to attract buyers. Be it cities such as Hyderabad and Chennai or apartments in Bannerghatta Road, Bangalore, developers are coming up with large projects. Real estate analysts believe that people expect an increase in disposable incomes once the economic indicators improve, and the interest rates reduce. As property prices continue to remain stagnant, this combination works as an excellent opportunity to potential home buyers and investors.

When it comes to luxurious properties, developers are ready to sit across the table and negotiate the payment scheme. So, you can choose to buy your dream home by purchasing apartments in Bannerghatta road, keeping in mind the current market conditions and flexible payment options.

This is a guest post by Deepak Yewle

How to check for legalities, cost, penalty clauses, and available financing options for a real estate project in India?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Are you looking to buy property in India? Have you decided on the location, or choice of builder? Are you satisfied with your research of similar offerings available in the market? If you answered ‘YES’ to these questions, then there is all the likelihood that you may be about to make the booking amount to the real estate developer. But, hang on; despite making all the efforts to research for the right property, right builder, location, and budget, there is still a possibility of things going wrong. What else can you do to minimize such risks? Well, conduct a thorough due-diligence including verifying the legalities of the residential project of your choice, It’s pricing, penalty clauses to the developer, and available financing options for the project.

It’s not that difficult a task, just be more open and ask a set of questions from the developer, and bank. This is to make sure all bases are covered in case something goes wrong with the project. We have put together a detailed list of “TO DO” things for you to verify before you pay the booking amount for a property of your choice.

Here it is:

Process to check for legalities, costs, penalty clauses, and financing of a real estate project in india from Green Realtech Projects Pvt. Ltd

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What are the various styles of real estate investment strategy and factors that affects property investment?

Author: Sachin Gupta | Find me on Twitter Follow @sach_gupta

Are you an investor looking to invest in real estate? What are your motivations for investing in real estate? In this article, we will consider motivations for real estate investment, variables that affect property market, and various styles of real estate investment patterns.

Make no mistake; most retail investors avoid investment in stock markets because of complicated financial jargon and relative ease of realty market to absorb cash. The idea is to invest in property (particularly residential) and leave it as it is for years to generate handsome capital appreciation value. However, one must be careful before blindly investing in real estate. Understanding, the local micro market such as its demand driver and supply is crucial in order to reduce investment risks. In the following document, we highlight the objective of real estate investment, risks, and what are the various ways one can invest in property market:

What are the various styles of real estate investment strategy and factors that affects property investment from Green Realtech Projects Pvt. Ltd

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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

10 reasonably-priced property markets of India

With real estate prices shooting up, people are wondering which places have affordable properties. Check out some affordable property markets in India.

The metropolitan cities of India are considered to be the center of the country’s economy and cosmopolitan culture. They draw the most demand for providing better opportunities, infrastructure, and standard of living. Due to rapid urbanization, these cities are facing the challenges of high property prices, pollution, and traffic issues. Infrastructural developments support towns and cities with emerging or growing sub-markets. Here are some cities that offer real estate at a lower budget.

• Hyderabad, Telangana

After the slump due to the global recession, Hyderabad’s real estate market is all ready for an upswing. Due to a thriving economy and dynamic workforce, along with redevelopment of plots in Shankarpally, the city is turning out to be a buyer’s market. People are witnessing a growing demand for residential, commercial, and retail plots in Hyderabad. Compared to other cities, Hyderabad is relatively affordable. Also, due to political uncertainty, land prices in Hyderabad have remained stable.

• Pune, Maharashtra

Today, a blend of Pune’s manufacturing and service sectors make it a perfect economic powerhouse. Many players are entering this city with excellent expensive projects. New entries can also be seen making their way with affordable housing segment. This is where the major demand lies because the budget is far more attractive to investors.

• Navi Mumbai

Real estate market in this area and other surrounding areas have shown impressive growth because of the planned approach taken during development. While property prices have become increasingly unaffordable in Mumbai, Navi Mumbai still provides multiple options.

• Jaipur, Rajasthan

Jaipur is a fast-developing city that has progressed tremendously on residential and retail fronts. It is one of the most important real estate destination of North India. Due to its tourist attraction, the government too is taking a keen interest in developing infrastructure in this region.

• Surat, Gujarat

Known as the diamond capital of the world, Surat is a famous city in Gujarat. It also gained recognition for being the cleanest town in India. Improving infrastructure helped modernize the city. The excellent road network comprises of well-constructed flyovers and wide roads.

• Ghaziabad, NCR

Ghaziabad is slowly rising as an emerging residential neighborhood of NCR, which has a high supply of residential properties in the budget of 30-50 lakh. The city boasts of a large supply of ready-to-move-in properties by reputed developers. Residential corridors are widely attracting a large number of investors and end-users due to the relatively available housing units at affordable price.

• Nagpur, Maharashtra

Though Nagpur has varied climatic conditions, it is a fast-growing city. Set to be the next IT hub of Maharashtra, real estate investors are carefully monitoring its success. Right now it is a great deal of real estate development, so, investors can dare to invest here.

• Kochi, Kerala

This place has a modern and metropolitan lifestyle. It is known to be a smart city and townships in kochi have significantly increased demand for real estate. Today, the residential market of Kochi is dominated by affordable housing segment.

• Coimbatore, Tamil Nadu

This city has gained momentum as a preferred destination for IT/ITes. With a proactive government in power, Coimbatore's property market has seen an upward push in demand for residential units in the core areas of the city such as R S Puram, Avinashi Road, and Race Course, which are considered posh areas.

• Ahmedabad, Gujarat

Ahmedabad city is a prime example of fast-paced development with huge investments pouring into the state and advanced infrastructural development in the form of bullet trains.

These property markets are said to have a lot of potential when it comes to affordable housing. Based on one’s preference and budget, you can purchase a home or commercial property in any of these cities.

This is a guest post by Deepak D.Yewle

5 Reasons Why India is One of the Top Realty Hotspots in Asia

There is a big change in the way people think about property nowadays. Previously one used to buy property for accommodation for themselves. But now, people buy property as a lifetime investment. If you are interested in investing a part of your income in real estate, you have to choose the property very carefully. Thankfully, finding real estate is never too hard as India is constantly expanding in the realty industry.

Presently, India is booming in real estate zone, especially in its metropolitan cities. In 2016, if you want to buy property in Mumbai or Bengaluru, it would be a wise investment. Followed by these cities are properties in Delhi, Chennai, and Pune. A recent survey stated that 35% of expats staying in the UAE wanted to buy property in Mumbai.

• The Attractive Government Policies

The Government of India has come up with some liberalization measures in the past few months which has increased foreign investors’ interest in real estate market in India. The Indian Property Show held this December from 11th -13th at the Dubai World Trade Center revealed Bengaluru as one of the favorite areas for NRI investment because of it’s growth in many fields simultaneously in the last few years.

This goes to show that the Government of India has paid serious attention in bringing in foreign investment through real estate. The minimum built-up area in case of foreign direct investment (FDI) was 50,000 sq. ft. which is now reduced to 20,000 sq. ft. Though the economic structure of the country shows dis-balance at times, the property investment has not been affected by this.

• Greater Demand

Presently there lies a huge opportunity of investment in upcoming and happening cities like Mumbai and Bengaluru. Mumbai stands as the first choice of real estate investment due to the immense business options and opportunities. Mumbai is facing problems with the scarcity of free land for further construction. So, Navi Mumbai and other cities are coming up in the periphery of the city of Mumbai. In the last one decade Bengaluru has developed massively in the technology industry, becoming the best hot spot for the IT sector in the country. The availability of skilled labor and capital-backed start-ups are also a prime reason for the city’s growth.

• Free Lands Readily Available

If you are planning to invest in real estate, India is an attractive destination. It is the right time to invest in a property in Bengaluru as it’s the information technology hub which in today’s world will provide jobs to millions. So, people will need places to live a smart life with lots of modern amenities. A large number of properties are available in the city and most of them are purely for investment purpose which offer good returns opportunities in the future. It is said that Bengaluru is the third largest real estate investment city for High Net worth Individuals (HNIs) and one of the cities right for Non Resident Indians (NRIs) to settle if they want to come back to India in the future to settle.

• Some Facts and Figures

‘Emerging Trends in Real Estate Asia Pacific 2014’ was a survey published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC), which stated that Indian cities are in the list of top 25 real estate investment spots of the Asia Pacific region. A survey was made where about 22,300 NRIs participated all over the UAE. These are a few striking facts that revealed themselves after the survey.

The main reason of purchase of property in India remains for personal use, which is about 54.42% of the population. Now, 45.57% of people want to possess a property for investment only. More than 65% of NRIs are looking for financial institutions to help them invest in property. 68.75% of the NRIs are willing to invest in real estate properties within six months. 17.49% of the NRI investors are looking for properties at an affordable range of 5 to 25 lakhs, whereas 51.35% are willing to spend money in the mid segment of 26 to 75 lakhs, 31% are ready to invest in properties ranging from 76 lakhs and above.

NRIs are most interested in residential apartments, which is 79.33%. Then are the villas and the commercial properties are their last choice.

As is evident, India’s real estate market has all the makings for an investment hotspot in Asia, and the rest of the world. If you’re looking to buy a buy a house in India, visit commonfloor.com for a breezy property buying experience.

This is a guest post by Naresh G

Union Minister For Urban Development M Venkaiah Naidu launches India’s First Real Estate and Property Business TV channel - Magicbricks NOW

Union Minister For Urban Development M Venkaiah Naidu launches

India’s First Real Estate and Property Business TV channel - Magicbricks NOW

 

• ‘Magicbricks NOW will provide an unbiased, trustworthy and authoritative perspective on the property business and will help its viewers ‘Be Un-Confused’ about this important sector’
• CHANNEL’S COMMERCIAL LAUNCHES ON 1 NOVEMBER 2015

New Delhi 28 Oct 2015: The growing Indian Real Estate and Infrastructure sector received a significant addition when Honorable Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Parliamentary Affairs, Mr M Venkaiah Naidu, introduced India’s first Real Estate and Property Business TV Channel, Magicbricks NOW, today.

Unveiling the channel name, Mr Naidu told media persons, “I am delighted to be here today on this auspicious  day. Times NOW from the Times Network is the most credible, premium news channel in the country, and when I came to know that this network is launching a news channel to create a platform for the real estate and housing sector, I felt really happy. Because it is going to partner with me in our plans to provide housing for everyone by 2022.

“So I am very happy that a dedicated channel called Magicbricks NOW is launching for the sector. My congratulations. I hope Magicbricks NOW will do the required magic for the sector; and bricks are always required to construct houses, and housing is the most important aspect of anybody’s life, Mr Naidu said, adding  “I suggest that news and views should not be combined for the channel and that should be the noble beauty of the new channel.”

M K Anand, MD & CEO – Times Network, said, “We are delighted to offer India its first 24x7 real estate and property business television channel, Magicbricks NOW,  and are extremely happy that it has been launched at the hands of the Honourable Mr Naidu today.  Magicbricks NOW has been launched to guide the consumer through the complex and seemingly intimidating world of real-estate transactions.  While real estate is of paramount importance in the life of every Indian, equally, the space is full of complexities, jargon and confusion.  Magicbricks NOW will provide unbiased, trustworthy and the most authoritative perspectives on the property business to help the consumer ‘Be un-confused’,” Anand said.

“We are confident Magicbricks NOW will enjoy wide reach – not only because it is a genre pioneer that covers the extremely important property business, but also because it will leverage the proven strengths of our network distribution and marketing,” Anand said, adding, “It is befitting that India’s first real estate and property business TV channel has been launched by the Nation’s biggest media conglomerate, The Times Group, which has always had a deep and abiding emotional connect with middle class Indians, Magicbricks NOW will cement this relationship further.”

Magicbricks NOW has strategically partnered with Magicbricks.Com, India's No 1 Property portal for property buyers and sellers. Apart from them - Lotus Greens Developers Private Ltd and Mantri Developers Pvt.Ltd, leading developers of the country on board as key sponsors. Their association with us from Day One is testimony to their belief in our vision for Magicbricks NOW.

Faye D’Souza Editor – Magicbricks NOW, said, “Magicbricks NOW is here with a singular focus – on the end consumer. Magicbricks NOW will offer a rich array of programs that range from News bulletins to property hotlines, debates, leadership insights and more. These will not just keep the end consumer informed, but will serve as a common meeting ground for knowledge-driven individual buyers, sellers and businesses looking seriously at the world of property and real estate.”

Marquee channel programming includes The Property Guide, The Home Buyer’s Guide, Property Hotline, The Interiors Show, The Vastu show, Real Estate Tycoons and, of course, The News, every hour on the hour.

Speaking about the association with Times Network to create the new channel, Sudhir Pai, CEO-Magicbricks.com, said, “Magicbricks is delighted to be a part of this initiative with the Times Network. Our endeavor has always been to make our brand ubiquitous across media so as to provide consumers with rich and in-depth information when it comes to matters of property. With this association we leverage the visual appeal of television to communicate our rich data and analytics in an easy-to-consume manner for the consumer. With this launch, we strengthen the offering and make ourselves available at every touch point to consumers."

Target audience: The 24/7 channel will target NCCS A and B viewers in the 25-37 and 38-50 years age groups. In viewer profile terms, it will target both, consumers who are looking to buy, sell or rent real estate, and businesses and service providers like brokers, builders, interior decorators, paint companies and others.

Distribution: Magicbricks NOW will be distributed extensively across DTH and Cable, and is already present on all platforms that carry the channels of Times Network.

This is a press release by Times Group.